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A

PROJECT REPORT

On

STUDY REGARDING EFFECTIVENESS OF E-BANKING CHANNELS

Submitted By

Faliya Rahulkumar (10031)

Hinsu Kanilkumar (10037)

Batch: 2010-2012

To

Director (PGDM)

In partial fulfillment of the requirements of

Tolani Institute of Management Studies, Adipur

For the award of the degree of

Post Graduate Diploma in Management

Tolani Institute of Management StudiesAdipur 370 025

MARCH 2012

Tolani Institute of Management Studies Page 1

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DECLARATION

We hereby declare that the project work entitled To study regarding effectiveness

of E-Banking Channels Submitted to TOLANI INSTITUTE OF MANAGEMENT

STUDIES, Adipur is a record of an original done by us under the guidance of Dr. Bhavesh

Vanpariya and this project work is not submitted for the award of any other

degree/diploma/associate ship/fellowship or seminar award.

Signature:

Place : Adipur _______________

(Rahul Faliya)

______________

(Kanil Hinsu)


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ACKNOWLEDGEMENT

Through this acknowledgement we express our sincere gratitude towards all those persons

who helped us in the preparation of this project that has been a learning experience. We express our

sincere thanks to all the professors who guided us and gave us valuable suggestion and

encouragement.

We would like to express our sincere thanks to Dr. Bhavesh Vanpariya for their guidance

and support throughout this project and also for suggesting and providing the related information on

this topic.

Last but not the least; we are also thankful to honorable director CMA A. J. Bhambhani for

giving us the opportunity to learn by allowing us to do this project.

Faliya Rahulkumar (10031)

Hinsu Kanilkumar (10037)

Date: 05/02/2012

Place: Adipur


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EXECUTIVE SUMMARY

Objective of the study:

Primary Objective:

To find out the effectiveness of E-Banking channels.

Secondary Objective:

To find out most preferred E-Banking channel.

To find out which services are used most frequently.

To find out if any customers are facing any common difficulty in using any of the E-

Banking channel.

Methodology:

Sources of Data Collection:

Primary & Secondary

Type of Research:

The research is descriptive. The target respondents were interviewed by adopting survey

method through questionnaires.

Type of Sampling:

The convenience sampling method is adopted for the study.

Sampling Unit/Size:

The study consists of Sample size of 200 respondents.

Research Instrument:

Structured Questionnaires

Findings:


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We have concluded that almost 71% customer preferred to do their banking

transaction through E-Banking Channels whereas only 29% Customer preferred to do their

banking transaction through Banking premises.

Debit/Credit cards are the most preferred E-Banking Services because 46% customer

said that they mostly uses this service.

35% customer found sometime technical problem while using E-Banking Services

where as 26% customer found E-Banking Services as time consuming.

Limitations:

Sample size is limited.

Time Constraints.

The scope of this research is limited to only 2 cities.

Originality / Value:

This project is useful to the various banks for their framing marketing

strategy regarding the E-Banking channels. This project might help them to framing

the advertisement for increase the usage of E-banking channels. Bank can use these

project for their understanding purpose and from this project they can know about

the customers expectation from bank regarding E-Banking services and knows

about where the customer facing the problem in using E-Banking service. And from

the use of this project they can benefit in terms customer satisfaction by providing

the services which customer wants.

Keywords:


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E-Banking

Net Banking

Debit/Credit card

Phone Banking


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TABLE OF CONTENTS

Sr. No. Description Page no.

I Declaration 2

II Acknowledgement 3

III Executive summary 4

IV Table of Contents 6

V List of table and charts 8

1 Chapter 1: 9

1.1 Introduction of bank 10

1.2 History of Bank 10

1.3 Internet Banking 11

1.4 E-Banking Meaning 11

1.5 Features of E-Banking 12

1.6 Benefits Of E-Banking 13

1.7 Advantages of Online Banking 151.8 Disadvantages of Online Banking 16

1.9 Different Forms of E-Banking 17

1.9.1 Net Banking 17

1.9.2 A.T.M 18

1.9.3 Tele Banking 18

1.9.4 Debit Card 19

1.9.5 Credit Card 20

1.9.6 E-Cheque 21

1.9.7 Mobile Banking 21

2 Chapter 2: Literature review 23

3 Chapter 3: Objective of the study 324 Chapter 4: Research Methodology 34

4.1 Data Collection 35

4.2 Sampling Design 37

4.3 Techniques of Analysis 41

5 Chapter 5: Analysis 42

5.1 Reliability Analysis 43

5.2 Transaction Place 44

5.3 Most preferred E-Banking service 45

5.4 Services used in Phone Banking 46

5.5 Usage of Debit/Credit Cards 47

5.6 Usage of Net Banking services 485.7 Difficulties faced by Customer 49

5.8 Factor analysis 50

5.9 Cross Tabulation of gender and preferred E-Banking services 56

5.10 Cross Tabulation of gender and Banking transaction place 58

6 Chapter 6: Findings/Results 59

7 Chapter 7: Limitations 61


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8 Chapter 8: Recommendation & Conclusion 63

9 Chapter 9: Appendix 65

9.1 References 66

9.2 Questionnaire 68


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LIST OF TABLE AND CHARTS

Sr. No. Particulars Page no.

1. Literature Review 232. Reliability Test 43

3 Transaction Place 44

4 Most Preferred E-Banking service 45

5 Services used in Phone Banking 46

6 Usage of Debit/Credit Card services 47

7 Usage of Net Banking Services 48

8 Difficulties faced by customers 49

9 Factor Analysis 50

10 Cross tabulation 56


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CHAPTER - 1

INTRODUCTION


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1.1 Introduction of Bank:

A bank has been described as an institution engaged in accepting deposits and grantingloans. It is the institution which deals in money and credit. It can also be described as an institution

which borrows idle resources, makes fund available to those who need it and helps in cheap

remittance of money from one place to another. In the modern time term bank is used in wider term.

