MS-OFFICE

INTRODUCTION
Microsoft Office (or simply Office) is a family of server software,
and services developed by Microsoft. It was first announced by Bill
Gates on August 1, 1988, in Las Vegas. The first version of Office
contained Microsoft Word, Microsoft Excel, and Microsoft
PowerPoint. Over the years, Office applications have grown substantially closer with shared
features such as a common spell checker, data integration etc. Office is produced in several
versions targeted towards different end-users and computing environments. The original, and
most widely used version, is the desktop version, available for PCs running the Windows, Linux
and Mac OS operating systems. Office Online is a version of the software that runs within a web
browser, while Microsoft also maintains Office apps for Android and iOS. Microsoft Office is a
suite of desktop productivity applications that is designed specifically to be used for office or
business use. It is a proprietary product of Microsoft Corporation and was first released in 1990.
Microsoft Office is available in 35 different languages and is supported by Windows, Mac and
most Linux variants. It mainly consists of Word, Excel, PowerPoint, Access, OneNote, Outlook
and Publisher applications. Microsoft Office was primarily created to automate the manual office
work with a collection of purpose-built applications. Each of the applications in Microsoft Office
serves as specific knowledge or office domain such as:

1. Microsoft Word: Helps users in creating text documents.

2. Microsoft Excel: Creates simple to complex data/numerical spreadsheets.
3. Microsoft PowerPoint: Stand-alone application for creating professional multimedia
presentations.
4. Microsoft Access: Database management application.
5. Microsoft Publisher: Introductory application for creating and publishing marketing
materials.
6. Microsoft OneNote: Alternate to a paper notebook, it enables an user to neatly organize
their notes.
Besides desktop applications, Microsoft Office is available to use online or from cloud under
a lighter (Office Web Apps) and full (Office 365) version. As of 2016, Microsoft Office 2016
is the latest version, available in 4 different variants including Office Home Student 2016,
Office Home Business 2016 and Office Professional 2 and the online/cloud Office 365 Home
Premium.

Important Features of MS-Word

MS-Word not only supports word processing features but also DTP features. Some of the
important features of MS-Word are listed below:

1. Using MS-word you can create the document and edit them later, as and when required
by adding more text, modifying the existing text, deleting/moving some part of it.
2. Changing the size of the margins can reformat complete document or part of text.
3. Font size and type of fonts can also be changed. Page numbers and Header and Footer
can be included.
4. Spelling can be checked and correction can be made automatically in the entire
document. Word count and other statistics can be generated.
5. Text can be formatted in columnar style as we see in the newspaper. Text boxes can be
made.
6. Tables can be made and included in the text.
7. Word also allows the user to mix the graphical pictures with the text. Graphical pictures
can either be created in word itself or can be imported from outside like from Clip Art
Gallery.
8. Word also has the facility of macros. Macros can be either attached to some
function/special keys or to a tool bar or to a menu.
9. It also provides online help of any option.

DISCUSSION ON MS-OFFICE

BRIEF DISCUSSION ABOUT MS-OFFICE

MS-Office is the most up-to-date product of Microsoft which is mainly designed for
Domestic/Official/Development purpose PC-Users. Microsoft has already launched this
 product as its older version like Office 4.3, Office 95, Office 97, Office 2000, Office 2002
XP Professional, Office 2003 & latest Office 2007. Each Version launched with some new
and advance options. The given editions are mainly available as per the requirements of users
at different levels. The part software of MS Office 2000 & 2003 (currently in use) are listed
as.

1.MS-Access
2. MS-Excel
3. MS-InfoPath
4. MS-Outlook
5. MS-Power Point
6. MS-Publisher
7. MS-Word
NOW WE DISCUSSE MAIN PARTS OF MS-OFFICE
Microsoft Access is a well-known database management system produced by
Microsoft and is part of the Microsoft 365 office suite. Microsoft Access combines
Microsoft’s relational Jet Database Engine with software development tools and a
graphic user interface (GUI). It was first released in November 1992, so it’s been
around for a while. In the rapidly changing, fast-paced IT world, we can best describe
a 30-year-old program as "venerable."
Microsoft Access also has the distinction of being the first mass-market database
program for Windows.
Microsoft Access enables business and enterprise users to manage data and analyze
vast amounts of information efficiently. The program provides a blend of database
functionality and Programming capabilities for creating easy-to-navigate forms.
Microsoft Access is like Microsoft excel in that you can store, edit, and view data.
However, Access has much more to offer, as we are about to see.
 Microsoft Excel is a spreadsheet program used to record and analyze numerical and
statistical data. Microsoft Excel provides multiple features to perform various
operations like calculations, pivot tables, graph tools, macro programming, etc. It is
compatible with multiple OS like Windows, macOS, Android and iOS.
Benefits of Using MS Excel
MS Excel is widely used for various purposes because the data is easy to save, and
information can be added and removed without any discomfort and less hard work.
Given below are a few important benefits of using MS Excel:
 Easy To Store Data: Since there is no limit to the amount of information that can be
saved in a spreadsheet, MS Excel is widely used to save data or to analyse data. Filtering
information in Excel is easy and convenient.
 Easy To Recover Data: If the information is written on a piece of paper, finding it may
take longer, however, this is not the case with excel spreadsheets. Finding and recovering
data is easy.
 Application of Mathematical Formulas: Doing calculations has become easier and less
time-taking with the formulas option in MS excel
  More Secure: These spreadsheets can be password secured in a laptop or personal
computer and the probability of losing them is way lesser in comparison to data written in
registers or piece of paper.
 Data at One Place: Earlier, data was to be kept in different files and registers when the
paperwork was done. Now, this has become convenient as more than one worksheet can
be added in a single MS Excel file.
 Neater and Clearer Visibility of Information: When the data is saved in the form of a
table, analysing it becomes easier. Thus, information is a spreadsheet that is more
readable and understandable.

