chapter 5 e- banking services offered by banks

Chapter -5: E-Banking Services Offered by Banks 114

CHAPTER 5

E- BANKING SERVICES

OFFERED BY BANKS

5.1 Internet Banking services offered by ICICI

Bank

5.2 Internet Banking services offered by HDFC

Bank

5.3 Internet Banking services offered by State

Bank of India

5.4 Internet Banking services offered by Bank

of Baroda

5.5 Conclusion


5.1 ICICI Bank

Industrial Credit and Investment Corporation of India founded ICICI Bank as a

wholly owned subsidiary in 1994. Earlier the bank was known as the Industrial Credit

and Investment Corporation of India Bank and later it was renamed as ICICI Bank.

ICICI had adopted drastic changes in its business with the shift in its business to

a diversified financial portfolio having a variety of financial products and services from

only project financing business, through its various subsidiaries and affiliates as ICICI

Bank. In 1994, ICICI Bank has started its e-banking services. ICICI had the proud of

being the 1st Indian company to be listed on NYSE from non- Japan Asia in 1999. As

its parent company, ICICI bank is the 1st Indian bank to be listed on NYSE with 5mn

ADR generating a demand book 13 times the offer size in 2000. The merger of ICICI

and its two of its wholly owned retail finance subsidiaries, ICICI Personal Financial

Services Limited and ICICI Capital Services Limited, with ICICI Bank was approved

by Board of Directors of ICICI & ICICI Bank in October 2001, by shareholders of

ICICI and ICICI Bank in January 2002, by the High Court of Gujarat at Ahmedabad

in March 2002 and by the High Court of Judicature at Mumbai and the RBI in April

2002. Later ICICI, the parent company merged into the bank.

ICICI Bank Ltd. is India's second largest financial services company

headquartered in Mumbai, India. It 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. The Bank has a

network of 2,533 branches and 6,800 ATMs in India, and has a presence in 19

countries, including India.

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 established branches in Belgium and Germany.

http://en.wikipedia.org/wiki/Mumbai


Table 7: Private Sector Banks: ICICI Bank

(Amount in crore)

Items 2006-

07

2007-

08

2008-

09

2009-

10

2010-

11

Group

Aggregate

2010-11

All

Banks’

Aggregate

2010-11

No. of offices 716 1271 1432 1719 2564 11968 76696

No. of employees 33321 40686 34596 35256 56969 218679 1004182

Business per employee (in

lakh) 1027 1008 1154 765 735 823.26 987.38

Profit per employee (in lakh) 9.00 10.00 11.00 9.00 10.00 8.10 7.00

Capital and Reserves &

surplus

24663 46820 49533 51618 55091 138589 509813

Deposits 230510 244431 218348 202017 225602 1002759 5616432

Investment 91258 111454 103058 120893 134686 422020 1916053

Advances 195866 225616 218311 181206 216366 797534 4298704

Interest income 21996 30788 31093 25707 25974 96827 491665

Other income 6928 8811 7604 7478 6648 20726 79564

Interest expended 16358 23484 22726 17593 16957 57115 298891

Operating expenses 6691 8154 7045 5860 6617 27606 123129

Cost of Fund (CoF) 5.34 6.40 5.72 4.18 3.59 4.56 4.73

Return on advances adjusted

to CoF

4.08 4.33 4.33 4.51 4.68 5.11 4.45

Wages as % to total

expenses 7.01 6.57 6.62 8.21 11.95 14.54 17.05

Return on Assets 1.09 1.12 0.98 1.13 1.35 1.43 1.10

CRAR 11.69 13.96 15.53 19.41 19.54 16.46 14.17

Net NPA ratio 1.02 1.55 2.09 2.12 1.11 0.56 0.97

Source: http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/APB02091011F.pdf

Internet Banking

ICICI Bank Online Banking Services provide the bank right at customers’

desktops. Now, banking becomes a pleasure as the transactions and services become


instant with ICICI Bank online Internet banking. The services provided are totally

secure and unique. These cover a variety of banking services as, online account

transactions and operations, credit card and account applications and payments, share

trading and investments through mutual funds, bill payments, statement generation

and a virtual demo of each service.

Role of customer when using e-banking

Customers can access ICICIBank.com only by using their User ID and

Password. During the first login attempt, it is mandatory to change both passwords -

login and transaction – which would have been mailed to customer by the bank.

If customers forget their password, they will have to write to bank using the

"Email Us" option. The Bank will then issue a new password and send it to their

mailing address as per bank’s records.

Features offered by ICICI bank for internet banking

1. Balance enquiry and statement

2. Transfer fund online

3. Card to card fund transfer

4. Use debit card online

5. Prepaid mobile recharge

6. Subscribe for mobile banking

7. Link bank account to ATM

8. Lock or activate debit cards or ATM

9. Request a cheque book

10. Stop payment

Novel internet banking services provided by ICICI Bank are as follows-

Book ticket online

With ICICI Bank customers need not to visit booking reservation centres to

book their travel tickets. Customers can now buy their train tickets online and pay

using ICICI Bank’s Internet Banking Facility. For this ICICI Bank has tied up with

IRCTC. All internet banking customers can use this facility.


Railway Ticket Booking through SMS

ICICI Bank has launched facility of Railway Ticket Booking via SMS, in

association with Indian Railway Catering and Tourism Corporation Ltd (IRCTC).

This unique facility gives customers the facility to book long distance railway tickets

by just sending SMS. Customers are required to do is a simple one-time registration

with ICICI Bank and IRCTC.

The total value of the tickets will be debited from the Bank account, which

customers have registered for Mobile Banking. ICICI Bank use to send a SMS to

customers about successful debit.

Once IRCTC has booked the tickets they will also send a SMS to customers

intimating customers of the same along with the PNR number. The tickets will be

delivered at the address that customers have mentioned on IRCTC's website while

registering with IRCTC.

