PROJECT WORK

(Submitted for the Degree of B. Com Honors in Accounting & Finance under the
University of Calcutta)

TITLE OF THE PROJECT

ONLINE BANKING
A STUDY ON THE USERS OF KOLKATA

Submitted By:
Name of the Candidate : Rakesh Roy

Registration No : 016-1111-0430-20

C.U. Roll No : 201016-21-0111

Name of the College : Syamaprasad College

Supervised By:
Name of the Supervisor : Prof. Tapas Kumar Ghosh
Name of the College : Syamaprasad College
MONTH & YEAR : July-2023
 ACKNOWLEDGEMEN

I being a benefited student of Syamaprasad College, affiliated under the

University of Calcutta, would like to take this opportunity to express my profound
gratitude and regards to my supervisor, and to the entire Department of Commerce
for their exemplary guidance, monitoring and constant encouragement throughout
the course of the completion of the project “ONLINE BANKING A STUDY ON
THE USERS OF KOLKATA.”

The guidance given by them time to time shall carry me a long way in the journey
of my career on which I am about to embark. I would also like to express my
thankfulness to the college and university committee for providing me with the
opportunity to work on this project, and for their cordial support, valuable
information, and guidance, which helped me in completing this task through its
various stages.

I am thankful to all the people who willingly responded to the questionnaire and
their contribution has been invaluable. This project would not have been
completed without their participation. I am grateful for their cooperation during
the period of my project. Lastly, I thank to my parents and friends for their
constant encouragement without which the project would not have been possible.

Name : Rakesh Roy

College : Syamaprasad College

Roll No. : 201016-21-0111

Registration No : 016-1111-0430-20
 Table of Contents
PAGE
SERIAL NO. CONTENTS NO.
1. 2. Introduction
3. 4. Background of the Study
5. Objective of the Study
Research Methodology
Limitation of the Study
Chapter 1
Chapter Planning

Conceptual Framework
1. online banking - an overview different
types of online banking security issues in
Chapter 2 internet banking online banking in India
guidelines by RBI online banking national
& international scenario

1. P resentation of Data, Analysis, and Findings

Data Collection and Analysis findings
Chapter 3

1. Conclusion and Recommendation

2. Conclusion
Chapter 4 Recommendation

Bibliography

Annexure

Questionnaire
 CHAPTER-1
INTRODUCTION

1.1 BACKGROUND OF THE STUDY:

Online banking, also known as online banking, web banking or home banking, is an
electronic payment system that enables customers of a bank or other financial institution to
conduct a range of financial transactions through the financial institution's website. Online
banking significantly reduces the banks' operating cost by reducing reliance on a branch
network and offers greater convenience to customers in time saving in coming to a branch and
the convenience of being able to perform banking transactions even when branches are closed.
Online banking provides personal and corporate banking services offering features such as
viewing account balances, obtaining statements, checking recent transactions, transferring
money between accounts, and making payments. Online banking started in the United
Kingdom with the launch of Nottingham Building Society (NBS)'s Home link service in
September 1982, initially on a restricted basis, before it was expanded nationally in 1983.
Home link was delivered through a partnership with the Bank of Scotland and British Telecom's
Pestle service. In the United States in-home banking was "is still in its infancy" with banks
"cautiously testing consumer interest" in 1984, a year after online banking went national in the
UK. At the time Chemical Bank in New York was "still working out the bugs from its service,
which offers somewhat limited features”. The service from Chemical, called Pronto, was
launched in 1983 and was aimed at individuals and small businesses. It enabled them to
maintain electronic checkbook registers, see account balances, and transfer funds between
checking and savings accounts. The other three major banks Citibank, Chase Bank and
Manufacturers Hanover started to offer home banking services soon after. Chemicals Pronto
failed to attract enough customers to break even and was abandoned in 1989. Other banks had
a similar experience. Since it first appeared in the United States, online banking has been
federally governed by The Electronic Funds Transfer Act of 1978. Online banking arrived in
India in the late 1990s. ICICI was the first bank to champion its usage and introduced online
banking to its customers in 1996. With lower online costs and increased awareness about
electronic media, online banking established itself only in 1999. With online banking,
consumers aren't required to visit a bank branch to complete most of their basic banking
transactions. They can do all of this at their own convenience, wherever they want— at home,
at work, or on the go...

