Page 1 of 10
European Journal of Business &
Social Sciences
Available at https://ejbss.org/
ISSN: 2235-767X
Volume 07 Issue 01
January 2019
Available online: https://ejbss.org/ P a g e | 326
Increasing Trend of E- Banking in India and Its
Future Scope
Sikkam
designation
student M. com final year
UGC NET QUALIFIED JULY 2018
ABSTRACT
Banking sector is an essential component of Indian financial sector. Banks
provide many services to the customers. E-banking is one of the services
provided by the banks to the customers. E-banking comprises the facilities
like internet banking, mobile banking, automated teller machine etc.
With the help of e-banking, the customers need not to go to related banks
for any kind of bank related activity as most of the activities are covered
under the service of e-banking and all these activities are accomplished
online through internet. These banking activities include withdrawal of
cash, generating account statement and transferring funds etc. E-banking
has certainly made the banking so convenient that customers have become
independent of banking staff. As a result, the burden on the banking staff
has also reduced. The current paper highlights the trend of e-banking in
India.
KEYWORDS:
E-banking, Bank, Customer
Page 2 of 10
European Journal of Business &
Social Sciences
Available at https://ejbss.org/
ISSN: 2235-767X
Volume 07 Issue 01
January 2019
Available online: https://ejbss.org/ P a g e | 327
INTRODUCTION
The scope of e-banking is increasing in India year by year with the
advancement of technology. Internet banking comes under this kind of
banking. Internet banking is web-based service where an authorized
person uses the identification number and password given by the related
bank.
The authorized bank customer can login the related bank website by
using these confidential id and password. After providing this
information, the data is matched with the server data and after the
verification of authenticity of the customer; he/she is provided banking
services like money transfer, online checking of account statement etc
making the banking activities easier.
Mobile banking is also an essential part of e-banking. With the increase
in the mobile users in India in recent years, the scope of mobile banking
has grown up in an effective way as most of the bank customers prefer
mobile banking for various banking activities.
Mobile banking also provides the facility of money transfer, generation of
account statement etc. Here, the customer has to link their mobile
number with the account number. To carry out these facilities, one time
password i.e. OTP is sent on the registered mobile number of the
Page 3 of 10
European Journal of Business &
Social Sciences
Available at https://ejbss.org/
ISSN: 2235-767X
Volume 07 Issue 01
January 2019
Available online: https://ejbss.org/ P a g e | 328
customer. After verifying the one time password, the user is allowed to
perform bank related activities through the mobile or smart phone.
Now, the debit cards are provided to the bank customers. These cards
can also be used to pay the bills by swapping through the machine. The
details like debit card number and CVV are provided in order to pay the
bills online or loading the amount of money in the online wallet so that
banking services can be made easier.
Security issue is regarded as the most critical issue for e-banking as in
some cases, it is observed that the hackers track the account details of
the customers online and transfer their money in their own account.
These cases are very common in rural areas where the people have no
much awareness and the fraud people get the account details like
account number, CVV and ATM pin code etc. through phone calls by
making fake banking agents.
In India, almost all the banks provide the facility of e-banking making
the customers independent of financial organizations. Also, it is observed
that with the introduction of e-banking, the banking staff member get
more time to perform their bank related tasks eliminating the time that
they had to spend to deal with the customers before the era of e-banking
and its services.
