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CUSTOMER SATISFACTIONAT

PUNJAB NATIONAL BANK

Submitted To

School of Management StudiesBaba Ghulam Shah Badshah University, Rajouri

Submitted by Under the supervision of

Ubaid Muneer Raja 1) Sh. Shamim Aijaz Raja)30-MBA-2011 (external guide)

2) Mr. jatinder Kumar(internal guide)

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CERTIFICATE

This is to certify that project titled Customer satisfaction at PNB is prepared by Ubaid

Muneer Raja and is being Submitted for the partial fulfillment for the award of P.G

Degree of Masters in Business Administration. He has successfully completed the project

under my constant guidance and support.

Signature of the Project Guide

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DECLARATION

I do hereby declare that this piece of project report entitled A Study on Customer

Satisafaction in Punjab National Bank for partial fulfillment of the requirements for

the award of the degree of Masters in Business Administration is a record of original

work done by me under the supervision and guidance of Mr.Shamim Aizaz Raja. This

project work is my own and has neither been submitted nor published elsewhere.

Ubaid Muneer RajaMBA, 3rd Semester

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ACKNOWLEDGEMENT

A Project usually falls short of its expectations unless guided by the right person at the

right time. This Project would not have completed without the direct or indirect help and

guidance of such luminaries in Punjab National bank. They provided us with the necessary

resources and an environment conducive for healthy learning and training. They provided

us with the required amount of freedom to exercise our skill under their able guidance. At

the outset, I would like to take this opportunity to gratefully acknowledge the very kind

and patient guidance and encouragement I have received from our Project Guide Sh.

Shamim Aijaz Raja (branch manager) throughout their critical evaluation and

suggestion at every stage of the Project, this report could never have reached its present

form. I would be failing in my duties if I forget to mention the name of Mr.jatinder

kumar (Project incharge, BGSBU) for his unconditional support during the course of the

project. I would like to extend my thanks to my university Baba Ghulam Shah Badshah

University for the facilities availed to me in terms of library work. Last but not least I

would like to thank all the respondents for giving their precious time and relevant

information and experience, I required, without which the Project would have been

incomplete.

Ubaid Muneer Raja

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Table of Contents

Certificate2Declaration...3Acknowledgement...4

Chapter 1... (6-14)Introduction..7 Benefits of customer satisfaction 8Customer satisfaction surveys.... 10Customer satisfaction process.....................................................................................12Common practices followed by PNB branches..............................................................14

Chapter 2..(15-23)History of bank...16Achievements of bank ..............................................................................................................19

Values & ethics/product & services20Organizational structure.21SWOT analysis..22

Chapter 3.. ... (24-29)

Research Methodology25Statement ofproblem...25Sample size/ sampling method26Method of data collection....27Types of data collection...27

Objective/ scope / limitation of the study..28-29

Chapter 4..(30-36)

Share of different types of accounts....31Satisfactionof respondents.32Ratings of the services.....33

Motive Behind selecting PNB.34

Willing consumer to shift their accounts to other banks.36

Chapter 5...(37-40)Conclusion-.38

Suggestion/ Recommendation39References...41

Questionnaire.42

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CHAPTER 1

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The banking section will navigate through all the aspects of the Banking System in India.

It will discuss upon the matters with the birth of the banking concept in the country to

new players adding their names in the industry in coming few years.

The banker of all banks, Reserve Bank of India (RBI), the Indian Banks Association

(IBA) and top 20 banks like IDBI, HSBC, ICICI, ABN AMRO, etc. has been well

defined under three separate heads with one page dedicated to each bank.

However, in the introduction part of the entire banking cosmos, the past has been well

explained under three different heads namely:

History of Banking in India

Nationalization of Banks in India

Scheduled Commercial Banks in India

The first deals with the history part since the dawn of banking system in India.

Government took major step in the 1969 to put the banking sector into systems and it

nationalized 14 private banks in the mentioned year. This has been elaborated in

Nationalization Banks in India. The last but not the least explains about the scheduled

and unscheduled banks in India. Section 42 (6) (a) of RBI Act 1934 lays down the

condition of scheduled commercial banks.

