Changing Technology & Customre Awareness of HDFC BANK

8/11/2019 Changing Technology & Customre Awareness of HDFC BANK

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SUMMER TRAINING PROJECT REPORT ON

CHANGING TECHNOLOGY &

CUSTOMER AWARENESS INHDFC BANK

FOR THE PARTIAL FULFILLMENT OF THE REQUIREMENT

FOR THE AWARD OF TWO YEAR FULLTIME MBA PROGRAMME

SUBMITTED TO SUBMITTED BY

Dr. Pooja Bha!"a D!#"a Tr!$ah!H%a'MBA,D%$ar(%) MBA II)S%(

Ro** No. + ,-/01-0

BABU BANARASI DAS NATIONAL INSTITUTE OF TECHNOLOGY

& MANAGEMENT

A2h!*%3h Da3 Mar4' Fa!5a6a Roa' L782)o9

S%33!o) + :,-;:,0

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ACKNOWLEDGEMENT

Atthe very outset I would like to express my sincere gratitude to HDFC BA! "or providing me

with the opportunity to work with them and to undertake this pro#ect on Mar2%!)4 Ma)a4%r@"or

allowing to me to undergo a training session in his 2ranch and gather an in depth knowledge a2out

me "or CHA$I$ %&CH'('$) * C+%'-&. A/A.&& I HDFC BA! He was

supportive throughout the proceeding o" this pro#ect and inspired me all the way

I wish to express my deep sense to gratitude and inde2tedness to Mr. .K.%r(a'my "acultymentor "or providing me all "acilities and constructive criticism, encouragement and parental

guidance my pro#ect work I also wish to thanks him providing me his precious any time I wanted

I am extremely thank"ul to my team mem2er who contri2uted their e""orts and continuous

encouragement in making this pro#ect success"ully

(ast 2ut not the least4 I am extremely thank"ul to my "amily mem2ers and my "riends "or their

constant support and valua2le guidance

I hope I can 2uild upon the knowledge and experience that I have gained here and make a valua2le

contri2ution towards there industry coning in "uture

Divya %ripathi

-BA567189671:;

.oll o,-/01-0 BBDI%, (ucknow

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STUDENT DECLARATION

D!#"a Tr!$ah! student o" -BA at BBDI%- here 2y declare that the pro#ect work

entitled :,-;:,0@

Ro** No+; ,-/01-0

BBDNIT'L782)o9

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PREFACE

%his pro#ect is a part o" the academics carriculum re>uired "or the "ul"illment o" the two

years "ull time programme, pursuing post graduate programme in


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TABLE OF CONTENT

o %'?IC ?age o

1 Introduction '" C'-?A) @

6 Company ?ro"ile

8 Company ?er"ormance 16

: History 18

Chairmans ?ro"ile 1

Awards and Achievements 61

E ?roduct In"ormation 6:

@ .esearch -ethodology :

.esearch Design :

17 '2#ective o" the tudy :@

11 Data Collection * Interpretation 8

16 Findings @:

18 Conclusion @

1: uggestion * .ecommendation @E

1 (imitation @@

1E Bi2liography @


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%he Indian 2anking has come "rom a long way "rom 2eing a sleepy

2usiness institution to a highly proactive and dynamic entity %his

trans"ormation has 2een largely 2rought a2out 2y the large dose o"

li2erali0ation and economic re"orms that allowed 2anks to &xplore new

2usiness opportunities rather than generating revenues "rom conventional

streams 5ie 2orrowing and lending; %he 2anking in India is highly

"ragmented with 87 2anking units contri2uting to almost 7G o" deposits

and 7G o" advances Indian nationali0ed 2anks 52anks owned 2y the

government; continue to 2ethe ma#or lenders in the economy due to theirsheer si0e and penetrative networks which assures them high deposit

mo2ili0ation

%he .eserve Bank o" India acts as a centrali0ed 2ody monitoring any

discrepancies and shortcoming in the system It is the "oremost monitoring

2ody in the Indian "inancial sector %he nationali0ed 2anks 5ie

government9owned 2anks; continue to dominate the Indian 2anking arena

Industry estimates indicate that out o" 6E: commercial 2anks operating in

India, 668 2anks are in the pu2lic sector and 1 are in the private sector

%he private sector 2ank grid also includes 6: "oreign 2anks that have started

their operations in India +nder the am2it o" the nationali0ed 2anks come

the speciali0ed 2anking institutions %hese co9operatives, rural 2anks "ocus

on areas o" agriculture, rural development, unlike commercial 2anks these

co9operative 2anks do not lend on the 2asis o" a prime9lending rate %hey

also have various tax sops 2ecause o" their holding pattern and lending

structure and hence have lower overheads %his ena2les them to give a

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marginally higher percentage on savings deposits -any o" these

cooperative 2anks diversi"ied into speciali0ed areas 5catering to the vast

retail audience; like car "inance, housing loans, truck "inance etc in order

to keep pace with their pu2lic sector and private counterparts, the co9

operative 2anks too have invested heavily in in"ormation technology to

o""er high9end computeri0ed 2anking services to its clients

NEW GENERATION BANKING

%he li2erali0e policy o" $overnment o" India permitted entry to

private sector in the 2anking, the industry has witnessed the entry o" nine

new generation private 2anks %he ma#or di""erentiating parameter that

distinguishes these 2anks "rom all the other 2anks in the Indian 2anking is

the level o" service that is o""ered to the customer eri"y the "ocus has

always 2een centered on the custom understanding his needs, preempting

him and conse>uently delighting him with various con"igurations o"

2ene"its and a wide port"olio o" products and services %hese 2anks have

generally 2een esta2lished 2y promoters o" repute or 2y high value3

domestic "inancial institutions %he popularity o" these 2anks can 2e

gauged 2y the "act that in a short span o" time, these 2anks have gained

considera2le customer con"idence and conse>uently have shown impressive

growth rates %oday, the private 2anks corner almost "our per cent share o"

the total share o" deposits -ost o" the 2anks in this category are

concentrated in the high9growth ur2an areas in metros 5that account "or

approximately E7G o" the total 2anking 2usiness; /ith e""iciency 2eing

the ma#or "ocus, these 2anks have leveraged on their strengths and

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competencies vi0 -anagement, operational e""iciency and "lexi2ility and

superior product positioning

%he private 2anks with their "ocus on 2usiness and service port"olio

have a reputation o" 2eing niche players in the industry A strategy that has

allowed these 2anks to concentrate on "ew relia2le high net worth companies

and individuals rather than cater to the mass market %hese well9chalked out

integrates strategy plans have allowed most o" these 2anks to deliver

superlative levels o" personali0ed services /ith the .eserve Bank o" India

allowing these 2anks to operate E7G o" their 2usinesses in ur2an areas, this

statutory re>uirement has translated into lower deposit mo2ili0ation costs

and higher margins relative to pu2lic sector 2anks


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I)ro78!o) o r%a!* Ba)2!)4

Banking services o""ered to the general pu2lic, .etail 2anking services

are a group o" "inancial services that includes installment loans, residential

mortgages, e>uity credit loans, deposit services, and individual retirement

accounts In contrast with /holesale Banking or corporate 2anking, retail

2anking is a high volume 2usiness with many service providers competing

"or market share ome retail 2anking services, "or example, credit cards, are

among the most pro"ita2le services o""ered 2y "inancial institutions

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Across the glo2e, retail lending has 2een a spectacular in the

commercial 2anking sector, Institution (oans is estimated to have accounted

"or nearly one9"i"th o" all 2ank credit, Housing sector is experiencing a 2oom

in its credit %he retail market has decisively got trans"ormed "rom a sellers

market to 2uyers market

.etail 2anking is 2ecoming an increasingly complex concept to

de"ine /hile pure retail 2anking is generally conceived to 2e the

provision o" mass market 2anking services to private individuals, it has 2een

expanded over the years to include in many cases services provided to small9

and medium si0ed 2usinesses ome 2anks may also include their private

2anking 2usiness 5ie services to high net worth individuals; in their

de"inition o" retail 2anking %he advantages o" a retail "ranchise are

numerousJ

R%a!* 6a)2!)4 !) I)!a

In India, retail 2anking has always 2een prevalent in various "orms

ever since the evolution o" 2anking Co9operative 2anks that have 2een

existence in India "or over a century have always had retail thrust It is only

since the mid nineties that the term retail 2anking has 2een used as a means

o" rein"orcing a conscious "oray into this particular line o" 2usiness .etail

2anking today "or many 2anks is synonymous with mainstream 2anking,with vast sums o" money 2eing invested in creating and sustaining a retail

2rand, "urther supported 2y re>uisite technological and sta""ing support It is

pertinent to ponder a2out the causes o" the shi"t 5or increase; o" "ocus

towards the retail side

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.etail 2anking in India is not a new phenomenon has It always 2een

prevalent in India in various "orms For the last "ew years it has 2ecome

synonymous with mainstream 2anking "or many 2anks

%he typical products o""ered in the Indian retail92anking segment are

housing loans, Consumption loans "or purchase o" dura2les, auto loans,

credit cards and educational loans %he loans are marketed under attractive

2rand names to di""erentiate the products o""ered 2y di""erent 2anks .etail

lending has turned out to 2e a key pro"it driver "or 2anks within the retail

segment4 the housing loans had the least gross asset impairment In "act,

retailing make ample 2usiness sense in the 2anking sector

Factors contri2uting to the growth o" retail 2usiness

Th% ?o**o9!)4 ar% h% ?a8or3' 9h!8h 8o)r!67% o h% 4ro9h o? R%a!*

673!)%33

,. Th% %8o)o(!8 $ro3$%r!" a) h% 8o)3%7%) !)8r%a3% !)

