a research project urmila

7/30/2019 A Research Project Urmila

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A RESEARCH PROJECT

ON

COMPARATIVE STUDY OFSAVING-A/C

AXIS BANK HDFC BANK& ICICI BANK

PROJECT UNDERTAKEN AT

Vindhya Institute of Technology, Satna M.P (VITS)

YEAR: 2010-11

SUBMITTED BY:- GUIDED:-BY SUBMITTED:-TO

URMILA SEN Mr. GHOSH SIR Mr. SANKALP SHUKLA

MBA IV SEM. &

Mr. RUDRA PRATAP SINGH


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DECLARATIONI hereby state that this work is a result of study on the Comparativestudy of SAVINGS a/c of AXIS bank, ICICI bank and HDFCbank. The findings & conclusion expressed in this research reportaregenuine and for academic purpose. It is my own and it has neitherbeen submitted nor published anywhere before any resemblance toearlier project or research work purely coincidental.It is totally based on my hard work and creativity.

DATE:- URMILA SEN

PLACE:- MBA IVSEM.

A.P.S. UNIVERSITY REWA (M.P.)

V.I.S.T. COLLEGE SATNA (M.P.)


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ACKNOWLEDGEMENT

With great pleasure, I express my heartiest thanks to Mr. GHOSH SIR forgiving me an opportunity to work under his guidance. he gave me theguidelines that helped me a lot in the preparation of my research report.

I express my thanks to all the respondents to whom I visited, for theirsupport and valuable information, which helped me in the completion of myresearch project work.

I express my sincere gratitude to my parents, friends and all others who havedirectly or indirectly inspired and helped me to complete my project withunremitting zeal and enthusiasm.

URMILA SEN

MBA IVSEM.

V.I.T.S. SATNA (M.P.)


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CERTIFICATEThis is to certify that the major Research Report entitled A COMPARATIVE STUDY OF

SAVINGS ACCOUNT OF AXIS BANK, ICICI BANK,& HDFC BANK AT SATNA

which is submitted by URMILA SEN for partial fulfillment for the degree of MBA (FINANCE

& MARKETING) awarded by A.P.S. UNIVERSITY, SATNA (M.P), has been duly completed

as a record of bona fide work under my supervision and guidance.

Date:

Place: SATNA VITS , SATNA


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CONTENTS

1) Introduction2) Objective of the study3) About the organization4) Research Design- Research Design- Sampling- Data Collection Methods5) Comparison with Competitors6) Limitations and Findings7) Recommendations and Suggestions8) Conclusion


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SUMMARY OF THE STUDYThe research report throws light on the products and service so offered byAxis Bank. In current scenario customers are very much aware of their moneyinvestment. They evaluate all the advantages and disadvantages of the

products and services provided by the banks. After being fully satisfied only,they invest their money. So, during this Research report, I have tried to showall aspects which customers keep in mind while choosing a bank and its

products or services; and what they want from the side of the bank.The main points included with in the project are :

(1) History and performance of the bank.

(2) Products and services offered by the bank.

(3) Potential of bank in the market i.e. its recognition by theCustomers.

(4) Aspects considered by the customers while establishing anyrelationship with the bank.


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OBJECTIVES OF THE STUDY1> Partial fulfillment of MBA degree course curriculum.2>TO know about savings account banking.3>TO know about the scope of savings account banking.4>TO know about the features in savings account banks.5>TO compare the products of competitor bank.6>TO compare customer satisfaction among three bank.


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INTRODUCTION OF THE ORGANIZATIONWHAT IS BANKING:-There is no unanimity among the economists about the origin of the wordBA N K I N G . The word B A N K is itself derived from the Greekword B A N Q U E i.e. a bench. The German word B A N C meansa joint stock firm. In modern times, commercial banking occupies quite animportant place in the

framework of every economy because of the continuing challenge itpresents to those who are responsible for managing the affairs of the nationsbanks and to those who observe and study their performance.

EVOLUTION OF COMMERCIAL BANKIN :-As public enterprise, banking, as we know it today, made its firstbeginning around the middle of the twelfth century in Italy. The Bank ofVenice (1157)was the fist public banking institution. Following itsestablishment, were established Bank of Barcelona (1401), Bank of Geneva(1407). The famous Bank of Amsterdam was founded in 1609.It was as popular as Bank of England now. Not with standing theestablishment of the Bank of England (1694), the development ofmodern commercial banking institutions has to wait for another century and

four decades until the passage of the BANKING ACT,1 8 3 3 whichprovided for the establishment of the joint Stock Banks. It was the firstbanking regulation act introduced by the state.

COMMERCIAL BANKING IN INDIA :-The Calcutta Bengal Bank (1838) was the first bank of India, which wasrenamed as Presidency Bank later on. The English managed it. Now it isrenamed as State bank of India. The first of limited liability managed byIndians was Oudh Commercial Bank founded in 1881. Subsequently, thePunjab National Bank was established in 1894. Swadeshi movement, which

began in 1906, encouraged the formation of a number of commercial banks.But banking crisis during 1913-1917 and failure of 588 banks in various statesduring the decade ending in 1949 underlined the need for regulating andcontrolling commercial banks. The Banking Companies (InspectionOrdinance) was issued in January 1946. The Banking Companies (Restrictionof Branches) Act was passed in February 1949, which was subsequentlyamended to read Banking Regulation Act.


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The RESERVE BANK OF INDIA was established under RBI Act,1934 and nationalized on 01/01/1949

STATE BANK OF INDIA is the Indias biggest bank and the largest bankin the world by the number of branches (more than 68000 branches in Indiaand overseas). As per a report of December 2001 in India consists of 294scheduled banks (including foreign banks) out of which2 2 3 are in publicsector of which1 9 6 are regional rural banks. At end of June, 1969 deposits ofthese banks aggregated Rs. 4,646 crore. In December 2001, this hadincreased to Rs. 882,373 crores. Sector-had operation overseas with 92

branches (including 55 offshore units),4 joint ventures and 12 subsidiariesand 14 representative offices.

CURRENT SCENARIOThe industry currently is in a transition phase. On the one hand the

PSBs(Public Sector Bank) which are main stay of Indian Banking System,are in the process of shedding their flab in terms of excessive manpower,excessive Non Performing Assets (NPAs) andexcessive governmental equity, while on the other hand Private Sector Banksare consolidating themselves although merger and acquisitions.PSBs whichcurrently accounted for more than 78% of total banking industry assets aresaddled with NPAs (a mind boggling Rs. 830 billion in 2000), failingrevenues from traditional sources, lack of modern technology and massivework force while the new Private Sector Banks are forging ahead and

rewriting the traditional banking business model by way of their sheerinnovation and service.The PSBs are of course currently working out challenging strategies even as20% of their massive employee strength has dwindled in the wake ofsuccessful Voluntary Retirement Schemes (VRS). The private playershowever cant match the PSBs great reach great size and access to low costdeposits? Therefore one of the means for them to combat the PSBs has beenthrough the merger and acquisition route. In the near term, the low interestrate scenario is likely to affect the spreads of majors.This is likely to results in greater focus on better management procedures

consequently, only banks that strive hard to increase their share of free-basedrevenues are likely to do better in the future.


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ABOUT AXIS BANKAxis Bank was the first of the new private banks to have began operations

in 1994, after the Government of India allowed new private banks to beestablished. The Bank was promoted jointly by the Administrator of thespecified undertaking of the Unit Trust of India (UTI - I), Life InsuranceCorporation of India (LIC) and General Insurance Corporation of India (GIC)and other PSU insurance companies, i.e. National InsuranceCompany Ltd., The New India Assurance Company Ltd., The OrientalInsurance Company Ltd. and United India Insurance Company Ltd.The Bank today is capitalized to the extent of Rs. 358.56 crores with the

public holding (other than promoters) at 57.60%.The Bank's Registered Office is at Ahmedabad and its Central Office islocated at Mumbai. Presently, the Bank has a very wide network of more than701 branch offices and Extension Counters. The Bank has a network of over2854 ATMs providing 24 hrs a day banking convenience to its customers.This is one of the largest ATM networks in the country.The Bank has strengths in both retail and corporate banking and is committedto adopting the best industry practices internationally in order to achieveexcellence.

T H E I R M I S S I O N

(1) Customer Service and Product Innovation tuned to diverse needs ofindividual and corporate clientele.

(2)Continuous technology up gradation while maintaining human values.(3) Progressiveg lobalization and achieving international standards.(4)Efficiency and effectiveness built on ethical practices.

C O R E V A L U E S(1) Customer Satisfactionth rough- Providing quality service effectively andefficiently- "Smile, it enhances the face value" is a service quality stressed on-Periodic Customer Service Audits .

(2)Maximization of Stakeholder value .(3)Success through Teamwork, Integrity and People .


