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Bank Transfer
Bank Transfer
ON
COMPARITIVE STUDY & ANALYSIS
ON E-BANKING SERVICES
OF
STATE BANK OF INDIA (SBI)
&
INDUSTRIAL CREDIT & INVESTMENT CORPORATION OF
INDIA BANK (ICICI)
BY
SHWETA KHARBANDA
Research Guide
Mr. AMJAD ALI
(Finance lecturer)
TABLE OF CONTENTS
I
II
III
IV
V
VI
ACKNOWLEDGEMENT
PREFACE
EXECUTIVE SUMARY
CERTIFICATE OF DECLARATION
INTRODUCTION
INDUSTRY PROFILE
COMPANY PROFILE
E-BANKING SERVICES
RESEARCH METHODOLOGY
RESEARCH DESIGN
VI
RESEARCH PROCESS
DATA ANALYSIS
FINDING,CONCLUSIONS &
RECOMMENDATIONS
VII BIBLIOGRAPHY
VIII ANNEXURES
ACKNOWLEDGEMENT
SHWETA KHARBANDA.
PREFACE
EXECUTIVE SUMMARY
This report has all the details covering the level of e-banking services provided by
the ICICI and SBI Bank to its customers.
It includes the research on the customers expectations and requirements of
ebanking services of the bank. The research is basically done on the comparative analysis
of ebanking services of ICICI and SBI bank. It is done to know that which bank is better
in providing the e banking services. I have reviewed various literatures on the net
pertaining to the SBI & ICICI bank. Through the data analysis it was found that allover
the e-banking service of SBI bank is the best as compared to ICICI bank. The SBI Bank
has more customer satisfaction than the other banks. Through a small sample size also it
was revealed and proved that the public sector bank that is SBI Bank is at a developing
and progressing side than the ICICI Bank. The customers were more positive in their
approach. Making this kind of report created enthusiasm and interest in this topic.
CERTIFICATE OF DECLARATION
I hereby declare that this project is my original workand have not been submitted
in any form as a part of any other part.
Information derived from the published and unpublished data of other has been
acknowledged in the list of references given in the bibliography.
SHWETA KHARBANDA
INTRODUCTION
INDUSTRY PROFLE OF STATE BANK OF INDIA (SBI)
The evolution of State Bank of India can be traced back to the first decade of the
19th century. It began with the establishment of the Bank of Calcutta in Calcutta, on 2
June 1806. The bank was redesigned as the Bank of Bengal, three years later, on 2
January 1809. It was the first ever joint-stock bank of the British India, established under
the sponsorship of the Government of Bengal. Subsequently, the Bank of Bombay
(established on 15 April 1840) and the Bank of Madras (established on 1 July 1843)
followed the Bank of Bengal. These three banks dominated the modern banking scenario
in India, until when they were amalgamated to form the Imperial Bank of India, on 27
January 1921.
An important turning point in the history of State Bank of India is the launch of
the first Five Year Plan of independent India, in 1951. The Plan aimed at serving the
Indian economy in general and the rural sector of the country, in particular. Until the
Plan, the commercial banks of the country, including the Imperial Bank of India, confined
their services to the urban sector. Moreover, they were not equipped to respond to the
growing needs of the economic revival taking shape in the rural areas of the country.
Therefore, in order to serve the economy as a whole and rural sector in particular, the All
India Rural Credit Survey Committee recommended the formation of a state-partnered
and state-sponsored bank.
The All India Rural Credit Survey Committee proposed the take over of the
Imperial Bank of India, and integrating with it, the former state-owned or state-associate
banks. Subsequently, an Act was passed in the Parliament of India in May 1955. As a
result, the State Bank of India (SBI) was established on 1 July 1955. This resulted in
making the State Bank of India more powerful, because as much as a quarter of the
resources of the Indian banking system were controlled directly by the State. Later on, the
State Bank of India (Subsidiary Banks) Act was passed in 1959. The Act enabled the
State Bank of India to make the eight former State-associated banks as its subsidiaries.
