C(Cro)

H.K.E Society's
POOJYA DODDAPPA APPA COLLEGE OF ENGINEERING
KALABURAGI- 5851002
An Autonomous Institution, Afliated To
17 Belagavi, and Approved By ACTE)

QULBARGA

AICTE ACTIVITY REPORT

"Facilitating and spreading awareness about 100% Digitalized

Money Transaction"
SUBMITTED TO THE
POOJYA DODDAPPA APPA COLLEGE OF ENGINEERING
KALABURAGI,
(An Autonomous Institution, affiliated to VTU Belagavi and Approved by AICTE.)

BACHELOR OF ENGINEERING
IN
CIVIL ENGINEERING

Submitted by

SYED AKBAR HUSSAINI 3PDI8CVI60

SYEDSHOAIB ATHAR 3PDI8CV162

GHULAM JUNAIDLBARGA JPDI7V048
MOHAMMED MAJID ARSHAD 3PDI7CVO81

Under the Guidance of

Dr. SHRUTI A G

DEPARTMENT OF CIVIL ENGINEERING

P.D.A COLLEGE OF ENGINEERING,
(AUTONOMOUS INSTITUTION)
KALABURAGI
2021-2022
 Hyderabad Karnataka Education Society's
POOJYA DODDAPPA APPA COLLEGE OF ENGINEERING
KALABURAGI- 585102
(in Autonomous Institution, 4fliated To ITU Belagavi, and Approved By ACT)

wwwe
aULBARGA

DEPARTMENT OF CIVIL ENGINEERING

CERTIFICATE

Certifed that the AICTE project work enitled, "Facilitating and spreading
awareness about 100% Digitalized Money Transaction"
is a bonafide work carried out by SYED AKBARHUSSAINI (3PDI8CV160),
SYED SHOAIB ATHAR (3PD18CVI62), GHULAM JUNAID (3PDI7CVO48),
MOHAMMED MAJID ARSHAD (3PDI7CVO8), in partial fulflmentfor the award
of bachelor ofengineering in CIVIL ENGINEERING of Poojya Doddappa Appa College
ofEngineering Kalaburagi, an Autonomous Institution, affiliated to Visvesvaraya
Technological Universit. Belagavi during the year 2021-2022.

Guide GULBARGAH®
/ H

Dr. SHRUTI A G Dr. RAJENDRAKUMAR HARSOOR

 Acknowlédgement
We express our deep sense of gratitude and indebtness to our esteemed institute

PDA COLLEGE OF ENGINEERING", KALABURAGI which has provided us

opportunity to fulfill the most cherished desire to reach our goa.

We express
our foremost gratitude to our principal Dr. S. S. KALASHETTY, for
his constant
support and valuable guidance.

We are thankful Dr. RAJENDRAKUMAR HARSOOR, Head of the Department

of Civil Engineering, for giving permission to carry out this project phase I report in
the college

We express
special gratitude to our
guide Dr. SHRUTI A G, for his
inspiration, guidance, constant supervision, direction and discussions in successful
completion ofthe project phase I repor

We express our heartfelt thanks to the

staff members of Civil Engineering
department, who helped us in completion of this project phase I report directly and
indirectly within the schedule period

Finally we are very thank full to my beloved Parents and Dear Friends.

GULBARGA
SYED AKBAR HUSSAINI
SYED SHOAIB ATHAR
GHULAM JUNAID
MOHAMMED MAJID ARSHAD
 ABSTRACT

India is going to became cashless. Indian government launched digital India

Campaign to reduce dependency of Indian economy on cash and prevent from money
laundering. To making cashless India and increasing trends in using digital payment system
anious Payment methods are emerging and developing. India is developing country and
mavimum area is rural and shocking is computer literacy is only 6.5% then question arises
that implementation of digital payment system. The research paper is making focus on the

problems of digital payment system in India and effects of the system in people and
economic system of India. The research is paper also trying to explain the future scope of the

Digital payment system.

 CONTENTS
SL.no. Particulars Page no.

