Gautam Mudbhatkal, spokesperson, Internet banking, IndusInd Bank, says: ``As far as Internet banking goes, we're in the evolutionary stage.'' Meaning, all that you get by hooking on to the bank site now is information. That includes general information and specific answers to your queries. So you know the rates of interest offered by the bank for any time slab, without having to go to the bank at all. Similarly, you know what's the minimum balance required to open an account, and whether the bank is offering homebanking, ATM facility and 2-in-1 accounts, etc.

Also, if you're an account holder, you needn't rush to the bank any longer to check out your kitty, just a click will tell you all the dealings that you've been through.

Therefore, at this stagewhen financial transactions are not possible on the Net in India, Internet banking lets you communicate with your banker on all your queries.

``But the scope of Internet banking is immense,'' says Mudbhatkal. Once the restrictions on financial transactions on the Net are lifted, it won't matter any more where your bank is situated. For the simple reason that you will stop travelling to your bank altogether if you have access to the Internet. But all this will happen only when financial transactions are allowed on the Net.

And how does the IndusInd Bank compare with ICICI Bank and TimesBank in terms of Internet banking? Mudbhatkal replies: ``Most of the private sector banks are in the same category. Except that IndusInd's software was developed and implemented inhouse with no external support. Therefore, we have built the skills necessary to support the software and build enhancements, thereby reducing the cost.''

Now a look at what is being offered by IndusInd Bank on the Net. First, it familiarises youwith the bank products and services -- both for resident Indians and NRIs. Here, it's worth mentioning that Fast Forex is a very significant service available for NRIs. It allows instant international fund transfer. You also catch a glimpse of the financial highlights of the bank, which gives you a fair idea about the bank's strengths.

Another useful service being offered by IndusInd is downloading of bank forms. So you save that much time. After downloading the relevant form, print it, fill it in and mail it to the bank with the remittance details.The rates of interest, which are updated whenever there's any change, are also an important feature in IndusInd Internet banking. For instance, the last interest rates shown have been updated on July 6, 1998. Daily market updates provided on the IndusInd site could also interest some of you. Though not related directly with the bank's products and services, the market update, complete with foreign exchange rates, is a bonus for the business-savvy accountholder.

Overall, IndusInd Internet banking on www.indusind.com must be a great help to its customers. Maybe IndusInd could provide some more information. For instance, the ICICI Bank site mentions RBI guidelines on domestic term deposits. It also has a column on all the senior appointments in the organisation. For instance, the site shows the appointment of H N Sinor as managing director and chief executive officer of the bank, along with his profile as a banker. Basically, the idea is to allow the customer to get to know his bankers.

Plus, the ICICI Bank site contains some interesting customer information services. For example, what is the Internet? The simple answer is: ``A network of computer networks where tens of thousands of computers located worldwide ``talk to one another through a common communications protocol''. And, what is the World Wide Web? ``Commonly knows as `Web', WWW is the fastest growing part of the Internet. WWW comprises interconnected Web servers, which can publish compounddocuments containing text, graphics, sound and video. These documents are formed using a language called HTML.'' Also, what is a homepage, and so on and so forth.

In other words, Internet banking is not simply banking from home, but it has ample room for education -- on anything under the sun. Here's looking forward to more banks joining the Internet banking wagon.