Customer Preference

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Customer preference & attributes towards Saving Account of HDFC Bank A project report on Customer preference & Attributes towards saving-AccountIn Prepared by: Rajesh kr.Singh Mount Carmel school, Dwarka New Delhi-24 Customer preference & attributes towards Saving Account of HDFC Bank Acknowledgements If words are considered to be signs of gratitude then let these words Convey the very same. My sincere gratitude to Mr. Tushar Varshney, junior manager, HDFC BANK, Noida-29 and giving necessary directions on doing this project to the best of my abilities. I am highly indebted to Mr. Manish Panchal., Branch Manager, who provided me with the necessary information and also for the support extended out to me in the completion of this report and his valuable suggestion and comments on bringing out this report in the best way possible. Rajesh kr. singh Customer preference & attributes towards Saving Account of HDFC Bank Customer preference & attributes towards Saving Account of HDFC Bank CHAPTER 1 INTRODUCTION ………………. ………………………..3-11 1.1 General Introduction ………………………………………………………..3 1.2 Industry Profile……………………………………………………………… 3 a. Origin and Development of the industry……………………………4 b. Growth and Present Status of the industry………………………...6

Transcript of Customer Preference

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Customer preference & attributes towards Saving Account of HDFC Bank

A project report on“Customer preference &Attributes towards saving-Account”InPrepared by:Rajesh kr.SinghMount Carmel school, DwarkaNew Delhi-24Customer preference & attributes towards Saving Account of HDFC Bank

AcknowledgementsIf words are considered to be signs of gratitude then let these words Conveythe very same. My sincere gratitude to Mr. Tushar Varshney, junior manager,HDFC BANK, Noida-29 and giving necessary directions on doing this projectto the best of my abilities.I am highly indebted to Mr. Manish Panchal., BranchManager, who provided me with the necessary information and also forthe support extended out to me in the completion of this report and hisvaluable suggestion and comments on bringing out this report in the best waypossible.Rajesh kr. singhCustomer preference & attributes towards Saving Account of HDFC BankCustomer preference & attributes towards Saving Account of HDFC BankCHAPTER 1 INTRODUCTION ………………. ………………………..3-111.1 General Introduction ………………………………………………………..31.2 Industry Profile……………………………………………………………… 3a. Origin and Development of the industry……………………………4b. Growth and Present Status of the industry………………………...6c. Future of the industry ………………………………………….…….9CHAPTER 2 PROFILE OF THE ORGANISATION…………………..12-292.1 Origin of the Organization …………………………………………….. 132.2 Growth and Development of the Organization ……………………… 142.3 Present Status of the Organization ………………………………. 172.4 Functional Departments of the Organization ……………………... 192.5 Organization Structure and Organization Chart ……………………..222.6 Product and Service Profile of the Organization Competitors …….. 242.7 Market Profile of the Organization 28CHAPTER 3 DISCUSSIONS ON TRAINING - ………………………30-333.1 Student's Work Profile (Roles and Responsibilities) ………………. 313.2 Description of Live Experience 32

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CHAPTER 4 STUDY OF SELECTED RESEARCH PROBLEM … 34- 474.1 Statement of Research Problem………….. ……………………………354.2 Statement of Research Objectives ..……………………………...... .354.3 Research Design and Methodology………………………………… 354.4 Analysis of Data ………………………………………………. . 384.5 Summary of Findings …………………………………………………… 46CHAPTER 5 SUMMARY AND CONCLUSIONS …………………. 48- 525.1 Summary of Learning Experience………………………………….. 505.2 Conclusions and Recommendations …………………………………. 50APPENDIX ……………………………………………………………………………….52BIBLOGRAPHY………………………………………………………………………….56Customer preference & attributes towards Saving Account of HDFC Bank

CHAPTER-1INTRODUCTIONGeneral Introduction:-The project was carried out for understanding the customer preference &attributes towards saving Account of HDFC Bank and its marketpotential.HDFC Bank was established in the year 1994, they are oldplayer in banking sector, The bank has two principle client segments –customer and asset management. The bank follows values such as –Integrity, teamwork, respect, professionalism, & Mission. The segment ofbank we are considering here is- Corporate banking. The product out ofwhich have chosen for research is Saving Accounts. This research helpsus in finding out the customers view regarding the product and Servicesoffered by the HDFC bank and awareness by promotion and alsoidentifying the market potential of the product offered by the HDFCbank.Customer preference & attributes towards Saving Account of HDFC Bank

1.2 Industry Profile:-a.) Origin and development of the industry:-Banking in India originated in the first decade of 18th century. The first bankswere The General Bank of India, which started in 1786, and Bank ofHindustan, both of which are now defunct. The oldest bank in existence inIndia is the State Bank of India, which originated in the "The Bank of Bengal"in Calcutta in June 1806. This was one of the three presidency banks, theother two being the Bank of Bombay and the Bank of Madras. The presidencybanks were established under charters from the British East India Company.They merged in 1925 to form the Imperial Bank of India, which, upon India's

