Electronic Banking Systems in India

Banks have Technological means towards on-line banking programmes. The reach and delivery capability of computer networks such as the Internet far exceeds any proprietary bank network ever built and makes it continually easier for customers to manage their money anywhere, anytime. Banks understand the need to separate the content (financial product) from the distribution channel. The traditional model of integrated delivery has out-lived its usefulness and needs to be reconsidered. Banks recognize the potential benefits of early entry into what will inevitable be an important but crowded market. The challenge for the banking industry lies in creating the right atmosphere and providing the right incentives for consumers to use personal computers regularly for banking and in making sure they provide attractive and affordable services. The major routine processing in day-to-day banking operations originates at the cash counter or letter counters in the banks. Essentially the idea behind the electronic payment system is that a number of the activities related to payment should be done with the help of computers