Summer Training Project Report On Study of Savings and Current Accounts

(IndusInd Bank)

Submitted byPooja Dixit Roll No.- 201101071

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DECLERATION

I hereby declare that the project report entitled A STUDY OF CURRENT AND SAVING ACCOUNT. Is the produce of my sincere effort. This Summer Internship Project Report is being submitted by me alone, at Techno Institute of Management Sciences Lucknow for the partial fulfillment of the course PGDM, and the report has not been submitted to any other Educational institutions or for any other purpose WHATSOEVER.

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ACKNOWLEDGEMENT
I owe my gratitude to many people who helped and supported me during the entire Summer Training. My sincere thanks to Prof. Mohit [Faculty Guide], the Guide of the project, for initiating and guiding the project with attention and care. He has always been available for me to put me on track from time to time to bring the project at its present form. My deep sense of gratitude is due to Miss Bhavana Singh [Manager], [IndusInd Lucknow] for allowing me to carry out the Summer Internship and this Project at the organization and to be constantly available to me for the period, for guidance. She also helped me to see the subject of study in its proper perspective. Thanks and appreciations are also due to the officials, employees and respondents of IndusInd Lucknow, for their support. I also thank my Institution and my faculty members without whom this project would have been a distant reality.

Signature (Pooja Dixit) Place: IndusInd Lucknow Date:

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Signature

Table of Contents
1.1 1.2 General Introduction Industry Profile

a. Origin and Development of the industry b. Growth and Present Status of the industry... c. Future of the industry .. 1.3 Product and Service Profile of the Organization Competitors .. STUDY OF SELECTED RESEARCH PROBLEM

CHAPTER 4 4.1 4.2 4.3 4.4 4.5

Statement of Research Problem.. Statement of Research Objectives ........ Research Design and Methodology Analysis of Data . . .

Summary of Findings SUMMARY AND CONCLUSIONS .

CHAPTER 5 5.1 5.2

Summary of Learning Experience.. Conclusions and Recommendations .

APPENDIX . BIBLOGRAPHY .

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Introduction

Introduction

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IndusInd Bank derives its name and inspiration from the Indus Valley civilization - a culture described by National Geographic as 'one of the greatest of the ancient world' combining a spirit of innovation with sound business and trade practices. Mr. Srichand P. Hinduja, a leading Non-Resident Indian businessman and head of the Hinduja Group, conceived the vision of IndusInd Bank - the first of the new-generation private banks in India - and through collective contributions from the NRI community towards India's economic and social development, brought our Bank into being. The Bank, formally inaugurated in April 1994 by Dr. Manmohan Singh, Honourable Prime Minister of India who was then the countrys Finance Minister, started with a capital base of Rs.1,000 million (USD 32 million at the prevailing exchange rate), of which Rs.600 million was raised through private placement from Indian Residents while the balance Rs.400 million (USD 13 million) was contributed by Non-Resident Indians. A NEW ERA About IndusInd Bank IndusInd Bank Ltd. is one of the new-generation private-sector banks in India which commenced its operations in 1994. The Bank enjoys a patronage of 2 million customers and has a network of 180 branches, 402 ATMs spread across 147 geographical locations in 28 states and union territories as on September 30, 2009. The Bank also has a Representative Office each in Dubai and London. The Bank's total business (deposits plus advances) as on September 30, 2009 crossed Rs. 40,000 crores. It has multi-lateral tie-ups with other banks providing access to more than 21000 ATMs for its customers. It enjoys clearing and settlement bank status with leading capital, commodity and currency exchanges within India eg - BSE / NSE and commodity exchanges like- MCX, NCDEX, and NMCE. While continuing its drive for efficiency and profitability, IndusInd Bank is a keen participant in the Corporate Social Responsibility space. It is actively engaged in helping mentally-challenged and underprivileged children and on other hand, helps in sensitizing /upholding environmental and ecologically appropriate behaviour. The Bank actively supports Green Practices within the Bank and under its campaign Hum aur Hariyali, it has successfully launched a slew of green initiatives. It is also an active

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supporter of the arts especially in the field of music and dance. CRISIL has assigned Highest P1+ rating to IndusInd Banks Fixed Deposits and Certificates of Deposit. Recently, CRISIL has reaffirmed its P1+ rating of IndusInd Banks Fixed Deposits and Certificates of Deposit programme. ICRA has also assigned the highest A1+ rating to IndusInd Banks Certificates of Deposit.

