SUMMER TRAINING PROJECT

REPORT
ON

“CUSTOMER SATISFACTION AT ORIENTAL BANK OF

COMMERCE”

Towards Partial Fulfillment of Bachelor of Business Administration

Session (2017-2020)

SUBMITTED TO: SUBMITTED BY:

Kurukshetra university, Rajat kumar

Kurukshetra BBA

Roll no._________

(SETH JAI PARKASH MUKAND LAL INSTITUTE OF ENGINEERING AND

TECHNOLOGY, RADAUR)

78
 CERTIFICATE OF COMPLETION

This is to certify that Mr. Chandrakanta Panigrahi is a bonafide student, Roll No. :-07 of MBA (BA)
program of the university in this institute for the year 2008-10. As a part of the University curriculum, the
student has completed the project report titled “CUSTOMER SATISFACTION” at “ORIENTAL BANK
OF COMMERECE”.

The project report is prepared by the student under the guidance of Dr. Kirti Gupta.

(Teacher Guide) Program Co-ordinator Director

Date:

Place:

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 PREFACE

Summer training is a very important part of an BBA curriculum. It provides an optimistic

iconography for ‘Future’ existence through which students are able to see the real industrial
environment which gives an opportunity to relate theory with practice.

I undertook two months training programme at Oriental Bank of Commerce

(KURUKSHETRA) and worked on the project “Customer Satisfaction at OBC “. This report
is the knowledge acquired by me during this period of training.

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 ACKNOWLEDGEMENT

Before I get into the depth of the thing, I would like to add a few heartfelt words for
the people who at various stages of the project development helped me by their valuable
guidance.

First and foremost I would like to pay my sincere gratitude which I owe to Mrs. HEMA
MIRZI (course coordinator), and Dr. KIRTI GUPTA (project guide), for their valued help
and guidance which they gave me when I needed it the most. It was only due to their sincere help
and efforts that I was able to end up with this project.

I owe special thanks to Dr.NITIN NAIK, Director of “INSTITUTE OF

MANAGEMENT & ENTREPRENEURSHIP DEVLOPMENT,” Pune and Mr. PRADEEP
KUMAR PANDA (Branch Manager, Bhadrak) for his valuable co-operation and guidance in
completing the project work.

Last but not the least; I would like to pay our gratitude to my PARENTS, without their
help and blessing I can’t take a single step in right direction.

Chandrakanta Panigrahi
Roll No. :-07, MBA (BA)

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 DECLARATION

I Rajat kumar, a student of “SETH JAI PARKASH MUKAND LAL INSTITUTE

OF ENGINEERING AND TECHNOLOGY ”, Radaur, and session (2017-20)
bearing Roll No.:-4017045 of BBA and Kurukshetra University Roll no.:-
170005202, hereby declare that the project report entitled “CUSTOMER
SATISFACTION” (ORIENTAL BANK OF COMMERCE) is the outcome of my
own work and the same has not been submitted to any college for the award.

Date:

Place: (RAJAT KUMAR)

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 INDEX

Chapters Content Page No.

1. INTRODUCTION
Introduction to Banking Industry

a. Meaning and Definition

b. Indian Banking Industry

c. Indian Banking System

d. Major Players in India

Introduction of the Company

a. Management Profile

b. Competitors

c. Product and Services

d. Future of Banking in India

e. Achievements and Awards

f. Company Mission, Vision and Value

Introduction To Consumer Satisfaction

a. Customer Satisfaction

b. Benefits of Customer Satisfaction

c. Customer Satisfaction Survey

d. Customer Satisfaction Process

2. LITERATURE REVIEW

3. REASEARCH METHODOLOGY

a. Objective of the study

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 b. Statement of the problem

c. Research Design

d. Research Type

e. Sampling Design

f. Data Collection

g. Methods of Data Collection

h. limitation of the study

4. DATA ANALYSIS AND INTERPRITATIONS

5. FINDINGS AND CONCLUSION
6. SUGGESTION
7. QUESTIONNAIRE
8 BIBLIOGRAPHY

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 CHAPTER-1

INTRODUCTION

 INTRODUCTION TO INDUSTRY

MEANING OF BANKING:

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Bank is an institution that deals in money and its substitutes and provides crucial financial
services. The principal type of banking in the modern industrial world is commercial banking &
central banking.

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 or
otherwise.”

DEFINITION OF BANKING:

“Banking in the most general sense, is meant the business of receiving, conserving and utilizing
the funds of community or of any special section of it”

- By H. Wills & J. Bogan

“A banker of bank is a person, a firm, or a company having a place of business where credits are
opened by deposits or collection of money or currency or where money is advanced and waned.
- By Findlay Sheras
A Bank:
 Accepts deposits of money from public.
 Pays interest on money deposited with it.
 Lends or invest money.
 Repays the amount on demand.
 Allow the money deposited to be withdrawn by cheque or draft.

ORIGIN OF BANKING:

Its origin in the simplest form can be traced to the origin of authentic history. After recognizing
the importance and benefits 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 ultimately evolved in
financial institutions that accepts deposits and make loan i.e. modern commercial banks.

INDIAN BANKING INDUSTRY:

The banking sector is the most dominant sector of the financial system in India. Significant
progress has been made with respect to the banking sector in the post liberalization period. The

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financial health of the commercial banks has been improved manifolds with respect to capital
adequacy, profitability, and asset quality and risk management. Further, deregulation has opened
new opportunities for banks to increase revenue by diversifying into investment banking,
insurance, credit cards, depository services, mortgage, securitization, etc. liberalization has
created a more competitive environment in banking sector.

The Banking Codes and standards Board of India is an independent and autonomous banking
industry body that monitors banks in India. To improve the quality of banking services in India S
S Tarapore (former deputy governor of RBI) had the idea to form this committee.

As per the Reserve Bank of India (RBI), India’s banking sector has sufficient capital and well-
regulated. The financial and economic conditions in the country are far superior to any other
country in the world. Credit, market and liquidity risk studies suggest that Indian banks are
generally resilient and have withstood the global downturn well.

Indian banking industry has recently witnessed the roll out of innovative banking models like
payments and small finance banks. RBI’s new measures may go a long way in helping the
restructuring of the domestic banking industry.

FUNCTIONS OF BANKS

Primary functions

 Acceptance of deposits
 Making loans & advances
 Overdraft
 Credit cards
 Discounting of bills of exchange

Secondary functions

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 Agency functions
Collection of cheques and bills
Collection of interest and dividends
Making payments on behalf of customer
Purchase and sale of securities
Facility of transfer of funds
To act as trustee and executor

Utility functions

Safe custody of customers valuable articles and securities

Underwriting facilities
Facility of foreign exchange
Providing trade information
Provide information regarding credit worthiness to customers

STRUCTURE

The Indian banking system can be classified into nationalized banks, private banks and
specialized banking institutions. The industry is highly fragmented with 30 banking units
contributing to almost 50% of deposits and 60% of advances. The Reserve bank of India is the
foremost monitoring body in the Indian financial sector. It is a centralized body that monitors
discrepancies and shortcomings in the system.

