Project Final Swati

8/12/2019 Project Final Swati

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Retail Banks in

Kanpur The Growth Drivers

Project Guide: Submitted By:

Mr Sanjay Kumar Singh SwatiKanodiaManager Customer Relations, MBA- 2ndyear,

Standard Chartered Ban, !"S#$M

%an&ur '2(()-*(+

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PRAC

With myriad trends shaping the global retail banking landscape, it is sometimesdifficult to see the big picture through the clutter of news and information that sooften blocks a clear view of highly complex industries. Yet the fact remains that

the retail segment brings in nearly 6 percent of the total banking revenuesworldwide. !t is therefore critical to gain a clear perspective of this industry. "heissue of retail banking is extremely important and topical. #uch of the growth inthe worldwide banking industry can be attributed to the surge in the retail$bankingsector in the %sia &acific region and the countries of 'atin %merica. "he (ankingindustry in the economies o. Bra/il, Russia, "ndia and china 'BR"C+has beenshowing exemplary growth.

"he higher growth of retail lending in these emerging economies is attributable tofast growth of personal wealth, favourable demographic profile, rapid

development in information technology, the conducive macro$economicenvironment, financial market reforms, and several micro$level supply sidefactors. "raditional barriers to open markets ) both regulatory and political $ arefalling around the world and should continue to crumble, piece by piece. %t thesame time, maturing markets and significant consolidation in highly developedWestern economies are forcing ma*or players to sharpen their value propositionsat home. %s domestic battles for differentiation become fiercer and as numerousplayers attempt to plant flags in the same emerging markets, overall competition inthe industry is becoming more and more intense.

"he retail baning scenario in "ndiahas been going through a similar kind oftransformation since the past decade. +etail banking in !ndia has fast emerged asone of the ma*or drivers of the overall banking industry and has witnessedenormous growth in the recent past. (anking as a whole is undergoing a change. %larger option for the consumer is getting translated into a larger demand forfinancial products and customisation of services is fast becoming the norm than acompetitive advantage.

"hus, the fact that +etail (anks are one of the essential and inevitable growthengines of the economy cannot be denied. % well functioning economy cannot dowithout them. "hey perform a wide variety of functions from accepting deposits togranting loans to managing the wealth of clientele. "heir sound existence keepsthe economy functioning well.

"he, pro*ect Retail Banks in Kanpur The Growth Drivers,aims to analysethe most preferred banks in anpur and the reasons for operating with such banks.!t also includes an empirical study of the branch banking operations of -tandardhartered (ank and promotion of e-aver.

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0able o. Contents

1. 0eclaration.2. ertificate...3/. %cknowledgement.6

. 4xecutive -ummary...53. !ntroduction6. What are +etail (anks7..................................................................................................85. -cenario of +etail (anking in !ndia.1. +esearch #ethodology18. 9b*ectives of +esearch131. "ools used for 0ata ollection1611. +etail (anking -cenario in anpur.1512. :eographical 0istribution of (anks in anpur...11/. %nalysis and ;indings of the -econdary 0ata.181. %nalysis and ;indings of the &rimary 0ata.2

13. % (rief ues...622. "ypes of learing.2/. ;acility of -afe 0eposit 'ockers..312. -avings %ccount..3/23. urrent %ccount...33

26. "erm 0eposit...3625. redit ards.32. !nsurance..328. &riority (anking...38/. Wealth #anagement38/1. 0escription of e-aver...6/2. omparative %nalysis of e-aver .62//. %nalysis and ;indings of &rimary 0ata...63/. ?iews of 4xperts .6/3. -uggestions and +ecommendations.5/6. onclusion...51

/5. (ibliography5//. @uestionnaire...5


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#C1ARA0"$

!, -wati anodia, hereby declare that the pro*ect report entitled 3Retail

Bans in %an&ur 4 0he Gro5th #ri6ers7has been written and submitted

by me to (anasthali Aniversity in partial fulfillment of the re>uirement for

the degree of #(%. "his is my original work and the conclusions drawn

therein are based on the data collected by myself.

! further declare that this pro*ect work has not been submitted to this or any

other university for the award of any other degree or diploma or e>uivalent

course.

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Acno5ledgment

!t is a pleasure to record my thanks and gratitude to persons and organi=ationswhose generous help and support enabled me to complete this pro*ect within thestipulated time period.

#y special thanks are due to Miss 0eresa Rathore, -enior +esourcing #anager,-tandard hartered (ank, and Mr8 0a&as Maitra, (ranch #anager, anpur forproviding me with an opportunity to work in -tandard hartered (ank.

With deep gratitude and respect, ! would like to thank my pro*ect guide , Mr8Sanjay %umar Singh, #anager ) ustomer +elations, for his valuable supportand criticism. Without his guidance, support, encouragement and timely help thispro*ect would not have been possible.

! pay my due regards and gratitude to Mr8 9inay Rai B+elationship #anagerC,Mr8 %eshari $jhaBustomer 4xperience #anagerC, Mrs8 Sangeeta MuherjeeB%ssistant +elationship #anagerC, Mr8 Rachit Sri6asta6a B&ersonal ;inancial#anagerC and Mr8 9ias MishraB!nvestment %dvisorC for giving me the benefitof their precious time, knowledge, experience and suggestions at all times. ! amespecially greatful to #r. ?inay +ai and #r. eshari 9*ha for their support andfor the wealth of knowledge that they have shared with me. ! also owe a specialthanks to Mr8 0arun hawho was of great help in the compilation of the pro*ect.

! am greatly indebted to all those persons who have helped me in some way or

other in the completion of the pro*ect.

"he .aculty of my institute deserves the praise for their role in shaping thissummer training pro*ect.

'ast but not the leastD ! would like to mention that had it not been for the support,

encouragement and unconditional love of my family and friends, this pro*ect

would not have been possible. ! thank them for the freedom, support and

encouragement that they gave me.


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;ecuti6e Summary

+etail banking will remain the dominant source of revenue for banks worldwidethrough 213. !n 26, the retail banking business accounted for E1.22 trillion inrevenues, or about 35F of the global banking revenue pool of E2.13 trillion.

"hrough 213, retail revenues will expand at an estimated compounded annualgrowth rate B%:+C of /.2 F in real terms. ;actoring in an inflation rate ofroughly /F, overall growth should add up to about 6 to 5 percent. ompetition inthe global retail banking industry will become increasingly intense.

