Overview on E – Banking In Indian Jurisdiction
Volume III, Issue III, 2020
Evolution of Internet is one of the biggest benefits which human mankind can ever have. This evolution has changed the whole game play in the market. People have access to every place, person, market etc. With growth of the internet the commercial work started through internet. These commercial works are termed as E – Commerce. It includes many activities like, shopping, online taxi booking, supply chain management, automation, food delivery, electronic payments etc. The development of E-commerce, has made easiness for both buyer and seller as seller can reach to the any part of the globe and buyer has unlimited choices to access any seller. E – Banking sector has developed with the globalization of the country. With the introduction to the E – Commerce it was important to for the banking sector to develop its function for the easement of for both buyer and seller. Banking sector in India has amended many changes with the time which is helpful to its customer but it has also given scope to bank fraud. Issues with E – Banking have also as increased as there is no strong law to protect the IT sector of Banking regulation
Keywords: Banking, Electronic Banking, Reserve Bank of India, Banking Challenges, Legal Framework.