Casolaro,L., Gobbi, G. (2007). Information technology and productivity changes in thebanking industry. Economic Notes,Vol.36, Issue 1( 43-76) This analyses the effect ofinvestment in information technologies (IT) in the financial sector using micro– data from a panel of 600 Italian banks over the period 1989 – 2000.Stochastic cost and profit functions are estimated allowing for individualbanks’ displacements from the best practice frontier and for non – neutraltechnological change. The results show that both cost and profit frontiershifts are strongly correlated with IT capital accumulation.

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Banks adopting ITcapital – intensive techniques are also more efficient. On the whole, over thepast decade IT capital- deepening contribution to total factor productivitygrowth of the Italian banking industry can be estimated in a range between 1.3and 1.8 per cent per year. 2.     Parsons,D.

, Gotlieb C.C. and Denny, M. (1993). Productivity and Computers in CanadianBanking, Z. Griliches and J. Mairesse (Eds.) Productivity Issues in Services at the Micro Level, Kluwer, Boston.

 The study conducted by Gotileb andDenny, deals with the impact of IT on banking productivity includingcomputerisation which has improved the efficiency of the banking transactions.They summed up that higher performance levels have been achieved withoutcorresponding increase in the number of employees. Also, it has been possiblefor public sector banks and old private banks to improve their productivity andefficiency by using IT.  3.

     V.Radha.(2008) Preventing  technology basedBank Funds Frauds. The Journal ofInternet and Banking Commerce. Vol.3, No.

3 The researcher considered thetechnology based opportunities that the thieves take advantages of and how to limitthe frauds by building the future technology accordingly. He described the kindof frauds that can happen in the emerging banking scenario such as mail and webspoofing, attacking user computer or bank’s server,media tapping and denyingservice. He also discussed the prevention mechanism to minimize the frauds byusing public key infrastructure (PKI).

The PKI assures confidentiality,authenticity and integrity of information which two or members’ exchange. 4.     Berger,A.N. (2003). The economic effects of technological progress: Evidence from thebanking industry. Journal of Money,Credit and Banking ,Vol.

35,Issue 2 (141-176) The researcher examinedtechnological progress and its effects in the banking industry. This researchsuggests improvements in costs and lending capacity due to improved “back –office” technologies, as well as consumer benefits from upgraded “front – office”technologies. This analysis also signify that overall productivity increases interms of improved quality and variety of banking services. In addition, itindicates that technological progress likely helped facilitate consolidation ofthe industry. 5.     BalasubramanyaS. (Aug – Sept 2002).

IT wave breaks over banking. THE CITYThe researcher discussed aboutchanging face of banking as revolutionized by technology. He stated that whenbanks depend on technology for their day to day business, the complexity andrisks of technology has to be understood and sufficient backup plan put inplace to ensure continued customer service. In addition to it, as moretechnology based services are provided, the demand from customers will keepincreasing and banks would thereby end up in a technology war. In order to winthis war, investments in technology are going to rise and proper utilization ofthese investments is necessary for banks to ensure that the systems deployedare fully integrated with their operations. So, with more and more centralizedcore banking solutions being deployed by major banks, there is a strong faithneed to provide comprehensive telebanking services either from a singlelocation or fro regional locations based on computer language preference. 6.

     KunkalienkarManoj. IT in Banking  2003 (Special)Perspectives of CEO’s:  Banking SoftwareCompanies(http://www.banknetindia.

com/special/itb8b.html) This study depicts that technologyis a revolutionary agent, it will not be a cure for all insufficiencies. Themain area of awareness for banks is going to be the re – skilling of theworkforce, both in technology and non – technology areas. One of the majorareas where re – skilling is needed is in the area of customer service andcustomer focus, how to manage customer expectation and his feedback, how toattract new profitable customers , how to package product and services to meetcustomer need  and to create a hygienicbranch environment and other contact points. While technology may not be a curefor all but it is definitely an enabler. The tool has to be used efficientlyand effectively to originate maximum benefits.

 7.     MitalR. K.

and Dhingra Sanjay. (2006 – 07). Technology in Banking Sector: Issues andChallenges. Vinimay.

Vol.XXVII. No.

4. The researchers take up the issuethat transactions technology channels cost much less to the banks than thecustomers reaching the bank and doing the transactions. In the last decade,banks have invested heavily in the technology. In the use of informationtechnology, the new private and foreign sector banks have taken lead over thepublic and old private sector banks. Public sector banks also invested heavilyin technology to compete with the new private and foreign sector banks. In thestudy, researchers have identified the different technology issues andchallenges such as choice of right channel, justification of IT investment interms of ROI( Rate Of Interest), e – governance, customer relationshipmanagement, security concerns, penetration of IT in rural areas etc. Banks arerequired to address these issues and challenges effectively to stay in businessand grow.  8.

