Need for Technological up gradation: Rise and fall of global companies
Technological upgrading refers to the planned and focused improvement of existing technology and production methods through the integration of new technology, research, and development efforts. Technology upgrades have brought about many good improvements that have altered the way we connect and the environment, from cell phones to virtual reality to artificial intelligence. Technological upgrading appears…
Read article
Trends in Technology Developments worldwide
New technology trends are the convergence of multiple technologies across the world used for a Continuous Innovation process. The following are the modern technologies in the process of further development. Quantum computing: Quantum computing is a trend that uses less power than traditional computing to process and analyze data. Unlike traditional computers, quantum computers use…
Read article
Funds Transfer Systems and Recent Developments in India
“Funds transfer” in banking means transactions related to the movement of funds from one account of a customer to another beneficiary’s account either in same bank or in another bank. The term includes any payment order issued by the originator’s bank or an intermediary bank intended to carry out the originator’s payment order. Generally, funds…
Read article
Evolution of EFT System
The roots of electronic payment can be traced back to 1871 when Western Union initiated the electronic fund transfer (EFT) in the U.S. In 1871, Western Union began using EFTs to transfer financial resources without the need for a physical exchange of money. The major milestones in the evolution of payment technologies are hereunder. Telegraphic…
Read article
Emerging Trends in Communication Networks for Banking
The upsurge of Fintech Companies, Internet banking, mobile banking, Credit Cards, and UPI are some of the classic examples of emerging trends in the banking Sector. Banks in India are aggressively pushing automation, artificial intelligence (AI) & machine learning (MI), cloud computing, open banking, blockchain, edge computation, advanced data analytics, cyber security, etc. These technologies…
Major Networks in India
India’s telecommunication network is the second largest in the world by number of telephone users with over 1.1 billion subscribers as of December 2023. The major networks in India (Mobile operators) are BSNL, a government-owned entity, primarily serves the rural market, while MTNL focuses on metropolitan cities like Delhi and Mumbai, offering landline and broadband…
Read article