Transformation is a dynamic processes during which all known tenors undergo metamorphosis. It is a fluid state with an uncertain outcome. Due to its fluidity, it is difficult to determine its course. The significant transformation of the banking industry in India is clearly evident from changes that have occurred in the financial markets, institutions and products. These developments have facilitated greater choice for consumers, who have ...become more demanding and thus, compelling the banks to offer a broader range of products through diverse distribution channels. New private sector banks and foreign banks have leveraged the internet effectively and are expected to take away the customers from public sector banks thereby increasing their revenue potential. Thus, a serious threat of inequality between the public and private sector banks may creep in the years to come, if not the days.
There are some glaring differences between the public and private or foreign sector banks operative in India. Firstly, the public sector banks are bearing the burden of mounting non-performing assets. Hence, it won’t be an easy task for the public sector banks to immediately adopt all the e-banking measures that are adopted by the new private or foreign banks. Further, in context of the reach towards the masses, public sector banks have more branches than the private of foreign banks. Not only this, branches of public sector banks operative in rural areas face another challenge of mass illiteracy and non availability of internet connectivity along with highly intervallic power supply. Since, private and foreign banks, by and large, open their branches in urban, hence their chances to outstrip the public sector banks stand bright. Besides, trade unions which are quite strong in case of public sector banks are also obstructing the introduction of rampant use of e-banking channels. Keeping in mind these factors, it becomes obvious that private and foreign banks may out show the public sector banks but lack of confidence of people in private and foreign banks is ruining all their hopes. Precisely, when it comes to the confidence of the consumers, they are still hopeful that trusted and safe banking can only be imparted through public sector banks. Private and foreign sector banks are yet to gain the confidence of Indian consumers by opening more and more branches (particularly in the rural areas) along with the use of e-banking channels. Besides, it has often been reported that excessive attrition rate in private sector banks is not letting the loyalty develop between the bankers and customers. Contrary, staff in the public sector banks once appointed continues to serve the customers for a long period of time. Thus, the pros and cons on both the sides (public and private or foreign banks) may not let the banking business get skewed.
In addition to this, also it needs to be determined if the use of e-banking is bringing any change in the productivity and profitability of banks or not. Since the use of e-banking channels is an expensive proposition for the banks, its effect (in terms of productivity and profitability) on different types of banks, may it be ordinary public sector banks, merged public sector banks, old private sector banks, new private sector banks and foreign banks need to be analyzed properly. Furthermore, the factors which are responsible for transformation towards e-banking are also required to be identified so that bare minimum e-banking services may be offered by all types of banks to sustain in this era of cut throat competition. Thus, it calls for a 360 degree analysis to gauge the usage of e-banking services in the banking sector. The present study is an attempt in this direction. We have endeavored to find out the factors that are responsible for changing the manual banking systems towards e-banking, the impact of e-services on productivity and profitability of banks, customers and employees perceptions towards e-banking and the challenges that e-delivery channels are facing. The present book analysis’s how bank transformation is taking place in all types banks with e-delivery channels.
This Encyclopedia is very useful not only for the banking people or banking regulators but for all the finance teachers, academicians, researchers and all those who are even curious about banking area studies. In the part - B many research papers have included related to e-delivery channels.
Prof Rajinder Kumar Uppal, Ph.D., D.Litt., Professor Emeritus a prolific writer, an outstanding academician and the more ingenious guide has won accolades not only in the academic field but also in the genre of research. Presently, he is serving as an professor of economics at Baba Farid College of Management and Technology, Bathinda (Punjab) and Principal Investigator of a UGC-Funded Major Research Project on Indian Banking. As a matter of fact, his research fervor and academic zeal primarily focuses upon banking and finance. He heralded a new era of globally competitive Indian banking system. He authored/edited seventy three books and since 2014 some of his books earned global recognition. He was instrumental in suggesting the reforms in e-technology. His prodigious research talent gave him leverage to write as many as two seventy five research papers on banking and finance. He presented seventy two research papers in different national and international conferences. His claim as a researcher was never unfounded as eight of his research papers were lauded at different international conferences held at Hawaii, Indonesia, Finland, Costa-Rica, Australia, London and Pakistan respectively. His insatiable craving for research got stimulus under the aegis of UGC and HRD. As many as seven major post-doctorate research projects were funded by UGC, ICSSR and HRD, New Delhi. He reciprocated successfully and harnessed his research skill with incredible finesse and ease. His able guidance inspired even many young teachers to wade into the ocean of research and he produced sixty two M.Phil and eight Ph.D in this process. Although, it is not possible to circumscribe his comprehensive achievements into a finite space, yet the pile of his degrees and awards speaks volumes of his marvelous eruditeness. His services were acknowledged at different forums from time to time. He was even awarded Honorary D.Litt by reputed Business University, Costa Rica in 2014. International Peace University awarded honorary D.Litt 2019 and Nelson Mandela University, USA also awarded Doctor of Letters to Dr. Uppal. International Peace University, USA and University of South America also awarded honorary D.Litt. International Journal; Pune conferred the Best Reviewer Award on him. His monumental work encouraged various national organizations to honor such an inclusive academic stalwart with Jewel of India Award, Best Educationist Award, Shatiya Shiromani Purskar, Pride of India Award and Excellent Research Award by PCMA respectively. This colossal figure earned Life Time Achievement Award from Dashmesh Girls College, Badal for his exemplarily service to the cause of education. Deputy speaker, Punjab assembly, S. Ajab Singh Bhatti also awarded Life time Achievement award. Malout administration honored Dr. Uppal during 71th R-Public Day celebration due to unparallel contribution in the field of higher education and quality research. Nelson Mandela University Awarded International Dr. Abudal Kalam Best Economist Innovative Award for the year 2019. He was also awarded Eminence Social Scientist Award by Deshmesh Girls College, Badal. He was also honored during jagat guru shri Guru Nanak Dev Ji birthday (550) Celebration. His name is also selected for Amity Excellence Award for the Best Academic Author in the area of Banking Academic to be conferred during INBUSH ERA 2020.
He is presently working in advisory board of editors in national and international reputed research journals. While serving as chief-in- editor of reputed research journal he explored his worth in other areas as well. He wrote as many as fifty articles for leading Indian Newspapers on current social and economic issues. He was invited for expert talks on the relevant issues by various govt. and private TV Channels and All India Radio, Jalandher. He designed syllabi of UGC job oriented courses such as e-banking and e-commerce from Certificate level upto advance Diploma. He also mentors young teachers to yield quality research under faculty development programme. He has signed a MOU with Desh Bhagat University to organize seminars/conferences on burning issues. His academic and research works holds promise for his society as his plea of merger of banks eight years back has been implemented by the present Indian dispensation. He has also submitted his D.Litt thesis on the very burning topic, “Managing Transformation in Indian banks Through E-Delivery Channels- Challenges and Opportunities” in Utkal University, Bhubaneswar, Orissa, India in 2016. He desires to restructure and revolutionize Indian banking Industry by linking it with e-technology thereby ushering a new era of competitive banking system nor only at home but also at abroad. For him, research is a never-ending process. The loss of human resources due to cancer has again caused a stir in his indefatigable research mind and he has embarked on a new project i.e An empirical Study of “Loss of Human Resources with the Extensive Penetration of Cancer in the Malwa Belt of Punjab and its Future Perspectives.” Infact, he is an asset for the society. His works and publications amply bore the insignia of his academic pedestal in a short span of time.