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“Services provided by the bank
E-BANKING IN INDIA”
provided by the bank through
E-BANKING IN INDIA”
Submitted by ABHINAV A TAWANI Enroll. No. 08OSB201 OSB Aurangabad.
A report submitted in partial fulfillment of The requirements of THE MBA PROGRAM (The Class of 2010) OSB Campus
E-banking:Internet banking (or E-banking) means any user with a personal computer and a browser can get connected to his bank -s website to perform any of the virtual banking functions. In internet banking system the bank has a centralized database that is web-enabled. All the services that the bank has permitted on the internet are displayed in menu. Any service can be selected and further interaction is dictated by the nature of service. Once the branch offices of bank are interconnected through terrestrial or satellite links, there would be no physical identity for any branch. It would a borderless entity permitting anytime, anywhere and anyhow banking. The delivery channels include direct dialup connections, private networks, public networks, etc. with the popularity of computers, easy access to Internet and World Wide Web (WWW), Internet is increasingly used by banks as a channel for receiving instructions and delivering their products and services to their customers. This form of banking is generally referred to as Internet Banking, although the range of products and services offered by different banks vary widely both in their content and sophistication.
Meaning of E-Banking
E-bank is the electronic bank that provides the financial service for the individual client by means of Internet.
• I am interested in E-BANKING that I am taken this topic. 5 .Need of study • To know the customers perception toward the E-banking service.
Benefits of study 1) Organizing Educational Campaign To Create Goodwill Of Company. 2) Services It Effectively valuable to Create Place in the Minds of Customer. 3) Availability should be increased by using various services Strategy. 6 . 4) Company should make service equal to or better than Competitive Brands By All Means.
Project objectives: • • Find the customer satisfaction relating to E-banking service. ICICI. Research Methodology: Primary Data: In this research with a sample size of nearly 20 customer’s data will be available in form of questionnaire collected in terms of different questions influencing the use of internet banking.Executive summary The project Report on: Services provided by the bank through E-BANKING IN INDIA Project carried at: SBI. SBH. 7 . ETC. To study the awareness of internet banking among the customers of ICICI and HDFC banks.
Although the findings reveal that people know about the services but still many people are unaware and many of them are non – users so the bank should by promotion try to retain the customers. It gives direction to research tools. 8 . Banks should look forward to have some tie – ups with other financial institutions to increase the service base. Conclusion The basic objective of my research was to analyze the awareness among customers for internet banking in INDIA.Internet banking is considered as dependent on awareness among customers which will be studied with help of different independent variable. Only the customers of HDFC & ICICI bank are taken as samples for study. research types and techniques. Secondary data: Collection of information from different kind of books the data of the company what they maintained.
Interim Report 10 .
A report submitted in partial fulfillment of The requirements of THE MBA PROGRAM (The Class of 2010) 11 . 08OSB201 OSB Aurangabad.A Thesis ON “Services provided by the bank through E-BANKING IN INDIA” Submitted by ABHINAV A TAWANI Enroll. No.
29 Chapter 6: Data analysis………………………………………………………32 Chapter 7: findings……………………………………………………………38 Chapter 8: Conclusions………………………………………………………39 12 .27 Chapter 4.OSB Campus Table Contents Chapter 1: Introduction…………………………………………………………16 Chapter 2: Observation of study………………………………………………..….22 Chapter 4: Objective of study………………………………………………….1: Limitation of study………………………………………………27 Chapter 5: Methodology………………………………………………………28 Chapter 5: Questionnaire…………………………………………………..17 Chapter 3: Literature Review ………………………………………………….
Acknowledgement I would like to express my gratitude to all those who gave me the possibility to complete this project. In the end. I would like express my guide Mr. J.R. Phansalkar to continuous guidance. Mangesh Kela and I am also thankful to my faculty guide Mrs. I express our gratitude to my friend who inspired me in this work without their inspirations the work were almost impossible. Signature Abhinav A Tawani 08OSB201 13 .
Information derived from the published and unpublished work of other has been acknowledgement in the list references in given in the bibliography.Declaration I am Abhinav A Tawani this project report is my original work and have not been submitted in any form as a part of any other project. Abhinav A Tawani 08OSB201 14 .