CUSTOMER SATISFACTION

Customer satisfaction refers to the extent to which customers are happy with the products

and services provided by a business.

Customer satisfaction levels can be measured using survey techniques and questionnaires

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DEFINITIONS:

Definition 1: Customer satisfaction is equivalent to making sure that product and service

performance meets customer expectations.

Definition 2: Customer satisfaction is the perception of the customer that the outcome of

a business transaction is equal to or greater than his/her expectation.

Definition 3: Customer satisfaction occurs when acquisition of products and/or services

provides a minimum negative departure from expectations when compared with other

acquisitions.

Gaining high levels of customer satisfaction is very important to a business

because satisfaction customers are most likely to be loyal and to make repeat orders and

to use a wide range of services offered by a business

There are many factors which lead in high levels of customer satisfaction including.

Products and services which are customer focused and hence provide high levels of value

for money.

What is clear about customer satisfaction is that customers are most likely toappreciate the goods and services that they buy if they are made to feel special. This

occurs when they feel that the products and services that they buy have been specially

produced for them or for people like them.

1.1 BENEFITS OF CUSTOMER SATISFACTION

The importance of customer satisfaction and support is increasingly becoming a

vital business issue as organization realize the benefits of Customer Relationship

Management (CRM) for providing effective customer service. Professionals working

within customer-focused business or those running call centers or help desks, need to

keep informed about the latest customer satisfaction techniques for running a valuable

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customer service function. From small customer service departments to large call centers,

the importance of developing a valued relationship with customers using CRM is

essential to support customer and long-term business growth.

What Do Customers Want?

Before we begin to create tools to measure the level of satisfaction, it is important to

develop a clear understanding of what exactly the customer wants. We need to know

what our customers expect from the products and services we provide.

Customer expectations have two types

Expressed

Implied

Expressed Customer Expectations are those requirements that are written down n the

contract and agreed upon by both parties for example, product specifications and delivery

requirements. Suppliers performance against these requirements is most of the items

directly measurable.

Implied Customer Expectations are not written or spoken but are the ones the customer

would expect the supplier to meet nevertheless. For example, a customer would expect

the service representative who calls on him to be knowledgeable and competent to solve a

problem on the spot.

There are many reasons why customer expectations are likely to change overtime.

Process improvements, advent of new technology, changes in customers priorities,

improved quality of service provided by competitors are just a few examples.

The customer is always right. Suppliers job is to provide the customer what he/she

wants, when he/she wants it. Customer satisfaction is customers perception that a

supplier has met or exceeded their expectations.

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1.2 CONSTITUTES WHAT SATISFACTION?

We cannot create customer satisfaction just by meeting customers requirements

fully because these have to be met in any case. However failing short is certain to create

dissatisfaction

Major Attributes of customer satisfaction in banking industry can be summarized

as:

Product quality

Premium Outflow

Return on Investment

Services

Responsiveness and ability to resolve complaints and reject reports.

Overall communication, accessibility and attitude.

WHAT ARE THE TOOLS?

Customer expectations can be identified using various methods such as:

Periodic contract reviews

Market research Telephonic interviews

Personal visits

Warranty records

Informal discussions

Satisfaction surveys

Depending upon the customer base and available resources, we can choose a method

that is most effective in measuring the customers perceptions. The purpose of the

exercise is to identify priorities for improvements. We must develop a method or

combination of methods that helps to continually improve service.

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1.3 CUSTOMER SATISFACTION SURVEYS

Formal survey has emerged as by far the best method of periodically the customer

satisfaction. The survey are not marketing tools but an informationgaining tool.

Enough homework needs to be before embarking on the actual survey. This includes:

Defining Objectives of the Survey

Design Survey approach

Develop questionnaires and forms

Administer Survey (Email, Telephone or Post)

Method of compiling data and analyzing the findings

Format of the report to present the findings

There is no point in asking irrelevant questions on a customer satisfaction

questionnaire. The basic purpose is to find out what we are doing right or wrong. Where

is the scope for improvement, where do we stand vis--vis other suppliers. How we can

serve the customer better?

A customer satisfaction measurement survey should at least identify the following

objectives:

Importance to customers (Customers priorities)

Customers perception of suppliers performance Your performance relative to customers priorities.

