IT a key engine of banking growth: RBI's Thorat

Usha Thorat, a deputy governor at the Reserve Bank of India, believes IT has played a key role in the rapid expansion of the India banking industry over the last five years.

"The banking system has grown enormously in the last five years keeping pace with and in some cases leading the country's remarkable economic growth," said Thorat. "IT has played a major role in these achievements. Today banks have centralised operations, more and more banks and branches are moving to CBS, network based

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