The Market Developments Kindled By Liberalization and Globalizationhave Resulted In Changes In the Intermediation Role of Banks. the Pace Oftransformation Has Been More Significant In Recent Times With Technology Actingas a Catalyst. While the Banking System Has Done Fairly Well In Adjusting Tothe New Market Dynamics, Greater Challenges Lie Ahead. Financial Sector Would Beopened Up For Greater International Competition Under Wto.