E-BANKING SYSTEM IN INDIA

Presentation by

Neha Goyal PGDRB 2011-12

E-BANKING
Banking done electronically is electronic banking. In other words, it is the products and services provided by the banks by using the electronic media or internet.

RANGE OF SERVICES OFFERED

Electronic Funds Transfer (EFT) Automated Teller Machines (ATM) Point of Sales (PoS) Electronic Data Interchange (EDI) Credit Cards Debit Cards Smart Cards Digital Cash

BENEFITS TO THE BANK

Competitive advantage Unlimited network Lesser work load Marketing tool Lesser establishment costs Lesser chances of fraud & misappropriation Better profitability Better customer relationship

BENEFITS OF E-BANKING

Any time banking Any where banking Cash free banking Reduction in Cost of transaction Easy to make utility payments On-line purchases

Drawbacks

Difficult in the adoption of technology Fear of technology High cost of technology Lack of preparedness Restrictions on usage of technology

Initiatives taken by RBI

Several initiatives taken by the Government of India as well as the RBI have facilitated the development of E-banking in India. The Govt. of India enacted the IT Act, 2000 with effect from Oct.17,2000, which provides recognition to electronic transactions and other means of electronic commerce. The RBI has been gearing up to upgrading itself as a regulator and supervisor of the technologically dominated financial system.

Conclusion
The potential of E-banking is huge. With the increase in connectivity, the number of users will explode, says K.V. Kamat, the CEO of ICICI Bank. The strategy for banks is to provide value-added services to products to customers utilizing the Internet extensively.

THANK YOU
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