Microsoft InfoPath is a software application for designing, distributing, filling and

submitting electronic forms containing structured data. Microsoft initially released
InfoPath as part of the Microsoft office 2013 family. The product features
a WYSIWYG form designer in which the various controls (e.g. text box, radio
button checkbox) are bound to data, represented separately as a hierarchical tree view
of folders and data fields.
InfoPath 2013 became available for the first time as a freestanding download on
September 1, 2015, when Microsoft made it available in its Download Center.
However, unlike previous versions of InfoPath, the standalone version of InfoPath
2013 requires an active Pro Plus subscription to Office 365. This updated version of
InfoPath 2013 (15.0.4733.1000) is designed to work alongside Office 2016, which
does not include InfoPath. Its indirect successor is office form which is free to anyone
with a Microsoft Account.

Microsoft Outlook is a versatile component of the Microsoft Office 2003 for users to
manage personal information and to communicate with others. It helps you in
managing your email messages, appointments, contacts, and tasks, as well as making
reminders and tracking activities. In this article, we will give a very brief introduction
on some of the major functions of this software.
 Mail
Outlook can function as an email client connecting to the Microsoft Exchange server
using a proprietary protocol, as well as to standard mail servers using POP3 or IMAP
protocol. It provides a multipane view for easy browsing of your mailboxes. You can
use Word to compose email. Moreover, it is bundled with an effective client-side junk
mail filtering tool.

Calendar
The calendar function is highly sophisticated and feature rich. After marking your
appointments and events on the calendar, you can add sound or message as a
reminder. Calendar items can be coloured for easy identification. You can display the
calendar in different views: a day, a week, a work-week, and a month.

Contacts
Outlook comes with a powerful personal contacts database. Besides email addresses,
you can use it to store various pieces of information such as job titles, phone
numbers, addresses, and notes for each of your correspondents.

Tasks
The "Tasks" tool assists you to maintain a "To-do list" easily. It helps you to record
the tasks of your various duties and projects. You can set priority and due date to each
task.

Journal
You can keep track of your activities using the "Journal" tool. Journal can
automatically record all the email your sent and received, and keep track of how long
you spent in other Office programs like Word, Excel, and PowerPoint .

Notes
The "Notes" tool provides an electronic version of the Post-it sticky notes. You can
create notes with different colours and set reminders for each individual note.
 Outlook is a popular email clients used in enterprises. It is included in Office 2003
standard, professional as well as Academic-License editions. Its popularity keeps on
increasing due to the feature-rich functions and its ability to keep in sync with mobile
and embedded systems.

Microsoft PowerPoint is a professional presentation program that allows the user to

create "presentation slides" that can be displayed on the computer screen or through a
projector that is plugged into the computer. A PowerPoint presentation is a good way
to convey pieces of information, usually in the form of an outline, to a large audience.
Generally, PowerPoint presentations are appealing to users because they are easy to
create and edit and generally small enough to fit onto a CD or a USB Jump Drive.
Therefore, a user does not have to carry around any slides or slide projector, and, if
necessary, can make any last-minute changes to the presentation.
MAIN FEATURES OF MS-POWERPOINT ARE-:

 Customize Colour Schemes.

 Add Animation effects.
 Use the Slide, Notes and Handout Masters.
 Create, Edit and Import Charts.
 Create and Edit Tables.
 Manage Hyperlinks.
 Create Custom Shows.
 Export Outlines & Presentation Slides to Word.
 Creating Basic Charts
 Using Tables
 Customizing Presentations
 Editing Presentation Masters
 Editing Notes and Handout Masters
 Applying Special Effects
 Setting Up the Slide Show
 Setting Automatic Slide Trimmings
 Setting Up a Continuous Loop
 Hiding a Slide
 Rehearsing Slide Transition Timings
 Expanding a Slide Show
 Presenting to a Wider Audience
 Using SmartArt
 Inserting a Photo Album
 Exporting Outlines and Slides

Microsoft Publisher is an entry‐level desktop publishing program (the big two used
by professional graphic artists are Adobe’s InDesign and Quark’s QuarkXPress)
targeted towards small businesses and organizations lacking a professional page
designer. It can produce brochures, newsletters, menus, postcards, and more and
prepare these documents for self‐printing or sending to a commercial printer.
Although much of what Microsoft Publisher does can be done in Microsoft Word, it
has more emphasis on page layout and page design whereas Microsoft Word has
more emphasis on text composition and proofing. Knowledge of Microsoft Word is a
great benefit to learning Microsoft Publisher.

SEVEN BASIC PART OF MS-PUBLISHER-:

The Publisher environment consists of the Title Bar, which also contains the Quick
Access toolbar, the Ribbon, the Page Navigation Pane, the Publication Page area, and
the Status Bar, which also contains the Page Layout View buttons and the Zoom
Slider.
 Microsoft word is a word processor software developed by Microsoft in 1983. It is
the most used word processor software. It is used to create professional quality
documents, letters, reports, resumes, etc and also allows you to edit or modify your
new or existing document. The file saved in Ms Word has .docx extension. It is a
component of the Microsoft Office suite, but you can buy it separately and is
available for both Windows and macOS. The latest version of Ms Word is 2019.

Uses of MS Word-
Given below are the different fields in which MS Word is used and simplifies the
work of an individual:
 In Education: It is considered as one of the simplest tools which can be used by both
teachers and students. Creating notes is easier using MS Word as they can be made more
interactive by adding shapes and images. It is also convenient to make assignments on
MS Word and submitting them online
 In Workplace: Submitting letters, bills, creating reports, letterheads, sample documents,
can all easily be done using MS Word
 Creating & Updating Resume: One of the best tools to create your resumes and is easy
to edit and make changes in it as per your experience
  For Authors: Since separate options are available for bibliography, table of contents,
etc., it is the best tool which can be used by authors for writing books and adjusting it as
per the layout and alignment of your choice

SCOPE OF MS-OFFICE

It can be drawn from the above that the MS Office suite is a widely used software tool and a
person trained in it can be of multiple use for any organization. Specialists in MS Office suite
can be engaged in variety of tasks such as word processing, data entry, presentation, and
spreadsheet preparation. The Microsoft office specialist is considered an integral part of many
businesses as they can skillfully use the software to perform essential daily duties.

Professionals certified as Microsoft Office Specialists, efficiently perform their work in a timely
fashion alongside non - certified professionals. The MOS is found in almost every sector of
business-like Telecom, IT, administration, and many others.
 Microsoft Office has become a leading platform to drive productivity at home and in the
workplace. Whether it’s managing email in Outlook, or building analysis spreadsheets in Excel,
Office has made carrying out many computer-based tasks easier for all of us.

