summer training hdfc bank
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SUMMER TRAINING REPORT
ON
Preferred Customers Attitude towards HDFC Bank LTD
Conducted At
HDFC BANK LTDNAKODAR BRANCH
Submitted to:PAU, Ludhiana
In partial fulfillment of requirements for theAwards of degree of MBA
Submitted By:BHARTI KALIA
(L-2009-BS-06-MBA (AB))Punjab Agricultural University
Ludhiana2010
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ACKNOWLEDGEMENT
This report could not have been possible without the help of certain people and
unstinting support of HDFC bank Ltd.
I would like to express my sincere gratitude towards Mr. Harjot Singh Ahluwalia
(Branch Manager) for his indicious and technical guidance, invaluable
and vital encouragement throughout the entire project which helped me
to get inside into the financial working of HDFC bank Ltd.
Sincere thanks is also extended to Mr. KARAN GROVER (Relationship Manager)
for his generous support , constant direction and mentoring at all stages of training.
His selfless and never failing interest, perpetual inspirations, constant
encouragement and constructive criticism polished my learning process and I am
sure that the experience gained here will go a long way in enriching my career.
I would also like to thank Mr. Manpreet Singh, and Mr. Amritpal Singh, Mr. Lalit
and Mr. Mohit for providing me with required data and giving direction to complete
my project.
I would also like to thank Ms. Parminder Kaur and all other sales staff members for
their support and guidance.
I also express my sincere thanks to my respective Major Advisor Dr. Y.P. Sachdeva ,
Professor and Head of the Department of Business Management, Punjab
Agricultural University, Ludhiana, under whose able guidance this project was
completed.
I express my sincere thanks to the whole HDFC bank Ltd. for giving all the facilities
during my training period.
In deed, the words at my command are not adequate to convey my heart full thanks
to my respective parents for the encouragement and inspiration given by them.
(Bharti Kalia)(L-2009-BS-06-MBA(AB))
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Abstract:
The project report consists of the activities provided by HDFC Bank Ltd. to deal
with their preferred customers. It gives details of the various
services, schemes and offers provided by the bank to its preferred
customers. This is a primary study to check the preferred
customers attitude towards HDFC Bank Ltd services. A well
defined and structured questionnaire was built to record the
responses of the banks preferred customers. It analyzes their level
of satisfaction and the problems faced by them ever.
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TABLE OF CONTENTS
Chapter No. Subject
1 INTRODUCTION TO HDFC BANK LTD.
2 INTRODUCTION TO PROJECT
3 RESEARCH METHODOLOGY
4 FINDINGS AND ANALYSIS
5 CONCLUSIONS AND SUGGESTIONS
ANNEXURES
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CHAPTER-1
INTRODUCTION
TOHDFC BANK
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1.2 Industry Profile:-
a.) Origin and development of the industry:-
Banking in India originated in the first decade of 18th century. The first banks
were The General Bank of India, which started in 1786, and Bank of Hindustan, both
of which are now defunct. The oldest bank in existence in India is the State Bank of
India, which originated in the "The Bank of Bengal" in Calcutta in June 1806. This
was one of the three presidency banks, the other two being the Bank of Bombay and
the Bank of Madras. The presidency banks were established under charters from the
British East India Company. They merged in 1925 to form the Imperial Bank of India,
which, upon India's independence, became the State Bank of India. For many years
the Presidency banks acted as quasi-central banks, as did their successors. The
Reserve Bank of India formally took on the responsibility of regulating the Indian
banking sector from 1935. After India's independence in 1947, the Reserve Bank
was nationalized and given broader powers.
A couple of decades later, foreign banks such as Credit Lyonnais started their
Calcutta operations in the 1850s. At that point of time, Calcutta was the most active
trading port, mainly due to the trade of the British Empire, and due to which banking
activity took roots there and prospered.
First of all we must note the fact that these institutions have changed very
much in character since their origin, and consequently nowadays perform many
functions unknown to those of former times. The first banks seem to have arisen in
connection with the business of exchanging money. In ancient times and especially
in the Middle Ages the varieties of coins were greater even than at the present day,
and they were much less perfectly and honestly minted. Specialists were, therefore,
required to determine their exact value and equivalence and to exchange coins of
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one mintage for those of another, and their BANK were in great demand at fairs and
other places where merchants of different nations met for purposes of trade.
Inasmuch as they kept their boxes or chests of coins on benches or "banken," the
name bankers came to be applied to them. On account of their technical knowledge
and the fact that they were obliged constantly to keep on hand considerable
quantities of the precious metals, this business in the early Middle Ages was usually
carried on by goldsmiths, but later it was sometimes assumed by the governments of
large commercial cities, as, for example, by Amsterdam in 1609, by Hamburg in
1619, and by Nurnberg in 1621. Of these latter the Bank of Amsterdam was the most
important and may be regarded as typical of these early institutions.
From the earliest times also, bankers have been the chief agents through
which foreign exchanges have been conducted. As dealers in coin and bullion they
had international connections and knowledge of international affairs not possessed
by other merchants, and was, therefore, in a position to undertake the settlement of
international accounts by means of orders drawn on bankers in other countries or
other cities with whom they had regular business transactions. As keepers of other
people's money they also promoted saving, and banks thus became in time the chief
savings institutions of the country.
b. Growth and present status of the industry: -
Currently (2009), banking in India is generally fairly mature in terms of supply,
product range and reach-even though reach in rural India still remains a challenge
for the private sector and foreign banks. In terms of quality of assets and capital
adequacy, Indian banks are considered to have clean, strong and transparent
balance sheets relative to other banks in comparable economies in its region. The
Reserve Bank of India is an autonomous body, with minimal pressure from the
government. The stated policy of the Bank on the Indian Rupee is to manage
volatility but without any fixed exchange rate-and this has mostly been true.
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With the growth in the Indian economy expected to be strong for quite some time-
especially in its services sector-the demand for banking services, especially retail
banking, mortgages and investment services are expected to be strong. One may
also expect M&As, takeovers, and asset sales.
In March 2006, the Reserve Bank of India allowed Warburg Pincus to
increase its stake in Kotak Mahindra Bank (a private sector bank) to 10%. This is the
first time an investor has been allowed to hold more than 5% in a private sector bank
since the RBI announced norms in 2005 that any stake exceeding 5% in the private
sector banks would need to be vetted by them.
Currently, India has 88 scheduled commercial banks (SCBs) - 27 public
sector banks (that is with the Government of India holding a stake)after merger of
New Bank of India in Punjab National Bank in 1993, 29 private banks (these do not
have government stake; they may be publicly listed and traded on stock exchanges)
and 31 foreign banks. They have a combined network of over 53,000 branches and
17,000 ATMs. According to a report by ICRA Limited, a rating agency, the public
sector banks hold over 75 percent of total assets of the banking industry, with the
private and foreign banks holding 18.2% and 6.5% respectively
Introduction of many products and facilities in the banking sector was 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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In 1995, the Brookings Institution published a paper entitled The
Transformation of the U.S. Banking Industry: What a Long, Strange Trip Its Been.
