Report on Ing-Vysya

8/3/2019 Report on Ing-Vysya

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A PROJECT REPORT

On

Create Awareness of Banks Product offered

By ING-Vysya Bank in Bangalore

(15 Jan 15th March)

SUBMITTED TO

In partial fulfillment of the requirement for the award of the

Post Graduate Program of

Bhagwan Mahaveer Jain College


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In the last but not the least, my grateful appreciation

is also extended to Prof. David Easow (Head of RBA

Department), Ms. Varsha Solanki (Coordinator RBA

Department), Mr. Nishikant Bele (Faculty EMPI) and

also my thanks to all my faculties members, Parents and

friends.

However, I accept the sole responsibility for any

possible errors of omission and would be extremely

grateful to the readers of this project report if they bring

such mistakes to my notice.

MUKHAR GOELMUKHAR GOEL

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DECLARATION

Ihereby declare that the project entitled Create

Awareness of Banks Product offered by ING-Vysya

Bank in Bareilly submitted in partial fulfillment of the

requirements for the Post Graduate Program in Research

& Business Analytics is my original work and not

submitted for the award of any degree, fellowship,diploma, or any other similar title or prizes.

An attempt has been made by me to provide all

relevant and important details regarding the topic to

support the theoretical edifice with concrete research

evidence. This will be helpful to clean the fog surrounding

the various aspect of the topic.

I hope that this project will be beneficial for the

Organization.

Place: BAREILLY (MUKHAR GOEL)

Date: June Roll No.: 9 Batch: 2008-2010

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TABLE OF CONTENTS

S.NO TOPIC PAGENO.

1 Company Overview 7

2 Origin of ING Group 8

3 Company Profile 9

4 Mission 9

5 New Identity 10

6 Milestones in the journey of 11

ING-VYSYA bank

7 Balance-sheet 13

8 Profit & Loss Account 14

9 Cash Flow 15

10 Board of Directors 16

11 Synopsis 17

12 Facts about ING VYSYA 20

13 Products 22

14 Executive Summary 54

15 Introduction of Banking Industry 56

16 Training session on Selling Skills 66

17 KYC 77

18 Research methodology 8019 Analysis of Data 88

20 Conclusions & 94

Recommendations

21 Questionnaire 98

22 Bibliography 102

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Company Overview

ING Vysya Bank Ltd., is an entity formed with the coming

together of erstwhile, Vysya Bank Ltd, a premier bank in

the Indian Private Sector and a global financial

powerhouse, ING of Dutch origin, during Oct 2002.

The origin of the erstwhile Vysya Bank was pretty humble.

It was in the year 1930 that a team of visionaries came

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together to form a bank that would extend a helping hand

to those who weren't privileged enough to enjoy banking

services.

It's been a long journey since then and the Bank has

grown in size and stature to encompass every area of

present-day banking activity and has carved a distinct

identity of being India's Premier Private Sector Bank.

In 1980, the Bank completed fifty years of service to the

nation and post 1985; the Bank made rapid strides to

reach the coveted position of being the number one

private sector bank. In 1990, the bank completed its

Diamond Jubilee year. At the Diamond JubileeCelebrations, the then Finance Minister Prof. Madhu

Dandavate, had termed the performance of the bank

Stupendous. The 75th anniversary, the Platinum Jubilee

of the bank was celebrated during 2005.

The origin of ING Group

On the other hand, ING group originated in 1990 from the

merger between Nationale Nederlanden NV the largest

Dutch Insurance Company and NMB Post Bank Groep

NV. Combining roots and ambitions, the newly formed

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company called Internationale Nederlanden Group.

Market circles soon abbreviated the name to I-N-G. The

company followed suit by changing the statutory name to

ING Group N.V..

Profile

ING has gained recognition for its integrated approach of

banking, insurance and asset management. Furthermore,

the company differentiates itself from other financial

service providers by successfully establishing life

insurance companies in countries with emerging

economies, such as Korea, Taiwan, Hungary, Poland,

Mexico and Chile. Another specialization is ING Direct, anInternet and direct marketing concept with which ING is

rapidly winning retail market share in mature markets.

Finally, ING distinguishes itself internationally as a

provider of employee benefits, i.e. arrangements of non

wage benefits, such as pension plans for companies and

their employees.

Mission

ING`s mission is to be a leading, global, client-focused,

innovative and low-cost provider of financial services

through the distribution channels of the clients preference

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in markets where ING can create value.

The new identity

The immediate benefit to the bank, ING Vysya Bank, has

been the pride of having become a Member of the global

financial giant ING. As at the end of the year December

2008, ING's total assets exceeded 13.31 billion euros,

employed over 125000 people, served over 85 million

customers, across 50 countries. This global identity

coupled with the back up of a financial power house and

the status of being the first Indian International Bank,

would also help to enhance productivity, profitability, to

result in improved performance of the bank, for the benefitof all the stake holders.

Milestones in the long journey of -VYSYAING

Bank

1930 Set up in Bangalore

1948 Scheduled bank

1985 Largest private sector bank

1987 The Vysya Bank Leasing

Ltd .Commenced

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1988 Pioneered the concept of

Co branding of credit Cards

1990 Promoted Vysya Bank

Housing Finance Ltd.

1992 Deposits cross Rs.1000

crores

1993 Number of branches

crossed 300

1996 Signs Strategic Alliance with

BBL.,Belgium. Two National

Awards by Gem & Jewellery

export Promotion council for

excellent performance in

export promotion.

1998 Cash Management Services

& commissioning of VSAT.

Golden Peacock Award-for

the best HR Practices by

Institute of Directors. Rated

as Best Domestic Bank in

India by Global

Finance(International

Financial Journal-June

1998)

2000 State-of-the-art Date Centre

at ITPL, Bangalore.

RBI clears setting up of ING

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Vysya Life Insurance

Company

2001 ING-Vysya commenced life

insurance business.

2002 The Bank launched a range

of products & services like

the Vys Vyapar Plus, the

range of loan schemes for

traders, ATM services,

Smartserv, personal

assistant service, Save &

Secure, an account that

provides accident

hospitalization and

insurance cover,

Sambandh, the International

Debit Card and the mi-bank

net banking service.

2002 ING takes over the

Management of the Bank

from October 7th , 2002

2002 RBI clears the new name of

the Bank as ING Vysya

Bank Ltd, vide their letter of

17.12.02

2003 Introduced customer friendly

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products like Orange

Savings, Orange Current

and Protected Home Loans

2004 Introduced Protected Home

Loans - a housing loan

product

2005 Introduced Solo - My Own

Account for youth and

Customer Service Line

Phone Banking Service

2006 Introduced Solo - My Own

Account for youth and

Customer Service Line

Phone Banking Service

Balance sheet of ING- Bank Ltd. for theVYSYA

year ended 31 March 2008

(Rs.i

n crores)

Mar08 Mar07 Mar06

Sources of funds

Owners fund

Equity share capital 102.47 90.90 90.72

Reserves and surplus 1323.67 901.60 817.41

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Loan Funds

Secured loans Nil Nil Nil

Unsecured loans 20,498.20 16,411.09 14,243.39

Total 21,924.20 16,411.09 14,243.39

Uses of Funds

Fixed assets

Gross Block 706.82 681.06 676.23

(-)Revaluation 109.52 110.78 111.54

reserve

(-)Accumulated 429.31 394.33 383.02

depreciation

Net Block 167.99 175.95 181.67

Capital WIP 121.70 109.24 112.20

Investments 6293.32 4527.81 4372.34

Net current assetsCurrent assets,loans 1013.06 794.65 634.06

& advances

(-) current liabilities & 2256.39 1920.87 1304.29

provisions

Total net current -1243.32 -1126.22 -670.23

assets

Total 5339.69 3686.78 3995.97

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Profit & loss account of ING-VYSYA Bank Ltd.

