Chapter 1

Introduction
 DIGITAL BANKING

MEANING

Internet banking is the term used for new age banking system.
Internet banking is also called a online banking and it is an outgrowth of PC banking. Internet
banking uses the internet as the delivery channel bywhich to conduct banking activity, for example,
transferring funds, paying bills, viewing checking and savings account balances, paying
Mortgages and purchasing financial instruments and certificates ofdeposits (Haque et al, 2009). Internet
banking is a re sult of
explored possibility to use internet application in one of the various domains ofcommerce. It is
difficult to infer whether the internet tool has beenapplied for convenience of bankers or for
the customers’ convenience.
But ultimately it contributes in increasing the efficiency of the bankingoperation as well
providing more convenience to customers. Withouteven
operational timings, there areno geographical barriers and the services can be offered at a
minuscule
cost (IAMAI’s,
2006). Electronic banking has experienced explosivegrowth and has transformed traditional
practices in banking (Gonzalez etal., 2008). Private Banks in India were the first to implement
internet banking services in the banking industry. Private Banks, due to late entryinto the
industry, understood interacting with the bankers, customers transact from one corner ofthe country to another
corner. There are many advantages of online
Banking. It is convenient, it isn’t bound by
that the establishing network in remotecorners of the country is a very difficult task. It was clear to
them that theonly way to stay connected to the customers at any place and at anytimeis through
internet applications. They took the internet applications asaweapon of competitive advantage to corner the
great monoliths likeState Bank of India, Indian Bank etc. Private Banks are pioneer in Indiato
explore the versatility of internet applications indelivering services tocustomers. As per prediction of
Broadie et al(2007)the e- banking isleading to a paradigm shift in marketing practices
resulting in
high performance in the banking industry. Delivery of service in bankingcan be provided effi
ciently only when the back ground operations areefficient. An efficient back ground operation can be
conducted only whenit is integrated by an electronic system. Then components like
data,hardware, software, network and people are the essential elements of thesystem. Banking
customers get satisfied with the system when it provides Them maximum convenience and comfort while
transacting with the bank. Internet enabled electronic system facilitate the operation to fetchthese
result. An in-depth analysis would help to understand that internetenabled electronic bank system differentiates
from traditional bankingoperation through faster delivery of information from the customer andservice
provider. Additionally, it has to be noted that the bankingoperations does not transfer
physical currencies instead it transfer theinformation about the value for currencies. I-banks enable
transfer ofinformation more swiftly on- line. ( Salawu et.al, 2007). In serviceorganizations like banks,
information flows more than physical items. Inthe commercial world, especially in most advanced
societies today,money is rather carried in information storage medium such as cheques,credit
cards and electronic means that in its pure cash form. According tochristopher et al (2006), E
banking has become an important channel tosell the products and services and is perceived to
be necessity in order tostay profitable in successful. The perception is the formed as a result
ofinterpreting the experience. There is a growing interest in understanding

the users’ experience (Hiltunen et al.,2002 .); as it is observed as a larger concept than user
satisfaction. From this perspective ,assessing the userexperience is essential for many technology
products and services(Wilson & Sasse, 2004) Customers have started perceiving the services
of bank through internet as a prime attractive feature than any other prime product features of
the bank. Customers have started evaluating the banks based on the convenience and
comforts it provides to them. Bankers havestarted developing various product features and services
using internetapplications.

