Employee Welfare.

Employee welfare entails everything from services, facilities and benefits

that are provided or done by an employer for the advantage or comfort of an employee. It is
undertaken in order to motivate employees and raise the productivity levels.

Welfare facilities enable the employees to live a richer and more satisfactory life. The
various Welfare activities that can be provided to the employees include provision of loans,
free medical facilities, retirement benefits, education facilities for the employee's and their
families, housing benefits, etc.

The purpose of providing such facilities is to make their work life better and also to raise their
standard of living. The important benefits of welfare measures can be summarized as follows:
They provide better physical and mental health to workersand thus promote a healthy work
environment

Central Bank of India, a government-owned bank, is one of the oldest and largest commercial
banks in India. It is based in Mumbaiwhich is the financial capital of India and capital city of state
of Maharashtra.[3] Central Bank of India has a joint venture with Bank of India, Bank of Baroda, and
the Zambian government. The Zambian government holds 40 per cent stake and each of the banks
has 20 per cent.[citation needed]
Central bank of India is one of 20 Public Sector banks in India to get recapitalised in 2009.[4]
Central Bank of India has approached the Reserve Bank of India (RBI) for permission to open
representative offices in five more locations – Singapore, Dubai, Doha and London.[5]
As on 31 March 2018, Bank has network of 4685 branches, 4886 ATMs, 10 satellite offices and 1
Extension Counter. The pan India presence covering all 29 States, 5 out of 6 Union Territories and
NCT Delhi, 574 District Head Quarters and 626 Districts out of 707 districts in the country.

History[edit]

A 2010 stamp dedicated to Sorabji Pochkhanawala and the 100th anniversary of the Central Bank of India

The Central Bank of India was established on 21 December 1911 by Sir Sorabji Pochkhanawala with
Sir Pherozeshah Mehta as Chairman,[6] and claims to have been the first commercial Indian bank
completely owned and managed by Indians.[citation needed]

Early-20th century[edit]
By 1918 it had established a branch in Hyderabad. A branch in nearby Secunderabad followed in
1925.[citation needed]
In 1923, it acquired the Tata Industrial Bank in the wake of the failure of the Alliance Bank of Simla.
The Tata bank, established in 1917, had opened a branch in Madras in 1920 that became the
Central Bank of India, Madras.[citation needed]
Central Bank of India was instrumental in the creation of the first Indian exchange bank, the Central
Exchange Bank of India, which opened in London in 1936. However, Barclays Bank acquired
Central Exchange Bank of India in 1938.[7]
Also before World War II, Central Bank of India established a branch in Rangoon. The branch's
operations concentrated on business between Burma and India, and especially money transmission
via telegraphic transfer. Profits derived primarily from foreign exchange and margins. The bank also
lent against land, produce, and other assets, mostly to Indian businesses.[8]

Post-World War II
In 1963, the revolutionary government in Burma nationalized Central Bank of India's operations
there, which became People's Bank No. 1.[9]
In 1969, the Indian Government nationalized the bank on 19 July, together with 13 others.

Nameboard of Central Bank of India, Shankar Sheth Road Branch, Pune

In the 1980s the managers of the London branches of Central Bank of India, Punjab National Bank,
and Union Bank of India were caught up in a fraud in which they made dubious loans to the
Bangladeshi jute trader Rajender Singh Sethia. The regulatory authorities in England and India
forced all three Indian banks to close their London branches.
Central Bank of India was one of the first banks in India to issue credit cards in the year 1980 in
collaboration with MasterCard.[citation needed]
On its 108th Foundation day Central Bank of India launched its first step towards robotic banking, a
robot named "MEDHA".

1 Introduction The financial services industry has recently been open to historic transformation. So-
called edevelopments are emerging and advancing rapidly in all areas of financial intermediation and
financial markets: e-finance, e-money, E-banking, e-brokering, e-insurance, e-exchanges, and even e-
supervision. The new information technology (IT) is turning into the most important factor in the future
development of banking, influencing banks‘ marketing and business strategies. The driving forces behind
the rapid transformation of banks are influential changes in the economic environment: innovations in
information technology, innovations in financial products, liberalization and consolidation of financial
markets, deregulation of financial intermediation etc. These and other factors make it complicated to
design a bank‘s strategy, which process is threatened by unforeseen developments and changes in the
economic environment and therefore strategies must be flexible to adjust to these changes. The
question is not any more whether the emergence of Internet has been a threat or an opportunity as
those who have decided to protect themselves from the threats instead of using the opportunities are
determined to vanish from the marketplace.

