SGPC’s GURU NANAK INSTITUTE OF MANAGEMENT STUDIES

Matunga (E), Mumbai-400019

FUNCTIONAL PROJECT
TITLED
“MERGERS AND ACQUISTIONS IN THE
INDIAN BANKING WITH REFERENCE TO
ICICI BANK”
Submitted in the partial fulfillment for the award of the Degree of

Master of Management Studies (MMS)

(Under University of Mumbai)

MR SHARDA MOHIT MUKESH

[MMS, DIV-A, ROLL NO-52]

SEMESTER IV & FINANCE

BATCH: 2017-19
Under the Guidance of

Prof Kapil Bhopatkar

(project guide)

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 SGPC’s GURU NANAK INSTITUTE OF MANAGEMENT STUDIES
Matunga (E), Mumbai-400019

CERTIFICATE

This is to certify that project titled “Study of Mergers and acquisitions in

the Indian banking with reference to ICICI bank” is successfully
completed by Mr. Mohit Sharda during the IV Semester, in a partial
fulfillment of Master’s Degree in Management Studies recognized by the
University of Mumbai for academic year 2017-19 through Guru Nanak
Institute Of Management Studies.

This project work is original and not submitted earlier for the award of any
degree / diploma or associate ship of any other University / Institution

Place: Mumbai
Date:

Name of the Project Guide: KAPIL BHOPATKAR

Signature of the Project Guide:

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 DECLARATION

I hereby declare that this project report submitted by me to the Project Guide
Prof Kapil Bhopatkar is a bonafide work undertaken by me and it is not
submitted to any other University or Institution for the award of any degree
diploma /certificate or published any time before.

Name of Student: Sharda Mohit Mukesh

Signature of the Student:

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 ACKNOWLEDGEMENT
In the course of this project, I have received help from a number of people. I
would like to take this opportunity to thank them all. I am grateful to our
College Administration for giving me an opportunity to do this Project. It is
my great pleasure and privilege to address my gratitude towards our
respected Dr. D. Y. Patil. Also, I would sincerely thank my project guide
Prof. Kapil Bhopatkar, Guru Nanak Institute of Management Studies, who
have motivated and encouraged me with her able guidance and support for
the successful completion of this project.

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 TABLE OF CONTENTS
Sr No Topic Page No
1 INTRODUCTION 2

2 REVIEW OF LITERATURE 8

3 METHODOLOGY 15

4 RESULTS 16

5 DISCUSSION 26

6 CONCLUSION 28

7 BIBLIOGRAPHY 29

8 ANNEXURE 30

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INTRODUCTION

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 EXECUTIVE SUMMARY

The Title of the project is “STUDY ON FINTECH AND DIGITAL BANKING “. This
project is done to gain knowledge about the working of fintech and digital banking in
India. It is an attempt to understand the different aspect of fintech and how it has changed
the payment system in India. This project also covers different aspects of digital banking
and the services offered by it.

This project also helps to understand people’s perception towards changing technology in
the finance sector, as digital banking and Fintech seems to be the future if India finance
sector. The report concentrates on the usage of E-wallet and E-banking system and to
understand in which area it is used the most i.e in investment, payments or banking
services.The tool used for analyzing is questionnaire. Andaccordingly, findings and
conclusion are given

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 INTRODUCTION

FINTECH

Financial technology, often shortened to FinTech or fintech, is the new technology and
innovation that aims to compete with traditional financial methods in the deliver financial
service. It is an emerging industry that uses technology to improve activities in
finance. The use of smart phone for mobile banking, investing, services are examples of
technologies aiming to make financial services more accessible to the general public.
Financial technology companies consist of both startups and established financial
institutions and technology companies trying to replace or enhance the usage of financial
services provided by existing financial companies. Many existing financial institutions
are implementing Fintech solutions and technologies in order to improve and develop
their services, as well as gaining an improved competitive stance.

FinTech firms are transforming the financial services landscape in India. Our recently
concluded research (the EY FinTech Adoption Index 2017) shows that India has leapt to
the second place, only behind China, in the adoption of FinTech services across an array
of industry segments. FinTech adoption in India is astonishingly high — more than half
of our sampleof Indian consumers claim to have used more than two FinTech products in
the last 6 months.

