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This is to certify that Mr. Pradeep Narayan Unkule is a bonafied student of Dhole
Patil College of Engineering, Pune pursuing Masters of Business Administration course of
2017-19 has successfully completed his Dissertation project titled “A STUDY ON INDIAN
This project is accomplished adequately and submitted in partial fulfilment of MBA
FINANCE curriculum as per the requirement of Savitribai Phule Pune University for batch

Prof. Shrikant Jagtap Prof. Dr. Nihar Walimbe ---------------------------

Project Guide HOD, MBA Dept. Principal External Examiner
Dhole Patil COE, Pune Dhole Patil COE, Pune University of Pune


I, Pradeep Narayan Unkule, hereby declare that the project title “A STUDY ON INDIAN
BANKING ASPECTS” is an original piece of research work carried by me under the guidance
and supervision of Prof. Shrikant Jagtap.
The information has been collected from genuine and authentic sources. The project is
submitted in partial fulfilment of the requirement of Master of Business Administration to
Pune University.














1 Table No. 6.1 34
2 Table No. 6.2 36




5 Table No. 6.5 43
6 Table No. 6.6 44
7 Table No. 6.7 45
8 Table No. 6.8 46
9 Table No. 6.9 47




2 Chart No. 6.1 44




The banking sector is the lifeline of any modern economy. It is one of the important financial
pillars of the financial sector, which plays a vital role in the functioning of an economy. It is very important
for economic development of a country that it’s financing requirements of trade, industry and agriculture
are met with higher degree of commitment and responsibility. Thus, the development of a country is
integrally linked with the development of banking.

In a modern economy, banks are to be considered not as dealers in money but as the leaders of
development. They play an important role in the mobilization of deposits and disbursement of credit to
various sectors of the economy. The banking system reflects the economic health of the country. The
strength of an economy depends on the strength and efficiency of the financial system, which in turn
depends on a sound and solvent banking system.

A sound banking system efficiently mobilized savings in productive sectors and a solvent banking
system ensures that the bank is capable of meeting its obligation to the depositors. In India, banks are
playing a crucial role in socio-economic progress of the country after independence. The banking sector is
dominant in India as it accounts for more than half the assets of the financial sector.

Indian banks have been going through a fascinating phase through rapid changes brought about by
financial sector reforms, which are being implemented in a phased manner. The current process of
transformation should be viewed as an opportunity to convert Indian banking into a sound, strong and
vibrant system capable of playing its role efficiently and effectively on their own without imposing any
burden on government. After the liberalization of the Indian economy, the Government has announced a
number of reform measures on the basis of the recommendation of the Narasimhan Committee to make the
banking sector economically viable and competitively strong.

The current global crisis that hit every country raised various issue regarding efficiency and
solvency of banking system in front of policy makers. Now, crisis has been almost over, Government of
India (GOI) and Reserve Bank of India (RBI) are trying to draw some lessons. RBI is making necessary
changes in his policy to ensure price stability in the economy. The main objective of these changes is to
increase the efficiency of banking system as a whole as well as of individual institutions. So, it is

necessary to measure the efficiency of Indian Banks so that corrective steps can be taken to improve the
health of banking system.

According to the Banking Companies Act of 1949, Banking is defined as, accepting for the purpose
of lending or investment of deposit money from the public, repayable on demand or otherwise and
withdrawals by cheque draft, order or otherwise. It also defines Bank as an institution dealing in money
and credit. It safeguards the savings of the public and gives loans and advances.

Indian banking system, over the years, has gone through various phases. For ease of study and

understanding, it can be broken into four phases:-

1. Early Phase: During the first phase, the growth was very slow and banks experienced periodic failures

during the Early Phase between. There were approximately 1100 banks, mostly small which failed in the

early phase.

2. Pre Nationalization Phase: Breakthrough happened in this phase, was Reserve Bank of India. Reserve

Bank of India (RBI) was created with the central task of maintaining monetary stability in India. This

phase of Indian banking was eventful and was a phase of restructuring, regulation. However, despite

these provisions, control and regulations, banks in India except the State Bank of India, continued to be

owned and operated by private persons

3. Post Nationalization Phase: This phase of Indian banking not so happening for entry of new banks.

Undoubtedly, it was a phase of expansion, consolidation and increment in many ways. The banking

sector grew at a phenomenal rate, fruits of nationalization were evident, and the common man was now

banking with great trust.

4. Modern Phase: This is the phase of “New Generation” tech-savvy banks. This phase can be called as

“The Reforms Phase”. Currently, banking in India is generally fairly mature in terms of supply, product

range and reach-even though reach in rural India still remains a challenge for the private sector and
foreign banks.

5. Demonetization

Demonetization is a tool to battle Inflation, Black Money, Corruption and Crime,

discourage a cash dependent economy and help trade. Its policy of the government by banning
Rs. 500 and Rs.1000 currency notes has influenced all almost all the corner of the economy.
Excess deposit growth in the banking system during the demonetization period (i.e., November 11, 2016
to December 30, 2016) works out to 4-4.7 percentage points. If the period up to mid-February 2017 is
taken into account to allow for some surge to taper off, excess deposit growth is in the range of 3.3-4.2
percentage points.
6. Push to digital banking-
A cashless economy is one in the flow of cash within an economy is non-existent and all
transactions have to be through electronic channels such as direct debit, credit and debit cards, electronic
clearing, payment systems such as Immediate Payment Service (IMPS), National Electronic Funds Transfer
and Real Time Gross Settlement in India.

7. Digital transaction platforms

• UPI:
Unified Payment Interface (UPI) allows you to make payments using your mobile phone as the
primary device for transactions, through the creation of a ‘virtual payment address’, which is an alias for
your bank account. UPI was launched by the National Payment Corporation of India (NPCI).

• BHIM App:
The Bharat Interface for Money (BHIM) in an initiative by the Govt to enable fast, secure and
reliable cashless payments through mobile phones. BHIM is Aadhaar-enabled, inter- operable with other
Unified Payment Interface (UPI) applications and bank accounts, and has been developed by the National
Payments Corporation of India (NPCI). This seals the government’s push towards digital payments after
the demonetization that resulted in the scrapping of high-value Rs 1,000 and Rs 500 currency notes.

