E-Banking Analytical Study

An Analytical Study on E- Banking Services
Bank
The Janatha Co-operative
CHAPTER- 1
INTRODUCTION
MLA Academy of Higher Learning.
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INTRODUCTION
INTRODUCTION TO FINANCIAL SERVICES
Since 1990s, there has been an upsurge in the financial services provided by
various banks and financial institutions. Efficiency of emerging financial system
largely depends upon the quality and variety of financial services provided by financial
intermediaries. Financial services are in fact, an important component of the financial
system. An orderly functioning of the financial system depends to a great deal on the
range of financial services being provided.
Financial services have today taken the shape of an industry. In fact, one of the
worlds largest industries today is the financial services industry.
The term financial services can be defined as activities, benefits and
satisfaction, connected with the sale of money that offers to users and consumers,
financial related value. Financial service organizations render services to industrial
enterprises and to ultimate consumer markets.
PLAYERS IN FINANCIAL SERVICE SECTOR

The various players that provide financial services to industrial enterprises and
ultimate consumer markets are explained below:
I. Banking Institutions
Indian banking industry is subject to the control of the central bank (i.e.
Reserve Bank of India). The RBI as the apex institution organizes runs, supervises,
regulates and develops the monetary system and the financial system of the country.
The main legislation governing commercial banks in India is the Banking Regulation
Act, 1949. The Indian banking institutions can be broadly classified into two
categories:
1) Organized sector
2) Unorganized sector
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Financial Institutions
Banking Financial
Institutions
Organized
Commercial
Banks, Cooperative Banks,
Regional Rural
Banks, Foreign
Banks.
Non-Banking
Financial Institutions
Unorganized
Indigenous
Banks, Money
Lenders etc.
Organized
Development Banks
IFCI, ICICI, IDBI,

SFCs, SIDCs,
SIDBIs, IIBI.
Fig: Types of Financial Institutions
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Unorganized
Non-Banking
Financial Companies
Investment
Companies, HirePurchase
Companies,
Merchant Banks.

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1) Organized Sector
The organized banking sector consists of commercial banks, cooperative banks
and the regional rural banks.
(a) Commercial banks

The commercial banks may be scheduled banks or non-scheduled banks. At
present only one bank is a non-scheduled bank. All other banks are scheduled banks.
The commercial bank consists of 27 public sector banks, private sector banks, and
foreign banks. Traditionally, commercial banks accepted deposits and met the short
term and medium term funding needs of the industry. But now, since 1990s banks are
also funding the long term needs of the industry particularly the infrastructure sector.
(b)Co-operative banks
An important segment of the organized sector of Indian banking is the cooperative banking.
Different types of co-operative credit societies are operating the Indian
economy. These institutions can be classified into two broad categories: (a) Rural
credit societies which are primarily agricultural; (b) Urban credit societies which are
primarily non-agricultural. For the purpose of agricultural credit there are different cooperative credit institutions to meet different kinds of needs. For example, short and
medium term credit is provided through three tier federal structure: (c) Regional Rural
Banks (RRBs). Regional Rural Banks were set by the state government and the
sponsoring commercial banks with the objective of developing the rural economy.
Regional Rural Banks provide banking services and credit to small farmers, small
entrepreneurs in the rural areas. (d) Foreign Banks. Foreign Banks have been in India
from British days. ANZ Grind lays Bank has its presence in number of places with 56
branches. The Standard and Chartered bank has 24 branches and Hong Kong Bank 21.
All other foreign banks have branches less than 10. Obviously, these banks have
concentrated on corporate clients and have been specializing in areas relating to
international banking.
History of Co-operative Bank
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The Co-operative Credit System was introduced in India in 1904, when the Cooperative Credit Society Act was passed. The societies formed under the Act were
intended to be small and simple credit societies for simple folks requiring small
accounts only. The other idea was also that of educating the farmers and others as to
the use of credits and of inculcating in them the habit of thrift and self-help.
The Co-operative is an important constituent of the Indian Financial System,
judging by the role assigned to Co-operative, the expectations the co-operative is
supposed to fulfill, their number and the movement originated in the west, but the
importance of such banks have assumed in India is rarely parallel anywhere else in the
impedance of such banks have operative banks in India play an important role even
today in rural financing. The business of Co-operative bank in the urban areas also has
increased phenomenally in recent years due to the sharp increase in the number of
Primary Co-operative banks.
Co-operative banks in India are registered under the Co-operative Societies
Act. The Co-operative bank is also regulated by the RBI. They are governed by the
Regulation Act 1949 and Banking Laws (Co-operative) Act 1965.
Meaning and definition of Co-operative Bank

Co-operative banks are a part of the vast and powerful super structure of Cooperative Institutions which are engaged in the tasks of production, marketing and
distribution, servicing and banking in India. Co-operative banks are the banks which
are registered under The Karnataka Co-operative Societies Act, 1959.
In the words of Henry Warf Co-operative banking is an agency which is in a
position to deal with the small man on his own terms accepting the security he has,
without drawing on the protecting of the rich.
Devine defines a Co-operative bank is a mutual society formed, composed and
governed by the working proper themselves for enrage regular saving and granting
small loans on easy terms of interest and easy payments.
TYPES OF CO-OPERATIVE BANK:
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RBI
NABARD
UCBS
SCBS
SLDBS
DCCBS
CLDBS
PACS
PLDBS
BRANCHES
OF SLDBS
Fig: Types of Co-operative Banks.
NABARD: National Bank for Agricultural and Rural Development.

SCBS
: State Co-operative Banks.
DCCBS : District Central Co-operative Banks.

PACS
: Primary Agricultural Credit Societies.
CLDBS : Central Land Development Banks.

PLDBS
: Primary Land Development Banks.
UCBS
: Urban Co-operative Banks.
SLDBS
: State Land Development Banks.
RBI
: Reserve Bank of India.
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Co-operative banks in India, finance urban areas under the following:
Industries.
Small scale Industries.
Home Finance.
Consumer Finance.
Personal Finance.
Self-employment.
Co-operative banks in India, finance rural areas under the following:
Farming.
Cattle.
Milk.
Pottery.
FEATURES:
They are organized and managed on the principles of Co-operative self-help
and mutual help.
They function with the rule one member one vote.
Co-operative banks perform all the main banking functions of deposit,
mobilization, supply of credit and provision of remittance facilities.
2) Unorganized Sector
In the unorganized banking sector there are the indigenous bankers, money
lenders, seths, sahukars carrying out the function of banking.
i.
Indigenous Bankers
Indigenous bankers are the forefathers of modern commercial banks. These are
the individuals or partnership firms performing the banking functions. They also act as
financial intermediaries. As the term indigenous indicates, they are the local bankers.
ii.
Money Lenders
Money lenders depend entirely on their own funds for the working capital.
Money lenders may be rural or urban, professional or non-professional.
II.
Non-Banking Institutions
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The non-banking institutions may be categorized broadly into two groups

a) Organized Financial Institutions
b) Unorganized Financial Institutions
A. Organized Financial Institutions

a) All India development Financial Institutions.
b) The State Level Development Financial Institutions.
These specialized financial institutions are also Development Banks because
they provide not only finances but also help in promotion of new enterprises.
Industrial Finance Corporation of India (IFCI)

The industrial finance corporation of India was established in 1948 under the
IFCI 1948. The main objective of the corporation has been to provide medium and
long-term credit to industrial concerns in India. The objectives of the corporation as
laid down in the preamble of IFC Act, 1948, are making medium and long-term
credits more readily available to industrial concerns in India, particularly in
circumstances where normal banking accommodation is inappropriate or recourse to
capital issue methods is impracticable. The financial assistance of the corporation is
available to limited companies or co-operative societies registered in India and
engaged or proposing to engage in
(a) manufacture, preservations or processing of goods (b) the mining industry; (c) the
shipping business; (d) the hotel industry; and (e) the generation or distribution of
electricity or any other form of power.
Industrial Credit and Investment Corporation of India (ICICI)

The industrial credit and investment corporation of India (ICICI) was
established in 1995 as a public limited company under the Indian Companies Act for
developing medium and small industries of private sector. Initially its equity capital
was owned by companies, institutions and individuals but at present its equity is
owned by public sector institutions like banks, LIC and GIC etc. It provides term loans
in Indian and foreign currencies, underwrites issues of shares and debentures, makes
direct subscription to these issues and guarantees payment of credit made by others.
Industrial Development Bank of India (IDBI)

The Industrial Development Bank of India was established under the Industrial
Development Bank of India Act, 1964 as a wholly owned subsidiary of the Reserve
Bank of India. The ownership of IDBI has since been transferred to Central
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Government from February 16, 1976. The main object of establishing IDBI was set up
an apex institution to co-ordinate the activities of other financial and to act as a
reservoir on which the other financial institutions can draw. IDBI provides direct
financial assistance to industrial units also to bridge the gap between supply and
demand of medium and long term finance.
State Financial Corporations (SFCs)

