Alyas Ahmed

Research Scholar, Department of Management and Commerce

Maulana Azad National Urdu University-32

 

Mohd Mushtaq

Researcher Sholar, Department of Education and Training

Maulana Azad National Urdu University-32

Abstract:

The banking industry is the backbone of the Indian economy. Banks provide financial assistance to individuals and Institutions. This study explores the elaborate framework of internet banking’s effects on Jammu and Kashmir’s student population. The study examines students’ perceptions of satisfaction and security in the context of online financial transactions. This study provides important insights into the changing financial habits and attitudes of the region’s students through a thorough study of the interactions between the ease of internet banking services and the perceived security measures preserving critical information. In this study the researcher applied quantitative approach under descriptive type of research. The study includes 500 students of Jammu region from different educational background under probability types of sampling.  For the analyses of data, the researchers applied different statistical techniques such as, Frequency, percentage, mean average, standard deviation, correlation and paired sample t-test in this study. Result of the study reveals that a significant positive relationship found between student’s security measurement towards internet banking and satisfaction towards internet banking in Jammu and Kashmir. It can be concluded that the level of security measurement increases, satisfaction towards internet banking also increases significantly. Moreover, it is also found that a significant impact of security measurement towards internet banking and satisfaction towards internet banking among students of Jammu and Kashmir. 

Keywords: – Internet, Satisfaction, Security measurement, Banks, Jammu and Kashmir, Students.

Introduction

Internet banking has become an essential part of the financial system in the modern digital era. In the present era, people are transferring from the traditional banking system and connecting with the modern internet banking system to carry out their financial activities through the use of internet banking. The accessibility and convenience provided by internet banking have drawn a lot of attention to technological advances, especially among the younger generation. Jammu and Kashmir, tucked away in India’s far north, as most of the area is hilly and the majority of people live in rural areas where banking branches are not available. Without a proper banking system, any nation cannot grow. In the current era, due to the rise in demand for banks and their products, the banking industry is adopting the latest technology to provide services easily and successfully. Banks are redefining traditional banking practises and fostering a paradigm shift towards digital financial interactions. This shift is particularly evident in regions like Jammu and Kashmir.  But due to the advancement in internet banking, now people in far-flung areas can also avail themselves of the services through internet banking. As the primary focus of this paper is to understand the behaviour of students towards internet banking, and also to determine the way in which the students in Jammu and Kashmir perceive both the satisfaction and security associated with online banking. Further, the aim of this research paper is to provide a comprehensive understanding of how the use of internet banking is influencing the financial behaviours and attitudes of the student community in this area by examining the intricate connection between the satisfaction derived from the convenience of online banking services and the perceived security measures that safeguard sensitive information.

It is interesting that Jammu and Kashmir has a unique anthropological backdrop that is distinguished by its rich heritage, geographic variety, and particular challenges. This study has the potential to provide useful insights for the banking sector as well as academia, directing the creation of plans to improve user experiences while addressing security issues. An in-depth examination of the students’ satisfaction with and security perceptions of online banking in Jammu and Kashmir holds potential for influencing the course of digital banking services in the area and beyond as technology continues to impact the future of financial interactions.

Safety precautions for internet banking are essential for protecting confidential monetary information and sustaining the security of the internet. Banks have a variety of approaches and deploy many tactics to reduce risks and improve user safety. Encryption, a vital element, uses protocols like SSL and TLS to encrypt data transmission between users and the banking server, preventing unauthorised access and data interception. By forcing users to supply extra credentials in addition to their passwords, two-factor authentication (2FA) and multi-factor authentication (MFA) strengthen account access. Robust password requirements are imposed by secure password rules, lowering vulnerability to brute-force assaults. Users are made aware of fake emails and websites by anti-phishing strategies, and continuing protection is provided by regular security audits that find deficits.

