a study of awareness evolving needs of banking services by management student in lucknow

7/27/2019 A Study of Awareness Evolving Needs of Banking Services by MANAGEMENT Student in Lucknow

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A Research Project ReportOn

Survey on Scope of Financian to thePharmaceuticals and Drugs Distribution at

Gorakhpur

Submitted in Partial Fulfillment of the Requirement of the Award of theDegree

MASTER OF BUSINESS ADMINISTRATION(2012-2013)

Supervisor: Submitted By:

Prof K.M Upadhyay Jaya Gupta

Faculty of Management 4th

SemesterRoll No.

0603370038

RAJ KUMAR GOEL INSTITUTE OFTECHNOLOGY

5- km. Stone, Delhi- Meerut Road, Ghaziabad (U.P. 201003)


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Table of Contents

Page No.s

1. Introduction to banking 1-36

1.1 Definition of banking business 1-2

1.2 History of banking in India 2-4

1.3 Nationalization of banks in India 5 -6

1.4 Categories of bank 6-7

1.5 Types of banks 7-101.6 Services provided by banks in India 11-19

1.7 Different types of Accounts 19-36

2. Research objectives 37

3. Research methodology 38-42

3.1 Research design 39-41

3.2 Sampling method and sample size 41

3.3 Data collection tool 42

4. Data analysis and interpretations 43-66

5. Critical analysis of research 67

6. Limitations 68

7. Suggestions 69

8. Conclusion 70

7. Bibliography 71

8. Annexure

Questionnaire 72-76


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Definition of Banking Business

A bank is a business center that deals in financial services. A bank is a place where

depositors money is safe-locked and begets more money on interest. In other words it is

a secure place to dispose off earnings. Banking service in general includes receiving

deposit money, lending money and processing transactions. India has a number of both

government undertaken banks as well as private ones. www.bestindiansites.com brings

the page consisting of the websites of some of the famous Indian banks.

Banking as defined in the Section 5 (b) of the Banking Regulations Act, 1949 is the

business of "Accepting deposits of money from the public for the purpose of lending or investment". These deposits are repayable on demand or otherwise, and withdraw able by

a cheque, draft, and order or otherwise.

The deposits - Banking Company & Non Banking Finance Company or any other

company - can accept demand deposits ( Saving / Current) which can be withdrawn by a

cheque.

Section 6 of Banking Regulations Act, 1949 elaborately specifies the other forms of business which a banking company may carry in addition to banking as defined in section

5.

These Include In A Nutshell

Safe Deposit Lockers

Issuing Letters of Credit & Letters of Guarantee

Sales and Purchase of Foreign Exchange

Custodial Services


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Second phase of nationalization Indian Banking Sector Reform was carried out in 1980

with seven more banks. This step brought 80% of the banking segment in India under

Government ownership.

The following are the steps taken by the Government of India to Regulate Banking

Institutions in the Country:

1949: Enactment of Banking Regulation Act.

1955: Nationalization of State Bank of India.

1959: Nationalization of SBI subsidiaries.

1961: Insurance cover extended to deposits. 1969: Nationalization of 14 major banks.

1971: Creation of credit guarantee corporation.

1975: Creation of regional rural banks.

1980: Nationalization of seven banks with deposits over 200 cores.

After the nationalization of banks, the branches of the public sector bank India rose to

approximately 800% in deposits and advances took a huge jump by 11,000%.

Banking in the sunshine of Government ownership gave the public implicit faith and

immense confidence about the sustainability of these institutions.

Phase III

This phase has introduced many more products and facilities in the banking sector in its

reforms measure. In 1991, under the chairmanship of M Narasimham, a committee was

set up by his name which worked for the liberalization of banking practices.

The country is flooded with foreign banks and their ATM stations. Efforts are being put

to give a satisfactory service to customers. Phone banking and net banking is introduced.

The entire system became more convenient and swift. Time is given more importance

than money.


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Nationalization of Banks in India

The nationalization of banks in India took place in 1969 by Mrs. India Gandhi the then

prime minister. It nationalized 14 banks then. These banks were mostly owned by

businessmen and even managed by them.

Central Bank of India

Bank of Maharashtra

Dena Bank

Punjab National Bank

Syndicate Bank

Canara Bank

Indian Bank

Indian Overseas Bank

Bank of Baroda

Union Bank Allahabad Bank

United Bank of India

UCO Bank

Bank of India

Before the steps of nationalization of Indian banks, only State Bank of India (SBI) was

nationalized. It took place in July 1955 under the SBI Act of 1955. Nationalization of

Seven State Banks of India (formed subsidiary) took place on 19th July, 1960.

The State Bank of India is India's largest commercial bank and is ranked one of the top

five banks worldwide. It serves 90 million customers through a network of 9,000

branches and it offers -- either directly or through subsidiaries -- a wide range of banking

services.


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The second phase of nationalization of Indian banks took place in the year 1980. Seven

more banks were nationalized with deposits over 200 cores. Till this year, approximately

80% of the banking segment in India were under Government ownership.

After the nationalization of banks in India, the branches of the public sector banks rose to

approximately 800% in deposits and advances took a huge jump by 11,000%.

1955: Nationalization of State Bank of India.

1959: Nationalization of SBI subsidiaries.

1969: Nationalization of 14 major banks.

1980 : Nationalization of seven banks with deposits over 200 cores.

In 1969, 14 major banks were nationalized and in 1980, 6 major private sector banks

were taken over by the government. Today, commercial banking system in India is

divided into following categories.

Categories Of Banks

Banks in India can be categorized into non-scheduled banks and scheduled banks.

Scheduled banks constitute of commercial banks and co-operative banks. There are about

67,000 branches of Scheduled banks spread across India. During the first phase of

financial reforms, there was a nationalization of 14 major banks in 1969. This crucial step

led to a shift from Class banking to Mass banking. Since then the growth of the banking

industry in India has been a continuous process.

As far as the present scenario is concerned the banking industry is in a transition phase.

The Public Sector Banks (PSBs), which are the foundation of the Indian Banking system

account for more than 78 per cent of total banking industry assets. Unfortunately they are

burdened with excessive Non Performing assets (NPAs), massive manpower and lack of

modern technology.

On the other hand the Private Sector Banks in India are witnessing immense progress.

They are leaders in Internet banking, mobile banking, phone banking, ATMs. On the


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other hand the Public Sector Banks are still facing the problem of unhappy employees.

There has been a decrease of 20 percent in the employee strength of the private sector in

the wake of the Voluntary Retirement Schemes (VRS). As far as foreign banks are

concerned they are likely to succeed in India.

Indusland Bank was the first private bank to be set up in India. IDBI, ING Vyasa Bank,

SBI Commercial and International Bank Ltd, Dhanalakshmi Bank Ltd, Karur Vysya

Bank Ltd, Bank of Rajasthan Ltd etc are some Private Sector Banks. Banks from the

Public Sector include Punjab National bank, Vijaya Bank, UCO Bank, Oriental Bank,

Allahabad Bank, Andhra Bank etc.

ANZ Grindlays Bank, ABN-AMRO Bank, American Express Bank Ltd, Citibank etc are

some foreign banks operating in India.

Types of Bank

Central Bank

The Reserve Bank of India is the central Bank that is fully owned by the Government. It

is governed by a central board (headed by a Governor) appointed by the Central

Government. It issues guidelines for the functioning of all banks operating within the

country.

