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A
PROJECT ON
“E-BANKING ON HDFC BANK”
SUBMITTED TO
THE UNIVERSITY OF MUMBAI
IN PARTIAL FULFILLMENT FOR THE AWARD OF
THE DEGREE OF BACHELOR OF COMMERCE
(BANKING AND INSURANCE)
SEMESTER V
(SEAT NO: 12013)
BY
BHARAT R. SIRVEE
THE S.I.A COLLEGE OF HIGHER EDUCATION
2014-2015
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DECLARATION BY THE RESERCH STUDENT
I hereby declare that this project titled “E-BANKING ON HDFC BANK ”.
Submitted by me is based on actual work carried out by me under the guidance andsupervision of MR.HASIT NAGARIYA.
Any reference to work done by any other person or institution or any
material obtained from other sources have been duly citied and reference.
It is in future to state that this work is not submitted anywhere else for any
examination.
S.I.A COLLEGE OF HIGHER EDUCATION
SIGNATURE OF STUDENT
(BHARAT R SIRVEE)
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ACKOWLEDGEMENT
I am thankful to Professor MR. HASIT NAGARIYA for her
valuable guidance in successful completion of this project.
My overriding debt due to our Principal Dr. PADAMAJA ARVIND
and librarian MRS.BHARATI RAO.
Last but not the least I cannot forget my friends and my parents
whose constant encouragement and support made this task a happy job.
SIGNATURE
BHARAT R SIRVEE
(THIRD YEAR BACHELOR OF COMMERCE)
(BANKING AND INSURANCE)
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The SIA College Of Higher Education.
P88, MIDC Residential Area Dombivli Gymkhana Road,
Near BalajiMandir, Dombivli (East).421 203.
Email: [email protected]
CERTIFICATE
This is to certify that,
Mrs. BHARAT R SIRVEE
Student of BCOM (Banking and Insurance V) 2013-2014
Seat No.12013 has successfully completed his Project
Work on E-BANKING ON HDFC BANK under the
guidance of MR. HASIT NAGARIYAas per Mumbai University
syllabus.
COURSE CO-ORDINATOR PROJECT GUIDE
EXTERNAL EXAMINER PRINCIPAL
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PREFACE
With the rapid globalization of the Indian economy, enterprises are facing with
ever changing competitive environment. Enterprises are adopting strategies aimed
at developing competitive advantage based on enhanced customer value in terms of
product differentiation, quality, speed, service and costs. In the post liberalization
era, with the deregulation of Indian economy, the financial service sector
witnessing a complete metamorphosis and technology is playing a very significant
role in this record. Over the last decade India has been one of the fastest adopters
of information technology, particularly because of its capability to provide
software solution to organizations around the world. This capability has provided a
tremendous impetuous to the domestic banking industry in India to deploy the
latest in technology, particularly in the Internet banking and e-commerce arenas.
Banks are growing in size by mergers and acquisitions, which have been driven by
communication and technology. Technology is playing a major role in increasing
the efficiency, courtesy and speed of customer service. It is said to be the age of E-
banking.
An Online Banking user is expected to perform at least one of the following
transactions online:
1. Checking account balance and transaction history
2. Paying bills
3. Transferring funds between accounts
4. Requesting credit card advances
5. Ordering checks
6. Managing investments and stocks trading
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From a bank’s perspective, using the Internet is more efficient than using other
distribution mediums because banks are looking for an increased customer base.
Using multiple distribution channels increases effective market coverage by
enabling different products to be targeted at different demographic segments. Also
Banks cannot risk loosing customers to competitors within the aggressive
competition in the banking industry around the world. Moreover Internet delivery
offers customized service to suit the needs and the likes of each user. Mass
customization happens effectively through Online Banking. It reduces cost and
replaces time spent on routine errands with spending time on business errands.
Online Banking means less staff members, smaller infrastructure demands,
compared with other banking channels. From the customers’ perspective, Online
Banking provides a convenient and effective way to manage finances that is easily
accessible 24 hours a day, seven days a week. In addition information is up to date.
Nevertheless Online Banking has disadvantages for banks like how to work the
technology, set-up cost, legal issues, and lack of personal contact with customers.
And for customers there are security and privacy issues.
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About the project
Title of study
The present study titled in E-BANKING. The study is made by reference to E-
BANKING services given to customer
Object of the study
To study the E-banking services in detail.
To study of awareness of E-banking services among the customer of HDFC
BANK.
To study the customer satisfaction relating to the E-banking services.
To completely study of E-banking provided by HDFC BANK
DATA AND METHODOLOGY
For the purpose of the present study, both primary as well as secondary data were
used.
Primary data is collected through questionnaire from 30 customer to understand
the awareness abut the E-banking. Sample was randomly selected.
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INDEX
Chapter
No.
Topic PAGE NO.
1 INTRODUCATION
2 HISTORY OF HDFC BANK
3 BUSINESS OF HDFC BANK
4 FACILITIES PROVIDED BY HDFC BANK
5 E-BANKING FACILITIES PROVIDED BY
HDFC BANK
6 IMPORTANCE OF E-BANKING FACILITY
7 E- BANKING SERVICES
8 BENEFITS/CONCERNS OF E-BANKING
9 NEWS AND ARTICLES
10 RESEARCH AND METHODLOGY
11 ANAYLISIS AND INTERPRITAION
12 CONCLUSION
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Chapter 1
Introduction
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INTRODUCTION
Internet banking (or E-banking) means any user with a personal computer and a browser can get connected to his bank-s website to perform any of the virtual
banking functions. In Internet banking system the bank has a centralized database
that is web-enabled.
