Impact of Online Banking Services

Information Technology has become a necessary tool in today’s organizations. Banks today operate in a highly globalized, liberalized, privatized and a competitive environment. To survive in this environment banks have to use IT Electronic banking has emerged from such an innovative development. Even at present, India is a relative unbanked country as the credit-to-GDP ratio is one of the lowest in the developing economies. So banks are facing the dual challenge of increasing penetration and high growth trajectory. After demonetization, the E-banking becomes an essential component to “improve economic growth” now Bank of India recently implemented cashless withdrawal service. Finally, this study concluded that the bankers should create awareness among their customers related to E-banking services