PROJECT REPORT

Submitted for the Degree of B. Com. Honours in

Accounting &
Finance under University of Calcutta

Title of the project:

ONLINE BANKING

Submitted by

Name of the Candidate: Md. Afridi

CU Registration No. 046-1111-0157-21

CU Roll No. 211046-21-0055

College Roll No. 214441

Name of the College: Prafulla Chandra College

Supervised by

Name of the Supervisor: Prof. Dipanjan Basu

Name of the College: Prafulla Chandra College

Month & Year of Submission May 2024

 ACKNOWLEDGEMENT

I am thankful to all faculty members, providing their valuable time and guidance
elaborating view of studying the project details and getting the right vision for its
implementation.

I pay my immense gratitude to prof.. Dipanjan Basu faculty of PRAFULLA

CHANDRA COLLEGE for his continuous and deliberate discussion on the topic and
indeterminable burden taken by her in helping me throughout conducting the project.

Secondly I am grateful to all our family members and friends for being our side
always. Without their help and motivation it would have been impossible to complete
this project. Lastly, I would like to thank myself for not giving up during the course
of completion of project.
ABSTRACT
This project aims at creation of a secure internet banking system.

The accessibility of this system extends to all customers possessing a valid

identification and password, enabling them to conduct essential transactions from
any location without the need to physically visit a bank branch. This initiative aims
to provide convenience and flexibility to customers by leveraging modern
technology to streamline banking processes. Our project is focused on enhancing the
efficiency and accessibility of banking services through the integration of internet-
based computerized systems. By modernizing traditional banking methods, we seek
to expedite transactions and simplify banking procedures for both customers and
financial institutions alike. Through comprehensive analysis, we explore various
aspects of online banking, including its methodologies, advantages, and potential
challenges. Furthermore, we delve into the broader implications of online banking,
highlighting its transformative impact on the financial sector and its role in
facilitating a seamless banking experience for individuals and institutions alike.
 TABLE OF CONTENT
Chapter Particulars Page
no. no.
1 INTRODUCTION: 01
1) Study Background
2) Review of Literature
3) Unexplored area of study
4) Objectives of Research
5) Study Approach
6) Research Limitations
7) Study Plan
2 Conceptual Framework 07
1) Concept

2) Sector Analysis

3) Company Summary

4) National Context

5) Global Context

6) SWOT/SWOC Summary
3 Presentation and Analysis of Data 16

4 Conclusion 25

5 Bibliography 26
Annexure-I

Supervisor’s Certificate

This is to certify that Mr MD. AFRIDI , a student of B.Com Honours in Accounting & Finance
of
PRAFULLA CHANDRA COLLEGE under the University of Calcutta has prepared a Project
Report with the title “Online Banking in India”.

My contribution however, was mainly in the form of general guidance and discussion.

Place: Kolkata Signature:

Date: Name: Prof. Dipanjan Basu

Designation: Professor

Name of the College: Prafulla Chandra

 Annexure-II

Student’s Declaration

I hereby declare that the Project Work with the title “ONLINE BANKING” submitted by me for
the partial fulfillment of the degree of B.Com. Honours in Accounting & Finance under the
University of Calcutta is my original work and has not been submitted earlier to any other
University/Institution for the fulfillment of the requirement for any course of study.

I also declare that no chapter of this manuscript in whole or in part has been incorporated in this
report from any earlier work done by others or by me. However, extracts of my literature which
has been used for this report has been duly acknowledged providing details of such literature in
the references.

Signature:

Place: Kolkata Name:

Date: Address:

CU Registration No:

CU Roll No:
 CHAPTER : 1 INTRODUCTION

1.1 Study Background:-

The advent of internet banking has sparked a transformative shift within the banking industry,
exerting significant influence on the dynamics of banking relationships. Highlighting this
phenomenon, research conducted by Morgan Stanley Dean Witter underscores the pivotal role of
the internet in retail financial services, surpassing its significance in many other sectors. Internet
banking, which harnesses online platforms to deliver a spectrum of banking products and
services, can be delineated into four primary categories. These categories range from rudimentary
functionality, such as providing access solely to deposit account data, to highly sophisticated
platforms offering integrated sales of supplementary products and facilitating access to a myriad
of financial services including investments and insurance.