Driven by mobile wallets, and more recent innovations including the Unified Payment
Interface (UPI) platform, Indian consumers have embraced the use of mobile payments
for day-to-day transactions. Other FinTech services are also gaining rapid adoption.
Consumers are flocking to insurance aggregator and bank aggregator sites for comparison
shopping. Peer-to-peer (P2P) platforms for high interest investments and online stock
broking and investment sites are becoming increasingly popular. Borrowing is also being
transformed — “digital lenders” are providing consumers with a simpler, less–paper
borrowing experience while leveraging alternate data as a credit surrogate to provide
credit to non-traditional borrowers.

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Indian consumers are hungry for new, simple and personalized digital experiences. The
level of affinity with existing financial services providers (especially for younger Indian
consumers) is low and this is spurring interest in new FinTech service providers. Over the
last few years, India has also built a world-class enabling architecture for financial
services that is spurring innovation. Almost all FinTech challengers are leveraging the
Aadhaar ecosystem (India’s universal biometric identity with linked mobile number and
bank account) and related services to simplify account opening and servicing.

Small and Medium Enterprises (MSMEs) desirous of procuring funds from the formal
financial sector are not able to access institutional credit. In fact, nearly 80% of MSMEs
end up being self-financed, and 32% end up relying on friends or family networks for
credit, with an additional 12% turning towards informal banking networks. Improving
only at a snail’s pace, the relevant statistics paint a rather gloomy picture of the Indian
economy, making clear that we urgently need to ameliorate access to finance in India

DIGITAL BANKING
Electronic banking is an umbrella term for the process by which a customer may perform
banking transactions electronically without visiting a brick-and-mortar institution. The
following terms all refer to one form or another of electronic banking: personal computer
(PC) banking, Internet banking, virtual banking, online banking, home banking, remote
electronic banking, and phone banking. PC banking and Internet or online banking is the
most frequently used designations. It should be noted, however, that the terms used to
describe the various types of electronic banking are often used interchangeably.
Electronic banking is an activity that is not new to banks or their customers. Banks
having been providing their services to customers electronically for years through
software programs. These software programs allowed the user‘s personal computer to
dial up the bank directly. In the past however, banks have been very reluctant to provide
their customers with banking via the Internet due to security concerns. Today, banks
seem to be jumping on the bandwagon of Internet banking. Why is there a sudden
increase of bank interests in the Internet? The first major reason is because of the
improved security and encryption methods developed on the Internet. The second reason

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is that banks did not want to lose a potential market share to banks that were quick to
offer their services on the Internet.
E-banking is defined as the automated delivery of new and traditional banking products
and services directly to customers through electronic, interactive communication
channels. E-banking includes the systems that enable financial institution
customers.Individuals or businesses, to access accounts, transact business, or obtain
information on financial products and services through a public or private network
including the Internet,Customers access e-banking services using an intelligent electronic
device. The E-banking was firstly introduced in India by the ICICI around 1996. There
after many other banks like HDFC, SBI, IDBI, Citibank Trust Banks, UTI, etc followed
the service. As today private and foreign bank had started capturing the market through e-
banking hence ―the competition is heating up and the lack of technology can make a
bank loose a customer‖ so now the public banks are breaking the shackles of traditional
set-up and gearing up to face the competition posed by the private sector counterparts.
The Indian banking system is seeing a fabulous change in the quality of service provided
by them. Technology is the root of this change, which is implemented by the banksto win
more business from customers. Almost all the private sector banks are moving towards e-
enabling their existing products. HDFC Bank and ICICI Bank have taken a lead in
introducing e-banking in India. Internet banking starts from migrating existing products
to the net. This started 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. Recently, banks started setting up payment
gateways for B2B and B2Ctransactions. This is to facilitate payment for ecommerce
transactions by directly debiting bank accounts or through credit cards. Banks can earn a
commission based income, on the transaction or sale value resulting in higher other
income. This could be more than the revenues they can generate from credit card
transactions. Private sector banks have leveraged the Internet effectively in taking away
the customers from public sector banks and significantly increased their revenue
potential. Internet banking is just one manifestation of these banks technological
capabilities. They have a complete automation, an electronic customer database, real time

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transaction processing capabilities and the latest technological platforms. Management of
these banks is very focused in using technology as a key competitive tool. The capability
of the management is also visible in terms of their profitability. Among the private sector
banks HDFC Bank and ICICI Bank have excellent returns on equity compared to their
peers in the industry