$7r8ha3!)4 $o9%r ha#% 4!#%) a ?!**!$ o a 8o)37(%r 6oo(.

:. Th% 8ha)4!)4 8o)37(%r %(o4ra$h!83 !)!8a% #a3 $o%)!a*

For 4ro9h !) 8o)37($!o) 6oh 7a*!a!#%*" a) 7a)!a!#%*"

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-. Th% T%8h)o*o4!8a* !))o#a!o)3 r%*a!)4 o !)8r%a3!)4 73% o? 8r%!

%6! 8ar3' ATM3' !r%8 %6!3 a) $ho)% 6a)2!)4 ha3

8o)r!67% o h% 4ro9h o? r%a!* 6a)2!)4 !) I)!a

0. D%8*!)% !) !)%r%3 ra%3 ha#% a*3o 8o)r!67% o h% 4ro9h o?

r%a!* 8r%! 6" 4%)%ra!)4 h% %(a) ?or 378h 8r%!

'pportunities and challenges o" retail 2anking in India

R%a!* 6a)2!)4 ha3 !((%)3% o$$or7)!!%3 !) a 4ro9!)4 %8o)o(" *!2%

I)!a.

Th% r!3% o? h% I)!a) (!*% 8*a33 !3 a) !($ora) 8o)r!67or"

?a8or !) h!3 r%4ar. Th% $%r8%)a4% o? (!*% o h!4h;!)8o(% I)!a)

ho73%ho*3 !3 %$%8% o 8o)!)7% r!3!)4. Th% "o7)4%r $o$7*a!o) )o

o)*" 9!%*3 !)8r%a3!)4 $7r8ha3!)4 $o9%r. B7 a3 ?ar a3 a87!r!)4

$%r3o)a* %6 !3 8o)8%r)%' h%" ar% $%rha$3 (or% 8o(?ora6*% ha)

$r%#!o73 4%)%ra!o)3. I($ro#!)4 8o)37(%r $7r8ha3!)4 $o9%r' 8o7$*%

9!h (or% *!6%ra* a!7%3 o9ar $%r3o)a* %6' !3 8o)r!67!)4 o

I)!a3 r%a!* 6a)2!)4 3%4(%).

Th% 8o(6!)a!o) o? h% a6o#% ?a8or3 $ro(!3%3 3763a)!a* 4ro9h

!) h% r%a!* 3%8or'. So(% o? h% 2%" $o*!8" !337%3 r%*%#a) o h% r%a!*;

6a)2!)4 3%8or ar%+ ?!)a)8!a* !)8*73!o)' r%3$o)3!6*% *%)!)4' a) a88%33

o ?!)a)8%' *o)4;%r( 3a#!)43' ?!)a)8!a* 8a$a6!*!"' 8o)37(%r $ro%8!o)'

r%47*a!o) a) ?!)a)8!a* 8r!(% $r%#%)!o).

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R%a!* 6a)2!)4 !3 a 6a)2!)4 3%r#!8% ha !3 4%ar% $r!(ar!*"

o9ar !)!#!7a* 8o)37(%r3. R%a!* 6a)2!)4 !)#o*#%3 9o a3$%83 !.%.

B73!)%33 Ba)2!)4 9h%r% ra)3a8!o)3 ar% 8arr!% o7 9!h !)73r!%3

a) or4a)!5a!o)3' 9h%r% a3 a UTI !)!#!7a* 873o(%r3 ar% h% %)

73%r3 o 9ho( h% I)3!7!o) Loa)3 378h a3 $%r3o)a*' a7o a) ho73!)4

*oa)3 ar% $ro#!%

%ypes o" .etail Banks

1; Commercial 2ankhas two possi2le meaningsJ

Commercial 2ank is the term used "or a normal 2ank to

distinguish it "rom an investment 2ank

Commercial 2ank can also re"er to a 2ank or a division o" a

2ank that mostly deals with deposits and loans "rom

corporations or large 2usinesses,

6; Community development 2ank are regulated 2anks that provide

"inancial services and credit to underserved markets or populations

8; ?rivate Banksmanage the assets o" high net worth individuals

:; avings 2ankaccepts savingsdeposits

o ?ostal savings 2anks are savings 2anks associated with national

postal systems

1:
http://www.answers.com/topic/commercial-bankhttp://www.answers.com/topic/community-development-bankhttp://www.answers.com/topic/private-bankhttp://www.answers.com/topic/savings-bankhttp://www.answers.com/topic/savinghttp://www.answers.com/topic/commercial-bankhttp://www.answers.com/topic/community-development-bankhttp://www.answers.com/topic/private-bankhttp://www.answers.com/topic/savings-bankhttp://www.answers.com/topic/saving


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INTRODUCTION OF E;BANKING

%he world is changing at a staggering rate and technology is considered to

2e the key driver "or these changes around us An analysis o" technology and

its uses show that it has permeated in almost every aspect o" our li"e -any

activities are handled electronically due to the acceptance o" in"ormation

technology at home as well as at workplace lowly 2ut steadily, the Indian

customer is moving towards the internet 2anking %he A%- and the et

transactions are 2ecoming popular But the customer is clear on one thing

that he wants net92anking to 2e simple and the 2anking sector is matching its

steps to the march o" technology &92anking or 'nline 2anking is a generic

term "or the delivery o" 2anking services and products through the electronic

channels such as the telephone, the internet, the cell phone etc %he concept

and scope o" e92anking is still evolving It "acilitates an e""ective payment

and accounting system there2y enhancing the speed o" delivery o" 2anking

services considera2ly everal initiatives have 2een taken 2y the

$overnment o" India as well as the .BI 5.eserve Bank o" India;4 have

"acilitated the development o" e92anking in India %he government o" India

enacted the I% Act, 6777, which provides legal recognition to electronic

transactions and other means o" electronic commerce %he .BI has 2een

preparing to upgrade itsel" as regulator and supervisor o" the technologically

dominated "inancial system It issued guidelines on the risks and controls in

computer and telecommunication systems to all 2anks, advising them to

evaluate the risks inherent in the systems and put in place ade>uate control

mechanisms to address these risks

,., WHAT IS E;BANKING

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&lectronic 2anking is one o" the truly widespread avatars o" &9commerce the

world over arious authors de"ine &9Banking di""erently 2ut the most

de"inition depicting the meaning and "eatures o" &9Banking are as "ollowsJ

1 Banking is a com2ination o" two, &lectronic technology and Banking

6 &lectronic Banking is a process 2y which a customer per"orms 2anking

%ransactions electronically without visiting a 2rick9and9mortar institutions

8 &9Banking denotes the provision o" 2anking and related service through

&xtensive use o" in"ormation technology without direct recourse to the 2ank

2y the customer

NEED FOR E;BANKING

'ne has to approach the 2ranch in person, to withdraw cash or deposit a

che>ue or re>uest a statement o" accounts In true Internet 2anking, any

in>uiry or transaction is processed online without any re"erence to the

2ranch 5anywhere 2anking; at any time ?roviding Internet 2anking is

increasingly 2ecoming a need to have than a nice to have service %he

net 2anking, thus, now is more o" a norm rather than an exception in many

developed countries due to the "act that it is the cheapest way o" providing

2anking services Banks have traditionally 2een in the "ore"ront o"

harnessing technology to improve their products, services and e""iciency

%hey have, over a long time, 2een using electronic and telecommunication

networks "or delivering a wide range o" value added products and services

%he delivery channels include direct dial K up connections, private networks,

pu2lic networks etc and the devices include telephone, ?ersonal Computers

including the Automated %eller -achines, etc /ith the popularity o" ?Cs,

easy access to Internet and /orld /ide /e2 5///;, Internet is

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increasingly used 2y 2anks as a channel "or receiving instructions and

delivering their products and services to their customers %his "orm o"

2anking is generally re"erred to as Internet Banking, although the range o"

products and services o""ered 2y di""erent 2anks vary widely 2oth in their

content and sophistication

HISTORY OF E; BANKING

%he precursor "or the modern home online 2anking services were the

distance 2anking services over electronic media "rom the early @7s %he

term online 2ecame popular in the late @7s and re"ers to the use o" a

terminal, key2oard and % 5or monitor; to access the 2anking system using

a phone line Home 2anking3 can also re"er to the use o" a numeric keypad

to send tones down a phone line with instructions to the 2ank 'nline

services started in ew )ork in 1@1 when "our o" the city3s ma#or 2anks

5Citi2ank, Chase -anhattan, Chemical and -anu"acturers Hanover; o""ered

home 2anking services using the videotex system Because o" the

commercial "ailure o" videotex these 2anking services never 2ecame popular

except in France where the use o" videotex 5-initel; was su2sidised 2y the

telecom provider and the +!, where the ?restel system was used %he +!3s

"irst home online 2anking services were set up 2y the ottingham Building

ociety 5B; in 1@8 5History o" the ottingham .etrieved on 677E9169

1:; %he system used was 2ased on the +!s ?restel system and used a

computer, such as the BBC -icro, or key2oard 5%andata %d1:77; connected

to the telephone system and television set %he system 5known as

Homelink; allowed on9line viewing o" statements, 2ank trans"ers and 2ill

payments In order to make 2ank trans"ers and 2ill payments, a written

instruction giving details o" the intended recipient had to 2e sent to the B

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who set the details up on the Homelink system %ypical recipients were gas,

electricity and telephone companies and accounts with other 2anks Details

o" payments to 2e made were input into the B system 2y the account

holder via ?restel A che>ue was then sent 2y B to the payee and an

advice giving details o" the payment was sent to the account holder BAC

was later used to trans"er the payment directly tan"ord Federal Credit

+nion was the "irst "inancial institution to o""er online internet 2anking

services to all o" its mem2ers in 'ct, 1:

EOLUTION OF E;BANKING

%he story o" technology in 2anking started with the use o" punched card

machines like Accounting -achines or (edger ?osting -achines %he use o"

technology, at that time, was limited to keeping 2ooks o" the 2ank It "urther

developed with the 2irth o" online real time system and vast improvement in

telecommunications during late 1E73s and 1@73sit resulted in a revolution

in the "ield o" 2anking with


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(imited access

!r7a* or E;6a)2!)4

uclear charged

.eal time transactions,

Integrated plat"orm,

All time access

Intense competition has "orced 2anks to rethink the way they operated their

2usiness %hey had to reinvent and improve their products and services to

make them more 2ene"icial and cost e""ective %echnology in the "orm o" &9

2anking has made it possi2le to "ind alternate 2anking practices at lower

costs

-ore and more people are using electronic 2anking products and services

2ecause large section o" the 2anks "uture customer 2ase will 2e made up o"

computer literate customer, the 2anks must 2e a2le to o""er these customer

products and services that allow them to do their 2anking 2y electronic

means I" they "ail to do this will, simply, not survive ew products and

services are emerging that are set to change the way we look at money and

the monetary system

,.: USAGE OF E;BANKING

%he rise in the e9commerce and the use o" internet in its "acilitation along

with the enhanced online security o" transactions and sensitive in"ormation

has 2een the core reason "or the penetration o" online 2anking in everyday

li"e According to the latest o""icial "igures "rom the o""ice o" ational

tatistics 5 ' 677E; indicate that su2scriptions to the internet has grown

more than 7G "rom 6 million in 677 to : million in 677E in India It has

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also 2een estimated that 7G o" the population in India use internet in their

daily lives %he "undamental shi"t towards the involvement o" the customer

in the "inancial service provision with the help o" the technology especially

internet has helped to reduce the costs o" "inancial institutions as well as

helped client to use the service at anytime and "rom virtually anywhere with

access to an internet connection %he use o" electronic 2anking has removed

personnel that "acilitate the transactions and has placed additional

responsi2ilities on the customers to transact with the service %he

computeri0ation o" the 2anking operations has made maximum impact onJ9

1; Internal Accounting ystem

6; Customer service

8; Diversi"ication o" system

INTERNET BANKING ERSUS TRADITIONAL BANKING

In spite o" so many "acilities that Internet 2anking o""ers us, we still seem to

trust our traditional method o" 2anking and is reluctant to use online

2anking But here are "ew cases where Internet 2anking will turn out to 2e a

2etter option in terms o" saving your money

top payment done through Internet 2anking will not cost any extra "ees 2ut

when done through the 2ranch, the 2ank may charge you .s 7 per che>ue

plus the service tax %hrough Internet 2anking, you can check your

transactions at any time o" the day, and as many times as you want to 'n the

other hand, in a traditional method, you get >uarterly statements "rom the

2ank and i" you re>uest "or a statement at your re>uired time, it may turn out

to 2e an expensive a""air %he 2ranch may charge you .s 6 per page, which

includes only 87 transactions -oreover, the 2ank 2ranch would take eight

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A7o(a% T%**%r Ma8h!)% >ATM;J %hese are cash dispensing machine,

which are "re>uently seen at 2anks and other locations such as shopping

centers and 2uilding societies %heir main purpose is to allow customer to

draw cash at any time and to provide 2anking services where it would not

have 2een via2le to open another 2ranch eg on university campus An

a7o(a% %**%r (a8h!)% or a7o(a!8 %**%r (a8h!)% 5ATM; i s a

computeri0ed telecommunications device that provides a "inancial

institutions customers a method o" "inancialL transactions in a pu2lic space

without the need "or a human clerk or 2ank teller 'n most modern A%-s,

the customer identi"ies him or hersel" 2y inserting a plastic A%- card with a

magnetic stripe or a plastic smartcard with a chip that contains his or her

card num2er and some security in"ormation, such as an expiration date or

CC 5C; ecurity is provided 2y the customer entering a personal

identi"ication num2er 5?I;+sing an A%-, customers can access their 2ank

accounts in order to make cash withdrawals 5or credit card cash advances;

and check their account 2alances -any A%-s also allow people to deposit

cash or checks, trans"er money 2etween their 2ank accounts, pay 2ills, or

purchase goods and servicesome o" the advantages o" A%- to customers

areJ9

M A2ility to draw cash a"ter normal 2anking hours

M Nuicker than normal cashier service

M Complete security as only the card holder knows the ?I

M Does not #ust operate as a medium o" o2taining cash

M Customer can sometimes use the services o" other 2ank A%-3s

T%*% 6a)2!)4 or Pho)% Ba)2!)4+ %elephone 2anking is relatively new

&lectronic Banking ?roduct However it is "astly 2ecoming one o" the most

popular products Customer can per"orm a num2er o" transactions "rom the

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convenience o" their own home or o""ice4 in "act "rom anywhere they have

access to phone Customers can do "ollowingJ9

M Check 2alances and statement in"ormation

M %rans"er "unds "rom one account to another

M ?ay certain 2ills

M 'rder statements or che>ue 2ooks

M Demand dra"t re>uest

%his "acility is availa2le with the help o" oice .esponse ystem 5.;

%his system 2asically, accepts only %'& dialed input (ike the A%-

customer has to "ollow particular process, initially account num2er and

telephone ?I are "ed "or the process to start Also the . system provides

the users within additional "acilities such as changing existing password with

the new desired, in"ormation a2out new products, current interest rates etc

Mo6!*% Ba)2!)4+ -o2ile 2anking comes in as a part o" the 2anks initiative

to o""er multiple channels 2anking providing convenience "or its customer A

versatile multi"unctional, "ree service that is accessi2le and viewa2le on the

monitor o" mo2ile phone -o2ile phones are playing great role in Indian

2anking9 2oth directly and indirectly %hey are 2eing used 2oth as 2anking

and other channels I)%r)% Ba)2!)4+ %he advent o" the Internet and the

popularity o" personal computers presented 2oth an opportunity and a

challenge "or the 2anking industry For years, "inancial institutions have used

power"ul computer networks to automate million o" daily transactions4

today, o"ten the only paper record is the customer3s receipt at the point o"

sale ow that their customers are connected to the Internet via personal

computers, 2anks envision similar advantages 2y adopting those same

internal electronic processes to home use Banks view online 2anking as a

power"ul


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helping to eliminate costly paper handling and teller interactions in an

increasingly competitive 2anking environment In India "irst one to move

into this area was HDFC Bank %hey started we2 2ased 2anking as early as

august 1E

,.0 TYPES OF INTERNET BANKING OR E;BANKING

+nderstanding the various types o" Internet 2anking will help examiners

assess the risks involved Currently, the "ollowing three 2asic kinds o"

Internet 2anking are 2eing employed in the marketplace

I)?or(a!o)a*; this is the 2asic level o" Internet 2anking %ypically, the

2ank has marketing in"ormation a2out the 2ank3s products and services on a

standalone server %he risk is relatively low, as in"ormational systems

typically have no path 2etween the server and the 2ank3s internal network

%his level o" Internet 2anking can 2e provided 2y the 2anks or outsourced

/hile the risk to a 2ank is relatively low, the server or we2 site may 2e

vulnera2le to alteration Appropriate controls there"ore must 2e in place to

prevent unauthori0ed alterations to the 2ank3s server or we2 site

Co((7)!8a!#%; this type o" Internet 2anking systems and the customer

%he interaction 2etween the 2ank3s system and the customer %he interaction

may 2e limited to electronic mail, account en>uiry, loan applications, or

static "ile updates 5name and address change; Because these servers may

have a path to the 2ank3s internal networks, the risk is higher with this

con"iguration than with in"ormational systems Appropriate controls need to

2e in the place to prevent, monitor, and alert management o" any

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unauthori0ed attempt to access the 2ank3s internal networks and computer

systems irus controls also 2ecome much more critical in this environment

Tra)3a8!o)a*; this level o" Internet 2anking allows customers to execute

transactions ince a path typically exists 2etween the server and the 2ank or

outsourcer3s internal network, this is the highest risk architecture and must

have the strongest controls Customer transactions can include accessing

accounts, paying 2ills, trans"erring "unds etc

FEATURES OF E;BANKING

Tra)3a8!o)a*+ 5eg per"orming a "inancial transaction such as an account to

account trans"er, paying a 2ill or applications like applying "or a loan, new

account, etc;

M &lectronic Bill ?resentment and ?ayment 5&B??;

M Funds trans"er 2etween customers own checking and savings accounts, or

to another customers account

M Investment purchase or sale

M (oan application and transactions such as repayments

No);ra)3a8!o)a*+ 5eg online statements, Check links, Chat, Co92rowsing

etc;

Financial Institution Administration9 "eatures allowing "inancial institutions

to manage the online experience o" their end users A?O Hosting

Administration K "eatures allowing the hosting company to administer the

solution across "inancial institution

,./ ADANTAGE & DISADANTAGE OF E ; BANKING

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ADANTAGES OF E;BANKING+;

M Co)#%)!%)8%9 +nlike your corner 2ank, online 2anking sites never close4

they3re availa2le 6: hours a day, seven days a week, and they3re only a

mouse click away /ith pressures on time and longer travelling periods,

more and more people "ind it tiresome waiting in >ueues ?eople want

"lexi2ility, and Internet 2anking o""ers #ust that

M U6!7!"9 I" you3re out o" state or even out o" the country when a money

pro2lem arises, you can log on instantly to your online 2ank and take care o"

