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Module 4

Net banking in India refers to online banking services accessible via a bank's website or mobile app, promoting a cashless economy. It offers convenience, cost-effectiveness, and multiple banking options, allowing users to manage their accounts remotely. The document also provides a step-by-step guide on how to operate Google Pay, emphasizing security measures like UPI PIN and notifications for transaction awareness.

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tanisi.ramrakhyaniug2023
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8 views3 pages

Module 4

Net banking in India refers to online banking services accessible via a bank's website or mobile app, promoting a cashless economy. It offers convenience, cost-effectiveness, and multiple banking options, allowing users to manage their accounts remotely. The document also provides a step-by-step guide on how to operate Google Pay, emphasizing security measures like UPI PIN and notifications for transaction awareness.

Uploaded by

tanisi.ramrakhyaniug2023
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Net Banking in India

What exactly do we mean by “net banking” ?

Refers to banking services available online through a bank's website or mobile app.

This helps our country to move towards a “cashless” economy. Cashless here means
holding money without paper notes and coins.

How does this help us?

Allows customers to perform various banking transactions remotely.

Benefits of Net Banking

●​ Convenience - You can access your bank account through a simple smartphone.
This way you don’t have to worry about visiting a bank to withdraw money.
●​ Access - you learn how to control your own bank account and can access all
information from your balance to your transactions every day. This can also help
in budgeting better!
●​ Cost effective - Netbanking allows you to use your normal smartphone for bank
related things. This saves you time and also the cost of visiting a bank often.
●​ Multiple Banking Options - helps you access all bank services at your fingertips.
You can apply for loans, make a new FD etc all through your phone.

That is why the country is moving progressively towards net banking. You should take
advantage of your smartphone and do the same!

How to operate an app like Google Pay.

There are various apps that one can use to gain the advantages of Net Banking. Here
we will show you how to start on an app like Google Pay.

Step 1 - Download the App - go to your App Store or Google Play Store and download
the app you wish to use, here Google Pay.

Step 2 - Select Language and Sign-In


Select the language you are comfortable with and sign in with your “Google Account”. If
you don’t have a Google account, wait till the question answer session where we will
teach you how to make a Google account. Make sure to use the Google account
connected to your bank account and registered mobile number.

Step 3 - Verify your mobile number


Once you enter your phone number, Google Pay will send you an “OTP” which is a one
time password. Enter that on the screen and verify your phone number. Remember do
not share your OTP with anyone else!

Step 4 - Set Up Security Password


If you are worried that someone will be able to access your account if you lose your
phone, don’t worry!
Google Pay allows you to set up a different password which you have to enter every
time you open the app. This will keep your app safe from external use.

Step 5 - Add your Bank Account


On the app, go to the option that reads “Add Bank Account” or “Add Bank Account or
Debit Card”

Choose your bank from the various options given there. Remember to enter the bank
where you already have a bank account.

Now, Google pay will automatically verify your details and link your bank account to your
phone.

Step 6 - Create UPI Pin


Now, you must create a 4 digit UPI pin.

You will be required to enter this pin every time you try to pay someone through your
Google Pay phone app.

This is a very important step and you must remember that this number will allow anyone
to pay through your account. Therefore, NEVER share your UPI PIN with ANYONE.

Step 7 - Start Using Google Pay:

●​ After setting up your UPI PIN, you can start using Google Pay to:
○​ Send money to friends and family.
○​ Pay at shops and online merchants that accept UPI payments through QR
codes.
○​ Recharge your mobile phone or pay utility bills.
○​ Check your bank balance and view transaction history.
Other UPI apps work in a very similar manner. However, if you are ever facing an issue
setting up the account, you can always reach out to one of us and we will help you out!

Security with Net Banking

Google Pay uses multiple layers of security, including your UPI PIN and Google
PIN/phone lock, therefore it is a completely safe way to conduct financial transactions
provided you keep your passwords safe.

You can also enable notifications and be aware of how much money is coming into or
going out of your bank account.

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