     RadhakrishnaGita and Pointon Leo.(Feb 2007) Fraud in Internet Banking: A Malaysian LegalPerspective. ICFAI University Journal ofBank Management.

Vol.VI. Issue 1 (47 – 62)Radhakrishna Geeta and Pointon Leoexamined the legal issue specific to internet banking, focusing on theincidence of fraud and its prosecution.

The objective of research was toinvestigate three questions in relation to Malaysia. First, the incidence offraud in internet banking;secondly, the adequacy of the relevant regulationsand statutes and third, whether the setting up of a cyber court would betterfacilitate the prosecution of such financial crimes in Malaysia. Technology andthe borderless nature of the internet present fraudsters with manifoldopportunities. Phishing leads to identify theft and money laundering has beenfound to be the main threat to internet banking. The newness of the subject andtraditional banking specific to Malaysia.

It was found that the applicabilityof various exiting laws and banking practices to internet banking has not beenfully tested in Malaysia and is still evolving. 9.      D. Joe Edwinraj. (April – June 2005).

Information Technology : The emerging driving force in cooperative banks. Cooperative Perspective. Vol.40, No. 1.Edwinraj (2005) described the roleof information technology in cooperative banks. In these banks IT plays acrucial role in establishing and maintaining contact with potential customers.An effective and efficient management information system made a major impact ondeposits, loans and other services provided by cooperative banks.

This studyconcluded some benefits of computerization such as employees have informationon their fingerprints and has risen the accessibility of customers to banks. IThas removed manual transactions and has replaced old control room with oneoperator.  R.

A. GbadeyanO. O. Akinyosoye – Gbonda(2011). ” Customers’ Preference For E – BankingServices: A Case Study Of Selected Banks In Sierra Leone”.  Australian Journal Of Business And ManagementResearch Vol.1 No.

4,.Pp108-116 Accordingto the author with rapid progress and advancement in information technology andcommunication technology, there are some major and rapid changes in almost allsphere of life. Banking industry had been widely accepting and replacingtraditional ways of banking practices in almost all parts of the world.

Information technology and banking hold very strong bond in the form of onlinebanking. The main focus is on customer satisfaction in terms of providing thembetter service quality and enabling banks to gain more competitive advantageover their competitors and rivals for more market share and market growth. Onthe other hand there are many risk these are associated those are working as abarrier in the path of success of e-banking services. It is also a matter ofgreat concern for both financial institutions and the customers as banking isthe most sensitive and vulnerable sector which is always at risk.

The authortried to examine the choice of bank made by the customers on the basis ofe-banking services provided by the concerned bank. For this stratified samplingtechnique was used and well defined questionnaire was developed that comprisedof open ended questions. Questions were framed using 4-point Likert scaleindicating 1-very comfortable, and 4 as uncomfortable. In the first part of thequestionnaire personal details were taken from the customers in first sectionand in second desired information from the customers is taken regardinge-banking is taken. Almost 360 respondents were evaluated using Chi-square andcorrelation method as a statistical tool. It was analyzed that there wassignificant influence on the customer.

Furthermore, there were manyrecommendations that some more advance security systems should be installed.For instances, installation of encrypted software, through verification ofidentifications cards of the customers, encouraging customer to make frequentchanges in their password etc may help in low vulnerable risk of the e-bankingsystems. The author in his paper concluded that as e-banking is an importantphenomenon in banking world therefore, more progressive and innovative bankingsystem should be introduced. Chaffey, D; Mayer, R; Johnson, K andEllis Chadwick, F (2006). Internet Marketing: Strategy, Implementation andPractice, (3rd Edition) Financial Times/Prentice Hall, Harlow, Essex, U.K, 8 –10Thee-marketing concept has very broader concept and wider scope. The concept ofinternet marketing was provided by the author Chaffey et.al.

that described itas “Application of the internet and related digital technologies to achievingmarketing  objectives”. Some other termlike digital marketing and electronic marketing were also given that are nowbeing used increasingly by the specialist marketing agencies.  Noyan a, F., ?im?ek a, G.G.,(2014).

“The antecedents of customer loyalty”. Procedia – Social and BehavioralSciences 109. 1220 – 12242nd World Conference On Business,Economics And Management- WC-BEM 2013The author aimed to build a conceptual model tobuild clear understanding of the customer loyalty. It was observed thatcustomer satisfaction is very important and ultimate indication of customerloyalty.

Both these are antecedent dose for each other. In the study thestructural equation modeling data analysis tool has been used and the data wascollected form about 1530 customer from four different major chains ofsupermarkets of Turkey. The author believes that customer retention is moreprofitable than customer acquisition hence customer loyalty becomes veryimportant for any organization. The author focused on certain measures likecustomer should purchase more, improve its future purchase and should advise toother about the stores for whom they are delighted customers. Customer loyaltywas studied on basis of three different parameters firstly, intent to increasepurchases, secondly, intent to continue shopping and lastly, intent to makerecommendation of the store that further depends upon certain parameters likeperception  about the price, discounts,quality of the product, service quality, value perception and customersatisfaction. It was found that perception about the price, discounts and customersatisfaction holds positive and direct relationship with customer’s loyalty. Onthe other hand quality of the product, service quality and value perception hadindirect relationship and effect on customer loyalty. It was also found thatservice quality is considered to be the basics of customer satisfactionwith customer loyalty.

