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A RESEARCH PROJECT REPORT On “A study on level of customer awareness about e-banking services offered by different banks in Ambala district

of Haryana” SUBMITTED FOR THE PARTIAL FULFILLMENT OF THE REQUIREMENT OF PAPER CP-402 FOR THE DEGREE OF MASTERS OF BUSINESS ADMINISTRATION (MBA) (Session 2010-2012)

UNDER THE GUIDANCE OF: PROF: Dr.Bhavet GARG MMIM, MM UNIVERSITY, MULLANA, AMBALA

SUBMITTEDBY: LAL RAJIV NATH SHAHDEO MBA FINAL Roll no-1210740

Submitted to:

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MAHARISHI MARKANDESHWAR INSTITUTE OF MANAGEMENT MAHARISHI MARKANDESHWAR UNIVERSITY, MULLANA- AMBALA (HARYANA)

DECLARATION
I hereby declare that the dissertation entitled “A study on level of customer awareness about e- banking services offered by different banks in Ambala district of Haryana.” submitted for the Degree of Master of Business Administration is my original work and the dissertation has not formed the basis for the award of any degree, diploma, associateship, fellowship or similar other titles. It has not been submitted to any other University or Institution for the award of any degree or diploma.

Date: Place:

NAME: LAL RAJIV NATH SHAHDEO.

Roll No – 1210740

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CERTIFICATE

This is to certify that Mr.Lal Rajiv Nath Sahdeo is a bonafide student of MBA final year of MMIM, Mullana. He has carried out a research work on “A study on level of customer awareness about e – banking services offered by different banks in Ambala district of Haryana.” committed in partial fulfillment of the requirement for the degree of Master of Business Administration (MBA) from Maharishi Markandeswar University. The work done by him is found satisfactory and original. I forward this project report to Maharishi Markandeswar University for evaluation.

Date: Place: GARG

Asst. Prof. Dr.Bhavet

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ACKNOWLEDGMENT
I am thankful to Asst. Prof. Dr.Bhavet Garg faculty of MMIM, my project guide, for her timely cooperation and efforts for me. Her guidance helped me a lot to complete my report in the allotted time period. I would like to express my sincere gratitude to all of those that had helped me to prepare this report in present form. It strongly feels this duration was too short for this making report. Although I have tried my best in this work yet I don’t have misconception of it being perfect. Any criticism will make me more proficient in future work.

(LAL RAJIV NATH SHAHDEO)
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In the US.And though this is just 0. Thus indicating that the concept of Internet Banking is surely catching on. the truth is that India lags behind other countries in Internet Banking. in the US approximately 78% of all commercial banks with assets more than $5 billion. 275 or 12% of the total number of banks. At present.India has a little less than a million active Internet banking users .096 % of the total population. the number of commercial banks with transactional websites is 1. The perceptions and the expectation of the customers have undergone a sea change. the total number of registered users and multiple accounts (a user having accounts with more than one bank). Impressive as these figures might be. with the availability of banking services to the customers at their doorsteps through the help of technology. As per IDC estimates. 43% of banks with $ 500 million to $ 5 billion 5 .EXECUTIVE SUMMARY A look at the mentioned below various associative banks has entered into and it is obvious that IT is central to banking.

1996 to 1998 marked the adoption phase.” Earlier. Core banking applications help a bank to shift from ‘Branch Banking’ to ‘Bank Banking’. banks could decide when and where they wanted customer interfaces. now customers decide when and where they will access banking channels. and 10% of banks under $ 500 million in assets have transactional websites. Says C N Ram. centralized operations and process automation using core-banking applications and IPbased networks improve efficiency and productivity levels tremendously. Indian Banks have an insignificant Internet Banking record. ICICI Bank kicked off online banking way back in 1996 and a host of other banks soon followed suit. while usage increased only in 1999due to lower ISP online charges. In contrast. Information technology. we were not enamored by the concept of Internet Banking but looked at it more as an add-on service which our customers should gradually adopt.in assets. Today. head. “Our vision was very clear. increased PC penetration and a techfriendly atmosphere. HDFC Bank. But even for the Internet as a whole. The services. Banks are looking at newer ways to make a customer’s banking experience more convenient. which can be availed of as of date. efficient and effective. 6 . They are using new technology tools and techniques to identify customer needs and are offering tailor-made products to match them.

7 Scope of the Study 3. I {-networks let a bank offer multiple services over the same network. Introduction Review of Literature Research Methodology 3.4 Sampling Procedure and Design 3. 3. This basically means that a customer will be treated as a bank’s customer than just the customer of a particular branch.10 Limitation of the Study title page no 8-14 15-17 18-21 4. which was the case earlier. CONTENTS Chapter no Declaration Certificate Acknowledgement Executive Summary 1. resulting in costs savings. Also.8 Sampling Method 3.2 Objectives of the Study 3.5 Method of data Collection 3.9 Significance of the Study 3.Internet Banking not only helps in acquiring more customers but it also reduces problems if customer visits bank physically. Profiles of various banks 7 22-47 . 2.1 Selection of the Topic 3.6 Analysis and Interpretation of Data 3.

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Comparison of various E-Banking services Analysis and Interpretation Findings and Suggestions Conclusions Annexure (s) (i) Sample Questionnaire (ii) Bibliography INTRODUCTION

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Earlier people would be tired standing in along queue waiting for a passbook to be updated or they would wait for the next day for the demand draft to be prepared but now Internet Technology has invaded the portals of our banking institutions and as the cliché goes everything will just be a click away. No doubt, innovations like telebanking and automated teller machines (ATM’s) have considerably put customers at ease on the recent past. But with net banking the customer will be able to transact with the help of a mouse and his visits to the neighbourhood bank will become a thing of the past. In the age of electronic technology the regular application of computing, wireless communication, networking, etc, in the banking field has brought revolutionary change in the traditional ways banks do business. Today, your bank can serve you at home, or allow you to serve yourself from anywhere. You can draw your money from ATM’s, you can check your accounts through the Internet, and you can phone the bank to send you a representative. Not only that, your physical bank which is still around8

suddenly seems to be doing a lot more things than just banking. It is technology that is making all this possible. Internet banking has gained wide acceptance internationally and seems to be fast catching up in India with more and more banks entering the fray. This is why, most, most modern banks instead of merely dealing with financial deposits and loan apply promote, and distribute the want-satisfying products, services and ideas to start its journey towards development of computer and other technology based digital economy since 1960 to ensure quality service to its customers. TECHNOLOGY –THE GOVERNING FACTOR: It is the technology that is making easy operation of banks. Even 10 years back, banks would have found it impossible to provide even basic banking services to millions of small and medium customers with all their branches. At the back end technology is freeing bank employees to concentrate on value-added work rather than just mundane necessities. Today, technology offers options where banks can almost literally address a market of one with a customized product or service. Though a modest start has been made in India, net banking has still a long way to go. This development has been acknowledged by the latest Online Banking Report, which features a listing for ICICI Bank .Some others have also endeavored to make real time banking a reality before this century closes. Reasons why new private and multi-national banks have been able to survive, thrive, and adapt in an increasingly competitive space.

