Mobile banking: Its growth, awareness and perception of customers in the public sector banks (PSBs)

Banking sector of India has designed and offered various information technology-oriented financial products and services like ATMs, Tele-banking, internet banking, card banking, M-Banking. Among the various technology-enabled services, M-banking service is more convenient than other services but it is not easy to implement because it has some issues related to security, privacy, mobile phone compatibility and customer awareness. So, the progress of m-banking in India takes place slowly. The present analytical and empirical research design carry out with the purpose to find out the growth of M-Banking and customers’ awareness of M-Banking & expectations under M-Banking. Sampling banks and customers are selected using purposive sampling method. Secondary data were used to measure the growth of M-Banking with respect to volume and value of M-Banking transaction using trend analysis and data collected from May’09 to Jul’12. It is reported that actual volume of M-Banking in the PSBs has high growth compared with expected growth from Sep’11 to July’12. Further, actual value of M-Banking in the PSBs is highly growing than the expected growth from Dec’11 to Jul’12. Further, Primary data was collected through the questionnaire from bank customers in Tamilnadu regarding perception towards M-Banking. It is reported that nearly half of the customers have awareness of M-Banking. Awareness of customers in the PSBs is connected with their educational qualification, place of living and frequency of bank visit. Finally, bank customers are expecting education about M-Banking, effective and efficient services of M-Banking from the bankers.