Customers Perspective On Mobile Banking During Covid Lockdown Period: A Study Of District Kapurthala

The access to mobile technology has given an impetus to the banking sector with overall advancement and increase in financial transactions. .With the motto of any time, any where and by any mode, spread of financial products of banks is markedly seen in the market. Banking services can be provided very fast and interactively in mobile banking. In this era, Technology has proved its contribution in today’s business world, which leads to the largest and fastest growth indicator in an economy. Mobile banking is among those indicators which promotes banking and financial sector. The role of technology is changing, the already developed traditional mindset of people. The periphery of transactions are changing rapidly day to day, which gives many opportunities to all banking and financial institutions to enhance their services package offered to customers. Mobile banking service helps the user to handle their sensitive as well as daily routine chores in an efficient and confidential way. Mobile banking doesn’t restrict a customer to stick at one place, region/area. Over the years, financial institutions and banks are always curious to increase the facilities to the customers to fascinate them. This paper examines the awareness of inhabitants of Kapurthala, District Kapurthala regarding the awareness of mobile banking.


Introduction
The COVID-19 , a deadly disease, named as pandemic drives the marketing of banking industry into acceptance of the usage of digital platform. Users are, during this period, believed to use online or mobile banking possibilities or non-branch banking facilities. The financial institutions that have digitally transformed themselves are expected to be benefited from this behavioral shift. Mobile banking may be defined as to perform banking transactions or any other monetary transaction by sitting at any place, anytime, not necessarily face to face but wireless communication, using a device equipped with smart features and smart services. Cashless transaction is the name given to mobile banking; apparently, it is other side of the coin. Cashless transactions are welcomed by banks, financial institutions and customers as well. Use of Debit/ credit card or any electronic payment method is the feature of cashless transaction. The adoption reason reveals that customer feel secure and free while paying off his dues, installments, bills (electricity, phone, water etc.) , along with the regular and continuous connectivity with their bank accounts and the foremost reason to be tension free from carrying cash in the pocket. There are various reasons to adopt cashless banking like: 1. Quick and definite transaction with confirmation, saving of time, no long queue, no face to face interaction with bank staff. 2. It saves transportation cost to visit the branch and results a spark of zeal to avail this facility more. 3. Minimize the visits to ATMs and to operate it. 4. Cashless banking controls the transactions which results in formation of black money, hoarders. 5. Customers get a transparent view PSYCHOLOGY AND EDUCATION (2020) 57(9): 6055-6065 ISSN: 00333077 6056 www.psychologyandeducation.net and a confirmed record of their transactions which results a feeling of trust and bonding between the bank and customer.

Benefits Of Mobile Banking
The recent COVID-19 situation has made it imperative that the banking institutions must devise the mechanism to act beyond the fundamentals of providing digital banking solutions. This can be achieved with the immense emphasis on user friendly interface, exponential strategy to harness the customer base which cannot access the physical branches and improving back-office functionality. This will provide a thrust to the unified incorporation of personalized touch to digital banking operations. There is necessity of paradigm shift in such a way digital banking services are transformed and provided to end users. This can enhance the revenues as it will decrease the cost. Following benefits are enlisted with regard to the banking: 1.

Increase electronic transmission occurrence:
Consumers using electronic transmission media are amenable to a greater occurrence and regularity of electronically communication from their financial institution. Generally informed by email, messages, videos and collective tools.

2.
Provide guidance on financial matters: The preliminary information on borrowings and savings will bring awareness to the customers.

3.
Emphasize fee surrender and refunds: Though consumers which are highly engaged in electronic transmission media are fewer fees sensitive, this may be the outcome of fee waivers and repay that are offered this segment. These benefits are used to switch less electronically engaged consumers.

