“COMPARATIVE ANALYSIS OF PRODUCTS &

SERVICES OF AXIS BANK WITH BANK OF BARODA

AND ITS COMPETITORS”

Submitted By
TANVI SHAKTI MATHUR

An Internship Report Presented in Partial Fulfillment of the

requirements of the degree

Post Graduate Diploma in Management (PGDM)

Som-Lalit Institute of Management Studies, SLIMS Campus
Ahmedabad, Gujarat

Internship Period: 2 months (19th April, 2019- 18th June, 2019)

AXIS Bank Limited, Usmanpura, Ahmedabad

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 Som-Lalit Institute of Management Studies (SLIMS)

A Project Report
On

“Comparative Analysis of Products & Services of Axis Bank

with Bank of Baroda and its Competitors”

SUBMITTED TO:

Mr. Rohen Gandhi

Branch Head

AXIS Bank Limited, Usmanpura, Ahmedabad

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INTERNSHIP COMPLETION CERTIFICATE

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 DECLARATION

I, Tanvi Mathur student of PGDM, Som-Lalit Institute of Management, for the purpose of
completion of my academics have done this report, titled as “COMPARATIVE
ANALYSIS OF PRODUCTS & SERVICES OF AXIS BANK WITH BANK OF
BARODA AND ITS COMPETITORS” uniquely prepared by me after complication of 8
weeks as an intern in Axis Bank Limited, Usmanpura, Ahmedabad, under the supervision
of Mr. Rohen Gandhi, Branch Head, Axis Bank Limited, Usmanpura, Ahmedabad.

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 ACKNOWLEDGEMENT

I wish to express my gratitude to AXIS BANK for giving me an opportunity to be a part

of their esteemed organization and enhance my knowledge by granting permission to do
summer training project under their guidance.

I am deeply indebted to my guide, Mr. Rohen Gandhi, Branch Manager, AXIS Bank,
Usmanpura Branch, Ahmedbad for his valuable and enlightened guidance. He provided me
with the opportunity to learn in the bank and spared his valuable time to help me.

A special thanks to my Operations Head, AXIS Bank and my other branch colleagues, for
guiding me through each and every detail of the project.

A special thanks to my faculty guide, Prof. Reshmi Banerjee for being the chief facilitator
of this project and helping me in enhance my knowledge in the field of banking sector.

This project has been possible due to the support of several wonderful individuals. I would
like to thank many unknown individuals, with whom I interacted. All of them with their
due cooperation and motivation made the completion of this project successful. I would
like to thank them all.

Last but not the least I am highly obliged to my friends and colleagues for their help and
support. The learning during the project was immense and valuable.

Regards,

TANVI MATHUR

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 TABLE OF CONTENTS

OVERVIEW OF THE INDIAN BANKING INDUSTRY ......................................................... 8

INTRODUCTION TO THE ORGANIATION ......................................................................... 11
ABOUT ...................................................................................................................................... 12
VISION OF THE BANK ........................................................................................................... 12
MISSION OF THE BANK ........................................................................................................ 13
AXIS BANK- STP..................................................................................................................... 13
EVOLUTION ............................................................................................................................ 14
BUSINESS DESCRIPTION ...................................................................................................... 15
SUBSIDIARIES ........................................................................................................................ 16
PROMOTERS ........................................................................................................................... 17
CAPITAL STRUCTURE .......................................................................................................... 17
DISTRIBUTION NETWORK................................................................................................... 17
BUSINESS OVERVIEW .......................................................................................................... 19
SERVICES OFFERED BY AXIS BANK ................................................................................. 26
COMPETITIVE ADVANTAGES OF AXIS BANK ................................................................ 28
INTRODUCTION TO BANK OF BARODA ........................................................................... 30
ABOUT ...................................................................................................................................... 31
EVOLUTION ............................................................................................................................ 31
MISSION ................................................................................................................................... 32
RESEARCH -1 ............................................................................................................................. 33
COMPARISON OF PRODUCTS PROVIDED BY BOTH PRIVATE AND PUBLIC
SECTOR BANKS ........................................................................................................................ 33
RESEARCH METHODOLOGY............................................................................................... 34
SCOPE OF THE STUDY .......................................................................................................... 35
LIMITATIONS OF THE STUDY............................................................................................. 35
SAVINGS ACCOUNTS ............................................................................................................ 36
KEY FINDINGS ........................................................................................................................ 40
CREDIT CARDS ....................................................................................................................... 41
KEY FINDINGS ........................................................................................................................ 47
DEBIT CARDS ......................................................................................................................... 48
KEY FINDINGS ........................................................................................................................ 51
DEPOSITS ................................................................................................................................. 52
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 BANK OF BARODA DEPOSITS............................................................................................. 52
AXIS BANK DEPOSITS .......................................................................................................... 55
KEY FINDINGS ........................................................................................................................ 58
RESEARCH 2 .............................................................................................................................. 59
SURVEY ON THE COMPARATIVE ANALYSIS OF THE SERVICES GIVEN BY
DIFFERENT BANKS.................................................................................................................. 59
OBJECTIVES OF THE STUDY ............................................................................................... 61
RESEARCH METHODOLOGY............................................................................................... 62
SAMPLE SIZE AND METHOD OF SELECTION .................................................................. 62
SCOPE OF THE STUDY .......................................................................................................... 62
LIMITATIONS OF THE STUDY............................................................................................. 63
ANALYSIS OF THE QUESTIONNAIRE ................................................................................ 64
CONCLUSION ............................................................................................................................ 81
RECOMMENDATIONS............................................................................................................. 81
ATTACHMENTS- GOOGLE FORM LINK ............................................................................ 82
RESPONSES LINK ..................................................................................................................... 86

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OVERVIEW OF THE INDIAN BANKING
INDUSTRY

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The banking industry in India is sufficiently capitalized and regulated. The economic and
financial conditions here are better than in any other country. Liquidity, credit, and market
studies have proven Indian banks to be resilient. They have negotiated the downturn in the
global economy well.

The Reserve Bank of India (RBI) is the topmost body monitoring the Banking Industry.
Any shortcomings or discrepancies are dealt with by the RBI.

The banking industry in India is divided into scheduled and non-scheduled banks. 67,000
scheduled bank branches are located in India. They consist of cooperative banks and
commercial banks. The PSBs (Public Sector Banks) form the base of this sector in India.
They account for 78% of the assets in the banking sector. The Private Sector banking is
making headway. They are leading in mobile banking, phone banking, ATMs, and Internet
Banking sectors.

▪ The Indian banking system consists of 27 public sector banks, 21 private sector
banks, 49 foreign banks, 56 regional rural banks, 1,562 urban cooperative banks
and 94,384 rural cooperative banks, in addition to cooperative credit institutions.

▪ As of Q1 FY19, total credit extended by commercial banks surged to Rs 86,976.2

billion (US$ 1,297.4 billion) and deposits grew to Rs 115,070.3 billion (US$
1,716.4 billion).

▪ Reserve Bank of India (RBI) has decided to set up Public Credit Registry (PCR) an
extensive database of credit information which is accessible to all stakeholders. The
Insolvency and Bankruptcy Code (Amendment) Ordinance, 2017 Bill has been
passed and is expected to strengthen the banking sector.

▪ Deposits under Pradhan Mantri Jan Dhan Yojana (PMJDY) increased to Rs 926.78
billion (US$ 12.85 billion) were deposited and 336.6 million accounts were opened
in India. In May 2018, the Government of India provided Rs 6 trillion (US$ 93.1
billion) loans to 120 million beneficiaries under Mudra scheme. In May 2018, the
total number of subscribers was 11 million, under Atal Pension Yojna.

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 ▪ Rising incomes are expected to enhance the need for banking services in rural areas
and therefore drive the growth of the sector. As of September 2018, Department of
Financial Services (DFS), Ministry of Finance and National Informatics Centre
(NIC) launched Jan Dhan Darshak as a part of financial inclusion initiative. It is a
mobile app to help people locate financial services in India.

▪ The digital payments revolution will trigger massive changes in the way credit is
disbursed in India. Debit cards have radically replaced credit cards as the preferred
payment mode in India, after demonetization. Debit cards garnered a share of 87.14
per cent of the total card spending.

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 India's 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 corners of the country. This is one of the main reasons of India's growth
process.

The Indian Banking System consists of:

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INTRODUCTION TO THE ORGANIATION

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ABOUT

Axis Bank India, the first bank to begin operations as new private banks in 1994 after the
Government of India allowed new private banks to be established. Axis Bank was jointly
promoted by the Administrator of the specified undertaking of the

• Unit Trust of India (UTI)

• Life Insurance Corporation of India (LIC)

• General Insurance Corporation Ltd.

Also with associates viz. National Insurance Company Ltd., the New India Assurance
Company, The Oriental Insurance Corporation and United Insurance Company Ltd.

VISION OF THE BANK

“To be the preferred financial solutions provider excelling in customer delivery through
insight, empowered employees and smart use of technology.”

The Bank works on certain values and ethics that it has to concentrate on and makes sure
to fulfill and adhere to them.

Some of the core values are as under:

VALUES

Customer
Ethics Transparency Teamwork Ownership
Centricity

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MISSION OF THE BANK

• Customer service and product innovation tuned to diverse needs of individual and
corporate clientele.

