A LIVE RESEARCH PROJECT REPORT ON To Study the popularity and Challenges of Mobile Banking Services in Udaipur For the

Partial Fulfillment of the Requirement for the Degree of

Master of Business Administration

Of

Rajasthan Technical University, KOTA

2010-2012
SUBMITTED BY: ROMA AHUJA MBA IV Sem. SUBMITTED TO: MS.SHIKHA BHARGAV (Asst. Professor)

PACIFIC BUSINESS SCHOOL, Udaipur (Rajasthan).

PREFACE
With the changing time, the Banking Industry increase in new and innovative technology. There are various regulations, directions, legal section and uniform customs and practices prevalent in the banking sector, which I have tried to assimilate in very small manner in form of project. Banking is very vast subject and there are very frequent changes regularly.

This study identifies the popularity and challenges of Mobile Banking Services. Chapter one incorporates with the introduction, history of Banking Industry in India, Indian Banking Industry, Banking Services in India, financial and Banking Sector reforms, Banks in India, present scenario of banking industry and major banks in India. Chapter two incorporate with the meaning, introduction, business model, services, various mode of communication, technology, advantage, RBI guidelines, safety measure, how fraud in this occurs, challenges, present market scenario of Mobile Banking and Mobile Banking in India. Chapter three incorporated with the research methodology of the project, objectives of the study, sample design, collection of data required for the project. In this also points out some limitations whose absence may lead to the easier. Chapter four incorporated the analysis and interpretation of the data. Chapter five incorporated the various suggestions are given on the basis of the conclusions of the project.

Attempts have been made to make this report up-to-date as per availability of data. Suggestion from the faculty and students are always welcomed.

ACKNOWLEDGEMENT

My sincere gratitude to my esteemed supervisor. MS.SHIKHA BHARGAV, Assistant Professor, Pacific Institute of Management under whose guidance and direction, we were able to give shape to my project. Her constant review and excellent suggestions throughout the project are highly commendable. I wish to express our grateful respect & thanks towards Prof. B.P. Sharma, Director, Pacific Institute of Management for allowing us to undergo to the project.

I wish to record our sincere thanks for the assistance received from all of our teachers, who gave us their precious time & invaluable suggestions to make our work presentable.

I have no words to express adequately our deep sense of gratitude to each and every one who have directly or indirectly helped us to complete this project successfully.

ROMA AHUJA

EXECUTIVE SUMMARY
Mobile banking is a term used for performing balance checks, account transactions, payments etc. via a mobile device such as a mobile phone. Mobile banking today (2007) is most often performed via SMS or the Mobile Internet but can also use special programs called clients downloaded to the mobile device. Mobile banking provides unique opportunities for customer engagement that the majority of the banking industry appears keen to explore. Mobile banking poses many questions for the financial sector and telecoms providers alike. There has been a generous effort by all interested parties to leverage the potential benefits that mobile banking can deliver to customers. Mobile banking services in an increasingly competitive retail and professional banking world.

Indian telecom market is galloping with 162.3 million mobile users as on March 2006 and an average of 5-6 million mobile users being added every month. Given that mobile phones in India have become affordable, wherein a user can now go mobile for as low as Rs. 1,500, mobile banking can be a powerful tool to bank the un-banked. Banks and telecom companies can collaborate to offer the latest in banking services to rural areas.

Mobile banking is the evolutionary step after Internet banking. It is an additional service bolted on top of an existing solution, making access to services more immediate and reducing customer reliance on branch infrastructure or access to the Internet.

From the research the awareness, perception and challenges of mobile banking services are finding out by awareness, services, reasons, problem, frauds and different modes of communication regarding mobile banking services analyzed.

TABLE OF CONTENTS
Particular
1 2 3 4 Executive Summary Introduction to industry Introduction to topic Research Methodology

Page No.
4 6 19 36

5 6 7 8 9 10 11

Analysis and Interpretation Facts and Findings SWOT Analysis Conclusion Recommendations Appendix : Questionnaire Bibliography

41 55 58 60 63 65 69

INTRODUCTION TO THE INDUSTRY

INTRODUCTION TO THE INDUSTRY

1.1 INTRODUCTION OF BANKING INDUSTRY

Bank may be defined as a financial institution which is engaged in the business of keeping money for savings and checking accounts or for exchange or for issuing loans and credit etc. A set of services intended for private customers and characterized by a higher quality than the services offered to retail customers. Based on the notion of tailor-made services, it aims to offer advice on investment, inheritance plans and provide active support for general transactions and the resolution of asset-related problems. The essential function of a bank is to provide services related to the storing of deposits and the Extending of credit. Basic function may include Credit collection, Issuer of banking notes, Depositor of money and lending loans. Now a days banking is not in its traditional way, with the advancement of technology its focusing on more comfort of customer providing services such as: Online Banking Investment Banking Electronic Banking Internet Banking Pc Banking /Mobile Banking E-Banking

1.2 HISTORY OF BANKING IN INDIA

Without a sound and effective banking system in India it cannot have a healthy economy. The banking system of India should not only be hassle free but it should be able to meet new challenges posed by the technology and any other external and internal factors. For the past three decades India's banking system has several outstanding achievements to its credit. The most striking is its extensive reach. It is no longer confined to only metropolitans or cosmopolitans in India. In fact, Indian banking system has reached even to the remote corners of the country. This is one of the main reasons of India's growth process. The government's regular policy for Indian bank since 1969 has paid rich dividends with the nationalization of 14 major private banks of India. Not long ago, an account holder had to wait for hours at the bank counters for getting a draft or for withdrawing his own money. Today, he has a choice. Gone are days when the most efficient bank transferred money from one branch to other in two days. Now it is simple as instant messaging or dial a pizza. Money has become the order of the day. The first bank in India, though conservative, was established in 1786. From 1786 till today, the journey of Indian Banking System can be segregated into three distinct phases. They are as mentioned below:

Early phase from 1786 to 1969 of Indian Banks Nationalization of Indian Banks and up to 1991 prior to Indian banking sector Reforms.

New phase of Indian Banking System with the advent of Indian Financial & Banking Sector Reforms after 1991.

