Computer application in Banking and Science

The article describes the application of computer in various fields like commercial banking, Space research, Communication, Defense and even our day to day life.


Computer innovation is one of the major scientific developments of 20th century and very will running with more prospects and developments into the 20th century. In fact, a computer application has made its entry in all the areas of and fields of human development. Human development impact is correlated with our legation and in turn religion is directly applied to the applications of scientific developments. Through computer was innovated during the late 1950’s the major impact of which has felt in real life during 1980’s.

Now the computer applications have made our life more easy, economical and even prosperous. Computer technology now rules the fields of communications, transport, banking, space science, defense etc. Commercial Banking is the main back bone of the running economy which in turn deals with day to day financial transactions. Earlier bank transactions were managed through white and black transaction modes, involving lots and lots of registers, ledgers, account books, pass books, record sheets etc. All the daily transactions are managed then and there recording manually in the appropriate registers. This mode of manual recording of registers also led to occasional mistakes in the rallying of account transactions.

During the 1990’s the Indian banking system was switched over to computer banking in phases. Computer banking in fact was not brought at once in India because of the vase updating and recording data of the vast updating of various individual governmental and company financial transactions. Computer banking, in fact, has been made very effective and applied in all the areas of banking only form 2006 on wards. Computer mode electronic transaction so on date is prevalent in all the nationalized banks and private banks. In fact, electronic transactions are made for each and every transaction and perhaps ledger entries are made but for few unavoidable cases.

Computer banking starts from the very basic. When a customer steps into the bank all entries are made with electronic recording. The debits as digital mode each and every customers name address, nominee details etc are recorded in the computer and in fact the photos and signature of the individual are also being maintained under the scan system for easy verifications and the identifications of the individuals. The drafts electronic money transfer advises to other banks are all managed through the electronic teller machine (ATM) is of great advantage to the customers. This ATM has made customers wait drastically reduced waiting in long ques. The advantage of ATM debit cards, credit cards facilities have also made customers life easier. By resorting to electronic banking credit cards reduce carrying money and cut the burglary risk.

Again the formation of core banking system through electronic means has resulted in very swift money transactions with in minutes to any branch, anywhere in India. Hence banking through electronic computer applications can be better said as the main estimation for the prosperity of banking customers.

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