PROJECT REPORT ON

A CONSUMER PROSPECTIVE TOWARDS E BANKING SERVICES PROVIDED

BY ICICI BANK

SUBMITTED BY

ASHISH DHANAJI MOHITE

TYBFM SEMESTER – VI

2023-24

UNDER THE
GUIDANCE OF

MR. AMIT KABRA

SUBMITTED TO

UNIVERSITY OF
MUMBAI

VIDYALANKAR SCHOOL OF INFORMATION

TECHNOLOGY (AFFILIATED TO UNIVERSITY OF
MUMBAI) VIDYALANKAR MARG, WADALA (E), MUMBAI
400 037
 ACKNOWLEDGMENT

I hereby acknowledge all those who directly or indirectly helped me in

drafting of this project report. It would not have been possible for me to
complete the task without their help and guidance.

First, I would like to thank my guide Mr. Amit Kabra for the valuable
guidance in completion of my project. I thank the Head of the
Department Mr. Amit Kabra and department faculty members for the
moral support to complete the project. I thank our project in charge
Prof. Santosh Gupta for updating me with university guidelines during
my project work. My heartfelt gratitude to the principal Dr. Rohini Kelkar
and the Vice-Principal Mr. Vijay Gawde, for the opportunity given to do
the project work. Finally, I thank our library staff for assisting me in
getting the right source of information.

Last but not the least; I am thankful to the University of Mumbai for
offering the project in the syllabus. I must mention my hearty gratitude
towards my family, other faculties and friends who supported me to go
ahead with the project.
 DECLARATION

Vidyalankar School of Information Technology

(Affiliated to University of Mumbai)
Vidyalankar Marg, Wadala (E),
Mumbai 400 037

I ASHISH DHANAJI MOHITE student of T.Y. B.Com. In financial

Markets Semester VI, Vidyalankar School of Information
Technology, hereby declare that I have completed the project on A
CONSUMER PERSPECTIVE TOWARDS E-BANKING SERVICES
PROVIDED BY ICICI BANK in academic year 2023-24.

The information submitted is true and original to the best of my

knowledge.

Signature of student

ASHISH MOHITE
 Executive Summary

The E-Banking market is one that is experiencing a period of dramatic change, both in
terms of users and product. This time of change is expected to continue in the future,
making for some exciting times in the industry.

E-Banking banking has been the major success story in the industry. A number of new
functions have become available to E-banking for consumers, such as applying for a loan
or extension of an overdraft. In the past, customers had to visit a bank branch to ask the
bank manager for a loan, but now this can be done online in a much shorter period of time.

As more users access or think about E-Banking it is very important for banks to ensure that
their website is user friendly. As people use banking websites more often it is integral that
they find them easy to use and do not find that a competitor’s website is better in terms of
user experience.

In terms of the number of E-Banking users, Key Note estimates that there were 45.1 million
bank accounts registered to use E-Banking in 2010, up from 28.2 million in 2006. This rise
shows how this part of the market is growing rapidly and banks need to be prepared for this
figure to continue to rise, as Key Note has forecast that there will be 59.8 million bank
accounts registered to use E-Banking in 2015.

As more people choose to use E-Banking to manage their finances, banks are starting to
shut down their local branches. This is another sign that E-Banking is the future of the
consumer banking industry.

Telephone banking is a market that is in slight decline. In 2009, the number of telephone
banking users fell for the first time since its launch in 1989 and Key Note has forecast a
small loss of accounts using telephone banking in 2010. This decline is forecasted to
continue into the future.

The mobile phone banking sector is the market’s biggest opportunity. If implemented
correctly, consumers could pay their bills or apply for a loan within seconds on the go.
NatWest has had its iPhone application on the market for over a year and First Direct
launched the first application in the UK to have a facility to transfer money in January
2011. India has recently updated its specifically designed mobile phone website and almost
all of the major banks have plans to launch a mobile phone application or website in the
coming months. Mobile banking will become much more accessible in the India in 2011.
 -: INDEX: -
Chapter. No. Chapter Name PAGE NO.

Executive Summery

CHAPTER I Introduction 1

CHAPTER II Research Methodology 48

2.1 Statement of Study 48

2.2. Significant Of Study 48

2.3. Scope of Study 49

2.4. Objective Of Study 49

2.5. Data Collection 50

2.6. Source Of Data 50

2.7. Sampling Frame Work 50

(Area Of Research, Sample Size, Sampling

Method)

2.8. Limitation Of the Study 50

CHAPTER III Review of Literature 51

CHAPTER IV Data analysis & findings 54

CHAPTER V Conclusion, Suggestion, Reference 74

Annexure 76

Bibliography 80
 Chapter No.1: - INTRODUCTION

ORIGIN OF THE TERM BANK: -

The name bank is derived from the Italian word banco “desk/bench”, used during the
renaissance by Florentine bankers. these bankers used to make their transaction
above a desk covered by a green tablecloth.

There are traces of banking activity even in ancient times. the word traces its origins
back to the ancient Roman Empire, where moneylenders would set up their stalls in the
middle of enclosed courtyards called macella on a long bench called a bancuit. it is
from here that the words banco and bank are derived.

In simple terms, a bank is an institution that accepts various types of deposits and
then advances money in form of loans to people requiring it.

The oldest bank still in existence is Monte De Paschi Di Siena, headquartered in

Italy, which has been operating continuously since 1472. be assigned, only the
original depositor could collect the stored goods.

Banking

Under Indian law banking regulation act of India ,1949 “Accepting for the purpose
of lending or investment, of deposits of money from the public, repayable on
demand or otherwise and withdrawal by cheque, draft, and order or otherwise
{section 5b}.

The Section 49A of the act prohibits any institution other than a banking company to
accept deposit money from public withdraw able by cheque. banking business is the
function of accepting from public with the facility of withdrawal of money by
cheque. In other words, the combination of the functions of acceptance of public deposit
and withdrawal of the money by cheques by any institution cannot be performed
without the approval of Reserve Bank.

The origin of modern banks is traced to three important source, they are: -

1
 1) The goldsmiths

2) The money lenders

3) The merchant banker

The goldsmith by virtue of dealing in gold, which is a very valuable item, had
facilities for the safe keeping of valuables. he accepted for safe custody the money,
another important valuable item, belonging to his customers. The goldsmiths began
to lend the money knowing that all the depository does not withdraw their saving at a
time. the money lender lent his surplus funds to the needy and earned income by way
of interest. The merchant bankers were primarily trader and had to oblige his
customers by accepting their money for safe custody. he was doing the banking
business as a side occupation.

The banking industry has evolved from barter system and gift economics of earlier
times to modern globalized and technology savvy internet and e-banking an
overview of history of banking detailing the major evens of banking industry.

A bank is a financial institution that serves as a financial intermediary. the term

“Bank” may refer to one of several related types of entities: -

A central bank: circulates money on behalf of a government and acts as its

monetary authority by implementing monetary policy, which regulates the money
supply.

A commercial bank: accepts deposits and pools those funds to provide credit,
either directly by lending or indirectly by investing through the capital markets.
within the global financial markets, these institutions connect market participants
with capital deficits[borrowers] to market participants with capital surplus [investor
or lenders] by transferring funds from those parties who have surplus funds to invest
[financial asset] to those parties who borrow funds to invest in real assets

2
Land and development banks: The special banks providing Long Term Loans are
called Land Development Banks, in the short, LDB. The history of LDB is quite old.
The first LDB was started at Jhang in Punjab in 1920. The main objective of the
LDBs is to promote the development of land, agriculture and increase the
agricultural production. The LDBs provide long-term finance to members directly
through their branches

A saving bank: saving bank is also known as “building society” in the UK is similar
to a savings and loan association they can either be stockholder owned or mutually
owned, in which case they are permitted to only borrow from members of the
financial co-operative. the asset structure of savings banks and savings and loan
association is similar, with residential mortgage loans providing the principal assets
of the institution’s portfolio. because of the important role depository institutions
play in the financial system, the banking industry is generally regulated with
government restrictions on financial activity by location.

A Banks main source of income paid on loans. a bank pays out at a lower interest
rate on deposits and receives a higher interest rate on loans. the difference between
these rates represents the bank’s net income. bank also generate non-interest income
from service fees for retail and business banking products, transactional fees or other
non- traditional services such as trust and wealth management consulting, insurance,
cash management services, mortgage loan closing costs and points.

3
BANKING IN INDIA:

Banking in India in the modern sense originated in the last decades of the 18th
century. The first banks were Bank of Hindustan (1770-1829) and The General Bank
of India, established 1786 and since defunct. The largest bank, and the oldest still in
existence, is the State Bank of India, which originated in the Bank of Calcutta in
June 1806, which almost immediately became the Bank of Bengal. This was one of
the three presidency banks, the other two being the Bank of Bombay and the Bank of
Madras, all three of which were established under charters from the British East
India Company. The three banks merged in 1921 to form the Imperial Bank of India,
which, upon India's independence, became the State Bank of India in 1955. For
many years the presidency banks acted as quasi-central banks, as did their
successors, until the Reserve Bank of India was established in 1935.

4
A couple of decades later, foreign banks like credit Lyonnais also started operation
in the 1850s in Calcutta. Banking activity took roots and prospered in Calcutta. The
Allahabad bank, in 1895, was the first fully Indian owned bank. Bank of India, in
1906 in Mumbai both were founded under private ownership.

The Reserve bank of India formally took on the responsibility of regulating the
Indian banking sector from 1935. After India’s independence in 1947, the Reserve
bank was nationalized and given broader powers to regulate and control the banking
sector.

In 1969 the Indian government nationalized all the major banks that it did not
already own and these have remained under government ownership. They are run
under a structure known as 'profit-making public sector undertaking' (PSU) and are
allowed to compete and operate as commercial banks. The Indian banking sector is
made up of four types of banks, as well as the PSUs and the state banks, they have
been joined since the 1990s by new private commercial banks and a number of
foreign banks.