Banking sector in India functions under the umbrella of RBI – the regulatory, central bank. This
segment broadly consists of:

1. Commercial banks
2. Co-operative banks

INDIAN BANKING SYSTEM

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MAJOR PLAYERS IN INDIA

1. HDFC BANK LTD

2. ICICI BANK LTD
3. STATE BANK OF INDIA LTD
4. PUNJAB NATIONAL BANK
5. BANK OR BARODA
6. FEDERAL BANK
7. CANARA BANK
8. AXIS BANK
9. IDBI BANK
10.YES BANK
11.INDUSIND BANK

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78
 INTRODUCTION TO COMPANY (HDFC BANK)

ORIGIN OF THE ORGANISATION (HDFC)

The Housing Development Finance Corporation limited (HDFC) was amongst the first to receive
an ‘in principle’ approval from the Reserve Bank of India (RBI) to set up a bank in a private
sector, as part of the RBI’s liberalization of the Indian Banking Industry in 1994. The bank was
incorporated in August 1994 in the name of ‘HDFC bank limited’, with its registered office in
Mumbai, India. HDFC bank commenced operations as a scheduled commercial bank in January
1995.
HDFC is India’s premier housing finance company and enjoys an impeccable track record in
India as well as in international markets. Its outstanding loan portfolio covers well over a million
dwelling units. HDFC has developed significant expertise in retail mortgage loans to different
market segments and also has a large corporate client base for its housing related credit
facilities.HDFC has installed state-of-the-art systems to facilitate inter-connectivity between
branches and link up with on line system. The bank has also recently signed up as a depository
participant, under the newly set up NSDL, wherein the members clearing accounts settlement for
dematerialised shares can be done through the bank. HDFC Bank, one of the nine new-
generation private sector banks, has planned to set up an all-India on-line automated teller
machine (ATM) network.HDFC Bank proposed to launch tele-banking for the first time in June
in Mumbai at its Chandiveli branch. HDFC Bank has drawn up plans to become a niche player in
corporate banking by sticking to top-rung corporate. HDFC Bank has become the first private
sector bank to conclude a structured interest rate option deal.
HDFC Bank, as part of its expansion plans in the South, has opened another branch in Chennai.

GROWTH AND DEVELOPMENT OF THE ORGANISATION

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HDFC is headquartered in Mumbai.As of March 31, 2018, the Bank's distribution network was
at 4,787 branches across 2,691 cities. All branches are linked online on a real-time basis.
Customers across India are also serviced through multiple delivery channels such as Phone
Banking, Net Banking, Mobile Banking, and SMS based banking. The Bank's expansion plans
take into account the need to have a presence in all major industrial and commercial centers,
where its corporate customers are located, as well as the need to build a strong retail customer
base for both deposits and loan products. Being a clearing / settlement bank to various leading
stock exchanges, the Bank has branches in centers where the NSE / BSE have a strong and active
member base. The Bank also has a network of 12,635ATMs across India. HDFC Bank's ATM
network can be accessed by all domestic and international Visa / MasterCard, Visa Electron /
Maestro, Plus / Cirrus and American Express Credit / Charge cardholders.

In a milestone transaction in the Indian banking industry, Times Bank Limited was merged with
HDFC Bank ltd. Effective February 26, 2000. As per the scheme of amalgamation approved by
the shareholders of both banks and the Reserve Bank of India, shareholder of Times Bank
received 1 share of HDFC bank for every 5.75 share of Times Bank.

MISSION, VISSION AND OBJECTIVES

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 MISSION AND VALUES:

The mission of HDFC is to become ‘a world class Indian bank’, benchmarking themselves
against international standards and best practices in terms of product offerings, technology,
service levels, risk management and audit and compliance.

The objective is to build sound customer franchises across distinct business so as to be a

preferred provider of banking services for target retail and wholesale customer segments and to
achieve a healthy growth in profitability, consistence with the bank’s risk appetite.
HDFC Bank’s business philosophy is based on five core values: operational excellence,
customer focus, product leadership, people band sustainability.

 HDFC Bank’s Business Objectives:

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 Increase their market share in India’s expanding banking and financial services industry by
following a disciplined growth strategy and delivering high quality customer service.
 To deliver more products to more customers and to control operating costs.
 Maintain their current high standards for asset quality through disciplined credit risk
management.
 Develop innovative products and services that attract our targeted customers and address
inefficiencies in the Indian financial sector.
 Focus on high earning growth with low volatility.
 Continue to develop product and services that reduce the cost of funds.

MANAGEMENT AT HDFC

S. NO. NAME DESIGNATION

1. Shyamala Gopinath Chair person

2. Mr. Aditya Puri Managing director
3. Paresh Sukthankar Deputy managing director
4. A N Roy Director
5. Keki Mistry Director
6. Reny Karnad Director
7. Bobby Parikh Director
8. Partho Datta Director
9. Malay Patel Director
10. Kaized Bharucha Executive Director
11. Umesh Chandra Sarangi Additional Director

TECHNOLOGY

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HDFC Bank operates in a highly automated environment in terms of information technology and
communication systems. All the bank branches have online connectivity, which enables the bank
to offer speedy funds transfer facilities to its customers. Multi branch access is also provided to
retail customers through the branch network and Automated Teller Machines (ATMs).

The bank has made substantial efforts and investments in acquiring the best technology available
internationally, to build the infrastructure for a world class bank. In terms of core banking
software, the corporate banking business is supported by Flexcube, while the retail banking
business by finware, both from i-flex solution ltd. The systems are open, saleable and web-
enabled.

The bank has prioritized its engagement in technology and the internet as one of its key goals
and has already made significant progress in web-enabling its core businesses. In each of its
businesses, the bank has succeeded in leveraging its market position, expertise and technology to
create a competitive advantage and build market share.

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BUSINESS PROFILE

HDFC Bank caters to a wide range of banking services covering commercial and investment
banking on the wholesale side and transactional/branch banking on the retail side. The bank has
three key business segments:

(A)WHOLESALE BANKING:

The Bank's target market is primarily large, blue-chip manufacturing companies in the Indian
corporate sector and to a lesser extent, small & mid-sized corporate and agri-based businesses.
For these customers, the Bank provides a wide range of commercial and transactional banking
services, including working capital finance, trade services, transactional services, cash
management, etc. The bank is also a leading provider of structured solutions, which combine
cash management services with vendorand distributor finance for facilitating superior supply
chain management for its corporate customers. Based on its superior product delivery / service
levels and strong customer orientation, the Bank has made significant inroads into thebanking
consortia of a number of leading Indian corporate including multinationals, companies from the
domestic business houses and prime public sector companies. It is recognized as a leading
provider of cash management andtransactional banking solutions to corporate customers, mutual
funds, stock exchange members and banks.

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(B)RETAIL BANKING:

The objective of the Retail Bank is to provide its target market customers a full range of financial
products and banking services, giving the customer a one-stop window for all his/her banking
requirements. The products are backed by world-class service and delivered to customers
through the growing branch network, as well as through alternative delivery channels.
The HDFC Bank Preferred program for high net worth individuals, the HDFC Bank Plus and the
Investment Advisory Services programs have been designed keeping in mind needs of customers
who seek distinct financial solutions, information and advice on various investment avenues. The
Bank also has a wide array of retail loan products including Auto Loans, Loans against
marketable securities, Personal Loans and Loans for Two-wheelers. HDFC Bank was the first
bank in India to launch an International Debit Card in association with VISA (VISA Electron)
and issues the MasterCard Maestro debit card as well. The Bank launched its credit card business
in late 2001. By March 2015, the bank had a total card base (debit and credit cards) of over 25
million. The Bank is also one of the leading players in the "merchant acquiring" business with
over 235,000 Point-of-sale (POS) terminals for debit / credit cards acceptance at merchant
establishments. The Bank is well positioned as a leader in various net based B2C opportunities
including a wide range of internet banking services for Fixed Deposits, Loans, Bill Payments,
etc.

(C)TREASURY:

Within this business, the bank has three main product areas - Foreign Exchange and Derivatives,
Local Currency Money Market & Debt Securities, and Equities. With the liberalization of the
financial markets in India, corporate need more sophisticated risk management information,
advice and product structures. These and fine pricing on various treasury products are provided
through the bank's Treasury team. To comply with statutory reserve requirements, the bank is
required to hold 25% of its deposits in government securities. The Treasury business is
responsible for managing the returns and market risk on this investment portfolio.