ADVANTAGES AND DISADVANTAGES OF MS-OFFICE

ADVANTAGES OF MS-OFFICE-:

1. Universal Software

Microsoft Office is now compatible with mobile after they recently developed office mobile,
which offers free-to-use versions of Office applications for mobile devices. Microsoft also runs
Office Online, a web-based version of core Office apps, which are included as part of a
Microsoft account.

For years, Office has been compatible with Apple’s MacOS, a move which at the time was
questionable due to the rivalry between Apple and Microsoft, but one that has proven to be a
good one for both tech giants.

2. Used by over 1.2 billion people and most businesses

What a preposterous number. To put that in context, that is nearly 20% of the world’s population
use Microsoft Office 365. That many people cannot be wrong. Recent statics has shown that the
percentage of enterprises with at least 100 users increased from 87% to 91%, and usage within
enterprises grew over 320%.

These statistics show that Microsoft have successfully reinvented Office as a cloud-based
program which can be accessed anywhere, which leads me to.

3. Online Support from Microsoft

With an Office subscription, you get help from Microsoft included. They offer invaluable
support for any users who are looking to make the most of their program, which is a vital way to
maximize your productivity and usage of the product.
4. Easy to use

Office applications can be used for complicated operations, depending on how you want to
use them. But, one of the standout features of Office is that it can be used by people of any
age to simplify functions and increase productivity, which is the reason it was developed in
the first place.

5. Multipurpose

Keeping track of your accounts or analysing business data? Excel can do that. Writing a CV or
cover letter? Word can do that. Writing a business proposal or presentation? PowerPoint can do
that.

Microsoft Office is the best suite of applications to achieve your personal or business goals
simply due to its ability to adapt to your needs.

6. Security

There has been a lot of news recently regarding the increasing threat of cyberattacks. Attacks are
growing in sophistication and scale.

Sit back. Relax.

Microsoft has taken the responsibility of keeping your data and information safe. All data stored
in the cloud is housed in one of Microsoft’s data centers, providing real-time safety scans for
messages and documents for cyber security threats, making it one of the safest cloud services
around.

DISADVANTAGES OF MS-OFFICE-:

1. Cost considerations:
There are often budget choices, i.e., Cap-Ex vs Op-Ex, or your business could be a
seasonal one and the recurring fee may be caused due to the budget constraints. Thus,
while the office 365 subscription is usually more cost-effective for many business, it
many not work so well for your seasonal business.
 2. Infrastructure configuration:
Since Office 365 is built in the cloud there is less flexibility and customization. If you
have a hybrid set-up, (combination cloud and on-prem) you might need to have a third
party involvement or add-ons when it comes to other collaboration tools or emails.
3. Email Archiving and eDiscovery
When it comes to archiving and eDiscovery tools, Office 365 has limitations. If your
business is regulated then you have to ensure that there are no restrictions in your plan in
email retention and archiving. While Office 365 boasts an eDiscovery tool, it may not be
necessarily part of your plan or easy to administer. Examine all these features before
migrating to Office 365. To ensure compliance you might require an addition of third-
party email archiving service provider.
4. Email quotas and limitations
There are limits placed on how many emails you can send and receive in one day, unlike
on-prem exchange servers. All these vary with subscription and Microsoft is working to
improve size and quota. Before moving to Office 365 your business must investigate this.
5. Data Security
Your information does not not reside, as with any cloud-based solution. Here it will sit on
a Microsoft server. Many businesses find this as an secure option, but there are industries
such as healthcare and financial services which are bound to comply the regulatory
constraints and require data to be stored on-perm. Microsoft does offer options for these
businesses as well, but they are more expensive and may not completely satisfy
requirements.

APPLICATIONS

APPLICATIONS OF THE MS-OFFICE-:

Microsoft Office is a suite of applications designed to help with productivity and completing
common tasks on a computer. You can create and edit documents containing text and images,
work with data in spreadsheets and databases, and create presentations and posters.
Microsoft Office is a collection of office-related applications. Each application serves a unique
purpose and offers a specific service to its users. For example, Microsoft word is used to create
documents. Microsoft PowerPoint is used to create presentations. Microsoft outlook is used to
manage email and calendars. There are others as well.

FUTURE APPLICATIONS-:

Microsoft confirmed it will launch Office 2021, the latest version of its productivity suite of apps
like Word, Excel and others, later this year for personal and small business use.

The company said it will unveil more information about features coming to Office 2021 in the
future.

Microsoft also offers a subscription -based model for its productivity services called 365, which
offers products like Word, Excel, PowerPoint and other applications for a monthly fee. It costs
$69.99 a year for a personal plan, or $99.99 a year for a family plan supporting up to six people.

SUMMMARY AND CONCLUSION

CONCLUSION AND RECOMMENDATIONS-:

First introduced in 1990, Office software is made by the Microsoft Corporation. MS Office helps
simplify basic office tasks and improve work productivity. Each application is designed to
address specific tasks, such as word processing, data management, making presentations and
organizing emails.

Microsoft Office is a suite of applications designed to help with productivity and completing
common tasks on a computer. You can create and edit documents containing text and images,
work with data in spreadsheets and databases, and create presentations and posters.

In conclusion, Microsoft Office and its variety of business-based applications are useful tools
that can and should be utilized within organizations of any size in order to encourage and
facilitate organization, team-work, and cohesion within an organization.
When the Office suite was first released, it was entirely devoted for usage in computer systems but
later with time the Office suite was modified for use in Laptops, Tablets and Mobile phones.

