Dikshant Jadhav - Black Book MMS Final

UNIVERSITY OF MUMBAI
MUMBAI INSTITUTE OF MANAGEMENT &

RESEARCH
Wadala (East), Mumbai- 400 037
A.Y: 2023-2024
A SUMMER INTERNSHIP PROJECT REPORT

SUBMITTED IN PARTIAL FULFILMENT OF MASTERS IN MANAGEMENT
STUDIES SEMESTER III
SPECIALIZATION: FINANCE
“A COMPARATIVE STUDY OF E-BANKING OF
ICICI BANK AND HDFC BANK”
SUBMITTED BY
MR. DIKSHANT MILIND JADHAV

ROLL NO: 19027
UNDER THE GUIDANCE OF

PROF. ALIRAZA SAYYAD
DECLARATION
I, Mr. DIKSHANT MILIND JADHAV hereby declare that the Project entitled “A
COMPARATIVE STUDY OF E-BANKING OF ICICI BANK AND HDFC
BANK” has submitted to the Mumbai Institute of Management & Research in
partial fulfilment for the award of the M.M.S. degree
Mr. DIKSHANT MILIND JADHAV

ROLL NO : 19027
SPECIALIZATION : FINANCE
Place : Mumbai
Date :
CERTIFICATE
This is to certify that Mr. DIKSHANT MILIND JADHAV student of

MMS Program, at Mumbai Institute of Management & Research
(Affiliated to University of Mumbai) THE SUMMER INTERNSHIP
PROJECT has successfully completed the project entitled, “A
COMPARATIVE STUDY OF E-BANKING OF ICICI BANK
AND HDFC BANK” under the guidance of PROF. ALIRAZA
SAYYAD
Prof. ALIRAZA SAYYAD Dr. ARVIND BIRADAR

INTERNAL GUIDE DIRECTOR
Place : Mumbai
Date :
ACKNOWLEDGEMENT
This satisfaction and euphoria that accompanied the successful completion of any task would
be without the mention of the people who made it possible, whose constant guidance and
encouragement crowned out efforts with success. I take this opportunity to express our deep
sense of gratitude and respect to our supervisor Prof. Aliraza Sayyad faculty member of
MMS program for the valuable guidance for providing us with essential facilities for
completing and presenting this project.
I take this opportunity to thank the University of Mumbai for giving me chance to do this
project.
I would also like to thank our DIRECTOR and Prof. Aliraza Sayyad of Mumbai Institute
of Management & Research for guiding towards completion of the project.
I am greatly indebted to their help, which has been of immense value and has played a major
role in bringing this to a successful completion. I would like to thank my family and friends
for their constant support and encouragement throughout our project.
It was an indeed learning experience for me.

EXECUTIVE SUMMARY
E-banking on HDFC bank and ICICI bank is an incredibly convenient and powerful tool
gives an important advantage for banks and customer’s e-banking has made transactions
userfriendly and virtual access much faster for the customers. A pleasant environment saves
time spent in the bank, provides worldwide access of banking services on all days, provides
well organized cash management for internet optimization, security, and privacy to
customers. Therefore, the research was conducted to study comparative study of E – Banking
of HDFC Bank and ICICI Bank.
First chapter gives the broad introduction of Comparative study of E – Banking of HDFC
Bank and ICICI Bank. It briefs us about history, evolution, E – Banking and HDFC Bank and
ICICI Bank profile which helps us understand importance and need of E -Banking services of
HDFC and ICICI Bank.
Second chapter of the survey report deals with Literature review. A literature review discusses
published information in a particular subject area, and sometimes information in a particular
subject area within a certain time period. A literature review can be just a simple summary of
the sources, but it usually has an organizational pattern and combines both summary and
synthesis. A summary is a recap of the important information of the source, but a synthesis is
a re-organization, or a restructuring, of that information. It might give a new analysis of old
material or combine new with old interpretations. Or it might trace the rational progression of
the field, including major debates. And depending on the circumstances, the literature review
may evaluate the sources and recommend the reader on the most relevant information.
Third chapter gives us information on research methodology. Research methodology is the
specific measures or techniques used to identify, select, process, and analyse information
about a topic. In a research paper, the methodology section allows the reader to critically
evaluate a study’s overall validity and dependability. The methodology section answers two
main questions: How was the data collected or generated? How was it analysed? It also
includes objectives, scope and importance of the research.
Fourth chapter deals with data analysis and interpretation. Data analysis and interpretation is
the process of assigning meaning to the collected information and determining the
conclusions, significance and inferences of the findings. Analysis involves approximating the
values of unknown parameters of the population and testing of assumptions for drawing
inferences. In this chapter, the captured data from the qualitative and quantitative research is
presented, analysed, defined and interpreted in an organised manner as the next step of the
research process. The documentation and analysis process aimed to present data in a
comprehensible and interpretable form in order to identify trends and relations in accordance
with the research aims.
Last chapter of the research deals with the findings, conclusions, recommendations and
suggestions. Findings means facts and figures collected by an auditor to satisfy the objectives
of the research. Conclusions are the implications drawn by the researcher from the findings
and the courses of action suggested by the researcher in line with the objectives of the
research are
called as recommendations and suggestions.

TABLE OF CONTENTS
Chapter No. Topic Page No.

1.0 Introduction 1
1.1 E – Banking 2
1.2 Indian E – Banking Scenario 3
1.3 E – Banking v/s Traditional Banking 4
1.4 Types of E - Banking 7
1.5 Advantages of E – Banking 8
1.6 Disadvantages of E – Banking 9
1.7 Role of Banks in E – Banking 10
1.8 ICICI Bank Profile 12
1.9 HDFC Bank Profile 16
1.10 SWOT Analysis of HDFC & ICICI Bank 18
2.0 Literature Review 22
2.1 Meaning 22
2.2 Purpose of literature review 22
2.3 Research in India 22
2.4 Research in Abroad 29
3.0 Research methodology 34
3.1 Data collection 34
3.2 Objectives of the study 36
3.3 Scope of the study 36
3.4 Need of the study 37
3.5 Limitations of the study 37
4.0 Data analysis and interpretation 38
5.0 Findings, Suggestions and Recommendations, 59
Conclusion
5.1 Findings 59
5.2 Suggestions and Recommendations 60
5.3 Conclusion 62
• Reference 65
• Webliography 68
• Annexure 70
1.0 INTRODUCTION
Electronic banking is an umbrella term for the process by which a customer may perform
banking transactions electronically without visiting a brick-and-mortar institution. The
following terms all refer to one form or another of electronic banking: personal computer
(PC) banking, Internet banking, virtual banking, online banking, home banking, remote
electronic banking, and phone banking. PC banking and Internet or online banking is the
most frequently used designations. It should be noted, however, that the terms used to
describe the various types of electronic banking are often used interchangeably.
Electronic banking is an activity that is not new to banks or their customers. Banks having
been providing their services to customers electronically for years through software
programs. These software programs allowed the user's personal computer to dial up the bank
directly. In the past however, banks have been very reluctant to provide their customers with
banking via the Internet due to security concerns.
Today, banks seem to be jumping on the bandwagon of Internet banking. Why is there a
sudden increase of bank interests in the Internet? The first major reason is because of the
improved security and encryption methods developed on the Internet. The second reason is
that banks did not want to lose a potential market share to banks that were quick to offer their
services on the Internet.
Many of the banks are offering E-banking services. The analysts' comments that India had a
high growth potential for e-banking the players focused on increasing and improving their
Ebanking services. As a part of this, the banks began to collaborate with functions online.
Why is there a sudden increase of bank interests in the Internet? The first major reason is
because of the improved security and encryption methods developed on the Internet. The
second reason is that banks did not want to lose a potential market share to banks that were
quick to offer their services on the Internet.
1.1 E – BANKING
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The Internet has revolutionized the way we live, shop, entertain and interact and also the way
we save and invest. Internet banking arrived in India in the late 1990s.
ELECTRONIC BANKING is term for the process by which customer may perform banking
transactions electronically without visiting institution. The following terms all refer to one
form or another of electronic banking: personal computer (PC) banking, Internet banking,
virtual banking, online banking, home banking, remote electronic banking, and phone
banking. PC banking and Internet or online banking is the most frequently used designations.
It should be noted, however, that the terms used to describe the various types of electronic
banking are often used interchangeably.
Electronic banking is an activity that is not new to banks or their customers. Banks
having been providing their services to customers electronically for years through
software programs. These software programs allowed the users personal computer to
dial up the bank directly. In the past however, banks have been very reluctant to provide
their customers with banking via the Internet due to security concerns.
The E-banking was firstly introduced in India by the ICICI around 1996. There after
many other banks like HDFC, SBI, IDBI, Citibank Trust Banks, UTI, etc. followed the
service. As today private and foreign bank had started capturing the market through e-
banking hence the competition is heating up and the lack of technology can make a bank
loose a customer so now the public banks are breaking the shackles of traditional set-up
and gearing up to face the competition posed by the private sector counterparts.
Today, banks seem to be jumping on the bandwagon of Internet banking. Why is there a
sudden increase of bank interests in the Internet? The first major reason is because of the
improved security and encryption methods developed on the Internet. The second reason
is that banks did not want to lose a potential market share to banks that were quick to
offer their services on the Internet.
Many of the banks like ICICI, HDFC, IndusInd, IDBI, Citibank, Global Trust Bank
(GTB), Bank of Punjab and State bank of India (SBI) were offering E-banking services.
The analysts’ comments that India had a high growth potential for e-banking the players
focused on increasing and improving their E-banking services. As a part of this, the
banks began to collaborate with functions online.
➢ DEFINITION OF E – BANKING
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• E-banking is defined as the automated delivery of new and traditional banking
products and services directly to customers through electronic, interactive
communication channels.
• Electronic banking, also known as electronic funds transfer (EFT), is simply

the use of electronic means to transfer funds directly from one account to
another, rather than by cheque or cash.
• Electronic banking is a form of banking in which funds are transferred through
an exchange of electronic signals rather than through an exchange of cash,
checks, or other types of paper documents.
• E-banking includes the systems that enable financial institutions, customers,
Individuals & businesses to access accounts transact business or obtain
information on financial products and services through a public or private
network including the Internet, customers access e- banking services using an
intelligent electronic device.
1.2 INDIAN E – BANKING SCENARIO
Technology has touched every aspect of our lives. Right from the moment we wake
up to the moment we go back to bed at night, technology surrounds us. The Indian
banking system is seeing a fabulous change in the quality of service provided by
them. Technology is the root of this change, which is implemented by the banks to
win more business from customers. Almost all the private sector banks are moving
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towards E - Banking to enable their existing products. HDFC Bank and ICICI Bank
have taken a lead in introducing e-banking in India.
E - Banking is the most used feature by the citizens of India after the effect of
demonetization. In India, Reserve Bank of India outlined the mission to ensure that
payment and settlement systems are safe, efficient, interoperable, authorized, and
accessible.
The COVID-19 pandemic has encouraged banking customers to turn towards internet
and mobile banking platforms to conduct daily transactions instead of relying on cash.
With the ongoing digital drive in India, the number of users opting for online banking
is expected to double to reach 150 million mark by 2021, from the current 45 million
active urban online banking users in India, according to a report drafted by Facebook
and The Boston Consulting Group (BCG).
1.3 E – BANKING V/S TRADITIONAL BANKING
BASIC E - BANKING TRADITIONAL BANKING

