NJFPM

COVID-19 Impacts on Indian Economy: A Review

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u00a0Gargi Singh Tanwar, Vishakha Agarwal, Rohan Kandpal, Udit Mamodiya,

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nJanuary 9, 2023 at 10:01 am

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nAbstract

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The COVID-19 pandemic had a great outbreak not only on human lives but also on the economies. Arising economies like India had faced a greater impact of this pandemic because of its poor health infrastructure, poverty, population, and slowing growth rates. The government is taking various decisions to control this pandemic, but nobody knows is these decisions are sufficient or not, as this depend on when the virus is controlled in the country. But to formulate the correct policy and measures to control the economic impact, it is necessary to understand the deep impact of the COVID-19 pandemic on Indian economy.

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Volume :u00a0u00a04 | Issue :u00a0u00a01 | Received :u00a0u00a0April 12, 2021 | Accepted :u00a0u00a0April 26, 2021 | Published :u00a0u00a0May 10, 2021n[if 424 equals=”Regular Issue”][This article belongs to NOLEGEIN Journal of Financial Planning And Management(njfpm)] [/if 424][if 424 equals=”Special Issue”][This article belongs to Special Issue COVID-19 Impacts on Indian Economy: A Review under section in NOLEGEIN Journal of Financial Planning And Management(njfpm)] [/if 424]
Keywords COVID-19, pandemic, outbreak, economies, Indian economy, economic impact, health infrastructure, growth rate

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References

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1. Rani D. Impact of COVID-19 on Indian economy. Management guru. J Manag Res. 2020;2019:16.
2. Khetrapal S, Bhatia R. Impact of COVID-19 pandemic on health system & Sustainable Development Goal 3. Indian J Med Res. 2020;151(5):395–9. doi: 10.4103/ijmr.IJMR_1920_20, PMID 32611910.
3. Dev SM, Sengupta R. COVID-19: impact on the Indian economy. Indira Gandhi Inst Dev Res Mumbai. 2020 April.
4. Kanitkar T. The COVID-19 lockdown in India: impacts on the economy and the power sector. Glob Transit. 2020;2:150–6. doi: 10.1016/j.glt.2020.07.005.
5. Buheji M, da Costa Cunha K, Beka G, Mavrić B, Leandro do Carmo de Souza Y, Souza da Costa Silva S, Hanafi M, Chetia Yein T. The extent of COVID-19 pandemic socio-economic impact on global poverty. a global integrative multidisciplinary review. Am J Econ. 2020;10(4):213–24. doi: 10.5923/j.economics.20201004.02.
6. Kolte A, Mal H, Fulambrikar M, Jagtap A. Impact of price control on pharmaceutical sector with reference to India. Int J Intell Enterpr. 2021;8(1):90–104.
7. Tillin L. Building a national economy: origins of centralized federalism in India. Publ J Fed. 2021;51(2):161–85. doi: 10.1093/publius/pjaa039.
8. Kolte A, Patil A, Mal H. Monetary policy in tough times-case study approach. Int J Intell Enterpr. 2021;8(1):105–22. doi: 10.1504/IJIE.2021.112323.
9. Gopalan HS, Misra A. COVID-19 pandemic and challenges for socio-economic issues, healthcare and national programs in India. Diabetes Metab Syndr Clin Res Rev. 2020.
10. Sahoo P, Ashwani. COVID-19 and Indian economy: impact on growth, manufacturing, trade and MSME sector. Glob Bus Rev. 2020;21(5):1159–83. doi: 10.1177/0972150920945687.
11. Ibn-Mohammed T, Mustapha KB, Godsell JM, Adamu Z, Babatunde KA, Akintade DD, Koh SCL. A critical review of the impacts of COVID-19 on the global economy and ecosystems and opportunities for circular economy strategies. Resour Conserv Recy. 2020, 105169.
12. Brodeur A, Gray DM, Islam A, Bhuiyan S. A literature review of the economics of COVID-19. J Econ Surv. 2021. doi: 10.1111/joes.12423, PMID 34230772.
13. Keshky E, El Sayed M, Basyouni SS, Et al. Sabban, A.M. Front Psychol. 2020. Getting Through COVID-19: The Pandemic’s Impact on the Psychology of Sustainability, Quality of Life, and the Global Economy–A Systematic Review;11:3188.
14. Sengupta S, Jha MK. Social policy, COVID-19 and impoverished migrants: challenges and prospects in locked down India. The Int J Commun Soc Dev. 2020;2(2):152–72. doi: 10.1177/2516602620933715.
15. El Alaoui A. How countries of south mitigate COVID-19: models of Morocco and Kerala, India; 2020.
16. Mamodiya U, Sharma P. Review in controlling analysis of injection molding machine. Int J Eng Res Technol. June 2014;3(6).
17. Mamodiya U, Sharma P. Review in industrial automation. IOSR JEEE (IOSR-JEEE). May–June 2014;9(3):33–8. doi: 10.9790/1676–09343338.
18. Mamodiya U, Tiwari N. Design, implementation & performance analysis of solar tracking system on Simulink platform. IOP Conf S Mater Sci Eng;988(1), 012118.
19. Mamodiya U, Tiwari N. The performance enhancing technique analysis for automatic tracking tilt angle optimization of the solar panel with soft-computing process. Int J Adv Sci Technol. 2020;29(10S):3587–601.
20. Mamodiya U, Tiwari N. Investigation of SPV power plant with Dual Axis sun tracker. Test Eng Manag. November–December 2019;81:2621–6. 21. Purohit D, Singh G, Mamodiya U. A review paper on solar energy system. Int J Eng Res Gen Sci. September–October 2017;5(5):66–70. 22. Patni A, Rajpurohit DS, Mamodiya U. Method to Improve the Efficiency of Solar Power Generation”. Inroads-An. Int J Jaipur Natl Univ. 2016;5(1s):125–30. 23. Ambalgi AP, Sujata SK, Mamodiya U, Sharma P. Effects of single and double wide slots on microstrip patch antennas characteristics using direct contact probe feed excitation with broadsided radiation. In: Goyal D, Chaturvedi P, Nagar AK, Purohit S, editors. Proceedings of the second international conference on smart energy and communication. Algorithms for Intelligent Systems. Singapore: Springer; 2021. 24. Mamodiya U, Mishra P, Iqbal A. Design & analysis of low-power low-voltage double-tail comparator. Int J Eng Res Gen Sci. September–October 2017;5(5):71–79. 25. Suthar S, Sharma P, Mamodiya U. Wireless power system: its challenges and issues. Network Sec. 2019;7(3):41–43.