"n "ndiatotal asset si=e of the retail banking industry grew at a rate of 12F toreach a value of G66 billion in 23. "his growth in retail banking sector hashelped in the growth of the overall banking sector. !n future the retail bankingindustry in !ndia is likely to reach a value of G/ billion by 21. +etail bankinghas immense opportunities in a growing economy like !ndia. A8 08 %earney, a

global management consulting .irm, recently identified !ndia as the Hsecondmost attractive retail destinationH of / emergent markets.

While retail banking offers phenomenal opportunities for growth, the challengesare e>ually daunting.


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"0R$#=C0"$

$rigin o. the 5ord

"he name bank is derived from the !talian word bancoHdeskJbenchH, used during the

+enaissance, who used to make their transactions above a desk covered by a greentablecloth.

"he essential function of a bank is to provide services related to the storing of value andextending credit. "he evolution of banking dates back to the earliest writing, andcontinues in the present where a bank is a financial institution that provides banking andother financial services.

!hat is Baning>

%ccepting deposits of money from the public

'ending and !nvesting

0eposits are repayable on demand and withdrawable by che>ue, drafts, orders

;acilitate money transactions such as wire transfers and cashier checks.

!ssue credit cards, %"#, and debit cards.

9nline banking

-torage of valuables, particularly in a safe deposit box.

6olution o. Baning in "ndia

(anking in !ndia originated in the last decades of the 1th century. "he oldest bank inexistence in !ndia is the -tate (ank of !ndia, a government$owned bank that traces itsorigins back to Lune 16 and that is the largest commercial bank in the country.

entral banking is the responsibility of the +eserve (ank of !ndia, which in 18/3formally took over these responsibilities from the then !mperial (ank of !ndia, relegatingit to commercial banking functions. %fter !ndiaMs independence in 185, the +eserve(ank was nationali=ed and given broader powers.

urrently, !ndia has scheduled commercial banks B-(sC $ 25 public sector banksBthat is with the :overnment of !ndia holding a stakeC, /1 private banks Bthese do not

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have government stakeD they may be publicly listed and traded on stock exchangesC and/ foreign banks. %ccording to a report by !+% 'imited, a rating agency, the publicsector banks hold over 53 percent of total assets of the banking industry, with the privateand foreign banks holding 1.2F and 6.3F respectively.

!hat are Retail Bans>

% retail bank is a bank that works with consumers, otherwise known as MretailcustomersM. +etail banks provide basic banking services to the general public,includingN hecking and savings accounts

ommercial 0eposits

-afe deposit boxes

#ortgages

%uto loans

Ansecured and revolving loans such as credit cards, etc.

"odayIs retail banking sector is characteri=ed by three basic characteristicsN

multiple products Bdeposits, credit cards, insurance, investments and securitiesC

multiple channels of distribution Bcall centre, branch, !nternet and kioskCD and

multiple customer groups Bconsumer, small business, and corporateC.

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SCAR"$ $ R0A"1 BA%"G " "#"A

"ransition from class banking to mass banking and from sellersI market to buyersImarket is drastically changing !ndiaIs banking sector. "oday, retail banking is one of thecore business segments in most of the prominent !ndian banks.%s the growth story getsunfolded in !ndia, retail baning is going to emerge a major dri6er. +etail bankingbusiness has been booming in the country during the last few years. (ut thenwhat hascontributed to this retail growth7

;irst, economic &ros&erity and the conse?uent increase in &urchasing &o5er.0uring the 1 years after 1882, !ndiaMs economy grew at an average rate of 6.percent and continues to grow at the almost the same rate ) not many countries in theworld match this performance.

-econd, changing consumer demogra&hics indicate vast potential for growth in

consumption both >ualitatively and >uantitatively. !ndia is one of the countries havinghighest proportion B5FC of the population below /3 years of age Byoung populationC.

"hird, technological .actorshave played a ma*or role.

;ourth, decline in interest rateshave also contributed to the growth of retail credit

by generating the demand for such credit.

%t the start of the century, !ndia was *ust one of the many outposts for most global banks.%sia was recovering from a crisis and most multinational banks were reviewing theiroptions. !ndia,s contribution to profits was minuscule. 4ight years later, !ndia is amongthe top 1 markets for the three top foreign banks in !ndia O itigroup, StandardCharteredand uality services to their customers. "he field is very competitive as it demands innovativeproduct range, competitive price, multi$channel distribution, and high >uality productsand services.

%ccording to the +(!, commercial banksI deposits were at +s /,53,22 crore on #arch1, 2. "he bank credit is growing at /F per annum and retail credit is expected to

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""+ State Ban o. "ndia and Associate Bans

-tate (ank of !ndia

-tate (ank of (ikaner and Laipur

-tate (ank of


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-(! ommercial and !nternational (ank 'td.

-outh !ndian (ank 'td.

"amilnad #ercantile (ank 'td.

Anited Western (ank 'td.

9+ e5 Pri6ate Sector Bans

(ank of &un*ab 'td. Bsince merged with enturian (ankC

enturian (ank of &un*ab Bsince merged with


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Research Methodology

All progress is born of inquir!

Doubt is often better than overconfi"ence# for it lea"s to invention!

%bove maxim by


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industrial activity, anpur is one of the most appropriate places to conduct anyresearch related to the (anking -ector.

$bjecti6es o. Research

"he research that has been undertaken has been segmented into two partsN

"he first part deals with Retail Bans in %an&ur. "he ob*ectives sought to be

achieved under this are as followsN

o Andertake a comparative analysis of the Qationali=ed (anks vis$P$vis the &rivate

(anks.

o

"o find out the most K&referred (anksI in the city.

o "o investigate the opinion that people hold about their (anking 4xperience.

o %n empirical study of the branch banking operations of -tandard hartered (ank,

anpur.

"he second part deals with a specific product of -tandard hartered, eSsa6er. "he

aim here is to analyse the awareness of the product in the business community inanpur and generate positive leads for sales conversion.

0he Study"his research is descri&ti6e and conclusi6e in naturebecause it aims to collect the dataabout the attitude Bpreference, familiarity, knowledge, etc.C of respondents Bi.e. customersavailing banking servicesC towards various retail banks in anpur, which is behavioralvariable of the sample under the study. "he research approach used is survey based andthe analysis is largely based on the primary data.


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Sam&le Si/e

"he sample si=e for the study was kept at 1. 'arge sample si=e is sub*ected to manycomplications and wastage of time R money. "his sample si=e was fair enough toachieve reliable results for the study undertaken.