1.3 INDIAN BANKING INDUSTRY

The growth in the Indian Banking Industry has been more qualitative than quantitative and it is expected to remain the same in the coming years. Based on the projections made in the "India Vision 2020" prepared by the Planning Commission and the Draft 10th Plan, the report forecasts that the pace of expansion in the balancesheets of banks is likely to decelerate. The total assets of all scheduled commercial banks by end-March 2010 are estimated at Rs 40, 90,000 crores. That will comprise about 65 per cent of GDP at current market prices as compared to 67 per cent in 200203. Bank assets are expected to grow at an annual composite rate of 13.4 per cent during the rest of the decade as against the growth rate of 16.7 per cent that existed between 1994-95 and 2002-03. It is expected that there will be large additions to the capital base and reserves on the liability side. Banks in India can be categorized into non-scheduled banks and scheduled banks. Scheduled banks constitute of commercial banks and co-operative banks. There are about 67,000 branches of Scheduled banks spread across India. During the first phase of financial reforms, there was a nationalization of 14 major banks in 1969. This crucial step led to a shift from Class banking to Mass banking. Since then the growth of the banking industry in India has been a continuous process. The Public Sector Banks (PSBs), which are the base of the Banking sector in India account for more than 78 per cent of the total banking industry assets. Unfortunately they are burdened with excessive Non Performing assets (NPAs), massive manpower and lack of modern technology. On the other hand the Private Sector Banks are making tremendous progress. They are leaders in Internet banking, mobile banking, phone banking, ATMs. As far as foreign banks are concerned they are likely to succeed in the Indian Banking Industry Indusland Bank was the first private bank to be set up in India. In the Indian Banking Industry some of the Private Sector Banks operating are IDBI Bank, ING Vyasa Bank, SBI Commercial and International Bank Ltd, Dhanalakshmi Bank Ltd,Karur Vysya Bank

1.4 NATIONALISATION OF BANKS IN INDIA

The nationalization of banks in India took place in 1969 by Mrs. Indira Gandhi the then prime minister. It nationalized 14 banks then. These banks were mostly owned by businessmen and even managed by them.
1. 2. 3. 4. 5. 6. 7.

Central Bank of India Dena Bank Syndicate Bank Indian Bank Bank of Baroda Allahabad Bank UCO Bank

8. 9. 10. 11. 12. 13. 14.

Bank of Maharashtra Punjab National Bank Canara Bank Indian Overseas Bank Union Bank United Bank of India Bank of India

Before the steps of nationalization of Indian banks, only State Bank of India (SBI) was nationalized. It took place in July 1955 under the SBI Act of 1955. Nationalization of Seven State Banks of India (formed subsidiary) took place on 19th July, 1960.The State Bank of India is India's largest commercial bank and is ranked one of the top five banks worldwide. It serves 90 million customers through a network of 9,000 branches and it offers -- either directly or through subsidiaries -- a wide range of banking services. The second phase of nationalization of Indian banks took place in the year 1980. Seven more banks were nationalized with deposits over 200 crores. Till this year, approximately 80% of the banking segment in India was under Government ownership. After the nationalization of banks in India, the branches of the public sector banks rose to approximately 800% in deposits and advances took a huge jump by 11,000%.

1955: Nationalization of State Bank of India. 1959: Nationalization of SBI subsidiaries. 1969: Nationalization of 14 major banks. 1980: Nationalization of seven banks with deposits over 200 crores.

1.5 BANKING SERVICES IN INDIA

With years, banks are also adding services to their customers. The Indian banking industry is passing through a phase of customers market. The customers have more choices in choosing their banks. A competition has been established within the banks operating in India.

With stiff competition and advancement of technology, the service provided by banks has become more easy and convenient. The past days are witness to an hour wait before withdrawing cash from accounts or a cheque from north of the country being cleared in one month in the south.

This section of banking deals with the latest discovery in the banking instruments along with the polished version of their old systems.

FINANCIAL AND BANKING SECTOR REFORMS

The last decade witnessed the maturity of India's financial markets. Since 1991, every governments of India took major steps in reforming the financial sector of the country. The important achievements in the following fields are discussed under separate heads: 1. Financial markets 3. The banking system 2. Regulators 4. Development of financial institution

5. Non-banking finance companies 6. The capital market 8. Overall approach to reforms 10. Capital market developments 7. Mutual funds 9. Deregulation of banking system

1.5.1 FINANCIAL MARKETS:

In the last decade, Private Sector Institutions played an important role. They grew rapidly in commercial banking and asset management business. With the openings in the insurance sector for these institutions, they started making debt in the market. Competition among financial intermediaries gradually helped the interest rates to decline. Deregulation added to it. The real interest rate was maintained. The borrowers did not pay high price while depositors had incentives to save. It was something between the nominal rate of interest and the expected rate of inflation.

1.5.2 REGULATORS:
The Finance Ministry continuously formulated major policies in the field of financial sector of the country. The Government accepted the important role of regulators. The Reserve Bank of India (RBI) has become more independent. Securities and Exchange Board of India (SEBI) and the Insurance Regulatory and Development Authority (IRDA) became important institutions. Opinions are also there that there should be a super-regulator for the financial services sector instead of multiplicity of regulators.

1.5.3 THE BANKING SYSTEM:

Almost 80% of the business is still controlled by Public Sector Banks (PSBs). PSBs are still dominating the commercial banking system. Shares of the leading PSBs are already listed on the stock exchanges. The RBI has given licenses to new private sector banks as part of the liberalization process. The RBI has also been granting licenses to industrial houses. Many banks are successfully running in the retail and consumer segments but are yet to deliver services to industrial finance, retail trade, small business and agricultural finance.

1.5.4 DEVELOPMENT FINANCE INSTITUTIONS:

Financial institution access to SLR funds reduced. Now they have to approach the capital market for debt and equity funds. Convertibility clause no longer obligatory for assistance to corporate sanctioned by term-lending institutions. Capital adequacy norms extended to financial institutions. DFIs such as IDBI and ICICI have entered other segments of financial services such as commercial banking, asset management and insurance through separate ventures. The move to universal banking has started.

1.5.5 NON-BANKING FINANCE COMPANIES:

In the case of new NBFCs seeking registration with the RBI, the requirement of minimum net owned funds, has been raised to Rs.2 crores. Until recently, the money market in India was narrow and circumscribed by tight regulations over interest rates and participants. The secondary market was underdeveloped and lacked liquidity. Several measures have been initiated and include new money market instruments, strengthening of existing instruments and setting up of the Discount and Finance House of India (DFHI). The RBI conducts its sales of dated securities and treasury bills through its open market operations (OMO) window. Primary dealers bid for these securities and also trade in them. The DFHI is the principal agency for developing a secondary market for money market instruments and Government of India treasury bills. The RBI has introduced a liquidity adjustment facility (LAF) in which liquidity is injected through reverse repo auctions and liquidity is sucked out through repo auctions. On account of the substantial issue of government debt, the gilt- edged market occupies an important position in the financial set- up. The Securities Trading Corporation of India (STCI), which started operations in June 1994, has a mandate to develop the secondary market in government securities.