Definition of E-Banking
E-banking is defined as the automated delivery of new and traditional
banking products and services directly to customers through electronic, interactivecommunic
ation channels. E-banking includes the systems that enable financialinstitution customers,
individuals or businesses, to access accounts, transact business,or obtain information on
financial products and services through a public or privatenetwork, including the
Internet.Customers access e-banking services using an intelligent electronic device, such as
a personal computer (PC), personal digital assistant (PDA), automated teller machine(ATM),
or Touch Tone telephone. While the risks and controls are similar for the various e-banking
access channels, this booklet focuses specifically on Internet-basedservices due to the
Internet's widely accessible public network. Accordingly,
this booklet begins with a discussion of the two primary types of Internet websites:informatio
nal and transactional.E Banking is your personal banking service on the Internet, protected
with bankidentifiers. It is available anywhere, anytime. E Banking allows you to pay invoices
toFinnish and foreign recipients easily and securely. You can also check your
account balances and transactions. You can order a new card, withdraw
a loan granted to youand make mutual fund subscriptions .You access E Banking services by
obtaining
bank identifiers. E Banking as such is free of charge but commissions and fees inaccordance
with the service tariff will be levied on orders and other transactionscarried out through e
Banking. E Banking allows you to pay invoices to finish andforeign recipients easily and
securely. You can also check your account balances andtransactions.You can order a new
card, withdraw a loan granted to you and make mutual fundsubscriptions. You access E-
Banking services by obtaining bank identifiers. E-Banking as such is free of charge but
commissions and fees in accordance with theservice tariff will be levied on orders and other
transactions carried out through E-Banking.The last decade has witnessed a drastic change in
the economic and bankingenvironment all over the world. With the economic and financial
sector reformsintroduced in the country since early 1990s, the operating environment for
banks inIndia also undergone a rapid change. The process of deregulation and reforms in
theIndian banking system resulted in the creation of an efficient and competitive
bankingsystem. Deregulation has opened up new vistas for banks to extend their revenues
bydiversifying into universal banking, investment banking, bank assurance,
mortgagefinancing, depository services, securitization, personal banking etc. At the same
time,liberalization has opened the turf to new players and brought greater competitionamong
banks. To survive the competition, the information & communicationtechnology significantly
contributed to the growth and profit of financial institutions worldwide. Technology is the
key to move towards providing integrated bankingservices to customers. Indian banks are late
starter in the adoption of technology forautomation of processes and the integrated banking
services. But with the globaladoption of technology, Indian banking is also at the threshold of
paradigm shift dueto the latest changes. There are various factors which have played
important role inthe Indian banking sector for adoption of technology. Firstly, the economic
reformsintroduced by the government almost fifteen years back which resulted in opening
upof new vistas for banks outside the country. E-banking is defined as the automateddelivery
of new and traditional banking products and services directly to thecustomers through
multiple electronic means ADCs like ATM, IB, MB, etc.E-banking was firstly introduced in
India by the ICICI around 1996. E-bankingincludes the systems that enable financial
institutions, customers and
individualsor businesses to access accounts, transact business or obtain information of financi
al products and services through a public or private network, including the Internet. TheE-
banking revolution provides new opportunities like Payment and
SettlementSystems.E- banking creates ‘huge world of customer convenience’With continuing
technologyevolution and changing demographic preferences banks all over the world
keepfinding new channels to put their money on . E-banking improves the internalworking of
a bank and ensures customer satisfaction. It facilitates market penetrationand growth in
customer base without any geographical constraints or time-basedlimitations.

Customers are influenced to use electronic channels to conduct

their banking transactions due to the benefits gained from Ebanking services. They aretremen
dous reduction in transaction costs, world over delivery of banking services,real-time
information, real-time transaction, absence of geographical and timeconstraints, better
employee-customer social relationship, publicity of innovative andglobally accepted
products/services, confidence of customers in the low-cost and cost-effective e-channels,
conversion of banks from traditional (‘brick and mortar’) to e-banks(‘click and portal’), better
quality service, increased speed, increased efficiency,

touch-screen technology, convenient and cheaper electronic channels, easy, fast,efficient and
secured financial services at reasonable costs, single window servicing,convenience for
customers at their options to transact from anywhere, at anytime and using any delivery
channel that are suitable for them, minimizing personal visit to
the branch premises and more suitability for changing demographic preferences, etc.Thus,
customers are embracing all the above benefits of E-banking. E-bankingenables banks to
provide good, superior, very high quality customer service as well asto offer a broad range of
products and/or services to customers. It maximizes returns,acquires more customers and
builds the customer product ratio, extends their reach and increases their contact with multi
platform consumers and ensures one’s privacy and trust. These features enhance customer
satisfaction. When the customers adopt E- banking they have increased expectations about
service and support to enable them to banking on-line. Thus, E-banking

services have become the virtual main street of theworld. The Internet has created a new
economic ecosystem. On October 18, 1995

