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Mobile Banking
A STUDY ONSEVICES OFFERED BY HDFC MOBILE BANKING
A PROJECT REPORT
SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR
THE AWARD OF THE DEGREE OF
BACHELOR OF MANAGEMENT STUDIES
SUBMITTED TO
DON BOSCO COLLEGE, KURLA
SUBMITTED BY
RANSON DANTIS
[Universi! R"## N"$ %
PROJECT GUIDE
PROF$ PRASAD PHADKE
SUBMITTED TO
UNIVERSITY OF MUMBAI
ACADEMIC YEAR &'()*(+
A STUDY ON
SERVICES OFFERED BY HDFC MOBILE BANKING
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Mobile Banking
A PROJECT REPORT
SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR
THE AWARD OF THE DEGREE OF
BACHELOR OF MANAGEMENT STUDIES
SUBMITTED TO
DON BOSCO COLLEGE, KURLA
SUBMITTED BY
RANSON DANTIS
[Universi! R"## N"$ %
PROJECT GUIDE
PROF$ PRASAD PHADKE
SUBMITTED TO
UNIVERSITY OF MUMBAI
ACADEMIC YEAR &'()*(+
CERTIFICATE
I hereby certify that the !r" hich i# bei$% &re#e$te' i$ the BMS Pr!(ect Re&!rt
e$tit)e' *Servies O--ere. B! HDFC M"/i#e B0n1in2+, i$ &artia) f-)fi)).e$t !f
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the re0-ire.e$t# f!r the aar' !f the Bache)!r !f Ma$a%e.e$t St-'ie# a$'
#-b.itte' t! U$ier#ity !f M-.bai i# a$ a-the$tic rec!r' !f .y !$ !r" carrie'
!-t i$ the aca'e.ic year /213415 -$'er the #-&eri#i!$ !f Pr"-$ Pr0s0. P30.1e,
De40r5en "- M0n02e5en S6.ies6
The .atter &re#e$te' i$ thi# Pr!(ect Re&!rt ha# $!t bee$ #-b.itte' by .e f!r the
aar' !f a$y !ther 'e%ree e)#ehere6
Si2n06re "- S6.en
R0ns"n D0nis 7 8
Thi# i# t! certify that the ab!e #tate.e$t .a'e by the #t-'e$t i# c!rrect t! the
be#t !f .y "$!)e'%e6
Si2n06re "- G6i.e Si2n06re "-
E9ern0# G6i.e
Na.e Na.e
Date Date
Si2n06re "- HOD Si2n06re "-
Prini40#
Na.e Na.e
Date Date
SEAL OF COLLEGE
ACKNO:LEDGEMENT
7
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I !-)' )i"e t! &)ace !$ rec!r' .y 'ee& #e$#e !f %ratit-'e t! Pr!f6 Ma.atha
D8S!-9a, HOD4De&t6 !f Ma$a%e.e$t St-'ie#, D!$ B!#c! :!))e%e, ;-r)a, I$'ia,
f!r her %e$er!-# %-i'a$ce, he)& a$' -#ef-) #-%%e#ti!$#6
I e
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a$' i.&r!e' tech$i0-e# a$' .eth!'# t! .eet the c-#t!.er# ba$"i$% $ee'#
hich %ie the. a$ e'%e !er their c!.&etit!r#6 M!re bra$che# #&rea' acr!## the
face !f the c!-$try, $-.er!-# ATM ce$ter#> better cre'it faci)itie# are !$)y #!.e
!f the tech$i0-e# -#e' by ba$"# f!r %ai$i$% c-#t!.er#6 I$ter$et ba$"i$% a$' the
.!#t c!..!$ .!bi)e ba$"i$% i# a fe $e i$$!ati!$# i$ the ba$"i$% #ect!r
a'!&te' by .a$y ba$"# i$ !r'er t! c!$ti$-e i$ the rat race !f the ba$"i$% #ect!r
M!bi)e ba$"i$% &r!i'e' by ba$"# $!t !$)y .a"e# the ba$" .!re
&referre' a.!$% c-#t!.er# b-t a)#! ref)ect# the )ee) !f tech$!)!%ica) "$!4h!
a$' #tat-# achiee' by the ba$"6 S-ch #erice# &r!i'e' by ba$"# #h!# the'e'icati!$ !f the ba$" i$ c!$'-cti$% it# actiitie# a$' the 'e'icati!$ t! .eet their
c-#t!.er# ba$"i$% $ee'#6
I$ I$'ia, t! !-t !f three i$'ii'-a)# hae a .!bi)e &h!$e i$ their
&!##e##i!$ a$' the $-.ber i# i$crea#i$% at a ra&i' rate '-e t! 'ee)!&.e$t i$
i$f!r.ati!$ tech$!)!%y a$' '-e t! c!.&etiti!$ a.!$% #erice &r!i'er#6 At thi#
rate !f 'ee)!&.e$t .!bi)e ba$"i$% i)) hae a i'er #c!&e f!r #-cce## a$'
'ee)!&.e$t a.!$% the I$'ia$#, be the. b-#i$e##.e$, &r!fe##i!$a)#, #t-'e$t#,
)ab!rer8#, !r"er# !r ee$ far.er#6
6 A)#! ith .!bi)e ba$"i$%, it e)i.i$ate# the $ee' f!r the c-#t!.er t! be
&hy#ica))y &re#e$t at the ba$" t! carry !-t the ba$"i$% tra$#acti!$#6
Thi# &r!(ect ai.# t! hi%h)i%ht the a'a$ta%e# a$' t! bri$% f!rar' the faci)itie#
aai)ab)e t! the c-#t!.er ia .!bi)e ba$"i$%6
CHAPTERI;ATION
16 INTRODU:TION TO MOBILE BAN;ING
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1616 I$tr!'-cti!$
16/6 Mea$i$% !f .!bi)e ba$"i$%
1676 Ba$"# that &r!i'e the faci)ity !f .!bi)e i$ I$'ia6
/6 AD?ANTAGES AND DISAD?ANTAGES OF MOBILE
BAN;ING
/616 T! ba$"#
/6/6 T! #erice &r!i'er#
/676 T! fi$a$cia) i$#tit-ti!$#
/636 T! c-#t!.er#
76 ?ALUE OF MOBILE BAN;ING
7616 U#a%e !f .!bi)e &h!$e# !er P:=#
76/6 :!#t !f -#a%e
7676 :-#t!.er care #erice#
36 RBI GUIDELINES ON MOBILE BAN;ING
@
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3616The &r!)iferati!$ !f .!bi)e# &h!$e#
36/6 The .ai$ "ey &!i$t# i$ the %-i'e)i$e#
56 MOBILE BAN;ING IN INDIA
5616 O&erati!$# c!$'-cte' thr!-%h .!bi)e &h!$e#
56/6 I$'ia$# rece&tie t! .!bi)e ba$"i$%
5676 Ba$"i$% !$ tech$!)!%y
@6 INTRODU:TION TO HDF:
@616 I$tr!'-cti!$ !f .4&ai#a
@6/6 E
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6 SER?I:ES OF MOBILE BAN;ING WITH HDF:
616 Serice# !ffere' by HDF:
6/6 Ta
6 TE:HNOLOGIES ENABLING MOBILE BAN;ING WITH
HDF: BAN;
616 I?R CI$teractie ?!ice Re#&!$#e
6/6 SMS CSh!rt Me##a%i$% Serice
676 WAP CWire)e## Acce## Pr!t!c!)
636 Sta$'a)!$e M!bi)e A&&)icati!$ c)ie$t#
656 U$#tr-ct-re' S-&&)e.e$tary Serice Data
6@6 NGPA
126POSSIBLE FUTURE OF MOBILE BAN;ING WITH HDF:
BAN;
12616 Pay.e$t !$ a&&r!a) by SMS
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126/6 T! #ta%e c!$fir.e' &ay.e$t
12676 M!bi)e &ay.e$t i$ retai) !-t)et#
116MAR;ETING FOR MOBILE BAN;ING
11616 Way# !f .ar"eti$% f!r .!bi)e ba$"i$%
116/6 Ty&ica) P-#h a$' P-)) #erice# !ffere' -$'er SMS ba$"i$%
11676 :!$cer$# a$' #"e&tici#. ab!-t SMS ba$"i$%
11636 :!$e$ie$ce fact!r
11656 :!.&e$#ati$% c!$tr!)# f!r )ac" !f e$cry&ti!$
116@6 Tech$!)!%ie# e.&)!ye' f!r SMS ba$"i$%
1/6:HALLENGES OF HDF: MOBILE BAN;ING SOLUTION
1/616 I$ter!&erabi)ity
1/6/6 Sec-rity
1/676 Re)iabi)ity
1/636 A&&)icati!$ 'i#trib-ti!$
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1/656 Per#!$a)i9ati!$
176SUR?E REPORTS
17616 Q-e#ti!$$aire
176/6 Fi$'i$%#
17676 Rec!..e$'ati!$
TABLE OF CONTENTS
C304er
N"$
Ti#e P02e
N"$
:ERTIFI:ATE i
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A:;NOWLEDGEMENT Ii
ABSTRA:T iii
($'
161
16/
167
163
165
INTRODUCTION
A'a$ta%e# !f .!bi)e ba$"i$%
Di#a'a$ta%e# !f .!bi)e ba$"i$%
?a)-e !f .!bi)e ba$"i$% i$ I$'ia
M!bi)e ba$"i$% i$ I$'ia
RBI %-i'e)i$e# !$ .!bi)e ba$"i$%
&$'
/61
/6/
/67
/63
/65
/6@
LITERATURE REVIE:
+I$tr!'-cti!$ t! HDF:
M!bi)e ba$"i$% HDF: b-#i$e## .!'e)
Feat-re# !f HDF: .!bi)e ba$"i$%
Tech$!)!%ie# e$ab)i$% .!bi)e ba$"i$% ith HDF:
P!##ib)e f-t-re ith HDF: .!bi)e ba$"i$%
:ha))e$%e# !f HDF: .!bi)e ba$"i$% #!)-ti!$#
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+$' DATA INTERPRETATION = ANALYSIS
>$' OBSERVATIONS = CONCLUSIONS
BIBLIOGRAPHY
C304er (
Inr".6i"n
The )a#t ti.e that tech$!)!%y ha' a .a(!r i.&act i$ he)&i$% ba$"# #erice
their c-#t!.er# a# ith the i$tr!'-cti!$ !f the I$ter$et ba$"i$%6 I$ter$et
Ba$"i$% he)&e' %ie the c-#t!.er=# a$yti.e acce## t! their ba$"#6 :-#t!.er#
c!-)' chec" !-t their acc!-$t 'etai)#, %et their ba$" #tate.e$t#, &erf!r.
