Project Report

(Submitted for the Degree of B.Com Honours in Accounting &

Finance under the State University)

Title of the Project

A Study on Online Banking in Barasat locality

Submitted by
Name of the candidate : Rupa Mondal
Registration No. : 1051821300187
Name of the College : Barasat College
College Roll No. : 165

Supervised by
Name of the Supervisor :Dr.Sucharita Bhattachryya
Name of the College: Barasat College
Month & Year of Submission:2021

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 Annexure-IA

Supervisor‟s Certificate
This is to certify that Ms. Rupa Mondal a student of B. Com. Honours in Accounting &
Finance of Barasat College under the State University has worked under my supervision and
guidance for his Project Work and prepared a Project report with the title „A Study on Online
Banking in Barasat locality‟.
The project report, which she is submitting, is her genuine and original work to the best of
my knowledge.

Signature:
Name:
Place: Designation:
Date:

Annexure - IB
Student‟s Declaration

I hereby declare that the Project Work with the title ‗A STUDY ON ONLINE BANKING ‘
submitted by me for the partial fulfillment of the degree of B. Com Honours in Accounting &
Finance under the State University 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 any literature
which has been used for this report has been duly acknowledged providing details of such
literature in the references.

Signature:
Name: Rupa Mondal
Address: Raja Rammohan Pally, Barasat
Kol- 700124
Registration No. 1051821300187
Roll No:
Place:
Date:

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 Acknowledgement
It is a matter of great pleasure to present this project on “A STUDY ON ONLINE BANKING IN
BARASAT LOCALOTY”. I take this opportunity to thanks our respected Principal for giving
me an opportunity to work on this field.
I am eagerly grateful to our Head of the Department without whom this project would not
have been successful one.
I am very thankful to my supervisor Dr. Sucharita Bhattachryya for her full support in
completing this project work.

Name of Student: Rupa Mondal

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 TABLE OF CONTENT

SERIAL CONTENTS
NO.
Chapter 1 INTRODUCTION
1.1 Defination
1.2 History
1.3 Review of Literature
1.4 Objective of the Study
1.5 Methodology and Database
1.6 Limitation of the study
1.7 Chapter Planning
Chapter 2 CONCEPTUAL FRAMEWORK/ NATIONAL
&INTERNATIONAL SCENARIO
2.1 Defination
2.2Features of Online Banking
2.3 Advantage of Online Banking
2.4 Disadvantage of Online Banking
2.5 Different types of Online Banking
2.6 Security issue of Online Banking
2.7National Scenario and International Scenario
Chapter 3 DATA COLLECTION AND ANALYSIS
Chapter 4 CONCLUSION AND RECOMMENDATION
4.1Conclusion
4.2 Recommendation
BIBLIOGRAPHY

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 CHAPTER -1

INTRODUCTION

1.1. DEFINATION
Online banking, also known as internet banking or web banking, is an electronic payment
system that enables customers of a bank or other financial institution to conduct a range of
financial transactions through the financial institution's website. The precursor to the modern
home banking services was the distance banking services over electronic media from the
early 1980s. The term 'online' became popular in the late 1980s and referred to the use of a
terminal, keyboard, and TV (or monitor) to access the banking system using a phone line.
'Home banking' can also refer to the use of a numeric keypad to send tones down a phone line
with instructions to the bank.
Online banking allows a user to conduct financial transactions via the Internet.
Consumers aren't required to visit a bank branch in order to complete most of their basic
banking transactions.
A customer needs a device, an Internet connection, and a bank card to register. Once
registered, the consumer sets up a password to begin using the service.

1.2. HISTORY
While financial institutions took steps to implement e-banking services in the mid-1990s,
many consumers were hesitant to conduct monetary transactions over the web. It took
widespread adoption of electronic commerce, based on trailblazing companies such as
America Online, Amazon.com and eBay, to make the idea of paying for items online
widespread. By 2000, 80 percent of U.S. banks offered e-banking. Customer use grew
slowly. At Bank of America, for example, it took 10 years to acquire 2 million e-banking
customers. However, a significant cultural change took place after the Y2K scare ended. In
2001, Bank of America became the first bank to top 3 million online banking customers,
more than 20 percent of its customer base. In comparison, larger national institutions, such as
Citigroup claimed 2.2 million online relationships globally, while J.P. Morgan Chase
estimated it had more than 750,000 online banking customers. Wells Fargo had 2.5 million
online banking customers, including small businesses. Online customers proved more loyal
and profitable than regular customers. In October 2001, Bank of America customers executed
a record 3.1 million electronic bill payments, totaling more than $1 billion. In 2009, a report
by Gartner Group estimated that 47 percent of U.S. adults and 30 percent in the United
Kingdom bank online.