The State Financial Corporation Act was passed by the Government of India in
1951 with a view to provide financial assistance to small and medium scale industries
which were beyond the scope of IFCI. According to this Act, a State Government is
empowered to establish a financial corporation to operate within the state. At present
there are 18 such corporations functioning in the country. These corporations are
expected to be complementary to the Industrial Finance Corporation of India. While
IFCI provides assistance only to large industrial concerns owned by public limited
companies, partnership firms or sole-trading concerns.
State Industrial Development Corporations (SIDCs)

In order to accelerate industrial development various states have set up
Industrial Development Corporations. Andhra Pradesh and Bihar were the first states
to set up such corporations in 1960. Most of the states have set up such institutions at
present. At present there are 28 such SIDCs working in the country. Many of these
corporations are registered under Companies Act and two have been set up under the
statutes of legislative bodies. These corporations are wholly owned by state
governments.
Industrial Investment Bank of India Ltd. (IIBIL)

IRBI was established on March 20, 1985 under Indian Industrial
Reconstruction Bank Act, 1984 as a result of reconstituting Indian Industrial
Reconstruction Corporation. The basic aim of establishing IRBI was to revive sick and
closed industrial units and to act as prime loan and reconstruction agency. IRBI has
been rechristened as Industrial Investment Bank of India Ltd. (IIBIL) with effect from
March 27, 1997.
Small Industries Development Bank of India (SIDBI)
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The Small Industries Bank of India was set up in 1990 under the SIDBI Act,
1990. The main objective of SIDBI has been to work as a principal financial institution
for the promotion, financing and development of industries in the small-scale sector.
B. Unorganized Financial Institutions

The unorganized non-banking financial institutions include number of nonbanking financial companies (NBFCs) providing whole range of financial services.
These include hire-purchase and consumer finance companies, leasing companies,
housing finance companies, factoring companies, credit rating agencies, merchant
banking companies etc. NBFCs mobilize public funds and provide loanable funds.
There has been remarkable increase in the number of such companies since 1990s.
NBFCs intermediate between the savers and investors. These companies are
also known as Finance Companies, Loan Companies, Finance Corporations etc.
They advance loans to wholesale and retail traders, small scale industries and selfemployed persons. The finance companies give loans which are generally unsecured
and the rate of interest charged is much higher than the banking companies. Besides
giving advances, the finance companies run chit funds, purchase and discount hundies,
and have also taken up merchant banking, mutual funds, hire-purchase, leasing etc.
BANKING INNOVATIONS
Banking plays a vital role in the economic growth of a country. The banking
scenario has changed drastically. The changes which have taken place in the last five
years are more than the changes that took place in last fifty years because of the
institutionalization, liberalization, globalization and automation in the banking
industry.
The main invention that is being brought in use is the computer. Today the
entire world is moving hand in hand and banks and computers are two wheels of the
same chariot. Today the computer is being extensively used in almost all bank
branches in our country. Services to the customers have substantially improved due to
easy, fast and accurate use of computers. Banks provide wide range of banking
services to the needs of different classes and sectors of society.
VIRTUAL BANKING
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Virtual banking refers to any banking service delivered to the customer by

means of a computer controlled system without involving the usual banks branch. In
other words, in a virtual bank, customers integration with the bank is replaced by an
electronic machine which is new and innovative. Virtual banking has been the result of
customer demand, commercial motivation and technology developments over the
years, use of virtual banking has increased due to the following factors:
The introduction of automated teller machine (ATM) imparted flexibility to
bank customers and gave further momentum to virtual banking.

The introduction of debit and credit cards helped both the consumers and
retailers to be free from cash handling.

The use of computer by banks for accounting and as a tool to expand and
improve customer service.

The routine banking transaction was becoming both costly and time
consuming. Virtual banking is being used to cut cost and time overheads in
handling routine transactions.
E-BANKING
E-Banking is the banking of the new era. Making banking products and
services available to wholesale and retail customers, through an electronic distribution
channel is called e-banking. E-banking is the outcome of technological innovations
and competition. In fact, banks have been using electronic and telecommunication
networks for delivering a wide range of value added products and services. The
devices have been telephone, personal computers including Automated Teller
Machines (ATM). The delivery channels have been direct dial up connections, private
and public networks. To this newer edition of e-banking are being added e.g. internet
banking and mobile banking.
The growing popularity of personal computers, easy access to internet and
World Wide Web (WWW), has increased the use of internet by banks as a channel for
receiving instructions and also delivering their products and services to the customers.
This is generally referred to as Internet banking or I-banking or Net banking. This
is one of the newer form e-banking which is gaining popularity and its other popular
name is On-line banking.
EVOLUTION OF E-BANKING
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The story of technology in banking started with the use of punched card
machines like Accounting Machines or Ledger Posting Machines. The use of
technology, at that time, was limited to keeping books of the bank. It further developed
with the birth of online real time system and vast improvement in telecommunications
during late1970s and 1980s.it resulted in a revolution in the field of banking with
convenience banking as a buzzword. Through Convenience banking, the bank is
carried to the doorstep of the customer. The 1990s saw the birth of distributed
computing technologies and Relational Data Base Management System. The banking
industry was simply waiting for these technologies. Now with distribution
technologies, one could configure dedicated machines called front-end machines for
customer service and risk control while communication in the batch mode without
hampering the response time on the front-end machine. Intense competition has forced
banks to rethink the way they operated their business. They had to reinvent and
improve their products and services to make them more beneficial and cost effective.
Technology in the form of E-banking has made it possible to find alternate banking
practices at lower costs. More and more people are using electronic banking products
and services because large section of the banks future customer base will be made up
of computer literate customer, the banks must be able to offer these customer products
and services that allow them to do their banking by electronic means. If they fail to do
this will, simply, not survive. New products and services are emerging that are set to
change the way we look at money and the monetary system.
REQUIREMENTS FOR MAKING ONLINE BANKING

SUCCESSFUL
Higher rate on deposits.

24 hours access.
Free bill payments and rebates on ATM surcharges.
Credit card with low interest rates.
Innovative products and high quality of services.
THE BASSLE COMMITTEES ELECTRONIC BANKING

GROUP
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The Bassle Committee on banking supervision has taken note of these issues.
In 1999, it constituted Electronic Banking Group (EBG) a group having representation
of 17 central banks. The task for the group has been to develop risk management
guidance for internet banking. It has identified fourteen Risk Management Principles
for sound risk management in E-banking:
1) Effective management oversight of e-banking activities.
2) Establishment of a comprehensive security control process.
3) Comprehensive due diligence and management oversight process for
4)
5)
6)
7)
outsourcing relationships and other third-party dependencies.

Authentication of e-banking customers.
Non repudiation and accountability for e-banking transactions.
Appropriate measures to ensure segregation of duties.
Proper authorization controls within e-banking systems, database and
applications.
8) Data integrity of e-banking transactions, records and information.
9) Establishment of clear audit trails for e-banking transactions.
10) Confidentiality of key bank information.
11) Appropriate disclosures for e-banking services.
12) Privacy of customers information.
13) Capacity, business continuity and contingency planning to ensure
availability of e-banking systems and services.
14) Incident response planning.
PRE E-BANKING SCENARIO IN INDIA

Traditional Banking
Traditionally the relationship between the bank and its customers has been on a
one-to-one level via the branch network. This was put into operation with clearing and
decision-making responsibilities concentrated at the individual bank level. The head
office has responsibility for the overall clearing network, the size of the branch
network and the training of staff in the branch network. The bank monitored the
organizations performance and set the decision-making parameters, but the
information available to both branch staff and their customers was limited to one
geographical location.
The Indian banks lag far behind the International banks in providing on-line
banking. In fact, this is not possible without creating sufficient infrastructure or
presence of sufficient number of users. Some of the reasons and problems being faced
are as follows:
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Although security options in e-banking are available, there is no certification of
the appropriate certification authority.

The available communication bandwidth available is not enough to meet
requirement.
Most of the banks lack uninterrupted power supply, which is essential for such
services.
The interact details for such services are one-sided, with banks enjoying
supremacy. This does not give confidence to the customers (ATM and telebanking get preference).
However, despite these hindrances, it is becoming popular and certain steps are
being undertaken to promote E-banking:

Department of tele-communication is making additional bandwidth available.
Steps have been initiated to appoint Certification authority.
As Chief Vigilance Commissioner is insisting on more computerization, and
credit Information Bureau is proposed to be set-up, this will help E-banking.
The RBI has put the real-time funds transfer through the Real Time Gross
settlement (RTGS) system in place. The access will be through only one
specified gateway. This will ensure rigorous access control.
Various levels of security are being ensured by RBI.
Dematerialization of share has made significant process; this will help Ebanking.
The RBI has set-up the group to examine various issues regarding I-banking
and technology. This will help in creating the right kind of infrastructure.
In fact certain things have already been initiated.
SERVICES OF E-BANKS
Internet banks offer a variety of features and perks, rushing to lure online
customers. E-banking attracts customers with convenience. The three broad facilities
that E-banking offers are:
a) Convenience
Complete your banking at your convenience, in the comfort of your home or at
any place you can access the Net.
b) No more Qs
There are no queues at an online bank.
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c) 24/7 services
Bank online 24 hours a day, 7 days a week and 52 weeks a year.
d) Online applications
Customers can begin their banking relationship with an online application. No
need to waste time driving to a local branch to begin a banking relationship. Customers
can fill out and submit electronically all necessary information needed to open a
checking, savings account or even a fixed deposit. When the application is submitted,
the bank will mail you a signature card for its records and request you to mail or wire
your initial funds.
e) Account Access
Internet banking customers now have the ability to view their accounts online,
including checking, savings, loans and credit cards. No need to wait for your monthly
statements or wait in queue for the next available customer service representative.
Account access enables customers to view most recent activity on accounts, including
cleared checks, deposits, ATM transactions and balances as of previous days activities.
Customers no longer have to hold on to the cleared checks, since their bank will store
for them online.
f) Account transfers
Internet banking customers have the ability to transfer funds to and from their
accounts online. With a simple online form, customers can move money from a
checking account to a savings account and vice-versa within the safety and
convenience of their home, without having to visit the ATM. Funds transferred online
are updated in less than three hours. In addition, customers can set-up recurring
transfers to accounts. A recurring transfer will take place on the customer specified
date, with a specified amount.
g) Bill Payment
Online bill payment enables customers to pay anyone, friends or family, as well
as pay their bills electronically. As an add on feature to Internet banking, bill payment
enables customers to spend paper checks to anyone or an electronic check to any
institution that accepts electronic bill payments. To use bill payment, customers are
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required to set up their payees online. Customers then have the ability to set up
recurring, automatic payments to a specific biller on a specified day or just a one-time
payment. Arrange payments three to five days, before the due date, to ensure timely
delivery. It is important to note that not all banks provide bill payment as a free feature.
BENEFITS OF PARTICIPATING ONLINE MERCHANTS

Following are some of the benefits of participating online merchants:
(a) 24/7 customer service

Although it is easy to yield to the temptation of allowing the Internet to replace
expensive branch personnel and overhead, many banks have found that a customer
service staff ready at any hour is well worth the expensive. This can be especially true
as customers transition to online banking and need help learning the features. Offering
telephone and e-mail contacts are a basic level of service. Offering live chat assistance
is the exceptional level.
(b) Access to old transactions

Choices made in designing the Internet interface may include how much
history will be available online. Some banks have chosen to show only 30-45 days,
while others offer a history of six months or a year.
(c) Categorize transactions and produce reports

Functionality is a king as online banking customers using these features enjoy a
Web interface that delivers the utility of a money management software application.
(d) Export your banking data

Most banks offering the management interface also allow easy downloading of
financial information into files that can be imported into Microsoft Money and Intuits
Quicken.
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(e) Interactive guides and tools to help selection of proper product

Although online, interactive guides through a banks products, adds complexity
to the programming it also serves the bank by assisting potential customers in choosing
new products or services. Interactive Tools to design a savings plan, choose a
mortgage, obtain online insurance quotes all tied to applications. These tools help
remove some of the mystery involved in so many account options and costs.
(f) Loan status and credit card account information

Bank customers are familiar with reviewing their checking account
information, but many banks are adding the ability to look at ones loan status and
credit card information as well. Access to as many accounts held at the bank seems to
be the goal.
(g) View digital copies of checks

This again, is removing a down side to online banking. It makes images of
checks available as replacement for sending out cancelled checks or sheets of printed
check images.
(h) Online forms for ordering checks, stop payments, etc

Convenience is popular and if a customer visits his or her online account
frequently it only makes sense to allow the ability to reorder checks or perform certain
commands through the same interface.
These features and many others help customers save time, simplify their lives
and provide greater value than conventional banking.
E-BANKING PRODUCTS
1. AUTOMATED TELLER MACHINE (ATM):
These are cash dispensing machine, which are frequently seen at banks and
other locations such as shopping centers and building societies. Their main purpose is
to allow customer to draw cash at any time and to provide banking services where it
would not have been viable to open another branch e.g. on university campus. An
automated teller machine or automatic teller machine (ATM) is a computerized
telecommunications device that provides a financial institution's customers a method
of financial\ transactions in a public space without the need for a human clerk or bank
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teller. On most modern ATMs, the customer identifies him or herself by inserting a
plastic ATM card with a magnetic stripe or a plastic smartcard with a chip that contains
his or her card number and some security information, such as an expiration date or
CVC (CVV). Security is provided by the customer entering a personal identification
number (PIN).Using an ATM, customers can access their bank accounts in order to
make cash withdrawals (or credit card cash advances) and check their account
balances. Many ATMs also allow people to deposit cash or checks, transfer money
between their bank accounts, pay bills, or purchase goods and services. Some of the
advantages of ATM to customers are: Ability to draw cash after normal banking hours
Quicker than normal cashier service
Complete security as only the card holder knows the PIN
Does not just operate as a medium of obtaining cash.
Customer can sometimes use the services of other bank ATMs.
2. TELE BANKING OR PHONE BANKING:

Telephone banking is relatively new Electronic Banking Product. However it is
fastly becoming one of the most popular products. Customer can perform a number of
transactions from the convenience of their own home or office; in fact from anywhere
they have access to phone. Customers can do following:i. Check balances and statement information.
ii. Transfer funds from one account to another.
iii.
Pay certain bills.
iv. Order statements or cheque books.
v. Demand draft request.
3. MOBILE BANKING:
Mobile banking comes in as a part of the banks initiative to offer multiple
channels banking providing convenience for its customer. A versatile multifunctional,
free service that is accessible and viewable on the monitor of mobile phone. Mobile
phones are playing great role in Indian banking- both directly and indirectly. They are
being used both as banking and other channels.
4. INTERNET BANKING:
The advent of the Internet and the popularity of personal computers presented
both an opportunity and a challenge for the banking industry. For years, financial
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institutions have used powerful computer networks to automate millions of daily

transactions; today, often the only paper record is the customers receipt at the point of
sale. Now that their customers are connected to the Internet via personal computers,
banks envision similar advantages by adopting those same internal electronic processes
to home use. Banks view online banking as a powerful value added tool to attract
and retain new customers while helping to eliminate costly paper handling and teller
interactions in an increasingly competitive banking environment. In India first one to
move into this area was ICICI Bank. They started web based banking as early as
august 1997.
TYPES OF INTERNET BANKING OR E-BANKING

i.
INFORMATIONAL
This is the basic level of Internet banking. Typically, the bank has marketing
information about the banks products and services on a stand-alone server. The risk is
relatively low, as informational systems typically have no path between the server and
the banks internal network.
ii.
COMMUNICATIVE
This type of Internet banking systems and the customer. The interaction
between the banks system and the customer. The interaction maybe limited to
electronic mail, account enquiry, loan applications, or static file updates (name and
address change). Because these servers may have a path to the banks internal
networks, the risk is higher with this configuration than with informational systems.
iii.
TRANSACTIONAL
This level of Internet banking allows customers to execute transactions. Since a
path typically exists between the server and the bank or outsourcers internal network,
this is the highest risk architecture and must have the strongest controls. Customer
transactions can include accessing accounts, paying bills, transferring funds etc.
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ADVANTAGES OF E-BANKING
Convenience
Unlike your corner bank, online banking sites never close; theyre available 24
hours a day, seven days a week, and theyre only a mouse click away. With
pressures on time and longer travelling periods, more and more people find it
tiresome waiting in queues.
Ubiquity
If youre 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 alert and portfolio managing program to help you
manage all of your assets more effectively. Most are also compatible with money
managing programs such as quicken and Microsoft money.
Cheaper alternative
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With increasing competition, it seems to be the cost factor that is driving banks
to offer the facility. The Internet is still a very cheap alternative to opening a
physical branch, and most of the push seems to be coming from the supply side.
The costs of a banking service through the Internet form a fraction of costs through
conventional methods.
DISADVANTAGES OF E-BANKING
Start-up may take time
In order to register for your banks 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 their 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 curves
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.
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E-Commerce
Conducting Business through
electronic networks
E-Finance
E-Money
Providing financial services

through electronic channels
Stored value or prepaid

payment mechanism
E-Banking
Other financial services and

products
Providing banking products

and services through
electronic delivery channel
Insurance, online brokering

etc.
Internet banking
Telephone banking
Other electronic
delivery channels
Fig: Diagram of E-Banking System
CHAPTER- 2
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RESEARCH DESIGN
RESEARCH DESIGN
Research design is a formal plan of action for a research project. Research
design help researchers to layout their research questions, methodologies,
implementation, procedures and data collection and analysis for the conduct of a
research project. Generally there are three types of research design quantitative design,
qualitative design and mixed methods design. Research design is a decision making
process. During the decision making process, the researcher should choose from many
design alternatives and consider over the trade-offs of each approach and decide the
best possible solution. Generally speaking, the research design decisions are influenced
by the questions the investigator is trying to answer, by the resource such time, trained
personnel and money that the researcher have at hand, by the characteristics of the
research sites, and also by the researchers personal preferences.
A research is a logical and a systematic plan prepared for directing a research
study. It specifies the objectives of the study, methodology and technique to be adopted
for achieving the objective. It constraints the blue print for the collection, measurement
and analysis of the data.
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A research design is the arrangement of condition for collection and analysis of

data in a manner that aims to combine relevance to the research purpose with economy
in procedure.
TITLE OF THE STUDY

The study is titled as An Analytical study on E-banking Services at The
Janatha Co-operative Bank Limited.
STATEMENT OF THE PROBLEM

Though Bangalore has surpassed the silicon valley of USA in Software Exports
and technological innovations, the level of Internet users in the city is substantially
low. There seems to be a digital divide between the computer literates and the others.
Though the citizens for checking mail, browsing, chatting etc. use Internet it is not
used for banking transactions large scale. The study is conducted to analyze the usage
of Internet for banking purpose. The study is conducted to highlight the reasons for
customers preference to Internet banking and measure their satisfaction level.
NEED AND SIGNIFICANCE OF THE STUDY

To understand the profile of the customers availing Internet banking facility.
To understand the attitude of the users making banking transactions through the
net.
To understand the Internet usage pattern and preferences of the customers with
regard to frequency, place and banks.
To understand the attitude of the users towards Internet banking contents.
To analyze the gap between the perceptions of banks offering Internet services and
the customers availing the facility.
OBJECTIVES OF THE STUDY

To know about the awareness of E-banking among the banking customers.
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To know the problems faced by the customers while doing their transactions
through E-banking.
To analyze the reasons for non- usage.