Using a breathtaking array of facts and figures, the paper described in great detail
the dramatic changes that had occurred in the U.S. commercial banking industry
over the 15 years from 1979 to 1994. The banking industry was transformed during
that period, according to the paper (p. 127), by the massive reduction in the number
of banking organizations; the significant increase in the number of failures; the
dramatic rise in off-balance sheet activities; the major expansion in lending to U.S.
corporations by foreign banks; the widespread adoption of ATMs; . . . and the
opening up of interstate banking markets. The paper went on to explain that most of
these major changes in banking could be traced to two developments: (1) the
extraordinary number of major regulatory changes during the period, from deposit
deregulation in the early 1980s to the relaxation of branching restrictions later in the
decade; and (2) clearly identifiable innovations in technology and applied finance,
including improvements in information processing and telecommunication
technologies, the securitization and sale of bank loans, and the development of
derivatives markets. Other research would later confirm the papers assessments
and its explanation of the course of events in the banking industry over the period
19791994.
Over the two decades 19842003, the structure of the U.S. banking industry
indeed underwent an almost unprecedented transformationone marked by a
substantial decline in the number of commercial banks and savings institutions and
by a growing concentration of industry assets among a few dozen extremely large
financial institutions. This is not news. As mentioned above, the decline in the
number of banking organizations has been ongoing for more than two decades and
has been well documented in the literature. Nevertheless, a brief overview will serve
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to clarify both the scope of the decline and the increasing concentration of assets
among the nations largest banking organizations
At year-end 1984, there were 15,084 banking and thrift organizations (definedas commercial bank and thrift holding companies, independent banks, and
independent thrifts). By year-end 2003, that number had fallen to 7,842a decline
of almost 48 percent (figure 1). Distributed by size, nearly all the decline occurred in
the community bank sector (organizations with less than $1 billion in assets in 2002
dollars), and especially among the smallest size group (less than $100 million in
assets in 2002 dollars). Yet the community banking sector still accounts for 94
percent of banking organizations.
c. Future of the industry:-
The burden of reporting and other regulatory requirements will fall heavily and
disproportionately on small banks unless remedial action is taken. Further advances
in information technology will permit the development of new products, BANK, and
risk-management techniques but may also pose important competitive and
supervisory issues. Nonbank entities will continue to offer bank-like products in
competition with banks, raising anew the question of whether banks are still special
and, more fundamental, whether banks are sufficiently different from nonblank firms
to justify the maintenance of a safety net for banks. It is useful, therefore, to try to
chart the course of the banking industry in the next five to ten years and to consider
what policy issues the industry and regulators will face. The authors of this study do
not pretend to be clairvoyant. They are mindful of the many financial predictions that
were once offered with confidence but turned out to be wrong or premature. This
study is perhaps best described as an exercise in strategic thinking. Its approach is
to analyze what has happened in the recent past, consider in detail reasons for
expecting recent trends to continue or to change, and draw the consequences for
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bank and regulatory policies. As always, uncertainties abound, and events that may
now appear fairly improbable may in fact shape the future. This paper closes with a
discussion of a number of such possible events. The future-of-banking study
addresses three broad questions:
1. What changes in the environment facing banking can be expected in the next five
to ten years?
2. What are the prospects for different sectors of the banking industry in this
anticipated environment? Because the banking industry is not monolithic and
different segments of the industry have, to some degree, different opportunities and
vulnerabilities, the study considers separately the prospects for large, complex
banking organizations; regional and other midsize banks; community banks; and
limited-purpose banks.
3. What policy issues are the industry and regulators likely to face in the years
ahead? Separate consideration is given to
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BACKGROUND OF HDFC BANK
The Housing Development Finance Corporation Limited (HDFC) Bank was
amongst the first to receive an 'in-principle' approval from the Reserve Bank of India
(RBI) to set up a bank in the private sector.
The bank was incorporated on 30th August 1994 in the name of HDFC Bank
Limited with its registered office in Mumbai. HDFC Bank commenced operations as a
Scheduled Commercial Bank on 16th January 1995. The bank has grown
consistently and is now amongst the leading players in the industry. HDFC has
branch offices in all major cities in India like Calcutta, Chennai, Delhi, Bangalore,
Hyderabad, and Ahmadabad apart from HDFC Mumbai.
HDFC India deals in varieties of products like home loan, standard life insurance,
mutual fund, securities, credit cards, etc.
Promoters
HDFC is India's premier housing finance company and enjoys an impeccable
track record in India as well as in international markets. Since its inception in 1977,
the Corporation has maintained a consistent and healthy growth in its operations to
remain the market leader in mortgages. Its outstanding loan portfolio covers well
over a million dwelling units. HDFC has developed significant expertise in retail
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mortgage loans to different market segments and also has a large corporate client
base for its housing related credit facilities. With its experience in the financial
markets, a strong market reputation, large shareholder base and unique consumer
franchise, HDFC was ideally positioned to promote a bank in the Indian environment.
Mission & Vision
HDFC Bank mission is to be a World-Class Indian Bank. HDFC Bank mission
is to provide our customers with the most useful investment guidance and
investment- related services available in the country. We want to become a one-stop
solution for all your investment needs, one that will help you get the most out of your
money.
The objective is to build sound customer franchises across distinct
businesses so as to be the preferred provider of banking services for target retail and
wholesale customer segments, and to achieve healthy growth in profitability,
consistent with the bank risk appetite. The bank is committed to maintain the highest
level of ethical standards, professional integrity, corporate governance and
regulatory compliance. HDFC Bank business philosophy is based on four core
values
Operational ExcellenceCustomer Focus
Product Leadership
People
Organizational Goals HDFCs goals are:-
Develop close relationships with individual households
Maintain its position as the premier housing finance institution in the country
Transform ideas into viable and creative solutions
Provide consistently high returns to shareholders
To grow through diversification by leveraging off the existing client base.
Distribution Network
HDFC Bank is headquartered in Mumbai. The Bank at present has anenviable network of over 1725 branches in 779 Indian towns and cities.
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The Banks expansion plans take into account the need to have a presence in
all major industrial and commercial centers where corporate customers are located
as well as the need to build a strong retail customer base for both deposits and loan
products. Being a clearing/settlement banks to various leading stock exchange, the
bank has branches in the centers where the NSE/BSE have a strong and active
member base. The bank offers many innovative products & services to Individual,
Corporate, Trusts, Government, Partnerships, Financial Institutions, Mutual Fund,
Insurance Companies.
The Bank also has a network of about 4232 networked ATMs across these
cities. Moreover, HDFC Bank's ATM network can be accessed by all domestic and
international Visa/MasterCard, Visa Electron/Maestro, Plus/Cirrus and American
Express Credit/Charge cardholders.
Management
Mr. C. M. Vasudev, who is a Director of the Bank is appointed as Chairman of
the HDFC Bank on a part time basis for a period of three years effective July 06,
2010.
The Managing Director, Mr. Aditya Puri, has been a professional banker for
over 25 years, and before joining HDFC Bank in 1994 was heading Citibank's
operations in Malaysia.
The Bank's Board of Directors is composed of eminent individuals with a
wealth of experience in public policy, administration, industry and commercial
banking. It consists of Mr. Keki Miistry, Mrs. Renu Karnad, Mr Gautam deewan, Mr.
