E-banking and Canara Bank

The banking sector is the lifeline of any modern economy. It is one of the important financial pillars of the financial system, which plays a vital role in the success/failure of an economy. Banks are one of the oldest financial intermediaries in the financial system. They play an important role in the mobilization of deposits and disbursement of credit to various sectors of the economy. The banking system is the fuel injection system which spurs economic efficiency by the mobilizing saving and allocating them to high return investment. Research confirms that countries with a well develop banking system grow faster than those with a weaker one. The banking system reflects the economic health of country. The strength of economy of any country basically hinges on the strength and efficiency of the financial system which in turn depends on a sound and solvent banking system. A sound banking system efficiently deploys mobilized saving in productive sectors and a solvent banking system ensures that the bank is capable of meetings its obligation to the depositors. The banking sector is dominant in India as it accounts for more than one half the assets of the financial sectors.

E-business methods enable company to link their internal and external processes more efficiently & flexibility, work more closely with suppliers and partners to better satisfy the needs and expectations of their customer.

E-business transactions are done by the computers and telecommunication network, without using paper document. Traditionally, its definition has focused on EDI (Electronic Data Interchange) as the primary means of conducting business electronically between entities having a pre-established contractual relationship. More recently, however, the definition has broadened to encompasses business conducted over the internet and included entities not previously known to each other.