Role of Online Banking in Economy

Abstract

The new economy, also called e-economy, is the most frequently used term in economic and technical literature, discussions of scientists, businessmen and politicians beside globalization and information technology society. Three planes of understanding of the new economy can be distinguished: as a system of new principles explaining how economic subjects function on the market; as activities of economic subjects in the strongly changed conditions. Owing to the dynamic development of technical progress, especially in information technology economic subjects change completely strategy of their activities many times. Information and knowledge as main economic categories, which are the basis of the contemporary business, are the foundation of activity another term is assigned to this understanding, namely knowledge-based-economy. The third plane, new economy treated as a subject, namely determining activities of an enterprise in the IT sector. Therefore, the new economy, also called cyber-economy, constitutes a new paradigm of business. On this virtual market E-business is a new form of an exchange of resources by means of information technology systems and internet technologies, conducted on-line through electronic connections and an information n exchange by use of electronic multimedia such as Internet, cable and satellite television, telephony, electronic cards, Intra and Extranet at the national and international level.