Internet banking in India 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.

University Degree Business and Administrative studies

E-BANKING IN INDIA

CONTENTS

Introduction
Company Profile
E-Banking
Research Methodology
Conclusion
Suggestions
Limitations
Bibliography

INTRODUCTION

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 a certain 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. Studies estimate that internet banking still has a long way to go. There are several banks that have customers who prefer banking in the traditional ways. Statistics released by the FDIC show that only 40% of the banks in the U.S. offer internet banking facilities worth mentioning. All the others may have an online presence but do not have enough online transactions to justify their presence on the internet.

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 facilities for security reasons. This is mainly because of customers being assured 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 for more than ten years now.

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, there would be no physical identity for any branch. It would a borderless entity permitting anytime, anywhere and anyhow banking.

The network which connects the various locations and gives connectivity to the central office within the organization is called intranet. These networks are limited to organizations for which they are set up. SWIFT is a live example of intranet application.

Internet banking in India

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:

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 bank's 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.

ii) 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. The information is fetched from the bank's application system either in batch mode or off-line. The application systems cannot directly access through the internet.

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 covering 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 0ff-line. The on-line ATN enables the customer to avail banking facilities from anywhere. In off-line the facilities are confined to that particular ATM assigned. Any customer possessing ATM card issued by the Shared Payment Network System can go to any ATM linked to Shared Payment Networks and perform his transactions.
Credit Cards/Debit Cards:

The Credit Card holder is empowered to spend wherever and whenever he wants with his Credit Card within the limits fixed by his bank. Credit Card is a post paid card. Debit Card, on the other hand, is a prepaid card with some stored value. Every time a person uses this card, the Internet Banking house gets money transferred to its account from the bank of the buyer. The 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 spent is debited immediately from the customers account.
Smart Card:

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

You can avail the following services through E-Banking.

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 the country. 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.

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's account number, his bank and the branch. The transfer will take place in a day or so, whereas in a traditional method, it takes about three working days. ICICI Bank says that online bill payment service and fund transfer facility have been their most popular online services.
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.

Railway pass

This is something that would interest all the aam janta. Indian Railways has tied up with ICICI 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.
Investing through Internet banking

You can now open an FD online through funds transfer.Now investors with 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.
Nowadays, 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.

Recharging your prepaid phone

Now just top-up your prepaid mobile cards by logging in to Internet banking. By just selecting your operator's name, entering your mobile number and the amount for recharge, your phone is again back in action within few minutes.

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 India's report on online banking 2006, "There are many advantages of online banking. It is convenient, it isn't bound by operational timings, there are no geographical barriers and the services can be offered at a miniscule cost."
Through Internet banking, you can check your transactions at any time of the day, and as many times as you want to. Where in a traditional method, you get quarterly statements from the bank. 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.

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 memorised before destroying the mailers.

Customers are advised not to provide sensitive account-related information over unsecured e-mails or 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 logged in session is properly signed out.

COMPANY PROFILE

State Bank of India is India’s largest bank with a branch network of over 11000 branches and 6 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.

OnlineSBI is the Internet banking portal for State Bank of India. The portal provides anywhere, anytime, online access to accounts for State Bank’s Retail and Corporate customers. The application is developed using the latest cutting edge technology and tools. The infrastructure supports unified, secure access to banking services for accounts in over 11,000 branches across India.

The Retail banking application is an integration of several functional areas, and enables customers to:

Issue Demand Drafts online
Transfer funds to own and third party accounts
Credit beneficiary accounts using the VISA Money Transfer, RTGS/NEFT feature
Generate account statements
Setup Standing Instructions
Configure profile settings
Use eTax for online tax payment
Use ePay for automatic bill payments
Interface with merchants for railway and airline reservations
Avail DEMAT and IPO services

The OnlineSBI corporate banking application provides features to administer and manage corporate accounts online. The corporate module provides roles such as Regulator, Admin, Uploader, Transaction Maker, Authorizer, and Auditor. These roles have access to the following functions:

Manage users, define rights ...