Arvind Pandey and Mr. Ashim Samanta. Senior executives representing HDFC are
also on the Board.
Senior banking professionals with substantial experience in India and abroad
head various businesses and functions and report to the Managing Director. Given
the professional expertise of the management team and the overall focus on
recruiting and retaining the best talent in the industry, the bank believes that its
people are a significant competitive strength.
Technology
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HDFC Bank operates in a highly automated environment in terms of
information technology and communication systems. All the bank's branches have
online connectivity, which enables the bank to offer speedy funds transfer facilities to
its customers. Multi-branch access is also provided to retail customers through the
branch network and Automated Teller Machines (ATMs).
The Bank has made substantial efforts and investments in acquiring the best
technology available internationally, to build the infrastructure for a world class bank.
In terms of software, the Corporate Banking business is supported by Flex cube,
while the Retail Banking business by Fin ware, both from i-flex Solutions Ltd. The
systems are open, scalable and web-enabled.
The Bank has prioritized its engagement in technology and the internet as
one of its key goals and has already made significant progress in web-enabling its
core businesses. In each of its businesses, the Bank has succeeded in leveraging its
market position, expertise and technology to create a competitive advantage and
build market share.
Business Profile
HDFC Bank caters to a wide range of banking services covering both
commercial and Investment banking on the Wholesale side and transactional /
branch banking on the Retail side. The bank has three key business areas:
Wholesale Banking Services
The Bank's target market ranges from large, blue-chip manufacturing
companies in the Indian corporate to small & mid-sized corporate and agri-based
businesses. For these customers, 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 corporate including 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
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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.
The HDFC Bank Preferred program for high net worth individuals, the HDFC
Bank Plus and the Investment Advisory Services programs have been designed
keeping in mind needs of customers who seek distinct financial solutions, information
and advice on various investment avenues. The Bank also has a wide array of retail
loan products including Auto Loans, Loans against marketable securities, Personal
Loans and Loans for Two-wheelers. It is also a leading provider of Depository
Participant (DP) services for retail customers, providing customers the facility to hold
their investments in electronic form.
HDFC Bank was the first bank in India to launch an International Debit Card
in association with VISA (VISA Electron) and issues the MasterCard Maestro debit
card as well. The Bank launched its credit card business in late 2001. By September
30, 2005, the bank had a total card base (debit and credit cards) of 5.2 million cards.
The Bank is also one of the leading players in the "merchant acquiring" business with
over 50,000.
The Bank is well positioned as a leader in various net-based B2C
opportunities including a wide range of internet banking services for Fixed Deposits,
Loans, Bill Payments, etc.
BANKING AS A SERVICE
One of the major trends in recent years has been the dramatic growth of
services. The growing importance of the service sector in the economy has forced
academic interest towards the field. Services are varied and distinctive enough to
require a distinctive approach to be followed in their marketing and management.
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THE CONCEPT OF SERVICE
The term service is rather general in concept, and it includes a wide variety of
services advertising, marketing research, and banking, insurance, legal and
marketing services.
According to Kotler , A service is any activity or benefit that one party can
offer to another that is essentially intangible and does not result in the ownership of
anything. Therefore, its production may or may not be tied to a physical product.
Bank, as a service, can be understood in terms of its Marketing Mix elements.
These are:
The Product
Product from services point of view, is a match between service product
from customers view point and the suppliers view point. From banks point
of view, product are different offerings by bank in form of saving account,
current accounts, fixed accounts, de-mat account and salary account. In the
form of services, these are Net banking facility, Phone banking facility,
Mobile banking facility, ATMs, Debit cards, etc.
The Price
The price must be attractive enough to cause the customer to purchase
and high enough to cover your costs and give you profit. As it is said price
is a crude measures, it reflects in a single number all the attributes that a
customer may value in a product like time, effort, craftsmanship,
innovation, fashion, status, rarity, long term value and so on.
The Promotion
This involves determining the most effective means of letting your potential
customers know the availability and benefits of your product or service. This
can be done by promoting the products or services through advertising,
sales promotion, public relations, personal selling or direct marketing. In
case of banks most commonly adopted promotion tools are direct channels
like personal selling through its Marketing Executive, road side marketing
through use of banners, hoarding etc.
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Place
The most important decision element in the distribution strategy relates to
the issue of location of service so as to attract the maximum number of
customers. In case of HDFC Bank to penetrate into the market, it has a
distribution network of nearly 1412 branches in 528 cities all over India and
over 3295 ATMs.
People
An essential ingredient to any service provision is the use of appropriate staff
and people. HDFC Bank Recruits the right staff and train them appropriately
in the delivery of their service to obtain a form of competitive advantage. For
eg. Relationship Managers, premium managers are appointed only to provide
better services to their most profitable customers.
The Process
In a service organization, the system by which you receive delivery of the
service contributes the process. Like, in case of HDFC Bank, delivery of the
services is direct through the bank personnel, through the use of mails in the
form of monthly statement, or through the use of highly advanced technology
like Net banking, Phone banking etc.
Therefore, marketing on any services requires a blend of all the marketing
mix elements - product, price, promotion, distribution, people, physical
evidence and process.
The Physical Evidence
Physical evidence adds on to the image of the
service organization as perceived by the
customers. These constitute the physical,
tangible and controllable aspect of any service
organization. These are mainly of two types:
Peripheral Evidence: that is actually
possessed as a part of purchase of service,
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but by itself, is of no value. Like in case of a
bank, say HDFC Bank, a Cheque book
constitutes a peripheral evidence as it is of
value only if a customer his money in his
account.
Essential Evidence: It is something which
cannot be possessed by the customers, the
building, its size and design, logo and
mnemonic device of the organization, are
constituents of the essential evidence as the
logo of HDFC Bank adds on to the image of
the bank.
When Indian government removed the barriers
for foreign entrants with its liberalization policy,
multinational corporations helped in technical up-
gradation of Indian system. Prior to the change, it was a
sellers market and now it is a customer oriented
market.
For the first time, the customer or the buyers
have realized their power and organizations are more
focused towards service.
The same trend has been seen in the banking sector.
Prior to the change, the banks were nationalized and
the customers were treated impolitely. But now there
has been a dramatic change in the system. It is more
focused on the convenience of their customers. Withthe coming of private banks in Indian banking area,
nationalized banks are changing their systems and
habits.
Awards and Achievements
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HDFC Bank began operations in 1995 with a
simple mission: to be a "World-class Indian Bank" .
We realized that only a single-minded focus on product
quality and service excellence would help us get there.
Today, we are proud to say that we are well on our way
towards that goal.
It is extremely gratifying that our efforts towards
providing customer convenience have been appreciated
both nationally and internationally.