(Rs in

crores)

Mar08 Mar07 Mar06

Income

Operating Income 1983.64 1537.22 1321.24

Expenses

Personnel 302.39 238.48 234.19expenses

Selling Expenses 4.28 3.49 5.36

Administrative 299.90 296.56 295.43

expenses

Cost of sales 606.56 538.53 534.98

Operating profit 195.03 139.38 45.01

Other recurring 121.62 56.87 31.56Income

Adjusted PBDIT 316.66 196.26 76.57

Financial 1182.05 859.31 741.25

expenses

Depreciation 38.93 37.98 37.20

Other write offs Nil Nil Nil

Adjusted PBT 277.72 158.27 39.37Tax charges 94.53 38.72 12.46

Adjusted PAT 151.57 83.92 6.01

Non-recurring 3.38 4.99 3.05

items

Reported net 154.95 88.91 9.06

profit

Earnings before 173.39 90.20 -25.55

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appropriation

Equity dividend 15.37 5.91 Nil

Preference Nil Nil Nil

dividendDividend Tax 2.61 1.00 Nil

Retained 155.41 83.29 -25.55

earnings

Cash flow

(Rs in crores)

Mar08 Mar07 Mar06Profit before tax 251.46 127.63 21.52

Net cash flow- 1426.23 308.12 -202.67

operating activity

Net cash used in -35.55 -17.62 -74.90

investing activity

Net cash used in 202.38 177.87 286.41

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financial activity

Net 1593.06 468.37 8.84

increase/decrease

in cash and

equivalent

Cash and 1591.70 1123.33 1114.50

equivalent at the

beginning of the

year

Cash and 3184.76 1591.70 1123.33

equivalent at the

end of the year

Board of Directors

S.no. Name of the person Designation

1 Aditya Krishna Director

2 Arun Thiagarajan Director

3 K R Ramamoorthy Director

4 K R V Subrahmanian Director

5 M Damodaran Non-Executive

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and Non

Independent

Director

6 Philipee Damas Additional Director

7 Ramakrishnan Subramanian Director

8 Richard Cox Additional Director

9 Ryan Andrew Padgett Director

10 Santosh Ramesh Desai Additional director

11 Vaughn Nigel Richtor Managing Director

and Chief

Executive Officer

12 Wilfred Nagel Additional Director

Synopsis

Title Awareness of ING-VYSYA in Bareilly

Objective To do the market analysis of the Bareilly city

and to make aware the people of Bareilly about ING Bank

Null Hypothesis (H0) . ING Bank is not better than other

banks present in Bareilly.

Alternate Hypothesis (H1) . ING Bank is better than other

banks present in Bareilly.

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Data Collection

1- Questionnaire filled by-

a) Existing customers of ING in Bareilly

b) New customers who are not associated with ING in

Bareilly.

Research Design

Problem identification

Data collection related to awareness of ING in

Bareilly.

Sampling Technique

Convenience sampling

It is purposive or non-probability sampling.

This sampling method involves deliberate or

purposive selection of particular units of the universe

for consulting a sample, which represents the

universe and when elements are selected for

inclusion in the sample based on the ease of access,

it is called convenience sampling.

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Research technique

Conclusive research

This type of research helps in reaching certain

conclusions and also in taking decisions.

Some facts about ING-Vysya bank

ING-Vysya bank branches works on profit centre

Around 500 branches in India and 13 in Uttar-

Pradesh.

Bank

Assets Liabilities

A thing for whichone is responsible

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A thing owned by

a someonehaving some

value

CASA TD/FD Others

Current Term Lockers

account deposits

Fee Income

productsSavings Fixed

account Depoits

Fee Income Products

Life Insurance General Mutual Funds Portfolio

Insurance management

service

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Demataccount

Products

Orange Savings Bank Account

Key Features:

Quarterly Average Balance (QAB) of Rs. 5000/-

Free issue of the International Debit Card.

Shopping convenience at over 2 Lakh merchant

locations, with the ING Vysya International Debit

card.

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Free Unlimited ATM transactions at over 25,000

(Cirrus/Cash net) ATM's in India, where QAB is

maintained.

Free Unlimited ATM transactions at over 196 ING

Vysya ATM's.

Free 2 Demand Drafts with a value not exceeding

Rs. 50,000 per annum, where the QAB is maintained.

Free Unlimited usage of payable at par (PAP)

Cheques.

Free Transfer of funds across all branches.

Free National Electronic Funds Transfer (NEFT)

through the internet banking channel.

Free Electronic Bill Payment service

Free Smartserv - Personal Assistance Service

Free Statement of Account through E-mail.

Free Mi-b@nk - Internet banking facility.

Free RTGS (Real Time Gross Settlement)

transactions at all branches.

Free AAA Cash deposit (Customers) - Free up to 2

transactions per month and a value limit of Rs.

50,000/-.

Free Up gradation from any other savings account of

the Bank to the Orange Savings Account at no

additional cost.

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Benefits:

Free unlimited access to 25,000+ other bank ATMs -

enhanced accessibility.

Free Multi branch, Multi-city banking convenience.

Payable at par Cheques.

Smartserv Personal Concierge Services

Eligibility:

Individuals above the age of 18.

Upwardly mobile tech savvy professionals,

entrepreneurs in metros and urban areas.Guardians on behalf of minors.

Salaried individuals.

Trusts / Societies and Charitable Institutions

Advantages Salary Account

Key Features:

Zero Balance Account.

Free Unlimited ATM transactions on the ING Vysya

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AAA Cash deposits are restricted to two transactions

with a value not exceeding Rs. 50,000/- per month.

Benefits:

The quarterly average balance of Rs. 5000/- is

waived as long as the employee is employed with the

corporate. (Zero Balance Account).

Enhanced Accessibility - Unlimited access to ING

Vysya and Corporation Bank ATMs and 6

transactions at Cirrus ATMs per month.

Free multi-city, multi-branch banking convenience.

Minimum documentation supported by an official

communication from the corporate.

No restriction in the number of transactions in the

account

Eligibility:

The minimum number of employees of the corporate,

whose salary accounts are to be opened, should be

10.

The average salary credit in to the employees

orange salary account should be equal to or higher

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than Rs. 10,000/- per month.

Where there is a joint account holder, the normal

KYC norms need to be adhered to for the joint

account holder

Preferably corporate to have a current account with

ING.

Orange Salary Account

Key Features:

Zero Balance Account. (QAB requirement of Rs.

5000/- reduced to zero)

Free Unlimited ATM transactions on the ING Vysya

ATM network and Corporation Bank ATM

network.

Free unlimited ATM transactions at 25,000 (Cirrus)

ATMs.

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Free ING Vysya International Debit Card

Re-issue charged at Rs. 200/- per request.

Shopping convenience at over 200,000 merchantlocations.

Free issue and unlimited usage of Payable at Par

cheque books.

Free transfer of funds across all the branches of ING.

Free Personal Assistance Service - Smartserv at

select centres.

Free Bill Pay service at select centres.

Free statement of account through e-mail.

Internet banking facility. (Mi-b@nk)

Free Customer Service Line.

Free joint account status with one other family

member.