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O BJEC T IV ES O F AXIS BAN K : -1.To provide the various facilities to the account holders as well as the general

people which they could not get before.

2 . Axis bank aims to provide customer world class products atcompetitive price along with the technology that make their bankingeffortless.3 . The objective of Axis bank is not customer satisfaction but customerdelight.4 . The objective of Axis bank is not only making profit but also to

penetrate the market to make good image in the market.5 . Axis bank also wants to make aware to the people about the variousschemes available like current accounts, saving accounts, home loans, carloans, two wheelers loans etc. by the seminars on various topics related tothe finance and by the help of advertising a face-to-face communication .

FUNCTIONSTo provide loans.To provide finance in the form of equity.To sponsor and underwrite new issues of share and securities.To make fund available for investment.To guarantee loans from private investment sources.To provide loans in foreign currency.

To furnish managerial, technical and administrative services to the Indianindustries.

To serve as a merchant banker.To provide lease financing.To work as a trustee to setup mutual fund.


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POLICIES OF AXIS BANK(1) COMPENSATION POLICY

The objective of this policy is to establish a system whereby the Bank

compensates the customer for any financial loss he/she might incur due todeficiency in service on the part of the Bank or any act of omission orcommission directly attributable to the Bank subject to the terms prescribedunder Paragraphs on 'Award of Compensation' and 'Force Majeure' at the end.The Policy is based on principles of transparency and fairness in the treatmentof their customers. The Policy prescribes compensation only for financiallosses which customers have incurred due to deficiency in the services offered

by the Bank which can be measured directly and limited to compensationspecified for respective service as given below. As such, the commitmentsunder this Policy are without prejudices to any of the rights the

Bank has/will have in defending its position before any forum duly constitutedto adjudicate the banker-customer disputes.(2) POLICY OF BANK DEPOSITS

One of the important functions of the Bank is to accept deposits from thepublic for the purpose of lending. In fact, depositors are the majorstakeholders of the Banking System. The depositors and their interests formthe key area of the regulatory framework for banking in India and this has

been enshrined in the Banking Regulation Act, 1949. The Reserve Bank ofIndia is empowered to issue directives / advices on interest rates on deposits

and other aspects regarding conduct of deposit accounts from time to time.With liberalization in the financial system and deregulation of interest rates,banks are now free. to formulate deposit products within the broad guidelinesissued by RBI.. The document recognizes the rights of depositors and aims atdissemination of information with regard to various aspects of acceptance ofdeposits from the members of the public, conduct and operations of variousdeposits accounts, payment of interest on various deposit accounts, closure ofdeposit accounts, method of disposal of deposits of deceased depositors, etc.,for the benefit of customers. It is expected that this document will impartgreater transparency in dealing with the individual customers and create

awareness among customers of their rights. The ultimate objective is that thecustomer will get services they are rightfully entitled to receive withoutdemand. While adopting this policy, the bank reiterates its commitments toindividual customers outlined in Bankers' Fair Practice Code of Indian Banks'Association. This document is a broad framework under which the rights ofcommon depositors are recognized.


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PRODUCTS OFFERED BY AXIS BANKSAVINGS ACCOUNT

(1)ZERO BALANCE SAVINGS ACCOUNT(2)EASYACCESS SAVINGS ACCOUNT(3)PRIME SAVINGS ACCOUNT

(4)SALARY POWER

(5)POWER SALUTE

(6)SENIOR CITIZENS ACCOUNT

(7)WOMENS SAVINGS ACCOUNT

(8)NGO SAVINGS ACCOUNT(9)PENSION SAVINGS ACCOUNT

CURRENT ACCOUNT

NORMAL CURRENT ACCOUNTBUSINESS ADVANTAGE ACCOUNT

BUSINESS CLASSIC ACCOUNT

BUSINESS PRIVILEGE ACCOUNT

CHANNEL ONE

CURRENT ACCOUNT FOR GOVERNMENT ORGANIZATIONS

CURRENT ACCOUNT FOR BANKS

CURRENT ACCOUNT FOR BANKS & R EAL ESTATES

CAPITAL MARKET CURRENT ACCOUNT

KRISHI CURRENT ACCOUNTBUSINESS GLOBAL CURRENT ACCOUNT

CLUB 50 CURRENT ACCOUNT

SHIPPING AND MARITIME CURRENT ACCOUNT

INLAND ROAD TRANSPORT CURRENT ACCOUNT

TRAVEL, TOURISM AND HOSPITALITY CURRENT ACCOUNT

NRI ACCOUNT

NRE SAVINGS ACCOUNTNRO SAVINGS ACCOUNT

NRI PRIME ACCOUNTNRI PRIORITYPIS ACCOUNTNRE SALARY ACCOUNTRFC ACCOUNT PRIORITY BANKINGRESIDENTS

NR IDEPOSITS FIXED DEPOSIT


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RECURRING DEPOSIT

ENCASH 24

TAX SAVER FIXED DEPOSITLOANS

HOME LOAN

PERSONAL LOAN

LOAN AGAINST PROPERTY

LOAN AGAINST SECURITY

CAR LOAN

STUDY LOAN

CONSUMER LOANCREDIT CARDS

PRIORITY DEBIT CARD

DEBIT CARD

GOLD DEBIT CARD

GOLD PLUS DEBIT CARD

BUSINESS GOLD DEBIT CARD

REMMITANCE CARD

TRAVEL CURRENCY CARD

REWARDS CARD

MEAL CARD

GIFT CARD

ANNUITY CARD

INVESTMENTSMOHUR GOLD

MUTUAL FUNDS

ONLINE TRADING

DEPOSITORY SERVICES

EDEPOSITORY SERVICESINSURANCE

LIFE INSURANCE

HEALTH INSURANCE

PERSONAL ACCIDENT

HOME

CRITICAL ILLNESS


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CATAGORIES OF SAVINGS ACCOUNT

There are various types of Savings accounts that are being offered by theAxis bank.1) ZERO BALANCE SAVINGS ACCOUNT

At Axis Bank it has been their constant endeavor to create productsspecifically catering to the customers needs. The account while offering you

a whole range of services also addresses the latent need of having an accountwithout the hassle of maintaining an average quarterly balance. It offerscertain featuresNo Average Quarterly Balance requirement Free International Debit Card with an Accidental Insurance cover up to Rs2

lakhs (charges for the primary holder are waived) Free mobile banking facility Access through more than 675 branches and more than 2800 ATMs

At-Par cheque facility with the clearing limit of Rs 50,000 24x7T e le b a n k in g & Internet banking Free quarterly statements2) NON-RESIDENT (EXTERNAL) NRE SAVINGS ACCOUNT

Any person resident outside India may open NRE account. This accountpermits a NRI to hold and maintain foreign currency earnings in Indianrupees. The principal and interest earned on these balances are freelyrepatriable. Whether you are a student, a professional, a salaried employee oran entrepreneur, this account will meet all your banking needsFeatures

Change of Resident Status - In the event of the NRI returning fromoverseas on a permanent basis the NRE Accounts is to be redesignated asresident accounts or the funds held in these accounts may be transferred toRFC accounts if the account holder is eligible for maintaining RFC account.Nomination Facility - Nomination can be in favor of resident or non-resident Repatriation of funds by nomineeRemittance abroad by Non-Resident Nominee: Banks may allow remittance offunds abroad, or funds may be credited to NRE or FCNR deposits.

Remittances abroad by Resident Nominee: Funds are to be credited to theordinary SB account. If the nominee wants to remit funds outside India formeeting the liabilities of the deceased, should obtain permission from RBI.3) EASY ACCESS SAVINGS

The account is an endeavor by the Bank to understand the consumers' needsand redefine banking to suit their requirements for a truly comfortable

banking experience. Easy Access Savings Account gives them instant accessto


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their money anywhere, anytime. Possessing a range of unmatched features, ithas been devised to better suit the convenience of their eclectic client base.Features:

At Par Cheque Book - As an Easy Access Savings Account Holder, thecutomers receive the "At-par" chequebook. They can encash these cheques aslocal cheques at any of the 257 centers where the bank has a presence, at noextra cost. Drafts are now history. ATM Network Easy Access - Savings Account also entitles them to an

International Debit Card with which they can access their account anytimeat allthe ATMs - both, Visa enabled and the partner banks - across thecountry. Withdrawals and deposits (money as well as cheques) are possiblewith their Debit Card. And unlike most other ATMs, an Axis Bank ATMallows them to withdraw upto Rs 40,000 per day.