In nutshell, the rise of internet banking has changed how people interact with banking services in the modern financial sector. The revolutionary potential of online banking has been used to address the different geographical and socioeconomic obstacles faced by Jammu and Kashmir, spanning accessibility gaps and reaching even remote areas. This study highlights the growing impact of technology in influencing financial behaviours by revealing students’ perceptions of satisfaction and safety in this digital environment. The information acquired helps the banking industry, academics, and the continued improvement of digital banking practises. An in-depth understanding of internet banking’s effects is essential to guiding safer and more beneficial financial institutions in the area and beyond as technology continues to influence how people interact with finance.

Review of related studies

(A. Meharaj Banu, 2019). Conducted a study on “Online Banking and Customer Satisfaction: Evidence from India” Asia-pacific Journal of Management research and Innovation. The main aim of the research was to analyze the satisfaction of customers towards online banking in India. The research collected the data from 500 respondents and analyzed. The researcher used the technology acceptance model (TAM) of Davis (1986) & DTPB. Taylor and Todd (1995). It is found that when the customers are aware about the internet banking, they avail more services the second result shows contrary to expectations, the perceived utility of online banking is unrelated to the security and accessibility of Internet connection. hird, the perceived benefit of online banking services is significantly influenced by self-efficacy, simplicity of use, cost savings, and time savings. Hence it is clear that banks customers are partly associated witht the internet banking.

 

(R, 2019) “a study on customer satisfaction towards internet banking services in thoothukudi city” The researcher focused on Socio-economic factor of the respondents, Satisfaction level of customers towards internet banking, problems faced b, problems faced by the respondents and further the researcher provides the suggestions and recommendations. The researcher found that there is no significance difference between the gender and level of satisfaction of respondents towards the services provided by the internet banking.the researcher also found that the customers are facing lot of problem which availing banking services online the major problem is low internet connection, Connection lost while transaction and Lost of password. The researcher suggested that that RBI should make good policies related to the online banking and also the banks should conduct customers awareness programs towards banking.

(B. Raghavendra, 2016). Conducted a study on the Topic Customers Satisfaction towards Internet Banking Services. The researcher selected 248 customers for the study. The main aim of this research was to understanding about the satisfaction of customers to wards banking internet services. After using the ANOVA the researcher found that that there is moderate significant difference in mean scores of customer satisfaction between male and female customers. The study concludes Customer happiness is impacted by functionality, website design, and user-friendliness relating to the online banking services offered by the Public and Private sector banks. Customer satisfaction with internet banking services is significantly influenced by the clients’ gender, age, education, and income levels. Work and marital status have no impact on satisfaction. Regardless of the gender and age of the customers, banks must modify their products and services.

(Vimala, 2016). Conducted a study on the topic “An Evaluative Study on Internet Banking Security among Selected Indian Bank Customers” The objective of the research is customer awareness and expectation towards internet security, Problems faced by the respondents while using internet banking and to understand the effects of the selected customers in Coimbatore’s s’ use of online banking & security. The size of sample is 50. It is found that 18% of participants had been notified by their bankers, whereas 32% of the consumers found about security risks in Internet banking through advertisements. The researcher suggested that customers should learn about their privacy through different mediums.

(Amith Kumar Reddy, 2021)In this study “Impact of E-banking on Customer Satisfaction”, have summarized. This article aims to investigate consumer satisfaction in online banking and assess the effects of the various online banking services used by Indian banks. This study employs a quantitative methodology, and SEM and AMOs are utilized to assess the data that was gathered. When compared to their semi-urban and urban peers, the utility of e-banking services is considerably less for bank customers in rural areas. It has been discovered that “time saving and less cost” can impact bank customers’ intentions to use the internet banking site in the future. Respondents from rural, semi-urban, and urban areas saw e-banking as simple, easy to use, and a decent alternative to traditional banking, although they thought using new technologies like internet banking was complicated and tough. Internet banking is crucial for bank customers’ current and future growth, and how crucial it is to those customer’ development depends significantly on their age, level of education, occupation, and income. It is further recommended to broaden the research to learn different strategies for boosting the dependability of E-banking services in the Middle East.