Public Sector Banks

a. State Bank of India and its associate banks called the State Bank Group

b. 20 nationalized banks

c. Regional rural banks mainly sponsored by public sector banks

Private Sector Banksa. Old generation private banks

b. New generation private banks

c. Foreign banks operating in India

d. Scheduled co-operative banks

e. Non-scheduled banks
http://www.rbi.org.in/home.aspxhttp://www.rbi.org.in/home.aspxhttp://indiaonline.in/Utilities/Banks/banks.asphttp://www.rbi.org.in/home.aspxhttp://indiaonline.in/Utilities/Banks/banks.asp


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Bharat Overseas Bank Ltd.Bank of BarodaBank of IndiaBank of MaharashtraCanara Bank Central Bank of IndiaCalyon Bank Citibank N.A.Cho Hung Bank Chinatrust Commercial Bank Ltd.Centurion Bank of Punjab LimitedCity Union Bank Ltd.Coastal Local Area Bank Ltd.Corporation Bank Catholic Syrian Bank Ltd.Deutsche Bank AGDevelopment Credit Bank Ltd.Dena Bank IndusInd Bank LimitedICICI Bank IDBI Bank LimitedIndian Bank Indian Overseas Bank Industrial Development Bank of IndiaING Vysya Bank J P Morgan Chase Bank, National AssociationKrung Thai Bank Public Company LimitedKotak Mahindra Bank LimitedKarnataka Bank Karur Vysya Bank Limited.Lord Krishna Bank Ltd.Mashreqbank pscMizuho Corporate Bank Ltd.Oman International Bank S A O GOriental Bank of CommercePunjab & Sind Bank Punjab National Bank Reserve Bank of IndiaSociete GeneraleSonali Bank Standard CharteredBank State Bank of Mauritius Ltd.
http://www.bharatoverseasbank.com/http://www.bankofbaroda.com/http://www.bankofindia.com/http://www.maharashtrabank.com/http://www.canbankindia.com/http://www.centralbankofindia.co.in/http://www.ca-indosuez.com/http://www.citibank.co.in/http://www.chohungbank.co.kr/http://www.chinatrust.com.tw/http://www.centurionbop.co.in/http://www.cityunionbank.com/http://www.coastalareabank.com/http://www.corpbank.com/http://www.csb.co.in/http://www.db.com/http://www.dcbl.com/http://www.denabank.com/http://www.indusind.com/http://www.icicibank.com/http://www.idbibank.com/http://www.indian-bank.com/http://www.iob.com/http://www.idbi.com/http://www.ingvysyabank.com/http://www.jpmorgan.com/http://www.ktb.co.th/http://www.kotak.com/http://www.karnatakabank.com/http://www.kvb.co.in/http://www.lordkrishnabank.com/http://www.mashreqbank.com/http://www.mizuhocbk.co.jp/http://www.oiboman.com/http://www.obcindia.com/http://www.psbindia.com/http://www.pnbindia.com/http://www.rbi.org.in/http://www.sgcib.com/http://www.sonalibank.com.bd/http://www.standardchartered.com/http://www.sbmonline.com/http://www.bharatoverseasbank.com/http://www.bankofbaroda.com/http://www.bankofindia.com/http://www.maharashtrabank.com/http://www.canbankindia.com/http://www.centralbankofindia.co.in/http://www.ca-indosuez.com/http://www.citibank.co.in/http://www.chohungbank.co.kr/http://www.chinatrust.com.tw/http://www.centurionbop.co.in/http://www.cityunionbank.com/http://www.coastalareabank.com/http://www.corpbank.com/http://www.csb.co.in/http://www.db.com/http://www.dcbl.com/http://www.denabank.com/http://www.indusind.com/http://www.icicibank.com/http://www.idbibank.com/http://www.indian-bank.com/http://www.iob.com/http://www.idbi.com/http://www.ingvysyabank.com/http://www.jpmorgan.com/http://www.ktb.co.th/http://www.kotak.com/http://www.karnatakabank.com/http://www.kvb.co.in/http://www.lordkrishnabank.com/http://www.mashreqbank.com/http://www.mizuhocbk.co.jp/http://www.oiboman.com/http://www.obcindia.com/http://www.psbindia.com/http://www.pnbindia.com/http://www.rbi.org.in/http://www.sgcib.com/http://www.sonalibank.com.bd/http://www.standardchartered.com/http://www.sbmonline.com/


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SBI Commercial and International Bank Ltd.State Bank of Bikaner and Jaipur State Bank of HyderabadState Bank of IndiaState Bank of IndoreState Bank of MysoreState Bank of PatialaState Bank of SaurashtraState Bank ofTravancoreSyndicate Bank The Bank of Nova ScotiaThe Bank of Tokyo-Mitsubishi, Ltd.The Development Bank of Singapore Ltd. (DBS Bank Ltd.)The Hongkong & Shanghai Banking Corporation Ltd.TamilnadMercantile Bank Ltd.The Bank of RajasthanLimitedThe Dhanalakshmi Bank Limited.The Federal Bank Ltd.The HDFC Bank Ltd.The Jammu &Kashmir Bank Ltd.The Nainital Bank Ltd.The Sangli Bank Ltd.The South Indian BankLtd.The Ratnakar Bank Ltd.The Lakshmi Vilas Bank LtdUCO Bank UTI Bank Ltd.Union Bank of IndiaUnited Bank Of IndiaVijaya Bank Yes Bank

Services Provided By Banks in India

Banking in India is so convenient and hassle free that one (individual, groups or whatever

the case may be) can easily process transactions as and when required. The most common

services offered by banks in India are as follow:
http://www.sbici.com/http://www.sbbjbank.com/http://www.sbhyd.com/http://www.sbi.co.in/http://www.indorebank.org/http://www.mysorebank.com/http://www.sbp.co.in/http://www.sbsbank.com/http://www.statebankoftravancore.com/http://www.syndicatebank.com/http://www.scotiabank.com/http://www.bk.mufg.jp/http://www.dbs.com/http://www.hsbc.co.in/http://www.tamilnadmercantilebank.org/http://www.bankofrajasthan.com/http://www.dhanbank.com/http://www.federal-bank.com/http://www.hdfcbank.com/http://www.jammuandkashmirbank.com/http://www.nainitalbank.co.in/http://www.sangli-india.com/http://www.southindianbank.com/http://www.theratnakarbank.com/http://www.lvbank.com/http://www.ucobank.com/http://www.utibank.com/http://www.unionbankofindia.com/http://www.unitedbankofindia.com/http://www.vijayabank.com/http://www.yesbank.in/http://www.sbici.com/http://www.sbbjbank.com/http://www.sbhyd.com/http://www.sbi.co.in/http://www.indorebank.org/http://www.mysorebank.com/http://www.sbp.co.in/http://www.sbsbank.com/http://www.statebankoftravancore.com/http://www.syndicatebank.com/http://www.scotiabank.com/http://www.bk.mufg.jp/http://www.dbs.com/http://www.hsbc.co.in/http://www.tamilnadmercantilebank.org/http://www.bankofrajasthan.com/http://www.dhanbank.com/http://www.federal-bank.com/http://www.hdfcbank.com/http://www.jammuandkashmirbank.com/http://www.nainitalbank.co.in/http://www.sangli-india.com/http://www.southindianbank.com/http://www.theratnakarbank.com/http://www.lvbank.com/http://www.ucobank.com/http://www.utibank.com/http://www.unionbankofindia.com/http://www.unitedbankofindia.com/http://www.vijayabank.com/http://www.yesbank.in/


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Wholesale Banking Services:

The Bank's target market is primarily large, blue-chip manufacturing companies in the

Indian corporate sector and to a lesser extent, emerging mid-sized corporate. For these

corporate, the Bank provides a wide range of commercial and transactional banking

services, including working capital finance, trade services, transactional services, cash

management, etc. The bank is also a leading provider of structured solutions which

combine cash management services with vendor and distributor finance for facilitating

superior supply chain management for its corporate customers. Based on its superior

product delivery / service levels and strong customer orientation, the Bank has made

significant inroads into the banking consortia of a number of leading Indian corporateincluding multinationals, companies from the domestic business houses and prime Public

Sector companies. It is recognized as a leading provider of cash management and

transactional banking solutions to corporate customers, mutual funds, stock exchange

members and banks.

Retail Banking Services:

The objective of the Retail Bank is to provide its target market customers a full range of

financial products and banking services, giving the customer a one-stop window for all

his/her banking requirements. The products are backed by world-class service and

delivered to the customers through the growing branch network, as well as through

alternative delivery channels like ATMs, Phone Banking, Net Banking and Mobile

Banking.

HDFC Bank was the first bank in India to launch an International Debit Card in

association with VISA (VISA Electron) and issues the Master card Maestro debit card as

well. The debit card allows the user to directly debit his account at the point of purchase

at a merchant establishment, in India and overseas. The Bank launched its credit card in

association with VISA in November 2001. The Bank is also one of the leading players in


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the "merchant acquiring" business with over 25,000 Point-of-Sale (POS) terminals for

debit / credit cards acceptance at merchant establishments.