SERVICES PROVIDED BY FINTECH FIRM AND DIGITAL BANKS

1 Payment:
Banks Bill Pay is the easiest way to manage bills. A/c holder can pay their regular
monthly bills i.e. telephone, electricity, mobile phone, insurance etc. at anytime,
anywhere for free.Saves time and effort. Make bill payments at customer‘s convenience
form their home or office.Lets a/c holders check their hill amount before it is debited
form their account. No debits to account without their knowledge. No more missed
deadlines, no more loss of interest –can schedule their bills in advance, avoid missing the
bill deadlines as well as earn extra interest on their money.Track payment history – all
payments to a biller are stored automatically for future reference. No queuing up at
collection centers or writing cheque any more! Just a few clicks and customers account
will be debited for the exact amount they ask
.
2 E-Cheques ( Online Fund Transfer):
Customer can transfer funds Transfer funds between accounts, even if they are in
different branches‘ cities Customer can also transfer funds to any person having an
account with the same bank anytime, anywhere, using third party funds transfer option.

3 Personal Finance or Investment Services

Fintech companies are also growing around the need to provide customized financial
information and services to individuals, that is, how to save, manage, and invest one’s
personal finances based on one’s specific needs. Examples are FundsIndia.com, Policy
Bazaar, Bank Bazar

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Advantage and Disadvantage of E-Wallet and E-Banking
Advantages
1. Benefits to Consumers:
General consumers have been significantly affected in a positive manner by E-banking
and e-wallets. And e-wallet .Many of the ordinary tasks has now been fully automated
resulting in greater ease and comfort. Customer’s account is extremely accesses able
with an online account. Customer can withdraw can at any time through ATMs that are
now widely available throughout the country. Besides withdrawing cash customers can
also have mini banks statements, balance inquiry at these ATM. Through Internet
Banking customer can operate his account while sitting in his office or home. There is
no need to go to the bank in person for such matter. E banking and e-wallets has also
greatly helped in payment of utility bill. Now there is no need to stand in long queues
outside banks for his purpose now a customer can shop worldwide without any need of
carrying paper money with him.
2. Benefits to General Economy:
Electronic Banking and e-wallets as already stated has greatly serviced both the general
public and the banking industry. This has resulted in creation of a better enabling
environment that supports growth, productivity and prosperity. Besides many tangible
benefit in form of reduction if cost, reduced delivery time, increased efficiency, reduced
wastage, e-banking electronically controlled and thoroughly monitored environment
discourage many illegal and illegitimate practices associated with banking industry like
money laundering, frauds and embezzlements. Further E-banking and e-wallet has helped
banks in better monitoring of their customer base.. Besides all this E-banking and e-
wallets has also helped in documentation of the economic activity of the masses.
3. Benefits to Banking Industry:
Banking industry has also received numerous benefits due to growth of E-Banking
infrastructure. There are highlighted below: The growth of E-banking has greatly helped
the banks in controlling their overheads and operating cost. Many repetitive and
tedious tasks have now been fully automated resulting in greater efficiency, better time
usage and enhanced control. The rise of E-banking has made banks more competitive. It

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has also led to expansion of the banking industry, opening of new avenues for banking
operations. Electronic banking has greatly helped the banking industry to reduce paper
work, thus helping them to move the paper less environment. Electronic banking has also
helped bank in proper documentation of their records and transactions. The reach and
delivery capabilities of computer networks, such as the Internet, are far better than any
branch network.
Disadvantages
1. Lack of trust:
Still many customers do not trust online mode of service especially for money related
transactions. Users who are not seasoned in e-banking and e-wallet feel very
uncomfortable as they have doubt regarding the correctness of the transaction done by
them online. As they require some kind of proof of transaction as receipt, to verify their
transactions.
2. Difficult for first timers:
First time users find it difficult to use as they find the process not that easy .They might
not like and therefore stop using them .They find it difficult because as they is no one to
one assistance and everything has to be done by oneself . Uneducated people will not opt
for this kind of technology
3. Impersonal:
Absence of face to face interaction makes it very impersonal. Thus, customers who are
more comfortable in dealing with that provide those personalized services rather than
mechanical interaction is not a good option for them.
4. Security fraud:
People generally hesitate to have an online bank account due to the security risk
involved in it. Although, it is not a big issue for banks providing e-banking services, as
they prioritize security. To avoid security risk, banks use the most advanced security
system in protecting their websites.

