A

Project Report on
STUDY OF ONLINE SERVICES OFFER BY AXIS BANK

IN
PARTIAL FULFILMENT OF
BACHELOR OF BUSINESS ADMINISTRATION
(S.Y.B.B.A.)

Savitribai Phule Pune University

SUBMITTED TO

K.V. N NAIK SHIKSHAN PRASARAK SANSTHA’S

ARTS, COMMERCE AND SCIENCE COLLEGE
CANADA CORNER, NASHIK – 02

Under guidance of
Prof Shibani Paul

ACADEMIC YEAR
2020-2021
Prepared by
MAYUR SANJAY BANKAR (Seat no: - 07 )
 K. V. N. Naik Shikshan Prasarak Sanstha’s
Art’s, Commerce & Science College
Canada Corner, Nashik-422002 Website: -
www.kvnacs.org Phone: - 0253-2576692
NAAC Reaccredited ‘B’ Grade
…………………………………………………………………..

CERTIFICATE

This is to certify that, Mr./Ms. Mayur Sanjay Bankar of SYBBA CREDIT

PATTRN 2019 Class has Prepared & Submitted Exposure Report (Field

Visit Report) satisfactory for STUDY OF ONLINE SERVICES OFFER

BY AXIS BANK during the academic year 2020-2021 (Semester- IV)

and same has examined and signed by the in- charge.

In-charge Int. Examiner Ext. Examiner Principal

 Preface

Industrial visit make students understand the subject to its core. It also
gives idea to students about their job profile once they start working. Industrial
visit in the entire field have same procedure where students are given
introduction of the particular organization, they are taken along to all the
departments, and thus in charge of particular one's explains about it. Students
are asked to note down everything because at the end of visit, there is small Q
and A session which they need to undergo. Many organizations also asked their
students to write about the visit as a part of assignment.

This Project has been prepared as a part of the Pune University course
curriculum. The topic for this project “Industrial Exposure”, I found very
interesting and educative. I gained knowledge about some of the HR aspects
and also Retail Operations. A practical exposure of working in an organization;
although for a brief period will however benefit me in the long run. This
experience will be treasured by me always.

Most of the people are trying to engage themselves in this sector. Before
entering in this sector one should have knowledge of an overview of how this
industry and market operates. This project is carried out to translate the
theoretical knowledge of the HR, Industrial Relations &Labour Law subject in
to the practical field work.

Keeping this in mind, it is the matter of great privilege and satisfaction

for me to present this report before the readers. I am sure this attempt of
presentation will bridge the gap between theory and practice.
 ACKOWLEDGEMENT

It is a great pleasure to me in acknowledging my deep sense of gratitude

to all those who have helped me in completing this project successfully. First
of all,I would like to thank Savitribai Phule Pune University for providing me
an opportunity to undertake a project as a partial fulfillment of BBA degree. In
addition providing guidance in developing in my project.

I greatly appreciate the staff of the surveyed business unit, who

responded promptly and enthusiastically to my requests for frank comments
despite their congested schedules. I am indebted to all of them, who did their
bestirring improvements through their suggestions.

I would like to thanks Dr. Vasant Wagh (Principal), Mr. Sudam Bhabad
(HOD, & Project Guide) Ms. Neeta Sangale, Ms. Shibani Paul, Ms. Supriya
Pawar & department staff whose valuable guidance and encouragement at
every phase of the project has helped to prepare this project successfully.

All the faculties, office staff and library staff of Kr. V.N. NAIK College
Nasik and friends who helped me in some or other way in making thi s
project.

THANK YOU

PLACE: NASHIK Mayur S. Bankar

DATE: / /2020
 INDEX

CHAPTER TITLE PAGE NO

Chapter- 1 Introduction to Report

Chapter- 2 History
2.1 FEATURES OF E-BANKING

2.2 SERVICES PROVIDED BY E-

BANKING

2.3 Limitations of E Banking

2.4 ADVANTAGES OF E-BANKING
2.6 DISADVANTAGES OF E-
BANKING
2.7 Services Offered By Bank

2.8 ISSUE RELEATED TO ONLNE

BANKING

2.9 Online Banking Guidelines in India by

RBI
Chapter-3 Research Methodology

1. Primary data

2. Secondary data
Chapter - 4 SWOT ANALYSIS

Chapter- 5 Conclusion.

Chapter -6 Suggestions.

Chapter- 7 Bibliography.
 CHAPTER 1 : INTRODUCTION

The net banking, thus, now is more of a norm rather than an exception in many
developed countries due to the fact that it is the cheapest way of providing banking
services.

Internet banking refers to the use of the Internet as a remote delivery channel for
banking services. Such services include traditional ones, such as opening a deposit
account or transferring funds among different accounts, and new banking services,
such as electronic bill presentment and payment (allowing customers to receive
and pay bills on a bank’s Web site). Banks offer Internet banking in two main
ways. An existing bank with physical office can establish a Web site and offer
Internet banking to its customers as an addition to its traditional delivery channels.
A second alternative is to establish a “virtual,” “branchless,” or “Internetonly”
bank. The computer server that lies at the heart of a virtual bank may be housed
in an office that serves as the legal address of such a bank, or at some other
location. Virtual banks may offer their customers the ability to make deposits and
withdraw funds via ATMs or other remote delivery channels owned by other
institutions.