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1.3 REVIEW OF LITERATURE
In the past, Internet Banking has been the focus of numerous academic papers as provision to
increase consumer Internet Banking demand. Adoption, perception and usage of internet banking by
consumers are the popular topics heavily examined in internet banking literature. Several
converging reference domains and theories suggest numerous potential influences on consumer
adoption of internet banking. Including theories of consumer behaviour in mass media choice and
use, gratification theories, innovation diffusion, technology acceptance, online consumer behaviour,
online service adoption, service switching costs and the adoption of internet banking.

According to Reich held & Sasser (1990), “the profitability of a firm increases proportionally with the
number of loyal customers and up to 60% of sales to new customers can be attributed to WOM
(Word of Mouth) referrals”.

Ms. M.Esther Krupa. (2016 ) in their article "A Study on Customer Satisfaction Towards E-Banking
Services in Coimbatore City "banking is one of the emerging trends in the Indian banking and is
playing a unique role in strengthening the banking sector and improving service quality. It has
enabled the banks to handle the payments electronically faster and in large volumes. Several
initiatives have been taken by the Government of India as well as the Reserve bank to facilitate the
development of ebanking in India.

1.4 OBJECTIVES OF THE STUDY

The main objectives of the study are

 To understand the genesis and concepts of Online Banking.

 To analyses the importance, functions, advantages and limitations of Online
Banking.
 To analyses the users behaviour towards online banking
 To highlights the security problems of Online Banking and how to reduce the
security issue with the help of security control.
 To analyze the present e-banking scenario concerned with ATM, Internet
Banking, Mobile banking, credit card , debit card, fund transfer and other e-
banking services.

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1.5. METHODOLOGY AND DATABASE

DATA COLLECTION
The study is mainly based on primary data, from secondary data has been used but that is
negligible has been collected due to COVID situation we have done online survey to collect
our primary data.

 AREA OF STUDY: We have collected the response from the people in surrounding
the Barasat area.

 SAMPLE: We did our project on 51 persons.

 TYPE OF STUDY: It is Analytical and empirical in nature.

TOOLS FOR DATA COLLECTION: Primary data has been collected from people of
Barasat through Online Question year using Google
form(https://docs.google.com/forms/d/e/1FAIpQLSd8_Ka1LkrtJUxhArE4p
8UaXgYCJ2486Kdbysz0JqS9bpkHLw/viewform?usp=sf_link)

1.6. LIMITATION OF THE STUDY

The major limitations of the study are:
A small simple size of 51 respondents is taken to primary data analysis. So I cannot draw
proper inference about the respondents from the sample size.
Due to shortage of time I have not been able to make a depth study.
I could not collect data from outside of BARASAT.
I have not used the modern statistical tools to analysis the data.
Due to COVID-19 I also could not collect the data from outside the locality and from the
bank authority.
The studies based on the prevailing respondents satisfaction but there's satisfaction may
change according to time, fashion, need etc.

1.7. CHAPTER PLANNING

The study is divided into four chapters with reference:
Introduction
Conceptual Framework or National and International scenario
Data collection and analysis
Conclusion and Recommendation

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 CHAPTER-2
Conceptual Framework or National and International scenario

2.1. DEFINATIONOnline banking is an electronic payment system that enables

customers of a bank or other financial institution to conduct a range of financial transactions
through the financial institution's website. Online Banking is also referred as Internet
Banking, e-banking, virtual banking and by others terms. Online banking or E-Banking
is an umbrella term for the process by which a customer may perform banking transactions
automatically without visiting a brick-and-mortar institution.
2.2. FEATURES OF ONLINE BANKING:-
Online banking facilities offered by various financial institutions have many features and
capabilities In common, but also have some that are application specific.
The common features fall broadly into several categories:
(A). A bank customer can perform non-transactional task through online banking, including-
I. Viewing account balance.
II. Viewing recent transactions.
III. Downloading bank statements, for example in PDF format.
IV. Viewing image of paid cheque.
V. Ordering cheque books.
VI. Downloading applications for M-banking, E-banking etc.
VII. Download periodic account statements.
(B). Bank customers can transact banking task through online banking, including-
I. Funds transfer between the customers linked accounts.
II. Paying third parties, including bill payments (see, e.g., BPAY) and third parties fund
transfers (see, e.g., FAST).
III. Investment purchase or sale.
IV. Loan applications and transactions, such A Repayments of enrolment.
V. Transaction approval process.
VI. Financial institution administration.
VII. Credit card applications.
VIII. Register utility billers and make bill payments.
Some financial institutions offer special internet banking services, for example:
Personal financial management support, such as importing data into personal Accounting
Software.
Some online banking platforms support account Aggregation to allow the customers to
monitor all of their accounts in one place whether they are with their main bank or with other
institutions.