Security First Network Bank opened to the public as world’s first Internet bank. ICI
CI bank introduced IB first in India. Advent and adoption of Internet by the industrieshave
removed the constraints of time, distance and communication making globe trulya small
village. Financial sector is no exception. Numerous factors such ascompetitive cost, customer
service, increase in education and income level ofcustomers, cheapness, convenience speed,
security, accessibility at anytime and atanywhere in the world, etc. influence banks to
evaluate their technology and assesstheir electronic commerce and IB strategies. IB is a
powerful technological innovation
which has the power to increase not only customer satisfaction but also the bank’s
profitability. It holds the potential to drive the future of banking. It provides varioustypes of
new innovative products and /or services to customers like account enquiry,fund transfer,
payment of utility bills, etc. It increases operational efficiencies andreduces costs. Online
banking plays a very important role in capital markettransactions too.The various payment
and settlement systems through IB in Indian banking system areMICR, Electronic Clearing
Service (ECS), EFT, Centralised Funds Message Service(CFMS), National Deferred System
(NDS), INFINET, RTGS, etc. Out of variousADCs, the IB is emerging as a most cost
effective and convenient and a delightfulchannel to the banks as well as customers due to its
inherent advantages.Electronic banking, also known as electronic funds transfer (EFT), is
simply the use of electronicmeans to transfer funds directly from one account to another,
rather than by cheque orcash. You can use electronic funds transfer to. Directly deposit your
pay check into your bank or credit union bank account. Withdraw cash from your bank
account froman ATM machine with a personal identification number (PIN), at your
convenience.Instruct your bank or credit union to mechanically pay few monthly bills from
youraccount, such as your auto loan or your mortgage payment. Have the bank or creditunion
transfer funds monthly from your bank account to your mutual fund account.Have your
government social security benefits check or your tax refund depositeddirectly into your bank
account. Buy groceries, gasoline and other purchases at the point-of-
sale, using a check card rather than cash, credit or a personal check. Use asmart card with a
prepaid amount of money embedded in it to be used rather than cash

at a pay phone, expressway road toll, or on college campuses at the library’s

photocopy machine or bookstores. Use your pc and private finance software tocoordinate
your total personal monetary management process, integrating data andactivities related to
your income, spending, saving, investing, recordkeeping, bill- paying and taxes, alongside
basic monetary analysis and decision making.

HISTORY OF E - BANKING IN INDIA

In India, since 1997, when the ICICI Bank first offered internet banking services, today, most new-generation
banks offer the same to their customers. In fact, all major banks provide e-
banking services to their customer India is still in the early stages of
E- banking growth and development. Competition and changes in technology andlifestyle in
the last five years have changed the face of banking. The changes that have taken place
impose on banks tough standards of competition and compliance. The issue here is
–