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 FinTech and its impact on Indian Financial Services

FinTech innovations, products and technology India’s FinTech sector may be young but
is growing rapidly, fueled by a large market base, an innovation-driven startup landscape
and friendly government policies and regulations. Several startups populate this emerging
and dynamic sector, while both traditional banking institutions and non-banking financial
companies (NBFCs) are catching up. This new disruption in the banking and financial
services sector has had a wide-ranging impact. In India, FinTech has the potential to
provide workable solutions to the problems faced by the traditional financial institutions
such as low penetration, scarce credit history and cash driven transaction economy. If a
collaborative participation from all the stakeholders, viz., regulators, market players and
investors can be harnessed, Indian banking and financial services sector could be changed
dramatically. FinTech service firms are currently redefining the way companies and
consumers conduct transactions on a daily basis.
The Indian FinTech industry grew 282% between 2013 and 2014, and reached USD 450
million in 2015. At present around 400 FinTech companies are operating in India and
their investments are expected to grow by 170% by 2020.. The transaction value for the
Indian FinTech sector is estimated to be approximately USD 33 billion in 2016 and is
forecasted to reach USD 73 billion12 in 2020
Banks / NBFCs/Securities market/Insurance Companies Technological innovations help
making the financial system more efficient, especially if they lead to an increase in
competition. New technological processes often result in greater user-friendliness. More
competition leads to a greater choice of providers and products at a lower price,
especially if there is competition in each segment of the value chain. Innovative new
entrants provide an incentive for established financial institutions to become more
competitive and focus more on their customers, whilst at the same time also offering
added value themselves to consumers. Moreover, competition can have a positive impact
on integrity in the sector, because customers – pampered by greater choice – demand
more transparency and integrity. Banks may be encouraged to collaborate with
FinTech/start-ups to improve their customer experience and operational excellence.
Banks may also undertake FinTech activity in areas like payments, data analytics and risk

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management. The impact of technological innovations on many incumbents in the
banking industry has been limited to date, which may be due to limited technological
capabilities and lack of awareness at the consumer level. Additionally, technological
innovations tend to follow a so-called “hype cycle”. According to this concept, there is
typically a tendency to overestimate the implications of new technologies in the short
term and underestimate the implications in the longer term. The key risks emerging
across various FinTech scenarios are as under. The potential increase of
profitability/solvency risk, and of multiple aspects of operational risk (both systemic and
idiosyncratic elements). While incumbent banks’ business models are already under
pressure in the current low interest rates environment and with more stringent
regulations, additional challenges are posed by the FinTech developments.

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COMPANY OVERVIEW
PAYTM

PAYTM is an Indian e-commerce payment system and digital wallet company, based out
of NOIDA SEZ, India.

Paytm is available in 10 Indian languages and offers online use-cases like mobile
recharges, utility bill payments, travel, movies, and events bookings as well as in-store
payments at grocery stores, fruits and vegetable shops, restaurants, parking, tolls,
pharmacies and education institutions with the Paytm QR code.[ California
based PayPal had filed a case against Paytm in the Indian trademark office for using a
logo similar to its own on 18 November 2016 As of January 2018, Paytm is valued at $10
billion.[4]

As per the company, over 7 million merchants across India use this QR code to accept
payments directly into their bank account. The company also uses advertisements and
paid promotional content to generate revenues.

HISTORY

Paytm was founded in August 2010 with an initial investment of $2 million by its
founder Vijay Shekhar Sharma in NOIDA, a region adjacent to India's capital New Delhi.
It started off as a prepaid mobile and DTH recharge platform, and later added data card,
postpaid mobile and landline bill payments in 2013.

By January 2014, the company launched the Paytm Wallet, and the Indian
Railways and Uber added it as a payment option. It launched into E-commerce with
online deals and bus ticketing. In 2015, it unveiled more use-cases like education fees,
metro recharges, electricity, gas, and water bill payments. It also started powering the
payment gateway for Indian Railways.

