RISK ELEMENTS AND SECURITY CONCERNS IN BUILT-IN ONLINE BANKING IN ANDAMAN & NICOBAR ISLANDS

The use of the internet as a remote delivery channel for banking services such as creating a deposit account or moving money between accounts is referred to as Internet banking. Online banking enables users to perform financial transactions over the internet. Online banking is a type of financial transaction that takes place over the internet. Customers can access almost every service that was previously only available at the local branch, including deposits, transfers, and online bill payments, through online banking. Now, mostly all banking institutions offer some type of online banking, which is available across both desktop and mobile platforms. During the early years of online banking, to connect to the banking system by phone, a terminal, keyboard, and TV (or monitor) were used. In 1981, four of one of the city's main banks (Citibank, Chase Manhattan, Chemical, and Manufacturers Hanover) began offering personal banking services in New York using the videotext system. Stanford Federal Credit Union was the first to offer online internet banking to all of its members. To use of the internet for banking services such as creating a deposit account or moving money between accounts is referred to as internet banking. A customer may now deposit a check into a savings or checking account by photographing it with his phone and receive SMS banking notifications in the form of text messages. The origins of online banking may be traced back to the 1980s, when the definition and practice of internet banking were significantly different from what they are now