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The evolution of State Bank of India can be traced back to the first decade of the 19th century. It began with the establishment of the Bank of Calcutta in Calcutta, on 2 June 1806. The bank was redesigned as the Bank of Bengal, three years later, on 2 January 1809. It was the first ever jointstock bank of the British India, established under the sponsorship of the Government of Bengal. Subsequently, the Bank of Bombay (established on 15 April 1840) and the Bank of Madras (established on 1 July 1843) followed the Bank of Bengal. These three banks dominated the modern banking scenario in India, until when they were amalgamated to form the Imperial Bank of India, on 27 January 1921. An important turning point in the history of State Bank of India is the launch of the first Five Year Plan of independent India, in 1951. The Plan aimed at serving the Indian economy in general and the rural sector of the country, in particular. Until the Plan, the commercial banks of the country, including the Imperial Bank of India, confined their services to the urban sector. Moreover, they were not equipped to respond to the growing needs of the economic revival taking shape in the rural areas of the country. Therefore, in order to serve the economy as a whole and rural sector in particular, the All India Rural Credit Survey Committee recommended the formation of a state-partnered and state-sponsored bank. The All India Rural Credit Survey Committee proposed the take over of the Imperial Bank of India, and integrating with it, the former state-owned or state-associate banks. Subsequently, an Act was passed in the Parliament of India in May 1955. As a result, the State Bank of India (SBI) was established on 1 July 1955. This resulted in making the State Bank of India more powerful, because as much as a quarter of the resources of the Indian banking system were controlled directly by the State. Later on, the State Bank of India (Subsidiary Banks) Act was passed in 1959. The Act enabled the State Bank of India to make the eight former State-associated banks as its subsidiaries.
The State Bank of India emerged as a pacesetter, with its operations carried out by the 480 offices comprising branches, sub offices and three Local Head Offices, inherited from the Imperial Bank. Instead of serving as mere repositories of the community's savings and lending to creditworthy parties, the State Bank of India catered to the needs of the customers, by banking purposefully. The bank served the heterogeneous financial needs of the planned economic development. Branches The corporate center of SBI is located in Mumbai. In order to cater to different functions, there are several other establishments in and outside Mumbai, apart from the corporate center. The bank boasts of having as many as 14 local head offices and 57 Zonal Offices, located at major cities throughout India. It is recorded that SBI has about 10000 branches, well networked to cater to its customers throughout India. Subsidiaries The State Bank Group includes a network of eight banking subsidiaries and several non-banking subsidiaries. Through the establishments, it offers various services including merchant banking services, fund management, factoring services, primary dealership in government securities, credit cards and insurance.
The eight banking subsidiaries are:
State Bank of Bikaner and Jaipur (SBBJ) State Bank of Hyderabad (SBH) State Bank of India (SBI) State Bank of Indore (SBIR) State Bank of Mysore (SBM) State Bank of Patiala (SBP) State Bank of Saurashtra (SBS) State Bank of Travancore (SBT)
As the study contains the 360 degree information regarding SBI and its internet banking. TO build up SWOC analysis of internet banking of SBI… To bulid up various solution for drawback in internet banking. Internet banking system means that client cans now do banking at the leisure of their homes. to bank as well as customer. Future scope The study of this topic will help to get the knowledge about process of internet banking and usefulness to banking industry. Also known as online banking. What is internet banking? Internet banking system is a that has developed in order to help client with the daily to daily transactions. Online banking or internet banking allows customer to conduct financial transactions on a secure on secure website operated by the retail or virtual bank……… . Hence the study will lead to new ways to tackle the problems and the SWOC of SBI in respect of internet banking.OBJECTIVES The main objectives of the study To understand the concept of internet banking and important. This was all about how the project will go ahead and the findings from it. the system allows both transaction and non transaction features.. To get aware of various aspect of net banking.