Global E-Banking Practices involve Traditional Practice provides
coverage global coverage while sitting limited coverage.
at home/office.
Presence E-banking do not have Banks exist physically for serving

physical presence as services the customers.
are provided online.
Time It does not consume time as It consumes a lot of time as

customers do not have to customers have to visit banks to
visit banks to check bank carry out bank transactions like
balances or to transfer — checking bank balances,
money from one account to transferring money from one
another. Customers can account to another.
access their account readily
from anywhere with a
computer and internet
access.
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Accessibility E-banking is available at any People must visit banks only
time and it provides 24 during the working hours.
hours access.
Security E-banking is the tempting Traditional banking does not

target for hackers. Security encounter e-security threats.
is one of the problems faced
by customers in accessing
accounts through internet.
Financial Customers who often travel Customers who often travel

control abroad can have greater abroad cannot pay close attention
control over their finances. and control of their finances.
Reduction of With the system of Traditional banking practices do

errors/ reconciliation of inter- not provide a complete check on
Frauds branch transactions, frauds banking transactions.
and errors could be reduced.
Manual Small amount of manual Large amount of

inspection inspection. manual inspection.
Paperwork It is paperless as every It involves large amount of

transaction performed paperwork.
electronically.
Expensive Customers do not have to Customers have to spend money

spend money for visiting for visiting banks.
banks. They can avoid bank
charges that may be charged
for certain teller transactions
or when they pay bills
electronically - directly from
their account to the
merchant. It helps to save
money on postal charges.
Risk of E-banking provides banking In the case of traditional

carrying without carrying cash as business, a person has to carry
cash plastic money (ATMs, Credit cash at each point of time.
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cards are available)
Cost Operating and fixed cost are The cost incurred by traditional
eliminated as the banks do banks includes a lot of operating
and fixed costs. It is not cost
not have physical presence. effective.
It
is cost effective
Prompt In E-banking, the customers ln traditional banks, the
Services do not have to stand in employees and clerical staff of
queues to carry out certain the bank can attend only few
bank transactions. customers at a time.
Contact Customers can have only Customers can have face to face
electronic contacts. contact in traditional banking.
➢ E – BANKING AROUND THE GLOBE

Country Percentage of E - Banking Users
Norway 92%
Denmark 90%
Finland 87%
Sweden 86%
United Kingdom 68%
United State of America 67%
India 51%
China 42%
Greece 25%
Bulgaria 5%
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1.4 TYPES OF E – BANKING
1. MOBILE BANKING
Most banks now also have an app for Mobile Banking. Just like the online portal of the bank
used for Internet Banking, you can use the app for many different types of banking
transactions. You can download the app of your bank and use this facility. The apps can also
be used for transferring funds, checking account statements, locate the nearest ATM, and
other banking services.
2. INTERNET BANKING
Internet Banking lets you handle many banking transactions via your personal computer. For
instance, you may use your computer to view your account balance, request transfers
between accounts, and pay bills electronically.
3. AUTOMATED TELLER MACHINES (ATM)
ATM or Automated Teller Machine is one of the most popular types of electronic banking.
The teller machine is also an electronic computerized telecommunication device which
enables you to withdraw funds, deposit funds, change Debit Card Personal Identification
Number (PIN), and use other banking services. It eliminates the need of visiting a bank and
doing these transactions through a human teller. The number of ATMs under the National
Financial Switch (NFS) network amounted to over 252 thousand as of June 2021.
4. DEBIT CARD
Debit cards are also known as check cards. Debit cards look like credit cards or ATM
(automated teller machine) cards but operate like cash or. This card is connected to your
bank account and you can use the funds from your account directly through this card.
When you use your Debit Card for a transaction, the transaction amount is deducted
from your bank account. You can use the card to pay at POS outlets, shop online, and
withdraw cash from ATMs.
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5. TELE BANKING
Undertaking a host of banking related services including financial transactions from the
convenience of customers chosen place anywhere across the GLOBE and any time of
date and night has now been made possible by introducing on-line Telebanking services.
By dialing the given Telebanking number through a landline or a mobile from anywhere,
the customer can access his account and by following the user-friendly menu, entire
banking can be done through Interactive Voice Response (IVR) system.
6. OTHERS
• Telephone Banking
• Smart cards
• E - Cheque
• Electronic Clearing Cards
• EFT (Electronic Funds Transfer) System
1.5 ADVANTAGES OF E - BANKING
1. An online account is simple to open and easy to operate.
2. It's convenient, because you can easily pay your bills and transfer your funds
between accounts from nearly anywhere in the world.
3. You do not have to stand in a queue to pay off your bills. Also, you do not have to
keep receipts of all of your bills, as you can now easily view your transactions.
4. It is available all the time. You can perform your tasks from anywhere and at any
time, even at night or on holidays when the bank is closed. The only thing you
need to have is an active internet connection.
5. This not only serves as a history of all the transactions but also helps you identify
threats and suspicious activities before any severe damage can be done to your
account. Online accounts are protected with encryption software that ensures
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complete safety to the user. Alerts related to passwords and digital signatures are
sent periodically to maintain the security of the account.
6. It is fast and efficient. Funds get transferred from one account to the other very
fast. You can also manage several accounts easily through internet banking.
7. You can keep an eye on your transactions and account balance all the time.
8. You can get to know about any fraudulent activity or threat to your account
before it can pose any severe damage.
9. It's a great medium for the banks to endorse their products and services.
10. More online services include loans and investment options.
1.6 DISADVANTAGES OF E – BANKING
1. Understanding the usage of internet banking might be difficult at the first. That
said, there are some sites which offer a demo on how to access online accounts
(not all banks offer this). So, a person who is new to technology might face some
difficulty.
2. E-banking has reduced the bank to customer personal interaction, since all the
transactions are handled by the customer from the internet account there is no
personalized banking service which reduces customer to bank interaction.
3. You cannot have access to online banking if you don’t have an internet
connection; thus, without the availability of internet access, it may not be useful.
4. Security of transactions is a big issue. Your account information might get hacked
by unauthorized people over the internet.
5. Password security is a must. After receiving your password, change it and

memorize it. Otherwise, your account may be misused.
6. Your banking information may be spread out on several devices, making it more
at risk.
7. If the bank’s server is down, then you cannot access your accounts.
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8. While you can easily pay bills and transfer funds, you can’t perform complex
transactions online. When a large sum of money is involved, it is advisable to
visit
a real bank and sort it out in-person rather than doing it online. Some financial
transactions also need a document verification (like buying a house) so it is better
to submit them physically than digitally.
9. If you don’t have a decent connection or there are bugs in the software, or say,
there is a power cut or maybe the servers have gone down – websites are bound
to crash, and you will undoubtedly face a lot of technological issues.
10. You might get overly marketed too and become annoyed by notifications. That
said, these can easily be turned off. Also, you might become annoyed by constant
emails and updates.
1.7 ROLE OF BANKS IN E – BANKING
A sound financial system is important for a healthy and vibrant economy. The banking
sector constitutes a main element of financial service industry. The performance of an
economy to a large extent is dependent on the performance of the banking sector. The
banking system in India should not only be hassle free but it should be able to meet the
new challenges posed by technology and any other internal or external factor. ICICI and
HDFC are the two major private sector banks flourishing in India. Increased
competition, new technology and thereby declining processing cost, the erosion of
product and product boundaries and less restrictive governmental regulations have
played a major role for the private banks to compete with each other.
1.8 INDUSTRIAL CREDT AND INVESTMENT CORPORATION OF

INVESTMENT CORPORATION OF INDIA
(ICICI) BANK PROFILE
❖ INTRODUCTION
ICICI Bank is a leading private sector bank in India.

ICICI Bank is India's first-largest bank with total
assets of ₹ 15.74 trillion at 31 st March, 2021 and core
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operating profit ₹ 313.51 billion for the F.Y. 2020 - 2021. ICICI
Bank is a large private sector bank in India offering a diversified
portfolio of financial products and services to retail, SME and
corporate customers. The Bank has an extensive network of
branches, ATMs and other touch points. It is at the forefront of
leveraging technology and offering services through digital
channels like mobile and internet banking. ICICI Bank currently
has a network of 5,288 branches and 14,040 ATMs across India.
❖ HISTORY
ICICI Bank was established by the Industrial Credit and Investment Corporation
of India (ICICI), an Indian financial institution, as a wholly owned subsidiary in
1994 in Vadodara however the parent company was formed in 1955 as a joint venture
of the World Bank, India's public-sector banks and public-sector insurance
companies to provide project financing to Indian industry. The principal objective
was to create a development financial institution for providing medium-term and
long-term project financing to Indian businesses. Until the late 1980s, ICICI
primarily focused its activities on project finance, providing long-term funds to a
variety of industrial projects. With the liberalization of the financial sector in India in
the 1990s, ICICI transformed its business from a development financial institution
offering only project finance to a diversified financial services provider that, along
with its subsidiaries and other group companies, offered a wide variety of products
and services. As India’s economy became more market-oriented and integrated with
the world economy, ICICI capitalized on the new opportunities to provide a wider
range of financial products and services to a broader spectrum of clients. ICICI Bank
was incorporated in 1994 as a part of the ICICI group. In 1999, ICICI became the
first Indian company and the first bank or financial institution from non-Japan Asia
to be listed on the New York Stock Exchange.
➢ ICICI BANK PROFILE:
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PARTICULARS DESCRIPTION
Type Public
Industry Banking, Financial services.
Founded 5 January 1994.
Area served Worldwide.
Key people Mr. Sandeep Bakhshi, Managing Director & CEO, Mr.
Girish Chandra Chaturvedi (Chairman).
Products
Retail banking, corporate banking, investment banking,
mortgage loans, private banking, Wealth Management,
credit cards, finance and insurance.
Tagline “Hum Hai na…”
Vision To be the leading provider of financial services in India

and a major global bank.
Mission
ICICI will leverage our people, technology, speed and
financial capital to be the banker of the first choice for
our customers by delivering high quality, world-class
products, and services.
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Objective
The objective of ICICI bank is to meet the needs of the
private industry for long and medium-term funds in the
private sector.
➢ ROLE OF ICICI BANK IN E - BANKING
The E-banking was firstly introduced in India by the ICICI around 1996. ICICI net
banking / internet banking offers various facilities and has been registering increasing
number of customers as well. The facility of net banking is immense and hence it offers
one of the largest customer bases. Some e-banking facilities provided by ICICI bank are
as follows -
1. Dashboard Features:
• Dashboard has My Profile, Shortcut’s customization, Card PIN generation and