You can use different type of advantage, like:

1. Have your paycheck deposited directly into your bank or credit union checking account.

2. Withdraw money from your checking account from an ATM machine with a personal
identification number (PIN), at day or night.

3. Use a smart card with a prepaid amount of money embedded in it for use instead of cash
at a pay phone, expressway road toll, or on college campuses at the libraries photocopy machine
or bookstores.

4. Online banking allows customers of a financial institution to conduct financial

transitions one source website operated by the institution, which can be retail or virtual bank,
credit union or building society.

1.2 OBJECTIVES OF THE STUDY:

Online banking has become very much popular now a days throughout the globe. It has
made the banking system easier, faster, and more assessable. Now people are tried to learn more
about the E-banking. The primary objective of the research is to get the full experience of the
internet banking and its benefits. To add more knowledge about internet banking the following
are the secondary objective of this research study.
1. To know how the internet banking has revolutionized the banking sector.
2. To help the learners to know about the current concerns in the internet banking.
3. To know how challenging internet banking has become and how the banking sector
applies different strategies to cope up with the challenging environment.
4. To know how Use a smart card with a prepaid amount of money embedded in it for use
instead of cash at a pay phone, expressway road toll, or on college campuses at the libraries
photocopy machine or bookstores.
5. To understand the genesis and concept of online banking
 6. To analyses the present E-banking scenario concerned with ATM internet banking,
mobile banking, card debit banking, fund transfer and other banking serviced.

1.4 RESEARCH METHODOLOGY OF THE STUDY:

Data collection is an important step in any research work. The success of the research work
largely depends upon the authenticity of the data collected and how well the data is study and
interpreted. There are two types of data– i) Primary data, ii) Secondary data.

Primary data: The studying based on both of primary and secondary data. for the propose of
case study primary data have been collected from the people of KOLKATA, through google
form survey.

Secondary data: The secondary data have been collected from different articles and
website recourse such as WWW.WIKIPEDIA.COM and WWW.GOOGLE.COM and so
many others. We have used simple tables and graphs to analysis and present data.
Apart from this I also followed my supervisor’s instruction to finish the project.

Time period of the study: 30th March to 28th April

Area of the study: Kolkata

Sampling method used in the study: Purposive and Convenient sampling has been used for
conducting the survey.

Sample design of the study: For this study primary data have been collected from
Questionnaire.

1.5 LIMITATIONS OF THE STUDY:

Each and every theory has a limitation, this project being no exception has its fair share of
limitations as well, some of which are as follows:

• The research is on adoption of basic online-banking services in India, but this study was
conducted for mainly Kolkata only and all regions of India are not covered.
• While collecting primary data, information was not collected from the service
providers.
• There were several time constraints.
• The sample size of only 50 was taken from the large population for the purpose of study,
so there can be difference between results of sample from total population.
• Due to shortage of time, I have not been able to make a depth study.
• I could not collect data from outside of Kolkata.
• This study is based on the prevailing respondents’ satisfaction. But their satisfaction may
change according to time, fashion, need Etc.
• Due to continuous change in environment, what is relevant today may be irrelevant
tomorrow.

1.6 CHAPTER PLANNING:

The study is divided into 4 chapters and references:

Chapter 1: Introduction
Chapter 2: Conceptual Framework
Chapter 3: Data Collection and Analysis

Chapter 4: Conclusion and Recommendation

 CHAPTER-2
CONCEPTUAL FRAMEWORK

2.1 ONLINE BANKING – AN OVERVIEW:

• DEFINITION:

Online banking is an electronic payment system that enables customers of a financial institution
to conduct financial transactions on a website operated by the institution, such as a retail bank,
virtual bank, credit union or building society. Online bank is also referred as internet banking,
online banking, virtual bank and by other terms. ii. Online banking is the practice of making
bank transaction or paying bills via the internet. Thanks to technology, and the internet in
particular, people no longer have to leave the house to shop, communicate, or even do their
banking.

• FIRST ONLINE BANKING IN INDIA:

ICICI bank is the first one to have introduced online banking in 1994 for a limited range
of service such as access to account information, correspondence and recently funds
transfer between its branches. ICICI bank is also getting into e-trading, thus affirming a
broader range of integrated service to customer.

