Final e Banking (1)

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Why to stand in line, when you can operate

online

RESEARCH PROJECT

A Study On

E-BANKING IN INDIA

Submitted By

DEEPTI MADHURI GUMMUDU

JAPPREET KAUR

SHASHANK KUMAR P C

VIKAS SANGWAN

VINAY KUMAR JHAWAR

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PREFACE

The quotation written at the top of the page is a reality today, E banking had helped

very much to ease the banking services, E Banking is one of the reason for the

excellent services given by the banks results in customer satisfaction which is very

important

So the project aims to study the emergence of E Banking in India ,it includes thestudy of 150 people ,their views about the E-banking, this project helps the banks

to find out the future prospects of the E Banking and the reasons that why the

people are hesitating to use the E Banking the E Banking services. As the customer

satisfaction is the main focus of each and every company specially in the service

sector ,so the E Banking services by the bank act as a fuel to provide the customer

satisfaction and to catapult their respective positions in the cut throat competitive

banking sector.

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TABLE OF CONTENTS

CHAPTE

R NO

TOPICS/CHAPTERS NAME PAGE

NUMBER

1 INTRODUCTION 7

1.1 History of Banking 8

1.2 Origin of Banking in India 15

1.3 What is Online Banking 202 REVIEW OF LITERATURE 26

3 OBJECTIVE OF STUDY 30

4 RESEARCH METHOLOGY 32

5 ANALYSIS AND INTERPRETATION 36

5.1 Interpretation of data survey 37

5.2 Suggestions 49

6 FINDINGS 51

6.1 Findings of the study 52

6.2 Limitations 537 CONLUSION 54

8 BIBLIOGRAPHY 56

9 SCOPE OF FURTHER STUDY 58

10 SCHEDULE 59

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INTRODUCTION

History of banking.

Roman sculpture showing moneychanger from 4th century BC

The history of banking is closely related to the history of money. As monetary payments

became important, people looked for ways to safely store their money. As trade grew, merchants

looked for ways of borrowing money to fund expeditions.

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Earliest banks

The first banks were probably the religious temples of the ancient world. In them was stored gold

in the form of easy-to-carry compressed plates. Their owners justly felt that temples were the

safest places to store their gold as they were constantly attended and well built and were sacred,

thus deterring would-be thieves. There are extant records of loans from the 18th century BC in

Babylon that were made by temple priests to merchants.

Ancient Greece holds further evidence of banking. Greek temples, as well as private and civic

entities, conducted financial transactions such as loans, deposits, currency exchange, and

validation of coinage. There is evidence too of credit, whereby in return for a payment from a

client, a moneylender in one Greek port would write a credit note for the client who could "cash"

the note in another city, saving the client the danger of carting coinage with him on his journey.

Ancient Rome perfected the administrative aspect of banking and saw greater regulation of

financial institutions and financial practices. Charging interest on loans and paying interest on

deposits became more highly developed and competitive.

During Late Antiquity and Middle ages

The ascent of Christianity in Rome and its influence restricted banking, as the charging of

interest was seen as immoral. Jews were ostracized from most professions by local rulers, the

Church and the guilds, were pushed into marginal occupations considered socially inferior, such

as tax and rent collecting and money lending, while the provision of financial services

increasingly demanded by the expansion of European trade and commerce.

Most early religious systems in the ancient Near East, and the secular codes arising from them,

did not forbid usury. These societies regarded inanimate matter as alive, like plants, animals and

people, and capable of reproducing itself. Hence if you lent 'food money', or monetary tokens of

any kind, it was legitimate to charge interest. Food money in the shape of olives, dates, seeds or

animals was lent out as early as c. 5000 BC, if not earlier. ... Among the Mesopotamians,

Hittites, Phoenicians and Egyptians, interest was legal and often fixed by the state. But the Jews

took a different view of the matter.

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The Torah and later sections of the Hebrew Bible criticize interest-taking, but interpretations of

the Biblical prohibition vary. One common understanding is that Jews are forbidden to charge

interest upon loans made to other Jews, but allowed to charge interest on transactions with non-

Jews, or Gentiles. However, the Hebrew Bible itself gives numerous examples where thisprovision was evaded. Johnson holds that the Hebrew Bible treats the lending as philanthropy in

a poor community whose aim was collective survival, but which is not obliged to be charitable

towards outsiders.

Medieval trade fairs, such as the one in Hamburg, contributed to the growth of banking in a

curious way: moneychangers issued documents redeemable at other fairs, in exchange for hard

currency. These documents could be cashed at another fair in a different country or at a future

fair in the same location. If redeemable at a future date, they would often be discounted by an

amount comparable to a rate of interest. Eventually, these documents evolved into bills of

exchange, which could be redeemed at any office of the issuing banker. These bills made it

possible to transfer large sums of money without the complications of hauling large chests of

gold and hiring armed guards to protect the gold from thieves.

Ironically, the papal bankers were the most successful of the Western world. When Pope John

XXII (born Jacques d'Euse (1249 - 1334) was crowned in Lyon in 1316, he set up residency in

Avignon. The accompanying growth of Italian banking in France was the start of the Lombard

moneychangers in Europe, who moved from city to city along the busy pilgrim routes important

for trade. Key cities in this period were Cahors, the birthplace of Pope John XXII, and Figeac.

Perhaps it was because of these origins that the term Lombardis synonymous with Cahorsin in

medieval Europe, and means 'pawnbroker'.