Personalize View and many other features.
2. Transfer Funds:
• Transfer funds to bank A/c / overseas A/c / through NEFT / RTGS /

Money2world
• Cardless cash withdrawal
• Send smart Money Order
• Donate Online
3. Payee Management:
• Add ICICI payees / other bank payee

• View my Registered Payees using URN
• Confirm Payee for Fund Transfer using URN
• Confirm Cardless Cash Withdrawal Payee using URN4
4. Bill Payments:
• Bill Payment to registered Billers
• Pay Visa Credit Card Bill (any bank)
• View and Modify registered billers
5. View your Transaction status:
• Scheduled Transactions
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• Completed Transactions
• Payment Summary
• Cardless Cash Withdrawal Transactions
6. Others:
• Apply for Government schemes, Demat Account, View statements, Deposits, Manage
Loan A/c / Credit cards, Insure online, Invest online.
7. Unique features:
• E-locker, m.icicibank.com, Quick shopping, Virtual Credit Card, Register for Digital
Signature Certificate, Apply for Gift Card
➢ ICICI STACK
ICICI Bank launched ICICI Stack, the most comprehensive digital infrastructure available in
the banking industry in India. A comprehensive set of digital banking solutions for corporates
and their entire ecosystem including promoters, group companies, employees, dealers,
vendors, and all other stakeholders. It enables millions of retail customers and businesses to
continue uninterrupted banking services digitally, without visiting any bank branch.
➢ InstaBIZ
InstaBIZ is an app for business customers to access banking accounts and do transactions on
both mobile and tablet devices. All you need to have is Business Banking Debit/Inquiry Card
or Corporate Internet Banking access.
➢ iMobile Pay by ICICI Bank
Mobile Pay is ICICI Bank's official mobile banking application. iMobile Pay, the most
comprehensive and secure Mobile Banking application, offers over 200 banking services on
your mobile. The features of new iMobile Pay are. Pay and collect money from anyone
instantly using Unified Payment Interface (UPI Payments).
➢ WhatsApp Banking
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Using the WhatsApp Banking service, customers can check their savings account balance,
last three transactions, credit card limit, get details of pre-approved instant loan offers and
block/unblock credit and debit card in a secure manner with end-to-end encryption for all
messages. They can also get details of the three nearest ATMs and branches of ICICI Bank in
their vicinity.
1.9 HOSUSING DEVELOPMENT FINANCE CORPORATION (HDFC) BANK

LIMITED PROFILE
❖ INTRODUCTION
HDFC Bank Limited (Housing Development

Finance Corporation) is an Indian banking and
financial services company headquartered in
Mumbai, Maharashtra. HDFC Bank is one of
India's leading private banks and was among the
first to receive approval from the Reserve Bank of
India (RBI) to set up a private sector bank in 1994.
Today, HDFC Bank has a banking network of 5,653
branches and 16,291
ATMs in 2,917 cities/towns. HDFC Bank was the leading Indian private bank based on
market capitalization of over eight trillion Indian rupees as of June 2021.
❖ HISTORY
HDFC BANK LTD was incorporated in August 1994 in the name of ‘HDFC BANK
LMITED’ with its registered office in Mumbai, India. The bank commenced operations
as a Scheduled Commercial Bank in January 1995. The Housing Development Finance
Corporation Limited or HDFC was among the first to receive approval from the Reserve
Bank of India (RBI) to set up a private sector bank in 1994. This was done as part of
RBI’s policy for liberalization of the Indian banking industry in 1994.
❖ HDFC BANK LTD PROFILE:
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PARTICULARS DESCRIPTION
Type Public
Industry Banking, Financial services.
Founded August 1994.
Area served India.
Key people Sashidhar Jagdishan (CEO), Atanu Chakraborty

(Chairman)
Products
Credit cards, Consumer banking, Commercial banking,
Finance and insurance, Investment banking, Mortgage
loans, Private banking, Private equity, Wealth
management
Tagline We Understand Your World.
Vision To be the leading provider of financial services in India

and a major global bank.
Mission
ICICI will leverage our people, technology, speed and
financial capital to be the banker of the first choice for
our customers by delivering high quality, world-class
products, and services.
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Objective
The objective of ICICI bank is to meet the needs of the
private industry for long and medium-term funds in the
private sector.
➢ ROLE OF HDFC BANK IN E-BANKING
HDFC Bank Net Banking allows you to perform a wide range of transactions from
anywhere, anytime. Once you have registered for E - Banking, you can perform more
than 200 transactions without having to visit your bank. E - Banking registration is
given by default to all HDFC Bank customers. In case you are not registered, you can
do it now free.
Some e-banking facilities provided by HDFC bank are as follows
1. Money Transfer/ NEFT /UPI (Instant Mobile Money Transfer) / IMPS (Immediate
Payment
2. Pay Bills/ Recharges
3. Credit Card Net banking
4. Watch Banking - Banking at the flick of your wrist
5. On Chat - Discover the easiest way to bank with HDFC Bank On Chat
6. WhatsApp Banking - HDFC Bank is now available 24/7 to get the latest on offers,
information and answers to your queries on our products.
7. View your Transaction status
8. Deposits
9. Manage Loan A/c / Credit cards
10. Insure online
11. Invest online
Digitization is a strategic focus area for HDFC Bank. Digital offerings cater to all
segments – mass retail, mass affluent, high net worth in retail and wholesale (MSME).
Digital 2.0 is the next phase of digitization journey. They are collaborating and
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partnering with diverse participants in the digital. Bank launched new public website
and Mobile Banking app in 2019 which have received widespread acceptance among
customers. The number of visitors to public website stands at 55 Million per month.
HDFC Bank operates in a highly automated environment powered by information

technology and communication systems. All branches have online connectivity which
enables speedy funds transfer for customers. Multi-branch access is also provided to
retail customers through the branch network and Automated Teller Machines (ATMs).
1.10 SWOT ANALYSIS OF BANKS
➢ ICICI BANK
Strengths:
• ICICI bank is the front runner in the Indian Private Banking Sector
• High use of technology to make life simpler for the customers

• In many banking and financial services, ICICI bank has first-mover advantage.
ICICI
Bank is India’s first bank to launch full mobile banking and jewellery card solutions
• Services like net banking, mobile banking, NRI services, apps etc. offered by
ICICI
• ICICI Bank is India’s first bank to connect life-style benefits to banking
services for exclusive transactions and tie-ups with industry-leading brands.
ICICI Bank has the longest operating hours and additional facilities available
at ATMs attracting customers
• ICICI’s marketing and advertisement campaigns are of decent scope compared
to other Indian banks
• Large number of facilities for the customers in terms of products and services
• ICICI Bank is maintaining good Customer Relations
• ICICI Bank Services are good
• ICICI has a strong presence via its branches & 14000+ ATMs
Weaknesses:
18
• High competition means limited market share growth for ICICI bank
• Controversies like alleged money laundering, debt recovery etc. hurt the brand
image
• The charges for the banking operation are comparatively growing
Opportunities:
• Opening more branches in the rural areas can boost ICICI's business
• In rural areas, the idea of saving in banks and investing in financial products is
growing, as more than 65 percent of India’s population is still in rural areas
• Use of technology to penetrate rural markets
• Venturing into countries like Africa where the economy is coming up
• ICICI bank can tap the youth by promoting their app and net banking
Threats:
• Banks in the government sector are pushing to modernize the capacity to

reduce customers moving to new age banks
• Ever changing RBI policies can affect operations of ICICI bank
• International and other Competitors
• Inability to adapt to changing conditions due to large size

• Cryptocurrency is also a threat to banks
• Concern on privacy of user accounts using net banking can be a threat for
ICICI
➢ HDFC BANK LTD
Strengths:
• HDFC Bank is the Largest Private Banks in India
• HDFC is one of the leading new age private sector bank
• HDFC Bank has over 4500+ branches and over 12000 ATMs, in more than 800
cities in India
• HDFC has a large collaboration with corporate for employee salary accounts
19
• Acquisitions have boosted the operations of the bank
• HDFC bank has been responsible for several CSR activities and has also been
recognized with several banking awards
• HDFC has received numerous awards and recognition, including the title of “Best
Bank” from various financial rating institutions such as Dun and Bradstreet,
Financial Express, Euromoney Awards for Excellence, and Finance Asia
Country Awards.
• It offers several services like online banking, app, mobile banking, NRI services
etc.
Weaknesses:
• HDFC Bank does not have a strong presence in rural areas
• Rural penetration is low for HDFC as compared to nationalized banks
• Competition from public sector and private sector banks means limited market
share growth
Opportunities:
• Mobile banking, internet banking etc can be a huge boon for HDFC's business
• As HDFC Bank has better asset quality parameters than government banks, profit
growth is expected to increase
• Companies, both large and small and medium-sized, are expanding at a rapid
pace. HDFC has a good reputation for keeping corporate salary accounts up to
date
• Venturing more into rural areas can be done by HDFC

