Abstract
This paper presents the need, the importance and the milestones of development of Information Technology (IT) in Indian banking sector. It also presents perceptions of bank. IT executives on critical IT issues in banking. All service sectors in general and the banking sector in particular are information intensive industries. Therefore, they are critically affected by the role of Information Technology (IT). IT plays a critical role in the design, development and implementation of new banking products. IT is not merely a tool to automate day to day work, but it is an enabler to derive a competitive advantage. Finally, the paper concludes with highlighting the need to focus on critical issues such as Integrating Information System Strategy with Business Strategy, User's Satisfaction, Top Management's involvement in IS issues, Customer's Satisfaction, etc.
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