In the present scenario technology is affecting the life of every individual both qualitatively and
quantitatively. The quick expansion of information technology has imbibed into the lives of millions of
people and introduced major changes in the worldwide economic and business atmosphere. In the present
scenario online services have become an added feature in the banking sector. Online banking (Internet)
banking allows customers to conduct financial transactions on a secure website. Credit goes to advanced
technology that provided ultimate ease to the customers at their convenient place and time. Online
banking allows people to perform all the banking related activities such as money transfer, past
transactional information, cash withdrawals and deposits etc with a just one click of a mouse. Customers
can easily check the account balance every day just by visiting the website of their bank. This provides the
place and time utility to people provided if one has Internet access. Online banking also eliminates
unnecessary waste, which an organization incurs in the form of office supplies. This facet has also helped
in meeting the social concerns. However, using internet for money transaction is never been free from
risk. More importantly, security is always been an issue of concern.