E-BANKING: CHALLENGES AND ISSUES (original) (raw)

E-Banking:Advantages, Challenges and Opportunities in the Indian Context

2017

There has been an extensive expansion of the Indian financial system, out of which the banking sector is considered as the most significant component. Banks are the lifeline of any economy and are indispensable in a modern society. Today banks have expanded their purview of activities and are getting into new range of products and services like e-banking services, investment banking, mutual funds, general insurance, credit cards, demat services and so on. Due to liberalization, the financial system has a greater role to play than in the past and thus one cannot afford to ignore the importance of existence of a strong Indian banking sector. Increasing levels of competition and information age environment have exposed banks to a variety of challenges like technology, customer service, Basel III norms, new accounting standards, transparency, disclosure and corporate governance. The present study is an attempt to study the status of e-banking in India, growth in e-banking transactions, ...

The Challenges of E-Banking in India

E-Banking remains one of the most successful outcomes of E-Commerce revolution that changed the way the world traded. While it helped the Banks & Businesses grow multifold, it provided customers with lot of convenience and safety. This paper tries to analyze the challenges faced by E-Banking in India and also discusses how they were overcome or being worked upon. It discusses the benefits derived by all the parties concerned like customers, banks, businesses & government. It suggests ways to penetrate the inner lands of India and discusses the advantages to be derived from the same.

Challenges and Opportunities of E- Banking in India

2020

The financial sector performs a significant part in a country's economic growth. Financial services are an economic lifeline. Significant prerequisite for economic growth is a stable and safe banking system. Indian banking sector is experiencing an IT revolution today. The Banks have been modernized by internet incorporation of banking bodies. The adoption of the internet banking strategy has helped both customers and banks alike. Taking into account the advantages, Banks around the world have embraced Internet banking and banking organizations in India, and that is no exception. Inside the Indian banking industry, bank competition has led to increased complete banking automation. Electronic Banking is a concept specific to Online banking, mobile banking, etc. The Bank needs to incorporate the central principle of electrical banking services based on IT. The Electronic Banking services are conducted on the client only, and these electronic banking services will be completely inc...

GROWTH OF E-BANKING: CHALLENGES AND OPPORTUNITIES IN INDIA

E-Banking plays on important role in the current banking functions in India. E-Banking system is very safe and secured, compare to traditional banking system. E-Banking ensure quality banking operations to traditional banking. E-Banking is a service which is available anyone and everyone who is bank account holder.it provides the customers to easily access the website using their user name and password, and carry on with the transaction even if the bank is closed. The objective of the paper is to examine growth of E-Banking, E-Banking challenges and opportunities in India. The paper also highlights the E-Banking products, services and challenges faced by Indian banks adopting the new technology.

E-Banking: An Innovative Model of Information Technology in Indian Banking Sector

isara solutions, 2017

This research paper highlights the role of Information technology in Indian banking sector and will trigger some of the important research questions. Not so long ago accessing our own money was about setting aside a couple of hours, getting to the bank before closing time, standing in one queue to get a token and then in another to collect the cash. These things were of those days, when the banking sector primarily consisted of traditional systems. Now, the nature of banking has changed beyond recognition with ATM cards, simple banking transactions like withdrawing and depositing money are easier than ever before.

Economic and Financial Implications of E-Banking in India

Shanlax International Journal of Commerce

Electronic Banking act, perhaps, the newest ways to provide comfort to the customer in regards to fiscal transactions. The significant idea is to provide a movement of organizations to the customer in the course of the web and cause the customer to feel versatile in getting out straightforward undertakings quicker rather than step over the bank unfailingly. Now, assured, for the most part, pleasing and less danger orchestrated looked by using banking parts the utilization of E-commerce. Electronic Banking is treated to significantly influence banks’ exhibition. An ever-increasing number of individuals are adjusting to this procedure, and the financial business will unquestionably expand. The development of E-Banking started with the usage of ATMs and has incorporated mobile banking, direct invoice section, E-store, and online banking. The present research shows that effective use based on Electronic Banking can empower their nearest banks to reduce working costs and give an unrivale...

Future Scope of E-Banking in India

Journal of emerging technologies and innovative research, 2018

Today most of the banking happens while you are sipping coffee or taking an important call. ATMs are at your doorstep. Banking services are accessible 24x7. There are more plastic cards in your wallet than currency notes. A huge part of this change is due to advent of IT. Banks today operate in a highly globalized, liberalized, privatized and a competitive environment. In order to survive in this environment banks have to use IT. Indian banking industry has witnessed a tremendous developments due to sweeping changes that are taking place in the information technology. This work involves descriptive research design as my project is questionnaire based. Descriptive research includes survey and fact-finding enquiries kinds. The major purpose of descriptive research is description of the state of affairs, as it exists at present. For this study the sample size is 50 people of the area New Delhi, who were using the E-Banking services.

ELECTRONIC BANKING CHALLENGES IN INDIA: AN EMPIRICAL INVESTIGATION

2012

Increased competition, changing business environments, globalization and the advancement of Information and Communications Technology are the important factors that have forced Banking and Financial services to change. Demand for financial services is changing rapidly and customer behavior regarding these services is also adapting rapidly. Therefore, with the passing of the traditional banking sector to electronic banking, new strategies have become necessary in order to attract and retain existing customers. Despite enormous pressures for change and investment in Information Technology in the Banking field, if these investments do not work in accordance with the principles of investment, they will fail. This investigation will review available sources and studies conducted in this field, and seek to find out the main factors and challenges posed in the development of electronic banking after a relatively long period of adoption in India. This paper provides a possible six factor model centered upon the following: infrastructure, knowledge, legal-security, socio-cultural, economic and management and banking issues. The results of the study indicate that legal and security, socio-cultural, and management and banking issues are accepted as challenges for the development of e-banking but that there is less awareness regarding new technologies and unsuitable software which are ranked respectively as the highest and lowest obstacles in India.

E-Banking: Status, Implementation, Challenges,Opportunities

Increased competition, changing business environments, globalization and the advancement of Information and Communications Technology are the important factors that have forced Banking and Financial services to change. Demand for financial services is changing rapidly and customer behavior regarding these services is also adapting rapidly.Electronic banking is the wave of the future. It provides enormous benefits to consumers in terms of the ease and cost of transactions. But it also poses new challenges for country authorities in regulating and supervising the financial system and in designing and implementing macroeconomic policy.The major challenges that Electronic banking is facing is the security variability, lack of knowledge of end users, failure of bank transitions, user interface etc. In this paper we also conclude that what factors should be enhanced to improve Electronic banking.

CRITICAL SUCCESS FACTORS IN E-BANKING: AN INDIAN PERSPECTIVE

Tap, click and swipe-these are the new sounds of money. Modern technology is fast replacing paper with computer files, bank tellers with automated teller machines (ATMs) and file cabinets with server racks , and banks too have come a long way from the old days of manually recording transactions in registers and tallying them up at the end of the day. Now, customer can do multiple things from the comforts of home or office with e-Banking - a one stop solution for all banking needs. This study aims to present the factors which are critical for the success of e-banking in India. The top three factors critical for success of e-banking included: cost and promotion; security and privacy; ease of use. Apart from these banks need to pay attention towards enhancing of its services and developing simpler websites with useful content.