Technological Upgradation and

Customer Satisfaction in Public –

Private Sector Banks
By – Meenakshi
Aggarwal(82)
Nishant Shekhar(88)
Vaibhav Shekhar(113)
Vinod Varyani(116)
Nishu(119)
 Internet Banking
• A bank may offer its customers online access
to account information and payment and fund
transfer facilities.
ADVANTAGES :
• Shopping Online
• Prepaid Mobile Refill
• Register & Pay
• Online Payment of Taxes
 Mobile Banking
• Expansion in the use and geographical reach of
mobile phones has created new opportunities
for banks to use this mode for banking
transactions.
• The operative guidelines for banks on Mobile
Banking transactions in India were issued on
October 8, 2008.
• Till June 30, 2009, 32 banks had been granted
permission to operate Mobile Banking in India.
• Point Of Sale(POS) : Use of debit cards/credit
cards for the purchase of an item or for
payment of a service at a merchant's store,
the card has to be swiped in a terminal
(known as Point of Sale or POS terminal) kept
at the merchant's store.
• RTGS Fund Transfer : RTGS is an inter-bank
funds transfer system, where funds are
transferred as and when the transactions are
triggered (i.e. real time).
• Magnetic ink character recognition(MICR) :
• (ASBA): This is a facility where the investment
application is accompanied by an
authorization to the bank to block the amount
of the application money in the investor’s
bank account.
• ECS(Electronic Clearing Scheme) : Facilitates
payment from a single account at a bank
branch to any number of accounts maintained
with the branches of the same or other banks
– Eg., Payment of dividends.