Internet banking can be defined as a facility provided by banking and financial
institutions, that enable the user to execute bank related transactions through
Internet. The biggest advantage of Internet banking is that people can expend the
services sitting at home, to transact business.
Internet banking basically allows you to be able to do everything that you can in
your regular banking institution, only with the benefit that you can do it all right
from the convenience of your own home. You can be comfortable and have peace
of mind knowing that you can keep track yourself of all your banking issues.
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History
The concept of Internet banking has been simultaneously evolving with the
development of the World Wide Web. Programmers working on banking databases
came up with ideas for online banking transactions, some time during the 1980's.
The creative process of development of these services was probably sparked off
after many companies started the concept of online Shopping.
Sometime in 1980's, banking and finance organizations in Europe and United
States started suggestive researches and programming experiments on the concept
of 'home banking'.
In 1983, the Nottingham Building Society, commonly abbreviated and refereed to
as the NBS, launched the first Internet banking service in United Kingdom.
Stanford Federal Credit Union introduced the first online banking service in United
States, in October 1994, which is a financial institution.
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Indian scenario
As this is a time of globalization customer are getting change adapting more
upgraded technology in their life, in this busy schedule everyone is looking for a
time saving process And it’s been come in a way of ―Internet banking‖.
As Internet banking is booming now a days as a delivery of banking services and
strategic tool for business development, has gained wide acceptance internationally
and is fast catching up in India with more and more banks entering the fray.
At present, the total Internet users in the country are estimated at 1crore. Only
about 1% of Internet users did banking online in 1998. This increased to 20.7% in
March 2000.
Costs of banking service through the Internet form a fraction of costs through
conventional methods. Rough estimates assume teller cost at Re.1 per transaction,
ATM transaction cost at 45paisa, phone banking at 35paisa, debit cards at 20paise
and Internet banking at 10paise per transaction.
Some of the banks permit customers to interact with them and transact
electronically with them. Such services include request for opening of accounts,
requisition for cheque books, stop payment of cheques, viewing and printing
statements of accounts, movement of funds between accounts within the same
bank, querying on status of requests, instructions for opening of Letters of Credit
and Bank Guarantees etc. HDFC Bank Ltd. has made e shopping online and real
time with the launch of its payment gateway.
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Definition of E-BANKING
Definition:A Banking company is defined as a company, which transacts the business of
banking in India.
As per Banking Regulation Act 1949 Section 5(b)
"Banking means, accepting for the purpose of lending or investment, of deposits of
money from the public, repayable on demand or otherwise, and withdrawal by
cheque, draft, or otherwise."
According to Sir John Paget
"No person or body, corporate or otherwise can be a banker who does not, (a) take
deposits accounts, (b) take current accounts, (c) issue and pay cheques, (d) collect
cheques, crossed and uncrossed, for his customers."In simple words we can say
that bank is a financial institution which deals in money and credit by obtaining
deposits from public and giving loans and credit to trade and industrial
respectively. "
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Chapter 2
INTRODUCTION
TO HDFC BANK
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HDFC COMPANY PROFILE
HDFC BANK LTD
Type Private
Founded 1994
Headquarters HDFC Bank Ltd.,
Mumbai, India
Industry Banking Insurance
Capital Markets and allied industries
Products Loans, Credit Cards, Savings,
Investment vehicles Insurance etc.
Website www.hdfcbank.com
HDFC Bank (NYSE: HDB), one amongst the firsts of the new generation, tech-
savvy commercial banks of India, was incorporated in August 1994, after the
Reserve Bank of India allowed setting up of Banks in the private sector. The Bank
was promoted by the Housing Development Finance Corporation Limited, a
premier housing finance company (set up in 1977) of India..
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COMPANY PROFILE
History
The Housing Development Finance Corporation Limited (HDFC) was amongst the
first to receive an 'in principle' approval from the Reserve Bank of India (RBI) to
set up a bank in the private sector, as part of the RBI's liberalization of the Indian
Banking Industry in 1994. The bank was incorporated in August 1994 in the name
of 'HDFC Bank Limited', with its registered office in Mumbai, India. HDFC Bank
commenced operations as a Scheduled Commercial Bank in January 1995.
HDFC Bank was incorporated in 1994 by Housing Development Finance
Corporation Limited (HDFC), India's largest housing finance company. It was
among the first companies to receive an 'in principle' approval from the ReserveBank of India (RBI) to set up a bank in the private sector. The Bank started
operations as a scheduled commercial bank in January 1995 under the RBI's
liberalization policies.
Times Bank Limited (owned by Bennett, Coleman & Co. / Times Group) was
merged with HDFC Bank Ltd., in 2000. This was the first merger of two private
banks in India. Shareholders of Times Bank received 1 share of HDFC Bank for
every 5.75 shares of Times Bank.
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In 2008 HDFC Bank acquired Centurion Bank of Punjab taking its total branches
to more than 1,000. The amalgamated bank emerged with a base of about Rs.
1,22,000crore and net
advances of about Rs.89,000 crores. The balance sheet size of the combined entity
is more than Rs. 1,63,000crores.
