KALYAN CITY LIFE

Sharing Wisdom and Vivid Memories of Life

About

Kalyan City is a fast emerging residential township in the Thane district of Maharashtra state, India. It is a central suburban town and resides 54 kms north-east of Mumbai. This blog regularly shares quality academic materials. Here we also document our unique experiences and vivid memories of life. Read our lucid informative articles to excel your understanding, knowledge and success.

Team

Articles published on Kalyan City Life blog are inspired from our work experience, field research, study of various good books and papers, seminars and consultations from subject scholars. Our unique collection of useful study notes is an outcome of a team effort and hard work of Gaurav Akrani, Prof. Mudit Katyani and Manoj Patil.

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E-Banking - Online Banking - Advantages of the Ebanking




red square What is E-Banking ? Online Banking ↓



E-banking refers to electronic banking. It is like e-business 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 online banking advantages

Image Credits © Jochem Koole.


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 system does involve direct interface with the customers. The customers do not have to visit the bank's premises.



red square Popular services covered under E-Banking ↓



The popular services covered under E-banking include :-

  1. Automated Teller Machines,
  2. Credit Cards,
  3. Debit Cards,
  4. Smart Cards,
  5. Electronic Funds Transfer (EFT) System,
  6. Cheques Truncation Payment System,
  7. Mobile Banking,
  8. Internet Banking,
  9. Telephone Banking, etc.



red square Advantages of E-Banking ↓



The main advantages of E-banking are :-

  1. The operating cost per unit services is lower for the banks.
  2. It offers convenience to customers as they are not required to go to the bank's premises.
  3. There is very low incidence of errors.
  4. The customer can obtain funds at any time from ATM machines.
  5. The credit cards and debit cards enables the Customers to obtain discounts from retail outlets.
  6. The customer can easily transfer the funds from one place to another place electronically.





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