In essence, a successful internet banking solution encompasses a comprehensive array of

offerings. These include the provision of exceptional rates on savings, certificates of deposit
(CDs), and individual retirement accounts (IRAs), coupled with checking accounts devoid of
monthly fees, alongside complimentary bill payment services and rebates on ATM surcharges.
Moreover, competitive credit card rates, streamlined online application processes for all account
types, spanning from personal loans to mortgages, 24/7 access to account information, and
superior customer service characterized by personalized attention, collectively define the
hallmark of an exemplary internet banking experience.

Purpose of the Study:-

The main purpose of this study to get an overview of the internet banking sector in The
Indian economy and study as to how it has helped change the banking habits of various
individuals.
1.2-Review of Literature:-

 Dannenberg and Kellner (1998), in their study, overviewed the opportunities for
effective utilization of the Internet with regard to the banking industry. The authors
evaluated that appropriate application of today’s cutting edge technology could ensure
the success of banks in the competitive market. They valuated the services of banks via
internet as websites provide sophisticated line of products and services at low price. The
authors analyzed that transactions via internet reduce the risk of data loss to customers,
chance to cut down expenses, higher flexibility for bank employees, re-shaping the
banks’ image into an innovative an technologically leading institute, etc. The researchers
found that banks could move one step further by entering into a strategic alliance with
internet service provider. So the bank of tomorrow stands to be feasible with today’s
technology.
 Daniel (1999), in his research paper, described e-banking as the newest delivery channel
offered by the retail banks in many developing counties. The objective of the study was to
analyze the current provision of electronic services of major retail banking organization
in the UK. The researcher thought a questionnaire found that 25% in the UK were those
already providing e-banking services, 50% banks were testing or developing such
services while 25% were not providing any e-banking services. Electronic channels, PC,
digital TV and all these provide greater accessibility and services at lower price. To make
services more adaptable, customers should provided maximum choice and convenience.
Restriction and limitation within organization to operate the services and its market share
or strength were viewed as important to decide and operate the e-banking services.
 Sureshchander and Rajendran (2003), in their paper, focused on investigating the
important factors of customers’ perceived quality in banks of developing economy like
India. The authors had taken 15 public sector banks, 14 private banks and 14 foreign
banks for the period under study. The researcher found that there seems to be a great
variation in respect of services offered by three groups of banks. They used core services
such as human element, systemization of services, tangibility of services and social
responsibility as critical factors. They analyzed that three groups of banks in India seem
to vary significantly in terms of service quality factors but from the customers perception
of service quality, it could be acceptable only if could be acceptable only if customers’
need could be satisfied at the right time in a right manner.
  Slam (2006), in his study observe that the effects of electronic banking on the
profitability of Jordanian banks. The study investigated the reasons behind providing
electronic banking service through internet, their impact on banking service in general,
and banks profitability in particular. The result of the study revealed that electronic
infrastructure, cost of training to employees and also the cost involved in creation of
environment where the banks can operate smoothly. However, these services had a
positive impact in the long run on the profitability of banks. The researcher recommended
that banks need to carry out awareness and promotion campaigns to educate clients aware
them of feasibility through reduce time, cost, effort and also to hold training courses for
employees to understand the e-banking business strategies.
1.3 Unexplored Area of Study:-

The research into adoption of new technology domain has attracted many researchers and
practitioners as well. Internet banking is one of the most important information technology
applications. A review of the literature indicated that past studies dealt with the internet banking
issue from many angle every researcher has provided the factors that influence behavioral
intension from his or her point of view. The majority of the past studies focused on exploring
factors that affect the adoption or intension to accept internet banking services for ex:
convenience of internet banking transactions, internet experience (Awamleh, 2005), bank’s web
design and transaction speed (Yoon, 2010), switch caused , offline loyalty and offline trust (lee ,
Tsai and lanting,2011).however, several studies have investigated the effect of internet banking
service quality on adoption .for ex: Broderick and Vachirapornpuk (2002), Joseph and stone
(2003) ,Khan and Mahapatra (2009), Zarei (2010) indicated that the internet banking service
quality play a significant role in influencing the adoption of internet banking services . At the
same time, other previous studies have paid attention to security and perceived risk.
Base on the researcher knowledge, there has been no study that investigated the relationship
between individual technology readiness and their intention toward the adoption of internet
banking services. The technology readiness refers to “people’s propensity to embrace and use
new technology for accomplishing goals in home life and at work”. Technology readinessreflect
an overall state of mind; it is not a measure of competence, it describes a person not the
technology.