Generally banking in India was fairly mature in terms of supply product range
and reach-even though reach in rural India and to the poor still remains a challenge.
The government has developed initiatives to address this through the State Bank of
India expanding its branch network and through the National Bank for Agriculture
and Rural Development with things like microfinance.

A bank’s main source of income is interest paid on loans. A bank pays out a
lower interest rate on deposits and receives a higher interest rate on loans. the
difference between these rates represents the bank’s net income. Banks also generate
non- interest income from service fees for retail and business banking products,
transactional fees, and non-traditional services such as trust and wealth management
consulting, insurance, mortgage loan closing costs and points.

5
E-BANKING

DEFINITION OF E-BANKING:

E-Banking is defined as the automated delivery of new and traditional banking

products and services directly to customers through electronic, interactive
communication channels.

INTRODUCTION TO E-BANKING: -

Electronic banking, personal computer [pc] banking, Internet banking, virtual

banking, online banking, home banking, remote electronic banking and phone
banking. electronic banking is an umbrella term for the process by which a customer
may perform banking transaction electronically without visiting a brick-and-mortar
institution.

E-Banking includes the systems that enable banks’ customers- individuals or

business, to check accounts, do/transact business or obtain information on financial
products and services through a public or private network, including the internet.

customers can avail e-banking services by using an intelligent electronic device,

such as a personal computer[pc], personal digital assistant [PDA], Automated teller
machine [ATM], Kiosk or Touch Tone Telephone [TTT].

6
 Traditional banks offer many services to their customers, including accepting
customer money deposits provide various banking services to customers, and
making loans to individuals and companies. compared with traditional channels of
offering banking services through physical branches, e-banking uses the internet to
deliver traditional banking services to their customers, such as opening accounts,
transferring funds, and electronic bill payment.

E-Banking can be offer by existing bank with physical offices can establish
online site and offer e-banking services to its customers in addition to regular
channel.

E-Banking services are delivered to customers through the internet and the web
using hypertext markup language [HTML]. in order to use e-banking services
customers need internet access and web browser software. multimedia information
in [HTML] format from online banks can be displayed in web browsers. the heart of
the e-banking application is the computer system, which includes web server data
base management system and web application programs that can generate dynamic
[HTML] pages. one of the main concerns of e-banking is security. without great
confidence in security customers are unwilling to use a public network such as the
internet, to view their financial information online and conduct financial transaction.
some of the security threats include invasion of individual’s privacy and theft of
confidential information.

To access a financial institution's online banking facility, a customer with Internet

access would need to register with the institution for the service, and set up some
password (under various names) for customer verification. The password for online
banking is normally not the same as for telephone banking. Financial institutions
now routinely allocate customers numbers (also under various names), whether or
not customers have indicated an intention to access their online banking facility.
Customers' numbers are normally not the same as account numbers, because a
number of customer accounts can be linked to the one customer number The
customer can link to the customer number any account which the customer controls,
which may be cheque, savings, loan and credit card. Customer numbers will also not
be the same as any debit or credit card issued by the financial institution to the
customer.

7
To access online banking, a customer would go to the financial institution secured
website, and enter the online banking facility using the customer number and
password previously setup. Some financial institutions have set up additional
security steps for access to online banking, but there is no consistency to the
approach adopted.

HISTORY OF E-BANKING: -

The precursor for the modern home online banking services were the distance
banking services over electronic media from the early 1980s. The term online
became popular in the late '80s and referred to the use of a terminal, keyboard and
TV (or monitor) to access the banking system using a phone line. 'Home banking'
can also refer to the use of a numeric keypad to send tones down a phone line with
instructions to the bank. Online services started in New York in 1981 when four of
the city's major banks (Citibank, Chase Manhattan, Chemical and Manufacturers
Hanover) offered home banking services. using the videotext system. Because of
the commercial failure of videotext these banking services never became popular
except in France where the use of videotext (Minitel) was subsidized by the telecom
provider and the UK, where the Prestel system was used.

The UK’s first home online banking services was set up by bank of Scotland for
customers of the Nottingham building society in 1983. the system used a customer
such as the BBC micro or keyboard [tan data Td 1400] connected to the telephone
system and television set. the system known as ‘Home link’ allowed online viewing
of statements, bank transfer and bill payments a written instruction giving detail of
the intended recipient had to be sent to the NBS who set the details up on the home
link system. typical recipients were gas, electricity and telephone companies and
accounts with other banks. details of payments to be made were input into the NBS
system by the account holder via Prestel.

8
Chemical introduced its Pronto services for individuals and small businesses in
1983. It allowed individual and small-business clients to maintain electronic check
book registers, see account balances, and transfer funds between checking and
savings accounts. Pronto failed to attract enough customers to break even and was
abandoned in 1989. Other banks had a similar experience.

Banks have traditionally been in the forefront of harnessing technology to improve

their products, services and efficiency. They have, over a long time, been using
electronic and telecommunication networks for delivering a wide range of value-
added products and services. The delivery channels include direct dial–up
connections, private networks, public networks etc. and the devices include
telephone, Personal Computers including the Automated Teller Machines, etc. With
the popularity of PCs, easy access to Internet and World Wide Web (WWW),
Internet is increasingly used by banks as a channel for receiving instructions and
delivering their products and services to their customers. This form of banking is
generally referred to as Internet Banking, although the range of products and
services offered by different banks vary widely both in their content and
sophistication.

Stanford federal credit union was the first financial institution to offer online internet
banking services to all of its members in October 1994.

In 1994 online banking is built into Microsoft money personal finance software
100000 households began accessing bank accounts online after words in 2007 apple
launch the iPhone and a shift from banking via personal computer to banking via

9
smart phone begins. in 2009 the bank branches are increasingly less important to
customer and banking moves to kiosk and online solution.

The entry of Indian banks into Net Banking:

Internet banking, both as a medium of delivery of banking services and as a strategic

tool for business development, has gained wide acceptance internationally and is fast
catching up in India with more and more banks entering the fray. India can be said to
be on the threshold of a major banking revolution with net banking having already
been unveiled. A recent questionnaire to which 46 banks responded, has revealed
that at present, 11 banks in India are providing Internet banking services at different
levels, 22 banks propose to offer Internet banking in near future while the remaining
13 banks have no immediate plans to offer such facility.

At present, the total Internet users in the country are estimated at 9 lakhs. However,
this is expected to grow exponentially to 90 lakhs by 2003. Only about 1% of
Internet users did banking online in 1998. This increased to 16.7% in March 2000.
The growth potential is, therefore, immense. Further incentives provided by banks
would dissuade customers from visiting physical branches, and thus get ‘hooked’ to
the convenience of arm-chair banking. The facility of accessing their accounts from
anywhere in the world by using a home computer with Internet connection, is
particularly fascinating to Non-Resident Indians and High Net Worth Individuals
having multiple bank accounts.

Today, many banks are internet only banks. unlike their predecessors these internets
only banks do not maintain brick and mortar bank branches. instead, they typically
differentiate themselves by offering better interest rates and online banking features

10
A bank customer can perform non-transactional tasks through online banking,

Including –

Viewing account balances

Viewing recent transactions
Downloading bank statements, for example in PDF format
Viewing images of paid cheques
Ordering cheque books
Download periodic account statements
Downloading applications for M-banking, E-banking etc.

Bank customers can transact banking tasks through online banking including-
Funds transfers between the customer's linked accounts
Paying third parties, including bill payments (see, e.g., BPAY) and third party fund
transfers(see, e.g., FAST)
Investment purchase or sale
Loan applications and transactions, such as repayments of enrolments
Credit card applications
Register utility billers and make bill payments
Financial institution administration

11
Management of multiple users having varying levels of authority
Transaction approval process

Some financial institutions offer unique Internet banking services, for example:

Personal financial management support, such as importing data into personal

accounting software. Some online banking platforms support aggregation to allow
the customers to monitor all of their accounts in one place whether they are with
their main bank or with other institutions.

Account Details: View your bank account details, account balance, download
statements and more. Also view your Demat, Loan & Credit Card Account Details
too all in one place.

Fund Transfer: Transfer fund to your own accounts, other Axis Bank accounts or
Other Bank account seamlessly.

Request Services: Give a request for Cheque book, Demand Draft, Stop Cheque
Payment, Debit Card Loyalty Point Redemption etc.

Investment Services: View your complete Portfolio with the bank, Create Fixed
Deposit, Apply for IPO etc.

Value Added Services: Pay Utility bills for more than 160 billers, Recharge
Mobile, Create Virtual Cards, pay any Visa Credit Card bills, Register for e-
statement and SMS banking etc.

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 Types of E-banking

PHONE BANKING: -

a) Interactive voice response

b) Mobile banking

Is the provision of banking services using a classic telephone line A bank client can
obtain the necessary information on dialling a telephone number specified in
advance Before the requested banking service information is provided, the client’s
identity is determined using contractually agreed terms. Using this banking service
enables bank clients to obtain information concerning active and passive banking
products, but a client can also actively use the bank payment system and request, for
example, a payment order or a collection order, open or cancel a term deposit or a
current account. In this case a fax connected to the telephone serves as an output
communication channel.

The client advisor or so-called telephone banker is a bank employee capable of

providing any information about products and services and, following verification
that he is speaking with an authorized person, can also perform any passive or active
operation. He can provide advice to the client and offer further banking products.
One advantage of this service is that it requires no additional technical equipment

13
apart from a telephone. As a rule, bank telephone centre (call centre) operators work
24 hours a day nonstop and it is thus possible to use their services from any place at
any time.

A client advisor is a bank employee; the bank pays his salary thus increasing its
costs and fees for this service. Banks there for sometimes establish automated
telephone systems.

MAIL BANKING: -

Mail banking is another electronic banking service that makes it possible to

communicate with the bank by electronic mail or e-mail. The most frequently used
service is sending account statements at agreed periodicity to the client’s mailbox.
E-mail is not used for more complex operations.

This service uses the public communications network, the internet. Its aim is to
provide the client prompt information on operations realized on his/her account in
electronic form.

