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RESEARCH PROJECT ON
E- Banking Services: A Study of Management

and Engineering Students’ Perception
Submitted By:
Janvi Garg
MBA (Finance)
Roll no: 21421060
Under the guidance of:

(PROF.) Dr. Dhiraj Sharma
Submitted to SCHOOL OF MANAGEMENT STUDIES,

PUNJABI UNIVERSITY, PATIALA in partial fulfillment
for the award of the degree MASTERS OF BUSINESS
ADMINISTRATION
(2021-2023)
DECLARATION
I hereby declare that the project report titled E- Banking services: a study on
management and engineering students submitted to SCHOOL OF
MANAGEMENT STUDIES, PUNJABI UNIVERSITY, PATIALA is an
original record of the project work done by me under the guidance of (PROF.) Dr.
DHIRAJ SHARMA in partial fulfillment of the award for the degree of
MASTERS OF BUSINESS ADMINISTRATION.
I declare that I have follow all the principles of academic honestly and integrity
and have not misrepresented any idea or data in my submission. I believe that any
violation of the above will be cause for disciplinary action by the university.
Signature of the candidate

(Janvi Garg)
This is to certify that the above statement made by the candidate is correct to the
best of my knowledge.
Supervisor’s signature
(Dr. Dhiraj Sharma)
Professor
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ACKNOWLEDGEMENT
I would like to express my gratitude and appreciation to all those who gave me the
possibility to complete this research project. Special thanks are given to my
supervisor Dr. Dhiraj Sharma whose help, stimulating suggestions and
encouragement help me a lot in all time of fabrication process and in completing
this research project. I also would like to thank for the time spent and correcting
my many mistakes.
I would also like to acknowledge with much appreciation to my parents, friends
and classmates who have helped me with their valuable suggestions and guidance
has been very helpful phase of the completion of the project.
Janvi Garg
MBA (Finance)
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TABLE OF CONTENT
1. INTRODUCTION…………………………………………………………5-25
1.1 Electronic banking services………………………………………………6-7

1.2 History of e- banking services……………………………………………7-9
1.3 Traditional banking v/s electronic banking……………………………..9-10
1.4 Features of e- banking services………………………………………..10-11
1.5 Significance of e- banking…………………………………………….11-13
1.6 Classification of e- banking services………………………………….13-17
1.7 Emerging challenges in e- banking services………………………….17-19
1.8 RBI’s recommendation of e- banking services……………………….19-21
1.9 Student’s perception on e- banking services………………………….21-22
1.10 TAM Model……………………………………………………..23-25
2. REVIEW OF LITERATURE……………………………………………26-32
3. RESEARCH METHODOLOGY………………………………………..33-38
3.1 Need of the study……………………………………………………....33-34

3.2 Scope of the study………………………………………………………...35
3.3 Objectives of the study……………………………………………………35
3.4 Research design………………………………………………………..35-36
3.5 Sampling size……………………………………………………………...36
3.6 Data collection…………………………………………………………36-37
3.7 Hypothesis of the study………………………………………………...37-38
3.8 Tools for analysis………………………………………………………….38
4. DATA ANALYSIS AND INTERPRETATION………………………...39-60
4.1 Testing of Hypothesis………………………………………………….40-48

4.2 Data analysis of Questionnaire………………………………………...48-60
5. FINDINGS, LIMITATIONS, AND SUGGESTIONS………………….61-66
5.1 Findings………………………………………………………………..61-63
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5.2 Limitations……………………………………………………………63-64
5.3 Suggestions…………………………………………………………...64-65
5.4 Conclusion……………………………………………………………65-66
BIBLIOGRAPHY…………………………………………………………..67-70
APPENDIX – QUESTIONNAIRE………………………………………...71-74
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CHAPTER 1
INTRODUCTION
The rapid transformation in the banking industry over the last decade has made the industry
stronger, cleaner, transparent, efficient, faster, disciplined and a lot more competitive. The
banking industry in India has a huge canvas of history, which covers the traditional banking
system practices from the time of Britishers to the reforms period, nationalization to privatization
of banks and now increasing number of foreign banks in India. Therefore, banking in India has
been through a long journey. Rural banking and micro financing are the two gateways for the
Indian banks to grow and compete with international banks.
The use of technology has brought a revolution in the working style of the banks and it has
pervaded each and every aspect of human life in a drastic manner. Advent of anytime, anywhere
banking has become possible due to technology adoption. Life has changed enormously
becoming easy to use and that too, in affordable prices.
As per the reserve bank of India (RBI), India’s banking sector is sufficiently capitalized and well
regulated. The financial and economic conditions in the country are far superior to any other
country in the world. Credit, market and liquidity risk studies suggest that Indian banks are
generally resilient and have withstood the global downturn well.
The Indian banking industry has recently witnessed the rollout of innovative banking models like
payments and small finance banks. In recent years India has also focused on increasing its
banking sector reach, through various schemes like the Pradhan mantra Jan Dhan yojana and
post payment banks. Schemes like these coupled with major banking sector reforms like digital
payments, neo banking, a rise of Indian NBFCs and fintech have significantly enhanced India’s
financial inclusion and helped fuel the credit cycle in the country.
The digital payments system in India has evolved the most among 25 countries with India’s
immediate payment services (IMPS) being the only system at level five in the faster payments
innovation index (FPII). India unified payments interface (UPI) has also revolutionized real time
payments and strived to increase its global reach in recent years.
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Electronics banking, use of computer and telecommunications to enabled banking transactions to
be done by mobile or computer rather than human interaction. Its features included electronic
funds transfer for retail purchases, automatic teller machines (ATM), and automatic payroll
deposits and bill payments.
Some banks operate as direct banks where they operate entirely via the internet or internet and
telephone. Some financial institutions offer special internet banking services for example
personal financial management support such as importing data into personal accounting
software.
1.1. ELECTRONIC BANKING SERVICES (E- BANKING SERVICES)
Electronic banking is commonly referred to as internet banking or simply net banking. It is an

electronic payment system supported by websites that offer a variety of electronic
banking products and services, such as payments, transfers, and deposits.
e-banking services are available 24 hours a day, 7 days a week. This is a convenient way to
access your account information and related services related to your account from the comfort of
your own home with a stable internet connection. These services are also secure
against cyberattacks. These net banking portals can only be used via a user ID and password by
generating an OTP and captcha upon login. Internet banking has reduced stress for banking
institutions and their customers. Customers don't have to go to the bank every time they need
another request. In fact, the accessibility of chatbots and support services on her
website makes it easier for both users and providers to understand and follow processes on her
website.
Today there is little difference between net banking and e-banking and the terms are used
interchangeably. However, internet banking is just one of many e-banking services. e-
banking encompasses all financial and non-financial services offered. The usual rules do
not apply to e-banking, especially since the information processed here is highly confidential. It
is recommended not to use e-banking services, even public his Wi-Fi or public computers.
Nowadays, e-banking services are in high demand and people prefer to use banking
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services in online mode instead of going to a bank branch. This increases the risk to the physical
appearance of bank branches. No one wants to visit a branch and use all banking services only
in online mode.
On the other hand, when it comes to the advantages of e-banking services, compared with
offline banking services, e-banking services are more convenient, more reliable and have more
advantages.
1.2. HISTORY OF E- BANKING
The history of electronic banking technology began with the use of punch cards or
ledger booking machines. At that time, the use of technology was limited to bank
bookkeeping. It evolved with the birth of online real-time systems and the
significant improvement in telecommunications in the late 1970s and his 1980s. It led to
a banking revolution called "convenience banking". Convenience banking brings the bank to
the customers.
The 1990s saw the birth of distributed computing technology and
relational database management systems. The banking industry was simply waiting
for technology. With sales technology, it is now possible to configure
dedicated machines, called front-end machines, for customer service and
risk management while communicating in batch mode without impacting front-end
machine response time.
Bank has adopted the traditional way of doing banking until the 1990s. However, after the
financial reforms introduced in 1991, banks started banking in several innovative ways. Since
1993, the Indian banking sector has adopted computerization to cope with the growing overload
and incompatibilities of manual systems and sustain further growth. In 1993, the Banking
Union of India reached an agreement with bank management to introduce a computerized
application into the bank. The idea of transforming traditional methods of banking services into
computerized services was supported by reports of his two committees headed by the former
RBI Governor Dr. C. Rangarajan, picked up. Both reports strongly
recommended electronic banking at various levels and suggested appropriate architectures.
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Employing an e-banking business is beneficial for both businesses and stakeholders. You can
access the service 24/7 and get all the information at your fingertips. Moreover, it is affordable
for both large and small businesses. Additionally, we created new ways to market financial
services and shared mutual support and guidance within virtual communities. E-
banking services for the need to work together.
The Reserve Bank of India and the Government of India are undertaking various initiatives for
the expansion and smooth functioning of e-banking in India. The Government of
India has passed his IT Act 2000. This law legally recognizes electronic transactions, e-
commerce and payment structures in India as follows:
a) 1980- in this stage the debit card and credit came into existence
b) 1984 to 1988 - At this stage when banks started to use computers, the MICR check
was introduced.
c) 1987 – HSBC is the first bank to introduce his ATM concept in India.
d) 1990 – ECS payments were introduced in India by his RBI.
e) 1991 – India joins the International Interbank Financial Telecommunications Association.
f) 1997 - At this stage a common payment network system was set up.
g) 1999 – Smartcard pilot project jointly carried out by the Reserve Bank of India, IIT
(Mumbai) and his IDRBT, Hyderabad.
h) 2000 - At this stage the Information Technology Act was passed.
i) 2002- Mobile banking launched in India through SMS banking
j) 2003 - Introduction of a special electronic money transfer.
k) 2004 - Introduction of Real Time General Accounting.
l) 2005 – During this phase, a total of 11% of public bank branches were converted to core
banking solutions and nationwide electronic payments were introduced.
m) 2007- The Payment Systems Act 2007 was passed.
n) 2008 – Introduction of Check Minimization System and Operational Guidelines for
Mobile Banking issued.
o) 2009 – Free cash withdrawal from ATMs was introduced at this stage.
p) 2010 - Introduction of instant payment services.
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q) 2016- This phase will launch the Bharat Interface for Money (BHIM). This is a mobile
app developed by the National Payment Corporation of India (NPCI) and based on
the Unified Payments Interface (UPI).
1.3. TRADITIONAL BANKING V/S ELECTRONIC BANKING
The major difference between the e- banking and traditional banking is that, in the traditional
banking the customers have to make a face-to-face contact with the bankers for any kind of
banking services, but in e- banking the customer not need to go to the bank every time and meet
bankers to availed any banking services. The customer can access the account at anywhere and at
any time.
Traditional banking is characterized by the applications of strict regulations, while modern