Priorities for improvement

Survey forms should be easy to fill out with minimum amount of time and efforts on

customers part. They should be designed to actively encourage the customer to complete

the questions. Yet they must provide accurate data should also be sufficiently reliable for

management decision making. This can be achieved by incorporating objective type

questions where customer has to rate on scale of say 1 to 10. For repeated surveys, you

could provide the rating that was previously accorded by the customer. This works like a

reference point for the customer.

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Space should always be provided for the customers own opinions this enables

them to state any additional requirements or report any shortcomings that are not covered

by the objective questions.

Normally, we deal various personnel at various levels in the customers

organizationthe buyer, user, receiving inspector, finance and purchase person etc.

surveying a number of respondents for each customer gives a complete perspective of

customer satisfaction. It may be necessary to device a different questionnaire for each of

them.

Respondents must be provided a way to express the importance they attach to

various survey parameters. Respondents should be asked to give a weighting factor, again

on a rating scale of say, 1 to 10, for each requirement. This gives a better indication of

relative importance of each parameter towards overall customer satisfaction and makes it

easier for suppliers to prioritize their action plans by comparing the performance rating

(scores) with importance rating (weighing).

1.4 CONSUMER RESEARCH IN DIFFERENT DISCIPLINES

A considerable body of literature exists on consumption, consumer behaviour andconsumer decision making process.

Most of the consumer research focused on adopter categories, habits, attitudes and

intentions rather that on actually measuring the satisfaction level with the service.

1.4.1 CONSUMER SATISFACTION PROCESS

The paramount goal of marketing is to understand the customer and to influence buying

behaviour.

The process can be depicted as follows:-

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Need recognition- realization of the difference between the desired and the

current situation that serves as a trigger for entire process.

Search for information.

Pre purchase alternative evaluation.

Consumption(utilization of the procured option)

Post purchase alternative re-evaluation.

Divestment(disposal of the unconsumed product and its remnants)

1.4.2 WAYS FOR MAINTAINING RELATIONS WITH THE CUTOMERS

ADOPTED BY PNB

The ability of the banking industry to achieve the socio-economic objectives and in the

process bringing more and more customers into its fold will ultimately depend on the

satisfaction of the customers. We have a strong belief that a satisfied customer is the

foremost factor in developing our business.

A need was felt by us at Punjab National Bank that in order to become more customers

friendly the Bank should come out with Charter of its services for the customers.

Citizens' Charter concept was considered as a base instrument to fill this need and

accordingly this document was prepared. This document was made in consultation with

the users and highlights our Bank's commitments towards the customer satisfaction, thus

ensuring accountability and responsibility amongst its officials and staff. This Code for

customers not only explains our commitment and responsibilities along with the

redressed methods but also specifies the obligation on the part of customers for healthy

practices in Customer-Banker relationships.

This is not a legal document creating rights and obligations. The Code has been prepared

to promote fair banking practices and to give information in respect of various activities

relating to customer service.

We wish to acknowledge the initiative taken by the Ministry of Finance, Government of

India and Ministry of Administrative Reforms and Public Grievances for encouraging us

to bring out this Code.

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We maintain constant consultations with our clientele through various Seminars,

Customer Meets, etc. to evaluate improve and widen the range of service to customer.

However, all our customers are requested to keep us informed of their experiences about

the various services rendered by the Bank and feel free to comment on this Code. We

intend to bring it out in many Regional Languages in subsequent years.

COMMON PRACTICES FOLLOWED BY PNB BRANCHES

the close of business hours.

capacity) and all safe deposit locker hirers (i.e. individual hirers).

ay Time-Norms for various banking transactions.

India (RBI) from time to time.

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limit subject to certain conditions, as advised by RBI from time to time.

dealing with customer grievances/complaints.

Chapter 2

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Punjab National Bank of India, the first Indian bank started only with Indian

capital, was nationalized in July 1969 and currently the bank has become a front-line

banking institution in India with 4525 offices including 432 Extension Counters. Thecorporate office of the bank is at New Delhi. Punjab National Bank of India has set up

representative offices at Almaty (Kazakhistan), Shanghai (China) and in London and a

full-fledged Branch in Kabul (Afghanistan).

