Ing Vysya Bank - Liability Product - Service Quality

A
PROJECT REPORT
ON
Comprehensive Study of Service Quality on Liability

Products Of
ING VYSYA Bank &
Its Competitors
TRAINING EXECUTED AT:
FARIDABAD
AS A REQUIREMENT IN THE PARTIAL FULFILLMENT OF P.G.D.M

(2008-10)
SUBMITTED TO: SUBMITTED BY:
MR.KRISHNA PRASAD MR. JAGDEEP GANDHI

Sales manager. Student
Faridabad Asia Pacific Institute Of Management
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ING VYSYA BANK
FARIDABAD , HARYANA.
ACKNOWLEDGEMENT
Enumerating and enlisting all the individuals whose contributions went

into the making of the project is a very difficult task…
I offer my great sense of gratitude and thanks to Mr. KRISHNA

PRASAD of ING Vysya Bank, who gave me a chance to work under
him. I am obliged to him for encouraging me and for providing me
valuable knowledge.
I am highly indebted to the whole corporate team of ING Vysya

bank for giving their valuable time and advice regarding this project.
I owe a special word of thanks to the management of ING Vysya

Bank, who provided me with this great opportunity for working and
preparing this project report.
I am also grateful to all my Faculty Guide Prof.Shiladitya Dasgupta

& a special mention to my programme director Prof.S.K.Kapoor
without whom this project would have been impossible.
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Finally I express my sincere gratitude to all those who directly or
indirectly helped me in the successful completion of this project.
CONTENTS
Page no.
Executive summary…………………………………………………
1. Introduction…………………………………………………….
1.1 Company profile……………………………………………

1.2 A word about the competitors…………………………..
2. Review of literature ……………………………………………
3. Objectives ………………………………………………………
4. Scope……………………………………………………………..
5. Methodology…………………………………………………….
5.1 Sample……………………………………………………….
5.2 Research instrument……………………………………..
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6. Data collection & interpretation……………………………
6.1.1 Comparative analysis of corporate salary

accounts…………………………………………………..
6.1.2 Comparison of ING Vysya’s savings account with
other banks………………………………………………
6.1.3 Comparison of ING Vysya’s current account with
Other banks………………………………………………
6.2.1 SERVE QUAL results………………………………..

6.2.2 Formulation of Hypothesis’s………………………….
6.2.3 Graphical representation of data………………...….
6.3 SWOT analysis……………………………………………..
7. Conclusion …………………………………………………
8. Recommendation …………………………………………
9. Limitation …………………………………………………
References…………………………………………………
Annexure……………………………………………………
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EXECUTIVE SUMMARY
It can be seen in the present scenario of banking sector i.e. post

recession period that strong market players are striving to uncover
market potentials and provide all services, combining innovation,
quality, personal touch and flexibility in delivery so as to attract
customers . The growing competition with in the nationalised banks,
private banks and the foreign players are increasing the expectations
of the customers like the catalyst. In such a scenario the customer
would continue to be the centre-point of the business strategy. In
short, you lose touch with the customer, and you lose everything. In
middle of this post recession period certain events had such happened
that equilibrium had once again shifted to nationalized banks, so
private bankers are trying to build up on their competencies & coming
up with new innovative products to regain their previous customers as
well come up with new opportunities & rectification of old mistakes.
Keeping in view such stiff competition, it’s a miniscule
effort from my side under which I have tried to fulfill the following
objectives:
 A complete comparative analysis of the ASPIRA account (salary

account) of ING VYSYA bank.
 To compare the features offered by the savings account of ING
VYSYA bank with those offered by the others.
 To compare the features offered by the current account of ING
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 To study the service quality of ING VYSYA bank’s corporate
salary account.
 To do a SWOT analysis of ING VYSYA bank.
For the comparison I have visited some of the banks and used the
internet for the data; while to measure the service quality I have
conducted a survey for the customers of ING Vysya and collected data
from them. And based on this I have done the SWOT analysis.
The findings of the research lead to following conclusion:
1. ING Vysya has a strong brand association with an international

fame group i.e. International Netherland Group. But so far the
bank has not been able to establish it self so well here, in the
minds of people here in India, unlike its competitors.
2. Due to RBI guide lines which have been some what restrictive for
foreign players, ING Vysya cannot be blamed solely for being
unpopular. It is expected that in the time to come when these
guide lines would be eased ING Vysya would be able to utilize
more resources and would be able to establish itself more
efficiently.
3. The bank is facing the problem of being unpopular due to lack of

its branches and ATMS in sufficient numbers all over INDIA.
4. Even in the comparative analysis it was found that most of the