Distribution network
HDFC Bank is
headquartered in Mumbai. The Bank has an nationwide network of 2000 branches
spread in 996 towns and cities across India. All branches are linked on an online
real-time basis. Customers in over 500 locations are also serviced through
Telephone Banking. The Bank has a presence in all major industrial and
commercial centers across the country. Being a clearing/settlement bank to various
leading stock exchanges, the Bank has branches in the centres’ where the
NSE/BSE have a member base.
The Bank also has 5,998 networked ATMs across these towns and cities.
Moreover, HDFC Bank's ATM network can be accessed by all domestic and
international Visa/MasterCard, Visa Electron/Maestro, Plus/Cirrus and American
Express Credit/Charge cardholders.
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Chapter 3
Business of HDFC bankBusiness of HDFC bank
HDFC Bank deals with three key business segments. - Wholesale Banking
Services, Retail Banking Services, Treasury. It has entered the banking consortia
of over 50 corporates for providing working capital finance, trade services,
corporate finance, and merchant banking. It is also providing sophisticated
product structures in areas of foreign exchange and derivatives, money markets
and debt trading and equity research.
Wholesale banking services
Blue-chip manufacturing companies in the Indian corp. to small & mid-sized
corporates and agri-based businesses. For these customers, the Bank provides a
wide range of commercial and transactional banking services, including working
capital finance, trade services, transactional services, cash management, etc. The
bank is also a leading provider for its to corporate customers, mutual funds, stock
exchange members and banks.
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Retail banki ng services
HDFC Bank was the first bank in India to launch an International Debit Card in
association with VISA (VISA Electron) and issues the MasterCard Maestro debit
card as well. The Bank launched its credit card business in late 2001. By March
2009, the bank had a total card base (debit and credit cards) of over 13 million.
The Bank is also one of the leading players in the “merchant acquiring” business
with over 70,000 Point-of-sale (POS)
terminals for debit / credit cards acceptance at merchant establishments. The Bank
is positioned in various net based B2C opportunities including a wide range of
internet banking services for Fixed Deposits, Loans, Bill Payments, etc.
Treasury
Within this business, the bank has three main product areas - Foreign Exchange
and Derivatives, Local Currency Money Market & Debt Securities, and Equities.
These services are provided through the bank's Treasury team. To comply with
statutory reserve requirements, the bank is required to hold 25% of its deposits in
government securities. The Treasury business is responsible for managing the
returns and market risk on this
investment portfolio.
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Chapter 4
Facilities provided by HDFC bank
Facilities provided by HDFC bank
Personal Banking
Accounts & Deposits
Loans
Cards
Forex
Investments & Insurance
NRI Banking
Accounts & Deposits
Remittances
Investments & Insurance Loans Payment Services
Wholesale Banking
Corporate
Small & Medium Enterprises
Financial Institutions & Trusts
Government Sector
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Chapter 4
E-banking facilities provided by HDFC bank
E-banking facilities provided by HDFC bank
Net Banking
InstaAlerts
Branch Network
ATM
Email Statements
PhoneBanking
Mobile Banking
P.O.Boxes
Net Banking
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HDFC Bank offers you a comprehensive range of transactions across
multiple products through its NetBanking channel. So just log in to
NetBanking and conduct 135 + transactions from the comfort of your
home or office.
You can check your Account Balance, book Fixed and Recurring Deposits,
Download A/c Statement up to 5 years, pay your Bills, Recharge your Mobile/
DTH connection, and much more in a secure environment.
You can log in to NetBanking using your Customer ID and IPIN (password).
Experience Convenience ... Choose NetBanking!
Are you tired of heading down to a Bank branch? Of waiting in queues? Of notknowing how to manage your account at your convenience? We have the answer!
NetBanking is an incredibly convenient and powerful tool, letting you do
everything you want with your accounts at the click of a mouse.
It is Real Time, giving you up-to-the-second details on your account.
All you need to do is Log in using your Customer ID and IPIN (NetBanking
password).
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Your Customer ID is mentioned on your account statement/ account welcome
letter/ chequebook. (Current account / HUF customers can obtain this from the
branch). You can re-generate your IPIN online in 3 easy steps.
Some of the transactions you can do through NetBanking are:
Check your account balances and download 5 year account statement in 5
formats, instantly
Book Fixed Deposit / Recurring Deposit
Pay Utility Bills
View your Credit Card details and pay your Credit Card Bills Recharge your Prepaid Mobile & DTH Connections
Invest in Mutual Funds Online
Book IRCTC Tickets online
Purchase a Gift Card
Pay your Taxes online
Update your PAN Details online
Request Stop Payment of a Cheque/ Hotlist you Debit Card/ Credit Card
View your Loan details
Transfer funds between accounts within HDFC Bank and other Bank
Accounts
InstaAlerts
Now you can get regular updates on your bank account on your mobilephone or
email ID. Just register for our Insta Alert service and receive updates on
youraccount as and when the select transaction happens - all this without visiting
the branch or ATM.You can register for any or all of the following alerts:
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Debit transactions greater than Rs. 5,000/ Rs.10, 000/ Rs. 20,000/Rs. 50,000
Credit in account greater than Rs. 5,000/ Rs.10, 000/ Rs. 20,000/Rs. 50,000
Account Balance below Rs. 5,000/ Rs.10, 000/ Rs. 20,000/Rs. 50,000-
Weekly account balance
Salary Credits
Utility bill payment due Alert
Fees and charges
The service is FREE for you.
