Retail Banking Final

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CONTENTS

Certificate

Declaration

Acknowledgement

List of Illustrations/Tables

Abstract

Chapter 1

1.1 Objectives, Scopes, and Limitations

1.2 Research Methodology

Chapter 2

2.1 Introduction to Banking

2.2 Introduction to Retail Banking

2.3 Introduction to Indusind Bank

2.4 Indusind Retail Services

Chapter 3

3.1 Interpretation of PIE and BAR chart.

Chapter 4

Conclusions

4.1 Conclusion/Findings

4.2 Recommendations

References

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OBJECTIVE:

The main objective of this project is to study the awareness of the satisfaction of

customers regarding the Indusind Retail Banking. During this summer internship

program period I have to achieve some thing, which is helpful for my career, and

some value addition to the Banking Company. It gives me good opportunity to

expose and creating good impression of corporate mind.

To study on the Customer Satisfaction level on retail banking.

To find out what type of problem customer are facing related to service

delivered by Indusind Bank.

To understand the operations and modalities of Retail banking.

To know the technical advancement benefits for customers.

SCOPE:

Money is the centre of world economy and Bank works as a central point for money.

Banking industry is a very growing industry and among all the private nationalized

banks, particularly Indusind is doing very well. In this time of global slowdown where

the other companies are laying off their staffs Indusind has so many vacancies all over

India. So there is a huge potential for getting jobs in Indusind.

LIMITATIONS:

1. The survey was limited to Nagpur city only.

2. Target customers and respondents were too busy persons, so it was difficult to

get their time and view for specific questions.

3. Area covered for the project while doing job also was very large and it was

very difficult to correlate two 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.

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Research Methodology:

The Research and Methodology adopted for the present study has been systematic and

was done in accordance to the objectives set which has been detailed as below.

Research Definition

Research is a process in which the researcher wishes to find out the end result for a

given problem and thus the solution helps in future course of action.

According to Redman & Mory, research is defined as a Systemized effort to

gain new knowledge.

Research Design:

According to Claire Seltiz, a research design is the arrangement of condition and

analysis of data in manner that aims to combine relevance to the research purpose

with economy in procedure.

Nature of Research:

Research is basically of two types.

1. Descriptive research

2. Explorative research

1. Descriptive Research:

My research design is descriptive as descriptive research

Describe the characteristics of certain groups/ samples / populations.

Estimate proportions in specified populations.

Make specific predictions.

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Determining sources of Data:

There are two main sources of data:

1. Primary data2. Secondary data

Primary Data: are those which are collected afresh and for the first time, and thus

happened to be original in character. Methods of primary collection are as follows:

Questionnaire

Secondary Data: It consists of information that already exists somewhere and has

been collected for some specific purpose in the study. The secondary data for this

study is collected from various sources like,

Books.

Website.

Newspaper(Economic times)

Financial Magazine. ( Financial express , business world etc)

Sample Size: Total sample size is 100

Questionnaire Development:

Questionnaire is the most common instrument in collecting primary data. In order to

gather primary data from viewers. The present questionnaire consists closed ended

type of questions.

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Sampling:

Sampling is that part of statistical practice concerned with the selection of individual

observations intended to yield some knowledge about a population of concern,

especially for the purposes of statistical inference.

In my survey, I have taken convenience sampling. My sampling is probability

sampling as probability sampling that has been selected using simple random

selection each unit in the population has a known chance of being selected.

Moreover, my sampling technique is simple random technique as in simple Random

sampling; each unit of the population has an equal probability of inclusion in thesample. In my survey, each respondent have equal opportunity to be selected and the

data, which I collected, was from customers of INDUSIND who is engaged in retail

banking.

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ABOUT BANKING:

Origin of Banking

Banks are among the main participants of the financial system in India.

Banking offers several facilities and opportunities. Banks in India were started on the

British pattern in the beginning of the 19thcentury. The first half of the 19thcentury,

The East India Company established 3 banks The Bank of Bengal, The Bank of

Bombay and The Bank of Madras. These three banks were known as Presidency

Banks. In 1920 these three banks were amalgamated and The Imperial Bank of India

was formed. In those days, all the banks were joint stock banks and a large number of

them were small and weak.

At the time of the 2ndworld war about 1500 joint stock banks were operating

in India out of which 1400 were nonscheduled banks. Bad and dishonest management

managed quiet a quiet a few of them and there were a number of bank failures. Hence

the government had to step in and the Banking Companys Act (subsequently named

as the Banking Regulation Act) was enacted which led to the elimination of the weak

banks that were not in a position to fulfill the various requirements of the Act. In

order to strengthen their weak units and review public confidence in the banking

system, a new section 45 was enacted in the Banking Regulation Act in the year 1960,

empowering the Government of India to compulsory amalgamate weak units with the

stronger ones on the recommendation of the RBI. Today banks are broadly classified

into 2 groups namely(a) Scheduled banks. (b) Non-Scheduled banks.

Customers are broadly classified into two:

1. Personal Customers: Individuals having accounts singly or jointly (including

minors)

2. Non Personal Customers: Non individual customers like Proprietary concerns,

Partnerships, Companies, Trusts, Associations, Clubs, Societies, Institutions,

Govt. Departments, NGOs, SHG etc.

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Accounts are broadly classified into two:

Customer accounts (external accounts): Deposit accounts (Savings Bank, Current

Account etc), Loan Accounts (Demand Loan, Term Loan etc) and Contingentaccounts (Bank Guarantee etc)

Office accounts. (Internal accounts): Cash Balance accounts, fixed assets account,

Drafts account, Sundry Deposit account, Interest account etc.

Basic Deposits Account:

Savings Bank: Running account for saving with restriction in number ofwithdrawal.

Current Account: Running account without restriction on number of

withdrawals.

Term Deposit:Deposit of an amount for a fixed period where interest is paid

monthly/Quarterly.

Special Term Deposit: Deposit of an amount for a fixed period where interest

is compounded Capitalized) and paid on maturity. Recurring Deposit: Regular (Monthly) deposit of a fixed amount for a fixed

period.

Types of Loan Account:

Overdraft

Demand Loan

Term LoanCash Credit

1. Overdraft:

A Current account when permitted to overdraw (allowing withdrawal more than

deposited or without deposits) becomes an overdraft account.

Can be operated by cheque, ATM, INB

A type of advance of temporary nature/ to valued clients sometimes against Term

Deposit, NSC etc.

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