A

STUDY ON CONSUMER’S PERCEPTION TOWARDS

NET BANKING SERVICES OF AXIS BANK

Submitted to:
CHITKARA BUSINESS SCHOOL
in partial fulfillment of the requirements for the award of degree of
Master of Business Administration

Submitted By: Supervised By:

Vikash Garg Dr. Babita Singla
Roll No. 1820982593 Associate Professor

CHITKARA BUSINESS SCHOOL

CHITKARA UNIVERSITY
2019

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 ONLINE COURSES

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 AXIS BANK

AXISB/HR/SlP/Punjab Circle/2019-20/

Date: 09-Aug-2019

CERTIFICATE OF COMPLETION

This is to certify that Mr. Vikash Garg has successfully completed Summer Internship with Axis
Bank at New Grain Market, Khanna Branch from 01-June-2019 to 30-Jul-2019.

He has submitted his project report on "A Study on Customer's Perception towards Net
Banking services of Axis Bank" and has added value through his work.

During the period of Internship with us, we found him proactive and sincere.

We wish him best wishes for all future endeavors!

Axis Bank Ltd Circle Office Plot No 149, First Floor Industrial Area Phase-I Chandigarh- 160002 0172-
4963000
REGISTERED OFFICE : "Trishul" - 3rd Floor Opp. Samartheswar Temple, Near Law Garden, Ellisbridge,
Ahmedabad - 380006. Telephone No. 079-26409322 Fax No. - 079-26409321 CIN.• L6511
OGJ1993PLC020769 Website www.axisbank.corn

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 DECLARATION

I, "Vikash Garg”, hereby declare that the work presented herein is genuine work done originally
by me and has not been published or submitted elsewhere. Any literature, data or work done by
others and cited in the report has been given due acknowledgement and listed in the reference
section.

Vikash Garg
1820982593
Date:

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 ACKNOWLEDGMENT

I am heartily thankful to all the persons who spared their valuable time and helped me a lot in
preparation of this project report. There are many people behind making of this report, without
their help and guidance, this report would never be made possible.

First, I would also like to express my sincere thanks to Dr. Sandhir Sharma, Dean, Chitkara
Business School for helping me who is inspite of being extra ordinarily busy with his duties,
took time out to hear, guide and keep me on the correct path and allowing me to carry out my
project and extending during the training.

I would like to express my sincere thanks to Mr. Suresh Markan (branch manager of Axis bank)
and our institution for giving me this golden opportunity for taking part in useful decision &
giving necessary advices and guidance and arranged all facilities to make life easier.

I am greatly thankful to my project guide Dr. Babita Singla, for giving me proper guidance and
cooperation for making this report more meaningful.

Finally, I am very much thankful to my parents and my friends for their support and valuable
help.

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 EXECUTIVE SUMMARY

MBA is a stepping-stone to the management carrier and to develop good manager it is

necessary that the theoretical must be supplemented with exposure to the real environment.
Theoretical knowledge just provides the base and it's not sufficient to produce a good
manager that' s why practical knowledge is needed.

In accordance with the requirement of MBA course I had summer training project in Retail
Banking department of AXIS Bank on the topic “A study on consumer’s perception
towards Net Banking services of Axis Bank”

The report gives an overview of the banking Sector and Axis Bank. And awareness of
customer’s satisfaction in public & private sector banks.

The methodology adopted for the study was through a structured questionnaire, which is targeted
to the different persons in Khanna. For this purposes sample size of 108 was taken. The data
collected from the different persons was analyzed thoroughly and presented in the form of charts
and tables.

Axis Bank must advertise regularly and create brand value for its products and services. Most of
its competitors like HDFC, ICICI and nationalized banks use television advertisements to
promote their products. The Indian consumer has a false perception about private banks – they
feel that it would not safe.

Safety and returns are the two main reasons people invest in banks. On the whole Axis bank is a
good place to work at. Every new recruit is provided with extensive training on the products of
Axis bank. This training enables an advisor/sales manager to market the policies better. The
company should try to create awareness about itself in India. With an improvement in the sales

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techniques used, a fair bit of advertising and modifications to the existing product portfolio, Axis
Bank would be all set to capture the banking market in India as it has around the globe.

TABLE OF CONTENT

Contents Pages
1. Industry Information 1
Banking sector 1
Growth of Banking sector 2
Banking sector in India 2
History of Banking in India 3
Schedule Banks in India 5
Functions of Commercial Bank 9
Negotiable Instrument Act 13
2. Introduction to Axis Bank 15
Background 16
Promoters 17
Vision and values 17
Core Values 17
Logo Design 17
Objectives of Axis Bank 18
Capital Structure 18
Distribution Network 19
Management 19
Technology 20
Business Description 21
Recent Development in Product Digitalisation 22
Board of Directors 26
Turnover 27
Awards and Achievements 27
Functioning of Departments 28
Human Resource Department 28
Marketing Department 30
Finance Department 32
SWOT Analysis 33
Introduction to Axis Bank (Khanna) 33
Mission and Vision 34
Organisation Structure 34
Functioning of Department 35
CHAPTER – 1
3. Introduction to the Study 36
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 Multiple Factors Influence Consumer Behaviour 36
Internet Banking 37
Advantages of Internet Banking for customers 38
Consumer Behaviour with Internet Banking 39
Background of Study 39

Problem Statement 39
Objective of Research 40
CHAPTER – 2
4. Literature Review 41
CHAPTER – 3
5. Research Methodology 43
Methods of Data Collection 44
Charts used for Data Analysis 46
CHAPTER – 4
6. Data Analysis and Interpretation 47
CHAPTER – 5
7. Finding and Suggestions 70
CHAPTER – 6
Conclusion 72
Limitations of the study 72
CHAPTER – 7
8. Details of actual work done 73
9. References 75
Journal Articles 75
Websites 76
10. Annexures 77
Questionnaire 77

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 LIST OF FIGURES

Sr. No. Contents Pages

1. Figure 1 5
2. Figure 2 9
3. Figure 3 14
4. Figure 4 22
5. Figure 5 25
6. Figure 6 34
7. Figure 7 36
8. Figure 8 38
9. Figure 9 47
10. Figure 10 48
11. Figure 11 49
12. Figure 12 50
13. Figure 13 51
14. Figure 14 52
15. Figure 15 53
16. Figure 16 54
17. Figure 17 55
18. Figure 18 56
19. Figure 19 57
20. Figure 20 58
21. Figure 21 59
22. Figure 22 60
23. Figure 23 61
24. Figure 24 62
25. Figure 25 63
26. Figure 26 64
27. Figure 27 65
28. Figure 28 66
29. Figure 29 67
30. Figure 30 68
31. Figure 31 69

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 LIST OF TABLES

Sr. No. Contents Pages

1. Table 1 16
2. Table 2 26
3. Table 3 47
4. Table 4 48
5. Table 5 49
6. Table 6 50
7. Table 7 51
8. Table 8 52
9. Table 9 53
10. Table 10 54
11. Table 11 55
12. Table 12 56
13. Table 13 57
14. Table 14 58
15. Table 15 59
16. Table 16 60
17. Table 17 61
18. Table 18 62
19. Table 19 63
20. Table 20 64
21. Table 21 65
22. Table 22 66
23. Table 23 67
24. Table 24 68
25. Table 25 69

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 INDUSTRY INFORMATION

BANKING SECTOR
A bank is a budgetary middle person and Money maker that makes Money by loaning cash
to a borrower. Loaning exercises can be performed straightforwardly by giving credit or by
implication through capital market. Capital market are monetary market for the purchasing
and offering of long haul obligation or value supported securities. These business sectors
channel the abundance of savers to the individuals who can put it to long haul beneficial
utilize, for example, organizations or governments influencing bug-to term speculations.
Monetary controllers, for example, the Securities and Exchange Board of India (SEBI) or

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U.S. Securities and Exchange Commission (SEC), direct the capital market in their wards
to ensure financial specialists against extortion, among different obligations. Because of the
significance in the monetary framework and impact on national economies, banks are very
directed in perch of nations either by National Government or Central Bank.

GROWTH OF BANKING SECTOR

In the cutting-edge sense, began in the most recent many years of the eighteenth century.
Among the principal banks were the Bank of Hindustan, which was set up in 1770 and sold
in 1829– 32; and the General Bank of India, set up in 1786 however flopped in 1791.

The biggest bank, and the most established still in presence, is the State Bank of India
(S.B.I). It began as the Bank of Calcutta in June 1806. In 1809, it was renamed as the Bank
of Bengal. This was one of the three banks established by an administration government, the
other two were the Bank of Bombay in 1840 and the Bank of Madras in 1843. The three
banks were converged in 1921 to frame the Imperial Bank of India, which upon India's
autonomy, turned into the State Bank of India in 1955. For a long time, the administration
banks had gone about as semi national banks, as did their successors, until the point when
the Reserve Bank of India was built up in 1935, under the Reserve Bank of India Act, 1934.

In 1960, the State Banks of India was given control of eight state-related banks under the
State Bank of India (Subsidiary Banks) Act, 1959. These are presently called its partner
banks. In 1969 the Indian government nationalized 14 noteworthy private banks, one of the
huge bank was Bank of India. In 1980, 6 more private banks were nationalized. These
nationalized banks are the lion's share of moneylenders in the Indian economy. They rule
the saving money division due to their substantial size and across the board organizes.

BANKING SECTOR IN INDIA

Banking means accepting the deposits from the customers for lending to the needy and
extending the other services as to issue of demand draft etc. Nowadays after introduction of
private sector banks the banks have become a profit centre and the functions become
changed and now banks are doing the insurance and mutual funds also. but nationalised
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banks are still service oriented in extending loans for Education loan, and rural
development activities.

A Bank is an organization which lends money to the borrowers for a purposeful task, and
provides a facility to deposit and withdraw money when needed and charge for it. As indicated
by the Reserve Bank of India (RBI), the managing an account division in India is sound,
satisfactorily capitalized and all around controlled. India is one of the main 10 economies
globally, with huge potential for the managing an account segment to develop. With the
possibility to wind up the fifth biggest saving money industry on the planet by 2020 and third
biggest by 2025, as per KPMG-CIN report, India's managing an account and facial segment is
extending quickly. The new standards of Reserve Bank of India's (RBI) will give incentives to
banks to spot potential terrible credits and make remedial strides that will check the acts of
unreliable borrowers

The Indian Banking industry is at present worth's. 81 trillion (US $ 1.31 trillion) and banks are
presently using the most recent technologies like internet and cell phones to complete exchanges
and communicate with the majority.

HISTORY OF BANKING IN INDIA

Phase I

The General Bank of India was set up in the year 1786. Next came Bank of Hindustan and
Bengal Bank. The East India Company established Bank of Bengal (1809), Bank of Bombay
(1840) and Bank of Madras (1843) as independent units and called it Presidency Banks. These
three banks were amalgamated in 1920 and Imperial Bank of India was established which started
as private shareholder banks, mostly Europeans shareholders.
In 1865 Allahabad Bank was established and first time exclusively by Indians, Punjab National
Bank Ltd. was set up in 1894 with headquarters at Lahore. Between 1906 and 1913, Bank of
India, Central Bank of India, Bank of Baroda, Canara Bank, Indian Bank, and Bank of Mysore
were set up. Reserve Bank of India came in 1935.
During the first phase the growth was very slow and banks also experienced periodic failures
between 1913 and 1948. There were approximately 1100 banks, mostly small. To streamline the
functioning and activities of commercial banks, the Government of India came up with The
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Banking Companies Act, 1949 which was later changed to Banking Regulation Act 1949 as per
amending Act of 1965 (Act No. 23 of 1965). Reserve Bank of India was vested with extensive
powers for the supervision of banking in India as the Banking Authority.
During those days a public has lesser confidence in the banks. As an aftermath deposit
mobilization was slow. Abreast of it the savings bank facility provided by the Postal department
was comparatively safer. Moreover, funds were largely given to traders.

Phase II

Government took major steps in this Indian Banking Sector Reform after independence. In 1955,
it nationalized Imperial Bank of India with extensive banking facilities on a large scale especially
in rural and semi-urban areas. It formed State Bank of India to act as the principal agent of RBI
and to handle banking transactions of the Union and State Governments all over the country.
Seven banks forming subsidiary of State Bank of India was nationalized in 1960 on 19th July,
1969, major process of nationalization was carried out. It was the effort of the then Prime
Minister of India, Mrs. Indira Gandhi. 14 major commercial banks in the country were
nationalized.
Second phase of nationalization Indian Banking Sector Reform was carried out in 1980 with
seven more banks. This step brought 80% of the banking segment in India under Government
ownership.

The following are the steps taken by the Government of India to Regulate Banking Institutions in
the Country:

1949: Enactment of Banking Regulation Act.