1.
INTRODUCTION 01
2. OBJECTIVES 02
3. scOPE 03

GOAL 04

5. DIGITAL PAYMENT METHOD 05

6. SURVEY 08

7. PROBLEM DEFINITION 11

8. APPROACH TO SOLUTION 11

9. ADVANTAGES AND DISADVANTAGES 14

10. CONCLUSION 16
 100% Digitalized Money Transaction
Ctating and spreading awareness about

INTRODUCTION

the
Digital transactions are defined as transactions in which the customer authorizes

transfer of money through electronic means, and the funds flow directly from one account

to another. These accounts could be held in banks, or with entities/ providers. These

transfers could be done through means of cards (debit/credit), mobile wallets, mobile apps,

net banking, Electronic Clearing Service (ECS), National Electronic Fund Transfer

(NEFT), Immediate Payment Service (IMPS), pre-paid instruments or other similar means.

The Union Cabinet has given its approval for introduction of steps for promotion of

payments through cards and digital means The move aims at reducing cash transactions.

Several short term (to be implemented within one year) and medium term measures (to be

implemented within two years) have been approved for implementation by the Government

Ministries/ Departments/ Organisations. The Guidelines are asfollows

of
Department of CIVIL Engineering PDA College
Engineering Kalaburagi.
 100% Digitalized Money Transaction
Ctang and spreading awareness about

2.0BJECTIVES

individual.
Improve the ease of conducting card/digital transactions for an

Reduce the risks and costs of handling cash at the individual level.
Reduce costs of managing cash in the economy.
Buld a transactions history to enable improved credit access and financial

inclusion.

Reduce tax avoidance.

.Reduce the impact of counterfeit money.

of
Department of CIVIL Engineering PDA College
Engineering Kalaburagi.
Acilitating and spreading nwaveneww nbout 100% Digitalized Money Tranaetion

3.SCOPE

Provide acces to financial payment services to every citizen nlong with nbil1ty to

conduet card / digital transactions.

Digitalize Covernment collections by equipping each collection point with a

method to accept card/dogital payments

Migrate payment transactions from cash dominated to non-cash through
incentivization of card digital transactions and disincentivization of cash based
transactions.
Enhance acceptance infrastructure in the country to promote digital transactions.
merchant, establishments facilitate card/
Encourage corporate, institutions and to

digital payments.
 Aclatating andspreading awareness about 100% Digitalized Money Transactioi

4.GOAL
he goal of the proposed policy changes is to provide the necessary incentives to use

dugital financial transactions to replace the use of cash-either in governnment transactions, or

in regular commerce over a period of time through policy intervention.

Department of CIVIL Engineering PDA College of

Engineering Kalaburagi.
 Facilitating andspreading awareness about 100% Digitalized Money Transaction

5.DIGITAL PAYMENT METHOOD

.Banking card: Banking sector provides various cards to avoid the time spend over
the banking transaction. It offers consumers more security, convenience, and control than

any other payment method. There are many types of cards Rupay, mastercard, visa etc.

they provides more security to the customer while using it. Payment cards give people the
power to purchase items in stores, on the Intenet, through mail-order catalogues and over
the telephone. They save both customers and merchants' time and money, and thus enable

them for ease of transaction

2 USSD: The innovative payment service *99# works on Unstructured Supplementary

Service Data (USSD) channel. This service allow to users mobile banking without
intemet.*99# facility available to make money transfer from one person to another
without using intemet and smart phones. *99# service has been launched to take the
banking services to every common man across the country. The Common number across
all Telecom Service Providers on their mobile phone and can make transaction using
an interactive menu on the mobile screen. Using this customer can check balance,

transfer money, can get mini statement etc.

3.Adhar enabled Payment system: AEPS is a bank led model which allows online
interoperable financial transaction at PoS (Point of Sale or Micro ATM) through the
Business Correspondent or Bank Mitra of any bank using the Aadhar authentication.

4.UPI: UPI is a Unified Payments Interface system that allow to multiple bank
accounts into a single mobile application, merging several banking features. It is use to
transfer money receive money, bill payments and others. Now it is getting popularity
among the Indian people. It is interesting and easy to use and not need to

remember frequently use beneficiary's account number. The customer can get

transaction history quick payment.

5. Mobile Wallets: there are several mobile wallets are available and each bank have
their own application. The customer can carry digital cash trough mobile wallet. By use of
in mobile device to make transaction. An
wallet customer can link credit card or debit card
individual's account is required to be linked to the digital wallet tosdd the money.

