Barriers and Challenges faced by Consumers in e-banking Services Sector in India.

Electronic banking is the wave of the future. It delivers huge assistances to consumers in terms of the comfort and cost of transactions. But it also gives new trials for country establishments in modifiable and overseeing the financial scheme and in scheming and applying macroeconomic policy.Online merchants and customers alike expect easy, safe and effective buying and selling processes. New technologies are making that simpler and smoother. But user demands for additional payment features and options lead growth in multiple directions.The focus of this paper is on barriers and challenges in e-banking service sector in India. This paper makes a descriptive study about barriers and challenges in e-banking and tries to identify the factor that causes the problems and challenges. Based on various literature reviews key factors which causes the barriers and challenges were analysed. A survey was done among 100 respondents in and around Chennai city. The paper concludes that major factor which has huge impact and the factors were security issues, internet connectivity issues, internet speed issues, lack of awareness about internet usage, taking too much time to speak with the Telebanker, too much time to resolve the transaction, recharge through mobile phone and not successful, credit card not supported by service provider, takes long time for receiving OTP, card payment not supported, card not deducted by the device, incorrect amount deducted. [ABSTRACT FROM AUTHOR]