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Final Project

This document contains a student's declaration for their project report on HDFC online banking submitted for their B.Com degree. The student declares that the project work is their original work and has not been submitted elsewhere. The supervisor certifies that the project report was completed under their supervision and guidance. The student acknowledges the support and guidance of their supervisor. The document also includes a table of contents that outlines the structure and sections of the project report.

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Dishan Aich Official
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116 views

Final Project

This document contains a student's declaration for their project report on HDFC online banking submitted for their B.Com degree. The student declares that the project work is their original work and has not been submitted elsewhere. The supervisor certifies that the project report was completed under their supervision and guidance. The student acknowledges the support and guidance of their supervisor. The document also includes a table of contents that outlines the structure and sections of the project report.

Uploaded by

Dishan Aich Official
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Student’s Declaration

I hereby declare that the Project Work with the title A PROJECT
REPORT ON HDFC ONLINE BANKING submitted by me for the
partial fulfillment of the degree of B.Com. (Honours) in Accounting &
Finance under the University of Calcutta is my original work and has not
been submitted earlier to any other University/Institution for the
fulfillment of the requirement for any course of study.

I also declare that no chapter of this manuscript


in whole or in part has been incorporated in this report from any earlier
work done by others or by me. However, extracts of any literature which
has been used for this report has been duly acknowledge providing
details of such literature in the references

Signature
Place: KOLKATA Name: Dishan Aich
Date: Address: 10 Borodasarani Haridevpur KOL-82

C.U. Regn. No.: 544-1111-1401-20


C.U. Roll No.: 201544-21-0075
College Roll No.: CH-232
Supervisor’s Certificate

This is to certify that DISHAN AICH, a student of B.Com. (Honours) in


Accounting & Finance of Vivekananda College, Thakurpukur under the
University of Calcutta has worked under my supervision and guidance
for his Project Work and prepared a Project Report with the title A
STUDY OF HDFC ONLINE BANKING. .

The project report, which he is submitting, is his genuine and original


work to the best of my knowledge.

Place: KOLKATA Signature: PROF. SUMI KARMAKAR


Date: Name: Prof. SUMI KARMAKAR

Name of the college: VIVEKANANDA


COLLEGE, Thakurpukur,

Kolkata - 700063
ACKNOWLEDGEMENT

I convey my heartfelt appreciation to Prof. SUMI KARMAKAR whose


cordial and active supervision the project could not have come into
light. I also extend my thanks to all other teachers of my college for
their commendable efforts to bring out this project in a very short span
of time.

Again I am thankful to Prof. SUMI KARMAKAR for reposing confidence


on me to write on this dynamic subject and share his vast knowledge
for the completion of this project.

Moreover, I am also thankful to all other learned members of my


college for valuable suggestions regarding the project.

My sincere thanks to Dr.Tapan Kumar Poddar, Principal of Vivekananda


College, for giving me this opportunity to carry out this project.

Date:

(Signature of the student)


TABLE OF CONTENTS

CONTENTS PAGE
NOS.
INTRODUCTION OF E-BANKING
SIGNIFICANCE, BENEFITS AND
OBJECTIVE

FEATURES

TYPES OF ONLINE BANKING

ONLINE BANKING IN INDIA-


GUIDELINE BY RBI

E-BANKING OF HDFC BANKING

HISTORY OF HDFC BANKING

FACILITY OF HBFC BANK IN E-


BANKING

BENEFITS OF HDFC E-BANKING

IMPORTANT SAFETY TIPS BY


HDFC BANK

DOWNSIDES OF E-BANKING

CONCLUSION

BIBLIOGRAPHY
INTRODUCTION: - Electronic banking is a form of banking in which funds are
transferred through an exchange of electronic signals rather than through an exchange of
cash, checks, or other types of paper documents. Transfers of funds occur between
financial institutions such as banks and credit unions. They also occur between financial
institutions and commercial institutions such as stores. Whenever someone withdraws
cash from an automated teller machine (ATM) or pays for groceries using a debit
card (which draws the amount owed to the store from a savings or checking account), the
funds are transferred via electronic banking. First conceptualized in the mid-1970s, some
banks offered customers electronic banking in 1985. However, the lack of Internet users,
and costs associated with using online banking, stunted growth. The Internet explosion in
the late1990s made people more comfortable with making transactions over the web.
Despite the dotcom crash, ebanking grew alongside the Internet. Online banking (or
internet banking or E-banking) allows customers of a financial institution to conduct
financial transactions on a secure website operated by the institution, which can be a
retail or virtual bank, credit union or building society. Online banking is the practice of
making bank transactions or paying bills via the Internet. Thanks to technology, and the
Internet in particular, people no longer have to leave the house to shop, communicate, or
even do their banking. Online banking allows a customer to make deposits, withdrawals,
and pay bills all with the click of a mouse.

