# Introduction nnovate or evaporate is the success mantra followed by banking sector to exist in the competitive market by focusing on inventions and improvements in electronic delivery channels. The use of technology in expanding banking has been a key focus area of the Reserve Bank. Technological innovation not only enables a broader reach for consumer banking and financial services, but also enhances its capacity for continued and inclusive growth. There are several factors attributed to India's high growth in the recent period-improved productivity, growing entrepreneurial spirit, and higher savings, to name the most important. But one factor usually goes unacknowledged -that is financial intermediation. Improvement in the quantum and quality of financial intermediation ranks along with other factors mentioned above as a key growth driver. And one of the factors that drove the improvement in the quantum and quality of financial intermediation is more wide spread and more efficient use of IT in banking sector. Shastri, (2000), studied the emergence of IT in banking sector. He highlighted some challenges faced by banks regarding IT implementation. Rao (2002) analyzed the impact of new technology on banking sector. The technology is changing the way the business is done and opened new vistas for doing the same work differently in most cost effective manner. Tele-banking and internet banking are making forays such that branch banking may give to home banking. He provided some policies to protect their profitability. Electronification is a relatively new concept in consumer transactions and these are mostly cash and paper-based. In this segment, less than 3% of the consumer-to-business flow value is electronic. With over US$133 billion payments from bank accounts via ECS and NEFT, electronic fund transfers have emerged as the much-preferred option for transactions, with an increasing orientation toward cashless and even cheque-less payments in India. Presently almost 98 per cent of the branches of public sector banks are fully computerized in India, and within which almost 90 per cent of the branches are on core (Centralized online real time exchange) banking platform. Joint ventures have been set up between telecommunication companies and banking sector that envisages opening bank accounts, cashless transfers, cashless spending and payment facilities, targeting the rural and urban poor etc. The regulators believes that mobile banking is yet to show remarkable growth even after the daily transaction limits have been raised to Rs. 50,000 per day per customer. Apart from major banks such as SBI and ICICI & other banks are still to gain numbers in terms of volume and value of transactions. With an objective to deliver higher value for the savings account customers, banks have designed savings accounts with an auto sweep facility with the help of technology. Some banks have established virtual or self-banking branches where the customer enters the branch, explores services on the touch screen and at any time calls up members of the bank staff by video conferencing. Traditional banking has always been a brick and mortar building where people go to deposit or withdraw money. However, the banking Internet sector has exploded in the past ten years in India. ICICI was the first bank in India to introduce e-banking services in India. Online banking can be a bit confusing because it has so many names from internet banking to personal computer (PC) banking as well as electronic banking and banking online. Shetty, (2000), technology is dramatically altering the ways in which financial services are delivered to consumers and continue to do so in future too. Electronic banking or the use of computers and electronic technology as a substitute for traditional paper based transactions, is here to stay. With the popularity of the Internet and the power it gives people to take control of their lives, many traditional banks have created banking Internet web pages where customers could transfer money, set up bill payments recurring or otherwise, quickly check items that have cleared, and many other functions that can be accessed 24 hours per day 7 days a week. Internet banking option has been very popular not only for customers who want to have some control over their account without having to go to the bank but for banks as well whose man hours have been freed up from performing simple tasks like balance inquiries, account transfers, and the likes because the customer does it himself