welfare actitvities by banking sectors to their employees

7/27/2019 welfare actitvities by banking sectors to their employees

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A

PROJECT REPORT

ON

What Type Of Welfare ActivitiesExtended To Employees By Various

Banking Sector

SUBMITTED TO

Punjab Technical University, Jalandhar

In partial fulfillment of requirements for degree ofMASTERS OF BUSINESS ADMINISTRATION (M.B.A.)

Submitted To: Submitted By:

Mr.Tarun Arora Anu Puri

(Lec. In PTU )


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ACKNOWLEDGEMENT

The Research onWHAT TYPE OF WELFARE

FACILITIES EXTEND TO EMPLOYEES BY VARIOUS BANKING

SECTOR.I would like to add a few heartfelt words for the

people who at various stages of the project development

helped me by their valuable guidance.First and foremost I would like to pay my sincere

gratitude which I owe to MR. TARUN ARORA (LEC.

MBA) for their valued help and guidance which they gave

me when I needed it the most. It was only due to their

sincere help and efforts that I was able to end up with this

project.

Last but not the least; I would like to pay our

gratitude to my PARENTS, without their help and blessing

I cant take a single step in right direction.

ANU PURI


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PREFACE

ONE CAN LEARN MORE ABOUT A ROAD BY TREVELLING IT,THAN BY CONSULTING ALL THE MAPS IN THE WORLD

As a part of degree of M.B.A, every student has to undergo for

final project research in a Commercial organization. With the help

of this research students come to know that how the academic

knowledge is applied in actual business situation. They also come

to know about the working conditions under which they will have

to work in near future.

InMY FINAL RESEARCH PROJECT REPORTI studied

WHAT TYPE OF WELFARE FACILITES EXTENDED TO

EMPLOYEES BY VARIOUS BANKING SECTOR. We must

forewarn the readers that this project is not a work of excellence by

a scholar. It is a student attempt to watch, record, analyze and

understand the business activities a by applying his/her theoretical

knowledge and concepts. Even then we dare to say that we made

the best possible attempt to accomplish this work.


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CONTENTS

CHAPTER

No.

PARTICULARS

I.

II.

III

ACKNOWLEDGEMENT

PREFACE

INTRODUCTION

MEANING SCOPE OF WELFARE

SIGNIFICANCE OF WELFARE

TYPES OF WELFAREAGENCIES FOR WELFARE

WELFARE SCHEMS OF DIFFERENT BANKS

RESEARCH METHODOLOGY

OBJECTIVES OF RESEARCH

LIMITATIONS

DATA ANALYSIS AND INTERPRETATION

RECOMMENDATIONS

CONCLUSION

BIBLIORAPHY


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MEANING AND SCOPE OF WELFARE

Employee welfare is a comprehensive term including various services,


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benefits and facilities offered to employees by the employer. Though such

generous fringe benefits the employer makes life worth living for

employees. The welfare amenities are extended in addition to normal wages

and other economic rewards available to employees as per the legal

provisions. Welfare measures may also be provided by the government,

trade unions and non government agencies in addtion to the employer. The

basics purpose of lavour welfare is to enrich the life of employees and keep

them happy and contended. Welfare measures may be both statutory and

voluntary. Lavour laws require the employer to extend certain benefits to

employees in addition to wages. Voluntary benefits are the result of

employers generosity, enlightenment and philanthropic feelings.

DEFINITION

According to the Lavour Investigation Committee (1946), Employee

welfare means anything divine for intellectual, physical, moral and

economic betterment of the workers, whether by employers, government or

by other agencies, over and above what is laid down by law or what is

normally expected on the part of the contracted benefits for which workers

may have bargained.

SCOPE OF EMPLOYEE WELFARE


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The Employee investigation committee: Anything done for

intellectual, physical ,moral and economic betterment of the

employees, whether by employees, by government or by other

agencies over and above what is laid down by law, or what is

normally expected on the part of the contracted benefits for which

employees may have bargained.

The committee on labour welfare: Today, welfare is generally

accepted by employees. The state steps in to widen the area of

applicability only. Welfare is being looked at as a social right of

workers. The committee described it as social security measures thatcontribute to improve the conditions under which workers employed

in India. Employee welfare includes both statutory as non-statutory

activities under taken by employers, trade unions and both the central

and state governments for the physical and mental development of

workers.

Labour Welfare Officer:

The factories Act, Plantation Labour Act

and mines Act provide for the appointment of one or more Welfare

officers. According to the Plantation Labour Act,in every plantation

wherein 300 or more workers are ordinarily employed, The employer

shall Employee such number of welfare officers as may be

prescribed.

SIGNIFICANCE OF EMPLOYEE WELFARE


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1. Welfare facilities provide better physical and mental health to the

workers and make them happy.

2. Welfare facilities like housing, medical benefits, education and

recreation facilities for the workers families help to create contended

workers.

3. Improvement in material, intellectual and cultural conditions of life

protects workers from social evils like drinking, gambling etc.

4. Enables workers to have a richer and more satisfying life.

5.Raises the standard of living of the workers by indirectly reducing the

burden on their pocket. Welfare measures will improve the physical and

psychological health of employees, which in turn, will enhance their

efficiency and productivity.