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These banks were able to leverage on low-cost channels such as ATM’s and Net Banking to the optimum levels contributing to reduced operating costs. The cost of transactions over channels like ATM’s and the Internet are lower than doing it through the branches-Banks have realized that shifting customer access to lower cost channels can help bring down operating costs. These channels are used not only to improve customer service but also to divert traffic from the branches. Customers using ATM’s, phones and the Internet not only allow banking transactions, but also cross-selling of other financial products and services. For example, if the cost of a branch banking transaction is taken at Rs100/-, the cost of an ATM transaction would be around Rs30/-, phone banking around Rs20/-, and internet banking around Rs5/-.But this does not mean that branch banking is obsolete. Rather, banks are reinventing their business models to offer new financial services through its branches. At the back-end, technology is freeing bank employees to concentrate on value-added work rather than just mundane necessities. In computerized banks, once a transaction is posted it is auto-reconciled. This system is easy and frees people to concentrate on other customer services.

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NEW HORIZONS The important factor that is causing a shift in the industry is that of conveniences for the consumer. People need timely access to banking services, and have less time to spend at banks, and prefer the convenience of long distance banking. Of course, society’s view of what is convenient is changing .People were accustomed to associating convenience with doing business in their neighbourhood, and not traveling to a bank across town. Now, however, society has a different definition of bank convenience. Also, we should mention it is directly due to mergers that banks are able to offer more full service branches, and ATM machines. This is more convenient to the customers, and creates bank loyalty. Increased use in ATM’s , the growing use of home and office computers, fax machines, and point of sale terminals allowing consumers to make transaction electronically is now considered convenient. Thus, branch location is no longer a priority from the consumer’s view.

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BANK NAME TECHNOLOGY VENDOR SERVICE OFFERING Net Banking ADCB Net Link ABN AMRO Bank Abu Commercial Bank Bank of India Deutche Bank Federal Bank HDFC Bank HSBC ICICI Bank IDBI Bank IndusInd Bank Infosys (Bank Away) Dhabi Infosys (Bank Away) I-Flex BOIonline Db direct Sanchez i-flex / Satyam Fed Net Net Banking Online@hsbc Infosys. ICICI Infotech Infosys (Bank Away) CR2 12 Infinity i-net banking IndusNet .

• View all the transactions completed on an account for a specified period and get a copy via e-mail. • Inquire on the balance in one’s saving. • Open a Fixed deposit (FD) account via the net. • Give instructions over the net for stopping payment on a cheque/s. current and FD account and also on the tax deducted at source on one’s FD account for the current and financial year.Request for a chequebook via the Internet. The customers need not necessarily positively evaluate the 13 .Punjab National Bank State Bank of India Infosys (Bank Away) Satyam / Broad vision Onlinesbi. • Order for an issue of a demand draft can be delivered only to the customer’s address and not to any other party. Though relationship tends to look impersonal the customers should feel it personal. ARE: • Transfer one’s money from one city to any other branch in a city. One needs to provide data regarding the amount and term of the deposit and also the branch in which the account is opened. which will take three days to come.com THE SERVICES. WHICH CAN BE AVAILED AS OF DATE.

With the aid of technology they should further mechanize and automate the services offered to customers. 14 .personalized services offered by the bank. Therefore bank should be cautious to ensure that customers feel the services as personal and useful.

15 . from Level 1 . In other words a successful Internet banking solution offers · Exceptional rates on Savings.minimum functionality sites that offer only access to deposit account data . and IRAs · Checking with no monthly fee.such as investment and insurance. Even the Morgan Stanley Dean Witter Internet research emphasized that Web is more important for retail financial services than for many other industries.to Level 4 sites highly sophisticated offerings enabling integrated sales of additional products and access to other financial services.REVIEW OF LITERATURE Internet Banking in India The Internet banking is changing the banking industry and is having the major effects on banking relationships. Internet banking involves use of Internet for delivery of banking products & services. free bill payment and rebates on ATM surcharges · Credit cards with low rates · Easy online applications for all accounts. It falls into four main categories. CDs.

However there has constantly been a literature gap on the issue in India. Retail and corporate banking Booz Allen Hamilton (1997) conducted a global survey covering 386 retail and corporate banking institutions in 42 countries to assess the strategic impact of Internet banking on the financial service industry. The study also indicates the rapid growth potential of Internet banking. Many of the banks that responded have plans to upgrade the functionality of their Internet service offerings. 16 . there is a huge perception gap between North American/European banks and Japanese banks regarding the future of Internet banking. North American and European banks expect Internet banking to become the most important retail channel within 10 years. Internet banking that has revolutionized the banking industry world wide has turned out to be the nucleus issue of various studies all over the world. but Japanese banks expect traditional branches to remain the most important channel. India The tremendous advances in technology and the aggressive infusion of information technology had brought in a paradigm shift in banking operations. According to the study. Department of Commerce and Business Management.Adoption of Internet Banking: An Empirical Investigation of Indian Banking Sector By Balwinder Singh. Reader. Amritsar. GuruNanak Dev University. The purpose of this paper is to help fill significant gaps in knowledge about the Internet banking landscape in India.

adjust their risk management practices in tandem with upgrading their technology activities. Electronic payments and remote banking First et. In this environment. (1998) a U. banks offering Internet banking and analyzed the structure and performance characteristics of these banks.Banks offering Internet banking England (1998) conducted the first important study that estimated the number of U. particularly in retail banking. both from the point of view of individual financial institutions and economy-wide.S. al. banks should review and.S. They have found no evidence of major differences in the performance of the group of banks offering Internet banking activities compared to those that do not offer such services. 17 . banks have greatly increased their investment in technology. based study found out a significant shift by consumers and businesses to electronic payments. In response to developments in electronic payments and remote banking. The gains from technological advancements in banking and payments are likely to be substantial. if necessary.

RESEARCH METHODOLOGY Research can be defined as scientific and systematic search for pertinent information on the specific topic. It includes research design. collecting. The main steps involved in research process are: ♦ Research Design ♦ Types of Research ♦ Research Problem ♦ Objective of Study ♦ Sample design ♦ Methods of data collection ♦ Analysis and interpretation of data ♦ Scope of the study ♦ Significance of Study ♦ Limitations of the Study 18 . Research Methodology is a way to systematically solve the research problem. date collection and procedure of analysis of research instrument. organizing and evaluating data. • The purpose of research methodology section is to describe the procedure for conducting the study. sample size. Research methodology comprises of defining the problem. so research means careful investigation or inquiry especially through search for new fact in the branch of knowledge. Thus. reaching conclusions and suggesting solutions.

