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The Usage of E-Banking Technology by Industrial Employees at Dhanlaxmi Bank in Mysuru

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The Usage of E-Banking Technology by Industrial Employees at Dhanlaxmi Bank in Mysuru International Journal of Mechanical Engineering and Technology (IJMET) Volume 9, Issue 1, January 2018, pp. 905–914 Article ID: IJMET_09_01_099 Available online at http://iaeme.com/Home/issue/IJMET?Volume=9&Issue=1 ISSN Print: 0976-6340 and ISSN Online: 0976-6359 © IAEME Publication Scopus Indexed THE USAGE OF E-BANKING TECHNOLOGY BY INDUSTRIAL EMPLOYEES AT DHANLAXMI BANK IN MYSURU Aashish.C.I Professor, Department of Management & Commerce Amrita School of Arts and Sciences, Mysuru Amrita Vishwa Vidyapeetham, Karnataka, India Madesh. H.R Department of Management & Commerce Amrita School of Arts and Sciences, Mysuru Amrita Vishwa Vidyapeetham, Karnataka, India ABSTRACT Electronic Banking refers to providing of banking product and services through electronic delivery channels. E-Banking comes under service industries. E-banking provides a larger usage of technology base system particularly those associated with the web. This allows banks to understand the fundamental changes in how banks interact with customers. E-Banking permits the clients, for those who have personal computer with internet access. It allows their customers to do the banking activities all over the world at their fingertips at any point of time. Customers need not visit the bank branches for their transactions. It facilitates various services like cheque book request, online loan facilities, balance enquiry, fund transfers etc. Emergence of e- banking has enabled the banks to supply real time dealings and integrate all customers connected functions. E-Banking has vital growth in several countries and incorporates amendments. E-Banking channel has provided competitive advantage to the banks. It helps the banks to satisfy the increasing requirements of customers effectively and efficiently. The data analysis shows that significant factors that decides the usage of e-banking services by industrial employee. The impact of E-Banking is rapidly growing with the technology. This research throws light on how the industrial employees are aware about usage of E-banking services provided by Dhanlaxmi Bank at Mysuru. For this study 50 industrial employees were selected as sample size. The data were collected from the employees using questionnaires and the analysis was made to study the industrial employees usage of e-banking, correlation between usage of e-Banking and industrial employees and also the frequency of usage. For analysis purpose hypothesis was framed initially followed by Karl Pearson’s and chi square methods were used. http://iaeme.com/Home/journal/IJMET 905 [email protected] Madesh. H.R and Aashish.C.I Key words: E-Banking, Technology, Industrial employees, Awareness. Cite this Article: The Usage of E-Banking Technology by Industrial Employees at Dhanlaxmi Bank In Mysuru, Madesh. H.R and Aashish.C.I, International Journal of Mechanical Engineering and Technology 9(1), 2018. pp. 905–914. http://iaeme.com/Home/issue/IJMET?Volume=9&Issue=1 1. INTRODUCTION Bank is a financial institution, which provides financial services to customers. The basic function of the bank is to accept deposit from customer and lending money back to customer on their demand. It involves the activities of lending loan for various activities of customer such as housing loan, vehicle loan, personal loan, business loan, gold loan by charging interest and accepts the fixed deposits. The study is focused towards the customer who are segmented to industries. The usage of these services are prevalently seen in the regular customers, but the industrial employees are reluctant to use the facilities, may be because of their awareness factor, and also due to their literacy level. Bank provides various types of accounts such as savings account, current account and recurring account fixed deposit account. Savings account and recurring account can be opened by individual. Current account can be opened by trading people. Bank acts like a bridge between business and consumers. Importance of banking 1. Encourages savings 2. Money transfer 3. Overdraft facilities 4. Collection of savings and advancing loans 5. Discounting bill of exchange 6. Financing internal and external trade 7. E-Banking Electronic banking is called as E-banking also known as online banking. E-Banking is a method of doing transactions through electronic via internet. E-banking is easy, safe, fast and efficient electronic service that provides access to customer to do the transaction through online 24hours/7days in a week for 365days in a year. E-Banking provides banking services to customer at anywhere and at anytime, there is no limitation of place and no limitation of time. The transaction types are fund transfer, administrative transaction, account statement and enquiry. Customer need not visit the bank for their banking activities, all activities can be done through E-banking. This technology enables the customer to order cheque book, stop payment on a cheque, statements, buying and selling of shares, apply for loans, advice change of address and other routine activities. To access the E-Banking facility customer need to register with banking service, and set up a password for their security purpose. Advantages of E-Banking 1. Provides privacy to customer. 