Rise in Internet transactions helping banks reduce costs

......On Tuesday, ICICI introduced a Facebook application that allows customers to transfer funds among other things using the social networking website. The rise of transactions through the Internet should not be seen as being at the cost of bank branches, Kochhar said. “Branches have its own place for customer experience. It is not that non-branch products will replace branches, but in fact it will be complementary to branches, allowing a customer to bank in the car or on the phone,” Kochhar said.............

Read - Mint