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Issue Demand Drafts online
Transfer funds to own and third party accounts
Credit beneficiary accounts using the VISA Money Transfer, RTGS/NEFT feature
Generate account statements
Setup Standing Instructions
Configure profile settings
Use eTax for online tax payment
Use ePay for automatic bill payments
Interface with merchants for railway and airline reservations
Avail DEMAT and IPO services

Manage users, define rights and transaction rules on corporate accounts
Access accounts in several branches with a single sign-on mechanism
Upload files to make bulk transactions to third parties, supplier, vendor and tax collection authorities.
Use online transactional features such as fund transfer to own accounts, third party payments (both Inter and Intra bank), and draft issues
Make bill payments over the Internet.
Authorize, modify, reschedule and cancel transactions, based on rights assigned to the user
Generate account statement
Enquire on transaction details or current balance

In addition to the above the Internet banking application also provides the following value added services:

Tax payments to central and state governments through site to site integration.
Supply Chain Finance( e-VFS- Electronic Vendor Finance Scheme)
Direct Debit Facility
E Collection Facilities for:

Core Banking Transactions
Inter Bank Transactions for incoming RTGS/NEFT Transactions
Internet Banking Transactions for SBI & Associate Banks
Direct Debit facility where suppliers can directly debit their customer’s account through Internet Banking

Overview

ICICI Bank is India's second-largest bank with total assets of Rs. 3,793.01 billion (US$ 75 billion) at March 31, 2009 and profit after tax Rs. 37.58 billion for the year ended March 31, 2009. The Bank has a network of 1,442 branches and about 4,721 ATMs in India and presence in 18 countries. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management. The Bank currently 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. Our UK subsidiary has established branches in Belgium and Germany.

ICICI Bank's equity shares are listed in India on Bombay Stock Exchange and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE).

History

ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial institution, and was its wholly-owned subsidiary. ICICI's shareholding in ICICI Bank was reduced to 46% through a public offering of shares in India in fiscal 1998, an equity offering in the form of ADRs listed on the NYSE in fiscal 2000, ICICI Bank's acquisition of Bank of Madura Limited in an all-stock amalgamation in fiscal 2001, and secondary market sales by ICICI to institutional investors in fiscal 2001 and fiscal 2002. ICICI was formed in 1955 at the initiative of the World Bank, the Government of India and representatives of Indian industry. The principal objective was to create a development financial institution for providing medium-term and long-term project financing to Indian businesses. In the 1990s, ICICI transformed its business from a development financial institution offering only project finance to a diversified financial services group offering a wide variety of products and services, both directly and through a number of subsidiaries and affiliates like ICICI Bank. In 1999, ICICI become the first Indian company and the first bank or financial institution from non-Japan Asia to be listed on the NYSE.

After consideration of various corporate structuring alternatives in the context of the emerging competitive scenario in the Indian banking industry, and the move towards universal banking, the managements of ICICI and ICICI Bank formed the view that the merger of ICICI with ICICI Bank would be the optimal strategic alternative for both entities, and would create the optimal legal structure for the ICICI group's universal banking strategy. The merger would enhance value for ICICI shareholders through the merged entity's access to low-cost deposits, greater opportunities for earning fee-based income and the ability to participate in the payments system and provide transaction-banking services. The merger would enhance value for ICICI Bank shareholders through a large capital base and scale of operations, seamless access to ICICI's strong corporate relationships built up over five decades, entry into new business segments, higher market share in various business segments, particularly fee-based services, and access to the vast talent pool of ICICI and its subsidiaries. In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the merger of ICICI and two of its wholly-owned retail finance subsidiaries, ICICI Personal Financial Services Limited and ICICI Capital Services Limited, with ICICI Bank. The merger was approved by shareholders of ICICI and ICICI Bank in January 2002, by the High Court of Gujarat at Ahmedabad in March 2002, and by the High Court of Judicature at Mumbai and the Reserve Bank of India in April 2002. Consequent to the merger, the ICICI group's financing and banking operations, both wholesale and retail, have been integrated in a single entity.

