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The world is changing rapidly due to some factors. Technology is one of them. It is an inevitable part of our life. The importance of technologies is growing fast in our day to day life. It impacts our life bringing down the sufferings. Use of internet in the banking is a common matter now-a-days. Though some people use internet banking while others are reluctant to use it fearing some unavoidable circumstances.

The reasons of using internet facilities in the banking sector:
People use internet banking or e-banking due to it's vast amenities. Now-a-days, people do not like conventional banking as technology makes banking easier, faster and comfortable. People can pay utility bills, transfer money or receive money, see bank statement without going to the branch. Money is available for 24 hours at the ATM booth. So why do people use traditional banking? Mobile banking, other crucial factors of modern internet banking, brings about revolutionary changes in the nature of banking world. No cheque or other banking document is needed here. Just some few mobile digits can help doing banking without bank. Huge number of rich and marginal people uses mobile banking which is reflected in recent studies conducted by the BIBM. That's why many people use modern banking.

The reasons of not using internet facilities in the banking:

The main reason of not using e-banking is the lack of knowledge of technologies. As about 40% of people of our country are illiterate, so they do not know how to operate e-banking. Besides, all 58 scheduled banks do not provide electronic banking to all of their branches. Some of the renowned bank's branches do not accept online cheque while withdrawing money. These branches do not offer internet banking. So how will people get internet facilities?

Moreover, people who are disinclined to practice e-banking fear lest they should lose their principal. They show security causes. Showing this cause, they practice traditional banking. But sometimes their fears come true. Big scams in the banking make them worry.

In fine, we can say that internet banking is a way of life. As it is a secured system of banking, no one should evade it as it reduces time and saves energy.

 

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Related Questions

Read the following passage carefully and answer the questions given below.The Italian banking system became the model for those North European nations that would achieve the greatest commercial success in the coming centuries, notably the Dutch, the English, and the Swedes. It was in Amsterdam, London and Stockholm that the next decisive wave of financial or innovation occurred, as the forerunners of modern central banks made their first appearance. The seventeenth century saw the foundation of three distinctly novel institutions that, in their differen in ways, were intended to serve a public as well as a private financial function. The Amsterdam Exchange Bank, i.e. the Wisselbank, was set up in 1609 to resolve the practical problems created for merchants by the circulation of multiple currencies in the United Provinces, where there were no fewer than fourteen different mints and copious quantities of foreign coins. By allowing merchants to set up accounts denominated in a standardized currency, the Exchange Bank pioneered the system of cheques and direct debits or transfers that we take for granted today. This allowed more and more commercial transactions to take place without the need for the sums involved to materialize in actual coins. Financial historians disagree as to how far the growth of banking after the seventeenth century can be credited with the acceleration of economic growth that began in Britain in the late eighteenth 20 5 century and then spread to Western Europe, North America and Australasia. But banks played a more important role in continental European industrialization than they did in England's.a) Where did the precursors of modern central banks make their first appearance? b) What practical problem was the Wisselbank required to resolve in its initial days?c) How did the Amsterdam Exchange Bank respond to the demand of the age? d) What are the points of disagreement among the financial historians with respect to growth of banking vis-a-vis growth of economy? e) Choose a suitable title for above composition.
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The number of people using internet on their mobile phones in Bangladesh crossed the 10-crore mark in September 2020 as customers shift towards the digital sphere to carry out tasks made further gains owing to the corona virus pandemic. The number of internet users rose 13 percent year-on- year to 11.11 crore in September. It was 9.84 crore in the same month last year. Now, 10.25 crore. subscribers use internet on their handheld devices and the rest rely on the services provided by internet service providers and public-switched telephone network operators. In another milestone. mobile phone subscribers grew 2.26 percent year-on-year to 16.71 crore in September to reach an all-time high. The number of active mobile phone users stood at 16.34 crore in the same month last year. (বাংলায় অনুবাদ করুন)
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