Now it does not refer only to particular place of lending and depositing money but it also acts as an

agent which looks after the various financial problems of its customers.

1.2History of Bank:

Banking in India originated in the last decades of the 18th century. The first banks were The

General Bank of India, which started in 1786, and Bank of Hindustan, which started in 1790; both

are now defunct. The oldest bank in existence in India is the State Bank of India, which originated

in the Bank of Calcutta in June 1806, which almost immediately became the Bank of Bengal. This

was one of the three presidency banks, the other two being the Bank of Bombay and the Bank ofMadras, all three of which were established under charters from the British East India Company.

For many years the Presidency banks acted as quasi-central banks, as did their successors. The three

banks merged in 1921 to form the Imperial Bank of India, which, upon India's independence,

became the India. The second half of 19th century saw establishment of Bank of Baroda, Allahabad

bank, and Punjab National Bank. These banks were set up by merchants and traders to combined

trading with banking. These led to the series if failures of banks. The Dena bank is started in 1938.

The strengthening of banking system took place after the establishment of Reserve Bank of India,

1939 as is empowers to regulate the banking money, inspection of mergers and acquisition in terms

of Banking Companies Act 1949 which later came to be known as Banking Regulation Act 1949.


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1.3Internet 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 betweenaccounts, 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 capable of distinguishing between those customer service requests which are capable

of automated fulfillment and those requests which require handling by a customer service

representative. The system is integrated with the host computer system of the bank so that the

remote banking customer can access other automated services 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 requests 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 types having an attribute to indicate whether the

request type is capable of being fulfilled by a customer service representative or by an automated

system; and, depending upon the attribute, directing the request either to a queue for handling by a

customer service representative or to a queue for processing by an automated system.

1.4 E-Banking Meaning:

Internet banking refers to systems that enable bank customers to access accounts and general

information on bank products and services through a personal computer (PC) or other intelligent

device.


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Electronic banking, also known as electronic funds transfer (EFT), is simply the use of electronic

means to transfer funds directly from one account to another, rather than by Cheque or cash. You

can use electronic funds transfer to:

Have your pay cheque deposited directly into your bank or credit union checking account.

Withdraw money from your checking account from an ATM machine with a personal

identification number (PIN), at your convenience, day or night.

Instruct your bank or credit union to automatically pay certain monthly bills from your

account, such as your auto loan or your mortgage payment.

Have the bank or credit union transfer funds each month from your checking account to

your mutual fund account.

Have your government social security benefits check or your tax refund deposited directly

into your checking account.

Buy groceries, gasoline and other purchases at the point-of sale, using a check card rather

than cash, credit or a personal check.

Use a smart card with a prepaid amount of money embedded in it for use instead of cash at a

pay phone, expressway road toll, or on college campuses at the library's photocopy machine

or bookstores.

Use your computer and personal finance software to coordinate your total personal financial

management process, integrating data and activities related to your income, spending,

saving, investing, recordkeeping, bill-paying and taxes, along with basic financial analysis

and decision making.

1.5Features of E-Banking:


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Checking with no monthly fee, free bill payment and rebates on ATM surcharges.

Credit cards with low rates.

Easy online application for all accounts, including personal loans and mortgages.

24 hour account access.

It provides Quality customer service with personal attention.

It provides the quick services to their customers.

Enables transfer of funds from one place to another (banks).

Enable foreign exchange operation.

Inter-bank applications like settlement of funds between banks.

Provides facility likes Phone Banking, ATM, Online banking.

Transfer of funds between accounts.

It brings efficiency in CRM (Customer relationship Management).

Make Payment of bills.

Introduce new & innovative product &service.

View balance and statements.

Bring door to door services.

Create, view and maintain Standing Orders.


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1.6Benefits 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.

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 allows 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:


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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 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 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.

1.7Advantages of Online Banking:

Convenience: Unlike your corner bank, online banking sites never close; they're available

24 hours a day, seven days a week and they're only a mouse click away.


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Ubiquity: If you're out of state or even out of the country when a money problem arises,

you can log on instantly to your online bank and take care of business, 24/7.

Transaction speed: Online bank sites generally execute and confirm transactions at or

quicker than ATM processing speeds.

Efficiency: You can access and manage all of your bank accounts, including IRAs, CDs,

even securities, from one secure site.

Effectiveness: Many online banking sites now offer sophisticated tools, including account

aggregation, stock quotes, rate alerts and portfolio managing programs to help you manage

all of your assets more effectively. Most are also compatible with money managing

programs such as Quicken and Microsoft Money.

Time saving: Lot of precious time saved because of online banking, as transaction is carried

out in seconds.

Since every things computerized, we save all the paper work and save the trouble of

maintaining physically records. There is nothing manual hence the records are perfect and

accurate.

Banks also provide balance alerts if your balance reduces.

There are no extra charges for use of internet banking.

The customer can be offered more services through internet banking.

The internet banking cost less.

With the ability to view your account at any time, it is easier to catch fraudulent activity in

your account before much damage is done.

1.8Disadvantages of Online Banking:


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Start-up may take time: In order to register for your bank's online program, you will

probably have to provide ID and sign a form at a bank branch. If you and your spouse wish

to view and manage your assets together online, one of you may have to sign a durable

power of attorney before the bank will display all of your holdings together.

Learning curve: Banking sites can be difficult to navigate at first. Plan to invest some time

and/or read the tutorials in order to become comfortable in your virtual lobby.

Bank site changes: Even the largest banks periodically upgrade their online programs,

adding new features in unfamiliar places. In some cases, you may have to re-enter account

information.

The trust thing: For many people, the biggest hurdle to online banking is learning to trust

it. Did my transaction go through? Did I push the transfer button once or twice? Best bet:

always print the transaction receipt and keep it with your bank records until it shows up on

your personal site and/or your bank statement.

Security: Security is by far the biggest concern surrounding internet banks, with consumer

worrying that hackers will get into their account and spend their money.

Accessibility: You might find it difficult to get on to the internet at certain times of day

weekday evenings are more popular.

