jyoti meena ji
TRANSCRIPT
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PROJECT REPORT
ON
E-BANKING PRACTICE
IN
HDFC BANK (C-Scheme Branch, Jaipur)
PROJECT SUBMITTED IN PARTIAL FULFILLMENT OF
THE DEGREE OF BACHELORS OF BUSINESS
ADMINISTRATION
SESSION 2009-10
Submitted to : Submitted by:Dr. Sarita Jain Jyoti MeenaAssociate Prof. BBA Final Year 2009-2010University Maharanis College
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UNIVERSITY MAHARANIS COLLEGE
CERTIFICATE
This is to certify that Miss Jyoti Meena Student of University
Maharanis College, Jaipur has prepared her project report entitled
APPLICATION OF E-BANKING with special reference to HDFC
Bank for the Degree of Bachelor of Business Administration (BBA).
She has worked under my guidance to the best of my knowledge and
belief. Her work is fit to be submitted for B.B.A. Programme.
SARITA JAIN(SUPERVISOR)
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ACKNOWLEDGEMENT
An endeavor to transform itself success needs efforts. These were the sincere
efforts of me to come up with this idea and taking it towards life.
Market research cant be done in isolation. It calls for at team spirit and this
team consists of all the people who have participated in this research. I take this
opportunity to express heartiest thanks my supervisor Dr. Sarita Jain who
contributed to the project through their valuable suggestions.
I express my gratitude towards my project guide Mr. Aditya Puri, ASST.
Manager for ushering us into this project and providing guidance needed to
complete this project.
Finally, I thank to god for giving us courage and strength in each and every
stage of the completion of this project.
(JYOTI MEENA)
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CONTENTS
1. Introduction 1-2
2. Concept of e-banking 3-13
3. Research Methodology 14-24
4. Application of e-banking in HDFC Bank 25-26
5. Data Analysis and Interpretation 27-32
6. Swot Analysis 32-33
Strength
Weakness
Opportunities
Threats
7. Suggestions & Conclusions
8. Bibliography and Weblography 37-38
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INTRODUCTION
Banks are among the main participants of the financial system in India. Banking
offers several facilities & opportunities. The commercial banking structure in
India consists of :Schedule Commercial Banks & Unscheduled Banks. Banking
Regulation Act of India 1949 defines Banking as accepting, for the purpose of
lending or investment of deposits of money from the public, repayable on
demand or otherwise and withdrawable by cheques, draft and order or
otherwise.
The Software Packages for Banking Applications in India had their beginnings
in the middle of 80s, when the Banks. Spurred on by RBI and the Rangarajan
Committee Report, started computerizing the branches.The arrival of foreign and private banks with their superior state of the art
technology based services pushed Indian Banks also to follow suit by going in
for the latest technologies so as to meet the threat of competition and retain
customer base.
HISTORY OF E-BANKING
The main purpose that banks have been serving since their inception is keeping
our money safe for us. While keeping our money safe, they also let us earn acertain amount of interest on the money deposited with them. Traditional banks
have been doing this, and internet banks continue the same function. The only
difference is in the way the transactions are made.
Online banking has been around for quite a few years. In fact, it was introduced
in the 1980s and has come a long way since then. The last decade has seen a
profuse growth in internet banking transactions. Several pieces of legislation
have also been introduced in this area.
Though it began in the 1980s, it was only in the mid nineties that internet
banking really caught on. What attracts customers to internet banking is the
round the clock availability and ease of transactions.
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Some customers have been known to turn to internet banking due to
dissatisfaction with standard procedures and practices. The total absence of
human interaction appeals to some people. Some customers turn to internet
banking facility for security reasons. This is mainly because of customers beingassured of banks ability to keep transactions safe and secured.
Most online transactions are made using the Internet Explorer interface. The
Internet Explorer has been around the more than ten years now.
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CONCEPT OF E-BANKING
E-BANKING / INTERNET BANKING
With cyber caf springing up in the cities the access net is going to be easy.
E-BANKING also referred to as INTERNET BANKING is latest in this seriesof technological wonders in the recent past involving the use of INTERNET for
the delivery of banking products and services. Internet banking (or E-banking)
means any user with a personal computer and a browser can get connected to his
bank-s website to perform any of the virtual banking functions. In internet
banking system the bank has a centralized database that is web-enabled. All the
services that the bank has permitted on the internet are displayed in menu. Any
service can be selected and further interaction is dictated by the nature of service. The traditional branch model of bank is now giving place to an
alternative delivery channels with ATM network. Once the branch offices of
bank are interconnected through terrestrial or satellite links, thee would be no
physical identity for any branch. It would a borderless entity permitting anytime,
anywhere and anyhow banking.