‘Where does India stand in the scheme of E-banking.’ E-banking is likely to bring a host of
opportunities as well as unprecedented risks to the fundamental nature of banking in
India. The impact of E- Banking in India is not yet apparent. Many global research
companies believe that E-banking adoption in India in the near future would be slow
compared to other major Asian countries. Indian E-banking is still nascent, although itis fast
becoming a strategic necessity for most commercial banks, as competition increases from
private banks and non banking financial institutions. Despite the global
economic challenges facing the IT software and services sector, the outlook for theIndian
industry remains optimistic.
The Reserve Bank of India has also set up a “Working Group on E
-banking toexamine different aspects of E-banking. The group focused on three major areas
ofE-banking i.e. (1) Technology and Security issues (2) Legal issues and (3) Regulatoryand
Supervisory issues. RBI has accepted the guidelines of the group and they providea good
insight into the security requirements of E-banking.The importance of the impact of
technology and information security cannot bedoubted. Technological developments have
been one of the key drivers of the globaleconomy and represent an instrument that if
exploited well can boost the efficiencyand competitivity of the banking sector. However, the
rapid growth of the Internet hasintroduced a completely new level of security related
problems. The problem here is that since the Internet is not a regulated technology and it is
readily accessible to millions of people, there will always be people who want to use it to
make illicit gains. The security issue can be addressed at three levels. The first is the security
of
customer information as it is sent from the customer’s PC to the Web server. The
second is the security of the environment in which the Internet banking server and customer
information database reside. Third, security measures must be in place to prevent
unauthorized users from attempting to long into the online banking section of the website.

 BILL PAYMENT
A simple and convenient service for viewing and paying your bills online. No morelate
payments No more queues No more hassles of depositing cheques .Using the bill payment
you can view and pay various bills online, directly from your SBI account.You can pay
telephone, electricity, insurance, credit cards and other bills from thecomfort of your house or
office, 24 hours a day, 365 days a year. Simply logon tohttp://www.onlinesbi.com/ with your
credentials and register the biller to which youwant to pay, with all the bill details. Once the
bill is uploaded by the biller, you canmake payment online.You can see 'how do i' to learn the
steps for using thefacility.You can also set up Auto Pay instructions with an upper limit to
ensure thatyour bills are paid automatically whenever they are due. The upper limit ensures
thatonly bills within the specified limit are paid automatically, thereby providing
youcomplete control over these payments. The e-PAY service is available in variouscities
across the country and you can now make payments to several billers in your region

 RTGS/NEFT
You can transfer money from your State Bank account to accounts in other banksusing the
RTGS/NEFT service. The RTGS system facilitates transfer of funds fromaccounts in one
bank to another on a "real time" and on "gross settlement" basis. Thissystem is the fastest
possible interbank money transfer facility available throughsecure banking channels in India.
RTGS transaction requests will be sent to RBIimmediately during working hours post
working hours requests are registered andsent to RBI on next working day. You can also
schedule a transaction for a futuredate. You can transfer an amount of Rs.1 lac and above
using RTGS system.NationalElectronic Funds Transfer (NEFT) facilitates transfer of funds to
the credit accountwith the other participating bank. RBI acts as the service provider and
transfers the credit to the other bank's account

 E-PAYMENT

You can pay your insurance premium, mobile phone bills and also you can purchasemutual
fund units by coming from the biller s website and selecting state bank of
India in the payment ‟
option. LIC PREMIUM: For paying premium of LIC policylogon to www.licindia.com and
register your policy details. When the premium is dueselect State Bank of India in the make
payment option. SBI Mutual FUND: You caninvest in the SBI Mutual Fund schemes online.
Logon to www.sbimf.com and select the scheme in which you want to make investment in
the payment option select StateBank of India.CC Avenue: Enjoy shopping at the CC Avenue
Shopping Mall and purchase from a wide variety of products and services through CC
Avenue CertifiedVendors. Make payments for your purchases using your Internet enabled
SBIaccounts

 FUND TRANSFER

The Funds Transfer facility enables you to transfer funds within your accounts in thesame
branch or other branches. You can transfer aggregating Rs.1 lakh per day to ownaccounts in
the same branch and other branches. To make a funds transfer, you should be an active
Internet Banking user with transaction rights. Funds transfer to PPFaccount is restricted to the
same branch. Just log on to retail section of the InternetBanking site with your credentials and
select the Funds Transfer link underPayments/Transfers tab. You can see all your online debit
and credit accounts. Selectthe debit account from which you wish to transfer funds and the
credit account intowhich the amount is to be credited. Enter the amount and remarks. The
remarks will be displayed in your accounts statement for this transaction. You will be
displayed thelast five funds transfer operations on your accounts. On confirming the
transaction,you will be displayed a confirmation page with the details of the transaction and
theoption to submit or cancel the funds transfer request. A reference number will begenerated
for your record.