Bill Payment Service

BILL PAY

To pay bills through the Bill Pay facility, customers need to complete a simple

one time registration for each biller. Then there would be no need to enter billing

details every time customers pay their bills. ICICI Bank offers this facility in two

modes depending on the biller:

PRESENTMENT TYPE BILLER: For these billers, the biller will present the bills

in customers’ account for payment. Customers need to do is:

Login and Register their biller for one time

View their bills from the next billing cycle

Pay their exact bill amount

Customers can also set up Standing Instructions online to pay their recurring

bills, automatically. The Standing Instructions can also be modified by logging into

their account.


PAYMENT TYPE BILLER: For these billers customers can pay their bills at their

convenience as per the billing cycle. All they need to do is:

Login and Register their biller for one time

Pay any amount as per bill

Customers can also set up standing instructions for recurring payments

Quick Pay

ICICI Bank Quick Pay is the easiest and smartest way to manage and pay

utility bills online anytime, anywhere. Quick Pay facility is so convenient that it

doesn't need any registration. So it helps customers in do away with writing cheques

or standing in queues to pay all their utility bills. They can make all their bill

payments from the convenience of their home or office with Quick Pay. Add to it,

Quick Pay facility enables customers to make instant payments for free.

Customers need to consider following points:

Customers need to make payment at least 2 days before the due date.

Customers need to have ICICI bank Internet banking User Id and Password for

making the payments.

Customers are requested to submit the correct bill details, incorrect details will

lead to wrong payments to the utility company. In such case ICICI Bank will

not be responsible for wrong payments.

Funds Transfer (eCheques)

Now, with ICICIBank.com, transferring funds from ICICI Bank Account is

very simple. There are various options provided online for transferring funds on ICICI

Bank’s website. Customers can select to:

(i) Transfer Funds to their own linked ICICI Bank accounts

(ii) Transfer Funds to other ICICI Bank accounts, anywhere in India

(iii) Transfer Funds to specified Non-ICICI Bank accounts

With Funds Transfer on ICICIBank.com, customers can enjoy following

benefits:

(i) Forget about writing out & sending cheques/ DD's or pay orders to the payee.

(ii) Free from the worry of payment instruments getting lost/misplaced in transit.

http://www.icicibank.com/Personal-Banking/onlineservice/online-services/FundsTransfer/fund-transfer.html#tfother

http://www.icicibank.com/Personal-Banking/onlineservice/online-services/FundsTransfer/fund-transfer.html#tfnon


(iii) Transact from the comfort of their home or office through ICICI Bank Internet

Banking.

(iv) Transfer money to any ICICI Bank account, anywhere in India.

(v) Transfer money to specified non-ICICI Bank accounts in over 100 cities across

India.

With Funds Transfer on iMobile Current ICICI Bank iMobile customers registered

and activated on or before October 8, 2008, can now make financial transactions of

upto Rs.5,000 per day for funds transfer and Rs.10,000 per day for bill payment. This

is accordance to the new Mobile Banking guidelines issued by Reserve Bank of India

on October 8, 2008.

Transfer funds to customers’ own linked ICICI Bank accounts

Transfer funds instantly between any of their ICICI Bank accounts that are

linked to customers’ Internet Banking User ID.

Transfer funds to other ICICI Bank accounts, anywhere in India

Customers need to register themselves and confirm the ICICI Bank Account

number to which customers wish to transfer funds and through this service customers

can transfer funds instantly to the registered account number.

Transfer funds to specified Non-ICICI Bank accounts

Customers can transfer funds to other bank accounts across India to any bank

which is enabled with IFSC codes. The maximum amount for NEFT transactions is

Rs 200,000. To transfer funds, customer need log on to www.icicibank.com to

complete one-time registration and confirmation of the Third Party bank account.

iMobile

iMobile offers a range of services in a simple consolidated menu. Now

customers can make banking transactions like funds transfer, bill payment, balance

enquiry, locate a branch and view last 5 transactions and much more on their mobile

phones through iMobile.


iMobile is a rich client based application that downloads instantly onto

customers’ mobile phone and functions similar to any other mobile application menu.

With its newer features, smarter interface, quicker navigation and enhanced

functionality, iMobile is too simple & easy to use.

Now iMobile powered with mShop not only gives customers a convenient

banking solution, but also gives the facility to purchase and pay for goods and

services using mobile phones.

Receive Funds

Customers who often transfer money from non-ICICI Bank accounts to their

accounts with ICICI Bank through Cheques, Demand Drafts, Money Orders or Pay

Orders, ICICI Bank offer a unique solution, Receive Funds, which allows customers

to transfer funds into their ICICI Bank account whenever they want. Customers could

also choose to set standing instructions for recurring transfer.

Online Tax Payment

Pay Direct Tax and Indirect Tax Online:

Customers can pay their Direct or Indirect Tax Online in 7 easy steps:

1. Tax payers to select the relevant challan from NSDL site.

2. Taxpayers to enter their PAN / TAN / Assessee code as applicable. There will

be an online check on the validity of the PAN / TAN / Assessee code entered.

3. If PAN/ TAN/ Assessee code is valid the taxpayer will be allowed to fill up

other challan details like accounting head code / Major head code under which

payment is made, name and address of PAN/TAN and also select ICICI Bank

through which payment is to be made.

4. On submission of data entered a confirmation screen will be displayed. If the

taxpayer confirms the data entered in the challan, it will be directed to the net-

banking site of ICICI Bank.

5. The taxpayer will login to the ICICI Bank internet-banking site with the User

id/ Password provided by the ICICI Bank (Retail Internet Banking).

6. Taxpayer to enter payment details and authorize the payment.


7. On successful payment a challan counterfoil will be displayed containing CIN,

payment details and Bank name through which e-payment has been made.

This counterfoil is proof of payment being made.

Customers can also log in to download their Direct or Indirect Tax payment

acknowledgment for last three months of payments made through ICICIBank.com

from eTax challan link in Bank Accounts section.