19 . As the research type is descriptive.Analytical Research Descriptive research: To conduct the research work accurately. includes surveys and fact-finding inquiries of different Analytical research: In it.♦ RESEARCH DESIGN: Research design is the framework which determines the course of action towards the collection and analysis of required data. observation and library research. It kinds. we have to use facts and information already available and analysis these to make an evaluation for project. The methodology of study will be through interviews. ♦ TYPES OF RESEARCH: This research employed two types of research: . so we will be using Descriptive Research Design to do our Research work. we conducted descriptive research.Descriptive Research .

OBJECTIVE OF THE STUDY 1. To access the satisfaction level experienced by the users of Internet Banking Services. 3. 20 . 4. To access the present scenario of the services of Internet Banking. To study the problems faced by the consumers in availing the Internet Banking Services. 2. To study the scope of Internet Banking in future.

Primary Data: The primary data collection was done through the survey method. Sample Size: 40 respondents Sampling Method: Non-Probabilistic convenience sampling. SBI BANK. The survey was conducted using the questionnaire method.Problem Defining: The project was mainly concerned with evaluating the performance of Internet Banking Services and finding out the scope of Internet Banking Services by doing a comparative analysis of the Internet Banking Services provided by ICICI BANK. Sampling Area: Ambala Sources of Data: The data was collected from both primary and secondary sources. Secondary Data: Secondary data was collected from the following sources: a) Books on Internet Banking b) Internet c) Journals 21 . Sample Unit: Individuals who are availing Internet Banking Services. HDFC BANK.

PROFILES OF VARIOUS BANKS 22 .

shaped by ideas culled from similar developments in Europe and England. and was influenced by changes occurring in the structure of both the local trading environment and those in the relations of the Indian economy to the economy of Europe and the global economic framework. The Bank of Bombay (15 April 1840) and the Bank of Madras (1 July 1843) followed the Bank of Bengal. 23 . the three presidency banks came into existence either as a result of the compulsions of imperial finance or by the felt needs of local European commerce and were not imposed from outside in an arbitrary manner to modernise India's economy. These three banks remained at the apex of modern banking in India till their amalgamation as the Imperial Bank of India on 27 January 1921. Their evolution was.* Primarily Anglo-Indian creations. however. Three years later the bank received its charter and was re-designed as the Bank of Bengal (2 January 1809).PROFILES OF VARIOUS BANKS PROFILE OF SBI Evolution of SBI The origin of the State Bank of India goes back to the first decade of the nineteenth century with the establishment of the Bank of Calcutta in Calcutta on 2 June 1806. A unique institution. it was the first joint-stock bank of British India sponsored by the Government of Bengal.

joint-stock banking in India. The establishment of the Bank of Bengal marked the advent of limited liability. which were revised from time to time. and especially upto the time that the three presidency banks had a right of note issue. a capital on which the proprietors did not have to pay any interest. which would be accepted for payment of public revenues within a restricted geographical area.Bank of Bengal H. The concept of deposit banking was also an innovation because the practice of accepting money for safekeeping (and in some cases. This right of note issue was very valuable not only for the Bank of Bengal but also its two siblings.O. which managed the affairs of each bank. 24 . for a long time. The members of the board of directors. But. were mostly proprietary directors representing the large European managing agency houses in India. It meant an accretion to the capital of the banks. bank notes and government balances made up the bulk of the investible resources of the banks. The three banks were governed by royal charters. the decision to allow the Bank of Bengal to issue notes. viz. So was the associated innovation in banking. even investment on behalf of the clients) by the indigenous bankers had not spread as a general habit in most parts of India. the Banks of Bombay and Madras. Each charter provided for a share capital. four-fifth of which were privately subscribed and the rest owned by the provincial government.

The Government could lend to the presidency banks from such Reserve Treasuries but the latter could look upon them more as a favour than as a right. brought the three presidency banks under a common statute with similar restrictions on business. though the banks continued to hold charge of the public debt offices in the three presidency towns. The proprietary connection of the Government was. deposits and advances of Rs. Imperial Bank of India When India attained freedom.94 crores respectively and a network of 172 branches and more than 200 sub offices extending all over the country.14 crores and Rs. The Act also stipulated the creation of Reserve Treasuries at Calcutta.275. terminated. 25 . and the custody of a part of the government balances.11. the Imperial Bank had a capital base (including reserves) of Rs.72.10 The presidency Banks Act. Bombay and Madras into which sums above the specified minimum balances promised to the presidency banks at only their head offices were to be lodged. however.Bank of Madras Note Dated 1861 for Rs. which came into operation on 1 May 1876.85 crores.

In 1951. The State Bank of India was thus born with a new sense of social purpose aided by the 480 offices comprising branches. when the First Five Year Plan was launched. the development of rural India was given the highest priority. to serve the economy in general and the rural sector in particular. An act was accordingly passed in Parliament in May 1955 and the State Bank of India was constituted on 1 July 1955. therefore. The concept of banking as mere repositories of the community's savings and lenders to creditworthy parties was soon to give way to the concept of purposeful banking subserving the growing and diversified financial needs of planned economic development. and integrating with it. the State Bank of India (Subsidiary Banks) Act was passed in 1959. enabling the State Bank of India to take over eight former State-associated banks as its subsidiaries (later named Associates). the All India Rural Credit Survey Committee recommended the creation of a state-partnered and state-sponsored bank by taking over the Imperial Bank of India. Later. The State Bank of India was destined to act as the pacesetter in this respect and lead the Indian banking system into the exciting field of national development. sub offices and three Local Head Offices inherited from the Imperial Bank. 26 . More than a quarter of the resources of the Indian banking system thus passed under the direct control of the State. In order. the former state-owned or state-associate banks. The commercial banks of the country including the Imperial Bank of India had till then confined their operations to the urban sector and were not equipped to respond to the emergent needs of economic regeneration of the rural areas.

meeting customer and market expectations and facing competition. Our achievements are summarized below:* FULL BRANCH COMPUTERISATION (FCBs): All the branches of the Bank are now fully computerized. covering 555 centres. thereby creating a truly national network of ATMs with an unparalleled reach. multilingual screens. voice over and drawal of cash advance by SBI credit card holders have been introduced. 1994 branches. are extending INB service to their customers. A separate Internet Banking Module for Corporate customers has been launched and 27 . payment of fees for college students. INTERNET BANKING (INB): This on-line channel enables customers to access their account information and initiate transactions on a 24x7. This strategy has contributed to improvement in customer service. These ATMs are located in 1521 centres spread across the length and breadth of the country. ATM SERVICES: There are 4633 ATMs on the ATM Network including 3181 ATMs of SBI and 1452 from the 7 Associate Banks and Subsidiaries. Value added services like ATM locator. All functionalities other than Cash and Clearing have been extended to individual retail customers.TECHNOLOGY UPGRADATION HIGHLIGHTS SBI’s Information Technology Programme aims at achieving efficiency in operations. boundary less basis.