As far as the researcher knowledge there is no internet banking study that focuses on the
irrational dimension (i.e. Innovativeness, optimism, discomfort and insecurity) in the past
studies. Furthermore the reviews of the existing literature of technology readiness have also
rebuild that there is no previous study conducted into technology readiness in the domain of
internet banking therefore there is an opportunity for the researcher to conduct research and
bridge this gap in the internet banking research field. Moreover, findings from previous models
about the influences of difference variables on individual intension to accept new technology are
inconsistent . There is a contradiction between previous technology models , which one model
includes some variables, whereas other models omitted them out for ex: UTAUT ignored
attitude , while other theories (TRA, TAM, TPB and DTPB) considered it as one of the most
important variable.

One major criticism of the technology acceptance theories/model is that they have not taken into
account irrational dimension influence. The research to date has tended to focus on specific
factors (i.e. attitude, subjective norms and perceived behavioral control) rather than
irrational/emotional dimension(i.e. optimism, innovativeness, skepticism and discomfort) that
significantly technology readiness , which in term has significant role in influencing individual
intension to accept to reject a new technology (Chen and li, 2010, Berndt, Saunders and
petzer ,2010;Chan and lin ,2010).

1.4 Objectives of Research:

Project objectives aims the purpose behind undertaking a study, shedding light on the topic at
hand and illuminating potential future avenues. Essentially, the scope of the study and its focal
points. The research objectives of this study are:

1. Investigating the internet banking system extended by banks to their clients.

2. Assessing the degree of penetration of internet banking in customers' perceptions.
3. Acquiring a deeper understanding of the operational mechanisms of internet banking.
4. Delving into the prospective developments and opportunities within the realm of internet
banking.
5. Analyzing the individual-centric benefits conferred by internet banking services.

1.5 Study Approach:-

The study is concerned with the banking industry in India. Post-liberalization, privatization and
globalization period has shown transformation in banking industry. Particularly, with the
introduction of IT in banking industry a lot of changes have taken place in public sector banks
but slowly whereas in new private sector banks and foreign banks working in India, these
changes have come at fast pace because these banks are fully computerized by birth. Many
public sector banks are managing transformation manually not through IT channels (due to some
internal and external constraints) but on the other hand new private sector banks and foreign
banks are managing whole process through e-channels. New private sector banks and foreign
banks as compared to public sector banks provide many new products and services.

The study is confined to Indian Banking Industry. Hence, the universe of the study is banking
industry of India. The performance is analyzed on bank, bank group and industry level. Four
bank groups and further four banks from each bank group have been selected for the study. The
study is descriptive and empirical in nature where secondary and primary data is used to address
the objectives. The Indian banking industry was divided into four major bank groups for the
purpose of the required analysis:

Public Sector Banks

(SBI and its Associates-7 and Nationalized Banks - 19) (26 Banks)
Old Private Sector banks (15 Banks)
New Private Sector banks (07 Banks)
Foreign Banks (32 Banks)

1.6 Research Limitations:-

The major limitations of the study include:

- Utilization of a limited sample size for primary data analysis, hindering comprehensive
inference drawing about respondents.

- Absence of contemporary statistical time for data analysis.

- Time constraints impeding the depth of the study.

- Inability to gather data from external markets.

- Reliance on prevailing respondents' satisfaction, acknowledging the potential variability influenced by

time, trends, and evolving needs.

1.7 Study Plan:-

The study is divided into six chapters with reference:

Chapter-1 Introduction

Chapter-2 Conceptual Framework

Chapter-3 Presentation of Data, Analysis and Findings

Chapter -4 Conclusion

Chapter-5 Bibliography

CHAPTER: 2 CONCEPTUAL
FRAMEWORK
2.1 Concept (Definition, advantages & disadvantages).

