EQUALITY BETWEEN EQUALS: A Study on Gender

Equality and Affirmative Action.

 AN ANALYSIS: THE AGE OF INTERNET BANKING IN INDIA.

ABSTRACT

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The world is progressing towards a digital arena. It’s important that India follows the pursuit
of the changing scenarios to keep up with the developing and developed countries. Online
banking is a stepping stone to achieve this goal. It is essential that we understand the
evolution of Internet banking before analyzing the current framework. Demonetization, as we
know, has prompted people to transform into a cashless society but the obstacle faced was
that 70% of transactions in India are done in cash and the cash crunch brought on by
demonetization added to the issue. Here in this paper, we will be trying to bring in
perspectives of people relating to online banking through the dual vision of a lawman and a
layman. Even though internet banking has made personal and business banking more
efficient and faster, like every coin has two sides, this one also does have its own share of
disadvantages.We’ll strive to provide insight into the drawbacks of the current system such as
the lack of efficient security for sensitive information and the unavailability of internet
services in major parts of India. We’ll also be discussing ‘Digital India’ which is a flagship
program of the Government of India with a vision to transform India into a digitally
empowered society and knowledge economy as we are focusing on the Indian situation. So in
toto, we’ll be studying and scrutinizing the origin, development, advantages & disadvantages,
current structure and project the future situation of online banking in India.

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KEYWORDS: demonetization, online transactions, security, E-wallet, Digital India.

INTRODUCTION