Following Taxes can be paid through Online Tax Service:

Tax Deducted at Source

Income Tax

Corporation Tax

Security Transaction Tax

Hotel Receipts Tax

Estate Duty

Interest Tax

Wealth Tax

Expenditure Tax

Gift Tax

Banking Cash Transaction Tax

Fringe Benefits Tax

Indirect Tax - Central Excise Tax

Indirect Tax - Service Tax

Online Prepaid Mobile Recharge

Customers can recharge Prepaid Mobile from the comfort of home or office,

anytime, anywhere with Prepaid Mobile Recharge Facility on ICICIBank.com.

Now customers no longer need to rush to the vendor for buying recharge

cards, every time their talk time runs out. This service is absolutely free for all ICICI

Bank Account holders.


DTH Recharge

Customers recharge DTH Connection from the comfort of home or office,

anytime, anywhere with Prepaid Recharge Facility on ICICIBank.com. This service is

absolutely free for all ICICI Bank Account holders.

Smart Money Order

ICICI Bank's Smart Money Order allows customers to send money anytime,

anywhere in India. Customers required to log on to ICICIBank.com and enter the

address of the receiver and the amount would be sent to the receiver. The funds will

be delivered to the beneficiary's doorstep. ICICI Bank's Smart Money Order facility

has been launched in partnership with India Post (The Department of Posts, Ministry

of Communication and Information Technology, Government of India).

The ICICI Bank Edge

It helps in avoiding cumbersome DDs, cheques and pay orders.

Customers can send money anywhere in India, no restrictions on cities or

towns.

Customers can transact from home, office or just about anywhere else through

ICICIBank.com.

The money sent by customer is delivered to the receiver's doorstep.

Customers can get confirmation of the delivery of money to the receiver.

Customers can send money to anyone, even if the receiver does not hold a

bank account.

Pay Visa Credit Card

Customers can pay any Visa Credit Card. It is a revolutionary service that

allows customers to transfer money from their Bank account to any other Visa Credit

Card, anytime, anywhere in India.

Customers can send money to over 27 Million Visa Cardholders across 150

cities in India.

Customers can send money to any Visa Credit Card issued in India.


Donate Online

Through GiveIndia, ICICI Bank now provides the facility to make a difference

to India's underprivileged - online, anytime, from anywhere. Customers can choose

from over 140 NGOs that have met high standards of credibility. When customers use

GiveIndia's online donation platform and complete their donation, they will

immediately receive a receipt from GiveIndia, which can be used for tax purposes.

Customers will also get a feedback report six months later on how their money has

been utilized. Never before has it been so easy and convenient to reach out and help

the needy. Make all the donations from the convenience of home or office with Quick

Donate.

ICICI Bank has partnered with GiveIndia.org to help customers better the lives

of India's poor. For as little as Rs. 100 p.m. customers can set up a Standing

Instruction with ICICI Bank. This sum will be periodically deposited with GiveIndia

for customers to make a donation at a later date.

All they need to do is sign up for the Standing Instructions programme to help

better the lives of India's poor quickly and easily.

ONLINE LOAN

In this facility customers can enjoy following services:

Online application

Online Sanction

Special offers for customers

ONLINE SHARE TRADING

Customers can perform share trading activities online through internet banking

services.

ONLINE SHOPPING

Customers can shop online even sitting at their home without visiting the market.

FOREX TRADING SERVICES

Customers can avail the online forex trading services through internet banking.


5.2 HDFC BANK

HDFC Bank was incorporated in 1994 by Housing Development Finance

Corporation Limited (HDFC), India's largest housing finance company. It was among

the first companies to receive an 'in principle' approval from the Reserve Bank of

India (RBI) to set up a bank in the private sector. The Bank started operations as a

scheduled commercial bank in January 1995 under the RBI's liberalisation policies. In

2008 HDFC Bank acquired Centurion Bank of Punjab taking its total branches to

more than 1,000. The amalgamated bank emerged with a base of about Rs. 1,22,000

crore and net advances of about Rs.89,000 crore. The balance sheet size of the

combined entity is more than Rs. 1,63,000 crores.

HDFC Bank Limited is a major Indian financial services company based in

India, incorporated in August 1994, after the Reserve Bank of India allowed

establishing private sector banks. The Bank was promoted by the Housing

Development Finance Corporation, a premier housing finance company (set up in

1977) of India. HDFC Bank has 1,986 branches and over 5,471 ATMs, in 996 cities

in India, and all branches of the bank are linked on an online real-time basis. As of 30

Sept 2008 the bank had total assets of Rs.1006.82 billion. For the fiscal year 2010-11,

the bank has reported net profit of 3,926.30 crore (US$796.25 million), up 33.1%

from the previous fiscal. Total annual earnings of the bank increased by 20.37%

reaching at 24,263.4 crore (US$4.92 billion) in 2010-11.

It is one of the Big Four banks of India, along with State Bank of India, ICICI

Bank and Punjab National Bank—its main competitors.

Table 8: Private Sector Banks: HDFC Bank

(Amount in crore)

Items 2006-

07

2007-

08

2008-

09

2009-

10

2010-

11

Group

Aggregate

2010-11

All

Banks’

Aggregate

2010-11

No. of offices 666 745 1422 1729 1963 11968 76696

No. of employees 21477 37386 52687 51888 55752 218679 1004182


lakh)

607.00 506.00 446.00 590.00 653.00 823.26 987.38

http://en.wikipedia.org/wiki/Reserve_Bank_of_India


http://en.wikipedia.org/wiki/Centurion_Bank_of_Punjab

http://en.wikipedia.org/wiki/Financial_service

http://en.wikipedia.org/wiki/India


http://en.wikipedia.org/wiki/Housing_Development_Finance_Corporation

http://en.wikipedia.org/wiki/Housing_Development_Finance_Corporation

http://en.wikipedia.org/wiki/Assets

http://en.wikipedia.org/wiki/Crore

http://en.wikipedia.org/wiki/United_States_dollar

http://en.wikipedia.org/wiki/Crore

http://en.wikipedia.org/wiki/United_States_dollar

http://en.wikipedia.org/wiki/Big_Four_(banks)#India

http://en.wikipedia.org/wiki/State_Bank_of_India

http://en.wikipedia.org/wiki/ICICI_Bank

http://en.wikipedia.org/wiki/ICICI_Bank

http://en.wikipedia.org/wiki/Punjab_National_Bank


Profit per employee (in

lakh)