You can receive an electronic account statement in the form of a:

Daily Statement - will be send to you for each day when there is at least one
movement on your account. The file is sent as standard in a text format. If you are
interested in using an electronic signature for automated processing - for example
importing into your accountancy, we can provide you also with another format to
suit your need - HB, ABO, CC or MT940,

Monthly Statement - which you will obtain on the first day of each month with a
complete summary of movements on your account for the preceding month. We will
send you an electronic statement for any current account administered in Slovak
koruna or for foreign currency.

14
HOME BANKING: -

The practice of conducting banking transactions from home rather than at

branch locations. Home banking generally refers to either banking over the
telephone or on the internet. The first experiments with internet banking started in
the early 1980s, but it did not become popular until the mid-1990s when home
internet access was widespread.
Today, a variety of internet banks exist which maintain few, if any, physical
branches.

Home banking is a service that enables a bank client to handle his accounts from a
computer from a place selected in advance, at home or in the office. The main features
of home banking systems are the high level of security, comfort, simplicity of use,
openness of the system, wide communication possibilities, networking, definition of
users and their rights, automated data transmission and the option to define a combined
signature specimen. A home banking system usually consists of two parts: a bank
computer program and a program in the client’s computer. The bank program works as
a communication server. It receives calls from clients, verifies their identity, receives
data from them, authenticates digital signatures, generates digital receipts and sends data
to clients. A home banking computer system is a multi-user application, meaning that
several of

15
INTERNET BANKING: -

Internet banking can be used from the home or the office, as well as an internet café,
although the latter is not recommended for security reasons. In order to handle his
account a user just needs an internet browser (such as MS Explorer or Netscape
Navigator). A client cannot avoid visiting the bank though, because he must first ask
for an identification code.
After opening the bank’s web site, the client simply selects internet banking and,
further to proper identification, can perform passive or active operations. Good
internet banking should provide a maximum of services.

Internet has enabled banking at the click of a mouse. Internet banking is all poised to
emerge as the most profound electronic channel in the near future. internet banking
reduces bank’s operating expenses mainly due to savings on prohibitive estate costs
and expensive staff salary. It is estimated that the cost per transaction in internet
banking will be only one tenth of a regular branch transaction.

Internet banking is a platform for electronic delivery of banking services to the

customers. In internet banking, customers of a bank with a pc and a browser, can
have access to his bank’s website, and therefore perform various banking function.
Thus, he can avail of the bank’s services from anywhere and at any time.

With the drastic fake in cell phone tariff and emergence of seamless connectivity
between fixed and mobile lines, telebanking or mobile banking is set to emerge as

16
one of the cost-effective delivery channels in the near future. The toll-free number
would also gain popularity as an important delivery channel. Successful adoption of
wireless technology would help banks to offer not only anytime, anywhere banking
but also any device banking.

AUTOMATED TELLER MACHINE (ATM):

ATM is designed to perform the most important function of bank. It is operated by

plastic card with its special features. The plastic card is replacing cheque, personal
attendance of the customer, banking hours restrictions and paper-based verification.
There are debit cards. ATMs used as spring board for Electronic Fund Transfer.
ATM itself can provide information about customers account and also receive
instructions from customers - ATM cardholders. An ATM is an Electronic Fund
Transfer terminal capable of handling cash deposits, transfer between accounts,
balance enquiries, cash withdrawals and pay bills. It may be on-line or 0ff-line. The
on-line ATN enables the customer to avail banking facilities from anywhere. In off-
line the facilities are confined to that particular ATM assigned. Any customer
possessing ATM card issued by the Shared Payment Network System can go to any
ATM linked to Shared Payment Networks and perform his transactions.

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Biometric ATMs and solar powered ATMs have been introduced in recent times to
boost micro financing initiative and financial inclusion

1. Biometric ATMs:

ATMs are equipped with biometric identification of the user so that even the
illiterate masses can use ATMs. Biometric identification is nothing but using the
body as a password. It refers to the technique of verifying a person by a physical
characteristic or personal trait. for e.g. if a fingerprint scan is used for
authentication, a customer is required to set his finger on the fingerprint scanner
when he inserts (or stripes) his card in a biometric-enabled ATM. So, there is no
need to remember the personnel identification number (PIN). A company’s
biometric ATM interface solution (BAIS) meet the requirements by performing
the requisite message transactions as well as confirming authorization
.
2. Solar powered ATMs

ATMs are equipped with biometric identification of the user so that even the
illiterate masses can use ATMs. Biometric identification is nothing but using
the body as a password. It refers to the technique of verifying a person by a
physical characteristic or personal trait. for e.g. if a fingerprint scan is used for
authentication, a customer is required to set his finger on the fingerprint
scanner when he inserts (or stripes) his card in a biometric-enabled ATM. So,
there is no need to remember the personnel identification number (PIN). A
company’s biometric ATM interface solution (BAIS) meet the requirements
by performing the requisite message transactions as well as confirming
authorization.
It is an ATM designed to enable a low-cost model in delivering banking
services in rural areas by using the solar energy. These ATMs are easy to use
since they employ biometric system and moreover, they are eco-friendly. It is
less power hungry and cheaper. It requires only one-fourth of the cost of a
conventional ATM.

3. White label ATMs:

18
 With a view to encouraging the growth and penetration of ATMs, non-
banking entities have been permitted to enter into the space of ATM
operations. ATMs opened under such categories are called white Label ATMs.
so far, 12 non-banking entities have been granted approval to launch white
label ATMs.

Credit Cards/Debit Cards:

The Credit Card holder is empowered to spend wherever and whenever he wants
with his Credit Card within the limits fixed by his bank. Credit Card is a post-paid
card. Debit Card, on the other hand, is a prepaid card with some stored value. Every
time a person uses this card, the Internet Banking house gets money transferred to its
account from the bank of the buyer. The buyer’s account is debited with the exact
amount of purchases. An individual has to open an account with the issuing bank
which gives debit card with a Personal Identification Number (PIN). When he makes
a purchase, he enters his PIN on shops PIN pad. When the card is slurped through
the electronic terminal, it dials the acquiring bank system - either Master Card or
VISA that validates the PIN and finds out from the issuing bank whether to accept or
decline the transactions. The customer can never overspend because the system
rejects any transaction which exceeds the balance in his account. The bank never
faces a default because the amount spent is debited immediately from the customer’s
account.

19
SMART CARD:

Banks are adding chips to their current magnetic stripe cards to enhance security and
offer new service, called Smart Cards. Smart Cards allow thousands of times of
information storable on magnetic stripe cards. In addition, these cards are highly
secure, more reliable and perform multiple functions. They hold a large amount of
personal information, from medical and health history to personal banking and
personal preferences.

The smart card technology is also widely used by bankers to market their products.
Smart card, which is a chip- based card, is a kind of an electronic purse. Embedded
in the smart card is microchip which will store a monetary value. When a transaction
is made using the card, the value is debited and balance comes down automatically.
Once the monetary value comes down to nil, the balance is to be restored all over
again so that the card becomes operational as usual. It is more secure that ATM,
debit and credit cards because card related frauds and crimes cannot take place in a
smart card. It provides communication security as it verifies whether the signature is
genuine or not. The card also recognizes different voice and compares with the
recorded original voice. It is used for making purchase without the necessity of
requiring the authorization of personal identification number (PIN) as in a debit
card. It does away with all problems associated with the traditional currency.
In fact, a smart card is a truly powerful token which carries out all the functions of
magnetic strips cards like ATM card, credit and debit cards etc.

20
NSS – NATIONAL SETTLEMENT SYSTEM: -

National settlement system is a system established by reserve bank of India

through which the clearing houses/clearing organizations can settle the net position
of the participating banks at the national level.
The Federal Reserve Banks provide the National Settlement Service (NSS),
which allows participants in private-sector clearing arrangements to exchange and
settle transactions on a multilateral basis through designated master accounts held at
the Federal Reserve Banks. There are approximately 17 NSS arrangements that have
been established by financial market utilities, check clearinghouse associations, and
automated clearinghouse networks.
NSS provides an automated mechanism for submitting settlement files to the
Federal Reserve Banks and reduces settlement risk to participants by granting
settlement finality on settlement day. NSS also enables the clearing arrangements to
manage and limit settlement risk by incorporating risk controls that are as robust as
those used in the Fedwire Funds Service. Participants generally submit settlement
files online, by initiating an electronic message. The NSS business day begins at
8:30 a.m. and ends at 5:00 p.m. eastern time (ET), Monday through Friday,
excluding designated holidays. Files submitted earlier than 8:30 a.m. ET are queued
for processing beginning at 8:30 a.m. ET.

RTGS AND NEFT: -

Electronic payment system initiated by RBI is Real Time Gross Settlement. RTGS is
a fund transfer system where transfer of money takes place from one bank to another on a
real time basis. this is the fastest mode of funds transfer available in India through banking
channel. RTGS is an electronic payment system in which payment instruction between
banks are processed and settled individually and continually, on a real time basis,
throughout the day.

21
 NEFT stands for ‘National Electronic Funds Transfer’ and the funds transfer
takes place within the same day if it is within the cut-off time and the next working
day if it is beyond the cut-off time prescribe. it is a batch settlement mode. funds are
transfer to the credit account with the other participating bank using RBI’s NEFT
service. RBI acts as the service provider and transfers the credit to the other bank’s
account. it is a nation – wide system that facilities individuals to electronically
transfer funds from any bank branch to any other bank branch in the country.

It is an electronic payment system in which payments instruction between banks are

processed and settled on deferred net settlement [DNS] basis at fixed times during the day.

DIGITAL TV AND TELEBANKING: -

The Television Banking enables customers to conduct banking business with

television and TV set-top box as the terminal and remote control for the operational
tool based on the cable TV broadband network. Compared with online banking,
television banking is closer to the life of everyone. Customers of television banking
do not need to purchase a computer or bear the internet "jam"; compared with
telephone banking, television banking has a more direct trading interface and all-
inclusive information display. Television banking enables customers to complete
banking transactions through the television, have access to financial products and
industry information, and experience a more fashionable and convenient wealth
management approach.