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FUNCTIONAL DEPARTMENT OF THE ORGANISATION

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ORGANISATIONAL STRUCTURE AND CHART

78
PRODUCTS OF HDFC BANK

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 HDFC bank provides very large range of financial product to the customer for their better
financial transaction. The products of HDFC bank are:

I. SAVING ACCOUNTS

Everyone needs a savings account to store away the surplus cash. The bank offers savings
accounts under various types starting from basic accounts to premium accounts with variety of
features. The interest rates on the saving account are 4% p.a. which is calculated on the end of
the day balance. The following accounts and their respective interest rates are mentioned below:

 Saving Max Account

 Regular Savings Account
 Women Savings Account
 Kids Advantage Account
 Senior Citizens Account
 Family Savings Group Account
 Institutional Savings Account
 BSBDA Small Account
II. SALARY ACCOUNTS

The bank offers multiple types of salary accounts to suit the needs of all types of corporate. The
salary accounts offer various features to the accountholders like free insurance coverage. The
different types of salary accounts are:

 Premium Salary Account

 Regular Salary Account
 Defense Salary Account
 Salary Family Account
 Classic Salary Account
 Reimbursement Account
 Basic Savings Bank deposit Accounts-Salary
III. CURRENT ACCOUNTS

Currents accounts are required by businessmen and professionalwho have regular transactions
through the bank. The account deals mainly in liquid deposits and allows unlimited number of
transactions every day like funds being withdrawn or cheques being written against the without
worrying about the balance in the account. Professionals, traders, SME businessmen, agricultural
businesses can avail benefits like fund transfers between all HDFC Accounts, free local

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 collections through cheque and fund transfers as well as easy inter-city banking. Moreover, the
bank also offers a range of current Accounts to suit individual preferences like:

 ULTIMA current Account

 Supreme Current Account
 Apex Current Account
 EZEE Current Account
 Max Current Account
 Agri Current Account
 Plus Current Account
 Current Account for Hospitals and Nursing Home
 Trade Current Account
 Current account for professionals
 Premium Current account
 Merchant advantage Current Account
 Flexi Current Account
 Institutional Current Account

IV. DEPOSITS

Individuals who wish to save money for a longer term with a view to earn a higher rate of
interest seek to invest money in term deposit accounts which guarantee higher interest rates.
HDFC Bank also offers various types of deposit accounts promising high interest rates for
customers seeking deposit accounts. Here are the deposit accounts available with the bank:

 Regular Fixed Deposit

 Recurring Deposit
 5 Year Tax saving Fixed Deposit
 Safe Deposit Locker- the bank also provides the facility of safe deposit lockers for you to store
your valuable deposits. The lockers are available in various sizes at various locations.

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V. RURAL ACCOUNTS

Accounts offers by the bank to farmers for their banking needs, there are 2 types of rural
accounts available:

 Basic savings Bank Deposit Accounts-Farmers

 Kisan club Savings Account
VI. LOANS

HDFC Bank is a leader in home loan sector and also offers various other kinds of loans at
attractive interest rates for various needs of the individuals. The following types of loans are
available with the bank:

 Personal Loan
 Business Loan
 Home Loan
 Car Loan
 Two –wheeler Loan
 Loan against Assets
 Gold Loan
 Educational Loan
 Government Sponsored Programs
 Rural Loans

VII. CREDIT CARDS

The bank has a wide range of credit cards for customers which promise special offers and
privileges on dining, movies, lounge access of airports etc. the cards also offer Reward points on

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every spending made by the cardholder which can be redeemed for attractive offers. The ranges
of credit cards offered by the bank are as follows:

(a)Super Premium cards- there are 3 various under the Super Premium variety which are:

 Infinia
 Regalia
 Diner’s club black

(b) Co-Brand Credit Cards- these cards are offered in partnership with jet airways and
times group which offer special discounts on airline travel through jet airways and offers on
dining and movie tickets. The range of co-brand cards includes:

 Jet Privilege HDFC Bank World

 Platinum Times Card
 Titanium Times Card

(c) Professional Credit Cards- Credit cards issued specifically to professionals like
doctors and Teachers with best lounge programs and freedom to fill fuels across any fuel
respectively. The cards come in two variants:

 Doctor’s Superia
 Teacher’s platinum

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(d) Premium Travel Cards- these cards are specially designed to offer travel related
benefits and discounts. The cards offer reward points which can be redeemed against air tickets
or against dining and also lounge access of airports. The range includes:

 Superia
 All miles

(e) Cash back cards- the specialty of these cards is that the card promises cash back on
everyday spends in the form of reward points which can be redeemed to get cash back and also
zero fuel surcharge. The range of cash back cards include:

 Platinum Edge
 Titanium Edge
 Money back

(f) Premium cards- credit cards which offer premium range of offers and discounts on
dining, entertainment and complimentary access to airport lounges. The premium range of credit
cards includes the following types of cards:

 World master card

 Diners Club Premium
 Diners Club rewards
 Visa Signature

(g) Solitaire- a premium card especially for women customers with exclusive offers and
rewards for females.

(h) Platinum plus Card- It is a regular credit card designed for regular usage offering
reward points on everyday spends and fuel surcharge waiver.

(i)Commercial Cards-Arrange of credit cards especially designed for business usage

offering fuel surcharge waiver, lounge access to airports, travels and entertainment benefits and
also air tickets discounts. The range of business cards includes:

 Business Platinum
 Business Gold Credit Card
 Corporate Platinum

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  Corporate World Master Card
 Corporate VISA Signature
 Corporate Card
 Purchase Card
 Distributor Card

VIII. Debit Cards

HDFC Bank offers Debit cards with every savings account to customers who are safer than
carrying cash because they require a PIN every time they are used, they provide great discounts
and cash back on fuel, shopping, dining, entertainment etc. and are used across almost all outlets
for payment. The range of debit cards issued by the bank is:

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  Easy shop Platinum Debit Card
 Jet privilege HDFC Bank World Debit Card
 Easy shop Titanium Royale Debit Card
 Easy shop titanium Debit Card
 Easy shop Debit Card
 Easy shop Business Debit Card
 Easy shop NRO Debit Card
 Easy shop Women’s Advantage Debit card
 Easy shop Imperia Platinum chip Debit Card
 Easy shop Gold Debit card
 RuPay premium Debit card

IX. DEMAT ACCOUNT

HDFC Bank issues Demat Account for investors like traders, long term investors as well as
beginners for a flexible and customized solution. The demat account offered by the bank is safe
and dependable for buying and storing a customer’s equity investments, mutual funds, IPOs,
ETF Exchange Traded funds like Gold and Index, bonds and NCDs. The account can also be
opened online and the types of demat accounts offered are as follows:

 Demat Account
 2 in 1 Account
 3 in 1 Account

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X. INVESTMENTS

HDFC Bank deals in various investment avenues to complete the financial portfolio of the
customer like Mutual Funds, Life Insurance Products and General Insurance Products. The
investment products are further subdivided into the following categories:
 Mutual Funds
 Equities& derivatives through HDFC securities Trading Account
 IPO application through ASBA (Application Supported by Blocked Amount)
 Investment in gold through Mudra Pure gold bars which come as 24 karat pure gold bars of
5g, 8g, 10g, 20g, 50g and 100g with assay certification and tamper proof packing.
 8% Savings bond which are risk-free and can be bought with a minimum investment of
Rs.1000
 Sec 54 EC- Capital Gains Bond with a maximum investment of 50 lakhs and tax exemption
on capital gains

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  Inflation Indexed National Savings Securities- Cumulative (IINSS-C) with a minimum
investment of Rs. 5000 and a maximum of Rs. 5 lakh .