Branch Network
Welcome to the networked world of HDFC Bank. You can open an account
and access it from any branch nearest to your residence or office, anywhere
in the country.
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The sophisticated, computerized network gives you the flexibility of
accessing your Savings or Current Account from any of over 3,488 branches
and over 11,426 ATMs across India.
ATM
Our wide range of ATMs across the country ensures that you are never too
far away from money. You can cater to your diverse banking needs, right
from just withdrawing cash to a whole host of other transactions to help you
manage your account with complete security and convenience, whenever
you want.
Welcome to 24 hour banking!
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Features and benefits
Enjoy various features using our Bank ATMs. Here is a look at what you can do at
our ATMs:
24 hour access to cash : You can withdraw up to Rs. 10,000 per day on your
ATM Card and up to Rs. 25,000 or more on your Debit Card (depending on the
type of card held).
Personalized cash withdrawals : Save time on your cash withdrawal
transactions by pre-setting your preferred language / account / amount.
View account balances and mini-statements : Get a mini-statement with the
last 9 transactions on your account, with your account balance.
Change ATM PIN :Change your ATM PIN whenever you want.
Order a cheque book or account statement : You can order a cheque book or
an account statement from our ATMs.
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HDFC Bank Credit Card Payment : Pay your HDFC Bank Credit Card bill at
any of our ATMs. The primary account of your Debit / ATM card will be
debited.
Deposit cash or cheques : Deposit cheques or cash into your account at our
selected non-branch ATMs.
Transfer funds between accounts : You can transfer funds between the
accounts. A maximum of 16 accounts (Savings / Current) can be linked to a
card.
Refill your Prepaid mobile : Refill your prepaid mobile using the Prepaid
Mobile Refill service instantly.
Pay your utility bills : Pay your mobile, telephone and electricity bills through
our ATMs using BillPay, a comprehensive bill payment solution.
Cheque Status Enquiry : Get information about the status of a cheque issued
from your account.
NetBanking password request : Request for your NetBanking password (IPIN) at
an ATM and it will be sent to your recorder mailing address.
Registration for Mobile Banking : Register for MobileBanking and use our
Banking services through your mobile.
There are no charges levied for use of other bank’s cards on HDFC Bank ATMs
for cash withdrawals and balance enquires.
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Fees and charges
There is no charge for using the card at HDFC Bank ATMs
Charges on Other Bank's
ATM Networks in India Charges
For Current Account Debit
Card Holders
Balance enquiry - Free
Cash withdrawal - Rs. 20/-* per transaction
For Salary & Saving
Account Debit Card Holders
Total of 5 ATM Financial and Non-Financial
transactions per month at other Bank ATMs free of
cost.
Charges from the 6th Transaction onwards:
– Rs. 20.00/-* per Financial transaction - i.e Cash
Withdrawals
– Rs. 8.50/-** per Non-Financial transaction - e.g.
Balance Inquiry, Pin Change & Mini Statement
You will be allowed to withdraw a maximum of Rs. 10,000 per transaction from
another bank’s ATM, w.e.f. from 15th October 2009.
You will not be charged any fee when you use your ATM / Debit Card at any
merchant location.
However, at petrol pumps and railway stations you will be charged a fee as per
Industry practice.
Transaction Cash Balance
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Withdrawal Inquiry
International Visa/ Plus ATMs and Cirrus
ATMsRs. 110/- Rs. 15/-***
Email Statements
Receive your account statements via email without any delays for your Savings
and Current Accounts. You also have the option to maintain the statement on
email, print it or save it on a CD. Your account info is now available to you at the
click of a button with email statements.
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Features and benefits
Email statements are FREE
Monthly email statements for your Savings Account
Opt for daily / weekly / monthly email statements for your Current Account
Physical statements will be discontinued if you opt for email statements
Based on the date of account opening, it follows a staggered cycle
Even if you are registered for hold mails, you can opt for email statements
Get information on our new products and mandatory information online.
Email statements will be non-combined statements.
PhoneBanking
PhoneBanking services are a combination of IVR and Agent offering,
depending on the type of transaction. For all transactions that cannot be
completed on the IVR such as reporting loss of cards, logging complaints,
requests & queries, PhoneBanker-assisted services are available
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Features and benefits
Get up-to-the-second details of your Savings or Current Accounts and Fixed
Deposits
Get the details of the last 5 transactions on your account.
Enquire on the status of cheques issued or deposited anywhere in India#
Order a Cheque Book / Account statement to be delivered to your mailing
address.
Open a Fixed Deposit or enquire about your Fixed Deposits / TDS#
Transfer funds between Accounts linked to your Customer ID
Pay your cellular, telephone & electricity bills using BillPay
Call PhoneBanking to report Loss of your ATM / Debit / Prepaid Card.
This service is available 24 hours on all days
Get details on HDFC Bank products and services by talking to our
PhoneBanker
Enquire about latest interest / exchange rates by talking to our PhoneBanker
SMS BANKING
With SMSBanking you can access your account on your mobile wherever you are.
Access your bank account, make banking transactions, monitor your accounts and
fixed deposits on your mobile.
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SMSBanking, a great way to have your bank account at your fingertips!
What features does SMSBanking have?
