E-Banking System: Pecular Features challenges and opportunities

This paper focuses on the features, challenges, and opportunities of e-banking. A nation's banking industry has a significant impact on its economic growth. An economy's greatest resource is banking. A powerful and capital is defined system is a crucial prerequisite for economic expansion. The banking sector in India is currently undergoing an IT revolution. Banking institutions have become more modern as a result of the adoption of the internet. Both banks and consumers have profited from it. Thanks to innovation and technology, e-banking in India has undergone several changes. Among the many innovations that occurred in the banking industry were the introduction of the card, the Electronic Clearing Service, the Electronic Funds Transfer, and the concepts of online and mobile banking. The bank hopes to introduce the fundamental idea of IT-based Enabled Services through E-Banking. It was completely distinct from the conventional banking system at the same time. Debit and credit cards are more convenient for people. The growing number of people using the internet is one of the factors contributing to the growth of e-banking in India. Because electronic banking has so many benefits, people prefer to use it these days. However, it has also raised certain problems and difficulties related to cybercrime, such as credit card fraud, phishing, and data theft. Therefore, an attempt has been made in this paper to provide an overview of e-banking in India as well as the different problems and difficulties that the banking industry faces.