* Prof. Jayant V. Joshi

ABSTRACT

India is the largest country in South Asia with a huge financial systems characterized by variety of institutions and instruments. ‘The Indian financial sector was well developed even before political independence of the country in 1947. The first bank in India, though conservative was established in 1786 (General Bank of India was the first joint stock bank). In the first half of the 19th century, the East Indian Company established three banks: The Bank of Bengal in 1809, The Bank of Bombay in 1804 and Bank of Madras in 1843. These three banks were amalgamated in 1920 and the Imperial Bank of India was established on Jan 27, 1921. With the passing of the SBI Act in 1955, the Imperial Bank of India was taken over by the newly constituted SBI. The Reserve Bank, which is the Central Bank, was created in 1935 by passing the Reserve Bank of India act 1934. The e-banking is playing a very important role in the present day. The progress of e-banking is measured through various parameters such as internet banking, computerized branches and transactions through retail electronic method etc. The change in currency notes also has the great impact on Indian banking industry. This study focuses on e-banking system and cashless transactions in India. Demonctization has also played a key role in the economic affairs of the country. The decision taken by the Priminister Shri Narendra Modi has encouraged the cashless transactions in the country and growth of e-banking. People in India have now changed their mind and they are following e-marketing and e-shoping. Keywords : e-banking, The Reserve Bank, demonetization, e-marketing and e-shoping..