 DEMAND DRAFT
The Internet Banking application enables you to register demand drafts requestsonline. You
can get a demand draft from any of your Accounts (Savings Bank,Current Account, Cash
Credit or Overdraft). You can set limits for demand draftsissued from your accounts or use
the bank specified limit for demand drafts. You canopt to collect the draft in person at your
branch, quoting a reference to the transaction.A printed advice can also be obtained from the
site for your record Alternatively, you may request the branch to courier it to your registered
address, andthe courier charges will be recovered from you

 ACCOUNT STATEMENT

The Internet Banking application can generate an online, downloadable accountstatement for
any of your accounts for any date range and for any account mapped toyour username. The
statement includes the transaction details, opening, closing andaccumulated balance in the
account. You can generate the online account statementfor any date range or for any month
and year. The account statement can be viewedonline, printed or downloaded as an Excel or
PDF file. You also have the option toselect the number of records displayed in each page of
the statement. The options are25, 50, 75, 100 and ALL

ADVANTAGES OF ELECTRONIC BANKING

Now it is also called on line or home banking electronic banking was stared with theuse of
proprietary software. Following are the important advantages of electronic banking
1. Paper Work Reduced :-
The traditional procedure of banking is manual and paper based. Electronic banking
isgradually replacing the paper transactions in the banks which has reduced the paperwork.

2. Easy Transactions :-
Electronic banking has reduced the problems of the customers like writing cheques,filing
taxes, and transforming of cash. Now in ATM facility there is no need ofcheque book.

3. Security :-
Electronic banking provides the safe system of payment. Now transactions are madein the
accounts through internet.

4. Saving Of Time :-
Electronic banking has saved the time and money of the customers and also the bank. Now
burden of work on bank employees has been also reduced were hired at higherwages, so
operating cost was very high. Now by using electronic banking the numberof employees has
been reduced.

5. Reduction In Cost :-
In case of manual banking, large number of employees were hired at higher
wages,so operating costwas very high. Now by using electronic banking the number
ofemployees has been reduced.

6. Market Expanded :-
Due to electronic banking, national international market of various goods and serviceshas
been expanded. Now we can purchases and make payment in any place in theworld.

7. Increase In Customers :-
As the banking industry is expanding due the modern facilities, it is attracting moreand more
customers. So number of customers are increasing day by day.

8. Branches Reduced :-
Now there is no need to open the branches on every place in the city because due
toelectronic banking facilities, there is no rush of customers in the banks. Because thereis no
need to visit the bank physically. So heavy cost of opening the new branches has been
reduced and facilities are provided at low cost.

9. Checking Of Account :-
Every customer can check his balance of account sitting at home and makes the payments
without travelling. It saves his time and expenses.

10. Utility Bills Payment :-

Bills, like telephone, gas, electricity and water can be easily paid to the
concerneddepartments without going to the bank physically. Even he is sitting in any
othercountry, he can make the payment.
11. Transferring Of Money :-

There is no need of writing the deposit slip cheques and drafts. By using the
electronic banking money can be transferred easily.
12. Credit Cards :-

It is also very important facility for the customers that he can purchase the goods andca make
the payment by using the credit cards.

