Objectives Of Plastic Money

 To know the perception of people towards plastic money.

 To analyze the factors for adoption of plastic money that replaces
the paper/cash money.
 To study the development of banking industry in plastic cards
usage trends.
 To know the importance of plastic money in the daily life of
consumers.
 To study the benefits of debit cards and credit cards.
 To know the problems faced by the respondents using plastic
money.
 To study the satisfaction level of consumers towards plastic
money.
 Chapter 1
Introduction
1.1 Concept of Credit Cards
1.2 Definition of Credit Cards
1.3 History of Credit Cards
1.4 Parties Involved in Credit Cards
1.5 Different Types of Credit Cards
1.6 Process of Credit Cards
1.7 Functions of Credit Cards
1.8 Features of Credit Cards
1.9 Advantages of Credit Cards
1.10 Disadvantages of Credit Cards
1.11 Need of Credit Cards
1.12 Major Questions Related to Credit Card Frauds
1.13 Introduction of Debit Cards
1.14 Meaning and Functions Of Debit Cards
1.15 Types Of Debit Card Systems
1.16 Contents on A Debit Card
1.17 Working of Debit Card
1.18 Advantages and Disadvantages of Debit Cards
1.19 Types of Debit Cards
1.20 Debit Cards Vs. Credit Cards
1.21 Research: Comparison Between HDFC And ICICI Bank
 Chapter 2
Literature Review
 Chapter 3
Research Design
 Chapter 4
Research Methodology
 Chapter 5
Data Analysis and Interpretation
 Chapter 6
Conclusion
Bibliography
 Chapter 1
1) Introduction
What Is Plastic Money?
Plastic Money is a term used in reference to the hard plastic cards we use in our daily
lives in the place of currency notes.
The Beginning of Money:
Money, in some form, has been a part of human history for a minimum of 3,000
years. Before that point, it was assumed that a system of barter trade was likely used.
Bartering was a direct trade of products and services—For an example:- I'll provide
you with a stone axe if you help me kill a mammoth, but such arrangements take time.
They would have to seek out someone who thinks an axe may be a fair trade for
having to face the 12-foot tusks on a beast that does not take kindly to being hunted. If
that did not work, they would need to change the deal until someone agreed to the
terms. Slowly, a sort of prehistoric currency involving easily traded goods like animal
skins, salt and weapons developed over the centuries. This technique of barter and
trade spread across the planet, and it still survives today in some parts of the world.
Then came the age of coins and currency. In 600 B.C., Lydia's King Alyattes minted
the primary official currency. The coins were made of electrum, a mix of silver and
gold that happens naturally, and stamped with pictures that acted as denominations.
Within the streets of Sardis, circa 600 B.C., a clay jar may cost you two owls and a
snake. Lydia's currency helped the country increase both its internal and external
trade, making it one in all the richest empires in peninsula. It's interesting that when
someone says, "as rich as Croesus", they're touching on the last Lydian king who
minted the primary gold coin.
Just when it gave the impression that Lydia was taking the lead in currency
developments, around 700 B.C., the Chinese moved from coins to paper currency. By
the time Marco Polo visited in 1271 A.D., the emperor had a decent handle on both
currency supply and various denominations. Europeans were still using coins up to
the 16th century, helped along by acquisitions of precious metals from colonies to
stay minting more and more money. Eventually, the banks started using bank notes
for depositors and borrowers to hold around rather than coins. These notes were taken
to the bank at any time and exchanged to their face values in silver or gold coins. This
paper currency were used to buy goods and operated very like currency today, but it
had been issued by banks and personal institutions, not the govt, which is now
answerable for issuing currency in most countries.
The first paper money issued by European governments was actually issued by
colonial governments in North America. Because shipments between Europe and also
the colonies took so long time that the colonists often ran out of money as operations
expanded. Rather than going back to a barter system, the colonial governments used
IOUs that traded as a currency.
Then in 1950s plastic money was introduced and now is a vital form of hard currency
which reduces the danger of carrying a large amount of money. It includes debit
cards, ATMs, smart cards, etc. Credit cards, variants of plastic money, are used as
substitutes for currency Credit cards in India are gaining importance. Various of
banks in India are encouraging people to use credit card. The concept of credit card
was employed in 1950s with the launch of charge cards in USA by Diners Club and
American Express. Credit card however became more popular use of magnetic strip in
1970. Credit card in India became popular the introduction of foreign banks within the
country. Credit cards are financial instruments, which may be used quite once to
borrow money or buy products and services on credit. It had been introduced around
and has now become a vital style of hard currency.
One of the most reasons for introducing plastic money, especially credit cards is to cut
back the chance of handling a large amount of money by individuals/merchants. the
expansion and recognition of plastic money in India has been phenomenal within the
previous couple of years. within the present-day world, nobody wants to be bothered
by the presence of big take advantage his or her wallet and also the Indians aren't any
exceptions. The unprecedented growth within the number of credit card users has
stimulated the Indian economy by a major extent. The arrival of malls, multiplexes,
online shopping stores and shopping complexes have contributed to the expansion of
the employment of plastic cards.
Over the years, Indians are averse to credit cards. this is often primarily because they
believed that spending through credit could be a sure shot way of going in the debt
trap. Of course, movies highlighting the sad state of a borrower failed to exactly help
matters. But the case isn't actually that scary. And it's all about right timing. Credit
cards is a great tool at the hands of savvy consumers who can effectively use the
advantages offered by cards. it's important to understand that credit card could be a
financial tool that has to be used responsibly. While it ensures income, it's not
advisable for purchasers to borrow for an extended period of your time. Use it
effectively and take good advantage of the time line and clear your debts, with none
additional costs.

Major Banks issuing Credit Card in India

•State Bank of India credit card (SBI credit card)
•Bank of Baroda credit card or BOB credit card
•ICICI credit card
•HDFC credit card
•IDBI credit card
•Standard Chartered credit card
•HSBC credit card
•Citibank Credit Card
Global player in credit card market are Master Card, VISA Card, American Express,
Diners Club International.
The first 6 digits of credit cards number are known as the issuer identification number
(IIN), previously known as bank identification number (BIN). These identify the
institution that issued the to the card holder.
The IIN ranges used by the major card schemes are
VISA: Card number start with a 4.
Master Card: Card start with No.51 and 55
Diners Club: Card number beginning 36 or 38
Amex Ex: Card number beginning 34 or37
1.1 Concept Of Credit Cards

Progress in civilization in its turn has brought out radical changes within the manner
of trading. the requirement for something intrinsically useful and simply applicable in
everyday dealing is clearly felt. take advantage the shape of currency notes and coins
makes up only 1 type of the payment system. Development in banking while also
giving inputs to the further development of money caused a second introduce payment
namely paper instructions like cheques and credit transfers. the necessity for greater
flexibility and convenience has led to electronic payments, and this is often where
plastic cards have proved their worth. It allows the cardboard issuers to limit the sum
of cash the card-holders wish to spend. The spending of card-holders who have
defaulted on payments or who are over their credit limit may be restricted until the
balances are cleared.