tra$#acti!$# )i"e tra$#ferri$% .!$ey t! !ther acc!-$t# a$' &ay their bi))# #itti$% i$
the c!.f!rt !f their h!.e# a$' !ffice#6
H!eer the /i22es #i5i0i"n !f I$ter$et ba$"i$% i# the re0-ire.e$t !f a
P: ith a$ I$ter$et c!$$ecti!$, $!t a bi% !b#tac)e if e )!!" at the US a$' the
1/
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E-r!&ea$ c!-$trie#, b-t 'efi$ite)y a bi% barrier if e c!$#i'er .!#t !f the
'ee)!&i$% c!-$trie# !f A#ia )i"e :hi$a a$' I$'ia6 M!bi)e ba$"i$% a''re##e# thi#
f-$'a.e$ta) )i.itati!$ !f I$ter$et Ba$"i$%, a# it re'-ce# the c-#t!.er
re0-ire.e$t t! (-#t a .!bi)e &h!$e6
M!bi)e -#a%e ha# #ee$ a$ e
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The bi%%e#t a'a$ta%e that .!bi)e ba$"i$% !ffer# t! ba$"# i# that it 'ra#tica))y
c-t# '!$ the c!#t# !f &r!i'i$% #erice t! the c-#t!.er#6 F!r e
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#tatic #-b#criber ba#e6 A)#! #erice &r!i'er# are i$crea#i$%)y -#i$% the c!.&)e
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($& Dis0.v0n02es "- 5"/i#e /0n1in2
1@
Se6ri!
Un0v0i#0/#e
"n .65/
43"nes
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The be$efit# !f thi# c!$e$ie$ce are -$'e$iab)e, b-t there are a $-.ber !f
'i#a'a$ta%e# that .!bi)e ba$"i$% -#er# #h!-)' be aare !f6 The tech$!)!%y=#
c!#t, c!.&atibi)ity i##-e# a$' #ec-rity &r!b)e.# .ay ca-#e y!- t! thi$" tice
ab!-t -#i$% it6
Sec-rity e
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e#&ecia))y #-#ce&tib)e t! a &hi#hi$%4)i"e #ca. ca))e' #.i#hi$%6 It ha&&e$# he$
a .!bi)e ba$"i$% -#er receie# a fa"e te
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($< THE VALUE OF MOBILE BANKING
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De#&ite .!bi)e &h!$e# bei$% .-ch .!re &rea)e$t tha$ P:#, there are .!re
#erice# aai)ab)e i$ the .ar"et&)ace f!r I$ter$et c!..erce rather tha$ .!bi)e
c!..erce !r M4c!..erce6
It i# i$tere#ti$% t! $!te thi# &he$!.e$!$, a# !$e !-)' a##-.e a .ar"eter=#
i$tere#t i$ ta&&i$% a 'eice that i# a)ay# ith the c-#t!.er6 Whi)e !$e a).!#t
a)ay# carrie# a .!bi)e &h!$e, !$e '!e# $!t carry !$e=# P: !r )a&t!&6
The a'!&ti!$ !f .!bi)e tech$!)!%y i# #ti)) #)! hi)e eb tech$!)!%y i# bei$%
-#e' by &e!&)e t! !ffer .!re c!$e$ie$t c-#t!.er #erice#6
The #a.e i# tr-e f!r ba$"i$% #erice#6
Ba$"# $ee' t! )!!" f!r .-)ti&)e a$' a)ter$ate cha$$e)# t! e$%a%e the c-#t!.er by
&r!i'i$% hi.Jher ith a)-e a''e' #erice#6
/2
http://static.howstuffworks.com/gif/mobile-banking-5.jpg
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Ba$"# a)#! $ee' t! )!!" f!r i$$!atie .ea$# !f re'-ci$% tra$#acti!$ c!#t# a# &er
the 4 c-#t!.er tra$#acti!$# hae i$crea#e', a# ba$"# are &r!i'i$% .-)ti&)e
#erice# -$'er !$e r!!f6 M!bi)e tech$!)!%ie# c!-)' c!.e t! the re#c-e !f
fi$a$cia) #erice# i$ #-ch a #ce$ari!6
SMS# ba#e' thr!-%h a eb i$terface c!-)' be !$e #-ch #erice6 A eb i$terface
a))!# y!- t! c!..-$icate i$#ta$t)y ith i$'ii'-a)# !r %r!- ia b-)" te
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the ba$" it#e)f6 Thr!-%h .!bi)e .e##a%i$% a$' !ther #-ch i$terface#, ba$"#
&r!i'e a)-e a''e' #erice# t! the c-#t!.er at .ar%i$a) c!#t#6
S-ch .e##a%e# a)#! bear the irt-e !f bei$% tar%ete' a$' &er#!$a) .a"i$% the
#erice# !ffere' .!re effectie6 They i)) a)#! carry better re#-)t# !$ acc!-$t !f
better c-#t!.er &r!fi)i$%6
et a$!ther be$efit i# the a$yhereJa$yti.e characteri#tic# !f .!bi)e #erice#6 A
.!bi)e i# a).!#t a)ay# ith the c-#t!.er6 A# #-ch it ca$ be -#e' !er a a#t
%e!%ra&hica) area6 The c-#t!.er '!e# $!t hae t! i#it the ba$" ATM !r a bra$cht! aai) !f the ba$"=# #erice#6 Re#earch i$'icate# that the $-.ber !f f!!tfa))# at a
ba$"=# bra$ch ha# fa))e$ '!$ 'ra#tica))y after the i$#ta))ati!$ !f ATM#6 A# #-ch
ith .!bi)e #erice#, a ba$" i)) $ee' t! hire ee$ feer e.&)!yee#, a# &e!&)e
i)) $! )!$%er $ee' t! i#it ba$" bra$che# a&art fr!. certai$ !cca#i!$#6
With I$'ia$ te)ec!. !&erat!r# !r"i$% !$ !fferi$% #erice# )i"e .!$ey
tra$#acti!$ !er a .!bi)e, it .ay #!!$ be &!##ib)e f!r a ba$" t! !ffer &h!$e ba#e'
cre'it #y#te.#6 Thi# i)) .a"e cre'it car'# re'-$'a$t a$' a)#! ai' i$ chec"i$%
cre'it car' fra-' a&art fr!. !fferi$% e$ha$ce' c-#t!.er c!$e$ie$ce6 The -#e !f
.!bi)e tech$!)!%ie# i# th-# a i$4i$ &r!&!#iti!$ f!r b!th the ba$"# a$' the
ba$"=# c-#t!.er#6 S-ch #erice# are hi%h)y &er#!$a) i$ $at-re a$' are effectie
beca-#e !f the #a.e6
The ba$"# a'' t! thi# &er#!$a)i9e' c!..-$icati!$ thr!-%h the &r!ce## !f
a-t!.ati!$6 F!r i$#ta$ce, if the c-#t!.er a#"# f!r hi# acc!-$t !r car' ba)a$ce
after c!$'-cti$% a tra$#acti!$, the i$#ta))e' #!ftare ca$ #e$' hi. a$ a-t!.ate'
re&)y i$f!r.i$% !f the #a.e6 The#e a-t!.ate' re&)ie# th-# #ae the ba$" the $ee'
t! hire a''iti!$a) e.&)!yee# f!r #erici$% c-#t!.er $ee'#6
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($) M"/i#e B0n1in2 in
/7
INDIA
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The acc!-$t that trae)# ith y!-6 Thi# i# $ee'e' i$ t!'ay=# fa#t b-#i$e##
e$ir!$.e$t ith -$e$'i$% 'ea')i$e# f!r f-)fi)).e$t a$' )!a'# !f a&&!i$t.e$t# t!
.eet a$' .eeti$%# t! atte$'6 With .!bi)e ba$"i$% faci)itie#, !$e ca$ ba$" fr!.
a$yhere, at a$yti.e a$' i$ a$y c!$'iti!$ !r a$yh!6 The #y#te. i# either
thr!-%h SMS !r thr!-%h WAP6 C:hec" !-t f!r SMS Ba$"i$% -$'er 'iffere$t hea'
M!bi)e Ba$"i$% i# the h!tte#t area !f 'ee)!&.e$t i$ the ba$"i$% #ect!r a$' i#
e
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In.i0ns ree4ive " 5"/i#e /0n1in2
1)Billpayments.
2)Fundtransfer.
3)Check balances& many more
aailable in !M!banking.
AD
VANTAGES
/5
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O$e !f eery three I$'ia$# ith a ba$" acc!-$t i# rea'y t! #itch t! a$!ther ba$"
!$ bei$% !ffere' free .!bi)e ba$"i$%, #tate# a$ A#ia Pacific #-rey !$ .!bi)e
ba$"i$% !&&!rt-$itie#6
The #-rey f!-$' I$'ia$ -#er# t! be .!re aare !f .!bi)e ba$"i$% tha$ th!#e i$
!ther c!-$trie#6 The re&!rt tit)e', =M!bi)e O&&!rt-$itie# f!r the Fi$a$cia) Sect!r=
a# c!$'-cte' i$ fie c!-$trie#6
It a# c!..i##i!$e' by Syba#e 7@5, a #-b#i'iary !f Syba#e, a)!$% ith BDM
I$te))i%e$ce4a c-#t!. .ar"et re#earch fir. i$ A#ia6 It #-reye' 1,1 .!bi)e
-#er#6
The #-rey #tate# that 1 &er ce$t !f I$'ia$ re#&!$'e$t# are aare they ca$ chec"
ba$" ba)a$ce !$ a .!bi)e &h!$e, hi)e 3 &er ce$t hae -#e' the#e #erice# i$ the
)a#t three .!$th#4the hi%he#t a.!$%#t the fie c!-$trie# #-reye' i$ the re%i!$6
The #-rey f!-$' !-t that c!$#-.er# i$ I$'ia C1 &er ce$t are .!re aare he$
c!.&are' t! their c!-$ter &art# i$ the !ther re%i!$# !$ the !fferi$%# their ba$"
&r!i'e# !$ .!bi)e &h!$e#6 A).!#t a ha)f !f the I$'ia$ re#&!$'e$t# chec"e' their
ba$" ba)a$ce !$ their .!bi)e &h!$e a$' 53 &er ce$t ia the I$ter$et6
The bi%%e#t c!$cer$ a.!$% the I$'ia$ -#er hi)e acce##i$% 'etai)# thr!-%h
.!bi)e &h!$e# i# #ec-rity6 I$ )i$e ith thi#, they acc!-$te' f!r the )ar%e#t
&erce$ta%e !f #-rey re#&!$'e$t# e
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&er ce$t f!r b!th6 I$'ia$ re#&!$'e$t# ere a)#! the .!#t i))i$% t! &ay f!r the#e
#erice#6
;a-#t- Gh!#h, c!-$try .a$a%er Syba#e 7@5 I$'ia #ai', I$'ia$ ba$"# $ee'e' a
c!.&rehe$#ie ie !f .!bi)e #erice 'e&)!y.e$t a$' it# be$efit t! c-#t!.er a$'
!&erati!$a) e
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($+ RBI G6i.e#ines "n M"/i#e B0n1in2
I$ the be%i$$i$%, ith the &r!)iferati!$ !f .!bi)e &h!$e# i$ ari!-# #tate#, #!.e
ba$"# #tarte' !fferi$% i$f!r.ati!$ ba#e' #erice# )i"e ba)a$ce e$0-iry, #t!&
&ay.e$t i$#tr-cti!$ !f che0-e#, tra$#acti!$# e$0-iry, a$' )!cati!$ !f the $eare#t
ATMJbra$ch etc6 Acce&ta$ce !f tra$#fer !f f-$'# i$#tr-cti!$ f!r cre'it t!