they typically differentiate themselves by offering better interest rates and online banking features. Typical recipients were gas. keyboard and TV (or monitor) to access the bankingsystem using a phone line. Instead. The system (known as' Home link') allowed on-line viewing of statements. Today.Stanford Federal Credit Union was the first financial institutionto offer online internet banking services to all of its member’s in Oct. a written instruction giving details of the intended recipient had to be sent to the NBS who set the details up on the Home link system. 1994. electricity and telephone companies and accounts with other banks.History of internet banking The term online banking was first started in 80’s. these internet only banks do not maintain brick and mortar bank branches.The system used was based on the UK's Prestel system and used a computer . where the Prestel system was used The UK’s first home online banking services was set up by the Nottingham Building Society(NBS) in 1983 . many banks are internet only banks. The termonline became popular in the late '80s and referred to the use of aterminal.Chemical and Manufacturers Hanover)offered home banking services using the videotext system. Details of payments to be made were input into the NBS system by the account holder via Prestel. A cheque was then sent by NBS to the payee and an advice giving details of the payment was sent to the account holder. Unlike their predecessors. or keyboard (Tan data Td1400) connected to the telephone system and television set. Because of the commercial failure of videotex these banking services never became popular except in France where the use of videotext (Minitel) was subsidized by the telecom provider and the UK. bank transfers and bill payments. ‘Home banking’ can also refer to theuse of a numeric keypad to send tones down a phone line withinstructions to the bank. . BACS was later used to transfer the payment directly .Chase Manhattan. such as the BBC Micro. Online services started in New York in1981 when four of the city’s major banks(Citibank . In order to make bank transfers and bill payments.
2002. More Interfaces developed with e-Commerce & other sites through alternate channels like ATM & Online Banking. there the initiative of core banking took place. Later on core banking proposed by the IT consultancy company. 2008. All Foreign Offices were brought on Centralized Solution. •Traditional procedures were evolved over decades •Very few changes were brought in those procedures as per the need of time In the time . Internet banking facility for corporate customers was also launched in early 2008. •These manual procedures were inherited from the Imperial Bank. All SBI branches were connected and ATM’s were launch .Working of internet banking in state bank of India Where SBI was? •In early 1990’s more than 7000 branches were using traditional manual procedures. 2001 – KMPG appointed consultant for preparing IT plan for the bank .all branches computerized but on decentralized system. mainframe or mini computers were used for MIS. RECONCILLATION & FUND SETTLEMENT PROCESS. or we can say that for backhand operations purpose Changes brought in information technology by SBI In the next decade internet facility was provide for individuals.More than 6500 branches (95%of business) on core banking solution (CBS). Large network is playing the role of backbone for connectivity across the country. .
CBS . Multiple Technologies to support the networking infrastructure – Leased lines.Core Banking System Components . Multiple Service Providers are providing the links – BSNL. Tata & reliance which are making the system errorless and provide high speed. Dial-up. MTNL. Reliance. CDMA & VSAT.
State Bank of India (SBI) offers a wide range of banking products and services to corporate and retail customers.Services provided by SBI internet banking Online SBI (www.000 branches across India. RETAIL BANKING:The Retail banking application is an integration of several functional areas. and enables customers to: ax for online tax payment . OnlineSBI is the Internet banking portal for State Bank of India. The portal provides anywhere.com) State Bank of India is India’s largest bank with a branch network of over 11000 branches and 6 associate banks located even in the remotest parts of India. The application is developed using the latest cutting edge technology and tools.onlinesbhi. online access to accounts for State Bank’s Retail and Corporate customers. The infrastructure supports unified. secure access to banking services for accounts in over 11. anytime.
Transaction Maker. The corporate module provides roles such as Regulator. Admin. own accounts.Electronic Vendor Finance Scheme) . Authorizer. third party payments. and Auditor. These roles have access to the following functions: on corporate accounts. Uploaded.CORPORATE BANKING:The OnlineSBI corporate banking application provides features to administer and manage corporate accounts online. and draft issues balance Value added services: -VFS. -onmechanism authorities.
s. Debit facility where suppliers can directly debit their customer’s account through internet banking. Internet banking transaction for SBI and associate banks. Internet bank transaction for incoming RTGS/NEFT transaction. Products and services E-ticketing SBI E-tax Bill payment RTGS/NEFT E-payment Fund transfer Third party transfer Demand draft Cheque book request Account opening request Account statement Transaction enquiry Demat account statement Donation .