PDA College of
Department of CIVIL Engineering
Engineering Kalaburagi.
ng And spreading awareness about 100% Digitalired Money Transaction
The Paytm, Freecharge, Mobikwik, Airtel Money, Jio Money, SBI Buddy, itz Cash,

Vodafone M-Pesa, ANis Bank Lime, ICICI Pockets, Speed Pay etc. are the mobile

wallets use in India

6. Point of sales: A point of sale (PS) is where sales are made. It allow to PoS holder

to collect money from their customer by the way of swap Also and no need to go

bank for making transaction of purchase and selling, On a micro level, retailers consider a
PoS to be the area where a customer completes a transaction, such as a checkout

counter. But its require GP'S system intemet and bank account of merchant.

7. Intermet banking: Internet banking. also known as online banking, e-bankingg or virtual

banking, is electronic payment systems that allow customers of a bank to make transaction
using website of the bank using ID and password.

8. National Electronic Fund Transfer: (NEFT) National Electronic Funds Transfer is

a nation- wide payment system which provides funds transfer from any bank any
branch to any bank. Using the system individual firms and corporate can electronically
transfer funds from any ban Digital payment method

9. Real Time Gross Settlement (RTGs): RTGS is settlement of funds transfers

individually on an order by order basis. 'Real Time' means the processing of instructions at
the time they are received rather than at some later time. Considering that the funds
setlement takes place in the books of the Reserve Bank of India, the payments are final and
irrevocable. Transferring large amount RTGS is used Customers can send minimum 2 lakh
and maximum have no limit. RTGS can use in banking hours.

10. Electronic Clearing System (ECS); ECS is an altemative method for the payment
transactions like utility-bill-payments such as telephone bills, electricity bills, insurance
premium, card payments and loan repayments, etc.,

1. Immediate Payment Service (IMPS): IMPS offers an instant, 24x7x365, interbank

electronic fund transfer service through mobile phones. IMPS are a tool to transfer money
instantly across India using mobile, intenet and ATM it is safe and cost-effective.

Department of CIVIL Engineering PDA College of

Engineering Kalaburagi.
 Facilitating and spreading awareness about 100% Digitalized Money Transaction
2. Mobile banking: Mobile banking is a portable system provided by banks to customer

on their mobile phones, smart phones with a special application using software. It proVided

its own mobile

by the banks or financial institution for the purpose. Each Bank provides
banking App for Android, Windows

13. Micro ATM: Micro ATM meant to be a device that is used by the million Business

Correspondents to deliver basic bankingservices. The micro ATM enables Business

Correspondents to make instant transactions. It helps to withdrawals, transfers transaction

instantly

PDA College of
Department of CIVIL Engineering
Engineering Kalaburagi.
 Facilitating and spreading awareness about 100% Digitalized Money 1ranaction

6. SURVEY
S t e d simal
vendors and jtal
nearby villages to facilitate and spread awareness au
transactioon

1.KALABURAGI.

PDA College of
Department of CIVIL Engineering
Engineering Kalaburagi.
Facltating andspreading awareness about 1009% Digitalized Money Transaction
2. BHIMALLI

of
Engineering PDA College
Department of CIVIL
Engineering Kalaburagi.
 and spreading awareness about 100% Digitalized Money Transac0
3. TAWERIGI

ENJOY
£FRESHING
EPSI NG

Department of CIVIL Engineering PDA College of

Engineering Kalaburagi.
 Facilitating and spreading awareness about 100% Digitalized Money a

7. PROBLEM DEFNITION

Money sent to wrong beneficiary

.Transaction failed but money is
not credited
Where reversal is not
possible

8. APPROACH TO SOLUTION
money sent to
wrong beneficiary: If you are using net banking and transfer money TO a
wrong beneficiary like Masurkar did, e-mail the bank
with details of accounts
immediately, describing the problem,
involved. Also, visit the branch with the same letter and meet the
manager. Explains Jitesh PV, head digital, Federal Bank:
"Other than the written request,
-

the customer has to

give an indemnity letter in case there's a dispute in the
future

Payment settlement
timeline
Transaction Average time
for reconciliation
(working days
Wallet payments 2
Netbanking payments 5-7
ATM withdrawals 7
Credit card payments 8
Mandate by RBI; Source: RBI, payment
gateways and card issuers

The sender's bank will then approach the bank of the fund receiver and
request for
reversing the transaction. Only after the receiver confirms it is an incorrect transaction and
gives consent for reversing it will the sender get back his money. In case there's an
incorrect transfer when using a mobile wallet, the user needs to follow the same
procedure,
according to Vinay Kalantri, founder and managing director, The Mobile Wallet

Department of CIVIL Engineering PDA College of

Engineering Kalaburagi.
 awareness about 100% Digitalized Money Transaction
atating and spreading
The most
failures are not rare.
Transaction failed but money is not credited: Transaction
back
common reason for this is Intemet connectivity. In such cases,
the funds should come

to the sender's account within 48 hours.