product features are almost the same, rather in some instances
ING Vysya is superior for eg:-
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i) It offers PAP cheque books to its customers where as
other banks don’t.
ii) It offers 2 free DD/PO to its customers where as banks
like standard chartered don’t
iii) It opens the salary accounts even at lower averages
where as other banks are stringent in this respect.
iv) In this period of post recession ING VYSYA Bank had
come up with an initiative of innovative banking product
called ING FORMULA Savings Account for the Formula 1
Fans residing in metro cities of India with an additional
offering of Party vouchers of night clubs worth Rs.3000 ,
w.e.f. 1st August 2008.
5. Similarly in some cases some features of other banks are

superior, for eg:-
i) YES bank gives unlimited ATM transactions with its
partner banks to all of its customers where as it offers
only to orange customers
ii) ICICI facilitates immediate transfer of funds which is not
the case with ING
iii) Customers also complain about its late salary transfer.
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1. INTRODUCTION
ING Vysya Bank Ltd., is an entity formed with the coming together of
erstwhile, Vysya Bank Ltd, a premier bank in the Indian Private Sector
and a global financial powerhouse, ING of Dutch origin, during Oct
2002.
The origin of the erstwhile Vysya Bank was pretty humble. It was in the
year 1930 that a team of visionaries came together to found a bank
that would extend a helping hand to those who weren't privileged
enough to enjoy banking services. It is one of the oldest private sector
banks offering banking products and services to retail and corporate
customers. Its business has been organized into Retail Banking and
Wholesale Banking.
Being new on the ground ING Vysya is making all its efforts to compete
with its competitors in the best possible way. In its retail banking I got
this opportunity to work and do the comparative analysis of Aspira
account which is the salary account of the bank and measure its
service quality, the reason I was given this project was the newness of
the bank and hence its necessity to be aware of where it stands as
compared to its competitors, how its products differ from its
competitors, and how is it perceived by its competitors. To measure
this perception I used the SERVE QUAL tool and surveyed its
competitors.
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As suggested by the faculty guide I also covered the rest of the liability
products i.e. the savings account and the current account of the bank
and compared its features with other banks namely; ICICI, HDFC, Yes
bank, ABN Amro bank and Standard Chartered bank, to increase the
knowledge about all the products and enhance my learning.
Finally I also did an over all SWOT analysis on the basis of data that I
collected and knowledge of the present scenario that I gathered during
my summer internship about the banking sector.
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1.1COMPANY PROFILE
ING Vysya Bank Ltd., is an entity formed with the coming together of
erstwhile, Vysya Bank Ltd, a premier bank in the Indian Private Sector
and a global financial powerhouse, ING of Dutch origin, during Oct
2002.
The origin of the erstwhile Vysya Bank was pretty humble. It was in the
year 1930 that a team of visionaries came together to found a bank
that would extend a helping hand to those who weren't privileged
enough to enjoy banking services. It is one of the oldest private sector
banks offering banking products and services to retail and corporate
customers. Its business has been organized into Retail Banking and
Wholesale Banking.
Its Retail Banking business comprises four business units namely
Consumer Banking, Small and Medium Enterprises (SME) Agriculture
and Social Banking Unit (ASBU) and Private Banking. It’s banking
products and services for retail customers include both loans and
liabilities products and services. It offers a range of credit products
including home loans, automobile loans, commercial vehicle loans, two
wheeler loans, dealer financing, personal loans, debit cards, credit
cards, loans against term deposits and loans against shares. It offers
loans and fee-based services to small and medium enterprises. It
finances agricultural activities and government-sponsored schemes. Its
deposit products include demand deposits (savings and current
accounts) and time deposits, with specific products for customers in
various segments, like salary accounts, accounts for small and medium
enterprises and non-resident Indian accounts. Our other retail products
and services include private banking, fund transfer facilities and utility
bill payment services.
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Its Wholesale Banking is organized into three groups, Client Coverage,
Products and Services and Financial Markets. While the Client
Coverage group is responsible for managing relationships with
identified client subgroups, the Products and Services and Financial
Markets groups are responsible for product and service delivery to the
entire Wholesale Banking client base.
ING Vysya Bank has a portfolio of banking solutions and a

range of offerings for people from all walks of life, with a view to
making banking an effortless task. Whether you require a simple
savings account or a sound banking partner, ING Vysya Bank has the
perfect solutions and products to ensure a wealthy future.
Savings Accounts
Out of the following one can choose the product suiting the most to
their requirements and pockets.
• Orange savings account
• Freedom account
• Formula savings account
Aspira account (Salary account)
These accounts are opened by the companies for their employees to

transfer their salary.
• Advantage salary account
• Orange salary account
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Current account
Small, medium and large businesses alike will find that ING Vysya
Bank's current account offerings come with all the benefits needed to
stay ahead of competition. Whatever the size or scope, one will find a
current account option exclusively designed for him/her.
• General current account

