e bankin generally said as netwrkd individuals ans dirms are more efficient than netwqrkd individuals E banking: banking

done electronically is electronic banking.it is the products and services provided b y banks using electronic media or internet. it is the provision of banking service through electronic channels and customer cn access the data without time and geographic location.Electronic banking, also known as electroni c funds transfer (EFT), is simply the use of electronic means to transfer funds directly from one accoun t to another, rather than by cheque or cash. Range of services provided: electronic funds transfer (EFT) Automated teller machines(ATM) Point of sales(POS) Electronic data interchange (EDI) Credit cards Benefits to bank: competitive advantage unlimited netwrk lesser wrk load MArketing tool' lesser establishment cost lesser chances of fraud and misapropriation better profitaqbility better customer relationshp Benefits of e banking: any time banking ket bukin, prepaid mobile, any whr cash rsonal home page,investment service cash free banking nal update reduction in cost of transaction easy to make utility payments on-line purchase Drawbacks: dificult in adoption of technology fear of technology high cost technology lack of prepardness restrictions on usage of technology security risk E banking nin india: Finland was 1st to start e banking in india in india icici bank startd in 1997 undr brand name infinity Impacts in india: icici's profits to equityholders regesterd a growth of 21% in 2001

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citibanks clamind tat its project suvidha wich startd off in banglore in early 1 998 has attractd customers to interact with electronically using telephones, interne t and atm's The vise president of global trust banks PC narayan says an electronic transaction costs as much as 65% less than physical 1. ATM's have emergd as new business models fr d banks n d way banking has been con ductd. Measures taken by RBI: RBi comitte has cum out wit road map fo e banking and had sot legeslation on eft system to facilitate multiple payment systems for banks and financial institutes RBi has been gearin up to upgrqadin itself as a regulator n supervisior of techno dominated financial system. The RBI constitud wrking grp of internet banking. the grp divided the E banking product in 3 types 1.infomation only system 2.electronic information transformation system. 3.fully electronic transactional system. Initiatives by RBI: the gov of india enactd the IT act, 2000 provides recognition to electronic tran saction and othr means of electronic commerce. Conclusion: the potential of Eb is huge.with the increase in connectivity the no. of users w il xplode says KV kamad ceo icici bank the strategy for bank is to provide value aded services to product n services to product to customers utilizing the internet web based bankin service or E banking has the latest generation of banking trans actiuon has opend up new window of oprtunity to banks and existing financial institution s. since its evolution is 90th decade it is havin unprecedentd growth. the power of persn to persn comunication and word of mouth can nvr b undrstud