Anywhere Banking - Customer can transact through any of their branchoffices all of which are interconnected for their banking convenience.Transactions like cash deposits, cash withdrawal, transfers and clearingdeposits can all be carried out wherever they happen to be. Telebanking - Their Telebanking service provides customer instant accessto their savings account. It offers them a wide range of services over the

phone such as Account Information, Balance Inquiry, Transaction Details,Status of their Cheque (available only during branch business hours) and evenStatement of Account on Fax. IConnect - The idea of "your Bank on your desktop" is now a reality with

iConnect. Customer can lookup the status of their savings account, requestnew cheque book, undertake a range of financial transactions, avail financialadvisory services, get information on mutual funds and shop online by justclicking the mouse. Mobile Banking - Mobile Banking enables customer bank with us throughtheir mobile phone irrespective of where they are. Avail facilities like balanceinquiry, debit or credit alerts, last three transaction details and cheque status. Account Statement - Quarterly statements are delivered free of cost.Customers can also avail the facility of monthly online statements through

iConnect ( their Internet banking channel). Quarterly Interest - Every quarter, interest would be credited at the rate of3.5% per annum in their account.


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4) PRIME SAVINGS ACCOUNT

At Axis Bank, they have always strived to pace their products with thegrowing needs of their customers. The Prime Savings account has therefore

been created with specific financial requirements in mind.

Its features Wider accessibil ity - As a Prime Savings account holder, one enjoys accessto a wide network of over 671 branches and one of the largest ATM networksin India gives easy access to their account from almost any corner of thecountry. Greater convenience - To simplify daily banking, Prime Savings accountcomes with an international photo-signature Debit Card. This unique cardcomes with withdrawal limit of Rs. 40,000 per day, facilitating transfer offunds, deposits of cash/cheques and payment of insurance premium (LIC).

The Debit Card also comes with a comprehensive insurance cover inclusive ofzero lost card liability, purchase protection and personal accident insurance upto Rs. 2 lakhs. [To keep their personal accident insurance cover activated, youshould have made a purchase transaction in 365 days prior to the day of theincident & should have maintained an average quarterly balance of Rs 5,000(urban & metropolitan branches) or Rs 2,500 (rural & semi-urban branches) asthe case may be in the two quarters before the date of the incident.] More comfort - Through their24 hr Internet Banking and Tele Bankingservices, you can enjoy the ease of banking from home or office. Throughthese comprehensive services, you can access a range of facilities including

online funds transfer, requests for a new chequebook, Financial AdvisoryServices (FAS), online shopping and information on mutual funds. Enhanced privileges - The Prime Savings Account eases the bankingexperience by providing them a passbook and monthly statement of account tokeep them updated on all their transactions and assist them better in managingtheir finances. Added speed - Through the 'At Par' cheque facility, they have the unique

advantage to encash their cheques as a local cheque at more than 330 centerswhere the bank has a presence at no extra cost. In addition the account

enables them to issue cheques up to Rs. 1 lakh, which will be treated as 'AtPar' across these locations. They can avail of all these services with aminimum average balance of Rs 25,000 in metro/urban/semi-urban centersand Rs 10,000 in rural centers.


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5) SALARY SAVINGS ACCOUNT

At AXIS bank they know how important employee satisfaction is for anorganization to grow to its full potential. Which is why they have tailoredtheir Salary Savings Account not only to be a convenient way for people tomanage salaries (across various centers, through their centralized database),

but also provide their employees with a range of value added benefits.Salary Savings Account comes with a host of facilities that give theiremployees access to the complete gamut of banking services (includingoverdrafts, loans and zero-balance requirements) on a preferential basis,making it the perfect incentive for their employees.6) SMART PRIVILEGE ACCOUNT

In today's busy world it's tough being a workingwoman. Right from shuttlingbetween a job and family to taking care of her finances she has to be on herheels all the time. Keeping this ideal in mind, Axis Bank has designed a

savings account best suited for the woman of today. Now with the SmartPrivilege Account they can manage their money, their life and enjoy a host oflifestyle privileges as well. What's interesting is that the Smart PrivilegeAccount ensures that they have enough time for all those important things inlife.Features

Jewellery insurance on debit card - The photo signature international debitcard comes a host of enhanced privileges:- Jewellery Insurance- Inbuilt Jewellery Insurance with card

- Protection against loss of Jewellery due to burglary or fire while athome up to a limit of Rs. 50,000/-- All risks covered at home

Free 5 ATM transactions per quarter at Non-Axis Bank ATMsWaiver of 2.5% Petro surchargeIssuance charge of Rs. 50/- & Annual Charges of Rs. 150/- plusservice taxEnhanced Accidental Insurance up to Rs. 3 lakhs [To keep their

personal accident insurance cover activated, you should have made apurchase transaction in 365 days prior to the day of the incident &should have maintained an average quarterly balance of Rs 5,000(urban & metropolitan branches) or Rs 2,500 (rural & semi-urban

branches) as the case may be in the two quarters before the date of theincident.]


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Dedicated Relationship Manager - A Dedicated Relationship Manager willbe their one point contact at the branch for all their banking transactions thusensuring that they would neither have to move from one counter to the othernor stand in queues to await their turn. Zero balance minor account - Imbibe the significance of regular savings inyour child. The Zero Balance Minor Savings Account is a unique feature thatall account holders can open for their children.Features of Zero balance Minor account

No maintenance chargesDebit card offered to the minor above the age of 12 years,who can sign uniformly

-Daily withdrawal limits of Rs 1,500 at ATMs-Daily spend limits of Rs 1,000 at merchant outlets

Free Monthly Statement clubbed with the statement of the Smart Privilege

account of the mother.At-par cheque book at a nominal cost

Round-the-Clock access through ATMs - There could be a time in theirlife when at 3 am they could require cash. With the round-the-clock accessthey can withdraw cash up to Rs. 40,000 per day, deposit cash/cheques,transfer funds, print a mini statement and pay insurance premiums (LIC), allthis through one of the largest ATM networks in the country. Anywhere Banking - Imagine being in some other city and still havecomplete access to all their transaction needs. You are a customer of the bank

rather than limited to being a customer of the branch. So even if you aretraveling, you can access your account easily from any of the 600 Axis Bankoffices spread over 350 cities across the country. At-par cheque facility Their cheque will be treated as a local chequewithin the vast Axis Bank network of 600 offices across 350 cities in India. Itfrees them from the hassles of getting a Demand Draft issued. Monthly Account Statement Additional discounts on loans IConnectTM - The Complete online banking experience: Its the age of Wi -

Fi. All the banking needs should be on the fingertips, with i-connect they cancheck their account status, transfer funds, place online request for a newcheque book and many more features without even having to visit an AxisBank branch. Financial Advisory Services - Their Financial Advisor will assist then withtheir financial planning and help them to earn maximum returns on theirsavings.


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Discount on Retail Purchases - Just live the feeling of walking into a storeand getting amazing discounts not available to others. As they are valuedcustomerof the bank, they shall endeavor to provide them with discounts atvarious outlets, periodically. Smart advantage - Smart Advantage is an exclusive insurance coverspeciallydesigned for the holders of Special Women's Account that coverswoman related diseases. This insurance protects the woman against the risk ofserious illness. It gives the policyholder the security of knowing that aguaranteed cash sum will be paid in case she is diagnosed with a life-threatening illness. The insurance is available at a nominal premium toexisting Special Women's Account holders.7) SENIOR CITIZENS ACCOUNT

Axis Bank's Senior Citizen Savings Account has been designed keeping inmind the fact that a senior citizen's banking requirements are wholly different

and require special consideration.Features: Dedicated Relationship Managers - Their dedicated relationship managersare only a phone call away. They can help the customer with all of their

banking needs. Be it a simple query or helping them to manage their finances. Free At-par Cheque book - As there "Senior Privilege" Savings Accountholder, customer will receive free "At-par" chequebook, which empowersthem to encash their cheques as local cheques at any of the Axis Bank branchcenter. Free International Visa Debit cards for the primary and the joint accountholders - A "Senior Privilege" Savings Account with Axis Bank entitles themto a free International Debit card, which enables them to access their accountanytime at more than 2764 ATMs across the country. They can withdraw anddeposit money and cheques with their debit card. The daily withdrawal limitin an Axis bank is a high Rs 40,000. They can use their debit card to make

purchases at merchant establishment.A unique security feature to help safeguard their hard earned money is their

photograph and signature on the face of their debit card. All banks do notfollow this feature.

Free Monthly Statement of Accounts/Free Passbook - As their privilegedcustomer, they would be entitled to a monthly statement of account.Thestatement would give them detailed information on daily transactions withtheir closing balances. They can also opt for passbook facility, at noadditional cost.


