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INTRODUCTION

HDFC Bank was incorporated in Aug. 1994 and promoted by

Housing Development Finance Corporation Limited

(HDFC) India's premier housing finance company which also

enjoys an impeccable track record in India as well as in

international markets. HDFC was amongst 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's liberalization of the Indian Banking Industry.HDFC Bank

concentrates in four areas - corporate banking, treasury

management, custodial services and retail banking. It

has entered the banking consortia of over 50 corporates for

providing working capital finance, trade services, corporate

finance and merchant banking. It is also providing

sophisticated product structures, sound advice and fine

pricing mainly in areas of foreign exchange and derivatives,

money markets and debt trading and equity research

through its state-of-the-art dealing room. With its

sophisticated and customer friendly facilities & services

including multi-branch access, ATMs & cluster deposits and

is well positioned to establish a significant niche for itself in

retail banking.

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In Feb. 2000, Times Bank has been amalgamated with the

bank. This is an important milestone in the history of bank as

well as Indian banking sector, being the first merger of two

private sector banks. This adds significant value to bank in

terms of increased branch network, expanded geographic

reach, enhanced customer base, skilled manpower, etc.

Recently HDFC BK & Life Insurance Corporation (LIC) forms

alliance for online facility for payment of insurance premium.

With this facility, LIC policy holders can now pay their

insurance premiums through HDFC Bank's on-line payment

facility. HDFC BK has become the first private sector bank to

be authorized by the Central Board of Direct Taxes (CBDT) as

well as the RBI to accept direct taxes, commencing April 01

2001. The taxes will be accepted at specified branches of the

bank. Also it has announced a strategic tie-up with a

Bangalore-based business solutions software developer Tally

Solutions Pvt (TSPL) for developing and offering products and

services facilitating on-line accounting and banking services

to SMEs (Small and Medium Enterprises).In 2001-02 the bank

was listed on the New York Stock Exchange in the form of

ADS. Each ADS represents 3 equity shares. Consequent to

the issue, the paid up capital of the Bank has increased by

Rs.37.42 crores.

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COMPANY PROFILE

The Housing Development Finance Corporation Limited

(HDFC) was amongst the first to receive an in principle

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approval from the Reserve Bank of India (RBI) to set up a

bank in the private sector, as part of the RBI's liberalization

of the Indian Banking Industry. The bank was incorporated in

August 1994 in the name of HDFC Bank Limited, with its

registered office in Mumbai, India. The bank commenced

operations as a Scheduled Commercial Bank in January

1995.

Promoter

HDFC is India's premier housing finance company and enjoys

an impeccable track record in India as well as in

international markets. Since its inception in 1977, the

Corporation has maintained a consistent and healthy growth

in its operations to remain the clear market leader in

mortgages and banking services in India. Its outstanding

loan portfolio covers over a million dwelling units. HDFC has

developed significant expertise in retail mortgage loans to

different market segments and also has a large corporate

client base for its housing related credit facilities. With its

experience in the financial markets, a strong market

reputation, large shareholder base and unique consumer

franchise, HDFC was ideally positioned to promote a bank in

the Indian environment.

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Business Focus

HDFC Bank's mission is to be a World Class Indian Bank. The

Bank's aim is to build a sound customer franchise across

distinct businesses so as to be the preferred provider of

banking services in the niche segments that the bank

operates in and to achieve healthy growth in profitability,

consistent with the bank's risk appetite. The bank aims to

ensure the highest level of ethical standards,

professional integrity and regulatory compliance.

HDFC Bank's business philosophy is based on four core

values: Operational Excellence, Customer Focus,

Product Leadership and People. The Bank signed a

strategic business collaboration agreement with Chase

Manhattan Bank in February 1999.

Capital Structure

The authorized capital of HDFC Bank is Rs.450 crores. The

paid-up capital is Rs.281.2 crores. The HDFC Group holds

24.5% of the bank's equity while about 13.3% of the equity

is held by the depository in respect of the bank's issue of

American Depository Shares (ADS/ADR Issue). The Indian

Private Equity Fund, Mauritius (IPEF) and Indocean Financial

Holdings Ltd., Mauritius (IFHL) (both funds advised by J P

Morgan Partners, formerly Chase Capital Partners) together

hold about 11.6% of the bank's equity. Roughly 18% of the

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equity is held by FIIs, NRIs/OCBs while the balance is widely

held by about 300,000 shareholders. The shares are listed

on the Stock Exchange, Mumbai and the National Stock

Exchange. The bank's American Depository Shares are listed

on the New York Stock Exchange under the symbol "HDB".

Times Bank Amalgamation

In a milestone transaction in the Indian banking industry,

Times Bank Limited (another new private sector bank

promoted by Bennett, Coleman & Co. /Times Group) was

merged with HDFC Bank Ltd., effective February 26, 2000.

As per the scheme of amalgamation approved by the

shareholders of both banks and the Reserve Bank of India,

shareholders of Times Bank received 1 share of HDFC Bank

for every 5.75 shares of Times Bank. The amalgamation

added significant value to HDFC Bank in terms of increased

branch network, expanded geographic reach, enhanced

customer base, skilled manpower and the opportunity to

cross-sell and leverage alternative delivery channels.

Distribution Network

HDFC Bank is headquartered in Mumbai. The Bank at present

has an enviable network of over branches spread over cities

all across the country. All branches are linked on an online

real-time basis. Customers in 39 locations are also serviced

through Telephone Banking. The Bank's expansion plans

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take into account the need to have a presence in all major

industrial and commercial centre where its corporate

customers are located as well as the need to build a strong

retail customer base. Being a clearing/settlement bank to

various leading stock exchanges, the Bank has branches in

the centre where the NSE/BSE have a strong and active

member base.

The Bank also has a network of almost over networked ATMs

across these cities. Moreover, HDFC Bank's ATM network can

be accessed by all domestic and international

Visa/MasterCard, Visa Electron/Maestro, Plus/Cirrus and

American Express Credit/Charge cardholders. It is the only

bank in India which provides access to all the 3 major

International Card Networks on its ATM network.

Management

Mr. Jagdish Kapoor took over as the bank's Chairman in July

2001. Prior to this, Mr.Kapoor was a Deputy Governor of the

Reserve Bank of India.

The Managing Director, Mr. Aditya Puri, has been a

professional banker for over 20 years and before joining

HDFC Bank in 1994 was heading Citibank's operations in

Malaysia.

