Date of Publication :7th June 2016
Abstract: India is in its developing stage, and information technology has a great impact on the development. Indian banking sector is a key element in development and is mature in terms of supply, product range and widen its service in the rural areas itself. Indian banks were finding difficult to compete with international banks in terms of customer service, without the use of information technology. Recently different techniques are used in banking sector to improve its performance. This research paper focuses on the two important payment systems used in Indian banking sector and its influence in the better working of banking services. NEFT and RTGS are the payment system that will help to improve the functions. The computerization and use of technology in banks has helped in a number of ways. Minimized cost of operation, minimized transaction cost, improved customer services, overall efficiency and improved front end operations. High delivery cost, sloe revenue growth and high time delay brings the change from conventional payment system to computerized payment system.
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