• ADVANTAGES:

Many banks began to offer customers the option if online internet banking, a practice that
has been advantage for both all parties involved. The convenience of being able to access
accounts at any time as well as the ability to perform transactions without visiting a local
branch, draw many people to be involved. Some of these advantages of internet banking
but are not limited to include:
 1. Customer convenience: Direct bank are open for business anywhere there is an
internet connection. They are also 24 hours, 365 days, and a year open while if internet
service is not available, customer service is normally provided around the clock via
telephone.
2. More efficient rates: The lack of significant infrastructure and overhead costs allow
direct banks to pay higher interest rates on saving and charge lower mortgage and loan rates.
some offers high yield checking accounts, high yield certificate of deposited and even no-
penalty CDs for early withdrawal in addition some accounts can be opened with no
minimum deposits and carry no minimum balance or service fee.
3. Services: Direct banks typically have more robust website that offer a comprehensive
set of features that many not are found on the website of traditional bank. These include
functional budgeting and forecasting tools, financial planning capability, investment
analysis tools, loan calculator and equity platforms. In addition, they offer free online bill
payment, online tax forms and tax preparation.
4. Transfer: Accounts can be automatically funded from a traditional bank account via
electronic transfer. Most direct bank offer unlimited transfer at no cost, including those
destined for outside financial institutions. They will also accept direct deposit and
withdrawals that the customer author such as payroll deposit and automatic bill payment.

• Disadvantage:

Internet banking seems like an obvious choice to leave the hassles of traditional money
management behind in exchange for it. However, there are potential problems associated with
banking over the internet of which customers may not be aware. Consumers need to weigh the
advantages as well as the disadvantage of internet banking before signing up.
Some of the disadvantages of internet banking include:

1. Bank relationship: A traditional Bank provides the opportunity to develop a personal

relationship with that Bank. Getting to know the people at your local branch can be an
advantage when a customer needs a loan or special service that is not normally offered to
the public. A bank manager usually has some distraction in changing the terms of customers
account if the customer's personal Circumstances change. They can help customers solve
problems such as reversing an undeserved fee. The banker also will get to know the customer
 and his unique needs. If the customer has a business account this personal relationship may
help if the customer needs capital to expand. It's easier to get the bank support if there is
someone who understands customer business and vouch for his operating.
2. Transaction issue: Sometimes a face-to-face meeting is required to complete complex
transaction and address complicated problem. Aortal regional bank and post meeting and
call-in expert to solve a specific issue. Moreover, international transaction may be more
difficult with some direct Bank. If a customer deposit cash on a regular basis a traditional
bank with driver-throw window maybe more practical and efficient.
3. Service issue: Some Direct Bank may not offer all the comprehensive financial
services such as insurance and brokerage accounts that traditional Bank offer. Traditional
Bank something of a special service to loyal customers such as preferred rates and
investment advice at no extra charge. In addition, routine service such as notarization and
bank signature guaranteed are not available online. This service is required for mini financial
and legal transaction.
4. Security: Direct Bank is subject to the same law and regulations as traditional banks
and accounts are protected by the FDIC. Accounts may be subject to phishing, hacker attacks
Malware and other unauthorized activity. It enables verification that all checks are signed
by the customers and that Dollar or Euro amounts have not be the change. The timely
discovery of discrepancies can be reported and investigated immediately.
5. Connectivity: Another issue is that something it becomes difficult veto note whether
your transaction was successful or not. It may be due to the loss of net connectivity in
between or due to a slow connection, or the bank's server is down.

2.2 DIFFERENT TYPES OF ONLINE BANKING:

a. ATM banking: Computerized machine that permits Bank customers to gain

access to their accounts with a magnetically encoded plastid card and code number. It
enables the customer to perform several banking operations without the health of a Teller,
such as to withdraw cash, make deposit, pay bill, and obtain bank statement, effects
transfer. Also called automated banking machine, automatic till machine or remote
service unit.
 b. Debit card: Debit cards are normally issued by financial institution and are
extremely useful because they eliminate the need to carry cash. This card is not the same
as credit card. When credit cards are used, the credit card company issues the payment
for the purchase and grants loan to the card holder for the purchase that was made. That
debit card is linked must have available funds at the time of the purchase. Also, Debit
card require a password to be used. The letter does not require a password to be used. In
essence, a debit card is essentially like using cash to pay for things.
c. Credit card: Standard size plastic token, with a magnetic strip that holds a
machine-readable code. Credit cards are a convenient substitute for cash or check, and
an essential component of electronic commerce and internet commerce. Credit card
holders draw on a credit limit approved by the card user such as a bank, Store or service
provider.
d. NEFT: National electronic fund transfer, NEFT is electronic fund transfer
system, which facilities transfer of funds to other bank account in over 63000 Bank
branches across the country. This is a simple, secured, safe, fastest and cost-effective way
to transfer fund especially for retail remittance.
e. UPI: UPI is a payment system that allows you to transfer money between any
two parties. UPI allows you to pay directly from your bank account to different merchant
without the hassle of typing your card details or net banking/ wallet transfer.

