Advantages of E- banking:
- A higher degree of personalization
- Round the clock services will be available to the customer for all 7 days a week 24 X 7.
- Fastness and flexibility in the transactions
- Lower operating cost for banks
- Increased speed and accuracy of information exchange
- Bank account can be easily accessed from anywhere and at anytime
- Leads to greater customer satisfaction
Limitations of E-Banking:
- Non availability of internet connection, with high speed bandwidth in the rural areas
- Imparting training to banking staff is a bigger challenge.
- Resistance to paperless transaction by the customer,as they may prefer evidence for their transaction on paper.
- Problems may crop up regarding security and reliability.
- Although the technology is advancing, our legal environment is not in a position to keep pace with the technology.
- High illiteracy rate in india, is a hindrance to e-banking.
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