1.5.6 THE CAPITAL MARKET:

The number of shareholders in India is estimated at 25 million. However, only an estimated two lakh persons actively trade in stocks. There has been a dramatic improvement in the country's stock market trading infrastructure during the last few years. Expectations are that India will be an attractive emerging market with tremendous potential. Unfortunately, during recent times the stock markets have been constrained by some unsavory developments, which have led to retail investors deserting the stock markets.

1.5.7 MUTUAL FUNDS:

The mutual funds industry is now regulated under the SEBI (Mutual Funds) Regulations, 1996 and amendments thereto. With the issuance of SEBI guidelines, the industry had a framework for the establishment of many more players, both Indian and foreign players. The Unit Trust of India remains easily the biggest mutual fund controlling a corpus of nearly Rs.70, 000 crores, but its share is going down. The biggest shock to the mutual fund industry during recent times was the insecurity generated in the minds of investors regarding the US 64 schemes. With the growth in the securities markets and tax advantages granted for investment in mutual fund units, mutual funds started becoming popular. The foreign owned AMCs are the ones which are now setting the pace for the industry. They are introducing new products, setting new standards of customer service, improving disclosure standards and experimenting with new types of distribution.

1.5.8 OVERALL APPROACH TO REFORMS:

The last ten years have seen major improvements in the working of various financial market participants. The government and the regulatory authorities have followed a step-by-step approach, not a big bang one. The entry of foreign players has assisted in the introduction of international practices and systems. Technology developments have improved customer service. Some gaps however remain (for example: lack of an inter-bank interest rate benchmark, an active corporate debt market and a developed derivative market). On the whole, the cumulative effect of the developments since 1991 has been quite encouraging. An indication of the strength of the reformed Indian financial system can be seen from the way India was not affected by the Southeast Asian crisis. However, financial liberalization alone will not ensure stable economic growth. Some tough decisions still need to be taken. Without fiscal control, financial stability cannot be ensured. The fate of the Fiscal Responsibility Bill remains unknown and high fiscal deficits continue. In the case of financial institutions, the political and legal structures have to ensure that borrowers repay on time the loans they have taken. The phenomenon of rich industrialists and bankrupt companies continues. Further, frauds cannot be totally prevented, even with the best of regulation. However, punishment has to follow crime, which is often not the case in India.

1.5.9 DEREGULATION OF BANKING SYSTEM:

Prudential norms were introduced for income recognition, asset classification, provisioning for delinquent loans and for capital adequacy. In order to reach the stipulated capital adequacy norms, substantial capital were provided by the Government to PSBs. Government pre-emption of banks' resources through statutory liquidity ratio (SLR) and cash reserve ratio (CRR) brought down in steps. Interest rates on the deposits and lending sides almost entirely were deregulated. New private sector banks allowed promoting and encouraging competition. PSBs were encouraged to approach the public for raising resources. Recovery of debts due to

banks and the Financial Institutions Act, 1993 was passed, and special recovery tribunals set up to facilitate quicker recovery of loan arrears. Bank lending norms liberalized and a loan system to ensure better control over credit introduced. Banks asked to set up asset liability management (ALM) systems. RBI guidelines issued for risk management systems in banks encompassing credit, market and operational risks. A credit information bureau being established to identify bad risks. Derivative products such as forward rate agreements (FRAs) and interest rate swaps (IRSs) introduced.

1.5.10 CAPITAL MARKET DEVELOPMENTS:

The Capital Issues (Control) Act, 1947, repealed, office of the Controller of Capital Issues was abolished and the initial share pricing were decontrolled. SEBI, the capital market regulator was established in 1992.Foreign institutional investors (FIIs) were allowed to invest in Indian capital markets after registration with the SEBI. Indian companies were permitted to access international capital markets through euro issues. The National Stock Exchange (NSE), with nationwide stock trading and electronic display, clearing and settlement facilities was established. Several local stock exchanges changed over from floor based trading to screen based trading.

1.6 PRESENT SCENARIO OF BANKING INDUSTRY

As far as the present scenario is concerned the banking industry is in a transition phase. The Public Sector Banks (PSBs), which are the foundation of the Indian Banking system account for more than 78 per cent of total banking industry assets. Unfortunately they are burdened with excessive Non Performing assets (NPAs), massive manpower and lack of modern technology. On the other hand the Private Sector Banks in India are witnessing immense progress. They are leaders in Internet banking, mobile banking, phone banking, ATMs. On the other hand the Public Sector Banks are still facing the problem of unhappy employees. There has been a decrease of 20 percent in the employee strength of the private sector in the wake of the Voluntary Retirement Schemes (VRS). As far as foreign banks are concerned they are likely to succeed in India.

Major Banks in India

ABN-AMRO Bank Abu Dhabi Commercial Bank American Express Bank Andhra Bank Allahabad Bank Axis Bank (Earlier UTI Bank) Bank of Baroda Bank of India Bank of Maharastra Bank of Punjab Bank of Rajasthan Bank of Ceylon BNP Paribas Bank Canara Bank Catholic Syrian Bank Central Bank of India Centurion Bank China Trust Commercial Bank Citi Bank City Union Bank Corporation Bank Dena Bank Deutsche Bank Development Credit Bank Dhanalakshmi Bank Federal Bank HDFC Bank HSBC ICICI Bank IDBI Bank

Indian Bank Indian Overseas Bank IndusInd Bank ING Vysya Bank Jammu & Kashmir Bank JPMorgan Chase Bank Karnataka Bank Karur Vysya Bank Laxmi Vilas Bank Oriental Bank of Commerce Punjab National Bank Punjab & Sind Bank Scotia Bank South Indian Bank Standard Chartered Bank State Bank of India (SBI) State Bank of Bikaner & Jaipur State Bank of Hyderabad State Bank of Indore State Bank of Mysore State Bank of Saurastra State Bank of Travancore Syndicate Bank Taib Bank UCO Bank Union Bank of India United Bank of India United Western Bank Vijaya Bank

INTRODUCTION OF TOPIC

2.1 MOBILE BANKING

What is Mobile Banking
Mobile banking also known as M-Banking, SMS Banking etc. It is a term used for performing balance checks, account transactions, payments etc. via a mobile device such as a mobile phone. Mobile banking is the usage of mobile phone as a platform for banking transactions. The account that travels with you This is needed in today's fast business environment with unending deadlines for fulfillment and loads of appointments to need and meetings to attend. With mobile banking facilities, one can bank from anywhere, at anytime and in any condition or anyhow. The system is either through SMS or through WAP. Mobile Banking is the hottest area of development in the banking sector and is expected to replace the credit/debit card system in future. In past two years, mobile banking users have increased three times if we compare the use of either debit card or credit card. Moreover 85-90% mobile users do not own credit cards. Apparently, mobile banking has emerged the most promising front-end technology for broadening the access of finance in the country. However, people have to worry about frauds in their accounts as they think it has a weaker security system than personal banking.