2. Saves time and money. 3. Provides banking services throughout the year 24/7 4. Reduces paper work 5. Easy to access http://iaeme.com/Home/journal/IJMET 906 [email protected] The Usage of E-Banking Technology by Industrial Employees at Dhanlaxmi Bank In Mysuru 2. DIFFERENT TYPES OF E-BANKING SERVICES PROVIDES BY BANKS 1. Internet Banking Internet banking is a retail banking which facilitates customers to operate their account from anywhere and anytime. Internet Banking provide Fund Transfer, bill payments, request issue of demand draft, credit PPF account, online bill payments, request For loan, online ticket booking, online share trading, LIC premium payments, online donation payment of taxes etc. 2. NEFT/RTGS National Electronic Fund Transfer(NEFT) system and Real Time Gross Settlement (RTGS) System which ensures an effective service, economical and reliable system of transfer of funds from one account to another account as well as from remitter’s in a particular bank to beneficiary’s bank account in another bank across the country. It is highly useful to customers to transfer funds from one bank branch to another branch which is quick and simple. 3. Automated Teller Machine Automated Teller Machine (ATM) is a very popular service in the current scenario. The Automated Teller Machine is an effective delivery channel, which plays a vital role in consumer satisfaction and cost control of transaction of banks. ATMs are emerging as the most useful tool to ensure “Any time Banking” or Any Time Money. ATM card is magnetic stripe card which operates with particular PIN Number. ATM card is used for balance enquiry, Cash withdrawal Fast cash Updating of cash book, utility bill payments etc. Recently the advanced ATM the cash can also be deposited. 4. Mobile Banking Mobile banking is a system that make easy to perform a number of financial transaction through mobile device such as immediate payments service (IMPS), DTH and mobile recharge, bill payments and E-shopping etc. 5. SMS Banking SMS banking service is providing with the help of mobile phone of the customers. It offers balance enquiry, alert for password generations, last three transactions statements, cheque status etc. 6. Cards Facility Banks provides debit cards and credit cards facility. Customer can swiping the card wherever there is a provision for point of sale (POS) machines. Through these debit and credit cards customer can purchase, can make electronic transaction, and also can pay bills. There will be interest rate applicable for the credit card holders. 7. Telephone Banking Bank provides this telephone banking service with the help of telephone to customer’s. This services is provided with secure ID and Telephone Personal Identification Number (TPIN) number. Telephone banking provides balance enquiry, cheque status enquiry, stop payment of cheque, change of TPIN service. http://iaeme.com/Home/journal/IJMET 907 [email protected] Madesh. H.R and Aashish.C.I 8. KIOSK Machine KIOSK machine is the recent service provided by the banks for their customers. Which facilitates for passbook printing without any support of bank staff. Objectives: 1. To study the usage of E-Banking by industrial employees. 2. To study the correlation between Industrial employees and usage of E-banking. 3. To understand the frequency of usage of E-Banking by industrial employees. 3. ANALYSIS Calculation of usage of E-Banking among industrial employees Options Values Yes 35 No 15 H0: 70% of industrial employees are not using E-banking provided by Dhanlaxmi bank H1: 70% of industrial employees are using E-banking provided by Dhanlaxmi bank Expected frequency= total frequency/total number 50/2=25 Chi-square = sigma (Oi-Ei)/Ei = [(35-252/25) + (15-252/25)] = 4+4 Calculated value = 8 Degree of freedom= (n-1) (2-1)= 1 Alpha value=0.05 Table value=3.841 Usage of E-banking 30% using not using 70% Interpretation The above pie chart shows that the usage of e-Banking by industrial employees. This pie chart tells that out of 50employees 35 employees are accessing e-Banking technology and out of 50 industrial employees 15 employees are not using e-Banking service, it means 70% of http://iaeme.com/Home/journal/IJMET 908 [email protected] The Usage of E-Banking Technology by Industrial Employees at Dhanlaxmi Bank In Mysuru industrial employees are using
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