The Reserve Bank of India constituted a working group on internet
banking. The group divided the internet banking products in India into 3
types based on the levels of access granted. They are :
1. Information Only System :
General purpose information like interest rates, branch location, bank
products and their features, loan and deposit calculations are provided in
the banks website. There exist facilities for downloading various types of
application forms. The communication is normally done through e-mail.
There is no interaction between the customer and banks application
system. No identification of the customer is done. In this system, there is
no possibility of any unauthorized person getting into production systems
of the bank through internet.
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2. Electronic Information Transfer System
The system provides customer specific information in the form of account
balances, transaction details and statement of accounts. The information is
still largely of the read only format. Identification and authentication of the customer is through password.
3. Fully Electronic Transactional System:
This system allows bi-directional capabilities. Transactions can be
submitted by the customer for online update. This system requires high
degree of security and control. In this environment, web server and
application systems are linked over secure infrastructure. It comprises
technology concerning computerization, networking and security, inter
bank payment gateway and legal infrastructure.
Automated Teller Machine (ATM):
ATM is designed to perform the most important function of bank. It is operated
by plastic card with its special features. The plastic card is replacing cheque,
personal attendance of the customer, banking hours restrictions and paper based
verification. There are debit cards. ATMs used as spring board for Electronic
Fund Transfer. ATM itself can provide information about customers account
and also receive instructions from customers ATM cardholders. An ATM is an
Electronic Fund Transfer terminal capable of handling cash deposits, transfer
between accounts, balance enquiries, cash withdrawals and pay bills. It may be
on line or off line. The on line ATN enables the customer to avail bankingfacilities from anywhere. In Off line the facilities are confined to that particular
ATM assigned. Any customer possessing ATM card issued by the Shared
Payment Network System can go to any ATM linked to Shared Payment
Network and perform his transactions.
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Credit Card / Debit Cards
The Credit Card holder is empowered to spend wherever and whenever he wants
with his Credit Card within the limits fixed by his bank. Credit Card is a post
paid card. Debit Card on the other hand, is a prepaid card with some storedvalue. Every time a person uses this card, the Internet banking house gets money
transferred to its account from the bank of the buyer. The buyers account is
debited with the exact amount of purchases. An individual has to open an
account with the issuing bank which gives debit card with a Personal
Identification Number (PIN). When he makes a purchase, he enters his PIN on
shops PIN Pad. When the card is slurped through the electronic terminal, it dials
the acquiring bank system either Master Card or VISA that validates the PIN
and finds out from the issuing bank whether to accept or decline the
transactions. The customer can never overspend because the system rejects any
transaction which exceeds the balance in his account. The bank never faces a
default because the amount spend is debited immediately from the customers
account.
You can avail the following services through E-Banking
1. Bill Payment Service
You can facilitate payment of electricity and telephone bills, mobile
phone, credit card and insurance premium bills as each bank has tie-ups with
various utility companies service providers and insurance companies, across thecountry. To pay your bills, all you need to do is complete a simple one time
registration for each biller. You can also set up standing instructions online to
pay your recurring bills, automatically. Generally the bank does not charge
customers for online bill payment.
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2. Fund transfer :
You can transfer any amount from one account to another of the same or
any another bank. Customers can send money anywhere in India. Once
you login to your account, you need to mention the payees account
number, his bank and the branch. The transfer will take place in day or so,
whereas in a traditional method, it takes about three working days. HDFC
Bank says that online bill payment service and fund transfer facility have
been their most popular online services.
3. Credit Card Customers:
With internet banking, customers can not only pay their credit card bills
online but also get a loan on their cards. If you lose your credit card you
can report lost card online.
4. Railway Pass
This is something that would interest all the aam janta. Indian Railways
has tied up with HDFC Bank and you can now make your railway pass
for local trains online. The pass will be delivered to you at your doorstep.
But the facility is limited to Mumbai, Thane, Nashik, Surat and Pune.
5. Investing through Internet banking
You can now open an FD online through funds transfer. Now investorswith interlinked demat account and bank account can easily trade in the
stock market and the amount will be automatically debited from their
respective bank accounts and the shares will be credited in their demat
account. Moreover some banks even give you the facility to purchase
mutual funds directly from the online banking system.