be$eficiarie# !f #a.eJ!r a$!ther ba$" i$ fa!r !f &re4re%i#tere' be$eficiarie# ha'
a)#! c!..e$ce' i$ a fe ba$"#6 Later Re#ere Ba$" !f I$'iaCRBI ha' #et -& the
KM!bi)e Pay.e$t# F!r-. Of I$'ia= CMPFI, a KW!r"i$% Gr!-& !$ M!bi)e
Ba$"i$%= t! e
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1 O$)y )ice$#e# I$'ia$ ba$"# hai$% c!re ba$"i$% faci)ity ere
&er.itte' t! !ffer M!bi)e ba$"i$% #erice#, ithi$ the c!-$try,
i$ I$'ia$ R-&ee# !$)y6
/ The M!bi)e ba$"i$% ha# bee$ re#tricte' !$)y t! c-#t!.er# !f
ba$"# a$'J!r h!)'er# !f 'ebitJcre'it car'#6 The c-#t!.er ha# t!
&hy#ica))y &re#e$t i$ the ba$" a$' re%i#tere' hi.#e)f f!r M!bi)e
ba$"i$%6
7 Fr!. the #ec-rity tra$#acti!$ &!i$t !f ie it i# .a$'at!ry f!r
the ba$"# t! f!))! the %-i'e)i$e# i##-e' by Re#ere Ba$" !$
;$! !-r :-#t!.er C;:, A$ti M!$ey La-$'eri$%
CAML a$' :!.bati$% the Fi$a$ci$% !f Terr!ri#. C:FT6
Ba$"# hae a)#! bee$ .a$'ate' t! hae #ec-re' M!bi)e ba$"i$% tra$#acti!$# a$' they hae t! e$#-re c!$fi'e$tia)ity,
i$te%rity, a-the$ticity a$' $!$ re&-tabi)ity !f the tra$#acti!$6
3 T! e$#-re i$ter4!&erabi)ity betee$ ba$"#, a$' betee$ their
.!bi)e ba$"i$% #erice &r!i'er#, ba$"# hae bee$ a#"e' t!
a'!&t the .e##a%e f!r.at# )i"e ISO 57, ith #-itab)e
.!'ificati!$ t! a''re## #&ecific $ee'#6
/
M0in P"ins In T3e G6i.e#ines 0re
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5 Fr!. #ec-rity &!i$t !f ie, ba$"# are re0-ire' t! e$#-re
&r!&er )ee) !f e$cry&ti!$ a$' #ec-rity at a)) #ta%e# !f the
tra$#acti!$ &r!ce##i$% a$' t! e$#-re e$'4t!4e$' e$cry&ti!$ !f
the .!bi)e ba$"i$% tra$#acti!$6 ?a)i'ati!$ !f tra$#acti!$ #h!-)'
be thr!-%h a t! fact!r a-the$ticati!$ ith &r!i#i!$ that the
K.PIN= CM Per#!$a) I'e$tificati!$ N-.ber #ha)) be #t!re'
i$ a #ec-re e$ir!$.e$t
@ T! %-ar' a%ai$#t the -#e !f .!bi)e ba$"i$% i$ .!$ey
)a-$'eri$%, fra-'# etc6 The %-i'e)i$e# ith re#&ect t! $et!r"
a$' #y#te. #ec-rity hae a)#! bee$ i##-e' f!r the ba$"#6
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CHAPTER &
REVIE: OF LITERATURE
&$(Inr".6i"n " HDFC 5"/i#e /0n1in2
Lea'i$% te)ec!. #erice &r!i'er ?!'af!$e I$'ia a$' &riate )e$'er
HDF: Ba$" Sat-r'ay )a-$che' .4&ai#a, a .!bi)e ba$"i$% #erice i$ Ra(a#tha$
t! e$ab)e .i))i!$# !f -$ba$"e' I$'ia$# &erf!r. ba#ic ba$"i$% tra$#acti!$# !$
their .!bi)e &h!$e6
It i# a %reat !&&!rt-$ity f!r a c!-$try )i"e I$'ia t! i.&r!e fi$a$cia)
i$c)-#i!$ thr!-%h .!bi)e ba$"i$%6 It i# a &i!$eeri$% i$itiatie .!'e)e' !$ the
)i$e# !f ?!'af!$e=# .4&ai#a &r!'-ct r-$$i$% i$ three 'iffere$t c!-$trie# !f Africa,
!fferi$% t! .!re tha$ 1 .i))i!$ &e!&)e ba#ic fi$a$cia) #erice# bey!$' the reach
!f tra'iti!$a) ba$"i$%, #ai' S-$i) S!!', 'irect!r, b-#i$e## !&erati!$#, ?!'af!$e
I$'ia6
With !-r reach a$' abi)ity t! c!$$ect c-#t!.er#, e e
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Thi# i$itiatie i)) a))! ?!'af!$e=# #e)ect retai)er# t! act a# HDF:=# #-b4
a%e$t# thr!-%h hich c-#t!.er# ca$ 'e&!#it a$' ith'ra ca#h thr!-%h their
.!bi)e &h!$e ith!-t hai$% t! %! t! ba$" bra$che#6
I$ Ra(a#tha$ here thi# $ati!$a) &art$er#hi& ha# bee$ i.&)e.e$te', !er
/,/22 retai)er# acr!## 7/2 i))a%e# a$' 53 t!$# are !&erati!$a) i$ !&e$i$% HDF:
Ba$" .!bi)e ba$" acc!-$t# ith ?!'af!$e .4&ai#a6
There are @,22,222 habitati!$# b-t !$)y ab!-t ,222 ba$" bra$che# i$
the c!-$try, .a"i$% acce## t! ba$"i$% #erice# 'iffic-)t i$ re.!te area#6 We fee)
that ?!'af!$e=# #i%$ifica$t 'i#trib-ti!$ reach i)) &r!i'e c-#t!.er# the #ec-rity
!f fi$a$cia) tra$#acti!$ !ffere' by ba$", #ai' Rah-) Bha%at, c!-$try hea', retai)
)iabi)itie#, .ar"eti$% a$' 'irect ba$"i$% cha$$e)#, HDF: Ba$"6
The c!.&a$ie# i)) e
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#-&eri#i$% HDF: Ba$" 666 e hae i##-e' .!bi)e ba$"i$% %-i'e)i$e#6 We a$t
t! e$#-re that efficie$t -#e !f .!bi)e tech$!)!%y ta"e# &)ace i$ fi$a$cia) i$c)-#i!$
T3e H"6sin2 Deve#"45en Fin0ne C"r4"r0i"n Li5ie. 7HDFC8 a#
a.!$%#t the fir#t t! receie a$ Ki$ &ri$ci&)e= a&&r!a) fr!. the Re#ere Ba$" !f
I$'ia CRBI t! #et -& a ba$" i$ the &riate #ect!r, a# &art !f the RBI=# )ibera)i9ati!$
!f the I$'ia$ Ba$"i$% I$'-#try i$ 136 The ba$" a# i$c!r&!rate' i$ A-%-#t
13 i$ the $a.e !f =HDF: Ba$" Li.ite'=, ith it# re%i#tere' !ffice i$ M-.bai,
I$'ia6 HDF: Ba$" c!..e$ce' !&erati!$# a# a Sche'-)e' :!..ercia) Ba$" i$
a$-ary 156 HDF: i# I$'ia=# &re.ier h!-#i$% fi$a$ce c!.&a$y a$' e$(!y# a$
i.&eccab)e trac" rec!r' i$ I$'ia a# e)) a# i$ i$ter$ati!$a) .ar"et#6 Si$ce it#
i$ce&ti!$ i$ 1, the :!r&!rati!$ ha# .ai$tai$e' a c!$#i#te$t a$' hea)thy %r!th
i$ it# !&erati!$# t! re.ai$ the .ar"et )ea'er i$ .!rt%a%e#6 It# !-t#ta$'i$% )!a$
&!rtf!)i! c!er# e)) !er a .i))i!$ 'e))i$% -$it#6 HDF: ha# 'ee)!&e'
#i%$ifica$t e
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Mobile Banking
!f 131/ bra$che# a$' 7/5a-t!.ate' te))er .achi$e# CATM# i$ 5/ citie# a$'
there i# ee$ a %!!' $e# that HDF: ba$" ha# a)#! i$tr!'-ce' 5"/i#e /0n1in2
a&&)icati!$ f!r their c-#t!.er ith the he)& !f thir' &arty NAGPAY a$' 5C3e1
e)) "$! .!bi)e a&&)icati!$ &r!i'er66
&$&M"/i#e /0n1in2 HDFC /6siness 5".e#s
A i'e #&ectr-. !f M!bi)eJbra$ch)e## ba$"i$% .!'e)# i# e!)i$%6 H!eer, $!
