Difference Between Green Banking And Digital Banking; Every Indian Should Know The Difference Between Digital Banking, Internet Banking, Mobile Banking, RTGS, IMPS And NEFT.
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| Difference Between Green Banking And Digital Banking, Internet Banking, Mobile Banking, NEFT, RTGS, IMPS. |
India is a large country in area wise and based on population India is at second position in the world. India has population approximately 1.4 billion. The population density of the country is differ from state to state. In state wise Uttar Pradesh has the highest population, approximately 20 Crore and Lowest populated state is Sikkim, approximately 6 lakh. Government of India providing banking facilities to all over India to all citizens of country. Government of India controlling all the banks which are doing business in the country. Government bank regulating body is known as Reserve Bank of India (RBI). Government has given all authority to Reserve Bank of India to control and regulate all bank in the country that either Public Sector Bank or Private Sector Bank.
Currently, India has 12 Public sector banks and Reserve Bank Of India (RBI) is the central regulatory authority that manages all the banking operations in India including all private sector banks. At Presently, there are 19 private sector banks in India.
All Indian citizens have their bank account in Public Sector Bank and Private Sector Banks. If we combine all bank accounts together from public and private sector banks, then total number of account holders approximately 294.8 millions, including 176.1 million account holders from rural and semi-urban branches and every day thousands of accounts are opening.
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Here in this story you can know the difference between Green Banking and Digital Banking along with some banking transactions terms such as Internet Banking, Mobile Banking, NEFT, RTGS and IMPS. So read the content details carefully and clear your doubt from all banking terms.
Green Banking:
Green Banking means promoting Environmental Friendly practices in banks to reduce paper wastage which reduce carbon emission to environment and save trees as papers are made from trees. In this Green Banking initiative banks are using Computers, Online Banking platform for all and every bank activities such as to Keep Account holders record, Transactions details and for all financial activities details. In this promotion banks and government advise people to use Online Banking facilities for all kind of money transactions and to avoid uses of paper. This Green Banking initiative also give clear understand to bank for all banking and financial transactions along with all about non-financial activities. Here also all bank account holders get all transactions detail activities in their accounts. This initiative may also have impact on the corruption as this Green Banking platform give all clear information regarding all monetary transactions. So this promotion might be reduce corruption as well.
Digital Banking:
Digital Banking is a system in which all Banking, Financial transactions and Non-Financial activities transform to online banking, where banking and financial services are delivered over the Internet. In Digital Banking Reformation all banking and financial activities are access online through Internet. In Digital Banking system traditional banking systems are transform to digital banking system I.E transform to online internet banking system.
Internet Banking:
Internet Banking also known as Online Banking or web banking. In this form of banking, Banks operates all banking and financial activities through bank web site. Through Internet Banking, bank customer are also access their bank account for money transactions, opening new FD, RD and they can track everything through Internet Banking from their home, account holders no need to visit the bank branches.
Mobile Banking:
Mobile Banking also know as Online Banking, In this form of Banking account holders can access their bank account through their mobile. Here in the mobile banking system account holders can access their bank account for all and every transactions on go. Mobile Banking is nothing else it is same as internet banking, but you can access your bank account through your Mobile Phone. This is also known as portable banking.
NEFT:
NEFT is known as NATIONAL ELECTRONIC FUNDS TRANSFER is an Electronic funds transfer system maintained by Reserve Bank of India (RBI), Started in November 2005. Through NEFT you can transfer money from one bank account holder to another bank account holder, from one bank to another bank.
RTGS:
RTGS is known as REAL TIME GROSS SETTLEMENT. RTGS systems are specialist funds transfer system where the transfer of money or securities takes place from one bank to any other bank on real-time and on gross basis. This system is also a form of money transfer medium maintained by Reserve Bank of India (RBI).
IMPS:
IMPS is known as IMMEDITE PAYMENT SERVIVE. It is an instant payment interbank electronic funds transfer system in India. IMPS offers an interbank electronic fund transfer service through mobile phones. This service is available 27x7 throughout the year including bank holidays.
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