• HDFC’s strong financial position has very good opportunities in foreign markets,
with greater scope for acquisitions and strategic alliances
Threats:
• Competitors increasing their business can adversely affect HDFC's business
• New banking licenses and regulations can impact operations
20
• Foreign banks that offer complex products
• The number of non-banking financial companies and new-age banks in India is

growing
• Government banks are attempting to modernize to compete with private banks
Conclusion:
The purpose of this project is to examine the relationship between the dimensions of
E- Banking service quality of two leading banks in India to determine which
dimension can potentially have the strongest influence on customer satisfaction. E-
Banking has become one of the essential banking services that can, if properly
implemented, increase customer satisfaction, and give banks a competitive advantage.
CHAPTER 2: REVIEW OF LITERATURE
2.1 MEANING:
The second chapter, literature review, goes through and investigates all kind of
publications by different authors. It explores many different textbooks, articles and
online write ups which will help in giving out a clear picture about the project topic,
which is, internet banking. It acts as a key part of most of the research projects.
2.2 PURPOSE OF A LITERATURE REVIEW:
A literature review situates your topic in relation to previous research and illuminates a
spot for your research. It accomplishes several goals such as:
• Provides background for your topic using previous research.
• Shows you are familiar with previous, relevant research.
• Evaluates the depth and breadth of the research in regard to your topic.
• Determines remaining questions or aspects of your topic in need of research
2.3 RESEARCH IN INDIA
21
1. DHANANJAY B, SURESH CB, 2015, THE ELECTRONIC BANKING
REVOLUTION IN INDIA
Electronic banking has attracted interest from policy makers, researchers and bankers.
Retail payments have assumed importance in the backdrop of rapid technological
changes, influence of market forces and regulatory developments. Efforts are being
made to make retail payments affordable and integrated. Both individual country and
banks cope up with growing challenges and opportunities in the area of regulatory
changes, increased competition, enhanced role of non-banks and technological
advances.
2. AMIT SHANKAR, CHARLES JEBARAJAKIRTHY, MD

ASHADUZZAMAN, JANUARY 2020, HOW DO ELECTRONIC WORD OF
MOUTH PRACTICES CONTRIBUTE TO MOBILE BANKING ADOPTION”
Mobile banking (m-banking) is the fastest growing and most cost-effective channel for
delivering banking services. Electronic word of mouth (eWOM) plays a crucial role in
the success of e-commerce. Therefore, the main purpose of this study is to investigate a
comprehensive moderated mediated mechanism for enhancing m-banking adoption
behavior through positive eWOM triggers using the elaboration likelihood model
(ELM). Argument Quality, valence, consistency and volume were considered eWOM
triggers, and the conceptual model also included initial trust in m-banking as a
mediator and consumer involvement in m-banking as a moderator. A total of 1153
useable surveys completed by the Indian users of social networking websites were used
for analysis. The findings showed that of the triggers, argument quality, valence, and
consistency enhance intention to adopt m- banking.
3. SUDHAKARAN A. M. SURYANARAYANA, 2011, - EMERGING MOBILE

BANKING SCENARIO AND ITS ADOPTION IN INDIA: A STUDY
With broadband communication technological developments and mobile phones
penetration (481 million by June 2009) into common man's life have triggered major
thrust in the Banking service sector of India. With Mobile Banking- a revolutionary
approach to banking transactions has created a strong connectivity between customers
and the banks as both will transact with minimum cost and in minimum time. It is a
timely and its cost-effective services can deliver mobile money to non-banked poor
people and will induce economic growth of the country.
22
4. MALHOTRA, POOJA & SINGH, DECEMBER, 2010, DETERMINANTS OF
INTERNET BANKING ADOPTION BY BANKS IN INDIA
This study is an attempt to present the present status of Internet banking in India and
the extent of internet banking services offered by Internet banks. In addition, it seeks
to examine the factors affecting the extent of Internet banking services. The purpose
of the study is to help fill significant gaps in knowledge about the Internet banking
landscape in India. The bankers as well as society at large will come to know where
the banks lag in terms of adoption of Internet banking and in providing different
products and services.
5. NAVNEET KAUR, R. KIRAN, 2015, E-BANKING SERVICE QUALITY

AND CUSTOMER LOYALTY: CHANGING DYNAMICS OF PUBLIC, PRIVATE
AND FOREIGN BANK CONSUMERS IN INDIA
The purpose of this research paper is to study how the e-banking consumers perceive
the e- banking services of public, private and foreign sector banks operating in the
Indian banking sector and also making a deeper introspection of service quality in all
three types of banks to understand whether there is a significant difference in service
quality on the basis of nature of banks.
6. MOHAMMAD ABDUL HANNAN MIA, DECEMBER 2013, E -

BANKING: EVOLUTION, STATUS AND PROSPECT
The beginning of the E-Business age has been shivering the business environment and
breaking out innovative and unconventional ways of doing business. One of the latest
outcomes of this E- Business is internet banking or E-Banking. Banking sector is now
reengineering it to adopt the change and to be in the race of globalization. Thus, it has
become imperative for the banking industry to better gauge the E-Banking
phenomenon. This study painstakingly attempts to bestow the evolution, competitive
forces, strategy, present status, and prospect of E-Banking, so that the existing banks
and potential ebanks could better understand this opportunity and could reap the best
benefit from it.
23
7. DR. MAHAMUNI PRAVIN NARAYAN, DR. MORE RAHUL, JUNE, 2019,
COMPARATIVE ANALYSIS OF HDFC BANK AND ICICI BANK
Companies as well as banking and other financial institutions all over the world are
finding e- commerce as the new platform for the business in the years to come. The
revolution in information technology has brought many changes in the business
practices and its performance. E-commerce is the latest concept which helps to
develop their competitive edge. Internet is having profound impact on the functioning
of the world.
8. ROBIN KAUSHAL, APRIL, 2012, IMPACT OF E-BANKING ON

OPERATIONAL
PERFORMANCE AND SERVICE QUALITY OF BANKING SECTOR IN
INDIA
With the development of information technology, the world has become a global
village and it has brought a revolution in the banking industry. The banks appear to be
on fast track for IT based products and services. IT is no longer considered as mere
transaction processing or confined to management information system. The wind of
liberalization, globalization, and privatization has opened new vistas in the banking
industry in the generation of an intensely competitive environment. The post-
liberalized banking industry in India has been witnessing a discernible shift from the
sellers to the buyer’s market. Further the banking sector reforms, and introduction of e-
banking has made very structural changes in service quality, managerial decisions,
operational performance, profitability and productivity of the banks. Customers can
view the accounts, get account statements, transfer funds, purchase drafts by just
making a few key punches.
9. HOOMAN POURMOHAMMAD, M. ZANDIEH, H. FARSIJANI, 2016, ―THE

EFFECT OF QUALITY OF ELECTRONIC BANKING SERVICES ON
AGILITY OF A BANK
Studies have shown that in service organizations, quality can have a growth in
customer satisfaction as its consequence, and when it regards the banking services,
factors are brought up with regard to the quality of banking services, which include the
speed in responding, providing products proportionate to the customer needs, and
24
gaining competence. These concepts are shared by the issue of organizational agility;
hence, the qualities as well as the bank's agility of the banking system embraces these
concepts in common. Therefore, the study aims at studying the effect of the quality of
electronic banking services on the bank's agility and assesses the role of two mediator
variables of the quality-of-service system and personnel behavior quality. Results
indicated that the model of the study has a high Goodness of Fit, and the quality of the
electronic banking services had a significant effect on the bank's agility. In addition,
the quality of electronic banking services affects the service system quality.
10. DR. HIMANI SHARMA, JUNE 2011
Today, e-banking is used as a strategic tool by the global banking sector to attract and
retain customers. The present paper is the outcome of an empirical study conducted
with the objective of investigating banker’s views regarding e-banking. It covers
banker’s perspectives on e-banking activities of respondents, impact of e-banking and
promotional measures used by banks to promote e-banking. The survey data used in
this research are collected through a questionnaire in Northern region of India by
administering to 192 bankers. The enquiry reveals that customers generally use
eBanking services on persuasion of bankers. User-ship is mostly concentrated on
professionals, business class and males belonging to middle age. The bankers are
convinced that e-banking helps in improving the relationship between bankers and
customers and that it will bring patent improvement in the overall performance of
banks.
So far as promotional avenues are concerned, print media is at the top.
11. REETI AGARWALA SANJAY RASTOGIB ANKIT MEHROTRA, APRIL

2009, CUSTOMER’S PERSPECTIVES REGARDING E-BANKING IN AN
EMERGING ECONOMY
Determining factors affecting customer perception and attitude towards and

satisfaction with e-banking is an essential part of a bank's strategy formulation process
in an emerging economy like India. To gain this understanding in respect of Indian
customers, the study was conducted on respondents taken from the northern part of
India. The major findings depict that customers are influenced in their usage of e-
25
banking services by the kind of account they hold, their age and profession, attach
highest degree of usefulness to balance enquiry service among e-banking services,
consider security & trust most important in affecting their satisfaction level and find
slow transaction speed the most frequently faced problem while using e-banking.
12. SANJIT KUMAR ROY, MARCH 2016, PREDICTING INTERNET BANKING

ADOPTION IN INDIA: A PERCEIVED RISK PERSPECTIVE
The emergence of Internet banking has transformed the banking systems across the
globe. As a channel to market, Internet banking allows geographical constraints to be
overcome by offering various products and services at lower customer costs. An
understanding of the factors influencing customer adoption of Internet banking is both
relevant and timely. This study integrates technology acceptance model and perceived
risk theory in understanding Internet banking acceptance among Indian bank account
holders. Specifically, this study categorizes perceived risk as external risk and internal
risk and examines its influence on customer beliefs and adoption of Internet banking.
More importantly, neural network analysis reveals that perceived ease of use and
external risk are two important factors determining how well Internet banking is
accepted by customers. The implications of the study findings and future research
directions are presented.
13. AGARWAL R., RASTOGI S., MEHROTRA A., 2009, CUSTOMERS
PERSPECTIVES REGARDING E-BANKING IN AN EMERGING ECONOMY
Determining factors affecting customer perception and attitude towards and

satisfaction with e-banking is an essential part of a bank's strategy formulation
process in an emerging economy like India. To gain this understanding in respect of
Indian customers, the study was conducted on respondents taken from the northern
part of India. The major findings depict that customers are influenced in their usage of
ebanking services by the kind of account they hold, their age and profession, attach
highest degree of usefulness to balance enquiry service among e-banking services,
consider security & trust most i5mportant in affecting their satisfaction level and find
slow transaction speed the most frequently faced problem while using e-banking.
14. KAMIYA, AUGUST 2006, ―HOW E-BANKING CAN EASE YOUR LIFE
26
These articles show that Indian banks are trying to make your life easier. Not just bill
payment, you make investments, shop or buy tickets and plan a holiday at your
fingertips. In fact, sources from ICICI Bank tell us, "Our Internet banking base has
been growing at an exponential pace over the last few years. Currently around 78 per
cent of the bank's customer base is registered for Internet banking." To get started, all
you need is a computer with a modem or other dial-up device, checking account with
a bank that offers online service and the patience to complete about a one-page
application-which can usually be done online. You can avail the following services:
Bill payment Services, Fund Transfer, Credit Card, Internet shopping, and Investment
though Internet etc. Due to the Internet banking the life of an individual becomes easy
and raises the standard of life of the humans.
15. DR. YASHASVI R. RAJPARA, DR. KOMALD. MISTRY, MARCH, 2020,
CORPORATE GOVERNANCE PRACTICES IN PRIVATE SECTOR BANKS:

A COMPARATIVE STUDY OF ICICI BANK & HDFC BANK
The last decade has seen many positive developments in the Indian Banking sector.
The policy makers, which comprise the Reserve Bank of India, Ministry of Finance
and related government and financial sector regulatory entities have made several
notable efforts to improve regulation in the sector. However, apart from this, the sector
could not keep itself free from the global trends and its effects. Due to globalization
effects have been observed in form of financial crisis and their consecutive effects on
all the economies. In globalization no country untouched from the consequences of the
crisis. The sources of the crisis may be limited to some developed economies, but
developing economies are not also free from having potential risks in this regard,
though in slightly different form and of a varied degree.
16. RAJEEV PRABHAKAR AND PURUSHOTTAM TRIPATHI, DECEMBER,

2009, EFFECTIVENESS OF ONLINE BANKING WITH SPECIAL REFERENCE
TO THE ICICI BANK
Companies as well as banking and other financial institutions all over the world are
finding e- commerce as the new platform for the business in the years to come. The
revolution in information technology has brought many changes in the business
practices and its performance. E-commerce is the latest concept which helps to
27
develop their competitive edge. Internet is having profound impact on the functioning
of the world. The application of e-commerce in the development of economy has
resulted in paradigm shift in the business practices worldwide. This paper is an effort
to find out how online banking is performing viz- a-viz traditional banking and which
strategies may be adopted to have effective online banking.
17. DR.S. ANTHONY RAHUL GOLDEN, S. BULOMINE REGI, JANUARY,
2019, ―CUSTOMER’S SATISFACTION TOWARDS ONLINE BANKING — AN

ANALYSIS
The purpose of this paper is to find out whether the online banking customers have
satisfied towards online banking services and its process. A comprehensive review of
academic and professional literature indicates that online baking provides useful
services and quick services to their customers timely. The online customers are
satisfied towards online banking transactions are faster, convenient, simple to carry
out, easy Process and Procedure, more reliable, safer and more secure, time taken for
transactions in online banking, charges are low. Overall, the online banking is
providing better service than other modes of banking.
18. NITSURE. R.R., DECEMBER, 2004, E-BANKING: CHALLENGES

AND OPPORTUNITIES
This article indicates the E-banking Challenges and opportunities lies in the banking
industry. E-banking has the potential to transform the banking business as it
significantly lowers transaction and delivery costs. This pa per discusses some of the
problems developing countries, which have a low penetration of information and
telecommunication technology, face in realizing the advantages of e- banking
initiatives. Major concerns such as the 'digital divide' between the rich and poor, the
different operational environments for public and private sector banks, problems of
security and authentication, management and regulation, and inadequate financing of
small and medium scale enterprises (SMEs) are highlighted.
2.4 RESEARCH IN ABROAD
28
1. V. RAJA, JOE A., MARCH, 2012, GLOBAL E-BANKING SCENARIO
AND CHALLENGES IN BANKING SYSTEM
This paper is an attempt to explore the various levels of internet banking services
provided by banks using the secondary data. It also compares the traditional banking
systems with net banking. It lists out the various advantages of internet banking and
the successful security measures adopted by different banks for secured banking
transactions. It also analyses how E-banking can be useful for banking industry
during this global financial meltdown.
2. B. DIZON, JANUARY 2009, ―SPECIAL FEATURE: ELECTRONIC

BANKING
In this study they have founded that while big banks still conduct the bulk of their
business in brick-and-mortar bank branches, the finance sector has been increasingly
investing on e- banking facilities to offer 24-hour, queue- free services to their regular
clients, whether through ATM machines, mobile phones or the Internet. "E- Banking's
appeal is primarily its convenience. Clients nowadays want instant results; they don't
want to wait anymore," said Francisco M. Caparros, Jr., senior vice-president of Asia
United Bank and president of Banc Net. It's also turned out to be a more efficient way
to process transactions, as e-banking does away with most of the paperwork that
clients have to accomplish. "A lot of people don't like filling forms," Mr. Caparros
added. "Online banking, in particular, relies on usernames and passwords which need
to be protected," said Ferdinand G. La Chica, first vice president and marketing group
head for Sterling Bank of Asia.
3. WAI‐CHING POON, JANUARY 2008, ―USERS' ADOPTION OF

EBANKING SERVICES: THE MALAYSIAN PERSPECTIVE
Results indicate that all elements for ten identified factors are significant with respect
to the users' adoption of e‐banking services. Privacy and security are the major
sources of dissatisfaction, which have momentously impacted users' satisfaction.
Meanwhile, accessibility, convenience, design, and content are sources of satisfaction.
Besides, the speed, product features availability, and reasonable service fees and
charges, as well as the bank's operations management factor are critical to the success
of the e‐banks. WAP, GPRS and 3G features from mobile devices are of no
29
significance or influence in the adoption of e‐banking services in this study. Results
also reveal that privacy, security and convenience factors play an important role in
determining the users' acceptance of e‐banking services with respect to different
segmentation of age group, education level and income level.
4. JOHN SIMPSON, NOVEMBER 2002, ―THE IMPACT OF THE

INTERNET IN BANKING: OBSERVATIONS AND EVIDENCE FROM
DEVELOPED AND EMERGING MARKETS
This paper investigates the risk, efficiency, and rate of progress in the implementation
of electronic commerce (e-commerce) in a sample of banks from a developed country
(the US), and a sample of banks from developing and emerging markets. The results
confirm that the US is very advanced in its electronic-banking (e-banking) actuation.
There is evidence suggesting that e-banking is driven largely by the prospects of
operating costs minimization and operating revenue maximization. Costs are lower
and revenues higher when banking services are delivered through a branch network.
The results also suggest that perceptions of banking risk may be partially driven by
similar factors.
5. J. SANCHEZ-FRANCO, AUGUST 2009, ―THE MODERATING

EFFECTS OF INVOLVEMENT ON THE RELATIONSHIPS BETWEEN
SATISFACTION, TRUST AND COMMITMENT IN E-BANKING
Most prior research into customer loyalty emphasizes the effects of the dimensions of
online satisfaction and trust. However, research into how customer involvement
moderates this relationship model – in the online environment – has been less than
conclusive. On the basis of a satisfaction–trust–commitment model and given that
involvement is a significant precondition to customer loyalty, this paper explores the
interaction effects of customer involvement on the evaluation of e-banking services.
Empirical results were collected from an online survey in electronic financial forums,
Usenet and mailing lists. Partial Least Squares (PLS) was used to estimate the
parameters of the interaction effects model.
6. HATICE JENKINS, SEPTEMBER 2007, ADOPTING INTERNET
30
BANKING SERVICES IN A SMALL ISLAND STATE: ASSURANCE OF BANK
SERVICE QUALITY
Evidence from survey studies and from banks' web sites indicated that banks in
North Cyprus have been consistently moving towards providing internet banking
services despite a very small potential market to share. In 2004, the majority of
commercial banks claimed that the potential market was too small to adopt internet
banking services in North Cyprus. Yet, in 2006 the same banks were in the process of
introducing internet banking as an assurance to their customers that they would be
able to maintain a competitive quality of service in the future, hence avoid losing
their customers to the branches of foreign banks.
7. MANON ARCAND, SANDRINE PROM TEP, ISABELLE BRUN, LOVA

RAJAOBELINA,OCT OBER, 2017, MOBILE BANKING SERVICE
QUALITY AND CUSTOMER RELATIONSHIPS
Findings confirm that trust significantly and positively impacts
commitment/satisfaction. Mobile banking service quality dimensions also influence
trust and commitment/satisfaction. Trust is associated with security/privacy (regarded
as utilitarian factors), while commitment/satisfaction is driven by enjoyment and
sociality (dimensions more hedonic by nature). No link is found between interface
design and either trust or commitment/satisfaction.
8. ASFAW, FIKERSELASSIE, JUNE, 2017, THE EFFECT OF E-BANKING

SERVICE QUALITY ON CUSTOMER SATISFACTION
The research is undertaking on the effect of electronics banking service quality on the
customers satisfaction in the banking sector of Ethiopia. Since customer satisfaction
is a high priority as one of the goals of banks, this study aims to investigate the effect
of e-banking service quality on customer satisfaction. The major findings of this
study were service quality and privacy of e-banking has been significant factor on
customer satisfaction. The researcher concludes that there was a linear relationship
between ebanking service quality and customer satisfaction. There is the need to
create awareness and educate majority of the banking population or users on e-
banking especially in mobile and internet banking as a recommendation.
9. FAYAZ AHMAD LONE, EBRAHEEM ALDAWOOD, ULFAT BHAT,
31
FEBRUARY 2017, COMPARATIVE ANALYSIS OF CUSTOMER
SATISFACTION
TOWARDS ISLAMIC AND CONVENTIONAL BANKING: AN EMPIRICAL
STUDY FROM SAUDI ARABIA
Islamic banking is gradually emerging everywhere in the world. Half a century ago,
Islamic banking was just a concept contained in books only, but today it is a success
story not only in Muslim countries of Middle East but even in the UK and the USA.
As customer satisfaction is the compulsory element of every kind of business so
Islamic banking also has to pay more attention towards customer satisfaction. Modern
banking system of Saudi Arabia is unique due to political and technological
environment of this country. Both conventional and Islamic banks are working
together in this country to maximize the customer satisfaction and profit margin.
10. HILKKA MERISALO-RANTANEN, MARKKU TINNILA, THERESA

