Digital Banking Research Paper by Sufyan Shaikh

Thesis Submitted To
for Degree of
‘Master of Commerce’
In
Faculty of Commerce
Subject: Accountancy
By
Mr. Sufyan S. Shaikh
University Enrollment No.: 202000913010110
Year: 2021-2022
Under Guidance of
Dr. Nimisha Shah
Asst. Professor in Statistics
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CERTIFICATE
This is to certify that Mr. Sufyan S. Shaikh has work and completed his project work for degree of
“MASTER OF COMMERCE” in the FACULTY OF COMMERCE in subject of ACCOUNTANCY on
title of the project work to be written “Digital Banking” under my supervision.
It is his own work and fact reported by his personal findings and investigation.
Name and Signature of Guide Date of Submission
Stamp of Institute with Date
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Declaration of the Student
I the undersigned Mr. Sufyan S. Shaikh hereby, declare that this project work entitled “Digital Banking” is
a result of my own research work and has not been previously submitted to any other universities for any
other examination.
I hereby declare that all information of this document has been obtained and presented in accordance with
academic rules and ethical conduct.
College Seat No./Enrollment No.: 202000913010110
Year: 2021-2022
Date: Name and Signature of Guide
Place: Ahmedabad
Month:
Signature:
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ABSTRACT
The main objective of this study is to get and provide better knowledge about the topic “Digital Banking”.
As in this modern era digital banking is a better option for the bank consumers to get proper information
about their accounts associated with the partner bank to get the information at anytime from anywhere in the
world easily as banking services can be reached out 24 hours a day, 7 days a week, 4 weeks a month and 365
days in a year without approaching the branch. Digital banking has been made easy as it can be accessed
from anywhere through mobile phones, internet and by this usage it has been leading in the increase in
digital devices usage and it also satisfies the customer to get and avail the banking service digitally without
approaching the bank. Bank performance is now no longer dependent on the branch sales by providing such
a great service digitally.
This thesis focuses on the rising usage of banking services and the cause of using it. The research in the
thesis takes a broad approach in the investigation of digital banking, customers experience and bank
financial performance. The research demonstrates how digital banking is helping Banks to increase their
profitability.
When the pandemic occurred during the year 2020, it accelerated the adoption of the new technology across
various sectors like banking, industries, etc. The dependence on these advanced technologies made a great
impact in the rise of using the services digitally in a great extent. The recent annual report of 2020-2021 of
Reserve Bank of India (RBI) shows the total digital transactions volume in the year 2020-2021 stood at INR
Rs. 4,371 crores against Rs. 3412 crores in the year 2019-2020 showing the flexibility of the digital
payment system in the face of the Covid pandemic.
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ACKNOWLEDGEMENT
The research under this thesis has been carried out under the guidance of Dr. Nimisha Shah. This work
would not have been made possible without the support rendered to me during the course of the research.
Therefore, I would like to thank the supervisor for her advice and guidance throughout the research project,
which contributed immensely to the research quality and my own development.
My special thanks go to my professor in charge Dr. Nimisha Shah who have given me a lot of moral support
during the research. My special thanks also go to my family for their continuous support and guidance.
Finally, I would like to show the gratitude to my cousin brother. He has been very understanding,
instrumental and supportive in the entire research duration.
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CONTENTS
Sr. Particulars Page

No. No.
1. Title 1
2. Certificate 2
3. Declaration of the Student 3
4. Abstract 4
5. Acknowledgement 5
6. Contents 6
7. List of Abbreviations 7
8. List of Tables 8
9. List of Figures 8
10. Chapter 1 – Introduction 9 – 21
11. Chapter 2 – Review of Literature 22 – 30
12. Chapter 3 – Research Methodology 31 – 29
13. Chapter 4 – Analysis and Discussion 30 – 42
14. Chapter 5 – Findings and Recommendations 43 – 62
17. Conclusion 63
18. Bibliography 64 – 67
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List of Abbreviations
1. NEFT National Electronic Funds Transfer

2. IMPS Immediate Payment Service
3. UPI Unified Payment Interface
4. ATM Automated Teller Machines
5. SMS Short Message Service
6. PC Personal Computer
7. CRM Customer Relationship Management
8. ICICI Industrial Credit and Investment Corporation of India
9. PAN Permanent Account Number
10. BHIM Bharat Interface for Money
11. NPCI National Payments Corporation of India
12. PSP Payment Service Provider
13. COD Cash On Delivery
14. MB Mobile Banking
15. TEC Technology Characteristics
16. FD Fixed Deposit
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List of Tables
Table 1: Branches and ATMs of Scheduled Commercial Banks as of end March, 2021
Table 2: Digital Banking Products Services
Table 3.4.5: Difference Between Qualitative & Quantitative Research Design
Table 4: Age of the Respondents
Table 5: Gender of the Respondents
Table 6: Educational Qualification
Table 7: Employment
Table 8: Experience at Employment Level
Table 9: Respondents Linked with Bank Account
Table 10: Types of Bank Account
Table 11: Bank Branch Visit
Table 12: Usage of ATM Per Month
Table 13: Purchases Made using Digital Banking
Table 14: Difference Between UPI And NEFT
Table 15: Difference Between RTGS And IMPS
List of Figures
Figure 3.7: Banking Structure in India
Figure 3.8: Research Process
Figure 4.4.3: Different Research Design
Figure 5.5: Process of Research Design
Figure 5.10: Types of Research Design

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Title Page No.
1.1 Overview 11
1.2 Introduction 11
1.3 What is Digital Banking? 12
1.4 Digital Delivery Channels 13
1.5 Digital Banking Products 16
1.6 History of Digital Banking 17
1.7 Advantages of Digital Banking for Consumers 19
1.8 Challenges or disadvantages of Digital Banking 20
1.9 Conclusion 21
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1.1 Overview
The offer of the services through a digital medium via digital banking services has a rapid rise in the usage
of the services as when the campaign of digital India was introduced by the Government of India with a
vision to transform the Nation India into a digitally empowered society and knowledge of the economy. It is
a campaign launched to ensure that the services are made available to the citizens of the country by
increasing internet connectivity to get the proper usage of the services through the online mode.
Digital Banking has played a major role in improving the profitability and financial performance of every
banks. Increase in the usage of the services offered by the banks through online via a digital medium through
their applications.
1.2 Introduction
Digital banking is one of the biggest achievements of electronic commerce. This growth of e-business can be
attributed to rapid change in Web technology and Internet environment. Out of these, investment and retail
banking are too much affected by online technologies and at the same time extracts maximum benefit from
e-commerce. E-Commerce is having huge impact on banking. These changes are by the virtue of changes in
technology, regulation changes of finance, onset of new banking organizations and economic restructuring.
To synchronise with these environmental changes banks are re designing their cost and profit structures.
Today's banks rely on Innovation and Technology to differentiate their financial offers. This technological
change also leads to development of new products and services. The technology has changed the way that
consumers and banks interact. Electronic access to bank statement, fund transfer between accounts,
electronic bill payment, use of financial software, online payment, or transferring payment through credit or
debit cards can be called as new services provided through internet banking. Without any doubts these
facilities have raised the speed of retail banking as well; but still, one has to remember that, technology is
double edged sword. No doubt, Banking sector have become more competitive but it has also lead to huge
competition within on-banking firms as well. Recently many non-banking players have made stronghold and
threatening the core banking role players.
Due to World Wide Web, Internet and Electronic Commerce, there is paradigm shift in banking sector.
Digital Banking can be known as one of the best achievements of electronic commerce. The rapidly world
entering into the Net Age. The growth of Information technology and internet has facilitated the emergence
of Digital Banking. Digital Banking is the application of advanced technologies for sharing the resources
based on financial information in electronic from which can minimize the need for the physical presence of
the consumers in the bank branches and offices. Digital Banking provides opportunities for banks to raise the
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speed and efficiency in their services to customers at any time of the day (24 hours) and anywhere without
the need of physical presence at bank and through the electronic channels. Today’s banking is called as
virtual banking. Virtual banking provides the banking services with the use of IT, without direct resource to
the bank by customers. Virtual banking services mainly include Automated Teller Machine (ATM), smart
cards, phone banking, electronic funds transfer at point of sale (EFTPOS), home banking and internet
banking. In traditional banking the customers have to visit the bank personally to be served with the banking
operations and use the banking services such as cash withdrawals, account inquiry, opening the account,
funds transfer and etc. But Digital Banking provides the banking services to their customers by sitting at
their own places and performs banking transaction through their personal computer (PC), laptop or smart
phone. Digital Banking consumers can easily access the bank website (interface) for checking their account
details and perform the transactions as they require. Digital Banking is also knowledge based and mostly
scientific in using various electronic devices of the computer revolution so digital banking can be considered
as more of science than art. Digital Banking nowadays has becomes a virtual banking counter that either
individual or corporate customer can carry out the regular activities. Digital Banking includes the systems
that enable financial institution customers, individuals or businesses, or gain information on financial
products and services through a public or private network, including the internet.
Apart from technological changes there are certain other elements which are changing the characteristics of
banking industry. Therefore, to device heir online strategy banks should understand the nature of
competitive environment.
1.3 What is Digital Banking?

