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DECLARATION

We Sujeet Mahato, Shashank Singh, Biplav kc, Moh ! A i" hereby declare that the project

report entitled “ A Stu # on Mo"ile Banking Se$vices %ith speci&ic $e&e$ence to State Bank o&

In ia, Manipal B$anch' . Under guidance of M$! (ik$a) Baliga submitted for the requirement

of a degree programme of “ Manipal *nive$sit# ” is our original work.

Any literature, data or works done by others and cited within this dissertation has been gi en due

acknowledgement and listed in the reference section. !his work is original and it is not sent for publication.

"ame# $ujeet %ahato &ate# '(.)'.*)('

$hashank $ingh +lace# %anipal

ipla kc

%ohd. Adib

+ + a g e

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AC-NO.LED/EMENT

We e-tend our special thanks to all those people without whom it would not be possible for us to

complete our project report. We e-press our sincere thanks to our project guide MR! (I-RAM

BALI/A who had guided us throughout our project.

We would also thankful to Miss! (ASANT0I RAT0NA-AR 1BRANC0 MANA/ER,

STATE BAN- O2 INDIA, Manipal B$anch3 for gi ing us the opportunity to work on this

project. We con ey our heart full thanks to the Miss! RAN4ANA 5RASAD and the staff

members of $!A! A"/ 01 2"&2A %A"2+A3 4A"56 for their help and corporation.

3ast but not the least we are thankful to our parents and friends who ha e pro ided us with their

constant support throughout this project.

"ame# $ujeet %ahato &ate# '(.)'.*)('

$hashank $ingh +lace# %anipal

ipla kc

%ohd. Adib

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5RE2ACE

!he professional training is the internal part of a % programme. 2t helps the studentunderstand practical aspects of usiness %anagement in a better way as a part of our %

programme at %anipal Uni ersity, %anipal. We are supposed to work for the organi7ation.

“2n today world %obile anking is a popular term. %obile anking means a financialtransaction conducted by logging on to a bank8s website using a cell phone, such as iewingaccount balances, making transfers between accounts, or paying bills. 2t is a term used for

performing balance checks, account transactions, payments etc. ia a mobile de ice such as amobile phone. 2n recent time %obile banking is most often performed ia $%$ or the %obile2nternet but can also use special programs called clients downloaded to the mobile de ice”

+erception is the process, by which an indi idual selects, organi7es and interprets informationinputs to create a meaningful picture of the world around as” !o be a achelor of usiness%anagement student is a matter of pride because we are in a field, which help us to de elop froma normal human being into a disciplined, and dedicated professional.”

0ne has to be a good learner to sharper knowledge in the particular field to achie e and attain thedesired goals and heights. We used research questionnaires as the research and data collectiontools. !he responses were collected from ') respondents from arious areas of %A"2+A3.

We had learned lot during our project on “ A Stu # on Mo"ile Banking Se$vices %ith speci&ic$e&e$ence to State Bank o& In ia, Manipal B$anch .” in %A"2+A3.

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CONTENT

S$! no Topic 5age no!

(. 2ntroduction 9:((

*. $ 2 %anipal ranch:An o er iew on %obile anking ((:(;

'. 4e iew of literature (<

=. 4esearch methodology (>:*(

;. &ata analysis and interpretation **:')

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(.( $ample data (9

(.* 4esearch methodology *)

NO!O2 2I/*RES

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'.( %obile banking users (?

'.* %obile banking e-perience inyears

(9

'.' 4easons for using mobile banking

*)

'.= 2s mobile banking secure *(

'.; anking technology ser ices **

'.< !ypes of customer in mobile banking

*'

'.> Age group using mobile

banking

*=

'.? 4ange of ser ices offered inmobile banking and used bycustomers

*;

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Chapte$ +

INTROD*CTION

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MOBILE BAN-IN/ IN INDIA

ABO*T MOBILE BAN-IN/ + a g e

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%odels of branchless banking can beclassified into three broad categories : ank 1ocused, ank:

3ed and "on: ank:3ed.