The State Bank of India emerged as a pacesetter, with its operations carried out by
the 480 offices comprising branches, sub offices and three Local Head Offices, inherited
from the Imperial Bank. Instead of serving as mere repositories of the community's
savings and lending to creditworthy parties, the State Bank of India catered to the needs
of the customers, by banking purposefully. The bank served the heterogeneous financial
needs of the planned economic development.
BRANCHES
ATM Services
SBI provides easy access to money to its customers through more than 8500
ATMs in India. The Bank also facilitates the free transaction of money at the ATMs of
State Bank Group, which includes the ATMs of State Bank of India as well as the
Associate Banks State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State
Bank of Indore, etc. You may also transact money through SBI Commercial and
International Bank Ltd by using the State Bank ATM-cum-Debit (Cash Plus) card.
Subsidiaries
The State Bank Group includes a network of eight banking subsidiaries and
several non-banking subsidiaries. Through the establishments, it offers various
services including merchant banking services, fund management, factoring services,
primary dealership in government securities, credit cards and insurance.
[[
Other Services
Agriculture/Rural Banking
NRI Services
ATM Services
Demat Services
Corporate Banking
Internet Banking
Mobile Banking
International Banking
RBIEFT
E-Pay
E-Rail
Broking Services
Gift Cheques
COMPANY PROFILE
State Bank of India is an India-based bank. In addition to banking, the Company,
through its subsidiaries, provides a range of financial services, which include life
insurance, merchant banking, mutual funds, credit card, factoring, security trading,
pension fund management and primary dealership in the money market. It operates in
four business segments: Treasury, Corporate/Wholesale Banking, Retail Banking and
Other Banking Business. The Treasury segment includes the investment portfolio and
trading in foreign exchange contracts and derivative contracts. The Corporate/Wholesale
Banking segment comprises the lending activities of Corporate Accounts Group, Mid
Corporate Accounts Group and Stressed Assets Management Group. The Retail Banking
segment consists of branches in National Banking Group, which primarily includes
personal banking activities, including lending activities to corporate customers having
banking relations with branches in the National Banking Group.
PRODUCT PROFILE
SBI offers Corporate and Retail Internet Banking Products and Other Value Added Services-:
E-Ticketing
Bill Payment
eZtrade@sbi
RTGS/NEFT
E-Payment
Fund Transfer
Third Party transfer
Demand Draft
Cheque Book Request
Account opening request
Demat Account Statement
Present Scenario
ICICI Bank has its equity shares listed in India on Bombay Stock Exchange and
the National Stock Exchange of India Limited. Overseas, its American Depositary
Receipts (ADRs) are listed on the New York Stock Exchange (NYSE). As of December
31, 2008, ICICI is India's second-largest bank, boasting an asset value of Rs. 3,744.10
billion and profit after tax Rs. 30.14 billion, for the nine months, that ended on December
31, 2008.
ICICI Bank has a wide network both in Indian and abroad. In India alone, the
bank has 1,420 branches and about 4,644 ATMs. Talking about foreign countries, ICICI
Bank has made its presence felt in 18 countries - United States, Singapore, Bahrain, Hong
Kong, Sri Lanka, Qatar and Dubai International Finance Centre and representative offices
in United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and
Indonesia. The Bank proudly holds its subsidiaries in the United Kingdom, Russia and
Canada out of which, the UK subsidiary has established branches in Belgium and
Germany.
PRODUCT PROFILE
Personal Banking
Deposits
Loans
Cards
Investments
Insurance
Demat Services
Wealth Management
NRI Banking
Money Transfer
Bank Accounts
Investments
Property Solutions
Insurance
Loans
Business Banking
Cash Management
Trade Services
FXOnline
SME Services
Online Taxes
Custodial Services
PRODUCT PROFILE
ICICI Bank is the one-stop shop for all your forex needs.
Whether your destination is Paris, Mauritius or enchanting Rome, ICICI Bank offers the
best of both worlds. They buy and sell the following :
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 webenabled. 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.
upon the customer, and these e-banking services would fully integrate with the core
banking solution that is already in usage. The major idea is to provide a series of services
to the customer through the internet, and make the customer feel flexible in calling out
simple tasks faster instead of making visit to the bank every time. The e-banking service
is open only to savings bank. Customers and not for current account holders. The
customer is privileged to use most of the system only as a viewing phase, the only online
transactions the customer can do are chequebook requisition and fund transfer among his
personal accounts.