Punjab National Bank with 4497 offices and the largest nationalized bank is

serving its 3.5 crore Customers with the following wide variety of banking services:

Corporate banking

Personal banking

Industrial finance

Agricultural finance

Financing of trade

International banking

Punjab National Bank has been ranked 38th amongst top 500 companies by The

Economic Times. Punjab National Bank has earned 9th position among top 50 trusted

brands in India.

Punjab National Bank India maintains relationship with more than 200 leading

international banks worldwide. PNB India has Rupee Drawing Arrangements with fifteen

exchange companies in UAE and one in Singapore.

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2.1HISTORY OF THE BANK

Punjab National Bank (PNB) was registered on May 19, 1894 under the Indian

Companies Act with its office in Anarkali Bazaar Lahore. The Bank is the second largest

government-owned commercial bank in India with about 4,500 branches across 764

cities. It serves over 37 million customers. The bank has been ranked 248th biggest bank

in the world by Bankers Almanac, London. The bank's total assets for financial year 2007

were about US$60 billion. PNB has a banking subsidiary in the UK, as well as branches

in Hong Kong and Kabul, and representative offices in Almaty, Dubai, Oslo, and

Shanghai.

1895: PNB commenced its operations in Lahore. PNB has the distinction of being the

first Indian bank to have been started solely with Indian capital that has survived to the

present. (The first entirely Indian bank, the Ouch Commercial Bank, was established

in 1881 in Faizabad, but failed in 1958.) PNB's founders included several leaders of

the Swadeshi movement such as Dyal Singh Majithia and Lala HarKishen Lal, Lala

[1] Lalchand, Shri Kali Prosanna Roy, Shri E.C. Jessawala, Shri Prabhu Dayal, Bakshi

Jaishi Ram, and Lala Dholan Dass. Lala Lajpat Rai was actively associated with the

management of the Bank in its early years.

1904: PNB established branches in Karachi and Peshawar.

1940: PNB absorbed Bhagwan Dass Bank, a scheduled bank located in Delhi circle.

1947: Partition of India and Pakistan at Independence. PNB lost its premises in

Lahore, but continued to operate in Pakistan.

1951: PNB acquired the 39 branches of Bharat Bank (est. 1942); Bharat Bank became

Bharat Nidhi Ltd.

1961: PNB acquired Universal Bank of India.

1963: The Government of Burma nationalized PNB's branch Rango(Yangon).

September 1965: After the Indo-Pak war the government of Pakistan seized all the

offices in Pakistan of Indian banks, including PNB's head office, which may have

moved to Karachi. PNB also had one or more branches in East Pakistan (Bangladesh).

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1960s: PNB amalgamated Indo Commercial Bank (est. 1933) in a rescue.

1969: The Government of India (GOI) nationalized PNB and 13 other major

commercial banks,on July 19, 1969

1976 or 1978: PNB opened a branch in London.

1986 The Reserve Bank of India required PNB to transfer its London branch to State

Bank of India after the branch was involved in a fraud scandal. 1986: PNB acquired Hindustan Commercial Bank (est. 1943) in a rescue. The

acquisition added Hindustan's 142 branches to PNB's network.

1993: PNB acquired New Bank of India, which the GOI had nationalized in 1980.

1998: PNB set up a representative office in Almaty, Kazakhstan.

2003: PNB took over Nedungadi Bank, the oldest private sector bank in Kerala. Rao

Bahadur T.M. Appu Nedungadi, author of Kundalatha, one of the earliest novels in

Malayalam, had established the bank in 1899. It was incorporated in 1913, and in 1965

had acquired selected assets and deposits of the Coimbatore National Bank. At the

time of the merger with PNB, Nedungadi Bank's shares had zero value, with the result

that its shareholders received no payment for their shares. PNB also opened a

representative office in London.

2004: PNB established a branch in Kabul, Afghanistan. PNB also opened a

representative office in Shanghai. PNB established an alliance with Everest Bank in

Nepal that permits migrants to transfer funds easily between India and Everest Bank's

12 branches in Nepal.

2005: PNB opened a representative office in Dubai.