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21
2010
Institutional Investor MagazinePoll
HDFC Bank MD, Mr. Aditya Puri among "Asian Captainof Finance 2010"
IDRBT Technology 2009Awards
Winner - 1) IT Infrastructure 2) Use of IT within the BanRunners-up - IT Governance (Large Banks)
ACI Excellence Awards 2010 Highly Commended - Asia Pacific HDFC Bank
FE-EVI Green BusinessLeadership Award
Best performer in the Banking category
Avaya Global Connect 2010 Customer Responsiveness Award - Banking & FinanciaServices category
Forbes Top 2000 Companies Our Bank at 632nd position and among 130 Global HigPerformers
Financial Express - Ernst &Young Survey 2009-10 Best New Private Sector BankBest in GrowthBest in strength
Asian Banker ExcellenceAwards 2009 Best Retail Bank in India
Excellence in Automobile LendingBank M&A IntegrationTechnology Implementation
The Asset Triple A Awards Best Cash Management Bank in India
Euromoney Private Bankingand Wealth Management Poll2010
1) Best Loca l Bank in India (second year in a row) 2)Best Private Banking Services overall (moved up fromNo. 2 last year)
Financial Insights InnovationAwards 2010
Innovation in Branch Operations - Server ConsolidationProject
Global Finance Award Best Trade Finance Provider in India for 2010
2 Banking Technology Awards2009
1) Best Risk Management Initiative and 2) Best Use of Business Intelligence.
SPJIMR Marketing Impact
Awards (SMIA) 2010
2nd Prize
2009
Asia Money 2009 Awards 'Best Domestic Bank in India'
IBA Banking Technology
Awards 2009
'Best IT Governance Award - Runner up'
Global Finance Award 'Best Trade Finance Bank in India for 2009
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2007
Dun & Bradstreet American
Express Corporate Best Ban k
Award 2007
'Corporate Best Bank' Award
The Bombay Stock Exchang e
and Nasscom Foundation's
Business for Social
Responsibility Awards 2007
'Best Corporate Social Responsibility Practice' Aw ard
Outlook Money & NDTV Profit Best Bank Award in the Private sector category.
The Asian Banker Excellence
in Retail Financial Service s
Awards
Best Retail Bank in India
Products and ServicesHDFC Bank offers variety of products and
services to its customers and these are following:
Deposit Accounts
22
Excellence Award 2008
Asian Banker Excellence in
Retail Financial Services
'Asian Banker Best Retail Bank in India Award 2009 '
2008
Finance Asia Country Awards
for Achievement 2008
'Best Bank and Best Cash Management Bank'
CNN-IBN 'Indian of the Year (Business)'Nasscom IT User Award 2008 'Best IT Adoption in the Banking Sector'
Business India 'Best Bank 2008'
Forbes Asia Fab 50 companies in Asia Pacific
Asian Banker Excellence in
Retail Financial Services
Best Retail Bank 2008
Asiamoney Best local Cash Management Bank Award voted
Corporates
Microsoft & Indian Express
Group
Security Strategist Award 2008
World Trade Center Award of
honour
For outstanding contribution to international tra
services.
Business Today-Monitor
Group survey
One of India's "Most Innovative Companies"
Financial Express-Ernst &
Young Award
Best Bank Award in the Private Sector category
Global HR Excellence Awards
- Asia Pacific HRM Congress:
'Employer Brand of the Year 2007 -2008' Award - Fi
Runner up, & many more
Business Today 'Best Bank' Award
http://www.hdfcbank.com/aboutus/awards/default.htm#%23http://www.hdfcbank.com/aboutus/awards/dun_awards_07.HTMhttp://www.hdfcbank.com/aboutus/awards/default.htm#%23http://www.hdfcbank.com/aboutus/awards/default.htm#%23http://www.hdfcbank.com/aboutus/awards/default.htm#%23http://openwindow%28%22/common/bestbank07.htm%22,%22%22,%22width=640,height=450,scrollbars=yes%20,menubar=no,location=no,left=0,top=0%22)http://www.hdfcbank.com/aboutus/awards/default.htm#%23http://www.hdfcbank.com/aboutus/awards/default.htm#%23http://www.hdfcbank.com/aboutus/awards/default.htm#%23http://www.hdfcbank.com/aboutus/awards/default.htm#%23http://www.hdfcbank.com/aboutus/awards/default.htm#%23http://www.hdfcbank.com/aboutus/awards/default.htm#%23http://www.hdfcbank.com/aboutus/awards/default.htm#%23http://www.hdfcbank.com/aboutus/awards/default.htm#%23http://www.hdfcbank.com/aboutus/awards/default.htm#%23http://www.hdfcbank.com/aboutus/awards/default.htm#%23http://www.hdfcbank.com/aboutus/awards/default.htm#%23http://www.hdfcbank.com/aboutus/awards/default.htm#%23http://www.hdfcbank.com/aboutus/awards/default.htm#%23http://www.hdfcbank.com/aboutus/awards/default.htm#%23http://www.hdfcbank.com/aboutus/awards/default.htm#%23http://www.hdfcbank.com/aboutus/awards/default.htm#%23http://www.hdfcbank.com/aboutus/awards/default.htm#%23http://www.hdfcbank.com/aboutus/awards/default.htm#%23http://www.hdfcbank.com/aboutus/awards/default.htm#%23http://www.hdfcbank.com/aboutus/awards/default.htm#%23http://www.hdfcbank.com/aboutus/awards/default.htm#%23http://www.hdfcbank.com/aboutus/awards/dun_awards_07.HTMhttp://www.hdfcbank.com/aboutus/awards/default.htm#%23http://openwindow%28%22/common/bestbank07.htm%22,%22%22,%22width=640,height=450,scrollbars=yes%20,menubar=no,location=no,left=0,top=0%22) -
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SAVINGS ACCOUNT
These Accounts are primarily meant to inculcate a
sense of saving for the future, accumulating funds over
a period of time. Apart from the usual facilities, one get
a free ATM card, inter branch banking, net banking,
phone banking, debit card and mobile banking among
others.
Maintain AQB required Rs.10000/- (Urban)
Rs.5000/- (Semi Urban)
If AQB is less than:
Rs.10,000/- (Urban) Rs.750/-
per quarter Rs.5000/- (Semi Urban) Rs.750/-
per quarter If customer opens a Fixed Deposit Account of
Rs. 50,000/-, then he/she no longer have to
maintain a minimum balance of Rs. 10,000 on
Savings Account.
The following are the types of the saving accounts
- Regular
Savings Account
- No Frills
Account
-Retail Trust
Account
- Salary
Accounts:
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-
Payroll
-
Classic
-
Regular
-
Premium
-
Defense
-Kid's Advantage
Account
-Pension Saving
Bank Account
-Family Savings
Group
CURRENT ACCOUNT
HDFC Bank offers current account to meet business
requirement of the different customers, whatever the
size and scope of business be.
Maintain AQB is Rs.10,000/-
50 cheque leaf Free
The following are the types of the current accounts
Plus Current
AccountTrade Current
Account
Premium Current
Account
Regular Current
Account
Reimbursement
Current Account
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RFC - Domestic
Account
FIXED DEPOSITS
Long-term investments form the chunk of everybody's
future plans. HDFC Bank offers fixed deposits as an
alternative to simply applying for loans. It allows you to
borrow from your own funds for a limited period, thus
fulfilling your needs as well as keeping your savings
secure.
Minimum Deposits Rs.10,000/-
The following are the types of the fixed deposit
accounts
Regular Fixed
Deposit
Super Saver
Account
Sweep-in
Account
RECURRING DEPOSITS
Invest an amount every month in HDFC Bank Recurringdeposits so as to meet your financial needs.