Sam&ling Procedure

!t describes the method as to how the respondents should be chosen. !n this study wehave adopted the route of ran"o$ sa$plingbecause the study did not re>uire any specialgroup of customers as the respondents.

0ools used .or data collection

"he research has been carried out through a combination of two methods, making use ofboth primary and secondary data. "he methods adopted have been described as underN

Secondary #ata

-econdary research describes information gathered through literature, publications, andother non$human sources. -econdary data is in general easier to gather than primary data."he prime source of information under this head was the 1ead Ban o. %an&ur, Ban

o. Baroda8 !t provided excellent material which augmented the primary researchundertaken for the study.

-urfing the "nternet proved to be very useful. !t provided a wealth of high >ualitytheoretical articles, research tools undertaken by different students in the same field andspecific information about the industry. Ase of some 0e;t Booswas also made.

e5s&a&ers presented the true picture of +etail (anking -cenario in !ndia. "heyprovided important information of the current situation and views of experts related to theindustry.

Primary #ata

!t is the information which is collected by the researcher himself. !t is specific to theproblem under hand. "his research was carried out through sur6ey methodwith the helpof a ?uestionnaireconsisting of ) closed ended and o&en ended ?uestionsseeking therespondentsI opinion and suggestions. 0ue to flexibility, >uestionnaire method is ideallysuited for collection of primary data. "he >uestionnaire was formulated in 4nglish tomake the response easy and to avoid any confusion. @uestionnaires were administered

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with the help of structured personal interviews to get the respondentIs opinion andsuggestion Bif anyC about the topic.

#ata Analysis

Anless the data collected is analysed and studied properly, the entire effort of undertakingthe research would prove to be a futile exercise. "hus, to reach at a concrete conclusion avital element of a successful research is 0ata %nalysis. !n the study under hand an efforthas been made to analyse the data collected both >uantitatively and >ualitatively.

Retail Baning Scenario in %an&ur

"he biggest city of Attar &radesh and eight biggest in !ndia, anpur is the mostimportant metropolis of the -tate. ;rom the point of view of industrialpotentialities, it is the fourth. 9ther functions and service centres have alsoprospered side by side. "he industries of anpur are variedD textile industries,woollen, *ute and leather industries predominate. "his is mainly due to its centrallocation in the -tate. "he urban industrial structure of anpur with its developingcomplexities has exhibited a tremendous growth since 181. !n this city, in spite of

a low percentage of irrigated area, the density is high and that is obviously due togreat industrial concentration.

-uch a developing industrial scenario demands a well$established bankingstructure. "his is a well$known fact that a sound financial market is a pre$re>uisitefor a progressing industrial market. anpur has an advanced banking structure."here are a sufficient number of Qationali=ed, &rivate and ooperative (anks tomeet the needs of the deni=ens. "he geographical distribution of some importantbanks in the city has been indicated on the following page.

"he map clearly indicates that the ma*or centres of banking operations are &hool(agh, #all +oad and #.:. +oad. "his, however, does not mean that the otherareas of the city are devoid of any branches. "he branches of different banks arespread well over the entire city so as to assure easy approach to the banks for thepeople.

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Ma& sho5ing Geogra&hical #istribution o. Bans in %an&ur

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Results and indings o. the Secondary #ata collected

4very city has a 'ead (ank. "his bank is responsible for the overall development of thebanking structure in the city. "his bank collects the information relating to the 0epositsand %dvances of all the other (anks. Qo bank other than the 'ead (ank can provide this

information. "he 'ead (ank in anpur is (ank of (aroda. "he following data has beencollected from the 'ead (ank.

Bans ha6ing Branches in both Rural and Metro Areas

S8o8ame o. Ban

umber o.

Branches

#e&osits 'in

Crores+

Ad6ances 'in

Crores+

Metro Rural Metro Rural Metro Rural1 (ank of (aroda / 1/ 121.16

121.

868./3 8.

2 -tate (ank of !ndia 51 11 /8 15./6 2/61 /.

/ &un*ab Qational (ank 2 3 235.3 53.86.5

1 15./8

entral (ank of !ndia // 6 812.2612.3

6/3.6

/ /2.63

3 %llahabad (ank 2 1 11/.2/ 1.535.1

1 /5.56

6 (ank of !ndia 1/ / 121 8.6 368 1.11

5 Ao (ank 1 1 //1.63 5.3 8.6 1.23

( A & :ramin (ank 5 3 125.2.5

2 1.1 186./

ationalised Bans ha6ing Branches only in Metro

S8

o8ame o. Ban

umber

o.

Branches

#e&osits

'in

Crores+

Ad6ances

'in

Crores+

1 Anion (ank of !ndia 2 116./1 /23.8

2 &un*ab and -indh (ank 8 186

/ -tate (ank of (ikanerand Laipur

6 2/3.8 5.81

-tate (ank of &atiyala 16.2 62.85

3 -tate (ank of !ndore 2 21.2 36.11

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6-tate bank of


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!Q: ?saya (ank 'td. 1 6

3 arnatka (ank 'td. 1 15.8 2.61

Coo&erati6e Bans

S8

o8ame o. Ban

umber

o.

Branches

#e&osits

'in

Crores+

Ad6ances

'in

Crores+

1 A& ooperative (ank 5 383.5 135.3

2 (rahmavantooperative (ank

5 /.25 25.3

/ Anited #ercantileooperative (ank

12 1/ 5

!ndian #ercatileooperative (ank

1 8.15 .23

e5 Pri6ate Sector Bans

S8

o8ame o. Ban

umber

o.

Branches

#e&osits

'in

Crores+

Ad6ances

'in

Crores+

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Analysis o. the Secondary #ata

When the above data was aggregated it was seen that F of the #e&osits in %an&urarein the hands of 11 banks shown in the graph. "hese 11 banks constitute 2F of the bankspresent in anpur. "hus these banks have been selected by applying the Pareto &rinci&le

of N2.

#e&osits in Bans

/3/1.86

35.6 383.5

11.2116./1111.6 113.1

1//3.6

21//.2

165./6

3

1

13

2

23

/

/3

3

-tandard

hartered

(ank

9rien

atal(

anko

fommerce

(A&:

ramin(a

nk

A&ooperative

(ank

entral(a

nkof!ndia

Anion

(ank

of!ndia

(ank

of!ndia

%llah

abad

(ank

(ank

of(aroda

&un*abQ

ational(a

nk

-tate(a

nkof!ndia

2ame o. Ban

Amount'inCrores+

indings:

"he, above graph clearly indicates that not even one private bank has been able to make itto the top 11 banks in terms of deposits. "he list contains 1 nationalised banks and 1cooperative bank.