1955: Nationalization of State Bank of India.
1959: Nationalization of SBI subsidiaries.
1961: Insurance cover extended to deposits.
1969: Nationalization of 14 major banks.
1971: Creation of credit guarantee corporation.
1975: Creation of regional rural banks.
1980: Nationalization of seven banks with deposits over 200 crores.
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After the nationalization of banks, the branches of the public sector bank India rose to
approximately 800% in deposits and advances took a huge jump by 11,000%.
Banking in the sunshine of Government ownership gave the public implicit faith and immense
confidence about the sustainability of these institutions.

Phase III

This phase has introduced many more products and facilities in the banking sector in its reforms
measure. In 1991, under the chairmanship of M Narasimham, a committee was set up by his
name which worked for the liberalization of banking practices.
The country is flooded with foreign banks and their ATM stations. Efforts are being put to give a
satisfactory service to customers. Phone banking and net banking is introduced. The entire
system became more convenient and swift. Time is given more importance than money.
The financial system of India has shown a great deal of resilience. It is sheltered from any crisis
triggered by any external macroeconomics shock as other East Asian Countries suffered. This is
all due to a flexible exchange rate regime, the foreign reserves are high, the capital account is not
yet fully convertible, and banks and their customers have limited foreign exchange exposure.

Schedule Banks in India

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 Figure No. - 1

I. Schedule Commercial Bank:

It operates for profit. It accepts deposits from the public and extends loans to the households,
the firms and the government. The essential characteristics of commercial banking are as
follows:

Acceptance of deposits from public.

For lending or investment
Repayable on demand or lending or investment
Withdrawal by means of an instrument, whether a cheque or otherwise.

i PUBLIC SECTOR BANKS:

Public Sector Banks (PSBs) are those banks where majority of stakes fi with the
Government. All these PSBs are listed on stock exchanges. Central Government entered
banking industry with the nationalization of Imperial Bank of India in 1955, then in 1969 the
14 major banks were nationalized and in 1980 4 more bank were nationalized.

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 To Name a few PSBs: State Bank of India and is subsidiaries, Bank of India, Bank of
Baroda, Bhartiya Mahila Bank, Central Bank of India, etc.

The objectives behind nationalization where:

To break the ownership and control of banks by a few businesses.

To prevent the concentration of wealth and economic power.
To mobilize savings from masses from all parts of the country.
To cater to the needs of the priority sectors.

ii PRIVATE SECTOR BANKS:

Private Sector Banks in India is made up of private and public banks. But the greater part of
stake is in the hand of private shareholders and not with the Government. In 1969 all major
banks were nationalized by the Indian government. However, since a change in government
policy in the 1990s, old and new private sector banks have re-emerged. The Private sector
Banks are split into two groups by Financial regulators in India, old and new. The old private
sector banks existed prior to nationalization in 1968 and kept their independence because
they were either too small or specialist to be included in nationalization. The new private
sector banks are those that have gained their banking license since the change of policy in the
1990s.

The Nedungadi Bank was the first private sector bank in India, founded in 1899 by Rao
Bahadur T.M. Appu Nedungadi in Kozhikode, Kerala.

Old Private Banks- These are those banks which were not nationalized during the process in
1969 and 1980 due to the smaller scale or regional reach only.

Example: Catholic Syrian Bank, Federal Bank, City Union Bank, Karur Vysya Bank,
Dhanlaxmi Bank etc.

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 New Private Banks- These are the banks which came into operations afire the liberalization
in 1990s. Banking Regulation were amended in 1993 so that new private banks can enter the
Indian Banking industry.

Example: ICICI Bank, AXIS Bank, HDFC Bank, Yes Bank, Development Credit Bank,
Kotak Mahindra Bank, IDBI Bank, etc.

But there were certain criteria for the establishment of new private banks which are as
follow: -

Bank should have minimum net worth of Rs 200 Cr.

Proprietors should hold a minimum of 25% of paid-up capital

Within 3 years of the starting of the operations, the bank should offer shares to
public and their net worth rust increase to 300 Cr.

iii FOREIGN BANKS:

With the globalization hitting the world, the concept of banking has changed
substantially. The concept of Foreign Banks has changed the prevailing banking
scenario in India. Banking is now crore of crore customer-friendly, modern technology
have been implemented like mobile banking, mobile application of banks, etc.

Example: HSBC Bank, J.P. Morgan Chase Bank, Deutsche bank, Standard Charter
Bank, etc.

iv REGIONAL RURAL BANKS:

Regional Rural Banks (RRBs) were started in 1970 since even afire the nationalization,
there were cultural issues related to lending to the farmers. The main purpose of RRBs
is to mobilize financial resources from rural-semi-urban areas and grants loans and
advances mostly to small and marginal farmers, agricultural labors, etc.

Example: Karnataka Vikas Grameena Bank, Maharashtra Gramin Bank, etc.

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 II. SCHEDULE CO-OPERATIVE BANK:

Larger visit unions are often called cooperative banks. Like credit unions, cooperative
banks are owned by their customers and follow the cooperative principle of one person,
one vote.

Unlike credit unions, however, cooperative banks are often regulated under both
banking and cooperative legislation. They provide services such as savings and loans to
non-reefers swell as to reefers, and some participate in the wholesale market for hands,
Money and even equities.

i. URBAN CO-OPERATIVE BANKS:

Urban Co-operative Banks are giving banking facility y to grass root persons. As Urban
Cooperative Banks are mostly working in the rural and semi-urban areas they
understand the genuine commercial needs of the local population in their area of
operation Urban Cooperative Banks help small and medium sized traders,
entrepreneurs, artisans and farmers who are deprived of banking facility as private
sector and commercial banks tap only high profile and successful entrepreneurs.

Example: Ahmedabad Mercantile Co-Op Bank, Kakapo Curreri l Coop. Bank, Burrata
Mercantile Co-operative Bank, Saraswat Co-operative Bank, etc.

ii. RURAL CO-OPERATIVE BANKS:

The rural cooperatives are further divided into short-term and long-term structure. The
short term cooperative banks are three tired operating in different states.

FUNCTIONS OF COMMERCIAL BANKS

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 Figure No. 2

PRIMARY FUNCTIONS:

I. Accepting of Deposits: A bank accepts deposits from the public. People can deposit their
cash balances in either of the following accounts to their convenience:

Fixed or Time Deposit Account: Cash is deposited in this account for a fixed period. The
depositor gets receipts for the amount deposited. It is called Fixed Deposit Receipt. The
receipt indicates the name of the depositor, amount of deposit, rate of interest and the period
of deposit. This receipt is not transferable. If the depositor stands in need of the amount before
the expiry of fixed period, he can withdraw the same after paying the discount to the bank.
Savings Account: This type of deposit suits to those who just want to keep their small
savings in a bank and might need to withdraw them occasionally. Banks provide a certain rate
of interest on the minimum balance kept by the depositor during the month.
Current Account: This type of account is kept by the businessman who are required to
withdraw money every new and then. Banks do not pay any interest on this account. Any sum
or any number of withdrawals can be presented by such an account holder.
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 II. Advancing of Loans: The bank advances money in any one of the following ways:

Overdraft Facilities: Customers of good trading are allowed to overdraw from their current
account. But they have to pay interest on extra amount they have withdrawn. Overdrafts are
allowed to provide temporary accommodation since the extra amount withdrawn is payable
within a short period.
Money at Call: It is the money lent for a very short period varying from 1 to 14 days. Such
advances are usually made to other banks and financial institutions only. Money at call
ensures liquidity. In the Interbank market it enables bank to make adjustment according to
their liquidity requirements.
Loans: Loans are granted by the banks on securities which can be easily disposed off in the
market. When the bank has satisfied itself regarding the soundness of the party, a loan is
advanced.
Cash Credit: The Debtor is allowed to withdraw a certain amount on a given security. The
debtor withdraws the amount within this limit, interest is charged by the bank on the amount
actually withdrawn.
Discounting Bill of Exchange: It is another method of making advances by the banks.
Under this method, bank give advance to their clients on the basis of their bills of exchange
before the maturity of such bills.
Investment in Government Securities: Purchasing of government securities by the banks
tantamount to advancing loans by them to the Government. Banks prefer to buy government
securities as these are considered to be the safest investment. For example: Indira Vikas
Patra. It enables the banks to meet requirement of statutory liquidity ratio (SLR).

III. Credit Creation: One of the main functions of banks these days is to create credit. Banks
create credit by giving more loans than their cash reserves. Banks are able to create credit
because the demand deposits i.e. a claim against the bank is accepted by the public in

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 settlement of their debts. In this process the bank creates money. For this reasons Prof. Sayers
has called bank “the manufactures of money.”

IV. Cheque system of Payment of Funds: A cheque, a negotiable instrument, which in fact is a
bill of exchange, drawn upon a banker, is the most popular credit instrument used by the client
to make payments. Cheque system is the main credit instrument in the banking world.
Although a cheque is not a legal tender money, the serves as a medium of exchange in a
limited way as it is a negotiable instrument. Because of “clearing houses” and “clearing”
operations of the banks, cheques can be and are used for transferring funds from one centre to
another. In the modern days they can also be used for transferring funds from one country to
another.

SECONDARY FUNCTIONS

Besides the above primary functions, banks also perform may secondary functions such as agency
functions, general utility and social functions.

I. Agency Functions: Banks act as agents to their customers in different ways:

Collection and Payment of Credit and Other Instruments: The Commercial banks collect
and pay cheques, bills of exchange, promissory notes, rent, interest etc. On behalf of their
customers and also make payments of income tax, fees, insurance premium etc. on behalf of
the customers. Customers can leave standing instructions with the banker for various periodic
payments ensuring the regular payments and avoiding the trouble of performing it
themselves.
Purchase and Sale of Securities: The modern commercial banks also undertake the
purchase and sale of various securities like shares, stocks, bonds units and debentures etc. On
behalf of the customers, banks do not give any advice regarding the suitability or otherwise
of a security but simply perform the functions of a broker.

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 Trustee and Executor: Banks also acts as trustees and executors of the property of their
customers on their advice. Sometimes banks also undertake income tax services on behalf of
the customers.
Remittance of Funds: The Commercial banks remit funds on behalf of clients from one
place to another through cheques, drafts, mail transfers etc.
Representation and Correspondence: Sometimes commercial banks acts as representatives
or correspondents of the clients especially in handling various applications. For instance,
passports and travel tickets, booking of vehicles, plots etc.
Billion Trading: In many countries, the commercial banks trade is billions like gold and
silver. In Oct 1997, 8 banks including SBI, IOB, Canara Bank and Allahabad Bank have
been allowed import of gold which has been put under open general licensed category.
Purchase and Sale of Foreign Exchange: Banks buy and sell foreign exchange, promoting
international trade. This function is mainly discharged by foreign Exchange Banks.
Letter of References: Banks also give information about economic position of their
customers to domestic and foreign traders and vice versa.

II. General Utility Services: In addition to agency services, banks render many more utility
services to the public. These services are:

Locker Facilities: Banks provide locker facilities to their customers. People can keep their
valuables or important documents in these lockers. Their annual rent is very nominal.
Acting as a referee: It desired by the customers, the bank can be a referee i.e. who could be
referred by the third parties for seeking information regarding the financial position of the
customers. The bank will act as referee only and only if it is desired by the customer,
otherwise the secrecy of a customers is account is maintained very carefully.
Issuing letters of credit: Bankers in a way by issuing letters of credit certify the credit
worthiness of the customers. Letters of credit are very popular in foreign trade.
Acting as Underwriters: Banks also underwrite the securities issued by the Government
and Corporate bodies for a commission. The name of bank as an underwriter encouraged
investors to have faith in the security.
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 Acting as information banks: Commercial banks also acts as “information” bureau as they
collect the financial, economic and statistical data relating to industry, trade and commerce.
HDFC Bank is providing information relating to NRI Schemes and commentaries of experts
on development in the areas of finance through Internet.
Issuing Traveler’s cheques and credit cards: Banks have been rendering great service by
issuing traveler’s cheques, which enable a person to travel without fear of theft or loss of
money. Now, some banks have started credit card system under which a credit card holder is
allowed to avail credit from the listed outlets without any additional cost or effort. Thus,
credit card holder need not carry or handle cash all the time. Now, international credit cards
are joining hands with Indian Banks.
Issuing of gift cheques: Certain banks issue gift cheques of various denominations, e.g.
Some Indian banks issue gift cheques of the denominations of Rs. 21, 31, 51 and 101 etc.
They are generally issued free of charge.
Dealing in Foreign Exchange: Major branches of commercial banks also transact business
of foreign exchange. Commercial banks are the main authorized dealers of foreign exchange
in India.
Merchant banking Services: Commercial banks also render merchant banking services to
the customers. They help in availing loans from non-banking financial institutions.
Help in Transportation of Goods: Big businessmen or industrialists after consigning
goods to their retailers send the Railway Receipt (Consignment Note) to the bank.