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Free Issuance of Pay Orders or Demand Drafts drawn on Axis Bankbranches - Get commission-free Demand Drafts and Pay Orders from theirbranches drawn on Axis Bank branch. Free Inward Remittances - Funds remitted by their near and dear ones inabroad get to them through their correspondent banks for free. Free Outward Remittances - Once a year remitting their money out of Indiais possible for free once a year through their correspondent banks. Faster Credits to Foreign Cheques - Funds remitted by their near and dearones abroad now get to them faster than ever. Free Cheque pickup and Cash pick up services - Extended cash andcheque pickup services are provided by them free of cost. They can also havecash delivered at their residence at a nominal charge of Rs 50 per delivery. Anywhere Banking - Make transactions like cash deposits, cash withdrawal,transfers and clearing deposits from any of their branches, all of which are

interconnected for their banking convenience. Telebanking - Their Telebanking service provides them with instant accessto their account. A wide range of services such as Account Information,Balance enquiry, Transaction Details, Status of their Cheques (Available onlyduring branch business hours) and Statement of Account on Fax can beavailed over the phone. Free Mobile Banking - Mobile banking enables you to bank with us throughtheir mobile phone irrespective of where you are. Avail the facility of balanceenquiry, debit or credit alerts, last three transaction details and cheque status

IConnect - The concept of "your Bank on your Desktop" is now a realitywith iConnect. They can look-up the status of their account, request newcheque book, undertake a range of financial transactions, avail financialadvisory services, get information on mutual funds and shop online by justclicking the mouse. Customized Loan Offerings - Loans against Fixed Deposits -up to 95% ofthe FD amt at an interest rate of 1% over the rate of interest of the FD.

NSCs/KVPs/LIC Policy - the rate of interest 1% less than other customers andno processing fees and no pre payment penalty.

Complimentary Financial Planning - Everyone has diverse needs based ontheir situations, therefore requiring customized solutions. With the help oftheir complimentary investment planning, you will know exactly what to dowith their money to realize their financial objectives. Silver Health - Medical Insurance for Senior Citizens - Entry age is 70years. The medical test (mandatory) is carried out Free of cost only for SeniorPrivilege.


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8) DEFENCE SALARY ACCOUNT

Defence Salary Account from Axis Bank is a product designed keeping inmind how tough a life in the Defense Forces is. Not only does it come to themabsolutely free, no minimum balance is required either. They can also accessthe entire Axis Bank network, including more than 2300 ATMs and 550

branch offices (and growing) no matter where they are posted.With the complete gamut of banking services (including overdrafts, loans andzero- balance requirements) they can be rest assured about their family and alltheir financial needs. It's their way of showing their appreciation to theirwork. Banking Privileges: At-par Cheque Facility - Their job involves constant transfers across thecountry. With the at-par cheque facility it will no longer be necessary to setup new bank accounts with each transfer Additional Debit Card - Along with a free International Debit Card, they

also get a free card for the joint account holder. This means that their child orspouse also enjoy the same benefits of banking with Axis Bank. Financial Advisory Services Their solutions answer to the twin goals ofmeeting their requirements and to diversify and spread the risk of theirinvestment portfolio, so you can look forward to a comfortable and worry-freelife. They first understand their exact investment needs and then design the

perfect investment plan for you.Their investment plan could include investments in:- Mutual Funds - Debt and Equity- Bonds- Axis Bank Fixed Deposits9) NGO SAVINGS ACCOUNT

Axis Bank's Trust Account is an effort to offer thoughtful banking for peoplewho spend their lives thinking of others. It is a complete banking solution forTrusts, Associations, Societies, Government Bodies, Section 25 companiesand NGOs, so that the organizations can devote all of their time to their noblemotivations.Features

A Savings Account for their Trust with a confessional Average QuarterlyBalance. A multi-city at-par cheque facility with no limit on clearing payments atcenters across the country wherever we are present. Free anywhere banking across all their Branches and Extension Countersand over all their ATMs.


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Free Demand Drafts or Pay Orders as and when required by you to remitfunds. Free collection of cheques at outstation locations. Monthly Statement of Account delivered at their doorstep. Facility for collecting donations in their account through their network ofBranches and Extension Counters across the country, as well as throughiConnect- their Internet Banking facility.Also, Axis Bank can offer the facility to donate funds to their Trust throughtheir Internet Banking facility iConnect to its customers. An Axis Bankcustomer can donate any amount to their Trust through the Internet.In such cases, the savings account of the customer gets debited and thesavings account of their Trust gets credited with the amount of donation at thesame time. At the end of every month, the Bank will provide an MIS giving

details of the amount of donations andthe name of donor. This will enable the Trust to issue receipts to the donors. Free Internet Banking facility that enables you to view the status of theiraccount, transfer funds and carry out a number of banking activities from thecomfort of their home or office. Investment Advice - Their Financial Advisory Desk will provide portfoliomanagement advice as well as help you undertake investments. Free Demat - To facilitate their investments, we offer a free Demat Account(charges due to NSDL must still be levied) to their esteemed account holdersin the Trust or Society segment. Constituent Subsidiary General Ledger (SGL) account - The ConstituentSubsidiary General Ledger (SGL) account through which investments in Govt.securities are carried out comes with a host of value-added services- Investment advice related to the customer's g-sec portfolio.- Offer of better rates on sale of government securities from the Bank'sstock of securities.- Concessions in transaction and service charges. (However charges thathave to be directly passed on to the Clearing Corporation of India as partof the Negotiated Dealing System for trading in g-secs cannot be waved -

a fact, which will be communicated up front.) Foreign Contribution (Regulation) Act [FCRA] accounts - The FCRAaccount enables approved organizations to receive foreign contributions forutilization in their activities in India. The Bank will provide assistance in the

process of documentation and obtaining necessary approvals from Ministry ofHome Affairs at New Delhi.


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(10)PENSION SAVINGS ACCOUNT

Pension Savings Bank Account, from Axis Bank is specifically, designed forPensioner's (Existing & Prospective) of Central Govt. CivilMinistries/Departments & Defense Ministry keeping in mind the fact that aPensioner's banking requirements are wholly different and require specialconsideration.Benefits

Timely communication to the customer on receipt of the PPO.No delays in commencement of pension disbursals - The Bank is handlingthe disbursement of Pension under a Centralized Pension DisbursementModule wherein the Pensioner records are credited centrally through itsCentralized Pension Payment Hub (CCPH) at Mumbai. Timely issue of Form- 16A for tax deducted at source in the immediately

previous financial year.

Timely revisions based on changes in rates of Pension or DearnessAllowance, done centrally from the CCPH.11) RESIDENT FOREIGN CURRENCY (domestic) FRC (D)

ACCOUNTIf you pay commissions for foreign currency every time you travel abroad, ifyou spend sleepless nights wondering how to keep your foreign currency safe,if the frequent fluctuations in forex market tantalize you, if you regularlyissue cheques and drafts for payments abroad or if you are a bibliophile whomakes foreign currency payments for books purchased online, its time youhad an Resident Foreign Currency (Domestic)Account with Axis Bank. Resident Indians and Foreign Currency - Holdingforeign currency is no longer restricted to the NRIs. For the first time ReserveBank of India has allowed Resident Indians to maintain foreign currencyaccounts without any ceiling to it. This step is considered as a continuation ofRBIs gradual endeavor towards achieving 'Full Capital Convertibility'The Product Offer ings - A Resident Foreign Currency (Domestic) Account,RFC(D), with Axis Bank entitles you to maintain non-interest bearing currentaccount in four major currencies (USD, EURO, GBP and Japanese Yen).


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There will be no ceiling on the balances held in the account. Chequebooksdenominated in USD or GBP or EURO or Yen will be issued on theseaccounts with 25 leaves. The cheques thereby branded as RFC (Domestic)Account will not be presented in clearing and will be payable only at theissuing branch. The min balance for such a current account will be USD 100or GBP 60 or EURO 100 or Yen 20,000. There will be a penal charge ofUSD 5 or GBP 3 or EURO 5 or Japanese .Yen 1,000 per quarter in case offailure to maintain the min balance requirements. The RFC (D) accountholders will not be allowed any ATM facility as of now. Howeverthey can use 'iConnect' for enquiry purposes only.


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RESEARCH METHODOLOGYMarketing research may be defined as the systematic gathering, recording

and analyzing of data about problems relating to the marketing of productsand services under non-recurring condition.Marketing research is the process of designing, gathering, analyzing and

reporting information that may be used to solve a specific technologyproblem.

Steps in Marketing Research Process:Establish the need for Marketing ResearchDefine the ProblemEstablish Research Objective

Determine the Research DesignIdentify Information Types and SourcesDetermine Methods of Accessing DataDesign Data Collection FormDetermine Sample Plan and SizeCollection of DataAnalysis of DataConclusions and Recommendations

Now we concentrate on Research Methodology and Data Collection Method.Methodology plays a lead role in each and every project work. The researchmethodology consists of the following steps:

STEPS IN SAMPLE DESIGN

Type of universe:The first steps in developing any sample design are to clearly define the set ofobjects, technically called the universe, to be studied. The universe can befinite or infinite. In finite universe the number of items is certain, but in of aninfinite universe the number of items is infinite i.e., we cannot have any idea

about the total number of items. Since I have done my summer training inAXIS Bank, Delhi so my universe is Finite. Size of sample: 122This refers to the number of items to be selected from universe to constituentthe names. This major problem before a researcher the size of sample shouldneither be expressively large nor should too small it be optimum.