banking is differentiated by the introduction of new laws that resulted in the deregulations of key
aspects of the banking industry.
Both traditional and electronics banks store and manage the money of the customers, but they do
differ somewhat when it comes to the services, features, and capabilities each offers.
Online banking
a) It doesn’t have any physical locations.

b) It has lower fees or no fees.
c) Higher interest rates on savings account and sometimes on checking accounts.
d) It has automatic and mobile app access.
e) It has quick and easy online process.
f) It provides online customers services, over the phone as well.
g) It has reduced the cost and time and no need of more paper work.
h) There is less chances of errors and fraud due to the reconciliation system.
i) It involves global coverage while sitting at home/ office.
j) It provides the facility of marketing of products/ schemes online easily
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Traditional banking
a) It has brick and mortar branches available.

b) It charges higher fees and more additional fees.
c) Lower interest rates on saving accounts.
d) Online and mobile app access usually available.
e) In person and online process.
f) In person, online, and phone customer services.
g) There is lots of paper work is there which consumed lots of time, and increased the cost.
h) It does not provide a complete check on banking transactions.
i) It’s provided limited coverages.
j) Its practice does not provide proper marketing tools.
1.4. FEATURES OF E- BANKING SERVICES
While every bank is different, most have adopted a comprehensive online banking system to
keep up with the lifestyle of the modern customers. Here are some features that many banks offer
via their online portals.
a) Secure login with unique ID and password.

b) Numerous customer service options and point of contact.
c) Set-up or cancel automatic payments.
d) Make bill payments.
e) Create accounts
f) Transfer funds between accounts
g) Deposits cheques
h) Check balance at any time
i) View transactions history
j) Check on mortgages, loans, and saving linked loan account
k) Apply for the issuance of a checkbook
l) View special offers
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m) Plan and track savings
n) Link investments to the account and etc.
1.5. SIGNIFICANCE OF E- BANKING
There are many types of the advantages or significance of the electronic banking services. It is to
be seen that the electronic banking services are very important in today’s time. As the today’s
time is very changing environment and in order to avail the banking transactions it is very
important to use the electronic banking services. There are many advantages of the electronic
banking services which are following:
➢ Time saving:
The electronic banking services are very important as it saves a lot of the time of the
users. In the earlier time people used to go to the bank branches to avail the banking
services and sometimes they had to stand in the long queue for the banking services and it
consumes a lot of the time of the users. But with the upcoming of the electronic banking
services the people availed the banking services at the comfort of their home and also,
they not need to get the bank branches to avail the banking services and also, they use all
the banking services at different locations.
➢ Instant and secure:
The electronic banking services are very instant and secure. This is to be use in very easy
to use. Earlier, the banking services are not quickly used by the users, they have to wait
for a long period of the time to availed the banking services. And there is security in the
banking services with the help of the electronic banking services. Earlier, the banking
services was not secure because of lots of paper work.
➢ Reduce banking errors:
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Using e-banking reduces banking errors. By automating payments, transfers, or other
consistent financial activities, payments are made on time and errors due to keyboard
typos and user errors are prevented. In addition, choosing e-banking eliminates errors
caused by handwriting or incorrect information. Daily reviews of electronic files
and bank records can often be used to double or triple check critical accounting data and
increase the accuracy of financial statements.
➢ Reducing banking costs:
Banking relationships and costs are often based on resource requirements. Businesses that
place higher demands on bankers and require more physical assistant with bank transfers,
deposits, research inquiries, and other banking activities often incur higher bank charges.
Choosing e-banking minimizes your business and banking costs.
➢ Increase business productivity:
E-banking leads to increased productivity. Spend on routine banking by automating

recurring bill payments, minimizing the need to physically go to the bank, and allowing
you to work on demand rather than during bank business hours Save time. In
addition, online search tools, bank promotions and other programs allow employees to
research transactions and resolve bank issues themselves without having to interact with
bank employees. In some cases, credit card transactions and bank account month-end
reconciliations can be automated using electronic banking files.
➢ Business activity review:
Business owners, accountants and other authorized employees can quickly access routine
banking activities such as deposits, cashed checks and wire transfers through an online
banking interface I can do it. This simple verification eliminates the need to wait for your
monthly statement and ensures that all your daily banking transactions go smoothly. You
can more quickly identify and resolve errors and delays before they impact your business.
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➢ Strengthening controls and reducing fraud:
Strengthening corporate financial controls through auditing and fraud prevention requires
a high level of transparency in all financial transactions. Relying on e-banking provides
an electronic footprint for all accountants, managers and business owners who change
their banking practices. E-banking provides insight into bank activity, making
covert activities and fraud more difficult.
1.6. CLASSIFICATION OF E- BANKING SERVICES
In order to facilitate the work of the customers and help them to bank from the comfort of
their homes, there are many kinds of e-banking offered by the banks so that the customers
do not have to go to the bank, they can save their jobs and their reputations. You don't have
to meet a banker to meet long queues. Below are some of the types of e-banking
services the bank.
➢ ATM (Automated Teller Machines)
Today, most people use ATMs to get banking services without going to the bank.
Also, customers do not need to go to the bank for small services, they can use ATMs to
conduct transactions themselves. These services can be accessed with the help of debit
and credit cards. This is very convenient and the most popular of all services. Customers
can access different types of services through ATMs, such as: B. Cash deposits,
cash withdrawals, money transfers between accounts, checking account balances, paying
bills, and many other services. Also, by using an ATM, you can avoid bank charges to
maintain your account. It saves customers a lot of time and modernizes to do banking
transactions.
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➢ Telephone Banking
This is a type of e-banking service that banks offer to their customers, allowing them to
do their banking from home over the phone. Customers can access all kinds of banking
services by making a phone call. Now, with the advent of touch phones, customers can
use touch phones to access banking services more conveniently. With this new
technology, instead of calling a bank employee, customers enter an automated system to
pick up, allowing customers to call at any time. Instead of going to the bank every time a
customer has a problem, call the bank manager and ask them to fix the problem, and
the manager tells them to go to the branch so the customer can go to the branch. increase.
Use the service yourself at home.
➢ Electronic Clearing Card (ECC)
This is a type of electronic banking service provided by banks for the convenience
of their customers.
An electronic payment method that transfers money from one account to another. This
type of e-banking service is used for most remittances and is commonly used by
institutions for payments of dividends, interest, salaries, pensions, etc. The card helps her
customers use the services of her ECS and transfer money from one account to another.
This is a very secure way to transfer money from one account to another and is also the
most used method. You may not receive payment if you do not provide complete bank
account information.
➢ Smart cards
Smart cards are physical cards that contain a chip that acts as a security
token. Same as a debit card or credit card. These cards are used for a variety of
purposes, but most often these cards are used as credit cards to make payments.
These short-range wireless connectivity cards can be used for contactless payment
systems. It can also be used as a token for multi-factor authentication.
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This card offers the possibility to send money to third parties with full security
and authentication. For example, a cardholder can use her PIN code or biometric data for
authentication. It also provides a way to securely store data on
the card and protect communications through encryption. This card had to make physical
contact with the card reader. The most common examples of these cards are
credit cards, debitcards,ATM cards,etc.
➢ Electronic Funds Transfer (EFT)
This is another form of electronic banking service offered by banks to their customers
to transfer money from one place to another or from one person to another. This can be
done with an individual financial institution or with multiple financial institutions. There
are many types of electronic money transfers, including electronic checks, direct
deposits, telephone payments, ATM transactions, card transactions, and Internet
transactions. A generic term for all digital transactions. This is one of the safest ways to
send money from one person to another. Basically, it works based on some signals sent
from the sender to the receiver. Recipients and senders can be employers,
employees, suppliers, customers, retailers, or any other party. It is mainly used
by large institutions thatneed to makelarge payments.
➢ Electronic Payment Services (ECS)
This is another form of electronic banking services that banks offer to their customers to
facilitate banking transactions. This includes transactions processed at the National
Automated Clearinghouse (NACH) operated by the National Payments Corporation of
India (NPCI). These services are primarily used by institutions to make large payments to
another institution. They start trading after registering with a certified clearing house.
ECS users must also obtain consent, including beneficiary account details, in
order to participate in ECS clearing. In order to use the services of ECS, you must obtain
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authorization to collect such obligations, also known as the ECS mandate.
➢ Mobile Banking
This is another form of e-banking services that banks offer to their customers.
This is a service that allows bank customers to access banking services via the Internet
from their mobile phones. It is currently the most used banking service of all
services. Anyone can use it anytime, anywhere. There are many mobile apps available to
enable customers to use banking services such as: The person simply transfers money
from his bank account to his bank account. Customers don't have to go to the bank every
time to get banking services, they can get all banking services on their phone. Some
banks have their own apps that allow customers to use their respective bank's services.
Example: pnb one app for pnb bank customers, his hdfc app for hdfc bank customers.
This service is now mostly used by people and is very effective as it saves a lot of time.
➢ Internet banking
This is another form of electronic banking service that banks offer to their customers
to avail of banking services. Also known as online banking, e-banking, or virtual
banking. An electronic payment system that allows customers of financial institutions,
such as banks, to make a variety of financial transactions through the
financial institution's website. In it, customers can use the bank's services by
logging into the bank'swebsite, and not mandatory for the person to have a mobile phone,
and this service is also available on other devices. All you need is the internet and you
can log in to the website and use the services. You can initiate domestic and
international money transfers, pay bills, and even invest in mutual funds
You can also use services such as ordering checkbooks, checking account balances
and opening fixeddeposit accounts.
➢ Tele banking
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It is another form of e-banking service that banks offer to their customers to use banking
services? It allows customers to make a variety of non-financial transactions such as cash
and checks over the phone without going to a bank branch or ATM. This feature is
available to all customers who have a savings or checking account in personal entitlement
at a bank that offers this feature. The customer is given a password and the account
number is their login ID. You must take great care to keep passwords and PIN numbers
confidential. Customers must call from a touchtone phone.
Customers can use the following services: online balance inquiry, request
for service, last his 5 transactions, last dated transaction, transaction details, checkbook
request.
➢ Door Step Banking
This is another form of e-banking service that banks offer to their customers to use their
services. With this type of service, customers do not need to go to the bank
to receive banking services, they can receive all these services at their place. For
example: Cash Deposit, Cash Withdrawal, Check Deposit or Draft Creation. Banks have
opened up all these possibilities in your workplace by hiring a service provider for you,
and this person will perform all banking services for you. You don't have to go to the
bank to get all these services.
1.7. EMERGING CHALLENGES IN ELECTRONIC BANKING SERVICES
E-banking services have many advantages and is very convenient for customers to have banking
services from the comfort of their own home. People who use e-banking services can access
their accounts, view bank statements, perform transactions, and pay bills from home or on the
go. In addition to the benefits, e-banking services also faced many challenges, and customers
also faced many challenges when using e-banking services. Below are some of the e-
banking services:
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➢ Changes in banking habits
E-banking services have changed people's habits of going to

