Name: Gursimran Kaur
Country: India

Year: 2021
Volume: Volume-8, Issue-1 (January-June)
Page Number: 21-24

Abstract
The information technology has revolutionized various aspects of our life. The world at large is
rapidly entering into the „Net Age.‟ The internet or simply „Net‟ is an inter connection of computer
communication networks covering on the whole world. The growth and expansion of Internet and
Information technology have facilitated the emergence of E-commerce. Internet banking or E-banking
has attracted the attention of banks, securities, insurance companies in developing nations since the
late 1990‟s and the rapid and significant growth in electronic sectors and commerce it‟s obvious that
electronic (online internet) banking and payments are likely to advance or rapidly increased. The
major idea is to provide services to the customer through the internet and make the customer feel
flexible in calling out simple tasks faster instead of making visits to bank frequently. The principal
type of banking services include automated teller machines (ATM‟s), shared ATM networks,
electronic funds transfer at point of sale, smart cards, stored value cards phone banking and internet
baking. Thus, practice of baking has undergone a significant transformation due to adoption of Ebanking. The study focuses on highlighting the role of digital banking or E-banking and it‟s role in
banking system. This paper elaborates the role of net banking in banking system and how it proves to
be useful for the customers as well as the banks and also explains the problems faced by the users and
it‟s impact on our economy. The study concludes by explaining the major role of digital banking in
the banking system. The study reveals an observation that access to digital banking and it‟s role in
baking system is the only enabling factor to economic development.
Keywords
Revolution, Significant transformation, Economical impact, Communication networks