Emerging Trends and Innovations in Modern Management 409 E-Banking Frauds and RBI Guidelines Sarala. M S Dr. Kundan Basavaraj Introduction A shift towards digitalization, backed by technological trends and smart system revolutions has brought a paradigm shift in the working of banking sector. The banking institutions which were fundamentally labour based are transforming into an automated ones i.e., traditional banking is transforming into E-banking. Customers are benefitted with ease of banking around the clock. With the advent of E-banking, banking services the dynamics of banking has changed tremendously. It has enabled the penetration of banking deep inside the corners of the country. Banks which were geographically have become accessible to everyone and at any time. Revolution in IT has led to ease of doing banking around the clock. Banking which use to happen only in branches can now happen anywhere at any time through any mode like ATM’s, smart phones, personal computers which the customer chooses. However, customers are confronted with much chaos as e-banking frauds are on the rise. They are not only rising in volume but posing in different dimensions. E-banking frauds are serious issue to be addressed at the earliest. This has to be done both at the macro level by the Government, RBI and at the micro level by the individual banks. Assistant Professor, Department of Commerce and Management, GFGC, Rajajinagar, Bengaluru, Karnataka, India. Associate Professor, Head of the Department, Department of Commerce and Management, Sahyadri Commerce and Management College, Shivamogga, Karnataka, India. The chapter is based on the paper presented in "National Conference on Emerging Trends and Scope in Digital Banking, Cashless Economy & Innovations in Commerce and Modern Management & International Seminar on Global Economy: Opportunities and Challenges" Organized by Inspira Research Association (IRA), Jaipur & Shri Bhawani Niketan Girls P.G. College, Jaipur, Rajasthan, India. 29-30 September, 2018. 55
E-Banking Frauds and RBI Guidelines
Jul 06, 2023
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