NEGOTIABLE INSTRUMENT ACT:

This is an act to define and lay down the law relating to Promissory Notes, Bills of Exchange or
Cheques payable either to bearer or to order.

This act operates subject to the provisions of Sections 31 and 32 of the Reserve Bank of
India Act, 1934. Section 31 of the Reserve Bank of India Act provides that no person in
India other than the RBI or as expressly authorized by this Act, the Central Government
shell draw, accept, make or issue any bill of exchange, hundi, promissory note or
engagement for the payment of Money payable to bearer on demand.
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TYPES OF NEGOTIABLE INSTRUMENT ARE:

Figure No. 3

Promissory Note: It is an instrument in writing (not being a bank-note or a currency note)

containing an unconditional undertaking, signed by the maker, to pay a certain sum of Money
only to, or to the order of, a certain person or to the bearer of the instrument.

Bill of Exchange: A bill of exchange is an instrument in writing containing an unconditional

order, signed by the maker, directing a certain person to pay a certain sum of Money only to, or
to the order of, a certain person or to the bearer of the instrument.

Cheque: It is bill of exchange drawn on a specified banker and not expressed to be payable
otherwise than on demand and it includes the electronic image of a truncated cheque and a
cheque in the electronic form.

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 INTRODUCTION TO AXIS BANK

Axis Bank Ltd., the first bank to begin operations as new private banks in 1994 afire the
Government of India allowed new private banks to be established. Axis Bank was jointly
promoted by the Administrator of the specified undertaking:

Unit Trust of India (UTI-1)

Life Insurance Corporation of India (LIC)
General Insurance Corporation Ltd.

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Additionally, with associates National Insurance Company Ltd., The New India Assurance
Company, The Oriental Insurance Corporation and United Insurance Company Ltd.

Hub Bank is the third biggest private part bank in India. Pivot Bank offers the entire range of
money related administrations to client portions covering Large and Mid-Corporates, MSME,
Agriculture and Retail Businesses. The Bank has a substantial impression of 3703 branches and
13,814 ATMs spread over the province as on 12 Aug 2016 which is the biggest ATM organize in
nation among Private Sector Banks in India. The abroad tasks of the Bank are spread over its
seven worldwide workplaces with branches at Singapore, Hong Kong, DIFC (Dubai
International Financial Center), Colombo and Shanghai and delegate workplaces at Dubai and
Abu Dhar.

With an accounting report size of 6,91,330/ - Cr. as on 31st March 2018, Axis Bank has
accomplished steady development and stable resource quality with a 5-year CAGR (2012-13 to
2017-18) of 15% in Total Assets, 12% in Total Deposits, 17% in Total Advances.

The most recent contributions of the bank alongside Dollar Varian is the Euro and Pound
Sterling variations of the International Travel Currency Card (TCDC Card). The Travel
Currency Card is a mark based prepaid travel card which empowers traveler's global access
to their Money in neighborhood cash of the meeting province in a sheltered and helpful
way. The Bank has qualities in both retail and corporate managing an account and is
focused on embracing the best business rehearses internationally in request to accomplish
perfection.

March 2016 March 2017 March 2018 March 2019

Branches 2,904 3,304 3,703 4,050
ATM’s 12,743 14,163 13,814 11,801
Table No. 1

BACKGROUND

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Axis Bank is the third largest private sector bank in India. The Bank offers the entire
spectrum of financial services to customer segments covering Large and Mid-Corporates,
MSME, Agriculture and Retail Businesses.

The Bank has a large footprint of 4,050 domestic branches (including extension counters)
with 11,801 ATMs & 4,917 cash recyclers spread across the country as on 31st March,
2019. The overseas operations of the Bank are spread over nine international offices with
branches at Singapore, Hong Kong, Dubai (at the DIFC), Colombo and Shanghai;
representative offices at Dhaka, Dubai, Abu Dhabi and an overseas subsidiary at London,
UK. The international offices focus on corporate lending, trade finance, syndication,
investment banking and liability businesses.

With a balance sheet size of Rs. 8,00,997 crores as on 31st March 2019, Axis Bank has achieved
consistent growth and with a 5 year CAGR (2013-14 to 2018-19) of 16% in Total Assets, 14% in
Total Deposits, 17% in Total Advances.

PROMOTERS

Axis Bank is one of the first new generation private sector banks to have begun operations
in 1994. The Bank was promoted in 1993, jointly by Specified Undertaking of Unit Trust
of India (SUUTI) (then known as Unit Trust of India), Life Insurance Corporation of India
(LIC), General Insurance Corporation of India (GIC), National Insurance Company Ltd.,
The New India Assurance Company Ltd., The Oriental Insurance Company Ltd. and
United India Insurance Company Ltd. The shareholding of Unit Trust of India was
subsequently transferred to SUUTI, an entity established in 2003.

VISION & VALUES:

To be the preferred financial solutions provider exceling in customer delivery through

insight, empowered enrobes and snort use of technology.

CORE VALUES: -

Customer Centricity
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 Ethics
Transparency
Teamwork
Ownership

LOGO DESIGN:

The logo design of Axis Bank is based on the letter ‘A’. It is a contemporary, universal and solid
design that retains the burgundy color of the original UTI logo as a link to its heritage.

OBJECTIVES OF AXIS BANK

The objective of the policy is to establish a system whereby the Bank compensates the customer

for the financial loss he/she could incur due to deficiency in service on the part of the Bank or
any act of omission or commission directly attributable to it.

There are certain key points:

Consumer awareness about the products and services provided by the axis bank.
Consumer preference about various products and services.
Customer satisfaction with the service provided by the bank.
Draw out with the conclusions and Suggestion based on the analysis and the interpretation of
data.

CAPITAL STRUCTURE

The Bank has authorized share capital of Rs. 850 crores comprising 4,250,000,000 equity shares
of Rs.2/- each. As on 31st March 2018, the Bank has issued, subscribed and paid-up equity
capital of Rs. 513.31 crores, constituting 2,56,65,38,936 equity shares of Rs.2/- each. The Bank’s
shares are listed on the National Stock Exchange of India Limited and the BSE Limited. The
GDRs issued by the Bank are listed on the London Stock Exchange (LSE). The Bonds issued by
the Bank under the MTN Program are listed on the Singapore Stock Exchange.

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Since the financial year 2000-01, the Bank has formulated and adopted several Employee Stock
Option Schemes (ESOS) for the benefit of the eligible Directors/Employees of the Bank and that
of its subsidiary companies, in terms of the Securities and Exchange Board of India (Employee
Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999/ Securities and
Exchange Board of India (Share Based Employee Benefits) Regulations, 2014, as amended, from
time to time. The objective of the said ESOS is to enhance employee motivation, enable
employees to participate, directly or indirectly, in the long-term growth and financial success of
the Bank, to act as a retention mechanism by enabling employee participation in the business of
the Bank as its active stakeholder and to usher an ‘owner-manager’ culture.

The said equity shares alloted pursuant to exercise of options under various Employee Stock
Options Schemes (ESOPs) of the Bank ranks pari pasu.

The said equity shares are listed on the National Stock Exchange of India Limited (NSE) and the
BSE Limited (BSE).

The Global Depository Reciept (GDR) issued by the Bank are listed on the London Stock
Exchange.

DISTRIBUTION NETWORK
The Bank has a large footprint of 4,050 domestic branches (including extension counters) with
11,801 ATMs & 4,917 cash recyclers spread across the country as on 31st March, 2019. The
overseas operations of the Bank are spread over nine international offices with branches at
Singapore, Hong Kong, Dubai (at the DIFC), Colombo and Shanghai; representative offices at
Dhaka, Dubai, Abu Dhabi and an overseas subsidiary at London, UK. The international offices
focus on corporate lending, trade finance, syndication, investment banking and liability
businesses.

MANAGEMENT

Mr. Amitabh Chaudhry is the Managing Director and Chief Executive Officer of Axis Bank. He
joined the bank in January 2019, after successfully leading HDFC Life for nine years. Under his

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leadership, HDFC Life emerged as the finest brand in the insurance space and is today one of
India’s largest private life insurers.
Prior to HDFC Life, Mr. Chaudhry was the Managing Director and CEO of Infosys BPO and the
Head of testing unit of Infosys Technologies Ltd. He was instrumental in building the BPO right
from its inception and was later credited for making it an extremely profitable business having
presence across seven countries. He started his career with Bank of America in 1987 and played
diverse roles such as Head of Technology Investment Banking for Asia, Regional Finance Head
for Wholesale Banking and Global Markets, and Chief Finance Officer of Bank of America
(India). He moved to Credit Lyonnais Securities in 2001 as the Head of Investment Banking
franchise for South East Asia and successfully structured the finance practice for Asia before
joining Infosys BPO in 2003.
Mr. Chaudhry is an Engineer from Birla Institute of Technology and Science, Pilani and Post
Graduate in Business Management from IIM, Ahmedabad.
Senior banking professionals with substantial experience in India and abroad head various
businesses and functions and report to the Managing Director. Given the professional expertise
of the management team and the overall focus on recruiting and retaining the best talent in the
industry, the bank believes that its people are a significant competitive strength.
TECHNOLOGY

Axis Bank is the first bank in India to offer contactless Multicurrency Forex Cards to Indian
travelers enabling faster and more convenient transactions while abroad. The
same technology has also been extended to the Bank's Debit and Credit card platforms.

Speed and availability are two key ingredients for a successful digital operation. Thus we are
constantly upgrading our hardware, so that systems are available 24×7. The failsafe mechanisms
are in place for mission critical applications. Secondly, we are investing in tools that allow us to
ascertain where customers are dropping off in various journeys within their app. These analytical
tools are coded to strip information on whether the issue is on the bank’s side or in the
customer’s device. This helps in taking remedial action.

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Branch was the only channel of communication between the customer and the bank, during the
initial days of banking. However, over the years, many more have been added. Bots are the latest
communication tool and they empower the customer to do a lot more than what was possible
with the initial communication channels. In the last few years, banks – with the emergence of the
UI, UX, design thinking – have started investing in how they can ease the friction which exists in
the customers using the banking services.

Digital is playing an important role in making this possible. For example, the most frequently
used banking services include bill payments, balance check, fund transfers and at the most
investments in MFs, etc. We focus on how we can ease them in the best possible way.

The next phase of digital banking will be, with the power of data, in guiding the customer in how
can he use the best options available in the market for achieving his objectives. For instance,
after checking the balance, the customer would ask how can he use the money in the best
possible way and maybe the bank can advise to open an FD or to target more food related offers
to those who are spending more on food.

BUSINESS DESCRIPTION:

AXIS Bank operates in vary segments such as Treasury Operations, Retail Banking,
Corporate/Wholesale Banking and Other Banking Activities.

Retail banking: In the retail banking category, the bank offers Current Accounts and Saving
Accounts product, card serves, Internet banking, amounted teller machines (ATM) services,
depository, financial advisory services, and Non-resident Indian (NRI) services.

Corporate/wholesale banking: The Bank offers to corporates and other organizations services
including corporate relationship not included under retail banking, corporate advisory services,
project appraisals, capital market related services and cash management services.

Investment banking: Bank’s Investment Banking business comprises activities related to Equity
Capital Markets, Mergers and Acquisitions and Private Equity Advisory. The bank is a SEBI-

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registered Category I Merchant Banker and has been active in advising Indian companies in
raising equity through IPOs, QIPs, and Rights issues etc. During the fiscal year ended 31 March
2012, Axis Bank undertook 9 transactions include in 5 IPOs and 2 Open offers.

NRI services: Bank provides products and services for NRIs that includes CASA, facilitate
investments in India. Axis bank is the first Indian Bank having TCDC cards in 11 currencies.

Micro Finance: Axis Bank SME business is segmented in three groups: Small Enterprises,
Medium Enterprises and Supply Chain Finance. Bank offers lending to individuals/sma11
businesses subject to the Orientation Under the Small Business Group a subgroup for financing
micro enterprises is also set up.

Agri-Finance: Banks provide various accounts, loans on various products, etc. to farers. Total
759 branches of the bank provide banking services, including in Agricultural loans, to the
farmers.

Krishi saving accounts

Kisan power
Tractor loans
Go down loans

AXIS Group:

AXIS Bank set-up fully owned 8 subsidiaries which are:

Axis capital ltd.

Axis finance ltd.
Axis mutual funds trustee ltd.
Axis asset management company ltd.
Axis private equity ltd.
Axis trustee services ltd.
Axis bank UK ltd.

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 Axis securities ltd.

RECENT DEVELOPMENT IN PRODUCT DIGITALIZATION

Axis Mobile

Figure No. 4

Axis Bank has launched Axis Mobile, a mobile app that allows users to instantly transfer money
to any contact in their phonebook 24 hours a day, seven days a week. One of the active features
related to Axis Bank Mobile Banking is SMS alerts. Every credit or debit transaction from your
account is confirmed to you through an SMS sent on your registered mobile number. It serves as
a best measure to detect any sort of unauthorized entry to your account.