Board Members

HDFC BANK

PROMOTER

HDFC is India's premier housing finance company and enjoys an impeccable track record in India as well as in international markets. Since its inception in 1977, the Corporation has maintained a consistent and healthy growth in its operations to remain the market leader in mortgages. Its outstanding loan portfolio covers well over a million dwelling units. HDFC has developed significant expertise in retail mortgage loans to different market segments and also has a large corporate client base for its housing related credit facilities. With its experience in the financial markets, a strong market reputation, large shareholder base and unique consumer franchise, HDFC was ideally positioned to promote a bank in the Indian environment.

BUSINESS FOCUS

HDFC Bank's mission is to be a World-Class Indian Bank. The objective is to build sound customer franchises across distinct businesses so as to be the preferred provider of banking services for target retail and wholesale customer segments, and to achieve healthy growth in profitability, consistent with the bank's risk appetite. The bank is committed to maintain the highest level of ethical standards, professional integrity, corporate governance and regulatory compliance. HDFC Bank's business philosophy is based on four core values - Operational Excellence, Customer Focus, Product Leadership and People.

CAPITAL STRUCTURE

As on 31st March, 2009 the authorised share capital of HDFC Bank is Rs. 550 crore. The paid-up capital as on the said date is Rs. 425,38,41,090/- ( 42,53,84,109 equity shares of Rs 10/- each). The HDFC Group holds 19.38% of the Bank's equity and about 17.70 % of the equity is held by the ADS Depository (in respect of the bank's American Depository Shares (ADS) Issue). 27.69 % of the equity is held by Foreign Institutional Investors (FIIs) and the Bank has about 5,48,774 shareholders.

The shares are listed on the Bombay Stock Exchange Limited and The National Stock Exchange of India Limited. The Bank's American Depository Shares ( ADS ) are listed on the New York Stock Exchange (NYSE) under the symbol 'HDB' and the Bank's Global Depository Receipts (GDRs) are listed on Luxembourg Stock Exchange under ISIN No US40415F2002.

CBoP & Times Bank Amalgamation

On May 23, 2008, the amalgamation of Centurion Bank of Punjab with HDFC Bank was formally approved by Reserve Bank of India to complete the statutory and regulatory approval process. As per the scheme of amalgamation, shareholders of CBoP received 1 share of HDFC Bank for every 29 shares of CBoP.

The merged entity will have a strong deposit base of around Rs. 1,22,000 crore and net advances of around Rs. 89,000 crore. The balance sheet size of the combined entity would be over Rs. 1,63,000 crore. The amalgamation added significant value to HDFC Bank in terms of increased branch network, geographic reach, and customer base, and a bigger pool of skilled manpower.

In a milestone transaction in the Indian banking industry, Times Bank Limited (another new private sector bank promoted by Bennett, Coleman & Co. / Times Group) was merged with HDFC Bank Ltd., effective February 26, 2000. This was the first merger of two private banks in the New Generation Private Sector Banks. As per the scheme of amalgamation approved by the shareholders of both banks and the Reserve Bank of India, shareholders of Times Bank received 1 share of HDFC Bank for every 5.75 shares of Times Bank.

DISTRIBUTION NETWORK

HDFC Bank is headquartered in Mumbai. The Bank at present has an enviable network of over 1412 branches spread over 528 cities across India. All branches are linked on an online real-time basis. Customers in over 120 locations are also serviced through Telephone Banking. The Bank's expansion plans take into account the need to have a presence in all major industrial and commercial centres where its corporate customers are located as well as the need to build a strong retail customer base for both deposits and loan products. Being a clearing/settlement bank to various leading stock exchanges, the Bank has branches in the centres where the NSE/BSE have a strong and active member base.