Using compact HTML and WAP technologies, the following operations can be conducted through advanced mobile phones which can is further viewed on channels such as the Internet via the Channel Manager.

Bill payments Fund transfers Check balances Any many more which is also available in SMS Banking

2.2 How Mobile Banking Works

System Design
Wap Request

Wap Response

HTTP request
search

search Database Server update

Interface Server

Bank Server
HTTP response updat e

Database Server

With mobile technology, banks can offer a wide range of services to their customers such as doing funds transfer while traveling, receiving online updates of stock price or even performing stock trading while being stuck in traffic. According to the German mobile operator Mobilcom, mobile banking will be the killer application for the next generation of mobile technology. Mobile devices, especially smart phones, are the most promising way to reach the masses and to create "stickiness" among current customers, due to their ability to provide services anytime, anywhere, high rate of penetration and potential to grow.

2.3 Mobile banking business models

A wide spectrum of Mobile/branchless banking models is evolving. However, no matter what business model, if mobile banking is being used to attract low-income populations in often rural locations, the business model will depend on banking agents, i.e., retail or postal outlets that process financial transactions on behalf telcos or banks. The banking agent is an important part of the mobile banking business model since customer care, service quality, and cash management will depend on them. Many telcos will work through their local airtime resellers. However, banks in Colombia, Brazil, Peru, and other markets use pharmacies, bakeries, etc. These models differ primarily on the question that who will establish the relationship (account opening, deposit taking, lending etc.) to the end customer, the Bank or the Non Bank/Telecommunication Company (Telco). Another difference lies in the nature of agency agreement between bank and the Non-Bank. Models of branchless banking can be classified into three broad categories - Bank Focused, Bank-Led and Nonbank-Led.

2.3.1 Bank-focused model

The bank-focused model emerges when a traditional bank uses non-traditional low-cost delivery channels to provide banking services to its existing customers. Examples range from use of automatic teller machines (ATMs) to internet banking or mobile phone banking to provide certain limited banking services to banks customers. This model is additive in nature and may be seen as a modest extension of conventional branch-based banking.

2.3.2 Bank-led model

The bank-led model offers a distinct alternative to conventional branch-based banking in that customer conducts financial transactions at a whole range of retail agents (or through mobile phone) instead of at bank branches or through bank

employees. This model promises the potential to substantially increase the financial services outreach by using a different delivery channel (retailers/ mobile phones), a different trade partner (Telco / chain store) having experience and target market distinct from traditional banks, and may be significantly cheaper than the bank-based alternatives. The bank-led model may be implemented by either using correspondent arrangements or by creating a JV between Bank and Telco/non-bank. In this model customer account relationship rests with the bank

2.3.3 Non-bank-led model

The non-bank-led model is where a bank does not come into the picture (except possibly as a safe-keeper of surplus funds) and the non-bank (e.g. Telco) performs all the functions

2.4 VARIOUS MODES AVAILABLE TO USERS FOR MOBILE BANKING

2.4.1 SMS: SMS is the simplest form of mobile banking. It is largely used for informationbased services. SMS has the maximum reach amongst consumers since all the mobile phones support SMS. The premium SMS charges are charges from the end users. But, the biggest challenge in SMS based mobile banking is that, it is the least secure form of mobile banking.

2.4.2 Interactive Voice Response: IVR allows a caller to select options from a voice menu and interact with the phone system. The IVR system would then take the necessary instructions from the consumer by recording the tones of the number selections that the consumer enters on the key pad, or through spoken commands, and creates an instruction that is given to the service provider/bank. The security in IVR systems is relatively high than SMS.

2.4.3 USSD (Unstructured Supplementary Service Data): In USSD, the interaction is in the form of a continuous session as opposed to SMS. USSD is available on all handsets. Security in USSD is similar to IVR. Barclays have launched their mobile banking services on USSD.

2.4.4 Wireless Internet Protocol: WAP is the usage of Internet on mobile for mobile banking applications. It is similar to Internet banking. The consumers handset needs to be WAP enabled. WAP banking is open to similar threats as Internet banking.

2.4.5 J2ME: J2ME has dual advantage. One, it can use GPRS, USSD or SMS to carry the consumer data/ instruction in an encrypted format. Second, it can be operator agnostic. J2ME applications are secure since the application resides on the handset.

2.4.6 SIM Application Tool Kit (STK): The SIM Application Toolkit allows for the service provider or bank to house the consumers mobile banking menu within the SIM card. Many mobile operators around the world for many applications, where a menu-based approach is required, such as mobile banking and content browsing, have deployed STK. STK is the most secure method of mobile banking. It allows the bank to load its own encryption keys onto the SIM card with the banks own developed application. Thus the consumers data can be stored on the SIM Card and the consumer can be authenticated on the handset prior to having to carry any data across the mobile network. The industry is optimistic about the usage of STK application for mobile banking.

2.5 MOBILE BANKING SERVICES

Banks offering mobile access are mostly supporting some or all of the following services:

2.5.1 Account Information

1. Mini-statements and checking of account history 2. Alerts on account activity or passing of set thresholds 3. Monitoring of term deposits 4. Access to loan statements 5. Access to card statements 6. Mutual funds / equity statements 7. Insurance policy management 8. Pension plan management 9. Status on cheque, stop payment on cheque 10. Ordering check books 11. Balance checking in the account 12. Recent transactions 13. Due date of payment (functionality for stop, change and deleting of payments) 14. PIN provision, Change of PIN and reminder over the Internet 15. Blocking of (lost, stolen) cards

2.5.2 Payments, Deposits, Withdrawals, and Transfers

1. Domestic and international fund transfers 2. Micro-payment handling 3. Mobile recharging 4. Commercial payment processing 5. Bill payment processing Peer to Peer payments 6. Withdrawal at banking agent 7. Deposit at banking agent

2.5.3 Investments
1. Portfolio management services 2. Real-time stock quotes 3. Personalized alerts and notifications on security prices

2.5.4 Support
1. Status of requests for credit, including mortgage approval, and insurance coverage 2. Cheque book and card requests 3. Exchange of data messages and email, including complaint submission and tracking 4. ATM Location

2.5.5 Content Services

1. General information such as weather updates, news 2. Loyalty-related offers 3. Location-based services

2.6 TECHNOLOGIES BEHIND MOBILE BANKING

Indian banks and payment service providers have been by and large dovetailing their mobile payment initiatives under the umbrella of mobile banking even before the guidelines were out. The banking system has already been in conformity with these suggested guidelines, which now have the legal sanction of the Reserve Bank of India. Banks own operating experience and other payments systems prevalent have provided the necessary grist for the RBI mill, and as time go on, hopefully these will evolve and become far more enabling for stakeholders, rather than favor one approach or another or cripple themselves in strangulated regulations.