The payment request will be redirected to Internet Banking site. refund amount will be credited to your account directly within 2-3 days. the details of photo identity card will required to be filled in)And select State Bank of India in the payment options. Submit your travel plan and book the ticket(s)-either •i-ticket (where the delivery of tickets will be made at your address) or •E-tickets (wherein after successful payment transactions. log on to the KSRTC website. You are provided a KSRTC reference number for your e-Ticket. Logon to Indian Airlines website to make a payment for an e-ticket through State Bank of India. date of journey and number of tickets. Service charges @ Rs. Select OnlineSBI to make the payment. You can print the E-ticket immediately. Railways will generate the ticket. just log on to irctc. you need to select SBI as the payment option. To book bus tickets to destinations in Karnataka. The request may be processed based on values sent from the airlines website.in and create an ID there at if you do not have one.co.10/.1) E-TICKETING :You can book your railway. an appropriate response will be sent to airlines site to update the status of the transaction.onlinesbi. After a successful debit. Provide your credentials and select the SBI account that will be debited for the payment. To book your train ticket.After submitting the respective ID and password. air and bus tickets online through OnlineSBI.per transaction shall be levied in addition to the cost of the ticket. Cancellation of E-ticket can be done by logging on to IRCTC's site. Verify availability of seats on the selected date and confirm the transaction.For an e-ticket.com). 2) SBI E-TAX:- . You can also book your Air ticket through the e-ticketing feature. the amount shall be credited back to your account. you shall be required to submit your ticket at a computerized counter of Railways and on cancellation. For cancellation of i-ticket. Once a transaction is processed. you can select your account. You will be redirected to Internet Banking site of SBI (www. Provide details about the start and end points of your journey. E-ticket can be printed by you whereas the i-ticketwill be dispatched by IRCTC at the given address. an e-ticket is generated which can be printed any time .
Click the Direct Tax link. anywhere paymentand an instant E-Receipt is generated once the transaction is complete. Any transactions created after the cut off time will be processed after 7 A. you will be redirected tothe Internet Banking site. After submitting the respective ID and password. This facility is available as a post login feature in the retail and corporate banking sites of the Online SBI portal. After payment is successful you can print the EReceipt for the payment. on the following day.You can pay your taxes online through SBI E-Tax. If a payment is successful.M. On selecting the bank name as SBI and submitting the form. nature of payment and bank name. The Indirect Tax payment facility is available to Registered Central Excise/Service Tax Assesse who possesses the 15 digit PAN based Assessee Code. name and address. Select an account for debiting the total tax amount. Estate Duty and Fringe Benefits tax. Wealth tax. Indirect tax. which are not Internet-enabled. You will be redirected to the NSDLsite where you can select an online challan based on the tax youwish to pay. This facilityenables you to pay TDS. For government agencies. Click the e-Tax link in the home page. You can make CBEC payments using the Indirect Taxes link available in the Payments/Transfers tab. Select the appropriate tax type and enter the tax amount.M. IST. assessmentyear. you can select your account for making payment of taxes. You need to provide your assessee codeas registered with CBEC and select the minor heads towards which you intend to pay tax. 3) Bill Payment:- . Corporation tax. Income tax. Please note that the cut-off time for OLTAS and CBEC payment is 8 P. The E-receipt can be printed at a later date alsoand the same can be retrieved from: Enquiries > Find Transactions > Status Enquiries > Click on the respective transaction to print the tax receipt. You are displayed a page with twolinks Direct Tax and Indirect Tax. CBEC provides a link to generate an E-Receipt for the payment.The Indirect Tax link is used to make Central Excise and Service Tax payments to Central Board of Excise and Customs. The online payment feature facilitates anytime. You can use any of your transaction accounts to make the payment. Internet banking customers can pay tax through site to site integration. Provide the PAN. OnlineSBI offers the Government Tax Payment facility.