• Advantage current account
• Orange current account.
My project revolves around these liability products, their comparison

with similar products of other banks and study of service quality of the
salary account.
1.2 A word about the competitors
ICICI BANK
ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian

financial institution, and was its wholly-owned subsidiary. ICICI's
shareholding in ICICI Bank was reduced to 46% through a public
offering of shares in India in fiscal 1998, an equity offering in the form
of ADRs listed on the NYSE in fiscal 2000, ICICI Bank's acquisition of
Bank of Madura Limited in an all-stock amalgamation in fiscal 2001,
and secondary market sales by ICICI to institutional investors in fiscal
2001 and fiscal 2002. ICICI was formed in 1955 at the initiative of the
World Bank, the Government of India and representatives of Indian
12
industry. The principal objective was to create a development financial
institution for providing medium-term and long-term project financing
to Indian businesses. In the 1990s, ICICI transformed its business from
a development financial institution offering only project finance to a
diversified financial services group offering a wide variety of products
and services, both directly and through a number of subsidiaries and
affiliates like ICICI Bank. In 1999, ICICI become the first Indian
company and the first bank or financial institution from non-Japan Asia
to be listed on the NYSE.
After consideration of various corporate structuring alternatives in the

context of the emerging competitive scenario in the Indian banking
industry, and the move towards universal banking, the managements
of ICICI and ICICI Bank formed the view that the merger of ICICI with
ICICI Bank would be the optimal strategic alternative for both entities,
and would create the optimal legal structure for the ICICI group's
universal banking strategy. The merger would enhance value for ICICI
shareholders through the merged entity's access to low-cost deposits,
greater opportunities for earning fee-based income and the ability to
participate in the payments system and provide transaction-banking
services. The merger would enhance value for ICICI Bank shareholders
through a large capital base and scale of operations, seamless access
to ICICI's strong corporate relationships built up over five decades,
entry into new business segments, higher market share in various
business segments, particularly fee-based services, and access to the
vast talent pool of ICICI and its subsidiaries. In October 2001, the
Boards of Directors of ICICI and ICICI Bank approved the merger of
ICICI and two of its wholly-owned retail finance subsidiaries, ICICI
Personal Financial Services Limited and ICICI Capital Services Limited,
with ICICI Bank. The merger was approved by shareholders of ICICI and
ICICI Bank in January 2002, by the High Court of Gujarat at Ahmadabad
13
in March 2002, and by the High Court of Judicature at Mumbai and the
Reserve Bank of India in April 2002. Consequent to the merger, the
ICICI group's financing and banking operations, both wholesale and
retail, have been integrated in a single entity.
Today, ICICI Bank is India's second-largest bank with total assets of Rs.
3,793.01 billion at March 31, 2009 and profit after tax of Rs. 37.58
billion for fiscal 2009. ICICI Bank is the most valuable bank in India in
terms of market capitalization and is ranked third amongst all the
companies listed on the Indian stock exchanges in terms of free float
market capitalisation*. The Bank has a network of about 1438
branches and 4,600 ATMs in India and presence in 19 countries.
ABN AMRO
On 29 March 1824 King Willem-I issued a royal decree creating the

Nederlandsche Handel-Maatschappij with the aim of reviving trade
between the Netherlands and the Dutch East Indies. In 1964, NHM
merged with De Twentsche Bank to form Algemene Bank Nederland
(ABN), while Amsterdamsche Bank and Rotterdamsche Bank joined to
become Amsterdam-Rotterdam (Amro) Bank. In 1991, these two banks
merged as ABN AMRO Bank. Today, ABN AMRO Bank has a powerful
presence in world markets, building on a tradition of stimulating
international trade.
Today, with assets over US $504 billion and an AA credit rating, ABN
AMRO Bank ranks among the top 10 banks in the world in size and
strength. Our international network comprises 4500 branches and
offices in over 320 cities and 76 countries and territories, with over
100,000 highly qualified staff. As a global bank, we can handle the
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most complicated cross-border transactions, yet we also understand
the subtleties of local markets.
HDFC BANK
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 the private sector, as part of the
RBI's liberalisation 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 was incorporated in 1977 with the primary objective of meeting