6.13 4.97 4.18 5.98 7.37 8.10 7.00


surplus

6433 11497 14652 21522 25379 138589 509813

Deposits 68298 100769 142812 167404 208586 1002759 5616432

Investment 30565 49394 58818 58608 70929 422020 1916053

Advances 46945 63427 98883 125831 159983 797534 4298704

Interest income 6648 10115 16332 16173 19928 96827 491665

Other income 1516 2283 3291 3983 4335 20726 79564



Cost of Fund (CoF) 4.58 5.24 6.92 4.66 4.64 4.56 4.73

Return on advances

adjusted to CoF

5.99 7.38 8.04 6.11 5.91 5.11 4.45

Wages as % to total

expenses

13.87 15.07 15.50 16.68 17.15 14.54 17.05

Return on Assets 1.33 1.32 1.28 1.53 1.58 1.43 1.10

CRAR 13.08 13.60 15.69 17.44 16.22 16.46 14.17

Net NPA ratio 0.43 0.47 0.63 0.31 0.19 0.56 0.97


NET BANKING

The e-banking service provided by HDFC bank is called Net Banking.

Through net banking customers can avail ‘anywhere anytime’ banking through their

computers.

NETBANKING on MOBILE

Today, mobile phone itself works as a bank. Now banking customers can

reach to their accounts and avail various banking services through HDFC mobile

banking service. It enables customers to not only avail all the required information

about their bank account on their mobile screen, such as, balance details etc., as well

as can transfer their funds also. Customer can do it on mobile phone through Net

Banking on Mobile. On Internet enabled mobile handset, customer can conduct

transactions on a WAP site specifically configured for mobile phones.


Through Mobile Banking service, HDFC Bank customers can avail following services

on their mobile phones:

1. Transfer of fund

2. View bank account balance details

3. Have last three transaction details

4. Request a cheque book

5. Enquire cheque status

6. Request an account statement

7. Have Fixed Deposit details

8. Request for I-PIN generation

9. View account statements

10. Transfer funds between accounts

11. Request stop payments

12. Pay utility bills

13. Create fixed deposit online

Customer can access HDFC Bank Mobile Banking service using SMS on

mobile phone. Customers can access their account balance, mini statement, account

statement etc using based SMS service. HDFC Bank Mobile Banking is also available

on ngpay wherein besides the above mentioned non financial transactions, customers

can also perform funds transfers and shop for select merchants and make payments

using their HDFC Bank account.

Mobile Banking on ngPay

Customer can also access account and carry out funds transfer using HDFC

Bank Mobile Banking on ngpay. Customer need to have a GPRS enabled mobile

phone for downloading and using ngpay on mobile phone. To provide simpler

banking system HDFC Bank offered mobile banking services on ngpay. The ngpay

provides a number of banking services woth collaboration of its network partners. It

works as consolidated menu from which customers can choose service provider to

avail their services. Such as:


1. Customers can avail mobile banking and payment services including

fund transfer service within India through ngpay.

2. Customers can search for movie show times and can book tickets of

Fame Cinemas and INOX Cinemas through ngpay on their mobile

phones.

3. Through ngpay customers can book their travel tickets on IRCTC,

Deccan, make-my-trip, yatra, redBus.

4. Customers can buy and ship products to anyone , anywhere in India

from Frens N Petals, Archies, FutureBazar through ngpay facility.

5. Through ngpay HDFC customers can manage their BPL mobile

account.

HDFC Bank customers can make payment of above mentioned services using

HDFC Bank Direct Pay or HDFC Bank credit card. HDFC Bank can send the ngpay

application to their customers’ mobile phones on their request.

Additional to above, customer can avail of existing services such as

View account summary or fixed deposit summary

Request for statements or cheque book or stop payment

Transfer of funds including funds transfers to other bank customers

Utility bill payments

Credit Card payments etc.

CREDIT cards ONLINE

The HDFC Bank Net Banking service is now available for Credit Cards also.

Now using HDFC Bank Credit Card has become more convenient and time saving.

Customers can now access their Credit Card account from home or office or even

while traveling. With NetBanking customers can view their card account information

and do much more just at the click of a button. Currently the following Credit Cards

Netbanking features are available:-


View

1. Account Information

2. Unbilled Transactions

3. Credit Card Statement

4. Download Card Statement (up to last 6 months)

Request for

1. Autopay Register (Only for HDFC Bank account holders)

2. Autopay Deregister

3. Statement on E-Mail

4. Credit Card ATM PIN

5. Register New Card

6. Deregister Card

7. Credit Card Payment (Only for HDFC Bank account holders)

This service is offered completely free and customers can be assured of

complete privacy when they use the Net Banking facility.

InstaAlert

Now customers can get regular updates on their bank account on their mobile

phone or email ID. Customers need to register for the InstaAlert service and receive

updates on their account as and when the select transaction happens - all this without

visiting the branch or ATM.

Customers can register for any or all of the following alerts:

(a) Debit transactions greater than Rs. 5,000/ Rs.10, 000/ Rs. 20,000/Rs. 50,000

(b) Credit in account greater than Rs. 5,000/ Rs.10, 000/ Rs. 20,000/Rs. 50,000

(c) Account Balance below Rs. 5,000/ Rs.10, 000/ Rs. 20,000/Rs. 50,000-

(d) Weekly account balance

(e) Salary Credits*

(f) Utility bill payment due Alert**

* The customer needs to have a Corporate Salary account with HDFC Bank

** to avail this alert the customer needs to be registered for the Bill Pay

service. Also, this is applicable only to the presentment / biller companies.


ATM

With wide spread network of 6,520 ATMs across India, customers can enjoy

the following benefits at their convenience-

(a) 24-hour access to Cash - Withdraw up to Rs.15, 000/- per day on the ATM

Card and Rs. 25,000/- or more on the Debit Card (depending on the type of

card held).

