Question

Explain the importance of E-banking.

Answer 1

1. E-banking provides services 24 hours a day, 365 days a year, allowing customers to access banking anytime.
2. It lowers transaction costs, making banking more affordable.
3. E-banking develops financial discipline and promotes transparency in transactions.
4. It reduces the load on physical bank branches by enabling online transactions.
5. Customers can manage their accounts from anywhere using electronic devices like computers or mobile phones.
6. It offers convenience and efficiency in banking operations like checking accounts, loan applications, and bill payments.