Wireless banking is a delivery channel that can extend the reach and enhance the
convenience of Internet banking products and services. Wireless banking occurs when
customers access a financial institution's network(s) using cellular phones, pagers, and
personal digital assistants (or similar devices) through telecommunication companies
wireless networks. Wireless banking services in the United States typically supplement a
financial institution's e-banking products and services.
Person-to-Person Payments
Electronic person-to-person payments, also known as e-mail money, permit
consumers to send money to any person or business with an e-mail address. Under this
scenario, a consumer electronically instructs the person-to-person payment service to
transfer funds to another individual. 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, transferring the funds to an
account at an insured financial institution, or retransmitting the funds to someone else.
Person-to-person payments are typically funded by credit card charges transfer from the
consumers account at a financial institution. Since neither the payee nor the payer in the
transaction has to have an account with the payment service, such services may be
offered by an insured financial institution, but are frequently offered by other businesses
as well.
1.
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.
It may receive and reply to customers queries through e-mail;
2.
In the next level are Simple Transactional Web sites which allows customers to
submit their instructions, applications for different services, queries in their account
balances, etc. but do not permit any fund-based transactions on their accounts;
3.
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,
payment of different bills, subscribing to other products of the bank and to transact
purchase and sale of securities, etc. The above forms of Internet banking service the
customer or by new banks, who deliver banking service primarily through Internet or
other electronic delivery channels as the value added services. 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.
At present, the total internet users in the country are estimated at 9 lakh. However,
this is expected to grow exponentially to 90 lakh by 2003. Only about 1 percent of
Internet users did banking online in 1998. This is increased to 16.7 percent in
March 2000. - (India Research, May 29, 2000, Kotak Securities)
Cost of banking service through the Internet from a fraction of costs through
conventional methods. Rough estimates assume teller cost at Re.1 per transaction,
ATM transaction cost at 45 paise, phone banking at 35 paise, debit cards at 20
paise and Internet banking at 10 paise per transaction.
Plastic Cards as Media for Payment: There are four types of plastic cards being used as media for making payments. These
are:
1. Credit Card
2. Debit Card
3. Smart Card
4. ATM Card
1. Credit Cards: The credit card enables the cardholders to: Purchase any item like clothes,
jewellery, railway/air tickets, etc. Pay bills for dining in a restaurant or boarding and
lodging in hotel
Avail of any service like car rental, etc.
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.
Thus it is like an electronic purse, which can be read and debited by the required
amount.
It may be noted that while through a credit card, the customer first makes a purchase or
avails service and pays later on, but for getting the debit card, a customer has to first pay
the due amount and then make a purchase or avail the service. For this reason,
debit card are not as popular as credit cards.
3. Smart Cards: Smart Cards have a built-in microcomputer chip, which can be used for storing and
processing information. For example, a person can have a smart card from a bank with
the specified amount stored electronically on it. As he goes on making
transactions with the help of the card, the balance keeps on reducing electronically. When
the specified amount is utilized by the customer, he can approach the bank to get his card
validated for a further specified amount. Such cards are used for paying small amounts
like telephone calls, petrol bills, etc.
4. 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. He can also deposit cash or cheque
.
Internet banking in India
The Reserve Bank of India constituted a working group on Internet Banking. The group
divided the internet banking products in India into 3 types based on the levels of access
granted. They are:
interaction between the customer and bank's application system. No identification of the
customer is done. In this system, there is no possibility of any unauthorized person
getting into production systems of the bank through internet.
ii) Electronic Information Transfer System: The system provides customerspecific information in the form of account balances, transaction details, and statement of
accounts. The information is still largely of the 'read only' format. Identification and
authentication of the customer is through password. The information is fetched from the
bank's application system either in batch mode or off-line. The application systems
cannot directly access through the internet.
