Information Technology (IT) today has become an important tool for an efficient banking system, and Indian banks have put in place a fairly strong infrastructure to leverage its benefits.
The ‘Digital India’ campaign has the potential to transform the Indian banking industry. Highlighting the progress of ‘Digital India’, more than 12,000 rural post office branches have been linked into payment banking.
Apart from giving licences to new payment banks, many other policies and regulations are expected to be in place in the upcoming years which can bring a paradigm shift in the Indian banking sector. The Digital India vision aims to transform our country into a digital economy with participation from citizens and businesses.