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Banking Sector Financial Analysis

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string(124) ‘ several numbers of players like Punjab National Traditional bank, HDFC Bank, UTI Lender, ICICI Financial institution, Kotak Mahindra Bank, Citibank HSBC. ‘

A Project Report On “AN EVALUATION ON DIGITAL PAYMENT SYSTEM AS WELL AS ITS PROBLEMS” Published for partial fulfillment of award of Master of Business Administration (MBA) Submitted by: ANKITA SRIVASTAVA Fourth Semester (MBA 2009-11) Dayanand Academy of Management Studies, Kanpur Beneath the able Guidance of: MR. SHWET SAXENA HOD (MBA) Dayanand Schools of Management Studies, Kanpur (GAUTAM BUDDH TECHNICAL COLLEGE OR UNIVERSITY, LUCKNOW) INDEX: TABLE OF CONTENTS TopicsPage No . Announcement 4 Qualification from the Start 5 Preamble 6 Sector Introduction 7-25 * Intro of Banking7-9 * Crucial Findings 15 * Essential Issues And Facts Examined 11 Important Players Reviewed 12 * Technology In Banking 13 * The Tipping Level 14 2. Pressing Issues 15-16 2. Redefining Targets 17-22 5. Evolving That 22-25 Intro of E-Commerce Payment System 26-41 * Ecommerce Payment System dua puluh enam * Bank cards And Smart Cards 27-29 * Digital Bill Presentment And Payment 29-31 5. Electronic Repayment Schemes 32-33 * Payment Protocol Models 33-36 5. Electronic Commerce Payments 36-41 Related Function 41-42 Top Players in Banking & Finance 43-52 Objective of Study/Need of Study 53-55 Contribution For the Academics 53 * Contribution To The Sector 54 5. Contribution For the Society fifty five Research Methodology 56-59 Limitations 59 Data Presentation 60-71 Findings and Suggestions 72 Conclusion 73 Bibliography seventy four Annexure (Questionnaire) 75-78 DECLARATION I Ankita Srivastava students of Dayanand Academy of Management Research, Kanpur learning in MASTER OF BUSINESS ADMINISTATION hereby file that the work done by myself in task titled “AN ANALYSIS ABOUT ELECTRONIC PAYMENT SYSTEM AND ITS PROBLEMS” is original and carried out to the best of my knowledge and perception.

Zero copy of computer has been submitted to any additional University pertaining to award of any other degree/diploma/fellowship or upon similar name. Ankita Srivastava CERTIFICATE FROM YOUR INSTITUTE PREFACE Final research project is an effort to provide students a practical insight and contact with the real world scenario in which he/she has to work in future. My own research project statement on “A Study about Electronic Transaction processing system and Its Problems” was an attempt in this regard. The research project record has carefully revised & made up to date.

The contents have been heightened up date & altered to improve obviously & arouse enthusiastic desire for the subject of financing. Figures, data, diagram, types, tables and so forth Liberally utilized to easily be familiar with complex thing. The remove of the work is provided in this survey under several heading which includes Industry profile, research aim, research style, data collection method, Testing design, examination and model, results, bottom line and suggestions. Lastly Mr. Shwet Saxena who has allotted me this kind of project work of skilful labor.

ANKITA SRIVASTAVA SECTOR INTRODUCTION Once we talk about the future, it is necessary to possess a time horizon in mind. The Committee believed, it would be somewhat difficult to imagine the scenery of banking industry state, 20 years hence due to the active environment. Although Government of India presented India Perspective 2020, the Committee is of the view which the pace of changes happening in the bank industry and the field of Information Technology would provide any try to visualize the banking scenario in 2020, inconceivable. The entire financial services sector may undertake a dramatic transformation.

It absolutely was, therefore , sensed that we should set each of our goals pertaining to the near future declare, for five to ten years therefore and correctly call this exercise “Banking Industry – Vision 2010”. Indian Financial system has played an essential role inside the socio-economic progress the country. The machine is supposed to continue to be sensitive to the development and growth needs of all the segments of the society. The banking system that will develop will be transparent in its negotiations and choose global guidelines in accounting and disclosures driven by motto valuable enhancement for any stakeholders.

It can be expected the Indian financial and financing system will be globally competitive. For this the market players will have to be financially solid and operationally efficient. Capital would be a main factor in creating a successful establishment. The bank and financing system will improve competitiveness through a process of consolidation, either through mergers and acquisitions through tactical alliances. Technology would be the step to the competitiveness of banking and financial system.

Of india players can keep pace with global market leaders in the usage of banking technology. In such a circumstance, on-line availability will be available for the customers by any section of the globe, ‘Anywhere’ and ‘Anytime’ banking will probably be realized really and totally. At the same time ‘brick and mortar’ banking will co-exist with ‘on-line’ bank to serve the specific needs of different consumers. Corporate governance in banks and banking institutions would suppose greater importance in the coming years which will be shown in the composition of the Planks of Financial institutions.

This “Indian Banking Sector Analysis (2010-2011)”, report delivers extensive exploration and goal analysis within the growing banking industry, their product quality, and their services in India. This report helps customers to analyze the leading-edge opportunities critical to the success from the banking Industry in India. Detailed data and research helps a buyer, financial service providers, and global banking players navigate the evolving market of financial institutions in India. KEY STUDIES * The nationalized financial institutions have more twigs than some other types of banks in India. Assets of scheduled commercial banking companies (SCBs) as well saw an increase in crore. 2. India’s retail-banking assets are required to increase at the high rate 12 months over the up coming four years. * Selling loan to push the growth of retail bank in future. 5. Housing loan account for key chunk of retail financial loan. KEY CONCERNS AND SPECIFICS ANALYZED * What does the competitive market surroundings look like intended for the Of india Banking Market? * How the services travel the Bank Sector in India? 2. How demographic factors, personal loans and credit top quality programs travel the market? Exactly what the various options and problems of this sector? * How the banks differ according for their regional collection ups? 2. How performed the banking institutions deploy their credits throughout sector? * Strategies that are being adopted by global players for selling banking. IMPORTANT PLAYERS ANALYZED This examine provides an guide, key facts and many numbers of players like Punjab National Lender, HDFC Traditional bank, UTI Lender, ICICI Traditional bank, Kotak Mahindra Bank, Citibank HSBC.

