A bank is financial institution that conduct financial transaction. The word bank was borrowed from French banque, from old Italian banca, from old high German banc, bank “bench, counter”.Benches were used as desks and exchange counter during the Renaissance by Florentine bankers, who used to make the transaction top desk covering green table cloth.
E-banking refers that any with a pc and a browser can connected to his bank’s website to perform any virtual banking transaction and we can also say that is the process by which customer conduct banking transactions electronically without visting a bank offices. The following all terms refer to E-banking(Electronical baking) i.e.Internet banking, Virtual banking, virtual banking,online banking,home banking,remote electronic banking,phone banking etc. it should be noted, however that the terms used to define the several types of e-banking are oftern used interchangeably. All the services that the bank provided on the internet are displayed in menu. From the menu, user can select any service. Now the bank providing service not only online banking in pc, also sms service has been introduced.
The list of bank providing E-banking and SMS banking service in our country and click the preferred bank to know detailed about their e-bank system:| S/N | Name |
| 1 | Nepal Bank Ltd. |
| 2 | Rastriya Banijya Bank Ltd. |
| 3 | Agriculture Development Bank Ltd. |
| 4 | Nabil Bank Ltd. |
| 5 | Nepal Investment Bank Ltd. |
| 6 | Standard Chartered Bank Nepal Ltd.. |
| 7 | Himalayan Bank Ltd. |
| 8 | Nepal SBI Bank Ltd. |
| 9 | Nepal Bangladesh Bank Ltd. |
| 10 | Everest Bank Ltd. |
| 11 | Bank of Kathmandu Ltd. |
| 12 | Nepal Credit and Commerce Bank Ltd. |
| 13 | Lumbini Bank Ltd. |
| 14 | Nepal Industrial & Commercial Bank Ltd. |
| 15 | Machhapuchhre Bank Ltd. |
| 16 | Kumari Bank Ltd. |
| 17 | Laxmi Bank Ltd. |
| 18 | Siddhartha Bank Ltd. |
| 19 | Global Bank Ltd. |
| 20 | Citizens Bank International Ltd. |
| 21 | Prime Commercial Bank Ltd |
| 22 | Sunrise Bank Ltd. |
| 23 | Bank of Asia Nepal Ltd. |
| 24 | DCBL Bank Ltd. |
| 25 | NMB Bank Ltd. |
| 26 | Kist Bank Ltd. |
| 27 | Janata Bank Nepal Ltd. |
| 28 | Mega Bank Nepal Ltd. |
| 29 | Commerz & Trust Bank Nepal Ltd. |
| 30 | Civil Bank Litd. |
| 31 | Century Commercial Bank Ltd. |
Status of e-Banking:
1. e-Banking channel available in Nepal
ÿ (ATM) Automated Teller Machines
ÿ (PoS) Point of Sales
ÿ (Tele banking)Telephone Banking.
ÿ E-banking (Internet Banking)
ÿ (SMS Banking) Mobile Banking
2. The following are Banks and financial institutions in Nepal
ÿ 1. Commercial Banks – 31
ÿ 2. Development Banks – 87
ÿ 3. Other Financial Institutions – 79
3. In e-banking following services Provided :
a) In ATMs
i. Cash Withdrawal
ii. Balance Inquiry
iii. Fund Transfer is not available.
b) In PoS Terminals
i. Financial transactions are made via Cards.
ii. Cash is debited from the client’s account(s).
iii. Cash cannot be deposited.
c) In Tele-Banking
i. Account Status check
ii. Balance Inquiry
iii. No fund transfer facility.
d) In SMS-Banking
i. Similar to Tele-Banking except telephone
ii. Cell phone is required instead of telephone.
e) In Internet-Banking
i. Fund Transfer within accounts (within the bank)
ii. Get balance statement online
iii. Pay bills online
4. Internet Users and e-Banking Customers:
ÿ In Nepal, there are around 200,000 Internet Users
ÿ Over 95% of Internet Users is being used Dial-up access.
ÿ 3.The users of 50% are inside the capital city, Kathmandu.
ÿ There are around 3000 users using E-Banking
5. Security measures in the Bank side:
a) All banks that are providing internet-banking facility have the following system consist.
ÿ Password controlled system entry.
ÿ For the Bank’s server veriSign issued Digital ID.
ÿ (SSL) Secure Socket Layer protocol for data encryption.
ÿ Set up of Firewall.
6. Requirements for e-Banking (Bank Side)
1. SMS Banking
ÿ A PC with 40GB hard disk, 1 GB RAM, Network Card, Pentium 4 processor, Nokia GSM device
ÿ USB Infrared adaptor
2. Internet-Banking
ÿ A PC with 40GB hard disk, 1 GB RAM, Pentium 4 processor, Network Card
ÿ Software Requirements: Windows 2000 or above, Internet Explorer v5.5 or above
7. Requirements for e-Banking (Client Side):
ÿ In case of SMS Banking, (Mobile phone) a Cell phone that is able of sending SMS.
A PC with Internet Explorer v 5.5 or above having internet connection for Internet-Banking,Future of E-banking:
1. Transaction of cashless:
ÿ Transaction can be done via non-cash elements like credit cards, internet-banking.
ÿ It will be convenient way to transact if there is distance matter.
2. Remote area:
ÿ Remote place where transportation is not reached, that place of people can transact on other parts of the country.
ÿ It will be best of means of communication between two places.
3. More use of E-banking, more choices:
ÿ Within few years the system of sms and e-banking will make tele-banking.
ÿ User can transfer the fund from one bank to another bank as well as within same bank via E-banking system.
ÿ As the e-banking customer increases, the internet user also will increase in number.
ÿ People will be attracted toward e-banking which enhanced security.
ÿ More then 40 Atms are added from past year.
4. Connecting world:
ÿ From anyplace people can transact to anywhere.
ÿ They stay connected even they don’t know each other.
ÿ Innovative Global village – Innovative Global market.
ÿ Mobilization of money – economic and social development