• Aadhar Pay:
There are lots of payment apps in the market. These are the UPI apps, SBI Pay, Paytm, Phonepe,
Freecharge, mobile wallets etc. But, the Adhaar Payment App is special as you can pay through the Adhaar
Payment App without phone. It is possible because you the customer does not require the app. The merchant
or a person, who want money, have to arrange a smartphone, app, etc. The payer don’t require anything.
This app is made for the merchants and shopkeepers. Customer would only enjoy its

benefits. The Adhaar Payment apposes your fingerprints for the authentication. On the basis of this
authentication, the money is paid from your Aadhar linked account.

8. Impact of GST on Banking – General services-

Banks in India have been levying service tax on most transactions enabled by their systems. These
include but are not limited to digital fund transfers, issuance of ATM cards and cheque books, and ATM
withdrawals beyond a specific limit. With GST on financial services, these services will be taxed at the rate of
18% instead of the 15% service tax rate that was being charged earlier. For example, if you withdraw money
from an ATM other than your bank’s ATM after exceeding the “free transaction limit”, you are typically charged
Rs 20 plus a service tax, which comes to around Rs 23. With the imposition of GST, this amount will go up to
Rs 23.60.
A major advantage of GST on financial services and other sectors is that it is a transparent tax and has
reduced the number of indirect taxes. It integrates different taxes and ensures that the tax burden is fairly divided
between different entities involved in the system. In addition, GST is essentially technology based. The advanced
software systems used in its calculation and filing works will reduce the chances of manual errors and will lead
to better decision making.



1) To understand the importance of banking sector.

2) To study the Indian banking scenario.

3) To study recent IT trends in Indian banking system.

4) To study various bank, public and private bank.



Banking in India originated in the first decade of 18th century. The first banks were The General
Bank of India, which started in 1786, and Bank of Hindustan, both of which are now defunct. The oldest
bank in existence in India is the State Bank of India, which originated in the "The Bank of Bengal" in
Calcutta in June 1806. This was one of the three presidency banks, the other two being the Bank of Bombay
and the Bank of Madras. The presidency banks were established under charters from the British East India
Company. They merged in 1925 to form the Imperial Bank of India, which, upon India's independence,
became the State Bank of India. For many years the Presidency banks acted as quasi-central banks, as did
their successors. The Reserve Bank of India formally took on the responsibility of regulating the Indian
banking sector from 1935. After India's independence in1947, the Reserve Bank was nationalized and given
broader powers.

Indian Bank's Association (IBA) – Conducted an all India survey to rate the customer service provided
by all the 27 public sector banks aimed at fostering healthy competitive spirit amongst banks to improve
upon their customer service. The aim of this study is to ensure the quality of service as perceived by the
customers of public sector banks and identify areas where the banks need to improve for achieving higher
levels of customer satisfaction. The study has been a massive one covering about 2500 bank branches and
about 85,000 customers (respondents) at the all India level. Sample branches in all categories have been
randomly chosen by IBA in proportion to the business/the number of branches in a particular category. In
addition to bank rating at regional level and all India level, the survey results will also be used for rating
each region on the basis of the customer service of all sample branches of the banks' operating in the region

Dr. Virender Koundal (2012) concludes that commercial banks in India get favourable effects because of
the various reforms. Even though the overall profitability has also improved, the major benefit is taken by
the private sector banks and foreign banks whereas public sector banks are still lagging behind on various
financial parameters.

Sana Samreen (2014) has analysed the overall banking industry with the help of Porter's five forces model.
The study also concentrated on the various developments, challenges and opportunities in the banking
industry. The author emphasized upon the need to act both decisively and quickly to build an enabling,
rather than a limiting, banking sector in India.

Malaya RanjanMohapatra, AvizeetLenka, Subrat Kumar Pradhan (2015) have analysed the
operational efficiency of commercial banks in India and challenges faced by public sector banks. The
parameters considered for study are Labour productivity, branch expansion and profitability ratios. The
study concluded that internal management and employee efficiency of foreign banks are far better than
other sectors of commercial banks. Public sector banks are lagging behind in various financial parameters.

Amit Kumar Dwivedi, D. Kumara Charyulu (2011) determine the impact of various market and
regulatory initiatives on efficiency improvements of Indian banks. They concluded that reform process has
shifted the focus, of public sector dominated banking system, from social banking to a more efficient and
profit oriented industry. The infusion of private equity capital has led to shareholders' challenges and
bureaucratic decision making. The emphasis in banking has shifted from traditional banking to technology
based banking.

Souza, in his study evaluated the performance of public sector banks, private sector banks and foreign
banks during the period 1990-1991 to 1999-2000. The efficiency of the banking system was measured in
terms of spread/working fund ratio and turnover/employees ratio.

ShiffuAbrol (research paper- University of Jammu) -the digital revolution has undoubtedly changed
almost every aspect of daily life as we stepped into the twenty first century. The power of the World Wide
Web and global ecommerce is becoming more significant with the increasing number of people around the
world getting connected to the internet (Siu and Mou, 2005). There are several competitive advantages
associated with the adoption of technology in service organizations which include the creation of entry
barriers, enhancement of productivity and increase of revenue generation from new services (Fitzsimmons
and Fitzsimmons, 1997). However, developments in information and communication technology have
provided a platform by which banks can design, develop and deliver services that can be perceived by
customers as superior while accessing online channel for banking transactions.

Service quality is one of the main factors that determines the success or failure of electronic
commerce. It is very important component in any banking business. Service quality is the difference
between customer expectations for the service encounter and the perceptions of the services received.
Service quality can also be defined as the consumer’s overall impression of the relative
inferiority/superiority of the organization and its services. Accordingly service quality is defined as how
well a delivered service level matches customer expectations. Customers perceive the quality of services of
online banking based on the performance of online delivery systems and not on the processes in which
the delivered service is developed and produced. Numerous studies were carried out to conceptualize the
service quality concept. It can also be defined by the practitioners in terms of key dimensions that customers
use while evaluating the services. The conceptualization of service quality should include both the service
delivery process.as well as the service outcomes. In the early 1980s model was proposed by Gronroos
(1984) which defined the dimensions of service quality and these include technical quality (what consumers
get), functional quality (how consumer gets the services) and corporate image (how consumer perceives the
firm and its services).