You read ‘Banking Industry Economical Analysis Ppt’ in category ‘Essay examples’ The economic sector in India is becoming stronger with regards to capital plus the number of customers.

It has become throughout the world competitive and diverse aiming, at bigger productivity and efficiency. Contact with worldwide competition and deregulation in Of india financial sector has led to the emergence of better quality product or service. Reforms include changed the face of Indian banking and finance. The banking sector has better manifolds in terms of capital adequacy, asset classification, profitability, cash flow recognition, provisioning, exposure limitations, investment changing reserve, risikomanagement, etc . TECHNOLOGY IN FINANCIAL The new face of Bank:

An industry that is tightly guarded by regulations has finally opened up. But this has launched many new issues. Here’s a look at how technology can help get over these issues and talk about the new group of issues linked to modern day financial. by Anil Patrick 3rd there�s r The Banking sector in India has experienced a rapid transformation. Nearly a decade back again this sector was limited to the sarkari (read nationalized) and cooperative banks. Then simply came the multi-national banking institutions, but these had been confined to offering an elite few.

One could respect the past since the , medieval ages’ in the bank industry, in which every branch of the same bank acted while an independent information silo, and multi-channel financial (ATMs, Net-Banking, tele-banking, etc) was almost nonexistent. “Banks are increasingly facing moving margins and fierce competition. It is very important to increase volumes of prints and reduce functional costs” , K. L. Padmakumar, Leader, Federal Financial institution THE TIPPING POINT The opening up in the Indian bank sector to private players acted as , the tipping point’ for this alteration.

The deregulatory efforts caused many finance institutions (like HDFC and ICICI) and nonfinancial institutions enter the banking market. With the entry of private players into retail banking and with multi-nationals focusing on the consumer consumer within a big method, the financial system experienced a phenomenal change. Multi-channel financial gained dominance. For the first time buyers got the choice of conducting transactions either the standard way (through the bank branch), through ATMs, the telephone or through the Net. Technology played a key position in providing this multi-service platform.

The entry of private players along with new RBI guidelines required nationalized banking institutions to give new meaning to their key banking technique. And technology was central to this change. PRESSING PROBLEMS Today financial institutions have to look much over and above just providing a multi-channel service platform due to the customers. You will find other important issues that banks need to addresses in order to chalk-out a roadmap for the future. Allow me to share the top three concerns inside the mind of each and every bank’s CEO. Customer preservation: Customer retention is one of the main priorities to get banks today.

With the entrance of new players and multiple channels, buyers have become even more discerning and less , loyal’ to banking institutions. Given the various options, it is currently possible to open a new consideration within minutes. Or for that matter change accounts within a couple of hours. This makes it essential that banking companies provide finest levels of in order to ensure client satisfaction. Cost stresses: Cost demands come into play when banks are not able to afford the cost of a particular service or perhaps initiative whilst they want to or need to have it in position.

This is generally because the expense structure with the backend is usually not useful enough to offer that sort of service to industry. As Gunit Chadha, MD & CEO, IDBI Bank puts it, “In today’s world of narrowing margins, a serious check out costs is really an imperative. inch Increased competition: The access of new players into the bank space is resulting in increased competition. A recent case in point would be of Kotak Mahindra Finance Limited (KMFL)—a financial services company focused about investment consulting, auto fund, insurance, etc—morphing into Kotak Bank. A number of other such players are ready on the side lines.

Technology makes it easier for any company with the right channel infrastructure and money stores to get into banking. This has been one of the main reasons behind these kinds of competition via players who also do not have a banking history. Kotak Lender overcame your initial costs of setting up its ATM network by stepping into a writing agreement with UTI traditional bank. New traders with strategies such as these associated with banking game tougher. DEFINING OBJECTIVES To handle cost pressures and increased competition along with retain existing customers, banks have started out venturing in newer territories.

This is one of the main reasons why financial institutions are focused on price tag banking within a big method. The main advantage of engaging in retail financial is that the risks involved happen to be lesser through this segment. There are lower Non Performing Possessions (NPAs) in retail banking. This is one of the reasons why loans such as individuals for casing, automotive, and many others are getting touted by banks like never prior to. Credit cards and debit cards will be another focus area to get banks. With this banks have redefined their organization priorities. They are now focused on: 5. Cost lowering * Item differentiation Customer-centric services Even though the ways in which financial institutions implement these types of vary, the underlying goals remain the same. COST REDUCTIONS Reduced costs basically translate to higher profit margins. If financial institutions can reduce costs, it can go a long way in elevating profits. Primary is on increasing the profit margins by simply cutting costs wherever it matters—on the functions side. Banking companies have awoken to the fact that they need to get into form fast to be able to handle competition. “Banks have already been increasingly facing sliding margins and intense competition.

It truly is imperative to allow them to increase the quantities and reduce the cost of operations, inch says K. P. Padmakumar, Chairman, National Bank. DIFFERENCE The customer is interested in how he/she can benefit from the bank as well as products. For this reason it becomes essential for a lender to identify its products from your others. A number of the ways in which difference can be launched are through specialization, new releases, and increasing the added value. Specialization essentially means that the lender gets involved only in selected areas.