LAURAEUS, OCTOBER, 2011, TOWARDS E-BANKING: THE
EVOLUTION OF BUSINESS MODELS IN FINANCIAL SERVICES
We explore the evolution of business models over time in five Finnish organizations
from the banking, insurance or retail sector. The scope of the banking services to
consumers has been extended in traditional banks from basic banking services to asset
management, insurance and expert services. Deregulation and new technologies have
enabled internationalization and free competition. New organizations and niche
players from other industries have entered the industry.
11. FEI PENG; YI RUO LIU, JANUARY 2010, ―UNDERSTANDING THE

ADOPTION OF ELECTRONIC BANKING IN CHINA
Electronic banking (e-banking), facilitated by various Electronic Commerce (EC)
technologies, has helped commercial banks to stay competitive through productivity
gains, transaction cost reduction and customer service improvement. Despite its
benefits, however, developing countries still lag behind developed countries in the
adoption of e-banking. To address the lack of studies on e-banking adoption in
developing countries, this paper explores factors impacting e-banking adoption in
China, as an example of a developing country. Facing an intense competition from
foreign-owned banks, Chinese domestic banks have recently been actively engaged
in e-banking initiatives.
32
12. WINIFRED D. SCOTT, WILLIAM NGANJE, 2010, A
CONCEPTUAL
FRAMEWORK FOR E-BANKING SERVICE QUALITY IN VIETNAM
Service quality is one of the key factors in determining the success or failure of
ebanking. To gain and sustain competitive advantages in the rival-driven e-banking
market, it is thus crucial for e-banks to understand in-depth what customers perceive
to be the key dimensions of service quality and what impacts the identified
dimensions have on the customer’s perceived overall service quality, satisfaction, and
loyalty. This paper attempts, based extensive review of relevant literature, to provide
a number of hypotheses that integrate three important constructs in the context of e-
banking in Vietnam - emerging as a new potential market, such as e-service quality,
e-satisfaction, and e-loyalty.
CONCLUSION –
The purpose of a literature review is to survey state of knowledge in the banking

industry of Internet, importance of E – Banking and how E - Banking has been
significant factor on customer satisfaction.
CHAPTER 3: RESEARCH METHODOLOGY
33
Research methodology is a strategy that guides a research in providing answers to
research questions and for this, research survey is being done. “Accuracy of the study
depends on the systematic application of the method”. The researcher has to decide
the method to be used that helps him to get a desired direction in a systematic way.
Research has been conducted in order to evaluate and examine customer’s

satisfactions towards E - Banking of ICICI and HDFC. The purpose of this study is
also to observe and analyse the purpose of using E - Banking, reason for chosen E -
Banking, satisfaction of customers & find out the problems encountered by the
customers.
3.1 Data Collection
Keeping in view the nature of requirements of the study to collect all the relevant
information regarding the extent of awareness of the customers using E - Banking
facilities offered by ICICI Bank and HDFC bank, method with structured
questionnaire was adopted for the collection of primary data. Secondary data has been
collected through the various internet sites by surfing on Internet and from the records
available with the bank.
Sources of data collection –
Primary data - Primary data are those which are collected fresh and for the first time,
and thus happened to be in its original character. The data is gathered through
administering the questionnaire. This survey was distributed amongst 100
participants residing in Mumbai. The participants were asked about their regarding
Comparative study of ICICI Bank and HDFC Bank.
Secondary data –
Secondary data also plays a key role in providing more information which will
influence the analysis. Few of the main sources of secondary data include
- Articles on E-Banking taken from journals, magazines published from time to

time
- Through internet
34
- Websites of ICICI Bank & HDFC Bank
- Annual Reports of the Banks.
Sample size : 100
Sampling method : Simple Random sampling
Research tool : Structured Questionnaire- Google Forms
Contact method : Email and personal contacts

Questionnaire Design:
The questions were designed in an easily understandable way, so that the respondents
may not have any difficulty in answering them. The questionnaire contained 20
questions. This has to be done to get opinion of the people regarding the comparative
study of E- Banking. Random Sampling:
Sampling can be defined as a part of population. Thus, random sampling may be

defined as the selection of a portion from the whole population in which each elements
of the population has an equal chance of being selected. In this research survey 100
people were surveyed at random to get the relevant information.
Sampling Unit:
The respondents who were asked to fill out questionnaires are the sampling units. These
comprise of students, parents, adults, etc. Sample size: The sample size was restricted
to only 100, which comprised of mainly peoples from different area.
Sampling Area:
The area of the research was Mumbai, India.
Sampling size:
The questionnaire was mainly distributed through email and through personal contacts
to fill this survey form, so 100 Respondents are studied for analysis and research.
3.2 Objectives of the study:
Ever study needs some clarified aspects. In same manner the important objective
of the study is to get to recognize the satisfaction of customers towards internet
35
banking and to find out the problems encountered by the customers as well as to
know perspective of customers towards two leading banks in India i.e., ICICI
Bank
& HDFC Bank. This study is totally based on following objectives –
• To know what is the role of Internet in banking sector.
• To know what are the challenges of online banking
• To know about the activities being provided by online banking system
• To study the awareness of internet banking among the customer of ICICI &
HDFC Bank.
• To access the degree of satisfaction of ICICI & HDFC customers relating to E-
banking services
• To compare the two leading private sector banks in India
• To analyze the performance of ICICI and HDFC bank on the basis of E –

Banking Services.
• To identify the various dimensions of internet banking service quality.
3.3 Scope of the study
India has around 470 million banking customers. Among this demographic, 60
million of them, amounting to 13% of the total users, use online banking. In
India, where a bank visit implies waiting in never-ending queues, online banking
is a blessing. Online banking has made it possible for customers to do simple
tasks like accessing their savings account anytime, keep track of their account
balance, get e-statements, pay bills online, shop online, transfer funds and much
more in under a few clicks and within a matter of minutes. The study will be able
to reveal the preferences, need, perception, of the customer regarding the E -
Banking services. It also helps the Banks to know whether the E - Banking
services can really satisfy the customer needs.
3.4 Need of the study
• To determining growth direction of online banking service
36
• Promoting E-banking services in banking industry.
• Customer perception will be taken into consideration about the internet

banking
• E – banking services availed by ICICI bank & HDFC Bank
• Advantages & disadvantages of E – Banking
• Role of E – Banking in Indian Banking sector
3.5 Limitations of the study
Every research is conducted under some constraints and this research is not an
exception. Limitations of this study are as follows –
• As a research is based on a sample, therefore, the findings may not reveal the
factual information about the research problem, though an utmost care will be
taken to select a truly representative sample.
• There may be some bias in the responses of the respondents which cannot be
ruled out fully.
• The study is limited to areas of Mumbai only.
• The sample size of only 100 was taken from the large population for the
purpose of study, so there can be difference between results of sample from
total population.
• Merely asking questions and recording answers may not always elicit the
actual information sought.
• Due to continuous change in environment, what is relevant today may be
irrelevant tomorrow.
CHAPTER 4: DATA ANALYSIS AND INTERPRETATION
37
Interpretation refers to the task of drawing inference from the collected facts after
an analytical study, in fact it is a search for broader meaning of research findings.
It is through interpretation that the researcher can well understand the abstract
principle that respondents beneath his findings. The simple statistical tools will
used to analyze the data collection. Bar Graphs and pie chart have been used to
illustrate the findings diagrammatically. I created a questionnaire for my market
research in order to collect information about what people think about E –
Banking. To do this I asked a variety of questions in which I think would be
useful to find out the views of people about Comparative study of E – Banking of
ICICI Bank and HDFC Bank from different age group. The scores given by
people were considered on various factors and were interpreted in graphs and pie
charts.
38
1. Age
PARTICULARS RESPONDENTS PERCENTAGE

18 – 25 years 51 51%
26 – 35 years 20 20%
36 – 49 years 12 7%
50 and above 17 13%
17%
12%
51%
20%
18 – 25 years 26 – 35 years 36 – 49 years 50 and above
Interpretation:
The above given pie chart gives us information regarding the age group that have
filled the questionnaire. Thus, from the above pie chart we can analyze that
majority of questionnaire was filled by the age group between 18 – 25 years
which comprises of 51% of the total population. The 20% of respondents belong
to the age group between 26 – 35 years. The 12% of the respondents belong to
the age group between 36 – 49 years. And the remaining 17% respondents belong
to 51 and above.
39
2. Occupation

Students 54 54%
Private 28 28%
Government 4 4%
Business 9 9%
Housewife 5 5%
5%
9%
4%
54%
28%
Students Private Government Business Housewife
Interpretation:
The above given pie chart gives us information regarding the occupation that have
filled the questionnaire. Thus, from the above pie chart we can analyze that
majority of questionnaire is filled by the students which comprises of 54% and
28% of respondents comprises of the Private. Remaining 4% belongs to
government, 9% belongs to business, and 5% belongs to housewife.
40
3. Do you have any idea about E – Banking Services?

Yes 100 100%
No 0 0%
100%
Yes No
Interpretation:
The above pie chart shows that does the respondents have any idea about E - Banking.
The above analyses shows that the majority respondents i.e., 100% are aware about E
– Banking
41
4. Do you think E - Banking would make your life easier?

Yes 100 100%
No 0 0%
100%
Yes No
Interpretation:
The above analyses shows that the majority respondents i.e., 100% thinks that E
– Banking has made life easier.
42
5. Do you think E – Banking has revolutionized the lives of all individuals?

Yes 100 100%
No 0 0%
100%
Yes No
Interpretation:
The above pie chart shows that E - Banking has revolutionized the lives of all
individuals.
The above analyses shows that the majority respondents i.e., 100% thinks that E
– Banking has revolutionized the lives of all individuals.
43
6. From which bank you are availing E – Banking services?

ICICI Bank 30 30%
HDFC Bank 60 60%
Other 10 10%
10%
30%
60%
ICICI Bank HDFC Bank Other
Interpretation:
The above pie chart shows the which bank the respondents are availing E – Banking
services.
The above analyses shows that the majority respondents i.e., 60% uses HDFC Bank,
30% uses ICICI Bank, and remaining 10% uses other banks.
44
7. To what extent you are satisfied with your E – Banking services?

Strongly agree 65 65%
Agree 17 17%
Neutral 5 5%
Disagree 2 2%
Strongly disagree 1 1%
70
60 65
50
40
30
20
17
10
5 2 1
0
Strongly agree Agree Neutral Disagree Strongly
disagree
Interpretation:
The above graph shows that to what extent you are satisfied with your E – Banking
services. 65% of respondents strongly agree with the E - banking, 17% are agree, 5%
are neutral and 2% are disagree and 1% are strongly disagree.
45
8. Which of the offers do you get by your bank while using E-banking services?