with banking Internet. Internet banking options also include virtual banks. This is the truest form of banking Internet simply because these banks only exist online. Internet banking options have become popular because they save customers time and money, which is a very trendy combination. Banking Internet which only exist online means you will have to transfer your money to the new account or else mail a payment via cheque. Uppal, and Kaur (2007) studied the impact of Information Technology on various parameters of bank performance and concluded that Indian banking industry is quickly moving towards IT. The future of e-channels is very bright. # II. # Overview of Electronic Payments Markets Globally and in India The development of an internet-based electronic payment system permits goods and services to be ordered and paid for irrespective of location, thereby providing opportunities for the creation of completely new business structures and sets of global trading relationships. The internet offers the possibility of 'open systems' for payment and settlement than can operate in parallel to existing, more traditional bank based networks. Consequently, online banking has now become a significant aspect of both wholesale and retail financial services. With the rapid diffusion of the internet, banking in cyberspace is fast becoming an alternative channel to provide banking services and products. Numerous studies have shown that the internet has become the most popular electronic delivery platform for electronic delivery platform for electronic banking (Karjaluoto et al, 2002). Major highlights of electronic payments markets globally and in India: The payment business in India is currently witnessing a phase of a rapid transition, enabled by the growing acceptance of electronic payment systems across various segments. A look at the electronic payments in India over the years reveals the growth in electronic payments in India both in terms of value as well as volume. # Expansion of Banking Branches Branch wise Growth status of banks reveals that the rate of growth has been highest for rural banks, followed by semi-urban banks. Thus this throws light on the Govt. policies to provide banking facilities to all citizens in all areas. This is a good sign. Although in absolute numbers there is still quite a lot of difference in bank branches in urban (14248) and metropolitans (13257) compared to 22188 branches in urban areas and 17773 branches in semi-urban areas. Year on year growth of banking branches has been highest (8.85) Branch wise Growth status of private banks as shown in table 2 depicts similar trends to that of public sector banks. The rate of growth is highest for rural sector, viz. 3.23, although this is slightly lower than that of public sector banks. In absolute numbers there is still quite a lot of difference in bank branches in metropolitans (3615) and urban (3569) compared to 4687 branches in semi-urban areas and only 1581 branches in rural areas. Per cent of ATMs to Branches has increased from 110.60 per cent to 268.21 per cent. The growth rate of offsite ATMs is higher than that of on-site ATMs. Overall growth statistics highlights an increase at the rate of 2.42 per cent. # C Year on year ATM growth of private sector banks depicts an increasing trend. The growth rates improved from 11.76 percent to 52.55 percent. # Table 7 : Growth Statistics of ATMs in Foreign Sector Banks Growth Statistics of ATMs in Foreign Sector Bank is again indicative of similar trends as observed for public and private sector bank ATMs, i.e. the growth rate is higher for off-site ATMs than for on-site ATMs. Per In case of regional growth, the southern sectors share has been 33.8 and that of Northern region is 19.3. North-eastern region contributed a smallest share of the pie. Overall results highlight that there is a significant difference between public sector, private sector and foreign banks regarding Number of ATMS as F-value is 11.651and is significant as p<0.001. Post-Hoc test were also conducted and results highlight that that there is significant difference regarding ATM Public Sector Banks and ATM Foreign Sector Banks as p<.001. Regarding ATM Public Sector Banks and ATM Private Sector Banks results highlight that there is no significant difference in the mean score. Post hoc tests for ATMs Private Sector Banks and ATM Public Sector Banks are indicative of the fact that there is no significant difference as already highlighted, but in case of ATM Private Sector Banks and