EXECUTIVE SUMMARY

The Project Title “Role of Technology in Thane Bharat Sahakari Bank” was assigned to
me by my project guide based on my interest and knowledge to learn about the Technology and
work in Financial Services (Banking) Industry. The project included, understand about the
Technology provided by the Banks in India and also the Technology of the Thane Bharat
Sahakari Bank and analyze their performance based on the feedback from the employees as well
as the customers of the bank.

The report deals with the clear understanding of the Technology used in the Thane Bharat
Sahakari Bank. It only explains the basic concepts of the various technology used by in the
banking sector nowadays.

The first part of my project involves the basic study of Technology used in Indian
Banking Sectors. It also explains the Objectives of the Technology in the Bank, Research
Methodology, Scope of the Technology in the Bank, Importance of the Technology in the Bank
and Limitation of the Technology in Bank.

Further I have continued my project by studying about the software used in the Thane
Bharat Sahakari Bank i.e., OMNI Enterprise that gives the Core Banking Solutions to the bank
and also a study about the Mobile Banking services provided by the bank.

I have also made Data Analysis and Interpretation based on the questionnaires collected
from the employees as well as the customers of the bank, based on the data I have made an
graphical analysis of the technology used by the bank and what people think of these technology
and services provided by the bank.

To complete my project, I have done with the errors and findings on the technology of
the bank and also made some suggestions to improve the system of the technology used by the
bank.

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2.1 Introduction :-

Technology has brought a complete paradigm shift in the functioning of banks and
delivery of banking services. Gone are the days when every banking transactions required a visit
to bank branch. Today, most of the transactions can be done from home and customers need not
visit the bank branch for anything. Technology is no longer enabler, but a business driver. The
growth of Internet, Mobiles and Communication Technology has added different dimension to
banking. The Information Technology (IT) available today is being leveraged in customers
acquisitions, driving automation and process efficiency, delivering ease and efficiency to
customers.

The increased penetration and impact on the scale of the business can be judged from
metrics such as deposits and credit per account, which according to RBI data was INR 6,412 and
INR 20,757 in 1992 and INR 19,898 and INR 84,618 in 2000 --- these metrics increased to INR
59,217 and INR 2,58,751 in 2009, respectively, approximately thrice the levels in 2000 and 10
times the levels in 1992.

Many of the IT initiatives of bank started in late 1990’s or early 2000 with an emphasis
on the adoption of Core Banking Solutions (CBS), automation of the branches and
centralization of operations in CBS. Over the last decade, most of the banks completed the
transformation to technology—driven organizations. Moving from manual, self constrained
environment to a global presence with automated systems and processes, it is difficult envisage
the adverse scenario, the sector was in the era before reforms, when a simple deposit or
withdrawal of cash would require a day. ATMs, Mobile Banking and Online bill payments
facilities to vendors and utility service providers have almost obviated the need of customers to
visit the branch. Branches are also transforming from operating as transaction processing points
into relationship management hubs. The change has been very productive for banks bringing in
an increase in productivity and operational efficiency to be more competitive. Better risk
management due to centralization of information and real time availability of critical data for
decision making.

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 With most of the banks being technology—enabled, the focus is shifting to
computerizing Regional Rural Banks (RRBs). In addition, banks are moving towards decision
making and business intelligence software and trying to optimize the IT infrastructure created.

With the globalization trends world over it is difficult for any nation big or small,
developed or developing, to remain isolated from what is happening around. For a country like
India, which is one of the most promising emerging markets, such isolation is nearly impossible.
More particularly in the area of Information technology, where India has definitely an edge over
its competitors, remaining away or uniformity of the world trends is untenable. Financial sector
in general and banking industry in particular is the largest spender and beneficiary from
information technology. This endeavours to relate the international trends in it with the Indian
banking industry.

The last lot includes possibly all foreign banks and newly established Private sector
banks, which have fully computerized all the operations. With these variations in the level of
information technology in Indian banks, it is useful to take account of the trends in Information
technology internationally as also to see the comparative position with Indian banks. The present
article starts with the banks perception when they get into IT up gradation.

IT has helped the banking industry to deal with the challenges the new economy poses.
More than most other industries, financial institutions rely on gathering, processing, analyzing,
and providing information in order to meet the needs of customers. Given the importance of
information in banking, it is not surprising that banks were among the earliest adopters of
automated information processing technology. Technology has opened up new markets, new
products, new services and efficient delivery channels for the banking industry. Online
electronics banking, mobile banking and internet banking are just a few examples. Information
Technology has also provided banking industry with the wherewithal to deal with the challenges
the new economy poses. Information technology has been the cornerstone of recent financial
sector reforms aimed at increasing the speed and reliability of financial operations and of
initiatives to strengthen the banking sector. The IT revolution has set the stage for unprecedented

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increase in financial activity across the globe. The progress of technology and the development
of worldwide networks have significantly reduced the cost of global funds transfer. It is
information technology which enables banks in meeting such high expectations of the customers
who are more demanding and are also more techno-savvy compared to their counterparts of the
yesteryears. They demand instant, anytime and anywhere banking facilities. IT has been
providing solutions to banks to take care of their accounting and back office requirements. Many
banks have modernized their services with the facilities of computer and electronic equipments.
The electronics revolution has made it possible to provide ease and flexibility in banking
operations to the benefit of the customer. The e-banking has made the customer say good-bye to
huge account registers and large paper hank accounts. The e-banks, which may ‘ call as easy
bank offers the following services to its customers like Credit Cards/Debit Cards, ATM, E-
Cheques, EFT (Electronic Funds Transfer), DEMAT Accounts, Mobile Banking, Telephone
Banking, Internet Banking, EDI (Electronic Data Interchange).The banking system is slowly
shifting from the traditional banking towards relationship banking. Traditionally the relationship
between the bank and its customers has been on a one-to-one level via the branch network. This
was put into operation with clearing and decision making responsibilities concentrated at the
individual branch level. The head office had responsibility for the overall clearing network, the
size of the branch network and the training of staff in the branch network. The bank monitored
the organization’s performance and set the decision making parameters, but the information
available to both branch staff and their customers was limited to one geographical location. And
it is now changing the way how banks are delivering services to their customers. However this
technology comes at a cost, implementing all this technology has been expensive but the rewards
are limitless.

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2.2 Objectives of the Study :-

The Banking System of India should not only be hassle free but it should be able to meet
new challenges posed by the technology and any other external and internal factors.

The information system is paramount concern to the banks in today’s business

environment. The business of cooperative bank has increased phenomenally in recent years due
to sharp increase in urban cooperative banks. This exponential growth of Cooperative Banks of
India is attributed mainly to their much better local reach, personal interaction with customers,
and their ability to catch the nerve of local clientele. A software development methodology refers
to the framework that is used to structure, plan and control the process of developing an
information system. Each of the available methodologies and techniques are best suited to
specific kinds of projects, based on various technical, organizational and available resources.

With reference to above relevant information the main objective is to study induction of
IT tools in urban cooperative banks in light with software engineering concept. With the help of
this initial information of the following are some of the objective of the study :-

 To assess the role of Information Technology in Public Sector Banks, Private Sector
Banks and Foreign Banks.

 To assess the perception of the Bank Employees towards the Implementation of

Information Technology in the Banks.

 To assess the Perception and Satisfaction of the Customers with the Bank.