Given below are the various versions of Microsoft Office along with the years in which the version
was released:

Microsoft Office Versions

Version name Release Date/ Year

Microsoft Office for Windows October 1990

Microsoft Office 3.0 August 30, 1992

Microsoft Office 4.x 1994

Microsoft Office 1995 August 24, 1995

Microsoft Office 1997 1997

Microsoft Office 2000 June 7, 1997

Microsoft Office XP May 31, 2001

Microsoft Office 2003 October 21, 2003

Microsoft Office 2007 January 30, 2007

Microsoft Office 2010 June 15, 2010

Microsoft Office 2013 January 30, 2012

Microsoft Office 2016 September 22, 2015

 NET BANKING AND ONLNE PAYMENT SYSTEM
INTRODUCTION
Net-banking, also known as internet banking, is an electronic system
managed by banks which enables customers to access financial as well as
non-financial banking products online. Earlier, customers had to visit the
banks even for a small service. However, after the arrival of internet
banking, almost all the services and products can be accessed online. From fund transfer
to requesting demand draft, net-banking facilities, and all banking essentials. It is not just
convenient but also a secure method of banking.
internet banking, web banking or home banking, is an electronic payment system that
enables customers of a bank or other financial institution to conduct a range of financial
transactions through the financial institution's website. The online banking system will
typically connect to or be part of the core banking system operated by a bank to provide
customers access to banking services in addition to or in place of traditional branch
banking. Online banking significantly reduces the banks' operating cost by reducing
reliance on a branch network, and offers greater convenience to some customers by
lessening the need to visit a branch bank as well as the convenience of being able to
perform banking transactions even when branches are closed. Internet banking provides
personal and corporate banking services offering features such as viewing account
balances, obtaining statements, checking recent transactions, transferring money between
accounts, and making payments. Some banks operate as a "direct bank", where they
operate entirely via the internet or internet and telephone.
In 1996 Industrial Credit and Investment Corporation of India was the first to use
electronic banking in India by introducing online banking services in branches. Its
initiatives were followed by HDFC Bank, IndusInd Bank and Citibank, who started
provided online banking facilities in 1999.
Check account balance and statement. Transfer money via NEFT, RTGS or IMPS.
Conduct international remittances. Book Fixed Deposits and Recurring Deposits. Pay
utility bills and credit card bills. Through net banking we can do all these things without
going to the banks. We can do directly through mobile phone.
 DISCUSSION ON NET BANKING AND ONLINE
PAYMENT SYSTEM

BRIEF DISCUSSION ABOUT NET BANKING AND ONLINE

PAYMENT SYSTEM-:
Internet has made it easier for banks to facilitate banking for their customers online.
Customers can now operate their bank accounts, carry out balance enquiry, transfer funds
or provide standing instructions to banks almost instantly from wherever they feel like.
This can be done with the help of net banking or internet banking by accessing the net
banking portal of the specific bank.

An account holder just needs to provide a few details to register and carry out
transactions without any handholding by the bank. It is accessed by a username and
password and sometimes an additional code or OTP is required to authorize a fund
transfer. Internet banking has made providing banking services cost-effective and
decisions are now data-driven. Read on to know everything about net banking.
How does Net Banking Work
To benefit from net-banking, customers are required to register for internet banking at the
bank. Individuals having a savings account or current account at any bank can register for
internet banking. For net-banking to work properly, you need a personal computer, laptop
or mobile, and good internet connection. After registering, a unique customer ID and
password are issued by the bank using which one can log-in to the net-banking portal

FEATURES OF NET BANKING-:

 A secure and convenient method of banking

 Password-protected banking system
 Easy access to financial and non-financial banking products/services
 Access your bank account anytime anywhere
 Track and manage bank balance, last transactions, statements, etc.
  Transfer funds online via NEFT, RTGS, IMPS anytime
 Process bill payments quickly
 Keep a track of payments, personal loans, home loans, business loans, credit cards,
savings account, etc.
 Channelize or cancel automatic payments

HOW TO REGISTER FOR NET BANKING ONLINE-:

Step 1: Visit your bank’s official net-banking website

Step 2: Click on the ‘login’ button under personal/retail banking option

Step 3: On the next screen, click on the ‘New User? Register Here’ option

Step 4: If you have already obtained the customer ID and password from the bank, enter and
proceed to login. Otherwise, click ‘Next’

Step 5: Now, you will be required to fill a ‘Self Registration Form’. Enter details such as
account number, registered mobile number, email address, branch code, CIF number, debit
card details, etc. After that, click on ‘Submit’

Step 6: Authenticate your registration using a one-time password sent to your registered mobile
number

Step 7: On the next screen, your temporary customer ID and password will be displayed

Step 8: Log-in using your temporary credentials. You need to create a new log-in password after
logging in for the first time

Note: Login and transaction password should be changed every 2 months to safeguard the net-
banking account.
Steps for Net Banking Login

After successful registration, you can follow the given steps to log into your net banking
account-

1. Visit your bank’s official net-banking website. (Make sure the URL of the website starts
with ‘https://’. This means that the URL is secure)
2. If you are a retail user, choose ‘Personal Log-in’. If you are a corporate user, choose
‘Corporate Log-in’
3. Now, on the next screen, enter your customer ID and password
4. Enter Captcha and click on ‘Login’
5. Your Net Banking dashboard will be displayed on the next screen

How to Transfer Funds via Net Banking

The process of transferring funds via net-banking is mostly the same for the banks. Here is a
simple step-by-step guide to transferring funds online via net-banking:

Step 1: Use your customer ID and password to log-in to your bank’s official net-banking portal

Step 2: Navigate to the ‘Transfer Funds’ option and select the method of transfer – NEFT,
RTGS, or IMPS. If you are selecting NEFT, you need to make sure that the beneficiary’s bank is
NEFT enabled

Step 3: Select the beneficiary. If you haven’t already added the beneficiary, click on ‘Add
Beneficiary’

Step 4: Enter the beneficiary’s name, account number, IFSC, and bank’s branch name. Click
‘Submit & Save’ to add the beneficiary to your list

Step 5: Enter the amount which you wish to transfer

Step 6: Authenticate the process by entering the one-time password sent to your mobile number

Step 7: Click ‘Confirm & Send’. The money will be transferred to the beneficiary’s account
Note: You will receive a confirmation message/mail from your bank regarding the successful
transfer of funds.