Fund transfer
You can transfer any amount from one account to another of the same or any another
bank. Customers can send money anywhere in India. Once you login to your account,
you need to mention the payees's account number, his bank and the branch. The transfer
will take place in a day or so, whereas in a traditional method, it takes about three
working days. ICICI Bank says that online bill payment service and fund transfer facility
have been their most popular online services.
With Internet banking, customers can not only pay their credit card bills online but also
get a loan on their cards. If you lose your credit card, you can report lost card online.
Railway pass
This is something that would interest all the aam janta. Indian Railways has tied up
with ICICI bank and you can now make your railway pass for local trains online. The
pass will be delivered to you at your doorstep. But the facility is limited to Mumbai,
Thane, Nashik, Surat and Pune.
Nowadays, most leading banks offer both online banking and demat account.
However if you have your demat account with independent share brokers, then you need
to sign a special form, which will link your two accounts.
Shopping
With a range of all kind of products, you can shop online and the payment is also
made conveniently through your account. You can also buy railway and air tickets
through Internet banking.
Security Precautions
Customers should never share personal information like PIN numbers, passwords etc
with anyone, including employees of the bank. It is important that documents that contain
confidential information are safeguarded. PIN or password mailers should not be stored,
the PIN and/or passwords should be changed immediately and memorised before
destroying the mailers.
Customers are advised not to provide sensitive account-related information over
unsecured e-mails or over the phone. Take simple precautions like changing the ATM
PIN and online login and transaction passwords on a regular basis. Also ensure that the
logged in session is properly signed out.
The advantages of Internet banking are obvious. Business people can access their
personal and business account information while saving a trip to the bank. You can check
your balance whenever you need to, even if the bank is closed. Not only that, but you can
pay your bills online as well, which saves both time and money on postage.
Another advantage of Internet banking is the ability to easily compare services offered
by different banks. You can buy financial products and apply for loans online, and in
doing so, you can compare your options to ensure that you get the best possible services.
You can even buy insurance online through Internet banking services. Stocks and bonds
and other investments can be managed with online banking from your home or office
independent of a financial intermediary like a stockbroker.
SBI BANK
SBI offers Corporate and Retail Internet Banking Products and Other Value Added
Services
E-Ticketing
You can book your railway, air and bus tickets online through Online.
To book your train ticket, just log on to irctc.co.in and create an ID thereat if you do not
have one. Submit your travel plan and book the ticket(s)-either
and select State Bank of India in the payment options. You will be redirected to Internet
Banking site of SBI (www.onlinesbi.com). After submitting the respective ID and
password, you can select your account. After a successful debit, Railways will generate
the ticket. E-ticket can be printed by you whereas the i-ticket will be dispatched by
IRCTC at the given address. Service charges @ Rs.10/- per transaction shall be levied in
addition to the cost of the ticket. Cancellation of E-ticket can be done by logging on to
IRCTC's site; refund amount will be credited to your account directly within 2-3 days.
For cancellation of i-ticket, you shall be required to submit your ticket at a computerized
counter of Railways and on cancellation, the amount shall be credited back to your
account.
You can also book your Air ticket through the e-ticketing feature. Logon to Indian
Airlines website to make a payment for an e-ticket through State Bank of India, you need
to select SBI as the payment option. The payment request will be redirected to Internet
Banking site. The request may be processed based on values sent from the airlines
website. Once a transaction is processed, an appropriate response will be sent to airlines
site to update the status of the transaction. You can print the E-ticket immediately.
To book bus tickets to destinations in Karnataka, log on to the KSRTC website.
Provide details about the start and end points of your journey, date of journey and number
of tickets. Verify availability of seats on the selected date and confirm the transaction.
Select Online to make the payment. Provide your credentials and select the SBI account
that will be debited for the payment. You are provided a KSRTC reference number for
your e-Ticket.
SBI E-Tax
You can pay your taxes online through SBI E-Tax. This facility enables you to pay
TDS, Income tax, Indirect tax, Corporation tax, Wealth tax, Estate Duty and Fringe
Benefits tax. Click the e-Tax link in the home page. You are displayed a page with two
links Direct Tax and Indirect Tax.