It's hardly great news that there has been tremendous growth in the use of the
Internet and other electronic facilities to process financial transactions. According
to the Federal Deposit Insurance Corp., transactional Web sites have more than
doubled each year for the past six years, growing from one in 1995 to nearly 2,500
in 2000. This growth is a reflection of the fact that over the past few years,
financial leaders have been considering various ways in which to allow their
customers to transact business using the Internet. This objective is now reaching
beyond the financial services industry into non-electronic business segments, such
as the building supply industry. Furthermore, this growth is likely to continue to
climb as the number of Internet users, Internet connection speed, and the number
of transactional Web sites continues to increase. The number of adults using PC
banking is also growing. With this growth, there is an increased awareness of the
benefits of using online transaction processing, thereby fueling the thought that all
business should be electronically facilitated.
 WHAT IS INTERNET BANKING ?

Internet Banking System is a system that has been developed in order to help clients
with the daily day-to-day transactions. Internet banking systems means that clients can
now do banking at the leisure of their homes. also known as online the system allows
both the transactional and non transactional features.
Online banking or interent banking allows customer to conduct financial transaction
on a secure website operated by the retail or virtual bank.

Consider that the consumer and the merchant are on either ends of the electronic
commerce value chain, with the authentication network and transaction processor
(bank) in the middle. Banks have traditionally been the trusted agents, have the largest
customer base, and have received the initial benefits from electronic commerce. Value
has begun a steady migration to the ends of the value chain. Customers can receive
and pay bills from one point using products from multiple issuers. Merchants can
influence and enhance the consumer experience by providing innovative and time-
saving means of doing business. Merchants can add value to the payment process, for
example, by offering discounted prices for electronic payment.
 Chapter – 2 HISTORY

1) HISTORY OF INDIAN BANK

The first bank in India, though conservative, was established in 1786. From
1786 till today, the journey of Indian Banking System can be segregated into
three distinct phases. They are as mentioned below: ·

PHASE I - Early phase from 1786 to 1969 of Indian Banks ·

PHASE II - Nationalization of Indian Banks and up to 1991 ·
PHASE III - Indian Financial & Banking Sector Reforms after 1991.

1. 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 shareholders banks, mostly Europeans
shareholders. 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 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 Central Banking
Authority. During those day’s 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 the traders.
2. 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.
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.

After the nationalization of banks, the branches of the public sector bank India
raised 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.
3. 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. 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.
2) HISTORY OF ONLINE BANKING

The term online banking was first started in 1980’s. The term online became
popular in the late '80s and referred to the use of a terminal, keyboard and TV (or
monitor) to access the banking system using a phone line. ‘Home banking’ can
also refer to the use of a numeric keypad to send tones down a phone line with
instructions to the bank. Online services started in New York in 1981 when four
of the cities major banks (Citibank , Chasemanhanttan , Chemical and
Manufacturers Hanover) offered home banking services using the videotex system
because of th commercial failure of videotex these banking services never become
popular expert in france where the use of videotext (minitel) was subsidized by
the telecom provider and the UK , where the prestle system was used . The UK’s
first home online banking services was set up by the Nottingham Building Society
(NBS) in 1983 .The system used was based on the UK's Prestel system and used
a computer, such as the BBC Micro, or keyboard (Tandata Td1400) connected to
the telephone system and television set. The system (known as 'Home link')
allowed on-line viewing of statements, bank transfers and bill payments. In order
to make bank transfers and bill payments, a written instruction giving details of
the intended recipient had to be sent to the NBS who set the details up on the
Home link system. Typical recipients were gas, electricity and telephone
companies and accounts with other banks. Details of payments to be made were
input into the NBS system by the account holder via Prestel. A cheque was then
sent by NBS to the payee and an advice giving details of the payment was sent to
the account holder. BACS was later used to transfer the payment directly.
Stanford Federal Credit Union was the first financial institution to offer online
internet banking services to all of its members in Oct, 1994. Later on it was
adopted by worldwide banks .
 3) HISTORY OF AXIS BANK

The bank was founded in December 1993 as UTI Bank, opening its registered office in
Ahmedabad and a corporate office in Mumbai. The bank was promoted jointly by the
Administrator of the Unit Trust of India (UTI), Life Insurance Corporation of India
(LIC), General Insurance
Corporation, National Insurance Company, The New India Assurance Company, The
Oriental
Insurance Corporation and United India Insurance Company. The first branch was
inaugurated on 2 April 1994 in Ahmedabad by Manmohan Singh, then finance minister
of India.

In 2001 UTI Bank agreed to merge with Global Trust Bank, but the Reserve Bank of
India (RBI) withheld approval and the merger did not take place. In 2004, the RBI put
Global Trust under moratorium and supervised its merger with Oriental Bank of
Commerce. The following year, UTI bank was listed on the London Stock Exchange.
In the year 2006, UTI Bank opened its first overseas branch in Singapore. The same
year it opened an office in Shanghai, China. In 2007, it opened a branch in the Dubai
International Financial Centre and branches in Hong Kong.

On 30 July 2007, UTI Bank changed its name to Axis Bank.

In 2009, Shikha Sharma was appointed as the MD and CEO of Axis Bank.

In 2013, Axis Bank's subsidiary, Axis Bank UK commenced banking operations.

On 1 January 2019, Amitabh Chaudhry took over as MD and CEO.