(Ahmad, 2004)This study aims to examine how self-image congruence affects brand preference and satisfaction among customers who use and don’t use based on technology self-services in the retail banking industry. According to the study’s findings, self-image congruence is not related to satisfaction in the case those who utilise self-service technologies. Contrarily, non-users of self-service technology showed a positive correlation between their satisfaction with the service provider and their self-image congruence. This suggests that self-service technology users and non-users differ in how their self-images relate to their degrees of satisfaction. In conclusion the study has shown that even after encountering unsatisfactory events when using self-service technology, clients still favor the same service provider.

(Dr.Kiran.G, 2020). In the the study analysed customer satisfaction towards online banking services with public sector banks in’ Tiruchirappalli district, From this study, it is clear that bank websites and technological platforms must provide a variety of knowledge features on financial services. Banks must regularly survey customers to gauge their satisfaction if they want to keep their current clients. According to the study’s findings, the top three elements affecting customer satisfaction are rapid response, security, website design, and easy to use. Further the researcher suggested that banks should Design their website simple and easy to use. In order to attract the new customers and retain the existing customers.

(Worku G, 2016) (Impact of Electronic Banking on Customers Satisfaction in European Banking Industry) provided an overview of their findings. The situation involves customers of the banks Dashin and Wogagen in Gondar. In this paper, an effort is made to understand how customer happiness compares to traditional forms of banking and how personal characteristics of clients, such as age and occupation, affect branch visits and potential and problems with online banking. To calculate consumer satisfaction in online banking, this study used tables and percentages, the chi-square independence test, the independent t-test, and regression analysis. This study revealed that younger people, students, educated people, and businesspeople are satisfied with online banking. Hence it is proved that internet banking has significant impact on the customer’s satisfaction.

(Jyotsna Sharma, 2022). The title of present study is “The effect of customer satisfaction on the quality of the E-Banking service.” The present research seeks to determine how the quality of the services provided by e-banking services affects consumer satisfaction. The Customer satisfaction in online banking has been measured using sampling techniques. According to this study, important factors like responsiveness, security, and communication effect on satisfaction of customers with e-banking services. It is advised to conduct more research to determine how to measure and enhance the quality of e-banking services. In short, this study drew attention to the impact of service quality on client happiness. If a customer is happy with the usage of the current services, he or she is likely to utilize them repeatedly. Thus, it can be deduced from the study’s findings that consumer satisfaction with E-Banking services is influenced by tangibility, credibility, responsiveness, security, and communication.

(Sadaf Firdous, 2016) This study is conducted in Delhi. The title of the paper is “Impact of Internet Banking Service Quality on Customer Satisfaction” The main objectives of the research is to identify the various dimensions of internet banking service quality, to study the relationship between the customer satisfaction and the various internet banking service quality dimensions and to study the impact of the internet banking service quality dimensions on the satisfaction of customers. Total no of samples taken for this study is 194. To analyze this study the researcher used co-relation and it is found that the various relationships that exist between various service quality dimensions and customer satisfaction in internet banking. The researcher further used regression and found that internet banking service quality does have an impact on the customer satisfaction in internet banking in New Delhi. Hence from the both results it is clear that the services dimensions of services quality have various relationships exist and also have impact on satisfaction.

Significance of the study

Internet banking involves the transfer of sensitive financial information, making security a crucial aspect. By understanding their concerns and perceptions, banks can identify areas of improvement and enhance security protocols to protect student customers from potential cyber threats and fraudulent activities. User satisfaction is also key factor for the success of internet banking services. By investigating students’ satisfaction levels with internet banking, Banks can utilize these findings to improve their services, user interfaces, and overall customer satisfaction, leading to increased usage and loyalty among student customers. This study provides insights into students’ perceptions of security measures implemented by banks in Jammu and Kashmir.  In this essence trust and confidence are essential for the widespread adoption of internet banking services. By addressing security concerns and enhancing user satisfaction, this study can contribute to building trust and confidence among students in Jammu and Kashmir towards internet banking. Increased trust can encourage more students to adopt and utilize internet banking services, leading to greater financial inclusion and convenience. Policymakers can utilize this information to develop regulations and guidelines that ensure the safety and satisfaction of student customers. This can promote a secure and reliable internet banking ecosystem, benefitting both students and banks. Being a region with unique geographical and socio-economic challenges, may have specific barriers to internet banking adoption. This study can identify these barriers and provide insights into how they can be addressed, thus helping bridge the digital divide. By making internet banking more accessible and secure for students in Jammu and Kashmir, this study can contribute to financial inclusion and empowerment. The significance of this study lies in its potential to enhance security measures, improve user satisfaction, promote trust and confidence, inform policy and regulations, and bridge the digital divide in internet banking services among students in Jammu and Kashmir. By addressing these aspects, the study can contribute to the growth and development of a secure and user-friendly internet banking environment, benefiting both students and the banking sector.