Popular Types of e-banking Services in India

 Internet Banking: It is the type of electronic banking service which enables customers
to perform several financial and non-financial transactions via the internet. With
internet or online banking or net-banking, customers can transfer funds to another
bank account, check account balance, view bank statements, pay utility bills, and
much more
 Mobile Banking: This electronic banking system enables customers to perform
financial and non-financial transactions via mobile phone. Most of the banks have
launched their mobile banking applications available on Google Play store and Apple
App Store. Just like the net-banking portal, customers can use the mobile application
to access banking services.
 ATM: Automated Teller Machines (ATM) is one of the most popular types of e-
banking. ATMs allow customers to withdraw funds, deposit money, change Debit
Card PIN, and other banking services. To make use of an ATM, the user must have a
password. Banks charge a nominal fee from the customers on every transaction made
after crossing the specified limit of free transactions if the transaction is done from
any other bank’s ATM.
 Debit Cards: Almost every person owns a debit card. This card is connected to your
bank account and you can go cashless with this card. You can use your debit card for
all types of transactions, the transaction amount is debited from your account
instantly
 Deposit and Withdraws (Direct): This service under e-banking offers the customer a
facility to approve paychecks regularly to the account. The customer can give the
bank an authority to deduct funds from his/her account to pay bills, instalments of any
kind, insurance payments, and many more
  Pay by Phone Systems: This service allows the customer to contact his/her bank to
request them for any bill payment or to transfer funds to some other account
 Point-of-Sale Transfer Terminals: This service allows customers to pay for the
purchase through a debit/credit card instantly

SCOPE OF NET BANKING AND ONLINE PAYMENT SYSTEM-:

Net-banking allows the transfer of funds from one account to another through three different ways-
NEFT, RTGS and IMPS. Let us understand these three methods in details-

NEFT

National Electronic Fund Transfer NEFT is one of the most used payment methods which
enables one-to-one fund transfer. It is a time-restricted process at the bank, but available 24×7 on
the net-banking portals. Generally, it takes about 30 minutes for the funds to be successfully
transferred via NEFT. However, the time can even stretch to 2-3 hours.

RTGS

Real-Time Gross Settlement RTGS refers to a continuous settlement of funds individually on an

order-by-order basis. This implies that the RTGS system ensures that the beneficiary’s account is
credited with the funds immediately. Transactions via RTGS are monitored by the RBI which
suggests that successful transfers are irrevocable. This method is used to transfer a minimum of
Rs.2 lakh. Just like NEFT, RTGS is also a time-restricted service at the bank, but accessible
24×7 via net-banking.

IMPS

Immediate Payment System IMPS also deals in the real-time transfer of funds. It is most used to
transfer funds instantly within banks across India via mobile, internet and ATM. One can transfer
funds via IMPS just with the mobile number of the beneficiary.
Net banking allows customers to easily access a variety of banking services such as money
transfers, the creation of FDs and RDs, the tracking of transactions, and so on. Any customer
who has an active bank account with the bank can use internet banking or net banking.

Also, through the net banking Customers can easily check their balance and transaction history at
any time. Order Cheque Books & Cards.

ADVANTAGES AND DISADVANTAGES OF NET BANKING AND

ONLINE PAYMENT SYSTEM-:

ADVANTAGES DISADVANTAGES

An online account is simple to open and easy Understanding the usage of internet banking might be
to operate. difficult at the first. That said, there are some sites
which offer a demo on how to access online accounts
(not all banks offer this). So, a person who is new to
technology might face some difficulty.

It's convenient, because you can easily pay You cannot have access to online banking if you don’t
your bills and transfer your funds between have an internet connection; thus, without the
accounts from nearly anywhere in the world. availability of internet access, it may not be useful.

You do not have to stand in a queue to pay off Security of transactions is a big issue. Your account
your bills. Also you do not have to keep information might get hacked by unauthorized people
receipts of all of your bills, as you can now over the internet.
easily view your transactions.

It is available all the time. You can perform Password security is a must. After receiving your
your tasks from anywhere and at any time, password, change it and memorize it. Otherwise, your
even at night or on holidays when the bank is account may be misused.
closed. The only thing you need to have is an
active internet connection.
It is fast and efficient. Funds get transferred Your banking information may be spread out on several
from one account to the other very fast. You devices, making it more at risk.
can also manage several accounts easily
through internet banking.

You can keep an eye on your transactions and If the bank’s server is down, then you cannot access
account balance all the time. your accounts.

You can get to know about any fraudulent If the bank's server is down, due to the loss of net
activity or threat to your account before it can connectivity or a slow connection, then it might be hard
pose any severe damage. to know if your transaction went through.

It's a great medium for the banks to endorse You might get overly marketed too and become
their products and services. annoyed by notifications. That said, these can easily be
turned off.

More online services include loans and You might become annoyed by constant emails and
investment options. updates.

APPLICATIONS

APPLICATION OF NET BANKING AND ONLINE BANKING SYSTEM

Almost all banks offer net banking facilities. You can check account balances, transfer funds,
manage your debit and credit cards etc., with net banking. It is a time-saving facility available
24x7x365. You can conduct financial transactions in real-time with internet banking.

 Check account balance and statement

 Transfer money via NEFT, RTGS or IMPS

 Conduct international remittances

  Book Fixed Deposits and Recurring Deposits

 Pay utility bills and credit card bills

 Manage and apply for credit and debit card

 Apply for cheque book

 Make Mutual Fund investments

 Apply for Personal Loans, Home Loans, etc.

FUTURE APPLICATIONS OF NET BANKING AND ONLINE PAYMENT

SYSTEM

Digital banking is ripe for growth in India. Amid soaring demand for digital and neo banking,
new players are transforming the banking experience for individuals and companies. The digital
banking space is at an inflection point with the market projected to grow at a compounded annual
rate of 23.1% from 2022 to 2030.

SUMMARY AND CONCLUSION

CONCLUSION AND RECOMMENDATION-:

In this report, we discussed how the new payment methods impact on banks in three categories.
Here, we summarize them and try to make suggestions to banks for survival. Transactions
between the individuals would be made more convenient by the net banking. On the other hand,
banks will lose fees for person-to person money transfer and fees for ATM transactions. Internet
banking will bring about new opportunities for banks to gain handling charge from customers by
expanding customers base and will reduce the operational cost of banks drastically. However,
since the entry barrier to Internet banking is low, banks which fails to make strategy about
Internet banking will decline. For case (3), banks can enjoy new opportunities to gain handling
charge to deal with Digital Money. On the other hand, banks may lose all information, handling
charge and credit business by Smart Card and Digital Money. Banks must promote the favorable
methods and join to construct the new rules to profit all the participants when they promote these
methods. By netting through EDI, transactions between companies will be compressed and the
companies might take over some portion of the settlement function that banks have traditionally
con ducted. Banks would lose money, and lose control on companies by losing information on
the business movements accompanied with the transactions. In order to overcome the threat,
banks should expand their business area by acquiring the knowledge of the technology and
business related to the EDI and providing total integrated finance systems to companies. We
found new payment methods are not only a threat but also a potential benefit to banks, which is
somewhat contradictory to what we might have expected. Banks should realize the profit and
cost to promote new payment systems and to not deal with new payment methods at all. They
also should realize how they can leverage the expertise on settlement and technology in order to
survive.