To give a few suggestions to the bank about their E-banking promotional
activities.
To fill in the gaps, which exist between the services expected by the customers
and the services offered by the bank.
REVIEW OF LITERATURE
Purpose
The review of literature is done to find out the previous literatures and write
ups done on E-banking. The review was made to find out the advantages and
disadvantages of E-banking. The customer base, technological adaptability etc. the past
literatures and articles have benefited the researcher in having a birds eye view of the
subject.
Methodology
The past researchers and writers have used the Internet as their prime tool for
collecting the information about the Internet banking usages. While conducting the
research structured questionnaire method was used. The prime reason for this is that a
very few reliable literatures are available on this particular concept. Some of the
banking journals carry regular articles on online banking, which is based on a customer
survey.
The previous studies conducted were conducted in one particular city with a
sample size of 100. The researcher also adopts the same methodology.
Abstract
In India few studies have been conducted on the current status of Internet
banking. Thus only few literatures are available on this subject in India. Therefore this
report reflects the current status of Internet banking by Indian private, public and
foreign banks operating in India.
For instance, Unnithan (2001) studied the drivers for change in the evolution of
the banking sector, and the move towards electronic banking by focusing on two
economies: Australia and India. The paper found that Australia is a country with
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Internet ready infrastructure as far as telecommunication, secure protocols, PC

penetration and consumers literacy is concerned. India by comparison, is
overwhelmed by weak infrastructure, low penetration, developing security protocols
and consumer reluctance in rural sector. Although many major banks have started
offering Internet banking services, the slow pace will continue until the critical mass is
achieved for PC, Internet connections and telephones. However, the upsurge of IT
professionals with growing demands is pressuring the government and bureaucracy in
the country to support and develop new initiatives for a faster spread of Internet
banking.
Gupta (2002) found that Internet banking is fast becoming popular in India.
However, it is still in its evolutionary stage. By the year 2005, a large sophisticated and
highly competitive Internet banking market will develop. Almost all the banks
operating in India are having their websites but only a few banks provide transactional
Internet banking.
Rao (2003) provided a theoretical analysis of Internet banking in India and
found that as compared to banks abroad, Indian banks offering online services still
have a long way to go. For online banking to reach a critical mass, there has to be
sufficient number of users and the sufficient infrastructure in place.
Agarwal (2003) explored the role of e-banking in e-democracy. With the
development of synchronous technologies and secured electronic transaction
technologies, more banks and departments were using Internet for transactional and
information medium.
Dayananda (2007) studied the customer preference towards Internet banking
and found that Internet banking perceived as a luxurious way of banking used
primarily by the high income group. The Income level and occupation were the key
parameters for deciding the usage level of Internet banking. He also found that, there is
a significant difference between the satisfaction level of the customers and the type of
the bank they transact with.
SCOPE OF THE STUDY

The study aims to identify the customer preference towards E-banking services
provided by The Janatha Co-operative Bank. The study is done based on the survey
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method where a set of questionnaire is prepared about the particular topic and that is
given to the respondent who are using E-banking services of their respective banks. It
is the survey method which is conducted to know the problems regarding E-banking
services from the respondents.
RESEARCH METHODOLOGY
A research methodology is a way to systematically solve research problem.
Descriptive method of research was carried out to conduct this project. Descriptive
research includes surveys and facts. Finding solution to the problem and its main
objective of the study is to find out what, who, when and how the topic is covered.
The study may be simple or complex. It may be done in many ways. The
simplest descriptive study concerns a unvaried question and hypothesis in which we
ask about size, form, distribution or existence of variable.
SAMPLE DESIGN
It is a definite plan for obtaining sample from a given population. It refers to
the technique or the procedure. The researcher would adopt in selecting items for the
sample. Sample design may be as well as lay down the number of items to be included
in the sample i.e. the size of sample. The sample design is determined before the data
are collected.
SAMPLE TECHNIQUE
Sample is the fraction of the population. Sampling is a technique or a method
of selection of samples. The technique in carrying out this research is Simple Random
Sampling technique. Random sampling is a good technique where there are
comprehensive lists available in the target population.
Random sampling method refers to the technique in which each and every
individual from huge population is taken into consideration and is given an equal
chance of being included in the sample method.
SAMPLE SIZE
It refers to the number of elements to be included in the study. An important
decision that has to be taken while adopting sampling techniques is sample method. In
this study the size of respondents was decided to be 50.
SOURCES OF DATA
The data is gathered from two sources. They are:

Primary data.
Secondary data.
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1) Primary data
Information collected specifically for the purpose of the investigation, as on
one hand is known as primary data or raw data. These are not readily available. The
primary data is collected through questionnaires, surveys, interviews by the
respondents. This research work mainly depends on questionnaire.
2) Secondary data
Secondary data refers to the data which have already been collected and
analyzed by someone else. Secondary data includes data for the study and includes
appropriate materials from newspapers, magazines, journals, bank websites, text
books, phonic conversations with respondents and information from the internet has
also been acquired wherever necessary.
TOOLS/TECHNIQUES OF DATA COLLECTION

Primary data: It is collected through questionnaires and through surveys and
personal interviews.
Secondary data: It is collected through internet and some information in text
books, magazines etc.
PLAN OF ANALYSIS AND INTERPRETATION

The data collected was edited (only minor errors were called for in removing
some conflicts in answers as well as correcting spelling mistakes of websites). Each
response was numbered. The data was coded. The data thus code was entered in the
MS-Excel package. Most of the analysis of data was done using MS-Excel package.
The analysis included bar chart and pie chart. It is done to understand the format and to
analyze in an easy way.
OPERATIONAL DEFINITION OF THE CONCEPTS

Automated teller machines
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These are computer-controlled terminals located in premises of the bank or

elsewhere, through which customers can make deposits, withdrawals or other
transactions as they would through a bank teller.
E-mail
Messages, usually text, sent from one person to another via computer. E-mail
can also be sent automatically to a large number of addresses.
Internet
The vast collection of inter-connected networks that are connected using the
TCP/IP protocols that are evolved from ARPANET of the late 60s and early 70s.
The Internet connects tens of thousands of independent networks into the vast
global Internet and is probably the largest wide area network in the world.
Network
Any time two or more computers are connected together so that they can share
resources, this constitutes a network. Connecting two or more networks together
constitutes Internet.
Search Engine
A web based system used for searching the information available on the web.
Some search engines work by automatically searching the contents of the other
systems and creating a data base of the results. Other search engines contain only
material manually approved for inclusion in the database, and some combine the two
approaches.
WWW (World Wide Web)

World Wide Web (or simply the web for short) is a term frequently used
(incorrectly) when referring to the internet.
WWW has two meanings
Firstly, loosely used whole constellation of resources that can be accessed using
the Gopher, FTP, HTTP, TELNET, USENET, WAIS and some other tools.
Second, the universe of hypertext servers (HTTP) servers, more commonly
called web servers, which are the servers that serve web pages to web browsers.
Virus
A chunk of computer programming code that makes copies of itself without
any conscious human intentions. Some viruses do more than simply replicate
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themselves, they might display messages, install other software or files, delete
software or files, etc.
A virus requires the presence of some other program to replicate itself.
Typically, viruses spread by attaching themselves to programs and in some cases files.
Server
A computer or software package, that provides a specific kind of service to
client software running on other computers. The term can refer to a particular piece of
software, such as a www server, or the machine on which the software is running.
LIMITATIONS OF THE STUDY

1. The study is confined to only one company.
2. Due to the limited time in-depth study could not be made.
3. Some of the respondents were not willing to give all information regarding their
internet banking practice.
4. The sample size is small; hence the result cannot be generalized.
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CHAPTER SCHEME
The entire study is presented in the form of a project under the following
chapter scheme. A brief description of these chapters has been given below.
1. INTRODUCTION
This chapter includes the theoretical background or conceptual frame work of
financial institutions. It also includes the meaning, importance and other relevant
aspects of E-banking.
2. RESEARCH DESIGN
This chapter includes the title of the study, statement of the problem, objective
of the study, scope of the study, review of literature, research methodology, data
collection method, sample design, sample technique, sample size, tools and techniques
of data analysis, operational definition of the concepts of E-banking and limitations of
the study.
3. BANK PROFILE
This chapter gives the complete information about The Janatha Co-operative
Bank. Its origin, vision and mission statement, management and services offered by
the bank.
4. DATA ANALYSIS AND INTERPRETATION