(b) Personalised Cash Withdrawals – Save time on cash withdrawal transactions

by pre-setting the preferred language / account / amount.

(c) View Account Balances & Mini-statements – Customers can get details of the

last 9 transactions on account with the mini-statement, along with the account

balance.

(d) Change ATM PIN – Customers can change the ATM PIN at any given point

in time.

(e) Order a Cheque Book / Account Statement- Customers can order a cheque

book or their account statement through ATM.

(f) HDFC Bank Credit Card Payment- Customers can make payment of their

HDFC Bank Credit Card dues using the ATM. The primary account of

customer’s Debit / ATM card will be debited.

(g) Deposit Cash or Cheques - Deposit Cash or Cheques into account without

visiting the Branch. This facility is also available at Non-Branch HDFC Bank

ATMs.

(h) Transfer Funds between accounts – Transfer money between accounts. Both

accounts must be linked to the ATM / Debit Card. Maximum of 16 Accounts

(Savings / Current) can be linked to a card.

Refill Prepaid Mobile

Customers can refill prepaid mobile using Prepaid Mobile Refill service instantly.

Pay Utility Bills

Customers can pay the mobile, telephone and electricity bills through the ATM using

BillPay, a comprehensive bill payments solution.

Cheque Status Enquiry


Customers can get information about status of the cheque issued from customers’

account.

NetBanking Password Request

Customers can request for the NetBanking Password (IPIN) and the same will be

dispatched to the recorded mailing address.

Cash@SHOP

It is a new service from HDFC Bank which allows customers to withdraw

cash using their debit card at select merchant outlets.

Features & Benefits

HDFC Bank Debit Card is ready and offering this facility to the customers.

Maximum withdrawal limit of Rs.1000/- per day

Withdraw cash with or without making purchases on the card.

Pay only a nominal fee each time customers transact.

TOOLS & TECHNIQUES

Here customers can find online tools and utilities to help them make informed

financial decisions. Customers can also learn more about the product features by

browsing through the interactive product demos.

Calculators

1. Accounts & Deposits: RD calculator

2. Loans: Two & Four wheelers loan EMI calculator

3. Investment & Insurance

EMAIL STATEMENTS

Customers can receive the account statements via email without any delays for

the Savings and Current Accounts. Customers also have the option to maintain the

statement on email, print it or save it on a CD. The account information is now

available to customers at the click of a button with email statements.

Features & Benefits

1. Email statements are free


2. Monthly email statements for the Savings Account

3. Opt for daily or weekly or monthly email statements for the Current

Account

4. Physical statements will be discontinued if customers opt for email

statements

5. Based on the date of account opening, it follows a staggered cycle

6. Even if customers are registered for hold mails, they can opt for email

statements

7. Get information on the new products and mandatory information

online.

8. Email statements will be non-combined statements

9. Transfer fund to any account in India

10. Send Traveller’s Cheques or Demand Drafts for credit to customers’

NRI Account

11. Use a Product Finder to choose a Money Transfer Option

Phone Banking

Phone Banking services are a combination of IVR and Agent offering,

depending on the type of transaction. For all transactions that cannot be completed on

the IVR such as reporting loss of cards, logging complaints, requests & queries,

Phone Banker-assisted services are available.

Features & Benefits

1. Get up-to-the-second details of the Savings or Current Accounts and

Fixed Deposits

2. Get the details of the last 5 transactions on the account.

3. Enquire on the status of cheques issued or deposited anywhere in

India#

4. Order a Cheque Book / Account statement to be delivered to the

mailing address.

5. Stop payment of a single cheque or a series of cheques, 24 hours a day

6. Get details of the outstanding loan amount, enquire about the loan

account, request for an interest certificate and repayment schedule, etc

#.

http://www.hdfcbank.com/nri_banking/money_transfer/USA/QuickRemit.htm

http://www.hdfcbank.com/nri_banking/money_transfer/USA/tele_wire_transfer.htm

http://www.hdfcbank.com/nri_banking/money_transfer/USA/tele_wire_transfer.htm

http://www.hdfcbank.com/nri_banking/accounts/help_me_choose_an_account.htm


7. Open a Fixed Deposit or enquire about the Fixed Deposits / TDS#

8. Transfer funds between Accounts linked to the Customer ID

9. Pay cellular, telephone & electricity bills using BillPay

10. Call Phone Banking to report Loss of the ATM / Debit / Prepaid Card.

This service is available 24 hours on all days.

11. Get details on HDFC Bank products and services by talking to the

Phone Banker.

12. Enquire about latest interest / exchange rates by talking to the Phone

Banker.

# This is a Phone Banker-assisted facility & is available only between 8:00 am

to 8:00 p.m. IST on all the days including Sundays & Bank Holidays for all

Phone Banking numbers except Bihar & Jharkhand. (In Bihar & Jharkhand,

Phone Banker-assisted services available between 9:30 a.m. to 6:30 p.m IST

on weekdays & 9:30 a.m. to 1:30 p.m IST on Saturdays only. The facility is

not available on Sundays & Bank Holidays in India.

NRI SERVICE DESK / OVERSEAS P.O. BOXES

At HDFC Bank, Bank makes it easier for customers to reach to the bank from

across the world. Keeping in mind the global reach of the esteemed NRI customers,

the PO Box facility is available for them in USA, UK, UAE, Australia, Canada, Saudi

Arabia, Singapore, Germany, Bahrain, Thailand and Malaysia.

Customers no longer have to incur expensive courier charges to send Bank

account instructions. All they need to do is simply mail their instruction to a local PO

Box in their country overseas. This facility is available to customers free of charge.