E-banking offers a higher level of convenience for managing one’s finances. However, it
continues to present challenges to financial security and personal privacy. Many people have had
their account details compromised, as a result of online banking. Thus, if one is going to use it
for financial transactions, he should be aware of the risks involved. Awareness of the risks and
problems enables him to take precautions for a more secure online banking experience. The e-
Banking system is not only popular nationally, but also internationally, where a person can
transfer money through any part of the world. The e-banking system is useful for bankers as well
as customers of banks.
E-banking offers a higher level of convenience for managing one's finances. Online banking
significantly reduces the banks' operating cost by reducing reliance on a branch network, and
offers greater convenience to some customers by lessening the need to visit a branch bank as
well as the convenience of being able to perform banking transactions even when branches are
closed.
 E-COMMERCE

INTRODUCTION

E-Commerce, also known as electronic commerce or internet

commerce, is an activity of buying and selling goods or services
over the internet or open networks. So, any kind of transaction
(whether money, funds, or data) is considered as E-
commerce. So, E-commerce can be defined in many ways, some
define E-Commerce as buying and selling goods and services
over the Internet, others define E-Commerce as retail sales to
consumers for which the transaction takes place on open
networks. The buying and selling of products, services, and digital products through the Internet
all fall under the umbrella of e-commerce.

“All forms of transactions relating to commercial activities, including both organizations and
individuals, which are based on the processing and transmission of digitized data including text,
sound, and visual images.” According to this view, E-commerce does not necessarily require the
use of the Internet. E-commerce includes all forms of transactions that process and transmit
digitized data which includes text, sound, and visual images.

E-commerce is the application of information technology and communication technology to

three basic activities related to commercial business; the three basic activities are as follows:

1. Production and support- which includes assisting production, distribution, and

maintenance of goods and services.
2. Transaction preparation- which includes getting product information into the market-
place and bringing buyers and sellers into contract with each other; and
3. Transaction completion- which includes concluding transactions, transferring payments,
and securing financial services.
ORIGIN OF E-COMMERCE
E-commerce originated in a standard for the exchange of business documents, such as orders
or invoices, between suppliers and their business customers. Those origins date to the 1948–
49 Berlin blockade and airlift with a system of ordering goods primarily via telex.

ORGIN OF E-COMMERCE IN INDIA

The introduction of internet in India in 1995 marked the beginning of the first wave of e-
commerce in the country. Moreover, the economic liberalization after the launch of reforms
in 1991 attracted Multi-National Corporations (MNCs) and caused for a significant growth in
Information Technology (IT) industry.

DISCUSSION ON E-COMMERCE

BRIEF DISCUSSION ABOUT E-COMMERCE

E-commerce (electronic commerce) is the buying and selling of goods and services, or the
transmitting of funds or data, over an electronic network, primarily the internet. These
business transactions occur either as business-to-business (B2B), business-to-consumer
(B2C), consumer-to-consumer or consumer-to-business.
The terms e-commerce and e-business are often used interchangeably. The term e-tail is also
sometimes used in reference to the transactional processes that make up online retail
shopping.
In the last two decades, widespread use of e-commerce platforms such as Amazon and eBay
have contributed to substantial growth in online retail. In 2011, e-commerce accounted for
5% of total retail sales, according to the U.S. Census Bureau. By 2020, with the start of the
COVID-19 pandemic, it had risen to over 16% of retail sales.

How does e-commerce work?

E-commerce is powered by the internet. Customers access an online store to browse through
and place orders for products or services via their own devices.
As the order is placed, the customer's web browser will communicate back and forth with the
server hosting the e-commerce website. Data pertaining to the order will be relayed to a
central computer known as the order manager. It will then be forwarded to databases that
manage inventory levels; a merchant system that manages payment information, using
applications such as PayPal; and a bank computer. Finally, it will circle back to the order
manager. This is to make sure that store inventory and customer funds are sufficient for the
order to be processed.
After the order is validated, the order manager will notify the store's web server. It will
display a message notifying the customer that their order has been successfully processed.
The order manager will then send order data to the warehouse or fulfillment department
letting it know the product or service can be dispatched to the customer. At this point
tangible or digital products may be shipped to a customer, or access to a service may be
granted.
Platforms that host e-commerce transactions include online marketplaces that sellers sign up
for, such as Amazon; software as a service (SaaS) tool that allow customers to "rent" online
store infrastructures; or open-source tools that companies manage using their in-house
developers.

TYPES OF E-COMMERCE
Business-to-business (B2B) e-commerce refers to the electronic exchange of products,
services or information between businesses rather than between businesses and consumers.
Examples include online directories and product and supply exchange websites that let
businesses search for products, services and information and initiate transactions through e-
procurement interfaces. A Forrester report published in 2018 predicted that by 2023, B2B e-
commerce will reach $1.8 trillion dollars and account for 17% of U.S. B2B sales.

Business-to-consumer (B2C) is the retail part of e-commerce on the internet. It is when

businesses sell products, services or information directly to consumers. The term was popular
during the dot-com boom of the late 1990s, when online retailers and sellers of goods were a
novelty.

Today, there are innumerable virtual stores and malls on the internet selling all types of
consumer goods. Amazon is the most recognized example of these sites. It dominates the
B2C market.

Consumer-to-consumer (C2C) is a type of e-commerce in which consumers trade products,

services and information with each other online. These transactions are generally conducted
through a third party that provides an online platform on which the transactions are carried
out.

