“NAVIGATING THE E-BANKING LANDSCAPE”

(WITH SPECIAL REFERENCE TO UCO BANK, BHUBANESWAR)

SUBMITTED BY-
ADITI SARANGI

ROLL NO-2019IMBA037
SESSION:2023-2024

Project Report submitted in partial fulfillment for the degree of

Master of Business Administration

Under the guidance of

Mr. Dambarudhar Khoda
Assistant Professor
Department of IMBA
BJB Autonomous College

B.J.B. AUTONOMOUS COLLEGE, BHUBANESWAR

COMPANY CERTIFICATE
 INTERNAL GUIDE CERTIFICATE

Mr. Dambarudhar Khoda

Assistant Professor
BJB Autonomous College

CERTIFICATE

This is to certify that Ms. Aditi Sarangi, having Roll No 2019IMBA037 has done this research project

work on “NAVIGATING THE E-BANKING LANDSCAPE (WITH SPECIAL REFERENCE TO UCO BANK)”

and submitted the report in partial fulfilment for the degree of MBA to IMBA Department, BJB

Autonomous College, Bhubaneswar under my supervision and guidance. Her report is the record of

original work done by her. To the best of my knowledge, no part of the content of this report has been

submitted for any degree by her or anybody else to any other university or institution.

Date: -
Place: - Bhubaneswar
(Prof. Mr. Dambarudhar Khoda)
Internal Guide
 DECLARATION

I Ms. Aditi Sarangi, hereby declare that the project report submitted by me entitled, “NAVIGATING

THE E-BANKING LANDSCAPE (WITH SPECIAL REFERENCE TO UCO BANK)” in the partial fulfilment

for the degree of MBA to IMBA Department, BJB Autonomous College, Bhubaneswar, is the record

of original work done by me. No part of the content of this report has been submitted to any institution

/university for the award of any other degree. Previous works in this field have been duly

acknowledged as and when they have been referred.

Date: - Aditi Sarangi

Place: - Bhubaneswar Roll no- 2019IMBA037
 ACKNOWLEDGMENT

The internship opportunity I had with UCO BANK, BHUBANESWAR was a great chance for learning

and professional development. Therefore, I consider myself as a very lucky individual as I was

provided with an opportunity to be a part of it. I am also grateful for having a chance to meet so many

wonderful people and professionals who led me through this internship period.

I am using this opportunity to express my deepest gratitude and special thanks to Mr. Harsh Jain

(Branch Manager, UCO Bank main branch) who in spite of being extraordinarily busy with his duties,

took time out to hear, guide and keep me on the correct path and allowing me to carry out my project

at their esteemed organization.

I hereby take this opportunity to add a special note of thanks for Prof Mr. Dambarudhar Khoda

(Lecturer and Internal Guide), who undertook to act as my mentor despite his many other academic

and professional commitments. His wisdom, knowledge, and commitment to the highest standards

inspired and motivated me. Without his insight, support, and energy, this project wouldn’t have kick-

started and neither would have reached fruitfulness.

Aditi Sarangi
Roll no- 2019IMBA037
 TABLE OF CONTENTS

SUBJECT ITEMS PAGE

NO.

CHAPTER 1 2-9
1.0 INTRODUCTION
1.1 CONCEPTUAL STUDY OF THE PROJECT

CHAPTER 2 11-13
2.1 LITERATURE REVIEW

CHAPTER 3 15-26
3.0 COMPANY PROFILE
3.1 E-BANKING SERVICES (W.R.T UCO BANK)

CHAPTER 4 28-29
4.0 OBJECTIVES
4.1 SCOPES & LIMITATIONS
4.2 RESEARCH METHODOLOGY

CHAPTER 5 31-44
5.1 DATA ANALYSIS AND INTERPRETATION

CHAPTER 6 [FINDINGS & CONCLUSION] 46-47

6.0 FINDINGS
6.1 SUGGESTIONS
6.2 CONCLUSION

ANNEXURE 48-52
1. BIBLIOGRAPHY
2. QUESTIONNAIRE
 LIST OF TABLES

SL TABLE NAME PAGE NO.

NO.
Table UCO Bank NEFT charges 22
1
Table UCO Bank RTGS charges 23
2
Table UCO Bank IMPS charges 23
3
Table Age group 31
4
Table Frequency of using e-banking 32
5
Table Awareness of e-banking services 33
6
Table Overall satisfaction of e-banking services 34
7
Table E-banking channels 35
8
Table User-friendliness of e-banking 36
9
Table Trust in the security measures 37
10
Table Awareness about the promotional efforts of bank 38
11
Table Time saving & effectiveness of e-banking 39
12
Table Eliminates the risk of carrying cash 40
13
Table Website safety concerns 41
14
Table Bank officers’ presence during transaction 42
15
Table E-banking transactions; complex or not 43
16
Table Information provided by bank about e-banking 44
17
 LIST OF FIGURES

SL FIGURE NAME PAGE NO.

NO.
Fig UCO Bank zonal office, Bhubaneswar 15
1

Fig SWOT Analysis of UCO Bank 17

2
Fig OUCO Bank website 24
3
Fig UCO mBanking Plus app 25
4
Fig Age group 31
5
Fig Frequency of using e-banking 32
6
Fig Awareness of e-banking services 33
7
Fig Overall satisfaction of e-banking services 34
8
Fig E-banking channels 35
9
Fig User-friendliness of e-banking 36
10
Fig Trust in the security measures 37
11
Fig Awareness about the promotional efforts of bank 38
12
Fig Time saving & effectiveness of e-banking 39
13
Fig Eliminates the risk of carrying cash 40
14
Fig Website safety concerns 41
15
Fig Bank officers’ presence during transaction 42
16
Fig E-banking transactions; complex or not 43
17
Fig Information provided by bank about e-banking 44
18
CHAPTER 1
❖INTRODUCTION
❖CONCEPTUAL STUDY OF THE PROJECT

Page | 1
 INTRODUCTION

This research project delves into the evolving landscape of electronic banking (e-banking) and the
suite of e-banking services offered by UCO Bank. The significance of the banking sector, particularly
in the context of electronic transactions, has become increasingly pronounced as it plays a pivotal
role in shaping the economic growth and financial stability of India. This study seeks to explore the
level of awareness among customers regarding e-banking services, with a specific focus on the
offerings of UCO Bank. The objective is to understand how customers perceive and engage with e-
banking services in the current digital age.
The primary aim of this research is to unravel the dynamics of e-banking, emphasizing the unique
services provided by UCO Bank. By scrutinizing the modes through which e-banking transactions
take place, the study endeavours to provide insights into the current scenario of e-banking in the
Indian financial landscape.

Introduction of banking:
Banking plays a crucial role in the economic development of any country. The banking sector in India
is diverse, comprising various types of banks, each serving specific needs of the economy. Banking
refers to the business of accepting deposits, providing loans, and other financial services to the public.
Banks act as intermediaries between those who have surplus funds (deposits) and those who need
funds (borrowers), facilitating the smooth functioning of the economy.

History:
Banking in India traces its roots to the latter part of the 18th century. Among the early financial
institutions were the Bank of Hindustan, established in 1770 and closed during 1829-32, and the
General Bank of India, founded in 1786 but ceased operations in 1791.
After India gained independence, the State Bank of India (SBI) emerged in 1955. The presidency
banks had previously functioned as quasi-central banks, a role continued by their successors until the
establishment of the Reserve Bank of India in 1935. The State Bank of India, which originated as the
Bank of Calcutta in June 1806 and was renamed in 1809, stands as the oldest and largest bank in the
country. This institution, along with the Bank of Bombay (1840) and the Bank of Madras (1843),
founded by presidency governments, merged in 1921 to create the Imperial Bank of India, as
mandated by the Act of 1934.