Security-Information about debit and credit action beyond a certain value is informed
immediately to the customer. Therefore, stay aware of account transactions happening
anywhere across the globe.
Time Saving: No need to stand in queues for checking your account status.
Updates: Receive automatic updates connected to bill payments as well as scheduled
payments directly on your mobile phone.
Accessibility: Access this facility from anywhere in the world.

Fund Transfer Modes by Axis Bank Mobile Banking

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At present, there are various modes to transfer funds using Axis Bank mobile banking service.
These are:

NEFT: National Electronic Fund Transfer or NEFT system is accessible to all Axis Bank
account holders. This particular mode of electronic fund transferred functions on the DNS
basis managed at specific times during the day. Under this system, the transactions are
processed between banks via payment instructions.
RTGS: Real Time Gross Settlement, popular called RTGS is a special system where funds
can be transferred in real-time basis. It is also regarded as a gross settlement since the funds
are processed discretely as per requested instructions. At present, RTGS is seen as the fastest
medium for interbank fund transfer in the nation.
IMPS: Immediate Payment Service is a famous electronic money transfer scheme. It is used
for handling interbank transactions. You can avail this service using your Axis Bank mobile
banking app. Moreover, this service is also accessible via ATM, internet banking etc. Axis
Bank offers IMPS facility to those customers who are already registered for handling online
Axis Bank services.

Axis Bank Mobile Banking Advantages

The mobile banking service offered by Axis Bank gives you the benefit of controlling
banking activities anytime using your smartphone.
This service is available to all Axis Bank customers who have an operating savings or current
bank account.
This mobile banking service is completely free of charges.
One need not register with a specific telecommunication provider for accessing mobile
banking; this service is accessible across all providers.
In the near future, there are plans that Axis Bank might add new services such as train
tickets, movie tickets and even air tickets through the mobile banking service.

Security Dealings with Axis Bank Mobile Banking

There are certain security measures which should be taken into consideration when operating the
mobile banking service handled by Axis Bank:
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If your phone is stolen, you need not panic as your account is safe. This is because no
information is saved either on your phone or SIM. Do not forget to call the customer service and
report about the event. Also, ask them to deactivate your IPIN.

Suppose you have entered a wrong IPIN several times; in this case, Axis Bank would block the
pin.

Axis Bank Mobile Banking: Methods & Regulations

Below mentioned are the important methods and regulations associated with the use of Axis
Bank mobile banking service:

Methods:

For customers, it is advisable that your mobile phone should be secured with the help of a
unique password, which is only preserved by you.
Try to select a strong password with a perfect combination of special characters and
alphanumeric.

Make sure to change your password on a timely basis; this is a preferred security method.
If your phone is misplaced or stolen, do not forget to report the event to the bank.

Regulations:

Make sure to enter the correct details while making transactions using mobile banking.
Furthermore, try to keep all the confidential information private. Do not entertain websites
that ask you to enter your credentials. Only feed this data on the bank’s official app.
Avoid sharing banking information on your mobile phone.
If you have changed your mobile number, directly pass on this information to the bank for
making necessary changes.

MISSED CALL BANKING

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 Figure No. 5
AXIS Bank’s missed call service offers instant access to Account Information with just a miss
call. With toll-free AXIS dial feature, you can know your account balance, mini statement and
you can recharge your mobile number with just a missed call from your registered Indian mobile
number. Missed call service with Axis is easy, secure, rapid, hassle-free and completely toll-free.
The missed call service works without an Internet connection and is available in both languages-
Hindi and English.

You must be registered for SMS banking services.

Few benefits of the service are:

Service works without internet and independent of Mobile Handset

Service is available to you without any charges

How to Use Missed call service

Dial 1800 419 5959 to get your Account Balance

Dial 1800 419 6969 to get your Mini Statement

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Dial 1800 419 5858 to get your Account Balance in hindi

Dial 1800 419 6868 to get your Mini Statement in hindi

Dial 08049336262 to recharge your mobile instantly

In order to activate mobile recharge service through miss call (one time activity), type ACT and
send to 5676782, e.g. ACT 123456 Airtel. After activation, you can give missed call from
registered mobile no. and you phone will be recharged.

BOARD OF DIRECTORS OF AXIS BANK:

DESIGNATION NAME
Chairman Dr. Sanjiv Misra
MD & CEO Amitabh Chaudhry
Director Samir K. Barua
Director Som Mittal
Director Rohit Bhagat
Director Usha Sangwan
Director S. Vishvanathan
Director Rakesh Makhija
Director Ketki Bhagwati
Director B. Babu Rao
Director Stephen Pagliuca
Director Girish Paranjpe
Executive Director (Wholesale Banking) Rajiv Anand
Executive Director Rajesh Dahiya
Table No. 2

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TURNOVER

Turnover of Axis Bank is Rs. 800,997 crore (US$120 billion) of total assets.

AWARDS & ACHIEVEMENTS

Axis Bank has won Best Debt Payments & Arranger at the NSE Market Achievers Awards
Axis Bank win a Best Debt Arranger on Electronic Bidding Platform at the NSE Market
Achievers Awards
Axis Bank wins the Best Loyalty Program in Financial Sector - Banking at the Customer
Loyalty Awards 2018
Axis Bank wins the Best Rewards Program for the 4th consecutive year at the Customer
Loyalty Awards 2018

Axis wins the Champion of Champions – Loyalty Program of the Year at the Customer
Loyalty Awards 2018
Axis Bank wins the Best Contact Centre at the Customer Experience Awards 2018
Axis Bank win a Best Use of Analytics for Business Outcome at the IBA Banking
Technology Awards 2018
Axis Bank win a Best Use of Digital and Channels Technology at the IBA Banking
Technology Awards 2018
Axis Bank won the Best Performing Bank – Private at the UTI Mutual Fund and CNBC
TV18 Financial Advisor Awards 2017-18
Axis Bank has been awarded as the Second Best Performing Private Bank in APY for FY 17-
18
Axis Bank has won for the Best Contactless Payments Project of the Year at the 6th edition
of Payments & Cards Summit & Awards
Axis Bank has won the Best Prepaid card of the Year at the 6th edition of Payments & Cards
Summit & Awards

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FUNCTIONING OF DEPARTMENTS:

HUMAN RESOURCE DEPARTMENT

"Human Resource Management work that enables administrators to enroll, select, prepare
and create individuals for an association. Clearly, HRM is worried about the general
population's measurement in associations.

Work power of an Organization is a standout amongst the most imperative contributions of

segments. It is said that individuals are our single most critical resources. Because of the
interesting significance of HUMAN RESOURCE and its multifaceted nature because of
consistently evolving brain science, conduct and demeanors of people at work, in all
business censures, there is one regular component. I.e. Human staff work, i.e., labor
administration work is winding up progressively specific. The staff capacity or framework
can be extensively characterized as the administration of individuals at work administration
of administrators and administration of specialists. Work force work is especially inspired
by faculty relationship and communication of representative human relations.

It might be said, administration is work force organization. Administration is the

advancement of individuals, and not minor heading of material assets. Human capital is the
best resource of a business undertaking. The fundamental element of administration is the
authority and course of individuals. Every director of individuals must be his own staff
man.
Faculty administration isn't something you truly swing over to work force office staff.

Human Resource Planning: This is taken care of by doing the arranging toward the start of
consistently. Toward the finish of the year, the Human Resource division from each Branch
gets the necessity for the individual for entire year. At that point the arranging of enrollment
and preparing is finished via preparing chief and enlisting director which is endorsed from
Head for Department.
Recruitment: Enrollment is a procedure of scanning for imminent possibility for the given
employment in the business. As we probably are aware it is imperative for a mechanical
worry to have productive and powerful staff with right quality and at opportune time and at
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 perfect place accessible at whatever point they are required. Each association needs worker
time by time in view of advancement or retirement of a representative. For this reason, an
association need to look for the correct competitor. Thus, it needs to energize this kind of
right applicants at whatever point they require.
Training and Development: Preparing goes for expanding the aptitudes, aptitudes and
capacities of specialists to perform employment. It makes representatives more successful
and handy. In exhibit dynamic universe of business preparing is more vital there is an ever-
display requirement for preparing men. With the goal that new and changed systems might
be embraced. Another and changed procedure might be taken as a focal points and change
influenced in the old strategies. Preparing is learning background that looks for generally
lasting change in a person that will enhance his/her capacity to perform at work.

They give "at work" preparing to their representatives in the branch as they select these
workers for offering different results of bank by coordinate promoting. At whatever point
they select new contender for any post, they use to give them at work.

If there should be an occurrence of offers people to appropriate their different items, at the
outset the individual must work under the perception of his senior then they should go in
market to have their own understanding.

The ideal opportunity for preparing program for the applicant is depends up on the significant
position of his work region. They additionally give preparing identified with client care and
correspondence.

Employee Remuneration and Incentive Payments: Compensation is the remuneration a

representative gets as an end-result of his/her commitment to the association. Compensation
possesses a noticeable place in the life of a worker. At AXIS, compensation of a worker
involves — wages and pay, motivating forces.
Wages and Salary: Aside from different impetuses and advantages, the work force is
remunerated just as far as wages and pay rates. A legitimate remuneration as far as this is
fundamental for inspiration representatives for their persistent enhanced execution. For this,

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 it is required that wages and pay rates are given well by association. Wages and pay alludes
to the foundation and usage of sound strategies and practices of representative's
remuneration. A wage and pay are the compensation paid for the administration of work
underway intermittently to a worker. The bank is in benefit industry, so the compensation is
given on month to month premise. They used to procure certain sales representative on
commission base and they are given their pay rates on commission base. While other staff
members are being given month to month pay rates. As AXIS bank is rumored bank in
showcase the compensation scale is according to the standard. Deals officials (cajole) are
being given compensation of 6000 to 8000 every month. While doing deals officer's
compensation ranges from 15000 to 18000 every month. Pivot bank is additionally giving
appealing impetuses according to the objective. The compensation of branch administrator is
around 35000 every month.
Incentive: In AXIS, representatives get motivating forces considering the objective given to
every worker and their zone of work. They have built up the motivation structure for the
workers in view of point framework. Every one of the representatives get the motivating
force in the frame money compensates.
Employees Advantage: The representatives of AXIS naturally move toward becoming
AXIS bank compensation account Holders with uncommon advantage and benefits and get
moment pay credit. The advantage incorporates worldwide check card, corporate card with
singular obligation (CCIL), access to telephone saving money and web managing an account,
demit records, and host of different administrations to supplement their investment account.
Here are a portion of the highlights of AXIS Bank's compensation account.
Disputes and their Determination: Question is normal in association. By and by, debate
principally identify with the objective simply because if any worker isn't accomplishing
target he/she won't qualified for impetus which makes disappointment among them. Each
representative can converse with the leader of the division on the off chance that they have
any issue identified with the activity. Right off the bat, the issue is tackled by the leader of
the division and if the issue does not settle by the leader of that office then it is routed to the
HR Manager.

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 Performance Appraisal: An association's objectives can be accomplished just when
individuals put in their earnest attempts. Execution examination might be comprehended as
the evaluation of a person's execution methodically. It is characterized as the precise
assessment of the person as for his/her execution at work and his/her potential for
advancement.

To evaluate the execution of the worker they have built up a credit framework in view of the
offered focus to the representative.

MARKETING DEPARTMENT

The 3rd largest private sector bank of India is Axis Bank which was previously known as UTI
bank. UTI bank changed its name to Axis in 2007 and it offers the entire spectrum of financial
services to customer segments covering Large & Mid-Corporates, MSME, Agriculture and
Retail Businesses. With a balance sheet size of Rs.383245 Crores as on 31st March 2014, Axis
bank has achieved consistent growth and stable asset quality with a 5 year CAGR (2010-2014) of
21% in total assets, 19% in total deposits, 23% in total advances and 28% in net profit.

Tagline – “Badhti ka naam Zindagi”.

Asha Kharga, Head, Marketing, AXIS Bank, said that these activities are particularly focused at
those customers who don't know about the bank's different esteem included administrations, for
example, coordinate managing an account office.

"We will exhibit the benefits of net managing an account and portable keeping money, as these
ideas are generally new to individuals living in littler towns and urban communities," said
Kharga. The bank has additionally propelled another activity called Business Ki Batten, which is
focused at zones where the greater part of the populace contains little businesspeople. Kharga
said that the bank would motivate specialists to chat on a few issues, for example, esteem include
assessment and deals charge. Bank can gauge the aftereffect of a battle through the deals that
they produce and the clients that are included. There is a reasonable rate of return, which from a

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useful perspective gives the group a more grounded voice. Bank has likewise possessed the
capacity to lessen their promotion spends by around 10-15 for each penny and has additionally
decreased the cost of obtaining Bank's concentration in future is upgrade its database advertising
activities. Bank intend to contribute near Rs 12 crore to make the condition that is required to
help client insight that prompts information-based advertising.

