Online banking and mobile banking are among the processes and strategies being adopted to increase the quality of banking services in the modern economy. This banking has created many opportunities for the customers. Conventional banking facilities were limited to certain working days and it took a long time to get money from one branch to another. But with online banking and mobile banking, it is possible to get services 24 hours a day. Moreover, it is possible to transfer money from one branch to another in just a few minutes. Customers can withdraw money by check from any branch of the bank. This results in less waste of time, less waste of money and increase the dynamism of the business. With Mobile Banking , it is possible to purchase bus-train tickets wherever utility bills are paid . It is possible to send and withdraw money remotely. As a result of the expansion of such banking business, the importance of non-formal credit sources in rural areas has diminished. Rural peasantry is protected from high interest rates. Moreover, remittances from expatriates reach the country quickly under this banking service. As a result, the country's foreign exchange reserves increased.