6. Absorbs the shocks injected by industrialization and urbanization on

employees.

7. Promotes a sense of belonging among employees, preventing them fromresorting to unhealthy practices like absenteeism, labour turnover,

strike, etc. Welfare work makes the service in mills more attractive to

employees. It improves the relationship between employers and

employees.

Types of Welfare Facilities

Welfare services may broadly classified into two categories:


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i) Intramural activities which are provided within the establishment

latrines and urinals, crches, rest centers, canteens uniforms,

library, medical aid, subsided food, allowance etc.

ii) Extramural activities which are under taken outside the

establishment such as family planning, child welfare, cooperative

stores, credit societies, vocational guidance, holidays homes, leave

travel facilities, transport to and from the place of work etc.

Intramural and Extramural Welfare Activities: ILO

Intramural Extramural

Drinking water

Toilets

Crches Washing and bathing facilities

Rest shelters

Uniforms and protecting clothing

Recreation facilities

Canteens

Subsidized food

Medical aid

Housing

Education facilities

Maternity benefits

Transportation

Sports facilities

Leave travel

Vocational training

Holiday homes

Cooperative store

Social insurance

Labour welfare Work may also categories into two categories:

i) Statutory welfare work comprising the legal provisions in various

pieces of labour legislation.


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ii) Voluntary welfare work includes those activities, which are

undertaken by employers for their workers voluntarily. Many

employers nowadays offer, the flowing welfare amenities voluntarily:

I) Education: A scheme of workers education was envisaged on an all

the scheme had four main objectives: India basis by the government

of India, way back in 1957.

To develop strong unions through trained officials and more

Enlightened members.

To develop leadership from the rank and file.

To equip organized labour to take its place in a democratic society

and discharge its social and economic function.

To promote, among workers, a greater understanding of the problems

of there economic environment and there privileges and obligation as

union members and officials and as citizens.

II) Housing: In view of acute shortage of housing accommodation in

cities industrial housing is an important part of employee welfare in

India. An industrial housing scheme was introduced in 1952. Under

this scheme, the Central Government provides loans and subsidies

for the construction of houses for industrial workers. Low Income

Housing Scheme and a Special Housing Scheme for displaced

persons have also been introduced. The National Commission on

Labour recommended the government should take the major

responsibility For housing. Fiscal and monetary incentives should

be provided.

III) Transportation: With the growth of industries, the distance between

the workplace and residence of worker has increased considerably. It


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is therefore, necessary to provide proper transport facilities to and from

the factory . Such facilities will reduce strain and absenteeism. The

Committee On Labour Welfare recommended the provision of

adequate transport facilities to workers to enable them to reach there

workplace without loss of much time and without fatigue.

Employers should also advance loans for purchase of bicycles,

scooters etc., by employees. In undertaking where transport are not

provided, some conveyance allowance mutually agreed upon between

the employer and the employees should be paid.

IV) Recreation: Recreation in the form of music, art, theatre, sports and

games can play an important role in the physical and mental growth

of employees. The Committee on labour Welfare recommended that

State governments and trade unions should take the initiative and

combine their efforts to provide a minimum number of sports and

Recreation to keep the labour force fit and healthy. Excursions,youth

Clubs and holiday homes can be provided for employees.

V) Other facilities: These are basically intended to improve the comfort

Level of workers while at work and include the following:

Canteen, restrooms and lunchrooms: Canteens established inside

Factories generally offer food at subsided rates. In modern

Organization, food courts offering a variety of continental and inter

Continental cuisine has become quite popular in recent times.


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Washing facilities, medical aid leave travel concessions: Most

factories have first-aid facilities to care of minors injurious.

Reimbursement of medical expenses actually incurred is also

increasingly favoured nowadays.

Consumer cooperative stores: The Indian Labour Conference in 1963

recommended the setting up of consumer cooperative stores in all

industrial establishments including plantations and mines employing 300

or more workers.


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Agencies for welfare work

There are several agencies involved in labour welfare work Besides central

and state governments, employers, unions and social organizations work

agencies for extending welfare facilities to the workers.

Central government

The central government tries to extend its helping hand through various Acts

covering the safety, health and welfare of workers. The Factories Act, 1948,

Mines Act, 1952, Shipping Act, 1948, Plantation Labour Act,1951, Motor

Transport Workers Act 1961, Employees State Insurance Act,1948

etc.provide for canteens, crches, restrooms, washing facilities ,etc. Labour

welfare officers oversee the welfare activities closely and ensure justice to

workers.

State governments

Governments in different states and union territories offer welfare facilities

to workers. In Assam a statutory welfare fund is created for offering medical

educational, recreational and other facilities to plantation workers. In

Gujarat, Maharashtra, Punjab and Karnataka, welfare boards administer

Labour welfare centers.

