A

Project report

On

“Survey Regarding Standard Chartered Bank”

C.T INSTITUTE OF MANAGEMENT AND I.T

{Affiliated to Punjab Technical University, Jalandhar}

Maqsudan Campus

SUBMITTED BY: SUBMITTED TO:

Farooque Azam Mrs. Rajwinder Kaur

BBA 4th Sem (Project Guide)

81407320006

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TABLE OF CONTENTS

S. No.

PARTICULARS

1.

2.

3.

RESEARCH METHODOLOGY

Objectives of the Study Research Methodology Limitations of the Study

INTRODUCTION TO BANKING SYSTEM

Introduction to banking Definitions: Introduction to banking system Privatization of Indian banking

PROFILE OF STANDARD CHARTERED BANK

Standard Chartered Bank

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4.

5.

6.

7.

8.

9.

History of Standard Chartered Bank Standard chartered in India

DATA ANALYSIS / INTERPRETATION Data Analysis and Its Interpretation

FINDINGS OF THE STUDY

Findings of the Study Suggestions

CONCLUSION Conclusion

BIBLIOGRAPHY

ANNEXURE

QUESTIONAIRE

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RESEARCH METHODOLOGY

OBJECTIVES OF THE STUDY

Bank’s to know about the different deposit schemes provided by Standard

Chartered Bank.

To know the type of facilities provided by Standard Chartered Bank in

deposits accounts.

To know the satisfaction level of the customers regarding deposit accounts of

Standard Chartered Bank.

To analyze the problems faced by customers while opening an account in

Standard Chartered Bank.

To get information regarding different conditions to be fulfilled for opening a

deposit account in Standard Chartered Bank.

To know the customer satisfaction with bank’s overall performance. to know

the staff attitude towards customers.

RESEARCH METHODOLOGY

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Research means a search for knowledge or gain some new knowledge and

methodology can properly refer to the theoretical analysis of the methods

appropriate to a field of study or to the body of methods and principles

particular to a branch of knowledge. A Research methodology has a

specified framework for collecting the data in an effective manner.

Research methodology means a "defining a problem, defining the research

objectives, developing the research plan, collecting the information,

analyzing the information and presentation of findings." Such framework is

called” Research Design". The research process that was followed by me

consisting following steps;

A) Defining the problem

B) Developing the research plan

C) Collection of Data

D) Analysis and Interpretation of Data

E) Presentation of findings

A) Defining the problem and research objectives

My research problem is to study the product and services provided by sales

outbound team of standard chartered bank in Jalandhar

B) Developing the Research Plan

The development of research plan has following steps:

1. Data source

2. Research approach

3. Type of Research Design

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4. Research instrument

5. Sampling plan

i) Sample unit

ii) Sample size

iii) Contact methods

6. Questionnaire Design

1.Data Source: The researcher can get two types of data:

a) Primary Data

b) Secondary Data

c) Data Recording

a) Primary Data

Primary data is a data which did not exist earlier and is being collected by the

researcher first time for its specific objectives. In other words, direct personal

interview is conducted with the help of questionnaire.

b) Secondary data

Any data which have been collected earlier for some purpose are the secondary

data. Indirect collection of data from sources containing past or recent past

information like bank's brochures, annual publication, books etc.

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Secondary sources used are:

Text books

Internet sites

Newspaper articles

Broachers

2. Research Approach

Survey is best suited for descriptive and analytical research. Survey are

undertaken to learn about people's knowledge, beliefs, preferences, satisfaction

and so on and to measure these magnitudes in the general public.

Therefore, I have done this survey for Descriptive and analytical research process.

Descriptive research includes surveys and fact finding enquiries of different kinds.

The main purpose is description of the state of affairs is noted down and analytical

research used to analyze the material and facts.

3. Research instrument

Questionnaire:

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Questionnaire (also known as self-administered survey) is a type of statistical

survey handed out in paper form usually to a specific demographic to gather

information in order to provider better service or goods. A document that contains

a set of questions that has been specially formulated as a means of collecting

information and surveying opinions, etc on a specified subject or theme, etc .A

questionnaire was constructed for my survey.