• Continuous technology up gradating while maintaining human values.

• Progressive globalization and achieving international standards.

• Efficiency and effectiveness built on ethical practices.

• Customer Satisfaction through providing quality service effectively and efficiently.

AXIS BANK- STP

Segmentation

• People and the enterprises who need the banking or financial

services

Target Group

• People from middle income groups, HNIs, customers

Positioning

• Axis bank: A bank that is with you when you are in need

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EVOLUTION

UTI was established in 1964 by an Act of Parliament; neither did the Government of India
own it nor contributes any capital. The RBI was asked to contribute one-half of its initial
capital of Rs 5 crore, and given the mandate of running the UTI in the interest of the unit-
holders.

Unlike other unit trusts and mutual funds, the UTI was not created to earn profits. In the
course of nearly four decades of its existence, it (the UTI) has succeeded phenomenally in
achieving its objective and has the largest share anywhere in the world of the domestic
mutual fund industry. '' The emergence of a "foreign expert" during the setting up of the
UTI makes an interesting story.

The announcement by the then Finance Minister that the Government of India was
contemplating the establishment of a unit trust caught the eye of Mr. George Woods, the
then President of the World Bank. Mr. Woods took a great deal of interest in the Indian
financial system, as he was one of the principal architects of the ICICI, in which his bank,
First Boston Corporation Bank, had a sizeable shareholding. Mr. Woods offered, through
Mr. B.K. Nehru, who was India's Executive Director on the World Bank, the services of
an expert. The Centre jumped at the offer, and asked the RBI to hold up the finalization of
the unit trust.

Proposals till the expert visited India. The only point Mr. Sullivan made was that the
provision to limit the ownership of units to individuals might result in unnecessarily
restricting the market for units. While making this point, he had in mind the practice in the
US, where small pension funds are an important class of customers for the unit trusts. The
Centre accepted the foreign expert's suggestion, and the necessary amendments were made
in the draft Bill. Thus, began corporate investment in the UTI, which received a boost from
the tax concession given by the government in the 1990-91 Budget.

According to this concession, the dividends received by a company from investments in

other companies, including the UTI, were completely exempt from corporate income tax,
and provided the dividends declared by the investing company were higher than the

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dividends received. The result was a phenomenal increase in corporate investment which
accounted for 57 per cent of the total capital under US-64 scheme. Because of high liquidity
the corporate sector used the UTI to park its liquid funds. This added to the volatility of the
UTI funds. The corporate lobby which perhaps subtly opposed the establishment of the
UTI in the public sector made use of it for its own benefits later. The Government-RBI
power game started with the finalization of the UTI charter itself.

The RBI draft of the UTI charter stipulated that the Chairman will be nominated by it, and
one more nominee would be on the Board of Trustees. While finalizing the draft Bill, the
Centre changed this stipulation. The Chairman was to be nominated by the Government,
albeit in Consultation with RBI. Although the appointment was to be made in consultation
with the Reserve Bank, the Government could appoint a person of its choice as Chairman
even if the Bank did not approve of him.

Later on in 2002 the UTI was renamed to Axis Bank.

BUSINESS DESCRIPTION

Axis Bank is the third largest private sector bank in India. The Bank offers the entire
spectrum of financial services to customer segments covering Large and Mid-Corporates,
MSME, Agriculture and Retail Businesses.

Compound Annual Growth Rate (CAGR)

Compound annual growth rate (CAGR) is the rate of return that would be required for an
investment to grow from its beginning balance to its ending balance, assuming the profits
were reinvested at the end of each year of the investment’s lifespan.

With a balance sheet size of Rs. 6,91,330 crores as on 31st March 2018, Axis Bank has
achieved consistent growth and with a 5 year CAGR (2012-13 to 2017-18) of 15% in Total
Assets, 12% in Total Deposits, 17% in Total Advances.

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SUBSIDIARIES

The Bank has 11 subsidiaries

Axis Capital Ltd. (ACL)

Axis Securities Ltd. (ASL)

Axis Private Equity Ltd. (APE)

Axis Trustee Services Ltd. (ATSL)

AXIS BANK

Axis Asset Management Company Ltd.

(AAMC)

Axis Mutual Fund Trustee Ltd. (AMFT)

Axis Finance Ltd (AFL)

A.TREDS Ltd. (ATL)

Axis Bank UK Ltd. (ABUK)

Freecharge Payment Technologies Private

Limited (Freecharge)

Accelyst Solutions Private Limited (Accelyst)

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PROMOTERS

Axis Bank Ltd. has been promoted by the largest and the best Financial Institution of the
country, UTI. The Bank was set up with a capital of Rs. 115 crore with:

1. UTI contributing Rs. 100 crore,

2. LIC - Rs. 7.5 crore,

3. GIC and its four subsidiaries contributing Rs. 1.5 crore each.

The Administrator of the Specified Undertaking of the Unit Trust of India

(SUUTI),manages assured return schemes along with 6.75% US-64 Bonds, 6.60% ARS
Bonds with a Unit Capital of over Rs. 14167.59 crores. The SUUTI Shareholding is
approximately 11.56%.

CAPITAL STRUCTURE

The Bank has authorized share capital of Rs. 850 crores comprising 4,250,000,000 equity
shares of Rs.2/- each. As on 31st March 2018, the Bank has issued, subscribed and paid-
up equity capital of Rs. 513.31 crores, constituting 2,56,65,38,936 equity shares of Rs.2/-
each. The Bank’s shares are listed on the National Stock Exchange of India Limited and
the BSE Limited. The GDRs issued by the Bank are listed on the London Stock Exchange
(LSE). The Bonds issued by the Bank under the MTN programme are listed on the
Singapore Stock Exchange.

DISTRIBUTION NETWORK

Data of branches as on 31st December, 2018:

• 3964 domestic branches

• 12,705 ATMs

• 3548 cash recyclers

Overseas Operations:
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The bank has 10 international offices at:

1. Singapore

2. Hong Kong

3. Dubai (at the DIFC)

4. Colombo

5. Shanghai

6. Dhaka

7. Dubai

8. USA

9. Abu Dhabi

10. London

The international offices focus on corporate lending, trade finance, syndication, and
investment banking and liability businesses.

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BUSINESS OVERVIEW

Retail Banking

Corporate Banking

International Banking

BUSINESS OVERVIEW
Information Technology

Human Resources

CSR

Transaction Banking

Lending to SME

1. Retail Banking

The Retail Banking segment continues to be a key driver of the Bank’s overall
growth strategy. It encompasses a wide array of products and services across
deposits, loans, investments and payment solutions which are delivered
through multiple channels to the Bank’s customers. The Bank has over the
years developed long-term relationships with its customers by being their preferred
financial solutions partner on account of its excellent customer delivery through
insights and superior services.

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 • Savings Bank deposits crossed Rs. One lac crores and have grown at a
Compounded Annual Growth Rate (CAGR) of 21% over the last five
years. The Bank had over 172 lac savings account customers, registering a
growth of 15%.

• The Retail Assets portfolio has grown at a Compounded Annual Growth

Rate (CAGR) of 31% over the last five years.

• The Bank has continued to develop its risk management capabilities in

Retail business, both from a credit and operations risk standpoint. The
branch channel is effectively utilized for growing the retail assets business,
with loan and card products being offered to existing clientele.

• The Bank distributes investment products such as mutual funds,

Bancassurance products (Life, Health and General Insurance) and online
trading products through its branches. For the Life Insurance distribution,
the Bank distributes products of Max Life Insurance Company.

• The Bank regards Financial Inclusion (FI) as an integral component of its

rural strategy to further extend its reach in the rural market.

2. Corporate Banking

The Bank continued its focus on transactional business comprising of trade finance,
cash management, remittances etc. and has further strengthened its processes and
controls apart from investing in technology platforms to enable seamless
transaction experience on digital channels introduced by the Bank for its
corporate clients. This has enabled an increase in the Bank’s wallet share in a wide
range of banking products with its corporate customers.

• The Bank’s corporate advances portfolio grew by 22% during the fiscal year
2016. The growth has been on account of cost efficient financing provided
to highly rated corporates, with strong group financials, that are new
relationship additions to the Bank’s franchise.

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 • The Bank has been cautious in its lending practices, especially in the last
three years by focusing on higher rated corporates.

• The bank has maintained its leadership position in the loan syndication
market and syndicated an aggregate amount of `22,613 crores (previous
year `15,930 crores) by way of rupee loans and USD 1.93 billion (previous
year USD 1.55 billion) of foreign currency loan during the year 2015-16.

3. International Banking

The International Banking strategy of the Bank continues to revolve around

leveraging its relations with corporates in India and Non-resident Indians, while
providing banking solutions at overseas centers. It also widens the horizon of
the product offerings covering a varied spectrum of corporate and retail
banking solutions across client segments in various geographies.

The global landscape of the Bank consists of five branches at Singapore, Hong
Kong, Dubai International Financial Centre (DIFC) – UAE, Colombo (Sri Lanka)
and Shanghai (China); three representative offices at Dubai, Abu Dhabi (both in
UAE) and Dhaka (Bangladesh); and an overseas banking subsidiary in the United
Kingdom.