Definition:

• Online banking is an electronic payment system that enables customer of a financial

institution to conduct financial transaction on a website operated by the institution, such
as a retail bank, virtual bank, credit union or building society. Online banking is also
referred as internet banking, e-banking, virtual banking and by other terms.
• Online banking or E-banking is an umbrella term for the process by which a customer
may perform banking transaction electronically without visiting a brick-and-mortar
institution.
 • Online banking is the practice of making bank transaction or paying bills via the internet.
Thanks to technology, and the internet in particular, people no longer have to leave the
house to shop, communicate, or even do their banking.

Advantages:

To the customer:

 Anywhere banking no matter wherever the customer is in the world. Balance enquiry,
request for services, issuing instructions etc., from anywhere in the world is possible.
 Anytime Banking-Managing funds in real time and most importantly, 24 hours a day, 7
days a week.
 Brings down “Cost of Banking” to the customer over a period of time.  Cash
withdrawal from any bank/ATM.
 On-line purchase of goods and services including online payment for the same.

To the Banks:

 Innovative, scheme, address competition and present the bank as technology driven in the
banking sector market.
 Reduces customer visits to the branch and thereby human intervention.
 Inter-branch reconciliation is immediate thereby reducing chances of fraud and
misappropriation.
 On-line banking is an effective medium of promotion of various schemes of the bank, a
marketing tool indeed.
 Integrated customer data paves way for individualized and customized services.

Disadvantages:
 A customer may have to face some risky transactions and frauds.
 Failure or interruption of power supply cause to break down in e-banking.
 Financial loss of heavy income at times of settlement of higher magnitude.
 Cost to be incurred for training the staff may not be profitable.

2.2 Sector Analysis:-

Without a robust and efficient banking system in India, a healthy economy cannot be
sustained. The banking sector in India must not only be seamless but also adaptable to new
challenges posed by technology and other internal and external factors.

Over the past three decades, India's banking system has achieved significant milestones. One of
the most notable achievements is its extensive outreach, which now extends beyond metropolitan
areas to the farthest corners of the country. This widespread reach has been instrumental in
India's developmental progress.

The government's consistent policies for Indian banks since 1969, including the nationalization
of 14 major private banks, have yielded substantial dividends. Not long ago, customers had to
endure long waits at bank counters for transactions, but today they have multiple convenient
options. Money transfers that once took days can now be completed as swiftly as sending an
instant message or ordering a pizza.

The journey of the Indian banking system can be divided into three distinct phases since the
establishment of the first bank in India in 1786. These phases include the early period up to 1969,
the nationalization of banks until 1991 before reforms, and the new phase post-1991 reforms in
the financial and banking sectors.

The General Bank of India was established in 1786, followed by the Bank of Hindustan and
Bengal Bank. The East India Company later founded the Bank of Bengal (1809), Bank of
Bombay (1840), and Bank of Madras (1843), which operated as independent units known as
Presidency Banks. These three banks merged in 1920 to form the Imperial Bank of India, which
initially operated with predominantly European shareholders before transitioning into a public
sector entity.

2.3 Company Summary:-:

• In early 1990’s more than 7000 branches were using traditional manual procedures.
• Thesemanual procedures wereinherited from the imperial bank.
• Traditionalprocedureswereevolved over decades.
• Very few changes were brought in those procedures as per the need of time.
• In that time, mainframe or mini computers were used for
MIS,RECONCILLATION& FUND SETTLEMENT PROCESS, or we can say that
for backhand operations purpose.

Changes brought in information Technology by ALLAHABAD BANK:-

• In the next decades internet facility was provided for individuals

• All ALLADHABAD BANK branches were connected and ATM’S were launch •
2001- KMPG appointed consultant for preparing IT Plan for the bank.
• Later on Core banking proposed by the IT consultancy company.
• All ALLAHABAD BANK branches were connected and ATM’S were launch
• 2001 – KMPH appointed IT Plan for the bank.
• Later on Core banking proposed by the IT consultancy company.
 • 2002 – All branches computerized but on decentralized system , there the
initiative of core Banking took place
• 2008 –more than 6500 branches (95%Of business ) on Core Banking solution
(CBS)
• Internet Banking facility for corporate customers were also launched in early 2008
• More Interfaces developed with e- Commerce &other sites through alternate
channels like ATM&Online Banking
• All Foreign Offices were brought on centralized Solution
• Large Network is playing the role of backbone for connectivity across the country
• Multiple service providers are providing the links –BSNL, MTNL,
Reliance,Tata& Reliance which are making the system errorless and provide high
speed.
• Multiple technologies to support the networking infrastructure-Leased lines,
Dialup, CDMA & VSAT

2.4 National Context:-

Internet banking has become an integral component of India's banking system.