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independence, became the State Bank of India. For many years thePresidency banks acted as quasi-central banks, as did their successors. TheReserve Bank of India formally took on the responsibility of regulating theIndian banking sector from 1935. After India's independence in 1947, theReserve Bank was nationalized and given broader powers.A couple of decades later, foreign banks such as Credit Lyonnais started theirCalcutta operations in the 1850s. At that point of time, Calcutta was the mostactive trading port, mainly due to the trade of the British Empire, and due towhich banking activity took roots there and prospered.Customer preference & attributes towards Saving Account of HDFC BankFirst of all we must note the fact that these institutions have changed verymuch in character since their origin, and consequently nowadays performmany functions unknown to those of former times. The first banks seem tohave arisen in connection with the business of exchanging money. In ancienttimes and especially in the Middle Ages the varieties of coins were greatereven than at the present day, and they were much less perfectly and honestlyminted. Specialists were, therefore, required to determine their exact valueand equivalence and to exchange coins of one mintage for those of another,and their BANK were in great demand at fairs and other places wheremerchants of different nations met forpurposes of trade. Inasmuch as theykept their boxes or chests of coins on benches or "banken," the name bankerscame to be applied to them. On account of their technical knowledge and thefact that they were obliged constantly to keep on hand considerable quantitiesof the precious metals, this business in the early Middle Ages was usuallycarried on by goldsmiths, but later it was sometimes assumed by thegovernments of large commercial cities, as, for example, by Amsterdam in1609, by Hamburg in 1619, and by Nurnberg in 1621. Of these latter the Bankof Amsterdam was the most important and may be regarded as typical ofthese early institutions.From the earliest times also, bankers have been the chief agents throughwhich foreign exchanges have been conducted. As dealers in coin and bullionthey had international connections and a knowledge of international affairs notpossessed by other merchants, and were, therefore, in a position to undertakethe settlement of international accounts by means of orders drawn on bankersin other countries or other cities with whom they had regular businessCustomer preference & attributes towards Saving Account of HDFC Banktransactions. As keepers of other people's money they also promoted saving,and banks thus became in time the chief savings institutions of the country.

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b. Growth and present status of the industry: -Currently (2009), banking in India is generally fairly mature in terms of supply,product range and reach-even though reach in rural India still remains achallenge for the private sector and foreign banks. In terms of quality of assetsand capital adequacy, Indian banks are considered to have clean, strong andtransparent balance sheets relative to other banks in comparable economiesin its region. The Reserve Bank of India is an autonomous body, with minimalpressure from the government. The stated policy of the Bank on the IndianRupee is to manage volatility but without any fixed exchange rate-and this hasmostly been true.With the growth in the Indian economy expected to be strong for quite sometime-especially in its services sector-the demand for banking services,especially retail banking, mortgages and investment services are expected tobe strong. One may also expect M&As, takeovers, and asset sales.In March 2006, the Reserve Bank of India allowed Warburg Pincus to increaseits stake in Kotak Mahindra Bank (a private sector bank) to 10%. This is thefirst time an investor has been allowed to hold more than 5% in a privatesector bank since the RBI announced norms in 2005 that any stake exceeding5% in the private sector banks would need to be vetted by them.Customer preference & attributes towards Saving Account of HDFC BankCurrently, India has 88 scheduled commercial banks (SCBs) - 27 public sectorbanks (that is with the Government of India holding a stake)after merger ofNew Bank of India in Punjab National Bank in 1993, 29 private banks (thesedo not have government stake; they may be publicly listed and traded on stockexchanges) and 31 foreign banks. They have a combined network of over53,000 branches and 17,000 ATMs. According to a report by ICRA Limited, arating agency, the public sector banks hold over 75 percent of total assets ofthe banking industry, with the private and foreign banks holding 18.2% and6.5% respectivelyIntroduction of many more products and facilities in the banking sector in itsreforms measure. In 1991, under the chairmanship of M Narasimham, acommittee was set up by his name which worked for the liberalization ofbanking practices.The country is flooded with foreign banks and their ATM stations. Efforts arebeing put to give a satisfactory service to customers. Phone banking and netbanking is introduced. The entire system became more convenient and swift.Time is given more importance than money.In 1995, the Brookings Institution published a paper entitled “TheTransformation of the U.S. Banking Industry: What a Long, Strange Trip It’s

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Been.” Using a breathtaking array of facts and figures, the paper described ingreat detail the dramatic changes that had occurred in the U.S. commercialbanking industry over the 15 years from 1979 to 1994. The banking industrywas transformed during that period, according to the paper (p. 127), by “themassive reduction in the number of banking organizations; the significantCustomer preference & attributes towards Saving Account of HDFC Bankincrease in the number of failures; the dramatic rise in off-balance sheetactivities; the major expansion in lending to U.S. corporations by foreignbanks; the widespread adoption of ATMs; . . . and the opening up of interstatebanking markets.” The paper went on to explain that most of these majorchanges in banking could be traced to two developments: (1) theextraordinary number of major regulatory changes during the period, fromdeposit deregulation in the early 1980s to the relaxation of branchingrestrictions later in the decade; and (2) clearly identifiable innovations intechnology and applied finance, including improvements in informationprocessing and telecommunication technologies, the securitization and sale ofbank loans, and the development of derivatives markets. Other researchwould later confirm the paper’s assessments and its explanation of the courseof events in the banking industry over the period 1979–1994.Over the two decades 1984–2003, the structure of the U.S. banking industry indeed underwent an almost unprecedentedtransformation—one marked by a substantial decline in the number ofcommercial banks and savings institutions and by a growing concentration ofCustomer preference & attributes towards Saving Account of HDFC Bankindustry assets among a few dozen extremely large financial institutions. Thisis not news. As mentioned above, the decline in the number of bankingorganizations has been ongoing for more than two decades and has been welldocumented in the literature.3 Nevertheless, a brief overview will serve toclarify both the scope of the decline and the increasing concentration ofassets among the nation’s largest banking organizationsAt year-end 1984, there were 15,084 banking and thrift organizations (definedas commercial bank and thrift holding companies, independent banks, andindependent thrifts). By year-end 2003, that number had fallen to 7,842—adecline of almost 48 percent (figure 1). Distributed by size, nearly all thedecline occurred in the community bank sector (organizations with less than$1 billion in assets in 2002 dollars), and especially among the smallest sizegroup (less than $100 million in assets in 2002 dollars). Yet the communitybanking sector still accounts for 94 percent of banking organizationsCustomer preference & attributes towards Saving Account of HDFC Bank

