With nearly 47 million internet users and a GDP rate of 6-7%, India is a digital economy. India has proven to be the biggest market potential for global players. This digital revolution is expected to generate new market growth opportunities and jobs and become the largest business opportunity for enterprises in the next 20-30 years. In the late 1980s, there was a burning need for this digital transformation in the Indian banking system. Digitalization was mandatory to meet customer expectations and MIS reporting. To meet the need of the hour, the Reserve Bank of India formed a committee 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 Shouldn't Be Banned"? Get an original essay Banks have had to adopt disruptive technologies to improve customer service and ensure unprecedented efficiency and service at all times. Banks have adopted face-to-face interactions with customers to provide meaningful financial services to individuals and businesses. However, this individual interface has changed since the emergence of new technologies to meet evolving customer demands. Therefore, bank branches turned into bank banks. The Core Banking Solution (CBS) has enabled banks to increase convenience functionality, thus offering a promising step towards improving customer convenience. Several 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 requirements for banks to provide innovative services. Digitalization has contributed to the development not only of banks' operating systems or customer services, but also of new capabilities and services provided to customers today. The advent of the World Wide Web has truly revolutionized the banking industry and financial institutions to think ahead in meeting the needs of their customers. This has led many banks to invest heavily in Internet services and to provide additional services to those offered in branches. One of the main drivers of this change has been the growing competition between private and commercial banks that have begun to digitize their processes in order to improve efficiency and customer service, thus meeting the current pace of digitalization. Banks have benefited in several ways from the adoption of technological advances. E-banking has led to drastic cost reduction and generated revenue through various channels. The customer base has also increased due to the convenience of "Anywhere Banking". Digitalization has reduced human error. Any data can be accessed at any time from any 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 that inform regulations and provide 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. The implementation of the ATM (Automated Teller Machine) channel has brought about the convenience of Anytime banking. There were strong initiativesadopted 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 times you visit the branch has significantly reduced 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 by introducing apps 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 a significant step for innovation in the field of payment systems. UPI is a mobile interface where people can make instant fund transfers between accounts in different banks. Today, banks aim to provide their customers with a fast, accurate and quality banking experience. Today, the top priority for all Indian banks is digitalisation. As per the RBI report in 2016-17, there are 2,22,475 Automated Teller Machines (ATMs) and 25,29,141 Point of Sale (POS) devices. The 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, Prepaid Cards they have all gained wide acceptance space in Indian banks. These are all milestones in the digital revolution in banking. Online banking has changed the face of the banking industry and has brought a remarkable transformation in banking operations. Source: Banking on Technology, Perspectives on the Indian Banking Industry National Electronic Funds Transfer (NEFT) is the most commonly used electronic payment method for transferring money from any bank branch to another bank in India. There are currently 23 settlements. Real-time gross settlement (RTGS) is primarily used for high-value “real-time” transactions. The minimum amount to be remitted through RTGS is two lakhs. There is no upper limit. Instant Payment Service (IMPS) is an instant electronic funds transfer service offered by National Payments Corporation of India (NPCI) available anytime, anywhere. The use of prepaid payment instruments (PPIs) for the purchase of goods and services and fund transfers has increased substantially. The value of transactions through PPI cards, which include mobile prepaid instruments, gift cards, foreign travel cards, corporate cards and mobile wallets, has increased tremendously from Rs.105 billion and Rs. 82 billion respectively in 2014-15 at Rs. 277 billion and Rs. 532 billion respectively in 2016-17. This is a notable development in the process of digitalisation of the Indian banking system. The increase in the number of online transactions and the use of mobile apps clearly shows the response of customers to the rapid process of digitalisation. According to surveys, Indians prefer a digital approach to banking and will not hesitate to complain about the poor quality of service. As for the numbers, 37% of Indian respondents would switch banks if they had a bad experience. With a larger population on social media, customers readily share their experience and ensure that everyone is aware of what is happening with the digitalization process. Today's young, affluent customers aren't just at it.