Page | 2
Features:
a) Acceptance of Deposits:
One of the primary functions of banks is to accept deposits from individuals, businesses, and other
entities. These deposits can be in the form of savings accounts, fixed deposits, recurring deposits, etc.

b) Provision of Loans:
Banks extend loans and credit facilities to various sectors of the economy, such as agriculture,
industry, and services. This helps stimulate economic growth and development.

c) Payment Services:
Banks provide various payment services, including electronic fund transfers, cheque clearance, and
online banking, facilitating seamless financial transactions.

d) Currency Issuance:
The Reserve Bank of India (RBI) has the sole authority to issue and regulate the country's currency.
However, commercial banks play a vital role in the distribution and circulation of currency notes and
coins.
e) Investment Opportunities:
Banks offer investment products such as mutual funds, fixed deposits, and government securities,
providing individuals and businesses with avenues to grow their wealth.

f) Financial Intermediation:
Banks act as financial intermediaries by channelizing funds from depositors to borrowers. This
intermediation process helps in efficient allocation of resources within the economy.

g) Regulatory Framework:
The banking sector in India operates under the regulatory framework of the Reserve Bank of India
(RBI). The RBI formulates policies, issues guidelines, and monitors the functioning of banks to
ensure financial stability.

h) Financial Inclusion:
In recent years, there has been a focus on financial inclusion, aiming to bring the unbanked and
underbanked population into the formal banking system. Initiatives such as Jan Dhan Yojana have
played a significant role in this regard.

i) Technological Advancements:
With the advent of technology, banks in India have embraced digital banking, offering online and
mobile banking services, making transactions more convenient for customers

Page | 3
 CONCEPTUALISATION

E-Banking:
E-banking, or electronic banking, refers to the use of electronic channels, such as the internet and
mobile devices, to conduct various banking activities. It provides customers with the convenience of
managing their financial transactions and accounts online, including services like account monitoring,
fund transfers, bill payments, and more. E-banking has transformed traditional banking, offering
accessibility, efficiency, and 24/7 availability, thereby reshaping the way individuals and businesses
interact with financial services.
E-banking eliminates the necessity for physical visits to traditional brick-and-mortar banks, offering
users the convenience of accessing and controlling their accounts through online platforms. Key
features of e-banking include account management, electronic fund transfers, online bill payments,
and mobile banking through dedicated apps. Users receive real-time alerts and notifications, and
electronic statements replace traditional paper statements.
Robust security measures, such as two-factor authentication and encryption, safeguard user data and
transactions. E-banking has become an integral part of the banking landscape, revolutionizing how
individuals and businesses interact with financial services, fostering efficiency, accessibility, and a
seamless digital experience.

History of E-Banking (Global perspective):

The history of e-banking dates back to the 1980s when early forms of online banking started
emerging.

United Kingdom (UK):

Online banking in the UK began in the late 1980s and early 1990s with the advent of telephone
banking services. The first true online banks emerged in the mid-1990s, offering customers the
ability to access their accounts and perform transactions through the internet.

United States (USA):

In the USA, the development of online banking started in the 1980s with the introduction of
telephone-based banking services. The first true online banks appeared in the mid-1990s, providing
customers with internet-based access to their accounts and basic banking services.

Page | 4
Japan:
In January 1997, the first online banking service was launched by Sumitomo Bank. By 2010, most
major banks implemented online banking services, however, the types of services offered varied.
According to a poll conducted by Japanese Bankers Association (JBA) in 2012, 65.2% were the users
of personal internet banking.

China:
The introduction of online banking services in China began in the early 2000s, and with the rise of
internet usage and mobile technology, digital banking services have seen widespread adoption. In
January 2015, We Bank, the online bank created by Tencent, started 4-month-long online banking trail
operation.

Australia:
Australia's move towards electronic banking followed global trends. In the late 1990s and early 2000s,
Australian banks started offering online banking services, allowing customers to access their accounts
and conduct transactions via the internet.

History of E-Banking (Indian perspective):

The late 1990s marked the introduction of online banking services in India, allowing customers to
access their accounts and conduct basic transactions through the internet. With the increasing
penetration of the internet in the early 2000s, online banking gained popularity, leading banks to
expand their digital offerings to include features like fund transfers and bill payments. The mid-2000s
witnessed the advent of mobile banking services, providing users with the convenience of accessing
banking services through their mobile phones.
In the 2010s, the Indian government's initiatives, including the notable demonetization in 2016,
played a pivotal role in encouraging the adoption of digital payment methods and online banking.
The introduction of the Unified Payments Interface (UPI) in 2016 revolutionized digital payments,
enabling seamless money transfers between bank accounts through mobile devices and further
promoting e-banking. The decade also saw the emergence of a fintech boom, with startups offering
innovative financial solutions and challenging traditional banking models.
The current scenario in India reflects a thriving e-banking landscape, where mobile banking apps,
UPI, and digital wallets are widely utilized for various transactions. The Reserve Bank of India (RBI)
and the government continue to actively promote digital payments and enhance cybersecurity

Page | 5
measures to ensure the safety and security of online transactions, reflecting the ongoing commitment
to the digitization of financial services in the country.

Recent trends in E-Banking:

In the rapidly evolving landscape of e-banking in India, several key trends have been instrumental in
transforming the digital financial ecosystem.
Expansion of UPI (Unified Payments Interface):
• UPI has emerged as a preferred method for seamless transactions, both peer-to-peer and peer-
to-merchant, owing to its simplicity and convenience.
• Example: Apps like PhonePe and Google Pay have witnessed widespread adoption, allowing
users to make effortless transactions, pay bills, and conduct online purchases using UPI.
Digital Wallets and Contactless Payments:
• Digital wallets and contactless payment methods have gained popularity for their convenience
and security.
• Example: Paytm, a leading digital wallet in India, has evolved to offer a diverse range of
financial services, including mobile recharges, bill payments, and contactless transactions
using QR codes.
Integration of AI and Chatbots:
• Banks are leveraging artificial intelligence and chatbots to enhance customer service,
personalize interactions, and streamline user experiences.
• Example: HDFC Bank's EVA (Electronic Virtual Assistant) is an AI-powered chatbot that
assists customers in navigating the bank's website, finding information, and addressing
queries about products and services.
Enhanced Security Measures:
• With the increasing reliance on digital transactions, there is a heightened focus on
implementing advanced security protocols to protect customer data and ensure the integrity
of transactions.
• Example: Many banks, including State Bank of India (SBI), have implemented two-factor
authentication, biometric verification, and real-time transaction monitoring to enhance the
security of online and mobile banking.
Rise of Neobanks and Fintech Collaborations:
• Neobanks and collaborations between traditional banks and fintech companies are shaping
the landscape of innovative financial products and services.