Treasury Operations:

Within this business, the bank has three main product areas - Foreign Exchange and

Derivatives, Local Currency Money Market & Debt Securities, and Equities. To comply

with statutory reserve requirements, the bank is required to hold 25% of its deposits in

government securities. The Treasury business is responsible for managing the returns and

market risk on this investment portfolio.

Bank accounts: It is the most common service of the banking sector. An

individual can open a bank account which can be either savings, current or term

deposits.

Loans: You can approach all banks for different kinds of loans. It can be a home

loan, car loan, and personal loan, loan against shares and educational loans.

Money Transfer: Banks can transfer money from one corner of the globe to the

other by issuing demand drafts, money orders or cheques. Credit and debit cards: Most banks offer credit cards to their customers who can

be used to purchase products and services, or borrow money.

Lockers: Most banks have safe deposit lockers which can be used by the

customers for storing valuables, like important documents or jeweler.

Banking Service For NRIs:

Non Resident Indians or NRIs can open accounts in almost all Indian banks. The three

types of accounts that NRIs can open are:


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o Non-Resident (Ordinary) Account - NRO A/c

o Non-Resident (External) Rupee Account - NRE A/c

o Non-Resident (Foreign Currency) Account - FCNR A/c

Different Types of Cards Offered By Indian Banks

There are mainly two types of cards offered by the banks they are

1 Debit Card

2 Credit Cards

Debit Card: - The word debit means subtract and, as the name suggest, your debit card

will subtract money from your account each time you use it.

A debit card has several of the advantages of a credit card in terms of convenience and

reducing the use of cash and checks. Furthermore, you can use it as an ATM card as well,

to withdraw cash from your account and carry out other ATM transactio

Furthermore, you don't have to worry about making regular payments or paying interest

rates and penalties if you forget to make a payment. In that sense, a debit card is more

convenient than a credit card.

Credit Card: - A credit card allows you to borrow money when making purchases. The

money isn't directly debited from your bank account at the time of purchase; instead, you

are sent a bill every month for the sum total of your purchases.

You can choose to either pay your bill in full or in part. If you choose the latter, you will

have to pay interest on the balance.

The ability to obtain credit is both a blessing and a curse. It allows you to fund big

purchases when you are short of money, giving you the option to pay them off over a

period of time. However, you must be disciplined and not spend beyond your means.


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If you plan to borrow using your credit card, you also need to understand the terms and,

in particular, the way interest charges are computed.

Silver Credit Card : - The best features you could ask for in a credit card.

Combined with all the services offered by a world-class bank.

Get all with the Silver Credit Card.

Features of silver credit card

1. All-purpose credit card

2. Earn while you spend

3. Add on cards

4. Zero liability on lost card 5. Widely accepted

Value plus Credit Card: - its power packed with a host of unmatched features that

provides your family with true Value and savings. Like the name suggests, the Value plus

Credit Card brings you added value unlike any other card. It is a Guaranteed Cash Back

card which enables you to earn up to 5% Cash Back on your spends.

Features of Value Plus Credit Card:-

1. Value Plus Cash back- Anytime Anywhere

2. Worldwide acceptance

3. Cash Advance

4. Revolving credit facility

5. Interest Free Credit Period

6. Balance Transfer Option

7. Lost Card Liability

Health plus Credit Card: - Imagine a Credit Card that takes care of your financial

health as well as your family's health and fitness. This is not just a card but a

guarantee of a healthy and secure future.


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Introducing the Health plus International Credit Card - India's first health Care Credit

Card with a free inbuilt Cashless Mediclaim. This card comes to you from HDFC

Bank in association with the United India Insurance Company (UIIC), one of the

leading insurance service providers. This card is designed keeping your good health

in mind. It brings you unique features like the Cashless Mediclaim facility and

discounts at leading hospitals which make it an unmatched product.

Features of Health plus Credit Card

1. Cashless Mediclaim

2. Extra protection for your family - Add-on Float Cover

3. Cash Advance

4. Revolving credit facility

5. Interest Free Credit Period

6. Add-on Cards

7. Zero liability on lost card

8. Third Party Administrator (TPA)

Gold Credit Card: - It's overloaded with travel benefits - discounts, cash back offers, air miles redemption. Get a Gold Card and get introduced to a whole new world of

privileges.

Features of gold credit card:-

1. Up to 5% cash back on air/ rail ticketing*

2. Greater reward points

3. Rewards points redemption


5. Revolving credit facility #


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6. Free Add-on card

Women Gold Card: - Presenting a Gold credit card exclusively for the new age woman.

Another proud offering Credit Cards replete with discounts, cash back programmers,

rewards and more!

Features of Women Gold Card

1. 5% cash back on your Monthly household purchases*

2. 5% cash back on mobile bill payments through smart pay

3. Accelerated rewards programmed

4. Wide choice of redemption


Platinum Plus Card: - India's only platinum Plus Credit Card offering exclusive travel

and preferential benefits. Platinum plus Credit Card is the best Platinum offering in the

market. It is the recognition of those who have "arrived in life".

Features of Platinum Plus Credit Card:-

1. Exclusive travel benefits

2. Discounts at over 28,000 hotels and resorts worldwide

3. 5% Cash back on Airline Bookings through HRG-SITA

4. Worldwide Concierge Services

5. Accelerated Rewards Program - earn as you spend #

6. 0% Fuel surcharge

7. Revolving Credit Facility #


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4. Petrol Surcharge Waiver

5. Revolving Credit Facility #

6. Protection Through Insurance

Business Credit Card: - It makes Perfect Business Sense - Better Business with

International Business card.

Welcome to the world of exclusive privileges and world class services. International

Business Card is designed to add value to your business, while keeping in mind the

conveniences and lifestyle benefits for business owners and the self employed

community specifically.

Features of Business Credit Card

1. Higher Credit Limits

2. Spend Based Interest Rates

3. Petrol Surcharge Waiver

Easy Shop International Card: - Daily Limits: Rs. 15000 at ATMs for Withdrawal and

Rs. 25000 at merchant establishments for shopping Access your bank account at over

8,00,000 Visa/Maestro/Cirrus ATMs in India and abroad. 0 % petrol surcharge at select

BPCL Petrol pumps*: As a Debit Card holder, any surcharge levied on your Card at

select BPCL petrol pumps would be reversed in the subsequent month. Shop at more than

3, 50,000 outlets in India and 13 million worldwide. The amount is debited directly to

your account

Kisan Card:- Agriculture is the main occupation of the people of India. Nearly 2/3rd of

our country's population is directly or indirectly engaged in agriculture. It contributes to

21% of our GDP. Keeping this in mind, we have designed the Kisan Gold Card toenvisage a convenient and hassle-free loan to the farmer for meeting his production and

investment requirements. Banks have been giving these loans, but with our technology

edge we conceived a real plastic for the farmer for giving him the convenience to bank

anywhere, anytime and not being restricted to a 10am-2pm banking culture. The card,


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average quarterly balance of just Rs. 25,000/- you get a host of premium services from

HDFC Bank absolutely free*.

No Frills Account

N an effort to make banking simpler and more accessible for our customers, we haveintroduced the 'No Frills' Savings Account, which offers you all the basic banking

facilities. You can even avail of services like Net Banking, Mobile banking free of cost.

Kids Advantage Account

In an effort to make banking simpler and more accessible for our customers, we have

introduced the 'No Frills' Savings Account, which offers you all the basic banking

facilities. You can even avail of services like Net Banking, Mobile banking free of cost.

A Pension Saving Account is a Zero Balance Account that accumulates your pension

over the years. It comes with a free International Debit Card and facilities like Phone and

Net Banking. You can access this Account from any branch within the HDFC network

and also request for transfer to another bank.

Family Saving Account

The Family Savings Group links together upto four individual HDFC Bank accounts

(same family) under a single group. Take advantage of the group Average Quarterly

Balance (AQB) and operate your individual accounts without worrying about minimum

balance.

