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Information and communication technology has changed the contours of three major functions
performed by banks, i.e., access to liquidity, transformation of assets and monitoring of risks.
Information technology and the communication networking systems have a crucial bearing on the
efficiency of money, capital and foreign exchange markets. The Software Packages for Banking
Applications in India had their beginnings in the middle of 80s, when the Banks started computerizing
the branches in a limited manner. The early 90s saw the plummeting hardware prices and advent of
cheap and inexpensive but high-powered PCs and servers and banks went in for what was called Total
Branch Automation (TBA) Packages. The middle and late 90s witnessed the tornado of financial
reforms, deregulation, globalization etc. coupled with rapid revolution in communication technologies
and evolution of novel concept of 'convergence' of computer and communication technologies, like
Internet, mobile / cell phones etc.