Question

I will mark u as branlist. .........
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I need information on revolution of online banking. ..plz it's argent. .​

Answer 1

Answer:

Just to put the growth in perspective, the RBI (Reserve Bank of India) reported that from 2011 to 2016, the mobile banking sector in India grew from Rs. 25 million to almost Rs. 400 million, while online banking went from Rs. 512 million to over Rs. 3 billion. By 2017, there were well over 2 lakh ATMs and just over 25 lakh POS devices operational. And this is increasing every day!

Explanation:

This supercharged growth has been fueled by us. Once we saw the ease of doing things on our smartphones, we wanted everything to be easily accessible, instantaneous and hassle-free. There’s no more standing in queues, running to the ATM to get some cash out and many of us don’t even visit the bank any more, except in special circumstances like a change in currency notes.

And it’s not just transactions that have changed, but also the fundamental way we think of and manage our finances, like borrowing, lending and making payments. Most financial services don’t even require physical documentation anymore. There are even apps for loans that operate completely digitally, which are redefining the way we manage our credit.

Here are 6 ways that digitization and online banking are revolutionizing our world as we know it:

Perpetual