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The pace of development of banking sector of India during the last 10 years has been nothing less than spectacular. Historically the banking products and monetary services provided have been limited to the depositing cash and withdrawing cash from bank. This was resulting from the fact that many of the banks have been under the management of the government. They tried to alter the setup with the altering economic environment across the county. Some of the banks even managed to taste some small successes. Nevertheless it was the rise of the Private Banks that brought in sweeping change and launched some competition and selection in the banking services.

The major goal of the private banks was to provide buyer friendly services and products. They offered their customers new and improved services which conventional banks had did not offer. Thus, they succeeded of their mission to draw more customers. For that goal, they have introduced the concept of customization within the banking system. The more vital function had been performed by the Reserve Bank of India, who had been monitoring the whole setup strictly. This idea of computerization was the start of Internet Banking.

Computerization was held necessary for all the banks to enhance their efficiency. The instructions were given by the Reserve Bank in 1990. This resolution was the for Internet Banking and all the technology changes in banking sector. Banks admitted that the introduction of technology was worth lots for the banks and customers as well.

Customer can connect with their banks from residence via internet banking. Indian banks are actually very fast to reply to the customers. All the banks are involved in hiring of skilled professionals to deliver perfection to the technological services. Now it is very simple for the banks to target the retail customers and businesses by way of Web Banking. Banks should pay attention to the changing requirements of the customers of this era.

There are variety of allied services offered by the banks by way of this distinctive service of Internet banking. You possibly can simply pay your dues and might handle your bank account very easily. It is quite simple to see your mini account statement or the transaction record for the whole month. As people uncover the convenience and comfort in it, so they rely on this service. It has made the transactions faster and more secure

The efficiency of Indian banking business has improved with the introduction of Web banking. Indian banks have been able to compete with the international banks. User friendly features and improvements means that the customers have started to depend on this service. Customers are able to pay their utility bills with out having to stand in long lines. Cell services may also be paid through internet banking. Banks have to offer these services with a view to retain their customers. Clients do examine the services provided and especially Internet banking before they open an account with any bank.

aib internet banking