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The expansion of the Internet and e-commerce is dramatically changing the daily life, with the world wide web and e-commerce altering the world into a digital global village. The most recent change in information technology is the internet banking which is a part of virtual banking and another delivery channel for customers. In easy terms, internet banking helps any user with a PC and a browser to connect to the banks website to perform any of the virtual banking functions and avail any of the bank's services but there is no human operator to respond to the requirements of the customer. The banks have a integrated data base which is web-enabled. The services of that bank which it has permitted on the internet are shown as a menu. The service is selected and later interaction is dictated according to the nature of service. With the help of this new digital market place banks and financial organizations have started presenting services on the internet. This type of service provided by the banks on the internet is called e-banking which lowers the transaction expenses and gives value to the banking relationship and also empowers customers. e-banking is also called electronic banking or banking with electronic media. Thus, it is a service presented by various banks, that allows, a customer to handle banking transactions, such as managing savings, checking accounts, applying for loans or paying bills using the internet with a personal computer, mobile telephone or any handheld computer (personal digital assistant) The various services provided by e-banking are: Electronic Funds Transfer (EFT), Automated Teller Machines (ATM) and Point of Sales (PoS), Electronic Data Interchange (EDI) and Credit Cards Electronic or Digital cash.


The benefits by e-banking are:
  1. They provide 24 hours, 365 days a year services to the customers of the bank;
  2. Customers can also make a few of the permitted transactions from office or house or during travel via mobile telephone;
  3. It impresses a sense of financial discipline by registering all the transactions;
  4. More customer satisfaction due to offering of unlimited approach to the bank, not bounded by the walls of the branch and lesser risk but greater security to the customer as they can avoid travel with cash in hand. The banks can also profit by e-banking.
The benefits are:
  1. It gives competitive edge to the bank;
  2. It gives unlimited network to the bank and is not bounded by the number of branches, Any PC connected to a modem and a telephone having an internet connection can provide cash withdrawal requirements of the customer;
  3. Load on branches is effectively reduced by establishing centralized data base and by taking over few of the accounting functions.

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