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INTRODUCTION TO INFORMATION TECHNOLOGY:
Technology has been defined as "systematic knowledge and action, usually of industrial processes but applicable to any recurrent activity". In providing tools and techniques for action, technology at once adds to and draws from a knowledge base in which theory and practice interact and compact. At its most general level technology may be regarded as definable specifiable way of doing anything. In other words, we may say a technology is a codified, communicable procedure for solving problems. Technology, Manfred Kochen observed, impacts in three stages. First, it enables us to do what we are now doing, but better, faster and cheaper; second, it enables us to do what we cannot do now; and third, it changes our life styles. Information technology is a recent and comprehensive term, which describes the whole range of processes for generation, storage, transmission, retrieval and processing of information. In this Unit, an attempt is made to discuss the components of information technology and to identify elements that really matter m the investigation and implementation of new information technologies in information systems and services.
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1. Why do the banks borrow funds, besides accepting deposits? Discuss in detail the various sources from where banks can borrow funds within India.
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