Board of Directors
Mr. R. Seshasayee - Chairman Mr. R. Seshasayee, a Chartered Accountant, has been Managing Director of Ashok Leyland Ltd. since 1998 and is now the Executive Vice Chairman of Ashok Leyland effective from 1.4.2011. He had held Directorship of ICICI Bank Ltd. from May 6, 1997 to October 31, 2003. During that tenure, he also held the position of Chairman of the Audit Committee of the Board. Mr. Seshasayee has also been member of various Committees of the Society of Indian Automobile Industries. Mr. Seshasayee is Past President of the Confederation of Indian Industry. Dr. T. T. Ram Mohan Dr. Ram Mohan is professor for finance and accounting at IIM Ahmedabad. He studied at IIT Bombay and IIM Calcutta and obtained his doctorate from Stern School of Business, NYU. He worked extensively in consultancy and in the financial sector before entering academics. He has been Divl. Manager with Tata Economic Consultancy Services, Head of Strategy at Standard Chartered Bank and Vice President with Bear Stearns Asia Ltd. (HK). At IIMA, Prof Ram Mohan specialises in the financial sector. His current research interests include banking sector reforms, privatisation and corporate governance. He has run

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training programmes for executives and presented papers at conferences in India and abroad, published papers and authored three books, including one on financial regulation. For past 9 years, he has been writing a fortnightly column for The Economic Times. He was visiting faculty at Stern School of Business, NYU in 2001. He has served on RBI Committees and is on boards of several companies. Mr. Ajay Hinduja Mr. Ajay Hinduja holds a degree in Economics from the University of Geneva with specialisation in finance. Mr. Ajay Hinduja has done internship for five years with international organisations including Society De Banque Suisse, Morgan Stanley and M & M Ferrous. He has experience in the international banking arena, having been Director and Member of the Management Committee of Amas Bank (Switzerland) Ltd. since 1996 and having been on the Board since 2004. Mr. S. C. Tripathi Mr. Sushil Chandra Tripathi, M.Sc. (Physics- Spl. Electronics), Diploma in Development (Cantab.), AIMA Diploma in Management, started his career as Lecturer in Physics in 1964 and joined the Indian Administrative Service in 1968 (Second Rank in the country). He spent nearly 20 years in Finance and Industry sectors at Chief Executive / Secretary levels at the State and Central Government and in representative capacity at international levels. Mr. Tripathi retired as Secretary, Ministry of Petroleum and Natural Gas in the Government of India in December 2005.

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Mr. Ashok Kini Mr. Ashok Kini, a career banker in State Bank of India, retired as Managing Director on December 31, 2005 after 37 years service in the Bank. During his tenure with State Bank of India, Mr. Kini had extensive exposure to the Banks lending activities in the Retail, SSI, Agricultural and Industrial Finance segments and to Information Technology. Mr. Kini is a member of the Boards of Directors of UTI Asset Management Company, Gulf Oil Corporation Ltd. and Financial Information Network & Operations Ltd. Mrs. Kanchan Chitale Mrs. Chitale was Senior Finance Manager at SICOM before she set up her own professional practice as Chartered Accountant. At SICOM, she handled various functions including Project Assessment/Appraisal and Accounts. She managed the Legal and Company Secretarial functions and operations of the newly set up State Government Corporation MOPEC while on deputation from SICOM during 1982-83. She also handled the overseas project assignment in Baghdad in 1982. In practice for nearly 20 years, her main functional areas include Internal and Management Audits of corporates and specialized / concurrent audits of commercial banks and financial institutions. Mrs. Chitale has had extensive Internal Audit exposure as Associate Director of M/s M. P. Chitale & Co., a leading accounting firm in India associated with big corporate names in infrastructure/ construction and in banking industries. She has contributed articles and given talks on professional topics at seminars and conferences. Mr. Vijay Vaid Mr. Vijay Vaid is a graduate from Bombay University having practical experience of almost 36 years in all areas of rubber component manufacturing. Starting with a proprietary firm, he ventured out to establish Vaid Elastomer Processors Limited, which is one of the leading manufacturers of auto rubber components and employs more than 500 persons. He was a member of Executive Committee of Automotive Component Manufacturers Association (ACMA).