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c. Future of the industry:-The burden of reporting and other regulatory requirements will fall heavily anddisproportionately on small banks unless remedial action is taken. Furtheradvances in information technology will permit the development of newproducts, BANK, and risk-management techniques but may also poseimportant competitive and supervisory issues. Nonbank entities will continuetooffer bank-like products in competition with banks, raising anew the questionof whether banks are still “special” and, more fundamentally ,whether banksare sufficiently different from nonblank firms to justify the maintenance of asafetynet for banks. It is useful, therefore, to try to chart the course of the bankingindustry in the next five to ten years and to consider what policy issues theindustry and regulators will face. The authors of this study do not pretend to beclairvoyant. They are mindful of the many financial predictions that wereonce offered with confidence but turned out to be wrong or premature. Thisstudy is perhaps best described as an exercise in strategic thinking. Itsapproach is to analyze what has happened in the recent past, consider indetail reasons for expecting recent trends to continue or to change, and drawthe consequences for bank and regulatory policies. As always, uncertaintiesabound, andCustomer preference & attributes towards Saving Account of HDFC Bankevents that may now appear fairly improbable may in fact shape the future.This paper closeswith a discussion of a number of such possible events. Thefuture-of-banking study addresses three broad questions:1. What changes in the environment facing banking can be expected in thenext five to ten years?2. What are the prospects for different sectors of the banking industry in thisanticipated environment? Because the banking industry is not monolithic anddifferent segments of the industry have, to some degree, differentopportunities and vulnerabilities, the study considers separately the prospectsfor large, complex banking organizations; regional and other midsize banks;community banks; and limited-purpose banks.3. What policy issues are the industry and regulators likely to face in the yearsahead? Separate consideration is given toCustomer preference & attributes towards Saving Account of HDFC Bank

CHAPTER-2

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PROFILE OF THEORGANISATION2.1 Origin of the Organization:-Housing Development Finance Corporation Limited, more popularly known asHDFC Bank Ltd, was established in the year 1994,as a part of the liberalization of the Indian Banking Industry byReserve Bank of India (RBI). It was one of the first banks to receive an 'inprinciple' approval from RBI,for setting up a bank in the private sector. The bank was incorporated with thename 'HDFC Bank Limited', with its registered office in Mumbai. The followingyear, it started its operations as a Scheduled Commercial Bank.HDFC Bank Limited. The Group's principal activities are to provide bankingand other financial BANK. The Group operates through four segments:Customer preference & attributes towards Saving Account of HDFC BankTreasury, Retail Banking, Wholesale Banking and Other Banking Business.The Treasury BANK segment consists of net interest earnings on investmentsportfolio of the bank and gains or losses on investment operations. The RetailBanking segment serves retail customers through a branch network and otherdelivery channels. This segment raises deposits from customers and makesloans and provides advisory BANK to customers. The Wholesale Bankingsegment provides loans and transaction BANK to corporate and institutionalcustomers. The Other Banking Operations segment provides BANK relating tocredit cards, debit cards, third party product distribution and primarydealership business and other associated costs. The Bank was Incorporated on30th August 1994. A new private sector Bank promoted by housing Development CorporationLtd. (HDFC), a premier housing finance company. The bank is the first of its kind to receivean in-principle approval from the RBI for establishment of a bank in theprivate sector. Certificate of Commencement of Business wasreceived on10th October 1994 from RBI. The Bank transacts both traditional commercialbanking as well as investment banking. HDFC, the promoter of the bank hasentered into anagreement with National Westminister Bank Pc. and its subsidiaries (Nat westGroup) for subscribing 20% of the banks issued capital and providing technicalassistance in relation to the banks proposed banking business.