• The Bank continues to offer corporate banking, trade finance, treasury and
risk management solutions through the branches at Singapore, Hong Kong,
DIFC, Shanghai and Colombo, and also retail liability products from its
branches at Hong Kong and Colombo.

• The Bank’s Gulf Co-operation Council (GCC) initiatives in the form of

representative offices in Dubai and Abu Dhabi, and alliances with banks
and exchange houses in the Middle East provide support for leveraging the
business opportunities emanating from the large NRI diaspora present in
these countries.

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 • Through the Representative Office at Dhaka, the Bank aims to promote its
trade finance business arising between Bangladesh and India & other Asian
financial markets where Bank has presence.

• The Bank focuses on consolidating the operations at overseas branches and

managing the risks in international operations. Emphasis continued towards
trade finance business and value added services.

4. Information Technology

The IT team of the Bank in partnership with its trusted and experienced vendors
has been instrumental in making the innovations and aspirations of high quality
digital products and services from the various businesses and other operations
teams a reality. The Bank has launched some unique products and processes this
year like LIME, 24X7 instant Personal Loan, new tablet based Loan Origination
System, various branch automation projects, FxConnect Mobile for its corporate
customers.

• The inception phase of LIME focuses on easy peer-to-peer payments,

seamless shopping and payments experience, end-to-end digital banking
platform and simple personal finance management tools with tailored
insights. LIME has helped the bank to capture a huge customer base outside
its existing customer base.

• A new tablet based Loan Origination system has been developed to digitize
the entire lending process of Micro-Finance business. The application
includes different modules for on-boarding of villages by conducting
village surveys, on-boarding of applicants, conducting group trainings and
tests, and complete the disbursement.

• The Bank has centralized its account opening process to achieve economies
of scale and reduce logistics costs and time taken in shipping documents to
a central location. Single uniform imaging based workflow solution for
CASA account opening was implemented.
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 • The Bank launched FxConnect Mobile to provide constant connectivity to
forex market to its corporate customers enabling them to track the market
and cover transactions on the go.

• The Bank has also implemented Credit Processing System (CPS), a

complete Loan Management System designed to assist the Bank in
automating its lending process from loan origination, verification,
sanctioning to pre & post-disbursement activities. CPS provides immense
operational advantages of automating a high volume credit origination and
appraisal segment such as retail and small and medium enterprises (SME)
as well as the corporate segment.

5. Human Resources

Developing leadership skills across various levels in the Bank is one of the key
focus areas for capability building in the Bank. The Bank follows an
institutionalized approach in identifying individuals with potential to become
future leaders. A multi-tiered leadership development program has been created to
develop leaders at various levels in the Bank. Academic tie-ups have been put in
place to ensure access to world class content, faculty and premier institutions across
the globe.

• The Bank has launched Axis Academic Interface Program (AAIP) with
Institutions to offer youngsters an understanding about the financial
services industry, and 20 creating ‘Axis Bankers’. So far, the Bank has tied
up with Manipal University, NIIT, IFBI and Guwahati University.

• Axis Bank has a young workforce with an average age of 29 years. The
equal opportunity employer policy of the Bank contributes strongly to the
Axis Bank brand.

• The Bank launched “With You” - an initiative to provide confidential

counselling services to employees and their families for anything, at any
time.
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6. Corporate Social Responsibility (CSR)

The Bank’s primary CSR philosophy rests on a purpose-driven approach to create

a meaningful and measurable positive impact on the lives of economically,
physically and socially challenged communities of the country by supporting
initiatives aimed at creating conditions suitable for sustainable livelihood in these
communities.

• Financial Inclusion and Literacy is one of the key national priorities and the
Bank leverages its pan India presence to reduce inequalities faced by
socially and economically backward groups.

• Environmental sustainability is another key focus area for the Bank’s CSR
agenda and the Bank undertakes various environmental sustainability
projects and community engagement programs.

• The CSR activities are pursued through various initiatives undertaken by

the Bank or through Axis Bank Foundation (ABF) or through any other
Trust or agencies and entities as deemed suitable. The Bank leverages its
geographical spread to undertake such initiatives.

• In the area of Livelihoods, ABF has partnered with NGOs that primarily
work in the areas of Watershed Management and Agriculture Productivity,
Livestock Enhancement, Vocational Training, and Livelihood for the
Disabled.

• Financial Inclusion activities are conducted to help the beneficiaries gain

access to banking facilities. 25,033 Self Help Groups (SHGs) have been
formed with a membership of 316,792 women.

• The Livelihood programs also seek to train unemployed youth both abled
and disabled in various vocations leading to their employability. 79,619
youth have been trained of which 33,810 have been placed and 19,278 youth
are self-employed.

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 • ABF encourages employee engagement through a gamut of activities.
Regular blood donation campaigns as well as Thalassemia screening camps
are conducted under the “Gift of Life” initiative. The “Basket of Hope”
initiative is aimed at collection drives for clothes, toys, and books etc. that
are then re-directed to needy people.

7. Transaction Banking

A new business unit ‘Transaction Banking’ was formed in April 2015 to focus on
the flow businesses within Corporate Banking, i.e. current accounts, collection &
payments solutions, forex, trade services and capital market solutions. This
restructuring was done to enable the Bank to offer a seamless experience to its
customers, for all their requirements through a dedicated relationship manager
supported by a customer service team.

• The key themes that the business has been focusing on are deepening share
of wallet for existing clients, offer digital solutions to customers and
enhance customer service.

• The Bank also launched mobile apps for the entire gamut of transaction
banking requirements, including payments, forex rate bookings and trade
finance transactions.

• The Bank has also taken various steps to strengthen internal controls and
adhere to emerging regulatory requirements.

8. Lending to Small and Medium Enterprises (SME)

Axis Bank plays an important role in supporting the Small and Medium Enterprise
(SME) businesses across the nation. The SME business of the Bank comprises of
three business groups: Medium Enterprises (MEG), Small Enterprises (SEG) and
Supply Chain Finance (SCF) which as on 31 March, 2016 comprised 40%, 46%
and 14% of total SME advances respectively.

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 • The bank newly launched its product “Exim Power” which offers financing
facilities to SMEs engaged in export/import activities and showcase Bank’s
commitment towards “Make in India” initiative.

• The bank had initiated a road show series titled “Evolve” for capacity
building of SMEs which attracted lot of appreciation from the
participants. This capacity building initiative is also a unique step towards
further facilitating and contributing to the ‘Make in India’ initiative.

• Special initiatives have been undertaken during fiscal year 2016 to promote
lending to the Priority Sector which includes product and marketing
initiatives. Currently Bank operates from 51 SME Centers and 9 SME Cells,
across the country to service customers effectively covering around more
than 1,500 branches.

SERVICES OFFERED BY AXIS BANK

1. Internet Banking

Axis Bank provides various internet banking facilities that help and ease the
banking experience of the Axis Bank account holders. Axis Bank, aims at providing
best banking services at the customer’s comfort. Axis Bank’s internet banking
allows the customer to do the most of their banking process online at their
convenience. Below are some of the internet banking features & services.

FEATURES AND BENEFITS:

• The customer can easily check his bank account balance, download the
statements and can also view his/her Demat loan and credit card details.

• The customer can easily transfer the funds to Axis Bank accounts or other
bank accounts as well.

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 • The request for Cheque book, demand draft, stop cheque payments,
updating of PAN details and address details can be made.

• The customer can invest in the form of Fixed Deposits, IPO etc.

• The customer can pay his utility bills, recharge his mobile and also pay
VISA and credit card bills.

2. Mobile Banking

Mobile banking was launched by the bank in October 2004, within the last one and
a half year; the customer base has grown to over five lacs subscribers as of April
2006. Axis Bank Offers the Automatic Alerts service in mobile banking.

A subscriber is alerted through SMS on the activities in his account with automatic
alerts for every debit in his account of more than Rs. 5,000. Also if the customer
is registered for bill payments, he receives an alert as soon as a bill is
presented by the biller for payment.

BENEFITS

• Safety: Be alerted on any transaction above Rs. 5,000 in an individual’s

account so that action can be initiated promptly in case of any misuse of the
account.

• Convenience: Know the status of the account from wherever an individual

are.

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COMPETITIVE ADVANTAGES OF AXIS BANK

1. Business Continuity Centre

UTI Bank was the first bank in the country to set up a Business Continuity Centre
(BCC) in Bangalore which replicates the entire centralized database with a view to
enable the Bank to run smoothly in case of any eventuality affecting the Bank’s
Data Centre in Mumbai. Each transaction that gets recorded at the Data Centre gets
reflected almost instantaneously through WAN on the back-up database at the
BCC.

2. Centralized Phone Banking Centre

The Bank’s Centralized Phone Banking Centre provides customers across the
country access to the Bank over the phone, handling multiple queries in about 7000
calls per day.

3. Centralized Collection and Payment Hub

The Bank’s Centralized Collection and Payment Hub (CCPH) manages the entire
collection and payment activity under the Bank’s Cash Management Services
(CMS) across the country, handling on an average about Rs.5000 crores per month
on the collection front and about Rs.1500 crores per month on the payment front.