Consumer groups have asked the bank to provide a guarantee, similar to direct debit

guarantee, promising to return any funds straight away and investigate afterwards. So far

banks have refused, raising suspicions that they dont trust their own security systems.

The speed with which you access your account will also depend on the amount of memory

your computer has or the speed of modem.

Banks may need to shut down its website from time to time for maintenance.


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You will also need to have relevant operating system for the use of e banking. However,

banks may update the browser they use time to time, which means you will have to update

as well if you wont to access your account.

1.9 Different Forms of E Banking:

1.9.1 NET BANKING:

Net banking refers to an application of the Internet that allows customers to can dial into

bank networks or their websites, using their own telephones and computers, and to get a host of

banking services directly on their home or office PCs.

Net banking offers you armchair convenience and access to your account information from

anywhere in the world, at any time of the day or night. That means, as long as you have a computer,

a modem, a phone line and an Internet account, you don't need to worry about bank holidays or

taking time out to go to the bank, or standing in long queues for a simple transaction! You can

access most of the bank's services from the comfort of your home/office!!

Features:

Balance Inquiry.

Statement Request.

Bill Payment.

Cheque Book Request.

Fixed Deposit Inquiry.

Fund Transfer.

Customer support.


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Online Purchase.

Request a Demand Draft.

1.9.2 AUTOMATED TELLER MACHINES (ATM):

An unattended electronic machine in a public place, connected to a data system and related

equipment and activated by a bank customer to obtain cash withdrawals and other banking services.

Also called automatic teller machine, cash machine; also called money machine.

An automated teller machine orautomatic teller machine (ATM) is an electronic computerized

telecommunications device that allows a financial institution's customers to directly use a secure

method of communication to access their bank accounts, order or make cash withdrawals (or cash

advances using a credit card) and check their account balances without the need for a human bank

teller (orcashier in the UK). Many ATMs also allow people to deposit cash or cheques, transfer

money between their bank accounts, top up their mobile phones' pre-paid accounts 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 that contains his or her account number.

The customer then verifies their identity by entering a passcode, 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.

If the number is entered incorrectly several times in a row (usually three attempts per card

insertion), some ATMs will attempt retain the card as a security precaution to prevent an

unauthorized user from discovering the PIN by guesswork. Captured cards are often destroyed if the

ATM owner is not the card issuing bank, as noncustomer's identities cannot be reliably confirmed.


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The Indian market today has approximately more than 19,500 ATMs.

1.9.3 TELE BANKING:

Undertaking a host of banking related services including financial transactions from the

convenience of customers chosen place anywhere across the GLOBE and any time of date and night

has now been made possible by introducing on-line Telebanking services. By dialing the given

Telebanking number through a landline or a mobile from anywhere, the customer can access his

account and by following the user-friendly menu, entire banking can be done through Interactive

Voice Response (IVR) system. With sufficient numbers of hunting lines made available, customer

call will hardly fail. The system is bi-lingual and has following facilities offered.

Features:

Automatic balance voice out for the default account.

Balance inquiry and transaction inquiry of all term deposit accounts.

Statement of accounts by Fax, e-mail or ordinary mail.

Cheque book request.

Stop payment which is on-line and instantaneous.

Transfer of funds with CBS which is automatic and instantaneous.

Utility Bill Payment.

Renewal of term deposit which is automatic and instantaneous.

1.9.4 DEBIT CARD:


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A debit card (also known as a bank card orcheck card) is a plastic card that provides the

cardholder electronic access to his or her bank account(s) at a financial institution. Some cards have

a stored value with which a payment is made, while most relay a message to the cardholder's bank

to withdraw funds from a designated account in favor of the payee's designated bank account. The

card can be used as an alternative payment method to cash when making purchases. In some cases,

the cards are designed exclusively for use on the Internet, and so there is no physical card.

In many countries the use of debit cards has become so widespread that their volume of use has

overtaken or entirely replaced the check and, in some instances, cash transactions. Like credit cards,

debit cards are used widely for telephone and Internet purchases.

However, unlike credit cards, the funds paid using a debit card are transferred immediately from the

bearer's bank account, instead of having the bearer pay back the money at a later date.

Debit cards usually also allow for instant withdrawal of cash, acting as the ATM card for

withdrawing cash and as a check guarantee card. Merchants may also offer cash back facilities to

customers, where a customer can withdraw cash along with their purchase.

1.9.5 CREDIT CARD:

A credit card is a small plastic card issued to users as a system of payment. It allows its

holder to buy goods and services based on the holder's promise to pay for these goods and services.

The issuer of the card creates a revolving account and grants a line of credit to the consumer (or the

user) from which the user can borrow money for payment to a merchant or as a cash advance to the

user.

A credit card is different from a charge card: a charge card requires the balance to be paid in full

each month. In contrast, credit cards allow the consumers a continuing balance of debt, subject

to interest being charged. A credit card also differs from a cash card, which can be used like

currency by the owner of the card. Most credit cards are issued by banks.

Features:


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Cash Withdrawal.

Balance Inquiry.

Mini Statement.

Purchase.

Cheque Book Request.

Bill Payment.

Product Information.

Statement Request.

1.9.6 E-CHEQUE:

An e-Cheque is the electronic version or representation of paper Cheque.

The Information and Legal Framework on the E-Cheque is the same as that of the paper

cheques.

It can now be used in place of paper cheques to do any and all remote transactions.

An E-Cheque work the same way a Cheque does, the Cheque writer "writes" the e-Cheque

using one of many types of electronic devices and "gives" the e-Cheque to the payee

electronically. The payee "deposits" the Electronic Cheque receives credit, and the payee's

bank "clears" the e-Cheque to the paying bank. The paying bank validates the e-Cheque and

then "charges" the check writer's account for the check.

1.9.7 MOBILE BANKING:

Electronic banking is one of the most successful business- to-consumer applications in

electronic commerce (EC).