XI. INSURANCE

HDFC Bank offers both life and non life products to its customers. The life insurance products
are issued in association with HDFC Life Insurance Company limited and the non-life insurance
products are issued in association with HDFC ergo. The following are the heads of insurance and
their respective plans:

(a) Life insurance

The list of below mentioned plans range from term insurance, endowment insurance and money-
back plans to those of Unit linked Insurance Plans (ULIPs) for a complete insurance products
basket for customers to choose from. The plans available are

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 HDFC Life Click 2 Product Plus Plan- an online term insurance plan with varied options
corresponding to benefits payable.
 HDFC Life Health Assure Plan- a health plan
 HDFC Life Cancer Care- a health plan specifically designed for diagnosis and treatment of
cancer.
 HDFC Life Pension Super Plus- a pension plan which guarantees income after retirement
 HDFC SL Pro Growth Super II – a Unit Linked Plan giving the dual benefit of insurance and
market linked growth for wealth appreciation
 HDFC SL Young Star Super Premium- a Unit Linked Child Plan taking care of your child’s
future while at the same time giving increased benefits in the form of market linked returns.
 HDFC Life Pro Growth Plus- a Unit Linked Insurance Plan
 HDFC Life classic Assure Plus- a limited premium life insurance plan with higher protection
option
 HDFC Life Super Savings Plan- a participating Endowment Assurance plan with built-in
Accidental Death Cover for a comprehensive coverage
 HDFC Life Personal Pension Plus- a pension plan with lifelong pension option and
guaranteed benefit at maturity
 HDFC SL Pro Growth Flexi- a unit linked savings plan with an option to choose accidental
death coverage
 Others –
 HDFC Life New Immediate Annuity Plan
 HDFC Life Smart Woman Plan
 HDFC Life Invest Wise Plan
 HDFC Life Single Premium Pension Super Plan
 HDFC SL Crest
 HDFC Life Super Income Plan
 HDFC Life Sanchay

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 HDFC Life Young Star Udaan
 HDFC SL Pro Growth Maximizes
 HDFC Life Click 2 Invest ULIP
 HDFC Life Sampoorna Samridhi Plus Plan
 HDFC Life Sampoorna Nivesh

(b) Health insurance

Health insurance falls under the purview of general insurance and four types of health insurance
plans are offered by the banks which are as follows:

 Health suraksha- a health plan covering hospitalization, pre and post hospitalization expenses,
day care procedures, domiciliary treatment and organ donor expenses. The coverage can be taken
for an individual and also his family with treatments in a network of 4800+ hospitals.
 Critical Illness Silver Plan- a health plan specifically designed for treatment of critical illness
covering 8 critical illness in its scope of coverage
 Critical Illness Platinum Plan- a critical illness plan which covers 15 critical illness and
provides the benefit upon diagnosis of the covered illness
 Individual Personal Accident Plan II- a personal accident plan which can be taken for self and
family and covers hospitalexpenses, injuries, disability due to accident with a coverage range of
2.5 lakhs to 15 lakhs
(c) Motor insurance
Motor insurance is offered to customers in partnership with HDFC Ergo and there are two types
of motor insurance plans available:
Commercial vehicle insurance- It provides comprehensive coverage for your commercial
vehicle across 1600+ network garages in India.
Private Car Insurance-Insurance coverage for your private car with cashless claims across
1600+ network garages. Moreover, the plan offers discounts based on age and occupation.
(d)Two- wheeler insurance:

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An insurance plan for your two wheeler with a provision of cashless claim across 1600+ network
garages throughout the country.
(e) Travel insurance:
An insurance plan for domestic and international travel be it for business or leisure purposes. The
plan covers emergency medical expenses, emergency medical evacuation, repatriation of
remains, emergency dental expenses, hospital cash, accidental death and permanent total
disability while flying in a common carrier, personal accident, flight delay, loss of baggage and
personal documents, delay of checked-in-baggage, personal liability, financial emergency
assistance, contingency travel benefits and hijack distress allowance.
(f) Home insurance:
An insurance policy issued to protect the home as well as its contents. The plan covers risk
against fire, lighting, explosion, flood, strike, theft with coverage for 1-5 years.

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INTRODUCTION TO THE TOPIC (CONSUMER

SATISFACTION)

MEANING OF CUSTOMER SATISFACTION

Customer satisfaction refers to the extent to which customers are happy with the products and
services provided by a business.

Customer satisfaction levels can be measured using survey techniques and questionnaires

DEFINITIONS:

Definition 1: Customer satisfaction is equivalent to making sure that product and service
performance meets customer expectations.

Definition 2: Customer satisfaction is the perception of the customer that the outcome of a
business transaction is equal to or greater than his/her expectation.

Definition 3: Customer satisfaction occurs when acquisition of products and/or services provides
a minimum negative departure from expectations when compared with other acquisitions.

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Gaining high levels of customer satisfaction is very important to a business because satisfaction
customers are most likely to be loyal and to make repeat orders and to use a wide range of
services offered by a business

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

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

What is clear about customer satisfaction is that customers are most likely to appreciate the
goods and services that they buy if they are made to feel special. This occurs when they feel that
the products and services that they buy have been specially produced for them or for people like
them.

BENEFITS OF CUSTOMER SATISFACTION

The importance of customer satisfaction and support is increasingly becoming a vital business
issue as organization realize the benefits of Customer Relationship Management (CRM) for
providing effective customer service. Professionals working within customer-focused business or
those running call centers or help desks, need to keep informed about the latest customer
satisfaction techniques for running a valuable customer service function. From small customer
service departments to large call centers, the importance of developing a valued relationship with
customers using CRM is essential to support customer and long-term business growth.

What Do Customers Want?

Before we begin to create tools to measure the level of satisfaction, it is important to develop a
clear understanding of what exactly the customer wants. We need to know what our customers
expect from the products and services we provide.

Customer expectations have two types –

 Expressed
 Implied

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Expressed Customer Expectations are those requirements that are written down n the contract
and agreed upon by both parties for example, product specifications and delivery requirements.
Supplier’s performance against these requirements is most of the items directly measurable.

Implied Customer Expectations are not written or spoken but are the ones the customer would
‘expect’ the supplier to meet nevertheless. For example, a customer would expect the service
representative who calls on him to be knowledgeable and competent to solve a problem on the
spot.

There are many reasons why customer expectations are likely to change overtime. Process
improvements, advent of new technology, changes in customer’s priorities, improved quality of
service provided by competitors are just a few examples.

The customer is always right. Supplier’s job is to provide the customer what he/she wants, when
he/she wants it. Customer satisfaction is customer’s perception that a supplier has met or
exceeded their expectations.

WHAT CONSTITUTES SATISFACTION?

We cannot create customer satisfaction just by meeting customer’s requirements fully because
these have to be met in any case. However failing short is certain to create dissatisfaction

Major Attributes of customer satisfaction in banking industry can be summarized as:

 Product quality
 Premium Outflow
 Return on Investment
 Services
 Responsiveness and ability to resolve complaints and reject reports.
 Overall communication, accessibility and attitude.
WHAT ARE THE TOOLS?
Customer expectations can be identified using various methods such as:

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  Periodic contract reviews
 Market research
 Telephonic interviews
 Personal visits
 Warranty records
 Informal discussions
 Satisfaction surveys
Depending upon the customer base and available resources, we can choose a method that is most
effective in measuring the customer’s perceptions. The purpose of the exercise is to identify
priorities for improvements. We must develop a method or combination of methods that helps to
continually improve service.

CUSTOMER SATISFACTION SURVEYS

Formal survey has emerged as by far the best method of periodically the customer satisfaction.
The survey are not marketing tools but an information—gaining tool. Enough homework needs
to be before embarking on the actual survey. This includes:

 Defining Objectives of the Survey

 Design Survey approach
 Develop questionnaires and forms
 Administer Survey (Email, Telephone or Post)
 Method of compiling data and analyzing the findings
 Format of the report to present the findings
There is no point in asking irrelevant questions on a customer satisfaction questionnaire. The
basic purpose is to find out what we are doing right or wrong. Where is the scope for
improvement, where do we stand vis-à-vis other suppliers. How we can serve the customer
better?

A customer satisfaction measurement survey should at least identify the following

objectives:

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  Importance to customers (Customers priorities)
 Customer’s perception of supplier’s performance
 Your performance relative to customer’s priorities.
 Priorities for improvement

Survey forms should be easy to fill out with minimum amount of time and efforts on customer’s
part. They should be designed to actively encourage the customer to complete the questions. Yet
they must provide accurate data should also be sufficiently reliable for management decision
making. This can be achieved by incorporating objective type questions where customer has to
“rate” on scale of say 1 to 10. For repeated surveys, you could provide the rating that was
previously accorded by the customer. This works like a reference point for the customer.

Space should always be provided for the customers own opinions this enables them to state any
additional requirements or report any shortcomings that are not covered by the objective
questions.