Western banking history

Modern Western economic and financial history is usually traced back to the coffee houses of

London. The London Royal Exchange was established in 1565. At that time moneychangers

were already called bankers, though the term "bank" usually referred to their offices, and did not

carry the meaning it does today. There was also a hierarchical order among professionals; at the

top were the bankers who did business with heads of state, next were the city exchanges, and at

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the bottom were the pawn shops or "Lombards. Most European cities today have a Lombard

street where the pawn shop was located.

After the siege of Antwerp trade moved to Amsterdam. In 1609 the Amsterdamsche Wissel bank

(Amsterdam Exchange Bank) was founded which made Amsterdam the financial centre of the

world until the Industrial Revolution.

Banking offices were usually located near centers of trade, and in the late 17th century, the

largest centers for commerce were the ports of Amsterdam, London, and Hamburg. Individuals

could participate in the lucrative East India trade by purchasing bills of credit from these banks,

but the price they received for commodities was dependent on the ships returning (which often

didn't happen on time) and on the cargo they carried (which often wasn't according to plan). The

commodities market was very volatile for this reason, and also because of the many wars that led

to cargo seizures and loss of ships.

The growth of commercial banking

US financial market

By the early 1900s New York was beginning to emerge as a world financial centre. Companies

and individuals acquired large investments in (other) companies in the US and Europe, resulting

in the first true market integration. This comparatively high level of market integration proved

especially beneficial when World War I cameboth sides in the conflict sought funds from the

United States, by issuing new securities and selling existing holdings, though the Allied Powers

raised by far the larger amounts. Being a lender to the world resulted in the largest growth of a

financial economy to that point.

The stock market crash in 1929 was a global eventmarkets crashed everywhere, all at the same

time, and the volume of foreign selling orders was high. The Great Depression followed, and the

banks were blamed for it, although the evidence has never been strong to connect the speculative

activities of the banks during the 1920s with either the crash or the subsequent depression of the

1930s. Nonetheless, there were three prominent results from these events that had great effect on

American banking. The first was the passage of the Banking Act of 1933 that provided for the

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Federal Deposit Insurance system and the GlassSteagall provisions that completely separated

commercial banking and securities activities. Second was the depression itself, which led in the

end to World War II and a 30-year period in which banking was confined to basic, slow-growing

deposit taking and loan making within a limited local market only. And third was the risingimportance of the government in deciding financial matters, especially during the post-war

recovery period. As a consequence, there was comparatively little for banks or securities firms to

do from the early 1930s until the early 1960s.

Global banking

In the 1970s, a number of smaller crashes tied to the policies put in place following the

depression, resulted in deregulation and privatization of government-owned enterprises in the1980s, indicating that governments of industrial countries around the world found private-sector

solutions to problems of economic growth and development preferable to state-operated, semi-

socialist programs. This spurred a trend that was already prevalent in the business sector, large

companies becoming global and dealing with customers, suppliers, manufacturing, and

information centers all over the world.

Global banking and capital market services proliferated during the 1980s and 1990s as a result of

a great increase in demand from companies, governments, and financial institutions, but also

because financial market conditions were buoyant and, on the whole, bullish. Interest rates in the

United States declined from about 15% for two-year U.S. Treasury notes to about 5% during the

20-year period, and financial assets grew then at a rate approximately twice the rate of the world

economy. Such growth rate would have been lower, in the last twenty years, were it not for the

profound effects of the internationalization of financial markets especially U.S. Foreign

investments, particularly from Japan, who not only provided the funds to corporations in the

U.S., but also helped finance the federal government; thus, transforming the U.S. stock marketby far into the largest in the world.

Nevertheless, in recent years, the dominance of U.S. financial markets has been disappearing and

there has been an increasing interest in foreign stocks. The extraordinary growth of foreign

financial markets results from both large increases in the pool of savings in foreign countries,

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such as Japan, and, especially, the deregulation of foreign financial markets, which has enabled

them to expand their activities. Thus, American corporations and banks have started seeking

investment opportunities abroad, prompting the development in the U.S. of mutual funds

specializing in trading in foreign stock markets.

Such growing internationalization and opportunity in financial services has entirely changed the

competitive landscape, as now many banks have demonstrated a preference for the universal

banking model so prevalent in Europe. Universal banks are free to engage in all forms of

financial services, make investments in client companies, and function as much as possible as a

one-stop supplier of both retail and wholesale financial services.

Many such possible alignments could be accomplished only by large acquisitions, and there were

many of them. By the end of 2000, a year in which a record level of financial services

transactions with a market value of $10.5 trillion occurred, the top ten banks commanded a

market share of more than 80% and the top five, 55%. Of the top ten banks ranked by market

share, seven were large universal-type banks (three American and four European), and the

remaining three were large U.S. investment banks who between them accounted for a 33%

market share.

This growth and opportunity also led to an unexpected outcome: entrance into the market of

other financial intermediaries: non banks. Large corporate players were beginning to find their

way into the financial service community, offering competition to established banks. The main

services offered included insurances, pension, mutual, money market and hedge funds, loans and

credits and securities. Indeed, by the end of 2001 the market capitalization of the worlds 15

largest financial services providers included four non banks.

In recent years, the process of financial innovation has advanced enormously increasing the

importance and profitability of non bank finance. Such profitability priory restricted to the non

banking industry, has prompted the Office of the Comptroller of the Currency (OCC)to

encourage banks to explore other financial instruments, diversifying banks' business as well as

improving banking economic health. Hence, as the distinct financial instruments are being

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explored and adopted by both the banking and non banking industries, the distinction between

different financial institutions is gradually vanishing.