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2.3 Research Methodology :-

Research Methodology decides the territory of proposed study and gives information to the
readers about adopted process of analysis for the respective study. This includes aims for which the
study is undertaken. This also clarify time, scope, data sources etc. of proposed study. Another
significant aspect is tools and techniques which are used for the study. In brief this chapter helps to the
researcher to decide his path of research work.

2.3.1 Research Type :-

There are many research types when it comes to researching something and making a
research paper out of it. There are two major research types that helps us to make the research
more simplistic and more sophisticated and it becomes easy for us to arrive at the conclusion.
The research types are as follows :-

(A) Qualitative Research :-

A study based upon a qualitative process of inquiry has the goal of understanding a
social or human problem from multiple perspectives. Qualitative research is conducted in a
natural setting and involves a process of building a complex and holistic picture of the
phenomenon of interest. We will explore some of the issues and challenges associated with
qualitative research in this section.

(B) Quantitative Research :-

Quantitative research is inquiry into an identified problem, based on testing a theory,

measured with numbers, and analyzed using statistical techniques. The goal of quantitative
methods is to determine whether the predictive generalizations of a theory hold true. We will
explore some of the issues and challenges associated with quantitative research in this section.
Seek the advice of faculty members who have conducted quantitative studies for advice, support
and encouragement.

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2.3.2 Data Collection :-

Data collection is the process of gathering and measuring information on targeted

variables in an established systematic fashion, which then enables one to answer relevant
questions and evaluate outcomes. Data collection is a component of research in all fields of study
including physical and social sciences, humanities, and business. While methods vary by
discipline, the emphasis on ensuring accurate and honest collection remains the same. The goal
for all data collection is to capture quality evidence that allows analysis to lead to the formulation
of convincing and credible answers to the questions that have been posed.

(A) Primary Data :-

Primary data is information that you collect specifically for the purpose of your
research project. An advantage of primary data is that it is specifically tailored to your
research needs. A disadvantage is that it is expensive to obtain.

Primary data was collected by filling questionnaires from respondents through a

one to one survey method. The respondents were from different age groups above 18
years and who are earning.

(B) Secondary Data :-

Secondary data refers to data that was collected by someone other than the
user. Common sources of secondary data for social science include censuses,
information collected by government departments, organizational records and data that
was originally collected for other research purposes. Primary Data, by contrast, are
collected by the investigator conducting the research.

Secondary data analysis can save time that would otherwise be spent collecting
data and, particularly in the case of quantitative data, can provide larger and higher-
quality databases that would be unfeasible for any individual researcher to

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collect on their own. In addition, analysts of social and economic change consider
secondary data essential, since it is impossible to conduct a new survey that can
adequately capture past change and/or developments. However, secondary data
analysis can be less useful in marketing research, as data may be outdated or
inaccurate.

For this project the secondary data was collected regarding various sources and
also with the collaboration of the Bank Employees of Thane Bharat Sahakari Bank in
Ghatkopar (East).

Population :-

The population includes the individuals that use the technology on the daily basis
that is the employees working in the bank and also the customers using the technology
in day to day life.

Sample Size :-
Sample size determination is the act of choosing the number of observations
or replicates to include in a statistical sample. The sample size is an important feature
of any empirical study in which the goal is to make inferences about
a population from a sample. In practice, the sample size used in a study is determined
based on the expense of data collection, and the need to have sufficient statistical
power. In complicated studies there may be several different sample sizes involved in
the study: for example, in a stratified survey there would be different sample sizes for
each stratum. In a census, data are collected on the entire population, hence the
sample size is equal to the population size. In experimental design, where a study may
be divided into different treatment groups, this may be different sample sizes for each
group.
The sample size for this research project is 20, this also includes the employees and
the customers of Thane Bharat Sahakari Bank.

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2.3.3 Sampling Techniques :-

Sampling is concerned with the selection of a subset of individuals from within

a statistical population to estimate characteristics of the whole population. Two advantages of
sampling are that the cost is lower and data collection is faster than measuring the entire
population. In this research project the sampling technique that is used is Stratified Sampling.

(A) Stratified Sampling :-

Stratified Sampling is possible when it makes sense to partition the population

into groups based on a factor that may influence the variable that is being measured.
These groups are then called strata. An individual group is called a stratum.
With stratified sampling one should:
 partition the population into groups (strata)
 obtain a simple random sample from each group (stratum)
 collect data on each sampling unit that was randomly sampled from each
group (stratum)
Stratified sampling works best when a heterogeneous population is split into fairly
homogeneous groups. Under these conditions, stratification generally produces more
precise estimates of the population per cents than estimates that would be found from a
simple random sample. The following table will show the stratified sample of this
research project :-

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 Stratified Samples
All the employees and customers of
Population Thane Bharat Sahakari Bank in
Ghatkopar Branch
The groups are divided in 2 parts i.e.,
Groups 1. Employees
2. Customers
Obtain a Simple Random Sample 10 people from each of the groups
Sample 10*2 = 20 selected people
Table No. 1

2.4 Scope of the Study :-

In the present scenario major economical and technical changes are undergoing in
industrial and financial revolution through the new information-processing technology.
Especially in Finance sector it has a significant role for overall development. After identifying
the subject (research area) and referring the relevant literatures, it has been found that in most of
the literature, the information technologies have a wide application area. However, in Finance
sector major changes have been made. Due to these drastic changes we have chosen to do the
study on role of technology in banking system.
After completing step by step procedure for automation process, now it is required to take
the review of the system. People used information technological tools to manage and process the
information. Automation process use in the financial sector for transaction system. This type of
working methodology is used in the financial Institute since long years. The Urban Co-operative
bank sector is mostly related to all classes of people like businessmen, industry, agriculture,
labor, small entrepreneurs, workers etc.
It has been changing complete culture and working methodology. Therefore, it has a wide
scope to study the existing modern transaction system in the financial sector mainly in urban
cooperative bank system. For that purpose we are going to utilize software engineering model
based techniques for theoretical evaluation of automation process.

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 In the literature survey it has been found that the software engineering technology has
monopoly for the development of software product and it is observed that such technology is not
used for study purpose in any other different field. This helps to create a better software for the
banking sector using the help of various experienced individuals in banking sector.
There is a slow growth in banking sector as they have been imposing online payment
systems by using the apps they create and encourage the customers to perform the transactions
online after demonetization. There are various facilities provided by the banks such as opening
of bank account through online procedure and submitting the documents online by uploading
them in their database through the use of the apps. Even the Debit cards and Credits cards are
provided online for making the transaction simple.
The Banks are slowly moving towards the technological area and they are using many
marketing policies to execute the process to gain the customers trust so that they can provide
better services to them. The banks are assuring the customers by showing all the securities
provided by the bank while performing the online transaction.
The Scope of the Technology in banking sector is growing rapidly and it is becoming
more and more reliable and simple to customers as it does not consume the time as it did before
and the Banks provide better performance depending on the Hardware and Software they use for
making the optimum use of their utilities.

2.5 Importance of the Study :-

Banking environment has become highly competitive today. To be able to survive and
grow in the changing market environment banks are going for the latest technologies, which is
being perceived as an ‘enabling resource’ that can help in developing learner and more flexible
structure that can respond quickly to the dynamics of a fast changing market scenario. It is also
viewed as an instrument of cost reduction and effective communication with people and
institutions associated with the banking business.

