E-Banking an Initiative for Customer Relationship Management Vis a Vis SBI

E-Banking as helped in establishing relations with customers and has provided convenience to the customers by reducing time in processing and transaction. In this Internet era when the active internet user have increased over 45.3 million and when we expect India to rise to third position in Internet usage by 2013, the need to incorporate CRM in operations and in business has increased. It has been estimated that there is about 60% cost saving in e-banking. In India, ICICI bank has started online banking in 1996. After it, City bank, IndusInd bank, HDFC bank introduced it. Very late it was introduced in nationalized banks like SBI, Bank of Baroda, Punjab National bank etc. Findings: It was found that people in the age group of 20-30 prefer e-banking. People above 40 years of age prefer branch banking as they find it easier and they have been banking this way for years. They need guidance for e-banking.While analyzing the benefits of modern banking system using CRM and traditional banking system we the researchers found that the e-CRM practices have in lot many ways simplified the life of the customers. The modern banking system has been found to be time savvy, cost effective and easy to access to the customers. However customers do have security issues in mind. Customers have rated SBI high on Trust and Service quality