Employers

Enlightened employers TISCO, Hindustan Lever, Godrej, L&T, Siemens,

Voltas, Bajaj Birals Sandoz, Philips , HMT LIC, BHEL, Air India,RCF etc.

have undertaken welfare activities in the interest of workers. The TISCO

runs a well Equipped hospital in Jamshedpur, supported by health centers

and dispensaries in different residential Localities.Family planning clinics,

credit societies, gymnasiums, clubs, crches, canteens, schools are also set

by the TISCO for the benefits of workers.


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Trade Unions

The contribution of trade unions in India towards labour welfare activities is

not significant. Poor finances, multiple unionism, often come in the way of

undertaking labour welfare work enthusiastically. There are certain

exceptions to this like the Ahmedabad Textile Labour Association,

Mazdoor Sabha of Kanpur, Railwaymens Union and the Indian Federation

of Labour.These labour organizations have provided welfare facilities to

workers such running schools, libraries, sports centers, cooperative stores

recreation and cultures centers, legal cells labour journals, etc.

Other Agencies

In addition to the above social service organizations such as The Bombay

Social Service League Assam Seva Samity, etc. also provide services to the

working class on a voluntary basis.


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PUNJAB NATIONAL BANK

Punjab National Bank was established in 1895 at Lahore. PNB has the

distinction of being the first Indian Bank to have been started solely with

Indian capital. In 1969, PNB was nationalized along with 13 other banks.

PNB serves over 3.5 corer customers and has the largest branch network in

India- 4062 branches and 447-extension counters spread all over the country.

Punjab National Bank was established in the year of 1944 in Mandi.A S

Thakur is the branch manager and 27 employees working in it. There are

two branches of PNB in Mandi.One branch situated is near the Sanjivan

hospital and other one is near the Mandav hospital. PNB provided ATM

facilities to there custemers. PNB provided following welfare activities to

there employees.

Welfare Schemes Of Bank:

Canteen facilities: To enable the banks employees to procure better

quality of tea, coffee, snacks etc., at the place of their work, small space has

been provided at banks premises, wherever possible and other places such

items are provided from outside.

Reimbursement of Medical Expenses: Under the scheme reimbursement

is provided to the extent of 90% of expenses incurred on Hospitalization and

not reimbursed under the Hospitalization schemes of the bank. The members

of their families are expected to secure admission in a government hospital

or any private hospital. The reimbursement will be restricted to the


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percentage applicable to the dependent family member,i.e. 75% of the

charges applicable to the lowest paying bed in such hospitals.

Scholarship facility: PNB provided scholarship for employees children

those who are in a merit list. Bank give 3500 for the merit holders.

Loan facilities:

Housing loan: The bank may grant to an officer confirmed in the Banks

service, a loan for the purpose of land for construction of a house, or

extension or renovation of a house. Bank gives a 1% rebate in interest on the

loan for there employees.

Education Loan: Education loan to be sanctioned to wards of officers staffby the branch within their powers. Prior permission from vigilance

department is required only when the officer employee stands as guarantor

for education loan to his/her dependent ward.

Conveyance Loan: The bank may grant to an officer confirmed in the

banks service, loans for the purpose of motor car or other conveyance,

subject to such terms and conditions as the Board may decide either

generally or with reference to any particular loan having regard to the

guidelines of the Government.

Maintenance & House Keeping Expenses: Besides the schemes being

administered through the Bank and the Trust, The Bank is allowing @ Rs.

900-per employee annually for Maintenance and House Keeping.

News Paper Bill Reimbursement: Bank give reimbursement of News

paper bill to there employees when they take news paper facility at

residence.

Petrol / Conveyance Expenses Reimbursement: Employees are allowed

reimbursement for using their own vehicle for use of official purpose.


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Interest on Deposit: The Bank may allow 1% additional rate of interest

over its ruling rate of on Fixed Deposits, Saving deposits and Recurring

Deposits to employees individually or jointly with any member with any

member of his family.

Group Personal Accident Insurance policy: The bank has taken an

Insurance Policy for providing Personal Accident Insurance cover to all its

employees against Accidental Death and Permanent Total disability during

and after office hours.

Drinking Water Facility&Toilets: The Bank has provided cool drinking

water facility to their employees and separate toilets for male and female

employees.

Facility of Holiday Homes: To provide clean and hygienic boarding and

lodging facilities to the employees of the Bank at Hill Stations and other

centers of tourist attraction, Holiday homes have been permitted to be taken

on rent. The holiday Homes are being managed by Union and Association in

the Bank.


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BANK OF BARODA

Bank of Baroda was founded by Maharaja Sayajirao gaekwad of Baroda on

July 20, 1908 with a paid up capital of Rs. 10 Lakhs. Since then bank has

traversed an eventful and successful journey of almost 100 years today

Bank of Baroda has a network of 2737 branches include 39 overseas

branches spread over 20 countries. Bank of Baroda took the lead in shifting

from manual operating systems to a computerized work environment.