In this chapter an attempt has been made to analyze and interpret the data
collected through a survey conducted using a pre-tested questionnaire. Statistical tools
such as averages, percentages, charts, diagrams, tables are used to analyze and present
the data in a more meaningful and effective manner.
5. SUMMARY OF FINDINGS, CONCLUSIONS AND

SUGGESTIONS
In this chapter the major findings of the study are summarized, conclusions are
drawn on various issues considered on this study and important suggestions for the
effective utilization of Internet banking services.
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CHAPTER- 3
BANK PROFILE
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BANK PROFILE
HISTORY
The Janatha Co-operative Bank was started in 1964 with few members, with 4
branches in the state serving depositors and account holders. Bank also started with 2
more branches under expansion scheme.
Banking sector is under tremendous pressure to perform well due to immense
competition from various domestic and foreign banks. Profitability is one of the means
by which performance is measured. It also showcases banks strengths and weakness.
Mr. Nanjappa Reddy and other 9 promoters are the founders of the bank. The
objectives of the founders were to promote banking habit, entrepreneurs among all
sections and class of people. Over the years, the bank has grown from strength to
strength and successfully withstood the challenges of economic depression and other
stiff circumstances of the country.
The bank has 4 branches in Bangalore (with 2 more starting this financial year).
The bank is formed on co-operative principles, where in they are service oriented than
the profits. The bank is providing loans at low interest rates and easy EMIs to
economically weaker sections like sole proprietors, small firms, shop keepers etc.
MANAGEMENT
Today the bank is leaving up to its founders reputation as the service oriented
bank. The management includes dedicated professionals who bring in considerable
amount of experience in banking industry. Currently bank has 13 BOD (Board of
Directors) and 3 Nominal Directors.
VISION
The main vision of the bank is to improve the social status of poor people and
to serve the weaker sections of the society.
MISSION
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1.
2.
3.
The missions of the bank are:

Expansion of geographical area of operation.
Increase number of branches and start branches in rural areas.
Serving weaker sections and poor people by providing different easy scheme of
4.
loans with easy EMIs.

Adoption and installation of modern techniques like computerization and
5.
6.
ATMs etc.
Introduction of mobile banking.
Innovation schemes of investments to increase public deposits.
SERVICES
When the bank commenced operations in 1964, service was primarily focused
on growth and development of the urban sector. Today, a variety of specialized banking
services are offered through various branches.
DOMESTIC OFFERINGS
Janatha co-operative bank offers an array of customers friendly deposit and
credit schemes. This scheme has been decided after careful understanding of the
customer requirements.
LIST OF BOARD OF DIRECTORS (BODs)

1) Mr. K. Puttaswamy (President).
2) Mr. M.S. Vijay Sarathi.
3) Mr. C.L. Marigowda.
4) Mr. Rudhregowda.
5) Mr. Jayarame Gowda.
6) Mr. L. Gangadhar.
7) Mr. C. G. Vijay Kumar.
8) Mr. Aravind.
9) Mr. B.H. Narasimaiah.
10) Mr. L. Govind.
11) Mr. P.S. Ramesh.
12) Dr. A. Kallappa.
13) Smt. S.V. Vijaylakshmi.
14) Mr. D. Chikkanna Gowda.
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15) Mr. Seetharamu.

16) Mr. G. Nagaraju.
CHAPTER- 4
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DATA ANALYSIS AND

INTERPRETATION
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DATA ANALYSIS AND INTERPRETATION

Table 4.1: GENDER WISE CLASSIFICATIONS OF
RESPONDENTS
GENDER
NUMBER OF
PERCENTAGE
RESPONDENTS
MALE
30
60%
FEMALE
20
40%
TOTAL
50
100%
ANALYSIS
The female users represent 20% of the sample size while 30% of the users are
men.
Fig: GENDER WISE CLASSIFICATION OF RESPONDENTS
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40%
60%
MALE
FEMALE
INTERPRETATION
Majority of the internet banking customers are men and a majority of women
are yet to adapt this technology.
Table 4.2: AGE WISE CLASSIFICATION OF RESPONDENTS
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AGE OF THE
NUMBER OF
PERCENTAGE
RESPONDENTS
RESPONDENTS
20 - 30
28
56%
30 - 40
12
24%
40 - 50
06
12%
50 AND ABOVE
04
8%
TOTAL
50
100%
ANALYSIS
The survey shows that the maximum users of internet banking fall between the
age group of 20-30 with 56%, followed by the 30-40 age group constituting of 24% of
the sample size, 40-50 age groups with 12% and the least users are the respondents
who have crossed the age of 50 with only 8% using it.
Fig: AGE WISE CLASSIFICATION OF RESPONDENTS
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8%
12%
56%
24%
20-30
30-40
40-50
50 & above
INTERPRETATION
The innovation does not seem to be popular among the above-50 age group i.e.
only 8% representing the sample size.
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Table 4.3: EDUCATION WISE CLASSIFICATION

EDUCATIONAL
NUMBER OF
QUALIFICATION
RESPONDENTS
PERCENTAGE
POST-GRADUATES
20
40%
GRADUATES
15
30%
DIPLOMA HOLDERS
10
20%
OTHERS
10%
TOTAL
50
100%
ANALYSIS
The survey indicates that the majority of the Internet banking users i.e. 70% is
post graduates and graduates. Graduates form 30% of the sample size and post
graduates form 40%.
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Fig: EDUCATION WISE CLASSIFICATION
45%
40%
35%
30%
25%
20%
40%
15%
30%
10%
20%
5%
10%
0%
POST GRADUATES
GRADUATES
DIPLOMA HOLDERS
OTHERS
INTERPRETATION
This indicates that the Internet banking is still a facility, which is used only by
the educated cadre of the society and is yet to reach the less-educated section.
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Table 4.4: OCCUPATION WISE CLASSIFICATION

OCCUPATION
NUMBER OF
PERCENTAGE
RESPONDENTS
SELF-EMPLOYED
06
12%
SALARIED
36
72%
HOUSE WIFE
04
8%
STUDENT
03
6%
OTHERS
01
2%
TOTAL
50
100%
ANALYSIS
The largest category of the users is the salaried class who form a substantial
part of the sample size i.e. 72%, the next category is the self-employed i.e. 12% and
the least being are the housewives, students and others.
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Fig: OCCUPATION WISE CLASSIFICATION

80%
72%
70%
60%
50%
40%
30%
20%
12%
8%
10%
6%
2%
0%
SELF EMPLOYED
SALARIED
HOUSE WIFE
STUDENT
OTHERS
INTERPRETATION
From the above figure we can observe that majority of the users of internet
banking are the salaried class and the least being the housewives, students and others.
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Table 4.5: SECTOR WISE CLASSIFICATION OF SALARIED

RESPONDENTS
NUMBER OF
SECTOR
RESPONDENTS
PERCENTAGE
PUBLIC SECTOR
22%
PRIVATE SECTOR
28
78%
TOTAL
36
100%
ANALYSIS
The graph is a glaring indicator of the usage pattern. Out of the 36 salaried
employees, 28 of them are private sector employees, while the public sector employees
constituted only 8.
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Fig:
SECTOR
WISE
CLASSIFICATION
OF
SALARIED
RESPONDENTS
78%
PRIVATE SECTOR
22%
PUBLIC SECTOR
0%
10%
20%
30%
40%
50%
60%
70%
80%
INTERPRETATION
This proves that the private sector employees have a upper hand in responding
to this radical change and 8 of employees representing the sample size is significant
and negligible.
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Table 4.6: INCOME WISE CLASSIFICATION OF RESPONDENTS

INCOME
NUMBER OF
PERCENTAGE
RESPONDENTS
<5000
>5000 & <10000
08
16%
>10000 & <15000
10
20%
>15000 & <20000
12
24%
>20000
20
40%
TOTAL
50
100%
ANALYSIS
People who have a monthly income of more than 20,000 still dominate in the
usage level of the internet banking, the above forming 20% of the sample size. They
are followed by the next income level i.e. 15000-20000 per month (12%). The usage
level in the next series are as follows: 10000-15000 (10%), 5000-10000 (8%) and
below 5000 cadre who do not represent the sample size.
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Fig: INCOME WISE CLASSIFICATION OF RESPONDENTS

100%
90%
80%
70%
60%
8%
50%
10%
12%
20%
40%
30%
20%
10%
0%
0%
INTERPRETATION
The internet seems to be popular among the cream of the society i.e. people
with a monthly income of 20000 and above. The middle class customer still prefers the
traditional banking method. It would not be out of place to mention this analogy in this
context.
Higher the income more is the usage of internet banking and vice-versa.
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Table 4.7: RESPONDENTS AWARENESS TOWARDS E-BANKING

