Tbsb.pdf

EXECUTIVE SUMMARY

The Project Title “Role of Technology in Thane Bharat Sahakari Bank” was assigned to me by my project guide based on my interest and knowledge to learn about the Technology and work in Financial Services (Banking) Industry. The project included, understand about the Technology provided by the Banks in India and also the Technology of the Thane Bharat Sahakari Bank and analyze their performance based on the feedback from the employees as well as the customers of the bank. The report deals with the clear understanding of the Technology used in the Thane Bharat Sahakari Bank. It only explains the basic concepts of the various technology used by in the banking sector nowadays. The first part of my project involves the basic study of Technology used in Indian Banking Sectors. It also explains the Objectives of the Technology in the Bank, Research Methodology, Scope of the Technology in the Bank, Importance of the Technology in the Bank and Limitation of the Technology in Bank. Further I have continued my project by studying about the software used in the Thane Bharat Sahakari Bank i.e., OMNI Enterprise that gives the Core Banking Solutions to the bank and also a study about the Mobile Banking services provided by the bank. I have also made Data Analysis and Interpretation based on the questionnaires collected from the employees as well as the customers of the bank, based on the data I have made an graphical analysis of the technology used by the bank and what people think of these technology and services provided by the bank. To complete my project, I have done with the errors and findings on the technology of the bank and also made some suggestions to improve the system of the technology used by the bank. Page |1

2.1 Introduction :Technology has brought a complete paradigm shift in the functioning of banks and delivery of banking services. Gone are the days when every banking transactions required a visit to bank branch. Today, most of the transactions can be done from home and customers need not visit the bank branch for anything. Technology is no longer enabler, but a business driver. The growth of Internet, Mobiles and Communication Technology has added different dimension to banking. The Information Technology (IT) available today is being leveraged in customers acquisitions, driving automation and process efficiency, delivering ease and efficiency to customers. The increased penetration and impact on the scale of the business can be judged from metrics such as deposits and credit per account, which according to RBI data was INR 6,412 and INR 20,757 in 1992 and INR 19,898 and INR 84,618 in 2000 --- these metrics increased to INR 59,217 and INR 2,58,751 in 2009, respectively, approximately thrice the levels in 2000 and 10 times the levels in 1992. Many of the IT initiatives of bank started in late 1990’s or early 2000 with an emphasis on the adoption of Core Banking Solutions (CBS), automation of the branches and centralization of operations in CBS. Over the last decade, most of the banks completed the transformation to technology—driven organizations. Moving from manual, self constrained environment to a global presence with automated systems and processes, it is difficult envisage the adverse scenario, the sector was in the era before reforms, when a simple deposit or withdrawal of cash would require a day. ATMs, Mobile Banking and Online bill payments facilities to vendors and utility service providers have almost obviated the need of customers to visit the branch. Branches are also transforming from operating as transaction processing points into relationship management hubs. The change has been very productive for banks bringing in an increase in productivity and operational efficiency to be more competitive. Better risk management due to centralization of information and real time availability of critical data for decision making. Page |2

With most of the banks being technology—enabled, the focus is shifting to computerizing Regional Rural Banks (RRBs). In addition, banks are moving towards decision making and business intelligence software and trying to optimize the IT infrastructure created. With the globalization trends world over it is difficult for any nation big or small, developed or developing, to remain isolated from what is happening around. For a country like India, which is one of the most promising emerging markets, such isolation is nearly impossible. More particularly in the area of Information technology, where India has definitely an edge over its competitors, remaining away or uniformity of the world trends is untenable. Financial sector in general and banking industry in particular is the largest spender and beneficiary from information technology. This endeavours to relate the international trends in it with the Indian banking industry. The last lot includes possibly all foreign banks and newly established Private sector banks, which have fully computerized all the operations. With these variations in the level of information technology in Indian banks, it is useful to take account of the trends in Information technology internationally as also to see the comparative position with Indian banks. The present article starts with the banks perception when they get into IT up gradation. IT has helped the banking industry to deal with the challenges the new economy poses. More than most other industries, financial institutions rely on gathering, processing, analyzing, and providing information in order to meet the needs of customers. Given the importance of information in banking, it is not surprising that banks were among the earliest adopters of automated information processing technology. Technology has opened up new markets, new products, new services and efficient delivery channels for the banking industry. Online electronics banking, mobile banking and internet banking are just a few examples. Information Technology has also provided banking industry with the wherewithal to deal with the challenges the new economy poses. Information technology has been the cornerstone of recent financial sector reforms aimed at increasing the speed and reliability of financial operations and of initiatives to strengthen the banking sector. The IT revolution has set the stage for unprecedented Page |3

increase in financial activity across the globe. The progress of technology and the development of worldwide networks have significantly reduced the cost of global funds transfer. It is information technology which enables banks in meeting such high expectations of the customers who are more demanding and are also more techno-savvy compared to their counterparts of the yesteryears. They demand instant, anytime and anywhere banking facilities. IT has been providing solutions to banks to take care of their accounting and back office requirements. Many banks have modernized their services with the facilities of computer and electronic equipments. The electronics revolution has made it possible to provide ease and flexibility in banking operations to the benefit of the customer. The e-banking has made the customer say good-bye to huge account registers and large paper hank accounts. The e-banks, which may ‘ call as easy bank offers the following services to its customers like Credit Cards/Debit Cards, ATM, ECheques, EFT (Electronic Funds Transfer), DEMAT Accounts, Mobile Banking, Telephone Banking, Internet Banking, EDI (Electronic Data Interchange).The banking system is slowly shifting from the traditional banking towards relationship banking. Traditionally the relationship between the bank and its customers has been on a one-to-one level via the branch network. This was put into operation with clearing and decision making responsibilities concentrated at the individual branch level. The head office had responsibility for the overall clearing network, the size of the branch network and the training of staff in the branch network. The bank monitored the organization’s performance and set the decision making parameters, but the information available to both branch staff and their customers was limited to one geographical location. And it is now changing the way how banks are delivering services to their customers. However this technology comes at a cost, implementing all this technology has been expensive but the rewards are limitless.

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2.2 Objectives of the Study :The Banking System of India should not only be hassle free but it should be able to meet new challenges posed by the technology and any other external and internal factors. The information system is paramount concern to the banks in today’s business environment. The business of cooperative bank has increased phenomenally in recent years due to sharp increase in urban cooperative banks. This exponential growth of Cooperative Banks of India is attributed mainly to their much better local reach, personal interaction with customers, and their ability to catch the nerve of local clientele. A software development methodology refers to the framework that is used to structure, plan and control the process of developing an information system. Each of the available methodologies and techniques are best suited to specific kinds of projects, based on various technical, organizational and available resources. With reference to above relevant information the main objective is to study induction of IT tools in urban cooperative banks in light with software engineering concept. With the help of this initial information of the following are some of the objective of the study :

To assess the role of Information Technology in Public Sector Banks, Private Sector Banks and Foreign Banks.



To assess the perception of the Bank Employees towards the Implementation of Information Technology in the Banks.



To assess the Perception and Satisfaction of the Customers with the Bank.