Page | 6
 • Example: Niyo, a neo bank in India, provides digital banking solutions, including salary
accounts and expense management. Additionally, collaborations like ICICI Bank tying up
with fintech platforms for digital lending showcase the industry's inclination towards
embracing new financial models.
Financial Inclusion Initiatives:
• E-banking has played a pivotal role in the Indian government's efforts to promote financial
inclusion.
• Example: The Pradhan Mantri Jan Dhan Yojana (PMJDY) leverages e-banking to provide
basic banking services to a wide population. Jan Dhan accounts can be accessed and managed
through various digital channels, fostering financial inclusion.
Evolving Mobile Banking Apps:
• Mobile banking apps have undergone continuous enhancements to offer a comprehensive
suite of features and improved user experiences.
• Example: Axis Bank's mobile banking app provides users with a user-friendly interface and a
range of services, including fund transfers, bill payments, and investment options.
Blockchain and Digital Currencies:
• While in the early stages, there is a growing interest in exploring blockchain technology and
digital currencies for secure and transparent transactions.
• Example: Initiatives like Axis Bank's collaboration with Ripple for cross-border payments
demonstrate a forward-looking approach to embracing innovative technologies in the e-
banking sector.

Features of E-Banking:
• E-banking lowers the cost involved in financial transactions.
• It helps in continuous monitoring of accounts and reduces frauds in transactions.
• Online Banking helps banks to develop loyalty among customers through better and faster
services.
• E-Banking plays a vital role in expanding the productivity of businesses.
• With the inception of Internet Banking, the chances of human errors have reduced.
• Virtual Banking facilitates the instant transfer of funds nationally and internationally, thus,
breaking all the geographical barriers.
• The most crucial feature of Online Banking is that customers can access their accounts round
the clock from anywhere holding no limitations.

Page | 7
Advantages and disadvantages of E-banking:

Advantages of E-banking:
a) Convenience:
E-banking provides customers with the convenience of accessing their accounts and conducting
transactions from anywhere with an internet connection, reducing the need for physical visits to a
bank.

b) 24/7 Access:
Users can avail themselves of banking services 24 hours a day, seven days a week, allowing for
flexibility in managing finances according to their own schedules.

c) Cost Savings:
E-banking reduces operational costs for both customers and banks by minimizing the need for
physical infrastructure, paperwork, and manual processes.

d) Time Efficiency:
Transactions are processed quickly, saving time for customers and enabling faster fund transfers, bill
payments, and other financial activities.

e) Accessibility:
E-banking promotes financial inclusion by providing access to banking services for individuals in
remote or underserved areas who may not have easy access to physical bank branches.

f) Enhanced Security Measures:

Banks implement robust security protocols, such as encryption, two-factor authentication, and secure
sockets layer (SSL), to protect user data and transactions.

g) Paperless Transactions:
E-banking reduces the reliance on paper, contributing to environmental sustainability by minimizing
the use of physical documents.

h) Integration of Additional Services:

E-banking platforms often integrate a wide range of financial services, including investment
management, loan applications, and insurance services.

Page | 8
Disadvantages of E-banking:
a) Security Concerns:
Despite security measures, e-banking is susceptible to cyber threats, phishing attacks, and online
fraud, posing risks to user data and financial transactions.

b) Digital Divide:
Unequal access to the internet and technology literacy may lead to a digital divide, limiting the
adoption of e-banking in certain demographic groups or geographical areas.

c) Dependency on Technology:
E-banking relies heavily on technology, making it vulnerable to disruptions such as technical glitches,
server outages, or cyberattacks that can impact service availability.

d) Customer Resistance:
Some individuals may be resistant to adopting e-banking due to a lack of trust in online security,
preference for traditional banking methods, or limited technology literacy.

e) Transaction Limits:
Some e-banking platforms may impose transaction limits, which could be a drawback for users with
high-volume or large-value transactions.

f) Privacy Concerns:
Users may be concerned about the privacy of their personal and financial information when
conducting transactions online, leading to hesitancy in adopting e-banking.

g) Lack of Personal Interaction:

E-banking lacks the face-to-face interaction provided by traditional banking, which can be a
disadvantage for customers who prefer personalized service or assistance.

h) Regulatory Challenges:
Evolving regulations and compliance standards may pose challenges for e-banking platforms in
adapting to changing legal requirements and ensuring adherence to industry standards.

Page | 9
CHAPTER 2
❖ REVIEW OF LITERATURE

Page | 10
 LITERATURE REVIEW
• Category 1: International Perspective
• Category 2: Indian Perspective

International Perspective:

❖ Liébana-Cabanillas et al. (2013):

In their 2013 study, "The determinants of satisfaction with e-banking," Liébana-Cabanillas, Muñoz-
Leiva, and Rejón-Guardia explore factors influencing user satisfaction in online banking. Despite
financial sector complexities, online banking satisfaction has risen above 80%, surpassing pre-crisis
levels. The American Customer Satisfaction Index (2011) reports a nearly 20% advantage of online
banking over general banking satisfaction. Online banking is preferred by 55% of users, beating
branches, ATMs, call centres, and mobile banking. This preference extends beyond banking,
outperforming online retail, brokerage, travel, news sites, and social media. The study underscores
the integration of online banking in multi-channel strategies, enhancing synergies and client
satisfaction, meeting heightened customer expectations.

❖ Chaimaa et al. (2021):

The paper by Chaimaa, B., Najib, E., and Rachid, H. titled "E-banking Overview: Concepts,
Challenges and Solutions" explores the evolution of electronic banking. It highlights the shift from
traditional to electronic banking, emphasizing advantages like improved service quality and reduced
transaction costs. However, the paper also addresses the increased vulnerability to fraudulent
activities such as spamming and phishing. The central focus is on the imperative of ensuring banking
security in the electronic realm. The authors provide a comprehensive overview of e-banking,
examining various challenges and proposing solutions. This research aims to contribute to the
understanding of electronic banking and its security considerations in the contemporary financial
landscape.

❖ Carranza et al. (2021):

In their 2021 study, "E-Banking Adoption: An Opportunity for Customer Value Co-creation,"
Carranza and Díaz investigate the factors influencing bank customers' adoption of e-banking within
the context of value co-creation. Recognizing the transformative potential of e-banking in fostering
competitive advantages and customer engagement, the study employs the Technology Acceptance

Page | 11
Model (TAM) to analyse five key aspects shaping consumers' decisions. Through Partial Least
Squares Structural Equation Modelling (PLS-SEM), the authors empirically evaluate the
relationships between these factors and customers' adoption of e-banking, contributing valuable
insights to the literature on technological adoption in the banking sector.

Indian Perspective:

❖ Shilpan Vyas (2012):

In the paper "Impact of E-Banking on Traditional Banking Services" (2012) by Vyas, the evolution
of Internet banking is explored, highlighting its transformative effects on banking relationships. The
traditional model of in-person branch transactions has given way to online processes, making Internet
banking a fundamental service in developed countries. The paper introduces e-banking, covering its
meaning, functions, types, and examining its advantages and limitations. Emphasizing that Internet
banking is now a necessity rather than a luxury, the research aims to uncover the implications of e-
banking on traditional banking services, reflecting the ongoing shift in the banking industry.

❖ Pooja Malhotra and Balwinder Singh (2009):

In their 2009 paper, "The Impact of Internet Banking on Bank Performance and Risk: The Indian
Experience," Pooja Malhotra and Balwinder Singh investigate the status of Internet banking in India
and its effects on the banking industry. Analyzing data from a survey of 85 scheduled commercial
banks' websites, the study reveals that 57 percent of Indian commercial banks offer transactional
Internet banking. While Internet banks tend to be larger and exhibit better efficiency ratios and
profitability, multiple regression analysis shows no significant association between profitability and
Internet banking adoption. However, a notable negative correlation is observed between Internet
banking and the risk profile of the banks, highlighting the complex relationship between Internet
banking, bank performance, and risk in the Indian context.