Digital Banking is:
➢ Electronic banking.
➢ Enrich standard online.
➢ Delivering a customized experience to customers.
Digital Banking is the move from traditional banking activities and programs services towards an online
platform which is available to customers of a bank and they can get the access of their account situated in the
bank via a digital medium. Customers can access their accounts data from anywhere, anytime and anyplace.
Banking services are available 24 hours a day, 7 days of a week and 365 days in a year.
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Consumer preferences has quickly shifted to online and mobile devices, but many of the financial
organizations struggles to adopt banking services to online services and also to the smaller mobile device
screens. Unfortunately, banks can no longer afford to wait to invest in digital transformation because
customers are increasing their willing to switch banks for digital features such as payment of bills, mobile
recharges and applications of loans, etc.
In addition, until the past few years, banks were not predicting the great shift in consumer behaviour that
occurred as a result of the visionary generation becoming the largest consumers of financial products. Today,
more than 70% of consumers report banking online at least once per month, so banks invest in great online
experiences.
The good news is that according to Deloitte’s 2019 Banking and Capital Markets Outlook, banks are finally
starting to prioritize their digital banking efforts to match consumer expectations. That’s good news for
consumers that over 50% of banks are making their evolution to digital banking their top priorities.
The Banking activities includes:
1. Money Deposits, Withdrawals and Transfers.

2. Checking or saving account.
3. Applying for financial products issued by the banks.
4. Loan Management.
5. Payment of Bills Online.
6. Account services such as checking balance available in the account.
7. Getting monthly statement of the account.
1.4 Digital Delivery Channels
1.4.1 ATMs
Now banks are using ATMs to cross sell various products like railway, movie or air tickets. In the near
future ATMs will function like kiosk delivering non cash transactions.
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Number of On-site Off-site Total
Sr.
Name of the Banks Branches
No. (2) (3) (2+3)
(1)
Public Sector Banks 86,311 78,007 59,106 1,37,113
1. Bank of Baroda 8,214 8,663 2,970 11,633
2. Bank of India 5,025 2,388 3,163 5,551
3. Bank of Maharashtra 1,915 1,505 445 1,950
4. Canara Bank 10,446 9,128 4,324 13,452
5. Central Bank Of India 4,608 2,746 898 3,644
6. Indian Bank 6,002 4,239 686 4,925
7. Indian Overseas Bank 3,201 2,720 425 3,145
8. Punjab And Sind Bank 1,531 1,067 30 1,097
9. Punjab National Bank 10,768 8,610 5,171 13,781
10. State Bank of India 22,221 25,706 36,911 62,617
11. UCO Bank 3,056 2,146 215 2,361
12. Union Bank Of India 9,324 9,089 3,868 12,957
Private Sector Banks 26,095 25,191 34,574 59,765
13. HDFC Bank Ltd. 5,250 6,268 7,793 14,061
14. Axis Bank Ltd. 4,609 5,447 12,030 17,477
15. Bandhan Bank Limited 4,555 485 - 485
16. ICICI Bank Limited 5,297 7,258 10,172 17,430
17. IDBI Bank Limited 1,887 2,207 1,476 3,683
18. IndusInd Bank Ltd 1,762 1,255 1,505 2,760
19. Kotak Mahindra Bank Ltd. 1,600 1,269 1,250 2,519
20. Yes Bank Ltd. 1,135 1,002 348 1,350
Table 1: Branches and ATMs of Scheduled Commercial Banks as of end March, 2021
Source: RBI Data
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1.4.2 Smartcards
Smart card is a chip-based card which acts as electronic valet. The microchip in the card stores the value
and when transaction is made the value is debited to holder’s account.
1.4.3 Tele-banking
Telebanking is becoming popular serving channel for marketing of banking services because it enables
customer to perform all non-cash related banking transactions over the phone anywhere anytime.
1.4.4 Electronic fund Transfer (EFT):
Electronic fund transfer facilitates the customers with making transaction and distributing funds directly to
any account individual or business electronically, quickly, automatically and accurately. EFT increases
accuracy through digital banking and reduces employee’s time spent on administration and decreases costs
of distribution.
1.4.5 Point of Sale (POS) banking:
POS is another famous way to provide digital banking services. POS is an electronic device that provides
automatic transfer of the amount purchased from the customer’s account (the card holder) to the seller (card
acceptor) through either the telephone banking or e-banking networks.
1.4.6 Mobile banking:
This type of digital banking can provide the possibility to the customers to see their bank statements, transfer
money and complete control over their account through of mobile phones. Mobile banking permits the
bank’s customers to conduct a number of financial transactions through a device such as a mobile phone or
tablet.
1.4.7 Internet banking
Out of all the available electronic delivery channels, Internet banking has emerged as most prominent
electronic channel. From the banker‟ prospective cost per transaction in Internet banking is only one-tenth of
a regular branch cost.
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1.5 Digital Banking Products
If an individual has access with a stable 4G mobile data or with Wi-fi connection on their smartphones,
Personal Computer (PC), Laptop, etc. Banks provides a lot of digital banking services and much more.
S.r. Digital Banking Services Utility

No.
1. Obtaining Bank Statements To view and download bank statements for any
specified period using Net Banking over the particular
bank website where the account is associated.
2. Funds Transfer With the use of alternatives like National Electronic
Funds Transfer (NEFT), Immediate Payment Service
(IMPS) and Unified Payment Interface (UPI), etc. are
easily available to transfer the funds from one account
to another account. With the use of such options the
need of issuing Cheques and Demand Drafts is
eliminated.
3. Mobile Banking Banking through an appropriate application of the
banks where the accounts of the customers of banks
are opened it can be opened on their smart devices and
the customers can easily access their accounts as per
their needs.
4. Cash Withdrawals Automated Teller Machines (ATM) facilitates cash
withdrawals at any time as they provide a service at
any point of time. Automated Teller Machines (ATM)
are easily available at any locality.
5. Payment of Bills Bills such as Electricity Bills, Gas Bills, Mobile Post-
paid Bills can be paid using digital banking services.
Auto debit features can be easily setup upon monthly
basis so that there are regular payments of bills without
any delay in payments.
6. Finance Investments in Mutual Funds, Share Market, Raising
of different types of Loans and Opening of Fixed
Deposit Accounts, etc. can all be done through digital
banking services. De-mat Accounts can also be linked
with the respective bank accounts to provide a
seamless flow of funds so that the investment can be
done promptly.
7. Management of Cheques Interference in the Cheque clearing process using
digital banking services can also be used to stop the
cheque if the need arises.
8. Monitor the Transaction Records Banks send the transaction alerts to the linked mobile
number via Short Message Service (SMS) or E-mail
address linked with the customer account. Transactions
are updated and executed as soon as possible.
Table 2: Digital Banking Products Services
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1.6 History of Digital Banking in India
1.6.1 When did Digital Banking Started in India?
In India, digital banking started taking shape in the late 1990’s with ICICI Bank being the first one to bring
the service to their retail clients. Digital banking became mainstream in the year 1999 as internet charges
were reduced by many of the companies and there was an increase in awareness and trust with respect to the
internet by the citizens. It was only after the internet which further developed and the costs came down,
banks started serving a broader basket of products online.
The earliest forms of digital banking trace back to the beginning of the ATM machines and different cards
were launched in the year 1960. As the internet emerged in the year 1980 with early broadband, digital
networks began to connect retailers with suppliers and with consumers to develop the needs for an early
online catalogues and inventory software systems.
By the 1990s, Internet became widely and globally available and online banking started to be becoming the
norm. The improvement of broadband and ecommerce systems in the early year 2000 led to resembled the
modern digital banking world today. The proliferation of smartphones through the next decade opened the
door for transactions on the go beyond ATM machines. Over 60% of consumers now use their smartphones
as the preferred method for digital banking.
This dynamic shape the basis of customer satisfaction, which can be nurtured with Customer Relationship
Management (CRM) software.
There is a demand for end-to-end consistency and for services, optimized on convenience and user
experience. In order for banks to meet consumer demands, they need to keep focusing on improving digital
technology that provides agility, scalability and efficiency.
1.6.2 Which is the Best Digital Bank?
Some of the best zero balance digital savings bank account in India:
• Axis Bank ASAP

• Digi savings – DBS
• Kotak 811
• Pockets and Insta Save FC Account – ICICI Bank
• Indus Online Savings Account – IndusInd
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All the above bank products offer differential services based on the accounts chosen. Some of the services
can be attained by logging onto their website whereas others require an application. Kotak, DBS, and Axis
bank offer a 6% interest rate on digital savings bank account.
1.6.3 How can One do a Digital Banking?
This can be done by visiting the branch in person, or by using the online account opening options on bank
websites where you just have to upload a few documents from the comfort of your home.
To create a digital bank account in India, the individual must consider the following points:
• Be over 18 years of age

• Have both PAN and Aadhaar Card
• Complete KYC, i.e., paper-based verification of details within twelve months of opening the
digital bank account.
1.6.4 Future of Digital Banking