2.3. ADVANTAGES OF ONLINE BANKING:-

24/7 account and service access
Online banks are accessible 24/7, as long as you have an Internet connection. Some online
banks, take this perk one step further, giving you 24/7 phone access tour real life customer
service agent. This can be extremely helpful if you don't have access to the internet, or if you
feel you need the assistance of a human brain, rather than a computer algorithm.
SPEED AND EFFICIENCY
If you need to transfer money, apply for a new loan, or perform nearly any banking
transaction, you will typically have to wait in line at the bricks and mortar banking location.
With and online bank, there's never any waiting. As long as you can log in, you can access

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your accounts, request a new credit card, or perform nearly any banking transaction you
desire without driving down to a bank or waiting in line.
Online Bill Payment
One of the great advantages of online banking is online bill pay. Rather than having to write
checks or fill out forms to pay bills, once you set up your accounts at your online bank, all it
takes is a simple click — or even less, as you can usually automate your bill payments. With
online bill pay, it‘s easy to manage your accounts from one central source and to track
payments into and out of your account.
Low Overhead Can Mean Low Fees
Online banks don‘t have to pay for things like electricity, janitorial services, landscaping, or
rent, so they can pass those savings along to customers. Typically, this means that online
banks can charge fewer fees than traditional banks. For example, most online banks offer a
free online checking account with no deposit, along with other no-fee bank accounts, such as
IRAs
Easy of use
Online accounts are easy to setup and required no more information than a traditional bank
account. Many the option of inputting the customer's data online all downloading the forms
and mailing them in. If the customer runs into problem he has the option of calling or
emailing the bank directly.

2.4. Disadvantages of Online Banking:-

No one type of bank can be the best at everything. In spite of their many advantages, there are
some drawbacks to using online banks as well. Here are some of the downsides of working
with an online bank:
Technology Issue
In many ways, an online bank is only as good as your — or their — internet connection. If
there‘s a power outage, or if servers go down, you might not have any access to your account
whatsoever. While some banks offer a phone number for customer service, it might be
overwhelmed if online access is down. With a real bank, you can always find someone to talk
to in the branch.
Security Issues
While many online banks are reputable and well-established, sometimes it can be hard to feel
comfortable with a bank that doesn‘t have a physical presence, particularly when large sums
of money are involved. If a website suddenly folds up, what will happen to your money?
There‘s also the risk of identity theft — or actual theft — if someone gains unauthorized
access to your account via a hacked or stolen password or log-in credentials.
Inefficient at Complex Transactions
Online banks might be able to transfer money between accounts or pay bills, but you might
be more comfortable with an international, bricks-and-mortar bank if you have complex
transactions. Worldwide, business-oriented banks like Chase have global transaction
capabilities, such as the ability to send payments to more than 35 different currencies
worldwide, that online banks might not be able to muster.
CONNECTIVITY
Another issue is that something is that it becomes difficult to know whether your transaction
was successful or not. It may be due to the loss of connectivity in between or due to a slow
connection or the bank‘s server is down.
No Relationship With Personal Banker
Over time, you can develop a relationship with a personal banker if you visit a traditional
bricks-and-mortar location. If you‘re dealing with an online bank, on the other hand, you‘re
typically handed off to an anonymous customer service agent who is unlikely to know you

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from the next customer. If you‘re really in a bind, financially speaking, having a relationship
with someone who can help and who knows you well can be a major advantage over a strictly
online banking relationship

2.5. DIFFERENT TYPES OF ONLINE BANKING:

i. ATM BANKING:-
An automated teller machine or automatic teller machine (ATM) is an electronic
computerized telecommunications device that allow a financial institution‘s customer to
directly use a secure method of communication to access their bank account, order of make
cash withdrawals and check their account balance without the need for a human bank teller.
Many ATMs also allow people to deposit cash or cheques, transfer money between their bank
accounts, top up their mobile phones‘ pre-paid account or even buy postage stamps.
On most modern ATMs, the customer identifies him or herself by inserting a plastic card with
a magnetic stripe or a plastic smartcard with a chip, which contains his or her account
number. The customer then verifies their indent by entering a pass code, often referred to as a
PIN (Personal Identification Number) of four or more digits. Upon successful entry of the
PIN, the customer may perform a transaction.
The Indian market today has more than 51,600 ATM‘s.

