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    Manjinder Singh
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    E-banking refers to providing banking services through electronic channels allowing customers to access accounts without time or location limitations. It developed in the 1980s alongside the internet and TCP/IP communication system. The Reserve Bank of India categorized internet banking into three types: information only, electronic information transfer, and electronic fund transfer. E-banking offers benefits like convenience, lower costs, faster transactions, and increased competitiveness for banks, businesses, and customers. However, it also faces disadvantages such as requiring computer skills not all customers have, potential for customer confusion during site changes, and security risks.

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    E-banking refers to providing banking services through electronic channels allowing customers to access accounts without time or location limitations. It developed in the 1980s alongside the internet and TCP/IP communication system. The Reserve Bank of India categorized internet banking into three types: information only, electronic information transfer, and electronic fund transfer. E-banking offers benefits like convenience, lower costs, faster transactions, and increased competitiveness for banks, businesses, and customers. However, it also faces disadvantages such as requiring computer skills not all customers have, potential for customer confusion during site changes, and security risks.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
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    Download as docx, pdf, or txt
    27 views6 pages

    What Is E

    Uploaded by

    Manjinder Singh
    E-banking refers to providing banking services through electronic channels allowing customers to access accounts without time or location limitations. It developed in the 1980s alongside the internet and TCP/IP communication system. The Reserve Bank of India categorized internet banking into three types: information only, electronic information transfer, and electronic fund transfer. E-banking offers benefits like convenience, lower costs, faster transactions, and increased competitiveness for banks, businesses, and customers. However, it also faces disadvantages such as requiring computer skills not all customers have, potential for customer confusion during site changes, and security risks.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 6

    What is E-banking?

    Definition:
    The provision of banking service through
    electronic channels and the customer can
    access
    the data without time and geographical
    limitation
    Development of E-banking
    1980s :
    -
    Rapid development of the Internet
    -
    TCP/IP system (communication system)
    E-commerce
    RBI & E-Banking
    The Reserve Bank of India constituted a
    working group on Internet Banking. The
    group divided the internet banking
    products in India into 3 types based on
    the levels of access granted. They are:-
    i) Information Only System:
    ii) Electronic Information Transfer
    SERVICE PROVIDED BY sbi
    Self-account funds
    transfer across India.
    Third party transfers in
    the same branch
    New account opening
    Demand Draft requests
    Standing instructions
    New Cheque-book
    request and much more Railway tickets booking, Utility bill
    payments
    LIC and other insurance
    premia payments,
    SBI Mutual funds
    Investments
    Remit Subscription to PPF
    account,
    Credit card dues
    payments,
    Deposit your taxes,
    Donations to your
    religious inspirations
    Donations to Red Cross
    and such other
    organisations

    SERVICE PROVIDED BY icici


    BILL PAYMENT
    FUND TRANSFER
    ACCOUNT
    INFORMATION
    SMART MONEY
    ORDER
    SERVICE REQUEST
    CONVERT TO EMI
    A/C TO CARD
    TRANSFER
    PREPAID MOBILE
    RECHARGE
    ACCOUNT TRANSFER
    Advantages of E-banking
    vBenefits for Banks
    vBenefits for Small to Medium Businesses
    vBenefits for Customers
    Benefits for Banks
    Larger customer coverage
    Reducing the costs of operations
    Promoting their services and products
    internationally
    Increasing the customer satisfaction and providing a
    personalized relationship with customers
    Benefits for Small to Medium Businesses
    To run its operations more effectively
    Lower cost than traditional financial
    management mechanisms
    Benefits for Customers
    Convenience
    -24 hours a day, seven days a week
    Cost
    -Reducing transfer fees
    Speed
    -Faster circulation of assets
    Competitiveness
    -
    F o s te rin g c o m p e titio n in fin a n c ia l m a rk e t

    Benefits for Customers


    Communication
    communicate easily
    Environmental
    Abolishing the uses of paper
    Others
    -
    Offering one-stop-shop solutions
    Disadvantages OF E-banking
    ØA need for customer skill to deal with computers
    and browsers.
    E.g. Elderly, Housewives → Inconvenient
    ØSite change it will make the customer have some
    confusion or delay.
    ØSecurity Risk

    Disadvantages OF E-banking
    ØA need for customer skill to deal with computers
    and browsers.
    E.g. Elderly, Housewives → Inconvenient
    ØSite change it will make the customer have some
    confusion or delay.
    ØSecurity Risk

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