The Bank also has a network of about over 3275 networked ATMs across these cities. Moreover, HDFC Bank's ATM network can be accessed by all domestic and international Visa/MasterCard, Visa Electron/Maestro, Plus/Cirrus and American Express Credit/Charge cardholders.

MANAGEMENT

Mr. Jagdish Capoor took over as the bank's Chairman in July 2001. Prior to this, Mr. Capoor was a Deputy Governor of the Reserve Bank of India.
The Managing Director, Mr. Aditya Puri, has been a professional banker for over 25 years, and before joining HDFC Bank in 1994 was heading Citibank's operations in Malaysia.

The Bank's Board of Directors is composed of eminent individuals with a wealth of experience in public policy, administration, industry and commercial banking. Senior executives representing HDFC are also on the Board.

Senior banking professionals with substantial experience in India and abroad head various businesses and functions and report to the Managing Director. Given the professional expertise of the management team and the overall focus on recruiting and retaining the best talent in the industry, the bank believes that its people are a significant competitive strength.

TECHNOLOGY

HDFC Bank operates in a highly automated environment in terms of information technology and communication systems. All the bank's branches have online connectivity, which enables the bank to offer speedy funds transfer facilities to its customers. Multi-branch access is also provided to retail customers through the branch network and Automated Teller Machines (ATMs).

The Bank has made substantial efforts and investments in acquiring the best technology available internationally, to build the infrastructure for a world class bank. The Bank's business is supported by scalable and robust systems which ensure that our clients always get the finest services we offer.

The Bank has prioritised its engagement in technology and the internet as one of its key goals and has already made significant progress in web-enabling its core businesses. In each of its businesses, the Bank has succeeded in leveraging its market position, expertise and technology to create a competitive advantage and build market share.

BUSINESSES

HDFC Bank offers a wide range of commercial and transactional banking services and treasury products to wholesale and retail customers. The bank has three key business segments:

RATINGS

AWARDS

E-BANKING

STATE BANK OF INDIA

E-Ticketing

You can book your railway, air and bus tickets online through OnlineSBI.
To book your train ticket, just log on to irctc.co.in and create an ID thereat if you do not have one. Submit your travel plan and book the ticket(s)-either

i-ticket (where the delivery of tickets will be made at your address) or
e-tickets (wherein after successful payment transactions, an e-ticket is generated which can be printed any time. For an e-ticket, the details of photo identity card will required to be filled in)

and select State Bank of India in the payment options. You will be redirected to Internet Banking site of SBI (). After submitting the respective ID and password, you can select your account. After a successful debit, Railways will generate the ticket. E-ticket can be printed by you whereas the i-ticket will be dispatched by IRCTC at the given address. Service charges @ Rs.10/- per transaction shall be levied in addition to the cost of the ticket. Cancellation of E-ticket can be done by logging on to IRCTC's site; refund amount will be credited to your account directly within 2-3 days. For cancellation of i-ticket, you shall be required to submit your ticket at a computerized counter of Railways and on cancellation, the amount shall be credited back to your account.

You can also book your Air ticket through the e-ticketing feature. Logon to Indian Airlines website to make a payment for an e-ticket through State Bank of India, you need to select SBI as the payment option. The payment request will be redirected to Internet Banking site. The request may be processed based on values sent from the airlines website. Once a transaction is processed, an appropriate response will be sent to airlines site to update the status of the transaction. You can print the E-ticket immediately.

To book bus tickets to destinations in Karnataka, log on to the KSRTC website. Provide details about the start and end points of your journey, date of journey and number of tickets. Verify availability of seats on the selected date and confirm the transaction. Select OnlineSBI to make the payment. Provide your credentials and select the SBI account that will be debited for the payment. You are provided a KSRTC reference number for your e-Ticket.

