Banking and Modern Trends: A Study of Digital Transformation and Emerging Technologies in the Indian Banking Sector

Abstract

The Banking Sector of India  has under gone the major significant transformation driven by digital technologies and emerging innovations. The study explores how digital transformation affects various aspects. and also paper examines the impact of digital transformation and emerging technology such as AI, Data Analytics and Cloud Computing in shaping banking operations and enhancing customer experience. The study focuses on evaluating technological adoption, customer perception, regulatory frameworks, and challenges associated with digital banking.

The descriptive design was used  and primary data was collected from 150 google form responses using different questionaire. Secondary data was collected from some journals, RBI reports, and academic studies. The analysis was made using charts and also by chi-square test.

Results show that digital banking has greatly improved efficiency, convenience, and financial inclusion. Tools like UPI and mobile banking have made banking easier, and most respondents trust digital transactions. However, issues like cyber security risks, lack of digital knowledge, and resistance to change still exist.

The research concludes that digital transformation as improved efficiency and customer satisfaction in banking. But this success depends on security systems, improving digital literacy, regulatory compliance. The paper highlights the need for continuous innovation and inclusive growth in the evolving digital banking environment.