THE IMPACT OF E-BANKING SYSTEM IN INDIA

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Presentation transcript:

THE IMPACT OF E-BANKING SYSTEM IN INDIA Presentation by:- DEEPIKA MEHTA

It is generally said… “networked individuals and firms are more efficient than networthed individuals…”

E-BANKING Banking done electronically is electronic banking. In other words, it is the products and services provided by the banks by using the electronic media or internet.

RANGE OF SERVICES OFFERED Electronic Funds Transfer (EFT) Automated Teller Machines (ATM) Electronic Data Interchange (EDI) Credit Cards Debit Cards Smart Cards

BENEFITS TO THE BANK Unlimited network Lesser work load Marketing tool Lesser establishment costs Competitive advantage Lesser chances of fraud & misappropriation Better profitability Better customer relationship

BENEFITS OF E-BANKING Any time banking Any where banking Cash free banking Reduction in Cost of transaction Easy to make utility payments On-line purchases

Drawbacks Difficult in the adoption of technology Fear of technology High cost of technology Lack of preparedness Restrictions on usage of technology

E-banking in India In India, it was ICICI Bank which E-banking as early as 1997 under the brand name ‘Infinity’

Conclusion… “The potential of “E-banking is huge. With the increase in connectivity, the number of users will explode”, says K.V. Kamat, the CEO of ICICI Bank. The strategy for banks is to provide value-added services to products to customers utilizing the Internet extensively.

THANK YOU . JAI HIND