E Transactions: Implementation Realities

E Transactions have been existing for the past several years but it is for the recent past that they have taken a big acceptance in especially in the urban areas.

People prefer doing the e transactions through NEFT which considered to be secured and easier , hassle free.

What is an E Transaction?

E Transactions are NEFT transactions which are done over the web to transfer funds or pay credit card bills from one account to any other account.

Which banks are rated on top?

Customers of HDFC Bank are considered to be the most net savvy in doing e transactions as per the latest fgures released by RBI.
SBI is the second bank and ICICI Bank is in the third place for e transactions.
Citibank is in the fourth place and Axis Bank is in the fifth place.

What other countries are doing?

In the US and other countries,e Transactions are quite higher then those in India.Banks save a huge amount of money if the customer does not come to their branch and instead does transactions over the net.

Internet Users in India:

India has one of the highest number of Internet users in the world and it is high time that e transactions should take their way in the semi urban and rural areas where a kiosk or a special terminal can be used to do these transactions.

Going by the way the world is moving towards online technologies in every medium, e transactions will soon be a common thing and not something special like we currently have mobile phone usage in India.