DIPLOMA IN GOVERNMENT ACCOUNTING & INTERNAL AUDIT (DGA&IA) 2012-13, NIFM, FARIDABAD ********************** PROFORMA FOR APPROVAL OF PROJECT

PROPOSAL Name of the Participant : CHANDER SAIN Phone / Cell No.: 9911110669 Email-id : chandersainarora@gmail.com E-Commerce in Banking and Finance in India

Title of the Project

(Signature of the Participant) SYNOPSIS APPROVED / NOT APPROVED

Comments / suggestions for reformulating the Project

Faculty Guide :- Dr. Namrata Agrawal Signature of the Faculty Guide

E-Commerce in Banking and Finance in India

A SYNOPSIS

(In Partial fulfillment of the requirement for the award of Diploma in Government Accounting & Internal Audit)

Submitted to :- Dr. Namrata Agrawal

Submitted by :- Chander Sain Dated :- 10.12.2012

E-Commerce in Banking and Finance in India

Contents

STATEMENT OF THE PROBLEM

This project aims to show that e-commerce holds the potential to transform banking and financial systems in India. During the last few years, the global scene of banking and finance has changed rapidly, largely due to deregulation and liberalisation and coupled with increased use of information technology. Technological Developments particularly in the area of Telecommunication and Information Technology have revolutionized the way business is to be done. E- Commerce is now thought to hold the promise of a new commercial revolution by offering an inexpensive and direct way to exchange information and to sell or buy products and services. This revolution in the market place has set in-motion a cut throat desire in the banking sector for the provision of payment system that are compatible with the demands of the electronic market place and thus given rise to the concept of E-Banking, E-Com in todays context implies no prior business relationship among the data transfers but it only requires a medium through which their transactions can be performed and that route can be: an internet. In the individual user's opinion E-Com indicates making a purchase through web, for big business houses it implies customer relationship and for large organization it indicates means to integration of their business in relation to their distributors network. For banking it implies performing basic banking transactions by the customers round the clock globally. The concept of E-Commerce started with the idea of attracting new customers providing with better services developing new markets and distribution channels at global level and offering new information based products and services through very innovative and high quality content. With the introduction of computers in Indian banks and with the arrangements of ATMs, the services are provided across the banks, Customers need not visit the bank to do banking transactions when their

bankers provide them tele-banking, remote banking, and various other E-Banking facilities at their door steps. This type of banking has taken the form of E-Banking and the concept has become popular not only with individuals but also with in the corporate world. Banking in India has passed through several phases since the times when formal banking activity has commenced. Of all, the current phase is the most interesting one where technology is playing a predominant role in deciding the acceptability or usage of banks to the customers. The project seeks to study how E-Commerce has influenced the Indian banking Sector and its various application areas through E-Banking. The project further tries to find out the future challenges and the security problems associated with E-commerce in Banking.

NEED OF THE STUDY:

While the Brick and Mortar banks will always be around taking the next position, the web will and has become the primary customer delivery channel. Hence the mindset of the bankers and customers has to be channelised towards going in tune with the global transactions, with EBanking, the tech-savvy bank's customer can better manage his/her funds and payments in real time and most important he/she can access the financial data 24 hours a day, 7 days a week The main purpose of this study is to get an overview of the internet banking & finance sector, its trend and its prospect with respect to Indian Economy and its facilitation to consumers.

OBJECTIVE OF THE STUDY

Is Indian Banking industry facilitating smart banking to its customers? To review the current development of E-Commerce in Banking and Finance in India. To identify the future prospectus of E-Commerce developments in Banking and Finance. To identify the risks and threats involved in the E-Commerce in banking and Finance. Steps initiated by the Government and other agencies to reduce risks associated with ECommerce in banking and Finance in India.

Has e-commerce become a necessary survival weapon in banking and finance industry

SCOPE OF THE STUDY

The study will be limited to the analysis of the evaluation and implementation of E-Commerce in banking and Finance in India as well as its advantages to consumers.

RESEARCH METHODOLOGY:
The primary and secondary source of data will be collected from the Ministries / Departments of the Government of India as well as the books/literature on the subject available in the library of the NIFM. In addition to this, articles and news available on the web sites of the banks will also be used as secondary data in the project. A SPSS tools will be used to analyize the data.

8.

Time Line (Schedule to be followed)

:of ::::::10th December, 2012 31st January, 2013 11th February, 2013 15th February, 2013 20th February, 2013 25th February, 2013 1st March, 2013

Submission of Synopsis
Review of literature Questionnaire & Preparation

Data Collection Data analysis Recommendations Submission of rough draft Final Submission of the project report

TENTATIVE CHAPTER SCHEME

Chapter No. 1. 2. 3. 4. 5. 6.

Chapter Name Introduction Literature Review Research Methodology Data Analysis Research Findings Recommendations