Axis Final

KLE Society’sINSTITUTE OF MANAGEMENT STUDIES AND RESEARCH

Vidyanagar, HUBLI-580 031, E-mail: [email protected]: www.klesimsr.org

(Approved by AICTE, New Delhi & Affiliated to Karnatak University Dharwad)

A Project Report on

“CUSTOMER SATISFACTION OF iCONNECT CUSTOMERS ”

Undertaken at

Hubli

Submitted in fulfillment of the requirement for the award ofMASTERS DEGREE IN BUSINESS ADMINISTRATION of

Karnataka University, Dharwad.During the academic year 2006-2008

*SUBMITTED BY*Ms Archana. WaliMBA II Semester

Exam no. MBA0702009

Institute Guide Company Guide Prof-Prashant C Mr. Aslam Ahmed Faculty Manager Operations KLES’s IMSR Axis Bank - Hubli

KLES’s Institute of Management Studies and Research, Hubli

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http://www.klesimsr.org/

Executive Summary

The report goes on to describe the satisfaction level of iConnect

Customers. It also captures the important key issues which tells why

customers prefer internet banking, how frequently they use internet

banking, and which banks internet banking account they use more

frequently compared to axis bank’s iConnect.

Internet banking has been gaining ground in our country with more and

more people accessing the internet facility. Internet provides unlimited

access to information, products and services. The internet also enables

people to undertake several banking transactions online right on the

desktop. For banks it provides a powerful medium to widen the reach at

lower cost.

TITLE OF THE PROJECT

“Study on Customer Satisfaction of iConnect customers at Axis

Bank”

ORGANISATION: AXIS BANK, HUBLI

OBJECTIVES

To find the Customer Satisfaction Level of internet banking customers.

SUB OBJECTIVES:

To understand the operations in Axis bank.

To understand the online services and products of Axis Bank.

To calculate the satisfaction level of the customers towards different

facilities provided by iConnect.


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To know where Axis Bank stands when compared to its competitors.

NEED FOR THE STUDY

The Indian Banking industry comprises segments that

provide comprehensive banking services to individuals, corporate and

small business. Industry segments are Public Sector Banks, Private Sector

Bank and Foreign Banks.

In this Project the report is mainly focused to know where axis stands in

terms of the overall performance and customer satisfaction levels.

METHODOLOGY OF DATA COLLECTION

SOURCES OF DATA

PRIMARY DATA

Interaction with the Branch manager and employees.

Questionnaire

SAMPLE SIZE- 100

SAMPLING METHOD- Stratified Random Sampling.

ANALYSIS - SPSS Package

SECONDARY DATA

Secondary information is to collect through websites and magazines and

company documents.

Websites

1. www.axisbank.com

2. www.economywatch.com

3. www.investopedia.com

4. Online Banking - wikipedia


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http://www.investopedia.com/

http://www.economywatch.com/

http://www.axisbank.com/

LIMITATION

As the research was carried out in Hubli city, so all the information

sought is restricted to this city only.

The study is based on the sampling method hence limitation of

sampling method are applicable.

BANKING INDUSTRY OVERVIEW

Introduction:

Banking Industry has revolutionized the transaction and financial

services system worldwide. Through the development in technology

banking services has been availed to the customers at all times, even after

the normal banking hours, on a 24x7 basis. Banking Industry services is

nothing but the access of most of the banking related services (such as

verification of account details, going with the transactions, etc.). In todays

world, progress of online services is available to all customers of the

concerned bank and can be accessed at any point of time and from

anywhere provided the place is equipped with the Internet facility. Now-

a-days, almost all the banks all over the world, especially the

multinational ones, provide their customers with online-banking.

History:

Banking in India has its origin as carry as the Vedic period. It is


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believed that the transition from money lending to banking must have

occurred even before Manu, the great Hindu jurist, who has devoted a

section of his work to deposits and advances and laid down rules relating

to the interest. During the mogul period, the indigenous bankers played a

very important role in lending money and financing foreign trade and

commerce. During the days of East India Company, it was to turn of the

agency houses top carry on the banking business. The general bank of

India was the first joint stock bank to be established in the year 1786.The

others which followed were the Bank of Hindustan and the Bengal Bank.

The Bank of Hindustan is reported to have continued till 1906, while the

other two failed in the meantime. In the first half of the 19 th Century the

East India Company established three banks; The Bank of Bengal in

1809, The Bank of Bombay in 1840 and The Bank of Madras in

1843.These three banks also known as presidency banks and were

independent units and functioned well. These three banks were

amalgamated in 1920 and The Imperial Bank of India was established on

the 27th Jan 1921, with the passing of the SBI Act in 1955, the

undertaking of The Imperial Bank of India was taken over by the newly

constituted SBI. The Reserve Bank which is the Central Bank was created

in 1935 by passing of RBI Act 1934, in the wake of swadeshi movement,

a number of banks with Indian Management were established in the

country namely Punjab National Bank Ltd, Bank of India Ltd, Canara

Bank Ltd, Indian Bank Ltd, The Bank of Baroda Ltd, The Central Bank

of India Ltd .On July 19th 1969, 14 Major Banks of the country were

nationalized and in 15th April 1980 six more commercial private sector

banks were also taken over by the government. The Indian Banking

industry, which is governed by the Banking Regulation Act of India

1949, can be broadly classified into two major categories, non-scheduled

banks and scheduled banks. Scheduled Banks comprise commercial


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banks and the co-operative banks.

The first phase of financial reforms resulted in the nationalization

of 14 major banks in 1969 and resulted in a shift from class banking to

mass banking. This in turn resulted in the significant growth in the

geographical coverage of banks. Every bank had to earmark a min

percentage of their loan portfolio to sectors identified as “priority sectors”

the manufacturing sector also grew during the 1970’s in protected

environments and the banking sector was a critical source. The next wave

of reforms saw the nationalization of 6 more commercial banks in 1980

since then the number of scheduled commercial banks increased four-

fold and the number of bank branches increased to eight fold.

After the second phase of financial sector reforms and

liberalization of the sector in the early nineties. The PSB’s found it

extremely difficult to complete with the new private sector banks and the

foreign banks. The new private sector first made their appearance after

the guidelines permitting them were issued in January 1993.

This is how the Banking Industry grew.

The Indian Banking System:

Banking in our country is already witnessing the sea changes as the

banking sector seeks new technology and its applications. The best port is

that the benefits are beginning to reach the masses. Earlier this domain

was the preserve of very few organizations. Foreign banks with heavy

investments in technology started giving some “Out of the world”


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customer services. But, such services were available only to selected few-

the very large account holders. Then came the liberalization and with it a

multitude of private banks, a large segment of the urban population now

requires minimal time and space for its banking needs.