A recent innovation in 2005 was the creation of prosper.com, a financial institution based on the

idea of a person-to-person (P2P) system. Prosper.com allows individuals and groups to bid on

interest rates for loans as either borrowers or lenders, effectively making each individual person

a banking institution. The system is protected by credit ratings and identity verification.

Oldest private banks

Barclays which was founded by John Freame and Thomas Gould in 1690. The bank was

renamed to Barclays by Freame's son-in-law, James Barclay, in 1736.

Hope & Co., founded in 1762.

Barings Bank founded in 1806.

Rothschild family 1700 - present.

For French banking history, read the History of banks in France (in English or in French) on the

FBF website.

Oldest national banks

Bank of Sweden The rise of the national banks

Bank of England The evolution of modern central banking policies

Bank of America The invention of centralized check and payment processing

technology

Swiss banking

United States Banking

The Pennsylvania Land Bank, founded in 1723 and receiving the support of BenjaminFranklin who wrote "Modest Enquiry into the Nature and Necessity of a Paper Currency"

in 1729[1].

Imperial Bank of Persia (Iran) History of banking in the Middle-East

ORIGIN IN INDIA

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In India as early as Vedic era, banking existed in its crude form. The works of

Manu, contain references to deposits, pledges, policy of loans and rates of interests

etc. the original banking operations were in the hands of indigenous bankers, who

dominated the finance to the extent that they provided credit to the govt. of also.

State Bank of India

(History of banking in India)

State Bank of India

Type Public (BSE, NSE:SBI) & (LSE:SBID)

Founded Calcutta, 1806 (as Bank of Calcutta)

Headquarters Corporate Centre,Madame Cama Road,Mumbai 400 021 India

Key people Chairman Om Prakash Bhatt

Industry BankingInsuranceCapital Markets and allied industries

Products Loans, Credit Cards, Savings, Investmentvehicles, SBI Life (Insurance) etc.

Revenue USD 13.775 billion (2005)

Slogan The nation banks on us

Website www.statebankofindia.com

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State Bank of India (SBI) (LSE: SBID) is the largest bank in India. It is also, measured by the

number of branch offices and employees, the largest bank in the world. Established in 1806 as

Bank of Bengal, it remains the oldest commercial bank in the Indian Subcontinent and also the

most successful one providing various domestic, international and NRI products and services,

through its vast network in India and overseas. With an asset base of $126 billion and its reach, it

is a regional banking behemoth. The bank was nationalized in 1955 with the Reserve Bank of

India having a 60% stake. It has laid emphasis on reducing the huge manpower through Golden

handshake schemes and computerizing its operations.

Roots

The roots to the State Bank of India are traceable to the first decade of 19th century, when the

Bank of Calcutta, later renamed as the Bank of Bengal, was established on 2 June 1806. The

Bank of Bengal and two other Presidency banks, namely, the Bank of Bombay (incorporated on

15 April 1840) and the Bank of Madras (incorporated on 1 July 1843) were amalgamated on 27

January 1921, and the reorganized banking entity was named the Imperial Bank of India. All

these Presidency banks were incorporated as joint stock companies, and were the result of the

royal charters. The Imperial Bank of India continued to remain a joint stock company. Until the

establishment of a central bank in India the Imperial Bank and its early predecessors served as

the nation's central bank printing currency.

The Reserve Bank of India, which is the central banking organization of India, in the year 1955,

acquired a controlling interest in the Imperial Bank of India and the Imperial Bank of India was

christened on 30 April 1955 as the State Bank of India. This acquisition of the controlling

interest was done pursuant to the provisions of the State Bank of India Act 1955, an Act enacted

by the Parliament of India

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State Bank of Bikaner & Jaipur

State Bank of Hyderabad

State Bank of Indore

State Bank of Mysore State Bank of Patiala

State Bank of Saurashtra

State Bank of Travancore

Growth

State Bank of India has often acted as guarantor to the Indian Government, most notably during

Chandra Shekhar's tenure as Prime Minister of India. With more than 9400 branches and afurther 4000+ associate bank branches, the SBI has extensive coverage. State Bank of India has

electronically networked most of its metropolitan, urban and semi-urban branches under Core

Banking System (CBS). The bank has the largest ATM network in the country having more than

5600 in number . The State Bank of India has had steady growth over its history, though it was

marred by the Harshad Mehta scam in 1992.Following its arch-rival ICICI Bank, the bank has

started Core banking process by which more than 4400+ branched have been completed so far.

In recent years, the bank has sought to expand its overseas operations by buying foreign banks. It

is the only Indian bank to feature in the top 100 world banks in the Fortune Global 500 rating

and various other rankings. According to the Forbes 2000 listing it tops all Indian companies.

Fortune Global 500 Ranking - 2006

SBI debuted in the Fortune Global 500 at 498 in 2006.

Group companies

SBI Capital Markets Ltd

SBI Mutual Fund (A Trust)

SBI Factors and Commercial Services Ltd

SBI DFHI Ltd

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SBI Cards and Payment Services Pvt Ltd

SBI Life Insurance Co. Ltd - Banc assurance (Life Insurance)

SBI Funds Management Pvt Ltd

SBI Canada

IT Initiatives

According to PM Network (December 2006, Vol. 20, No. 12), State Bank of India launched a

project in 2002 to network more than 14,000 domestic and 70 foreign offices and branches. The

first and the second phases of the project have already been completed and the third phase is still

in progress. As of December 2006, over 10,000 branches have been covered.