In 2016, Paytm launched movies, events and amusement parks ticketingas well as flight
ticket bookings and Paytm QR Later that year, it launched rail bookings and gift cards.

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Paytm's registered user base grew from 11.8 million in August 2014 to 104 million in
August 2015. Its travel business crossed $500 million in annualised GMV run rate, while
booking 2 million tickets per month

In 2017, Paytm became India's first payment app to cross over 100 million app
downloads. The same year, it launched Paytm Gold, a product that allowed users to buy
as little as ₹1 of pure gold online. It also launched the Paytm Payments Bank and ‘Inbox’,
a messaging platform with in-chat payments among other products. By 2018, it started
allowing merchants to accept Paytm, UPI and Card payments directly into their bank
accounts at 0% charge. It also launched the ‘Paytm for Business’ app, allowing
merchants to track their payments and day-to-day settlements instantly. This led its
merchant base to grow to more than 7 million by March 2018.

MOBIWIK

MobiKwik is an Indian company founded in 2009 that provides a mobile phone

based payment system and digital wallet.Customers add money to an online wallet that
can be used for payments. In 2013 the Reserve Bank of India authorized the company's
use of the MobiKwik wallet, and in May 2016 the company began providing small loans
to consumers as part of its service. The company launched its MobiKwik Lite mobile
app in November 2016, designed for users of older 2G mobile networks and for those in
areas with poor internet connectivity. In November 2016, the company reported having
1.5 million merchants using its service and a user base of 55 million customers

HISTORY
MobiKwik was founded in 2009 by husband and wife team Bipin Preet Singh and
Upasana Taku. Singh, a 2002 graduate of IIT Delhi, saw an opportunity to improve
mobile recharge options. He seeded the company with USD$250 thousand of his own
money, developed the website and payment options, and rented office space in Dwarka,
Delhi.[8] The initial service was a website with a closed wallet facility, but over the years,
MobiKwik extended their service to mobile apps. The company initially partnered with
online merchants to make their wallet available as a payment option on e-commerce sites

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GOOGLE PAY

Google Pay stylized G Pay (formerly Pay with Google and Android Pay) is a digital
wallet platform and online payment system developed by Google to power in-app and
tap-to-pay purchases on mobile devices, enabling users to make payments
with Androidphones, tablets or watches.

As of January 8, 2018, the old Android Pay and Google Wallet have unified into a single
pay system called Google Pay. Android Pay was rebranded and renamed as Google Pay.
It also took over the branding of Google Chrome's autofill feature. Google Pay adopts the
features of both Android Pay and Google Wallet through its in-store, peer-to-peer, and
online payments services.

The rebranded service provided a new API that allows merchants to add the payment
service to websites, apps, Stripe, Braintree, and Google Assistant. The service allows
users to use the payment cards they have on file with Google Play.

The Google Pay app also added support for boarding passes and event tickets in May
2018

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REVIEW OF LITERATURE

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 REVIEW OF LITERATURE
SINGAL, NIDHI (2016)The article discusses the mobile E-wallet and E-baking that
loads money for payment of bills which is hassle free and saves time. Topics mentioned
include the high success rate on making payments with transactions in less than 10
seconds, the loading of money which does not risk the credit card and bank account limit,
and the offered services by electronic commerce company Paytm including buying
tickets, institutions fees payment, and money transfers
AGARWAL NITIN carried out study in India found that there is a bright future for E-
Wallet and E-banking.. Security of mobile payment transactions and the unauthorized use
of mobile phones to make a payment were found to be of great concerns to the mobile
phone users. Security and privacy were the major concerns for the consumers which
affect the adoption of digital payment solutions. The adoption of mobile wallet among
consumers in Finland as only at the beginning stages of the Innovation-Decision Process.
Doing payments via mobile phones has been in use for many years and is now set to
explode Also mobiles are increasingly being used by consumers for making payments.
“Digital Wallet “has become a part of consumers which are nothing but smart phones
which can function as leather wallets. Digital wallet offered many benefits while
transferring money such as convenience, security and affordability. Growth in technology
has opened many modes of payments through which consumers can do transactions
which are more convenient, accessible and acceptable consumers have an inclination
towards mobile payment apps usage. Offering various benefits such as flexi payment
digital wallet brands are providing extra convenience to consumers. Major factor in
adoption of digital wallet is convenience in buying products online without physically
going from one location to another location. There has been many studies conducted in
past on mobile payment application to find consumer interest and they found consumer
has positive inclination for the same
Ambarish Salodkar [2015]discusses that there are numerous applications like Paytm,
freecharge, mobiquick etc. These applications can be downloaded and used for different
purposes like making bill payments, doing online shopping and recharging phones etc.
Some of these applications have their own portals a person can perform all the above
mentioned and many more tasks via app itself. In all the applications a person has to link

