~PREFACE

The human life in general and the financial world in particular has been

profoundly effected by the digital age. Information technology and

communication networking systems have revolutionalised the functiOning of

banks the world-over.

Banks stand to benefit enormously from e-commerce in terms of reduced

transaction costs, improved customer service, better constituent loyalty and

updated business intelligence on all the customers. E-Commerce is also benefiting

the customers by handling expeditious payments and financial transactions at

the speed of thought. Ever growing competitive pressures from e-commerce and

web-based communication are forcing banks to look for more efficient ways of

working in an expanding global market.

E-Banking is emerging as an affecting delivery channel for banks. Mobile

banking is emerging as even more efficient and convenient channel which is all
set to explode as the number of mobile users are increasing exponentially across

the globe. Customers are being provided with additional delivery channels viz.
Internet banking, mobile banking, ATMs, etc. in line with their expectations and

requirements. Each of these channels has its own specific advantages in terms of

convenience, improved customer service and reduced transaction cost.

Out of various delivery channels, E-Banking has taken the lead and has
become the most popular and convenient mode of banking amongst the elite,
educated and networked customers. It enables the customers to perform basic

banking transactions through their PCs, Laptops, Internet etc. irrespective of

their or Bank's location anywhere in the globe.
 Another reason for increased usage and exponential potential of E-Banking

becoming more popular amongst customers is their increasing familiarity with

the technology which is gradually spreading to masses especially at urban and

metropolitan cities. In order to facilitate E-banking, a reliable and robust

networking backbone is an essential pre-requisite.

Banks in India have entered the world of information technology and

computer networking in a big way. However, due to large geographical spread

of the banking in India and lack of basic infrastructure to support computerisation

and networking, the process of technology adoption has been relatively slow

until the new millennium set in with new hopes and better scope.

The financial sector reforms and the opening-up of the economy and its

integration with the global market have facilitated speedier computerisation in

the Indian Banking Sector which has also helped in gradually reducing the cost

of operations, improving customer service, productivity and overall efficiency of

the banking system.

In research work it has been brought out to explain the implementation

strategy of E-Banking in Indian banking scenario.

I am sure, it will prove to be a complete reference material for the bankers,

IT service providers, researchers, foreign institutions, and all other working on
implementation of E-Banking initiatives not only in India, but also in all other
countries, where these initiatives are on implementation stage.