The awareness towards conserving nature has been flourishing among the crowd since last few decades. We celebrate special days like ‘World Environment Day’, ‘Earth Day’, etc to keep the concern ignited among the masses. Most of us understand the depth of the matter and want to contribute towards preserving the nature.
We all do our bit in day to day life to try and protect our environment by all possible means. Whether this is recycling paper in the office, cycling and leaving the car at home, taking share cabs or something as simple as using eco-friendly carrier bags.
One of such initiatives, which can be taken by any ordinary person, is to reduce the use of paper as much as possible. An increased use of paper results in more and more cutting of trees. The use of internet in the day to day affairs has given us the convenience to minimize the use of paper.
A paperless banking is one of the most relevant initiatives to paper saving which can be taken by all of us. Paperless banking provides all the banking features online. There was a perception till a few years back that online banking is not very secured. But it is now proven that online banking is one of the safest modes of banking. Online banking can be used for almost all the conventional banking activities.
All the banks in India offer net banking facility on their websites with the following features:
- E- Payment
- Cash withdrawal
- Cash deposit
- Fund transfer
- Balance Inquiry
- Apply for loans online
This was a surprising fact until a few years back, but as of today the Paperless Personal Loans are available in our country. The extensive use of internet in the Indian finance sector has made this possible. Nowadays, most of the personal loans are applied online. The personal loans which are applied online are considered better in terms of convenience and processing time. Paperless banking encompasses the entire banking institution and all of its functions. A paperless banking makes you do everything and anything associated with banking from online banking to account management, including account opening. A ‘paperless banking’, indicates all the banking services can be automated and make available online to create more productive, environment-friendly and user-friendly service, interactions and transactions.
Here is how an online banking is believed to be more convenient than conventional banking
- Security and Privacy
The banking always require security as its first preference. An online banking transaction is secured by a number of means such as user id, password, OTP and even some smartphones ask for the fingerprint of the account holder to open the mobile application. The digital banking services use software tools which are near to impossible to crack hence any kind of information is very secure and can’t be hacked.
- Can Be Used 24*7
One of the limitations of conventional banking is that you can use it only during working hours of the bank. Beyond that, any kind of banking service is not available to any customer. But the use of internet has made it possible to avail any of the banking services at any time and any day. One just needs to log into the online account through mobile or a computer and your job will be done with just a few clicks.
- Saves Time and Effort
As mentioned above, in conventional banking systems, one needs to visit the bank to avail any of the services. While visiting a bank one needs travelling and after reaching the bank one needs to stand in long queues to let his/her turn to come. All those processes are much time taking and needs a lot of effort. An online banking has erased all those difficulties of conventional banking
- You Can Avail the Services From Anywhere
The banking services can be availed from any corner of the world when you have the access to your online bank account. Te geographical gap between the bank and its customer is no more an issue to worry about. You can have all your banking jobs done from anywhere like home, office or while being out of the station. One can even apply for personal loan online for any urgent need of money.
A paperless banking has many advantages which any one can avail only if he/she has an internet connectivity. Almost all adult Indians possesses a bank account. Only if we activate our online banking services, we can take a little but significant step towards conserving trees by minimizing the use of paper.