THE IMPACT OF ICT USAGE AND THE CHALLENGES FACED BY THE EMPLOYEES IN PRIVATE BANKING SECTOR AT MADURAI

The modern banking industry is characterized by extensive reorganization, restructuring, expansion and phenomenal growth with mergers and acquisitions among the public and private sector banks. The banking industry has witnessed tremendous changes linked with the developments in ICT over the years. The quest for survival, global relevance, maintenance of existing market share and sustainable development has made exploitation of the many advantages of ICT through the use of automated devices imperative in the industry. ICT has specifically resulted in a total alteration of the norms on the performance of the banks and in the provision of client facilities in the banking sector, also the ICT advancement has a considerable impact on the advancement of additionally accommodating and user friendly banking facilities. Indeed, internet banking as an important part of a new technology has presented a competitive advantage via cost reduction, and better satisfaction, trust and loyalty of clients. The universal application of ICT can change the way banking has been perceived. Beginning with customer centric services, back office set up, MIS needs of banks has dimensions of innovations and change in quality