Indian Banking on 'Clouds' – A New Reality or False Dawn

Abstract

Partnership between technology and banking has been strengthening since last two decade. Starting from total branch automation (TBA) and Core Banking Solution (CBS), to roll out of RTGS payment gateway, the pace of growth has been phenomenal. Now technology has been taking the form of Big Data analytics. It can help both in micro decision making like fraud detection, loan pricing, or even in macro decision making like forecasting inflation by collecting data from varied sources. While encouraging all these developments we must not lose the sight of providing cyber-secure environment to customers.

Keywords: XBRL, Nowcasting of inflation, Big data analytics

JEL Classification: E01, D81