A

SIP Report
On

A study of Electronic Payment System in SBI

Warud Branch
Submitted By

Miss. Darshana R.Tekade

M.B.A. 2019-20
PRPCEM, Amravati

Under the guidance of

Name of the Counselor
Assistant Professor
PRPCEM, Amravati

TO

Training & Placement Coordinator

Department of MBA
P. R. Pote (Patil) Education & Welfare Trust’s
Group of Institutions (Integrated Campus),
College of Engineering and Management, Amravati.
Gajanan Township, Kathora Road,
AMRAVATI
2018-19
 Content Page

SN Contents Pg. No.

1 Introduction about Project

2 Company Profile

3 Objectives of the SIP

4 Methodology of the Study

5 Working Areas

6 Data Analysis

7 Findings

8 Conclusions

9 Suggestions

10 Bibliography
 DECLARATION

I Miss. Darshana R. Tekade hereby declare that the Summer

Internship Project entitled, A study of Electronic Payment System SBI
branch Warud is the result of my own work and that the same has not
been previously submitted to any examination of this or any other
university. The SIP shall be liable to rejected/cancelled if found
otherwise.
 A Study of Electronic Payment System in SBI Warud Branch

INTRODUCTION:-

E-payment systems are important mechanisms used by individual and organizations as

a secured and convenient way of making payments over the internet and at the same
time a gateway to technological advancement in the field of world economy In addition, it
has also become the major facilitating engine in ecommerce through which electronic
business success relied upon. Electronic payment system had also brought about
efficiency, fraud reduction and innovativeness in the world payment system Furthermore,
e-payment system tends to bring many electronic modes of payments through which
financial institutions offer different e-payment opportunities and services to their
customers such as the credit cards, debit cards, on-line banking and mobile banking As
a result, the adoption of e-payment technology is ever increasing in today’s business
environment and public sector establishments, ; However, despite all these benefits
associated with e-payment, adequate ICT know-how among users and fear of security
breach remain the most concern of individuals, organizations and experts in the field of
information system .

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Meaning of E-payment System

E-payment system is a way of making transactions or paying for goods and services
through an electronic medium without the use of check or cash. It’s also called an
electronic payment system or online payment system.
The electronic payment system has grown increasingly over the last decades due to the
widely spread of internet-based banking and shopping. As the world advance more on
technology development, a lot of electronic payment systems and payment processing
devices have been developed to increase, improve and provide secure e-payment
transactions while decreasing the percentage of check and cash transaction.
Definition

Electronic Payment is a financial exchange that takes place online

between buyers and sellers. The content of this exchange is usually some form of digital
financial instrument (such as encrypted credit card numbers, electronic cheques or
digital cash) that is backed by a bank or an intermediary, or by a legal tender.

The various factors that have lead the financial institutions to make use of electronic
payments are:

1. Reduced operational and processing cost:

Due to technology cost the processing cost of various commerce activities

becomes very less. A very simple reason to prove this is the fact that in electronic
transactions we save both paper and time.

2. .Increasing reduced online commerce:

We began E-Commerce with EDI, this was primarily for large business houses
not for the common man . Many new technologies, innovations have lead to use
of E-Commerce for the common man also.

3. Decreasing technology cost:

The technology used in the networks is decreasing day by day, which is evident
from the fact that computers are now dirt-cheap and Internet is becoming free
almost everywhere in the world

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Benefits of using an e-payment system

 More effective and efficient transactions. It’s because these are made just in
minutes (even with one-click), without wasting customer’s time.

 It also lowers the whole transaction cost.

 Today it’s easy to add payments to the website, so even a non-technical person
may implement it in minutes and start processing online payments.

 Payment gateways and payment providers offer highly effective security and anti-
fraud tools to make transactions reliable.

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Reasons for selecting the project:-

Whenever an individual or a company uses a credit that means they are borrowing
money that they promise to repay with in a pre-decided period. In order to assess the
repaying capability i.e. to evaluate their credit worthiness banks use various techniques
that differ with the different types of credit facilities provided by the bank. In the current
scenario where it is seen that big companies and financial institutions have been
bankrupted just because of credit default so credit Appraisal has become an important
aspect in the banking sector and is gaining prime importance.
It is the incident of credit defaults that has given rise to the financial crisis of 2008-
09. But in India the credit default is comparatively less that other countries such as US.
One of the reasons leading to this may be good appraisal techniques used by banks and
financial institutions in India. Eventually the importance of this project is mainly to
understand the credit appraisal techniques used by the banks with special reference to
SBI.

OBJECTIVES OF THE SIP :-

The overall objective of this project is to understand the electronic payment system
in banks. This electronic payment System has been analysed as per the different e -
banking facilities provided by the bank. The detailed explanation and process has been
discussed in detail in the further chapters.

To Study the electronic payment sector, at State Bank of India (SBI).

To understand the concept of internet banking and importance ,to bank as well as
customers.

To get aware of various aspects of net banking.

To build up SWOC analysis of internet banking of SBI.

To build up various solutions for drawbacks in net banking.