SBI E-Tax

You can pay your taxes online through SBI E-Tax. This facility enables you to pay TDS, Income tax, Indirect tax, Corporation tax, Wealth tax, Estate Duty and Fringe Benefits tax. Click the e-Tax link in the home page. You are displayed a page with two links Direct Tax and Indirect Tax.

Click the Direct Tax link. You will be redirected to the NSDL site where you can select an online challan based on the tax you wish to pay. Provide the PAN, name and address, assessment year, nature of payment and bank name. On selecting the bank name as SBI and submitting the form, you will be redirected to the Internet Banking site. After submitting the respective ID and password, you can select your account for making payment of taxes. After payment is successful you can print the E-Receipt for the payment. The E-receipt can be printed at a later date also and the same can be retrieved from: Enquiries > Find Transactions > Status Enquiries > Click on the respective transaction to print the tax receipt.

The Indirect Tax link is used to make Central Excise and Service Tax payments to Central Board of Excise and Customs. The online payment feature facilitates anytime, anywhere payment and an instant E-Receipt is generated once the transaction is complete. The Indirect Tax payment facility is available to Registered Central Excise/Service Tax Assessee who possesses the 15 digit PAN based Assessee Code. You can make CBEC payments using the Indirect Taxes link available in the Payments/Transfers tab. You need to provide your assessee code as registered with CBEC and select the minor heads towards which you intend to pay tax. Select the appropriate tax type and enter the tax amount. Select an account for debiting the total tax amount. You can use any of your transaction accounts to make the payment. If a payment is successful, CBEC provides a link to generate an E-Receipt for the payment.

Internet banking customers can pay tax through site to site integration. For government agencies, which are not Internet-enabled, OnlineSBI offers the Government Tax Payment facility. This facility is available as a post login feature in the retail and corporate banking sites of the Online SBI portal.

Bill Payment

A simple and convenient service for viewing and paying your bills online.

No more late payments
No more queues
No more hassles of depositing cheques

Using the bill payment you can 'view and Pay Various bills online, directly from your SBI account. You can pay telephone,electricity, insurance,credit cards and other bills from the comfort of your house or office, 24 hours a day, 365 days a year. Simply logon to with your credentials and register the biller to which you want to pay, with all the bill details. Once the bill is uploaded by the biller, you can make payment online.You can see 'how do i' to learn the steps for using the facility.

You can also set up AutoPay instructions with an upper limit to ensure that your bills are paid automatically whenever they are due. The upper limit ensures that only bills within the specified limit are paid automatically, thereby providing you complete control over these payments.

The e-PAY service is available in various cities across the country and you can now make payments to several billers in your region.

E-Payment

You can pay your insurance premium, mobile phone bills and also you can purchase mutual fund units by coming from the biller's website and selecting state bank of India in the payment option.

LIC PREMIUM: For paying premium of LIC policy logon to and register your policy details. When the premium is due select State Bank of India in the make payment option.

SBI Mutual FUND: You can invest in the SBI Mutual Fund schemes online. Logon to and select the scheme in which you want to make investment in the payment option select State Bank of India.

CCAVENUES: Enjoy shopping at the CCAvenue Shopping Mall and purchase from a wide variety of products and services through CCAvenue Certified Vendors. Make payments for your purchases using your Internet enabled SBI accounts.

Fund Transfer

The Funds Transfer facility enables you to transfer funds within your accounts in the same branch or other branches. You can transfer aggregating Rs.5 lakhs per day to own accounts in the same branch and other branches. To make a funds transfer, you should be an active Internet Banking user with transaction rights. Funds transfer to PPF account is restricted to the same branch.

Just log on to retail section of the Internet Banking site with your credentials and select the Funds Transfer link under Payments/Transfers tab. You can see all your online debit and credit accounts. Select the debit account from which you wish to transfer funds and the credit account into which the amount is to be credited. Enter the amount and remarks. The remarks will be displayed in your accounts statement for this transaction. You will be displayed the last five funds transfer operations on your accounts. On confirming the transaction, you will be displayed a confirmation page with the details of the transaction and the option to submit or cancel the funds transfer request. A reference number will be generated for your record.