1.2 Definition Of Credit Cards

According To Investopedia, ‘A credit card is a thin rectangular slab of plastic

issued by a financial company, that lets cardholders borrow funds with which to
pay for goods and services. Credit cards impose the condition that cardholders
pay back the borrowed money, plus interest, as well as any additional agreed-
upon charges.’
In very simple words credit card may be termed as an unsecured consumer loan
offered to customers by the banks where the card-holder could purchase goods and
services from authorized merchant or merchant establishments (MEs) of the bank up
to a hard and fast limit on credit. Such credit is generally made available for a period
of 30 to 45 days. A credit card also can be wont to secure airline tickets and car
rentals. Having a credit card can make purchases and reservations easier; however, a
credit card should be used responsibly so that the consumer does not over extend his
finances. Credit cards are usually issued by banks or other financial institutions. Some
credit cards maybe available online.
1.3 History Of Credit Cards

Our society was once upon a time functioning without money; it's again likely to
become money less. While ancient society was confronted with the issues of adjusting
mutually satisfactory rates and basis of exchange, future society, with the assistance
of computers, electronics and telecommunications, credit cards, telephone and other
modern means of communications, would settle financial transactions instantly.
Money as a medium of exchange will serve its function. The difference are that in
future coins, currency notes, cheques, etc., are dispensed with in favour of records.
India has entered the stage of credit card system and credit cards are gaining
increasing relevance to facilitate industrial, commercial and agricultural transactions.
Credit was first employed in Assyria, Babylon and Egypt 3,000 years ago. The bill of
exchange –the forerunner of bank notes - was established within the 14th century.
Debts settled by one-third cash and two-thirds bill of exchange paper currency
followed only within the 17th century. the primary advertisement for credit was
placed in 1730 by Christopher Thornton who offered furniture that might be paid off
weekly. From the 18th century until the first a part of the 20th, tally men sold clothes
reciprocally for little weekly payments; they were called “tally men” because they
kept a record of tally of what people had brought on a wooden stick. One side of the
stick was marked with notches tore present the number of debt and also the other side
was a record of payments. within the 1920s shopper’s plate – “buy now, pay later”
system – was introduced in USA. It could only be employed in shops which issued it.
In 1950, Diners Club and American Express launched their charge cards in USA, the
first ‘plastic money’. In 1951, Diners Club issued the primary credit card to 200
customers who could use it at 27 restaurants. With the magnetic strip in 1970, the
credit card became an element of the information age.
The origins of the bank credit card have been traced to John C. Biggins, a consumer
credit specialist at the Flatbush full service bank of Brooklyn, New York. In 1946,
Biggins launched a credit plan called Charge-It. The program featured a sort of scrip
that was accepted by local merchants for little purchases. After the sale was
completed, the merchant deposited the scrip in a very checking account, and also the
bank billed the customer for the entire scrip issued.

Plastic Money : The Modern Currency Of India

Indian consumers have not had it so good. The soiled notes are definitely out.
Carrying cash isn't any more `a pain within the neck' as consumers are relying more
on the `plastic card' which provides them money on credit. Plastic money basically
means debit cards and credit cards which has a magnetic strip, logo, signature of the
cardholder product of plastic. Credit Cards have finally arrived in India. the card
industry which is growing at the speed of 20% each year is flooded with cards starting
from gold, silver, global, smart to secure.... the list is endless. From just two players in
early 80s, the industry now houses over 10 major players vying for a significant
chunk of the card pie. Currently four major bishops are ruling the card empire---
Citibank, Standard Chartered Bank, HSBC and depository financial institution of
India (SBI). The industry, which is catering to over 3.8 million card users, is predicted
to double by the fiscal 2003. in step with a study conducted by depository financial
institution of India, Citibank is that the dominant player, having issued 1.5 million
cards to date. Stan chart follows way behind with 0.67 million, while port Bank has
0.3 million credit card customers. Among the nationalized banks, SBI tops the list
with 0.28 million cards, followed by Bank of Baroda at 0.22 million.
1.4 Parties Involved In Credit Card

•Cardholder: The owner of the card

•Card-issuing bank: The establishment or other organization that issued the credit card
to the cardholder. This bank bills the buyer for repayment and bears the danger that
the card is employed fraudulently. American Express and see were previously the sole
card-issuing banks for his or her respective brands, but as of 2007, this is often now
not the case.
•Merchant: The individual or business accepting master card payments for products
or services sold to the cardholder
•Acquiring bank: The establishment accepting payment for the products or services
on behalf of the merchant.
•Independent sales organization: Resellers (to merchants) of the services of the
acquiring bank.
• Merchant account: this might visit the acquiring bank or the independent sales
organization, but generally is that the organization that the merchant deals with.
•Credit Card association: An association of card-issuing banks like Visa, MasterCard,
Discover, American Express, etc. that set transaction terms for merchants, card-
issuing banks, and acquiring banks.

