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Hdfc Net Banking (Nagesh Dhawale)

Hdfc Net Banking (Nagesh Dhawale)

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Published by Rahul Parte

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Categories:Types, School Work
Published by: Rahul Parte on Jun 25, 2012
Copyright:Attribution Non-commercial

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12/16/2013

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WHAT IS NET BANKING……
 
NET BANKING
Are you still banking with your local bricks and mortar bank?
Thinkingabout going to a 100% online banking institution?
It‟s a decision many people are
making as an increasing number of people become internet savvy, but how do you
know if it‟s the right decision for you?
 An increasing amount of  financial products are being offered online, in order to give consumers the flexibility of handling their banking needs twenty four hoursa day, seven days a week.
Online banking wasn‟t meant to change people‟s money
habits, but instead, is there to give you the option of bypassing the constraints of local bank hours, helping you save on fees, and skipping much of the paper basedrecord keeping of traditional banking.Onlinebanks are often able to provide higher interest to savings account holders and lower fees to their account holders. This is due to an online bank having lower operating overhead through operating online rather than in anestablishment.
 
Online banking
(or
Internet banking
) allows customers to conductfinancial transactions on a secure website operated by their retail orvirtualbank,  credit unionorbuilding society.Most of the attacks on online banking used today are based on deceiving the user to steal login data and valid TANs. Two wellknown examples for those attacks arephishing and pharming. Cross-site scripting  and keylogger / Trojan horses can also be used to steal login information. A method to attack signature based online banking methods is to manipulatethe used software in a way, that correct transactions are shown on the screen andfaked transactions are signed in the background.A recent FDIC Technology Incident Report, compiled from suspiciousactivity reports banks file quarterly, lists 536 cases of computer intrusion, with anaverage loss per incident of $30,000. That adds up to a nearly $16-million loss inthe second quarter of 2007. Computer intrusions increased by 150 percent betweenthe first quarter of 2007 and the second. In 80 percent of the cases, the source of the intrusion is unknown but it occurred during online banking, the report states.The most recent kind of attack is the so-called Man in the Browser attack, where a Trojan horses permits a remote attacker to modify the destination account numberand also the amount.
 
OVERVIEW
Online banking is convenient, allowing you topay your bills from the comfort of  your own home while skipping theexpense of postage. But is online banking safe, and are there disadvantages to working with your finances online? Before you jump into the Internet banking craze, find out a little more about the benefits andrisks of banking on the World Wide Web.
AN INTRODUCTION
With cybercafés and kiosks springing up in different cities access tothe Net is going to be easy. Internet banking (also referred as e banking) isthe latest in this series of technological wonders in the recent past involvinguse of Internet for delivery of banking products & services. Even the MorganStanley Dean Witter Internet research emphasised that Web is moreimportant for retail financial services than for many other industries.Internet banking is changing the banking industry and is having themajor effects on banking relationships. Banking is now no longer confined tothe branches were one has to approach the branch in person, to withdrawcash or deposit a cheque or request a statement of accounts. In true Internetbanking, any inquiry or transaction is processed online without any referenceto the branch (anywhere banking) at any time. Providing Internet banking isincreasingly becoming a "need to have" than a "nice to have" service. The netbanking, thus, now is more of a norm rather than an exception in many

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