E- BANKING : IN TODAY'S BUSINESS AND ONLINE TRANSACTION ENVIRONMENT

Financial sector plays an important role in the economic development of a country. A strong and healthy banking system is an important requirement for economic growth.  Indian banking industry today is observing an IT revolution. A combination of regulatory and competitive reasons has led to increasing importance of total banking automation in the Indian Banking Industry. Information Technology has basically been used under two different avenues in Banking. One is Communication and Connectivity and other is Business Process Reengineering.  The shift towards internet banking is fuelled by the changing dynamics in India. DEMONETISATION has also played a major role in increasing the reach of online banking. By 2020 the average age of India will be 29 years and this young consumer base is internet savvy and wants real time online information. Indian banks therefore need to aspire high and move toward implementing a world class internet banking capability. The objective of the project is to examine and analyze the progress made by Internet Banking in India. The study is primary based and analytical in nature