Adhoc Checkout* (Temp Overdraft) to an extent of 50

% of the last salary credit charged at 18 % for the

number of days overdrawn. Service Charge of

Rs.100/- for every month that the account is

overdrawn.

Free for life Credit Card based on Customers

eligibility

AAA Cash deposits are restricted to two transactions

with a value not exceeding Rs. 50,000/- per month

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Benefits:

The quarterly average balance of Rs. 5000/- is

waived as long as the employee is employed with the

corporate. (Zero Balance Account).


Vysya, Corporation Bank and Cirrus ATMs


Vysya, Corporation Bank and Cirrus ATMs

Minimum documentation supported by an official

communication from the corporate.


account.

Privileged Customer status for retail loan products.

Eligibility:

The minimum number of employees of the corporate,

whose salary accounts are to be opened, should be

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20.

The average salary credit in to the employees

orange salary account should be equal to or higher

than Rs.20,000/- per month.

Where there is a joint account holder, the normal

KYC norms need to be adhered to for the joint

account holder.

Preferably corporate to have a current account with

ING.

Solo Savings Account

Key Features:

Quarterly Average Balance - Rs. 500/- to be

maintained in the account.

Penalty for non-maintenance of QAB will be Rs. 150/-

per quarter.

Free International Debit Card, above 18 years of age,

which affords shopping convenience at over 90,000

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shopping outlets across the country.

Free & unlimited access to all ING ATM's.

Free 30 transactions per annum at HDFC & CorpBank ATM's.


Free Fund transfers within the Profile network

through E-banking channels.

Internet Banking through Mi-b@nk.

Free access to the Customer Service Line.

Personalized Chequebook above 18 years of age.

Smartserv & SMS Alerts at Rs. 100/- per annum.


account.

Bill Pay facility.

Financial transactions at the branch will be charged

at Rs. 50/- per transaction.

In the course of normal operations, if the account is

overdrawn, interest will be charged at 13 % per

annum, for the number of days overdrawn.

Demat Account for electronic storage of shares.

Benefits:

Student's first initiation into empowered banking -

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Independent Bank account.

Wide Accessibility through Corporation & HDFC

ATM's.

E-channels to make banking convenient to the

student.

Freedom Account

Key Features:

Quarterly Average Balance to be maintained in the

account reduced to zero. (Zero Balance Account).

Unlimited ATM transactions on all ING Vysya ATM's.

Free four ATM transactions per month in over 25,000

other Bank ATM's in India.

Shopping convenience at over 200,000 merchant


card.

Free issue of Personalized chequebooks.

Free Electronic Bill Payment service -at select

centres.

Free Transfer of funds across all networked

branches.

Free Statement of Account through E-mail at no

charge.

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Mi-b@nk - Internet banking facility

Customer Service Line facility

Conversion from other type of accounts to theFreedom Savings Account is not allowed.

Annual Maintenance Charge of Rs.1000/- + taxes to

be collected in advance, upfront from the Customer

every year.

Benefits:

Customers can use up to the last penny in their

account.

No unexpected service charges for non-maintenance

of balances.

Free limited access to over 20,000+ other banks

ATM's every month - enhanced accessibility.


Eligibility:



entrepreneurs in metros and urban areas.

Guardians on behalf of minors.

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Trusts / Societies and Charitable Institutions

General Savings Account

Key Features:

Quarterly Average Balance of Rs. 5000/- to be


Service charge for non-maintenance of the quarterly

average balance is Rs. 200/- + taxes per quarter.

Free Unlimited ATM transactions on all ING Vysya

ATM's.

Shopping convenience at over 200,000 merchant


card.

Free International Debit Card for the first year, with a

renewal fee of Rs. 150/- from the second year.

Free Electronic Bill Payment service -at select

centres.

Free Transfer of funds across all networked

branches. (AAA Banking)

Free Statement of Account through E-mail at no

charge.

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Free issue of Personalized chequebooks.

Mi-b@nk - Internet banking facility.

Free Customer Service Line facility.

Benefits:

Basic banking account without any frills.

Service charge for non-maintenance of QAB is only

Rs. 200 + taxes per quarter.


Eligibility:



entrepreneurs in metros and urban areas.



Trusts / Societies and Charitable Institutions.

Saral Savings Account

Key Features:

Quarterly Average Balance of Rs. 200/- to be


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Penalty for non-maintenance of QAB will be Rs. 45/-

per quarter.

Free issue of personalized chequebook.

Free 4 Cash transactions per month at the base

branch through withdrawal slips.

Over and above 4 transactions per month, every

additional transaction during the month will be

charged at Rs. 20/- per transaction.

Free annual Statement of Account.

Additional value added services at a cost:

Debit Card - Rs. 100/- per annum.

Internet Banking - Rs. 100/- per annum.

Customer Service Line - Rs. 100/- per annum.

All AAA cash deposits and withdrawals are charged

at Rs. 50/- per transaction.

Adhoc / Additional statement of accounts will be

charged at Rs. 50/- per transaction.

Up gradation from any other savings account of the

Bank to the Orange Savings account at no additional

cost.

Benefits:

Very low quarterly average balance.

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Basic banking facilities - with a view of financial

inclusion.

For the reach of banking facilities to a vast section of

the population.

Benefits of technology extended at a negligible cost

Eligibility:


Customers at Rural & Semi Urban locations.


Any individual.

Trusts / Societies and Charitable Institutions.

Formula Savings Account

International Debit card

Recognized the world over

The ING Formula debit card is accepted at over 23

million* merchant establishments worldwide,

including 1,10,000* merchant establishments in India

(*information basis MasterCard)

Race anytime, anywhere

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Now you dont need to carry around large amounts

of cash to shop, travel or entertain. Whether your

purchase is planned or on impulse, all you need is

your ING Formula debit card

Easy pit stops

Need cash? Just step into any one of our ATMs or

member ATMs and withdraw cash up to Rs. 50,

000/- a day from ING ATM

Whats more, utilize this facility at over 25,000 ATMs

across the country, free of charge.

Safety Car

The debit card in your hands is the safest way to

transaction

Special Benefits card

Fuel Gauge

Fill fuel across any petrol pump in India and get

the 2.5% surcharge waived

Speed Lap

Shop using your ING Formula savings account

and get Formula One merchandise. Refer to the

rewards catalogue in your usage guide.

Depending upon which item you are interested in

use your ING Formula debit card to shop for the

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required amount fill in the details on the form and

send it to us for us to send you the Formula One

merchandise absolutely free.

Race Day

Whenever there is a Formula 1 race anywhere in

the world, there is a race for you as well. Shop

using your ING Formula debit card on the day of

the race and top 25 spenders for the race day wins

vouchers from ING

3 winners Gift vouchers worth Rs 5000/-

10 runner ups Gift vouchers worth Rs 2000/- 12

second runner ups Gift vouchers worth Rs

1000/-

12 second runner ups Gift vouchers worth Rs 1000/-

Benefits

1) Formula 1 International Debit card

2) Free Payable at Par cheques

3) Exclusive F1 themed, Internet Banking services

4) Free sms alerts on transactions above Rs1,500

Eligibility

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Individuals above the age of 18.Guardians on behalf

of minors.



Average Quarterly balance amount of Rs25000/- to

be maintained

ING Positive Life

Positive Life is a non-medical unit linked insurance plan

for just Rs. 834/-* per month. Now you can meet all your

personal goals and aspirations with ease. With ING Life

Insurance you can truly experience the joy of living a

positive life.

Key Benefits of Positive Life:

Avail the benefits of Systematic Investment by

paying your premiums at pre-determined intervals.