The concept of e-banking is relatively new in the country, emerging after the early
1990s when branch-based banking was predominant. The Indian Government
implemented the IT Act, 2000, effective from October 17, 2000, to regulate
various aspects of internet banking. To address different facets of internet
banking, the RBI established a committee focusing on technology and security,
legal matters, and regulatory supervision. Based on the committee's
recommendations, RBI issued guidelines for the implementation of internet
banking across India, replacing centuries-old manual banking systems with
modern technologies.
 Tables 1, 2, and 3 present key statistics and trends in internet/electronic banking,
illustrating its current status. Table 1 details the deployment and issuance of
ATMs, POS devices, and electronic cards (credit & debit) by scheduled
commercial banks in India as of December 2014. It also highlights the increasing
number of mobile banking users, with 176,410 ATMs, 1,058,642 POS devices,
20.36 million credit cards, 500 million debit cards, and 35.5 million bank
customers using mobile banking. The table depicts significant growth rates in
these banking channels, reflecting their importance in the Indian context. Table 2
provides transaction statistics conducted through these electronic banking
channels, showing a substantial volume of transactions processed via ATMs.
Table 3 focuses on NEFT and RTGS transactions during the financial year 2014-
15, emphasizing their role in facilitating electronic funds transfers.

Table no. 1

Type of internet channels No. of channels Growth in %

Year

2010 2014

No. of ATM given (In 60,153 1,76,410 193.27

actual Figure)

No. of POS given in (In 5,95,958 10,58,642 77.64

actual Figure)
 No. of CREDIT CARDS 18.33 20.36 11.07
applied (In Millions)

No. of DEBIT CARDS 181.97 500.08 174.81

applied (In Millions)

No. of MOBILE BANKING 5.96 35.5 495.64

users (In Million)

Table no. 2

TRANSACTIONS THROUGH INTERNET / ELECTRONIC BANKING DELIVERY

CHANNELS

Transaction methods No. of transaction (In Growth in %

Million)

Years

2011-12 2013-14

ATM 5086.17 6090.98 19.76

POS 645.76 1128.12 74.7

CREDIT CARD 320.42 511.99 59.79

DEBIT CARD 5409.45 6707.1 23.99

MOBILE BANKING 25.55 94.6 270.25

Table no.3

NEFT AND RTGS TRANSACTIONS

No. of Transactions (In Millions)

Transaction Type Years Growth in %

2010-11 2014-15

NEFT 132 927.55 602.69

RTGS 49 92.75 89.29

Source: compiled from Bank wise ATM/POS/CARD STATISTICS, Reserve Bank of

India and Report on Trends and Progress of Banking in India 2010-11 and RBI website

Table no. 4

INCREASING INTEREST USER IN INDIA

 Years

Users 2010 2011 2012 2013 2014

Internet 90,421,849 122,970,441 155,575,944 213,339,324 243,198,922

users

New users 19,486,779 32,548,593 32,605,503 57,763,380 29,859,598

Average 36,452,770

Growth 0% 36% 72% 136% 168%

Source: Internet Live Stats (www.internetlivestats.com)

2.5 Global Context:-

The advent of Internet has initiated an electronic revolution in the global banking
sector. The dynamic and flexible nature of this communication channel as well as its ubiquitous
reach has helped in leveraging a variety of banking activities. New banking intermediaries
offering entirely new type of banking services have emerged as a result of innovative e-business
models. The Internet has emerged as one of the major distribution channels of banking products
and has advent of internet has initiated an electronic revolution in the services, for the banks in
US and in the European countries. Initially, banks promoted their core capabilities i.e. products,
services and advice through internet. Then, they entered the e-commerce market as providers/
distributors of their own products and services. More recently, due to advances in internet
security and the advent of relevant protocols, banks have discovered that they can play their
primary role as financial intermediate’s and facilitators of complete commercial transactions via
electronic networks especially through the internet. Some banks have chosen a route of
establishing a direct web presence while others have opted for either being participants of a
nonfinancial services centric electronic market place. The trends towards electronic delivery of
banking products and services is occurring partly as a result of consumer demand and partly
because of the increasing competitive environment in the global banking industry.The internet
has changed the customer’ behaviors who are demanding more customized products/services at a
lower price.