Scheduled Bank

Scheduled Banks are those banks which are listed in the Second Schedule to the Reserve
Bank of India Act, 1934. The Banks satisfying the following conditions are only included in the Second
Schedule. (a) That the Bank’s paid up capital plus free reserves are not less than Rs. 5.00 lakh, and (b) That
the affairs of the Bank are not conducted to the detrimental interest of the depositors. The Reserve Bank
also has powers to reschedule a bank, when the abovementioned conditions are not satisfied. It may be
noted presently, the RBI has prescribed a minimum capital of Rs. 100 corers for starting a new commercial

Banking Company

The Banking Regulation Act, 1949 defines a banking company as a company which transacts
the business of banking in India [Section 5(c)]. The development of 'Banking' is evolutionary in nature.
There is no single answer to the question of what is banking, because a bank performs a multitude of
functions and services which cannot be comprehended into a single definition. For a common man, a bank
means a storehouse of money, for a businessman it is an institution of finance and for a worker it may be a
depository for his savings. It



Historical Perspective of Indian Banking -

The existence of money lending activity in India is as old as about 2000 to 1500 B.C. evident
from the literature of Vedic times (Macdonnell and Keith)[1]. There is however no confirmation available
for professional pursuance of this activity except in the case of a community around 500 B.C The Buddhist
literature also contains evidences of the existence of the bankers called sreshthis who were present in all
the important trade center’s having a far-reaching influence on the life of the community. Their chief
activity was to lend money to the traders, to merchant adventurers who went to foreign countries, to
explorers who marched through forests to discover valuable materials and to kings who were in financial
difficulties due to war or other reasons, against the pledge of movable or immovable property or personal
surety (Panandikar, 1966)[2]. “Usury was practiced but was held in contempt. From the laws of Manu, it
appears that money lending and allied problems had assumed considerable importance, and that deposit
banking in some form had come into existence by the second or third century of the Christian era” (Ibid)[3].
The evidence of banking activities is also found in the works of some Muslim historians and European
travellers as well. Further the Ain-e-Akbri and the state records of that time indicate that bankers played an
important role and money lending was important in Mughal era. The earliest moneychangers in India were
“Seths” or “Sahukars” or “Sowcars” who dealt with this business in various parts of the country. They were
mostly “Banias” belonging to the trading community and dealt with “hundies” i.e. indigenous bills of
exchange and functioned simultaneously as moneylenders. They catered to the needs of agriculturists and
businessmen in a similar way. They formed a significant links between the producers and middlemen.
Further they advanced loans to the consumers as well. The modern concept of “Banking” has its roots in
the European Continent.

According to one galaxy of economists, the word ‘Bank’ has been derived from the German
word “BANK” which means “joint stock of firm”. Another opinion of economists indicates that it has been
derived from the Italian word ‘BANCO’ meaning “a heap or mound”. As a matter of fact, the Germans
were highly influential at the time of establishment of the Bank of Venice in 1157, this most probably was
the reason behind the use the word “BANCO” by the Italians to denote the accumulation of securities with
joint stock firm which later on with the passage of time came to be known as Bank. A concise description
of this development is essential to get a fair historical background because the East India Company is the
precursor of modern banking in India. Being European entity, it brought the concept of commercial banking
from Europe. East India Company (EIC) was granted Royal Charter for the purpose of trading in 1600

A.D., the nature and volume of trade necessitated establishment of banking system to facilitate inward and
outward remittances; collection and negotiation of bills, cheques, notes etc. and provision of credit.

Modern banking in India which is the form of joint stock companies may be dated back to
1786, with the establishment of the General Bank of India. In 1806, the East India Company established
the first Presidency Bank in Kolkata with the name “The Bank of Calcutta Limited”. It received Royal
Charter in 1809 and was renamed as the “Bank of Bengal”. In the same manner, two more banks were
established in 1840 and 1843 named “Bank of Bombay” and “Bank of Madras”, respectively. The Royal
Charter governed the three Presidency banks, which was revised from time to time. There were no legally
recognized commercial banks with special right within India other than the Presidency banks. The East
India Company’s government reserved the right to regulate the monetary and credit system to itself. The
Paper Currency Act of 1861 abolished the right to issue currency notes bestowed upon the Presidency
The only authority now empowered to perform this function was the Government. January
1868 marked the establishment of the New Bank of Bombay on the collapse of Bank of Bombay. Further
in 1876 the Presidency Bank Act came into existence, which brought the three Presidency banks under the
common statute and restriction on business. In terms of Act XI of 1876, the Government of India decided
on strict enforcement of the charter and the periodic inspection of the books of these banks. Up to the year
1919, these banks had 70 branches as (26+18+26 respectively), and they were mostly established in the
port towns. Under the Imperial Bank of India Act, 1920, these three banks were directed to merge together.
In 1921, the three Presidency banks and their branches were amalgamated to form one strong bank i.e., the
Imperial Bank of India. A directive was issued to this bank to open 100 branches in 5 years at potential
mandi (trade) towns for the improvement of trade.

Imperial Bank of India was formed with the objective to develop it into a Central Bank of
the country. However, the Hilton-Young Commission recommended that a separate bank be created to
function as the Central Bank of the country which was proposed to be named as the ‘Reserve Bank of India’.
Before the establishment of such central entity, the Imperial Bank of India was allowed to discharge all the
functions of the central Bank such as, currency and credit, public debt, government receipts and
disbursements, management and issue of securities and bonds, banker’s bank, facilitator for remittances to
public and banks at rates prescribed and controlled by the government, also to function as sole banker to
the government etc.