SERVICES
PROVIDED
BY
THEIR
BANKING
INSTITUTIONS
AWARENESS
NUMBER OF
PERCENTAGE
RESPONDENTS
YES
40
80%
NO
10
20%
TOTAL
50
100%
ANALYSIS
From the above figure it is analyzed that out of 50 respondents, 80%
respondents are aware of E-Banking services provided by their Banking Institutions
and 20% respondents are not aware of E-Banking services provided by their Banking
Institutions.
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Fig:
RESPONDENTS AWARENESS TOWARDS

SERVICES
PROVIDED
BY
THEIR
E-BANKING
BANKING
INSTITUTIONS
80%
80%
70%
60%
50%
40%
20%
30%
20%
10%
0%
YES
NO
INTERPRETATION
From the above figure it is interpreted that majority of the respondents are
aware of E-Banking services and only 20% of the respondents are not aware of EBanking services provided by their banking institutions.
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Table 4.8: FREQUENCY OF USAGE OF INTERNET BANKING

FREQUENCY OF
NUMBER OF
USAGE
RESPONDENTS
PERCENTAGE
DAILY
04
8%
WEEKLY
14
28%
MONTHLY
10
20%
AS & WHEN REQUIRED
22
44%
TOTAL
50
100%
ANALYSIS
The customers who use internet banking on a regular basis are very few i.e.
hardly 8%. But the weekly and monthly users form a significant part of the group by
having a share of 28% and 20% respectively. But the remaining respondents use the
net only when the need arises.
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Fig: FREQUENCY OF USAGE OF INTERNET BANKING

44%
45%
40%
35%
28%
30%
20%
25%
20%
15%
8%
10%
5%
0%
DAILY
WEEKLY
MONTHLY AS & WHEN REQUIRED
INTERPRETATION
The analysis very clearly indicates that still a substantial percentage (44%) of
customers who have internet banking use it only when required. They need to be
brought into the main stream by their respective bankers.
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Table 4.9: PURPOSE OF USING INTERNET BANKING

NUMBER OF
PURPOSE OF USAGE
RESPONDENTS
PERCENTAGE
10
20%
ACCOUNTS
17
34%
TICKET BOOKING
15
30%
OTHERS
08
16%
TOTAL
50
100%
CHECKING THE BANK

BALANCE
OPERATE BETWEEN
ANALYSIS
34% of the respondents use internet banking to operate between accounts, 30%
of the users book tickets online, 20% of them use for checking the bank balance and
16% use it for other purposes.
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Fig: PURPOSE OF USING INTERNET BANKING
16%
30%
20%
CHECKING THE BANK

BALANCE
OPERATE BETWEEN
ACCOUNTS
34%
TICKET BOOKING
OTHERS
INTERPRETATION
Majority of the customers (34%) use internet banking to operate between the
accounts. This is a positive sign for the banker because he can increase the customer
data base by promoting their online and also through positive word-of-mouth.
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Table 4.10: RESPONDENTS PREFERENCES TOWARDS EBANKING
OR
TRADITIONAL
BANKING
PRACTICE
NUMBER OF
PREFERENCE
RESPONDENTS
PERCENTAGE
E-BANKING SERVICES
46
92%
TRADITIONAL
04
8%
50
100%
BANKING PRACTICE
TOTAL
ANALYSIS
From the above figure we can observe that out of 50 respondents, 92% of
respondents are using E-banking services and 8% of respondents are using Traditional
banking practices.
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Fig: RESPONDENTS PREFERENCES TOWARDS E-BANKING

OR TRADITIONAL BANKING PRACTICE
100%
90% 92%
80%
70%
60%
50%
40%
30%
20%
10%
0%
E-BANKING SERVICES
8%
TRADITIONAL BANKING PRACTICE
INTERPRETATION
From the above survey it is interpreted that majority of the respondents are
using E-banking services and only 8% of the respondents are under the practice of
traditional banking.
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Table 4.11: RESPONDENTS REASONS FOR THE USAGE OF EBANKING SERVICES

NUMBER OF
REASONS FOR USAGE
RESPONDENTS
PERCENTAGE
CONVENIENT
42
84%
SAFETY
06
12%
LESS EXPENSIVE
02
4%
TOTAL
50
100%
ANALYSIS
From the above table we can observe that out of 50 respondents, 42
respondents use E-banking services for convenient purpose, 6 respondents use Ebanking services for safety purpose and 2 respondents use E-banking services for less
expensive.
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Fig: RESPONDENTS REASONS FOR THE USAGE OF EBANKING SERVICES
LESS EXPENSIVE 4%
SAFETY
12%
CONVENIENT
0%
84%
10%
20%
30%
40%
50%
60%
70%
80%
90%
INTERPRETATION
Majority of the respondents i.e. 82% of the sample size are convenient of the
usage of E-banking services. While 12% of them feel that it is safe to use E-banking
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services and 4% of the respondents feel that the usage of E-banking services is less
expensive.
Table
4.12:
RESPONDENTS
PREFERENCE
TOWARDS
AUTHENTICATION (VERIFICATION)
AUTHENTICATION
NUMBER OF
(VERIFICATION)
RESPONDENTS
PERCENTAGE
SECURITY DEVICE
26
52%
SMS TEXT PASSWORD
18
36%
E-CERTIFICATE
06
12%
TOTAL
50
100%
ANALYSIS
From the above figure we can observe that out of 50 respondents, 52%
respondents prefer security device for using E-banking services, 36% respondents
prefer SMS Text Password for using E-banking services, and 12% respondents prefer
E-certificate for using E-banking services.
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Fig:
RESPONDENTS
PREFERENCES
TOWARDS
AUTHENTICATION (VERIFICATION)
12%
SECURITY DEVICE
52%
36%
INTERPRETATION
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E-CERTIFICATE

Bank
Out of 50 respondents, 26 respondents prefer security device for using Ebanking services, 18 of them prefer SMS Text Password and 6 respondents prefer Ecertificate for using E-banking services.
Table 4.13: USE OF INTERNET BANKING WHILE ON TOUR

INTERNET BANKING
NUMBER OF
WHILE ON TOUR
RESPONDENTS
PERCENTAGE
MOST OF THE TIMES
20
40%
QUITE OFTEN
14
28%
RARELY
10
20%
NEVER
12%
TOTAL
50
100%
ANALYSIS
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It is evident from the table that 20 out of 50 respondents use net banking most
of the times while on tour. That forms about 40% of the frequently touring customers.
14 of the respondents availed net facility quite often. The people who rarely used net
banking while on tour were 10 out of 50. 6 of the respondents never used net banking
outside their hometowns.
Fig: USE OF INTERNET BANKING WHILE ON TOUR
40%
35%
30%
25%
40%
20%
28%
15%
20%
10%
12%
5%
0%
MOST OF THE TIMES QUITE OFTEN
RARELY
INTERPRETATION
Page 62
NEVER

Bank
A majority of the customers use net banking while on tour because they feel
that it is convenient to access it from anywhere, anytime and any amount. The banker
need not have a physical branch in many places, as the banking requirements of the
customers, who visit the place, would be met through the Internet.
Table 4.14: DIFFICULTIES ENCOUNTERED WHILE USING

INTERNET BANKING
NUMBER OF
PROBLEMS
RESPONDENTS
PERCENTAGE
HOST NOT WORKING
10
20%
SLOW ACCESSIBILITY
10%
TIME CONSUMING
15
30%
NONE
20
40%
TOTAL
50
100%
ANALYSIS
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A majority of the customers had no complaints about the internet facilities of

the corresponding banks (40%). But a few of the customers complained about the nonworking of the host (20%), slow accessibility during peak hours (10%) and time
consuming (30%).
Fig: DIFFICULTIES ENCOUNTERED WHILE USING INTERNET

BANKING
20%
40%
HOST NOT WORKING

10%
SLOW ACCESSIBILITY
TIME CONSUMING
NONE
30%
INTERPRETATION
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Bank
Customers using the Internet banking had no problem with the technical
services. But a segment of the customers have encountered minor problems while
using the same.
Table 4.15: SAFETY OF INTERNET BANKING

SAFETY OF
NUMBER OF
INTERNET BANKING
RESPONDENTS
PERCENTAGE
12
24%
EXTENT
25
50%
MODERATELY SAFE
10
20%
NOT AT ALL SAFE
6%
50
100%
ABSOLUTELY SAFE
AND SECURE
SAFE TO A LARGE
TOTAL
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ANALYSIS
During the survey, the respondents were asked to state their viewpoint about
the safety of the Internet banking. 50% of them stated it was safe to a large extent, 24%
stated it was absolutely safe and secure, customers who said it was moderately safe and
not at all safe formed 20% and 6% of the sample size.
Fig: SAFETY OF INTERNET BANKING
NOT AT ALL SAFE
6%
MODERATELY SAFE
20%
50%
SAFE TO A LARGE EXTENT
ABSOLUTELY SAFE AND SECURE
24%
0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50%
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INTERPRETATION
This is a clear indication that a majority of customers do not have any fear
attributed to the technical feasibility and safety concerns of Internet banking. Though
cases of hacking have been reported it is always few and far between. The customers
still trust the bankers technology of E-banking.
Table 4.16: CHARGES MADE BY THE BANKS FOR E-BANKING