Convenient policy terms of 10, 15 and 20 years

allow you to match your life goals to the policy terms.

Free Unlimited ATM transactions in over 25,000

(Cirrus) ATMs in India.

Flexible premium paying terms allows you to

choose the period you wish to pay, starting from a

minimum of 3 years.

Choice of flexible investment options based on

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individual risk preferences.

Simple documentation and easy processing of the

policy .

Key Benefits

Limited Premium Payment

Flexible investment options

Systematic Investment benefit

Eligibility

Minimum entry age: 0 years

Maximum entry age: 50 years

Policy Term

Policy term can be 10, 15 or 20 years

Premium Payment Terms

Minimum of 3 years upto the policy term

ING Platina & ING Formula Savings

Accounts

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Service Charges/Amount

ING FormulaING PlatinaDetails

SavingsAccountAccount

Quarterly Average Balance (QAB*) Requirement

1.Requirement to

maintain Platina

status

2.Requirement toRs.1,00,000/- NIL

avoid non-Rs.5,000/- NIL

maintenance

chargesNIL Rs.25,000/-

3.*Quarterly

Average

Balance(QAB)

Requirement

Service Charges for Non-Maintenance of Quarterly Average

Balance (QAB)

1.First two calender No charge; NIL

quarters if QAB > = Platina status

Rs. 5,000/- retained NIL

2.First two calender

quarters if QAB < Rs. 600/- per NIL

Rs. 5,000/- quarter; Platina

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status retained

3.After first two

calender quarters if Rs. 600/- per

QAB < Rs. 5,000/- quarter; PlatinaRs. 750/-

4.Quarterly service status

charges for non withdrawn

maintenance of QAB

NIL

General Charges

Statement of

Accounts

Free Quarterly NIL

1.Where QAB is Free Yearly NIL

maintained NIL Free Quarterly

2.Where QAB is not

maintained Rs. 750/- p.a. NIL

3.Statement of Rs. 400/- p.a. NIL

Accounts Rs. 200/- p.a. NIL

4.

Additional

Rs. 50/- per Rs. 50/- per

Statement of request request

Accounts Issued free of Free

Daily charges - both

Weekly MICR and PAP

Fortnightly

Issue of Duplicate /

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Adhoc statements

Cheque book

issues

ATM usage

Savings A/c's

with QAB of

ING Vysya ATMs Rs. 5,000/- and Free

above

Free

*

Other Bank ATM' s

Free Free

International ATMs USD 1.50 per USD 1.50 per

- Withdrawal withdrawal withdrawal

International ATMs USD 0.50 per USD 0.50 per

- Enquiry enquiry enquiry

Savings A/c's

Cash withdrawl at without QAB of

other Bank ATMs Rs. 5,000/-

Balance Enquiry Rs. 20/- per

Issue of transaction Free*

International Debit Free Rs.250/- per

Card Free* annum(Inclusive

Annual Rs. 150/- per of Service Tax)

Maintenance annum

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charges for Debit

Card

6 StandingInstructions

1. Transfer from

one account to

another account NA Freewithin profile

network(Intercity)

Set Up - Rs. 50/-

Amendment-

Rs.25/-

Execution -2. External

NA Rs.25/- perpayments

execution +

Demand Draft

charges +

Postage

7 Closure ofAccounts

1. Within 1 year of

opening NA Rs. 100/-

Remittances

1 Demand Draft / Pay Free issuance NA

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of DDs up to

Rs. 50,000/-

p.m.

Beyond Rs.

50,000/- p.m.

the charges

are:-

Up to Rs.

50,000/- - Rs.

2.50 per Rs.

1,000/- (Min

Rs. 50/-)Order

Rs. 50,001/- to

Rs. 2 lakhs -

Rs. 2.00/- per

Rs. 1,000/-

(Min Rs. 125/-)

Rs. 2 lakhs

and above -

Rs. 1.00/- per

Rs. 1,000/-

(Min Rs. 400/-

Max - Rs.

6,000/-)

2 Charges for PAP Free & Free

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cheque payments

in intercity clearing unlimited

Up to Rs.

3 Free Limit 50,000/- per NA

month

Up to Rs.5

lakhs, Rs.25/- Up to Rs.5 lakhs,

per Rs.25/- perCharges for RTGS

transaction & transaction & Rs.54 (Inward : free for allRs.5 lakhs and lakhs and above

products)above Rs.50/- Rs.50/- per

per transaction

transaction

5 Charges for NEFT Up to Rs.1 Up to Rs.1 lakh,

(Inward & Outward, lakh, Rs.5/- Rs.5/- per

Inward: free for all per transaction & Rs.1

products) transaction & lakh & above,

Rs.1 lakh & Rs.25/- per

above, Rs.25/- transaction

per (Free if transacted

transaction through mi-b@nk,

(Free if Internet Banking)

transacted

through mi-

b@nk, Internet

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Banking)

(Not

applicable to

third party

AAA cashAAA (inter-city)

deposits)6 transaction - cash FREE

2 freedeposits

transactions

per month up

to value limit

of Rs. 50,000/-

Charges beyond free

limit Up to Rs.50,000/-Rs. 2/- per Rs.

Rs.2.50 per

1,000/-Up to and exclusive Rs.1000/-, minRs. 5/- per Rs.

of Rs. 25,000/- Rs.50;1,000/-

Above Rs. 25,000/- Rs.50,001/- to Rs.Rs. 5/- per Rs.

to less than Rs. 2 lakhs - Rs.2.007 1,000/-

50,000/- per Rs.1000/- minRs. 2/- per Rs.

Rs. 50,000/- and of Rs.125;1,000/-

above Beyond Rs. 2Rs. 50/- per

All third party lakhs - Rs.1.00 perAAA cash

deposits Rs.1000/- mindeposit

Minimum charges Rs.400/- (Max of

Rs.6000/-)

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AAA Fund Transfer

Transfer of funds

1 within networked NA Free

branches

Cheque Collection Charges

Local clearing and

at all AAALocal clearing

1 (networked Free Free

branches)

locations

Outstation cheque

drawn on ING2 Free Free

Vysya branch

locations

3 NRI Accounts Free

4 Outstation - non Rs. 50/- + Out Rs. 50/- + Other

networked of pocket bank charges +

branches / non ING expenses + Postage / Courier

Vysya Bank Other bank

locations upto and charges + Rs. 4 per Rs.

including Rs. Postage. 1,000/- (Min. Rs.

10,000/- 50/- & Max.

Rs. 4 per Rs. Rs.5,000/-) + Other

Above Rs. 10,000/- 1,000/- (Min. bank charges +

Rs. 50/- & Max. Postage / Courier

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Rs.5,000/-) +

Out of pocket

expenses +

Other bank

charges +

Postage

Stop Payment of cheque

Transfer of funds Rs. 50/- per

1 within networked NA cheque & Rs.

branches 100/- per series

Cheque return charges per instrument

Cheques depositedRs. 50/- +

by customers andOther bank

1 returned unpaid -

charges +outstation

Postage(returned to us)

Cheques deposited

by customers andRs. 50/- per

2 returned unpaid -instrument

local (returned to

us)

3 Cheque issued by Rs. 200/- per Rs. 200/- per

customers and cheque for cheque if it is due

returned by us cheque to insufficient of

including ECS bouncing. For funds. NIL for any

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Mandate and Post

dated cheques other reasons

including IVBL - No charge other reason.

cheques

Special Services

1 Balanceconfirmation Rs. 25/- Rs. 25/-

Rs. 25 per Rs. 25 per2 Signature

verification attestation attestationRs.25/- per

3 No due certificate Rs.25/- percertificate. certificate.

Rs.100 forRs.100 for each

each enquiryenquiry more than

more than one4 Old record Enquiry one year old from

year old fromthe date of

the date ofrequest

request

Charges for changes

in the operational

5 instructions or noting Free Free

change in the

signature/name

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Conditions Apply :

1) QAB - Quarterly Average Balance is sum of end of

the day balance during the quarter divided by no. of

days in the quarter

2) Service charges indicated above excludes applicable

service tax; subject to change from time to time.

