Retail Banking Final

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Text of Retail Banking Final

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    Datta meghe institute of management Studies

    Shaista Anjum

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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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