Take a look at the features of SMSBanking:
View balance details
Get last 3 transaction details
Request for cheque book
Stop cheque payment
Enquire cheque status Request for account statement
Get Fixed Deposit details
Request for IPIN generation
NRI SERVICE DESK / OVERSEAS P.O. BOXES:
At HDFC Bank, we make it easier for you to reach us from across the world.
Keeping in mind the global reach of our esteemed NRI customers like you,
our PO Box facility is available for you in USA, UK, UAE, Australia,
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Canada, Saudi Arabia, Singapore, Germany.
So go ahead and mail us your account related* requests to the below listed
local PO Box addresses in your country.
You no longer have to incur expensive courier charges to send us account
instructions. All you need to do is simply mail your instruction to a local PO
Box in your country overseas. What's more, this facility is available to you
free of charge.
Chapter 6
Importance of E-banking facility
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Importance of E-banking facility
Businesses rely on efficient and rapid access to banking information for cash flow
reviews, auditing and daily financial transaction processing. E-banking offers ease
of access, secure transactions and 24-hour banking options. From small start-up
companies to more established entities, small businesses rely on e-banking to
eliminate runs to the bank and to make financial decisions with updated
information. In an information-driven business climate, companies who do not use
e-banking are at a competitive disadvantage.
Activity Review
Business owners, accounting staff and other approved employees can access
routine banking activity such as deposits, cleared checks and wired funds quickly
through an online banking interface. This ease of review helps ensure the smooth
processing of all banking transactions on a daily basis, rather than waiting for
monthly statements. Errors or delays can be noted and resolved quicker, potentially
before any business impact is felt.
Productivity
E-banking leads to productivity gains. Automating routine bill payments,
minimizing the need to physically visit the bank and the ability to work as needed
rather than on banking hours may decrease the time involved in performing routine
banking activities. Additionally, online search tools, banking actions and other
programs can allow staff members to research transactions and resolve banking
problems on their own, without interacting with bank employees. In some cases,
month-end reconciliations for credit card transactions and bank accounts can be
automated by using e-banking files.
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Lower Banking Costs
Banking relationships and costs are often based on resource requirements.
Businesses that place more demands on banking employees and need more
physical assistance with wire transfers, deposits, research requests and other
banking activities often incur higher banking fees. Opting for e-banking minimizes
business overhead and banking expenses.
Reduced Errors
Utilizing e-banking reduces banking errors. Automation of payments, wires or
other consistent financial activities ensures payments are made on time and may
prevent errors caused by keyboard slips or user error. Additionally, opting for
electronic banking eliminates errors due to poor handwriting or mistaken
information. In many cases, electronic files and daily reviews of banking data can
be used to double or triple check vital accounting data, which increases the
accuracy of financial statements.
Reduced Fraud
Increased scrutiny of corporate finances through audits and anti-fraud measures
requires a high level of visibility for all financial transactions. Relying on e-
banking provides an electronic footprint for all accounting personnel, managers
and business owners who modify banking activities. E-banking offers visibility
into banking activities, which makes it harder for under-the-table or fraudulent
activities to occur.
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Chapter 7
E- BANKING SERVICES:
E- BANKING SERVICES
1. Bill payment service
Each bank has tie-ups with various utility companies, service providers and
insurance companies, across the country. It facilitates the payment of electricity
and telephone bills, mobile phone, credit card and insurance premium bills.
To pay bills, a simple one-time registration for each biller is to be completed.Standing instructions can be set, online to pay recurring bills, automatically. One-
time standing instruction will ensure that bill payments do not get delayed due to
lack of time. Most interestingly, the bank does not charge customers for online bill
payment.
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2. Fund transfer
Any amount can be transferred from one account to another of the same or any
another bank. Customers can send money anywhere in India. Payee’s account
number, his bank and the branch is needed to be mentioned after logging in the
account. The transfer will take place in a day or so, whereas in a traditional
method, it takes about three working days. ICICI Bank says that online bill
payment service and fund transfer facility have been their most popular online
services.
3. Credit card customers
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Credit card users have a lot in store. With Internet banking, customers can not only
pay their credit card bills online but also get a loan on their cards. Not just this,
they can also apply for an additional card, request a credit line increase and God
forbid if you lose your credit card, you can report lost card online.
4. Railway pass
This is something that would interest all the adamant. Indian Railways has tied up
with ICICI bank and you can now make your railway pass for local trains online.
The pass will be delivered to you at your doorstep. But the facility is limited to
Mumbai, Thane, Nasik, Surat and Pune. The bank would just charge Rs 10 + 12.24
percent of service tax.
5. Investing through Internet banking
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Now there is no need to rush to the vendor to recharge the prepaid phone, every
time the talk time runs out. Just top-up the prepaid mobile cards by logging in to
Internet banking. By just selecting the operator's name, entering the mobile number
and the amount for recharge, the phone is again back in action within few minutes.
7. Shopping at your fingertips
Leading banks have tie ups with various shopping websites. With a range of all
kind of products, one can shop online and the payment is also made conveniently
through the account. One can also buy railway and air tickets through Internet
banking.
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Chapter 8
BENEFITS/CONCERNS OF E-
BANKING
BENEFITS OF E-BANKING
For Banks
• Price- In the long run a bank can save on money by not paying for tellers or
for managing branches. Plus, it's cheaper to make transactions over the
Internet.
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• Customer Base- the Internet allows banks to reach a whole new market-
and a well off one too, because there are no geographic boundaries with the
Internet. The Internet also provides a level playing field for small banks who
want to add to their customer base.