Automated teller machines or popularly known as ATM are the

three alphabets

that have changed the concept of banking like nothing before. Instead of

tellers handling your own cash, today there are efficient machines that

don’t talk but just dispense cash. Under the Reserve Bank of India Act

1934, banks are classified as scheduled banks and non-scheduled banks.

The scheduled banks are those, which are entered in the Second Schedule

of RBI Act, 1934. Such banks are those, which have paid- up capital and

reserves of an aggregate value of not less then Rs.5 lacs and which satisfy

RBI that their affairs are carried out in the interest of their depositors. All

commercial banks Indian and Foreign, regional rural banks and state co-

operative banks are Scheduled banks. Non Scheduled banks are those,

which have not been included in the Second Schedule of the RBI Act,

1934.

The organized banking system in India can be broadly classified

into three categories: (i) Commercial Banks (ii) Regional Rural Banks

and (iii) Co-operative banks. The Reserve Bank of India is the supreme

monetary and banking authority in the country and has the responsibility

to control the banking system in the country. It keeps the reserves of all

commercial banks and hence is known as the “Reserve Bank”.


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Current scenario:-

The growth in the Indian Banking Industry has been more qualitative than

quantitative and it is expected to remain the same in the coming years.

Based on the projections made in the "India Vision 2020" prepared by the

Planning Commission and the Draft 10th Plan, the report forecasts that

the pace of expansion in the balance-sheets of banks is likely to

decelerate. The total assets of all scheduled commercial banks by end-

March 2010 is estimated at Rs 40,90,000 crores. That will comprise about

65 per cent of GDP at current market prices as compared to 67 per cent in

2002-03. Bank assets are expected to grow at an annual composite rate of

13.4 per cent during the rest of the decade as against the growth rate of

16.7 per cent that existed between 1994-95 and 2002-03. It is expected

that there will be large additions to the capital base and reserves on the

liability side.

Bank is a financial institution that borrows money from the public and

lends money to the public for productive purposes. The Indian Banking

Regulation Act of 1949 defines the term Banking Company as "Any

company which transacts banking business in India" and the term

banking as "Accepting for the purpose of lending all investment of

deposits, of money from the public, repayable on demand or

otherwise and withdrawal by cheque, draft or otherwise".

Banks play important role in economic development of a country, like:

o Bank mobilise the small savings of the people and make them

available for productive purposes.


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Promotes the habit of savings among the people thereby offering

attractive rates of

interest on their deposits

o Provides safety and security to the surplus money of the depositors

and as well provides a convenient and economical method of payment.

Banks provide convenient means of transfer of fund from one place to

another.

Helps the movement of capital from regions where it is not very useful

to regions where it can be more useful.

Banks advances exposure in trade and commerce, industry and

agriculture by knowing their financial requirements and prospects.

Bank acts as an intermediary between the depositors and the investors.

Bank also acts as mediator between exporter and importer who does

foreign trades.

Thus Indian banking has come from a long way from being a sleepy

business institution to a highly pro-active and dynamic entity. This

transformation has been largely brought about by the large dose of

liberalization and economic reforms that allowed banks to explore new

business opportunities rather than generating revenues from conventional

streams (i.e. borrowing and lending). The banking in India is highly

fragmented with 30 banking units contributing to almost 50% of deposits

and 60% of advances.


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Company Profile

Company Profile

Introduction:

Axis Bank was the first of the new private banks to have begun

operations in 1994, after the Government of India allowed new private

banks to be established. The Bank was promoted jointly by the


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Administrator of the specified undertaking of the Unit Trust of India (UTI

- I), Life Insurance Corporation of India (LIC) and General Insurance

Corporation of India (GIC) and other four PSU insurance companies, i.e.

National Insurance Company Ltd., The New India Assurance Company

Ltd., The Oriental Insurance Company Ltd. and United India Insurance

Company Ltd.

The Bank today is capitalized to the extent of Rs. 358.56 crores with the

public holding (other than promoters) at 57.60%.

The Bank's Registered Office is at Ahmedabad and its Central Office is

located at Mumbai. Presently, the Bank has a very wide network of more

than 701 branch offices and Extension Counters. The Bank has a network

of over 2854 ATMs providing 24 hrs a day banking convenience to its

customers. This is one of the largest ATM networks in the country.

The Bank has strengths in both retail and corporate banking and is committed to adopting the best industry practices internationally in order to achieve excellence

The latest offerings of the bank along with Dollar variant is the Euro and

Pound Sterling variants of the International Travel Currency Card. The

Travel Currency Card is a signature based pre-paid travel card which

enables travelers’ global access to their money in local currency of the

visiting country in a safe and convenient way.

Mission

Customer Service and Product Innovation tuned to diverse needs of

individual and corporate clientele.

Continuous technology up gradation while maintaining human values.

Progressive globalization and achieving international standards.


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Efficiency and effectiveness built on ethical practices.

Core Values

Customer Satisfaction through

Providing quality service effectively and efficiently

Smile, it enhances your face value" is a service quality stressed on

Periodic Customer Service Audits

Maximization of Stakeholder value

Success through Teamwork, Integrity and People

Organization

Basically an organization is a group of people intentionally organized to

accomplish an overall, common goal or set of goals. Business

organizations can range in size from two people to tens of thousands.

There are several important aspects to consider about the goal of the

business organization. These features are explicit (deliberate and

recognized) or implicit (operating unrecognized, "behind the scenes").

Ideally, these features are carefully considered and established, usually


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during the strategic planning process. (Later, we'll consider dimensions

and concepts that are common to organizations.)

Types of organization

a. Formal organization.

b. Informal organization.

a. Formal organization:

The formal organization or group exist in all organization .it is a

group of the people working together in all co-operation under the

authority towards common goal, objectives for the mutual benefit

of the participants.

The formal groups are created to carry out some specific

work to meet some goals of the organization

b. Informal Organization:

The informal organization refers to relationship between peoples

in the organization based not on procedure and regulation laid down in

the organization but on the personal attitude friendship or some

common interest which may or may not be work related informal

organization.

Departmentation:

Departmentation is the process of dividing and grouping the activities of

an enterprise in the various units for the purpose of administration .the

units for the purpose of administration .the units are designated as

departments’ division sector or branches.