Bank=&ocuse )o el

!he bank:focused model emerges when a traditional bank uses non:traditional low:costdeli ery

channels to pro ide banking ser ices to its e-isting customers. -amples range from use of

automatic teller machines BA!%sC to internet banking ormobile phone banking to pro ide certain

limited banking ser ices to banksDcustomers. !his model is additi e in nature and may be seen as

a modest e-tensionof con entional branch:based banking

Bank=le )o el

!he bank:led model offers a distinct alternati e to con entional branch:basedbanking in that

customer conducts financial transactions at a whole range of retail agents Bor through mobile

phoneC instead of at bank branches or through bankemployees. !his model promises the potential

to substantially increase the financialser ices outreach by using a different deli ery channel

Bretailers mobile phonesC, adifferent trade partner B!elco 5hain $toreC ha ing e-perience and

target marketdistinct from traditional banks, and may be significantly cheaper than the bank

basedalternati es. !he bank:led model may be implemented by either usingcorrespondent

arrangements or by creating a EF between ank and !elco non:bank.

2n this model customer account relationship rests with the bank.

Non=Bank=le )o el

!he non:bank:led model is where a bank does not come into the picture Be-cept possibly as a

safe:keeper of surplus fundsC and the non:bank Be.g. !elcoC performs all the functions.

!here is no doubt that technology has pro ided a competiti e edge to banks in pro iding quick

solutions to customersD demands. !his has also meant that customer is now in a position to

dictate how businesses should function. As a result, banks keep inno ating and pro ide new

products, ser ices and solutions to attract the customers and lure them to buy or use their

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products. 2n mobile banking itself there are *< ser ices that $ 2 pro ides to its customers. !he

study makes an attempt to understand the utility of these ser ices for the customers of $ 2 bank,

%anipal ranch.

SBI Manipal B$anch=An ove$vie% on Mo"ile Banking

$ 2, %anipal uses both the ank led model and the "on:bank led model. 2n the bank led model,

it offers mobile banking products designed by the centrali7ed team responsible for inno ations

and research. !he ser ice aspect of these products is deli ered through the "on:bank led model.

!he clientele for such mobile banking product offerings are di erse and constitute working

professionals of %anipal Uni ersity, students of %anipal Uni ersity and the general public of

%anipal and Udupi city.

%anipal $ 2 branch also has tie up with !elco companies for pro iding mobile banking ser ices

as bank led model. 2t is both beneficial for banks and also for the telecom companies because it

generates a lot of profit to telecom companies and also on the other hand reduces the work of

banks and reduces the paper based banking .

%anipal $ 2 bank branch also pro ides non:bank:led model where a bank does not come into

the picture Be-cept possibly as a safe:keeper of surplus fundsC and the non:bank Be.g. !elcoC

performs all the functions .the arious ser ices pro ided by mobile banking to the customers are

ery much helpful for the customers as we all know that technology is increasing day by day and

because of increase in technology people are shifting towards less paper banking to sa e their

time and money.

As per the sur ey done it is found that there are '(; e-isting customers who use mobile banking

at $ 2, %anipal ranch. !his includes usinessman, students of %anipal Uni ersity and

employees working at %anipal Uni ersity.C !hose who use mobile banking prefer using mobile

banking through smart phone applications or through $%$ anking.

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$ 2, %anipal ranch is the first bank which offered mobile banking ser ice to their customers in

the town of %anipal free of cost. According to the customers it is beneficial to use mobile

banking ser ice gi en by $ 2 because they feel that mobile banking gi en by $ 2 is better than

any other banks mobile banking ser ice. anks also pro ide arious free rewards points for the

use of mobile banking and A!% banking .!his reward point is gi en for the customers to shop

free or do mobile recharge.

Se$vices o&&e$e "# STATE BAN- O2 INDIA, Manipal "$anch ou$ Mo"ile ou$ Bank

Away from home, balance enquiries can be made and or money sent to the lo ed ones or bills

can be paid anytime *=->GGG !hat is what $tate ank 1reedom offers :con enient, simple, secure,

anytime and anywhere banking.

(. %obile anking $er ice o er Application Wireless Application +rotocol BWA+C

!he ser ice is a ailable on ja a enabled Android mobile phones Bwith or without H+4$C where

the user is required to download the application on to the mobile handset. !he ser ice can also be

a ailed ia WA+ on all phones Bja a non ja aC with H+4$ connection.

