Recording the business transaction in the Electronic form is fast emerging as an alternative to physical records due to its advantages in terms of convenience and functionality over paper-based records. But it has many challenges like ensuring continued access, preservation and management of records, which are fast catching the attention of archivists the world over. While developing a policy on electronic records, a bank should take into account generic principles.

Digital materials, regardless of whether they are created initially in digital form or converted to digital form are threatened by technology obsolescence and physical deterioration.

More and more information is being created in digital form, either through converting the existing material to digital form or increasingly "born digital", where there is no other format but the digital original. All organizations need to keep records of business decisions and transactions to meet the demands of corporate accountability. These records may also need to be produced as legal documents and so required to be stored securely to demonstrate their authenticity. They need to be managed in terms of user access, and to have systematic disposal criteria applied to them. Digital access has many advantages over paper-based access in terms of convenience and functionality. The increasing proliferation of digital information combined with the considerable challenges associated with ensuring continued access, preservation and management have caught the attention of archivists the world over.

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