Loans-
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Whatever customer needs, range of loans is being
provided to help. Personal Loans - For a wedding, house
renovation, education, purchase of a computer or
exiting holiday, loans can be taken from HDFC
Banks range of Personal Loans.
Home Loans - Get the home of your dreams -
with a little help from us.
Two Wheeler Loans - With flexible payment
options and easy repayment, our Two Wheeler
Loan offers the perfect excuse to purchase that
bike you've always wanted.
New Car Loans - Drive away the car of your
dreams - with our New Car Loan.
Used Car Loans - Choose any used car and well
put you in driver's seat.
Overdraft against Car - Get an overdraft against
your car and utilize the money for your personal
or business needs.
Express Loans - Borrow from Rs. 10,000 to
75,000 for any purpose at low interest rates.
Loans against Securities - Get an overdraft
against your securities like Equity Shares, Mutual
Fund Units, GOI Relief Bonds, LIC Policies and
IMDs/RIBs.
Loans against Property - Get a loan against
your residential or commercial property. Flexibility
to choose between an EMI based loan or anOverdraft.
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Cards
Credit Cards Silver Credit Card, Gold
Credit Card, Titanium Credit Card, platinum
credit card, Value Plus Credit Card, Health
Plus Credit Card, HDFC Bank Idea Silver
Card, HDFC Bank Idea Gold Card.
Debit cards Easy Shop International Debit
Card, Easy Shop Gold Debit Card and Easy
Shop Woman's Advantage Debit Card
Prepaid cards - Forex Plus card and Gift
Plus Card, Money Plus card, Food Plus card
etc.
Forex Services
HDFC Bank has a huge range of forex products
and services that can be chosen to transact smoothly,
efficiently and in a timely manner. The foreign exchange
products and services offered by HDFC Bank are:
TradeFinance
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Traveller
s' Cheques
Foreign
Currency Cash
Foreign
Currency Drafts
Foreign
Currency Cheque Deposits
Foreign
Currency Remittances
Forex
Plus Card
Investment Services
When you bank with us, we ensure your money
is not just in safe hands. HDFC Bank help you to invest
wisely through their financial and investment services.
Various investment services offered by HDFC Bank are:
Mutual
Funds
Insurance
Bonds
Equity
Advice
Financial
Planning
Knowledge
Centre
Equities &Derivatives
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Mudra
Gold Bar
Payment Services
Net Safe - It is a unique online payment solution
that offers complete security while shopping on
the Internet. With Net Safe, one can shop online
without revealing his Credit Card number.
Prepaid Refill - If a person is HDFC Bank
account holder and a prepaid customer, he can
refill his prepaid mobile card with prepaid refill
service.
Bill Pay - Telephone, electricity and mobile phone
bills can now be paid at customers convenience
through the Internet, ATMs, mobile phone and
telephone with Bill Pay, our comprehensive bill
payments solution.
Direct Banking Channels
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Wherever you are, your bank is always
accessible. Experience the total control and
convenience with our range of innovative services.
Net Banking - Access your bank account from
anywhere in the world, at anytime, at your ownconvenience.
You can also view your Demat Account through
Net Banking. With Net Banking, you can not only view
your account balance but also open a Fixed Deposit,
transfer funds, pay your electricity, telephone or mobile
phone bills and much more.
What can I do using Net Banking?
View Account Balances & Statements
Transfer Funds between accounts
Create Fixed Deposits Online
Request a Demand Draft
Pay Bills
Order a Cheque Book
Request Stop Payment on a Cheque
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One View One View is a revolutionary service from
HDFC Bank that allows you to manage multiple
accounts in different banks through one single online
interface. If you are an HDFC Bank customer and have
one or more accounts with Citibank, ICICI Bank, HSBC
India, Standard Chartered Bank then One View is just
right for you.
Features & Benefits
No need to individually log on to internet
banking of every account. Just log on to One
View and manage upto FIVE accounts indifferent banks.
Remember only ONE password.
No charges whatsoever - Enjoy this
convenience, absolutely FREE!
ATMs Now, your money is accessible to you 24 hours
a day, 7 day a week, 365 days a year from any of our
over 4232 ATM across India. So, wherever you are, at
whatever time, you will always have access to your
account.
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Benefits:
24-hour access to cash - Withdraw up to Rs.10,000/-
per day on your ATM Card. The fast cash option saves
your time by providing the cash in denominations of Rs.500/-.
View Account Balances & Mini-statements - Get
details of the last 9 transactions on your account with
the mini-statement, along with your balance.
Order a Cheque Book / Account Statement
Transfer Funds between accounts - You can also
transfer money from one of your accounts to another.
Both accounts must be linked to your ATM Card and
Customer ID. A maximum of 5 saving and 5 Current
Accounts can be linked.
Refill your Prepaid card - If you are an HDFC Bank
Account holder and a prepaid customer, you can now
refill your prepaid card with our Prepaid Refill service.
Pay your utility bills - Pay your cellular, telephone and
electricity bills through the ATM using Bill Pay, a
comprehensive bill payments solution. Know more
about
Deposit cash or cheques - You can deposit cash or
cheques into your account and the ATM will
immediately print a receipt for the same.
Phone Banking - When you dial in to Phone Banking,
a voice prompt will guide you through the various
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transactions. You may also talk to a Phone Banker, who
will provide you with the required assistance.
Avail of the following services via Phone Banking:
Check your account balance - Get up-to-the-second
details of your Savings or Current Accounts and your
Fixed Deposits. You can also get the details of the last
9 transactions on your account, or have a mini
statement faxed across to you.
Enquire on the cheque status - You can use Phone
Banking to check on the status of cheques issued or
deposited from anywhere in India.
Order a Cheque Book / Account Statement - Just call
Phone Banking and get your Cheque Book or latest
Account Statement delivered at your doorstep.
Stop Payment - Stop payment of a single cheque or a
series of cheques, 24 hours a day.
Loan Related queries - Get details of the outstanding
loan amount, enquire about your loan account, request
for an interest certificate and repayment schedule, etc.
Just call Phone Banking in your city and dial 4 andspeak to our Phone Banker.
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Open a Fixed deposit or Enquire on your Fixed
deposits / TDS - Talk to our Phone Banker to easily
open a Fixed Deposit over the phone, by simply
authorizing a transfer of funds from your Savings
Account.
Transfer Funds between accounts - You can also
transfer money from one of your accounts to another.
Both accounts must be linked to your Customer ID. You
can transfer amounts up to Rs 1 Lac in a single day.
Pay your bills - Pay your cellular, telephone, electricity
and HDFC Bank credit card bills through the Phone
Banking using Bill Pay, a comprehensive bill payments
solution.
Report loss of your ATM / Debit Card / Forex Plus
Card - If your ATM / Debit Card / Forex Plus Card is
lost, call any Phone Banking numbers to deactivate
your card(s).
Learn about all our other products - Get details on
HDFC Bank products & services by talking to our
Phone Banker.
Enquire about latest Interest / Exchange rates - Get
latest Interest rates on Deposits and Foreign Exchange
rates by talking to our Phone Banker.