As per a Deloitte research report one must-haves for a fully digital bank, each bank motivated to
become fully digital which requires the following as the key drivers for their success:
• Option to order currency
• Customizable standing options
• Accounts linked to tax exemptions status
• Card blocking feature
• Innovation toward safety vaults
• Integration with stock market investment channels
• Financial management analytics
• Easily accessible assistance
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1.7 Advantages of Digital Banking for Consumers
There are number of advantages of digital banking. Some significant benefits of digital banking are listed
below:
1. Convenience:
Digital banking is available to anyone and everyone who is a bank account holder in a particular
bank branch. It allows customers to easily access the bank website using their username and
password and carry on with the transactions even if the bank is closed during 2nd Saturday, 4th
Saturday of a month in India and along with Government holidays in India. For digital banking only
one device with internet connectivity is needed, so it is very convenient to use.
2. Time Saving:
This is the greatest advantage for all of us as we are not able to spend a lot of time in queues due to
business timings and lack of time especially for business persons. Time management is one of the
greatest challenges in everyone’s busy lives. Digital banking enables us to carry out the banking
services within minutes.
3. Banking Benefits:
Human errors of calculations are reduced. It has also made record keeping easier. In digital banking
recording of all transactions are being maintained electronically. It is possible to generate reports and
analyse data at any point and for any purpose.
4. Online Bills Payments:
Digital banking allows online payment of bills. It is a feature that saves a lot of time, effort and
expenses of many of the customers. Customers don’t need to have physical cash and queue up to pay
their utility bills or other kind of bills.
5. Environment Friendly:
Through Digital banking banks are now giving customers the option to receive their account
statements online. This saves a vast amount of paper and postage waste, postage expenses and not to
mention the delivery.
6. Offers Availability:
Through Digital banking everyone can stay aware about bank’s products like loans, investment
options etc. Everyone can avail a lot of offers on shopping and purchases and a range of other
services that can help us get more for less. For e.g.: Cashbacks, Shopping Discount Vouchers, etc.
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1.8 Challenges Or Disadvantages of Digital Banking
There are a number of benefits of digital banking, but it also has some challenges and disadvantages.
Some of disadvantages and challenges are listed as given below:
1. Security:
Many customers of the banks don’t use digital banking services due to the security purpose.
Customers gets worried about the aspects as they read the kind of news about cybercrime, frauds in
newspapers, televisions, etc. daily.
2. Difficult for First Time Users:
Navigating through a website of bank may be hard for first time users. Opening an account could also
take time as some sites ask for several numbers of personal details including photo identification,
which can be inconvenience for the potential customer using the digital banking service for the first
time.
3. Customer’s Preference for Traditional Branches:
Most customers prefer the personal touch and customized service offered by the staff members in the
bank branches. Many of the Indians are also opposed to calling call centres and bank’s customer
contact lines to address issues related to online bank account.
4. Low Broadband Internet Connections:
While the bigger cities like - Mumbai, Delhi, Bangalore have relatively had a better broadband
connection rate but users in smaller cities and towns still use dial up connection. Slow connectivity
speed demotivates users to use digital banking services.
5. Regulation and Legalities:
But it is extremely difficult for regulatory authorities to enforce finance laws. Additionally, every
nation has different regulations. So, it is difficult to enforce same laws and regulation in every
country.
6. Fear of Online Threats:
Conservative Indian bank customers used to deposit their hard-earned money of years in bank
accounts for the purpose of saving. They feel worried about online frauds and scams. Mostly banks
make sure that their websites are secure, but no bank website is immune from cybercrime and
hacking. This is biggest threat of digital banking service.
7. A Limited Scope of Services:
Although we can do many of the things with the use of digital banking such as to make deposits,
check the balance available in the account and pay the bills, etc. but there are many limitations to the
SUFYAN SHAIKH 20
kind of the services everyone can access. For opening a new account or applying for a loan or
mortgage in most of the cases, A customer will need to visit a branch to sign forms and show identity
documents.
8. Unnecessary Mails and Notifications:
Using digital banking services, everyone might become annoyed by constant unnecessary emails and
updates by the banks. Customers might get overly marketed too and become annoyed by those kinds
of notifications.
1.9 Conclusion:
Today digital banking has taken a new shape in the world of technology. The banking industry is re-
shaping itself and moving to a technological approach from traditional approach.
Due to the adoption of digitization, the banking sector in India is facing some remarkable changes as
well as hurdles. As we are living in the digital era, It is not possible to avoid the growth and services of
digital banking. Everyone uses modern mobile devices called smartphones, which can be easily used to
access many digital banking services.
Most of services provided by digital banking are available to anyone, at anywhere and at any time. As
people want to have convenient banking services so they feel very comfortable to use this system.
Banking sector has also become more competitive with the advent of digitization and the digital India
program for ensuring better customer service, thereby attaining the goal of cashless economy.
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CHAPTER 2 – REVIEW OF LITERATURE
Title Page
No.
2.1 Introduction 23
2.2 Books 24
2.3 Ph.D. Thesis and research papers 25
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2.1 Introduction
The main aim or objective of this literature review is to study and analyse literature pertaining to digital
banking with respect to banking service quality, consumer satisfaction, consumer behaviour. Understanding
the rising importance of smart devices a new tools to access the services some studies related to mobile
banking had also been reviewed. The search process relied mainly on the use of electronic libraries (e.g.,
Google Scholar, EBSCO, JSTOR, Elsevier, etc.) by means of keywords.
With the rapid and significant growth in electronic commerce, it is obvious that digital banking and
payments are likely to advance.
One part of this which is growing rapidly is digital banking. Indian banks are trying to make our life easier.
Not just bill payment, we can make investments, shop or buy tickets and plan a holiday at your fingertips.
• Bill Payment Service
To pay bills, all we need to do is complete a simple one-time registration for each biller. We can also set up
standing instructions online to pay your recurring bills, automatically. One-time standing instruction will
ensure that we don't miss out on our bill payments due to lack of time. Most interestingly, the bank does not
charge customers for online bill payment.
• Credit Card Customers
Credit card users have a lot in store. Not just this, they can also apply for an additional card, request a credit
line increase and we can forbid if we lose our credit card, we can report lost card online.
• Investing through Internet Banking
Digital banking can also be a great friend for lazy investors. So, one need not worry about filling those big
forms for mutual funds, they will now be just a few clicks away. Nowadays, most leading banks offer both
digital banking and demat account.
• Recharging your Prepaid or Post-paid Phones
Now there is no need to rush to the vendor to recharge prepaid or post-paid phones, every time when talk
time runs out. We just need to top-up our prepaid mobile cards by logging in to digital banking. By just
selecting operator's name, entering mobile number and the amount for recharge, our phone is again back in
action within few minutes.
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• Shopping at your fingertips
With a range of all kind of products, we can shop online and the payment is also made conveniently through
account. We can also buy railway and air tickets through digital banking.
❖ LITERATURE REVIEW
Digital banking is an innovation when new information technologies merge into traditional banking services.
Operating costs minimization and revenue maximization are the major drivers that boost digital banking
services (Sannes, 2001; Reibstein, 2002). Digital banking service is basically a self-service by customers, so
for banks, it requires less resources and lower transaction and production costs (Southard and Siau, 2004;
Witman and Poust, 2008). A study about the digital banking over 1999–2006 shows that the application of
digital banking can improve banks’ performance in terms of the growth in assets, reduction in operating
expenses and portfolio enhancement (Dandapani et al., 2008). Through interviewing banks in a small island
and examining their digital banking websites from 2004 to 2006, Jenkins (2007) indicates that those banks
were using digital banking. To continually improve the performance of digital banking services, several
core-capacities are critical:
• Planning new IT infrastructure.
• Enhancing transaction security.
• Providing value-added content.
• Delivering differentiated services.
• Managing customer relationships.
2.2 Books
The private Indian banks have overshadowed foreign banks in terms of brand recognition. Customers can
retrieve information or request services/transactions through Internet, Interactive Voice Response (I.V.R.),
call centre, cell phones and ATMs. An Expert system is designed for a specific field of problems and not as
a general tool (Kulkarni & Desai, 2004).
Therefore, to overcome this deficiency Reserve Bank of India introduced number of digital banking
initiatives to develop paperless payment and the new settlement systems like Electronic Clearing System
(Credit/Debit), Electronic Fund Transfer (EFT), National Electronic Fund Transfer (NEFT), Real Time
Gross Settlement System (RTGS) etc. Now customers use internet banking facility as information point and
as counter of a bank as well (Murli & Subbakrishna, 2012).
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In genuine model of Internet managing an account, any request or exchange is prepared online with no
physical reference to the branch (anyplace keeping money) whenever.
Remote banking has significant advantages for the service providers, achieves greater efficiency internally
and helps to provide its customers an improved level of service, and opens up intelligent marketing options.
The customer can control performance of portfolio, flow of savings and current accounts, view market
dynamics and changes, do scenario analysis, run queries and execute transactions on a real time basis,
anytime anywhere (Agarwal, 2012).
Digital banking uses infrastructure made for current digital age to create local and global opportunities.
Digital banking encompasses broad range of operations like electronic mail to improve communication,
provision of online information and service, efficient and cost-effective services and non-physical interaction
(Muraleedharan, 2009).
Other coin side of digital banking is it’s susceptible to risks related to governance, legal, operational and
reputational matters.
2.3 Ph.D. Thesis and research papers
Bauer, Hammer Schmidt, and Falk (2005) validated an estimation show for the worker of web-based
interface quality in view of the measurements like security and trust, essential administrations quality, cross-
purchasing administrations quality, added value, exchange support and responsiveness, on the premise of
exact studies in the field of e-keeping money.
They employed fluffy set qualitative similar investigation (fsQCA) to test how saw chance, similarity, saw
value, saw usability, age and pay impact portable managing an account application utilize, and non-utilize.
Investigation connected on exact data test of managing an account customers uncovered that versatile
keeping money application utilize is in connection with high similarity, low saw chance, high saw
convenience, and high saw handiness.
SUFYAN SHAIKH 25
CHAPTER 3 – RESEARCH METHODOLOGY
Title Page No.
3.1 Introduction 27
3.2 Statement of Problem 27
3.3 Objectives of Study 28
3.4 Scope of the Study 28
3.5 Hypothesis of Study 29
SUFYAN SHAIKH 26
3.1 Introduction
This chapter explains about research methodology of research work on topic “Digital Banking” which is a
systematic way of conducting any research work.
This chapter discloses about how the present study is getting conducted. It explains about the research
methods, techniques and logics, etc. behind the research work. Each research work needs their own design to
solve all the problems or finding out the truth.
This study investigates about the consumer behaviour towards the digital banking in Patan District. Banking
always plays a crucial role in financial market in any society and obviously in banking system as a service
section which needs to provide the qualified service for users of the financial market. Digital Banking plays
very important role in today’s business and human life. Digital Banking creates banking service and
opportunities for bankers to provide high quality services which increase speed and efficiency of its
branches, all around the world. In information intensive era, customers can access to bank services without
physical presence through safe channels of communication.
Digital Banking customers can carry out their own banking operations such as funds transfers, withdrawal of
cash, deposits of cash, etc. without having the physical presence at the branches through the communication
channels of safely at any time of the day (24 hours).
3.2 Statement of Problem