The new infrastructure serves as the bank's backbone, carrying all applications, such as the IP

telephone network, ATM network, Internet banking and internal e-mail. The new infrastructure

has enabled the bank to further grow its ATM network with plans to add another 3,000 by the

end of 2007 raising the total number to 8,600.

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from anywhere where Internet access is available. In most cases a web browser is utilized and

any normal internet connection is suitable. No special software or hardware is usually needed.

In India ICICI Bank was the first to provide e-banking service, these

services were launched in the year 1998

Features

Online banking usually offers such features as:

Bank statements, with the possibility to import data in a personal finance program such as

Quicken or Microsoft Money

Electronic bill payment

Funds transfer between a customer's own checking and savings accounts, or to another

customer's account

Investment purchase or sale

Loan applications and transactions, such as repayments

Account aggregation to allow the customers to monitor all of their accounts in one place

whether they are with their main bank or with other institutions.

There are a growing number of so-called virtual banks that operate exclusively online. These

online banks have low costs compared to traditional banks and so they often offer higher interest

rates.

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Security

Security token devices

Protection through single password authentication, as is the case in most secure Internet

shopping sites, is not considered secure enough for personal online banking applications in some

countries. Online banking user interfaces are secure sites (generally employing the https

protocol) and traffic of all information - including the password - is encrypted, making it next to

impossible for a third party to obtain or modify information after it is sent. However, encryption

alone does not rule out the possibility of hackers gaining access to vulnerable home PCs and

intercepting the password as it is typed in (key logging). There is also the danger of password

cracking and physical theft of passwords written down by careless users.

Many online banking services therefore impose a second layer of security. Strategies vary, but a

common method is the use of transaction numbers, or TANs, which are essentially single use

passwords. Another strategy is the use of two passwords, only random parts of which are entered

at the start of every online banking session. This is however slightly less secure than the TAN

alternative and more inconvenient for the user. A third option, used in many European countries

and currently being trialed in the UK is providing customers with security token devices capable

of generating single use passwords unique to the customer's token (this is called two-factor

authentication or 2FA). Another option is using digital certificates, which digitally sign or

authenticate the transactions, by linking them to the physical device (e.g. computer, mobile

phone, etc). While most online banking in the United States still uses single password protection,

the FDIC has issued regulations requiring that banks implement more secure authentication

mechanisms by the end of 2006.

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Banks in many European countries (including the Scandinavian countries, the Netherlands,

Austria and Belgium) are offering online banking for e-commerce payments directly from

customer to merchants. For instance, see iDEAL.

Fraud

Some customers avoid online banking as they perceive it as being too vulnerable to fraud. The

security measures employed by most banks can never be completely safe, but in practice the

number of fraud victims due to online banking is very small. This is probably due to the fact that

a relatively small number of people use internet banking compared with the total number of

banking customers world wide. Indeed, conventional banking practices may be more prone to

abuse by fraudsters than online banking. Credit card fraud, signature forgery and identity theftare far more widespread "offline" crimes than malicious hacking. Bank transactions are generally

traceable and criminal penalties for bank fraud are high. Online banking becomes less secure if

users are careless, gullible or computer illiterate. An increasingly popular criminal practice to

gain access to a user's finances is phishing, whereby the user is in some way persuaded to hand

over their password(s) to a fraudster.

ADVANTAGES OF ONLINE BANKING

Convenience: Unlike your corner bank, online banking sites never close; they're

available 24 hours a day, seven days a week, and they're only a mouse click away.

Ubiquity: If you're out of state or even out of the country when a money problem arises,

you can log on instantly to your online bank and take care of business, 24/7.

Transaction speed: Online bank sites generally execute and confirm transactions at or

quicker than ATM processing speeds.

Efficiency: You can access and manage all of your bank accounts, including IRAs, CDs,

even securities, from one secure site.

Effectiveness: Many online banking sites now offer sophisticated tools, including

account aggregation, stock quotes, rate alerts and portfolio managing programs to help you

manage all of your assets more effectively. Most are also compatible with money managing

programs such as Quicken and Microsoft Money.

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DISADVANTAGES OF ONLINE BANKING

Start-up may take time: In order to register for your bank's online program, you will

probably have to provide ID and sign a form at a bank branch. If you and your spouse wish to

view and manage your assets together online, one of you may have to sign a durable power of

attorney before the bank will display all of your holdings together.

Learning curve: Banking sites can be difficult to navigate at first. Plan to invest some

time and/or read the tutorials in order to become comfortable in your virtual lobby.

Bank site changes: Even the largest banks periodically upgrade their online programs,

adding new features in unfamiliar places. In some cases, you may have to re-enter account

information. The trust thing: For many people, the biggest hurdle to online banking is learning to

trust it. Did my transaction go through? Did I push the transfer button once or twice? Best bet:

always print the transaction receipt and keep it with your bank records until it shows up on

your personal site and/or your bank statement.

TYPES OF RISKS ASSOCIATED WITH E-BANKING.

S.No. Type of Risk About Risk Problem Solution

1. Operational It takes the form of inaccurate processing oftransactions, non-enforceability of contracts,compromises in dataintegrity, data privacy andconfidentially,unauthorized access.

Avoid weakness in designimplementation andmonitoring of banksinformation system.Maintain adequatetechnology. Consider onlyrequisite expertise.

2. Security Security risk arises onaccount of unauthorized

access to banks criticalinformation stores likeaccounting system, riskmanagement system,portfolio managementsystem, data alterationintentionally orunintentionally.

Control and technologicaltools to ensure data integrity

authorization control.

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3. SystemArchitecture &Design

Banks faces the risk ofwrong choice oftechnology, impropersystem design andinadequate control process.