Statement of the problems

The purpose of present study is to explore the knowledge and awareness of internet banking among students at all the level from secondary to higher education level. Hence the study felt need under investigation as entitled as, “Security measurement and satisfactions towards internet banking among students in Jammu and Kashmir”.

Objectives 

1. To study the level of security measurement towards internet banking among students of Jammu and Kashmir.
2. To study the level of satisfactions towards internet banking among students of Jammu and Kashmir.
3. To know the relationship between security measurement and satisfactions towards internet banking among students in Jammu and Kashmir
4. To study the impact of security measurement on satisfactions towards internet banking among students in Jammu and Kashmir.

Hypothesis

H01 there exist no significant relationship between security measurement and satisfactions towards internet banking among students in Jammu and Kashmir

H02 There exist no significant impact of security measurement on satisfactions towards internet banking among students in Jammu and Kashmir.

Methodology

In this study, the researcher used the survey method under the descriptive type of research to analyse the level, impact, and relationship of security measurement and satisfactions towards internet banking among students in Jammu and Kashmir This study includes the primary source of data for analyzing the security measurement of satisfaction with Internet banking among students in Jammu and Kashmir. The study includes all the students of higher education, such as UG, PG, and PhD-level students, as a population. The area of the study is only confined to Jammu and Kashmir. In this study, 500 students are selected as a sampling under simple random sampling techniques of probability sampling. For the collection of data, the researchers used self-developed scales such as security measurement towards internet banking and students’ satisfactions towards internet banking for the study. For the analysis of the data, the researcher used some statistical techniques such as, mean average, standard deviation, Pearson product moment correlation, and paired sample t test for the present study. The researcher collected data for the study using an online mode as well as a Google form.

Result and Discussion

1. To study the level of security measurement towards internet banking among students of Jammu and Kashmir.

For the objective first the researcher applied range, frequency and percentage. Table 1.1 shows that the level of security measurement towards internet banking among students of Jammu and Kashmir.

Variable	Levels	Range	Frequency	Percentage
Security measurementtowards internet banking	High	Above 61	190	38%
	Average	40-60	255	51%
	Low	Below 40	55	11%
	Total		500	100%

The above table 1.1 reveals the range, frequency, and percentage of security measurement towards internet banking among students in Jammu and Kashmir. Out of 500 students, 190 students (38%) have a high level of security measurement towards internet banking, 255 students (51%) have an average level of security measurement towards internet banking, and 55 students (11%) have a low level of security measurement towards internet banking. Based on the above result, it can be concluded that the majority of the students are showing an average level of security measurement towards internet banking in Jammu and Kashmir.

Further, the result indicates that a significant portion of students in Jammu and Kashmir are aware of and prioritise security measures while using internet banking services. The high percentage of students with an average level of security measurement suggests that they have a basic understanding of security measures but may benefit from further education or awareness to enhance their security practises. The relatively low percentage of students reporting a low level of security measurement is encouraging, as it suggests that a small proportion of students are not effectively arranging security when using internet banking.

However, it is still important to address the needs of these students and provide them with the necessary resources and education to improve their security practises. Overall, the findings highlight the importance of promoting and maintaining strong security measures in internet banking services. Banks and financial institutions should continue to educate and raise awareness among students about the significance of security and provide clear guidelines and tools to ensure safe and secure online banking experiences.

• To study the level of satisfactions towards internet banking among students of Jammu and Kashmir.

For obtaining the result from objective 2^nd the researcher applied range, frequency and percentage as a statistical technique in the below table 1.2. 

