Anku IDBI

A
Project Study Report

On
customer satisfaction in IDBI BANK
FOR THE PARTIAL FULFILMENT OF THE DEGREE
Master of Business Administration

(Two years full time Management Course)
Date: (2011-2013)
UNDER THE SUBJECT

Project Study (M-404)
SUBMITTED BY:
ANKUR NAGPAL
MBA SEM-IV (2011-2013)
SUBMITTED TO:
SANDEEP VYAS
Faculty Of Management Studies
IIIM, JAIPUR
(Approved by AICTE and affiliated to Rajasthan Technical University)
DECLARATION
I, ANKUR NAGPAL, student of MBA SEM- IV (2011-2013) hereby declare that I

have completed a project under the subject PROJECT STUDY (M-404) on the topic
CURRENT ACCOUNT PRODUCT OF IDBI BANK IN COMPARISON WITH
OTHER BANKS for the partial fulfilment of the degree of MBA course. It is my
original work and It has not been copied from others.
PLACE:
DATE:
ANKUR NAGPAL
ACKNOWLEDGEMENT
I have taken efforts in this project. However, it would not have been possible without
the kind support and help of many individuals and would like to extend my sincere
thanks to all of them.
I am highly indebted to Mr. VIVEK ATOLIYA for their guidance and constant
supervision as well as for providing necessary information regarding the project &
also for their support in completing the project.
I would like to express my gratitude towards my parents & members of IDBI BANK
for their kind co-operation and encouragement which help me in completion of this
project.
I would like to express my special gratitude and thanks to industry persons for giving
me such attention and time.
My thanks and appreciations also go to my colleague in developing the project and
people who have willingly helped me out with their abilities.
Executive Summary
Banking Industry which is basically my concern industry around which my project
has to be revolved is really a very complex industry. And to work for this was really a
complex and hectic task and few times I felt so frustrated that I thought to left the
project and go for any new industry and new project. Challenges which I faced while
doing this project were following-
Banking sector was quite similar in offering and products and because of that
it was very difficult to discriminate between our product and products of the
competitors.
Target customers and respondents were too busy persons that to get their
time and view for specific questions was very difficult.
Sensitivity of the industry was also a very frequent factor which was very
important to measure correctly.
Area covered for the project while doing job also was very large and it was
very difficult to correlate two different customers/respondents views in a one.
Every financial customer has his/her own need and according to the
requirements of the customer product customization was not possible.
So above challenges some time forced me to leave the project but any how I did my
project in all circumstances. Basically in this project I analyzed the difference
between the various banks on the basis of current account product provided by
them.
TABLE OF CONTENTS
Page
S. NO.
Descriptions
No.
1.
Introduction to the industry
6-13
2.
Introduction to the Organization
14-59
3.
Research Methodology
60-63
1. Title of the Study

2. Duration of the Project
3. Objective of the Study
4. Types of Research
5. Collection Method and Sample Size
6. Scope of Study
4.
7. Limitation of Study
Facts and Findings
64
5.
Data Analysis and Interpretation
65-74
6.
Swot Analysis
75
7.
Conclusion
76-77
8.
9.
Recommendation and Suggestion

Appendix
78-80
81-82
10.
BIBLIOGRAPHY
83
INTRODUCTION TO INDUSTRY
Definition of Bank:
Banking means, Accepting deposits for the purpose of lending or investment of
deposits of money from the public, repayable on demand or otherwise and withdraw
by cheque, draft of otherwise.
-Banking Companies (Regulation) Act, 1949
ORIGIN OF BANKING:
Its origin in the simplest form can be traced to the origin of authentic history. After
recognizing the benefit of money as a medium of exchange, the importance of
banking was developed as it provides the safer place to store the money. This safe
place evolved in to financial institutions that accepts deposits and make loans i.e.,
modern commercial banks.
Banking system in India:

Without a sound and effective banking system in India it cannot have a healthy
economy. The banking system of India should not only be hassle free but it should
be able to meet new challenges posed by the technology and any other external and
internal factors.
For the past three decades Indias banking system has several outstanding
achievements to its credit. The most striking is its extensive reach. It is no longer
confined to only metropolitans or cosmopolitans in India. In fact, Indian banking
system has reached even to the remote concerns of the country. This is one of the
main reasons of Indias growth process.
History of Banking in India:

Banking in India has a very old origin. It started in the Vedic period where literature
shows the giving of loans to others on interest. The interest rates ranged from two to
five percent per month. The payment of debt was made pious obligation on the heir
of the dead person.
The government's regular policy for Indian bank since 1969 has paid rich dividends
with the nationalization of 14 major private banks of India. Not long ago, an account
holder had to wait for hours at the bank counters for getting a draft or for withdrawing
his own money. Today, he has a choice. Gone are days when the most efficient bank
transferred money from one branch to other in two days. Now it is simple as instant
messaging or dial a pizza. Money has become the order of the day.
The first bank in India, though conservative, was established in 1786. From 1786 till
today, the journey of Indian Banking System can be segregated into three distinct
phases.
They are as mentioned below:
Early phase from 1786 to 1969 of Indian Banks
Nationalization of Indian Banks and up to 1991 prior to Indian banking sector

Reforms.
New phase of Indian Banking System with the advent of Indian Financial &
Banking Sector Reforms after 1991.
To make this write-up more explanatory, I prefix the scenario as Phase I, Phase II
and Phase III.
Phase I
The General Bank of India was set up in the year 1786. Next came Bank of
Hindustan and Bengal Bank. The East India Company established Bank of Bengal
(1809), Bank of Bombay (1840) and Bank of Madras (1843) as independent units
and called it Presidency Banks. These three banks were amalgamated in 1920 and
Imperial Bank of India was established which started as private shareholders banks,
mostly Europeans shareholders.
In 1865 Allahabad Bank was established and first time exclusively by Indians, Punjab
National Bank Ltd. was set up in 1894 with headquarters at Lahore. Between 1906
and 1913, Bank of India, Central Bank of India, Bank of Baroda, Canara Bank, Indian
7
Bank, and Bank of Mysore were set up. Reserve Bank of India came in 1935.
During the first phase the growth was very slow and banks also experienced periodic
failures between 1913 and 1948. There were approximately 1100 banks, mostly
small. To streamline the functioning and activities of commercial banks, the
Government of India came up with The Banking Companies Act, 1949 which was
later changed to Banking Regulation Act 1949 as per amending Act of 1965 (Act No.
23 of 1965). Reserve Bank of India was vested with extensive powers for the
supervision
of
banking
in
india
as
the
Central
Banking
Authority.
During those days public has lesser confidence in the banks. As an aftermath
deposit mobilization was slow. Abreast of it the savings bank facility provided by the
Postal department was comparatively safer. Moreover, funds were largely given to
traders.
Phase II
Government took major steps in this Indian Banking Sector Reform after
independence. In 1955, it nationalized Imperial Bank of India with extensive banking
facilities on a large scale especially in rural and semi-urban areas. It formed State
Bank of India to act as the principal agent of RBI and to handle banking transactions
of the Union and State Governments all over the country.
Seven banks forming subsidiary of State Bank of India was nationalized in 1960 on
19th July, 1969, major process of nationalization was carried out. It was the effort of
the then Prime Minister of India, Mrs. Indira Gandhi. 14 major commercial banks in
the country were nationalized.
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 crore.
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 liberalisation 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.
The financial system of India has shown a great deal of resilience. It is sheltered
from any crisis triggered by any external macroeconomics shock as other East Asian
Countries suffered. This is all due to a flexible exchange rate regime, the foreign
reserves are high, the capital account is not yet fully convertible, and banks and their
customers have limited foreign exchange exposure.
Structure of banking system in India:
10
Scheduled Commercial Banks in India:

The commercial banking structure in India consists of:
Scheduled Commercial Banks in India
Unscheduled Banks in India
Scheduled Banks in India constitute those banks which have been included in the
Second Schedule of Reserve Bank of India (RBI) Act, 1934. RBI in turn includes only
those banks in this schedule which satisfy the criteria laid down vide section 42 (6)
(a) of the Act.
As on 30th June, 1999, there were 300 scheduled banks in India having a total
network of 64,918 branches. The scheduled commercial banks in India comprise of
State bank of India and its associates (8), nationalized banks (19), foreign banks
(45), private sector banks (32), co-operative banks and regional rural banks.
"Scheduled banks in India" means the State Bank of India constituted under the
State Bank of India Act, 1955 (23 of 1955), a subsidiary bank as defined in the State
Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959), a corresponding new bank
constituted under section 3 of the Banking Companies (Acquisition and Transfer of
Undertakings) Act, 1970 (5 of 1970), or under section 3 of the Banking Companies
(Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980), or any other bank
being a bank included in the Second Schedule to the Reserve Bank of India Act,
1934 (2 of 1934), but does not include a co-operative bank".
"Non-scheduled bank in India" means a banking company as defined in clause (c) of
section 5 of the Banking Regulation Act, 1949 (10 of 1949), which is not a scheduled
bank".
The following are the Scheduled Banks in India (Public Sector):
11
State Bank of India
State Bank of Bikaner and Jaipur
State Bank of Hyderabad
State Bank of Indore
State Bank of Mysore
State Bank of Saurashtra
State Bank of Travancore
Andhra Bank
Allahabad Bank
Bank of Baroda
Bank of India
Bank of Maharashtra
Canara Bank
Central Bank of India
Corporation Bank
Dena Bank
Indian Overseas Bank
Indian Bank
Oriental Bank of Commerce
Punjab National Bank
Punjab and Sind Bank
Syndicate Bank
Union Bank of India
United Bank of India
UCO Bank
Vijaya Bank
The following are the Scheduled Banks in India (Private Sector):
12
ING Vysya Bank Ltd
Axis Bank Ltd
Indusind Bank Ltd
ICICI Bank Ltd
South Indian Bank
HDFC Bank Ltd
Centurion Bank Ltd
Bank of Punjab Ltd
IDBI Bank Ltd
Jammu & Kashmir Bank Ltd.
The following are the Scheduled Foreign Banks in India:
American Express Bank Ltd.
ANZ Gridlays Bank Plc.
Bank of America NT & SA
Bank of Tokyo Ltd.
Banquc Nationale de Paris
Barclays Bank Plc
Citi Bank N.C.
Deutsche Bank A.G.
Hongkong and Shanghai Banking Corporation
Standard Chartered Bank.
The Chase Manhattan Bank Ltd.
Dresdner Bank AG.
INTRODUCTION TO THE ORGANIZATION
13
Company Profile
What interest rates does your current bank pay? Are you leaving significantly more
money in your checking account than you need to pay the monthly bills? Do you
know where the best interest rates are for a money market account? Have you
checked out the possibilities of online banking? Do you know where to find a list of
local ATMs that won't charge you any fees? Do you know the difference between
APY and APR?
"Hey, hey, wait a second," you're saying. "I just innocently clicked over to this area to
find out a little bit about my bank. I didn't expect the Spanish Inquisition." Well, as
others more comedically talented than ourselves have pointed out before, nobody
expects the Spanish Inquisition. But perhaps it's time that you put yourself through
the third degree. What's going on in the banking industry today shows that most
consumers are not giving their banking behavior much, if any, inquiry -- and the
consequences are significant. Just as brokers, credit card companies, the mutual
fund industry, and car dealers have been preying on consumers who don't know the
rules of the game, banks are counting on their customers not doing even the least
little bit of homework before opening an account.
Consider these facts:
More than $1 trillion is currently in low (or no) interest checking and savings
accounts.
14
ATMs currently charge fees as high as $5 for a single transaction. Banks make
more than $2 billion annually on ATM fees alone.
There is virtually no use at all today for the inappropriately named "savings"
account, yet it remains one of the most popular ways for Americans to store their
money.
Here at the Fool we've made a big deal for a long time about how mutual funds
underperform the market's indexed returns. Over the last 30 years, the average
managed equity mutual fund has trailed an S&P index fund's returns by about 2%
per year -- and that really bugs us. But, right now, the majority of money put into
checking and savings accounts is seeing a return that is closer to 3% less than what
is regularly available from equally insured and convenient accounts.
There are some good reasons that it is much, much more expensive to bank with the
PhirstCitiBancs whose commercials you regularly see on nationally televised sports
games. After all, there's a lot of marble that has to be hewn out of Italy, flown over on
the Concorde, and kept clean in those cavernous downtown branches where they
shoot those lovely commercials. Those powerful CEOs of the biggest banks also
need (need, we're telling you!) some very extravagant corporate jets. And don't
forget the cost of having a football stadium or sports arena named after a bank. If
you like seeing a stadium on ESPN's SportsCenter and being able to point at the
screen and say, "Hey, my checking account fees helped name that place!" -- by all
means, keep banking there and skip the tedious chore of wading through the rest of
our banking info. (We hope you'll stick around, though. We've kept this area as short
and sweet as possible.)
The games and tactics banks use to keep their customers in the dark about their
options are the same ones the Wise men of Wall Street and other financial industries
15
have been using to keep customers in the dark. Here are some signs that banks are
deep in the Wisdom racket:
The use of jargon to keep the customer confused.