4. Sampling plan:

Sample is a group of few items which represents the population or universe from

where it has been taken. The sampling plan calls for three decisions;

a) Sample unit

b) Sample size

c) Contact methods

a) Sample unit – who is to be surveyed?

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The target population must be defined that has to be sampled. It is necessary so

as to develop a sample frame so that everyone in the target population has an

equal chance of being sampled. I have completed my survey in Standard

Chartered Bank, Jalandhar.

b) Sample size - how many people have to be surveyed?

Generally, large sample size gives more reliable results than small samples. The

sample consisted of 20 account holders of Standard Chartered Bank, Jalandhar.

c) Contact methods

Once the sampling plan has been determined the Questionnaire is how the subject

should be contracted i.e. by telephone interview, personal interview, observation,

mail etc. here, in my survey, I have contacted the respondents through personal

interviews.

5. Questionnaire Design:

a) There are 12 questions in my questionnaire and I asked all these questions from

20 account holders of Standard Chartered Bank, Jalandhar.

C) Collecting the information

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After this, I have collected the information from the respondents with the help of

Questionnaire.

D) Data Analysis and Interpretation

The next step is to extract the pertinent findings from the collected data have

tabulated the collected data and developed frequency distributions.

Thus, the whole data was grouped aspect wise and was presented in tabular form.

Thus, frequencies and percentages were prepared to render impact of study.

E) Presentations of findings

This was the last step of survey.

LIMITATIONS OF THE STUDY:

Due to constraints of time and resources, the study is likely to suffer from certain

limitations. Some of these are mentioned here under so that the findings of the

study may be understood in a proper perspective.

The limitations of the study are:

Some of the respondents of the survey were unwilling to share information.

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The research was carried out on in-house customers. i.e. within the branch in the

small city of Punjab viz. Jalandhar so the response may vary by including the

respondents from other branches in other areas as well.

The research was carried out in a short period of 6 weeks as a part of summer

training. Therefore the sample size and other parameters were selected

accordingly so as to finish the work within the given time frame.

The information given by the respondents might be biased because some of them

might not be interested to give correct information.

INTRODUCTION TO BANKING SYSTEM

The world of banking has assumed a new dimension at dawn of the

21stcentury with the advent of tech banking, thereby lending the industry

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stamp of universality. In general, banking ay be classified as retail and

corporate banking. Retail banking, which is designed to meet the

requirements of individual customers and encourage their saving, includes

payment of utility bills, consumer loans, credit cards, Checking account and

the like. Corporate banking, on the other hand, caters to the needs of

corporate customers like bills discounting, opening letters of credit,

managing cash, etc.Metamorphic changes took place in the Indian financial

system during the eighties and nineties consequent began shaping up its

command earmarked ambitious plan for economic growth. Consequently, a

sea change in money and capital markets took place. Applications of

marketing concept in the banking sector were introduced to enhance the

customer satisfaction. The policy of privatization of banking services aims at

encouraging the competition in banking sector and introduction of financial

services. Consequently, services such as Demat, Internet Banking, Portfolio

Management, Venture Capital, etc., came into existence to cater to the

needs of public. An important agenda for every banker today is greater

operational efficiency and customer satisfaction. The new watchword for the

bank is ambitious: customer delight.

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The introduction to the marketing concept to banking sector can be traced

back to American Banking Association Conference of 1958. Bank marketing

can be defined as the part of management activity, which seems to direct

the flow of banking services profitability to the customers. The marketing

concept basically requires that there should be thorough understanding of

customers need and to learn about market it operates in. Further the market

is segmented so as to understand the requirements of the customer at a

profit to the bank.

DEFINITIONS:

According to Whitehead,

“A Bank is defined as an institution which collects surplus funds from the

public, safeguards them, and makes them available to the true owner when

required and also lends sums be their true owners to those who are indeed of

funds and can provide security.”

According to Kent says, A Bank is “an organization whose principal

operations are concerned with the accumulation of the temporarily idle

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money of the general public for the purpose of advances to others for

expenditures”.