banks for services. With 80% of people preferring to use online banking services over
going to the bank due to lockdown restrictions, banks around the world are starting to
close their physical branch doors. In addition to this increased use of online
banking services, people are distancing themselves from others and not interacting with
each other. Mastercard reports a 40% increase in contactless transactions worldwide in
2020. Most people preferred to use e-banking services; thus, the physical presence of
the bank is more important because the bank has to put more effort into attracting
customers to the product so that they can visit it. There are many risks. get them.
➢ Security
This is one of the most important aspects to consider when using e-banking services. Due
to the inherent concerns traditionally associated with online banking. Although banking
systems are designed to be virtually impenetrable, cyberattacks and fraud are still a
reality. However, users are often unaware that their online habits can put them at risk.
There are many scams that are done through online websites by hacking various people's
bank accounts, and the hackers take all the money from the customer's bank account. The
marketing team needs to analyze the market further to protect customers from
this type of fraud and strives to provide opportunities for people to enjoy e-
banking services. Online banking marketers should focus on demonstrating and
explaining the security of their online banking system.
➢ Technical questions
This is the most important aspect to consider when using e-

banking services. Because whenever you use technology, there are always certain risks.
Whenever you use the Internet, you risk technology and service interruptions. If your
internet speed is very slow, the stability and efficiency of your system may affect your
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ability to access your account. Similarly, the bank's servers may go down because of
the increased likelihood of fraud involving people's bank accounts.
Markets should prioritize mitigating customer concerns by declaring that customer funds
are not in jeopardy in the event of technical problems.
➢ Personal relationships
These days, most people prefer to use online banking services, and it is said that 80% of
people use e-banking services. The benefits of having a personal relationship with a bank
are often overlooked. This is because navigating difficult banking
scenarios is often facilitated by the involvement of bankers. The ideal scenario would
be to combine online banking for day-to-day transaction needs with a personal
relationship with bank staff to help customers find the right solution for all their banking
needs.
➢ Changes in the banking industry
Changes in the banking industry have led to an increase in purely digital banks
and fintech’s offering optimized banking solutions. Banks are leveraging customer data
to deliver personalized banking experiences, redefining call center strategies and agent
skills to address complex customer needs, and value chains that include process
digitization and intelligent automation. Digitization opportunities can be identified across
the board. As banks strive to improve their competitive advantage in the changing
banking environment, marketers are strengthening loyalty by enhancing their
knowledge base and established presence. increase.
1.8. RBI’S RECOMMENDATIONS ON E- BANKING SERVICES
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The Reserve Bank of India established an Internet Banking Working Group to study various
aspects of Internet banking. The group focused on his three main areas of internet
banking. Technology and security issues, legal issues, regulatory and regulatory issues.
Banks are also encouraged to refer to the original report for various questions and
further guidance.
➢ Banks should appoint network and database administrators with clearly defined roles
as stated in the group.
➢ Banks must have a security policy formally approved by the board of directors. There
should be a separation of duties between security personnel and the
information system security and information technology departments
that actually implement the computer systems. Other IS auditors check the IS.
➢ Banks have an obligation not only to verify their identities, but to inquire about the
integrity and reputation of their respective customers.
➢ In Internet banking scenarios, banks have little leeway to respond to
customer stop payment instructions. Banks should therefore clearly communicate to
customers the timeframe and circumstances under which stop payment
instructions may be acceptable.
➢ Products should be exclusive to account holders only and should not be offered in other
jurisdictions.
➢ Services must only include products in local currency.
➢ Overseas branches of Indian banks are permitted to offer internet banking services to
overseas customers.
➢ Bank to report violations of security systems and procedures to her RBI. RBI may, at
its discretion, decide to commission special audits of these banks.
➢ Interbank payment gateway must have net and gross payment capabilities
➢ Banks must use a disclosure template to disclose their customers' risks, responsibilities
and liabilities when conducting business over the Internet.
➢ Banks must also make their latest published financial results available on the Internet.
➢ Banks that already offer any kind of transaction are encouraged to report this.
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➢ All banks providing internet banking services shall review their systems against this
circular and report to the Reserve Bank any deviations from the types of
services provided, recommendations and suggestions, and it is recommended to
indicate a timeframe.
➢ The Reserve Bank of India has decided that all banks offering internet banking services
will immediately apply the Group Recommendations contained in this circular.
➢ Bilateral agreements between the beneficiary and the beneficiary's bank, the banks
and service providers involved, and the bank itself form the legal basis
and the obligations of each party must be clearly defined and valid in court. it won't
work.
➢ Connections between gateways and member bank computer systems must be made
through leased line networks with appropriate data encryption standards. All transactions
must be authenticated.
➢ Only institutions that are members of the national check clearing system are allowed to
participate in the interbank payment gateway for internet payments.
➢ Guidelines on Risk and Control in Computers and Telecommunications, published by the
RBI. See circular.
➢ As a supervisory authority, the RBI covers all risks of e-banking as part of its
regular bank audits.
1.9. STUDENT’S PERCEPTION ON E- BANKING SERVICES
In today’s time many students are using the e- banking services for making the online
payments as well as for fund transfer. As we know that whenever someone using anything
then they make their own perception towards that thing. As we talking about the students so
we can say that the each and all students have their own perception towards the e- banking
services. Basically, the perception is depending upon the satisfaction level they will get while
using the e- banking services.
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E- banking services is one of the best topics to identify the student’s perception. The student
perception of the quality of the product and services exceeds the expectations and the student
perception also makes the quality of the product and services low and decline the expectation
of the students. Student perception tell that how satisfied they are while using anything, and
it also tell whether it is helpful to them or not.
Sometimes, when the student gets convenience from a particular service, which they always
want to get then they make a good perception. But if the students not able and understand the
services then, they make wrong perception towards that particular service. And this will lead
to create dissatisfaction towards the particular products and services. And in this way the
satisfaction level and dissatisfaction level will be measured and either the customers are
happy with those services or not.
A good perception always makes a good impression on others people. It attracts new
customers and translates into greater profitability, especially true for banking those offering
electronic banking services since these services will increase customers satisfaction, boost
retention and improve profits, which makes increasing the adoption rate a high priority. It
also increased the student’s loyalty towards the services of the banks.
There are many people who feel hesitate to use the electronic banking services due to many
factors. Sometimes students are no able to access the technology, due to not knowing about
the technology in the past time, but now a days mostly the youngsters are well known about
the technology. Even then the students have wrong perception in their mind towards the
electronic banking services due to many frauds happening in the today’s time. They feel
afraid to use the electronic banking services.
On the other side there are many students who used the electronic banking services due to the
mobility. People used to go the different places for travel as well as for study purpose and
sometimes they will not find any bank nearby for the banking services, instead that they have
to use the electronic banking services to make the transactions. And by using the electronic
banking services they have a good perception towards the electronic banking
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1.10. TECHNOLOGY ADOPTION MODELS (TAM)
This model is given by Davis, in 1989. It is one of the most influential models of technology
acceptances. It has two primary factors which are helpful to influenced the individual to use
the new technology: perceived ease of use and perceived usefulness.
The technology acceptance model is an information system which states that how a consumer
will accept the technology and use the technology. The models suggests that whenever the
consumer will be introduced with the new technology then there are many factors which are
influencing them to make decisions whether they have to accept the technology or whether
they are capable to use the technology or not, that is known as TAM model.
➢ Perceived usefulness:
This factor was defined by the FRED DAVIS. Under this, the degree is defined to
which a person believes that using a particular system would enhance their job
performances. It means whether or someone perceives that technology to be useful
for what they want to do.
➢ Perceived ease of use:
DAVIS defined this as the degree to which a person believes that by using the new
technology, they are able to do the work in an easy manner without making so many
efforts. If the technology is easy to use, then the barriers they are facing have been
removed.
There are many external variables such as social influences is an important factors to
determine the attitude. When the TAM in the place, people will have the attitude and
intention to use the technology. However, the perception may change depending on
age and gender because everyone is different.
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The TAM has been continuously studied and expanded the two major upgrades being
the TAM 2.
ALTERNATIVES MODEL OF TAM MODEL:
• The MPT Model
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Independently of TAM, Scherer developed a suitable people and technology model in 1986 as
part of a dissertation study funded by the National Science Foundation. The MPT model is fully
described in a 1993 text. The MPT model has accompanying assessment instruments used
in outcome studies regarding technology selection and decision-making
and differences between technology users, non-users, avoidance, and hesitant users.
• HMSAM model
TAM has proven effective in explaining many kinds of systems using e-learning, learning
management systems, web portals, and so on. However, TAM is more than just a model that
describes the adoption of purely intrinsic or hedonic systems. Therefore, an alternative model of
TAM is called the hedonic motivational system adoption model. This refers to systems that are
primarily used to satisfy users' intrinsic motivation. B. Online shopping, learning, online dating,
digital music storage, social networking, porn only, gamification systems.
• Extended TAM
Several studies have extended the TAM model by adding external variables to
examine the influence of external factors on attitudes, behavioral intentions, and
actual technology use. shown. Several factors have been studied so far. Examples: perceived
self-efficacy, supportive.
Despite its heavy use, TAM has been widely criticized, and its original proponents have
attempted to redefine it several times. Criticisms of TAM as a theory include questionable
heuristic value and limited explanatory and predictive power. TAMs have distracted
researchers from other important research topics and created the illusion of a growing body of
knowledge. David shows that there is a correlation between technology utility and
consumer attitudes and intentions to use the technology. Previous researchers have also
confirmed that there may be a direct relationship between beliefs and intentions.
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CHAPTER 2
REVIEW OF LITERATURE
1. Author: Polaris Software Lab Limited