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-imilarly, as per the &areto principle, F of the Ad6ances in the cityare made by 1i.e. 2F of the banks. "he following graph illustrates thisN

Ad6ances made by Bans

/23.8 //.2 /8.6113

3.5 61.11628

86.116/.53

2.

3

1

13

2

23

/

Anion

(ank

of!ndia

entral(a

nkof!nd

ia

anara(an

k


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Qext we compare banks in terms of the number o. branchesthey have in the city. "hiswould help us in analy/ing the reacha specific bank has in the city. We continue withthe same &areto &rincipleN

Geogra&hical reach o. Bans

11 12

16

2 21

/8

/

5

32

2

1

2

/

3

6

5

8

A

o(ank

Anited#

ercantile

ooperative(

an

(ank

of!ndia

Anion(a

nkof!ndia

%llahabad

(ank

entral(a

nkof!ndia

(ankof(aroda

&un*abQa

tional(

ank

(A&:r

amin(a

nk

-tate(a

nkof!ndia

2ame o. Ban

2umbero

.Branche

indings:

%n analysis of the graph clearly indicates that the nationali=ed banks have a greaternumber of branches in the city compared with any of the private banks. (ut the >uestionthat arises is that does a greater number of branches alone prove greater profitability ofthe banks. Qo, it surely does not. We need to analyse the average deposits and advancesper branch. "he following 2 graphs help in this regard.

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A6erage #e&osits &er Branch

63.6 68.155. 3.1

6./8 8.313.

1.31

13.52

/3.

.

3.

1.

13.

2.

23.

/.

/3.

.

!ndus!nd

(ank

(ank

of!ndia

,otak

#ahind

ra(a

nk'td.

A&ooperative

(ank

9rien

atal(

anko

fom

merce

!0(!

(ank


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Qext we compare the Ad6ances made by bans &er branch. "he banks have beenselected on the same &areto principle. "he graph below indicates the top 1 banks inanpur on this parameterN

A6erage Ad6ances &er Branch

25.3

/5.15 /.1/

2./ 2.63

68.82

1./

1/.//

2.628.2

2

6

1

12

1

16

%llahaba

d(an

-tate(ank

of!ndor

-tate(ank

of!nd

9rie

natal(

ank

of.om

me

(ank

of!ndia

Lammuand,asmir(a

0ena(ank

.anara(ank

!.!.!(

ank

uartered in

'ondon. !ts businesses however, have always been overwhelmingly international.

Message .rom Peter Sands, 0he C$

The bank is in great shape we are well positioned in growing markets. %ur strateg,as expressed in our &ea"ing the 'a statement, remains unchanged except for the

recognition that we must continuously improve the way we work.

0he arly years

-tandard hartered is named after two banks, which merged in 1868. "hey wereoriginally known as the -tandard (ank of (ritish -outh %frica and the hartered (ank of!ndia, %ustralia and hina. 9f the two banks, the hartered (ank is the older having beenfounded in 13/ following the grant of a +oyal harter from @ueen ?ictoria. Qine yearslater, in 162, the -tandard (ank was founded by a group of businessmen. "he hartered(ank opened its first branches in 13 in alcutta and #umbai. % branch opened in-hanghai that summer. "he following year the hartered (ank opened a branch in ue in

18, (otswana in 185, #alawi in 181, Tambia in 186, enya, Tan=ibar and the0emocratic +epublic of ongo B0.+..C, in 1811 and Aganda in 1812. !n %sia thehartered (ank expanded opening offices in, #yanmar in 162, what is now &akistanand !ndonesia in 16/, the &hilippines in 152, #alaysia in 153, Lapan in 1 and"hailand in 18. -ome / years after the hartered (ank appointed an agent in -ri'anka it opened a branch in 182 to take advantage of business from the tea and rubberindustries. 0uring 18 a branch opened in ?ietnam. (oth the hartered and the-tandard (ank opened offices in Qew York and


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Standard Chartered in the *DD(s

4ven within this period of apparent retrenchment -tandard hartered expanded itsnetwork. -tandard hartered now has an office in every country in the %sia &acific+egion with the exception of Qorth orea. !n 1888, -tandard hartered ac>uired the

global trade finance business of Anion (ank of -wit=erland. "his ac>uisition made-tandard hartered one of the leading clearers of dollar payments in the A-%. -tandardhartered also opened a new subsidiary, -tandard hartered Qigeria 'imited in 'agos,ac>uired 53 per cent of the e>uity of Qakornthon (ank, "hailandD and agreed terms toac>uire 8 per cent of the share capital of #etropolitan (ank of the 'ebanon.

Standard Chartered 0oday

"oday -tandard hartered is the worldMs leading emerging markets bank employing

/, people in over 3 offices in more than 3 countries primarily in countries in the%sia &acific +egion, -outh %sia, the #iddle 4ast, %frica and the %mericas."he new millennium has brought with it two of the largest ac>uisitions in the history ofthe bank with the purchase of :rindlays (ank from the %QT :roup and the ac>uisitionof the hase onsumer (anking operations in


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SCB $RGA"EA0"$ S0R=C0=R

1C %frica 1C %sia 1C -trategy 1C


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SCB B=S"SS

-tandard hartered (ank

!holesale

Ban

Consumer

Ban

Su&&ort

Ser6ices

"0 F Ser6ice

#eli6ery

ustomer+elationships

.+.

:lobal #arkets

%sset#anagement

&'

#ortgages

-hared0istribution

Wealth#anagement

-#4

Qational -ales

;inance


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SCB $rgani/ation Structure, %an&ur

#+ ) #anager ustomer +elations"-# ) "eller -ervice #anager+# ) +elationship #anager4# ) ustomer 4xperience #anager&;# ) &ersonal ;inancial #anager-4 ) ustomer -ervice 4xecutive

/

#esh6ir Ahlu5alia

+


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Branch baning o&erations o. SCB

"+ #aily Cash 4 Related Acti6ities

"he ustomer -ervice 4xecutives 'CSs+ are responsible for these activities of thebranch. "hey are also known as 011RS


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'H+ Real 0ime Gross Settlement 'R0GS+

+":- system is a funds transfer mechanism where transfer of money takes placefrom one bank to another on a Vreal time and on Vgross basis. "his is the

.astest &ossible money trans.er system through the baning channel8-ettlement in Vreal time means payment transaction is not sub*ected to anywaiting period. "he transactions are settled as soon as they are processed. V:rosssettlement means the transaction is settled on one to one basis without bunchingwith any other transaction.

