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The banking system in India has played a critical role in the growth and development of the economy. The Indian banking system has been stable without any major crisis. It is relatively transparent in its operations and follows the internationally accepted best practices of disclosure, asset classification and provisioning norms. During the past three decades India's banking system has several outstanding achievements to its credit. The most important one is its extensive reach. It is no longer confined to metropolitans or cosmopolitans in India, but also reached even to the remote corners of the country. This is one of the main agents of India's growth process. The banking sector is one of the leading users of information technology worldwide. Introduction of information technology has transformed banking system almost beyond belief in the last decade and a half. Most of all, customers have benefited, as have the banks themselves. There have been very significant gains in the efficiency of banks leading to greater potential for higher profitability and consequent benefit to the economy as a whole.