Mobile payments are a wireless consumer product or service. In short a benefit convenience, like, escalators, ATMs, etc. Methods and approaches for mobile commerce will differ across region, country and even service providers, as each stakeholder has its own assessment of what works best and what value proposition appeals to the consumer. Technically speaking most of these services can be deployed using more than one channel. Presently, Mobile Banking is being deployed using mobile applications developed on one of the following four channels. 1. IVR (Interactive Voice Response) 2. SMS (Short Messaging Service) 3. WAP (Wireless Access Protocol) 4. Standalone Mobile Application Clients

2.7 ADVANTAGES OF MOBILE BANKING

The biggest advantage that mobile banking offers to banks is that it drastically cuts down the costs of providing service to the customers. For example an average teller or phone transaction costs about $2.36 each, whereas an electronic transaction costs only about $0.10 each. Additionally, this new channel gives the bank ability to cross-sell up-sell their other complex banking products and services such as vehicle loans, credit cards etc. For service providers, Mobile banking offers the next surest way to achieve growth. Countries like Korea where mobile penetration is nearing saturation, mobile banking is helping service providers increase revenues from the now static subscriber base. Service providers are increasingly using the complexity of their supported mobile banking services to attract new customers and retain old ones. A very effective way of improving customer service could be to inform customers better. Credit card fraud is one such area. A bank could, through the use of mobile technology, inform owners each time purchases above a certain value have been made on their card. This way the owner is always informed when their card is used, and how much money was taken for each transaction. Similarly, the bank could remind customers of outstanding loan repayment dates, dates for the payment of monthly installments or simply tell them that a bill has been presented and is up for payment. The customers can then check their balance on the phone and authorize the required amounts for payment. The customers can also request for additional information. They can automatically view deposits and withdrawals as they occur and also pre- schedule payments to be made or cheques to be issued. Similarly, one could also request for services like stop cheque or issue of a cheque book over ones mobile phone.

2.8 MOBILE BANKING IN INDIA

Mobile banking is poised to grow rapidly in India. ATM and internet banking have been around in India for a while. While both modes have had some success, penetration and use levels have been moderate. While ATMs offer convenience, they pose a perceived security threat in India given instances of mugging around them. Senior citizens and women appear reluctant to use ATMs if they have a choice to go to a branch and withdraw money in safety. The security situation in India shows little sign of improvement and therefore a large scale proliferation of ATMs will remain a challenge. Internet banking, on the other hand, relies on PC and internet penetration. Estimates suggest that there are approx 40 million internet users which are expected to rise to 100 million soon despite this growth, penetration and use levels remain low, especially in non-metro areas. Research also suggests that internet banking is picking up amongst the target user group. While internet penetration and use in India is relatively low, mobile phone penetration is much higher and growing rapidly. There are over 200 million mobile phone subscribers in India and the number continues to explode. Financial services companies are now working with mobile payment players like mChek to offer innovative mobile phone solutions to urban and rural Indian population. Reserve Bank of India has restrictions on non-bank involvement in money transfer. Therefore, development of mobile financial services applications is being sponsored primarily by banks in India. Economic Times reports that Citigroup has tested a proposition which allows brokerage to respond to margin calls or enhance credit limits, by authorizing transactions over the mobile phone. Once the customer and broker sign up for the application, the process is carried out by PIN validations. A one-time PIN is generated for each transaction, which is verified by the customer, after which the bank validates the transaction and sends it to the broker. Once the transaction is completed, the customer is intimated on his mobile phone again. Citi and mChek are also exploring the possibility of a similar offer for mutual funds. They have also launched a mobile application which enables farmers to receive money for sale of produce through their mobile phones. These payments take the form of intent to pay information that can be cashed at partner banks.

2.8.1 GROWTH IN THE MOBILE BANKING MARKET

Convenience of banking operations Mobile-banking services would help users to save time. It is convenient for users to complete their banking transactions at the click of their mobile.

Greater reach to consumers Limited number of branches was a deterrent for banks to increase its reach to its customers. With the usage of mobile banking, the banks can now increase their consumer base.

Integration of other m-commerce services with mobile banking Slowly, banks are using mobile as platform to enable users to conduct all their financial transactions. This would enhance the utility of Mobile phones. Also, it would enable banks to provide better services to their consumers. This, in turn, would increase the effectiveness of banking operations.

2.9 CHALLENGES FOR MOBILE BANKING

Key challenges in developing a sophisticated mobile banking application are:

2.9.1 Interoperability
There is a lack of common technology standards for mobile banking. Many protocols are being used for mobile banking HTML, WAP, SOAP, XML to name a few. It would be a wise idea for the vendor to develop a mobile banking application that can connect multiple banks. It would require either the application to support multiple protocols or use of a common and widely acceptable set of protocols for data exchange.

2.9.2 Security Concerns

Securities of financial transactions, being executed from some remote location and transmission of financial information over the air, are the most complicated challenges that need to be addressed jointly by mobile application developers, wireless network service providers and the banks' IT departments. The consumers are not confident about the security aspect of mobile banking. Since Indian consumers are still wary of the security in financial transactions, it is imperative for operators to emphasize this aspect. The following aspects need to be addressed to offer a secure infrastructure for financial transaction over wireless network: 1. Physical part of the hand-held device. If the bank is offering smart-card based security, the physical security of the device is more important. 2. Security of any thick-client application running on the device. In case the device is stolen, the hacker should require at least an ID/Password to access the application. 3. Authentication of the device with service provider before initiating a transaction. This would ensure that unauthorized devices are not connected to perform financial transactions. 4. User ID / Password authentication of banks customer. 5. Encryption of the data being transmitted over the air. 6. Encryption of the data that will be stored in device for later / off-line analysis by the customer.