The Software Packages for Banking Applications in India had their beginnings in the
middle of 80s, when the Banks started computerizing the branches in a limited manner. The early

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90s saw the plummeting hardware prices and advent of cheap and inexpensive but high powered
PC’s and Services and banks went in for what was called Total Branch Automation (TBA)
packages. The middle and late 90s witnessed the tornado of financial reforms, deregulation
globalization etc. coupled with rapid revolution in communication technologies and evolution of
novel concept of convergence of communication technologies, like internet, mobile/cell phones
etc. Technology has continuously played on important role in the working of banking institutions
and the services provided by them. Safekeeping of public money, transfer of money, issuing
drafts, exploring investment opportunities and lending drafts, exploring investment being
provided.

Information Technology enables sophisticated product development, better market

infrastructure, implementation of reliable techniques for control of risks and helps the financial
intermediaries to reach geographically distant and diversified markets. Internet has significantly
influenced delivery channels of the banks. Internet has emerged as an important medium for
delivery of banking products and services.

The customers can view the accounts; get account statements, transfer funds and
purchase drafts by just punching on few keys. The smart card’s i.e., cards with micro processor
chip have added new dimension to the scenario. An introduction of ‘Cyber Cash’ the exchange
of cash takes place entirely through ‘Cyber-books’. Collection of Electricity bills and telephone
bills has become easy. The upgradeability and flexibility of internet technology after
unprecedented opportunities for the banks to reach out to its customers. No doubt banking
services have undergone drastic changes and so also the expectation of customers from the banks
has increased greater.

IT is increasingly moving from a back office function to a prime assistant in increasing

the value of a bank over time. IT does so by maximizing banks of pro-active measures such as
strengthening and standardizing banks infrastructure in respect of security, communication and
networking, achieving inter branch connectivity, moving towards Real Time gross settlement
(RTGS) environment the forecasting of liquidity by building real time databases, use of

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 Magnetic Ink Character Recognition and Imaging technology for cheque clearing to name a few.
Indian banks are going for the retail banking in a big way.

The key driver to charge has largely been the increasing sophistication in technology and
the growing popularity of the Internet. The shift from traditional banking to e-banking is
changing customer’s expectations.

E-Banking :-

E-banking made its debut in UK and USA 1920s. It becomes prominently popular during
1960, through electronic funds transfer and credit cards. The concept of web-based baking came
into existence in Europe and USA in the beginning of 1980.

In India e-banking is of recent origin. The traditional model for growth has been through
branch banking. Only in the early 1990s has there been a start in the non-branch banking
services. The new private sector banks and the foreign banks are handicapped by the lack of a
strong branch network in comparison with the public sector banks. In the absence of such
networks, the market place has been the emergence of a lot of innovative services by these
players through direct distribution strategies of non-branch delivery. All these banks are using
home banking as a key “pull’ factor to remove customers away from the well entered public
sector banks.

Many banks have modernized their services with the facilities of computer and electronic
equipment. The electronics revolution has made it possible to provide ease and flexibility in
banking operations to the benefit of the customer. The e-banking has made the customer say
good-bye to huge account registers and large paper bank accounts. The e-banks, which may call
as easy bank offers the following services to its customers:

 Credit Cards/Debit Cards

 ATM
 E-Cheques

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 EFT (Electronic Funds Transfer)
 DeMAT Accounts
 Mobile Banking
 Telephone Banking
 Internet Banking
 EDI (Electronic Data Interchange)

Benefits of E-banking :-

To the Customer :-

 Anywhere Banking no matter wherever the customer is in the world. Balance enquiry, request
for services, issuing instructions etc., from anywhere in the world is possible.
 Anytime Banking – Managing funds in real time and most importantly, 24 hours a day, 7days
a week.
 Convenience acts as a tremendous psychological benefit all the time.
 Brings down “Cost of Banking” to the customer over a period a period of time.
 Cash withdrawal from any branch / ATM
 On-line purchase of goods and services including online payment for the same.

To the Bank :-

 Innovative, scheme, addresses competition and present the bank as technology driven in the
banking sector market
 Reduces customer visits to the branch and thereby human intervention
 Inter-branch reconciliation is immediate thereby reducing chances of fraud and
misappropriation
 On-line banking is an effective medium of promotion of various schemes of the bank, a
marketing tool indeed.
 Integrated customer data paves way for individualized and customized services.

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 Impact of IT on the Service Quality :-

The most visible impact of technology is reflected in the way the banks respond strategically
for making its effective use for efficient service delivery. This impact on service quality can be
summed up as below:

 With automation, service no longer remains a marketing edge with the large banks only. Small
and relatively new banks with limited network of branches become better placed to compete
with the established banks, by integrating IT in their operations.
 The technology has commoditizing some of the financial services. Therefore the banks cannot
take a lifetime relationship with the customers as granted and they have to work continuously
to foster this relationship and retain customer loyalty.
 The technology on one hand serves as a powerful tool for customer servicing, on the other
hand, it itself results in depersonalizing of the banking services. This has an adverse effect on
relationship banking. A decade of computerization can probably never substitute a simple or a
warm handshake.
 In order to reduce service delivery cost, banks need to automate routine customer inquiries
through self-service channels. To do this they need to invest in call centers, kiosks, ATM’s
and Internet Banking today require IT infrastructure integrated with their business strategy to
be customer centric.

Impact of IT on Banking System :-

The banking system is slowly shifting from the Traditional Banking towards relationship
banking. Traditionally the relationship between the bank and its customers has been on a one-to-
one level via the branch network. This was put into operation with clearing and decision making
responsibilities concentrated at the individual branch level. The head office had responsibility for
the overall clearing network, the size of the branch network and the training of staff in the branch
network. The bank monitored the organization’s performance and set the decision making

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parameters, but the information available to both branch staff and their customers was limited to
one geographical location.

Traditional Banking Sector :-

Figure No. 1

The modern bank cannot rely on its branch network alone. Customers are now
demanding new, more convenient, delivery systems, and services such as Internet banking have a
dual role to the customer. They provide traditional banking services, but additionally offer much
greater access to information on their account status and on the bank’s many other services. To
do this banks have to create account information layers, which can be accessed both by the bank
staff as well as by the customers themselves.

The use of interactive electronic links via the Internet could go a ling way in providing
the customers with greater level of information about both their own financial situation and about
the services offered by the bank.

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 The New Relationship Oriented Bank :-

Figure No. 2

Impact of IT on Privacy and Confidentiality of Data :-

Data being stored in the computers, is now being displayed when required on through internet
banking mobile banking, ATM’s etc. all this has given rise to the issues of privacy and
confidentially of data are:

 The data processing capabilities of the computer, particularly the rapid throughput, integration,
and retrieval capabilities, give rise to doubts in the minds of individuals as to whether the
privacy of the individuals is being eroded.
 So long as the individual data items are available only to those directly concerned, everything
seems to be in proper place, but the incidence of data being cross referenced to create detailed
individual dossiers gives rise to privacy problems.
 Customers feel threatened about the inadequacy of privacy being maintained by the banks
with regard to their transactions and link at computerized systems with suspicion.

Aside from any constitutional aspect, many nations deem privacy to be a subject of human
right and consider it to be the responsibility of those who concerned with computer data
processing for ensuring that the computer use does not revolve to the stage where different data

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about people can be collected, integrated and retrieved quickly. Another important responsibility
is to ensure the data is used only for the purpose intended.

2.6 Limitation of the Study :-

Every technology has its advantages and disadvantages, and advances in banking are no
different. Accessing your money through an automatic teller machine (ATM) anytime you like is
convenient. On the other hand, that freedom can allow easier access to your money for someone
who has stolen your ATM card. These changes are here to stay, so you'll want to understand the
benefits and drawbacks of banking technology to figure out how best to deal with them.

