I came across this e-book store(Kinige.com) where one can take books on rent or buy books.
Pros
One can buy books and take books on rent from this website so easily that we need not go to a book shop physically, need not search the piles of books to select the book of our choice. Just a click will fulfill our need. Even if we need a physical copy of the book, it will be delivered at our door steps. Currently this website is offering books in English, Telugu, Hindi and Kannada languages. I found this website very useful.
Cons
I found the rental charges to be slightly expensive. It could be extended to other language books also.
Over all I found this site to be very useful for book lovers.