❖ Sudhakar A. M. and Suryanarayana (2011):

In their 2011 study, "Emerging mobile banking scenario and its adoption in India: a study," Sudhakar
A. M. and Suryanarayana explore the transformative impact of mobile banking in India. Fueled by
broadband and widespread mobile phone penetration, mobile banking is presented as a revolutionary
approach, creating efficient and cost-effective transactions between customers and banks. The study

Page | 12
discusses the current state of mobile banking in India and other countries, with a specific focus on
data security, standards, and the potential implications for the banking sector.

❖ Ani Smriti & Rajesh Kumar (2021):

In their 2021 article titled "Present Status of E-Banking in India: Challenges and Opportunities,"
Smriti Ani and Kumar Rajesh highlight the transformative impact of digitalization on the banking
sector. Internet banking, along with various digital channels, is playing a crucial role in addressing
challenges and enhancing customer services. The study underscores the potential for e-banking to
become the preferred mode of banking in India, especially among the younger generation. Private
sector banks dominate the POS terminal market, and prepaid payment instruments, notably mobile
wallets, are gaining popularity. The Government of India is actively working to ensure the safety and
reliability of e-banking. This research contributes to understanding the evolving landscape of e-
banking, shedding light on the changing banking behaviours in India.

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CHAPTER 3
❖ COMPANY PROFILE
❖E-BANKING SERVICES (w.r.t UCO BANK)

Page | 14
 COMPANY PROFILE

UCO Bank is one of the oldest commercial banks in India and is a company of the Government of
India. The board of directors of the company, as it is a government-affiliated company, is composed
of RBI (Reserve Bank of India) government officials and experts such as accountants, management
experts, economists, and businessmen.

Founded in 1943 by Ghanshyam Das Birla, the Doyen of the Indian Industrial Renaissance, after the
historic Quit India movement of 1942, headquartered in Calcutta, nationalized in 1969, and under the
full control of the government of India. Currently, the bank is ranking at 79th position on the Fortune
India 500 list. The bank has 4,000 plus service units and 49 zonal offices spread all over India.

Name of the Company: UCO Bank

Company type: Public

Year of Establishment: 6 January 1943

Founder: Ghanshyam Das Birla

Headquarters: Kolkata, West Bengal, India

CEO / MD: Shri Ashwani Kumar

(Fig 1)
Number of Employees: 22,012 employees

Website: https://www.ucobank.com

Motto: "Honours your Trust"

Vision Statement: To emerge as the most trusted, admired and sought-after world class financial
institution and to be the most preferred destination for every customer and investor and a place of
pride for its employees.

Page | 15
Mission Statement: To be a Top-class Bank to achieve sustained growth of business and
profitability, fulfilling socio-economic obligations, excellence in customer service; through
upgradation of skills of staff and their effective participation making use of state-of-the-art
technology.

Key Services and Products: UCO Bank offers a wide array of banking and financial services to
meet the diverse needs of its customers, including:

• Retail Banking: UCO Bank provides various retail banking services, including savings
accounts, fixed deposits, recurring deposits, personal loans, home loans, and credit cards.

• Corporate Banking: The bank offers a range of financial solutions for businesses, such as
working capital loans, term loans, trade finance, and cash management services.

• NRI Services: UCO Bank caters to the needs of non-resident Indians (NRIs) by offering
NRI accounts, remittances, and other specialized services.

• Government and Public Sector Banking: UCO Bank plays a significant role in serving the
financial requirements of government bodies and public sector organizations.

Financial Overview: UCO Bank has consistently shown a commitment to financial stability and
growth. As of the latest available financial reports, the bank has demonstrated steady revenue
growth and strong asset quality, reflecting sound financial management.
Market capitalization: Rs14,586.27 Crore (2022)
Annual Revenue: Rs18,166.42 Crore (2021)
Net Income/Profit: Rs167.03 Crore (2021)

Partnerships and Alliances: UCO Bank has established alliances and partnerships with various
financial institutions, including the National Housing Bank, Small Industries Development Bank of
India (SIDBI), and National Bank for Agriculture and Rural Development (NABARD).

Organisation Structure: Headquartered in Kolkata, the Bank has 43 Zonal Offices spread all over
India. Branches located in a geographical area report to the Zonal Office having jurisdiction over
that area. These Zonal Offices are headed by Senior Executives ranging up to the rank of General
Manager, depending on size of business and importance of location. The Zonal Offices report to the
respective Head Office Departments headed by General Managers/senior Deputy General
Managers.

Page | 16
SWOT Analysis of UCO bank:

Strengths: Weaknesses:
Innovative
Decreasing revenue
One of the oldest
Lesser retail banking
Country-wide
presence Depleted
infrastructure
Overseas presence
Commercial bank

Oppertunity: Threats:
Rapid economic Competitive misture.
expansion
Rising private sector
Tighter Govt banks
regulation
Economic crises
Opportunity in the
online sector High competition

(Fig 2)
Strengths of UCO Bank:
• Commercial Bank: Biggest strength of UCO Bank is that it is a commercial bank with a
94.44% stake being held by the government. The government, a major stakeholder in a bank
is indeed a plus point as it acts as a regulator, is free from fraud, and is more people-
oriented.
• One of the Oldest: Presence of 79 years makes it one of the oldest in the market and it also
establishes a kind of trust for its clients.
• Country-wide Presence: It has more than 4000 service units and 2,236 ATMs spread all
over India hence providing facilities in almost every part of the country.
• Overseas Presence: It is present in some of the international locations for the last 60+ years
like Singapore and Hongkong and is carrying out profitable overseas operations. This
international network is further augmented by correspondent arrangements with leading
banks.
• Innovative: UCO Bank provides every service to their customers from e-banking to loan
facilities to everything. Online Telebanking facilities are available to all its core customers
and individuals as well as corporate. UCO offers online services like UPI app for easing the
transaction process, net banking services, mBanking Plus app for credit card users.

Page | 17
Weaknesses of UCO Bank:
• Decreasing Revenue: Although it has a good client base it is slowly losing its market share
as the interest earned count is on a decreasing scale. It should soon come up with more
revenue models to increase its revenue and to become profitable in the long run.
• Lesser Retail Banking: In comparison to other banks, it has lesser retail banking. It is not
able to compete against the competition provided by private sector banks, due to
competitor’s good service their customer base is shifting towards private banks.
• Depleted Infrastructure: The infrastructure of its branches is very old and depleted. Along
with IT infrastructure it also needs to spend on its building infrastructure as other banks
have a well-acquainted infrastructure.

Opportunities for UCO Bank:

• Rapid Economic Expansion: This allows UCO Banks to expand into the US market as the
US economy is recovering faster than any other developed economy. UCO Bank already has
the necessary expertise to do business in the highly competitive US market.
• Tighter Government Regulation: These regulations make it more difficult for
disorganized stakeholders to enter the local banking industry. This allows UCO Banks to
expand their customer base.
• Opportunities in the Online Sector: As the acceptance of online services increases among
customers, UCO Bank can also offer new offers to customers in the regional banking
industry.

Threats to UCO Bank:

• Competitive Pressures: As the new product launch cycles are reducing in the financial
industry. It has put additional competitive pressures on players such as UCO Bank. Given
the large customer base, UCO Bank can’t respond quickly to the needs of the niche markets
that disruptors are focusing on.
• Rising Private Sector Banks: Private sector banks are developing novel investment
packages and thereby gaining market share among retail consumers.
• Economic Crisis: As a result of the economic crisis, clients are not saving money in banks,
reducing bank liquidity and making it difficult to operate efficiently.
• High Competition: The primary competitors are Bank of Baroda, Canara Bank, Bank of
India, Central Bank, Indian Overseas bank which are performing well.