Using the standard digital reception equipment [set top box and remote
control], users can access their bank account. abbey national and HSBC services are
available via digital TV providers. one of its main selling points is that no account
details are transmitted via the world wide web.

Telephone banking is a service provided by a bank or other financial

institution, that enables customers to perform financial transactions over the
telephone, without the need to visit a bank branch or automated teller machine.
Telephone banking times can be longer than branch opening times, and some
financial institutions offer the service on a 24 hour basis. From the bank's point of
view, telephone banking reduces the cost of handling transactions by reducing the

22
need for customers to visit a bank branch for non-cash withdrawal and deposit
transactions.

Telebanking is increasingly used as a delivery channel for making banking

services. A customer can do entire non-cash-related banking over the phone
anywhere and at any time. Automatic voice recorders (AVR) or ID number are used
for rendering telebanking services which have added convenience to customers.

Services, Attack, Security, Countermeasure

Security:

One of the biggest attractions of Internet as an electronic medium is its openness and
freedom. It is a public domain and there is no restriction on who can use it as long as
one adheres to its technical parameters. This has also given rise to concerns over the
security of data and information transfer and privacy. These concerns are common to
any network including closed user group networks. But over the Internet, the
dimensions of risk are larger while the control measures are relatively fewer. It will
be sufficient to say here that the key components of such concern are,

a. Authentication, viz., assurance of identity of the person in a deal,

b. Authorization, viz., a party doing a transaction is authorized to do so,

c. The privacy or confidentiality of data, information relating to any deal,

23
 d. Data integrity, viz., assurance that the data has not been altered

e. Non repudiation, viz., a party to the deal cannot deny that it originated the
communication or data.

Security of a customer's financial information is very important, without which

online banking could not operate. Financial institutions have set up various security
processes to reduce the risk of unauthorized online access to a customer's records,
but there is no consistency to the various approaches adopted. The use of a secure
website has become almost universally adopted.

The PIN/TAN system where the PIN represents a password, used for the login and
TANs representing one-time passwords to authenticate transactions. TANs can be
distributed in different ways; the most popular one is to send a list of TANs to the
online banking user by postal letter. Another way of using TANs is to generate them
by need using a security token. These token generated TANs depend on the time and
a unique secret, stored in the security token (two-factor authentication or 2FA).
More advanced TAN generators (chip TAN) also include the transaction data into
the TAN generation process after displaying it on their own screen to allow the user
to discover man-in-the-middle attacks carried out by Trojans trying to secretly
manipulate the transaction data in the background of the PC.
Another way to provide TANs to an online banking user is to send the TAN of the
current bank transaction to the user's (GSM) mobile phone via SMS. The SMS text
usually quotes the transaction amount and details, the TAN is only valid for a short
period of time. Especially in Germany, Austria and The Netherlands, many banks
have adopted this "SMS TAN" service.
Usually online banking with PIN/TAN is done via a web browser using SSL secured
connections, so that there is no additional encryption needed.

Signature based online banking where all transactions are signed and encrypted
digitally. The Keys for the signature generation and encryption can be stored on
smartcards or any memory medium, depending on the concrete implementation.

Attacks:

24
Attacks on online banking used today are based on deceiving the user to steal login
data and valid TANs. Two well-known examples for those attacks are phishing and
pharming. Cross-site scripting and key logger/Trojan horses can also be used to steal
login information.

A method to attack signature based online banking methods is to manipulate the

used software in a way that correct transactions are shown on the screen and faked
transactions are signed in the background.

A 2008 U.S. Federal Deposit Insurance Corporation Technology Incident Report,

compiled from suspicious activity reports banks file quarterly, lists 536 cases of
computer intrusion, with an average loss per incident of $30,000 That adds up to a
nearly $16-million loss in the second quarter of 2007. Computer intrusions increased
by 150 percent between the first quarter of 2007 and the second. In 80 percent of the
cases, the source of the intrusion is unknown but it occurred during online banking,
the report states.

Another kind of attack is the so-called Man in the Browser attack, where a Trojan
horse permits a remote attacker to modify the destination account number and also
the amount.

As a reaction to advanced security processes allowing the user to cross check the
transaction data on a secure device there are also combined attacks using malware
and social engineering to persuade the user himself to transfer money to the
fraudsters on the ground of false claims (like the claim the bank would require a
"test transfer" or the claim a company had falsely transferred money to the user's
account and he should "send it back"). Users should therefore never perform bank
transfers they have not initiated themselves.

25
Countermeasures:

There exist several countermeasures which try to avoid attacks. Digital certificates
are used against phishing and pharming, in signature based online banking variants
(HBCI/FinTS) the use of "Secoder" card readers is a measurement to uncover
software side manipulations of the transaction data. [11] To protect their systems
against Trojan horses, users should use virus scanners and be careful with
downloaded software or e-mail attachments.

In 2001, the U.S. Federal Financial Institutions Examination Council issued

guidance for multifactor authentication (MFA) and then required to be in place by
the end of 2006.

In 2012, the European Union Agency for Network and Information Security advised
all banks to consider the PC systems of their users being infected by malware by
default and therefore use security processes where the user can cross check the
transaction data against manipulations like for example (provided the security of the
mobile phone holds up) SMS TAN where the transaction data send along with the
TAN number or standalone smartcard readers with an own screen including the
transaction data into the TAN generation process while displaying it beforehand to
the user (see chip TAN) to counter man-in-the-middle attacks..

E-BANKING STRUCTURE: -

26
Internet is a vast network of individual computers and computer networks connected to
and communicate with each other using the same communication protocol TCP/IP
(Transmission Control Protocol/Internet Protocol). When two or more computers are
connected a network is created; connecting two or more networks create 'internetwork" or
Internet. The Internet, as commonly understood, is the largest example of such a system.
Internet is often and aptly described as "Information Superhighway means to reach
innumerable potential destinations. The destination can be any one of the connected
networks and host computers.

E-banking systems differ in their structure depending in the following factors:

E-banking server:

The objectives of banks for e-banking.

The technological expertise required and the relevant capacity of the banks in
affording such technology.
The level of operations-it is based on the scope and complexity, systems, and
planned activities of the banking institutions.
Hardware- the hardware requirements include:

i. servers
ii. storage device and database

27
 iii. communication channels and lines iv. Gateways and remotely located devices
[e.g. thin clients or internet appliance] serving as interface between users and
computers.
The software requirements and the limit that the bank can afford- including up
gradation in future.
the software requirements include:

i. operating system
ii. firewalls
iii. database management systems
iv. security application programs

Technology for security – this is based on the internal control requirements. it

includes the authentication of customers such as passwords etc.
Training required to administer at the institutional level and the resultant cost
elements.

E-BANKING COMPONENTS: -

E-banking systems can vary significantly in their configuration depending on a

number of factors. Financial institutions should choose their e-banking system
configuration, including outsourcing relationships, based on four factors:

Automated decision support systems

programming support

core processing system

Internal network services

e-banking application

website design and hosting

firewall configuration and management

intrusion detection system network administration

security management

internet banking server.

28
Financial institutions may choose to support their e-banking services internally.
Alternatively, financial institutions can outsource any aspect of their e-banking systems
to third parties. The following entities could provide or host (i.e., allow applications to
reside on their servers) e-banking-related services for financial institutions:

Another financial institution,

Internet service provider,

Internet banking software vendor or processor,

Core banking vendor or processor,

Managed security service provider,

Bill payment provider,

Credit bureau, and

Credit scoring company.

E-banking systems rely on a number of common components or processes. The

following list includes many of the potential components and processes seen in a
typical institution:

Website design and hosting,

Intrusion detection system or IDS (network and host-based),

Network administration,

Security management,

Internet banking server,

E-commerce applications (e.g., bill payment, lending, brokerage),

Internal network servers,

Core processing system,

Programming support, and

Automated decision support systems.

29
These components work together to deliver e-banking services. Each component
represents a control point to consider.

Through a combination of internal and outsourced solutions, management has many

alternatives when determining the overall system configuration for the various
components of an e-banking system. However, for the sake of simplicity, this
booklet presents only two basic variations. First, one or more technology service
providers can host the e-banking application and numerous network components as
illustrated in the following diagram. In this configuration, the institution's service
provider hosts the institution's website, Internet banking server, firewall, and
intrusion detection system. While the institution does not have to manage the daily
administration of these component systems, its management and board remain
responsible for the content, performance, and security of the e-banking system.

Figure 1: Third-Party Provider Hosted E-Banking Diagram

This diagram illustrates the transaction flow for one possible configuration where the
bank relies on a technology service provider to host its Internet banking application.

- Internet banking customer sends an e-banking transaction through their

Internet Service Provider (ISP) via a phone, wireless, or broadband connection.

30
- The customer's ISP routes the transaction through the Internet and sends it to
the e-banking service provider's ISP, which routes it to the provider.

- The transaction enters the provider's network through a router, which directs
the e-banking transaction through a firewall to the application running on the
Internet banking server.

- The website server and Internet banking server may have host-based intrusion
detection system (IDS) software monitoring the server and its files to provide alerts
of potential unauthorized modifications.

- Network IDS software may reside at different points within the network to
analyse the message for potential attack characteristics that suggest an intrusion
attempt.

- The Internet banking application processes the transaction against account

balance data through a real time connection to the core banking system or a database
of account balance data, which is updated periodically from the core banking
system.

- The Internet banking server has a firewall filtering Internet traffic from its
internal network.

Second, the institution can host all or a large portion of its e-banking systems
internally. A typical configuration for in-house hosted, e-banking services is
illustrated below. In this case, a provider is not between the Internet access and the
financial institution's core processing system. Thus, the institution has day-to-day
responsibility for system administration.

31
 Figure 2: In-House E-Banking Diagram

Benefits And Risk

Benefits

The main benefit from the bank customers’ point of view is significant saving of
time by the automation of banking services processing and introduction of an easy
maintenance tools for managing customer’s money.

