Indus Ind

7/31/2019 Indus Ind

1/48

Summer Training Project Report

On

Study of Savings and Current Accounts

(IndusInd Bank)

Submitted by-

Pooja Dixit

Roll No.- 201101071

Techno Institute of Management

Sciences

Techno Institute Of Management Sciences

7/31/2019 Indus Ind

2/48

DECLERATION

I hereby declare that the project report entitledA 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 otherEducational institutions or for any other

purpose WHATSOEVER.


7/31/2019 Indus Ind

3/48

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:


7/31/2019 Indus Ind

4/48

Signature

Table of Contents

1.1 General Introduction

1.2 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 ..

CHAPTER 4 STUDY OF SELECTED RESEARCH PROBLEM

4.1 Statement of Research Problem..

4.2 Statement of Research Objectives ........ .

4.3 Research Design and Methodology

4.4 Analysis of Data . .

4.5 Summary of Findings

CHAPTER 5 SUMMARY AND CONCLUSIONS .

5.1 Summary of Learning Experience..

5.2 Conclusions and Recommendations .

APPENDIX

.

BIBLOGRAPHY

.


7/31/2019 Indus Ind

5/48

Introduction

Introduction


7/31/2019 Indus Ind

6/48

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 (depositsplus 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


7/31/2019 Indus Ind

7/48

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 IndusIndBanks 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 theSociety 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 TataEconomic 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


7/31/2019 Indus Ind

8/48

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 Industrysectors 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.


7/31/2019 Indus Ind

9/48

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., aleading 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, heventured 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).


7/31/2019 Indus Ind

10/48

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 ManagementAssociation 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


7/31/2019 Indus Ind

11/48

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 aCommittee for setting Accounting Norms for trading members of

the National Stock Exchange.


7/31/2019 Indus Ind

12/48

MILLESTONE

Year Business Achievements2007-08

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-1savings 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


7/31/2019 Indus Ind

13/48

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 Today-

KPMG Survey

Presented Outstanding Achiever of the year 2005- Corporate (Runner up-

Banking 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


7/31/2019 Indus Ind

14/48

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. 100th 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.


7/31/2019 Indus Ind

15/48

2000-01

Total business volume crosses Rs 10000 crores

1998-99

IndusInd again rated as one of the Top Performing Banks in various surveyreports, 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.


7/31/2019 Indus Ind

16/48

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 May-

June 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 theirmoney, 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 best-

of-class services in the industry.


7/31/2019 Indus Ind

17/48

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

AccountIndusInd Online Payments

http://www.youtube.com/watch?v=hTfaHewIGIUhttp://www.youtube.com/watch?v=m1p99h5WH4c&feature=relatedhttp://www.youtube.com/watch?v=jmeamjlgNkkhttp://www.youtube.com/user/IndusIndBank#p/u/5/CMr6moXDupkhttp://www.youtube.com/IndusIndBank#p/u/1/Ye7BS2xTPIUhttp://www.youtube.com/IndusIndBank#p/u/0/z3MjzHL3Ni8http://www.youtube.com/IndusIndBank#p/a/u/0/EvxzaX2tCywhttp://www.youtube.com/IndusIndBank#p/a/u/0/EvxzaX2tCywhttp://www.youtube.com/IndusIndBank#p/u/1/JAHH3GesKqshttp://www.youtube.com/IndusIndBank#p/u/1/JAHH3GesKqshttp://www.youtube.com/IndusIndBank#p/a/u/0/EvxzaX2tCywhttp://www.youtube.com/IndusIndBank#p/u/0/z3MjzHL3Ni8http://www.youtube.com/IndusIndBank#p/u/1/Ye7BS2xTPIUhttp://www.youtube.com/user/IndusIndBank#p/u/5/CMr6moXDupkhttp://www.youtube.com/watch?v=hTfaHewIGIUhttp://www.youtube.com/watch?v=m1p99h5WH4c&feature=relatedhttp://www.youtube.com/watch?v=jmeamjlgNkkhttp://www.youtube.com/user/IndusIndBank#p/u/5/CMr6moXDupkhttp://www.youtube.com/IndusIndBank#p/u/1/Ye7BS2xTPIUhttp://www.youtube.com/IndusIndBank#p/u/0/z3MjzHL3Ni8http://www.youtube.com/IndusIndBank#p/a/u/0/EvxzaX2tCywhttp://www.youtube.com/IndusIndBank#p/a/u/0/EvxzaX2tCywhttp://www.youtube.com/IndusIndBank#p/u/1/JAHH3GesKqs

7/31/2019 Indus Ind

18/48

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.

Vision-

IndusInd 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


7/31/2019 Indus Ind

19/48

Products


7/31/2019 Indus Ind

20/48

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 andsend 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.


7/31/2019 Indus Ind

21/48

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 freecards, insurance benefits, global emergency assistance service, discount, utility

payment, travel discount, and much more.