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his credit/ debit card number with the application to make use of services provided by
app. This paper also discusses different characteristics, various needs and risks of
electronic payments. The author agrees on the fact that e-wallets allow the users to enjoy
comfortable and easy going platform to shop and pay, that too in minimal possible time.
Roopali [2015] worked upon studying how digitalization of payments can be considered
as a boon to growth of a country’s economy. Authors also done an in depth analysis of
adoption patterns i.e. how people reacts and adopts digital wallets. In his analysis, he
concluded that the number of users incorporating the habit of believing and using digital
wallets has increased tremendously. People find it a more convenient and less time
consuming way for making the payments. It also elaborates about top five digital wallets
in India. However the question of security remains unanswered. People feel helpless at
the time of making international transactions. A lot of security mechanisms are yet to be
explored to make the transactions foolproof.
Pinal Chauhan [2016] elaborated how e-Wallets are going to make money transaction
less cumbersome for the users. The people who use mobile applications just need to make
payment at point of sale just after doing the purchasing. Author also throw light on server
side e-wallets and client side e-wallets. An encryption algorithm, known by the name
RC4 is used for providing a secure transaction. Even after having some demerits like
interoperability, advantages overweigh the disadvantages

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METHODOLOGY

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 1. PROJECT TITLE:
Study on Fintech and Digital Banking

1. OBJECTIVES AND LIMITATIONS OF THE PROJECT

Objectives:
1. To understand the working of Fintech and Digital Banking in India.
2. To know the area in which the fintech is used the most such as investment
,payment ,banking and services.
3. To study how Fintech will improve the efficiency and consistency with its
customer.

Limitation:

1. The study is restricted to Mumbai region only.

2. The study is for specific time frame only.

3. SCOPE:

To study the growth of fintech and digital banking in different areas

4. METHODOLOGY TO BE USED:

Analytical study

5. SOURCE/S OF DATA:

Sources of Primary Data: Questionnaire

Sources of Secondary Data: Website, Journals

6. DATA COLLECTION INSTRUMENT:

Questionnaire with 60 respondents.

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RESULTS

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Q1 Do you use E –wallet and Digital Banking for Financial Transaction?

Usage

3.3 3.3

Only E-wallet
36.7
Only E-Banking
Both

56.7 None

From above pie diagram we can understand that the usage of both E-wallet and E-
banking is the highest i.e 56.7 % in the survey conducted .So we can state that E-wallet
and E-banking are used for financial transaction. .Whereas only E-banking is the second
most used way for financial transaction i.e 36.7% .The people using only E-wallet is very
less i.e 3.3%. People not using any of the above are 3.3%

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Q2 Which E-wallet do you prefer for payment?

E-Wallet
3.30%

8.10%

10.00% Paytm
AmazonPay
GooglePay
other
78.60%

From the above pie chart we can state the post preferred E-wallet for payment is paytm
with 78.60% .It is also the most used E-wallet when we compare from other E-wallet.
The Amazon E-wallet is also with 10% and Google Pay with 8.10 % and others with
3.3%.

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Q3 For what purpose do you use E-wallet Payment?

purpose

10%

11%
Utility Bill Payment
Online Grocery Store
9.00%
Online Travel Portals
E-commerce Portals
70%

From the survey we can see that E-wallet is most used for Utility bill payment with 70%
we can state people prefer using E-wallet most for Utility payments purpose. E-wallet is
also used for online grocery store with 9%, online travel portal with 11% and e-
commerce portals with 10%. E-wallets cab be used for all the above purposes more we
people are made aware about it.

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Q4 How often do you use E-wallet Payment?

Use of E-wallet
2.40%

9.50%

Daily
23.80% Once a Week
2-3 Times per week
Once a month
64.30%

The above pie chart shows the frequency of the use of E-wallet .People tend to use the E-
wallet at least once a week with 64.30% .23.80% people tend to use E-wallet 23.80%
and 9.50% use the wallet once a month .and 2.40% people use the E-wallet daily.