SERVICES
NUMBER OF
BANK CHARGES
RESPONDENTS
PERCENTAGE
YES
16%
NO
42
84%
TOTAL
50
100%
ANALYSIS
From the above table we can observe that out of 50 respondents, 8 respondents
say that, the bank charge for E-banking services and 42 respondents say that, the bank
do not charge for E-banking services.
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Fig: CHARGES MADE BY THE BANKS FOR E-BANKING

SERVICES
90%
80%
70%
60%
84%
50%
40%
30%
20%
16%
10%
0%
YES
NO
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Bank
INTERPRETATION
From the above figure it is interpreted that majority of the banks do not charge
for E-banking services.
Table 4.17: TRY TO GET THE DETAILS OF OTHER PRODUCTS

AND SERVICES OFFERED BY THE BANK WHILE
USING THE INTERNET FACILITY
TRY TO GET DETAILS OF
NUMBER OF
OTHER PRODUCTS AND
RESPONDENTS
PERCENTAGE
YES
35
70%
NO
15
30%
TOTAL
50
100%
SERVICES
ANALYSIS
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Bank
70% of the respondents covered in the survey try to get the details of other
products and services of the bank while using Internet facility. 30% of them are not
eager to look at the Spam mails or other homepages of the bank.
Fig: TRY TO GET THE DETAILS OF OTHER PRODUCTS AND

SERVICES OFFERED BY THE BANK WHILE USING
INTERNET FACILITY
70%
70%
60%
50%
40%
30%
30%
20%
10%
0%
YES
NO
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Bank
INTERPRETATION
A majority of the customers are eager to learn about the new products and
services offered by the bank. The fact remains that the customer could be looking out
for an investment option in the same bank.
Table 4.18: REASONS FOR NON-EXTENSIVE USAGE

REASONS FOR NON-
NUMBER OF
EXTENSIVE USAGE
RESPONDENTS
PERCENTAGE
10
20%
20
40%
14
28%
E-BANKING
12%
TOTAL
50
100%
NON-ACCESS TO
INTERNET
SECURITY CONCERNS
PREFER TRADITIONAL
BANKING/ ATM
NOT FULLY AWARE OF
ANALYSIS
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The 50 respondents who mentioned that they used Internet banking only when
required were asked an additional query as to state the reasons for this. The highest
number of respondents (20) was worried about the security. 14 of the respondents
preferred traditional banking or ATM, 10 of them said the internet was not frequently
accessible to them either in home or in the office and 6 of them said they were not fully
aware of the concepts of E-banking.
Fig: REASONS FOR NON-EXTENSIVE USAGE

40%
35%
30%
25%
20% 20%
15%
10%
5%
0%
40%
28%
12%
INTERPRETATION
The biggest concern for the users seems to be security. The users fear that in
case they operate via Internet banking frequently and transacts large amount of money
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through the net could be hacked by another person. The next reason for non-extensive
usage was that people still liked to frequent the bank or move to their nearest ATM
counters. The banks ATM in a way acts as a complement to Internet banking.
Table 4.19: PROBLEM SOLVING IN CASE OF TECHNICAL

PROBLEM
NUMBER OF
OPTIONS
RESPONDENTS
PERCENTAGE
35
70%
OF PERSONAL TALK
15
30%
TOTAL
50
100%
TALK PERSONALLY TO
THE BANKER
SEND MAIL INSTEAD
ANALYSIS
70% of the users would like to talk personally to the banker in case they
encountered any technical problem.
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30% of the users would like to send a mail and do not want to visit the bank
personally.
Fig: PROBLEM SOLVING IN CASE OF TECHNICAL PROBLEM
30%
TALK PERSONALLY TO THE
BANKER
SEND MAIL INSTEAD OF
PERSONAL TALK
70%
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Bank
INTERPRETATION
The survey shows clearly that majority of the customers do not want to try out
any self-helping mechanism as far as their banking transactions are concerned. 30% of
the customers are confident of solving the problem themselves or wish to use any
impersonal method to solve the same.
Table 4.20: RESPONDENTS OPINION TOWARDS E-BANKING

SERVICES PROVIDED BY THEIR BANKING INSTITUTIONS
NUMBER OF
RATINGS
RESPONDENTS
PERCENTAGE
EXCELLENT
2%
GOOD
36
72%
SATISFACTORY
12
24%
POOR
2%
TOTAL
50
100%
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ANALYSIS
From the above table we can observe that out of 50 respondents, 1 respondent
opinion is excellent towards the E-banking services provided by their banking
institutions, 36 respondents opinion is good, 12 respondents opinion is satisfactory and
1 respondent opinion is poor towards E-banking services provided by their banking
institutions.
Fig:
RESPONDENTS
OPINION
TOWARDS
E-BANKING
SERVICES PROVIDED BY THEIR BANKING INSTITUTIONS
80%
70%
72%
60%
50%
40%
30%
20%
24%
10%
0% 2%
EXCELLENT
GOOD
SATISFACTORY
2%
POOR
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INTERPRETATION
From the above figure it clearly states that majority of the respondents i.e. 72%
of the sample size opinion is good towards E-banking services provided by their
banking institutions. 2% of the respondents opinion is excellent towards E-banking
services provided by their banking institutions and 24% of the respondents opinion
towards E-banking services is satisfactory and 2% of the sample size opinion is poor
towards the E-banking services provided by their banking institutions.
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CHAPTER- 5
SUMMARY OF
FINDINGS,
SUGGESTIONS AND
CONCLUSION
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SUMMARY OF FINDINGS, SUGGESTIONS AND

CONCLUSION
SUMMARY OF FINDINGS
1. The female users represent 40% of the sample size whereas male users represent
60% of the sample size.
2. The survey shows that majority of the users were between the age group of 20-30.
The Internet banking does not seem popular among the above 50 group with only
8% representing the sample size.
3. The post graduates and graduates form about 70% of the Internet banking users. The
diploma holders and others formed an insignificant and negligent part of the users
segment.
4. Majority of the users are the salaried class who form about 72% of the sample size.
The self-employed are the next frequent users while housewives and students
formed the next category.
5. Among the salaried class, it is the private sector employees who dominate in the
usage level representing 78% of the salaried class. The Internet seems to be a faraway technology to the public sector employees.
6. The top layer of the society i.e. people drawing a salary of more than 20,000 every
month were the maximum users of Internet banking, the next being the 15,000 to
20,000 group. The Internet banking and income level seemed to be directly
proportional.
7. The survey shows that 80% of the respondents are aware towards the E-banking
services provided by their banking institutions whereas 20% of the respondents are
not aware towards the E-banking services provided by their banking institutions.
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8. There are respondents who use Internet on a daily basis (8%), weekly basis (18%),
monthly basis (20%) and as and when required (44%). A substantial number of
respondents still use it only when required and the banker have to attract such
customers towards frequent usage.
9. A note-worthy section of the customers use Internet banking to operate between the
accounts (34%) while others used it for ticket booking (30%), checking the bank
balance (20%), and others (16%).
10. It is said that most of the respondents prefer to use E-banking services rather than
Traditional banking practices for various transactions.
11. From the study it is also found that most of the respondents use E-banking services
provided by their banking institutions for convenient purpose when compared to
safety and less expensive.
12. We can come to know that 52% of the respondents prefer to use Security device
for
authentication (verification), 36% prefer SMS text password and 12%
respondents prefer E-Certificate for authentication (verification).