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The Bank's Board of Directors is composed of eminent

individuals with a wealth of experience in public policy &

administration and commercial banking. Senior executives

representing HDFC and J P Morgan Partners (formerly Chase

Capital Partners) are also on the Board.

Senior banking professionals with substantial experience in

India and abroad head various businesses and functions and

report to the Managing Director. Given the professional

expertise of the management team and the overall focus on

recruiting and retaining the best talent in the industry, the

bank believes that its people are a significant competitive

strength. 

Technology

HDFC Bank operates in a highly automated environment in

terms of information technology and communication

systems. The entire bank's branches have connectivity which

enables the bank to offer speedy funds transfer facilities to

its customers. Multi-branch access is also provided to retail

customers through the branch network and Automated Teller

Machines (ATMs).

The Bank has made substantial efforts and investments in

acquiring the best technology available internationally, to

build the infrastructure for a world class bank. In terms of

software the Corporate Banking business is supported by

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Flexcube, while the Retail Banking business by Finware, both

from I-flex Solutions Ltd. (formerly Citicorp Information

Technology India Ltd.). The systems are open, scaleable and

web-enabled.

The Bank has prioritized its engagement in technology and

the internet as one of its key goals and has already made

significant progress in web-enabling its core businesses. In

each of its businesses, the Bank has succeeded in leveraging

its market position, expertise and technology to create a

competitive advantage and build market share.

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BUSINESS PROFILE

HDFC Bank caters to a wide range of banking services

covering both commercial and investment banking on the

wholesale side and transactional / branch banking on the

retail side.

The bank has three key business areas:-

a) Wholesale Banking Services

The Bank's target market is primarily large, blue-chip

manufacturing companies in the Indian corporate sector and

to a small extent, emerging mid-sized corporates. For these

corporates, the Bank provides a wide range of banking

services, including working capital finance, trade services,

transactional services, cash management, etc. Based on its

superior product delivery / service levels and strong

customer orientation, the Bank has made significant inroads

into the banking consortia of a number of leading Indian

corporate including multinationals, companies from the

domestic business houses and prime Public Sector

companies. It is recognized as a leading provider of cash

management and transactional banking solutions to

corporate customers, mutual funds, stock exchange

members and banks.

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b) Retail Banking Services

The objective of the Retail Bank is to provide a full range of

financial products and banking services, giving the customer

a one-stop window for all his banking requirements. The

products are backed by world class service and delivered to

the customers through various delivery channels including

the branch network, as well as alternative delivery channels

like ATMs, Phone Banking, Net Banking and Mobile Banking.

The HDFC Bank Preferred program for high net worth

individuals, the HDFC Bank Plus and the Investment Advisory

Services programs have been designed keeping in mind

needs of customers who seek distinct financial solutions,

information and advice on various investment avenues. The

Bank also has a wide array of retail loan products including

Loans against shares, Auto Loans, Personal Loans and Loans

for Consumer Durables and Two-wheelers. It is also a leading

provider of Depository Participant (DP) services for retail

customers.

HDFC Bank was the first bank in India to launch an

International Debit Card in association with VISA (VISA

Electron) and issues the MasterCard Maestro debit card as

well. The debit card allows the user to directly debit his

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account at the point of purchase at a merchant

establishment, in India and overseas. The Bank launched its

credit card in association with VISA in November 2001. The

Bank is well positioned as a leader in various net based B2C

opportunities including a wide range of internet banking

services for Fixed Deposits, Loans, Bill Payments, etc.

c) Treasury Operations

Within this business, the bank has three main product areas

- Foreign Exchange and Derivatives, Local Currency Money

Market & Debt Securities, and Equities. With the

liberalization of the financial markets in India, corporate

need more sophisticated risk management information,

advice and product structures. These and fine pricing on

various treasury products are provided through the bank's

Treasury team.

Rating

HDFC Bank's programme for Certificates of Deposits has

been rated by the Indian rating agency Credit Analysis &

Research Ltd. (CARE). The CDs are rated PR 1+ is the

highest rating for short term instruments indicating

superior capacity for repayment.

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AWARDS AND ACCOLADES

HDFC Bank was selected as the "Best Bank - India 1999"

and "Best Domestic Bank - India 2000", "Best Bank -

India 2001" by Euro money, and "Best Domestic

Commercial Bank - India 1999" and "Best Domestic

Commercial Bank - India 2000", "Best Domestic

Commercial Bank - India 2001" by Finance Asia. In the

October 2000 issue, Forbes Global selected HDFC Bank

amongst the top 20 in the

Forbes listing of the world's best small companies. Closer

home, HDFC Bank was selected for The Economic Times

Award - Corporate Excellence for Emerging Company of

the Year 2000-01 and as Business India's Best Bank for the

year 2000.

In the year 2000, leading financial magazine Forbes Global

named us in its list of "The 300 Best Small Companies" in the

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world and as one of the "20 for 2001" best small companies

in the world.

There have been some other proud moments as well:

London-based Euromoney magazine gave us the award for

"Best Bank India" in 1999, "Best Domestic Bank" in India in

2000, and "Best Bank in India" in 2001 and 2002.

Hong Kong-based Finance Asia magazine rated us "Best

Domestic Commercial Bank in India" in 1999, 2000 and 2001

respectively and "Best Local Bank in India " in 2002.

Asiamoney magazine has named us "Best Commercial Bank

in India 2002".

The Economic Times has conferred on us The Economic

Times Awards for Corporate Excellence as the Emerging

Company of the Year 2000-01.

Leading Indian business magazine Business India named us

"India's Best Bank " in 2000.

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Another leading Indian business magazine Business Today in

a survey rated us "Best Private Sector Bank " in India in

1999.

For our use of information technology we have been

recognized as a "Computer world Honors Laureate” and

awarded the 21st Century Achievement Award in 2002 for

Finance, Insurance & Real Estate category by

Computerworld, Inc., USA. Our technology initiative has been

included as a case study in their online global archives.

NASSCOM and Economic Times.com have named us the

‘Best IT User in Banking’ at the IT Users Awards 2003.

We are aware that all these awards are mere milestones in

the continuing, never-ending journey of providing excellent

service to our customers. We are confident, however, that

with your feedback and support, we will be able to maintain

and improve our services.

