E-Banking Services in India:

A Broad-Brush Survey of Indian Banks

Vikas Chauhan* and Vipin Choudhary**

In this era of Internet and advanced information and communication technology, it is

very important for banking industry to introduce innovative electronic banking delivery
channels and services. This study attempts to present a comprehensive view of the
current status of e-banking in India and analyze the growth and trends of electronic
channels of banking service delivery. In addition, the study does a comparative analysis
of public and private sector banks. The study is mainly based on two-fold analysis: the
first part analyzes online/PC banking through Diniz model of website survey, and the
second part analyzes other e-banking delivery channels based on secondary data compiled
from Reserve Bank of India website. The analyses revealed that e-banking is becoming
massively popular in India and has led to huge competition among banks. Indian banks
are showing higher growth and trends in terms of electronic banking delivery channels,
and both public and private sector banks provide e-banking services competitively, but
the main competition exists between the SBI Group and new private sector banks.

Introduction
With the development of information communication technology, the scenario of banking
industry has changed (Riffai et al., 2011). In the recent scenario of banking, there has been an
explosion of electronic banking services (Liao and Cheung, 2003), which has created highly
competitive market conditions for banking service providers (Beckett et al., 2000). To retain the
existing customers and to attract new ones, introduction of innovative delivery channel has
become very important to financial institutions (Kimball and Gregor, 1995). The innovative
delivery channel has become so important that various public and private sector banks are
offering new banking channels to their customers with the help of advanced information
technology. The role of information technology in the development of financial services industry,
especially in the banking industry, has become very crucial (Kannabiran and Narayan, 2005).
Internet banking is a new delivery channel for various banking services that have come into
the picture due to innovation in information technology. Internet banking services allow
customers to use remote access to manage their bank accounts and transactions (Weir et al.,
2006). Most of the developed countries have already adopted information technology-based
banking channels like Internet banking/e-banking. But the adoption of Internet banking in

* Research Scholar (JRF), Prestige Institute of Management and Research, Madhya Pradesh 452010, India;
and is the corresponding author. E-mail: vikas.bioinformatics@gmail.com
** Associate Professor and Coordinator - Entrepreneurship Cell, Prestige Institute of Management and Research,
Indore, Madhya Pradesh 452010, India. E-mail: vipinchoudhary@rediffmail.com

© 2016 IUP. All Rights Reserved.

28 The IUP Journal of Bank Management, Vol. XV, No. 1, 2016
India is not as rapid as their developed counterparts. However, the emergence of various
private sector banks in the country during the mid-1990s has changed the scenario drastically,
as the business model of these banks revolved around a strong IT backbone. The emergence
and success of private banks over the last decade has put competitive pressure on the public
sector banks to consider IT as a strategic necessity to remain competitive (Kannabiran and
Narayan, 2005).
Internet banking has attracted a great deal of attention in the financial industry, more
specifically in banks, and the emergence of new delivery channel has resulted in numerous
research papers (Egland et al., 1998). In spite of the worldwide interest on this subject, very less
systematic researches are available regarding how many banks offer online banking services
and what kind of services are being provided by them. More specifically, in the Indian context,
there are some studies available that provide information about importance of Internet banking,
factors affecting the use of Internet banking, etc. But no research was found that provides a
holistic and comprehensive overview of Internet banking /e-banking. Considering this, the present
study aims to provide a comprehensive view of the current state and performance of Internet
banking/e-banking channels in India.

Literature Review
Online/PC Banking Services and Offerings
Internationally, Egland et al. (1998) reviewed transactional websites of 223 US banks to determine
the range of services offered. Diniz (1998) conducted a survey of websites of 121 banks in the
US to learn about web banking models adopted in the US. The study used three different
categories to better understand the website structure: information delivery, transaction channel
and customer relationship. Each one of these categories was split into three levels of interaction:
basic, intermediate and advanced. Jasimuddin (2001) took a closer look at the websites of
eight banks of Saudi Arabia to find as to what kind of information is available on the Internet
banking services offered. Furst et al. (2002) analyzed websites of 1,364 banks out of a total
2,517 national banks in the US through a questionnaire filled by the examiners from the Office
of the Comptroller of the Currency (OCC) and provided information about key Internet banking
services offered by the banks. Vijayan and Shanmugam (2003) performed an observation
survey of the transaction sites of five leading banks which provide Internet banking platform
and services by using structured observation technique through a set of 40 questions. Bojinov
(2003) estimated the websites of 31 banks out of 35 licensed banks to present the actual
picture of Bulgarian banks and what kind of banking services are offered online. Guru et al.
(2003) analyzed the websites of 37 banks from various Islamic countries through a model
similar to that proposed by Diniz (1998). Awamleh and Fernandes (2005) analyzed the websites
of 35 banks in the United Arab Emirates using the Diniz (1998) model to assess the extent of
adoption. Yeap and Cheah (2005) investigated 17 Internet banks of Malaysia through a survey
of the banks’ websites and examined the levels of retail Internet banking services provided by
foreign and domestic commercial banks in Malaysia. Miranda et al. (2006) manually accessed
and evaluated 98 websites of Spanish private and savings banks by using Web Assessment

E-Banking Services in India: A Broad-Brush Survey of Indian Banks 29

Index (WAI) and analyzed the quality of the website on the basis of accessibility, speed, navigability
and site content. Migdadi (2008) evaluated the websites of 16 Jordan banks and 17 UK banks
using Quantitative Evaluation Method (QEM). In India, Malhotra and Singh (2010) presented
the status of Internet banking and the extent of Internet banking services through a survey of
the websites of 82 Indian public, private and foreign banks. Singh and Kaur (2012) conducted
an in-depth analysis of two leading public and private sector banks’ online portals using content
analysis technique.