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Sampling unit: -

A decision has to be taken concerning a sampling unit before selectingsample. Sampling unit may be a geographical one such as state, district,village, etc or a construction unit such as house flat, etc, or it may be socialunit such as family, club school etc, or it may be an individual. My samplingunit is people of Delhi location.

DATA COLLECTION :-

The task of collecting the data begins after a research problem has beendefined and research design/plan chalked out. While deciding about themethod of data collection to be used for the study the researcher should keepin mind two types of data viz., primary and secondary. Secondary data: Thesecondary data are those which have been already collected by someone elseand which have already been passed through the statistical tool.

"Secondary data are statistics not gathered for the immediate study at hand butfor some other purposes."Secondary data can be classified into:-

1) Internal Secondary Data: -Data that are originated within the firm for which the research is being

conducted are internal data. If they were collected for some other purposes,they are internal secondary data."2)External Secondary Data:-The second form of secondary data is external sources, which are generally

published and are available in different form and different sources .


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ABOUT ICICI BANKICICI Bank is the second largest bank in the country. ICICI bank began itsretail- banking venture in mid-1999. By January 2000, it had moved on tointroducing home loans, car loans, personal loans and credit cards.Realizing the need for a bigger retail deposit base, the bank started building a

branch and an ATM network. The acquisition of Bank of Madurai is March2001 added 263 branches, many of them in cities where ICICI bank did nothave a presence. The merger of the erstwhile financial institution ICICIlimited with the bank in April 2002 gave it a ready-made corporate clientele.The flip side was that ICICI bank had Rs. 10,000 crore of restructured assets

for which it had to make provisions. ICICI Bank has total assets of Rs.3,997.95 billion (US$ 100 billion) at March 31, 2008 and profit after tax ofRs. 41.58 billion for the year ended March 31, 2008. ICICI Bank is secondamongst all the companies listed on the Indian stock exchanges in terms offree float market capitalization. The Bank has a network of about 1,308

branches and 3,950 ATMs in India and presence in 18 countries. ICICI Bankoffers a wide range of banking products and financial services to corporateand retail customers through a variety of delivery channels and through itsspecialized subsidiaries and affiliates in the areas of investment banking, lifeand non-life insurance, venture capital and asset management. The Bank

currently has subsidiaries in the United Kingdom, Russia and Canada,branches in Unites States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatarand Dubai International Finance Center and representative offices in UnitedArab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia andIndonesia. Our UK subsidiary has established branches in Belgium andGermanyICICI Bank's equity shares are listed in India on Bombay StockExchange and the National Stock Exchange of India Limited and its AmericanDepositary Receipts (ADRs) are listed on the New York StockExchange(NYSE).


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CATAGORIES OF SAVINGS ACCOUNT OF ICICI BANK

1) SAVINGS ACCOUNT

An ICICI Bank Savings account offers you a valuable banking experience.Features Debit-cum-ATM Card- With an ICICI Bank Savings Account you will get adebit card that you can use to withdraw cash from any ATM. Charges areapplicable if you use a non-ICICI Bank ATM. You may also use your debitcard to directly make purchases through a Visa POS (Point of Sale) machineavailable at most stores! This will help you access your high interest accountfrom anywhere.-Money Mult iplier Facili ty - Allow us to take care of your idle

money by movingit into high interest savings account earning.-Internet Banking :- Banking could not have been more convenient. Just log in

with your user ID and password and make banking a hassle-free routine. Customer Care - Our 24-hour Customer Care is always available to answerany query or take your instructions. Mobile Banking - Transferring funds or getting to know your balance is aseasy as sending an SMS. Standing Instructions - ICICI Bank accepts and supports StandingInstructions. You dont have to worry about the chore of carrying out aroutine transaction. Just set up a Standing Instruction and leave it to us tomanage.Nomination Facility - You may nominate a person as beneficiary to youraccount proceeds.

Bank@Home - A new banking service that allows you to order cashdeposits and withdrawals from home. The service includes cash /chequesdeposits and cash/DD/PO delivery at home. DD Call and CollectDont waste even a minute in a queue to collect a Demand Draft or Pay Order.

On the way to the branch, just call Customer Care, provide details of the DD

to be prepared and collect it ready and signed at the branch!


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2) SPECIAL SAVINGS ACCOUNT

Features Operating account withf r e e multi city chequebook facility. Money Multiplier Facility. We trust totally your commitment to the account and the relationship and donot prescribe any minimum balance requirement. In other words, there is no

penalty for non-maintenance of minimum balances in the accounts. Internet Banking Phone Banking Free Anywhere banking Free collection of outstation cheques Free monthly account statements Inward remittance through Money2India for FCRA approved trusts3) LIFE PLUS SENIOR CITIZEN ACCOUNT

FeaturesNo more waiting in long queues for you, a senior citizen can now approachthe Special Senior Citizen desk at any ICICI Bank branch and get his / heraccount serviced. Earn a higher interest rate on your terms deposits with us Demand Loan / overdraft against deposits will be upto 90% of the deposit The upcountry cheque collection facility for locations with ICICI Bank

presence free of charge to the Senior Citizen customersNow, get a specially designed debit card with your new 'Life Plus' Seniorcitizen account. This ICICI Bank Ncash debit card is a debit-cum-ATM card

providing you with the convenience of acceptance at merchant establishmentsand cash withdrawals at ATMs. With a per-day limit of Rs.25,000 each forATM withdrawals as well as for POS transactions , the Debit Card only addsmore comfort and convenience! This is available free of cost to ICICI BankSenior Citizen customers. Free quarterly physical statement Payable-at-par cheque book Free Access to any Bank's ATM -The next time you want to withdraw cashfrom your ICICI Bank account, just walk into any bank's ATM and use your

ICICI Bank ATM-cum-Debit card Free Demand Draft / Pay Order Money Multiplier Facility - The Money Multiplier feature gives you theliquidity of a Savings Account coupled with high earnings of a Fixed Deposit.This is achieved by creating a Fixed Deposit linked to your Savings Account

providing you the following unique facilities.- Maximum returns- Your money is never idle. Creation of a linked FD


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ensures higher rate of interest on your Savings Bank Deposits. You canissue instructions through any channel such as the ICICI Bank Branch,ICICI Bank Phone Banking and ICICI Bank's Internet Banking forcreation of Fixed Deposit(s) from the surplus funds in your Savings BankAccount (subject to a minimum of Rs. 10,000). The Fixed Deposits will becreated in multiples of Rs. 5,000 for a tenure of one year or more asinstructed by you.- Maximum Liquidity - You can withdraw the funds from your savingsaccount through any channel such as the ICICI Bank ATM, ICICI BankInternet Banking or by issuing a cheque. etc. All linked Fixed Depositswill be enabled for automatic Reverse Sweep in multiples of Rs. 5000 on aLast-In-First-Out (LIFO) basis when the balance in the Savings Accountfalls below Rs.10, 000. The amount reverse swept will earn interest rates.atthe applicable rate for the period that the deposit was held with the Bank. The

remaining amount will continue to earn higher interest at the original rateapplicable to the fixed deposit.

Auto Renewal - Under this facility, when your deposits fall due, the bankwill automatically renew the principal and accrued interest for the same tenureas the original deposit. Internet Banking is offered free of cost - ICICIBank.com, our InternetBanking Service, is a convenient remote banking facility providing you witheasy and secure access to your accounts.With just a PC connected to the Internet, you can have your account

information at your fingertips, from anywhere in the world, anytime.So, if you don't want branch timings to restrict you, Internet Banking is

justthe service for you.Nomination facility [Nomination facility available for bank deposits. Therecan be only one Nominee for a deposit account whether held singly or jointly.A person legally empowered to operate a minor's account can file anomination on behalf of the minor. Applicants can make nomination by fillingup the Form prescribed under the Banking Companies (Nomination) Rules1985. The nomination details can be changed during the subsistence of the

account relationship by filling up the Form prescribed under the BankingCompanies (Nomination) Rules 1985. For more details approach your bank.]is available. Interest is payable half-yearly.