Disadvantages of Online Banking

No one type of bank can be the best at everything. In spite of their many advantages,there are
some drawbacks to using online banks as well. Here are some of thedownsides of working
with an online bank:
1.Technology issues
2.Security issues
3.Inefficient at complex transactions
4. No relationship with personal banker
5.Inconvenient to make deposits

1 .Technology Issues
In many ways, an online bank is only as good as your or their internet connection. If
there’s a power outage, or if servers go down, you might not have any access to your
account whatsoever. While some banks offer a phone number for customer service, itmight
be overwhelmed if online access is down. With a real bank, you can alwaysfind someone to
talk to in the branch.
2. Security Issues
While many online banks are reputable and well-established, sometimes it can be hardto feel
comfortable with a bank that doesn’t have a physical presence, particularlywhen large sums
of money are involved. If a website suddenly folds up, what willhappen to your money?
There’s also the risk of identity theft or actual theft if someone gains unauthorized access to
your account via a hacked or stolen passwordor log-in credentials.
3. Inefficient at Complex Transactions
Online banks might be able to transfer money between accounts or pay bills, but youmight be
more comfortable with an international, bricks-and-mortar bank if you havecomplex
transactions. Worldwide, business-oriented banks like Chase have globaltransaction
capabilities, such as the ability to send payments to more than 35 differentcurrencies
worldwide, that online banks might not be able to muster. Without a real-
world presence, most online banks can’t even offer the services of a notary public,
which require an in-person visit and necessary for most important financialtransactions like
buying a home.
4. No Relationship With Personal Banker
Over time, you can develop a relationship with a personal banker if you visit a traditional
bricks-and-mortar location. If you’re dealing with an online bank, on the other hand, you’re
typically handed off to an anonymous customer service agent who is unlikely to know you
from the next customer. If you’re really in a bind, financially speaking, having a relationship
with someone who can help and who knows you well can be a major advantage over a strictly
online banking relationship.
5. Inconvenient to Make Deposits
It might seem counterintuitive that a bank, whose purpose is to attract assets, makes ithard for
customers to make deposits, but that can be true in the case of some online
banks. With an online bank, you can’t simply drop off cash or a check
at a local branch. In fact, some online banks, like Ally Bank, won’t accept cash deposits
at all.Using Ally Bank as an example, to make a deposit you’ll have to m
ail a check,transfer money from another bank or another account, or use the bank’s e
-checkdeposit service.

TYPES OF RESEARCH
The research is primarily both exploratory as well as descriptive in nature. Thesources of
information are both Primary & Secondary.A well-structured questionnaire was prepared to
collect the perception of therespondent, through this questionnaire.

RESEARCH METHOD
Research can be defined as systematized effort to gain new knowledge. A research iscarried
out by different methodology, which has their own pros and cons.Research methodology is a
way to solve research problem along with the logic behindthem. Thus when we talk of the
research methodology we not only take of researchmethod but also context of our research
study and explain why we are using a particular method or techniques and why we are not
using other so that research resultare capable of being evaluated either by the researchers
himself or by others.

TYPES OF DATA
The data is collected from the following sources:-
1. Primary Data:-
Primary data is the first hand data which is collected from the number of respondents.Here
structured questionnaire was used to collect primary data through surveys.
2. Secondary Data:-Secondary data has been collected for other for other useful resources
& informationessential required in order to successfully complete the project report &
companyfigures from the internet, books, magazines as well as news paper

CHAPTER 2

RESEARCH METHDOLOGY
 1.1 Objective of the Study

1.To know what is the role of Internet in banking sector.

2. To know what are the challenges of online banking.
3. To know about the activities being provided by online banking system.
4. To study the awareness of internet banking among the customer of ICICI & HDFCBank.
5. To access the degree of customer satisfaction relating to E-banking services.

2.2 Scope of study

1.The study will be able to revail the preferences, need, perception, of the customerregarding
the E - Banking services.
2 It also helps the Banks to know whether the E - Banking services can reallysatisfying the
customer needs.

2.3 Limitations of study

1.This study is based on the prevailing respondent’s satisfaction. But their

satisfaction may change according to time, fashion, need etc
2.Both Banks ICICI & HDFC are providing different E- Banking services andacceptance to
their current holders
 CHAPTER 3
REVIEW OF LITERATURE
 REVIEW OF LITERATURE

(Kannabiran and Narayan, 2009).