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[if 424 not_equal=”Regular Issue”] Regular Issue[/if 424] Open Access Article

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NOLEGEIN Journal of Financial Planning And Management

ISSN: 2581-4087

Editors Overview

njfpm maintains an Editorial Board of practicing researchers from around the world, to ensure manuscripts are handled by editors who are experts in the field of study.

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    By  [foreach 286]n

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    Gargi Singh Tanwar, Vishakha Agarwal, Rohan Kandpal, Udit Mamodiya

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  1. B.Tech. Scholar, B.Tech. Scholar, B.Tech. Scholar, B.Tech. Scholar,Poornima Institute of Engineering and Technology, Poornima Institute of Engineering and Technology, Poornima Group of Institution, Poornima Group of Institution,Jaipur, Rajasthan, Jaipur, Rajasthan, Jaipur, Rajasthan, Jaipur, Rajasthan,India, India, India, India
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Abstract

nThe COVID-19 pandemic had a great outbreak not only on human lives but also on the economies. Arising economies like India had faced a greater impact of this pandemic because of its poor health infrastructure, poverty, population, and slowing growth rates. The government is taking various decisions to control this pandemic, but nobody knows is these decisions are sufficient or not, as this depend on when the virus is controlled in the country. But to formulate the correct policy and measures to control the economic impact, it is necessary to understand the deep impact of the COVID-19 pandemic on Indian economy.n

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Keywords: COVID-19, pandemic, outbreak, economies, Indian economy, economic impact, health infrastructure, growth rate

n[if 424 equals=”Regular Issue”][This article belongs to NOLEGEIN Journal of Financial Planning And Management(njfpm)]

