Following paragraph is extracted from (Kumar, Lall & Mane, 2017) research paper. Read the paragraph thoroughly and answer the following questions. (400 to 600 words)
- State the research problem of the given study (Describe the problem in your own words)
- Justify whether the given problem fulfills the criteria of a good research problem or not.
- How this research contributes to the existing literature? Justify.
- Formulate the objectives and research question(s), accordingly.
Today, mobile banking services along with Internet banking services have fundamentally changed the ways and methods of doing banking operations by its customers and banks have also used these technology-based service delivery channels not only as a new way to increase customer satisfaction, but also as a strategy to reduce costs and increase profitability. Banks have laid their emphasis on the implementation on mobile banking services because it has helped them to sharpen their focus on reducing costs, enabled them to sustain their competitive advantage, provide a higher level of convenience to users, and also as a tool to cater to ‘unbanked’ customers. The application of third generation (3G) mobile communication technologies has triggered the rapid development of mobile commerce. A variety of mobile services such as mobile instant messaging, mobile search and mobile music have been very popular among users. These services are mainly related to communication, information and entertainment application. However, mobile transaction services such as mobile banking have been adopted by a minority of users. Many traditional banks are now aggressively promoting their mobile banking services. In order to achieve success, a prerequisite is to facilitate user adoption and usage of mobile banking. In mobile banking the users adopt mobile terminals to conduct payment such as balance enquiry, transference and bill payment at anytime from anywhere (Dahlberg, Mallat, Ondrus & Zmijewska, 2008). It is an innovation that could become one of m-commerce’s value-added applications (Lee, McGoldrick, Keeling & Doherty, 2003) and could have a huge economic impact (Varshney, 2004). It is expected to transform and redefine business models associated with financial services (Rask & Dholakia, 2001) and frees users from operational, spatial and temporal limitations, and enables them to conduct their banking operations from anywhere. This provides great convenience to users. The Government of India has given a push to financial inclusion by announcing the Jan Dhan Yojana—a programme to provide access to banking services to every household. Under the scheme, over 7 crore households are proposed to be covered. It was estimated that only 58.7 per cent of the Indian households had access to banking services and post Jan Dhan, the government’s statement is that over 90 per cent of the households are now covered. Running complementary to this is the fact that as per Telecom Regulatory Authority of India (TRAI) statistics the tele-density of wireless subscribers as of March 2015 is 77.27 per cent and the total number of wireless subscribers stood at 969.89 million. With increased affordability of smartphones, it is only but natural that the tendency to use mobile phones will increase in future and with that the usage of mobile phones for banking services is also expected to increase. The educated youth of India have adapted readily to the technology-based services as is evident from the IT revolution in India. They have been comfortable with using computers, utilizing services through Internet and now have shown their inclination to utilize the smartphone for technology-based services. Management students in India being part of this demographic dividend have also readily adapted to the technology-based innovations and using computers and Internet are a part of their curriculum. Most importantly, this segment needs to transact with banks for the next three decades of their working life for their financial needs. It was therefore thought a study on the underlying factors which would make them use mobile banking services would be of immense interest to the banking industry and also the researchers in this field.