Hub has contracted a broad Customer Lifecycle based advertising effort date-book for this and
the anticipated monetary. Fractal, which spends considerable time in foreseeing the conduct of
the clients in the regions of hazard and advertising, would accomplice AXIS Bank's promoting
group in different activities of developing the retail business rapidly and cost viably.

Pivot has been utilizing investigation for taking educated promoting choices. Fractal will enable
the bank to utilize data to achieve new clients and to assemble, support and boost enduring client
connections. Fractal will likewise enable the bank to take care of the issue of consistently
expanding client securing expenses and diminishing client dedication. The showcasing modified
would include obtaining of clients productively by lessening effort costs, strategically pitching
different resource and risk items to the current clients, consequently, utilizing the current
connections and proactively holding existing clients.

MARKETING INITIATIVES TAKING BY THE BANK

Axis Bank is perhaps the main bank in India, and one of the plain few in Asia, to have set
out on an information drove promoting examination crusades activity, utilizing showcasing
robotization innovation gave by Uncia. Uncia has been perceived by Gartner as the main
player in this field. Through this instrument, we have possessed the capacity to brilliantly
utilize the 4-5 terabytes of client information accessible in its stockroom. We have set up a
group to direct showcasing efforts in a logical way utilizing client information, use designs,
inclinations, lifecycle, and so on., the bank likewise leads occasion-based promoting.

FINANCE DEPARTMENT
In this cutting-edge period, it is anything but difficult to know how much vital the back is in the
business. As present position of the market is entirely unexpected from old where it was anything
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but difficult to get the back. In any case, now daily it isn't in this way, it is exceptionally
troublesome undertaking to raise reserves from showcase. As today individuals are confronting
parcel of issue and have less certainty available, so it is hard to raise subsidize without
appropriate arranging.

For the bank as it is a Financial Institution we can think about back as backbone of this
business. The organization should figure out how to get adequate back. The organization
should use to keep legitimate making arrangements for the back of its own and of the vast
no. of contributors who are there with the bank. We can characterize financial
administration as an errand of procurement and use of assets required in the business in a
way, so associations objective can be accomplished. In AXIS Bank, its CFO and Treasurer
deal with the fund. Because of legitimate approaches and separate administration, the
organization can have appropriate activity of back.

SWOT ANALYSIS

Strength

Axis bank has been given the rating as one of best three positions as far as speediest
development in private division bank.
The bank has its presence in 1139 cities and towns.
The banks financial positions grow at a rate of 20% every year which a is, major positive
sign for any bank.

Weakness

Lesser no. of branches compared to its competitors.

Image of the bank still under the shadow of the UTI debacle.

Opportunity

Expansion in rural areas o Going to foreign markets and exploring the new economies.

Threats
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 New banking licenses issued by the Reserve Bank of India o Foreign banks o Competitors

INTRODUCTION OF AXIS BANK (KHANNA)

Axis Bank started operation in Shop No 18 A, Ground Floor GT Road, New Grain Market,
Khanna Near Ganesh Mandi, Punjab 141401on 29st July, 2017. Presently, Mr. Munish Vinod
Bhatia is the cluster head of Axis bank, Khanna. He is a dynamic personality known for his
dedication and hard work. The office is managed and run by Mr. Suresh Markan, Branch
Manager, the man with polite attitude. The total strength of the bank is 4 employees. The office
has well managed sections. All the employees have good communication skills and discipline.

MISSION AND VISION OF BANK

Mission: Axis Bank’s mission is to be a World Class Indian Bank. To build sound customer
franchises across distinct businesses so as to be the preferred provider of banking services for
target retail and wholesale customer segments, and to achieve healthy growth in profitability,
consistent with the bank’s risk appetite. The bank is committed to maintain the highest level of
ethical standards, professional integrity, corporate governance and regulatory compliance. Axis
Bank’s business philosophy is based on five core values: Operational Excellence, Customer
Focus, Product Leadership, People and Sustainability.

Vision: Axis Bank’s vision is to be customer driven best managed enterprise that enjoys market
leadership in providing housing related finance.

ORGANISATION STRUCTURE

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 Munish Vinod Bhatia
(Cluster Head)

Suresh Markan
(Branch Manager)

Hemant Bindal
(Operation Head)

Himanshu Sharma
(Customer Sale Officer)

Rupam kakaria
(Teller)

Figure No.6

FUNCTIONING OF DEPARTMENTS:

The bank deals in following departments:

i Human Resource Department: The bank deals with HR functioning of new employees for
right job, recruitment, selection, planning and hiring of employees. So that new employees
come in and retirees move out and make the organization full of skills.
ii Marketing Department: The marketing department deals with buying and selling of
products in the bank. The product, price, promotion, place are 4 main P’s in marketing
department. The products are made according to the needs of the customers. The price affects
the sales and markets to the customers. The promotion shows advertisements, publicity,
personal selling, boards and signage, etc. The place depicts that products should reach the
customer at right time and at right place.
iii Finance Department: Finance is a life blood of business. The department consist of
accounting, costing, taxation, etc. It also involves cashier who maintains cash and promotions
xlviii | P a g e
 and advertisements, maintains media and registers, audits and inspections to check out all
details and packages in bank.
iv Research and Development Department: The bank has research and development
department which focuses on market surveys, product launching to make customers aware of
new products.
v Inventory Department: The inventory department depicts maintenance of stock, materials,
accounts kits and papers. The responsibility includes what is the stock, how to position it and
presents it and how to maintain.

CHAPTER – 1

INTRODUCTION TO THE STUDY

Consumer behavior
Consumer behavior is referred to the behavior that is displayed by the individual while they are
buying, consuming or disposing any particular product or services. These behaviors can be
affected by multiple factors. Moreover, it also invoices search for a service, evaluation of service
where the consumer evaluates different features & benefits.

Importance of consumer behavior

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 To design the best possible product or service that fully satisfies consumer’s needs &
demands.
To decide where the service or product would be made available for easy access of
consumers.
To decide the price at which the consumers would be ready to buy that product or service.
To find out the best method of promotion that will prove to be effective to attract customers
to buy a product or service.

MULTIPLE FACTORS INFLUENCE ON CONSUMER BEHAVIOR

Psychological Social
Factors Factors

Understanding
Consumer Behavior

Cultural Personal
Factors Factors

Figure No. 7
1. Cultural factors
Cultural factors exert the deepest influence on consumer behavior. Culture is the most
fundamental determinant of a person’s wants &behavior. Sub culture includes nationalities,
religions, etc.
2. Social factors
Social factors such as reference groups, families, role& statues, etc. are influencing on consumer
behavior. A person’s reference groups consist of all the groups that have a direct or indirect
influence on the person’s attitudes or behavior. The family members constitute the most
influential primary reference group.
3. Personal factors
Personal factors include age & stage in the life cycle, occupation, personality, etc. are
influencing on behavior of consumers.
l|Page
4. Psychological factors
A consumer behavior influenced by four major psychological factors such as motivations,
perceptions, learning, beliefs& attitudes.
Elements of consumer behavior:

• Consumer motivation
• Consumer perception
• Consumer attitudes
• Consumer personality
• Reference groups

INTERNET BANKING

“Internet banking is the provision of banking & related service through extensive use of
information technology without direct users to the bank by the consumers.”
Internet banking system allows individuals to perform banking at home via internet. Internet
banking transaction states that customers use the internet to get their personal or business bank
accounts online anytime & to undertake banking transactions through the use of bank’ website
without inconvenience. Internet banking allows customers to do their banking transactions
anytime & providing continuous control over their accounts.

Types of Internet
Banking

Transactional internet Communicative Informational internet

banking internet banking banking

Figure No. 8

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1. Transactional internet banking
It is the most popular type & it includes full control over customer accounts such as deposits,
withdrawals, transfers, online payments & updates.
2. Communicative internet banking
It allows interaction between the bank system &customers. The communication is restricted to
e-mail account, inquiry loan application & static file updates name &address. However, fund
transfer is not included in this type of internet banking.
3. Informational internet banking
It means that the bank provides main information about bank’s products & services.

ADVANTAGE OF INTERNET BANKING FOR CUSTOMERS

Speed of banking transaction.

Minimize the use of traditional branch banking.

Reduce cost of physical branch banking.

Raised attainability & time saving banking processing can be made all hours a day.

CONSUMER BEHAVIOR WITH INTERNET BANKING

The ultimate goal of any organization is generation of profits with customer satisfaction. A
satisfied customer will come back & refer the internet banking services to other as well,
generating more sales& more profits. Consumer behavior, perception& satisfaction is considered
as necessary condition for customer retention& loyalty.
But adopting internet banking doesn’t ensure a bank competitive edge over its
competitors. They have to understand consumer behavior of internet banking in deciding the
right marketing strategies & developing new marketing strategies. Thus the study concentrates
on finding out who the users of internet banking, how they use it & which type of services they
preferred on internet banking.

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BACKGROUND OF THE STUDY

In this study, I got information about bank, consumers’ behavior, perception& attitude towards
internet banking services of Axis bank. I got information through structured questionnaire & got
responses from the respondents.
On the basis of this information I will conclude about perception of consumers & finding factors
like safety &security, convenience, easy accessibility, time& cost saving etc. which affecting
decision regarding internet services of Axis bank. The study will also help to the bank to take
necessary steps for understand the behavior of consumers & improving their services of internet.

PROBLEM STATEMENT

Title of the research is “A study on Consumer’s Perception towards Net Banking services of
Axis Bank”

In this study the main problems are identifying that,

Why consumers are not using internet services of Axis bank?
What kind of behavior, perception, attitudes & beliefs of consumers towards internet
banking services of Axis bank?

OBJECTIVES OF RESEARCH

Following are the objectives of research:

To study various factors affecting consumer behavior towards internet banking services.

To study consumer’s perception towards internet banking services provided by Axis

Bank.

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 To analyze attitude and beliefs of consumers towards the choice of internet banking
services.

To study the most preferred internet banking service offered by Axis Bank.

To study the role of internet banking as compared to traditional banking.

CHAPTER - 2
LITERATURE REVIEW

Abou-Robich, Moutaz (2005) has observed that there is a correlation between attitude towards
internet banking & feeling of security with regard to their demographic variables.

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Vardhman (2007) has examined that internet banking services makes the regular transactions
for a client speedy & time efficient with little or no paperwork involved. There is no need for
standing in long waiting line any more for making a deposit or withdrawing money. Banking has
turned into a 24/7 service with the bank always available to their client.

Kesseven (2007) has observed that the mostly used internet banking services are intra account
transfer, payment to other personal account, transfer to credit cash account, recharge mobile
phones among others. Comparing demographic variables of the internet banking users to the
non-internet banking users, the analysis reveals that there is no significant difference between
the two group of users with respect to age group & the education level of the respondents.

Harris (2007) has observed that Internet banking is one of the most recent technologies
innovations, which is becoming a need for every common man. It uses internet as a medium for
delivery banking services. Today, banking is not limited to branches, where a person goes to
bank for withdrawal of cash or request a statements of accounts. An inquiry or transaction can
be handled online without any reference to the branch any time through internet banking.
Benefits of internet banking include fast speed, convenient, cost effective & flexible.

Ubadineke, Franasics.N (2009) has examined that advances information technology &
telecommunications are resulting in new delivery channels for bank products & services in the
developing countries.

Prema C (2013) has examined the process of internet banking services & states that marketing
experts should emphasize these benefits & its adoption provides & awareness can also be
improved to attract consumer attention to internet banking services.

R. Elavarasi (2014) has identified that satisfaction level of customer view about internet
banking website of banks. The data analysis shows that age, educational qualification,
occupation, income level of customers is significant factor that decide usage of internet banking
services.

A. S. Amsunisa (2015) has identified that different age group of customers have different
perception toward the internet banking services & the usage level of these banks. Customers are
different so bank should concentrate on all the age group of customers have different perception
towards internet banking services. It has also seen that different occupation group of customers
have different perception toward the internet banking services. These are good number of
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customer in every group like student, service class &professionals, it shows that they all are
keen interesting in using the internet banking services.

Dr. M. Abdul Hakeem& Y. Moydheen Sha (2015) have observed that particular age group
have used the services of internet, the satisfaction of the customer majorly influenced the
convenience, awareness & responsiveness. In the present technology society, most of the
banking customer prefer & switch to internet banking facilities. So the banker may improve their
services, loyalty to customers & their retention by increasing awareness of other age groups &
concentrating on the factors contributing customer satisfaction.