This new Trade Finance solution. Bulk upload of data for Corporate. settlement and reconciliation of Govt. the bank’s electronic funds transfer system. EXIMBILLS. Inter-branch funds transfer for Retail customers. GOVT. online payment of Customs duty and Govt. providing efficiency in handling Trade Finance transactions with Internet access to customers and greatly enhances the bank’s services to Corporates and Commercial Network branches. known as SBI connect. WAN: The bank has set up a Wide Area Network. funds. IIT GATE Fee Collection. tax. BUSINESS: Software has been developed and rolled out at 7785 fully computerised branches.available at 1305 branches. Electronic generation of all reports for reporting. E-Poll. the Products offered are eTransfer (ET). STEPS: Under STEPS. This network provides across the board benefits by providing nationwide connectivity for its business applications. which provides connectivity to 4819 branches/offices of SB Group across 306 cities. Trade Finance: The solution has been implemented. eRealisation (eR). Off-line Customer Registration Process and Railway Ticket Booking are the new features deployed. will be implemented at all domestic branches as well as at Foreign offices engaged in trade finance business during the year. STEPS handle payment messages and reconciliation simultaneously. 28 . Electronic Bill Payment. is available. eDebit (CMP) and ATM reconciliation. SMS Alerts.

Since its inception in 1977. * Promoter HDFC is India's premier housing finance company and enjoys an impeccable track record in India as well as in international markets. the Corporation has maintained a consistent and healthy growth in its operations to remain a market leader in mortgages. HDFC has developed significant expertise in retail mortgage loans to different market segments and also has a large corporate client base for its housing related credit facilities. with its registered office in Mumbai. India. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995. a 29 . Its outstanding loan portfolio covers well over a million dwelling units. as part of the RBI's liberalisation of the Indian Banking Industry in 1994. With its experience in the financial markets.PROFILE OF HDFC BANK The Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive an 'in-principle' approval from the Reserve Bank of India (RBI) to set up a bank in the private sector. The bank was incorporated in August 1994 in the name of 'HDFC Bank Limited'.

28.000 shareholders.strong market reputation. Business Focus HDFC Bank's mission is to be a World-Class Indian Bank. The HDFC Group holds 24. Capital Structure The authorized capital of HDFC Bank is Rs.5% of the equity is held by FIIs. NRIs/OCBs while the balance is widely held by about 214..1% of the equity is held by the depository in respect of the bank's issue of American Depository Shares (ADS/ADR Issue).2 billion). Customer Focus. The paid-up capital is Rs.5% of the bank's equity. HDFC Bank's business philosophy is based on four core values: Operational Excellence.450 crore (Rs. large shareholder base and unique consumer franchise. formerly Chase Capital Partners) together hold about 5. The Bank's aim is to build sound customer franchises across distinct businesses so as to be the preferred provider of banking services in the segments that the bank operates in and to achieve healthy growth in profitability.45 billion). The shares are listed on The Stock Exchange. Mauritius (IPEF) and Indocean Financial Holdings Ltd. consistent with the bank's risk appetite. Mumbai and 30 . Roughly 27. Product Leadership and People. HDFC was ideally positioned to promote a bank in environment. The Indian Private Equity Fund.2% of the bank's equity while about 13. Mauritius (IFHL) (both funds advised by J P Morgan Partners.282 crore (Rs. The bank is committed to maintain the highest level of ethical standards professional integrity and regulatory compliance.

the National Stock Exchange. The Bank also has a network of over 1054 networked ATMs across these cities. the Bank has branches in the centres where the NSE/BSE has a strong and active member base. Mr. Distribution Network HDFC Bank is headquartered in Mumbai. All branches are linked on an online real-time basis. 31 . Being a clearing/settlement bank to various leading stock exchanges. HDFC Bank's ATM network can be accessed by all domestic and international Visa/MasterCard. Jagdish Capoor took over as the bank's Chairman in July 2001. The Bank's expansion plans take into account the need to have a presence in all major industrial and commercial centres where its corporate customers are located as well as the need to build a strong retail customer base for both deposits and loan products. Moreover. Customers in 90 locations are also serviced through Phone Banking. Visa Electron/Maestro. Prior to this. Capoor was a Deputy Governor of the Reserve Bank of India. The Bank at present has an enviable network of over 451 branches spread over 205 cities across the country. Management Mr. Plus/Cirrus and American Express Credit/Charge cardholders. The bank's American Depository Shares are listed on the New York Stock Exchange (NYSE) under the symbol "HDB".

The bank has three key business areas:- 32 . Technology HDFC Bank operates in a highly automated environment in terms of information technology and communication systems.The Managing Director. has been a professional banker for over 25 years and before joining HDFC Bank in 1994 was heading Citibank's operations in Malaysia. Business Profile HDFC Bank caters to a wide range of banking services covering commercial and investment banking on the wholesale side and transactional / branch banking on the retail side. while the Retail Banking business by Finware. Multi-branch access is also provided to retail customers through the branch network and Automated Teller Machines (ATMs). Aditya Puri. scaleable and webenabled. The Bank has made substantial efforts and investments in acquiring the best technology available internationally to build the infrastructure for a world-class bank. All the bank's branches have connectivity which enables the bank to offer speedy funds transfer facilities to its customers. The systems are open. both from i-flex Solutions Ltd. the Corporate Banking business is supported by Flexcube. In terms of software. Mr.

and Equities. giving the customer a one-stop window for all his/her banking requirements. b) Retail Banking Services The objective of the Retail Bank is to provide its target market customers a full range of financial products and banking services. blue-chip manufacturing companies in the Indian corporate sector and to a lesser extent.a) Wholesale Banking Services The Bank's target market is primarily large. For these corporate. With the liberalisation of the financial markets in India. advice and product structures. Local Currency Money Market & Debt Securities. the bank has three main product areas . trade services. 33 . transactional services. the Bank provides a wide range of commercial and transactional banking services. Demat Account: The customer can conduct hassle-free transactions on his/her shares. cash management. c) Treasury Operations Within this business. etc. The customer can also access his/her Demat Account on the Internet. corporate need more sophisticated risk management information.Foreign Exchange and Derivatives. emerging mid-sized corporate. including working capital finance.

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Phone Banking: 24-hour automated banking services with 39 Phone Banking numbers available. the customer can also pay his/her utility bills and transfer funds.. 35 . ATM 24-hour banking: Apart from routine transactions. phone or mobile phone. The customer can also view his/her Demat Account through Net Banking. at his/her own convenience. Bill Pay: The customer can pay his/her telephone. Internet. International Debit Card: With an ATM card the customer can shop with all over the country and in over 140 countries with. at anytime. and pay in Rupees.. Inter-city/Inter-branch Banking: The customer can access his/her account from any of the bank’s 451 branches in 205 cities. at any of the bank’s ATMs across the country all year round.Innovative services for your convenience. Net Banking: The customer can access his/her bank account from anywhere in the world. The customer can use SMS technology to conduct his/her banking transactions from his/her cellphone. electricity and mobile phone bills through the bank’s ATMs. The customer can spend in any currency. Mobile Banking: The customer can access his/her account on his/her mobile phone screen at no airtime cost.