The Allahabad Bank and the Punjab National Bank were established in 1865 and 1894 respectively.
Some other large banks of today, namely, the Bank of India, the Central Bank of India, the Bank of Baroda,
the Canara bank, the Indian Bank, and the Bank of Mysore were established in between 1906 to 1913. The
period of 1913 to 1948 was marked by a very slow growth as well as frequent bank failures. The Banking
Crisis of 1913 revealed the weaknesses of the banking system such as the maintenance of an unduly low
proportion of cash and other liquid assets, the grant of large unsecured advances to the directors of banks
and to the companies in which the directors were interested. After hectic and uncontrolled expansion, there
followed the inevitable crash. The issue of failures of banks was investigated in details by the Indian Central
Banking Enquiry Committee (1929-31), with emphasis being laid on “the regulation of banking with a view
to protecting the interest of the public”.
As per the suggestions of the Report of this Committee the need for enacting a special
Bank Act, covering the organization, management, and audit liquidation of banks was felt. These
authoritative recommendations of the Committee have been an important landmark in the history of banking
reforms in India. On the strong recommendations of Committee for the establishment of a supreme body
from the point of view of the development of banking facilities in India, Reserve Bank of India (RBI) came
into formation on April 1, 1935 with the enactment of the Reserve Bank of India Act, 1934. The objective
of establishing the Reserve Bank, as stated in the preamble to the RBI Act, was to “regulate the issue of
bank notes and the keeping of reserves with a view of securing monetary stability in India and generally to
operate the currency and credit system of the country to its advantage” Year 1936 stands as a landmark in
the Indian banking history as the first attempt at banking legislation in India was made in this year in the
form of the Indian Companies (Amendment) Act, for incorporating a separate chapter on provisions relating
to banking companies.
The new legislature gave a working definition of ‘banking’ and segregate banking from other
commercial operations and special status of scheduled banks was recognized. In the mid-1938, public got
scared due to the failure of the Travancore National and Quilon Bank (TNQ Bank). The crisis of 1938 was
largely localized in South India. At this instance, RBI observed that the majority of the non- scheduled
banks were working without any control as they were not willing to submit their operations to the Reserve
Bank’s regulation. Between 1939 and 1949, as many as 588 banks had failed in various states. In October
1939, RBI submitted a report on the non-scheduled banks to the Central Board, exposing that a number of
non-scheduled banks had poor cash reserves, low investment ratio, over extension of the advances portfolio
and a large proportion of bad and doubtful debts. There had been an

extensive growth of banks whose financial position was suspected but the presentation of their financial
health was on the basis of dressed-up balance sheets, which did not disclose many of the more unsatisfactory

Industry scenario of Indian Banking Industry:
The growth in the Indian Banking Industry has been more qualitative than quantitative and it is
expected to remain the same in the coming years. Based on the projections made in the "India Vision 2020"
prepared by the Planning Commission and the Draft 10th Plan, the report forecasts that the pace of
expansion in the balance-sheets of banks is likely to decelerate. The total assets of all scheduled commercial
banks by end-March 2010 is estimated at Rs 40, 90,000corers. That will comprise about 65 per cent of GDP
at current market prices as compared to 67 per cent in 2002-03. Bank assets are expected to grow at an
annual composite rate of 13.4 per cent during the rest of the decade as against the growth rate of 16.7 per
cent that existed between 1994-95 and 2002-03. It is expected that there will be large additions to the capital
base and reserves on the liability side.

The Indian Banking industry, which is governed by the Banking Regulation Act of India, 1949
can be broadly classified into two major categories, non-scheduled banks and scheduled banks. Scheduled
banks comprise commercial banks and the co-operative banks. In terms of ownership, commercial banks
can be further grouped into nationalized banks, the State Bank of India and its group banks, regional rural
banks and private sector banks (the old/ new domestic and foreign). These banks have over 67,000 branches
spread across the country.

The Public Sector Banks (PSBs), which are the base of the Banking sector in India account for
more than 78 per cent of the total banking industry assets. Unfortunately they are burdened with excessive
Non Performing assets (NPAs), massive manpower and lack of modern technology. On the other hand the
Private Sector Banks are making tremendous progress. They are leaders in Internet banking, mobile
banking, phone banking, ATMs. As far as foreign banks are concerned they are likely to succeed in the
Indian Banking Industry.

In the Indian Banking Industry some of the Private Sector Banks operating are IDBI Bank,
ING Vijaya Bank, SBI Commercial and International Bank Ltd, Bank of Rajasthan Ltd. and banks from the
Public Sector include Punjab National bank, Vijaya Bank, UCO Bank, Oriental Bank, Allahabad Bank
among others. ANZ Grindlays Bank, ABN-AMRO Bank, American Express Bank Ltd, Citibank are some
of the foreign banks operating in the Indian Banking Industry.
As far as the present scenario is concerned the Banking Industry in India is going through a
transitional phase. The first phase of financial reforms resulted in the nationalization of 14 major banks in
1969 and resulted in a shift from Class banking to Mass banking. This in turn resulted in a significant
growth in the geographical coverage of banks. Every bank had to earmark a minimum percentage of their
loan portfolio to sectors identified as “priority sectors”. The manufacturing sector also grew during the
1970s in protected environs and the banking sector was a critical source. The next wave of reforms saw the
nationalization of 6 more commercial banks in 1980. Since then the number of scheduled commercial banks
increased four-fold and the number of bank branches increased eight-fold.

After the second phase of financial sector reforms and liberalization of the sector in the early
nineties, the Public Sector Banks (PSB) s found it extremely difficult to compete with the new private sector
banks and the foreign banks. The new private sector banks first made their appearance after the guidelines
permitting them were issued in January 1993. Eight new private sector banks are presently in operation.
These banks due to their late start have access to state-of-the-art technology, which in turn helps them to
save on manpower costs and provide better services.

During the year 2000, the State Bank of India (SBI) and its 7 associates accounted for a 25
percent share in deposits and 28.1 percent share in credit. The 20 nationalized banks accounted for 53.2
percent of the deposits and 47.5 percent of credit during the same period. The share of foreign banks
(numbering 42), regional rural banks and other scheduled commercial banks accounted for 5.7 percent,
3.9 percent and 12.2 percent respectively in deposits and 8.41 percent, 3.14 percent and 12.85 percent
respectively in credit during the year 2000.

Current Scenario:

The industry is currently in a transition phase. On the one hand, the PSBs, which are the mainstay
of the Indian Banking system are in the process of shedding their flab in terms of excessive manpower,
excessive Non Performing Assets (NPAs) and excessive governmental equity, while on the other hand the
private sector banks are consolidating themselves through mergers and acquisitions.

PSBs, which currently account for more than 78 percent of total banking industry assets are
saddled with NPAs (a mind-boggling Rs 830 billion in 2000), falling revenues from traditional sources,
lack of modern technology and a massive workforce while the new private sector banks are forging ahead
and rewriting the traditional banking business model by way of their sheer innovation and service. The
PSBs are of course currently working out challenging strategies even as 20 percent of their massive
employee strength has dwindled in the wake of the successful Voluntary Retirement Schemes (VRS)
The private players however cannot match the PSB‟s great reach, great size and access to low
cost deposits? Therefore one of the means for them to combat the PSBs has been through the merger and
acquisition (M& A) route. Over the last two years, the industry has witnessed several such instances.
For instance, HDFC Banks merger with Times Bank ICICI Banks acquisition of ITC Classic, Anagram
Finance and Bank of Madura. Centurion Bank, Indusland Bank, Bank of Punjab, Vijya Bank are said to be
on the lookout. The UTI bank- Global Trust Bank merger however opened a Pandora’s box and brought
about the realization that all was not well in the functioning of many of the private sector banks.

