Title: Presence of banking in social media: Indian evidence

Authors: Pooja Malhotra; Balwinder Singh

Addresses: Department of Commerce, Dyal Singh College, Karnal 132001, Haryana, India ' Department of Commerce, Guru Nanak Dev University, Amritsar 143005, Punjab, India

Abstract: The paper presents the current status of use of social networking sites particularly Facebook by the public and private sector banks in India. The data for this study is based upon a survey of Facebook pages of 47 banks explored during the period of February-March 2015. The paper is based on an instrument called Facebook Assessment Index (FAI) developed by Miranda et al. (2013), which uses three categories to evaluate the essential information on a firm's Facebook page: popularity, interactivity and content. The results found that only 48.9% of the banks observed had their official Facebook page. Amongst, the three measures of FAI, new private sector banks (ICICI Bank and Axis Bank) performed well as compared to other banks. In general, the banks were not fully harnessing the utility of Facebook and a great opportunity exists for the banks for improvement in their usage of Facebook.

Keywords: private sector banks; public sector banks; innovation; social media; social networking sites; SNS; Facebook; financial services; India; popularity; interactivity; content; banking industry.

DOI: 10.1504/IJBFMI.2016.078149

International Journal of Business Forecasting and Marketing Intelligence, 2016 Vol.2 No.2, pp.117 - 127

Received: 13 Apr 2016
Accepted: 23 Apr 2016
Published online: 04 Aug 2016 *

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