4. Retail Assets Management Group

The Bank’s Retail Assets Management Group (RAMG) is the operations hub of the
entire Retail asset distribution structure. In addition to opening and disbursing more
than 3000 schematic loans every month, it is responsible for the maintenance of
more than 100,000 such loan accounts, and handles the entire post – dated cheque
presentation and several kinds of repayments for all these accounts.

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5. ATM Backend Cell

The ATM Backend Cell handles the entire cash management and reconciliation of
balances pertaining to ATMs across the country and ends up tallying over four lakh
transactions by the end of the day.

6. Service Branches

The Bank’s Service Branches in the 8 major metros take care of centralized clearing
activity, handling more than one lakh cheques every day for outward and inward
clearing.

7. Data Centre

The Bank’s Data Centre in Mumbai, the centralized IT powerhouse is like the
central nervous system of the Bank. It is a real time 24x7 setup, which manages
270 products and services of the bank with a database size of 1850 GB supporting
on an average 42 lakh transactions per day, to service over 42 lakh customer
accounts and adding new customers @ 8000 per day.

8. Centralized Processing Unit

The Bank’s Centralized Processing Unit (CPU) is the backbone of the Bank,
managing production and delivery of the entire range of deliverables to customers
across the country within 24 – 72 hours from the time the customer opens the
account. The CPU currently handles about 8500 new accounts every day.

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INTRODUCTION TO BANK OF BARODA

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ABOUT

Bank of Baroda is an Indian state-owned International banking and financial services

company headquartered in Vadodara (earlier known as Baroda) in Gujarat, India. It is the
second largest bank in India, next to State Bank of India. Its headquarters is in Vadodara,
it has a corporate office in the Mumbai.

The bank was founded by the Maharaja of Baroda, Maharaja Sayajirao Gaekwad III on 20
July 1908. The bank, along with 13 other major commercial banks of India, was
nationalized on 19 July 1969, by the Government of India and has been designated as a
profit-making public sector undertaking (PSU).

EVOLUTION

In 1961, BoB merged in New Citizen Bank of India. BoB also opened a branch in Fiji. The
next year it opened a branch in Mauritius. Bank of Baroda In 1963, BoB acquired Surat
Banking Corporation in Surat, Gujarat. In 1965, BoB opened a branch in Guyana. In 1969,
the Indian government nationalized 14 top banks including BoB.

In 1980, BoB opened a branch in Bahrain and a representative office in Sydney, Australia.
That same year BoB also opened an Offshore Banking Unit (OBU) in Bahrain. Back in
India, in 1988, BoB acquired Traders Bank, which had a network of 34 branches in Delhi.

In 1992, BoB opened an OBU in Mauritius, but closed its representative office in Sydney.
Then in 1992 BoB incorporated its operations in Kenya into a local subsidiary. In 1996,
BoB Bank entered the capital market in December with an Initial Public Offering (IPO).
In 1997, BoB opened a branch in Durban.

In 2010, Malaysia awarded a commercial banking licence to a locally incorporated bank to

be jointly owned by Bank of Baroda, Indian Overseas Bank and Andhra Bank. BoB also
opened a branch in New Zealand. In 2011, BoB opened an Electronic Banking Service

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Unit (EBSU) was opened at Hamriya Free Zone, Sharjah (UAE). It also opened four new
branches in existing operations in Uganda, Kenya (2), and Guyana.

MISSION

To be a top ranking National Bank of International Standards committed to augmenting

stake holders' value through concern, care and competence.

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 RESEARCH -1

COMPARISON OF PRODUCTS PROVIDED BY

AXIS BANK AND BANK OF BARODA

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RESEARCH METHODOLOGY

Research is one of the most important parts of any study and it pertains to the collection of
the information and knowledge. The research was conducted to derive the result regarding
the products that are provided by Axis Bank in comparison to the Bank of Baroda.

Both the banks have their own products and services when it comes to providing maximum
benefits to the customers. Below mentioned is the comparison of the products and the
services given by both the banks to its customers.

For the comparison purpose, the products considered are Accounts both Savings and
Current, Card viz. Debit and Credit Cards and Deposits.

The comparison will give an idea about the difference of the products provided by the
public and the private sector banks. Also, the comparison will give an idea on how much
easy is it for the customers to open an account as the customers these days are willing to
ease of access while opening an account.

Data Source
For the survey I used the Secondary data. This data helped me in making my research much
more sensible and also helped me in deriving at the best possible results to my project.

Secondary data provides a starting point for any research and offers valuable sources of
already existing information. Secondary data are the easiest to gather and the cost of
collecting this data is also very low. For the secondary data, I used the websites of various
banks and also the annuals reports of these.

Secondary data may either be published data or unpublished data. Usually published data
are available in:

• Books, magazines and newspapers.

• Data provided by the company.
• Internet

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SCOPE OF THE STUDY

In this research, the study has been done on the following products:

1. Saving Account

2. Debit Card

3. Credit Card

4. Fixed Deposits

LIMITATIONS OF THE STUDY

This study is based on secondary data, which was collected from banks annual reports and
its website. Hence, it may be subject to measurement and allocation errors which are
common to traditional accounting reports.

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SAVINGS ACCOUNTS

Sr. No. AXIS BANK BANK OF BARODA

1 ASAP Instant Savings Account Baroda Mahila Shakti Savings

Account
2 EasyAccess Savings Account Sr. Citizen Privilege Savings
Account
3 Prestige Savings Account Super Savings Account

4 Prime Savings Account Shubh Savings Account

5 Women’s Savings Account Centenary Savings Account

6 Future Stars Savings Account Advantage Savings Account

7 Pension Savings Account Basic Savings Account

8 Trust/NGO Savings Account Baroda Champ Account

9 Youth Savings Account Baroda Bachat Mitra

10 Basic Savings Account Pensioners Savings Bank Account

11 Small Basic Savings Account Government Bodies Savings

Account
12 Inaam Personal Account Self Help Group Account

13 Senior Privilege Savings Account

TOTAL 13 12

Axis Bank offers thirteen variants in the savings account, targeting different demographics
like youth, women, elderly etc. with their offerings.

Axis bank leads in the number of variants it provides to its customers according to their
needs. The bank makes sure to give the benefits according to their needs.

The best seller among all these variants are:

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1. Easy Access Savings Account

Axis Bank’s Easy Access Savings Account brings an unmatched account access for
its customers, transaction updates and tracking with a low opening deposit of Rs.10,
000. The benefits of the Easy Access Savings Account include a personal accident
insurance cover of Rs. 2, 00,000 and a Debit Card at a nominal fee of Rs. 200.

• The customers can earn an interest of 3.5% on daily basis, quarterly.

• The minimum opening deposit is as low as Rs. 10, 000.

• The customers get one free payable at par cheque book per quarter.

• Reward Plus debit card at an issuance fees of Rs. 200 and the annual fees
of Rs. 200 as well.

• High daily withdrawal limits of Rs. 40, 000 at the ATMs and Rs. 1, 00, 000
for shopping transactions.

• First 5 transactions free at the Axis Bank ATM.

• First 3 transactions free at Non-Axis Bank ATMs in the metro cities.

2. Prime Savings Account

The Prime Savings Account benefits include enhanced transaction limits, free &
unlimited demand drafts / pay orders, unlimited cheque books and a personal
accident insurance cover of up to Rs. 5, 00,000.

• The customers can earn an interest of 3.5% on daily basis, quarterly.

• Low minimum opening deposit of Rs. 25, 000 in metros required and also
monthly e-statements will also be shared.

• The customers can receive unlimited cheque books, without any charge and
unlimited demand drafts too without any charge.

• No debit card issuance fees.

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 • Daily ATM withdrawal limit of Rs. 50, 000.

• Daily shopping transactions limit up to Rs. 75, 000.

• The customers get a privilege of unlimited ATM transactions at Axis Bank

and other Bank’s ATM.

• The customers also get Emergency Travel and Hotel assistance of up to Rs.
80, 000 (while travelling abroad) and up to Rs. 40, 000 while travelling in
India.

• The customers are also given emergency Cash Assistance of up to Rs. 5000.

• The Fraud protection cover of up to Rs. 75, 000 is also given.

3. Prestige Savings Account

The bank believes that truly effective customer service is about being accessible at
all times, therefore, the bank has gone beyond branches to instantly attend to all the
banking needs 24X7.

Additionally, the ‘Express Response Guarantee’ provided by the bank ensures that
the service requests are fast-tracked. The account comes with a TRV flexibility of
maintaining Rs.75, 000 in savings account or Rs 3, 00,000 in savings account and
term deposits combined.

Other benefits include higher transaction limits, preferential pricing on lockers and
entertainment benefits. The customer can also avail annual benefits worth Rs.
25,000 with your Prestige Savings Account.

• The relationship manager will be available 24*7 to assist the customers

through the Prestige toll free number.
• It also gives express response guarantee i.e. 48 hours.
• The debit card offers exclusive cashback offers such as 1% on fuel, 2% on
shopping and 3% on travel.