2usiness, 6:LE

M Tra)3a8!o) 3$%%9 'nline 2ank sites generally execute and con"irm

transactions at or >uicker than A%- processing speeds

M E??!8!%)8";)ou can access and manage all o" your 2ank accounts,

including I.A3s, CDs, even securities, "rom one secure site

M E??%8!#%)%33; -any online 2anking sites now o""er sophisticated tools,

including account aggregation, stock >uotes, rate alert and port"olio

managing program to help you manage all o" your assets more e""ectively

-ost are also compati2le with money managing programs such as >uicken

and -icroso"t money

M Ch%a$%r a*%r)a!#%J 9 /ith increasing competition, it seems to 2e the cost

"actor that is driving 2anks to o""er the "acility %he Internet is still a very

cheap alternative to opening a physical 2ranch, and most o" the push seems

to 2e coming "rom the supply side %he costs o" a 2anking service through

the Internet "orm a "raction o" costs through conventional methods

M Fro( 3)o6 #a*7% o )%8%33!"J; A couple o" years ago, there was a 2elie"

even among 2ankers that customers opening new accounts wanted the online

2anking "acility, #ust to "eel good and very "ew o" them actually used the

services %oday, 2ankers 2elieve that the trend "rom Pnice to have is

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changing to Pneed to have %he sno2 value o" 2anking with an

organisation that could o""er service on the Internet has given way to a

genuine necessity, he "eels It all depends on how 2usy a person is

DISADANTAGES OF INTERNET BANKING

M Sar;7$ (a" a2% !(%9In order to register "or your 2ank3s online

program, you will pro2a2ly have to provide ID and sign a "orm at a 2ank

2ranch I" you and your spouse wish to view and manage their assets

together online, one o" you may have to sign a dura2le power o" attorney

2e"ore the 2ank will display all o" your holdings together

M L%ar)!)4 87r#%39 Banking sites can 2e di""icult to navigate at "irst ?lan to

invest some time andLor read the tutorials in order to 2ecome com"orta2le in

your virtual lo22y

M Ba)2 3!% 8ha)4%3; &ven the largest 2anks periodically upgrade their

online programs, adding new "eatures in un"amiliar places In some cases,

you may have to re9enter account in"ormation

,. HOW E;BANKING CAN EASE YOUR LIFE

Indian 2anks are trying to make your li"e easier ot #ust 2ill payment, you

can make investments, shop or 2uy tickets and plan a holiday at your

"ingertips In "act, sources "rom HDFC Bank tell us, 'ur Internet 2anking

2ase has 2een growing at an exponential pace over the last "ew years

Currently around E@ per cent o" the 2anks customer 2ase is registered "or

Internet 2anking %o get started, all you need is a computer with a modem

or other dial9up device, a checking account with a 2ank that o""ers online

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service and the patience to complete a2out a one9page application9 which

can usually 2e done online )ou can avail the "ollowing services

,. B!** $a"(%) 3%r#!8%J &ach 2ank has tie9ups with various utility

companies, service providers and insurance companies, across the country It

"acilitates the payment o" electricity and telephone 2ills, mo2ile phone,

credit card and insurance premium 2ills %o pay 2ills, a simple one9time

registration "or each 2iller is to 2e completed tanding instructions can 2e

set, online to pay recurring 2ills, automatically 'ne9time standing

instruction will ensure that 2ill payments do not get delayed due to lack o"

time -ost interestingly, the 2ank does not charge customers "or online 2ill

payment

:. F7) ra)3?%rJ Any amount can 2e trans"erred "rom one account to

another o" the same or any another 2ank Customers can send money

anywhere in India ?ayee3s account num2er, his 2ank and the 2ranch is

needed to 2e mentioned a"ter logging in the account %he trans"er will take

place in a day or so, whereas in a traditional method, it takes a2out three

working days HDFC Bank says that online 2ill payment service and "und

trans"er "acility have 2een their most popular online services

-. Cr%! 8ar 873o(%r3J Credit card users have a lot in store /ith

Internet 2anking, customers can not only pay their credit card 2ills online

2ut also get a loan on their cards ot #ust this, they can also apply "or an

additional card, re>uest a credit line increase and $od "or2id i" you lose your

credit card, you can report lost card online

0. Ra!*9a" $a33J %his is something that would interest all the aam #anta

Indian .ailways has tied up with HDFC 2ank and you can now make your

railway pass "or local trains online %he pass will 2e delivered to you at your

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doorstep But the "acility is limited to -um2ai, %hane, asik, urat and

?une %he 2ank would #ust charge .s 17 Q 166: percent o" service tax

/. I)#%3!)4 hro74h I)%r)% 6a)2!)4J 'pening a "ixed deposit account

cannot get easier than this An FD can 2e opened online through "unds

trans"er 'nline 2anking can also 2e a great "riend "or la0y investors ow

investors with interlinked demat account and 2ank account can easily trade

in the stock market and the amount will 2e automatically de2ited "rom their

respective 2ank accounts and the shares will 2e credited in their demat

account -oreover, some 2anks even give the "acility to purchase mutual

"unds directly "rom the online 2anking system o it removes the worry

a2out "illing those 2ig "orms "or mutual "unds, they will now 2e #ust a "ew

clicks away owadays, most leading 2anks o""er 2oth online 2anking and

demat account However i" the customer have there demat account with

independent share 2rokers, then need to sign a special "orm, which will link

your two accounts

. R%8har4!)4 "o7r $r%$a! $ho)%J ow there is no need to rush to the

vendor to recharge the prepaid phone, every time the talk time runs out Rust

top9up the prepaid mo2ile cards 2y logging in to Internet 2anking By #ust

selecting the operators name, entering the mo2ile num2er and the amount

"or recharge, the phone is again 2ack in action within "ew minutes

1. Sho$$!)4 a "o7r ?!)4%r!$3J (eading 2anks have tie ups with various

shopping we2sites /ith a range o" all kind o" products, one can shop online

and the payment is also made conveniently through the account 'ne can

also 2uy railway and air tickets through Internet 2anking

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CHANGING TECHNOLOGIES

ELECTRONIC BANKING; HDFC BANK

%he technologies areJ9

%elephone 2anking

-o2ile 2anking

I.

A%-

&F%

AF%

TELEPHONE BANKING

/hen 2anking and "inancial services are delivered to the

customer o" a 2ank through the medium o" telephone is called

as telephone

It uses A.5automated voice response;

In this technology a customer uses the tone9phone to send

digiti0ed data messages to the system in order to activate a

particular service the system contains so"tware to recogni0e

the toneOword

MOBILE BANKING

It re"ers to the 2anking activity that are carried out on mo2ile

phone Current -o2ile Banking ApplicationsJ

o - Banking

o /A? Banking

o %! 5im %oolkit; Banking

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IR

Interactive oice .esponse 5I.; is a so"tware application that

accepts a com2ination o" voice telephone input and touch9tone

keypad selection and provides appropriate responses in the

"orm o" voice

I. has come into our li"e at the 2eginnings o" 73s

First step in %elephone Banking

?eak transaction volume in salary payment days "or 2alance

in>uiry

Integrated with A%- system

ATM>AUTOMATED TELLER MACHINE@

'n most modern A%-s, the customer is identi"ied 2y

inserting a plastic A%- cardwith a magnetic stripeor a

plastic smart cardwith a chip, that contains a uni>ue card

num2er and some security in"ormation such as an expiration

date or CC5C; Authentication is provided 2y thecustomer entering apersonal identi"ication num2er5?I;

+sing an A%-, customers can access their 2ank accountsin

order to make cashwithdrawals, credit cardcash advances, and

check their account 2alances as well as purchase prepaid

cellphone credit

ELECTRONIC FUND TRANSFER

&lectronic Funds %rans"er 5&F%; is a system o" trans"erring

money "rom one 2ank account directly to another without any

paper money changing hands 'ne o" the most widely9used

81
http://en.wikipedia.org/wiki/ATM_cardhttp://en.wikipedia.org/wiki/Magnetic_stripehttp://en.wikipedia.org/wiki/Smart_cardhttp://en.wikipedia.org/wiki/Integrated_circuithttp://en.wikipedia.org/wiki/Card_Security_Codehttp://en.wikipedia.org/wiki/Personal_identification_numberhttp://en.wikipedia.org/wiki/Deposit_accounthttp://en.wikipedia.org/wiki/Cashhttp://en.wikipedia.org/wiki/Credit_cardhttp://en.wikipedia.org/wiki/ATM_cardhttp://en.wikipedia.org/wiki/Magnetic_stripehttp://en.wikipedia.org/wiki/Smart_cardhttp://en.wikipedia.org/wiki/Integrated_circuithttp://en.wikipedia.org/wiki/Card_Security_Codehttp://en.wikipedia.org/wiki/Personal_identification_numberhttp://en.wikipedia.org/wiki/Deposit_accounthttp://en.wikipedia.org/wiki/Cashhttp://en.wikipedia.org/wiki/Credit_card


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&F% programs is Direct Deposit, in which payroll is deposited

straight into an employees 2ank account

&F% is sa"e, secure, e""icient, and less expensive than paper

check payments and collections

AUTOMATED FUND TRANSFER

%he automatic "unds trans"er is a "inancial transactionthat

ensures "unds are sent and received on schedule without the

need "or human intervention

SECURITY MEASURES%here exist two di""erent security methods "or online 2anking

1 %he ?IO%Asystem where the ?I represents a password, used

"or the login and %As representing one9time passwordsto

authenticate transactions %As can 2e distri2uted in di""erent ways,

a the most popular one is to send a list o" %As to the online

2anking user 2y postal letter %he most secure way o" using %As is

to generate them 2y need using a security token %hese token

generated %As depend on the time and a uni>ue secret, stored in

the security token 5this is called two9"actor authenticationor 6FA;