Debit Cards-

The 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).

http://www.indusindbank.com/http://www.indusindbank.com/

7/31/2019 Indus Ind

22/48

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 LIC

BIRLA PRINCIPAL

BOB PRUICICI

CHOLAMANDALAM RELIANCE

CANBANKSTANDARDCHARTERED

DSP SAHARA

DEUTSCHE SBI

FIDELITY SUNDARAM

HSBE TEMPLETON

HDFC TATAING TAURAS

JM UTI

General Insurance:


7/31/2019 Indus Ind

23/48

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


7/31/2019 Indus Ind

24/48

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


7/31/2019 Indus Ind

25/48

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 Proofo Photo identity Proof

o Pan no/Form 60

o 2 Passport size photograph

o D. Types of Saving Account


7/31/2019 Indus Ind

26/48

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


7/31/2019 Indus Ind

27/48

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.


7/31/2019 Indus Ind

28/48

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 tosomebody 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


7/31/2019 Indus Ind

29/48

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


7/31/2019 Indus Ind

30/48

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 whosetransactions 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.


7/31/2019 Indus Ind

31/48

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


7/31/2019 Indus Ind

32/48

Data analysis


7/31/2019 Indus Ind

33/48

Research methodology

4.1Statement 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.


7/31/2019 Indus Ind

34/48

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.


7/31/2019 Indus Ind

35/48

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.


7/31/2019 Indus Ind

36/48

4.4 Data Analysis

Q 1:What is your Monthly Transaction in your account ?

Monthly

transactions

No. of respondents % (percentage)

5-20 lakhs 28 28%

20-40 lakhs 59 59%

40 lakhs and above 13 13%

Total 100 100%

nalysis:

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

Analysis:

59% respondents gave their answer in 20-40 lakhs transactions

28% respondents gave their answer in 0-20 lakhs transactions.

Question 2


0%

10%

20%

30%

40%

50%

60%

70%

05L- 20L 20L - 40L 40L - Above

05L- 20L

20L - 40L

40L - Above

7/31/2019 Indus Ind

37/48

Do you have a Saving Account?

Response No. of respondents %

Yes 97 97%

No 3 3%

97%

3%

Yes No

Analysis: 97% respondents have the saving accounts and only 3%

do not have saving account

Question 3


7/31/2019 Indus Ind

38/48

In Which Bank?

Bank No. of respondents %

Kotak mahindra 3 3%

HDFC 33 33%

Co-operative 48 48%

ICICI 5 5%

Nationalized 31 31%

HDFC, 33

ICICI, 5%

Nationalized, 3 1

Co- Operativ

Bank, 48%

Kotak MahindrBank, 3%

HDFC ICICI Nationalized Co- Operative Bank Kotak Mahindra Ban

Question 4

Which Factors do you consider for opening a Savings Account?

No. of respondents

Accessibility 10

Minimum balance 20


7/31/2019 Indus Ind

39/48

DD/pay order 13

Free cheque 10

Debit card 8

Cash deposit 7

Cheque pick up 2Net banking 16

Mobile banking 7

At per cheque 3

NEFT 2

0

2

4

6

8

10

12

14

16

18

20Accessibility

Minimum

balanceDD/pay order

Free cheque

Debit card

Cash deposit

Cheque pick up

Net banking

Mobile banking

At per cheque

Analysis:


7/31/2019 Indus Ind

40/48

Respondents gave their answer-

10% 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 No. of response %

Pay order 12 12

DD 22 22

Cheque 76 76

Total 100 100

Cheque, 76%

DD, 32%

Pay Order, 12%

Cheque DD Pay Order

Analysis:


7/31/2019 Indus Ind

41/48

12% Response in pay order, 32% like DD, and 76 % costumer want from cheque

mode.

Question 6

Which types of transaction do you make ?



Intercity 33 33

Outside city 15 15

Both 52 52

Total 100 100

7/31/2019 Indus Ind

42/48

Analysis:33% account holder transaction intercity, 52 % Both, and 15% outside

city.

Question 7

Does your bank assist you in case of any problem?


Yes 90 90

No 10 10

Total 100 100


Inter city, 33%

Both, 52%

Outside

City, 15%

7/31/2019 Indus Ind

43/48

90%

10%

Yes No

Analysis:

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


7/31/2019 Indus Ind

44/48

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


7/31/2019 Indus Ind

45/48

Conclusion and

recommendations

Conclusions and Recommendations


7/31/2019 Indus Ind

46/48

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.


7/31/2019 Indus Ind

47/48

Bibliography

BIBILIOGRAPHY


7/31/2019 Indus Ind

48/48

1.BOOKS & AUTHORS

Marketing Management

2. NEWS PAPERS

Times of India

Financial Express

3. WEBSITES

www.hdfcbank.com

www.google.com
http://www.google.com/http://www.google.com/

Documents

Indus Ind