With nearly 47 million Internet users and a GDP rate of 6-7%, India represents a digital economy. India has proven to be the largest market potential for global players. This digital revolution is expected to generate new market and job growth opportunities and become the biggest business opportunity for companies over the next 20 to 30 years. This digital transformation of the Indian banking system was absolutely necessary in the late 1980s. Digitalization was mandatory to meet customer expectations and MIS reporting. To meet the needs of the times, a committee was formed by the Reserve Bank of India to introduce digitalization in banks headed by Dr. C. Rangarajan, during the year 1988. Say no to plagiarism. Get a tailor-made essay on “Why violent video games should not be banned”? Get the original essay Banks have had to adopt disruptive technologies to improve customer service and ensure unparalleled efficiency and service at all times. Banks have adopted face-to-face interactions with their customers to provide meaningful financial services to individuals and businesses. However, this individual interface has changed since new technologies have emerged to meet changing customer demands. Thus, bank branches became banks. Core Banking Solution (CBS) has enabled banks to increase convenience functionality, providing a promising step towards improving customer convenience. Different core banking platforms, such as Finacle designed by Infosys, BaNCS by TCS, have gained popularity. Core banking systems and the digitalization of important services are necessary conditions for banks to provide innovative services. Digitalization has contributed to the development of not only the bank's operational systems or customer services, but also the new capabilities and services provided to customers today. The advent of the World Wide Web has truly revolutionized the banking industry and financial institutions. -of-the-box to meet the needs of their customers. This has led many banks to invest heavily in Internet services and offer services beyond those offered in branches. One of the main drivers of this change has been the growing competition between private and commercial banks which have started to digitize their processes in order to improve their efficiency and customer service, thus responding to the current pace of digitalization. Banks have benefited in several ways by adopting technological advancements. . Electronic banking has significantly reduced costs and generated revenue through various channels. The customer base has also increased thanks to the convenience of Anywhere Banking. Digitalization has reduced human errors. It is possible to access any data at any time, from any nook or corner of the world. According to the Avaya Banking Survey 2017, 51% of Indians use online banking channels and 26% of Indian customers prefer to access services through their bank's website, and the same number would prefer to use a mobile app rather than talking to a human agent. The RBI is the guiding force for banks in informing regulations and making recommendations. Commercial banks in India have adopted technology through banking mechanization and automation with the introduction of MICR-based check processing, electronic funds transfer and interconnectivity between bank branches. Implementing the channelATM (Automated Teller Machine) has helped make anytime banking more convenient. Strong initiatives have been taken by the Reserve Bank of India to strengthen payment and settlement systems in banks. According to recent surveys, today's customers prefer to maintain cross-platform interactions with their banks. The number of branch visits has reduced significantly and most transactions are done online, bills are paid online, checks are deposited via mobile banking, etc. One of the major innovations that transformed the Indian banking system was the evolution of the smartphone era. This has helped transform the traditional banking system through the introduction of applications used for transactions and other facilities. The Indian government is actively promoting digital transactions. The launch of United Payments Interface (UPI) and Bharat Interface for Money (BHIM) by the National Payments Corporation of India (NPCI) is an important step towards innovation in the field of payment systems. UPI is a mobile interface for making instant fund transfers between accounts in different banks. Today, banks aim to provide a fast, accurate and quality banking experience to their customers. Today, the top priority of all Indian banks is digitalization. According to the RBI report of 2016-17, there are 2,22,475 automated teller machines (ATMs) and 25,29,141 point-of-sale (POS) devices. Implementation of electronic payment systems such as NEFT (National Electronic Fund Transfer), ECS (Electronic Clearing Service), RTGS (Real Time Gross Settlement), Check Truncation System, Mobile Banking System, debit cards, credit cards Credit and prepaid cards have all grown in popularity. acceptance in Indian banks. These are all milestones in the digital revolution of the banking sector. Online banking has changed the face of banking and has brought about a remarkable transformation in banking operations. Source: Banking on Technology, Perspectives on the Indian Banking IndustryNational Electronic Funds Transfer (NEFT) is the most commonly used electronic payment method for transferring money from one bank branch to another bank in India. There are currently 23 colonies. Real-time gross settlement (RTGS) is primarily used for high-value “real-time” based transactions. The minimum amount to be remitted through RTGS is two Lakhs. There is no upper limit. Immediate Payment Service (IMPS) is an instant electronic funds transfer service offered by National Payments Corporation of India (NPCI) which is available anytime, anywhere. The use of prepaid payment instruments (PPI) for the purchase of goods and services and remittances has increased significantly. The value of transactions through PPI cards, which include prepaid mobile instruments, gift cards, foreign travel cards, corporate cards and mobile wallets, increased significantly from Rs 105 billion at 105 billion rupees. 82 billion respectively in 2014-15 to Rs. 277 billion and Rs. 532 billion respectively in 2016-17. This is a remarkable development in the process of digitalization of the Indian banking system. This increase in online transactions and mobile application usage clearly shows customer response to the rapid digitalization process. According to surveys, Indians prefer a digital approach to banking and will not hesitate to protest poor service. In terms of numbers, 37% of Indians surveyed would change banks if they had a.