. J.R.CERTIFICATE This is to certify that the Management Thesis titled” Services provide by the banks through E-banking in INDIA”submitted By Abhinav A.. OSB Aurangabad 15 . Tawani Enroll No: 08OSB201 During semester 3rd of the MBA Program (The Class of 2010) embodies original work done by him / her. Signature of the Faculty Supervisor ---------------------------Name (in Capitals) Designation Campus … Mrs. Phansalkar … Faculty Guide .
icici.hdfc.com www.com 16 .wikipedia.com www.google.Bibliography Book:- • E-banking in India • Banking service operation (ICFAI) • Indian Banking • Money & Banking Links Visited www.com www.
there would be no physical identity for any branch. Internet is increasingly used by banks as a channel for receiving instructions and delivering their products and services to their customers. with the popularity of computers. Any service can be selected and further interaction is dictated by the nature of service. The delivery channels include direct dialup connections. In internet banking system the bank has a centralized database that is web-enabled. This form of banking is generally referred to as Internet Banking. All the services that the bank has permitted on the internet are displayed in menu. private networks. 17 . although the range of products and services offered by different banks vary widely both in their content and sophistication. Once the branch offices of bank are interconnected through terrestrial or satellite links. etc. easy access to Internet and World Wide Web (WWW). public networks. It would a borderless entity permitting anytime.Chapter 1 Introduction E-banking:Internet banking (or E-banking) means any user with a personal computer and a browser can get connected to his bank -s website to perform any of the virtual banking functions. anywhere and anyhow banking.
18 .Meaning of E-Banking E-bank is the electronic bank that provides the financial service for the individual client by means of Internet.
while others also offer customers the ability to perform financial transactions. e-banking is defined as the automated delivery of new and traditional banking products and services directly to customers through electronic. or Touch Tone telephone. personal digital assistant (PDA). While the risks and controls are similar for the various e-banking access channels. this booklet focuses specifically on Internet-based services due to the Internet’s widely accessible public network. Accordingly. this booklet begins with a discussion of the two primary types of Internet websites: informational and transactional. or obtain information on financial products and services through a public or private network. transact business. such as paying bills or transferring funds between accounts. Customers access e-banking services using an intelligent electronic device. kiosk. WIRELESS E-BANKING Wireless banking is a delivery channel that can extend the reach 19 . Some websites are strictly informational. E-banking includes the systems that enable financial institution customers. to access accounts.Chapter 2 Observation of study DEFINITION OF E-BANKING For this booklet. individuals or businesses. automated teller machine (ATM). E-BANKING SUPPORT SERVICES WEBLINKING A large number of financial institutions maintains sites on the World Wide Web. interactive communication channels. including the Internet. such as a personal computer (PC).
such services may be offered by an insured financial institution. It may receive and reply to customer’s queries through e-mail. The payment service then sends an e-mail notifying the individual that the funds are available and informs him or her of the methods available to access the funds including requesting a check. The Basic Level Service is the banks’ web sites which disseminate information on different products and services offered to customers and members of public in general. Person-to-Person Payments Electronic person-to-person payments. Wireless banking occurs when customers access a financial institution's network(s) using cellular phones. or retransmitting the funds to someone else. transferring the funds to an account at an insured financial institution. permit consumers to send “money” to any person or business with an e-mail address. and personal digital assistants (or similar devices) through telecommunication companies’ wireless networks. In the next level are Simple Transactional Web sites which allows customers to submit their instructions. applications for 20 . also known as e-mail money. but are frequently offered by other businesses as well. 2. Since neither the payee nor the payer in the transaction has to have an account with the payment service.and enhance the convenience of Internet banking products and services. Person-to-person payments are typically funded by credit card charges transfer from the consumer’s account at a financial institution. a consumer electronically instructs the person-to-person payment service to transfer funds to another individual. pagers. Under this scenario. Banking Services through Internet: 1. Wireless banking services in the United States typically supplement a financial institution's e-banking products and services.
(India Research. both as a medium of delivery of banking services and as a strategic tool for business development.different services. 2000. but do not permit any fund-based transactions on their accounts. Kotak Securities) • Cost of banking service through the Internet from a fraction of costs through conventional methods.7 percent in March 2000. Rough estimates assume teller cost at Re. The Indian Scenario: Internet banking. The above forms of Internet banking service the customer or by new banks. This is increased to 16. queries in their account balances. payment of different bills. ATM transaction cost at 45 paise. subscribing to other products of the bank and to transact purchase and sale of securities. 3. debit cards at 20 21 . phone banking at 35 paise. etc. May 29. Some of these banks are known as ‘Virtual’ banks or ‘Internet only’ banks and may not have physical presence in a country despite offering different banking services. who deliver banking service primarily through Internet or other electronic delivery channels as the value added services. the total internet users in the country are estimated at 9 lakh. Only about 1 percent of Internet users did banking online in 1998.1 per transaction. The third level of Internet banking service are offered by Fully Transactional Web sites which allow the customers to operate on their accounts for transfer of funds. • • At present. . However. etc. this is expected to grow exponentially to 90 lakh by 2003.