Customers can send following via P.O. Box-

1. PIN generation (Phone Banking Pin, Internet Banking Pin)

2. PIN generation (Duplicate ATM / Debit Card Pin)

3. ATM/ Debit Card / Mandate card re-issuance request

4. e-Age Banking Form

5. Third party transfer facility

6. Account Statement Request


7. Joint Applicant inclusion request.

8. Change of Account Operating Instructions.

9. Change of Address.

10. Change of maturity instructions for Term Deposits.

11. Booking request for New / Add-On Term Deposits

12. Super Saver request

13. Sweep in facility request

Customers need to do following-

Send their documents to HDFC Bank in 3 simple steps:

1. Download the relevant form

2. Fill the form and attach relevant documents (If required)

3. Send it through ordinary post to the P.O. Box address nearest to their location.

Please ensure that customers mention their Name, Customer Id and Account

number with each request

On receipt of the request, an acknowledgement email will be sent to customers

on the email id maintained on the Bank records. Bank will not be in a position to act

on the request if an email id is not available on the Bank records. Customers can write

to [email protected] in case they need to send instruction apart from those listed

above. Customers can send only the above listed 11 requests through the P.O. Box.

The indicative delivery schedule for documents despatched through the P.O. Box is

approximately 10-12 days for US and 8-10 days for other locations.

Caution

Customers should not send any other document or instruction, including, but

not limited to, Cheques, Demand Drafts or cash using the P.O. Box. HDFC Bank

reserves the right to destroy such instruments or return them back to customers, at its

discretion. Only the above listed requests will be accepted by the NRI Service Desk

through the P.O. Box. Customers can write to [email protected] in case they need

to send instruction apart from those listed above.


5.3 STATE BANK OF INDIA (SBI)

State Bank of India is India's largest bank with a network of over 13000

branches and 5 associate banks located even in the remotest parts of India. State Bank

of India (SBI) offers a wide range of banking products and services to corporate and

retail customers.

SBI originated in the early 19th

Century when Bank of Bengal which was

earlier known as Bank of Calcutta, was established on 2 June 1806. There were three

Presidency banks in India, one of which was the Bank of Calcutta and the other two

were Bank of Bombay, founded on 15 April 1840 and the Bank of Madras,

established on 1 July 1843. These were established in the form of Joint Stock

Company and were result of the royal charters. In 1861, Presidential Banks got the

exclusive right to issue banknotes under Paper Currency Act till the formation of RBI.

On 27 January 1921, all the Presidency Banks were amalgamated and formed the

Imperial Bank of India. It was also incorporated as a Joint Stock company.

RBI, the central bank of India acquired a controlling interest in the Imperial

Bank of India in accordance with the provision of the State Bank of India Act (1955).

Later the Imperial Bank of India renamed as State Bank of India on 30 April 1955.

Recently, government of India acquired the RBI’s stake in SBI to avoid the conflict of

operating interests as it was the regulatory authority in Indian Banking.

To enable the SBI to take over 8 former state- associated banks as its

subsidiaries, government of India passed the State Bank of India (Subsidiary Banks)

Act in 1959. One of its associates, the State Bank of Saurashtra amalgamated in SBI

on 13 September 2008.

SBI has acquired local banks in rescues. For instance, in 1985, it acquired the

Bank of Cochin in Kerala, which had 120 branches. SBI was the acquirer as its

affiliate, the State Bank of Travancore, already had an extensive network in Kerala.

On the basis of total turnover and total assets, SBI is the largest banking and

financial services company in India. SBI’s head quarter is in Mumbai, India. SBI is a

state owned banking institution. In 1955, the government of India nationalised the


Imperial Bank of India with 60% stake of RBI in it and renamed it the State Bank of

India. The government of India took the RBI’s stake in SBI in 2008.

SBI is catering the customers residing in India and overseas with a vast range

of banking products through its intensive and large network of branches. The State

Bank Group has the biggest banking branch network with over 16000 bank branches

in India and 130 branches overseas. It has 14 local head offices and 57 zone offices

that are located at the big cities all over the India.

SBI is the one of the biggest financial institution with an asset base of

$352 billion and $285 billion deposits around the globe. It acquired 20% market share

in deposits and loans among Indian commercial banks. According to a report by

Forbes, SBI has 29th

position in the list of most reputed company in the world. Also in

an annual survey conducted by Brand Finance and The Economic Times, SBI is the

only bank featured in the coveted “top 10 brands of India” in 2010.

The SBI is the largest bank of India and its main competitors are ICICI Bank,

Punjab National Bank and HDFC Bank.


Table 10: SBI & its Associates: State Bank of India

(Amount in crore)

Items 2006-

07

2007-

08

2008-

09

2009-

10

2010-

11

Group

Aggregate

2010-11

All

Banks’

Aggregate

2010-11

No. of offices 9679 10683 12034 13094 13929 18772 76696

No. of employees 185388 179205 205896 200299 222933 282453 1004182


lakh) 357 456 556 636 704.65 793.06 987.38

Profit per employee (in lakh) 2.37 3.73 4.74 4.46 3.85 4.20 7.00


surplus 31299 49033 57948 65949 64986 84394 509813

Deposits 435521 537404 742073 804116 933933 1245862 5616432

Investment 149149 189501 275954 295785 295601 385697 1916053

Advances 337336 416768 542503 631914 756719 994154 4298704

Interest income 37242 48950 63788 70994 81394 109828 491665

Other income 6765 8695 12691 14968 15825 19240 79564



Cost of Fund (CoF) 4.55 5.64 5.72 5.14 4.67 4.80 4.73

Return on advances adjusted

to CoF 3.74 3.70 3.95 3.48 3.97 4.05 4.45

Wages as % to total expenses 23.33 17.48 16.64 18.86 20.14 19.21 17.05

Return on Assets 0.84 1.01 1.04 0.88 0.71 0.79 1.10

CRAR 12.34 13.54 14.25 13.39 11.98 12.25 14.17

Net NPA ratio 1.56 1.78 1.79 1.72 1.63 1.49 0.97



SBI provides its e-banking service with the name of Online SBI. This service

offers ‘anywhere anytime’ banking to its retail and corporate customers. The

infrastructure of SBI provides a unified and secure support to e-banking to access

banking services for accounts in over 13,000 branches across India.