• Efficiency- Banks can become more efficient than they already are by
providing Internet access for their customers. The Internet provides the bank
with an almost paper less system.
• Customer Service and Satisfaction- Banking on the Internet not only
allow the customer to have a full range of services available to them but it
also allows them some services not offered at any of the branches. The
person does not have to go to a branch where that service may or may not be
offer. A person can print of information, forms, and applications via the
Internet and be able to search for information efficiently instead of waiting
in line and asking a teller. With more better and faster options a bank will
surely be able to create better customer relations and satisfaction.
• Image- A bank seems more state of the art to a customer if they offer
Internet access. A person may not want to use Internet banking but having
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the service available gives a person the feeling that their bank is on the
cutting image.
For Customers
• Bill Pay- Bill Pay is a service offered through Internet banking that allows
the customer to set up bill payments to just about anyone. Customer can
select the person or company whom he wants to make a payment and Bill
Pay will withdraw the money from his account and send the payee a paper
check or an electronic payment
• Other Important Facilities- E- banking gives customer the control over
nearly every aspect of managing his bank accounts. Besides the Customers
can, Buy and Sell Securities, Check Stock Market Information, Check
Currency Rates, Check Balances, See which checks are cleared, Transfer
Money, View Transaction History and avoid going to an actual bank. The
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best benefit is that Internet banking is free. At many banks the customer
doesn't have to maintain a required minimum balance. The second big
benefit is better interest rates for the customer.
CONCERNS WITH E-BANKING
As with any new technology new problems are faced.
• Customer support - Banks will have to create a whole new customer
relations department to help customers. Banks have to make sure that the
customers receive assistance quickly if they need help. Any major problems
or disastrous can destroy the banks reputation quickly an easily. By showing
the customer that the Internet is reliable you are able to get the customer to
trust online banking more and more.
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• Laws - While Internet banking does not have national or state boundaries,
the law does. Companies will have to make sure that they have software in
place software market, creating a monopoly.
• Security - Customer always worries about their protection and security or
accuracy. There are always questions whether or not something took place.
• Other challenges - Lack of knowledge from customers end, sit changes by
the banks, etc.
Chapter 9
SWOT ANALYSIS
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SWOT ANALYSIS
Strengths
- It has an extensive distribution network comprising of 535
branches in 312 cities & one international office in Dubai this
provides a competitive edge over the competitors.
- The Bank has a strong retail depository base & has more than
million customers.
- Bank has strong brand equity.
- ISO 9001 certification for its depository & custody operations &
for its backend processing of retail operations & direct banking
operation.
- The bank is a market leader in cash settlement service for the
major stock exchanges in its country.
- HDFC Bank is one of the largest private sector banks working
in India.
- It has a highly automated environment in terms of information
technology & communication system.
- Infrastructure is one of the best in the country.- It has many innovative products like kids Advantage scheme,
NRI services.
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Weaknesses
- Account opening and delivery of cheque book take more time. Lackof availability of different credit products like CC Limit, Bill discounting
facilities.
- Complicated terms and conditions of products, which is not easily
Understandable by the layman.
Opportunities
- Branch expansion
- Door step services
- Greater liberalization is foreign ownership via FDI in Indian Pvt.
Sector banks.
- Infrastructure movements & better systems for trading & settlement
in the Govt. securities & foreign exchange markets.
Threats
The bank has started facing competition from players like SBI, PNB inthe finance market itself. This may reduce the profit margins in the
future.
Some Pvt. Banks have 7 days banking.
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Chapter 10
News and articles
News and articles
1. Any time money, no more: How frequent transactions at ATMs become
expensive
New Delhi | Updated: Aug 19 2014, 09:31 IST
SUMMARY
Come Nov 1, frequent usage of
ATMs will become expensive, with
RBI imposing limit of transactions
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Taking out a mini-statement or even changing PIN will amount to a transaction
.
COME November, frequent usage of ATMs will become expensive, with the RBI
imposing a limit of three transactions — financial and non-financial — per month
from ATMs of other banks and five from the same bank in the six metropolitan
cities. You will be required to pay a fee of up to R20 for using ATMs beyond the
permitted numbers of transactions in Delhi, Mumbai, Chennai, Bangalore, Kolkata
and Hyderabad.
Taking out a mini-statement or even changing your PIN will amount to a
transaction. The central bank has, however, said that nothing precludes a bank
from offering more than three free transactions at other bank ATMs to its account
holders if it so desires.
―Recently, a few banks and the Indian Banks’ Association (IBA) had approached
RBI seeking changes in the extant instructions regarding free transactions at other
banks' ATMs. Referring to the growing cost of ATM deployment and maintenance
incurred by banks, on one hand, and the rising interchange outgo due to these free
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Alarmed by the recent Bangalore incident, banks are gearing up to enhance
security at ATMs after a review of threat perception at various locations.
"Though our ATMs have adequate security, the bank will review it and beef up
where required," a senior official of Bank told PTI.
As per the usual practice, banks deploy full-time security guards at the off-site
ATMs (Automated Teller Machines), while at the on-site ATM i.e. at the bank
branch, guards are placed only at night.
According to a Corporation Bank official, in the light of the incident in Bangalore,
the bank will further strengthen the security and take appropriate steps.
In a shocking incident on Tuesday, a women employee of Corporation Bank was
attacked brutally at the on-site ATM of the bank.
