Question 2

What is e-banking. What are the advantages of e-banking?


Recent world is of computers. Computers are affecting every walk of our life or our daily routine of an particular individual or an organisation. By the extensive network of computers which is connected through internet, the world is rendered into the global village. With the disclosure of Internet banking, banking scenario is also changing quickly. E- banking implies performing all the functions or duties of commercial banks to be conducted electronically. Advantages of e-banking are as follows:
1. Helps to manage savings and checking accounts, apply for loans quickly and easily round the clock.
2. Customers can see balances on line and find out whether cheques or deposits have cleared.
3. Customers can easily transfer their funds between the two accounts.
4. It gives demat services for the shares.
5. Customers can easily down load financial information (relating to their FDs, A/c, cheques, Bills etc.) into personal computer rapidly.

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