In year 2021,the Bank had reduced its stake in Yes Bank from 2.39 per cent to 1.96 per
cent.
 FEATURES OF E-BANKING

Axis Bank provides various internet banking facilities that help and ease the banking
experience of the Axis Bank account holders. At Axis Bank, we believe in providing
best banking services at your comfort. Axis Bank’s internet banking allows you do most
of your banking process online at your convenience. Below are some of the internet
banking features & services. Go through the Internet Banking features that make
internet banking services easy and understandable.

There are some features of E-Banking such as:

 Viewing account balances

 Viewing recent transactions

 Viewing images of paid cheque

 Ordering cheque books

 Transaction approval process

 Register utility billers and make bill payments

 Download periodic account statements

 Downloading applications for M-banking, E-banking etc.

 SERVICES PROVIDED BY E-BANKING

Axis bank offer to their customers following e-banking services:

1. Automated Teller Machines

2. Credit Cards

3. Debit Cards

4. Smart Cards

5. SMS Banking

6. Mobile Banking

7. Internet Banking

8. Telephone banking

9. Cheques Transaction Payment System

10. Electronic Fund Transfer (EFT) System

1. Automated Teller Machines

An automated teller machine (ATM) is an electronic banking outlet that allows

customers to complete basic transactions without the aid of a branch representative or
teller. Anyone with a credit card or debit card can access cash at most ATMs.

ATMs are convenient, allowing consumers to perform quick self-service transactions

such as deposits, cash withdrawals, bill payments, and transfers between accounts. Fees
are commonly charged for cash withdrawals by the bank where the account is located,
by the operator of the ATM, or by both. Some or all of these fees can be avoided by
using an ATM operated directly by the bank that holds the account.

ATMs are known in different parts of the world as automated bank machines (ABM)
or cash machines.
2. Credit Card

A credit card is a thin rectangular piece of plastic or metal issued by a bank or financial
services company, that allows cardholders to borrow funds with which to pay for goods
and services with merchants that accept cards for payment. Credit cards impose the
condition that cardholders pay back the borrowed money, plus any applicable interest,
as well as any additional agreed-upon charges, either in full by the billing date or over
time. An example of a credit card is the Chase Sapphire Reserve. (You can read
our Chase Sapphire Reserve credit card review to get a good sense of all the various
attributes of a credit card).

In addition to the standard credit line, the credit card issuer may also grant a separate
cash line of credit (LOC) to cardholders, enabling them to borrow money in the form of
cash advances that can be accessed through bank tellers, ATMs or credit card
convenience checks. Such cash advances typically have different terms, such as no
grace period and higher interest rates, compared to those transactions that access the
main credit line. Issuers customarily pre-set borrowing limits, based on an individual's
credit rating. A vast majority of businesses let the customer make purchases with credit
cards, which remain one of today's most popular payment methodologies for buying
consumer goods and services
3. Debit Card

A debit card is a payment card that deducts money directly from a consumer’s checking
account when it is used. Also called “check cards” or "bank cards," they can be used to
buy goods or services; or to get cash from an automated teller machine or a merchant
who'll let you add an extra amount onto a purchase.
4. Smart Cards

A chip card is a standard-size plastic debit or credit card which contains an embedded
microchip as well as a traditional magnetic stripe. The chip encrypts information to
increase data security when making transactions at stores, terminals, or automated teller
machines (ATMs). Chip cards also are known as smart cards, chip-and-PIN cards, chip-
and-signature cards, and the Europay, MasterCard, Visa (EMV) card.
5. SMS Banking

SMS banking' is a form of mobile banking. It is a facility used by some banks or other
financial institutions to send messages (also called notifications or alerts) to customers'
mobile phones using SMS messaging, or a service provided by them which enables
customers to perform some financial transactions using SMS.

Mobile Banking is now easier than ever with Axis Bank’s SMS Banking. By
following the SMS banking instructions and keywords, you can do everything from
Balance Enquiry to updating your PAN number. These instructions and keywords are
easy to follow and bring the facilities of a bank to your fingertips.
6. Mobile Banking

Mobile banking is the act of making financial transactions on a mobile device (cell
phone, tablet, etc.). This activity can be as simple as a bank sending fraud or usage
activity to a client’s cell phone or as complex as a client paying bills or sending money
abroad. Advantages to mobile banking include the ability to bank anywhere and at any
time. Disadvantages include security concerns and a limited range of capabilities when
compared to banking in person or on a computer.
7. Internet Banking

Internet banking allows a user to conduct financial transactions via the Internet. Internet
banking is also known as Online banking or web banking.

Online banking offers customers almost every service traditionally available through a
local branch including deposits, transfers, and online bill payments. Virtually every
banking institution has some form of online banking, available both on desktop versions
and through mobile apps
8. Telephone banking

Telephone banking is a service provided by a bank or other financial institution, that

enables customers to perform over the telephone a range of financial transactions which
do not involve cash or Financial instruments, without the need to visit a bank branch or
ATM.
9. Cheques Transaction Payment System

A payment cheque is a document, written and signed by a customer, instructing a bank

or building society to debit your account and pay another person or organisation. ...
Customers have full control over when and how much they pay when using cash
or cheques.
10. Electronic Fund Transfer (EFT) System

The Electronic Fund Transfer Act (EFTA) is a federal law that protects
consumers when they transfer funds electronically, including through the use of debit
cards, automated teller machines (ATMs), and automatic withdrawals from a bank
account. Among other protections, the EFTA provides a way to correct transaction
errors and limits the liability resulting from a lost or stolen card.
 Limitations of E Banking:

 Problems of security:

Security and privacy aspects are major issue incase of E-Banking transaction.
Various sites are not properly locked at to ensure weather customer's money is safe
in cyber world or not.