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References

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1. Rani D. Impact of COVID-19 on Indian economy. Management guru. J Manag Res. 2020;2019:16.
2. Khetrapal S, Bhatia R. Impact of COVID-19 pandemic on health system & Sustainable Development Goal 3. Indian J Med Res. 2020;151(5):395–9. doi: 10.4103/ijmr.IJMR_1920_20, PMID 32611910.
3. Dev SM, Sengupta R. COVID-19: impact on the Indian economy. Indira Gandhi Inst Dev Res Mumbai. 2020 April.
4. Kanitkar T. The COVID-19 lockdown in India: impacts on the economy and the power sector. Glob Transit. 2020;2:150–6. doi: 10.1016/j.glt.2020.07.005.
5. Buheji M, da Costa Cunha K, Beka G, Mavrić B, Leandro do Carmo de Souza Y, Souza da Costa Silva S, Hanafi M, Chetia Yein T. The extent of COVID-19 pandemic socio-economic impact on global poverty. a global integrative multidisciplinary review. Am J Econ. 2020;10(4):213–24. doi: 10.5923/j.economics.20201004.02.
6. Kolte A, Mal H, Fulambrikar M, Jagtap A. Impact of price control on pharmaceutical sector with reference to India. Int J Intell Enterpr. 2021;8(1):90–104.
7. Tillin L. Building a national economy: origins of centralized federalism in India. Publ J Fed. 2021;51(2):161–85. doi: 10.1093/publius/pjaa039.
8. Kolte A, Patil A, Mal H. Monetary policy in tough times-case study approach. Int J Intell Enterpr. 2021;8(1):105–22. doi: 10.1504/IJIE.2021.112323.
9. Gopalan HS, Misra A. COVID-19 pandemic and challenges for socio-economic issues, healthcare and national programs in India. Diabetes Metab Syndr Clin Res Rev. 2020.
10. Sahoo P, Ashwani. COVID-19 and Indian economy: impact on growth, manufacturing, trade and MSME sector. Glob Bus Rev. 2020;21(5):1159–83. doi: 10.1177/0972150920945687.
11. Ibn-Mohammed T, Mustapha KB, Godsell JM, Adamu Z, Babatunde KA, Akintade DD, Koh SCL. A critical review of the impacts of COVID-19 on the global economy and ecosystems and opportunities for circular economy strategies. Resour Conserv Recy. 2020, 105169.
12. Brodeur A, Gray DM, Islam A, Bhuiyan S. A literature review of the economics of COVID-19. J Econ Surv. 2021. doi: 10.1111/joes.12423, PMID 34230772.
13. Keshky E, El Sayed M, Basyouni SS, Et al. Sabban, A.M. Front Psychol. 2020. Getting Through COVID-19: The Pandemic’s Impact on the Psychology of Sustainability, Quality of Life, and the Global Economy–A Systematic Review;11:3188.
14. Sengupta S, Jha MK. Social policy, COVID-19 and impoverished migrants: challenges and prospects in locked down India. The Int J Commun Soc Dev. 2020;2(2):152–72. doi: 10.1177/2516602620933715.
15. El Alaoui A. How countries of south mitigate COVID-19: models of Morocco and Kerala, India; 2020.
16. Mamodiya U, Sharma P. Review in controlling analysis of injection molding machine. Int J Eng Res Technol. June 2014;3(6).
17. Mamodiya U, Sharma P. Review in industrial automation. IOSR JEEE (IOSR-JEEE). May–June 2014;9(3):33–8. doi: 10.9790/1676–09343338.
18. Mamodiya U, Tiwari N. Design, implementation & performance analysis of solar tracking system on Simulink platform. IOP Conf S Mater Sci Eng;988(1), 012118.
19. Mamodiya U, Tiwari N. The performance enhancing technique analysis for automatic tracking tilt angle optimization of the solar panel with soft-computing process. Int J Adv Sci Technol. 2020;29(10S):3587–601.
20. Mamodiya U, Tiwari N. Investigation of SPV power plant with Dual Axis sun tracker. Test Eng Manag. November–December 2019;81:2621–6. 21. Purohit D, Singh G, Mamodiya U. A review paper on solar energy system. Int J Eng Res Gen Sci. September–October 2017;5(5):66–70. 22. Patni A, Rajpurohit DS, Mamodiya U. Method to Improve the Efficiency of Solar Power Generation”. Inroads-An. Int J Jaipur Natl Univ. 2016;5(1s):125–30. 23. Ambalgi AP, Sujata SK, Mamodiya U, Sharma P. Effects of single and double wide slots on microstrip patch antennas characteristics using direct contact probe feed excitation with broadsided radiation. In: Goyal D, Chaturvedi P, Nagar AK, Purohit S, editors. Proceedings of the second international conference on smart energy and communication. Algorithms for Intelligent Systems. Singapore: Springer; 2021. 24. Mamodiya U, Mishra P, Iqbal A. Design & analysis of low-power low-voltage double-tail comparator. Int J Eng Res Gen Sci. September–October 2017;5(5):71–79. 25. Suthar S, Sharma P, Mamodiya U. Wireless power system: its challenges and issues. Network Sec. 2019;7(3):41–43.

