In recent time E-banking has spread rapidly all over the globe. All Banks are making greater use of E-banking facilities to provide batter service and to excel in competition. The spread of E-banking has also greatly benefited the ordinary customer in general and corporate world in particular. The following points summarize benefits of E-Banking.

Benefits to Consumers:

General consumers have been significantly affected in a positive manner by E-banking. Many of the ordinary tasks have now been fully automated resulting in greater ease and comfort.
• Customer’s account is extremely accesses able with an online account.
• Customer can withdraw can at any time through ATMs that are now widely available throughout the country.
• Beside withdrawing cash customers can also have mini banks statements, balance inquiry at these ATMs
• Through Internet Banking customer can operate his account while sitting in his office or home. There is no need to go to the bank in person for such matter.
• E banking has also greatly helped in payment of utility bill. Now there is no need to stand in long queues outside banks for his purpose.
• All services that are usually available from the local bank can be found on a single website.
• The Growth of credit card usage also owes greatly to E-banking. Now a customer can shop world wide without any need of carrying paper money with him.
• Banks are available 24 hours a day, seven days a week and they are only a mouse click away.

Benefits to Banking Industry:

Banking industry has also received numerous benefits due to growth of E-Banking infrastructure. There are highlighted below:
• The growth of E-banking has greatly helped the banks in controlling their over heads and operating cost
• Many repetitive and tedious tasks have now been fully automated resulting in greater efficiency, better time usage and enhanced control.
• The rise of E-banking has made banks more competitive. It has also led to expansion of the banking industry, opening of new avenues for banking operations.
• Electronic banking has greatly helped the banking industry to reduce paper work, thus helping them to move the paper less environment.
• Electronic banking has also helped bank in proper documentation of their records and transactions.
• The reach and delivery capabilities of computer networks, such as the Internet, are far better than any branch network.

Benefits to General Economy:

Electronic Banking as already stated has greatly serviced both the general public and the banking industry. This has resulted in creation of a better enabling environment that supports growth, productivity and prosperity. Besides many tangible benefit in form of reduction if cost, reduced delivery time, increased efficiency, reduced wastage, e-banking electronically controlled and thoroughly monitored environment discourage many illegal and illegitimate practices associated with banking industry like money laundering, frauds and embezzlements. Further E-banking has helped banks in better monitoring of their customer base. This it is a useful tool in the hand of the bank to device suitable commercial packages that are in conformity with customer needs. As e banking provide opportunity to banking sector to enlarge their customer base, a consequence to increase the of volume of credit creation which results in better economic condition, Besides all this E-banking has also helped in documentation of the economic activity of the masses.