Not to use out-dated , notscaleable and not proventechnology. Educate its ownstaff. Avoid overdependence on vendors.

4. Reputational Risk Negative Public Opinion,lack of public confidence,inadequate information tocustomers about productand services.

Test the system beforimplementation. Base upfacilities, contingency plansincluding plans to addressthe customer problemsduring system disruption.Deployment of ethicalHackers for pulling theloopholes and other securitymeasures.

5. Legal Legal risk arises from

violation of or non-conformance with laws,rules, regulations orprescribed practices orwhen legal rights andobligations of parties to atransaction are not wellestablished.

A customer should

adequately informed abouthis rights and obligations.

6. MoneyLaundering.

Detecting and preventingundesirable criminalactivities.

Design proper customeridentification and screeningtechniques.

7. Cross border Uncertanities about legalrequirements in somecountries and jurisdictionambiguities with respest toresponsibilities of differentnational authorities.

Select proper serviceprovider which can provideservicesbeyond borders.

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REVIEW OF LITERATURE

REVIEW OF LITERATURE

1. The role of consumer innovativeness and perceived risk in online banking usage .Authors: Alds-Manzano, Joaqun;Source: International Journal of Indian Culture and Business Management, Volume2, Number 3, 27 February 2009 , pp. 307-325(19)Publisher: Emerald Group Publishing Limited

Purpose - The purpose of this paper is to analyse how consumer innovativeness can be usedas a variable to positively influence internet banking adoption both directly and reducing

consumer perceived risk.Design/methodology/approach - The impact of innovativeness and risk on internet bankingadoption has been tested through structural equation modelling techniques. The sampleconsists of 511 Spanish internet banking services users accessed through an internet survey.Risk has been measured as a formative construct.Findings - Results reveals consumer innovativeness as a key construct to improve e- banking adoption both directly and by its effective role in reducing consumer riskperception of using internet channel in the financial services context.

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Practical implications - Practical guidelines are provided to bank managers on how to useconsumer innovativeness level as a segmentation variable to increase the use of internetbanking among actual customers who are non users or light users of the electronic channel.

2. Attributes affecting the growth of online banking: a consumer perspectiveAuthors: Dutta, Kirti; Makkar, UrvashiSource: International Journal of Technology Marketing, Volume 3, Number 4, 5 December2008 , pp. 376-391(16)Publisher: Inderscience Publishers

Technology in Indian banks is catching up fast with the developments around the world.This adoption not only allows banks to offer new types of banking and financial products,but also the highest level of services. The current paper focuses on the other side of thecoin, i.e., the adoption of Internet Banking (IB) by the consumers. The paper delves into

the trends in IB and delineates the factors that affect the use of IB by customers. The 19attributes that were studied for IB adoption were reduced to seven factors. It was observedthat the sought-after benefits - encouragement, ease and accuracy, convenience and control,lifestyle and social factors, and bank reputation - were the five most important factors. Onthe other hand, factors such as the lack of knowledge and trust, security and privacy issuesand the lack of training and incentives, were found to act as major inhibitors in IBadoption.

3.Investigating the drivers of internet banking adoption decision: A comparison of threealternative frameworks.

Authors: Gounaris, Spiros; Koritos, ChristosSource: The International Journal of Bank Marketing, Volume 26, Number 5, 2008 , pp. 282-304(23)Publisher: Emerald Group Publishing Limited

Purpose - The paper seeks to compare, through empirical evidence, two widely adopted models(the Technology Acceptance Model (TAM) and the Diffusion of Innovations (DoI) model) to anunderutilized one (Perceived Characteristics of the Innovation) in order to examine which isbetter in predicting consumer adoption of internet banking (IB), while investigating innovationattributes vis--vis other important predictors of adoption of innovations, such as consumerpersonal characteristics.

Design/methodology/approach - The data derive from both users and non-users of IB through aweb survey. The paper assesses the psychometric properties of the measures throughconfirmatory factor analysis and then employs logistic regression analysis in order to assess andcompare the ability of the models to accurately predict consumer adoption of IB. The paper alsoincorporates other non-usability types of characteristics (i.e. social, psychological) into TAM andDoI, and identifies the moderating role of shopping context, between innovation characteristicsand decision to adopt.

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4.Re-examining traditional service quality in an e-banking era.Authors: Wong, David H.; Rexha, Nexhmi; Phau, IanSource: The International Journal of Bank Marketing, Volume 26, Number 7, 2008 , pp. 526-

545(20)Publisher: Emerald Group Publishing Limited

Purpose - This paper aims to re-examine the role of traditional service quality in an e-bankingenvironment by providing a review of how traditional service quality perceptions have evolvedthrough the current and continuing stream of change in banking technology and thecorresponding changes in the nature of how banks interact with their customers.Design/methodology/approach - Data were collected from a mail survey sent out to acommercially purchased mailing list of 2,500 business names and addresses. The overall usableresponse rate was 30.6 per cent. Quadrant analysis was performed on the service qualitydimensions from the SERVQUAL scale.

Findings - While the importance ranking of the five SERVQUAL dimensions has not changeddramatically over the years, large discrepancies were found between customer expectations andtheir perceived performance of traditional banking services.