2007: PNB established PNBIL - Punjab National Bank (International) - in the UK,

with two offices, one in London, and one in South Hall. Since then it has opened a

third branch in Leicester, and is planning a fourth in Birmingham. Gatin Gupta

became Chairmen of Punjab National Bank.

2008: PNB opened a branch in Hong Kong. 2009: PNB opened a representative office

in Oslo, Norway.

2.2 ACHIEVEMENTS

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Punjab National Bank announced its Q1FY2010 results on 29 July 2009, delivering

62% y-o-y growth in net profits to Rs832 crore (Rs512cr), substantially ahead of

expectations on account of large treasury gains, apart from healthy operating

performance.

While the banks deposit growth was reasonably robust at 4.4% sequentially and

26.5% y-o-y, unlike the peers its growth in advances also remained strong at 38% y-o-y.

In spite of being at the forefront of PLR cuts, the bank posted a healthy growth in Net

Interest Income (NII) of 29% y-o-y.

Other Income surged 113% y-o-y, driven by strong treasury gains of Rs355 crore

during the quarter in line with industry trends, even as Fee income was also robust at

45% y-o-y, on the back of strong balance sheet growth.

Operating expenses were higher than expected on account of Rs150 crore of

provisions for imminent wage hikes.

Gross and Net NPA ratios remained stable sequentially at 1.8% and 0.2%, with the

bank not adopting the guidelines of treating floating provisions as part of tier 2 capital

instead of adjusting against NPAs on express permission from the RBI.

2.3 VISION AND MISSION

Vision

To evolve and position the bank as a world class, progressive, cost effective and

customer friendly institution providing comprehensive financial and related services.

Integrating frontiers of technology and serving various segments of society especially

weaker section.

Committed to excellence in serving the public and also excelling in corporate values.

Mission

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To provide excellent professional services and improve its position as a leader in

financial and related services.

Build and maintain a team of motivated workforce with high work ethos.

2.4 VALUES AND ETHICS

Bonding and Integrity

Ethical conduct

Periodic disclosure

Confidentiality and fair dealing

Compliance with rules and regulations

2.5 PRODUCTS AND SERVICES

Savings Fund Account - Total Freedom Salary Account, PNB Prudent Sweep,

PNB Vidyarthi SF Account, PNB Mitra SF.

Account Current Account -PNB Vaibhav, PNB Gaurav, PNB Smart Roamer

Fixed Deposit Schemes - Spectrum Fixed Deposit Scheme, Anupam Account,

Mahabachat Schemes, Multi Benefit Deposit

Scheme Credit Schemes -Flexible Housing Loan, Car Finance, Personal Loan,

Credit Cards

2.6 AWARDS AND DISTINCTIONS

Ranked among top 50 companies by the leading financial daily, Economic Times.

Ranked as 323rd biggest bank in the world by Bankers Almanac (January 2006),London.

Earned 9th place among India's Most Trusted top 50 service brands in Economic

Times- A.C Nielson Survey.

Included in the top 1000 banks in the world according to The Banker, London.

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Golden Peacock Award for Excellence in Corporate Governance - 2005 by

Institute of Directors.

FICCI's Rural Development Award for Excellence in Rural Development 2005

2.7 ORGANIZATIONAL STRUCTURE

HEAD OFFICE 7, BHIKAJI CAMAPLACE, NEWDELHI-66

ZONAL OFFICES (25)

REGIONAL OFFICES (48)

BRANCHES (4525)

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2.8 SWOT ANALYSIS

Lets analyze SWOT in order to know as to where the company stands.

Wide network

Large number of customers

Fast adaptability to technology

Brand image

Casual behaviour

Corruption and red tapism

Slow decision making due to large hierarchy

High gross NPA

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OPPORTUNITIES

Home to home banking services

Diversification towards other fields

Globalization

Stiff competition from SBI and other private players.

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Chapter 3

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already have significant data to conduct descriptive studies using internal information.

Yet many firms that have such data files do not mine them regularly for the decision-

making insight they might provide.

This descriptive study is popular in business research because of its versatility

across disciplines. In for-profit, not-for-profit and government organizations, descriptive

investigations have a broad appeal to the administrator and policy analyst for planning,

monitoring, and evaluating. In this context, how questions address issues such as

quantity, cost, efficiency, effectiveness, and adequacy.

