E-Banking: Challenges and Opportunities

The example of India

Scientific Essay, 2010

6 Pages, Grade: 5.75


1. Introduction

Since the Internet was launched our big world has become a smaller one. E-banking has developed from virtual insignificance to millions of users worldwide. Ever since Bill Gates announced in 2008 that "Banking is essential, banks are not.” everybody realized that e-banking has never been more important to our society than it is today. E-banking is a new delivery channel for banks, and has now become a global phenomenon.

This term paper is mostly written from a macro perspective point of view. The micro perspective is often purposely excluded to emphasize the influence of macro economical concerns and requests. The purpose of this term paper is to examine the present situation in India regarding the implementation of e-banking.

2. Definition

E-banking is commonly defined as web-based banking. To derive a more sophisticated point-of-view there is a more comprehensive and well-established definition by the United Nations Conference on Trade and Development (UNCATD). This definition covers almost all areas of e-banking. "Internet banking refers to the deployment over the Internet of retail and wholesale banking services. It involves individual and corporate clients, and includes bank transfers, payments and settlements, documentary collections and credits, corporate and household lending, card business and some others” (UNCTAD, 2002).

3. Evolution of e-banking in India

The focus of this section is to give a brief overview over the evolution of e-banking in India. The stages of development are sharply simplified. For a more detailed study of the evolution it is recommended to consider Mia & Rahman & Uddin, (2007: 38p) and Vasanthakumari & Sheela Rani, (2010: 43).

The development process of e-banking in India started in the early 1980s when the Reserve Bank of India (RBI) set up two committees to stay abreast of the pace of development in automation of operations in the banking sector. In 2000 the Indian Government enacted the Information Technology Act to grant legal recognition to electronic transactions and other electronic commerce services. Today e-banking in India is still at a nascent stage. Almost all of the operating banks have a websites, but only a few offer transactional e-services (Vasanthakumari & Sheela Rani, 2010: 44p).


Excerpt out of 6 pages


E-Banking: Challenges and Opportunities
The example of India
Zurich University of Applied Sciences
Catalog Number
ISBN (eBook)
File size
416 KB
Schweizer Notensystem - 1 schlechteste, 6 beste Note
india, e-banking
Quote paper
Fabian Hürlimann (Author), 2010, E-Banking: Challenges and Opportunities, Munich, GRIN Verlag, https://www.grin.com/document/168004


  • No comments yet.
Read the ebook
Title: E-Banking: Challenges and Opportunities

Upload papers

Your term paper / thesis:

- Publication as eBook and book
- High royalties for the sales
- Completely free - with ISBN
- It only takes five minutes
- Every paper finds readers

Publish now - it's free