•Transaction network: The system that implements the mechanics of the electronic
transactions that can also be operated by an independent company, and one company
can also operate multiple networks. Transaction processing networks include:
Cardnet, Nabanco, Omaha, Paymentech, NDC Atlanta, Nova, Vital, Concord EFSnet,
and VisaNet.
1.5 Different Types Of Credit Cards

•Charge card
A charge card carries all the features of credit cards. However, after employing a charge
card you'll have pay off the whole amount billed, by the end date. If you fail, you're likely
to be considered a defaulter and you will usually need to pay a steep late payment charge.
At the time of using the card he's not declared not as a defaulter whether or not misses the
end date. A 2.95 per cent late payment fees (this differs from one bank to another) is
levied within the next billing statement.
•Amex card
Amex stands for American Express and is the one amongst the well-known charge cards.
This card has its own merchant establishment tie-ups and doesn't rely upon the network
of MasterCard or Visa
• Smart card
A smart card is a card which contains an electronic chip which used to store cash. This
card can be most useful when you have small purchases, for instance bus fares taxis. No
identification, signature or payment authorization is required for using this card.
The exact amount of purchase is deducted from the card during payment and is collected
by car reading machines. No change is given. Currently this product is offered only in
very developed countries just like the U.S and is being employed only sporadically in
India.
•Diners Club card
Diners Club also is a branded charge card. There are a wide sort of special privileges
offered to the Diners Club cardholder. For an example, as a cardholder you'll be able to
set your own spending limit. Besides, the card has its own merchant establishment tie-ups
and doesn't rely upon the network of MasterCard or Visa.
However, since this card is often meant for high-income group categories, it is not
usually accepted in all shops. It might be a decent idea to test whether a member
establishment does accept the card or not before.
•Photo card
In this photograph is imprinted on a card, and so you've got what's called a photograph
card. Doing this helps identify the user of the card and is therefore considered safer.
Besides, in many cases, your photo card can function as your identification.
•Global card
Global cards allow you flexibility and convenience of employing a r-card instead of cash
or traveler’s checks while travelling abroad for either business or personal reasons.
• Co-branded card
Co-branded cards are credit cards issued by card companies that have tied with a
preferred brand for the aim of offering certain exclusive benefits to card holder.
•Affinity card
The card issuer ties up with popular organizations/ institutions which are often non-profit
organizations (Citi-WWF card or the stanch art-Cricket cards) to supply an affinity card.
When the card is employed, a particular percentage is contributed to the organization
/institution by the card issue
•MasterCard and Visa Card
MasterCard and Visa are global non-profit organizations dedicated to push the expansion
of the card business across the world. They have built a vast network of merchant
establishments in order that the customer’s world-wide may use their respective credit
cards conduct various purchases.
 Visa card:
Visa, Inc., commonly called VISA, is an economic venture o f21,000 financial
institutions that issue and market Visa products including credit and debit cards. The
company was originally named Visa International Service Association. The name change
occurred within the fall of 2007 as part of Visa’s restructuring and IPO plan.
1.6 Process Of Credit Cards
How Credit Card Processing Works

1. The customer make payment with a credit card.

2. Then the merchant captures the credit card information with the help of a credit
card reader.
3. After capturing the credit card information, approval from the card issuing bank is
required. Once the transaction is approved by the card issuing bank the merchant
bank account is credited and the transaction is submitted for settlement.
4. The Back-end processer pays the acquirer and debits the card issuing account.
Then the transaction is sent to the issuer.
5. Then the acquirer funds the merchant’s account.
6. Then after the merchant’s account receives the fund, the issuer posts the
transaction to the customer’s account.
7. Then the customer receives the statement of the transaction and pays the issuing
bank.
Grammar Check

Check Plagiarism

1.7 Functions Of Credit Cards

Today, Credit cards are used very frequently as people don’t have any spare time.
People now focus on their work and tend towards doing things quickly and in a time
saving manner. Thus, the use of credit cards has increased as it saves time, reduces the
risk of carrying cash and is very versatile. The functions of credit cards can be
summarized as follows:
 Credit
The holder may obtain extended credit up to an agreed limit at a broadcast rate of
interest.
 Charge
The holder can repay the whole amount at the tip of the month, for free of charge
provided no amount of cash has been taken. Cash On presentation at the acceptable
banks, subject to check, cash are often obtained. In most cases could also be utilized
in ATMs to urge cash.
 Cheque guarantee
A cheque drawn on a bank is additionally guaranteed up to a broadcast limit provided
it's amid a Cheque Guarantee Card (or in some cases a Visa or MasterCard card)
issued by the bank on which it's drawn.
 Cheque encashment
Cheque guaranteed as above is additionally used to obtain cash from branches of most
banks, although a charge is additionally levied in certain circumstances.
 International
If the credit card might be a member of Visa International or MasterCard
International, you will be ready to use your card at many countries where there are
plenty banks who are members of them. Perhaps the foremost significant fact to
emerge from the summary of card functions is that to be precise, they are not debit
cards. Although they're going to be used to obtain cash via ATM, the debit is made
from credit card account and not from the holder's bank account. The credit cards
discussed above are bank cards. Different bank cards have different card functions.
The functions of credit cards really depend upon the respective bank itself and also
the various features it may provide. Some bankcard may have all of the above
functions and a couple of won't. There other credit cards that are issued by retail
stores like Petrol Card, Quasi Card and private Label Card which may have variety of
the above functions mentioned above.

1.8 Features Of Credit Card

All credit cards offer a variety of features. Knowing and understanding these features
will help to decide which card is right for.
 Fees
Most credit cards charge fees for various things, and it's important to understand what
these fees are and the way to avoid them.
 The annual fee
Some credit card companies charge you an annual fee only for using their card. due to
stiff competition, you'll often negotiate this fee away if you call and speak to a
customer service representative.
 Cash Advance Fee
Most credit card companies will charge you a fee for cash advances. These fees can
differ from each other but are usually somewhat hefty. Not only will they charge you
with a one-time fee which is minimal amount, but the interest rate for this money are
going to be at a considerably higher rate. Plus, unlike a daily purchase, where interest
begins accruing after some grace period passes, cash advances accrue interest charges
from day one. Many card companies are competing for your business and are now
offering an introductory.
Many card companies are competing for your business and are now offering an
introductory advance and balance transfer rates for a selected amount of period. This
lower rate is often applied to any balances you'll wish to transfer from another card.
Although it sounds good, but some companies will charge you a fee for the transfer. One
should always know what the fee is before you transfer any balances.
 Miscellaneous Fees
Things like late-payment fees, over-the-credit-limit fees, set-up fees, and return-item fees
are all quite common lately and may represent a significant amount of cash out of your
pocket if you get whacked for any of those fees.
 Incentives
Since there are numerous card companies, competition is very stiff. Adding incentives to
their offers is one among the more popular ways to tip the scales in their favor. Incentives
like rebates on purchases, frequent flyer miles on certain airlines, and extended
warranties on purchases are just a couple of of the bonuses that card companies will now
offer.
For those of you who collect and use your frequent flyer miles, they even have added
incentives like travel insurance and hire car insurance for your convenience. Of course,
they're hoping that with all this traveling, you're using their card to foot a minimum of a
number of the bill.
 Rewards
Many card companies are looking to stay your business and are therefore making it worth
your while to use their card. Just by using their card you'll accumulate points which will
successively earn you rewards. What quite reward depends solely on the quantity of
points you accumulate. Since you cannot accumulate these points without charging things
on your card, this is often a classic case of 'you need to spend money to save lots of
money.
 APR
The annual percentage rate (APR) is that the rate of interest applied a balance carried
beyond the grace period. Credit cards can have different APRs for various sorts of
balances, e.g. balance transfers or purchases. Balance transfers and cash advances usually
have higher APRs than for purchases. Your APR may increase when you're late on your
payment to a specific creditor, and other creditors if your card agreement includes a
universal default clause.