5.Consumer payment choices: paper, plastic, or electrons?Authors: Hogarth, Jeanne M.; Kolodinsky, Jane; Gabor, Tatiana

Source: International Journal of Electronic Banking, Volume 1, Number 1, 24 September 2008 ,pp. 16-35(20)Publisher: Inderscience Publishers

Using data from the Surveys of Consumers, this paper examines the portfolio of payment choicesthat different groups of consumers use and identifies the socio-economic, demographic, andattitudinal characteristics of groups of consumers that fall within those choice sets. We find thatyounger, married, more highly educated, higher income, higher asset households were morelikely to adopt a broad range of electronic payment choices. We also find that consumers'attitudes and perceptions of e-banking, in terms of security and privacy, convenience, and

familiarity and ease of use, were significant correlates of payment choices

6.The determinants of customer interactions with internet-enabled e-banking servicesAuthors: Liao, Z; Wong, W KSource: Journal of the Operational Research Society, Volume 59, Number 9, September 2008 ,pp. 1201-1210(10)Publisher: Palgrave Macmillan

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RESEARCH METHODOLOGYRESEARCH METHODOLOGY.

Research methodology is the specification of method of acquiring the information

needed to structure or solve the problem at hand. It is not concerned to decision of the fact, but

also building up to date knowledge and to discover the new facts involved through the process of

dynamic change in the society.

This chapter [presents a study of the method used for collection and analysis of data related to a

research projects entitled (E Banking). This study has been conducted within a short time frame.

Thus scope of the study is limited since secondary data were relied upon it is difficult to maintain

uniformity in sample size for comparative analysis of various aspects relating to E-Banking. Also

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qualitative analysis has been used in the main to arrive at conclusion rather than rigors statistical

analysis.

Scope of the Study

The area of survey for this research project is restricted to Bangalore only and includes some

corporate people from different corporate like Reliance,HDFC bank,ICICI bank, it also includes

students from Alliance university. Their are also some Doctors and C.A,s Included in the Study.

FIELD OF RESEARCH

Research was carried out through a survey at the areas :

CORPORATE ENTERPRISE

INTEL TECHNOLOGY

RELIANCE COMMUNICATIONS

ICICI BANK

HDFC BANK

PUNJAB NATIONAL BANK

STATE BANK OF INDIA

AIRTEL

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STUDY ALSO INCLUDES THE BUSINESSMAN

The survey was also done on DOCTORS OF NARAYANA HRUDAYALAYA

HOSPITAL BANGALORE, ACCOUTANTS, PROFFESORS OF

ALLIANCE COLLEGE BANGALORE

OPEN MARKET:- The survey was also done in big markets of Bangalore.

FORUM MALL BANGALORE GOPALAN MALL BANGALORE

Data Analysis and Interpretation:

The data collected has been analyzed through the tabulation based on percentage and actual

numbers or scores. Interpretation of the collected and the analyzed data have been done through

presentation in the form of appropriate figure i.e. pie chart

SAMPLING TECHNIQUES

* Convenience sampling

SAMPLE SIZE

* 150

SOURCE OF DATA

* Primary data is my investigation and secondary data is collected from various

websites and books.

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DATA COLLECTION INSTRUMENT

* Structured Schedules.

ANALYSIS AND INTERPRETATION

INTERPRETATION OF DATA SURVEY WITH ANALYSIS

Q1. Do you have a Bank Account?

TABLE NO:1

BANK ACCOUNT NO OF PEOPLE %OF RESPONDENTS

YES 138 92%

NO 12 8%

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TOTAL 150 100%

CHART SHOWING RESPONSE OFPEOPLE

No, 12,

8%

Yes,

138,

92%

Yes

No

When I asked this question to 150 people, 138 replied in Yes. 12 persons said no.

They are aware of banks but not availing the services due to personal reasons.

This thing clarifies that people are aware about advantages provided by the bank

and maximum are using it.

Q2. In which Sector do you have bank Account?

TABLE NO:2

SECTOR NO.OF

RESPONDENTS

% OF

RESPONDENTS

Private 53 38%

Public 59 43%

Both 26 19%

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Total 138 100%

SECTORS IN WHICH PEOPLE HAVE BANK

ACCOUNT

26, 19%53, 38%

59, 43%

Private

Public

Both

In this Question out of 138 People, 59 with the Percentage of 43 said that they are

using Public Banks,53 respondents with the Percentage of 38 said that they are

using Private Bank services and 26 respondents are using the services of both

Sector banks. So there is neck to neck fight between the banks of the country, most

of the corporate people are availing the private bank services.

Q3. Name the Bank in which you have bank Account?

TABLE NO:3

NAME OF BANK NO OF PEOPLEState Bank (SBI,SBP,SSS All) 34

ICICI 26

HDFC 22Punjab National Bank 20

Canara Bank 6

HSBC 6

Citi Bank 4

Dena Bank 2

IDBI Bank 7

Axis Bank 11

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Allahabad Bank 4

Kotak Mahindra Bank 10

Bank Of Baroda 1

Indian Overseas Bank 5

Oriental Bank of Commerce 6

WHEN WE INCLUDES BOTH OPTION IN THE PREVIOUS QUESTION THE

RESULT IS:

TOTAL PUBLIC: 85

TOTAL PRIVATE: 79

34

2622

20

6 64

2

711

4

10

15 6

0

5

10

15

20

25

30

35

40

BAR GRAPHS SHOWING BANKS IN WHICH

PEOPLE HAVE BANK ACCOUNTS

Q4. Is your Bank Providing E-Banking Services?

TABLE NO:4

TYPE OF RESPONSE NO OF PEOPLE %OF RESPONDENTS

YES 138 100%

NO 0 0%

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Each and every bank is providing the E Banking services so out of the people

surveyed all said that their bank is providing the E Banking Services, this shows

the scope of E Banking services in India

Q.5 Are you using the E Banking Services provided by yours bank? (If No

Move to Q.8,If yes ans all Questions.)