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ORGANISATION PROFILE

TYPE Public
Traded as NSE: SBIN
BSE: 500112
LSE: SBID
BSE SENSEX Constituent
CNX Nifty constituent
Industry Banking, financial services

Founded 2nd June 1806, Bank of Calcutta

27th 1921, Imperial Bank of India
1st 1955, State Bank of India
2nd June 1956, Nationalization
Headquarters Mumbai, Maharashtra
Area served Worldwide
Key people Rajnish Kumar(Chairman)
Products consumer banking, corporate banking,
Finance and insurance, investment banking,
Mortgage loans,E banking

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State Bank of India (SBI) is an Indian multinational, public sector banking and financial
services company. It is a government-owned corporation headquartered in Mumbai,
Maharashtra. The company is ranked 216th on the Fortune Global 500 list of the world's
biggest corporations as of 2017. It is the largest bank in India with a 23% market share in
assets, besides a share of one-fourth of the total loan and deposits market.
The bank descends from the Bank of Calcutta, founded in 1806, via the Imperial
Bank of India, making it the oldest commercial bank in the Indian subcontinent.
The Bank of Madras merged into the other two "presidency banks" in British India,
the Bank of Calcutta and the Bank of Bombay, to form the Imperial Bank of India, which
in turn became the State Bank of India in 1955. The Government of India took control of
the Imperial Bank of India in 1955, with Reserve Bank of India (India's central bank)
taking a 60% stake, renaming it the State Bank of India. In 2008, the government took
over the stake held by the Reserve Bank of India.

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SBI LOGO:-

Ever thought about the meaning of the logo of India's largest public sector bank,
State Bank of India? Read on to find out the answer.

The first emblem for the State Bank of India was adopted in 1955 showing a
Banyan tree because of its strong roots and branches which are capable of
propagating and growing in all directions, depicting growth, success and stability.
However, the logo was abandoned as it invited criticism because of the fact that a
Banyan tree does not let any other plant grow within its space.

At present, the logo of State Bank of India is a blue circle with a small cut at the
bottom.

It was designed by Shekhar Kamat, an alumni of National Institute of Design,

Ahemedabad. The logo was unveiled on October 1, 1971, on the day of
inauguration of the SBI Central Office building at Backbay Reclamation, Bombay.

The design of the logo is open to several interpretations.

One of the concepts behind the design of this logo is that the big circle in blue
reflects unity and completeness while the white one represents common man as a
vital part of the bank, despite the huge size of the bank.

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SBI TAGLINE:-

“Bade Bank Ke Bade Faayde”

SBI SLOGAN AND PUNCHLINE:-

“The Nation banks on us; Pure Banking Nothing Else; With

you all the way”

SBI VISSON MISSION AND VALUE

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BOARD OF DIRECTORS:-

Shri Rajnish Kumar

(CEO of SBI)

Shri P.K.Gupta Shri Dinesh Shri Arijit Basu Shri Sanjeev

Managing Kumar Khara Managing Malhotra
Director Managing Director Director
Director

Details of SIP(Summer Internship Program):-

Branch Name:-
WARUD

IFSC CODE:-
SBIN0000502 (Used for RTGS, IMPS and NEFT Transaction)

MICR Code:-
444002102

Address:-
WARUD
DISTRICT :- AMRAVATI (MH)

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METHODOLOGY OF THE STUDY:-

Methodology is the systematic, theoretical analysis of the methods applied to a

field of study. It comprises the theoretical analysis of the body of methods and principles
associated with a branch of knowledge.

Sample Unit :-

SBI YONO registration of Customers in Warud Branch

Sample Size :-

Sample size 75 Customers.

Sampling Technique :-

Descriptive Sample Technique.

Data Collection method :-

1) Primary data
2) Secondary data

DATA ANLYSIS:

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NO OF YEARS BHIM YONO PAYTM

2016 37% 18% 65%

2017 48% 28% 69%

2018 75% 35% 72%

2019 82% 58% 85%

Why Did We Choose

INTERNET BANKING??

 Internet banking is becoming more and more popular among the masses.

 To provide more quality information on internet banking.

 Make the concept and procedure more familiar.

 To warn against its negative effects.

What is Internet Banking all about

Internet Banking means any user with a personal computer and browser can connected to
his bank’s website to perform any of the virtual banking function:

 Balance enquiry
 Transfer to fund
 Online payment of bills
 Accrued interest, fees and taxes
 Transaction details of each account
 Account credit card and home loan balances
 Transfer funds to third party account you nominal
 Open a deposit right from the terminal you are sitting at

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How to access Internet banking ?

Before you can access your account online, you;ll need to register with your bank
for internet banking

, your bank will give you a registration number or login ID.you’ll also need a
password(IPIN) your internet password is different from the PIN you use with your debit
card.

Onec your bank has your approved your registration,you’re able to access your account
online

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To proceed further, Please keep SBI Debit Card & Registered mobile number with
you.

Procedure for applying SBI YONO Internet banking online:-

STEP 1:

Go to your bank’s website

STEP 2:

Now open the application and select ” I am existing customer.

Register for YONO”

STEP 3:
Next screen you will be asked: “Do you have Internet Banking ID?”
Tap on yes.

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STEP 4:

Now enter your SBI net banking user id and login password.

STEP 5:
Next screen set 6-digits login MPIN. You can log in using this MPIN on
YONO.

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STEP 6:

Now you will receive OTP on your bank registered mobile number,
enter this OTP and tap on next.

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FINDINGS:-

(1) Many customer of State Bank of India us online Process of yono

registration and BHIM SBI PAY.

(2) Internet center in the study area is the place for using internet for around
50 percent of the respondents.

(3) The services such as “Withdrawals using ATM”, “Debit Card Facilities”,
“Internet Banking”, “e-Transfer of Funds”, “User friendliness of e- banking
” provided in the private sector banks are significantly much better than in
Those public sector bank.

(4)There is significant relationship between functional / psychological

barriers / benefits and importance of Internet banking among bank

customers.

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CONCLUSION:-

Internet banking is changing the banking industry and is having the major effects on
banking relationships.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 economical way of
providing banking services.banking is now no longer confined to the traditional brick and
mortar branches,where one has to be at the branch in person,to withdraw cash or deposit a
cheque or request a statement of accounts.
Providing internet banking is increasingly becoming a ‘need to have’than a “nice to
have’services.

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