SYNOPSIS ON POTENTIAL OF INTERNET BANKING IN INDIA

INTRODUCTION:
The financial services, associated with internet, are being promoted due to the wide spread use of internet. Internet banking that is also known as online banking is one of the emerging services. The internet is rapidly turning out to be a tool of worldwide communication. Online banking allows customers or users to conduct financial transactions on a secure website operated by their banks, credit unions or building societies. Online banking has grown rapidly using todays computer technology thereby traditional banking in order to manage finances more quickly and efficiently. Web banking or internet banking is a term used to describe banking transactions that are performed via a secured internet application. Web banking transaction include such things as paying bills, transferring funds, viewing account statements and paying down loans and mortgages.

RESEARCH PROBLEM:
The main problem (To study)- The potential of internet banking in India with the advancement of technology.

RESEARCH OBJECTIVES:
To analyze the rate of growth of e-banking among the users of India. To measure the level of complexities among users during e-banking. To compare the services and support of public bank and private bank.

SCOPE OF STUDY:
By conducting this study we can to examine the consumer behavior with respect to internet banking vis--vis conventional banking, and to explore the possibility of blending these banking systems. The paper also suggests strategies to banks to maximize the value of services to customers.

RESEARCH METHODOLOGY:
Type of research: Descriptive research Type of data: Primary and Secondary data has been used in preparing this report. Mode of data collection: Primary-questionnaire, Secondary internet, annual reports of banks.

LIMITATIONS:
First and foremost is the factor that majorly youth is acquainted with skills to understand the technology and new marketing ways to understand it. Today most of the generation is young but not everyone literate in internet. Another important factor is that these are available but it require initially good amount of investments in purchasing a PC. However this is not at all constrained for mobile users now a day. Absence of a monitoring mechanism apart, online advertising has to live with another hurdle. Many advertisers are not aware of the benefits online advertising can offer over the traditional. Complexities of these websites is the another hurdle that hinders its progress. Many customers complain that they are unable to understand the whole process and its composition.

Research guide: Mr. Vivek Birla

Submitted by: Jai Kabra MBA-2ND YEAR (A) ROLL NO.-1006370040