According to Indian Banking Companies Act:

“Banking company is one which transacts the business of banking, which

means the accepting for the purpose of lending or investment of deposits of

money from the public repayable on demand or otherwise and withdrawal by

Cheque, draft, order or otherwise.”

The term bank in the modern times refers to an institution having

the following features:

1. It deals with money; it accepts deposits and advances loans.

2. It also deals with credit; it has the ability to expand its liabilities as to its

reserves.

3. It is commercial institution that creates demand deposits which serve as a

medium of exchange and, as a result, the banks manage the payment system

of the country.

So banks are like:

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“Oxygen for economy which is necessary for the generation and

management of the blood i.e. the finance of the economy and

circulates through the network of the bank i.e. the network of

branch”.

INTRODUCTION TO BANKING

The ancient banking system of India constituted of indigenous bankers.

They have been carrying on their age old banking operations in different

parts of the country under different names.

Then came commercial banking in 1770 with the establishment of the

first joint stock bank, named the Bank of Hindustan, by an English Agency

in Calcutta, but this bank failed in 1832. In fact, real beginning of modern

commercial banking in the country was made with the establishment of

the

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Bank of Bengal 1806, Later on, the Bank of Bombay and Bank of Madras

were also set up in 1840 and 1843 respectively. All these banks were

called Presidency Banks. In 1881, the first purely Indian Bank i.e. Ouch

Commercial Bank came into being. It was followed by the setting up of

Punjab National Bank in 1894.

The commercial banking system is divided into 2 categories.

Public Sector Banks

Private Sector Banks

STANDARD CHARTERED BANK

Standard Chartered – leading the way in Asia, Africa and the

Middle East Standard Chartered PLC is listed on both the London Stock

Exchange and the Hong Kong Stock Exchange and is consistently ranked

in the top 25 among FTSE-100 companies by market capitalization.

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Standard Chartered has a history of over 150 years in banking and

operates in many of the world's fastest-growing markets with an

extensive global network of over 1,400 branches (including subsidiaries,

associates and joint ventures) in over 50 countries in the Asia Pacific

Region, South Asia, the Middle East, Africa, the United Kingdom and the

Americas.

As one of the world's most international banks, Standard Chartered

employs almost 60,000 people, representing over 100 nationalities,

worldwide. This diversity lies at the heart of the Bank's values and

supports the Bank's growth as the world increasingly becomes one

market.

With strong organic growth supported by strategic alliances and

acquisitions and driven by its strengths in the balance and diversity of its

business, products, geography and people, Standard Chartered is well

positioned in the emerging trade corridors of Asia, Africa and the Middle

East.

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Standard Chartered derives over 90 per cent of profits from Asia, Africa

and the Middle East. Serving both Consumer and Wholesale Banking

customers worldwide, the Bank combines deep local knowledge with

global capability to offer a wide range of innovative products and services

as well as award winning solutions.

Trusted across its network for its standard of governance and corporate

responsibility, Standard Chartered takes a long term view of the

consequences of its actions to ensure that the Bank builds a sustainable

business through social inclusion, environmental protection and good

governance.

Standard Chartered is also committed to all its stakeholders by living its

values in its approach towards managing its people, exceeding

expectations of its customers, making a difference in communities and

working with regulators.

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History of Standard Chartered

Bank

The Standard Chartered Group was formed in 1969 through a merger of

two banks: The Standard Bank of British South Africa founded in 1863,

and the Chartered Bank of India, Australia and China, founded in 1853.

Both companies were keen to capitalize on the huge expansion of trade

and to earn the handsome profits to be made from financing the

movement of Europe to the East and to Africa.

The Chartered Bank:

Founded by James Wilson following the grant of a Royal Charter by

Queen Victoria in 1853

Chartered opened its first branches in Mumbai (Bombay), Calcutta and

Shanghai in 1858, followed by Hong Kong and Singapore in 1859

Traditional business was in cotton from Mumbai (Bombay), indigo

and tea from Calcutta, rice in Burma, sugar from Java, tobacco from

Sumatra, hemp in Manila and silk from Yokohama.