There are cases when it can take much longer, Kolkata-based Aniruddha Roy Was

purchasing a film ticket online when the transaction got stuck in the last leg, when he was

supposed to get a confirmation message. But, the bank sent an SMS that the transaction
was successful. When the money was not reversed after two days, he approached the bank,
"It took more than three weeks to get the money, after constantly following up with the

bank," says Roy.

Such occurrences are rare but do happen. "In certain cases, the bank or wallet company has

to wait for the merchant to reconcile payments, which can take time. A bank or wallet

cannot reverse the transaction until the merchant reconciles," says Kalantri.

To get the money back, there is option but to constantly follow up with the bank or
no

mobile wallet. "In payments systems, it's not impossible to find out where the problem is.
But, the bank, card or wallet player needs to actively pursue the settlement for faster

resolution," says Swain. In the case of an ATM machine not dispensing cash, it takes more
than seven working days and the individual needs to follow the procedure. If it takes
same

longer, the bank has to pay Rs 100 for each day of delay, according to RBI guidelines.

Where reversal is not possible: A bank may if you made

help mistake. But, reversing a
a

transaction is not possible if the sender wants the money back because of a dispute with the
beneficiary over goods or services.

The reversal is also not possible if you make a mistake when transacting with a merchant. It
holds true for banks, wallets and even credit cards. "An authorised transaction cannot be
cancelled by the card issuer. If a customer is charged for a transaction
carried out bynot
him, he should promptly reach out to the issuer to get the card blocked and raise a dispute"
says Vijay Jasuja, CEO, SBI Card. So, when recharging mobile, for example, you enter an
amount of Rs 1,000 instead of Rs 100 or you enter an incorrect mobile number, you will

not get the money back.

Department of CIVIL Engineering PDA College of

Engineering Kalaburagi.
 2 t 10% Dgitalized Meney Transacno
Dispute resolution levels
Timelinefor
resolution
reemail cs er ere
(working days)
upto 8
arazes, tezm of speciaists up to 8
up to 30
E eme ime ire maz.imum upto 30
darat3k, naleror
cutomcany C***
 Transaction
Facilitating and spreading awareness about 100% Digitalized Money

9. ADVANTAGES AND DISADVANTAGES

ADVANTAGES

Low labour costs

S i n c e online payments are usually automatic, they have lower labour costs than

manual payment methods, such as cheque, money order, cash and EFTPOS.

Convenience for online sales

Online payment methods allow conveniently selling goods and services online.

Automatic

Online payments can be automatic, which can be convenient for you and your
customerTS.

Fast transaction speed

Online transactions quickly provide feedback to you and your customers.

Low risk of theft

After processing delays, online payments generally go straight into your bank
account, so they have a low risk of theft.

Disadvantages of online payments

.Online payment methods have several disadvantages. Check outthese examples:

.Service fees
Payment gateways and third-party payment processors charge service fees.

Inconvenient for offline sales

Online payment methods are inconvenient for offline sales.

Department of CIVIL Engineering PDA College of

Engineering Kalaburagi.
 Facilitating and spreading awareness about 100% Digitalized Money Transaction

Vulnerability to cybercriminals

Cybercriminals can disable online payment methods or exploit them to steal people s
money or infomation. Visit the Australian Cybercrime Reporting Network's Leam about

cybercrime page to leam more about cybercrime.

Reliance on telecommunication infrastructure

Intemet and server problems can disable online payment methods.

Technical problems

Online payment methods can go down due to technical problems.

 ktating and spreading awareness about 100% Digitalized Money Transaction

10. CONCLUSION
Dgital Pay ment system is easy to use to the customer as well as bank officers andd

there are several opton are available in the financial system in India, but there are large
anut of peple in India don't know how to use the system. The Digital literacy of Indian

paple is kow level, Therefore digital payment system is not pure developed and spread all
over he nda The social and infrastructure barriers are there influences to use of digital

yment system But Now a day's mobile banking are becoming famous in the India
ecaue t is easy to use and anytime can use. It is also required to improve the digital
literacy among the people. There are also issues relating to the risk and security.

16
Department of CIVIL Engineering PDA College of
Engineering Kalaburagi.