CHAPTER 3
RESEARCH METHODOLOGY

RESEARCH METHODOLOGY

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Research is an art of scientific and systematic investigation. Thus research comprises defining
and redefining problems, suggested solutions, collecting, organizing and evaluating data, making
deductions and reaching conclusions. It is a game plan for conducting research. Research
methodology is a framework for the study and is used as a guide in collecting and analyzing the
data. It is a strategy specifying which approach will be used for gathering and analyzing the data.
The research methodology includes overall research design, the sampling procedure, the data
collection method and analysis procedure. Research Methodology is a way to solve the research
problem systematically. It involves the various steps to find out the solution of an identified
problem. Research Methodology is not only research method but the logic behind the method
used in context of research study and explains why we are using a particular method or
techniques so the results are capable of being evaluated. Research methodology may be
understood as a science of studying how research is done in a scientific manner. In short research
methodology is the underlying theory of how research is conducted. The research may be
qualitative or quantitative.

Research Objective

This research objective shows about what are the objectives of this research process. This study
helps to analyze the customer’s preference on public & private sector bank and their products &
services, to find out the perception of customer’s about products of the bank, to know the risk
tolerance level of customers and to analyze the factors considered for opening the accounts.

Research Design

In the study descriptive research design has been used. A research design is a framework or
blueprint for conducting the research. A Descriptive study tries to discover answers to the
questions who, what, when, where, how. The research attempts to describe or define a subject,
often by creating a profile of group of problems, people, or events. This descriptive study is
popular in business research because of its versatility across disciplines. In descriptive and
diagnostic study of the researcher must be able to define clearly what he wants to measure and
must find adequate method for measuring.

METHOD OF DATA COLLECTION

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This study tells us about what are methods of data collection that is primary and secondary data.

Types of Data

Primary Data Secondary Data

Figure No. 12

Primary Data

The primary data are those, which are collected afresh and for the first time, and thus happened
to be original in character. We can obtain primary data either through observation or through
direct communication with respondent in one form or another or through personal interview.
This study is experimental in nature. The data of experimental study will be collected for
analyzing the information from employees of bank and customers of banks. The researcher
collected primary data by preparing questionnaire and get it filled by the customers of bank.

Questionnaire: This method of data collection is quite popular, particular in case of big
enquiries. Here in our research we set 16 simple questions and request the respondents to answer
these questions with correct information.

Respondents: Respondents helps in creation of more accurate idea about our research. We
personally meet the respondents inside and outside the banks.

Secondary Data

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Data collection was done through published and unpublished sources. The secondary data on the
other hand, are those which have already been collected by someone else and which have already
been passed through the statistical processes. When the researcher utilizes secondary data then he
has to look into various sources from where he can obtain them.

In this study data have been taken from various secondary sources like:

Banks Annual Reports: Banks issues their annual reports to get the people informed with the
profitability and growth of the bank. These annual reports help us a lot to get the latest data and
other related information for our research. It tells us about the increase or decrease in profits and
other facilities.

Journals and Publications of Different Banks: We also take into consideration the journals
and publications issued by the bank at different times. we come to know about the Branches,
ATM, locations and other useful information.

Manuals and Broachers of Different Banks: We take the help of bank staff and other people
who gives us deep information and data which may not be available at anywhere. They give us
their full co-operation.

Internet: We also take into consideration the internet facility with which we collect lot of the
latest information.

SAMPLE PLAN

Sample Size: Keeping in mind all the constraints the size of the sample of the study was selected

as 108.

Sampling Unit: Axis Bank of Punjab Branch in Khanna city.

Sample Area: The area taken for the sample is market of Shop No 18 A, Ground Floor GT
Road, New Grain Market, Khanna, Near Ganesh Mandi, Punjab 141401.

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Sampling Technique: Stratified convenient sampling. All the saving account holders were taken

into consideration. Research was conducted on clear assumptions that the respondents would

give frank and fair answers in a pragmatic way and without any bias.

Sampling Description: In order to understand the nature and characteristics of various

respondents in this study, the information was collected and analyzed according to their socio

economic background which included the characteristic of their respondents like gender, age and

monthly income. This description shows that respondents included in this survey belong to

different backgrounds and this turn increase the scope of the study.

CHART USED FOR DATA ANALYSIS

The charts used for data analysis is pie chart from which the data is analyzed diagrammatically to
check the results.

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 CHAPTER - 4

DATA ANALYSIS AND INTERPRETATION

The data collection has done in Axis bank, Khanna. It gives idea about consumer behavior about
internet banking services of bank. It gives factors which can affecting the decision of using
internet banking.

I. GENDER OF RESPONDENTS

GENDER

23; 21%

Male
Female

85; 79%

Figure No. - 9

NO. OF RESPONDENTS PERCENTAGE

GENDER
Male 85 79%

Female 23 21%

Table No. - 3

Interpretation & Analysis:

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Out of 108 respondents, 85 are male while the remaining 23 are female. It means majorly male
respondents are giving responses rather than the female respondents because male respondents
are involved more in banking transactions.

II. AGE OF RESPONDENTS

AGE
40
40

35

30
25
25
20
20
15
15
8
10

0
NO.OF RESPONDENTS

18-25 years 26-35 years 36-45 years 46-55 years Above 55 years

Figure No. - 10

AGE NO.OF RESPONDENTS PERCENTAGE

18-25 years 40 37%
26-35 years 25 23%
36-45 years 20 19.04%
46-55 years 15 13.88%
Above 55 years 8 7.40%
Table No. - 4
Interpretation & Analysis:

Above graph shows that 37%, that is 40 participants, are within the smallest age group of 18 to
25 years old. The percentage of 26 to 35 years of age group with a 23%, or 25 respondents. The

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 other three age groups of 36 to 45 years, 46 to 55 years, and 55 years and over have a proportion
of 19.04%, 13.88% and 7.40% respectively.
The result of this question shows that responses from the younger generation would have been
higher as they are major users of internet.

III. OCCUPATION OF RESPONDENTS

OCCUPATION
38.89%

25.92%

42
16.67%
28
11.11%
18 7.41%
12
8

Self Employed Private Job Government Job Housewife Student

NO. OF RESPONDENTS PERCENTAGE

Figure No. - 11

OCCUPATION NO. OF RESPONDENTS PERCENTAGE

Self Employed 42 38.89%
Private Job 12 11.11%
Government Job 18 16.67%
Housewife 8 7.41%
Student 28 25.92%
Table No. - 5

Interpretation & Analysis:

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 Above graph shows that occupation of respondents divided into 28% students, 12% Private Job,
42% self-employed, 8% housewife& 18% government Job. It means most of the self-employed
& student respondents are giving responses because they are having frequent requirement of
bank transactions than others.

IV. EDUCATIONAL LEVEL OF RESPONDENTS

QUALIFICATION
41%

28%

45
19%

30
21
7%
5%
5 7

Primary level Secondary level Bachelor’s Degree Master’s Degree Doctoral Degree

NO. OF RESPONDENTS PERCENTAGE

Figure No. - 12

EDUCATIONAL NO. OF PERCENTAGE

LEVEL RESPONDENTS
Primary level 5 5%
Secondary level 30 28%
Bachelor’s Degree 45 41%
Master’s Degree 21 19%
Doctoral Degree 7 7%
Table No. - 6

Interpretation & Analysis:

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 Above graph shows that highest number of respondents 45 individuals i.e. 41% have up to
graduate level of education followed by the 5(5%) respondents with a primary education,
30(28%) respondents with a secondary education, 21(19%) respondents with a master level,
while 7(7%) individuals have a doctoral level of education.
It means out of all the respondents majority have education up to graduate level while very few
of them having primary & doctoral level of education.

V. WHAT IS YOUR ANNUAL INCOME?

INCOME
ABOVE Rs. 10,00,000 7 6.48%

7,50,000 – 10,00,000 20 18.52%

5,00,000 – 7,50,000 22 20.37%

2,50,000 – 5,00,000 40 37.04%

Less than Rs. 2,50,000 19 17.59%

NO. OF RESPONDENTS PERCENTAGE

Figure No. – 13

ANNUAL INCOME NO. OF PERCENTAGE

(IN RS.) RESPONDENTS
Less than Rs. 2,50,000 19 17.59%
2,50,000 – 5,00,000 40 37.04%
5,00,000 – 7,50,000 22 20.37%
7,50,000 – 10,00,000 20 18.52%
Above Rs. 10,00,000 7 6.48%
Table No. - 7
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 Interpretation & Analysis:

From above graph, it can be concluded that Annual income ranged of people divided into
17.59%, 37.04%, 20.37%, 18.52% and 6.48% respectively.
Highest of the people fall in the category of Rs. 250,000 to 5,00,000 annual income. Some of the
people fall in the category of Rs.5,00,000 to 7,50,000 annual income. Very few people fall in the
category of Above Rs.10,00,000 annual income.

VI. IN WHICH BANK DO YOU HAVE YOUR ACCOUNT?

BANK

32.41%

27.78%

35 15.74%
30
11.11%
9.26%
17
10 12
3.70%
4
Axis Bank HDFC Bank ICICI bank SBI bank Punjab National Other
bank

NO. OF RESPONDENTS PERCENTAGE

Figure No. – 14

BANK NO. OF RESPONDENTS PERCENTAGE

Axis Bank 30 27.78%
HDFC Bank 35 32.41%
ICICI bank 10 9.26%
SBI bank 17 15.74%
Punjab National bank 12 11.11%
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 Other 4 3.70%
Table No. - 8

Interpretation & Analysis:

From above graph, first highest group with 32.41% respondents have their account in HDFC
bank, then second highest group with 27.78% respondents have their account in Axis bank,
while remaining 9.26%, 15.74%, 11.11% & 3.70% respondents have their account in ICICI
bank, SBI, Punjab National bank & others respectively.

It shows that many of the respondents are having their accounts in HDFC & Axis bank.

VII. WHICH BANK’S INTERNET SERVICES ARE YOU CURRENTLY

USING OTHER THAN AXIS BANK?

BANK

32.40%

27.78%

18.52%
35
30 13.89%

20
15 7.41%
8

HDFC bank ICICI bank SBI Punjab National bank Other

No. of respondents Percentage

Figure No. - 15

BANK NO. OF RESPONDENTS PERCENTAGE

HDFC bank 35 32.40%
ICICI bank 30 27.78%

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 SBI 20 18.52%
Punjab National bank 15 13.89%
Other 8 7.41%
Table No. - 9

Interpretation & Analysis:

Above figure shows that 32.40% people are using internet service of HDFC bank then second
highest group with 27.78% people are using internet service of ICICI bank while remaining
18.52%, 13.89% & 7.41% respondents are using internet service of SBI, Punjab National bank
& other bank respectively.
As the result shows that most of the respondents are using internet services of HDFC bank &
ICICI bank as they are having accounts in the same while some respondents are using other
banks’ internet service.

VIII. DO YOU FEEL SAFE IN DISCLOSING YOUR DETAILS ON

INTERNET?

RESPONSE

43; 40% Yes

No
65; 60%

Figure No. - 16

RESPONSE NO. OF RESPONDENTS PERCENTAGE

Yes 65 60%
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 No 43 40%
Table No. - 10

Interpretation & Analysis:

Above graph shows that out of 108 respondents 65(60%) are feeling safe while 43(40%) are not
feeling safe in disclosing their details on internet with having the fear of its disclosure.

IX. WHAT ARE YOUR MAIN TRANSACTIONS YOU WOULD PREFER

TO DO BY INTERNET? (TICK ONE OR MORE)

TRANSACTIONS

28.67%

34.48%

50
41 15.17%
8.27%

22 13.79%
20
12

Money transfer Pay bills Order a cheque book Request a demand Stock transaction
draft

NO. OF RESPONDENTS PERCENTAGE

Figure No. – 17

TRANSACTIONS NO. OF RESPONDENTS PERCENTAGE

Money transfer 41 34.48%

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 Pay bills 50 28.67%
Order a cheque book 22 15.17%
Request a demand draft 12 13.79%
Stock transaction 20 8.27%
Table No. - 11

Interpretation & Analysis:

Above graph shows that 34.48% respondents’ main transaction is paying bills,28.27%
respondents’ mainly transfer their money while remaining 15.17%,13.79% & 8.27%
respondents’ main transactions are order a cheque book, stock transaction & request a demand
draft respectively.
It means most of the people using internet for paying bills & transfer of money as they are the
basic requirements in day to day affairs.

X. ARE YOU SATISFIED WITH YOUR BANK SERVICES?

SATISFACTION LEVEL

27.77%

23.14%
20.37%
19.44%

30
25
21 22
9.25%

10

Highly satisfied Satisfied Neutral Slightly satisfied Not satisfied

NO. OF RESPONDENTS PERCENTAGE

Figure No. - 18

RESPONSE NO. OF PERCENTAGE

RESPONDENTS

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 Highly satisfied 10 9.25%
Satisfied 30 27.77%
Neutral 25 23.14%
Slightly satisfied 21 19.44%
Not satisfied 22 20.37%
Table No. - 12

Interpretation & Analysis:

Out of the 108 respondents, 27%respondents were satisfied while 20.37% respondents
were not satisfied while remaining 23.14% respondents were neutral & 9.25%
respondents were highly satisfied with their bank services. It means majority of
respondents are satisfied with their respective bank services.

