Contribution of Cyber Banking towards Digital India: AWay Forward

Government of India encourages people at large to walk towards cashless economy. This can be attained by maximising the use of debit and credit cards, electronic payment gateway systems such as National Electronic Funds Transfer (NEFT) and real-time gross settlement (RTGS). Also with increased use of Internet, mobile adoption, new channels like websites, social media and mobile apps supply new and attractive ways to consumers to access financial transactions. The study of this article is to find contribution of cyber-banking services towards Digital India. The objectives of this study are to locate Drivers of Digital Banking Transformation, contribution of Indian banks towards Digital India, facilities bestowed by Indian banks to make cashless economy, key barriers to digital payments and to identify threat for banking sector. Technology has become a key driver tool that can smooth bank's organisational structures, business strategies, customer services and related functions.