Electronic Banking - "The traditional distinctions between banking and other financial services like insurance on one side; and between commercial banking, developmental banking and investment banking are getting blurred.

The emergence of universal banking and bancassurance are clearly pointers. This global convergence of financial services may gather further momentum in the years to come.

The banking and insurance sector reforms have encouraged private sector players to make forays into the business in collaboration with major international companies.

Increasing competition, thinner spreads and introduction of new technology driven products are some of the trends that the Indian banking system is experiencing. "Recent trends in Indian banking have reflected the efforts of the major players to adapt to a rapidly liberalising and globalising environment.

While the in1pact of these changes is possibly a subject of debate, there is one group which is not complaining  the customers, the beneficiaries of the process of liberalisation," observed Amitabh Guha, State Bank of Travancore.

Further, the technology oriented banking has become one of the latest mantras of success in the market, especially to win over the customers. To this, says SBI Chairman AK Purwar, "Indian banks need to fuel the market by bringing new products at par with the international standards, extending ATM facility to rural areas and vibrant networking countrywide to compete with the new generation and the MNC banks in India".