CHAPTER 01

INTRODUCTION

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I.I INTRODUCTION
Banking is a fundamental component of the modern economic system,
playing a crucial role in facilitating financial transactions, promoting economic growth, and
supporting the overall financial stability of a country. Banks are financial institutions that
provide a wide range of services to individuals, businesses, and governments.

1.1.1 DEFINITION OF BANKING

Banking can be defined as the business activity of accepting and safeguarding
money, as well as providing loans, credit, and various financial services, with the primary
goal of facilitating economic transactions and promoting the financial well-being of
individuals, businesses, and governments. Banks, as financial institutions, play a central role
in the economic system by channelling funds from savers to borrowers, managing risks, and
contributing to the overall stability of the financial system. The scope of banking activities
encompasses a wide range of services, including accepting deposits, granting loans,
facilitating payments, and offering investment and advisory services. Banking is subject to
regulatory oversight to ensure the integrity and stability of the financial system.

 Accepting Deposits: Banks provide a safe place for individuals and businesses
to deposit their money. Customers can open various types of accounts, such as
savings accounts, current accounts, and fixed deposits.

 Providing Loans: Banks lend money to individuals, businesses, and

governments for various purposes, such as buying a home, starting a business,
or funding public projects. Interest is charged on these loans, generating
revenue for the bank.

 Investing in Securities: Banks invest in various financial instruments, such as

government bonds and corporate securities, to earn returns on their surplus
funds.

 Facilitating Transactions: Banks play a vital role in facilitating transactions by

providing services such as electronic funds transfers (EFT), issuing checks,
and providing debit and credit card services

 Currency Exchange: Banks facilitate international trade and travel by

providing foreign exchange services, allowing customers to buy and sell
different currencies.

 Providing Safe Deposit Boxes: Banks offer safe deposit boxes to customers
for secure storage of valuable items such as important documents and
valuables.

 Online Banking: With technological advancements, banks provide online

platforms for customers to access their accounts, transfer funds, pay bills, and
conduct various financial transactions.

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Regulation and Supervision:
Banks are subject to strict regulations and supervision by government authorities, such as
central banks and financial regulatory bodies.

1.1.2 BANKING IN INDIA

Banking refers to the system of financial institutions, such as banks and credit
unions, that provide various financial services to individuals, businesses, and governments.
Banking services mainly include accepting deposits, lending money, facilitating transactions,
and offering various financial products like savings accounts, loans, and credit cards.

Banking plays a crucial role in the economy by facilitating the flow of money and enabling
economic activities.

1.1.3 Types of Banks in India

1)Central Banks

The Reserve Bank of India (RBI) serves as the Central Bank of India and is responsible for
regulating and controlling the monetary and banking system in the country.

“India’s BFSI sector is projected to grow at a CAGR of 8.6% between 2023-2028,

exceeding global average growth and fueled by factors like rising disposable incomes
and urbanisation.”

2) Commercial Banks

These are the most common types of banks and include public sector banks, private sector
banks, and foreign banks. They provide various services like savings and current
accounts, loans, and investments.

These are the most common types of banks and include public sector banks, private sector
banks, and foreign banks. They provide various services like savings and current accounts,
loans, and investments.

 Public Sector Banks: Owned and operated by the government, examples include State
Bank of India (SBI), Punjab National Bank (PNB), and Bank of Baroda (BOB).

 Private Sector Banks: These are privately owned and managed banks, such as HDFC
Bank, ICICI Bank, and Axis Bank.

 Foreign Banks: These banks have branches in India and are headquartered in foreign
countries. Some examples are Citibank, Standard Chartered, and HSBC.

 Regional Rural Banks (RRBs): These banks cater to rural and semi-urban areas and
are owned by the government, commercial banks, and state governments.

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Table 1.1 Table showing the list of commercial bank in India

Commercial Banks in India

Public Sector Banks Private Sector Banks Foreign Banks

 Bank of  I.C.I.C.I. Bank  Australia and New

Maharashtra Zealand Banking
 R.B.L. Bank Group Ltd.
 Indian Bank
 I.D.F.C. Bank  National Australia
 Bank of Bank
Baroda  South Indian
Bank  Westpac Banking
 Canara Bank Corporation
 IDBI Bank
 State Bank  Bank of Bahrain &
of India  Tamilnadu
Mercantile Bank Kuwait BSC
 Central Bank  AB Bank Ltd.
of India  YES Bank

 Axis Bank  Credit Agricole

Corporate &
 City Union Bank Investment Bank

 Union Bank  Societe Generale

of India  Karnataka Bank  Deutsche Bank
 Indian  Dhanlaxmi Bank  HSBC Bank
Overseas
Bank  Kotak Mahindra  PT Bank Maybank
Bank Indonesia

 D.C.B. BANK

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3) Cooperative Banks

A Co-operative Bank is registered under the Co-operative Societies Act of

1912 and is run by an elected managing committee. It works on a non-profit, no-loss basis
and mainly serves entrepreneurs, small businesses, self-employment, and more in urban
areas.

Table 1.2 Table showing the list of cooperative banks in India

Types of Description
Cooperative Bank

State Co-operative A State Co-operative Bank is a federation

Banks of the central Co-operative banks that will
act as a custodian of the Co-operative
banking structure in the State.

Urban Co- The Urban Co-operative Bank is the

operative Banks primary Co-operative bank located in
urban and semi-urban areas. The banks
essentially lent to smaller borrowers, and
businesses centred around a community,
locality, and more.

4) Payment Banks

The payment banks are a relatively new banking model in the country that
has been conceptualised by the RBI. This bank is allowed to accept a restricted deposit. This
amount is limited to Rs. 1 lakh for a customer. The bank also offers services such as ATM
cards, net banking and more.

Payments banks in INDIA include,

 India Post Payments Bank

 Airtel Payments Bank
 Fino Payments Bank
 Paytm Payments Bank
 NSDL Payment Bank
 JIO Payments Bank

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5) Small Finance Banks

These banks primarily serve the unserved and underserved sections of the
population, including small businesses and low-income individuals.

This type of bank is licensed under Section 22 of the Banking Regulation Act 1949, and it is
governed by the Provisions Act of 1934.

Here are a few examples of Small Finance Banks in India:

 AU Small Finance Bank Ltd.

 Utkarsh Small Finance Bank Ltd.

 Fincare Small Finance Bank Ltd.

 Jana Small Finance Bank Ltd.

 ESAF Small Finance Bank Ltd.

 Equitas Small Finance Bank Ltd.

 Capital Small Finance Bank Ltd.

6) Scheduled Banks

These banks are covered under the 2nd Schedule of RBI Act 1934, and they
need to have a paid-up capital of Rs. 5 lakhs or more.

Scheduled Banks of India include,

 Canara Bank
 Axis Bank
 HDFC bank
 Indian bank
 Indian Overseas Bank
 Punjab National Bank

7) Non-Scheduled Banks

The non-scheduled banks are local area banks that are not listed in the 2nd
Schedule of the RBI Act 1934.

 The Manipur State Cooperative Bank Ltd.

 The Sikkim State Cooperative Bank Ltd.

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1.2.1 Payments Bank

A payments bank is a type of bank that operates on a narrower scope

compared to traditional banks. The primary focus of a payments bank is to facilitate
transactions such as receiving deposits and making payments, rather than providing loans or
other traditional banking services. These banks are typically set up with the goal of extending
financial services to unbanked or underbanked populations, often in developing countries.

Payments banks are allowed to accept deposits up to a certain limit, usually capped by
regulatory authorities. However, they cannot issue loans or credit cards. Instead, they
typically offer services such as remittance services, mobile banking, bill payment facilities,
and savings accounts.

The establishment of payments banks is often seen as a means to promote financial inclusion
by providing basic banking services to people who may not have access to traditional banks.
They leverage technology, especially mobile and digital platforms, to provide convenient and
affordable banking services to a broader segment of the population.

1.2.2 Payments Bank in INDIA

 Airtel Payments Bank

 FINO Payments Bank
 India Post Payments Bank
 NSDL Payments Bank
 Paytm Payments Bank
 JIO Payments Bank

1.2.3 Objectives of Payments Bank

1. Financial Inclusion: One of the primary objectives of payments banks is to extend basic
banking services to unbanked and underbanked populations, particularly in rural and remote
areas where traditional banking infrastructure may be lacking.

2. Access to Banking Services: Payments banks aim to provide easy access to banking
services such as deposit accounts, remittance facilities, bill payment services, and other basic
financial products to individuals who may not have access to traditional banks.

3. Affordability: Payments banks typically offer low-cost banking services, making them
accessible to individuals from all socioeconomic backgrounds. By minimizing fees and
transaction costs, they aim to serve financially marginalized communities effectively.

4. Convenience: Leveraging technology, particularly mobile and digital platforms, payments

banks aim to provide convenient banking services that can be accessed anytime, anywhere.
This includes mobile banking apps, USSD codes, and other digital channels.

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5. Efficiency: Payments banks focus on streamlining financial transactions and reducing
paperwork and bureaucracy associated with traditional banking services. By embracing
digital innovation, they aim to make banking processes more efficient and seamless.

6. Promotion of Cashless Transactions: Payments banks often encourage cashless

transactions by offering digital payment solutions such as mobile wallets, prepaid cards, and
QR code-based payments. This helps in reducing reliance on cash and promoting a more
transparent and inclusive financial ecosystem.

7. Customer Education: Payments banks also aim to educate customers, particularly those
who are new to banking services, about financial literacy, the importance of savings, and
responsible use of banking products.

1.2.4 Advantages of Payments Bank

1. Financial Inclusion: Payments banks play a crucial role in extending basic banking services
to unbanked and underbanked populations, especially in rural and remote areas. By providing
easy access to deposit accounts, remittance services, and other financial products, payments
banks help promote financial inclusion.

2. Convenience: Payments banks leverage technology, such as mobile banking apps and
digital platforms, to offer convenient banking services that can be accessed anytime,
anywhere. Customers can perform transactions, check balances, and pay bills conveniently
using their mobile phones or computers.