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Q5Which of the following Digital banking service do you use?

The most used digital banking service is for paying utility bills with 83.3%. People use
digital bank service mostly for paying the ones utility bills. Digital banking is used for
online grocery purpose with 26.2%. Online travel portals with 19% and e-commerce
portals 52.4% preferences.

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Q6 Which online banking operation do you use the most?

Online banking operation is most used for bank transfer with 87.9% by the people and
then they used the E-banking for paying their utility bills with 81% .People tend not to
use E-banking for investment and loan that much when compared to others .As people
preferring to use E-banking for investment purpose is 29.3% and that for loan is 5.2%
only which is the least.

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Q7 What is the frequency of online banking transactions?

frequency
5.20% 0

10.30%

Daily
Once a Week
2-3 Times per week
Once a month

84.50%

The frequency of using online banking service is very frequent as compared to E-wallets
.People use the above service 2-3 times a week i.e 84.50% .People using E-banking once
a week constitute to 10.30% and once a month to 5.20%.

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Q8 Why do you prefer E-wallet and Digital Banking services?

13%

Function of quick pay and

transfer
Instant Cashless Payment
20%
Easily Gain access to product
59%
Get Reward and discount offer

8%

Most of the people prefer E-wallet and digital banking service for the purpose of rewards
and discount offer. 59% people use the above only for rewards and discount. 20% people
prefer because of its instant cashless payment whereas 13% people prefer it for quick pay
and transfer and 8% for easy access to product.

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Q9 What are the challenges for not using digital banking services frequently?

The main reason for not using digital banking service frequently is the privacy issue
which is about 82.5%. This shows people fear that their personnel information is not safe
while using such services. 22.8% do not use because they are not aware about such
service. 15% people fear of fraud happening by using such service.

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Q10 What are the main reason for not using E-wallet?

The main reason for not using E-wallet is unreliable service with 40% whereas 38.3%
people feel inconvenient for using E-wallet. 11.7% people fear fraud and 25% do not use
because of low privacy.

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Q11 What are the main disadvantage of online banking according to you?

70% people do not use digital banking service because of low privacy issue, whereas
25% people feel it inconvenient for using such services 10% fear fraud and 21.7% find it
difficult to use. 13.3% people feel the source of such services is unreliable.

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DISCUSSION

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 DISCUSSION

 The usage of E-banking is comparatively more than E-wallet. According to the

survey conducted people preferring only E-banking was 36.7% whereas only E-
wallet constitute 3.3%.
 People prefer using E-Wallet and E-banking mostly for paying their utility bills.
grocery store, booking tickets etc
 In spite of many security issues, people are inclined towards e-payments because
of its convenience, ease of use, quick service and availability.
 The usage of E-banking per week is comparatively more than E-wallet .As per the
survey conducted people use E-banking approximately 2-3 times a week.
 The reason people do not prefer using E-banking or E-wallet is people fear of
fraud, low privacy issue this is the major reason the usage of such service is so
low.
 If proper awareness and knowledge will be provided to the customer then the
usage of E-wallet and E-banking will increase tremendously in the future.
 According to the survey also we can find out that people prefer using the service
for multiple uses.

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CONCLUSION

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 CONCLUSION

Based on this study, the opinion of the 60 respondents on the various aspects of e-
banking and E- wallet .we can conclude that financial technology will be widely used by
the people in coming future. People will tend to use it all aspect of their payment ,
investment or any of the banking or service related .The use of fintech and digital
banking over the year will be used in all form of payment be it payment of bills,
investment etc. If people are made more aware about the usage of this service then most
the payment will be done through E-wallet.

E-Wallet and E-banking will be used more if people are well informed and aware about it
different purpose and that it is safe in all aspects.

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BIBLIOGRAPHY

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 BIBLOGRAPHY

(2019, 1). Retrieved from fintech : www.fintech .com

(2019, 1). Retrieved 1 2019, from www.digital banking.com: www.digital banking .com

(2019, 1). Retrieved from e-banking and service : www.e-banking.com

(2019, 1). Retrieved from working of fintech: www.wrokinf of fintech.com

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