It means using the electronic media.e-banking is a service provided by many banks that allows a customer to conduct banking transactions such as managing savings,checking accounts,applying for loans or paying bills over the Internetusing personal computer or laptop or mobile phone.

In economics life of India the indigenous bankers have been playing a significant role . When commercial banking had not developed, they were the main source of finance for agriculturists, traders, businessmen, small industrialists, etc.

The activities of indigenous bankers was getting low but their importantance not. After nationalisation of commercial banks and the spread of banking in urban and rural areas, because the borrowers still facing problems to getting loans from the bank.

Indigeneous bankers doesn't have fixed hours and paper formalities that's why the borrowers approach them directly and informally and get loans promptly and easily. They are very popular with traders, businessmen, agriculturists, and ordinary people. 

Indigenous bankers provide finance and remittance facilities to traders and small industrialists by advancing loans; writing, buying and selling hundis; writing finance bills and trade bills. Thus they help not only in financing internal trade but also in expanding it.

indigenous bankers combine banking with trading and agriculture help the farmers to raise production of crops. paying them in cash with no waste of time, and also giving them loans.

The indigenous bankers act as commission agents when they purchase agricultural products on behalf of firms, mills, and trading houses. In this way, they again help in the development of internal trade.

 They now provide long-term credit to companies by subscribing to their shares and debentures.

Consumers’ Cooperative Society – Consumers’ cooperatives are created by the consumers to get there on daily basis requirements at evenhanded prices. Such a society buys goods directly from manufacturers and wholesalers to get rid of the profits of middlemen.

• Nature of Business: Purchasers or consumers of the different products establish these organizations.
• Objective: To supply the necessary goods at a reasonable price is the main objective.
• Fields: It’s very much suitable to provide daily necessary goods to the huge consumers who live the same locality.
• Functions: Products distribution is the main function among the members.
• Advantages: It ensures large scale of purchases.

Producers’ Cooperative Society – Producers or industrial cooperatives are voluntary associations of little producers and artisans who join hands to face opposition and augment production.

• Nature of Business: It is built by the collection of same products producers.
• Objective: To protect the producer’s right in the way of producing the products regularly with the proper distribution.
• Fields: Generally their activities are surrounded in the field of small and cottage industries.
• Functions: It’s restated to the productions activities.
• Advantages: It ensures large scale productions.

Concept of Business

• The term business is derived from the word ‘busy’. Thus, business means being busy.
• However, in a specific sense, business refers to an occupation in which people regularly engage in activities related to purchase, production and/or sale of goods and services with a view to earning profits.
• The activity may consist of production or purchase of goods for sale, or exchange of goods or supply of services to satisfy the needs of other people.
• In every society people undertake various activities to satisfy their needs. These activities may be broadly classified into two groups — economic and non-economic.

The capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. The most obvious example of entrepreneurship is the starting of new businesses. In economics, entrepreneurship combined with land, labor, natural resources and capital can produce profit. Entrepreneurial spirit is characterized by innovation and risk-taking, and is an essential part of a nation's ability to succeed in an ever changing and increasingly competitive global marketplace.

Over the last few decades technology has changed everything around us including banking. It has made possible internet banking. Here the customer can do all his banking activities on the internet without physically going to a bank or any human interaction.
All of the bank’s data and the information is stored on servers. So there are services that the bank provides to the customer online and in real time. Customers can see their account statements, transfer funds, apply for loans, pay their bills all online. Hence the phenomenon of e-banking has caught on in the last few years. Almost all banks provide it now.

1.Utmost good faith: It is the duty of the applicant to disclose all the material facts relating to risk to be covered. A material fact refers to the fact which would influence the mind of a prudent underwriter in deciding whether to accept a risk for insurance and on what terms.
2.Indemnity: The purpose of insurance is to restore the insured person to approximately the same financial position that existed prior to the loss. The losses paid here would be approximately the same and the reason for this is to prevent the insured from profiting from insurance to reduce moral hazards. Indemnity can be defined as the compensation of loss or injury sustained.
3.Mitigation : It is the duty Of the insured to take reasonable steps to minimize the loss or damage to the insured property. If reasonable care is not taken like any prudent person then the claim from the insurance company may be lost.
4.Subrogation : Subrogation refers to transfer of rights and remedies for the insured to the insurer
who has indemnified the insured in respect of the loss.
5.Insurable interest : The person getting an insurance policy must have an insurable interest in the property or life insured. A person is said to have an insurable interest in the property if he is benefited by its existence and prejudiced by its destruction. Without insurable interest, the insurance contract is void.
6.Contribution: The principle of contribution allows the insurer the right to call on other insurers liable for the cost to share the claim payment.
7.Proximate cause : An insurer will only be liable to pay a claim under an insurance contract if the loss which gives rise to the claim was proximately caused by an insured peril. This means that the loss must be directly attributed to an insured peril without any break in the chain of causation.