Kisan No Frills Account

Free Balance Enquiry / Cheque Deposit / Mini Statement transactions on HDFC Bank

ATMs

Kisan Club Saving Account

Free International Debit Card for 1 st Year


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Current Account

Money transactions are at the heart of most business relations. And HDFC bank support

and service can make all the differences in closing a deal, maintaining goodwill with

business associates.

Features and benefits

a) Pre-printed personalized cheque book:

All current account holders get a pre-printed personalized cheque book with the names of

the account holders printed on the leaves for additional security. For regular current

account holders, first cheque books come free after which a nominal fee of Rs.2 per leaf

is charged for subsequent cheque books.

b) Free ATM card:

Individual & sole proprietor current account holders are entitled to a free ATM card,

which gives instant, anywhere round the clock access to the account. ATM card can be

used for a host of banking transactions such as cash withdrawals and mini statements.

3. 24 hours phone banking:

Current account holders can enjoy the facility of free 24 hour phone banking. The

telephone identification number enables conducting the full.

4. Wide network/intercity banking:

It gives the facility to withdraw cash and make deposits into the account from any branch.

5. Net banking

6. Sweep in facility

Easily transfer of funds from FD to current account.

Types Of Current Account

1. Regular current account

2. Premium current account

3. Trade current account

4. Plus current account


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Plus Current Account

Now, with an HDFC Bank Current Account, experience the freedom of multi-city

banking! You can have the power of multi-location access to your account from any of

our 744 branches in 339 cities. Not only that, you can do most of your banking

transactions from the comfort of your office or home without stepping out.

We make it our business to help you with your business by offering you a Current

Account with all the benefits you need to stay ahead of your competition.

At HDFC Bank, we understand that running a business requires time and money, also

that your business needs are constantly evolving. That's where we come in. We provideyou with a choice of Current Account options to exclusively suit your business -

whatever the size or scope.

Open an HDFC Bank Current Account & control your business operations centrally.

Trade Current Account

In today's changing business requirements, you need to transfer funds across cities, and

time is of the essence. Bank Trade Current Account gives you the power of inter-city banking with a single account.

From special cheques that get treated at par with local ones in any city where we have a

branch, to free account to account funds transfer between Bank accounts, to free inter-

city clearing of up to 50 lakhs per month, our priority services have become the

benchmark for banking efficiency. Trade Current Account requires you to maintain an

average quarterly balance of Rs. 40,000.

Read on to know the powerful features of the Bank Trade Current Account.

Premium Current Account

Your business needs a partner who can manage your finances while you concentrate on

growing your business.


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So, during peak seasons, you get the benefit of higher transaction limits due to the higher

average balances maintained in your account.

Whats more, during lean seasons, you need not bother about maintaining huge balances

to enjoy high transaction limits, which you anyway may not need.

Flexi Current Account requires you to maintain a minimum Average Monthly Balance

(AMB) of just Rs. 75,000.

Demat Account

HDFC bank offers a secure, convenient alternative to hold the securities in their physicalform. Their depository services enable the customer to convert the securities to electronic

format. When the customer chooses this option, he/she retain all the benefits of

ownership, while eliminating the hassles caused by events such as loss of certificates,

postal delays and counterfeiting.

Banks Demat Account Advantages

1. Free home service to open an account.

2. Personalized instructions book for transferring securities to reduce forgery.

3. No account opening charges.

4. No asset holding charges.

5. Nominal annual maintenance charges.

6. Competitive fees for transaction.

7. Queries on the net.

Bank offers the customers simple and reinvestment Fixed Deposits, which can be opened

with the minimum investment of Rs.10, 000. The customer can make additions to their

deposits in multiples of Rs.50,000 each. Reinvestment deposits must be invested for a

minimum period of 6 months.


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Features and benefits:

1. Cluster deposits:

Fixed deposits are held in units of Re.1, each of which is treated as a separate deposit.

This allows the customer to encash part of the deposit amount (in multiples of Re.1)

before the maturity date, while the remaining units continue to earn him interest at the

contract rate. The customer can withdraw the exact amount he needs to minimize the

interest loss. There is no limit on the number of units, or the frequency at which the

customer can withdraw units during the tenure of the deposit.

2. Reinvestment deposit:

In a reinvestment deposit, the interest accrued to the customers deposit at the end of each

quarter is invested along with the principal. Effectively, the customer receives compound

interest. End of the quarter, the interest and the principal are both rolled over, and the

interest is calculated on the total sum. However, the interest accrued during each financial

year is subject to tax regulations.

3. Automatic rollovers:

As a fixed deposit holder, the customer can avail of the facility for automatic rollovers

and payments (for both the principal and interest). The customer can select this option in

the account opening document (AOD).

The options available are:

- Rollover only principal

- Rollover principal & interest accrued in reinvestment deposit. It will rollover the

deposit for the same tenure at the interest rate applicable on the maturity. This rate

will not depend on the original contract rate.

On or before the maturity date, the customer can make the following changes in the

rollover instructions of the deposit.

- Change in tenure


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- Change in maturity instruction

- Change in payment instructions

- Change in principal(only reduced amount )

- Change rollover of principal to rollover principal + interest, or vice versa.

Types Of Fixed Deposit

1. Super Saver Account

2. Sweep-in Account

Super Saver Account

It is a combination of FD and a saving on C.A. you can have overdraft facility of up to75% of your FD funds without breaking FD or losing interest on it.


- Avail an overdraft on your FD account maximum of 75% of principal FD amount.

So neither do you break FD nor do you lose interest on it.

- Choose to roll own principal only on principal plus interest earned. Interest earned

will be for the same tenure at an interest rate applicable on the maturity date.

- Avail of C.I. on the total amount when you reinvest the interest i. e. rollover of

principal till at the end of the tenure.

- Higher returns S.S.A. allows your liquidity against your fixed deposit without

breaking it.

- Senior citizen FD: the bank is offering special rates to senior citizen/retired

personnel on short term deposit as well. The rate hike of 25% to 50% is extremely

competitive.

Fees

For overdraft limit up to Rs.2 lakh int. charges are only 2% over the deposit rate only for

period you use.


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If the overdraft is greater than 2 lakh, the int. charged is the banks PLR or FD rate plus

2% whichever is higher.

Sweep In Account

This is a F.D. linked to a savings account. The event the customers savings account

is short of funds, the F.D. is broken and the required funds are transferred into the

savings account to take came of the short fall. Facilities are same as savings account.

The advantages

- Fixed deposits are maintained in units of Re. 1:

If the customer requires funds in his savings account, the exact and needed is

swept into the savings account, thus minimizing the interest loss. Further, the

amount swept in earns the tenure it has completed without any penalty. The rest

of the deposit continues to earn the original interest maturity.

- The customer has the choice of rolling over the principal only or principal plus

interest earned ( i.e. re invest the interest automatic rollover will be for the same

tenure, at an interest rate applicable on the maturity date.)

- The customer avail of compound interest on the total amount when he reinvest

the interest, i.e. rollover of principal interest, at the end of the tenure (month or

quarter)

- The customer can minimize the interest loss as sweep in is maintained in the

units of Re. 1. Further, the amount sweep interest for the tenure that it has

completed without any penalty. The rest of the deposit continues to earn the

interest rate till maturity.

- Linking of new fixed deposits and savings account:

Every time the customer open a new deposit for Rs.5000 or above, he can request

it to be linked to the sweep in fact note that fixed deposited are broken for sweep


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Lockers are the place where one can keep their jewellery, share certificates and important

documents which are very important to avoid risk of damage. And bank provides its

customers safe and secure place to guard their valuables from theft, fire or any

unforeseen circumstances.


1. Convenient sizes:

Lockers are available in various sizes. Customers can choose locker of their choice,

depending on their requirements.

2. Complete privacy:

The spacious design and special mobile screens of lockers room provide complete

privacy. Besides, there is only one locker per row, at a time.

3. Waterproof, fine proof and secure:

The lockers are roused in a special area of the branch which is secured by strong room

doors and temper proof locks. Besides, the walls of the locker room are specially treated

to protect them from water seepage and fire.

4. Convenient hours of operations:

Customers can operate the lockers during the branch timings and even on Sundays at

select branches.

Charges

Rs.500 per annum.

In case the customer is having a salary account of minimum of rupees

20000/- with the bank, the charges will be Rs. 250/- per annum only.