Other E-Banking Delivery Channels

Lal and Saluja (2012) presented the e-banking scenario of India using secondary data. The
study analyzed the growth and progress of Indian banks in terms of e-banking. Uppal (2011)
conducted a study that exhibits the growth of information technology in various bank groups in
India. Jamaluddin (2013) analyzed the growth and development of e-banking in India through
performance analysis of various electronic delivery channels. Batra and Bhatia (2014) studied
the development in the banking sector of India with reference to IT and e-banking.

Objectives
The main objectives of the study are:
• To present a comprehensive view of the current status of e-banking in India;
• To analyze the growth and trends of e-banking in India; and
• To do a comparative analysis of public and private sector banks in terms of e-banking.

Methodology
The current state and the progress of e-banking in India are measured through five parameters,
namely, online/PC banking, mobile banking, ATM, Point of Sale (POS) and electronic cards
(debit and credit cards).
The study was divided into two parts: First, an analysis of online/PC banking was done
through a survey of the sample banks’ websites to get comprehensive information about online
banking services and offerings. For this purpose, Diniz model was adopted. The survey was
conducted during the period November and December 2014. Second, performance analysis of
other e-banking delivery channels and instruments (mobile banking, ATM, POS and electronic
cards) was done using secondary data compiled and calculated through statistical and
mathematical tools such as simple growth rate, percentages and averages. To calculate growth,
the following formula was used:
Growth = Vpresent – Vbase / Vbase  100
where
Vpresent = Value of current year; and Vbase = Value of base year (starting year).
The banks that were operating in India as on March 31, 2014 according to Reserve Bank of
India were considered for the study. The sample banks were selected from the five major bank

30 The IUP Journal of Bank Management, Vol. XV, No. 1, 2016

groups which were divided as follows: public sector banks [Nationalized Banks (NB) and State
Bank of India Group (SBIG)], private sector (Old private and New private) and Foreign Banks
(FB). Foreign banks with branches in India as on the website of Ministry of Finance, Government
of India were selected for the study. The study did not include those banks whose websites were
not found even after best efforts and these were considered as non-Internet banks.
Out of a sample of 76 banks, it was observed that only 53 banks provide online banking
and allowed transactions to be initiated through the Internet. All the public and private sector
banks provide it, but in the case of foreign banks, only 7 out of 30 are providing it (see Table 1).

Table 1: Banks Allowing Online Services

Name of the Banks Group No. of Banks Sampled No. of Banks Providing
Online Banking
Public Sector Banks
– NB 20 20
– SBIG 6 6
Private Sector Banks
– Old 13 13
– New 7 7
Foreign Banks 30 7*
Total 76 53
Note: * We consider foreign banks that have websites exclusively for India and provide online banking
services to Indian consumers.
Source: Reserve Bank of India and individual websites of sample banks

For further analysis, we consider only those banks that provide online banking. We adopt
Diniz’s model (1998) to analyze online banking services and offerings. As per the model (see
Exhibit 1), all the services are categorized into three groups: information delivery services,
transactional services and customer relationship services. Further, each group is divided into
three interactivity levels: basic, intermediate and advanced.

Exhibit 1: The Model

Basic Intermediate Advanced
(Incremental) (Improvement) (Transformation)
Services provided by Services that open
Services through a
banks to improve the possibilities for
bank can only
services and activities business
reproduce the way it
through specific transformation and
works with other
features of the the creation of new
media than the web.
Internet. business
opportunities.
Information E.g., institutional E.g., search engines, E.g., use of
Delivery and promotional report and forms customizing
Services which are information, ways to downloads, etc. resources besides
provided by banks as contact bank, offers, some advertisements
an information etc. or discussion groups
delivery tool through etc.
website.

E-Banking Services in India: A Broad-Brush Survey of Indian Banks 31

 Exhibit 1 (Cont.)
Transactional E.g., applications and E.g., at this level the E.g., considering
Services for request for products client has to have banks that are
conducting most and services, etc. some access to the working primarily via
common bank database. web, e-cash, etc.
transactions, same as
in branch offices or
ATMs.
Customer E.g., suggestions and E.g., advising tools E.g., More advanced
Relationship complaints. are offered as a technologies, video
Services which support to make conferencing, etc.
improve customer financial decisions.
relationship.

Results and Discussion

Online Banking/PC Banking
Information Delivery Services
Banks use information delivery services as a vehicle to publish information and Table 2 shows
the detailed survey results of the Internet banking information delivery services and percentage
of banks which are providing particular online banking services to the customer.
Table 2: Percentage of Banks Offering Online
Banking Information Delivery Services
All All NB SBIG All Old New FB
Banks PSBs Private
Basic
1 Information about 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
bank
2 Product and 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
services
information
3 Contact information 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
4 ATM and branch 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
location
5 Tender information 60.4 100.0 100.0 100.0 30.0 46.2 0.0 0.0
6 Offers 17.0 7.7 10.0 0.0 30.0 15.4 57.1 14.3
Intermediate
7 Forms download 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
8 Financial 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
information
and reports
9 Interest rate updates 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0

32 The IUP Journal of Bank Management, Vol. XV, No. 1, 2016

 Table 2 (Cont.)

