INDIAN FINANCE SECTOR: ACCELERATING FOCUS ON DIGITAL TRANSFORMATION

  INDIAN FINANCE SECTOR: ACCELERATING FOCUS ON DIGITAL TRANSFORMATION   The banking and financial sector in India is witnessing a continued and aggressive global trend with the integration of digitalization into every area of ban king, thereby undertaking major industry shifts from the traditional banking model. It is important for banks and financial firms to take their time to understand the opportunities in technology and come up with a complete and structured strategy that can help it build value through the entire business so as to thrive in this competitive world and remain relevant in the race. From computerization in 1980s to internet banking and E-banking in the later 1990s to further developments in the beginning of millennia like Telebanking, Electronic Compensation Service, Electronic Funds Transfer system, MICR, RTGS (Real-Time Gross Settlement), Point of sale terminal, the launch of United Payments Interface (UPI) and Bharat Interface for Money, to the digi...