3. Low-Cost Services: Payments banks typically offer low-cost banking services, making
them accessible to individuals from all socioeconomic backgrounds. They often have
minimal fees and transaction costs, which can be beneficial for customers, especially those
with limited financial resources.

4. Efficiency: Payments banks focus on streamlining financial transactions and reducing

paperwork and bureaucracy associated with traditional banks. By embracing digital
innovation, they make banking processes more efficient and seamless, leading to quicker
transactions and improved customer experience.

5. Cashless Transactions: Payments banks encourage cashless transactions by offering digital

payment solutions such as mobile wallets, prepaid cards, and QR code-based payments. This
helps in reducing the reliance on cash and promotes a more transparent and inclusive
financial ecosystem.

6. Accessibility: Payments banks aim to reach customers in remote or underserved areas

where traditional banking infrastructure may be lacking. Through mobile banking and other
digital channels, they can extend their services to a broader segment of the population,
including those in rural and remote regions.

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7. Financial Literacy: Payments banks often provide educational resources and tools to help
customers improve their financial literacy and make informed decisions about managing their
finances. This includes information about savings, budgeting, and responsible use of banking
products.

1.2.5 Disadvantages of Payments Bank

1. Limited Services: Payments banks are restricted from offering certain financial services
such as loans and credit facilities. This limitation may deter customers who require a broader
range of banking products and services beyond basic transactions and savings accounts.

2. Deposit Limits: Regulatory authorities often impose limits on the amount of deposits that
payments banks can accept from customers. These limits may restrict the ability of customers
to store larger sums of money in their accounts, potentially leading to inconvenience for those
with higher financial needs.

3. Lack of Interest on Deposits: Payments banks typically do not offer interest on deposits
held in savings accounts. For customers who prioritize earning interest on their savings, this
lack of interest-bearing accounts may be a drawback compared to traditional banks.

4. Dependence on Technology: Payments banks heavily rely on technology for delivering

their services. Any disruptions in digital infrastructure, such as internet connectivity issues or
system failures, can hinder customers' ability to access their accounts and perform
transactions.

5. Security Concerns: Like any digital banking platform, payments banks may be susceptible
to cybersecurity threats such as hacking, phishing, and unauthorized access to customer data.
Security breaches can compromise sensitive information and erode trust in the banking
institution.

6. Limited Reach: While payments banks aim to extend their services to underserved
populations, there may still be gaps in coverage, particularly in remote or rural areas with
poor infrastructure. This limitation can hinder financial inclusion efforts, leaving some
segments of the population without access to basic banking services.

7. Dependency on Partnerships: Payments banks often rely on partnerships with other

financial institutions and technology providers to deliver their services. Any issues or
conflicts with these partners could potentially disrupt the operations of the payments bank
and impact customer service.

8. Regulatory Challenges: Payments banks operate under regulatory frameworks that may
impose restrictions and compliance requirements. Adhering to these regulations can be
complex and costly, particularly for smaller payments banks with limited resources.

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1.3 COMPANY PROFILE

INDIA POST PAYMENTS BANK

Fig 1.1 picture showing the logo of India Post Payments Bank

India Post Payments Bank (IPPB) is a financial institution in India that was established with
the primary objective of providing banking services to the unbanked and underbanked
populations in the country. It operates under the Department of Posts, which is part of the
Ministry of Communications, Government of India. IPPB was launched on September 1,
2018, with the aim of leveraging India's extensive postal network to extend banking and
financial services to remote and rural areas.

 The idea of setting up a payments bank within the postal system was
conceptualized to enhance financial inclusion. With a vast network of post
offices across the country, India Post aimed to leverage its reach to bring
banking services to areas where traditional banking infrastructure was limited.

 India Post Payments Bank is 100% owned by the Government of India. It

operates as a public sector bank and is under the administrative control of the
Department of Posts.

 One of the primary objectives of IPPB is to promote financial inclusion by

providing basic banking and financial services to the unbanked and
underbanked populations. This includes services like savings accounts, current
accounts, remittances, and other simple financial products.

 IPPB utilizes the vast postal network of India Post for its operations. With
thousands of post offices across urban and rural areas, IPPB aims to tap into
this infrastructure to extend banking services to even the remotest parts of the
country.

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  India Post Payments Bank provides a range of financial services, including
savings and current accounts, money transfer services, bill payments, and
mobile banking. It emphasizes digital transactions and aims to offer these
services through various channels, including mobile phones and ATMs.

 IPPB has entered into partnerships with various financial institutions,

including other banks and insurance companies, to expand its service
offerings. These collaborations help enhance the range of financial products
available to customers.

 The bank focuses on leveraging technology to streamline operations and

improve customer experience. It emphasizes the use of digital channels, such
as mobile banking apps and online platforms, to provide convenient and
accessible services.

 IPPB aligns with various government initiatives, including Pradhan Mantri Jan
Dhan Yojana (PMJDY), to promote financial inclusion. The bank plays a
crucial role in disbursing direct benefit transfers (DBT) and subsidies to
beneficiaries.

 As a banking institution, IPPB operates under the regulatory framework of the

Reserve Bank of India (RBI). It is subject to the same regulations and
supervision as other banks in the country.

SERVICES OF INDIA POST PAYMENTS BANK

Postman/GDS Services

IPPB offers banking services in rural, semi-urban and urban areas through Doorstep banking
services, powered by an efficient network of Postman/GDS. As a customer, you can avail the
Doorstep banking services at your communication address, be it residential or shop/business.
Features and Benefits

 Easy, Convenient and paperless account opening

 You can choose a time slot of your convenience for Doorstep banking
 Takes financial inclusion to the last mile of the nation/Enables banking even in the
most remote areas in the country

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Services provided by the GDS/Postman

Customer On-boarding
The GDS/Postman will open your requested type of account by visiting your registered
address. You can open any of the following accounts using this services

 Basic savings account

 Regular savings account
 Salary account
 Current account (This type of account can be opened in addition to any one of the
above three accounts)

Merchant On-boarding

 You can open a current account and avail Merchant Services through our
Postman/GDS at your doorstep
 Once on-board, you can enjoy digital payment acceptance solutions and manage your
day-to-day business activities efficiently

Account Services

 Cash deposit and withdrawals

 Instant money transfers
 Easy money transfers to your own as well as to other IPPB accounts
 Bill payments
 Account modification
 Domestic Money Transfer services for IPPB and Non-IPPB customers

Third Party Products

 Third-party insurance – Group term insurance

 Payments of DOP products like PPF, SSA, Rd and LARD
 Issuance of Digital Life Certificate

Other Account-Related Services

 Update PAN and nominee details

 Beneficiary management
 Request for account statement and related reports
 Add/delete standing instructions
 QR card re-issuance
 Aadhaar linking
 Share Complaints/Feedback with the GDS/Postman
 Upgrade Account and Update personal details through our Doorstep banking services
 Avail the facility of sweep-in and sweep-out at your doorstep.

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 1.4 RESEARCH GAP

 Limited Empirical Evidence: There might be a lack of scholarly research directly analyzing
IPPB's marketing initiatives. Existing studies might focus on traditional banks or digital
payment platforms, leaving a gap regarding IPPB's unique approach to reaching the unbanked
and underbanked.
 Effectiveness Measurement: Current research might not adequately assess the effectiveness
of IPPB's marketing strategies in achieving financial inclusion. Studies could delve deeper
into how well their campaigns reach target audiences and translate into actual account
opening and service usage.
 Technological Integration Evaluation: While the study proposes analyzing IPPB's use of
technology in marketing, a gap exists in evaluating its impact. Research could explore how
effectively technology is used to enhance customer experience, accessibility, and service
delivery, particularly in rural areas.
 Alignment with Policy Objectives: The analysis of IPPB's marketing strategy could be
strengthened by examining the alignment with broader government policies. Research could
explore if the marketing efforts demonstrably contribute to achieving national goals around
financial inclusion and digital literacy.
 Customer Segmentation and Targeting: A gap might exist in understanding how IPPB
segments its target audience and tailors its marketing messages. Research could explore the
effectiveness of their segmentation strategies in reaching diverse demographics within the
unbanked and underbanked population.
 Long-Term Sustainability: While the study highlights the importance of analyzing IPPB's
marketing strategy for investors, a gap exists in understanding long-term sustainability.
Research could explore how IPPB's marketing strategy plans to evolve to maintain customer
engagement and adapt to a changing competitive landscape.

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1.4 NEED FOR THE STUDY

With the establishment of IPPB as a significant player in India's banking sector,

understanding its marketing strategy becomes crucial for stakeholders, including
policymakers, investors, and consumers. As the banking landscape in India becomes
increasingly competitive with the presence of both traditional banks and digital payment
platforms, there's a need to analyse IPPB's marketing strategy to assess its competitiveness
and sustainability. IPPB has a mandate to promote financial inclusion by providing banking
services to the unbanked and underbanked population. Analysing its marketing strategy can
shed light on its efforts to reach and serve these marginalized communities effectively. The
integration of technology in banking services is rapidly evolving. Studying IPPB's marketing
strategy can reveal how it leverages technological advancements to enhance its service
offerings and customer engagement. Given IPPB's status as a government-owned entity,
understanding its marketing strategy can provide insights into the alignment of its initiatives
with broader policy objectives related to financial inclusion, digitalization, and economic
development. Marketing strategies influence how customers perceive and interact with a
bank. Investigating IPPB's marketing strategy can help gauge customer experiences,
satisfaction levels, and areas for improvement, thereby informing strategies to enhance
customer engagement and loyalty. For investors, understanding IPPB's marketing strategy is
crucial for assessing its growth potential, market positioning, and long-term viability, thereby
aiding investment decision-making processes. A study on IPPB's marketing strategy
contributes to academic research by providing insights into the dynamics of marketing
strategies in the banking sector, especially in the context of emerging economies like India.

