Reformed Indian Banking System and Its Way Ahead

Abstract: The history of Indian banking industry is very old. The intervention of machine and technology has come into place for the last one or two decades. That's why for many years, the approach of Indian banking system was traditional in nature. But it had certain drawbacks. So, RBI has introduced certain kind of reforms in the banking system in order to remove the bottlenecks and to make the process hassle free. The main objective of this paper is to understand various reforms introduced in Indian banking industry and discuss how it helped to create opportunities and find solutions for the challenges, faced by the banking industry in India.

Keywords: ATM, IFRS, BASEL III, Banking reforms