Private sector Banks have pioneered internet banking, phone banking, anywhere banking, and
mobile banking, debit cards, Automatic Teller Machines (ATMs) and combined various other services and
integrated them into the mainstream banking arena, while the PSBs are still grappling with disgruntled
employees in the aftermath of successful VRS schemes. Also, following India’s commitment to the W To
agreement in respect of the services sector, foreign banks, including both new and the existing ones, have
been permitted to open up to 12 branches a year with effect from 1998-99 as against the earlier stipulation
of 8 branches.

Talks of government diluting their equity from 51 percent to 33 percent in November 2000 has
also opened up a new opportunity for the takeover of even the PSBs. The FDI rules being more rationalized
in Q1FY02 may also pave the way for foreign banks taking the M & A route to acquire willing Indian

Meanwhile the economic and corporate sector slowdown has led to an increasing number of
banks focusing on the retail segment. Many of them are also entering the new vistas of Insurance. Banks
with their phenomenal reach and a regular interface with the retail investor are the best placed to enter into
the insurance sector. Banks in India have been allowed to provide fee-based insurance serviceswithout
risk participation, invest in an insurance company for providing infrastructure and services support and set
up of a separate joint venture insurance company with risk participation.

Aggregate Performance of the Banking Industry:

Aggregate deposits of scheduled commercial banks increased at a compounded annual average

growth rate (Cagr) of 17.8 percent during 1969-99, while bank credit expanded at a Cagr of 16.3 percent
perineum. Banks investments in government and other approved securities recorded a Cagr of
18.8 percent per annum during the same period.

In FY01 the economic slowdown resulted in a Gross Domestic Product (GDP) growth of only
6.0 Percent as against the previous year’s 6.4 percent. The WPI Index (a measure of inflation) increased

by 7.1 percent as against 3.3 percent in FY00. Similarly, money supply (M3) grew by around 16.2 percent
as against 14.6 percent a year ago.

The growth in aggregate deposits of the scheduled commercial banks at 15.4 percent in FY01
percent was lower than that of 19.3 percent in the previous year, while the growth in credit by SCBs slowed
down to 15.6 percent in FY01 against 23 percent a year ago.

The industrial slowdown also affected the earnings of listed banks. The net profits of 20 listed
banks dropped by 34.43 percent in the quarter ended March 2001. Net profits grew by 40.75 percent in the
first quarter of 2000-2001, but dropped to 4.56 percent in the fourth quarter of 2000-2001.

On the Capital Adequacy Ratio (CAR) front while most banks managed to fulfill the norms, it
was a feat achieved with its own share of difficulties. The CAR, which at present is 9.0 percent, is likely to
be hiked to 12.0 percent by the year 2004 based on the Basle Committee recommendations. Any bank that
wishes to grow its assets needs to also shore up its capital at the same time so that its capital as a percentage
of the risk-weighted assets is maintained at the stipulated rate. While the IPO route was a much-fancied one
in the early „90s, the current scenario doesn’t look too attractive for bank majors.

Consequently, banks have been forced to explore other avenues to shore up their capital base.
While some are wooing foreign partners to add to the capital others are employing the M& A route. Many
are also going in for right issues at prices considerably lower than the market prices to woo the investors.

Interest Rate Scenario:

The two years, post the East Asian crises in 1997-98 saw a climb in the global interest rates. It
was only in the latter half of FY01 that the US Fed cut interest rates. India has however remained more or
less insulated. The past 2 years in our country was characterized by a mounting intention of the Reserve
Bank of India (RBI) to steadily reduce interest rates resulting in a narrowing differential between global
and domestic rates.

The RBI has been affecting bank rate and CRR cuts at regular intervals to improve liquidity
and reduce rates. The only exception was in July 2000 when the RBI increased the Cash Reserve Ratio
(CRR) to stem the fall in the rupee against the dollar. The steady fall in the interest rates resulted in squeezed
margins for the banks in general.

Recent IT Trends of Indian banks

The banking industry is going through a period of rapid change to meet competition,
challenges of technology and the demand of end user. Clearly technology is a key differentiator in the
performance of banks. Banks need to look at innovation not just for product but for process also. Today,
technology is not only changing the environment but also the relationship with customers. Technology has
not broken many barriers but has also brought about superior products and channels. This has brought
customer relationship into greater focus. It is also viewed as an instrument of cost reduction and effective
communication with people and institutions associated with the banking business. The RBI has assigned
priority to the up gradation of technological infrastructure in financial system. Technology has opened new
product and services, new market and efficient delivery channels for banking industry. IT also provides the
framework for banking industry to meet challenges in the present competitive environment. IT enables to
cut the cost of global fund transfer. Some of the recent IT devices described as below-

Electronic Payment and Settlement System-

The most common media of receipts and payment through banks are negotiable instruments
like cheques. These instruments could be used in place of cash. The interbank cheques could be realized
through clearing house systems. Initially there was a manual system of clearing but the growing volume of
banking transaction emerged into the necessity of automating the clearing process. In order to strength the
institutional framework of electronic & clearing system, RBI constituted a board for regulation and
supervision of payment and settlement system (BPSS) in 2005.The Payment & settlement system act was
passed on 2007 which empowered the RBI to regulate & supervise the payment and settlement system and
provide a legal basis for multilateral netting and settlement.

Electronic Fund Transfer (EFT) –

The EFT System was implemented in 1995 covering 15 centres where the Reserve Bank
managed the clearing houses. Special EFT (SEFT) scheme, a variant of the EFT system, was introduced
with effect from April 1, 2003, in order to increase the coverage of the scheme and to provide for quicker
funds transfers. SEFT was made available across branches of banks that were computerized and connected
via a network enabling transfer of electronic messages to the receiving branch in a straight through manner
(STP processing). In the case of EFT, all branches of banks in the 15 locations were part of the scheme,
whether they are networked or not. A new variant of the EFT called the National EFT (NEFT) was decided
to implemented (November 2005) so as to broad base the facilities of EFT. This was a nationwide retail
electronic funds transfer mechanism between the networked branches of banks. NEFT provided for
integration with the Structured Financial Messaging Solution (SFMS) of the Indian Financial Network

(INFINET). The NEFT uses SFMS for EFT message creation and transmission from the branch to the
bank’s gateway and to the NEFT Centre, thereby considerably enhancing the security in the transfer of
funds. The commencement of NEFT led to discontinuation of SEFT, and EFT is now available only for
government payments.