1.5 OBJECTIVES OF THE STUDY

1. To analyse the existing marketing strategies employed by India Post Payments Bank
(IPPB).

2. To identify the target market segments of IPPB and assess their preferences, needs, and
behaviours.

3. To evaluate the effectiveness of current marketing channels utilized by IPPB in reaching

its target audience.

4. To investigate customer perceptions, satisfaction, and loyalty towards IPPB's marketing

initiatives.

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 CHAPTER 02

REVIEW OF LITERATURE

15
II. REVIEW OF LITERATURE

1. Manoj Minj-2021, The digital environment of post offices today helps rural
populations to have easier and more inexpensive access to free, electronic banks and
insurance facilities. The financial facility was brought to the door by the IPPB and
DARPAN. There is also a significant contribution from postal agencies at a national
level. India Post will hopefully be a better point of contact for all citizen-centred
services like Aadhar and will thus support sustainable development goals such as
lowering poverty, gender equality and reducing inequality.

2. Catherine eliz thomas, Chinnu manilal, Daewoo venugopal, Donna dhilan,

Donna susan george-2018, India Post Payments Bank must be competitive enough to
strive with the facilities provided by the commercial banks, as public have more
accounts with the latter. Through the help of the study, we have come to a conclusion
that majority of the public are not aware of the banking services provided in the post
offices. Therefore, better advertisements should be released by the postal departments
to attract the public

3. Bhargavi-2018, The India Post Payments Bank established by the Department of

Posts has an enormous potential to be one of the most convenient & accessible
banking network in a developing country like India. With the age – old traditional
postal delivery system when combined with a digital platform such as internet
banking, mobile banking, prepaid instruments, debit cards, availability ATMs, point
of sale devices, the India Post Payments bank is set to be the face a new
transformation of post offices and be a major drive for financial inclusion initiative by
the Government of India

4. Dr. S. Tamilarasi, Ms.D. Bhuvaneswari, The Payment bank is innovative activity of

Department of Post. Most extreme number of individuals have Phone number through
that they can utilize the saving money office. This new idea will inspire the clients in
future yet it likewise have a few bad marks. On the off chance that Airtel industry
center the bad marks then this idea might be a major test to conventional managing an
account industry

5. Gerald P. Dwyer Jr-2007, The historical record is consistent with the suspension
being important. The states are so similar that Illinois even passed a law to allow
suspension, but the law was irrelevant because the law required that banks restore
their bond accounts while bond prices continued falling substantially. Our evidence is
not based on a controlled experiment and it is possible that, even with a law identical
to that in Wisconsin, banks in Illinois

16
6. Dr. Sangappa S Rampure1 and Vishnuvardhan Subhash-2019, But not sufficient
awareness is present among the people, and hence adequate awareness programs need
to be organised by either the government, or the payment banks as their marketing
strategy so that the customers can make informed decisions. People need to know that
the payment banks are as secure and trustworthy, or even more, than the current
commercial banks and the benefits that come along.

7. Martina Franciska & Dr. S. Sahayaselvi-2017, In future the digital payments are
going to be a must and so the change in the habits of the people to accept the digital
payment is also must. The cashless transition is not only safer than the cash
transaction but is less time consuming. It also helps in record of the all the transaction
done. India has more than 100 crore active mobile connections and more than 22
crore smart phone users as of March 2016

8. Jeffrey M. Lacker-2006, First, understanding payments arrangements and the

appropriate role of the central bank requires a clear understanding of private
arrangements and private incentives in settings where the services (like payment
clearing and settlement) involve multilateral benefits and shared costs. That is, models
of payment behaviour and analyses of payment policy should respect Baxter’s Dictum
to evaluate effects on all parties to a payment arrangement

9. Carol Ann Northcott-2004, A competitive environment promotes allocative

efficiency by encouraging the greatest supply of credit at the lowest price. A banking
system that exhibits some degree of market power, however, may improve credit
availability to certain firms, and it may provide incentives for banks to screen loans,
which aids efficient allocation of resources

10. George Kaufman-1994, Commercial banking has been traditionally viewed as less
risky by investors and creditors (depositors) and been permitted to operate with lower
capital-to-asset ratios than nonfinancial firms. This was true before the introduction of
federal deposit insurance, when it was justified by the low failure and loss rates
relative to nonfinancial firms, as well as after, when the deposit insurance agency
assumed most of the depositor losses. But deposit insurance has helped permit bank
capital ratios to decline to levels that cannot adequately protect banks against the
magnitude of shocks being currently generated by the financial markets and the
macroeconomy

17
11. Saba Abid-2017, The inclusion of Payment Banks in India is a big positive disruption
to the banking sector and would surely see the cost associated with transfer of money
or settlements diminish dramatically for end users. Payment banks have been bounded
in banking operations, as they will not be allowed to do a business of lending
activities. Indeed, there is a question about who will take care of the credit needs of
the unbanked. RBI evoke that Payment Banks will serve as a channel to allow people
to eventually migrate to full-service banks, which is quite likely. Certainly payment
banks will be a game changer.

12. Chabi Gupta-2016, The Indian economy is on the brink of a major transformation,
with several policy initiatives set to be implemented shortly. Positive business
sentiments, improved consumer confidence and more controlled inflation are likely to
prop-up the country ‘s the economic growth. Enhanced spending on infrastructure,
speedy implementation of projects and continuation of reforms are expected to
provide further impetus to growth. All these factors suggest that India ‘s banking
sector is also poised for robust growth as the rapidly growing business would turn to
banks for their credit needs.

13. Geetha. M. Iyer-2018, From the research, we can note that the target market of the
payment banks, i.e., the small business owners, migrant worker, and other people
from small income groups are willing to use payment banks if they are aware of the
same. But not sufficient awareness is present among the people, and hence adequate
awareness programs need to be organised by either the government, or the payment
banks as their marketing strategy so that the customers can make informed decisions.

14. Dr. Charusheela Birajdar, Akshata joshi-2013, Even though the customers are not
highly satisfied with the existing postal services still India Post is having a brand
equity and image in the minds of customer. The big merit of India Post is its huge
customer base. Since last many years it is successfully providing the variety of
services to the citizens of India.Still people have great faith in the postal services. The
perceptions of the customers regarding India Post are clear even though there is lack
of professional culture, due to the reasons like rare cases of frauds and malpractices as
well as government support. The small investors get good returns in case of financial
services offered by the department of post. The wide spread network of post offices
and its brand equity are the major strengths of the India Post. The people find it safer
compared to other alternatives for financial transactions. The India Post can be the
leader in the market if appropriate measures are taken to improve the operations and
efficiency.

18
15. Aayasha Nawaz, Dr. Deepak Mishra-2018, This necessitates the understanding of
the factors contributing to customer satisfaction. Although existing studies have tried
to understand the factors, the determination of the factors has been done based on
existing models of customer satisfaction. This required an exploratory study to find
the factors contributing to customer satisfaction in retail banking. From the existing
literature, none of the previous researchers seem to have done it for the retail banking
sector

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 CHAPTER 03

RESEARCH METHODOLOGY

20
 III. RESEARCH METHODOLOGY

3.1 CONCEPTUAL FRAMEWORK

Marketing
Strategy

Payments Bank Customer Acquisition

Financial
Inclusion

The study on the marketing strategy of India Post Payments Bank focuses on leveraging
innovative customer acquisition methods to enhance financial inclusion through targeted
outreach campaigns, thereby establishing the payments bank as a pivotal player in expanding
access to banking services across diverse socio-economic segments.

21
3.2.1 Statistical Tools

"Statistical tools" refer to a wide range of techniques, methods, and software used for
analysing, interpreting, and visualizing data in statistics and data analysis.

1. Descriptive Statistics: Techniques for summarizing and describing the characteristics of a

dataset, including measures of central tendency (mean, median, mode), measures of
dispersion (standard deviation, variance, range), and measures of distribution shape
(skewness, kurtosis).

2. Inferential Statistics: Methods for making inferences and predictions about populations
based on sample data, including hypothesis testing, confidence intervals, and regression
analysis.

3. Probability Distributions: Mathematical functions that describe the likelihood of different

outcomes in a random experiment, such as the normal distribution, binomial distribution, and
Poisson distribution.

4. Parametric Tests: Statistical tests that make assumptions about the underlying distribution
of data, such as t-tests, analysis of variance (ANOVA), and chi-square tests.

5. Nonparametric Tests: Statistical tests that do not require assumptions about the underlying
distribution of data, such as the Wilcoxon rank-sum test, Kruskal-Wallis test, and Mann-
Whitney U test.

6. Regression Analysis: Techniques for modelling the relationship between one or more
independent variables and a dependent variable, including linear regression, logistic
regression, and polynomial regression.

7. Time Series Analysis: Methods for analysing data collected over time to identify patterns,
trends, and seasonal effects, such as autocorrelation, moving averages, and exponential
smoothing.

8. Multivariate Analysis: Techniques for analysing datasets with multiple variables to identify
relationships and patterns among variables, including principal component analysis (PCA),
factor analysis, and cluster analysis.

9. Statistical Software: Software packages and programming languages specifically designed

for statistical analysis and data visualization, such as R, Python (with libraries like NumPy,
Pandas, and SciPy), SAS, SPSS, and MATLAB.

10. Data Visualization: Tools for creating visual representations of data to facilitate
exploration, interpretation, and communication of findings, including graphs, charts,
histograms, and heat maps.

22
3.2.2 Statistical tools used
These are just a few examples of statistical tools commonly used in data analysis. The choice
of tools depends on the nature of the data, the research questions or objectives, and the
preferences and expertise of the analyst.