Cash back 51 51%
Discount 36 36%
Gift voucher 10 10%
Other 2 2%
70 65
60
50
40
30
20 18
15
10
2
0
Cash Back Discount Gift Vocuher Other
Interpretation:
The above given pie chart shows the offers do you get by your bank while using
Ebanking services. Thus from the above pie chart we can analyze that 65% of
respondents got cash back offers, 18% for discount, 15% for gift voucher, and 2% for
other.
46
9. Do you think E – Banking is safe & Secure?

Yes 85 85%
No 15 15%
15%
85%
Yes No
Interpretation:
The above given pie chart shows that E – Banking is safe or not. Thus, from the above
pie chart we can analyse that the majority respondents i.e., 85% thinks that the E –
Banking is safe and secure, and 15% of respondents thinks that E – Banking is unsafe.
47
10. What do you prefer while selecting E – Banking services?

Good services 65 65%
Charges 25 25%
People reference 10 10%
Other 0 0%
10% 0%
25%
65%
Good services Charges People reference Other
Interpretation:
The above given pie chart shows that preferences while selecting E – Banking
services. Thus, from the above pie chart we can analyze that the majority respondents
i.e., 65% thinks good services, 25% respondents think charges, 20% respondents think
people reference.
48
11. Which E – Banking services you use frequently?

Fund Transfer 30 30%
Bill payments 25 25%
Online purchase & 20 20%
payments
Regular checking of Bank 15 15%

balance
Schedule auto payments 10 10%
10%
30%
15%
20%
25%
Fund Transfer Bill payments

Online purchase & payments Regular checking of Bank balance
Schedule auto payments
Interpretation:
The above given pie chart shows that E – Banking services you use frequently. Thus
from the above pie chart we can analyze that the 30% respondents uses for fund
transfer, 25% respondents uses for bill payments, 20% respondents uses for online
purchase and payment, 15% respondents uses for regular checking of bank balance
and remaining 10% respondents uses for schedule auto payments.
49
12. Which benefits you get while using E – Banking services?

Time saving 35 35%
Less expensive 20 20%
Easy fund Transfer 25 25%
No need to visit bank for 10 10%
transactions
Easy access 10 10%
10%
10%
35%
25%
20%
Time saving Less expensive

Easy fund Transfer No need to visit bank for transactions
Easy access
Interpretation:
The above given pie chart gives us information regarding the benefits you get while
using E – Banking services. Above pie chart shows 35% of respondents thinks time
saving, 25% of respondents thinks easy fund transfer, 20% of respondents thinks less
expensive, 10% of respondents thinks no need to visit bank for transactions, and the
remaining 10% thinks east access.
50
13. How frequently you use E – Banking services?

Once in a day 55 55%
Once in a week 35 35%
Once in a month 10 10%
10%
35% 55%
Once in a day Once in a week Once in a month
Interpretation:
The above given pie chart gives us information regarding the frequency of using E –
Banking services. Above pie chart shows 55% of respondents uses once is a day, 35%
of the respondents uses once in a week, and 10% of respondents uses once in a month
51
14. What are the problems you facing while using E-banking services?

Technology and Service 45 45%
Interruptions
Security and Identity 25 25%
Theft Concerns
Limitations on Deposits 30 30%
30%
45%
25%
Technology and Service Interruptions Security and Identity Theft Concerns

Limitations on Deposits
Interpretation:
The above given pie chart gives us information regarding the problems you are facing
while using E-banking services. Thus, from the above pie chart we can analyse that
majority of respondents that is 45% technology and service interruptions, 30%
respondents’ limitations on deposits, and 4% of respondents security and identify theft
concerns.
15. According to you, which bank provides the best services on internet?
52
ICICI Bank 30 30%
HDFC Bank 60 60%
Other 10 10%
10%
30%
60%
ICICI Bank HDFC Bank Other
Interpretation:
The above given pie chart shows that which bank provides the best services on
internet. Thus, from the above pie chart we can analyze that majority of respondents
that is 75% think HDFC Bank, 30% respondents think ICICI Bank, and remaining
10% of respondents thinks other banks.
16. Traditional Banking is more convenient than E- Banking?
53
Strongly agree 0 0%
Agree 2 2%
Neutral 8 8%
Disagree 65 65%
Strongly disagree 25 25%
2%
8%
25%
65%
Strongly agree Agree Neutral Disagree Strongly disagree
Interpretation:
The above graph shows that the Traditional Banking is more convenient than E-
Banking. 65% of respondents disagree with the traditional banking, 25% are strongly
disagree, 8% are neutral and 2% agree thinks that the traditional banking is more
convenient than E – Banking.
17. How do you feel the availability of various banking services under one platform?
54
Excellent 67 67%
Satisfactory 23 23%
Good 10 10%
Poor 0 0%
10%
23%
67%
Excellent Satisfactory Good Poor
Interpretation:
This graph shows the availability of various banking services under one roof. The
67% of respondents believes that it is excellent that various banking services under
one roof, 10% feels good, 23% are satisfied, and remaining states that it is poor.
18. In which areas E-Banking improvement is needed?
55
Ask for two-factor 55 55%
authentication
Set up reminders to 22 22%

change your password
Security of transactions 23 23%
23%
55%
22%
Ask for two-factor authentication

Set up reminders to change your passwor d
Security of transactions
Interpretation:
The above pie chart shows area of improvements in E - Banking. 55% of respondents
thinks ask for two-factor authentication, 23% suggests about set up reminders to
change your password, and 22% recommends security of transaction.
56
19. Will you suggest E- Banking to your friends/relatives?

Yes 98 98%
No 0 0%
May be 2 2%
2%
98%
Yes No May be
Interpretation:
The above pie chart shows 98% of respondents agree to suggest E - Banking to
friends/ relatives, and only 2% suggest may be.
57
20. How do you rate the overall experience with E - Banking?

Excellent 84 84%
Satisfactory 9 9%
Good 7 7%
Poor 0 0%
7% 0%
9%
84%
Excellent Satisfactory Good Poor
Interpretation:
This graph shows the overall experience with E - Banking. The 84% of respondents
thinks that the overall experience of E – Banking is excellent, 9% of respondents are
satisfied, 7% feels good and 0% states that it is poor.
CHAPTER 5: FINDINGS, SUGGESTIONS AND RECOMMENDATIONS,
CONCLUSION
58
5.1 Findings
• From the analysis shown we found out that the questionnaire was occupied by the age
group ranging between 18 -25 years. Thus, the majority of respondents belong to the
young generation
• The occupation of the majority of the respondents are students i.e., learning group
• 100% of the respondents are aware about E -Banking services
• 100% of the respondents thinks that E – Banking has made their life easier
• From the data analysis it is found that the 60 % of the respondent’s avails HDFC
Banks
E – Banking services, 30 % of the respondent’s avail ICICI Bank and remaining avails
the other banking services
• The majority of respondents are satisfied with the E – Banking services
• The analysis shows that the offers attract the most while using E – Banking services
are
51% cash back, 36% discount, 10% gift voucher and remaining 2% other
• It has been observed that the 85% of respondents believes that E – Banking is safe
secure
• From the data analysis it is found that the preferences while selecting the E – Banking
services, 65% Good services, 25% charges, 10% people reference
• From the data analysis it is found that frequency of using E – Banking services, 30%
use to fund transfer, 25% use to bill payments, 20% use to online payment and
purchase, 15% use to regular checking of bank balance, 10% use to schedule auto
payments
• The analysis shows the benefits that attract the most respondents while using E –
Banking services are 35% thinks time saving, 20% thinks less expensive, 25% thinks
easy fund transfer, 10% thinks no need to visit bank for transaction and remaining
10% thinks easy access
• Most of the respondents uses E – Banking services once in a day and remaining
respondents uses once in a week and once in a month
• The analysis shows the 45% of the respondents face technology and service
interruptions, 25% faces security and identity theft concerns and remaining faces
limitations on deposits
59
• From the data analysis it is found that 60% of respondents thinks that the HDFC Bank
provides the best services on internet, 30% thinks ICICI Bank and remaining 10%
thinks the other banks
• It has been observed that the 65% of respondents believes that E – Banking is more
convenient than traditional banking
• Most of the respondents are highly satisfied with the availability of various banking
services under one platform
• From the data analysis it is found that 55% of the respondents thinks ask for two-
factor authentication is needed for improving E – Banking, 22% thinks set up
reminders to change your password and remaining 23% thinks security of transactions
• 98% of the respondents are willing to suggest E - Banking to their friends and
relatives
• While rating the overall experience with E - banking, most of the respondents are
highly satisfied
5.2 SUGGESTIONS AND RECOMMENDATIONS:
➢ Suggestions to Banks
• Internet banking facility must be made available in all branches of Banks.
• Banks should obey the RBI norms and provide facilities as per the norms,
which are not being followed by the banks. While the customer must be given
the prompt services and the bank officer should not have any fear on mind to
provide the facilities as per RBI norms to the units going sick.
• Personalized banking should be given a thrust as more and more banks are
achieving in usual services
• Covering up the towns in rural areas with ATMs so that the people in those
areas can also avail better services.
• Prompt dealing with permanent customers and speedy transactions without
harassing the customers.
• Give proper training to customers for using E – Banking
• Provide a platform from where the customers can access different accounts at
single time without extra charge.
• Create a trust in mind of customers towards security of their accounts.
60
• Banks should make their sites more user friendly, customers should be
motivated to use internet banking facilities more.
• Banks are now using two factor authentications i.e., password and OTP but
they should improve that and using three factor authentications because
hackers sometimes break the two factor authentication system.
Why is this important? There is a huge realization that if banks don’t get their
digital banking strategy and execution right, their customers might leave them for
another bank that does get it right. Banks have realized that digital is a
fundamental new challenge for them.
➢ Suggestions to users
• Use Anti-virus and maintain the integrity of your computer /mobile phones by
scanning regularly for computer viruses
• Do not respond to e – mails requesting account information, account verification
or banking access credentials such as usernames, passwords, PIN codes and
similar information
• If using the same computer or mobile for online banking, email and web
browsing, always LOG OFF banking sessions before checking e-mail or web
browsing.
• Clear a browser cache before starting an online banking session to eliminate