.atter hat b-#i$e## .!'e), if .!bi)e ba$"i$% i# bei$% -#e' t! attract )!4
i$c!.e &!&-)ati!$# i$ !fte$ r-ra) )!cati!$#, the b-#i$e## .!'e) i)) 'e&e$' !$
ba$"i$% a%e$t#, i6e6, retai) !r &!#ta) !-t)et# that &r!ce## fi$a$cia) tra$#acti!$# !$
beha)f Te)c!=# !r ba$"#6 The ba$"i$% a%e$t i# a$ i.&!rta$t &art !f the .!bi)e
ba$"i$% b-#i$e## .!'e) #i$ce c-#t!.er care, #erice 0-a)ity, a$' ca#h
.a$a%e.e$t i)) 'e&e$' !$ the.6 Ma$y Te)c!=# i)) !r" thr!-%h their )!ca)
airti.e re#e))er#
The#e .!'e)# 'iffer &ri.ari)y !$ the 0-e#ti!$ that h! i)) e#tab)i#h the
re)ati!$#hi& Cacc!-$t !&e$i$%, 'e&!#it ta"i$%, )e$'i$% etc6 t! the e$' c-#t!.er,
the Ba$" !r the N!$4Ba$"JTe)ec!..-$icati!$ :!.&a$y CTe)c!6 A$!ther
'iffere$ce )ie# i$ the $at-re !f a%e$cy a%ree.e$t betee$ ba$" a$' the N!$4
Ba$"6 M!'e)# !f bra$ch)e## ba$"i$% ca$ be c)a##ifie' i$t! three br!a' cate%!rie#
Ba$" F!c-#e', Ba$"4Le' a$' N!$ba$"4Le'6
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B0n1*-"6se. 5".e#
The ba$"4f!c-#e' .!'e) e.er%e# he$ a tra'iti!$a) ba$" -#e# $!$4tra'iti!$a)
)!4c!#t 'e)iery cha$$e)# t! &r!i'e ba$"i$% #erice# t! it# e
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tar%et .ar"et 'i#ti$ct fr!. tra'iti!$a) ba$"#, a$' .ay be #i%$ifica$t)y chea&er
tha$ the ba$"4ba#e' a)ter$atie#6 The ba$"4)e' .!'e) .ay be i.&)e.e$te' by
either -#i$% c!rre#&!$'e$t arra$%e.e$t# !r by creati$% a ? betee$ Ba$" a$'
Te)c!J$!$4ba$"6 I$ thi# .!'e) c-#t!.er acc!-$t re)ati!$#hi& re#t# ith the ba$"
N"n*/0n1*#e. 5".e#
The $!$4ba$"4)e' .!'e) i# here a ba$" ha# a )i.ite' r!)e i$ the 'ay4t!4'ay
acc!-$t .a$a%e.e$t6 Ty&ica))y it# r!)e i$ thi# .!'e) i# )i.ite' t! #afe4"ee&i$% !f
f-$'#6 Acc!-$t .a$a%e.e$t f-$cti!$# are c!$'-cte' by a $!$4ba$" Ce6%6 Te)c!
h! ha# 'irect c!$tact ith i$'ii'-a)
&$< Fe06res en0/#in2 5"/i#e /0n1in2 @i3 HDFC
Servies "- M"/i#e B0n1in2 @i3 HDFC
:-#t!.er# !f the ba$" ca$ $! &ay bi))#, t!& -& &re&ai' airti.e a$' b-y tic"et#
fr!. their .!bi)e &h!$e6
HDF: Ba$" #i%$e' a$ a%ree.e$t ith MO ?i'a, a .!bi)e &ay.e$t# (!i$t e$t-re
bac"e' by ?i#a a$' M!$iti#e, t! i$tr!'-ce a fir#t !f it# "i$' .!bi)e &ay.e$t
#erice i$ I$'ia6
The $e #erice a))!# HDF: Ba$" c-#t!.er# t! &ay bi))#, t!& -& &re&ai'
airti.e a$' b-y tic"et# fr!. their .!bi)e &h!$e a$' i# 'e#i%$e' t! !&erate acr!##
a)) .!bi)e $et!r"# -#i$% a$y ?i#a !r $!$4?i#a bra$'e' &ay.e$t acc!-$t6
7@
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Mobile Banking
It ca$ be -#e' by a$y .!bi)e #-b#criber, a$yhere a$' acce##e' by ee$ the .!#t
ba#ic .!bi)e &h!$e6
The &art$er#hi& ith MO ?i'a i# a cr-cia) #te& hereby e i)) e$ab)e !-r
c-#t!.er# t! carry !-t .-)ti&)e .!bi)e c!..erce tra$#acti!$# fr!. the .!#t
ba#ic ha$'#et#, #ai' Rah-) Bha%at, Hea'4Retai) Liabi)itie#, Mar"eti$% Direct
Ba$"i$% :ha$$e)#, HDF: Ba$"6
The $e #erice -#e# .e$-4ba#e' U$#tr-ct-re' S-&&)e.e$tary Serice DataCUSSD .!bi)e tech$!)!%y6 USSD i# a &r!t!c!) -#e' by GSM ce))-)ar te)e&h!$e#
t! c!..-$icate ith the #erice &r!i'er=# c!.&-ter#6
After )i$"i$% their HDF: Ba$" ?i#a !r $!$4?i#a &ay.e$t car' t! their .!bi)e
&h!$e $-.ber, car'h!)'er# ca$ acce## the #erice ia USSD !er M!i'a=# #ec-re
c!$$ecti!$6
Thi# i# a #erice 'e#i%$e' f!r I$'ia$#6 A# e r!))!-t the #erice t! !ther ba$"#
.!re &e!&)e i)) be ab)e t! be$efit fr!. .!bi)e &ay.e$t#6 Thi# #erice i# %!i$%
t! 'ra#tica))y re'-ce the ti.e a$' e$er%y I$'ia$# a#te eery 'ay aiti$% t! &ay
bi))#, #ai' Na-#ha' :!$tract!r, MO ?i'a=# Pre#i'e$t a$' hea' !f the M!$iti#e
a$' ?i#a (!i$t e$t-re i$ I$'ia6
The #y#te. e$c!.&a##e# ari!-# #ec-rity .ea#-re# t! .ai$tai$ acc!-$t i$te%rity,
i$c)-'i$% a -$i0-e PIN $-.ber #et -& !$ the &h!$e t! acce## the acc!-$t
i$f!r.ati!$6 O$)y the -#er=# ba$"4re%i#tere' &h!$e ca$ be c!$$ecte' t! the
#erice6
7
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Mobile Banking
Thi# tech$!)!%y i)) be a %a.e cha$%er the ay the iPh!$e a# f!r .!bi)e
&h!$e#, #ai' :!$tract!r
The #erice i# i$itia))y bei$% !ffere' t! a #e)ect $-.ber !f a)-e' c-#t!.er#
bef!re bei$% r!))e' !-t acr!## the c!-$try )ater i$ the year6
I$ N!e.ber )a#t year, HDF: &art$ere' ith te)ec!. #erice &r!i'er ?!'af!$e
I$'ia t! )a-$ch .4&ai#a, a .!bi)e ba$"i$% #erice i$ Ra(a#tha$ t! e$ab)e .i))i!$#
!f -$ba$"e' I$'ia$# )eera%e -#e !f .!bi)e &h!$e# f!r ba$"i$% tra$#acti!$#6
Aay fr!. h!.e, ba)a$ce e$0-irie# ca$ be .a'e a$'J!r .!$ey #e$t t! the )!e'
!$e# !r bi))# ca$ be &ai' a$yti.e /3
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76 :he0-e Stat-# I$0-iry6
36 :he0-e B!!" Re0-e#t#6
56 F-$' Tra$#fer betee$ Acc!-$t#6
@6 :re'itJDebit A)ert#6
6 Mi$i.-. Ba)a$ce A)ert#
66 Bi)) Pay.e$t A)ert#6
6 Bi)) Pay.e$t6
126 Rece$t Tra$#acti!$ Hi#t!ry Re0-e#t#6
116 I$f!r.ati!$ Re0-e#t# )i"e I$tere#t Rate#JE
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A"6n In-"r50i"n
16 Mi$i4#tate.e$t# a$' chec"i$% !f acc!-$t hi#t!ry
/6 A)ert# !$ acc!-$t actiity !r &a##i$% !f #et thre#h!)'#
76 M!$it!ri$% !f ter. 'e&!#it#
36 Acce## t! )!a$ #tate.e$t#
56 Acce## t! car' #tate.e$t#
@6 M-t-a) f-$'# J e0-ity #tate.e$t#
6 I$#-ra$ce &!)icy
6 Pe$#i!$ &)a$ .a$a%e.e$t
6 Stat-# !$ che0-e, #t!& &ay.e$t !$ che0-e
P0!5ens = Tr0ns-ers
16 D!.e#tic a$' i$ter$ati!$a) f-$' tra$#fer#
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/6 Micr!4&ay.e$t ha$')i$%
76 M!bi)e rechar%i$%
36 :!..ercia) &ay.e$t &r!ce##i$%
56 Bi)) &ay.e$t &r!ce##i$%
@6 Peer t! &eer &ay.e$t#
Inves5ens
16 P!rtf!)i! .a$a%e.e$t #erice#
/6 Rea)4ti.e #t!c" 0-!te#
76 Per#!$a)i9e' a)ert# a$' $!tificati!$# !$ #ec-rity &rice#
S644"r
16 Stat-# !f re0-e#t# f!r cre'it, i$c)-'i$% .!rt%a%e a&&r!a), a$' i$#-ra$ce
c!era%e
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/6 :hec" Cche0-e b!!" a$' car' re0-e#t#
76 E
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Mobile Banking
y!-r f-$'=# tra$#fer t! #!.e !ther acc!-$t i# a tra$#acti!$4ba#e' #erice6
Tra$#acti!$ ba#e' #erice# are a)#! 'iffere$tiate' fr!. i$0-iry ba#e' #erice# i$
the #e$#e that they re0-ire a''iti!$a) #ec-rity acr!## the cha$$e) fr!. the .!bi)e
&h!$e t! the ba$"# 'ata #erer#6
Ba#e' -&!$ the ab!e c)a##ificati!$#, e arrie at the f!))!i$% ta
!f the #erice# )i#te' bef!re6
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P6s3 B0se. P6## B0se.
Tr0ns0i"n
B0se.
• F-$' Tra$#fer
• Bi)) Pay.e$t
• Other fi$a$cia) #erice# )i"e
#hare tra'i$%6
In6ir!
B0se.
• :re'itJDebit
A)ert#6
• Mi$i.-.