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Banks greatly support this not only because they could meet their customers need for convenience

but also because of the enormous economic impacts in replacing a high-cost channel (bank clerks)

through a low-cost channel (a central web server) for simple transactions, with the additional

benefit of eliminating the necessity for a media conversion.

Since users considered their mobile phone as a personal trusted device making it to an integral part

of their lives and more and more of these devices became Internet- enabled, the regular conclusion

was the transformation of banking applications to mobile devices as the next step of electronic

banking development.

For mobile banking, the advantages even go much further than for electronic banking: The high

penetration of mobile phones reaches all social levels; mobile applications disband the limitations

of electronic banking as they allow for a use anytime-anywhere and the subjective and objective

security of the device is higher than that of a personal computer. Despite all of this, more than four

years after the start of the first mobile banking applications customers simply do not use them and

utilization figures stay very far behind all expectations. Mobile banking as an established channel

still seems to be a distant prospect.

The reasons for this great disappointment are to be analyzed. Doing so in the following sections, we

do not intend to start with current applications (which could mean biased) but from scratch, with an

analysis of the customer requirements to such applications.

Customer requirements for Mobile Banking applications:

Technical requirements:

Usage is possible with both kinds of devices.

Adaptation to device.

Usage regardless of network operator.

Small amount of transmitted data.


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Usability requirements:

Possibility to work offline.

Simple data input method.

Resumption of usage at the same point.

One-Click-Request.

Design requirements:

Possibility to personalize the application.

Possibility to scale the application.

Announcement of events.

Wide range of functionality.

Security requirements:

Encrypted data transmission.

Authorization of access.

Simple Authorization.


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CHAPTER - 2

LITERATUREREVIEW


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Authors Setting(s)

/

Country

Study samples Instruments Analysis Key findings

Proenca

&

Rodrigue

s (2007)

Portugal Users and non-

users

Of self-servicetechnologies (ssts)

in banking

services.

Questionnaire

used scales

Hypothes

es testing

The results show that

Portuguese users of SST

banking services are likelyto be young to Middle-aged

individuals, with medium

to high levels of education.

Tao

Zhou

(2011)

China Users of the

mobile banking

Questionnaire &

Structural equationmodeling (SEM)

technology

Factor

Correlation

coefficie

nts &confirmat

ory factor

analysis(CFA)

The results indicate that

structural assurance andinformation quality are The

main factors affecting

initial trust, whereasinformation quality and

system quality Significantly

affect perceived usefulness.

Moham

mad

Ahmad

Al-

Hawari

(2010)

United

Arab

Emirates

Convenience

sample of people

who had alreadyused different

automated banking

services.

Measuring five

factors

(dimensions) ofAutomated service

quality

Confirma

tory

factoranalysis

(CFA) &

Hypothes

es testing

Most of the automated

factors have no direct

relationship with customercommitment, But an

indirect one through

customer trust and delight.

Ayo &

C.K

(2010)

Nigeria People usingdifferent e banking

services in the

southern part

Survey researchstrategy through

five point likert

scale

Hypotheses

testing,

Reliability &

Correlati

on

analysis

Perceived ease of use and perceived usefulness are

not Only antecedent to e-

banking acceptance, theyare also Factors to retain

customers to the use of e-

banking System such as

organizational reputation,perceived risk And trust.

Ganguli

& Roy

(2010)

India Under graduate

student of auniversity of the

USA

Online

Questionnaire

Confirma

toryfactor

analysis(CFA) &

Hypothes

es testing

Technology usage

easiness And reliabilityand technology

convenience are affectingcustomer loyalty

Significantly and positively

Joshua &

Koshy

(2011)

India Customers of

Some of the

leading banks inIndia who are

residing in the

selected metros.

Survey research

using a self-

completionQuestionnaire

Hypothes

es testing

From the respondents

100% were using ATMs,

68.2% were using internet banking services, 32.9%

were using Tele-banking

services and 27.1% wereusing mobile banking

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CHAPTER - 3

OBJECTIVES OF

THE STUDY


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Primary Objective:

To find out the effectiveness of E-Banking channels.

Secondary Objective:

To find out most preferred E-Banking channel.

To find out which services are used most frequently.

To find out if any customers are facing any common difficulty in using any of the E-

Banking channel.


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CHAPTER 4RESEARCH

METHODOLOGY


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4.1 Data collection:

Research approach :

Qualitative: Qualitative research includes interviews, focus groups, participant observations

and literature review.

Quantitative: Quantitative research includes controlled laboratory experiments, field work,

questionnaires and surveys.

Here Researcher has used both qualitative by literature review & quantitative by the

questionnaire.

Types of data required :

Primary data: The primary data are those data which are collected afresh and for the first

time, and thus happen to be original in character. The primary data can be obtained during

the course of doing research in a systematic manner with the help of questionnaires and

interviewing people.

Secondary data: The secondary data are those which have already been collected by

someone else. The nature of data collection work is merely that of collection and

compilation of information collected through various newspapers, magazines and internet.

Here Researcher has used both Primary data and Secondary data.


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Data Collection Method :

Primary data through Questionnaire &

Secondary data through literature review

Instruments used in the research:

A questionnaire based on the exploratory studies of Sproles [1985] and Sproles and Kendall [1986]

was used to measure effectiveness of the E-Banking channels in adipur and jamnagar. The

questionnaire is divided into two parts. The first part contains the twenty eight variables. Thisinstrument will have the following seven-point Likert scale: strongly disagree (1), disagree,

somewhat disagree, neither agree nor disagree, somewhat agree, agree, and strongly agree (7). The

second part is the personal information, which includes age, gender, education, occupation,

monthly income and types of account.


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4.2 Sampling design:

Types of Research Design:

- Research Design is A framework or blueprint for conducting research project.


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Research path followed by the researcher:


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Conclusive Research Design :

As the term suggests, conclusive research is meant to provide information that is useful in reaching

conclusions or decision-making. It tends to be quantitative in nature that is to say in the form of

numbers that can be quantified and summarized. It relies on both secondary data, particularly

existing databases that are reanalyzed to shed light on a different problem than the original one for

which they were constituted, and primary research, or data specifically gathered for the current

study.