Today, the Bank has 1918 computerized branches, covering 70% of its

network and 91.64% of its business. Bank of Baroda open its branch in the

year of 1976 in Mandi.Mr. R K Thakur is a Branch manager and 9

employees working in it. This Bank is situated near the Indira Market.Bank

of Baroda provided ATM facility to there customers.The bank provided

following welfare activities to there employees,

Reimbursement of Medical Expenses: Under the scheme reimbursement is

provided to the extent of 100% of expenses incurred on Hospitalisation and

not reimbursed under the Hospitalisation schemes of the bank. The members


or any private hospital. The reimbursement will be restructed to the



Loan facilities:




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Education Loan: Education loan to be sanctioned to wards of officers staff

by the branch within their powers. Prior permission from vigilance




banks service, loans for the purpose of motor car or other conveyane,




Drinking Water Facility &Toilets: The Bank has provided cool drinking


employees.

House Maintenance: Besides the schemes being administered through the

Bank and the Trust, The Bank is allowing @ Rs. 750 per employee

annually for Maintenance and House.

News Paper At Residence: All officers including Newly recruited /Promote

Officers whether confirmed or on probation shall be eligible for News paper

at residence facility with their entitlement.





the Bank.


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been provided at banks premises, wherever possible and in those branches

Where strengths of employee below 26 there this facility is not provided but

instead of it bank give 50 rupees per month to each employee.

Scholarship facility: Bank provided scholarships to employees children

those who are in a meritlist.Bank give 500 to 2000 on the performance of

children.


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ORIENTAL BANK OF COMMERCE

At the national level the bank was establish on 19th

February 1943 at Lahoreas a private sector bank, floated by Thapar Group. However, actual

operation was started in the year, 1944 as a regional bank in northern India.

After independence, it had to shift its base from Lahore to Amritsar and

subsequently to New Delhi in 1951. Bank was establish its branch in Mandi.

It is situated near the Town Hall. 10 employees working in it and bank

provided 28 holydays annually to there employees. Bank provided following

welfare activities to their employees:




items are provided from outside. A sum of Rs. 440/- per month is

reimbursed to the employees for this purpose.

Adhoc Grant on Death: In case an employee dies in harness, a grant of Rs.

1,50,000/- irrespective of the Cadre of the deceased employee is paid to his

legal heirs to enable the dependants of the deceased employees to meet the

immediate urgent financial needs.

Education Subsidy: Education Subsidy will also be available for pursuing

correspondences courses from registered/Recognized institutes. All request

whether for Education Subsidy or any type of grant from the Trust are to be

sent through respective regional offices.


provided to the extent of 90% of expenses incurred on Hospitalisation and


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not reimbursed under the Hospitalisation schemes of the bank. The members


or any private hospital. The reimbursement will be restructed to the



Loan facilities:




loan for there employees.Education Loan: Education loan to be sanctioned to wards of officers staff

















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the Bank.



Honors on Completion of 25 years of services: Employees with 25 years

of unblemished service are eligible for this award. The term unblemished

service would mean that no penalty/ punishment has been imposed upon

him/ her during the immediately preceding 3 years or rigor of penalty was in

operation, whichever was longer. The award could realized after the

debarment period was over. The award may be in the form of an article like

wrist watch, silver or any other article of employees choice costing an

amount not exceeding Rs. 2000/.

OBC- Parivar Health Care Scheme: In order to ensure good health and

carefree post retirement life of its employees, the bank has entered into a

memorandum of understanding with the United India Insurance Company

Ltd. and taken an insurance policy effective from January 2007 under which

post-retirement medical insurance cover is made available to all employees

of Oriental Bank of Commerce.



employees.


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House Maintenance: Besides the schemes being administered through the

Bank and the Trust, The Bank is allowing @ Rs. 750 per employee

annually for Maintenance and House.



at residence facility with their entitlement




and after office hours. The bank is paying the premium for the said policy.

Insurance coverage

S.

No.

Designation

/Scale/Category

Cover Available

(Rs in Lakh)

1 CMD/ED 10.00

2 Scale VII & VI 7.50

3 Scale V& IV 5.50

4 Scale III & II 3.50

5 Scale I 3.00

6 Nonsubordinate 2.00

7 Sub- Staff 2.00

8 Clerical 2.00


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Annual Medical Health Checkup: As a measure of staff welfare and in

order to timely detection of any serious ailment and help the employees to

take proper care of self and their Spouse health well in time Annual Health

Checkup is provided to all full time employees of the bank who have

attended 40 years of age.

STATE BANK OF INDIA


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The origin of State Bank Of India date back to 1806 when the Bank of

Calcutta was established. In 1921, the Bank Of Bengal and two other

presidency banks were amalgamated to form Imperial Bank Of India. In

1955, the controlling interest in the imperial Bank of India. In 1955, the

Reserve Bank Of India acquired the controlling in the Imperial Bank Of

India and the State Bank Of India came into existence by an Act of

Parliament as successor to the Imperial Bank Of India. State Bank of India

(SBI) is Indias largest commercial bank. SBI has a vast domestic network

of over 9000 branches and commands one fifth of deposits and loans of all

scheduled commercial banks in India. SBI establish its branch in the year of

1956 in Mandi.It is situated near Gandhi Chowk. Mr. Madan Sood is the

branch manager and 38 employees working in it. Bank provided 32 holydays

to there employees in a year. Bank also provided ATM facilities to their

customer. The head office of SBI is situated in Mumbai. The State Bank

Group includes a network of eight banking subsidiaries and several non-

banking subsidiaries offering their services. The eight Banking subsidiaries

are:

1. State Bank Of Bikaner And Jaipur

2. State Bank Of Hyderabad

3. State Bank Of India

4. State Bank Of Indore

5. State Bank Of Mysore

6. State Bank Of Patiala

7. State Bank Of Saurashtra

8. State Bank Of Travoncore

Welfare Schemes Of The Bank:


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Facility of Holiday Homes: To provide clean and hygienic boarding

and lodging facilities to the employees of the Bank at Hill Stations and

other centers of tourist attraction, Holiday homes have been permitted to

be taken on rent. The holiday Homes are being managed by Union and

Association in the Bank.

Maintenance & House Keeping Expenses: Besides the schemes being

administered through the Bank and the Trust, The Bank is allowing @ Rs.

950-per employee annually for Maintenance and House Keeping.


those who are in a meritlist. Bank gives scholarship to employees children

who take 60% marks or above.



employees.












provided to the extent of 100% of expenses incurred on Hospitalization and

and not reimbursed under the Hospitalization schemes of the bank. The


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members of their families are expected to secure admission in a government

hospital or any private hospital. The reimbursement will be restricted to the

percentage applicable to the dependent family member, i.e. 75% of the






Loan facilities:

Housing loan: The bank may grant to an officer confirmed in the Banksservice, a loan for the purpose of land for construction of a house, or















Education Subsidy: Education Subsidy will also be available for pursuing

correspondences courses from registered/Recognized institutes. All request


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whether for Education Subsidy or any type of grant from the Trust are to be

sent through respective regional offices.

UCO BANK

UCO Bank is commercial bank established in 1943. The idea to establish the

bank was first conceived by G D Birla the famous industrialist. The idea was


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culminated on the 6th of January 1943 when the United Commercial Bank

Ltd. was born with its registered and head office at Kolkata. In July 1969,

the Bank was nationalized and 100 percent ownership was taken over by the

government of India. In 1985, an Act of Parliament changed the name of the

Bank to UCO BANK. Today, UCO Bank has nearly 2000 branches and 34

regional offices spread all over India.UCO Bank has witnessed many ups

and downs since its establishment. This bank is situated near the School

Bazaar. Mr. Ram Kishan is Branch Manager of UCO bank and 10 other

employees working in this branch. Bank gives 26 holydays in a year to their

employees. Bank provides following welfare activities to there employees:









the Bank.



at residence facility with their entitlement



employees.




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those who are in a merit list. Bank gives scholarship to employees children

who take 60% marks or above









INDIAN OVERSEAS BANK


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employees.





or any private hospital. The reimbursement will be destructed to the




those who are in a merit list.

News Paper Bill Reimbursement: Bank give reimbursement of News

paper bill to there employees when they take news paper facility at

residence.

Loan facilities:



extension or renovation of a house. Bank give a rebate in interest on the










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Canara Bank was founded in 1906 by late sh. Ammembal Subba Pai. The

Bank was initially named as Canara Bank Hindu Permanent Fund. It

blossomed into a limited company in 1910 and was renamed as Canara

Bank Ltd. In 1969 the Bank was nationalized and there after to be known as

Canara Bank. Today Canara bank is one of the premier banks in the country

with a network of 2513 branches spread all over the country. The bank was

established its branch in 1985 at Mandi. It takes over Luxmi Commercial

Bank which is private sector bank. Mr. Ramesh Lal Attri is the branch

manager of Canara Bank and 9 other employees working in it. Bank gives

32 holydays to their employees. This branch is situated near Mandav

Hospital. Bank also gives ATM facility to their customers. Bank provided

following facilities to their employees:

Welfare Schemes of the Bank:














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is provided to the extent of 90% of expenses incurred on Hospitalization and



or any private hospital. The reimbursement will be destructed to the



News Paper Bill Reimbursement: Bank give reimbursement of Newspaper

bill to their employees when they take news paper facility at residence.





the Bank.


reimbursement for using their own vehicle. Bank gives Rs. 250 as a

reimbursement to employees for using their own vehicle.

Loan facilities:



extension or renovation of a house. Bank gives a rebate in interest on the







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STATE BANK OF PATIALA

The rich heritage of state Bank Of Patiala dates back to the year 1917, when

it was founded by Late Highness Bhupinder Singh, maharaja of erstwhile

Patiala state. The Bank then known as the Patiala State Bank. In 1948 the

Bank was reorganized and brought under the control of Reserve Bank Of

India. Another milestone in history of the Bank was its becoming a

subsidiary of the State Bank Of India on 1st April, 1960 when it was named

as the State Bank Of Patiala. State Bank of Patiala established its branch in

1993 at Mandi. Mr. Bhuri Singh is the Branch manager of State Bank Of

Patiala and 11 other employees working in it. The branch is situated near

Indira Market. Bank also provided ATM facility to their customers. Bank

provided following welfare facility to their employees:





items are provided from outside. Where canteen facility is not provided,

bank gives Rs.500 to their employees instead of it.


those who are in a merit list. Bank gives scholarship to employees children

those are in general category and got 60% marks in Board Examination and

50% for reserve categories.