Ba)a$ce
A)ert#
• Bi))
Pay.e$t
A)ert#
• Acc!-$t Ba)a$ce I$0-iry
• Acc!-$t State.e$t I$0-iry6
• :he0-e Stat-# I$0-iry6
• :he0-e B!!" Re0-e#t#6
• Rece$t Tra$#acti!$ Hi#t!ry6
&$)Te3n"#"2ies en0/#in2 5"/i#e /0n1in2 @i3 HDFC
Tech$ica))y #&ea"i$% .!#t !f the#e #erice# ca$ be 'e&)!ye' -#i$% .!re tha$ !$e
cha$$e)6 Pre#e$t)y, M!bi)e Ba$"i$% i# bei$% 'e&)!ye' -#i$% .!bi)e a&&)icati!$#
'ee)!&e' !$ !$e !f the f!))!i$% f!-r cha$$e)#6
($ IVR 7Iner0ive V"ie Res4"nse8
&$ SMS 7S3"r Mess02in2 Servie8
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$ NGPAY
(8IVR 7Iner0ive V"ie Res4"nse8
I?R #erice !&erate# thr!-%h &re4#&ecifie' $-.ber# that ba$"# a'erti#e t! their
c-#t!.er#6 :-#t!.er=# .a"e a ca)) at the I?R $-.ber a$' are -#-a))y %reete' by a
#t!re' e)ectr!$ic .e##a%e f!))!e' by a .e$- !f 'iffere$t !&ti!$#6 :-#t!.er# ca$
ch!!#e !&ti!$# by &re##i$% the c!rre#&!$'i$% $-.ber i$ their "ey&a'#, a$' are
the$ rea' !-t the c!rre#&!$'i$% i$f!r.ati!$, .!#t)y -#i$% a te
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ha# bee$ c!$#i'erab)e $!i#e !$ .-)ti&)e A#teri#" re)ate' f!r-.# !er the #tabi)ity
!f A#teri#" ba#e' #y#te.#6 :!.&a$ie# &)a$$i$% t! -#e A#teri#" f!r their I?R
#!)-ti!$# #h!-)' certai$)y '! a ri%!r!-# ea)-ati!$ !f it# ca&abi)itie# bef!re
c!..itti$% their )!$%4ter. f-t-re !$ it6
&8 SMS 7SHORT MESSAGE SERVICE8
SMS -#e# the &!&-)ar te
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Mobile Banking
The .ai$ a'a$ta%e !f 'e&)!yi$% .!bi)e a&&)icati!$# !er SMS i# that a).!#t a))
.!bi)e &h!$e#, i$c)-'i$% the )! e$', chea&er !$e#, hich are .!#t &!&-)ar i$
c!-$trie# )i"e I$'ia a$' :hi$a are SMS e$ab)e'6
A$ SMS ba#e' #erice i# h!#te' !$ a SMS %ateay that f-rther c!$$ect# t! the
M!bi)e #erice &r!i'er# SMS :e$ter6 There are a c!-&)e !f h!#te' IP ba#e' SMS
%ateay# aai)ab)e i$ the .ar"et a$' a)#! #!.e !&e$ #!-rce# !$e# )i"e ;a$$e) 6
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Mobile Banking
c!$fi%-rati!$ C&r!i'e' by the MNO, i$ !r'er t! #-&&!rt WAP Ba$"i$%6 MNO#
!fte$ #e%.e$t thi# f-$cti!$a)ity t! &!#t4&ai' c-#t!.er# !$)y6
)8 S0n.0#"ne M"/i#e A44#i0i"n C#iens
M!bi)e a&&)icati!$# are the !$e# that h!)' !-t the .!#t &r!.i#e a# they are .!#t
#-itab)e t! i.&)e.e$t c!.&)e< ba$"i$% tra$#acti!$# )i"e tra'i$% i$ #ec-ritie#6
They ca$ be ea#i)y c-#t!.i9e' acc!r'i$% t! the -#er i$terface c!.&)e
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Mobile Banking
O-t !f /ME a$' BREW, /ME #ee.# t! hae a$ e'%e ri%ht $! a# N!"ia ha#
.a'e the 'ee)!&.e$t t!!)# !&e$ t! 'ee)!&er# hich ha# f-rther f!#tere' a h-%e
!$)i$e c!..-$ity f!c-#e' i$ 'ee)!&i$% a&&)icati!$# ba#e' !$ /ME6 N!"ia ha#
%!$e a$ a''iti!$a) .i)e by &r!i'i$% a$ !&e$ !$)i$e .ar"et &)ace f!r 'ee)!&er#
here they ca$ #e)) their a&&)icati!$# t! .a(!r ce))-)ar !&erat!r# ar!-$' the
!r)'6 BREW !$ the !ther ha$' ha# #ee$ )i.ite' &!&-)arity a.!$% the 'ee)!&er
c!..-$ity, .!#t)y beca-#e !f the &r!&rietary $at-re !f it# b-#i$e## a$' beca-#e
!f the #tee& &rice# it char%e# f!r it# 'ee)!&.e$t t!!)#6
Q-ite a fe .!bi)e #!ftare &r!'-ct c!.&a$ie# hae r!))e' !-t #!)-ti!$#, hich
e$ab)e /ME .!bi)e a&&)icati!$# ba#e' ba$"i$%6 O$e #-ch &r!'-ct i# Wire)e## I4 ba$c!6 The .!bi)e -#er '!$)!a'# a$' i$#ta))# the ire)e## I4ba$c! a&&)icati!$ !$
their /ME &!$e6 The /ME c)ie$t c!$$ect# t! the ire)e## I4ba$c! #erer thr!-%h
the #erice &r!i'er# GSM $et!r" t! e$ab)e -#er# t! acce## i$f!r.ati!$ ab!-t
their acc!-$t# a$' &erf!r. tra$#acti!$#6 O$e !f the !ther bi% a'a$ta%e# !f -#i$%
a .!bi)e a&&)icati!$ c)ie$t i# that it ca$ i.&)e.e$t a ery #ec-re cha$$e) ith
e$'4t!4e$' e$cry&ti!$6
+8 Unsr66re. S644#e5en0r! Servie D00
I$ it# #i.&)e#t 'efi$iti!$, USSD i# a .e$- 'rie$ f!r. !f SMS here a c-#t!.er
!-)' receie a te
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Mobile Banking
a$ i$teractie 'ia)!% betee$ the -#er a$' a certai$ #et !f a&&)icati!$#6 I$ !ther
!r'#, b!th #i'e# !f the 'ia)!%-e ha&&e$ '-ri$% a #e##i!$ herea# a$ SMS ba#e'
i$teracti!$ i# br!"e$ i$t! each #e%.e$t !f c!..-$icati!$ betee$ the c)ie$t a$'
the #erice6 USSD1 !$)y a))!# !$e ay c!..-$icati!$ t! the $et!r", USSD/
a))!# t! ay c!..-$icati!$# betee$ the -#er a$' the $et!r"6 With USSD1,
the i$teracti!$ betee$ the -#er a$' the #erice !-)' be br!"e$ i$t! each
c!..-$icati!$ #e%.e$t, .-ch )i"e SMS6 With USSD/ it !-)' be he)' i$ the
#a.e #e##i!$ a$' a))! f!r a f)!i$% c!$er#ati!$ betee$ the -#er a$' the
#erice6 Thi# i# #i.i)ar t! e4.ai) a$' i$#ta$t .e##a%i$%, e4.ai) ait# f!r the
reci&ie$t t! rea' a$' re#&!$' hi)e a# i$#ta$t .e##a%i$% a))!# f!r i..e'iate'ia)!%-e6
USSD i# a# #ta$'ar' a feat-re a# SMS a$' i# aai)ab)e i$ a$ e#ti.ate' 5 !f
ha$'#et# t!'ay6 USSD re0-ire# $! &re4c!$fi%-rati!$ !$ the c!$#-.er# SIM !r
ha$'#et a$' i# a)rea'y b-i)t i$t! .!#t GSM $et!r"#6 MNO# '!, h!eer, $ee'
t! c!..ercia)i9e the &r!'-ct by e#tab)i#hi$% the $ece##ary bearer cha$$e) bi))i$%
ca&abi)ity, a$' &r!.!ti$% the -#e !f USSD f!r a)-e a''e' #erice# i$ a''iti!$ t!
i$ter$a) $et!r" a$' c-#t!.er care -#e6
E6%6 fr!. 122 hich !-)' 'e)ier a$ SMS ba)a$ce !f y!-r &re&ai' airti.e
acc!-$t t! a .!re i$t-itie f-)) #erice .e$- a# 'i#c-##e' be)!6
A re%i#tere' c!$#-.er !-)' 'ia) a $-.ber that i$c)-'e# # a$' #6 Thi# $-.ber
c!-)' be #ae' i$ the c!$#-.er=# &h!$e b!!" a# the ba$"=# $a.e t! a!i'
c!$f-#i!$ i$ 'ia)i$% !r hai$% t! re.e.ber the USSD #tri$%6
A$ e
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Mobile Banking
!-)' rec!%$i9e h! the #erice &r!i'erJba$" a# a$' f!rar' the re0-e#t t!
that #erice &r!i'er6 The #erice &r!i'er !-)' re#&!$' by f!rar'i$% t! the
c!$#-.er, thr!-%h the MNO, a te8 NGPAY
NGPA i# a #!ftare a&&)icati!$ )a-$che' by HDF: Ba$" i$ a##!ciati!$ ith
iGraha" that e.&!er# the c-#t!.er t! carry !-t a h!)e ra$%e !f ba$"i$% a$'
c!..erce tra$#acti!$# -#i$% the .!bi)e &h!$e6 !- ca$ '!$)!a' a$' -#e the
NGPA a&&)icati!$ if y!- hae a aa e$ab)e' .!bi)e ha$'#et that #-&&!rt#
e y!- ca$ tra$#fer f-$'# t! a
be$eficiary /3 h!-r# after re%i#teri$% hi. a# a be$eficiary6 If y!- e$ter the r!$%
PIN three ti.e#, it i)) %et 'i#ab)e' a$' y!- !-)' hae t! c!$tact the c-#t!.er
NGPA care !$ 14 24 @223222 f!r re#etti$% the #a.e6 There i# $! char%e t!