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4) YOUNG STARS ACCOUNT

At Young Stars, we will guide your child through the world of banking - fromchecking the childs savings account balance to guiding through fun zones and

special pages on the Internet Banking channel. It makes banking a pleasureand teaches your child to manage his or her personal finances through asavings account. You can transfer pocket money into your child's account.You can even shop with him /her at Young Stars Shopping Page. You can alsoopen a recurring deposit in your child's name. Once you are done with your'banking', you can access your child's account with all the fun links to specialzones designed to suit your child's area of interests and also impartknowledge on the current events of the world.Features:

Young Stars is a banking service for children, aged up to 18 years, brought toyou by ICICI Bank to help the parents meet the present and future aspirations

that they hold fortheir child. It offers various savings and investment options to the parentalong withteaching the child to manage his/her personal finance in a more responsibleand independent manner.To make the experience a pleasure we offer: Option of a Savings Bank account, Fixed Deposit or Recurring Deposit Minimum average balance to be maintained at Rs. 2,500/- per quarter forthe Savings Bank account. A special Recurring Deposit with additional features as below:- The parent would put forward the desired amount to be earned at the endof the tenure.- Based on the prevailing rate of interest, the bank staff would then backcalculate the installments to be deposited now till maturity. Free personalized chequebook Free International debit card for children above the age of 7 years withfeatures as below:-- Daily withdrawals limits of Rs. 2500/-- Daily spend limits of Rs. 2500/-

The next time you want to withdraw cash from your ICICI Bank Young StarsSavings account, just walk into any bank's ATM and use your ICICI BankATM- cum-Debit card for free. The above benefit is available to Young starSa v in g s Account holders on maintenance of a quarterly average balance ofmore than Rs.10,000 in the savings account in a quarter. The above benefitcan be availed in the same quarter ..


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Free Internet banking- Separate login ids and transaction password.- Access to special zones and links to related websites for making Internet

banking a memorable experience. Facility to transfer funds from parent account to kid account to enable

parents to inculcate savings habit amongst children Facility of transferring funds from the Young Stars accounts to the RD toenable the parents to let their child earn more.5)ADVANTAGE WOMAN SAVING ACCOUNT:-

ICICI Bank Advantage Woman Account an account for the woman oftoday who is looking for independence and an identity of her own, a savingsaccount which will help you save for the future as well enjoy the present.Get a specially designed woman's debit card which helps you shop and savesimultaneously, manages your household expenditures and comes with a bag

full of offers attached to it.This savings account brings to you our entire core banking services with manyexciting benefits and features attached, especially for our women customers.Features:-

Zero Balance facility with a RD of just Rs. 2,000 - Now just maintain aRecurring Deposit of Rs. 2,000 with us and get a hassle free zero balancesavings account. A Special International Woman's Debit card along with the account with awithdrawal / spending limit of Rs. 25,000 per day.

Also, take full advantage of gamut ofd i s c o u n t s andb e n e f i t s on yourSpecial Woman's Debit card. Free Unlimited Access to any bank's ATM - Enjoy free unlimited accessto any bank's ATM for cash withdrawals and balance enquiry. Payable-at-par chequebook -With the Advantage Woman account, you geta free, multi-city chequebook. Free quarterly physical account statement and free monthly emailstatement (on customer request) Bill Pay - No need to waste precious time in queues to pay bills. Pay your

telephone, electricity, mobile phone bills, etc. online or through our CustomerCare, by giving us a one-time standing instructions. Mult i Channel Access - For carrying out routine banking transactions or toregister for services like credit cards, utility bill pay, cash pick-up anddelivery on call, etc. conveniently access to your savings account through anyof the following channels:


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o Access to over 950 ICICI Bank branches and 3,500 ATMso Free Internet Bankingo Free Phone Bankingo Mobile BankingNomination facility available

6) RESIDENT FOREIGN CURRENCY (domestic) (RFC (D))

ACCOUNT

Do you want to save money while buying foreign currency for travelingabroad? You can buy travelers cheques, foreign currency in cash and foreign

currency demand draft for your expenses overseas. If you are a frequenttraveler, you may not want to go through the hassles of buying foreigncurrency every time you travel abroadThe Reserve Bank of India has nowmade it easier for you to access foreign currency by permitting a foreign

currency account (domestic) for resident Indians. In line with RBI guidelines,ICICI Bank has come up with a scheme that helps you get rid of all your forexworries. You can park your foreign currency in ICICI Bank under RFC (D)account. Non-interest bearing Resident Foreign Currency (D) (RFC (D)) withICICI Bank can be maintained in four major currencies (USD, EURO, GBPand Japanese Yen).

Benefits of ICICI Bank RFC (D) Account :-

Saving in commission charges, as you can withdraw foreign currency whenyou want without any conversion charges Facilitates your payments for foreign travel expensesNo ceiling on deposits Convenient and value-added banking Protection to your money from valuation risks due to exchange ratefluctuations.Features:ICICI Bank RFC (D) Account has been created to meet your need foraccessing foreign exchange frequently without any hassle. It will savecommission charges and will also protect your money from valuation risks

due to exchange rate fluctuations.Product Features:

RFC (D) Account is a single currency account. It can be opened in PoundSterling (GBP), US Dollar (USD), Japanese Yen (JPY) or EURO (EUR).Deposits in multiple currencies in a single account are not permitted. You mayopen separate accounts for each of the permitted currencies. Protects your money from valuation risks due to exchange rate fluctuations.


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No exchange charges will be levied for converting foreigncurrency into INR.

This account will be maintained in the form of a current account.No interest is payable on deposits.

Foreign Currency BUY rate of ICICI Bank as prevailing for thatcurrency on the day of the transaction will apply for converting theforeign currency into INR.

Foreign currency withdrawals can be possible in the form of cash, travelerscheque, foreign currency DD. Withdrawal limit will be as per RBI guidelines

No ceiling on the maximum amount of deposit in the account.No minimum balance required.Nomination facility.7) RURAL SAVINGS ACCOUNT :-

Features The Rural Savings Account will be available through BusinessCorrespondents. The account is zero balance with no initial deposit. All transactions in the accounts are done only after a biometricauthentication.Nomination facility is available. Interest is payable half-yearly.8) PEOPLES SAVINGS ACCOUNT :-

Features

A savings account from ICICI Bank available only through our Ruralbranches. Minimum balance of Rs.500/-.No annual fees. Unlimited transactions at the base branch where you have opened youraccount. Internet, Phone and Mobile banking free of cost.9)FREEDOM SAVINGS ACCOUNT :-

The all-new ICICI Bank Freedom Savings account now brings you free access

to your moneyfrom over 18,000 ATMs of all Banks, across the country.Add to it a host of services like Mobile Banking, Internet Banking, Customercare, Anywhere Banking and lots more. And you get a Savings Account thatgives you freedom like no other.Key Features:- -Enjoy free, unlimited access to all non-ICICI Bank ATMs

(for cash withdrawals and balance enquiry) . Minimum quarterly average

balance of Rs.10,000.


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ABOUT HDFC BANK

The Housing Development Finance Corporation Limited (HDFC) wasamongst the first to receive an 'in principle' approval from the Reserve Bank

of India (RBI) to set up a bank in the private sector, as part of the RBI'sliberalization of the Indian Banking Industry in 1994. The bank wasincorporated in August 1994 in the name of 'HDFC Bank Limited', with itsregistered office in Mumbai, India. HDFC Bank commenced operationsas a Scheduled Commercial Bank in January 1995. HDFC Bank's mission is to

be a World-Class Indian Bank. The objective is to build sound customerfranchises across distinct businesses so as to be the preferred provider of

banking services for target retail and wholesale customer s egments, and toachieve healthy growth in profitability, consistent with the bank's riskappetite. The bank is committed to maintain the highest level of ethical

standards, professional integrity, corporate governance and regulatorycompliance. HDFC Bank's business philosophy is based on four core values -Operational Excellence, Customer Focus, Product Leadership and People.

CATAGORIES OF SAVINGS ACCOUNT IN HDFC BANK :-

1) REGULAR SAVINGS ACCOUNT :-

This is the crme product of HDFC Bank. Its minimum depository amount isRs. 5,000 only. On the cost of this Bank provides many benefits andadvantage.

Features and benefits :-

Wide network of branches and over thousand ATMs to meet all yourbanking needs no matter where you are located

Bank conveniently with facilities like Net Banking and Mobile Banking-check your account balance, pay utility bills or stop cheque payment,through SMS.

Never overspend- Shop using your International Debit Ca rd that reflects

the actual balance in your savings account.

Personalized cheques with your name printed on each cheque leaf forenhanced security.

Take advantage of Bill Pay, an instant solution to all your frequent utility


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bill payments. Instruct for payment over the phone or through the Internet.

Avail of facilities like Safe Deposit Locker ,S w e e p - I n and Super Saverfacility on your account.

3 Free transactions on SBI/Andhra Bank ATMs per month.

Free Payable-at-Par chequebook, without any usage charges upto a limitof Rs.50,000/- per month.