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 • No issuance fees on the debit card and a high cash withdrawal limit of Rs.
100,000 from the ATMs.
• Free cash withdrawal on both Axis Bank and Non-Axis Bank ATMs and
also no charges on NEFT/RTGS transactions.
• Complimentary MyZone Credit Card- 25% cashback on movie ticket
purchase and 1 complimentary airport lounge access per quarter.

4. Priority Savings Account

Axis Bank priority savings account offers an array of preferential services like
lifestyle benefits, entertainment offers and preferential rates to its customers. Axis
Bank priority customers get preferential treatment when they call the Phone
Banking center or visit any of the physical branches. Specially crafted Axis Mobile
App platform is also a big benefit. Axis Bank priority customers get eDGE Loyalty
rewards program membership which enables them to earn points on select savings
account transactions and credit/debit spends. The customers also get special access
to a dedicated relationship manager to get their queries answered and to get advice
on their investments.

The customers get privileges like:

• Unlimited cash transactions, cheque books, DD/PO and free fund transfer
through NEFT/RTGS/IMPS.

• They also get minimum 15% off at the partner restaurants.

• 25% discount on the locker rent for the 1st year and movie tickets booked
through BookMyShow.

• 10% cashback on online spends.

• Complimentary access to the Airport lounges across India.

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KEY FINDINGS

1. Axis bank offers more varied and better options when it comes to savings
account.

2. The privileges on the savings account offered by Axis bank is much better than
that of Bank of Baroda.

3. The bank offers varied accounts based on the income slab and minimum balance
maintenance of the customers.

4. The bank has tied up with certain airports and fuel stations to give added benefits
to the customers.

5. The banks also offers 24*7 phone banking service which is an added benefit as
the customers can resolve their concerns at any point of time.

6. Axis bank also gives fraud protection to its customers up to certain limit.

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CREDIT CARDS

Sr. No. AXIS BANK BANK OF BARODA

1 Axis Bank MyZone Credit Card BOB Easy Credit Card

2 Axis Bank Neo Credit Card BOB Select Credit Card

3 Axis Bank Vistara Credit Card BOB Premier Credit Card

4 Axis Bank Vistara Signature Credit BOB Prime Credit Card

Card
5 Axis Bank Vistara Infinite Credit
Card
6 Axis Bank Privilege Credit Card

7 Axis Bank Pride Platinum Credit

Card
8 Axis Bank Pride Signature Credit
Card
9 Axis Bank Insta Easy Credit Card

10 Axis Bank Signature Credit Card

with Lifestyle Benefits
11 Axis Bank Buzz Credit Card

12 Axis Bank My Wings Credit Card

13 Miles and More Axis Bank Credit

Card
14 Axis Bank Reserve Credit Card

TOTAL 14 4

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Axis Bank offers a series of credit cards to choose from. Each credit card is tailor made to
meet customers’ needs and desires. Unmatched privileges have been offered through the
credit cards that are provided by Axis Bank.

Axis Bank offers in all 14 options for he customers matching their needs and requirements.
But out of these variants, the best sellers are as under:

1. Axis Bank Neo Credit Card

Axis Bank has issued a credit card especially aimed at online shoppers. Axis Bank
Neo credit card comes with a bouquet of welcome gifts along with other benefits
that users can enjoy. This is a chip and PIN enabled credit card that ensures secure
usage and keeps the card safe from fraudulent activities.

Axis Bank Neo credit card users enjoy a host of benefits and features. These are:

• Amazon gift voucher worth Rs. 250 on first spend within 30 days of card
issuance.

• bookMyShow welcome gift voucher worth Rs. 300.

• No minimum spend requirement.

• Minimum 15% discount on dining at partner restaurants.

• Jabong welcome gift voucher of up to ₹ 500.

2. Axis Bank MyZone Credit Card

With the My Zone credit card by Axis Bank, the customers can avail discounts on
all their daily expenses made with the card. It offers cashback on movie ticket
purchases, complimentary lounge access at airports, and a fuel surcharge waiver as
well. An annual fee of Rs.500 is also charged from the 2nd year onwards.

Key Highlights of Axis Bank My Zone Credit Card:

• The Axis Bank My Zone Credit Card meets the needs of people who seek
lifestyle benefits on their credit card.
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 • You get accelerated reward points when you use the card for weekend
dining and shopping.

• The first year fee of Rs.500 is waived off on spends of Rs.5, 000 within 45
days of the card issuance.

Lifestyle benefits with the Axis Bank My Zone Credit Card

• The Axis Bank My Zone Credit Card provides special cashback offers,
discounts, and rewards on categories like shopping, dining, online
transactions and a lot more.

• Axis My Zone Credit Card users can enjoy 4 complimentary visits per year
to participating airport lounges within India.

• Movie ticket booking made using the My Zone Credit Card will make the
customers eligible for a 25% discount on the total booking account.

• The Axis Bank My Zone Credit Card is an EMV certified chip card that is
protected by chip as well as a PIN. The inbuilt chip enables more secure
transactions than a magnetic strip card. It reduces the risks of counterfeit
and skimming fraud.

• Get 1% fuel surcharge waiver for fuel transactions carried out at all fuel
stations across India. The waiver is valid on card transactions between
Rs.400 and Rs.4, 000. The maximum surcharge waiver is capped at Rs.400
per billing cycle.

• Under Axis Banks ‘Dining Delights’ programme, the customers enjoy a

minimum 15% off on dining bills at select restaurants in the country.

• Any purchase above Rs.2500 made using the card can be converted into
easy monthly instalments by contacting the bank.

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3. Axis Bank Privilege Credit Card

The Privilege credit card by Axis Bank discounts and benefits across a wide range
of categories such as dining, fuel transactions as well as shopping. With the card,
the customers will have complimentary access to MasterCard lounges twice every
year. The card comes with a joining fee of Rs.1000 which is not charged for Priority
customers. The annual fee of the credit card is Rs.1500 which is waived off if the
customer’s annual spends are more than Rs.4 lakh.

• On completion of 3 transactions with the card within 60 days of its issuance,

you get 12,500 eDGE reward points which can be redeemed for Yatra
vouchers worth Rs.5, 000.

• You would enjoy the best of premium privileges with the 'Extraordinary
Weekends' offered by the bank.

• For fuel transactions between Rs.400 and Rs.4000 with the card, you enjoy
a waiver of the fuel surcharge. However, the maximum waiver per month is
Rs.400.

• You also get the option of converting your all transactions exceeding
Rs.2500 into Equated Monthly Income (EMI).

• The Privilege Credit Card is accompanied with insurance covers such as air
accident cover up to Rs.2,5 crore, purchase protection of Rs.1 lakh, and lost
card liability up to Rs.3 lakh.

• 2 complimentary access to lounges at selected domestic airports per quarter.

4. Axis Bank Vistara Credit Card

The Axis Bank Vistara credit card is known for the rewards it offers under various
categories. Along with providing Air insurance, the card also gives you 15% on
your dining expenses.

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 • The customers get a complimentary economy class flight ticket as a
welcome gift.

• The customers get Club Vistara membership for free.

• Get economy class tickets for free when the customers reach milestone
spends.

• Up to Rs.2.5 crore complimentary air accident insurance.

• Complimentary lounge access at airports in India.

• Get complimentary access to selected airport lounges in India. In addition

to this, the customers also get a minimum of 15% off at partner restaurants
across the country with Axis Bank Dining Delights.

• If the customer makes a transaction for Rs.2500 or more, they can convert
this purchase into affordable monthly instalments.

BANK OF BARODA CREDIT CARDS

1. BOB Easy Credit Card

• 5X rewards on Grocery, Departmental stores, Movies spends; 1x on others.

• 0.5% Cashback on card bill payment.

• Zero fuel surcharge.

• Zero annual fees basis card usage*.

• Spend Rs. 6,000 within 60 days and Rs. 35,000 in a year for reversal/waiver
of annual fees.

• Convert purchase of > Rs. 2500/- on your card into easy EMIs of 6/12
months.

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 • Get free Personal Accidental Death Cover to ensure financial protection of
your family.

2. BOB Select Credit Card

• Earn 5 reward points for every Rs. 100 spent on online shopping, Dining,
and Utility bills.

• Get 1,000 reward points on 5 transactions of more than Rs. 1,000 per month.

• Spend Rs. 7500 within 60 days and Rs. 70,000 in a year, for reversal/waiver
of annual fees.

• 1% fuel surcharge waived for all transactions between Rs. 400 – Rs. 5,000.

• Report loss of card immediately to ensure zero liability on any fraudulent

transactions.

3. BOB Premier Credit Card

• 5X rewards on travel, dining and abroad; 1x on others.

• Complimentary airport lounge, 24x7 concierge, Golf program.

• Zero fuel surcharge.

• Zero annual fees basis card usage*.

• Spend Rs. 10,000 within 60 days and Rs. 1, 20,000 in a year, for
reversal/waiver of annual fees.

4. BOB Prime Credit Card

• Guaranteed issuance against FD of 15,000 or more without any income

proof

• 1% cashback on all spends.

• Zero fuel surcharge.

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 • Zero first year and annual fees.

• Convert purchase of > 2,500/- on your card into easy EMIs of 6/12 months.

KEY FINDINGS

1. Catering to every lifestyle requirement, an Axis Bank credit card is the perfect
companion for shopping, dining, travel and for purchasing movie tickets.