+sually online 2anking with ?IO%A is done via a we2 2rowser

using ( secured connections, so that there is no additional

encryption needed

2 Another way to provide %As to an online 2anking user, is

to send the %A o" the current 2ank transaction to the users 5$-;

mo2ile phone via - %he - text usually >uotes the transaction

amount and details, the %A is only valid "or a short period o" time

86
http://www.wisegeek.com/what-is-a-financial-transaction.htmhttp://en.wikipedia.org/wiki/Personal_Identification_Numberhttp://en.wikipedia.org/wiki/Transaction_authentication_numberhttp://en.wikipedia.org/wiki/One-time_passwordhttp://en.wikipedia.org/wiki/Security_tokenhttp://en.wikipedia.org/wiki/Two-factor_authenticationhttp://www.wisegeek.com/what-is-a-financial-transaction.htmhttp://en.wikipedia.org/wiki/Personal_Identification_Numberhttp://en.wikipedia.org/wiki/Transaction_authentication_numberhttp://en.wikipedia.org/wiki/One-time_passwordhttp://en.wikipedia.org/wiki/Security_tokenhttp://en.wikipedia.org/wiki/Two-factor_authentication


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&specially in $ermany and Austria, many 2anks have adapted this

- %A service as it is considered as very secure

6 ignature 2ased online 2anking where all transactions are signed

and encrypted digitally %he !eys "or the signature generation and

encryption can 2e stored on smartcards or any memory medium,

depending on the concrete implementation

COUNTER MEASURES

%here exist several countermeasures which try to avoid attacks

1 D!4!a* 8%r!?!8a%3are used against phishing and pharming,

the use o" class98 card readers is a measure to avoid

manipulation o" transactions 2y the so"tware in signature

2ased online 2anking variants

6 %o protect their systems against %ro#an horses, users should

use #!r73 38a))%r3and 2e care"ul with downloaded so"tware

or e9mail attachments

88
http://en.wikipedia.org/wiki/Digital_certificateshttp://en.wikipedia.org/wiki/Virus_scannershttp://en.wikipedia.org/wiki/Digital_certificateshttp://en.wikipedia.org/wiki/Digital_certificateshttp://en.wikipedia.org/wiki/Virus_scanners


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ARCHITECTURE

In the internet architecture there is a /&B

&.&. %o the we2 server the BA! &.&. is

connected Banks access the customer data2ase and then get

connected to the we2 server "or the transactions %he we2

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server is connected to the internet Firewalls are used "or the

protection

MAIN CONCERNS IN INTERNET BANKING

In a survey conducted 2y the 'nline Banking Association,

mem2er institutions rated security as the most important issue o"

online 2anking %here is a dual re>uirement to protect customers

privacy and protect against "raud Banking ecurelyJ 'nline

Banking via the /orld /ide /e2 provides an overview o"

Internet commerce and how one company handles secure 2anking"or its "inancial institution clients and their customers ome 2asic

in"ormation on the transmission o" con"idential data is presented

in ecurity and &ncryption on the /e2 ?C -aga0ine 'nline also

o""ers a primerJ How &ncryption /orks A multi9layered security

architecture comprising "irewalls, "iltering routers, encryption and

digital certi"ication ensures that your account in"ormation is

protected "rom unauthorised accessJ

Firewalls and "iltering routers ensure that only the legitimate

Internet users are allowed to access the system

&ncryption techni>ues used 2y the 2ank 5including the

sophisticated pu2lic key encryption; would ensure that

privacy o" data "lowing 2etween the 2rowser and the In"inity

system is protected

Digital certi"ication procedures provide the assurance that the

data you receive is "rom the In"inity system

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ADANTAGES OF INTERNET BANKING

1B&&FI% F'. BA!

(arge customer coverage

(ower cast o" operation

International promotion o" products and services

Increasing customer satis"action and providing

personali0ed relationship with customers

6 B&&FI% F'. -A(( %' -&DI+- B+I&

to run its operations more e""ectively

lower cost than traditional "inancial management

mechanisms

8 B&&FI% F'. C+%'-&.

Convenience96: hrs a day and E days a week

Cost9 reducing trans"er "ees

peed9 "aster circulation o" assets

Competitiveness9"ostering competition in "inancial

market

Communication9 communicate easily

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&nvironmental9a2olishing the uses o" paper

DISADANTAGES OF INTERNET BANKING

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I)%r)% 6a)2!)4 3%r#!8%3 $ro#!% a )7(6%r o? 6%)%?!3 o

8o)37(%r3. D%3$!% h% 4ro9!)4 $o$7*ar!" o? !)%r)% 6a)2!)4'

! 8a))o 6% %)!% ha 3o(% $%o$*% 3!** r%(a!) h%3!a) o!)4

ra)3a8!o)3 o)*!)% %3$%8!a**" 9h%r% (o)%" !3 8o)8%r)%. So(%

o? h% !3a#a)a4%3 ar% +;

,. I($%r3o)a*.; Do!)4 ra)3a8!o)3 o) h% !)%r)% 8a) 6% #%r"

!($%r3o)a*. I) oh%r 9or3' "o7 o)*" o 673!)%33 9!h h% 73% o?

a 8o($7%r. No !)!#!7a* o r%8%!#% a) 8h%82 "o7r (o)%" or

8orr%8 3o(% 9ro)4 !)?or(a!o) ha "o7 (!4h ha#% 9r!%) o)

a 8%ra!) ?or(. A) 3o ?or $%o$*% 8o(?ora6*% %a*!)4 9!h r%a*

$%o$*% 9ho $ro#!% $%r3o)a*!5% 3%r#!8%3 a) 73!)4 $a$%r a)

(o)%"' !)%r)% 6a)2!)4 !3 )o !%a*.

:. La82 o? r73; Ma)" $%o$*% 3!** o) r73 h% !)%r)%. For

h% )%9 73%r3 9ho ha#% $%r?or(% ?!)a)8!a* ra)3a8!o)3 ?or

o)*" a ?%9 !(%3' h%" (a" 3!** ha#% h!3 o76 9h%h%r or )o

h%" ! h% r!4h h!)4 378h a3 8*!82% h% r!4h 67o) a) 3o

o). Th%" 8a) o)*" 6% 8o(?ora6*% o)8% h%" $r!) h% ra)3a8!o)

r%8%!$ a) h% ra)3a8!o) a$$%ar% o) h% 6a)2 3a%(%).

-. D!??!87* ?or ?!r3 !(%r3; For a ?!r3 !(% 73%r' )a#!4a!)4

hro74h a 9%63!% o? a) !)%r)% 6a)2 (a" 6% har a) (a"

a2% 3o(% !(%. O$%)!)4 a) a88o7) 8o7* a*3o a2% !(% a3

3o(% 3!%3 a32 ?or )7(%ro73 $%r3o)a* %a!*3 !)8*7!)4 a $hoo

!%)!?!8a!o) 9h!8h 8a) !)8o)#%)!%)8% h% $o%)!a* 873o(%r.

B%8a73% o? h!3 8o($*%!"' h%" (a" 6% !38o7ra4% o 73% h!3

!)%r)% 6a)2!)4 3%r#!8%. T7or!a*3 a) *!#% 873o(%r 37$$or

(a" 6% $ro#!%' ho74h' o h%*$ h% 8*!%) !) h!3 or h%r )%%%

a323 3o !3 6%3 o a2% h% !(% o 2)o9 h% #!r7a*

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%)#!ro)(%).

0. S%87r!" ?ra7.; Ma)" $%o$*% 3h" a9a" ?ro( !)%r)% 6a)2!)4

6%8a73% o? h% 3%87r!" hr%a. Th%" 8a) h%*$ 67 9orr" a6o7

h!3 a3$%8 9ha 9!h )%93 o) ?ra77*%) 6a)2 ra)3a8!o)3 ha

$o$ 7$ %#%r" )o9 a) h%). Ho9%#%r' h!3 3ho7* )o 6% a

$ro6*%( a3 6a)23 ha $ro#!% !)%r)% 6a)2!)4 3%r#!8%3

$r!or!!5% 3%87r!" a6o#% a)"h!)4 %*3%. S!)8% h%" #a*7% h%!r

873o(%r3' h%" a*9a"3 73% h% (o3 a#a)8% 3%87r!"

%8h)o*o4" !) $ro%8!)4 h%!r 9%63!%3.

/. Ba)2 3!% 8ha)4%3; Mo3 6a)23 7$4ra% h%!r o)*!)%

$ro4ra(3 o) a $%r!o!8 6a3!3 3o(%!(%3 a!)4 )%9 ?%a7r%3

a) $ro783. Wh%) h!3 ha$$%)3' h% 6a)2 (a" a32 873o(%r3

o r%;%)%r a88o7) !)?or(a!o) 9h!8h 8a) 6% a 8a73% o? 9orr".