tra$#fer f-$'# betee$ HDF: Ba$" acc!-$t#6 I$ ca#e the be$eficiary i# a ?i#a
:ar' CDebit !r :re'it, a $!.i$a) fee# !f R#6 /2J4 C&)-# ta
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Mobile Banking
Usin2 M"/i#e B0n1in2 "n NGPAY, !"6 0n 0v0i# "- 0 3"s "-
-e06res s63 0s
A8 Per-"r5 -6n.s r0ns-er -r"5 !"6r HDFC B0n1 A"6n
B8 S3"4 -r"5 !"6r 5"/i#e 43"ne 6sin2 !"6r HDFC B0n1 Ne
B0n1in2 #"2in
C8 Ge !"6r /0#0ne .e0i#s
D8 O/0in !"6r #0s < r0ns0i"n .e0i#s
E8 Re6es 0 3e6e /""1
F8 S"4 0 3e6e 40!5en
G8 En6ire 3e6e s06s
H8 Re6es 0n 0"6n s0e5en
I8 Ge Fi9e. De4"si .e0i#s
J8 C30n2e !"6r 4ri50r! 0"6n -"r r0ns0i"ns
M0r1ein2 -"r M"/i#e B0n1in2
M!bi)e ba$"i$% i# &!i#e' t! bec!.e the bi% "i))er .!bi)e a&&)icati!$ are$a6
H!eer, Ba$"# %!i$% .!bi)e the fir#t ti.e $ee' t! trea' the &ath ca-ti!-#)y6 The
bi%%e#t 'eci#i!$ that Ba$"# $ee' t! .a"e i# the cha$$e) that they i)) #-&&!rt
their #erice# !$6
M!bi)e ba$"i$% thr!-%h a$ SMS ba#e' #erice !-)' re0-ire the )!e#t a.!-$t
!f eff!rt, i$ ter.# !f c!#t a$' ti.e, b-t i)) $!t be ab)e t! #-&&!rt the f-)) breath!f tra$#acti!$4ba#e' #erice#6 H!eer, i$ .ar"et# )i"e I$'ia here a b-)" !f the
.!bi)e &!&-)ati!$ -#er#= &h!$e# ca$ !$)y #-&&!rt SMS ba#e' #erice#, thi# .i%ht
be the !$)y !&ti!$ )eft6
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O$ the !ther ha$' a .ar"et heai)y #e%.e$te' by the ty&e a$' c!.&)e
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Mobile Banking
SMS B0n1in2 Overvie@
I$ !r'er t! aai) the #erice# .e$ti!$e' ab!e, a -#er #-b#cribi$% t! a ire)e##
carrier #e$'# a$ SMS ith a &re'efi$e' c!'e t! the b-)" #erice &r!i'er=#
$-.ber6
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Mobile Banking
55
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Mobile Banking
The #erice &r!i'er f!rar'# thi# .e##a%e t! the ba$"=# .!bi)e ba$"i$%
a&&)icati!$#6 The .!bi)e ba$"i$% a&&)icati!$# i$terface ith the c!re ba$"i$%
#erer# Cthat c!$tai$ the -#er acc!-$t i$f!r.ati!$ that #erice the re0-e#t .a'e
by the -#er6 The re#&!$#e i# the$ #e$t by the .!bi)e ba$"i$% a&&)icati!$# t! the
b-)" #erice &r!i'er h! i$ t-r$ f!rar' it t! the a)i' -#er ia SMS6
T3ere 0re @" @0!s in @3i3 0 /0n1 0n "556ni0e @i3 0
6s"5er 6sin2
16 SMS I$ the fir#t .eth!' the ba$" &r!actie)y #e$'# 'ata t! c-#t!.er# i$
re#&!$#e t! certai$ tra$#acti!$#6 F!r e6%6 acc!-$t t! acc!-$t tra$#fer, #a)ary cre'it
a$' #!.e &r!.!ti!$a) .e##a%e#6 Thi# 'ata ca$ be #e$t t! the c-#t!.er i$ t!
ay#
/6 E*50i# " 5"/i#e 7E&M8 I$ thi# .eth!', the ba$" #e$'# a$ e.ai) t! the
.!bi)e ba$"i$% a&&)icati!$ thr!-%h a #&ecific e.ai) a''re##6 Thi# e.ai) .ay
c!$#i#t !f the .e##a%e c!$te$t t!%ether ith the .!bi)e $-.ber# !f the c-#t!.er6
The .!bi)e ba$"i$% a&&)icati!$ i$ t-r$ #e$'# thi# .e##a%e i$ a #&ecific f!r.at
Cf!r e6%6 ML ta%# are &art !f a HTTP GET .e##a%e 0-ery #tri$% t! the #erice
&r!i'er=# a&&)icati!$ #erer6 Fr!. here!$ the i$f!r.ati!$ fr!. the ML ta%# i#
e
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Mobile Banking
a# the !$e -#e' i$ the E/M ca#e6 Thi# .e##a%e i# the$ f!rar'e' t! the ire)e##
carrier hich i$ t-r$ f!rar'# thi# .e##a%e t! the c-#t!.er6
I$ the #ec!$' .eth!' the ba$" #e$'# 'ata i$ re#&!$#e t! #&ecific c-#t!.er 0-ery
#-ch a# acc!-$t ba)a$ce 'etai)#6 The c-#t!.er fir#t #e$'# a &re4'efi$e' re0-e#t
c!'e ia SMS t! the B-)" SMS #erice &r!i'er=# re%i#tere' .!bi)e $-.ber6
De&e$'i$% !$ the .e##a%e c!'e, the b-)" SMS &r!i'er f!rar'# the SMS t! a
PULL a&&)icati!$ i$ the .!bi)e ba$"i$% #erer6 The PULL a&&)icati!$ receie#
the re0-e#t a$' f!rar'# it t! the c!re ba$"i$% a&&)icati!$ f!r f-rther &r!ce##i$%6
The c!re ba$"i$% #erer the$ &r!ce##e# thi# .e##a%e a$' #e$'# the re&)y t! the
PULL a&&)icati!$ hich i$ t-r$ f!rar'# i$ t! the c-#t!.er ia the #erice
&r!i'er6 A# i$ the ab!e ca#e# the re0-e#t a$' the re#&!$#e f!r the PULL
a&&)icati!$ .ay be a HTTP GET .e##a%e ith ta%# i$ the 0-ery #tri$%6
P6s3 0n. P6## 5ess02es
SMS Ba$"i$% #erice# are !&erate' -#i$% b!th P-#h a$' P-)) .e##a%e#6 P-#h
.e##a%e# are th!#e that the ba$" ch!!#e# t! #e$' !-t t! a c-#t!.er=# .!bi)e
&h!$e, ith!-t the c-#t!.er i$itiati$% a re0-e#t f!r the i$f!r.ati!$6 Ty&ica))y
&-#h .e##a%e# c!-)' be either M!bi)e Mar"eti$% .e##a%e# !r .e##a%e# a)erti$%
a$ ee$t hich ha&&e$# i$ the c-#t!.er=# ba$" acc!-$t, #-ch a# a )ar%e
ith'raa) !f f-$'# fr!. the ATM !r a )ar%e &ay.e$t -#i$% the c-#t!.er=# cre'it
car', etc6
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Mobile Banking
A$!ther ty&e !f &-#h .e##a%e i# O$e4ti.e &a##!r' COTP#6 OTP# are the )ate#t
t!!) -#e' by fi$a$cia) a$' ba$"i$% #erice &r!i'er# i$ the fi%ht a%ai$#t cyber
fra-'6 I$#tea' !f re)yi$% !$ tra'iti!$a) .e.!ri9e' &a##!r'#, OTP# are re0-e#te'
by c!$#-.er# each ti.e they a$t t! &erf!r. tra$#acti!$# -#i$% the !$)i$e !r
.!bi)e ba$"i$% i$terface6 Whe$ the re0-e#t i# receie' the &a##!r' i# #e$t t! the
c!$#-.er=# &h!$e ia SMS6 The &a##!r' i# e
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Mobile Banking
!r b!th a$' fi$a$cia) a$' $!$4fi$a$cia) tra$#acti!$#6 SMS Ba$"i$% #!)-ti!$# !ffer
c-#t!.er# a ra$%e !f f-$cti!$a)ity, c)a##ifie' by P-#h a$' P-)) #erice# a# !-t)i$e'
be)!6
Ty&ica) P6s3 Serice# !-)' i$c)-'e
Peri!'ic acc!-$t ba)a$ce re&!rti$% C#ay at the e$' !f .!$th>
Re&!rti$% !f #a)ary a$' !ther cre'it# t! the ba$" acc!-$t>
S-cce##f-) !r -$#-cce##f-) e
S-cce##f-) &ay.e$t !f a che0-e i##-e' !$ the acc!-$t> I$#-fficie$t f-$'#>
Lar%e a)-e ith'raa)# !$ a$ acc!-$t>
Lar%e a)-e ith'raa)# !$ the ATM !r !$ a 'ebit car'>
Lar%e a)-e &ay.e$t !$ a cre'it car' !r !-t !f c!-$try actiity !$ a cre'it
:ar'#
O$e4ti.e &a##!r' a$' a-the$ticati!$
Ty&ica) P6## Serice# !-)' i$c)-'e
Acc!-$t ba)a$ce i$0-iry>
Mi$i #tate.e$t re0-e#t>
E)ectr!$ic bi)) &ay.e$t>
Tra$#fer# betee$ c-#t!.er=# !$ acc!-$t#, )i"e .!i$% .!$ey fr!. a
#ai$%# acc!-$t t! a c-rre$t acc!-$t t! f-$' a che0-e>
St!& &ay.e$t i$#tr-cti!$ !$ a che0-e>
Re0-e#ti$% f!r a$ ATM car' !r cre'it car' t! be #-#&e$'e'>
De4actiati$% a cre'it !r 'ebit car' he$ it i# )!#t !r the PIN i# "$!$ t!
