Developing economies ex plore new resources con stantly for their economic development and money has a big role in transforming these efforts into positive results. Money supply is the product of quantity of money (M) and velocity of money (V) according to the American Economist, Irving Fisher. If we take quantity of money as constant, it is the velocity of money, i.e., the number of times money exchanges hands, which plays an important role in maintaining balance between money supply and inflation. Recognizing the importance of bank money, Fisher extended his equation of money supply to: MV+M'V' where M' is bank money and V' is velocity of circulation of bank money. Banks have a major role in increasing the supply of money by rapidly increasing the pace of transfer of money, which, in turn, leads to an increase in the velocity of money. The latest technologies in the banking sector have nearly done away with the time lag in making monetary transactions. They are utilizing Electronic Funds Transfer (EFT) facility to enhance the velocity of money under Core Banking Solutions (CBS) norms of RBI.

There is a disparity in performance of different categories of banks which this case study seeks to bring out. In our analysis, we have studied the performance of all financial institutions involved in EFT. The financial institutions are categorized into Public Sector Banks (PSBs), Private Banks (PBs), Foreign Banks (FBs), Cooperative Banks (CBs) and Non- Banking Financial Intermediaries (NBFIs) that are involved in EFT.

Professional Banker Magazine, Electronic Funds Transfer, EFT, Core Banking Solutions, CBS, Non- Banking Financial Intermediaries, NBFIs, Real-Time Gross Settlement, RTGS, National Electronic Funds Transfer, NEFT, Inter-Quartile Range, IQR, RTGS Transactions, Chi Square Test, Real-time Fund Transfer.