Mobile Banking - Access your account on your mobile
phone screen at no airtime cost. Use SMS technology
to conduct your banking transactions from your cell
phone.
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Our Mobile Banking service provides a host of features
at your finger-tips through SMS:
Get your balance details Obtain your last 3 transaction details
Request a cheque book
Stop a cheque payment
Enquire cheque status
Request an account statement
Get Fixed Deposit details
Pay your bills
Insta Alert Just register for our Insta Alert service
and receive updates on your account as and when the
select transaction happens - all this without visiting the
branch or ATM.
You can register for any or all of the following
alerts:
Debit transactions greater than Rs.5,000/ Rs.10,
000/ Rs.20,000/Rs. 50,000 Credit in account greater than Rs.5,000/ Rs.10,
000/ Rs.20,000/Rs. 50,000 Account Balance below Rs.5,000/ Rs.10, 000/
Rs.20,000/Rs. 50,000- Weekly account balance
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Salary Credits
Utility bill payment due Alert
Bill Pay - Now, you have the luxury of paying your
telephone, electricity and mobile phone bills at your
convenience through the Internet, ATMs, your mobile
phone or telephone - using Bill Pay, a comprehensive
bill payments solution. LIC insurance premiums can
also be paid through this facility.
A variety of payment modes available - Internet,
ATMs, your Mobile phone, Telephone and Direct Pay.
Inter City/ Inter Branch Banking - Our sophisticated
computerized network gives you the flexibility of
accessing your Savings or Current Account from any of
our over 531 branches and over 1300 ATMs acrossIndia.
HDFC BANK, NAKODAR
HDFC Bank, Nakodar playing a pioneer role in
providing banking services to the residents of Nakodar.
I have got an opportunity to complete my summer
training here.
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The branch is situated in the heart of the city
satisfying the banking needs of the people with its
efficient Bank Staff, Reliable and Prompt services and
under the esteem guidance of its Head Office. This
Branch is providing Retail banking services.
SWOT Analysis
STRENGTH Amalgamation with Centurion Bank of Punjab
provided large database of Punjab. Location is also strength of HDFC Bank. Totally
NRI belt of 28 villages comes under tehsil
Nakodar. Farmers are potentially sound having
comparatively large farms which is proved as aboom for selling agri-products.
Foreign Exchange service is available with
HDFC only at Nakodar. Due to large no. of branches wide coverage is
possible. Loans are disbursed aggressively.
WEEKNESS Sitting arrangement is not satisfactory.
Staff availability is less during peak hours.
Sales staff is less as compare to other banks.
Database is less as compare to other banks.
KYC process is very lengthy as well as time
consuming.
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OPPURTUNITIES Can attract more customers by charging less
interest rates on loans as compare to other local
banks. Bank can penetrate easily with proper utilization
of huge network available.
THREATS Decentralization policy of Capital Local Area
bank is a major setback for HDFC Bank. Liberalized policy of Axis Bank of KYC is also
giving competition.
Financial Analysis
Financial analysis refers to the process of
determining the financial strengths and weakness of a
company or firm by establishment strategic relations
between the items of the Balance Sheet, Profit & Loss
Account and other operative data. In short, it is the
analysis and interpretation of information contained in
financial statements to obtain a better understanding of the companies performance, position, profitability and
financial soundness .
A. Ratios
1) Liquidity Ratio
Liquidity refers to the ability of a concern to
meet its current obligations as and when these become
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due. The short - term obligations are met by realizing
amounts from current assets.
a) Current Ratio: Current ratio is the relationship
between current assets and current liabilities. This ratio
is used for short term liquidity position.
Current
Assets
Current Ratio =
Current
Liabilities
[Current Assets = Cash + Balances with Banks +
Other Assets Deferred Tax]
Rs. 11,50,613
2010 = =
1.21
Rs. 9,50,398
Rs. 9,13,476
2009 = = 1.16
Rs. 7,84,949
Rs. 5,73,107
2008 = = 1.09
Rs. 5,26,446
Rs. 4,52,912
2007 = = .72
Rs. 6,29,698
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Analysis:
This ratio depicts whether the Bank has
sufficient Current Assets to pay its Current
Liabilities. The rule of thumb of this ratio is 2:1. But
as shown in all the 3 years this rule of thumb is not
met. Although rate of growth in current ratio is
higher in year 2008 (1.09) as compare to 2007
(0.72), but ratio is progressing at lower rate in year
2009 (1.16) and 2010 (1.21). However, an increasing
ratio at good rate promises the good future of the
bank.
b) Quick Ratio: Quick ratio also known as
Acid Test or Liquid Ratio is a more rigorous
test of liquidity than the current ratio. The
term Liquid refers to the ability of a firm to
pay its short-term obligations as and when
they become due.
Quick Assets
Quick Ratio =
Current
Liabilities
Rs. 8,55,358
2010 = = 0.90
Rs. 9,50,398
Rs. 6,91,900
2009 = = 0.88
Rs. 7,84,949
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Rs. 4,47,400
2008 = = 0.85
Rs. 5,26,446
Rs. 3,55,088
2007 = = 0.56
Rs. 6,29,698
Analysis:
Quick ratio shows that how many times the
quick assets are available to pay the current liabilities of
bank. The rule of thumb is 0.5 :1. As data clearly depicts
that bank satisfies this ratio. In the year 2007 the ratio is
being satisfied at 0.56 by bank and ratio increases at
higher rate to 0.85 in 2008 year. A small increase is
shown in year 2009 and 2010 at 0.88 and .90
respectively. The main reason behind that the bank is
keeping cash excess of its CRR. The bank is fully
satisfying its short term solvency.
2) Operating Profit Ratio
Operating Profit
Operating Profit Ratio =
*100
Total Income
[Operating Profit = Total Income Interest Expended
Operating Expense]
[Total Income = Interest Earned + other Income]
Rs. 6,42,972
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2010= *100 =
32.18%
Rs. 19,98,052
Rs. 5,17,896
2009 = *100 =
26.39%
Rs. 19,62,288
Rs. 1,34,387
2008 = *100 = 35.34%
Rs. 3,74,483
Rs. 3,55,088
2007 = *100 = 33.28%
Rs. 3,02,896
Analysis:
Operating Profit ratio shows the profit earned by
Bank from its operating activities. Operating profit is
obtained by adding all Income of Bank and deducting
the operating expenses. All non-recurring Income and
Expenditure are ignored. When see the data it shows
that Bank has 33.28% as operating profit in year 2007
which increase to 35.34% in year 2008. In the year 2009
it is 26.39% which is less as compare to 2007 and 2008
years. But bank has a ratio of 32.18% in year 2010 it
means after a year it comes on track successfully. So
Bank promises a good future deal towards its Holders
and Customers.