Descriptive studies may or may not have the potential for drawing powerful inferences.

A descriptive study, however, does not explain why an event has occurred or why the

variables interact the way they do.

3.4 SAMPLE METHOD

Convenience sampling method is used for the survey of this project. It is a non-

probability sample. This is the least reliable design but normally the cheapest and easiest

to conduct .In this method Researcher have the freedom to choose whomever they find,

thus the name convenience. Example includes informal pools of friends and neighbours

or people responding to a newspapers invitation for readers to state their position on

some public issue.

3.5 SAMPLE SIZE

Sample size denotes the number of elements selected for the study. For the

present study, 100 respondents were selected at random. All the 100 respondents were the

customers of different branches of PNB.

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3.6 SAMPLING METHOD

A sample is a representative part of the population. In sampling technique,

information is collected only from a representative part of the universe and the

conclusions are drawn on that basis for the entire universe.

A convenience sampling technique was used to collect data from the respondents.

3.7 METHOD OF DATA COLLECTION

To know the response, the researcher used questionnaire method. It has been

designed as a primary research instrument. Questionnaires were distributed to

respondents and they were asked to answer the questions given in the questionnaire.

The questionnaires were used as an instrumentation technique, because it is an

important method of data collection. The success of the questionnaire method in

collecting the information depends largely on proper drafting. So in the present study

questions were arranged and interconnected logically. The structured questionnaire will

reduce both interviewers and interpreters bias.

Further, coding and analysis was done for each questions response to reach into

findings, suggestions and finally to the conclusion about the topic.

3.8 TYPES OF DATA

Every decision poses unique needs for information, and relevant strategies can be

developed based on the information gathered through research. Research is the systematic

objective and exhaustive search for and study of facts relevant to the problem

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Research design means the framework of study that leads to the collection and

analysis of data. It is a conceptual structure with in which research is conducted. It

facilitates smooth sailing of various research operations to make the research as effective

as possible.

PRIMARY DATA

Primary data are those collected by the investigator himself for the first time and thus

they are original in character, they are collected for a particular purpose.

A well-structured questionnaire was personally administrated to the selected sample to

collect the primary data.

SECONDARY DATA

Secondary data are those, which have already been collected by some other persons for

their purpose and published. Secondary data are usually in the shape of finished products.

Two types of secondary data were collected for the preparation of the project work:

Internal Data was generated from companys brochures, manuals and annual reports

External Data, on the other hand, was generated from magazines, research books,

intranet and internet (websites).

3.9 OBJECTIVES OF THE STUDY

To have an insight into the attitudes and behaviors of customers.

To find out the differences among perceived service and expected service.

To produce an executive service report to upgrade service characteristics.

To understand consumers preferences.

To access the degree of satisfaction of the consumers

3.10 SCOPE OF THE STUDY

This study is limited to the consumers with in New Delhi city. The study will be able to

reveal the preferences, needs, satisfaction of the customers regarding the banking

services, It also help banks to know whether the existing products or services the are

offering are really satisfying the customers needs

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3.11 LIMITATIONS OF THE STUDY

Although the study was carried out with extreme enthusiasm and careful planning there

are several limitations, which handicapped the research viz,

1. Time Constraints:

The time stipulated for the project to be completed is less and thus there are chances that

some information might have been left out, however due care is taken to include all the

relevant information needed.

2. Sample size:

Due to time constraints the sample size was relatively small and would definitely have

been more representative if I had collected information from more respondents.

3. Accuracy:It is difficult to know if all the respondents gave accurate information; some respondents

tend to give misleading information.

4. It was difficult to find respondents as they were busy in their schedule, and collection

of data was very difficult. Therefore, the study had to be carried out based on the

availability of respondents.

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Chapter 4

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TABLE 4.1

SHARE OF DIFFERENT TYPES OF ACCOUNTS

SL. No. NATURE OFACCOUNTS

NUMBER OFRESPONDENTS

PERCENTAGE OFRESPONDENTS

1. Saving A/Cs 78 78%

2. Current A/Cs 9 9%

3. Fixed Deposits 4 4%

4. Loans 3 3%

5. Others 6 6%

Total 100 100%

Analysis: Above table shows that 78% respondents have Saving A/Cs, and 9% have

Current A/Cs and rest of the respondents have 13% share of other A/Cs in total (whichincludes fixed deposits, loans, and other products)

Interpretation: This means most of the respondents are having Saving A/Cs which

means the bank deposits are enriching as Saving A/Cs share is most.