ii. INTERNET BANKING:-

Internet Banking lets you handle many banking transactions via your personal computer. For
instance, you may use your computer to view your account balance, request transfers
between accounts, and pay bills electronically.
Internet banking system and method in which a personal computer is connected by a
network service provider directly to a host computer system of a bank such that customer
service requests can be processed automatically without need for intervention by customer
service representatives.The system is integrated with the host computer system of the bank.
The method of the invention includes the steps of inputting a customer banking request
from among a menu of banking requests at a remote personnel computer; transmitting the
banking request to a host computer over a network ; receiving the request at the host
computer; identifying the type of customer banking request received; automatic logging of
the service request, comparing the received request to a stored table of request types, each
of the request type having an attribute to indicate whether the request type is capable of
being fulfilled by a customer service representative or by an automated system.

iii. CREDIT CARD / DEBIT CARD :-

The Credit Card holder is empowered to spend wherever and whenever he wants with his
Credit Card with in the limit fixed by his bank. Credit Card is a post paid card. Debit Card, on
the other hand, is a prepaid card with some stored value. Every time a person uses this card,
the Internet Banking house gets money transferred to its account from the bank of the buyer.
The buyers account is debited with the exact amount of purchases. An individual has to open
an account with the issuing bank which gives debit card with a Personal Identification
Number (PIN). When he makes a purchase, he enters his PIN on shops PIN pad. When the
card is slurped through the electronic terminal, it dials the acquiring bank system – either
Maestro Card or Master Card or VISA that validates the PIN and finds out from the issuing
bank whether to accept or decline the transactions. The customer can never overspend
because the system rejected any transaction which exceeds the balance in his account.

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iv. MOBILE BANKING :-
Mobile banking is a system that allows customers of a financial institution to conduct a
number of financial transactions through a mobile device such as a mobile phone or personal
digital assistant.
Mobile banking differs to mobile payments which involve the use of a mobile device to pay
for goods or services either at the point of sale or remotely, analogously to the use of a debit
or credit card to effect an EFTPOS payment.
The earliest mobile banking services were offered over SMS, a service known as SMS
banking. With the introduction of smart phones with WAP support enabling the use of the
mobile web in 1999, the first European banks started to offer mobile banking on this platform
to their customers.
Mobile banking has until recently (2010) most often been performed via SMS or the mobile
web. Apple's initial success with iPhone and the rapid growth of phones based on Google's
Android (operating system) have led to increasing use of special client programs, called apps,
downloaded to the mobile device. With that said, advancements in web technologies such as
HTML5, CSS3 and JavaScript have seen more banks launching mobile web based services to
complement native applications. A recent study (May 2012) by Mapa Research suggests that
over a third of banks have mobile device detection upon visiting the banks' main website. A
number of things can happen on mobile detection such as redirecting to an app store,
redirection to a mobile banking specific website or providing a menu of mobile banking
options for the user to choose from.
v. DIGITAL WALLET :-
A digital wallet (or e-wallet) is a software-based system that securely stores users' payment
information and passwords for numerous payment methods and websites. By using a digital
wallet, users can complete purchases easily and quickly with near-field communications
technology. They can also create stronger passwords without worrying about whether they
will be able to remember them later.
Digital wallets can be used in conjunction with mobile payment systems, which allow
customers to pay for purchases with their smart phones. A digital wallet can also be used to
store loyalty card information and digital coupons.
While a handful of top digital wallet companies in 2016 included Due, Accelitec
WalletBuilder, Adyel, Airtel Money, Allied Wallet, Alipay, American Express, Android Pay,
Bank of America, and Boost Mobile – among others – the big three remain Google, Amazon,
and PayPal. As one example, Google's Wallet service allows its users to ―store‖ cash on their
phones. Customers can spend this cash both in-store, as well as online at businesses that
accept Google payments.
vi. National Electronic Fund Transfer (NEFT) :-
National Electronic Funds Transfer (NEFT) is a nation-wide payment system facilitating one-
to-one funds transfer. Under this Scheme, individuals, firms and corporate can electronically
transfer funds from any bank branch to any individual, firm or corporate having an account
with any other bank branch in the country participating in the Scheme. Individuals, firms or
corporate maintaining accounts with a bank branch can transfer funds using NEFT. Even
such individuals who do not have a bank account (walk-in customers) can also deposit cash at
the NEFT-enabled branches with instructions to transfer funds using NEFT. However, such
cash remittances will be restricted to a maximum of Rs.50,000/- per transaction. NEFT, thus,
facilitates originators or remitters to initiate funds transfer transactions even without having a
bank account. Presently, NEFT operates in hourly batches - there are twelve settlements from

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8 am to 7 pm on week days (Monday through Friday) and six settlements from 8 am to 1 pm
on Saturdays.