Online Banking :-

Online banking empowers you to pay bills and transfer money without leaving your
living room. Unfortunately, it also allows new ways for criminals to seize control of your bank
accounts and other information associated with them. If a criminal finds out your online banking
log-in information, for example, he can make money transfers and can probably find other
numbers you don't want him to have. If this happens, the Federal Trade Commission provides
guidance as to how you should deal with this kind of theft.

Fast Credit :-

Advanced banking technology allows you to arrange for credit faster than in the past.
Decades ago, obtaining credit was purely a paper-based process. Today consumers can acquire
credit lines instantly. While many people enjoy the convenience of getting a car loan or store
credit card within minutes, the temptation can lead them to borrow money they can't afford.

RFID Payment :-

Thanks to Radio-Frequency Identification (RFID) technology, you can pay for goods or
services by simply waving your debit or credit card in front of a reader. The RFID chip inside the
card broadcasts bank information wherever you go, which can be quite convenient; for example,
instead of having to go into the gas station to pay, you can simply make sure your wallet is close

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enough to the reader. Scammers can get that information if they have their own scanner.

Website Interruption :-

Many consumers become reliant upon technology to pay bills or conduct other kinds of
banking transactions. Ideally, this is a beneficial arrangement. For example, if you forget a credit
card payment, you don't need to worry about whether your paper check will get to your credit
card company in time. You simply log on and make your payment. If the bank's website suffers
an interruption, however, you may be unable to send payments to creditors, incurring late fees or
other consequences. Unfortunately, websites experience downtime on occasion.

Server Problem :-

The Server problems can be caused due to lack of weekly maintenance of the software
used by the banks. Typically, when we say a server is down, what we mean is that the program
that is designed to respond to requests from the network is not doing so. There are a number of
reasons that could happen, and each of them call for a different solution. This can slow down the
work of the bank that is required to do on time. It cannot be resolved unless the software is
maintained properly without any issues.

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3.1 Introduction :-

The Thane Bharat Sahakari Bank Ltd., established in 1979, is one of the leading Co-
operative Banks in Thane district. Since the date of inception, the Bank has grown by leaps &
bounds with 24 branches, spread over Mumbai, Thane, Raigad and Pune districts. (as on
31.03.2016)

At the time of inception of the Bank, i.e. in late 1970s, there were only 2 Co-operative
Banks in Thane city. Thane city, being centrally situated in the growing industrial belt on one
hand, and being equidistant to western side on Ghodbunder Road to Karjat, Kasara and also
Mumbai on the other, was developing vertically and horizontally as well, which resulted into
growth in the population belonging to all strata of the society. Naturally, a need for another
Bank was evident. Two enthusiastic persons, viz. Dr.V.N.Bedekar and Mr.M.Y.Gokhale,
along with many such likeminded senior social workers, came up with an idea of having one
more Co-operative Bank for Thane city and district.

After completing preliminary formalities, the Bank was registered with District Co-
operative Registrar on 25th September 1978. Subsequently, the first General Body Meeting
of the Bank was held on 28th October 1978 and in that Meeting, a Team of first Board of
Directors was elected. Dr.V.N.Bedekar was elected as the Chairman and Mr.M.Y.Gokhale as
Vice Chairman.

The relative Reserve Bank of India (RBI) Licence for opening the Bank was obtained on
19th April 1979 and on the auspicious day of ‘Akshaya Tritiya’, on 29th April 1979, the
Bank was inaugurated at the hands of noted Economist of that era, Dr.V.M.Dandekar. The
Bank started functioning at spacious premises at ‘Shatataraka’, with its Administrative Office
and the first Branch viz. Main Branch. The Bank was awarded status of ‘Scheduled Bank’ on
8th March 2003.

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 It will be interesting to know that, initially the Bank was named as the “Bharat Sahakari
Bank” Ltd., Thane. Subsequently, the name was changed to the “Thane Bharat Sahakari
Bank” Ltd. to avoid confusion in the minds of the people, as two other banks, styled as
“Bharat Co-operative Bank” and Bharat Sahakari Bank” were also functioning at the time.
Thus, the transformation in the name from “Bharat Sahakari Bank Ltd”. Thane to “Thane
Bharat Sahakari Bank Ltd”, took place.

In the year 2003-04, the Bank celebrated Silver Jubilee Year. A Souvenir was published
in the Silver Jubilee year, highlighting various milestones achieved by the Bank during its
journey of 25 years.

The Bank participates in many social events in Thane city, like “Nav Varsha Shobha
Yatra” (Nandi songs of which were famous / popular ) on the eve of Gudhi Padwa and also
contributes to many social events through donations, ads and, even on few occasions it
sponsors some social programmes.

The Bank is well equipped in the area of mechanization / computerization of its services
through 24 ATMs, Mobile Banking, RTGS, NEFT etc. etc.

3.2 Board of Directors :-

Madhav Yeshwant Gokhale Uttam Bhaskar Joshi

Chairman Vice Chairman

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 Dr. Ravindra R Randive Chandrashekhar P Paranjape

Director Director

Milind Madhav Gokhale Hemant waman Mahajan

Director Director

Dr. Rajeshwar M Moghekar Kiran V Vaidya

Director Director

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Mrs. Manish M Natu Sanjay Gopinath Patil

Director Director

Sitaram A Gosavi Dr. Lalita S Deodhar

Director Director

Suhas L Karandikar Shekhar A Desai

Advisor To Board Chief Executive Officer

P a g e | 23
3.3 Services :-

 ATM

 PHONE BANKING

 MOBILE BANKING

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 LOANS

 CREDIT/DEBIT CARDS

 NEFT/RTGS/IMPS

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 FRANKING

 LOCKER FACILITY

 GENERAL INSURANCE

 E-STATEMENTS

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3.4 Deposits :-

(A) Saving Deposits :-

A savings account is an interest-bearing deposit account held at a bank or

another financial institution that provides a modest interest rate. Banks or financial
institutions may limit the number of withdrawals you can make from your savings
account each month, and they may charge fees unless you maintain a certain average
monthly balance in the account.RS-35000 per day withdrawal allowed through ATM.
minimum balance is more than ₹ 1000.interest rate on saving deposit is 4%.

(B) Current Deposits :-

Current a/c can be opened by a businessmen who have higher no. of regular
transactions with the banks. It also known as demand deposit account in current a/c
amount can be deposited and withdrawn at any time without giving any notice. current
Account can be opened with minimum ₹. 1,000. ₹ 25000 per day withdrawal. RS
10000 withdrawn in a day from the account with NFS network.

(C) Fixed Deposits :-

A Fixed Deposit (FD) is a financial instrument provided by banks which

provides investors with a higher rate of interest than a regular savings account, until
the given maturity date. It may or may not require the creation of a separate account.
penalty for premature withdrawal will be 1.00% P.A. these accounts can be opened
with an investment of ₹. 1,000/-.

