Indians for Online and Mobile Banking

The Tech Savvy CEO of ICICI Bank, K V Kamath, must be credited for the e-revolution in the Indian banking Industry. Recent reports suggest that more ICICI Bank consumers were technology savvy by preferring to make transactions on ATM, Internet or Mobile.

Here is an extract of how 100 Transactions of the bank happen. Branch Transactions saw decline from 94 in 2000 to just 22 in 2006. ATM Transactions which were mere 3 in 2000 saw an increase to 46 in 2006. Internet transactions grew from 2 in 2000 to 18 in 2006 while Call Centre and Mobile Transactions went up from 1 in 2000 to 14 in 2006.

Similar trends were observed in HDFC Bank too. Internet transactions rose from 3% to 16% and 40% of the internet transactions happen between non-banking hours in between 6:00PM and 8:00PM.

With Inputs from BL Feb-24th

Author: Webmaster