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2.3 Research Methodology :Research Methodology decides the territory of proposed study and gives information to the readers about adopted process of analysis for the respective study. This includes aims for which the study is undertaken. This also clarify time, scope, data sources etc. of proposed study. Another significant aspect is tools and techniques which are used for the study. In brief this chapter helps to the researcher to decide his path of research work.

2.3.1 Research Type :There are many research types when it comes to researching something and making a research paper out of it. There are two major research types that helps us to make the research more simplistic and more sophisticated and it becomes easy for us to arrive at the conclusion. The research types are as follows :(A) Qualitative Research :A study based upon a qualitative process of inquiry has the goal of understanding a social or human problem from multiple perspectives. Qualitative research is conducted in a natural setting and involves a process of building a complex and holistic picture of the phenomenon of interest. We will explore some of the issues and challenges associated with qualitative research in this section. (B) Quantitative Research :Quantitative research is inquiry into an identified problem, based on testing a theory, measured with numbers, and analyzed using statistical techniques. The goal of quantitative methods is to determine whether the predictive generalizations of a theory hold true. We will explore some of the issues and challenges associated with quantitative research in this section. Seek the advice of faculty members who have conducted quantitative studies for advice, support and encouragement.

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2.3.2 Data Collection :Data collection is the process of gathering and measuring information on targeted variables in an established systematic fashion, which then enables one to answer relevant questions and evaluate outcomes. Data collection is a component of research in all fields of study including physical and social sciences, humanities, and business. While methods vary by discipline, the emphasis on ensuring accurate and honest collection remains the same. The goal for all data collection is to capture quality evidence that allows analysis to lead to the formulation of convincing and credible answers to the questions that have been posed. (A) Primary Data :-

Primary data is information that you collect specifically for the purpose of your research project. An advantage of primary data is that it is specifically tailored to your research needs. A disadvantage is that it is expensive to obtain. Primary data was collected by filling questionnaires from respondents through a one to one survey method. The respondents were from different age groups above 18 years and who are earning.

(B) Secondary Data :-

Secondary data refers to data that was collected by someone other than the user. Common sources of secondary data for social science include censuses, information collected by government departments, organizational records and data that was originally collected for other research purposes. Primary Data, by contrast, are collected by the investigator conducting the research. Secondary data analysis can save time that would otherwise be spent collecting data and, particularly in the case of quantitative data, can provide larger and higherquality databases that would be unfeasible for any individual researcher to Page |7

collect on their own. In addition, analysts of social and economic change consider secondary data essential, since it is impossible to conduct a new survey that can adequately capture past change and/or developments. However, secondary data analysis can be less useful in marketing research, as data may be outdated or inaccurate. For this project the secondary data was collected regarding various sources and also with the collaboration of the Bank Employees of Thane Bharat Sahakari Bank in Ghatkopar (East). Population :The population includes the individuals that use the technology on the daily basis that is the employees working in the bank and also the customers using the technology in day to day life. Sample Size :Sample size determination is the act of choosing the number of observations or replicates to include in a statistical sample. The sample size is an important feature of any empirical study in which the goal is to make inferences about a population from a sample. In practice, the sample size used in a study is determined based on the expense of data collection, and the need to have sufficient statistical power. In complicated studies there may be several different sample sizes involved in the study: for example, in a stratified survey there would be different sample sizes for each stratum. In a census, data are collected on the entire population, hence the sample size is equal to the population size. In experimental design, where a study may be divided into different treatment groups, this may be different sample sizes for each group. The sample size for this research project is 20, this also includes the employees and the customers of Thane Bharat Sahakari Bank.

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2.3.3 Sampling Techniques :Sampling is concerned with the selection of a subset of individuals from within a statistical population to estimate characteristics of the whole population. Two advantages of sampling are that the cost is lower and data collection is faster than measuring the entire population. In this research project the sampling technique that is used is Stratified Sampling. (A) Stratified Sampling :Stratified Sampling is possible when it makes sense to partition the population into groups based on a factor that may influence the variable that is being measured. These groups are then called strata. An individual group is called a stratum. With stratified sampling one should: 

partition the population into groups (strata)



obtain a simple random sample from each group (stratum)



collect data on each sampling unit that was randomly sampled from each group (stratum)

Stratified sampling works best when a heterogeneous population is split into fairly homogeneous groups. Under these conditions, stratification generally produces more precise estimates of the population per cents than estimates that would be found from a simple random sample. The following table will show the stratified sample of this research project :-

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Stratified Samples All the employees and customers of Thane Bharat Sahakari Bank in

Population

Ghatkopar Branch The groups are divided in 2 parts i.e., 1. Employees

Groups

2. Customers Obtain a Simple Random Sample

10 people from each of the groups

Sample

10*2 = 20 selected people Table No. 1

2.4 Scope of the Study :In the present scenario major economical and technical changes are undergoing in industrial and financial revolution through the new information-processing technology. Especially in Finance sector it has a significant role for overall development. After identifying the subject (research area) and referring the relevant literatures, it has been found that in most of the literature, the information technologies have a wide application area. However, in Finance sector major changes have been made. Due to these drastic changes we have chosen to do the study on role of technology in banking system. After completing step by step procedure for automation process, now it is required to take the review of the system. People used information technological tools to manage and process the information. Automation process use in the financial sector for transaction system. This type of working methodology is used in the financial Institute since long years. The Urban Co-operative bank sector is mostly related to all classes of people like businessmen, industry, agriculture, labor, small entrepreneurs, workers etc. It has been changing complete culture and working methodology. Therefore, it has a wide scope to study the existing modern transaction system in the financial sector mainly in urban cooperative bank system. For that purpose we are going to utilize software engineering model based techniques for theoretical evaluation of automation process. P a g e | 10

In the literature survey it has been found that the software engineering technology has monopoly for the development of software product and it is observed that such technology is not used for study purpose in any other different field. This helps to create a better software for the banking sector using the help of various experienced individuals in banking sector. There is a slow growth in banking sector as they have been imposing online payment systems by using the apps they create and encourage the customers to perform the transactions online after demonetization. There are various facilities provided by the banks such as opening of bank account through online procedure and submitting the documents online by uploading them in their database through the use of the apps. Even the Debit cards and Credits cards are provided online for making the transaction simple. The Banks are slowly moving towards the technological area and they are using many marketing policies to execute the process to gain the customers trust so that they can provide better services to them. The banks are assuring the customers by showing all the securities provided by the bank while performing the online transaction. The Scope of the Technology in banking sector is growing rapidly and it is becoming more and more reliable and simple to customers as it does not consume the time as it did before and the Banks provide better performance depending on the Hardware and Software they use for making the optimum use of their utilities. 2.5 Importance of the Study :Banking environment has become highly competitive today. To be able to survive and grow in the changing market environment banks are going for the latest technologies, which is being perceived as an ‘enabling resource’ that can help in developing learner and more flexible structure that can respond quickly to the dynamics of a fast changing market scenario. It is also viewed as an instrument of cost reduction and effective communication with people and institutions associated with the banking business. The Software Packages for Banking Applications in India had their beginnings in the middle of 80s, when the Banks started computerizing the branches in a limited manner. The early P a g e | 11