be c!.&r!.i#e'>
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Mobile Banking
F!rei%$ c-rre$cy e
Fi
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Mobile Banking
acce## t! a c!.&-ter a$' the I$ter$et6 A)#!, -r%e$t ar$i$% .e##a%e#, #-ch a#
SMS a)ert#, are receie' by the c-#t!.er i$#ta$ta$e!-#)y> -$)i"e !ther cha$$e)#
#-ch a# the &!#t, e.ai), I$ter$et, te)e&h!$e ba$"i$%, etc6 !$ hich a ba$"=#
$!tificati!$# t! the c-#t!.er i$!)e# the ri#" !f 'e)aye' 'e)iery a$' re#&!$#e6
The SMS Ba$"i$% cha$$e) a)#! act# a# the ba$"=# .ea$# !f a)erti$% it# c-#t!.er#,
e#&ecia))y i$ a$ e.er%e$cy #it-ati!$> e6%6 he$ there i# a$ ATM fra-' ha&&e$i$%
i$ the re%i!$, the ba$" ca$ &-#h a .a## a)ert Ca)th!-%h $!t #-b#cribe' by a))
c-#t!.er# !r a-t!.atica))y a)ert !$ a$ i$'ii'-a) ba#i# he$ a &re'efi$e'
Kab$!r.a)= tra$#acti!$ ha&&e$# !$ a c-#t!.er=# acc!-$t -#i$% the ATM !r cre'itcar'6 Thi# ca&abi)ity .iti%ate# the ri#" !f fra-' %!i$% -$$!tice' f!r a )!$% ti.e
a$' i$crea#e# c-#t!.er c!$fi'e$ce i$ the ba$"=# i$f!r.ati!$ #y#te.#6
C"54ens0in2 "nr"#s -"r #01 "- Enr!4i"n
The )ac" !f e$cry&ti!$ !$ SMS .e##a%e# i# a$ area !f c!$cer$ that i# !fte$
'i#c-##e'6 Thi# c!$cer$ #!.eti.e# ari#e# ithi$ the %r!-& !f the ba$"=#
tech$!)!%y &er#!$$e), '-e their fa.i)iarity a$' &a#t e
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Mobile Banking
&erceie' t! be hi%h6 S!.eti.e# ATM ty&e PIN# are a)#! e.&)!ye' b-t the -#a%e
!f PIN# i$ SMS Ba$"i$% .a"e# the c-#t!.er=# ta#" .!re c-.ber#!.e6
Te3n"#"2ies e54#"!e. -"r SMS B0n1in2
M!#t SMS Ba$"i$% #!)-ti!$# are a''4!$ &r!'-ct# a$' !r" ith the ba$"=#
e
.ea$# t! c!$$ect t! the SMS c!-)' be 'iffere$t, #-ch a# -#i$% #i.&)e .!'e.# !r
c!$$ecti$% !er )ea#e' )i$e -#i$% )! )ee) c!..-$icati!$ &r!t!c!)#6 A'a$ce'
SMS Ba$"i$% #!)-ti!$# a)#! cater t! &r!i'i$% fai)!er .echa$i#.# a$' )ea#t4c!#t
r!-ti$% !&ti!$#6
&$+ T3e P"ssi/#e F66re -"r M"/i#e B0n1in2 In HDFC
(8 P0!5en "n 044r"v0# /! SMS
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Mobile Banking
Thi# feat-re a))!# f!r (!i$t acc!-$t# !r b-#i$e## acc!-$t t! hae a &re4
'eter.i$e' )i.it t! &r!.&t f!r either #-&eri#!r !r (!i$t acc!-$t h!)'er a&&r!a)6
A &ay.e$t re0-e#t i# .a'e fr!. the acc!-$t t! a$!ther &re4$!.i$ate' acc!-$t> a
.e##a%e i# the$ #e$' t! either the #-&eri#!r !r (!i$t acc!-$t h!)'er t! a)#!
a&&r!e the &ay.e$t6
&8 T@"*s02e "n-ir5e. 40!5en
Thi# &ay.e$t &r!ce## i# #i.i)ar t! a )etter !f cre'it, he$ the e$' -#er #e$'# a
&ay.e$t i$#tr-cti!$ f!r %!!'# !r #erice#, the a.!-$t !f the &ay.e$t i)) be
tra$#ferre' t! a #&ecific acc!-$t6 The be$eficiary i)) be $!tifie' that the a.!-$t
i# %-ara$tee'6 O$ce the %!!'# !r #erice# are 'e)iere' the e$' -#erJ&ayee i)) be
ab)e t! acce&t !r re(ect the %!!'#J#erice# a$' .a"e &ay.e$t acc!r'i$%)y by
a&&r!i$% !r 'e$yi$% the &ay.e$t &r!ce##6
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&$>C30##en2es "- HDFC M"/i#e B0n1in2 S"#6i"n
;ey cha))e$%e# i$ 'ee)!&i$% a #!&hi#ticate' .!bi)e ba$"i$% a&&)icati!$ are
(8 Iner"4er0/i#i!
There i# a )ac" !f c!..!$ tech$!)!%y #ta$'ar'# f!r .!bi)e ba$"i$%6 Ma$y
&r!t!c!)# are bei$% -#e' f!r .!bi)e ba$"i$% 4 HTML, WAP, SOAP, ML t! $a.e
a fe6 It !-)' be a i#e i'ea f!r the e$'!r t! 'ee)!& a .!bi)e ba$"i$%a&&)icati!$ that ca$ c!$$ect .-)ti&)e ba$"#6 It !-)' re0-ire either the a&&)icati!$
t! #-&&!rt .-)ti&)e &r!t!c!)# !r -#e !f a c!..!$ a$' i'e)y acce&tab)e #et !f
&r!t!c!)# f!r 'ata e
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&8 Se6ri!
Sec-rity !f fi$a$cia) tra$#acti!$, bei$% e
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16 Preferre' La$%-a%e
/6 Date J Ti.e f!r.at
76 A.!-$t f!r.at
36 Defa-)t tra$#acti!$#
56 Sta$'ar' Be$eficiary )i#t
@6 A)ert#
The#e are a fe !f the .!#t &r!bab)e cha))e$%e# that a ba$"i$% !r%a$i9ati!$ !r
c!.&a$y i)) face hi)e $e)y i$tr!'-ci$% the .!bi)e ba$"i$% #y#te. i$t! it#
b-#i$e## &r!ce##e#6 H!eer, a ba$" #h!-)' #ee &a#t a)) the 'iffic-)tie# a$''rabac"# i$ the .!bi)e ba$"i$% #y#te. a# eery a#&ect !f t!'ay=# !r)' ha#
#!.e $e%atie 0-a)ity i$c!r&!rate' i$ it a# eery c!i$ a# t! #i'e# a$' #! !$6
The .ai$ &!i$t that #-ch a ba$" #h!-)' f!c-# !$ i# the be$efit #-ch a #y#te. ha#
i$ the f-t-re a$' h! #-ch a #y#te. i)) he)& the ba$" t! f-rther i$crea#e it#
c-#t!.er ba#e a$' i$crea#e it# b-#i$e## i$ the f-t-re t! c!.e !f the ba$"6
F!r the ti.e bei$% the#e cha))e$%e#, a$' .a$y .!re hich .ay ari#e a$' &!#e a
threat t! the a'!&ti!$ !f .!bi)e ba$"i$% a$' it# #-cce##, i# $!t t! be c!$#i'ere' a#
a rea) 'rabac" beca-#e f!r eery &r!b)e. !r hi$'ra$ce hich .ay !cc-r i$
.!bi)e ba$"i$%, there i# a #!)-ti!$ a$' #-ch #!)-ti!$# are bei$% 'ei#e',
f!r.-)ate' a$' #!)e' by &r!fe##i!$a)# a$' e
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• T! #t-'y the cha))e$%e# !f .!bi)e ba$"i$% ith HDF:
• T! #t-'y the tech$!)!%ica) fact!r affecti$% .!bi)e ba$"i$%6
•
T! ea)-ate the e4c!..erce #erice re$'ere' by ba$"i$% #ect!r ith HDF:6
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CHAPTER )
SURVEY REPORT
The fir#t a$' f!re.!#t rea#!$ f!r c!$'-cti$% a #-rey i# t! better
-$'er#ta$' the ba#ic f-$cti!$a)ity !f .!bi)e ba$"i$%6 The !r"i$% !f the .!bi)e
ba$"i$% #!ftare i$ a ba$"i$% e$ir!$.e$t, the &r!ce'-re i$!)e' i$ a'!&ti$%
thi# #erice a$' the ty&e, c)a## a$' a.!-$t !f &e!&)e that it cater# t!, ca$ be#t be
e
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CHAPTER +
DATA ANALYSIS AND INTERPRETATION
Fr"5 3e s6rve! "n.6e. "n 3e 46/#i
(8 Are !"6 0@0re 0/"6 5"/i#e /0n1in2 servies "--ere. /!
HDFC /0n1
Thi# %ra&h re&re#e$t# the a.!-$t !f c-#t!.er# h! are aare !f the .!bi)e
ba$"i$% faci)ity6
Fr!. thi# %ra&h e ca$ #ee that HDF: c-#t!.er are e)) aare !f the #erice#
#-ch a# .!bi)e ba$"i$% hich are &r!i'e' by ba$" t! the.6 A #erice #-ch a#
.!bi)e ba$"i$% i# 'efi$ite)y $!t a $e c!$ce&t t! the HDF: c-#t!.er6
2
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Mobile Banking
They are re#&!$#ie a$' are a&&reciatie !f the ba$" eff!rt# t! )i%hte$ the )!a' !$
bra$che# a$' #-b#i'iarie#6
&8 D" !"6 4re-er 5"/i#e /0n1in2 "r 3e r0.ii"n0# 5e3". "-
/0n1in2
Thi# %ra&h re&re#e$t# the a.!-$t !f c-#t!.er# h! &refer t! ba$" -#i$% .!bi)e
ba$"i$% #erice# !r tra'iti!$a) ba$"i$% .eth!'#6
Fr!. thi# %ra&h it i# 0-ite c)ear that &e!&)e !f HDF: ba$" are #ti)) eary ab!-t
.!bi)e ba$"i$%6 They #ti)) &refer t! ba$" -#i$% tra'iti!$a) .eth!'# !f ba$"i$%
beca-#e they hae f-)) c!$fi'e$ce i$ #-ch .eth!'#6 The .ai$ rea#!$ f!r the fa)) !f
.!bi)e ba$"i$% %ra&h i# that &e!&)e be)iee that ba$"i$% thr!-%h .!bi)e &h!$e i#
ri#"y a$' that it ca$ )ea' t! i$f!r.ati!$ fa))i$% i$t! the r!$% ha$'#6 H!eer
ith $e a$' i.&r!e' #ec-rity .ea#-re# )i"e e$cry&ti!$, a$' &a##!r'
&r!tecte' #erice# a)) the ri#"# a$' !rrie# ca$ be i&e' aay6
1
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Thi# %ra&h re&re#e$t# the a.!-$t !f c-#t!.er# h! hae c!$fi'e$ce i$ .!bi)e
ba$"i$% !f HDF: ba$"6
Thi# %ra&h #h!# -# that the HDF: c-#t!.er# are c!$fi'e$t e$!-%h t!
e$t-re i$t! ba$"i$% -#i$% .!bi)e &h!$e#6 M!re !er the c-#t!.er# !f !ther#
ba$"# e0-a))y fee) their ba$"# a)#! '! &r!i'e
M!bi)e ba$"i$% faci)itie# a$' they hae c!$fi'e$ce t! -#e6
)8 :3! ." !"6 -ee# 5"/i#e /0n1in2 is /ene-ii0# " s"ie!