Direct Banking Channels


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1. ATM

2. International debit card

3. Phone banking

4. Mobile banking

5. Net banking

6. International credit card

ATM

An ATM card is quite different from a credit card. Using the ATM card one can access

his account and carry out most of his banking transactions round the clock. ATM cardalso prevents overextending by permitting to withdraw cash only as long as there is

money in the account. Moreover using ATM card does not attract any charges.

Features and Benefits

(A) Cash Withdrawals/Fast Cash

The customer can withdraw up to Rs.10000 per day on this ATM card. Moreover, if the

customer needs to withdraw cash in hurry, he can use our fast cash option, which allows

him to withdraw money in multiples of Rs.500.

(b) Deposits

ATMs enable the customers to deposit cash or cheques into his account at any time. All

the customer has to do is to select the account in which he wants to make the deposit, fill

the deposit slip, put the cash or cheque into the envelope provided at the ATM, and insert

it into slot provided.

(C) Balance Inquiry

The customer can use his ATM card to check balance in his account.


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(D) Mini Statement

The customer can request a mini statement for a quick overview of the last 10

transactions in his account. The mini statement will be printed on the transactions slip.

(E) Funds Transfer

ATMs make transferring funds between two accounts easy. All the customer has to do is

select the account froe which he wants to transfer funds, then indicate the amount of

money he wants to transfer, and then the account in which he wants to make the transfer.

Both the accounts must be linked to his ATM card and customer Id. A maximum of 10

accounts can be linked for this facility.

(F) Cheque Book Request

The customer can log a request for a cheque book or account statement at the ATM and it

will be delivered to him.

(G) Product Information

If the customer wants to get information about any of our product offerings, all he has to

do is select a banking product, and the information will be displayed on the ATM screen.

International Debit Card

An ATM card that can be used at merchant locations.


1. Electronic Usage

The card can be used at merchant locations that have an electronic date capture machine

or an electronic point of sale machine

2. International Validity


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The debit card can be used both in India & abroad to make purchases at merchant

locations & withdraw local currency at ATMs. For foreign currency transactions done,

the customer is sent a separate statement giving details of the FCY transactions done

using the particular card.

3. Cash Withdrawal

Debit card can also be used as an ATM card to withdraw cash up to the limit of rupees

15000/ per day.

Charges

Annual fee @ 100 per card. Add on card is given with a waiver of the first years annual

fees.For cash withdrawal at SBI ATM locations, Rs.20 per transaction & Rs.50 per transaction

at other ATM locations will be charged.

Phone Banking

Phone banking facility is a free service currently offered at Mumbai, Delhi, Calcutta,

Chennai, Chandigarh, Patiala, Pune and Ahmedabad.


1. Eligible customers can apply for the telephone identification number which along with

the customer identification number enables access to phone banking facility.

2. Customers can call at the phone banking service and can get the information needed

like account statements for specified period are generated at and dispatched from CPU

within a day receiving the request. Instructions for financial transactions like funds

transfer, demand drafts and term deposits are taken from the customer by the phone

bankers. Besides this any type of query can be taken by the phone bankers.


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Mobile Banking

This service comes to the customer free of cost at HDFC bank. All the customer need to

have is an HDFC bank savings/current/fixed deposit account and a mobile connection.

Mobile banking works through a series of text messages (SMS).

- Once the customer has activated this service, all he needs to do is to type in the

specified code for the service he wants to avail.

- Then he will receive a response in the form of a text massage on his mobile phone

screen within a few seconds.

For example, if the customer wants to check his balance, key-in the code HDFCBAL and

send to the designated number which varies from operator to operator.

Using Mobile Banking Facility The Customer Can

- Check his balance.

- Check on his last three transactions.

- Request for a statement.

- Request fro a cheque book.

- Enquire on a cheque status.

- Instruct stop cheque payment.

- View fixed deposit details.

Internet Banking

Net banking is a convenient way of accessing bank account from anywhere and at any

time. When the customer register for net banking, he is issued a password, which he can

use with his customer ID number to do all the banking transactions, round the clock.

Features And Benefits

A) Account Balance Inquiry:


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Whether savings or current account, the balance can be found out including information

regarding unlearned funds, ledger balance overdraft limits, sweep in amounts.

B) Account Statement:

The customer can view all the transactions on his account for either the current period or

for a specific period determined by the account holder. The customer can also request his

statement via mail.

C) FD Inquiry:

The customer can access details of his account such as principal balance, term of deposit,

rate of interest, maturity date, maturity amount and instructions for payment.

D) New FD Request:

The customer can open a new fixed deposit on net. All the customer has to do is to give

the details of his account from which he wants to transfer the funds, the amount and

terms for the FD, the branch and the relevant maturity in instructions.

E) TDS Inquiry:

Information on the tax deducted source for all the deposits for the current or previous

financial year can be accessed.

F) Funds Transfer:

Funds can be transferred between the accounts, even if they are at different

branches/cities. The funds can also be transferred to any person having account with

HDFC bank anytime, anywhere using third party funds transfer option.

G) Demand Draft:

The customer can issue a DD or bankers cheque from his account. All the account holder

gas to do is to select the account to be debited and to give the details of the amount,


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location and beneficiary. The bank will even have the demand couriered to the customer

at his mailing address.

H) Stop Payment Request:

Online request to stop payment on a cheque or series of cheques by just entering the

cheque number and the reason for stopping the payment.

I) Cheque Status Inquiry:

The customer can view the status of a specific cheque issued on any of his accounts.

J) Cheque Book Request: Online request for a new cheque book can be made.

K) Demand On The Net:

If the customer also holds a depository account with the bank, he can also access the

depository accounts online. Through a Demat on the net, the account holder can also see

his holdings as on the close of the last business day. The customer can view his

transactions for last 7 days. The status of the shares submitted for demat in the last month

can be checked.

Excel Banking

Standard Chartered has introduced a new package called Excel Banking, which

according to the bank is the smart edge to your banking. Through excel

banking a customer can make most out of his money.

Trade (International and Domestic) and Factoring Services

A wide range of solutions tailored to meet customer's requirements for both domestic and

international businesses is offered. HSBC is also one of the leading banks involved in the

bullion business through its offices in Ahmedabad, Bangalore, Chennai, Hyderabad,

Kolkata, New Delhi and is supported by the Group's global expertise in the precious


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metal business. HSBC is the leading provider of trade services in India and its trade

centers are ISO 9002 certified. Institutional banking

Working closely with Group offices in India and overseas,

trade services, payments and cash management, treasury and capital markets, custody andclearing, and correspondent and electronic banking activities are offered to banks,

financial institutions, securities houses, insurance companies, asset management

companies and other non-banking companies, non-government and development

organizations.

OBJECTIVES

To find out the banking services being offered to Indian citizens by banks.

To analyze the awareness of banking facilities among 1 st and 2 nd year female

engineering students about the services and facilities given by banks in India.

To find out the family income level and then find out the awareness about banking services among the female students.

To gain knowledge on banking services

To analyze the people awareness about the various accounts

To know how frequently people use the banking services


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RESEARCH METHODOLOGY

While deciding about the method of data collection to be used for the study, the

researcher should keep in mind two types of data viz. primary and secondary.

Primary Data

Primary data are those which are collected afresh and for the first time, and thus happen

to be original in character. We collect primary data either through observation or through

direct communication with respondents in one form or through personal interviews. This,

in other words, means that there are several methods of collecting primary data,

particularly in surveys and descriptive researches. Important ones are:

i. Observation method

ii. Interview method

iii. Questionnaire method

iv. Schedules method

v. Other methods which include

a) Warranty cards


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Researcher must be very careful in using secondary data. He/She must make a minute

scrutiny because it is just possible that the secondary data may be unsuitable or may be

inadequate in the context of the problem which the researcher wants to study.

