Abstract
The fundamental commotion of twenty first century verve of ‘banking’ is transformed by the perception called Internet banking or online banking. Internet banking is accomplished by means of a personal computer or any itinerant piece of equipment presenting internet connection. All the banks in India offer Internet banking with a nexus of transactions in addition to an informational source. In spite of scores of incentives, there are certain issues affecting its practice. It is realized that there are a number of psychological and behavioral aspects persuading the acceptance of any new advancement such as Internet banking. It comprises of clientele understanding, availability, safety measures, user-friendliness, techno phobia or lack of enthusiasm to alter, penchant for tailored services and outlay of espousing the new advancements. This study is conducted to find out the barriers in utilizing the services offered by the banks through internet. The study also helps in understanding the opinion of the clientele on the banking through internet offered by their banks as well.This research paid an attention through exploratory method to recognize the issues acting as difficulties in the practice of the banking services offered through internet and rework the acuity of clientele on banking through technology. The sample clientele are the ones having account in private sector banks, without using internet banking services. A factor analysis test was conducted for the primary data to analyze. Though there are many advantages in using internet banking the barricades in practicing it by the clientele residing in the semi urban areas are cost, lack of infrastructure, traditional banking, unfriendly web site, not aware and reluctance to change.
Highlights
Internet banking is definitely a noteworthy progress in bank segment
The aptitude to lug out banking, communications and transactions all the way through the Internet has authorized clientele to accomplish their financial transactions from their homes
The internet bank pays back both bankers and clientele since it is cost-effective, time saving, making banking faster and convenient
Summary
Internet banking is definitely a noteworthy progress in bank segment. The aptitude to lug out banking, communications and transactions all the way through the Internet has authorized clientele to accomplish their financial transactions from their homes. Internet banking facilitates the clientele the right to use every banking information concerning their bank account and dealings from anywhere, anytime. This enables the clientele to habitually supervise their account and maintain a track of financial transactions as well. The internet banking in India was first introduced by ICICI It was understood by the private banks that, without the technology like the internet, it is very hard to survive in the field and the possibility of getting connected with the clientele from any place and at any point of time cannot be achieved at ease. There are seven new age private sector banks functioning in India started functioning after 1996 They are ICICI, HDFC, AXIS, INDUSIND, Kotak Mahindra, Development Corporation bank and YES bank. The private sector banks have branches both in urban and the semi urban areas in the district (District Industries Centre, 2009)
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