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Regular Issue Open Access Article

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Volume 4
Issue 1
Received April 12, 2021
Accepted April 26, 2021
Published May 10, 2021

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Read More
NJFPM

A Study on E-Banking and Traditional Banking Services and Comparison

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u00a0D. Sujatha,

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nJanuary 9, 2023 at 8:38 am

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This research work tries to clarify the differences between online and traditional banking. In the modern technological period, human life has gotten a lot easier than it used to be. Everything has been digitized as a result of technological advancements. Banking is also the most important of them all. Within the realm of technology, the financial system has advanced significantly since the 18th century. There are many advantages to technology. There have been several improvements in the banking business as a result of technological advancements. Every aspect of the banking system is computerized, from account opening to cash transfers via e-banking, which eliminates the need to visit banks and eliminates the need to wait in a long line for an extended period of time, allowing purchasers as well as banking institutions to work more efficiently and quickly. The RBI made several modifications to follow the necessary laws and regulations, guidelines, and instructions for banks and consumers, which helps to provide clients with privacy about their account and each transaction, when using online banking. However, due to a lack of awareness and education, only a small percentage of consumers are taking use of e-banking at this time (because technology demands knowledge to work it). In a lot of public sector banks, only a small percentage of the workforce is of working age. As a result, they have very little understanding about computerized banking/e-banking, and it takes a long time for them to complete any transaction. And these are the costs to the general public sector banks of spending a lot of money on training their employees on how to operate computers while also allowing the bank to handle any transaction. Aside from that, technology has always played a crucial role in the banking industry. Internet banking is gradually becoming a “must have” rather than a “nice to have” service. E-banking is nothing more than a traditional banking service distributed through a common economic communication backbone, based on the attitude, banking products and services are offered through internet debit and credit cards, mobile banking, and e-banking are all just a more typical banking service delivered via a network of economic communication. The impact of e-banking on traditional banking is the subject of this research.

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Volume :u00a0u00a04 | Issue :u00a0u00a02 | Received :u00a0u00a0August 19, 2021 | Accepted :u00a0u00a0August 26, 2021 | Published :u00a0u00a0September 27, 2021n[if 424 equals=”Regular Issue”][This article belongs to NOLEGEIN Journal of Financial Planning And Management(njfpm)] [/if 424][if 424 equals=”Special Issue”][This article belongs to Special Issue A Study on E-Banking and Traditional Banking Services and Comparison under section in NOLEGEIN Journal of Financial Planning And Management(njfpm)] [/if 424]
Keywords E-banking, traditional banking, modern era of technology, amendments, the mandatory rules and regulations, guidelines, instructions