ATMs foreign sector banks there is a significant difference. Post hoc tests for foreign sector banks reveals that in case of both ATMs foreign sector Banks and ATM Public Sector Banks as well as ATMs foreign sector Banks and ATM Public Sector Banks there is a significant difference as p values for both are significant. Thus the hypothesis H 1 : There is significant difference in the means of Number of ATMs of Public, Private and Foreign sector banks has been accepted. # b) Relation between Nature of Bank and ATMs After analyzing a detailed analysis of growth of branches and ATMs the next step was to find the scenario of debit cards. # IV. # Debit Card & Credit Card Performance in India a) Debit Card Market in India During 2010-11, the number of debit cards grew at the rate of 25 per cent over the previous year. ? In sync with the trend observed in case of ATMs, nearly three fourths of the total debit cards were issued by PSBs as at end March 2011. ? The share of PSBs in outstanding debit cards witnessed an increase during the recent years, while that of new private sector banks and foreign banks witnessed a decline over the same period. ? However, in absolute terms, the number of outstanding debit cards witnessed an increase for new private sector banks during the recent years years, while that of new private sector banks and foreign banks witnessed a decline over the same period. On the operational side, despite the convenience offered by ATMs in providing banking services, the debit card penetration continued to be low with only 30 per cent of deposit account holders having a debit card. The status of credit card penetration was worse with only less than two per cent of the population having a credit card. Further, the number of outstanding credit cards witnessed a declining trend during the recent years. As these technological advancements improve the pace and quality of banking services, there is a need to make efforts to improve card penetration in the country. # b) Credit Card Market in India The issuance of credit cards facilitates transactions without having to carry paper money. Despite the decline in the number of outstanding number of credit cards, the volume and value of transactions with credit card recorded a growth of 13 per cent and 22 per cent, respectively in 2010-11. New private sector banks and foreign banks accounted for more than 80 per cent of the total outstanding credit cards as at end March 2011. The electronic payment systems such as Electronic Clearing Service (ECS) credit and debit, National Electronic Fund Transfer (NEFT) for retail transactions and Real Time Gross Settlement (RTGS) for large value, improved the speed of financial transactions, across the country. # Mobile Banking India has 700 million (approx) mobile subscribers, but only 240 million individuals with bank accounts, 20 million credit cards, 88,000 bank branches and 70,000 ATMs. Of the households without a bank account, 42% have at least one mobile phone. This is just a snapshot into the penetration that mobile has achieved in a relatively small period of time. Mobile banking could be a revolution in banking. It has been in the news for quite a while and, very recently, the transaction limit for mobile wallet cards was increased to Rs.50K. Mobile banking in India is set to generate a fee-based income of Rs.202.5 billion (approx. US$4.5 billion) over the next five years, mainly driven by lower transaction costs, favorable regulatory environment and the UID project. By 2015, US$350 billion in payment and banking transactions could flow through mobile phones, compared with about US$235 billion of total credit-and debit-card transactions today. This forecast depends on the willingness of banks, telecom operators, regulators and consumers collectively to embrace this form of payment. The RBI introduced operative guidelines for banks for mobile banking transactions in India in October 2008 under the umbrella of the Payments & Settlements Act 2007 with a few revisions and clarifications outlined in subsequent releases. The key highlights of the act are: ? Only rupee based domestic services are permissible, clearly prohibiting the use of crossborder inward and outward transfers. ? Banks are allowed to use the services of business correspondents top extend this facility to customers. ? Only banks with core banking solutions would be permitted to provide mobile banking services on their platform. ? The customer registration for mobile banking is mandatory. ? The mobile banking