214 crore at December 31. inter-branch banking and much more. or Health plus Credit card. ICICI Bank has a network of about 505 branches and extension counters and about 1. International Credit Card: The customer can get an option of Silver.Current Account: The customer can get a personalised cheque book. Mutual Funds: Apart from a wide choice of mutual funds to suit the customer’s needs the customer benefits from expert advice on choosing the right funds based on in-depth market analysis.637 crore in fiscal 2004). monthly account statements.146. accepted worldwide from a world-class bank. 2004 and profit after tax of Rs.850 ATMs. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialized subsidiaries and affiliates in the areas of investment banking. Gold. life and non-life insurance. 2004 (Rs. venture capital and asset management. If the the customer has an outstanding balance on his/her credit card the customer can transfer that balance to this card at a lower interest rate. 1. PROFILE OF ICICI BANK ICICI Bank is India's second-largest bank with total assets of about Rs. 1.391 crore in the nine months ended December 31. ICICI Bank set up its international banking group in fiscal 2002 to cater to the 36 .

China. 37 .* ICICI Bank's equity shares are listed in India on the Stock Exchange. Mumbai and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE). As required by the stock exchanges. United Arab Emirates and Bangladesh. branches in Singapore and Bahrain and representative offices in the United States.cross-border needs of clients and leverage on its domestic banking strengths to offer products internationally. ICICI Bank currently has subsidiaries in the United Kingdom and Canada. ICICI Bank has formulated a Code of Business Conduct and Ethics for its directors and employees.

E-BANKING SERVICES PROVIDED BY VARIOUS BANKS 38 .

from the comfort of his/her house or office. BILL PAYMENT About Bill Payment SBI e-PAY . directly from his/her SBI Account. Auto Pay: The customer can also set up Auto Pay instructions with an upper limit to ensure that his/her bills are paid automatically whenever they are due.A simple and convenient service for receiving and paying the customer’s bills online  No more late payments  No more queues  No more hassles of depositing cheques Online Pay: Using SBI e-PAY the customer can 'see and pay' his/her various bills online. credit card and other bills . thereby providing the customer complete control over these payments.com/ to 'see and pay' their bills. insurance.onlinesbi. The customer can also get an electronic acknowledgment for every bill paid by him/her using e-PAY. The customer can pay telephone. electricity. 39 .INTERNET BANKING SERVICES PROVIDED BY VARIOUS BANKS Internet Banking Services provided by STATE BANK OF INDIA:* 1. 365 days a year! He/she will simply have to logon to http://www. 24 hours a day. The upper limit ensures that only bills within the specified limit are paid automatically.

irctc. • • • 40 .in Register yourself on the site (if first time user) or log on with Username and Password (meant for IRCTC site). The amount of ticket will be displayed for payment.onlinesbi.com and use the 'Add Biller' feature to select the billers they wish to make payments to. ONLINE BOOKING OF RAILWAY TICKETS The customer should follow under noted process for booking of railway tickets.e. the customers will simply have to login to http://www. Alternately. date and class of the journey under option of "Plan My Travel and Book Ticket" Select your train from the list of trains displayed by IRCTC and click on "Book Ticket" Provide passenger details and confirm your address for getting delivery of tickets. Provide the requisite information i. the customers can also fill out the SBI e-PAY Registration Form (SeRF) available at their SBI branch. • • Logon to the site of IRCTC www.The e-PAY service is available in various cities across the country and the customer can now make payments to several billers in his/her region. 2. stations (departure & arrival). complete it and submit it to the branch. To start receiving and paying their bills online.co.

You will be taken to our site online SBI.• Choose payment option "State Bank of India". Log in with Username and Password (meant for online SBI ) and confirm the payment. • 41 .

2. to cater to their insurance needs and that too online. BILL PAYMENT ICICI Bank Internet Banking is the most convenient channel to manage and pay the bills anytime. 42 . The customer’s have to choose their products online and pay conveniently through ICICI Bank Internet Banking Service. ICICI bank now offers its customers. No more hassles of personally visiting the Biller to pay the bills.INTERNET BANKING SERVICES PROVIDED BY ICICI BANK 1. 2. ICICI Bank has tied up with IRCTC (for Railway Ticket Booking) and Air Deccan (for Air Ticket booking). Its free for all the Customers. 3. anywhere. ONLINE SHOPPING* ICICI Bank has tied up with more than 75 organizations to facilitate online shopping for all its Internet Banking Customers. INSURANCE POLICIES OFFERED BY ICICI BANK * Convenience has always been synonymous with ICICI Bank and keeping in line with this. the most comprehensive suite of General Insurance products from ICICI Lombard. TICKET BOOKING Ticket Booking The customer’s can now book their Railways and Air Tickets Online The customer’s can now buy their tickets online and pay using the bank’s Internet Banking Facility.

Change Customer profile The customers can update their mailing address and all their communication from bank will go to this new address.com. 3.4. Funds Transfer The customers cant transfer funds between their accounts. INTERNET BANKING SERVICES PROVIDED BY HDFC BANK NETBANKING FEATURES* 1. 4. ICICI bank also provides the service of online share trading to its customers through www. Credit card Payment Customers can pay their HDFC Bank Credit card dues through this option. Account Balance Inquiry The customer can check his/her savings or current account balance.hdfcbank. 5. 2. ICICI BANK’S ONLINE SHARE TRADING. 43 * reference: www. even if they are in different branches/cities. Statement Download The customers can download their account statement onto their PC for the period of 5 months from the given date.com .icicidirect. The customer can also transfer funds to any person having an HDFC Bank account anytime.

44 .including information regarding Uncleared Funds.e. Account Statement Inquiry The customer can view all the transactions on his/her account for either the current period (i. from date of last statement mailed to him/her). 6. The customer can also request his/her statement via mail (mailing address will be as per bank records). Overdraft Limits and Sweep-In Amounts. Ledger Balances. or a specific period determined by him/her/.

If the customer has one or more accounts with HDFC Bank. Current/Savings account balances 2. Hdfc bank Demat Holdings 9.ONEVIEW OF ONE’S ACCOUNTS IN 6 BANKS One View. Citibank Credit Card transaction history 7. Fixed deposit summary 4. ICICI Bank. Saving/Fixed deposit summary 5. Hdfc bank Demat Profile 8. Citibank. in one place. so that tracking and managing his/her online accounts becomes quicker and easier than ever before. Current/Savings account transaction history 3. Standard Chartered Bank and/or Global Trust Bank then One View is just right for him/her. this convenient service brings together the customer’s online bank accounts (including those of family members). Hdfc bank Demat Status 45 . It gives its customer a complete picture of his/her finances across multiple accounts. Citibank Credit Card 6. in total security. For the first time in India. HSBC India. Best of all. Now. it's absolutely free! Simply register for Internet banking with these banks and use One View to get a single window access to: 1. One View puts it all on one screen for its customer.