onlinesbi. • No more late payments • No more queues • No more hassles of depositing cheques Using the bill payment you can 'view and Pay various bills online. You can transfer an amount of Rs. You can also setup Auto pay instruction with an upper limit to ensure that your bills are paid automatically wherever they are due.1lac and above using RTGS system. 365 days a year. You can pay telephone. You can also schedule a transaction for a future date. directly from your SBI account. Simply log on to http:/www. you can make payment online. Once the bill is uploaded by the biller.you can see how do it to learn the steps for using the facility . electricity. credit cards and other bills from the comfort of your house or office. 4 RTGS/NEFT You can transfer money from your state bank account to account in other bank using the RTGS/NEFT service. The e-pay service is available in various cities across the country and you can now make payment to several billers in your region. This system is the fastest possible interbank money transfer facility available through secure banking channels in India. The RTGS system facilitates transfer of funds from accounts in one bank to another on a "real time" and on "gross settlement" basis. with all the bill detail. . there by providing you complete control over these payments.com with your credentials and register the biller to which you want to pay. The upper limit ensure that only bills within the specified limit are paid automatically. RTGS transaction requests will be sent to RBI immediately during working hours post working hours requests are registered and sent to RBI on next working day.A simple and convenient service for viewing and paying your bills online.. 24 hours a day. insurance.
licindia. 13:00.3 settlements on Saturdays .com and register your policy details.at 09:00. Logon to www. 11:00 and 12:00 hrs Please note that all the above timings are based on indian standard time (IST) only In order to transfer the fund to an account with other bank kindly ensure that the bank branch of the beneficiary is covered under the RGTS/NEFT payment system.National Electronic Funds Transfer (NEFT) facilitates transfer of funds to the credit account with the other participating bank. 5 E-payment:you can pay your insurance premium mobile phone bills and also you can purchase mutual fund units by coming from the biller’s website and selecting state bank of india in the payment option.sbimf. When the premium is due select State Bank of India in the make payment option. 11:00. .com And select the scheme in which you want to make investment in the payment option select State Bank of India. 15:00 and 17:00 hrs. It is recommended that you choose the bank/branch from the drop down option provided under the link ‘’add interbank beneficiary’’ Please exercise care to provide the correct account number and name of the beneficiary. NEFT transactions are settled in batches based on the following Timings 1. LIC PREMIUM: for paying premium of lic policy logon to www. RBI acts as the service provider and transfers the credit to the other bank's account. 2. 2. 6 settlements on weekdays . 12:00.at 09:00. SBI Mutual FUND: You can invest in the SBI Mutual Fund schemes online.
fund transfer to ppf account is restricted to the same branch.CCA VENUES: Enjoy shopping at the CCA venue Shopping Mall and purchase from a wide variety of products and services through CCA venue Certified Vendors. You can see all your online debit and credit accounts. A reference number will be generated for your record. You can do any number of Transactions in a day for amount aggregating Rs. Make payments for your purchases using your Internet enabled SBI accounts. Transfer is instant. On confirming the transaction. 7 THIRD PARTY TRANSFER:- You can transfer funds to your trusted third parties by adding them as third party accounts.1lakh. you should be an active internet banking user with transction rights. To make a fund transfer.. 6) Fund Transfer :The Funds Transfer facility enables you to transfer funds within your accounts in the same branch or other branches. You can transfer aggregating rs 1 lakh per day to own account in the same branch and other branches. The beneficiary account should be any branch SBI. you need to register your mobile . select the debit account from which you wish to transfer fund and the credit account in to which the amount is to b credited. Just log on the retail section of the internet bnking site with your credentials and select the fund transfer link under payment/transfer tab. Enter the amount and remarks. You will be displayed the last five funds transfer operation on your account. you need to add and approve a third party.To transfer funds to third party having account in SBI. The remarks will be displayed in your accounts statement for this transaction. you will be display a confirmation page with the detail of the transaction and the optin to submit or cncel the funds transfer request.