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Played a major role in the development of trade with the East which

Followed the opening of the Suez Canal in 1869, and the extension of

the telegraph to China in 1871

n 1957 Chartered Bank bought the Eastern Bank together with the

Ionian Bank’s Cyprus Branches. This established a presence in the gulf

The Standard Bank:

Founded in the Cape Province of South Africa in 1862 by John

Paterson. Commenced business in Port Elizabeth, South Africa, in

January 1863Was prominent in financing the development of the

diamond fields of Kimberley from 1867 and later extended its

network further north to the new town of Annenberg when Gold was

discovered there in 1885

Expanded in Southern, Central and Eastern Africa and by 1953 had

600 offices

In 1965, it merged with the Bank of West Africa expanding its

operations into Cameroon, Gambia, Ghana, Nigeria and Sierra Leone

In 1969, the decision was made by Chartered and by Standard to

undergo a friendly merger. All was going well until 1986, when Lloyds

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Bank of the United Kingdom made a hostile takeover bid for the Group.

When the bid was defeated, Standard Chartered entered a period of

change. Provisions had to be made against third world debt exposure and

loans to corporations and entrepreneurs who could not meet their

commitments. Standard Chartered began a series of divestments notably

in the United States and South Africa, and entered into a number of asset

sales. From the early 90s, Standard Chartered has focused on developing

its strong franchises in Asia, the Middle East and Africa using its

operations in the United Kingdom and North America to provide

customers with a bridge between these markets. Secondly, it would focus

on consumer, corporate and institutional banking, and on the provision n

of treasury services – areas in which the Group had particular strength

and expertise. In the new millennium we acquired Grind lays Bank from

the ANZ Group and the Chase Consumer Banking operations in Hong

Kong in 2000.

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STANDARD CHARTERED IN INDIA

The Chartered Bank opened its first overseas branch in India, at Kolkata, on

12 April 1858. Eight years later the Kolkata agent described the Bank's

credit locally as splendid and its business as flourishing, particularly the

substantial turnover in rice bills with the leading Arab firms. When The

Chartered Bank first established itself in India, Kolkata was the most

important commercial city, and was the centre of the jute and indigo trades.

With the growth of the cotton trade and the opening of the Suez Canal in

1869, Bombay took over from Kolkata as India's main trade centre. Today

the Bank's branches and sub-branches in India are directed and

administered from Mumbai (Bombay) with Kolkata remaining an important

trading and banking centre.

Standard Chartered Bank in India is the largest international banking Group

in India. The bank having a combined customer base of 2.4 million in retail

banking and over 1200 corporate customers.

The key businesses of Standard Chartered Bank in India include consumer banking - primarily

credit cards, mortgages, personal loans and wealth management - and - wholesale banking,

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where the Bank specializes in the provision of cash management, trade, finance, treasury and

custody services.

Standard Chartered India was the first to issue first global credit card in India,

the first to issue Photo card, the first Picture Card and was the first credit card

some other product innovations of Standard Chartered Bank in India include

the 'Sapnay' credit card, the international debit card that provides free access

to over 1500 Visa ATM's, a first in the banking industry, Mileage, an overdraft

facility against the security of a car and Smart Credit, a personal line of credit

for salaried customers.

Products and services offered by Standard Chartered Bank

India

Personal Banking:

Personal Banking Plans

Accounts

Debit Cards

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Prepaid Cards

Credit Cards

Loans

Investment Services

Insurance

Online Services

Special Offers

NRI Accounts

Commercial Banking

SME Banking

Term Loan

Express Trade

Trade Services & Working Capital

Business Installment Loan

International Trade Account

Loan/Overdraft Against Property

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FOREX

“Your business is growing we provide international support”At

Standard Chartered, we know that doing business in today's economic

climate is challenging - and that situations and business needs can

change overnight.

DATA ANALYSIS AND ITS INTERPRETATION

1. Are you aware of deposit accounts provided by StandardChartered Bank ?Response %age of respondentsYes 100%

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No 00%

%age of respondents

Yes

No

Interpretation :Standard Chartered is one of the major overseas bank in India. From theabove graph it is clear that all the 100% respondents are aware of StandardChartered Bank.