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References

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1. Sonia Sharma. A detail comparative study on e- banking VS traditional banking. Int J Appl Res. 2016; 2(7): 302–307. https://www.allresearchjournal.com/archives/2016/vol2issue7/ PartE/2-6-146-742.pdf
2. Vyas Shilpan. Impact of E-Banking on Traditional Banking Services. Int J Comput Sci Commun Netw. 2012; 2(3): 310–313.
3. Shilpan Dineshkumar Vyas. Impact of E-Banking on Traditional Banking Services. https://www.researchgate.net/publication/258726999_Impact_of_E- Banking_on_Traditional_Banking_Services
4. Kasturi Rangan V, Lee Katharine L. (2012 Jan 31). Mobile Banking for the Unbanked. Harvard Business School Marketing Unit Case No. 511-049, Available at SSRN: https://ssrn.com/abstract=2017994.
5. Raja V, Joe A. Global e-banking scenario and challenges in banking system. Asian J Res Bank Financ. 2012; 2(3): 92–101.
6. Oliveira P, Eric VH. Users as service innovators: The case of banking services. Research Policy. 2011; 40(6): 806–818.
7. Impact of E-banking on Traditional Banking Services.”” ukessays.com. 11 2018. UKEssays. 01 2022 .
8. Karjaluoto, H., Mattila, M. and Pento, T. (2002) Factors Underlying Attitude Formation towards Online Banking in Finland. International Journal of Bank Marketing, 20, 261- 272.http://dx.doi.org/10.1108/02652320210446724
9. Daniel, E. (1999), “”Provision of electronic banking in the UK and the Republic of Ireland””, International Journal of Bank Marketing, Vol. 17 No. 2, pp. 72-83. https://doi.org/10.1108/02652329910258934
10. Mattila, Anna. (2001). The Impact of Relationship Type on Customer Loyalty in a Context of Service Failures. Journal of Service Research – J SERV RES. 4. 91-101. 10.1177/109467050142002.
11. Sathye, M. (1999) Adoption of Internet Banking by Australian Consumers: An Empirical Investigation. International Journal of Bank Marketing, 17, 324-334. http://dx.doi.org/10.1108/02652329910305689
12. Ranaweera, Chatura & Prabhu, Jaideep. (2003). On the relative importance of customer satisfaction and trust as determinants of customer retention and positive word of mouth. Journal of Targeting, Measurement and Analysis for Marketing. 12. 82-90. 10.1057/palgrave.jt.5740100.
13. Lee, Choonwoo & Lee, Kyungmook & Pennings, Johannes. (2001). Internal Capabilities, External Networks, and Performance: A Study on Technology-Based Ventures. Strategic Management Journal. 22. 615 – 640. 10.1002/smj.181
14. Pedro Oliveira, Eric von Hippel. Users as service innovators: The case of banking services. Research Policy. 2011; 40(6): 806–818. https://econpapers.repec.org/article/eeerespol/v_3a40_3ay_3a2011_3ai_3a6_3ap_3a806- 818.htm
15. Banking, T., n.d. Top 10 differences between Internet Banking and Traditional Banking. [online] Accountlearning.com. Avai

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[if 424 not_equal=”Regular Issue”] Regular Issue[/if 424] Open Access Article

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NOLEGEIN Journal of Financial Planning And Management

ISSN: 2581-4087

Editors Overview

njfpm maintains an Editorial Board of practicing researchers from around the world, to ensure manuscripts are handled by editors who are experts in the field of study.

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“},{“box”:4,”content”:”

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    D. Sujatha

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  1. Faculty of Commerce,St. Ann’s College for Women,Hyderabad, Telangana,India
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Abstract

nThis research work tries to clarify the differences between online and traditional banking. In the modern technological period, human life has gotten a lot easier than it used to be. Everything has been digitized as a result of technological advancements. Banking is also the most important of them all. Within the realm of technology, the financial system has advanced significantly since the 18th century. There are many advantages to technology. There have been several improvements in the banking business as a result of technological advancements. Every aspect of the banking system is computerized, from account opening to cash transfers via e-banking, which eliminates the need to visit banks and eliminates the need to wait in a long line for an extended period of time, allowing purchasers as well as banking institutions to work more efficiently and quickly. The RBI made several modifications to follow the necessary laws and regulations, guidelines, and instructions for banks and consumers, which helps to provide clients with privacy about their account and each transaction, when using online banking. However, due to a lack of awareness and education, only a small percentage of consumers are taking use of e-banking at this time (because technology demands knowledge to work it). In a lot of public sector banks, only a small percentage of the workforce is of working age. As a result, they have very little understanding about computerized banking/e-banking, and it takes a long time for them to complete any transaction. And these are the costs to the general public sector banks of spending a lot of money on training their employees on how to operate computers while also allowing the bank to handle any transaction. Aside from that, technology has always played a crucial role in the banking industry. Internet banking is gradually becoming a “must have” rather than a “nice to have” service. E-banking is nothing more than a traditional banking service distributed through a common economic communication backbone, based on the attitude, banking products and services are offered through internet debit and credit cards, mobile banking, and e-banking are all just a more typical banking service delivered via a network of economic communication. The impact of e-banking on traditional banking is the subject of this research.n