2.6. SECURITY ISSUE OF ONLINE BANKING

INTRODUCTION:-
The internet has made banking, shopping, and conducting other financial transactions online
quite convenient. But when it comes to your money, you want to make sure your transactions
are safe. Security of a customer‘s financial information is very important, without which
online banking could not operate.
Presently, internet banking customers only need a computer with access to the Internet
Banking services. Customer can access their banking accounts from anywhere in the world.
Each customers is provided a login ID and a password to access. It is indeed easy and
convenient for customers.
Wwe will reviews strategies you should employ when dealing with money and the Internet.
You will learn how to make sure a website is secure, including checking the SSL Certificates.
In addition, you‘ll learn the steps you need to take to make shopping online safe and
enjoyable experience.
TYPES OF FRAUDS :-
Nowadays, the nature of attacks is more active rather than passive. Previously, the threats are
all passive such as password guessing, dumpster diving and shoulder suffering. Here are
some of the techniques used by attackers today:
Trojan Attacks: Trojan or Trojan horse is the name given to a computer virus. It is a
type of computer software that is camouflaged in the form of regular software such as
utilities, games and sometimes even antivirus programs. Once it runs on the computer, it
causes problems like killing background system processes, deleting hard drive data and
corrupting file allocation systems. Trojans can have multiple usages, which depend on the
motives of the attacker. These could be identity theft, data theft, crashing computers, spying
or tracking user activities.
Phishing: One of the primary methods a hacker gains access to account information is
through phishing, or tricking the victim into giving up the information voluntarily. A hacker
might send an e-mail or even call, pretending to be a representative of the bank and informing
you about some irregularities with your account. All you need to do to sort things out is to
provide your password or other account information to verify your identity. If you ever
receive a communication that appears to be from your bank and requests this type of
information, contact your bank by phone immediately.
Spyware and Adware: When clicking on pop-up advertisements – ones that ―pop up‖ in
a separate browser window – it‘s possible you are also downloading ―spyware‖ or ―adware‖.
These programs often come bundled with free programs, applications or services you may
download from the Internet. Spyware or Adware software covertly gathers your user
information and monitors your Internet activity, usually for advertising purposes. Be cautious
about clicking on Internet banners and pop-ups or downloading free programs. Maintain
current security software to detect and remove spyware.
ATM Skimming: Fraudsters can attach false casings and PIN pad overlay devices onto
genuine existing ATMs, or they can attach a camouflaged skimming device onto a card
reader entry used in tandem with a concealed camera to capture and record PIN entry details.
Identity theft: Identity theft is on the increase in Australia. It can take many forms, from
fraudulent credit card use, to your entire identity being used to open accounts, obtain loans,
and conduct other illegal activities. Be suspicious if anyone asks you for your personal

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information. Scammers use convincing stories to explain why you need to give them money
or personal details.


Viruses: A computer virus, much like a flu virus, is designed to spread from host to host
and has the ability to replicate itself. Similarly, in the same way that flu viruses cannot
reproduce without a host cell, computer viruses cannot reproduce and spread without
programming such as a file or document.
In more technical terms, a computer virus is a type of malicious code or program written to
alter the way a computer operates and is designed to spread from one computer to another. A
virus operates by inserting or attaching itself to a legitimate program or document that
supports macros in order to execute its code. In the process, a virus has the potential to cause
unexpected or damaging effects, such as harming the system software by corrupting or
destroying data.

STEPS TO SECURE ONLINE BANKING :-
With these many benefits provided by online banking, threats do arise from hackers and
fraudsters. Hackers place themselves in between the two parties that exchange information,
steal it and abuse it in order to break into your account. You can protect your online banking
information from hackers by following certain practices.
USE ONLY SECURE WI-FI NETWORKS:
You cannot trust the security of public Wi-Fi networks. Hackers can easily steal the
information from them, as they are not generally encrypted. Do your transactions only over a
secure network like the one protected by a password at your home. If you need to do
transaction outside of your home, use your cellular network only.

BANK ON SITES WITH “HTTPS” IN THE ADDRESS:
The encrypted sites are the ones that keep your private information safe online. Your banking
site must be encrypted already, but to double-check it, look for letters ―https‖ at the start of
web address and search for a padlock symbol in your web address bar

ENABLE TWO-FACTOR AUTHENTICATION:
2FA, or two-factor authentication, adds an additional factor of authentication to your normal
log-in procedure. Under single-factor authentication, you enter your username and password,
and then you are done. The benefit of 2FA is that it requires you to provide an additional
verification credential before you can gain access to your account.