Topic: Introducing Polaris Software and IndusInd Bank INTELLECT
PRIVACY Internet Banking Security Card, PR Newswire.
➢ In this study, Polaris Software and IndusInd Bank showcase INTELLECT

PRIVACY, based on state-of-the-art technology, and his four samples submitted by
the Indian Institute of Technology, Madras. As you know, IndusInd Bank is the first
bank in India to implement his Intellect PRIVACY and create online and internet e-
banking services for the convenience of internet users. It also provides users with
bank security cards. This technology is implemented by banks to protect users from
any kind of fraud or hacking by banks and any kind of fraud activities. INTELLECT
PRIVACY technology uses the user's email address for authentication purposes and
provides security to the user. Users must provide their email ID to the technology to
log in. Professor L.s Programmer Coordinator Ganesh said at IIT Madras
that the Department of Engineering and Department of Management particularly inte
rested in designing this technology and technology. This technology is very easy to
use given today's trading. IndusInd Bank will be the first bank to use this kind of
new technology as it offers something different to ensure the safety and security of
its customers. INTELLECT PRIVACY is a simple plastic card issued by a bank to
its users. A user can generate a one-time password (OTP) from this card to perform
all kinds of online banking his transactions including login. This INTELLECT
PRIVACY technology allows customers to use Internet banking services from the
comfort of their own homes.
2. Author: Malhotra, Pooja & Singh, B.

Topic: Determining Internet Banking Acceptance by Indian Banks
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➢ India and how well they are offered to users. The primary purpose of this research is
to examine the factors that exist and affect Internet banking services, and the factors
that also affect users of Internet banking services. The data for conducting this study
was obtained from the bank's website. And a sample of 82 banks for this study was
collected as of March 31, 2007. Various types of regression techniques are
used in this study for conclusions and data analysis. After analyzing the
data from this study, we find that private and foreign banks have the lowest
coverage of Internet banking services compared to public banks. Public banks should
also be encouraged to improve their internet banking offerings. Within the
framework of this study, the different types of internet banking services that affect
internet banking services, such as bank size, experience of banks in providing e-
banking services to their customers, different types of internet banking
services, services, funding patterns, etc. Found the cause. and bank property.
This study has limitations. That is, the size of the study and the variables used for
data analysis. Due to these limitations, banks may not consider upgrading their
internet banking services. The main purpose of this research is to give people basic
knowledge about internet banking services. The results collected during the conduct
of this research may be useful to various users.
3. Author: B. Dizon, J. A
Topic: Special Issue: Electronic Banking.
➢ They noted that while large banks still grouped their operations and operated banking
services based on bank branches, the financial sector was increasingly investing in
electronic banking services and was making these services available one day. You
have to justify that you are serving users 24 hours a day. There is also mobile
banking, internet banking and free services through ATMs where the financial sector
provides banking services to their customers. You're trying to prove that you don't
want to and don't want to wait too long. Many people don't like filling out forms
to get banking services. Users will be able to use all banking services from the
comfort of their homes. So, you don't have to go to the bank for the transaction. They
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want everything to be online, and if they want to open an account, they can open one
themselves. A major limitation of this study is that we considered a limited number
of users rather than all users. This is just a one-sided survey of
people wanting internet banking services. The purpose of this study is to reveal
that banks must consider and switch to e-banking services in order to satisfy their
customers and survive in such a competitive environment. And to this end, banks
need to adopt technology to provide e-banking services to their customers. The
findings are of great benefit to both governments and banks expanding their banking
services.
4. Author: Azouzi, D.
Topic: Introduction of E-Banking in Tunisia, Journal of Internet Banking and Commerce
➢ The main objective of this study is to determine what changes will occur in the
banking sector due to the introduction of new technologies in the Tunisian banking
sector. The purpose of this study is to collect data from various sources in order to
understand customer behavior towards e-banking services. The purpose of this study
is to reveal that there are many factors that influence customer behavior towards e-
banking services. Age, gender, education, and more influence modern e-banking
versus traditional banking. We also know that many people are unaware of e-
banking services and are unaware of the benefits of e-banking services. In this way,
it is necessary to raise awareness of e-banking services and convey that e-
banking services make life more comfortable.
5. Authors: Reeti Sanjay, and Malhotra, A.

Topic: Customer Perspectives on E-Banking in Emerging Economies.
➢ This survey was conducted to determine customers' perceptions of e-banking services

and to know their level of satisfaction when using e-banking services.
Economy: India. This research was conducted by collecting data from customers in
North India. The study found that there are many factors that
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influence customers when using e-banking services. For example, the security
of your account, your age and occupation, your level of trust, etc. Customers do
not want to use e-banking services because they are highly suspicious of e-banking
transactions due to scams and hackers. All these factors affect the customer's level
of satisfaction and trust, which is why customers are reluctant to use e-banking
services. I also have trouble using e-banking services due to slow speeds.
6. Authors: Uppal, R.K. & Chawla, R.