2.3 SECURITY ISSUES IN INTERNET BANKING:

• Type of frauds:
Now a day, the nature of attacks is more active rather than passive. Previously, the
threats where all passage such as password guessing, dumpster dives and shoulder
surfing. Here are some of the techniques used by the attacker today—

i. Spyware: Where is the number one way that online banking credentials are stolen and
used for fraudulent activities Spider works bike computer information either one year
computer know while it is transmitted between your computer and website. Often, it is
 installed through fake "pop up” ads asking you to download software. Industry standard
antivirus product deletes and removes software of this type, usually by blocking the
download and installation before it can infect your computer.
ii. Viruses: Viruses are designed to compromise your computer system and allow
other to gain access to your file etc. This is different than spyware in that a virus search
for information considered being of value, where is spyware will wait for input for action
from whoever is using the computer. A system that is compromised may be used to attack
other system denying people legislation access to service. One of the most common
scenarios with virus is what they will discover financial data such as payroll file, bank
account information and credit card information. This information is then transferred to
criminal who sell it on the black market or worse - use it for blackmail. Criminals can
get anywhere from pennies lake to core rupees for each piece of information, depending
on what it is and how they can exploit it.
iii. Spam: Spam is an electronic" junk mail" or unwanted messages send to your
mail account on mobile phone. This messages very, but essentially e commercial and
often annoying in their sheer volume. They may try to persuade you to buy a product or
service, or visiting a website where you can make purchases, or they may attempt to
trick you into divulging your bank account or credit card details.

2.4 ONLINE BANKING NATIONAL & INTERNATIONAL SCENARIO:

National Scenario:

▪ Scenario of Online banking in India: Opening of economy in 1991 marked the

entry of foreign banks. They brought new technology with them. Banking products became
more and more competitive. There was need for differentiation of products and services.
The ICICI Bank kicked off online banking in 1996. 1996 to 1998 marked the adoption
phase, while usage increased only in 1999, owing to lower Internet Service Provider (ISP)
online charges, increased PC penetration and a tech-friendly atmosphere. To cope with the
pressure of growing competition, Indian commercial banks have adopted several initiatives
and banking is one of them. The competition has been especially tough for the public sector
banks, as the newly established private sector and foreign banks are leaders in adoption of
banking. Indian Banks offer to their customers following banking products and services:
i. Automated Teller Machines
ii. Internet Banking
iii. Mobile Banking
iv. Phone Banking
v. Electronic Clearing Cards
vi. Smart Cards
vii. Electronic Fund Transfer

International Scenario:

▪ Online banking includes customer acceptance and satisfaction, privacy concerns,