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Product Range

Savings, Fixed Deposits, Current and Demat Accounts

Savings Account: Apart from the usual facilities, you

get a free ATM Card, Interbranch banking, Net

Banking, Bill Pay, Phone Banking, Debit Card and

Mobile Banking, among others.

HDFC Bank Preferred: A preferential Savings Account

where you are assigned a dedicated Relationship Manager,

who is your one-point contact. You also get privileges like fee

waivers, enhanced ATM withdrawal limit, priority locker

allotment, free Demat Account and lower interest rates on

loans, to name a few.

Sweep-In Account: A fixed deposit linked to your Savings

Account. So, even if your Savings Account runs a bit short,

you can issue a cheque (or use your ATM Card). The money

is automatically swept in from your fixed deposit into your

Savings Account.

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Super Saver Account: Gives you an overdraft facility up to

75% of your Fixed Deposit. In an emergency, you can access

your funds while your Fixed Deposit continues to earn high

interest.

HDFC Bank Plus: Apart from Regular and Premium Current

accounts we also have HDFC Bank Plus, a Current Account

and then some more. You can transfer up to Rs. 50 lakh per

month at no extra charge, between the four metros. You can

also avail of cheque clearing between the four metros, get

cash delivery/pickup up to Rs. 25,000/-, home delivery of

Demand Drafts, at-par cheques, outstation cheque clearance

facility, etc.

Demat Account: Conduct hassle-free transactions on your

shares. You can also access your Demat Account on the

Internet.

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Innovative services for your convenience...

Phone Banking: 24-hour automated banking services with

39 Phone Banking numbers available.

ATM 24-hour banking: Apart from routine transactions,

you can also pay your utility bills and transfer funds, at any

of our ATMs across the country all year round.

Intercity/Interbranch Banking: Access your account from

any of our branches in cities.

Net Banking: Access your bank account from anywhere in

the world, at anytime, at your own convenience. You can

also view your Demat Account through Net Banking.

International Debit Card: An ATM card you can shop with

all over the country and in over 140 countries with. You can

spend in any currency, and pay in Rupees.

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Mobile Banking: Access your account on your

mobile phone screen at no airtime cost. Use SMS technology

to conduct your banking transactions from your cell phone.

Bill Pay: Pay your telephone, electricity and mobile phone

bills through our ATMs, Internet, phone or mobile phone. No

more standing in long queues or writing cheques.

Loans for every need

Now, our loans** come to you in easy-to-pay monthly

installments, and are available with easy documentation and

quick delivery.

Personal Loans: Take a loan of up to Rs. 3 lakh for a

wedding, education, purchase of a computer or an exciting

holiday.

New Car Loans and Used Car Loans: Finance up to 90%

of the cost of a car, new or used! And the loans come to you

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with easy documentation and speedy processing at

attractive interest rates.

Loans Against Shares: Get an overdraft up to Rs. 10 lakh

at an attractive interest rate against physical shares, up to

50% of the market value of your shares. In case of Demat

Shares, you can get a Loan against Shares of up to 65% of

the market value of your shares, till Rs. 20 lakh.

PRODUCT RANGE

SALARY ACCOUNT

SAVING ACCOUNT

CURRENT ACCOUNT

FIXED DEPOSIT

DEMAT ACCOUNT

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SAFE DEPOSIT ACCOUNT

SALARY A/C

There are three type of product code in salary

account .product code 105 is basically employees of the

govt. department & product code 115 is only defense

person and product code 120 is any private

organization/department . If product code 120 account

holder wants to a debit card then they have to paid Rs.100

per annum

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Product

code

Average

salary

No. of

Employee

Provide

facility

105 7500 10 Free Debit

card

115

Only

defense

Up to 5000 10 Free Debit

card

120 5000 10 Free ATM

Costumers have always given their best to the nation. It’s

now HDFC BANK turn to provide costumer with the best

salary account. Wit h HDFC Bank’s Salary Account, costumer

receives an array of rewards with their monthly pay. All at no

extra cost to customer.

Their employees get privileged services that help

them achieve even more

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Direct Salary Credits – Their employee need not go to the

bank ,deposit their cheques and wait for it to be

cleared .Their salary is automatically credited to their

accounts

Interbranch/Intercity Banking at 142 branches and over

360 ATMs

No minimum Balance to be maintained in the account to

avail of these benefits

Interbranch/Intercity Banking: - Costumer can use any of

HDFC BANK branches/ ATMs across 111 cities in India, no

matter where their account is held e.g. costumer may open

their account in Pune and can operate this \account the next

time costumer travel to Bangalore or for that matter from

any other city. Also no need to open a new account when

costumer gets transferred to another city where HDFC BANK

has a branch.

ATM 24-hour Banking: - Over 675 ATMs across 111 cities

enable costumer to withdraw up to Rs.15, 000 a day.

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Free International Debit Card: - It’s like an ATM Card that

costumer can shop with and make payments at 25,000

outlets in India and 10 million worldwide. Costumer can also

withdraw money from over 5.6 lakh Maestro/visa/Plus/cirrus

ATMs, in 140 countries.

HDFC BANK also waives the annual fee for one additional

card per account for the first year.

Free Demand Drafts: Customers can avail of free demand

drafts up to Rs.25, 000/- per instrument payable at any city

where HDFC BANK have branches.

Free Phone Banking: - This 24- hour’s facility enables

customer to conduct a range of banking transactions with

just a call.

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Free net Banking: - Customer can now bank at the click of

a mouse, backed by the highest level 128-bit security.

Free Mobile Banking: - Customer can even conduct a

range of banking transactions over a mobile phone, using

SMS facility or a WAP activated phone.

Free Personalized Cheque Book: - their employees get

personalized cheque book with the name of the account

holder printed on the cheque leaves.

(1) Special features for the Defense person

Sweep-in Account: - This facility is a fixed deposit linked to

savings account. So even if funds are short in the savings

account, that entire customer has to do is just issue a

Cheque. The money is automatically swept in from the fixed

deposit into the savings account. The balance amount

continues to earn high interest rate.

Super Saver Account: - This account gives customer an

overdraft facility of unto 75% of the Fixed Deposit in times of

emergency. Customer can access their funds either through

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an ATM or by issuing a cheque, while the Fixed Deposit

continues to earn high interest rate.

Free Collection of Outstation Cheques: This account

entitles customer to free collection of outstation cheques

drawn on all cities where HDFC BANK has branches.

(2) How else do customer benefit from HDFC Bank’s

Salary Account?