All All NB SBIG All Old New FB

Banks PSBs Private
10 Search engines 88.7 92.3 90.0 100.0 85.0 84.6 85.7 85.7
11 Foreign exchange
rate updates 50.9 30.8 30.0 33.3 60.0 61.5 57.1 100.0
Advanced
12 Advertisement 96.2 100.0 100.0 100.0 100.0 100.0 100.0 71.4
and promotion
13 Online interface 1.9 0.0 0.0 0.0 5.0 7.7 0.0 0.0
through chat
14 Customize resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
15 Discussion group 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
(through social
media)
Source: Individual websites of sample banks. Accessed during November and December 2014

On the whole, it is observed that almost all banks are very interested in providing informational
content on their websites. At the basic interactivity level, every bank provides information
about institution, its products and services, contact information and ATM and branch locator
on its website. Offers to promote Internet banking services and transactions are in a poor state.
Out of 17% of total banks providing it, 7.7% of public sector banks and only 30% of private
sector banks are interested in giving offers; however, new private sector banks are doing well
with 57.1%. All the public sector banks are providing detailed tender information on their
websites, but private sector banks, mainly new private sector banks, and foreign banks are not
interested in providing the same.

At the intermediate level, we observe that all the banks are very interested in providing
financial information on their websites with a facility to download the annual reports; they also
enable customers to download various utility forms in PDF format. All the banks provide
interest rates on their websites. While 50.9% of the banks provide foreign exchange rate updates,
private sector banks are in the lead with 60%, compared to public sector banks with 30%.
In the advanced interactivity level, we found that all public and private sector banks are
advertising and promoting their various banking products on their websites, while only 71.4%
of foreign banks are doing the same. Services like discussion group provide a platform for
gathering customers to exchange their ideas, information, and suggestions on the bank’s products
and services. None of the banks is providing it on its website, but all the banks are utilizing
social media (Facebook, Twitter, etc.) for this purpose and this shows the banks’ major presence
in the social media. There are no services like online interface and customized resources and
none of the banks is interested in providing these services.

E-Banking Services in India: A Broad-Brush Survey of Indian Banks 33

Transactional Services
At the basic transactional level, we consider mainly online applications and online requests for
the most common banking products (see Table 3, items 16 to 48). It is observed that the
performance of public and private sector banks is satisfactory compared to foreign banks. RBI
does not permit the banks to allow account opening online; however, 58.5% of total banks
provide it as customers are allowed only to feed their personal details and what they are seeking
in the online application so that the bank can contact them accordingly. 50% of public sector
banks and 83.3% of SBI Group banks allow online application for new account opening, while
70% of all private sector banks and 100% of new private sector banks allow it. Only 20.8% of
all the banks offer the facility to apply for credit and debit cards because some important
documents are required for it; however, 85.7% of new private sector banks allow it only for
credit cards so as to get information and personal details of the customers who are seeking
credit cards. A few banks are taking initiative to provide online filing of income tax returns
through their websites with collaboration of other tax filing websites or companies. Only 20.8%
of all banks are providing this service, while SBI Group banks are leading with 50%. Foreign
banks are yet to commence this service. Some services are on request like blocking cards or
replacement for lost cards and request for stopping payment of cheque. These services require

Table 3: Percentage of Banks Offering Online

Banking Transactional Services

All All NB SBIG All Old New FB

Banks PSBs Private

Basic
16 Account opening 58.5 50.0 40.0 83.3 70.0 53.9 100.0 57.1
application
17 Loan application 75.5 92.3 90.0 100.0 60.0 38.5 100.0 57.1
18 Credit/debit card 20.8 3.9 0.0 16.7 35.0 7.7 85.7 42.9
application
19 Loan status check 64.2 73.1 65.0 100.0 65.0 53.9 85.7 28.6
20 E-mail statement 49.1 30.8 35.0 16.7 60.0 38.5 100.0 85.7
21 TDS enquiry 50.9 34.6 25.0 66.7 85.0 76.9 100.0 14.3
22 File IT returns online 20.8 23.1 15.0 50.0 25.0 15.4 42.9 0.0
23 Online insurance 35.9 26.9 25.0 33.3 50.0 30.8 85.7 28.6
application
24 Stop cheque 69.8 65.4 55.0 100.0 75.0 61.5 100.0 71.4
payment request
25 Block card request 20.8 23.1 0.0 100.0 25.0 23.1 28.6 0.0
26 Check book request 69.8 61.5 55.0 83.3 75.0 61.5 100.0 85.7

34 The IUP Journal of Bank Management, Vol. XV, No. 1, 2016

 Table 3 (Cont.)
All All NB SBIG All Old New FB
Banks PSBs Private
Intermediate
27 Balance enquiry 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
28 Periodic account 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
statement
29 Bills payment 98.1 100.0 100.0 100.0 100.0 100.0 100.0 85.7
30 Fund transfer 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
(Own account)
31 Third-party fund 96.2 100.0 100.0 100.0 100.0 100.0 100.0 71.4
transfer
32 Online SI for 45.3 42.3 35.0 66.7 55.0 46.2 71.4 28.6
scheduled payment
33 Online ASBA 56.6 73.1 65.0 100.0 55.0 38.5 85.7 0.0
34 E-remittance 54.7 38.5 40.0 33.3 70.0 53.9 100.0 71.4
35 Online trading 67.9 80.8 75.0 100.0 60.0 53.9 71.4 42.9
36 Online shopping 77.4 69.2 65.0 83.3 90.0 84.6 100.0 71.4
37 Online tax payment 86.8 100.0 100.0 100.0 80.0 69.2 100.0 57.1
38 Online ticket booking 84.9 88.5 85.0 100.0 90.0 84.6 100.0 57.1
39 Online charity 67.9 73.1 70.0 83.3 75.0 61.5 100.0 28.6
40 Online DD 54.7 53.9 40.0 100.0 55.0 38.5 85.7 57.1
41 Online FD 62.3 50.0 35.0 100.0 70.0 53.8 100.0 85.7
42 Online investment 62.3 53.8 40.0 100.0 65.0 46.2 100.0 85.7
43 Corporate internet 92.5 96.2 95.0 100.0 90.0 84.6 100.0 85.7
banking
44 Demo of online 94.3 96.2 95.0 100.0 95.0 92.3 100.0 85.7
banking
Advanced
45 E-cash 9.4 7.7 5.0 16.7 15.0 7.7 28.6 0.0
46 Electronic signature 3.8 3.8 0.0 16.7 0.0 0.0 0.0 14.3
47 Virtual bank 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
48 E-banking kiosks/ 39.6 50.0 60.0 16.7 40.0 15.4 85.7 0.0
e-lobby
Source: Same as Table 2