ICICI BANK

This service is available to the following type of ICICI Bank account holders:

Please mail the completed application form to the following address:

ICICI Bank Limited
Internet Banking Department
A-Wing, 6th Floor, Autumn Estates
Chandivali Farm Road, Chandivali
Next to Chandivali Studio, Opp. MHADA
Andheri - East, Mumbai 400072

You can now access your account details online and also link your relationships with ICICI Bank through Internet Banking at www.icicibank.com. To get started, all you have to do is follow the three simple steps described below:

Step 1: Access Internet Banking – Obtain your User ID and Passwords

For the security of your accounts, a unique user ID is created and allotted for every account number.

For bank accounts, the user ID and passwords (both log-in password and transaction password) are given to you as part of your ‘Welcome’ kit at the time of account opening.
In the case of credit-card accounts, the user ID and passwords are mailed to your registered mailing address separately after dispatch of the card to you.
For demat accounts, you can ask for your Internet Banking user ID / passwords by submitting a filled-in application form.

If you have received your Internet Banking user ID / passwords but have lost them or do not remember them, you can ask for them by calling us at our 24-hour Customer Care numbers or by submitting a filled-in application form at any ICICI Bank branch. If your accounts are not linked to a single user ID (see Step 3), you will have to ask for a separate user ID and set of passwords (log-in password and transaction password) for each account number that you have.

Step 2: Create your Own Unique User ID

The second simple step is to create you own unique user ID. The user ID is your permanent identification to the Internet Banking service. This facility of creation of your own user ID helps you to modify your system-generated user ID so that you can customize it to a form that you find easier to remember.

Click the ‘Personal’ button at the top left corner of the web page and then log in with the user ID and password given to you.
Click the “Change User ID” link at the top-most menu and proceed.

Setting your own user ID is very simple and convenient. You do not need to store your user ID physically for future recall and thus compromise the security of your account.

Please note that this facility is available to you only once, i.e. once you have changed your user ID through this step, you cannot change it again. Try and create a user ID that no one can guess easily.
Your user ID should be unique to you and yet not obvious to others. Avoid using your name, nickname, date of birth and other such commonly known or easily findable information.

Along with the creation of your user ID, you should change the passwords that have been provided to you. Please choose a password that is at least 8 characters and up to 32 characters long. Passwords should contain both letters and numerals.
A word of caution: After you have changed your user ID, the system will instantly ask you to change your log-in password and transaction password also.

So, if you do not remember your transaction password, please do not initiate this step.
Instead, please obtain a transaction password from our 24-hour Customer Care (as in Step 1) and then proceed with this step.

Step 3: Link the Account Number to your User ID (if you have more than one ICICI Bank relationship)

If you have more than one relationship with ICICI Bank, you can link all your accounts to a single user ID. Once you do so, you can log in and view the details of all your ICICI Bank relationships with just this one user ID.

To link your bank accounts / credit card accounts and/or loan accounts, just log in with the user ID to which you wish to link these accounts and go to the ‘Request’ option under the ‘Bank’ menu of the homepage.
Select the appropriate request pertaining to the type of account that you want to link, and enter your account number that you wish to link. The system will also ask you to confirm your request with your transaction password.
Once the request is validated by the system, linking is effected within three to four business days, after which you can access your account details and transact online.

The next time you want to see your account details, all you need to do is log in and select the account that you wish to view from the ‘My Accounts’ page.

For security reasons, the transaction password and/or ATM/debit card related authentication would be necessary when you choose to transact online.

If you need any assistance, do write to us or call us at our 24-hour Customer Care numbers. We’ll be happy to respond.

Online Services

HDFC BANK

NetBanking is HDFC Bank's Internet Banking service. Providing up-to-the-second account information, NetBanking lets you manage your account from the comfort of your mouse - anytime, anywhere.

