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Net banking: UP beats ?Cyber-abad?

UTTAR PRADESH has sprung a surprise in the Net age. It has stolen a march over cyber-savvy Andhra Pradesh in online banking. All this is thanks to UP's relatively larger base of online banking system users, according to the latest survey released by Internet and Mobile Association of India (IMAI).

india Updated: Apr 08, 2006 01:33 IST

UTTAR PRADESH has sprung a surprise in the Net age. It has stolen a march over cyber-savvy Andhra Pradesh in online banking.

All this is thanks to UP's relatively larger base of online banking system users, according to the latest survey released by Internet and Mobile Association of India (IMAI).

Though the Andhra capital Hyderabad is known the world over as a frontline hub of the Indian information technology sector, it is UP that has the edge with 5.3 per cent customers using online banking facilities.

The percentage for Andhra Pradesh is 4.6. There are an estimated 4.6 million users (not a complete representation) in the country.

The overall lead is taken by Maharashtra with 28.7 per cent users followed by Delhi (17.7 per cent), Tamil Nadu (10.3 per cent) and Karnataka (8.3 per cent).

The online banking platform attracts the younger generation (68 per cent) between the age group of 18 to 35 years, according to the survey. Among youngsters, 85 per cent of the users hold a graduate or a post-graduate degree.

The survey further says 51 per cent of users find “convenience” the most important factor. Another 38 per cent say checking bank balances and statements at the click of a mouse is one of the USPs of the system.

Forty-five per cent of the users resort to banking online on weekdays and weekends, 17 per cent between 6 pm and 9 pm, and 15 per cent between 9 pm and midnight.

The survey says 42 per cent of the users have viewed their credit and debit card transaction history and updates on a bank website. About 27 per cent have viewed information regarding their Demat account.

The survey reveals two distinct categories of users. The first check account balances and information on cheque clearance (24 per cent). The second actually perform financial transactions and pay bills online.

First Published: Apr 08, 2006 01:33 IST