3) Bank reserves the right to change or discontinue

some of the facilities.

4) Free facilities are available only against maintenance

of quarterly average balance.

5) Customer depositing cash of Rs.25,000/- and above

under "Anywhere Banking" should produce letter as per

Bank's format, from the account holder.

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Introduction: Executive summary

of the projectExecutive Summary

Banking Industry, which is basically my concern

industry around which my project has to be revolved, is

really a very complex industry. And to work for this was

really a complex and hectic task and few times I felt so

frustrated that I thought to left the project and go for any

new industry and new project. Challenges, which I faced

while doing this project, were following-

Banking sector was quite similar in offering and

products and because of that it was very difficult to

discriminate between our product and products of the

competitors.

Target customers and respondents were too busy

persons that to get their time and view for specific

questions was very difficult.

Sensitivity of the industry was also a very frequent

factor, which was very important to measure

correctly.

Area covered for the project while doing job also was

very large and it was very difficult to correlate two

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different customers/respondents views in a one.

Every financial customer has his/her own need and

according to the requirements of the customer

product customization was not possible.

So above challenges some time forced me to leave the

project but anyhow I did my project in all circumstances.

Basically in this project I analyzed that-

What factors are really responsible for performance of

ING Banks performance in this competitive era.

Industry status & ING-VYSYA Banks interface

Industry introduction

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 banks and the co-operative banks. In terms of

ownership, commercial banks can be further grouped into

nationalized banks, the State Bank of India and its group

banks, regional rural banks and private sector banks (the

old/ new domestic and foreign). These banks have over

67,000 branches spread across the country in every city

and villages of all nook and corners of the land.

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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 a significant growth in the geographical

coverage of banks. Every bank had to earmark a minimum

percentage of their loan portfolio to sectors identified as

priority sectors. The manufacturing sector also grew

during the 1970s in protected environs 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 eight-fold. And that was not the limit of growth.

After the second phase of financial sector reforms andliberalization of the sector in the early nineties, the Public

Sector Banks (PSB) s found it extremely difficult to

compete with the new private sector banks and the foreign

banks. The new private sector banks first made their

appearance after the guidelines permitting them were

issued in January 1993. Eight new private sector banks

are presently in operation. These banks due to their late

start have access to state-of-the-art technology, which in

turn helps them to save on manpower costs.

During the year 2000, the State Bank Of India (SBI) and

its 7 associates accounted for a 25 percent share in

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deposits and 28.1 percent share in credit. The 20

nationalized banks accounted for 53.2 percent of the

deposits and 47.5 percent of credit during the same

period. The share of foreign banks (numbering 42),

regional rural banks and other scheduled commercial

banks accounted for 5.7 percent, 3.9 percent and 12.2

percent respectively in deposits and 8.41 percent, 3.14

percent and 12.85 percent respectively in credit during the

year 2000.about the detail of the current scenario we will

go through the trends in modern economy of the country.

Current Scenario:

The industry is currently in a transition phase. On the one

hand, the PSBs, which are the mainstay of the IndianBanking system are in the process of shedding their flab in

terms of excessive manpower, excessive non Performing

Assets (Npas) and excessive governmental equity, while

on the other hand the private sector banks are

consolidating themselves through mergers and

acquisitions.

PSBs, which currently account for more than 78 percent of

total banking industry assets are saddled with NPAs (a

mind-boggling Rs 830 billion in 2000), falling revenues

from traditional sources, lack of modern technology and a

massive workforce while the new private sector banks are

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forging ahead and rewriting the traditional banking

business model by way of their sheer innovation and

service. The PSBs are of course currently working out

challenging strategies even as 20 percent of their massive

employee strength has dwindled in the wake of the

successful Voluntary Retirement Schemes (VRS)

schemes.

The private players however cannot match the PSBs

great reach, great size and access to low cost deposits.

Therefore one of the means for them to combat the PSBs

has been through the merger and acquisition (M&A) route.

Over the last two years, the industry has witnessed

several such instances. For instance, HDFC Banks

merger with Times Bank , ICICI Banks acquisition of ITCClassic, Anagram Finance and Bank of Madurai.

Centurion Bank, IndusInd Bank, Bank of Punjab, Vysya

Bank are said to be on the lookout. The UTI bank- Global

Trust Bank merger however opened a pandoras box and

brought about the realization that all was not well in the

functioning of many of the private sector banks.

Private sector Banks have pioneered internet banking,

phone banking, anywhere banking, mobile banking, debit

cards, Automatic Teller Machines (ATMs) and combined

various other services and integrated them into the

mainstream banking arena, while the PSBs are still

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grappling with disgruntled employees in the aftermath of

successful VRS schemes. Also, following Indias

commitment to the WTO agreement in respect of the

services sector, foreign banks, including both new and the

existing ones, have been permitted to open up to 12

branches a year with effect from 1998-99 as against the

earlier stipulation of 8 branches.

Tasks of government diluting their equity from 51 percent

to 33 percent in November 2000 have also opened up a

new opportunity for the takeover of even the PSBs. The

FDI rules being more rationalized in Q1FY02 may also

pave the way for foreign banks taking the M& A route to

acquire willing Indian partners.

Meanwhile the economic and corporate sector slowdownhas led to an increasing number of banks focusing on the

retail segment. Many of them are also entering the new

vistas of Insurance. Banks with their phenomenal reach

and a regular interface with the retail investor are the best

placed to enter into the insurance sector. Banks in India

have been allowed to provide fee-based insurance

services without risk participation, invest in an insurance

company for providing infrastructure and services support

and set up of a separate joint-venture insurance company

with risk participation.

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Aggregate Performance of the Banking Industry

Aggregate deposits of scheduled commercial banks

increased at a compounded annual average growth rate

(Cagr) of 17.8 percent during 1969-99, while bank credit

expanded at a Cagr of 16.3 percent per annum. Banks

investments in government and other approved securities

recorded a Cagr of 18.8 percent per annum during the

same period.

In FY01 the economic slowdown resulted in a Gross

Domestic Product (GDP) growth of only 6.0 percent as

against the previous years 6.4 percent. The WPI Index (a

measure of inflation) increased by 7.1 percent as against

3.3 percent in FY00. Similarly, money supply (M3) grew by

around 16.2 percent as against 14.6 percent a year ago.The growth in aggregate deposits of the scheduled

commercial banks at 15.4 percent in FY01 percent was

lower than that of 19.3 percent in the previous year, while

the growth in credit by SCBs slowed down to 15.6 percent

in FY01 against 23 percent a year ago.

The industrial slowdown also affected the earnings of

listed banks. The net profits of 20 listed banks dropped by

34.43 percent in the quarter ended March 2001. Net

profits grew by 40.75 percent in the first quarter of 2000-

2001, but dropped to 4.56 percent in the fourth quarter of

2000-2001.