XI. ARE YOU USING INTERNET BANKING SERVICES OFFERED BY

THE AXIS BANK?

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 NO. OF RESPONDENTS

40; 37%
Yes
No
68; 63%

Figure No. - 19

RESPONSES NO. OF RESPONDENTS PERCENTAGE

Yes 68 62.96%
No 40 37.03%
Table No. - 13

Interpretation & Analysis:

Out of 108 respondents, 68 respondents are using while 40 respondents are not using internet
banking services offered by Axis bank due to lack of awareness.

XII. WHAT ARE THE REASON TO USE INTERNET BANKING? (TICK

ONE & MORE)

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 REASONS
31%

25%

20%

16% 33
14%
27
22
9%
17
15
6%
10
6

Better Easy to use Convenient Safety & Save time Cost effective Other
information security

NO. OF RESPONDENTS PERCENTAGE

Figure No. – 20

REASONS NO. OF RESPONDENTS PERCENTAGE

Better information 15 13.88%
Easy to use 27 25%
Convenient 22 20.37%
Safety & security 17 15.74%
Save time 33 30.55%
Cost effective 10 9.25%
Other 6 5.55%
Table No. - 14

Interpretation & Analysis:

As per graph, it can be seen that the main reason for using internet services is the saving time,
which accounts for 30.55%of the whole sample. Moreover, there are 25% respondents who have
stated the reason of user friendly. The convenience, safety & security, getting better information
& other reasons are followed with respondents of 20.37%, 15.74%, 13.88% &5.55%
respectively. Because in today’s scenario, time is one of the most important factor which lead to
access of internet services over physical one.

XIII. HOW OFTEN DO YOU USE INTERNET BANKING SERVICES?

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 RESPONSES

6; 9% 11; 16% Daily

Weekly
9; 13% Monthly
Yearly
Rarely

15; 22%
27; 40%

Figure No. - 21

RESPONSES NO. OF RESPONDENTS PERCENTAGE

Daily 11 16.17%
Weekly 27 39.70%
Monthly 15 22.05%
Yearly 9 13.23%
Rarely 6 8.82%
Table No. - 15

Interpretation & Analysis:

From the above graph, it can be said that 27 respondents are using internet services weekly
followed by monthly, daily, yearly & rarely respectively. So they are performing to have access
for status of banking information through weekly use of internet banking services.

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XIV. FROM HOW MANY YEARS, INTERNET BANKING SERVICES DO
YOU USE?

Chart Title
42.64%
More than 3 years
29

25.00%
2 to 3 years
17

19.11%
1 to 2 years
13

13.23%
Less than 1 year
9

0 5 10 15 20 25 30 35

NO. OF RESPONDENTS PERCENTAGE

Figure No. – 22

DURATION NO. OF RESPONDENTS PERCENTAGE

Less than 1 year 9 13.23%
1 to 2 years 13 19.11%
2 to 3 years 17 25%
More than 3 years 29 42.64%
Table No. - 16

Interpretation & Analysis:

Above graph shows that 29 respondents are using internet services since more than three years
followed by 17 respondents from two to three years, 13 respondents from one to two years. This
means that internet banking is not considered as something new & also that once people adopt
this new way of doing banking they tend to continue using it for a long period of time.

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XV. WHO/WHAT AFFECTS YOUR CHOICE IN STARTING TO USE
INTERNET BANKING?

RESPONSES
Other 11 16.17%

Promotions 7 10.29%

Service provider(bank) 27 39.70%

Friends 8 11.76%

Family 15 22.05%

NO.OF RESPONDENTS PERCENTAGE

Figure No. -23

RESPONSES NO.OF RESPONDENTS PERCENTAGE

Family 15 22.05%
Friends 8 11.76%
Service provider(bank) 27 39.70%
Promotions 7 10.29%
Other 11 16.17%
Table No. 17

Interpretation & Analysis:

Above graph shows that the main influencer for consumers in starting the use of internet
banking services was the service provider or the bank, itself with a majority of 39.70%. Family
also plays a very important role with 22%. Followed by friends & promotion options
respectively. So the service provider of internet banking plays the most important role in
encouraging consumers to start to use this service.

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XVI. WHICH TYPE OF INTERNET BANKING SERVICES DO YOU
USE? (TICK ONE OR MORE)

NO. OF RESPONDENTS

24; 24%
30; 31% ATM
Bill payment
Fund transfer
8; 8% Credit card
Bank statement
16; 16%
20; 20%

Figure No. 24

SERVICES NO. OF RESPONDENTS PERCENTAGE

ATM 30 30.61%
Bill payment 16 16.32%
Fund transfer 20 20.40%
Credit card 8 8.16%
Bank statement 24 24.49%
Table No. - 18

Interpretation & Analysis:

Above graph depicts that the major internet banking service that 30.61% respondents make use
of is the ATM. After this option, respondents have chosen checking bank statement, fund
transfer, bill payment & using credit card with 24.48%,20.40%,16.32% & 8.16% respectively. It

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 means most of the consumers are using ATM service & checking their bank statement through
internet banking.

XVII. RATE THE FOLLOWING INTERNET BANKING SERVICES.

BANKING SERVICES

50
48
45

38

27
25
20 20
18 18 18
15 15 15
12 12 12
10
8
6
ATM Fund transfer Bill payment Credit card

POOR BELOW AVERAGE AVERAGE GOOD EXCELLENT

Figure No. - 25

SERVICES POOR BELOW AVERAGE GOOD EXCELLENT

AVERAGE
ATM 8 12 18 50 20
Fund transfer 10 15 20 45 18
Bill payment 12 18 25 38 15
Credit card 6 12 15 48 27
Table No. - 19

Interpretation & Analysis:

Above table shows various kinds of services & the ratings given by respondents according to
their experience. Credit card has been also rated as excellent by major respondents. ATM has
been also rated as Good.

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 XVIII. WHAT ARE THE FACTORS WHICH AFFECTS YOUR
DECISION REGARDING INTERNET BANKING SERVICES?
(RANK THE FOLLOWING)

FACTORS

65
60 60

30 30 30 31
26 25 25
22
20
18 18 18
15 15 15 15
12 12 12 13 13
10 10 10
8
5 5
1 2 3 4 5

Safety & security Updated information Easy accessibility

Place convenience Time & cost saving Transparency
Figure No. - 26

Rank 1 to 5. 1 is least important and 5 is most important.

FACTORS 1 2 3 4 5
Safety & security 5 10 15 18 60

Updated information 10 18 20 30 30

Easy accessibility 12 15 26 25 30

Place convenience 18 12 25 22 31

Time & cost saving 5 10 13 15 65

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 Transparency 8 12 13 15 60
Table No. – 20

Interpretation & Analysis:

Above table shows various factors affecting on decision regarding internet banking services of
Axis bank. Main consideration is being given to time & cost saving followed by other factors
like accessibility, safety & security, up to date information.

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XIX. PLEASE GIVE THE OPINION REGARDING INTERNET BANKING
THROUGH FOLLOWING DETAILS.

STATEMENTS
60 62 59 56
45 40 40
30 3530
25 282530 28 26 3028
20 2018 20 22
1518 18 15 18 16 18
10 15
18
510 812 6
12 10 5
1211
38 610 810 6

STRONGLY DISAGREE DISAGREE NEUTRAL

AGREE STRONGLY AGREE

Figure No. - 27
DETAILS STRONGLY DISAGRE NEUTRAL AGREE STRONGLY
DISAGREE E AGREE
Safety & security 5 10 15 18 60
Provide up to date 8 12 18 25 45
& accurate
information
24 hrs 6 12 20 30 40
accessibility
Better Rate 10 15 28 25 30
Time saving 5 12 11 18 62
Quick service 3 8 20 18 59
Variety of 6 10 20 16 56
features
& services that
are offered
Low Service 10 18 15 35 30
Charge
Human contact is 8 10 22 28 40
not essential
Convenience 6 26 18 30 28
Table No. - 21
Interpretation & Analysis:

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The above table shows that opinion regarding internet banking. First of all, out of total 108
respondents who are using internet banking services, 60 are strongly agree for safety & security.

Out of total respondents 45 are strongly agree on up to date & accurate information by internet
banking followed by 25 & 12 with agree & disagree respectively. Major respondents are
strongly believing about 24 hours accessibility followed by time saving & variety of features
offered by internet banking services. There are some respondents who are also having traditional
mindset about internet banking & responded that it is costly as well as human contact is essential
which is not feasible in internet banking.

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XX. WOULD YOU RECOMMENDED INTERNET BANKING SERVICES
TO OTHER?

NO. OF RESPONDENTS

20; 29%
Yes
No

48; 71%

Figure No. - 28

RESPONSES NO. OF RESPONDENTS PERCENTAGE

Yes 48 70.58%
No 20 29.41%
Table No. - 22

Interpretation & Analysis:

From the above graph, it can be seen that 70.58% respondents are recommending internet
banking services to other due to their positive experience with Axis Bank’s services while
29.41% respondents are not recommending it to others.

XXI. WHAT ARE THE REASONS YOU DO NOT USE INTERNET

BANKING SERVICES? (TICK ONE OR MORE)

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 REASONS
Other 6 7.79%

Costs 8 10.38%

Lack of safety & security 10 12.98%

Lack of human contact 15 19.48%

Lack of knowledge about internet banking services 22 28.57%

Difficult to use 6 7.79%

Unreliability 10 13.00%

No. of respondents Percentage

Figure No. - 29

REASONS NO. OF RESPONDENTS PERCENTAGE

Unreliability 10 13%
Difficult to use 6 7.79%
Lack of knowledge about 22 28.57%
internet banking services
Lack of human contact 15 19.48%
Lack of safety & security 10 12.98%
Costs 8 10.38
Other 6 7.79%
Table No. – 23

Interpretation & Analysis:

Above graph shows that out of total respondents who not recommending internet are banking
services to others i.e. 15 respondents believe that human contact is necessary. There are certain
respondents who have shown fear of disclosing information due to unreliability.

XXII. MANUAL BANKING IS MORE CONVENIENT THAN INTERNET

BANKING?

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 NO. OF RESPONDENTS

1; 5%
3; 15% Strongly agree
8; 40% Agree
2; 10% Neutral
Disagree
Strongly disagree

6; 30%

Figure No. – 30

RESPONSES NO. OF RESPONDENTS PERCENTAGE

Strongly agree 8 40%
Agree 6 30%
Neutral 2 10%
Disagree 3 15%
Strongly disagree 1 5%
Table No. - 24

Interpretation & Analysis:

Out of total 20 respondents who are not recommending internet banking services to other ,8
respondents are strongly agree that manual banking is more convenient,6 respondents are agree
followed by 2 are neutral while 3 are disagree that manual banking is more convenient than
internet banking.

It means most of the respondents are not recommending to others for using internet service
because they strongly believe that manual banking is more easy & convenient for them.

XXIII. DO YOU CONSIDER STARTING USING INTERNET BANKING IN

THE NEAR FUTURE?

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 RESPONSE

2%

NO. OF RESPONDENTS
PERCENTAGE

98%

Figure No. - 31

RESPONSE NO. OF RESPONDENTS PERCENTAGE

Yes 7 15%
No 13 65%
Table No. - 25

Interpretation & Analysis:

Out of 20 respondents who are not recommending internet banking services to others,35%
respondents intend to start using internet banking in near future while 65% respondents do not
start using internet banking in near future.

CHAPTER - 5
lxxxvi | P a g e
 FINDINGS & SUGGESTIONS

FINDING

Most of the male & younger age group who are Student & self-employed respondents
are giving more responses.

29% & 35% respondents are using internet for paying bills & transfer their money.

The major factors are affecting consumer attitudes towards using internet banking
services are the saving time, 24 hrs easy accessibility.

Positive perception of respondents with 31% towards using ATM & 25% towards
checking bank statement services of Axis bank.

Majorly service provider (bank) is more influencing for choice in starting use of internet
banking services.

There are main two reasons-lack of human contact & lack of knowledge about internet
banking for consumers who are not using internet banking services.

Mostly consumers are using internet banking services on weekly basis.

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SUGGESTIONS

Banks should ensure that online banking is safe and secure for financial transaction like as
traditional banking.

Banks should organize Seminar & Conference to educate the customer regarding the uses of
online banking as well as security and privacy of their accounts.

Some elder customers are hindered by lack of computer skills. They need to be educated on
basic skills require to conduct online banking.

Banks must empathize the convenience that online banking can provide to elder people, such
as avoiding a long queue, in order to motivate them to use it.