Click the Direct Tax link. You will be redirected to the NSDL site where you can
select an online challan based on the tax you wish to pay. Provide the PAN, name and
address, assessment year, nature of payment and bank name. On selecting the bank name
as SBI and submitting the form, you will be redirected to the Internet Banking site. After
submitting the respective ID and password, you can select your account for making
payment of taxes. After payment is successful you can print the E-Receipt for the
payment. The E-receipt can be printed at a later date also and the same can be retrieved
from: Enquiries > Find Transactions > Status Enquiries > Click on the respective
transaction to print the tax receipt.
The Indirect Tax link is used to make Central Excise and Service Tax payments to
Central Board of Excise and Customs. The online payment feature facilitates anytime,
anywhere payment and an instant E-Receipt is generated once the transaction is
complete. The Indirect Tax payment facility is available to Registered Central
Excise/Service Tax Assessee who possesses the 15 digit PAN based Assessee Code. You
can make CBEC payments using the Indirect Taxes link available in the
Payments/Transfers tab. You need to provide your assessee code as registered with CBEC
and select the minor heads towards which you intend to pay tax. Select the appropriate
tax type and enter the tax amount. Select an account for debiting the total tax amount.
You can use any of your transaction accounts to make the payment. If a payment is
successful, CBEC provides a link to generate an E-Receipt for the payment.
Internet banking customers can pay tax through site to site integration. For
government agencies, which are not Internet-enabled, OnlineSBI offers the Government
Tax Payment facility. This facility is available as a post login feature in the retail and
corporate banking sites of the Online SBI portal.
Please note that the cut-off time for OLTAS and CBEC payment is 8 P.M. IST. Any
transactions created after the cut off time will be processed after 7 A.M. on the following
day
Bill Payment
A simple and convenient service for viewing and paying your bills online.
No more queues
Using the bill payment you can view and Pay Various bills online, directly from your
SBI account. You can pay telephone,electricity, insurance,credit cards and other bills
from the comfort of your house or office, 24 hours a day, 365 days a year. Simply logon
to https://www.onlinesbi.com/ with your credentials and register the biller to which you
want to pay, with all the bill details. Once the bill is uploaded by the biller, you can make
payment online.You can see 'how do i' to learn the steps for using the facility.
You can also set up AutoPay instructions with an upper limit to ensure that your bills are
paid automatically whenever they are due. The upper limit ensures that only bills within
the specified limit are paid automatically, thereby providing you complete control over
these payments.
The e-PAY service is available in various cities across the country and you can now make
payments to several billers in your region.
eZtrade@sbi
State Bank of India (SBI) in alliance with Motilal Oswal Securities Limited and SBI
Caps Securities Limited (SSL) now introduces you to 'eZ-trade@sbi', a State-of-the-Art
online trading platform predominantly to cater to every trading need (presently available
to Indian Residents Only) and offers a truly world class experience of online investing anyplace, anytime. This service provides you with a 3-in-1 account which is an integrated
platform of Bank Account, Demat Account and an Online Trading Account to give you a
convenient and paper free trading experience under one roof.We provides online trading
of shares of Companies listed on BSE and NSE. eZ-trade@sbi will let you trade from the
comfort of your home or office through the Internet.
Buying and selling of shares is now just a click away. So go ahead and enjoy your
fast, easy and hassle-free online shares/securities trading experience with India's Largest
Bank
RTGS/NEFT
You can transfer money from your State Bank account to accounts in other banks
using the RTGS/NEFT service. The RTGS system facilitates transfer of funds from
accounts in one bank to another on a "real time" and on "gross settlement" basis. This
system is the fastest possible interbank money transfer facility available through secure
banking channels in India. RTGS transaction requests will be sent to RBI immediately
during working hours post working hours requests are registered and sent to RBI on next
working day. You can also schedule a transaction for a future date. You can transfer an
amount of Rs.2 lakhs and above using RTGS system.
National Electronic Funds Transfer (NEFT) facilitates transfer of funds to the credit
account with the other participating bank. RBI acts as the service provider and transfers
the credit to the other bank's account.
NEFT transactions are settled in batches based on the following timings
1. 11 settlements on weekdays - at 09:00, 10:00, 11:00, 12:00, 13:00, 14:00, 15:00,
16:00, 17:00, 18:00 and 19:00 hrs.