cheque book can be requested for any of your saving.number in personal details link under profile section. you may eaquest the branch to courier it to your registered address. . You can view all your transaction accounts. You can set limits for third party transactions made from your accounts or even set limits for individual third parties. cash credit and over draft account. and the courier change will be recovered from you. 8) Demand Draft :The Internet Banking application enables you to register demand drafts requests online. Select the account for which you require a cheque book. You can option for cheque book with 25. A printed at your branch. You can either collect it form branch or request your branch to send it by post or courier. Only after approval of third party. Cash Credit or Overdraft). Alternatively. quoting a reference to the transaction. kindly approach your branch. quoting the reference number generated for the request. submit the same. third party approval will be handled by your branch. quoting a reference to the transaction.50 or 100 cheque leaves. Cheque books will be dispatched within 3 working days from the date of request. 9 cheques book request :You can request for a cheque book online. Current Account. You can get a demand draft from any of your Accounts (Savings Bank. Just log on to retail section of the Internet Banking site with your credentials and select the Cheque Book link under Requests tab. enter the number of cheque leaves required and the mode of delivery. You can option to collect the draft in person at your branch. You can option to get the cheque book delivered at your registered address or you can provide an alternate address. you will be able to transfer funds to the third party. current. You can set limits for demand drafts issued from your accounts or use the bank specified limit for demand drafts. If you do not have a mobile number. A printed advice can also be obtained from the site for your record. If you have any queries. Then. You will receive a One Time SMS password on your mobile phone to approve a third party.
Current. printed or downloaded as an Excelor PDF file. submit the transaction. Just log on to retail section of the Internet Banking site with your credentials and select the New Account link under Requests tab. You can select any of your accounts for debiting the initial amount. You can view and verify transaction details and the current status of transactions. The options are 25. Select the account and account type you wish to open and submit the same. Then. You also have the option to select the number of records displayed in each page of the statement. Your VISA transactions can also be viewed separately. You should have an INB-enabled account with transaction right in the branch. You can see all types of accounts. closing and accumulated balance in the account. You can generate the online account statement for any date range or for any month and year. 50. 12) Transaction Enquiry:Online SBI provides features to enquire status of online transactions. Funds in an existing account are used to open the new account. Just log on to retail section of the Internet Banking site with your credentials and select the Status Enquiry link under the Enquiries tab. You will be displayed all online .10) Account Opening Request:Online SBI enables you to open a new account online. The statement includes the transaction details. Term Deposit and Recurring Deposit accounts of Residents. The account statement can be viewed online. NRO and NRE types. 11) Account Statement:The Internet Banking application can generate an online. you need to select the branch and enter the initial amount to open the account. 100 and ALL. You can apply for a new account only in branches where you already have accounts. opening. Your new account opening request will be processed by the branch. You can open Savings. Then. downloadable account statement for any of your accounts for any date range and for any account mapped to your username. 75.
statement of billing. The bank acts as your depository participant. Ability to understand its customers needs Customers are given access to information easily acrocss any location. narration and transaction status. You can view Demat account details. After selecting the debit account select the religious/charitable institution that you want to offer donation. transaction amount.onlinesbi. . SWOC analysis of SBI’s internet banking Strengths: Greater reach to customers Quicker time to market Ability to introduce new products and services quickly and successfully. To view details of individual transactions. you need to click the Transaction Reference number link. In the third party site. you can mark a lien on your Demat accounts and use the funds to trade on stock using funds in your SBI savings account.com/ with your credentials and go to Payment and transfer and click on make donation link. After successful payment you can print an E-receipt for the donation made. Simply log on to http://www. statement of transactions.transactions you have performed. You are displayed the debit and credit account details. and generate the following statements: statement of holding. 13) Demat Account Statement:OnlineSBI enables you to view Demat account statement and maintain such accounts. 14) Donation:You can make donation to religious and charitable institution by using Internet Banking of SBI.