Nowdays most leading banks offer both online banking and demat
account. However if you have your demat account with independent share
brokers, then you need to sign a special form, which will link your two
accounts.
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6. Regarding your prepaid phone:
Now just top up your prepaid mobile cards by logging in to internet
banking. By just selecting your operators name, entering your mobile
number and the amount for recharge, your phone is again back in actionwithin few minutes.
7. Shopping
With a range of all kind of products, you can shop online and the payment
is also made conveniently through your account. You can also buy
railway and air tickets through internet banking.
Advantage of Internet Banking
As per the Internet and Mobile Association of Indias report on online
banking 2006. There are many advantages of online banking:
1. It is convenient : it isnt bound by operational timings.
2. There are no geographical barriers and the services can be offered at a
miniscule cost.
3. Through Internet banking, you can check your transactions at any time
of the day, and as many times as you want to.
4. If the fund transfer has to be made outstation, where the bank does not
have a branch, the bank would demand outstation charges. Whereas
with the help of online banking, it will be absolutely free for you.
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INTERNET BANKING IN INDIA
The Internet banking is changing the banking industry and is having the major
effects on banking relationships. Internet banking involves use of Internet for
delivery of banking products & services. In other words a successful Internet banking solution offers:
1. Checking with no monthly fee, free bill payment and rebates on ATM
surcharges.
2. Credit cards with low rates.
3. Easy online applications for all accounts including personal loans and
mortgages.
4. 24 hour account access.
5. Quality customer service with personal attention.
DRIVERS OF CHANGE
Internet banking is a cost-effective delivery channel for financial institutions.
Customers are embracing the many benefits of internet banking. Access to ones
accounts at anytime and from any location via the World Wide Web is a
convenience unknown a short time ago. Thus, a banks Internet presence
transforms from broucherware status to Internet banking status once the bank
goes through a technology integration effort to enable the customer to access
information about his or her specific account relationship. The six primary
drivers Internet banking includes, in order to primacy are :
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- Improve customer access
- Facilitate the offering of more services
- Increase customer loyalty
- Attract new customers
- Provide services offered by competitors
INDIAN BANKS ON WEB
The banking industry in India is facing unprecedented competition from non-
traditional banking institutions, which now offer banking and financial services
over the Internet. The deregulation of the banking industry coupled with the
emergence of new technologies are enabling new competitors to enter the
financial services market quickly and efficiently.
1. Throughout the country, the Internet banking is in the nascent stage of
development. Only 50 banks are offering varied kind of Internet banking
services.
2. In general, these Internet sites offer only the most basic services. 55% are
so called entry level sites, offering little more than company informationand basic marketing materials. Only 8% offer advanced transactions such
as online funds transfer, transactions and cash management services.
3. Foreign & Private Banks are much advanced in terms of the number of
sites & their level of development.
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EMERGING CHALLENGES
Information technology analyst firm, the Meta Group, recently reported that
Financial Institutions who dont offer home banking by the year 2000 will
become marginalized. By the year of 2002, a large sophisticated and highlycompetitive Internet banking Market will develop which will be driven by:
.Demand side pressure due to increasing access to low cost electronic services.
Growing customer awareness and need of transparency.
Certainly some existing brick and mortar banks will go out of business. But
thats because they fail to respond to the challenge of the internet. The Internet
and its underlying technologies will change and transform not just banking, but
all aspects of finance and commerce. It represents much more than a new
distribution opportunity. It will enable nimble players to leverage their back and
mortar presence to improve customer satisfaction and gain share. It will force
lethargic players who are struck with legacy cost basis, out of business since
they are unable to bring play in the new context.
MAIN CONCERNS IN INTERNET BANKING
Security is the most important issue of online banking. There is a dual
requirement to protect customers privacy and protect against fraud.
Banking Securely:
Online Banking via the World Wide Web provides an overview of internet
commerce and how one company handless secure banking for its financial
institution clients and their customers.
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How E- banking can ease your lifePenalty due to non-payment of bill is not new to anyone of us. And quiteobviously, who likes the long procedure of writing a cheque, standing in a longqueue and then ensuring that the particular amount is available in your bank account ? Similarly Mr. Sharma who is on business tour for at least 25 days amonth finds its difficult to clear his dues on time because of his busy schedule.