2.2 Growth and Development of the Organization: -1994.

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Customer preference & attributes towards Saving Account of HDFC BankOn 16.1.1995, 90,79,930 No. of equity shares were allotted to Jarrington Pte.Ltd. Another 400,00,000 equity shares were allotted on private placementbasis to Natwest Group on 9.5.1995. 500,00,000 shares were allotted to thepublic on 9.5.95 The Bank opened its first branch in Ramon House atChurchgate, Mumbai on January 16th.The Bank has created an efficient operating system using well tested state-ofthe-art software.199570 No. of equity shares issued to subscribers to the Memorandum &Articles ofAssociation on 30th August 1994. On the same date 500,00,000 equityshares were allotted to HDFC promoters. 509,20,000 shares were allotted toHDFC Employees Welfare Trust and HDFC Bank Employees Welfare Trust on22nd December,1996HDFC Bank has entered the banking consortia of over 50 corporates,including some leading multinational companies, flagship companies of localbusiness houses and strong public sector companies.HDFC Bank has set up a state-of-the-art dealing room to handle alltransactions possible in Indian financial markets.The Certificates of Deposits were awarded a PP1+ rating which is the highestrating for short term instruments indicating superior capacity for repayment.2001Customer preference & attributes towards Saving Account of HDFC Bank- The Bank has opened its first branch in Aurangabad. HDFC Standard LifeInsurance has entered into a memorandum of understanding with theChennai-based Indian Bank. The Bank has launched the international Maestrodebit card inassociation with Master Card. HDFC Bank will launch its creditcard in June through link-ups with MasterCard and Visa.LTtrade.com hasentered into a strategic tie-up with HDFC Bank to provide Net banking BANKto online investors. Standard Chartered Bank, HDFC Bank and BharatPetroleum Corporation have joined the eCash Forum which has been set upby the Smart Card Forum of India. HDFC Bank has launched a new campaignfor its eage savings account. HDFC Bank entered into a strategic tie-up withTally Solutions Pvt. Ltd. to offer online real time accounting BANK to small andMedium enterprises.Today HDFC Bank has 1,412 branches and over3,295 ATMs, in 528 cities in India, and all branches of the bank are linked onan online real-time basis. ] As of September 30, 2008 the bank hadtotal assets of INR 1006.82 billion. For the fiscal year 2008-09, the bank hasreported net profit of Rs.2,244.9 crore, up 41% from the previous fiscal. Totalannual earnings of the bank increased by 58% reaching at Rs.19,622.8 crore

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in 2008-09.Customer preference & attributes towards Saving Account of HDFC Bank

2.3 Present Status of the Organization:-Housing Development Finance Corporation Limited, more popularly known asHDFC Bank Ltd, was established in the year 1994, as a part of theliberalization of the Indian Banking Industry by Reserve Bank of India (RBI). Itwas one of the first banks to receive an 'in principle' approval from RBI, forsetting up a bank in the private sector. The bank was incorporated with thename 'HDFC Bank Limited', with its registered office in Mumbai. The followingyear, it started its operations as a Scheduled Commercial Bank. Today, thebank boasts of as many as 1412 branches and over 3275 ATMs acrossIndia. AmalgamationIn 2002, HDFC Bank witnessed its merger with Times Bank Limited (a privatesector bank promoted by Bennett, Coleman & Co. / Times Group). With this,HDFC and Times became the first two private banks in the New GenerationPrivate Sector Banks to have gone through a merger. In 2008, RBI approvedMarch 2007 March 2008 March 2009Citied 228 316 452Branches 535 684 1412ATMs 1323 1605 3275Customer preference & attributes towards Saving Account of HDFC Bankthe amalgamation of Centurion Bank of Punjab with HDFC Bank. With this, theDeposits of the merged entity became Rs. 1,22,000 crore, while the Advanceswere Rs. 89,000 crore and Balance Sheet size was Rs. 1,63,000 crore.Head OfficeHDFC BankRamon House, 169, Backbay Reclamation,H T Parekh Marg, ChurchgateMumbai - 400020Phone: +91 (22) 66316000, 66636000, 66316060Fax: +91 (22) 22048834Website: www.hdfc.comTech-SavvyHDFC Bank has always prided itself on a highly automated environment, be itin terms of information technology or communication systems. All the brachesof the bank boast of online connectivity with the other, ensuring speedy fundstransfer for the clients. At the same time, the bank's branch network andAutomated Teller Machines (ATMs) allow multi-branch access to retail clients.The bank makes use of its up-to-date technology, along with market positionand expertise, to create a competitive advantage and build market share.Capital Structure

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Customer preference & attributes towards Saving Account of HDFC BankAt present, HDFC Bank boasts of an authorized capital of Rs 550 crore (Rs5.5billion), of this the paid-up amount is Rs 424.6 crore (Rs.4.2 billion). In termsof equity share, the HDFC Group holds 19.4%. Foreign Institutional Investors(FIIs) have around 28% of the equity and about 17.6% is held by the ADSDepository (in respect of the bank's American Depository Shares (ADS)Issue). The bank has about 570,000 shareholders. Its shares find a listing onthe Stock Exchange, Mumbai and National Stock Exchange, while itsAmerican Depository Shares are listed on the New York Stock Exchange(NYSE), under the symbol 'HDB'

2.4 Functional Departments of the Organisation:-The functional departments of the organization consists of the HR department,the administrative department and the executive department. The HRdepartment of the organization consists of the people who employ the Personswho they think would be able to do justice with the job handled.Theadministrative department of the organization consists of the director and themanager of the organization. They preside the organization and control all theoperations of the organization such that the organization could run in a smoothand effective manner. The executive department of the organization consistsof the various employees Who execute the job undertaken by them. Theemployees consists of the team leaders, the Corporate financial consultants,.the telecallers, various staffs and junior staffs who are the main structuralframework of the organization. The organization thus runs with the effectivecoordination of the HR department, the administrative department and theCustomer preference & attributes towards Saving Account of HDFC Bankexecutive department such that the supervisors of the organization presideover the subordinate employees to give them directions about fulfilling theirworks most efficiently and effectively. Technical Consultancy Department: TheTechnical Consultancy Department is responsible for technical appraisal ofindustrial projects. The mission of the division is aimed towards the verificationof the technical viability of industrial projects and assisting the Fundsmanagement in taking the decisions that require technical expertise.Moreover, it is responsible for conducting technical studies and renderingtechnical consultancy BANK to certain industrial sectors for the purposes ofinvestigating modern technologies and productivity levels for localmanufacturing plants.H R Department:HDFC Human Resources department plans and direct for the employeepopulation as well as they are having the following functions as:-