2.9.3 Scalability & Reliability

Another challenge for the CIOs and CTOs of the banks is to scale-up the mobile banking infrastructure to handle exponential growth of the customer base. With mobile banking, the customer may be sitting in any part of the world (true anytime, anywhere banking) and hence banks need to ensure that the systems are up and running in a true 24 x 7 fashion. As customers will find mobile banking more and more useful, their expectations from the solution will increase. Banks unable to meet the performance and reliability expectations may lose customer confidence. There are systems such as Mobile Transaction Platform which allow quick and secure mobile enabling of various banking services. Recently in India there has been a phenomenal growth in the use of Mobile Banking applications, with leading banks adopting Mobile Transaction Platform and the Central Bank publishing guidelines for mobile banking operations.

2.9.4 Application distribution

Due to the nature of the connectivity between bank and its customers, it would be impractical to expect customers to regularly visit banks or connect to a web site for regular upgrade of their mobile banking application. It will be expected that the mobile application itself check the upgrades and updates and download necessary patches (so called "Over the Air" updates). However, there could be many issues to implement this approach such as upgrade / synchronization of other dependent components.

2.9.5 Personalization
It would be expected from the mobile application to support personalization such as: 1. Preferred Language 2. Date / Time format 3. Amount format 4. Default transactions 5. Standard Beneficiary list 6. Alerts

2.9.6 Limited usage of GPRS

GPRS is a very effective channel for mobile banking. But the growth is restricted by limited usage of GPRS in the Indian Market. The consumers are not very well versed with data transmission channels.

2.9.7 Regulatory Impediments

RBI is in the final stages of formulating the guidelines for mobile banking in India. Since it involves security concerns from consumer perspective, a robust regulatory framework for mobile banking is imperative. With the RBI regulations in the closet, mobile banking has a bright future in India. Now that the security concerns involved would be addressed, the mobile banking is bound to grow.

2.10 TRENDS IN MOBILE BANKING

The advent of the Internet has revolutionized the way the financial services industry conducts business, empowering organizations with new business models and new ways to offer 24x7 accessibility to their customers. The ability to offer financial transactions online has also created new players in the financial services industry, such as online banks, online brokers and wealth managers who offer personalized services, although such players still account for a tiny percentage of the industry. Over the last few years, the mobile and wireless market has been one of the fastest growing markets in the world and it is still growing at a rapid pace. According to the GSM Association and Ovum, the number of mobile subscribers exceeded 2 billion in September 2005, and now exceeds 2.5 billion (of which more than 2 billion are GSM). According to a study by financial consultancy Celent, 35% of online banking households will be using mobile banking by 2010, up from less than 1% today. Upwards of 70% of bank center call volume is projected to come from mobile phones. Mobile banking will eventually allow users to make payments at the physical point of sale. "Mobile contactless payments will make up 10% of the contactless market by 2010. Many believe that mobile users have just started to fully utilize the data capabilities in their mobile phones. In Asian countries like India, China, Bangladesh, Indonesia and Philippines, where mobile infrastructure is comparatively better than the fixed-line infrastructure, and in European countries, where mobile phone penetration is very high (at least 80% of consumers use a mobile phone), mobile banking is likely to appeal even more. This opens up huge markets for financial institutions interested in offering value added services. With mobile technology, banks can offer a wide range of services to their customers such as doing funds transfer while travelling, receiving online updates of stock price or even performing stock trading.

RESEARCH METHODOLOGY

3.1 TITLE OF STUDY:

The title of my study is To study the Popularity and challenges of Mobile Banking Services in Udaipur.

3.2 DURATION OF THE PROJECT:

6 Months.

3.3 OBJECTIVES OF THE STUDY:

Objectives of my study are: To study the awareness of Mobile Banking Services in Udaipur. To study the perception regarding Mobile Banking Services. To study the challenges of Mobile Banking Services.

3.4 IMPORTANCE OF THE STUDY:

Besides knowing the awareness of mobile banking services and we also came to know about following crucial aspects related to like perception of the users and nonusers and the challenges of mobile banking services.

3.5 RESEARCH METHODOLOGY:

Research is common parlance refer to a search of knowledge. One can also define research as a scientific and systematic search for pertinent knowledge or information on specific topic. According to Redman and Mary: Research is a systematic effort to gain new knowledge.

3.6 UNIVERSE OF RESEARCH STUDY:

I have done our survey in Udaipur city.

3.7 SAMPLING TECHNIQUE:

Convenient sampling techniques were used in the project.

3.8 SAMPLE DESIGN:

Sample size of project was 100 respondents representing the sample.

3.9 SAMPLE UNIT:

General people of Udaipur city.

3.10 DATA COLLECTION:

Primary data have been used.

3.11 METHODOLOGY:
1. 2. 3. 4. 5. Prepare the list of information needed. Frame questionnaire. Collect information. Convert information in to data and graph. Analyze and interpretation.

3.12 FIELDWORK:
The questionnaire was prepared and was also filled by the respondent through interviews.

3.13 INTERVIEW METHOD:

The interview method of collecting data involves presentation of oral-verbal and reply in terms of oral verbal responses. This method was used in some cases it was also be used for the persons who were not willing to fill the questionnaire for same reason.

3.14 QUESTIONNAIRE METHOD:

This method of data collection is quite popular in case of big inquiries. This method will be the main source of gathering information in the project. A project in which there is pre determined question and question are presented with the different sequence and wording to all respondents of their two segments. Since the study was exploratory in nature a personal interview with each respondent, the aid of questionnaire was selected as method of obtaining data. The various forms of questions were being used in questionnaire like: 1) Multiple choice questions 2) Open ended or free hand questions 3) Close ended questions It was one of the most uphill tasks to interview with each respondent for about 15-20 minutes and obtained information according to the questionnaire.

3.15 SCOPE OF THE STUDY:

This study deals with crucial aspect of awareness regarding Mobile Banking. In todays competitive scenario, it is very essential for the service providers bank to know the customers perception and challenges regarding their services.

3.16 LIMITATIONS OF STUDY:

Every research faces some obstacle. So I had also bound with some limitation during the research. In research work we found out essence of collected part and figures but limited resources caught my legs to find out whole truth. Those limitations are as follows: 1. The respondents study was conducted only in Udaipur city. The results therefore are confined to this area only and need not necessarily be applicable to other areas.

2. The sample size of the respondents was small, so it does not sufficiently convey the attitude of the respondents.

3. Respondents might have some biased views and this could have affected the findings to a certain extent.

4. In the questionnaire, questions are very limited, because it is very difficult to get the information from the busy officials.