jewellery. which can be read and debited by the required amount. Pay bills for dining in a restaurant or boarding and lodging in hotel Avail of any service like car rental. but for 22 . railway/air tickets. These are: 1. Plastic Cards as Media for Payment: - There are four types of plastic cards being used as media for making payments. Thus it is like an electronic purse. etc. 4. Credit Card Debit Card Smart Card ATM Card 1.paise and Internet banking at 10 paise per transaction. the customer first makes a purchase or avails service and pays later on. It may be noted that while through a credit card. 2. Debit Cards: A debit card is issued on payment of a specified amount by the issuing company like a telephone company to a customer on cash payment or on debiting his account by a bank. 2. 3. Credit Cards: The credit card enables the cardholders to: Purchase any item like clothes. etc.
For this reason. petrol bills. debit card are not as popular as credit cards. 23 . a person can have a smart card from a bank with the specified amount stored electronically on it. 4.getting the debit card. For example. As he goes on making transactions with the help of the card. Such cards are used for paying small amounts like telephone calls. ATM Cards: The card contains a PIN (Personal Identification Number) which is selected by the customer or conveyed to the customer and enables him to withdraw cash up to the transaction limit for the day. Smart Cards: Smart Cards have a built-in microcomputer chip. which can be used for storing and processing information. a customer has to first pay the due amount and then make a purchase or avail the service. he can approach the bank to get his card validated for a further specified amount. He can also deposit cash or cheque. etc. the balance keeps on reducing electronically. When the specified amount is utilized by the customer. 3.
The system (known as 'Home link') allowed on-line viewing of statements. Retrieved on 2007-12-14.Chapter 3 Literature Review A new review by Tower group of 10 top US e. Group found that there is difference in terms of actual functionality and usability. 16 million US households will be using Internet banking. The UK's first home online banking services were set up by the Nottingham Building Society (NBS) in 1983 ("History of the Nottingham". Among different banks and their services. In order to make bank transfers and bill payments. The system used was based on the UK's Prestel system and used a computer. An American study conducted last year by Booz-Allen projects that by the year 2000. bank transfers and bill payments. each Internet user is projected to be 50-250% more profitable than the average banking customer. such as the BBC Micro. a written instruction giving details of the intended recipient had to be sent to the NBS who set the details up on the Home link system. It is expected that these Internet customers 24 . or keyboard (Tan data Td1400) connected to the telephone system and television set.banking web sites evaluated several aspects of core online banking components.). While these numbers do not appear to be significant as compared to the total population.
will be some of the banking system's most profitable customers representing close to 30% of all retail banking profits. The services provided are totally secure and unique. 25 . bill payments.com only by using your User ID and Password. share trading and investments through mutual funds. statement generation and a virtual demo of each service. See in brief in final report. Banking becomes a pleasure as the transactions and services become instant with ICICI Bank online Internet banking. During the first login attempt. These cover online account transactions and operations.500 banks will have Internet Web sites and at least 500 of these banks will be offering full-fledged Internet banking services. The study projects that by 1999. credit card and account applications and payments. In 2001 Micro banker send detailed questionnaire to the leading vendors of internet banking software27 companies responded with information on thirty programs the aggregate outcome of the outcome was that almost all the companies have developed functions for internet banking and have inbuilt feature to aid with one to one marketing on the web. it is mandatory to change both passwords . Role of customer when using e-banking • You can access ICICIBank. ICICI Bank ICICI Bank Online Banking Services provide the largest private bank in India right here at your desktops. 1.login and transaction – which would have been mailed to you by the bank.
The Bank will then issue a new password and send it to your mailing address as per our records. Keep all documents that include your account information in a secure location.com password).com. • • • • • • • • • 26 .. you will have written to us using the "Email Us" option. Logout of ICICIBank..com login name or password anywhere. Before leaving the PC please "close" the browser. Never reveal your ICICIBank. Make sure no one can see the account login name or password you are entering when you log on to ICICIBank.com login name and password to anyone (no representative of ICICI Bank will ever ask you for your ICICIBank.• If you forget your password.com before moving on to other Websites. Do not leave your login name and password such that someone sitting at your computer could see them. Kindly check with your branch that this address is updated. Notify ICICI Bank immediately if you notice any unusual account activity. Do not write your ICICIBank. When you login you can view the date and time of your last log in.
