• ANNEMALLA RAMESH

Abstract "Demonetisation is the biggest push. The biggest beneficiary is digital banking," The world has changed and continues to change rapidly. The convergence of telecom, media and computing has changed the way we work, play and live.Cashless Economy is when the flow of cash within an economy is non-existent and all transactions have to be through electronic channels such as direct debit, credit and debit cards, electronic clearing, and payment systems such as Immediate Payment Service (IMPS), National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) in India. As of now, Cashless Economy has only an academic importance. The Indian Economy continues to be driven by the use of cash; less than 5% of all payments happen electronically. In India, the ratio of cash to gross domestic product is 12.42% in GDP, which is one of the highest in the world. It was 9.47% in China or 4% in Brazil. Further, the number of currency notes in circulation is also far higher than in other large economies; India had 76.47 billion currency notes in circulation in 2012-13 compared with 34.5 billion in the US. In this regard an attempt is made to study the digital banking transactions in India . In Computer era, the banks are offering more sophisticated technological electronic products to their largely preferred customers through information technology, accordingly the customer usage of various e-services also increased tremendously. Hence, it is given a great responsibility to banks in the view of protecting their economical data from the cyber attacks. Further, RBI has to set a proper mechanism for the settlement of online banking disputes.

Indian economy, IMPS, NEFT, RTGS, cashless society

"Digital Banking Services: A way forward towards India’s Cashless Economy- A Study", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 2, page no.669-673, February-2019, Available :http://www.jetir.org/papers/JETIR1902595.pdf

"Digital Banking Services: A way forward towards India’s Cashless Economy- A Study", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 2, page no. pp669-673, February-2019, Available at : http://www.jetir.org/papers/JETIR1902595.pdf