HISTORY:- While financial institutions took steps to implement e-banking services


in the mid-1990s, many consumers were hesitant to conduct monetary transactions over
the web. It took widespread adoption of electronic commerce, based on trailblazing
companies such as America Online, Amazon.com and eBay, to make the idea of paying
for items online widespread. By 2000, 80 percent of U.S. banks offered e-banking.
Customer use grew slowly. At Bank of America, for example, it took 10 years to acquire
2 million e-banking customers. However, a significant cultural change took place after
the Y2K scare ended. In 2001, Bank of America became the first bank to top 3 million
online banking customers, more than 20 percent of its customer base. In comparison,
larger national institutions, such as Citigroup claimed 2.2 million online relationships
globally, while J.P. Morgan Chase estimated it had more than 750,000 online banking
customers. Wells Fargo had 2.5 million online banking customers, including small
businesses. Online customers proved more loyal and profitable than regular customers. In
October 2001, Bank of America customers executed a record 3.1 million electronic bill
payments, totaling more than $1 billion. In 2009, a report by Gartner Group estimated
that 47 percent of U.S. adults and 30 percent in the United Kingdom bank online.
SIGNIFICANCE: - Customers who use e-banking tend to be more profitable, loyal,
and willing to refer their bank to friends and family than do traditional banking
customers. Online customers also maintain higher balances, require less customer support
and have lower attrition rates than offline consumers. Online banking customers who use
online bill pay and e-bill services are happier with their banks, which translate into
deepened relationships.

BENEFITS:- E-banking offers consumers and organizations many benefits, including


24/7 access to accounts and services. As financial institutions continue to develop online
banking, customers are using more services, such as bill payment across industries,
money transfer and mobile e-banking using cell phones and hand-held devices. While a
number of industry and governmental forces are combining to fight Internet fraud,
financial institutions continue to invest heavily in online services. The benefits are too
great to turn back, despite worries about security. Active online banking users not only
show greater loyalty to their bank, but they almost always carry higher balances. In an
age where even the largest financial institutions are willing to fight for every single
customer, these benefits are huge.

OBJECTIVE:-
The main objectives of the study are

❖ To understand the genesis and concept of Online-Banking.

❖ To analyse the importance, functions, advantages and limitations of Online-Banking.

❖ To explain the different form of Online-Banking and to analyse the rules & regulation
regarding Online-Banking guided by RBI.

❖ To highlighting on the security problems of Online-Banking and how to reduce the


security issues with the help of security control tools.

❖ To analyse the trend of Online-Banking with the help of primary data.

❖ To analyse the present e-banking scenario concerned with ATM, Internet banking,
Mobile banking, credit card-debit card, fund transfer and other e-banking services.

❖ To examine the impact of ATM, Internet banking, Mobile banking and Credit cards on
customer satisfaction by analysing the problems faced by the customers.
Online banking facilities offered by various financial institutions have many features and
capabilities in common, but also have some that are application specific. The common
features fall broadly into several categories:

(A). A bank customer can perform non-transactional tasks through online banking,
including –

I. Viewing account balances

II. Viewing recent transactions.

III. Downloading bank statements, for example in PDF format.

IV. Viewing images of paid cheques.

V. Ordering cheque books.

VI. Download periodic account statements.

VII. Downloading applications for M-banking, E-banking etc.

(B). Bank customers can transact banking tasks through online banking, including –

I. Funds transfers between the customer's linked accounts.

II. Paying third parties, including bill payments ( e.g., BPAY)


and third party fund transfers (e.g., FAST).

III. Investment purchase or sale.

IV. Loan applications and transactions, such as repayments of


enrolments.

V. Credit card applications.

VI. Register utility billers and make bill payments.

VII. Financial institution administration.

VIII. Management of multiple users having varying levels of authority.

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