some kind of login feature. Among all the banks, only 20.8% are providing block card request
facility and 69.8% are enabling customers to request for stop payment of cheque through
online banking.

E-Banking Services in India: A Broad-Brush Survey of Indian Banks 35

 At the intermediary transaction level, we consider those services that are common, which
every client wants to see on his/her bank website and services which demand higher security
standards. These services require login details and some level of access to bank databases. It is
observed that the most essential and utilitarian Internet banking transactional services like
balance enquiry, periodic account statement, bills payment, fund transfer, and third party fund
transfer are provided by almost all banks on a priority basis. It is also observed that almost all
the banks are providing demo on Internet banking services which is very helpful to the customers.
Another beneficial service is online standing instruction for scheduled payment. Banks are
showing least interest in it, but again SBI Group and new private sector banks are showing
satisfactory performance with 66.7% and 71.4%, respectively. Banks are giving importance to
other value-added intermediate transactional services like online trading, online shopping, online
ticket booking, online charity and online investment, and a substantial percentage of all banks
are providing these services. Again SBI Group and new private sector banks are leading in
offering these services, while foreign banks are lagging behind. A total of 56.6% of all banks,
73.1% of public sector and 55% of private sector banks are providing the innovative service of
investing in IPOs (Initial Public Offerings) through ASBA (Applications Supported by Blocked
Amount) facility, while none of the foreign banks provides it. Another beneficial service, i.e.,
e-remittance, which enables NRI customers to send money directly to India quickly, easily and
in a secure way, is provided by more than half of all banks. Public sector banks are lagging
behind in providing this service compared to private and foreign banks.
At the advanced level of transactional services, we found that none of the banks is providing
this service significantly. E-banking kiosks and e-lobby established by banks are included in this
category because this facility has the ability to transform e-banking scenario. At present, 39.6%
of all banks have e-lobbies in India, and new private sector banks are leading in providing this
service.
In general, there is stiff competition between public and private sector banks mainly between
SBI Group and new private sector banks, while foreign banks, though performing satisfactorily,
need to focus on basic transactional services.

Customer Relationship Services

Table 4 (items 49 to 56) shows the services which are found in the category of customer
relationship. At the basic level of customer relationship, we considered services like grievances
redressal, SMS alerts and customer queries through e-mail, because banks are using these
services for security alerts as well as for providing some kind of beneficial information to
customers or on a keep-in-touch basis. Banks are doing well with basic customer relationship
services; almost all the banks are offering these three services.
At the intermediate level, we have identified two main services, i.e., online calculators and
software downloading facility. Apart from these two services, we also consider SMS banking
and mobile banking services; however, though these are not online or PC banking services, they
can improve customer relationship in terms of Internet banking. Almost all the public and
private sector banks are providing these services, but foreign banks a little behind.

36 The IUP Journal of Bank Management, Vol. XV, No. 1, 2016

 Table 4: Percentage of Banks Offering Online Banking
Customer Relationship Services

All All NB SBIG All Old New FB

Banks PSBs Private

Basic

49 Grievances 96.2 100.0 100.0 100.0 95.0 92.3 100.0 85.7

redressal

50 Receive alerts 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
through SMS

51 Customer query 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
through e-mail

Intermediate

52 Calculators 94.3 100 100 100 85 76.9 100 100

53 Software download 79.2 80.77 75.0 100 75 61.5 100 85.7

54 SMS banking 90.6 92.3 95.0 83.3 100.0 100.0 100.0 57.1

55 Mobile banking 98.1 100.0 100.0 100.0 100.0 100.0 100.0 85.7

Advanced

56 Video conferencing 7.5 3.8 0.0 16.7 15.0 0.0 42.9 0.0
(video branch)
Source: Same as Table 2

From the survey, we found only one service in the category of advanced customer relationship
services, i.e., videoconferencing or video branch. We also include those banks that provide this
service through mobile and digital branches. Banks seem to be not feeling the necessity for this
service at present, because only 7.5% of total banks are providing it.

Growth in Terms of Online Banking/PC Banking Services

To show growth in terms of online banking in India, we consider a study conducted by Malhotra
and Singh (2010) as a base study and we found that there is significant growth in online
banking scenario. According to their study, 72% of private sector banks and 96% of public
sector banks were providing Internet banking, but in the current scenario all public and private
sector banks are providing it and there is a huge increase in the percentage of banks that
provide particular Internet banking service. At present, some important online banking services
like fund transfer, third-party fund transfer, bills payment and SMS alerts are provided by
almost all banks, whereas in 2008 (survey period of base study) 85.7%, 83.7%, 59.2% and
51% of banks were providing the above services, respectively. Other services like online trading,
online shipping, online ticket booking, online tax payment, online charity, account opening
application, loan application and e-mail account statement have grown to 67.9%, 77.4%,

E-Banking Services in India: A Broad-Brush Survey of Indian Banks 37

84.9%, 86.8%, 67.9%, 58.5%, 75.5% and 49.1%, respectively in this study period from 24.5%,
22.4%, 46.9%, 32.7%, 18.4%, 30.6%, 32.7% and 8.2%, respectively in the base period.