Loan facilities:


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extension or renovation of a house. Bank gives a rebate in interest on the



















the Bank.






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is provided to the extent of 100% of expenses incurred on Hospitalization

and not reimbursed under the Hospitalization schemes of the bank. The

members of their families are expected to secure admission in a government

hospital or any private hospital. The reimbursement will be destructed to the

percentage applicable to the dependent family member, i.e. 70% of the



reimbursement for using their own vehicle. Bank gives Rs. 250 as a

reimbursement to employees for using their own vehicle.

News Paper Bill Reimbursement: Bank give reimbursement of Newspaper

bill to their employees when they take newspaper facility at residence.



employees.


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HDFC BANK

HDFC Bank was incorporated in August 1994 in the name of HDFC Bank

Limited with its registered office in Mumbai, India. The commerced

operations as a Scheduled Commercial Bank in January 1995. HDFC Bank

has a network of over 531 branches spread over India. All the branches

linked on an online real time basis. Customers in over 120 locations are

served through telephone Banking. HDFC Bank was established its branch

on 13th

December 2006 in Mandi, Himachal.Mr. Vijay Thakur is the branch

manager of the bank and 10 other employees working in it. Bank gives 30

holydays to their employees. This branch also provided ATM facility to their

customers. This bank is situated near BSNL Exchange Office. Bank gives

following welfare facility to their employees:




been provided at banks premises. Bank provided lunch to their employees

. Outing: Bank organizes a trip after every six months to their employees.

This trip organize on Sunday or other holydays. All the expenditure paid by

the bank.



employees.

Interest on Deposit: The Bank may allow additional rate of interest over its

ruling rate of on Fixed Deposits, Saving deposits and Recurring Deposits to


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employees individually or jointly with any member with any member of his

family.





or any private hospital.






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ICICI BANK

ICICI Bank is Indias second largest bank. ICCICI was formed in 1955 at

the initiative of the World Bank, the government of India and representative

of Indian Industry. The Bank has network of about 573 branches and

extension counters and over 2000 ATMs.ICICI was originally promoted in

1994 by ICICI Limited an Indian Financial Institution, and was its wholly

owned Subsidiary. ICICI Bank setup its international banking group in fiscal

2002 to cater to the cross border needs of clients and leverage on its

domestic banking strengths to offer products internationally. Today, ICICI

Bank offers a wide range of banking products and financial services to

corporate and retail customers through a Varity of delivery channels and

through its specified subsidiaries. ICICI bank establishes its branch on 15th

of December 2006 in Mandi. Mr. Pranshat Aahuja is the branch manager

and 10 other employees working in it. Bank gives 25 holydays in a year to

their employees. This branch also provided ATM facility to their customers.

Following are the welfare activities of the bank:





items are provided from outside. Bank gives token as a lunch to their

employees of Rs. 950.

Get to gather: Bank gives facility of Get To Gather to their employees in

every month. All the expenses of this get to gather paid by the bank.


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Outing: Bank organizes a trip after every six months to their employees.

This trip organize on Sunday or other holydays. All the expenditure paid by

the bank.







employees.

Interest on Deposit: The Bank may allow additional rate of interest over its

ruling rate of on Fixed Deposits, Saving deposits and Recurring Deposits to

employees individually or jointly with any member with any member of his

family.





or any private hospital.


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RESE

ARCH

METHODOLOGY


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RESEARCH METHODOLOGY

RESEARCH METHODOLOGY: it is a way to systematically solve the

research problem. The research methodology includes the various methods

and techniques for conducting a research. Research is the systematic design,

collection and analysis and reporting of data and finding a solution to a

specific situation or problem. D.Slesinger and M.Stephenson in the

encyclopedia of social sciences defines Research as the manipulation of

things, concepts or symbols for the purpose of generalizing to extend,

correct or verify knowledge, whether that knowledge aids in construction of

theory or in the practice of an art.

Research is, thus, an original contribution to the existing stock of knowledge

making for its advancement. The purpose of research is to discover answers

to the questions through the application of scientific procedures. My project

has a specified framework for collecting data in an effective manner. Such

framework is called Research Design. The research process followed by

me consists of the following steps:

DEFINING THE PROBLEM AND RESEARCH OBJECTIVES: It is

said, a problem well defined is half solved. The step is to define the

project under study and deciding the research objective. The project


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undertaken by me relates to the welfare activity extended to employees by

various banking sector.

The main objectives of research are:

1. To gain familiarity with phenomena or to achieve new insights into it.

2. To portray accurately with the characteristics of a particular industrial

situation of a group.

3. To determine the frequency with which something occurs or with

which it is associated with something else.

4. To test hypothesis of a casual relationship between variable.

DEVELOPING THE RESEARCH PLAN: The second stage of this study

consists of the most efficient plan for gathering the relevant data. The

research is descriptive in nature. All efforts have been made to meet various

different sections of the employees.

SAMPLING PLAN: The sampling plan calls for three decisions.

