4.6 Million Internet Users Bank Online In India; Four-Fold Increase Expected In Two Years

Business Standard: An estimated 4.6 million Indian Internet users bank online, and the number is expected to soar to over 16 million, inclusive of Internet and mobile banking, by 2007-08. This was revealed in a study done by the Internet & Mobile Association of India (IAMAI) and Cross Tab Marketing Services. The study was conducted online in December 2005.
Preeti Desai, President of IAMAI, says: “The acceptance of online banking services delivers a pulse on the increasing confidence and trust in online financial transactions. As Indians gain more experience online (50 per cent have been using the Internet since the last six years), they are more likely to do financial transactions like online shopping, online banking and online trading.”
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