The assailant had attacked her after entering the ATM booth closely following her
and downing the rolling shutter when she refused to draw money and hand it over
to him.
The private security industry, which manages the cash logistics and security of
bank ATMs, has been raising the security issue of ATM operations time and again
with the government and banks.
"Its the long wait for the gun licences that will cost the ATM security. The
situation could worsen further as the government has announced one lakh more
ATMs in next 2 years.
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"Imagine what could be state then considering the slow progress on the armed
security front," said Rituraj Sinha managing director of cash management company
SIS Prosegur.
As of August, there were 1,26,950 ATMs of banks across the country. Of this, the
number of onsite ATMs are 63,380 while there 63,570 cash dispensing machines
off-site.
Public sector banks had a combined 72,340 branches, of which 37,672 had onsite
ATMs at the end of March 2013.
3. Soon, you can withdraw cash from ATM even without bank account:
Raghuram Rajan
Summary:
RBI in talks with markets to set up trade receivables exchange to facilitate credit to
MSMEs.
In another effort towards financial inclusion, the RBI has given in-principle
approval to setting up of a new payment system that will facilitate fund transfers
from bank account holders to those without accounts through automated teller
machines (ATMs).
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―Essentially, the sender can have the money withdrawn from his account through
an ATM transaction. The intermediary processes the payment, and sends a code to
the recipient on his mobile that allows him to withdraw the money from any
nearby bank’s ATM,‖ said RBI governor Raghuram Rajan on Wednesday at the
Nasscom summit, and highlighted how technologies can be used to deepen
financial inclusion. Rajan also said the RBI is in talks with market players to set up
a trade receivables exchange to better facilitate credit to micro, small and medium
enterprises (MSMEs). Rajan explained that MSMEs get squeezed all the time by
their large buyers, who pay after long delays.
The governor also said that the RBI will ―accelerate dialogue with key players‖ in
the telecom industry in the next few months to better facilitate mobile banking
through the SMS and unstructured supplementary service data channels.
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Chapter 11
RESEARCH AND METHODLOGY
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OBJECTIVES OF THE STUDY
The main objectives of the study are:
To study the awareness level of service class people regarding E-Banking.
To find out the frequency and the factors that influences the adoption of E-
Banking services.
To measure the satisfaction level of people.
To understand the problems encountered in by service class people while
using E-Banking services(ATM, Phone banking, etc)
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RESEARCH METHODOLOGY
Research is a careful investigation or inquiry especially through search for new
facts in branch of knowledge: market research specifies the information. Required
to address these issues: designs the method for collecting information: manage and
implements the data collection process analyses the results and communicates the
finding and their implications.
Research problem is the one which requires a researcher to find out the best
solution for the given problem that is to find out the course of action, the action the
objectives can be obtained optimally in the context of a given environment.
RESEARCH DESIGN
A framework or blueprint for conducting the research project. It specifies the
details of the procedures necessary for obtaining the information needed to
structure and/or solve research problems. A good research design lays the
foundation for conducting the project. A good research design will ensure that the
research project is conducted effectively and efficiently. Typically, a research
design involves the following components, or tasks:
Define the information needed.
Design the research.
Specify the measurement and scaling procedures.
Construct and present a questionnaire or an appropriate form for data
collection.
Specify the sampling process and sampling size.
Develop a plan of data analysis.
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Data Collection:
The objectives of the project are such that both primary and secondary data is
required to achieve them. So both primary and secondary data was used for the
project. The mode of collecting primary data is questionnaire mode and sources of
secondary data are various magazines, books, newspapers, & websites etc.
1. Primary Data: The primary data was collected to measure the customer
satisfaction and their perception regarding HDFC Bank. The primary data was
collected by means of questionnaire and analysis was done on the basis of response
received from the 30 customers. The questionnaire has been designed in such a
manner that the consumer’s satisfaction level can be measured and consumer can
enter his responses easily.
2. Secondary Data: The purpose of collecting secondary data was to achieve the
objective of studying the recent trends and developments taking place in banking.
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Sample size –
30 customers were selected.
Sampling Unit –
Dombivli (Mumbai)
Sampling Technique –
Convenient sampling.
Analysis and Interpretation
After the data collection, it was compiled, classified and tabulated manually and
with help of computer. Then the task of drawing inferences was accomplished with
the help of percentage and graphic method.
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Chapter 12
ANAYLISIS AND INTERPRITAION
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1. Are you aware about Internet banking HDFC bank?
Interpretation: 79% respondents of HDFC bank are aware about the Internet
banking of HDFC bank and 21% are not aware.
79%
21%
0
10
20
30
40
50
60
70
80
90
yes No
Aware
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2. Are you Internet banking holder of HDFC bank?
Interpretation: 52% respondents are banking holder of HDFC bank, 24%
respondent are not banking holder of HDFC bank, 12% respondent are Internet
banking holder of other bank and 12% respondent doing with both.
52%
24%
12% 12%
0
10
20
30
40
50
60
Yes No Other Both
Internet Banking Holder of HDFC bank
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3. Are you doing Internet banking with HDFC bank?
Interpretation: 56% respondent of HDFC bank doing Internet banking with it and
44% are not doing with.
0
10
20
30
40
50
60
Yes No
56%
44%
Internet Banking with HDFC bank
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4. Are you using Internet banking to view the transaction?