He, like many of us, was possibly not aware of the online services, banks areoffering these days. With just a click, all his dues would have been cleared long
back. However its never too late to mend.
Indian banks are trying to make your life easier. Not just bill payment, you canmake investments shop or buy tickets and plan a holiday at your fingertips. Infact, sources from HDFC Bank tell us, Our Internet banking base has been
growing at an exponential pace over the last few years. Currently around 78 percent of the banks customer base is registered for Internet banking.
To get started, all you need is a computer with a modern or other dial-up device,a checking account with a bank that offers online service and the patience tocomplete about a one page application which can usually be done online. Youcan avail the following services:
1. BILL PAYMENT SERVICE2. FUND TRANSFER 3. CREDIT CARD CUSTOMERS4. RAILWAY PASS5. INVESTING THROUGH INTERNET BANKING6. RECHARGING YOUR PREPAID PHONES7. SHOPPING AT YOUR FINGER TIPS.
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INTERNET BANKING VERSUS TRADITIONAL METHOD
Inspite of so many facilities that Internet banking offers us, we still seem to trust
our traditional method of banking and is reluctant to use online banking. But
here are few cases where Internet banking will turn out to be a better option in
terms of saving your money.
1. Stop Payment done through Internet banking will not cost any extra fees but
when done through the branch, the bank may charge you Rs. 50 per cheque plus
the service tax.
2. Through Internet banking, you can check your transactions at any time of the
day, and as many times as you want to. On the other hand, in a traditional
method, you get quarterly statements from the bank and if you request for a
statement at your required time. It may turn out to be an expensive affair. The
branch may charge you Rs. 25 per page which includes only 30 transactions.
Moreover the bank branch would take eight days to deliver it at your doorstep.
3. If the fund transfer has to be made outstation where the bank does not have a
branch, the bank would demand outstation charges. Whereas with the help of
online banking, it will be absolutely free for you.
There are many advantages of online banking. It is convenient, it isnt
bound by operational timings, there are no geographical barriers and the services
can be offered at a miniscule cost.
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SECURITY PRECAUTIONS
Customers should never share personal information like PIN numbers,
passwords etc with anyone, including employees of the bank. It is important that
documents that contain confidential information are safeguarded. PIN or
password mailers should not be stored the PIN and/or passwords should be
changed immediately and memorized before destroying the mailers.
Customers are advised not to provide sensitive account-related information over
the phone. Take simple precautions like changing the ATM PIN and online
login and transaction passwords on a regular basis. Also ensure that the loggedin session is properly signed out.
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RESEARCH METHODOLOGY bank
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OBJECTIVES OF THE STUDY
1. To know the dynamics of the E-banking / Internet banking.
2. What are the products and services of Internet banking ?
3. To know the advantages of Internet banking.
4. To know how E-banking ca ease ones life ?
5. To know how the performance of banks over the internet.
6. To know the main concern of Internet banking.
7. To know the difference between Internet banking and traditional
banking.
8. To know about the security measures to be taken by the customers.
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SCOPE OF THE STUDY
1. Its scope is wider as internet banking has not reach to all the banks in
India.
2. As internet banking offers many advantages over traditional banking the
scope of internet banking is huge.
3. Users of internet are less in India which shows that users of internet
banking is also less. The users of internet banking will increase with the
increase in the users of internet..
4. In internet banking Transaction speed is much faster than traditional
banking therefore the users of internet banking will increase gradually.5. Due to high competition among various banks will result in providing
much faster services to its customers through internet banking.
6. It is easy to use, implement and administer
7. SCOPE of e- banking in:
BILL PAYMENT SERVICE
FUND TRANSFER RAILWAY PASS
INVESTMENT THROUGH INTERNET BANKING
RECHARGE PREPAID PHONE
SHOPPING AT YOUR FINGER TIPS.
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LIMITATIONS
1. Online banking services require high security.
2. Online services are restricted to checking account and transaction
information, however many customers do not even trust this service.
3. When banks provide this service they have applied strict security
measures but no service is absolutely safe, especially online
transactions.
4. Internet banking is limited though because laws on e- transactions are
unclear.
5. Internet users are less in India which in turns limits the use of e-
banking.
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II. E-BANKING / INTERNET BANKING OF INDIA OVERSEAS BANK.