P a g e | 27
 Interest Rates on Deposits (w.e.f. 20/02/2017)
For General Sr. Citizen,
Registered
Period Of Deposit Public Staff & Ex-
CHS
Staff Members
15 Days to 90 Days 4.75 4.75 4.75

91 Days to 180 Days 5.75 5.75 5.75

181 Days to Less than 12 Months 6.50 6.50 6.50

12 Months to 60 Months 6.75 6.75 6.75

666 Days 7.00 7.50 7.00

Above 60 Months to 120 Months 6.50 6.50 6.50

Tax Benefit Schemes (60 Months) 6.75 6.75 6.75

Table No. 2

(D) Recurring Deposits :-

Recurring Deposit is a special kind of Term Deposit offered by banks in India

which help people with regular incomes to deposit a fixed amount every month into
their Recurring Deposit account and earn interest at the rate applicable to Fixed
Deposits. it is similar to making FDs of a certain amount in monthly installments. this
deposit matures on a specific date in the future along with all the deposits made every
month. thus, Recurring Deposit schemes allow customers with an opportunity to build
up their savings through regular monthly deposits of fixed sum over a fixed period of
time. minimum Period of RD is 6 months and maximum is 10 years. premature
withdrawal allowed, penal interest is applicable.

(E) Kishore Bachat Yojna :-

 Open New General Ledger A/c of "Kishor Bachat Thev Yojana" (K.B.T.Y.)

P a g e | 28
 Minimum Balance of ₹. 500.00

 Rate of Interest 4%

 Cheque Book Facility

 No Bank Service Charges such as Minimum Balance, Folio,Cheque Book, etc.

 No Debit Balance in this Account

 SMS Alert Facility to Parents

 Repays ATM card in the Name of A/c holder with applicable charges

 Account holder age limit above 10 to below 18 year’s, Conversion of act as

"Major" on attain age of 18th year

 Account holder can make his/her Transactions individually

 Any type of loan cannot be given on this account

P a g e | 29
3.5 Loans :-

T
Y
P
E
S

O
F

L
O
A
N
S

Figure No. 3

P a g e | 30
 (A) Student Loans :-

Student loans are offered to college students and their families to help cover the
cost of higher education. There are two main types: federal student loans and private
student loans. Federally funded loans are better, as they typically come with lower
interest rates and more borrower-friendly repayment terms.

(B) Mortgages :-

Mortgages are loans distributed by banks to allow consumers to buy homes

they can’t pay for upfront. A mortgage is tied to your home, meaning you risk
foreclosure if you fall behind on payments. Mortgages have among the lowest interest
rates of all loans.

(C) Vehicle Loans :-

Like mortgages, auto loans are tied to your property. They can help you afford
a vehicle, but you risk losing the car if you miss payments. This type of loan may be
distributed by a bank or by the car dealership directly but you should understand that
while loans from the dealership may be more convenient, they often carry higher
interest rates and ultimately cost more overall.

(D) Personal Loans :-

Personal loans can be used for any personal expenses and don’t have a
designated purpose. This makes them an attractive option for people with outstanding
debts, such as credit card debt, who want to reduce their interest rates by transferring
balances. Like other loans, personal loan terms depend on your credit history.

P a g e | 31
(E) Gold Loans :-

This was one of the easiest and fastest way of loan when gold rate was at it’s
peak. But currently lot of lenders may not feel it better collateral due to falling in gold
price, especially gold loan companies. Recently RBI banned any gold loans against
gold ETFs and gold mutual funds. Even though it forms easiest and fastest way of
getting loan but better to look for risks involved in it, especially when you are dealing
with NBFCs.

(F) Home Loans :-

Home loan as name suggest is the loan against buying property. Every
individual currently have dreams to have their own home. To make affordable best
option is home loan. There are sub-categories of home loans which are as below :-

 Home loan for residents

 Loans for repairs and extension

 Land purchase loan

(G) LRD :-

LRD scheme is to raise funds for your business needs/investment against the
future rent receivables of your self-owned property

Purpose – For Working capital, repayment of debt, repayment of unsecured loan,

acquiring fixed asset for business etc.

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Maximum loan amount – ₹. 10.00 crores.
Maximum eligible loan amount will be equivalent to expected rent receivable as per
Lease agreement (Net off TDS & Tax etc.).

Period of loan – Tenure will be equivalent to unexpired period of Lease as per

agreement subject to maximum period of 10 years.

Security – Mortgage of rented property with tri partite agreement between

bank, borrower & lessee, remitting rent to bank and all powers to bank to recover rent.

Guarantors – Personal guarantee of the business entrepreneur and two guarantors

with adequate Net worth and income commiserating with loan amount.

(H) Cash Credit :-

A cash credit is a short-term cash loan to a company. banks offer cash

credit accounts to businesses to finance their "working capital" requirements
(requirements to buy raw materials or "current assets", as opposed to machinery or
buildings, which would be called "fixed assets"). The cash credit account is similar to
current accounts as it is a running account (i.e., payable on demand) with cheque book
facility. But unlike ordinary current accounts, which are supposed to be overdrawn
only occasionally, the cash credit account is supposed to be overdrawn almost
continuously.

P a g e | 33
Interest Rates – Loans and Advances
w.e.f : 12 July 2017

Rate of Interest
Sr. No. Product / Scheme Remark
p.a.
Upto ₹.25.00 lacs 8.25%
1 Housing Loan
Above ₹.25.00 lacs upto ₹.70.00 lacs 8.50%
2 Education Loan Maximum upto ₹. 20.00 lacs 11.00%
Personal Use New Vehicle
8.50%
(Upto 36 months )
3 Vehicle Loan Personal Use New Vehicle
8.50%
(Above 36 months)
Pre-owned cars 12.50%
With Section 49 13.00%
4 Personal Loan
Without Section 49 14.00%
10.50% to
5 Cash Credit Business Loans
14.50%
Business Loans or Commercial 10.50% to
6 Term Loans
Vehicles 14.50%
Loan upto
Term Loan/SOD against 11.00%
₹. 2.00 lacs
7 NSCs / KVPs / LI Policies
Loan above
etc 11.00%
₹ 2.00 lacs
8 Gold Loan Maximum upto ₹. 25.00 lacs 11%
For House Repairs upto ₹.2.00 lacs 12.25%
9 Motgage Loans
Other 12.25%
Loans Under Lease Rent 09.50% to
10
Discounting (LRD) 10.50%
Loans to Builders and 13.50% to
11
Developers 16.50%
12 Group Personal loan* 12.00%
Overdraft (Unsecured) /
Cheque Purchase and any
13 type of clean facility 14.50%
maximum upto ₹. 5.00
Lacs
Table No. 3

P a g e | 34
3.6 Objectives of Bank :-

 Determining in a rational, informed, and strategic manner the desired customer base .

 Identifying the current and future needs of desired customer and customer prospect
segments.

 Creating need-satisfying benefits that respond appropriately and profitably to

customer needs and which positively differentiate the organization from its
competitors.

 Communicating and delivering these benefits effectively and efficiently to the market
place.

 To generate more leads and create more awareness about the bank.

 Expansion of bank

 Converting the employees of the organization into a well-informed, disciplined, and

professional force committed to the organization's values and objectives.

P a g e | 35
4.1 Introduction :-

Most of the co-operative banks use banking software for their day to day transactions. The
Banking Software they use is provided by InfrasoftTech as OMNI Enterprise.

InfrasoftTech has over two decades of experience in transforming businesses of financial

enterprises they serve. Their customer banks and financial services organizations have benefited
by adopting OMNIEnterpriseTM, by way of one or more key performance areas including
modernization, rapid business expansion, implementing multi-channel services, enhanced
productivity, improved compliance & governance and above all quantum leap in profitability.
OMNIEnterprise™ is an integrated solution that helps banks to automate majority of their
processes on a common technology backbone. InfrasoftTech specialize in creating a unified
customer view of the entire portfolio of a client across the bank with their customer centric
architecture as against a traditional product centric architecture. OMNIEnterpriseTM provides a
wide-ranging and one of the most comprehensive functional coverage in the industry spread over
Retail Banking, Trade Finance, Wealth Management, Microfinance, Investments and Central
Office Operations.