Departmentation facilitates the benefits of

specialization .it aims at achieving units of directing, co-operation, co-


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ordination, control and effective communication .it leads to effective

performance of activities of the enterprise

ORGANIZATION CHART OF UTI BANK

CHAIRMAN /CMD

DIRECTOR

CORPORATE BANKING

CORPORATE RETAIL BANKING

CORPORATE OPERATION BANKING

CORPORATE PROJECT AND PLANNING BANKING

CORPORATE FINANCE AND ACCOUNT BANKING

CORPORATE INSPECTION AND AUDIT BANKING

CORPORATE SUPPORT SERVICE BANKING

CORPORATE INFORMATION TECHNOLOGY BANKING

CORPORATE MARKETING BANKING


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VICE - PRESIDENT

ASSISTANT VICE PRESIDENT

NORTH ZONE

SENIOR VICE PRESIDENT

VICE - PRESIDENT

ASSISTANT VICE - PRESIDENT

SOUTH ZONE


EAST ZONE


VICE - PRESIDENT


WEST ZONE


VICE - PRESIDENT


Axis bank has 5 departments


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OPERATIONS, SALES MANAGERS AND CREDIT MANAGERS

OPERATIONS, SALES & CREDIT DEPUTY MANAGERS

EXECUTIVES

JUNIOR EXECUTIVES

SALES EXECUTIVES


OPERATIONS, SALES MANAGERS AND CREDIT DEPUTY MANAGERS

JUNIOR EXECUTIVES



JUNIOR EXECUTIVES



JUNIOR EXECUTIVES

EXECUTIVES EXECUTIVES EXECUTIVES

SALES OFFICERS SALES OFFICERS

SALES EXECUTIVES

SALES EXECUTIVES

SALES EXECUTIVES

1. Cash department

2. Credit department

3. Marketing department

4. Clearing department

5. Operation department

CASH DEPARTMENT:

It is mainly concerned with cash transactions of day to day activities these dept have

playing very much important role because more number of people are coming to this

dept.

this dept has 50% to 80% decision making power this dept has fully co-

operate with other dept performance of this dept will be appraised by the way of

branch performance based. This dept would have any plans for reaching its targets.

FUNCTIONS OF CASH DEPARTMENT:

1. Handling daily cash transactions.

2. balancing figure at the end of the day

3. maintaining cash levels of the branch

MARKETING DEPARTMENT:

It is concerned with achieving branch targets through creating new customers

and provides better service to these customers these dept has 50% to 100% decision

making power this dept has fully co-operate with other dept this dept performance can

be appraised through branch performance this is having following plans for reaching

its targets by

a) By obtaining some new customers

b) By generating new business through existing customers.

FUNCTIONS OF MARKETING DEPARTMENT

1. Achieving branch targets.


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2. co-operating with sales executives

3. customer service

4. Opening of new accounts.

5. building new relations

OPERATION DEPARTMENT:

It is heart of the Axis bank this department has control the overall operations of the

Axis bank .This department has handling customer queries and giving proper

information to needy customers this department having 30% to 80% decision making

power. This dept is fully co-operate with other dept this dept performance can be

appraised branch performance and self appraised based .this dept also having plans to

achieve its targets

They are gross selling plan, marketing and contribution to the branch target plans to

reach its objectives.

FUNCTIONS OF OPERATION DEPARTMENT

1. DD drafting

2. Out station cheques realigning

3. Attending customers query regarding day to day transactions.

4. Handling government business.

5. Handling RTGS (Real time gross settlements system).

6. Transfers

7. Remittances.

CREDIT DEPARTMENT:

Credit department has mainly concern with credit transactions of the bank like

giving loans, recovers loans etc are included in these department this department

performance can be appraised through giving targets. This department having 50% to

80% decision making power and this department has co-operated with other

department whenever other departments needed. This department different plans for


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reaching its targets they are, credit appraised of balance sheet, financial strength and

ratio analysis.

FUNCTIONS OF CREDIT DEPARTMENT

1. Screening of proposals.

2. Documentations.

3. Disbursements of loans.

CLEARING DEPARTMENT:

Clearing has mainly concerned with clearing cheques of the customers this

department having 20% to 30% decision making power this department performance

can be appraised through branch performance ,this department does not have any

plans for reaching targets

FUNCTIONS OF CLEARING DEPARTMENT

1. Out stations of cheques.

2. Local’s cheques.

3. CBSS (software name used for giving information to the current account

holders).

1. Basic services: basic services include

a) saving account

b) term deposit

c) recurring deposits

d) demat account

e) ATM’s

f) En cash - 24

g) Special savings account

h) Residence and foreign currency account

i) Easy access through channels

j) I connect

k) corporate I connect


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l) 24 - hr tele banking

AXIS Bank Products


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Domestic Savings Bank-

Retail

Domestic Savings Bank-

Institutional

Non Resident-Savings Bank

Current Accounts

(CA)

Fixed Deposits (FD)

Other Associated Products

Personal Investment Products

Priority A/c Trust A/cNRI Priority

A/cNormal

Current A/cShort Term Deposits

Gold Coins

General Insurance:

Family Health

Prime A/cSalary

RelationshipNRI Prime A/c

Business Advantage

A/c

Reinvestment Certificate

Visa Gold Internantional

Debit Card

General Insurance:

Silver Health

Senior Privilege A/c

NRI Normal A/c

Business Classic A/c

Monthly Income

Certificate

Master Card Business

International Debit Card

Life Insurance

Smart Privilege A/c

NRI PIS A/cBusiness

Privilege A/c

Quarterly Income

CertificateDemat A/c

Mutual Fund

Easy Access A/c

NRI Salary A/c

Channel One A/c

Recurring Deposit

Credit Card

Mariners International

A/c

Business Global A/c

Senior Citizen Deposit

Mobile Banking

CA for Builder and Real Estate

Encash 24 Flexi 2-in-1

A/cTCDC A/c

CA Club 50 A/c

Online Trading A/c

Current Capital A/c

Business Krishi A/c

Shipping and Maritime A/c

Inland Road Transport A/c

TYPES OF SAVINGS ACCOUNTS:

1. Easy access account.

2. Salary account

3. Women’s savings account

4. Senior privilege account

5. Defense Salary account

6. Trust/NGO savings account

7. Azadi-no frills

8. RFC(D)

LOANS:


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A loan is a kind of advances made by a bank to its customer with or without

security .in the case of loan the bank makes a lump sum payment to the borrower

under a separate account or credits his existing account with the amount of loan

sanctioned. Such a loan is given for fixed period at an agreed rate if interest .the loan

is required to be repaid either in a lump sum at the end of the period or installment as

per agreement.

SRAC (SETLITE RETAIL ASSET CENTER)

Axis BANK newly launched this center 8th June 2006, in this center bank is providing

different kind of loans to the customers like;

Retail Loans OF UTI BANK:

Power Drive

Power Home

Asset power

Personal Power

Study Power

But in Hubli branch they are providing mainly three kinds of loans they are

a) Personal power b) Power home c) Mortgage loan.

This center located in PIZZA HUT near Desai cross, in this center six member are

working one is for personal loan another one is for housing loan and mortgage loan.