 High cost:

The infrastructural cost of providing E-Banking facility is very high. The banks not
only have to automate front-end services but also back office services, which
involve high cost.

 Lack of awareness:

Another great hindrance is lack of awareness because effective and wide media
efforts in publishing Internet banking need to be emphasized.

 Lack of computerization:

Lack of computerization and low density of telephone lines is also a bottleneck for
online banking. In India, out of 65000 bank branches, only 5000 branches are
computerized

 Wrong assumption by people:

Many people are away from net banking on the assumption that it is more expensive
than the traditional method of dealing with bank transaction they still prefer going
to bank to perform transactions
 ADVANTAGES OF E-BANKING

1. Permanent access to the bank.

2. Access anywhere.

3. Less time consuming.

4. Security of account.

5. Online Bill Payment

6. Very safe and secure method.

7. Provides ways for international banking

8. Lower transaction costs / general cost reductions

9. Helps to transfer the money immediately and accurately

DISADVANTAGES OF E-BANKING

1. Problem of security

2. Lack of awareness

3. Lack of computerization

4. High cost

5. Wrong assumption by people

6. Site disruption

7. Site navigation

8. Delayed Statement

9. User apprehension
Services Offered By Bank

Axis Bank is offering the following services through Internet Banking and you
can avail these facilities from your place using Internet connectivity, It's banking made
available at your doorsteps.

Axis Bank provides various internet banking facilities that help and ease the
banking experience of the Axis Bank account holders. At Axis Bank, we believe in
providing best banking services at your comfort. Axis Bank’s internet banking allows
you do most of your banking process online at your convenience. Below are some of
the internet banking features & services. Go through the Internet Banking features that
make internet banking services easy and understandable.

1. Stop Payment of Cheque :-

2. Issue of Demand Draft.

3. Issue of Cheque Book.

4. Deposit Account Opening

5. Electronic Clearing Services-ECS :-

Electronic Clearing Service

ECS is an electronic clearing system that facilitates paperless credit / debit
transaction directly linked to your account and also provides for a faster method of
effecting periodic and repetitive payments.

Benefits of ECS (Debit)

Through ECS (Debit), you can pay all your Utility bills
(electricity/telephone/Mobile bills, credit cards, etc), Mutual Fund (SIP), Insurance
 Premium, Loan Installments, credit card payments, payments of donations and other bill
payments.

How will you gain from ECS?

 Non-issuance of multiple cheques
 Timely payment of bills /installments /premium without remembering the due dates
 No late payment charges
For your convenience, Axis Bank has tied up with various service providers across the
country.
All you need to do is to register for bill payments with your service provider, banks and
financial institutions by providing details such as name, account number, name of the
bank /branch, MICR code, etc.

6. ATM BANKING :-

Automated Teller Machines, popularly referred to as ATMs, are one of the most useful
advancements in the banking sector. ATMs allow banking customers to avail quick
self-serviced transactions, such as cash withdrawal, deposit, and fund transfers.

What is an Automated Teller Machine (ATM) ?

ATMs enable individuals to make banking transactions without the help of an actual
teller. Also, customers can avail banking services without having to visit a bank branch.
Most ATM transactions can be availed with the use of a debit or credit card. There are
some transactions that need no debit or credit card.

Why Automated Teller Machine (ATM) is Important?

The evolution of the banking sector has made financial lives easier for customers. The
first-ever automated teller machine was set up at London, United Kingdom, in the year
1967. In just over 50 years, the ATMs are now seen in use in every country.

The existence of ATMs has alleviated the need to visit a bank branch to make simple
banking transactions, such as cash deposit and cash withdrawal. Gone are the days when
people needed to visit bank branches to complete these basic transactions within the
bank operation hours.

Another significant use of ATMs is that they are found almost everywhere. In India,
almost every neighborhood in major cities, such as Delhi, Mumbai, Bengaluru, and
Hyderabad has at least one ATM. Also, ATMs allow inter-bank customers to
transact. For instance, a customer of ABC bank can make transactions in an ATM
set up by XYZ bank.

7. DIGITAL CASH :-

Digital cash is a system of purchasing cash credits in relatively small amounts, storing
the credits in your computer, and then spending them when making electronic purchases
over the Internet. Theoretically, digital cash could be spent in very small increments,
such as tenths of a cent (U.S.) or less. Most merchants accepting digital cash so far,
however, use it as an alternative to other forms of payment for somewhat higher price
purchases. There are several commercial approaches to digital cash on the Web. Among
these are eCash from DigiCash and Cybercash.

Digital cash can also be stored on an electronically sensitive card. See smart card and
micropayment.
8. SMART CARD

A smart card is a physical card that has an embedded integrated chip

that acts as a security token. Smart cards are typically the same size
as a driver's license or credit card and can be made out of metal or
plastic
 9. MOBILE BANKING

Mobile banking is the act of making financial transactions on a mobile

device (cell phone, tablet, etc.). This activity can be as simple as a bank
sending fraud or usage activity to a client’s cell phone or as complex as a
client paying bills or sending money abroad. Advantages to mobile
banking include the ability to bank anywhere and at any time.
Disadvantages include security concerns and a limited range of capabilities
when compared to banking in person or on a computer.