2.6 SWOT/SWOC Summary:-

STRENGTH:

• - Enhanced customer reach.

• - Faster time-to-market.
• - Agile introduction of new products and services.
• - Improved understanding of customer needs.
• - Convenient access to information from any location.
• - Increased customer loyalty.
• - Simple online application process for all accounts, including personal loans and
mortgages.
• - 24/7 account accessibility.
• - High-quality customer service with personalized attention.

WEAKNESS:

 Limited awareness among existing customers regarding online banking.

 Rapid technological obsolescence, especially concerning internet security.
 Lengthy procedures for applying for ID and passwords for online banking
services.
 Insufficient employee knowledge about online banking at SBI.
 Complex implementation of new technologies.
 Need for employee training to enhance internet banking knowledge.

Opportunities:

• Approximately 75% of customers are not using internet banking.

 • Core competency can be achieved in terms of banking if focus is made on awareness of
internet banking.
• Can become 1st virtual bank of India.
• Concentration of various services should be made using internet banking Challenges:

• Maintaining Business Edge over competitors in the context of sameness in IT

infrastructure
• Multiple vender support is necessary for working of highly complex technology •
Maintaining secured IT infrastructure for business operations
• Alternative must be there in case of failure of system.

Chapter-3 PRESENTATION OF DATA, ANALYSIS

AND FINDINGS

Customers perspective on Online and Traditional Banking

A survey was conducted on online banking in India for the data among 25 people. The results of
this survey or data is as follows:-

Q1. Do you think online banking is better than traditional Banking?

 NO
28%

YES
72%

POLL out of 25: Yes – 72%; No- 28%

FINDINGS: People know that online banking is better than the traditional banking because of its
nature.

Q2. Overall, how satisfied are you with our online banking service?

very satisfied
satisfied
neutral
unsatisfied

POLL OUT OF 25:very satisfied-28%; satisfied-40%; neutral-20%; unsatisfied-12%

FINDINGS: Majority of peoples are satisfied with online banking but some peoples are also
very satisfied, neutral, unsatisfied.

Q3. Is Bank –a –net easy to use?

 yes
no

POLL OUT OF 25: yes-60%; No-40%

FINDINGS: Majority of people understand that online banking is easy to use because they can
save their time.

Q4. Do you trust the security of online banking service?

52%
51%
50%
49%
48%
47%
46%
YES NO

Poll out of 25: Yes –52%; No – 48%;

FINDINGS: Majority of the people think that their Account is secured, but not all. Their security
concern should be eradicated. This will attract customers.

Q5. How often do you use online banking?

50%
45%
40%
35%
30%
25%
20%
15%
10%
5%
0%
WEEKLY MONTHLY REGULARLY RARELY

POLLoutof25: Weekly – 20%; Monthly – 44%; Regularly – 8%; Rarely – 28%

FINDINGS: Most of the people do not need the services of banks regularly or maybe there is no
need. They may transact with the bank on monthly basis for most of the time.

Q6. What type of transaction do you make in online banking?

50%
45%
40%
35%
30%
25%
20%
15%
10%
5%
0%
CHECK BALANCES PAYMENTS TRANSFER OF OTHER
FUNDS

POLL out of 25: Check balances – 44%; Payments – 28%; Transfer of fund – 8%;other -20%
FINDINGS: The utility of the online banking is service is not used to the extent is should be
and it is being majorly used for the purpose of checking the balance in the account. The reason
for this is the low volume of transactions among the people.

Q7.Are you aware of net banking services offered by the banks?

 Awareness of internet banking services

No
12%

Yes
88%

POLL out of 25: Yes-88%; No-12%

FINDINGS: Itis good for the banks as most of the respondents were aware of the internet
banking and all the services provided under internet banking.

Q8.In which bank do you have your Acccount?