Patan District in one of the major and it is a historical place located on the bank of the extinct Sarasvati
River which probably has remained an ancient Sarasvati River. Patan has an old market which is quite
sizeable and it is believed that continuous operation has been done since the rule of Vaghela’s.
Patan District is selected as for the population of study with digital banking consumers are selected as the
respondents of the study. In the adoption of digital banking, Indian banks seems to be aware of the
opportunities that the Internet provides.
After the review of the studies and finding out the research gap the main questions of the study has been
raised, which are as follows:
1. Why consumers behave in this particular way?
2. What is the motivation for this particular behaviour?
3. What is the outcome of this particular behaviour?
SUFYAN SHAIKH 27
The change in consumer behaviour, in turn, has affected the volume and the nature of digital banking
transactions.
3.3 Objectives of Study

The objectives of study are as follows:
1. To understand the concept of digital banking and its importance.
2. To understand the role of digital banking as compared to traditional banking, in terms of cost,
efficiency, time, secrecy, quality of services from consumer perspective in Patan city.
3. To identify the digital banking benefits and problems from consumer point of view.
4. To identify various digital banking products offered by Indian banks towards consumers in Patan
city.
5. To examine the impact of digital banking products on the behaviour of consumers.
3.4 Scope of Study

Patan is one of districts of Gujarat in India, Patan District population in 2022 is 1,416,643 (estimates as per
Aadhar uidai.gov.in Dec 2020 data). As per 2011 census of India, Patan District has a population of
1,343,734 in 2011 out of which 694,397 are male and 649,337 are female. Literate people are 837,913 out of
494,631 are male and 343,282 are female. People living in Patan District depend on multiple skills, total
workers are 554,830 out of which men are 383,074 and women are 171,756. Total 126,099 Cultivators are
depended on agriculture farming out of 113,449 are cultivated by men and 12,650 are women. 158,550
people works in agricultural land as labour, men are 111,370 and 47,180 are women. Patan District sex ratio
is 935 females per 1000 of males. Next Patan District Census will be in 2022-2023.
➢ Patan District Population of Rural and Urban
The district has a total area of 5,792 sq. km., 138 sq. km is urban and 5654 sq. km is rural. Out of total
population of Patan, 1,491,545 in the district, 281,081 are in urban area and 1,062,653 are in rural area.
58,551 households are in urban, 209,082 are in rural area. 207,296 literate people are in urban, 630,617 are
in rural area.
➢ Patan District Talukas Population
According to 2011 Census of India, Patan District Talukas population, Below is the list of Patan District
Talukas household’s, total population and as per male and female statistics.
SUFYAN SHAIKH 28
Talukas Population 2011 Male Female Households
Santalpur 128,791 66,720 62,071 25,101
Radhanpur 104,708 53,675 51,033 19,386
Sidhpur 156,685 80,393 76,292 30,050
Patan 323,983 167,676 156,307 63,747
Harij 74,309 38,545 35,764 14,548
Sami 182,805 94,050 88,755 36,281
Chanasma 114,811 59,407 55,404 24,782
3.5 Hypothesis of Study
o Data quality, speed, ease use of technology, saving in cost, convenience in banking, security in
transactions have a positive impact on the consumer behaviour towards digital banking.
• H0:
Data quality, speed, ease of use of technology, saving in cost, convenience in banking, security in
transactions have no impact on the consumer behaviour towards digital banking.
• H1:
Data quality, speed, ease of use of technology, saving in cost, convenience in banking, security in
transactions have a positive impact on the consumer behaviour towards digital banking.
➢ Data Collection:
Current study is based on secondary data. Several reports from authentic sources have been studied to know
the current scenario of digital banking. Other secondary data have been collected from various published
sources which represents the performance of digital banking. Present research is based on the statistics
available on annual reports of digital banking published by Government of India, Reserve Bank of India
(RBI). Facts and figures given in these reports have been considered for analysis purpose.
SUFYAN SHAIKH 29
CHAPTER 4 – ANALYSIS AND DISCUSSION
Title Page
No.
4.1 Explanation of Research Problem 31
4.2 Review of Previous Studies 31
4.3 Constructing a Questionnaire 31
SUFYAN SHAIKH 30
4.1 Explanation of Research Problem
In this research two types of research problems are presented; first type of problems is related to the states of
nature and second is related to relationship between variables. The main area of research problems in this
research is related to customer behaviour of banking system in Patan city which is categorized under the
main three questions:
1. Why some of the consumers behave in some other way?
This question is related to the nature of the customer behaviour regarding digital banking services in Patan
city. This question is made to understand current situation of customer behaviour about the digital facilities
of banking in Patan city.
2. What is the main concern or problem of this behaviour?
This question is related to the relation between variables which effect motivation for current customers of
digital banking facilities in Patan city.
3. What is the outcome of this behaviour?
This question is related to nature of the customer who behave about current behaviour of the customer about
present digital banking facilities in Patan city.
4.2 Review of Previous Studies
After problem formulation, in this study, most relevant literatures were reviewed to find out previous studies
in electronic banking and customer behaviour regarding electronic banking to reach finding research gap.
After that the main gaps of knowledge about the topic identified and presented in this chapter to help in
reaching to questioners and objectives of current research.
4.3 Constructing a Questionnaire
In this research there are two main aspects which gets identified based on the research gap which was found
out after the reviewing of the studies which was made previously and with the consultation of academicians
and professionals. These constants and variables finalised after the pilot study to ensure the validity and the
reliability of the instrument.
SUFYAN SHAIKH 31
The construction of questionnaire was made on the basis of:
1. Personal Information.
2. Information regarding the uses, advantages and disadvantages, concerns, etc.
Personal information was recorded based on the following independent variables:
• Name, Gender, Email, Gender, Age, Contact Number, Date of Birth, Nationality, Education Level,
Occupation, etc.
Information regarding the uses, advantages and disadvantages, concerns, etc. was also recorded based on the
following independent variables:
• Bank account.
• Opening and Bank account linked.
• Types of Bank account.
• Usage of Digital Banking.
• Benefits of Digital Banking.
• Visits at Bank Branch.
• Uses of ATM during month.
• Reasons that customers face to visit branch frequently.
• Purchases done through digital services.
• Digital services that a bank offers.
• Main reason as a customer worry for digital banking.
• Frequency of bank visits.
• Demerits of visiting bank.
SUFYAN SHAIKH 32
TABLE 4: Age of the Respondents
AGE Frequency Valid Percent Cumulative Percent
Below 20 years 7 12.5 12.5
21-30 years 39 69.6 82.1
31-40 years 3 5.4 87.5
41-50 years 5 8.9 96.4
Above 50 years 2 3.6 100
Total 56 100
Source: Primary Data as per questionnaire
Age of Respondents (in %)

4%
9% 12%
5%
70%
Below 20 years 21-30 years 31-40 years 41-50 years Above 50 years
From the above table it can be found that, the sample unit is represented by 12.5% of below 20 years age
group followed by 69.6% in 21-30 age group, 5.4% of 31-40 years of age group and 8.9% of 41-50 and 3.6%
of above 50 years of age group.
It shows that the sample unit is dominated by 21-30 years of age group.
SUFYAN SHAIKH 33
TABLE 5: Gender of the Respondents
Gender Frequency Valid Percent Cumulative Percent
Male 39 69.6 69.6
Female 17 30.4 100
Total 56 100
Gender of Respondents (in %)
30%
70%
Male Female
From the above table it can be found that, the sample unit is represented by 69.6% of male customers
followed by 30.4% female consumer are using digital banking. Male customers are dominating.
The conclusion made is male customers are dominating in gender category.
SUFYAN SHAIKH 34
TABLE 6: Educational Qualification
Qualification Frequency Valid Percent Cumulative Percent
High School 8 14.3 14.3
Bachelor 20 35.7 50.0
Masters 24 42.8 92.8
PhD 2 3.6 96.4
Other 2 3.6 100.0
Total 56 100
Qualification (in %)
OTHER 3.6
PHD 3.6
MASTERS 42.8
BACHELOR 35.7
HIGH SCHOOL 14.3
0 5 10 15 20 25 30 35 40 45
Qualification (in %)
It can be found that from the above table that the sample unit is represented by 14.3% of school levels,
35.7% of undergraduates, 42.8% of post graduates, 3.6% of PhDs followed by 3.6% of Others.
It concluded that the sample unit is represented by school levels followed by under graduate, post graduate
and professionals.
SUFYAN SHAIKH 35
TABLE 7: Employment
Gender Frequency Valid Percent Cumulative Percent
Yes 20 64.3 64.3
No 36 35.7 100
Total 56 100
Currently Employed (in %)
36%
64%
Yes No
It can be found that from the above table that the sample unit is represented by 36% of unemployment level
followed by 64% of employed.
It is concluded that the sample unit is represented by unemployment level followed by 64% of employed.
SUFYAN SHAIKH 36
TABLE 8: Experience at Employment Level
1 or less 18 50 50
1 – 2 years 3 8.3 58.3
3 – 9 years 11 30.6 88.9
20 or more years 4 11.1 100
Total 36 100
Experience at Employment Level (in %)
20 OR MORE YEARS 11.1
3 – 9 YEARS 30.6
1 – 2 YEARS 8.3
1 OR LESS 50
0 10 20 30 40 50 60
Experience (in %)
It can be found that from the above table that the sample unit is represented by 50% of 1 or less year of
experience, 8.3% of 1 - 2 years of experience, 30.6% of 3 – 9 years of experience, followed by 11.1% of 20
or more years of experience.
It can be concluded that the sample unit is represented by 1 or less year of experience followed by 1 - 2 years
of experience, 3 – 9 years of experience and 20 or more years of experience.
SUFYAN SHAIKH 37
TABLE 9: Respondents Linked with Bank Account
Yes 51 91.1 91.1
No 5 8.9 100
Total 56 100
Bank Account (in %)