Introducing a simpler way to register for NetBanking
Say goodbye to long queues and paper work. Presenting one more reason to register for NetBanking. You can now call the in your city to register for NetBanking.

Our industry leading service provides a host of features at your finger-tips:

Internet Banking is the most convenient and powerful way to manage your account.

HDFC Bank has implemented a new security solution for its customers - Secure Access

As your security is our top priority, we have initiated the Secure Access solution to protect you from fraudsters and hackers - who are looking to find a way to access your account.

Currently following transactions are covered under Secure Access

Let us take you through the steps involved in Secure Access and how it serves to protect your account

Secure Access is an additional layer of security that is essentially a solution protecting your account from hackers and fraudsters. Secure Access requires a one-time registration effort from your side.

To register for Secure Access you will need to:

Personalise an image
Personalise text
Answer 5 questions
Share two contact numbers

Third-Party Transfer is a NetBanking feature for which you will need your unique Customer ID and IPIN (password). Login to NetBanking to confirm that your ID is active in our records.

With Third-Party Transfer (TPT) you can transfer funds online from your HDFC Bank account to another HDFC Bank/Other Bank account (beneficiary), anywhere in India.

This is a real-time transaction and the debit and credit will reflect in the respective accounts immediately. There is no charge for this facility.

*Third Party Transfer can be initiated:

From your Account to other Bank Accounts using

National electronic Funds Transfer (NEFT) - Funds will be credited to the beneficiary account in two working days
Real Time Gross Settlement (RTGS) - Funds will be credited to the beneficiary account on the same working day.

From your HDFC Bank account to other HDFC Bank accounts (different cust ids).
From your account to any Visa Card (Debit or Credit) within India.
For issuance of Third Party Demand Drafts from your account.

You can transfer upto a maximum of Rs. 5,00,000/- per cust id per day using this facility. This amount can be transferred in parts or on a single basis.

To avail of Third Party Transfer facility, fill up the and submit the same at the nearest branch. The form is available on the Net or at any of our HDFC Bank branches.

After 4 working days of submitting the form at the branch, you will receive an email from us informing you that your third-party transfer option has been activated.

Inorder to use the Third Party Transfer service, you need to add a beneficiary first.

Steps to add a beneficiary:

Log on to www.hdfcbank.com and enter your Customer ID and Password ( IPIN)
Go to Third Party Transfer and click on "Add a beneficiary".
Select Beneficiary Type – Transfer within the Bank / Transfer to other bank (using NEFT) / Transfer to other bank ( using RTGS)
Fill in the beneficiary details and confirm

To Transfer Funds choose the account you want to transfer funds from and also choose the beneficiary. Enter the details of your transaction, fill in the transaction amount, and submit the information.

INSTA IPIN FACILITY

It has been our constant endeavor to make banking a hassle-free experience for you. At HDFC Bank, we understand that it is quite possible to forget even important things like your NetBanking password (IPIN). But that should not be holding you back from accessing your bank account.

You can now re-generate your NetBanking password instantly with the help of your Debit Card details and start using your new password (IPIN) immediately. No need to request for a new password and await its arrival. And it is even better as you select your new HDFC Bank password yourself so it becomes much easier to remember the same.
What do I need to re-generate the NetBanking Password (IPIN)?
All you need is an active HDFC Bank Debit card.

Following are the steps that need to be followed for online resetting of your NetBanking IPIN

RESEARCH METHODOLOGY

The research methodology that I undertook for the purpose of this study is enumerated below-

SECONDARY RESEARCH:

Sources of secondary data were primarily the Internet , journals , newspaper, annual report, database available in the library, catalogues and presentations.