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He is Chairman Trustee of two charitable trusts Shri Venkteshwar Nidhi & Vaid Foundation, which are actively involved in providing education and medical relief to the needy. From the day of inception, more than 206 students and 7990 patients have benefited. Mr. R. S. Sharma Mr. R. S. Sharma, a Fellow Member of the Institute of Cost & Works Accountants of India and an Associate Member of the Indian Institute of Bankers, has participated in various management programmes in India and overseas. Mr. Sharma is a former Chairman and Managing Director of Oil and Natural Gas Corporation Ltd. (ONGC). He was also concurrently the Chairman of ONGC Videsh Ltd. (OVL), Mangalore Refinery & Petrochemicals Ltd. (MRPL) and five other ONGC Group companies. Mr. Sharma was associated with various industry associations and federation houses in responsible capacities. He continues to hold the position of Chairman of the FICCI Hydrocarbon Committee. An Honorary Fellow of Institute of Directors (IOD), All India Management Association (AIMA) AND Project Management Association of India (PMA), Mr. R S Sharma had led ONGC and Group companies to a high level of corporate excellence. Mr. Sharma was also conferred with several prestigious awards such as, CNBC TV18 CFO Award in 2005, 2006 and 2007; Amity Corporate Leadership Award in 2009; CII Outstanding performance Award in 2010; ICONOCLAST CEO Award in 2010 and Star Lifetime Achievement Award for HR Leadership in February 2011. Mr. Romesh Sobti Managing Director Mr. Romesh Sobti has joined the Bank as Managing Director & CEO, taking charge from Mr. Bhaskar Ghose. Prior to this assignment, Mr. Sobti was the Executive Vice President Country Executive, India and Head, UAE and Sub-Continent, at ABN

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AMRO Bank N.V. He joined ABN AMRO in November 1990 and graduated from the position of a Chief Manager to the Country Executive over a period of 18 years. In his banking career spanning 33 years, Mr. Sobti has been associated with ANZ Grindlays Bank Plc (now Standard Chartered Bank) and State Bank of India in the past. He holds a Bachelors Degree (Honours) in Electrical Engineering and has also done his Diploma in Corporate Laws and Practice and Secretarial Practice. Mr. Y. M. Kale Alternate Director Mr. Y. M. Kale, FCA (England & Wales) & FCA (India), was President of the Institute of Chartered Accountants of India (ICAI) during 1995 to 1996 and Chairman of ICAIs Accounting Standards Board as well as Audit Practices Committee in earlier years, having been on the apex ICAI Council for 16 years (1982 to 1998). During 1995-98, Mr. Kale was the India Representative in the Board of International Accounting Standards. Since 2002, Mr. Kale is Group President, Corporate Governance & Development in Hinduja Group India Ltd. and a Director in several Group Companies. RBI had appointed him Member of the Group for introduction of Concurrent Audit of banks and Member of DBOD Working Group on Revised Formats for Published Accounts of Banks. He has also served on many Committees constituted by SEBI and by the Government of India. He was also Chairman of a Committee for setting Accounting Norms for trading members of the National Stock Exchange.