Offering high introductory interest rates and then quietly lowering them.
Hiding the fees and costs in the small print.
Loudly proclaiming the value of expensive "personalized service."
As you peruse this section on banking, keep in mind that your ultimate goal with
banks should be to obtain the services and convenience you need, with the lowest
costs and the highest interest rates available. If you're ready to bank online, you'll
almost certainly find that the lowest costs and the highest interest rates are available
there.
If you aren't yet ready to give online banking a shot, and even if you are, the first
thing you need to do is identify your banking behavior and set some easy goals for
yourself.
IDBI Bank Ltd. is a Universal Bank with its operations driven by a cutting edge core
Banking IT platform. The Bank offers personalized banking and financial solutions to
its clients in the retail and corporate banking arena through its large network of
Branches and ATMs, spread across length and breadth of India. We have also set up
an overseas branch at Dubai and have plans to open representative offices in
various other parts of the Globe, for encashing emerging global opportunities.
As on March 31, 2011, the Bank had a network of 816 Branches and 1372 ATMs.
The Bank's total business, during 2010-11, reached Rs. 3,37,584 Crore, Balance
sheet reached Rs. 2,53,377 Crore while it earned a net profit of Rs. 1650 Crore (up
by 60 %).
16
Our vision for the Bank is for it to be the trusted partner in progress, by leveraging
quality human capital and setting global standards of excellence, to build the most
valued financial conglomerate. Our experience of financial markets helps us to
effectively cope with challenges and capitalize on the emerging opportunities by
participating effectively in our countrys growth process.
Profile of the bank:

IDBI Bank Ltd. is today one of India's largest commercial Banks. For over 40 years,
IDBI Bank has essayed a key nation-building role, first as the apex Development
Financial Institution (DFI) (July 1, 1964 to September 30, 2004) in the realm of
industry and thereafter as a full-service commercial Bank (October 1, 2004
onwards). As a DFI, the erstwhile IDBI stretched its canvas beyond mere project
financing to cover an array of services that contributed towards balanced
geographical spread of industries, development of identified backward areas,
emergence of a new spirit of enterprise and evolution of a deep and vibrant capital
market. On October 1, 2004, the erstwhile IDBI converted into a Banking company
(as Industrial Development Bank of India Limited) to undertake the entire gamut of
Banking activities while continuing to play its secular DFI role. Post the mergers of
the erstwhile IDBI Bank with its parent company (IDBI Ltd.) on April 2, 2005
(appointed date: October 1, 2004) and the subsequent merger of the erstwhile
United Western Bank Ltd. with IDBI Bank on October 3, 2006, the tech-savvy, new
generation Bank with majority Government shareholding today touches the lives of
millions of Indians through an array of corporate, retail, SME and Agriculture
products and services.
Headquartered in Mumbai, IDBI Bank today rides on the back of a robust business
strategy, a highly competent and dedicated workforce and a state-of-the-art
information technology platform, to structure and deliver personalized and innovative
Banking services and customized financial solutions to its clients across various
delivery channels.
As on March 31, 2010, IDBI Bank has a balance sheet of Rs.2.34 lakh crore and
business size (deposits plus advances) of Rs.3.06 lakh crore. As an Universal Bank,
17
IDBI Bank, besides its core Banking and project finance domain, has an established
presence in associated financial sector businesses like Capital Market and
Investment Banking, Home Finance, Primary Dealership area and more recently, the
Life Insurance Business. As a step towards taking the organization on a accelerated
growth path, the Bank has reorganized its businesses around nine verticals out of
which six customer verticals, each focusing on distinct customer segments and three
business verticals. Going forward, IDBI Bank is strongly committed to work towards
emerging as the 'Bank of choice' and 'the most valued financial conglomerate',
besides generating wealth and value to all its stakeholders.
18
Information on the Constitution of IDBI

Industrial Development Bank of India
Industrial Development bank of India (IDBI) was constituted under Industrial
Development bank of India Act, 1964 as a Development Financial Institution and
came into being as on July 01, 1964 vide GoI notification dated June 22, 1964. It
was regarded as a Public Financial Institution in terms of the provisions of Section
4A of the Companies Act, 1956. It continued to serve as a DFI for 40 years till the
year 2004 when it was transformed into a Bank.
Industrial Development Bank of India Limited

In response to the felt need and on commercial prudence, it was decided to
transform IDBI into a Bank. For the purpose, Industrial Development bank (transfer
of undertaking and Repeal) Act, 2003 [Repeal Act] was passed repealing the
Industrial Development Bank of India Act, 1964. In terms of the provisions of the
Repeal Act, a new company under the name of Industrial Development Bank of India
Limited (IDBI Ltd.) was incorporated as a Govt. Company under the Companies Act,
1956 on September 27, 2004. Thereafter, the undertaking of IDBI was transferred to
and vested in IDBI Ltd. with effect from the effective date of October 01, 2004. In
terms of the provisions of the Repeal Act, IDBI Ltd. has been functioning as a Bank
in addition to its earlier role of a Financial Institution.
Merger of IDBI bank Ltd. with IDBI Ltd.

Towards achieving the faster inorganic growth of the Bank, IDBI Bank Ltd., a wholly
owned subsidiary of IDBI Ltd. was amalgamated with IDBI Ltd. in terms of the
provisions of Section 44A of the Banking Regulation Act, 1949 providing for voluntary
amalgamation of two banking companies. The merger became effective from April
02, 2005.
Merger of United Western bank with IDBI Ltd.

The United Western bank Ltd. (UWB), a Satara based private sector bank was
19
placed under moratorium by RBI. Upon IDBI Ltd. showing interest to take over the
said bank towards its further inorganic growth, RBI and Govt. of India amalgamated
UWB with IDBI Ltd. in terms of the provisions of Section 45 of the Banking
Regulation Act, 1949. The merger came into effect on October 03, 2006.
Change of name of IDBI Ltd. to IDBI Bank Ltd.

In order that the name of the Bank truly reflects the functions it is carrying on, the
name of the Bank was changed to IDBI Bank Limited and the new name became
effective from May 07, 2008 upon issue of the Fresh Certificate of Incorporation by
Registrar of Companies, Maharashtra. The Bank has been accordingly functioning in
its present name of IDBI Bank Limited.
20
Branches / ATMs Network of IDBI
21
1) What is a current account?

This is an account where you can:
Deposit Put money in to a bank and
Withdraw take money out.
There are various ways to deposit money:
Depositing cash in coins and notes at a branch
Wiring from abroad
Sending a cheque in the post
Paying money in electronically.
A current account is an account for day-to-day use. Two or more people can set up a
current account together and call it a joint account. It works like a current account
except each person has a cheque-book and card.
Current account is a bank deposit that can be withdrawn by the depositor at any
time. The depositor is at liberty to operate this account any number of times in a day
unlike savings accounts where only limited transactions are allowed. This account is
opened by people who are engaged in trades, businesses and professions.
2) How do I choose a current account?

There will be a bank or building society current account to suit your particular needs.
You need to work out exactly what you want the account to do before you choose
and this will also then determine how you use the account too.
All banks and many building societies have a range of current accounts targeted at
those with specific needs or preferences. Types of current account are listed here:
22
Types of account include:
Standard Current Accounts cheque-books, cash and debit cards,

overdraft facilities and monthly or quarterly bank statements, often with
internet access and telephone banking facilities
Accounts with Extras such as travel insurance, roadside assistance, for a

small monthly fee. Can include medical support for a larger monthly fee.
Simple Cash Accounts no cheque-books or internet or overdraft facilities
Accounts for High Earners come with personally tailored options and a high
level of personal support from the bank
Childrens Accounts usually combined with savings accounts
Young Peoples Accounts
Student Accounts usually interest free overdrafts and free gift or cash
incentives for joining. Check out for lots of great help and advice about
student banking.
Graduate Accounts usually good interest rates on overdrafts, loans and

mortgages
Foreign Currency Accounts for those needing frequent transactions in a

currency other than sterling
Euro Accounts same as the above except with the Euro
Special Accounts which cater for particular religious beliefs so that normal
banking conveniences can be accessed without offending certain religious
practices
3) Who can have a current account?

Almost anyone can, depending on their credit history. People who have a bad credit
history due to not payment of outstanding bills and loans, county court judgments
against them or a history of fraud may find that they have fewer options open to
them.
23
4) Who can provide me with a current account?

All the main high street banks offer a range of current accounts. Many of the building
societies do also as well as most of the internet banks. A list of the main providers
can be found below.
5) How do I decide on the account for me?

You need to think carefully about what you need from your account.
Our simple account chooser questionnaire will help you narrow down the features
that you want your account to have. Once you have answered YES or no to all the
questions and submitted the form, you will be left with a useful checklist of features
you require that you can refer to when comparing different current accounts.
6) Who are the biggest beneficiaries of current accounts?

Ans. Current Accounts are designed for business needs and are primarily meant for
businessmen, firms, companies, public enterprises, etc. The only purpose is to
facilitate monetary transactions at every level of business.
7) Do current accounts bear interest?

Ans. No, Current accounts are non-interest bearing accounts.
8) Who are eligible to open a current account?
Ans. The current account can be opened by:

All resident Indians who are 18 or above in age
Individuals/Sole Proprietorships/Partnerships/Associations/Private and public
companies/Societies/Trusts/HUFs, etc.
9) Can I open a joint current account?

