EMERGENCE & GROWTH OF E-BANKING IN INDIA: A COMPREHENSIVE OVERVIEW

Abstract

E-banking, sometimes referred to as digital banking, internet banking, or online banking, is a system that makes it possible to conduct financial activities online, such as money transfers, loan and EMI payments, cash deposits, and cash withdrawals. In today's world, e-banking makes a significant impact to economic growth, especially in emerging nations like India. The focus of banks has changed from conventional banking to the digital banking system. In order to provide their clients with higher-quality services, banks are implementing a variety of strategies and electronic channels. A variety of e-banking methods, including ATMs, debit/credit cards, e-wallets, USSD, NEFT, RTGS, IMPS, UPI etc. are available to quickly and efficiently perform financial transactions. The Indian government has implemented a number of successful measures to encourage electronic banking. The RBI has also established goals to increase the usage of e-banking and cashless transactions in society. The goal of the current study is to examine the development and trend of e-banking methods, particularly with regard to the financial year 2017-2018 to 2021-2022. This study's research method made use of secondary data from online databases of books, academic papers, and relevant articles about e-banking.