Mandeep Kaur* and Kamalpreet Kaur**
Department of Commerce and Business Management, Guru Nanak Dev University,
Amritsar -143005, Punjab, India
*E-mail:, **E-mail:

The current study presents an overview of the development of banking in India from time to time specifically focused on the plastic cards usage trends since these have been introduced in Indian banking sector. Various types of plastic cards provided by banks in India like ATM cards, Debit Cards, Credit Cards and Smart cards have been discussed. The study also highlights the role of these cards as electronic payment tool to be used by customers and discusses clearing and settlement process of these cards. Some future plans made by various banks and institutions are also summarized in a way that it depicts the picture of its future growth and prospects in India.

Keywords: Plastic Money, Electronic Banking, Information Technology.