"Digital India Mission" which is one of the major initiatives started by the Government of
India aims to make the nation more technologically advanced. The government insists on
being cashless, paperless, and faceless transactions in the economy. The crucial stages of a
digital payment system are signing up, billing, choosing a payment method, and confirming
a payment. The term "digital" describes the storing of data as digital signals. It can simplify
banking operations. Digital banking streamlines and eases the transaction. One example is
SMS banking. Every consumer is now free to do their tasks at their own convenience.
According to (Gupta, 2008), the majority of Indian banks are dealing with two significant
obstacles when incorporating IT into their daily operations as both an operational necessity
and a strategic tool. So, it is more crucial to identify characteristics that are barriers to using
digital banking in India rather than only those that make it easier.
Giri and Ipsita Paria (2018) the article entitled "A Literature Analysis on Effect of Digitalization on
Indian Rural Banking System and Rural Economy". The study focuses on a review and summary of
several studies conducted by different researchers from various locations across India on the
influence of digitization on India's rural banking sector. According to the study, digital banking has
huge potential to revolutionize the landscape of financial inclusion. The study also discovered that
low-cost, simple-to-use digital banking can hasten the integration of the unbanked economy into the
mainstream. K. Hema Divya and K. Suma Vally (2018) focuses on an investigation of client adoption
of digital payment methods. The study uses primary source of data which is collected from 183
persons in Hyderabad. Chi-square analysis was used to examine the data gathered through
questionnaires. According to the survey, the banking industry is now performing better and is closer
to realizing the goal of a cashless society as a result of the deployment of technology for digital
payments. Arunangshu (2018) studied the digitization of India's rural banking sector. The potential
for the digital banking system to alter the financial landscape is huge. The study discovered that
digital banking's low-cost, user-friendly characteristics could hasten the integration of the cash-less
economy. Anthony Rahul Golden S. (2017) discussed an overview of digitalization in the Indian
banking sector. Banks are not merely a part of our lives; also they play an important role in our daily
life. As a result, banks are constantly striving to implement cutting-edge technology in order to
improve the client experience. According to the survey, as a result of the implementation of
digitization, the financial sectors in India are experiencing significant changes as well as challenges.
The survey also discovered that in the digital age, it is impossible to prevent growth and services
such as digital banking. Rajeshwari (2017) customers' expectations of banks are rising as a result of
digital banking. They conclude from their analysis of secondary data that digital banking marks an
important turning point for the Indian banking system. The development of Indian banking is aided
by it. It demonstrates how swiftly banks' operating expenses have been decreased as a result of
digital banking. Banks will profit more if their operating costs are lower. He believes that virtual
banks have the potential to alter the way that banks are organized. Sharma (2015) stated that digital
banking will be a watershed moment in the Indian economy. The study is analytical in nature and is
based on secondary data. According to her, digital banking has an impact on the Indian economy.
The economy is changing as a result of advances in financial technology. It can deliver better services
to their customers. It is acceptable in the market because of their rapid expansion. After analyzing
the benefits of digital banking, everyone in the market desired it for overall expansion and success.
Geetha (2014) did a study on urban cities in India with 200 respondents. The researcher has
identified a number of factors that directly affect the adoption of e-banking services. They outline
criteria including innovation, client familiarity, awareness, security, and trust. These elements impact
how customers view online banking. Utpala (2013) did a study to examine the market's present state
of e-banking. The author examined respondents' perceptions about e-banking using the primary
data source. The researcher examine the challenges that clients confront when using internet
banking. According to Utpala, 60% of the urban population uses digital banking. All transactions are
now completed using mobile banking. Bill payment via mobile banking has just gotten a whole lot
easier. It is critical to target the rural people by developing awareness initiatives and training
courses. It should aid in the promotion of digital banking in India