Explain the new trends in the banking system in india
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Answer:
indian banking system evolve from barter system to the era of digital currency , now the days our country faces huge crisis Black money ,low liquidity in money market ,the non movable asset problem so gov take so many solutions like use basel 3 noms in banking system, form BBB of India , banking ombudsman's act ibc code , liquidity crunch mitigation programme there are so many more things along with its bank merged so that take out npa problem,new post payment bank open as Airtel bank these are few steps towards new era of banking sector in India
the banking industry and The Financial institute are vital sectors of an economy development of these two sections of the economy can impact the growth of the country in an incredible way
few tend in the banking system in India:
1) digitization
2) enhanced mobile banking
3) UPI ( unified payment interface )
4) block chain
5) artificial intelligence robot
6) the rise of fintech Companies
7) digital-only banks
8) cloud banking
9) biometrics
10) wearables
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