4.1Research Design

A research design is the arrangement of conditions for collection and analysis of data in

a manner that aims to combine relevance to the research purpose with economy in

procedure. A research design serves as a bridge between what has been established (the

research objectives) and how to accomplish these objectives. In fact, the research design

is the conceptual structure within which research is conducted; it constitutes the blueprint

for the collection, measurement and analysis of data. More explicitly, the design

decisions happen to be in respect of:

i) What is the study about?

ii) Why is the study being made?

iii) Where will the study be carried out?

iv) What type of data is required?

v) Where can the required data be found?

vi) What period of time will the study include?

vii)What will be the sample design?

viii) What technique of data collection will be used?

ix) How will the data be analyzed?

x) In what style will the report be prepared?

The function of research design is to provide for the collection of relevant evidence with

minimal expenditure of effort, time and money. But how all these can be achieveddepends mainly on the research purpose. Research purposes may be grouped into four

categories, viz. (i) Exploration, (ii) Description, (iii) Diagnosis, and (iv) Experimentation.

To achieve the aims and objectives of this study, a broad based study was done. The

research was a descriptive research based on the survey approach or we can say the

research design of this study is descriptive type as the objectives are to identify and


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analyze the customer profile, their preferences, satisfaction level and impact of sales

promotion activities.

Exploratory Research

These are also known as formulating research studies. We have been using this

research in our work because main purpose is that of formulating a problem for more

precise investigation of developing the working hypothesis from an operational point

of view.

Descriptive Research

We have applied this research design method in our research because in this research

we are concerned with describing the characteristics of particular individuals, groups.

The overall design of this research is very rigid. Probability or random sampling is

done in this sampling design.

Summary of Research Design

Types of Research: DescriptiveData Sources: Primary: Questionnaire

Secondary: Internet, books, Journals &

Magazines.Research Instruments: Questionnaire

Sampling Design:

Sample Size

Sample Region

Tools of Data Collection

80

Female Engineering Students.

Questionnaire


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Data Collection Method Sample Survey

Sampling Method And Sampling Size :

Sampling may be defined as the selection of some part of an aggregate or totality on the

basis of which a judgment or inference about the aggregate or totality is made. In other

words, it is the process of obtaining information about an entire population by examining

only a part of it. The researcher must decide the way of selecting a sample. Samples can be either probability samples or non-probability samples.

Probability samples are those based on simple random sampling, systematic sampling,

stratified sampling, cluster/area sampling where as non-probability samples are those

based on convenience sampling, judgement sampling, and quota sampling techniques.

Data Collection Tool :

The tool for data collection was Questionnaire

This study was based on survey research. Survey Research is a systematic collection of

information directly from respondents. A questionnaire consists of a set of questions

presented to respondents for their answer. Because of its flexibility, the questionnaire is by far the most common instrument used to collect primary data. Questionnaires need to

be carefully developed, tested, and debugged before they are administered on a large

scale. In preparing a questionnaire, the professional marketing researcher carefully

chooses the questions and their form, wording, and sequence. The form of the question

asked can influence the response. Marketing researchers distinguish between closed-end


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cardCorporatecredit card

25 30% 55 70% 80

Businesscredit card

56 70% 24 30% 80

Easy shopinternationalcard

12 15% 68 85% 80

Kisan card 48 60% 32 40% 80

Source:-Questionnaire Survey

The cards about which the awareness among the respondent (based on the no of respondent having knowledge) was relatively high are

Silver credit card Business credit card Kisan card Visa signature credit card Gold credit card

Name of the card No of respondentSilver credit card 70Business credit card 56

Kisan card 48Visa signature credit card 44Gold credit card 36

0

10

20

30

40

50

60

70

silver creditcard

businesscredit card

kisan card visa signaturecredit card

gold creditcard

no of respondents


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Figure 1

Table 1 represents that out of respondents 80, 70 respondents aware about Silver creditcard, 56 respondents aware about Business credit card,48 respondents aware about

Kisan card ,44 respondents are aware about Visa signature credit card,36 respondentsaware about Gold Credit card.

Reason of High Awareness :

1. Old banks/ new banks :The awareness of old banks types of cards is high among respondents.

2. Indian banks / foreign banks :The awareness of Indian banks types of cards among the respondents is high.

3. Recent introduction :The cards which are recent introduced are less awareness among the respondents rather than the earlier introduced cards.

(b)The card about which the awareness among the respondents was relatively lowis:-

Table 1

Name of the card No. of FrequencyEasy shop international card 68Platinum plus card 64Womans gold card 60Health plus credit card 58Value plus credit card 55

(Source data appendix 1)


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0

10

20

30

40

50

60

70

easy shopinternational

shop

platinumplus card

woman'sgold card

health pluscredit card

value pluscredit card

Series1

Series2

Series3

figure 2

Table 2 represents that out of 80 respondents, 68 respondents low aware about Easyshop international card ,64 respondents low aware about Platinum plus credit card,60respondents low aware about womens gold card,58 respondents low aware aboutHealth plus credit card, 55 respondents low aware about value plus credit card.

Reason for Low Awareness;

Low promotional strategy: The awareness is low about these cards due to low promotional strategy by banks.

People in India are not a frequent user of cards

In India not every shop have the facility of cardsQ 2. Frequency distribution of respondent according to their knowledge aboutthe preference of cards?

Name of

cards

Most

preferred

% Preferred % Least

preferred

% Total

Debitcard

65 81% 15 19% 0 0 80

Creditcrad

75 94% 5 6% 0 0 80

Prepaidcard

5 6% 15 19% 60 75% 80


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Source :- Questionnaire Survey

Interpretation

Mean score :- the response categories were given weights , most preferred was given

a weight of 3, preferred was given a weight of 2 and least preferred was given aweight of 1. The scores of preference for the three cards were calculated by multiplythe weight with respective frequencies thus

Mean score =w* frequency

Mean score of debit card = (65*3) + (15*2) + (0*1) __________________ =2.48

80Mean score of credit card = (75*3) + (5*2) + (0*1)

___________________=2.9480

Mean score of prepaid card= (5*3) + (15*2) + (60*1) _____________________=1.31

80

Name of the card Mean scoreDebit card 2.48Credit card 2.94Prepaid card 1.31


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0 0.5 1 1.5 2 2.5 3 3.5

debit card

credit card

prepaid card

Figure 3

Analysis:-

On the bases of the mean score we come to know that the most preferred card id thecredit card whose mean score is 2.94 then is the debit card whites score is 2.48and theleast preferred is the prepaid card whose mean score is 1.31 .

Q3 frequency distribution of the respondent about the difference b/w debit & creditcard

Difference b/wcredit & debit card

True % Total

Credit card are for borrowing money

70 88% 80

Debit cards are usedfor drawing moneyfrom your bank account

45 56% 80

Credit card users haveto pay interest

55 69% 80

Debit card users donot pay interest

35 44% 80


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Source: - Questionnaire

0%10%20%30%40%50%60%70%80%

90%100%

Credit card are for borrowing money

Debit cards areused for drawingmoney from your

bank account

Credit card usershave to pay interest

Debit card users donot pay interest

Series1

Figure 4

Table represents that out of 80 respondents, 4 difference between debit card and creditcard, 70respondents aware of the difference 1, 45 respondents high aware of thedifference 2, 55 respondents aware of the difference 3,35 respondents aware of thedifference 4

Q4 frequency distribution of respondent about types of bank a/c they know anduse?