Descriptive Statistics:
 Frequency Tables: These tables show how often each value (e.g., income bracket,
profession) appears in the data. This is helpful for understanding the basic distribution
of your data.
 Percentages: Converting raw frequencies to percentages allows for easier comparison
between categories, especially when dealing with different sample sizes. Measures of
Central Tendency: These statistics (mean, median, mode) provide a single value that
summarizes the "center" of your data. They can be helpful for understanding the
typical value in a dataset.
o Mean (average): This is the sum of all the values divided by the number of
values. It can be sensitive to outliers (extreme values).
o Median: The middle value when the data is ordered from least to greatest.
o Mode: The most frequent value in the data.
Visualizations:
 Bar Charts: These charts are useful for displaying categorical data (e.g., profession,
downloaded the app or not) and comparing the frequencies of each category.
 Pie Charts: Similar to bar charts, pie charts represent categorical data but focus on
showing the proportion of the whole that each category represents.
 Inferential Statistics: These are less likely used with the data you provided, but useful
for future reference

23
3.3.1 Sampling

Sampling means selecting the group that will actually collect data from in your research.
Samples are used to make inferences about populations. Probability sampling means that
every member of the target population has a known chance of being included in the sample.

Sampling refers to the process of selecting a subset of items or individuals from a larger
population with the aim of making inferences or generalizations about the population. In
various fields such as statistics, research, and data analysis, sampling is a fundamental
technique used to study a population without having to examine every single member of that
population, which might be impractical or impossible.

There are different sampling techniques, including:

1. Random Sampling: Every member of the population has an equal chance of being selected.
This method helps to minimize bias and ensures that the sample is representative of the
population.

2. Stratified Sampling: The population is divided into subgroups or strata, and then samples
are randomly selected from each subgroup proportionally to the population size of the
subgroup. This technique ensures representation from each subgroup.

3. Systematic Sampling: Members of the population are selected at regular intervals. For
example, every nth item or individual is chosen from the population.

4. Convenience Sampling: Selection of items or individuals based on their easy availability or

accessibility. This method may introduce bias since it doesn't ensure random selection.

5. Cluster Sampling: The population is divided into clusters, and then clusters are randomly
selected for inclusion in the sample. All members of the selected clusters are then included in
the sample.

Sampling is crucial in research and statistical analysis because it allows researchers to draw
conclusions about a population based on a manageable subset, saving time and resources
while still providing valuable insights. However, it's essential to choose the appropriate
sampling method based on the research objectives, population characteristics, and available
resources to ensure the validity and reliability of the results.

24
3.3.2 Stratified sampling

Stratified sampling is a sampling technique used to ensure that different subgroups, or strata,
within a population are adequately represented in the sample. This method is particularly
useful when the population can be categorized into distinct groups, and researchers want to
ensure that each subgroup is proportionally represented in the sample. By dividing the
population into strata and then selecting samples from each stratum, researchers can obtain a
more accurate and representative sample than with simple random sampling alone.

1. Identify Strata: The first step in stratified sampling is to identify the different subgroups, or
strata, within the population. These subgroups should be mutually exclusive and collectively
exhaustive, meaning that every member of the population should belong to one and only one
stratum.

2. Determine Sample Size: Once the strata have been identified, researchers need to
determine the desired sample size for each stratum. The sample size for each stratum is
typically proportional to the size of that stratum relative to the total population. In other
words, larger strata will have larger sample sizes, and smaller strata will have smaller sample
sizes.

3. Random Sampling Within Strata: After determining the sample size for each stratum,
researchers randomly select samples from within each stratum. This can be done using simple
random sampling techniques, such as drawing names from a hat or using random number
generators. The goal is to ensure that every member of each stratum has an equal chance of
being selected for the sample.

4. Combine Samples: Once samples have been selected from each stratum, they are combined
to form the final sample for the study. By combining samples from each stratum, researchers
create a sample that is representative of the entire population, with each subgroup adequately
represented according to its proportion in the population.

Stratified sampling offers several advantages over other sampling techniques:

 Improved Precision: By ensuring that each stratum is represented in the

sample, researchers can obtain more precise estimates of population
parameters, particularly when there are significant differences between
subgroups.
 Reduced Sampling Error: Stratified sampling can help reduce sampling error
by accounting for variability within different subgroups of the population.
 Increased Efficiency: Compared to simple random sampling, which may
require larger sample sizes to achieve adequate representation of all
subgroups, stratified sampling can be more efficient by focusing sampling
efforts on specific strata.

25
Overall, stratified sampling is a powerful sampling technique that allows researchers to
obtain more accurate and reliable estimates of population parameters by ensuring adequate
representation of different subgroups within the population.

1. Identify Strata:

 In this context, the population could consist of different customer segments of

IPPB, such as urban customers, rural customers, small business owners, and
individuals with low-income backgrounds.
 These segments represent distinct groups that may have different banking
needs, preferences, and responses to marketing strategies.

2. Determine Sample Size:

 Once the strata are identified, you need to determine the sample size for each
stratum. The sample size should be proportionate to the size or importance of
each segment in the population.
 For example, if rural customers make up a significant portion of IPPB's
customer base, a larger sample size may be allocated to this stratum compared
to others.

3. Random Sampling Within Strata:

 Within each stratum, randomly select samples to ensure representation. For

instance, within the rural customer segment, you might randomly select
branches or regions to include in the sample.
 Ensure that the random selection process is unbiased and that every element
within each stratum has an equal chance of being selected.

4. Data Collection:

 Conduct surveys, interviews, or collect other relevant data from the selected
samples within each stratum.
 For example, you might conduct interviews with rural customers to understand
their perceptions of IPPB's marketing efforts targeting them.

5. Data Analysis:

 Analyse the data collected from each stratum separately to understand the
unique characteristics and responses within each segment.
 Compare and contrast the findings across different strata to identify
commonalities, differences, and trends in IPPB's marketing strategy
effectiveness across various customer segments.

26
6. Generalization and Inference:

 After analysing the data from each stratum, combine the results to make
inferences about IPPB's overall marketing strategy.
 By ensuring representation from various customer segments, you can make
more accurate generalizations about the effectiveness of IPPB's marketing
efforts across its diverse customer base.

7. Reporting and Insights:

 Present the findings of the study, highlighting insights gained from each
stratum and their implications for IPPB's marketing strategy.
 Provide recommendations for optimizing marketing strategies tailored to
different customer segments based on the insights derived from the study.

By using stratified sampling in this manner, you can ensure that the study captures the
diversity of IPPB's customer base and provides nuanced insights into the effectiveness of its
marketing strategy across different segments. This approach enhances the validity and
reliability of the findings, enabling more targeted and effective marketing strategies for IPPB.

27
3.4.1 DATA COLLECTION
Data collection encompasses the systematic gathering of information or observations through
various methods such as surveys, interviews, observations, experiments, or the analysis of
existing records. It involves meticulous planning, execution, and documentation to ensure the
accuracy and reliability of the data obtained. This process often includes identifying the target
population, selecting appropriate sampling techniques, designing data collection instruments,
administering them, and finally, organizing and analysing the collected data to draw
meaningful conclusions. Effective data collection is crucial for informing decision-making,
identifying patterns, and generating insights across a wide range of disciplines and research
endeavours.

Importance:
 Provides the basis for your research findings: Without data, you wouldn't have
anything to analyze and draw conclusions from.
 Allows you to test your hypothesis or answer your research questions: Data collection
is how you put your ideas to the test and see if they hold up.

Types of Data Collection:

 Primary Data Collection: This involves gathering new data yourself that directly
addresses your research question. There are many methods for this, including surveys,
interviews, experiments, and observations.
 Secondary Data Collection: This involves using existing data that has already been
collected by someone else. This can be a good option if you need data quickly or on a
topic where collecting new data would be difficult or expensive.

Things to Consider When Designing Data Collection:

 What type of data do you need? (qualitative or quantitative)
 What is the best way to collect that data? Consider factors like cost, time, and
feasibility.
 How will you ensure the quality of your data? This includes things like validity and
reliability.

28
Data collection can involve various types, depending on the nature of the research or study.
Some common types of data collection methods include:

1. Surveys: Surveys involve gathering data by asking questions to respondents either in

person, over the phone, via mail, or online. Surveys can be structured (with predefined
response options) or unstructured (open-ended questions).

2. Interviews: Interviews involve direct interaction between the researcher and the
participant, where questions are asked and responses are recorded. Interviews can be
structured (following a predetermined set of questions) or unstructured (allowing for more
flexibility and exploration of topics).

3. Observations: Observational methods involve systematically watching and recording

behaviours, actions, or events as they naturally occur in real-world settings. This can be done
through participant observation (where the researcher is directly involved in the setting being
observed) or non-participant observation (where the researcher remains separate from the
setting).

4. Experiments: Experiments involve manipulating one or more variables to observe the

effect on other variables, with the aim of establishing cause-and-effect relationships.
Experiments are often conducted in controlled environments to minimize external influences.

5. Existing Records: Data can also be collected from existing sources such as archives,
databases, official records, or previously conducted studies. This secondary data can be
analysed to address research questions or complement primary data collection efforts.

6. Focus Groups: Focus groups involve gathering a small group of people together to discuss
specific topics or issues in a structured manner, facilitated by a moderator. The interactions
and discussions within the group provide valuable insights into participants' opinions,
attitudes, and perceptions.

7. Case Studies: Case studies involve in-depth examination and analysis of a particular
individual, group, organization, or phenomenon within its real-life context. Data in case
studies can be collected through various methods such as interviews, observations, document
analysis, and archival records.

29
3.4.2 TYPES OF DATA COLLECTION

The data for the study is collected through two methods

 Primary data
 Secondary data

3.4.3 PRIMARY DATA

Primary data refers to information collected first hand by the researcher specifically for the
purpose of the study or research project at hand. This data is original and directly obtained
from the source, rather than being derived from secondary sources or existing records.
Primary data can be collected through various methods such as surveys, interviews,
observations, experiments, or focus groups. It is often tailored to address the specific research
questions or objectives and is considered to be highly relevant and specific to the context of
the study.