9%
91%
Yes No
It can be found that from the above table that the sample unit is represented by 8.9% of respondents not
having bank account followed by 91.1% of respondents having bank account.
It is concluded that the sample unit is represented by followed by 91.1% of respondents having bank account
followed by 8.9% respondents not having bank account.
SUFYAN SHAIKH 38
TABLE 10: Types of Bank Account
Current A/c 5 8.9 8.9
Saving A/c 51 91.1 100
Total 56 100
Types of Bank Account (in %)

9%
91%
Current A/c Saving A/c
It can be found that from the above table that the sample unit is represented by 8.9% of respondents having
current account in the bank followed by 91.1% of respondents having saving account in the bank.
It is concluded that the sample unit is represented by followed by 91.1% of respondents having saving
account in the bank followed by 8.9% respondents having current account in the bank.
SUFYAN SHAIKH 39
TABLE 11: Bank Branch Visit
Visit Frequency Valid Percent Cumulative Percent
Less than 1 time 38 67.9 67.9
1 – 3 times 13 22 91.1
3 – 8 times 3 5.4 96.5
8 – 12 times 0 0 96.5
Over 12 times 2 4 100
Total 56 100
Bank Branch Visit (in %)

4%
5%
22%
69%
Less than 1 time 1 – 3 times 3 – 8 times Over 12 times
It can be found that from the above table that the sample unit is represented by 67.9% of less than 1 time
visit to bank branch, 22% of less than 1 – 3 times visit to a bank branch, 5.4% of 3 – 8 times visit to a bank
branch, followed by 4% of more than 12 times visit to a bank branch.
It can be concluded that the sample unit is represented by 1 or less than 1 time visit to bank branch followed
by 1 – 3 times visit to a bank branch, 3 – 8 times visit to a bank branch and more than 12 times visit to a
bank branch.
Reasons for visiting bank branch:
1. To make a deposit – 42.9% of respondents.

2. To get advice for investment options – 5.4% of respondents.
3. To inquire about the balance available – 8.9% of respondents.
4. To withdraw cash – 7.1% of respondents.
5. Other work – 35.7% of respondents.
SUFYAN SHAIKH 40
TABLE 12: Usage of ATM Per Month
Visit Frequency Valid Percent Cumulative Percent
Less than 1 time 27 48.2 48.2
1 – 3 times 20 35.7 83.9
3 – 8 times 8 14.3 98.2
8 – 12 times 0 0 98.2
Over 12 times 1 1.8 100
Total 56 100
Usage of ATM Per Month (in %)

2%
14%
48%
36%
Less than 1 time 1 – 3 times 3 – 8 times Over 12 times
It can be found that from the above table that the sample unit is represented by 48.2% of less than 1 time use
of ATM, 22% of less than 1 – 3 times use of ATM, 5.4% of 3 – 8 times use of ATM, followed by 4% of
more than 12 times use of ATM.
It can be concluded that the sample unit is represented by 1 or less than 1 time visit to bank branch followed
by 1 – 3 times visit to a bank branch, 3 – 8 times visit to a bank branch and more than 12 times visit to a
bank branch.
SUFYAN SHAIKH 41
TABLE 13: Purchases Made using Digital Banking
Yes 37 66.1 8.9
No 19 33.9 100
Total 56 100
Purchases Made using Digital Banking (in %)
34%
66%
Yes No
It can be found that from the above table that the sample unit is represented by 66% of respondents have
purchased products using digital banking followed by 34% of respondents not have purchased products
using digital banking.
It is concluded that the sample unit is represented by followed by 66.6% of respondents have purchased
products using digital banking followed by 34% respondents not have purchased products using digital
banking.
Reasons for not purchasing using digital services:
1. Security concerns – 62.5% of respondents.

2. Slow speed – 25% of respondents.
3. Poor functionality – 12.5% of respondents.
4. Difficult to use – 8.9% of respondents.
5. Not available – 26.8% of respondents.
SUFYAN SHAIKH 42
CHAPTER 5 – FINDINGS AND RECOMMENDATIONS
RECENT TRENDS OF DIGITAL BANKING IN INDIA
Title Page
No.
5.1 Overview 44
5.2 Banking on Technology: Trends 44
5.3 Trends of Digital Banking 46
5.4 Difference Between UPI and NEFT 49
5.5 Difference Between RTGS and IMPS 50
SUFYAN SHAIKH 43
5.1 Overview
When the pandemic occurred during the year 2020, it accelerated the adoption of the new technology across
various sectors like banking, industries, etc. The dependence on these advanced technologies made a great
impact in the rise of using the services digitally in a great extent. The recent annual report of 2020-2021 of
Reserve Bank of India (RBI) shows the total digital transactions volume in the year 2020-2021 stood at INR
Rs. 4,371 crores against Rs. 3412 crores in the year 2019-2020 showing the flexibility of the digital
payment system in the face of the Covid pandemic.
5.2 Banking on Technology: Trends

In the context of the advancements of new technologies and its adoption by the citizens of India it has given
a major rise in the use of the Banking products digitally. As far from the use of these new technologies it has
continued to disrupt the use of the traditional ways of the banking system in India. Online deposits, Mobile
wallets, E-bill payments, etc. have now become a various norm for how which the financial transactions are
carried out nowadays. With the increasing in the number of consumer demands for the use of digital banking
services, Artificial Intelligence is also the core of digital banking transformation.
Forecasting is a risky process as everyone who did it last year knows. However, 2021 was likely to be
regarded as the year in which we all picked ourselves up after the COVID-19 pandemic.
In the year 2019, banks were obliged to make a year's worth of technology and business model changes in
only a few months. In order to develop effective fintech solutions, banks are actively interacting with the
start-up community.
Following are the some of the technology trends that have been defined as per the banking system of India
during these years. Some of them are as follows:
1. Open Banking
2. Blockchain
3. Biometrics
4. Chatbots
5. ‘Zero Trust’ Security Models
6. Wearables
Let us know the detailed explanation of all the terms below,
1. Open Banking:
It is an important strategy to compete and grow for the financial institutions. Many of the banks have
adopted these strategies to insert their financial solutions into third party software and then to create a single
interface for the customers to access their accounts with the services provided by the banks. By partnering
SUFYAN SHAIKH 44
with Fintech, many of the banks had made their services available to their customers across many of the
applications for easy payments. Online payments wile ordering food from Zomato, Swiggy, etc. and Digital
Payments in Uber, OLA, etc. are possible only due to the Open Banking services.
2. Blockchain:
Many of the banks are increasingly using the blockchain technology that makes it difficult for the hackers to
obtain the confidential information of the customers bank account details and personal data of the customers.
Blockchain technology helps in improving the efficiency, enhancing the security and making quicker
transactions at a cheap cost.
3. Biometrics:
As the rely on the cash is decreasing nowadays and companies such as WhatsApp, Google, Amazon have
come up with their payment systems. Biometrics payments are shaping the way as customers are using the
payment services through the smartphones. Many of the payments are made with in a second of scanning the
fingerprints.
4. Chatbots:
As voice-based interface are becoming more popular with the customers and as these services are not
available but it will be available soon, Banks will start offering these services with increasingly larger
number on a voice interface. As per the survey on many of the websites such as www.smatbot.com which
offers chatbots demo it will save over four minutes per transactions time. It will also allow the banks to
receive the customers feedbacks easily and economically.
5. ‘Zero Trust’ Security Models:
Conventional IT models are getting outdated and thus making banks prone to many of the cyber frauds. A
new approach to combat this threat is ‘Zero Trust” Security model. It is a security framework that secures
the enterprise by removing implicit trust and enforcing strict user and device authentication throughout the
network.
6. Wearables:
As more technologies are coming into play and existing technologies adapt to create more interactive
customers experiences. Wearable devices such as smartwatches are expected to transform in the digital
payment experience for the customers soon in coming future. Gaining popularity among the millennials and
genz for the wearable payment devices will soon be going to revolutionise the payments space.
SUFYAN SHAIKH 45
5.3 TRENDS OF DIGITAL BANKING
5.3.1 THE RISE OF Unified Payments Interface (UPI)
UPI was first launched in 2016. It was piloted by the National Payments Corporation of India (NPCI) and
launched by 21 member banks from Raghuram G. Rajan, then the RBI Governor. Banks started to upload
their UPI enabled applications on Google Play Store on Android and App store on IOS from 25th August,
2016 onwards.
UPI ID’s all begins with mobile numbers followed by ‘@’ symbol and the application the consumer is using.
Example:
In BHIM application UPI ID is shown as xxxxxxxxxx@upi, in Paytm the UPI ID is shown as
xxxxxxxxxx@paytm, in PhonePe the UPI ID is shown as xxxxxxxxxx@ybl and in GPay the UPI ID is
shown as xxxxxxxxxx@okicici, xxxxxxxxxx@okaxis, xxxxxxxxxx@okhdfcbank and xxxxxxxxxx@oksbi.
5.3.2 How UPI is Unique?
UPI is unique in different ways. They are as follows:
1. Immediate fund transfer through mobile device round the clock 24 x 7 availability and for 365 days
without any delay.
2. Single mobile application for accessing different bank accounts.
3. Single Click 2 Factor Authentication – Aligned with regulatory guidelines, provides very strong
feature of seamless single click payment.
4. QR Code.
5. Merchant Payments with Single Applications or In – App Payments.
6. Bill Payments, Over counter payments, QR Code (Scan and Pay) based payments.
7. Donations and Collections made easy within built payment applications.
8. Raising complaints for any issues can be made easily from Mobile Apps directly without
approaching the bank branch.
5.3.3 UPI Participants
Some of the UPI Participants in digital banking process are as follows:
1. Payer PSP.
2. Payee PSP.
3. Remitter Bank.
4. Beneficiary Bank.
5. NPCI.
6. Bank Account Holder.
7. Merchants.
SUFYAN SHAIKH 46
Let us know the detailed explanation of all the terms below,
1. Payer PSP:
The Payer's Payment Service Provider (PSP) debits the payer's account & sends it to UPI which, in turn,
routes it to the payee's PSP.
2. Payee PSP:
The Payee’s Payment Service Provider (PSP) credits the payee’s account & receives the money from the
UPI, after getting it debited from the payer’s end.
3. Remitter Bank:
Remitter Bank means a bank holding a bank account of the Payer where the Debit of the UPI instructions
is received from the Payer to be executed on real time basis.
4. Beneficiary Bank:
Beneficiary Bank means a bank holding a bank account of the Payee where the Credit of the UPI
instructions is sent to the Payee. Beneficiary Bank means the payee bank where the Beneficiary maintains
the bank account.
5. National Payments Corporation of India (NPCI):
The National Payments Corporation of India is the specialised division of Reserve Bank of India which is
under the jurisdiction of Ministry of Finance, Government of India. It was created by RBI for operating retail
payments and settlement systems in India.
6. Bank Account Holder:
The term Bank Account Holder refers to the main user of the account associated with the bank. In simple
words it refers to the person whose name is on a bank account.
7. Merchants:
Merchant is defined as a person or company engaged in the business of selling or trading goods. A
wholesaler is an example of a merchant. A retail store owner is an example of a merchant.
SUFYAN SHAIKH 47
5.3.4 UPI – Benefits to the Ecosystem Participants
Many of the participants have better benefits. The participants are as follows:
6. Banks.
7. Customers.
8. Merchants.
1. Benefits to Banks:
➢ Single click Two Factor Authentication.
➢ Universal Application for transaction.
➢ Safer, Secured and Innovative.
➢ Banking made easy.
2. Benefits to Customers:
➢ Round the clock availability.
➢ Single application for accessing multiple bank accounts.
➢ Avoiding queues in the bank branch.
➢ Raise complaint from mobile app directly.
➢ Balance enquiry made easy.
➢ Saves efforts and time.
➢ Smooth and easy to use.
3. Benefits to Merchants:
➢ Resolves Cash On Delivery (COD) problems.
➢ In – App payments.
➢ No cheques
➢ Safe and secured.
➢ An option to collect payment.
SUFYAN SHAIKH 48
5.4 Difference Between UPI And NEFT:
Sr. Parameters UPI NEFT

