• Anoukh.N

Growth and diversification in banking sector has transcended limits all over the world. In 1991, the Government opened the doors for foreign banks to start their operations in India and provide their wide range of facilities, thereby providing a strong competition to the domestic banks, and helping the customers in availing the best of the services. The Reserve Bank in its bid to move towards the best international banking practices will further sharpen the prudential norms and strengthen its supervisor mechanism. There has been considerable innovation and diversification in the business of major commercialbanks. In the present scenario cost efficiency viewed as an area of crucial significance for the banking industry’s best practices for development. Recently, there is a visible swing in the ATM business of banks in India. There is opportunity for accessing banking products (ATM) to vulnerable groups living in the country. The Reserve Bank of India decided to license Non-Banking Finance Companies (NBFCs) incorporated under the Companies Act 2013 or any previous company law to offer their own ATMs known as WLAs (White Label ATMs).Brown Label ATMs (BLAs) are cost effective model of the banks i.e. outsourcing of ATM machines and services. The Brown Label ATMs are owned and operated by the service provider.

IMPS, BHIM, Cash deposit machines, WLAs, BLAs

"RECENT TRENDS AND DEVELOPMENTS IN THE BANKING SECTOR", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.5, Issue 8, page no.921-923, August-2018, Available :http://www.jetir.org/papers/JETIRA006164.pdf

"RECENT TRENDS AND DEVELOPMENTS IN THE BANKING SECTOR", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 8, page no. pp921-923, August-2018, Available at : http://www.jetir.org/papers/JETIRA006164.pdf