Primary Data Collection:

 Methods:
o Surveys: Questionnaires administered to a sample population to gather their
opinions, experiences, or behaviours. Can be online, paper-based, or phone
interviews.
o Interviews: In-depth conversations with individuals to gain detailed insights
and perspectives. Can be structured (with predetermined questions) or
unstructured (more conversational).
o Experiments: Controlled environments where variables are manipulated to
observe cause-and-effect relationships. Often used in scientific research.
o Observations: Systematic recording of behaviour or phenomena. Can be
participant observation (researcher joins the activity) or non-participant
observation (researcher observes from a distance).
o Focus Groups: Group discussions with a specific demographic to get
qualitative data and understand group dynamics.
 Advantages:
o Directly addresses your research question.
o Provides high-quality data tailored to your specific needs.
o Offers greater control over data collection process.

30
  Disadvantages:
o Can be time-consuming and expensive to collect data yourself.
o Sampling bias can occur if your sample population doesn't accurately reflect
the target population.

3.4.4 SECONDARY DATA

Secondary data refers to information that has already been collected, processed, and
published by someone else for a purpose other than the current research project. This data is
obtained from existing sources such as books, journals, government publications, databases,
or previous research studies. Secondary data can include a wide range of information,
including statistics, reports, survey results, and historical records. Researchers may use
secondary data to complement primary data collection efforts, provide context to their
findings, or conduct analyses that would be otherwise impractical or costly to carry out with
primary data alone.

Secondary Data Collection:

 Sources:
o Government agencies: Often compile data on demographics, economics,
health, etc. (https://www.census.gov/)
o Academic journals and publications: Existing research findings and data sets.
o Non-profit organizations: May collect data relevant to their cause.
o Commercial databases: Subscription-based services with market research data.
 Advantages:
o Quicker and cheaper to obtain data than primary collection.
o Large datasets can be readily available for analysis.
o Can provide historical data for trend analysis.
 Disadvantages:
o Data may not perfectly match your research question.
o Quality of data may vary depending on the source.
o May need permission to access and use certain datasets.

31
 Planning Your Data Collection:

 Define your research question(s) and hypothesis. What information do you need to answer
your questions or test your hypothesis?
 Choose the appropriate data collection method(s). Consider the type of data you need, your
resources, and the feasibility of each method.
 Develop a data collection plan. This should include details on your sample population, data
collection instruments (surveys, interview questions, etc.), and data recording procedures.
 Pilot test your data collection instruments. Test your surveys, interview questions, or
observation protocols on a small sample to identify any problems and refine them before full-
scale data collection.
 Ensure ethical considerations are addressed. Obtain informed consent from participants if
necessary, and maintain data privacy and confidentiality.

3.4.5 Data Collection for The Study

The data for the study was collected through two methods

 Primary data
 Secondary data

 For this study the primary data was collected through a questionnaire from the
customers of India post payments bank(IPPB)
 Do you have an account with India post payment bank: this is to find out whether the
respondent is a customer of India Post Payments Bank or not?
 Why did you open ippb a/c: this question was asked to find out the reason/need for
them to open IPPB A/C
 How did you come to know about this bank: this was asked to know their knowledge
on how they came to know.
 Have you ever encountered an ippb marketing campaign: this allowed the respondents
to select yes or no whether they encountered or not.
 If yes, what type of marketing campaign have you encountered: this was not a
required question if they encountered the marketing campaign they can answer this
question
 How often do you visit ippb bank: the respondents were given three options often
rarely never and they can select the suitable answer.
 Which payments services do you use most: the respondents were the given a lot of
options and they can one or more options to select the payment service they use the
most.

32
 Are you satisfied with the security features of the app: the respondents were asked this
question to know whether they are satisfied or not.
 Have you downloaded the app: the respondents were asked whether they downloaded
the IPPB app or not.
 Are you using a virtual debit card: the respondents were asked whether they have
virtual debit or not and they can select yes or no.
 Are you finding it as safe and secured to make use of virtual debit card to link for UPI
transactions: the customers were asked whether they feel safe and secured or not.
 Do you find it comfortable using ippb for UPI transactions: the respondents were
asked whether they are comfortable using IPPB for UPI or not and they can select yes
or no.
 Do you have ippb a/c as a primary bank for UPI transactions: the respondents were
asked if they have IPPB a/c as their primary bank for UPI or not.
 If yes, why did you choose it: this not required question if they have it has primary
bank they can answer from the options.
 Will you recommend ippb bank to others: They were asked will they recommend it to
others or not and they can answer yes or no.
 If yes, what feature influenced you to recommend it to others: this is the question that
is following the above question and that rely on it
Study on satisfaction
 Service, approachability, payment platform, convenience are you highly satisfied,
satisfied or not satisfied: for this they can select one option on all the options.

 For this study the secondary data was collected from Books, Newspaper, Magazines,
Government reports, Online materials.

 Google Scholar serves as a valuable platform for accessing secondary data analysis
studies, which play a crucial role in expanding our understanding of various research
topics. These studies often involve the re-examination and reinterpretation of existing
data sets to uncover new insights or validate previous findings. For instance,
researchers may conduct secondary data analysis to investigate trends, patterns, or
correlations within data collected for other purposes
 The comprehensive secondary data utilized in the research project was meticulously
gathered from a diverse array of reputable sources, including an extensive array of
magazine articles spanning industry-specific analyses and consumer behaviour
studies, meticulously archived newspaper articles capturing historical market trends
and socioeconomic shifts, as well as scholarly articles from renowned academic
journals elucidating theoretical frameworks and empirical research findings relevant
to the study's focus on market dynamics and consumer preferences.

33
 CHAPTER 04

DATA ANALYSIS AND INTERPRETATION

34
IV. ANALYSIS AND INTERPRETATION

4.1 Analysis:
 This is the process of examining data closely to identify patterns, trends, and
relationships between variables.
 Think of it as taking apart the data to see its individual components and how they fit
together.
 Common methods of data analysis include:
o Descriptive statistics: Summarizing the data with measures like mean, median,
and standard deviation.
o Charts and graphs: Visually representing the data to identify patterns.
o Statistical tests: Using statistical methods to assess the likelihood of
relationships between variables.
4.2 Interpretation:
 This is the process of giving meaning to the patterns and trends discovered during
analysis.
 You explain what the data suggests and why it might be the way it is.
 Here, you connect the data to existing knowledge and consider real-world
implications.
 Some key aspects of interpretation include:
o Drawing conclusions: What does the data tell you about the research question
or hypothesis?
o Considering limitations: Are there any factors that might affect the reliability
of the findings?
o Explaining the significance: What do the results mean in a broader context?

35
4.3 DEMOGRAPIC FACTOR

Figure 4.1 Chart showing the Age of the Respondents

1.

Table 4.1 Table showing the Age of the Respondents

Response No. Of respondents Percentage
Below 20 6 11.8%
21-30 21 41.2%
31-40 12 23.5%
41-50 8 15.7%
51-60 4 7.8%
Above 60 6 11.8%

INTERPRETATION:

The survey reveals an interesting trend in age demographics. While the largest portion
(41.2% or 21 people) falls within the 21-30 age group, there's healthy representation across
other adult stages. Notably, a significant segment (23.5% or 12 people) is between 31-40
years old, indicating a potential focus on young professionals. Interestingly, there's also a
presence of younger adults (11.8% or 6 people) below 20, suggesting IPPB might be
attracting a tech-savvy younger generation. The remaining respondents are distributed across
the 41-50 (15.7%, or 8 people), 51-60 (7.8%, or 4 people), and above 60 (11.8%, or 6 people)
age groups, showcasing a broader user base.

This data suggests IPPB might be reaching a diverse audience, with a focus on young
professionals while also attracting younger adults and established adults.

36
 2.

Figure 4.2 Chart showing the gender of the Respondents

Table 4.2 Table showing the gender of the Respondents

Response No.of respondents Percentage

Male 23 45.1%

Female 27 52.9%

Preferred not to say 1 2%

INTERPRETATION:

 Gender Breakdown: The survey shows that women make up a slight majority of the
respondents, with 52.9% (or 27 people) identifying as female. Men account for 45.1% (or 23
people), and a small portion (2%, or 1 person) preferred not to say. The pie chart visually
represents this data, with the blue section slightly larger than the green section.

37
3.

Figure 4.3 Chart showing the occupation of the Respondents

Table 4.3 Table showing the occupation of the Respondents

Response No. of. respondents Percentage
Student 12 23.5%
Government employee 13 25.5%
Private employee 14 27.5%
Business 7 13.7%
Others 5 9.8%

INTERPRETATION:

 Workforce Distribution: The survey results show a relatively even distribution

across three main professions:
o Government employees: (25.5%, or 13 people) make up the largest
segment.
o Private employees: Closely following at (27.5%, or 14 people) are private
employees.
o Students: (23.5%, or 12 people) comprise another notable portion of the
respondents.
 Other Professions: A smaller number of respondents identified as business owners
(13.7%, or 7 people) and other professions (9.8%, or 5 people).

Overall, the data suggests a diverse range of professions among the survey participants, with
government jobs, private sector jobs, and students all being well-represented.

38
4.

Figure 4.4 Chart showing the Annual income of the Respondents

Table 4.4 Table showing the Annual income of the Respondents

Response No. of respondents Percentage
Less than 5 lakhs 25 49%
Between 5 lakhs-10 lakhs 13 25.5%
Between 10 lakhs-20 lakhs 8 15.7%
Above 20 lakhs 5 9.8%

INTERPRETATION:

 Income Distribution Leans Lower: The survey reveals that almost half (49%) of the
respondents, which translates to 25 people, fall within the income bracket of less than
5 lakhs annually. This suggests the survey group might represent a population with a
lower to middle-income range.
 Spread Across Income Levels: While nearly half (49%) of the respondents belong to
the below 5 lakh income category, the data also shows a presence across other income
brackets. There's a noteworthy portion (25.5% or 13 people) between 5-10 lakhs,
followed by a steady distribution in the 10-20 lakh (15.7% or 8 people) and above 20
lakhs (9.8% or 5 people) brackets.
 Focus on Affordability: Considering that almost half of the respondents have an
annual income below 5 lakhs, IPPB's services or products might be positioned
towards affordability and catering to a budget-conscious audience.

