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STUDY ON CONSUMER’S PERCEPTION TOWARDS NET


BANKING SERVICES OF AXIS BANK

MASTER OF BUSINESS ADMINISTRATION

SUBMITTED BY: Vikash Garg


Roll No. 1820982593
INTERNET BANKING

“Internet banking is the provision of banking & related service through extensive use of information
technology without direct users to the bank by the consumers.”
Internet banking system allows individuals to perform banking at home via internet. Internet
banking transaction states that customers use the internet to get their personal or business bank
accounts online anytime & to undertake banking transactions through the use of bank’ website
without inconvenience. Internet banking allows customers to do their banking transactions anytime
& providing continuous control over their accounts

Types of Internet
Banking

Transactional internet Communicative Informational internet


banking internet banking banking
 Transactional internet banking
It is the most popular type & it includes full control over customer accounts such as deposits, withdrawals, transfers, online
payments & updates.
 Communicative internet banking
It allows interaction between the bank system &customers. The communication is restricted to e-mail account, inquiry loan
application & static file updates name &address. However, fund transfer is not included in this type of internet banking.
 Informational internet banking
It means that the bank provides main information about bank’s products & services.

ADVANTAGE OF INTERNET BANKING FOR CUSTOMERS

 Speed of banking transaction.

 Minimize the use of traditional branch banking.

 Reduce cost of physical branch banking.

 Raised attainability & time saving banking processing can be made all hours a day.
CONSUMER BEHAVIOR WITH INTERNET BANKING

The ultimate goal of any organization is generation of profits with customer satisfaction. A satisfied customer
will come back & refer the internet banking services to other as well, generating more sales& more profits.
Consumer behavior, perception& satisfaction is considered as necessary condition for customer retention&
loyalty.
But adopting internet banking doesn’t ensure a bank competitive edge over its competitors. They have to
understand consumer behavior of internet banking in deciding the right marketing strategies & developing
new marketing strategies. Thus the study concentrates on finding out who the users of internet banking, how
they use it & which type of services they preferred on internet banking.

BACKGROUND OF THE STUDY

In this study, I got information about bank, consumers’ behavior, perception& attitude towards internet
banking services of Axis bank. I got information through structured questionnaire & got responses from the
respondents.
On the basis of this information I will conclude about perception of consumers & finding factors like safety
&security, convenience, easy accessibility, time& cost saving etc. which affecting decision regarding internet
services of Axis bank. The study will also help to the bank to take necessary steps for understand the behavior
of consumers & improving their services of internet
SWOT ANALYSIS

Strength

 Axis bank has been given the rating as one of best three positions as far as speediest development in private division
bank.

 The bank has its presence in 1139 cities and towns.

 The bank has a network of 4,050 branches and 11,801 ATMs.

 The banks financial positions grow at a rate of 20% every year which a is, major positive sign for any bank.

Weakness

 Lesser no. of branches compared to its competitors.

 Image of the bank still under the shadow of the UTI debacle.

Opportunity

 Expansion in rural areas of Going to foreign markets and exploring the new economies.
Threats

 New banking licenses issued by the Reserve Bank of India to Foreign banks of Competitors.

PROBLEM STATEMENT
Title of the research is “A study on Consumer’s Perception towards Net Banking services of Axis Bank”
In this study the main problems are identifying that,
 Why consumers are not using internet services of Axis bank?
 What kind of behavior, perception, attitudes & beliefs of consumers towards internet banking services of Axis bank?
OBJECTIVES OF RESEARCH

 To study various factors affecting consumer behavior towards internet banking services.

 To study consumer’s perception towards internet banking services provided by Axis Bank.

 To analyze attitude and beliefs of consumers towards the choice of internet banking services.

 To study the most preferred internet banking service offered by Axis Bank.

 To study the role of internet banking as compared to traditional banking.


RESEARCH METHODOLOGY

Research Design
Exploratory Research as it explores the research through the questionnaire.
Individual Contact method was used for the Research purpose
Primary data was adopted in the study for the collection of the most accurate information. Primary data
was gathered using the questionnaire.
Sample Area -Axis Branch Khanna
Sample Size -108
FINDING

 Most of the male & younger age group who are Student & self-employed respondents are giving more
responses.