1. Bill Pay: Bill Pay is a service offered through Internet banking that allows the
customer to set up bill payments to just about anyone. Customer can select the
person or company whom he wants to make a payment and Bill Pay will
withdraw the money from his account and send the payee a paper check or an
electronic payment
2. Other Important Facilities: E- banking gives customer the control over
nearly every aspect of managing his bank accounts. Besides the Customers can,
Buy and Sell Securities, Check Stock Market Information, Check Currency
Rates, Check Balances, see which checks are cleared, Transfer Money, View
Transaction History and avoid going to an actual bank. The best benefit is that
Internet banking is free. At many banks the customer doesn't have to maintain a

32
 required minimum balance. The second big benefit is better interest rates for
the customer.
3. Any time banking: E-banking provides 24 hours, 365 days services to
customer.
4. Online purchase: customer can buy product of bank or invest in any scheme
without actually insisting the bank branch but only through online.
5. Saving in time: with the help of e-banking there is no need for bank
customers to stand in queue for hours to complete financial transaction.
You can do almost everything from the comfort of your own home. You don't need
to queue up in a branch to be served. You don't need transport or have to waste time
driving to the bank and trying to find a parking place You can get instant statements
for your account(s). the savings rate offered are often better than the High Street as
online Banks pass on their cost savings. It is easy to compare deals between banks
and special offers. You can apply for a loan or a mortgage directly from the web
site and get an answer very quickly.

E-banking is basically internet-based. Banking products and services such as

deposits, remittance, credit card, etc. as well as all important banking information
can be made available with easy access to customers on internet. customer can
make use of these services with no restricted office hours, no queues, no tellers and
no waiting. Several network innovation foe e-banking can be visualized such as
smart card, electronic data interchange, etc. of course, the banking operations have
to be guarded against unauthorized access by intruders.

Problems:

1. Confidentiality, Integrity, Authentication: -

These are the three most significant aspects of the banking sector, and they
were successfully managed all over the world prior to the internet's arrival.
Communication over an open and thus unsecure channel like the internet may
not be the greatest foundation for bank-client relationships because trust may
be lost in part.

2. Customer Satisfaction: -

33
 Customers' happiness is a big challenge for the banking sector in today's
competitive world, because customers have a variety of options for the
services supplied by banks.

3. Handling Technology: -

To reach and maintain high service and efficiency standards while being cost
effective and producing a sustainable return to shareholders, it is critical to
develop or acquire the correct technology, deploy it optimally, and then use it
to the fullest extent possible. Early technology adopters get major competitive
advantages. As a result, managing technology is a major concern for the
Indian banking industry.

4. Security Risk: -

The issue of security has become one of the most pressing concerns for banks.
Due to uncertainties and security concerns, a big number of clients refuse to
use e-banking services. Because of security concerns, the majority of internet
users in India do not use internet banking. As a result, it's a significant
problem for marketers, and it satisfies consumers' security worries, perhaps
increasing the use of internet banking.

34
INDUSTRIAL CREDIT AND INVESTMENT CORPORATION
OF INDIA [ICICI] BANK: -

INTRODUCTION OF ICICI BANK

35
 ICICI bank is a leading Private sector bank in India. The bank’s
consolidated total assets stood at 264.50 billion$ at December 31, 2023. ICICI
bank currently has a network of 5275 branches and 15,589 ATMs across India.
ICICI bank’s board members include eminent individuals with a wealth of
experience in international business, management consulting, banking and
financial service. 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. 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.

ICICI Bank launched internet banking operations in 1998.

ICICI's shareholding in ICICI Bank was reduced to 46 percent, through a public

offering of shares in India in 1998. followed by an equity offering in the form of
American Depositary Receipts on the NYSE in 2000. ICICI Bank acquired the
Madura Limited in an all-stock deal in 2001 and sold additional stakes to
institutional investors during 2001-02.

in the 1990s, ICICI transformed its business from a development financial

institution offering only project finance to a diversified financial services group
offering a wide variety of products and services, both directly and through a
number of subsidiaries and affiliates like ICICI Bank. In 1999, ICICI become the
first Indian company and the first bank or financial institution from non-Japan Asia
to be listed on the NYSE. In 2000, ICICI Bank became the first Indian bank to list
on the New York Stock Exchange with its five million American depository shares
issue generating a demand book 13 times the offer size.

In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the
merger of ICICI and two of its wholly owned retail finance subsidiaries, ICICI
Personal Financial Services Limited and ICICI Capital Services Limited, with
ICICI Bank. The merger was approved by shareholders of ICICI and ICICI Bank
in January 2002, by the High Court of Gujarat at Ahmadabad in March 2002 and
by the High Court of Judicature at Mumbai and the Reserve Bank of India in April
2002.

36
In 2008, following the 2008 financial crisis, customers rushed to ICICI ATMs and
branches in some locations due to rumours of adverse financial position of ICICI
Bank. The Reserve Bank of India issued a clarification on the financial strength of
ICICI Bank to dispel the rumours.

ICICI Bank is one of the Big Four banks of India, along with State Bank of India,
Punjab National Bank and Bank of Baroda. The bank has subsidiaries in the
United Kingdom, Russia, and Canada; branches in United States, Singapore,
Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance Centre;
and representative offices in United Arab Emirates, China, South Africa,
Bangladesh, Thailand, Malaysia and Indonesia. The company's UK subsidiary has
also established branches in Belgium and Germany.

In March 2013, Operation Red Spider showed high-ranking officials and some
employees of ICICI Bank involved in money laundering. After a government
inquiry ICICI Bank suspended 18 employees and faced penalties from the Reserve
Bank of India in relation to the activity.

ICICI Bank is India's second–largest bank with total assets of RS. 4,062.34 billion
($91 billion) at March 31, 2011 and profit after tax Rs. 51.51 billion ($1,155
million) for the ICICI Bank is India's second–largest bank with total assets of RS.
4,062.34 billion ($91 billion) at March 31, 2011 and profit after tax Rs. 51.51
billion ($1,155 million) for the year ended March 31, 2011. The Bank has a
network of 2,535 branches and 6,810 ATMs in India, and has a presence in 19
countries, including India. ICICI Bank offers a wide range of banking products and
financial services to corporate and retail customers through a variety of delivery
channels and through its specialized subsidiaries in the areas of investment
banking, life and non–life insurance, venture capital and asset management.

Objective of ICICI Bank: -

ICICI Bank's Green initiative is to make healthy environment in the organization

i.e.; to create intrapersonal skills among the customer and understanding between
employees of the organization.

37
Broad objectives of the ICICI are:

1. to assist in the creation, expansion and modernization of private concerns;

2. to encourage the participation of internal and external capital in the private

concerns;
3. to encourage private ownership of industrial investment.

Credit rating

On account of the growing concerns over India's sovereign debt ratings, credit
ratings agency Moody's lowered the ratings for ICICI Bank

Products /Pockets by ICICI Bank

In September 2013, ICICI Bank launched a one of its kind app on Facebook
'Pockets by ICICI Bank' to enable customers to carry out a wide range of
financial transactions on Facebook Customers can access the ICICI Bank app by
logging into their Facebook account and then going to the official ICICI Bank
Facebook page, and clicking on the tab for Pockets by ICICI Bank. The customer

38
then registers online with their debit card number and PIN, and selecting a new
four digit PIN for subsequent logins. Through the app, customers can make
payments to friends, recharge prepaid mobile and book movie tickets. One can also
carry out non-financial transactions such as accessing a mini statement of their
savings bank account, getting demat holding statements, opening fixed or recurring
deposit, order a cheque book, stop a cheque payment, upgrade debit card, among
others.

Some of the key features of 'Pockets by ICICI Bank' are:

Split n share: It allows customers to split and track group expenses and share them
with friends on Facebook. The app also gives the customer the option of sending
messages to remind friends on pending payments.

Pay a friend: It allows customers to transfer funds to their friends without knowing their
bank account details like account number, bank branch, branch IFSC code etc. Through
this facility, customers can create electronic coupons that can be redeemed by their friends
on the bank website ICICIbank.com

a) My Savings Rewards

ICICI Bank has rolled-out the programme 'My Savings Rewards' from 1
September 2012, where reward points are offered to individual domestic
customers for a variety of transactions done through the savings bank
account. Reward points are offered automatically to customers for activating
Internet banking, shopping online/ paying utility bills with Internet banking
and auto-debit from savings account towards equated monthly instalments
for home/ auto/ personal loan/ recurring deposit. Customers are required to
maintain a monthly average balance of 15,000 or more.

b) I Wish- the flexible recurring deposit

I Wish is a flexible recurring deposit product launched by ICICI Bank for

its savings account customers. Unlike a traditional recurring deposit, I Wish
allows customers to save varying amounts of money at any time of their

39
 choice. Customers can create several goals and track their progress on an
online interface.

ICICI Bank has developed this product in collaboration with Social Money.

c) Go Green Initiative

The Go Green Initiative is an organization wide initiative that moves

beyond moving people processes and customers to cost effective automated
channels to build awareness and consciousness of our environment, our nation
and our society.

40
 d) Instabanking

It is the platform that brings together all alternate channels under one
umbrella and gives customers the option of banking through Internet banking,
I-Mobile banking, IVR Banking.

Challenge faced by ICICI bank in e-banking services:

E-banking is facing following challenges in ICICI bank:

The most serious threat faced by e-banking is that it is not safe and secure all the
time. There may be loss of data due to technical defaults.

E-banks are facing business challenges. For the transactions made through internet,
the service charges are very low. Unless a large number of transactions are routed
over the Web the e-banks cannot think of profit.

There is lack of preparedness both on part of banks and customers in the adoption of
new technological changes.

There is lack of proper infrastructure for the installation of e-delivery channels.

With a chain of more than 65,000 branches, Indian Banking system is one of the
largest banking networks in the world.

41
Continuous deregulation has made the banking market extremely competitive with
greater autonomy, operational flexibility and decontrolled interest rate and
liberalized norms for foreign exchange.

Marketplace has been redefined with new rules.

Investing in state-of-the-art technology as the backbone to ensure reliable service

delivery.

Innovating products to capture customer ‘mind share’ to begin with and later the
wallet share.

Implementing organization wide initiatives involving people, process and

technology to reduce the fixed costs and the cost per transaction.