Currently, mobile banking’s become easier with the development of

cellular mobile applications. Clients are now able to check their
balances, view their bank statements online, make transfers, and even
carry out prepaid service purchases.

EXAMPLE OF MOBILE BANKING

 ➢ Mobile Banking over mobile applications

➢ Mobile Banking over SMS

➢ Mobile Banking over Unstructured Supplementary Service Data

Mobile Banking – Services Available

Mobile banking is useful to customers in the following ways:

1. Access to Account Information

Information is power. And thus, knowing your exact bank balance is important. This
helps you in better management of your funds. And thus, this is the primary mobile
banking service provided by any bank. You can check the following:
• View account balance (balance enquiry)
• Transaction history
• e-statement of account
• Loan statements
• Card statements
• e-Passbooks
2. Transactions
Making payments and transferring money from one account to another is the most basic
banking activity. Therefore it only makes sense that these are the most used and in-
demand mobile banking services. You can transfer funds to anyone by adding them as
beneficiaries or simply via Unified Payments Interface or UPI.
• Bank to bank transfers
• Transfer of funds to self
• Payments to third parties (rent payments, bill payment, etc.)
• Giving standing instructions for periodic payments
• Payments via NEFT/IMPS/RETG/UPI/MMID
3. Investments
• Opening fixed deposit/recurring deposits

• Mutual fund investments

• Portfolio management services (e.g. SBI Capital Securities)

4. Other Services
Apart from the account summary, bill payments, fund transfers and investments, there
are other services that a customer requires for smooth banking experience. Also, there
may be times when you have some grievances and due to lack of time, are not able to
address. For such extra services, you can always resort to your bank’s mobile banking
and find solutions to your complaints or queries. These services include:
• ATM locators
• Branch locators
• Lodging complaint/ tracking applications
• Ordering new cheque book
• Cancelling/stopping an issued cheque

Mobile Banking over SMS

Along with mobile apps, most banks offer mobile banking services over SMS.
This service is useful for those who do not have smartphones and/or internet
connection. Customers need to register their mobile number with their bank in order
to avail SMS banking.
Services Offered by SMS Banking
• Balance Enquiry
• Get mini-statement
• Transfer of funds to/from self-accounts (e.g. savings A/c to current A/c)
• Block ATM card or a credit card
• Enquiry for forex rates
• Enquiring about current interest rates (e.g. FD rates and savings rates)
These services are carried out by push/pull messages. Push messages mean when the
bank initiates a communication, often reminding about payment or notification about a
withdrawal. OTP or One-Time Password is also a type of push message that falls within
the periphery of mobile banking.

Pull messages are those messages that are initiated by the customer. These can be for
account balance enquiry and for cancelling an issued cheque, etc.

For instance, to check the available balance in their account, they may have to send an
SMS in the format: AVAIL BAL XXXX where XXXX is the last 4 digits of the account
number. The bank replies with an SMS with the current available balance in the
account.

Mobile Banking over USSD

USSD or Unstructured Supplementary Service Data is a type of

communication via which
one can exercise basic banking services. There is no need for a smartphone or an
internet connection for this service. It allows services like balance enquiry and transfer
of funds.
*99# – a USSD based mobile banking service, has been launched by NPCI which is
supported in 51 leading banks in India. The following services are offered by *99#
USSD payment option:
• Balance enquiry
• Mini statement
• Transfer of funds via
• A/c no
• Aadhaar
• MMID
• Change MPIN
• Generate OTP
• Know MMID (Mobile Money Identifier – a 7-digit unique no. given by the
respective bank)

Importance of Mobile Banking

Mobile banking allows consumers to be able to access banking services from anywhere.
Businesses and business owners are now able to save time by making use of mobile
applications to process their payments or even receive funds from clients directly to
their phone numbers. It is particularly popular among small to medium-sized
enterprises (SMEs).
With mobile technology, banks are able to cut down on operational costs while
still maintaining client satisfaction. The fact that any client of a bank can make
use of their
app to request a service, such as opening an account or even the ability to
schedule debit
orders or other payments from an application, allows for larger transactional
volumes, eventually driving business growth
ISSUE RELEATED TO ONLNE BANKING

Online Banking Risks

There are four main types of attacks that are prevalent when you use online banking
services.

1. Phishing
Having an online banking account, you might fall victim to phishing. This tactic
generally involves tricking somebody into clicking a link in an email message. The link
often downloads software to a computer that can be used to gather sensitive information
such as usernames and passwords.
Alternatively, the link may take a user to what looks like a legitimate website. Once
there, the website asks for confidential information that can be used by hackers to gain
access to other accounts, such as email.

2. Identity Theft
Even if hackers do not steal from your account, you can still have your account details
compromised in the case of an identity theft. This includes your personal information,
such as your social security number and other identifying data. These data could be
used to hack into your other accounts.
Identity theft can occur in a variety of ways. Online your social security number and
other confidential information can be compromised. As noted above, a phishing attack
is a common method used by thieves.
Offline, however, your identity can be compromised, too. Whether it’s digging through
trash or stealing your wallet, thieves have several ways to access confidential
information.
 4. Keylogging

If you access your online banking site on public networks, such as Internet cafes or
public Wi-Fi, there is a chance that you could fall prey to keylogging. Keylogging
involves a software recording your keystrokes and using these logs to get your account
details. Keylogging may also be carried out using video cameras that record your
keystrokes.