Variable	Levels	Range	Frequency	Percentage
Students Satisfactions towards internet banking	High	Above 61	255	51%
	Average	40-60	220	44%
	Low	Below 40	25	5%
	Total		500	100%

The above table 1.2 reveals the range, frequency, and percentage of satisfaction towards internet banking among students in Jammu and Kashmir. Out of 500 students, 255 students (51%) have a high level of satisfaction towards internet banking, 220 students (44%) have an average level of satisfaction towards internet banking, and 25 students (5%) have a low level of satisfaction towards internet banking. From the above result, it can be concluded that the majority of the students are showing a high level of security measurement towards internet banking in Jammu and Kashmir.

This indicates that a significant proportion of students in Jammu and Kashmir are satisfied with their internet banking experiences. The high percentage of students with a high level of satisfaction suggests that they find internet banking services to be reliable, convenient, and meet their needs. The relatively low percentage of students reporting a low level of satisfaction is positive, as it indicates that a small proportion of students are dissatisfied with their internet banking experiences. However, it is important to address the concerns of these students and identify the factors contributing to their low satisfaction. Banks and financial institutions should focus on improving the areas that are leading to dissatisfaction among this group of students.

Moreover, the findings highlight the overall positive satisfaction levels among students towards internet banking in Jammu and Kashmir. This suggests that internet banking services are meeting the expectations and needs of the majority of students. However, it is important for banks to continue monitoring and improving their services to ensure sustained high levels of satisfaction. Overall, the study indicates that students in Jammu and Kashmir have a high level of satisfaction with internet banking. This positive perception of internet banking services can contribute to increased adoption and usage among students, promoting financial inclusion and convenience in the region.

• To know the relationship between security measurement and satisfactions towards internet banking among students in Jammu and Kashmir.

To test the null hypothesis “there exist no significant relationship between security measurement and satisfactions towards internet banking among students in Jammu and Kashmir”. The researcher applied Pearson product moment correlation for analyzing the below data in the table 1.3

Variables	N	M	SD	‘r’ Value	Remarks
Security measurement towards internet banking	500	61.29	7.56	0.109	Positive Co-relation
Satisfactions towards internet banking	500	63.19	6.78

The above table 1.3 reveals the relationship between security measurement and satisfactions towards internet banking among students in Jammu and Kashmir. The above table reveals that the mean average of security measurement towards internet banking is 61.29 and the standard deviation is 7.56, and the mean average and standard deviation of satisfactions towards internet banking are 63.19 and 6.78, respectively. The ‘r’ value of both variables, such as security measurement towards internet banking and satisfactions towards internet banking, is 0.109. From the above table, it can be concluded that there is a positive association between the security measurement towards internet banking and satisfactions towards internet banking in Jammu and Kashmir. So therefore, the null hypothesis “there exists no significant relationship between the security measurement and satisfactions towards internet banking among students in Jammu and Kashmir” is rejected.

The findings of the study imply that students who prioritise security measures and have a higher level of security measurement towards internet banking are more likely to experience higher levels of satisfaction with their internet banking services in Jammu and Kashmir. Overall, the study suggests that a positive association exists between security measurement and satisfaction towards internet banking among students in Jammu and Kashmir. Banks and financial institutions should continue to emphasise the importance of security measures to enhance satisfaction levels among students and promote a secure and reliable internet banking environment.

• To study the impact of security measurement on satisfactions towards internet banking among students in Jammu and Kashmir.

To test the null hypothesis “there exist no significant impact of security measurement on satisfactions towards internet banking among students in Jammu and Kashmir”. The researcher applied paired sample t test for analyzing impact of below data shown in the table 1.4

Variable	N	Mean	S. D	Df	‘r’Value	‘t’value	‘p’value	Remarks
Security measurement towards internet banking	500	61.29	7.56	498	.170	8.454	0.00*	Significant at .01 level
Satisfactions towards internet banking	500	63.19	6.78

*Significant at 0.01 level

The above table 1.4 reveals the impact of security measurement on satisfactions towards internet banking among students in Jammu and Kashmir. The mean average of security measurement towards internet banking and satisfactions towards internet banking are 61.29 and 63.19, respectively, and the standard deviation of both variables is 7.56 and 6.78. The ‘r’ value is 1.70, and the t-value is 8.454 with 498 degrees of freedom. Therefore, from the above table, it can be concluded that there is a significant impact of security measurement on satisfactions with internet banking among students in Jammu and Kashmir. So, the null hypothesis “there exists no significant impact of security measurement on satisfactions towards internet banking among students in Jammu and Kashmir” is rejected.