BEWARE OF PHISHING CALLS, TEXTS AND EMAILS:
You must remember that no one will call, e mail, or text you asking for your online banking
information. If you get these sorts of calls, messages or emails from any source, report them
immediately to your bank customer care.

Use antivirus software: One of the simplest things you can do to safeguard your
personal information is to set up, run and regularly update anti-virus software that will screen
everything from your emails and browsers to even your pop-up ads.

CREATE A STRONG PASSWORD:
Create a strong online banking password using upper- and lower-case letters, numbers, and
symbols. You must get a strong feeling that only you can imagine (and remember) apassword
like this. Also, change your password frequently and refrain from using it for other things.

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2.7NATIONAL SCENARIO OF ONLINE BANKING

The entry of Indian banks into Net Banking

Internet banking, both as a medium of delivery of banking services and as a 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. India can be said to be on the threshold of
a major banking revolution with net banking having already been unveiled. A recent
questionnaire, to which 46 banks responded, has revealed that at present, 11 banks in India
are providing Internet banking services at different levels, 22 banks propose to offer Internet
banking in near future while the remaining 13 banks have no immediate plans to offer such
facility.
Products and services offered
Banks in India are at different stages of the web-enabled banking cycle. Initially, a bank,
which is not having a website, allows its customer to communicate with it through an e-mail
address; communication is limited to a small number of branches and offices which have
access to this e-mail account. As yet, many scheduled commercial banks in India are still in
the first stage of Internet banking operations.
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. These services are being initiated by
banks like ICICI Bank Ltd., HDFC Bank Ltd. Citibank, Global Trust Bank Ltd., UTI Bank
Ltd., Bank of Madura Ltd., Federal Bank Ltd. Etc.
Banks like ICICI Bank Ltd., HDFC Bank Ltd. etc. are thus looking to position themselves as
one stop financial shops. These banks have tied up with computer training companies,
computer manufacturers, Internet Services Providers and portals for expanding their Net
banking services, and widening their customer base. ICICI Bank Ltd. has set up a web based
joint venture for on-line distribution of its retail banking products and services on the
Internet, in collaboration with Satyam Info way, a private ISP through a portal named as
icicisify.com. The customer base of
www.satyamonline.com portal is also available to the bank. The race for market supremacy is
compelling banks in India to adopt the latest technology on the Internet in a bid to capture
new markets and customers. HDFC Bank Ltd. with its
‘Freedom- the e-Age Saving Account‘ Service, Citibank with ‗Suvidha‘ and ICICI Bank Ltd.
with its ‗Mobile Commerce‘ service have tied up with cell phone operators to offer Mobile
Banking to their customers.

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

 INTERNATIONAL SCENARIO OF ONLINE BANKING

seems to be the attention they have paid to providing retail customers with multiple ways to
access their accounts (Internet, telephone, wireless). However, given
that the share of the total population that actually has a bank account is relatively small, the
expansion of Latin American online banking may be facing a bottleneck. Compared with
Since its inception, Internet banking has experienced strong and sustained growth. World
Bank report on leapfrogging in e-finance pointed out that the three countries with impressive
progress in information technology in this sense are Estonia, Republic of Korea and Brazil.
Creation of the world‘s leading electronic banking systems has been done at a remarkably
low cost compared to other world-class internet banks.
In the European Union, 60 million people, representing 18 percent of the adult population,
use online banking. In France, the number of online banking accounts is recording an annual
growth rate of 80 percent. However, Estonia is a country that has become a leader in Internet
banking (which now reaches 18 percent of the population), not only among Eastern European
countries but in world rankings, through a combination of easy to- use software, free-of-
charge transactions and behavior changes resulting from the influence of the Nordic
countries‘ IT culture on Estonia. A sector in which Latin America is seems to be performing
better than in other industries is online retail banking. Growth in this area has been driven by
traditional banks, which have used the online channel to generate customer loyalty and
improve their operating margins. Two Brazilian banks, Bradesco and Bunco do Brazil; have
thus achieved more than 4 million online customers each. Mexico is another leader of
Internet banking in Latin America. It adopted legislation providing for the development of
both E-Commerce and e-finance. In Mexico, the number of online bank users more than
tripled from 700,000 in 2000 to 2.4 million in 2001, and it reached 4.5 million in 2005. One
reason for the success of Latin American banks‘ online ventures overall Internet usage
estimated at 4.4 million in Australia, the major banks together have attracted only 1.2 million
to online banking.