With HDFC BANK Salary Account, customer enjoys a number

of privileged value added services such as:

Direct Salary Credits: - Customer salary is automatically

credited to their account. All customer have to do is inform

their payroll department of their HDFC Bank Salary Account

number.

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Bill Pay: No more waiting in queues to pay utility bills –

customer can use any of HDFC BANK “e-Age” banking

channels like Phone Banking, Net Banking, Mobil Banking

and ATMs to pay their electricity, telephone and mobile

phone bills, and even LIC premiums.

Demat Account: Customer can enjoy paperless trading, by

opening a Demat account.

Joint Account facility: - Customer can open a joint account

by opening a Demat account

Personalized Cheque Book: Customer get a personalized

cheque book with the name of the entire account holder (S)

printed on the cheque leaves.

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Insurance

In case customer card is lost/stolen, customers are covered

for any liability exceeding Rs. 500/- (After customer report

the loss to the Bank). Please report of their card immediately

to HDFC BANK Phone Banking service. Additionally, customer

must report the loss/theft of their card to the nearest police

authorities and forward a copy of the acknowledged report

to the Bank.

Additional Card

Additional cards are available to Joint Account holders at an

Annual fee of Rs. 100 per card. However, the operating

instructions on the account should allow for financial

transactions to be conducted singly by the Joint Account

holders. Annual fee has been waived for the first year on one

Additional Card.

The services and applicable tariffs are listed below:

Service offered Charges

Lost/Stolen Card Reporting USD 35 per card

Emergency Cash

Disbursement

USD 175 per disbursement +

USD 25 per disbursement

only in cases where

emergency cash is disbursed

by Visa through a member.

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Miscellaneous Customer

Service enquiries

USD 5 per call

Worldwide Assistance from MasterCard if customer

has a Maestro Debit Card

In case customers have any queries/problems while traveling

abroad, assistance is available from Maestro Global Service

from MasterCard International.

The services and applicable tariffs are listed below:

Services Offered Charges

Lost/Stolen Card Reporting US$ 35

Emergency Cash

Disbursement

US$ 95

Miscellaneous US$ 7.75

Important

Please sign on the reverse of the card on the signature

panel.

Their personal Identification Number (PIN) will be mailed

to customer separately. Please ensure that customer

receive this after customer receive their card. In case

customers do not receive it please contact the nearest

branch or call Phone Banking.

Master Cards are being issued in select cities only.

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Their Card is valid in India and abroad. Customer cannot

make foreign currency transactions in Nepal and Bhutan

(i.e. transactions in currencies other than local currency of

Nepal / Bhutan or Indian Rupees).

In case of multiple accounts linked to their card, all their

transactions at Merchant Outlets, Visa/PLUS ATM and

Cirrus ATM locations will access one account i.e. the

Primary Account Number designated by customer.

The four-digit PIN helps customer to access their accounts.

Do not reveal their PIN to anybody. Only customer should

know this number.

Please ensure that while using the Card outside India

customer are doing so strictly in accordance with RBI’s

Exchange Control Regulations, as prevailing from time to

time. Their aggregate expansive incurred abroad (i.e.

through payments in cash/traveler’s cheques and through

the Car) should not exceed the limit, set by RBI,

As prevailing from time to time. Violation of these

regulations in any manner would be liable for action under

the Foreign

Exchange Management Act, 1999. The onus of ensuring

compliance with the regulations is with customer, the

holder of the International Debit Card.

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SAVING ACCOUNT

The e-Age Saving Account from HDFC Bank brings customer

a comprehensive range of products and services. Each one is

designed to minimize their effort, making it much simpler for

you to do their banking. HDFC BANK now has 211 branches

in 110 cities and over 650 ATMs across the country. Add to

this an international network of over 6.5 lakh ATMs which

customer can access with their international Debit Card.

That’s world class banking for customer.

Free 24 hour ATM:- Customer can withdraw up to Rs.

10,000 per day from any of HDFC BANK extensive network of

over 650 ATMs across 110 cities all over the country.

Customer can also deposit cash/cheques, get an account

balance, request for a cheque book and transfer funds, all at

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the push of a few buttons. This amazing facility is available

24 hours a day 365 days a year.

Rs. 15,000 per day with their Debit Card.

Free Net Banking: - HDFC BANK convenient Net banking

facility will open up a whole amount of services for customer

at just the click of a mouse. Customer can:

Check their up to the minute account balance etc.

Open a Fixed Deposit.

Get a Demand Draft

Make a TDS inquiry

Request a stop payment on a cheque

Request for a new cheque boom

Transfer funds within their own accounts

Carry out third party transfer of funds

International Debit Card: The HDFC Bank international

Debit Card lets customer shop and also withdraws money

from HDFC BANK ATM network. With HDFC BANK’S

international Debit Card, customer can shop at 18,000

establishments in India and over 100 Lakh establishments in

140 countries. Customer can also withdraw cash from over

1600 VISA/Plus ATMs in India and 605 Lakh ATMs in 140

countries. The amount customer spend on their card will be

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automatically debited from their Savings Account. So when

customer go shopping customer don’t have to carry cash!

Interbranch/intercity Banking:- Customer can access

their account from any of the 211 branches in 110 cities and

over 650 ATMs across the country. So customer can

withdraw cash from another branch, through a self-cheque

or an ATM. Customer could also transfer funds between two

accounts, or deposit a local cheque in one branch and get is

credited to their account in another city.

Bill pay:- Now for the firs time ever, customer get an

absolutely unique facility for paying their telephone,

electricity, cellular phone bills and insurance premium at the

push of a few buttons. Pay utility bills using the ATM, the

Internet,. Telephone of mobile phone.

NOTE: - On receiving Costumer instruction to pay

their bill, the bill amount will be deducted form

customer account.

Free Phone Banking: - HDFC Bank’s 24 hour Phone

Banking service lets customer conduct a wide range of

banking transactions from the comfort or their home of

office.

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Customer can:-

Get their account details

Ask for a cheque book or a statement

Open a Fixed Deposit

Transfer money within their own accounts

Order a Demand Draft

Stop cheque payment, etc.

CURRENT ACCOUNT

At HDFC Bank, HDFC BANK understand that running a

business requires time and money, also that their business

needs are constantly evolving. That’s where HDFC BANK

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comes in. HDFC BANK provides customer with a choice of

Current Account options to exclusively suit their business

whatever the size scope.

Take Customer’s pick!