This e-banking facility provides various retail financial services. These are as

follows:

1. Customers can have Demand Drafts online

2. Customers can transfer their fund to own and third party accounts

3. Customers can credit beneficiary accounts using RTGS or NEFT feature

4. Customers can generate account statements

5. Customers can setup standing instructions

6. Customers can configure profile settings

7. Customers can pay tax online using eTax service

8. Customers can Use ePay for automatic bill payments

9. Customers can interface with merchants for railway and airline reservations

10. Customers can avail DEMAT and IPO services

11. Customers can pay Visa Credit Card bill.

The e-banking service of SBI offers various online services to its corporate

clients. These are as follows:

1. Customers can access accounts in several branches with a single sign-on

mechanism

2. Customers can upload files to make bulk transactions to third parties, supplier,

vendor and tax collection authorities.

3. Customers can use online transactional features such as fund transfer to own

accounts, third party payments (both Inter and Intra bank), and draft issues

4. Customers can make bill payments over the Internet.

5. Customers can authorize, modify, reschedule and cancel transactions based on

rights assigned to the user

6. Customers can generate account statement

7. Customers can enquire on transaction details or current balance


Additional to the above mentioned e-banking services, SBI provides following

value added services as well:

1. Tax payments service to central and state governments through site to site

integration.

2. Supply Chain Finance service as Electronic Vendor Finance Scheme (e-VFS)

3. Direct Debit Facility

4. E-Collection Facilities for:

(a) Core Banking Transactions

(b) Inter Bank Transactions for incoming RTGS or NEFT Transactions

(c) E-Banking Transactions for SBI & Associate Banks

(d) Direct Debit facility to the suppliers, with this suppliers can directly

debit their customer’s account through E-Banking

Net banking for visually challenged:

Online SBI Internet Banking Facility

Following are the access key details to navigate the site

(a) Description

(b) Press Alt 0 To lock Internet access to your accounts

(c) Press Alt 1 To view Help

(d) Press Alt 2 To Login

(e) Press Alt 7 To view Instruction

(f) Press Alt 8 To view FAQ

The following shortcut keys are used to access the Post Login pages

(a) Press Alt 3 For Account Summary

(b) Press Alt 4 For transfer funds

(c) Press Alt 5 For Changing your Password

(d) Press Alt 6 For Transaction Summary page

(e) Press Alt b For Bill Payment page

(f) Press Alt g For Profile page

(g) Press Alt 8 To view FAQ

(h) Press Alt 9 To Logout


Secure Card Transactions

State Bank of India offers the following services for safe and secure paperless

banking:

State Bank ATM-cum-Debit Card: State Bank of India offers unparalleled

convenience through State Bank ATM-cum-Debit card. With this card, there is no

need to carry cash in the wallet. Customers can now withdraw cash and make

purchases anytime they wish to with their ATM-cum-Debit card. Customers can use

their ATM-cum-Debit card to transact for FREE at any of over 20,000 ATMs of any

bank in State Bank Group within the country.

Verified by Visa (VBV): It is an easy to use, secured online payment service from

State Bank of India in association with VISA that lets customers shop securely online

with their existing State Bank of India Visa Debit Card. This service through a simple

checkout process, confirms identity when customers make purchases on the Internet.

Verified By VISA Service allows customers to create a password and it protects their

online transactions just like customers use their PIN at the ATM.

Maestro Card/Master Card Secure Code: It is a new service from State Bank of

India, in association with MasterCard that lets customers shop online securely with

their existing State Bank of India Debit Card which may be used only on merchant

websites that subscribe to services of "MasterCard® SecureCode™". Secure Code

Service confirms their identity through a simple check process when they make online

purchases. Secure Code Service allows customers to create a password and it protects

their online transactions.

Bill Payment

SBI e-PAY - A simple and convenient service for receiving and paying customers’

bills online. It provides following benefits to the customers:

No more late payments

No more queues

No more hassles of depositing cheques


Online Pay: Using SBI e-PAY customers can 'see and pay' their various bills online,

directly from their SBI Account. Customers can pay telephone, electricity, insurance,

credit card and other bills - from the comfort of the home or office, 24 hours a day,

365 days a year. For this customers have to simply logon to https://www.onlinesbi.com/

to 'see and pay' their bills. They also get an electronic acknowledgment for every bill

paid by them using e-PAY.

AutoPay: Customers can also set up AutoPay instructions with an upper limit to

ensure that their bills are paid automatically whenever they are due. The upper limit

ensures that only bills within the specified limit are paid automatically, thereby

providing customers complete control over these payments.

The e-PAY service is available in various cities across the country and

customers can now make payments to several billers in the region.

Customers have to login to https://www.onlinesbi.com and use the 'Add Biller'

feature to select the billers customers wish to make payments to start receiving and

paying the bills online. Alternately, customers can also fill the SBI e-PAY

Registration Form (SeRF) available at their SBI branch and submit it to the branch.

5.4 BANK OF BARODA (BoB)

After SBI and PNB, Bank of Baroda stands at 3rd

position in the list of largest

banks in India. According to the Forbes Global List, BoB ranked 763 in 2000. It has

total assets around Rs. 3583 billion. It has a wide network of banking with over 3409

branches and offices and around 1657 ATMs. In coming future, it has planned to open

400 more banking branches. It caters both the kind of customers, corporate and retail

customers by providing a large range of banking and financial products and services

through various delivery channels and its specialized subsidiaries. It also affiliates in

the area of asset management services, investment banking and credit cards. It has

total business of Rs. 5452 billion.


In 2010, BoB has 78 branches in abroad and this number crossed 90 in the

financial year 2011. BoB opened its first branch in Auckland and New Zealand and its

10th

branch in UK in 2010. Same time bank was planning to open 5 branches in Africa

as well. Other than branches, bank plans to open its three outlets in Persian Gulf

Region with ATMs having couple of bank staff.

This bank was founded by Sir Sayajirao Gaekwad III, the Maharaja of Baroda

on 20 July 1908 in the princely state of Baroda, in Gujrat. Along with the other 13

major banks functioning in India, government of India nationalised BoB on 19July

1969.