So get the convenience of One View now and get into 6 banks.It will provide the comprehensive information the customer needs at one place. PROMISES OF E-BANKING 46 .

2. physical branches were not required and the transaction costs over the Internet were much lower. 47 . 3. In theory. the information intensity kept increasing. Banking transactions could be conducted entirely in a virtual context with no physical exchange necessary. a large portion of the value to the customer is derived only after the goods are physically delivered. Consultants Booz-Allen & Hamilton estimated that whereas the cost of a customer walking into the branch and using a teller is USD 1. as the means of payment substituted gold by paper currency and paper currency by plastic and finally plastic by direct debits. Double-edged Sword Reduced delivery costs and the absence of physical exchange is indicative of why the Internet held so much promise to turn banking upside down. In the case of buying physical goods online.01.PROMISES OF INTERNET BANKING As the potential that the internet held to transform different aspects of our lives manifested itself. the Internet could bring substantial cost advantages for banks. Reduced transaction costs Additionally various studies showed that as a delivery or distribution channel. No physical change Historically. it was forecast that its impact on financial services such as stock-broking and banking would be especially profound. 1.

More than 60 million auctions have been completed to eBay on an average basis set a new record of 1. Perfect Information One of the things that the Internet does extremely well is make perfect information available to all market participants by bringing about efficiencies in the search process. It offers visitors the ability to participate in online auctions hawking everything from a used car to a perfume bottle collection.3. 4. Reduced role for intermediaries One of the most successful companies on the Internet is eBay. For buyers of banking services.782 million. 48 . there are sites that aggregate information on product offerings from different providers at a single location.

COMPARISON OF VARIOUS E-BANKING SERVICES 49 .

ICICI Bank credit card.It provides a simple and convenient service for receiving and paying of bills online Online Pay: By using SBI e-PAY the customers can 'see and pay' their various bills online. electricity. SBI BANK AND HDFC BANK: 1. thereby providing the customers complete control over these payments.COMPARISON OF VARIOUS INTERNET BANKING SERVICES PROVIDED BY ICICI BANK. BILL PAYMENT ICICI BANK ICICI Bank has tied up with more than 60 organizations across the country to facilitate payment of bills for Utility Companies (Electricity and Telephone) Bills. HDFC BANK HDFC Bank provides the luxury of paying its customer’s telephone. SBI BANK SBI e-PAY . 365 days a year! Auto Pay: The customers can also set up AutoPay instructions with an upper limit to ensure that their bills are paid automatically whenever they are due. Mobile Phone and Insurance Premium bills. The customers can pay telephone. insurance.from the comfort of their house or office. electricity and mobile phone bills at their convenience. Through the 50 . The upper limit ensures that only bills within the specified limit are paid automatically. credit card and other bills . 24 hours a day. directly from their SBI Account.

SBI BANK It does not provide online shopping service. it also revolutionises the way the customers spend through a Debit Card. 2. LIC insurance premiums can also be paid through this facility.Internet. ATMs. ONLINE SHOPPING ICICI BANK ICICI Bank has tied up with more than 75 organizations to facilitate online shopping for all its Internet Banking Customers. HDFC BANK HDFC Bank proudly presents the Easy Shop Gold Debit Card. It is better for the residents of Hyderabad or Secunderabad and registered for Hdfc NetBanking service. They can now choose their products online and pay conveniently through ICICI Bank Internet Banking Service. Not only does it replaces the customer’s ATM card. The Easy Shop Gold Debit Card is the first Gold Debit Card in India. your mobile phone and telephone. 51 .

One can now buy your tickets online and pay using ICICI Bank’s Internet Banking Facility. HDFC BANK It does not provide online booking of tickets.com.in and register their on this site and further one has to follow the procedure as given in SBI’s site. 52 . SBI BANK SBI bank also provides online railway booking and for this one has to log on to www.co. ICICI Bank has tied up with IRCTC (for Railway Ticket Booking) and Air Deccan (for Air Ticket booking). ONLINE SHARE TRADING ICICI BANK It offers online share trading service to its customers through ICICI direct. 4.3. TICKET BOOKING ICICI BANK With ICICI Bank one need not visit Train/ Air ticket booking reservation centers any more.irctc.

near railway stations and other places which are conveniently accessible to the customers. airports. HDFC BANK HDFC BANK does not provide ONLINE SHARE TRADING services to its customers but it provides advice on direct equity through research reports based on fundamental and technical parameters across individual stocks / model portfolio / customized client portfolios. major petrol pumps. residential localities. 53 . ATM SERVICE ICICI BANK ICICI Bank's 24 Hour ATM network is one of the largest and most widespread ATM Network in India. ICICI Bank’s ATMs are located in commercial areas.SBI BANK It does not provide ONLINE SHARE TRADING services to its customers. 5.

SBI BANK State Bank offers its customers the convenience of over 5067 ATMs in India. HDFC BANK HDFC bank provides ATM services 24 hours a day. This means that one can transact free of cost at the ATMs of State Bank Group (This includes the ATMs of State Bank of India as well as the Associate Banks – namely. 365 days a year from any of their over 1054 ATM across India. State Bank of Saurashtra. State Bank of Patiala. State Bank of Indore. State Bank of Mysore. State Bank of Hyderabad. 54 .ICICI Bank ATMs features user-friendly graphic screens with easy to follow instructions. State Bank of Bikaner & Jaipur. using the State Bank Cash Plus card. 7 days a week. The bank has introduced ATMs which interact with customers in their local language for increased convenience. and State Bank of Travancore).

When I compared the online internet banking services provided by ICICI BANK and HDFC BANK. SBI provides less online internet banking services. 55 . STATE BANK OF INDIA (SBI) and HDFC BANK. so the public sector banks should also start providing more online internet banking services and should expand these services to most of its branches. I have drawn a conclusion that as compared to ICICI BANK and HDFC BANK. the GENERALISED CONCLUSION drawn by me is that the private banks provide more online internet banking services than the public sector banks. this will enable them to expand their customer base and to face the competition in a better way. I came to the conclusion that these banks provided online internet banking services almost at the same level. Therefore.CONCLUSION: From this comparison of online internet banking services provided by ICICI BANK.

ANALYSIS OF THE DATA COLLECTED 56 .

TABLE-I NO. OF USERS WHO HAVE AVAILED THE ATM FACILITY OF ANY BANK AVAILED THE FACILITY YES NO NO.ANALYSIS OF THE DATA COLLECTED THROUGH THE QUESTIONNAIRE classified the I have analyzed the data collected through the questionnaire and have data into tables.OF USERS 90% 10% ATM Users 10% Yes No 90% 57 .