No.
1. Full-Form Unified Payment Interface National Electronic Fund
Transfer
2. Transaction Zero charges for transactions up to It attracts transaction charges &
Charges 20 transactions per month GST at different transfer
amount.
3. Beneficiary Transactions can be done through The transaction needs to be
Details any UPI Applications. initiated with the senders bank
application.
4. Initiations of Requires UPI ID of the receiver. Requires Account Number,
Payments and Account Holder Name, IFSC
Collections Code, Account type, etc.
5. Transfer Type Both Payment and Collection of Only Payment transactions are
transaction is possible using UPI. possible.
6. Bank Account UPI payment is possible even if For NEFT transactions one
you don’t have a bank account. It should have a bank account
is possible through e-wallets such which is compulsory to receive
as Paytm, etc. the transaction.
7. About the It works as like an immediate The transfer of money takes
Platform payment service and it is available around 12 hours to receive the
and accessible 24 hours a day. fund in the payee’s account.
8. Minimum Rs. 1 Rs. 1
Transfer
9. Maximum Rs. 1 Lakh No Limit
Transfer
10. Regulated By National Payments Corporation of Reserve Bank of India
India
Table 14: Difference Between UPI and NEFT
SUFYAN SHAIKH 49
5.5 Difference Between RTGS And IMPS:
Sr. Parameters RTGS IMPS
No.
1. Full-Form Real Time Gross Settlement. Immediate Mobile Payment
Service.
2. Transaction Zero charges for transactions It attracts transaction charges &
Charges up to 20 transactions per GST at different transfer amount.
month
3. Beneficiary Details Transactions can be done The transaction needs to be
through any UPI initiated with the senders bank
Applications. application.
4. Initiations of Requires UPI ID of the Requires Account Number,
Payments and receiver. Account Holder Name, IFSC
Collections Code, Account type, etc.
5. Transfer Type Both Payment and Collection Only Payment transactions are
of transaction is possible possible.
using UPI.
6. Bank Account UPI payment is possible even For NEFT transactions one should
if you don’t have a bank have a bank account which is
account. It is possible through compulsory to receive the
e-wallets such as Paytm, etc. transaction.
7. About the Platform It works as like an immediate The transfer of money takes
payment service and it is around 12 hours to receive the
available and accessible 24 fund in the payee’s account.
hours a day.
8. Minimum Transfer Rs. 2 Lakh Rs. 5
9. Maximum Transfer No Limit Rs. 2 Lakh
10. Regulated By Reserve Bank of India National Payments Corporation of
India
Table 15: Difference Between RTGS And IMPS
SUFYAN SHAIKH 50
CUSTOMER SATISFACTION
Title Page No.
6.1 Introduction 52
6.2 Objectives of Study 52
6.3 Digital Transactions at Present 53
6.4 Consumer Behavior in Digital Banking 54
6.5 Data Quality in Digital Banking 55
6.6 Banking Structure in India 56
6.7 Role of Digital Banking in Patan District 57
SUFYAN SHAIKH 51
6.1 Introduction:
The invention of ATMs and credit cards paved the way for the digitization of the banks. The Digital banking
is becoming increasingly popular, it is necessary to survey factors affect their customer views, in a
systematic way. Several studies reveal that a bank’s profitability is closely associated with customer loyalty
and retention which is based on customer relationship. Banking over the Internet is an example of digital
banking which has attracted towards increasing attention from bankers and other financial services industry
participants, the business press, regulators, and law makers. Among the reasons for adoption of digital
banking are the notion that digital banking and payments will cut banks costs, increase banks revenue
growth, and make banking more convenient for customers and improve bank customer relationship.
6.2 OBJECTIVES OF THE STUDY

1. Study about the demographic profiles of customers who uses digital banking services.
2. Customer Satisfaction level who uses digital banking.
SUFYAN SHAIKH 52
6.3 DIGITAL TRANSACTIONS AT PRESENT:
Sr. Item Value (Rs. In Crores)
No. 2018-2019 2019-2020 2020-2021
1. Large Value Credit Transfers – RTGS 13,56,88,187 13,11,56,475 10,55,99,849
Retail Segment
2. Credit Transfers: 2,52,54,836 2,64,14,871 3,21,76,068
IMPS 15,90,257 23,37,541 29,41,500
NEFT 2,27,96,608 2,29,45,580 2,51,30,910
UPI 8,76,971 21,31,730 41,03,658
3. Debit Transfers and Direct Debits: 815 1,303 2,580
BHIM Aadhar Pay 815 1,303 2,580
4. Card Payments: 11,96,888 14,34,815 12,93,081
Debit Cards 5,93,475 7,03,920 6,62,667
Credit Cards 6,03,413 7,30,895 6,30,414
Total-Retail Payments (2+3+4) 2,64,52,539 2,78,50,989 3,34,71,729
Total-Payments (1+2+3+4) 16,21,40,726 15,90,07,464 13,90,71,578
Total Digital Payments (1+2+3+4) 16,21,40,726 15,90,07,464 13,90,71,578
Source: RBI Data 2020-2021
Note:
1. RTGS system includes customer and inter-bank transactions only.
2. The figures for cards are for payment transactions at point of sale (POS) terminals and online.
3. Figures in the columns might not add up to the total due to rounding off of numbers.
DIGITAL PAYMENTS TRANSACTIONS IN CRORES