24
Ans. YES, current account can be opened either singly or jointly.
10)
What is the minimum deposit required for opening a current
account?
Ans. Banks require minimum deposit of Rs.5, 000 to Rs.50, 000 for opening a
current account. Generally, nationalized banks require less Minimum Deposit.
11)
How can I open a Current Account? What Documents are
required?
Ans. Opening a current account is quite simple. Fill the application form and support
it with relevant documents like proof of identity and residence. Additional required
documents may differ from case to case. For example, the documents in case of
sole proprietorship business will differ from those required in case of a private limited
company.
CURRENT ACCOUNT PRODUCT OF VARIOUS BANKS:
25
IDBI Bank current account
AIM BEHIND THE LOGO:

IDBI BANK-Green colour of logo is associated with prosperity which brings banking
for all, harmony and ambition of solving customers problem with full joy and also
with orange colour comprising the love and happiness.
Core Current Account:

No two businesses are the same, which is why at IDBI Bank; we offer different types
of Current Accounts to choose from, to our customers. The types of Current
Accounts that we offer are as follows:
Our Core Current Account is a straightforward and easy to use Current Account
designed to make even the smallest of business experience hassle free. The Core
Current Account comes loaded with a number of features, which include:
Free PAP (payable at par) cheque book
Free PAP utilization
Free Electronic Funds Transfer
Free Pay Orders and Demand Drafts
Free Demand Drafts on non-branch locations
Free home / non-home branch cash deposit
Free any branch cash withdrawal
Free Internet/ mobile/ Phone Banking and ATM services
Free other bank ATM transactions
26
Premium Current Account:

At IDBI Bank, you can expect state-of-the-art and innovative banking products and
services that will make banking a pleasant experience for you.
With the Premium Current Account you get:
Free PAP (payable at par) cheque book
Free PAP utilization
Free Demand Drafts on non-branch locations
Free home / non-home branch cash deposit
Free Cash/Cheque/Documents Pick-up and Delivery
Free Fire insurance up to Rs. 5 lakhs.
A dedicated Relationship Manager to help you service your account
Premium Special Current Account
27
The Premium Special Current Account offers innovative services and custom-made
solutions for all your business needs. It offers convenience and flexibility in account
operation. To help you manage your business, time and cash more effectively the
following Special privileges are offered:
Free Home / Non-Home Branch Cash Deposit
Free Payable at Par facility
Free Demand Drafts on non branch locations
Cheque Deposit and Cheque Return (Local and Outstation)
Free Cash/Cheque/Documents Pick-up and Delivery
Online Tax and Bill Payment
Free Fire and Burglary insurance up to Rs. 5 lakhs each.
A dedicated Relationship Manager to help you service your account
SBI Bank Current Account:

28

SBI BANK-White colour has always been a symbol of perfection and also it
represents Banks purity with blue colour promising faith and confidence to its
customers. Black colour in logo represents power of always being with customers
INTRODUCTION:
State Bank of India, India's largest bank was founded over two centuries ago and is
the flagship of Indian banking. Today the State Bank Group comprises of 21
Subsidiaries, 6 Joint Ventures and 39 Associates, along with SBI.
Is the only Indian bank in the elite group of Fortune 500 companies Have group
assets worth over 156 billion US dollars Has a group network of over 14000
branches We, are the bank of choice for Indians, be they living in Srinagar,
Kanyakumari, Ahmedabad or Shillong; and are one of the first Indian banks to
become technologically adept. All our branches are fully computerized and over
4500 branches are on the Core banking platform facilitating anywhere banking. Over
4200 branches are Internet enabled and offer online banking services to over 10 lakh
retail users and 42000 corporate users.
We have been a pioneer in NRI banking and have a presence in 30 countries across
all time-zones. With 73 foreign offices and correspondent banking relations with over
520 global banks, we serve the largest number of NRIs. Our remittance products are
unique and customized to suit the needs of NRIs wishing to send money home,
quickly and safely. With more than 3500 branches handling the NRI business, we will
ensure that your money reaches your loved ones well in time for any urgent needs. If
you intend to domicile your account or buy a property back home, you're not far from
an SBI branch. As NRIs, you can also enjoy Internet banking facilities and operate
your accounts across the country under "anywhere banking facility" through any of
the networked branches / ATMs.
29
SBI Current Account:

Opening a current account with State Bank of India will allow you to get ATM cum
Debit Card through which you could have access to the large network of ATMs all
over India. You can use the card to withdraw fast cash, make balance enquiry and
pay for goods and services at numerous establishments in the country. You can also
enjoy the added advantage of Internet Banking to better manage your account.
Other benefits of current account include low minimum balance requirements,
nomination facility, overdraft facility and transfer of accounts within the branches of
the bank
Minimum Account Opening Balance is Rs 10,000/- Current Accounts are non
interest bearing accounts
Benefits:
Card Convenience
Get your Free ATM cum Debit Card and have access to the widest network of ATMs
across the country to withdraw cash, enquire about your balance, etc. Moreover,
your card enables you to shop at a large number of Merchant Establishments in
India. You can also avail yourself of our International ATM-cum-Debit Card which can
be used within as well as outside India, at a nominal fee. (Free Up to 5 transactions
in a month in SB Account)
Easy and Wide Accessibility
Transact at your convenience, saving time and cost through SBI Internet Banking.
You can also withdraw cash from Maestro endorsed ATMs of other banks under
Multi-lateral sharing, at a nominal fee. (Free Up to 5 transactions in a month in SB
Account)
Monitoring Your Account
Monitor and control your funds through SBI Internet Banking or/ and through
Passbook/ statement of account facility.
Transaction Ease:
Unlimited number of payments
Make payments by giving us standing instructions
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Remit funds from any part of the country to your account.
Upcountry Cheque Collection facility.
Other Benefits:
Overdraft facility.
Transfer of accounts between our wide networks of branches.
Nomination Facility - Available.
Low minimum balance requirements
Most Important Terms & Conditions:

1.
Overdraft facility available based on credit history
2.
Free ATM / Debit Card in the 1st year; charge from 2nd year onwards.
3.
No restrictions on number of Payments / Withdrawals
4.
No interest paid on Deposits
5.
Transfer of account to any branch possible
6.
Account maintenance charge applicable
7.
No Passbook is issued but Statement of account is issued
8.
Nomination facility available
9.
KYC Norms of RBI to be followed for opening of Account
ICICI Bank Current Account:
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ICICI BANK Orange combines the energy of red and
the happiness of yellow. Orange colour of logo also
symbolizes that bank solves its customers problem with great passion, joy, and with
total care of the customer.
INTRODUCTION:
ICICI Bank is India's second-largest bank with total assets of Rs. 4,062.34 billion
(US$ 91 billion) at March 31, 2011 and profit after tax Rs. 51.51 billion (US$ 1,155
million) for the year ended March 31, 2011. The Bank has a network of 2,532
branches and 6,244 ATMs in India, and has a presence in 19 countries, including
India.
ICICI Bank offers a wide range of banking products and financial services to
corporate and retail customers through a variety of delivery channels and through its
specialised subsidiaries in the areas of investment banking, life and non-life
insurance, venture capital and asset management.
The Bank currently has subsidiaries in the United Kingdom, Russia and Canada,
branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and
Dubai International Finance Centre and representative offices in United Arab
Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. Our
UK subsidiary has established branches in Belgium and Germany.
ICICI Bank's equity shares are listed in India on Bombay Stock Exchange and the
National Stock Exchange of India Limited and its American Depositary Receipts are
listed on the New York Stock Exchange.
ICICI Bank Current Account in a part of ICICI bank business general banking
services. With the technological leadership ICICI Bank enjoys, it is capable of
offering a wide range of products to meet the financial needs of each client. The
most popular ICICI Bank Current Accounts include:
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Current Account:
ICICI Bank Current Account supports unlimited cash withdrawals and deposits
along with unlimited Cheque book facility. It is ideal for a businessman or
stockiest, joint stock companies or partnership firms, institutions, public
authorities or public corporations etc. the benefits of an ICICI Bank Current
Account include multicity cheques payment facility, DD and Pay Orders, funds
transfer, internet, mobile banking, anywhere banking, doorstep banking and
statements, advices, daily statements through e mails.
Roaming Account:
ICICI Bank Roaming Current Account comes with MCC and LCC services with
access to over 500 network branches of ICICI bank spread across the country.
The benefits of ICICI Bank Roaming Current Account are multi city Cheque,
upcountry Cheque, pay orders, demand drafts, and anywhere banking facilities.
You get a debit cum ATM card along with Internet banking, mobile banking and
doorstep banking facilities.
Made2Order Current Account:

In this current account, the customer is allowed to have total flexibility in QAB
(Quarterly Average Balance) that enables the Account is customer to have a
customized current account. Based on the QAB, ICICI bank offers various
facilities free of cost to the customer.
Escrow Account Service

The ICICI Bank Escrow Current ideal for lending, project financing, and buy-back
of shares, take-over, custody, litigations, purchase of plot or land, and more such
business activities. Cheque drawing and fixed deposits are not included in
escrow current accounts. It provides better security arrangements.
33
ICICI Current Account

1. Definitions:
In these terms and conditions, the following words and phrases have the meaning
stated Hereunder unless indicated otherwise:
a) Account refers to the Current Account that may be opened and held with an Ebor
Branch
b) Account Opening Form (AOF) refers to the respective relationship forms for
Current Account products available for Ebor customers.
c) Customer" refers to any person holding an Account with an Ebor branch.
d) Month" shall mean a month reckoned according to the British calendar.
e) Quarter shall mean a financial quarter i.e. April June, July September,
October December, January March in any financial year.
f) Services" shall mean the various services that may be provided by Ebor branches
in Connection with the Account and are more particularly referred to / described in
these Terms and on the website.
g) Services Directory shall mean and include the media by which details about the
Charges And the rates at which the services are provided for the respective types of
Account Available for customer's.
HDFC BANK Current Account:
34

HDFC BANK-Dark blue colour of logo represents knowledge, power and loyalty
towards the customers combining with the love of red and also that the bank fully
understands the customers need.
INTRODUCTION:
HDFC Bank has been recognized as "The Strongest Bank in Asia Pacific Region" by
The Asian Banker, outperforming 59 top tier banks across 13 countries.
Competing banks were rigorously evaluated on the six parameters which included
scale of assets, balance sheet growth of net loans & deposits, risk management of
bank operations, profitability and its sustainability, strength and credibility of loans
disbursed and liquidity of assets to meet negative events requiring cash outflow.
HDFC Bank scored 4 out of 5 points.
HDFC Bank, the second largest private sector bank in the country, has been
declared the "Strongest Bank in Asia Pacific". In a survey conducted by the Asian
Banker magazine, the bank won this honors, beating more than 50 banks across 13
countries in the Asia Pacific region.
The Top 10 has 3 banks each from India and China, 2 from Hong Kong, and one
each from Singapore and Australia, according to the magazine. Singapore's United
Overseas Bank (2nd), China's Shanghai Pudong Development Bank (4th), Bank of
Beijing (5th), China Construction Bank (6th), Industrial and Commercial Bank of
China (9th) and Commonwealth Bank of Australia (10th) are some of the prominent
names in the Top 10 list that has only two other Indian Banks, namely Axis Bank and
Punjab National Bank.
Despite achieving a loan growth of 160% between 2007 and 2010, HDFC Bank's
gross NPL ratio remained relatively constant and below 1.5%. This is in stark
contrast to HDFC Bank's private domestic peers' gross NPL of 2.6% in 2007 and
2.3% in 2010, the magazine observed.
35
Recognizing HDFC Bank's higher profitability the magazine said, with assets of
$49.4 billion at the end of March 2010, HDFC Bank was still able to achieve a
profitability of 1.6% (regional average 1.1%) in return on assets (ROA), driven
primarily by strong core-operating profit from improvement in loan disbursals and
margin, compared to the aggregated ROA of its domestic and regional peers of 1.0%
and 0.6% respectively. HDFC Bank has a very strong risk profile reflected by its low
volatility of returns (risk index of 98 vs. 38 regional average) and high capital
adequacy ratio (17.5% vs. 15.6% average)."
Accepting the award on behalf of the Bank, Aditya Puri, Managing Director, HDFC
Bank said, "In our industry, to be recognized as a strong bank is always an honor. To
emerge as the strongest bank amongst a peer group of all banks in the Asia Pacific
region, including some of the largest banks in the world, makes the recognition
particularly special."
Current account in HDFC Bank:

The powerful plus points of the HDFC Bank plus Current Account.
Features & Benefits:

Free Account to account funds transfer between HDFC Bank accounts
Free payment and collection through RTGS
Free payment and collection using NEFT
Free up to 50 Demand Drafts per month and can be issued from any HDFC Bank
Branch
Free up to 50 Pay Orders (PO) per month and can be issued from any HDFC Bank
Branch.
Free anywhere cheque collection (clearing) within HDFC Bank branch network up to
Rs.75 lacs per month
36
Free Outstation Cheque Collection through Speed Clearing (for instruments with
value up to Rs. 1 lakh).
Convenience to withdraw & deposit cash at all our branches
300 "At Par" cheques leave free per month. Free at par cheque payments across all
HDFC Bank locations for unlimited value
Free Cash Deposit up to Rs.10 lacs per month across all HDFC Bank Branches in
your city. What's more, Cash Deposit at HDFC Bank branches in other cities is also
free up to Rs.2 lacs per month
Register for Install Alert service and receive updates on your account as and when
the select transaction happens - all this without visiting the branch or ATM
Trade current account:

In today's changing business requirements, you need to transfer funds across cities,
and time is of the essence. HDFC Bank Trade Current Account gives you the power
of inter-city banking with a single account.
From special cheque that get treated at par with local ones in any city where we
have a branch, to free account to account funds transfer between HDFC Bank
accounts, to free inter-city cheque collection (through clearing) of up to Rs. 35 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
Your business needs a partner who can manage your finances while you concentrate
on growing your business.
You can avail benefits of inter-city banking account with Premium Current Account
that requires an average quarterly balance of only Rs. 25,000, offers Payable-At-Par
cheque book facility & FREE inter-city clearing transactions across our network up to
Rs.15 Lakhs per month.
A Current Account with the benefits of accessing your account from a large network
of branches, and through direct access channels - the phone, mobile, Internet and
through the ATM.
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Regular current account:

A Current account is ideal for carrying out day-to-day business transactions. With the
HDFC Bank Regular Current Account, you can access your account anytime,
anywhere, pay using payable at par cheques or deposit cheque at any HDFC bank
branch. It also facilitates FREE NEFT transactions & FREE RTGS collections for
faster collections in your account. Regular Current Account requires you to maintain
an average quarterly balance of only Rs. 10,000.
With a vast network of branches in cities all over the country, and access to a
multitude of ATM's, you can keep track of all your transactions anytime.
RFc domestic account:

Have you accumulated foreign currency from traveling abroad frequently? Received
gifts from relatives in foreign currency? Or earned it by any other means as approved
by the Reserve Bank of India?
If so, open Resident Foreign Currency Domestic Account and manage your foreign
currency efficiently. You can choose to set up your account either in US Dollar, Great
Britain Pound or Euro.
How to Open a RFC Domestic Account
Choose the currency in which you wish to operate.
Open your account with an initial amount as per the following-US Dollar = 250
| Great Britain Pound = 200 | Euro = 250 and maintain an Average Quarterly
Balance of the same amount.