copies of web pages that have been stored on the hard disk.
• Create a strong password but that will be easy to remember without writing it
down anywhere.
• Clear a browser cache before starting an online banking session that have been
stored on the hard disk.
61
CONCLUSION –
Technology has become the fuel for rapid change. Further, new technology has rapidly
altered the traditional ways of doing banking business. The banking sector in India has
introduced E- banking in a phased manner. Foreign banks are the pioneers in e-
banking, private banks introduced it in a big way and public sector banks are in the
process of transformation from traditional banking to E - banking. Bank customers are
becoming very demanding, and it is the extensive use of technology that enables
banks to satisfy adequately the requirement of customers.
The concept of Internet banking has been simultaneously evolving with the
development of the World Wide Web. Programmers working on banking data bases
came up with ideas for online banking transactions, sometime during the 1980s. E-
banking is one of the emerging trends in the Indian banking and is playing a unique
role in strengthening the banking sector and improving service quality. It has enabled
the banks to handle the payments electronically and inter-bank settlement faster and in
large volumes.
E-banking is a product designed for the purposes of online banking that enables you to
have easy and safe access to your bank account. E-banking is a safe, fast, easy, and
efficient electronic service that enables you access to bank account and to carry out
online banking services, 24 hours a day, and 7 days a week.
There is increase in customer satisfaction level, reduction in cost of banking
operations, increased productivity and as such there is a tremendous scope for Indian
banks to enlarge their E-banking services which could enhance their competitiveness.
Availability of ATMs and plastic cards, EFT, electronic clearing services, internet
banking, mobile banking and phone banking; to a large extent avoid customers going
to branch premises and has provided a wider range of services to the customers.
If your banking needs don’t involve the assistance of any staff member or a manager,
online banking is the best option for you.
62
Banks are providing free internet banking services also so that the customers can be
attracted. Online banking is nice and convenient. But it does come with certain risks. Just
as you hear of people being robbed at ATMs, or having their cards cloned, so online
accounts are also a point of vulnerability. In our country, there is need for providing better
and customized services to the customers.
The purpose of this Project is to examine the relationship between the dimensions of
E- Banking service quality and customer satisfaction of two leading banks in India to
determine which dimension can potentially have the strongest influence on customer
satisfaction. E- Banking has become one of the essential banking services that can, if
properly implemented, increase customer satisfaction, and give banks a competitive
advantage.
HDFC Bank Net Banking allows you to perform a wide range of transactions from
anywhere, anytime. Once you have registered for Net Banking, you can perform more
than 200 transactions without having to visit your bank. Net Banking registration is
given by default to all HDFC Bank customers.
The E-banking was firstly introduced in India by the ICICI around 1996. ICICI net
banking / internet banking offers various facilities and has been registering increasing
number of customers as well. The facility of net banking is immense and hence it
offers one of the largest customer bases.
HDFC Bank and ICICI Bank have taken a lead in introducing e-banking in India. E -
Banking is the most used feature by the citizens of India after the effect of
demonetization.
In India, Reserve Bank of India outlined the mission to ensure that payment and
settlement systems are safe, efficient, interoperable, authorized, and accessible.
We easily from our interpretation find out that there is not at all as such comparison
between both the banks. As there are some of the services which are equally good as
the services of other bank. As the services of net banking is good in HDFC as compare
to ICICI.
63
Now ICICI and HDFC banks install automated balance update machine to avoid customer
harassment. To prevent online banking from remaining customer to prompt these services
through advertising company.
If we compare E - Banking facility of both the banks, then ICICI provides totally
satisfaction to their customers. So in findings we can’t say that overall which bank
provides the satisfactory facility to their customers only there is some services which
is better of HDFC and some are better of ICICI bank. Like out of 54 respondents 27
respondents prefer the E - Banking services of HDFC and 19 respondents prefer the
services of ICICI bank.
It has been found that customer satisfaction level towards e-banking services in HDFC
bank is more than ICICI bank.
Hence it is concluded that the total performance and efficiency of HDFC bank is better
than that of ICICI bank.
The pandemic has encouraged banking customers to turn towards internet and mobile
banking platforms to conduct daily transactions instead of relying on cash. Banks are
making sincere efforts to popularize the e-banking services and products. Younger
generation is beginning to see the convenience and benefits of e-banking. In years to
come, e- banking will not only be acceptable mode of banking but will be preferred
mode of banking.
64
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• https://dailytools.in/BankingKnowledge/EBanking
• http://cashlessindia.gov.in/internet_banking.html
• https://www.yourarticlelibrary.com
• https://www.hdfcbank.com/
• https://www.mbaskool.com/
• https://dailytools.in
• https://www.investopedia.com/
68
• https://timesofindia.indiatimes.com/
• www.shodhganga.inflibnet.ac.in
• https://www.researchgate.net/
• www.thefinancialbrand.com
• www.smallbusiness.chron.com
• www.journals.sagepub.com
• www.books.google.co.in
• www.indianjournals.com
• www.business-standard.com
• www.medianama.com
• www.ijert.org/electronic-banking-in-india-innovations-challenges-and-opportunities
• Annual Report of ICICI Bank for the financial Year 2020 - 2021
• Annual Report of HDFC Bank for the financial Year 2020 – 2021
69
ANNEXURE
1) Age
a) 18 – 25 years
b) 26 – 35 years
c) 36 – 49 years
d) 51 – above
2) Occupation
a) Student
b) Private
c) Government
d) Business
e) Housewife
3) Do you have any idea about E – Banking Services?

a) Yes
b) No
4) Do you think E - Banking would make your life easier? a)

Yes
b) No
5) Do you think E – Banking has revolutionized the lives of

all individuals?
a) Yes
b) No
6. From which bank you are availing E – Banking

services?
a) ICICI BANK
b) HDFC BANK
70
c) Other
7) To what extent you are satisfied with your E – Banking services?

a) Strongly agree
b) Agree
c) Neutral
d) Disagree
e) Strongly disagree
8) Which of the offers do you get by your bank while using E-banking services? a)
Cash back
b) Discount
c) Gift voucher
d) Other
9) Do you think E – Banking is safe & Secure? a)

Yes
b) No
10) What do you prefer while selecting E – Banking services?

a) Good services
b) Charges
c) People reference
d) Other
11) Which E – Banking services you use frequently?

a) Fund Transfer
b) Bill payments
c) Online purchase & payments
d) Regular checking of Bank balance
e) Schedule auto payments
71
12) Which benefits you get while using E – Banking services?
a) Time saving
b) Less expensive
c) Easy fund Transfer
d) No need to visit bank for transactions
e) Easy access
13) How frequently you use E – Banking services?

a) Once in a day
b) Once in a week
c) Once in a month
14) What are the problems you facing while using E-banking services?
a) Technology and Service Interruptions
b) Security and Identity Theft Concerns
c) Limitations on Deposits
15) According to you, which bank provides the best services on internet?
a) ICICI Bank
b) HDFC Bank
c) Other
16) Traditional Banking is more convenient than E- Banking?

a) Strongly agree
b) Agree
c) Neutral
d) Disagree
e) Strongly disagree
17) How do you feel the availability of various banking services under one platform?
a) Excellent
b) Satisfactory
c) Good
d) Poor
72
18) In which area of operations at E-Banking improvement is needed?
a) Ask for two-factor authentication
b) Setup reminders to change your password
c) Security of transactions
19) Will you suggest E- Banking to your friends/relatives?

a) Yes
b) No
c) May be
20) How do you rate the overall experience with E -

Banking? a) Excellent
b) Satisfactory
c) Good
d) Poor
73

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UNIVERSITY OF MUMBAI

MUMBAI INSTITUTE OF MANAGEMENT &

A SUMMER INTERNSHIP PROJECT REPORT

STUDIES SEMESTER III

MR. DIKSHANT MILIND JADHAV

UNDER THE GUIDANCE OF

Mr. DIKSHANT MILIND JADHAV

This is to certify that Mr. DIKSHANT MILIND JADHAV student of

Prof. ALIRAZA SAYYAD Dr. ARVIND BIRADAR

It was an indeed learning experience for me.

of HDFC Bank and ICICI Bank.

HDFC and ICICI Bank.

published information in a particular subject area, and sometimes information in a particular

a re-organization, or a restructuring, of that information. It might give a new analysis of old

Third chapter gives us information on research methodology. Research methodology is the

includes objectives, scope and importance of the research.

with the research aims.

called as recommendations and suggestions.

Chapter No. Topic Page No.

• Electronic banking, also known as electronic funds transfer (EFT), is simply

1.2 INDIAN E – BANKING SCENARIO

1.3 E – BANKING V/S TRADITIONAL BANKING

BASIC E - BANKING TRADITIONAL BANKING

Presence E-banking do not have Banks exist physically for serving

Time It does not consume time as It consumes a lot of time as

Security E-banking is the tempting Traditional banking does not

Financial Customers who often travel Customers who often travel

Reduction of With the system of Traditional banking practices do

Manual Small amount of manual Large amount of

Paperwork It is paperless as every It involves large amount of

Expensive Customers do not have to Customers have to spend money

Risk of E-banking provides banking In the case of traditional

➢ E – BANKING AROUND THE GLOBE

United Kingdom 68%

United State of America 67%

3. AUTOMATED TELLER MACHINES (ATM)

• Electronic Clearing Cards

• EFT (Electronic Funds Transfer) System

1.5 ADVANTAGES OF E - BANKING

1. An online account is simple to open and easy to operate.

10. More online services include loans and investment options.

1.6 DISADVANTAGES OF E – BANKING

5. Password security is a must. After receiving your password, change it and

1.7 ROLE OF BANKS IN E – BANKING

1.8 INDUSTRIAL CREDT AND INVESTMENT CORPORATION OF

ICICI Bank is a leading private sector bank in India.

➢ ICICI BANK PROFILE:

Industry Banking, Financial services.

Founded 5 January 1994.

Area served Worldwide.

Tagline “Hum Hai na…”

Vision To be the leading provider of financial services in India

➢ ROLE OF ICICI BANK IN E - BANKING

• Dashboard has My Profile, Shortcut’s customization, Card PIN generation and

• Transfer funds to bank A/c / overseas A/c / through NEFT / RTGS /

• Add ICICI payees / other bank payee

5. View your Transaction status:

1.9 HOSUSING DEVELOPMENT FINANCE CORPORATION (HDFC) BANK

HDFC Bank Limited (Housing Development