Graph - 6.1Classification based on nature of A/Cs

Saving A/Cs Current A/Cs Fixed Deposits Loans Others

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TABLE 4.2

SATISFACTION OF RESPONDENTS WITH SERVICES OFFERED BY PNB

BRANCH

SL. No. RESPONSE NUMBER OF

RESPONDENTS

PERCENTAGE OF

RESPONDENTS

1. Satisfied 89 89%

2. Not satisfied 11 11%

TOTAL 100 100 %

Analysis: From the above table it could be inferred that 89% of the consumers are

satisfied with the service and quality of products of their bank. Only 11% of consumers

are not satisfied.

Interpretation: Most of the respondents are satisfied with the service offered by PNB.

Presently the bank offers varieties of services and the customers are getting a good rate of

return from their deposits. Customers are getting good service from the bank.

0

50

100 89

11

No. ofrespondents

Graph - 6.2Classification based on satisfaction level of respondents

Satisfied Not satisfied

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TABLE 4.3

RATINGS OF THE SERVICES OFFERED BY THE RESPONDENTS LIFE

INSURANCE COMPANY

SL. No. RATINGSNUMBER OF

RESPONDENTS

PERCENTAGE OF

RESPONDENTS

1. EXCELLENT 05 5%

2. VERY GOOD 09 9%

3. GOOD 76 76%

4. AVERAGE 06 6%

5. POOR 04 4%

TOTAL 100 100 %

Analysis: From this table it could be inferred that 76% of the consumers have rated

service offered as good, 9% of them have rated them as very good, and 05% of them

have rated as excellent and average while only 4% have rated as poor

.

Interpretation: Service offered by the bank is improving day by day. Returns consumers

are getting are also attractive. Majority of the customers rates good, very good and

5 9

76

6 4

Graph - 6.3Classification based on Rating of the service offered by PNB

branches

EXCELLENT VERY GOOD GOOD AVERAGE POOR

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excellent because of the customer service offered by the bank. Banks are providing a

good service to the customers due to increased competition in the market. This may be

the reason for more satisfaction

TABLE 4.4

TABLE SHOWING MOTIVE BEHINDTHE SELECTING PNB

SL.NO ATTRIBUTE SCORE RANK

1. Brand name 56 1

2. Customer service 30 2

3. Interest 12 3

4. Others 2 4

Analysis: This table show the strengths and weaknesses of the brand, and what are the

important criteria or factors on which decision-making is done. From this table we can

infer that consumers give more importance for Brand name, secondly they prefer

satisfaction, and then returns on investment.

0

10

20

30

40

50

60 56

30

12

2

No. ofrespondents

Motives

Graph - 6.4Motive behind the Selecting of PNB

Brand name Customer service Interest Others

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Interpretation: This purely shows that people are now looking forward for better

customer service in addition to the brand name in which they are investing and the

returns they are getting.

TABLE 4.5

CONSUMERS WILLINGNESS TO RECOMMEND THEIR LIFE INSURANCE

COMPANY TO OTHERS

SL. No. RESPONSES NUMBER OF

RESPONDENTS

PERCENTAGE OF

RESPONDENTS

1. Recommended 92 92%

2. Not recommended 08 8%

TOTAL 100 100 %

Analysis: From this table it can be noted that the majority of consumers (92%) would

like to recommend their bank services to others and only 8% of consumers would not like

to recommend it to others.

Interpretation: Since the competition has increased in the field of benefits and service of

banking. So customers are getting good service, so that they are willing to recommend

their bank services to others.

Graph - 6.5Classification based on the willingness to recommend PNB

branch services to other banks

recommended Not recommended

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TABLE 4.6

CONSUMERS WILLINGNESS TO SHIFT THEIR A/Cs TO OTHER BANKS

SL. No. RESPONSES NUMBER OF

RESPONDENTS

PERCENTAGE OF

RESPONDENTS

1. Shift 8 8%

2. Doesnt shift 92 92%

TOTAL 100 100 %

Analysis: From this table it can be noted that the majority of consumers (92%) doesnt

like to shift their A/Cs to other banks.