Maintains a record of your foreign exchange transactions through monthly
statements.
38
Enjoy preferential rates when converting your foreign currency into Indian
Rupees.
Protects you from losing money due to exchange rate fluctuations.
Flexi current account:

HDFC Bank Flexi Current Account is the answer to your changing banking needs
during peak seasons.
With HDFC Bank Flexi Current Account your Cash Deposit and Anywhere
Transaction limits are a multiple of the balance you maintain in your Current Account.
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.
39
Enjoy dynamic free limits on Intercity Payments, Collections & Funds

Transfer as well as Cash Deposit at home location branches based on the
AMB maintained
Transaction
Cash Deposit at Home Branch Location
Anywhere Collections & Funds Transfer (except
Dahej)
Dynamic Free Limits*

Rs. 20,00,000 (10 times AMB)
Rs. 70,00,000 (35 times AMB)
Free RTGS/NEFT Transactions.
Free 40 Demand Drafts & Free 40 Pay Orders issued from any HDFC Bank
Branch
Insta Alert service - receive updates on your account as and when the select
transaction happens all this without visiting the Branch or ATM!
Apex Current Account:

The top position is always the coveted position. With the Apex current account, take
your business to a new high. On maintaining an average quarterly balance of Rs. 10
lakhs, this account makes sure you make the most of every business opportunities
coming your way. Unlimited, free, anywhere Banking experience at the APEX is
reserved for you.
Free Cash Deposit upto Rs. 100 lacs per month across all home branches
(subject to a maximum of 50 transactions per month and a per day limit of
Rs.1,00,000/- on cash deposit at a non home branch). What's more, Cash
Deposit at HDFC Bank branches in other cities is also free upto Rs.5 lacs per
month
500 free Payable At Par cheque leaves per month
40
Register for InstaAlert service and receive updates on your account as and
when the select transaction happens - all this without visiting the branch or
ATM!
Faster collection of outstation cheques through Speed Clearing. What's more

Speed Clearing is absolutely free with Apex Current Account.
Maximum transactional benefits with faster mobilisation of funds
Average quarterly balance requirement of Rs. 10,00,000/-
Max Current Account:

Presenting maximum benefits and minimum hassles for you with Max Current
Account! With a Rs. 5 lakhs average quarterly balance requirement, we present to
you a world of privileges that helps your business expand and grow. Features like
maximum free transaction limits including other beneficial features on this current
account truly enhances your business potential to the Maximum.

Maximum transactional benefits with faster mobilisation of funds
Average quarterly balance requirement of Rs. 5,00,000/ Access to more than 2000 branches
Huge cost savings in inter-city transactions for payable-at-par cheque
issuance, funds transfers, NEFT, RTGS or Demand Draft / Pay Order
Faster collection of outstation cheques

Free Account to Account funds transfer between HDFC Bank accounts
Free payment and collection through RTGS
Free payment and collection using NEFT
41
Free Demand Drafts which can be issued from any HDFC Bank branch
Free Pay Orders which can be issued from any HDFC Bank branch
Free anywhere cheque collection (through clearing) upto Rs. 3.5 Crore per
month within HDFC Bank branch network
Enjoy facilities like 24-hour PhoneBanking, NetBanking and InstaQuery that

helps you check your balance and transaction details, find out the status of
your cheque or stop cheque payment
Merchant Advantage current Account:

Presenting the HDFC Bank Merchant Advantage Current Account, designed to
drastically bring down the costs incurred and time taken to do various banking
transactions. With HDFC Bank Merchant Advantage Current Account, you can enjoy
a free limit for cash deposit that is four times the amount swiped at HDFC Bank's
EDC machine linked to your HDFC Bank Current Account. Now, get rewarded for
higher number of swipes on HDFC Bank EDC machine.
HDFC Bank is pleased to introduce the Merchant Advantage plus Current Account
an account that gives you much more than a regular Current Account. You can enjoy
a free limit for cash deposit that is four times the amount swiped at HDFC Banks
EDC machine linked to this Account. Save on your valuable time and costs for your
banking transactions with this account.
Enjoy a free monthly Cash Deposit limit* at your home branch location that is
four times the amount swiped at the HDFC Bank EDC Machine linked to the
Merchant Advantage Plus Current Account
Get free Regular and Business Debit Cards in the Merchant Advantage Plus
Current Account
Pay your vendors and suppliers across the country using multiple remittance
options such as Local/At Par cheques, Demand Drafts/Pay Orders/RTGS
42
(Real Time Gross Settlement) thereby increasing convenience and reducing

costs
Enjoy 24x7 access to your account through Net Banking, Phone Banking,
ATMs and Mobile Banking
Enjoy special privileges with Doorstep Banking services such as cash and
cheque pick-up and cash delivery at nominal rates
Get special offers on the Business Debit Card that comes with a host of
privileges and benefits
Make hassle-free utility bill payments with Bill Pay, which is absolutely free for
Merchant Advantage Current Account holders
Free monthly statement of accounts
Free balances and transaction alerts on your mobile phone and emails with
Insta Alert.
43
HSBC BANK Current Account:

HSBC BANK-Red colour in the logo symbolizes determination and love. Bank
promises to handle its customer with great love and affection. Black combines with it
the elegance of the bank making it worlds local bank for the customers
INTRODUCTION:
HSBC's origins in India date back to 1853, when the Mercantile Bank of India was
established in Mumbai. The Bank has since, steadily grown in reach and service
offerings, keeping pace with the evolving banking and financial needs of its
customers.
In India, the Bank offers a comprehensive suite of world-class products and services
to its corporate and commercial banking clients as also to a fast growing personal
banking customer base.
HSBC Group entities in India:
The Hong Kong and Shanghai Banking Corporation Limited (HSBC)
HSBC Asset Management (India) Private Limited
HSBC Global Resourcing / HSBC Electronic Data Processing (India) Private Limited
HSBC Insurance Brokers (India) Private Limited
HSBC Operations and Processing Enterprise (India) Private Limited
HSBC Private Equity Management (Mauritius) Limited
HSBC Professional Services (India) Private Limited
HSBC Securities and Capital Markets (India) Private Limited
HSBC Software Development (India) Private Limited
HSBC Invest Direct (India) Limited
44
Business Current Accounts - a range of business accounts for

every business
HSBC DIRECT for business:
Are you looking for simplicity, convenience and value from your business current
account? Then this just the account for you. HSBC DIRECT for business is a
zero-balance current account for your business that offers you the
convenience of banking 24x7 through Internet Banking, Phone Banking, ATMs
and
Mobile
Alerts.
Business Select account:

Commercial Banking with Business Select
Commercial Banking Partnership - Great partnerships lead to even greater rewards.
That is why we at HSBC Business Select work with you every step of the way.
Choose from a range of financial services and personalized commercial-banking
solutions that help you maximize your business potential. And give you the
recognition you deserve.
Preferential pricing on commercial Trade Services

As our valued customer, you can enjoy our local expertise and global reach in
handling your trade business, including a complete range of Business
Banking products that would facilitate you in all your export and import
transactions. These include Export and Import Collections, Documentary
Credit (or Letter of Credit) issuing, advising and confirming, negotiation of
your commercial Export Bills and Remittances. All this at specially discounted
prices.
FREE cashier's orders

Enjoy the benefit of free cashier's orders payable at any HSBC branch in
India.
45
Business Doorstep Banking

Transact from the comfort of your cabin with Business Doorstep Banking.
Cash, cheques and drafts can be picked up from or delivered to your office.
Preferential pricing on commercial foreign exchange rates

With our global network, we not only ensure that your foreign exchange
transactions are seamless but also provide you with preferential rates on all
your foreign exchange remittances routed through us.
No bounce cheque protection

Make commercial payments with complete peace of mind - Business Select
offers you a no-bounce limit of up to Rs. 2 Lakh on cheques issued from your
Business Select account.
FREE Internet Banking for Business

Manage your finances with ease. View your account statements, pay bills,
make drafts or transfer funds round the clock, from anywhere in the world.
FREE Business Phone Banking

Access your bank balances at your convenience, without actually stepping
into the Bank. All you need is a phone and you can transfer funds, pay your
suppliers, make fixed deposits, request a cheque book and much more.
FREE Commercial ATM card

Withdraw up to Rs. 200, 000/- per day with your special Business Select ATM
card at over 170 ATMs in India.
New debit card

You can now apply for a HSBC debit card which can be used as an ATM card
at any HSBC or Visa/Plus ATM across the world, as well as for making
payment at merchant establishments.
Cluster deposits
With cluster deposits, let your idle monies earn the interest rate of a fixed
deposit while allowing you access to your funds at any time. Ensuring the
best-possible returns as well as liquidity.
Smart Money Account

With the Smart Money Account, make your fixed deposits work for you. Avail
of an overdraft against your fixed deposits at attractive rates.
46
That's not all... fast path processing of requests, rapid cheque clearance, faster
remittances and much more benefits, leaving you with time and energy to focus on
your business.
Eligibility:
Business Select accounts need to maintain an average quarterly balance of INR
5,00,000.
Business Vantage Account:

When you need solutions for a growing business, choose the account that gives your
business a superior service advantage. With a flexible financial package that
includes a host of exclusive benefits and free services, Business Vantage Account
from HSBC puts your business completely at an advantage!
A Business Banking Account with Flexibility:

The Business Banking Account for growth. When you need solutions for a growing
business, choose the bank account that gives your business a superior service
advantage. With a flexible financial package that includes a host of exclusive
benefits and free services, Business Vantage Account from HSBC puts your
business completely at an advantage!
Business Vantage Account Features & Benefits:
Preferential pricing on Trade Services

As our valued customer, you can enjoy our local expertise and global reach in
handling your trade business, including a complete range of products that
would facilitate you in all your export and import transactions. These include
Export and Import Collections, Documentary Credit (or Letter of Credit)
issuing, advising and confirming, negotiation of your Export Bills and
Remittances. All this at specially discounted prices
47
Free cheques payable at par

With your Business Vantage account you get a 'cheques payable at par'
facility across 23 cities in India. So your cheques are locally cleared across
our branches, free of cost, making supplier payment problems a thing of the
past!
FREE cashier's orders

Enjoy the benefit of free cashier's orders payable at any HSBC branch in
India.
Business Doorstep Banking

No need to rush to the Bank for routine transactions. Let the Bank come to
you to pick up and deliver cash, collect cheques etc, allowing you to save
valuable time and money.
Preferential pricing* of foreign exchange rates

With our global network, we not only ensure that your foreign exchange
transactions and seamless but also provide you with a preferential rates on all
your foreign exchange remittances routed through us.
Special ATM withdrawal limit

You can now withdraw up to Rs. 1 Lakh per day from your Business Vantage
account.
New business debit card

You can now apply for a HSBC debit card which can be used as an ATM card
at any HSBC or Visa/Plus ATM across the world, as well as for making
payment at merchant establishments.
No bounce cheque protection

Make payments with complete peace of mind Business Vantage offers you a
no-bounce limit of up to Rs. 1 Lakh on cheques issued from your Business
Vantage account. For more information and an application form, please
contact your branch.
Cluster deposits
With cluster deposits, let the idle monies in your current account earn the
interest rate of a fixed deposit while allowing you access to your funds.
Ensuring returns as well as liquidity.
48
Free personalized business cheque book

As a Business Vantage customer, you will have the benefit of a free
personalized chequebook.
FREE Internet Banking for Businesses

Now view and download your account statements, pay bills make drafts or
transfer funds round the clock, from anywhere in the world.
FREE Business Phone Banking

Access your bank at your convenience, without actually stepping into the
Bank. That's not all - transfer funds, pay your suppliers, make fixed deposits,
request a cheque book and much more. All you need is a phone.
Eligibility:
Business Vantage accounts need to maintain an average quarterly balance of
INR 100,000.
Business Account:
The Business Account proposition is being discontinued wef 31st March 2008.
However existing customers availing the Business Account proposition shall
continue with features and service charges as applicable.