For example , the bank might be getting involved only in housing financing. Or, it might be limiting it is services simply for corporate banking clients. Make sure specialize could be by handling just certain sets of portfolios. Banks can differentiate themselves with the addition of new products with their range of companies. This will give the bank with better brings per speak to. Increasing the added value of products is another way of differentiation for banks. Detailed excellence is also a key element in effective difference from the competition.

CUSTOMER-CENTRIC UNIT Indian banks have realized it no longer pays off to have a , transaction-based’ functioning model. This has led to the introduction of a marriage oriented type of operations focusing on customer-centric companies. While banking institutions have to make sure product brilliance and detailed excellence, the largest challenge today is to set up customer closeness without that this other two are useless. “In the financial globe, product brilliance does not long lasting as it is relatively simple to copy products.

So , the true strength originates from operational quality and understanding the customer and developing rapport with him, ” says Gunit Chadha. In this framework, it is very important that banks recognize and appreciate customer needs. This will help banking companies in dressmaker their products in accordance to consumer needs. It also helps in new company opportunities just like cross-selling and , up selling, ‘ which requires cues via customer aspirations and purchase patterns. Client relationships have to be managed inside the best possible way. This will make sure that the customer comes back to the financial institution.

In addition to good client retention rates, it will also give better salary generation capability. This is because an important chunk of income of all banks comes from existing buyers, rather than by new customers. “The cost of deals over channels like ATMs and the Internet are below doing it through the branches” , Rangesh Nayar, Country Manager-Financial Services Sector, IBM It really is pivotal IT is central to banking. This is one of the major main reasons why new exclusive and multi-national banks have already been able to make it through, thrive, and adapt in an increasingly competitive space.

These kinds of banks could actually leverage about low-cost channels such as ATMs and Net banking to the optimum levels contributing to reduced operating costs. Banks have realized that changing customer access to lower cost programs can help bring down operating costs. “These programs are used not just in improve customer satisfaction but also to reflect traffic through the branches. It’s true that the expense of transactions over these channels is leaner than accomplishing this through the limbs, ” says Rangesh Nayar, Country Manager-Financial Services Sector, IBM.

Nevertheless this does not signify branch financial is out of date. Rather, banking institutions are remake their organization models to provide new financial services through its branches. EVOLVING IT Banking institutions are looking at more recent ways to make a client’s banking experience more convenient, useful, and powerful. They are using new technology equipment and processes to identify consumer needs and are also offering tailor-made products to match them. Central operations and process software using primary banking applications and IP-based networks boost efficiency and productivity levels tremendously.

Core banking applications help a bank to shift coming from , department banking’ to , bank banking. , This quite simply means that a customer will be treated as a bank’s customer than simply the customer of any particular branch which was the situation earlier. As well, IP-based networks lets a bank present multiple companies over the same network, resulting in costs cost savings. CRM solutions, if applied and integrated correctly, can help significantly in improving client satisfaction levels. Info warehousing will help in offering better deal experiences can be over different transaction stations.

This is permitted because data warehousing helps bring each of the transactions received from different stations under a prevalent roof. Info mining helps banks analyze and measure customer purchase patterns and behavior. This can help a lot in improving support levels and finding new business opportunities. Risk Assessment is yet another area in which technology may play a major role. “Using technology, banks are able to better assess risks like curiosity risks, fluid risks, FX risks, etc . The additional driver pertaining to using IT is that banks can reduce costs and educe the time to market, inch says Rangesh Nair, Region Manager-Financial Services Sector, IBM. With the emergence of various channels for (retail) banking, pundits all over had been predicting the conclusion of traditional branch banking, at least in the metros and other upwardly urban areas. Yet despite the rewards offered by other technologies in terms of lower costs or better reach, it looks like part banking is very much here to stay. The key reason why: Branch bank itself is definitely undergoing a transformation. Traditionally, financial institutions used their particular retail outlets to provide services to the individual customer.

Now with ATMs, Net financial, and Tele-banking replacing traditional service stations, banks will be more focused on enhancing customer value through limbs. They are employing their existing network of branches to suggestions on and promote new economical instruments just like consumer financial loans, mutual cash, etc . Fortunately they are using limbs to inform and educate customers about various other, more efficient channels to perform common ventures like funds withdrawal or perhaps balance checks. The interesting trend is the fact customers are using all the readily available channels rather than settling first. ‘The biggest challenge is usually to establish buyer intimacy’ The key points to become kept in mind although investing in IT are: 5. A well identified Return in Technology expense * A visible addition to customer value 5. Improvement of operational efficiencies leading to consumer convenience and cost savings ECOMMERCE PAYMENT SYSTEM An e-commerce payment processing system facilitates the acceptance of digital payment to get online orders. Also known as an example of Electric Data Interchange (EDI), e-commerce payment systems have become ever more popular due to the wide-spread use of the internet-based shopping and bank.

In the early years of B2C deals, many customers were anxious of using their credit and debit cards over the internet because of the perceived increased likelihood of fraud. The latest research demonstrates 90% of men and women in the India still do not really shop online because they do not trust online repayment systems. Nevertheless , 54% do believe that it truly is safe to shop online which can be an increase from 26% this year. There are numerous distinct payments systems available for online merchants. These include the traditional credit, debit and charge card nevertheless also new technologies such as digital wallets, e-cash, portable payment and e-checks.

One more form of payment processing system is allowing for a 3rd party to complete the online transaction for yourself. These companies are called Payment Companies (PSP). CREDIT CARDS AND SMART CARDS Over time, credit cards have turn into one of the most common forms of payment for web commerce transactions. In North America nearly 90% of online B2C transactions were created with this payment type. Turban goes on to explain which it would be tough for a web retailer to work without promoting credit and debit cards due to their widespread work with.

