Abstract
The current study presents an overview of the development of banking in India from time to time specifically focused on the plastic cards usage trends since these have been introduced in Indian banking sector. Various types of plastic cards provided by banks in India like ATM cards, Debit Cards, Credit Cards and Smart cards have been discussed. The study also highlights the role of these cards as electronic payment tool to be used by customers and discusses clearing and settlement process of these cards. Some future plans made by various banks and institutions are also summarized in a way that it depicts the picture of its future growth and prospects in India.
Get full access to this article
View all access options for this article.
References
1.
Arunachalam
L.
Sivasubramanian
M.
(2007 ), “The Future of Internet Banking in India” , Academic Open Internet Journal , Vol. 20 (3 ), pp. 111 –121 .
2.
Caskey John
P.
Sellon
Gordon H.
Jr.
(1994 ), “Is The Debit Card Revolution Finally Here?” , Economic Review , Fourth Quarter, pp. 79 –94 .
3.
Chandrashekhar
G
(2007 ), “India China hungry for more ATMs: Study” , The Hindu Business Line. Retrieved April 02, 2008 from http://www.thehindubusinessline.com/2007/11/29/stories/2007112950750600.htm.
4.
Choudhury
S.
(2007 ), The all-new debit card , Retrieved August 22, 2008 from http://moneytoday.digitaltoday.in/index.php?option=com_content&task=view&issueid=701&id=1333&Itemid=1§ionid=106.
5.
Country Survey – India: E-payments get set for Indian summer
(2005 ), Electronic Payments International . Retrieved March 20, 2008 from www.ncrc.org/global/australAsia/documents/India_Art_8_3-25-05.pdf.
6.
David
R.
(2007 ), India's ICICI Bank Gets Smart to Tap Rural Market . Retreived September 23, 2008 from http://www.forbes.com/markets/2007/06/26/icici-india-rural-markets-equity-cx_rd_0626markets2.html.
7.
Vasu
Deva
(2005 ), E-Banking , Common Wealth Publishers , pp. 1 –14 .
8.
Sarkar Partha
De
Yadav Surendra
S.
Banwet
D.K.
(2001 ), “Emergence of Flexible Distribution Channels for Financial Products: Electronic Banking as Competitive Strategy for Banks in India” , Global Journal of Flexible Systems Management , Issue 3. Retrieved March 20, 2008 from http://findarticles.com/p/articles/mi_qa4012/is_200107/ai_n8957497.
9.
Sheebarani
Gnanapushpam J.
(2007 ), 10 July, “Short History of Credit Cards” , Retrieved May 20, 2008 from http://chennaionline.com/columns/variety/2007/07article26.asp.
10.
Gopinath
S.
(2005 ), “Retail Banking – Opportunities and Challenges” . Retrieved April 02, 2008 from http://www.bis.org/review/r050531f.pdf?noframes=1.
11.
Hirve
A.K.
(2003 ), Electronic Banking and Information Technology , The Indian Institute of Banks, Macmillan India Ltd Publishers , pp. 25 –28 .
12.
Vepa
Kamesam
(2003 ), “Indian Economic Scenario-Yesterday, Today and Tomorrow” , Speech, Reserve Bank of India. Retrieved April 08, 2008 from http://www.rbi.org.in/scripts/BS_SpeechesView.aspx?Id=137.
13.
Urvashi
Kaul
, (2007 ), “ATM of cash: The power” , Retrieved April 08, 2008 from http://dqindia.ciol.com/content/DQTop20_07/ITGaints07/2007/107080306.asp.
14.
Khandelwal Anil
K.
, (2006 ), “Doing Business in India: The Big Picture Bankers Prespective” , US-India Business Summit. Retrieved March 20, 2008 from www.buyusa.gov/india/en/327.ppt.
15.
Mehra
A.
(2007 ), “Long Term Themes Driving India's Growth” . Retrieved March 20, 2008 from http://www.evolving-asia.com/docs/Arun%20Mehra%20-%20Long-term%20themes%20driving%20India's%20growth.pdf.
16.
Gaurie
Mishra
(2007 ), Indians Get Elastic with Plastic Money, The Economics Times . Retrieved April 02, 2008 from http://economictimes.indiatimes.com/articleshow/2382580.cms.
17.
Murali
D.
Jaishankar
P.
, (2007 ), “Biometrics ATMs in India from NCR: Financial Inclusion through Biometric ATMs” , The Hindu , October 15, 2007. Retrieved April 02, 2008 from http://biometricpayments.blogspot.com/2007/10/biometric-atms-in-india-from-ncr.html.
18.
Nair
P.
(2008 ), FINO Plans Smartcards for Money Transfers , Business Line. Retrieved September 28, 2008 from http://www.thehindubusinessline.com/2008/08/12/stories/2008081252360600.htm.
19.
Parul
(2008 ), “Credit Cards: Plastic Money Never Saw It Better in India than Now”! , Retrieved 5 August, 2008 from http://pr-gb.com/index.php?option=com_content&task=view&id=49910&Itemid=75.
20.
Payment Card Industry
, 2002–03 , Industry Survey, Venture Infotek . Retrieved April 08, 2008 from www.ventureinfotek.com/pdf/industrysurvey2003.pdf.
21.
Ramasamy
S. R.
Guru
K. B.
Nair
M.
Vaithilingam
S.
(2006 ), “Development of E-Money in Malaysia” , National Statistics Conference, Putrajaya International Convention Centre , Putrajaya, Malaysia .
22.
Report on Trend and Progress of Banking in India
, 2006–07 . Retrieved April 08, 2008 from http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/81450.pdf.
23.
Retail Payment Systems Booklet
– March 2004. Retrieved April 08, 2008 from http://www.ffiec.gov/ffiecinfobase/booklets/Retail/retail.pdf.
24.
Sen
A.
(2008 ), Smart Cards, Machines Taking Banking to Poor Man's Doorstep , The Economic Times. Retrieved 10 October from http://economictimes.indiatimes.com/News/News_By_Industry/Banking_Finance_/Banking/Smart_cards_machines_taking_banking_to_poor_mans_doorstep/articleshow/3520740.cms.
25.
Suneja
H.R.
(1994 ), Innovations in Banking Services , Himalaya Publishing House , pp. 1 –20 .
26.
Thakur
K. S.
Singh
D.
(2005 ), Marketing of Financial Services , RBSA Publishers , pp. 2 –4 , 16 –18 .
27.
Vardhaman
A.
(2008 ), Indian Credit Card Industry – on the Path of Unbound Growth , Retrieved June 22, 2008 from http://ezinearticles.com/?Indian-Credit-Card-Industry-On-the-Path-of-Unbound-Growth&id=1213036.
28.
Venkatesan
S.
Kumar
K.P.R.
(2007 ), “Retail Banking Scene in India – A Holistic Approach” , Management Trends , Vol. 4 (1 ).
29.
Verma
S.B.
Gupta
S.K.
Sharma
M.K.
, (2007 ), “E Banking and Developments of Banks” , Deep and Deep Publications Pvt. Ltd , pp. 5 –9 .
30.
Vohra
P.
(2002 ), Banking and Information Technology, Final Group Project . Retrieved April 10, 2008 from www.ceet.niu.edu/faculty/vhr/tech497/present/ebanking.doc.
31.
Wenninger
J.
Laster
D.
(1995 ), “The Electronic Purse” , Current Issues in Economics and Finance , Vol. 1 (1 ), pp. 1 –5 .
32.
Jarunee
Wonglimpiyarat
(2007 ), “E-Payment Strategies of Bank Card Innovations” , Journal of Internet Banking and Commerce , Vol. 12 (3 ).