5. In calling some respondents did not cooperate.

6. Huge time was involved for direct interviewing.

7. The respondents sometimes not available.

8. This sample may not be the true representative of the complete population

DATA INTERPRETATION ANALYSIS

DATA ANALYSIS AND INTERPRETATION

As specified earlier during the sampling collection period 100 samples were selected according to the convenience and various families, friends and relations were approached and data was collected.

1.

Are you customer of bank?

Yes 0% No

100%

INTERPRETATION:
In above findings, Out of 100 respondents all Businessmen, Student, Private & govt. employees have a customer of bank.

2.

Do you know about Mobile Banking?

30 25 Respondents 20 15 10 5 4 0 Businessmen Private Employees Govt. Employees Students 0 2 6 22 18 28 20

Yes No

Classes

INTERPRETATION:
In above findings, out of 28 all Private Employees are aware about Mobile Banking Services but out of 26 Business only 22, out of 20 Govt. Employees only 18 & out of 26 students only 20 are aware about the services of mobile banking & rest 4 business, 2 Govt. Employee & 2 students are not aware about the services of mobile banking.

3.

Are you users of Mobile Banking Services?

20 18 16 14 12 10 8 6 4 2 0 18 14 12 10 10 6 4 Businessmen Private Employees Govt. Employees Students Yes No 14

Respondents

Classes

INTERPRETATION:
In above findings, Out of 22 businessmen only 12, out of 28 private employees only 10, out of 20 govt. employees only 4 & Out of 20 students only 6 possesses the mobile banking services. Rest of them not possesses mobile banking services.

4.

Reasons for not using Mobile Banking Services

9 8 7 6 5 4 3 2 1 0 8 6 4 2 2 4 2 Risk 4 2 2 No Utility 6 4 4 6

Respondentsle

Businessmen Private Employees Govt. Employees

0 0

00 Others

Students

Lack of knowledge

Technical Problem

Various Reasons

INTERPRETATION:
Out of 100 respondents, only 88 respondents are aware about mobile banking services and out of these 88 respondents only 32 possess the services. Rest 56 respondents do not possess the services, 12 respondents out of these 56 do not possess because of lack of knowledge, 12 respondents do not possess services because of risk, 2 respondents do not possess services because of technical problem, 20 respondents do not possess services because of no utility and other 10 respondents not possess for other purpose and they are like, prefer the net banking services, facility is not provided in there bank.

5.

Whould you like to avail these services or not?

12 10 ARespondents 10 8 8 6 6 4 4 2 0 Businessmen Private Employees Govt. Employees Students 6 6 Yes No 8 8

Classes

INTERPRETATION:
Out of 56 respondents do not possess the services so in if the bank given the information in regarding to mobile banking services in a right way, 30 respondents out of these 56 avail these services and Rest 26 respondents not avail these services.

6.

Are thers any charges in these services?

12 10 10 Respondents 8 6 4 4 2 2 0 Businessmen Private Employees Govt. Employees Students 0 0 2 4 Yes No 10

Classes

INTERPRETATION:
Out of 32 users, 6 users are saying that charges are associated with mobile banking services but Rest 26 users feel that there is no charge in these services.

7.

What mode of communication do you in Mobile Banking?

10 10 9 8 7 6 5 4 3 2 1 0 8 6 Businessmen 4 2 0000 SMS IVR 0000 WAP Modes 0 00 2 000 Private Employees Govt. Employees Students

Respondents

Both 1&2 Both 1&3

INTERPRETATION:
Out of 32 users, 28 respondents use the SMS 2 private employee use both SMS and IVR, Rest 2 Businessmen use both SMS and WAP.

8.

Reasons for availing Mobile Banking services

7 6 5 4 3 2 1 0 Res[pondents 66 6 Businessmen 2 2000 2000 0220 2200 Private Employees Govt. Employees Students

Various Reasons

INTERPRETATION:
In our findings, out of 32 respondents 6 businessmen, 6 private employees, 2 govt. employee and 6 students has use this services for ubiquitous (anywhere, anytime), out of 32 respondents 2 businessmen has received it for fast reaction to market developments, out of 32 respondents 2 businessmen has avail this for time saving, out of 32 respondents 2 private employee, 2 govt. employee has use for others purpose like free availability and overview over bank accounts and Rest 2 businessmen, 2 private employee avail this services for both time saving and ubiquitous.

9.

What are the major services you use in Mobile Banking?

6 6 5 4 3 2 1 0 Respondents 4 2 0 2 00 0000 2 0 6 44 2 000 Businessmen Private Employees Govt. Employees Students

Classes

INTERPRETATION:
In our findings, out of 32 respondents 2 businessmen, 4 private employees, 6 Students has use these services for Balance Enquiry, out of 32 respondents 6 businessmen, 2 private employees has use for Accounting Transaction, out of 32 respondents 2 businessmen, 4 private employee and 4 govt. employee has use for both Accounting Transaction and Balance Enquiry and Rest 2 businessmen use the services accounting transaction, Balance Enquiry and bill payments.

10.

How many times you use Mobile Banking Services in a month?

9 8 7 Respndents 6 5 4 3 2 1 0 Businessmen Private Employees Govt. Employees Students 2 0 0 0 0 0 0 2 2 2 0 2 4 4 6 Never Frequently Always Sometime 8

Classes

INTERPRETATION:
In our findings, out of 32 respondents 6 has use these services in a month Never, 8 has use frequently, 18 has use sometime in a month.

11.

Do you face any problem?

9 8 7

Respondents

6 5 4 3 2 1 0 Businessmen Private Employees Govt. Employees Students 3 0 3 6 0 2 0 8 0 0 0 4 0 4 0 2 Network Accessibility Access Speed Others No

Classes

INTERPRETATION:
Out of 32 users only 3 have face problem for Network Accessibility, 6 users have faced the problem of Access Speed, 3 have faced others problem like security concerns, fear for hackers and complicated and rest 20 users faced no problem regarding these services.

12.

Do you feel, Mobile Banking is useful or not?

12 10 10 Respondents 8 6 6 4 2 2 0 Businessmen Private Employees Govt. Employees Classes Students 0 3 1 0 Yes No 10

INTERPRETATION:
Out of 32 users 29 feel that Mobile Banking Services is useful and rest 3 users feel that it not much requires.

13.

Do you feel secure in banking from your Mobile?

