Impact Of Banking In Banking

IMPACT OF E BANKING ON TRADITIONAL BANKING SERVICES

Dhanya PV ¹

¹ M,Phil., Scholar, Dept. Of Economics, Gandhigram Rural Institute- DU, Gandhigram, Dindigul, Tamil Nadu, India, [e-mail]

Abstract

Banking Industry is the backbone of the financial system of a country. The need to survive in the changing environment has leaded the banking industry to adopt internet as a medium of operating in the market. Internet banking provides alternatives for faster delivery of banking services to a wider range of customers. Internet banking refers to the use of internet as a remote delivery channel for banking services. It means any user with a personal computer and a browser can get connected to his bank website to perform any of the banking

It is a major innovation in the field of banking services. In the earlier period banking was conducted their services only very traditional manner there were no such type of innovations. Information technology led to the evolution of internet it lead to E-commerce continued by evolution of internet banking. E-banking is the generic term for the delivery of banking services and products through the electronic channels such as the telephone, internet, cell phone etc. In internet banking system the bank has a centralized database and a web is enabled. The service provided by the bank has displayed in the menu. It is a borderless entity permitting anytime, anywhere in the world. Electronic banking provides benefits to the consumers in terms of ease and cost of transactions either through internet, telephone or other electronic

Recharge your prepaid phones: Now there is no need to rush to the vender to recharge the prepaid phone, every time the talk time runs out. Just top- up the prepaid mobile cards by logging to internet banking.

5. Shopping at your finger tip: leading banks have tie -ups with various shopping websites with a range of all kinds o products one can shop online and the payment is also made conveniently through the account.

Advantages of e- banking

Convenience: online banking sites never close, they are available twenty four hours a day, and seven days a week and they were only a mouse click away.

Ubiquity: If you were out of state or even out of the country when a money problem arises, you can log on instantly to your online bank and take care of bank business.

Transaction speed: online bank sites generally execute and confirm transactions at or guides them ATM processing speeds.

Efficiency: you can access and manage all of your bank account including IRAs, CDS even securities from one secure site.

Effectiveness: many online banking sites now offer sophisticated tools including, account aggregation, stock quotes, rate alerts and portfolio managing programs to help you manage all of your assets more effectively.

Disadvantages of