Synopsis Banking today has become more complex with different products and services which seems from reliance on automation and technological change which has shaped it from a manual-intensive industry into one highly automated and technology dependent. The process of doing banking functions deploying Information Technology is a definition of 'Electronic Banking'. The scope and reach of electronic banking, e.g., E-Banking has undergone a complete revolution. This now includes the whole gamut of automation that is seen not only in the bank branches/offices, but also a plethora of delivery channels are made available. The following 'Electronic Banking' mechanisms that exist or are being designed are--Automated Teller Machines (ATM); Direct Deposits; Pay-by-Phone; PC Banking or Home Banking; Credit Cards; Point-of-Sale Transfers/Debit Cards; Stored Value Cards or Smart Cars; Electronic Data Interchange (EDI); Electronic or Digital Cash; Direct Credits; Electronic Fund Transfers; and Real Time, Gross Settlement System.