5. Pharming

This might be a little more difficult for hackers to carry out, but it does happen.
Pharming occurs when hackers are able to hijack a bank’s URL so that when you try to
access your bank’s website, you get redirected to a bogus site that looks like the real
thing.

What to Do
So how do you deal with all these risks? The Federal Deposit Insurance Corporation
sets forth the things that every online banking customer should do. These steps should
ensure that you have adequate protection from falling victim to these hacking tactics.

1. Confirm your online bank’s legitimacy

You should be able to know if your online bank is legitimate by reading the information
found on the site and whether or not it is insured with the FDIC. The FDIC has a tool
that let’s you search for banks,

2. Be very careful with copycat Web sites

Be sure that you do not fall prey to sites that use a name that is very similar to your
online bank. For example, BankofAnerica.com or Citigrop.com.
When you receive an e-mail purporting to be from your bank, don’t click any links in
the email. Instead, type in the url of your bank and login. If your bank is really trying
to contact you, you’ll likely find a message when you access your account.
Alternatively, call the number on the bank of your debit card or latest bank statement.
3. Learn more about your bank’s security system
You should know how your bank encrypts your private information. When you are
accessing the Web site, you should find a small “lock” or “key” icon to tell you that the
site and your transactions are secure.
You should be able to use PINs and passwords when you access your account online.
Lastly, do not send personal information over e-mail. Under no circumstances would
your bank ask for personal data over e-mail.

4. Protect your computer

Hacking attacks are not always directed at banks. Because many such attacks are
directed at customers, you will do well if you have the latest virus and malware
scanning software installed on your computer. You should also ensure that all the
software you use on your computer has been patched with the latest security updates.
In addition to this, you should not get lazy when it comes to online banking. Some
banking Web sites have an option that offers to “remember your computer.” Choosing
this option would allow you to bypass some security questions if the bank’s system
recognizes your IP address. The problem is that hackers can spoof your IP address and
make your bank think that the hacker’s computer is really yours.
In short, do not enable this feature. Yes, you will end up answering more security
questions, but it is also more secure.
As in everything you do, take everything with a grain of salt. Do not click links on e-
mails, do not talk to strangers, do not download anything from people you do not trust,
and look both ways before crossing the street.
 Online Banking Guidelines in India by RBI

 The bank should also submit a security policy covering recommendations of

RBI and a certificate from an independent auditor that the minimum
requirements prescribed have been met.
 Banks will report to RBI every breach or failure of security systems and
procedure
 The guidelines issued by RBI on Risks and Controls in Computers and
Telecommunications’ should be adhered to.
 Only institutions who are members of the cheque clearing system in the country
were permitted to participate in Inter-bank payment gateways for Internet
payment. Each gateway must nominate a bank as the clearing bank to settle all
transactions. Payments effected using credit cards, payments arising out of cross
border e-commerce transactions and all intra-bank payments (i.e., transactions
involving only one bank) were excluded for settlement through an inter-bank
payment gateway
 All settlement should be intra-day and as far as possible, in real time. However
Inter-bank payment gateways must have capabilities for both net and gross
settlement
 SSL / 128 bit encryption must be used as minimum level of security.
 Banks must make mandatory disclosures of risks, responsibilities and liabilities
of the customers in doing business through Internet
 Banks must ensure that KYC guidelines are followed
 Banks are permitted to offer Internet based foreign exchange services, for
permitted underlying transactions, in addition to the local currency products.
Internet based platform for dealing in foreign exchange, should allow only
reporting and initiation of foreign exchange related transactions, with the actual
trade transactions being permitted only after verification of physical documents.
Banks should comply with FEMA regulations in respect of instructions
involving cross-border transactions
 banks are permitted internet based operations on Rupee Vostro Accounts
maintained by exchange houses or banks outside India with them, provided the
banks in India ensure that the software will prevent any unauthorised operation
 Banking Ombudsman Scheme 2006 included deficiencies arising out of internet
banking. A customer may lodge a complaint against the bank for its non-
adherence to the provisions of the fair practices code for lenders or the Code of
Bank’s Commitment to Customers issued by the Banking Codes and Standards
Board of India (BCSBI)
 All licensed StCBs, DCCBs, UCBs and RRBs which have implemented Core
Banking Solution (CBS) and migrated to Internet Protocol Version 6 (IPv6) can
offer Internet Banking (View only) facility to their customers, without prior
approval of RBI. The cooperative banks offering Internet Banking (View only)
facility to their customers should ensure that the facility is strictly for non-
transactional services such as balance enquiry, balance viewing, account
statement download, request for supply of cheque books, etc. and no online
fund-based transactions are allowed.
 All licensed StCBs, DCCBs and UCBs which have implemented CBS and have
also migrated to Internet Protocol Version 6 (IPv6) and fulfilling the following
criteria may offer Internet Banking with transactional facility to their customers
with prior approval of RBI:
 CRAR of not less than 10 per cent
 Net worth is Rs.50 crore or more as on March 31 of the immediate preceding
financial year
 Gross NPAs less than 7 % and Net NPAs not more than 3%
 The bank should have made a net profit in the immediate preceding financial
year and overall, should have made net profit at least in three out of the
preceding four financial years.
 It should not have defaulted in maintenance of CRR/SLR during the immediate
preceding financial year.
 It has sound internal control system with at least two professional directors on
the Board
 Chapter – 3 Research methodology :

Primary Data :

Primary data is a type of data that is collected by researchers directly from main sources
through interviews, surveys, experiments, etc. Primary data are usually collected from
the source—where the data originally originates from and are regarded as the best kind
of data in research.