Customer can choose the Current Account that works best

for their specific business needs.

1. Regular Current Account

The regular Current Account requires an average quarterly

balance of Rs.10, 000 only. Besides the free ATM card and

easy accessibility, their first 50 cheque leaves are offered

free.

2. Premium Current Account

Their account can be operated from any of the branches for

the depositing of withdrawing money. A Premium Current

Account requires an average balance of only Rs. 25,000 per

quarter. Moreover, for premium Current Account holders

cheque leaves are free.

Free Services offered to Regular and premium current

Account holders:

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One ATM card per account (only for individuals/Sole

Proprietorships).

Replacement in case of damaged cards.

Monthly statement.

Online, real-time Net Banking.

24 hours Phone Banking access (please check for

availability in their city,).

3. HDFC Bank Trade

It is a Current Account ideal for small funds transfer across

various cities in the country. Trade Account is suitable for

small businessmen and traders.

Features offered to HDFC Bank Trade Account

holders:-

At par payable cheques.

Free inter-city Funds Transfers up to Rs. 25 lacs.

Free Pay Orders

Free Demand Drafts Payable on HDFC Bank locations up

to 30 per quarter. (Check with branch for value limits).

ATM card for individuals/Sole Proprietorships. Free online,

real time Net Banking.

24-hour Phone Banking access (please check for

availability in their city).

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A Trade Current Account requires an average quarterly

balance of only Rs. 40,000.

4. HDFC Bank Plus

Single Account, Multi-city Banking

If their business regularly requires customer to receive and

send funds to various cities in the country, HDFC Bank Plus

provides customer with the means to facilitate such

transactions efficiently.

With just one account, customer have access to more that

111 cities in the country. In other words, the power of a

single account and multi-city banking. This results in huge

savings on inter-city movement of funds and other service

charges.

Furthermore, HDFC BANK strategic alliance with Chase

Manhattan Bank gives customer the advantage of

competitive rats for trade finance and faster inward/outward

remittances. The average balance requirement for the HDFC

Bank Plus account is Rs. 100,000 per quarter.

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FIXED DEPOSIT

Super save account

(a temporary overdraft against their fixed Deposit)

Would not it be great to earn a high interest on their Fixed

Deposit and at the same time enjoy the liquidity associated

with a Saving account/ Get their self the HDFC Bank Super

Save Account and that’s exactly what customer will have.

How do I benefit from the Super Save Account?

Maximum Liquidity

Their Super Saver Account allows customer to issue cheques

and use and ATM card for withdrawals, just like Savings

Account. Customer can access their account from any of

HDFC BANK 211 branches or over 650 ATMs spread across

India. Even in an emergency, customer need not break their

fixed Deposit to withdraw money. So customers get their

money whenever customers need it.

Easy operation

Customer can open a supersaver Account with nominal sum

of just Rs. 25,000 and enjoy a temporary withdrawal limit of

up to 75% of their deposit

40

Even after customer withdraw a part of their limit, their

entire deposit continues to earn a high rate of interest, i.e.

their deposit in not broken. Customer are required to pay an

overdraft interest that is 2%

more than the interest earned by their Fixed Deposit for the

amount of overdraft, and only for the period for which

customer use the money. Besides, customer can take an

overdraft by simply using a cheque of through an ATM. Isn’t

that great?

For overdraft limits greater than Rs. 2 Lakh, overdraft

interest will be charged at the Bank’s Prime Lending

Rate (PLR).

High yield

Customer can choose any account plan between 6 months

and 5 years for their Super Saver Account. HDFC BANK

personal Bankers will give customer expert advice on the

best possible account plan yielding the most attractive

interest, depending on their needs.

Better Returns that a Savings Account

Even if customer withdraw unto 70% of their Supersaver

Account on day one and do not put it back for a year,

41

customers still earn more than customer would through a

Saving Account. Incredible isn’t it?

Free ATM Card

With every Super saver Account customer get a free ATM

Card. This allows customer to enjoy 24 hour banking 365

days a year, including Sundays sand bank holidays. Their

convenience is all the matters.

Available in select cities only

Personalized Cheque Book

Customers also get a cheque book with every Super Saver

Account, with their name printed on it.

Overdraft on Current Account against their fixed

Deposits

Customer can also get an overdraft on their Current Account

against their own fixed Deposits with the bank. Please

contact their Personal Banker for details on documentation

required.

42

SWEEP IN ACCOUNT

(A Flexible Fixed Deposit cum Savings Account)

Imagine having an account that changes to suit their needs.

When customer want their money to earn high interest it

worked like a Fixed Deposit, when customer want to

withdrew money in a hurry, it works like a savings Account.

Customer wins both ways

So what is a Sweep-in Account

43

It is a Fixed Deposit that comes automatically linked to a

savings Account. So whenever customer’s short of funds in

their Saving account and their money is “blocked” in a fixed

Deposit, customer just have to issue a cheque (or use the

ATM.) their money automatically gets transferred, i.e. swept-

in from their fixed Deposit into their Saving Account. It’s as

easy as it sounds. To open a sweep in Account, all customer

need is to open a Fixed Deposit as per the norms of the bank

and a Savings Account with no minimum balance

requirement.

Customer need to maintain a minimum fixed Deposit of Rs,

50,000 at all times to avoid service charges. In case of non

maintenance of Rs.50,000 in fixed deposits, customer

savings Account will be subject to service charges as

applicable. The saving account needs to be opened with an

initial amount of Rs.5000.

How does it work?

Since the Sweep in Account holds their money in a Fixed

Deposit in units of Re.1 every time money is swept from

their fixed deposit to their Savings account, interest loss in

minimized. Further, the amount swept in earns interest for

44

the tenure that it has completed without any penalty. The

rest of their deposit continues to earn the original interest

rate till maturity.

There’s more! Customer can, if customer like always open an

add on deposit for just Rs. 5,000. Further, customer link as

many deposits as customer like to their Savings account.

And the Sweep in automatically chooses the oldest deposit

first before sweeping money into their Savings Account.

Enjoy the benefits of a truly flexible fixed Deposit. Just open

a Sweep in Account. The Savings accounts comes with it.

Call us and HDFC BANK representative will come over to

their home of office and open an account for customer. Well

take care of details and formalities including their

photograph.

45

DEMAT ACCOUNT

Now customer can avoid mutilation, duplication and

pilferage of share certificates. Open a Demat Account with

HDFC Bank and protect their securities from damage loss

and theft and remember, HDFC Bank is the largest

depository participant amongst all banks.

