ABSTRACT

The Online Banking Services are increasing day by day in the banking sector
in India. In this paper aims to examine the Online Banking Services of the
Banking Sectors in India. In this study used to collected data from primary
and secondary sources which are collected from Bank Managers, Website and
other sources. The Online Banking Services such as ATM-Automated Teller
Machine, Personal Computer Banking, Phone Banking and Mobile Banking,
Email Banking. The researcher concludes that through effective regulation,
creating awareness of the Banking Customers.
This project aims at creation of a secure Internet banking system. This will be
accessible to all customers who have a valid User Id and Password. This is an
approach to provide an opportunity to the customers to have some important
transactions to be done from where they are at present without moving to
bank. In this project we are going to deal the existing facts in the bank i.e.; the
transactions which takes place between customer and bank.

We provide a real time environment for the existing system in the bank. We
deal in the method transaction in the bank can be made faster and easier that is
our project is an internet based computerized approach towards banking.

Modules:

1. Balance enquiry

2. FundsTransfer to another account in the same bank

3. Request for cheque book/change of address/stop payment of Cheques

4. Viewing Monthly and annual statements.

5. System help.
 INDEX

CHAPTER TITLE PAG

E
NO
Chapter- 1 Introduction to Report
Chapter-2 2.1About company.
2.3History of the Bank
2.2Mission and vision
2.3Products and services
Chapter-3 Research Methodology

1. Primary data

2. Secondary data
Chapter-4 Data Analysis
Chapter-5 Conclusion.
Chapter -6 Suggestions.
Chapter- 7 Bibliography.
 INTRODUCTION

In the present scenario online services have become an added feature in the
banking sector.Online banking or Internet banking allows customers to
conduct financial transactions on a secure website. Credit goes to internet that
provided ultimate ease to the customers at their door step. Online banking
allows people to perform all the banking related activities such as money
transfer, past transactional information, cash withdrawals and deposits etc
with a just one click of a mouse. Clients can easily check the account balance
every day just by visiting the website of their bank. This provides the place
and time utility to people provided if one has Internet access. Online banking
also eliminates unnecessary waste, which an organization incurs in the form of
office supplies. This facet has also helped in meeting the social concerns.
However, using internet for money transaction is never been free from risk.
More importantly, security is always been an issue with Internet transactions.

Despite several counter measures taken by the banks in the form of

information encryption, firewalls, etc but still reluctance prevails in relaying
totally at online banking especially in developing countries like India. This led
to the foundation of this study. The core purpose of this research study was to
figure out the most critical factors having an impact on consumer perception
towards online banking in India with the help of Technology Acceptance
Model (TAM)(Davis and Venkatesh, 1996; Davis et al., 1989).Online banking
was introduced in the 80’s but its growth across the globe took place in the
90’s. Europe has been and still is the leader in Online banking technology and
usage (Schneider, 2001). In Hyderabad city, many of banks introduce online
banking. By introducing online banking, its help to build reputation and
increasing the customers towards banks. Online banking, also known as
internet banking, e-banking or virtual banking, is an electronic payment
system that enables customers of a bank or other financial institution to
conduct a range of financial transactions through the financial institution's
website.
 ABOUT BANK
The Housing Development Finance Corporation Limited (HDFC) was
amongst the first to receive an 'in principle' approval from the Reserve Bank
of India (RBI) to set up a bank in the private sector, as part of the RBI's
liberalisation of the Indian Banking Industry in 1994. The bank was
incorporated in August 1994 in the name of 'HDFC Bank Limited', with its
registered office in Mumbai, India. HDFC Bank commenced operations as a
Scheduled Commercial Bank in January 1995. As of December 31, 2020,
the Bank had a nationwide distribution network 5,485 branches and 14,533
ATM's in 2,866 cities/towns

HDFC Bank comprises of a dynamic and enthusiastic team determined to

accomplish the vision of becoming a World-class Indian bank HDFC bankas
business philosophy is based on our four core values - Customer Focus,
Operational Excellence, Product Leadership and People. They believe that the
ultimate identity and success of their bank will reside in the exceptional
quality of people and their extraordinary efforts. They are committed to hiring,
developing, motivating and retaining the best people in the industry.
HDFC Bank's mission is to be a World Class Indian Bank The objective is to
build sound customer franchises across distinct businesses so as to be the
preferred provider of banking services for target retail and wholesale customer
segments, and to achieve healthy growth in profitability, consistent with the
bank's risk appetite. The bank is committed to maintain the highest level of
ethical standards, professional integrity, corporate governance and regulatory
compliance. HDFC Bank's business philosophy is based on four core values -
Operational Excellence, Customer Focus, Product Leadership and People.
 HISTORY OF THE BANK

A subsidiary of the Housing Development Finance Corporation, HDFC Bank

was incorporated in 1994, with its registered office in Mumbai, Maharashtra,
India. Its first corporate office and a full-service branch at Sandoz House,
Worli were inaugurated by the Union Finance Minister, Manmohan Singh.

As of 30 June 2019, the Bank's distribution network was at 5,500 branches

across 2,764 cities. The bank also installed 430,000 POS terminals and issued
23,570,000 debit cards and 12 million credit cards in FY 2017.

It was founded in 1977, as the first specialised mortgage company in India.

HDFC was promoted by the Industrial Credit and Investment Corporation of
India (ICICI). Hasmukhbhai Parekh played a key role in the foundation of
this company. In 2000, HDFC Asset Management Company launched its
mutual fund schemes.

