Exploring The Potential Of Online Banking: An Insight Into Innovations And Barriers In The Indian Context

Abstract

With the advent of today’s digital innovations, customers of banks and other financial institutions can perform a range of financial activities on the bank's website through Internet banking, also known as e-banking or virtual banking. This is because online banking often links to or is a component of the bank's primary banking system, as opposed to traditional branch banking, which is either linked to or apart from the main banking system. In India's banking industry, innovation and technology received more attention in the 1990s. Banks started utilizing technology to deliver higher-quality services more quickly. One of the technologies that people use the most frequently these days is Internet banking, which has a big impact on people's daily lives. Customers can now bank from anywhere thanks to the conveniences of mobile and Internet banking. stated. Additionally, banks have shifted their attention to serving local markets and offering a unique range of services. requirements and desires of local customers. In India, the Internet is becoming more and more popular. The landscape of online banking is evolving. It affects business partnerships the most and is especially common in the banking industry.. In terms of financial goods, services, and online banking. These days, a lot of banks offer ATMs with websites all around the globe. Internet banking, customer service, and so forth. The banking industry has been greatly impacted by information technology advancements.