2. How did you get the know about Standard Chartered Bank ?

Particulars %age of RespondentsWord of Mouth 10%

Advertisement /Media 70%26

Executive /Telecaller from the bank 05%Friends/Relatives 15%

%age of Respondents

10%

70%

5%15%

Word of Mouth

Advertisement /Media

Executive /Telecallerfrom the bank

Friends/Relatives

Interpretation :From the above graph it is depicted that majority of the respondents havecome to know about Standard Chartered Bank through advertisements/media sources i.e. 70%. 15% respondents have come to know aboutStandard Chartered Bank through friends /relatives, 10% through word ofmouth and remaining 5% respondents through executive /tellecaller from thebank.

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3. Which type of deposit account do you have in Standard CharteredBank ?

Response %age of RespondentsSaving Account 80%Current Account 15%Others 05%

%age of Respondents

80%

15%

5%

Saving Account

Current Account

Others

Interpretation :From the above graph it clear that majority (80%)of the respondents havesaving account with Standard Chartered Bank while 15% respondents havecurrent account because they belong to business community. Only 5%

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respondents have other deposits account in Standard Chartered Bank.4. Are you aware of following facilities provided by StandardChartered Bank in your account ?Facilities No. of RespondentsFree Internet Banking 21%Free cheque book 40%Free Phone Banking 16%Free Mobile Banking 13%Free Door Step Facility 10%

0

0.05

0.1

0.15

0.2

0.25

0.3

0.35

0.4

1 2 3 4 5 6

No. of Respondents

Facilities

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Interpretation :Majority of the respondents are provided free cheque book facilityfollowed by other services like mobile banking, internet banking, freestatements/cheque book etc.

5. Do you face any problem or you are not properly treated inStandard Chartered Bank ?Response %age of RespondentsYes 5%No 95%Can’t Say 0%5%95%0%Yes No Can’t Say

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Interpretation :From the above graph it is clear that majority of the respondents are notfacing any problem and they are well treated in Standard Chartered Bank.Only 5% respondents said that they are facing some problems.

6. Are you satisfied with your deposit account in StandardChartered Bank. ?Response %age of RespondentsYes 90%No 10%90%

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10%Yes NoINTERPRETATION :From the above pie chart it is clear that majority (90%) of the respondentsare satisfied with their present deposit account in Standard Chartered Bank.90% of the respondents have different deposit account such as Savings,Current, Term Deposits etc. While 10% of the respondents are not satisfiedwith their deposit account in Standard Chartered Bank. They are willing toshift to another bank.

7. Why you have opened account with Standard Chartered Bank ?Responses %age of RespondentsNetwork 25%Quick Services 50%Brand Name 15%

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One stop bank 10%25%50%15%10%Network Quick Services Brand Name One stop bankINTERPRETATION:The table shows 25% customers have opened their deposit account inStandard Chartered Bank due to good network of branches. 50% customershave opened their account due to quality of services provided by the Bank.Only 15% customers have opened their account due to brand name. Other10% customer’s response to one stop bank reason. Standard Chartered Bankis a one stop bank because it provides all modern banking facilities andproducts to customers under one roof.

FINDINGS AND SUGGESTIONS

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FINDINGS OF THE STUDY_ Standard Chartered is one of the major overseas bank in India. Fromthe above study it is clear that all the 100% respondents are aware ofStandard Chartered Bank._ Majority of the respondents have come to know about StandardChartered Bank through advertisements /media sources._ From the above study it clear that majority of the respondents havesaving account with Standard Chartered Bank_ Majority of the respondents are provided free cheque book facilityfollowed by other services like mobile banking, internet banking, freestatements/cheque book etc._ From the above study it is clear that majority of the respondents arenot facing any problem and they are well treated in StandardChartered Bank._ Majority of the respondents are satisfied with their present depositaccount in Standard Chartered Bank. 90% of the respondents have