In 1994, Housing Development Finance Corporation (HDFC) received an 'in

principle' approval from the RBI to set up a private sector bank. Incorporated
in August 1994 as 'HDFC Bank Limited', we received our banking license in
January 1995. Our first office was opened at Ramon House, Churchgate in
Mumbai.
 MISSION AND VISION

MISSION STATEMENT OF HDFC BANK

• World Class Indian Bank.

• Benchmarking against international standards.
• To build sound customer franchises across distinct businesses
• Best practices in terms of product offerings, technology, service, levels,
risk management and audit & compliance

To provide a package of attractive financial services for housing purposes

through a competent and motivated team of employees using the state of the
art technology to maintain financial stability and growth of the organization
whilst contributing to the national goal of providing decent housing to all.

VISION STATEMENT OF HDFC BANK

The HDFC Bank is committed to maintain the highest level of ethical
standards, professional integrity and regulatory compliance. HDFC Bank" s
business philosophy is based on four core values such as:

• Operational excellence.
• Customer Focus.
• Product leadership.
• People.

To be customer driven best managed enterprise that enjoys market leadership

in providing housing related finance.

The objective of the HDFC Bank is to provide its target market customers a
full range of financial products and banking services, giving the customer a
one step window for all his/her requirements. The HDFC Bank plus and the
investment advisory services programs have been designed keeping in mind
needs of customers who seeks distinct financial solutions, information and
advice on various investment avenues.
 PRODUCT &SERVICES

• Travellers Cheques
• Credit card
• Savings account
• Current account
• Fixed deposit
• Recurring deposit
• Home loan
• Personal loan
• Advacing of loans
• Loan against Property
• Car loan
• Educational loan
• Gold loan
• Business loan
• Over draft
• consultancy
• Foreign Currency Cash
• Foreign Currency Demand
Drafts
• Foreign Currency Cheque
Deposits
• Remittances
• Trade Services
• Mutual funds
• Insurance

1. Travellers Cheques : Travellers Cheques are a safe and easy way to

protect your money when you travel. You can encash them only
when you need to, and only against your signature, unlike cash
which can be stolen and misused by anybody, immediately.
• Credit Card : Credit Card can be used for all your requirements, be it
shopping, eating out, holidaying, fuelling up your vehicle, railway ticket
reservations - just about any financial requirement, planned.

• Savings account : A savings account is a type of deposit held at a bank

by the customers that lets them keep money safe in return for modest
interest rate provided by the bank. Savings with HDFC Bank is
preferred by the people in the country as the services provided by the
bank in addition to the savings accounts allow individuals to have a
user-friendly banking experience all under a single roof.Savings with
HDFC Bank has always been a favoured option as the bank has a
multitude of saving account solutions for customers with all types of
needs and requirements.

• Current Account : HDFC Bank offers 18 types of current accounts to

serve the needs of different businesses. Current accounts largely deal
with liquid deposits does not limit the number of transactions in a day
and easily allows for the withdrawal of funds.

• Fixed deposit : HDFC Bank offers fixed deposit schemes with high
returns to its customers for investing money. It also provides
preferential interest rates (0.50% additional) to senior citizens.

• Recurring Deposit : HDFC Bank offers a recurring deposit with a

minimum deposit as small as Rs. 1,000 or up to Rs. 14.99 per month
and with a minimum tenure of 6 months up to a maximum tenure of 10
years.

• Home loan: Home loans for individual to purchase or construct houses.

• Personal Loans : The procedure of personal loan is simple,

documentation is minimal and approval is quick.

• Advancing of Loans: Banks are profit-oriented business

organizations.So they have to advance a loan to the public and generate
interest from them as profit.After keeping certain cash reserves, banks
provide short-term, medium- term and long-term loans to needy
borrowers.

• Loan against Property : HDFC Bank customers can pledge their

property to meet the personal or business goals with 4 types of loan
against property. Customers can get up to 65% of one’s property’s
value, attractive interest rates, and hassle-free processing.
• Gold loan : HDFC Bank offers gold loan with a minimum loan amount
of Rs. 25,000 to its customers at a flexible interest rate, minimal
documentation & secure storage. Customers can get the funds instantly
& repay at their own convenience.

• Educational loan : HDFC Bank offers 3 types of education loan to its

customers studying across leading institutions in India & overseas to
fulfill their career goals & aspirations. Customers can also avail tax
benefits u/s 80 (E) of Income Tax Act, 1961.

• Business loan : HDFC Bank offers business loan to its customers of up

to Rs. 50 lakh to fulfill their unique business. It comes with easy
documentation, attractive interest rates, overdraft facility, and flexible
tenures.

• Overdraft: Sometimes, the bank provides overdraft facilities to its

customers through which they are allowed to withdraw more than their
deposits. Interest is charged from the customers on the overdrawn
amount. .

• Consultancy: Modern commercial banks are large organizations. They

can expand their function to a consultancy business. In this function,
banks hire financial, legal and market experts who provide advice to
customers regarding investment, industry, trade, income, tax etc.

• Foreign Currency Cash : Foreign Currency Cash is a convenient . way

of meeting personal expenses along your journey, paying for taxis /
internal travel, food expenses etc.

• Foreign Currency Demand Drafts : Demand Drafts are issued in

seven currencies like United States Dollars (USD), Great Britain
Pounds (GBP), EURO, Japanese Yen (JPY), Australian Dollars (AUD),
Canadian dollars (CAD) and New Zealand Dollars (NZD).

• Foreign Currency Cheque Deposits : We can directly deposit our

foreign currency cheques in to our saving or current account.
Remittances HDFC Bank offers the remittance facilities by which we
can send and receive money to anyone. They are categorized depending
on location and the urgency with which we want the money transferred.
 .

