Abstract:
The world is changing the way it works. The process of globalization has taken everything in its hold. Existing idea are fast becoming obsolete. New ideas and new economic thing are taking over the world. Technology is considered to be the prime factor in leading the change. Its impact has influenced and is pervasive of all sectors of the economy. The millennium has started with new challenges and opportunities hidden in the unknown treasure of time. Technology is a very dynamic force. It is changing the competitive landscape of the financial services and banking industry and is influencing the way their products and services are sold delivered. The banking infrastructure experienced changes at many levels and paved a way for the development in information technology. Technology has moved from being a mere tool of automation for existing function to being a key factor in organization of institutions an important tool in decision making process and a major element in delivering services to customers. It is becoming more obvious that the Virtual has unleashed a revolution that is affecting every sphere of life. However, it may be noted that the traditional ‘brick and mortar’ banking with manual system does continue to prevail in most banks’ rural branches in urban areas too, most of the urban co-operative banks continue to use the manual system of banking. The research studies the comparatively Study of real banking & virtual banking in India and its role in fostering relationships with customers and giving them more value. Study includes the evolution need and relevant, forces driving the proposed g, merits and demerits of real banking and virtual banking. This work will include the comparative study of virtual banking and real (Traditional Banking) banking. Results have shown that virtual corporation can produce financial rewards for the organization.