Subsidiaries

BOB Capital Markets Ltd. (BOBCAPS) is a entirely owned subsidiary of

BoB. It is an investment banking company registered with SEBI. It is based in

Mumbai, India. BOBCAPS’ financial service set includes Initial Public Offerings,

private placement of debts, corporate restructuring, Business valuation, mergers &

acquisition, project appraisal and loan syndication.

Bank of Baroda financials 2013

Revenues Rs. 10,262 crores

Assets Rs. 5,47,135 crores

http://en.wikipedia.org/wiki/Initial_Public_Offerings

http://en.wikipedia.org/wiki/Private_placement

http://en.wikipedia.org/wiki/Restructuring

http://en.wikipedia.org/wiki/Project_appraisal

http://en.wikipedia.org/wiki/Loan_syndication


Table 11: Nationalised Banks: Bank of Baroda

(Amount in crore)

Items 2006-

07

2007-

08

2008-

09

2009-

10 2010-11

Group

Aggregate

2010-11

All

Banks’

Aggregate

2010-11

No. of offices 2812 2931 3006 3182 3447 45640 76696

No. of employees 38604 37260 36440 38152 39385 475082 1004182

Business per employee

(in lakh) 555.00 710.00 914.00 981.00 1333.00 1144.77 987.38

Profit per employee (in

lakh) 2.73 3.94 6.00 8.00 11.00 6.95 7.00


surplus 8650 11044 12880 15106 20993 205857 509813

Deposits 124916 152034 192397 241262 305439 3127122 5616432

Investment 34944 43870 52446 61182 71261 942837 1916053

Advances 83621 106701 143251 175035 228676 2311478 4298704

Interest income 9004 11813 15092 16698 21886 256490 491665

Other income 1382 2051 2758 2806 2809 28625 79564



Cost of Fund (CoF) 4.58 5.33 5.25 4.37 4.19 4.93 4.73

Return on advances

adjusted to CoF 3.69 3.51 3.71 3.51 3.83 4.27 4.45

Wages as % to 20.63 17.41 17.34 16.14 16.47 16.41 17.05

total expenses

Return on Assets 0.80 0.89 1.09 1.21 1.33 1.03 1.10

CRAR 11.8 12.94 14.05 14.36 14.52 13.47 14.17

Net NPA ratio 0.60 0.47 0.31 0.34 0.35 0.92 0.97



Baroda Internet Banking

The e-banking service offered by BoB is named as "Baroda Connect".

Through this BoB provide ‘anywhere anytime’ banking. Through this service BoB

provides customized financial services to retail as well as corporate customers.

Through ‘Baroda Connect’ customers can avail following services:

1. Customers can view their deposit and loan account summary

2. Customers can view all multiple account information online with a single user

id

3. Customers can view their account statements

4. Customers can transfer funds immediately or can schedule for a future date to

self linked and third party

5. Customers can pay direct and indirect taxes online

6. Customers can make payment of their utility bills, donations, subscription fee

and booking of travel plans online through Baroda Easy Pay

7. Customers can pay school or institutional fees

8. Customers can book railway tickets

9. Customers can set up multiple workflow of initiators and approvers for

transactions and requests

10. Customers can view all financial facilities availed, such as, Export or Import

LC, Inland or Export Bills, Forward Contracts Bank Guarantees, Packing

Credit account etc.

11. Customers can use uploads facility for single debit-multiple credit, multiple

debit-multiple credit and single credit-multiple debit.


Table 13: Limit for Fund transfers under Baroda Connect

Services Retail Corporate

Third Party Self Third Party

Fund Transfer *

Per transaction 50,000 5,00,000 50,000

Daily 1,00,000 10,00,000 1,00,000

Weekly 4,00,000 40,00,000 4,00,000

Monthly 10,00,000 1,00,00,000 10,00,000

Yearly 60,00,000 6,00,00,000 60,00,000

No. of transaction per day 5 transactions No limits

Approvals for Transactions: Individual can do Involvement of multiple users:

1. There is NO LIMIT on transfer of funds between self linked accounts within

Bank of Baroda for Retail Users

2. For corporate customers there can be different limits for different corporate

after approval from the respective Zonal / Regional authority of the Bank

Process to apply

1. Download appropriate internet banking form from the Home Page - Click the

Link under "Download Application Form" to download form for RETAIL

Users / CORPORATE Users

2. Retail.- All Individual account holders should use the RETAIL form

3. Corporate - All non individuals i.e. companies, partnership firms, HUFs, Sole

proprietors should use CORPORATE form

4. The form should be duly filled in, signed by all signatories i.e. all joint

account holders in case of a joint account, all partners in case of a partnership

firm etc.

5. The form should be submitted through the base branch where the customer is

maintaining the account for processing.

6. Customer will get the User Id by post at the communication address


7. Passwords should be collected from BOB Branch where the application was

submitted against acknowledgement

Steps to be followed while logging for the first time

1. Open the Internet explorer browser and type www.bankofbaroda.com

2. Click on Net Banking and select Country

3. Select RETAIL USER or CORPORATE USER

4. The login page will be opened.

5. Type the User Id (received at customers’ communication address)

6. Password (received through the branch)

7. Click on Go button only once (Please note that the password is case sensitive).

8. The terms and conditions page will be opened.

9. After reading click on Agree button.

10. A screen will be displayed for changing the password. Please change both the

sign-on and transaction password in case customers have received both.

11. Note that the password must contain a minimum of 8 characters (maximum

16) comprising of an alphabet, a number and a special character. The

password should not be the same as the user id.

Additionally, the following functionalities under Baroda Connect are also

available: Click at Bank's website www.bankofbaroda.com at the appropriate link

To Payment of Indirect Taxes (Service Tax, Excise duty and Customs duty) or to

Payment of Direct Taxes ( Corporation Tax, Income Tax, TDS, Securities tax etc.)

CONCLUSION

Public as well as private banks, both are providing banking services through

online channel. As it said that “the first impression is the last impression”, same way

home page of any website play very important role. So, all the four banks have

designed their website in a very attractive manner. The websites of all the selected

four banks are quite informative as well as user friendly.

http://www.bankofbaroda.com/

chapter 5 e- banking services offered by banks

Documents