The purpose of conclusive research is to provide a reliable or representative picture of the

population through the use of a valid research instrument. In the case of formal research, it will also

test hypothesis.

Conclusive research can be sub-divided into two major categories:

1. Descriptive or statistical research, and

2. Causal research

Descriptive Research Design :

Descriptive research provides data about the population being studied. But it can only describe the

"who, what, when, where and how" of a situation, not what caused it. Therefore, descriptive

research is used when the objective is to provide a systematic description that is as realistic and

accurate as possible.

One of its major limitations is that it cannot help determine what causes a specific behavior,

motivation or occurrence. In other words, it cannot establish a causal research relationship between

variables.


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Cross Sectional :

Cross-sectional surveys are used to gather information on a population at a single point in time.

This is most commonly used in marketing research. It gives a good overall picture of the position at

a given time.

Sample Survey :

The survey technique involves the collection of primary data about subjects, usually by selecting a

representative sample of the population or universe under study, through the use of a questionnaire.

It is a very popular since many different types of information can be collected, including attitudinal,

motivational, behavioral and perceptive aspects.

If properly designed and implemented, surveys can be an efficient and accurate means of

determining information about a given population. Results can be provided relatively quickly, and

depending on the sample size and methodology chosen.

Sampling design:

Target Population:

- Sampling Unit: All Age groups

- Extend of Research: The research is limited to Adipur and Jamnagar.

Probability sampling and Non Probability sampling

- Probability sampling: A probability sampling method is any method of sampling that

utilizes some form of random selection. In order to have a random selection method, you


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must set up some process or procedure that assures that the different units in your

population have equal probabilities of being chosen.

It includes simple random sampling, systematic sampling, stratified sampling, cluster sampling

- Non-Probability sampling:Non-probability sampling represents a group of sampling

techniques that help researchers to select units from a population that they are interested in

studying. Collectively, these units form the sample that the researcher studies.

It includes convenience sampling, judgment sampling, snowball sampling, quota sampling

Here Researcher has applied Non-Probability sampling, convenience sampling.

Sample size: 200 respondents.

4.3 Techniques of analysis:

Software used for data analysis:

- SPSS (17.0) & Microsoft excel (2010)

Statistical Test Used:

- Factor Analysis, Reliability, and Cross-tabulation.


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CHAPTER 5

ANALYSIS


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5.1 Reliability Analysis:

Reliability Statistics

Cronbach's Alpha N of Items

.836 62

Interpretation:-

Here Case Processing Summary table shows that out of 200 questionnaires, all 200 questionnaires

are included in the analysis. According to Pivot, Diener, Colvin and Sandvick(1991) the value of

Cronbach Alpha is 0.836. Since the value of Alpha is higher than the accepted alpha i.e. 0.70.So

that we can say that the instrument is reliable and can be used with other statistical procedure for

further analysis.


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5.2 Transaction Place:

Frequency Percent Valid Percent Cumulative

Percent

Bank Premises 59 29.5 29.5 29.5

E-Banking Service 141 70.5 70.5 100.0

Total 200 100.0 100.0

Here we have asked the questions that where would you like to do your banking transactions. We

can see that in the above chart 71% respondents has answered that they like to do through E-

banking and only 29% respondents say that they like to do at banking premises.


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5.3 Most Preferred E-Banking Service:

Frequency Percent Valid Percent Cumulative

Percent

Phone Banking 28 14.0 14.0 14.0

Net Banking 63 31.5 31.5 45.5

Mobile Banking 18 9.0 9.0 54.5

Debit/Credit Card 91 45.5 45.5 100.0

Total 200 100.0 100.0

Here we have asked the question that which is your most preferred E-Banking services. In the

above chart we can see that most usable services is Debit/Credit card i.e. 46% and then followed by

Net Banking services i.e. 31% and then at third place Phone Banking i.e. 14% and least is Mobile

Banking i.e. 9%. So, we can say that Debit/Credit card is mostly uses and followed by Net Banking

services. Phone banking and Mobile is not uses mostly.

5.4 Services Used in Phone Banking:


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Phone banking Frequencies

Responses Percent of Cases

N Percent

Phone Banking use Balance Inquiry 96 30.6% 81.4%

Statement Request 66 21.0% 55.9%

Bill Payment 48 15.3% 40.7%

Loss Cheque Book 34 10.8% 28.8%

Stop Cheque Payment 39 12.4% 33.1%

Product Information 31 9.9% 26.3%

Total 314 100.0% 266.1%

Here in the above chart we can see that Phone Banking services are mostly uses for Balance inquiry

(31%), Statement request (21%) and Bill Payments (15%). While the aggregate use of Stop cheque

payments and Product information and loss cheque book is only 33%.

5.5 Usage of Debit/Credit Card Services:


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Debit/Credit card Frequencies


N Percent

Debit/credit card Cash Withdrawal 126 27.8% 86.3%

Balance Inquiry 80 17.7% 54.8%

Purchase 102 22.5% 69.9%

Cheque Book Request 35 7.7% 24.0%

Mini Statement 76 16.8% 52.1%


Total 453 100.0% 310.3%

Here in the above chart we can see that Debit/Credit Card services are mostly uses for Cash

Withdrawal (28%), Purchases (22%), and Balance Inquiry (18%) and to get Mini Statement (17%).

While for Bill Payments (7%) and Cheque Book Request (8%) the use of Debit/Credit Card is less.

5.6 Uses of Net Banking Services:

Net Banking Frequencies



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N Percent

Net Banking use Balance Inquiry 106 21.4% 75.2%

Statement Request 57 11.5% 40.4%


Cheque Book Request 56 11.3% 39.7%

FD Inquiry 44 8.9% 31.2%Fund Transfer 85 17.1% 60.3%

Customer Support 39 7.9% 27.7%

Online Purchase 43 8.7% 30.5%

Total 496 100.0% 351.8%

Here in the above chart we can see that Net Banking services are mostly uses for Balance inquiry

(21%), Fund Transfer (17%), Bill Payments (13%) and Statement request (12%). While the

aggregate use of Cheque Book request, Fixed Deposit inquiry, Customer Support and Online

Purchase is only 37%.