profitability, operational risks, and competition from nonbanking institutions (Boss et al.,
2000, Smith, 2006, Hwang et al, 2007, Shin, 2008). Between 1995 and 2003, online
banking increased eightfold (Hogarth and Angelo, 2004).
▪ Online banking defined as the delivery of banking services through the open-access
computer network directly to customer’s home or private address. Simpson (2002) suggests
that online banking is driven largely by the prospects of operating costs minimization and
operating revenues maximization. A comparison of online banking in developed and
emerging markets reveal that in developed markets lower costs and higher revenues are
more noticeable. Karjaluoto (2002) electronic banking is a construct that consists of several
distribution channels. DeYoung (2005) analyze the performance of Internet-only banks
versus the brick and mortars in the US market and find strong evidence of general
experience effects available to all start-ups. Between late 2002 and early 2005, use of online
banking increased 47%, clear evidence that online banking is associated with better
household financial management (Smith, 2006). For the past two decades, the banking
sector has chosen a new service channel based on the progress of information technology -
the Internet- to respond to the changes in customer preferences and needs, increased
competition from non-banks, changes in demographic and social trends, and government
deregulations of the financial service sector Byers, R.E. and Lederer, P.L. (2001)
▪ Online banking links business to customers no matter their geographical location. It
allows companies to make new business contacts from different global business alliances,
test new products and services, and make market research and other enquiries all at a
 minimal cost both financial and otherwise (Shin, 2008). The adoption of new IT
applications is influenced largely by factors related to overall organizational attitudes and
culture as well technical and infrastructural elements Shah.M and Clarke.S. (2009).
Additional research was conducted by Khorshid and Ghaneh Khorshid, S. and Ghane, (2009)
and in their article on ranking the challenges of online banking identified for managers of banks,
customers’ privacy, security, and customers’ trust as issues arising. For customers, reputation
of bank, regulations and laws, and easy accessibility were seen as the main challenges for the
development of online banking.
 CHAPTER -3
PRESENTATION OF DATA, ANALYSIS AND
FINDINGS:
The competitive pressures and the evolving requirements of consumers have required the banks
to develop new technologies and tools. Internet banking that has revolutionized the banking
industry worldwide is a product of this innovation. In general, Internet banking refers to the
use of Internet as a delivery channel for the banking services, including traditional services,
such as opening an account or transferring funds among different accounts, as well as new
banking services, such as electronic bill presentment and payment, which allow the customers
to pay and receive the bills on a bank’s web site. In India, slowly but steadily, the Indian
customer is moving towards Internet banking. A number of banks have either adopted Internet
banking or are on the threshold of adopting it. The Indian banks started Internet banking
initially with simple functions such as getting information about interest rates, checking
account balances and computing loan eligibility.
Then the services were extended to online bill payment, transfer of funds between accounts
and cash management services for corporate. The banks are using Internet banking technology
to meet the ever-increasing competition. It has also emerged as a strategic resource for
achieving higher efficiency, control of operations and reduction of cost by replacing paper
based and labor-intensive methods with automated processes thus leading to higher
productivity and profitability. Internet based electronic banking is one of the newest and least
researched but most promising delivery channel for retail banking services. No doubt,
considerable literature on this phenomenon is available worldwide, but in Indian context, there
are only conceptual papers throwing light over the importance of Internet banking and its
prospects for the Indian banking industry. The present study aims to quantify the current state
and performance of Internet banking in India in terms of various Internet banking services
being offered and the factors that drive the development of such services.
o SURVEY PROFILE:

▪ For study a survey was conducted from 30th March 2023 to 28th April 2023 for the
project “online – banking”. This survey was done on the basis of 50 respondents
from various sectors.

▪ Mainly the object of the research is understood online banking user’s behavior,
opinions, preferences and expectations. The questions were designed in such way
to cover all the relating fields. The fieldwork and data analysis were conducted by
me after consulting with my supervisor and with the help of my friend. I am very
much grateful to them.

o SURVEY TABLE

Duration of survey 30th March 2023 to 28th April 2023

Target of population Local people of Kolkata (Kolkata)

Survey method Questionnaire

Effective response rate (50 of 50)

 A. DATA ANALYSIS AND INTERPRETATION:

a. PERSONAL DETAILS:

• GENDER BASIS ANALYSIS:

25

20

15

10

0
USE ONLINE BANKING NOT USE ONLINE BANKING

MALE FEMALE

GENDER USE ONLINE NOT USE ONLINE TOTAL

BANKING BANKING
MALE 22 6 28

FEMALE 12 10 22

TOTAL 34 16 50

• INTERPRETATION
Data collection from 50 respondents, out of 34 respondents performs online banking and
this is represented by a Column with Male and Female basis analysis.
 • AGE BASIS ANALYSIS:

AGE GROUP

60%

44%

40%

19 - 39 40 – 60 ABOVE 60

AGE FREQUENCY PERCENTAGE CUMULATIVE

GROUP (%) FREQUENCY
19 - 39 22 44 % 22

40 – 60 20 40 % 42

ABOVE 60 8 16 % 50

• INTERPRETATION
Data collection from 50 respondents, out of 0 respondents performs in below 18 age group,
22 respondents’ in 19 – 39 age group, 20 respondents’ in 40 – 60 age group and 8
respondents’ in above 60 age group.
 • OCCUPATION BASIS ANALYSIS:

OCCUPATION

24%
38% STUDENT
EMPLOYEE
BUSINESSMEN

38%

OCCUPATION FREQUENCY PERCENTAGE CUMULATIVE

FREQUENCY

STUDENT 13 38% 13

EMPLOYEE 13 38% 26

BUSINESSMEN 08 23.53% 34

INTERPRETATION
Among 34 respondents 38% are student, 38% are employee & 25.53% are businessmen.
 b. QUESTIONS:

1. Do you use internet for online banking system?

32%

68%

YES NO

USE ONLINE FREQUENCY PERCENTAGE CUMULATIVE

BANKING SYSTEM FREQUENCY

YES 34 68% 34

NO 16 32% 50

• INTERPRETATION
Data collected from 50 respondents out of 34 respondent’s use online banking and 16
respondents do not use online banking.
 2. How frequently do you use online banking
service?