!he following functionalities are a ailable in $tate ank, %anipal mobile banking#:

• Account information• %ini:statements and checking of account history• Alerts on account acti ity or passing of set thresholds• %onitoring of term deposits• Access to loan statements• Access to card statements•

%utual funds equity statements• 2nsurance policy management• +ension plan management• $tatus on cheque, stop payment on cheque• 0rdering cheque books• alance checking in the account• 4ecent transactions

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• &ue date of payment Bfunctionality for stop, change and deleting of paymentsC• +2" pro ision, 5hange of +2" and reminder o er the 2nternet• locking of Blost, stolenC cards• 3ocating nearest bank ranch A!%Ds.• 5ash:in, cash:out transactions on an A!%• &omestic and international fund transfers• %icro:payment handling• %obile I &irect to 6ome package recharging• +urchasing tickets for tra el and entertainment• 5ommercial payment processing• ill payment processing• +eer to +eer payments Be.g., +op money, 2sisC• Withdrawal at banking agent• &eposit at banking agent

usiness 4ules

J All 5urrent $a ings ank Account holders in + segment are eligible.

J !ransaction limit per customer per day is 4s.;), ))) : with a calendar month limit of 4s.*,

;),))) :

J All customers can a ail the $er ice irrespecti e of their telecom ser ice pro ider.

J !he $er ice is free of charge. $%$ H+4$ cost will be borne by the customer.

*. %obile anking $er ice o er $%$#

!he ser ice is a ailable on all phones Bja a non ja aC with without H+4$ connection. "o need to

download the application. 0rdinary $%$ charges are applicable.

!he following functionalities are a ailable#

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J nquiry $er ices B alance nquiry %ini $tatementC

J %obile !op up

J &!6 !op up recharge

J 2%+$: %obile to %obile !ransfer

J 5hange %+2"

usiness 4ules

JAll 5urrent $a ings ank Account holders in + segment are eligible.

J !ransaction limit per customer per day is 4s.(, ))) : with a calendar month limit of 4s.;,

))) : . 6owe er, customers desiring to transact up to 4s.;))) : per day or 4s*;, ))) : per monthmay do so after obtaining an 0ne !ime +assword B0!+C

J All customers can a ail the $er ice irrespecti e of telecom ser ice pro ider.

J !he $er ice is free of charge. $%$ cost will be borne by the customer.

J As a matter of abundant precaution, 5ustomers are requested to delete all the messages sent to

the number 9**'==)))), once the response for their request has been recei ed.

'. %obile anking $er ice o er U$$& BUnstructured $upplementary $er ice &ataC

!he ser ice is a ailable on all phones Bja a non ja aC with without H+4$ connection. "o need to

download the application.

!he following functionalities are a ailable#

J nquiry $er ices B alance nquiry %ini $tatementC

J %obile !op up

J 1unds !ransfer Bwithin ankC

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usiness 4ules

J All 5urrent $a ings ank Account holders in + segment are eligible.

J !ransaction limit per customer per day is 4s.(,))) : with a calendar month limit of 4s.;,))) :

J !he $er ice is a ailable for subscribers of select telecom operators only.

J !he $er ice is free of charge. U$$& session charges will be borne by the customer.

J !he ser ice is session based and requires a response from the user within a reasonable time.

Revie% o& lite$atu$e

2ndeed, across the de eloping world, there are probably more people with mobile handsets than

with bank accounts 15o$teous, 6@@:3. y complementing ser ices offered by the banking

system, such as checkbooks, A!%s, oicemail landline interfaces, smart cards, point:of:sale

networks, and internet resources, the mobile platform offers a con enient additional method for

managing money without handling cash 1-a$jaluoto, 6@@63! 1or users in the de eloping world,

on the other hand, the appeal of these m:banking m:payments systems may be less about

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con enience and more about accessibility and affordability 1C$acknell, 6@@8 in&oDE(, 6@@:3!

4egulatory factors, which can ary dramatically from country to country, play a strong role in

determining which ser ices can be deli ered ia which institutional arrangements 1Mo$ti)e$=

Schutts, 6@@;3 shift in consumer attention to the mobile channel means that the justification and

rationale for in estments in mobile banking capabilities will come from success in mobile

marketing efforts 15at$ick -ilhane#, Aite /$oup Sales, Ap$il 6@++3

Resea$ch /ap

$tudies conducted in the area of mobile banking is restricted to opportunities through marketing

in terms of market share and business results and the con enience and benefits mobile banking

pro ides due to the e-tensi e use of technology. !his research attempts to study the e-tent towhich each of these mobile banking ser ices offered by $ 2, %anipal has been a ailed by the

customers.