5.7 Difficulties Faces by Users in the use of E-Banking Services:

Difficulties Frequencies


N Percent


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Difficulties Technical 74 35.1% 37.0%

Time Consuming 54 25.6% 27.0%

None 83 39.3% 41.5%

Total 211 100.0% 105.5%

Here we have asked a question that have you faced any difficulties in the use of the E-Banking

Services. We can see that in the above chart 39% respondents say that they not face any difficulties

at the time of uses of E-Banking services and 35% and 26% respondents say that they face

Technical difficulties and Time consuming respectively.

5.8 Factor Analysis:

KMO and Bartlett's Test

Kaiser-Meyer-Olkin Measure of Sampling Adequacy. .866

Bartlett's Test of Sphericity Approx. Chi-Square 1681.391


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Df 153

Sig. .000

Communalities

Initial Extraction

Easy Use 1.000 .775

Moving to Different Site 1.000 .725

Page Information 1.000 .639

Page Prepared 1.000 .574

Honesty of Site 1.000 .558

Security of Information 1.000 .581

Information About Debit/Credit Card 1.000 .686

Guidelines to Use Debit/Credit Card 1.000 .616

Security of Banking Transactions 1.000 .586

Cancelling Options 1.000 .651

Phone Number for Different Service 1.000 .574

Quickness of Transaction 1.000 .600

Accessibility 1.000 .682

Operates Immediately 1.000 .603

Transaction done Properly 1.000 .500

Alternative Information 1.000 .594

Solution of Problem 1.000 .574

Live Help 1.000 .433

Total variance explained

//


Component Extraction Sums of Squared Loadings Rotation Sums of Squared Loadings

Total % of

Variance

Cumulative

%

Total % of

Variance

Cumulative

%

1 7.393 41.070 41.070 3.264 18.135 18.135

2 1.298 7.211 48.281 2.904 16.132 34.267

3 1.167 6.486 54.767 2.779 15.437 49.704

4 1.092 6.066 60.832 2.003 11.128 60.832

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Component Matrix

Component

1 2 3 4

Page Information .770

Easy Use .755Quickness of Transaction .754

Security of Banking Transactions .730

Operates Immediately .727

Moving to Different Site .667

Accessibility .666

Security of Information .664

Page Prepared .630

Transaction done Properly .624

Honesty of Site .612

Information About Debit/Credit Card .611

Guidelines to Use Debit/Credit Card .595

Cancelling Options .592

Phone Number for Different Service .551

Solution of Problem .534

Live Help .506

Alternative Information


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Rotated Component Matrix

Component

1 2 3 4

Moving to Different Site .781

Easy Use .761

Phone Number for Different Service .598

Quickness of Transaction .562

Page Information .546

Live Help .535

Operates Immediately .524

Cancelling Options .773

Honesty of Site .678

Security of Banking Transactions .553

Security of Information .513

Guidelines to Use Debit/Credit Card .720

Information About Debit/Credit Card .716

Page Prepared .677

Accessibility .545

Alternative Information .728

Solution of Problem .684

Transaction done Properly

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Interpretation:

KMO is a measure of sampling adequacy and its value should be greater than 0.6 for our sample to

be adequate for undertaking factor analysis and also, the p-value of Bartletts test of sphericity

should be less than 0.05. in our finding the value of KMO test is 0.866(higher than 0.6) and the p-

value of Bartletts test is 0.000(less than 0.05), factor analysis can be undertaken using this dataset.

The Scree plot determines the optimal number of components. It plots eigenvalues of each

component. The numbers of components which fall on the steep slope are extracted because the

eigenvalues of those components are greater than 1. The components beyond the point where the

curve changes it direction and becomes horizontal (eigenvalues less than or equal to 1), contribute

very little to the variation and therefore, they can be eliminated. In our analysis, four components lie

on the steeper side of the curve and all others lie on the flat portion of the curve. Therefore, scree

plot suggests that optimal number of components is four.

The Component Matrix table shows that four components that are extracted. This is unrotated

component matrix.

Communalities mean the proportion of variance due to common factor shared by several items.

The Total Variance Explained table displays the total variance, percentage variance and cumulative

percentage variance for both unrotated and rotated components. The first half of the table shows


Component Transformation Matrix

Component 1 2 3 4

1 .579 .526 .508 .3612 -.354 -.504 .479 .626

3 .663 -.509 -.452 .311

4 -.315 .460 -.556 .617

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details of unrotated components and the second half shows the details of rotated components. The

cumulative percentage of variance unrotated as well as rotated components is always same.

The variables constituting component 1 are:

Moving to different areas of the site is easy.

Use of e-banking is easy and simple.

My website shows various phone numbers for different services.

It allows transactions to be conducted quickly.

Page of Net banking shows information efficiently.

In the case of problems, the site offers live help with a person.

This site initiates and operates immediately.


Easy options for cancelling transactions are provide.

The site is honest concerning its online transaction service.

My bank information is secured and protected by this site.

It secures information regarding my internet banking activities.


It shows guidelines about usage of Debit/Credit cards.

It provides good information about the Debit/Credit cards.


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Page of Net banking is well prepared and organized.

This site is always accessible for everyone.


Information is given on what to do if the transaction is not processes.

If, I found any problem then problem is short out quickly.

Thus, Bank should focus on these main four factors while launching an advertisement campaign to

increase the use of E-Banking services.

1. Accessibility

2. Privacy / Security

3. Preparedness

4. Responsiveness


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5.9 Cross tabulation of Gender and Preferred E-Banking service:

Gender * Preferred E-banking Cross tabulation

V8 Pref. E-banking Total

Phone

Banking

Net

Banking

Mobile

Banking

Debit/Credi

t Card

Gender Male Count 15 51 11 54 131

Expected Count 18.3 41.3 11.8 59.6 131.0

% within Gender 11.5% 38.9% 8.4% 41.2% 100.0%

% within V8 Pref.