Interpretation: The reason can be increasing customer satisfaction and quality services

offered by the bank.

Graph - 6.6Classification based on the willingness of respondents to shift

their A/Cs to other banks

Shift Doesn't shift

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Chapter 5

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CONCLUSION:

The project entitled A STUDY TO UNDERSTAND THE CUSTOMER

SATISFACTION AT PNB has helped me in studying satisfaction about services and

products offered to consumers.

Since the opening up of the banking sector, private banks are in the fray each one

trying to cover more market share than the other.

Yet, PNB is far behind SBI. PNB must also be alert what with Private Banks

(ICICI, HDFC) breathing down its neck.

I am sure the bank will find my findings relevant and I sincerely hope it uses my

suggestions enlisted, which I hope will take them miles ahead of competition.

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SUGGESTIONS & RECOMMENDATIONS

With regard to banking products and services, consumers respond at different rates,

depending on the consumers characteristics. Hence PNB should try to bring their new

product and services to the attention of potential early adopters.

Due to the intense competition in the financial market, PNB should adopt better

strategies to attract more customers.

Return on investment company reputation and premium outflow are most

preferred attributes that are expected by the respondents. Hence greater focus

should be given to these attributes.

PNB should adopt effective promotional strategies to increase the awareness level

among the consumers.

PNB should ask for their consumer feedback to know whether the consumers are

really satisfied or dissatisfied with the service and product of the bank. If they are

dissatisfied, then the reasons for dissatisfaction should be found out and should be

corrected in future.

The PNB brand name has earned a lot of goodwill and enjoys high brand equity.

As there is intense competition, PNB should work hard to maintain its position

and offer better service and products to consumers.

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The bank should try to increase the Brand image through performance and service

then, only the customers will be satisfied.

Majority of the people find banking important in their life, so PNB should employ

the strategies to convert the want in to need which will enrich their business.

In short, I would like to say that the very act of the concerned management at

PNB in giving me the job of critically examining consumer satisfaction towards financial

products and services of the company is a step in their continual mission of making all

round improvements as a means of progress.

I am sure the bank has a very bright future to look forward to and will be a

trailblazer in its own right.

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REFERENCES

There was an immense need and flow of the information. While conducting the analysis

as well as while writing the report, which was gathered through various sources

mentioned below: -

Internet

http://pnbindia.comlast accessed on 13/07/2012

http://moneymarket.comlast accessed on 13/07/2012

Other Printed Literature such as

PNB Product Manual Guide

Annual General Reports of PNB (20102011)

PNB Performance Highlights 2011 & 2012

Books

Customer satisfaction measurement simplified

- Jeffrey Gitomer

Why satisfied customers defect Harvard Business Review nov-dec 1995 Customer Satisfaction measurement & management : using the voice of

customer

- Naumann Giel

http://pnbindia.com/http://pnbindia.com/http://moneymarket.com/http://moneymarket.com/http://moneymarket.com/http://pnbindia.com/

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QUESTIONNAIRE

Name:

Phone off: Phone Res.

Occupation

Office Address

Monthly Income: 500010000 1000020000

And above

Type of Banks you are holding saving account with-

1. Nationalized / co-operative

2. Private

3. Multinational

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Which of these factors influenced your decision to open an

account with your current bank?

1. Facilities provided by the Bank

2. Recommendation by friend / relatives

3. Advertisement

4. Brand

5. ATMs

6. Branch timing

How important are the banking facilities for you?

Services Not Important Average Important Very Important

A.T.M

Phone Banking

Locker facilities

Cash / Cheque Pick up

Insurance

Facilities with

Your account

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Banking Hours

Discount in restaurants

& Shopping malls

Free Drafts /Pay orders

365 days Branch

Banking

Would you be interested in opening a saving account with

the Punjab National Bank?

1. Yes

2. No

Bank which can be accessed at over 1450 ATMs all over thecountry for free*

1. Yes

2. No