• Prof. Ankita Sanjay Sawant

The purpose of this article is to find out the importance of innovative technologies in the banking sector and to analyze the characteristics of technological product orientation. The banking system in India has changed a lot since demonetization. The government has started focusing on Digital India, which has changed people's payment habits. Technology-based innovations are an important factor in providing customized and versatile banking services to various customers at a lower cost. Technological innovations have brought about a massive change in the way banks operate in India, both internally and externally, enabling banks to provide excellent Customer service. The banking sector is one of the fastest growing sector in India. The Indian banking sector is undergoing several changes. Innovative factors like internet banking, mobile banking, ATM, NEFT and RTGS. Online banking services in the banking sector have a positive impact on the public. The most important advantages of using technological solutions in the banking sector are faster, more accurate and efficient information and data processing and speeding up the decision-making process. As a result of IT innovations, consumers no longer need to visit branches to perform routine banking transactions such as cash deposits, withdrawals, check cashing and balance inquiries. In addition, it led to an almost tenfold reduction in branch bank transaction costs. For the study, the researcher selected respondents who use various innovative banking methods to manage their finances. The area selected for the study is in and around the city of Mumbai. This paper throws light on the new and existing innovation in the banking sector in the India with reference to services.

Indian Banking Sector, Technology, innovation, Product and Service

"A Study On Innovations In Indian Banking Sector With Reference To It's Services", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.11, Issue 2, page no.110-119, February-2024, Available :http://www.jetir.org/papers/JETIRGC06014.pdf

"A Study On Innovations In Indian Banking Sector With Reference To It's Services", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.11, Issue 2, page no. pp110-119, February-2024, Available at : http://www.jetir.org/papers/JETIRGC06014.pdf