39
 4.4 MARKETING STRATEGY

5.

Figure 4.5 Chart showing whether they have an a/c or not by the
Respondents

Table 4.5 Table showing whether they have an a/c or not by the
Respondents

Responses No. of. respondents Percentage

Yes 45 88.2%

No 6 11.8%

INTERPRETATION:

 High Account Ownership: A large majority of respondents (88.2%, or 45 out of 51 people)

indicated yes, they do have an IPPB account. This suggests a significant portion of the
surveyed population uses IPPB services.
 Minority Without Account: A smaller portion of respondents (11.8%, or 6 people) said no,
they do not have an IPPB account.

40
6.

Figure 4.6 Chart showing the reason they opened an a/c by the
Respondents

Table 4.6 Table showing the reason they opened an a/c by the respondents

Response No. of. respondents Percentage

To receive govt subsidy 13 25.5%
To avail service 11 21.6%
Easily approachable 18 35.3%
Nearby 3 5.9%
Others 6 11.8%

INTERPRETATION

 Top Reason: Ease of Access: A significant portion of respondents (35.3%, or 18) said
they opened an IPPB account because it is easily approachable.

 Other Reason: While receiving government subsidies (25.5%, or 13 people) was a

significant motivator for some, a larger portion of respondents (35.3%, or 18 people)
opened IPPB accounts due to their perceived ease of access. Additionally, over a fifth
(21.6%, or 11 people) sought to avail themselves of the services offered by IPPB,
highlighting the potential user base interested in its functionalities.

41
7.

Figure 4.7 Chart showing the way they came to know about this bank of
the Respondents

Table 4.7.1 Table showing the way they came to know about this bank of
the Respondents

Response No. of.respondents Percentage

Through postman 18 35.3%

To receive govt subsidy 8 15.7%

Approached through post office 16 31.4%

Advertisement 7 13.9%

Others 2 3.9%

42
 F-TEST

Table 4.7.2 Table showing the F-TEST

F-Test Two-Sample for Variances

18 0.353
Mean 8.25 0.20266667
Variance 33.5833333 0.00939633
3
Observations 4 3
df 3 2
F 3574.08918
4
P(F<=f) one-tail 0.00027972
6
F Critical one-tail 19.1642921
3

 F-Statistic (F): 3574.09. This value represents the ratio of the variance of the larger sample
(variance 1) to the variance of the smaller sample (variance 2) [1]. In this case, the variance
of the first sample (8.25) is much larger than the variance of the second sample (0.20266667),
which is reflected in the high F-statistic.
 P(F<=f) one-tail: 0.000279726. This is the p-value, which represents the likelihood of
observing an F-statistic this extreme or more extreme, assuming the null hypothesis is true (in
this case, the null hypothesis is that the variances of the two populations are equal) [2]. A
smaller p-value indicates stronger evidence against the null hypothesis. Here, the very small
p-value (less than 0.05, commonly accepted threshold) suggests we should reject the null
hypothesis.
 F Critical one-tail: 19.16429213. This is the critical F-value, which is a benchmark value
used for comparison with the F-statistic based on the chosen significance level (typically
0.05) and degrees of freedom [2]. If the F-statistic is greater than the critical F-value, we
reject the null hypothesis. In this case, the F-statistic (3574.09) is considerably larger than the
critical F-value (19.16429213), further supporting the rejection of the null hypothesis.

Interpretation:

43
 Based on the F-test results, we can reject the null hypothesis with strong confidence (p-value
much less than 0.05). This suggests that the variances of the two populations are statistically
different. In simpler terms, the data indicates that one population has a significantly higher
variance than the other.

However, the f-test doesn't tell you which population has the higher variance. You'd need to
look back at the original variances (8.25 and 0.20266667) to determine that the first
population has a larger variance.

Additional Points to Consider:

 The f-test assumes normality of the populations' distributions. If the data significantly
deviates from normality, the f-test results might be unreliable.
 The f-test is sensitive to sample size. Very small samples can lead to unreliable results.

T-TEST

Table 4.7.3 Table showing the T-TEST

t-Test: Paired Two Sample for Means

18 0.353
Mean 10.33333 0.202667
Variance 24.33333 0.009396
Observations 3 3
Pearson Correlation 0.999998
Hypothesized Mean Difference 0
df 2
t Stat 3.628415
P(T<=t) one-tail 0.034135
t Critical one-tail 2.919986
P(T<=t) two-tail 0.06827
t Critical two-tail 4.302653

Paired t-Test: Means

44
 This indicates it's a paired t-test, which is used to assess the statistical significance of the
difference between the means of two sets of paired data [1]. Paired data means each data
point in one set corresponds to a data point in the other set.
Data Summary
 Mean:
o The average value in the first set (possibly the "before" measurements) is
10.33333.
o The average value in the second set (possibly the "after" measurements) is not
directly provided but can be calculated as the mean + the difference (0.353).
This would be 10.68633.
 Variance:
o The variance in the first set is 24.33333.
o The variance in the second set is not shown but assumed to be equal for a
paired t-test.
Observations: There are 3 observations (or pairs of data points) in each set.
Pearson Correlation: The correlation coefficient is very close to 1 (0.999998), indicating a
very strong positive correlation between the two sets of measurements. This means the data
points tend to move together; if one value increases, the other is likely to increase as well.

Test Statistic
 t Stat: 3.628415. This is the t-statistic, which is a measure of how much the means
differ in relation to the standard error of the difference. A higher t-statistic indicates a
larger difference between the means relative to the variability within the data.
P-value
 P(T<=t) one-tail: 0.034135. This is the p-value, which represents the probability of
observing a t-statistic this extreme or more extreme, assuming the null hypothesis is
true (in this case, the null hypothesis is that the true difference between the means of
the two populations is zero) [2]. A smaller p-value indicates stronger evidence against
the null hypothesis. Here, the p-value (0.034135) is less than 0.05 (a commonly
accepted threshold for significance), suggesting we can reject the null hypothesis.

Critical Values

45
 t Critical one-tail: 2.919986. This is the critical t-value for a one-tailed test with a
significance level of 0.05 and 2 degrees of freedom (df) (which is assumed for paired t-tests
with n-1 observations per group). If the t-statistic is greater than the critical t-value, we reject
the null hypothesis. In this case, the t-statistic (3.628415) is larger than the critical t-value
(2.919986), further supporting the rejection of the null hypothesis.
Interpretation:

Based on the t-test results, we can reject the null hypothesis (with p-value less than 0.05).
This suggests that there is a statistically significant difference between the means of the two
paired samples. In simpler terms, the data provides evidence that the two measurements are
not the same on average.

Considering the context (which isn't provided in the image), the positive difference in means
(around 0.35 based on our calculation) suggests that the second measurement (possibly from
an "after" condition) is likely higher than the first measurement (possibly from a "before"
condition).

Additional Points:
 Paired t-tests assume normality of the differences between the paired data points [1]. If the
data significantly deviates from normality, the t-test results might be unreliable.
 The small sample size (3 observations per group) can limit the generalizability of the
findings.

It's important to consider these limitations when interpreting the t-test results. Overall, the t-
test provides evidence of a statistically significant difference between the means of the two
paired measurements.

46
 8.

Figure 4.8 Chart showing the marketing campaign encountered by the

Respondents

Table 4.8 Table showing the marketing campaign encountered by the

Respondents

Response No.of.respondents Percentage

Yes 43 84.3%

No 8 15.7%

INTERPRETATION

 Encountered Campaign: A large majority of respondents (84.3%, or 43 out of 51 people) said

yes, they encountered an IPPB marketing campaign. This is shown in green on the pie chart
and indicates a successful reach for the campaign.

47
 Did Not Encounter Campaign: A smaller portion of respondents (15.7%, or 8 out of 51
people) said no, they did not encounter an IPPB marketing campaign. This is shown in red on
the pie chart.

9.

Figure 4.9 Chart showing the marketing campaign encountered by the

Respondents

Table 4.9 Table showing the marketing campaign encountered by the

Respondents

Response No.of.respondents Percentage

Television advertisement 15 32.6%
Social media 14 30.4%
Postman campaign 29 63%
Billboard/banner 14 30.4%
Others 2 4.3%

INTERPRETATION:

 Postman Campaign: A significant majority (63%, or 29 out of 46 respondents) reported

encountering marketing campaigns through postman campaigns. This suggests that postman
campaigns are the most prevalent marketing channel for this group.
 Tied for Second: Television advertisements and social media were both mentioned by 30.4%
(or 14 out of 46 respondents) each. This indicates that these two channels have similar reach
for the products or services being advertised.

48
 Less Common Channels: Billboards/banners (30.4%, or 14 people) and "Other" channels
(4.3%, or 2 people) were used by a smaller portion of the respondents.
Overall, postman campaigns seem to be the most common way people are encountering
marketing campaigns, followed by television advertisements and social media having a
similar reach. Billboards/banners and other channels were encountered by a smaller portion
of people.

10.

Figure 4.10 Chart showing the frequency of visit to the IPPB bank of the
Respondents

Table 4.10 Table showing the frequency of visit to the IPPB bank of the
Respondents

Response No.of respondents Percentage

Often 16 31.4%

Rarely 19 37.3%

Never 16 31.4%

INTERPRETATION:

49
 Varied Visit Frequency: The data shows that there is no dominant frequency for visiting the
bank. 31.4% (or 16 people) visit the bank often, 37.3% (or 19 people) visit rarely, and
another 31.4% (or 16 people) never visit the bank. This suggests a diverse range of banking
habits among the respondents.

11.

