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concerned (transmitting branch and receiving branch) must have NEFT facility. There is
no limit on the amount of transfer of funds from the accounts.

Benefits:

Benefits of e-banking to customers:
There are various benefits of e-banking provided to customers which are:
(i) e-banking provides 24 hours, 365 days a year services to the customers of the bank;
(ii) Customers can make some of the permitted transactions from office or house or while
travelling via mobile telephone;
(iii) It inculcates a sense of financial discipline by recording each and every transaction;
(iv) Greater customer satisfaction by offering unlimited access to the bank, not limited by the
walls of the branch and less risk and greater security to the customer as they can avoid travelling
with cash.

Benefits of e-banking to Banks:
The banks also stand to gain by e-banking. The benefits are:
(i) e-banking provides competitive advantage to the bank;
(ii) e-banking provides unlimited network to the bank and is not limited to the number of
branches, Any PC connected to a modem and a telephone having an internet connection can
provide cash withdrawal needs of the customer;
(iii) Load on branches can be considerably reduced by establishing centralised data base and by
taking over some of the accounting functions.

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