'I+ Collection o. Che?ues

%ny customer who wishes to deposit a che>ue in the bank would approach the"eller counter. %s a pre$re>uisite he is first re>uired to fill in a deposit slip

available in the bank. "he deposit slip is filled in duplicate. "he customer depositsthe original copy at the counter while keeps the carbon copy with him. "he slipcontains information regarding the %ccount Qumber, the %mount Bboth in figuresand in wordsC and the date.

0y&es o. Che?ues:

'a+ $&en Che?ue

% che>ue is called an open che>ue when it is possible to get cash over thecounter at the bank

'b+ Crossed Che?ue

-ince open che>ue is sub*ect to risk of theft, it is dangerous to issue such

che>ues.

"he risk can be avoided by issuing another type of che>ues called

Krossed che>ueI.

"he payment of such che>ues is not made over the counter at the bank.

!t is only credited to the bank account of the payee.

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% che>ue can be crossed by drawing two transverse parallel lines across

the che>ue, with or without the writing K%ccount &ayeeI or KQot

QegotiableI.

'c+ Bearer Che?ue

% che>ue which is payable to any person who presents it for payment to

the bank counter.

% bearer che>ue can be transferred by mere delivery and re>uires no

endorsement.

'd+ $rder Che?ue

%n order che>ue is payable to a particular person.

!n such a che>ue the word KbearerI may be cut out or cancelled and the

word KorderI may be written.

"he -4s at the -( branch, anpur are given a target o. *I( transactions a month. !naddition to this they are also re>uired to give ( re.errals to the &;#s B&ersonal

;inancial #anagersC. +eferrals in simple terms means, KallsI. !f these calls areconverted into business they are given incentives for the same.

%fter having collected the che>ues, the -4s send them to another department known as"PC '"nternal Process Control+8"his department takes care of the process of clearanceof che>ues. "his process has been explained belowN

6


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Process o. Clearing o. Che?ues

(anks are under an obligation to collect che>ues deposited by their customers. "heprocess of this collection is called Clearing o. che?ues8 learing involves sendingche>ues, drafts, pay orders etc. to the bank on which it is drawn through a '4%+!Q:


48/78

"hese are then separated bank wise and encoded onto a floppy which is handed over

to the respective bank next morning

"he che>ues are then debited to the respective account of the drawers

!n case a che>ue is not cleared for any reason, it is returned to the presenting bank thevery next day. "hese are also routed through the learing ue ollection

(ox

!&

'4%+!Q:


49/78

0y&es o. Clearing

8

learing #echanism

#!+learing

Qon #!+learing


50/78

'*+ M"CR Clearing

#!+ che>ues are the special che>ues issued by banks located at centres where the

local clearing of che>ues is done mechanically using document processing machinescalled reader-sorters8

"he white band at the bottom of these che>ues contains all the vital information aboutthe che>ue.

"his vital information is printed in #agnetic !nk haracters which can be recogni=ed

by the readerJsorter machine.

"he pre$printed information is the che>ue number, the city$bank$branch code, the

type of accountJinstrument and the account number.

"he che>ue amount is encoded by the payeeIs bank when it presents the che>ue in

clearing.

i8 1ocal Clearing 'through RB"+ M"CR Clearing '"+

"his is a mechani=ed clearing system introduced by +(!.

!f the instrument is drawn on a bank in #umbai and is deposited in a bank

in #umbai Bi.e. the same cityC, it is sent through local clearing.

!t takes t5o 5oring daysfor the funds to be available for withdrawal.

ii8 ational Clearing 'through RB"+ M"CR Clearing '""+

!f an instrument is drawn on a bank in #umbai and is to be paid by a bank

in 0elhi Bi.e. another metro cityC, it is sent through Qational learing.

!t normally takes a 5ee


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"o slash clearance time taken for Qational learing, -( has introduced

-peed learing for its customers.

'2+ on-M"CR Clearing 'Manual Syatem+

"his is a manual system followed in non$metro cities.

"he instruments are cleared in t5o 5oring days and amounts are manually posted

into the customerIs account.

%ll return clearings$ Bi.e. clearing for all instruments retuned unpaid by the drawee

bankC$even at the metro cities follow the same process as the Qon$#!+ learing.

'+ igh 9alue Clearing '9C+ through RB"


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4-, despite its name is completely manual.

!t takes place through +(!

4g. +eliance pays dividend to all its shareholders by sending a list of all account numbers

to +(! which in turn sends these to the respective banks to credit the customerIs account.

""+ acility o. Sa.e #e&osit 1ocers

-afe 0eposit 'ocker facility is one of the subsidiary services provided by the (ank to itscustomers for keeping their valuables in the safe deposit locker. (ank provides speciallydesigned lockers kept at specially built strong rooms. "he relationshi& bet5een theBaner and Customer is that o. lessor and lessee8 uisite condition. "he account that he maintainscould be a urrent %ccount, ;ixed 0eposit or -avings %ccount. "his is because the bankdoes not accept the rentals for the lockers in cash or through che>ues. "he rentals arecollected by the banks by debiting the amount specified from the respective account ofthe customer.

Charges and .ees

(ranch will collect the rent on annual basis, in advance.

"he rates vary with the si=e of the box, as shown belowN

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;or delayed payment of rent, penal charges are applicable as prescribed from time to

time. %lso, when a customer defaults payment of rental charges a red ta&eis put onthe respective locker Bin -(C. "his acts as a reminder for the locker custodians.Whenever, the customer approaches the bank to operatehis locker, he would first bere>uired to clear the rental charges.

$&erations and monitoring

!n -tandard hartered (ank, anpur, #r. aushal -rivastava Bhief ashierC and #r.?ikas -hah B"-# ) "eller -ervice #anagerC are the locker custodians. Qo person otherthan one of the locker custodians and the customer himself is allowed in the locker area.

4ach locker is operated through a combination of two keys. 9ne key is with customer

and the other with locker custodian.

"he operating timings for the safe deposit lockers areN

#onday to ;riday 8. a.m to 3. p.m

-aturday 8. a.m to 11./ a.m

!ncase the locker is not operated for a period of more than one year for high$risk

category customers and three years for medium risk category customers, (ank shallintimate the customer to operate the locker. !f deemed necessary, bank shall break$open such lockers following the laid down procedure. "his will be carried out even ifthe hirer is paying the rent regularly.