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On the Capital Adequacy Ratio (CAR) front while most

banks managed to fulfill the norms, it was a feat achieved

with its own share of difficulties. The CAR, which at

present is 9.0 percent, is likely to be hiked to 12.0 percent

by the year 2004 based on the Basle Committee

recommendations. Any bank that wishes to grow its

assets needs to also shore up its capital at the same time

so that its capital as a percentage of the risk-weighted

assets is maintained at the stipulated rate. While the IPO

route was a much-fancied one in the early 90s, the

current scenario doesnt look too attractive for bank

majors.

Consequently, banks have been forced to explore other

avenues to shore up their capital base. While some arewooing foreign partners to add to the capital others are

employing the M&A route. Many are also going in for right

issues at prices considerably lower than the market prices

to woo the investors.

Interest Rate Scene

The two years, post the East Asian crises in 1997-98 saw

a climb in the global interest rates. It was only in the later

half of FY01 that the US Fed cut interest rates. India has

however remained more or less insulated. The past 2

years in our country was characterized by a mounting

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intention of the Reserve Bank Of India (RBI) to steadily

reduce interest rates resulting in a narrowing differential

between global and domestic rates.

The RBI has been affecting bank rate and CRR cuts at

regular intervals to improve liquidity and reduce rates. The

only exception was in July 2000 when the RBI increased

the Cash Reserve Ratio (CRR) to stem the fall in the

rupee against the dollar. The steady fall in the interest

rates resulted in squeezed margins for the banks in

general.

Governmental Policy:

After the first phase and second phase of financial

reforms, in the 1980s commercial banks began to function

in a highly regulated environment, with administeredinterest rate structure, quantitative restrictions on credit

flows, high reserve requirements and reservation of a

significant proportion of lendable resources for the priority

and the government sectors. The restrictive regulatory

norms led to the credit rationing for the private sector and

the interest rate controls led to the unproductive use of

credit and low levels of investment and growth. The

resultant financial repression led to decline in productivity

and efficiency and erosion of profitability of the banking

sector in general.

This was when the need to develop a sound commercial

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banking system was felt. This was worked out mainly with

the help of the recommendations of the Committee on the

Financial System (Chairman: Shri M. Narasimham), 1991.

The resultant financial sector reforms called for interest

rate flexibility for banks, reduction in reserve requirements,

and a number of structural measures. Interest rates have

thus been steadily deregulated in the past few years with

banks being free to fix their Prime Lending Rates (PLRs)

and deposit rates for most banking products. Credit

market reforms included introduction of new instruments

of credit, changes in the credit delivery system and

integration of functional roles of diverse players, such as,

banks, financial institutions and non-banking financial

companies (Nbfcs). Domestic Private Sector Banks wereallowed to be set up, PSBs were allowed to access the

markets to shore up their Cars.

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Training on Selling Skills

One day we all summer trainees got a chance to attend a

special training session of sales in ING-Vysya Bank.

There we come to know the basics of selling. I am very

thankful to my seniors especially Pankaj Sharma Sir and

Arastu Sharma Sir who made us to attend this training

session. Here are some of the key learnings of that

session.

What is selling?

Selling is a process of mutual exchange of goods or

services for a value. One of the most effective ways of

increasing the organizational profits.

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Sales Cycle

Lead Generation

Preparation for the sale

Meeting the customer

Introduction

Presentation

Closing

Follow-up

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Steps of Selling

Step1: Lead Generation

A lead is generally defined as someone who shows an

interest in any of the products/services.

The aim should be to fill the lead funnel with as many

qualified leads as possible to build a strong and valuable

.database

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Leads

Good Qualifying Leads Poor Qualifying Leads

Customers who you think will fulfill Customers who you think may not ablethe KYC norms without much to provide required documentation as

difficulty and you can convert them per the KYC norms .into your customers.

Follow-up and convert Stop working on such

leads

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Step 2:The Commandments of

Preparation

1. First impression is important. A customer will form an

opinion of you within the first 30 seconds. You will be

judged on:

Your appearance

Your attitude

Your presentation

2. Dress appropriately. Wear clothes that relate to the

job you are in. Pay attention to things like hygiene,

cleanliness, neat clothing etc. These are important!

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3. Keep copies of product brochures, account opening

& other related forms. Circulars 7 any other related

references that you may need on your table.

4. Collect background information of the customer (if

available). Go through the same prior to the meeting.

Plan your questions that you wish to ask.

5. Dont smoke or chew gum prior to any meeting

customer. If you are in the habit, best is to wash the

mouth with water or any mouthwash prior to meeting

a customer.

6. Remember to speak in a clear loud voice enough to

be heard.

7. Sit up in a chair and lean slightly toward the

customer. Show interest in what theyre saying. Try

not to do things like cross your arms and lean away.

Maintain eye contact and a pleasant expression on your

face.

8. Do not let telephone calls disturb you during the

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conversation. In case of emergency, seek the

permission of the customer & try, limit to a minimum

and as brief as possible.

Learn to make criticism. When your customer to

you that you could do a job better or faster,

recognize these as a way to improve your

performance.

Step 3: Meeting the Customer

a) A Introduction

Greet the customer cheerfully and politely.

Address him/her with their formal name and shake

hands.

Sit in a position that both of you can see each

other clearly

Remember to speak in a clear voice loud enough

to be heard.

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Introduce yourself, the organization, your role and

the purpose of todays meeting

Set a timeline for the meeting and ask the

customer if he is ok with the time-line.

Use the detailer to make the introduction and

let the customer choose the product. If you know the

background, you can indicate the product that you are

detailing and get on with the detailing.

Presentationb)

As on the detailer-

Tips for effective presentation

Memorize the details on the chart

Hold the chart in such a way that its visible to the

customer clearly

Use a pen/pointer and point out the product and

introduces the product.

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Use a pen/pointer and speak about each of the

features of the product.

Use a pen/pointer and speak about the advantages

comparing the same to the features of the product.

Show the charges chart and point to the relevant

table for the same.

Ask if there are any questions that the customers

may have.

Ask if the customer is interested in any of the

products.

Step 4: Closing

Get a commitment from the customer in the form of

yes or ask for any objections.

Hand over the appropriate form to the customer

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Run through the various details in the form

Indicate where the customer has to provide additional

data.

Check for the possibility of the customer needs for

other products of the bank.

Thank the customer for the time and agree on a new

date/time to collect the documents.

What is KYC

KYC is Know Your Customer Guidelines that we need to

follow as a bank. Every customer of the bank should

necessarily satisfy the KYC norms laid down.

How can I do KYC for a lead?

When you meet a customer, he should seem what he has

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stated about himself. For example a salaried employee

should be able to state the name of the organization and

the location of the office easily without having to refer to

any document.

What documents should I ask for?

The prescribe documents as to what has been given in the

application form and also in the sales detailer

What should I do when I get the documents?

Look at each of the documents and compare with the data

given by the customer. If there is any deviation, clarify withthe customer immediately.

What should I do if the customer has no supporting

document?

Ask of the customer can get it in a few days time, if no,

drop the lead.

Whats the impact of not following KYC?

The organization faces a reputation risk and the sales

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executive may face appropriate charges/actions for non-

complying with KYC

Research Methodology

Objective of the study

Project study, which is being conducted by me for the last

two month, is not only a formality for the fulfillment of the

two-year full time Post Graduate Program in Research

and Business Analytics. But being a management student

and a good employee I tried my best to extract best of the

information available in the market for the use of society

and people. The objectives are-

To know about environmental factors affecting

ING-Vysya Banks performance.

To analyze the role of advertisement for bank

performance.

