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ELECTRONIC BANKING SERVICES – A PRELUDE
Authors: Sruthy Madhavan
Number of views: 428
Electronic Banking also referred as online banking, virtual banking, Internet banking simply means use of
banking products and services through electronic means. Online banking services have become very popular among the
customers from quite some time. It has become popular not only in advanced countries, but also in the other parts of the
world and has offered new opportunities to the customers. It is beneficial for the customers as it is faster, convenient and
provides 24X7 services to the customers irrespective of their location, i.e. e-banking eliminates the disadvantages of
manual procedures like slowness, tardy, manipulation of records, etc. The customers can view their transactions, print out
their statement, can transfer funds, and can make payments. Besides this, it is an efficient and cost-saving channel for
banks too. In India as economic reforms introduced over 1991 banking industry has made significant progress, in which
e-banking is playing a crucial role.