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ÄFactors like demands on time, changing human
resource and information technology are
forcing banks to provide services to their
business customers anytime, anywhere,
anyhow in what is termed as º


 
Ä clectronic Banking in simple terms means, it
does not involve any physical exchange of
money, but it͛s all done electronically, from
one account to another, using the Internet.
Ä ¢he three broad facilities that e-banking offers are:
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- Complete your banking at your
convenience, at your home or at any place where
you can access the Net.
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& - ¢here are no more long queues at an
internet bank.
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ʹ online banking is available 24 hours
a day and 7 days a week.
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Ä In India Internet Banking is still in a state of
development.
Ä Majority of the banks having there own
websites provide basic services like the
company information. Very few of them
provide services like online funds transfer,
online transactions etc.
Ä Foreign & Private banks are much advanced
in terms of the number of sites & their level of
development.
Ģhe four major banks which offer Internet
banking facilities in a significant way are ICICI
Bank, HDFC Bank, Citibank and Global ¢rust Bank.

Ä Banks like U¢I Bank, IndusInd, SBI also offer

net banking facilities in a limited way.

Ä ¢he current base of online banking customers

has been estimated at 4.2 Lacs.
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https://netbanking.hdfcbank.com/ne
tbanking/
Ä ¢his site provides anywhere,
anytime, online access to accounts for
the HDFC bank customers.
Ä It is providing access to banking
services for accounts in over 11,000
branches across India.
Ä HDFC has the options of retail
banking and corporate banking.
 

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Ä ¢he 
 0 application is an
integration of several functional areas, and
enables customers to:
· Issue Demand Drafts online
· ¢ransfer funds to own and third party
accounts
· Generate account statements
· Use ePay for automatic bill payments
· Avail DcMA¢ and IPO services
 

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Ä Corporate Banking has the following
functions:
· Manage users, define rights and transaction
rules on corporate accounts
· Access accounts in several branches with a
single sign-on mechanism
· Authorize, modify, reschedule and cancel
transactions
· cnquire on transaction details or current
balance
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ÄApart from Retail and Corporate Banking HDFC

offers Other facilities like:

·c -1 - A simple and convenient service for

receiving and paying your bills online which
means there are no more late payments, no more
queues and no more hassles of depositing
cheques. You can pay your bills through .

- 2Using HDFC e-PAY you can 'see and pay' your

various bills online) or  - 2You can also set
up Auto Pay instructions with an upper limit to
ensure that your bills are paid automatically
whenever they are due).
·¢he other facility is /  "!
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which enables you to transfer funds within your
accounts in the same branch or other branches.
¢o make a funds transfer, you should be an active
Internet Banking user with transaction rights
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Ä In a survey conducted by the Online Banking
Association, member institutions rated
security as the most important issue of online
banking. ¢here is a dual requirement to
protect customers' privacy and protect against
fraud.

Ä ¢his can be done through various ways like:

· 3
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You can set
your display name, mobile number and email ID in
your personal profile

· +
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 You can set limits for demand
draft and third party transfers, in the profile
section. It is advisable to set a lower limit. You can
enhance the limit as and when required
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ÄConsumers can use their computers and a

telephone modem to dial in from home or any
site where they have access to a computer.
Ä ¢he services are available seven days a week,
24 hours a day.
Ä¢ransactions are executed and confirmed
quickly.
Ä¢he interface is very user-friendly.
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Ä Firstly you need and an account with an
Internet Service Provider (ISP)
Ä When dealing with computers, there is
always the concern of the system crashing,
viruses entering the system or a power cut.
¢hese are larger problems and are not as
easily solved. In all three cases, many people
would be affected, information may be lost
and a back-up plan would have to be initiated.
Ä Some errors in Online Banking are inevitable.
i.e.: An interrupted online session; late arrival
of payments etc. A mistake made by either the
user or the bank in question, can affect both,
causing problems
ÄLike anything that deals with the transfer of
large amounts of money, 
  is a major
factor of Online Banking. It is taken very
seriously during Online Banking procedures.
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