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Hiring Promotions Reassignments Position classification and grading Salary determination Performance appraisal review and processing Personnel data entry and records maintenanceCustomer preference & attributes towards Saving Account of HDFC Bank Policy development Work permitting immigration visa program Workers’ compensationFinance Department:The Finance Manager is responsible for all aspects of the accounting andfinancial administration of the HDFC, the supervision of the implementation ofthe HDFC financial policies, directives and procedures and the initiation of thefinancial plans within the guidelines of HDFC The department containsseveral distinct sections, each of which is responsible for a proportion of theactivities taking place within the finance department.Marketing Consultancy Department:The Marketing Consultancy Department plays and important role within theFund as it studies and analyzes marketing information in order to build solidbase for management decisions. The division also assists projects sponsors informulating solid marketing strategies to improve their industries andstrengthen their position in the local and international markets.Customer preference & attributes towards Saving Account of HDFC Bank

Research Department:The Research Department is having the capacity to act through fourcomposing units i.e., the market research unit, economic studies unit, andstatistical studies unit. It is the mission of the division to provide support BANKfor information and consultancy to the senior management and division in theareas of economic, statistical and marketing information and consultancythrough data analysis, processing of economic and statistical data, marketresearch studies and publishing related periodical reports.

2.5 Organization Structure and Organization Chart:-The organization structure of the company HDFC is such that it comprises ofthe departments and the employees in the hierarchical order so that they areable to perform their functions and duties smoothly and effectively doing their

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job in a manner in which it should be done. The organization is headed by theadministrative department which coordinates and controls the executivedepartment. The executive department is a link from the top and the bottomcomprising of the lower level employees such that they work together to fulfillthe common objective of getting business from the persons who get in touchwith them and see to it that they are provided with the best of the BANK whichconstitute giving financial advise to providing Account to the customers. Thelower level employees and the corporate financial consultants work together tosee to it that the database for providing financial BANK to sufficient number ofpeople is made .They work together to see to it that this database is followedand worked upon such that more and more number of people get themselvesavail the financial BANK of the organization. Team leaders who form the partCustomer preference & attributes towards Saving Account of HDFC Bankof the administrative department of the Organization make sure that the clientsthat turn up for the financial BANK are dealt with most efficiently andeffectively.The organizational structure is well planned out and it follows a simple formatwhich is follows:Organization Chart:-Customer preference & attributes towards Saving Account of HDFC BankEach team lead has a team comprising only of both senior as well as juniormarket research analyst who aid the team lead in the entire market researchprocess as it has been discussed previously. This is the basic organizationalstructure followed by HDFC BANK.Customer preference & attributes towards Saving Account of HDFC Bank

2.6 Product and service profile of the organization:-HDFC Bank offers a bunch of products and services to meet the every need ofthe people. The company cares for both, individuals as well as corporate andsmall and medium enterprises. For individuals, the company has a rangeaccounts, investment, and pension scheme, different types of loans and cardsthat assist the customers. The customers can choose the suitable one from arange of products which will suit their life-stage and needs. For organizationsthe company has a host of customized solutions that range from Fundedservices, Non-funded services, Value addition services, Mutual fund etc.

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These affordable plans apart from providing long term value to the employeeshelp in enhancingGoodwill of the company. The products of the company are categorized intovarious sections which are as follows:Personal BankingSavings AccountsSalary AccountsSaving AccountsFixed DepositsDemat AccountCustomer preference & attributes towards Saving Account of HDFC BankSafe Deposit LockersLoansCredit CardsDebit CardsPrepaid CardsInvestments & InsuranceForex ServicesPayment ServicesNetBankingInstaAlertsMobileBankingInstaQueryATMPhoneBankingNRI BankingRupee Savings AccountsRupee Saving AccountsRupee Fixed DepositsForeign Currency DepositsCustomer preference & attributes towards Saving Account of HDFC BankAccounts for Returning IndiansQuick remit (North America, UK, Europe, Southeast Asia)India Link (Middle East, Africa)Coequal Lock BoxIn today’s world many companies have emerged who have taken a seriousnote on the importance of market research and he advantages of using it forthe better growth and development of the company. Hence, our competitorsare those company’s who are in the market research and development field aswell as the consultancies, since they also make use of market research andbusiness developers.The products and BANK of our competitors are as follows:A. Customer Satisfaction Analysis:Customer analysis involves gathering data about the customers and their

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characteristics. They also conduct tailored customer satisfaction surveys togauze customer satisfaction.B. RiskThese BANK are used by the competitors in order to gather externalinformation and research the possible effect on the competitiveness ofcompany.C.Customer preference & attributes towards Saving Account of HDFC BankD. Product Research BANK:The conduction of extensive product research by this service helps thecompetitors to find out the marketability of a product or service. The researchcan be utilized to leverage the major decisions of a company on the marketingof its products.E. Advertising Research BANK:Advertising research strives to gain valuable information about the effects andreach of advertising the products in different forms of media.Given below are the steps we follow for every assignment wetake up:1. The timetable for the search is indicated and the search processcommences.2. Target companies are examined, using any prior information provided bybusiness development executives in conjunction with sources of informationand prospective companies already known to us, augmented with originalstudy by our search team.3. We maintain a regular channel of communication with the client to keepthem apprised of the results emerging.Customer preference & attributes towards Saving Account of HDFC Bank

