Awareness Level of Customers on E-Banking

Abstract

E-banking has become a necessary weapon and is fundamentally changing the banking industry worldwide. Today, the mere click of the mouse offers customer banking services at a much lower cost and enable them with unprecedented freedom in choosing vendors for their financial service needs. E banking is the outcome of technological innovations and competitions. Banks are using an electric distribution channel to market their products to wholesale and retail customers. Traditional Branch based retail banking remains the most widely spread method for conducting banking transactions in India as well as in other countries. One of the important bad features of Indian banking is that it has completely ignored the rural and semi-urban areas to spread the concept and services of banking especially e-banking. In India, banks have tried to introduce internet-based e-banking systems to improve their operations and reduce costs. Despite all their efforts to develop better and easier e-banking systems, these systems remained largely unnoticed by the customers and certainly underused despite their availability. No doubt the main drawback in the Indian banking scenario is the lack of awareness about e-banking and lack of will to accept and adopt the changes among the people. Hence, a study is undertaken to measure and analyses the level of awareness of customers’ one-banking products and services. The analysis and result thereof are briefly presented in the article.