Account in the respective bank

Others
16% SBI
40%
HDFC
20%

PNB
24%

POLL out of 25: HDFC banks-20%; PNB-24%; SBI-40%; Others-16%

FINDINGS:It was witnessed that today public sector bank State bank of India has
the largest customer base but the private banks are also catching up and after State
Bank of India, PNB and HDFC has the highest customer base .Multi-national banks
are also making their presence noticeable in the Indian scenario.

Q9.Are you aware of the methods which can be undertaken to make any kind of fraud?
 Awareness of methods of fraud

Yes
32%

No
68%

POLL out of 25: Yes-32%; No-68%

FINDINGS:It’s pretty tragic but most of the respondents are unaware of the techniques which
can be taken up for any type of fraud.

Q10.Does your bank educate you about the internet banking services being offered?

Educating about internet banking

No
40%

Yes
60%

POLL out of 25: Yes-60%; No-40%

FINDINGS: Most of the respondents felt that they are not properly educated of internet banking
and its benefits to them.

Q11. What benefits do you see in internet banking?

 benefits seen by customers
Time Convenience
10% 16%
Speed
21%
Transparency
53%

POLL out of 25: Convenience-16%; Speed-21%; Transparency-53%; Time-10%

FINDINGS:.Most of the respondents felt that the transparency provided by internet

banking is the highest motivating factor for an individual to use internet banking;
rest speed convenience and time are also the other motivating factors.

Q12.Would you prefer using net banking instead of visiting your bank every now and
then?

Prefer using net banking

No
12%

Yes
88%

Poll out of 25: Yes-88%; No-12%

Findings: It was witnessed that most of the respondents preferred using internet
banking over there conventional banking system. Thus, internet banking has a bright
future ahead.

Q13.Are you aware of the benefits of net banking which are available?
Benefits of Internet banking

No
12%

Yes
88%

Poll Out of 25: Yes-88%; No-12%

Findings: It is pretty amazing to see that most of the respondents are aware of
the benefits of internet banking.

Q14.What are main disadvantages of online banking?

Overall Difficulty
Overall Difficulty of using
of using online
No online banking System
banking System
Disadvantage 32% Lack of assistance
40%

Security Concerns
Security Lack of assistance
Concerns 8%
No Disadvantage
20%

Poll Out of 25: Overall difficulty of using online banking System-32%; Lack of assistance-8% ;
Security Concerns-20%; No Disadvantage-40%
Findings:Most of the respondents felt that no disadvantage provided by internet

banking but some people also face problem like Overall difficulty of using online
banking system,Lack of assistance, Security Concerns.

15Q. Are you started to use more net banking after demonetization?
100%

90%

80%

70%

60%

50%

40%

30%

20%

10%

0%
yes no

Poll out of 25: Yes-12%; No-88%

Findings:Most of the people who are not starting online Banking after demonetization
 CHAPTER: 4 CONCLUSION
The passage highlights the transformative impact of information technology on both
customers and businesses, empowering them with critical information for better investment
decisions. Simultaneously, technology enables banks to innovate with new products, operate
more efficiently, boost productivity, expand globally, and enhance service quality and value.

E-banking, which encompasses electronic delivery channels like the internet,

telephone, and mobile devices, continues to evolve, streamlining payment and accounting
processes and significantly accelerating service delivery. Despite its efficiency benefits, e-
banking poses regulatory challenges. In response, the Indian government and the Reserve Bank
of India (RBI) have taken proactive steps. The IT Act, 2000 provides legal recognition for
electronic transactions, laying the groundwork for e-banking's expansion. The RBI has enhanced
its regulatory oversight, issuing guidelines to banks on risk assessment and control in their
technological infrastructure. Additionally, the regulatory framework for traditional banks now
extends to e-banking, covering technology, security standards, and legal and regulatory aspects
specific to this domain.
CHAPTER 5: BIBLIOGRAPHY

Bank of Baroda- https://www.bankofbaroda.in/

State Bank of India- https://www.sbi.co.in/

HDFC Bank- www.hdfcbank.com

Bank India: https://www.bankofindia.co.in/

AXIS BANK – https://www.axisbank.com/

Investopedia - https://www.investopedia.com/terms/o/onlinebanking.asp

Experian - https://www.experian.com/blogs/ask-experian/what-is-online-banking/

Cashless India: http://cashlessindia.gov.in/internet_banking.html