4.
Allows self-service selections: The progressive customers desire a free hand enabled digital platform to fix the issue than approaching banks for the same. Therefore, the banking institutions should aim at the branch dependent customers to make them more equipped and satisfied Mobile banking is assumed to be the biggest and revolutionary effort of the modern era. It has explored many opportunities and various ways to satisfy the needs of the customers and to enhance the working conditions of the banks and financial institutions. Mobile banking has transformed the whole dealing between the buyer and seller. Seller needs not to go door to door to sell his services/products and buyer needs not to go place to place to buy the service /product and moreover to keep cash in the pocket which attracts the chances of theft and risk of life of the buyer. Mobile banking updates the customers 24*7 whenever any transaction takes place in the bank account. Regular and transparent transaction record provided by banks fascinates the customer in this uncertain world and it is the foremost requirement of the user.

Demographic Profile Of Kapurthala District
As per the Census 2011, Kapurthala District is one of the smallest districts of Punjab in terms of area and population. The Kapurthala lies between north latitude 31° 07' and 31° 22' and east longitude 75° 36'. In the north it is bound by Hoshiarpur, Gurdaspur, and Amritsar districts, in the west by Amritsar, TarnTaran districts and the Beas River and in south it is surrounded by the Jalandhar district.  Kapurthala district ranks 14th in area and 14th in population.  Kapurthala is the most populous and Bhulath is the least populous tahsil.  The average population size of a village in the district (870) is lower than that of the State (1,425). Hamira (7,727) in Kapurthala Tahsil is the largest village by population size followed by Talwandi Chaudharian(7,217) in Sultanpur Lodhi Tahsil.  4 villages in the district are large sized with a population of 5,000 or more.  The decadal population growth rate in the district (8.0%) is lower than that of the state average (13.9%).  Kapurthala district is less urbanized (34.7%) while the State is more urbanized (37.5%).  The sex ratio in the district (912) is higher than the State (895). It ranks 5th among the districts in the State.  The child sex ratio in the district (871) is higher than the state child sex ratio (846). It ranks 3rd among the districts in the State.  Literacy rate of Kapurthala is more (79.1%) as compared to State (75.8%).

Literature Review
• Ahmed Sohel S.M, Rayhan Shah Johir, Islam Ariful md, 2012, "Problem and Prospect of Mobile Banking in Bangladesh", the paper pick out the trouble and prospects of mobile banking in Bangladesh. The benefits of mobile banking for customers and bank are also a part of this study. This paper detects the difficulty related to mobile banking and composes suggestions on the basis of outcomes in Bangladesh. • Ratten Vanessa, 2012, "Entrepreneurship E-Finance and Mobile Banking", focuses on the role of entrepreneurship and E-finance. It measures a person's perspective on the role of both, to adopt M-banking. It also determines responsiveness and understanding of M-banking and marketing. This paper focuses on the adoption intention of mobile banking through role of entrepreneurship and efinance. In this paper, the approach adopted is to develop a conceptual framework. The people's entrepreneurial fondness and learning tendency determine their knowledge about mobile banking is the main finding of this paper. • Sudhakara A.M, Moorthy Suryanarayan M.R, 2011, "Emerging Mobile Banking Scenario and its Adoption in India: A Study", explains the trends and security of M-banking, its quality, and the services provided by bank. It focuses on M-Banking guidelines given by RBI too. The study emphasis on data security and standards of Mobile Banking along with its implication on banking sector in India and other countries. To increase the profits, public sector also adopted this new technology and moreover to reach out to customer better. But, banks should make certain area of privacy of information and its protection by adopting most modern technology. Only then Banks can magnetize its maximum customers to use mobile banking which in turn provides the chances of increase in continuity in business and profits by using latest technology. • Singh Preeti, Bamoriya Sharma Prerna, 2011 "Issues and Challenges in Mobile Banking in India: A Customer's Perspective", identifies challenges of m-banking in India. Certain issues related to banks , customerization, mobile handset operability, safety /privacy, service standardization, download and install application software and telecom services quality are identified. Due to availability of different variety of handsets, its operability is an important concern in using mobile banking. Not only this, security and privacy are another serious issues for customers while using Mobile banking. suggests the measures to bring awareness of using mobile banking in rural areas too.