Why do I need Demat Account?

With SEBI making trading mandatory in the Demat form and

the advent of Rolling Settlements it is imperative that all

investors have a Demat Account with a depository

participant. When customer places a buy order, a seller can

deliver the securities in Demat form, which can only be

credited to a Demat Account.

What benefits do I get from an HDFC Bank Demat

Account

No Account Opening Charges.

Nominal Annual Maintenance Charges.

Competitive fees for transactions.

Demat Account Status on the internet.

Option to open a Demat Account with NSDL, CDSL or both.

Personalized instruction Book.

46

What other benefits do I get?

Paperless trading which will help prevents mutilation. Loss

and misplacement of certificates and eliminate the

problems of bad delivery.

Safety of their securities with HDFC Bank.

Problems of bad delivery, theft or mutilation eliminated.

Zero stamp duty.

Faster settlements of buy and sell orders, direct credit of

allotment from public/ rights/bonus issues.

How do I open an HDFC Bank Demat Account?

Fill up the application form and the Agreement and get it

singed by the entire applicant.

Attach one photograph of each applicant.

Provide proof of identity/Residence (copy of ration card/

driving license/voters ID/passport or PAN card). Please

bring the original to the bank along with a photocopy.

Annual charges of Demat account Rs.299 per annum

Once their Demat account is active, customer will receive

periodic account statements from HDFC Bank. HDFC bank’s

Demat Account is also accessible on the internet, allowing

customer to check balances, transaction status, Demat

status etc. online.

47

SAFE DEPOSIT LOCKERS

Safeguard their valuables with HDFC Bank lockers.

Their jewellery, share certificates and important documents

are far too important for customer to risk keeping them at

home. As an HDFC Bank customer, HDFC BANK offer

customer a safe and secure place to guard their valuables

from theft, fire or any unforeseen circumstances.

Various locker Sizes: HDFC BANK lockers are available in

various convenient sizes. Customer can choose the locker of

their choice depending on customer requirement.

Complete privacy: The spacious design and special mobile

screens of HDFC BANK locker rooms provide complete

Privacy. Besides, HDFC BANK allows usage of only one

locker per row, at a time.

Water – Proof Fire Proof and Secure: the lockers are

housed in a special area of the branch which is secured by

strong room doors and tamper-proof locks. Besides, the

walls of HDFC BANK locker rooms are specially treated to

protect them from water seepage and fire.

48

Convenient hours of operations: Their can operate the

lockers during the branch timings, and even on Sundays at

select braches.

SERVICE STRATEGY OF THE HDFC BANK

HDFC bank aims at full customer satisfaction its customers

range from ordinary household to high profile business

houses. It has wide range of type of account and several

other payment and deposition facilities to cater to the need

of these customers for speedy transaction to match the

demand of e-commerce .It has several model facilities like

internet banking, telebanking etc. all the cheques presented

to HDFC bank are accounted within a day where drawee

branch is in the same city for out station cheques it takes

maximum three days only. It has a team of dedicated

motivated & trend professionals who listen to and sort out

the problems of customers. To avoid long queue and waiting

lines it has avoid network of reliable ATMs through out the

country .It has ATMs are joined to the main server who

satellite link which helps it to maintain data of every

transaction ,after each transaction customer is served with

the bank statement the customer may also access transfer

his account via internet in addition all these services the

bank also provides customers with debit and credit cards

49

which allows them to make transaction any where in the

world which has visa compatibility in this way hdfc bank

epitomizes.

The merits of both orthodox and electronic banking. Thus

HDFC Bank not only tries to satisfy its customers but also

make all attempts to delight them.

HDFC Bank has three pronged services strategy:

1. People management

2. physical Environment Management

3. process Management

People Management

HDFC Bank has well qualified team of professional

team of professionals who are experts in customer

relationship management. They have achieved. Thus

level of expertise through training and motivation

program taken up at regular intervals because of this

high levels of competence HDFC Bank is often of called

as Indian Foreign Bank.

Physical Environment Management

Every Branch and ATM’s of HDFC Bank is located in the

posh area of the locality it helps the bank to create a

good image among customer.

50

Further it helps customers access the bank facilities in

leisure time that is while marketing or on way to some

important destination.

Further all ATMs and branches are fully air conditioned

with relaxing environment which puts visitors at ease

the peaceful hesitate the tension and stores of

customers.

Process Management

HDFC Bank has simplified procedures for transaction

and opening accounts it has done a way with Hussle of

Gvasenter which are mandatory in many in many

banks similarly it has done a way with many lumbers

one and non essential procedures which helps

customers reduce stress and under tension.

51

52

OBJECTIVE OF THE RESEARCH

To know the various financial products provided by a Bank

in the current scenario with reference to HDFC BANK Ltd.

DELHI.

To know the various facilities provided by the HDFC BANK

Ltd. DELHI with an aim to retain their customers.

To collect the data of HDFC BANK Ltd. DELHI.

53

54

DATA COLLECTION METHOD

There are two types of Data Collecting method.

Types of data-

Primary data

Secondary data

Primary data:

Primary data means data that are collected by different

techniques like Questionnaire, Depth interview, Surveys,

Schedules etc.

In this project I have collected data by Questionnaire.

Secondary data:

Secondary data means data that are already available i.e.:

they refer to the data which have already been collected and

analyzed by someone else .Usually published data are

available in:

(a) Various publications of the central, state or local

governments.

(b) Various publications of the foreign governments.

(c)Technical and trade journals.

Sources of Secondary data:-

55

Books, magazines and newspapers.

Reports and publications of various associations

connected with industry.

Internet

SAMPLING

Area of sampling is Delhi only. The sample size is 100 which include all between age group 18-60 years with minimum qualifications required t o be an advisor in the company.

RESEARCH METHODOLOGY

• A questionnaire was prepared to gauge the awareness

of HDFC Bank in Retail banking sector.

• Survey has been done in and out of the bank covering a

wide cross-section of the society.

• The question was presented in one to one interview

with each of the respondents.

• Responses of the question had been thoroughly

analyzed.

• Conclusions had been arrived at using the response of

the questionnaire.

