Advantages And Disadvantages Of E Banking

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There are various issues relating to e-banking in India. With the advent of information technology also issues and challenges are come. The e-banking also has both advantage and disadvantage. At one sides it provides great benefits to the people and other sides it also contains issues relating to it. The security issue is one of the main issues of e-banking in India. The security issues are arises on account of unauthorized access to banks important information of customers account, risk management system etc. Through hacking also ones banking details can be out which causes loss of data, theft or tampering with the consumers information, disabling of a significant portion of banks internal computer system thus denying services. In external…show more content…
The people become scared of doing online transactions now days. The attachment of banking with information technology gives benefits to the people but on the other side it also has certain problem related to it. The technological advancement gives also some people to open the door for criminal activity also. The rising rate of cybercrime also makes the people to not trusting in internet banking activity. Earlier through internet banking only banking statements are introduced to the people but after that the money transaction is also done by the e-banking. Today even sitting in home one can pay bills, doing shopping and an all other services. But the risk of losing the information and money is also there. The risks which are associated with e-banking are given…show more content…
Earlier the banks which haven’t a website communicate through the e-mail addresses and that communication is limited to those branches which has the internet facility and access of e-mail account. Today also many of the Indian banks are in the first stages of providing the internet facility. With the advancement of technology the banks includes websites which gives the general information relating to the bank, its location and available services etc. it can be called as marketing and advertisement of the banking facilities. Some of the bank provides the internet facilities like customer care services and giving feedbacks of the mails etc. Such services includes request for opening accounts, requisition for cheuqe books, stop payments of cheuqe, viewing and printing statement of accounts, movement of funds between accounts within the same bank etc. Above all these e-banking in India provide a huge facilities for the people in India. And it became the convenient method of doing online banking transactions. But the security issues relating to e-banking in India are there the Reserve Bank of India has issued some guidelines relating to security issue of e-banking in India. Although the Internet Banking guidelines are not sufficient in to provide proper and required cyber security procedures which means that e-banking security risks in India are high even RBI acknowledge the risks of

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