The banks need some transformation initiatives in various fields for the emerging
challenges. These initiatives include areas like; Strategy, Brand, Organization
Restructuring, Re-engineering of the key business processes, Cost efficiency, Right
Sizing and matching of skills, creating a high performing organization, change
management and creating a new mind set.

42
IT INITIATIVE IN ICICI BANK:

The digital age can be seen entering in every possible facet of life and business.
The banking industries are witnessing a new way of doing business. ICICI bank is
India’s second largest bank which is fully private. ICICI banks internet banking
portal is online that provides safe online banking and personal banking services
that can be availed at the comfort of home or office. The application is developed
using latest cutting-edge technology access to banking services.

Internet banking services of ICICI bank are gateway to net savvy customers.
According to the Annual Report 2016-17 ninety four percent of transactions that
may be financial or non-financial are done through E-Banking by saving account
customers of the bank.

E-Banking is convenient to the customers as they do not have to be inline rather,

they are online. ICICI has developed its online sendees with the most recent
technological advancement in the current scenario so as to provide best sendees to
the customers at a click.

Customers using online banking of ICICI are at an advantage as banking is provided

anytime, anywhere and real time updates are available for transactions.

ICICI was the first bank in INDIA to start electronic banking in the year 1998. It
enables the client with “anywhere and anytime banking”. Banking is available to
them for 24X7 hrs. Bank provides various banking and financial services to all its
customers they are retail or corporate customers or NRI customers.

Some of the IT initiative of the Bank are:

Mobile Banking

Digilocker

43
Software Robotics or Robotic Process Automation

Touch Banking

Launched Initiative for Women

ICICIBANKPAY on Twitter

Blockchain Technology

Digital Villages

EAZYPAY

ATM (Automated Teller Machines)

Cards

Cardless Cash Withdrawal

Prepaid Mobile Recharge

Fund Transfer

MOBILE BANKING:

ICICI has been a pioneer in technological innovations in the industry' - internet

banking, mobile banking etc. ICICI started mobile banking - A new innovation in
banking, so that most of the internet banking transaction can be done on mobile
phones in the year 2008. ICICI bank was given best bank award for initiative in
mobile payments and banking by 1DRBT on 18 May, 2009mobile bank services
work with almost all types of handsets.

Mobile banking is focusing area of all banks. Mobile banking is s boon in this
competitive world. It provides another channel for banking services. In emerging
economy m- banking can be seen as a symbiosis of technology and financial

44
services. Mobile phones are cheaper than a laptop, so are affordable by majority
of people and make it all the most popular medium of banking. As popularity of
mobile phone is increasing day by day so banks also didn’t wanted to miss this
golden opportunity and launched banking services on mobiles. In the past three
years, number of people using mobile phones has increased at least four limes as
compared to the use of debit and credit cards holders. ICICI banked on this
mobile banking potential Mobile banking facility provides the convenience to the
customers to carry out banking transactions using mobile device such as a mobile
phone.

M banking revolutionaries’ banker - customer relationship in these places.

Moreover, all over India the fact that mobile phones are affordable by majority of
people it makes it the most popular medium of banking. Mobile banking is
extremely easy and inexpensive to implement and cost of operation is also
reduced

Services:

A. I mobile

B. Pocket Wallet

C. SMS Banking

D. DMRC MetroCard Recharge

E. Call To Pay

F. dial *99 (NIJUP)

A. I Mobile:
Is the ICICI mobile banking application that allows customers to use it in a
manner similar to the internet banking. This facility is offered free of
charge. Android, iOS, Windows & Blackberry mobile users can use I
mobile facility. Over 165 banking and informational services are offered
by ICICI bank on this I mobile app.

USING I MOBILE APPLICATION OF ICICI BANK:

45
First the saving bank customers need to register their mobile no on M-banking
and should have GPRS enabled on their mobile device then the I mobile
application need to be downloaded and simply the customer need to activate
his mobile number. After verification by the bank the customer can
successfully login and can use I-Mobile. Now I-mobile has new updated
features where the customer can upload their photo which will be displayed on
dashboard on login and many advance features are also available. I-Mobile
smart keys:

Bank started a service using a smart phone keyboard named I-Mobile.

Through Smart keys payments can be made quicker and easier. To transfer
funds instantly no need to switch between applications. In this application
payment can be made while chatting also. This feature is available on i phone
5 and above OS version iOS 8. Users would be able to make payments on any
mobile application such as messenger, chat e-mail, games or search browser
without exiting from their current application. Through this application
customers could transfer money to their registered beneficiaries, pay their bills
and recharge their phones

I Mobile Chatbot- is India’s first Artificial Intelligence banking services. ‘I-

Mobile

Chatbot’ is a service through which customers can perform various banking

transactions by chatting even though there is no human present on the other
side.

Positive Pay -is a service available through I-Mobile application. The

customer can upload all details of the cheque being issued along with its
image before handing it over to the beneficiary.

B. Pocket Wallet:

Mobile phone is being used not just for phone but also for it is a watch, a
diary, an alarm clock, a personal computer and, now, a wallet. So, banks are
also rushing to make mobile a wallet Penetration of mobile phone is in every
field and so ICICI bank also introduced Pocket Wallets for its users first of
its kind introduced by the bank. The most striking and interesting feature of

46
 this wallet that not only ICICI bank customers can use it but customers of
any bank can download use it instantly. In February 2015, ICICI Bank
started electronic wallet named pockets enable users to instantly send request
money to any email id, mobile number, bank account etc. Through this visa
powered wallet customer of any bank can use to recharge mobile, send
money, shop anywhere, pay bills and much more. Users can transact on any
website or mobile application in India by using powered wallet customer.
Physical shopping card is available on pocket wallet this physical card can be
used to shop on any website or retail store. The digital wallet that is pockets
can be upgraded to a zero-balance saving account known as pocket saving
account through the pockets app. As of March 2017, pocket wallet has been
over 6.2 million downloads

C. SMS BANKING: -

To use SMS banking service of ICICI customer does not need a smart phone
or a data plan activated on mobile phone. Through SMS banking services
one can recharge any phone, broadband alerts and request can be send like
customer can view last five transactions view due date of payment of credit
card.

D. DMRC METROCARD RECHARGE: -

DMRC Metro card users have the facility to recharge their metro cards
instantly without queuing up at stations. Batik has started recharge facility
through m rupee outlets of M.MPL (A subsidiary of Tata Teleservices
Limited) in Delhi & NCR region.

E. CALL TO PAY: -
As the name implies just by giving a simple phone call to the bank utility bills
will be paid. Any prepaid mobile can be recharged by using this service.

47
F. Dial *99# (NUP): -

To access account on a mobile that does not have an internet access or is not
a smart phone this service can be used. ICICI bank provides National
Unified USSD platform that is NUUP through this fund can be easily
transferred and queries such as account balance and mini statement would be
solved. To use this service user just has to dial *99# from their mobile and
can easily access their account. User just has to enter an IFSC code.

CHAPTER II:-RESEARCH METHODOLOGY

2.1. Statement Of Study: -

At the juncture of deep economic crisis in 1991, the government of India

introduced comprehensive economic reforms. The banking reform was
integral part of these comprehensive economic reforms. As banking sector
opened after the liberalization in India and several banks and non-banking
financial institutions were newly entered in financial market. Because of
the financial reforms, entry of new financial player and expansion of
branches of existing banks, entire banking sector is now facing cut throat
competition. To survive in such a competitive age, the retention of
customers has great significance.
Retention of customer depends on diversified financial services with high
level of customer satisfaction. As customer expectations from banks are
increasing, the banking industry face challenges to retain and satisfy the
customers. Consequently, it becomes essential to test, performance and
customer satisfaction ICICI banks.

48
2.2. Significance Of Study: -

The study focuses on comparative analysis of ICICI banking services and

commitments identifying the strengths, service gap and weaknesses of
ICICI bank
It is useful to evaluate and predict the customer satisfaction for ICICI
bank, effectively by understanding the customer expectations.
The findings may help the researcher as well as banks, to develop new
ideas, techniques, plans and methods in respect of the efficient and proper
means and ways to satisfy their customer ensuring improved service
quality with better customer relationship management practices.
The present study will put light on many neglected aspects. Suggestions
based on the facts will help banks to improve their performance in future.

2.3. Scope Of Study: -

The research is based on the customer’s awareness regarding e banking

services. The research deliberates the estimation of the customers
regarding the e-banking services provided by the designated banks and the
potentials of the e-banking services in the area of reliability,
receptiveness, security, easy use, convenience and proficiency. Also, the
research examines the problems faced by the customers while using the e-
banking services.
The research appraises the association between the actions assumed
through e-banking services by the customers, the potentials of e-banking
services and the problems of e-banking services. The researcher has taken
ATM/debit card, credit card, mobile banking, online banking and Tele
banking as e banking services which is used by customers for numerous
purposes of services like mobile recharge, payment of telephone bill,
electric bill, money transfer, railway ticket booking, air ticket booking,
filing of tax returns, investments etc.

49
 The researcher also examines the difficulties of the defendants while
availing the e-banking services

2.4. Objective of study: -

1. To estimate the customer awareness on E banking usage

2. To know about the e banking services provided by ICICI bank

3. To analyse and compare the level of customers satisfaction towards E

banking services of ICICI bank
4. To know the problem faced by customers in E banking

5. To determine the satisfaction level of people

6. To comprehend the issues that individuals have when utilizing e-

banking services (ATM, Mobile Banking, etc.)

2.5. Data Collection

This research study is descriptive in nature, and in order to collect data, both
primary and secondary sources were used in the study to meet the research
objectives.

2.6. Source of Data

The primary data of this research collected through a questionnaire.

Google form is platform were used to collect data from salaried people.
For secondary data many websites were referred.

2.7. Sampling frame work

Area of research - This research is done within areas of Mumbai city

Sample size - Sample size of my research is 108

Sampling method - Probability sampling: Probability sampling is a

sampling technique where a researcher sets a selection of a few criteria and

50
 chooses members of a population randomly. All the members have an equal
opportunity to be a part of the sample with this selection parameter.