INTRODUCTION
The facility of Internet Banking is provided only as a convenience to the
Customer and the Customer may avail the facility at his own risk. By having an
Account with the Bank and / or using of this facility the Customer agrees
unconditionally not to contest any transaction carried out or not carried out by
the bank over internet banking and shall accept the record of the transaction
maintained by the bank without any demur or protest, and hold the bank
harmless and blameless against any loss or consequences thereof arising from
any transaction carried out or not carried out over internet banking. Against theabove background the Customer can use any services provided by the Bank over
Internet.
IMPORTANT DEFINITIONS
Bank refers to IOB, a body corporate constituted under Banking
Companies (Acquisition and Transfer of Undertakings) Act 1970
E-See Banking is the TRADE NAME of the banks internet banking
service which provide access to account information, products and other
services as advised by the Bank from time to time to the banks customers
through the internet. E-See Banking, Electronic Banking, E- Banking and
Internet Banking Services / facility may be interchangeably used.
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Customer refers to any person who has an account with the bank and
who has been authorized by the bank to avail of the E-See banking facility
or for any other services.
Account refers to the Customers Savings and / or Current Account and /
or Fixed Deposit and / or any other type of account so designated by the
Bank to be eligible account (s) for operations through the use of E-See
banking. An account in the name of a minor or an account, in which a
minor is a joint account holder, is not eligible to be an E-See banking
account.
Personal Information refers to the Information about the Customer
obtained in connection with E-See banking.
Terms refer to Terms and conditions for use of E-See banking as
specified in this document. In this document, all references to the
Customer being referred in masculine gender will also include the
feminine gender.
The technical terms shall be governed by the definitions given under the
provisions of the Information Technology Act, 2000.
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APPLICATION FOR E-SEE BANKING
The bank may provide E-see banking to selected Customers at its discretion.
The customer would need to be a current Internet user or should have access to
the Internet and knowledge of how the internet works. Application for E-See banking has to be made through the online registration. The acceptance of the
registration does not automatically imply the acceptance of application for E-See
banking.
SOFTWARE
The bank will advise from time to time the internet software such as Browsers,
which are required for E-See banking. There will be no obligation on the Bank
to support all the versions of the internet software. The customer shall upgrade
his software, hardware and the operating system at his cost from time to time so
as to be compatible with those of the bank. The bank shall be at liberty to
change, vary or upgrade its software, hardware, operating system etc from time
to time and shall be under no obligation to support the software, hardware,
operating system of the customer. It shall be the sole responsibility of the
customer / user to ensure support for the software, hardware, operating system
etc.
Where the customer operates from a country other than India, the customer is
responsible for complying with the local laws of that country.
The customer has to take appropriate measures at this cost to protect his systems
from the likes of hackers, virus attacks etc. Measures include installation of
effective anti virus scanners, firewalls, etc.
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INTERNET BANKING ACCESS:
The Customer register with a user id and a password in the first instance. The
Customer will be required to keep the password secret and change it frequently
to ensure security.The Customer shall not attempt or permit others to attempt accessing the
account information stored in the computers of the bank through any means
other than the Internet Banking Service.
PASSWORD / PIN
1) The Customer must : Keep the password / pin totally confidential and not reveal the password /
PIN to any third party. Choose a password which shall be at least 6 characters long and shall
consist of a mix of alphabets, numbers which must not relate to any
readily accessible personal data such as the Customers Name, address,
telephone number, driver licencse etc. or easily guessable combination of
letters and numbers. Choose a pin which shall be 4 digits long and must not relate to any
readily accessible personal data such as telephone number, data of birth,
etc or a easily guessable combination of numbers. Commit the password / PIN to memory and not record them in a written
or electronic form and Not let any unauthorized person have access to his computer or leave the
computer unattended while accessing internet banking.
2) If the customer forgets the E-See banking password or PIN, he may usethe option Forgot Password / Forgot PIN to create a new
Password/PIN afresh. Increase he is unable to furnish the particulars
required for creation of a new Password/PIN he may download the
prescribed form and sent it duly signed to the concerned branch for issue
of a new Password/PIN.
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3) Any loss / liability / arising / suffered by the Customer due to misuse/ use
by third party of the password / pin / digital signature or otherwise shall
be the sole liability of the Customer and the Bank will not be responsible
/liable for the same.