TABLE NO:5

TYPE OF RESPONSE NO OF PEOPLE %OF RESPONDENTS

YES 90 65%

NO 48 35%

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TOTAL 138 100%

90 480

10

20

30

40

50

60

70

80

90

100

YES NO

NO OF RESPONDENTS (OUT OF 138)

NO OF RESPONDENTS

The survey shows that out of 138 people who have the bank account 90 are using

the E banking services and 48 are not using the E Banking services, This shows the

increase of E banking In India ,But the Results can not be perfectly reliable

because the major chunk of people in the survey is the cooperates and businessman

which include Banks, Stock Exchange, Manufacturing Companies etc,May be the

major survey done in Government organizations and students the results might

have shown the different trend.

Q6. For what purpose you are using E-banking Services?

TABLE NO:6

PURPOSE NO OF

RESPONDENTS

% OF

RESPONDENTS

Payments of Bills 19 21%

Fund Transfer 28 31%

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Account Inquiry 9 11%

Share Trading 21 23%

Others, Like Rail Booking 13 14%

Total 90 100%

Payments of

Bills, 21%

Fund Transfer, 31%

Account

Inquiry, 11%

Share Trading, 23%

Others, Like Rail

Booking, 14%

% OF RESPONDENTS

Payments of Bills

Fund Transfer

Account Inquiry

Share Trading

Others, Like Rail Booking

According to the survey done maximum i.e. 31%people uses E Banking For the

purpose of Fund transfer, today many people are also using the E banking services

due to the Stock Market trading as many big stock companies access the transfer of

stocks through bank accounts .

Q7. How frequently do you avail the services of E-Banking?

TABLE NO:7

FREQUENCY NO OF

RESPONDENTS

% OF

RESPONDENTS

DAILY 9 10%

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WEEKLY 30 33%

MONTHLY 34 38%

DEPENDS 17 19%

TOTAL 90 100%

% OF RESPONDENTS SHOWING THE

FREQUENCY OF USE OF SERVICES

9, 10%

30, 33%

34, 38%

17, 19%

Daily

Weekly

Monthly

Depends

According to the survey maximum people that is 33% people use the service

weekly as according to their use , only the business man uses the services daily as

they has to see their daily transactions of their payments.

Q8. What is the transaction limit when you use online Banking?

TABLE NO:8

TRANSACTION LIMIT NO OF

RESPONDENTS

% OF RESPONDENTS

Below-25000 9 10%

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25000-50000 30 33%

50000-100000 34 38%

More then 1Lakh 17 19%

TOTAL 90 100%

BAR GRAPH SHOWING THE TRANSACTION LIMIT OF CUSTOMERS THROUGH

E BANKING (OUT OF 90)

According to the study maximum i.e. 34 OUT OF 90 people uses transaction

between Rs 50000-1lakh.

Q.9: What are the reasons for not using the E Banking services?

TABLE NO:9

REASON NO OF

RESPONDENTS

% OF

RESPONDENTS

Fear of hacking 15 31%

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Lack of knowledge 21 44%

Thinks that banks chargehefty for the service

8 17%

No Tendency to change 4 8%

TOTAL 48 100%

Fear of hacking

31%

Lack of knowledge

44%

Thinks that banks

charge hefty for the

service

12%

No Tendency to

change8%

Others

5%

% OF RESPONDENTS SHOWING REASONS FOR NOT

AVAILING THE SERVICE

According to the survey many people are not aware how to use the e banking

services they are knowing how to operate the computers but dont know the details

to use the e banking , as maximum people i.e. 44%people replied to this option ,

whereas on the other hand 31%people are not using due to hacking problems but

banks are coming up with this solution like using other techniques like

fingerprinting and retina system.

Q10. Do you think E-Banking is Advantageous? If No Skip Q11

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TABLE NO:10

Options No. of respondents

Yes 100

No 38

0

20

40

60

80

100

Yes No

100

38

NO OF RESPONDENTS

NOTE: The respondents who think that E Banking is not

advantageous are the people who are not using the E Banking

Services. As there are 38 people who thinks it is not advantageous ,but

acc to survey people not using the E Banking services are 48 , in this

10 people who are not using the services thinks that E Banking is

advantageous.

Q11. Rank the following advantages of E Banking according to yours choice?

TOTAL RESPONDENTS ARE 100

TABLE NO 9

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ADVANTAGENO OF PEOPLE

WITH RANK 1RANK 2 RANK 3 RANK 4 RANK 5

Anytime Transactions 42 29 25 4 0

Automatic updating of

accounts

7 9 16 43 25

Safer1 3 2 27 67

Others like no problem

of queue ,less burden of

cheques and pass books

35 40 13 11 1

Quick Transactions 15 19 44 15 7

According to the analysis done on the qualifying 100 people maximum says

anytime transaction as number 1, and on the other hand survey shows that people

also gives preference to less burden of queue, receipts, and pass books entries etc.

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0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

42

71

35

15

29

9

3

40

19

25

16

2

13

44

4

43

27

11

15

0

25

67

17

RANK 5

RANK 4

RANK 3

RANK 2

NO OF RESPONDENTS WITH RANK

1

Q.12: What are the suggestions you wants to give to the banks for the removal

of disadvantages if any, and for the improvement and expansion of the E

Banking services?

Ans: This was the open ended question the main aim of this question was to

identify the suggestions of the people who are not using the services to remove the

flaws, and to improve the services who are using the E Banking Facility.

