Internet Banking in India: Challenges and Opportunities

Abstract

Banking activities have been into existence since 18th century BC. The main purpose that banks have been serving since their inception is keeping our money safe for us. Traditional banks have been doing this, and internet banks continue the same function. The only difference is in the way the transactions are made. The Internet is rapidly turning out to be a tool of worldwide communication. The increasing use of Internet earlier promoted producers and entrepreneurs to sell their products online. It has also become an important source of information and knowledge. Due to this, many banking and finance organizations have come up with the idea of Internet banking or online banking. In this paper we have tried to study the Nature, challenges & opportunities of Internet Banking in India.

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