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Research Article Open Access

Ebanking for comprehensive EDemocracy: An Indian Discernment


Banking and finance is like oxygen to any democracy. Successful democracy can only be achieved by giving citizen effective, efficient and resourceful money management system (MMS). Internet banking has come the long way since the world's first Internet Bank, The Security First Network Bank has started offering web based transactional services over the net in 1995. At present most of the banks around the world have web presence in form of ATMs, Internet Banking, Support services etc. Concept of e-governance has gained momentum in last 5 years. India is one of front-runners to achieve fully integrated e-governance by 2010. The first and foremost step by Indian government is to allow foreign direct investment (FDI) and regularise Internet banking in India. In 1998, Indian government formed IT task force for initiating organized and serious efforts towards egovernance. At the same time government was facing pressure to make banking more liberal and come up to world's standards. The result of two events can be seen in 21st century. Lot of e-governance initiative were taken around the country with varying degree like 'e-seva' initiative by Andhra Pradesh government to provide governmental services to citizen of state. Certainly banking played a pivotal role in successful implementation of these services. The aim of the paper is to prepare a background for discussion for e-banking and e-democracy. This paper will look for such avenues where banking can play significant role in e-democracy. Lastly, authors will discuss two case studies based on implementation of e-banking in digital democracy. Farmer Service Centre (FSCs) is concept is originated from usage of smart card technology for village farmers. E-seva is a community billing service helping citizen of Andhra Pradesh to access governmental services online.

Nikhil Agarwal,Ruchi Agarwal,Prasoon Sharma,A.M Sherry

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