Increased reliability measures like the use of the card verification number (CVN) which detects fraud by evaluating the confirmation number for the printed on the signature strip on the back side of the card together with the information on document with the cardholder’s issuing bank. Also on-line merchants have to comply with strict rules agreed by the credit rating and charge card issuers (Visa and Master card this means that stores must have secureness protocol and procedures in place to ensure transactions are more protect.

This can include having a certificate from an authorized certification specialist (CA) who provides PKI infrastructure intended for securing credit and debit card deals. Despite this widespread use in The united states, there are still a lot of countries just like China, Pakistan and india that have some problems to overcome in regards to credit card security. In the meantime, the use of smartcards has become extremely popular. A Smartcard is just like a credit card, nonetheless it contains a great embedded 8-bit microprocessor and uses electric cash which will transfers in the consumers’ credit card to the sellers’ device.

A popular smartcard project is the VISA FOR AUSTRALIA Smartcard. Making use of the VISA Smartcard you can copy electronic funds to your card from your bank account, and you can then use the card for various suppliers and on the net. There are firms that permit financial deals to transpire over the internet, including PayPal. Many of the mediaries allow consumers to establish an account quickly, and to transfer funds to their on-line accounts from a regular bank account (typically via VERY SINGLE transactions), and vice versa, after verification from the consumer’s identity and power to access these kinds of bank accounts.

Also, the larger mediaries further enable transactions from credit card accounts, although these kinds of credit card orders are usually evaluated a fee (either to the beneficiary or the sender) to recoup the deal fees billed to the mediary. The speed and simplicity which cyber-mediary accounts can be set up and applied have contributed to their widespread use, even though the risk of abuse, theft and also other problems—with negative users often accusing the mediaries themselves of wrongful behavior—is linked to them. ELECTRIC BILL PRESENTMENT AND PAYMENT

Electronic invoice presentment and payment (EBPP) is a pretty new technique that allows consumers to view and pay bills digitally. There are a significant number of charges that buyers pay on a regular basis, which include: bills, water, petrol, internet, phone services provider, mortgages, car payments etc . EBPP systems send expenses from providers to specific consumers via the internet. The systems also permit payments to get made by buyers, given that the amount appearing on the e-bill is proper. The original EBPP method is a direct withdrawal from a bank-account through a bank such as Scotia bank.

Different service providers including Rogers Marketing communications and Aliant additionally , recognize major charge cards within the costs payment sections of their websites. Telpay Designed offers “Telpay for Business”, a software application that allows businesses to importance electronically provided bills, pay out them and store the presented graphic for taxation purposes. The biggest difference among EBPP devices and the classic method of invoice payment is that of technology. Rather than receiving a invoice through the email, writing out and sending a check, consumers receive their very own bills in an email, or are prompted to check out a website to look at and pay their very own bills.

3 broad types of EBPP have got emerged. These are: Consolidation, exactly where numerous bills for any one recipient are made available at 1 Web site, mostly the recipient’s bank. In certain countries, such as Australia, Fresh Zealand and Canada, the postal assistance also functions a debt consolidation service. The actual task of consolidation may also be performed by a third party and fed to the Web sites in which consumers receive the bills. The key attraction of consolidation is that consumers may receive and pay numerous charges at the a single location, as a result minimizing the number of login IDs and security passwords they must bear in mind and maintain.

Biller Direct, where bills created by an organization are made available through that organization’s Web site. The[desktop] works well in the event the recipient provides reasons to visit the biller’s Website other than to receive their charges. In the shipping industry, for example , customers will visit a carrier’s Web site in order to items in transit, therefore it is reasonably useful to receive and pay freight bills at the same web page. Direct email delivery, where the bills are emailed for the customer’s inbox. This model most closely copies the analog postal services.

It is easy, because almost everyone has email and the consumer has to bum except work with email in order to receive a costs. Email delivery is showing especially well-known in the B2B market around the globe. Major providers of outsourced bill production services have developed facilities to process bills through loan consolidation, biller immediate and email delivery services, thus enabling major billers to have almost all their bills, paper and digital, processed throughout the one assistance. Niche companies in many countries present one or two of those models, typically do not integrate with daily news bill creation.

ELECTRONIC REPAYMENT SCHEMES Doctor Phillip Meters. Hallam-Baker World Wide Web Consortium. This kind of paper reveals a framework for discourse on electronic repayment schemes. An extensive index of such schemes and a short overview of their very own relationship for the framework is usually provided. The framework involves two axes, the levels of abstraction where the process is analyzed and the payment model regarded as. POLICY The semantics with the payment plan. This includes repayments policies, as well as the liabilities incurred by consumers, merchants and financial institutions. DATA FLOW The requirements for storage space of data by and communications between the parties.

This includes not only the data goes for obligations themselves but also for refunds, account enquiries and settlement. SYSTEM The methods by which the necessary security requirements for messages and stored data are obtained. All three indifference levels are tightly together since plan makes requirements of data circulation and data flow makes requirements of mechanism. PAYMENT PROTOCOL DESIGNS CASH Funds consists of a expression which may be authenticated independently from the issuer. This can be commonly achieved through usage of self authenticating tokens or tamper proof hardware. CHECK

Cheques are payment musical instruments whose validity requires mention of the the issuer. CARD Cards payment schemes provide a repayment mechanism throughout the existing visa or mastercard payment infrastructure. Such plans have many structural similarities to cheque designs except that solutions are limited by that structure. An important feature of card repayment systems is the fact every transaction carries insurance. LIST OF NET PAYMENTS PLANS AND PLANS The following list was compiled with the aid of indices maintained by the World Wide Web Range, Cornell, SIRENE, IBM, AT&T Bell Labs, and the Homepage of the www-buyinfo mailing list.

