M-Banking and the rural India yet a galactic distance (original) (raw)
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International Journal of Information Engineering and Electronic Business
An information technology is a part of modern society for completion of their daily schedule with sophisticated accuracy, effectiveness, efficiency and maintaining transparency. However, modern technology penetration into root level in modern Indian society is not in an appreciable in particular of rural India. Among different applications of wireless communication means a significant application is m-banking. Mobile banking mainly concerned the things of a transaction as well as financial services. In this paper, we discuss adaptation strategies and make an analysis of rural consumer behavior about mobile banking. Similarly, we discuss different mobile banking facilities and upcoming facilities which should be utilized by rural Indian people to connect rest of the world with efficiently. With that, we have a study, which factor play significant roles in rural India for deep penetration of mobile banking. As well as, study about his behavior and make an analysis of rural consumers for adaptation of beneficial technology and services to come out from a root and play at tip position in modern society. It is evident in recent time that mobile devices or handheld devices like PDA (Personal Digital Assistance) application are widespread due to its cost, ease of use, efficiency, and effectiveness. But optimum penetration exhibit inhibits by social misconception such as security and not maintain transparency before, during and after transactions.
Scope and problems of m-banking solution for unbanked: A review of indian economy
Journal of Banking Financial Services and …, 2011
With the help of modern information communication technology, m-banking as a new type of banking services carrier can provide efficient and effective financial services for unbanked and rural peoples in India. Increased cellular subscribers in rural India are offering wide opportunity to expand m-banking services. However, in spite of opportunities there are numbers of problems and threats in m-banking system. Their major shortcomings are network coverage, security, low cost effectiveness, inconvenience in using mobile handset, IT literacy etc. The outcome of the paper is a defined set of customer requirements to m-banking services in India and an explanation of major failure reasons along with opportunities for their improvement.
Journal of emerging technologies and innovative research, 2018
Mobile banking can be considered virtually to be the bank in your pocket. While the urban folk is availing the most of its advantages, it is yet a distinct proposition for the rural sector to witness its presence in a full swing and reap the benefits thereof. In a way, the rural India is not yet ready to become aware of the technicalities associated there to, for that matter the electronic transaction itself is not comprehensible in their mind-set. This hiatus is not shrinking despite the perennial efforts of the banking sector to induce the concept into the public minds, especially with regard to rural India. The rationale behind this research paper is to make an in-depth analytical study of the contributing factors for this occurrence and explore the ways & means to bridge the gap progressively. A survey has been conducted by taking a sample size of 720 respondents out of 1200 rural habitants surveyed of different demographics of Srikakulam district, Andhra Pradesh, India via self...
The growth of technology has strongly pierced every type of business. The word business can now aptly be replaced by E-business. The globalization of various sectors of the country paved a way for drastic changes in the business and economic system. The paradigm shift is seen in the dimensions of several sectors from manual systems to automated systems, one such sector is undoubtedly banking sector. Every transaction of the-banking is now transformed into e-records and e-transactions, which has completely changed the-banking scenario. It is operating with the best technology by minimizing the human resource cost and free from misrepresentations and errors. The banks are now in the race of success with automated operations. Therefore presently the new branches are opened in the rural area to set in the competition; however it is not an easy strategy to tackle the competitors because of inherent limitations. The rural mass are unaware of the technological usage offered by the bank, hence the cost or technology may increase and may put break for the rate of success. This study has thrown much light on the level of usage of e -banking services by the rural mass through the bankers response in Malavalli taluk of Mandya district . The results are reflected as the way it can be inferred.. The majority of the rural mass is negligibly utilizing the e-banking services thus creating huge problems for the bankers in the form of increase of the cost.
CUSTOMER PERSPECTIVE ON ONLINE MOBILE BANKING IN INDIA -AN EMPIRICAL STUDY
Advancement of technology has brought in radical changes in banking industry. Computerization and networking, core banking, automatic teller machine connecting any customer of any bank in any branch with a customer in any other bank in the country has made banks customer friendly. One of the latest introduction is mobile banking. A country with highest number of mobile users, it has enormous potential in changing the outlook of banking in India and reaching the remote village in any part of the country. It is argued that online mobile banking system has close correspondence with ideal banking system. This paper discuses the objectives, methodology, advantages and benefits of online mobile banking facility offered by the banks to the customers. A detailed review of literature is done on development of online banking in different developed and developing countries including India to analyse the gap of online banking in India. The significance of online mobile banking in India are discussed by considering seven native reasons namely (1) Essentiality of mobile device rather than luxurious, (2) Continuously decreased price of mobile devices, (3) Low usage cost, (4) Availability of services in rural areas, (5) Integration of various service applications within a device, (6) Improved willingness to use mobile devices, and (7) Improved economic conditions of the people. An empirical study on customer acceptance of mobile banking is carried out by developing six hypotheses. Factors affecting the actual use is studies through focus group method as the qualitative data collection instrument. The factors identified in this study include demography of customers, personal banking experience & incentives, technology experience, psychology & culture, and security & trust. The hypotheses are tested using primary data collected through questionnaire method, data are analyzed and the results are discussed.
