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E-banking: Opportunities and Challenges in India


  • Anushriya Bhargava

    (Pandit deendayal petroleum university , gandhinagar)


The digital age is transforming India and its people at an unprecedented rate and level. Technology is providing ample opportunities to empower more and more individuals each day and hence, to grow endlessly. Not one sector has been left untouched by this technological revolution. The banking industry, which is considered as the backbone of any economy, has for long been governed by traditional ways and means in India. But of late, evidence suggests that e-banking has progressed in various countries, and India is no exception to this. According to one of the reports in 2014, non-cash transactions in India have surpassed 300 billion in number. With the launch of Digital India Program especially, by the P.M of India in July 2015, a propensity to move towards digitalisation at a faster pace, and in an efficient and inclusive manner has been observed among all. Provision of e-services to all in the country through improved online infrastructure and internet penetration and connectivity lies at the heart of this Campaign.Moreover, recently it appears that demonetisation has provided the greatest impetus to cashless transactions across all sectors in the country, including in the banking industry. Reportedly, e-banking has almost become a buzzword after this move and awareness about e-banking services and its usage have significantly increased in both rural and urban areas. In the given scenario, this paper aims to briefly trace the evolution of e-banking in India, its current status, and future opportunities and challenges, in the wake of Digital India and demonetisation, particularly.

Suggested Citation

  • Anushriya Bhargava, 2017. "E-banking: Opportunities and Challenges in India," Proceedings of International Academic Conferences 4607593, International Institute of Social and Economic Sciences.
  • Handle: RePEc:sek:iacpro:4607593

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    E-Banking; India; Opportunities; Challenges; Digitalisation;
    All these keywords.

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