Role of Internet of Things (IOT) in Smart Finance and Banking

In this manuscript, the authors have discussed the benefits and challenges faced by the banks for the adoption of IOT based system. The Reserve Bank of India (RBI) has continuously guided and aware to the people. Banks are also awaring to the customers about the benefits of IOT. IOT played a vital role in grooming the country's economy through banking and finance. With IOT, Internet banking, fund transfers, and online shopping also became easy and comfortable. Technology also makes it possible to work in finance and banking in a safer and more secure manner than in the past. The suggestions given in this manuscript will also be helpful in the sector of banking and finance.