Study of E-Banking Scenario in India

Information revolution led to evolution of internet, which lead to E-Commerce continued by evolution of E- Banking. Earlier Banking was conducted in very traditional manner, there were no such innovations. E- Banking or Electronic Banking is a major innovation in the field of Banking. Banking is now no longer confined to the branches where one has to approach the branch in person, to withdraw cash or deposit a cheque or request a statement of accounts. In true Internet banking, any inquiry or transaction is processed online without any reference to the branch (anywhere banking) at any time. Providing Internet banking is increasingly becoming a need to have than a nice to have service. The net banking, thus, now is more of a norm rather than an exception in many developed countries due to the fact that it is the cheapest way of providing banking services. The rapid development of E-banking services carries risks as well as benefits. This research paper will introduce you to e-banking giving the meaning, functions, types, advantages and challenges in adoption of e-banking. It also aims at suggesting some ways for making e-banking successful in the developing country like India.