 29% & 35% respondents are using internet for paying bills & transfer their money.

 The major factors are affecting consumer attitudes towards using internet banking services are the
saving time, 24 hrs easy accessibility.

 Majorly service provider (bank) is more influencing for choice in starting use of internet banking
services.

 There are main two reasons-lack of human contact & lack of knowledge about internet banking for
consumers who are not using internet banking services.

 Mostly consumers are using internet banking services on weekly basis.


SUGGESTIONS

 Banks should ensure that online banking is safe and secure for financial transaction like as
traditional banking.

 Banks should organize Seminar & Conference to educate the customer regarding the uses of online
banking as well as security and privacy of their accounts.

 Some elder customers are hindered by lack of computer skills. They need to be educated on basic
skills require to conduct online banking.

 Banks must empathize the convenience that online banking can provide to elder people, such as
avoiding a long queue, in order to motivate them to use it.

 Banks must empathize the cost saving that online can provide to the elder people, such as reduce
transaction cost like Cashback by the use of online banking.
CONCLUSION
The primary purpose of doing this study was to understand consumer behavior towards internet banking
services of Axis Bank in Khanna city. In the study, it has been found that most of people prefer internet
banking services such as ATM & checking bank statement of Axis bank.
According my research, I found that factors plays biggest role for using internet banking services are saving
time & 24 hrs accessibility of Axis bank. Company is required to create awareness of internet banking services
through digital channels particularly in Khanna City as one of the major factor that is lack of awareness about
services has been also found form the study. Company should also provide customer support executives with
low cost services.

LIMITATION OF THE STUDY

 The present study has covered Khanna city only due to limitation of time.

 Biased responses can be possible due to human contact.

 Sometimes respondents were not ready to give response because of time constraint.

 The sample size of the study is very small due to cost and time constraints
DETAILS OF ACTUAL WORK DONE

I did my two months of internship program in Axis Bank Khanna branch. I got the opportunity to work in
different department of the branch. I found myself very fortunate for being able to associate with one of the
renowned banks in India. My work was to work with them as a helping hand and learn how to do that work
properly.

INTERNSHIP POSITION, DUTIES AND RESPONSIBILITIES

The report has been prepared on the basis of experience gathered during the period of internship. Within this
period, I mainly worked with department namely General Banking, Accounts department.

CUSTOMER SERVICE DEPARTMENT

In this department, I started my work learning how to open a Bank account, how to fill up the customer bank
account opening forms. My immediate supervisor tried to give me a brief description of his regular tasks before
assigning me to any kind of activities. Later on through my personal observation and guidance of the superior
officer, I came to know about different types of account like current account (C/A), savings account (SA),
STD, FDR etc. He also assisted me on how to answer client versatile questions regarding different account
opening, what amount of interest they will get from different types of account.
The following activities which had done by me:

 Giving the customers information regarding what type of documents are required to open an account. I used
to tell them they need two copies of their PP size photographs and 1 copy PP size photograph of the
nominee. They are also required to submit the photocopy of their passport/national ID card/TIN papers.

 Discuss with the customers who want to open a bank account. Collect all the documents from the customers
like two copy passport size photo, National ID card, and electricity bill, Job ID card for office employees or
Trade License for business person. Verify the National ID card of the customers and do Sanction Screening.

 Making phone calls for collecting necessary photographs, photocopy of National ID cards or any other
requires.

 Scan papers and send mail to the customers and let them aware about any important news.

 Fill out the vouchers of customers for deposit, clearing cheque and for payment.
ACCOUNTS AND CLEARING DEPARTMENT

Accounts department is a sensitive part of a bank. This department is very busy department. In this
department, tasks of all departments, all departments’ transaction vouchers are maintained. The tasks I
performed in this department are given below:

 Voucher sorting, counting and check the account holder signature, account number so on.

 Debit, credit voucher separation.

 Stamping the cheque in the back and fill out the account number, date and check the signature of the
customer.

 Call those customers whose cheque won’t take place due to Insufficient Fund or Signature Missing. When
the customers arrive receives their signatures in the return register and delivers them the return cheque.
THANK YOU