E-BANKING IN RURAL INDIA -WITH SPECIAL REFERENCE TO ERODE DISTRICT, TAMIL NADU
Scientific Research Journal, 2018
In recent times the Indian population has started availing the facilities of the banks. E banking trend is spreading at a faster rate in all the countries. Banks provide internet banking services to its national and international customers. Internet banking is very cost effective and speedy processing method. The background of the study was to find out whether this advancement of banking technology reach rural areas. The study objectives were framed 1. To study the impact of demographic factors on the awareness level of respondents about E-Banking. 2. To find and analyze the factors influencing use of E-banking. 3. To find out the opinion of the respondents regarding the various problems of E banking. The study was conducted collecting information through structured questionnaire from 250 respondents of which 52.8% of the respondents are male and 47.2% of the respondents were female. It was found that 55.2% were holding accounts in public sector banks and 44.8% of the respondents in private sectors banks. Around 31.2% of the respondents revealed that they have not used the E banking facility so far. The main reasons for not using the E banking facility being lack of user friendly bank websites and lack of high speed internet. To increase the number of E banking users in rural areas, the banks must provide adequate training to customers, encourage the customers to use the facility and also provide user friendly website.
A Study to Examine the Factors Influencing M-Banking Adoption in India
Shanlax International Journal of Management, 2021
Purpose: The purpose of the study was to examine the factors influencing the adoption of m-banking in India. For this study, four factors,namely, Perceived Usefulness, Perceived Ease of Use, Habit andTrustwere used to determine the consumer perception ofm-bankingadoption in India.Methodology/Approach: An online survey was conducted to collect data from 113 consumers using m-banking in India. IBM SPSS was used to test the conceptual model and to validate and statistically analyze the results.Findings: The factors Perceived Usefulness and Trust were found to be significant on Behavioral Intention, whereas Perceived Ease of Use and Habit was found to be not significant.Implications: Banking and Financial organization can use the results from the study to strategize and to attract consumers to adopt m-banking in India.
Journal of Xidian University, 2020
The growth of digital banking has transformed the face of Indian Banking System and a new term has emerged i.e. Anywhere Banking. The customers who were previously waiting in a long queue in banks just to withdraw money to use hard cash for the purpose of payments, to transfer the money to a distant person through NEFT or RTGS and sometimes to update the passbook to know their present bank balance, are now doing all such banking transactions with a mere click of mouse or with a mere touch of finger on their cell phone. Besides that, soon after the demonetization the businesses are required to use digital banking according to the prevailing situation. Though digital banking facilitates a lot to the consumers as well as businesses, but there is still a dark side of such facility due to which many consumers and businesses hesitate to use Digital banking. There is a need to highlight the dark aspect so that the bankers could work on such causes to remove the hesitation among their customers. This paper is an attempt to find out and critically analyse the causes behind the hesitation of using digital banking by MSMEs (micro, small and medium enterprises) in Bihar. Moreover, the most responsible cause for the hesitation in using digital banking among MSMEs in Katihar District of Bihar has been pointed out with the help of hypothesis testing. The suggestions to overcome the hurdles in using digital banking are also covered in this paper.
The Factors Influencing the Usage of Mobile Banking in India
International Journal of Business Management & Research, 2019
The Indian banking industry is poised to become the world's fifth largest by 2020 and third largest by 2025 (KPMG-CII report-"Distribution Disrupted"). The Indian banking sector comprises of 26 public sector banks, 20 private sector banks and 43 foreign banks along with 61 regional rural banks (RRBs) and more than 90,000 credit cooperatives. The impetus of the current government at the center, to expand the footprint of the banking facility to the hinterlands and to aggressively achieve the objective of financial inclusion, means that the banking industry is in for rapid expansion and growth. Given the geographical expanse of the country, the growth and expansion of this magnitude has to be ably supported by the extensive support of technology, the use of which is widely evident in the utilization of the latest technologies to conduct transactions, communicate with customers and provided better customer service. The application of Information Technology enables banks not only helps automate its processes but also communicate and connect with its customers seamlessly. With plethora of online applications in the offing, ranging from payment of bills, to conducting transactions and receiving communication, the banking industry is heavily banking on the adoption of such tech-applications as it would mean rapid expansion at a considerably low cost in comparison to the brick-and-mortar model. Through this study the author(s) intend to determine the factors that influence the usage of mobile banking services among customers. These factors are divided into two groups in terms of their impact; the first group represents the factors that drive customers to use mobile banking services, referred to as "Motivating Factors" and the secondgroup represents the factors that pose obstacles towards the use of mobile banking services, referred to as "Inhibiting Factors". This study draws on the model proposed by Mahmood Jasim Alsamydai et al in a similar study conducted in Jordan and includes additional factors viz; intention, attitude, perceived usefulness, and the usage of mobile banking.
The mobile internet in India is growing in a remarkable phase; The Indian banks as an innovative approach have introduced mobile banking applications for the smart phone users. This article attempts to compare and analyze the mobile banking application provided by various banks, 35 nationalized banks be selected for the study and grouped under various sectors like public sector banks, old private sector banks, new private sector banks and foreign banks. Analytical research was followed in the article, the results showed that the new private sector banks are having greater satisfaction level compared to the other sectors and the old private sector banks are having lower satisfaction levels from the customers' viewpoint in the internet mobile banking platform.