APRs are often fixed or variable. a hard and fast APR can change, but the creditor must
inform you in writing before changing the speed. A variable APR changes from time to
time.
 Grace Period
The grace period is that the amount of your time you've got to pay your balance fully
before a finance charge is applied to your purchase. If you carried a balance from the
previous month, you'll not have a grace period for your new purchases. additionally,
balance transfers and cash advances typically don't have a grace period. When balances
do not have an applicable grace period, interest is applied directly.To find out the length
of the grace period ask the credit card application or your credit card agreement. Your
monthly statements should also include the amount of days within the grace period.

1.9 Advantages Of Credit Cards

•Purchase Power and Ease of Purchase

Credit cards can make it easier to shop for things. If you do not wish to carry large
amounts of money with you or if a corporation doesn't accept cash purchases (for
example most airlines, hotels, and hire car agencies), putting purchases on a credit card
can make buying things easier.
•Protection of Purchases
Credit cards can also provide you with additional protection if something you've
purchased is lost, damaged, or stolen. Both your card statement (and the card company)
can vouch for the very fact that you simply have made a purchase if the first receipt is
lost or stolen. Additionally, some card companies offer insurance on large purchases.
•Building a Credit Line
Having an honest credit history is usually important, not only when applying for credit
cards, but also when applying for things like loans, rental applications, or maybe some
jobs. Having a credit card and using it wisely (making payments on time and fully each
month) will assist you build an honest credit history.
•Emergencies
Credit cards also can be useful in times of emergency. While you should always avoid
spending outside your budget (or money you do not have!), sometimes emergencies (such
as your car breaking down or flood or fire) may cause an outsized purchase (like the
necessity for a rental car or a bedroom for several nights.)

•Credit Card Benefits

In addition to the advantages mentioned above, some credit cards offer various additional
benefits, like discounts from particular stores or companies, bonuses like free airline
miles or travel discounts, and special insurances (like travel or life assurance.) While
most of those benefits are meant to encourage you to charge extra money on your credit
card (remember, credit card companies start making their money once you can't afford to
pay-off your charges!) the advantages are real and may be helpful as long as you
remember your spending limits.

1.10 Disadvantages Of Credit Cards

 Blowing Your Budget

The biggest disadvantage of credit cards is that they encourage people to spend more
money that over their budget. Most credit cards don't require you to pay off your balance
monthly, so even if you simply have $100, you'll be ready to spend up to $500 or $1,000
on your credit card. While this might appear to be 'free money' at the time, you'll need to
pay it off -- and therefore the longer you wait, the extra money you'll owe since credit
card companies charge you interest monthly on the cash you've got borrowed.
 High Interest Rates and Increased Debt
Credit card companies charge you a huge amount of interest on each balance that you
simply don't pay off at the top of every month. This is often how they create their money
and this is how many of the people get into debt (and even bankruptcy.) Consider this: If
you've got a $100 in savings, most banks will offer you at the foremost 2.0 to 2.5%
interests on your money over the course of the year. this suggests you earn $2.00 - $2.50
a year on your $100 savings. Most credit cards charge you up to 10 times that quantity of
interest on balances. this suggests that if you've got $100 balance that you simply don't
pay off, you'll be charged 20-25%interest thereon $100. This suggests that you simply
owe almost $30 interest (plus the first $100) at the top of the year. An honest thanks to
check out this is often as compared to what you'd earn in interest from a bank or owe in
interest to a bank loan: Savings accounts may pay you around 2% interest; if you've got a
loan from a bank you'll pay them around 10% interest (5 times the maximum amount as
you earn off your savings); if you owe money to a credit card company, you'll pay them
around 20% interest (10 times the maximum amount as you earn off your savings.)

 Credit Card Fraud

Like cash, sometimes credit cards are often stolen. They'll be physically stolen (if you
lose your wallet) or someone may steal your card number (from a receipt, over the phone,
or from an online site) and use your card to rack up debts. The great news is that, unlike
cash, if you realize your credit card or your card number has been stolen and you report it
to your card company immediately, you'll not be charged for any purchases that
somebody else has made. Even if you do not realize your that your credit card number
has been stolen (sometimes you would possibly not know until you receive your monthly
statement), most card companies don't charge you or only charge a little fee, like $25 or
$50. There are several steps you can follow to stop your credit card fraud:
•If you lose your card or wallet, report it to your credit card company immediately.
•Don't loan your credit card to anyone and only give out your credit card information to
trusted companies or internet sites.

•Check your statement closely at the top of every month to form sure all charges are
yours. •You can determine more about protecting your personal information by visiting
our Personal Safety course.

Credit cards can make life easier and be an excellent tool, but if they are not used wisely they
will become an enormous financial burden. If you plan to use credit cards, remember these
simple rules:
•Keep track of all of your purchases.
•Don't spend outside your budget.
•Pay off your balance on all of your credit cards at the top of every month.

1.11 Need Of Credit Cards

There could also be many of us who suggest that you simply get a credit card, but before
you are doing you ought to carefully decide whether or not you actually need a credit
card. The solution is that you simply can get by without a credit card. Although credit
cards are often useful, when used properly (paid fully every month), it is often a much
bigger liability than an asset. Here are five common misconceptions about needing a
credit card.
1.Credit Card for building Credit
You build credit by paying your bills on time. You'll build enough credit to qualify for a
home equity credit by paying your rent on time for several years. You destroy your credit
once you don't pay your bills on time. The utility companies and other businesses can
send you to a set agency if you are not paying on time. You do not need a credit card to
create your credit history. you'll find it a touch easier to try to to with a credit card, but
you ought to be very careful as you are trying to try to do so.
2. Credit card to buy Online or Rent a Car
Since debit cards are introduced you not need a credit card to try to do this stuff. Actually
you'll do everything with a debit credit that you simply can with a credit card, except
spend money that you simply don't have. you ought to not be doing that anyway. Debit
cards are often used anywhere a credit card can. This completely debunks the statement
that you simply need credit card to rent a car.