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MILLESTONE
Year Business Achievements
2007-08

Business Turnover touched a figure of Rs 31833.16 crores Network of Branches increased to 180 along with 183 off-site ATMS, thus having presence in over 147 geographical locations spread over 28 states including Union Territories A Strategic tie-up with Reliance Securities for offering a value-added 3-in-1 savings accounts-linked package to customer-comprising a saving bank account, a depository account, and an Internet trading account Signed an agreement with National Multi Commodity Exchange Ltd. ) to become their Clearing Bank; It already had such agreements with and NCDEX Strategic partnership with Cholamandlam MS for banc assurance Received recognition in the form of a Certificate of Nomination for the Global Connect Customer Responsiveness Awards. The participants for the award were evaluated on various parameters such as Responsiveness, Intelligence Generation, Intelligence Dissemination, Customer Education, Top management Emphasis, Innovation & Learning Received recognition by BSE and NASSCOM Foundation for the Best Corporate Social Responsibility Practice Category Featured in the Standard and Poor ESG India Index which provided the investors with exposure to liquid and tradable index of 50 of the best performing stocks in the Indian market as measured by environmental, social and governance (ESG) parameters

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2006-2007

Net worth crossed a milestone figure of Rs 1000 crores at Rs 1056 crores Successful completion of GDR issue of Rs 145.96 crores Business turnover touched a figure of Rs 28.700 crores registering a growth of 18.17% over the previous year. Network of Branches increased to 170 along with 99 off-site ATMs, thus having presence in over 141 geographical locations spread over 27 States including Union Territories Highest A1+ rating for its Certificate of Deposits by ICRA and Highest P1+ rating for its FDs by CRISIL. Bestowed with the prestigious IBA Award for technology implementation (STP). Added a number of new business and product lines, viz the launch of Indus GOLD and Indus Gift Card, E-Remittance facility, tie-up with number of Banks for ATM usage, tie-up with Reliance Securities to extend Portfolio Management services and Banc assurance tie-up with Aviva Life Insurance. Ranked among the top ten banks in the country in the ET500 list of leading companies in India. Rated as The best among the top 10 private-sector banks in a survey covering 79 banks conducted by Business Standard in its November 2005 issue. Ranked sixth in the overall list, the bank was also identified the Most Efficient Bank among all banks in India. Bestowed Indias Most Productive Bank status by a Business TodayKPMG Survey Presented Outstanding Achiever of the year 2005- Corporate (Runner upBanking Technology Award) by IBA, Finacle (from Infosys) and TFCI (Trade Fair and Conference International). 2004-05

Business Turnover Crossed Rs 22000 crores Network grew to 115 branches, 9 extension counters and 195 ATMs. Spread over 95 geographical locations

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Bestowed with highest rating for deposits from reputed rating agencies Highest rating P1+ on Fixed Deposits from CRISIL Highest rating P1+ on Certificate of Deposits from CRISIL Highest rating F1+ on Fixed Deposits from Fitch Ratings India Pvt. ltd. Banks second International Representative Office opened in London. th 100 Branch opened at Dadar, Mumbai. Signed an agreement with NCDEX as clearing banker. Launched International Mahila Card. 2003-04

Total business volume touched Rs 19000 crores. Completes 10 years of banking excellence Ashok Leyland Finance merges with the bank The first Indian commercial bank to achieve certification for its Entire Network of Branches under the ISO 9001:2000 Quality Management System. Launch of Debit Card- International Power Card. Banks first International Representative Office in Dubai. One of the first banks to live on RTGS platform.

2002-03 One of the first banks to implement the RBI- Electronic Funds Transfer Scheme. 2001-02 Total business volume touches Rs 14000 crores. Highest productivity in the Indian banking sector with Rs 16 crores of business per employee.

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2000-01 Total business volume crosses Rs 10000 crores

1998-99

IndusInd again rated as one of the Top Performing Banks in various survey reports, for the second year in succession.

1997-98

IndusInd rated as one of the Top Performing Banks in various survey reports

1996-97 Pioneer in launching Internet Banking.