Anlike other banks, in -( only one person i.e. the authori=ed signatory is allowedaccess to a locker.

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;or the purpose of convenience and to be able to give personal attention, the customers in-( are segregated into different departments according to their account si=es as followsN

"he &;#s and +#s are given targets related to -avings %ccount, urrent %ccount,redit ards, !nsurance and -!& B-ystematic !nvestment &lanC. "hese products areexplained belowN

"+ Sa6ings Account

Pur&ose and #escri&tion:

"he -avings %ccount is a transaction account wherein a deposit is placed with the

bank for an unspecified period of time.

"he depositor can withdraw the money whenever re>uired through any of the

following meansN

3

ustomer

PMs 'Personal

inancial Managers+

X 3 lakhs

RMs 'Relationshi&

Managers+

3 lakh X amount Z 2 lakh

PrB 'Priority

Baning+

Z 2 lakh


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o he>ues

o "ransfers

o "hrough an %"# Bby %"# or %"#$cum$04(!" cardsC

o -tanding instructions

o +emittances

o ?!-% money transfer

o !(;" B!nter (ank ;unds "ransferC

o (y making purchases on a linked 0ebit ard at merchant establishments

"nterest Paid:

!nterest on the account is determined in accordance with the directives of the +eserve

(ank of !ndia B+(!C.

"he current rate is /.3F.

!nterest is calculated on the #inimum redit (alance between the close of the

business on the 1

th

and the last day of each calendar month.

!nterest is credited to the account every calendar >uarter.

Sa6ings Account Products o..ered by SCB

aScess&lus -avings %ccount

-uper?alue -avings %ccount

&ariwaar -avings %ccount

2$in$1 aScess&lus %ccount

aScess&lus 0ebit ard

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% summary of these accounts and the charges associated is shown on the next page. %comparison of the -avings %ccount products offered by -( and those offered by otherbanks has also been indicated with the help of various brouchers.

""+ Current Account

urrent %ccount is primarily meant for businessmen, firms, companies, publicenterprises etc. that have numerous daily banking transactions. urrent %ccounts areche>ue operated accounts meant neither for the purpose of earning interest nor for thepurpose of savings but only for convenience of business. uired to be maintained in urrent account.(ecause of the large number of transactions in the account and volatile nature of balancesmaintained, banks usually levy certain service charges for operating a urrent account.

Current Account Products o..ered by SCB :

(usiness &lus

4nhanced (usiness &lus 1

4nhanced (usiness &lus 1

:roup urrent %ccounts

o 4(& 1 :roup

o 4(& 1 :roup

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% summary of these accounts and the charges associated is shown on the next page. %comparison of the urrent %ccount products offered by -( and those offered by otherbanks has been made through brouchers.

"""+ 0erm #e&osits

!hat is a term de&osit>

"erm 0eposits are the deposits repayable to the customer on the expiry of a fixed periodof time. "he interest offered on these deposits depends on the period of these deposits."he interest rates are sub*ect to change from time to time depending on the market

conditions and the guidelines laid down by +eserve (ank of !ndia B+(!C.

Common orms o. 0erm #e&osits

i;ed #e&osit :

;ixed amount held for certain period, where the interest is paid every >uarter and theprincipal amount is paid back or renewed based on customer instruction.

Rein6estment #e&osit :

-imilar to a fixed deposit with the difference that the interest payable every >uarter iscompounded with the principal amount. "he interest is paid alongwith the principalon maturity.

Recurring #e&osit :

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% certain amount is deposited every month as a monthly installment for a certainperiod. "he total amount deposited over the period is paid with accrued interest onmaturity.

"nterest calculation

;ormula for ormal "nterest CalculationN

"nterest earned L Princi&al umber o. days Rate o. "nterest

'PR+

;ormula for "nterest Calculation 5ith Premature Brea o. #e&osit :

"his will have two entriesN'a+ Credit .or .ull interest amount '5ithout &enalty+

Credit ntry L &rincipal [ Qumber of 0ays [ +ate of !nterest

WhereD

Qumber of 0ays ;rom the date of deposit booking Bor renewal dateC till thedeposit breaks.

+ate of !nterest +ate for the original tenor, for which the deposit was booked

'b+ #ebit ntry .or Penalty

#ebit ntry L -tep 1 U -tep 2

-tep 1 &rincipal [ Qumber of 0ays [ &enalty !nterest +ate

-tep 2 &rincipal [ Qumber of 0ays [ !nterest +ate

WhereD

Qumber of 0ays ;rom the date of deposit booking Bor renewal dateC till the deposit breaks

&enalty !nterest +ate &enalty !nterest +ate is 1F Bby defaultC

!nterest +ate !nterest rate on original tenor minus the interest rate applicable for theompleted tenor

"nterest arned L Credit ntry - #ebit ntry

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"9+ Credit Cards

redit cards are plastic cards with a magnetic strip.


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Priority Baning

%s explained above &riority (anking deals with high$valued customers i.e. Z 1 lakh.Within &ersonal (anking, &riority (ankingIs role is to identify, nurture and grow theaffluent customers within -(. "he &riority (anking 6ision is to be the (u$ber )

$arket lea"er in provi"ing full financial services an" relationship $anage$ent toaffluent custo$ers regar"less of their lifestles# nee"s or require$ents anti$e#

anhow# anwhere!

"he customers in the &riority (anking department are very demanding as they are


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eSa6er

"his part of the research deals with the description, comparative analysis and promotionof a specific product of -tandard hartered, e-aver.

Product Pro&osition

"he e-aver account is a sa6ings account 5ith a lined 0erm #e&ositwhich enables thecustomer to maximi=e interest earnings. %ll surplus funds above a pre$determinedthreshold will be swept on a daily basis into a linked fixed deposit in multiples of a fixedamount i.e. KtrancheI for a pre$determined tenure. "his will essentially have an automake and auto break facility. 9n maturity of the "0, the same shall get auto renewed forthe same tenor.

"he customer will have the option of setting the threshold limit for his account Bminimum+s.23,C, the tranche$values Bminimum +s.1,C for "0 creation and the tenure of

the term deposit Bfrom 13 days $/63 daysC.g: %ssuming the customerIs balance is +s.55,3 at the end of the day and he has keptthe threshold at +s.3, and the tranche$value at +s.1, !Q+. % single "0 of+s.2, Bmultiple of tranche$valueC will be created and the residual funds of +s.5,3Bi.e. 55,3$3,$2,5,3C will remain in the savings account Bin addition to thethreshold of +s.3,C. "hough the tranche value is +s.1,, on any given day, onlyone deposit will be created in multiples of the tranche$value.