service offered by banks should be network operator-agnostic and should work across the entire mobile spectrum of operators. ? To ensure inter-operability between banks, message formats such as ISO 8583 were to be adopted for transactions. There are essentially two mobile banking metamarkets in India: rural and urban. Over the next five years, unbanked rural markets could begin to rival the urban market in size. In urban areas, many consumers have bank accounts, but still rely on cash for 90% to 95% of small-ticket transactions. Mobile payments would not only seek to change the cash-based nature of transactions, but also would be a tremendous convenience for these consumers. The mobile banking industry in India is ready to take off, especially with the ecosystem players, i.e., operators, banks and mobile manufacturers coming together and launching pilot services. The Inter Bank Mobile Payment Service (IMPS) facility was launched with much fanfare in November 2010, under the aegis of the National Payment Corporation of India (NPCI). It promised an instant interbank electronic fund transfer service that customers could conveniently access using their mobile phones. However, although the facility is being offered by more than 20 banks across the country, the adoption rate has been low. Industry analysts have attributed this to the fact that the service in its current format is custom-made for Smartphone users who can download an application from their respective banks and use it to make a fund transfer. Users with basic phones have the option of transferring funds via an SMS, which limits the transaction value. With more than 600 million connections and over 15 million being added each month, currently just 5% of mobile phone subscribers are registered for the service. Even among the registered users, only a small fraction uses it regularly. Approximately 680,000 transactions worth Rs.610 million (US$13.55 million) are conducted every month. # a) Developments in the Mobile Banking Arena RBI has been insisting repeatedly that mobile payments in India have to be driven by a bank-led model. This has prompted several stakeholders such as handset manufacturers, network providers and telecom operators to enter into strategic tie ups with banks to develop a scalable model. Several offerings have emerged or are around the corner over the past year. With an objective to deliver higher value for the savings account customers, banks have designed savings accounts with an auto sweep facility with the help of technology. The product feature works in a way that when the balance exceeds a given threshold value, the same is converted into a fixed deposit. If the balance falls, the fixed deposit is automatically broken and the balance is automatically credited back to the savings account of the customer. This facility provides a greater yield for customers on ideal funds and help banks retain low-cost deposits. # b) Smart Cards The processor type smart cards with built-in integrated circuits (ICs) or microchips offer a wide range of transactional opportunities even from remote areas. Smart cards are extensively used for transactions such as cash withdrawals from ATMs, payment of bills and online purchases. # c) Virtual Banks Multimedia technology has been quite effective in bringing banking services to the doorstep of its customers. The customer-activated terminal (CAT) or self-banking kiosks are an interactive multimedia display unit, housed in a small enclosure, which typically consists of a computer workstation, monitor, video disk player and a card reader. It enables customers to browse through the information and use the available banking services at their own speed. Some banks have established virtual or self-banking branches where the customer enters the branch, explores services on the touch screen and at any time calls up members of the bank staff by video conferencing. While customers get the convenience of 24X7 banking, the bank saves in heavy real estate and manpower costs when compared to establishing a branch. # d) Electronic Funds Transfers Real time gross settlements (RTGS) and national electronic funds transfer (NEFT) have transformed the way funds transfers are done. Moving from three to four days for clearing and funds transferred, banks have moved to real-time transfers using online channels and mobile phones. # VII. # Conclusion Major developments in banking sector due to technology are taking place. In the face of the new competitive pressures, inherent rigidities