Online auctions and classified advertisements are two examples of C2C platforms. EBay and
Craigslist are two well-known examples of these platforms. Because eBay is a business, this
form of e-commerce could also be called C2B2C -- consumer-to-business-to-consumer.
Platforms like Facebook marketplace and Depop -- a fashion reselling platform -- also enable
C2C transactions.

Consumer-to-business (C2B) is a type of e-commerce in which consumers make their

products and services available online for companies to bid on and purchase. This is the
opposite of the traditional commerce model of B2C.

A popular example of a C2B platform is a market that sells royalty-free photographs, images,
media and design elements, such as iStock. Another example would be a job board.
Business-to-administration (B2A) refers to transactions conducted online between companies
and public administration or government bodies. Many branches of government are
dependent on various types of e-services or products. These products and services often
pertain to legal documents, registers, social security, fiscal data and employment. Businesses
can supply these electronically. B2A services have grown considerably in recent years as
investments have been made in e-government capabilities.

Consumer-to-administration (C2A) refers to transactions conducted online between

consumers and public administration or government bodies. The government rarely buys
products or services from individuals, but individuals frequently use electronic means in the
following areas:

 Social security. Distributing information and making payments.

 Taxes. Filing tax returns and making payments.
 Health. Making appointments, providing test results and information about health
conditions, and making health services payments.

Mobile e-commerce (m-commerce) refers to online sales transactions using mobile devices,
such as smartphones and tablets. It includes mobile shopping, banking and payments. Mobile
chatbots facilitate m-commerce, letting consumers complete transactions via voice or text
conversations.

SCOPE OF E-COMMERCE

The potential for e-commerce development is enormous. Now a days one can buy products
online through some sites like Flipkart and Amazon. In the age of e-commerce everything
from gym equipment to laptops are available online. E-Commerce is a super set of business
cases. It includes E-trading, E-Franchising, E-Mailing, E-Engineering etc. Scope of e-
commerce can be enumerated as follows:

1. Exchange of digitized information

2. Technology-enabled
3. Customers retention

4. Accounting

5. Supplier integration

6. Support the exchange

 Exchange of digitized information: The digitized information exchange can represent

communications between two parties, coordination of the flow of goods and service, or
transmission of electronic orders. This exchange can be between organizations or
individuals.
 Technology-enabled: E-Commerce is about technology-enabled transactions. Web
browsers are perhaps the best Know of these technology-enabled customer interfaces.
However, other interfaces including automated teller machines (ATMs) also fall in the
general category of e-commerce. Business once managed transactions with customers
and markets strictly through human interaction; In e-commerce, such transitions can be
managed using technology.
 Customers retention: E-Commerce enables organizations to get classified and
customized market information that helps in retaining customers through fast order
fulfillment and effective customers relationship management (CRM). End-to-End supply
chain management in e-commerce provides the opportunity the overall flow of demand
and supply and results in fruitful customers retention.
 Accounting: Financial accounting, treasury management and asset management are best
possible in e-commerce because of integrated database. Financial planning and strategy
determination become more convenient in e-commerce.
 Supplier integration: For lowering inventory-carrying costs and broader availability of
material and opportunities suppliers network can be integrated through EDI to implement
just-in-time (JIT) inventory management.
 Support the exchange: E-Commerce includes intra and interorganizational activities that
support the exchange. The scope of e-commerce includes all electronically based intra
and interorganizational activities that directly or indirectly support marketplace exchange.
 In this sense, we are talking about a phenomenon that affects both How business
organizations relate to external parties’ customers, suppliers, partners, competitors, and
markets and how they operate internally in managing activities, processes and systems.

ADVANTAGES AND DISADVANTAGES

ADVANTAGES OF E-COMMERCE-:

 A Larger Market: E-Commerce allows individuals to reach customers all across the
country and all around the world. E-Commerce gives business owners the platform to
reach people from the comfort of their homes. The customers can make any purchase
anytime and anywhere, and significantly more individuals are getting used to shopping
on their mobile devices.
 Customer Insights Via Tracking And Analytics: Whether the businesses are sending the
visitors to their eCommerce website via PPC, SEO, ads, or a good old postcard, there is a
way of tracking the traffic and the consumers’ entire user journey for getting insights into
the keywords, marketing message, user experience, pricing strategy, and many more.
 Fast Response to The Consumer Trends And The Market Demands: Especially for the
business people who do “drop ship,” the logistics, when streamlined, allow these
businesses to respond to the market and the trends of eCommerce and demands of the
consumers in a lively manner. Business people can also create deals and promotions on
the fly for attracting customers and generate more sales.
 Lower Cost: With the advancement of the eCommerce platforms, it has become very
affordable and easy to set up and run an eCommerce business with a lower overhead.
Business people no longer need to spend a big budget on TV ads or billboards, nor think
about personnel and real estate expenses.
 More Opportunities For “Selling.”: Business people can only offer a limited amount of
information about a product in a physical store. Besides that, eCommerce websites give
them the space to include more information like reviews, demo videos, and customer
testimonials for helping increased conversion.
 Personalized Messaging: E-Commerce platforms give people in business the opportunity
to provide personalized content and product recommendations for registering customers.
 These targeted communications can help in increasing conversion by showing the most
relevant content to the visitor.
 Increased Sales Along with Instant Gratification: For businesses selling digital goods,
eCommerce allows them to deliver products within seconds of placing an order. This
satisfies the needs of the consumers for instant gratification and assists increase sales,
especially for the low-cost objects that are often known as “impulse buys.”
 Ability to Scaling Up (Or Down) Quickly Also Unlimited “Shelf Space.”: The growth of
any online business is not only limited by the availability of space. Even though logistics
might become an issue as one’s business grows, it’s less of a challenge compared to
running any brick-and-mortar store. E-Commerce business owners can choose to scale up
or down their operation quickly by taking advantage of the non-ending “shelf space,” as a
response to the market trends and demands of consumers.