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different deposit account such as Savings, Current, Term Deposits etc.While 10% of the respondents are not satisfied with their depositaccount in Standard Chartered Bank. They are willing to shift toanother bank._ The study shows people have opened their deposit account inStandard Chartered Bank due to good network of branches, brandname, modern banking facilities._ The above study shows majority of customers spent only 5 to 10minutes to perform only transaction in the Bank_ From the study it is clear that 85% customers would like torecommend the name of Standard Chartered Bank to other persons._ Majority of the respondents are satisfied with knowledge of bankemployees regarding various deposit accounts of Standard CharteredBank._ From the above study it is clear that majority of the respondents are

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satisfied with the overall performance of Standard Chartered Bank.SUGGESTIONS_ Standard Chartered Bank should increase the number of branches andATMs._ The bank should bring out new products and schemes at time-to-timeso that more people can be attracted._ Even some gifts and prizes may be offered to the customers for theirretention._ The charges for non-maintenance of balance are the higher, so theyshould be reduced._ Even the charges for account opening are high, so they should also bereduced._ More exposure is required through various resources selecting theright type of media. E.g advertisements, giving broachers.

CONCLUSION

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CONCLUSIONThe face of banking is changing rapidly. The competition and challenges inIndian banking sector is increasing day by day. I made this project on thedeposits provided by Standard Chartered Bank. From the above study Iconcluded that the deposits of Standard Chartered Bank are increasing whichshows a positive sign in favour of bank. The deposits account holders ofStandard Chartered Bank are satisfied with the bank. The bank is alsoproviding customer friendly facilities to the account holders of StandardChartered.Standard Chartered Bank is one of the oldest foreign banks in India.Standard Chartered Bank has to take necessary initiatives in order toincrease customer base. The bank should increase number of branches andinstall ATMs at the prime locations of Jalandhar. The bank can alsointroduce gifts and prizes from time to time. The accounting opening

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charges for current and saving account should be reduced, so more and morecustomers can join Standard Chartered Bank.From the above study, I can conclude that Standard Chartered Bank hasmaintained excellent position in the market and the customers are satisfiedwith the overall performance of Standard Chartered Bank. So, we can saythat Standard Chartered Bank is well known for understanding the customerneeds in the modern era of banking.

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BIBLIOGRAPHY

BIBLIOGRAPHYBooks :_ P. N. Varshney, Indian Financial System And Commercial Banking,published by Sultan Chand & Sons, Edition-1999_ Dr. R. R. Paul : Banking & International Trade, Kalyani Publishers,Edition -1996Websites :_ www.standardchartered.com_ www.google.com

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ANNEXURE

QUESTIONNAIRE

1. Are you aware of deposit accounts provided by StandardChartered Bank ?Yes _ No _2. How did you get the know about Standard Chartered Bank ?Word of Mouth _ Advertisement /Media _Bank Executive /Telecaller _ Friends/Relatives _3. Which type of deposit account do you have in Standard CharteredBank ?Saving Account _ Current Account _ Others _4. Are you aware of following facilities provided by StandardChartered Bank in your account ?Free Internet Banking _ Free cheque book _Free Phone Banking _ Free Mobile Banking _Free Door Step Facility _

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5. Do you face any problem or you are not properly treated inStandard Chartered Bank ?Yes _ No _ Can’t Say _6. Are you satisfied with your deposit account in StandardChartered Bank. ?Yes _ No _7. Why you have opened account with Standard Chartered Bank ?Network _ Quick Services _Brand Name _ One stop bank _8. How much time you spent for any transaction in StandardChartered Bank ?5 to 10 minutes _ 15 to 20 minutes _More than that _9. Would you like to recommend the name of Standard CharteredBank to your known person ?Yes _ No _ Can’t Say _10. How do you rate the attitude of staff of Standard Chartered Banktowards customers ?Highly Satisfied _ Satisfied _Dissatisfied _ Highly Dissatisfied _

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11. How do you rate the knowledge of bank employees regardingvarious deposits accounts and services ?Highly Satisfied _ Satisfied _Dissatisfied _ Highly Dissatisfied _12. Are you satisfied with the overall performance of StandardChartered Bank?Yes _ No _

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