Impact of Technology On The Service Sector
Impact of Technology On The Service Sector
Impact of Technology On The Service Sector
In Service Sector
Sectors Of Services
News media
Consulting
Information Technology (IT)
Health care like hospitals
Banking Services
Retail Banking
Legal practice like lawyers
Disposal of waste
Topics To Discuss
Aerospace
Travel
Railways
Waterways
Internet
News Media
Telephones
Mobiles
Core Banking
Internet Banking Etc,
Advantages of communications and
connectivity(1)
Goods and people are transported with
more easiness and speed
free trade between countries increases
global mass media connects all the
people in the world
as the cultural barriers reduce, the
global village dream becomes more
realistic
Advantages of communications and
connectivity(2)
Firewalls
AntiVirus
Network Topology
Impact Of Technology On The
Retail
Banking
Evolution in Retail banking(1)
As a central bank in a developing country,
the Reserve Bank of India (RBI) has
adopted development of the banking and
financial market as one of its prime
objectives.
"Institutional development" was the
hallmark of this approach from 1950s to
1970s. In the 1980s, the Reserve Bank
focused on "improvements in the
productivity" of the banking sector.
Evolution in Retail banking(2)
Being convinced that technology is the key
for improving in productivity, the Reserve
Bank took several initiatives to
popularize usage of technology by banks
in India.
Retail banking in India is maturing with
time, several products, which further
could be customized. Most happening
sector is housing loan, which is
witnessing a cut-throat competition.
Impact Of Technology(1)
PLASTIC MONEY
Plastic money was a delicious gift to
Indian market. Giving respite from
carrying too much cash
CREDIT CARD
Credit card is a financial instrument,
which can be used more than once to
borrow money or buy products and
services on credit.
Impact Of Technology(2)
MOBILE BANKING
Taking advantages of the booming market
for mobile phones and cellular services,
several banks have introduced mobile
banking.
RURAL BANKING
One of the innovative scheme to be
launched in rural banking was the KISAN
CREDIT CARD (KCC) SCHMME started in
fiscal 1998-1999 by NABARD. KCC mode it
easier for framers to purchase important
agricultural inputs.
Impact Of Technology(3)
NRI SERVICES
With a substantial number of Indians having
relatives abroad, banks have begun to offer
service that allows expatriate Indians to send
money more conveniently to relatives India
which is one of the major improvements in
money transfer.
E-BANKING
E-Banking is becoming increasingly popular
among retail banking customers. E-Banking
helps in cutting costs by providing cheaper and
faster ways of delivering products to customers.
Thanks!