E-Banking in India: a Study with Reference to Various Financial Services

M.K Shafi. Muhammed

Abstract


Electronic banking and finance is the penetrating mechanism with a variety of services especially in the banking sector. Globalization and technological advancement like kiosks and internet brought many products and services like ATMs, Smart cards, Online Banking which is facilitating electronic payment, Plastic money services, Brokerages and foreign exchange transactions, which automatically leads to wide access of B2B and B2C business domains. The website technology has totally transformed the banking business. The success of Internet banking depends upon the well designed website of a bank. India has 155 scheduled banks with 99,218 ATM network (June-2012). SBI leads the pack with 22,469 ATMs followed by Axis Bank with 10,337 ATMs. In India E-Finance are governed by several acts like IT act-2000, Central bank guidelines on internet banking etc. Even it has many advantages; E-Finance in banking sector has associated with many risks like security risk, System architecture and design etc. So this paper discusses the impact of E-Finance on banking sector, its various products and services, diverse risk associated with electronic banking services and its solutions to tackle these challenges. The study is based on exploratory research mainly on qualitative analysis.

Keywords


E-Finance, Electronic banking products and services, Mobile Banking, Risk Management of E-Banking

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References


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