ONLINE BANKING IN INDIA - ADVANTAGES & DISADVANTAGES

In the Indian banking sector banks has adopted new technologies. Banks provides various types of facilities to the customers to reduce paper cost that why banking has adopted paperless banking system and provide fast services to the customers using online baking.Onlinebanking is an outgrowth of PC banking. Internet banking uses the Internet as the delivery channel by which to conduct banking activity, for example, transferring funds, paying bills, viewing checking and savings account balances, paying mortgages, and purchasing financial instruments and certificates of deposit. Online Banking gives a large of advantages to the customers i.e. satisfaction, less time, fast transaction, transactions anywhere and anytime. This research papers discussed the online banking systems in India, process of online banking, advantages and disadvantages of online banking. In the age of globalization the Indian Banking plays a very important role in development of India's economy. In Electronic Banking, Online Banking, modern Banking includes all monetary and non-monetary transactions by using electronic systems. In modern economics banking has very important place in India. Banking provides a large of facilities to the customers and fulfils customer's needs. The banking system has capacity to add the total supply of money by means credit creations. Internet Banking refers to the banking services provided by the banks over the internet. Some of these services include paying of bills,funds transfer, viewing account statement, etc. Banks also deliver their latest products and services over the internet. Internet banking is performed through a computer system or similar devices that can connect to the banking site via the internet. Nowadays, you can also use internet banking on your mobile phones using a Wi-Fi or 3G connection. With the ease of availability of cyber cafes in the cities, it has become quite popular. The Indian banking can be broadly categorized into nationalized (government owned), private banks and specialized banking institutions.The Reserve Bank of India acts a centralized body monitoring any discrepancies and shortcoming in the system. Since, the nationalization of banks in 1969, the public sector banks or the nationalized banks have acquired a place of prominence and has since then seen tremendous progress. The need to become highly customer focused has forced the slow-moving public sector banks to adopt a fast track approach.The Indian banking sector has emerged as one of the strongest drivers to India's economic growth. The Indian banking industry has made an outstanding advancement in last few years. India's economic development and financial sector liberalization has led to a transformation of the Indian banking sector over the past few dedicates. The Indian banking sector has undergone significant developments and investments in past recent. Most of the banks provide a lot of facilities to the customers, viz. Mobile Banking, SMS Banking Master Card facility and ATM. In recent trends E-Banking is becoming increasingly popular