in public sector banks to enhance serious challenges. The gap between partially using IT in banks and fully using IT in banks has widened. Financial sector reforms experienced that as compared to new private sector banks and foreign banks, in public sector banks very less IT has taken place. This IT in new private sector and foreign banks is becoming threat and also motivation for Indian public sector banks. Thus in this competition those banks will survive in the future which will manage technology infrastructure and innovations in the products and services offered by them. # Bibliography 1![Figure 1 : Electronic Payment Trends Figure 1 illustrates how paper-based payments have fared vis-à-vis electronic payments in the recent past, in terms of transaction volume and transaction value. While paper based payments, which are essentially payments made through cheques, still command a lion's share in terms of volume, electronic payments overtook cheque payments in terms of value in 2006-07 and command a larger share of the total payments pie today. (Figure 2)The percentage of electronic transactions in terms of volume has also been growing y-o-y since 2006-07. However, the credit for the shift in transaction volumes toward electronic transactions goes to regulators. After RBI made it mandatory for banks to route high-ticket transfers through RTGS, 96% of the value of payments made electronically come through RTGS, while just about 1% of the electronic transactions are done through RTGS.](image-2.png "Figure 1 :") 2![Figure 2 : Value breakup -Cheque and Electronic If we consider the value for the paper-based transactions and the average daily value of electronic transactions, we can clearly see that the electronic transactions have been doing better that the traditional payment systems. Large banks and private banks are doing really well in the electronic transactions space. There are 26 public sector banks (State Bank of India and its five associates, 19 nationalised banks and IDBI Bank Ltd.), 7 new private sector banks, 14 old private sector banks and 36 foreign banks operating in India. The number of SCBs increased to 83 in 2010-11 from 81 in 2009-10. Presently almost 98 per cent of the branches of public sector banks are fully computerised in India, and within which almost 90 per cent of the branches are on Global Journal of Management and Business Research](image-3.png "Figure 2 :") ![in 2012. Recessionary trends prevalent in the economy had their effect here as shown by lower growth rate in 2009.Recovery started in year 2010 with arise to 6.11 per cent. A slight fall recorded in 2011. Overall trend depicts an increase during the period.](image-4.png "") 1![Figure 1 : Year on year growth of banking branches](image-5.png "Figure 1 :") 2![Figure 2 : Year on Year Growth Rates of number of branches in Private sector banks In terms of Year on Year growth of private sector bank branches, the growth rates depict a rising trend from 5 per cent growth to 16 per cent. Recessionary trends are visible in private sector banking as well.](image-6.png "Figure 2 :") 3![Figure 3 : Year on Year Growth Rates of number of branches in Foreign sector banks As shown in figure III Year on year growth rates of total Foreign sector banks depict a declining trend. The surprising results are that while public sector banks and private sector banks showed lower growth rates in 2009, foreign sector banks in the same year depicts the highest growth.](image-7.png "GlobalCFigure 3 :") 4![Figure 4 : Area-wise distribution of ATMs. Area-wise distribution status (Figure IV) of ATMs reveals that metropolis dominate with 33.8%, followed by urban areas with 32.3%. Rural centres have the least percentage of 9.6%.](image-8.png "Figure 4 :") 5![Figure 5 : Year on Year of ATM Growth rates of Public Sector Banks Year on Year growth rates of public sector ATMs as depicted in Figure V shows the highest growth in 2010. The lower growth is reported in 2009, the time period of recessionary trends in India. In 2011 and 2012 there was again a deceleration in growth rates.](image-9.png "Figure 5 :") 5![Figure 5 : Year on Year of ATM Growth rates of Private Sector Banks](image-10.png "Figure 5 :") ![cent of ATMs to Branches has increased from 329.34 per cent in 2005 to 439.13 per cent in 2012. While onsite ATMs increased from 218 in 2005 to 284 in 2012.](image-11.png "") 6![Figure 6 : Year on Year of ATM Growth rates of Private Sector Banks Year on year ATM growth of private sector banks depicts a mixed trend. The