Other E-Banking Delivery Channels

In this section, the study mainly aims to analyze the current state, growth and trends of
e-banking delivery channels in terms of mobile banking, ATM, POS and electronic cards which
are the major instruments of e-banking in India.

Mobile Banking
Table 5 shows the number of mobile banking users and their growth in India. From 2010-11 to
2013-14, there was a huge increase in mobile banking users and it has grown to 495.64%
during the period. The number of transactions performed through mobile banking also showed
enormous growth. There were 6.85 million transactions in 2010-11 which reached 94.6 million
transactions in the year 2013-14. Public sector banks are leading with 60.84% transactions of
all banks, the major share being that of SBI Group banks. Private sector banks have 36.09%
share which is only due to the good performance of new private sector banks (Table 6). Overall,

Table 5: Number of Mobile Banking Users

Year No. of Users (million) Growth (in %)
2010-11 5.96
2011-12 12.96 117.45
2012-13 22.51 277.68
2013-14 35.50 495.64
Source: Reserve Bank of India

Table 6: Number of Transactions Done Through Mobile Banking

Public Sector Banks Private Sector Banks

Year FB Total
All NB SBIG All Old New
No. of Tr 5.40 0.16 5.24 1.27 0.01 1.26 0.17 6.85
2010-11 %G – – – – – – – –
%S 78.83 2.34 76.50 18.54 0.15 18.39 2.48 100
No. of Tr 21.77 0.56 21.20 3.40 0.36 3.04 0.38 25.55
2011-12 %G 303.15 250 304.58 167.72 3,500 141.27 123.53 272.99
%S 85.21 2.19 82.97 13.31 1.41 11.90 1.49 100

No. of Tr 39.21 1.48 37.73 12.56 0.70 11.86 1.27 53.05

2012-13 %G 626.11 825 620.04 888.98 6,900 841.27 647.06 674.45
%S 73.91 2.79 71.12 23.68 1.32 22.36 2.39 100

38 The IUP Journal of Bank Management, Vol. XV, No. 1, 2016

 Table 6 (Cont.)
Public Sector Banks Private Sector Banks
Year FB Total
All NB SBIG All Old New
No. of Tr 57.55 2.63 54.92 34.14 1.16 32.98 2.91 94.6
2013-14 %G 965.74 1,543.75 948.09 2,588.19 11500 2,517.46 1,611.76 1,281.02
%S 60.84 2.78 58.05 36.09 1.23 34.86 3.08 100
Note: No. of Tr – Number of financial transactions done; % G – Percentage Growth; and % S – Percentage
Share.
Source: Compiled from Bank-Wise Volumes in ECS/NEFT/RTGS/
Mobile Transactions, Reserve Bank of India

it reveals that people are showing great interest in it, and the mobile banking is showing good
growth rate in India.

ATM
In India, ATM is a major channel of e-banking delivery; the growth of ATMs in India is in a very
good trend. Table 7 shows the total number of ATMs deployed by all banks as at end March
from 2010 to 2014. It is showing 166.08 percentage of growth in 2014 compared to 2010, with
an average of 27.89% every year. As of March 2014, public sector banks had 1,10,424 ATMs
out of 1,60,055 ATMs of all banks. Among all banks, nationalized banks are leading. It is also
observed that all the banks are showing very good growth percentage, except foreign banks.
The share of public sector banks has always been higher and as of March 2014, they had 68.99%
share among all banks. The performance of new private sector banks is good, while foreign banks
had only 0.73% share. They are showing very poor growth rate.

Table 7: Number of ATMs Deployed by Banks

Public Sector Banks Private Sector Banks
Year FB All Banks
All NB SBIG All Old New
No. of
ATMs 40,680 19,702 20,978 18,447 3,390 15,057 1,026 60,153
2010 %G – – – – – – – –
%S 67.63 32.75 34.87 30.67 5.64 25.03 1.71 100
No. of 49,487 24,836 24,651 23,651 4,126 19,525 1,367 74,505
ATMs
2011 %G 21.65 26.06 17.51 28.21 21.71 29.67 33.24 23.86
%S 66.42 33.33 33.09 31.74 5.54 26.21 1.83 100
No. of 58,193 31,050 27,143 36,079 5,771 30,308 1,414 95,686
ATMs
2012 %G 43.05 57.6 29.39 95.58 70.24 101.29 37.82 59.07
%S 60.82 32.45 28.37 37.71 6.03 31.67 1.48 100

E-Banking Services in India: A Broad-Brush Survey of Indian Banks 39

 Table 7 (Cont.)
Public Sector Banks Private Sector Banks
Year FB All Banks
All NB SBIG All Old New
No. of 71,354 37,061 32,591 43,101 7,566 35,535 1,261 1,15,716
ATMs
2013 %G 75.4 88.11 55.36 133.65 123.19 136 22.9 92.37
%S 61.66 32.03 28.16 37.25 6.54 30.71 1.09 100
No. of 1,10,424 59,296 51,128 48,467 9,384 39,083 1,164 1,60,055
ATMs
2014 %G 171.45 200.96 143.72 162.74 176.81 159.57 13.45 166.08
%S 68.99 37.05 31.94 30.28 5.86 24.42 0.73 100
Source: Compiled from Bank-Wise ATM/POS/Card Statistics, Reserve Bank of India and
Report on Trends and Progress of Banking in India 2010-11