Free InstaAlerts for all account holders for lifetime of the account.

Free Passbook facility available at home branch for account holders

(individuals).Free Email Statement facility .2) SAVING PLUS ACCOUNTIn this p l u s means customer are provided with some additional features ofsavingregular. Its minimum depository amount is Rs. 10,000 only.Features and benefits An Interest rate of 3.5% p.a. is to be paid at quarterly intervals.

2 free transactions on SBI/Andhra Bank ATMs per month.

3 free transactions on any other bank ATMs per month.

FreeP a y a b le - A t - P a r chequebook without any usage charge up to alimit ofRs. 50,000 per month.

Free Internat ional Debit Card for all account holders, for lifetime of the

account.Free Demand Drafts on HDFC Bank locations, up to a limit of Rs 25,000 perday.

Free Bill Pay & Insta Alert facility for all account holders for lifetime of theaccount.


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Free National Electrical Funds Transfer facility, Net Banking, Phone Bankingand Mobile Banking.

25% off on the Locker Rental for the 1st year.

Special relationshipd i s c o u n t on purchase of Gold Bars .

Free E-mail Statement facility.

Free Pass Book facility available at home branches for account holders(individual).

Inter-city Banking and Multi-cityB a n k in g .

3) SAVINGS MAX ACCOUNTThis account provides maximum benefits to its customers. Due to havingthis productHDFC Bank occupies a special position in Private Banking Sector. Foravailing thefacilities of this account, customer has to deposit and maintain minimumamount ofR s .25,000o n ly .Features and benefits An Interest rate of 3.5% p.a. is to be paid at quarterly intervals.

Free unlimited transactions at all HDFC Bank ATMs and any other BankATMs using your HDFC Bank Debit Card.

Free Gold Debit Card for primary account holder, for the lifetime of theaccount. Gold Debit Card for other account holder at Rs. 250 p.a.

Free Womans Advantage/International Debit Card for all account holders,for lifetime of the account.

FreeP a y a b l e - a t - P a r cheque book without any usage charges, up to alimit ofRs. 100,000 per month.

Free Demand Drafts on HDFC Bank locations, up to a limit of Rs.50,000 perday.


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Optional Sweep Out facility to transfer extra saving to a Fixed Deposit at thethreshold of Rs. 50,000 in account. The amount above Rs. 50,000 willautomatically be swept out in to fixed deposit with a minimum value of Rs.25,000 for 1 year 1 day period.

Free Bill Pay and Insta Alert facility for all account holders for lifetime ofthe account

Free Monthly Statement of Account.

50% off on the Locker Rental for the 1st year.

Folio maintenance charges on Demat Account waived for the first year.Free Pass Book facility available at home branches for account holders(individual).

Free E-mail Statement facility.

Free National Electronic Fund Transfer facility, Net Banking, Phone Bankingand Mobile Banking.

Self /Third Party Cash Deposit and Withdrawal at non-home branches, up toRs.50,000 per day is free and Rs. 2.90 will be charged per thousand on theamount deposited above Rs. 50,000 limit.4) KIDS ADVANTAGE ACCOUNTThis account is specially designed keeping customers child future in mind.Customermust have/open a Savings Account in HDFC Bank and invests a sum of Rs.10,000 in aFixed Deposit in childs name, and then a Zero Balance Kids Advantage

Accountlinked to the FD is opened in the childs name with customer as guardian.Features and benefitsFor their Growing Needs

Free Education Insurance cover of Rs.1,00,000/- in the event of death of the


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parent / guardian through vehicular accident by road, rail or air to safeguardthefuture of your child.

ATM/International Debit Card will be issued for children between 7-18 yearsofage in the child's name with your permission. The amount your child is able towithdraw is Rs. 1,500/- at ATMs or spends Rs. 1,000/- at merchant locations.

Your child need not even search for an HDFC Bank ATM. He/she can make3cash withdrawal transactions from SBI/Andhra Bank ATMs per month,absolutelyfree.

Free personalized chequebook for your child.

Monitor the transactions of your child's account with the free quarterlyphysicalstatement of account or free monthly Email Statement of account.

Free NetBanking for you to monitor your child's account.

Free SMS/Email alerts informing you about the account transactions.For their Secured Future

Opt for standing instruction to transfer any amount from your account to yourKid's Advantage Account every month (Minimum value = Rs. 500/- &Minimumtenure = 1 year).

Once the balance in the Kid's Advantage Account reaches/exceeds Rs.

10,000/-,the amount in excess of Rs. 5,000/- will automatically be transferred into aFixedDeposit for 1 year 1 day, in your child's name, by signing in for our sweep-outfacility.

You can also opt for systematic investments in mutual funds from the Kid's


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Advantage Account in your child's name.5) FAMILY SAVINGS GROUPThe persons who can apply for Family Savings Group are:

Existing customershaving one or more accounts with us (Savings / Salary /NRI / Salary Reimbursement / Kids Account) at the same or differentbranches.

New customeryou and your family members intend to have one or moreaccounts with us..Features and benefits

Free International Debit Card for all account holders, for life.

5 free transactions on SBI ATMs per month per group.

Gold Debit Carda t Rs. 250 for all account holders.

2 free DDs on HDFC Bank locations, per account per month (up to a limit ofRs.25,000 per day).

Sweep-In facility to a nominated saving account from other accounts in thegroup.

Free one view to access all your accounts.

Free National Electronic Funds Transfer facility, Net Banking, Phone Banking& Mobile Banking.

25% off on annual locker rentals.

Folio maintenance charges on Demat account waived for first year for allaccount holders.

Preferential pricing on credit cards.6) PENSION SAVINGS ACCOUNTA Pension Saving Account is a Zero Balance Account that accumulates your

pension


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over the years. It comes with a free International Debit Card and facilities likePhone and

Net Banking. You can access this Account from any branch within the HDFCnetworkand also request for transfer to another bank.Features and benefits

The Pension Saving account is a Zero Balance Account.

Timely credit of receivables

Free International Debit Card.

Enjoy facilities such as NetBanking, PhoneBanking, BillPay, ATM facility,

inter-city and inter-branch banking.

Pension Accounts are transferable from one branch/bank to another.

LIMITATIONS AND FINDINGSLIMITATIONSThe main limitations of the study are:

The sample size was quite small which is unable to represent the whole

universe.

It was found that many of the respondents did not have any knowledge of theproduct.

The non-cooperative nature of many of the respondents acted as constraints.

Throughout this project report we can measure the potential of the bank in theselected area but cannot measure the capabilities, skills and efficiencies of the

Customer.ADVANTAGES OF HDFC BANK:HDFC Bank has many advantages over MNC Banks. Some of its importantadvantagesare mentioned below:

1. Since HDFC Bank is the largest profit-yielding Bank among other privatesector


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banks, customers are attracting towards it.2. In HDFC Bank, number of customers are limited that is why, quality ofservices

provided to them are good.3. Customers reaching to the HDFC branches are of higher profile andw e l leducated so; it becomes easier for the employees to make them aware aboutthe

products features and formalities.This advantage also helps employees to convince customers for furtherinvestments.4.Net Banking, Phone Banking, Insta Alert, Anywhere Banking etc. are themajor facilities provided by the Bank to its customers.5. Every branch of HDFC Bank are well furnished and fully air-conditionedwith

the latest technologies.6. HDFC Bank is located on every two kilometers in metropolitan citieswhich isvery convenient for the customers.7.It has more than 1500 ATMs all over the country, by which customer caneasilydeposit and withdraw his money from any location.8.In its certain products like Saving Max Account, third party transactionsarealso allowed.9.Since its minimum depository amount is Rs. 5000 in Saving Account, it is a

bankof higher profile people.10.In HDFC Bank, if any customer is maintainingA Q B (Average QuarterlyBalance) 0f Rs. 2,00,000 3,00,000 continuously for 1-2 years, they will getthefacility of PREFFERED CUSTOMER.11.After being the customer of HDFC Bank, customer canp a y his UtilityBills by

sitting at his home only through the facility of Net Banking.

12.It also gives special considerations to its women customers also. Itprovides thefacility of WOMEN ADVANTAGE CARD to them through which theycan:


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Pay their utility bills totally free of cost.

Get5 0 % discount on Locker Facility on HDFC branches.

On every purchasing they will get0 . 5 % cash back.

Get accidental insurance of Rs. 2,00,000.13.In HDFC Bank, the main emphasis is given onr e t a i n i n g the customersforever.14.HDFC Bank focuses on quality of customers instead of quantity.15.Customers cans a v e his lots of time after becoming the customer ofHDFC Bank.