2. 4 settlements on Saturdays - at 09:00, 11:00, 12:00 and 13:00 hrs.
Please note that all the above timings are based on Indian Standard Time (IST) only.
In order to transfer the funds to an account with other bank, kindly ensure that the bank
branch of the beneficiary is covered under the RGTS/NEFT payment system. It is
recommended that you choose the Bank/Branch from the drop down option provided
under the link "Add InterBank beneficiary".
Please exercise care to provide the correct account number and name of the beneficiary.
E-Payment
You can pay your insurance premium, mobile phone bills and also you can purchase
mutual fund units by coming from the biller's website and selecting state bank of India in
the payment option.
LIC PREMIUM: For paying premium of LIC policy logon to www.licindia.com and
register your policy details. When the premium is due select State Bank of India in the
make payment option.
SBI Mutual FUND: You can invest in the SBI Mutual Fund schemes online. Logon to
www.sbimf.com and select the scheme in which you want to make investment in the
payment option select State Bank of India.
CCAVENUES: Enjoy shopping at the CCAvenue Shopping Mall and purchase from a
wide variety of products and services through CCAvenue Certified Vendors. Make
payments for your purchases using your Internet enabled SBI accounts.
Fund Transfer
The Funds Transfer facility enables you to transfer funds within your accounts in the
same branch or other branches. To make a funds transfer, you should be an active Internet
Banking user with transaction rights.
Daily limit for Funds Transfer to own Accounts:
Daily limit for Funds Transfer to PPF Accounts in the same branch or across branches
:Rs.70000. This is subject to a ceiling of Rs.70000, by a maximum 12 deposits, during
the Financial Year, for the Principal Amount.
Just log on to retail section of the Internet Banking site with your credentials and
select the Funds Transfer link under Payments/Transfers tab. You can see all your online
debit and credit accounts. Select the debit account from which you wish to transfer funds
and the credit account into which the amount is to be credited. Enter the amount and
remarks. The remarks will be displayed in your accounts statement for this transaction.
You will be displayed the last five funds transfer operations on your accounts. On
confirming the transaction, you will be displayed a confirmation page with the details of
the transaction and the option to submit or cancel the funds transfer request. A reference
number will be generated for your record.
Demand Draft
The Internet Banking application enables you to register demand drafts requests
online. You can get a demand draft from any of your Accounts (Savings Bank, Current
Account, Cash Credit or OverDraft). You can set limits for demand drafts issued from
your
accounts
or
use
the
bank
specified
limit
for
demand
drafts.
You can opt to collect the draft in person at your branch, quoting a reference to the
transaction. A printed advice can also be obtained from the site for your record.
Alternatively, you may request the branch to courier it to your registered address, and
the courier charges will be recovered from you.
If you have any queries, kindly approach your branch, quoting the reference number
generated for the request.
NRIeZ-trade@sbi with SS
Arehaving an account on sbi? if yes then it would be easier for you open an ebanking
account. go and meet your bank manager, he will give a form, just fill up. and after few
day you will be link to ebanking.
the Terms of service: OnlineSBI
General Information:
1.
You should register for OnlineSBI with the branch where you maintain the
account.
2.
If you maintain accounts at more than one branch, you need to register at each
branch separately.
3. Normally OnlineSBI services will be open to the customer only after he acknowledges
the receipt of password.
4. We invite you to visit your account on the site frequently for transacting business or
viewing account balances. If you believe that any information relating to your account
has a discrepancy, please bring it to the notice of the branch by e-mail or letter.
5. In a joint account, all account holders are entitled to register, as users of OnlineSBI,
but transactions would be permitted based on the account operation rights recorded at the
branch. (To begin with the services will be extended only to single or Joint E or S
accounts only).
6. All accounts at the branch whether or not listed in the registration form, will be
available on the OnlineSBI. However the applicant has the option to selectively view
the accounts on the OnlineSBI.
Security:
1. The Branch where the customer maintains his account will assign:
a) User-id &
b) Password
2. The User-id and Password given by the branch must be replaced by UserName and
Password of customers choice at the time of first log-on. This is mandatory.
