Impact of E-Banking its Growth and Future in India

Abstract

E-Banking has become an integral part of the global financial environment. Improvement in technologies and financial innovations has made E-banking is an intense part of the banking sector. “As day by day increasing the technologies are also increasing”. Technology has become the fuel for rapid change. In earlier times, the banking customers were required to visit in a bank in order to transact their accounts in the bank but now by the help of E-Banking the customers do not need to visit in a bank and with the help of internet, customers can easily transact their accounts from anywhere. E- Banking is playing a major role that it’s improving the service quality and strengthens the banking sector because of the electronic payment there is increase in customer satisfaction level, increased productivity, reduction in cost of banking operations, settlement faster and in large volumes. The world has become a global village and it has brought a revolution in the banking industry because of increasing in the development of information technology. The key trends are discussed for their impact on future E-Banking services.