Awareness and Usage Level of Customers towards Internet Banking in Malwa Region of Punjab: An Empirical Study

The present paper is an attempt to study the bank customers’ awareness and usage level towards internet banking. It studies and analyzes the problems faced by them while using it. It also measures customers’ satisfaction level towards internet banking. It also determines the factors influencing them for not using it and suggests the suitable measures for enhancing internet banking. Data is collected through well structured questionnaire from 500 customers of public sector banks and private sector banks working in urban areas, semi-urban areas and rural areas of Malwa region of Punjab. The study concludes that awareness and usable level of internet banking is low in rural and semi- urban areas as compared to urban areas. Consequently, internet banking is more preferred and used by urban customers. Customers of age group below 25 and 25 to 35 years are more inclined towards this service in comparison to customers of age group 35 to 50 years and above 50 years. In the context of satisfaction level, Most of the customers are satisfied with the services of internet banking. Poor internet connectivity/network problem and lack of security are the major problems faced by customers while using internet banking. Lack of knowledge and lack of awareness are the main hurdles influencing them for not using it. Considering these factors, the study also suggests some strategies for promoting internet banking.