Normally, we deal various personnel at various levels in the customer’s organization—the buyer,
user, receiving inspector, finance and purchase person etc. surveying a number of respondents for
each customer gives a complete perspective of customer satisfaction. It may be necessary to
device a different questionnaire for each of them.

Respondents must be provided a way to express the importance they attach to various survey
parameters. Respondents should be asked to give a weighting factor, again on a rating scale of
say, 1 to 10, for each requirement. This gives a better indication of relative importance of each
parameter towards overall customer satisfaction and makes it easier for suppliers to prioritize
their action plans by comparing the performance rating (scores) with importance rating
(weighing).

CONSUMER RESEARCH IN DIFFERENT DISCIPLINES

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A considerable body of literature exists on consumption, consumer behavior and consumer
decision making process.

Most of the consumer research focused on adopter categories, habits, attitudes and intentions
rather that on actually measuring the satisfaction level with the service.

CONSUMER SATISFACTION PROCESS

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

The process can be depicted as follows:-

 Need recognition- realization of the difference between the desired and the current
situation that serves as a trigger for entire process.
 Search for information.
 Pre purchase alternative evaluation.
 Consumption(utilization of the procured option)
 Post purchase alternative re-evaluation.
 Divestment(disposal of the unconsumed product and it’s remnants)

WAYS FOR MAINTAINING RELATIONS WITH THE CUSTOMERS ADOPTED BY

OBC

The ability of the banking industry to achieve the socio-economic objectives and in the process
bringing more and more customers into its fold will ultimately depend on the satisfaction of the
customers. We have a strong belief that a satisfied customer is the foremost factor in developing
our business.

A need was felt by us at Oriental Bank of Commerce that in order to become more customers
friendly the Bank should come out with Charter of its services for the customers. Citizens'

78
Charter concept was considered as a base instrument to fill this need and accordingly this
document was prepared. This document was made in consultation with the users and highlights
our Bank's commitments towards the customer satisfaction, thus ensuring accountability and
responsibility amongst its officials and staff. This Code for customers not only explains our
commitment and responsibilities along with the redressed methods but also specifies the
obligation on the part of customers for healthy practices in Customer-Banker relationships.

This is not a legal document creating rights and obligations. The Code has been prepared to
promote fair banking practices and to give information in respect of various activities relating to
customer service.

We wish to acknowledge the initiative taken by the Ministry of Finance, Government of India
and Ministry of Administrative Reforms and Public Grievances for encouraging us to bring out
this Code.

We maintain constant consultations with our clientele through various Seminars, Customer
Meets, etc. to evaluate improve and widen the range of service to customer. However, all our
customers are requested to keep us informed of their experiences about the various services
rendered by the Bank and feel free to comment on this Code. We intend to bring it out in many
Regional Languages in subsequent years.

COMMON PRACTICES FOLLOWED BY OBC BRANCHES

Display business hours.

Render courteous services.

Attend to all customers present in the banking hall at the close of business hours.

Provide separate 'Enquiry' or 'May I help you' counter at large branches.

Offer nomination facility to all deposit accounts (i.e. account opened in individual capacity) and
all safe deposit locker hirers (i.e. individual hirers).

Display interest rates for various deposit schemes from time to time.

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Notify change in interest rates on advances.

Provide details of various deposit schemes/services of the Bank.

Issue Demand Drafts, Pay Orders, etc.

Display Time-Norms for various banking transactions.

Pay interest for delayed credit of outstation cheques, as advised by Reserve Bank of India (RBI)
from time to time.

Accord immediate credit in respect of outstation and local cheques upto a specified limit subject
to certain conditions, as advised by RBI from time to time.

Provide complaint/suggestion box in the branch premises.

Display address of Regional/Zonal and Central Offices as well as Nodal Officer dealing with
customer grievances/complaints.

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78
 LITERATURE REVIEW

Introduction

Psychology describes that satisfaction as “a state of mind that normally is derived out of a
comparison between the expected and the perceived.” Satisfaction is a mindset which comes
from Past experiences and knowledge. Now in a competitive world customer satisfaction is the
area where all organizations are focusing on. Ultimately it’s the customer satisfaction which will
decide whether the organizations will remain in the business or not.

The literature of satisfaction advocates satisfaction as an result as well as a process (Yi, 1990;
and Parker and Mathews, 2001). Howard and Sheth (1969, p. 145) had given the definition of
customer satisfaction: “the buyer’s cognitive state of being adequately or inadequately rewarded
for the sacrifices he has undergone.” Customer satisfaction factors in service industry are
different from any other industries.
Our research aims is to find out the relevant factors which contributes to customer satisfaction in
banking industry. Because of the immense competition, entry of foreign and private banks in
India, the Indian Banking industry has been changing in terms of services, customer satisfaction,
product offering etc. No doubt increasing competition sometimes confuses the customer for
making the right decision. Every bank is using the customer satisfaction methods, tools,
techniques and even softwares because customer satisfaction is the only way to survive in the
today’s cut-throat competition. On the other hand we are entering into modern banking from
traditional banking where customers are more aware and knowledgeable then the past. In the
competitive and dynamic environment it becomes mandatory to find out the customer
satisfaction factors.

Need and relevance of the study

Banking industry has changed drastically. From traditional banking where customers use to walk
to bank, take and fill the form and after that standing in the line for depositing and withdrawing
the money. Like other service industries, banking is also a customer focused service industry,

78
where the attention or we can say that focused attention is on differentiate customer services as
compare to the competitors. The main challenges for the banking industry is increasing
satisfaction of customer through advance quality services, lesser cost of documentation. Now the
attention has shifted to look up the service quality, when customer come in to the bank and
having personal contact with the bank employee. (Chakravarty, 1996). But today banking has a
new face. Customers prefer to do the online transactions then branch banking. For this banks
need to know whether their customers are satisfied with the services they are providing or not.
The main concern of this literature review based study is to find out the factors which really
contribute to customer satisfaction which will further help to the bank management to assess the
strategies in order to satisfy the customers.
"If you cannot measure it, you cannot improve it." - Lord William Thomson Kelvin 1824-1907.

Objective of the study

From last two decade Banking has taken shape into modern banking form traditional banking.
Customers have more options in choosing the banks than the past. Every bank is trying to retain
and maintain their valuable customers at any cost. Banks are adopting different softwares and
technological aspects to make their customers satisfied. Here the question arises that “how they
make their customer satisfied”. Our objective is to find the customer satisfaction trends in
banking industry with extensive literature review.

Rameshgaava (2012) in his study on Topic ‘Indian Banking Sector’ finds that-

The sector of commercial banks consist of 33 foreign banks, 40 private sector banks, and 27
public sector banks where majority ownership is included by the government. During the reform
period, the financial system permitted the banks to select their lending rates and deposits, and
also authorizes higher disclosure to make sure of large transparency in the balance sheets. As a
result of reforms in the banking sector the share of entire assets of public sector banks was
decreased to 75 percent from 90 percent. In the private sector, the new banks entry diminished
the concentration of assets which further might have made the competition stronger which leads
to more profitability, productivity, and enhancing efficiency

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Ameme, B., & Wireko, J. (2016) claimed in his research that in today’s competitive world
where technology plays a very important role and if we talk about banking sector or industry
there is a positive relationship between technology and customer satisfaction. They also stated
that satisfaction of customers is not merely introducing innovative products and services rather it
is much more than that. They also found that if the bank wants to become the market leader in
the competitive environment it must use the innovation approach in all the aspects like products
and services. Also there is a significant relationship between technological innovation and cost.
As the innovation increase the cost is also increase.

Machogu, A. M., & Okiko, L. (2015) research brought to light that with e-banking complexities
on customer satisfaction. Results shows that there are factors which leads to customer
satisfaction particularly in e-banking, which is one of the very important and fast growing way of
doing banking. Factors are accessibility, convenience, security, privacy, content, design, speed,
fees and charges have influence on customer satisfaction where the other factors notified have no
significant influence.

