Online Banking In India

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“Abstract”
Although online banking plays a significant role in banking institutions, fewer studies have concentrated on customer satisfaction and adoption mainly in the Indian origin. The main objective of this study was to identify and determine the various factors that influence the decision of consumers’ for adoption of online banking service and to determine the relationship among Online banking service, customer satisfaction and customer adoption. For the collection of data, a questionnaire was used. The questionnaire was designed on a 5-point Likert scale. This study determines that there is a positive relationship between customer satisfaction and online banking. This study suggested that individual customers should be focused for business
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2007”, although internet has its own significance in the banking institutions because the benefits of internet has been provided to customers as well as banking institutions, but the fact is still in India, not all the financial institutions have adopted the online banking service to its customers. Even few institutions have already established the online banking system successfully. Even in India inadequate web designing and other factors also impact on the decision of the customer to adopt online baking or not. In India the concept of online banking came into existence for around one decade back but most of the banking institutions had taken much amount of time to provide the service of online banking to its customers. In India initially it was a tough task to the banking institutions to convert the customers to use online banking system rather than traditional banking system because of fear, inadequate knowledge about the computers, non availability of computers, the problem of internet and the universal problem of India i.e. limited availability of electricity. The main objective of this concept was to minimize the cost of banking services being rendered to its customers and to reduce the long queues at the bank counters which help the banking institution and the customers as well. Other objective was to save the time and energy of both the entities i.e. bank staff and …show more content…
Till now only few banking institution have successfully developed these services in developing countries while others are still in planning and implementation stage of online banking service to provide the reasonable facility which is a need of time to its customers. It is being observed that customers of banking institutions are still not comfortable to use the services. This attitude of the customers spreads negative vibrations in the market for introduction of new products. It can be determined that many times innovative ideas fail because of the customer adoption and satisfaction rate. Moreover, the companies rendering these services to its customers should identify the prospective adopters. Even it is a very critical task for the service provider to identify the adopters and their personal characteristics and the various innovative features required by the customers of the institutions. Baraghani (2007) stated that in the modern era of new technologies, initially customers gather all the information about the product, decide to purchase or use the product, analyze the pros and cons of the product and after complete analysis give their consent for confirmation or not. It can be concluded that initially consumers prepare themselves to use the product or service. It is a lengthy process to

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