12 10 10 Respondents 8 6 6 4 4 2 2 0 Businessmen Private Employees Govt. Employees Students 0 2 4 4 Yes No

Classes

INTERPRETATION:
Out of 32 users 18 feel yes it is secure in banking from our mobile and rest 14 feel that no it is not secure banking in our mobile.

FINDINGS

As per this survey: Out of 100 respondents only 88 respondents are aware about the mobile banking services. All 28 private sector employees included in sample are fully aware about mobile banking services. Out of 26 businessmen, 20 govt. employees and 26 students included in sample 4 businessmen, 2 govt. employees and only 6 students are not aware about the mobile banking services. Out of 56 Non-Users, 20 respondents have no utility, 12 are scared for risk, 12 have lack of knowledge, 10 are not using this services because of they prefer net banking and facility is not available in her bank only 2 have a technical problem regarding this services. Out of 56 Non-Users not possess the services so if the bank given the information regarding mobile banking services in a right way then 30 respondents are avail these services and Rest 26 respondents are not avail these services. Out of 32 users, 28 respondents use the SMS 2 private employee use both SMS and IVR, Rest 2 Businessmen use both SMS and WAP. Out of 32 users, 20 respondents avail these services for ubiquitous (anywhere, anytime), 2 respondents has received it for fast reaction to market developments, 2 respondents has avail this for time saving, 4 respondents has use for others purpose like free availability and overview over bank accounts and Rest 4 respondents avail this services for both time saving and ubiquitous.

 Out of 32 users, 12 respondents has use these services for Balance Enquiry, 8 respondents has use for Accounting Transaction, 10 respondents has use for both Accounting Transaction & Balance Enquiry and Rest 2 respondents use the services accounting transaction, Balance Enquiry and bill payments. Out of 32 users only 3 have face problem for Network Accessibility, 6 users have faced the problem of Access Speed, 3 have faced others problem like security concerns, fear for hackers and complicated and rest 20 users faced no problem regarding these services.

SWOT ANALYSIS

Strength
Aggression towards development the existing standards by banks. Strong regulatory impact by central Bank to all the banks. Presence of intellectual capital to face the change in implementation with good quality.

Weakness
Poor Technology infrastructure Ineffective risk measures Presence of more number of smaller banks that would likely to be Impacted adversely

Opportunities
Increasing Risk management Expertise. Need significant Connection among, business Credit & risk management and Information Technology. Advancement of technologies. Strong Asset Base would help in bigger growth.

Threats
Inability to meet the additional Capital Requirements loss of Capital to the entire banking system due to merger and acquisitions Huge investments in Technologies.

CONCLUSION

Mobile banking is indeed helpful especially during a situation where banks are not present and a transaction is needed to be done at that point of time. It provides a more secure way of making transactions instead of carrying cash; it facilitates transactions such as deposits and withdrawals. For users.. The users are availing these services for convenience (anywhere, anytime) and rest of the respondents avail for time saving, free availability and fast reaction to market developments. Services of SMS usage is one of the highest in the Udaipur in ratio to population. Most of respondents avail this service for balance enquiry. The major challenges in using these services are network accessibility, access speed, security concerns. Always take care while using Mobile Banking Services. Virtual access to the money.

For non-users Most of the respondents (about 88%) are aware about the mobile banking services but they do not know the rules, regulations & functionality regarding these services. About 35% respondents do not avail this service because they feel that it does not carry any utility for them. This study also reveals that people are aware about these services but they do not have adequate knowledge regarding the Mobile banking services. People are reluctant to use these services because of the possible risk attached with it. Some of non-users not avail this service because of this facility not provided by their bank especially public sector bank. Some of respondents prefer Net Banking.

SMS balance alerts may prove to be a good starting point for mobile banking strategy, but the industry now requires a greater understanding of how to establish a mobile relationship with customers, one that new customers increasingly demand and new technology provides.

Finally Mobile Banking users consist of a very small minority. Consumers are more inclined to the basic services of mobile banking rather than its intricate processes.

RECOMMENDATIONS

Mobile banking is not for every customer today, but the range of potential services on offer means that it can become a very flexible customer tool. Mobile banking applications must be introduced on a step-by-step basis and the bank should give adequate knowledge to its customers prior to introduction of these services.

For the mobile banking services providers banks -------- The knowledge about this should be provided for every step, not only for valued customers of the bank but all persons who are related with the account of the bank. Commitments related to the charges, should be fulfilled. Bank should give full knowledge about the services of mobile banking to its potential customers. More strict security measures are required to avoid the risks and fraud. Full transparency in the rules and regulations should be known to the customers in advance. Accessibility speed should be faster. There should be support of M-Banking network in rural areas.

Finally, Mobile Banking Services concept is an innovative concept but need to create more education and awareness among the people. Users of mobile phones will increase in the future for the banking industry to continue investing in mobile banking.

QUESTIONNAIRE

Questions:
1. Are you customer of bank? Yes () No ()

2. Do you know about Mobile Banking? Yes () No ()

3. Are you user of Mobile Banking services? Yes ( ) If No, 4. What are the reasons for not using Mobile Banking services? Lack of Knowledge Risk Technical problem No Utility () () () () Others______ No ()

5. If your bank has given you the information in regarding to Mobile Banking services, would you like to avail these services or not? ____________________________________________________

If Yes, 6. Of which bank you have taken Mobile Banking services? _____________________________________________________

7. What are the reasons behind taking the services from this bank? _____________________________________________________

8. Are there any charges in these services? ___________________________________________________

9. What mode of communication do you use in mobile Banking? Short Messaging Service (SMS) Interactive Voice Response (IVR) Wireless Internet Protocol (WAP) Both 1& 2 Both 1 & 3 () () () () ()

10. Reasons for availing these services? Ubiquitous (anywhere, anytime) Fast reaction to market development Time Saving Both 1 & 3 Others _________ () () () ()

11. What are the major services you use in Mobile Banking? Balance Enquiry Accounting Transaction Bill Payments Both 1& 2 Both 1, 2& 3 () () () () ()

12. How many times you use Mobile Banking services in a month? Never Frequently Always Sometime () () () ()

13. Do you face any problem? Yes () No ()

If Yes, Network Accessibility Access Speed () () Others________

14. Do you feel, Mobile Banking is useful or not? ____________________________________________________

15. Do you feel secure in banking from your mobile? ____________________________________________________

16. Please give your valuable suggestions. _____________________________________________________

BIBLIOGRAPHY

Websites:
www.google.co.in www.wikipedia.com www.gsmworld.com www.infogile.com [1] Harris, W. (2008). http://money.howstuffworks.com/personal-finance/banking/mobilebanking.htm