In this paper we prove an analogue of Banach and Kannan fixed point theorems by generalizing the Lipschitz constat $k$, in generalized Lipschitz mapping on cone metric space over Banach algebra, which are answers for the open problems proposed by Sastry et al, [K. P. R. Sastry, G. A. Naidu, T. Bakeshie, Fixed point theorems in cone metric spaces with Banach algebra cones, Int. J. of Math. Sci. and Engg. Appl. (6) (2012), 129-136].