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• Robotic technologies enable more reliable monitoring and management of natural resources, such as air and water
quality.
• Farmers can use the Internet to access relevant information. This will reduce the risk and uncertainty and help them
take better decisions.
• They can buy the raw materials and sell their products online using the Internet.
Banking
The Banking System provides financial assistance by providing cash, credits, loans, and other financial services to a
person or a company. IT has given us instant, anytime, anywhere banking facilities to deal with the challenges of the
modern world and the growing economy. E-banking is provided by almost all the banks where a transaction can be
completed through the Internet. Some of the applications of IT in the banking industry are:
• Banks can reach out to more customers easily and provide better services to them through IT.
• ATM cards, debit and credits cards, cash deposit machines, online banking, telebanking, mobile banking, etc. are
some of the important features of modern banking which is possible only by implementing the latest information
and communication technology.
• Nowadays lockdown during COVID times has taught us that account opening can easily be done from home by
following certain online document submission and filing up the required details.
• The development of world-wide networks has significantly reduced the cost of global funds transfer. This has helped
a business to flourish with minimum hidden charges in the banking transaction.
• Banks are also helping the customers by auto payment facility to pay off their monthly bills like mobile bill, electricity
bill, credit card payments etc.
• Back-end operations such as data storage, retrieval and analysis, Customer Relationship management, report
generation, etc. are done efficiently using IT.
Introduction to IT–ITeS Industry 155