2. Customers can choose a card that fits them the best and enjoy attractive offers and
rewards on each and every Axis Bank credit card purchase.

3. Axis bank credit card gives exciting Cashback options.

4. Axis bank credit cards give higher purchase limits according to the customer needs.
5. The customers can gain over 500 rewards from Axis Bank's eDGE Loyalty
program.
6. The AXIS Bank credit card offers exciting discounts on dining, shopping and e-
commerce transactions.
7. The Axis bank credit cards also offer VIP Lounge access at airports.
8. The customers can create their own credit card using MyDesign.

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DEBIT CARDS

Sr. No. AXIS BANK BANK OF BARODA

1 Burgundy Debit Card VISA Classic Card

2 Wealth Debit Card RuPay Platinum Card

3 Priority Debit Card Baroda Master Platinum Card

4 Prestige Debit Card RuPay Classic Card

5 Online Rewards Debit Card Master Classic Card

6 Titanium Rewards Debit Card VISA Platinum Chip Card

7 Youth Debit Card

8 Ladies First Debit Card

9 Visa Classic Platinum Debit Card

10 RuPay Platinum Debit Card

11 Smart Privilege Debit Card

TOTAL 11 6

Axis Bank provides an array of debit cards offering customers convenient cashless
shopping, exciting discounts, rewards from the eDGE Loyalty program and personalized
card designs. Axis Bank debit cards come with enhanced security features for purchase
transactions on Verified by Visa (VbV) and MasterCard Secure Code platforms.

Axis bank offers varied variants to its customers in Debit Cards suiting their needs and
comfort. From among these cards, the bestselling variants are as under:

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1. Burgundy Debit Card

As a premium customer, the burgundy debit card lets them enjoy higher daily
withdrawal and purchase limits and waiver of card fees. The customers can also
avail its new Contactless feature in select stores for a faster and safer shopping
experience. The customers Get free ATM withdrawals from any bank’s ATMs
around the world, receive complimentary movie tickets and gain access to exclusive
airport lounges with the Burgundy Debit Card.

• Enhanced daily cash withdrawal limit of Rs. 300,000 and purchase limit of
Rs. 600,000.

• Free ATM withdrawals from any bank’s ATM in India and abroad.

• Complimentary movie tickets through bookings on BookMyShow.

• Minimum 20% off at the partner restaurants.

• Personal Accident Insurance Cover of Rs. 15 lakh and air accident cover of
Rs. 1 crore.

• The customers can enjoy 3 complimentary airport lounge visits per quarter
at specified air lounges.

2. Priority Platinum Debit Card

This one of a kind debit card, specially designed for exclusivity, comes loaded with
some of the most exciting and rewarding features and benefits, so you can make
the most of every transaction.

• Let’s the customers enjoy up to 25% cash back on movie bookings done not
only online but also at the cinema box office with their debit card.

• Enjoy a daily cash withdrawal limit of Rs 1 lakh and a daily purchase limit
of Rs 4 lakh.

• Withdraw cash from any ATM across India, totally free of charge.

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 • Save more with each fuel purchase using your Priority Debit Card as it
provides customers with fuel surcharge waiver of up to Rs 200 each month.

• Enjoy discounts of over 15% at over 4,000 restaurants across India.

• Customers can print an image of their choice or choose from a gallery of

exciting images which they can get printed on their Priority Debit Card.

• Personal Accident Insurance Cover of Rs 5 lakh; Zero Lost Card Liability

which insures you against any loss occurring due to fraudulent use of a lost
or stolen card and Purchase Protection (for a period of 90 days from date of
purchase) against fire, theft, natural calamity, burglary, housebreaking for
all consumer durable goods purchased with the debit card.

• Complimentary access to some of the finest airport lounges across India.

3. Prestige Debit Card

The Prestige Debit Card presents the customers with an exclusive cashback offer
on their Shopping, Travel and Fuel purchases. Enjoy 1-2-3% cashback on Fuel,
Shopping and Travel spends respectively. Other benefits include complimentary
INOX Movie tickets, higher transactional limits in the range of up to 1 lakh for
daily withdrawal, up to Rs.5 Lakhs for daily purchase and a special insurance cover
of Rs.10 Lakhs for customer and their family.

• The customers get 3% cashback on travel and hotel bookings, 2% on

shopping and 1% on fuel transactions.

• Daily withdrawal limit of Rs. 100,000 and purchase limit of Rs. 500,000
with this debit card.

• The customers can also avail air accident cover of Rs. 1 crore.

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KEY FINDINGS

1. The customers can customize and craft their own Axis Bank debit card with
MyDesign

2. The Axis Bank debit card offers higher withdrawal and purchase transaction limits
on every Axis Bank debit card.

3. The Axis bank card also offers complimentary access to VIP airport lounges.

4. Fuel surcharge waivers at petrol bunks across India is given if the customers own
Axis Bank debit card.

5. Enhanced insurance coverage for the primary debit card holder is offered by Axis
Bank.

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DEPOSITS

SR. No. AXIS BANK BANK OF BARODA

1 Fixed Deposit Baroda Samriddhi Deposit

2 Recurring Deposit Fast Access Deposit Scheme

3 Tax Saving Fixed Deposit BOB Suvidha Fixed Deposit

Scheme
4 ENCASH 24- Flexi Deposits Regular Income Plan

5 Fixed Deposits Plus Monthly Income Plan

6 Regular Income Cum Recurring

Deposit
7 Baroda Tax Savings Term Deposit

8 Term Deposits

VARIANTS 5 8

When it comes to providing the deposits to the customer, Bank of Baroda provides more
variants than Axis Bank.

Bank of Baroda provides additional deposits according to the income plans of the
customers.

Both the banks also provide similar variants like Recurring Deposit, Fixed deposit and Tax
saving deposit, but at different Rate of Interests.

BANK OF BARODA DEPOSITS

1. Regular Income Plan

• The regular income plan offers to provide customers with supplementary

income on a monthly, quarterly, half-yearly or yearly basis as per the
customer’s directions.

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 • The plan is ideal for income appreciation and additional earnings to help the
customers with financial management going forward.

• The scheme also offers liquidity by allowing the customers to withdraw up

to 95% of the overall value of deposits.

• Premature withdrawal is allowed on completion of 1 year of the deposit

tenure since the date of inception. Premature withdrawals made up to Rs.5
lakhs will not attract any penalty and you will continue to accrue interest at
defined rates. However, premature withdrawal of higher amounts will result
in a penalty, which is 1% less interest rate on the deposits compared to the
original quoted rate.

Account Type Single/Joint

Amount Min- Rs. 1000, with subsequent withdrawals in multiples of Rs.100
Max- N/A
ROI Min- 6.75% p.a.
Max- 7.75% p.a.
Tenure Min- 12 months
Max- 120 months
TDS Interest rates are subject to TDS. TDS should be paid as per rules
laid down by the Income Tax Department
Auto Renewal Yes, unless otherwise mentioned
Nomination Yes

2. Monthly Income Plan Deposit

• The Monthly Income Plan is tailored to help individuals supplement their

monthly income and inculcate a habit of savings. The interest earned on the
deposit becomes another source of income, making it ideal for the
individual to be equipped in case of any emergency.
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 • There are no formalities as concerns with overdrafts or withdrawals, and so
a maximum of 95% of the amount can be withdrawn.

• There is no penalty levied by the bank in case of premature payment

deposits of up to Rs 5 lakh, provided it has completed the minimum term of
12 months.

Account Type Single

Amount Min- Rs. 1000
Max- Rs. 500,000
ROI Min- 4% p.a.
In case of senior citizens, additional 0.50% per annum
Tenure Min- 12 months
Max- 120 months
TDS Interest rates are subject to TDS. TDS should be paid as per rules
laid down by the Income Tax Department
Nomination Yes

3. Regular Income cum Recurring Deposit

• With the Regular Income cum Recurring Deposit scheme offered by Bank
of Baroda, customers can enjoy an increasing interest rate with longer
deposit tenures. With compound interest applied to the principal amount,
savings grow faster.

• In case the amount is withdrawn before the tenure is over, the bank will not
levy any penalty. However, the bank allows premature withdrawal only in
case of premature payment deposits of up to Rs 5 lakh, provided the
minimum term of 12 months has been completed.

• The customer can withdraw a maximum of 95% of the amount.

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 • The interest is compounded on a quarterly basis and credited to the
customer’s account once in 6 months. The scheme offers the comfort of
liquidity, along with security for the money.

Account Type Single

Amount Min- Rs. 1000
Max- Rs. 500,000
ROI Min- 4% p.a.
In case of senior citizens, additional 0.50% per annum that amounts
to 4.50% per annum
Tenure Min- 12 months
Max- 120 months
TDS Interest rates are subject to TDS. TDS should be paid as per rules laid
down by the Income Tax Department
Nomination Yes

AXIS BANK DEPOSITS

1. Fixed Deposits

Axis Bank offers simple reinvestment Fixed Deposits (at very competitive interest
rates), which can be opened with a minimum amount of Rs.5000 for a flexible
tenure starting from a minimum of 7 days to a maximum of 10 years.