Multi-branch banking
Operate your current account from any branch in your city and perform select
transactions at any of our 42 branches and over 170 ATMs across the country.
Free special ATM card:

Withdraw up to Rs. 75,000 per day and access over 170 ATMs in India with
your special ATM card. In addition, you can also obtain a statement, transfer
funds between accounts, order cheque books, and deposit cheques and cash.
You can also deposit cheques or credit card payments at any time of the day
or night at our cheque deposit boxes located at all our ATMs.
49
Fast and efficient collection services:

We can clear upcountry cheques drawn on any location across the country,
though they have to be deposited at our branch locations. You can get
assured credit within a maximum of nine working days at about 150 locations
in the country. We have tie ups with correspondent Banks at close to 4000
locations from where we can ensure efficient realisation of cheques.
Free Phone Banking:

Access your bank balances 24 hours a day, 7 days a week at your
convenience, without actually stepping into the Bank. Besides this, transfer
funds, pay suppliers, make fixed deposits, request a chequebook and much
more. All you need is a phone.
Free Internet Banking for Businesses:

View and download your account statements, pay bills, make drafts or
transfer funds round the clock, from anywhere in the world.
Savings Account for employees:

Simplify salary payments by using Auto Pay to directly credit salaries to your
employees' accounts.
And that's not all - as a Business Banking customer you can invest in mutual
funds enjoy up to 48 days interest-free credit on an internationally-valid credit
card and convert your shares into electronic form with HSBC's depository
services.
50
Eligibility:
Business Accounts need to maintain an average quarterly balance of INR
25,000.
If your quarterly average balance falls below the
specified limit of Rs. 25,000, non-maintenance fees will apply.

Mutual Funds are subject to market risk. Please read the offer document
carefully before investing.
Convenient
Accessible 24x7 through Internet Banking, Phone Banking, ATMs and Mobile
Alerts.
Features and benefits:
Zero-balance Current Account
Zero charges for Demand Drafts / RTGS / NEFT through Internet banking
Zero charges for balance enquiry and cash withdrawals at over 23,000 VISA
ATMs across India
Zero time wasted with Rs. 200,000 daily cash withdrawal limit on your Debit
card
Zero worries with Doubly secure Internet Banking
Features and Benefits:

Zero-balance current account for your business
Zero charges:
Zero charges for Demand Drafts / RTGS / NEFT through Internet banking
Zero charges for balance enquiry and cash withdrawals at over 23,000 VISA
ATMs across India
Zero charges for collection/clearing of outstation cheques payable at HSBC

branch locations
51
Zero service charges on Bulk Salary/Supplier payment done through Internet

Banking
Zero charges for online utility bill payments
Zero charges for issuing multiple debit cards on your HSBC DIRECT for
business account - each with a limit that you can setup or change through
Phone Banking
Zero worries:
Zero worries with doubly secure Internet Banking - HSBC's Internet Security
Device doubles your online security
Zero worries with free Mobile Alerts service keeping you informed of account
activity
Zero worries about misuse of debit cards - setup individual transaction limits
on each debit card, and change these limits with a simple phone call
Zero worries about missed due dates- schedule multiple bill payments and
funds transfers in advance through Internet Banking
Zero time wasted:
Zero time wasted waiting to withdraw cash at the branch with Rs. 200,000
daily cash withdrawal limit on your Debit card
Zero trips to the branch with 24x7 access through Internet, Phone and over
23,000 VISA ATMs in India
Zero time wasted making multiple payments - make bulk salary / supplier
payments through Internet Banking
Zero time wasted standing in line to pay your bills - make utility bill payments
online for free
Zero waiting with free Instant Advices on the status of your import/export
transactions via email
Zero hassles:
Zero hassle Doorstep Banking available on request (at a charge)
52
Zero hassles with free online bill payment - no more missed due dates and
late payment charges
Zero hassle with multiple debit cards issued to your staff - each with a limit
that you can setup or change
Zero hassles of filling up forms at the branch to place a fixed deposit - place a
fixed deposit instantly through Internet Banking and update maturity
instructions online at your own conveniences
YES Bank Current Account

YES BANK-Blue colour represents power and also it is a symbol of understanding
and faith which means it understands its costumer and solve their problems and then
costumers can have faith in the bank. Red sign represents love, strength and a
confidence of right choice.
Introduction:
YES BANK is a state-of-the-art high quality, customer centric, service driven, private
Indian Bank catering to the Future Businesses of India and is an outcome of the
professional & entrepreneurial commitment of Rana Kapoor, Founder, Managing
Director & CEO. As the Professionals Bank of India, YES BANK has exemplified
creating and sharing value for all its stakeholders, and has created a differentiated
Banking Paradigm. Since inception, YES BANK has tried to play a catalytic role in
bridging the infrastructure and knowledge gap in various Sunrise sectors of the
economy. As part of the differentiated strategy, YES BANK has had a strong focus on
Development Banking, as is evident from the cutting-edge work that the Bank has
done in the area of Food & Agribusiness, Infrastructure, Microfinance, and
Sustainability which in most cases has been first-of-its kind in India. Our focus on
53
Governance and Good Corporate Citizenship, actualized through YES Banks

Responsible Banking approach, stands evidence to YES Banks strategic vision.
In a short span of 6 years, YES BANK has fructified into a Full Service Commercial
Bank that has steadily built Corporate and Institutional Banking, Financial Markets,
Investment Banking, Corporate Finance, Branch Banking, Business and Transaction
Banking, and Wealth Management business lines across the country, and is well
equipped to offer a range of products and services to corporate and retail customers.
YES BANK offers a full-range of client-focused corporate banking services, including
working capital finance, specialized corporate finance, trade and transactional
services, treasury risk management services, investment banking solutions and
liquidity management solutions among others to a highly focused client base. The
Bank also has a widespread branch network of over 200 branches across 149 cities,
with over 290 ATM's and 2 National Operating Centers in Mumbai and Gurgaon.
Since inception, YES BANK has adopted innovative and creative technologies that
facilitate robust systems and processes and facilitate in the delivery of world-class
banking solutions that significantly improve the business and financial efficiency of
our clients.
YES BANK has been recognized amongst the Top and the Fastest Growing Bank in
various Indian Banking League Tables by prestigious media houses and Global
Advisory Firms, and has received national and international honours for our various
Businesses including Corporate Finance, Investment Banking, Treasury, Transaction
Banking, and Sustainable practices through Responsible Banking.
54
TYPES OF CURRENT ACCOUNT:
Basic bank accounts
Packaged bank accounts
Opening a current account with a bank now comes with unlimited options. Paisa
Waisa now brings you in-depth comparison of a large number of bank current
accounts. Current accounts are the best option for all your business needs. Most
current accounts are now available with a debit card and online banking facilities.
Like a Savings Account, you can set up direct debits with your Current Account also.
Opening a current bank account is usually a straightforward process. Get diverse
options for opening a current account at the bank of your choice, as we bring to you
in-depth comparison details, such as minimum balance required, other T&C,
documents required and other minute details to help you choose the best option
suited to your needs. Current accounts are by far the best options for all your
business needs.
Current Account:
The YES BANK Current Account comes with an exhaustive range of benefits,
designed to help business growth. Our cutting-edge banking technology, combined
with our expert knowledge-based financial solutions, ensure not just efficient
transactions but also greater profits for business growth.
Focused Segment Products:

At YES BANK we have identified 12 focus segments whose growth potential can be
ably supported by YES BANKs Knowledge Banking approach. We believe
organizations in these sectors will have specific financial needs and demands a7nd
to cater to these specific needs, we have developed customized products with a
superior and customized service advantage to help maximize their potential.
Key Features of YES BANK Current Accounts:
55
dedicated
Relationship
Manager
for
each
of
our
customers.
A wide choice of variants allowing you to choose the type of Current Account
which
suits
your
business
requirements
and transaction
requirements
Free Demand Drafts & Pay Orders through YES BANK and our correspondent
bank's locations give access across more than 600 cities PAN India for payment
transactions
At-Par cheques that are accepted as local clearing cheques across our
branches, thus save on charges associated with ordering a demand draft
Flexible Cash Deposit limits
Merchant Acquiring Services and Solutions:
The Card Acceptance Services by YES Bank Ltd. is one of the latest additions in
the ever increasing gamut of products offered to
the retail/corporate merchants.
We have invested in building a robust infrastructure to enable smooth and reliable

acceptance of
payment through Cards on our EDC (Electronic Data Capture)
Terminals.
Currently we offer the facility to accept MasterCard, VISA Credit and Debit Cards
as well as American Express Cards We can service more than 180 locations
currently and are fast expanding our presence throughout India.
Cash Management Solutions:

Structured and customized Cash Management solutions to manage the
operational, administrative and regulatory activities of a corporate in a coordinated
and efficient manner. Our in-depth understanding of the business enables us to
partner in the growth of our customers.
Forex and Trade Finance Services:
At YES BANK, we provide our customers with a comprehensive suite of Trade and
Foreign Exchange Services which is backed by stringent Service Level Agreements
56
and turnaround times. Our strategic tie-ups with international correspondent

banks have helped us gain a global footprint.
Corporate Net Banking:

A State of the art electronic banking platform with real time online account access.
Free Instant Money transfer through National Electronic Funds Transfer (NEFT)
and Real Time Gross Settlement (RTGS) to over 65,000 Bank branches in India
Suring faster payments along with saving cost
Cash Pickup & Delivery:-[Get cash deposited or delivered at

doorstep]
The YES BANK Current Account comes with an exhaustive range of benefits,
designed to help business growth. Our cutting-edge banking technology, combined
with our expert knowledge-based financial solutions, ensure not just efficient
transactions but also greater profits for business growth.
Focused Segment Products:

At YES BANK we have identified 12 focus segments whose growth potential can be
ably supported by YES Banks Knowledge Banking approach. We believe
organizations in these sectors will have specific financial needs and demands and to
cater to these specific needs, we have developed customized products with a
superior and customized service advantage to help maximize their potential.
Key Features of YES BANK Current Accounts:
A
dedicated
Relationship
Manager
for
each
of
our
customers.
A wide choice of variants allowing you to choose the type of Current Account
which suits your
business requirements and
transaction requirements
Free Demand Drafts & Pay Orders through YES BANK and our correspondent
bank's locations give access across more than 600 cities PAN India for payment
transactions
57
At-Par cheques that are accepted as local clearing cheques across our
branches, thus save on charges associated wit ordering a demand draft
Flexible Cash Deposit limits
Merchant Acquiring Services and Solutions
Cash Management Solutions
Forex and Trade Finance Services
Corporate Net Banking
Doorstep Banking
Cash Pickup & Delivery
Business Account:
The Business Account proposition is being discontinued wef 31st March 2008.
However existing customers availing the Business Account proposition shall continue
with features and service charges as applicable.
Features & Benefits:Multi-branch banking

