Challenges of e banking in india

It is this fact that has made ECS unattractive among the customers.

Growth of internet banking

Other Challenges While the above ones are the challenges faced by various services being offered under the E- Banking, there are couple of others which are common to any given bank. Moreover, recently it appears that demonetisation has provided the greatest impetus to cashless transactions across all sectors in the country, including in the banking industry. Illiteracy : Unlike in the use of mobile phones banking requires an awareness about processes, rules and regulations. It will discourage the black money which has been root cause of many evils in the nation for over six decades now. ATM Services 2. However to make full use of this technology so that all the interested parties viz; customers, banks and businesses benefit the maximum from it, the paper tries to give certain suggestions to all the concerned as below. The following figures substantiate this fact.

According to a recent study India has over million savings bank accounts. Banking is not a product but a service. According to one of the reports innon-cash transactions in India have surpassed billion in number.

Two of the major contributors to this remain Automation of Banking and Birth of Internet. Liberalization which resulted in the birth of some prominent Private banks today has brought about this welcome change.

Penetration : Unlike Mobile Telephony Banking has not been able to make inroads into the rural heartland of India.

Digital banking challenges and opportunities in india

It suggests ways to penetrate the inner lands of India and discusses the advantages to be derived from the same. Provision of e-services to all in the country through improved online infrastructure and internet penetration and connectivity lies at the heart of this Campaign. In the given scenario, this paper aims to briefly trace the evolution of e-banking in India, its current status, and future opportunities and challenges, in the wake of Digital India and demonetisation, particularly. However to make full use of this technology so that all the interested parties viz; customers, banks and businesses benefit the maximum from it, the paper tries to give certain suggestions to all the concerned as below. Information leak due to easy accessibility of a mobile handset. Conclusion E-Commerce especially E-Banking is here to stay. This paper tries to analyze the challenges faced by E-Banking in India and also discusses how they were overcome or being worked upon. The disputes are very difficult to settle.

Since the profit margin is a diminishing commodity nowadays, sellers detest this by discouraging use of card and encouraging sales on cash. Illiteracy : Unlike in the use of mobile phones banking requires an awareness about processes, rules and regulations.

M, Shenoy, P.

challenges of e banking regulations

However there is a problem in cancellation of the same.

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