Process o. breaing o. 0#s

"he "0 will get broken when the balance in the linked -avings %ccount falls below thespecified threshold. !t will break in such a way so as to ensure that the balance in the-avings %ccount is maintained at the threshold.

Se?uence o. breaing o. 0#s

"he "0s will get broken on 1"$ 'i8e8 1ast "n irst $ut+ se?uence8 !f there is ashortfall in the -avings account, the most recently created "0 will break first. !f that isnot sufficient, then the next recent "0 would break and so on, in that order. "his willensure that the customers have minimum interest loss Bper annumC on premature breakage

of "0.

=&&er limit on the 0# 6alue

"he cumulative value of all linked "0s under the e-aver cannot exceed +s.3 lakhs. !f thebalance in the -avings %ccount is greater than +s.3 lakhs, then a "0 will be created for+s.3 lakhs only. "he balance money will continue to remain in the -avings %ccount.

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0# 0enure

"he "0 tenure will have to chosen at the time of taking up the account. "he same tenurewill be applied for all "0s booked.

Penal Rate .or Premature Breaing o. 0#

&remature breakage of "0 will attract a penalty rate of 1F.

A6erage Kuarterly Balance 'AKB+ Re?uirement

"he %@( re>uirement on the account will be met solely by the -avings %ccount balance."he sum of value of all linked deposits will not be taken into account.

$ther eatures

;irst Year ;ree &latinum 0ebit ard

Anlimited cash withdrawals at all %"#s

Tero ;uel -urcharge on all petrol pumps on 0ebit ard

;ree 9nline (anking

;ree #obile (anking

;ree 2J5 &hone (anking

#andatory 4 statements

Ani>ue +ewards &rogram

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Com&arati6e analysis o. eSa6er 5ith other Bans

*8 State Ban o. "ndia 'SB"+

ame o. the Product : Sa6ings Plus Account

eatures

o "he customer would open a -avings %ccount and set a threshold limit.

o %ny surplus funds in the account exceeding the threshold limit, for a

minimum amount o. Rs8*(,((( and in multi&les o. Rs8*,((( in any oneinstance, are transferred as "erm 0eposit and earns interest as applicable to

"erm 0eposits.

o "he customer can chose the tenure of the deposit ranging from 1 year to 3

years.

o ;lexibility to set any threshold limit of +s.1, and above.

28 #C Ban

ame o. the Product : Sa6ingsMa; Account

eatures

o 9ptional sweep out facility to transfer extra savings to a ;ixed 0eposit, at the

threshold o. Rs8I(,(((. !n the event of the balance in the -avings#ax

%ccount exceeding +s.3,, the amount in excess of +s.3, will be

swept out into a ;ixed 0eposit 5ith a minimum 6alue o. Rs82I,((( .or a *

year * day &eriod8

o ;ree unlimited transactions.

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o ;ree &ayable$at$&ar B&%&C che>uebook.

o 3F off on the 'ocker rental for the first year only.

o ;ree Q4;" facility

8 Ban o. Baroda

ame o. the Product : Su&er Sa6ings Account

eatures

o #inimum (alance N #etro $ +s.23,

Arban $ +s.13,

(- (ranches $ +s.2,

o %uto J +everse -weepN %uto transfer of funds exceeding the minimum

balance in multiples of +s.1, to a short deposit. %uto +etransfer to the

account in multiples of +s.1, from the short deposit, in case funds are

re>uired in the account to bring the customer high interest with high li>uidity.

o !mmediate credit of outstation che>ues upto +s.23,.

o !nterest payable ) @uarterly

o -afe 0eposit 'ockers on priority basis

H8 Punjab ational Ban 'PB+

ame o. the Product : PB Prudent S5ee&

eatures

o !nitial 0eposit %mount ) +s.3

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o #inimum @uarterly %verage (alance ) +s.23,

o -weep !n and 9ut N -weep !n and 9ut shall take place in the -avings %ccount

after the cut off level of +s.23, i.e. any balance above +s.23,, with a

minimum of +s.3, and thereafter in multiples of +s.3, would be swept in to

a ;ixed 0eposit for either 8 or 158 days, as opted by the customer. !f the balance

in the -avings %ccount falls below the minimum re>uired the amount would

swept out of the ;ixed 0eposit.

o "he customer would get the prevailing ;ixed 0eposit interest rates on the amount

swept in and out in the accounts provided it had remained under the ;0 portion

for a minimum period of 1 days.

o !ncidental harges N +s.13 per >uarter for not maintaining the stipulated

@uarterly %verage (alance.

I8 A;is Ban

ame o. the Product : asyAccess Sa6ings Account

eatures :

o % ) %ccessibility

o ) onvenience

o ) omfort

o 4 arnings

By &ro6iding the dual bene.it o. le;i #e&osit this &roduct hel&s to

ma;imi/e the returns on the account8 Any balance in the account 5hich is in

e;cess o. Rs82I,((( or any higher limit s&eci.ied by the customer 5ill betrans.erred automatically to a high earning .i;ed de&osit account in

multi&les o. Rs8*(,(((8

o - $ -peed

o - $ -ervice

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N8 %ota Mahindra Ban

!n otak #ahindra (ank no such specific product has been designed. "his facility is notlimited to a specific product. !nstead, the customers can avail this facility on any -avings

%ccount held with the bank.

!n any instance, when the funds held in any -avings %ccount is e>ual to more than the@uarterly %verage (alance designed for that account, the surplus funds wouldautomatically get transferred to a "erm 0eposit for a tenure of 11 days.

O8 "C"C" Ban

!!! (ank had such a product uptill 23. %fter that the bank discontinued with such aproduct.

Sur6ey conducted to no5 the A5areness o. eSa6er

With the ob*ective of generating leads for e-aver we had conducted a survey. !t wasreali=ed that instead of approaching the customers individually, identifying a group ofpotential customers was more feasible. With this ob*ective in mind a survey wasconducted. "he findings of the survey have been recorded here.

Analysis and indings o. Primary #ata

*8 "he graph below indicates the percentage of respondents who have and who have notinvested in the Sa6ings cum i;ed #e&osit


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"n6estment in Sa6ing cum -i;ed #e&osit

62F

/F

Yes

Qo

indings:

%bout 62F of the respondents have already invested in the Sa6ing cum i;ed #e&osit."herefore, these are not the potential customers for -tandard hartered (ank. %bout /Fof the respondents who have not as yet invested in any -avings cum ;ixed 0epositproduct in any bank constitute the potential customers for the bank. "hus, with the helpof this >uestionnaire we were able to identify the target group of customers.