DISADVANTAGES OF E-COMMERCE-:

 Lack of Personal Touch: Some customers appreciate the personal touch they offer when
visiting a physical store by interacting with the sales associates. Such personal touch is
especially essential for businesses that sell high-end products as customers will want to
buy the products and have an excellent experience during the process.
 Lack of Tactile Experience: No matter how good a video is made; customers still can’t
feel and touch a product. Not to mention, it’s never an easy task to deliver a brand
experience that could often be including the sense of touch, taste, smell, and sound via
the two-dimensionality of any screen.
 Product and Price Comparison: With online shopping, customers can compare several
products and find the least price. This forces many businesses to compete on price and
reduce their profit margin, reducing the quality of products.
 Need for Access to the Internet: This is obvious, but don’t forget that the customers do
need access to the Internet before purchasing from any business! As many eCommerce
platforms have the features and functionalities which require a high-speed Internet
 connection for an optimal consumer experience, there’s a chance that companies are
excluding visitors who have slow internet connections.
 Credit Card Fraud: Credit card frauds are a natural and growing problem for online
businesses. It can lead to many chargebacks, which result in the loss of penalties,
revenue, and a bad reputation.
 IT Security Issues: More and more organizations and businesses have fallen prey to
malicious hackers who have stolen information of the customers from their databases.
This could have financial and legal implications, but it also reduces the company’s trust.
 All the Eggs in One Basket: E-Commerce businesses rely solely or heavily on their
websites. Even just some minutes of downtime or technology glitches could be resulting
in a substantial revenue loss and customer dissatisfaction.
 Complexity in Regulations, Taxation, and Compliance: Suppose any online business sells
to its consumers in different territories. In that case, they will have to stick to the
regulations in their own countries or states and their consumers’ places of residence. This
could be creating a lot of complexities in accounting, taxation, and compliance.

APPLICATIONS

APPLICATION OF THE E-COMMERCE

Retail and Wholesale

Ecommerce has numerous applications in this sector. E-retailing is basically a B2C, and in
some cases, a B2B sale of goods and services through online stores designed using virtual
shopping carts and electronic catalogs. A subset of retail ecommerce is m-commerce, or
mobile commerce, wherein a consumer purchases goods and services using their mobile
device through the mobile optimized site of the retailer. These retailers use the E-payment
method: they accept payment through credit or debit cards, online wallets or internet
banking, without printing paper invoices or receipts.
 Online Marketing

This refers to the gathering of data about consumer behaviors, preferences, needs, buying
patterns and so on. It helps marketing activities like fixing price, negotiating, enhancing
product features, and building strong customer relationships as this data can be leveraged to
provide customers a tailored and enhanced purchase experience.

Finance

Banks and other financial institutions are using e-commerce to a significant extent.
Customers can check account balances, transfer money to other accounts held by them or
others, pay bills through internet banking, pay insurance premiums, and so on. Individuals
can also carry out trading in stocks online, and get information about stocks to trade in from
websites that display news, charts, performance reports and analyst ratings of companies.

Manufacturing

Supply chain operations also use ecommerce; usually, a few companies form a group and
create an electronic exchange and facilitate purchase and sale of goods, exchange of market
information, back-office information like inventory control, and so on. This enables the
smooth flow of raw materials and finished products among the member companies and with
other businesses.

Online Booking

This is something almost every one of us has done at some time – book hotels, holidays,
airline tickets, travel insurance, etc. These bookings and reservations are made possible
through an internet booking engine or IBE. It is used the maximum by aviation, tour
operations and hotel industry.

Online Publishing

This refers to the digital publication of books, magazines, catalogues, and developing digital
libraries.
 Digital Advertising

Online advertising uses the internet to deliver promotional material to consumers; it involves
a publisher, and an advertiser. The advertiser provides the ads, and the publisher integrates
ads into online content. Often there are creative agencies which create the ad and even help
in the placement. Different types of ads include banner ads, social media ads, search engine
marketing, retargeting, pop-up ads, and so on.

Auctions

Online auctions bring together numerous people from various geographical locations and
enable trading of items at negotiated prices, implemented with e-commerce technologies. It
enables more people to participate in auctions. Another example of auction is bidding for
seats on an airline website – window seats, and those at the front with more leg room
generally get sold at a premium, depending on how much a flyer is willing to pay.

E-Commerce is all around us today, and as an entrepreneur, you should also get into this
realm if you want to expand your markets, get more customers, and increase your
profitability.

FUTURE OF E-COMMERCE

Over the years, the online commerce has grown rapidly and transformed the retail. This was
further enhanced after the pandemic of the new coronavirus, which forced the population to
stay at home, online shopping were the best option.

But, with so many new technologies and advances in the industry, e-commerce itself has
undergone major transformations. And, for sure, this is just the beginning.

Here we list some of the trends for the coming years. Some are already part of our daily lives,
but they will become stronger. Others are almost on the verge of becoming a reality, and
there are those that will probably need some time to settle down - but it is good to get ready.
So, let's see what the future of e-commerce has in store?

1) Revenue of $ 3,4 trillion in 2025

2) Delivery drones

3) Omnichannel experience

4) Various payment options

5) M-commerce on the rise

6) Experience customization

7) Visual stimuli

8) Automated service

9) Sustainability and social responsibility

10) Voice search and voice commerce

SUMMARY AND CONCLUSIONS

CONCLUSION AND RECOMMENDATION

In general, today’s businesses must always strive to create the next best thing that consumers
will want because consumers continue to desire their products, services etc. to continuously
be better, faster, and cheaper. In this world of new technology, businesses need to
accommodate to the new types of consumer needs and trends because it will prove to be vital
to their business’ success and survival. E-commerce is continuously progressing and is
becoming more and more important to businesses as technology continues to advance and is
something that should be taken advantage of and implemented.
From the inception of the Internet and e-commerce, the possibilities have become endless for
both businesses and consumers. Creating more opportunities for profit and advancements for
businesses, while creating more options for consumers. However, just like anything else, e-
commerce has its disadvantages including consumer uncertainties, but nothing that cannot be
resolved or avoided by good decision-making and business practices.

There are several factors and variables that need to be considered and decided upon when
starting an e-commerce business. Some of these include: types of e-commerce, marketing
strategies, and countless more. If the correct methods and practices are followed, a business
will prosper in an e-commerce setting with much success and profitability.
 BIBLIOGRAPHY

I HAVE TAKEN HELP FROM THE FOLLOWING SITES

SITES-:

WIKIPEDIA.COM

X-CART.COM

LINKDIN.COM

SUPPORT.MICROSOFT.COM

BOOKS-:

MASTERING MS-OFFICE

THE COMPLETE E-COMMERCE