(2018-2021)
2018-2019 2019-2020 2020-2021
13,56,88,187
13,11,56,475
10,55,99,849
3,21,76,068
2,64,14,871
2,52,54,836
14,34,815
12,93,081
11,96,888
1,303
2,580
815
LARGE VALUE CREDIT CREDIT TRANSFERS DEBIT TRANSFERS AND CARD PAYMENTS
TRANSFERS – RTGS RETAIL DIRECT DEBITS
SEGMENT
Chart of Digital Payment Transactions (2018-2021) as per RBI Data
SUFYAN SHAIKH 53
6.4 Consumer Behaviour in Digital Banking System
According to the advancement of the international economy towards organizational development, digital
banking is growing very fast and Information Technology (IT) sector is the most important factor in this
development. Banking sector in India has understood the importance of this force from the perspective of
competitive advantage. Banking sector and India has concentrated in advanced technology in innovations of
services and products of digital banking includes ATMs, mobile banking, electronic funds transfer, debit
cards, credit cards. According to the innovation in banking industry evaluation of the customer behaviour is
the main factor and this study is focused on consumer behaviour towards digital banking services.
Investigation of consumer behaviour after using digital banking services will explore the issues of why some
banking consumers accept innovations made over banking sector and why some are not ready to accept it
yet?
Consumers over the world have respectively easy access to their accounts, 24 hours per day and seven days a
week. In India this is not yet common place, even in the urban areas. The customers who felt that branch
banking took too much time and effort are now able to make transactions at the click of their fingers.
The growing application of computerized network to banking has reduced the cost of transaction and has
increased the speed of services accordingly. The speed and quality of service is improved as customers do
not have to travel physically to branch. Despite the adoption of digital banking, banks in India seem to be
aware of the opportunities provided by internet. In fact, they are moving modern internet services to
consumers at a higher level. The consumer behaviour has been affected due to digital banking services which
are provided by the banks.
Questions arises regarding consumer behaviour are:
• Why consumers behave in this particular way?
• What is the motivating factor for this particular behaviour?
• What is the outcome of this particular behaviour?
Consumer behaviour examines people (what they demand and how), marketing (the design of services and
products), and customer are not aware of how to use the services yet.
SUFYAN SHAIKH 54
6.5 Data Quality in Digital Banking
Recent regulations and corporate governance requirements have made an improvement in the corporate data
quality. However, most of the companies are assuming data quality for granted, while effectively managing
the business and preparing financial statements. Data quality issues are costly. Data quality refers to the
question of whether data is fit for intended use.
• Accuracy
It is the degree to which data meet current and potential requirements of the users. It also refers to
whether all needed data are produced, the extent 23 to which concepts used (definitions,
classifications, etc.) reflect user needs, and the extent to which users are satisfied with the
disseminated data.
• Accessibility
It insists on physical conditions in which users can obtain data: where to go, how to order, delivery
time, clear pricing policy, convenient marketing conditions (copyright, etc), availability of micro or
macro data, formats, etc.
• Clarity
It refers to information environment of the data: whether data are endorsed with appropriate
metadata, illustrations like graphs and maps, whether information on their quality is also available
(including limitations in use) and the extent to which additional assistance is provided.
• Comparability
It focuses on measurement of the impact of differences in applied data concepts, definitions, and
measurement tools/procedures when statistics are compared between geographical areas, non-
geographical domains, or over time.
• Coherence
Coherence of data in statistics is related to adequacy to be reliably combined in different ways and
for various uses.
• Relevance
It is the degree to which data meet current and potential requirements of the users. It also refers to
whether all needed data are produced, the extent 23 to which concepts used (definitions,
classifications etc) reflect user needs, and the extent to which users are satisfied with the
disseminated data.
SUFYAN SHAIKH 55
6.6 Banking Structure in India
Reserve Bank of India regulates all the banks and non-financial organizations and controls their
activities through credits and monetary policies. One of the most important segments of banking sector
is scheduled commercial banks which are included in the second schedule to the Banking Regulations
Act. This is done according to the criteria like minimum net worth and the minimum balance to be
held with Reserve Bank of India. Both commercial and cooperative banks are included under
determined scheduled bank and they are entitled to some facilities with the Reserve Bank of India.
Apart from scheduled commercial bank there are Indian and foreign banks as well. Some local area
banks were also licensed to operate in the specified areas during 1999-2000. The basic banking
structure in India can be summarised as per the figure below:
State Bank of
India and
Subsidiaries
Public Sector Nationalised
Banks Banks
Regional Rural
Banks
Banking Structure in Old Private

Sector Banks
India Private Sector
Banks
New Private
Sector Banks
Branches
Foreign Banks
Offices
Figure 3.7: Banking Structure in India
6.7 Role of Digital Banking in Patan City

Digital Banking has been in the process of changing the business form from traditional to modern. Patan
City is a historical place located on the bank of the now extinct Sarasvati River which is probably what
remains of the ancient Sarasvati River. Patan has an old market which is quite sizeable and is believed to
have been in continuous operation since at least the rule of Vaghela’s.
SUFYAN SHAIKH 56
Patan is a Taluka in Gujarat state, Patan Taluka population in 2022 is 4,14,698. According to 2011 census of
India, Total Patan population is 3,23,983 people are living in this Taluka, of which 1,67,676 are male and
1,56,307 are male. Population of Patan in 2021 is 4,01,739 Literate people are 2,01,051 out of 1,19,024 are
male and 82,027 are female. Total workers are 1,43,819 depends on multi skills out of which 93,809 are men
and 50,010 are women. Total 39,519 Cultivators are depended on agriculture farming out of which 36,283
are cultivated by men and 3,236 are women. 41,771 people works in agricultural land as a labour in Patan,
men are 29,015 and 12,756 are women.
SUFYAN SHAIKH 57
RESEARCH DESIGN
Title Page
No.
7.1 Introduction 59
7.2 Research Design 59
7.3 Features of Research Design 60
7.4 Phases in Research Designing 60
7.5 Assignment to Group 61
7.6 Need for Research Design 61
7.7 Types of Research Design 61
SUFYAN SHAIKH 58
7.1 Introduction
Research design can be considered as the structure of research as it is the “Glue” which holds all the
elements in a research project together. Research design is defined by different social scientists in different
terms;
Some of the definitions are as:
According to Jahoda, Deutch & Cook “A research design is the arrangement of conditions for the
collection and analysis of data in a manner that aims to combine relevance to the research purpose with
economy and procedure”.
1. The blueprint for the collection.

2. Measurement
3. Analysis of data.
7.2 Research Design

Research design is a logical way of measurement for data analysis. Research design consists of writing
hypotheses and its operational implications to last step of data analysis. The instrument of the research was
questionnaire which is first tested by pilot study to ensure instrument has critical qualities such as reliability
and validity. In this research, based on Cochran’s formula and Morgan’s table to estimate optimal size of
sample which represent population of the study.
The minimum number of the formula and tables to obtain 95% confidence for hypothesis test is around 50 or
more measurements or surveys are needed to have a confidence level of 95% that the real value is within
±4.99% of the measured or surveyed value, But, in this research for best model the estimate researcher
should consider more than 50 respondents.
The calculation is done online via sample size calculator over the internet.
Cochran’s formula
𝒛𝟐 𝒑𝒒
𝒏= 𝒅𝟐
𝟏 𝒛𝟐 𝒑𝒒
𝟏 + 𝑵 { 𝟐 − 𝟏}
𝒅
SUFYAN SHAIKH 59
7.3 Features of Research Design
In a brief research, Research Design must at least contain:
1. A clear statement of research problem.

2. The population to be studied.
3. Methods to be used in processing & analysis data.
7.4 Phases in Research Designing

The research process proceeds in six phases:
1. Specifying the problem or topic to be studied.

2. Framing research design.
3. Collecting the data.
4. Analysing the data (editing, coding, processing, tailgating).
5. Preparing the report.
Framing
Specifying the problem or the Planning Collecting Analysing Preparing
topic to be studied. Research a Sample the Data the Data Report
design
Figure 5.5: Process of Research Design
SUFYAN SHAIKH 60
7.5 Assignment to Group
Assignment to group is designed by a latter at the beginning of each time (e.g., Group) that describe how the
group was assigned. The major types of assignment are:
R = Random Assignment
N = Non-equivalent groups
C = Assignment by cut-off
7.6 Need for Research Design

Research design is necessary because it makes a possible smooth sailing of various research procedures and
thereby creation of research as professional is possible, yielding maximum information with a minimum
expenditure of efforts, time and money. For better, economical and attractive construction of a house, there
is a need of a blueprint (or what is a community called the map of the house) which is prepared by an expert
architect. Similarly, there is also a need of a research design or a plan in advance of data collection and
analysis for four research projects. The research design helps the investigator to organise his ideas in a shape
whereby it will be possible for him to look for errors and shortages.
Good research design strikes a balance between redundancy and the tendency to over design. Where it is
responsible, other, less costly, strategies for ruling out potential threats validity cure utilized.
7.7 Types of Research Design
Types of Research Design
Descriptive or Explanatory Experimental