• Trade Service : HDFC Bank have people with high level of expertise
and experience in trade services to provide services to suit specific
requirements and structure solutions for business needs. HDFC Bank
have 500 branches for trade services.

• Mutual funds : Mutual funds are funds that pool the money of several
investors to invest in equity or debt markets.

• Insurance : HDFC Bank offers a world of choice in insurance. Like -

children future plans, retirements plans, standard life, etc.
• Car loan : HDFC Bank helps to finance the dream of buying a new car
for its customers with up to 100% funding. Customers can opt for 3
types of car loans as per their requirement with 7 year loan tenure,
quick disbursal, and processing.
 RESEARCH METHODOLOGY

PRIMARY DATA

Raw data, also known as primary data, are data (e.g., numbers, instrument
readings, figures, etc.) collected from a source. In the context of examinations,
the raw data might be described as a raw score.

If a scientist sets up a computerized thermometer which records the

temperature of a chemical mixture in a test tube every minute, the list of
temperature readings for every minute, as printed out on a spreadsheet or
viewed on a computer screen are "raw data". Raw data have not been
subjected to processing, "cleaning" by researchers to remove outliers, obvious
instrument reading errors or data entry errors, or any analysis (e.g.,
determining central tendency aspects such as the average or median result). As
well, raw data have not been subject to any other manipulation by a software
program or a human researcher, analyst or technician. They are also referred
to as primary data. Raw data is a relative term (see data), because even once
raw data have been "cleaned" and processed by one team of researchers,
another team may consider these processed data to be "raw data" for another
stage of research. Raw data can be inputted to a computer program or used in
manual procedures such as analyzing statistics from a survey. The term "raw
data" can refer to the binary data on electronic storage devices, such as hard
disk drives (also referred to as "low-level data").

Data has two ways of being created or made. The first is what is called
'captured data', and is found through purposeful investigation or analysis. The
second is called 'exhaust data', and is gathered usually by machines or
terminals as a secondary function. For example, cash registers, smartphones,
and speedometers serve a main function but may collect data as a secondary
task. Exhaustive data is usually too large or of little use to process and
becomes 'transient' or thrown away.
MODES TO COLLECT PRIMARY DATA:

1.DIRECT PERSONAL INTERVIEWS: The investigator personally meets

concerned individuals and collects the required information from them. When the
area to be covered is vast, this method may prove very costly and time-
consuming. Still, this method is concerned useful for certain laboratory
experiments or localized inquires. Due to the personal bias of the investigator,
errors are likely to influence the results.

2.INDIRECT PERSONAL INTERVIEWS: We interview the third parties or

witnesses having information, whenever the direct sources do not exist, or the
informants hesitate to respond for some reason or other. The reliance is not placed
on the evidence of one witness only, because some of the informants are likely to
give wrong information deliberately.

3.COLLECTION THROUGH QUESTIONNAIRES: The questionnaires are

usually sent by mail to inquire through several pertinent questions. In
questionnaires, there is a space for entering the asked information asked. The
informants are requested to return the questionnaires to the investigator within a
certain period. This method is cheap, reasonably expeditious, and good for
extensive inquiries. However, only a small percentage of recipients respond to
questionnaires if there is no incentive involved.

4.COLLECTION THROUGH ENUMERATORS: In this method, trained

enumerators collected the information. They assist the informants in making the
entries in the schedules or questionnaires correctly. If the enumerator is well
trained, experienced, and discreet, then you can get the most reliable information
through this method. Enumerator driven approach works best for a large scale
governmental or an organizational inquiry. Private individuals or institutions
cannot adopt this method as its cast would be prohibitive to them.

5.COLLECTION THROUGH LOCAL SOURCES: In this method, the agents

or local correspondents collect and send the required information, using their
judgment as to the best way of obtaining it, but there is no formal collection of
data. This method is cheap and expeditious but gives only the estimates. It may
involve local agents' bias.
 SECONDARY DATA

Secondary data refers to data that is collected by someone other than the
primary user. Common sources of secondary data for social science include
censuses, information collected by government departments, organizational
records and data that was originally collected for other research purposes.
Primary data, by contrast, are collected by the investigator conducting the
research.

Secondary data analysis can save time that would otherwise be spent collecting
data and, particularly in the case of quantitative data, can provide larger and
higher-quality databases that would be unfeasible for any individual
researcher to collect on their own. In addition, analysts of social and economic
change consider secondary data essential, since it is impossible to conduct a
new survey that can adequately capture past change and/or developments.
However, secondary data analysis can be less useful in marketing research, as
data may be outdated or inaccurate.

Secondary data can be obtained from different sources:

• Information collected through censuses or government departments like

housing, social security, electoral statistics, tax records
• internet searches or libraries
• GPS, remote sensing
• Books, Magazine, News paper, etc.

Secondary data is available from other sources and may already have been
used in previous research, making it easier to carry out further research.
Administrative data and census data may cover both larger and much smaller
samples of the population in detail. Information collected by the government
will also cover parts of the population that may be less likely to respond to the
census (in countries where this is optional).A clear benefit of using secondary
data is that much of the background work needed has already been carried
out, such as literature reviews or case studies Secondary data is key in the
concept of data enrichment, which is where datasets from secondary sources
are connected to a research dataset to improve its precision by adding key
attributes and values. Secondary data can provide a baseline for primary
research to compare the collected primary data results to and it can also be
helpful in research design.
 DATA ANALYSIS

Digitisation is a strategic focus area for HDFC Bank and an important marker
of its performance. Since inception, we have led the digital transformation of
the Indian financial services sector and continue to invest in technologies to
improve customer experience and enhance efficiencies. This is changing the
paradigm by redefining financial services and designing products and services
by always keeping the customer at the centre.