Real Time Gross Settlement (RTGS) –

RTGS was launched by RBI in 2004 which enabled a real time settlement on a gross basis.
RTGS system is a funds transfer mechanism where transfer of money takes place from one bank to another
on a “real time” and on “gross basis”. This is the fastest possible money transfer system through the banking
channel. Settlement in “real time” means payment transaction is not subjected to any waiting period. The
transactions are settled as soon as they are processed. “Gross settlement” means the transaction is settled
on one to one basis without bunching with any other transaction. RTGS system is used only for large value
transactions and retail transactions take an alternate channel of electronic funds transfer, a minimum
threshold of one lakh rupees was prescribed for customer transactions under RTGS on January 1, 2007.

Automated Teller Machine (ATM) –

ATMs were introduced to the Indian banking industry in the early 1990s initiated by foreign
banks. It is perhaps most revolutionary aspect of virtual banking. The facility to use ATM is provided
through plastic cards with magnetic strip containing information about the customer as well as the bank. In
today's world ATMs are the most useful tool to ensure the concept of "Any Time Banking" and "Any Where
Banking”. The total number of ATMs installed in India by various banks as of end June 2012 was
99,218.The new private sector banks in India have the most offsite ATMs, followed by off-site ATMs
belonging to SBI and its subsidiaries and then by nationalized banks and foreign banks, while on-site is
highest for the nationalized banks of India.

Phone Banking-
Customers can now dial up the banks designed telephone number and he by dialling his ID
number will be able to get connectivity to bank’s designated computer. By using Automatic voice recorder

(AVR) for simple queries and transactions and manned phone terminals for complicated queries and
transactions, the customer can actually do entire non-cash relating banking on telephone: Anywhere,

Tele Banking-
Tele banking is another innovation, which provided the facility of 24 hour banking to the
customer. Tele-banking is based on the voice processing facility available on bank computers. The caller

usually a customer calls the bank anytime and can enquire balance in his account or other.

Internet Banking-
Internet banking enables a customer to do banking transactions through the bank’s website on
the Internet. It is a system of accessing accounts and general information on bank products and services
through a computer while sitting in its office or home. This is also called virtual banking.

Mobile Banking-
Mobile banking facility is an extension of internet banking. Mobile banking services are provided
to the customers having the credit card accounts with bank. In mobile banking, the services are provided
by the association of banks and cellular service providers through SMS or WAP enabled mobile

Customer Relationship Management (CRM) –

(CRM) refers to the methodologies and tools that help businesses manage customer relationships
in an organized way-finding, getting and retaining customers. CRM processes that help to provide
employees with the information they need to know their customers' wants and needs and build relationships
between the company and its customers.


Indian banking system consists of “non- scheduled banks” and “scheduled banks”. Non -
scheduled banks refer to those that are not included in the second schedule of the Banking Regulation Act
of 1965 and thus do not satisfy the conditions laid down by that schedule. Schedule banks refer to those
that are included in the Second Schedule of Banking Regulation Act of 1965 and thus satisfy the following
conditions: a bank must

1. Have paid up capital and reserve of not less than Rs. 5 lakh and

2. Satisfy the Reserve Bank of India (RBI) that its affairs are not conducted in a manner
detrimental to the interest of its deposits.

Scheduled banks consists of “scheduled commercial banks” and scheduled cooperative banks. The former
are further divided into four categories:

(1) Public sector banks (that are further classified as “Nationalized Banks and the “State Bank of India
(SBI) banks”);

(2) Private sector banks (that are further classified as “Old Private Sector Banks” and “New Private Sector
Banks” that emerged after 1991);

(3) Foreign banks in India, and

(4)Regional rural banks (that operate exclusively in rural areas to provide credit and other facilities to small
and marginal farmers, agricultural workers and small entrepreneurs). These scheduled commercial banks
except foreign banks are registered in India under the Companies Act.




Research Methodology The study is descriptive in nature and this attempt is made to
evaluate the performance of the bank through the financial data which are disclosed in accounting policies.
Thus the study is based on the published accounts and annual reports of the RBI banks. The study is done
on the data collected from the annual reports of the public sector banks and private and foreign sector banks.
Data analysis is done on the basis of numbers only.

Tools for data collection

The study is purely based on secondary data. The data required for the study will be
collected from annual reports of RBI bank, various journals and reports on trends, newspapers, magazines,
and progress of Banking of India, government publications, books and website.


Table No. 6.1 Analysis of Branches and ATMs of schedule commercial banks
(As at end March 2017)

SR Name of the Branches ATMs

No. Bank
Rural Semi - Urban Metropolitan Total On-site Off- Total
Urban site
1 2 3 4 5 6 7 8 9 10
Public Sector 29,033 25,647 17,890 18,875 91,445 86,545 62,010 148,555
Nationalised 21,214 18,491 13,460 14,269 67,434 56,960 32,332 89,292
1 Allahabad 1,206 763 648 628 3,245 821 393 1,214
2 Andhra Bank 745 772 668 734 2,919 3,113 816 3,929

3 Bank of 1,811 1,524 922 1,166 5,423 6,296 4,224 10,520

4 Bank of India 1,829 1,455 804 983 5,071 3,483 4,234 7,717

5 Bank of 617 435 343 502 1,897 1,292 586 1,878

6 Canara Bank 1,773 1,937 1,141 1,241 6,092 5,391 5,128 10,519

7 Central Bank 1,608 1,349 847 914 4,718 3,481 1,804 5,285
of India
8 Corporation 586 793 521 557 2,457 2,306 863 3,169
9 Dena Bank 573 434 367 409 1,783 1,290 248 1,538
10 Indian Bank 706 732 574 605 2,617 2,617 741 3,358
11 Indian 923 1,000 693 767 3,383 2,705 974 3,679

12 Oriental Bank 557 619 609 597 2,382 2,296 325 2,621
of Commerce
13 Punjab and 554 276 347 327 1,504 1,049 204 1,253
Sind Bank
14 Punjab 2,538 1,682 1,190 1,094 6,504 5,947 4,734 10,681
National Bank
15 Syndicate 1,190 1,092 813 856 3,951 3,571 402 3,973
16 UCO Bank 1,074 821 599 579 3,073 2,201 578 2,779
17 Union Bank 1,243 1,279 846 906 4,274 4,484 3,034 7,518
of India
18 United Bank 778 406 470 358 2,012 1,132 991 2,123
of India
19 Vijaya Bank 470 528 519 513 2,030 1,663 338 2,001

