1. Internet Banking in India
  2. Strength
  3. Weakness
  4. Opportunities
  5. Threats
  6. Modern Lives Is Influenced by Internet Banking

Internet Banking in India

The depository financial institution of India accepted a unit on web Banking. The cluster divided the web banking merchandise between India into three sorts supported the degree.

Information solely System: General purpose data like interest rates, branch location, bank merchandise, and their options, loan, and deposit calculations are provided within the bank’s website. There exist facilities for downloading numerous varieties of applications forms. Communication is often done through e-mail. There’s no interaction between the client and the bank’s application system. No identification of the client is finished. During this system, there’s no risk of any unauthorized person stepping into the production systems of the bank through the web.

Electronic data Transfer System: The system provides customer-specific data within the kind of account balances, dealing details, and statement of accounts. The data continues to be for most of the ‘read only’ format. Identification and authentication of the client are thru countersign.  Absolutely Electronic Transactional System: this technique permits bi-directional capabilities. Transactions are often submitted by the client for the online update. This technique needs high security and management. During this setting, internet servers and application systems are joined over secure infrastructure. It contains technology covering automation, networking and security, inter-bank payment entree, and legal infrastructure.


  • Aggression towards the development of the present standards of banks anyplace robust regulative impact by a financial institution to all or any the bank’s
  • Presence of intellectual capital to face the amendment in implementation with the sensible quality
  • Processed and techno-savvy
  • Someone will access his account from anyplace he’s a person will do banking transactions like funds transfer to any account, book price ticket, bill pay at any time of the day


  • High bank service charges. All the bank charges extremely to the purchasers for the services provided through web banking
  • Poor technology infrastructure
  • Ineffective risk measures
  • Easy accessibility of web banking account by wrong folks through email ids
  • Once the server is down the full method is disabled


  • Experience Increasing risk management experience
  • Advancement of technologies, robust plus base would facilitate in larger growth
  • Safety of victimization web banking is powerful, therefore additional web banking users in future
  • The international scope of web banking provides new growth views and web business may be a catalyst for brand spanking new technologies and new business processes


  • Folks Banks provides all services through electronic processed machines and this creates issues to the less educated folks needs the Inability to satisfy the extra capital needs
  • Large investment in technologies
  • Web banking are going to be replaced by mobile banking

Modern Lives Is Influenced by Internet Banking

  • Simple to Set-up web banking permits to simply establish your online accounts with solely previous checking account data. You’ll be able to use your pc or perhaps sensible phones for making your online accounts. Once it’s done, you’ll be able to simply access your account and transfer cash for your idolized ones from any place and at any time.
  • Secure online banking permits you to conduct your bank transactions safely and firmly. You’ll be able to monitor and keep track of all of your money transactions and ensure your balance data is correct. Because the technology is evolving, consultants are developing a new concept that can fully replace passwords with thumb impressions whereas victimization web banking services. This offers additional correct and secure transactions and so, will assist you in sleuthing dishonourable transactions simply.
  • Convenience web banking offers you a platform for paying your electrical bills, phone bills, and transfer funds. Creating transactions right from your doorstep or offices is simple with single payments or continual payments. Keeping track of your accounts is less complicated and additionally, you are doing not have to be compelled to keep the receipts of all the bills as you’ll be able to simply read your transactions.
  • Services web banking acts as an excellent medium for the banks to endorse their merchandise and services. These services embrace money coming up with, investment choices, loan calculators, and lots of others as easy applications on the bank’s website of these services are on the market 24/7 i.e., you’ll be able to avail these services at anytime, anyplace, and even once the banks are closed. Some services additionally provide options like balance alerts, so that you’ll be able to monitor your account and avoid late fees. They additionally offer easy accessibility for online statements.
  • Cost-efficient For the bankers, the Internet banking facility is cost-efficient. Body and paper connected works that occupy not solely workplace areas however additionally create job opportunities are blocked with the introduction of web banking. Although it’s clad to be a disadvantage for workers, it’s nonetheless benefited the banks. Moreover, banks will simply promote their services to n variety of shoppers at an equivalent time.
  • Quick and economical Through web banking, fund transfer for each national and international has become quicker and convenient. These factors have created online banking ideal for all people who build a variety of economic transactions daily