Chochol'áková, A., Gabcová, L., Belás, J., & Sipko, J. (2015) research stated that in
comparison with dissatisfied customers, satisfied customers were significantly more like by to
recommend their bank to their friends and to consider using their current bank in the future, and
they are more resistant to offers from other banks. Loyal customers are more interested in the
services of their own banks when considering investments in all the aspects such as in the
financial market, deposit their own savings to their own bank, take out a mortgage from their
own bank and use other banking products and services from their current bank. According to a
research by Ernst & Young (2012), the financial literacy of ordinary bank customers is still
relatively low, but personalized recommendations still work well here. According to the results
of our research, loyalty of customers with different intensities transforms into a potential
purchase of additional banking products. The biggest potential interest of the bank customers
was in depositing savings in the bank and in mortgage loans. The intensity of interest in the
purchase of investments and other products was relatively low. Findings of Deloitte research
(2012a), only 17% of respondents in the Czech Republic have changed their bank in the past or

78
have accounts in two different banks, in comparison with Slovakia where 52% of respondents
changed their account to another bank (12% in Poland, 28% in Hungary and 42% in Romania)

Kaur, N., & Kiran, R. (2015) founded in their research which was on public, private and
foreign shows that customer are more satisfied with the services quality of the foreign banks then
the private and public banks.

Kundu, S., & Datta, S. K. (2015) research found regarding e-service quality, customer
satisfaction and trust they found that there is a significant relationship among e-service quality,
trust and customer satisfaction. Internet banking service quality has huge impact on trust. They
also researched that in case of internet banking privacy and fulfillment are the main factors of
service quality which have influence on trust. Also banks should be more concerned about the
privacy of individual transaction of the customers. According to Ernest and young 2012 survey
showed that price factor was the main concern for 50 percent customers.

Zeinalizadeh, N., Shojaie, A. A., & Shariatmadari, M. (2015) opined that out of the nine
customer satisfaction factors fees and loan, prompt service and appearance are the major factors
which have more significant impact on customer satisfaction followed by interest rate and
accessibility of bank and availability of service which have less impact on the satisfaction on the
banking customers.

Rahi, S. (2015) research findings show customers are more loyal towards those banks who are
facilitating internet banking services. Also good brand image build relationship between banks
and customer and enhance the customer loyalty toward bank. He also concluded that those banks
that are giving the internet banking services to their customers, loyalty of those customers are
more towards the banks. He also suggested that if the brand image also plays a significant role
between loyalty of the customers and internet banking. The role of brand image is positive in
making a positive relationship between customers and internet banking.

Pareek, V. (2014) research opined with a remark that out of several factors few causal
fundamental factors like product attributes, employee characteristics, customer convenience,

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bank tangibles, cost of transactions and customer communication contributes in customer
satisfaction in Indian banks. Interestingly convenience one of the 4 P.s i.e. marketing mix was
found to be an unimportant in deciding customer satisfaction in Indian banks (studied banks).

Vyas, V., & Raitani, S. (2014) opined that there are many drivers of switching behavior in the
banks. Particularly they found nine critical factors which contribute in switching the banks. One
very interesting driver is customer satisfaction in all the drivers which contribute in the switching
behavior of customers. So again we can’t ignore that customer satisfaction of the major factors
among. Banks should come out with the strategies that increase the customers satisfaction.

Suriyamurthi, S., Mahalakshmi, V., & Arivazhagan, M. (2013) stated that in the cutthroat
competition where every bank is focusing on retaining and attracting new customer, relationship
marketing is the key element which should be adopted by the banks. They also found that
banking sector is one of the major service sector and the business of banks is more or less
dependent on the customer services and satisfaction. Banks should increase their services and
make good relationship with the customer.

Gupta, A., & Dev, S. (2012).opined satisfaction of customer is dependent on variable then
independent variable. These dependent variables largely depend on service quality, ambience,
involvement, accessibility and financial factors of the bank. According to the findings of the
research. The impact of nearness of bank and financial factors on customer satisfaction is not up
to the mark.

Sharma, N. (2012) research study used the 17 variables related to the quantitative aspects of e-
banking. Study on rural customers satisfaction from e-banking was found to be significant.
Research suggests that satisfactions in rural customers are quite satisfied in e-banking services.
So, in order to improve the tendency to use e-banking channels in rural areas the use of local
languages during dealings should be promoted as well as publicized. Her research also suggest
that ATM is one of the important channel out of all alternate banking channels for securing
patronage of rural customers.

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Ganguli, S., & Roy, S. K. (2011) Research opined that in fast driven technology world banks
should adopt the technology which can lead to customer satisfaction and loyalty. Keeping this in
mind they researched on four dimensions like customer service, technology security and
information quality, technology convenience, and technology usage easiness and reliability.
Results states that there is significant relation between customer service, technology usage
easiness and reliability and customer satisfaction. On the other hand they found the positive
relation between technology convenience and customer satisfaction. So it was found that
technology play an important role in satisfying the customer specifically in the case of banking.

Singh, J., & Kaur, G. (2011) research suggested that customer satisfaction is the outcome of
seven determinants namely social responsibility, employee responsiveness, appearance of
tangibles, competence, and reliability. services innovation, , positive word-of-mouth. According
to their study customer satisfaction if influenced by social responsibility, positive word-of-
mouth, and reliability. they also founded that relationship marketing is the important tool which
can significantly increase the customer satisfaction. Other factors like employee behavior, their
friendliness, politeness, cooperation, promptness, efficiency, knowledge level, trustworthiness,
and appearance also play an important role in satisfying the customer.

Munusamy, J., Chelliah, S., & Mun, H. W. (2010) claimed of their research shows that service
quality is a very important dimension of customer satisfaction in banking industry. All the
determinants of service quality like reliability, assurance, tangibility, empathy and responsiveness
shows significant relationship with customers. They also state that intangibility intension is very
difficult to measure then tangibility particularly in case of service quality. Customer needs,
wants, preferences change any point of time without giving some hints to industry.

Mishra A, (2009) stated that customer satisfaction majorly depends on the provision of an
approach for the manager so that higher customer satisfaction for the future could be obtained by
the bank. Also in his research he used the demographical characteristics of the customers to
know about the satisfaction level of the customers.

78
Rod, M., Ashill, N. J., Shao, J., & Carruthers, J. (2009) research findings suggests that online
banking positively influences customer perception. So bank management focus should be on
good customer service quality in terms of reliability, responsibility, tangibility and empathic.
This study was also found to be significant that online information system quality is very
important predictor of overall banking service quality.

Lopez, J., Kozloski Hart, L., & Rampersad, A. (2007) Research claimed that by using the one
of the service quality tool in which customer satisfaction was measured on the basis of ten
dimensions. Results significantly show that out of ten six dimensions namely reliability,
responsiveness, tangibles, access, communication, and credibility shows the positive impact on
customer satisfaction.

Molina, A., Martín-Consuegra, D., & Esteban, Á. (2007) brought to light that it is very
important to have good relations with the customers which leads to increase in business. Also in
there research they stated that satisfaction of customers is depends on service policy satisfaction,
on accessibility and on the front line employee satisfaction. So positive relationships with the
customers always lead to financial success to the bank for long run.

Pont, M., & McQuilken, L. (2005) Research study was to find out the whether satisfied
customers are loyal towards the banks. In the research they concluded that there is no significant
relation between customer satisfaction and customer loyalty. They founded that even satisfied
customers are not all the time loyal. If banks want to achieve high customer satisfaction they
need to adopt the good approach because with the less costly approach banks could not get
moderate customer satisfaction. They also stated that banks should exercise and examine the
customer perceptions’ towards the service quality. So if the bank want to keep their existing ones
and want to attract new ones then they should continually supervise customer satisfaction and its
impact on loyalty.

Aaltonen, P. G. (2004) brings an awareness of the importance of the impacts of demographic

variables and of technology on satisfaction of customers and loyalty in the financial service

78
industry. In past studies they have verified that extremely satisfied customers are, indeed, more
loyal customers.