Operate your current account from any branch in your city and perform select
transactions at any of our 42 branches and over 170 ATMs across the country.
Free special ATM card
Withdraw up to Rs. 75,000 per day and access over 170 ATMs in India with your
special ATM card. In addition, you can also obtain a statement, transfer funds
between accounts, order cheque books, and deposit cheques and cash. You can
also deposit cheques or credit card payments at any time of the day or night at our
cheque deposit boxes located at all our ATMs.
58
Fast and efficient collection services

We can clear upcountry cheque drawn on any location across the country, though
they have to be deposited at our branch locations. You can get assured credit within
a maximum of nine working days at about 150 locations in the country. We have tie
ups with correspondent Banks at close to 4000 locations from where we can ensure
efficient realization of cheque.
Free Phone Banking:

Access your bank balances 24 hours a day, 7 days a week at your convenience,
without actually stepping into the Bank. Besides this, transfer funds, pay
suppliers, make fixed deposits, request a cheque book and much more. All
you need is a phone.
Free Internet Banking for Businesses:

View and download your account statements, pay bills, make drafts or transfer funds
round the clock, from anywhere in the world.
Savings Account for employees:

Simplify salary payments by using Auto Pay to directly credit salaries to your
employees' accounts.
And that's not all - as a Business Banking customer you can invest in mutual fund
enjoy up to 48 days interest-free credit on an internationally-valid credit card and
convert your shares into electronic form with HSBC's depository services.
59
The banking industry like many other financial service industries is facing a rapidly changing
market, new technologies, economic uncertainties, fierce competition and more demanding
customers and the changing climate has presented an unprecedented set of challenges .
Banking is a customer oriented services industry, therefore, the customer is the focus and
customer service is the differentiating factors .
The banking industry in India has undergone sea change since post independence. More
recently, liberalization, the opening up of the economy in the 90s and the government's
decision to privatize banks by reduction in state ownership culminated in the banking reforms
based on the recommendations of Narasimha Committee. The prime mover for banks today is
profit, with clear indications from the government to 'perform or perish'. Banks have also
started realizing that business depends on client service and the satisfaction of the customer
and this is compelling them to improve customer service and build up relationship with
customers.
The main driver of this change is changing customer needs and expectations. Customers in
urban India no longer want to wait in long queues and spend hours in banking transactions.
This change in customer attitude has gone hand in hand with the development of ATMs,
phone and net banking along with availability of service right at the customer's doorstep.
With the emergence of universal banking, banks aim to provide all banking product and
service offering under one roof and their endeavor is to be customer centric. With the
emergence of economic reforms in world in general and in India in particular, private banks
have come up in a big way with prime emphasis on technical and customer focused issues.
The purpose of this paper is to compare the public sector banks and private sector banks in
terms of customer satisfaction and to find out the various reasons of customer dissatisfaction
in these banks. The data was collected by getting the questionnaire filled by the respondents
who were using the banking services.
.
60
In the organised segment, banking system occupies an important place in nations economy. It
plays a pivotal role in the economic development of a country and forms the core of the
money market in an advanced country. The commercial banks in India comprise of both
Public sector as well as private sector banks. There are total 28 Public sector and 27 private
sector banks are functioning in the country presently. Banks have to deal with many
customers everyday and render various types of services to its customer.It's a well known fact
that no business can exist without customers.
Customer satisfaction, a business term, is a measure of how products and services supplied
by a company meet or surpass customer expectation. It is seen as a key performance indicator
within business. In a competitive marketplace where businesses compete for customers,
customer satisfaction is seen as a key differentiator and increasingly has become a key
element of business strategy. Customer satisfaction is an ambiguous and abstract concept and
the actual manifestation of the state of satisfaction will vary from person to person and
service to service. The state of satisfaction depends on a number of both psychological and
physical variables.
customers.
With the current change in the functional orientation of banks, the purpose of banking is
redefined. The main driver of this change is changing customer needs and expectations.
Customers in urban India no longer want to wait in long queues and spend hours in banking
61
transactions. This change in customer attitude has gone hand in hand with the development of
ATMs, phone and net banking along with availability of service right at the customer's
doorstep. With the emergence of universal banking, banks aim to provide all banking product
and service offering under one roof and their endeavor is to be customer centric. With the
62
LITERATURE REVIEW
Not so long ago, accessing our own money was about setting aside a couple of hours, getting
to the bank before closing time, standing in one queue to get a token and then in another to
collect the cash. Those were the pre-economic reforms days, when the banking sector
primarily
consisted
of
public
sector
banks.
Cut to the present day and the nature of banking has changed beyond recognition. With ATM
cards, simple banking transactions like withdrawing and depositing money are easier than
ever before. For the tech-savvy, there is the option of banking online. The next medium may
just
be
your
mobile.
Even when it comes to products, the changes have been many. Graduating from simple
savings accounts and fixed and recurring deposits, banks now offer a host of products like
special savings account and sweep-in-account, no frills accounts and easy receive account.
Private sector banks may have taken the lead, but public sector banks, with their vast client
base and unparalleled treasury of trust, are evolving their own brand of customer-friendliness.
Because satisfaction is basically a psychological state, care should be taken in the effort of
quantitative measurement, although a large quantity of research in this area has recently been
developed. Work done by Berry (Bart Allen) and Brodeur between 1990 and 1998 defined ten
'Quality Values' which influence satisfaction behavior, further expanded by Berry in 2002 and
known as the ten domains of satisfaction. These ten domains of satisfaction include: Quality,
Value, Timeliness, Efficiency, Ease of Access, Environment, Inter-departmental Teamwork,
Front line Service Behaviors, Commitment to the Customer and Innovation. These factors are
emphasized for continuous improvement and organizational change measurement and are
most often utilized to develop the architecture for satisfaction measurement as an integrated
model. Work done by Parasuraman, Zeithaml and Berry (Leonard L) between 1985 and 1988
provides the basis for the measurement of customer satisfaction with a service by using the
gap between the customer's expectation of performance and their perceived experience of
performance. This provides the measurer with a satisfaction "gap" which is objective and
quantitative
in
nature.
Work
done
by
Cronin
and
Taylor
propose
the
"confirmation/disconfirmation" theory of combining the "gap" described by Parasuraman,

63
Zeithaml and Berry as two different measures (perception and expectation of performance)
into a single measurement of performance according to expectation. According to Garbrand,
customer satisfaction equals perception of performance divided by expectation of
performance.
The usual measures of customer satisfaction involve a survey with a set of statements using a
Likert Technique or scale. The customer is asked to evaluate each statement and in term of
their perception and expectation of performance of the organization being measured.
The working of the customer's mind is a mystery which is difficult to solve and
understanding the nuances of what customer satisfaction is, a challenging task. This exercise
in the context of the banking industry will give us an insight into the parameters of customer
satisfaction and their measurement. This vital information will help us to build satisfaction
amongst the customers and customer loyalty in the long run which is an integral part of any
business. The customer's requirements must be translated and quantified into measurable
targets. This provides an easy way to monitor improvements, and deciding upon the attributes
that need to be concentrated on in order to improve customer satisfaction. We can recognize
where we need to make changes to create improvements and determine if these changes, after
implemented, have led to increased customer satisfaction. "If you cannot measure it, you
cannot improve it." - Lord William Thomson Kelvin (1824-1907).
MEASURING CUSTOMER SATISFACTION IN THE BANKING INDUSTRY
Introduction:
Banking operations are becoming increasingly customer dictated. The demand for 'banking
supermalls' offering one-stop integrated financial services is well on the rise. The ability of
banks to offer clients access to several markets for different classes of financial instruments
has become a valuable competitive edge. Convergence in the industry to cater to the changing
demographic expectations is now more than evident. Bancassurance and other forms of cross
selling and strategic alliances will soon alter the business dynamics of banks and fuel the
process of consolidation for increased scope of business and revenue. The thrust on farm
sector, health sector and services offers several investment linkages. In short, the domestic
economy is an increasing pie which offers extensive economies of scale that only large banks
will be in a position to tap. With the phenomenal increase in the country's population and
64
the increased demand for banking services; speed, service quality and customer
satisfaction are going to be key differentiators for each bank's future success. Thus it is
imperative for banks to get useful feedback on their actual response time and customer
service quality aspects of retail banking, which in turn will help them take positive steps to
maintain
competitive
edge.
The Need to Measure Customer Satisfaction:
Satisfied customers are central to optimal performance and financial returns. In many places
in the world, business organizations have been elevating the role of the customer to that of a
key stakeholder over the past twenty years. Customers are viewed as a group whose
satisfaction with the enterprise must be incorporated in strategic planning efforts. Forwardlooking companies are finding value in directly measuring and tracking customer satisfaction
(CS) as an important strategic success indicator. Evidence is mounting that placing a high
priority on CS is critical to improved organizational performance in a global marketplace.
With better understanding of customers' perceptions, companies can determine the actions
required to meet the customers' needs. They can identify their own strengths and weaknesses,
where they stand in comparison to their competitors, chart out path future progress and
improvement. Customer satisfaction measurement helps to promote an increased focus on
customer outcomes and stimulate improvements in the work practices and processes used
within the company.
65
When buyers are powerful, the health and strength of the company's relationship with its
customers its most critical economic asset is its best predictor of the future. Assets on the
balance sheet basically assets of production are good predictors only when buyers are
weak. So it is no wonder that the relationship between those assets and future income is
becoming more and more tenuous. As buyers become empowered, sellers have no choice but
to adapt. Focusing on competition has its place, but with buyer power on the rise, it is more
important to pay attention to the customer.
Customer satisfaction is quite a complex issue and there is a lot of debate and confusion
about what exactly is required and how to go about it. This article is an attempt to review the
necessary requirements, and discuss the steps that need to be taken in order to measure and
track customer satisfaction.
What constitutes Satisfaction?
The meaning of satisfaction: "Satisfied" has a range of meanings to individuals, but it
generally seems to be a positive assessment of the service.
The word "satisfied" itself had a number of different meanings for respondents, which
can be split into the broad themes of contentment/happiness, relief, achieving aims,
achieving aims and happy with outcome and the fact that they did not encounter any
hassle:
Happy
- Content
- Happy, pretty happy, quite happy
- Pleased
- Walked out of there feeling good
- Walk out of there chuffed
- Grateful the service has been OK
Relieved
- Thank God for that
- Phew
66
- At ease
- Can relax
- Stress reduction
- Secure
- Safe
- Go to the bank with a troubled mind and they sort it out for you
- Sleep at night without worrying what's going to go on
- Everything is sorted out in your mind and you're happy
- Secure, you know the money has been sorted out
- Knowing the money's going to be there
Achieving aims
- Achieving your aim or goal
- Getting what you went in for
- Achieve whatever it is you wanted to achieve
- Come away with a proportion of what you want
- Got what wanted in the end
- Got what you went down for
- Everything went according to plan, the way it should have done
- Met expectations
- To be unsatisfied is when you come out and you are still on the same level as you were
before
Achieving aims, and happy with outcome
- Happy with the results
- Happy with what you've got
- When you walk out you're happy they've sorted everything out and quickly
- Happy with outcome
- Pleased with what's happened
- Content with what's been done for you
- A feeling of happiness having achieved your goal
- You go in there feeling down and the only way you are going to come out satisfied is if they
have been good to you
67
No hassle
- Not frustrated
- Everything goes smooth
- No hassle
- No problems
- No hassle getting there
- Straightforward
Clearly then there is some variation in understanding of the term. Some of the interpretations
fit with the definitions used in much of the service quality and satisfaction literature, where
satisfaction is viewed as a zero state, merely an assessment that the service is adequate, as
opposed to "delight" which reflects a service that exceeds expectations. However, most
respondents have more positive interpretations of the term. These questions allow us to
identify priorities for improvement by comparing satisfaction with stated (overt) importance,
comparing satisfaction with modeled (covert) importance (from identifying key drivers of
overall satisfaction), as well as respondents' own stated priorities.
Service Quality and Customer Satisfaction:
There is a great deal of discussion and disagreement in the literature about the distinction
between service quality and satisfaction. The service quality school view satisfaction as an
antecedent of service quality - satisfaction with a number of individual transactions "decay"
into an overall attitude towards service quality. The satisfaction school holds the opposite
view that assessments of service quality lead to an overall attitude towards the service that
they call satisfaction. There is obviously a strong link between customer satisfaction and
customer retention. Customer's perception of Service and Quality of product will determine
the success of the product or service in the market.
If experience of the service greatly exceeds the expectations clients had of the service then
satisfaction will be high, and vice versa.. In the service quality literature, perceptions of
service delivery are measured separately from customer expectations, and the gap between
the two provides a measure of service quality.
Expectations and Customer Satisfaction:
68
Expectations have a central role in influencing satisfaction with services, and these in turn are
determined by a very wide range of factors lower expectations will result in higher
satisfaction ratings for any given level of service quality. This would seem sensible; for
example, poor previous experience with the service or other similar services is likely to result
in it being easier to pleasantly surprise customers. However, there are clearly circumstances
where negative preconceptions of a service provider will lead to lower expectations, but will
also make it harder to achieve high satisfaction ratings - and where positive preconceptions
and high expectations make positive ratings more likely. The expectations theory in much of
the literature therefore seems to be an over-simplification.
69
BANKING INDUSTRY : AN OVERVIEW
70
For centuries banks have played an important role in in fnancial system of the country. The
vital role continues even today although the form of banking have changed today with
changing need of the economy and individuals. With expansion of trade and commerce, the
concept of banking gained importance. The of banking transcended from individuals to
groups and later to companies. During the Moghul period the indigenous bankers played a
very important role in lending money and financing foreign trade in India. During British rule
the agency houses carried on the banking business. The Banking system in India has three
tiers. There are scheduled commercial banks; the regional rural banks; and the cooperative
banks. The scheduled commercial banks constitute those banks which are included in the
second schedule of RBI Act 1934.
OBJECTIVE OF THE STUDY
71
The objective of this study is to compare the public sector banks and private sector banks in
in these banks
SCOPE OF THE STUDY
The scope of the study is confined in comparing the Public sector and private sector banks in
terms of customer satisfaction. The study will be undertaken on the basis of sample survey.
Sample and data collection
This survey was conducted in the context of banking services. 50 percent of the data were
collected in face-to-face interviews of customers coming to banks. For the remaining 50
percent, the data were collected by visiting the customers homes. The study provides a
representative sample of various banks customers in Delhi only.
Research design
The research design would be descriptive and cross sectional
Data collection
The data would be collected from primary source through questionnaires and interviews.
Sample size
The sample would be selected on random basis. A sample of 50 respondents would be
72
Used in the research.