2.8. Limitation of Study

1. Because of time and other constraints in this survey it would not be

possible to contact each and every branch of ICICI whose responses
would have 108 provided a better insight regarding customers
preferences regarding bank services.
2. Purpose of research is limited to study customers preferences and
likings on banking services of Mumbai city only.
3. Lack of some customers and employees’ interest to fill up
Questionnaire.

4. Limited sample size

Chapter No III- Review of Literature.

Madhava K (2020)

A try has been made by evaluating the

services concentrated by banks through the e-
banking services. The e-banking service carries
lot of convenience, customer centricity, increased
service quality and cost effectiveness. This paper
scrutinizes the patron satisfaction on the
Electronic Banking Services of Public Sector and
Private Sector Banks Puducherry Region. The
model size of the study is 478, the data is
assembled from both the primary and secondary
information. The outcome of the learning shows
that customers of Public Sector Banks have lesser
perception of the various dimensions of e- service
quality compared with the private sector Banks.

51
This paper recommends that the wider use of ICT
based applications in banking services will make
better banking solutions.

Surabhi Singh (2017)

He examines in his study that, the present

examination was intentional with the objective to
assess the degree of use of services especially the
IT enabled services in these banks and to analyse
the component factors affecting client satisfaction
with the quality of services. The study was
conducted in public, private and foreign banks of
Delhi. Multistage random sampling is used for
sampling. It was proposed to conduct the study in
five areas of Delhi such ass East, West, North,
South and Central Delli in Delhi. One of the
above bank branches in each region of Delhi will
be randomly selected. While choosing a branch,
we pay attention to provision of at least 5 IT
support services. This step is compared to Intra
Bank. Survey shows that the clients of
nationalized banks are dissatisfied with the
behaviour and infrastructure of their employees,
while respondents of private and foreign banks
dissatisfied with high prices, accessibility and
communication.

Sawant K (2016)

This study was assumed by customers of two

local and foreign banks in Oman. An effort has
been made to learn and analyse the important
factors affecting the service quality of banks in
Oman. The major discoveries of the study are the

52
 level of customer satisfaction of local banks is
better than the foreign banks in Oman. The
eminence of service provided by local banks is
better than foreign banks.

Madhava K (2020), A try has

been made by
evaluating the services
concentrated by banks
through the e-banking services.
The e-banking
service carries lot of convenience,
customer
centricity, increased service
quality and cost
effectiveness. This paper
scrutinizes the patron
satisfaction on the Electronic
Banking Services of
Public Sector and Private Sector
Banks in

53
Puducherry Region. The model
size of the study is
478, the data is assembled from both
the primary and
secondary information. The
outcome of the learning
shows that customers of Public
Sector Banks have
lesser perception of the various
dimensions of e-
service quality compared with the
private sector
Banks. This paper recommends that
the wider use of
ICT based applications in banking
services will make
better banking solutions
Madhava K (2020), A try has
been made by

54
evaluating the services
concentrated by banks
through the e-banking services.
The e-banking
service carries lot of convenience,
customer
centricity, increased service
quality and cost
effectiveness. This paper
scrutinizes the patron
satisfaction on the Electronic
Banking Services of
Public Sector and Private Sector
Banks in
Puducherry Region. The model
size of the study is
478, the data is assembled from both
the primary and
secondary information. The
outcome of the learning
55
shows that customers of Public
Sector Banks have
lesser perception of the various
dimensions of e-
service quality compared with the
private sector
Banks. This paper recommends that
the wider use of
ICT based applications in banking
services will make
better banking solutions
Madhava K (2020), A try has
been made by
evaluating the services
concentrated by banks
through the e-banking services.
The e-banking
service carries lot of convenience,
customer

56
centricity, increased service
quality and cost
effectiveness. This paper
scrutinizes the patron
satisfaction on the Electronic
Banking Services of
Public Sector and Private Sector
Banks in
Puducherry Region. The model
size of the study is
478, the data is assembled from both
the primary and
secondary information. The
outcome of the learning
shows that customers of Public
Sector Banks have
lesser perception of the various
dimensions of e-
service quality compared with the
private sector
57
Banks. This paper recommends that
the wider use of
ICT based applications in banking
services will make
better banking solutions
Daniel (1999)
According to his research, e-banking as the newest delivery channel offered by
the retail banks in many developing countries. The researcher through a
questionnaire found that 25% banks in the UK were those already providing e-
banking services, 50% banks were testing or developing such services while 25%
were not providing any e-banking services. To make services more adaptable,
customers should be providing maximum choice and convenience.

Neeli S Prameela (2012)

According to her research, Service quality is an input of customer trust which
becomes satisfaction and lead to loyalty as an output. But This paper attempts to
accumulate literature in order to understand the overall structure of the formation of
loyalty. The literature reviewed provide underlying patterns of relationships
between e – banking loyalty and its influencing factors. Such understanding is
relevant for academicians and researchers for furthering the work in this field.

Mr. Talwar (1999)

According to his research, IT Revolution in banking sector which had not only
provided improved service to the customer, but also reduced the operational cost.
The author brought out that computerization of banks, introduction of Real Time
Gross Settlement System, setting up of Infinite, Electronic Payment Products (such
as Electronic Clearing Service) had ensured better resource management, systematic
efficiency and substantially reduced inter-branch reconciliation entries. However,
fear of hacking, tampering of data, secrecy maintenance were certain issues which
pose threats on usage 44 of electronic banking. The challenges in banking sector
were manifold but still the constitution of National Payment Council by RBI and

58
development of the integrated payment and settlement system was a step in this
direction to remove the obstacles coming in the way of using electronic banking.

Unninthan (2001)
According to author described the impact of e-banking adaptation on
Australian and Indian banking sectors with the help of qualitative and quantitative
analysis. The researcher found that Australia had a strong platform for e-banking
growth with 37.7 per cent of population willing to engage in e-banking mostly in
urban areas due to literate young working population with discretionary income.
However, India by comparison was played by weak infrastructure, low PC
penetration and consumer reluctance in rural sector. But the professionals are
compelling the government and bureaucracy in the country to support and develop
new initiatives at a faster speed of internet banking. However, in both the countries,
e-banking was a successful strategic weapon for banks to remain profitable in a
volatile and competitive market place.

Singh and Malhotra (2007)

According to his research made an attempt to discover factors affecting a

bank’s decision to adopt internet banking in India. The study was based on 88 banks
comprising of public, private and foreign banks covering financial years from 1997
to 2005. The results of the study showed that large banks having high fixed
expenses, high income and expenditure tend to use more technology. Banks had
used internet banking as complementary channel to existing branch network.
However, the private and foreign banks were quick adopter to internet banking than
public sector banks. The adoption of this innovation by other banks increases the
probability that a decision to adapt will be made as it has increased the profitability
and productivity of banks.

59
 CHAPTER NO. IV - DATA
ANALYSIS & FINDINGS

Gender

Name Number

Male 65

Female 43

Total 108

Interpretation: -The result shows that majority of respondents 60.2 % are males
where using the E-banking services and 39.8 % are the male are using E-banking

60
services. male is not using more this service because they prefer traditional
banking services. So, it shows that E-banking is more famous among male.

Age group

Age Group Number

Under 18 4

18-25 years 24

25-35 years 53

35– 50 years 26

50 Above 1

Total 108

Interpretation: - The result shows that of respondents 2.8 % falls under the category of
under 18 years and 23.1% falls under age 18 - 25 years and 49’1. % Fall in above 26 - 35

61
years and 24.1% fall under 35- 50 and 0.9 % fall under 50 above it shows that E-banking is
mainly famous among youngsters as they are the major users of E-banking and least comes
under above 50years.

Education qualification

Education qualification Number

SSC 7

HSC 18

GRADUATION 74

PG 9

Total 108

Interpretation: -The result shows that the majority of respondents 68.5% are Graduate,
16.7% are HSC, 10.2% are SSC, 6.5% are post graduate.

62
 Occupation

Education qualification Number

Student 16

Employee 64

Business 23

Professional 5

Total 108

Interpretation: - The result shows that the majority of respondent 59.3 % are
employed,4.6% are professional, 21.3% are businessmen, there are 14.8% student.

63
 Do you have any bank account?

Yes 104
No 4
Total 108

Interpretation: -According to this study majority of respondents 96.3% have their bank
accounts and 3.7% don't have any bank account. Because some of them are not aware
about banking services.

64
Are you aware about e-banking?

Yes 104
No 4
Total 108

Interpretation: - The study shows that 96.3% peoples are

aware about e-banking & 3.7% people are not aware about e
banking Because some of them are still using traditional
banking services & some of them does not trust e banking
services.

65
Are you user of E banking?

Yes 104

No 4

Total 108

Interpretation: - The results show that 96.3% respondents who are aware of e banking
service and 3.7% respondent are not availing E-banking services yet they are not aware of
E-banking the reason is that they still have faith in traditional banking.

66
Which type of e banking service You used?

Mobile Banking 36

NEFT 10

RTGS 8

IMPS 6

UPI 44

Total 104

Interpretation: - The result show that 42.4% of responded use mobile banking service,
11.8% of respondent use NEFT, 9.4%, respondents use RTGS, 7.1% respondents use IMPS
& 51.8% respondents use UPI.

67
How often do you use E Banking service?

Everyday 24

Weekly 56

Monthly 24

Yearly 0

Never 4

Total 108

68
 Interpretation: – According to survey majority of respondents 53.7% use e-banking
services weekly, 22.2% of them use every day,22.2% of respondents use e banking
service monthly, & 2.0% of respondents never use e banking service because they are not
aware about e banking services.

Which type of bank account you have in ICICI bank?

Current 49

Saving 43

Fixed Deposit 12

Recurring Account 0

Total 104

69
 Interpretation: - The result shows that majority of
respondents i.e. 41.3.% have saving account & 47.1% of
them have current account because some of respondents are
businessmen.11.1% have fixed deposit account.

Do you feel e-banking is safe?

