The E-Commerce has transformed the way of business to be done in India. The E-Commerce market is continuously expected to grow in the country.
The reason behind the growth of industry is increasing internet and smart phone penetrations. With the growth, came the urgent requirement of the making legislations for this new medium of conducting business. Information and technology Act, 2000 was framed. It is an act constituted specifically for e-commerce transactions. The act provide legal framework for all the transactions that happen online by creating provision for Electronic Signatures, Digital Signatures, enlisting cyber crimes and deciding compensation and penalties for the same. As result, both the users-customers and the businesses, feel safer in presence of legal binding provision.
The ongoing digital transformation in the country is expected to increase total internet user base. Since December, 2014 the government has various initiatives namely, digital India, make in India, start-up India, skill India and innovation fund. The timely and effective implementation of such programmes with likely support the E-Commerce growth in the country. The RBI and Government of India have been taken major initiatives to promote E-Commerce sector in India. RBI has decided to allow “Inter-operability” among prepaid payment instruments such as digital wallets, prepaid cash coupons and prepaid telephone top up cards. The government of India has proposed various major to quicken India’s transition to be cashless economy, including a ban on cash transactions over a certain limit, tax incentive for creation of a cashless infrastructure, promoting greater usage of none cash modes payments and making Aadhaar based payments more widespread.
E-Commerce is the one of the segment of E-Business. E-Business is a wider term; it is any process of business conducted electronically or over a computer network, in addition to e-commerce. E.g. when using computer network for company’ internal purpose, production, marketing etc.
, whereas E-Commerce defined as a general term for buying and selling process that is supported by electronic means.E-Banking is one of the part of E-Commerce and E-Banking or Virtual Banking or Online Banking or Net banking is the terms used inter-changeably. It allows the users to execute financial transactions via the internet.The present study of “Emerging Issues in E-Commerce and Re-engineering required for E-commerce” A study of commercial banks in Himachal Pradesh is the vital importance. The Himachal Pradesh is hilly state but not economically backward and continuously in development progression. Now a day banks play a major role in the development of the country in general and state of Himachal Pradesh in particular. All banks especially commercial banks expending its branches all over the state and number of bank customer is increasing. Commercial bank restructuring it’s functioning in order to provide better product and services at their home and reduce unnecessary burden in bank branches.
In this regard E-Banking plays an important role for catering better product and services at their home with minimum costs and reduce unnecessary burden on bank branches. The present study has attempted to review, examine, and explorer the emerging issue of E-Commerce and try to search the way by which it can be resolve, especially in field of commercial banks.In this chapter an attempt has been made to summaries the analysis carried out in previous chapters in order to establish results. This chapter has been divided into two parts, viz., summary and conclusions and suggestions.