We are challenging our own model of creating anddelivering products and

services through the channels. Today, it is important to be present where the
customer is. And, to offer contextual and personalized solutions seamlessly, in
real time, using analytics and predictive capabilities. Customers are provided
a choice of platforms to access financial services at their convenience.
Partnerships with platform players and fintechs play an important role in
delivering products digitally.

Our digital offerings cater to all segments – mass retail, mass affluent, high net
worth in retail and wholesale (MSME).

Digitization is of crucial importance to data processing, storage and

transmission, because it "allows information of all kinds in all formats to be
carried with the same efficiency and also intermingled". Though analog data
is typically more stable, digital data can more easily be shared and accessed
and can, in theory, be propagated indefinitely, without generation loss,
provided it is migrated to new, stable formats as needed. This is why it is a
favored way of preserving information for many organizations around the
world.
 Digital 2.0

Digital 2.0 is the next phase of our digitisation journey. We are collaborating
and partnering with diverse participants in the digital ecosystem, primarily
focusing on:

1. Reimagining customer journeys and experiences.

2. Enabling differentiated experiences through applications, APIs and

analytics
• Developing new platforms and applications
• Creating APIs to enable new user stories
• Powering customer interactions through analytics

3. Shaping customer preferencesthrough innovations

4. Empowering virtual banking to engagewith customers through

technology.
Our performance:

During 2019-20, we performed well across key areas of Digital 2.0. We

enhanced our presence across multiple digital platforms and touch points
frequented by customers, providing them with greater convenience. Taking
our digital adoption to the next level, we have worked towards a more
intuitive, relevant, contextual, personalised and omnichannel experience.

We launched a fully digital account opening process

which helps us acquire new customers in a few minutes.
Our assets and cards customer journeys are also being
re-imagined to make them more contextual, real time,
predictive and frictionless. These will also help ensure
business continuity in the face of unforeseen
circumstances such as lockdowns.

We launched our new public website and MobileBanking app in 2019 which
have received widespread acceptance among our customers. The number of
visitors to our public website stands at 55 Million per month. The number of
customer queries handled by our AI assistant EVA has grown to 23 Lakh per
month. We have augmented relevant user journeys, customer-centric narratives
and shifted towards providing a lifestyle banking experience. Analytical
engines are being used for real-time contextual communications. We are
reaching our customers now with the most relevant next-best- call-to-action.
‘SmartHub’ is our new digital payments solution with over 17 Lakh merchant
acceptance points ranging across scan and pay QR codes, Android POS,
Mobile POS, link-based web solutions and payment gateway, we are the
leading acquiring bank, processing over 48% of the total merchant
transactions in the country. The ‘SmartHub Merchant’ app is especially
designed for self-employed and small businesses, which enables customers to
instantly open an account and become a merchant. This app is available in
nine vernacular languages and allows merchants to create their product
catalogue, run campaigns using WhatsApp and Facebook, and create their own
customer loyalty programme.

We provide the widest range of solutions to Central and state governments

across departments such as transit (Metro, bus, waterways, etc.), tolls
(national and state highways), FASTag, government disbursals and payments
– subsidies, direct benefit transfer (DBT), eNam, among others. We are also
providing end-to-end digital transaction
solutions in Smart Cities. The Bank has
recently been awarded the coveted Pune
Metro project.
Key initiatives during the year
Reimagining customer journeys and experiences HDFC Bank made a shift
from just digitising products to elevating experience digitally through
customer-centric journeys. We now offer our customers operational bank
accounts within minutes, at their convenience where they can fund them
instantly and start transacting straightaway. This capability, coupled with the
launch of the new video KYC service, will enable the customer to complete
their journey across products digitally. Our in-house digital studio, a ‘Centre
of Excellence’ for UI/UX aims to institutionalise human-centric design
thinking across all our digital initiatives and synchronise our offerings.

Our user experience design framework:

1. INSIGHT

Gather and comprehend the entire array of design challenges from all
stakeholders.

2. INSPIRE
Understand users by observing their lives, hear their hopes and desires, and get
smart on delivering creative solutions.

3. IDEATE

Make sense of everything that is heard, generate tons of ideas, identify

opportunities for design, and test and refine solutions.

4. IMPLEMENT

Bring solutions to life by customer validated and refined design as clickable

prototypes.

A truly empowering banking experience enables us to switch between modes

and transact across platforms. Therefore, our integrated services across
branch, Phone Banking, Mobile and Internet Banking offer a seamless, unified
and omni-channel experience to our customers. For
instance, the processing time for a loan application in a
branch or online are now almost similar. Also, our
customer satisfaction has improved through these
offerings and via virtual relationship managers. This has
resulted in a large number of digital products being
made available to our customers and a significant
improvement in their satisfaction levels, as evidenced in
the NPS Scorecard.
• Digital solutions for enterprise
We have built a vibrant enterprise ecosystem and are
making rapid progress to transition from the traditional
product- oriented approach to a customer-oriented
approach.
Customer on-boarding
• Analytics based pre-qualified offers and pre-approved
offers.
• System-generated sanctions.
• Straight through processing of limits.

Customer servicing
• Exclusive 24*7 self-servicing portal for MSMEs.
•ENET – corporate NetBanking with connectivity to customer’s ERP for
smooth accounting operations.
•Trade on Net (TON) supporting customers to carry out trade transactions
such as LC/BG online.

Monitoring and cross-sell

• One view provides a comprehensive view of customer relationship.
• Analytics-based assessment of credit risk and business potential.
• Analytical approach to statement analyser for account conduct and
monitoring.