Topic: Electronic Delivery Channel-Based Banking Services: An Empirical Study,
Institute of Chartered Financial Analysts of India (Hyderabad)
➢ This survey was conducted to determine customer perceptions of e-

banking services. The survey was conducted with data from 1200 respondents.
Respondents are then divided into private, public and foreign sectors. The primary
objective of this study is to determine customer perceptions of the importance of e-
banking services, the quality of e-banking services, bank fraud, the future of e-
banking services, and bank customer preferences. is. A comparative study
of different banks on their considerations and issues within the framework of this
research work. The purpose of this study is to find out that while customers from
various banking groups are willing to use e-banking services, they face problems in
using e-banking services because they do not know how to use e-banking services. to
make it clear that Lack of knowledge, inappropriate locations, unavailability of
networks, lack of infrastructure in rural areas, abuse of ATMs and cards
are also contributing factors. Also, they are facing account opening issues. Since the
problems faced by bank customers in using e-banking are well known, this
paper makes some suggestions to solve the problems, such as installing ATMs to
improve e-banking services. also provides To build the trust of customers of various
banks.
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7. Author: Laukkanen, P, Sinkkonen, S. & Laukkanen, T.
Topic: Consumer Resistance to Internet Banking.
➢ The main objective of this study is to understand what innovations should be made to
make e-banking services available to non-users of e-banking services. In this study,
he divided non-users into three groups based on their intention to use the innovation.
And we need to find out how resistance differs across all customer groups. In this
study, the three groups surveyed were procrastinators, dissenters, and resisters. Data
were also collected from Finnish bank customers who did not accept e-
banking services. The measurements in this survey are based on one of his theories:
consumer resistance theory and previous internet banking literature. Data analysis
for this study is based on his five barriers to e-banking services based
on older literature. A three-group analysis was then performed, revealing differences
in all three groups. The resistance of the rejecters turns out to be much more intense
and diverse than that of the opponents.
The displacement shows little resistance. In this way, we should find out the reasons
behind the customer’s perception of using e-banking services.
8. Author: Shah & Braganza

Topic: Investigating Critical Success Factors in E-Banking
➢ This study is based on the factors that must be kept in mind for a successful e-
banking service. This is essential. Various references comment on the success factors
of e-banking services. This survey is based on a survey consisting of questions. The
data for this study is based on UK financial sector organizations that use postal
questionnaires to deliver their services through electronic channels. The study
uncovered different types of factors that influence a bank’s success, including: B.:
Improving product/service responsiveness, organization, service expansion, system
integration, and customer service. The most important thing given to organizations
within the framework of this study is that they need to view e-banking initiatives as a
critical business model, not just a technical issue. This may include technology
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integration, business process integration and overall improvement of customer
service.
9. Author: Nitsure R.R.

Topic: E-Banking Challenges and Opportunities
➢ This study describes the challenges and opportunities associated with e-

banking services. This shows that e-banking services have the potential
to transform the banking system. Because e-banking services
have low transaction costs, e-banking establishments can open up new ways of
consuming banking services. This study addresses issues with e-banking services that
may make it impossible to provide e-banking services as intended.
These are all those problems which have low penetration of information and
telecommunication technology. There are many problems came in the way of the of
e- banking services like: sometimes people are not aware about the benefits of the e-
banking services, major concerns such as digital divide between the rich and poor
people, the different kinds of public and private sector banks, and along with this
there is problem of security as people are more concerned with the security so
sometimes they are not willing to use the e- banking services due to the security
purpose as they do not want to lose their data. So that why they are hesitating to us
the e- banking services. Instead of that there are many other problems of e- banking
services o e- banking services like: authentication, like the customers find difficulty
in the authentication to login to the e- banking services and on the portal sometimes
there is requirement of authentication and the customers find difficulty to do that, and
the bank will be suggested to improve these problems and provide the e- banking
services to the customers in the well manners.
10. Author: Asghar

Topic: Cloud Electronic Banking
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➢ This study deals with the availability of electronic banking services on different
portals and different websites. Providing banking services in an online
format requires reliance on online platforms, and e-backing services and websites
must be closely coordinated. To be successful, financial service providers must apply
both conditions and take advantage of e-banking services along with the benefits of
web services portals. The study also shows the benefits of today’s e-banking
services. Internet plays a very important role, so it is very important to provide
banking services through online platforms with the help of websites in the form of e-
banking services.
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CHAPTER 3
RESEARCH METHODOLOGY
The research is the simple process of investigating about the any enquiry or the fact of any aspect
in the systematic manners in order to give our views. It is also done in order to describes the fact
of the aspect in our words and make the things very clears. The research basically, deals with the
collection of the data, organized the data and to explore the data and after explore the data, the
data is to be presented in the systematic manners and to describes that data to others also.
The main purpose of the research is to show that why the data is to be collected and from which
sources the data is to be collected. The research basically done in order to explore the data
regarding a particular topic. Research methodology is the techniques or the procedures which is
used to identify, collect, process and analyze the data and to present the data in the table or graph
format and makes the interpretation of the data. In the research paper the section of the research
methodology shows the various aspects includes: needs, scope, objectives, research design,
sampling size and the data collection. In simple words we can say that the research methodology
is the practically work of the theoretically collection of the data. It means when the data about a
particular topic is to be collected from various sources and in order to describe the data to some
another people and for the analyzing the data the theoretical data will be converted into the
practically format and the data interpretation is to be made.
3.1. NEED OF THE STUDY
In the time of the competition, it is very important for the organization to identify the changes
which are happened in the market and which can affect the business activities. Specially in the
case of the technology. As we know that in today’s time there is lots of the competition of the
technology, day by day the technology will be arrived in the market to makes the operations
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done. Mostly, the technology will be more helpful in the services sectors. As the more of the
services sectors will be
done on the technology so it is very important to update the technology with the time, especially
for the banking sectors, today the banking sectors plays a very important role in the development
of the economy, as its provide the financial support to the people for their needs as well for the
business purpose also and manage the finance of the economy.
As the banking sector different kinds of the functions for the development of the economy so it is
very important to utilize the technology in the field of the banking sectors. To provide the
banking services to the customer in the convenient manners. As day by day the technology is
updated in every sector so it is important t update the technology in the banking sectors.
Information technology play a very important role in providing the technological support to the
banking sectors. The information technology providing various kinds of the technology for the
operations of the banking services, and the traditional banking system comes to known as
electronic banking services. The internet banking plays a very important role in providing the
banking services to the customer at the comfort of their place.
In this study, the research of various literature is to be shown which describes their view on the
electronic banking services and shows various types of the electronic banking services which are
available for the users and customers. It is also to be shown that what are the needs of the
electronic banking services in the today’s era. This study also reveals the perception of the
customers that either they are using the electronic banking services or not and which e- banking
services they are mostly used. the study reveals the factors which are taken into consideration by
the customers at the time of using the e- banking services. The study also conducted in order to
analyze the problem face by the users while using the e- banking services. As along with the
internet banking services there are many more services are there which can reflect the needs and
requirement of the customers. The electronic banking services is provided by each and every
bank, so it is very important to understand this study to know about the extent up to which the
banks provide the electronic banking services to its customers.
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3.2. SCOPE OF THE STUDY
As mentioned above that the study is conducted in order to know about various things about the
electronic banking services. the study has been conducted by taking into the consideration the
management and engineering students. As these are the professional course, the students of these
courses’ students understand the need of the electronic banking services. As a management
students one can understand the in order to manage the activities of the organization it is
mandatory to up to date with the changing environment and in order to survive in the market the
adoption of the technology is very important. As an engineering student one can understand the
concept of the technology and gives their point of views regarding the electronic banking
services.
This study has been conducted by taking the data of the 60 students among by dividing the
students into two groups of equal number of respondents. One group is of 30 students of
management and another one is 30 students belonging to an engineering field. In this research
two types of the data will be utilized, one is primary data collected from the students by filling
up the questionnaire added in this research paper, and other is secondary data, collected from
various sources like: Internet, research paper, journals, websites and books.
3.3. OBJECTIVE OF THE STUDY
• To study that which E- Banking service is more used by the students.

• To study the student’s preferences to use E- Banking services.
• To study the challenges faced by the students while using the E- Banking services
3.4. RESEARCH DESIGN
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In this research paper, the descriptive and exploratory research design has been used. As the
main purpose of this study is to explore the information of the students of the management and
engineering students regarding the e- banking services, and that the information has been
described in own language.
To explore the information of the students a questionnaire has been prepared and the data of 60
students has been collected belonging to the field of the management and engineering
background, and after making the analysis of the collected data, the data has been described in
the simple and own language. The data which is collected through has been interpretate and the
conclusion has been find out. After that some of the suggestions are also given in this paper
regarding the E- Banking services. there are some of the limitations also of this research paper
which has been described.
3.5. SAMPLING SIZE
The sample size of this research paper is 60 students belonging to the management and
engineering background. As the primary data was collected from the 60 students belonging to the
management and engineering background.
3.6. DATA COLLECTION
In this paper two type of sources has been utilized in order to collect the data regarding the E-
Banking services one is primary data and another one is secondary data.
➢ PRIMARY DATA: The data which is original in nature and collected for the first
time prior to anyone else. In this research the primary data has been collected by
preparing
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• Questionnaire
➢ SECONDARY DATA: The data which is not original in nature and which is not
collected for the first time, which has been already published and available to all the
users of the data. Following is the secondary data:
• Internet
• Research papers
• Journals
• Websites
• Books.
3.7. HYPOTHESIS OF THE STUDY
Hypothesis is the proposed assumption which is to be made to find out whether the solution is
approved or decline. It is a statement which is to be solved with the help of various statistical
tools, which are to be applied on the basis of the requirement of the study. And which is related
to the independent and dependent variables. If the hypothesis is proved then the solution is to be
formed but if the hypothesis is not proved then the alternative hypothesis needs to be formulated.
This study is proposed to test the following hypothesis:
• There is no significant relationship between availing of e- banking services and age of

the respondents.
• There is no significant relationship between preferences to use e- banking services and
educational courses of the respondents.
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• There is no significant relationship between challenges faced while using e- banking
services and gender of the respondent.
3.8. TOOLS FOR TESTING HYPOTHESIS AND DATA ANALYSIS
The primary data collected through questionnaire from the respondents was processed and
analyzed with the help of Microsoft excel 2019. The secondary data was collected from various
websites, books, research paper, journals, internet, etc. and the references of these sources are
mentioned below in the bibliography.
To test the hypothesis Chi- Square test was used in this study.
The chi- square applies to test the hypothesis of this study and makes the decision, whether to
accept the hypothesis or not, and
The primary data, which was collected through questionnaire analyzed by MS excel and
interpretation was made.
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CHAPTER 4
DATA ANALYSIS AND INTERPRETATION
Data analysis and interpretation is the most important step of the research project which cannot
be skip. It is a process through which the data collected for the research project can be
determined and it can be interpretate in own language which can be understood by everyone. So
that the one can conclude the result and make comparison with other numerical data available.
It is a process of determining the data and reaching on the relevant conclusions with the help of
various analytical tools. Data analysis helps the researcher to categorized, manipulating, and
summarizing the data to find out the result of the critical questions and to make data
interpretation and draw the conclusion.
Following are some of the steps required to do while making data analysis and
interpretation:
• Defining the questions

