Historically and ideologically, there has been a divide between the private and the public sectors. There are staunch views that capitalism will take care of itself and government should leave markets alone. As early as the 18th century, Adam Smith’s theory of the “invisible hand” that guides supply and demand toward equilibrium and efficiency was gospel.
As we all know that people around the world increasingly use technology and communication networks to live, work, socialize and remain informed and entertained through the use of online services via personal devices like PCs, smartphones and computer tablets. Therefore online and other-off-branch modes of doing banking transactions have reduced the hassle of visiting a conventional bank branch to a considerable extent.