ISSN 2321 3361 © 2020 IJESC Research Article Volume 10 Issue No.5 Study on E-Banking Services Offered by Banks with Special Reference to Peruvallur Panchayath, Malappuram Dr. Edakkotte Shaji1, Dr. Dhanya Babu. V2 Associate Professor Vice Principal & Head of Post Graduate1, Assistant Professor2 Department of Commerce1, Department of Commerce & Management2 Government Arts and Science College, Calicut, India1 Malabar College of Advanced Studies, Vengar, India2 Abstract: Banks operate in a highly globalized, liberalized, privatized and a competitive environment. Banks use information technology for surviving in this dynamic environment. Today the banking sector faces a huge challenges in providing services to the customers and with the advent of technology banks enables the customers to avail services either from homes and offices, 24 hours a day and 365 days a year through E-banking. E-banking is electronic banking and it refers to the use of electronic devices that facilitate banking transactions. The use of technology which allows customers to access banking services electronically whether it is to pay bills, transfer funds, view accounts or to obtain information and advices. The different type of devices used for E-banking include; smart phones, tablets, computers, ATM’s, POS machines and other devices that are coming up every day. E-banking activity is considered as a the common trend in our country. Gone the days of falling in line in banks, waiting tons of hours, days and weeks . All can be done with one card, one gadget. But still people are having a hard time using it, as they are used to doing things in the old traditional way, people who are illiterate about E-banking and people who don’t have access to E-banking devices and technology. Through advertising, people are now motivated to use E-banking as it eliminates the hassle encountered when using the old process of banking. The concept and scope of E-banking is still evolving. The development in Banking sector offers a higher level of convenience for managing one’s finances. However, it continues to be present challenges to the financial security and personal privacy. The present paper is designed to explore to evaluate the adoption of electronic banking functionality and study the perception of the customers regarding the E-Banking services offered. I. INTRODUCTION and fast manner without any paper money. It also provides an opportunity to move collections to an electronic platform. E-banking is gaining in popularity as an important distribution Automated Teller Machine channel to provide banking services and is an inevitable Known as ATM’s can be seen in every nook and corner of a development in the information age, sound and effective place provides the function of balance enquiries, cash banking system is the backbone of an Economy. The Economy withdrawals, and many other facilities depending upon the of a country can function smoothly and without many hassles policy of the bank. only if the banking system backing it is not only flexible but also capable of meeting the new challenges and opportunities Debit Card posed by the technology and other internal as well as external Debit cards are another advanced E-banking technology. It is a factors. The importance and role of information technology for plastic card which provides the cardholder electronic access to achieving this benign objective cannot be undermined. There is his or her bank account at the financial institutions. Cash an urgent need for not only technology up gradation but also its withdrawal or can be used for easy shopping at various counters. integration with the general way of functioning of banks to give them an edge in respect of services provided to the customers. Credit Card The earlier brick and monarch branch is no longer sufficient; Credit cards a small plastic card issued to users as a system of technology is now taking banks to the homes or offices, 24 payment. provide credit to the customers.., extra charges or interest will be charged if the money borrowed is not paid back hours a day and 365 days a year through ATM’s, phone booking within the grace period of 25-30 days and PC banking. Technology has emerged as a source of achieving higher efficiency, control of operations, productivity Charge Card and profitability for banks as well as it is the realization of their It is a means of obtaining a very short loan for purchases 'anywhere, anytime, anyway, banking dream for customers (usually one month). The balance on a charge card account is payable in full and cannot be rolled over from one billing cycle II. VARIOUS FORMS OF E BANKING INFORMATION to the next. TECHNOLOGY Smart Card Electronic Fund Transfer For storing and retrieving personal information a smart card is Electronic fund transfer commonly known as EFT offers fast used. Contains electronic money and possibly an embedded payments to account holders of other banks in a very efficient integrated circuit. IJESC, May 2020 25542 http:// ijesc.org/ Real Time Gross Settlement (RTGS) • Loss of heavy incomes at times of settlement of higher Real Time Gross Settlement, RTGS is typically used for high magnitude. value transactions, generally above two Lakhs. not subject to any waiting period, the transaction are being settled as soon as Statement of the problem they are processed. Immediate Payment System (IMPS) The development of technology is uplifting the functioning and services of banking sector. The banking industry are being Instant Money Transfer (IMT) forced to change rapidly as a result of open market forces such IMT is an innovative card-less cash withdrawal service. It is a as competition, consumer demand, and technological domestic money remittance service that allows to send money to innovations such as internet banking. In order to retain their anybody with a mobile phone. competitiveness, they must focus on consumer retention. The increasing consumer involvement, banks have to constantly Internet Banking think of innovative customized services to remain competitive. On line banking which is commonly known as internet banking This present study focus on perception of rural customers or web banking Internet banking is the most convenient way to regarding E-banking services in a fast-developing village: do banking with ease and comfort. Peruvallur in Malappuram district. Tele banking Significance of the study By dialling the given Tele banking number through a landline or In India in the recent times most of the banks are providing E- a mobile from anywhere, the customer can access his account banking services but many people hesitate to use E-banking and by following the user-friendly menu, entire banking can be services due to lack of knowledge. By understanding and done through Interactive Voice Response (IVR) system. knowing the E-banking habits among the rural customers, banks can adopt new techniques to improve the outreach of rural E-cheque population in gaining access to E-banking and enable them to It is the electronic version or representation of paper cheque. use this facility with less difficulty in times of emergency or need and to encourage them to access E-banking for a hassle- Immediate payment system free life and thereby increasing transparency in transactions, IMPS Is an instant payment electronic fund transfer system , taking into consideration the above this study is being attempted. facilitating transfer of fund through Mobile phones Objectives of the study Advantages of E-banking • To study the Perception of rural customers residing in E-banking has several advantages over traditional banking Peruvallur Panchayath, Malappuram towards E-banking activities • To study the customer satisfaction while availing the facility Online account is simple to open and easy to operate. There is of E-banking. less chance of error • Helps in quick payment of bills, transfer funds between Scope of the study accounts, etc. The present study is focus on the customer perception to the E- • It is available all the time, i.e. 24x7. You can perform your banking services in Peruvallur Panchayath, Malappuram. and to tasks from anywhere and at any time; even in night when the study the satisfaction in availing the E Banking activity. bank is closed or on holidays. The only thing you need to have is an active internet connection. Research design • It is fast and efficient, funds get transferred from one account A descriptive and analytical study is being undertaken which to the other very fast. includes collection of data from customers of banks selected • Through E-banking, you can keep an eye on your transactions from Peruvallur Panchayath, Malappuram. and account balance all the time. It also acts as a great medium for the banks to endorse their products and services. The Research instrument services include loans, investment options, and many others. The research instrument for this study is a structured • It offers cost saving opportunities for customers. questionnaire for the collection of primary data. The variables included in the questionnaire were identified by referring the Disadvantages of E-banking studies conducted previously. The disadvantages include the following: Sampling • The beginner who is new to e banking activities usually face some difficulty. • E-banking can be accessed only with internet connectivity. The target population is entire customers of Banks who are • Account information might get hacked by unauthorized people using banking facilities in Peruvallur Panchayat, Malappuram. over the internet. • Password security is a must, chance that it can Bemis used by someone who gets to know password inadvertently. The sample size consists of 80 respondents. • Highly dependable on the bank’s server, if is down, it cannot be used. • cause to break down of system in case of power failure. Judgemental sampling was adopted for the study. IJESC, May 2020 25543 http:// ijesc.org/ • Inclusion criteria 1.