Kumbhar, V.K., (2011).

“FactorsAffecting The Customer Satisfaction In E-Banking: Some Evidences Form IndianBanks Management Research And Practice Vol. 3 Issue 4 (2011) Pp: 1-14Theauthor in his study evaluated certain major factors like quality of services,perception about the brand and the perceived value those affect customersatisfaction in E-banking settings.  Alsohow these quality services influence each other. The data was collected fromcustomers after doing certain survey through well designed questionnaire. Forthis likert scale was used. Many senior level managers, experts in customerservices and marketing were interviewed to collect relevant data.

The data wasanalyzed through using principle component (PCA) using SPSS 19.0.  The results revealed that perception aboutthe brand, perceived value, cost effectiveness, convenience to use and handlingdifferent set of problems, security and effective responsiveness play major andeffective role in satisfying customers in E-banking. For the above mentionedvariable 48.30 percent of variance was observed. Nearly 21.70 percent ofvariance was in case of variables like contact facilities, availability ofsystems, fulfillment of desired problems, its efficiency and compensation,which was very less as compared to other above mentioned factors. Beside allthese all the above mentioned factors are predicators of perceived values inE-banking system.

Therefore it becomes necessary for designers of servicesrelated to e-banking that possible changes should be made according to the needof the customer and certain dimensions should be reconsidered for thebetterment of the overall  bankingoperations and the customers (in case of customer expectation and need of the customer). Reynolds, J. (2007). ARetrospective Data Examination Of Customer Loyalty In The E- Banking TechnologyServices Industry: Strategies For New Successes, A Dissertation Presented inPartial Fulfillment Of the Requirements for the Degree Doctor of Philosophy,Capella University, November 2007Thestudy was conducted to examine the e-banking technology in 2006 when conceptwas e-banking was new for the customer and there acceptable ratio was very lessas compared to time now. The survey was conducted in order to improve themarketing resources and its allocation in case of cooperate e-banking precutsand service.

The differentiation of customer was made on the basis of size ofthe bank branch i.e., small, medium, and large further single verses multiproduct purchases was taken is not consideration. The study formed fourhypothesis where hypothesis 1 shows significant difference in 2006 loyaltysurvey between customers of small, medium and large banks. Second hypothesiswas based on overall quality rating based on trust renewal and recommendationetc between small, medium and large banks and their respective customers.  Third hypothesis was based on customer’sloyalty between single and multi product index.

Fourth hypothesis is based onoverall quality rating as measured by e-banking system between single and multiproduct bank customers. Statistical tool- MANOVA and t-test were applied to684survey reports in year 2006. It was analyzed that there exist significantand lower rating of loyalty among single and small banking products.Furthermore in the study quality was rated under 5 sub-categories like quality,trust in e-banking system, willingness to review, recommend and expansion.Among these five, three (trust, willingness to recommend and willingness toexpand) were rated significantly lower among small and single product bank ascompared with medium and large multi product banks. Additional qualitycategories of general quality and willingness to renew were not statisticallysignificant between the various bank delineations. These results provide thebasis from which to complete additional research and begin the process ofmaking changes in resource allocation related to optimizing e-banking customercentric business strategies. Aggarwal(1979) has conducted a research about the nationalized banks with specialreference to their social commitments.

The fundamental suggestions made in thestudy were that firstly, branches give more office space in various semi urbanand rural area to capture maximum geographical area. Secondly,  giving more noteworthy credit facilities tothe open as well as to the need and ignored divisions. Thirdly,  contribute in generating and supportingthe  of business activities on nationallevels. lastly,  financing the governmentsecurities and popularizing the charge shape of credit. Abhivarahan Adhivarahan, V.

(2001),”Information Technology Act, 2000 – The Legal Viewpoint” IBA Bulletin, Vol.XXII, No. 12 , Dec. 2001, Indian Banks’ Association (IBA), Mumbai.

Abhivarahan(2001) The researcher in his article studies various provisions and its impactlaid in Information Technology Act 2000. Also researcher tried to focus onvarious implication of the study on functioning of the banks. It was observedthat the banks have numerous incidents of e-fraud and on-line breach of thecontract are on high in number. Therefore there is need of various provisionwhich might curb the cyber crime and all the transaction by the banks must becarefully examined and controlled.

Keeping the above problem in mind theresearcher gave various suggestion to curb and minimize the adverse effect ofthis situation like forming some statutory body like internet fraud centersoperating in USA.