. A88%33!6!*!"9 I" the Internetgoes down in your area or the area o"

the 2anking o""ice, you will 2e una2le to access your accounts %his

includes 2eing una2le to withdraw money "rom A%-s or to use your

de2it card

TIPS TO AOID INTERNET BANKING FRAUDS

Th% #ar!o73 9a"3 o a#o! !)%r6a)2!)4 ?ra73 ar%+;

,. Ph!3h!)4

A persons personal details are o2tained 2y "raudsters posing

as 2ankers, who "loat a site similar to that o" the persons

2ank %hey are asked to provide all personal in"ormation

a2out themselves and their account to the 2ank on the pretext

o" data2ase upgradation %he num2er and password are then

8
http://www.ehow.com/internet/http://www.ehow.com/internet/


40/100

used to carry out transactions on their 2ehal" without their

knowledge

:. Ha82!)4

Here, personal data is stolen through hacking %he "raudster

needs to 2e an adept cy2er criminal who can steal in"ormation

stored or transacted in any computer ometimes, a spyware is

installed in computer to gain access to all "iles

-. S%87r!)4 "o7r a88o7)

Here are some simple tips to prevent you "rom "alling into the

trap o" cy2er criminals .emem2er, a simple ignorance or

oversight can make a huge dent in your hard9earned savings

Avoid online 2anking on unsecured wi"i systems and operate

only "rom ?Cs at home ever reveal password to anyone Do

not even write it on a piece o" paper on diary Rust memorise

it It should 2e alphanemeric and change it "re>uently ever

reply to >ueries "rom 2ank online a2out account or personal

details %he personal in"ormation should not 2e kept in a

pu2lic computer or in emails

0. Ch%82 3!%3 Ur*

Always check the +.( o" your 2anks we2 site Fraudsters

can lure you to enter your user ID and password at a "ake

we2site that resem2les your 2ank I" you see anything other

than the 2anks genuine +.(, it has to 2e "ake ever enter

your user ID or password or such sensitive in"ormation

without ascertaining that you are on the right we2site Always

type the /e2 address o" your 2ank into the 2rowser address

space ever click on the link in the email

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/. F7**;$roo? $a339or

Change your online 2anking password at regular intervals

Also, avoid easy9to9guess passwords, like "irst names,

2irthdays, kids or spouses name and telephone num2ers %ry

to have an alpha9numeric password, one that com2ines

alpha2ets and num2ers I" you have several 2ank accounts,

never use the same online 2anking password "or all ever

select the option on 2rowser that stores or retains user name

and password As it can easily 2e cracked 2y cy2er criminals

Also, never paste your password, always type it in %his little

amount o" P"inger exercise will go a long way in sa"ety

. A*9a"3 8h%82 *a3 *o44%

-ost 2anks have a last logged in panel on their we2sites I"

your 2ank has it, check the panel whenever you log in I" you

notice irregularities 5like you are logging in a"ter two days,

2ut the panel says you logged in that morningS;, report the

matter immediately to your 2ank and change your password

right away Always log out when you exit the online 2anking

portal Close the 2rowser to ensure that your secure session is

terminated ever exit simply 2y closing the 2rowser

1. K%%$ "o7r 3"3%( 7$ o a%

.egularly check "or security updates "or your computer

operating system -ost security updates are aimed at reducing

risks to your computer, these may 2e data9related or

otherwise -ake sure that your operating system and 2rowser

have the latest security patches installed And, always install

these only "rom trusted we2sites Install a personal "irewall to

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prevent hackers "rom gaining unauthorised access to your

computer, especially i" you connect to the Internet through a

ca2le or a D( modem

. P76*!8 a88%33 8a) 6% !)j7r!o73

Dont leave the ?C unattended a"ter keying in in"ormation

while transacting on the we2site Avoid accessing your 2ank

online at cy2er ca"es or on a share or pu2lic computer Also,

avoid locations that o""er online connections through wireless

networks 5/i9Fi;, where privacy and security are minimal

. P76*!8 PC3

Also, using et 2anking services at cy2er ca"es leaves one

vulnera2le to data thieves Another modus operandi adopted

2y cheats these days is stealing data "rom pu2lic computers or

shared ?Cs %he "raud here takes advantage o" unsecured

cy2er ca"es A police o""ice says, ometimes, the ca"e owners

are hand9in9glove with the thugs

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COMPANY PROFILE

AB'+% %H& '.$AITA%I'J

%he Housing Development Finance Corporation (imited 5HDFC; wasamongst the "irst to receive an in principle3 approval "rom the .eserve Bank

o" India 5.BI; to set up a 2ank in the private sector, as part o" .BI3s

li2eralisation o" the Indian Banking Industry in 1: %he 2ank was

incorporated in August 1: in the name o" HDFC Bank (imited3, with its

registered o""ice in -um2ai, India HDFC Bank commenced operations as a

cheduled Commercial Bank in Ranuary 1

?.'-'%'.HDFC is Indias premier housing "inance company and en#oys an

impecca2le track record in India as well as in international markets ince its

inception in 1EE, the Corporation has maintained a consistent and healthy

growth in its operations to remain the market leader in mortgages Its

outstanding loan port"olio covers well over a million dwelling units HDFC

has developed signi"icant expertise in retail mortgage loans to di""erent

market segments and also has a large corporate client 2ase "or its housing

related credit "acilities /ith its experience in the "inancial markets, strong

market reputation, large shareholder 2ase and uni>ue consumer "ranchise,

HDFC was ideally positioned to promote a 2ank in the Indian environment

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BRANCH NETWORK

Currently HDFC Bank has 1:1 2ranches, 88@6 A%-s, in 7 cities in

India, and all2ranches o" the 2ank are linked on an online real9time 2asis

%he 2ank o""ers many innovative products * services to individuals,

corporate, trusts, governments, partnerships, "inancial institutions, mutual

"unds, insurance companies It is a path 2reaker in the Indian 2anking sector

In 677E HDFC Bank ac>uired Centurion Bank o" ?un#a2 taking its total

2ranches to more than 1,777 %hough, the o""icial license was given to

Centurion Bank o" ?un#a2 2ranches, to continue working as HDFC Bank

2ranches, on -ay 68, 677@

BUSINESS FOCUS

HDFC Banks (!33!o) is to 2e a /orld9Class Indian Bank %he Banks aim

is to 2uild sound customer "ranchises across distinct 2usinesses so as to 2e

the pre"erred provider o" 2anking services in the segments that the 2ank

operates in and to achieve healthy growth in pro"ita2ility, consistent with the

2anks risk appetite %he 2ank is committed to maintain the highest level o"

ethical standards, pro"essional integrity and regulatory compliance HDFC

Banks 2usiness philosophy is 2ased on "our core valuesJ 'perational

&xcellence, Customer Focus, ?roduct (eadership and ?eople

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45/100

HDFC BANK SERICES

a. NET BANKING+et Banking is HDFC Banks Internet Banking service

?roviding up9to9the9second account in"ormation, et Banking lets you

manage your account "rom the com"ort o" your mouse 9 anytime, anywhere

6. HDFC Ba)2 N% Ba)2!)4 S%87r% A88%33

HDFC Bank has implemented a new security solution "or its customers K

ecure Access As your security is our top priority, we have initiated the

ecure Access solution to protect you "rom "raudsters and hackers 9 who are

looking to "ind a way to access your account Currently "ollowing

transactions are covered under ecure Access

M %rans"er "rom one HDFC Bank account to other HDFC Bank account

holders 5under distinct customer ID;

M %rans"er "rom HDFC Bank account to any other Banks account 5also

known as .%$ * &F%;

M isa -oney %rans"er

M %hird ?arty Demand Dra"t through et Banking

8. Th!r Par" Tra)3?%r

%hird9?arty %rans"er is a et Banking "eature "or which you will need your

uni>ue Customer ID and I?I 5password; (ogin to et Banking to con"irm

that your ID is active in our records

FEATURES & BENEFITS

o need to individually log on to internet 2anking o" every account Rust log

on to 'ne iew and manage upto FI& accounts in di""erent 2anks

M .emem2er only '& password

:


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M o charges whatsoever

HOW SECURE IS ONEIEW

'ne iew gives you the world class 2anking security and technology

sophistication youd expect o" HDFC Bank, with "eatures such asJ

M .o2ust "irewall protection makes it nearly impossi2le to 2reak through

M All in"ormation is transmitted using advanced 16@ 2it ecure ocket (ayer

5(; encryption technology

M Automatic time9outs ensure that your account details are not viewed 2y

others

M )ou can only view your accounts and cannot transact, so your money is

a2solutely sa"e

MOBILE BANKING+ )our -o2ile is now your 2ankS ow access your

2ank account and conduct a host o" 2anking transactions through your

mo2ile, with our uni>ue -o2ile Banking service )ou can check your

account level in"ormation such as 2alance details, mini statement, and

che>ue status as well as carry out "inancial transactions such as Funds

%rans"er using HDFC Bank -o2ile Banking service

FEATURES OF MOBILE BANKING

+sing our -o2ile Banking service, you can avail o" a host o" "eatures at

your "inger tips

M ?er"orm "unds trans"ers

M $et your 2alance details

M '2tain your last 8 transaction details

M .e>uest a che>ue 2ook

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M top a che>ue payment

M &n>uire che>ue status

M .e>uest an account statement

M $et Fixed Deposit details

M .e>uest "or I9?I generation

M .e>uest a che>ue 2ook

AUTOMATED TELLER MACHINE+ /ith wide spread network o" :,777

A%-s across India, en#oy the "ollowing 2ene"its at your convenience

M :0;ho7r a88%33 o Ca3h 9 /ithdraw up to .s17, 777O9 per day on your

A%- Card and up to .s 1,777 on your De2it Card

M P%r3o)a*!5% Ca3h W!hra9a*3 K ave time on your cash withdrawal

transactions 2y pre9setting your pre"erred language O account O amount

M !%9 A88o7) Ba*a)8%3 & M!)!;3a%(%)3 9 $et details o" the last

transactions on your account with the mini9statement, along with your

account 2alance

M Cha)4% ATM PIN 9 Change your A%- ?I at any given point in time

M Or%r a Ch%7% Boo2 A88o7) Sa%(%)

M HDFC Ba)2 Cr%! Car Pa"(%) 9 -ake payment o" your HDFC Bank

Credit Card dues using the A%- %he primary account o" your De2it O A%-

card will 2e de2ited

M D%$o3! Ca3h or Ch%7%3 9 Deposit Cash or Che>ues into your account

without visiting the Branch Availa2le at on9Branch HDFC Bank A%-s

M Tra)3?%r F7)3 6%9%%) a88o7)3 K %rans"er money 2etween your

accounts Both accounts must 2e linked to your A%- O De2it Card

-aximum o" 1 AOCs 5avings O Current; can 2e linked to a card

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REFILL YOUR PREPAID MOBILEK .e"ill your prepaid mo2ile using