28 "he next graph indicates the preferences of respondents for different banks withrespect to the -avings cum ;ixed 0eposit product.

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"n6estment in Sa6ing cum -i;ed #e&osit

/2.1

1.6

1.8

6.23

12.3

5.1

13.6/

.

3.

1.

13.

2.

23.

/.

/3.

-(! -( %S!- (ank of

(aroda


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"n.ormation o. Sa6ings cum -i;ed #e&osit &roduct

/F

66F

Yes

Qo

indings:

"he previous chart showed us that about /F of the respondents have not as yet investedin any -avings cum ;ixed 0eposit product.


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Mr8 Barat Ali, Assistant General Manager, State Ban o. "ndia, Eonal $..ice

Kues8 Since the &ast decade the &ri6ate bans ha6e been .lourishing8 o5 has this

a..ected the business o. ationali/ed Bans>

Ans8 "he private banks had flourished in the past decade. (ut the recent facts and figuresshow that many of the big names have been running into big losses. "he business ofQationali=ed (anks has therefore not been much affected by them.

Kues8 0he ser6ice o. Pri6ate Bans is much better8 "s this not a disad6antage to your

ban>

Ans8 "he service of Qationali=ed (anks has been improving with each day. -(! is

currently training its employees under the program K&arivartan !!I. (esides ! can give anexample to *ustify the level of service provided by private banks.-uppose there are two shopkeepers. 9ne sells the products at a reasonable and a uniformrate to all customers. "he other changes the rates offered by him >uite fre>uently. "heformer would be straightforward in his dealings. "he latter, however, would talk in ahighly polished manner.-(! has the best products and the best rates in the country.

Kues8 !ho do you thin is a major com&etitor .or SB">

Ans8 -(! is the largest bank in the country. "he logo of -(! depicts this. !ts outer circlecovers the rich class, while the inner circle attempts to cover the poorest of individuals.


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Kues8 0he ationali/ed Bans ha6e been im&ro6ing their ser6ice le6els8 Are you

losing customers on account o. this>

Ans8 "alking about service levels is one thing and implementing them is >uite another."hus, we are not much worried about this. (esides, !!! is the second largest bank in

the country.

Kues8 Jour major com&etitor8

Ans8 ! think we face the ma*or competition from -(!. "his is because like -(!, !!! isalso into #ass (anking and not lass (anking. (esides -(! has the advantage of lowcost funds which it transfers to its customers.

Kues8 Jour o&inions about the sco&e o. Retail Baning Business in %an&ur8

Ans8 9ver the years we have witnessed a ma*or transformation in the working of retailbanks in the city. "he city possesses a great potential for the banking business and is ama*or area of business for us.

Suggestions and Recommendations

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-tandard hartered (ank is a high class bank with its presence in almost every country. !tincorporates within itself personnel of high expertise with many years of worthyexperience. -uch an institution is self$sufficient in new ideas.


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Conclusion

+etail (anks are essentially the Gro5th #ri6ers of any economy. "hey are theinstitutions that support the functioning and ensure the smooth operations of various

industries and sectors of the economy. "hey bridge the gap between various parties, thusenabling a >uick and timely execution of various transactions. With a persistent increasein competition and increasing demands of the consumers, there has been an on$goingeffort to make worthy and >ualitative improvements in the banking sector. uality of products and rates of tariffs but there are several other

>ualitative aspects that he looks for when he decides to deal with a bank. ;or most of thepeople today twenty four hours in a day seems to be less. "hey are therefore expectinghighly customi=ed services from the banks.

!n the past the banks performed the routinised activities of accepting deposits andgranting loans. (ut this is no longer the case. "oday, the banks are performing a veryimportant function of Wealth #anagement. &eople hold a greater degree of reliabilitytowards their banks.

%nother important trend that has been witnessed in recent years has been a move towardsMulti-Baning. ustomers today are not restricting themselves to a single bank. "hey

are availing the facilities of several banks together. "his explains that in the course ofmaking improvements these institutions have to build their core strengths as well so as toretain their customers.

!n the past decade there was a surging boom of &rivate (anks. "he volume oftransactions of these banks was on a persistent increase and it was felt that in due coursethe Qationali=ed (anks would lose their significance and their names would fade out ofthe financial markets. uote a simple example,the importance of filling up forms correctly. We often tend to ignore learning this

5/


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considering it as a not so important work.


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B"B1"$GRAPJ

0e;t boos

+esearch #ethodology by othari +etail (anks by . ?. ammath

Mag/ines

9utlook #oney

(usiness World

Articles

(usiness -tandard

+eview of +etail (anks by (oston onsultancy :roup

e5s&a&ers

4conomic "imes

!ebsites

www.rbi.org

www.google.com

www.managementparadise.com

www.pakistanmba.*imdo.com

www.googlemaps.com

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K=S0"$A"R

QameN \\\\\\\\\\\\\\\\\\\\\\\\\\\\ %geN \\\\\\\\\\\\\\\\\\\\\\9ccupationN \\\\\\\\\\\\\\\\\\\\\\\ &hone Qo.N \\\\\\\\\\\\\\\\\

*8 !hich bans as &er you are the BS0 BA%S< in %an&ur>

-(! %S!-

-( !!!

(asket of &roducts "ariffs J harges

-ervice @uality 'ocational onvenience

:oodwill %ny 9ther \\\\\\\\\\\\\\\\\

?intage

8 !hat are the &roblems you .ace 5hile o&erating 5ith your &re.erred ban>

Suggest any im&ro6ements8

umbersome 0ocumentation ;low of !nformation

&rocessing "ime 'ag +esponse

&ersonal %ttention %ny 9ther \\\\\\\\\\\\\\\\\\\

Qone

"m&ro6ements:

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H8 $n a scale o. * 'lo5est+ 4 I 'highest+ ho5 5ould you rate your current baning

e;&erience>

1

2 3

/

I8 a6e you in6ested in any Sa6ings cum i;ed #e&osit!t is a product which diverts your surplus savings account funds over a given threshold, to a termdeposit automatically.

Yes Qo

". Jes, in 5hich Ban>

-(!


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!nvestments N (ank Qame \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ "hank You

Project Final Swati

Documents

Transcript of Project Final Swati