90s saw the plummeting hardware prices and advent of cheap and inexpensive but high powered PC’s and Services and banks went in for what was called Total Branch Automation (TBA) packages. The middle and late 90s witnessed the tornado of financial reforms, deregulation globalization etc. coupled with rapid revolution in communication technologies and evolution of novel concept of convergence of communication technologies, like internet, mobile/cell phones etc. Technology has continuously played on important role in the working of banking institutions and the services provided by them. Safekeeping of public money, transfer of money, issuing drafts, exploring investment opportunities and lending drafts, exploring investment being provided. Information Technology enables sophisticated product development, better market infrastructure, implementation of reliable techniques for control of risks and helps the financial intermediaries to reach geographically distant and diversified markets. Internet has significantly influenced delivery channels of the banks. Internet has emerged as an important medium for delivery of banking products and services. The customers can view the accounts; get account statements, transfer funds and purchase drafts by just punching on few keys. The smart card’s i.e., cards with micro processor chip have added new dimension to the scenario. An introduction of ‘Cyber Cash’ the exchange of cash takes place entirely through ‘Cyber-books’. Collection of Electricity bills and telephone bills has become easy. The upgradeability and flexibility of internet technology after unprecedented opportunities for the banks to reach out to its customers. No doubt banking services have undergone drastic changes and so also the expectation of customers from the banks has increased greater. IT is increasingly moving from a back office function to a prime assistant in increasing the value of a bank over time. IT does so by maximizing banks of pro-active measures such as strengthening and standardizing banks infrastructure in respect of security, communication and networking, achieving inter branch connectivity, moving towards Real Time gross settlement (RTGS) environment the forecasting of liquidity by building real time databases, use of P a g e | 12

Magnetic Ink Character Recognition and Imaging technology for cheque clearing to name a few. Indian banks are going for the retail banking in a big way. The key driver to charge has largely been the increasing sophistication in technology and the growing popularity of the Internet. The shift from traditional banking to e-banking is changing customer’s expectations. E-Banking :E-banking made its debut in UK and USA 1920s. It becomes prominently popular during 1960, through electronic funds transfer and credit cards. The concept of web-based baking came into existence in Europe and USA in the beginning of 1980. In India e-banking is of recent origin. The traditional model for growth has been through branch banking. Only in the early 1990s has there been a start in the non-branch banking services. The new private sector banks and the foreign banks are handicapped by the lack of a strong branch network in comparison with the public sector banks. In the absence of such networks, the market place has been the emergence of a lot of innovative services by these players through direct distribution strategies of non-branch delivery. All these banks are using home banking as a key “pull’ factor to remove customers away from the well entered public sector banks. Many banks have modernized their services with the facilities of computer and electronic equipment. The electronics revolution has made it possible to provide ease and flexibility in banking operations to the benefit of the customer. The e-banking has made the customer say good-bye to huge account registers and large paper bank accounts. The e-banks, which may call as easy bank offers the following services to its customers: 

Credit Cards/Debit Cards



ATM



E-Cheques P a g e | 13



EFT (Electronic Funds Transfer)



DeMAT Accounts



Mobile Banking



Telephone Banking



Internet Banking



EDI (Electronic Data Interchange) Benefits of E-banking :To the Customer :-



Anywhere Banking no matter wherever the customer is in the world. Balance enquiry, request for services, issuing instructions etc., from anywhere in the world is possible.

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Anytime Banking – Managing funds in real time and most importantly, 24 hours a day, 7days a week.

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Convenience acts as a tremendous psychological benefit all the time.

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Brings down “Cost of Banking” to the customer over a period a period of time.

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Cash withdrawal from any branch / ATM



On-line purchase of goods and services including online payment for the same. To the Bank :-



Innovative, scheme, addresses competition and present the bank as technology driven in the banking sector market

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Reduces customer visits to the branch and thereby human intervention

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Inter-branch reconciliation is immediate thereby reducing chances of fraud and misappropriation

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On-line banking is an effective medium of promotion of various schemes of the bank, a marketing tool indeed.

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Integrated customer data paves way for individualized and customized services. P a g e | 14

Impact of IT on the Service Quality :The most visible impact of technology is reflected in the way the banks respond strategically for making its effective use for efficient service delivery. This impact on service quality can be summed up as below: 

With automation, service no longer remains a marketing edge with the large banks only. Small and relatively new banks with limited network of branches become better placed to compete with the established banks, by integrating IT in their operations.



The technology has commoditizing some of the financial services. Therefore the banks cannot take a lifetime relationship with the customers as granted and they have to work continuously to foster this relationship and retain customer loyalty.

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The technology on one hand serves as a powerful tool for customer servicing, on the other hand, it itself results in depersonalizing of the banking services. This has an adverse effect on relationship banking. A decade of computerization can probably never substitute a simple or a warm handshake.



In order to reduce service delivery cost, banks need to automate routine customer inquiries through self-service channels. To do this they need to invest in call centers, kiosks, ATM’s and Internet Banking today require IT infrastructure integrated with their business strategy to be customer centric. Impact of IT on Banking System :The banking system is slowly shifting from the Traditional Banking towards relationship banking. Traditionally the relationship between the bank and its customers has been on a one-toone level via the branch network. This was put into operation with clearing and decision making responsibilities concentrated at the individual branch level. The head office had responsibility for the overall clearing network, the size of the branch network and the training of staff in the branch network. The bank monitored the organization’s performance and set the decision making

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parameters, but the information available to both branch staff and their customers was limited to one geographical location. Traditional Banking Sector :-

Figure No. 1 The modern bank cannot rely on its branch network alone. Customers are now demanding new, more convenient, delivery systems, and services such as Internet banking have a dual role to the customer. They provide traditional banking services, but additionally offer much greater access to information on their account status and on the bank’s many other services. To do this banks have to create account information layers, which can be accessed both by the bank staff as well as by the customers themselves. The use of interactive electronic links via the Internet could go a ling way in providing the customers with greater level of information about both their own financial situation and about the services offered by the bank.

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The New Relationship Oriented Bank :-

Figure No. 2

Impact of IT on Privacy and Confidentiality of Data :Data being stored in the computers, is now being displayed when required on through internet banking mobile banking, ATM’s etc. all this has given rise to the issues of privacy and confidentially of data are: 

The data processing capabilities of the computer, particularly the rapid throughput, integration, and retrieval capabilities, give rise to doubts in the minds of individuals as to whether the privacy of the individuals is being eroded.



So long as the individual data items are available only to those directly concerned, everything seems to be in proper place, but the incidence of data being cross referenced to create detailed individual dossiers gives rise to privacy problems.

