ELECTRONIC BANKING

ELECTRONIC BANKING

With the introduction of computers in Indian banks and with the advent of ATMs, the
banking services are provided across the banks. Customers need not necessarily visit the branch to do banking transactions, when the banks provide them with tele-banking or remote-banking facility. This type of banking is called electronic banking.

Any where banking and ATMs

  • It empower the customer to operate his account at any of the branches of a bank at one city and with the help of inter-city communication linkage, it can be used across different cities.
  • ATMs have made it more convenient for the customer to transact business from nearest ATM.

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TeleBanking

  • Digitization of voice has enabled the introduction of this technology.
  • Facilities offered through telephone banking include a range of services such as balance enquiries, enquiries about credits/debits, transfer of funds, request for statements.
  • Banks are also offering services such as account opening, ordering for demand drafts.

Cash management

  • Some banks including SBI, Corporation Bank introduced cash management products (CMP) for corporates to improve the quality of their services.
  • CMP technology involves pooling up the collection details of cheques deposited by the corporate at upcountry centres to a central place and offering credit in their account either on the same day or next day.

National Payments Corporation of India (NPCI) :

National Payments Corporation of India is the umbrella organisation for all retail payment systems in India, which aims to allow all Indian citizens to have unrestricted access to e-payment services. Rupay is a domestic card scheme of NPCI.

RuPay: RuPay, a new card payment scheme launched by the National Payments Corporation of India (NPC1), has been conceived to fulfill RBI’s vision to offer a domestic, open-loop, multilateral system which will allow all Indian banks and financial institutions in India to participate in electronic payments.

E-commerce

Ecommerce is a term for any type of business, or commercial transaction, that involves the transfer of information across the Internet. It covers a range of different types of businesses, from consumer based retail sites, through auction or music sites, to business exchanges trading goods and services between corporations. It is currently one of the most important aspects of the Internet to emerge.

Business to Business or B2B refers to electronic commerce between businesses rather than between a business and a consumer.  E-commerce translates your otherwise intangible benefits. Other exciting developments springing from ecommerce include a higher degree of personalisation, round-the-clock advantage, fast and flexible execution,
immediate customer reaction, and reduction in operating cost.

MICROFICHE

Microfiche is a thin photographic film, usually four by five inches, which is capable of storing information in miniaturized form. This technique is used in preserving fragile materials such as archival documents, journals, books, newspapers and magazines, as well as a method of saving space in libraries and other archives.


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