Another two members are working for document verification. This branch outsourced

one work that is generating leads for SRAC and it is also having recovery agency. In


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http://www.utibank.com/consumerloans/educationloans.html

http://www.utibank.com/consumerloans/personal_loans.html

http://www.utibank.com/consumerloans/powerhome.html

http://www.utibank.com/consumerloans/autoloans_offering.html

this bank they are all using modern technology like internet, Xerox machine, printer

etc which is helpful for their work.

Current Accounts- Products

Normal Current Account

Business Advantage Account

Business Classic Account

Business Privilege Account

Channel One Account

Business Global Account

Current Account for Builder and Real Estate

Current Account Club 50 Account

Current Capital Account

Krishi Current Account

Current Account-Ship and Maritime Account

Current Account Inland Road Transport Account

Current Account- Travel, Tourism and Hospitality

Current Account-Documentation

Present


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The Bank has set up a Call Centre, available 24/7, providing assistance in 11

languages.

The Call Centre as of March 2007 handled over 20,000

calls per day.

With 508 branches, 53 extension counters, 2,341 ATMs, 3.35 million internet banking

customers and 1.10 million mobile registered customers,

the Bank provides one of the best networks in the country with real time on-line access to

it customers.

NRI Services

Dedicated NRI Relationship Managers

• Physical Relationship Manager – Select branches

• eRelationship Manager ([email protected]) - All branches

FREE International VISA debit card (Only for NRI Prime & NRI Priority)

Free Domestic Savings account (Only for NRI Prime & NRI Priority)

AT PAR cheque book (unlimited FREE for NRI Prime & NRI Priority)

Financial Advisory Services*

Tax Advisory Services from our empanelled consultants*

Assistance to obtain Income Tax PAN Cards*

SMS alerts facility on Indian & Overseas mobile numbers

Portfolio Investment Services – For NRIs to invest in Indian Stock Markets


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Project Background


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A Brief History of Internet Banking

The main purpose that banks have been serving since their inception is

keeping our money safe for us. While keeping our money safe, they also

let us earn a certain amount of interest on the money deposited with them.

Traditional banks have been doing this, and internet banks continue the

same function. The only difference is in the way the transactions are

made.

Online banking has been around for quite a few years. In fact, it was

introduced in the 1980s and has come a long way since then. The last

decade has seen a profuse growth in internet banking transactions.

Several pieces of legislation have also been introduced in this area.

Though it began in the 1980s, it was only in the mid nineties that internet

banking really caught on. What attracts customers to internet banking is

the round the clock availability and ease of transactions. Studies estimate

that internet banking still has a long way to go. There are several banks

that have customers who prefer banking in the traditional ways. Statistics

released by the FDIC show that only 40% of the banks in the U.S. offer


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internet banking facilities worth mentioning. All the others may have an

online presence but do not have enough online transactions to justify their

presence on the internet.

Some customers have been known to turn to internet banking due to

dissatisfaction with standard procedures and practices. The total absence

of human interaction appeals to some people. Some customers turn to

internet

banking facilities for security reasons. This is mainly because of

customers being assured of banks' ability to keep transactions safe and

secured.

Most online transactions are made using the Internet Explorer interface.

The Internet Explorer has been around for more than ten years now

Features of internet Banking

Online banking solutions have many features and capabilities in common,

but traditionally also have some that are application specific.

The common features fall broadly into several categories

Transactional (e.g., performing a financial transaction such as an

account to account transfer, paying a bill, wire transfer... and

applications... apply for a loan, new account, etc.)

o Electronic bill presentment and payment - EBPP

o Funds transfer between a customer's own checking and

savings accounts, or to another customer's account

o Investment purchase or sale


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http://en.wikipedia.org/wiki/Investment

http://en.wikipedia.org/wiki/Savings_account

http://en.wikipedia.org/wiki/Checking_account

http://en.wikipedia.org/wiki/Giro

http://en.wikipedia.org/wiki/EBPP

o Loan applications and transactions, such as repayments s

Non-transactional (e.g., online statements, check links,

cobrowsing, chat)

o Bank statements

Financial Institution Administration - features allowing the

financial institution to manage the online experience of their end

users

ASP/Hosting Administration - features allowing the hosting

company to administer the solution across financial institutions


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http://en.wikipedia.org/wiki/Bank_statement

http://en.wikipedia.org/wiki/Loan

Online Banking Products of Axis Bank

1.Online Tax Payment: CBDT

e-Payment Facility for Online Payment of Income/ Other Direct Taxes

(CBDT)

Axis Bank offers the e-Payment Facility for online payment of Income/

Other Direct Taxes on the Internet by its Retail/ Corporate customers. The

Assessees/ Taxpayers maintaining Accounts with the Bank can now have

the convenience of paying their Income/ Other Direct Taxes from the

Desktop.

For Retail Customers


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The Retail Customers of the Bank can pay their Income/ Other Direct

Taxes through TIN-NSDL website using iConnect (Net Banking) facility

provided by the Bank. The customer will get online acknowledgement of

the tax payment by way of a Cyber Receipt in form of Challan including

Challan Identification Number (CIN) immediately after making the

payment.

For Retail Customers

The Retail Customers of the Bank can pay their Income/ Other Direct

Taxes through TIN-NSDL website using iConnect (Net Banking) facility

provided by the Bank. The customer will get online acknowledgement of

the tax payment by way of a Cyber Receipt in form of Challan including

Challan Identification Number (CIN) immediately after making the

payment.

2.Online Shopping: Safe and Secure Internet

Payment

Axis Bank offers you the convenience of shopping at many major Online

stores from the comfort of your home or office. All you need is an

internet enabled PC. You can choose & then get the items delivered at

your doorstep. You can also avail of numerous online services, get to

know about the current special offers/discounts and get a preview of the

new items added on to the shelves by these online retailers/service


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providers. You can shop as much as you like and conveniently make

instant payments by debiting your account through the secured payment

channel, iConnect - Our internet banking platform.

To avail of the Online Shopping facility, you have to be a registered

iConnect customer of Axis Bank.

3.e-Broking

Gone are the days when you left orders with your broker, received

conformations on the price and quantity of the shares at the end of the day

and the payment made upfront or received after delays. Your securities

settlement took days to reflect in your account. Internet has changed the

way you do trading. The entire process is speedy with limited to zero

paper work. The process of Payment Gateway has become seamless. All

that you need is a PC, a modem, subscription to an Internet Service

Provider (ISP), a saving and a depository account with Axis Bank. You

have a wide choice of Payment Gateway brokers to choose from. Log on

to the brokers site of your choice where you get live real time quotes,

place a buy or sell order on the spot, and direct the site to debit the

requisite amount. In just a few seconds you get your conformation and

after the trade settlement your bank and Depository accounts will reflect

the changes which you can view anywhere anytime. Axis Bank offers you

the best in technology and service bringing payment and settlements

online - just a few clicks away.


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4.Internet Payment

You can register for Axis Bank Secure Internet Payment in 3 simple steps

> Accept the Terms and Conditions for using the service.