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Customers feel threatened about the inadequacy of privacy being maintained by the banks with regard to their transactions and link at computerized systems with suspicion. Aside from any constitutional aspect, many nations deem privacy to be a subject of human right and consider it to be the responsibility of those who concerned with computer data processing for ensuring that the computer use does not revolve to the stage where different data P a g e | 17

about people can be collected, integrated and retrieved quickly. Another important responsibility is to ensure the data is used only for the purpose intended. 2.6 Limitation of the Study :Every technology has its advantages and disadvantages, and advances in banking are no different. Accessing your money through an automatic teller machine (ATM) anytime you like is convenient. On the other hand, that freedom can allow easier access to your money for someone who has stolen your ATM card. These changes are here to stay, so you'll want to understand the benefits and drawbacks of banking technology to figure out how best to deal with them. Online Banking :Online banking empowers you to pay bills and transfer money without leaving your living room. Unfortunately, it also allows new ways for criminals to seize control of your bank accounts and other information associated with them. If a criminal finds out your online banking log-in information, for example, he can make money transfers and can probably find other numbers you don't want him to have. If this happens, the Federal Trade Commission provides guidance as to how you should deal with this kind of theft. Fast Credit :Advanced banking technology allows you to arrange for credit faster than in the past. Decades ago, obtaining credit was purely a paper-based process. Today consumers can acquire credit lines instantly. While many people enjoy the convenience of getting a car loan or store credit card within minutes, the temptation can lead them to borrow money they can't afford. RFID Payment :-

Thanks to Radio-Frequency Identification (RFID) technology, you can pay for goods or services by simply waving your debit or credit card in front of a reader. The RFID chip inside the card broadcasts bank information wherever you go, which can be quite convenient; for example, instead of having to go into the gas station to pay, you can simply make sure your wallet is close P a g e | 18

enough to the reader. Scammers can get that information if they have their own scanner. Website Interruption :Many consumers become reliant upon technology to pay bills or conduct other kinds of banking transactions. Ideally, this is a beneficial arrangement. For example, if you forget a credit card payment, you don't need to worry about whether your paper check will get to your credit card company in time. You simply log on and make your payment. If the bank's website suffers an interruption, however, you may be unable to send payments to creditors, incurring late fees or other consequences. Unfortunately, websites experience downtime on occasion. Server Problem :The Server problems can be caused due to lack of weekly maintenance of the software used by the banks. Typically, when we say a server is down, what we mean is that the program that is designed to respond to requests from the network is not doing so. There are a number of reasons that could happen, and each of them call for a different solution. This can slow down the work of the bank that is required to do on time. It cannot be resolved unless the software is maintained properly without any issues.

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3.1 Introduction :The Thane Bharat Sahakari Bank Ltd., established in 1979, is one of the leading Cooperative Banks in Thane district. Since the date of inception, the Bank has grown by leaps & bounds with 24 branches, spread over Mumbai, Thane, Raigad and Pune districts. (as on 31.03.2016) At the time of inception of the Bank, i.e. in late 1970s, there were only 2 Co-operative Banks in Thane city. Thane city, being centrally situated in the growing industrial belt on one hand, and being equidistant to western side on Ghodbunder Road to Karjat, Kasara and also Mumbai on the other, was developing vertically and horizontally as well, which resulted into growth in the population belonging to all strata of the society. Naturally, a need for another Bank was evident. Two enthusiastic persons, viz. Dr.V.N.Bedekar and Mr.M.Y.Gokhale, along with many such likeminded senior social workers, came up with an idea of having one more Co-operative Bank for Thane city and district. After completing preliminary formalities, the Bank was registered with District Cooperative Registrar on 25th September 1978. Subsequently, the first General Body Meeting of the Bank was held on 28th October 1978 and in that Meeting, a Team of first Board of Directors was elected. Dr.V.N.Bedekar was elected as the Chairman and Mr.M.Y.Gokhale as Vice Chairman. The relative Reserve Bank of India (RBI) Licence for opening the Bank was obtained on 19th April 1979 and on the auspicious day of ‘Akshaya Tritiya’, on 29th April 1979, the Bank was inaugurated at the hands of noted Economist of that era, Dr.V.M.Dandekar. The Bank started functioning at spacious premises at ‘Shatataraka’, with its Administrative Office and the first Branch viz. Main Branch. The Bank was awarded status of ‘Scheduled Bank’ on 8th March 2003.

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It will be interesting to know that, initially the Bank was named as the “Bharat Sahakari Bank” Ltd., Thane. Subsequently, the name was changed to the “Thane Bharat Sahakari Bank” Ltd. to avoid confusion in the minds of the people, as two other banks, styled as “Bharat Co-operative Bank” and Bharat Sahakari Bank” were also functioning at the time. Thus, the transformation in the name from “Bharat Sahakari Bank Ltd”. Thane to “Thane Bharat Sahakari Bank Ltd”, took place. In the year 2003-04, the Bank celebrated Silver Jubilee Year. A Souvenir was published in the Silver Jubilee year, highlighting various milestones achieved by the Bank during its journey of 25 years. The Bank participates in many social events in Thane city, like “Nav Varsha Shobha Yatra” (Nandi songs of which were famous / popular ) on the eve of Gudhi Padwa and also contributes to many social events through donations, ads and, even on few occasions it sponsors some social programmes. The Bank is well equipped in the area of mechanization / computerization of its services through 24 ATMs, Mobile Banking, RTGS, NEFT etc. etc. 3.2 Board of Directors :-

Madhav Yeshwant Gokhale

Uttam Bhaskar Joshi

Chairman

Vice Chairman

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Dr. Ravindra R Randive

Chandrashekhar P Paranjape

Director

Director

Milind Madhav Gokhale

Hemant waman Mahajan

Director

Director

Dr. Rajeshwar M Moghekar

Kiran V Vaidya

Director

Director

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Mrs. Manish M Natu

Sanjay Gopinath Patil

Director

Director

Sitaram A Gosavi

Dr. Lalita S Deodhar

Director

Director

Suhas L Karandikar

Shekhar A Desai

Advisor To Board

Chief Executive Officer

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3.3 Services :

ATM



PHONE BANKING



MOBILE BANKING

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

LOANS



CREDIT/DEBIT CARDS



NEFT/RTGS/IMPS

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

FRANKING



LOCKER FACILITY



GENERAL INSURANCE



E-STATEMENTS

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3.4 Deposits :(A) Saving Deposits :A savings account is an interest-bearing deposit account held at a bank or another financial institution that provides a modest interest rate. Banks or financial institutions may limit the number of withdrawals you can make from your savings account each month, and they may charge fees unless you maintain a certain average monthly balance in the account.RS-35000 per day withdrawal allowed through ATM. minimum balance is more than ₹ 1000.interest rate on saving deposit is 4%. (B) Current Deposits :Current a/c can be opened by a businessmen who have higher no. of regular transactions with the banks. It also known as demand deposit account in current a/c amount can be deposited and withdrawn at any time without giving any notice. current Account can be opened with minimum ₹. 1,000. ₹ 25000 per day withdrawal. RS 10000 withdrawn in a day from the account with NFS network. (C) Fixed Deposits :A Fixed Deposit (FD) is a financial instrument provided by banks which provides investors with a higher rate of interest than a regular savings account, until the given maturity date. It may or may not require the creation of a separate account. penalty for premature withdrawal will be 1.00% P.A. these accounts can be opened with an investment of ₹. 1,000/-.