Extra payments strategies may be announced via a fill in form. These kinds of announcements can be viewed in immoderate form. ANONYMOUS INTERNET MERCANTILE PROTOCOL, ANONYMOUS BANK CARDS AT&T BELLS LABS A card model protocol which will implements a plan which bills strong ensures of privacy with the needs of law enforcement. A formal approach is employed with comprehensive information on mechanism and data flow. BANKNET ELECTRONIC DIGITAL BANKING SERVICE MARKETNET Full electronic bank service gives ability to write cheques. Uses PKCS envelope formats. BARCLAYNET HYPERLINK “http://www. barclaycard. co. uk/barclay. tm”BARCLAYCARD An electronic mall runs simply by one of the planet’s largest credit card companies. Preventing disclosure of the credit card number towards the merchant is thus unnecessary and an easy secure plug communication mechanism to prevent eavesdropping is sufficient. COFFEEHOUSE Cash centered scheme with strong assures of invisiblity. Backed by a 13 affiliate European holding. E-CASH DIGICASH Anonymous digital cash. Couple of details receive about the actual scheme employed but voluminous archives of papers by company’s owner, David Chaum are provided. Indicate Twain Financial institution has used this plan. ELECTRONIC COMMERCE PAYMENTS

ELECTRONIC CHEQUE FINANCE TECHNOLOGY HOLDING A check scheme made to provide an up grade path through the existing check system. GREEN COMMERCE INITIAL VIRTUAL Initially Virtual’s Green Commerce payments model is among the first payments schemes to become established within the internet. The major novel feature of this scheme is the `satisfaction guaranteed’ policy which usually protects consumers from fraudulent merchants simply by allowing them an unconditional right to refuse payment for seperate items. A statistical mechanism is used to identify over frequent use of this method and exclude habitual non-payers.

Identification of shoppers is by means of an email ca loop structure. INTERNET KEYED PAYMENT PROTOCOLS(IKP) IBM (ZURICH & WATSON LABS) A card centered model of repayment which largely addresses the questions of data flow and mechanism. General public key cryptography is used in order that the privacy of your customer’s card number and PIN number and provide non-reputability. IKP has three options, 1KP, 2KP and 3KP when the acquirer exclusively, acquirer and merchant and acquirer merchant and client respectively have got a public key. CHECKFREE Company provides various repayments schemes on a number of versions. FBOI: 1ST BANK OF INTERNET

Novel repayments system utilizes ATM playing cards and PGP. Provides solid guarantees which in turn prevent loss of money by bank. Safeguard for the client is less apparent. LETSYSTEMS PERMIT Systems shows a story policy view in the revolutionary tradition of Northern England. A system of local values is recommended and a pilot project in Manchester, England explained. NETBILL CARNEGIE MELLON COLLEGE OR UNIVERSITY INI A great implementation of the cheque payment model using a symmetric key cryptography mechanism based on Kerberos. NETCASH/NETBANK SOFTWARE PROGRAM AGENTS, INCORPORATION. Policy enables transactions for free but a charge of 2% can be levied pertaining to transfers into or out from the system.

No security device or data flow is usually described. NETCASH USC A cash version. NETCHEQUE USC An rendering of a check payment model employing a symmetric key cryptography mechanism depending on Kerberos. NETPAY BOSTON SOFTWARE An EDI based deal settlement program developed by Advantis. NETCHEX Repayments scheme depending on a tal�n mode but using bank cards for consideration settlement. Mechanism is amazing and an in depth description is not presented. The system appears to employ a shared magic formula. MAGIC CASH CYPHERPUNK’S The supreme in online privacy policy, even the originators of the scheme are unknown. Mechanism seems to be based on PGP.

Used to apply a system by Chaum Nexus Money and by the Phantom Exchange MILLICENT DEC (SYSTEMS STUDY CENTER) A payments protocol with a scrip based alternative of a check model. MONDEX Cash scheme based on a hardware “purse” device. This gives the moveability and network independence of physical endroit. SECURE COURIER NETSCAPE A card payment scheme based upon public crucial technology built on the Protect Sockets Coating protocol. PROTECT ELECTRONIC PAYMENT PROTOCOL MASTER CARD MasterCard sponsored payments process based upon the IBM IKP protocol. Developed in association with APPLE, Netscape, Internet Cash and GTE Corp.

SECURE INTERNET PAYMENT SERVICE CYBERCASH A well established payments scheme employing general public key cryptography to protect absolutely free themes authentication data and provide non-reputability. STORED WORTH CARD VISA FOR AUSTRALIA A prepared cash plan based on hardware device enabling purchases. VISHNU HEWLETT-PACKARD LABS BRISTOL A mechanism intended for cheque/card structured payment. Employs a Change Holliman structured cryptographic device which lets novel info flow optimizations. RELATED FUNCTION XIWT An additional National Info Infrastructure holding. This one gives a comprehensive break down of the requirements for electronic digital cash.

ELECTRONIC DIGITAL MONEY AND MONEY IN HISTORY ROY REVEALED Two articles on the great money with a well designed annotated index. The First Intercontinental Conference upon Electronic Trade University of Texas by Austin, Austin , Oct 30-31 95 FURTHER JOB Provision is perfect for unlisted strategies to be signed up. At present zero facilities are offered to provide substitute analysis in respect to taxonomy of their choice such as efficiency or to offer comment on a particular proposal. TOP 10 PLAYERS IN BANKING & FINANCE 5. State Lender of India * HDFC bank 5. Citibank 2. ICICI Traditional bank * Punjab National traditional bank UTI Lender * Hongkong & Shanghai Banking Corp. * Kotak Mahindra Financial institution * Sundaram Bank 5. Oriental Financial institution of Trade A brief details of these exclusive banks is as follows: THE STATE OF HAWAII BANK OF INDIA The State Bank of India, the country’s most ancient Bank and a premier in terms of balance sheet size, number of branches, industry capitalization and profits is definitely today going through a momentous phase of Change and Transformation – the two hundred or so year old Open public sector giant is today stirring away of the Public Sector legacy and moving with an capability to give the Private and Foreign Banks something to fear..

