Project Guide:

Prof. Somdeb LahiriProfessor

(Economics)School of Petroleum Management, PDPU

Presented By:Ketan Gyanchandani

20141028

PGP14School of Petroleum Management, PDPU

“THE NUANCES AND WORKING OF RETAIL BANKING”

Objective of SIP To understand the functioning of Retail Branch of AXIS Bank

To look after the Jan Dhan Yojna Insurance Schemes

To look after the AXIS Hybrid Fund (Series 23)

Open an Account

Withdrawal from Account Apply for loan

Loan ExecutiveSales Executive / On Branch

Direct from Teller/Cashier

Executive Corporate office

Sales Executive Sales Manager Operation Head

Teller Operation Head

Customer Records in CRM Software

Customer Actions

Onstage Employee Action

Backstage Employee Action

Support Process

Blueprint of Service

Recent Trends Phenomenal rise in nuclear and dual income families & enhanced spending power

Emerging Technology Trends in Retail Banking

Effects on the Economy

Challenges Sustaining Customer loyalty

NPA reduction & Fraud prevention

Avoiding Debt Trap for customers

Bringing Rural masses into mainstream banking

PMSBY It is an Accidental Insurance Scheme which covers accidental death or disability on account

of accident upto Rs 2 lakhs with a premium of Rs 12/- per annum.

The age group of 18 to 70 years are entitled to join the scheme

Termination of Cover:

The accident cover for the member shall terminate on any of the following events and no benefit will be payable there under:

i. On attaining age 70 years (age nearest birth day).ii. Closure of account with the Bank or insufficiency of balance to keep the insurance in

force.

PMJJBY It is an Life Insurance Scheme which gives cover for death due to any reason upto Rs 2 lakhs

with a premium of Rs 330/- per annum. The age group of 18 to 50 years are entitled to join the scheme

Termination of Cover:

The assurance on the life of the member shall terminate on any of the following events and no benefit will become payable there under:

i. On attaining age 55 years (age near birth day) subject to annual renewal up to that date (entry, however, will not be possible beyond the age of 50 years).

ii. Closure of account with the Bank or insufficiency of balance to keep the insurance in force.

1%

99%

Chart TitleAXIS Bank Other

Banks like State Bank of India (20,982,384)Punjab National Bank (84,98,277)Bank of Baroda (70,11,230)have the highest numbers

http://www.jansuraksha.gov.in/Files/Reports/07.10.2015.pdf

The government has done a wonderful job in taking these initiatives to attract low income group people to get themselves covered against the risks of untimely death or accidental disabilities.

Since the target audience for these schemes is poor and unorganized sector of the society I personally would not recommend to person whose life insurance needs are much more than Rs 2,00,000/-.

Selection of an Insurance schemes is very important because the cover to these policies provide seems to be too small if we consider the thumb rule of life and accidental insurance, which is 10 times of annual income for life insurance and 5 times of annual income for accidental insurance.

Short Analysis

There is a serious doubt on settlement of claims & handling claims and other service related issues because of the assumption that there will be large volumes. Good back end team needs to be appointed to handle these policies after its complete roll out and delivery.

There is some guidelines for claim process such as filling Prescribed Claim Form, Discharge Form (in PMJJBY), providing the FIR report of accident (in PMSBY), Death Certificate, Civil Surgeon Certificate in case of Paralysis, etc. and submitted to the home branch within the 30 days of the death.

Claim Settlement Procedure

AXIS Hybrid Fund (Series 23)

This is 1275 days close ended debt schemes.

AXIS invest portion of investor’s money in Debt Instruments (83%) and remaining in equity and equity related instruments (17%) to participate in potential upside from equity markets.

It is lock-in period scheme where once the fund is invested, returned will be on maturity (after 3.5 years).

One of the better alternate of Fixed Deposits where investors get atleast 13-14% of guaranteed return.

1) Offers an attractive route to take equity allocation for conservative investors.

2) For long term growth, equity has potential of higher appreciation as compared to fixed deposits.

3) Blends equity participation with the relative stability of debt.

3 Reason to Invest

Functioning of the bank on the other side of the table

Customer Interactions

Dealing with the various Customers

Learn about the Mutual Fund

Key Learnings

References http://www.axisbank.com/investor-corner/annual-reports.aspx

http://jansuraksha.gov.in/

https://www.rbi.org.in/ http://www.axisbank.com/personal/index.aspx “Transforming banks, Redefining banking-Global banking outlook 2014–15” by EY

http://www.ey.com/Publication/vwLUAssets/EY_-_Transforming_banks_-_redefining_banking/$FILE/EY-Global-Banking-Outlook-Transforming-banks-redefining-banking.pdf

http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.428.9298&rep=rep1&type=pdf

http://www.strategyand.pwc.com/perspectives/2015-retailbanking-trends