3. Bank will make reasonable use of available technology to ensure security and to
prevent unauthorised access to any of these services. The OnlineSBI service is
VERISIGN certified which guarantees, that it is a secure site. It means that
You are dealing with SBI at that moment.
The two-way communication is secured with 128-bit SSL encryption technology, which
ensures the confidentiality of the data during transmission.
These together with access control methods designed on the site would afford a high level
of security to the transactions you conduct.
SBI will soon be implementing PKI/Digital Signature.
5. You are welcome to access OnlineSBI from anywhere anytime. However, as a matter
of precaution, customers may avoid using PCs with public access.
6. There is no way to retrieve a password from the system. Therefore if a customer
forgets his password, he must approach the branch for re-registration.
Banks terms:
7. All requests received from customers are logged for backend fulfilment and are
effective from the time they are recorded at the branch.
8. Rules and regulations applicable to normal banking transactions in India will be
applicable mutatis mutandis for the transactions executed through this site.
9. The OnlineSBI service cannot be claimed as a right. The bank may also convert this
Customers obligations:
1. The customer has an obligation to maintain secrecy in regard to Username & Password
registered with the Bank. The bank presupposes that login using valid Username and
Password is a valid session initiated by none other than the customer.
2. Transaction executed through a valid session will be construed by SBI to have
emanated from the registered customer and will be binding on him / her.
3. The customer will not attempt or permit others to attempt accessing the OnlineSBI
through any unlawful means.
Present Scenario
ICICI Bank has its equity shares listed in India on Bombay Stock Exchange and the
National Stock Exchange of India Limited. Overseas, its American Depositary Receipts
(ADRs) are listed on the New York Stock Exchange (NYSE). As of December 31, 2008,
ICICI is India's second-largest bank, boasting an asset value of Rs. 3,744.10 billion and
profit after tax Rs. 30.14 billion, for the nine months, that ended on December 31, 2008.
Personal Banking
Deposits
Loans
Cards
Investments
Insurance
Demat Services
Wealth Management
NRI Banking
Money Transfer
Bank Accounts
Investments
Property Solutions
Insurance
Loans
Business Banking
Cash Management
Trade Services
FXOnline
SME Services
Online Taxes
Custodial Services
COMPANY PROFILE
ICICI Bank Limited (the Bank) is a banking company engaged in providing a range
of banking and financial services, including commercial banking and treasury operations.
It operates under four segments: retail banking, wholesale banking, treasury and other
banking. The Banks subsidiaries include ICICI Prudential Life Insurance Company
Limited, ICICI Lombard General Insurance Company Limited, ICICI Trusteeship
Services Limited, ICICI Prudential Pension Funds, Management Company Limited,
ICICI Home Finance Company Limited and ICICI Securities Limited.
Replacement Card
Online access
Travellers Cheques
When you travel abroad, you can opt for Travellers Cheques (TCs) as an alternative
to cash. These are cheques issued to you that offer you the safety and security you need
when on the move.
Unlike cash, if your travellers cheques are lost or stolen they can be replaced within
24 hours, virtually anywhere in the world by most banks, service establishments and even
by a large number of merchants. In fact, TCs are considered the safest form of currency.
In addition, they make it easier for you to budget, track and control your travel expenses.
Travellers cheques are recognised worldwide. In the U.S they can be used like cash
at retail locations, hotels and restaurants. Outside the U.S they can be used like cash at
many locations, or exchanged for local currency at banks, currency exchanges, and travel
service locations
Signature-based security
Easier for you to budget, track and control your travel expens
Foreign Currency
Websites.
Before leaving the PC please "close" the browser.
Do not write your ICICIBank.com login name or password
anywhere.
Do not leave your login name and password such that
someone sitting at your computer could see them.
Never reveal your ICICIBank.com login name and password to anyone (no
representative of ICICI Bank will ever ask you for your ICICIBank.com password).
Notify ICICI Bank immediately if you notice any unusual
account activity.
Keep all documents that include your account information in
a secure location.