3) Operating Cost Ratio
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Operating Cost
Operating Cost Ratio =
*100
Total Income
[Operating Cost = Interest Expended + Operating
Expense]
[Total Income = Interest Earned + other Income]
Rs. 13,55,080
2010= *100 =
67.82%
Rs. 19,98,052
Rs. 3,62,059
2009 = *100 = 64.66%
Rs. 5,59,932
Rs. 2,40,096
2008 = *100 = 64.11%
Rs. 3,74,483
Rs. 2,02,105
2007 = *100 = 66.72%
Rs. 3,02,896
Analysis:
Operating Cost ratio depicts the operating cost
incurred by Bank to earn its operating total Income. As
shown by above ratio its clearly depicts that Banks
operating cost is rising leading to reducing operating
profit. Banks operating cost in the year 2007 was
66.72% and it reduced to 64.11% in year 2008. But
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again it is increasing 64.66% in year 2009 and 67.82%
in 2010. Presenting a good future of bank in spite of
such increase because overall income of Banks rising.
4) Profitability Ratio
Net Profit after
Tax
Profitability Ratio =
*100
Total Income
[Total Income = Interest Earned + other Income]
Rs. 2,94,869
2010= *100 =
14.75%
Rs. 19,98,052
Rs. 87,078
2009 = *100 = 15.55%
Rs. 5,59,932
Rs. 66,556
2008 = *100 = 17.77%
Rs. 3,74,483
Rs. 50,950
2007 = *100 = 16.82%
Rs. 3,02,896
Analysis:
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Profitability ratio shows the Net Profit after tax
earned by bank upon his total Income. Banks total
income is increasing each consecutive year. In the year
2007 the Bank has earned 16.82% profit after tax on his
total income and it raise to 17.77% in year 2008. But
now it is continuously falling in year 2009 and 2010
which is 15.55% and 14.75% respectively. But overall
prospective of bank is highly good because banks
overall income is rising.
5) Proprietory Ratio: Proprietory ratio indicates
the extent to which the Assets of the company
can be lost without affecting the interest from the
creditors. Higher ratio, higher long term
solvency.
Shareholders
Fund
Proprietory Ratio =
Total Assets
[Shareholders Fund = Capital + Reserve and Surplus]
Rs.21,51,959
2010= =
0.09
Rs. 2,22,45,860
Rs. 5,29,953
2009 = = 0.07
Rs. 73,50,639
Rs. 4,51,985
2008 = = 0.09
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Rs. 51,42,900
Rs. 2,69,188
2007 = = 0.06
Rs. 42,30,699
Analysis:
The above analysis shows that 6 paise is contribution
of shareholders in every rupee invested into the Bank.
This increased gradually in next year 9 paise but slightly
fall to 7 paise and then again rise to 9 paise in 2010. It
shows that bank premises a good long solvency.
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CHAPTER 2
INTRODUCTION
TOPROJECT
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Objectives of the report
1. To know about Preferred Customers attitude
towards HDFC bank services.
2. To know the satisfaction level of Preferred
Customers of HDFC Bank Ltd. regarding: -
Products, Services, Dealing, Rate charges,
Extra Benefits etc.
3. To trace out the problems faced by the
Preferred Customers of HDFC Bank Ltd.
4. To study brand image of the bank.
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Preferred Customers
Preferred Customers is that Customers of Bank
which is being preferentially treated by the bank.
Preferred Customers are most Profitable Customers for
the HDFC Bank for the reason that he has a large sum
of money in the Bank.
On fulfilling the Eligibility criteria, any customer
of the Bank became a Preferred Customer and also he
enjoys many services from the Bank at concessional
rates which are not enjoyed by the normal Customers of
the Bank.
HDFC Bank as a process gives Bending to theaccounts as per the profitability. The bends ranges from
1 to 5
Where: 1 is least profitable
5 is most profitable.
The Preferred Program
The Preferred program has designed to takecare of most profitability customers of the bank.
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With HDFC Bank Preferred Program, customers
comfort always comes first. Ideal for seasoned
professionals or businessmen, this program will provide
with a banker dedicated to take care of all banking and
investment needs of customers. It also means
customers get preferential rates on various banking
products and other exclusive benefits.
The objectives of the Preferred Program are:
Enhance the size of the relationship that the
preferred customers have with the bank.
Thus growth over the current relationship
value remains the foremost objective.
Deepen the relationship by cross selling as
many of the banks product and services tothe preferred customers. This will result in
higher loyalty and greater profitability of
these relationships.
Provide the best possible service to these
customers. Thus each preferred relationship
will have a Relationship Manager to take
care of all service needs.
Through a process of referrals from exitingpreferred customers and through targeted
programs on select customer database,
acquire new preferred customers into the
program.
Benefits available to Preferred Customers
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The following benefits will be available to all preferred
customers:
All Preferred customers will have a dedicated
Relationship Manager to look after their
relationship. The role of the RM will be to offer
all product and services of the bank to the
customers and make it easy for the customers
to avail of these services. The RM will also be
responsible to take care of all servicing needs to
the preferred customers.
Special price offs or discounts on product and
services. The list below provides the discounts
available
Seria
l No.
Items Remarks
1. Waiver of minimum AQB
maintenance charges
All accounts belonging to customers under the
Preferred program will get a zero balance waiver.2. Higher limits on the Debit Card The daily limits applicable to all debit cards
issued to Preferred customers will be cashwithdrawal at ATMs Rs. 25,000/-, at POS; Rs.
50,000/-.3. Special design Debit card All Preferred customers will get a specially
designed debit card. This card will be used as an
identifier for a whole host of marketing programs.4. Gold Debit card free for life The annual fee of Rs. 500/- will be waived for life
for all customers under the Preferred program.
This waiver will apply to all the account holders in
that group.5. PAP cheque book facility on the
SB account
Preferred customers will get free PAP cheque
books on the SB account. This facility will be
available on request.6. PAP facility on Current accounts Preferred customers can also request for a free
PAP cheque book on their Current account.
Intercity funds transfers will be charged at Rs.
1.50/- per 1,000.
7. 50% discount on lockers charges Preferred customers will get a reduced annualrental of 50 per cent on lockers.
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8. Better conversion rates on FX
txns
Conversion rates on FX transactions can be
improved upto 8 paise on the card rates for both
buy and sell FX txns.9. Gold Credit Card free for life*
(*life = as long as customer onportfolio)
Preferred customers will get a waiver on the
annual fee on Gold credit cards. Customers canalso avail of the My City Benefit card free of
charge.1
0.
HSL a/c Account opening charges reduced to Rs. 399 for
Preferred customers.
1
1.
Reduced annual charges on
Demat accounts
There is no charge.
1
2.
Cheque pick up Preferred customer can request for a free cheque
pick up for deposit into their account.
1
3.
Free combined statement Preferred customers will receive a combined
statement at a monthly frequency free of charge.
The statement will provide details of their CASA
and FD accounts.1
4.
Free standing instructions The set up fee of Rs. 150/- and transaction
charge of Rs. 25/- per txn is waived for Preferredcustomers.
1
5.
Special pricing on asset
products*
Preferred customers will get a reduced piecing on
Asset products.
*As per the Verification & Pricing Norms for Bank
Customers Asset Loans policy published by the
Retail Asset Group.
Service charge waivers of up to Rs. 2,000/-
annually
In addition to the above mentioned Price
offs/Discounts, Preferred customers will be entitled to a
waiver of up to Rs. 2,000/- annually on service charges
that the Bank recovers on a whole host of services.
Charges included in his list are:
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Serial
No.