3. Credit Card for Emergencies

If you propose well you ought to found out an emergency fund for emergencies. Your
emergency fund should have a minimum of $1000.00 in it, but you ought to attempt to
have three to 6 months of expenses stored-up. This much money should be ready to
handle any emergency that comes your way. If you're stranded on the road and wish to be
towed you'll use your debit card to buy the tow, and your emergency fund to hide those
expenses.

4.Credit Card to save lots of Money on Purchases

Many stores will offer discounts for having a store credit card. Stores don't offer cards to
offer you discounts; they provide cards because they realize that while most of the people
shall pay the cardboard off monthly, few actually do. They create more back on interest
than they the discount they provide to you.

5. Credit Card to Earn Rewards

This is a dangerous game to play. If you're responsible and pay off your balance fully
monthly, you'll consider having a rewards credit card. you ought to confirm that you
simply have a credit card with no annual fee. Additionally it's important to recollect that
the credit card offers its rewards, because the corporate realizes that the majority people
aren't getting to pay off their credit cards fully monthly. This suggests that they create
extra money off the purchasers, then rewards they provide out.
1.12 Major Questions Related To Credit Card Frauds

1) Which kinds of credit card frauds are more prevalent?

Counterfeit and CNP (card not present) still are the 2 main types. Physical theft of cards
isn't such a problem. Since online transactions typically don't require credit/debit card to
be presented, the data sitting on the card and other customer authentication details are
sometimes compromised and used for transactions. This is often becoming an enormous
problem. However, India has been pro-active during this regard and has introduced the
two-factor identification system, wherein a customer transacting online must even have a
T-Pin for transactions to complete where the credit/debit isn't present.

2) What is being done to stop such fraud?

Visa is doing variety of things in partnership with issuers to introduce measures which
may easily prevent such frauds. Since the prevention of theft is of utmost important,
banks are offering customers the choice of choosing alerts whenever there's a transaction.
This measure is immediate in nature and may help the customer realize his or her
transactions in real time. Also, they are increasingly encouraging issuers to choose chip
cards, which may go an extended way in controlling fraud.

3) Why is a chip installed card safer?

It is very difficult to copy, as a unique cryptogram or code is generated for every
transaction. So, even if a card is counterfeited, it'll be declined. In India, banks are
selectively issuing chip cards to consumers, depending upon their usage pattern. Now In
India all ATMs have been updated to accept credit/debit cards which are chip enabled.
This step helps to reduce credit/debit card frauds drastically.
4) Which are the most effective fraud detection tools that Visa has?
Some are rule-based tools, wherein a customer can define a group of rules for
transactions sort of a spending limit, places of transactions, etc. If there's a deviation from
these, and therefore the transaction won't be complete. within the USA, neural networks
(artificial intelligence) are being deployed to make sure the authentication sits on the
back-end. These networks basically study the pattern of usage by a customer and any
deviation comes up for further verification. So, a customer gets a call if there's a
deviation from his or her set pattern.

5) Which steps can a customer follow to avert card-related frauds?

They should first choose for transaction alerts whenever there's a transaction. Second
would be dynamic authentication by using chip cards. Also, they ought to take care of
hidden cameras in ATMs and should check if it is a fake ATM, where your card is often
skimmed.
1.13 Introduction Of Debit Cards

The debit card has emerged from the concept of its older sibling, the credit card. Over the
past decade, debit card has grown from accounting for 274 million transactions in 1990 to
8.15 billion transactions in 2002, to challenge the credit card because the preferred
payment card. As it stands, the debit card industry has become a multi-billion dollar
engine that helps drive bank profits and point-of purchase consumer sales - but is
additionally starting to redefine traditional payment options within the business and
government sectors, like food stamps, benefits, and payroll.

After the demonetization by current government there has been a surge in cashless
transactions, so nowadays you'll find card acceptance in most places. The debit card was
mostly used for ATM transactions. RBI has announced that fees aren't justified so
transactions haven't any processing fees. Almost half Indian debit/credit card users use
Rupay card. Some Indian banks issue Visa debit cards, though some banks (like SBI and
Citibank India) also issue Maestro cards. The debit transactions are routed through Rupay
(mostly), Visa or MasterCard networks in India and overseas instead of directly via the
issuing bank.

The National Payments Corporation of India (NPCI) has launched a replacement card
called RuPay. it's almost like Singapore's NETS and Mainland China's UnionPay. Two
decades ago, the number of debit cards in circulation was approximately 19 million. This figure
is projected to cross 34.4 million by 2016.
1.14 Meaning And Functions Of Debit Cards

A debit card (also referred to as a bank card or check card) may be a plastic card that
gives an alternate payment method to cash when making purchases. Functionally, it is
often called an electronic check, because the funds are withdrawn directly from either the
checking account, or from the remaining balance on the card. In some cases, the cards are
designed exclusively to be used on the web, then there's no physical card.

In many countries the utilization of debit cards has become so widespread that their
volume of use has overtaken or entirely replaced the check and, in some instances, cash
transactions. Like credit cards, debit cards are used widely for telephone and Internet
purchases and, unlike credit cards, the funds are transferred immediately from the bearer's
checking account rather than having the bearer pay back the cash at a later date. Debit
cards can also leave instant withdrawal of money, acting because the ATM card for
withdrawing cash and as a check guarantee card. Merchants may also offer cashback
facilities to customers, where a customer can withdraw cash along side their purchase.

Debit cards also can leave instant withdrawal of money, acting because the ATM card for
withdrawing cash and as a cheque guarantee card. Merchants also can offer "cash
back"/"cash-out" facilities to customers, where a customer can withdraw cash along side
their purchase.
1.15 Types Of Debit Card Systems

There are currently 3 ways that open-end credit (debit card) transactions are processed: 1.
Online debit (also referred to as PIN debit), 2. Offline debit (also referred to as
signature debit) and 3. Electronic Purse Card System. It should be noted that one
physical card can include the functions of a web open-end credit (debit card), an offline
open-end credit (debit card) and an electronic purse card. Although many debit cards are
of the Visa or MasterCard brand, there are many other sorts of debit, each accepted only
within a specific country or region.