Exploratory
Statistical Research Or Analytical
Or
Formulator Research Research
Research
Figure 5.10: Types of Research Design
SUFYAN SHAIKH 61
1. Exploratory or Formulative Research.
2. Descriptive Research or Statistical Research.
3. Explanatory Research.
4. Experimental Or Analytical Research.
SUFYAN SHAIKH 62
CONCLUSION
It also presented an understanding about concept of digital banking and its importance, in relation with the
role of electronic banking as compared with traditional banking system with emphasis on cost, efficiency,
time secrecy and quality of data.
The study identified benefits and problems of digital banking from customer’s point of view, and also the
quality of digital banking and as the last part of findings, it presents impact of digital banking products on
consumer’s behaviour.
The study gives an understanding about behaviour of consumers towards electronic banking system in Patan
city. This research can create awareness about digital banking implementation with emphasis on consumer’s
behaviour issues.
The findings of this research can be useful for digital banking service providers, bank managers and policy
makers in banking sectors in Patan city.
The present study showed that consumers of digital banking services still have some concern about technical
issues in implementation of digital banking such as security concern, easy to access to services,
infrastructure at the digital banking implementation in Patan city needs improvement. Banks should be
practice in creating more awareness about digital banking products in the public.
SUFYAN SHAIKH 63
BIBLIOGRPHY
Websites
1. https://tavaga.com/blog/digital-banking-and-its-foray-into-the-banking-
sector/#:~:text=In%20India%2C%20digital%20banking%20started,with%20respect%20to%20the%2
0.
2. https://www.hdfcbank.com/personal/resources/learning-centre/digital-banking/what-is-digital-
banking
3. https://economictimes.indiatimes.com/industry/banking/finance/banking/survey-finds-over-two-thirds-of-
customers-willing-to-switch-to-digital-only-bank/articleshow/86482860.cms
4. https://www.financialexpress.com/industry/half-of-global-population-will-use-digital-banking-by-2026-says-
report/2293325/
5. https://digitalindia.gov.in/content/online-banking-users-reach-150-billion-2020
6. https://www.techsciresearch.com/report/india-digital-banking-market/3212.html
7. https://www.prnewswire.com/in/news-releases/consumer-usage-of-digital-banking-and-contactless-payments-
surges-in-india-during-pandemic-finds-new-fis-survey-818320422.html
8. https://www.statista.com/statistics/1249581/india-status-of-online-banking-
adoptio/#:~:text=According%20to%20a%20survey%20conducted,payments%20in%20their%20everyday%20
life.
9. https://www.republicworld.com/india-news/economy/digital-payments-in-india-see-78-percent-rise-in-2020-
as-nation-heads-towards-cashless-economy.html
10. https://www.finder.com/in/digital-banking-statistics
11. https://www.rbi.org.in/SCRIPTs/PublicationReportDetails.aspx?UrlPage=&ID=243
12. https://m.rbi.org.in/Scripts/AnnualReportPublications.aspx?Id=1322
13. https://www.statista.com/statistics/1251321/india-total-volume-of-digital-payments/
14. https://economictimes.indiatimes.com/news/economy/finance/digital-payments-up-30-2-in-fy21-rbi-
data/articleshow/84828643.cms?from=mdr
15. https://smallbusiness.chron.com/online-banking-disadvantages-2248.html
16. https://www.inspirajournals.com/uploads/Issues/1093639504.pdf
17. https://www.forbesindia.com/blog/technology/banking-on-technology-tech-trends-that-have-carved-a-niche-
this-year/
18. https://www.rbi.org.in/Scripts/AnnualReportPublications.aspx?Id=1322
19. https://www.hindustantimes.com/brand-post/how-new-trends-has-helped-digital-banking-
101628866226862.html
20. https://www.indiagrowing.com/Gujarat/Patan/Patan
21. https://research-methodology.net/research-methodology/research-process/
SUFYAN SHAIKH 64
22. https://www.voxco.com/blog/researchdesign/#:~:text=Research%20design%20refers%20to%20the,in%20the
%20future%20as%20well.
23. https://leverageedu.com/blog/research-design/
24. https://www.marketing91.com/steps-in-research-design/
Books
1. Banking by William A. Scott – March 1st, 2013.

2. Ahuja Ram, (2010), Research Method, New Delhi: Rawat Publication.
3. Borwankar P.V., (1995), Research Methodology, New Delhi: Seth Publisher.
4. Claire Selltiz and others, (1962), Research Methods in Social Sciences, New York: Holt, Rinehart
and Winston: Published for the Society for the Psychological Study of Social Issues.
5. Crotty, M., (1998), The foundations of social Research: Meaning and Perspective in the Research
Process, London: Sage Publication.
6. Dawson Catherine, (2002), Practical Research Methods, New Delhi: UBS Publisher’s Distributors
7. Gupta Mukul and Gupta Deepa, (2011), Research Methodology, New Delhi: PHI Learning Private
Limited.
8. Khanzode V.V., (1995), Research Methodology: Technique & Trends, New Delhi: APH Publishing
Corporation.
9. Kothari C.R., (2010), Research Methodology: Methods and Technique, New Delhi: New Age
International Publishers.
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Singapore: Pearson Education.
11. Manheim Hanry, (1977), Sociological Research: Philosophy and Methods, Illinois: The Dorsey
Press.
12. McNabb David E., (2010), Case Research in Public Management, New York: Routledge
Publication.
13. Michael Crotty, (1998), The Foundations of Social Research: Meaning and Perspective in the
Research Process, New Delhi: SAGE Publications.
14. Sam Daniel P. and Sam Aroma G., (2011), Research Methodology, Delhi: Kalpaz Publication.
15. Sharma Vimlesh, (2003), Residual Sighted Children, New Delhi: Discovery Publishing House.
16. Shrivastva T.N. and Rogo Shailaja,(1958), Business Research Methodology, New Delhi: Tata
McGraw Hill Private Limited.
17. Singh Tejinde Jeet and Sahu Shantanu Kumar, (2015), Research Methodology, Agra: SBPD
Publication.
SUFYAN SHAIKH 65
18. Vaus David de., (2001), Research Design in Social Research, New Delhi: Sage Publication.
19. Zikmund William, (1988), Business Research Methods, Chicago: The Dryden Press.
Footnotes
1. Zikmund William, (1988), Business Research Methods, Chicago: The Dryden Press, p. 41.
2. Kothari C.R., (2010), Research Methodology: Methods and Technique, New Delhi: New Age
International Publishers, p. 31.
3. Selltiz ,op.cit., p. 71.
4. Kothari, (2010), p. 32.
5. Ibid.
6. Ahuja Ram, (2010), Research Method, New Delhi: Rawat Publication, p. 125.
7. Trochim William, Donnelly James P. and Arora Kanika, (2015), Research Methods: The essential
Knowledge Base, United Kingdom: CENGAGE Learning, p. 219,220.
8. Kothari, p. 32.
9. Ustafa A., (2010), Research Methodology, Delhi: A.I.T.B.S Publishers, p. 86,87.
10. Sellitz op.cit., p. 50.
11. Mustafa, op.cit., p. 91.
12. Borwankar P.V., (1995), Research Methodology, New Delhi: Seth Publisher, p. 45.
13. Michael Crotty, (1998), The Foundations of Social Research: Meaning and Perspective in the
Research Process, New Delhi: SAGE Publications, p. 5.
14. Sellitz op.cit., p.72, Also see, Singh Tejinde Jeet and Sahu Shantanu Kumar, (2015), Research
Methodology, Agra: SBPD Publication, p. 9.
15. Khanzode V.V., (1995), Research Methodology: Technique & Trends, New Delhi: APH Publishing
Corporation, p. 35.
16. Borwankar, op.cit., p.46 26. Crotty, M., (1998), The foundations of social Research: Meaning and
Perspective in the Research Process, London: Sage Publication, p. 115.
17. Crotty, M., (1998), The foundations of social Research: Meaning and Perspective in the Research
Process, London: Sage Publication, p. 115.
18. McNabb David E., (2010), Case Research in Public Management, New York: Routledge Publication,
p.29.
19. Singh and Sahu, op.cit., p.40.
20. Sellitz op.cit., p.73.
21. Kothari, op.cit. p.39.
22. Ibid, p. 40.
SUFYAN SHAIKH 66
23. Ibid, p. 41.
24. Ibid, p. 42.
25. Sharma Vimlesh, (2003), Residual Sighted Children, New Delhi: Discovery Publishing House, p. 48.
SUFYAN SHAIKH 67

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Thesis Submitted To

Mr. Sufyan S. Shaikh

University Enrollment No.: 202000913010110

Dr. Nimisha Shah

Asst. Professor in Statistics

Name and Signature of Guide Date of Submission

Stamp of Institute with Date

College Seat No./Enrollment No.: 202000913010110

Date: Name and Signature of Guide

Sr. Particulars Page

1. NEFT National Electronic Funds Transfer

Table 3.4.5: Difference Between Qualitative & Quantitative Research Design

Table 4: Age of the Respondents

Table 5: Gender of the Respondents

Table 6: Educational Qualification

Table 8: Experience at Employment Level

Table 9: Respondents Linked with Bank Account

Table 10: Types of Bank Account

Table 11: Bank Branch Visit

Table 12: Usage of ATM Per Month

Table 13: Purchases Made using Digital Banking

Table 14: Difference Between UPI And NEFT

Table 15: Difference Between RTGS And IMPS

Figure 3.8: Research Process

Figure 4.4.3: Different Research Design

Figure 5.5: Process of Research Design

Figure 5.10: Types of Research Design

1.3 What is Digital Banking? 12

1.4 Digital Delivery Channels 13

1.5 Digital Banking Products 16

1.6 History of Digital Banking 17

1.7 Advantages of Digital Banking for Consumers 19

1.8 Challenges or disadvantages of Digital Banking 20

1.3 What is Digital Banking?

1. Money Deposits, Withdrawals and Transfers.

1.4 Digital Delivery Channels

Source: RBI Data

1.4.4 Electronic fund Transfer (EFT):

1.4.5 Point of Sale (POS) banking:

1.4.6 Mobile banking:

1.4.7 Internet banking

S.r. Digital Banking Services Utility

1.6.1 When did Digital Banking Started in India?

1.6.2 Which is the Best Digital Bank?

• Axis Bank ASAP

1.6.3 How can One do a Digital Banking?

• Be over 18 years of age

1.6.4 Future of Digital Banking

• Bill Payment Service

• Credit Card Customers

• Investing through Internet Banking

• Recharging your Prepaid or Post-paid Phones

• Planning new IT infrastructure.

• Enhancing transaction security.

• Providing value-added content.

• Delivering differentiated services.

• Managing customer relationships.

2.3 Ph.D. Thesis and research papers

Title Page No.

3.2 Statement of Problem 27

3.3 Objectives of Study 28

3.4 Scope of the Study 28

3.5 Hypothesis of Study 29

3.2 Statement of Problem