. Research Methodology
An exploratory approach has been used by the researcher to explore the awareness and effectiveness of m banking services in Kapurthala District.

Sampilng Design
The target population for the study was any individual of age 18 years or above. The sample was chosen from Kapurthala District. Sample size was taken with 95% confidence level. This research adopted stratified random sampling for the study.

7.2
To evaluate effectiveness of m banking services in improving digital services delivery in major Kapurthala district.

Data Collection
To achieve the research objectives the data was collected mainly through primary sources. For developing a questionnaire, literature review provided the base. A selfdesigned questionnaire based on three and five point Likert scale were distributed to 385 individuals, of which, 350 were retained which were complete in every sense. 35 respondents turned to be incomplete and so the number was deleted from the survey.

Research Tools
Using Descriptive Statistics i.e. mean, standard deviation, skewness kurtosis, chi-square results researcher tries to examine the awareness level of PSYCHOLOGY AND EDUCATION (2020) 57(9): 6055-6065 ISSN: 00333077 6059 www.psychologyandeducation.net m banking services among the citizens of the district and examine the effectiveness of the services. Correlation among effectiveness, efficiency and equity is measured using SPSS software. Reliability analysis is applied to test the scale consistency of factors of the concerned research study.

H1:
The respondents are aware about the mservices of banking services in the Kapurthala district.
H2: The effectiveness of m banking services of Kapurthala district is not significant.

Demographic Profile:
Details of the respondent's profile are provided in The study reveals that majority of respondents belongs 18-30 years of age group (55%), followed by the age group of 31-50( 44%) and 51 and above (.3%). The female composition (31%) of respondents is less than the males (69%). On the basis of qualification possessed by the respondents, the researcher also endeavor to examine the literacy. Study revealed that .02% of the respondents possessed Secondary certificate, while, undergraduate were 32% and 66% were post graduate. in the same way, the monthly income was expedited, which exhibit 43% of respondents come in the category of Up to Rs. 25,000, 48% fall in the range of Rs. 25,000-Rs. 75,000 and 9% belong to the category of Rs. 75,000 and above. This depicts that majority of literate section of society is age group , having moderate income are more inclined towards the m banking practices.

Awareness Level of M-banking services:
To

Efficiency of M-banking in Punjab
The researcher aims to analyze the efficacy of mbanking services in chosen districts of Kapurthala For better understanding efficacy is assessed on the parameters identified through various literature reviews namely Accuracy, Correctness of information Timely Resolution ,Timely response, Customer Participation, Reliability in services, Assurance, Third party involvement, transparency, transaction time, waiting time and clarity of policies. Efficacy is the ability to produce the intended results. Therefore, assessing efficacy in the m-banking services will help to identify.
The mean score as depicted in table 11.3.1 is greater than 1, clearly indicates that Customer feels that there is efficiency of services provided by m Banking the values of skewness and kurtosis also supports the fact. The detail analysis is placed at given Table: Descriptive *. Correlation is significant at the 0.05 level (2-tailed).

Reliability Analysis:
As depicted in table 11.1 the value of Cronbach alpha is more than 0.724 for all 28 statements, which suggest all items, are internally reliable.

Limitation
The study is restricted to Kapurthala area only. There is a further scope to add more research area as mobile banking is playing a prominent role to promote cashless banking. But the question is how far the society has accepted the changes.

Conclusion
Every coin has two sides, same with Mobile banking. But the side which is up considered to be prominent. In present scenario, mobile banking has reserved its place in the market. Due to its pros, many buyers and sellers are fascinated towards it. With the help of mobile banking, financial institutions and banks are in upper platform to perform and provide electronic services to their customers time to time or when demanded by customers. But if certain focus is given to reduce the flaws of mobile banking, one day India can become a cashless economy as a whole and trust can be raised among the people of the country. But for this, awareness plays a vital role. Only awareness brings a revolution in any society. So for the development of the India, strong and stable banking and financial sector must be formed. Only then India can become a self dependent and self sustained economy