Core Banking Solutions :-

A core banking implementation is a major decision point for a bank since it impacts the
entire bank and its business. Project success directly impacts profitability, customer satisfaction
and competitiveness.

InfrasoftTech Core Banking Solution effectively supports the

entire business operations of a bank – from the front office through operational workflow, the
back-office and accounting. As such diverse stakeholders interact and benefit from the solution –
Tellers, Branch Officers, Loan Officers, Clerks, Managers, Business Heads, Back-office
operators, Auditors and CXO team of a bank.

P a g e | 36
 Figure No. 4

The bank is able to offer variety of financial products such as savings, deposits, term loans,
working finance, project finance, bill discounting, LCs, BGs, etc.
Availability of the solution on multiple service channels such as branch, ATM, Internet, Mobile,
and Agent network will help your bank achieve increased market reach and add to customer
convenience. The solution’s in-built workflow management and fund management features help
to reduce processing time, optimize work allocation, mitigate risks and employ the funds
efficiently. An integrated GL & Accounting module updates and maintains balances allowing the
bank to monitor its financial metrics in real time. The reporting engine comes with pre-packaged
MIS and Regulatory reports and lends great flexibility to the bank to design & publish its own
reports. The analytics engine provides greater control & capability to a bank to identify trends,
evaluate performance for products, people and business units, to identify risk triggers and to
carry out predictive analysis.

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 Figure No. 5

CORE BANKING SOLUTION ON THE CLOUD

InfrasoftTech launched our CBS – OMNIEnterpriseTM Core Banking Solution, on hosted

platform in 2011-12. InfrasoftTech has partnered with datacenter service providers and
formulated a packaged offering that comprises of the CBS Software, Infrastructure and
Connectivity. It has received across-the-board acceptance in the Indian co-operative banking
segment.

InfrasoftTech has partnered with data center service providers and telecom service
providers and has formulated a packaged offering that comprises of the CBS Software, required
infrastructure and supporting connectivity – thus taking away the entire pain any bank must go
through to ensure flawless functioning of its most important enterprise system.

P a g e | 38
WHY CORE BANKING SOLUTION?

1. Offering a faster go to market based on functional fitment out-of-the-box as well as evolved

implementation methodology that markedly optimizes the project cycle.
2. Common Integrated Platform for various supporting & satellite solutions – ATM & EFT
Switch, Loan Origination, Loan Recovery, Lead Management, Budgeting & Forecasting,
Fixed Asset management, Wealth Management.
3. Ability to scale-up and scale-out with Bank’s growth in terms of volumes as well as product
& service portfolio.
4. Lowest TCO or Per Transaction cost.

Core Banking for Co-operative Sector :-

By virtue of combined experience of two decades in India and overseas markets especially
- Africa and South East Asia, working with cooperative, rural, regional, micro or thrift banks,
InfrasoftTech have perfected delivery model that factors in typical challenges of implementation
in these segments ranging from IT literacy, legacy data issues, connectivity issues.

Rural banks in India were established with a view to provide sufficient banking and credit
facility for agriculture and other rural sectors and to include rural areas into economic
mainstream given that a sizeable chunk of Indian population was of rural orientation.

InfrasoftTech enjoy a large market share in co-operative banking segment in India having
worked with Urban Cooperative Bank, State Co-operative Banks, District Co-operatives Banks
and Credit Co-operative Societies.

P a g e | 39
 InfrasoftTech Core Banking Solution thus addresses very unique
requirements such as members owned entity & management, small & micro businesses focusing
on regional competencies, large customer base engaged agriculture & related activities, remote
location with no or unstable connectivity. Given presence in similar rural and micro banking
focused regions, the solution is capable of providing a modern, scalable technology platform.

InfrasoftTech Core Banking framework developed for this class of banks easily integrates
unique requirements such as shared ownership, interest subvention, micro-savings products, and
finance products that suite agricultural, farming, small-scale, handicraft & artisan businesses.

Figure No. 6

Core Banking Solution for State Co-operative banks, District

Central Co-operative Banks and Primary Agricultural Credit Societies

In the co-operative banking hierarchy in India, the finance flows from a State Co-operative to
District Central Co-operatives (DCCB), which form the prime credit facilitator at a district level

P a g e | 40
and Primary Agricultural Credit Societies (PACS) form the end-point to which credit needs to be
delivered.

OMNIEnterpriseTM Core Banking Solution for this segment carries some unique features to
enable the banks to provide differentiated finance tools to support the agricultural economy,
track the credit flow and measure & report outcomes.

OMNIEnterpriseTM Core Banking Solution for State Co-operative Banks and District Co-
operative Banks

It is a proven solution with successful implementations pan-India. The solution allows the banks
to offer retail as well as business oriented products & services and more importantly, provide a
backbone for the financial inclusion objectives. It is developed on modern technologies and
architecture that is suitable for this segment that operates largely in remote, rural areas.

The solution addresses the pain points of this segment by removing customer duplication,
providing customer insights, maintaining data integrity, processing real-time updates.

4.2 OMNI used in Thane Bharat Sahakari Bank :-

Omni was used in Thane Bharat Sahakari Bank for day to day transactions. There are two
steps to authorize a transaction first of all the bank employee should execute the transaction
made by the customer and the Bank Supervisor will verify the following transaction. This is how
the transaction is completed, the transaction will not be completed unless and until the
transaction has been authorized.

The Omni has various codes for various accounts in the bank to determine the different
types of the account in the bank as shown in the following :-

 1150 – Saving Account

 1100 – Current Account
 2423 – Cash Credit Account
 2429 – Loan Account

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  2410 – Security Overdraft Deposits
 2411 - Security Overdraft Deposits – Others
 1225 – Fixed Deposits Accounts

The Omni makes every transaction possible in the bank following are the tasks that the
banks are able to complete with the help of Omni :-

 Outward Clearing of Cheques

 Transfer Cheques/ Money
 Deposits in the Accounts
 Printing of the Passbook
 Printing of the Statements
 Printing of FD Receipts
 Printing of Pay Order & Demand Drafts
 RTGS/NEFT
 E-Payments
 Updating Information of the Customers
 Issuing New Cheque Book
 Creating New Accounts
 Transferring Money from One Branch to Another Branch
 Withdrawal of the Money from the Customers Account
 Authorization of the Transactions

4.3 New Hardware System installed in Thane Bharat Sahakari Bank

Thane Bharat Sahakari Bank (TBSB) has selected a Smarter Computing solution built on
IBM PureSystems over its existing environment to create an intelligent infrastructure designed to
help the bank manage growth, introduce new client services and boost its profitability.

It is the first bank in India to adopt IBM PureSystems. In making its decision, the bank
was looking to increase the flexibility and capabilities of its core systems and to become more
client oriented and responsive to changing market demands. With a network of more than 20
branches in Maharashtra and plans to expand in other states, the bank needed to refresh its
hardware infrastructure to ensure better support for its core banking system.

