Published Paper Details:

The success of any economy mostly depends upon the scale of operation and the extent of innovations incorporated in its core sectors which include monetary, physical, financial and banking sectors. In this context , special focus is required to be given to the banking sector as banking plays a pivotal role in both pooling of resources and allocation of resources. The advent of digitalization has made it all the more easy , efficient and self-sufficient in making sure that the untapped potential of these vital components is explored and leveraged in order to utilize their capacity to the optimum levels. The banking sector has undergone significant changes and investments in the recent past. Most of banks have taken steps to provide services such as Mobile banking, SMS Banking, Net banking and ATM's for their clients. As per Reserve Bank of India (RBI), India's banking sector is adequately capitalized , well-regulated & well organised. The financial and economic environments in the country are comparably advanced to any other country in the world. Credit, market and liquidity risk studies put forward that Indian banks are generally flexible enough as per changing scenario and shown courage to face the global downturn. Indian banking industry has lately witnessed the roll out of innovative banking models like payments and small finance banks. In the Indian Banking System, Cooperative banks exist side by side with commercial banks and play a supplementary role in providing need-based finance. This need based financing focuses on agricultural and agriculture- based operations including farming, dairy, poultry, hatchery, personal finance etc. along with some small industries and self-employment driven activities.