Page | 18
 E-BANKING SERVICES (w.r.t UCO BANK)
Some common e-banking services that banks often provide:

• Automated Teller Machines (ATM)

• Electronic Funds Transfer (EFT) System
• Net banking
• Mobile banking
• SMS banking
• Electronic clearing service (ECS)

1. Automated Teller Machines (ATM):

An Automated Teller Machine (ATM) is an electronic device that enables users to perform financial
transactions without the need for a human cashier or bank teller. ATMs are widely used around the
world, providing convenient access to various banking services 24/7. The primary functions of an
ATM include cash withdrawals, balance inquiries, fund transfers, and in some cases, bill payments.

ATM in India:
The inception of ATMs in India dates back to 1987 when HSBC established the first one in Mumbai.
Over the subsequent twelve years, approximately 1500 ATMs were deployed across the country. In
1997, the Indian Banks' Association (IBA) introduced Swadhan, India's initial shared ATM network,
managed for five years. This network, overseen by the India Switch Company (ISC), permitted
cardholders to access cash from any ATM within the network, even if they lacked an account with
the owning bank, subject to a fee. By 2002, the network comprised over 1000 ATMs from 53 member
banks, capable of handling 250,000 transactions daily, though only 5000 transactions, totalling about
100,000, occurred each day. In contrast, ICICI Bank's network, consisting of approximately 640
ATMs, managed transactions worth around 20,000,000 daily. Following the expiration of the ISC
contract, the IBA struggled to find a bidder for the financially impractical network, leading to its
closure on December 31, 2003.

Post the Swadhan era, Bank of India, Union Bank of India, United Bank, Indian Bank, and Syndicate
Bank collaborated to form a sharing network named Cash Tree. Concurrently, Citibank, Industrial
Development Bank of India, Standard Chartered Bank, and Axis Bank established a parallel network
named Cashnet, while Punjab National Bank and Canara Bank created their own networks.

Page | 19
Services provided by ATMs:
• Cash Withdrawals: The primary function of ATMs is to allow users to withdraw cash from
their bank accounts. Customers can specify the amount they want to withdraw and receive the
corresponding denominations.
• Balance Inquiries: ATMs provide users with the ability to check their account balances,
allowing them to stay informed about their financial status.
• Fund Transfers: Many ATMs allow customers to transfer funds between their own accounts
or to other accounts within the same bank. Some ATMs also facilitate interbank fund transfers.
• Mini-Statements: Users can request mini-statements at ATMs, which provide a summary of
recent transactions and the current balance in their accounts.
• Bill Payments: In some cases, ATMs offer bill payment services, allowing users to settle
utility bills, credit card payments, and other financial obligations.
• Mobile Recharges: Some ATMs provide the option to recharge mobile phone accounts,
adding to the convenience for users.
ATM by UCO bank:

UCO Bank, like other banks, provides a network of ATMs that offer services such as cash
withdrawals, balance inquiries, mini-statements, fund transfers, and more. These ATMs are
strategically located to provide convenient access for customers.
Total no of ATMs- 2236

2. Electronic Funds Transfer (EFT) System:

Electronic Fund Transfer (EFT) refers to the electronic transfer of money from one bank account to
another, either within the same financial institution or across different institutions. This process
allows for the seamless and secure exchange of funds without the need for physical checks or cash.
This method allows users to initiate payments electronically, making it faster and more efficient
compared to traditional methods. EFT is commonly used for various purposes, such as direct deposit
of pay checks, bill payments, and online purchases.

a) NEFT:
NEFT stands for National Electronic Funds Transfer. It is a nationwide electronic payment system in
India that allows individuals, companies, and institutions to transfer funds from one bank account to
another. NEFT operates on a deferred net settlement (DNS) basis, which means that transactions are

Page | 20
settled in batches at specific intervals rather than in real-time. This system is maintained by the
Reserve Bank of India (RBI).

UCO bank NEFT charges:

Slab Charges
Rs. 10,000 -
Rs. 1 lakh -
Rs. 1 lakh to Rs. 2 lakhs Rs. 17
(Table 1)
More than Rs. 2 lakhs Rs. 17

Benefits of NEFT from UCO bank:

• UCO Bank NEFT is open to all - This online facility is available to all Net banking (current
and new) users.
• Customers can utilize UCO Bank NEFT at any time and from any location. It is simple and
straightforward to use - from home or workplace at any time and from any location, it saves
time and effort.
• UCO Bank NEFT Facility is simple, convenient, rapid, and secure - Users can transfer
payments to other banks' beneficiaries in a simple, convenient, and seamless manner.
Transferring funds to other banks is now faster, safer, and more secure.
• Get more for less - The UCO Bank NEFT is less expensive than traditional ways of
remittance like DD/MT.

b) RTGS:
The acronym 'RTGS' stands for Real Time Gross Settlement, which can be defined as the continuous
(real-time) settlement of funds transfers individually on an order-by-order basis (without netting).
'Real Time' means the processing of instructions at the time they are received rather than at some later
time.’
Gross Settlement' means the settlement of funds transfer instructions occurs individually (on an
instruction-by-instruction basis). Considering that the funds settlement takes place in the books of the
Reserve Bank of India, the payments are final and irrevocable. This means that transactions are settled
individually and immediately, without waiting for batch processing. RTGS is typically used for high-
value transactions.

Page | 21
‘Real Time Settlement’, RTGS is the fastest possible money transfer system through the banking
channel. RTGS is typically meant for larger value transactions and the minimum amount that can be
sent via this mode is Rs.2 lakh.
RTGS outward charges:
RTGS for Rs2lakhs- 5lakhs a) From 8 am to 11 am – Rs 29.50 per transaction
b) After 11.00 am to 13.00 hours – Rs 31.86 per transaction
c) After 13.00 hours to 16.30 hours – Rs 35.40 per transaction
d) After 16.30 hours - Rs 35.40 per transaction

RTGS above 5lakh a) From 8 am to 11 am – Rs 59.00 per transaction

b) After 11.00 am to 13.00 hours – Rs 61.36 per transaction
c) After 13.00 hours to 16.30 hours – Rs 64.90 per transaction
d) After 16.30 hours - Rs 64.90 per transaction

(Table 2)

c) IMPS:
IMPS stands for Immediate Payment Service. It’s an electronic funds transfer system that allows users
to send and receive money instantly. IMPS is facilitated by the National Payment Corporation of
India (NPCI).
IMPS allows users to make inter-bank and intra-bank transfers. It’s available 24/7, including
weekends and holidays.
To use IMPS, you must have a savings account with active mobile banking. You don’t need to share
bank details like account numbers to make transactions.
IMPS transactions are instant and usually take place within a few seconds. You can find the sender’s
details in your transaction history.
IMPS charges of UCO bank:
Up to Rs 10000 Rs 3.00
Rs 10001 to 100000 Rs 6.00
Rs 100001 to Rs 200000 Rs 17.00
(Table3)

3. Net Banking:
Net banking, or internet banking, refers to the use of the internet for performing various banking
activities and transactions. It allows customers to access their bank accounts, conduct financial
transactions, and avail of various banking services through a secure website or mobile application

Page | 22
provided by the bank. Net banking eliminates the need for customers to visit a physical bank branch
for routine transactions, providing a convenient and efficient way to manage their finances remotely.

