how internet banking works in india?

Answer 1

IT IS ONLY WITH 1% of people.

Answer 2

State Bank Of India

Answer 3

this is the way it works

Internet Banking in India -


I. Technology and Security Standards:


Banks should designate a network and database administrator with clearly defined roles .

Banks should have a security policy duly approved by the Board of Directors. There should be a segregation of duty of Security Officer / Group dealing exclusively with information systems security and Information Technology Division which actually implements the computer systems. Further, Information Systems Auditor will audit the information systems.

Banks should introduce logical access controls to data, systems, application software, utilities, telecommunication lines, libraries, system software, etc. Logical access control techniques may include user-ids, passwords, smart cards or other biometric technologies. At the minimum, banks should use the proxy server type of firewall so that there is no direct connection between the Internet and the bank's system. It facilitates a high level of control and in-depth monitoring using logging and auditing tools. For sensitive systems, a stateful inspection firewall is recommended which thoroughly inspects all packets of information, and past and present transactions are compared. These generally include a real time security alert.

All the systems supporting dial up services through modem on the same LAN as the application server should be isolated to prevent intrusions into the network as this may bypass the proxy server.

PKI (Public Key Infrastructure) is the most favoured technology for secure Internet banking services. However, as it is not yet commonly available, banks should use the following alternative system during the transition, until the PKI is put in place:

Usage of SSL (Secured Socket Layer), which ensures server authentication and use of client side certificates issued by the banks themselves using a Certificate Server.

The use of at least 128-bit SSL for securing browser to web server communications and, in addition, encryption of sensitive data like passwords in transit within the enterprise itself.

All unnecessary services on the application server such as FTP (File Transfer Protocol), telnet should be disabled. The application server should be isolated from the e-mail server.

All computer accesses, including messages received, should be logged. Security violations (suspected or attempted) should be reported and follow up action taken should be kept in mind while framing future policy. Banks should acquire tools for monitoring systems and the networks against intrusions and attacks. These tools should be used regularly to avoid security breaches. The banks should review their security infrastructure and security policies regularly and optimize them in the light of their own experiences and changing technologies. They should educate their security personnel and also the end-users on a continuous basis.

The information security officer and the information system auditor should undertake periodic penetration tests of the system, which should include:

Attempting to guess passwords using password-cracking tools.

Search for back door traps in the programs.

Attempt to overload the system using DDoS (Distributed Denial of Service) & DoS (Denial of Service) attacks.

Check if commonly known holes in the software, especially the browser and the e-mail software exist.

The penetration testing may also be carried out by engaging outside experts (often called 'Ethical Hackers').

Physical access controls should be strictly enforced. Physical security should cover all the information systems and sites where they are housed, both against internal and external threats.

Banks should have proper infrastructure and schedules for backing up data. The backed-up data should be periodically tested to ensure recovery without loss of transactions in a time frame as given out in the bank's security policy. Business continuity should be ensured by setting up disaster recovery sites. These facilities should also be tested periodically.

All applications of banks should have proper record keeping facilities for legal purposes. It may be necessary to keep all received and sent messages both in encrypted and decrypted form.

Security infrastructure should be properly tested before using the systems and applications for normal operations. Banks should upgrade the systems by installing patches released by developers to remove bugs and loopholes, and upgrade to newer versions which give better security and control.

Answer 4

Yes its slowly and steadily gaining its MOMENTUM In the India its the one of the fastest growing latest technology usage by the Indians

Answer 5

you can invest and draw back throw net banking. and can send money to any a/c holder with out dd or cheque immediate effect.

Answer 6

Yes, now its activity is restricted to an ATM without dispensing cash!!

Answer 7

western-union......wireless trasfer.......