Reading Comprehension Test 6

A majority of Indians prefer to use the internet for accessing banking and other financial services than shopping online, shows a new survey. Almost 57% of Indian respondents using the internet prefer to bank online and use other financial services due to hassle-free access and time saving feature of online banking according to the survey.

Checking information on products and services online comes a close second at 53% while 50% shop for products online. The fourth on the list-around 42% of respondents in India surfed online to look for jobs, the survey said. Online banking has made things much easier for the people and it saves a lot of time.

It has eliminated the problems associated with traditional way of banking where one had to stand in a queue and fill up several forms. Most of the banks in India have introduced customer friendly online banking facility with advanced security features to protect customers against cybercrime.

The easy registration process for net banking has improved customers’ access to several banking products increased customer loyalty, facilitated money transfer to any bank across India and has helped banks-attract new customers. The Indian results closely track the global trends as well conducted among 18216 people from 24 countries, the survey showed that banking and keeping track of finances and searching for jobs are the main tasks of internet users around the globe.

Overall, 60% of people surveyed used the web to check their bank account and other financial assets in the past 90 days, making it the most popular use of the internet globality, shopping was not too far behind at 48%, the survey showed and 41% went online in search of a job in terms of country preferences, almost 90% of respondents in Sweden use e-banking. 

Online banking has also caught on in a big way in nations like France, Canada, Australia, Poland, South Africa and Belgium, the survey showed. The Germans and British come on top for using online shopping with 74% of respondents in both countries having bought something online in the past three months. They are followed by 68% of respondents in Sweden. 65% in US and 62% in South Korea.