Items Serial No. Items
1. DD/MC charges* 7. Hold mail charges
2. Inter-branch funds transfer charges 8. Duplicate statement
3. Stop payment charges 9. Certificate of balance
4. Cheque return charges 10. FIRC* charges
5. Cheque collection charges 11. Recovery of old records
6. DD cancellation charges
MC charges* = Managers Cheque Charges (its only for
the local transactions).
FIRC* = Foreign Inward Remittance Certificate (its a
duplicate certificate).
On-demand exclusive privileges
No charges on NEFT & RTGS transactions
through Netbanking.
Get Free Alerts on your mobile phone or in your
mailbox by registering for our InstaAlert facility.
It comes at no cost to you.
Register for free e-Age Banking - Avail of
MobileBanking, NetBanking , or PhoneBanking
facilities.
Waiver of AQB non-maintenance charges
Free Preferred International Gold Debit Card,
with higher spending limit of up to Rs. 50,000
and cash withdrawal of up to Rs. 75,000 in a
single day.
No charges will be levied for balance enquiry
and cash withdrawal if you transact on non
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HDFC Bank ATM (VISA/ MasterCard / Euronet/
SBI/ Andhra Bank) in India.
A life time free HDFC Bank Credit Card which
offers you exclusive and preferential benefits!*
Request for a free "At Par" cheque book payable
at any HDFC Bank branch across the country,
doing away with the need for asking for a
demand draft.
Avail of a locker at just 50% of the annual fee.
(Subject to availability)
Open multiple Demat accounts absolutely free
of charge. Also, avail of a discounted rate on
transactions on your Demat account.
Preferential Forex rates.
Avail of combined monthly statement of your
Savings, Current and Fixed Deposit accounts
where you are principal holder.
Free Standing Instructions facility.
Cheque pick up facility.
Avail of the BillPay facility and take care of all
your utility bills and LIC premiums through
PhoneBanking and NetBanking .
Eligibility for entry into the Preferred Programme
The terms and requirements for being eligible
for the HDFC Bank Preferred Programmer are
following:
You are eligible for the Preferred Program if you:
Hold at least one Savings or Current account,
sole or joint account, with HDFC Bank.
Maintain a minimum Average Monthly balance
of Rs. 15 Lakhs across all your accounts
(Savings, Current and Fixed Deposits*)
OR
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Maintain an Average Quarterly Balance of Rs. 2
Lakhs in your Savings account.
OR
Maintain an Average Quarterly Balance of Rs. 5
Lakhs in your Current account.
The requisite balance can be maintained over
your accounts and over those of your immediate
family members.
Note:
For the purpose of arriving at the relationship
size for a single customer or a group comprising
of multiple customers, only those accounts in
which the customer(s) is/are the first holder(s)
should be considered i.e. the customer ID
necessarily has to be the first holder Customer-
ID. Once a customer has been grouped under one
relationship, the same customer cannot from
part of another relationship. At the time of entry of a group into the preferred
program, all CASA accounts being aggregated
to arrive at the qualifying criteria should have
been with the bank for one full quarter. Even if one account has not been with the bank for one
full quarter and is being considered to reach the
qualifying criteria, then the case needs to be
approved as an exception by the RBM. In case multiple FDs need to be belonging to a
group are being aggregated to arrive at the
qualifying criteria, then all FDs need to be of
tenors of at least 6 months. In case even if a
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single FD of a tenor less than 6 months then an
exception approval need to be obtained from the
RBM.
The entry into the Preferred program will be as per the criteria defined above. All relationship will be
continuously monitored every quarter to ensure that at
least one of the eligibility criteria is always satisfied by
that relationship or group i.e. At least one of the
eligibility criteria with respect to SB, CA or Fixed
Deposits has to be met.
Going forward, the eligibility criteria will be based onprofitability i.e. Net revenue realization from the
relationship/group after netting off all servicing costs.
The data of implementation of Profitability criteria will be
communicated later.
Grouping
Rules for grouping
Serial
No.
Entity satisfying the entry
criteria
Who can be groped?
1. Individual Spouse, children, father
brother, sister
Proprietorship/Partnershi
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Ltd/Company/HUF in which the in
the Proprietor, Partner, Director or Ka2. Proprietorship firm Proprietorship in the individual cap
family members as per the groupingindividuals
3. Partnership firm All partners in their individual capacity
family members as per the grouping
individuals4. Pvt. Ltd Company All Directors in their individual capacity
family members as per the grouping
individuals5. HUF The Karta and Co-parceners in their
capacity6. Trust/Society None of the trustees and members of t
can be grouped
Other conditions
The Cust ID of the main member in the
group should be assigned as the Group ID. Even if there is a single Cust ID in a group, it
should be assigned as the Group ID for thesingle Cust ID.
A maximum of 10 Cust ID can form a part of
a group. A Cust ID cannot form part of 2 groups in its
capacity as the first account holder ID e.g. If
Cust ID C1 is part of group G1, then all
accounts where C1 is the first holder can
only be included in group G1. However, in
case C1 is a joint holder in some account,
then that can be grouped in a different
group. Cases not satisfying the above
grouping criteria need to be referred to
Product Management for exception
approval. Only one RM service all members of a
group.
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As stated in the section on eligibility criteria, the
relationship size can be met at a group level. In case
the branch would like to induct a particular
relationship/group that does meet the entry criteria into
the Preferred program then the RBM needs to approve
the case as an exception.
Important
1. The waiver of Rs. 2,000/ per annum on service
charges will be available at a group level.
2. All Cust IDs within a group will enjoy the price
discounts as available under the program.
Exception cases
Existing Customers not meeting the
eligibility criteria can be inducted into the
program only as exceptions with the
approval of the RBM. New Customers whose accounts are
opened in a Quarter can be inducted into the
program based on CASA balances, only as
exceptions approved by RBMs as AQB will
not be available.
Deemed Preferred Customers
Recognizing a need for a strong cross sell of
the Preferred program into select customer segments
and also that in certain cases key functionaries/officials
can influence banking decisions; this new category is
being introduced under the Preferred program. R.M.s
can induct the following persons into the preferred
program as deemed preferred customers:
1. Officials of the rank of General Manager
and Vice-Presidents in all Cat A and CSRM
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salary account companies. In case the
company discontinues its salary relationship
with the bank, the Preferred status on its
officials will be withdrawn.
2. Officials of the rank of General Manager
and Vice-Presidents in all companies having a
Corporate Banking relationship with the bank.
3. Key officials of Trusts/Societies/Ltd.
Companies restricted to a maximum of 3
such officials per relationship.
Note: Family members of deemed Preferred
customers cannot be included in the program.
Ongoing review of customers in the Preferred
program
The RM will counsel the customer at the end
of the first quarter. The objective of the counseling is to
know whether the customers met the criteria or not.
Ethnic codes
There will be separate ethnic codes track
Preferred customers and Deemed Customers.
Waivers and Flexi-Waivers
Waiver and Flexi-waiver will be at group level
Standard waiver will be RS 2000/ Higher waiver amount will be offered to large
value relationship, through exception sign-offs. These waivers will be based profitability of the
relationship and will be approved by the product
group in the format at