Features offered by ICICI bank for internet banking • • • • • • • • • • Balance enquiry and statement Transfer fund online Card to card fund transfer Use debit card online Prepaid mobile recharge Subscribe for mobile banking Link bank account to ATM Lock / activate debit cards /ATM Request a cheque book Stop payment HDFC Net Banking is HDFC Bank's Internet Banking service. Net Banking lets you manage your account from the comfort of your mouse anytime. Providing up-to-the-second account information. anywhere. Features offered by HDFC bank for internet banking • • • • • View account balances and statements Transfer funds between accounts Request stop payments Pay bills Create fixed deposit online 27 .
• Order cheque books USE OF E-BANKING IN INDIA FEOM LAST FEW YEARS Year Incr. % 2002 9 2003 12 2004 15 2005 20 2006 25 2007 32 2008 40 2009 50 28 .
To study the awareness of internet banking among the customers of ICICI and HDFC banks.Finding In 2002-2009 the user of the E-banking is increase in more in every year. 29 . Chapter 4 Objective of study • • Find the customer satisfaction relating to E-banking service.
Chapter 5 30 .1 Limitation of Study • Banks are not giving me all information about E-banking services.Chapter 4. • They do not permit to meet any of the employees in their bank.
There are a number of ways like o Pie-chart o Graphs Questionnaire:31 . suggestions should be made for the betterment of enterprise. The data collected from questionnaire will be tabulated and analyzed so that The result can be presented as simple as possible.Data collection Primary Data: In this research with a sample size of nearly 20 customer’s data will be available in form of questionnaire collected in terms of different questions influencing the use of internet banking. Internet banking is considered as dependent on awareness among customers which will be studied with help of different independent variable. Only the customers of HDFC & ICICI bank are taken as samples for study. Secondary data: Collection of information from different kind of books the data of the company what they maintained. Methodology Once the findings are finalized by a research.
Icici b. Bank of Punjab Ltd 4. Union bank f. Axis e. Name of the customer:- 2. UTI Bank Ltd h. Hdfc g.1. Yes b. No 3. Why this bank a. Sbi c. Sbh d. Service is good 32 . Tick which bank you preferred… a. Do you like E-banking a.
Shopping j. Services of the bank are…. a. Which type of service mostly you use? a.b. 5. Open FD e. Stop payment h. Request a cheque book g. Yes 33 . Are you satisfied with the using of E-banking? a. Balance and transaction history search b. They provide security c. Lock / activate debit cards /ATM f. good c. Railway pass / ticket i. Share payment 6. Cheaper service fees. Very good 7. poor b. Card to card fund transfer d. Transfer fund online c.
No 34 .b.
Final Report 35 .
of user of the banks Icici Sbi Sbh 36 20% 30% 20% .Chapter 6 Data analysis 1) Users of E-banking Yes No 65% 35% 2) No.
Axis Union Hdfc 10% 8% 12% 3) PREFERENCE FOR ONLINE BILL PAYMENT SERVICES Yes No 60% 40% 37 .
4) PREFERENCE FOR ONLINE SHOPPING Yes No 70% 30% 38 .
5) PREFERENCE FOR ONLINE FUND TRANSFAR ` Yes No 35% 65% 39 .
6) SATISFIED CUSTOMERS Yes No 65% 35% 40 .
7) PERFERRED MODE OF PAYMENT (TO BANK) CHEQUE CASH E-BANKING 50 25 25 8) SPEND PER BILL FOR ON LINE BILL PAYMENT 41 .
ABOVE Rs.5-10 BELOW RS.10 BETWEEN RS.5 NOTHING 21 11 32 36 42 .
2. 4. cheque & e-banking. 43 . Different banks different charge for online service. More banks are connecting to the any software co. 5. The services that are mostly used by maximum customers are transactions. After repairing this basic deficiency. 3. In these services the Sbi banks is top in service of E-banking. The mode of the cash deposit in bank is for use to online truncation cash. To prevent online banking from remaining customers to prompt this service through advertising co. Suggestions 1. Banks is not take more charge from there customers. bill payment. In the users ratio of internet banking 65% of customers are using this service. banks must ensure that there services is competitive. 2. to running the E-banking service. online trading. shopping etc. 3.Chapter 7 Findings 1.
44 . research types and techniques. It gives direction to research tools.Chapter 8 Conclusion The basic objective of my research was to analyze the awareness among customers for internet banking in INDIA. Banks should look forward to have some tie – ups with other financial institutions to increase the service base. Although the findings reveal that people know about the services but still many people are unaware and many of them are non – users so the bank should by promotion try to retain the customers.
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