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Keywords: E-banking, traditional banking, modern era of technology, amendments, the mandatory rules and regulations, guidelines, instructions

n[if 424 equals=”Regular Issue”][This article belongs to NOLEGEIN Journal of Financial Planning And Management(njfpm)]

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References

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1. Sonia Sharma. A detail comparative study on e- banking VS traditional banking. Int J Appl Res. 2016; 2(7): 302–307. https://www.allresearchjournal.com/archives/2016/vol2issue7/ PartE/2-6-146-742.pdf
2. Vyas Shilpan. Impact of E-Banking on Traditional Banking Services. Int J Comput Sci Commun Netw. 2012; 2(3): 310–313.
3. Shilpan Dineshkumar Vyas. Impact of E-Banking on Traditional Banking Services. https://www.researchgate.net/publication/258726999_Impact_of_E- Banking_on_Traditional_Banking_Services
4. Kasturi Rangan V, Lee Katharine L. (2012 Jan 31). Mobile Banking for the Unbanked. Harvard Business School Marketing Unit Case No. 511-049, Available at SSRN: https://ssrn.com/abstract=2017994.
5. Raja V, Joe A. Global e-banking scenario and challenges in banking system. Asian J Res Bank Financ. 2012; 2(3): 92–101.
6. Oliveira P, Eric VH. Users as service innovators: The case of banking services. Research Policy. 2011; 40(6): 806–818.
7. Impact of E-banking on Traditional Banking Services.”” ukessays.com. 11 2018. UKEssays. 01 2022 .
8. Karjaluoto, H., Mattila, M. and Pento, T. (2002) Factors Underlying Attitude Formation towards Online Banking in Finland. International Journal of Bank Marketing, 20, 261- 272.http://dx.doi.org/10.1108/02652320210446724
9. Daniel, E. (1999), “”Provision of electronic banking in the UK and the Republic of Ireland””, International Journal of Bank Marketing, Vol. 17 No. 2, pp. 72-83. https://doi.org/10.1108/02652329910258934
10. Mattila, Anna. (2001). The Impact of Relationship Type on Customer Loyalty in a Context of Service Failures. Journal of Service Research – J SERV RES. 4. 91-101. 10.1177/109467050142002.
11. Sathye, M. (1999) Adoption of Internet Banking by Australian Consumers: An Empirical Investigation. International Journal of Bank Marketing, 17, 324-334. http://dx.doi.org/10.1108/02652329910305689
12. Ranaweera, Chatura & Prabhu, Jaideep. (2003). On the relative importance of customer satisfaction and trust as determinants of customer retention and positive word of mouth. Journal of Targeting, Measurement and Analysis for Marketing. 12. 82-90. 10.1057/palgrave.jt.5740100.
13. Lee, Choonwoo & Lee, Kyungmook & Pennings, Johannes. (2001). Internal Capabilities, External Networks, and Performance: A Study on Technology-Based Ventures. Strategic Management Journal. 22. 615 – 640. 10.1002/smj.181
14. Pedro Oliveira, Eric von Hippel. Users as service innovators: The case of banking services. Research Policy. 2011; 40(6): 806–818. https://econpapers.repec.org/article/eeerespol/v_3a40_3ay_3a2011_3ai_3a6_3ap_3a806- 818.htm
15. Banking, T., n.d. Top 10 differences between Internet Banking and Traditional Banking. [online] Accountlearning.com. Avai

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Regular Issue Open Access Article

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NOLEGEIN Journal of Financial Planning And Management

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[if 344 not_equal=””]ISSN: 2581-4087[/if 344]

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Volume 4
Issue 2
Received August 19, 2021
Accepted August 26, 2021
Published September 27, 2021

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