A PROJECT ON PUNJAB NATIONAL BANK AND LIC OF INDIA

Introduction;

Product and services;

Marketing strategies;

Loan approval process;

Interest rates for loans;

Measures to control NPA ;

Banking Ombudsmen;

Customer services.

CONTENTS

INTRODUCTION Established in 1895 at Lahore undivided India

Started solely with Indian capital.

56 million customers and 5002 offices

Second largest government-owned commercial bank in India

Punjab National Bank was ranked 1243 in the Forbes Global 2000

Chairman- K.R. Kamath

ORGANIZATIONAL SETUP

PRODUCT AND SERVICES Corporate banking Personal banking Industrial finance Agricultural finance Financing of trade International banking Home loan Auto loan ATM/DEBIT Card Deposit Interest rates Credit Interest rates Other Services : Locker Facilities, Senior Citizen Schemes, Merchant Banking, Electronic Fund Transfer & Clearing Services ,etc.

MARKETING STRATEGIES

LOAN APPROVAL PROCESS1. PNB account.

2. submit the education loan amount as per the education fees

3. No security requirement for a loan amount of less than Rs. 4 lacs.

4. Go to any PNB branch and ask for an education loan application form.

5. Go through all the sections in the loan application form

6. Always fill the form under the guidance of the employee of PNB

CONT….

7. Submit the attested copies of the documents

8. Submit the application form to the education loan section in PNB.

9. If the application is rejected…

10. The required education loan amount is deposited in your PNB a/c

11. Repay the education loan

12. Failing to do so, your assets given might be confiscated by the bank.

INTEREST RATES ON EDUCATION LOAN

(EFFECTIVE FROM 1ST MAY 2009)

CVV

I. Rate of interest Vidyalakshyapurti

Repayable in less than 03 years

Repayable in less than 03 years and above

I. Loan Upto Rs.4 lac BPLR - 0.50%(i.e. 10.50%)

BPLR – 1.00% + 0.50%TP(i.e. 10.50%)

II. Loan over Rs.4 lac BPLR + 0.25%(i.e. 11.25%)

BPLR – 0.25% + 0.50%TP(i.e. 11.25%)

II. Rate of interest Sarvottam Shiksha

Repayable in less than 03 years

Repayable in less than 03 years and above

I. Loan Upto Rs.4 lac BPLR - 0.50%(i.e. 10.50%)

BPLR – 1.00% + 0.50%TP(i.e. 10.50%)

II. Loan over Rs.4 lac BPLR + 0.25%(i.e. 11.25%)

BPLR – 0.25% + 0.50%TP(i.e. 11.25%)

MEASURES TO CONTROL NPA’S

Notices on due dates

Field Visits, Personal persuasion, Stock Statements

Compromises

Seizure and disposal of assets through auctions

Criminal Action per Sec 138 of NI Act

SARFAESI act 2002

Lok Adalat

BANKING OMBUDSMAN

Introduced in India in 1995, and was revised in 2002.

Functioning under India’s Banking Ombudsman Scheme 2006.

To enable resolution of complaints of customers banks.

Non-payment or inordinate delay.

Non-adherence to prescribed working hours.

Non-acceptance, without sufficient cause

CUSTOMER SERVICES Online banking facility [E-banking];

Customer care services;

Complaints settled within 24 hours;

Centralized banking system [CBZ]

It has been assigned the “LAAA” rating by ICRA.

The rating of LAAA is the highest-credit-quality rating assigned by ICRA.

CONTENTS Introduction;

Product and services;

Marketing strategies;

Claim approval process;

NPA management;

Insurance Ombudsmen;

Customer services.

INTRODUCTION Life insurance in India made its debut well over 100 years ago

The life insurance companies are the largest institutional investors in India.

The Life Insurance of India Act was passed in the year 1956

IRDA was created by an act of the Parliament.

IRDA has evolved into an effective regulator.

It is fully owned by the Government of India.

It also funds close to 24.6% of the Indian Government's expenses.

LIC HIGHLIGHTS

The largest state-owned life insurance company in India.

It is fully owned by the Government of India.

LIC is one of the largest employers in India

The current Chairman is Mr. T.S. Vijayan.

Assets as on 31.03.2008 : $ 185 billion No. of policies : 250 million No. of employees : 1,13,000 No. of agents : 1.2 million

PRODUCT AND SERVICES

Children plans, Female policies,(jeevan bharathi) Whole life policies, Money back policies, Joint life policies, Unit linked plans, One time payment premiums, Double & triple coverage plans, Life cover Investment plans, Pension plans etc..,

MARKETING CHANNELS

Agents

Word of mouth publicity

Advertisements on T.V

Hoardings

Advertisements on radio, newspapers, etc.

Internet

MARKETING STRATEGIES

CLAIM APPROVAL PROCESSStep 1:-Intimation to Insurance Firm.

Step 2 :- Assessment Of Loss.

Step 3 :- Appointment of Surveyor.

Step 4 :- Investigation.

Step 5 :- Reporting.

Step 6 :- Submission of Claim Form

Step 7 :- Verification of Claim Proposal.

Step 8 :- Appeal and Negotiations.

LIC JEEVAN SARAL POLICY

FEATURE OF THE PLAN

SURRENDER VALUE

GUARANTEED SURRENDER VALUE(GSV)

SPECIAL SURRENDER VALUE(SSV)

AUTO COVER

FLEXIBLE TERM

PARTIAL SURRENDERS

OPTIONAL RIDERS

PLAN PARAMETERS

UNDERWRITING CONDITION

BENEFITS: Maternity & Death

INSURANCE OMBUDSMEN AND IRDA

Financial limit of Rs. 20 Lacs.

Created under Redressal of Public Grievances Rules,1988.

Protect the interest of holders of insurance policies.

Regulate, promote and ensure orderly growth of the insurance industry.

Resolve matters connected therewith or incidental thereto.

CUSTOMER SERVICES

Sms Payment

ATM payment

TIC Business solution

Suvidha payment

Online payment

Payment through various authorized agents/Franchisee.

CONCLUSION