Figure 4.11 Chart showing the payment services used most among the
Respondents

Table 4.11 Table showing the payments services used most among the
Respondents

Response No.of.respondents Percentage

QR card 16 31.4%
UPI linkage 25 49%
Online banking systems 18 35.3%
App 8 15.7%

INTERPRETATION:

 UPI Linkage: Nearly half (49%, or 25 out of 51) of the respondents reported using UPI
linkage as their payment service.
 QR Card: Following closely behind, 31.4% (or 16 people) said they use QR cards for
payments.

50
 Online Banking Systems: A lower percentage (35.3%, or 18 people) use online banking
systems for their transactions.
 App: The data shows that the least used payment service is an app, with only 15.7% (or 8
people) reporting using an app for payments.

Overall, UPI linkage and QR cards seem to be the most popular payment methods among the
people surveyed, while online banking systems and apps are used by a smaller portion of the
respondents.

12.

Figure 4.12 Chart showing the satisfaction of security features towards the
app of the Respondents

Table 4.12 Table showing the satisfaction of security features towards the
app of the Respondents

Response No.of.respondents Percentage

Yes 43 84.3%

No 8 15.7%

INTERPRETATION:

51
 High User Satisfaction: The data shows that a large majority of respondents, 84.3% (or 43
people), are satisfied with the security features of the app. This is visually represented in the
pie chart where the green section is significantly larger.
 Minority Dissatisfied: A smaller portion of respondents, 15.7% (or 8 people), are not satisfied
with the security features, as shown by the red section in the pie chart.

52
 13.

Figure 4.13 Chart showing the usage of the IPPB app of the Respondents

Table 4.13 Table showing the usage of IPPB app of the Respondents

Response No.of.respondents Percentage

Yes 42 82.4%
No 9 17.6%

INTERPRETATION

 High App Download Rate: A large majority of respondents, 82.4% (or 42 people), said yes,
they have downloaded the IPPB app. This suggests a significant portion of the surveyed
population uses the app.
 Minority Without the App: A smaller portion of respondents, 17.6% (or 9 people), said no,
they have not downloaded the IPPB app.

53
14.

Figure 4.14 Chart showing the usage of virtual debit card of the
Respondents

Table 4.14 Table showing the usage of virtual debit card of the
Respondents

Response No.of.respondents Percentage

Yes 44 86.3%

No 7 13.7%

INTERPRETATION:

A survey of 51 people investigated how many use virtual debit cards. The results are
overwhelmingly positive, with a substantial 86.3% (or 44 people) indicating they do use
virtual debit cards. Only a small minority, 13.7% (or 7 people), reported not using virtual
debit cards. This data suggests virtual debit cards have become a popular choice for many
people.

54
15.

Figure 4.15 Chart showing the usage of virtual debit card of the
Respondents

Table 4.15 Table showing the usage of virtual debit card of the
Respondents

Response No.of.respondents Percentage

Yes 39 76.5%

No 12 23.5%

INTERPRETATION:

A survey was conducted to understand people's perception of security when using virtual
debit cards for UPI transactions. Out of 51 respondents, a significant majority, 76.5% (or 39
people), felt safe and secure using virtual debit cards. However, there is still a minority of
respondents, 23.5% (or 12 people), who have reservations about using them for UPI
transactions. These findings suggest that while virtual debit cards are gaining traction for UPI
payments, there's room for improvement in building trust and addressing security concerns
for a portion of the user base.

55
 16.

Figure 4.16 Chart showing whether they find IPPB comfortable or not for
UPI transactions of the Respondents

Table 4.16 Table showing whether they find IPPB comfortable or not for
UPI transactions of the Respondents

Response No.of.respondents Percentage

Yes 42 82.4%

No 9 17.6%

Interpretation:

A survey was conducted to determine how many people use IPPB for UPI transactions. A
total of 51 people responded.

 82.4% (42) said they use IPPB for UPI transactions.

 17.6% (9) said they do not use IPPB for UPI transactions.

Overall, a majority of respondents indicated they use IPPB for UPI transactions.

56
 17.

Figure 4.17 Chart showing the status of primary bank of the Respondents

Table 4.17 Table showing the status of primary bank of the Respondents

Response No.of.respondents Percentage

Yes 31 60.8%

No 20 39.2%

INTERPRETATION:

 Use IPPB as Primary Bank: A majority of respondents (60.8%, or 31 people) said they use
IPPB as their primary bank for UPI transactions.
 Do Not Use IPPB as Primary Bank: A minority of respondents (39.2%, or 20 people) said
they do not use IPPB as their primary bank for UPI transactions.

It is important to consider that this data only shows a small sample size (51 people total). It is
also not possible to say from this data why people choose or do not choose IPPB as their
primary bank for UPI transactions.

57
 18.

Figure 4.18 Chart showing the why they have IPPB as primary bank of the
Respondents

Table 4.18 Table showing the why they have IPPB as primary bank of the
Respondents
Response No.of.respondents Percentage
Minimum balance 21 60%
Interest rate 10 28.6%
Easy access 17 48.6%
No extra charges 7 20%
Door-step service 6 17.1%

INTERPRETATION:

 Most Important Factor: Minimum balance was the most important factor, with 60% of
respondents (21 out of 35) choosing it.
 Other Important Factors: Easy access (48.6%) and interest rate (28.6%) were also important
factors for many people. Less important factors include no extra charges (20%) and door-step
service (17.1%).

Overall, it seems that affordability (minimum balance and no extra charges) was the most
important concern for people choosing a bank in this survey.

58
 19.

Figure 4.19 Chart showing whether they will recommend IPPB to others or
not of the Respondents

Table 4.19 Table showing whether they will recommend IPPB to others or
not of the Respondents

Response No.of.respodents Percentage

Yes 38 74.5%

No 13 25.5%

INTERPRETATION:

 People Who Would Recommend: A majority of respondents (74.5%, or 38 people) said they
would recommend IPPB bank to others.
 People Who Would Not Recommend: A minority of respondents (25.5%, or 13 people) said
they would not recommend IPPB bank to others.

It is important to consider that this data only shows a small sample size (51 people total).
Without more information, it is difficult to say why people would or would not recommend
IPPB bank.

59
 20.

Figure 4.20 Chart showing the feature influenced to recommend it to others

of the Respondents

Table 4.20 Table showing the feature influenced to recommend it to others

of the Respondents

Response No.of.respondents Percentage

Minimum balance 22 56.4%
Interest rate 12 30.8%
Easy access 18 46.2%
No extra charges 9 23.1%
Others 1 2.6%

INTERPRETATION:

 Most Influential Factors: The two most influential factors were easy access (46.2%) and
minimum balance (56.4%).
 Other Influential Factors: Interest rate (30.8%), no extra charges (23.1%), and other factors
(2.6%) were also listed as reasons people chose to recommend the bank.

Overall, it seems that people prioritized convenience (easy access) and affordability
(minimum balance and no extra charges) when recommending this bank to others.

60
 4.5 STUDY ON SATISFACTION
21.

Figure 4.21 Chart showing the satisfaction level of the Respondents

Table 4.21 Table showing the satisfaction level of the Respondents

Response Highly satisfied Satisfied Not satisfied

Service 20 21 11
Approachability 21 19 11
Payment platform 14 26 11
Convenience 21 22 10

INTERPRETATION:

 Service: A higher percentage of customers (20%) are highly satisfied with the service
compared to the other three categories. There is also a lower percentage (11%) of unsatisfied
customers with service compared to the other categories.
 Approachability and Convenience: A similar percentage of customers are highly satisfied
(21% and 21%) with approachability and convenience, respectively. However, there are also
a higher percentage of unsatisfied customers (11% in both categories) compared to service.
 Payment Platform: This category has the lowest percentage (14%) of highly satisfied
customers. There is also a higher percentage (26%) of unsatisfied customers with the
payment platform compared to the other categories.

Overall, customers seem most satisfied with the company’s service but least satisfied with the
payment platform. It would be beneficial to investigate why customers are unsatisfied with
the payment platform to improve customer satisfaction.

61
CHAPTER 05

FINDINGS

62
V. FINDINGS

 Target Audience:
 The data suggests IPPB is reaching a diverse audience across age groups (11.8%
below 20, 41.2% 21-30, significant presence in other age groups).
 There's a slight majority of female users (52.9%) and a good representation across
professions (government employees, private employees, students, business owners).
 A significant portion (49%) has an annual income of less than 5 lakhs, indicating a
focus on lower-income segments.

 Marketing Channels and Awareness:

 A large majority (88.2%) have an IPPB account, suggesting successful marketing
efforts.
 The most common way people learned about IPPB was through postmen (35.3%),
followed by approaching a post office (31.4%). This indicates leveraging the existing
network of the Indian Postal System.
 Advertisements (television and social media at 30.4% each) also play a role in raising
awareness.
 A high percentage (84.3%) encountered an IPPB marketing campaign, suggesting a
broad reach.

 Reasons for Using IPPB:

 Receiving government subsidies (25.5%) is a significant reason for opening an
account, highlighting its role in financial inclusion.
 Convenience factors like "easily approachable" (35.3%) and "nearby" (5.9%) are
essential motivators, particularly for people in rural areas.
 Customer Satisfaction:
 A large majority (84.3%) are satisfied with the security features of the app, indicating
trust.
 Service seems to be the most well-received aspect (20% highly satisfied), followed by
approachability and convenience (21% each).
 The payment platform has the lowest satisfaction rate (14% highly satisfied, 26%
unsatisfied). Investigating these issues could improve overall customer experience.

63
 App Usage and Payment Methods:
 A significant portion (82.4%) downloaded the app, but visit frequency varies (often,
rarely, never). This suggests the app might be used for specific needs.
 UPI Linkage (49%) and QR Cards (31.4%) are the most popular payment methods,
reflecting their popularity in India.

 Recommendations for Marketing Strategy:

 Continue leveraging the strong network of postmen and post offices for outreach.
 Tailor messaging to different age groups and income segments.
 Focus on promoting the convenience and security aspects of IPPB services.
 Address any shortcomings in the payment platform to improve customer satisfaction.
 Analyze why some users haven't downloaded the app despite awareness and
encourage app usage.