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Brand
IndusInd Bank has been aggressive in its brand building program since last year. As a part of the brand building exercise, the bank has taken many initiatives which have helped the brand connect up with the customers & enhance the visibility quotient. IndusInd Bank had launched its first ever mass media campaign in MayJune 2009 along with its punch line Makes you feel richer and since then, the bank has been consistent in communication through Television, Radio, and Outdoor & print advertising. IndusInd Bank understands its customers money is not just money. It is the vehicle to realize their dreams! Hence, the bank aims to ensure that the customers experience with the bank is pleasant and enriching. That they get value for their money, enabling them to lead a richer, fuller, content life... For this, the bank: Offers a new level of banking better services, better understanding of unique needs and better management of finances Demystifies the banking process and makes it more accessible Apart from fulfilling traditional banking responsibilities, advises customers on how and where to use their money to get the best out of it Projects an image of being a young, energetic, modern bank with values of dynamism, confidence and progression Further, as a banking partner, the bank also aims to help its customers discover how they can do more things with their money. In the recent advertising campaign, the Bank reinforces its focus on Innovative banking based on the philosophy of Responsive Innovation. The bank is taking responsiveness theme to customers and reinforces its commitment to give bestof-class services in the industry.

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Your favorite IndusInd Bank TV Commercials

Cash on Mobile ATMs

Direct Connect Service

Quick Redeem Service

IndusInd Bank Open 365 Days

IndusInd Check on Cheque

IndusInd Choice Money ATM

IndusInd Ready2Use Savings Account

IndusInd Online Payments

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Mission & Vision

Mission-

We will consistently add value to all our stakeholders and emerge as the Best in class in the chosen parameters amongst the comity of banks, by doubling our profits, clients and branches within the next three years.

VisionIndusInd Bank will be: A relevant business and banking partner to its clients Customer Responsive, striving at all times to collaborate with clients in providing solutions for their Banking needs A forerunner in the market place in terms of profitability, productivity and efficiency Engaged with all our stakeholders and will deliver sustainable and compliant returns

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Products

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PRODUCTS

PRODUCTS OFFERED BY INDUSIND BANK

Bank offers various products in terms of servicing its customer. The bank has tried to tab the growth of the retail sector & has come with various products, Priority Banking being one of them. Bank has pushed the retail banking through a wide spread distribution network & through the growth of the banks Product& customer base. Bank has also tried to enhance cost Efficiency by leveraging technology that is continuous upgrading & customer base.

Saving Account Induslnd Bank offers you a Regular Saving Account with host of convenient features and banking channels to transact through. So, now you can bank at your convenience, without the stress of waiting in queues.

Current Account In todays fast-paced world, your business regularly requires you to receive and send funds to various cities in the country. INDUSIND Bank Regular Current Account gives you the power of inter-city banking to more than 200 cities.

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Fixed Deposits Safety, Flexibility, Liquidity and Returns!!! A Combination of unbeatable features of the Fixed Deposit from INDUSIND Bank.

Credit Cards-

An INDUSIND Bank credit card gives you the facility of cash, convenience and a range of benefits, anywhere in the world. These benefits range from life time free cards, insurance benefits, global emergency assistance service, discount, utility payment, travel discount, and much more.

Debit CardsThe INDUSIND Bank Debit Card is a revolutionary form of cash that allows customers to access their bank account around the clock, around the world.

INVESTMENT At INDUSIND Bank, we care about all your needs. Along with deposit products and loan offerings, INDUSIND Bank assists you to manage your finance by providing various investments options ranging from INDUSIND Bank offers to investment in mutual funds and pure gold. You can invest in above products through any of our branches. For selected products INDUSIND Bank also provides, the ease of investing through electronic channels like ATMs and Internet (www.indusindbank.com).

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E-Instructions : You can transfer securities 24 hours a day, 7dys a week through Internet & Interactive Voice Response (IVR) at a lower cost. Now with Speak to transfer, you can also transfer or pledge instructions through our customer care officer.