There are many suggestions given by the different respondents two best one isgiven as below

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First one is given by Mr. Mahesh Thakurwho is Retired Flight Lieutenant in

Indian Air Force, Presently working as a Engineer in Reliance communication

Having the bank account in HDFC BANK amd ORIENTAL BANK OF

COMMERCE But not using the E Banking services. He says that

Due to Many frauds through the internet specially in the private banks customer

is always hesitating to use the service , no doubt the service is very good , but the

banks should have to create the trust among the minds of the people that E

banking is save through various other techniques can be any , rest Banks should

do more advertisements to increase the popularity ,and make it popular as ATMs

The second one is ofMr. Kuljit Singh who is a manager inPNB. Mr. Kuljit Singh

says that

First of all thanks to the college authorities who conducts this type of studies and

this data is very useful for us to improve, so as the banking is improving day by

day due to the competition so in order to make the customer fully satisfied there is

very much need on this type of services as sometimes due to heavy load on banks

on some days customer has to wait for a long time so E Banking will be very

helpful in overcoming this problem

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SUGGESTIONS

1. The banks should make their websites more secure to avoid the chance of

hacking and skimming of passwords.

2. Seminars should be conducted on mass scale to spread more awareness

about e banking and its advantages.

3. The system should be made easier and user friendly.

4. Newer and more innovative services should be provided.

5. Trust on customers that Their money is safe through E Banking

6. Banks should take the initiative to spread the awareness of E Banking as

they also know the necessity of E Banking in the Future.

7. Try to change the minds of the customers by showing the advantages of E

Banking.

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FINDINGS AND LIMITATIONS

FINDINGS

1. During my survey I found 138 out of 150 people are having bank accounts.

2. In case of common people maximum are having their accounts in Public

banks while in the case of Professionals and businessman more preference is

towards private banks.

3. In public sector banks, SBI is most preferred and in case of Private sector

ICICI is on the top.

4. 100%people are aware that their bank is providing the E Banking services.

5. Out of 138 respondents 90 are using the E Banking Service and 48 are not

using.

6. Maximum people use e banking for transfer of funds and Share Trading.

7. Many people who are not using the E banking service agree on the fact that e

banking is advantageous.

8. The main reason for not using the E Banking service is lack of knowledge as

44%people respond to it and hacking problem.

9. Banks are very much working on to remove the hacking problems and other

flaws in the way of E Banking.

10.Each and every customer wants a quick transaction they are not ready to

wait so banks are coming with new technologies to satisfy the customers this

reasons has also lead to change the way of Public Banks , like today only SBI is

the Only bank which provides the 9AM to 7PM Service in the recession time as

ICICI has also withdraw the 8 to 8 facility.

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LIMITATIONS

Sincere efforts have been made to collect authentic and reliable

information from respondents. However, the report is subject to the following

limitations.

1) Some respondents were reluctant to give information, so their responses

may be biased.

2) Time could be major limitation. It may be affect the influence through

drawn in the study.

3) Although the questionnaires were prepared after a pilot testing, but a few

points could have been missed.4) The study is restricted to Ludhiana Districts only.

5) Study suffers limitations of time and resource constraints.

6) Subjectivity in the response is another limitation of the study.

7) The respondents are asked to give their practical views but the results

may have been affected by personal biasness of the respondents.

8) Sometimes the respondents are normally busy, so there were chances that

the information obtained in some cases might have limited from actual.

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CONCLUSIONCONCLUSION

After doing the survey and interpreting the data, I can conclude that e banking is an

advantageous feature provided by the banks. People are using it and want more

innovations in it, including the people who are not using the facility also want to

use the E Banking facility if proper guidance and trust is made on them, I can also

conclude that Public banks are still favorable for common people due to their

improved services but the preference of Professionals and businessman is Private

sector banks due to quicker services.

THANK YOU

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BIBLIOGRAPHY

BIBLIOGRAPHY

1) Marketing Management : By Philip Kotler

2) Marketing Management : By Kalyani Publishers

3) Research methodology : : By C.R. Kothari

4) Business Today

5) Internet

5.1 www.google.com

5.2 www.hdfcbank.com

5.3 www.ingenta.com

5.4 www.bankrate.com

5.5 www.emarldinsight.com

5.6 www.wikepedia.com

5.7 www.altavista.com

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http://www.google.com/http://www.hdfcbank.com/http://www.ingenta.com/http://www.bankrate.com/http://www.emarldinsight.com/http://www.wikepedia.com/http://www.google.com/http://www.hdfcbank.com/http://www.ingenta.com/http://www.bankrate.com/http://www.emarldinsight.com/http://www.wikepedia.com/


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SCHEDULE

Q1. Do you have a Bank Account?

Yes

No

Q2. In which Sector do you have bank Account?

Private

Public

Both

Q3. Name the Banks in which you have bank Account?

Q4. Is your Bank Providing E-Banking Services?

Yes

No

Q5. Are you using the E Banking Services provided by yours bank? (If No Move to Q.9,If yes

ans all Questions.)

Yes

No

Q6. For what purpose you are using E-banking Services?

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Q11. Rank the following advantages of E Banking according to yours choice?

Anytime Transactions

Automatic updating of accounts

Safer

Others like no problem of queue ,less burden of cheques and pass books.

Quick Transactions

Q.12:What are the suggestions you wants to give to the banks for the removal of disadvantages if

any ,and for the improvement and expansion of the E Banking services?

NAME: ___________________________________

AGE:- _______Yrs

CONTACT NUMBER: ______________________

QUALIFICATION: _________________________

Documents

Final e Banking (1)