Data Sources
Both Secondary and Primary Sources of data will be used.
The major type of information used is primary data. This is done thru primary survey. The
literature review is a secondary data type. The sources include books, periodicals, websites,
printed literature etc.
73
RESEARCH METHODOLOGY:
NEED OF THE STUDY:
The need of the study arises because of the reason that a trainee must understand
the company, its achievements and tasks, products and services and also to collect
information about its competitors, its products and services offered. So that, after
understanding and collecting information about the organization and its competitors,
a trainee will be able to work well for the organization.
From the study I have learned very much, about the company as well as the strategy
of the customers, which helps me a lot at my working days.
Scope:
1. This study would be useful to other students as a secondary data.
2. This study would be useful to form strategies according to perception of student
about more need to manager or entrepreneur.
Duration of the Project:

Project study which is being conducted by me for the last fourty five day is not
only a formality for the fulfillment of the two year full time Post Graduate
Degree in Business Management. But being a management student and a
good employee I tried my best to extract best of the information available in
the market for the use of society and people. The objectives have been
classified by me in this project form personal to professional, but here I am not
74
disclosing my personal objective which has been achieved by me while doing

the project.
Objectives:
1) Continuous meet and deal with customer.
2) Back of work.
3) To analyze that what the level of customer business using the current
account.
4) Successful Handel the MIS work of bank
5) Handling the grievance.
6) Team work.
7) To know about the awareness of people about banking facilities
8) To analyze the market share of IDBI bank in Jaipur district
Research design:
Research design is the arrangement for condition for data collection and analysis of
data in a manner that aims to combined relevance to research purpose with
economy in procedure.
A Research design is a master plan or model for the conduct of formal investigation.
It is blue print that it is fallowed in completing study. The research conducted focused
on fact finding investigation in a well structured form and is based on primary data.
Sources of data collection:

For the purpose of project data is very much required which works as a food for
process which will ultimately give output in the form of information. So before
mentioning the source of data for the project I would like to mention that what
type of data I have collected for the purpose of project and what it is exactly.
Primary Data
75
Primary data are those which are collected a fresh and for the first time
thus
happen to be original in character. Under this PRIMARY DATA
COLLECTION,
we used as QUESTIONNAIRE to collect data.
Secondary Data
Secondary Data are those which have already published by someone else and
which have already passed though the statistical process. Under this study we
used MAGAZINES and DATA THROUGH INTERNET SOURCE to collect the
data.
Tools and Techniques:

As no study could be successfully completed without proper tools and
techniques, same is with my project. For better presentation and right
explanation I used tools and statistics and computer very frequently.
Basic tools which were used were:

a) Pie charts
b) Tables
Technological tools used were:
a) MS-Excel
b) MS- Word
76
Research Instrument:
Pre- structured questionnaire was prepared consisting of both closed-ended
questions and open-ended questions for general public.
Sampling Technique:
I.
Random sampling: for public
II.
Sample for 100 people was selected
Statistical analysis:
as done with the help of data collection and presented in the form of bar
graphs and pie charts.
Details:
Size of the data: 100
Area of study: Jaipur district
Type of data: Primary data
Industry : Banking
Responses: General public
Limitations of the study:

a) People are not aware about banking facilities.
b) The time constraint was one of the major problems.
77
c) Any small size of 100 respondents may not be representative of the universe.
d) The respondent bias might have crept in while filling the questionnaires.
e) Extreme variability in MARKET
FACTS & FINDINGS:

1. IDBI is having good brand image in the minds of customers.
2. Initial deposits in open new account is high to other banks.
3. Loan rate are very high comparison with other banks.
78
4. Rate of fixed deposit is low as compared to private sector competitor.

5. Provide free services for transaction through ATM to other banks.
6. Most of the customers are not aware of the products of IDBI current account.
7. Online transaction are considered to be a convenience factor.
8. Overall the facilities provided by the bank are good in the opinion of the
people.
9. Network of IDBI is not very vast compared to other banks. The reason behind
this is the limited number of branches of IDBI in Jaipur district.
10. Interest rate on credit card is very high
11. Advertising done by IDBI bank is also very less as compared to its private
sector competitor ICICI bank
79
customers.
.
80
physical variables.
customers.
81
LITERATURE REVIEW
primarily
consisted
of
public
sector
banks.
just
be
your
mobile.
82
quantitative
in
nature.
Work
done
by
Cronin
and
Taylor
propose
the

performance.
83
Introduction:
maintain
competitive
edge.
84
within the company.
85

hassle:
Happy
- Content
- Pleased
Relieved
- Phew
- At ease
- Can relax
- Stress reduction
- Secure
- Safe
Achieving aims
86

- Met expectations
before
No hassle
- Not frustrated
- No hassle
- No problems
- Straightforward
87
88

89

in these banks
SCOPE OF THE STUDY
90
Research design
Data collection
Sample size
Data Sources
91
92
DATA ANALYSIS AND INTERPRETATIONS

Customers feedback on banking services in different banking
sector
In Jaipur:
Q1. In which sector would you prefer banking?
Sector
response
a) Private
48
b) Public
52
c) Foreign
_
response
private
public
forgien
93
Q2.which banking sector provides most customers friendly products?

Sector
response
a) Private
64
b) Public
36
c) Foreign
94
Q3. Which sector provides prompt customer friendly product?

Sector
response
a) Private
70
b) Public
24
c) Foreign
95
Q4. On the basis of hidden charges, which banking will you prefer?
Sector
response
a) Private
14
b) Public
66
c) Foreign
20
96
Q5. Where do you rank your current bank as rank banking services?
Rank
per
a)
b)
28
33
c)
15
d)
14
e)
10
97
Q6. Are you satisfied with your banking sector services?

a)
Satisfied
52
b) Partially Satisfied
36
C) Very much Satisfied
12
98
Q7. Perception of IDBI as a bank

TYPE ON BANK
RESPONSES
Private
14%
Public
22%
Private/ public
48%
Dont know
16%
99
Q8 . Rating of customers for IDBI on several parameters as a good bank:

PARAMETERS
Efficiency
Internet Banking/ ATMs
RESPONSES
75%
25%
Product Range
95%
Network
33%
Phone Banking
22%
100
Q9. Factors responsible for the performance of IDBI BANK

PARAMETERS
PRODUCT
ADVERISMENT
MANPOWER
NET BANKING
PHONE BANKING
INVESTMENT SCHEME
NETWORK
% OF SHARE
50
5
25
2
5
10
3
101
Q10. On the basis of current a\c product and services, which is your preferable
bank?
Sector
response
a) Private
35
b) Public
65
c) Foreign
102
EXECUTIVE SUMMARY
satisfaction and their measurement. In the organised segment, banking system occupies an
important place in nations economy. It plays a pivotal role in the economic development of a
country and forms the core of the money market in an advanced country. The commercial
banks in India comprise of both Public sector as well as private sector banks. There are total
28 Public sector and 27 private sector banks are functioning in the country presently. Banks
have to deal with many customers everyday and render various types of services to its
customer.It's a well known fact that no business can exist without customers.
primarily
consisted
of
public
sector
banks.
103
customers.
.
104
physical variables.
customers.
105
LITERATURE REVIEW
106
primarily
consisted
of
public
sector
banks.
just
be
your
mobile.
quantitative
in
nature.
Work
done
by
Cronin
and
Taylor
propose
the

performance.
107
Introduction:
maintain
competitive
edge.
108
within the company.
109
hassle:
Happy
- Content
- Pleased
Relieved
- Phew
- At ease
- Can relax
- Stress reduction
- Secure
- Safe
110
Achieving aims
- Met expectations
before
No hassle
- Not frustrated
111
- No hassle
- No problems
- Straightforward
112
113
114

115

in these banks
SCOPE OF THE STUDY
Research design
116
Data collection
Sample size
Data Sources
DATA ANALYSIS
117
Public sector banks
VERY
HIGHLY
DISSA
T
DISSAT
SATISFIE
VERY
SATISFIE
NOT USING
SAT
SERVICE
MOBILE
BANKIN
G
BRANCH
0%
0%
0%
0%
0%
100%
4%
8%
60%
28%
0%
0%
0%
0%
0%
0%
0%
100%
BANKIN
G
INTERNE
T
BANKIN
G
ATM
20%
BANKIN
G
(SERVICE
0%
0%
52%
28%
0% N/A)
Private Sector Banks
VERY
VERY
DISSAT DISSAT SATISFIED SAT
HIGHLY NOT USING