The amount is of minimum Rs. 5000 if booked online through internet banking or
mobile banking and minimum of Rs.10, 000 if booked via Branch.

The interest accrued on the deposit each quarter, is invested back along with the
principal and the interest is calculated on the total sum after deducting the Tax
Deducted at Source i.e. TDS.

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 Also, it is easy to move amount to the Fixed Deposit from the Savings account in
order to earn a higher interest. For the Fixed Deposits with the tenure of 6 months
or more, the interest is calculated quarterly.

2. Recurring Deposit

Axis Bank helps in building the savings of the customer through systematic
deposits every month. The Recurring Deposit can be opened online with minimum
monthly instalments of Rs. 500 while the maximum can run into multiples thereof
with no maximum limit. The interest can be earned for a minimum tenure of 6
months or a maximum of 10 years on the deposit.

• The fixed numbers of installments for which a depositor can opt are 12, 24,
36, 39, 48, 60, 63, 72, 84, 96, 108 and 120 months.

• Transfer of Accounts - a recurring deposit account can be transferred from

one office of the Bank to another branch.

• The amount of installment once fixed, cannot be changed.

• Installment for any calendar month is to be paid on or before the last

working day of the month.

• The total amount repayable to a depositor, inclusive of interest, depends on

the amount of monthly installments and the period of deposit.

3. Tax Saver FD

In the Finance Bill of 2006, the government had announced Tax benefits to Bank
Term Deposits which are of over 5 year tenure u/s 80C of IT Act, 1961.

Features of this FD:

• Tax benefits on the interest earned on 5-year deposits.

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 • The customer can choose from the schemes the customer wants i.e. quarterly
compounding/ reinvestment of interest scheme, quarterly payout of interest
scheme and monthly payout interest scheme.

• The customer can invest between the limits i.e. minimum Rs. 100 or its
multiples up to maximum limit of Rs. 1, 50,000.

• The customer has the liberty to decide between single or joint holder type
deposits.

• Tax benefits can be claimed through FD receipt issued by the bank.

4. Encash 24- Flexi Deposit

Axis Bank’s Encash 24 Flexi Deposit links the existing Savings Account to the
Fixed Deposit. This facilitates automatic transfer of money in multiples of Rs. 5,000
to a Fixed Deposit when the balance in the Savings Account crosses Rs. 25,000.
With Encash 24 Flexi Deposit, the customer can open a Fixed Deposit for a
maximum tenure of 5 years or avail short term benefit with a minimum tenure of 6
months.

• No premature encashment penalties.

• Money can be accessed easily via Cheque or ATM withdrawal.

• Facility to auto renew the deposit which is booked under Encash 24.

• The TDS is deducted according to the Income Tax regulations prevailing.

5. Fixed Deposit PLUS

Axis Bank’s Fixed Deposit Plus gives the customers a higher rate of return
compared to regular FDs and the option is also available to all NRI and domestic
customers. The interest rate is available on a simple or compounding basis for a
minimum amount of Rs. 5, 00, 00,000.

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 • No maximum limit of the deposits, and is available for all the retail and
corporate customers.

• The tenure can be customized starting from 7 days to 10 years. No Auto-

renewal allowed.

• Interest calculation method is a choice for customers.

• The customer is free to decide between single or joint holder types.

• The customer is free to choose his deposit type i.e. short term, reinvestment
or monthly and quarterly payout.

KEY FINDINGS

• The Axis Bank provides FDs with attractive rates of interest which is more as
compared to Bank of Baroda.

• Axis bank provides the facility of seamless fund transfer between accounts.

• Axis Bank offers easy deposit transfer from one branch to another without any
charges.

• Higher interest rates for NRI deposits are also provided by Axis Bank.

• With the help of Encash24-Flexi Deposits provided by Axis Bank, the money can
be easily withdrawn through cheque or ATM.

• Axis Bank provides an option of creating FDs through Mobile Banking and Net
Banking.

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 RESEARCH 2

SURVEY ON THE COMPARATIVE ANALYSIS

OF THE SERVICES GIVEN BY DIFFERENT
BANKS

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LITERATURE REVIEW

• Uppal R K and Poonam Rani (2012), in their study titled Customer Perception
towards Better Banking Services in India- An Empirical Study, analyzed customer
perception about CRM, reliability, accuracy, security and transparency among the
customers of public sector banks, Indian private sector banks and foreign banks in
Amritsar, Punjab. They have found that most of the customers are satisfied with
banking services and that customer satisfaction can be improved by ensuring more
speed in rendering transactions and giving prompt services.

• Parimal Vyas (2000) studied customers’ satisfaction from the services provided by
different banks and analyzed the response of customers towards the actual time
taken by banks to complete the banking transactions. The findings of the study
revealed that nationalized banks and co-operative banks need to improve on
reducing the time taken to complete banking transactions. Comparatively the
private and foreign banks take much less time for completing their transactions.
The study suggested that the nationalized commercial banks and cooperative banks
must increase the use of information technology and customer relationship
management to deliver standardized services to their target customers.

• Krishna Priya (2011) studied customer satisfaction towards the products and
services of axis bank and analyzed the responses of the customers towards services
given by AXIS Bank to its customers. The findings of the study revealed that people
are satisfied with the services and thus consider Axis Bank as a leading bank in
service quality.

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DURATION OF THE PROJECT: 2 months (19th April, 2019- 18th June, 2019)

OBJECTIVES OF THE STUDY

Banking and finance are termed as the backbone of the economic system as they accelerate
the process of economic development in the country. Economic development determines
the growth and development of banking institutions.

The main objective of this study was to know which bank tops in terms of the services and
also what are the areas of improvement for the banks. Some of the major objectives of the
study included:

1. Consumer preference about the services.

2. The difference in terms of service between the public sector and the private sector.

3. Customer satisfaction in terms of service provided by the bank.

4. Drawing the conclusion and generating the suggestions for the same.

5. To understand the extent to which the customer expects from a bank.

6. For improving services and customer relationship management practices (CRM).

7. Useful for the prospective customers who want to invest in the banks.

Because of the following reasons, I prefer this project work to get the knowledge of the
banking system.

• Banking is a very essential industry.

• It is an organization on whom we trust and where we often seek advice in case of

any financial crisis and money related query.

• Banking is one of the most regulated and trustworthy businesses in the world.

• It is vital system for developing economy for the nation.

• Banks can play a dynamic role in delivery and purchase of consumer durables.

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RESEARCH METHODOLOGY

Research is one of the most important parts of any study and it pertains to the collection of
the information and knowledge. The research was conducted to derive the result regarding
the services that are provided by Axis Bank in comparison to the other private and public
bank. Also, a questionnaire was made and circulated among the people with a sample size
of 100 and the result was derived at accordingly.

My project has been developed on has basis of both exploratory and descriptive research.
The research process depends upon developing the most efficient plan for gathering the
needed information. Designing a research plan calls for decisions on the data sources,
research approaches, research instruments, sampling plan, and contact methods.

SAMPLE SIZE AND METHOD OF SELECTION

I chose a sample size 100 respondents which were customers of various banks. The method
followed was simple random sampling.

Data Source
For the survey I used the Primary data. This data helped me in making my research much
more sensible and also helped me in deriving at the best possible results to my project.

• Primary data are data freshly gathered for a specific purpose. For my project work
the primary data was collected by means of survey though questionnaires which
were filled by various people to avoid a skewed data.

SCOPE OF THE STUDY

The research mainly focused on the comparison of the services that are offered by the Axis
Bank. The base for this research is kept as Axis Bank. The various services provided by
Axis Bank include:

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Services: ATM (Automated Teller Machine)

Mobile Banking

Internet Banking

Payments

Other Services

The study has been done on the following parameters and the results have been derived on
the same basis.

LIMITATIONS OF THE STUDY

• The study is based on a very modest sample size hence it cannot be considered as
a representation of views and opinions of the majority.

• Currently, the industry changes very rapidly and so analysis can change in a day or
two in a particular segment. The environmental changes are vital to be considered
at the time of analysis which are subject to change.

• The conclusions or the results derived at are based on a limited sample size and so
these are subject to changes.

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ANALYSIS OF THE QUESTIONNAIRE

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QUESTION- 1- GENDER

Count of Gender

48.00% Female
52.00% Male

QUESTION 2- AGE

Count of Age
4.00%
6.00%

18-25
26-35
32.00% 36-45
58.00%
46 and above

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After looking this graph, it can be said the middle-aged group are the main customer of the
banks as they occupied almost 58% and 32% of this graph. The banks have a huge potential
in terms of the untapped market – old age group people.

To tap those markets, the banks must give an option of such accounts which provide
benefits in the future to people or to the senior citizens while working as well as after that.

QUESTION 3- OCCUPATION

Count of Occupation
3.00%

Housewife
38.00%
Salaried

49.00% Self- Employed

Student

10.00%

Most of the service class people prefer to open a Savings Account in comparison to the
business class people. This may be possible due to the facility of “Anywhere Banking”
suiting their needs and preferences.

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QUESTION 4- INCOME

Count of Please specify your annual income.