Road ahead
• Provide post sanction documentation
digitally.
• Use Bots for customer servicing.
Enabling differentiated experiences through applications, APIs
and analytics:
• Applications and platforms:
At HDFC Bank, we are creating differentiated experiences for our customers
through various partnerships and alliances spanning platforms and
applications. ‘SmartBuy’ and ‘PayZapp’ are two such industry-leading
initiatives. SmartBuy is India’s first bank- initiated marketplace offering best
deals, accelerated rewards and experiences to customers. It drives high loyalty
as it covers all key categories like travel, hotels, e- shopping, rail & bus
bookings, electronics and so on. The platform has strong brands and partners
like MakeMyTrip, Yatra, Flipkart, Amazon, IRCTC, to name a few. PayZapp
is our comprehensive mobile payment solution offering ‘many ways to pay’
with a one tap experience. The app enables customers to do several online
payments and is accepted by over 2,000+ online merchants and brands.

• APIs driving customer journeys:

Banking now happens beyond the bank. APIs allow seamless and secure
exchange of information between the Bank systems and others. This enables us
to make our products and services available outside our platforms to all our
merchants and on platforms that our customers prefer (ecommerce sites,
messaging apps, modern trade POS, among others). We are developing several
APIs to cater to the entire spectrum of our customers’ financial needs, i.e.,
pay, save, borrow, invest, insure and shop. APIs for card issuance were
launched to expand the market with new partnerships for open- market
customer sourcing. Our API stack is best-in-class and contains real-time credit
and verification algorithms to be able toprovide an instant soft-approval to an
open- market customer. API sourcing is now live with multiple fintech
partners and with Indigo Airlines for the newly launched Ka-Ching Credit
Card.
 • Powering customer interactions using analytics
At HDFC Bank, big data analytics and Machine Learning enable us to get
better at acquiring, serving and retaining customers. We are leveraging these
technologies to make our digital campaigns more intelligent and cost-efficient.
This helps us in driving reach and relevance of our communication and makes
a direct business impact through unassisted closer to customers, but is also
enabling us to significantly increase the speed and convenience of service
while reducing operating costs.
A new capability for delivering in-store finance for new-to-bank and non-pre-
approved customers has been launched in select stores. This best-in-class
capability offers a paperless approval and disbursal process by providing near
real-time decisioning for customers by incorporating advanced analytics
capabilities,leveraging data from multiple sources. This will soon be deployed
across stores and will ensure a superior customer experience and product
delivery.
Omni-channel marketing campaigns: Powered by our data stack, we conduct
highly personalised and orchestrated campaigns. This enables customers to
view the same communication across all digital channels – website, email,
SMS, WhatsApp, paid channels, chatbot Eva, NetBanking and Mobile app.
This helps to increase the brand recall, purchase consideration and effective
business growth.

Empowering virtual banking to engage with customers through

technology

Started in 2017, this programme has been a huge success and is now a full-
fledged customer engagement channel, providing end-to-end services. We
now have over 5.6 Million customers that are engaged through Virtual
Relationship Management (VRM). This has matured into a full-fledged
service delivery channel.

We have further fortified this channel in 2019-20, with an aim to serve a larger
customer base in the future.
 o What is the unique proposition of VRM?
It offers the efficiency of technology and the personalisation of conversation
with a relationship manager.

o What are the services offered via VRM?

• Liability relationship
-- Insta account opening
-- Video KYC
• Asset relationship
-- Insta loans
-- Insta cards
• Customer service and engagement.
• Financial planning.

Shaping customer preferences through innovations

We are reimagining banking with Artificial Intelligence (AI). Our vision is to

make HDFC Bank a digital-first bank where every customer journey across
touch-points is seamless, contextual, predictive and frictionless. AI/ML are
becoming an integral part of the banking system. It is making our products
and services more intuitive and efficient by making them simpler, reducing
costs, mitigating risk, and improving experience. Our virtual assistant EVA is
India's first AI-enabled assistant. EVA is now capable of both acquiring and
servicing customers as well as processing banking transactions. EVA is also
extended to various other platforms like Google Assistant, Alexa and
WhatsApp.

RPA (Robotic Process Automation) is used extensively for

automating backend processes which is delivering higher productivity and
reducing turnaround times.
Key digital innovations in 2019-
20:

My Account My Choice:
Our CASA customers can choose any account number of their choice while
opening an account; 66,000+ accounts activated with book balance of over
`5,000 Crore Key digital innovations in 2019-20.

Card-less cash withdrawal:

Customers can withdraw cash from HDFC Bank ATMs without ATM card;
`6.5 Crore withdrawals through 21,000+ transactions.

WhatsApp Banking:
Official account of HDFC Bank on WhatsApp for customer servicing,
banking, acquisition and communication; 64 Lakh requests served and 10
Lakh active users.

Smart slips:
Enable customers to fill in cash deposit, withdrawal and cheque deposit slips
through NetBanking using a reference ID, and complete the transaction at a
banking outlet.
myApps: A suite of apps for large institutions.