P a g e | 42
 PureSystems provides the answer to these challenges by automating systems management
expertise with open, scalable systems that help increase utilization and reduce the total number
of servers required in the datacenter. By eliminating lower utilization servers – PureSystems
allows the bank to consolidate its IT operations even as it grows its business model. Increased
utilization equates to a smaller real-estate requirement, lower energy costs and lower systems
management costs. As a result, PureSystems can help to free up the bank’s valuable human
resources from mundane, error prone, and expensive IT operational tasks, allowing them to
rededicate these resources to critical customer service operations.

“IBM PureSystems is the ideal choice because it helps us in three main areas,” said
Shriram Date, CEO, Thane Bharat Sahakari Bank. “First, it reduces our cost and complexity –
simplifying and reducing steps across the complete IT life cycle; second, it provides additional
security by helping reduce enterprise risk with trusted protection built in from the hardware up;
and third, PureSystems significantly reduces new application deployment times.”

Working with Business Partner Finacus Solutions, IBM provided Thane Bharat Sahakari
Bank with a solution consisting of IBM PureFlex System, Flex System Manager (FSM), V7000
Storage, Flex Chassis, Blade Center H, and Tape Library TS 3100. The solution helps the bank
to cater to newer workloads much faster, bringing down the deployment times from days and
months to hours.

P a g e | 43
5.1 Introduction :-

In the above section 2.3 of Research Methodology, we have discussed origin of the
research, design of the research, variable of the research, population and sample of the research
in the research work.

Data analysis is consider to be important step and heart of the research in research work.
After collection of data with the help of relevant tools and techniques, the next logical step, is to
analyse and interpret data with a view to arriving at empirical solution to the problem. The kind
of analysis that can be performed on a set of data will be influenced by the goals identified at the
outset, and the data actually gathered. Broadly speaking, you may take a qualitative analysis
approach or a quantitative analysis approach, or a combination of qualitative and quantitative.
The last of these is very common as it provides a more comprehensive account of the behaviour
being observed or performance being measured.

5.2 Data Analysis :-

The data analysis is the analysis done by the Research Methodology mentioned in the
section 2.3. Following is the table that shows the analysis of the Technology used in TBSB is
good or improvements are needed in the software to a certain extent.

P a g e | 44
Sr. No Technology used in TBSB Views of the Population
Q1 Q2 Q3 Q4 Q5 Q6
1 Employee 1 1 1 2 1 2 1
2 Employee 2 2 2 3 2 2 2
3 Employee 3 2 2 1 2 2 1
4 Employee 4 3 2 2 3 3 2
5 Employee 5 1 1 3 1 1 2
6 Employee 6 2 3 1 2 2 3
7 Employee 7 1 2 2 3 3 1
8 Employee 8 4 1 4 2 3 2
9 Employee 9 4 4 4 1 3 3
10 Employee 10 3 4 3 3 1 4
11 Customer 1 1 1 4 2 2 1
12 Customer 2 2 2 5 1 2 2
13 Customer 3 3 2 4 2 2 2
14 Customer 4 4 2 3 4 3 3
15 Customer 5 4 3 2 5 4 4
16 Customer 6 4 3 1 1 5 5
17 Customer 7 5 3 5 2 5 1
18 Customer 8 5 4 4 3 4 2
19 Customer 9 5 5 3 2 2 3
20 Customer 10 5 5 2 1 1 2
Table No. 4

In the above table the codes represent the following :-

 Very Satisfied = 1
 Satisfied = 2
 Average = 3
 Not Satisfied = 4
 Not Very Satisfied = 5

P a g e | 45
Question 1 :- How are services of the ATM Machines provided by the Bank ?
Response No. of Respondents
Very Satisfied 4
Satisfied 4
Average 3
Not Satisfied 5
Not Very Satisfied 4
Table No. 5

Graph :-

ATM Machine Services

4.5

3.5

2.5

1.5

0.5

0
Very Satisfied Satisfied Average Not Satisfied Not Very Satisfied

Employees Customers

Graph No. 1

P a g e | 46
Question 2 :- How is the services of the Phone Banking provided by the Bank ?
Response No. of Respondents
Very Satisfied 4
Satisfied 7
Average 4
Not Satisfied 3
Not Very Satisfied 2
Table No. 6

Graph :-

Phone Banking Services

4.5

3.5

2.5

1.5

0.5

0
Very Satisfied Satisfied Average Not Satisfied Not Very Satisfied

Employees Customers

Graph No. 2

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Question 3 :- How is the services of the Mobile Banking provided by the Bank ?
Response No. of Respondents
Very Satisfied 3
Satisfied 5
Average 5
Not Satisfied 5
Not Very Satisfied 2
Table No. 7

Graph :-

Mobile Banking Services

3.5

2.5

1.5

0.5

0
Very Satisfied Satisfied Average Not Satisfied Not Very Satisfied

Employees Customers

Graph No. 3

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Question 4 :- How is the working of the Debit/Credit Cards provided by the Bank ?
Response No. of Respondents
Very Satisfied 6
Satisfied 8
Average 4
Not Satisfied 1
Not Very Satisfied 1
Table No. 8

Graph :-

Working of Debit/Credit Cards

4.5

3.5

2.5

1.5

0.5

0
Very Satisfied Satisfied Average Not Satisfied Not Very Satisfied

Employees Customers

Graph No. 4

P a g e | 49
Question 5:-Are you satisfied with services of E-statement provided by the Bank ?
Response No. of Respondents
Very Satisfied 3
Satisfied 8
Average 5
Not Satisfied 2
Not Very Satisfied 2
Table No. 9

Graph :-

E-Statements Services
4.5

3.5

2.5

1.5

0.5

0
Very Satisfied Satisfied Average Not Satisfied Not Very Satisfied

Employees Customers

Graph No. 5

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Question 6 :- Are you satisfied with services provided by the OMNI Banking Software ?
Response No. of Respondents
Very Satisfied 5
Satisfied 8
Average 4
Not Satisfied 2
Not Very Satisfied 1
Table No. 10

Graph :-

OMNI Banking Software Services

4.5

3.5

2.5

1.5

0.5

0
Very Satisfied Satisfied Average Not Satisfied Not Very Satisfied

Employees Customers

Graph No. 6

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Interpretation :-

From the above tables and graphs we can interpret that the questionnaire was to get the
feedback about the performance of the technology in the bank such as the ATM Machines,
Phone Banking is used to ask the account details via phone, Mobile Banking using Android App,
the performance of the Debit/Credit Cards provided by the bank with RUPAY system for online
payments, the E-Statements are provided to those customers who does not have passbook to keep
the records of their accounts therefore, they are provided with Bank Statements on monthly
basis. The E-Statements are received via e-mail to the email address of the customers and finally
the OMNI Banking Software who is the heart of the bank that provides the bank as well as the
customers of the bank with the better performance and efficiency managing various transactions
of various people to avoid the mistakes by the people using the software, there are two steps to
complete a single transaction i.e., first we need to complete the normal procedure of the
transaction and the second step is to verify the first step and authorize the transaction and the
transaction is complete.

We have asked several key question related to the technology of the bank from both
employees of the bank as well as the customers of the bank. The above graphs as well as the
tables tells that the customers as well as the employees of the bank are really satisfied with the
current banking technology or they are not satisfied with the current banking system. Following
are the data interpretation from the above table and the graphs :-

 The Employees of the Bank are satisfied on an average with the ATM Machine services,
whereas the Customers of the Bank are not very satisfied with the ATM Machine
services provided by the Bank.