FUNDS TRANSFER :
The Customer shall not use or attempt to use E-see banking for funds transfer
without sufficient funds in the related account or without a preexisting
arrangement with the bank for the grant of an overdraft. The bank can, at its sole
discretion, decide to carry out the instructions notwithstanding inadequacy of
funds (or credit facilities)
AUTHORITY TO THE BANK
E-see banking transactions in the Customers Account(s) are permitted only
after authentication of the Login id and Password of the customer. The Bank
shall have no obligation to verify the authenticity of any transaction received
from the Customer through E-See banking.
The display or printed output that is produced by the Customer at the time of
operation of E-see banking is a record of the operation of the Internet access and
shall not be construed as the Banks record of the relative transactions.
The Banks own record of transactions maintained through computer systems or otherwise shall be accepted as conclusive and binding for all purposes unless
any discrepancy is pointed out within one week from the date of access of
his/her/their/its account by the Customer.
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ACCURACY OF INFORMATION
The customer is responsible for the correctness of information supplied to the
Bank through the use of E-See banking or through any other means such as
electronic mail or written communication. The Bank accepts no liability for the
consequence arising out of erroneous information supplied by the Customer. If
the Customer suspects that there is an error in the information supplied to the
Bank by him, he shall advise the bank as soon as possible. The bank will
Endeavor to correct the error wherever possible on a best efforts basis,
provided the bank has not yet acted on the basis of such information.
LIABILITY OF CUSTOMERS:
The Customer shall be liable for all losses from unauthorized transactions in the
E-See banking accounts if he has breached the terms or contributed to or caused
the loss by negligent actions such as :
1. Keeping a written or electronic record of E-See banking Password.
2. Disclosing or failing to take all reasonable steps to prevent disclosure of
the E-See banking password to any one including Bank Staff and / or
failing to advise the Bank of such disclosure within reasonable time.
3. Not advising the bank within a reasonable time about unauthorized access
to or erroneous transaction in the E-See banking accounts.
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TERMINATION OF E-SEE BANKING SERVICES
The closure of all Accounts of the Customer will automatically terminate
the E-See banking service. The customer may request for termination of the E-See banking facility
any time by giving a written notice of at least 15 days to the bank. The
customer will remain responsible for any transactions made on his E-See
banking account (s) through E-See banking prior to the time of such
cancellation of the E-See banking service. The bank may withdraw the E-See banking facility anytime provided the
customer is given reasonable notice under the circumstances. If the E-See
banking service is withdrawn by the bank for a reason other than the
breach of he terms and conditions by the customer, the banks liability
shall be restricted to the return of the annual charges. The bank may suspend or terminate E-See banking facilities without prior
notice if the customer has breached terms and conditions, bankruptcy or
lack of legal capacity of the customer.
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APPLICATION OF E- BANKING IN HDFC BANK
1 E-Banking / Internet Banking of HDFC
HDFC Bank.com, our internet Banking Service, is a convenient remote
banking facility providing you with easy and secure access to your
accounts. With just a PC connected to the Internet, you can have your
account information at your fingertips, from anywhere in the world, any
time.
HDFC BANK OFFERS
ACCOUNT INFORMATION : Provides you with a summary of all your bank accounts. Allows transaction tracking which enables retrieval of transaction details
based on cheque number, transaction amount, and date and so on.
E-CHEQUES (ONLINE FUND TRANSFER)You can transfer funds: Between your accounts. To another HDFC Bank account
BILL PAYMENT :You can pay your bills (telephone, mobile, electricity, insurance premium, credit
card, etc.) online.
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REQUESTS AND INTIMATIONS :
You can electronically submit a request for:
Cheque Book
Stop payment instruction Quantum Optima-value added savings account
Opening a fixed deposit
Opening a recurring deposit.
Intimate us for loss of your ATM Card.
Register ONLINE for phone banking and mobile commerce
Cheque Status Online application for Debit Card etc.
COMMUNICATION WITH YOUR ACCOUNT MANAGER
The mail-box facility enables you to send secure mail to your account manager
to find out the status of a request or for any clarifications.
CUSTOMISE HDFC BANK.com:
HDFC Bank.com allows you to customize it according to your preferences. You
can specify your viewing preferences, such as your primary account, date and
amount formats. You can even set nicknames for your account (s) and use this
option to change your password.
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DATA ANALYSIS
AND
INTERPRETATION
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1. Internet Users
There are 38.5 million Indians online today. The internet offers anaudience that will grow to a 100 million users by 2007-08.The internet offers unlimited shelf space and isnt bound by operationaltimings ad geographical boundaries; with an opportunity to cater tocountry wide city markets (for consumers and suppliers alike) at acomparative miniscule cost.
