BUSINESS RESEARCH METHODS

REPORT
ON

ONLINE PAYMENT AND BANKING

TRANSFER
SUBMITTED BY

Vedant Anil (G -79)

Khadatkar
Vihasi satish (G -80)
Gramopadhye
Vijay Satishkumar (G-81)
Choudhari
Vinayak Sanjay (G-82)
Rathod
Yash Avinash Kirve (G-83)
Yogita Prabhakar (G-84)
Burse

UNDER THE

GUIDANCE OF PROF.

PRADIP THOMBARE

SUBMITTED TO

SAVITRIBAI PHULE UNIVERSITY

FOR THE COURSE

MASTERS IN BUSINESS ADMINISTRATION

(2021-2023)

SINHGAD INSTITUTE OF MANAGEMENT

VADGAON BK, PUNE 411041
 INDEX

Sr. TITLE PAGE

No. No.
1 INTRODUCTION 2
2 SIGNIFICANCE OF 3
STUDY
3 RESEARCH OJECTIVE 4
4 LITERATURE REVIEW 5-8
5 RESEARCH 9
METHODOLOGY
6 DATA ANALYSIS 10-26
7 FINDINGS 27
8 SUGGESTIONS 28
9 CONCLUSION 29
10 BIBLIOGRAPHY 30
 INTRODUCTION

Bank transfer

The need for payments and settlements is as old as the need for goods
and services. The earliest known Payment and Settlement System (PSS)
was the barter system facilitating exchange through goods and / or
services. With the concept of money, people progressed to settling their
economic transactions using currency notes and coins. The evolution of
the banking system and advent of bank accounts led to an easy and safe
method for making payments by transfer of money through bank accounts.
This transaction required a payment instrument, and cheque emerged as
the primary instrument for payment transactions. Thus, started the tale of
payment systems.

A bank is a financial institution that accepts deposits from the public and creates
a demand deposit while simultaneously making loans. Lending activities can be
directly performed by the bank or indirectly through capital markets

Because banks play an important role in financial stability and the economy of a
country, most jurisdictions exercise a high degree of regulation over banks.
Most countries have institutionalised a system known as fractional reserve
banking, under which banks hold liquid assets equal to only a portion of their
current liabilities. In addition to other regulations intended to ensure liquidity,
banks are generally subject to minimum capital requirements based on an
international set of capital standards, the Basel Accords.

All Payment Methods: Bank Transfer.

Bank transfers are a popular, cost-efficient payment method leveraged around
the world. They allow shoppers to make payments online directly from their
bank account to a merchant’s bank account. Bank transfers are typically
processed within 3 to 4 business days and are limited to bank accounts within
the same country, with the exception of SEPA (Single Euro Payments Area)
where shoppers are able to leverage bank transfers across countries in Europe.
Most often bank transfer payments are used by shoppers to pay bills.

A payment system is any system used to settle financial transactions through the
transfer of monetary value. This includes the institutions, instruments, people,
rules, procedures, standards, and technologies that make its exchange possible.
A common type of payment system, called an operational network, links bank
accounts and provides for monetary exchange using bank deposits. Some
payment systems also include credit mechanisms, which are essentially a
different aspect of payment.

The beginning of e-payment systems

Along with internet development, pioneer online payment services started to
operate in the first half of the 90s. In 1994 Stanford Federal Credit Union was
established – the first financial institution which offered online internet banking
services to all of its members. However, first online payment systems weren’t
user-friendly at all and required specialized knowledge of encryption or data
transfer protocol. What is more, the systems weren’t adapted to the constant
changing of users’ number and their transactions.

India sees 76% growth on online payment in last 12 months according to mode
analysis of the volume of digital payment the share of UPI has steadily climbed
up from 27.38% in 2019-2020 to 79.1% in 2021-2022.

Growth in volume of UPI transaction in September 2020 volume in September

2021 more 103% growth in value of UPI transaction is 2021 is 9
85% compared with same month last year. While cash continues to grow is
economy with currently in circulation at over 29.1 lakh core UPI credit card.

An efficient payment system promotes market efficiency and reduces

the cost of exchanging goods and services. By the same token, its failure
can result in loss of confidence in the financial system and in the very use
of money.

In India, the oversight of the payment systems is entrusted to the

Reserve Bank of India (RBI) where the Board for Regulation and Supervision
of Payment and Settlement Systems (BPSS), chaired by the Governor,
RBI, spearheads this responsibility. The creation of a new department viz.,
Department of Payment and Settlement Systems (DPSS) by RBI in the
year 2005 to focus exclusively on payment and settlement systems, and
subsequent legislation of the Payment and Settlement Systems Act, 2007
(PSS Act) set the stage for a new era in the history of payment systems
in the country.

