The world is facing an emergency in the shape of pandemic, which started in December 2019. The role of the various service-providers in all countries became more significant when lockdown was announced in almost all parts of the world. The banking sector remained opened during the communicable pandemic. The modern banking which is often under scrutiny for its technical limitations and risks is proving useful for the people. It has allowed cashless transactions during the last two months of lockdown in India. SBI (Yono), M banking and i-banking etc. along with UPI based money transfers made the transactions comfortable and allowed people to do online shopping and other activities without physical contact with ATMs, card swiping machines. A comprehensive legislation or legislative amendments in wide number of statutes as well as Allied Rules suitable to technology - driven modern banking is necessary. The amendments are required to be in tune with the susceptible means used for the modern banking. An integrated approach has to be strictly followed making the use of banking more risk-free and user-friendly at the same time. The responsibility rests both with the users and the service-providers (banks) to ensure a guarded experience in the banking services.