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Chapte$ 6

RESEARC0 MET0ODOLO/

Nee &o$ the stu #

%obile banking in 2ndia is a huge market especially in a country like 2ndia, where rural markets

stands untapped. anks ha e introduced wide range of products and ser ices through mobile

banking. !his study attempts to understand and analy7e the reasons for low penetration and

market acceptability of these products and ser ices. !he need for the study is to pro ide

recommendations to policy makers and suggest methods as to how these products and ser ices

can be effecti ely used by the customers.

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RESEARC0 MET0ODOLO/

!he methodology used by the researcher to complete this project is as follows:

1or the present research, the paper is based on -ploratory 4esearch. !he major emphasis of

-ploratory 4esearch is on the disco ery of ideas. !hrough -ploration, the researcher de elops

concepts more clearly, establish priorities, de elop operational definitions, and impro e the final

research design. !his research is both quantitati e and qualitati e. !his research is based on the

data collected through “Kuestionnaire” with %obile banking User and "on:user.

&ata has been collected from arious sourcesL there is a combination of both primary and

secondary data that has been used in this research.

+42%A4M &A!A#:

!he data for the research is e-tracted from a sur ey conducted in %anipal /arnataka, 2ndia. A

total of ') respondents participated in the research of %obile banking. !he demographic profile

of respondents in each research is shown in !able and chart. !he data collected through this

method was adequate enough to make projections in the research.

$ 50"&A4M &A!A#:

Articles ha e been sourced from maga7ines and journals dealing with current issues immobile

banking adoption. 2nternet I !e-t books related to %obile anking I4esearch %ethodology

ha e been a major secondary source for the e-traction of the e-pertDs opinion.

Sa)pling Techni ue

!here are '(; customers in $tate ank of 2ndia who ha e registered for mobile banking ser ices.

!he sample picked is of ') respondents out of the '(; who ha e registered using con enience

sampling. !he details of sample respondents ha e been furnished below#

Respon ents Nu)"e$$tudents +@

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Academicians >usinessmen +6

Ta"le +!+ + a g e

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1ield0bser ation

+rimary data • Kuestionnaire

• 0pinionnaire

• +ersonalinter iew

• 1ocusedinter iew

• Hroupinter iew

• !elephonicsur ey

• ased on sampling techniques, thedata needs to be collected andanaly7ed from customers of state

bank of 2ndia.

Ta"le +!6

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!he following are the research objecti es which this study is dealt with#

(. !o study the scope for marketing of mobile banking ser ices with reference to $ 2, %anipal branch.

*. !o suggest opportunities related to the use of these mobile banking ser ices by the potentialcustomers of the $ 2, %anipal branch

SCO5E O2 RESEARC0

!he study was conducted in $!A! A"/ 01 2"&2A, %A"2+A3 4A"56. !he study was

conducted in the month of 1 : %A456 *)('.1urthur research can be conducted in same area

where the issues related to mobile banking uses and the ser ices offered by bank in mobile banking are really used by the customers or not can be studied.

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Chapte$ 7

DATA ANAL SIS AND INTRE5ETATION

DATA ANAL SIS AND INTRE5ETATION

+! 6a ing registered for mobile banking ser ices with the bank, are you a ailing these ser iceson a regular basisN

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Mobile banking users

Yes (87%)No (13%)

2ig 7!+

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mobile banking experience in years

0-2yrs 2-5yrs 5-10yrs

2ig 7!6

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reasons for using mobile banking

less time consuming

easy to use/convenienceinex ensiveaccessi!ility

2ig 7!7

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Is mobile banking secure

yesno

2ig 7!8

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Which banking technology ser ice do people prefer moreN

0

5

10

15

20

25

30

35

banking technology services

!an"ing tec#nologyservices

2ig 7!9

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type of customers in mobile banking

!usinessmanstu$entsassistant ro essor service eo le

2ig 7!:

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0-20 20-&0 &0-'0 '0 a!ove0

2

&

'

8

10

12

1&

1'