SAMPLING UNIT: Who is to be surveyed?

The target population must be defined which has to be studied.

It is necessary to develop a sampling frame so that everyone in

the target population has an equal chance of being taken.

SAMPLE SIZE: How many people have to be surveyed?

Sample refers to the total number of items or units in any field

of enquiry. Generally large sample gives more reliable results

than small samples. The sample size of my study consisted of

50 respondents. The sample has been drawn from employee


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having different post and age group. The selection of the

respondents has been done on the basis of simple random

sampling.

DATA COLLECTION: In my project two types of data has been

considered i.e. Primary data and Secondary data. Major emphasis is on

gathering the primary data. The secondary data has been used to make things

more clear.

Primary Source: Primary data are those, which are collected afresh and for

the first time, and thus happens to be original in character. I have conducted

survey through Questionnaire.

Secondary Source: Secondary data are those which already been collected

by someone else and which already had been passed through the statistical

process. I have collected secondary data through Cos brochures and

websites.

DATA ANALYSIS AND INTERPRETATION: After collecting the data

the analysis of data has been done through various statistical tools and

techniques. The analysis of data requires a number of closely related

operations such as establishment of categories, the application of these

categories to raw data through coding, tabulation and drawing statistical

inferences. The unwieldy data should necessarily be condensed into few

manageable groups and tables for further analysis. Thus, it helps to classify

the raw data into some purposeful and useable categories.


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Coding operations is done at this stage through which the categories

of data are transformed into symbols that may be tabulated and counted.

Editing is done to improve the data for coding. After this Tabulation of

data is done where in classified data are put in the form of tables. After

tabulation the analysis work of my project is based on the computation of

various statistical formulae-values, pie charts and graphs. After analysis

interpretation has been done i.e. to explain the findings on the basis of

analysis.

OBJECTIVES OF RESEARCH

Primary objective is to study various welfare activities extended to

employees by various banking sector.

To know the employees perceptions and their satisfaction towards

various welfare activities and services provided by Banks.

To suggest necessary recommendation improve the existing system.

To find out that the welfare facilities increase the performance of

employees or not.

To find out that welfare activities increase the employees standard of

living or not.

To find out that both government and private sector provide same

welfare activities to their employees.


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LIMITATIONS OF THE STUDY

While doing the survey, many things have been faced which acted

as a limitation rather. Had these interventions not been there, the

project would have been a much bigger success that it had actually

been. Here are some of the main limitations:

The survey done could not cover whole of the employees. Thus,

comparatively less survey was done.

As the sample taken was small in size, it may not be necessarily

true.

There is every possibility that the respondents who answer the

questionnaire might be biased.

There has been limited access to secondary data pertaining to

banks performance in other regions or any other information has

been another problem in finding on correct response.


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AND

INTERPRETATIONINTERPRETATIONKeeping in mind the objectives of the study, the survey was being done

and following interpretation was being drawn.

1. Are you satisfied the welfare facilities that are provided by the

Banks?

Objective: -To check the satisfaction levels of employees, this question is

asked. As there are a number of welfare facilities provided to employees by

various banking sector.

3.1 No of employees satisfied with welfare facilities.

Yes No

38 12


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Interpretation

The evident from above finding showed that out of 50 respondents, 38

respondents are satisfied of the welfare facilities of the banks and rest of the

respondents i.e.12 is not satisfied.

2. Do you think that welfare activities increase the standard of leaving?

Objective: -To knows that welfare activities increase the standard leaving of

employees.

3.2 Increase the standard of leaving of employees.

Yes No

38 12

5.1 Satisfaction level of

Employees

76%

24%

Yes No


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Interpretation

The above figure depicts that out of 50 respondents, 38 respondents are think

that welfare activities increase the standard of leaving and rests of the

respondents i.e.12 are not agree with this.

3. Do you think that private banking sector will affect the public

banking sector in future?

Objective: - To know the affect of private banking sector over public

banking sector in future. As we know that more and more customer moving

towards private sector because of more facilities and service provided by

private sector.

3.3 Affect of private banking sector over public banking sector.

Yes 16

No 30

Cant say 04

5.2 Increase the satisfactions of

employees

76%

24%

Yes No


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Interpretation

As the above figure depicts that only 16 respondents are think that private

banking sector will affect the public banking sector in future and

30respondents not satisfied and rest of 4 cant say anything.

4. Do you want to add more facilities in your welfare?

Objective: -To knows the willingness of employees to add more facilities in

their welfare. As there are a number of facilities bank provided to their

employees but my object to ask the question what employees want in reality.

3.4 Willingness of employees to add more welfare facilities.

Yes No46 4

3.3 Affect of private banking sector

over public banking sector

60%

32%

8%

No Yes

yY

Cant say


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Employees willingness to add more

facilities in their welfare

92%

8%

Yes No

Interpretation

The above figure depicts that most of respondents i.e. 46 are

want to add more facilities in their welfare activities and rest of i.e. 4 are

satisfied.

5. If you want to add more facilities then what type of facilities you want

to add in your welfare?

Objective: - To know the employees preference regarding to add more

welfare facilities.

