E-BANKING IN INDIA - ISSUES AND CHALLENGES

Abstract

Modernization of the country requires the digitalization of different sectors of the economy. E-banking is the one of the important processes for achieving the digitalization in the country. E-banking is the modern banking services with use of electronic means for banking transaction. Primarily it is the process of conduct of banking activities by the customer through electronic means.  It stresses on reach of banking activity to the doorstep of the customer through electronic means. Here some of the important banking activities are handled by customer themselves with using financial institution website. Most of the financial institutions in India provides wide range of E-banking services to its customer to make banking services more attractive and to ensure the smooth operation of banking business in the country.  Majority of the services and activities in the financial sectors are carried out through online with using internet. In this background paper going to look on different types of e-banking initiatives of modern bank and also highlighted issues and challenges involved in the e-banking.