56

57

DATA ANALYSIS

BANKWISE DISTRIBUTION OF ACOUNT HOLDERS

Based on the response of 250 people following table has been made:

NAME OF THE BANK NO. OF ACCOUNTS %age

HDFC 70 28%

ICICI 110 44%

UTI 20 8%

IDBI 50 20%

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RANK IN ORDER OF BANKS WITH RESPECT TO NUMBER OF

CUSTOMERS HELD

1. ICICI

2. HDFC

3. IDBI

4. UTI

Since HDFC Bank is number two in terms of number of

account holders, and its positive image and enormous

goodwill among masses elevates, its position from nicher

59

to runner in retail banking sector. It can very well take on

the challenge posed by ICICI Bank and try to improve its

position by focusing on key strength areas and

strategically eliminating its weak points.

POPULARITY OF THE TYPES OF ACOUNTS

Based on the response of 250 people following table has been made

Name of Account Used by people % age

SAVINGS 80 32%

CURRENT 70 28%

FIXED 40 16%

60

SALARY 60 24%

FIXED16%

SALARY24%

SAVINGS32%

CURRENT28%

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Types of accounts held by people ranked in order

1. Savings

2. Current

3 Salaries

4. Fixed

Since saving account ate the most popular among masses,

innovative ideas has to be framed to inveigle new prospects

into this venture. Possible targets could be school and

college going students, housewives and small businessmen

who could easily put their money from irregular source of

income into this account.

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MOST SOUGHT AFTER ATTRIBUTES OF A BANK

People ranked different attributes as 1, 2, 3 etc.

Based on these responses mean rank has been calculated.

ATTRIBUTES MEAN RANK

ATM 2.6

FACILITIES 3.88

LOCATION 2.72

SERVICE 4.24

ATMOSPHERE 5.276

EMPLOYEE BEHAVIOUR 3.388

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NOW ARRANGING THE MEAN RANKS IN ASCENDING ORDER WE

GET THE OVERALL RANK WHICH IS AS FOLLOWS:

1. ATM

2. LOCATION

3. EMPLOYEE BEHAVIOUR

4. FACILITIES

5. SERVICE

6. ATMOSPHERE

However it was felt during the survey that major

constraint which may laggard the growth of HDFC Bank is

the inadequate number of ATMs across the country. The

Bank need to improve upon this front because in terms of

customers consideration of attributes in choosing a bank

ATMs and location of it are of paramount importance.

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SATISFACTION LEVEL OF CUSTOMERS

FROM THE RESPONSES OF CUSTOMERS OF DIFFERENT TYPES

OF ACCOUNTS CUSTOMER SATISFACTION LEVEL HAS BEEN

GAUGED.

SAVINGS 80%

CURRENT 75%

SALARY 85%

FIXED 70%

0%

20%

40%

60%

80%

100%

SAVINGS CURRENT SALARY FIXED

Series1

As we can clearly make out from the graph above shown that salary

account

is most popular among the customers .After which savings is the second

most popular among customers.

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POSSIBILITY OF EXPANSION CONSIDERING PRESENT

CUSTOMER BASE

From the responses of question whether people

would like to open another account following table

has been made.

YES 45%

NO 55%

The chart above shows that 45% of people would like

to open another account in the HDFC Bank, which

66

NO55%

YES45%

YES

NO

means that they are satisfied with the facilities and

services provided by the bank to them. While 55% of

people says no to opening another account which

means that they are not satisfied with the bank.

67

INTERPRETATIONS

1. From the response of the Questionnaire gathered and

finding the experience during the survey from of people

around, about the HDFC Bank, a lot of conclusion and

findings have been arrived at which are sufficient to

unreveal the mysteries and connotations of customer

behavior and their satisfaction.

2. Since HDFC Bank is number two in terms of number of

account holders, and its positive image and enormous

goodwill among masses elevates, its position from nicher

to runner in retail banking sector. It can very well take on

the challenge posed by ICICI Bank and try to improve its

position by focusing on key strength areas and

strategically eliminating its weak points.

3. For expansion HDFC Banks should make forays into

semi-urban and smaller cities and also rural areas .In fact

68

these days, rural income is increasing at a much faster

rate then. Urban income and also the market is

considered virgin which makes the launching and

expansion prospects very good one. In this way the Bank

can gain foothold over these territories and reap rich

harvest in terms of booming account numbers.

4. However it was felt during the survey that major

constraint which may laggard the growth of HDFC Bank is

the inadequate number of ATMs across the country. The

Bank need to improve upon this front because in terms of

customers consideration of attributes in choosing a bank

ATMs and location of it are of paramount importance.

5. Since saving account ate the most popular among

masses, innovative ideas has to be framed to inveigle new

prospects into this venture. Possible targets could be

school and college going students, housewives and small

businessmen who could easily put their money from

irregular source of income into this account.

6. Now-a-days Banking is no more the way of only

providing interest for the deposited money, but they are

the ways of accessing and transacting with them from

anywhere and anytime at any part of the world. Hence,

69

flawless and effortless access of bank accounts from

mobile phones and Internet has to be made available.

7. It is also felt that in the era of e-banking where

transaction is more on the IT highway the success of bank

will depend more on building information networks rather

then anything else. In the near future all existing banks

including HDFC Bank may have to rival Airtel and hutch

network, which too might become Banks very soon rather

then competing among themselves. Hence vision for

success in near future is building up of information

gathering and dissemination network base

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SWOT ANALYSIS

Strength

The keys strength areas of HDFC Bank are their motivated

and highly competent staff who is aggressive in their

pursuit for excellence in terms of employee competence it

rivals the highly rated foreign banks.

Weakness

Though HDFC Bank has wide coverage of ATM Network

through out the country it is not considered adequate

keeping in view is wide customer base.

Opportunity

HDFC Bank has good opportunity in Rural area and offices

etc. which are still untouched by banks of such repute an

are considered virgin markets.

Threat

Other banks like ICICI, Centurion, UTI, IDBI, an expanding

at a very fast rate and are perceived as threat to HDFC

Bank.

71

72

SUGGESTIONS

Try to improve after sales services.

To be some quality conscious.

Try to install ATM’s at more convenient places for their

customer.

Try to provide Complete/Actual information to the

customer.

Customer must have all the information regarding charges

& fees.

HDFC must issue at par cheques to their customers.

MAKE STRONG PUBLIC RELATIONS:

The bank has to provide better services to satisfy the needs

and wants of customers specially on the occasion of

deepawali and dasahara like festivals so that the customer

has to satisfied with their services of banks the bank is to

provide loans, specially housing loans to the customer at

very low interest rates so that the every middle class family

is to avail loans without any problem.