Mols, N. P. (2000) stated internet banking with the help of customer feedback that is in no time
helps banks to construct and keep secure relationships with their customers and diminish
operating and fixed costs makes it is easy for them to utilize electronic fund transfer and foreign
exchange transactions (Kam & Riquelme, 2007). .

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78
 CHAPTER 3

RESEARCH METHODOLOGY

STATEMENT OF THE PROBLEM

This Study will help us to understand the consumer’s satisfaction about banking services and
products. This study will help banks to understand, how a consumer selects, organizes and
interprets the Quality of service and product offered by banks.

The market is more aware and realistic about investment and returns from financial products. In
this background this study tries to analyze the customer satisfaction towards banking services in
general and Oriental Bank of Commerce in particular.

NEED FOR THE STUDY

 The deeper the company understands of consumer’s needs and satisfaction, the earlier the
product or service is introduced ahead of competition, the greater the expected
contribution margin. Hence the study is very important.

 This study will help companies to customize the service and product, according to the
consumer’s need.

 This study will also help the companies to understand the experience and expectations of
the existing customers.

SCOPE OF THE STUDY

This study is limited to the consumers with in kurukshetra city. The study will be able to reveal
the preferences, needs, satisfaction of the customers regarding the banking services, It also help

78
 banks to know whether the existing products or services that are offering are really satisfying
the customers needs.

OBJECTIVES OF THE STUDY

 To know the satisfaction level of the consumer towards the company.

 Strategies adopted to attract customer
 To know the consumer loyalty
 Study the factors affecting consumers

RESEARCH METHODOLOGY

Research methodology is the process used to collect information and data for the purpose of
making business decisions. The methodology may include publication research, interviews,
surveys and other research techniques. Typically, it encompasses concepts such as paradigm,
theoretical model, phases and quantitative or qualitative techniques.
A methodology does not set out to provide solutions- it is, therefore, not the same as a method.
Instead, a methodology offers the theoretical underpinning for understanding which method, set
of methods, or best practices can be applied to specific case, for example, to calculate a specific
result.
It has been defined also as follows:
1. The analysis of the principles of methods, rules, and postulates employed by a discipline.
2. The systematic study of methods that are, can be or have been applied within a discipline.
3. The study or description of methods.

Steps in Research Methodology:

1. Problem statement
2. Research Design
3. Sample Design
4. Data Collection
5. Organization Of Data
6. Presentation Of Data
7. Analysis and Interpretation of Data.

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 RESEARCH DESIGN

A research design serves as a bridge between what has been established (the research objectives)
and how to accomplish these objectives. In fact, the research design is the conceptual structure
within which research is conducted; it constitutes the blueprint for the collection, measurement
and analysis of data. More explicitly, the design decisions happen to be in the respect of:

i. What is the study about?

ii. Why is the study being made?
iii. Where will the study be carried out?
iv. What type of data is required?
v. Where can be the required data found?
vi. What period of time will the study include?
vii. What will be the sample design?
viii. What technique of data collection will be used?
ix. How will the data be analyzed?
x. In what style will the report be prepared?

The function of research design is to provide for the collection of relevant evidence with minimal
expenditure of effort, time and money. But how all these can be achieved depends mainly on the
research purpose.

The present study is Descriptive in nature, as it seeks to discover ideas and insight to bring new
relationship. Research design is flexible enough to provide opportunity for considering different
aspects of problem under study. Decision regarding What, Where, When, How much, by what
means concerning an enquiry or research study constitute a research design. Research Design is

78
advance planning of research. A good research design should be flexible, appropriate and
efficiency and so on. A good design ensures that the required data is gathered accurately, timely
and economically.

SAMPLE SIZE

Sample size denotes the number of elements selected for the study. For the present study, 100
respondents were selected at random. All the 100 respondents were the customers of different
branches of Oriental Bank of Commerce.

SAMPLING METHOD

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

collected only from a representative part of the universe and the conclusions are drawn on that
basis for the entire universe.

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

DATA COLLECTION

After the research problem has been identified and selected the next step is to gather the requisite
data. While deciding about the method of data collection to be used for the researcher should
keep in mind two types of data viz. Primary Data and Secondary Data.

Types of Data Collection:

 Primary Research: Sometimes, the information you need doesn’t exist- anywhere! You’ve
searched the internet; you scoured the library, journals and databases all you no avail. That’s
when you may need to conduct primary research, or research conducted for a specific purpose.

 Secondary Research: Usually the easiest and least expensive, secondary research is
information that already exists somewhere. It may be a study, a group of articles on a topic, or

78
demographic or statistical data gathered by someone else. For example, the demographic data
about car owners in your country available from your chamber of commerce may be just the
information you need- and it’s already gathered.

METHODS OF DATA COLLECTION

For the purpose of conducting a proper research is a need of availability of relevant data. While
collecting the required data researcher should be very careful as the quality of the research
directly depends upon the reliability and accuracy of data. There are different way of collecting
data researcher can select a particular one according to his requirement. Sometimes the
availability of resources is considered while selecting techniques of collection of data. Broadly,
all the methods of data collection can be divided into two categories i.e. primary and secondary
sources. Primary data collected by researcher through survey or experiment. Secondary data is
also called as second hand information.

Secondary data is not collected by the researcher himself but available in the records etc. So
researcher can use both these methods according to his her requirements. In my research study I
use the questionnaire for collecting data

SECONDARY DATA:

 Website of the company.

 Annual reports
 Data collected by other researchers
 Magazines

LIMITATIONS OF THE STUDY

Although the study was carried out with extreme enthusiasm and careful planning there are
several limitations, which handicapped the research viz,

1. Time Constraints:
The time stipulated for the project to be completed is less and thus there are chances that some
information might have been left out, however due care is taken to include all the relevant
information needed.

2. Sample size:

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Due to time constraints the sample size was relatively small and would definitely have been more
representative if I had collected information from more respondents.

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

4. It was difficult to find respondents as they were busy in their schedule, and collection of data
was very difficult. Therefore, the study had to be carried out based on the availability of
respondents.

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1. For how long you are part of HDFC Bank?

Response No. of Respondents %age of Respondents

Less than 6 Months 20 20%

Less than 1 Year 37 37%

Less than 2 Years 14 14%

More than 2 Years 29 29%

Total 100 100%

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 20%
29%

14%
37%

Less than 6 Months Less than 1 Year

Less than 2 Years More than 2 Years

Interpretation:

From the above graph it is clear that majority of the respondents are part of HDFC Bank from
last one year i.e. 37%; 29% of the respondents are part of HDFC Bank from last more than 2
years; 20% respondents from 6 months and remaining 14% respondents are part of HDFC Bank
for last two years.

2. What are reasons that attract you to be a customer of the bank?

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Response No. of Respondents %age of Respondents

Image 25 25%

Extra Services 25 25%

Services 45 45%

All of above 5 5%

Interpretation:

From the above graph it is clear that majority of the respondents i.e. 45% are become part of
HDFC Bank because of its services; 25% because of its image; 25% because of its extra services
and rest because of all the three factors.

3. Are you aware of the different services offered by HDFC Bank?

Response No. of Respondents %age of Respondents

Yes 91 91%

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No 9 9%

Total 100 100%

Interpretation:

From the above graph it is clear that majority of the respondents are aware of products and
services offered by HDFC Bank i.e. 91% and 9% respondents are not aware of services offered
by HDFC Bank.

4. Do you know about these following services of the bank?

Response No. of Respondents %age of Respondents

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Saving a/c 100 100%

Fixed deposits 100 100%

Current a/c 53 53%

Demat a/c 5 5%

Credit cards 25 25%

Mutual funds 16 16%

Loans 95 95%

Interpretation:

From the above graph it is clear that majority of the respondents are aware of saving a/c & FD’s
i.e. 100%.53% are aware about current a/c, 5% demat a/c, 25% credit card, 16% mutual fund and
95% are aware of loans.

5. Which of these services are you using?

Response No. of Respondents %age of Respondents

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Saving a/c 65 65%

Fixed deposits 58 58%

Current a/c 40 40%

Demat a/c 3 3%

Credit cards 0 0%

Mutual funds 10 10%

Loans 47 47%

Interpretation:

From the above graph it is clear that majority of the respondents are using saving a/c i.e.
65%.58% are using FD’s, 40% current a/c, 3% demat a/c, 0% credit card, 10% mutual fund and
47% are aware of loans.