Bank accounts Knowonly

% Know& use

% Dontknow

% Total

Regular savinga/c

17 21% 51 64% 12 15% 80

Saving plus a/c 49 61% 27 34% 4 5% 80Saving max a/c 20 25% 0 0% 60 27% 80

No frills a/c 10 13% 0 0% 70 88% 80Institutionalsaving a/c

10 13% 0 0% 70 88% 80

Salary a/c 60 75% 5 6% 15 15% 80Kids advantagea/c

29 36% 0 0% 51 64% 80

Pension savinga/c

54 68% 0 0% 26 33% 80


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Family savinga/c

43 54% 0 0% 37 46% 80

Kisan no frillsa/c

7 9% 0 0% 73 91% 80

Kisan club

saving a/c

15 19% 0 0% 65 81% 80

Plus current a/c 21 26% 0 0% 59 74% 80Trade currenta/c

69 86% 0 0% 11 14% 80

Premiumcurrent a/c

12 15% 0 0% 68 85% 80

Regular currenta/c

75 94% 0 0% 5 6% 80

Reimbursementcurrent a/c

0 0 0 0% 80 100% 80

Flexi current

a/c

12 15% 0 0% 68 85% 80

Regular fixeddeposit a/c

65 81% 4 5% 11 14% 80

Five year taxsaving fixeddeposit a/c

48 60% 14 18% 18 23% 80

Super saver facility a/c

12 15% 0 0% 68 85% 80

Demat a/c 68 85% 5 6% 7 9% 80

Source: - Questionnaire

4. (A). Frequency distribution of respondents according to their knowledge abouttypes of accounts given in table (N=80)

Regular current account Trade current account Demat account Regular fixed deposit account Salary account Pension saving account

Saving plus account Five year tax saving fixed deposit account Family saving account Kids advantage account

Name of the account No of respondent know onlyRegular 75


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Trade current account 69Demat account 68Regular fixed deposit account 65Salary account 60Pension saving account 54

Saving plus account 49Five year tax saving fixed deposit account 48Family saving account 43Kids advantage account 29

No of respondent know only

0 20 40 60 80

Regular

Regular fixed depositaccount

Saving plus account

Kids advantage account

No of respondent knowonly

Figure 5 shows 75 respondents know about regular saving a/c, 69 respondents knowabout trade current a/c, 68 respondents know about Demat a/c, 65 respondents knowabout regular fixed deposit a/c, 60 salary a/c.54 respondents know about pensiona/c.49 respondent know about saving plus a/c.48 respondent know about five year taxsaving fixed deposit a/c. 43 respondent know about kids advantage a/c.

(b). Frequency distribution of respondents according to their knowledge and use $know only about types of accounts given in table (N=80)

Regular saving a/c Saving plus a/c Five year tax saving fixed deposit a/c Demat a/c


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Salary a/c

Name of the account s No of respondentRegular saving a/c 51

Saving plus a/c 27Five year tax saving fixed deposit a/c 19Demat a/c 5Salary a/c 5

No of respondent

Regular saving a/c

Saving plus a/c

Five year tax saving fixeddeposit a/c

Demat a/c

Salary a/c

Figure 6

Figure 6 shows 51 respondents know and use of regular saving a/c, 27 respondentsknow and use of Saving plus a/c , 19 respondents know and use of five year tax savingdeposit a/c a/c, 5 respondents know and use of Demat a/c, 5 respondents know anduse of salary a/c.

( C): Frequency distribution of respondents according to their knowledge aboutdont know awareness in types of accounts given in table (N=80)

Reimbursement current a/c Kisan no frill a/c No frill a/c Institutional saving account Premium current account Flexi current account Super saver facility account Kisan club saving account


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Figure 7 shows 80 respondents dont know about Reimbursement current a/c, 73respondents dont know about Kisan no frills a/c, 70 respondents dont know about NoFrill a/c, 70 respondents dont know about institutional saving a/c ,68 respondents dontknow about premium current a/c,68 respondents dont know about flexi current a/c,68respondents dont know about super saver facility acoount,65respondents dont knowabout kisan club saving a/c,60 respondents dont know about a/c, 59 respondents dontknow about plus current a/c 32 .


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Q5 frequency distribution of respondent according to their knowledge about the

amount of fixed deposit required for getting a locker in a bank (N=80)

S. No. Amount of fix deposit locker facilities No. of Respondent1 Rest- 5000 382 Rs-10000 123 Rs-15000 104 Dont know 85 Any other amount 25a Rs-500 55b Rs-1000 35c Rs-1500 2

Total 80

No. of Respondent

05

10152025303540

R e s t -

5 0 0 0

R s - 1 0

0 0 0

R s - 1 5

0 0 0

D o n t

k n o w

A n y o

t h e r a

m o u n

t

R s - 5 0

0

R s - 1 0

0 0

R s - 1 5

0 0

No. of Respondent

Figure 8

Sino. Name of the banks For smalllockers(Rs)

For big lockers(Rs)

1 HSBC 10000 150002 OBC 400 15003 ICICI Bank 5000 10000

On the basis of data the awareness of respondents given in the above figure is fairly good


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(b) In case of current account (percentage)Table 3

0(%) .5 2(%) . Above2(%)

Not respond TotalRespondent

15 50 8 7 80

0 10 20 30 40 50 60

0(%)

.5 2(%)

. Above 2(%)

Not respond

Series1

Figure 2

On the basis of table 12 data the awareness of respondents about interest rate of Currenta/c are very low

( c ) In case of fixed deposit accounts(percentages)

Table 4S.No. Fixed deposit A/C 1.5 - 5 5 7.25 7.25 - 9 Above 9 Total

1 For One year 45 20 5 10 802 For two year 56 20 2 2 803 For Three year 25 35 5 15 804 Beyond Three

Year 7 51 6 16 80


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0

10

20

30

40

50

60

70

80

For Oneyear

For two year For Threeyear

BeyondThree Year

Above 9

7.25 - 9

5 7.25

1.5 - 5

Figure 3

On the basis of table 12 data the awareness of respondents about interest rate of For one year fix deposit - LowFor two year fix deposit - LowFor three year fix deposit - LowBeyond three year fix deposit - Low Table 5 (interest rate of the current banks data )

S.No. Name of the

banks

Saving

a/c (%)

Current

a/c (%)

One

year fixdeposit(%)

Two

year fixdeposit(%)

Three

year fixdeposit(%)

Beyond

threeyear fixdeposit(%)

1 SBI 3.5 0 7.5 8.5 8.5 8.752 HDFC 3.5 0 8.5 8.5 8.75 8.753 Corporation

bank 3.5 .5 7.5 8.5 8.5 8.75

4 OBC 3.25 .25 7.75 8.75 9 8.755 Bank of

India3.5 0 7.25 8.5 8.75 8.75


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Q 7: Frequency distribution of respondents according to their knowledge aboutservice facilities are provided by banks (N=80)

Table 6

S.N. Services provided by Banks No. of respondentsmentioning the facility

Total Respondents

1 ATM 74 802 Online booking of railway

ticket56 80

3 Online trading of shres 40 804 Online payments of utility

bills45 80

No. of respondents mentioning the facility

ATM

Online booking of railwayticket

Online trading of shres

Online payments of utility

bills

Figure 4

Table 14 represents the respondents data about the service provided by banks are:(a) The awareness about ATM IS 74respondents because it is widely known and used.(b) The awareness about online booking of railway tickets is 56respodents.(c) The awareness about online trading shares is 40 respondents.

(d)The awareness about online payments of utility bills is 45 respondents.


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Q 8. Frequency distributions of respondent according to knowledge about the rank five banks on the basis of services to customers(N=80)Table 7S.NO. Name of the Banks Weighted average of frequency

1 HDFC 2.42 ICICI Bank 2.133 Union Bank of India 1.784 Indian Bank 1.755 Indian Overseas Bank 1.47(Source data appendix 5)

Weighted average of frequency

1 HDFC

2 ICICI Bank

3 Union Bank of India

4 Indian Bank

5 Indian Overseas Bank

Figure 5

Weight age of average frequency = weight x frequency No of respondents

Table 13 represents the rank of the banks given by respondents on the basis of weightage average of frequency, HDFC bank is on the first rank with 2.4waf, ICICI bank is onthe second rank with 2.13waf, Union bank of India on the third rank with 1.78waf, Indian

bank is on the fourth rank with 1.75waf and Indian overseas Bank is on the fifth rank with 1.47waf.


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Q 9. Frequency distributions of respondent according to knowledge about the firstbank to provide ATM facility in India.( N=80)Table 8

S. N0. Name of the bank No. Of Respondents1 ICICI Bank 402 SBI 183 HDFC 104 HSBC 12

0 10 20 30 40

ICICI Bank

SBI

HDFC

HSBC

No. Of Respondents

No. Of Respondents

Figure 6

HSBC is the first bank which started providing ATM facility in India. Table 16represents it. On the basis of respondents data, 12 respondents know that HSBC is thefirst bank to provide ATMs in India.