Online banking, also known as internet banking, web banking or home banking,
is an electronic payment system that enables customers of a bank or other
financial institution to conduct a range of financial transactions through the
financial institution's website. The online banking system will typically connect
to or be part of the core banking system operated by a bank to provide
customers access to banking services in place of traditional branch banking.
Online banking significantly reduces the banks' operating cost by reducing
reliance on a branch network, and offers greater convenience to customers in
time saving in coming to a branch and the convenience of being able to perform
banking transactions even when branches are closed. Internet banking provides
personal and corporate banking services offering features such as viewing
account balances, obtaining statements, checking recent transactions,
transferring money between accounts, and making payments.
Some banks operate as a "direct bank" (also called " neobanks " or "virtual
banks"), where they operate entirely via internet banking.
 • Social Medias are becoming more popular among university
students and are a new way of
• Spending free time and serve as a separate channel for
finding the necessary information, both
• Educational and entertaining. Therefore, it is urgent to
examine the question of what effect social
• Networks have on their users, in particular, how the use of
social networks affects the academic.
• Success of students. This study will discover this information,
giving the researchers an
Opportunity to explore and gain new knowledge. Furthermore, it
can be used for future studies.

The main objective behind the selection of this topic is to analyse the
effects of social media on youth and society. How they use it in daily life
and its impact on society through different angles like entertainment,
communication, interaction, enhancing skills, etc.

• To determine the usage of specific social networking sites by the youth.

• To analyse the credibility over the information received from
social networking sites.
• To understand the pros and cons of social networking sites known
by the youth.
• To study the influence of social networking sites on the
personal and professional life of the youth.

As Youth and Teens are the builder of nation, and in this era they
are grown up as part of the Net Generation. They can easily use the
latest technology in various forms, including smart phones, mp3
 players, digital cameras, video games, iPads, electronic readers, and
personal computers. Social Media has its both positive and negative
effects. This research paper is based on secondary data collected
from the online sources, different research papers and from the
Google search engine. We also used some data gathering tools (On
Site Observations, Interviews, and Questionnaires) for gathering
information about the usage of social media in general. In this paper
we study various social networking sites, various areas (Business
and Commerce, Education, Health and medical Education etc) in
which social media is extensively used in these days with its
positive and negatives aspects and guidelines for handling the
negative effects of social media on society.

IMPACT OF SOCIAL MEDIA ON SOCIETY

As we all are well aware of social media to facilitate a massive

impact on our society. Some social media destinations have
changed the way where individuals convey and mingle on the web.
Person to person communication destinations render the open door
for individuals to reconnect with their old companions, partners and
mates. Person to person communication destinations render the
opportunities for individuals to reconnect with their old
companions, partners and mates.[3] It additionally causes
individuals to influence new companions, to share content, pictures,
sounds, recordings among them. Webbased social networking
moreover changes the life style of society.

A. Positive Effect of Social Media on Society

• Connectivity – The first and foremost benefit of the social media is

connectivity. People from anywhere can connect with anyone.
Regardless of the location and religion. The prettiness of social
media is that you can attach with anyone to learn and share your
thoughts.

• Education – Social networking provide various benefits to the

students and teachers. It is very easy to educate from others who
are experts and professionals via the social media. One can follow
 anyone to learn from him/her and enhance his knowledge about
any field. Regardless of our location and education background
we can educate ourself, without paying for it.

• Advertising – We can promote our business to the largest

audience. The whole world is open for you, and can promote to
them. It will help in increase the profits and achieves the targets
of Business.

B. Negative Effect of Social Media on Society

• Cyber Harassing – According to a report distributed by

PewCenter.org the greater part of the youngsters have progressed
toward becoming casualties of the digital bulling over the past.
Since anyone can make a phony record and do anything without
being tailed, it has ended up being exceptionally straightforward
for anyone to spook on the Internet. Dangers, terrorizing messages
and bits of gossip can be sent to the majority to make
inconvenience and uproar in the general public.

• Hacking – Personal information and security can be hacked and

shared on the Internet.[5] Some twitter and Facebook accounts have
been hacked in the past and the programmer had posted materials
that have influenced the person's lives.

• Addiction – The addictive piece of the online networking is awful and

can exasperate individual lives also. It can likewise squander
individual’s time that could have been used by profitable tasks and
exercises.

• Fraud and Scams – Several cases are available where

people have committed fraud and scams through the online
networking.

HANDLING INFLUENCE OF SOCIAL MEDIA ON YOUTH

AND TEENS:

Here are some ways to handle the influence of social media on

teenagers:
• Check out the music, movies, TV shows, games and celebrities your
child likes. Once we know what is interesting to them, we can spot
the pictures and messages that are influencing them.
• It is quite easy for our teens to watch YouTube videos on mobiles
so that we may not know what he is watching. Parents must try
monitoring the teenager on what he is watching on TV or the
internet and try to discuss some limits and rules.
• One of the best ways to help the teens navigate the influences on
media is to talk about messages. For instance, if the teen love girls,
we can talk to them about female friendships, life choices, self-
esteem and sexuality.
• Monitoring teen’s choices does not mean we ban them from
watching media. It is just making them aware of the negative
influences.
• We should also choose to ban some apps, shows and games.
Explain why we are doing so.
• We can also encourage our teen to interpret media by putting
forward some questions they can ask. Pick out a TV ad or a
magazine and ask the teen: who’s behind it, what is their
motivation, how does it make them feel, what they needs from it,
and so on.
• We can do the same with our teen’s role model. Encourage our
teen to ask him like why does they like that celebrity, does they
follow him in real life, what values of the celebrity interest our
teens and so on.

