E Banking in India and Role of Corporation Bank As A Pioneer in Techonology Adoption and Implementation

E BANKING IN INDIA AND ROLE OF
CORPORATION BANK AS A PIONEER IN

TECHONOLOGY ADOPTION AND
IMPLEMENTATION
MRIDUL KUMAR SINGH

MBA,4TH SEMESTER
SIKKIM MANIPAL UNIVERSITY
GORAKHPUR CENTRE.
*******************************************************
CORPORATION BANK
RAGHAV NAGAR,DEORIA
UTTAR PRADESH-274001
*******************************************************
PH-9026899159
[email protected]
INTRODUCTION
“E-banking”- The execution of financial services via internet, reducing cost
and increase in convenience for the customer to access the transaction. e-
banking is an umbrella term for the process by which a customer may perform
banking transactions electronically without visiting a brick-and-mortar
institution. The following terms all refer to one form or another of electronic
banking: personal computer (PC) banking, Internet banking, virtual banking,
online banking, home banking, remote electronic banking, and phone banking.
PC banking and Internet or online banking are the most frequently used
designations. It should be noted, however, that the terms used to describe the
various types of electronic banking are often used and found interchangeably .
The ever increasing speed of internet enabled phones & personal

assistant, made the transformation of banking application to mobile devices,
this creative a new subset of electronic banking i.e. mobile banking. In 1999 &
2000 mobile banking as an established channels, still seems to be a distant
prospect.
The internet is revolutionizing the way the financial industry conducts

business online, has created new players who offer personalize services through
the web portals. This increase to find new ways and increase customer loyalty
to add the value to this product and services.
Banks also enables customers lifestyle needs by changing and increasing

preference for speed and convenience are eroding the traditional affinity
between customer and branch offices as a new technology disinter mediates
traditional channels, delivering the value proposition hinges on owing or
earning the customer interface and bringing the customer a complete solution
which satisfies their needs. Smart card is a new trend which provides the
opportunity to build an incremental revenue stream by providing an ideal
platform for extended application and services. Banks are well positioned to
play central role unit in future M-commerce market. Banks have strong
relationships with corporate and business customers and a wide experience in
providing them with corporate banking services. Bank provides a multimedia of
small and large retailers with acquiring functionality in credit card transactions.
Customers have trusted relationships with banks and a lower propensity to
switch banking providers.
OBJECTVE OF THE PROJECT
This project work, being centered on the technology front of the banking
industry, will through light on the following aspects of E-banking as well as the
role played and to be played by Corporation bank:
0.indian context and prevailing circumstances for E banking
1. definition and scope of E banking
2. need and potentials contained in the concept of E banking
3. changes brought forth by the advent of E banking
4. advantages of E banking
5.requirements for E banking to be successful
6.role of Corporation bank in the implementation of technology in banking

industry
7.trend setting initiatives by Corporation bank
8.areas of improvement for Corporation bank
9.role to be played by the bank in the current scenario
10.strategies which Corporation bank can adopt to fulfil its corporate social
responsibilities
11.Corporation bank as the tech savvy bank of india
12.the overall goal of the bank in the years to come.
13.how the bank can set examples in the entire banking world
In this way this project work is going to be a useful tool to assess the potential
of technology based environment in Indian context and it will also pave the way
to glory and achievement for corporation bank .
RESEARCH METHODOLOGY
This project has been undertaken under the umbrella of corporation bank. As I
am an employee of the bank it has been a great advantage to gather the data
regarding the topic of my project.
The office staff has also been of great support and I have been able to receive
their guidance and am also benefitted by their experience.the customer base of
the bank has been a readily available data bank for me to undertake my project
work.i have used the information about the account holders to analyze and
ascertain how much the bank hass done and how much it still has to do in the
area of technology implementation.
SCOPE OF THE PROJECT STUDY
Today we are living in the world of technology and I need not mention that
technology has become an integral part of out daily life. From getting up in the
morning to the time we go to the bed, our lives keep revolving around the
technology based articles.
In the banking scenario, technology needs neither any introduction nor a

justification. Today our banking industry has adopted technology in such a way
that the term `banking` itself has got a new nomenclature, which is-E BANKING.
E-banking is a new way of doing banking in the technology supported

environment where the use and need of manual work as well as intervention is
reduced to the minimum possible level. Here machines are used to replace and
reduce the human effort and labour to get the banking functions(like-
accounting, verification, record keeping, data retrieval, etc.) executed in a swift,
cost effective and convenient style.
It must be understood that the concept of e banking is not a matter of choice

