E-Banking and Development of Banks
Synopsis
Banking today has become more complex with different products and services which seems from reliance on automation and technological change which has shaped it from a manual-intensive industry into one highly automated and technology dependent. The process of doing banking functions deploying Information Technology is a definition of 'Electronic Banking'. The scope and reach of electronic banking, e.g., E-Banking has undergone a complete revolution. This now includes the whole gamut of automation that is seen not only in the bank branches/offices, but also a plethora of delivery channels are made available. The following 'Electronic Banking' mechanisms that exist or are being designed are--Automated Teller Machines (ATM); Direct Deposits; Pay-by-Phone; PC Banking or Home Banking; Credit Cards; Point-of-Sale Transfers/Debit Cards; Stored Value Cards or Smart Cars; Electronic Data Interchange (EDI); Electronic or Digital Cash; Direct Credits; Electronic Fund Transfers; and Real Time, Gross Settlement System.
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Bibliographic information
S.B. Verma
M K Sharma