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    Electronic Banking in India

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    Jatinder Kaur
    The document discusses electronic banking in India, noting that e-banking was introduced in 1991 based on recommendations from the Narsimham Committee and has helped connect remote areas of India to bank branches in major cities through innovations like ATMs, direct bill payment, and electronic fund transfers. However, the banking sector in India faces challenges in further boosting e-banking to meet the needs of young Indian consumers who will increasingly rely on internet banking by 2020, so Indian banks need innovations to provide world-class online banking capabilities.

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    Electronic Banking in India

    Uploaded by

    Jatinder Kaur
    80 views1 page
    The document discusses electronic banking in India, noting that e-banking was introduced in 1991 based on recommendations from the Narsimham Committee and has helped connect remote areas of India to bank branches in major cities through innovations like ATMs, direct bill payment, and electronic fund transfers. However, the banking sector in India faces challenges in further boosting e-banking to meet the needs of young Indian consumers who will increasingly rely on internet banking by 2020, so Indian banks need innovations to provide world-class online banking capabilities.

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    The document discusses electronic banking in India, noting that e-banking was introduced in 1991 based on recommendations from the Narsimham Committee and has helped connect remote areas of India to bank branches in major cities through innovations like ATMs, direct bill payment, and electronic fund transfers. However, the banking sector in India faces challenges in further boosting e-banking to meet the needs of young Indian consumers who will increasingly rely on internet banking by 2020, so Indian banks need innovations to provide world-class online banking capabilities.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    80 views1 page

    Electronic Banking in India

    Uploaded by

    Jatinder Kaur
    The document discusses electronic banking in India, noting that e-banking was introduced in 1991 based on recommendations from the Narsimham Committee and has helped connect remote areas of India to bank branches in major cities through innovations like ATMs, direct bill payment, and electronic fund transfers. However, the banking sector in India faces challenges in further boosting e-banking to meet the needs of young Indian consumers who will increasingly rely on internet banking by 2020, so Indian banks need innovations to provide world-class online banking capabilities.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    *Ms- Monisha* *research scholar*,*Ms- Kanika bhudhiraja* * Asst.

    Professor,
    Department of Management Studies* and *Ms- Jatinder kaur * * Asst. Professor,
    Department of Management Studies of B.M institute of engineering and technology,
    sonipat-131001 Email: [email protected] : 9034632427

    Electronic Banking in India: Innovations, Challenges and


    Opportunities
    Abstract:
    Financial sector plays an important role in the development of an economy. A strong banking
    sector can be termed as lifeline of an economy. Therefore it is not wrong to say that present
    and future of an economy entirely depends upon the success and development of banking
    industry of that economy. In todays era of information and technology an economy cannot
    achieve the target of sustainable development by following traditional banking method. So it
    has become mandatory for developing country like India to increase automation in banking
    industry. The transformation from traditional banking started from use of automatic teller
    machine (ATM), direct bill payment, electronic fund transfer (EFT). The revolutionary online
    banking is being accepted by the customers with growing awareness and education. E-
    banking is a process of banking services and products through electronic channels such as
    telephone, internet, cell phones etc. today many people are moving towards e-banking as buy
    its use it become easy for customers to manage their account from an place and at any time
    and this charge very nominal cost. it is not wrong to say that e-banking is one of the most
    popular and latest technological wonder in field of banking which has given a banking sector
    a new dimension for growth. Ebanking has helped the banking industry in several new way
    but the biggest advantage that it has imparted to this sector in developing countries specially
    country like INDIA is related to improving customer relations.

    In India e- banking was introduce in 1991 instantly after the recommendations of Narsimham
    Committee. The introduction of IT in banking sector of India made banking more reliable and
    sophisticated, now because of e- banking the remote areas of India are also connected to all
    banks branches even though they are in metropolitan cities. According to expert studies by
    2020 average of India will be 29 year and these young Indian consumers are entirely base on
    internet banking. Therefore Indian banks are in desperate need to do innovation and provide
    Indian consumers a world class internet banking capability.

    The present paper mainly focused on the need of innovation in India in field of e-banking and
    also try to put light on the available benefits, opportunities and current challenges faced by
    banking sector to boost up E-banking in India

    Keywords: E-Banking, ATMs, Information Technology, EFT

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