32%

58%

10%

DAILY WEEKLY NEVER

FREQUENCY PERCENTAGE CUMULATIVE

USE OF ONLINE
FREQUENCY
BANKING

DAILY 29 58% 29
WEEKLY 5 10% 34
NEVER 16 32% 50

• INTERPRETATION
Among 50 respondent 29 are use online banking daily, 5 are use online banking weekly
and 16 are never use online banking.
 3. How much do you spend for a single online
transaction?

12%

15%
47%

26%

BELOW Rs.1000 Rs. 1001-5000 Rs. 5001-10000 AVOBE Rs. 10000

FREQUENCY PERCENTAGE CUMULATIVE

SINGLE
ONLINE FREQUENCY
TRANSATION
BELOW RS.1000
16 47% 16
RS. 1001-5000
9 26% 25
RS. 5001-10000
5 14.70% 30
AVOBE 10000
4 11.76% 34

• INTERPRETATION
Among 34 respond 16 people spend for a single transaction below rupees 1000 and 9 people
1001 to 5000 rupees and 5 people 5001 to 10000 rupees and 4 people above 10,000 rupees.
4. In which bank do you have an account?

20%

36%

10%

10 %

24%

SBI ICICI HDFC BOB KOTAK 811

FREQUENCY PERCENTAGE CUMULATIVE

BANK ACCOUNT
FREQUENCY
SBI 18 36% 18
ICICI 12 24% 30
HDFC 5 10% 35
BOB 5 10% 40
KOTAK 811 10 20% 50

• INTERPRETATION
Among 50 respondents, 18 respondents have SBI bank account, 12 people have ICICI
bank accounts, 5 people have HDFC bank account, 5 people have BOB Bank account,
and 10 people have KOTAK 811 bank account.
 5. Do you use Debit card?
0%

100 %

YES NO

FREQUENCY PERCENTAGE CUMULATIVE

USE DEBIT CARD FREQUENCY

YES 50 100% 50

NO
0 0% 0

• INTERPRETATION
Among 50 respondents out of 50 are use debit card.
 6. Do you use E-wallet?

20%

80%

YES NO

USE OF EWALLET FREQUENCY PERCENTAGE CUMULATIVE

FREQUENCY

YES 10 20% 10

NO 40 80% 50

• INTERPRETATION
Among 50 respondents 10 are use E-wallet & 40 are not use E-wallet.
7. Are you aware of the security threats and fraud
into online banking?

10%

90%

YES NO

AWARENES OF FREQUENCY PERCENTAGE CUMULATIVE

FRAUDS FREQUENCY
YES 45 90% 45

NO 05 10% 50

• INTERPRETATION
It is good to see that most of the users are aware about the securities issue of net banking,
but even we are having thorough knowledge about internet banking, some of the
respondents are acne prone that the method adopted is to secure the transaction.
8. Have you facing any issues while using online banking?

12%

59% 29%

ALWAYS VERY OFTEN NEVER

FACING ISSUE FREQUENCY PERCENTAGE CUMULATIVE

WHILE USING FREQUENCY
ONLINE BANKING

ALWAYS 4 12% 4

VERY OFTEN 10 29% 14

NEVER 20 59% 34

• INTERPRETATION
Among 34 respondents, 4 people are “always” facing issue, 10 people are “very often”
facing issue, 20 peoples are “never” facing issue while using online banking.
9. Do you think online banking is better from
traditional banking system?

32%

68%

YES NO CAN'T SAY

AWARENES OF FREQUENCY PERCENTAGE CUMULATIVE

FRAUDS FREQUENCY
YES 34 68% 34

NO 0 0% 34
CAN’T SAY 16 32% 50

• INTERPRETATION
About 50 respondents 34 people said “YES” & 16 people said “CAN’T SAY”.
 10. Give your overall rating in online banking service?