SAT
SERVICE
MOBILE
BANKING
BRANCH
0%
0%
20%
4%
0%
76%
BANKING
INTERNE
0%
0%
36%
60%
4%
0%
0%
0%
16%
12%
0%
72%
T
BANKING
118
ATM
BANKING
0%
0%
36%
48%
16%
0%
76% of the customers are not using moble banking in private sector banks whereas
100% of the customers are not using the mobile banking in public sector banks.
100% of the customer of private sector banks are satisfied with the behaviour of the
staff out of which 40% are very satisfied and 20% are highly satisfied. Whereas 68%
of the customers of public sector banks are satisfied with the behaviour of the staff out
of which 20% are very satisfied
28% of the customers are using internet banking in private sector banks and all are
satisfied with the service whereas in public sector banks no customer is using the
internet banking
80% of the customers are using ATM banking in public sector banks and rest 20% are
not using because this service is not provided by their banks (e.g. Union Bank of
India) whereas 100% of the customers are using ATM banking in private sector banks
out of which 36 % are satisfied; 48% are very satisfied and 16% are highly satisfied.
This shows a very high rate of customer satisfaction level in Private sector banks
In public sector banks 52% 0f the customers are satisfied and 28% are very satisfied
with ATM banking whereas in private sector banks 48 % of the customers are very
satisfied and 16% of the customers are highly satisfied with the service.
119
FINDINGS
Customer satisfaction level is higher in Private sector banks as compared with the Public
Sector Banks
Reasons of Dissatisfaction in Public sector banks
Behaviour and attitude of the staff in public sector banks is the first reason of
customer dissatisfaction.
120
Time taken to process the transaction is the second reason of customer dissatisfaction.
Many of the services are not provided by the Public sector banks when compared with
the Private sector banks e.g. ATM Banking is not provided by Union Bank of India.
Internet Banking and Mobile banking is also not provided by many of the Public
sector banks.
Continuous services are not provided by ATM machines installed by various Public
sector banks.
121
RECOMMENDATIONS
The staff should be adequately trained to deal with the customer on one to one basis.
Many public sector banks need to revive their infrastructure to have pace with the
competing environment.
Many of the services needs improvement in public sector banks e.g. ATM facilities.
Staff should be adequately trained to encourage face to face dealing.
Staff should be friendly and approachable.
Clearly defined customer policy should be adopted by the banks.
Customers needs should be anticipated in advance so that they can be helped out in a
better way.
Treat your customers like your friends and they'll always come back.
Honour your promises.
LIMITATIONS OF THE STUDY
122
This study is geographically restricted to Delhi city only.
The sample size is small due to the specified reasons.
Finding are based on sample survey through questionnaires method.
Hence there is a scope for the respondents to be biased or pretentious
123
BIBLIOGRAPHY
C R Kothari Research methodology
P N Varshney Banking law and Practice
Customer satisfaction in Indian banking: a case study of Yamuna Nagar
District in Haryana
Political Economy Journal of India , Jan-June, 2008 by Raj Kumar
Customer Satisfaction Key Growth to Banks : An article from The Hindu
Article on customer relationship management in banking sector by Dr FB
Singh
Article on Measuring Customer Satisfaction in The Banking Industry By Dr
Manoj Kumar Das
Internet websites:
www.google.com
www.rbi.gov.in
www.iba.org.in
http://en.wikipedia.org/wiki/Customer_satisfaction
124
QUESTIONNAIRE
Dear Respondent,
I am a student of University School of Management Studies (GGSIP University) and
doing MBA (Banking and Insurance). I have undertaken a project for which I intend to pose
a questionnaire aimed at comparing the customer satisfaction in public sector bank and
private sector banks.
Your cooperation is deeply solicited to provide the relevant information. I assure that
information will be kept confidential.
Name of Customer _______________
Mobile No.______________
Name of the bank and type of account_______________________________________

Please answer the questions and tick at the place that matches your opinion.
Mobile/Tele Banking
How would you describe your views about Customer Service Representatives? Please tick in
the appropriate column.
(1:Very Disstisfied/2:Dissatisfied/3:Satisfied/4:Very satisfied/5:Highly Satisfied), specify the
reason if not using the service
1
Call answering time

Flawless/correct operations
Understanding and replying queries correctly
Communication skills/positive approach
General assessment about the service
Branch Banking
How would you descrive your views about Branch Banking? Please tick in the appropriate
column.
(1:Very Disstisfied/2:Dissatisfied/3:Satisfied/4:Very satisfied/5:Highly Satisfied)
1
Behavior of the staff

Time taken to process the transaction
Working Hours
General assessment about the services provided by the branch
Internet Banking
How would you describe your views about Internet Banking services? Please tick in the
125
appropriate column.
Page setup/Menu flow

Ease of use/navigation
Speed of page loading
Variety of transactions
ATM Banking
How would you describe your views about ATM Banking services? Please tick in the
appropriate column.
1
ATM network distribution

Continuous service
Variety of transactions
Easy of screen use
126
SWOT ANALYSIS
SWOT of IDBI:
STRENGHTS:
A well diversified customer profile, including blue chip companies, SMEs, high
net worth individual, retail customers, trusts, self help groups, etc.
A strong capital base with a capital adequacy ratio of 11.31% well above the
regulatory minimum of 9% which ensures that it is well placed for growth of
business.
127
IDBI has been a robust builder and has helped erect many reputed institutions
like EXIM, SIDBI, NSE, CARE etc.
The value of Nonperforming assets as a percentage of net advances has

decreased rapidly.
WEAKNESS:
No doubt the NPA has decreased, but still it is higher if compared to other banks.
Conclusion: IDBI NPA stands at 0.92% which is greater than PNB, Axis, HDFC and
YES bank which shows that IDBI still has to put a lot of effort in order to save itself
from the burden of NPA.
OPPORTUNITIES:
Indian economy is the worlds second largest growing economy in the world
and it has created a lot of opportunities for the banking industry.
IDBI being a public sector bank has excelled in all the spheres. It has the
confidence of individuals to big business house which no other bank has on
its side.
THREATS:
Increased competition from foreign banks, which has already has made its presence
felt in the financial services segment.
Aware to customer about bank product
Conclusion:
At last I would like to conclude that current account is mainly beneficial for business
purpose.As it provides lots of benefits for their business.
Current account enables businessmen to conduct his business transactions
smoothly.
The businessmen can withdraw any amount at any time from their current accounts.
There are also no restrictions on withdrawals.
The businessmen can make direct payment to their creditors with the help of
cheques. The bank collects money on behalf of its customers and credits the same
128
to their accounts. Current account enables the account holder to obtain overdraft
facility.
In my study I observed current account in SBI Bank, saving time and cost through
SBI Internet Banking. You can also withdraw cash from Maestro endorsed ATMs of
other banks under Multi-lateral sharing, at a nominal fee And given the many benefits
to customer. Such as Unlimited number of payments. Make payments by giving us
standing instructions. Remit funds from any part of the country to your account.
Upcountry Cheque Collection facility.
In my study it observed the HDFC plus current account is also one of the best option
as in today fast paced world our business regularly requires us to receives & send
funds to various cities in the country. HDFC bank plus current account guides us the
power of intercity banking with a single account & access to move than 996 cities.
HDFC current account also provides many more benefits likes Free inter-city
clearing between HDFC Bank branch locations up to Rs.100 lakhs per month. Free
Accounts to account funds transfer between HDFC Bank accounts, inter-city. Free
up to 50 Pay-orders per month Free up to 50 demand-drafts per month. Free RTGS
& NEFT Transactions
IDBI is current account is also very good current account as it provides many
beneficial services for business purpose. IDBI core current account or premium
special account provides many faculties to customer.
ICICI Bank current account a part of ICICI bank ebusiness general banking
services. With the technological leadership ICICI Bank enjoys
.
The ICICI Bank Escrow Current ideal for lending, project financing, and buy-back
of shares, take-over, custody, litigations, purchase of plot or land, and more such
business activities. Cheque drawing and fixed deposits are not included in
escrow current accounts. It provides better security arrangements.
In HSBC Bank many types of current account those popular in customer but
HSBC DIRECT for business and business vantage account mostly preferred by
customer
129
In business vantage account need solutions for a growing business, choose the
account that gives your business a superior service advantage. With a flexible
financial package that includes a host of exclusive benefits and free services,
Business Vantage Account from HSBC puts your business completely at an
advantage
YES bank Basic bank accounts & packaged bank accounts provide to customers
YES Bank Current Account comes with an exhaustive range of benefits,
designed to help business growth. Our cutting-edge banking technology,
combined with our expert knowledge-based financial solutions, ensure not just
efficient transactions but also greater profits for business growth.
To enable the businessmen to conduct their business transactions smoothly

There is no restriction on the number and amount of deposits.
There is also no restriction on the withdrawals.
Generally bank does not pay any interest on current account.
Nowadays, some banks do pay interest on current accounts.
Current account is of continuing nature and as such there is no fixed period.
130
RECOMMENDATIONS & SUGGESTION

1. Behave in ethical manner and more & more transparent transactions.
2. Awareness of demat:- If they want that demat more & more used by
investors then there are urgent need to aware peoples through seminars and
other ways.
3. Introduced confidence in invertors: - There is need to increase investors
confidence in demat system through their services.
4. Remove hesitation: - People think that they will not understand the tuff
procedure of demat. But DPs can helps to remove this hesitation by providing
them knowledge about the system.
5. DPs help to reduce risk by becoming reliable: - If DPs will provide their
services in proper manner then there will be less risk, and it leads to more use
of demat.
6. Adequate safeguard:- Every depository have to be established proper
safeguard, which shows that if any problem arise then invertors can easily get
the remedy.
7. Prompt relief: - NSDL must have some arrangements for investors
grievances.
8. Improve liquidity: - There is no any doubts that demat improve liquidity as
compared to physical system. But still there is some space for improvement.
Ethics and transparency: - Every depository, DPs and other related parties
should behave in ethical manner and more & more transparent transactions.
131
9. Concern for the investors: - Depositories must have to show concern for
their investors and should provide them all benefits and services
Fill up lengthy forms, stand in quest for hours in the bank to deposit the money and
thereafter wait for acceptance letter by the firms. These were some of the steps to be
taken to grab hold of the few shares of the reputed companies listed in the stock
exchange. There were other problems also, like fake shares, theft or loss of share
certificates and untimely payment. Demat account eliminated the endless paperwork
and delays and allowed investors to buy, sell and transact shares in a safe, secure
and convenient manner.
If depositories consider all the above suggestions then customers will be highly
satisfied and will use current account. So, last but not least customer
satisfaction is must for success of current account. However Customers are
satisfied but there is a need for improvements. So customers satisfaction level
is neither too bad nor too satisfactory. SEBI, DP Act 1996 should make some
amendments to increase level of customer satisfaction.
It is coherent to say that Dematerialization is a positive process which mobilizes and
channelizes the savings of investors into the development of the industry and
thereby the entire economy. Therefore the investors must be made aware of
these benefits that they will derive on usage of the services and thereby
promote the development of online trading by moving in the right direction.
132
133

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A

Project Study Report

customer satisfaction in IDBI BANK

FOR THE PARTIAL FULFILMENT OF THE DEGREE

Master of Business Administration

UNDER THE SUBJECT

Faculty Of Management Studies

I, ANKUR NAGPAL, student of MBA SEM- IV (2011-2013) hereby declare that I

Introduction to the industry

Introduction to the Organization

1. Title of the Study

Data Analysis and Interpretation

Recommendation and Suggestion

Banking system in India:

History of Banking in India:

They are as mentioned below:

Early phase from 1786 to 1969 of Indian Banks

Nationalization of Indian Banks and up to 1991 prior to Indian banking sector

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 crore.

Structure of banking system in India:

Scheduled Commercial Banks in India:

Scheduled Commercial Banks in India

Unscheduled Banks in India

The following are the Scheduled Banks in India (Public Sector):

State Bank of India

State Bank of Bikaner and Jaipur

State Bank of Hyderabad

State Bank of Indore

State Bank of Mysore

State Bank of Saurashtra

State Bank of Travancore

Central Bank of India

Indian Overseas Bank

Oriental Bank of Commerce

Punjab National Bank

Punjab and Sind Bank

Union Bank of India

United Bank of India

The following are the Scheduled Banks in India (Private Sector):

ING Vysya Bank Ltd

Axis Bank Ltd

Indusind Bank Ltd

ICICI Bank Ltd

South Indian Bank

HDFC Bank Ltd

Centurion Bank Ltd

Bank of Punjab Ltd

IDBI Bank Ltd

Jammu & Kashmir Bank Ltd.

The following are the Scheduled Foreign Banks in India:

American Express Bank Ltd.

ANZ Gridlays Bank Plc.

Bank of America NT & SA

Bank of Tokyo Ltd.

Banquc Nationale de Paris

Barclays Bank Plc