growth rate has been highest in 2011. In the year 2010, there was deceleration in growth.](image-12.png "Figure 6 :") 1S. No.YearBranchesRuralSemi-urbanUrbanMetro-politanTotalGrowth Rate(Y-O-Y)1200519068113719269758047288-22006182191114694399039478431.17320071811211728101689658496663.814200818526126851126010409528806.475200918941135041199410999554384.846201019567145951292011743588256.117201120387159781356912277622115.768201222188177731424813257674668.45Overall Growth Rate3.412.151.671.211.90 2S NoYearRuralSemi-urbanUrbanMetropolitanTotalGrowth Rate (Y-O-Y)120051102184717391508619622006103317691910180465165320079852064211819367103942008103123682417215979755200911132638271524118877620101201303730272762100277201113113814331531621160282012158146873569361513452Overall Growth Rate3.232.221.611.671.94 3S No.YearRural Semi-urban UrbanMetropolitanTotalGrowth Rate (Y-O-Y)1200500382042422200601372212597.023200702442272735.414200802492262771.475200944522332935.786201056602373085.127201178612413172.928201278612463221.58Overall Growth Rate2.251.721.681.001.30Branch-wise status of Foreign sector banks isindicating that although foreign banks had theirpresence in metropolitan and urban areas in 2005. Theymade their presence in rural areas in 2009 with fourbanks and now there are seven banks. Foreign banks insemi-urban areas have improved from 1 in 2006 to 8 in2012. 4Growth Rate (Y-O-Y)Growth Rate (Y-O-Y)7.025.415.785.122.921.471.582006200720082009201020112012GroupsMeanF-TestPost Hoc Test (Levene Test)(S.D.)(p-value)Groupsp-ValueRemarksPublic Sector Bank55202.13355.451Private Sector Bank.000There is significant differenceBranchesp <.001Branches(7226.329)Foreign Sector Bank.000There is significant differenceBranchesPrivate Sector Bank8968.50Public Sector Bank.000There is significant differenceBranchesBranches(2572.784)Foreign Sector Bank.002There is significant differenceBranchesForeignSector286.38Public Sector Bank.000There is significant differenceBank BranchesBranches(28.545)Private Sector Bank.002There is significant differenceBranchesa) Status of ATMs in Indian Banks 4S NoYearPublic Sector BanksPrivate Sector BanksForeign Sector Banks1200599926853797220061260876598803200716329979996042008217881196710345200927277153201054620104068018447102672011494872365113678201258193360791414Overall Growth Rate1.922.181.80 5Year 2014Volume XIV Issue IV Version I( ) CS No. 1 2 3 4 5 6 7Year 2005 2006 2007 2008 2009 2010 2011On-site Off-site 4753 5239 6587 6021 10289 6040 12902 8886 17379 9898 23797 16883 29795 19692Total 9992 12608 16329 21788 27277 40680 49487Public Sector ATMs Growth Rate (Y-O-Y) Per cent of Off-site to total ATMs -52.4 26.2 47.8 29.5 37.0 33.4 40.8 25.2 36.3 49.1 41.5 21.6 39.8Per cent of ATMs to Branches 21.1 26.4 32.9 41.2 49.2 69.2 79.5Global Journal of Management and Business Research8201234012241815819317.641.686.3Overall Growth Rate1.782.151.92 6S. No.YearOn-siteOff-siteTotalGrowth ratePer cent ofPer cent of(Y-O-Y)Off-site toATMs toTotal ATMsBranches12005268341706853-60.85110.602200633094350765911.7656.80117.543200742585541979927.9456.55137.9642008531566521196722.1255.59150.0652009699683241532028.0254.33172.5862010860398441844720.4153.36183.977201110648130032365128.2154.98203.858201213249228303607952.5563.28268.21Overall Growth Rate1.862.422.18 2S No.Bank GroupOutstanding Number of Debit cards (in millions)Year--?2007-082008-092009-102010-2011IPublic sector banks64.3391.70129.69170.34a)Nationalised banks28.2940.7158.8280.27b)SBI group36.0450.9970.8790.07IIPrivate sector banks34.1041.3447.8553.58a)Old private sector banks5.347.099.8112.44b)New private sector banks28.7634.2538.0441.14IIIForeign banks4.024.394.433.92 3Sr.No.Bank GroupOutstanding Number of Debit cards (in millions)Year--?2007-082008-092009-102010-2011IPublic sector banks3.933.443.263.08a)Nationalised banks0.720.720.730.78b)SBI group3.212.722.532.30IIPrivate sector banks13.2912.189.509.32a)Old private sector banks0.040.060.060.04b)New private sector banks13.2512.129.449.28IIIForeign banks10.339.085.575.64Chart 5 : Shares of Bank Groups in outstanding Credit Cards V. NFC-enabled handsets and acceptance capabi-lities at merchant outlets. There are several playersin the space of financial inclusion such as FINO,ATOM, Eko and ALW who offer a bouquet ofservices such as deposits, cash withdrawals andpayment & transfer transactions via the mobilechannel.b) Telecommunication Operator Bank Tie-upsFollowing three of India's largest mobileoperators have tied up with India's largest banks to offera bouquet of mobile-based