Regular online shopper ! A demographic profile
By Age
18
25
36 35 36
45 46
60
00
10
20
30
40
50
60
70
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Series1
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By State :
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
1 2 3 4 5 6 7 8 9 10 11
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2. Internet Banking Services offered to customers Account Information.
ECheques (Online Funds Transfer)
Bill Payment Requests and Intimations.
Communication with your Account Manger
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3. It will not be possible to access internet Banking using text based
browsers like Lynx.
4. A multi layered security architecture comprising firewalls, filtering
routers, encryption and digital certification ensures that your accountinformation is protected from unauthorized access.
Firewalls and filtering routers ensure that only legitimate internet users
are allowed to access HDFC Bank.Com
Encryption techniques used by the Bank (including the sophisticated
public key encryption) would ensure that the privacy of data flowing
between the browser and the HDFC Bank. com is protected. Digital Certification procedures provide the assurance that the data you
receive is from the Internet Banking System.
5. It is not the sole responsibility of the bank only to ensure safe and secure
internet banking access but customers are also equally important in
protecting their accounts and conducting safe access.
6. The bank may suspend or terminate E-See banking facilities without prior
notice if the customer has breached terms and conditions.
7. Benefits
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TO CUSTOMERS
Transaction speed quick.
Build customer loyalty by offering al services
Security and privacy of customer history
Faster service available
Customer queries answered instantly
Impartial service to customers
Can avail any service from any counter.
TO STAFF
Up to date maintenance of books / ledgers.
Mistakes by staff minimized.
Eliminates redundancy, manual checking of books/ledgers.
Speeds up the process of bank accounts department.
TO MANAGEMENT
All requirement met on time.
Reduction in manpower requirement upto 50%.
Quick finalization of accounts.
Better management control through periodic reports.
Enhances productivity
Reduce human errors
Easy to use, administer, control
Highly cost effective.
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8) E- Banking has scope in
BILL PAYMENT SERVICE
FUND TRANSFER
RAILWAY PASS
INVESTMENT THROUGH INTERNET BANKING
RECHARGING PREPAID PHONE
SHOPPING AT YOUR FINGER TIPS.
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SWOT ANALYSIS
SWOT ANALYSIS is as follows:
Strengths
1. Customer access to information 24 hours per day.
2. Timely access to information
3. Increased efficiency due to automation
4. Diversity help capture different types of markets.
5. Sophisticated technology systems will help to make a banking institute
Future Proof.
Weakness
1. High price of service.
2. Multiple options for the customer.
3. Initial investment in technology will be expensive.
4. Continual altering of customers wants and needs.
Opportunities
1. The ability to obtain a larger customer base.2. Global expansion. This is an enormous market which will be a great
opportunity in the future.
3. The ability to take advantage of growing popularity of Internet
banking.
Threats
1.Continual charging technology.
2. Uncertainty of the banking industry.
3. Competition from lower price operations.
4. General competitiveness of the banking industry.
5. Possible failure of product due to non-acceptance of customer.
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SUGGESTION
&
CONCLUSIONS
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SUGGESTION
Few suggestions are given to improve your efforts if you again are
asked to prepare a, for improving your skills and efforts.
Some of them are :
1. Data must have been represented in graphical form.
2. Should read a lot of newspapers, magazines, articles to
make your project better.
3. More data, facts and figures should have been collected for
better work.
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CONCLUSIONS
1. E-Banking is a very convenient, safe, secure service provided by banks totheir customers.
2. There are no geographical barriers and the services can be offered at aminiscule cost.3. Through internet banking, you can check your transactions at anytime of
the day, and as many times as you want to.4. Bill payment service, railway pass, fund transfer etc. more services will be
included to attract more customers.5. E-Banking has many advantages to its customers, staff and management.
It is advantageous to everyone and not limited to customers only.6. E-Banking creates issues for banks and regulators alike for our part we
will continues our work, both national and international to identify andremove and unnecessary barriers.
HYPOTHESISHDFC Bank is highly positive in the view that E-Banking is a very
convenient, safe, secure provided by bank to their customers.
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BIBLIOGRAPHY
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BIBLIOGRAPHY
NEWS PAPERS :
TIMES OF INDIA
THE HINDUSTAN TIMES
WEB SITES :
www.GOOGLE.COM
www.WIKIPEDIA.Com
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