> Enter details of your Debit/Travel Currency Card, for confirming your

identity.

> Fill in your personal details and create a login and password.


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iConnect – Internet banking facility of Axis Bank

Introduction:

Internet banking has been gaining ground in our country with more and

more people accessing the internet facility. Internet provides unlimited

access to information, products and services. The internet also enables

people to undertake several banking transactions online right on the

desktop. For banks it provides a powerful medium to widen the reach at

lower cost.

About iConnect:

Axis Bank provides internet banking facility under the brand name

iConnect. The customers desirous of availing the iConnect facility can

visit website www.axisbank.com for details. They can also directly get

connected using URL https://www.axisbank.co.

To use the iConnect services, the customers should have a PC with

minimum 32 MB RAM Internet Explorer 4.0 or above or Netscape

Navigator, 56.6 KBPS Modem and Internet connection.

Eligibility

IConnect facility is available to accounts of

Individuals (‘p’ segment) customers – single or joint accounts

Partnership firms


33

https://www.axisbank.co/


Corporate clients

The facility is not available to the accounts of Clubs, Associations,

Institutions and Trusts. Any specific request from such customers

should be referred Central office for approval on case-to-case basis

iConnect Facilities Provided by Axis Bank

General Facilities:

Deposit and Cash Credit Accounts

IConnect offers following general services or facilities to the

customers for their savings accounts, current accounts, Term Deposit

Accounts, Cash Credit Accounts and Depository Accounts.

i)Account Enquiry

Interest Rates

Clear/Unclear balance

Drawing Power

Sanctioned Limit

ii)Transaction Enquiry

Transaction particulars

Amount

Date

i) Deposit Enquiry

Date of Deposit


34

Interest rate

Due date

Maturity date

iv) Mail Facility

Mail base to receive, send and store messages to and from the

bank.

v) Request for cheque book issue.

Note: No charges are levied for the facilities offered for general services.

Menus/ options

Deposit and Cash Credit Accounts:

The Menus/Options available for Savings, Current, Term Deposit and

Cash credit accounts for general services are as follows.

1. Quick view: Synopsis of last six transactions.

2. Query: To view the transactions of accounts, based on the

parameter to be selected by the customer.

3. Details: To view personal account information.

4. Request for cheque book (The request received in the Bank’s mail

box from the customer will b sent by the internet banking cell,

central office to the respective branches for necessary action).


35

Depository Accounts

The menus/ options available to customers for depository accounts are

as follows

1. Statement of Holding

2. Transaction Statement

3. Status of Instruction Display

4. Facility to download all the query outputs

Other Options

The other options available are as follows:

1. Update: e-mail address, favourites, password(for

sign-on/transaction)

2. Mail: Mailbox – view/ delete/ archive the mail received, compose –

Facility to send a message to the branch, View Trash – view/

empty/ retrieve a message, View Message – view message

received, mail – sent items.

3. Hyperlink: At the end of browising on iconnect, a customer can

visit our website by clicking on www.axisbank.com

Funds Transfer Facility (FTF)

All the customers registered under iConnect are eligible to avail the

facility of fund transfer. The existing customers who have registered


36


under the old form and not availed the facility can avail it by making a

specific request in the FTF through the concerned branch.

FTF provides for:

1. Transfer of funds between one’s own savings bank or current

accounts (Domestic accounts), both at the same branch or at

different branches.

2. Transfer of funds between one’s own savings bank or current

accounts (Domestic accounts)account and Third party savings bank

or current accounts (Domestic accounts), at the same branch or at

different branches.

3. Transfer of funds as follows in respect of NRE Savings Bank

Accounts

Debit From Credit To

Savings Bank (NRE) Savings Bank (NRE)

Savings Bank (NRE) Savings Bank (NRO/NRSR/Domestic)

(NRE Account holders are permitted to debit their accounts for local

disbursements as permitted under the prevailing Exchange Control

Regulations.

Transfer of funds from SB NRO/NRSR/Domestic accounts to SB NRE is not

permitted).

Transaction at centers

other than where the

account is maintained

Savings

Bank

Current

Account

Ordinary

Current

Account

Business

Classic

Current

Account

Business

Premium


37

Maximum Limit (Per

day)at RBI Center*

No

Maximum

Limit

No

Maximum

Limit

No

Maximum

Limit

No

Maximum

Limit

Maximum Limit (Per

day) at non –RBI

Centers**

Out of this

i) Free remittance per

Day

ii) Remittance

Subject to charges @

applicable DD

Charges

10,00,000

50,000

Above

50,000

10,00,000

50,000

Above

50,000

10,00,000

No

Charges

Not

Applicable

10,00,000

No

Charges

Not

Applicable

* RBI Center to RBI Center

** Non- RBI Centre where one or both the centers are Non – RBI Centres

(RBI Centres: Ahmedabad, Banglore, Bhopal, Bhubaneshwar, Calcutta,

Chandigarh, Chennai, Hyderabad, Jaipur, Mumbai, New Delhi, Nagpur )

Procedure for Registration

1. All customers desirous of availing iConnect facility would have to

fill up the registration from and submit it to any of our branches.

These can also be downloaded from the website

www.axisbank.com .


38


2. For Registration the customer will fill in the registration form duly

undertaking to abide by the terms and condition set out under the

scheme including any future changes made solely at the bank’s

discretion and hand it over any of the branches.

3. In case of joint accounts of individuals and partnership firms a

declaration on the lines of specimen given in the appendix: XI – I

should be obtained. In case of corporate, a Board Resolution

should be obtained and it should be ascertained that the resolution

is not contrary to the Memorandum & Articles of Association of

the company.

4. Where the customer requests for linking of his/her accounts

maintained at other branches also, the branch which receives the

forms will arrange to send the copies to the respective branches.

These branches after verifying the the details of account

maintained at their end, will send the request through Lotus Notes

to the internet banking cell at Central Office.

5. In case of existing customer desiring to avail FTF, FTF Form

should be obtained. It may be noted that all accounts linked to the

customer number current, as well as future will get automatically

linked, when FTF is activated. FTF is not allowed to

Trust/Associations/Clubs. The branch should ensure before

forwarding FTF request and subsequently also that the customer

should not inadvertently become authorized for FTF Facility in

another account in which he/she is not authorized.

6. It is the responsibility of the branch to ensure that all relevant

forms have been taken correctly, filled in and signatures verified

before sending the information to internet banking cell at central

office for allotment of PIN and ID.


39

7. The information for registration should be sent on daily basis by

the Branch Head by Lotus Notes at the ID of Internet Banking

Relationship Manager (IBRM) at Central Office.

8. On receipt of the information, the IBRM at the central office will

create iconnect ID’s and generate PIN’s. these shall be sent to the

respective branches.