banking and financialservices to their customers:1. Airtel and State Bank of India: A joint venturecompany has been set up that envisages opening? RBI came up with the regulation of an additionalbank accounts, cashless transfers, cashlessfactor across IVR and mobile channels. Thisspending and payment facilities, targeting the ruralaffected mobile service aggregators such asand urban poor. Customers would be offered a no-ngpay, Mchek and Paymate.frills banking account from SBI, across Airtel's 1.5? Several new banks have come up with their mobilemillion+ retailer network. Both partners havebanking offering through java-based applications.envisaged investing more than Rs.1 billion in thisNewer channels such as USSD and SMS have alsoenterprise. The JV plans to acquire more than 2gained in prominence after RBI increased the limitmillion accounts annually.for unencrypted transactions over mobile channel2. Vodafone and the ICICI Bank: Similar arrangementto Rs.5,000 per day.being entered offering financial products ranging? Banks such as SBI offer certain value-addedfrom savings accounts, prepaid instruments andservices such as prepaid mobile recharge, whichcredit products through a mobile phone platform.has been a hugely successful functionality. SBI3.boasts of more than 1 million customers in itsmobile banking platform freedom by virtue ofbalanced service offerings as well as effectivecustomer communication.? Apparently, the regulator believes that mobilebanking is yet to show remarkable growth evenafter the daily transaction limits have been raised toRs. 50,000 per day per customer. Apart from majorbanks such as SBI and ICICI, other banks are stillto gain numbers in terms of volume and value oftransactions.? Nokia Money launched its services with Yes Bankand Union Bank of India to provide financialservices to customers. Nokia plans to use itsdistribution network coupled with the financialprowess of the banks to provide a service of itskind.? Airtel received approval to issue prepaidinstruments from regulators and launch it in thename of Airtel Money. Other mobile operators tooare defining models wherein payment and/ortransfer enabling instruments would be launchedeither on their own or with banks, leveraging theprinciples of business correspondents.? In the area of proximity payments, Citibank, inconjunction with Vodafone and Nokia conductedan NFC (near field communication)-based mobilepayments trial in Bangalore, which sawconsiderable success. However, the scalabilitywould depend on the proliferation and adoption ofa) Savings Accounts with Auto Sweep Facility E-Delivery Channels and Banking Performance in India: A Pragmatic Approach © 2014 Global Journals Inc. (US) E-Delivery Channels and Banking Performance in India: A Pragmatic Approach © 2014 Global Journals Inc. (US) * The adoption of business-to-business e-commerce: empirical evidence for German companies IBertschek HFryges 2002 ZEW Mannheim Centre for European Economic Research Discussion Paper No. 02-05 * E-pull or e-push? Laggards and first-movers in European banking JBughin Journal of Computer Mediated Communications 7 1 2001 * The diffusion of Internet banking in Western Europe JBughin Electronic Markets 13 3 2003 * An Experimental Investigation of Online Banking Adoption in China' GHua Journal of Internet Banking and Commerce 14 1 2009. 20th January, 2010 April. Accessed on * Strengthening Indian Banking and Finance: Progress and Prospects BJalan IBA Bulletin XXV 3 2003. March * Factors underlying attitude formation towards online banking in Finland HKarjaluoto MMattila TPento International Journal of Bank Marketing 20 6 2002 * Inflation Persistence: Facts or Artefacts? CarlosMarques Robalo 2004. June European Central Bank Working Paper * Network effects and the adoption of new technology: evidence from the US telecommunications industry SKMajumdar SVenkataraman Strategic Management Journal 19 1998 * Technology in Banking Sector: Issues and Challenges RKMittal Sanjay Vinimaya XXVII 4 2007. Jan -March * Report on Trend and Progress of Banking in India * A split hazard model for analyzing the diffusion of innovations RKSinha MChandrashekran Journal of Marketing Research 29 1 1992 * Technology for Banks in India-Challenges RShastri IBA Bulletin XXIII 3 2001. March * Recent Trends in Banking Industry: IT Emergence RVShastri Analyst 2003. March * E-Banking VPShetty IBA Bulletin XXI 3 2000. March Special Issue * Indian Banking Moving Towards IT RKUppal RKaur Journal of Commerce and Trade 2 1 26 2007. April