Online Banking

Online banking is also referred to as internet banking or web banking, which is simply a means of carrying out a banking transaction or money transaction making use of an electronic payment system via the website of a financial institution. The online payment method cannot be separated from a bank’s core banking system in any way.

It is also possible for a bank to operate as just a virtual bank in India, relying solely on internet banking. Often, they could have a physical location, but such would be for more customer support rather than for banking transactions.