9. Branches will deliver the envelope containing the User ID and

PINs to the customers against acknowledgement. The undelivered

envelopes should be kept in the safe custody of an authorized

official.

10. The customers should be advised to keep the user ID and PIN

strictly confidential. System provides for the customer to change

the password immediately on accessing the account for the first

time.

Electronic Bill Presentment and Payment (EBPP) Facility

Electronic Bill Presentment and Payment (EBPP) Facility is an extension

of iConnect and Fund Transfer Facility(FTF), Using this customers can

pay their utility bills to Bombay Suburban Electric Supply co. (BSES),

Life Insurance Corporation (LIC), BPL Mobile, Command (mobile

phone service company) etc. with which the bank has tied up through

iConnect.

The existing i-connect clients with FTF facility can start using this

immediately. Existing iConnect clients without FTF facility will have to

apply for FTF on the required format to avail of this service.


40

New clients will have to fill up registration-cum-declaration form and

branches will forward the required information as usual on Lotus Notes to

IBRM who will arrange for issue of PINs etc.

As per present system, on receipt of request from customers through

branches, for activating one or more specified “ shopping Mall” facilities,

are activated through UBPS – Admin-Sign-on menu.


41

Analysis

Age

Frequency Percent Valid Percent

Cumulative Percent

Valid L.T 20 years 4 4.0 4.0 4.0 20-30 years 52 52.0 52.0 56.0 30-40 years 20 20.0 20.0 76.0 40-50years 22 22.0 22.0 98.0 50 and above 2 2.0 2.0 100.0 Total 100 100.0 100.0


42

Among 100 Respondents 4% Respondents were below the age of 20, 52% Respondents are between 20 – 30years, 20% Respondents are between 30 – 40, 22% Respondents are between the age of 40 – 50, and 2% Respondents are of the age above 50.

Educational qualification


Cumulative Percent

Valid Upto SSLC 2 2.0 2.0 2.0 PUC 12 12.0 12.0 14.0 Degree 52 52.0 52.0 66.0 Master Degree &

Above34 34.0 34.0 100.0

Total 100 100.0 100.0


43

Among 100 customers 2% of the respondents were up to SSLC, 12% PUC, 52% of the respondents were Degree passed and 34% of the customer’s education qualification is Master Degree and above.

Occupation


Cumulative Percent

Valid Student 10 10.0 10.0 10.0 Business 36 36.0 36.0 46.0 Salaried 26 26.0 26.0 72.0 Self Employed

Professional26 26.0 26.0 98.0

Retired 2 2.0 2.0 100.0 Total 100 100.0 100.0


44

Among 100 respondents 10% of the respondents are students, 36% of the respondents are salaried,26% of the respondents are self employed professionals,26% of the respondents are businessman, and only 2% of the respondents are retried

Monthly Income


Cumulative Percent

Valid Below 10,000 4 4.0 4.0 4.010,000-20,000 28 28.0 28.0 32.020,000- 30,000 22 22.0 22.0 54.030,000- 40,000 22 22.0 22.0 76.0

40,000 and above 24 24.0 24.0 100.0Total 100 100.0 100.0


45

Among 100 Respondents the gross monthly income of 4% of the respondents was below 10,000, 28% of the respondents between 10,000 – 20,0000, 22% of the respondents between 20,000 – 30,000, 22% of the respondents between 30,000 – 40,000, and 24% of the respondents had their gross monthly income 40,000 and above

Are you having more than one internet banking account, if so which banks?


Cumulative Percent

Valid axis 62 62.0 62.0 62.0axis idbi 2 2.0 2.0 64.0axis, hdfc 2 2.0 2.0 66.0axis, icici 2 2.0 2.0 68.0axis,hdfc 4 4.0 4.0 72.0

Axis,hdfc,idbi 2 2.0 2.0 74.0axis,hsbc 2 2.0 2.0 76.0axis,icici 6 6.0 6.0 82.0

axis,icici,sbi 2 2.0 2.0 84.0axis,idbi 2 2.0 2.0 86.0axis,sbi 8 8.0 8.0 94.0Axis,sbi 2 2.0 2.0 96.0

Icici,hdfc,axis 2 2.0 2.0 98.0


46

sbi,axis 2 2.0 2.0 100.0Total 100 100.0 100.0

If you are having more than one internet banking account, which banks account do you use more frequently?


Cumulative Percent

Valid SBI & allies 8 8.0 21.1 21.1 Axis Bank 8 8.0 21.1 42.1 ICICI 10 10.0 26.3 68.4 HDFC 8 8.0 21.1 89.5 IDBI 4 4.0 10.5 100.0 Total 38 38.0 100.0 Missing System 62 62.0

Total 100 100.0


47

Among the respondents having more than one internet banking account. 8% of the respondents frequently use SBI & allies,8% of the respondents prefer Axis,10% of the respondents prefer ICICI, 8% of the respondents prefer HDFC, and 4% of the respondents prefer IDBI

Reason for using this internet banking account more frequently

Ease of use (Y/N)


Cumulative Percent

Valid Yes 16 16.0 16.0 16.0 No 84 84.0 84.0 100.0 Total 100 100.0 100.0


48

Among the respondents who have more than one internet banking account and who use particular bank account more frequently, 16% of the customers say its because of the ease of using that internet banking service.

Faster transaction (Y/N)


Cumulative Percent

Valid Yes 16 16.0 16.0 16.0No 84 84.0 84.0 100.0

Total 100 100.0 100.0


49

Among the respondents who have more than one internet banking account and who use particular bank account more frequently, 16% of the customers say its because of the Faster transaction of that banks internet banking service.

Secured transaction (Y/N)


CumulativePercent

Valid Yes 4 4.0 4.0 4.0No 96 96.0 96.0 100.0

Total 100 100.0 100.0


50

Among the respondents who have more than one internet banking account and who use particular bank account more frequently, 4% of the customers say its because of the security of the transaction of that banks internet banking service.

Reliable transaction (Y/N)


Cumulative Percent

Valid Yes 20 20.0 20.0 20.0No 80 80.0 80.0 100.0

Total 100 100.0 100.0


51

Among the respondents who have more than one internet banking account and who use particular bank account more frequently, 20% of the customers say its because of the reliable transaction that banks internet banking service offers.

Any other reason


Cumulative Percent

Valid 100 100.0 100.0 100.0


52

No respondents gave any other reason for using the particular banks internet banking service more frequently.

Since how long you have been using internet banking?