 Online Debit System

Online debit cards require electronic authorization of each transaction and therefore the
debits are reflected within the user’s account immediately. The transaction could also be
additionally secured with the private identification number (PIN)authentication system
and a few online cards require such authentication for each transaction, essentially
becoming enhanced cash machine (ATM) cards. One difficulty in using online debit
cards is that the necessity of an electronic authorization device at the purpose of sale
(POS)and sometimes also a separate PIN pad to enter the PIN.

 Offline Debit System

Offline debit cards have the logos of major credit cards (e.g. Visa or MasterCard) or
major debit cards and are used at the purpose of sale sort of a credit card (with payer's
signature). This sort of debit card could also be subject to a daily limit, and/or a
maximum limit adequate to the current/checking account balance from which it draws
funds. Transactions conducted with offline debit cards require 2–3 days to be reflected on
users’ account balances.
 Electronic Purse Card System
Smart-card-based electronic purse systems during which value is stored on the debit card
chip, not in an externally recorded account, in order that machines accepting the debit
card need no network connectivity are in use throughout Europe since the mid-1990s.

 Prepaid debit cards

Prepaid debit cards, also called reloadable debit cards or reloadable prepaid cards, are
often used for recurring payments. The payer loads funds to the cardholder's card
account. Prepaid debit cards use either the offline debit system or the web debit system to
access these funds. Particularly for companies with an outsized number of payment
recipients abroad, prepaid debit cards allow the delivery of international payments
without the delays and costs related to international checks and bank
1.16 Contents On A Debit Card
1.17 Working Of A Debit Card

The user has got to present the debit card to merchant who will swipe it through the
electronic terminal and enter the quantity of purchase. The customer has to sign the
transaction slip. The Account will be automatically debited for the quantity of the
transaction and therefore the transaction are often verified by entering the PIN. Debit
card can be used access the Account from over 5,000 Shops, department shops, Petrol
Pumps and Restaurants and over 235 ATMs in India. It also can be used at over 4
million Visa Electron merchant locations and equally strong MasterCard outlets. If
your card ever gets lost or stolen, card companies protect from fraudulent usage at the
loss.

It's necessary to possess a savings or accounting with the card issuer; by filling an
form. The card company then couriers the card across around a week’s time. The
debit card does have a daily limit which might be somewhere around Rs. 15,000 at
ATMs, and Rs. 10,000 at merchant locations. This again is subject to the balance
available within the account.
1.18 Advantages And Disadvantages Of Debit Card

 Advantages of Debit Card

•A consumer who isn't credit worthy and should find it difficult or impossible to get a
credit card can more easily obtain a debit card, allowing him/her to form card
transactions. for instance, legislation often prevents minors from removing debt,
which incorporates the utilization of a credit card, but not online debit card
transactions.

•For most transactions, a check card is often used to avoid check writing altogether.
Check cards debit funds from the user's account on the spot, thereby finalizing the
transaction at the time of purchase, and bypassing the need to pay a credit card bill at
a later date, or to write down an insecure check containing the account holder's
personal information.

•Like credit cards, debit cards are accepted by merchants with less identification and
scrutiny than personal checks, thereby making transactions quicker and fewer
intrusive. Unlike personal checks, merchants generally don't believe that a payment
via a open-end credit could also be later dishonored.

•Unlike a credit card, which charges higher fees and interest rates when a advance is
obtained, a open-end credit (debit card) could also be wont to obtain cash from an
ATM or a PIN-based transaction at no extra charge, aside from a far off ATM fee.
 Debit Cards Benefits

Debit Cards offer the subsequent benefits:

•They help people to be disciplined financially, since one cannot splurge with the
limited amount of funds deposited for the card.
•A person with poor credit can also obtain a debit card.
•Debit cards are often used make an online transaction and payments.
•They provide freedom from carrying cash checks while traveling, hereby offering
more safety.

 Disadvantages of Debit Card

•Use of a debit card isn't usually limited to the prevailing funds within the account to
which it's linked, most banks allow a particular threshold over the available bank balance
which may cause overdraft fees if the users transaction doesn't reflect available balance.

•Many banks are now charging over-limit fees or non-sufficient funds fees based upon
pre-authorizations, and even attempted but refused transactions by the merchant (some of
which can be unknown until later discovery by account holder).

•Many merchants mistakenly believe that amounts owed are often "taken" from a
customer's account after a debit card (or number) has been presented, without agreement
on date, payee name, amount and currency, thus causing penalty fees for overdrafts, over-
the-limit, amounts not available causing further rejections or overdrafts, and rejected
transactions by some banks.
•In some countries debit cards offer lower levels of security protection than credit cards.
Theft of the user’s PIN using skimming devices are often accomplished much easier with
a PIN input than with a signature-based credit transaction. However, theft of users' PIN
codes using skimming devices are often equally easily accomplished with a debit
transaction PIN input, like a credit transaction PIN input, and theft employing a
signature-based credit transaction is equally easy as theft employing a signature-based
debit transaction.

•In many places, laws protect the buyer from fraud much but with a credit card. While the
holder of a credit card is legally liable for only a minimal amount of a fraudulent
transaction made with a credit card, which is usually waived by the bank, the buyer could
also be held responsible for many dollars, or maybe the whole value of fraudulent debit
transactions. the buyer also features a shorter time (usually just two days) to report such
fraud to the bank so as to be eligible for such a waiver with a debit card (open end credit
card), whereas with a Credit card, this point could also be up to 60 days. A thief who
obtains or clones a debit card alongside its PIN could also be ready to clean out the
consumer's checking account, and therefore the consumer will haven't any recourse.
List Of Banks Which Issue Debit Cards In India

 Visa Debit Cards

1.Andhra Bank 16.Karnataka Bank Ltd

2.Axis Bank Limited 17.Kotak Mahindra Bank
3.Bank Of Baroda 18.Oriental Bank Of Commerce
4.Barclays Bank PLC 19.Standard Chartered Bank
5.Canara Bank 20.State Bank Of India
6.City Union Bank Ltd 21.Syndicate Bank
7.Corporation Bank 22.The Dhanlaxmi Bank Ltd
8.Dena Bank 23.The Federal Bank Ltd
9.Deutsche Bank AG 24.The Karur Vysya Bank Ltd
10.Development Credit Bank Ltd 25.The Lakshmi Vilas Bank Ltd
11.HDFC Bank Ltd 26.Uco Bank
12.ICICI Bank Ltd 27.Union Bank Of India
13.IDBI Bank Ltd
14.India Overseas Bank
15.Indusiund Bank Ltd
 MasterCard Debit Cards

1.Axis Bank 10.IBDI Bank

2.Bank Of India 11.Indian Bank
3.Canara Bank 12.ING Vysya Bank
4.Central Bank Of India 13.Punjab National Bank
5.Citi Bank 14.Royal Bank Of Scotland
6.Corporation Bank 15.Standard Chartered Bank
7.Federal Bank 16.State Bank Of India
8.HDFC Bank 17.Union Bank Of India
9.ICICI Bank 18.Yes Bank

 RuPay Debit Cards

1.Bank Of India 4.Union Bank Of India

2.Bank Of Baroda 5.Cosmos Bank
3.State Bank Of India
1.19 Types Of Debit Cards

 Check Card
A check card is general term used for a debit card that functions like writing a check.
This card withdraws money directly from your account to buy a sale. Typically, a
check card is backed by Visa or Mastercard and may be used at the most merchants.