7
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Mobile Banking
The %ra&h re&re#e$t# hy .!bi)e ba$"i$% i# be$eficia) t! the #!ciety6
A# it ca$ be c)ear)y #ee$, a .a(!r #e%.e$t !f the #-rey %ra&h &!i$t# !-t that
.!bi)e ba$"i$% #ae# ti.e a$' .!$ey !f the c-#t!.er# a# e)) a# i# be$eficia) i$
a)) three ay# that i#, c!#t effectie f!r ba$"#, #ae# c-#t!.er# ti.e a$' .!$ey
a$' re'-ce# 'e&e$'e$cy !$ ba$" bra$che#6
Thi# #h!# that .!bi)e ba$"i$% i# $!t !$)y be$eficia) t! the c-#t!.er b-t a)#! t!
the ba$" that &r!i'e# the. a# the ba$" ca$ re'-ce it# c!#t by hiri$% feer
&er#!$$e) t! ta"e &!#t i$ ari!-# ba$" bra$che#, it ca$ re'-ce cr!'i$% i$ ba$"
bra$che# beca-#e tra$#acti!$# ca$ be ta"e$ care !ff !r 'ea)t ith ith!-t hai$%
t! e$ter a ba$" bra$ch6
+8 H"@ 50n! i5es !"6 6se 5"/i#e /0n1in2 s!se5 in 3e
5"n3
3
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Mobile Banking
Fr!. the chart it ca$ be !b#ere' that !$ a$ Ma(!rity !f the c-#t!.er# -#e the
faci)ity f!r 14/ ti.e# a .!$th6 O$ a$ aera%e &e!&)e -#e the .!bi)e ba$"i$%
at)ea#t /43 ti.e# i$ a .!$th6
>8 Re0s"ns -"r 6sin2 5"/i#e /0n1in2 servies "--ere. /! HDFC
/0n1
5
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Mobile Banking
A# e ca$ #ee i$ the chart that Ma(!rity !f the &e!&)e ch!!#e HDF: Ba$" '-e t!
#afety !ffere' by the.6 Pe!&)e a)#! &refer HDF: '-e t! f!r bi)) &ay.e$t a$'
.!$ey tra$#fer faci)ity6
8 Re0s"ns -"r n" 6sin2 5"/i#e /0n1in2 servies "--ere. /!
HDFC
@
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The .ai$ rea#!$ f!r $!t -#i$% the faci)ity !ffere' by HDF: i# )ac" !f aare$e##
a.!$%#t the &e!&)e a$' re)-cta$ce t!ar'# $e tech$!)!%y6
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8 :30 ." !"6 3in1 0/"6 3e 5"/i#e /0n1in2 servies
HDFC 6s"5ers 4"in "- vie@
Ma(!rity !f the &e!&)e -#i$% HDF: .!bi)e ba$"i$% faci)itie# are #ati#fie' ith
the #erice# !ffere' by the ba$" a$' c!$#i'er the 0-a)ity !f #erice# i# %!!'6
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O3er /0n1s 6s"5er 4"in "- vie@
Ee$ !ther ba$" c-#t!.er#, -#i$% .!bi)e ba$"i$% are #ati#fie' ith #erice# b-t
c!.&are' t! HDF: Ba$", )e## &e!&)e fee)# it t! be %!!'6
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Mobile Banking
8 H0ve !"6 -0e. 0 si60i"n @3ere in 3e r0ns0i"n is -0i#e.
/6 si## 3e 05"6n is r0ns-erre. -r"5 !"6r 0"6n
A )ar%e a.!-$t !f c-#t!.er# 'i'$8t fi$' a$y #-ch 'iffic-)ty hi)e tra$#acti$% the
a.!-$t thi# i# beca-#e they are e)) -&'ate' ab!-t the tech$!)!%y a$' fi$' it ea#y
t! acce##6 Whi)e !$ the !ther ha$' there i# a #.a)) a.!-$t !f c-#t!.er# f!-$'
#!.e 'iffic-)ty a$' face' #-ch #it-ati!$ '-e t! #!.e tech$ica) rea#!$# a$'
theref!re .i$i.i9e' -#i$% it !fte$6
2
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Mobile Banking
H0ve !"6 2" 3e 05"6n /01
1
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Mobile Banking
('8 R0e 3e "ver0## s0is-0i"n @i3 5"/i#e /0n1in2 s!se5 "-
HDFC /0n1
I$ a)) the .a(!rity !f the c-#t!.er# !f HDF: Ba$" are #ati#fie' ith the #erice#
!ffere' by the. a# e)) a# rate it a# .!re tha$ aera%e, hich #h!# their
c!$fi'e$ce ab!-t the ba$"6
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Mobile Banking
C304er +
C"n#6si"n 0n. re"55en.0i"n
With the ra&i' 'ee)!&.e$t !f tra$#&!rt a$' c!..-$icati!$, &e!&)e
a$' #erice# are c!.i$% t!%ether a# if they ere (-#t ar!-$' the c!r$er6 If thi# i#
the ca#e f!r .a$y #erice#, the$ hy #h!-)' the ba$"i$% i$'-#try )a% behi$'
I$ter$et ba$"i$%, &h!$e ba$"i$%, e4 ba$"i$% a$' $! .!bi)e ba$"i$% a))e$ab)e the ba$" t! be better c!$$ecte' ith the c-#t!.er a$' ice er#a6 A
c-#t!.er h! i# &r!i'e' ith a ariety !f a''iti!$a) #erice# fee)# a&&reciate'
a$' i# .!re )i"e)y t! be )!ya) t! that ba$", hich i# a)ay# a %!!' #i%$ f!r a ba$"6
I$ the e$' .!bi)e ba$"i$% $!t !$)y he) a ba$" t! re'-ce c!#t# b-t a)#!
he) it t! retai$ it# a)-ab)e c-#t!.er#6 A$' a# far a# c-#t!.er# are c!$cer$e',
thi# faci)ity e$ab)e# the c-#t!.er t! ba$" a$yhere, at a$y ti.e a$' i$ a$y
c!$'iti!$, 'efi$ite)y a b!!$ if a c-#t!.er i# #t-c" i$ the .i'')e !f $!here a$'
re0-ire# ba$"i$% #erice# a# #!!$ a# &!##ib)e6
Th-# .!bi)e ba$"i$% he) b!th, the c-#t!.er a# e)) a# the ba$", t!
)i%hte$ the b-r'e$ !f t!'ay=# !r)' a$' t! #ae ti.e, .!$ey a$' e$er%y hich i#
%reat)y re0-ire' a$' a&&reciate'6 I$ a c!.&etitie !r)' here eery!$e i#
aiti$% t! !-t '! the !ther, a he)&i$% ha$', i$ hateer f!r.# a$' fr!. hateer
#!-rce, i# 'efi$ite)y %!' #e$t a$' #h!-)' $!t %! -$rec!%$i9e'6
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Mobile Banking
Bi/#i"2r043!
Refere$ce# f!r the &r!(ect a$' it# re)ate' .atter ere !btai$e' fr!. the
f!))!i$% #!-rce#
16 6i"i&e'ia6c!.
/6 6a$#er#6c!.
76 6ba$"!fbar!'a6c!.
36 htt&JJ6ti''ee6c!.
56 htt&JJtech$!)!%y6c%a&6!r%
@6 htt&JJ6..a%)!ba)6c!.
3
http://www.tiddee.com/http://technology.cgap.org/http://www.mmaglobal.com/http://www.tiddee.com/http://technology.cgap.org/http://www.mmaglobal.com/
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Questionnaire
Na.eVVVVVVVVVVVVVVVVVVVVVVVVVV
1 Are y!- aare !f the .!bi)e ba$"i$% #erice# !ffere' by HDF:
Ba$"
o e#
o N!
/ D! y!- &refer .!bi)e ba$"i$% !r tra'iti!$a) .eth!' !f
ba$"i$%
o M!bi)e Ba$"i$%
o Tra'iti!$a) Ba$"i$%
7 D! y!- hae c!$fi'e$ce i$ the .!bi)e ba$"i$% faci)ity !f
HDF: ba$"
• HDF: c-#t!.er8# &!i$t !f ie
o e#
o N!
• Other c-#t!.er8# &!i$t !f ie
o e#
o N!
3 Why '! y!- fee) that .!bi)e ba$"i$% i# be$eficia) t! the
#!cietyo :!#t effectie f!r the ba$"
o Sae# c-#t!.er# ti.e a$' .!$ey
o Re'-ce# 'e&e$'e$cy !$ ba$" bra$che#
o A$y !ther#
5
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Mobile Banking
5 H! .a$y ti.e# '! y!- -#e .!bi)e ba$"i$% #y#te. i$ a
.!$tho 14/ ti.e#
o 745 ti.e#
o 5412i.e#
o Ab!e 12 ti.e#
o NA
") #easons for using mobile banking serices o$ered
by %FC bank'
o Serice# are #afeo A$y here bi)) &ay.e$t
o St!& &ay.e$t f!r che0-e#
o M!$ey tra$#fer faci)ity
o Other#
Rea#!$# f!r $!t -#i$% .!bi)e ba$"i$% #erice# !ffere' by
HDF: ba$"
o N!t aare !f the .!bi)e ba$"i$% #erice
o Thi$"i$% that .!bi)e ba$"i$% #erice# are $!t #afeo Other rea#!$#
What '! y!- thi$" ab!-t the .!bi)e ba$"i$% #erice
• HDF: Ba$" c-#t!.er# &!i$t !f ie
o G!!'
o Aera%e
o P!!r
o NA
• Other ba$"# c-#t!.er# &!i$t !f ie
o G!!'
@
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Mobile Banking
o Aera%e
o P!!r
o NA
Hae y!- face' #-ch a #it-ati!$ here i$ the tra$#acti!$ ha#
fai)e' b-t #ti)) the .!$ey ha# bee$ tra$#ferre' fr!. y!-r
acc!-$t
o e#
o N!
• Hae y!- %!t the a.!-$t bac"
o e#o N!
12Rate the !era)) #ati#facti!$ ith the .!bi)e ba$"i$% #y#te. !f
HDF: ba$"6
o Hi%h)y #ati#fact!ry
o Sati#fact!ry
o Aera%e
o Di##ati#fact!ry
o N!t aare
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