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 CHAPTER – 3

DATA COLLECTION AND ANALYSIS

.
3.1 Gender Basis anaysis

PARTICULARS RESPONDENTS PERCENTAGE

MALE 29 56.86

FEMALE 22 43.13

OTHER 0 0

TOTAL 51 100

DATA ANALYSIS IN RESPECT OF RESPONDENTS

MALE
FEMALE
OTHERS

INTERPRETATION:-
We have received response from 51 persons and in the above chart we have segregated them
according to their gender.we have approx 57% male and 43% female.

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3.2 AGE GROUP ANALYSIS

AGE GROUP FREQUENCY PERCENTAGE

BELOW 18 0 0
18-30 48 94.11
30-40 2 3.92
ABOVE 40 1 1.96

AGE GROUP ANALYSIS

INTERPRETATION:-
Our study dominated by the age group 18-30 we have 94.11% of the respondents are belong
to this age group .Age 30-40 we have 3.92% of the respondents are belong to this age
group.And above 40 age group we have 1.96% of the respondents to this group.

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3.3 OCCUPATION BASIS ANALYSIS:-

OCCUPATION FREQUENCY PERCENTAGE

STUDENT 39 76.47
SALARIED SELF EMPLOYED 10 19.60
NOT WORKING 2 3.92

OCCUPATION BASIS ANALYSIS

INTERPRETATION:-
In this above chart we have received 51 responses,76.47% candidate's occupation is students
, 19.60% candidate's occupation is salaried self employed, 3.92% are not working.

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3.4 DO YOU HAVE ANY BANK ACCOUNT IN ANY BANK?

PARTICULARS FREQUNCY PERCENTAGE

YES 51 100
NO 0 0

INTERPRETATION:-
51 candidates have been responded in the question of do i have any account in any bank.

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3.5 ARE YOU AWARE ABOUT ONLINE BANKING?

PARTICULARS FREQUENCY PERCENTAGE

YES 51 100
NO 0 0

INTERPRETATION:
The respondents this study are fully aware of internet banking from our conversation we have
non that most of them the person know and learn about internet banking during the pendamic
situation.

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3.6 WHY DO YOU USE ONLINE BANKING?

PARTICULARS FREQUENCY PERCENTAGE

RECHARGE 16 31.37
FUND TRANSFER 16 31.37
PAY BILLS 10 19.60
OTHERS 9 17.64

USE OF ONLINE BANKING

INTERPRETATION:-
We have received response from 51 people in the above chart 31.37% respondents are
choosen recharge,31.37% are choosen fund transfer, 19.60% are choosen bill pay and rest
of them choosen other.

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3.7 WHAT WERE THE REASONS FOR CHOOSING ONLINE BANKING?

PARTICULARS FREQUENCY PERCENTAGE

CONVENINCE 4 7.84
24*7 HOURS ACCESS 15 29.41
TO SAVE TIME 17 33.33
EASY PROCESSING 14 27.45
OTHER 1 1.96

CHOOSING FOR ONLINE BANKING

INTERPRETATION:-
Out of 51 respondents ,4 respondents choose convenience, 15 respondents 24*7 hours access,
17 respondents choose to save time, 14 respondents easy processing and 1 respondents
choose other.

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3.8 HOW DO YOU TRANSFER?

PARTICULARS FREQUENCY PERCENTAGE

NEFT 6 11.76
RIGS 0 0
IMPS 1 1.96
UPI 37 72.54
OTHER 7 13.72

INTERPRETATION:
Out of 51 respondents, 6 respondents transfer NEFT, 0 respondents transfer RIGS, 1
respondent transfer IMPS, 37 respondents transfer UPI, 7 respondents transfer other.

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3.9 AT THE TIME OF PANDAMIC COVID-19 SITUATION
DID YOU USE ONLINE BANKING?

PARTICULARS FREQUENCY PERCENTAGE

YES 50 98.03
NO 1 1.96

INTERPRETATION:
Out of 51 respondents, 50 respondents use online banking and 1 respondent not use online
banking.

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4. AFTER USING ONLINE BANKING DID YOU
ENCOUNTER ANY PROBLEM?
PARTICULARS FREQUENCY PERCENTAGE
YES 23 45.09
NO 28 54.90

INTERPRETATION:
Out of 51 respondents , 23 respondents have problem and 28 respondents don‘t have
problem.

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4.1 Are you satisfied with the online banking facility provided by your
bank?

Highly Satisfied -
17.64%
Satisfied -60.78%

Neutral - 21.58%

Dis Satisfied

INTERPRETATION:
In this above chart we have received 51 responses,17.64% people are highly satisfied of
online banking, 60.78% people are satisfied about online banking and 21.58% are responses
neutral about online banking facility.

