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The need for computerization was felt in the Indian banking sector in late 1980s, in order to improve the customer service, book-keeping and MIS reporting. Banks began using Information Technology initially with the introduction of standalone PCs and migrated to Local Area Network (LAN) connectivity.
1.1 BACKGROUND OF THE STUDY In the last few decades, business activities have not only grown bigger and very much complex, but things happen even faster than expected, the combination of complexity, size and faster action and reaction generated a view for new management tools, especially tools for converting the large and complex volume of business data into useful and meaningful terms to assist management in decision making.
The processing of business data and the delivery of information using there machines is known as “AUTOMATIC DATA PROCESSING” OR “COMPUTERISED OPERATIONS”.
According to the RBI Report in 2016-17 there are 2,22,475 Automated Teller Machines (ATMs) and 25,29,141 Point of Sale devices (POS).
Implementation of electronic payment system such as NEFT (National Electronic Fund Transfer), ECS (Electronic Clearing Service), RTGS (Real Time Gross Settlement), Cheque Truncation System, Mobile banking system, Debit cards, Credit Cards, Prepaid cards have all gained wide acceptance in Indian banks.
Today banks aim to provide fast, accurate and quality banking experience to their customers.
Today, the topmost agenda for all the banks in India is digitization.
org Dun & Bradstreet, India's Top Banks 2016Prof.
ABSTRACT The primary aim of this study is to check the effectiveness and efficiency of financial control in Computerized Environment. First Bank of Nigeria Plc and to ascertain whether computer has enhance profitability and control in the bank and other financial sectors or industries.
RBI has been a guiding force for the banks in forming regulations and giving recommendations to achieve various objectives.
Commercial Banks in India have moved towards technology by way of Bank Mechanization and Automation with the introduction to MICR based cheque processing, Electronic Funds transfer, Inter-connectivity among bank Branches and implementation of ATM (Automated Teller Machine) Channel have resulted in the convenience of Anytime banking.