 Visa Debit Card

A Visa debit card is backed by Visa, a debit/credit card processing network. When
you use a Visa debit car, the transaction are often processed in one among two ways.
One option is to use your personal identification number to verify the transaction.
During this case, the request for payment is shipped directly from a merchant to your
bank.

With a Visa debit card, the transaction also can be authorized via the credit card
network. You’ll have to check in order to verify the transaction. once you use this
feature, the retailer temporarily borrows money from Visa until they withdraw the
funds from your account.

 MasterCard Debit Card

Mastercard debit cards function an equivalent as Visa debit cards with no practical
differences between the two of them. Visa and Mastercard are literally just payment
processing networks, which suggests they handle the transaction between the bank
and therefore the merchant. Both Mastercard and Visa are widely accepted, both
within the U.S. and internationally.

A handful of shops only accept either Visa or Mastercard. for instance, Costco only
accepts Visa. Otherwise, Visa and Mastercard are almost universally accepted, and
there won’t be much difference between a Visa and Mastercard debit card.
 Maestro Debit Card
Maestro is a debit card service owned by Mastercard, more commonly seen in
Europe. Sort of a typical open-end credit (debit card), Maestro cards require a PIN to
verify the transaction.

If you’re a frequent international traveler, you'll use your Maestro card at any
Mastercard-owned ATM. The Maestro open-end credit allows you to right away
withdraw funds within the local currency.

 Prepaid Debit Card

A prepaid debit card provides various budgeting advantages over other cards. A
prepaid debit card is not linked with your bank account, so people without a bank
account can also enjoy the services of a prepaid debit card. One cannot over spend
when using prepaid debit card, therefore it can be useful for people who are budget
conscious.

 EVM Card
EVM card is a debit card with extra added security. They come along with computer
chips which is much harder to copy than magnetic strips. The user’s pin number must
match with the encrypted in the computer chip. These precautions make the EVM
Card more secure than the other cards.
1.20 Credit Cards Vs. Debit Cards

 Similarities
The same financial institutions offer both debit cards and credit cards. Both cards
offer special rewards, like points and cash back on transaction and purchases made
through the card. Debit cards and credit cards are often used to make online payments
with the assistance of the personal identification number assigned to them. they will
be used for withdrawing money from ATM depending the cash limit available on
these cards.

 Differences

In the case of a credit card, the issuer offers credit and overdraft facilities. This facility
isn't available with a debit card, which can only debit payments from existing and
available funds within the cardholders account. A credit cardholder therefore features
a monthly bill to pay in monthly that the card is employed. If they don’t pay that bill,
high interest charges are applied. An open-end credit/Debit card holder is free from
the effort of paying those bills and from the danger of build up large debts to credit
card companies.

Debit Card Problems are often worse than Credit card Problems
When an improper charge appears on the credit card it cannot automatically out the
cash and easily got to work with the credit card issuer to possess the charge far away
from the bill. When an improper charge occurs with a open-end credit/debit card,
however, the funds are automatically taken from the account and customer is
burdened with attempting to urge the cash back. Meanwhile, he may experience
income problems and therefore the legitimate checks could bounce.

Traveling together with your Debit Cards

The reverse side of the debit card will display the names or symbols of the varied
ATM systems which will accept the card. Debit card are often used at any ATM
within the world as long because the ATM displays one among an equivalent system
names or symbols that's on debit card. When obtaining funds at an ATM during a
foreign country the funds dispersed are going to be within the currency of the country
going to visit.

1.21 Research: Comparison Between HDFC And ICICI Bank

1. HDFC Bank
The Housing Development Finance Corporation Limited (HDFC) was amongst the
primary banks to receive an 'in-principle' approval from the RBI to line up a bank
within the private sector, as a part of the Reserve Bank Of India's liberalization of the
Indian Banking Industry in 1994. The bank was incorporated in August 1994 within
the name of 'HDFC Bank Limited', with its registered office in Mumbai, India. HDFC
Bank commenced operations as a Scheduled Commercial Bank in January 1995.

Capital Structure
The Indian Private Equity Fund, Mauritius (IPEF) and Indocean Financial Holdings
Ltd., Mauritius (IFHL) (both funds advised by J P Morgan Partners, formerly Chase
Capital Partners) together hold about 5.5% of the bank's equity. Roughly 27.5% of the
equity is held by FIIs, NRIs/OCBs while the balance is widely held by about 214,000
shareholders. The shares are listed on the stock market, Mumbai and therefore the
National stock market. The bank's American Depository Shares are listed on the NY
Stock Exchange (NYSE) under the symbol "HDB"
Board Of Directors
Managing Director Aditya Puri
Executive Director Kaizad Bharucha
Executive Director Bhavesh Zaveri
Chairman Deepak Parekh
Non-Executive Director Srikanth Nadhamuni

2. ICICI Bank

In 1955, the economic Credit and Investment Corporation of India Limited (ICICI)
was incorporated at the initiative of World Bank, the govt of India and representatives
of Indian industry, with the target of making a development financial organization for
providing medium-term and long-term project financing to Indian businesses. In
1994, ICICI established Banking Corporation as a banking subsidiary. Formerly
referred to as Industrial Credit and Investment Corporation of India, ICICI Banking
Corporation was later renamed as 'ICICI Bank Limited'

Capital structure

ICICI Bank is India's second-largest bank with total assets billion (US$ 108.7 billion)
at March 31, 2010.ICICI Bank's equity shares are listed in India on BSE and therefore
the NSE of India Limited and its American Depositary Receipts (ADRs) are listed on
the NYSE.