Yes 98

No 6

Total 104

70
 Interpretation: - The survey shows that most of respondents. 94.2%feel that banking is
safe & 5.8.% respondents feel that e-banking is safe because of hacking, security &
technology issues

Do you prefer E-banking services?

Convenient 21

Time saving 26

Safe and secure 21

71
 Cashless 26

Easy to access 10

Total 104

Interpretation: - According to study 21% user choose e-banking services because of

24-hour access to account, 26% user choose to save time and 21% users choose safe
and secure for privacy reasons,26. % choose cashless service because cash free
transactions and 10% users choose easy to access because it is convenience to all.

Do you think that ICICI bank is offering innovative e banking service?

Yes 101

No 3

Total 104

72
Interpretation: - The study shows that most of 97.1% responded think that ICICI bank
provide more innovative service. Whereas 2.9% respondents feel that ICICI bank is not
offering innovative services to customers.

Rate your banks e-banking services?

Excellent 40

Good 48

Average 12

Below average 6

73
 Poor 0

Total 104

Interpretation: - According to study 38.5% users rate excellent to ICICI, bank.46.2% users
rate good, 11.5% rate average & 3.8% rate below average.
The most people give Good because of the new innovative offers of e-banking product
provide by the ICICI bank.

What aspects of ICICI Bank's e-banking services do you find most convenient?

User interface 18

Transaction speed 30

Security features 21

74
 Account management options 22

Customer support 8

Total 104

Interpretation: - The study shows 18.2% people will be satisfied with user interface,
30.3%people say transaction speed of bank are satisfying,21.2% people will happy with
their security features,22.2% people impress with account management options and 8.1%
there are remaining people which will say a customer service was good of ICICI bank.

Would you change your bank because of poor quality of e-banking service?

Yes 10

No 94

75
 Total 104

Interpretation: - The survey shows 90.4% people will not to change their bank because
they get quality in the bank, remaining 9.6% would have to change their bank because
they will be facing some technical issues with their account.

Are you satisfied after using e-banking service?

Yes 98

No 6

76
 Total 104

Interpretation: - According to study Most of respondents 94.2% are satisfied after using
e-banking services, & 5.8% respondents are not satisfied after using E- banking service,
because they face some difficulties while using E services.

Can customers use ICICI bank e-services to transfer funds internationally?

Yes 94

77
 No 10

Total 104

Interpretation: - The result shows 90.4% people will say ICICI bank will transfer fund
to internationally and 9.6% people will be facing some issue either they will not
comfortable to use E-banking services at international level

Finding

78
The contours of banking business have been changing across the globe and the rippling
effect of the same can be expressed in the Indian banking sector as well. The process of
liberalization, privatization, globalization and deregulation has opened new vistas for banks
to increase their revenues by diversifying in to universal banking, investment banking, bank
assurance, mortgage financing, depository services, securitization, personal banking etc. An
inevitable result of globalization is that it increases the soundness of financial system as a
whole and facilitates global competition. To survive in this competition the information and
communication technology significantly contributed to the exponential growth and profit of
financial institutions worldwide Technology is the key to move towards providing
integrated banking services to customers.

Indian banks have been late starter in the adoption of technology for automation of
processes and the integrated banking services. 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. There are
various factors which have played vital role in the Indian banking sector for adoption of
technology. Firstly, the economic reforms introduced by the government almost 15 years
back which resulted in opening up of new vistas for banks outside the world Government
relaxed rules and regulations and simplified the processes for the FII to make investment in
the banking and various sectors. This resulted in inflow of large funds in the economy there
by improving the economy as a whole and banking sector in particular. Due to this reason
banks need to provide such services, which satisfy the urge of foreign investors. Secondly,
as a part of reforms, Indian banking was opened for private sector by which old and new
private sector came in to limelight. They give a big boost to technology and created a
platform to use it for back side and front side operations. When they started adopting it, this
put a tremendous pressure on the nationalized and public sector banks. Thirdly for the
economic development of a country, infrastructure plays a vital role. In the last few years
with the development of telecom sector, communication infrastructure,
BPO’s; the entire country became a single hub for transmitting the information and the
major cities got connected with each other, which helped in the reduction of total cost.

This had directly helped banks; during the same period banks were busy in connecting their
branches with centralized database and core banking solution by offering anywhere anytime
services. Fourthly Indian software Industry has also impacted the Indian banking sector. To

79
provide excellent services to the customers, banks do need to have web-based portals wide
area network (WAN), local area network, internet etc. and all these services are provided by
the Software industry to Indian banking at reasonable prices and at the right time. 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 the banking sector in India
has introduced e-banking in a phased manner, foreign banks are the pioneers in e-banking
private bank introduced in big way and public sector banks are in the process of
transformation from traditional banks to e-banking, impinges on operational of banking in a
number of different ways. It has enabled the banks to handle the payments electronic and
interbank settlement faster and in large volume. There is increase in customer satisfaction
level, reduction in cost of banking operation, e-banking services which could enhance their
completeness. Further new technology has rapidly altered the traditional ways of customer
can view the account, get account statement, phone banking, internet banking, mail banking
transfer to large extent avoid customers gains to branch premises and has provided a wide
range of services to the customer There is a degree of variation in the services provided by
the banks with the emergence of E-banking services. So, it becomes necessary to study the
nature, growth and extent of E-banking services and their impact on the operational
performance and service quality. Despite the increasing importance of E-banking services,
the research pertaining to e-banking in Indian context has been limited. So, the present study
is a modest attempt to ascertain the changes taking place after e-banking, to evaluate the
banks performance, and to know about customers’ perceptions regarding e-banking.

Chapter No. V – Conclusion, Suggestion

80
E-Banking may be cost- effective, but it’s unlikely to replace branch banking because of
security concerns. In the early days of the dotcom revolution there was much hypo about
emergence of online banking as the future of retail banking and gradual obsolescence of
branch banking. However, with the passage of time, through online banking has changed the
delivery landscape, it has so far been more of an evolution rather than a revolution.
Consumers banking online have not altogether banded the conventional branch banking.
Many consumers use online banking primarily for relatively simple transaction such as
accessing account statement and account balance and interaction for opening accounts.

Every employee of ICICI who interacts with the customer is involved in services delivery.

Whatever they do or don’t do becomes part of the customer experience. services to be

provided helps your employees understand what is expected of them and how they are to
engage with customers. It ensures that services delivery is consist, regardless of which
employee delivers the services.

From a e-banking perspective, there has been a renewed Vigor towards innovations for
improving branch banking operations. However, from the customer perspective, the whole
feeling of comfort, confidentiality and security in branch banking is as important as it ever
was and likely to remain so in the future. Even if they never set foot in a branch, most
customers want to know that a banker is nearby if they need to speak to someone in person
about their account. Over a period of time branch banking has gone through a
metamorphosis of it identify as the human face of e-banking the place where customers go
for information and advice on new financial products and on managing their existing
accounts.

Innovation in product includes e-banking, ATM, debit card, credit cards mobile banking etc.
whereas innovation in branches includes, universal banking. Offshore banking, retail
banking wholesale banking

The project report summarizes about the facilities of accounts and deposits and also
provides the different product. This information is based on the primary and secondary data
available from different sources.

81
 Suggestion

A suggestion is a place where you may provide further comments, questions, or requests
that can benefit you with future projects. Some recommendations may prove to be
extremely useful in bringing about favourable changes in future study. These suggestions
are based on the researcher's experiences and the comments of the respondents.

Suggestions for research

A suggestion is a spot where you may leave further feedback,

questions, or requests that can help you with future projects.
Some of the suggestions could be highly valuable in bringing
about positive improvements in future research. These
recommendations are based on the researcher's personal
experiences as well as the feedback from the respondents.
A consumer expects a timely answer to any inquiry or
clarification, and ICICI, as a private sector company, is
committed to providing the fastest possible response to
customers in order to assist them and provide effective
service.

82
 ANNEXURE

GEN
DER

M
a
l
e

F
e
m
a
l
e

AGE
GRO
UP

Under
18
18 - 25
years
26 -
35
years

83
 36 –
50
years
Above
50
years

Educa
tion
qualifi
cation
SSC

HSC

Graduation

PG

Occupation

Student

Employee

Business

Professional

1. Do you have any bank account?

Yes
No

2. Are you aware about e banking?

84
 Yes

No

3. Are you user of E banking?

Yes
No

4. Which type of e banking service You used?

Mobile Banking
NEFT
RTGS
IMPS
UPI

5. How often do you use E Banking service?

Everyday
Weekly
Monthly
Yearly
Never

6. WHICH TYPE OF BANK ACCOUNT YOU HAVE IN ICICI BANK ?

Current
Saving
Fixed Deposit
Recurring Account

7. Do you feel e-banking is safe?

Yes
No

8. Do you prefer E-banking services?

85
 Convenient
Time saving
Safe and secure
Cashless
Easy to access

9. Do you think that ICICI bank is offering innovative e banking service?

Yes
No

10. RATE YOUR BANKS E-BANKING SERVICES?

Excellent
Good
Average
Below average

11. What aspects of ICICI Bank's e-banking services do you find most convenient?

User interface

Transaction speed

Security features

Account management options

Customer support

12. Would you change your bank because of poor quality of e-banking service?
Yes
No

86
13. Are you satisfied after using e banking service?
Yes
No

14. Can customers use ICICI bank e-services to transfer funds internationally?
Yes
No

BIBLIOGRAPHY

Books:

87
Research and Methodology – C.R. Kothari 2nd edition – New Age

International

Journal of banking and finance – carol alexander

Banking on knowledge- -stone, D – The genesis of the global development network

E-Banking Management-Mahmood shah and Steve clerk- Management issues
solutions and strategies
E-Banking and the development of banks- S.B.Verma, S.K.Gupta, M.K.Sharma
E-Banking in India - R.K.Uppal and Rimpi jatana- Challenges and opportunities
Electronic Financial Services – Hakman. A. Wan – Technology and Management

Webliography

www.ICICIbank.com

www.studymode.com

www.shodhganga.inflibnet.ac.in

www.businessjargons.com

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