To know the perception and conception of customers

towards banking products and specially focused for

ING Banks product.

To explore the potential areas for the new bank

branches which will provide both price and people to

the bank with constant promotion and placing

strategy.

Scope of the Study

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Each and every project study along with its certain

objectives also has scope for future. And this scope in

future gives to new researches a new need to research a

new project with a new scope. Scope of the study not only

consist one or two future business plan but sometime it

also gives idea about a new business which becomes

much more profitable for the researches then the older

one.

Scope of the study could give the projected scenario

for a new successful strategy with a proper

implementation plan. Whatever scope I observed in my

project are not exactly having all the features of the scope,

which I described above, but also not lacking all the

features .

Research study could give an idea of network

expansion for capturing more market and customer

with better services and lower cost, with out

compromising with quality.

In future customer requirements could be added with

the product and services for getting an edge over

competitors.

Consumer behavior could also be used for the

purpose of launching a new product with extra

benefits which are required by customers for their

account (saving or current) and/or for their

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investments.

Factors, which are responsible for the performance

for bank, can also be used for the modification of the

strategy and product for being more profitable.

Factors which I observed while doing project study

are following-

1. Competitors

2. Customer Behavior

3. Advertisement/promotional activities

4. Attitude of manpower and

5. Economic conditions

These all could also be interchanged with each

other for each other in banks strategies for

making a final business plan to effect the market

with a positive way without disturbing a lot to

market, customers and competitors with

disturbance in market shares .

Tools and Techniques

As no study could be successfully completed without

proper tools and techniques, same with my project. For

the better presentation and right explanation I used tools

of statistics and computer very frequently. And I am very

thankful to all those tools for helping me a lot. Basic tools

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which I used for project from statistics are-

Bar Charts

Pie chartsTables

Bar charts and pie charts are really useful tools for every

research to show the result in a well clear, ease and

simple way. Because I used bar charts and pie charts in

project for showing data in a systematic way, so it need

not necessary for any observer to read all the theoretical

detail, simple on seeing the charts any body could know

that what is being said.

Technological Tools

Ms- Excel

Ms-Access

Ms-Word

Above application software of Microsoft helped me a lot in

making project more interactive and productive.

Microsoft-Excel had a great role in my project, it

created for me a situation of you sit and get. I

provided it simply all the detail of data and in return it

given me all the relevant information..

Microsoft-Access did the performance of my personal

assistant who organizes my all the details of document

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without disturbing them even a single time in all the project

duration.

And in last Microsoft-Word did help me for the

documentation of the project in a presentable form.

Applied Principles and Concepts

While I started to do the project the main thing, which was

the matter of concern was that, around what principles I

have to revolve my project. Because with out having any

hypothesis and objective we cannot determine that what

output or result we are expecting form the project.

And second thing is that having only tools and techniques

for the purpose of project is not relevant until unless we

have the principals for which we have to use those toolsand techniques.

Mathematical Averages

Standard Deviation

Correlation

Sources of Primary and Secondary data:

For the purpose of project data is very much required

which works as a food for process, which will ultimately

give output in the form of information. So before

mentioning the source of data for the project I would like to

mention that what type of data I have collected for the

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purpose of project and what it is exactly.

Primary Data:

Primary data is basically the live data which I collected

on field while doing cold calls with the customers and I

shown them list of question for which I had required

their responses. In some cases I got no response form

their side and than on the basis of my previous

experiences I filled those fields.

Source: Main source for the primary data for the project

was questionnaires, which I got filled by the customers

or some times filled myself on the basis of discussion

with the customers.Secondary Data:

Secondary data for the base of the project I collected

from intranet of the Bank and from Internet, RBI Bulletin

etc.

Statistical Analysis

In this segment I will show my findings in the form of

graphs and charts. All the data which I got form the market

will not be disclosed over here but extract of that in the

form of information will definitely be here.

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Table1: Correlation between awareness of customers

about ING

NO. OF RESPONSE AGE

15 20-25

25 25-30

5 30-35

10 35-40

11 40-4510 45-50

12 50-60

12 60-ABOVE

25

20

15

No.of10

responses5

0

20- 30- 40- 50-

25 35 45 60

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TABLE 2: PERCEPTION OF ING AS A BANK

TYPE OF BANK RESPONSES

PRIVATE 50

PUBLIC 15

PRIVATE/PUBLIC 25

DON'T KNOW 10

10

Private25

Public

50 Private/Public

Don't know

15

TABLE 3 : RATING OF CUSTOMERS FOR ING BANK

AS A GOOD BANK

PARAMETER RESPONSES

EFFICIENCY 75%

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INTERNET BANKING/ATMs 5%

PRODUCT RANGE 10%

NETWORK 5%

PHONE BANKING 5%

Efficiency

Internet

banking/ATM

10%5%5% s5%

Product

range

75%

Network

Phone

Banking

TABLE 4: MARKET SHARES OF ING IN BAREILLY IN

COMPARISION TO COMPETITORS

BANK NAME % OF SHARE

SBI 30%

IDBI 15%

ICICI 25%

PNB 10%

HDFC 5%

ING 5%

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OTHERS 10%

30%

SBI25%

IDBI20%

ICICI15%

PNB10%HDFC

5% ING

OTHERS0%

% OF SHARE

TABLE 5: FACTORS RESPONSIBLE FOR

PERFORMANCE OF ING BANK IN BAREILLY

PARAMETERS % OF SHARE

PRODUCT 50%

ADVERTISMENT 5%

MANPOWER 25%

NET-BANKING 2%

PHONE BANKING 5%

INVESTMENT SCHEME 10%

NETWORK 3%

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60%

50%

50% PRODUCT

ADVERTISMENT40%

MANPOW ER

30% NET-BANKING25%

PHONE BANKING20%

PERSENTAGE INVESTMENT SCHEME10%

10% NETWORK 5%3%2% 5%

0%

% OF SHARE

PARAMETERS

TABLE 6: THE EFFECTIVENESS OF COMMERCIALS

OF ING BANK

DAYS AFTER THE AD IS

SEEN POSITIVE RESPONSE

0-5 days 45

6-10 days 1511-15 days 25

More than 15 days 15

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45

40

35

30

25

20

15 Positive

10 response5

0

0-5 11-

days 15

days

Table 7:Products/Services the customers are

presently availing

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Savings account 35

Current Account 25

FDR 15Life Insurance 5

Mutual Fund 7

SIP 2

Lockers 5

Demat Account 6

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Savings a/c

Current a/c7 25 6 FDR 35

5 LI

MF

15 SIP

25 Lockers

Demat a/c

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Table:8 Satisfaction level of the respondents from