CONTINUOUS MARKET FEED BACK:

73

To make the good relation with the customer it is very

important to take feed back time to time to know about the

problems and difficulties which are faced by the customer.

PROVID RECENT INFORMATION TO THE CUSTOMER:

The bank is able to give as many as possible information to

our customers so that the customer is able to understand

which type of information is to bi used in a particular sector.

TRY TO START ON LINE TRADING:

Due to on line trading the convince to customer is given by

way of opening and depositing their money on the basis of

on line services.

TRY TO INSTALL ATM’s AT MORE CONVENIENT

PLACES:

financial year is also increase the customer has also avail

their The bank is to install ATM’s as many as possible due to

convenience of their customer specially in commercial

places ,like petrol pumps, in market ,in the hospital . So that

the customer has convience to withdraw their money

without problems.

TRY TO OPEN EXTENTION COUNTER AT VARIOUS

PLACES:

74

The bank has to open their extension counter in various

places of their city so that the deposit of bank is also

increase and the turnover of bank during facilities which is

provided by bank cheaper rate.

75

LIMITATIONS

No study is full proof or error free. This study has also got

some limitations that are given below.

• The survey was limited within the geographic limits of

the city of Delhi and Ghaziabad. Thus the results may not be

applicable to the whole country.

76

• Sample size was only 100.So the result may not reflect

the actual situation. A large sample size may reflect better

result

.

• Most of the people were either not very willing to spend

time in discussing about policies or were reluctant to tell

about the plans for the fear of receiving unsolicited call from

the company in order to promote its policies.

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SUMMARY

In summary, the report would like to present the in depth analysis of the products and services provided by HDFC bank in Delhi and Ghazibad.

78

Chapter 1 includes the introduction part, which covers the basic introduction of the HDFC Bank.

Chapter 2 includes the Company profile and business profile. The company profile includes the information about the promoters, business focus, capital structure, technology, management etc. The business profile covers the information about the key business areas, awards, profitability ratios of the bank, various accounts and facilities provided by the bank.

Chapter 3 includes the objectives of the research and the research methodology used while preparing the project.

Chapter 4 includes the data analysis and interpretations. The data which is collected through questionnaire was used in the analysis and the interpretations are given accordingly.

Chapter 5 includes suggestions, limitation, summary and conclusion part.

Chapter 6 is the last one which includes the questionnaire and bibliography.

79

CONCLUSION

80

As it is the fastest growing section and HDFC Bank is one of

the top biggest player of this sector in this project I deal with

all those areas and various product which attract the

customer most.

This project helps those customers who want in-depth

knowledge of all the product of HDFC Bank.

In today’s world it is necessary for a customer to have a

complete knowledge of services provide by a Bank.

This project helps those people and Bank to avail all the

facilities and improve their services respectively.

In this project an attempt is being made to include all the

complete and accurate information regarding the Bank

services charges and fine.

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82

ANNEXURE

The following questionnaire was used to conduct the market

survey of consumer perception towards insurance in Delhi

and Ghaziabad. The survey was conducted during the month

of May and June 2008. A total of 100 people were contacted

for the survey.

83

QUESTIONNAIRE FOR RESPONDENTS

I, hereby, declare that all the information provided by you is

strictly for the purpose of research and shall not be used for

any other purpose. I am grateful to you for your support and

thank you for your honest response. I request you to read

the following before you proceed further.

Please tick only one option unless mentioned otherwise.

All the information in the questionnaire is for academic

purpose and shall be kept confidential.

PART-A

1. Respondents Name : ___________

_

2. Sex:

[ ] M [ ] F

3. Age (In yrs) :

18-20 [ ] 20-30 [ ] 30-40 [ ]

40-50 [ ] 50-60 [ ] 60 & above [ ]

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4. Your marital status

□ Married □Unmarried

5. Your educational background

□Only up to 10th

□10+2

□ Graduate

□ Post graduate and above

6. Which of these best describes your occupation?

Occupation Remar

k

Working/salaried-

Government

Working/salaried-

Private

Business

Professional (Doctor,

Engineer, CA, Tax

consultant etc.)

7. You consider yourself as belonging to which annual

income group

85

□ <Rs.1 lacs

□ 1-3lacs

□ 3-5lacs

□ 5-10lacs

□ >10 lacs

PART -B

8. How satisfied are you with each of the product that

you invested in? (The satisfaction could be based on

different parameters e.g. in terms of the returns that

product has offered to you / quality of serviced

offered by the company / quality of service offered by

the consultant who sold you the product etc.)

Satisfaction level

Invested

in

Highly

dissatisfi

ed

Dissatisfie

d

Neither

satisfied

nor

dissatisfi

ed

Moderate

ly

satisfied

Complete

ly

satisfied

Fixed

Account

Savings

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Account

Salary

Account

Current

Account

9. DO YOU HAVE AN ACCOUNT IN ANY SCHEDULED BANK?

1- HDFC BANK

2- ICICI BANK

3- UTI BANK

4- IDBI BANK

10. WHAT TYPE OF ACCONT DOES YOU HAVE?

1- SAVING ACCOUNT

2- CURRENT ACCOUNT

3- FIXED ACCOUNT

4- SALARY ACCOUNT

11. HOW LONG ARE YOU BEING ASSOCIATED WITH

THE BANK?

YEARS________ MONTHS______

12. WHAT ATTRACTS YOU MOST? (RANK)

1. ATM

2. LOCATION

3. EMPLOYEE BEHAVIOUR

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4. FACILITIES

5. SERVICE

6. ATMOSPHARE

13. Do you HDFC Bank would be able to position itself

as a strong financial institution?

□ yes □ no

14. Are you satisfied with the bank?

□ yes □ no

15. If yes do you want to open another account?

□ yes □ no

16. If no then what are the reasons for dissatisfaction?

17. If you are offered a good savings plan from HDFC

Bank with good rate and benefit will you be

interested?

□ yes □ no

Your address & phone

no .________________________________

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_______________________________

__

_______________________________

__

_______________________________

__

_______________________________

__

Thank you!!!

89

BIBLIOGRAPHY

Books:

Principles of Marketing Philip Kotler

Marketing Management- Rajendra Saxena

Research Methodology- C. R. Kothari

Websites :

www.hdfc.com

www.irdaindia.org

www.financialexpress.com

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