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Interest Rates on Deposits (w.e.f. 20/02/2017) Period Of Deposit

For General Public

Sr. Citizen, Staff & ExStaff Members

Registered CHS

15 Days to 90 Days

4.75

4.75

4.75

91 Days to 180 Days

5.75

5.75

5.75

181 Days to Less than 12 Months

6.50

6.50

6.50

12 Months to 60 Months

6.75

6.75

6.75

666 Days

7.00

7.50

7.00

Above 60 Months to 120 Months

6.50

6.50

6.50

6.75

6.75

6.75

Tax Benefit Schemes (60 Months)

Table No. 2 (D) Recurring Deposits :-

Recurring Deposit is a special kind of Term Deposit offered by banks in India which help people with regular incomes to deposit a fixed amount every month into their Recurring Deposit account and earn interest at the rate applicable to Fixed Deposits. it is similar to making FDs of a certain amount in monthly installments. this deposit matures on a specific date in the future along with all the deposits made every month. thus, Recurring Deposit schemes allow customers with an opportunity to build up their savings through regular monthly deposits of fixed sum over a fixed period of time. minimum Period of RD is 6 months and maximum is 10 years. premature withdrawal allowed, penal interest is applicable. (E) Kishore Bachat Yojna :

Open New General Ledger A/c of "Kishor Bachat Thev Yojana" (K.B.T.Y.)

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

Minimum Balance of ₹. 500.00



Rate of Interest 4%



Cheque Book Facility



No Bank Service Charges such as Minimum Balance, Folio,Cheque Book, etc.



No Debit Balance in this Account



SMS Alert Facility to Parents



Repays ATM card in the Name of A/c holder with applicable charges



Account holder age limit above 10 to below 18 year’s, Conversion of act as "Major" on attain age of 18th year



Account holder can make his/her Transactions individually



Any type of loan cannot be given on this account

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3.5 Loans :-

T Y P E S

O F

L O A N S Figure No. 3

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(A) Student Loans :Student loans are offered to college students and their families to help cover the cost of higher education. There are two main types: federal student loans and private student loans. Federally funded loans are better, as they typically come with lower interest rates and more borrower-friendly repayment terms. (B) Mortgages :Mortgages are loans distributed by banks to allow consumers to buy homes they can’t pay for upfront. A mortgage is tied to your home, meaning you risk foreclosure if you fall behind on payments. Mortgages have among the lowest interest rates of all loans. (C) Vehicle Loans :Like mortgages, auto loans are tied to your property. They can help you afford a vehicle, but you risk losing the car if you miss payments. This type of loan may be distributed by a bank or by the car dealership directly but you should understand that while loans from the dealership may be more convenient, they often carry higher interest rates and ultimately cost more overall. (D) Personal Loans :Personal loans can be used for any personal expenses and don’t have a designated purpose. This makes them an attractive option for people with outstanding debts, such as credit card debt, who want to reduce their interest rates by transferring balances. Like other loans, personal loan terms depend on your credit history.

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(E) Gold Loans :This was one of the easiest and fastest way of loan when gold rate was at it’s peak. But currently lot of lenders may not feel it better collateral due to falling in gold price, especially gold loan companies. Recently RBI banned any gold loans against gold ETFs and gold mutual funds. Even though it forms easiest and fastest way of getting loan but better to look for risks involved in it, especially when you are dealing with NBFCs. (F) Home Loans :Home loan as name suggest is the loan against buying property. Every individual currently have dreams to have their own home. To make affordable best option is home loan. There are sub-categories of home loans which are as below :

Home loan for residents



Loans for repairs and extension



Land purchase loan

(G) LRD :LRD scheme is to raise funds for your business needs/investment against the future rent receivables of your self-owned property Purpose – For Working capital, repayment of debt, repayment of unsecured loan, acquiring fixed asset for business etc.

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Maximum loan amount – ₹. 10.00 crores. Maximum eligible loan amount will be equivalent to expected rent receivable as per Lease agreement (Net off TDS & Tax etc.). Period of loan – Tenure will be equivalent to unexpired period of Lease as per agreement subject to maximum period of 10 years. Security – Mortgage of rented property with tri partite agreement between bank, borrower & lessee, remitting rent to bank and all powers to bank to recover rent. Guarantors – Personal guarantee of the business entrepreneur and two guarantors with adequate Net worth and income commiserating with loan amount. (H) Cash Credit :A cash credit is a short-term cash loan to a company. banks offer cash credit accounts to businesses to finance their "working capital" requirements (requirements to buy raw materials or "current assets", as opposed to machinery or buildings, which would be called "fixed assets"). The cash credit account is similar to current accounts as it is a running account (i.e., payable on demand) with cheque book facility. But unlike ordinary current accounts, which are supposed to be overdrawn only occasionally, the cash credit account is supposed to be overdrawn almost continuously.

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Interest Rates – Loans and Advances w.e.f : 12 July 2017 Sr. No.

Product / Scheme

1

Housing Loan

2

Education Loan

3

Vehicle Loan

4

Personal Loan

5

Cash Credit

6

Term Loans

7

Term Loan/SOD against NSCs / KVPs / LI Policies etc

Remark Upto ₹.25.00 lacs Above ₹.25.00 lacs upto ₹.70.00 lacs Maximum upto ₹. 20.00 lacs Personal Use New Vehicle (Upto 36 months ) Personal Use New Vehicle (Above 36 months) Pre-owned cars With Section 49 Without Section 49 Business Loans Business Loans or Commercial Vehicles Loan upto ₹. 2.00 lacs Loan above ₹ 2.00 lacs Maximum upto ₹. 25.00 lacs For House Repairs upto ₹.2.00 lacs Other

Rate of Interest p.a. 8.25% 8.50% 11.00% 8.50% 8.50% 12.50% 13.00% 14.00% 10.50% to 14.50% 10.50% to 14.50% 11.00% 11.00%

8

Gold Loan

9

Motgage Loans

10

Loans Under Lease Rent Discounting (LRD)

11% 12.25% 12.25% 09.50% to 10.50%

11

Loans to Builders and Developers

13.50% to 16.50%

Group Personal loan* Overdraft (Unsecured) / Cheque Purchase and any type of clean facility maximum upto ₹. 5.00 Lacs

12.00%

12

13

14.50%

Table No. 3

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3.6 Objectives of Bank :

Determining in a rational, informed, and strategic manner the desired customer base .



Identifying the current and future needs of desired customer and customer prospect segments.



Creating need-satisfying benefits that respond appropriately and profitably to customer needs and which positively differentiate the organization from its competitors.



Communicating and delivering these benefits effectively and efficiently to the market place.



To generate more leads and create more awareness about the bank.



Expansion of bank



Converting the employees of the organization into a well-informed, disciplined, and professional force committed to the organization's values and objectives.

