Page 251 - ICDEBI2018

I International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456nternational Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470 | IF: 4.101

Mobile Banking, Phone Banking, SMS banking obile Banking, Phone Banking, SMS banking
Data collection and Interpretation: M
Services offered by the bank: and missed call banking:
Through Mobile banking, IPPB provides the facility hrough Mobile banking, IPPB provides the facility
Saving Account: T
Bank provides saving account in 3 different variants Bank provides saving account in 3 different variants to operate the bank account on android mobiles. The to operate the bank account on android mobiles. The
i.e. Regular saving account, Digital saving account unt, Digital saving account customer can do almost all the transactions using the customer can do almost all the transactions using the
and Basic saving account. I IPPB Mobile App. The transactions like Balance and PPB Mobile App. The transactions like Balance and
s
statement enquiry, fund transfer, bill paymenttatement enquiry, fund transfer, bill payments,
The Regular saving account is the Zero balance The Regular saving account is the Zero balance cheque book request, stop payment request and sweep cheque book request, stop payment request and sweep
account with Interest rate of 4% p.a. This account also account with Interest rate of 4% p.a. This account also funds etc. can be carried using the mobile banking.funds etc. can be carried using the mobile banking.
provides the facility of fund transfer through IMPS provides the facility of fund transfer through IMPS
and the facility of Bill payments and rechargeand the facility of Bill payments and recharges. The In Phone banking, there is no requirement of having In Phone banking, there is no requirement of having
unique feature of the account is the use of QR card unique feature of the account is the use of QR card Android mobile with internet connection to use these Android mobile with internet connection to use these
and the facility to link POSA (Post Office Saving and the facility to link POSA (Post Office Saving services. Except Fund transfer and the Sweeservices. Except Fund transfer and the Sweep funds,
Account). As the deposit limit of Rs. 1 Lakh is Account). As the deposit limit of Rs. 1 Lakh is all other transactions can be done using Phone all other transactions can be done using Phone
applicable to the payment bank, the balance above 1 applicable to the payment bank, the balance above 1 banking
lakh automatically gets swept in to linked POSAlakh automatically gets swept in to linked POSA
S
SMS banking and missed call banking is used only for MS banking and missed call banking is used only for
The charges applicable to the various services vary The charges applicable to the various services vary the balance enquiry and Mini statement.the balance enquiry and Mini statement.
from 0 to 50. There are no charges for deposits and from 0 to 50. There are no charges for deposits and
withdrawal, but there is the limit on the amount from withdrawal, but there is the limit on the amount from Analysis: It seems that IPPB is in line with all other It seems that IPPB is in line with all other
Rs. 5,000 to 20,000. There are charges for each Rs. 5,000 to 20,000. There are charges for each banks in providing these services. The banks in providing these services. The only advantage
transaction for the doorstep facility. The bank transaction for the doorstep facility. The bank also to the bank seems here that the postmen can be the to the bank seems here that the postmen can be the
charges the fees for the fund transfer. These charges charges the fees for the fund transfer. These charges key factor to guide the customers to use these key factor to guide the customers to use these
vary from Rs. 2.5 to 50 per transaction per customer.vary from Rs. 2.5 to 50 per transaction per customer. facilities.

The digital saving account is the Digital version of the The digital saving account is the Digital version of the QR Card and Biometric authentication:QR Card and Biometric authentication:
regular saving account. This account can be opened regular saving account. This account can be opened IPPB is not providing the normal debit card to its IPPB is not providing the normal debit card to its
and operated through the IPPB Mobiand operated through the IPPB Mobile App and customer instead it provides QR card whiccustomer instead it provides QR card which depends
authentication. uthentication.
B
t
Android Phone. The basic saving account is also Android Phone. The basic saving account is also on on the he Biometric iometric a For or this his
t
F
bundled with the same services like regular saving bundled with the same services like regular saving authentication it uses the ADDHAR database. UIDAI authentication it uses the ADDHAR database. UIDAI
account. h
has told to Supreme Court that it cannot insure 100 % as told to Supreme Court that it cannot insure 100 %
biometric matching. In this context if the fingerprint iometric matching. In this context if the fingerprint
b
Analysis: Except the doorstep banking service, there Except the doorstep banking service, there prints doesn’t match the customer cannot perfprints doesn’t match the customer cannot perform any
is no other service which provides the competitive is no other service which provides the competitive transaction.
advantage to attract the new customers. In fact other tomers. In fact other
payment banks like Paytm gives 6% rate of interest payment banks like Paytm gives 6% rate of interest Vision and Mission statement of IPPB: Vision and Mission statement of IPPB:
T
and free fund transfer services. The Bank has been established with the Vision of he Bank has been established with the Vision of
‘Building the most accessible, affordable and trusted Building the most accessible, affordable and trusted
b
Current Account: bank for the common man.’ This vision has backed by ank for the common man.’ This vision has backed by
IPPB offers the facility of a Current Account to the IPPB offers the facility of a Current Account to the the existing network of the postmen. The postmen is the existing network of the postmen. The postmen is
small merchants/ kirana stores and individual small merchants/ kirana stores and individual the most accessible and trusted person for the the most accessible and trusted person for the
businessmen. The minimum monthly balance required balance required common man in rural India. The same postmen are common man in rural India. The same postmen are
for this account is Rs. 1,000. The cheque collection for this account is Rs. 1,000. The cheque collection going to play an important role as a banker to achieve g to play an important role as a banker to achieve
charges of Rs 25 to 200 per instrument based on the charges of Rs 25 to 200 per instrument based on the this vision of the bank.
amount. There are also the charges on cash Deposits amount. There are also the charges on cash Deposits
T
above Rs 15,000 per day. The bank has formed a Mission of ‘Spearheading he bank has formed a Mission of ‘Spearheading
f financial inclusion by removing barriers and reducing inancial inclusion by removing barriers and reducing
Analysis: The maximum limit of Rs 1 lakh on the The maximum limit of Rs 1 lakh on the costs for accessing banking services.’ to achieve its costs for accessing banking services.’ to achieve its
account balance, and the charges on the deposit over account balance, and the charges on the deposit over vision. The financial inclusion is depends on role nclusion is depends on role
Rs. 15,000 per day, indicates that the account is not Rs. 15,000 per day, indicates that the account is not played by the postmen in opening the new accounts. played by the postmen in opening the new accounts.
likely to be preferred by the businessmen. likely to be preferred by the businessmen. A
Also the 17 crore Post office saving accounts can be lso the 17 crore Post office saving accounts can be
linked to the IPPB account which will provide the inked to the IPPB account which will provide the
l

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