In another industry-first, we launched myApps, a suite of applications this

year. myApps offers digital payment modes and other value-added services
for four key segments – urban local bodies, including smart cities, housing
societies, clubs and religious institutions to enable digitisation of their entire
ecosystem. Members can make payments for utilities and fees, book facilities
online, stay updated on latest announcements, and utilise other services
offered by these institutions. The institutions also get easy access to reports on
payments, facilities booked by members, requests, complaints registered and
much more.
Transferring Funds With HDFC Bank's UPI
(Unified Payment Interface)
•Simple to use:-
No addition of beneficiary required
Transaction can be done using beneficiary's UPI ID only (no other bank details
required)
•Ease of Access:-
Easy to access on your mobile phone
Non-HDFC Bank customers can use it via non-login section of Mobile Banking App
•Secure transactions:-A
ll UPI transactions are authorized using a unique UPI PIN that you set for the account
•Availability:-
Available 24*7, 365 Days
•Our UPI Apps:-
Mobile Banking App (handle – hdfcbank)​​
•Partner UPI Apps

Google Pay (handle – okhdfcbank)

Mobikwik (handle – ikwik)
Just dial (handle - hdfcbankjd)
Realme Paysa (handle - rmhdfcbank)​​
Whatsapp (handle - wahdfcbank)

•IPO Application using UPI

Click : https://www.npci.org.in/what-we-do/upi/live-ipo

•Maximum Limit

Rs 1 Lakh or 10 Transactions (calculated on 24 Hours basis)

Please note: The limit of 10 transactions is only applicable for fund transfer and doesn't include Bill
pay transactions and merchant transaction.

Note: New UPI users or users who have changed their device / sim card / mobile number can
transact only up to Rs 5,000/- for the first 24 hours on Android phone & 72 hours for iPhone users.

•For HDFC Bank Customers

Create a BHIM / UPI ID
Click on the 'BHIM UPI Payment’ icon on the bottom of HDFC Bank Mobile Banking App
An auto SMS for device biding & security will be generated. Send this SMS (standard SMS charges
will be applicable)
Create an UPI ID. E.g. your Mobile no as your UPI ID like 98XXXXXX21@hdfcbank.
Select HDFC Bank account number to be linked to UPI ID.
Generate 4 digit UPI PIN using debit card details & UPI registration is done.
Pay Money using BHIM / UPI
Click on 'BHIM UPI Payment’ icon on the bottom of HDFC Bank Mobile Banking App
Enter the 6-digit App password
Click on 'Send Money'
You can select to pay via
UPI ID of beneficiary
Account no. & IFSC
Mobile No. & MMID
Enter the Amount and other details
Enter 4 digit UPI PIN and Pay.
Pay Money using BHIM / UPI
Click on 'BHIM UPI Payment’ icon on the bottom of HDFC Bank Mobile Banking App
Enter the 6-digit App password
Click on 'Send Money'
You can select to pay via
UPI ID of beneficiary
Account no. & IFSC
Mobile No. & MMID
Enter the Amount and other details
Enter 4 digit UPI PIN and Pay
Request Money using BHIM UPI:
Login to the HDFC Bank Mobile Banking App
Click on Account > BHIM HDFC Bank > Request Money
Go to Collect Option
Enter the UPI ID of the payer
Enter the amount and description
Set the Expiry Duration and Initiate request

For Non HDFC Bank Customers

Create a BHIM / UPI ID:

Download the Mobile Banking App. (*For Android users only)
Click on the BHIM HDFC Bank icon on the bottom left of the screen
Create an UPI ID. e.g.(998765432@hdfcbank)
Choose a security question and set an answer
Choose Bank and bank account
Set 6-digit Application Password
Pay Money using BHIM / UPI

Click on 'BHIM HDFC Bank' icon on the bottom left of the Mobile Banking App screen
*For Android users only
Enter the 6-digit App password
Click on 'Pay'
You can select to pay via
UPI ID of beneficiary
Account no. & IFSC
Enter 4 digit UPI PIN and Pay
HDFC’s Unified Payments Interface (UPI) can be actively used by all customers to send
and receive money. The service is available on the HDFC mobile app and can also be
downloaded from Google Play store. Users can initiate fund transfers through the app using
a virtual address or a bank account number and IFSC code.

The UPI interface allows customers to go cashless and transact using a Smartphone using
only a Virtual Payment Address (VPA). VPA is a type of virtual identity that can be created
while registering for the HDFC UPI service and this virtual address enables users to send
and receive money without providing other bank details. Customers can, therefore, initiate
a transaction only using a VPA and there is no need to add a beneficiary like in other
methods of money transfer such as NEFT or IMPS, etc. Once a VPA is created, one has to
create an m-PIN and link all bank accounts through the app.
How to Register for HDFC UPI
Step 1: Download the HDFC UPI app on your Smartphone from Google store
Step 2: Launch the respective app on the mobile phone and proceed to click on the ‘UPI’
option
Step 3: Begin the registration process by choosing a VPA, name, answer the secret question,
and choose the bank name as HDFC. Once this is done click on ‘Next’
Step 4: Proceed to fill in bank account number and click ‘Register’
Step 5: A confirmation message for successful registration will be displayed on the screen.
Now proceed to set up a UPI m-PIN
Step 6: To set up m-PIN, Enter the name, VPA, select account, fill in the last 6 digits of your
debit card and the expiry date of the card. Proceed to click ‘Submit’.
Step 7: A confirmation message will be displayed on the screen after successfully creating the
m-PIN
Please note that an m-PIN is a password that the user will have to provide each time he/she
logs into the app.