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4.1 Introduction :Most of the co-operative banks use banking software for their day to day transactions. The Banking Software they use is provided by InfrasoftTech as OMNI Enterprise. InfrasoftTech has over two decades of experience in transforming businesses of financial enterprises they serve. Their customer banks and financial services organizations have benefited by adopting OMNIEnterpriseTM, by way of one or more key performance areas including modernization, rapid business expansion, implementing multi-channel services, enhanced productivity, improved compliance & governance and above all quantum leap in profitability. OMNIEnterprise™ is an integrated solution that helps banks to automate majority of their processes on a common technology backbone. InfrasoftTech specialize in creating a unified customer view of the entire portfolio of a client across the bank with their customer centric architecture as against a traditional product centric architecture. OMNIEnterpriseTM provides a wide-ranging and one of the most comprehensive functional coverage in the industry spread over Retail Banking, Trade Finance, Wealth Management, Microfinance, Investments and Central Office Operations. Core Banking Solutions :A core banking implementation is a major decision point for a bank since it impacts the entire bank and its business. Project success directly impacts profitability, customer satisfaction and competitiveness. InfrasoftTech

Core Banking Solution effectively supports the

entire business operations of a bank – from the front office through operational workflow, the back-office and accounting. As such diverse stakeholders interact and benefit from the solution – Tellers, Branch Officers, Loan Officers, Clerks, Managers, Business Heads, Back-office operators, Auditors and CXO team of a bank.

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Figure No. 4 The bank is able to offer variety of financial products such as savings, deposits, term loans, working

finance,

project

finance,

bill

discounting,

LCs,

BGs,

etc.

Availability of the solution on multiple service channels such as branch, ATM, Internet, Mobile, and Agent network will help your bank achieve increased market reach and add to customer convenience. The solution’s in-built workflow management and fund management features help to reduce processing time, optimize work allocation, mitigate risks and employ the funds efficiently. An integrated GL & Accounting module updates and maintains balances allowing the bank to monitor its financial metrics in real time. The reporting engine comes with pre-packaged MIS and Regulatory reports and lends great flexibility to the bank to design & publish its own reports. The analytics engine provides greater control & capability to a bank to identify trends, evaluate performance for products, people and business units, to identify risk triggers and to carry out predictive analysis.

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Figure No. 5 CORE BANKING SOLUTION ON THE CLOUD InfrasoftTech launched our CBS – OMNIEnterpriseTM Core Banking Solution, on hosted platform in 2011-12. InfrasoftTech has partnered with datacenter service providers and formulated a packaged offering that comprises of the CBS Software, Infrastructure and Connectivity. It has received across-the-board acceptance in the Indian co-operative banking segment.

InfrasoftTech has partnered with data center service providers and telecom service providers and has formulated a packaged offering that comprises of the CBS Software, required infrastructure and supporting connectivity – thus taking away the entire pain any bank must go through to ensure flawless functioning of its most important enterprise system.

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WHY

CORE BANKING SOLUTION?

1. Offering a faster go to market based on functional fitment out-of-the-box as well as evolved implementation methodology that markedly optimizes the project cycle. 2. Common Integrated Platform for various supporting & satellite solutions – ATM & EFT Switch, Loan Origination, Loan Recovery, Lead Management, Budgeting & Forecasting, Fixed Asset management, Wealth Management. 3. Ability to scale-up and scale-out with Bank’s growth in terms of volumes as well as product & service portfolio. 4. Lowest TCO or Per Transaction cost.

Core Banking for Co-operative Sector :By virtue of combined experience of two decades in India and overseas markets especially - Africa and South East Asia, working with cooperative, rural, regional, micro or thrift banks, InfrasoftTech have perfected delivery model that factors in typical challenges of implementation in these segments ranging from IT literacy, legacy data issues, connectivity issues.

Rural banks in India were established with a view to provide sufficient banking and credit facility for agriculture and other rural sectors and to include rural areas into economic mainstream given that a sizeable chunk of Indian population was of rural orientation.

InfrasoftTech enjoy a large market share in co-operative banking segment in India having worked with Urban Cooperative Bank, State Co-operative Banks, District Co-operatives Banks and Credit Co-operative Societies.

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InfrasoftTech

Core Banking Solution thus addresses very unique

requirements such as members owned entity & management, small & micro businesses focusing on regional competencies, large customer base engaged agriculture & related activities, remote location with no or unstable connectivity. Given presence in similar rural and micro banking focused regions, the solution is capable of providing a modern, scalable technology platform.

InfrasoftTech Core Banking framework developed for this class of banks easily integrates unique requirements such as shared ownership, interest subvention, micro-savings products, and finance products that suite agricultural, farming, small-scale, handicraft & artisan businesses.

Figure No. 6 Core Banking Solution for State Co-operative banks, District Central Co-operative Banks and Primary Agricultural Credit Societies

In the co-operative banking hierarchy in India, the finance flows from a State Co-operative to District Central Co-operatives (DCCB), which form the prime credit facilitator at a district level

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and Primary Agricultural Credit Societies (PACS) form the end-point to which credit needs to be delivered. OMNIEnterpriseTM Core Banking Solution for this segment carries some unique features to enable the banks to provide differentiated finance tools to support the agricultural economy, track the credit flow and measure & report outcomes. OMNIEnterpriseTM Core Banking Solution for State Co-operative Banks and District Cooperative Banks

It is a proven solution with successful implementations pan-India. The solution allows the banks to offer retail as well as business oriented products & services and more importantly, provide a backbone for the financial inclusion objectives. It is developed on modern technologies and architecture that is suitable for this segment that operates largely in remote, rural areas.

The solution addresses the pain points of this segment by removing customer duplication, providing customer insights, maintaining data integrity, processing real-time updates.

4.2 OMNI used in Thane Bharat Sahakari Bank :Omni was used in Thane Bharat Sahakari Bank for day to day transactions. There are two steps to authorize a transaction first of all the bank employee should execute the transaction made by the customer and the Bank Supervisor will verify the following transaction. This is how the transaction is completed, the transaction will not be completed unless and until the transaction has been authorized. The Omni has various codes for various accounts in the bank to determine the different types of the account in the bank as shown in the following :   

1150 – Saving Account 1100 – Current Account 2423 – Cash Credit Account 2429 – Loan Account P a g e | 41

  

2410 – Security Overdraft Deposits 2411 - Security Overdraft Deposits – Others 1225 – Fixed Deposits Accounts

The Omni makes every transaction possible in the bank following are the tasks that the banks are able to complete with the help of Omni :              

Outward Clearing of Cheques Transfer Cheques/ Money Deposits in the Accounts Printing of the Passbook Printing of the Statements Printing of FD Receipts Printing of Pay Order & Demand Drafts RTGS/NEFT E-Payments Updating Information of the Customers Issuing New Cheque Book Creating New Accounts Transferring Money from One Branch to Another Branch Withdrawal of the Money from the Customers Account Authorization of the Transactions

4.3 New Hardware System installed in Thane Bharat Sahakari Bank Thane Bharat Sahakari Bank (TBSB) has selected a Smarter Computing solution built on IBM PureSystems over its existing environment to create an intelligent infrastructure designed to help the bank manage growth, introduce new client services and boost its profitability.

It is the first bank in India to adopt IBM PureSystems. In making its decision, the bank was looking to increase the flexibility and capabilities of its core systems and to become more client oriented and responsive to changing market demands. With a network of more than 20 branches in Maharashtra and plans to expand in other states, the bank needed to refresh its hardware infrastructure to ensure better support for its core banking system.

