Banking System in India : From Bricks to Clicks to What Next?

During the days of brick and mortar banking (manual banking system), the customers were required to reach the respective branches in person for carrying out their banking transactions, be it depositing cash, sending remittance, payment of taxes or repayment of loans. Advent of computers and internet heralded an era of electronic revolution in the global banking arena. Firstly, it was Internet Banking that became a milestone in the history of Indian banking system and then it was Mobile Banking that played pivotal role in increasing the banking penetration especially in the hinterland.The paper focuses on explaining the evolution route of banking system in India in terms of technology, from brick and mortar banking to internet banking to mobile banking and finally concludes at the discussion of future of tech driven banking.As the new age tech based banking channels come into the mainstream, banks have continuously innovated to stay ahead of the curve. M-wallet, virtual cards, plastic money are some of the new products which will drive the growth in the banking industry in the days ahead. Use of biometrics, encryption and digital technologies will help the banks to improve the reliability and safety of their services