Cumulative Percent

Valid less than 1 month

6 6.0 6.0 6.0

1-6 months 34 34.0 34.0 40.0more than 6 LT

1 year24 24.0 24.0 64.0

more than 1 yr LT 2 years

20 20.0 20.0 84.0


53

more than 2 years

16 16.0 16.0 100.0

Total 100 100.0 100.0

Among 100 respondents, 6% of the respondents less than one month, 34% of the respondents between 1- 6 month, 24% of the respondents between more than 6months – less than 1year, 20% of the respondents between more than 1year and less than 2 years and 16% of the respondents use internet banking service from more than 2 years.

How often you transact using internet banking?


Cumulative Percent

Valid almost daily 8 8.0 8.0 8.0 few times a week 28 28.0 28.0 36.0 once in 15 days 38 38.0 38.0 74.0 once in a month 16 16.0 16.0 90.0 rarely (not specific) 10 10.0 10.0 100.0 Total 100 100.0 100.0


54

Among 100 respondents, 8% of the respondents transact almost daily, 28% of the respondents transact few times in a week, 38% of the respondents transact ones in 15 days, 16% of the respondents transact ones in a month and 10% of the respondents transact very rarely using internet banking.

What made you to go for online Banking?

Every where access (Y/N)


Cumulative Percent

Valid Yes 24 24.0 24.0 24.0No 76 76.0 76.0 100.0

Total 100 100.0 100.0


55

Among 100 respondents 24% of the respondents said yes they went for Online Banking because of every where access and 76% of the respondents said no.

Any time access (Y/N)

Frequency Percent Valid Percent Cumulative Percent



56

Among 100 respondents 38% of the respondents said Yes they went for Online Banking because of any time access and 62% of the respondents said No.

Faster transaction(Y/N)


Cumulative Percent



57

Among 100 respondents 36% of the respondents said Yes they went for Online Banking because of Faster Transaction and 64% of the respondents said No.

No human interaction(Y/N)


Cumulative Percent

Valid Yes 28 28.0 28.0 28.0No 72 72.0 72.0 100.0

Total 100 100.0 100.0


58

Among 100 respondents 28% of the respondents said Yes they went for Online Banking because of no bank personnel interaction and 72% of the respondents said No.


59

Which of the following you have done using internet Banking

Balance enquiry & statements (YorN)


Cumulative Percent

Valid Yes 54 54.0 54.0 54.0No 46 46.0 46.0 100.0

Total 100 100.0 100.0

Among 100 respondents 54% of the respondents said Yes they went for Online Banking for Balance enquiry & statements and 46% of the respondents said No.

Rail/Air ticket booking ( Yor N)


60


Cumulative Percent


Among 100 respondents 34% of the respondents said that they have done Rail/Air ticket booking through Online Banking and 66% of the respondents said No.

Mobile recharge (Y or N)


Cumulative Percent


61


Among 100 respondents 16% of the respondents said that they have done Mobile recharge online and 84% of the respondents said No.

Transfer funds (Y or N)


Cumulative Percent

Valid Yes 56 56.0 56.0 56.0No 44 44.0 44.0 100.0

Total 100 100.0 100.0


62

Among 100 respondents 56% of the respondents said that they have transferred funds between accounts through Online Banking and 44% of the respondents said No.

Payments (Y or N)


Cumulative Percent



63

Among 100 respondents 44% of the respondents said that they have done Payments through Online Banking and 56% of the respondents said No.

Any other activity done


Cumulative Percent

Valid 92 92.0 92.0 92.0e-broking 2 2.0 2.0 94.0fd deposit 2 2.0 2.0 96.0

net account payment

2 2.0 2.0 98.0

online purchase

2 2.0 2.0 100.0

Total 100 100.0 100.0


64

Any other activity done by the respondents through internet banking are 2% of the respondents online puchase,2% of the customers net account payments.2% of the respondents FD Deposits and 2% of the respondents e-broking.

Customer Satisfaction on Ease of using iConnect


Cumulative Percent

Valid Highly satisfied 28 28.0 28.0 28.0 satisfied 64 64.0 64.0 92.0 neutral Neither

satisfied nor dissatisfied

6 6.0 6.0 98.0

dissatisfied 2 2.0 2.0 100.0 Total 100 100.0 100.0


65

Among 100 respondents, 28% of the respondents are highly satisfied, 64% of the respondents just satisfied, 6% of the respondents neither satisfied nor dissatisfied and 2% of the respondents are dissatisfied and no one is highly dissatisfied by the Ease of using iConnect.

Customer Satisfaction on all the time accessibility


Cumulative Percent

Valid highly satisfied 28 28.0 28.0 28.0satisfied 40 40.0 40.0 68.0

neutral Neither satisfied nor dissatisfied

30 30.0 30.0 98.0

Highly dissatisfied

2 2.0 2.0 100.0

Total 100 100.0 100.0


66

Among 100 respondents, 28% of the respondents are highly satisfied, 40% of the respondents just satisfied, 30% of the respondents neither satisfied nor dissatisfied, no one is dissatisfied but 2% of the respondents are highly dissatisfied by all time accessibility of iConnect.

Customer Satisfaction on speed of transaction


Cumulative Percent



24 24.0 24.0 94.0

dissatisfied 4 4.0 4.0 98.0 Highly dis satisfied 2 2.0 2.0 100.0 Total 100 100.0 100.0


67

Among 100 respondents, 14% of the respondents are highly satisfied, 56% of the respondents just satisfied, 24% of the respondents neither satisfied nor dissatisfied, 4% of the respondents are dissatisfied and 2%of the respondents are highly dissatisfied by the Speed of the transaction.

Customer Satisfaction on charges for services


Cumulative Percent

Valid Highly satisfied 6 6.0 6.0 6.0satisfied 58 58.0 58.0 64.0


28 28.0 28.0 92.0

dissatisfied 4 4.0 4.0 96.0Highly dissatisfied 4 4.0 4.0 100.0

Total 100 100.0 100.0


68

Among 100 respondents, 6% of the respondents are highly satisfied, 58% of the respondents just satisfied, 28% of the respondents neither satisfied nor dissatisfied, 4% of the respondents are dissatisfied and 4%of the respondents are highly dissatisfied by the charges for iConnect services.

Customer satisfaction on security measures taken by axis bank


Cumulative Percent

Valid Highly satisfied 15 15.0 15.0 15.0satisfied 49 49.0 49.0 64.0


22 22.0 22.0 86.0

dissatisfied 8 8.0 8.0 94.0Highly dissatisfied 6 6.0 6.0 100.0

Total 100 100.0 100.0


69

Among 100 respondents, 15% of the respondents are highly satisfied, 49% of the respondents just satisfied, 22% of the respondents neither satisfied nor dissatisfied, 8% of the respondents are dissatisfied and 6% of the respondent is highly dissatisfied by the Security measures taken by Axis Bank.