NIL 23.00%

Less than 50,000 p.a. 11.00%

500,000 and above 18.00%

50,000 to 100,000 p.a. 6.00%

300,000 to 500,000 p.a. 12.00%

100,000 to 300,000 p.a. 30.00%

0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00%

Income does not make any difference as far as opening the account in the Banks is
concerned, as the diagram is vividly revealing that more or less people of every segment
of income group have opened and are opening the account expect one group i.e. lower
income group where emphasis is required to penetrate this group so it can be said that the
target group of the banks, especially for saving account are of every segment of income
group since it is devoted to render best services to its costumer.

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QUESTION 5

In which bank do you own your bank account?

26

41 AXIS
HDFC
SBI
10 OTHERS

23

Around 41% i.e. the maximum of the respondents were of Axis Bank. HDFC stood at 23%,
SBI stood at 10% and other banks like ICICI, BOI, and BOB etc. stood at 26%.

QUESTION 6
Reason for choosing this bank.

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Out of all the 100 respondents, 43% of the respondents voted for Ease of Access because
currently every bank offers the facility of net banking and mobile banking which brings
banking on the finger tip of the customer.

Other reasons include nearness to house/office at 23% and salary account at 23%.

The Axis Bank customers are very satisfied with the services because the bank has
customer friendly services like internet banking and mobile banking which is very useful
for those who gave busy schedules. The private sector banks have easy services as
compared to the public sector banks.

QUESTION 7
What kind of account do you maintain in this bank?

71% of the respondents had Savings Account in their respective banks. The maximum of
the Axis Bank’s respondents also hold Savings Account in the bank. The Savings account
are the backbone of every bank, as an ordinary man is most inclined to invest in it due to
its convenience and easy availability.

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Other accounts held by customers included Demat account, fixed deposits and current
account.

QUESTION 8
What features/attributes, while opening an account do you expect from a bank?

As a customer, everyone looks for quick and prompt services to their issues and concerns.
That is exactly what is done by Axis Bank. While opening an account with any bank, the
customer wants quick services.

51% of the customers voted for Quick services and less formalities in terms of documents.
The private sector banks lead in this as they use the technology in providing best services.

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QUESTION 9
Did you feel any difficulty in opening the account?

96% of the respondents did not find any difficulty in opening the account in banks. They
were completely satisfied with the account opening procedure and were given services at
their doorstep.

The 4% people who faced the difficulty belonged to the group which had their account in
the public sector banks and they complained of lengthy procedure and personal visit to the
banks for opening the account. Also, they were not given proper guidance about the
advantages of the account.

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QUESTION 10
Are you satisfied with your bank in terms of products and services?

95% of the respondents were satisfied in terms of the products, services and the guidance
given by the banks to them. The 5% of the respondents who own their respective accounts
in public sector banks were not satisfied in terms of the services given.

Also, when asked whether they would like to switch their bank accounts to private banks,
some of them were positive about it, while the others were not as they find the public sector
banks safe and trustworthy.

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QUESTION 11
Do you use “Mobile Bank” or "Net Banking" services of your respective bank?

93% of the respondents agreed on using Mobile and Internet banking as it made life easier
and every service is at their fingertips. This is one of the major advantage of the private
sector banks as they value the time of customers and thus make sure that the customer need
not visit the branch of their respective banks for small issues.

The remaining 7% of the respondents were a mix of the people who have an account in
private sector bank and still do not use the services and the ones who have accounts in the
public sector banks. The reason why the public sector bank people do not use these services
is that none of their queries is solved through these online mediums and they ultimately
have to visit the branch for solving the queries.

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QUESTION 12
Do they charge unnecessarily for not maintaining minimum balance in your account?

68% of the respondents were positive about the fact that they are not charged unnecessarily
by the banks for not maintaining the minimum balance. Whereas 14% of the people believe
that they are charged unnecessarily and that too without any prior notice given.

These respondents claim that they are not given the list of charges that will be or can be
levied for not maintaining the required balance.

18% of the respondents were not sure if they are charged or not, and few of these are not
even bothered if they are charged.

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QUESTION 13
Do you consider the charges levied by the bank are reasonable? (Answer only if you
marked yes as the answer to above question)

Close to 57% of the respondents believe that the charges that are levied by the bank are
reasonable and they are informed about the same.

The remaining 44% believe that the charges are not legible and that they must at least be
informed in advance.

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QUESTION 14
Do you get prompt attention and efficient service across the counter?

90% of the respondents agree with the fact that they get solutions to their queries very
promptly and do not have to wait for long. These people are very much satisfied with the
quality to service provided.

The remaining 10% of the people disagree with this and are never given a solution to their
problems in on visit.

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QUESTION 15

Do you get appropriate information provision about account operation?

94% of the respondents were satisfied with the services given by staff and were happy with
their respective banks.

6% deny the fact that they are given proper information and feel that the banks hide certain
things from its customers which is not good for the bank.

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QUESTION 16
What do you feel about overall service quality of your bank?

Maximum respondents gave a positive reply to this question but yet there are a few people
who are not happy and prefer to switch.

QUESTION 17
Would you recommend this bank to your friends, relatives, associates?

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95% of the respondents agreed with the fact of recommending this bank to others due to
their own good experience, but the other recommend to rather opt for other banks as they
are not fully satisfied with the service quality of banks.

QUESTION 18
What are the areas of improvement for your respective bank?

When asked about the areas of improvement, maximum people voted for technologically
updating and better customer service.

Being technologically updated will help the bank to retain its existing customers and also
it will be a great help to customers. Also, customer demand easy and prompt service and
so there must be certain rules made for the same.

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QUESTION 19
In comparison to other banks, how would you rate your bank?

Maximum respondents are happy with their banks and do not plan to switch. All they
require is that the customer service must improve in order to retain them.

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CONCLUSION

• The study mainly was on the customer orientation that how they think, what they
want from their banks and how they take decision going to any bank.

• As per the study, people find the private sector banks much more convenient when
comes to providing them the services.

• In this study I found that the bond of Axis Bank with its customers is very strong,
because Axis Bank mainly focuses on retaining their customers.

• As per the survey, the customers are very much satisfied with the services of Axis
Bank.

The project has been done on the customer’s satisfaction towards the products and services.
The analysis was done based on the information collected in the form of questionnaire from
the customers of the bank.

The major part of the analysis is based upon the percentage analysis. After a brief analysis
few findings were derived. Based on findings the suggestions and the conclusion were
made.

RECOMMENDATIONS

• The banks must give proper attention towards the customer’s problems as
maximum people voted for improvement in customer service.

• E-service facility and transformation of banks in the semi-urban and rural areas.

• To arrange some training programs for the customers regarding the products &
services and can taught about the usage.

• Advertisements regarding the launch of new products and services and how those
services can be rendered must be issued by banks.

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ATTACHMENTS- GOOGLE FORM LINK

https://docs.google.com/forms/d/1BAFrXvi6lWw5FMhi47XjS3VjrwcqYwtA5KhhTVz6
nAg/edit

QUESTIONNAIRE

Name *

Gender *

Female

Male

Age *

18-25

26-35

36-45

46 and above

Occupation *

Student

Salaried

Self- Employed

Housewife

Retired

Please specify your annual income. *

Less than 50,000 p.a.

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 50,000 to 100,000 p.a.

100,000 to 300,000 p.a.

300,000 to 500,000 p.a.

500,000 and above

NIL

In which bank or banks do you own your account? *

HDFC Bank

Axis Bank

SBI

ICICI Bank

Other:

What is the reason for choosing this bank as your bank? *

Incentive Schemes

Nearness to office/house

Ease of Access

Company Salary Account

Other:

What kind of account do you maintain in this bank? *

Savings Account

Current Account
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 Demat Account

Fixed Deposit

Other:

What features/attributes, while opening an account do you expect from a bank? *

Quick Services

Variety of products

Less formalities of documents

Proper information

Did you feel any difficulty in opening the account? *

Yes

No

Are you satisfied with your bank in terms of products and services? *

Yes

No

Do you use “Mobile Bank” or "Net Banking" services of your respective bank? *

Yes

No

Do they charge unnecessarily for not maintaining minimum balance in your account? *

Yes

No

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 Not Sure

Do you consider the charges levied by the bank are reasonable? (Answer only if you
marked yes as the answer to above question)

Yes

No

Do you get prompt attention and efficient service across the counter? *

Yes

No

Do you get appropriate information provision about account operation? *

Yes

No

What do you feel about overall service quality of your bank? *

Excellent

Very good

Good

Fair

Poor

Would you recommend this bank to your friends, relatives, associates? *

Yes

No

What are the areas of improvement for your respective bank? *

Products

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 Customer Service

Technology

Relationship

In comparison to other banks, how would you rate your bank? *

Excellent

Good

Fair

Poor

RESPONSES LINK

https://docs.google.com/spreadsheets/d/1s8jC0n5mn6QusryGkQF01jhFch2JAnhNYtOBHhScXd
A/edit?usp=forms_web_b#gid=721238179

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BIBLIOGRAPHY

Https://www.axisbank.com/about-us/corporate-profile
Https://www.bankofbaroda.in/index.htm
https://www.axisbank.com/about-us/business-overview
https://www.axisbank.com/about-us/vision-and-values
https://www.paisabazaar.com/bank-of-baroda/

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