How Necessary the E-banking is? : An Overview
Author(s): Ms. N S L Praveena, Mrs. D S CH S Harini
Publication #: IJIRCT1809001
Date of Publication: 06.09.2018
Country: India
Pages: 1-5
Published In: Volume 4 Issue 5 September-2018
Abstract
Cyber cafes and kiosks springing up in different cities access to the Net is going to be easy. Internet banking (also referred as e banking) is the latest in this series of technological wonders in the recent past involving use of Internet for delivery of banking products & services. Even the Morgan Stanley Dean Witter Internet research emphasized that Web is more important for retail financial services than for many other industries. Internet banking is changing the banking industry and is having the major effects on banking relationships. Banking is now no longer confined to the branches were 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.
Keywords: Net banking, Impact of E-banking, Advantages, Disadvantages
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