The bank is usually entering into innovative businesses with strategic connect ups – Pension Money, General Insurance, Custodial Solutions, Private Equity, Portable Banking, Point of Deal Merchant Buy, Advisory Providers, structured products etc – each one of these projects having a enormous potential for growth. HDFC | |

The Housing Expansion Finance Corporation Limited (HDFC) was between the first to get an , in principle’ approval in the Reserve Bank of India (RBI) to setup a lender in the non-public sector, as part of the RBI’s liberalization of the Of india Banking Market in 1994. The bank was incorporated in August 1994 in the name of , HDFC Bank Limited’, with its listed office in Mumbai, India. HDFC Financial institution commenced procedures as a Timetabled Commercial Financial institution in January 1995. |

Currently contains a nationwide network of 1, 780 Branches and 5, 318 ATM’s in 833 Indian towns and cities. HDFC Bank proclaimed the beginning of it is services in the year 1995 with setting a loud and clear concept that it would like to become a “World-class Indian Bank”. It always believed in winning the minds of their customers with quality products. It is the single reason why today HDFC has been able to attain both countrywide and worldwide acclaim. CITIBANK COMMITMENT TO INDIA: 5. Established back in 1902 in Kolkata Is the largest foreign direct investor in financial providers in India with a total capital determination of over USD 5 Billion in the onshore banking and financial services business, it is principal and alternate expenditure program * As promoter-shareholder, Citi offers played a top role in establishing crucial market intermediaries with safety deposit, credit bureaus, removing and payment institutions 5. Operates 40 full-service Citibank branches in 30 cities and over 400 ATMs around the world * Workplace of choice to 8, 1000 people and indirect workplace to more than 20, 500 others * Is the greatest taxpayer in India amongst international financial institutions? ICICI TRADITIONAL BANK ICICI Lender started being a wholly owned subsidiary of ICICI Limited, an Indian financial institution, in 1994. ICICI Bank includes a wide network both in Of india and abroad. In India alone, the financial institution has one particular, 420 limbs and about 4, 644 ATMs.

Talking about foreign countries, ICICI Bank has made its existence felt in 18 countries , Us, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai Worldwide Finance Hub and rep offices in United Arabic Emirates, Cina, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. The Bank happily holds the subsidiaries in great britain, Russia and Canada away of which, the UK subsidiary has built branches in Belgium and Germany. PUNJAB NATIONAL TRADITIONAL BANK (PNB) The Punjab Nationwide Bank or perhaps PNB is among the well known business and financial institutions in India. It is the second largest government owned and regulated business bank in the area and offers specialised solutions and financial services in a number of sectors. Around 37 million customers are served by bank by using an average basis. The custom-made facilities and services make it a trusted term in the site of banking.

Punjab Countrywide Bank was registered under the Indian Firms Act on nineteen May back in 1894 and its first office was create at Anarkali Bazaar in Lahore. Since that time, the bank has changed into a great term in the field of banking and is quite definitely preferred by customers to get the broad variety of its services. AXIS LENDER Axis Traditional bank was formed while UTI because it was designed in year 1994 when Authorities of India allowed private players in the banking sector. The bank was sponsored together by the manager of the particular undertaking of the Unit Trust of India, Life Insurance Firm of India (LIC) and General Insurance Corporation limited. and its subsidiaries namely Nationwide insurance company ltd. the New India Assurance Organization, the Oriental Insurance Organization and Usa Insurance Company Ltd. However , the name of UTI was changed due to disagreement upon terms and conditions in the bank specialist over certain stipulations which include royalty charged over the name from UTI AMC. The bank also wanted to possess a new be derived from its pan-Indian as well as international business point of view. So from July 30, 2007 onwards the UTI bank was named since Axis Traditional bank. HSBC HSBC’s origins in India date back to 1853, when the Mercantile Lender of India was established in Mumbai. The Bank has seeing that, steadily cultivated in reach and services offerings, keeping pace while using evolving financial and monetary needs of its buyers.

In India, the Bank presents a comprehensive collection of world-class products and services to its corporate and industrial banking clients as likewise to a fast growing personal banking consumer bottom. KOTAK MAHINDRA BANK Kotak Mahindra Bank is one of India’s leading financial personal banking institutions. It provides banking alternatives that addresses almost every world of your life. Some of the financial services incorporate commercial financial, stock broking, mutual money, life insurance and investment bank. Established under the brand of Tampilan Mahindra Financing Ltd in 1984, it absolutely was given the license to carry on with banking business by the Reserve Traditional bank of India in February 2003. Is it doesn’t first business in the American indian banking history to convert to be modified from a private financial institution into a bank. ASIAN BANK OF COMMERCE

Asian Bank of Commerce India was established in the year 1943 upon 19th February in Lahore. After canton, Oriental Traditional bank of Trade shifted its Registered Business office from Lahore to Amritsar paying just about every rupee to its leaving behind customers. Asian Bank of Commerce was nationalized in 15th The spring in 80. Then OBC bank had 307 twigs with Rs. 282. sixty one crore while deposits and since advance Rs. 152. 69. OBC has a network of 530 branches and 505 ATM’s spread throughout India, out that 490 divisions offer central banking solutions. OBJECTIVE OF STUDY/NEED OF STUDY CONTRIBUTION TO THE SCHOLARS Banking is one of the most important opportunities among learners because it is well paid, safeguarded and large status career.