 Limitations:
 This data is based on a small sample size, so the findings may not be generalizable to
the entire IPPB user base.
 The data doesn't provide details on the specific marketing messages used or the
effectiveness of different channels.

 Additional Considerations:

 It would be beneficial to understand why some users haven't downloaded the app
despite a high awareness of IPPB.
 Further analysis is needed to explore the reasons behind the varying frequency of
visiting the bank branches.

64
CHAPTER 06

SUGGESTIONS

65
VI. SUGGESTIONS

 Target Audience Segmentation:

 The data suggests an opportunity for IPPB to segment its marketing strategy based on
demographics and user behavior.
o Develop campaigns targeting younger adults (below 20 and 21-30 age groups)
who are tech-savvy and likely app users.
o Tailor messaging for established adults (31-40, 41-50, 51-60, and above 60)
who might prioritize factors like security and convenience.
o Craft campaigns focused on government employees, private employees, and
students based on their specific needs and financial habits.

 Content Marketing and Brand Awareness:

 Leverage social media platforms like Facebook and Instagram to reach a wider
audience, particularly younger adults.
 Partner with influencers who resonate with your target audience segments.
 Create informative and engaging content (videos, infographics, blog posts) that
showcase the benefits of using IPPB, such as convenience, security features, and ease
of use.
 Develop a strong brand identity that emphasizes trustworthiness, reliability, and
accessibility.

 Encouraging App Usage:

 Analyze reasons why some users haven't downloaded the app despite high brand
awareness.
 Conduct user experience research to identify any app usability issues.
 Design targeted campaigns highlighting the app's benefits and functionalities (e.g.,
quick money transfers, bill payments, managing accounts).
 Offer incentives for downloading and using the app (e.g., discounts, cashback offers).

66
 Improving Customer Satisfaction:
 Investigate the reasons behind user dissatisfaction with the payment platform.
 Address any technical glitches or usability issues that hinder a smooth payment
experience.
 Consider offering educational resources or tutorials on using the payment platform
effectively.
 Gather customer feedback regularly to identify areas for improvement and
continuously enhance their experience.

 Data-Driven Marketing:
 Track the effectiveness of different marketing campaigns across various channels
(postmen, social media, TV ads) to optimize spending and maximize reach.
 Use website analytics to understand user behavior and identify potential drop-off
points in the customer journey.
 Leverage A/B testing to compare the performance of different marketing creatives
and messaging.

 Additional points to remember:

 Personalization: Personalize your marketing messages and outreach efforts to
resonate better with individual user segments.
 Omni channel Marketing: Implement an Omni channel marketing strategy that
reaches users across various touchpoints (online, offline, mobile app).
 Metrics and Measurement: Continuously monitor and measure the success of your
marketing campaigns using relevant metrics (app downloads, account openings,
user engagement).

67
CHAPTER 07

CONCLUSION

68
VII. CONCLUSION

This analysis examined demographic data, user behaviour, and customer satisfaction levels to
gain insights into India Post Payments Bank's (IPPB) marketing strategy. The findings reveal
a customer base spanning various age groups, professions, and income levels. Notably,
postmen and post offices emerged as the primary channels for brand awareness, highlighting
the effectiveness of leveraging the Indian Postal System's vast network. While a significant
portion of the surveyed population owns IPPB accounts and expresses trust in its security
features, app usage appears to be less frequent for some. Additionally, the payment platform
seems to be an area requiring improvement based on customer satisfaction levels. To
capitalize on its strengths and address potential shortcomings, IPPB can refine its marketing
approach in several ways. Segmenting the audience based on demographics and user
behaviour would enable tailored messaging that resonates with different customer segments.
Younger adults, for example, might be receptive to social media campaigns promoting the
app's functionalities, while established adults may prioritize security assurances.

Furthermore, IPPB can explore content marketing strategies like informative videos and blog
posts to showcase its user-friendly features and the benefits of convenient banking solutions.
Addressing any usability issues within the app and offering incentives for download and use
can further encourage engagement. Continuous customer feedback is crucial for identifying
areas for improvement and enhancing the overall user experience. By investigating the
reasons behind payment platform dissatisfaction, IPPB can address technical glitches or offer
educational resources to facilitate smoother transactions. Finally, a data-driven approach to
marketing is essential. Tracking campaign performance across various channels (postmen,
social media, television advertisements) allows for optimizing spending and maximizing
reach. Utilizing website analytics to understand user behaviour and measuring key metrics
like account openings and app downloads provides valuable insights for future marketing
efforts.

In conclusion, IPPB has established a strong foundation with a diverse customer base and a
recognizable brand. By implementing a more targeted marketing strategy that leverages
digital channels effectively, addresses user needs, and prioritizes customer satisfaction, IPPB
can solidify its position in the ever-evolving Indian banking landscape.

69
BIBILOGRAPHY

70
BIBILOGRAPHY

 Minj, M., Mishra, A. K., Soni, R. K., & Kalyan, P. G. (2021). Impact of India Post
Payments Bank on Post Office Saving Accounts. Sambodhi (Indological research
journal of LDI I), 44(3), 7-13.
 Thomas, C. E., Manilal, C., Venugopal, D., Dhilan, D., & George, D. S. (2021). A
STUDY ON PUBLIC AWARENESS AND CUSTOMER SATISFACTION OF
INDIA POST PAYMENT BANK.
 Bhargavi, M. (2018, January). INITIATIVE OF PAYMENTS BANK BY INDIA
POST–HIGHLIGHTS AND CHALLENGES. In TWO DAY NATIONAL SEMINAR
GST AND DIGITAL ECONOMY-IMPLICATIONS ON TRADE AND COMMERCE (p.
165).
 Tamilarasi, S., & BHUVANESWARI, M. D. (2019). Indian Post Payments Bank, a
New Initiative by the Government of India–An Awareness and Perspective among
People in Chennai. International Journal of Research in Engineering, IT and Social
Sciences, 251-54.
 Dwyer Jr, G. P., & Hasan, I. (2007). Suspension of payments, bank failures, and the
nonbank public's losses. Journal of Monetary Economics, 54(2), 565-580.
 Rampure, S. S., & Subhash, V. (2019). A role of payments banks in India:
Opportunities and challenges. International Journal of Advance & Innovative
Research, 6(3), 33-38.
 Franciska, A. M., & Sahayaselvi, S. (2017). An overview on digital
payments. International Journal of Research, 4(13), 2101-2111
 Lacker, J. M. (2006, March). Central Bank credit in the theory of money and
payments. In Remarks presented at The Economics of Payments II Conference,
Federal Reserve Bank of New York, March (Vol. 29).
 Northcott, C. A. (2004). Competition in banking: A review of the literature.
 Kaufman, G. (1992). Capital in Banking; Past, Present, and Future.
 Abid, S. (2017). Payment banks: a revolutionary step in Indian banking system. IOSR
Journal of Economics and Finance (IOSR-JEF), 7(6), 81-83.
 Gupta, C. (2016). Payment banks and demonetization. International Journal of
Technical Research and Science, IJTRS-V1-I9-002.
 Shrey, B., Tanmayee, B., Mohak, C., Animesh, D., & Geetha, I. (2018). Role of
payment banks in India: opportunities and challenges. Int. J. Adv. Manag. Econ.
 Nippatlapalli, A. R. (2013). A study on customer satisfaction of commercial banks:
Case study on State Bank of India. IOSR journal of Business and Management, 15(1),
60-86.
 Nawaz, A., Mishra, D., & Ali, A. (2018). Customer satisfaction in banking industry: a
case study. IJRAR-International Journal of Research and Analytical Reviews, 5, 261-
265.

71
APPENDIX

72
APPENDIX

A STUDY ON MARKETING STRATEGY OF INDIA POST PAYMENTS BANK

DEMOGRAPHIC FACTOR

1. Name
2. Age
 Below 20
 21-30
 31-40
 41-50
 51-60
 Above 60

3. Gender
 Male
 Female
 Preferred not to say

4. Occupation
 Student
 Government employee
 Private employee
 Business
 Others

5. Annual Income
 Less than 5 lakhs
 Between 5 lakhs-10 lakhs
 Between 10 lakhs-20 lakhs
 Above 20 lakhs

73
MARKETING STRATEGY

6. Do you have an account with INDIA POST PAYMENTS BANK?

 Yes
 No

7. Why did you open ippb a/c

 To receive govt subsidy
 To avail service
 Easily approachable
 Nearby
 Others

8. How did you come to know about this bank?

 Through postman
 To receive govt subsidy
 Approached through post office
 Advertisement
 Others

9. Have you ever encountered IPPB marketing campaign?

 Yes
 No

10. If yes, what type of marketing campaign have you encountered

 Television advertisement
 Social media
 Postman campaign
 Billboard/banner
 Others

11. How often do you visit IPPB bank?

 Often
 Rarely
 Never

12. Which payments services do you use the most

 QR card

74
  UPI linkage
 Online banking systems
 App

13. Are you satisfied with the security features of the app?
 Yes
 No

14. Have you downloaded the app?

 Yes
 No

15. Are you using virtual debit card?

 Yes
 No

16. Are you finding it as safe and secured to make use of virtual debit card to link for UPI
transactions
 Yes
 No

17. Do you find it comfortable using IPPB for UPI transactions?

 Yes
 No

18. Do you have IPPB a/c as primary bank for UPI transactions
 Yes
 No

19. If yes, why did you choose it

 Minimum balance
 Interest rate
 Easy access
 No extra charges
 Door-step service
 Others

20. Will you recommend IPPB bank to others

 Yes
 No

21. If yes, what feature influenced you to recommend it to others

75
  Minimum balance
 Interest rate
 Easy access
 No extra charges
 Others

22. STUDY ON SATISFACTION

Highly satisfied satisfied Not satisfied

Service

Approachability

Payment platform

convenience

76