• Collecting the data
• Cleaning the data
• Analyzing the data
• Interpretate the data
• Conclusion
• Summary
Data analyzing can be both in descriptive and graphical presentation. It can be presented in
charts, diagrams, and the tables. It includes various process to do while making data analysis
like: data classification, coding, tabulation, statistical analysis of data, and inference about casual
relations among various variables. If the data is proper analyzed then it helps to classify and
organize the unorganized data and gives scientific shape. It also helps to study the trends and
changes that occur in a particular period.
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Key concepts regarding the analysis and interpretation the data:
• Reliability
• Validity
• Representatives
4.1. TESTING OF THE HYPOTHESIS
Testing of the hypothesis is the systematic approach, which is used for makes a conclusion,
whether the results of a research study support a particular theory which applies to a population.
Hypothesis testing uses sample data to evaluate a hypothesis about a population.
➢ HYPOTHESIS 1:
Ho: There is no significant relationship between availing of e- banking services and age
of the respondents.
STEP 1: DETERMINED OBSERVED VALUE
Table: 1
Availing e- banking services
Age group Yes No Total
Below 18 1 5 6
18 to 25 44 5 49
Above 25 4 1 5
Total 49 11 60
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The above table shows the observed value, which has been determined on the basis of the
responses of the questionnaire. The first column shows the different age group of the
respondent and second and third column shows the status of availing e- banking services.
STEP 2: CALCULATION OF EXPECTED VALUE
Table: 2
Availing e- banking services
Age group Yes No Total
Below 18 4.9 1.1 6

18 to 25 40 9 49
Above 25 4 1 5
Total 48.9 11.1 60
The above table shows the calculation of the expected value on the basis of the observed
value mentioned in the table: 1. Like the previous table the first column shows the
different age group and second and third column shows the status of the availing of e-
banking services.
Expected value can be calculated like as: corresponding total of column of observed
value * corresponding total of row of observed value and divide the resultant value with
the overall total.
Like: 1 is observed value taken from table: 1, corresponded total of row band column is 6
and 49 and overall total is 60, then
EV= 6*49/60= 4.9
STEP 3: CALCULATION OF CHI SQAURE VALUE
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Table: 3
Observed value(O) Expected value(E) O-E^2 X^2= O-E^2/E
1 4.9 15.21 3.1

5 1.1 15.21 13.8
44 40 16 0.4
5 9 16 1.7
4 4 0 0
1 1 0 0
CHI SQAURE VALUE 19
The above table shows the calculation of calculated value on the basis of the observed
and expected value mentioned in the table: 1 & 2
STEP 4: DETERMINATION OF DEGREE OF FREEDOM AND TABULAR

VALUE
The degree of freedom can be calculated by using the following formula:

Df = (r-1) (c-1),
Df = (3-1) (2-1) = 2
The tabular value is 5.991 at degree of freedom of 2 and 5% significant level.
STEP 5: COMPARISON OF CALCULATED AND TABULAR VALUE
Since, the calculated value (19) is more than the table value (5.991)
CV > TV,
So, the hypothesis is rejected and it can be concluded that there is significant relationship
between availing of e- banking services and age of the respondents
➢ HYPOTHESIS 2:
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Ho: There is no significant relationship between preference to use e- banking services
and educational course of the respondent.
Table: 4
Educational course
Preferences Management Engineering Total
Good services 12 9 21
Convenience 11 1 12
Accessibility 3 3 6
Security 10 3 13
Total 36 16 52
responses of the questionnaire. The first column shows the preference of the respondent
to use the e- banking services, and second and third column shows the status of the
educational course of the respondents.
Table: 5
Educational course
Preferences Management Engineering Total
Good services 15 6 21
Convenience 8 4 12
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Accessibility 4 2 6
Security 9 4 13
Total 36 16 52
The above table shows the calculation of expected value, on the basis of the observed
values, mentioned in the table: 4.
Expected value can be calculated like as: corresponding total of column od observed
value * corresponding total of row of observed value and divide it by overall total.
Like: 12 is observed value, corresponded total of row and column is 21 & 36 and overall
total is 52, then
EV= 21*36/52= 15
STEP 3: CALCULATION OF CHI SQUARE VALUE
Table: 6
Observed value (O) Expected value (E) O-E^2 X^2= O-E^2/E
12 15 9 0.6
9 6 9 1.5
11 8 9 1.12
1 4 9 2.25
3 4 1 0.25
3 2 1 0.5
10 9 1 0.11
3 4 1 0.25
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CHI SQUARE VALUE 6.58
The above table shows the calculation of calculated value or chi- square value on the
basis of the observed and expected values mentioned in the table: 4 & 5

VALUE

DF= (r-1) (c-1),
DF= (4-1) (2-1) = 3
Since, the calculated value (6.58) is less than the tabular value (7.815)
CV < TV,
So, the hypothesis is accepted and it can be concluded that there is no significance
relationship between preferences to use e- banking services and educational courses of
the respondent.
➢ HYPOTHESIS 3:
Ho: There is no significant relationship between challenges faced while using e- banking
services and gender of the respondent.
45 | P a g e
Table: 7
Gender
Challenges Male Female Total
Critical process 4 1 5
Technical problem 8 21 29
Errors 2 8 10
Hacking risk 1 1 2
Slow speed 2 5 7
Total 17 36 53
responses of the questionnaire. The first column shows the challenges faced by the
respondent while using the e- banking services, and second and third column shows the
gender of the respondent.
Table: 8
Gender
Challenges Male Female Total
Critical process 2 3 5
Technical problem 9 20 29
Errors 3 7 10
Hacking risk 1 1 2
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Slow speed 2 5 7
Total 17 36 53
The above table shows the expected value, which has been calculated on the basis of the
observed value, mentioned in the table: 7.
Expected value can be calculated like as: corresponding total of row of observed value*
corresponding total of column of observed value and divide by overall total.
Like: 4 is the observed value, and corresponded total of row and column is 5 & 17 and
overall total is 53.
EV= 5*17/53= 2.
STEP 3: CALCULATION OF CHI SQUARE VALUE
Table: 9
Observed value (O) Expected value (E) O-E^2 X^2= O-E^2/E
4 2 4 2
1 3 4 1.33
8 9 1 0.11
21 20 1 0.05
2 3 1 0.33
8 7 1 0.14
1 1 0 0
1 1 0 0
2 2 0 0
5 5 0 0
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CHI SQUARE VALUE 3.96
The above table shows the calculation of the calculated values or chi- square values on
the basis of the observed value and expected value mentioned in table: 7 & 9.

VALUE
DF= (r-1) (c-1),

DF= (5-1) (2-1) = 4
Since, the calculated value (3.96) is less than the tabular value (9.488)
CV < TV,
So, the hypothesis is accepted and it can be concluded that there is no significant
relationship between challenges faced while using e- banking services and gender of the
respondents.
4.2 DATA ANALYSIS AND INTERPRETATION OF QUESTIONNAIRE
Following is the analysis and interpretation of the data which was collected by filling the
questionnaire from the respondents.
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➢ AGE OF THE RESPONDENT
Table: 10
Age group No. of respondent Percentage
Below 18 6 10
18 to 25 49 81.7
Above 25 5 8.3
8.3 10
Below 18
18 to 25
81.7 Above 25
INTERPRETATION
From above analysis it is to be interpretate that 10% respondents belong to below 18
category, 81.7% respondents belong to 18 to 25 category, and 8.3% respondents belong
to above 25 categories.
➢ GENDER
Table: 11
Gender No. of respondent Percentage
Male 21 35
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Female 39 65
male
35%
male
female
65% female
INTERPRETATION
From above analysis it is to be interpretate that 65% respondents are belongs to female
category, and 35% respondents are belonging to male category.
➢ COURSE OF STUDYING
Table: 12
Course No. of respondent Percentage
Management 36 60
Engineering 24 40
40
management
60
engineering
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INTERPRETATION
From above analysis it can be interpretated that 60% respondents are of management
course, and 40% respondent belongs to engineering category.
➢ DO YOU HAVE YOUR OWN BANK ACCOUNT?
Table: 13
Option No. of respondent Percentage
Yes 53 88.3
No 7 11.7
11.7
yes
88.3 no
INTERPRETATION
From above analysis it can be interpretated that 88.3% respondents have their own bank account,
and 11.7% respondents does not have their own bank account.
➢ IN WHICH BANK YOU HAVE AN ACCOUNT?
Table: 14
Bank name No. of respondent Percentage
SBI 33 63.5
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PNB 10 21.2
HDFC 10 19.2
ICICI 0 0
OTHERS 7 9.6
0
9.6 SBI
19.2
PNB
63.5 HDFC
21.2
ICICI
OTHER
INTERPRETATION
From above analysis it can be interpretated that 63.5% respondents have the bank account in SBI
bank, 21.2% respondents have the bank account in PNB bank, 19.2% respondents have the bank
account in the HDFC bank, 9.6% respondents have bank account in others bank and no one
having the bank account in ICICI bank.
➢ ARE YOU AVAILING E- BANKING SERVICES?
Table: 15
Options No. of respondent Percentage
Yes 49 81.7
No 11 18.3
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18.3
yes
81.7 no
INTERPRETATION
From the above analysis it can be interpretated that 81.7% respondents availing the e- banking
services, and 18.3% respondents not availing the e- banking services.
➢ WHICH E- BANKING SERVICES MOSTLY USED?
Table: 16
Types No. of respondent Percentage
Internet banking 15 30
Mobile banking 20 40
ATM 10 20
Debit card/credit card 5 10
Tele banking 0 0
0
internet banking
10 30
20 mobile banking
ATM
40 debit card
tele banking
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INTERPRETATION
From above analysis it can be interpretated that 30% respondents use internet banking, 40%
respondents use mobile banking services, 20% respondents use ATM, 10% respondents use debit
card, and no one use telebanking services.
➢ ARE YOU USING MOBILE BANKING APPLICATION OF SELECTED BANK?
Table: 17
Options No. of respondent Percentage
Yes 44 73.3
no 16 26.7
26.7
yes
73.3 no
INTERPRETATION
From above analysis it can be interpretated that 73.3% respondents use the mobile application of
the bank, and 26.7% respondents are not using the mobile application of the bank.
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➢ Which payment application you are more using?
Table: 18
Types No. of respondent Percentage
Paytm 8 15.4
Google pay 33 63.5
Phonepe 11 21.2
BHIM 0 -
Amazon pay 0 -
21.2 15.4 paytm

