ebanking in India

Abstract

Today we live in a technology driven world. Industrial revolution gave birth to giant machines for industrial advancement and information technology has delivered intelligent machines to revolutionize human development. Today we are surrounded by automated smart technology, which has touched almost all spheres of human life, from military to medicine and from education to the election. Electronic banking or e-banking is the fusion of information technology with the banking system. Thus the term electronic banking generically refers to various terms connected with virtual banking and often interchangeably used with the term internet banking. The Rangarajan Committees drew a phased plan for bank computerization in the 1980’s which recommended computerization of banks at various levels. The systematic use of Core Banking Solution (CBS) was another milestone development in the history of ebanking in India.