50% 50%

EXCELLENT GOOD

FREQUENCY PERCENTAGE CUMULATIVE

OVERALL RATING
FREQUENCY

EXCELLENT 25 50% 25

GOOD 25 50% 50

• INTERPRETATION
The satisfaction level of people with the online banking service of their banks has a mixed
review. 25 people are rating "excellent” and 25 people are rating "good”.
B. FINDINGS:
❖ 50 people respond to this study. But out of 34 people claim that they perform online
banking service.
❖ Out of 50 people 22 are male and 12 are female, that's mean the male have more
knowledge about the transaction and having more knowledge about the service
provided by the banks.
❖ Most of the respondents between 19-39 is using online banking service.
❖ Among 34 respondents 26 people are employee and students. Because the service
are more benefits toward this people.
❖ It is very interesting to see that 18 people have accounts in SBI, 12 people have
accounts in ICICI and 10 people have accounts in KOTAK 811 Banks. But SBI
bank has more customer than others.
❖ Most of the online banking users tend to spend rupees 1000 or below this amount in
a single transaction.
❖ This study revealed that most of the users claim that day ever of security threats and
they took recommended steps to secure the net banking.
❖ Maximum number of respondents claims that their banks do not charge extra
charges for net banking facility.
❖ People told that they will continue online banking activities in future.
❖ People also claim that fund transfer, e-deposit, ATM service bill payment service,
loan and credit service, e-tax payment and internal security service should be
modified in near future.
❖ More people are highly satisfied with the services and some people are satisfied and
remain are not properly satisfied.
 CHAPTER-4
CONCLUSIONS AND RECOMMENDATIONS

A. Conclusion:
➢ In a country like India, there is need for providing better and customized service to the
customers. Banks must be concerned about the attitudes of customers with regard to
acceptable of internet banking. The importance of security and privacy for acceptance
of internet banking has been noted in many earlier studies and it was found that
people blamed that they have knowledge about security issue but they have no clear
idea about all kind fraud. The present study shows that customers are more reluctant
to accept new technologies or methods that might contain little risk. Hence, bank
chute designs the website to address security and trust issue.
➢ The survey was conducted with 50 people of Kolkata, Kolkata area. So, we cannot
say that this is the real trend of net banking of whole the country.
➢ People are not confident enough to weather to completely phone online banking.
Where is hesitancy in their mind with regards to preference? So, they use both the
online and offline banking.
➢ At the time of survey when give questionnaire is to people, they very casually feel it
without him of the depth of the study.
➢ Another point is people are not disclosing their personal data truly.
➢ Due to shortage of time data cannot be collected from all types of people.
➢ The study was conducted with the help of students, employee, and businessman etc...
➢ The study reveals that ATM banking, bill payment and online transaction etc. are
perfect by so much many respondents but it does not reflect that NEFT, RTGS service
are not performed by the people.
B. Recommendation:

We can see that time is changing and we can now accept in technology but there is
still a lot of virtual blocking which hampered compress the growth its normal
tendency of technology, that why the growth of internet banking is very primitive in
nature.