RESEARCH METHODOLOGY

Place of Study
The purpose of study is to study the impact of social media on
youth and society. The data is been gathered randomly from various
age groups from different profession through survey questionnaire.

Following is the Questionnaire:

• How many social media sites do you have accounts?

 • How many times a day do you look at social media?
• How much time do you spend on social media?
• How often do you post on social media?
• When do you access social media?
• Do you check social media before you get out of bed?
• Is checking social media the last thing you do before going to
bed?
• What do you use social media for?
• Has social media effected your relationship with friend/
family/ romantic?
• Do you consider yourself addicted to social media?

Population:

Through questionnaire we get approx. 124 respondents. The main

air of selecting diverse group of population (respondents) from
various age groups is to get opinion from a diverse group of people
so that result can be generalized on a vast group of population.

Sample Unit: 123 Respondents

DATA ANALYSIS

Preview of the form

By gathering the above personal details we managed to get huge no of
responses from various respondents.

The respondents were asked following questions and they had to answer
by selection an appropriate option as per their preferences.

Question No. 1
Question No. 2
Question No. 4
Question No. 6

Question No. 8
Question No. 10
With the help of this questionnaire the responses were gathered accordingly.

• Given below is the graphical representation of the respondents

who have given response to the survey according to their ages.

Following are the graphical representation of the responses according to

the questionnaire:
Question no. 1 response:

INTERPRETATION:

Among 123 responses 62.90% of population has more than 3 accounts on

social media and only 3.23% of population has only one social media
account
Question no. 2 response:

INTERPRETATION:
Among 122 responses 49.19% of population check their social media more than 10 times
in a day and 4.84% don’t even check their social media accounts daily.
INTERPRETATION:

Among 123 responses 41.13% of population spends 1-2 hour on social media and
around 11.29% of population spends less than 30 mins.
INTERPRETATION:

Among 123 responses 48.39% of population posts on social media every few month
and 7.26% of population posts daily.
INTERPRETATION:

Among 123 responses 88.71% of population uses social media during their free time
and 1.61% of population uses during meal time.
INTERPRETATION:

Among 124 responses 68% of population check their social media before they get out
of bed and 32% of population don’t.
INTERPRETATION:

Among 122 responses 68.9% of population checks social media before going to bed
and 31.1% of population doesn’t.
INTERPRETATION:

Among 123 responses 68.3% of population use social media to be n touch with their
friends and family; and 2.24% of population use social media for event planning.
INTERPRETATION:

Among 123 responses 54.5% of population feels that social media has affected their
relationship with friends, family and romantic; and 45.5% of population doesn’t feel
social media effects on any of their relationship.
INTERPRETATION:

Among 123 responses 63.4% of population doesn’t feel that they are addicted to social
media and 36.6% of population feels that they are addicted to social media.
• Going through the analysis of responses from the survey
conducted it is concluded that most of the students use the social
media in day to day life.
• Almost all the students have more than three social media accounts
and applications and most of them have used these applications
more than 1-2 hours a day.
• Most of the respondents prefer using social media to interact with their
friends and family.
• Most of the respondent post on social media every month and
few of them post daily.
• Most of the respondents check their social media accounts before
going to bed and also the first thing they do after waking up in
morning.
• Almost more than 50% of respondents feel that social media has
affected their relationships between their friends, family and
romantics.
• In spite of constantly using social media according to
respondents they are not addicted.

• In spite of having multiple social media accounts the respondents

should give less time in surfing and focus more on productive
work.
• Respondents can use their social media accounts for more
information, knowledge gaining purpose and not for passing
time.
• Respondents shouldn’t use or check their social media
accounts frequently as it leads to addictions.
• Checking social media before going to bed and immediately after
waking up itself is a sign of addiction which the respondents should
to do, as it has worse effect on eyes and also leads to some chronic
mental diseases.
As the technology is developing, the web-based social media has turned
into the routine for every last individual, people; groups are seen
dependent with this technology consistently. Online networking has
expanded the quality and rate of coordinated effort for students. Business
uses online networking to upgrade an organizations execution in different
courses, for example, to fulfil business goals, expanding yearly offers of
the organization. Youths are found in contact with these media every day
.Social media has different merits yet it likewise has a few faults which
influence individuals contrarily. False data can lead the training
framework to disappointment, in organizations wrong promotion will
influence the productivity, online networking can manhandle the general
public by attacking on individuals' security, some pointless sites can
impact youth that can end up plainly savage and can take a few wrong
activities. Last but not least, all the citizens are advised to adopt the
positive aspects of social media and avoid negative effects, So that we can
avail the benefits of these latest and emerging technologies.

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• Research Methodology – methods and
techniques By C.R. Kothari
• Research Methods for
Management By Dr. S.
Shajahan