The speakers at a State-level seminar conducted by the department of commerce, Andhra Loyola College, on Thursday said that the effectiveness of organisations and individuals would increase manifold if they put the many opportunities and facilities in e-banking to optimum use.

The seminar was conducted on the topic “e-banking in India – challenges and opportunities” with the objective of throwing light on the latest developments and potentialities in the banking sector vis-À-vis the ever-increasing impact of electronic banking.

N.P. Dhavale, Deputy General Manager at the Institute for Development and Research in Banking Technology (IDRBT), Hyderabad, who was the resource person for the seminar, said internet, mobile phones, credit and debit card payments have come to play a great role in the e-banking channels these days. He also provided details on the latest developments in the arena of spam mails and phishing hacks and protocols for e-payment system.

B. Appa Rao, head of the department of commerce and management at Andhra University, who was chief guest, said e-banking had scope for wider applications and there was an increasing awareness on this aspect of banking.

The commerce department also conducted several competitions for the students. Nearly 500 students participated. ALC Correspondent Stanley and Rector D. Showraiah addressed the students at the inaugural function. The speakers touched upon various aspects like the markets, payment systems, banking payment applications and internet banking.

Rex Angelo, vice-principal, distributed the prizes to the winners of competitions at the valedictory function. Divya Agarwal of P.B. Siddhartha College got the first prize in paper presentation, followed by Ch. Surya Prakash of ALC second prize and B. Sai Ram of ANU PG Centre at Nuzvid third prize. In panel discussions, Prerana of PB Siddhartha College stood first while Navin Kumar of ALC and Likith of PB Siddhartha College stood second and third, respectively.