?repaid -o2ile .e"ill service instantly HDFC Bank o""ers K ?repaid -o2ile

.e"ill, which allows you to recharge your prepaid mo2ile phone anytime

"rom anywhere and pay directly "rom your Bank account Avoid hassles o"

withdrawing cash or searching "or a retailer "or 2uying the recharge card

M )ou can avail o" this service in two convenient waysJ

?repaid -o2ile .e"ill on Internet

?repaid -o2ile .e"ill on A%-

PHONE BANKING+ )our phone is now your 2ank /hen you dial in to

?hone Banking, a voice prompt will guide you through the various

transactions )ou may also talk to a ?hone Banker, who will provide you

with the re>uired assistance Avail o" the "ollowing services via ?hone

BankingJ

a. Ch%82 "o7r a88o7) 6a*a)8% ; $et up9to9the9second details o" your

avings or Current Accounts and your Fixed Deposits )ou can also get the

details o" the last transactions on your account, or have a mini statement o"

last transactions "axed across to you

6. E)7!r% o) h% 8h%7% 3a73 ; )ou can use ?hone Banking to check on

the status o" che>ues issued or deposited "rom anywhere in India

8. Or%r a Ch%7% Boo2 A88o7) Sa%(%) ; Rust call ?hone Banking

and get your Che>ue Book or latest Account tatement delivered at your

doorstep

. So$ Pa"(%) ; top payment o" a single che>ue or a series o" che>ues,

6: hours a day Loa) R%*a% 7%r!%3 ; $et details o" the outstanding loan

amount, en>uire a2out your loan account, re>uest "or an interest certi"icate

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and repayment schedule, etc Rust call ?hone Banking in your city and dial :

to speak to our ?hone Banker

%. O$%) a F!% %$o3! or E)7!r% o) "o7r F!% %$o3!3 TDS ;

%alk to our ?hone Banker to easily open a Fixed Deposit over the phone, 2y

simply authori0ing a trans"er o" "unds "rom your avings Account

?.Tra)3?%r F7)3 6%9%%) a88o7)3 ; )ou can also trans"er money "rom

one o" your accounts to another Both accounts must 2e linked to your

Customer ID )ou can trans"er amounts upto .s 1 (ac in a single day

4.Pa" "o7r 6!**3 ; ?ay your cellular, telephone, electricity and HDFC Bank

Credit Card 2ills through ?hone Banking using Bill ?ay, a comprehensive

2ill payments solution

h. R%$or *o33 o? "o7r ATM D%6! Car For% P*73 Car ; I" your

A%- O De2it O Forex plus Card are lost, call any ?hone Banking num2er to

deactivate your card5s;

!. L%ar) a6o7 a** o7r oh%r $ro783 ; $et details on HDFC Bank

products * services 2y talking to our ?hone Banker

j.E)7!r% a6o7 *a%3 I)%r%3 E8ha)4% ra%3 ; $et latest Interest rates

on Deposits and Foreign &xchange rates 2y talking to our ?hone Banker

2. R%7%3 a D%(a) Dra? Ma)a4%r3 Ch%7% ; Call ?hone

Banking and get a Demand Dra"t O -anagers Che>ue delivered to your

doorstep

*. D%(a R%*a% Q7%r!%3 ; $et the Account holding details, %ransaction

details, II um2er o" a scrip, tatus o" Depository lips, details o" Client

-aster list 5Dividend account, Charges De2it account, ?A etc; * others

Call ?hone Banking in your city * dial to speak to our ?hone Banker

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Products

P%r3o)a* 6a)2!)4

+nder ?ersonal Banking, HDFC o""ersJ

Accounts * Deposits

(oans

Cards

Demat

Investments

Insurance

Forex

?remium Banking

?rivate Banking

NRI 6a)2!)4

+nder .I Banking, HDFC o""ersJ

Accounts * Deposits

-oney %rans"er

Investments * Insurance

.esearch .eports

?ayment ervices

SME 6a)2!)4

+nder -& Banking, HDFC o""ersJU1EV

7
http://en.wikipedia.org/wiki/HDFC_Bank#cite_note-17http://en.wikipedia.org/wiki/HDFC_Bank#cite_note-17


51/100

Accounts * Deposits

Business Financing

%rade ervices

?ayments * Collections

Cards

Who*%3a*% 6a)2!)4

HDFC o""ers /holesale Banking "or Corporates and Financial Institutions *

%rusts %he Bank also provides services such as Investment Banking and

other services in the $overnment sector

Services

Who*%3a*% 6a)2!)4 3%r#!8%3

HDFC Bank provides a range o" commercial and transactional 2anking

services, including working capital "inance, trade services, transactional

services, cash management, etc to large, small and mid9si0ed corporates and

agriculture92ased 2usinesses in India %he 2ank is also a leading provider o"

these services to its corporate customers, mutual "unds, stock exchange

mem2ers and 2anks

R%a!* 6a)2!)4 3%r#!8%3

HDFC Bank was the "irst 2ank in India to launch an International De2it

Cardin association with IA 5isa &lectron; %he 2ank also issues

the -asterCard-aestro de2it card %he Bank launched its credit

card2usiness in late 6771 By the end o" Rune 6718, it had a credit card 2ase

o" : million By -arch 6716, the 2ank had a total card 2ase 5de2it and

credit cards; o" over 1E million %he Bank is also one o" the leading

1
http://en.wikipedia.org/wiki/Debit_Cardhttp://en.wikipedia.org/wiki/Debit_Cardhttp://en.wikipedia.org/wiki/Visa_Electronhttp://en.wikipedia.org/wiki/MasterCardhttp://en.wikipedia.org/wiki/Credit_cardhttp://en.wikipedia.org/wiki/Credit_cardhttp://en.wikipedia.org/wiki/Debit_Cardhttp://en.wikipedia.org/wiki/Debit_Cardhttp://en.wikipedia.org/wiki/Visa_Electronhttp://en.wikipedia.org/wiki/MasterCardhttp://en.wikipedia.org/wiki/Credit_cardhttp://en.wikipedia.org/wiki/Credit_card


52/100

players in the merchant ac>uiring 2usiness with over 6:7,777 point9o"9sale

5?'; terminals "or de2it O credit cards acceptance at merchant

esta2lishments %he Bank is positioned in various net 2ased B6C

opportunities including a wide range o" Internet 2anking services "or Fixed

Deposits, (oans, Bill ?ayments, etc

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RESEARCH METHODOLOGY

I)ro78!o)

%he two wheeler industry in India collectively produces 67 (akh vehicles a year

ome players have managed to cut through consumer resistance with innovation, pricing

and aggressive marketing %he competition level in the two wheeler industry is very high

now -any 2rands are "ighting in the market "or maximum share %hey have to 2ring out

a lot o" di""erentiation among them %he ma#or duty o" the marketer is to know the

reasons "or pre"erring particular motor 2ike 2y the consumers

RESEARCH DESIGN

P7r$o3% o? L!%ra7r% R%#!%9

(iterature review is one o" the prime parts o" every pro#ect %he very 2asic purpose o" the

literature review is to gain insight on the theoretical 2ackground o" the research pro2lem

It helps the researcher to gain strong theoretical 2asis o" the pro2lem under study and also

help to explore whether any one has done research on the related issue %hat3s why

literature review helps one to "ind out the path o" pro2lem solving In this regards the

very 2asic purpose o" the literature review in this dissertation is same as mentioned

M%hoo*o4"

%he research will 2e done through survey method %he collection o" data will 2e done

through >uestionnaire, interview and related we2sites

%he sample si0e taken "or this research is 177 customers those who having HDFC Bank

%he area o" this survey consist o" (ucknow city

%he collection o" data will 2e done with the help o" a structured >uestionnaire %he

designing o" >uestionnaire needs precision and classi"ication o" the su2#ect, so that the

respondents can easily understand the >uestion and can answer it sincerely and correctly

So7r8%3 o? Daa

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Pr!(ar" aa

?rimary data consists o" original in"ormation "or the speci"ic purpose at hand It is

"irst hand in"ormation "or the direct users o" respondents %he tools used to collect the

data may vary and can 2e collected through various methods like >uestionnaire, personal

interview

S%8o)ar" aa

econdary data is the data which is already 2een collected and assem2led %his

data is availa2le with the companies or "irms and it can 2e collected "rom newspapers,

periodicals, maga0ines, we2sites etc

Sa($*% D%3!4)

%he sample si0e taken "or this research is 177 customers having HDFC Bank

Sa($*!)4 T%8h)!7%

Convenient ampling techni>ue is used "or this pro#ect

Daa Co**%8!o) Too*

Nuestionnaires as the primary "orm o" collecting data

Sa!3!8a* %8h)!7%3

1 Bar Diagrams

6 ?ie9Chart

Sa!3!8a* oo*3

tatistical so"tware like -icroso"t &xcel

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NEED OF THE STUDY

M %o determining growth direction o" online 2anking service

M ?romoting &92anking services in 2anking industry

M Customer perception will 2e taken into consideration a2out the internet

2anking

OBJECTIES

%o study a2out the "actors that a""ects the customer perception

towards e2anking o" HDFC 2ank

%o analy0e Customer Awareness towards HDFC BA!

%o "ind out the ma#or pro2lems "aced 2y the customers while using e9

2anking services

%o know a2out the current and "uture prospects o" &9Banking to the

customers

%o get "eed 2ack on what consumer expects "rom HDFC BA!

%o analy0e Customer Awareness towards electronic services o""ered

2y HDFC BA! and per"ormance o" the 2anks

Develop skills in report writing through data collection, data analysis,

data extraction, and presentation


56/100

DATA ANALYSIS AND ITS FINDINGS

ANALYSIS OF DATA COLLECTED

Cha)4!)4 %8h)o*o4" a) C73o(%r A9ar%)%33 o9ar3 HDFC BANK

!) L782)o9 C!"

