E-banking: Services, Importance in Business, Advantages, Challenges and Adoption in India

E-banking refers to electronic banking. It is like ebusiness in banking industry. E-banking is also called as Virtual Banking or Online Banking. E-banking is a result of the growing expectations of bank's customers. E-banking involves information technology based banking. Under this I.T system, the banking services are delivered by way of a Computer-Controlled System. This bank's system does involve direct interface with the customers. The customers do not have to visit the premises. In India E-banking is of fairly recent origin. The traditional model for banking has been through branch banking. Only in the early 1990s there has been start of non-branch banking services. The good old manual systems on which Indian banking depended upon for centuries seem to have no place today.