Table 8 shows the total number of transactions (in million) performed through ATMs by
debit and credit cards for the financial years 2011-12 to 2013-14. In 2013-14, there were
6,090.98 million transactions conducted by customers of all banks through ATMs, which
shows 19.76% growth compared to 2011-12. Public sector banks are far ahead of private
sector banks as 4,639.71 million transactions were performed through their ATMs in 2013-
14 with 27.34% growth. Private sector banks stay at 1,378.64 million transactions in the
same year and show only 0.51% growth compared to 2011-12. Foreign banks are lagging
behind with 72.63 million transactions in 2013-14. Public sector banks have highest percentage
share in terms of transactions through ATMs as they have large number of ATMs, and even
they have shown an increase in percentage share from 2011-12 to 2013-14, while private
and foreign banks are showing a decreasing trend. SBI Group banks are performing well
among all the banks.

Table 8: Number of Transactions Through ATMs

Public Sector Banks Private Sector Banks

Year FB All Banks
All NB SBIG All Old New

No. 3,643.67 1,434.41 2,209.26 1,371.65 225.74 1,145.91 70.85 5,086.17

of Tr
2011-12 % G – – – – – – – –
%S 71.64 28.2 43.44 26.97 4.44 22.53 1.39 100
No. 3,958.16 1,477.8 2,480.36 1,283.21 219.8 1,063.41 72.61 5,314.98
of Tr
2012-13 % G 8.63 3.02 12.27 –6.45 –2.63 –7.2 2.48 4.5
%S 74.47 27.8 46.67 24.14 4.14 20.01 1.37 100

40 The IUP Journal of Bank Management, Vol. XV, No. 1, 2016

 Table 8 (Cont.)
Public Sector Banks Private Sector Banks
Year FB All Banks
All NB SBIG All Old New

2013-14 No. 4,639.71 1,710.33 2,929.38 1,378.64 252.33 1,126.31 72.63 6,090.98
of Tr
%G 27.34 19.24 32.6 0.51 11.78 –1.71 2.51 19.76
%S 76.17 28.08 48.09 22.63 4.14 18.49 1.19 100

Source: Compiled from Bank-Wise ATM/POS/Card Statistics, Reserve Bank of India

POS
Table 9 indicates the total number of POS devices deployed by all banks for the period 2011 to
2014. Private sector banks hold the top position by deploying 7,96,571 POS devices as of
March 2014 and with a market share of 74.73%. Among all the private sector banks, only new
private sector banks have highest share, while old private sector banks hold only 3.02% share.
They have shown an amazing growth, with 594.64% in 2014 compared to 2011. Public sector
banks have 20.03% share, and among them SBI Group holds 13.43%. Foreign banks have
5.24% share showing 36.76% growth in 2014 compared to 2011.

Table 9: Number of Point of Sale (POS) Deployed by Banks

Public Sector Banks Private Sector Banks
Year FB All Banks
All NB SBIG All Old New
No. of 53,222 53,222 0 5,01,902 4,630 4,97,272 40,834 5,95,958
POS
2011 %G – – – – – – – –
%S 8.93 8.93 0 84.22 0.78 83.44 6.85 100
No. of 55,013 55,013 0 5,62,896 11,458 5,51,438 43,011 6,60,920
POS
2012 %G 3.37 3.37 0 12.15 147.47 10.89 5.33 10.9
%S 8.32 8.32 0 85.17 1.73 83.43 6.51 100

No. of 1,21,633 56,085 65,548 6,86,761 24,556 6,62,205 45,896 8,54,290

POS
2013 %G 128.54 5.38 0 36.83 430.37 33.17 12.4 43.35
%S 14.24 6.57 7.67 80.39 2.87 77.52 5.37 100
No. of 2,13,567 70,369 1,43,198 7,96,571 32,162 7,64,409 55,846 10,65,984
POS
2014 %G 301.28 32.22 118.46 58.71 594.64 53.72 36.76 78.87
%S 20.03 6.6 13.43 74.73 3.02 71.71 5.24 100
Source: Same as Table 8

E-Banking Services in India: A Broad-Brush Survey of Indian Banks 41

 Table 10 shows the total number of transactions (in million) through POS devices by debit
and credit cards during the financial years 2011-12 to 2013-14. It is good to see that all the
banks are showing growth. Public sector banks show the highest growth compared to private
sector banks, but in terms of share percentage, private sector banks hold the top position with
maximum contribution from new private sector banks. Old private sector banks have the least
share in terms of transactions performed among all, i.e., 1.90%, but they are showing highest
growth among all banks from 2011, i.e., 130.01%, with increasing percentage of share every
year. The share percentage of public and private sector banks has been increasing every year,
while the share percentage of foreign banks has been decreasing.