Mutual Fund IndusInd bank has tied-up with almost all the mutual funds in the country for distribution pan India. We are currently distributing schemes of the following mutual fund:-

ABN AMRO BIRLA BOB CHOLAMANDALAM CANBANK DSP DEUTSCHE FIDELITY HSBE HDFC ING JM General Insurance:

LIC PRINCIPAL PRUICICI RELIANCE STANDARD CHARTERED SAHARA SBI SUNDARAM TEMPLETON TATA TAURAS UTI

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IndusInd Bank has tied up with Aviva Life Insurance Has 3 Plans:

1. Life Long : - A Plan flexible enough to adapt to your lifes changing needs.

2. Pension Plus: - Why wait till your 60th birthday to follow your hearts?

3. Save Guard : - A simple way to secure your service.

General Insurance: IndusInd Bank has tied up with CHULAMANDULAM 1. Health Insurance 2. Marine Insurance 3. Stock Insurance

RETAIL BANKING Accounts and Deposits: Saving Accounts Regular Saving Account Privilege Saving Account Privilege Plus Saving Account

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Current Account Regular Current A/C Business Current A/C

Term Deposit Fixed Deposit Flexi term deposit

SAVING ACCOUNT

A safe and easy way to save your money is with a bank saving account. A saving allows you to deposit money in the bank and earn interest own that money over the course of time. A saving account allows you to deposit money (add money to your account) or withdraw money (remove money from your account) at any time. In return for keeping your money at the bank, the bank pays you money, also known as interest.

There different types of savings account available and each depends on the amount of money you will be depositing, whether or not you want easy access to your funds and how long you want to keep your money in your account. Interest will be earned on the money you have on deposit at the bank. Since you may deposit or withdraw money each day, the bank will calculate how much money you should receive in interest. You will also receive a periodic statement from the bank listing your deposits, withdrawals, interest, and account balances.bank may pay a

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different amount of interest, so it makes sense to look at several banks to decide which one to use.

Saving Bank Accounts are meant to promote the habit of saving among the citizens while allowing them to use their funds when required. It also facilitates safe keeping of money. In this scheme fund is allowed to be withdraw whenever required, without any condition. Hence a saving account is a safe, convenient and affordable way to save your money.

A. Product Definition A saving bank account is the most common operating account for Individuals and others for non-commercial transactions. It helps people to put through day to day banking transactions besides earning some return on the made.

B. Target Segment By a person in his/her name and By two or more persons in their joint names payable to, Both or all of them of the survivor or survivors of them OR Either or any more of them or the survivor or survivors of them OR Former/Letter or survivor of a particular person during his lifetime or survivor jointly or survivor.

C. Documentation Dully filled account opening form as per KYC Norms. o Address Proof o Photo identity Proof o Pan no/Form 60 o 2 Passport size photograph o D. Types of Saving Account

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 Regular Saving A/C Privilege Saving A/C Privilege Plus Saving A/C

Regular Saving A/C

Features : Average Balance ( Average Monthly Balance) Rs.5000/- in A Class centers Rs.3000/- in B Class centers Rs.1500/- in C Class centers

Services offered-

Free Personalized Multicity cheque book Free Internet banking

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Nomination Facility Free quarterly statements OR Monthly e- Statement/Pass Book Facility Life Insurance covers at concessional premium Free Utility Bill Payment facility Free International debit card

Documentation

KYC Compliance Address Proof Photo Identity Pan no/form 60 2 pp size photographs Interest Rate 3.50% Service Charges No Service charges applicable subject to maintenance of stipulated balance.

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Privilege Savings A/C

Features: Average Quarterly Balance-

A Class Branches Rs.20000/ B Class Branches - Rs.10000/C Class Branches - Rs. 5000/-

Advantages:

Bank deposits are fairly safe because banks are subject to control of Reserve Bank of India with regard to several policy and operational parameters. Saving Bank account does not have any fixed period for deposit. The depositor can take money from his account by writing a cheque to somebody else or submitting a cheque directly. Most of the banks offer various facilities such as ATM card, credit card etc. Many of the banks also give internet banking facility through with one do the transactions like withdrawals, deposits, statement of account etc.

KYC Compliance Address Proof Photo Identity Pan no/form 60 2 pp size photographs

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Interest Rate 3.50% Service Charges Non-maintenance charges will be levies, if the required AQB is not maintained.