1 Electronic Banking lets you handle many banking transactions via your own personal computer. For
instance, you may use your computer to view your account balance, request transfers between accounts
and pay outstanding bills electronically. Internet banking system is a method in which a personal
computer is connected to internet by an internet service provider directly to a host computer system of
a bank such that customer service requests can be processed automatically without need for
intervention by customer service representatives. The system is capable enough to distinguish between
those customer service requests which are capable of automated fulfilment and those requests which
require handling by a customer service representative. The system is connected with the host computer
system of the bank so that the remote banking customer can access other automated services of the
bank. The method of the invention includes the steps of inputting a customer 2 banking request from
among a menu of banking requests at a remote personnel computer which transmits the banking
requests to a host computer over a network; receiving the request at the host computer; identifying the
type of customer banking request received; automatic logging of the service request, comparing the
received request to a stored table of request types, each of the request types having an attribute to
indicate whether the request type is capable of being fulfilled by a customer service representative or by
an automated system; and, depending upon the attribute, directing the request either to a queue for
handling by a customer service representative or to a queue for processing by an automated system.

1.2 Statement of Problem In many banks throughout the world, e-banking is now the focal area of
bankers because it reduces the cost of doing transactions, attracts new customers, makes transactions
faster than before, creates new markets, and enhances service quality. E-banking is a new industry and
consumer acceptance and use of e-banking is still limited. There is only a vague understanding of factors
influencing consumers‘ adoption of e-banking. Many corporate and consumers in India either do not
trust or do not have access to the necessary infrastructure to be able to process e-payments. Very little
research has been undertaken in India on infrastructure and security measures of E-banking in India in
general and in Pune city in particular, hence the need for a study of this nature was felt. The following
question can therefore be asked

:  What are the factors that influence the adoption of e-banking in Pune City?

 An understanding of how demographic characteristics, social influences, consumer perceptions and

attitudes toward e-banking influence the adoption of e-banking?
 What are the various infrastructure and security measures taken up by RBI and PSBs? This study will
enable banks to develop solutions and plans to attract consumers and to adopt proper infrastructure
and security measures.

3 1.3 Relevance of the study The developing countries can not develop without the progress of E-
banking. Development of E-banking would result in :

 Cost reduction

 Fast delivery of services

 Reaching more customers

 Speedy economic and commercial development. As a result of this fact, countries which don‘t want or
cannot obtain this chance; will gradually vanish from universal economics.

1.3.1 Academic relevance The present study shall be helpful in many ways. To further the
understanding about Infrastructure And Security Measures of E-banking System and their role in
economic development. This study shall help in promoting appropriate culture of growth in modern
business. This study shall be of a great use in understanding the driving forces and principles to govern
Indian Public Sector Banks for Implementation of E-banking System.

1.3.2 Research relevance Banking has a history of more than 150 years in India. How these institutions
have worked in Indian context? What are their objectives, functions and purposes? can be rightly
understood if one understands the systems, mission, vision, and objectives of banking. From this point
of view, the study is of great use to know about the infrastructures of banking and its prevailing
practices. It will also help to understand the strengths and weaknesses in the present system. It shall
throw light on the areas where security measures of E-banking can contribute positively and how it can
enhance the growth process.

1.3.3 Policy relevance This study can also help to know what the important aspects of infrastructure
And Security Measures of E-banking are, what challenges are faced by implementation of E-banking in 4
public sector banks and how the E-banking system can resolve the critical issues it is presently facing. 1.4
Objectives of the study The following objectives have been set for this study:

1.To review the progress of E-banking in India..

2. To evaluate the difficulties faced by Indian banks to create infrastructure for E-banking in India.

3. To study the security measures undertaken by Indian banks for the safety of E-banking. 4. To
understand the bank costumers‘ perception regarding security measures.
1.5 Scope and Limitation Scope of the study:

1. Geographical scope is confined to Pune city.

2. Only four PSBs are selected for the purpose of study.

3. Study pertains to E-banking infrastructure and security measures hence, theoretical scope covers an
overview of PSBs, modern E-banking services and associated risks, e-banking infrastructure and security
measures adopted so far. Limitations of the study:

1. Study is limited to Pune city only.

2. Responses from only four banks out of twenty one have been collected.

3. Responses generated from the respondents are based on their personal views.

1.6 Statement of the Hypothesis The hypotheses set for this study are:

1. Indian public sector banks lack state of the art infrastructural facilities(AIF) for developing E-banking

2. Indian public sector banks do not observe the principles of operational risk(POR) for the development
of E-banking

3. Indian banks lack adequate cultural infrastructure(CI) for developing E-banking.

4. Indian banks lack adequate legal infrastructure (LI) for developing E-banking.

5 Justification of hypothesis The hypothesis set for the study can be justified as follows: 1) Justification
of Hypothesis 1: The hypothesis stresses on the foundation for commencing E-banking in promoting
trade and economy. It is necessary to identify the factors that help a banking system to work as an
intermediary between banking and society, banking and government, economy, costumers and other
related systems and organizations. The researcher believes that because of its inappropriateness of
defined role, E-banking infrastructures can contribute in multiple ways for development of financial
systems, trading community as well as for promoting banking system.