Users can effortlessly check their account balance, review transaction history, and download
statements. The hassle of physical bill payments is eliminated as users can conveniently settle utility
and credit card bills online. Online shopping is made secure and seamless through net banking,
allowing users to make purchases using funds directly from their bank accounts. Mobile recharge for
phones and DTH services is simplified, providing users with a quick and accessible way to stay
connected. Users can also request essential services such as cheque books, account statements, and
address changes through the online platform. This comprehensive suite of services underscores the
efficiency and user-friendly nature of net banking in India.

UCO bank’s net banking website:

(fig 3)

4. Mobile Banking:

Mobile banking, in the Indian context, refers to the use of mobile devices such as smartphones or
tablets to perform various banking activities and transactions. It provides customers with the
flexibility and convenience to manage their finances on the go, without the need to visit a physical
bank branch. Mobile banking services are typically offered through dedicated mobile apps provided
by banks or through mobile browser interfaces. Security is a paramount concern in mobile banking,
and banks implement robust authentication measures, including PINs, passwords, biometrics, and
two-factor authentication, to ensure the safety of users' financial information.

Page | 23
The adoption of mobile banking has seen significant growth in India, driven by the increasing
penetration of smartphones and the government's push towards a digital economy. It has become a
crucial component of the overall digital banking ecosystem, offering users a convenient and
accessible way to manage their financial affairs.
UCO bank provides a mobile banking app called ‘UCO mBanking Plus’.

(fig4)

The UCO mBanking Plus app has the following advantages:

• Single login: Access multiple services with a single login

• User-friendly interface: Attractive and simplified interface
• Security features: Enhanced security features and SIM binding to mobile device
• Touch/Face ID login: Touch ID login and Favourite Transactions
• Save time and money: You can carry out most banking transactions from home

The app also includes the following features:

• UCO Pay Plus
• Locator
• Scan & Pay
• Branch and ATM locator
• Scan UPI & Bharat QR
• Payment in Single Screen

Page | 24
5. SMS/ E-Mail Banking:

The Bank will provide SMS/E-Mail alerts to all subscribed customers for all financial transactions

above a threshold limit. The Bank will also send SMS alerts for transactions made through Debit

cards.

The Bank will also provide an account Statement in the PDF format, through e-mail if requested by

the customer. The Bank will provide the balance position at agreed periodicity viz, weekly, fortnightly

etc. to current account holders with high transaction on request.

6. Electronic Clearing Service (ECS):

ECS is an electronic mode of payment / receipt for transactions that are repetitive and periodic in
nature. ECS is used by institutions for making bulk payment of amounts towards distribution of
dividend, interest, salary, pension, etc., or for bulk collection of amounts towards telephone /
electricity / water dues, cess / tax collections, loan instalment repayments, periodic investments in
mutual funds, insurance premium etc. Essentially, ECS facilitates bulk transfer of monies from one
bank account to many bank accounts or vice versa.
UCO Bank offers ECS services to its customers. With ECS, you can make or receive payments
automatically on a specified date, eliminating the need for physical paperwork and manual
intervention. This service is particularly useful for recurring payments such as insurance premiums,
loan EMIs, utility bills, etc.

Page | 25
CHAPTER 4
❖ OBJECTIVES
❖ SCOPE & LIMITATONS
❖ RESEARCH METHODOLOGY

Page | 26
 OBJECTIVES

• To understand how customers perceive and engage with e-banking services in the current
digital age.
• To unravel the dynamics of e-banking, emphasizing the unique services provided by UCO
Bank.
• To find out the major problems faced by the customers while using e-banking services.
• To know about the satisfaction level of customers towards E-banking service.

SCOPE & LIMITATIONS

SCOPE:
• To provide insights into the current scenario of E-banking in the Indian financial landscape,
considering regulatory frameworks, technological advancements, and customer adoption
trends.
• The study will provide an in-depth examination of various E-banking services, encompassing
online transactions, mobile banking, electronic fund transfers, and other digital financial
services.
• The scope includes a detailed investigation into the unique E-banking services offered by
UCO Bank, emphasizing the distinctive features that set it apart in the digital banking
landscape.

LIMITATIONS:

• Geographic Constraints: The study may be limited to a specific geographic region or customer
demographic, potentially affecting the generalizability of findings to a broader population.
Here the research is only based within Bhubaneswar area.
• Questionnaire is only main source for research.
• As sample size is not large it’s difficult to cover whole market.
• Time Sensitivity: Rapid advancements in technology may impact the relevance of findings
over time. The study's snapshot may not capture future developments in E-banking services.

Page | 27
 RESEARCH METHODOLOGY
This report is based on primary as well as secondary data, however primary data collection was given
more important since it is overhearing factor in attitude studies.

One of the most important uses of research methodology is that it helps in identifying the problem,
collecting, analysing the required information or data and providing an alternative solution to the
problem.

It also helps in collecting the vital information that required by the top management to assist them for
the better decision making both day to day decisions and critical ones.

Research Design: Exploratory Research

Data Collection method: Questionnaire Method

Universe: Bhubaneswar

Sampling Method: The sample was collected through google form through filling up the
questionnaire prepared. The data has been analysed by using mathematical and statistical tools.

Sample Size: 50 respondents

Sampling Unit:

• Registered Candidates (Students)

• Customers of UCO bank

Data Source:

• PRIMARY DATA: - Primary data are those, which were collected a fresh & for the first time and
these happens to be original in character. However, there are many methods of collecting the primary
data, all have not used for the purpose of this project. The ones that have been used are: Questionnaire,
Informal interviews, Observation.

• SECONDARY DATA: - Secondary data is collected from previous researches and literatures to fill
in the respective project. The secondary data was collected through: Text books, Articles, Journals,
Bank records and Websites.

Data Collection Instrument: Structured Questionnaire

Sample Design: Data has been presented with the help of Tables and Pie Chart.

Page | 28
CHAPTER 5
❖ DATA ANALYSIS & INTERPRETATION

Page | 29
 DATA ANALYSIS & INTERPRETATION
1. What is your age group?

OPTIONS NO. OF RESPONDENTS PERCENTAGE (%)

Under 18 6 12%

18-25 16 32%

26-46 13 26%

46 and above 15 30%

TOTAL 50 100%

(Table-4)

Fig5

12%
30%

under 18
32% 18-25
26-46
26% 46 & above

Interpretation:

From the above chart and table, we concluded the percentage distribution of survey respondents
across different age groups. For instance,12% of the respondents fall within the age range under 18,
32% fall within the age range of 18-25, 26% fall within the age range 26-46, while 30% fall under
the age group of 46 & above.

Page | 30
2. How often do you use e-banking services?

OPTIONS NO. OF RESPONDENTS PERCENTAGE (%)

Daily 20 40%

Weekly 15 30%

Monthly 8 16%

Rarely 5 10%

Never 2 4%

TOTAL 50 100%

(Table-5)

Fig6

4%
10%

40% Daily
16%
Weekly
Monthly
Rarely
30%
Never

Interpretation:

From the above chart and table, we concluded the percentage distribution of survey respondents based
on how frequently they use e-banking services. For instance, 40% of the respondents use e-banking
services on a daily basis, 30% use on a weekly basis, 16% use on a monthly basis, while 10% use
them rarely and 5% never use e-banking.

Page | 31
3. Are you aware of the e-banking services offered by UCO Bank?