13. Majority of the respondents i.e. 40% of them use Internet banking most of the
times while on tour. 28% of them use quite often, 20% use rarely while on tour and
12% of the respondents say that they never use Internet banking while on tour.
14. From the above survey it states that majority of the respondents i.e. 40% feel that
there are no difficulties encountered while using Internet banking. 20% of them
face difficulties like host not working, 10% slow accessibility and 30% time
consuming, and these are the major difficulties encountered by 60% of the sample
size.
15. The survey shows that 50% of the users feel Internet banking is safe to a large
extent, 24% felt it was absolutely safe and secure, 20% felt it was moderately safe
and 6% felt it was not at all safe.
16. It is found that most of the respondent banks do not charge for E-banking services
provided by their banking institutions.
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17. It was found that during the survey 70% of the respondents look out for other
products from the bank while using Internet facility.
18. With regard to non-extensive usage, security concern was the biggest bottleneck.
Some customers perceived that a brilliant hacker could access their e-accounts by
using their user name and password. On the other hand a segment of customers still
opted for traditional banking/ ATM, the age group being above 50.
19. 70% of the customers required the bankers assistance when encountered by a
problem on Internet. But 30% had no problem with their impersonal assistance as
long as the problem was solved quickly.
20. From the study it is found that 72% of the respondents banks provide Good Ebanking services, around 24% of the respondents banks are providing satisfactory
level of E-banking services and 2% of the respondents banks are providing
Excellent and Poor level of E-banking services respectively.
SUGGESTIONS
Based on the findings there are a few suggestions that can be made here. These
are
1) The users among the female segment are quite low as compared to their male
counterparts. The banks need to target the housewives and the office goers in order
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Bank
to increase their customer base and to encourage the female segment to use this
facility.
2) The Internet banking is popular among the youth. If the trend continues then the
banks would be catering only to a niche market, so efforts must be made to bring in
the 50 plus age group into the main stream.
3) Only the elegant and educated classes of the country like the graduates and postgraduates form the Internet banking population. The banks could target the nongraduates who have a huge asset base to avail the facility.
4) The salaried class forms a majority of the population. The usage level among the
housewives, students and self-employed need to be increased to a large extent.
5) When the salaried classes are sub-divided into private and public sector employees,
the survey shows that it is private sector employees who form the customer data
base. The banks need to target the employees of the public sector units and
encourage them to be a part of the net banking family.
6) The survey shows that a majority of the users form the top layer of the economic
society i.e. people with an annual income of more than 20,000. As the income
decreases the Internet banking habits seemed to be unpopular. Though Internet
banking is catering to the needs of the higher income group it is time that this
facility flowed on to the lower income groups also.
7) The survey shows that majority of the respondents are aware towards E-banking
services provided by their banking institutions but still the banks should make
efforts to create awareness about E-banking services provided by their institutions.
8) About 44% of the users use Internet banking as and when required. Their
frequency of usage needs to be increased through Internet advertising, promotional
schemes, promotional offers, value added services etc.
9) Only about 34% of the customers use the net to operate between accounts the trend
has to show a positive trend and it is possible by offering more reliable and
qualitative services by the bankers through transactional Internet banking.
10) Majority of the respondents i.e. 92% of them prefer E-banking services provided
by their banking institutions but only 2% of the respondents prefer traditional
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banking practice. Therefore the banks should attract these respondents towards the
usage of E-banking services.
11)
84% of the respondents use E-banking services for convenient purpose, 12%
respondents use E-banking services for safety purpose and 4% of the respondents
use E-banking services for less expensive. Therefore the banks should attract those
customers who use E-banking services for safety purpose.
12) Verification for accessing E-banking services should be made mandatory for all
customers.
13) Majority of the respondents i.e. 40% of sample size use internet banking most of
the times while on tour. But the banks should attract those customers who use
Internet banking quite often, rarely and never by providing them the required Ebanking services while on tour.
14) 70% of the customers look out for other products and services of the corresponding
banks while using the Internet banking. The banker can thereby send SPAM mails
and individual letters to the Internet users as well as the other customers to inform
and educate the customers about the other facilities available. In short Internet
banking can act as a supplement in promoting the banks loans, advances etc.
15) Security concern is the biggest bottleneck to Internet banking. Most of the fear
related to security is superficial and created through negative word of mouth. The
banks need to make a special segment in their brochures to gain the confidence of
the public. The firewalls used for the system should be highlighted and the public
should be given a strong feeling that the net banking is a fool-proof system.
16) Though security concerns proved to be a hurdle the good news is that 94% of the
respondents agree that Internet banking is safe and secure till date. This would
make the bankers job easier while promoting this product.
17) There is a need for the banker to go personally to the customers doorstep
whenever the customers encounter a technical problem. A majority of the
customers prefer a bankers personal assistance. The bank can enhance the
Customer Relationship Management through a frequent and timely visit to the
customer.
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18) More financial services should be inculcated in E-banking rather than just viewing
service and also updated and relevant information should be added on to site.
19) The fund transfer services formalities and procedures should be eased.
20) The transactions through E-banking should be supported with mobile banking
services by instant alerts.
21) The E-banking should also include other services like mutual fund, Demat account
etc.
CONCLUSION
From the study it is concluded that E-banking service is the next big thing in
the banking sector. We see a tremendous increase in the usage level of E-banking. Ebanking is the banking of new era. Making banking products and services available to
wholesale and retail customers, through an electronic distribution channel is called Ebanking. E-banking is the outcome of technological innovations and competition. In
fact, banks have been using electronic and telecommunication networks for delivering
a wide range of value added products and services in the coming years no bank will
survive without the service of E-banking. The growing popularity of personal
computers, easy access to internet has increased the use of internet by banks as a
channel for receiving instructions and also delivering their products and services to the
customers. The security and reliability plays a vital role for the development of E-
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banking services. Banks have to eliminate the fear of security from the customers
mind, make it user friendly. They also need to make ways for retrieving the pass word
in case the customer has forgotten. Banks need to promote this facility at par with other
products and services. The package needs to be updated quite frequently. If the
banking institution works on the above suggestions it will reduce the operating and
maintenance cost at the bank locations.
Page 85

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ANNEXURE
Page 86

Bank
QUESTIONNAIRE
Name:
E-mail address:
1. Gender
( ) Male
( ) Female
2. Age
( ) 20-30
( ) 30-40
( ) 40-50
( ) 50 and above
3. Education
( ) Post graduation
( ) Graduation
( ) Diploma holders
( ) Others
4. Occupation
( ) Self Employed
( ) Salaried
( ) Student
( ) Others
5. Employed in
( ) Public sector
( ) Private sector
6. Monthly Income
Page 87
( ) House wife

Bank
( ) <5000
( ) >15000 and <20000
( ) >5000 and <10000
( ) >10000 and <15000
( ) >20000
7. Are you aware towards E-banking services provided by your Banking Institution?
( ) Yes
( ) No
8. How often do you use E-banking services?

( ) Daily
( ) Weekly
( ) Monthly
( ) As and when required
9. For what purpose do you use Internet banking?

( ) Checking the bank balance
( ) Operate between accounts
( ) Ticket Booking
( ) Others
10. Which do you prefer?

( ) E-banking Service
( ) Traditional Banking Practice
11. Why do you use the above services?

( ) Convenient
( ) Safety
( ) Less Expensive
12. Which of the following do you prefer most to use for authentication (verification)?
( ) Security Device
( ) SMS Text Password
13. How often do you use Internet Banking while on tour?

( ) Most of the times
( ) Quite often
Page 88
( ) E-Certificate

Bank
( ) Rarely
( ) Never
14. What are the difficulties encountered while using Internet banking?
( ) Host not working
( ) Slow accessibility
( ) Time consuming
( ) None
15. How secure is your E-banking services provided by your banking Institutions?
( ) Absolutely safe and secure
( ) Safe to a large extent
( ) Moderately safe
( ) Not at all safe
16. Does your bank charge for E-banking services?

( ) Yes
( ) No
17. Do you try to get the details of other Products and services offered by the bank
while using Internet banking?
( ) Yes
( ) No
18. What are the reasons for non-extensive usage?

( ) Non-access to Internet
( ) Security concern
( ) Prefer Traditional Banking
( ) Not fully aware of E-banking
19. Which do you prefer in case of solving the Technical problem?

( ) Talk personally to the Banker
( ) Send mail instead of personal talk
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Bank
20. How do you rate the E-banking services provided by your banking Institutions?
( ) Excellent
( ) Good
( ) Satisfactory
( ) Poor
Page 90

E-Banking Analytical Study

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An Analytical Study on E- Banking Services

The Janatha Co-operative

MLA Academy of Higher Learning.

An Analytical Study on E- Banking Services

The Janatha Co-operative

PLAYERS IN FINANCIAL SERVICE SECTOR

MLA Academy of Higher Learning.

An Analytical Study on E- Banking Services

The Janatha Co-operative

IFCI, ICICI, IDBI,

Fig: Types of Financial Institutions

MLA Academy of Higher Learning.

An Analytical Study on E- Banking Services

The Janatha Co-operative

(a) Commercial banks

History of Co-operative Bank

MLA Academy of Higher Learning.

An Analytical Study on E- Banking Services

The Janatha Co-operative

Meaning and definition of Co-operative Bank

TYPES OF CO-OPERATIVE BANK:

MLA Academy of Higher Learning.

An Analytical Study on E- Banking Services

The Janatha Co-operative

Fig: Types of Co-operative Banks.

NABARD: National Bank for Agricultural and Rural Development.

: State Co-operative Banks.

DCCBS : District Central Co-operative Banks.

: Primary Agricultural Credit Societies.

CLDBS : Central Land Development Banks.

: Primary Land Development Banks.

: Urban Co-operative Banks.

: State Land Development Banks.

: Reserve Bank of India.

MLA Academy of Higher Learning.

An Analytical Study on E- Banking Services

The Janatha Co-operative

Co-operative banks in India, finance urban areas under the following:

Co-operative banks in India, finance rural areas under the following:

MLA Academy of Higher Learning.

An Analytical Study on E- Banking Services

The Janatha Co-operative

The non-banking institutions may be categorized broadly into two groups

A. Organized Financial Institutions

Industrial Finance Corporation of India (IFCI)

Industrial Credit and Investment Corporation of India (ICICI)

Industrial Development Bank of India (IDBI)

MLA Academy of Higher Learning.

An Analytical Study on E- Banking Services

The Janatha Co-operative

State Financial Corporations (SFCs)

State Industrial Development Corporations (SIDCs)

Industrial Investment Bank of India Ltd. (IIBIL)

Small Industries Development Bank of India (SIDBI)

MLA Academy of Higher Learning.

An Analytical Study on E- Banking Services

The Janatha Co-operative

B. Unorganized Financial Institutions

MLA Academy of Higher Learning.

An Analytical Study on E- Banking Services

The Janatha Co-operative

Virtual banking refers to any banking service delivered to the customer by