2.7 Market profile of the organization:-HDFC Bank Limited provides various financial products and services. Itoperates in three segments: Retail Banking, Wholesale Banking, andTreasury. The Retail Banking segment provides various deposit products,including savings accounts, current accounts, fixed deposits, and demataccounts. It also offers auto, personal, commercial vehicle, home, gold, andeducational loans; loans against securities, property, and rental receivables;and health care finance working capital finance, construction equipmentfinance, and warehouse receipt loans, as well as credit cards, debit cards,depository, investment advisory, bill payments, and transactional services. Inaddition, this segment sells third party financial products, such as mutualfunds and insurance, as well as distributes life and general insurance productsthrough its tie-ups with insurance companies and mutual fund houses. The

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wholesale banking segment provides loans, non-fund facilities, andtransaction services to large corporate, emerging corporate, small andmedium enterprise, supply chain, public sector undertaking, central and stategovernment departments, and institutional customers. It offers deposit andtransaction banking products, supply chain financing, working capital and termfinance, agricultural loans, and funded, non-funded treasury, and foreignexchange products. These segments services include trade services, cashmanagement, money market, custodial, tax collection, and electronic banking.Customer preference & attributes towards Saving Account of HDFC BankIn addition, it provides correspondent bank services to co-operative banks,private banks, foreign banks, and regional rural banks; and wealthmanagement products for non-resident Indians. The Treasury Servicessegment operates primarily in areas, such as foreign exchange, moneymarket, interest rate trading, and equities. As of March 31, 2009, HDFC Bankhad a network of 1,412 branches and 3,295 automated teller machines in 528cities in India. The company was founded in 1994 and is based in Mumbai,India.In today’s growing world everyone needs to diversify their business so as tokeep in touch with the rapid development. By analyzing the growing concernsof the market, HDFC has clients varying from investment banking sector,retail, web designing companies, etc. Due to this rapid development HDFCGroup has many teams working for the above mentioned sectors.HDFC Bank began operations in 1995 with a simple mission: to be a "WorldclassIndian Bank". We realized that only a single-minded focus on productquality and service excellence would help us get there. Today, we are proud tosay that we are well on our way towards that goal.Customer preference & attributes towards Saving Account of HDFC Bank

CHAPTER-3DISCUSSIONSON

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TRAINING3.1 Student’s work profileRole and Responsibilities:-The work profile of the student or the roles and responsibilities that are beinghandled by the student on his internship programmed at HDFC BANK.The first day and during the first week of the internship programmed the newemployee of the HDFC BANK was welcomed by giving an inductionprogramme in order to make him understand his role and responsibilitiesduring his stay in the organization.Being appointed as a Financial Corporate Consultant at HDFC BANK duringthe internship programme my duty or the role is to meet 5 clients, collectingCustomer preference & attributes towards Saving Account of HDFC Bankfinancial health check, analyzing and giving them financial planning how theirnet asset value will be increase and how they fulfill their short-term and longtermfinancial goal so that it can be assessed that which ACCOUNT they needsuiting their financial obligations.Leads and databases created by the students have to be used by them inorder to convince people of different age groups to take account according totheir needs and suitability. The student calls people according to the leads and database createdby him and convinces people to take the account.During the absence of the recovery executives/collection executives, it willbe my duty and responsibility to meet the customers against payments apartfrom my regular job profile and reporting the same to my team leader at HDFCBANK. To explain the customers how a particular account would help them tomake their lives more secure providing security to them. I use all the financial knowledge that has been given by thecompany and I has as a MBA student and a student of Mar. sothat the customer realizes that he definitely needs to take aparticular account. Must educate the clients about risks and various possible scenarios sothat the clients don’t harbor unrealistic expectations.

3.2 Description of live experience:-Customer preference & attributes towards Saving Account of HDFC BankThe office of HDFC BANK is blessed by brilliant and skilled professionals andteam leader who have the responsibility of handling the Financial CorporateConsultants. The team leader provides the particular day’s plan of action and

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then guide show to go about for executing the plan of action successfully .Tillthe time a Financial Corporate Consultant is in the office he receives thevaluable suggestions and insights of the team leader. This prepares him forthe day’s Work and provides him the necessary directions to achieve not onlythe target of the day but the target of the month. In the office the FinancialCorporate consultant make calls continuously to fix the follow-up appointmentsso that on the basis of the financial health check collected by him and alsogetting the follow-up appointments from the telesales she goes in the field formaking up the appointments. The financial corporate consultants provide thepersons met the basics of why he should take a particular ACCOUNT toprovide to him.Customer preference & attributes towards Saving Account of HDFC Bank

CHAPTER-4STUDY OFSELECTEDRESEARCHPROBLEM4.1 Statement of research problem:-PROBLEM DEFINATION:Sales Executives were with good background human being and throughrigorous process of recruitment but still not able to perform up to theexpectation level of company, HR is not able to sort out the problem why theperformance is not coming even after giving the full marketing support. Thecommunication technique and dealing with the customers is also a problem tothe salesexecutives.4-2 OBJECTIVES OF RESEARCH PROJECT:Customer preference & attributes towards Saving Account of HDFC BankRESEARCH OBJECTIVES:To find out the customer preferences while opening Savings A/c.To study brand image of the bank.To increase the business of the bank.