Customer Satisfaction on overall – iConnect services


Cumulative Percent



4 4.0 4.0 96.0

dissatisfied 4 4.0 4.0 100.0 Total 100 100.0 100.0


70

Among 100 respondents, 16% of the respondents are highly satisfied, 76% of the respondents just satisfied, 4% of the respondents neither satisfied nor dissatisfied, 4% of the respondents are dissatisfied and none of the respondents are highly dissatisfied by the Overall iConnect services.


71

Findings

Among the respondents having more than one internet banking

account. 8% of the respondents frequently use SBI & allies,8% of

the respondents prefer Axis,10% of the respondents prefer ICICI,

8% of the respondents prefer HDFC, and 4% of the respondents

prefer IDBI.

Among the respondents who have more than one internet banking

account and who use particular bank account more frequently, 20%

of the customers say its because of the reliable transaction that

banks internet banking service offers.

Ease of using iConnect:

Among 100 respondents, 28% of the respondents are highly

satisfied, 64% of the respondents just satisfied, 6% of the respondents

neither satisfied nor dissatisfied and 2% of the respondents are

dissatisfied and no one is highly dissatisfied by the Ease of using

iConnect.

All time accessibility:



neither satisfied nor dissatisfied, no one is dissatisfied but 2% of the

respondents are highly dissatisfied by all time accessibility of iConnect.


72

Charges for iConnect Services



neither satisfied nor dissatisfied, 4% of the respondents are dissatisfied

and 4%of the respondents are highly dissatisfied by the charges for

iConnect services.

Speed of the transaction.




and 2%of the respondents are highly dissatisfied by the Speed of the

transaction.

Security measures taken by axis bank




and 6% of the respondent is highly dissatisfied by the Security measures

taken by Axis Bank.


73

Few of the customers have faced some problem in operating

iConnect, according to them axis IPIN password expires very

often.

Few of the customers have faced problem because of the slow

processing of the transaction.

According to some respondents, the company does not attend to the

queries quickly.

Some of the respondents were relatively less satisfied with banks

pricing. Many complained about the high fees charged and

expensive account maintenance costs.

Customer Satisfaction on overall – iConnect services




and none of the respondents are highly dissatisfied by the Overall

iConnect services.


74

Suggestions

As few of the customers have faced problem due to the frequent

expiry of password, the company should make changes and

should see that the password does not expires often.

The survey revealed that few of the customers are facing problem

due to the not in time delivery of IPIN. So, company should also

improve on fast delivery of IPIN.

According to some respondents, the company does not maintain

good contact with account holders. So the company should

improve the contact with account holders.

Some of the customers are not satisfied by the speed of the

transaction i.e. 24% of the respondents are neither satisfied nor

dissatisfied, and 4% & 2% of the respondents are dissatisfied and

highly dissatisfied by the speed of the transaction. So the

company should improve on the speed of the transaction.

The research also revealed that company does not attend to the

customer queries quickly hence the customers are not satisfied.

So the company should see to that the customers queries are

answered quickly.


satisfied, 49% of the respondents just satisfied, 22% of the

respondents neither satisfied nor dissatisfied, 8% of the

respondents are dissatisfied and 6% of the respondent is highly

dissatisfied by the Security measures taken by Axis Bank. Hence

the company should take some measures to completely secure the

transactions of the customers.


75

Conclusion

Online banking has been around for quite a few years. In fact, it was

introduced in the 1980s and has come a long way since then. The last

decade has seen a profuse growth in internet banking transactions.

Several pieces of legislation have also been introduced in this area.

Some customers have been known to turn to internet banking due to

dissatisfaction with standard procedures and practices. The total absence

of human interaction appeals to some people. Some customers turn to

internet banking facilities for security reasons. This is mainly because of

customers being assured of banks' ability to keep transactions safe and

secured.

In the prevailing highly competitive environment the cutting edge will

ofcourse be Customer Service, it should be the endeavors of each bank

employee to not only provide good customer service but also to move

towards “ Customer Delights” by offering services of highest order, by

providing some thing extra which is generally intangible and value added

to a customer.

The research reveals that 16% of the customers are highly satisfied and

76% of the customers are satisfied by the overall iConnect services


76

Questionnaire

I Archana G. Wali, Student of KLES’s IMSR conducting research work to know Customers Satisfaction level of the online services of Axis Bank. Kindly co-operate to let me know your frank opinion for improvement in services at Axis bank, your opinion will be valuable for my project work.

1. Name : ___________________________________

2. Age : a) Less than 20 yrs b)20 – 30 yrs c)30 – 40yrs

d) 40 – 50 yrs e) 50 above

3. Education : a) Up to SSLC b) PUC c) Degree d) Master Degree & above

4. Occupation : a) Student b)Business c) Salaried d) Self Employed Professional e)Retired f) Others

5 Gross Monthly Income: (Rs) a) Below 10,000 b) 10,000 – 20,000 c) 20,000 – 30,0000 d) 30,000 – 40,000 e) 40,000 & above

6. Are you having more than one internet banking account, if so which banks?

a)_________________ b)________________ c)__________________

Answer question 7 & 8 if you are having more than one internet banking account, else go to question 9

7. If you are having more than one internet banking account, which banks account, do you use more frequently _____________________

8.Reason for using this internet banking account more frequently

a) Ease of use b) Faster transaction c)Security of transactions

d)Reliable Transaction e) Any other___________

9. Since how long you have been using internet banking ?a) Less than one month b) 1- 6 monthsc) More than 6 months – 1 yr d) More than 1year – 2 yeare)More than 2 yrs


77

10. How often you transact using internet banking? a) Almost daily b) Few times in a weekc)Once in 15 days d) Once in a Month e)Rarely (Not Specific)

11. What made you to go for online banking? a) Every were access b)Any Time access c) Faster transaction d) No bank personnel interaction.

12. Which of the following transactions you have done using internet banking?a) Balance enquiry & statements b)Rail ticket bookingc)Mobile Recharge d) transfer funds between accounts.e) Payments e) Any other , Please Specify ___________

13. Have you faced any problem while using internet banking?

For question 14 – 19 indicate your level of satisfaction by choosing 1,2,3,4,5 where 1) Highly satisfied 2) Satisfied 3) Neither satisfied nor dissatisfied 4)Dissatisfied 5) Highly Dissatisfied

1 2 3 4 514. Ease of using iConnect _______________ 15. All time accessibility _________________

16. Speed of the transaction _______________ 17. Security Measures taken by Axis bank _______

18. Charges for services offered using iConnect ____

19.Overall Satisfaction about iConnect ___________

20.Any Suggestions ?

_____________________________________________________________________

: THANK YOU:


78

Bibliography

1. Websites

www.axisbank.com

www.economywatch.com

www.cnetnews.com

www.acadjournal.com

2. Company manuals

3. Marketing Research – TULL and HAWKINS


79

http://www.acadjournal.com/

http://www.cnetnews.com/

http://www.economywatch.com/


Documents

Axis Final