OPTIONS NO. OF RESPONDENTS PERCENTAGE (%)

YES 37 74%

NO 13 26%

TOTAL 50 100%

(Table-6)

Fig 7

26%

Yes

74% No

Interpretation:

From the above chart and table, we concluded 75% of the respondents are aware of the e-banking
services offered by UCO Bank, while 25% are not. These percentages indicate the level of awareness
among the surveyed population.

Page | 32
4. On a scale of 1 to 10, how would you rate your overall satisfaction with UCO Bank's e-
banking services?

OPTIONS NO. OF RESPONDENTS PERCENTAGE (%)

1-3 (Low satisfaction) 6 12%
4-6 (Moderate satisfaction) 15 30%
7-8 (High satisfaction) 20 40%
9-10 (Very high satisfaction) 9 18%
TOTAL 50 100%
(Table-7)

Fig8

18% 12%

1-3(Low satisfaction)
30%
4-6(Moderate satisfaction
7-8 (High satisfaction)
40%
9-10 (Very high satisfaction)

Interpretation:

From the above chart and table, we concluded the percentage distribution of respondents' satisfaction
levels. For example, 12% people indicated low satisfaction, 30% indicated moderate satisfaction,
40% of respondents rated their satisfaction as high, while 18% indicated very high satisfaction.

Page | 33
5. What channels do you primarily use for e-banking transactions?

OPTIONS NO. OF RESPONDENTS PERCENTAGE (%)

Website 10 20%

Mobile App 17 34%

ATM 20 40%

Other 3 6%

TOTAL 50 100%

(Table-8)

Fig9

6%
20%

website
40%
mobile apps

34% ATM
other

Interpretation:

From the above chart and table, we concluded the percentage distribution of survey respondents based
on the primary channels they use for e-banking transactions. For instance, 40% of the respondents
primarily use the ATM for e-banking, while 34% prefer the mobile app, 20% prefer websites and 6%
prefer other channels.

Page | 34
6. How would you rate the user-friendliness of UCO Bank's e-banking platforms?

OPTIONS NO. OF RESPONDENTS PERCENTAGE (%)

Not user-friendly at all 6 12%

Slightly user-friendly 16 32%

Moderately user-friendly 14 28%
Very user-friendly 10 20%
Extremely user-friendly 4 8%
TOTAL 50 100%
(Table-9)

Fig 10

8% 12%

20%
Not user friendly at all

32% Slightly user friendly

Moderately user friendly

28% Very user friendly

Extremely user friendly

Interpretation:

From the above chart and table, we concluded the percentage distribution of respondents' perceptions
regarding the user-friendliness of UCO Bank's e-banking platforms. It suggests that 8% of
respondents find the platforms extremely user-friendly, 20% find it very user friendly, 28% find it
moderately user friendly, 32% find it slightly user friendly, while 12% feel that they are not user-
friendly at all.

Page | 35
7. How would you describe your level of trust in the security measures of UCO Bank's e-banking
services?

OPTIONS NO. OF RESPONDENTS PERCENTAGE (%)

Very low 2 4%
Low 3 6%
Neutral 7 14%
High 20 40%
Very high 18 36%
TOTAL 50 100%
(Table-10)

Fig11

4% 6%

36% 14%
Very low
Low
Neutral
High
40%
Very High

Interpretation:

From the above chart and table, we concluded the percentage distribution of respondents based on
their level of trust in the security measures of UCO Bank's e-banking services. For example, 40% of
respondents have a very high level of trust, 36% have high level, while 14% are neutral, 6% have a
low level of trust and 4% have very low level trust.

Page | 36
8. Are you aware of any promotional or educational efforts by UCO Bank to inform
customers about their e-banking services?

OPTIONS NO. OF RESPONDENTS PERCENTAGE (%)

Yes 20 40%
No 30 60%
TOTAL 50 100%
(Table-11)

Fig 12

40%

60% Yes
No

Interpretation:

From the above chart and table, we concluded that 60% of the respondents are aware of promotional
or educational efforts by UCO Bank to inform customers about their e-banking services, while 40%
are not aware. This percentage breakdown provides insights into the effectiveness of UCO Bank's
communication and promotional strategies in creating awareness among its customer base.

Page | 37
9. E - banking is more effective than branch banking about time saving.

OPTIONS NO. OF RESPONDENTS PERCENTAGE (%)

Strongly disagree 2 4%
Disagree 5 10%
Neutral 8 16%
Agree 24 48%
Strongly agree 11 22%
TOTAL 50 100%
(Table-12)

Fig 13

4%
10% 22%

16% Strongly agree

Agree
Neutral
Disagree
48%
Strongly disagree

Interpretation:

From the above chart and table, we concluded highest percentage of people with 48% agree that e-
banking is more effective. And almost similar that strongly agree with 22%. And remaining are
neutral, disagree or strongly disagree.

Page | 38
10. It is convenient because it eliminates the risk of carrying cash.

OPTIONS NO. OF RESPONDENTS PERCENTAGE (%)

Strongly disagree 2 4%
Disagree 4 8%
Neutral 11 22%
Agree 19 38%
Strongly agree 14 28%
TOTAL 50 100%
(Table-13)

Fig14

4%
8%
28%
Strongly disagree
22%
Disagree
Neutral
Agree
38%
Strongly Agree

Interpretation:

From the above chart and table, we concluded that highest percentage of people with 38% agree that
e-banking is convenient. While 8% customer disagree with e-banking and 4% strongly disagree.
22.5% people are neutral and 28% are strongly agree.

Page | 39
11. Websites are safe that offer e-banking services.

OPTIONS NO. OF RESPONDENTS PERCENTAGE (%)

Strongly disagree 2 4%
Disagree 15 30%
Neutral 11 22%
Agree 19 38%
Strongly agree 3 6%
TOTAL 50 100%
(Table-14)

Fig15

6% 4%

30% Strongly disagree

38% Disagree
Neutral
Agree
22%
Strongly agree

Interpretation:

From the above chart and table, we concluded that 38% of the respondents think that e banking
websites are safe while 30% disagree about the safety. 22% are neutral and 6% of the respondent
strongly agree while 4% strongly disagree about the website safety.

Page | 40
12. Bank officer should be in front of me during the process.

OPTIONS NO. OF RESPONDENTS PERCENTAGE (%)

Agree 19 36%
Neutral 15 30%
Disagree 17 34%
TOTAL 50 100%
(Table-15)

Fig 16

34% 36%

Agree
Neutral
Disagree
30%

Interpretation:

From the above chart and table, we concluded that 36% of the respondents agree that a bank officer
should be present during any banking process while 34% disagree it. And the remaining 30% are
neutral.

Page | 41
13. E-banking transactions are complex.

OPTIONS NO. OF RESPONDENTS PERCENTAGE (%)

Strongly disagree 2 4%
Disagree 16 32%
Neutral 11 22%
Agree 17 34%
Strongly agree 4 8%
TOTAL 50 100%
(Table-16)

Fig17

8% 4%

32% Strongly disagree

34% Disagree
Neutral
Agree
22%
Strongly agree

Interpretation:

From the above chart and table, we concluded that 34% of the respondents think that e banking is
complex while 32% disagree. 22% are neutral. 8% people strongly agree while 4% people strongly
disagree.

Page | 42
14. Banks give enough information about the internet banking service.