20 IDBI Bank 408 585 503 499 1,995 1,822 1,715 3,537
21 Bhartiya 25 9 36 34 104 - - -
Mahila Bank
State Bank 7,819 7,156 4,430 4,606 24,011 29,585 29,678 59,263
22 State Bank of 462 339 226 289 1,316 1,220 798 2,018
Bikaner and
23 State Bank of 509 603 374 438 1,924 1,793 572 2,365
24 State Bank of 5,962 4,888 3,078 3,239 17,167 23,161 27,027 50,188
25 State Bank of 318 255 228 273 1,074 1,096 330 1,426
26 State Bank of 456 346 313 228 1,343 1,183 344 1,527
27 State Bank of 112 725 211 139 1,187 1,132 607 1,739

Table No. 6.2 Branches and ATMs of Private sector banks
(As at end March 2017)

Sr. Name of the Branches ATMs

No. Bank
Rural Semi - Urban Metropolitan Total On-site Off- Total
Urban site
1 2 3 4 5 6 7 8 9 10
Private 4,822 7,803 5,158 6,878 24,661 23,045 35,788 58,833
Sector Banks
1 Axis Bank 542 955 779 1,023 3,299 3,209 10,954 14,163
2 Bandhan 275 209 227 129 840 282 - 282
Bank Ltd.
3 Catholic 44 229 88 65 426 205 58 263
Syrian Bank
4 City Union 78 224 112 137 551 805 681 1,486
Bank Ltd.
5 DCB Bank 56 66 55 87 264 217 298 515
6 Dhanalakshmi 20 108 67 71 266 199 172 371
Bank Ltd.
7 Federal Bank 153 683 211 194 1,241 1,151 516 1,667
8 HDFC Bank 962 1,509 909 1,332 4,712 5,791 6,469 12,260
9 ICICI Bank 979 1,444 987 1,440 4,850 4,988 8,894 13,882
10 IDFC Bank 20 23 13 21 77 20 1 21
11 IndusInd 252 258 320 381 1,211 874 1,162 2,036
Bank Ltd.

12 Jammu and 450 156 98 162 866 640 456 1,096
Bank Ltd.
13 Karnataka 162 180 209 217 768 549 831 1,380
Bank Ltd.
14 Karur Vysya 103 266 152 190 711 763 984 1,747
Bank Ltd.
15 Kotak 197 280 287 605 1,369 971 1,192 2,163
Bank Ltd.
16 Lakshmi 99 142 111 128 480 362 596 958
Vilas Bank
17 Nainital Bank 33 32 37 31 133 - - -
18 RBL Bank 50 68 41 81 240 150 225 375
19 South Indian 96 425 159 170 850 763 557 1,320
Bank Ltd.
20 Tamilnad 106 246 79 75 506 443 620 1,063
Bank Ltd.
21 Yes Bank 145 300 217 339 1,001 663 1,122 1,785

Table No. 6.3 Branches and ATMs of foreign banks
(As at end March 2017)

Sr. Name of the Branches ATMs

No. Bank
Rural Semi - Urban Metro- Total On-site Off- Total
Urban politan site
1 2 3 4 5 6 7 8 9 10
Foreign Banks 9 9 39 231 288 219 747 966
1 AB Bank - - - 1 1 - - -
2 Abu Dhabi - - - 2 2 - - -
3 American - - - 1 1 - - -
Banking Corp.
4 American - - - - - - - -
Express Bank
5 Australia and 1 - 1 1 3 - - -
New Zealand
Banking Group
6 Bank of - - - 4 4 - - -
7 Bank of - 1 - 3 4 - - -
Bahrain and
Kuwait B.S.C.
8 Bank of Ceylon - - - 1 1 - - -

9 Bank of Nova - - - 3 3 - - -


10 Barclays Bank 1 1 4 6 - - -
11 BNP Paribas - - - 8 8 - - -

12 Citibank N.A. - - 7 33 40 54 503 557

13 Commonwealth - - - 1 1 - - -
Bank of
14 Cooperative - - - 1 1 - - -
Rabobank U.A.
15 Credit Agricole - - - 5 5 - - -
Corporate and
16 Credit Suisse - - - 1 1 - - -
17 CTBC Bank - 1 - 1 2 - - -
Co. Ltd.
18 DBS Bank Ltd. 2 4 - 6 12 5 25 30

19 Deutsche Bank 1 - 5 11 17 13 19 32
20 Doha Bank Qsc - - 1 2 3 - - -

21 First Abu - - - 1 1 - - -
Dhabi Bank
22 Firstrand Bank - - - 1 1 - - -
23 Hongkong and - - 4 22 26 44 54 98
Banking Corpn.
24 HSBC Bank - - - - - - - -

25 Industrial and - - - 1 1 - - -
Bank of China

26 Industrial Bank - - - 1 1 - - -
of Korea
27 JP Morgan 2 - - 2 4 - - -
Chase Bank
28 JSC VTB Bank - - - 1 1 - - -

29 KBC Bank Nv - - - - - - - -

30 KEB Hana - - - 1 1 - - -
31 Krung Thai - - - 1 1 - - -
Bank Public
32 Mashreq Bank - - - 1 1 - - -
33 Mizuho Bank - 1 - 4 5 - - -
34 National - - - 1 1 - - -
Australia Bank
35 PT Bank - - - 1 1 - - -
Indonesia Tbk
36 Qatar National - - - - - - - -
Bank Saq
37 Sberbank - - - 1 1 - - -
38 SBM Bank - - - 4 4 - - -
39 Shinhan Bank 1 - - 5 6 - - -

40 Societe - 1 - 2 3 - - -

41 Sonali Bank - - 1 1 2 - - -
42 Standard 1 - 18 81 100 103 146 249
Chartered Bank
43 Sumitomo - - - 2 2 - - -
Mitsui Banking
44 The Bank of 1 - - 4 5 - - -
Mitsubishi UFJ
45 The Royal - - - 1 1 - - -
Bank of
Scotland Plc
46 UBS A.G. - - - - - - - -
47 United - - - 1 1 - - -
Overseas Bank
48 Westpac - - - 1 1 - - -
49 Woori Bank - - 1 1 2 - - -

Table No. 6.4 ATMs of schedule commercial banks
(As at end March 2017)

SR Bank On site off site Total

no Group ATMs ATMs ATMS

1 public sector banks 86,545 62,010 148,555

2 private sector banks 23,045 35,788 58,833

3 foreign banks 219 747 966

4 All SCBs 109,809 98,545 208,354

On Comparing the number of off-site and on-site ATM installed, it has been noted that
public sector banks have largest number of on-site ATMs & off-site ATMs. While foreign sector banks
have less number of on-site ATMs& off site ATMs Further, private sector banks have more offsite ATMs
than on-site ATMs in all the financial area.