Interpretation: 59% respondents of HDFC bank are using Internet Banking to
view the transaction and 49% are not using for this.
56%
24%
20%
View the Transaction
Yes
No
Other
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5. How many times you are using Internet banking in a month?
Interpretation: 37% respondents are using Internet Banking within 10 days, 34%
using daily, 10% using in 30 days, 10 %using it in a year and 9% using in 20 days.
37
910
34
10
Using Internet Banking
Within 10 days
20 days
30 days
Daily
Year
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6. Do you feel other Bank providing better facility to the customer in Internet
banking than HDFC bank?
Interpretation: 41% respondent feels HDFC bank providing better facility in
Internet Banking than other Bank and 27% respondents feels other Bank providing
better facility and rest 32% can’t say because of not using any others bank service
of internet banking.
27%
41%
32%
Better Facility
Yes
No
Other
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7. Within how many days of submitting your application form, Internet banking
Operationalized?
Interpretation: 37% respondents got Internet banking from the Branch within
10days, 35% got 10-20 days, 18% got 20-30 days and 10% got 30-40 days.
37%
35%
18%
10%
Operationalized Internet Banking
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8. Are you getting requisite information about Internet banking from the website of
HDFC bank?
Interpretation: 15% respondents are getting information from HDFC website and
85% are unable to say it.
0
20
40
60
80
100
yes NA
15%
85%
Information
Information
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9. What facility you mostly prefer in Internet banking?
Interpretation: 14% respondents use the Internet banking doing the transfer fund,
8% use for pay online tax, 10% for book Rail ticket, 18% for book Airline ticket,
22% use more than 1 service and rest 28% haven’t ever used Internet banking not
only of HDFC bank even not of other bank.
14%
8%
18%
10%
22%
28%
0
5
10
15
20
25
30
Transfer
Fund
Pay online
tax
Book Airline
ticket
Book Rail
ticket
More than1 NA
Using Internet Banking
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LIMITATIONS
Every research is conducted under some constraints and this research is not an
exception. Limitations of this study are as follows:-
1. There were several time constraints.
2. The study is limited to areas of dombivli only.
3. The sample size of only 30 was taken from the large population for the purpose
of study, so there can be difference between results of sample from total
population.
4. The study is related to service class people only.
5. People were reluctant to go in to details because of their busy schedules.
6. Merely asking questions and recording answers may not always elicit the actual
Information sought.
7. Due to continuous change in environment, what is relevant today may beIrrelevant tomorrow.
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Chapter 12
CONCLUSION
CONCLUSION
The usage of E-banking is all set to increase among the service class. The service class
at the moment is not using the services thoroughly due to various hurdling factors like
insecurity and fear of hidden costs etc. So banks should come forward with measures to
reduce the apprehensions of their customers through awareness campaigns and more
meaningful advertisements to make E-banking popular among all the age and income
groups. Further, with increasing consumer demands, banks have to constantly think of
innovative customized services to remain competitive. E-Banking is an innovative tool
that is fast becoming a necessity. It is a successful strategic weapon for banks to
remain profitable in a volatile and competitive marketplace of today.
In future, the availability of technology to ensure safety and privacy of e-transactions
and the RBI guidelines on various aspects of internet banking will definitely help in rapid
growth of internet banking in India.
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BIBLIOGRAPHYBOOKS
Malhotra, T. D., “Electronic Banking and Information Technology in Banks”
Sultan Chand and Sons, New Delhi,2008.
S.S Kaptan & N.S. Choubey. “Indian Banking in Electronic Era”
Internet Banking in India-Part I- Dr A. K. Mishra
WEBSITES
www.banknetindia.com
www.bharatbook.com
www.hdfcbank.com
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Annexure
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QUESTIONAIRE
Dear Respondent,
We are conducting a research study of “E-banking Preferences among people in
Dombivli”. We will appreciate your cooperation in this regard by filling up the
questionnaire carefully. All the information provided by you will be kept confidential.
Respondent’s Profile
Name : ________________ Income level per month
Age: ________________ Less than Rs. 10,000
Gender (M/F) : ________________ Rs.10,000 to Rs.20,000
Profession: ________________ Rs.20,000 to Rs.30,000
Organization: ________________ More than Rs.30,000
1. In which banks do you have your account?
a. State Bank of India
b. HDFC Bank
c. Punjab National Bankd. ICICI Bank
e. State Bank of Patiala
f. Canara Bank
g. Bank of India
2. While opening up the account, were you aware of E-banking services provided by
your bank?
a. Fully aware
b. Had an idea
c. No
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3. How did you get to know about E-banking services of your bank?
a. Personal visit
b. Executive from the bank
c. Advertisements
d. Friends/ Relatives
4. Which of the following E-banking services are you aware of?
e. ATM
f. Debit Card
g. Credit Card
h. Phone banking
i. Mobile banking
j. Internet banking
5. Do you use E-banking services?
a. Yes
b. No
6. Which of the following benefits accrue to you, while using E-banking services?
a. Time saving
b. Inexpensive
c. Easy processing
d. Easy fund transfer
e. Any other, please specify
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7. To what extent are you satisfied with your Banks’ E-banking services?
a. Highly Satisfied ___________
b. Satisfied _________
c. Neutral ___________
d. Dissatisfied ___________
e. Highly dissatisfied___________
8. What other services you would like to have through E-banking?
____________________________________________________________
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