• Ms Shashi Kumari

Innovation through information technology (IT) has made inroads everywhere and banking is no exception to it. Whether it is private or public sector bank, everywhere innovation is the buzzword and technological breakthrough is witnessing new avenues of success. Competition is compelling everyone to move ahead and faster. Now, the working in public sector banks has been changing and customers are sensing the wave of innovation. These banks, which were working traditionally are now coming out and reaching to audience through billboards; FM radio and all possible media. Celebrity endorsements are now common in public sector banks as well. Indian banking sector has come a long way right from its inception in the 18th century. The revolution in the banking sector led to the introduction of Automated Teller Machines, Debit & Credit cards, NEFT, RTGS, internet banking etc. But the technological advancements all over the world has created a pressure for the use of better technology in the banking sector. This paper highlights different innovative products and services offered by Indian banks. The statistics quoted is taken from secondary sources. Towards the end, this paper does a critical analysis of the level of acceptance and adoption of these innovations by the banking customers. This paper is descriptive in nature and aims to illuminate the knowledge of the readers. The ultimate results can be seen in terms of enhanced customer satisfaction in public sector as well as private sector banks. In India, automation started off with State Bank of India in initial phase in 1995, where manual entry process was converted into computerized system in phases. Passbook entry, demand draft making, fixed deposit making and other operations were computerized to increase the speed of operations and productivity. All the banks were provided with computers connected with local area network. This facilitated the linkage and automation of operations within the branch.

Customers, innovation, private sector banks, public sector banks , Indian Banking Sector,pen Banking, API, ,CRM, Cloud StorageDS: Customers, innovation, private sector banks, public sector banks , Indian Banking Sector,pen Banking, API, ,CRM, Cloud Storage

"IMPACT OF INFORMATION TECHNOLOGY IN BANKING SECTOR", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.7, Issue 2, page no.1097-1103, February-2020, Available :http://www.jetir.org/papers/JETIR2002157.pdf

"IMPACT OF INFORMATION TECHNOLOGY IN BANKING SECTOR", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.7, Issue 2, page no. pp1097-1103, February-2020, Available at : http://www.jetir.org/papers/JETIR2002157.pdf