google pay
phone pe
63.5 bhim
amazon pay
INTERPRETATION
From above analysis it can be interpretated that 15.4% respondents use paytm application, 63.5%
respondents use google pay, and 21.2% respondents use phonepe application, and no one using
BHIM AND amazon pay applications.
➢ TO WHAT EXTENT YOU ARE SATISFIED WITH THE E- BANKING

SERVICES?
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Table: 19
Options No. of respondents Percentage
Highly satisfied 14 26.9

Satisfied 32 61.5
Neutral 5 9.6
Dissatisfied 1 1.9
Highly dissatisfied 0 -
1.9 0
9.6 26.9 highly satisfied

satisfied
neutral
61.5 dissatisfied
highly dissatisfied
INTERPRETATION
From above analysis it can be interpretated that 26.9% respondents are highly satisfied, 61.5%
respondents are satisfied, 9.6% respondents are neutral, 1.9% respondents are dissatisfied, and no
one is dissatisfied with the e- banking services.
➢ WHAT TYPES OF BENEFITS YOU ARE AVAILING WHILE USING E-

BANKING SERVICES?
Table: 20
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Easy accessibility 32 61.5
Availability 22 42.3
Easy fund transfer 27 51.9
Time saving 26 50
others 1 1.9
1.9
50 61.5 easy accessibility

availability
easy fund transfer
51.9 42.3
time saving
others
INTERPRETATION
From above analysis it can be interpretated that 61.5% respondents gets the benefits of easy
accessibility, 42,3% respondents get the benefit of availability, 51.9% respondents get the benefit
of easy fund transfer, 50% respondents gets the benefit of time saving, and 1.9% respondents
gets others benefits from e- banking services
➢ WHAT ARE YOUR PREFERENCES WHILE USING E- BAKING SERVICES?
Table: 21
Good services 21 40.4

Convenience 12 23.1
Accessibility 6 11.5
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Security 13 25
others - -
25 good services
40.4
convenience
11.5
accessibility
23.1 security
others
INTERPRETATION
From above analysis it can be interpretated that 40.4% respondents prefer good services, 23.1%
respondents prefer convenience to use e- banking, 11.5% respondents prefer accessibility, 25%
respondents prefer security while using e- banking services.
➢ FOR WHICH PUPOSE YOU ARE USING E- BANKING SERVICES?
Table: 22
Fund transfer 20 39.2

Online purchase & 24 47.1
payment
To avail bank services 4 7.8
Check bank statement 2 3.9
others 1 2
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3.9 2 fund transfer
7.8
39.2 online purchase and
payment
to avail bank services
47.1
check bank statement
others
INTERPRETATION
From above analysis it can be interpretated that 39.2% respondents use e- banking for fund
transfer, 47.1% respondents use for online purchase and payment, 7.8% respondents use to avail
bank services, 3.9% respondents use to check bank statement, and 2% respondents used for some
other purpose.
➢ WHAT TYPE OF CHALLENGES YOU MOSTLY FACED WHILE USING E-