2) Justification of Hypothesis 2: Second hypothesis stresses on the principles of operational risk(POR) for
commencing E-banking in public sector banks in India. It is necessary to identify the principles of
operational risk (POR) for developing E-banking that help banking system in public sector of India. The
researcher believes that because of its inappropriateness of defined role of principles of operational risk
(POR) in E-banking cant help to public sector banks as well as for promoting banking system in India.

3) Justification of Hypothesis 3: Development of E-banking helps to promote various activities related

with the growth financial system and economy. It is necessary to identify the cultural infrastructure(CI)
that help to banking system. Banks can manage their revenue that works as a vital item in order to have
appropriate distribute of its services in society, economy and other related systems and organized. It
offers potential opportunities of trade development on one hand and development of an appropriate
trading culture on the other. It helps banking system to drive its business in a best way as well as it helps
the government to increase the scope of its economic activities.

4) Justification of Hypothesis 4: The role of a legal infrastructure (LI) is essential to be performed E-

banking system. On the contrary, it has become both- ministerial and developmental in approach. There
are various issues associated with developmental process. It is necessary that the legal infrastructure (LI)
should correlate these issues in a logical manner so that all the society are properly been benefitted. The
role of legal infrastructure (LI) of banking system is promotional, developmental and image maker. As an
essential option in financial institution, it promotes trading and economic opportunities for its users

Research Methodology Data Collection The present study is of analytical and exploratory nature.
Accordingly, the use is made of primary data. The primary data is collected with the help of
questionnaires from a sample of respondents (100 bank officers and 200 customers) from Pune City
using the E-banking services provided by the various branches of PSBs. The key intention of the study is
to evaluate the security and infrastructure measures of electronic banking adopted so far. Therefore
main objective of the study is evaluation of E-banking measures adopted in nationalized banks with
reference to Pune City

. Research methodology:

a. Primary data: this is first hand information is collected from the respondents associated with selected
banks. Structured questionnaire prepared by the researcher and it is filled up by 200 bank customers
and 100 bank officers. Respondents‘ responses are collected from pune city

b. Secondary data: This shall be collected by using a verity of sources. These sources are:

 Publications of Public sector banks

 RBI reports

 Journals Of banking and finance

 Web site of RBI

In the present study, sample is divided into two subgroups based on service users opinion regarding e-
banking based on the PSBs. Service users are selected randomly from the respective banks. The
stratified random sampling technique is used for selection of service users for collecting data from Pune
City for the study purpose. This method is used to make research procedure faster by obtaining a large
number of accomplished questionnaires rapidly and efficiently. This helps to choose the banking sector
in Pune City and their websites. These websites help to get all essential information of the E-banking
services. The selected public sector banks operating in Pune City in form the universe of the study. The
survey of 200 E-banking service users of the selected Public sector banks has been done. The required
data has been collected from respondents through the well-structured and pre-tested questionnaire.
Number of sample units is to be selected from stratum decided by the researcher in advance. This
number is known as quota which is fixed according to some specific characteristics such as usage of E-
banking services via - ATM, Internet and mobile. Quota sampling technique is used for selecting E-
banking service users for the research purpose. From study area, 50 service users per bank have been
selected. The researchers applied their judgments in the choice of the sample and get the required
information quickly.

Selection of Banks: There are 21 public sector banks in Pune city.

No Name of bank Sr. No Name of the bank

1 Allahabad Bank 12 Indian Overseas Bank

2 Andhra Bank 13 Oriental Bank of Commerce

3 Bank of Baroda 14 Punjab National Bank

4 Bank of India 15 Punjab and Sind Bank

5 Bank of Maharashtra 16 State Bank of India

6 Canara Bank 17 Syndicate Bank

7 Central Bank of India 18 UCO Bank

8 Corporation Bank 19 Union Bank of India

9 Dena Bank 20 United Bank of India

10 IDBI Bank Ltd 21 Vijaya Bank