Banks must empathize the cost saving that online can provide to the elder people, such as
reduce transaction cost like Cashback by the use of online banking.

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 CHAPTER – 6

CONCLUSION

The primary purpose of doing this study was to understand consumer behavior towards internet
banking services of Axis Bank in Khanna city. In the study, it has been found that most of
people prefer internet banking services such as ATM & checking bank statement of Axis bank.
According my research, I found that factors plays biggest role for using internet banking
services are saving time & 24 hrs accessibility of Axis bank. Company is required to create
awareness of internet banking services through digital channels particularly in Khanna City as
one of the major factor that is lack of awareness about services has been also found form the
study. Company should also provide customer support executives with low cost services.

LIMITATION OF THE STUDY

The present study has covered Khanna city only due to limitation of time.

Biased responses can be possible due to human contact.

Sometimes respondents were not ready to give response because of time constraint.

The sample size of the study is very small due to cost and time constraints.

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 CHAPTER - 7

DETAILS OF ACTUAL WORK DONE

I did my two months of internship program in Axis Bank Khanna branch. I got the opportunity to
work in different department of the branch. I found myself very fortunate for being able to
associate with one of the renowned banks in India. My work was to work with them as a helping
hand and learn how to do that work properly.

INTERNSHIP POSITION, DUTIES AND RESPONSIBILITIES

The report has been prepared on the basis of experience gathered during the period of internship.
Within this period, I mainly worked with department namely General Banking, Accounts
department.

Customer Service Department

In this department, I started my work learning how to open a Bank account, how to fill up the
customer bank account opening forms. My immediate supervisor tried to give me a brief
description of his regular tasks before assigning me to any kind of activities. Later on through
my personal observation and guidance of the superior officer, I came to know about different
types of account like current account (C/A), savings account (SA), STD, FDR etc. He also
assisted me on how to answer client versatile questions regarding different account opening,
what amount of interest they will get from different types of account.

The following activities which had done by me:

Giving the customers information regarding what type of documents are required to open
an account. I used to tell them they need two copies of their PP size photographs and 1
copy PP size photograph of the nominee. They are also required to submit the photocopy
of their passport/national ID card/TIN papers.

Discuss with the customers who want to open a bank account. Collect all the documents
from the customers like two copy passport size photo, National ID card, and electricity
bill, Job ID card for office employees or Trade License for business person. Verify the
National ID card of the customers and do Sanction Screening.

I used to update the customer’s account opening form.

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 I provided product related information to the customers.

Filling up Know Your Customer (KYC) form for personal and corporate risk rating. My
job was to find out risk level and risk rating of personal and corporate by considering TP
form for the purpose of measuring of overall risk assessment.

Making phone calls for collecting necessary photographs, photocopy of National ID cards
or any other requires.

Scan papers and send mail to the customers and let them aware about any important
news.

Fill out the vouchers of customers for deposit, clearing cheque and for payment.

ACCOUNTS AND CLEARING DEPARTMENT

Accounts department is a sensitive part of a bank. This department is very busy

department. In this department, tasks of all departments, all departments’ transaction
vouchers are maintained. The tasks I performed in this department are given below:

Voucher sorting, counting and filing by checking the number of accounts have been
debited or credited, check the account holder signature, account number so on.
Debit, credit voucher separation.
Stamping the cheque in the back and fill out the account number, date and check the
signature of the customer.
Receive Cheque from customers and prepare them for clearing with “Crossing”,
“Clearing” and “Collection” seals. Then write the Inward, Outward and Return
cheque list in the register book with Bank Name, Cheque Number and Account
Number.
Call those customers whose cheque won’t take place due to Insufficient Fund or
Signature Missing. When the customers arrive receives their signatures in the return
register and delivers them the return cheque.

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 REFERENCES

JOURANAL ARTICLES

Aurora S. and Malhotra M. (1997), “Customer Satisfaction: A Comparative Analysis of

Public and Private Sector Banks”; Decision 24(1-4), January-December, IIM Calcutta, 109-
130.
Bhatt, A. (1990), Study of Marketing Research in Banking, NIBM Pune, 5
Bitner, M.J. and Hubbert, A.R. (1994), “Encounter satisfaction versus overall satisfaction
versus quality: the customer voice”, in Rust R.T. and Oliver, R.C.(Eds), Service Quality,
New Directions in Theory and Practice, Sage publications, London, 72-94.
Bolton, R.N. and Drew, J.H (1994), “Linking customer satisfaction to service operations and
outcomes”, in Rust, R.T. and Oliver, R.C (Eds), Service Quality, New Directions in Theory
and Practice, Sage publications, London, 173-201.
Boyd, W.L., Leonard, M. and White, C. (1994), “Customer Preferences for Financial
Services: An Analysis”, International Journal of Bank Marketing 12(1), Emerald, 9-15.
Dutta, K. and Dutta, A. (2009), “Customers expectation and Perception across the Indian
Banking Industry and the resultant financial implications”, Journal of Services Research 9(1),
Sage publications, 31-49.
Geiger, H. (1975)” Standard Surveys for Analyzing Local Bank Competition”. The Use of
Market Research in Financial Field', ESOMAR, 85-95.
Hallowell, Roger (1996), “The relationships of customer satisfaction, customer loyalty, and
profitability: An empirical study”, International Journal of Service Industry Management
7(4), Emerald, 27-42.
Huu, Phuong Ta; Kar, Yin Har (2000). “A study of bank selection decisions in Singapore
using the Analytical Hierarchy Process”, The International Journal of Bank Marketing, 18(4),
Emerald,170 - 180.
Laroche, M., Rosenblatt, J. A. and Manning, T. (1986), “Services Used and Factors
Considered Important in Selecting a Bank: An Investigation Across Diverse Demographic
Segments”, International Journal of Bank Marketing 4(1), Emerald, 35-55.
Lewis, B.R. and Birmingham, G.H (1991). “The youth Market for financial services”,
International Journal of Bank Marketing, 9(2), Emerald, 3-1 1.
Liang, Chiung-Ju and Wang, Wen-Hung (2004), “Attributes, benefits, customer satisfaction
and behavioural loyalty- An integrative research of financial services industry in Taiwan”,
Journal of Services Research, 4(1), April-September, Sage publications, 23-57.

xcii | P a g e
 Meidan, A. (1976), “Branch Manager’s Attitude on Bank Objectives and Operations”,
Proceedings of the European Academy of Advanced Research in Marketing Conference:
Insead, 215-228.
Nair, Rajagopala (1994), “Rural Bank Marketing in Kerala’, Unpublished Doctoral
Dissertation, University of Kerala.
Sarin, Anil (2007), “Contemporary Issues in Services Marketing.” Prabandhan: Indian
Journal of Marketing 37, 40-44.
Smith, Anne M. (1990), “Quality Aspects of Services Marketing”, Marketing Intelligence &
Planning 8(6), Emerald, 25-32.
Tyler, K. and Stanley, E. (2001), “Corporate banking: the strategic impact of boundary ICBI
2010 - University of Kelaniya, Sri Lanka spanner effectiveness”, International Journal of
Bank Marketing 19(6), Emerald, 246-252.

WEBSITES

https://www.axisbank.com/

http://www.moneycontrol.com

http://www.scrib.com

http://www.researchgate.net

https://s3.amazonaws.com

http://www.indianresearchjournals.com

http://www.investpedia.com

http://www.managementguide.com

http://www.academia.com

http://www.yourarticlelibrary.com

https://scholar.google.co.in

https://www.sciencedirect.com

https://shodhgangotri.inflibnet.ac.in

xciii | P a g e
 https://www.ndtv.com/

ANNEXURE

QUESTIONNAIRE

Dear respondent,
I am student of MBA (Banking & Finance) studying at Chitkara
University. The aim of this questionnaire is to survey “A Study on Consumer Behavior
towards Internet Banking Services of Axis Bank” in Khanna City. I assure you the
information given by you will be kept quite confidential and it will not be misuse. It will be
used for study purpose only. You are requested to fill questionnaire.

Thank you.
Yours faithful

I. NAME
II. ADDRESS

III. GENDER
a) Male
b) Female

IV. AGE
a) 18-25 years
b) 26-35 years
c) 36-45 years
d) 46-55 years
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 e) Above 56 years

V.OCCUPATION
a) Self-employed
b) Private Job
c) Government Job
d) Housewife
e) Student

VI. EDUCATION LEVEL

a) Primary Level
b) Secondary Level
c) Bachelor’s Degree
d) Master’s Degree
e) Doctoral Degree

VII. WHAT IS YOUR ANNUAL INCOME?

a) Less than Rs.2,50,000
b) Rs.2,50,000 to 5,00,000
c) Rs.5,00,000 to 7,50,000
d) Rs.7,50,000 to 10,00,000
e) Above Rs.10,00, 000

VIII. IN WHICH BANK DO YOU HAVE YOUR ACCOUNT?

a) Axis bank
b) HDFC bank
c) ICICI bank
d) SBI
e) Punjab National bank
f) Others

IX. WHICH BANK’S INTERNET SERVICES ARE YOU CURRENTLY

USING OTHER THAN AXIS BANK?
a) HDFC bank
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 b) ICICI bank
c) SBI
d) Punjab National Bank
e) Others

X.DO YOU FEEL SAFE IN DISCLOSING YOUR DETAILS ON

INTERNET?
a) Yes
b) No

XI. WHAT ARE YOUR MAIN TRANSACTIONS YOU WOULD PREFER

TO DO BY INTERNET? (TICK ONE OR MORE)
a) Money transfer
b) Pay bills
c) Order a cheque book
d) Request a demand draft
e) Stock transactions

XII. ARE YOU SATISFIED WITH YOUR BANK SERVICES?

a) Highly satisfied
b)Satisfied
c) Neutral
d)Slightly satisfied
e) Not satisfied

XIII. ARE YOU USING INTERNET BANKING SERVICES

OFFERED BY THE AXIS BANK?
a) Yes

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 b) No

If you answered “yes” then please give your response for following questions:

XIV. WHAT ARE THE REASONS TO USE INTERNET BANKING?

(TICK ONE OR MORE)
a) Better information
b) Easy to use
c) Convenient
d) Safety & security
e) Save time
f) Cost effective
g) Others

XV. HOW OFTEN DO YOU USE INTERNET BANKING SERVICES?

a) Daily
b) Weekly
c) Monthly
d) Yearly
e) Never

XVI. FROM HOW MANY YEARS, INTERNET BANKING

SERVICES DO YOU USE?
a) Less than 1 year
b) 1-2 years
c) 2-3 years
d) More than 3 years

XVII. WHO/WHAT AFFECTS YOUR CHOICE IN STARTING TO

USE INTERNET BANKING?
a) Family
b)Friends
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 c) Service provider (bank)
d)Promotions
e) Others

XVIII. WHICH TYPE OF INTERNET BANKING SERVICES DO YOU

USE? (TICK ONE OR MORE)
a) ATM
b) Bill payment
c) Fund transfer
d) Credit card
e) Bank statement

XIX. RATE THE FOLLOWING INTERNET BANKING SERVICES.

SERVICES POOR BELOW AVERAGE GOOD EXCELLENT

AVERAGE

ATM
Fund transfer
Bill payment
Credit card
Bank statement

XX. WHAT ARE THE FACTORS WHICH AFFECTS YOUR DECISION

REGARDING INTERNET BANKING SERVICES? (RANK THE
FOLLOWING)
FACTORS 1 2 3 4 5
Safety & security

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 Updated
information
Easy accessibility

Place convenience

Time & cost saving

Transparency

XXI. PLEASE GIVE THE OPINION REGARDING INTERNET

BANKING THROUGH FOLLOWING DETAILS.

DETAILS STRONGLY DISAGRE NEUTRAL AGREE STRONGLY

DISAGREE E AGREE
Safety & security
Provide up to date
& accurate
information
24 hrs
accessibility
Better Rate
Time saving
Quick service
Variety of
features
& services that
are offered
Low Service
Charge
Human contact is
not essential
Convenience

XXII. WOULD YOU RECOMMENDED INTERNET BANKING

SERVICES TO OTHER?
a) Yes
b) No

xcix | P a g e
If you answered “no” then please give your response for following questions:

XXIII. WHAT ARE THE REASONS YOU DO NOT USE INTERNET

BANKING SERVICES? (TICK ONE OR MORE)
a) Unreliability
b) Difficulty to use
c) Lack of knowledge about internet banking services
d) Lack of human contact
e) Lack of safety & security
f) Costs
g) Others

XXIV. MANUAL BANKING IS MORE CONVENIENT THAN

INTERNET BANKING?
a) Strongly agree
b) Agree
c) Neutral
d) Disagree
e) Strongly disagree

XXV. DO YOU CONSIDER STARTING USING INTERNET

BANKING IN THE NEAR FUTURE?
a) Yes
b) No

c|Page
 FEEDBACK FORM

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