3.5 Preference regarding various welfare facilities to add in welfare.

Free residence

facility

14

Free loan facility 09

Rebate in income

tax

18

Increase in vehicle

allowance

10


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Interpretation

As the above evident shows that as most as 18 of the total respondents prefer

to add rebate in income tax, 14 prefer to add free residence facility, 10 prefer

increase in vehicle allowance and rest 9 prefer to free loan facility.

3.5 Preference regarding add more

welfare facility

27%

18%35%

20%

F R F F L F

R I T I V A


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6. Do you agree that private banking sector provide good working

environment in comparigion of public banking sector?

Objective: -To knows the employees perception towards working

environment, which is provided by bank.

3.6 Employees perception towards working environment of private banking

sector or public banking sector.

Yes No12 38


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Interpretation

The above figure depicts that out of 50 respondents, 12 respondents are

agree that private banking sector provide good working environment to their

employees in compression of public sector and rest of 12 are not satisfied.

7. Do you think that welfare facilities increase the performance of

employees?

Objective: -To knows that how many employees are agreeing that welfare

facilities increase the performance of employees.

3.7 No of employees agree that welfare facilities increase the performance.

Yes No43 7

3.6Employees perception towards

Working environment

76%

24%

No Yes


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No of employees agree that welfare

facilities increase performance

86%

14%

Yes No

Interpretation

The above figure depicts that out of 50 respondents 43 are

agree that welfare facilities increases the performance of employees and rest

of 7 are not agree.

FINDINGS OF THE STUDY

As far as satisfaction level most of employees are satisfied from

welfare facilities of the banks and they think that it gives motivation

to work more and increase the standard of leaving.

This clearly comes out the survey conducted that most of employees

think that private banking sector will not affect the public banking

sector in future.

It has clearly come out that most of the employees dont agree that

private banking sector provide good working environment to theiremployees in comparison of public sector.

It has hardly come out that if they want to add more facilities then

most of employees want to add rebate in income tax and after that

they want to add free residence facility.


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It has also comes out that most of employees think that welfare

facilities increases the performance of employees

It also find out that maximum banks provide same facilities to their

employees but there is a difference of amounts.


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CONCLUSION

Banking sector provide lot of facilities to their employees. Most of Banks

provide same facilities to their employees. The main reason of these welfare

facilities to increase the performance of employees and give motivation to

them and these facilities also increase their standard of leaving. Employees

are the backbone of any organization and its organizations duty satisfied

them. To increase the satisfaction level of employees both public and private

banking sector provide lot of facilities to employees. All Banks are bless to

the mankind which has awakened many new hopes and aspirations for

humankind a vision of a new, just equitable and fair global order governed

by a time tested value system based on a noble human passion of love,

compassion, tolerance and mutual understanding.


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It is a great challenge to all the banks to maintain employees interest in their

jobs and it is very difficult task because of entering new banks in market and

each bank give more facilities to their employees. These facilities throws

before employees a daunting challenge i.e. the utilization of these facilities

to create a brave new world in which a qualitative and a clear change

between yesterdays and tomorrows can easily perceived.

I have done a detailed analysis regarding the welfare facilities extended to

employees by various banking sector set Mandi and concluded that most of

the Banks provide same facilities to their employees and they are satisfied

from it. About the affect of private banking sector over public sector in

future maximum employees dont agree with it.

From the SWOT analysis, I conclude that there are still a lot of weaknesses

in some banks but as it is a growing banks are working hard to overcome

these weakness and threats.

All Banks are set the strategies and mission after proper vision and is

achieving the targets by working in co-operative and co-coordinated manner

and giving the employees well services and facilities and making work easy.

So, I would like to conclude by saying that to increase the satisfaction level

of employees all Banks provides good welfare facilities to them.


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RECOMMENDATIONS

To increase the standard of living of employees all banks provide number of

welfare facilities to their employees. As we know that employees are the

backbone of a organization so give satisfaction to them is major objective of

the organization. Banks gave many facilities to increase the satisfaction of

employees. These facilities also increase their performance and they are the

valuable assets of the Banks they work as a boundary spanner to work well

banks give them lot of facilities. Banks also provide good working

environment to their employees it gives more satisfaction to them


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2. Do you think that welfare facilities increase the standard of leaving?

(a) Yes (b) No

3. Do you agree that private banking sector will affect the public sector in

future?

(a) Yes (b) No

(c) Other

4. Do you want to add more facilities in your welfare?

(a) Yes (b) No

5. If you want to add more facilities in your welfare then what facility you

want to add?

(a) Yes (b) No

6. Do you think that private banking sector provide good working

environment in comperagion of public sector?

(a) Yes (b) No


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7. Do you agree that welfare facilities increase the performance of

employees?

(a)Yes (b) No

*Thanks for your valuable time and co-operation*

BIBLIOGRAPHY

Officer Diary (2007)

VSP Roa

DR. C B Gupta

K.C. Garge, R.C Chawla Mercantile Law Kalyani Publishers

# Referred web sites: -

www.google.com


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welfare actitvities by banking sectors to their employees

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