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4.3 Research Design and MethodologyPrimary data source: All the people from different profession were personallyvisited and interviewed. They were the main source of Primary data. Themethod of collection of primary data was direct personal interview through astructured questionnaire.Secondary Data Source: It was collected from internal sources. Thesecondary data was collected on the basis of organizational file, officialrecords, news papers, magazines, management books, preserved informationin the company’s database and website of the company.SAMPLING PLAN:Since it is not possible to study whole universe, it becomes necessary to takesample from the universe to know about its characteristics.Sampling Units: CustomersSample Technique: Random Sampling.Research Instrument: Structured Questionnaire.Contact Method: Personal Interview.SAMPLE SIZE:Customer preference & attributes towards Saving Account of HDFC BankMy sample size for this project was 100 respondents. Since it was not possibleto cover the whole universe in the available time period, it was necessary forme to take a sample size of 100 respondents.RESEARCH LIMITATIONS:It was not possible to understand thoroughly about the different marketingaspects of the Financial Consultant within 60 days. As stipend, money was notgiven it was difficult to continue the project work. All the work was limited insome limited areas of Delhi so the findings should not be generalized. Thearea of research was Delhi and it was too vast an area to cover within 60days.All the findings and conclusions obtained are based on the survey done in theworking area within the time limit. I tried to select the sample representative ofthe whole group during my job training. I have collected data from peoplelinked with different profession at Bangalore.

4.4 Data AnalysisQ 1:What is your Monthly Transaction in your account ?Monthly transactions No. of respondents % (percentage)5-20 lakhs 28 28%20-40 lakhs 59 59%40 lakhs and above 13 13%Customer preference & attributes towards Saving Account of HDFC BankTotal 100 100%

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Chart 1:Analysis: 59% respondents gave their answer in 20-40 lakhs transactions. 28% respondents gave their answer in 0-20 lakhs transactions. 13% respondents gave their answer in 40 lakhs and abovetransactions.Question 2Do you have a Saving Account?Response No. of respondents %Yes 97 97%No 3 3%0%10%20%30%40%50%60%70%05L- 20L 20L - 40L 40L - Above05L- 20L20L - 40L40L - AboveCustomer preference & attributes towards Saving Account of HDFC BankChart 2:97%3%Yes No

Analysis: 97% respondents have the saving accounts and only 3% do nothave saving account.Question 3In Which Bank?Bank No. of respondents %Kotak mahindra 3 3%HDFC 33 33%Co-operative 48 48%ICICI 5 5%Nationalized 31 31%Chart 3Customer preference & attributes towards Saving Account of HDFC BankHDFC, 33%ICICI, 5%Nationalized, 31%Co- OperativeBank, 48%Kotak MahindraBank, 3%HDFC ICICI Nationalized Co- Operative Bank Kotak Mahindra Bank

Analysis: 48% have saving account in co-operative, 3% in kotak mahindra,33% in HDFC, 5% in ICICI, and 31% in nationalized bank.Question 4Which Factors do you consider for opening a Savings Account?No. of respondents %

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Accessibility 10 10Minimum balance 20 20DD/pay order 13 13Free cheque 10 10Debit card 8 8Cash deposit 7 7Cheque pick up 2 2Net banking 16 16Mobile banking 7 7At per cheque 3 3NEFT 2 2RTGS 2 2Total 100 100Customer preference & attributes towards Saving Account of HDFC BankChart 4

02468101214161820AccessibilityMinimumbalanceDD/pay orderFree chequeDebit cardCash depositCheque pick upNet banking

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Mobile bankingAt per chequeNEFTCustomer preference & attributes towards Saving Account of HDFC BankAnalysis:Respondents gave their answer10% respondents gave their answer in accessibility, 20% Minimum balance,13 % DD/pay order,10% Free cheque, 8% Debit card, 7% Cash deposit, 2%Cheque pick up, 16% Net banking, 7% Mobile banking, 3% At per cheque, 2%NEFT, 2% RTGS.Question 5Which mode of transaction do you avail of frequently?Response No. of response %Pay order 12 12DD 22 22Cheque 76 76Total 100 100Chart 5Cheque, 76%DD, 32%Pay Order, 12%Cheque DD Pay Order

Analysis:12% Response in pay order, 32% like DD, and 76 % costumer want fromcheque mode.Customer preference & attributes towards Saving Account of HDFC BankQuestion 6Which types of transaction do you make ?Response No. of respondents %Intercity 33 33Outside city 15 15Both 52 52Total 100 100Chart 6Analysis:Inter city, 33%Both, 52%OutsideCity, 15%Customer preference & attributes towards Saving Account of HDFC Bank33% account holder transaction intercity, 52 % Both, and 15% outside city.Question 7Does your bank assist you in case of any problem?Response No. of respondents %Yes 90 90No 10 10

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Total 100 100Chart 790%10%Yes No