but the demand of the time. In the present liberalized and globalized set up of
economy it is hard to let go the benefits of technology.
E-banking has reduced the distances among the earning members and the
spending members of any family. This is the grass root change brought forth by
the advent of E BANKING.
In Indian context, E- banking gains a bit more importance as it is known to all
that india, despite all intellectual superpower, is much behind a number of
countries in the context of financial inclusion as well as financial freedom. If
india wishes to bridge this gap and extend the financial services to the deprived
cross section of the society, it is needless to say that E-banking is the most
suitable option.
E-banking can be offered in two main ways. First, an existing bank with physical
offices can also establish an online site and offer e-banking services to its
customers in addition to the regular channel. For example, CORPORATION bank
is a leader in e-banking, offering walk-in, face-to-face banking at its branches
throughout many parts of the world as well as e-banking services through the
World Wide Web. CORPORATION bank customers can access their bank
accounts through the Internet, and in addition to the core e-banking services
such as account balance inquiry, funds transfer, and electronic bill payment,
CORPORATION bank also provides premium services including financial
calculators, online stock quotes, brokerage services, and insurance.
E-banking from banks like CORPORATION bank complements those banks'

physical presence. Generally, e-banking is provided without extra cost to
customers. Customers are attracted by the convenience of e-banking through
the Internet, and in turn, banks can operate more efficiently when customers
perform transactions by themselves rather than going to a branch and dealing
with a branch representative.
E-banking services are delivered to customers through the Internet and the web
using Hypertext Markup Language (HTML). In order to use e-banking services,
customers need Internet access and web browser software. Multimedia
information in HTML format from online banks can be displayed in web
browsers. The heart of the e-banking application is the computer system, which
includes web servers, database management systems, and web application
programs that can generate dynamic HTML pages.
Actually the country which we know as india is full of diversities and differences
of all sorts,be it cast based,creed based,region based or climate based. These
are the real challenges posed by the nature and we have only one resource ,that
is technology, to face them.
Even today we don’t have our whole population under the banking
umbrella,not even one third. If anyhow we manage to bring the 80% of the
populace under the banking net and their funds start moving through the
banking channel our liquidity and financial problems will be a matter of history.
What we need to do is that by whole hearted efforts and dedicated as well as

guided policies we should try to make this dream come true.
A very fantastic example of Corporation bank may be taken .In this project
work, it is made a point how Corporation bank has been a pioneer in
implementing the banking technology and how it has grown by leaps and
bounds by dint of technology implementation. The bank is in being for about
100 years but it has been able to surpass the performance of its peers or rather
to leave them far behind only because of the prudence of its top management
in the context of E-banking and technology adoption.
SPONSORING ORGANISATION DETAILS
CORPORATION BANK
RAGHAV NAGAR
DEORIA, UTTAR PRADESH
PIN-274001
PH:05568-225291/92
e-mail:[email protected]
PROJECT GUIDE DETAILS
NAME : Supriya Srivastava
QUALIFICATION : M.B.A.(Finance)
EXPERIENCE : 3.5 Years

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E BANKING IN INDIA AND ROLE OF

CORPORATION BANK AS A PIONEER IN

MRIDUL KUMAR SINGH

SIKKIM MANIPAL UNIVERSITY

The ever increasing speed of internet enabled phones & personal

The internet is revolutionizing the way the financial industry conducts

Banks also enables customers lifestyle needs by changing and increasing

0.indian context and prevailing circumstances for E banking

1. definition and scope of E banking

2. need and potentials contained in the concept of E banking

3. changes brought forth by the advent of E banking

5.requirements for E banking to be successful

6.role of Corporation bank in the implementation of technology in banking

7.trend setting initiatives by Corporation bank

8.areas of improvement for Corporation bank

9.role to be played by the bank in the current scenario

11.Corporation bank as the tech savvy bank of india

12.the overall goal of the bank in the years to come.

In the banking scenario, technology needs neither any introduction nor a

E-banking is a new way of doing banking in the technology supported

It must be understood that the concept of e banking is not a matter of choice

E-banking from banks like CORPORATION bank complements those banks'

What we need to do is that by whole hearted efforts and dedicated as well as

NAME : Supriya Srivastava

EXPERIENCE : 3.5 Years

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