Technological Innovation in Indian Banking Sector: Some Recent Developments

Authors

  • Uma Kant Research Scholar, Department of Commerce, University of Lucknow, Lucknow
  • Prof. Arun Kumar Mishra Professor, Department of Commerce, Sri Jai Narain Mishra PG College, Lucknow

DOI:

https://doi.org/10.31305/rrijm.2024.v09.n05.016

Keywords:

Covid-19, Technological advancement, Banking industry, Development

Abstract

The banking system and financial institutions are crucial components of any economy. Their development can significantly influence a country's growth. In the "Digital India" era, India's banking and financial services have experienced substantial evolution, a trend that is ongoing. This transformation can be attributed to factors such as new regulatory policies and changing customer expectations. However, the most significant driver has been technological advancement. Technology plays a key role in the economic system, especially evident during the COVID-19 pandemic, which has drastically altered the functioning of various sectors. The banking sector faced major challenges during the pandemic, but technology provided solutions to meet people's needs. Banks introduced new and effective services, and the use of mobile and internet banking surged. Intense competition among banks has led to the introduction of innovative services and improved efficiency of existing ones.

Author Biographies

Uma Kant, Research Scholar, Department of Commerce, University of Lucknow, Lucknow

Uma Kant is an accomplished academic and researcher with a robust background in commerce and management. He completed his Bachelor of Commerce (BCom) degree in 2012 from the University of Lucknow, Lucknow. Pursuing higher education with a strong commitment to excellence, he earned his Master of Business Administration (MBA) in 2014 from Dr. A.P.J. Abdul Kalam Technical University (AKTU), Lucknow. Furthering his expertise, Uma Kant completed a Master of Commerce (M.Com) in 2018 from Uttar Pradesh Rajarshi Tandon Open University (UPRTOU), Allahabad. In addition to his academic qualifications, Uma Kant has achieved significant milestones in the field of commerce and management by qualifying for the UGC National Eligibility Test for Junior Research Fellowship (NET JRF) in both Commerce (Code 08) and Management (Code 17). His qualifications have provided him with a solid foundation for a career in academia and research. Since 2019, Uma Kant has been serving as a Senior Research Fellow (SRF) in the Department of Commerce at JNPG College, Lucknow. In this role, he has been actively engaged in advanced research, contributing to the academic community through his scholarly work. His dedication to research and education underscores his commitment to advancing knowledge and fostering academic excellence in the field of commerce.

Prof. Arun Kumar Mishra, Professor, Department of Commerce, Sri Jai Narain Mishra PG College, Lucknow

Prof. Arun Kumar Mishra is a distinguished academic and seasoned educator currently serving as Professor and In-Charge of the Faculty of Commerce at Sri Jai Narain Mishra Postgraduate College (KKC), Lucknow. With an extensive career spanning nearly three decades, Prof. Mishra has been a dedicated member of the department since 1995. Throughout his tenure, Prof. Mishra has made significant contributions to the field of commerce through both his teaching and research. He has published dozens of research papers in reputed national and international journals, showcasing his expertise and commitment to advancing knowledge in his discipline. His scholarly work has been well-received and widely cited, reflecting his influence and thought leadership in the field.

In addition to his research contributions, Prof. Mishra has been instrumental in organizing numerous national and international seminars. These events have provided valuable platforms for scholars, researchers, and practitioners to share insights, discuss contemporary issues, and foster collaborations. Prof. Arun Kumar Mishra's dedication to education, research, and academic leadership has made him a respected figure in the academic community. His ongoing efforts continue to inspire students and colleagues alike, reinforcing his commitment to excellence in the field of commerce.

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Published

15-05-2024

How to Cite

Kant, U., & Mishra, A. K. (2024). Technological Innovation in Indian Banking Sector: Some Recent Developments. RESEARCH REVIEW International Journal of Multidisciplinary, 9(5), 134–141. https://doi.org/10.31305/rrijm.2024.v09.n05.016

Issue

Vol. 9 No. 5 (2024): RESEARCH REVIEW International Journal of Multidisciplinary

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Articles

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This is an open access article under the CC BY-NC-ND license Creative Commons Attribution-Noncommercial 4.0 International (CC BY-NC 4.0).