Greater customer loyalty. Easy online application for all accounts including personal loans and mortgage. Procedure for applying for id and password using services related to internet banking takes time. Opportunities: Approximately 95% of customers are not using internet banking. Multiple vendor support is necessary for working of highly complex technology Maintaining secured IT infrastructure for business operation. Obsolesce of technology take place very soon specially in terms of security on internet. Employees need training to obtain knowledge regarding I-banking. . Lack of knowledge is found regarding internet banking in employees of SBI. Weaknesses: Lack of awareness among the existing customers regarding internet banking. Quality customer service with personal attention. Can become 1 st virtual bank of India. Challenges: Maintaining business edge over competitors in the context of sameness in IT infrastructure. Concentration of various services should be made using internet banking. Core competency can be achieved in terms of banking if focus is made on awareness of internet banking. Implementation of newer technology is little bit complicated. 24 hours account access.
. cyber security department. Exchange of information on threats and vulnerabilities at appropriate forms:- There should be an open end discussion on the threats and vulnerabilities coming across the functioning of internet banking work by the employees in the various official forums and meets. this will lead to ease in work for employees. • Bank should create and sustain customer. SBI should impose such standards when it comes to internet banking or virtual banking. this willenhance the goodwill of SBI among regulator. building IT structure on internet. SBI should anticipate such kind of changes and get loaded with various plans and actions. Build an optimal operating model by understanding which activities to retain collaborate and outsource:There should be clear sight of operation which needs to outsource to other companies. After such programmes they can create awareness amongst the consumers. customers and invertors. Recommendation and suggestion: Training and awareness among employees:It is recommended that state bank od india should conduct various training programmes for the employees. so that they will get aware with the term of internet banking. investor and regulator confidence by adopting international accounting standards:Adopting international standards adds some more star to the glory of any company. • Bank should anticipate and get prepared for regulatory changes:Laws regarding IT or cyber laws get change as per the need. Outsourcing operation like. Alternative must be there in case of failure of system.
If such a system was not trusted and not reliable. easy online applications etc. After studying the SWOC analysis. Bank should identify such points and concentrate to flourishthem more. Bank is into the mobile banking but it is providing limited features. then SBI would face serious laws and would lose business. we came to know various strengths of SBI such as quality customer service. however a system of such a type will need to be very secure. greater reach. 24 hours access. Feedback can be obtained easily as internet is virtual in nature. • More stress should be given on security concern on internet:There are some people who are into unethical practices of hacking of accounts of customers. Bank should know that No system is perfect. as internet banking of SBI is getting largely accepted by customers. This can be done with the help of internet banking. Personal attention can be given by bank to customer also quality service can be served. Conclusion:Studying the project we came to know that Internet banking is clearly the way forward for the State Bank of India.• Focus on identifying core competence:SBI possess some unique characteristics or positive points in it and with the help of them it can become a leader in market. In terms of weakness I come to know some of the major weaknesses they are lack of awareness of . SBI should put efforts to multiply the number of strengths. Customer loyalty can be gain. customer loyalty. There should be some measures in order to prevent such practices. easy access to information. • Increasing usage of mobile phones is going to revolutionize the banking culture in near future:Mobile banking is also getting popular in the segment of internet banking thus this can add some more steps to progress for SBI. This is a system which holds account details and customers wealth. Internet banking saves time of bank as well as those of customers. IT structure should be unbreakable. Study states that internet banking provides greater reach to customers. This is nothing but the breach in the security of the SBI on internet. It provides comfort to customers at the same time it provides cost cutting to SBI by eliminating physical documentation.
maintaining secured IT infrastructure. In the last segment I come to know about various challenges which are in front of SBI. lack of knowledge among the employees of SBI. In the third segment of SWOC analysis of internet banking we dealt with opportunities like 95 % market of internet market is untapped. SBI’s path to become first virtual bank. if adopted will improve the position of the company substantially and optimal profitability coupled with better service bad satisfactions for investor may be achieved. obsolesce of technology related to security. need of various vendor supports for complex technology. . SBI should concentrate on the weaknesses and reduce them to zero.internet banking among the customers. By encashing such opportunities bank can become the leader in banking sector of India. The company can take the advantage of the reputation it has created in the market for itself and become more competitive the recommendations and suggestions given. alternative mechanism in case of failure of present security system. like sameness in IT infrastructure within various banks. complicated procedures of availing internet banking facilities.
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