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Q 10. Frequency distributions of respondent according to their knowledge aboutcorrect matching 0f promotional slogans with relative banks (N=80s)

(a) Top three banks on the basis of respondent frequency.Table 9

S. No. Name of the bank Correct Match ByRespondents

1 SBI 332 PNB 313 Allah bad Bank 29

(Source of appendix 6)

(b) Least three banks on basis of respondent frequency

Table 10

S. No Name of the bank Correct Match ByRespondents

1 Indian overseas bank 142 HDFC 17

3 OBC 18(Source of appendix 6)


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Figure 7

1. The high awareness of respondents about mission& vision of banks are-The awareness about mission& vision of SBI- 33The awareness about mission& vision of PNB- 31The awareness about mission& vision of Allahabad bank- 292. The low awareness of respondents about mission& vision of banks are-The awareness about mission& vision of Indian overseas bank- 14The awareness about mission& vision of HDFC bank- 17The awareness about mission& vision of OBC bank - 18


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2. Awareness about services offered by banks like ATM, Online bookingof railways, Online trading of shares, online trading of utility bill. to income groupN=80

Income Group Level Of AwarenessHLA LLALower 11 19 30Upper 43 7 50Total 54 26 80

E (11) = 54*30/80=20.25 E (19) =26*30/80=9.75E (43) =54*50/80=33.75 E (7) =26*50/80=16.25

O E (O-E)2 (O-E) 2

11 20.25 85.56 4.2319 9.75 85.56 8.7843 33.75 85.56 2.547 16.25 85.56 5.27

20.82

Tabulated X2 0.05 for (2-1)(2-1)= 1 d.f 3.841 since calculated x2 is more then thetabulated value hence hypothesis may be rejected at 5% level of significance .


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3 Promotional slogan of three banks HDFC, SBI, Allahabad Bank

Income Group Level Of Awareness

HLA LLAHDFC 18 6 24State Bank Of India

19 13 32

Allahabad Bank 15 9 24Total 52 28 80

E (18) =52*24/80=15.6 E (19) =52*32/80=20.8E (15) =52*24/80=15.6 E (6) =28*24/80=8.40E (13) =32*28/80=11.20 E (9) =28*24/80=8.40

O E (O-E)2 (O-E)2/E18 15.6 5.76 .3619 20.8 3.24 .15515 15.6 0.36 .0236 8.40 5.76 .68513 11.20 3.24 .2899 8.40 0.36 .042

1.55

Tabulated X2 0.05 for (3-1)(3-1)= 2*2 df 9.488 since calculated x2 is less then thetabulated value hence hypothesis may be accepted at 5% level of significance ;


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4 Awareness about credit card offers. N=80

Income Group Level Of AwarenessCredit card are forborrowing money

Credit card userpay interest

Know about offerof credit card

36 6 42

Dont know aboutthe offer of creditcard

9 29 38

Total 45 35 80

E (36) =45*42/80= 23.62 E (9) =38*45/80=21.37

E (6)=42*35/.80=18.37 E (29) =38*35/80=16.62

O E (O-E)2 (O-E)2/E36 23.02 153.26 6.489 21.37 153.01 7.16

6 18.37 153.01 8.3229 16.62 153.26 9.22

31.18


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Critical Analysis

1) Whenever Internet transactions are discussed, immediately the thought of

credit card comes to everybodys mind. This is because in US the payments by

credit cards are quite common. Even before online purchases have become

popular, normally purchases are made through credit cards only. Therefore in US

there was no problem in making people to switch over to online purchases as this

mode of payment is already in vogue. Even in US, much discussion is going on

as to how to avoid frauds, misappropriation, etc of credit cards once the card

number is given online to a merchant. Encryption technologies. Secure socket

layers, etc are being introduced to avoid such things In spite of all these

measures, still reports keep coming regarding credit card frauds here and there.

In other words, there is no 100% foolproof to make credit card payment a safe

mode of payment.

2) In other countries, where credit cards payment system is not as popular as US,

online shopping through credit cards resulted in great failures. At least in

Singapore, a mega shop had experienced a fraud of huge magnitude and decided

to suspend immediately their online business. Similar stories are not uncommon

in other countries too.


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Limitations

The study is limited only to the 1 st and 2 nd year engineering female students .

Students are less aware about the various banking facilities as they mainly enjoy

the ATM facility.

The use of Net Banking depends on internet users and facility of internet and still

this facility in India is not available so easily so this is great limitation for net

banking awareness.

Less advertisement by banks of their various facilities available they only

concentrate on popular facilities so this is also a limitation for less awareness of

various banking facilities among respondents.


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Suggestions

Banks should do more advertisement about their facilities so that many people

come to know about its facilities.

The internet facility must be provided in all the branches of banks either small or

big then only all the people will come to know about Net Banking.

Existing customers of bank should be informed time to time in order to update the

knowledge of new banking facilities and increasing awareness for the same.

Mobile banking

Banks should go for mobile partnerships as the next wave of banking will consist mobile

banking as more and more people are using SMS and therefore, SMS can be used for

making transactions through mobile. The mobile era will lead to more partnerships

between companies in different sectors.

More ATM should be opened

New ATMs should be opened in the localities & public places so that people can get

money at anytime without any problem.

Net Banking should be supported

All banks should support the net banking so that people can utilize the net banking at

maximum.


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RESEARCH TOPIC: - Awareness About SelectedBanking Facilities Among 1 st and 2 nd Year FemaleEngineering Students- An Exploratory Survey

Dear Sir / Madam,The survey aims at finding out offerings and related services of banks to citizens of India. You might have availed of or may be thinking to realize the benefits of theseservices in future .You are requested to spare some moments of your valuable timeand express your believes/ opinion / thinking on the basis of your experience andknowledge .Your help in completing the survey is of high value. We will be gratefulto you .Information will be kept confidential and be used for research report in theaggregate manner

NAME:-MBA IV th Sem.RKGIT, Ghaziabad.

Questionnaire for survey

1. In your knowledge which of the following types of credit and debit cardsare offered by Indian banks(please tick in the appropriate boxes)

Offered Not offered Silver credit card

Value plus credit card

Health plus credit card

Gold credit card

Womans gold card

Platinum plus card

Visa signature credit card

Commercial card

Corporate credit card


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Business credit card

Easy shop international card

Kisan card

2. Which of the cards in your knowledge are preferred /most used (pleasetick in box)

Most preferred Preferred Least preferred

Debit card

Credit card

Prepaid card

3. Which of the following statements about differences between debit &credit card is true (please tick)

Credit cards are for borrowing money

Debit cards are used for drawing money from your bank account

Credit card users have to pay interest

Debit card users do not pay interest

4. Which of the following types of bank account you know about and use

Know onlyKnow and use Dont know

Regular saving account

Saving plus account

Saving max account

No frills account

Institutional saving account

Salary account

Kids advantage account


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4. Beyond three year______________________________

7. Which of the following services / facilities are provided by the banks?

ATM

Online Booking Of railways

Online trading of shares

Online payment of utility bills

8. Rank five banks on the basis of there reputation for service to customers .(Most reputed should get rank 1, next to it should get rank 2 and so on )

Rank Rank

HDFC HSBC

Indian Overseas Bank ABN Ambro

Axis Bank Standard Chartered

State Bank of Hyderabad Union Bank of India

ICICI Bank Indian Bank

9. Which was the first bank to provide ATM facility in India? (Please tick)

ICICI SBI

HDFC HSBC

10. Match the slogans with the names of the banks and write the letter of thebank in box against the name of the bank.

BanksA. CENTURIAN BANK OF PUNJABB. BANK OF INDIAC. UNION BANK OF INDIAD. ORIENTAL BANK OF COMMERCEE. HDFCF. ALLAHABAD BANK G. IDBI


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H. PNBI. BOBJ. STATE BANK OF INDIAK. INDIAN OVERSEAS BANK L. VIJAYA BANK

Slogans

100 years banking with passion

Relation ship beyond banking

A tradition of trust

The name u can bank upon

Good people to bank with

Where every individual is committed

We understand your world

Aao sochein bada

A friend you can bank upon

Good people to grow with

Pure banking nothing else ______________________________________________________________________

PROFILE:

Name:-

Age:-

Gender:-

Estimated family income: Upto 50,000 Upto 1,00,000 Beyond 1,00,000


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THANKS FOR YOUR COOPERATION

a study of awareness evolving needs of banking services by management student in lucknow

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