their respective banks

Highly satisfied 2

Satisfied 75

Neither satisfied nor 15

dissatisfied

Dissatisfied 6

Highly Dissatisfied 2

89 89


90/112

26 2

15 H.Satisfied

Satisfied

N.S.N.DS

DS

H.DS

75

90 90


91/112

Table 9: No.of Respondents know about ING Bank

Never heard 80

Heard few times 15

Heard frequently 5

5

15Never heard

Heard fewtimes

Heard

frequently

80

91 91


92/112

Table: 10 Kind of Banking services the respondents

wish to use

High priority services 25

Preferred services 35

Normal services 40

High priority25services

40Preferred

services

Normal

35 services

92 92


93/112

Table 11:Type of investment the respondents like to

invest

FDR, NSC 55

Mutual Fund 5

SIP 5

LI 15

Shares 5

Gold 5

Govt. & Tax saving Bonds 10

FDR,NSC5 10 MF

5 SIP

LI15 55

Shares

Gold5

5Govt.Bonds

Table 12: No.of Respondents availing the facility of

Locker

Yes 65

No 35

93 93


94/112

70

60

50

40no.of

30 Respondents

20

10

0Yes No

Table 13: Preferences of the respondents at the time

of hiring the locker

Safety/Security 35

Operating time 15

Rental/Security charges 35

Locker Size 10

94 94


95/112

Parking space outside 5

bank

5

10

35 safety/security

operating time

rental/Security charges

Locker size

parking space

35

15

Preferences of respondents in respect of

hiring a locker

Table 14: Categorization of respondents on the basis

of Annual Income

< 60000 2

60000-100000 25

100000-500000 65

95 95


96/112

500000-1500000 6

>1500000 2

1500000

Table 15: Categorization of respondents on the basis

of Education

Under-Graduate 5

Graduate 85

Post-Graduate 10

96 96


97/112

510

UG

Graduate

PG

85

Table 16: General impression of the respondents

about

ING-Vysya Bank

High Quality services & 5

Reliability

Average quality services 90

& Dependability

Low quality services & 5

97 97


98/112

Reliability

High quality

services5 5

Average

qualityservices

Low quality90 services

Conclusions and Recommendations

Conclusions

1. Customers of Bareilly have enough awareness level

about ING Vysya bank as well as about its services

and products.

2. The advertising campaign has successfully been able

to increase the market share of ING in Bareilly.

3. The modern days technology like Internet banking,

phone banking, used by ING bank for providing

banking services has sent positive signals in the

mind of consumers.

98 98


99/112

4. The network of ING in Bareilly is lagging behind a

little than its competitors like ICICI bank and HDFC

bank.

5. It can be distilled from data that ING bank has good

market share as compared to its competitors

considering the amount of resources deployed by

them in the market.

6. It has a very good potential to have the new

customers especially the youth because it has the

Formula a/c, which is very much liked by the youth in

the other cities.

7. Most of the residents of Bareilly dont know about the

establishment of ING-Vysya Bank in Bareilly.

8. Most of the persons having contacts in big citiesknow about ING-Vysya Bank very well and also the

products.

9. ING-Vysya Bank is providing more facilities to its

customers in comparison to other banks such as

hospital scheme, investment scheme etc

10. Locker facilities in ING-Vysya Bank are more

modernized in comparison to other banks.

11. Commercials of ING-Vysya Bank have a very

deep impact on the minds of people. Even they can

remember the name after the 15 days of the telecast

of the commercials on television.

99 99


100/112

12. Operating time for cash counter is from 10 in the

morning till 6 in the evening. This is much more than

any other bank in Bareilly.

13. ULIP plans are beneficial from the long-term

perspective whereas customer should invest in

mutual funds if he wants quick returns.

Most of the market is still unaware about the ULIP14.

plans and hence by making proper promotional

strategy companies can increase there sales .

Findings

1.ING bank has potential a tapped market in Bareilly

and hence has opportunities for growth.

2.The products of ING bank have good credibility in the

region compare to its competitors.

3.The advertisement of the bank was very effective

from the first day of its airing till the fifth day and there

after it starts declining.

4.The initial balance for A/C opening is Rs, 5000/- and

thats why people are reluctant in opening the same.

100 100


101/112

5. ING is very much compliance to follow the KYC

norms.

6. The size of the locker provided by the ING-Vysya

Bank is big in size as compared to other

banks.

7. The residents of Bareilly like the products of ING-

Vysya Bank. Most of them need some change. So, they

can be the new potential customers for ING Bank.

8. Even today, the people of Bareilly believe in the

government banks. For them, ING Bank is a private bank.

Recommendations

1) More resources should be allocated in the market of

Bareilly as there is big untapped market in Bareilly, so itbecomes necessary for ING bank for taking an edge over

the competitors.

2) A short advertising campaign in Bareilly has produced

good results in a short span of times, so to gain long term

benefits is very necessary for ING bank to carry on this

campaign with more intensity.

3) Besides opening more branches it should also look for

opening some extension counter in D.D.Puram.

4) As a number of colleges are going to be opened in

Bareilly in the next few years, so ING should try to gain

some contacts with these colleges.

101 101


102/112

5) Most of the people in Bareilly wants that they should not

stand in queue in bank . If we can convince them on this,

than this can open a vast potential market for ING Bank in

Bareilly.

6) The cash withdrawal time can be one of the aspects to

gain popularity in Bareilly.

7) The benefits provided by the ING Bank to its customers

should be advertise so that people can understand that

customers satisfaction is the main aim for the persons

working in ING.

8) The businessman should be convinced on the cash

operating time. This makes ING to tap the huge market of

Bareilly.

LIMITATIONS

1. The sample size is very less, hence the responses of

just 100 respondents does not imply for the complete

population.

2. There was lack of time and resources that prevented

from carrying out an in depth study.

3. The findings of the survey are based on the subjective

102 102


103/112

opinion of the respondents and there is no way of

assessing truth of the statements.

4. There is some respondents bias, which cannot be

removed.

5. Lastly, some amount of error exists in the data filling

process because of the following reasons:

Influence of others.

Misunderstanding of the concept.

Hurried filling of the questionnaire.

Questionnaire

1) Name ________________

2) Age ________________

3) Sex _________________

4) Contact No ._______________

103 103


104/112

5) Education __________________

6) Marital Status ______________-

7) Occupation:

Salaried Retired

Business House-wife

Self-Employed Student

AgricultureOthers(specify)_________

8) Income P.A.:


105/112

500000-1000000

>1500000

9) Your current Bank __________________________

10) What products/services you are presently availing

Saving a/c Mutual Fund

Current a/c SIP

FDR Equity

Life Insurance Lockers

Demat a/c Credit card

Loans

11) How happy you are with the services provided by

your existing bank .

Highly satisfied

105 105


106/112

Satisfied

Neither satisfied nor dissatisfied

Dissatisfied

Highly dissatisfied

12) Before this survey, how often had you heard of

ING Vysya Bank Ltd .

Ive never heard before

Ive seen or heard a few times

I see or hear frequently

106 106


107/112

13) How you came to know about ING Vysya Bank Ltd.

TV Commercials

Word of Mouth

Billboards

14 ) What are your general impressions of ING Vysya

Bank

High quality services and reliability

Average quality services and dependability

Low quality services and reliability

15) Are you associated with ING Vysya bank

Yes

No

107 107


108/112

If yes, then please specify

_____________________________

16) What kind of banking services you generally wish

to use

High priority services

Preferred services

Normal services

17) In which form of investment you invest the most

FDR Equity

Mutual Funds Shares

SIP Gold

Life Insurance Government

108 108


109/112

and tax saving bonds

18) If you invest in mutual funds more frequently,

would you like all your funds to be managed and

controlled at a single point rather than scattered

Yes of course

I am not sure

Its not possible

19) Have you hired a safe deposit locker in any of the

bank

Yes

No

If yes, then please specify________________________

20) If you would hire a locker, what will be your

109 109


110/112


111/112

BIBLIOGRAPHY

www.ingvysyabank.com1)

2) www.google.com

3) R.S. Sharma, Business statistics, First India Print,

India, 2004,

Aaker Kumar and Day, Marketing research, 6 th4)

Ed.,john willy & sons,1997.

5) ICFAI Journal of Banking

6) The Economics times

111 111


112/112

7) The Times of India

Documents

Report on Ing-Vysya