Table 10: Number of Transactions Through POS

Public Sector Banks Private Sector Banks

Year FB All Banks
All NB SBIG All Old New
No. 182.66 76.05 107 310 9.33 300.81 153 645.76
of Tr
2011-12 % G – – – – – – – –
%S 28.29 11.78 16.51 48.03 1.44 46.58 23.69 100
No. 273.01 116.26 156.75 416.02 14.15 401.87 174.54 863.57
of Tr
2012-13 % G 49.46 52.87 47 34 51.66 33.60 14 33.73
%S 31.61 13.46 18.15 48.17 1.64 46.54 20.21 100
No. 374.07 154.26 219.81 561.18 21.46 539.72 192.87 1,128.12
of Tr
2013-14 % G 104.79 102.84 106.18 80.94 130.01 79.42 26.09 74.7
%S 33.16 13.67 19.48 49.74 1.90 47.84 17.1 100
Source: Same as Table 8

Electronic Cards
Credit Cards: Table 11 shows the outstanding number of credit cards issued by Indian banks
as at end of March 2014. The number of credit cards issued declined till 2012 or showed a
negative growth, but after that at the end of March 2014, banks issued 19.19 million credit
cards with 4.69% growth compared to 2010. In 2014, the total cards issued by private sector
banks is highest, i.e., 10.61 million which is 55.29% of total issued cards and showing 11.68%
growth compared to 2010. The major share is of new private sector banks, that is, 54.30%,
and that of old private sector banks is 0.99%, but they are showing highest growth of 216.67%
compared to 2010. The share of public sector banks is just 20.06% with 3.85 million cards
issued in 2014, while the share of foreign banks is 24.65% with 4.73 million cards, but showing
continuously a negative growth till 2014.

42 The IUP Journal of Bank Management, Vol. XV, No. 1, 2016

 Table 11: Number of Credit Cards Issued by Banks

Public Sector Banks Private Sector Banks

Year FB All Banks
All NB SBIG All Old New
No. of 3.26 0.73 2.53 9.5 0.06 9.44 5.57 18.33
Cards
2010 %G – – – – – – – –
%S 17.79 3.98 13.80 51.83 0.33 51.50 30.39 100
No. of 3.08 0.78 2.30 9.32 0.04 9.28 5.64 18.04
Cards
2011 %G –5.52 6.85 –9.09 –1.89 –33.33 –1.69 1.26 –1.58
%S 17.07 4.32 12.75 51.66 0.22 51.44 31.26 100
No. of 3.06 0.84 2.22 9.67 0.04 9.63 4.92 17.65
Cards
2012 %G –6.13 15.07 –12.25 1.79 –33.33 2.01 –11.67 –3.71
%S 17.34 4.76 12.58 54.79 0.23 54.56 27.88 100
No. of 3.46 0.89 2.57 11.12 0.04 11.08 4.95 19.53
Cards
2013 %G 6.13 21.92 1.58 17.05 –33.33 17.37 –11.13 6.55
%S 17.72 4.56 13.16 56.94 0.20 56.73 25.35 100
No. of 3.85 0.99 2.86 10.61 0.19 10.42 4.73 19.19
Cards
2014 %G 18.10 35.62 13.04 11.68 216.67 10.38 –15.08 4.69
%S 20.06 5.16 14.90 55.29 0.99 54.30 24.65 100
Source: Same as Table 7

Table 12 contains the information about total number of transactions done by credit cards
through ATMs and POS during the financial years 2011-12 to 2013-14. It shows the growing
number of transactions every year from 2011-12 and it reached 511.99 million transactions
and a growth of 59.79% in 2013-14. As of March 2014, private sector banks lead with highest
percentage share, i.e., 53.67%, which is continuously increasing every year and they are also
showing highest growth, i.e., 86.35%, which is only due to new private sector banks because
old private sector banks have only 0.22% share, but they are showing highest growth. In this
case, foreign banks hold second position with 30.81 percentage share in 2014, while public
sector banks have only 15.52% share with a good percentage of growth.
Debit Cards: Table 13 shows the outstanding number of debit cards issued by banks in India
as at end of March 2014. It is very worthwhile to note that the growth of debit cards has been
increasing significantly every year, and at the end of March 2014 it reached 116.75%, with
394.42 million cards issued by all banks in India. Public sector banks are far ahead of other

E-Banking Services in India: A Broad-Brush Survey of Indian Banks 43

 Table 12: Number of Transactions Through Credit Cards

Public Sector Banks Private Sector Banks

Year FB All Banks
All NB SBIG All Old New
No. 47.82 9.70 38.12 147.47 0.51 146.96 125.13 320.42
of Tr
2011-12 % G – – – – – – – –
%S 14.92 3.03 11.90 46.02 0.16 45.86 39.05 100
No. 64.24 12.26 51.98 192.80 0.61 192.19 142.19 399.23
of Tr
2012-13 % G 34.34 26.39 36.36 30.74 19.61 30.78 13.63 24.6
%S 16.09 3.07 13.02 48.29 0.15 48.14 35.62 100
No. 79.46 14.01 65.45 274.81 1.12 273.69 157.72 511.99
of Tr
2013-14 % G 66.16 44.43 71.69 86.35 119.61 86.23 26.04 59.79
%S 15.52 2.74 12.78 53.67 0.22 53.46 30.81 100

Source: Same as Table 8

Table 13: Number of Debit Cards Issued by Banks

Public Sector Banks Private Sector Banks

Year FB All Banks
All NB SBIG All Old New
No. of 129.69 58.82 70.87 47.85 9.81 38.04 4.43 181.97
Cards
2010 %G – – – – – – – –
%S 71.27 32.32 38.95 26.30 5.39 20.90 2.43 100
No. of 170.34 80.27 90.07 53.58 12.44 41.14 3.92 227.84
Cards
2011 %G 31.34 36.47 27.09 11.97 26.81 8.15 –11.51 25.21
%S 74.76 35.23 39.53 23.52 5.46 18.06 1.72 100
No. of 214.59 102.59 112 59.88 13.87 46.01 3.80 278.27
Cards
2012 %G 65.46 74.41 58.04 25.14 41.39 20.95 –14.22 52.92
%S 77.12 36.87 40.25 21.52 4.98 16.53 1.37 100
No. of 260.56 124.14 136.42 67.29 15.38 51.91 3.34 331.19
Cards
2013 %G 100.91 111.05 92.49 40.63 56.78 36.46 –24.60 82
%S 78.67 37.48 41.19 20.32 4.64 15.67 1.01 100