Board Of Directors

Managing Director Sandeep Bakhshi

Chairman Girish Chandra Chaturvedi
Executive Director Anup Bagchi
Independent Director S. Madhavan

 Types of Cards Provided By HDFC Bank

 Millennia Cards
 Credit Cards
 Debit Cards
 Prepaid Cards
 Commercial Cards

 Types of Cards Provided By ICICI Bank

 Credit Cards
 Debit Cards
 Prepaid Cards
 Travel Cards
 Uni-fare Cards
 Commercial Cards
 Merchant Cards
HDFC Bank Vs. ICICI Bank:

Year-2019 HDFC ICICI

Total Branches 4014 5275
Total No. Of ATM’s 12260 15589
Total Assets US$ 170 Billion US$ 130 Billion
Total Revenue US$ 16 Billion US$ 9.5 Billion
Total No. Of Employees 113981 84922
Total No. Of Customers 37 Million 24 Million
 Chapter 2

Literature Review

 Subhani in 2008 conducted a study on ‘Plastic Money/Credit Cards Charisma

for Now and Then’. The study was based to seek out out the charisma of plastic
money, its usability and affordability and its impact on its preference to use. The
research found that the preference to use of plastic money has its pros and cons
with its usability and affordability. The study shows that the preference to go for
plastic money has a positive attitude that it is easy to use.

 P Manivannan (2013) in his research paper "Plastic money means less

payment of cash checking system ". In his research he states the plastic money is
a measure of luxury. Plastic Money and Electronic payments are mostly used by
people of higher income category. This facility is not only meant for consumers
living in urban areas but also for consumers living in rural areas. However, this is
changing now-a-days as people of mid income category have also started the use
of plastic money.

 Gambir (1998), “Credit cards in India”. Gambir describes that in 1998 credit
cards were relatively new in India. Credit cards were treated as a status symbol
and also a vehicle of consumerism. At that time it did not go along very well with
the spirit of people because people didn’t had money to spend due to bad
economic condition but with increasing economic and financial liberalization and
growing prosperity of the urban middle class families, bank felt that it is the right
time to enter this business

 Caskey and Sellon (1994): In their research they found out that debit cards were
more useful than credit cards for people who did not had access to the complete
range of existing payments. Those who didn’t had credit cards found out debit
cards met their desire to carry less cash or to make payments where cheques were
not acceptable. Debit cards were more often used by the middle class families who
couldn’t afford a credit card. Debit card was like a substitute for credit cards.

 Mandeep Kaur and Kamalpreet Kaur (2008),in their article, “Development

of Plastic Cards Market: Past, Present and Future Scenario in Indian Banks”
conclude that Indian banking sector technology as all the groups of bankers have
now recognized it as essential requirement for his or her survival and growth in
future Despite the strong advances in e-payments, an estimated 90 percent of
private consumption expenditure in India remains made with cash which indicates
the tremendous growth potential of this business. So this will be considered as
mere beginning which indicates the brilliant future prospects of plastic card market
in India.

 P Manivannan (2013) in his research paper “Plastic Money a way for cash
Less Payment System” examined that Plastic Money i.e. usage of credit card was
measured a luxury, and has become needed. These plastic money and electronic
payments was and employed by only higher income group. This facility extended
not only to customers in urban areas or cities, but also to customers residing in
country. However, today, with development of banking and trading activity, the
fixed income group or salaried classes also are start using the plastic money and
electronic payment systems and particularly Credit cards.

 Anupama Sharma (2012) in her research paper “Plastic card frauds and the
countermeasures: towards a safer payment mechanism” has examined that as the
use of plastic money has increased it has resulted in an increase in plastic card
frauds. The main losses occur to the merchants and the banks and the cardholders
are the least affected. These losses can be dealt with by the use of new and latest
technology and taking respective counter measures.

 Bansi Patel and Urvi Amin (2012); in their research paper “Plastic Money:
Roadway Towards Cash Less Society” in his research he says that use of plastic
money for any transaction has become inevitable as it makes the transaction
process easier and more secure. Plastic Money also help to control money
laundering.

 Mandeep Kaur and Kamaldeep Kaur (2008) Development of plastic cards

market: past, present and future scenario in Indian banks; In his research he
found out that initially plastic money was not popular among the Indian
consumers. The change in demographics, income, education, social status brought
the relevent changes in consumer preferences. Thus the use of plastic money has
risen over the years due to demographic changes in the society.

 Nirmala. R. Sonu (2015): ANALYSIS OF THE USE OF PLASTIC MONEY:

in her research she states that the major reason for the increase in the usage of
plastic money is the advantage of instant transaction. With cash instant transaction
cannot be possible all the time. Convenience of not carrying cash, time saving,
ease of use, are the factors that encourage the consumers to use plastic money over
carrying cash. Additionally, Security is also an important factor that encourages
consumers to choose plastic money over carrying cash.

 George (1995), “The card majors lead the way” shows that VISA and Master
Card play a crucial role in any international payment system. Both VISA and
Master Card act guarantor of payment to merchants who are willing to simply
accept the cards. VISA and Master card each have nearly 22000 banks everywhere
the planet as their members and handle several million transactions every day. this
provides them a transaction handling capability unmatched by a person bank. they
supply a worldwide network that permits authorization, clearing and settlement of
card transactions, both of credit and debit card.

 Radhakrishan (1996) study on “DEBIT CARDS”: shows that debit cards are
also widely accepted around the world more than credit cards because it is interest
free and avoid high spending. He also states that practically debit cards are better
than credit cards in many ways.
 Canner and Luckett (1992) Credit cards allow consumers to borrow within their
credit limit without transaction costs, which incorporates all the time and energy
involved obtaining a loan from a financial organization. This convenience attracts
many consumers to pay high interest on outstanding credit card balances,
rather than taking the time to use for a loan with a lower rate of interest. As a
result, credit cards account for a considerable and growing share of consumers'
debt.
 Chapter 3

Research Design

A. Summary:

A research design is a framework or blueprint for conducting the research project. It

specifies the details of the procedures necessary for obtaining the information needed
to structure and/or solve the research problem.

B. Type of Research:

For the purpose of study, the type of research selected are descriptive.

C. Type of Survey:

The questionnaire is filled through an online survey.

D. Sampling Method:

Random Probability Sampling Method is used with a minimum of 100 respondents.

E. Duration of Research:

The research has been carried out for a period of 3 months.

 Chapter 4

Research Methodology