TABLE-II The users have used the ATM facility of the following banks: NAME OF THE BANK HDFC BANK STATE BANK OF PATIALA ICICI BANK BANK OF PUNJAB STATE BANK OF INDIA NOT USED THE FACILITY OF ATM OF ANY BANK NO. OF USERS IN PERCENTAGE 25 25 10 15 15 10 ATM Users HDFC Bank SBOP 10 15 25 ICICI Bank Bank of Punjab 15 10 25 SBI Not used the facility of ATM 58 .

OF USERS IN PERCENTAGE 20 70 0 0 0 10 Satisfaction Level Highly Satisfied 0 0 0 Satisfied 10 20 Indifferent Dissatisfied 70 Highly Dissatisfied Users not availing the facility 59 .TABLE-III THE SATISFACTION LEVEL EXPERIENCED BY THE ATM USERS LEVEL OF SATISFACTION HIGHLY SATISFIED SATISFIED INDIFFERENT DISSATISFIED HIGHLY DISSATISFIED USERS NOT FACILITY AVAILING THE NO.

TABLE-IV Following number of times in a week the users have used the ATM: NUMBER OF TIMES 1 2 3 5 USERS NOT AVAILING FACILITY OF ATM THE NUMBER OF PERCENTAGE 60 20 5 5 10 USERS IN ATM usage by user per week 1 5 10 2 3 20 60 5 Users not availing the facility 5 60 .

TABLE-V Preference of the users of ATM card of the benefits of ATM: BENEFITS OF ATM It is time-saving It is beneficial when cash is needed Urgently It is convenient NUMBER OF PERCENTAGE 20 60 20 USERS IN Benefits of ATM It is time saving 20 20 Beneficial when cash needed urgently Convenient 60 61 .

of users facing problem 40% Yes No 60% 62 . of users) 60% (No. of users) No.TABLE-VI PROBLEM WHETHER THE USERS OF ATM CARD HAVE FACED ANY WHILE USING THE ATM CARD: YES NO 40% (No.

OF USERS IN PERCENTAGE 25 63 12 P ro b lem faced u sin g AT M C ard got withheld in m achine 12 25 A TM was not working Received no help from em ployees 63 63 .PROBLEMS FACED BY THE USERS: NATURE OF PROBLEM The card got withheld in the machine ATM was not working Instructions to use the ATM were not clear and received no help from employees of the bank NO.

OF USERS IN PERCENTAGE 15 5 5 0 0 5 5 View all transactions on an account for a specified period and get a copy via e-mail None of the above 0 65 64 . Current and FD account Tax deducted at source on one’s FD account for current financial year Giving instructions over the internet for stopping payments on cheques Request for a internet cheque book via the NO.TABLE-VII Other Internet Banking Services availed by the respondents: NATURE OF SERVICE Credit card Transferring one’s money from one city to any other branch in a city Opening Fixed Deposit account via The Internet Inquire about the balance in one’s saving.

current & FD A/c TDS on one's FD A/c for current financial year Givin instr. Over internet for stopping cheque payments Request for Cheque Book via Internet View all transactions on an A/c for a specified period & get copy via e-mail None of the above 65 65 .Other Internet Banking Services used by users Credit Card Transferring one’s money from one city to any other branch in a city 15 Opening FD A/c via Internet 5 5 0 50 Inquire about balance in one's saving.

OF USERS) G r ie v a n c e a g a in s t t h e b a n k p r o v id in g In te r n e t B a n k in g S e r v ic e s 5% Yes No 95% 66 .TABLE-VIII providing Whether the respondents ever had any grievance against the bank Internet Banking Services to it: YES NO 5% (NO. OF USERS) 95% (NO.

OF USERS IN PERCENTAGE 75 25 R e sp o d e n t's V ie w o f w h e th e r P S B 's sh o u ld sta rt p ro vid in g IB S 25 Y es No 75 67 .TABLE-IX should start market: Opinion of the respondent’s on whether all public sector banks providing Internet Banking Services to survive in the ANSWER OF THE RESPONDENTS YES NO NO.

OF USERS IN PERCENTAGE 20 50 20 10 R e s p o d e n t's r e a s o n s fo r s a y i n g y e s i n th e a b o v e t a b l e 10 20 20 In t e rn e t B a n k in g is T im e S a vin g T o fa c e t h e c o m p e t it io n 50 68 .RESPONDENT’S REASON FOR SAYING YES IN THE ABOVE TABLE: RESPONDENT’S REASONS Internet Banking is time-saving To face the competition Internet Banking is convenient and hassle-free Customer preference and increasing number of people using the internet NO.

9. 95% of the respondents didn’t have any grievance against the bank providing them the internet services and the 5% respondents which had a grievance against bank providing them the internet banking services were satisfied with the grievance handling procedure of the bank. 7. 69 . Most of the respondents used ATM facility (90% of them availed this facility. 4. Respondents were using the ATM facility of private banks more than the public sector banks.FINDINGS EXTRACTED OUT OF THE INFORMATION COLLECTED THROUGH A QUESTIONNAIRE 1. 8 Most of the respondents used very less Internet Banking facilities other than the ATM.) 2. Most of the respondents were satisfied by the ATM facility being used by them. Out of the other facilities. credit card was the most commonly used service and the second service used was opening a Fixed Deposit account via the internet. 60% of the respondents faced using the ATM faced no problem in comes handy using the ATM while 40% of the respondents faced a problem while using the ATM. 6. 3. Major problem faced by the respondents while availing ATM card facility was that the ATM was not working and the second common problem was that the card got withheld in the machine. Most of the respondents used ATM facility once in a week. Most of the respondents feel that the benefit of the ATM card is that it when cash is needed urgently. 5.

Most of the respondents felt that the weakness of internet banking is that it is a one way communication and the second most commonly held weakness was that it is not secure.10. Most of the respondents felt that the public sector banks should start providing the Internet Banking services in order to face the competition from the private banks and also because Internet Banking is time-saving and hassle-free. 55% of the respondents felt that Internet Banking is not secure and the reason behind this is that hackers may hack the password of one’s account and this may result in huge losses to the user of Internet Banking. 70 . 11. 12.

by virtue of the value of information. payment sites like PayPal etc. Attackers are formulating newer strategies for attack and one such attack is Phishing. But since Web is a public space open to all.* Phishing is based on impersonating. which has been one of the most popular types of trickery used by people and the instances of which are available in plenty. Billing payments. The use of ‘Ph’ in the word instead of ‘f’ has come from the word “Phreaks” who were involved in “Phreaking” which was a type of attack on telephone system in 1970’s. Phishing can be considered as an e-avatar of tricking by impersonating.2600” in January 1996. funds transfer between accounts . Now.SUMMARY AND CONCLUSION E-commerce is rapidly expanding its wings across the globe and India is no exception to this phenomenon. 71 . etc to their customers at the click of a button. Later in the 1990’s the term was used for the hackers who used these techniques for stealing passwords and user-id’s for ISP’s. several banks have put their electronic banking facilities on the Internet and are providing many facilities like adopting ECS and EDI for knowing account-status . Financial institutions like banks and merchant websites like Rediff. Web-shopping. THESE INTENET BASED SERVICES ALSO RAISE NEW THREATS FOR THE BANKS. It is believed that the term became popular after its use in the famous hacker newletter “alt. even in our mythology. Railway and air-ticket booking. their customers share with them are becoming the most lucrative target for the attackers. Like all identity based attacks . Amazon.