Age group using mobile banking

age grou

2ig 7!; + a g e

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4ange of ser ices offered in mobile banking and how many customers mainly use thoseser ices#:

0

5

10

15

20

25

range of services o ered in mobile banking and used by customers

range o% services o(ere$ in mo!ile !an"ing an$ use$ !y customers

2ig 7!>

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As per the sur ey done and the report is made it is found that there are many ser ices in mobile banking which is not used by the customers and they also donDt know about those ser ices andhow it can be helpful for the customers ,the arious ser ices pro ided by mobile banking are#:

(. %ini:statements and checking of account history

*. Alerts on account acti ity or passing of set thresholds

'. %onitoring of term deposits

=. Access to loan statements

;. Access to card statements

. 2nsurance policy management

?. +ension plan management

9. $tatus on cheque, stop payment on cheque

().0rdering cheque books

((. alance checking in the account

(*.4ecent transactions

('.&ue date of payment Bfunctionality for stop, change and deleting of paymentsC

(=.+2" pro ision, 5hange of +2" and reminder o er the 2nternet

(;. locking of Blost, stolenC cards

(

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of mobile banking people can access to loan statement, transfer funds, ordering cheque books,they can pay insurance premium etc.

$o it is necessary for the banks to take some steps towards this and make people aware about thefacilities a ailable in mobile banking because we all know that paper banking is too muche-pensi e and people donDt ha e time to isit banks e eryday so the arious steps taken by the

banks are ery much beneficial for the customers but people should know about this ser ices.

After the report it is found that people prefer atm banking and internet banking more incomparisons with mobile banking because they think that mobile banking is not secure incompression with atm banking and internet banking, they feel that internet banking and atm

banking is easier in operation when compared to mobile banking, as per the sur ey it is foundthat people say that e eryone touches there phone so they can get there id and password easily soit is not secure.

2t is found that mobile banking ser ice is a ailable o er a wide range of communicationchannels. !he following communication channels are often used in combination to pro ide acomplete end to end ser ice#:

• $%$

• WA+

• U$$&

• 2F4

• +hone based application# E*% 4 W

A user will use a particular set of communication channels depending on the capabilities of themobile phone, the implementation of the standards will ary depending on the set used.

Application "ase

%ost banks pro ide a Ea a application that can be downloaded on a Ea a:enabled phone whichwill guide the user through the money transfer process. An $%$ sent through a Ea a applicationon the mobile de ice is as secure as an 2nternet anking transaction, since it can be encrypted

between the user and the bank.

SMS an I(R

An $%$O2F4 combination is used for transactions for mobile phones without Ea a capabilities.An $%$ is sent to a phone number pro ided by the bank, and an 2F4 call back is used for

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http://en.wikipedia.org/wiki/SMShttp://en.wikipedia.org/wiki/Wireless_Application_Protocolhttp://en.wikipedia.org/wiki/USSDhttp://en.wikipedia.org/wiki/IVRhttp://en.wikipedia.org/wiki/SMShttp://en.wikipedia.org/wiki/Wireless_Application_Protocolhttp://en.wikipedia.org/wiki/USSDhttp://en.wikipedia.org/wiki/IVR

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authentication and the transaction is carried forward as a oice:based transaction, at the end of which the user will be prompted to enter the %+2". !he $%$ channel is used to sendnotification messages, while the 2F4 channel which is as secure as a H$% channel .

*SSD

A transaction can also be initiated o er U$$& . A U$$& session will pro ide the user with simple prompts o er a menu allowing the user to input the payee8s mobile number, %%2&, and theuser8s own %%2& and +2" for authentication.

Secu$it#

ery communication channel has its own set of security mechanisms. 2n addition, the 4 2issued guidelines on security of mobile payments, P((Q requires a two:factor authentication mechanism to be employed. A two:factor authentication in this conte-t consistsof#

• What you know# User +2", %%2&

• What you ha e# %obile number, %obile +hone, $2% 5ard "o transaction can take place without the use of the secret +2". !he guidelines also specify a capon the amount of money that can be sent during transactions.

After the sur ey we also came to the conclusion that basically people of a age of *):=) usemobile banking more in compression with other age group ,basically people like businessmanand professors are the persons who use mobile banking more in compression of students andother people.

+eople says that they use mobile banking because it is easier in operation and less timeconsuming and in e-pensi e.