Sa%(%) o? Pro6*%(

tepping down o" HDFC Bank position "orm a market leader to an ordinary market

survivor has posed and alarming condition 2e"ore the company %he present study would

like to have an insight o" consumer3s perception a2out the criteria o" selecting the 2ikes

&specially to "igure out whether it is 2rand driven or >uality driven


57/100

CHAPTER 0+ DATA ANALYSIS & INTERPETATION

InterpretationJ %he result shows that ma#ority o" respondents ie EG are

males who are using the &92anking services and 6:G are the "emale who are

using &92anking services Female are not using this service 2ecause they

have less knowledge a2out the internet and they trust "ace to "ace interaction

more o it shows that &92anking is more "amous among male

E


58/100

InterpretationJ %he result shows that ma#ority o" respondents ie 6EG "alls

under the category o" 61987 years and 68G "alls under 2elow 67years it

shows that &92anking is mainly "amous among youngsters as they are the

ma#or users o" &92anking and least comes under a2ove 7years

@


59/100

InterpretationJ %he result shows that ma#ority o" respondents that are using

&2anking are Businessman ie 86G they are using &92anking services

2ecause it results in time saving And 6EG respondents are working in

private sector and 6:G respondents are working in governmentorgani0ations and 1EG are others which include students and housewives

they are using &92anking 2ecause it saves time and students they have

complete knowledge o" internet


60/100

InterpretationJ %he result o" this study shows that 86G o" the respondents

who are using &92anking "all under the income category o" 17,77796,777

and 87G "alls under the income category o" 6,777 to 7,777 and 68G G

"alls under the income category o" more than 7,777 and 1G G "alls under

the income category o" 2elow 17,777

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61/100

N6; /hile opening up the account, were you aware o" &92anking services

provided 2y HDFC 2ankW

InterpretationJ According to this survey ma#ority o" respondents ieE8G

were aware a2out &92anking services provided 2y their 2ank and 6EG o"

respondents were not aware a2out the &92anking services provided 2y their

2ank at the time o" opening up o" their account 2ecause o" lack o" awareness

and some are using 2anking services "rom last so many years at that time

2ank was not o""ering &92anking service so they were not aware at that time

2ut now they are aware

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62/100

N8; I" answer to >uestion no6 is )&, which o" the "ollowing &92anking

services is you aware o"W

6


63/100

InterpretationJ According to this study almost every customer is using more

one &2anking service and De2it Card is used 2y almost G o" respondents

and mo2ile 2anking is used 2ut @G o" respondents and 1G respondents

are using phone 2anking and only 1G are using one line 2anking this shows

the trend that how customers are using &92anking and among all the &9

2anking products de2it cards are mostly used 2y respondents 2ecause they

are easy to use and do not re>uire technical or computer knowledge

N:; Are you availing &92anking servicesW

8


64/100

:


65/100

N; i" answer to >uestion no: is yes, how "re>uently do you use each o" the

"ollowing servicesW

InterpretationJ %he results shows ma#ority o" the respondents use internet

2anking, as respondents are like to use internet 2anking 2ecause

according to them it3s easy to use and easily accessi2le %hey can use this

any time anywhere o it3s good "or them to use this "acility o" &9 2anking

they are satis"ied with this "acility o" & 2anking


66/100

InterpretationJ %he results shows ma#ority o" the respondents use mo2ile

2anking, as : respondents are like to use mo2ile 2anking 2ecause

according to them it3s easy to use and easily accessi2le %hey can use this

any time anywhere o it3s good "or them to use this "acility o" &9 2anking

they are satis"ied with this "acility o" &2anking %hey also have the same

reasons 2ecause its saves their time period 2ut the usage o" mo2ile 2anking

is less as compare to internet 2anking Because in the time o" technology the

most respondents are like to use the "acility o" internet instead o" using any

other


67/100

InterpretationJ %he results shows ma#ority o" the respondents use phone

2anking, as :: respondents are like to use phone 2anking 2ecause according

to them it3s easy to use and easily accessi2le %hey can use this any time

anywhere o it3s good "or them to use this "acility o" &9 2anking they are

satis"ied with this "acility o" &92anking As phone 2anking is also used 2y

less people as compare to other respondents who are using internet 2anking

as phone 2anking is also same as mo2ile 2anking so the respondents are

mainly used this as mo2ile 2anking

E


68/100

InterpretationJ %he results shows ma#ority o" the respondents use one line

2anking, as 81 respondents are like to use one line 2anking 2ut one line

2anking is used 2y very less respondents 2ecause they are not "ully aware

a2out this "acility provided 2y 2anks so the main "ocus is on internet

2anking, mo2ile 2anking, phone 2anking etc o they don3t have any

knowledge a2out the one line 2anking

InterpretationJ %he results shows ma#ority o" the respondents use de2it card,

as 1respondents are like to use de2it card 2ecause according to them it3s

easy to use and easily accessi2le %hey can use this any time anywhere -ost

o" the respondents are used this "acility a"ter the internet 2anking 2ecause

it3s the main "acility which is used 2y the customers and they really like this

"acility

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NE; %ick the "eature which you like while considering HDFC 2ankW

Interpretation net 2ankingJ As per the survey, 16 respondents liked the et

Banking services provided 2y HDFC 2ank


70/100

N@; /hich o" the "ollowing "actors in"luence you the most to use &92anking

servicesW

Interpretation o" All time availa2ilityJ %he result shows that according to

7G respondents all time availa2ility strongly in"luence them to use &9

2anking and according to 6G respondents all time availa2ility in"luence

E7


71/100

them more than average to use &92anking and according to EG respondents

all time availa2ility in"luence them less than average to use &92anking the

reason o" variation in views o" respondents is the 2ecause o" their

pre"erences and perception

Interpretation o" &asy o" +seJ %he results shows that according to :G

respondents ease o" use strongly in"luence them to use &92anking and

according to 6G respondents ease o" use in"luence them more than average

to use &92anking and according to G respondents ease o" use in"luence

them not at all to use &92anking

E1


72/100

Interpretation o" earnessJ According to :1G respondents nearness stronglyin"luence them to use &92anking and according to 68G respondents nearness

in"luence them average to use &92anking and according to :G respondents

nearness in"luence them less than average to use &92anking

Interpretation securityJ According to 8G respondents security strongly

in"luence them to use &92anking and according to 68G respondents security

in"luence them more than average to use &92anking and according to 18G

respondents security in"luence them less than average to use &92anking

E6


73/100

Interpretation Direct AccessJ %he result shows that according to :G

respondents direct access strongly in"luence them to use &92anking and

according to 6@G respondents direct access in"luence them more than

average to use &92anking and according to EG respondents direct access

in"luence them less than average to use &92anking

E8


74/100

Interpretation Friends and relativesJ %he result shows that according to :EG

respondents their "riendsOrelatives strongly in"luence them to use &92anking

and according to 6G respondents their "riendsOrelatives in"luence them

more than average to use &92anking and according to G respondents their

"riendsOrelatives in"luence them less than average to use &92anking

E:


75/100

Interpretation status sym2olJ %he result shows that according to 6G

respondent3s status sym2ol strongly in"luence them to use &92anking

2ecause now a days a person who is using &92anking services is considered

as a high pro"ile person and according to 6@G respondents status sym2ol

in"luence them more than average to use &92anking services

N; %o what extent are you satis"ied with your Banks3 &92anking servicesW

E


76/100

InterpretationJ %he most o" the customers are really liked the "acilities

provided 2y 2anks as they strongly agree that the "acilities are good "or them

so they like to avail the &92anking services provided 2y the di""erent 2anks

and the result shows that :@G respondents are highly satis"ied with the e9

2anking services provided 2y their 2ank and 6@G respondents are satis"ied

with the e92anking services provided 2y their 2ank and 1:G respondents are

dissatis"ied with the e92anking services provided 2y their 2ank

HDFC

E


77/100

InterpretationJ From this we can analysis that most o" the respondents that is

1 respondents are satis"ied with the services provided 2y the 2ank %hat

they like the 2anking

services provided 2y the 2y HDFC 2ank and the 2ank also easily satis"ied

their customers

EE


78/100

N17; /hich o" the "ollowing 2ene"its accrue to you, while +sing e92anking

servicesW

InterpretationJ -ost o" the respondents think that the ma#or 2ene"it "rom &9

2anking services is time saving "acility Because the ma#or pro2lem which

the respondents "aced is time pro2lem so &92anking eases their lives and

save their time so they like this "acility 2ecause o" this "acility

E@


79/100

HDFC

InterpretationJ /e can analysis that the customers o" HDFC really satis"ied

with the time saving "acility o" &92anking %hey thought that it3s a good "or

them to use the &2anking services 2ecause it3s save their time and they can

easily access the service

E


80/100

N11; !indly rate the "ollowing reasons enlisted "or not using the &92anking

servicesW

InterpretationJ From the non users, an attempt was made to elicit the reasons

"or its non usage As shown in the ta2le, satis"action with traditional 2anking

was considered as prime de9motivating "actor, "ollowed closely 2y the "ear

@7


81/100

o" insecurity, then hidden cost3 "actor, which suggested their resistance to

change, which to some extent can 2e countered 2y aggressive advertisement

and utili0ing other modes o" awareness dissemination as well

@1


82/100

16;.ate the "ollowing statements with regards to potential pro2lems

identi"ied in &92anking servicesW

Factors Highly

considered

-a#or Average -inor Ignora2le

A %ime consuming 1@ 1: 8 88

B ecurity Issue @ 67 6 87 66

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Changing Technology & Customre Awareness of HDFC BANK

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