The advent of E-Business accompanied with technological innovations and globalization is constantly propelling the businesses organization to redefine their business operations in terms of value chain reengineering and restructuring business models. Likely, the financial sector is metamorphosing under the impact of competitive, regulatory and technological forces . Financial institutions especially the banking sector is currently in a transition phase. The banks have put themselves in the World Wide Web to take advantage of the internet’s power and reach, to cope with the accelerating pace of change of business environment. The famous quote by Bill Gates that banking is vital to a healthy economy, but banks themselves are not, highlights the crucial nature of the electronic forces that are affecting banks more than any other financial service provider group. This transition of business operations by banks have crated new mode of operation called E-Ba