OPTIONS NO. OF RESPONDENTS PERCENTAGE (%)

Strongly disagree 6 12%
Disagree 14 28%
Neutral 13 26%
Agree 12 24%
Strongly agree 5 10%
TOTAL 50 100%
(Table-17)

Fig 18

10% 12%

24% Strongly disagree

28% Disagree
Neutral
Agree
26%
Strongly agree

Interpretation:

From the above chart and table, we concluded that 28% of respondents disagree that banks give
enough information about the internet banking and 12% strongly disagree. 24% agree that banks give
enough information and 10% strongly agree. And the remaining 26% are neutral.

Page | 43
CHAPTER 6
❖FINDINGS
❖SUGGESTIONS
❖CONCLUSION

Page | 44
 FINDINGS

• According to the survey, a majority of individuals utilize e-banking services primarily for
time-saving benefits and efficient transactions.
• In the Bhubaneswar area, a significant portion of customers is internet-savvy and well-
informed about the available e-banking services.
• Customer satisfaction with e-banking is high, attributed to the speed and cost-effectiveness of
transactions, ultimately saving time.
• Despite the positive feedback, not all individuals are highly educated, leading to a lack of trust
in e-banking services due to insufficient information and confusion regarding their usage.
• Many people prefer mobile apps and ATM facilities for their daily transactions, appreciating
the convenience of withdrawing money from any location.

SUGGESTIONS
• Schedule a meeting with the e-banking officer to address customer expectations and enhance
overall satisfaction with the services.
• Emphasize the importance of security by encouraging customers to take necessary
precautions, such as safeguarding their passwords.
• Implement additional training sessions for both employees and customers to enhance their
understanding of e-banking procedures.
• Prioritize addressing technology and security-related concerns when providing customer care
services.
• Launch awareness campaigns to address the perception that the bank does not provide
sufficient information about e-banking.
• Provide educational resources to customers, imparting knowledge about the benefits and safe
usage of e-banking.

Page | 45
 CONCLUSION

In conclusion, the survey highlights the widespread adoption of e-banking services, driven by the
desire for time-saving and efficient transactions. While customer satisfaction is generally high due to
the speed and cost-effectiveness of e-banking, there are notable challenges. Notably, some customers,
particularly those less educated, face trust issues and confusion about the usage of e-banking services,
indicating a need for increased awareness and education. To address these challenges, it is crucial to
organize meetings with bank officers to better understand and meet customer expectations. Bank
employees should actively note and resolve customer problems, fostering a more responsive and
supportive environment. Reinforcing the safety measures associated with e-banking, such as
password protection, is vital to instil confidence in customers. Additionally, ongoing training for both
employees and customers is essential to enhance their proficiency in handling e-banking procedures.
Special attention should be given to addressing technology and security-related issues. Launching
awareness campaigns is recommended to bridge the information gap and dispel any perception that
the bank lacks transparency in providing details about e-banking services. In conclusion, a
comprehensive approach that combines customer education, employee training, and proactive
problem resolution will contribute to a more secure, efficient, and customer-friendly e-banking
experience.

Page | 46
ANNEXURE

Page | 47
 BIBLIOGRAPHY

RESEARCH PAPERS:

• Liébana-Cabanillas, F., Muñoz-Leiva, F., & Rejón-Guardia, F. (2013). The determinants of

satisfaction with e-banking. Industrial Management & Data Systems, 113(5), 750-767
• Chaimaa, B., Najib, E. & Rachid H. (2021). E-banking Overview: Concepts, Challenges and
Solution. Wireless Pers Communication,117, 1059-1078
• Carranza, R., & Díaz, E. (2021). E-Banking Adoption: An Opportunity for Customer Value
Co-creation. Frontiers in Psychology, 11
• Vyas, S., (2012). Impact of E-Banking on Traditional Banking Services. International Journal
of Computer Science and Communication Networks, 02
• Malhotra, p., Singh, B., (2009) The Impact of Internet Banking on Bank Performance and
Risk: The Indian Experience. Eurasian Journal of Business and Economics,2(4), 43-62
• Sudhakara, A.M., & Murthy, M.R. (2011). Emerging Mobile Banking Scenario and its
Adoption in India: a Study. SRELS Journal of Information Management, 48, 41-50.
• Smriti, A., & Kumar, R. (2021). Present status of e-banking in India: challenges and
opportunities. International Journal of Creative Research Thoughts, 9

WEBSITES:

• https://www.ucobank.com
• https://www.wikipedia.org
• https://www.jstor.org
• https://groww.in
• https://www.bankguide.co.in
• https://iide.co
• https://www.scribd.com
• http://www.slideshare.net

Page | 48
 • https://chat.openai.com
• http://www.scholar.google.com/citations

NEWSPAPERS:

• The Economic Times

• Business Standard
• Mint

BOOKS:

• Ravindra Kumar, Manish Deshpande (2016). E-Banking, Pacific Books International, Delhi.
• Vikash Taneja, Sakshi Parashar (2011). E-Banking and E-Commerce, Alfa publication.

Page | 49
 Questionnaire
Dear Sir/Madam,
I am Aditi Sarangi, a student of IMBA Department at BJB Autonomous College, Bhubaneswar. For
the partial fulfilment of my Master of Business Administration, I am undertaking a project and my
topic is “Navigating the e-banking landscape: (with special reference to UCO bank)" In order to
make this study successful, I seek your precious time and kind co-operation in answering the
questions mentioned below related to my topic of study. The information shared by you will be kept
confidential and authentic to your knowledge and will be only used for academic purpose only.

1.What is your age group?

(a) Under 18 (b) 18-25 (c) 26-46 (d) 46 & above

2. How often do you use e-banking services?

(a) Daily (b) Weekly (c) Monthly (d) Rarely (e) Never

3.Are you aware of the e-banking services offered by UCO Bank?

(a)Yes (b)No

4. On a scale of 1 to 10, how would you rate your overall satisfaction with UCO Bank's e-banking
services?
(a) 1-3 (low (b)4-6 (moderate (c) 7-8 (high (d) 9-10 (very high
satisfaction) satisfaction) satisfaction) satisfaction)

5. What channels do you primarily use for e-banking transactions?

(a) Website (b) Mobile apps (c) ATM (d) Other

6. How would you rate the user-friendliness of UCO Bank's e-banking platforms?

(a) Not user- (b) Slightly user- (c) Moderate user- (d) Very user- (e) Extremely
friendly at all friendly friendly friendly user-friendly

7. How would you describe your level of trust in the security measures of UCO Bank's e-banking
services?
(a) Very low (b) Low (c) Neutral (d) High (e) Very high

8. Are you aware of any promotional or educational efforts by UCO Bank to inform customers about
their e-banking services?

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(a) Yes (b)No

9. E-banking is more effective than branch banking about time saving.

(a) Strongly (b) Disagree (c) Neutral (d) Agree (e) Strongly agree
disagree

10. It is convenient because it eliminates the risk of carrying cash.

(a) Strongly (b) Disagree (c) Neutral (d) Agree (e) Strongly agree
disagree

11.Websites are safe that offer e-banking services.

(a) Strongly (b) Disagree (c) Neutral (d) Agree (e) Strongly agree
disagree

12. Bank officer should be in front of me during the process.

(a) Agree (b) Neutral (c) Disagree

13.E-banking transactions are complex?

(a) Strongly (b) Disagree (c) Neutral (d) Agree (e) Strongly agree
disagree

14. Banks give enough information about the internet banking service.
(a) Strongly (b) Disagree (c) Neutral (d) Agree (e) Strongly agree
disagree

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