76 + a g e

http://en.wikipedia.org/wiki/GSM#GSM_service_securityhttp://en.wikipedia.org/wiki/USSDhttp://en.wikipedia.org/wiki/Mobile_Payments_in_India#cite_note-11http://en.wikipedia.org/wiki/Two-factor_authenticationhttp://en.wikipedia.org/wiki/Two-factor_authenticationhttp://en.wikipedia.org/wiki/GSM#GSM_service_securityhttp://en.wikipedia.org/wiki/USSDhttp://en.wikipedia.org/wiki/Mobile_Payments_in_India#cite_note-11http://en.wikipedia.org/wiki/Two-factor_authenticationhttp://en.wikipedia.org/wiki/Two-factor_authentication

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RE2ERENCES

• &aniel, . (999. +ro ision of electronic banking in the U/ and the 4epublic of 2reland.2nternational Eournal of ank %arketing. Fol. (> B*C, pp. >*:?*.

• lack, ". E. I 3ockett, A. I nnew, 5. I Winklhofer, 6. I %c/echnie, $. *))*.%odelling consumer choice of distribution channels# an illustration from financialser ices. 2nternational Eournal of ank %arketing. Fol. *) B=C, pp. ('.

• !hornton, Eennifer and White, 3esley B*))(C, R5ustomer 0rientations and Usage of 1inancial &istribution 5hannels,R Eournal of $er ices %arketing. Fol. (; B'C, (

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• lack, ". E. I 3ockett, A. I Winklhofer, 6. I nnew, 5. *))(. !he adoption of 2nternetfinancial ser ices# a qualitati e study. 2nternational Eournal of 4etail and &istribution%anagement. Fol. *9 B?C, pp. '9):'9?.

• 6owcroft, . I 6amilton, 4. I 6ewer, +. *))*. 5onsumer attitude and the usage andadoption of home:banking in the United /ingdom. 2nternational Eournal of ank %arketing. Fol. *) B'C, pp. (((:(*(.

• +olatoglu, F. ". I kin, $. *))(. An empirical in estigation of the !urkish consumers8acceptance of 2nternet banking ser ices. 2nternational Eournal of ank %arketing. Fol.(9B=C, pp. (;

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• Eayawardhena, 5. I 1oley, +. *))). 5hanges in the banking sector : the case of 2nternet banking in the U/. 2nternet 4esearch# lectronic "etworking Applications and +olicy.Fol. () B(C, (9:').

• /. !aga and E. /arlsson, Arthur &. 3ittle Hlobal %:+ayment 4eport. Austria, Fienna,*))=.

ANNEH*RE

$!A! A"/ 01 2"&2A, %A"2+A3 4A"56

Na)e o& the applicants< = A $ess<Age

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K=.$tate your reasons for using mobile banking ser ices

(. 3ess time consuming

*. asy use con enience'. 2ne-pensi e

=. Accessibility

;. Any other, please specify TTTTTTT..

K;.&o you think that %obile anking is secureN

Mes "o

K.Which technology oriented banking ser ice do you preferNaC 2nternet banking

bC %obile banking

cC A!% banking

K?.2n mobile banking, what are the wide range of ser ices offered to you by your bankerN

$er ices offered%ultiple bank accounts

"ame of the ank ank ( ank * ank '

%ini:statements and checking of accounthistory

Alerts on account acti ity or passing of set

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thresholds

%onitoring of term deposits

Access to loan statements

Access to card statements

%utual funds equity statements

2nsurance +ension plan policy management

$tatus on cheque, stop payment on cheque

0rdering cheque books

alance checking in the account

4ecent transactions

&ue date of payment Bfunctionality forstop, change and deleting of paymentsC

+2" pro ision, 5hange of +2" andreminder o er the 2nternet

7; + a g e

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locking of Blost, stolenC cards

3ocating nearest bank branch,A!%s

5ash:in, cash:out transactions on an A!%

&omestic and international fund transfers

%icro:payment handling

%obile I &irect to 6ome packagerecharging

+urchasing tickets for tra el andentertainment

5ommercial payment processing

+eer to +eer payments Be.g., +op money,2sisC

Withdrawal at banking agent

&eposit at banking agent

7> + a g e

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Documents

Group 18 Lip