RESEARCH DESIGN: DESCRIPTIVE

Descriptive studies are well structured, they tend to be rigid and its approach can not be changed every now and then. Descriptive study can be divided in two categories:

Cross sectional
Longitudinal

Descriptive study are undertaken in many circumstances:

when the researcher is interested in knowing the characteristics of certain groups such as age , profession.

when the researcher is interested in knowing the proportion of people in given population who have behaved in a particular manner, making projection of certain things.

The objective of this kind of study is to answer the why, who, ,what ,when and how of the subject under consideration.

I will be taking descriptive because my research includes the knowing the behavior of customer towards advertisement. I will be working on to know how people of various age group respond to different advertising or there perception towards advertisement.

CONCLUSION

With cybercafes and kiosks springing up in different cities access to the Net is going to be easy. Internet banking (also referred as e banking) is the latest in this series of technological wonders in the recent past involving use of Internet for delivery of banking products & services. Even the Morgan Stanley Dean Witter Internet research emphasised that Web is more important for retail financial services than for many other industries.

Internet banking is changing the banking industry and is having the major effects on banking relationships. Banking is now no longer confined to the branches were one has to approach the branch in person, to withdraw cash or deposit a cheque or request a statement of accounts. In true Internet banking, any inquiry or transaction is processed online without any reference to the branch (anywhere banking) at any time. Providing Internet banking is increasingly becoming a "need to have" than a "nice to have" service. The net banking, thus, now is more of a norm rather than an exception in many developed countries due to the fact that it is the cheapest way of providing banking services.

LIMITATIONS

Relevance : The data may not fit into the needs of investigation. There may be difference in the units of measurement, there may be surrogate data, discrepancy of class & data may pertain to some other period of time.
Difficulties in the identification of the source.
Difficulty to find secondary data that exactly the needs of some specific research investigation.
Error may be there in recording or transferring information from secondary sources.
The facilities or capabilities of the agency that originally collected the data might be questionable.

BIBLIOGRAPHY

Books

Marketing Management: Kotler P., Prentice Hall of India Pvt. Ltd.

Marketing Strategies Yadav: P.K., Anamika Publishers & Distributors

Marketing Research Boyd, West Fall, Spasch, All India Traveller book seller

Kothari Research Methodology

Magazines

Business World
India Today
Newspaper- Times of India, Economic Time

WEBLIOGRAPHY

Internet banking in India 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.

INTRODUCTION

E-BANKING

The network which connects the various locations and gives connectivity to the central office within the organization is called intranet. These networks are limited to organizations for which they are set up. SWIFT is a live example of intranet application.

Internet banking in India

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:

Automated Teller Machine (ATM):

You can avail the following services through E-Banking.

Bill payment service

Fund transfer

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.

Railway pass

Recharging your prepaid phone

Now just top-up your prepaid mobile cards by logging in to Internet banking. By just selecting your operator's name, entering your mobile number and the amount for recharge, your phone is again back in action within few minutes.

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

Security Precautions

Customers are advised not to provide sensitive account-related information over unsecured e-mails or 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 logged in session is properly signed out.

This is a preview of the whole essay

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Internet banking in India 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.

INTRODUCTION

E-BANKING

The network which connects the various locations and gives connectivity to the central office within the organization is called intranet. These networks are limited to organizations for which they are set up. SWIFT is a live example of intranet application.

Internet banking in India

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:

Automated Teller Machine (ATM):

You can avail the following services through E-Banking.

Bill payment service

Fund transfer

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.

Railway pass

Recharging your prepaid phone

Now just top-up your prepaid mobile cards by logging in to Internet banking. By just selecting your operator's name, entering your mobile number and the amount for recharge, your phone is again back in action within few minutes.

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

Security Precautions

Customers are advised not to provide sensitive account-related information over unsecured e-mails or 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 logged in session is properly signed out.

This is a preview of the whole essay

Document Details

Related Essays

External Environment Analysis of ANZ Banking Group New Zealand Ltd

ING Direct (www.ingdirect.com) a pioneer in the direct retail banking busi...

E-business - E- banking

Online Banking and the Problem of Fraud.

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.