44 The IUP Journal of Bank Management, Vol. XV, No. 1, 2016

 Table 13 (Cont.)
Public Sector Banks Private Sector Banks
Year FB All Banks
All NB SBIG All Old New
No. of 315.98 161.23 154.75 75.2 18.59 56.61 3.24 394.42
Cards
2014 %G 143.64 174.11 118.36 57.16 89.50 48.82 –26.86 116.75
%S 80.11 40.88 39.23 19.07 4.71 14.35 0.82 100
Source: Same as Table 7

banks with 315.98 million cards issued, which is 80.11% of all cards issued by banks till 2014
with a growth percent of 143.64% compared to 2010. Nationalized banks lead with 40.88%
share, followed by SBI Group banks with 39.23% share. Private sector banks are showing
continuously decreasing percentage of share every year from 2010 to 2014; in spite of that,
they are growing significantly with 57.16% growth in 2014. The performance of foreign banks
is very poor.
Table 14 shows the total number of transactions done by debit cards through ATMs and POS
during the financial years 2011-12 to 2013-14. The total number of transactions done through
debit cards in 2013-14 is 6,707.1 million with 23.99% growth compared to 2011-12. In the year
2013-14, public sector banks performed well with 73.57% share in terms of transactions performed
as they have a large number of debit cards. Among them, SBI Group banks lead with 45.98%
share. In the case of private sector banks, they have only 24.82% share, and among them, the
share of new private sector banks is 20.76%.

Table 14: Number of Transactions Through Debit Cards

Public Sector Banks Private Sector Banks
Year FB All Banks
All NB SBIG All Old New
No. 3,776.45 1,500.76 2,275.69 1,534.32 234.56 1,299.76 98.68 5,409.45
of Tr
2011-12 % G – – – – – – – –
%S 69.81 27.74 42.07 28.36 4.34 24.03 1.82 100
No. 4,166.95 1,581.81 2,585.14 1,506.44 233.34 1,273.1 104.97 5,778.36
of Tr
2012-13 % G 10.34 5.4 13.6 –1.82 –0.52 –2.05 6.37 6.82
%S 72.11 27.37 44.74 26.07 4.04 22.03 1.82 100
No. 4,934.32 1,850.58 3,083.74 1,665 272.67 1,392.33 107.78 6,707.1
of Tr
2013-14 % G 30.66 23.31 35.51 8.52 16.25 7.12 9.22 23.99
%S 73.57 27.59 45.98 24.82 4.07 20.76 1.61 100
Source: Same as Table 8

E-Banking Services in India: A Broad-Brush Survey of Indian Banks 45

Conclusion
On the basis of the analysis, it can be concluded that e-banking is becoming massively popular
in India. In the last four or five years, it has shown great progress. Undoubtedly, Indian banks
are making sincere efforts for the adoption of advanced information technology and installation
of e-delivery channels. Both online/PC banking and other e-banking delivery channels are
gaining popularity in India.

In terms of online/PC banking, the research shows that evidently a large number of Indian
banks are offering their products and services online and they are doing well offering basic and
intermediate services, but at the advanced level, each category of banks is performing very
poorly because we find least number of services at this level, and even the services which are
found at this level are provided by very few banks. For making online banking more fruitful,
banks need to introduce advanced level services because these services open the possibilities for
business transformation and the creation of new business opportunities (Diniz, 1998). The
study also explores banks’ low concern towards providing online customer relationship services.
These services can be improved because banks have already developed technologies for it.
According to banks group-wise analysis, public and private sector banks offered these services
competitively, but the main competition exists between SBI Group and new private sector
banks, and we can say that private sector banks are a little ahead of public sector banks.

The analysis of data with regard to mobile banking, ATM, POS and electronic cards, i.e.,
existence in actual number, growth rate and percentage share, reveals that Indian banks are
performing well and are showing increasing trend in growth and number of transactions through
these electronic channels. This also reflects the increasing popularity of it among customers.
Huge increase in the number of mobile banking users and high growth in terms of transactions
performed show a very good trend and a very positive future for mobile banking in India. The
tremendous growth in the number of ATMs indicates that the customers prefer ATMs as a
channel for banking transactions. In India, the use of POS devices is a growing trend and debit
cards are also showing great growth, but credit cards are still in a very poor state. No doubt
there is huge competition between public and private sector banks and in the face of this
competitive pressure, both the groups of banks are making serious efforts towards e-banking. In
terms of performance, public sector banks lead in ATMs and debit cards and even in mobile
banking as they have high percentage share in terms of transactions performed, while private
sector banks lead in POS and credit cards.

Implications
Based on the findings of the study with regard to the current state, trends and growth of
Internet/e-banking in India, the study suggests that banks should focus on advanced level of
services and customer relationship services in terms of online/PC banking. Public sector banks
need to emphasize more on POS and credit cards, while private sector banks should focus
more on ATM and debit cards. Among these two groups of banks, nationalized banks and old

46 The IUP Journal of Bank Management, Vol. XV, No. 1, 2016

private sector banks need to make serious efforts towards it, because their performance is very
poor compared to SBI Group banks and new private sector banks.H

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E-Banking Services in India: A Broad-Brush Survey of Indian Banks 49

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