How to Transfer Money Using HDFC UPI App

Step 1: Go to the HDFC mobile banking app and login by providing the respective m-
PIN
Step 2: Click on ‘UPI’ and tap the ‘Pay’ option
Step 3: Choose the bank account from which the money has to be transferred
Step 4: Key in the VPA of the payee. Enter amount to be transferred and write remarks,
if any
Step 5: Confirm details and Click ‘Pay’
Step 6: The final step is to provide the m-PIN and click ‘Submit’
How to Collect/Receive Money Using HDFC UPI App
Step 1: Go to the HDFC mobile banking app and login by providing the respective m-
PIN
Step 2: Go to the ‘UPI’ section and click on ‘Collect’
Step 3: Enter the VPA of the payer
Step 4: Enter the transaction amount and click ‘Confirm’
Step 5: Set an expiry date or deadline within which money has to be sent
Step 6: Initiate the request. The money will be credited once the payer
accepts/approves the request

Benefits of HDFC UPI

Secure and safe: One cannot carry out transactions through this app without providing
the m-PIN. This pin has to be keyed in for all transactions via the app, giving this type
of payment mechanism an added level of security.
Easy transfer without bank account details: One does not need to add a beneficiary
or provide bank account details for initiating a fund transfer via this method of
payment. One can easily carry out a transaction using the VPA at a much faster rate
without any hassle.
Virtual address: A VPA is given to each individual who registers for the app. Using
this, one can easily send and collect money. There is also a provision to create multiple
VPAs, making the account safe and secure.
Instant transfer: This payment platform enables users to make seamless money
transfers and also make collect requests on a 24 /7 basis. Transactions can be made at
any time and there are no restrictions when it comes to bank holidays, etc.

Limitations of HDFC UPI

Only for Android phones: At present, this service is only available for those using
Android phones. The payment interface app is currently not for IoS users. However, the
service is likely to be launched on the IoS platform soon.
Timings of HDFC UPI
All HDFC UPI transactions can be made at any time and there are no specific timings
for this service.
Charges for of HDFC UPI
HDFC charges a processing fee for all transactions carried out through the app.
Transaction amount Fee (in Rs)Rs.1 to Rs.25,0003Rs.25,000 to Rs.1 lakh5
 HDFC Bank SWOT Analysis 2020

Strength:-
•Rising Net Cash Flow and Cash from Operating activity
•Increasing Revenue every quarter for the past 2 quarters
•Company with Zero Promoter Pledge
•Recent Results : Growth in Operating Profit with increase in operating margins (YoY)
•Growth in Quarterly Net Profit with increasing Profit Margin (YoY)
•Annual Net Profits improving for last 2 years
•FII / FPI or Institutions increasing their shareholding

Weaknesses:-
•MFs decreased their shareholding last quarter
•Decline in Net Profit with falling Profit Margin (QoQ)
•Low Piotroski Score : Companies with weak financials
•Promoter decreasing their shareholding

Opportunities:-
•Brokers upgraded recommendation or target price in the past
three months
•Insiders bought stocks

Threats:-
•Increase in NPA in Recent Results
•Increase in Provisions in Recent Results
 Report Frauds

Report Unauthorized UPI Transactions Via Phone Banking

Here’s how you report not done by you through Phone Banking
To report credit card/ debit card/ Net Banking/ UPI transactions not done by you, call Phone
Banking (click here for the number in your state if are a Resident Customer; click here if you a
Non Resident Customer)
To report Prepaid Card transactions not done by you, call Phone Banking (click here)
For PayZapp Call on 1800 102 9426 or email at cybercell@payzapp.in
To report credit card/ debit card/ Net Banking/ UPI transactions not done by you, Call on
18002586161Please keep the following handy before calling Phone Banking
To report unauthorized UPI transactions:
Mobile number
Customer ID
Account number
Date of transaction and time
Transaction amount

Customer Care Number for Partner Apps

Partner Customer Care Contact

Google Pay1-800-419-0157
WhatsApp1-800-212-8552
Real me1-800-102-2777
Mobikwik011-61266390J
ust dial888-888-8888
 Software And Technology

In terms of core banking software, the Corporate Banking business is supported by Flex
cube, while the Retail Banking business by Fin ware, both from i-flex Solutions Ltd. The
systems are open, scalable and web-enabled.

HDFC Bank operates in a highly automated environment in terms of information technology

and communication systems. All the bank’s branches have online connectivity, which
enables the bank to offer speedy funds transfer facilities to its customers. Multi-branch
access is also provided to retail customers through the branch network and Automated
Teller Machines (ATMs).

The Bank has made substantial efforts and investments in acquiring the best technology
available internationally, to build the infrastructure for a world class bank. In terms of core
banking software, the Corporate Banking business is supported by Flex cube, while the
Retail Banking business by Fin ware, both from i-flex Solutions Ltd. The systems are open,
scalable and web-enabled.

The Bank has prioritized its engagement in technology and the internet as one of its key
goals and has already made significant progress in web-enabling its core businesses. In each
of its businesses, the Bank has succeeded in leveraging its market position, expertise and
technology to create a competitive advantage and build market share.

HDFC Bank operates in a highly automated environment in terms of information

technology and communication systems. All the bank's branches have online connectivity,
which enables the bank to offer speedy funds transfer facilities to its customers.
Oracle FLEXCUBE Universal Banking

Oracle FLEXCUBE Universal Banking is designed to modernize a bank’s core systems

efficiently and transform the bank to a digital, agile, connected and efficient bank of
tomorrow.
•Drives enhanced customer engagement and value with next-generation digital
capabilities and user experiences
•Improves insight generation and enhances straight-through processing with intelligent
decision-making and automation using technologies like machine learning and natural
language processing
•Enables rapid and secure integration and collaboration with third-party firms and
ecosystems through externalized business services and an open architecture
•Offers multiple transformation paths with best-in-class, off-the-shelf capabilities and
reintegrated components for progressive transformation
•Supports multiple deployment options across on premises and cloud and multiple
deployment models
•The financial services industry continues to evolve amidst disruption caused by an
unprecedented proliferation of digital technologies and connectivity. This disruption
coupled with several regulatory directives is also driving the emergence of connected
ecosystems. To successfully address disruption, protect customer relationships and
business, effectively comply with regulations, stay competitive and leverage the ecosystem
opportunity, banks must double down on transforming their core systems so that they can
leverage evolving technologies and connectivity to deliver better services, experiences and
value for their customers.