Though it could appear these jobs aim at commerce/economics college students but the fact is that majority of financial institution officers are from diverse streams of education just like Arts, Scientific research and others. The all round needs for experts has made financial institutions: Public Sector, Foreign and Multinational to recruit a growing number of MBA participants, CAs and CFAs to improve efficiency. Even so bright participants from virtually any subject could get entry in the Public sector Banks via an All India Examination executed themselves by simply banks. CONTRIBUTION TO THE MARKET To understand the issues and constraints faced by a product supervisor in re-naming or pulling out a Bank service or product in the market.

To understand the issues and constraints confronted by internet marketers with regard to choosing a suitable name brand or any manufacturer extension pertaining to banking service. To appreciate the importance of customer interaction and understanding the habit of the goal customer portion. CONTRIBUTION TOWARDS THE SOCIETY The value of financial institutions in American indian economy continues to be very good in creating employment and so eliminating lower income. Further, it also affected the following – 2. Changed the age old perception of poor farming based country to a growing manufacturing centered country. 2. Effected better higher education establishments especially in technological fields. Ensured fair competition amongst marketplace players. 5. Dissolved the concept of monopoly and so neutralized market manipulation practices. * Increased access to essential items. 2. Increased development opportunities. 5. Lowered prices of vital items. * Increased worth of human being capital. 2. Improved cultural life of the middle school Indian. 2. Decreased the percentage of people living below the lower income line in India. STUDY METHODOLOGY “RESEARCH IS A SKILL OF CLINICAL INVESTIGATION OR ENQUIRY, ESPECIALLY THROUGH HUNT FOR NEW INFORMATION IN ANY BRANCH OF KNOWLEDGE. ” RESEARCH DESIGN AND STYLE A research style is a platform or blueprint for performing the research job.

It identifies the details in the procedures essential for obtaining the information needed to structure and/or fix research trouble. We can classify research design and style into two general types: * Exploratory research * Conclusive exploration * Educational research: Disovery research is an example of a research style, which has its primary goal the supply of observations into, and comprehension of, the problem circumstance confronting the researcher. * Conclusive research: Conclusive research is designed to support the decision machine in deciding evaluating and selecting the best intervention to take in specific situation. Decisive research could be further broken into two types: – * Detailed * Experimental The research design and style used in this kind of project can be described as DESCRIPTIVE STYLE.

Descriptive research as the name signifies is designed to explain something-for example the characteristics of users of the given item, the degree that the product utilize varies with income, era, etc SAMPLING TECHNIQUE USED This research has employed convenience sample technique. 1) Convenience testing technique: Comfort sampling is used in exploratory research where the researcher is interested in obtaining an inexpensive approximation of the fact. As the name suggests, the sample is chosen because they are convenient. SAMPLE SIZE For the analysis, a sample size of 100 have been taken into consideration. METHODOLOGY AND OPTIONS FOR DATA COLLECTION Research depends on two sources: 1 ) Primary info 2 . Extra data 1) PRIMARY DATA:

Questionnaire:  Primary data was collected by simply preparing set of questions and the everyone was randomly being requested to fill all of them. 2) SECOND DATA: Supplementary data will consist of several literatures like books that happen to be published, articles, internet and websites. To be able to reach relevant conclusion, research work needed to be developed in a proper approach. STATISTICAL EQUIPMENT USED FOR EVALUATING AND UTILISING DATA The main statistical equipment used for the gathering and studies of data in this project happen to be: 1 . Set of questions 2 . Cake Charts three or more. Bar Blueprints 4. Steering column Charts a few. Doughnut Chart LIMITATIONS * The study was confined to some areas of Kanpur city only. * As well as cost constraints were also presently there. Banks views to the customer survey were not readily available. * Chances of some biasness could not end up being eliminated. 2. A sample size of 100 has been use as a result of time limit. * A number of the respondents were not cooperative. * Some respondents were hesitating to give personal details. INFO PRESENTATION Queen. 1 Which in turn of the next plans and policies the bank include related to electric payment system? EVALUATION: On requesting, which with the following strategies and guidelines your financial institution have relevant to electronic transaction processing system: a) 38% respondents were in favor of Security. b) 16% respondents had been in favor of Online privacy policy. c) 36% respondents were in favor of Password. ) 10% respondents were in favor of Additional option. Queen. 2 Does your bank give Online Bank? EVALUATION: About asking, does your bank offer online banking: 77% respondents agree that their lender offer them on the net banking although 23% respondents were in “No” within their opinion. Q. 3 How many times you utilize it? ANALYSIS: From the review it was discovered that amidst all respondents: a) 35% of the respondents always use the service of on the web banking. b) 54% in the respondents occasionally use the service of online banking. c) 11% with the respondents by no means use the center of on the web banking. Queen. 4 Happen to be any application form available on your bank’s website? ANALYSIS:

On requesting, Are any kind of application form offered in your bank’s website: 68% offered response in “Yes” that application form available on their bank’s website, whilst 32% gave response in “No”. Queen. 5 If Yes! How does you submit that? EVALUATION: In the survey it was found that amongst all respondents: a) 58% of the participants like to submit their form In-Person. b) 36% in the respondents love to submit their very own application form Online. c) five per cent of the respondents like to submit their application by Postal mail. d) 2% of the participants like to submit their license request form by some other Option. Q. 6 Did your bank certifies the legitimacy of your license request form you have posted? EVALUATION:

In asking, did your bank validate the legitimacy of it is customers when providing financial loans: Majority of the persons 94% views that their bank verifies the legitimacy of its customers while offering loans and 6% had been in “No” in their views. Q. six In your view, what is the main issue with the electronic transaction processing system? EVALUATION: About asking, precisely what is the main issue with the electronic payment system in their opinion, answers were as follows: 38% in the respondents view that Transaction is the main issue with the electronic digital payment system. 27% view that Reputation, 20% view that Compliances, 11% view that Strategy and 4% view that some other option is an essential issue with the electronic payment system. Q. almost 8 What is bundled with your bank’s website? ANALYSIS:

On asking, what is bundled with your bank’s website, replies were as follows: 38% respondents were in favour of Internet Bank, 25% participants Bill Payment, 13% participants Insurance Service, 9% participants Commercial Organization Services, 7% respondents Brokerage Service, 6% respondents Small Business Assistance and 2% respondents were in favor of Additional Option. Q. 9 Besides application form, are any types of lending or financial loans and advances done over the internet? EVALUATION: About asking, Besides application form, will be any types of lending or financial loans and advances done on the internet: 57% respondents were for “Yes” while 43% respondents were for “No”, Q. 10 Did your bank supplied a guarantee or warranty every time a payment can be not effectively made? ANALYSIS: On requesting, does your financial institution provided a guarantee or warrantee when a payment is certainly not properly made: 48% gave response in “Yes” while 52% provided response in “No”. Queen. 1 Is your financial institution allows you to advertise on the bank’s website? (If you really are a Business person). EVALUATION: Upon asking, can be your bank allows you to advertise on the bank’s website? (If you really are a Business person): 24% provided response in “Yes” when 76% gave response in “No”. Queen. 12 The thing that was your reasoning for taking net banking and any other digital banking? EVALUATION: On requesting, what was your reasoning to take internet banking and/or any other electronic banking: 48% participants were in support of Time Keeping, 22% respondents Money Saving, 25% respondents Comfort and five per cent respondents were in favor of Additional Option. RESULTS AND IDEAS Latest technology intended for providing better security towards the customers’ orders. * Even though most of the clients are content with policies, strategies of electronic digital payment system they may have but some new attractive services and ideas should be bring in to situation them with the bank. * Financial institutions should present full and fair info of digital payment system for the customers just before providing to allow them to take interest. 2. With the changing lifestyle, people have started becoming more habitual of using latest technology and gizmos. Therefore , the banks ought to use ideal techniques thereby reducing the void of privacy and security. The survey shows that urban areas would be the places where this payment system is very successful. The banks need to try to boost the use of electric payment system by simply creating and focusing on more utilities and Convenience of this system so that it may be successful in rural area also. SUMMARY Following would be the concluding factors taken into consideration following the conduct from the research study: 2. Most of the respondents were of the strong look at that the online privacy policy is the biggest problem of electronic payment system. * An important finding that surfaced out of the study was that 57%of people love to use the facility of on the web banking whilst 43% of people not opt for this. A lot of the respondents want to take facility of internet financial for keeping their time. * A lot of the respondents firmly viewed that reputation, deal and approach are the main issue for offering the facility of online banking by the banking companies. * A crucial finding with the survey was that 36%of people submit their particular application form on the net while 57% people fill in it real time. BIBLIOGRAPHY Websites: * www. aciworldwide. com * www. finance. indiamart. com 5. www. statebankofindia. com 5. http://www. icicibank. com * http://www. hsbc. co. in * assistance. [email, protected] com 2. www. tampilan. com * www. obcindia. com * www. axisbank. com 2. www. fund. yahoo. com * www. finmanagementsource. com (Annexure 1) QUESTIONNAIRE Hello!

I was Ankita Srivastava Student of management college or university (DAMS, Kanpur) pursuing my MBA carrying out a project operate partial satisfaction of my personal live task. I i am undertaking a project “AN RESEARCH ON ELECTRONIC DIGITAL PAYMENT SYSTEM AND ITS PARTICULAR PROBLEMS”. In view of this, I actually hereby ask for you to give your feedback on the questionnaire provided below. I make sure you that your response will be kept completely private. PERSONAL DETAILS: NAME , , , , , , , , , , , , , , , , , – ERA , , , , GENDER , , , , , , , , – CONTACT , , , , , , , , , , , OCCUPATION: A) BUSINESSMAN [ ] B) PROFESSIONAL [ ] C) STUDENTS [ ] D) HOUSE WIFE [ ] BANK BRAND , , , , , , , , , , , , , , , , , , , , , , , , , Queen. Which with the following plans and guidelines your bank have relevant to electronic payment processing system? a) Securityc) Password b) Privacy Policyd) Other (Explain) Q. a couple of Does your traditional bank offer On-line Banking? a) Yes b) No Q. 3 Just how many times you utilize it? a) Alwaysb) Sometimesc) Never Q. 4 Happen to be any form available on your bank’s website? a) Yes b) No Q. 5 If you do! How does you submit it? a) Fernkopie b) On-line c) Snail mail d) Real time e) Additional (Explain) Q. 6 Does Your bank verifies the capacity of your license request form you have submitted? a) Yes b) Zero Q. six In your judgment, what is the key issue with the electronic transaction processing system? a) Strategies c) Reputation e) Deal b) Compliances d) Other (Explain) Queen. What is bundled with your bank’s website? a) Internet Banking c) Insurance Service b) Bill Paymentd) Commercial Business Services e) Brokerage Servicesg) Small Business Services f) Other (Explain) Queen. 9 Besides application form, happen to be any types of loaning or loans and improvements done online? a) Yes b) Simply no Q. 10 Does your bank provided an assurance or warranty when a repayment is not properly manufactured? a) Yesb) No Queen. 11 Is definitely your lender allows you to advertise on the bank’s website? (If you are a Business person). a) Yes b) Zero Q. doze What was your reasoning to take internet banking and/or any other electronic financial? a) Period Saving c) Convenience b) Money Saving d) Other (Explain)

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