When you login you can view the date and time of your last
log in
RESEARCH METHODOLOGY
Meaning of research
Research in common parlance refers to a search of knowledge. One can also define
research as a scientific & systematic search for pertinent information on a specific topic.
Infact, research is an art of scientific investigation. The advanced learner dictionary of
current nglish lays down the meaning of research as a careful investication as inquiry
especially through search for new facts in any branch of knowledge. Redman & Mory
define it as a systematic effort to gain knowledge.
RESEARCH DESIGN
A Research design is a framework or a blueprint for conducting the research project.
It specifies thedetails of the procedure necessary for obtaining the information needed to
structure or to solve the research problem.
The type of research design used by me is Qualitative research here I focused on the
understanding & expectations of the respondents. A major chunk of my research was
based on the conclusive research design.
Secondary source: the data in the secondary source is already published and is in the
form of government publication , census, personnel record, client history and service
records.
My source of data collection is also through the secondary data available from the site of
sbi & icici banks.
Primary data: the data which is not been published at all and is used by the researcher
the very first time is known as the primary data.
The major part of my project report is based on the primary data which I have collected
through the questionnaires & personal interviews from the respondents.
Sampling technique: I took the technique of random sampling as well as non random
sampling technique. In random sampling I did not asked the respondents that in which
bank do you have an account but in non random sampling I asked them that do they use
online banking and then I made them to fill the questionnaire.
Sample size: 50
DATA ANALYSIS
Fig: 1.1
COMMENT: In the above pie chart there are 38% of the respondents who use SBI
Bank online services & 35%f the respondents use ICICI Bank online services. The
respondents who use other online bank services are 27% which shows that there are more
customers of SBI Bank.
Fig: 1.2
COMMENT: From the above chart it is clear that the major part that is 76% is of easy
& quick which made people to go for e-banking. The least part i.e. 18% which is referred
by friends made people to go for e-banking.
Fig: 1.3
COMMENT: more than half of the people were aware of the e-banking services
provided by the bank.
Fig:1.4
COMMENT: There were 5 factors ( convience, easy to maintain bank transaction, low
service charge, safe & secure, better rates) out of which responends hasve to rank them
according to their importance. The chart above shows the ranking of the respondents.
Fig: 1.5
1
2
3
4
5
6
7
8
9
10
11
12
COMMENT: The most common transactions done by the people on net were
checking the current balance, paybills and seeking product rate information
Fig : 1.6
COMMENT: The average e-banking service rating of the banks were very good
(34%) that means that the customers are satisfied by their perspective banks.
Fig:1.7
COMMENT: The best e-bank service is of SBI Bank comprising the choice of 54%
individuals.
FINDINGS
1. In the users ratio SBI Bank has more number of customers of e-bank account than
the ICICI Bank.
2. More banks are connecting to the software companies to run the e-banking
service. In these services SBI Bank is in the top in proving the service.
3. The services used by most of the customers are checking the current balance of
there account, order a cheque book, and pay bills, online trading, seeking product
rate information and interaccount transfers.
4. Most of the people feel safe while disclosing there details on net.
5. The most important factor that the people consider while opening an online bank
account is convenience&easy and quick
6. The best e-bank service is provided by the SBI Bank.
RECOMMENDATIONS
1. The banks should advertise more of the e-banking services
2. They should reduce there service charge so that more number of customers can
use it.
3. ICICI Bank should know the reason that why its e-bank is not progressing.
4. There should be customer satisfaction by providing plans on e-banking services.
CONCLUSION
Atlast I want to conclude that the best e-banking service is provided by the SBI Bank
while comparing it with the ICICI Bank. That means the public sector bank is progressing
thanthe private sector bank. This is a great achievement for the bank and for the nation.
The respondents took keen interest in filling the questionnaires and made my research
fruitful. banks should also look for increasing there online services.
LIMITATIONS
1. Errors while making calculations are likely to creep in.
2. The biggest limitation is the time.
3. The respondents can be biased in supporting a particular Bank.
BIBLIOGRAPHY
BOOKS:
1. E-Banking in India
2. Money & Banking
Internet sites
1. www.sbibank.com
2. www.icicibank.com
3. www.wikipedia.com
4. www.ehow.com