Public sector banks provided more ATMs to the customers. ATM service of Public sector
Banks is better than the private sector banks & foreign banks.

Table No. 6.5 Bank branches of schedule commercial bank by population wise
(As at end march 2017)

Bank Group Rural Semi-Urban Urban Metropolitan Total

Public sector 29033 25647 17890 18875 91445

Private 4822 7803 5158 6878 24661
sector banks
Foreign 9 9 39 231 288
All SCBs 33864 33459 23087 25984 116394

Public sector banks have more ATMs in rural areas less ATMs in urban areas. Private
sector banks have more ATMs in semi urban areas and less ATMs in rural areas. Foreign banks have more
ATMs in metropolitan areas. Public sector banks have more ATMs while private sector banks following
the public sector banks. Foreign banks are far behind the public sector banks and private sector banks.

Table No. 6.6 Percentage share of ATMs of SCBs Centre

SR Bank Rural Semi Urban Metropolitan

NO Group Urban

1 Public sector banks 19.7 28.3 28.9 23.1

2 Private sector banks 8.4 23.6 26.2 41.8

3 foreign banks 1.6 1.8 18.9 77.7

4 Total 16.4 26.8 28.1 28.7

Chart No. 6.1 Percentage share of ATMs of SCBs Centre

Public sector banks have their ATMs in all area approximate 29 %. Private sector banks
have more ATMs in metropolitan area followed by urban area. In metropolitan area foreign banks have
more ATMs then urban area.

Foreign banks & private sector banks have more concentrate on metropolitan and urban area.
Public sector banks work in almost all area.

Table No. 6.7 Trends in Non-performing Assets Bank group wise
(As at end March 2017)

SR Bank Year

NO group 2015-16 2016-17

1 public sector banks 3,204 3831

2 private sector banks 267 478

3 foreign banks 28 21

4 All SCBs 3498 4331

In 2016-17 public sector banks have more Non-performing assets as compared to 2015-
16 year. Same as to private sector banks. Foreign banks have more non-performing assets in 2015-16 as
compared to 2016-17 year. Public sector banks and private sector banks are failed to decrease their non-
performing assets.

Table No. 6.8 Sector wise NPAs of Banks Priority & Non-priority Sector
(As at end March- 2017)

SR Bank Priority Non-Priority

NO Group 2016 2017 2016 2017

1 public sector banks 25.5 24.1 74.5 75.9

2 private sector banks 21 18 79 82

3 foreign banks 14.3 17.8 85 82

4 All SCBs 24.8 23.3 75.2 76.7

NPAs of public sector banks have decrease in 2017 in priority sector & increase in 2017 in
Non-priority sector. Private sector banks have high NPAs in non-priority sector in 2017 and less in priority
sector. Foreign banks have high NPS in non-priority sector and less in priority sector.
Non-priority sector have high NPAs its affect the profitability of the banks. Banks have failed to decrease
the NPAs of Non-priority sector.

Table No. 6.9 Resources raised by banks through private placement
(As at end March-2017)

Year 2015-16 2016-17

category No of issues Amt Raised No ofissues Amt raised

public sector banks 22 252 48 466

private sector banks 13 165 18 430

total 35 417 66 896

Banks raised resources mostly through private placements to augment their resources
required for provisioning, while public issues were negligible. The higher number of private placements
during 2016-17 also reflected banks’ capital planning efforts to meet the capital requirements and to
mitigate any concerns about potential stress on their asset quality

Table No. 6.10 Public issues by the banking sector
(As at end March 2017)

Public Sector private sector Total

year equity debt equity debt Equity debt

2015-16 - - - - - -
2016-17 11 - 25 - 36 -

Banks raised resources through the public issues i.e. equity fund. The higher number of
equity fund is raise in private sector in 2016-17. The equity fund raised by public sector is less than the
private sector. It is required to meet the capital requirement of the banks.



1. Banking sector is well developed is last decade.

2. There is more a technology innovations are in banking sector like ATM, Debit card, NEFT etc.

3. The share of public sector bank is in technological areas means the ATMs of public sector banks are
more than the private and foreign banks.

4. After a 20 years of liberalization and privatization private sector and foreign sector banks has not
succeed to increase the market share.

5. Non-priority sector has high NPAs in all sectors its affect the profitability of the banks. All sector
banks has failed to decrease the NPAs of Non-priority sector


1. Private sector banks should have to increase their share in all areas to avoid the customers’ difficulties.

2. All sector banks must have to use more technology for a better service to their customer.

3. All sector banks should have to decrease their NPAs to improve the profitability.



Indian banking sector are improving rapidly in last two decades. The banking sector has a more new
innovations like ATM, debit card, NEFT etc. This innovations helps the people to make the transactions
easy. Banks are also improves their productivity by using the various technology. Technology helps the
banking sector to provide the better services to their customers. In now a days its big deal to satisfy the
customer but the banks are trying to maintain a customer relationships. On the view of market share there
was private sector banks are fail to capture the large market share even if the privatization has taken place
before 20 years in India. Productivity and Profitability is more important in any business but the all sector
banks has high NPAs its affect the bank’s profitability.


 Research  International journal of advance research in computer science &
paper- management studies. - Seema Malik.

 An essay on banking & macroeconomics role of public sector banks in

India - Chran Singh.

 Fundamental analysis of selected public and private sector banks in

India. - Amanjot Kaur Sodhi, Simran Waraich.

 Report and trend and progress of banking in India 2016-2017.

 Publications-
- Publication of RBI.

 Journal of Business and Financial Affairs.

 Journal-
 India Brand Equity Foundation journal.

 www.ibef.org
 Website-
 www.ijrcsms.com

 www.rbi.gov.in