BANKING SERVICES?
Table: 23
Critical process 5 9.4

Technical problem 29 54.7
Errors 10 18.9
Hacking risk 2 3.8
Slow speed 7 13.2
others - -
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3.8 critical process
13.2 9.4
technical problem
18.9 errors
54.7 hacking risk
slow speed
others
INTERPRETATION
From above analysis it can be interpreted that 9.4% respondents faced critical process problem,
54.7% respondents face technical problems, 18.9% respondents face errors problem, 3.8%
respondents face hacking risk problem, 13.2% respondents face slow speed problems while using
the e- banking services.
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CHAPTER 5
FINDINGS, LIMITATIONS AND SUGGESTIONS
5.1. FINDINGS
Following are some of the findings which describes that what kind of opinion the respondents is
having regarding e- banking services.
• The gender plays a very important role in the e- banking services, as the responses
shows that there 65% female who are using the e- banking services and only 35%
male using the e- banking services. the study, therefore, shows that e- banking
services is more popular among female as compare to male.
• The age group, matters a lot, as the respondents who lies in the age group of 18-25
using the e- banking services more with 81.7% as compere to less than 18 age group
and more than 25 age group.
• As this study was conducted among the management and engineering students, and it
is found out that the management students using the e- banking services more as
compare to the engineering students. The management students having 60%
respondents, and the engineering students is of 40% respondents. The study, therefore
shows that the e- banking services is more used by the management students.
• The study also reveals that some of the respondents did not interest to reveal whether
they are using the e- banking services or not, because they had the fear of losing their
data and hacking their banking account, that’s why they do not provides information
about e- banking services.
• The study reveals that 81.7% respondents are using the e- banking services, but
88.3% respondents having their own bank account, that means, 6.6% respondents
having their own bank accounts does not availing the e- banking services, it may be
concluded that the respondents who does not having their own bank account using the
e- banking services on account of some another person.
• The respondents using the mobile banking more as compare to another e- banking
services which is 40%, when the reason was asked then they responded that it is
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convenient to use mobile banking by using the application on mobile phone, and the
respondents find difficulty to use another e- banking services sometimes. So that’s
why they preferred more to use mobile banking to avail e- banking services.
• The study also reveals that the more respondents using the google pay with 63.5%, of
the respondents as compare to another application. The respondents find it’s the safest
and secure mobile application and it is to use google pay as compare to another
application. The study therefor shows that the google pay is widely used payment
application.
• The study shows that 61.5% respondents are satisfied from the e- banking services.
and they are availing the e- banking services, and 1.9% respondents are dissatisfied
from the e- banking services. 26.9% respondents are highly satisfied from the e-
banking services and 9.6% respondents are neutral, neither satisfied nor dissatisfied
from e- banking services.
• 61.5% respondent use the e- banking services due to the easy accessibility to use.
People will find out it very easy to use make the payment and to avail the e- banking
services through the e- banking services. the study, therefore shows that the
respondents get accessibility to use e- banking services.
• The study shows that there is significant difference between availing the e- banking
services and age of the respondents, as by applying the chi- square tool to test the
hypothesis the calculated value is 19 and the tabular value is 5.991, and the calculated
value is more than the tabular value so that’s why null hypothesis of the study is
rejected and it can be concluded that there is significant difference between the
availing the e- banking services and age of the respondents.
• The study reveals that there is no significant difference between preferences of e-
banking services and educational curses of the respondent as by applying chi- square
tool, the calculated value is 6.5 and the tabular value is 7.8 as the calculated value is
less than the tabular value then, null hypothesis of the study is accepted.
• It was found out that there is no significant difference between challenges to use e-
banking services and gender of the respondents. As by applying the chi- square tool,
the calculated value is 3.9 and the tabular value is 9.4, as the calculated value is less
than the tabular value, so the null hypothesis of the study is accepted and there is no
62 | P a g e
significant differences between challenges of the e- banking services and gender of
the respondents.
• The study found out that 40.4% respondents preferred good services to avail e-
banking services, it means the respondents preferred the services, hey liked the
services of e- banking services and that’s why good services is the reasons of the
respondents to avail e- banking services.
• This study shows that 47.1% respondents using the e- banking services for the
purpose of the online purchase and payment and 39.2% respondents using the e0-
banking services for the fund transfer.
• This study shows that 54.7% respondents facing the problem of technical issues while
using the e- banking services, sometimes they don’t understand technological
prospects of the e- banking services and 18.9% respondents faces the challenges of
errors while using the e- banking services.
5.2. LIMITATIONS
Following are some of the limitations of this study, Though the study was conducted with due
care and diligence but like other studies this study is also not free from limitations:
• This study was conducted only among the management and engineering students and the
scope of the study was so limited. It is difficult to know or to determine the perception of
the users of the e- banking services on the basis of the management and engineering
students as it doesn’t give them enough data to determine the perception.
• The scope of this study is limited as the study was conducted among only 60 students,
which are not enough to know the perception on e- banking services at the universal
level.
• This study used only chi- square tool to test the hypothesis and doesn’t use any other tool
to test the hypothesis.
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• The study just focusses upon the students and no other people, and the student of
management and engineering background will be taken into consideration for the purpose
of the research of the perception of students on the electronic banking services.
• To collect the primary data from the students’ sampling method has been used. therefore,
data relating to the students may not free from the limitations of convenience sampling.
5.3. SUGGESTIONS
Following are some of the suggestions which should be given for the improvement of this
research project as there are many limitations in this research project, so to improve that
limitation it is very important to provides some of the suggestions, so that the improvement can
be made and further the limitations cab be removed. As the research project some of the findings,
so on the basis of these findings’ suggestion would be provided. Following are the suggestions:
• The scope of the research project should be expanded, it means that instead of conducting
the research among the management and engineering students the study should be
conducted among the all the people so that the proper determination regarding the
perception of the people towards e- banking services can be made.
• It would be suggested that if the study would be happened among the students only then
instead of considering the management and engineering students, the study should be
conducted among all the students, belongs to the different background or courses.
• The another should be given that the number of respondents should be more, it means 60
students are not so much enough to determine the perception of the people regarding the
e- banking services, so it would be suggested expand the scope of the people to determine
the perception of the people towards the e- banking services.
• Age, gender and type of occupations have significantly influenced the perception of the
customers with respect to level of risk perceived, customers satisfaction and usage of e-
banking services. therefore, all banks are advised to take these socio- economic attributes
64 | P a g e
of the customers into account while framing these policies with this regard to e- banking
services.
• It has been noticed that except debit card services, utility bill payment services, account
summary, fund transfer services and credit card services, the usage of all other services is
moderate and poor due to lack of awareness. Hence, wider use of e- banking services
among the bank customers should be ensured by all the banks. Funds transfer through e-
banking services have been reported as the riskiest operations and therefore, all banks are
advised to be more sensitive towards security concerns regarding these services.
• Based on the perception of customers, analysis have revealed that e- banking services is
highly used by bank customers whereas, communications through mobile SMS and e-
mails have emerged as major source of information for spreading awareness among
customers. Hence, banks should improve and update their e- banking services from time
and bank should also develop their strategies accordingly regarding increasing awareness
among customers.
5.4. CONCLUSION
• During the post liberalization era, entry of many new private and foreign banks in Indian
banking industry has intensified the level of competition in banking business. This has
resulted into the significant expansion of information of information and communication
technology in banking industry worldwide.
• Technology has become an essential component for every bank while delivering banking
services to its customers. Almost every Indian bank has developed web-based portals to
provide better services to their customers. E- banking service have become an integral
part of Indian banking and are playing a pivotal role in strengthen the banking sector and
improving services quality.
• The perception level of the students or the customers with regard to the electronic
banking services covered four important, like: awareness level of e- banking services, its
usage, risk level and satisfaction level.
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• It can be concluded on the basis of the results of chi- square that the management
students have more awareness as compared to the engineering students, and the
management students using the electronic banking services more as compared to the
engineering students.
• Among various expectations of the electronic banking services, easy accessibility, high
speed, low transactions, better customer services, disruption free network, are the main
expectations expected by the customers.
• Among various factors which influenced the electronic banking services: time savings,
convenience, range of services, easiness, better quality services are highly influenced
factors influencing electronic banking services.
• On the basis of perception of the students it can be concluded that female students using
more electronic banking services as compare to male students.
• Based on the perception of the students, it can be concluded that among different channel
of electronic banking services mostly used e- banking services are, internet banking,
ATM, mobile banking, branch banking. Whereas, communications from bank through
mobile SMS and e-mails has emerged as the major source of information for spreading
among bank customers.
• On the basis of the result of the chi- square it can be concluded that there is significant
difference between availing of the e- banking services and age of the respondents.
• Based on the chi- square test and analysis it can be concluded that there is no significant
difference between preferences to use e- banking services and educational course of the
respondents.
• On the basis of the chi- square analysis and interpretation, it can be concluded that there
is no significant difference between challenges faced to use e- banking services and
gender of the respondents.
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APPENDIX
QUESTIONNAIRE
E- BANKING SERVICES
Dear respondent,
My name is Janvi Garg. I am a student of MBA (Finance). I am conducting a survey on E-
banking services for my research project, which is the part of my MBA degree.
The main aim of this survey is to collect the data regarding e- banking services from the
management and engineering students and to identify whether they are using e- banking services
or not and which e- banking services is mostly used by them. Besides, from this some other
information is there which are asked in this form. I assure you that the information provided by
you will be kept confidential and will be used only for academic purpose.
1. NAME
2. AGE
• Below 18
• 18 to 25
• Above 25
3. GENDER
• Male
• Female
4. Course in which you are studying

• Management
• Engineering
71 | P a g e
5. In which bank you have an account?
• SBI
• PNB
• HDFC
• ICICI
• OTHERS
6. Are you availing e- banking services?

• Yes
• No
7. If yes, then which e- banking services you mostly used?

• Internet banking
• Mobile banking
• ATM
• Debit card/ credit card
• Telebanking
• Others
8. Are you using the mobile banking application of selected bank?

• Yes
• No
9. Which payment application you are mor using?

• Paytm
• Phonepe
• Google pay
72 | P a g e
• BHIM
• Amazon pay
• Others
10. To what extent, you are satisfied with e- banking services?
• Highly satisfies
• Satisfied
• Neutral
• Dissatisfied
• Highly dissatisfied
11. What types of benefits you are availing while using e- banking services?
• Easy accessibility
• Everywhere availability
• Easy fund transfer
• Time saving
• Others
12. What are your preferences while using e- banking services?

• Good services
• Convenience
• Accessibility
• Security
• Others
13. For which purpose you are using e- banking services?

• Fund transfer
• Online purchase and payment
• To avail banking services
73 | P a g e
• To check bank statement
• Others
14. What types of challenges you mostly faced while using e- banking services?
• Critical process
• Technical process
• Errors
• Hacking risk
• Slow speed
• Others
74 | P a g e

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RESEARCH PROJECT ON

E- Banking Services: A Study of Management

Under the guidance of:

Submitted to SCHOOL OF MANAGEMENT STUDIES,

Signature of the candidate

1.1 Electronic banking services………………………………………………6-7

3.1 Need of the study……………………………………………………....33-34

4. DATA ANALYSIS AND INTERPRETATION………………………...39-60

4.1 Testing of Hypothesis………………………………………………….40-48

5. FINDINGS, LIMITATIONS, AND SUGGESTIONS………………….61-66

1.1. ELECTRONIC BANKING SERVICES (E- BANKING SERVICES)

Electronic banking is commonly referred to as internet banking or simply net banking. It is an

1.2. HISTORY OF E- BANKING

1.3. TRADITIONAL BANKING V/S ELECTRONIC BANKING

Traditional banking is characterized by the applications of strict regulations, while modern

a) It doesn’t have any physical locations.

a) It has brick and mortar branches available.

1.4. FEATURES OF E- BANKING SERVICES

a) Secure login with unique ID and password.

1.5. SIGNIFICANCE OF E- BANKING

➢ Instant and secure:

➢ Reduce banking errors:

➢ Reducing banking costs:

➢ Increase business productivity:

E-banking leads to increased productivity. Spend on routine banking by automating

➢ Business activity review:

1.6. CLASSIFICATION OF E- BANKING SERVICES

➢ ATM (Automated Teller Machines)

➢ Electronic Clearing Card (ECC)

➢ Electronic Funds Transfer (EFT)

➢ Electronic Payment Services (ECS)

➢ Door Step Banking

1.7. EMERGING CHALLENGES IN ELECTRONIC BANKING SERVICES

E-banking services have changed people's habits of going to

This is the most important aspect to consider when using e-

➢ Changes in the banking industry

1.8. RBI’S RECOMMENDATIONS ON E- BANKING SERVICES

1.9. STUDENT’S PERCEPTION ON E- BANKING SERVICES

➢ Perceived ease of use:

ALTERNATIVES MODEL OF TAM MODEL:

• The MPT Model

1. Author: Polaris Software Lab Limited

➢ In this study, Polaris Software and IndusInd Bank showcase INTELLECT

2. Author: Malhotra, Pooja & Singh, B.

5. Authors: Reeti Sanjay, and Malhotra, A.

➢ This survey was conducted to determine customers' perceptions of e-banking services

6. Authors: Uppal, R.K. & Chawla, R.

➢ This survey was conducted to determine customer perceptions of e-

8. Author: Shah & Braganza

9. Author: Nitsure R.R.

➢ This study describes the challenges and opportunities associated with e-

10. Author: Asghar

3.1. NEED OF THE STUDY

3.3. OBJECTIVE OF THE STUDY

• To study that which E- Banking service is more used by the students.

3.4. RESEARCH DESIGN

3.5. SAMPLING SIZE

3.6. DATA COLLECTION