online banking project2
TRANSCRIPT
MATHEMATICS AND STATISTICS.
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SYMBIOSIS COLLEGE OF ARTS AND COMMERCE.
FY BCOM(E)
Assignment submitted on
Assignment submitted to:- MRS.
ASSIGNMENT N0. 1
TOPIC OF THE PROJECT :- ONLINE BANKING
What is ONLINE BANKING?
Online banking is an electronic payment system that enables customers of a financial institution to conduct financial transactions on a website operated by the institution, such as a retail bank, virtual bank, credit union or building society.
Online banking is also referred as Internet banking, e-banking, virtual banking and by other terms.
PIE Graph showing major share of online banking.
When did the term online banking become popular? The term online became popular in the late '80s
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 services started in New York in 1981 when four of the city's major banks (Citibank, Chase Manhattan, Chemical and Manufacturers Hanover) offered home banking services using the videotex system .
Security Measures :- Security of a customer's financial information is very important, without which
online banking could not operate. Financial institutions have set up various security processes to reduce the risk of unauthorized online access to a customer's records, but there is no consistency to the various approaches adopted.
The use of a secure website has become almost universally adopted.
Though single password authentication is still in use, it by itself is not considered secure enough for online banking in some countries. Basically there are two different security methods in use for online banking.
The PIN/TAN system where the PIN represents a password, used for the login and TANs representing one-time passwords to authenticate transactions. TANs can be distributed in different ways, the most popular one is to send a list of TANs to the online banking user by postal letter. Another way of using TANs is to generate them by need using a security token. These token generated TANs depend on the time and a unique secret, stored in the security token (two-factor authentication or 2FA).
Various Online Banking Facilities
The percentage of online banking in various continents.
What is meant by RTGS and NEFT?
RTGS- This stands for Real Time Gross Settlement. In this type of funds transfer system the funds are settled on a Real Time and Gross Basis. The funds transfer are processed individually and on a continuous basis. There is no upper ceiling for an RTGS transaction.
NEFT- This stands for National Electronic Funds Transfer. In this system the funds are settled in batches. In this system one need not have a bank account however in case one does not have a bank account the maximum amount that can be transferred is 49,999.
What is Inter Bank Transfer?
Inter Bank Transfer enables electronic transfer of funds from the account of the remitter in one Bank to the account of the beneficiary maintained with any other Bank branch.
There are two systems of Inter Bank Transfer - RTGS and NEFT. Both these systems are maintained by Reserve Bank of India....
What is meant by CBS?
The term CBS stands for “CORE BANKING SOLUTION”.
Under this system a customer becomes a member of a bank rather than a member of a bank branch.
The bank with a CBS facility provides many facilities such as updating of passbook at all branches of the same bank.
The bank also provides a Unique ID to it’s customers with the help of which the customer can operate the same account all over.
This facility is available only in banks which have CBS facility.
THE STATE BANK OF INDIA.
SBI- World of Online Banking.
{Q} What is “ Online SBI”?
It is an internet banking service optimized for browsers. Users can connect to SBI at https://m.onlinesbi.com. This service is available for Retail, Khata and Saral users.
How can one remit money through IMPS ?
(a)Log on to 'www.onlinesbi.com'(b)Visit 'Profile' section and click on Manage Beneficiary.(c) Select 'IMPS Beneficiary'(d) Add details for the beneficiary(e) Approve the beneficiary using OTP (one time password) received on your registered mobile number.
SBI-InstaPay / SBI-OxiPay
Mobile Top-up
DTH Recharge
Toll Recharge
Broadband Recharge
Bill (Utility) Payments
Movies, Music & Sports
Graphical representation of amount transacted in Net Banking.
8 Golden Rules to make your Internet Banking experience safe
and secure. 1. Change your Password at regular intervals 2. Help SBI in preventing frauds (phishing) by reporting such
incidents to [email protected] 3. Access portal by typing
https://www.onlinesbi.com Do not click on any shortcuts/links 4. Avoid accessing your account from public places like cyber
cafes 5. Use virtual keyboard to enter user ID and Password 6. Avoid entering sensitive info in pop-ups 7. Track your transactions and usage history regularly 8. Use latest and genuine software on your system with secure
settings
Bulk transaction through file upload.
Inter and Intra Bank fund transfers- Example Salary Payments, Vendor Payments, etc.
Request for issue of demand drafts
Tax payments- CBDT and CBEC
Direct debit whereby suppliers debit the account of the dealers
Beneficiary- addition and deletion
Billers registration
Top up of pre paid cards
SBI:- Record of the INB transactions.
Introduction of EFTS has helped in aspects such as:-
(1)Transactions are made on due dates.
(2)There is no mishandling of cash.
(3) Transactions are effortless.
(4) There is no cash loss in transit.
(5)Customer satisfaction is guaranteed.
Survey depicting percentage increase of the users in mobile and internet banking.
Assignment submitted by:
1. SHASHWAT SHUKLA (4839)
2. AVANT SURANA (4922)
3. SIDDHANT SIOTIA (4870)
4. AMAN BAKLIWAL (4805)
5. KALPIT BAKLIWAL (4806)
END
THANK YOU.