E-banking

53.6% 81.0% 61.1% 59.3% 65.5%

% of Total 7.5% 25.5% 5.5% 27.0% 65.5%

Female Count 13 12 7 37 69

Expected Count 9.7 21.7 6.2 31.4 69.0

% within Gender 18.8% 17.4% 10.1% 53.6% 100.0%

% within V8 Pref.

E-banking

46.4% 19.0% 38.9% 40.7% 34.5%

% of Total 6.5% 6.0% 3.5% 18.5% 34.5%

Total Count 28 63 18 91 200

Expected Count 28.0 63.0 18.0 91.0 200.0

% within Gender 14.0% 31.5% 9.0% 45.5% 100.0%% within V8 Pref.

E-banking

100.0% 100.0% 100.0% 100.0% 100.0%

% of Total 14.0% 31.5% 9.0% 45.5% 100.0%

Interpretation:

The case Processing Summary table shows that there are no missing values. All 200 observations

were used for performing cross tabulation.


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There are 15 males preferred Phone Banking, 51 males preferred Net banking, 11 males Preferred

Mobile banking and 54 males preferred Debit/Credit Cards Service for their usage. There are 131

males out of 200 respondents. There are 13 females preferred Phone Banking, 12 females preferred

Net banking, 7 females Preferred Mobile banking and 37 females preferred Debit/Credit Cards

Service for their usage. There are totally 69 females out of 200 respondents.

In our analysis, out of 131 males, 11.5% preferred Phone Banking, 38.9% preferred Net banking,

8.4% preferred Mobile Banking and 41.2% preferred Debit/Credit Card Service.

In our analysis, out of 69 females, 18.8% preferred Phone Banking, 17.4% preferred Net banking,

10.1% preferred Mobile Banking and 53.6% preferred Debit/Credit Card Service.


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5.10 Cross tabulation of Gender and Banking Transaction Place:

Gender * Transaction Place Cross tabulation

V9 Trans. Place Total

Bank Premises E-BankingServices

Gender Male Count 35 96 131

Expected Count 38.6 92.4 131.0

% within Gender 26.7% 73.3% 100.0%

% within V9 Trans. Place 59.3% 68.1% 65.5%

% of Total 17.5% 48.0% 65.5%

Female Count 24 45 69


% within Gender 34.8% 65.2% 100.0%


% of Total 12.0% 22.5% 34.5%Total Count 59 141 200


% within Gender 29.5% 70.5% 100.0%


% of Total 29.5% 70.5% 100.0%

Interpretation:

The case Processing Summary table shows that there are no missing values. All 200 observations

were used for performing cross tabulation.

There are 96 males preferred to do transaction through E-Banking and 35males preferred to do

transaction through Bank premises. There are 131 males out of 200 respondents. There are 45

females preferred to do transaction through E-Banking and 24 females preferred to do transaction

through Bank premises. There are totally 69 females out of 200 respondents.

In our analysis, out of 131 males, 73.7% preferred to do transaction through E-Banking. And 26.7%

preferred to do transaction through bank premises. In our analysis, out of 69 females, 65.2%

preferred to do transaction through E-Banking. And 34.8% preferred to do transaction through bank

premises.


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CHAPTER 6

FINDINGS/

RESULTS


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Objective 1: To find out the effectiveness of E-Banking channels.

From the above analysis, We have concluded that almost 71% customer preferred to

do their banking transaction through E-Banking Channels whereas only 29% Customer

preferred to do their banking transaction through Banking premises.

Objective 2: To find out most preferred E-Banking channel.

Debit/Credit cards are the most preferred E-Banking Services because 46% customer

said that they mostly uses this service.

After Debit/Credit Card the second most preferred E-Banking service is Net

Banking as 31% uses these services whereas 14% customer preferred Phone Banking and

only 9% preferred Mobil Banking.

Objective 3: To find out which services are used most frequently.

In Debit/Credit Card Services transaction, Customer mainly use for Purchases and

Cash Withdrawal as around 50% uses for this Services.

In Net Banking Services, almost 20% customer uses for balance inquiry whereas

18% uses for fund transfer transaction.

Objective 4: To find out if any customers are facing any common difficulty in using any of the E-

Banking channel.

35% customer found sometime technical problem while using E-Banking Services

where as 26% customer found E-Banking Services as time consuming.


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CHAPTER - 7

LIMITATIONS


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Sample size is limited.

Time Constraints.

The scope of this research is limited to only 2 cities.


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CHAPTER - 8

CONCLUSION &

RECOMMENDATIONS


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After doing a detailed study about EFFECTIVENESS OF E-BANKING CHANNELS, we were

able to know different E-Banking products and services. Till now we were not aware about different

E-Banking Services and their various usages. But during our 2 months Final Project, we know

about various E-Banking channels and the services more used by the customers. We know about

most preferred E-Banking service is DEBIT/CREDIT Card followed by NET BANKING.

Some of the Recommendations from our side as per our understanding from this research are as

under:

Bank has to arrange various programmes for the customer to aware them about

usage of E-Banking Services.

Bank has to give all the necessary information regarding E-Banking services and

motivate the customer to use more E-Banking Services.

Increase in the advertisement of Mobile Banking service so customer knows more

about that service and use it and get benefit of that service.

Giving reward to the customer who is more using E-Banking Services.

Online feature specific help given to the customer who are using E-Banking

Services.


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CHAPTER 9

APPENDIX


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9.1 References

Joshua, A.J. & Kshoy, M. P. (2011). Ussage pattern of electronic banking services by urban

educated customers: Glimpses from India.Journal of Internet Banking and Commerce, 16

(1), e-journal.

Mermod, A.Y. (2011). Customers perspective and risk issue on e-banking in Turkey.