The sources of primary data are usually chosen and tailored specifically to meet the
demands or requirements of a particular research. Also, before choosing a data
collection source, things like the aim of the research and target population need to be
identified.

For example, when doing a market survey, the goal of the survey and the sample
population need to be identified first. This is what will determine what data collection
source will be most suitable—an offline survey will be more suitable for a population
living in remote areas without internet connection compared to online surveys.

Examples of Primary Data

 Market Research

This is an important aspect of business strategy that involves the process of gathering
information about the target market and customers. The data gathered during market
research is primary as it is tailored specifically to meet the business needs.

An organization doing market research about a new product (say phone) they are about
to release will need to collect data like purchasing power, feature preferences, daily
phone usage, etc. from the target market. The data from past surveys are not used
because the product differs.

 Student Thesis

When conducting academic research or a thesis experiment, students collect data from
the primary source. The kind of data collected during this process may vary according
to the kind of research being performed—lab experiments, statistical data gathering,
etc.
For example, a student carrying out a research project with the aim of finding out the
effect of daily intake of fruit juice on an individual's weight will need to take a sample
population of 2 or more people, feed them with fruit juice daily and record the changes
in their weight. The data gathered throughout this process is primary.

 Trauma Survivors

Although people react differently to trauma, there is usually a trait common to people
who have gone through the same kind of trauma. The research aimed at finding out how
victims of sexual abuse overcame the traumatic experience will include interviewing
the survivors, sending them surveys, or any other primary source of data collection.

Experiences differ and every situation is unique. Therefore, using secondary data may
not be the best option in this case.
Secondary Data :

Secondary data is the data that has already been collected through primary sources and
made readily available for researchers to use for their own research. It is a type of data
that has already been collected in the past.

A researcher may have collected the data for a particular project, then made it available
to be used by another researcher. The data may also have been collected for general use
with no specific research purpose like in the case of the national census.

A data classified as secondary for a particular research may be said to be primary for
another research. This is the case when a data is being reused, making it a primary
data for the first research and secondary data for the second research it is being used
for.

Sources of Secondary Data

Sources of secondary data includes books, personal sources, journal, newspaper,

website, government record etc. Secondary data are known to be readily available
compared to that of primary data. It requires very little research and need for manpower
to use these sources.

With the advent of electronic media and the internet, secondary data sources have
become more easily accessible. Some of these sources are highlighted below.

 Books

Books are one of the most traditional ways of collecting data. Today, there are books
available for all topics you can think of. When carrying out research, all you have to
do is look for a book on the topic being researched on, then select from the available
repository of books in that area. Books, when carefully chosen are an authentic source
of authentic data and can be useful in preparing a literature review.

 Published Sources

There are a variety of published sources available for different research topics. The
authenticity of the data generated from these sources depends majorly on the writer and
publishing company.

Published sources may be printed or electronic as the case may be. They may be paid
or free depending on the writer and publishing company's decision.

 Unpublished Personal Sources

This may not be readily available and easily accessible compared to the published
sources. They only become accessible if the researcher shares with another researcher
who is not allowed to share it with a third party.

For example, the product management team of an organization may need data on
customer feedback to assess what customers think about their product and improvement
suggestions. They will need to collect the data from the customer service department,
which primarily collected the data to improve customer service.

 Journal

Journals are gradually becoming more important than books these days when data
collection is concerned. This is because journals are updated regularly with new
publications on a periodic basis, therefore giving to date information.

Also, journals are usually more specific when it comes to research. For example, we
can have a journal on, "Secondary data collection for quantitative data" while a book
will simply be titled, "Secondary data collection".

 Newspapers

In most cases, the information passed through a newspaper is usually very reliable.
Hence, making it one of the most authentic sources of collecting secondary data.

The kind of data commonly shared in newspapers is usually more political, economic,
and educational than scientific. Therefore, newspapers may not be the best source for
scientific data collection.

 Websites

The information shared on websites are mostly not regulated and as such may not be
trusted compared to other sources. However, there are some regulated websites that
only share authentic data and can be trusted by researchers.

Most of these websites are usually government websites or private organizations that
are paid, data collectors.

 Blogs

Blogs are one of the most common online sources for data and may even be less
authentic than websites. These days, practically everyone owns a blog and a lot of
people use these blogs to drive traffic to their website or make money through paid ads.
Therefore, they cannot always be trusted. For example, a blogger may write good things
about a product because he or she was paid to do so by the manufacturer even though
these things are not true.

 Diaries

They are personal records and as such rarely used for data collection by researchers.
Also, diaries are usually personal, except for these days when people now share public
diaries containing specific events in their life.

A common example of this is Anne Frank's diary which contained an accurate record
of the Nazi wars.

 Government Records

Government records are a very important and authentic source of secondary data. They
contain information useful in marketing, management, humanities, and social science
research.

Some of these records include; census data, health records, education institute records,
etc. They are usually collected to aid proper planning, allocation of funds, and
prioritizing of projects.