Moreover, the result shows that as the level of security measurement increases, satisfaction towards internet banking also increases significantly. The rejection of the null hypothesis “there exists no significant impact of security measurement on satisfactions towards internet banking among students in Jammu and Kashmir” suggests that security measurement does have a significant impact on satisfaction towards internet banking among students in Jammu and Kashmir.

Overall, the study highlights the importance of security measurement in influencing satisfaction levels among students towards internet banking in Jammu and Kashmir. Banks and financial institutions should prioritize and enhance security measures to improve satisfaction and provide a secure and reliable internet banking experience for students.

Conclusion

The present study aims to explore the level and relationship of security measurement and satisfaction towards internet banking among students in Jammu and Kashmir. In this study, the researcher also explores the impact of security measurement on satisfaction towards internet banking among students in Jammu and Kashmir. Based on the above result, it can be concluded that the majority of the students are showing an average level of security measurement towards internet banking in Jammu and Kashmir.

Additionally, the researcher finds out that the majority of the students are showing a high level of security measurement towards internet banking in Jammu and Kashmir. The researcher found a positive association between security measurement and satisfaction towards internet banking among students in Jammu and Kashmir. Furthermore, the researcher highlights the importance of security measurement in influencing satisfaction levels among students towards internet banking in Jammu and Kashmir.

However, the results of this study emphasise the importance of security measurement in influencing satisfaction levels among students towards internet banking. It underscores the need for banks and financial institutions to prioritize and enhance security measures to ensure a safe and reliable internet banking environment for students in Jammu and Kashmir. Overall, the conclusion of the study reveals a significant positive relationship between security measurement and satisfaction towards internet banking among students in Jammu and Kashmir. As traditional banking infrastructure faces limitations in such areas, internet banking emerges as a pivotal solution, providing accessibility and convenience even to populations in remote areas. In a nutshell, this study is focusing on Satisfaction with internet banking and security measures among the students. The study applies rigorous statistical methods to find out the impact of internet banking on students.

References

A. Meharaj Banu, N. S. (2019, Online Banking and Customer Satisfaction: Evidence from India Asia-Pacific Journal of Management Research and Innovation). Online Banking and Customer Satisfaction: Evidence from India. Asia-Pacific Journal of Management Research and Innovation, 15(1-2).

Ahmad, J. (2004). Retail Banking and Customer Behaviour: A Study of Self Concept, Satisfaction and Technology Usage. The International Review of Retail, Distribution and Consumer Research, 14(3), 357-379.

Amith Kumar Reddy, M. B. (2021). IMPACT OF E-BANKING ON CUSTOMER SATISFACTION. PALARCH’S JOURNAL OF ARCHAEOLOGY OF EGYPT/EGYPTOLOGY, 18(08).

B. Raghavendra, P. S. (2016, September ). Customers Satisfaction towards Internet. International Journal of Management and Commerce Innovations, 4(1), 491-498.

Dr. Kiran.G, D. A. (2020, April). Customers Satisfaction Towards Online Banking Services Of Public Sector Banks. International Journal of Scientific & Technology Research, 9(4).

Jyotsna Sharma, J. S. (2022, January). Impact of E-Banking Service Quality on Customer Satisfaction. International Journal of Recent Technology and Engineering (IJRTE), 8(5).

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Sadaf Firdous, R. F. (2016). Impact of Internet Banking Service Quality on Customer Satisfaction. Journal of Internet Banking and Commerce.

Vimala, V. (2016, 5). An Evaluative Study on Internet Banking Security among. Amity Journal of Management Research, 1(1), 63-79.

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