Privilege Plus Savings A/C Features: -

Average Quarterly Balance

A Class Branches Rs.50000/-

B Class Branches Rs.30000/ C Class Branches Rs.20000/-

Services offered Free International Debit Card, ATM-5000 & POS-100000 Free personalized Multicity cheque book Free Internet Banking Free DD (Subject to transfer from A/c) Doorstep Banking Monthly Statement/E-mail statements/Passbook facility Free Utility Bill Payment facility Nomination facility

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Life Insurance cover at concessional premium Free foreign Inward Remittance Lockers at concessional rate Loyalty Points on Mobile Recharge from ATM Special discount on Suvarna Mudra

Current account Current deposits plan is ideal for professionals and provides flexibility through overdraft facility. The most basic and flexible deposit option for those whose transactions take the form of an everyday exercise.

What is current account?

A running account supporting unlimited withdrawals and deposits. In a current account, a customer can deposit any amount of money any number of times. He can also withdraw any amount as many times as he wants, as long as he has funds to his credit. Current Accounts are meant neither for the purpose of earning interest nor for the purpose of savings but only for convenience of the business.

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Who needs a Current Account Businessman, Joint stock companies, institutions, public authorities, public corporations etc. Any business that has numerous banking transactions needs a current account that has numerous daily banking transactions. A. Product Definition A current account is opened usually for commercial or Business purposes where there a large number of transactions. It is a running and active account and there are no restrictions on the number of transactions and the amount of transactions.

B. Target Segment Current accounts are opened by those who have commercial interest and have the needs to issue many cheques. These include:

Individuals Sole Proprietorship Hindu Undivided Families (HUF) Partnership Trusts Association/Societies and Clubs

C. Documentation Account opening form duly as per KYC norms Identify proof of the authorized signatories Address Proof authorized signatories

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Data analysis

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Research methodology

4.1 Statement of research problem:-

PROBLEM DEFINATION: Sales Executives were with good background human being and through rigorous process of recruitment but still not able to perform up to the expectation level of company, HR is not able to sort out the problem why the performance is not coming even after giving the full marketing support. . The communication technique and dealing with the Customer is also a problem to the sales executives.

4-2 OBJECTIVES OF RESEARCH PROJECT:

RESEARCH OBJECTIVES: To find out the customer preferences while opening Savings A/c. To study brand image of the bank. To increase the business of the bank.

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4.3 Research Design and Methodology

Primary data source: All the people from different profession were personally visited and Interviewed. They were the main source of Primary data. The method of collection of primary data was direct personal interview through a structured questionnaire.

Secondary Data Source: It was collected from internal sources. The secondary data was collected on the basis of organizational file, official records, news papers, magazines, management.

SAMPLING PLAN: Since it is not possible to study whole universe, it becomes necessary to take sample from the universe to know about its characteristics. Sampling Units: Customers Sample Technique: Random Sampling. Research Instrument: Structured Questionnaire. Contact Method: Personal Interview.

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SAMPLE SIZE:
My sample size for this project was 100 respondents. Since it was not possible to cover the whole universe in the available time period, it was necessary for me to take a sample size of 100 respondents.

RESEARCH LIMITATIONS: It was not possible to understand thoroughly about the different marketing aspects of the Financial Consultant within 60 days. As stipend, money was not given it was difficult to continue the project work. All the work was limited in some limited areas of Bangalore so the findings should not be generalized. The area of research was Bangalore and it was too vast an area to cover within 60 days. All the findings and conclusions obtained are based on the survey done in the working area within the time limit. I tried to select the sample representative of the whole group during my job training. I have collected data from people linked with different profession at Bangalore.

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4.4 Data Analysis Q 1:What is your Monthly Transaction in your account ? Monthly transactions 5-20 lakhs 20-40 lakhs 40 lakhs and above Total No. of respondents 28 59 13 100 % (percentage) 28% 59% 13% 100%

70% 60% 50%

nalysis:
40% 30%

05L- 20L 20L - 40L 40L - Above 59% respondents gave their answer in 20-40 lakhs transactions.