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6. Which of these services are you further interested in?

Response No. of Respondents %age of Respondents

Saving a/c 20 20%

Fixed deposits 24 24%

Current a/c 10 10%

Demat a/c 0 0%

Credit cards 0 0%

Mutual funds 23 23%

Loans 19 19%

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Interpretation:

From the above graph it is clear that majority of the respondents are interesting in FD’s i.e.
24%,20% are interesting in saving a/c, 40% current a/c, 23% mutual fund, 19% in loans and
nobody is interesting in credit cards and demat a/c’s.

7. Which service of the bank would you rate the best?

Response No. of Respondents %age of Respondents

Saving a/c 33 33%

Fixed deposits 40 40%

Current a/c 12 12%

Demat a/c 0 0%

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Credit cards 0 0%

Mutual funds 10 10%

Loans 5 5%

Interpretation:

From the above graph it is clear that 33% of the respondent rate saving a/c, the best product. 40%
said FD’s are best. 12% said current a/c.10% said about mutual funds.5% said about loans and no
one rate demat a/c & credit card.

8. Do you know about the Extra services being provided by the bank?

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Response No. of Respondents %age of Respondents

Yes 69 69%

No 41 41%

Interpretation:

From the above graph it is clear that 69% of the respondents are known about the innovative
services and the rest is unknown about it.

9. Which of the following Extra service of the bank would you like to go in for?

Response No. of Respondents %age of Respondents

Phone banking 5 5%

ATM 60 60%

Net banking 10 10%

Bill payment 10 10%

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Non of these 5 5%

All of these 10 10%

Interpretation:

From the above graph it is clear that 5% of the respondents would like to go for phone banking,
60% for ATM’s, 10% for net banking, 10% for bills payment, 5% don’t want any innovative
services and 10% want all these services.

10. What is your perception about the service of the bank?

Response No. of Respondents %age of Respondents

Good 35 35%

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Average 55 55%

Poor 10 10%

Interpretation:

From the above graph it is clear that 35% of the respondents found the service of HDFC Bank
good, 55% found it average and 10% found it poor.

11. Are you satisfied with the dealing of the bank officials?

Response No. of Respondents %age of Respondents

Yes 30 30%

No 25 25%

To some extent 45 45%

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Interpretation:

From the above graph it is clear that 30% of the respondents are satisfied with the dealing of the
bank officials, 45% are not fully satisfied and 25% are dissatisfied.

12. Any problem you are facing regarding the bank?

Response No. of Respondents %age of Respondents

Timeliness 78 78%

Customer relationship 12 12%

Infrastructure 10 10%

Others 0 0%

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Interpretation:

From the above graph it is clear that 78% of the respondent facing the problem of timeliness,
12% customer relationship and 10% of infrastructure.

13. How likely are you to recommend Bank services to a friend or colleague?

Response No. of Respondents %age of Respondents

Very unlikely 8 8%

Somewhat unlikely 30 30%

Neither likely nor unlikely 17 17%

Somewhat likely 35 35%

Very likely 10 10%

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Interpretation:

From the above graph it is clear that 8% of the respondents are unlikely to recommend the
products of HDFC Bank to their friends and colleagues, 30% said somewhat unlikely, 17% said
neither likely nor unlikely, 35% said somewhat likely and 10% said very likely.

14. How will you rate the HDFC Bank in maintaining good customer relationship?

Response No. of Respondents %age of Respondents

Good 20 20%

Average 57 57%

Poor 33 33%

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Interpretation:

From the above graph it is clear that 20% of the respondents said HDFC Bank is good in
maintaining customer relationship, 57% said it is average and rest 33% said it is poor in the
maintenance.

15. What is your overall satisfaction rating with our bank?

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Response No. of Respondents %age of Respondents

Very dissatisfied 2 2%

Somewhat dissatisfied 9 9%

Neither satisfied nor 21 21%

dissatisfied

Very satisfied 48 48%

Somewhat satisfied 20 20%

Interpretation:

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From the above graph it is clear that 48% of the respondents are very satisfied with the bank,
20% are somewhat satisfied, 21% are neither satisfied nor dissatisfied, 9% are somewhat
dissatisfied and 2% are very much dissatisfied with the bank.

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Findings

1. Most of the respondents are having Saving A/Cs.

2. Most of the respondents are satisfied with the service offered by Oriental Bank of Commerce.

3. Majority of the customers rates good, very good and excellent because of the customer service
offered by the bank .
4. people are now looking forward for better customer service in addition to the brand name in
which they are investing and the returns they are getting.

5. The reason can be increasing customer satisfaction and quality services offered by the bank.

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CONCLUSIONS

The project entitled “A STUDY TO UNDERSTAND THE CUSTOMER SATISFACTION

AT OBC” has helped me in studying satisfaction about services and products offered to
consumers.

Since the opening up of the banking sector, private banks are in the fray each one trying to cover
more market share than the other.

Yet, OBC is far behind SBI, PNB. OBC must also be alert what with Private Banks (ICICI,
HDFC) breathing down its neck.

I am sure the bank will find my findings relevant and I sincerely hope it uses my suggestions
enlisted, which I hope will take them miles ahead of competition.

In short, I would like to say that the very act of the concerned management at OBC in giving me
the job of critically examining consumer satisfaction towards financial products and services of
the company is a step in their continual mission of making all round improvements as a means of
progress.

I am sure the bank has a very bright future to look forward to and will be a trailblazer in its own
right.

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SUGGESTIONS

With regard to banking products and services, consumers respond at different rates, depending
on the consumer’s characteristics. Hence OBC should try to bring their new product and
services to the attention of potential early adopters.

 Due to the intense competition in the financial market, OBC should adopt better strategies
to attract more customers.
 Return on investment company reputation and premium outflow are most preferred
attributes that are expected by the respondents. Hence greater focus should be given to
these attributes.
 OBC should adopt effective promotional strategies to increase the awareness level among
the consumers.
 OBC should ask for their consumer feedback to know whether the consumers are really
satisfied or dissatisfied with the service and product of the bank. If they are dissatisfied,
then the reasons for dissatisfaction should be found out and should be corrected in future.
 The OBC brand name has earned a lot of goodwill and enjoys high brand equity. As there
is intense competition, OBC should work hard to maintain its position and offer better
service and products to consumers.
 The bank should try to increase the Brand image through performance and service then,
only the customers will be satisfied.
 Majority of the people find banking important in their life, so OBC should employ the
strategies to convert the want in to need which will enrich their business.

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 CHAPTER- SEVEN
QUESTIONNAIRE

NAME…………………………….
GENDER………………………….
AGE……………………………….
OCCUPATION……………………
EMAIL ID…………………………

1. Which type of account you have in OBC Bank?

 SAVING A/C
 CURRENT A/C
 FIXED DEPOSIT A/C

2. Since how long you have the account in OBC Bank?

 0-1 year
 1-2 years
 2-3 years
 3 and above

3. Why you choose OBC BANK?

 Customer service
 Brand name
 Interest
 Others

4. Do you satisfied with the interest provided by your bank?

 Yes
 No

5. Which bank provided better interest rate?

 SBI
 PNB
 OBC
 ICICI
 Other
6. Are you interested to shift the account to other bank?
 Shift
 Doesn’t shift

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7. Are you satisfied with the service provided by OBC?
 Satisfied
 Not satisfied

8. How you rate the insurance product of OBC?

 Excellent
 Very good
 Good
 Average
 Poor

9. Which product of OBC would you like?

 Saving A/c

 Current A/c

 Loan A/c

 Insurance

 Other

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 CHAPTER EIGHT
Bibliography

Books

 Research Methodology by C.R. KOTHARI, 2nd edition.

 Marketing Management by PHILIP KOTLER, 11th edition.

1. WEBSITE

www.obcindia.co.in

www.google.com

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