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FINDING:
The major findings of the primary survey are
51 people respond to this study. 51 people claim that they perform online
banking service.
Out of 51 people 29 male and 22 female. That‘s mean the male have more
knowledge about the transactions and having more knowledge about the
services provided by the banks. Only working ladies and school college students
having knowledge about that service.
Most of the respondents who lie under below 18-30 are using E-banking
services.
Most of the respondents are students.
All persons have bank account in any bank.
All respondents aware about online banking.
Most of them use Online Banking for recharge.
Saving time is the main benefit which online banking users have seen
among other options.
Maximum number of respondent transfer by UPI.
Almost respondent use Online Banking at the time of pandemic COVID 19
situation.
Most of the respondents claim that they have no issue to encounter any
problem.
Most of them are satisfied about Online Banking facility.

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 CHAPTER – 4
CONCLUSION AND RECOMANDATION

4.1. CONCLUSION:
In a country like India, there is need for providing better and customized services to the
customers. Banks must be concerned about the attitudes of customers with regard to
acceptance of internet banking. The importance of security and privacy for acceptance of
internet banking has been noted in many earliest studies and it was found that people claim
that they have knowledge about security issues but they have no clear idea about all kinds‘
frauds. The present study shows that customers are more reluctant to accept new technologies
or methods that might contain little risk. Hence, banks should design the website to address
security and trust issues.
The survey was conducted with 52 people of Hridaypur, Barasat and Kolkata area. So we
can't say that this is a real trend of net banking of whole the country.
People are not confident enough to whether to rely completely on online banking. There is
hesitancy in their minds with regards to preference. So they use both the online and offline
banking.
At the time of Survey when I give questionnaires to people, they very casually fill it without
think of the depth of the study.
Another point is people and not discloses their personal data truly.
Due to COVID-19 Pandemic I can‘t collect more data because this time is very hard to
convince with people is absolutely don‘t allowed so in social media and using google form
this data was collected by them.
Due to shortage of time data can't be collected from all type of people.
The study was conducted with the help of students, service holders and Business men etc.
The study reveals that ATM banking, bill payment, online shopping and online recharge etc
are performed by so many respondents but it does not reflect that NEFT, RTGS or Demat
services are not performed by the people.

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4.2. RECOMMENDATION:
We can see the time is changing and we are not accepting technology but there is still a lot of
perceptual locking which hampers the growth its normal tendency of technology, that why
the growth of internet banking is very primitive in nature.

Recommendations to banks:
• Banks should obey the RBI norms and revised facilities as per the norms but this are not
completely followed by the banks some of our responders complain that their bank do not
give feedback of online transaction in proper Times if customers to not get proper feedback
then their interest in online services will be reduced so bank should take proper step to build a
feedback services.
• Internet banking facilities must be made available in all banks as well as in all branches.
• There is another problem I faced at the time of conducting this survey that the respondents
complained that there are so many ATM machines in this locality but most of the ATMs have
normally no cash at all so bank should extend the service with regular cash filling.
• Banks should make their sites more user friendly customers should be motivated to use
internet banking facilities more.

Recommendations to users:
• Use antivirus and maintain the integrity of your computer by scanning regularly for
computer viruses.
• Always use original operating system with original commercial anti- virus which could be
better than crack version or free sample
• If you are using computer with multiple operating system you must separately install anti-
viruses for each OS.
• Do not use email to send sensitive information.
• Do not respond to emails requesting account information account verification on banking
access credentials such as usernames passwords pin code and similar information.
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BIBLIOGRAPHY:
Websites
www.google.com
www.wikipedia.in
www.investopedia.com
www.yahoo.com
http://www.ehow.com
http://www.rbi.org.in/scripts/ATMView.aspx?atmid=22
The Journal of Computing, Volume 2, Issue 6, June 2010, ISSN 2151-9617.
https://sites.google.com/site/journalofcomputing/ www.journalofcomputing.org
141
http://www.onlinebanking.net/online-banking-services/
http://www.productivity501.com/choosing-online-bank/244/
http://www.banknetindia.com/banking/ibkg.htm
https://docs.google.com/forms/d/1DCB6EG8X9nvABHgHkzWS3C
_Cd4kcP0asNbAMMjcRMyg/edit#question=1852288630&field=186
7426044
QUESTIONNAIRE
Link:
https://docs.google.com/forms/d/e/1FAIpQLSd8_Ka1LkrtJUxhArE4p8Ua
XgYCJ2486Kdbysz0JqS9bpkHLw/viewform?usp=sf_link

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Survey Questions:

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