DRAWBACKS OF HDFC BANK:There are certain advantages of HDFC Bank, which acts as its drawbacks also.Some ofits important drawbacks are as follows:1.The main disadvantages of this bank are that in this bank there is no J o b Security to its employees. If they fail in achieving their targets, they will befiredout.2.Employees always feel pressure of work like 8 a.m. to 8 p.m. as workingschedule, completing targets assigned to them. They cannot work freely.3.Instead of opening branches on every two kilometers in metrocities, itshould alsofocus onu r b a n ands e m i - u r b a n areas.4.One of its main advantages is its Net Banking Facility but it is useless forthecustomer who is not having any knowledge of computers. This shows that itdoesnot follow the concept of KYC i.e. know your customer .

5.The policies of bank are such that it is beyond the reach of low profilepeople i.e.low profile people cannot operate this bank.A few reasons why many people would not like Axis Bank are1] Call handlers are not trained enough.2] Customers have poor product knowledge.3] Not accessible 24 hours.


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4] Query is not attended and sometimes never understood by these CSAagents.FINDINGSHDFC Bank reported over 30 per cent y-o-y growth in net profit in the June08 quarter.

The stability in earnings growth of HDFC Bank is much higher than that ofICICI bank.The gap in the profit growth between the two banks was not high till theMarch 08

quarter. But ICICI started showing signs of a slowdown in its retail loan bookin theMarch 08 quarter itself. This was evident as HDFC Bank posted a growth of

39 per centin its retail advances in FY-08, while ICICI managed to grow its retail

advances by only15 per cent. This shows that only better expense management helped ICICI to

post highprofit growth in the quarter ended March 08.

The environment became more challenging in the June 08 quarter as inflation

continuedits double-digit run. The RBI has hiked repo rates and cash reserve ratio tocombatinflationary pressures. As a result, banks have increased their prime lendingrates anddeposit rates. The increase in interest rates took a much heavier toll on ICICI

bank as itsadvances grew by just 13 per cent y-o-y of end 08. Stagnant business andtreasury lossesresulted in ICICI posting a 6 per cent y-o-y fall in profit for the June 08quarter.However, HDFC bank registered a 47 per cent growth in its advances on aconsolidated

basis over the same period.

Apart from stability in business and earnings growth, HDFC bank fares muchbetter than

ICICI bank on other important parameters as well. HDFC banks return on

assets hasalways been higher than that of ICICI. The formers net interest margin stood

at 4.1 per


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cent in the June 08 quarter, compared to ICICIs 2.4 per cent. This is becauseHDFCBanks cost of deposits is the least in the industry, due to higher share of

current accountand savings account (CASA) deposits in the total deposits. HDFC banks non

performingassets are also much lesser than that of ICICI bank. This shows that HDFC

bank is aquality player, while ICICI bank is a volume player. When volume growth orloan growthreduces, ICICI banks performance also takes a hit.

Axis bank stands apart from its private sector competitors - ICICI bank andHDFC bank -in one crucial respect. While the two other banks have envisaged retail

banking as a keyof strategic emphasiswith the share of retail business (both on the fundingand assetsides) growing strongly year after yearthe share of retail business,

particularly retailassets, has actually come down quite sharply in the case of Axis bank.The numbers here are quite interesting. For ICICI bank, retail loans now (asof June2007) account for as much as 70 per cent of the banks total loan book of Rs.2,00,000crore. For HDFC bank, retail assets are around 57 per cent (Rs. 28,000 crore)of the totalloans as of March 2007.In the case of Axis bank, retail loans have declined from 30 per cent of thetotal loan

book of Rs. 25,800 crore in June 2006 to around 23 per cent of loan book ofRs. 41,280crore (as of June 2007). Even over a longer period, while the overall assetgrowth for

Axis bank has been quite high and has matched that of other banks, retailexposures grewat a slower pace.If the sharp decline in the retail asset book in the past year in the case of Axis

bank is partof a deliberate business strategy, this could have significant implications (notnecessarily


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negative) for the overall future profitability of the business.Despite the relatively slower growth of the retail book over a period of timeand theoutright decline seen in the past year, the banks fundamentals are quite

resilient. Withthe high level of mid-corporate and wholesale corporate lending the bank has

been doing,one would have expected the net interest margins to have been under greater

pressure.The bank, though, appears to have insulated such pressures. Interest margins,while theyhave declined from the 31.5 per cent seen in 2003-04, are still hovering closeto the 3 per

cent mark. (The comparable margins for ICICI bank and HDFC bank arearound 2.60 percent and 4 per cent respectively. The margins for ICICI bank are lower despiteits muchlarger share of the higher margin retail business, since funding costs are alsohigher).HDFC bank is the second largest institution after ICICI in private sector but itis higher in

profits than ICICI bank.Some customers are not satisfied with the facilities and services, which are

provided byHDFC bank. The customer wants to increase the number of ATMs and more

branches ofHDFC bank in the rural as well as in the hilly areas like Kullu, Manali,Kashmir, Shimlaand many more. Customers are not satisfied with the non-maintenance chargesondifferent products.The Axis Bank stock has outperformed its peers in the private sector with a

16.1 per centgain in its price over the past one year, when other private bank stocks havefailed togenerate positive returns. A lower exposure to retail lending, where there areconcernsabout credit quality, has helped the stocks performance.


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At Rs 713, the stock trades at a price-book value of around 2.8 times, which isat adiscount to HDFC Bank but at a premium to most other private banks.Investors cannevertheless buy the stock, given the growth momentum in the business.Axis Bank reported strong financial results in FY-08 and continued its good

performancein the first quarter of this year, even as other private banks have turned inunimpressivenumbers.This growth may be moderate, as growth in the loan book slows down on thecorporateand retail side with trading operations also likely to yield lower returns.However, this

may be offset by growth in fee income and rapid branch expansion in Tier-1,Tier-2towns and the small and medium enterprise (SME) segment.HDFC Bank is expecting a 35-per cent growth in its credit card portfolio thisyear despiteconcerns over the impact of increasing interest rates. Out of 4.2 million, 70

per cent ofthe cards are with the internal customers of the bank while the rest are in theopen market

base. On the strategy of the bank in its credit card business, the offic ial said itwould bean entry product after a savings account with the bank for many people.

HDFC Bank has reported a net profit of Rs 464.4 crore in the first quarter ofthe fiscal.This is a 44 per cent increase against Rs 321 crore in the correspondingquarter of the

previous year.Since the merger of Centurion Bank of Punjab (CBOP) and HDFC Bank

becameeffective from May 23, 2008, the financial figures of the merged entity are notcomparable to HDFC Banks stand-alone results last year.The total balance sheet size has grown by 59.5 per cent from Rs 105,695 croreto Rs1,68,590 crore. Centurion Bank of Punjab has contributed to 20 per cent of the

balance


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sheet. Net interest margin was at 4.1 per cent, against 4.2 per cent in theprevious year.CBOPs NIM in the previous year was 3.6 per cent. The total income has

grown by 60per cent and net interest income has grown by 75 per cent.Under the initiative, ICICI Bank, in collaboration with the MV Foundation,KalingaInstitute of Social Sciences and Project Givelife-Shriram Social WelfareTrust, will

provide formal elementary education to 1,00,000 children in the age group of6-14 yearsin 2008-09.RECOMMENDATION AND SUGGESTIONDuring the period of my extensive research I have come to know that there are

fewweaknesses in the Banks. Customers have several problems regarding some

products andworking style of the bank, which the company should overcome. These are:1. In HDFC Bank, the Non-Maintenance charges on some of its products likecurrent account, etc. is very high. So the company should take decision tominimize the Non-Maintenance charges.2. HDFC Bank is not having much number of branches or ATMs. So thecompanymust have to increase the number of branches and ATMs by which they caneasilyattract to the most of the customers.3. HDFC Bank should try to follow the concept of KYC i.e. KNOW YOURCUSTOMER.

4. The customers face problems in Documentation, so it should overcome.e.g. the passport indicates both the ID and address proof of the customer,which isaccepted by all other banks, but HDFC Bank considered it only for ID proof

of thecustomer but not for the address proof.5. Advertisement and promotion could be through all existing media like print,audio and visual.6. Most of the customers are satisfied with the services and facilities provided

bythe HDFC Bank but according to the view of some customers, the bank is not


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providing services according to their commitments.7. The charges of demand draft should be reduced and local cheques should be

provided on free of cost in all types of current accounts.8. New schemes for customers should introduce time to time.9. Complaints of customers must be handled efficiently and give them the

betterfacilities.The merged entity being the countrys seventh largest bank may have a

challenging phaseahead, as it has to not only weather upward pressure on interest rates andrising yields,

but may also have to integrate Centurion Bank of PunjabThe Axis bank should plan to open up more Priority branches.ICICI bank should focus on private banking, wealth management and

advisory services,and raising low-cost deposits within the retail segment this fiscal.

a research project urmila

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