Analysis:
10% 0%

20%

59% respondents gave their answer in 20-40 lakhs transactions 28% respondents gave their answer in 0-20 lakhs transactions.
05L- 20L 20L - 40L 40L - Above

Question 2

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Do you have a Saving Account? Response Yes No No. of respondents 97 3 % 97% 3%

3%

97%

Yes

No

Analysis: 97% respondents have the saving accounts and only 3% do not have saving account

Question 3

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In Which Bank? Bank Kotak mahindra HDFC Co-operative ICICI Nationalized No. of respondents 3 33 48 5 31 % 3% 33% 48% 5% 31%

Kotak Mahindra Bank, 3% Co- Operative Bank, 48%

HDFC, 33%

ICIC I, 5% Nationalized, 31%

HDFC

ICICI

Nationalized C o- Operative Bank Kotak Mahindra Bank

Question 4 Which Factors do you consider for opening a Savings Account? No. of respondents 10 20

Accessibility Minimum balance

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DD/pay order Free cheque Debit card Cash deposit Cheque pick up Net banking Mobile banking At per cheque NEFT

13 10 8 7 2 16 7 3 2

Accessibility 20 18 16 14 12 10 8 6 4 2 0 Cash deposit Cheque pick up Net banking Mobile banking At per cheque
Analysis:

Minimum balance DD/pay order Free cheque Debit card

NEFT

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Respondents gave their answer10% respondents gave their answer in accessibility, 20% Minimum balance, 13 % DD/pay order, 10% Free cheque, 8% Debit card, 7% Cash deposit, 2% Cheque pick up, 16% Net banking, 7% Mobile banking, 3% At per cheque, 2% NEFT, 2% RTGS

Question 5 Which mode of transaction do you avail of frequently? Response Pay order DD Cheque Total No. of response 12 22 76 100 % 12 22 76 100

Pay Order, 12%

DD, 32%

Cheque, 76%

Cheque

DD

Pay Order

Analysis:

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12% Response in pay order, 32% like DD, and 76 % costumer want from cheque mode. Question 6 Which types of transaction do you make ?

Response Intercity Outside city Both Total

No. of respondents 33 15 52 100

% 33 15 52 100

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Inter city, 33% Both 52% ,

, 15%

Analysis:33% account holder transaction intercity, 52 % Both, and 15% outside city. Question 7 Does your bank assist you in case of any problem? Response Yes No Total No. of respondents 90 10 100 % 90 10 100

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Outsid e

10%

90%

Yes

No

Analysis: 90% say Yes bank will assist you in case of any problem, only 10% say No

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4.5 Summary of Findings The final draft of the questionnaire was prepared on the basis of the observations from the pilot study. These were then finally filled by 100 customer, for the conclusive study. Finally the data collected was fed into the data analysis to be analyzed using statistical techniques.

Obtaining the Primary Data: The data collection was primarily done through communication. Communication involves questioning respondents to secure the desired information, using a data collection instrument called questionnaire. The questions were in writing and so were the responses. Versatility: It is the ability of a technique to collect the information on the many types of primary data of interest to marketers. It also been found that some of the people do not answer truthfully to all the questions especially in the case of the personal detail

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Conclusion and recommendations

Conclusions and Recommendations

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Contract Sales Executive (CSE) should be trained to explain the product features and its value added services to make customers product selection convenient. Contract Sales Executive (CSE) should recommend right product to the right customer so as to ensure a high degree of satisfaction among the customer. The bank needs to make people aware about there products and the basic benefits they can derive out of it. And also the differential features of its savings account as compared to other banks.70% of the people did not even know about the concept, benefits and features of its saving accounts. 5. The bank should also target small business unit for whom maintenance of the AQB is not a problem as this segment is not much penetrated.

LIMITATIONS Some of the limitations of the project are listed as below: The time bound period is the major limitation in research projects. Due to the financial and time constraints a cluster analysis of the population so 1. as to get better results was not feasible.

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Bibliography

BIBILIOGRAPHY

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1.BOOKS & AUTHORS Marketing Management 2. NEWS PAPERS Times of India Financial Express 3. WEBSITES www.hdfcbank.com www.google.com

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