•With technology at the core of banking, modernization of core systems is the cornerstone
of digital transformation in a bank. Oracle FLEXCUBE Universal Banking can help banks
jumpstart digital transformation and leapfrog their capabilities to stay relevant,
competitive and compliant in a fast evolving industry. With its modern, digital, shrink-
wrapped, preconfigured, interoperable, scalable and connected capabilities, the Oracle
FLEXCUBE Universal Banking system can help catapult banks to the fore front of innovation
and leadership.
Block Chain Technology

The system is embedded with a patented block chain adapter that enables Oracle
FLEXCUBE to interface with any block chain system. The adapter enables a seamless
interchange of information between Oracle FLEXCUBE and external block chain data sets
can work with any version of Oracle FLEXCUBE with minimal changes. The easy
configurability of the adapter enables banks to leverage block chain technologies to solve
business problems, improve process efficiency, reduce risk and enhance straight through
processing.

A blockchain is essentially a distributed database of records or public ledger of all

transactions or digital events that have been executed and shared among participating
parties. Each transaction in the public ledger is verified by consensus of a majority of the
participants in the system. And, once entered, information can never be erased. The
blockchain contains a certain and verifiable record of every single transaction ever made.
Bit coin, the decentralized peertopeer digital currency, is the most popular example that
uses blockchain technology. The digital currency bit coin itself is highly controversial but the
underlying blockchain technology has worked flawlessly and found wide range of
applications in both financial and nonfinancial world.

The main hypothesis is that the blockchain establishes a system of creating a distributed
consensus ​in the digital online world. This allows participating entities to know for certain
that a digital event happened by creating an irrefutable record in a public ledger. ​It opens
the door for developing a democratic open and scalable digital economy from a centralized
one. There are tremendous opportunities in this disruptive technology and revolution in
this space has just begun.

This white paper describes blockchain technology and some compelling specific
applications in both financial and nonfinancial sector. We then look at the challenges ahead
and business opportunities in this fundamental technology that is all set to revolutionize
our digital world.
 CONCLUION
Internet banking is changing the banking industry and is having the major
effects on banking relationships. The net banking, thus, "now is more of a
norm rather than an exception in many developed countries" due to the fact
that it is the economical way of providing banking services. Banking is now
no longer confined to the traditional brick and mortar branches, where one has
to be at the branch in person, to withdraw cash or deposit a cheque or request
a statement of accounts. Providing internet banking is increasingly becoming a
need to have than a nice to have services.

Here, we summarize them and triy to make suggestions to banks for survival.
Transactions between the individuals would be made more convenient by the
emergence of Mondex-type smart cards. On the other hand, banks will lose
fees for person-to person money transfer and fees for ATM transactions.
Though adoption rate of the smart cards can not be pre dicted, banks have to
look at other business functions by aggressively join smart cards projects.

Concept of E-Banking has got consideration in Indian context. E-Banking

services have been effectively implemented by many public and private sector
banks as it is profitable for Consumers as well as banks. The Role of
information and technologies has been exceptional in endorsement of e-
banking. Many financial innovations like ATMs, credit cards, RTGS, debit
cards, mobile banking etc. have completely changed the face of Indian
banking. But still there is a need to have more innovative solutions as even
now also e-banking is faces many challenges like , i.e., Risks regarding
security, privacy, trust factor, lack of knowledge among consumers in relation
to e-banking, unsupportive infrastructure, Low level of computer literacy
among existing staff, etc are acting as obstruction in the implementation of e-
banking acilities.

Government of India in synchronization with many public banks & financial

Institutions are making an attempt to create an E-banking which is more safe,
reliable and protected. This paper also highlights the opportunities that are
available in India for the development of e- banking. Key opportunities can
stated in terms of untapped rural markets, competitive advantage held to
Banks, increasing internet users, efforts initiated by government of India, etc.
In contrast to overseas banks, online services presented by domestic banks
still have an extended way to move. One fact to be admitted is that supportive
and efficient infrastructure can make Indian Banks reach masses. This paper
fundamentally analyses and presents the sketch of E-Banking in India.
Studies in the past have discovered that Internet Banking is accepted by Indian
consumers but the growth would certainly take time. In this context, advance
studies may be conducted to examine the various forces which direct the
consumer intend to take up internet banking services.
 SUGGESTION

• Before introducing a new feature to your customers or members, create

awareness and build advocacy among your frontline staff. Engage
them, train them and consider letting them participate firsthand
through pilot programs. Make sure they’re aware of the benefits so
they can confidently speak to and promote them. Along the way,
gather feedback from your staff and document questions to help you
develop in-product FAQs for your users. Assign internal “product
champions” who know the product well and can serve as a go-to for
other staff who may have questions.

• Track your data. Every financial institution’s customer base is

different, and some tactics work better than others. Make sure to
regularly assess the performance of your ads, emails, and visits to your
dedicated webpage. Stay flexible and modify where needed.
Remember, there’s a lot of noise out there in the market, and a lot of
competition (not to mention shrinking attention spans). So, try using
tips like these to generate and keep the attention on your digital
banking capabilities to drive adoption and engagement—and help you
meet your goals.
 BIBLIOGRAPHY

• en.wikipedia.org
• www.google.com
• www.hdfcbank.com
• www.ijert.org
• www.coursehero.com
• web.mit.edu
• www.ukessays.com
• netbanking.hdfcbank.c
om
• finpedia.co
• www.researchgate.net