Recommendation to banks:
➢ Bank should over the RBI norms and provided facility as per the norms. But this
is not completely followed by the banks. Some of our respondent’s complaint
that their bank does not give feedback of online transaction in proper time. If
customers do not get proper feedback then their interest in online service will be
reduced. So, Bank should take proper steps to build their feedback service.
➢ Internet banking facilities must be made available in all banks as well as in all
branches.
➢ There are some cooperative banks in this area and this type of banks field does
not have core banking facilities. For this reason, this type of bank losses their
customers. So cooperative banks should be covered under banking system.
➢ Link failure is a big problem officially in UCO Bank and for this reason the
important business deal has been hampered. Bank should modify their software
immediately.
➢ Now some banks installed automatic balance update machine to avoid customer
harassment but all banks should accept this system very quickly.
➢ Banks should develop their service not only in town areas but also in village
areas. Banks should install more and more ATMs in both urban and rural areas.
➢ There is another problem I faced at the time of conducting the survey that the
respondents complained that there are so many ATMs machines in this locality
but most of the ATM have normally no cash at all. So, bank should explain this
service with rural cash filling.
➢ Banks are now using two factor authorization i.e. password and OTP but they
should improve that and using three factor authorization because hackers
something break the two factor of Rajasthan system.
Recommendation to user:
➢ Use anti-virus and maintain the integrity of your computer by scanning regularly
for computer virus.
➢ Keep using the same computer or mobile for online banking email and web
browsing always in log out banking season before checking email or web
browsing. Computer virus today are capable to installing themselves through
email links as well as web sites where just passively moving your mouse over
an image would be enough to install a script that grabs each online banking
credentials and allows take criminal to settle money from your account. Always
keep your anti-virus software up to date.
➢ Always use original operating system with of original commercial antivirus
which would be better than crack version for free sample.
➢ If you are using computer with multiply operating system, you must separately
install antivirus for each OS.
➢ Do not response to email requesting account information, account verification
for banking Access credential such as username, password, pin code and similar
information.
➢ Frequently change your password on mind for better protection.
➢ Last but not the least, some of our respondents shared that they received a phone
call by which a male or female given news that the respondents old lottery 25
laces or a big amount from either their mobile company or somewhere else. But
the fact is this type of caller one customer's bank details for ATM card detail to
send the huge money and some were trapped by it and told them they are very
confidential information and then the scam happened when customer went to
check the bank balance this is there is no balance at all and this is very shocking
news to them. So do not believe such phone call or email otherwise you will be
cheated and looted.
 BLIOGRAPHY

Websites:
▪ www.google.com
▪ www.wikipedia.in
▪ www.rbi.org.in
▪ www.rbi.in
▪ www.slideshare.net
 Annexure- IA
Supervisor's Certificate

This is to certify that MR. RAKESH ROY a student of B.Com. Honours in Accounting &
Finance of Syamaprasad College under the University of Calcutta has worked under my
supervision and guidance for his Project Work and prepared a Project Report with the title of
“ONLINE BANKING A STUDY ON THE USERS OF KOLKATA” which he is submitting,
is his genuine and original work to the best of my knowledge.

Signature

Name: Prof. Tapas Kumar Ghosh

Name of the College: Syamaprasad College
Place: Kolkata
Date:
 Annexure- IB
Student's Declaration
I hereby declare that the Project Work with the title “ONLINE BANKING A STUDY ON
THE USERS OF KOLKATA” submitted by me for the partial fulfilment of the degree of
B.Com. Honors’ in Accounting & Finance the University of Calcutta is my original work
and has not been submitted earlier to any other University for the fulfilment of the
requirement for any course of study.
I also declare that no chapter of this manuscript in whole or in part has been incorporated
in this report from any earlier work done by others or by me. However, extracts of any
literature which has been used for this report has been duly acknowledged providing
details of such literature in the references.

Signature

Name: Rakesh Roy

Address: Rania Arabindo Nagar (Bansdroni)
Kolkata-154
College: Syamaprasad College
Roll No.: 201016-21-0111
Registration No: 016-1111-0430-20
Place: Kolkata
Date:
 Questionnaire
➢ Questionnaire:

A. Personal details:
NAME ………………………………………………………………

1. AGE -
[ ] Below 18, [ ] 19 – 39, [ ] 40 – 60, [ ] Above 60
2. GENDER -
[ ] Female, [ ] Male
3. OCCUPATION -
[ ] Student, [ ] Employee, [ ] Businessman

B. Project specific:
1. Do you use internet for online banking system?
Yes [ ], No [ ]
2. How frequently do you use online banking service?
Daily [ ], Weekly [ ], Monthly [ ], Never [ ]
3. How much do you spend for a single online transaction?
Below Rs. 1000 [ ], Rs. 1001-3000 [ ]
Rs. 3001-10000 [ ], Above Rs. 10000 [ ]
4. In which bank do you have an account?
SBI Bank [ ], ICICI Bank [ ], HDFC Bank [ ], KOTAK 811 Bank [ ]
5. Do you use debit card?
Yes [ ], No [ ]
6. Do you use E-Wallet?
Yes [ ], No [ ]
7. Are you aware of the security threats and fraud into online banking?
Yes [ ], No [ ],
8. Have you encountered any issues while using online banking?
Always [ ], Very Often [ ]
9. Do you think online banking is better than traditional banking system?
Yes [ ], No [ ], Can’t Say[ ]
10. Are you aware of the security threats and fraud into online banking?
Yes [ ], No [ ],
11. Give your overall rating in online banking service?
Excellent [ ], Good [ ]