THREATS TO THE BANKS DUE TO PHISHING The first and foremost threat is loss of customer faith in technology. from the users .78 million are thought to have succumbed to the convincing attacks . According to recent studies by Gartner . and about 11million US adult Internet users have clicked in the link in a Phishing email and out of these around 1. the banks will not be able to leverage the benefits from huge investments they have made for adopting technology. Most common Phishing attacks are HTML based and are use e-mail as the medium to propagate.” It is also called carding or brand spoofing. which made them divulge their personal information. Such attacks could make customers shun e-banking and reverts towards tradition brick and mortar banking.PINs etc. This threat thus spans the whole industry rather than any particular bank. So. Such attacks are easy to perpetrate and enjoy a good success rate. for various nefarious activities. Many a times banks have compensation policies for such cases where customer credit cards are used fraudulently using any of the 72 .Phishing also takes the help of impersonating and social engineering to divulge confidential information like account details. 57milllion US Internet users have identified the receipt of e-mail as linked to Phishing scams .passwords. Phishing is “The act of sending e-mail to a user falsely claiming to be an established legitimate enterprise in an attempt to scam the user into surrendering private information that will be used for identity theft.

The ultimate threat is loss of business. There can be significant wastage of productive resources in handling such attacks and their consequences in the form of lawsuits etc. profitability and loss of customers. • Digitally signing e-mails. The bank may face lawsuits filed by customers under various legislatures like Privacy under IT Act 2000. PREVENTING BEING PHISHED In order to device methods and doing research in the identity frauds a cross-industry organization called “Anti-Phishing Working Group” (APWG) has been formed recently. If such attacks increase beyond a proportion the banks will lose control over the provisioning done for compensatory expenses. • Strong website client authentication. STEPS TO BE TAKEN BY BANKS 73 . • Mail server authentication. profits. Another very important threat to banks is Reputation Threat.techniques. This is a threat which no bank can afford in today’s competitive scenario.

Banks need to educate their customers as well as customer facing employees about Phishing. Information can be given on the website of the bank regarding handling e-mails that appear to come from legitimate sources. • PROTECTING PRIVACY The banks should ensure that customer contact information like e-mail addresses should never fall in wrong hands since this betrays the customer trust and is against the basic protocols of banking. 74 .• EDUCATION AND AWARENESS The banks need to generate awareness among its employees and customers about the attack. • LOGIN REPORTS On logging in his account on the website the customer should be provided his last three login times/dates including the exact duration. Also the bank may send monthly login information to the customers. • MONITORING Banks can develop some intelligent fraud detection tools to trace fraudulent behaviors by noticing the activities done by an attacker once he gets access to other’s personal information. This can be integrated with the existing fraud detection and money laundering systems. countermeasures etc. types of attacks.

The bank can then immediately freeze that account and try to catch the fraudster. So. in such a case. The customer should be educated to immediately inform the bank. So. These response actions should be well understood and documented. By taking the above measures Internet Banking will become more secure and will help the banks to become more competitive and profitable. so as to minimize the losses. 75 . Although Public sector banks are also providing Internet Banking Services but the number of their branches facilitating such services are less as compared to private banks. the Public sector banks should concentrate more on providing Internet Banking services. Internet Banking is the need of the hour and private banks are already providing efficient Internet Banking Services to their customers.• FRAUD RESPONSE Banks should formulate strategies for responding to such frauds when they occur.

Do you avail the ATM facility of any bank : Yes ( If yes. then proceed to Q:5 otherwise move to Q:10) 5. Name: 2.QUESTIONNAIRE CONSUMER PERCEPTION ABOUT E-BANKING 1. Age : 3. What is the satisfaction level experienced by you with the ATM facility being used by you ? Highly Satisfied Satisfied Indifferent Dissatisfied Highly Dissatisfied 76 .Occupation: : ______________________________________________________ 4. You are using the ATM facility of which bank ? No 6.

7. Rank in order of preference the benefits of ATM card in your opinion : It is time-saving It is beneficial when cash is needed urgently It is convenient 9. Have you ever faced any problem while using your ATM card Yes No If yes . Which of the following Internet Banking Services are you availing? Credit card Tranferring one’s money from one city to any other branch in a city Open Fixed Deposit (FD) account via the internet 77 . you faced a problem while understanding the instructions and there was no employee of to help you the bank 10. How many times in a week do you use your ATM card? 8. the select any of the following problems which you have faced The card got withheld in the machine ATM was not working While using it for the first time .

Did you ever had any grievances against the bank providing you Internet Banking service regarding the Internet Banking service provided by it? Yes No ( If yes then answer the next question .Inquire about balance in one’s saving . What was the level of satisfaction experienced by you of the grievance handling procedure of the Bank? Highly Satisfied Satisfied Indifferent Dissatisfied 78 . current and FD account and also the tax Deducted at source on one’s FD account for the current and financial year Giving instructions over the internet for stopping payment on cheques Request for a cheque book via the internet View all transactions on an account for a specified period and get a copy via e-mail None of the above 11. If no then move on to Q:13) 12.

Do you think Internet Banking is secure? Yes Give a reason for your anwer No 15. What is in your opinion the weakness of Internet Banking? There is only one way communication The security is not flawless Lack of first-hand experience gained by a person visiting a bank is not there 14. Do you think that all public sector banks in India should start providing Internet Banking Services to Survive in the market? Yes If Yes.Highly Dissatisfied 13. why? No 79 .

The Small Business Guide to Internet Banking by – Ray Hurst 7. Management Trends (A Journal of Department of Business Management) Article. International Journal of Business Performance Management 2002 (Published by InderScience publishers) 6. Indian Banking 2005. Tools and Best Practices – by Mona Brewer (Published by Sheshunoff and Co. 2003 2. Internet Banking-The Second Wave: By Sanjeev Singhal. the ICFAI University Press Publication 4. Tata McGraw Hill Publication.BIBLIOGRAPHY Library Sources 1. The Journal of Internet Banking and Commerce (Published by Array Development of Ottawa) 5. Internet Banking Shopping for the Older Generation by ---. Internet Banking: Strategies.Greg Chapman 8.) 80 .Internet Banking by Kavita Kshatriya Sep 2004 3.

com 81 . Douglas Ross.Successful Web Portals in Retail Banking by--.com www.com www.firstib.10. Cronin (Published by John Wiley and Sons) 11.hdfcbank.nationalcity.com www.com www.icicibank. Albert Avery (Published by --.netbanker.Banking and Finance on the Internet (Internet Management Series ) by Mary J.sbi.com www.Daniel Singer.Wiley) Internet Sources www.

82 .