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PureSystems provides the answer to these challenges by automating systems management expertise with open, scalable systems that help increase utilization and reduce the total number of servers required in the datacenter. By eliminating lower utilization servers – PureSystems allows the bank to consolidate its IT operations even as it grows its business model. Increased utilization equates to a smaller real-estate requirement, lower energy costs and lower systems management costs. As a result, PureSystems can help to free up the bank’s valuable human resources from mundane, error prone, and expensive IT operational tasks, allowing them to rededicate these resources to critical customer service operations. “IBM PureSystems is the ideal choice because it helps us in three main areas,” said Shriram Date, CEO, Thane Bharat Sahakari Bank. “First, it reduces our cost and complexity – simplifying and reducing steps across the complete IT life cycle; second, it provides additional security by helping reduce enterprise risk with trusted protection built in from the hardware up; and third, PureSystems significantly reduces new application deployment times.” Working with Business Partner Finacus Solutions, IBM provided Thane Bharat Sahakari Bank with a solution consisting of IBM PureFlex System, Flex System Manager (FSM), V7000 Storage, Flex Chassis, Blade Center H, and Tape Library TS 3100. The solution helps the bank to cater to newer workloads much faster, bringing down the deployment times from days and months to hours.

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5.1 Introduction :In the above section 2.3 of Research Methodology, we have discussed origin of the research, design of the research, variable of the research, population and sample of the research in the research work. Data analysis is consider to be important step and heart of the research in research work. After collection of data with the help of relevant tools and techniques, the next logical step, is to analyse and interpret data with a view to arriving at empirical solution to the problem. The kind of analysis that can be performed on a set of data will be influenced by the goals identified at the outset, and the data actually gathered. Broadly speaking, you may take a qualitative analysis approach or a quantitative analysis approach, or a combination of qualitative and quantitative. The last of these is very common as it provides a more comprehensive account of the behaviour being observed or performance being measured. 5.2 Data Analysis :The data analysis is the analysis done by the Research Methodology mentioned in the section 2.3. Following is the table that shows the analysis of the Technology used in TBSB is good or improvements are needed in the software to a certain extent.

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Sr. No 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

Technology used in TBSB Q1 1 2 2 3 1 2 1 4 4 3 1 2 3 4 4 4 5 5 5 5

Employee 1 Employee 2 Employee 3 Employee 4 Employee 5 Employee 6 Employee 7 Employee 8 Employee 9 Employee 10 Customer 1 Customer 2 Customer 3 Customer 4 Customer 5 Customer 6 Customer 7 Customer 8 Customer 9 Customer 10

Views of the Population Q2 Q3 Q4 Q5 1 2 1 2 2 3 2 2 2 1 2 2 2 2 3 3 1 3 1 1 3 1 2 2 2 2 3 3 1 4 2 3 4 4 1 3 4 3 3 1 1 4 2 2 2 5 1 2 2 4 2 2 2 3 4 3 3 2 5 4 3 1 1 5 3 5 2 5 4 4 3 4 5 3 2 2 5 2 1 1

Q6 1 2 1 2 2 3 1 2 3 4 1 2 2 3 4 5 1 2 3 2

Table No. 4 In the above table the codes represent the following :    

Very Satisfied = 1 Satisfied = 2 Average = 3 Not Satisfied = 4 Not Very Satisfied = 5

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Question 1 :- How are services of the ATM Machines provided by the Bank ? Response No. of Respondents Very Satisfied 4 Satisfied 4 Average 3 Not Satisfied 5 Not Very Satisfied 4 Table No. 5

Graph :-

ATM Machine Services 4.5 4 3.5 3 2.5

2 1.5 1 0.5 0 Very Satisfied

Satisfied

Average Employees

Not Satisfied

Not Very Satisfied

Customers

Graph No. 1

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Question 2 :- How is the services of the Response Very Satisfied Satisfied Average Not Satisfied Not Very Satisfied

Phone Banking provided by the Bank ? No. of Respondents 4 7 4 3 2 Table No. 6

Graph :-

Phone Banking Services 4.5 4 3.5

3 2.5 2 1.5 1 0.5 0 Very Satisfied

Satisfied

Average Employees

Not Satisfied

Not Very Satisfied

Customers

Graph No. 2

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Question 3 :- How is the services of the Response Very Satisfied Satisfied Average Not Satisfied Not Very Satisfied

Mobile Banking provided by the Bank ? No. of Respondents 3 5 5 5 2 Table No. 7

Graph :-

Mobile Banking Services 3.5 3 2.5 2

1.5 1 0.5 0 Very Satisfied

Satisfied

Average Employees

Not Satisfied

Not Very Satisfied

Customers

Graph No. 3

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Question 4 :- How is the working of the Response Very Satisfied Satisfied Average Not Satisfied Not Very Satisfied

Debit/Credit Cards provided by the Bank ? No. of Respondents 6 8 4 1 1 Table No. 8

Graph :-

Working of Debit/Credit Cards 4.5 4 3.5

3 2.5 2 1.5 1 0.5 0 Very Satisfied

Satisfied

Average Employees

Not Satisfied

Not Very Satisfied

Customers

Graph No. 4

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Question 5:-Are you satisfied with services of E-statement provided by the Bank ? Response No. of Respondents Very Satisfied 3 Satisfied 8 Average 5 Not Satisfied 2 Not Very Satisfied 2 Table No. 9

Graph :-

E-Statements Services 4.5 4 3.5

3 2.5 2 1.5 1 0.5 0 Very Satisfied

Satisfied

Average Employees

Not Satisfied

Not Very Satisfied

Customers

Graph No. 5

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Question 6 :- Are you satisfied with services provided by the OMNI Banking Software ? Response No. of Respondents Very Satisfied 5 Satisfied 8 Average 4 Not Satisfied 2 Not Very Satisfied 1 Table No. 10

Graph :-

OMNI Banking Software Services 4.5 4 3.5

3 2.5 2 1.5 1 0.5 0 Very Satisfied

Satisfied

Average Employees

Not Satisfied

Not Very Satisfied

Customers

Graph No. 6

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Interpretation :From the above tables and graphs we can interpret that the questionnaire was to get the feedback about the performance of the technology in the bank such as the ATM Machines, Phone Banking is used to ask the account details via phone, Mobile Banking using Android App, the performance of the Debit/Credit Cards provided by the bank with RUPAY system for online payments, the E-Statements are provided to those customers who does not have passbook to keep the records of their accounts therefore, they are provided with Bank Statements on monthly basis. The E-Statements are received via e-mail to the email address of the customers and finally the OMNI Banking Software who is the heart of the bank that provides the bank as well as the customers of the bank with the better performance and efficiency managing various transactions of various people to avoid the mistakes by the people using the software, there are two steps to complete a single transaction i.e., first we need to complete the normal procedure of the transaction and the second step is to verify the first step and authorize the transaction and the transaction is complete. We have asked several key question related to the technology of the bank from both employees of the bank as well as the customers of the bank. The above graphs as well as the tables tells that the customers as well as the employees of the bank are really satisfied with the current banking technology or they are not satisfied with the current banking system. Following are the data interpretation from the above table and the graphs :

The Employees of the Bank are satisfied on an average with the ATM Machine services, whereas the Customers of the Bank are not very satisfied with the ATM Machine services provided by the Bank.