 Podcasts

Podcasts are gradually becoming very common these days, and a lot of people listen to
them as an alternative to radio. They are more or less like online radio stations and are
generating increasing popularity.

Information is usually shared during podcasts, and listeners can use it as a source of
data collection.

Some other sources of data collection include:

 Letters
 Radio station
 Public sector records.
 Chapter - 4 SWOT ANALYSIS

 Strength

 Customer access to information 24 hours a day

 Timely access to information

 Ability to offer a customer more than one method of retrieving informa

Sophisticated technology systems

 Diversity helps to capture different types of market. The ability to cut internal
cost due to advanced technology

 Increased efficiency due to automation

 Increased accuracy of banking transaction.

 Weakness

 High cost of service Continual wants of customers

 wants and needs Hostile feelings of employees due to possible pending layoffs
due to automation

 Multiple option for the customers Initial investment in technology will be

expensive

 Opportunities

 The ability to have a larger customer base

 Global expansion This is an enormous market which will be a great opportunity

in the future

 The ability to take advantage of the growing opportunity of internet banking

 Threats

 Continual changing technology.

 Uncertainty of the banking industry.

 Competition from the lower price operation.

 Possible failure of product due to non-acceptance of customers

 FINDINGS

From my survey, I could come to know that there is awareness of Online Banking to
the customer Axis bank

In the December quarter, the bank reported gross NPA and net NPA at 3.44% and
0.74% respectively as against 4.18% and 0.98% during the September quarter. The
restructured loans as at 31st December, 2020 stood at ₹2,709 crore that translates to
0.42% of the gross customer assets, the bank said.

The bank’s operating profit for the quarter grew 6% year-on-year to ₹6,096 crore. The
core operating profit for the quarter grew 10% year-on-year to ₹5,754 crores.

The private lender's net interest income, the difference between interest earned and
interest, rose 14% year-on-year to ₹7,372.7 crore. NII in Q3FY20 was at ₹6,452.98
crore. NII before interest reversals increased 19% YOY to ₹7,987 crore, the bank said
in the filing. Net interest margin (NIM) for Q3FY21 was 3.59% as against 3.57% for
Q3FY20. NIM before interest reversals stood at 3.89%, the bank added.

Provisions in the quarter under review increased 32.7% year-on-year to ₹4,604.28

crore, the bank said in the filing.

In the December quarter, the bank reported gross NPA and net NPA at 3.44% and
0.74% respectively as against 4.18% and 0.98% during the September quarter. The
restructured loans as at 31st December, 2020 stood at ₹2,709 crore that translates to
0.42% of the gross customer assets, the bank said.

Commenting on the bank's performance in Q3, Amitabh Chaudhry, MD&CEO, Axis

Bank said, “As the economy turns around, we see fresh enthusiasm and positivity
returning to both retail and corporate business. Digital has been one of our biggest
strengths and we have fortified it further. With new collaborations with the best brands
in their respective fields, we have rolled out some of the most innovative products and
services for our customers, with unique features and benefits."
Loan book (including TLTRO investments) grew by 9% year-on-year to ₹600,835 crore
while retail disbursements in Q3FY21 stood at all-time highs, the lender said. Corporate
loans (including TLTRO investments) reported 11% year-on-year increase, the lender
said. Axis Bank’s balance sheet improved 15% YOY and to ₹9,38,049 crore as on 31st
December 2020. The total deposits grew by 11% on period end basis and by 8% YOY
on quarterly average balance (QAB) basis. On a QAB basis, savings account deposits
jumped 14% YOY, retail savings deposits increased 20% YOY, current Account
deposits rose 15% YOY and retail term deposits grew 17% YOY. CASA and Retail
Term Deposits on QAB basis put together increased 16%YOY, the lender said.
 Chapter - 5 CONCLUSION

 E-Banking Enable Better Business Anywhere Anytime.

 E-Banking represent a tremendous opportunity India.

 However, Factors such as illiteracy in India, availability of cheaper labor force,

reluctance to change by the existing staff of banks and slow growth of technology
in India are responsible for slow growth of e-banking in India.

 E-banking has become a necessary survival weapon. Today, the click of the mouse
offers customers banking services at a much lower cost and also empowers them
with unprecedented freedom in choosing vendors for their financial service needs.

 Younger generation is beginning to see the convenience and benefits if e-banking.

In years to come, e-banking will not only bel acceptable mode of banking but will
be preferred mode of banking.

 The international scope of E-banking provides new growth perspectives and

Internet business is a catalyst for new technologies and new business processes.
 Chapter - 6 : Suggestions.

 Mostly service class persons prefer the axis bank in the comparison of business
and students and other class persons thus it needs to promote its product and
services that are offered mainly for the business class people and students.
Because these two class forms major users of the banking services.

 Axis bank is normally not using properly for the current account so its popularity
ratio is quite down. This bank normally using for the long term planning like
saving and FD.

 This bank is not investing more into the marketing sector so I will suggest that
some of the part of income it investing in the advertising and marketing sector.

 Into the comparison of other bank its performance is quite good but not an
effective so this may be doing the rates were down with some other facilities.
 Chapter - 7 : Bibliography.

Websites .

 WWW.AXISBANK.COM
 WWW.ECONOMITIMES.COM
 WWW.RBI.ORG
 WWW.HDFCBANK.COM
 WWW.ICICIBANK.COM