Analysis:90% say yes bank will assist you in case of any problem, only 10% say no.Customer preference & attributes towards Saving Account of HDFC Bank4.5 Summary of FindingsThe final draft of the questionnaire was prepared on the basis of theobservations from the pilot study. These were then finally filled by 100customer, for the conclusive study.Finally the data collected was fed into the data analysis to be analyzedusing statistical techniques.Types of Primary Data collected:Socioeconomic Characteristics:characteristics are sometimes called “states of being” in that they representthe type of people. The factors on which we are working are occupation.Monthly transaction is also an important parameter but it is difficult toverify. Although the amount of money that business unit earns in a monthis an absolute, not a relative quantity but it is a sensitive topic in our societyand it is difficult to determine.Attitudes/Opinions:Through the questionnaire we have tried to get hold of businesspreference, inclination and requirement. Attitude is an important notion inthe marketing literature, since it is generally thought that the attitudes arerelated to the behavior of businessmen.Motivation:Customer preference & attributes towards Saving Account of HDFC BankThrough the questionnaire we have tried to find the hidden need or want ofbusinessmen and have tried to find if these people can be tapped as thepotential customer for HDFC Bank.Behavior:Behavior concerns what subjects have done or are doing. Through thequestionnaire we have tried to find out the behavior of the individualsregarding the product and their responses. If the responses are favorable thenthe person can be said to be our potential customer. The primary data servesas an important tool to measure the behavioral trend of the customer. It helpsin answering some of the vital Questions.Obtaining the Primary Data:The data collection was primarily done through communication.Communication involves questioning respondents to secure the desiredinformation, using a data collection instrument called questionnaire. Thequestions were in writing and so were the responses.Versatility:

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It is the ability of a technique to collect the information on the many types ofprimary data of interest to marketers. It has also been found that some of thepeople do not answer truthfully to all the questions especially in the case ofthe personal detailsCustomer preference & attributes towards Saving Account of HDFC Bank

CHAPTER 5

SUMMARYANDCONCLUSIONS5.1Summary of Learning ExperienceAlmost all the Banks offer similar features and facilities with their Savingsaccounts. There are certain reasons for existing customers of SavingAccount of any Bank to shift to another Bank.Customer preference & attributes towards Saving Account of HDFC BankThe level of service in terms of delivering whatever is promised, fastresponse in case of problems, is the most important benefit that thecustomers seek, from the Bank they have a Saving Account with.1. Network reach and visibility of a Bank is a very important criterion forthe customer while opening a Saving Account. We can also concludefrom our analysis that network reach in terms of Branches and ATMs isdirectly proportional to the market share in case of Private Players.2. In case of a new customer, if a bank approaches it first for opening aSaving Account with them, then there is a good chance for the bank ofgetting many future businesses and cross sales from the deal.3. Aggressive Marketing is the key to increasing the market share in thisarea, since the market has a lot of potential both in terms of untappedmarket .Conclusions and Recommendations1. Contract Sales Executive (CSE) should be trained to explain theproduct features and its value added services to make customer’sproduct selection convenient.2. Contract Sales Executive (CSE) should recommend right product tothe right customer so as to ensure a high degree of satisfaction amongthe customer.

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Customer preference & attributes towards Saving Account of HDFC Bank3. The bank needs to make people aware about there products and thebasic benefits they can derive out of it. And also the differentialfeatures of its savings account as compared to other banks.70% of thepeople did not even know about the concept, benefits and features ofits saving accounts.4. The bank should also target small business unit for whom maintenanceof the AQB is not a problem as this segment is not much penetrated.5. Though the bank offers free doorstep banking once a day this fact isalso not known to many customers or they still do not trust this servicewhat ever the reason the bank can popularize this service to gain anedge over nationalized banks and Co-operative Banks.6. Quality of service has been rated highly important by all demofigureicfactors as a reason for banking with a particular bank, StandardChartered needs to improve the services provided to its existingcustomers before attracting more in the future and use word of mouthas a promotional tool to increase the sales potential of its savingsaccount.LIMITATIONSSome of the limitations of the project are listed as below:Customer preference & attributes towards Saving Account of HDFC Bank1. The time bound period is the major limitation in research projects.2. Due to the financial and time constraints a cluster analysis of thepopulation so as to get better results was not feasible.3. The research conduct in Bangalore city only.4. It was difficult to break the ice with the common people initially. It was adaunting task to convince them to fill in the personal details of thequestionnaire where they have to mention the monthly income,occupation etc.5. To convince the people for a proper interviewing process is alsodifficult.6. Compilation of data on competitor analysis was difficult due to nonavailabilityof correct information.7. The figures have been taken as approximations.Customer preference & attributes towards Saving Account of HDFC Bank

QUESTIONNAIRECustomer

preference & attributes towards Saving Account of HDFC BankName of Respondent

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_________________________________Contact No._______________________1. Monthly Transaction?________________________________________________2. Do you have saving Account?(a) Yes (b) No3. If Yes Which bank’soICICIo HDFCo Kotak Mahindra Banko Nationalizedo Other Banks _________________o Co-Operative Banks___________________Customer preference & attributes towards Saving Account of HDFC Bank4. Which Factors do you consider for opening a saving Accounto Accessibilityo Minimum Balanceo DD/ Pay Ordero Free Chequeo Debit Cardo Cash Deposit5. Which mode of transaction do you avail frequently?(a) Cheque ( b) DD (c) Pay Order6. Which type of transaction do you made(a) Inter city (b) Intra city (c) Both7. Does your bank assist you in case of any problem(a) Yes (b) NoCheque Pick upo Net Bankingo Mobile Bankingo At Par Chequeso NEFTo RTGSCustomer preference & attributes towards Saving Account of HDFC Bank8.. What are the additional Benefits do you expect from a Saving Account?_____________________________________________________________________________________________________________________________________________.Date___________________Place__________________SignatureCustomer preference & attributes towards Saving Account of HDFC Bank

BIBLIOGRAPHY

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1.BOOKS & AUTHORS· Marketing Management2. NEWS PAPERS· Times of India· Financial Express3. WEBSITES· www.hdfcbank.comwww.google.com