The Employees of the Bank are satisfied to help the customers that are using the service of the Phone Banking and the Customers of the Bank are also satisfied with the Phone Banking service but some customers can’t get through the line as it may be busy.

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

The Employees of the Bank boasts about their Mobile Banking services as they are quite satisfied with the app, but the Customers of the Bank that lost/forgot their T-pin or Mpin than they have to visit the bank in order to receive new pin. Hence, they are not satisfied with the Mobile Banking.



The services provided by the Bank regarding Debit/Credit cards both the Employees and the Customer of the Bank are very much satisfied with the performance of the Debit/Credit cards based on the RUPAY system.



The Employees provide the customers with their E-Statements via e-mail while keeping the records of their accounts. Some customers may not be satisfied because of the delay of the statements due to internet traffic.



The OMNI Banking Software is the core of the bank, both the Customers as well as the Employees of the Bank are mostly very satisfied with it as it has reduced lot of effort that were previously required.

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6.1 Introduction :After having research on the questionnaire basis and duly analyzing the same, certain observations are made in this particular chapter. As per the analysis carried at in the earlier chapter 5 the following are the detailed research. 6.2 Findings :Followings are the findings in regard to various responses from the respondents regarding all technology of the bank performed in the Thane Bharat Sahakari Bank selected for the study.  The Bank surely lacks the latest technological equipment and facilities provided by the other banks.  The Bank does not provide the customers with Internet Banking services which normally every bank provides to their customers, the bank is failing to compete their competitors in this field.  Online Account opening facility is not available in the bank which is new trend in the Banking Industry and now it is followed by almost every bank.  The ATM facilities are poor compared to the competitors as the machines that are used as ATM Machines are very old that may be the problem faced by the customers of the bank.  The Online Debit/Credit cards services are not provided by the bank as it is the new technology just introduced in the market and it is gaining the major response gradually.  This also makes the Bank safe for not having any hackers that steals the money from the customers of the bank because some banks have less securities, firewalls can be easily broken by the professional hackers and the bank should have a high-tech and a powerful firewall to protect the customers money from the hackers and scammers. P a g e | 54

6.3 Suggestions :There are few suggestions from our end that we recommend the bank so that it can help to grow in the Banking Industry as well as perform better in the Service Sector of the Banking Industry. Since, providing good services will gain the trust of the customers and it will also help to grow the customers and many investors would help the bank.  Starting the Internet Banking in TBSB as soon as possible will help to compete with the various bank that are in the market as that we can level up to them in every aspect as a rival competitor.  Replace all the old ATM Machines that are troublesome and tedious to operate to the customers with the new ATM machines.  Demonetization is pushing India towards a cashless society, and as banks prepare to deal with the increased influx of electronic transactions, cloud will provide banks with the required elasticity to meet these demands.  The launch of UPI by the National Payments Corporation of India (NPCI) has thrown open the gates for innovation in the open banking space. UPI will empower payment service providers to create state-of-the-art products/offerings without being limited by the underlying account relationships. Customers will be given the flexibility that they desire and a unified interoperable interface will allow all service providers to innovate for better customer experiences.  Start opening of the accounts online that is very beneficial are the customers and the employees of the bank to create a good relationship between them.

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 Online Debit/Credit cards should be introduced so that the customers don’t have to carry the cards but with the help of the mobile phones the customers can make a payment easily and there won’t be any Debit/Credit card theft that usually happens.  By exceeding in the Technology in Banking Sector and also continuing in providing the services to the customer than the bank may achieve the trust of the customer and also grow at a very large scale.  All Bank need is Marketing Strategy to grow itself by using the technology available in the bank. The most beneficial marketing can be done using Digital Marketing as it can help in many ways to introduce new schemes to the customers because nowadays people are more active online.

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7. Conclusion :The mobile and wireless market has been one of the fastest growing markets in the world. The arrival of technology and the escalating use of mobile and smart phone devices, has given the banking industry a new platform. Connecting a customer anytime and anywhere to their money and needs is a must have service that has become an unstoppable necessity. This worldwide communication is leading a new generation of strong banking relationships. The banking world can achieve superior interactions with their public base if they accommodate all their customer needs. They have a unique challenge to keep their customer alliances and keeping up with the new technologies, and competitive strategies that other banks also have to offer the public. Conveniences of services plus outside locations like ATMs are crucial to every banks success. Meeting all challenges including safety and security are perfect examples of good banking strategies. In order for the financial institutions to effectively grow they must embrace the new technologies and customize them to suit their economic success and the public’s success. Online banking is certainly here to stay. Online banking is a necessity for the bank's that we studied and others in order for them to stay in business. While its existence doesn't necessary give them a competitive edge because it is so common place, it is truly a cost of doing business. As a tool of modern living and as a lifestyle aid, it is absolutely indispensable. The fact is that many services that are now being offered with online banking are almost impossible to do conveniently with regular banking. As we venture into the future, the internet will undoubtedly continue to change the banking industry.

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Annexure Questionnaire :Name -

_____________________________________________

Occupation -

_____________________________________________

Email Address -

_____________________________________________

Contact Detail -

_____________________________________________

Sex : Male

Female

Other

Q1) How are services of the ATM Machines provided by the Bank ? Very Satisfied Satisfied Average Not Satisfied Not Very Satisfied Q2) How is the services of the Phone Banking provided by the Bank ? Very Satisfied Satisfied Average

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Not Satisfied Not Very Satisfied

Q3) How are the services of the Mobile Banking provided by the Bank ? Very Satisfied Satisfied Average Not Satisfied Not Very Satisfied

Q4) How is the working of the Debit/Credit Cards provided by the Bank ? Very Satisfied Satisfied Average Not Satisfied Not Very Satisfied

Q5) Are you satisfied with the services of the E-Statements provided by the Bank ? Very Satisfied Satisfied P a g e | 59

Average Not Satisfied Not Very Satisfied

Q6) Are you satisfied with the services provided by the OMNI Banking Software used by the Bank ? Very Satisfied Satisfied Average Not Satisfied Not Very Satisfied

Complaints :______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________

Suggestions :______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________

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Biblography

 www.thanebharatbank.com  http://egov.eletsonline.com/2012/10/tbsb-first-bank-to-adopt-ibm-puresystems/  Role of Technology in Indian Banking Sector, IJMBS Vol. 2, Issue 4, Oct-Dec 2012, ISSN : 2230-9519 (Online)  https://en.wikibooks.org/wiki/Research_Methods/Types_of_Research  http://teachingcommons.cdl.edu/cdip/facultyresearch/Typesofresearch.html  http://www.infrasofttech.com/banking-products/core-banking-solution  http://www.infrasofttech.com/banking-products/core-banking-for-cooperative-sector  http://www.infrasofttech.com/banking-products  https://www.mbaknol.com/business-finance/role-of-information-technology-it-in-thebanking-sector/  http://www.freepatentsonline.com/article/Review-Business-Research/177943283.html  https://www.useoftechnology.com/role-technology-banking-industry/  https://www.sapling.com/8749594/advantage-disadvantage-banking-technology  http://smallbusiness.chron.com/online-banking-disadvantages-2248.html

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