Journal of Internet Banking and Commerce, 16(1), e-journal.

Ombati, T.O., Magutu, P.O., Nyamwange, S.O. & Nyaoga, R.B.(2010). Technology and

Service Quality in the Banking Industries. African Journal of Business and Management,

1,151-164.

Khan, M. S. & Mahapatra, S.S.(2009). Service quality evaluation in internet banking:an

impirical study in India.Int. J. Indian Culture and Business Management, 2(1), 30-46.

Boon, O.H. & Yu C.M.(2003). Success factor in e-channel:the Malaysian banking scenario.

International Journal of bank marketing, 21,369-377.

Poon, W.C.(2008). Users adoption of e-banking services: the Malaysian

perspective.Journal of Business & Industrial Marketing, 23(1), 59-69.

Uppal R.K. (2011).Internet banking in India: Emerging risks and new dimensions. Prime

Journals businessadministration and management, 1(3), 73-81.


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Haque, A., Trofder, A., Rahman, H. & Raquib, A. (2009). Electronic transaction of internet

banking and its persception of Malaysian online customers. African journal of business

management, 3(6), 248-259.

Agboola A. A.2006 (2006). Electronic payment systems and Tele-banking services in

Nigeria.Journal of internet banking and commerce, 11(3), e-journal.

Kaleem A. & Kaleem S.A. (2008). Bankers perception of electronic banking in Pakistan.

Journal of internet banking and commerce, 13(1), e-journal.

Ortega B.H., Martinez J.J. & Hoyos J.M. (2007). An analysis of web navigability in Spanish

internet banking.Journal of internet banking and commerce, 12(3), e-journal.

Awamleh S. & Fernandes C. (2011). Internet banking: An imperical investigation into the

extent of adoption by banks and the determinants of customer satisfaction in the Unoted

Arab Emirates.Journal of internet banking and commerce, e-journal.

Amin H. (2007). Internet banking adoption among youth intellectuals. Journal of internet

banking and commerce, 12(3), e-journal.

Kassim N.M. (2011). E-banking service quality: gap in the Qatari banking industry. Journal

of internet banking and commerce, e-journal.

Amin H., Lada S., Hamid R.A. & Geoffrey H. (2005). A preliminary study on students

perception of SMS banking: A case at the Labuan international campus-university Malaysia

Sabah. Journal of internet banking and commerce, 10(3), e-journal.

Nor K.M. & Pearson J.M. (2007). The influence of trust on internet banking acceptance.

Journal of internet banking and commerce, 12(2), e-journal.


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Dauda Y., Santhapparaj A.S., Asirvatham D. & Raman M. (2007). The impact of e-

commerce security and national environment on consumer adoption of internet banking in

Malaysia and Singapore. Journal of internet banking and commerce, 12(2), e-journal.


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9.2 Questionnaire

Dear Respondents,

We are doing this research project on Effectiveness of E-Banking. Can you spend five minutes to

answer the following questions? This study is for academic purpose only. No information shall

be disclosed anywhere.

Section 1: (Please tick mark the answers with)

1) Are you having a Bank account?

Yes No

2) Do you use any e-banking services?

Yes No

3) Which of the e-banking channels are you aware of?

Phone Banking Net Banking

Mobile Banking Debit/Credit Card

4) Which e-banking channels are you using?



5) Which of the below services have you tried in Phone Banking?

Balance Inquiry Statement Request

Loss Cheque Book Stop Cheque PaymentProduct Information Bill Payment

None

6) Which of the below services have you tried in International Debit Card/ Credit card?


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Cash Withdrawal Balance Inquiry

Cheque Book Request Purchase

Mini Statement Bill Payment

None

7) Which of the below services have you tried in Net Banking?

Balance Inquiry Statement RequestCheque Book Request Online Purchases

Customer Support Bill Payment

FD Inquiry Funds Transfer None

8) Which is your most preferred e-banking channel?



9) Where would you like to do your banking transactions?

Bank Premises e-banking

10) Have you faced any difficulty in any of the specified services? If yes, what type of

difficulty?

Technical Time Consuming None

The following set of statements relate to your feelings about E-banking services provided

by your bank. Using the scale below, please indicate the extent to which you agree or

disagree with the following statements about website. Write the number (indicating youragreement or disagreement) beside the statements.

1

Strongly

Disagree

2

Disagree3

Somewhat

Disagree

4

Neither agree/

Nor Disagree

5

Somewhat

agree

6

Agree7

Strongly

Agree


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Sr. No. Statements Number

1 Use of e-banking is easy and simple.

2 Moving to different areas of the site is easy.

3 Page of Net banking shows information efficiently.

4 Page of Net banking is well prepared and organized.

5 The site is honest concerning its online transaction service.6 It secures information regarding my internet banking activities.

7 It provides good information about the Debit/Credit cards.

8 It shows guidelines about usage of Debit/Credit cards.

9 My bank information is secured and protected by this site.

10 Easy options for cancelling transactions are provide.

11 My website shows various phone numbers for different services.

12 It allows transactions to be conducted quickly.

13 This site is always accessible for Everyone

14 This site initiates and operates immediately.

15 My transaction is done properly.

16 Information is given on what to do if the transaction is not processes.17 If, I found any problems than problem is short out quickly.

18 In the case of problems, the site offers live help with a person.

Section- II.

Gender: (1) Male (2) Female

Age: (1) Below 25 (2) 26-35 years

(3) 36-45 year (4) 46-55years

(5) Above 55 years

Education: (1) Undergraduate (2) Graduate

(3) Post-graduate

Occupation: (1) Service (2) Business

(3) Student (4) Housewife

(5) Other, please specify ____________________

Monthly Income: (1) Below Rs. 10000/- (2) Rs.10000- below20000/-

(3) Rs20000- below 30000 (4) Rs 30000- below 40000/-

(5) Rs. 40,000 and above

Types of Account: (1) Saving (2) Current

(3) Others, please specify ____________________


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Thanks for your co-operation

final f p - 31,37

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