 The Employees of the Bank are satisfied to help the customers that are using the service
of the Phone Banking and the Customers of the Bank are also satisfied with the Phone
Banking service but some customers can’t get through the line as it may be busy.

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 The Employees of the Bank boasts about their Mobile Banking services as they are quite
satisfied with the app, but the Customers of the Bank that lost/forgot their T-pin or M-
pin than they have to visit the bank in order to receive new pin. Hence, they are not
satisfied with the Mobile Banking.

 The services provided by the Bank regarding Debit/Credit cards both the Employees and
the Customer of the Bank are very much satisfied with the performance of the
Debit/Credit cards based on the RUPAY system.

 The Employees provide the customers with their E-Statements via e-mail while keeping
the records of their accounts. Some customers may not be satisfied because of the delay
of the statements due to internet traffic.

 The OMNI Banking Software is the core of the bank, both the Customers as well as the
Employees of the Bank are mostly very satisfied with it as it has reduced lot of effort
that were previously required.

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6.1 Introduction :-

After having research on the questionnaire basis and duly analyzing the same, certain
observations are made in this particular chapter. As per the analysis carried at in the earlier
chapter 5 the following are the detailed research.

6.2 Findings :-

Followings are the findings in regard to various responses from the respondents regarding
all technology of the bank performed in the Thane Bharat Sahakari Bank selected for the study.

 The Bank surely lacks the latest technological equipment and facilities provided by the
other banks.

 The Bank does not provide the customers with Internet Banking services which normally
every bank provides to their customers, the bank is failing to compete their competitors in
this field.

 Online Account opening facility is not available in the bank which is new trend in the
Banking Industry and now it is followed by almost every bank.

 The ATM facilities are poor compared to the competitors as the machines that are used as
ATM Machines are very old that may be the problem faced by the customers of the bank.

 The Online Debit/Credit cards services are not provided by the bank as it is the new
technology just introduced in the market and it is gaining the major response gradually.

 This also makes the Bank safe for not having any hackers that steals the money from the
customers of the bank because some banks have less securities, firewalls can be easily
broken by the professional hackers and the bank should have a high-tech and a powerful
firewall to protect the customers money from the hackers and scammers.

P a g e | 54
6.3 Suggestions :-

There are few suggestions from our end that we recommend the bank so that it can help to
grow in the Banking Industry as well as perform better in the Service Sector of the Banking
Industry. Since, providing good services will gain the trust of the customers and it will also help
to grow the customers and many investors would help the bank.

 Starting the Internet Banking in TBSB as soon as possible will help to compete with the
various bank that are in the market as that we can level up to them in every aspect as a
rival competitor.

 Replace all the old ATM Machines that are troublesome and tedious to operate to the
customers with the new ATM machines.

 Demonetization is pushing India towards a cashless society, and as banks prepare to deal
with the increased influx of electronic transactions, cloud will provide banks with the
required elasticity to meet these demands.

 The launch of UPI by the National Payments Corporation of India (NPCI) has thrown open
the gates for innovation in the open banking space. UPI will empower payment service
providers to create state-of-the-art products/offerings without being limited by the
underlying account relationships. Customers will be given the flexibility that they desire
and a unified interoperable interface will allow all service providers to innovate for
better customer experiences.

 Start opening of the accounts online that is very beneficial are the customers and the
employees of the bank to create a good relationship between them.

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 Online Debit/Credit cards should be introduced so that the customers don’t have to carry
the cards but with the help of the mobile phones the customers can make a payment
easily and there won’t be any Debit/Credit card theft that usually happens.

 By exceeding in the Technology in Banking Sector and also continuing in providing the
services to the customer than the bank may achieve the trust of the customer and also
grow at a very large scale.

 All Bank need is Marketing Strategy to grow itself by using the technology available in
the bank. The most beneficial marketing can be done using Digital Marketing as it can
help in many ways to introduce new schemes to the customers because nowadays people
are more active online.

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7. Conclusion :-

The mobile and wireless market has been one of the fastest growing markets in the
world. The arrival of technology and the escalating use of mobile and smart phone devices, has
given the banking industry a new platform. Connecting a customer anytime and anywhere to
their money and needs is a must have service that has become an unstoppable necessity. This
worldwide communication is leading a new generation of strong banking relationships. The
banking world can achieve superior interactions with their public base if they accommodate all
their customer needs. They have a unique challenge to keep their customer alliances and keeping
up with the new technologies, and competitive strategies that other banks also have to offer the
public. Conveniences of services plus outside locations like ATMs are crucial to every banks
success. Meeting all challenges including safety and security are perfect examples of good
banking strategies. In order for the financial institutions to effectively grow they must embrace
the new technologies and customize them to suit their economic success and the public’s
success.

Online banking is certainly here to stay. Online banking is a necessity for the bank's that
we studied and others in order for them to stay in business.

While its existence doesn't necessary give them a competitive edge because it is so
common place, it is truly a cost of doing business.

As a tool of modern living and as a lifestyle aid, it is absolutely indispensable. The fact is
that many services that are now being offered with online banking are almost impossible to do
conveniently with regular banking.

As we venture into the future, the internet will undoubtedly continue to change the
banking industry.

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 Annexure

Questionnaire :-

Name - _____________________________________________

Occupation - _____________________________________________

Email Address - _____________________________________________

Contact Detail - _____________________________________________

Sex :

Male Female Other

Q1) How are services of the ATM Machines provided by the Bank ?

Very Satisfied

Satisfied

Average

Not Satisfied

Not Very Satisfied

Q2) How is the services of the Phone Banking provided by the Bank ?

Very Satisfied

Satisfied

Average

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 Not Satisfied

Not Very Satisfied

Q3) How are the services of the Mobile Banking provided by the Bank ?

Very Satisfied

Satisfied

Average

Not Satisfied

Not Very Satisfied

Q4) How is the working of the Debit/Credit Cards provided by the Bank ?

Very Satisfied

Satisfied

Average

Not Satisfied

Not Very Satisfied

Q5) Are you satisfied with the services of the E-Statements provided by the Bank ?

Very Satisfied

Satisfied

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 Average

Not Satisfied

Not Very Satisfied

Q6) Are you satisfied with the services provided by the OMNI Banking Software used by
the Bank ?

Very Satisfied

Satisfied

Average

Not Satisfied

Not Very Satisfied

Complaints :-

______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________

Suggestions :-

______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________

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 Biblography

 www.thanebharatbank.com
 http://egov.eletsonline.com/2012/10/tbsb-first-bank-to-adopt-ibm-puresystems/
 Role of Technology in Indian Banking Sector, IJMBS Vol. 2, Issue 4, Oct-Dec 2012, ISSN
: 2230-9519 (Online)
 https://en.wikibooks.org/wiki/Research_Methods/Types_of_Research
 http://teachingcommons.cdl.edu/cdip/facultyresearch/Typesofresearch.html
 http://www.infrasofttech.com/banking-products/core-banking-solution
 http://www.infrasofttech.com/banking-products/core-banking-for-cooperative-sector
 http://www.infrasofttech.com/banking-products
 https://www.mbaknol.com/business-finance/role-of-information-technology-it-in-the-
banking-sector/
 http://www.freepatentsonline.com/article/Review-Business-Research/177943283.html
 https://www.useoftechnology.com/role-technology-banking-industry/
 https://www.sapling.com/8749594/advantage-disadvantage-banking-technology
 http://smallbusiness.chron.com/online-banking-disadvantages-2248.html

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