a social need – that of promoting home ownership by providing long-
term finance to households for their housing needs. It was promoted
with an initial share capital of Rs.100 million. HDFC is a professionally
managed organization with a board of directors consisting of eminent
persons who represent various fields including finance, taxation,
construction and urban policy & development. The primary objective of
HDFC is to enhance residential housing stock in the country through
the provision of housing finance in a systematic and professional
manner, and to promote home ownership. HDFC is ranked 3rd amongst
the Asian banking and finance sector for highest return on equity by
Asian money. Its main goal is to develop close relationships with
individual households, maintain its position as the premier housing
finance institution in the country, transform ideas into viable and
creative solutions, and provides consistently high returns to
shareholders & to grow through diversification. Its most valuable
assets are its Human Resources and it is its constant endeavor to
continuously develop them by laying strong emphasis on their Training
15
& Development. HDFC main focus is on their employees' career
development so that their aspirations can meet company’s goals.
Standard Chartered Bank
The Standard Chartered Group was formed in 1969 through a merger

of two banks: The Standard Bank of British South Africa founded in
1863, and the Chartered Bank of India, Australia and China, founded in
1853.
Both companies were keen to capitalize on the huge expansion of

trade and to earn the handsome profits to be made from financing the
movement of goods from Europe to the East and to Africa.
In 1969, the decision was made by Chartered and by Standard to

undergo a friendly merger. All was going well until 1986, when a
hostile takeover bid was made for the Group by Lloyds Bank of the
United Kingdom. When the bid was defeated, Standard Chartered
entered a period of change. Provisions had to be made against third
world debt exposure and loans to corporations and entrepreneurs who
could not meet their commitments. Standard Chartered began a series
of divestments notably in the United States and South Africa, and also
entered into a number of asset sales.
From the early 90s, Standard Chartered has focused on developing its
strong franchises in Asia, the Middle East and Africa using its
operations in the United Kingdom and North America to provide
customers with a bridge between these markets. Secondly, it would
focus on consumer, corporate and institutional banking, and on the
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provision of treasury services – areas in which the Group had particular
strength and expertise.
In the new millennium we acquired Grindlays Bank from the ANZ Group
and the Chase Consumer Banking operations in Hong Kong in 2000.
The Chartered Bank opened its first overseas branch in India, at

Kolkata, on 12 April 1858. Eight years later the Kolkata agent
described the Bank's credit locally as splendid and its business as
flourishing, particularly the substantial turnover in rice bills with the
leading Arab firms. When The Chartered Bank first established itself in
India, Kolkata was the most important commercial city, and was the
centre of the jute and indigo trades. With the growth of the cotton
trade and the opening of the Suez Canal in 1869, Bombay took over
from Kolkata as India's main trade centre. Today the Bank's branches
and sub-branches in India are directed and administered from Mumbai
(Bombay) with Kolkata remaining an important trading and banking
centre.
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2. REVIEW OF LITERATURE
Measuring Service Quality in Banks: An

Assessment of Service Quality Dimensions
Service quality has been viewed as a multi-dimensional construct in

marketing literature. Parasuraman, Zenithal, and Berry (1988) have
conceptualized a five dimensional model. The five dimensions are
reliability, responsiveness, empathy, assurance and tangibility. Their
measurement instrument SERVQUAL is based on the five dimensional
model. Gronroos (1982) had identified two service quality dimensions
functional quality and technical quality. Functional quality represents
the perception of the manner in which the service is delivered.
Technical quality on the other hand represents the outcome of the
service act or what the customer receives in the end. Brady and Cronin
(2001) term it as outcome quality. The five dimensional model of
Parasuraman et al. which has become almost the standard way of
measuring service quality, essentially captures the functional quality.
There is more attention on the functional service quality, particularly in
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the more developed economies. But many products and services in the
emerging markets compete at their expected product levels (Kotler,
2003). In some industries, the competition is at the basic product
levels or core benefits. Market differentiation can be achieved through
the way products and services are delivered; creating satisfying
customer experiences about the company, employees and the delivery
process; but this may not create the necessary competitive advantage
for growth. Even in the business environments where the competition
is at the augmented product level, it would be pertinent to know the
relative strengths of industry specific aspects of “what is offered”
versus “how it is offered”. Whether a below expectations service
outcome is considered more important by customers or if an improper
service delivery process and employee interaction is viewed more
serious. Focus only on functional quality dimensions of service quality,
therefore appears to be misplaced. Only a few studies have recently
tried to empirically explore the outcome dimension of service quality
(Kang and James 2004; Jain 2005). The present study fills the gap and
looks at the relative importance of service quality dimensions in the
Indian banking sector.
The study that was conducted had final sample
consisting of 131 usable questionnaires. The primary data was
collected by personally administering the questionnaire. Mean age,
household income and education level of the sample is 29 years, Rs
21,000.00 and some college education respectively. Government
service, private service and own business is represented by 25, 25 and
26.5 percent of the participants. The sample had 91% male
respondents. Nationalized banks represent 97% of the banks
patronized by the participants. Data was collected in the month of
February 2005.
Evidence of convergent validity was examined through simple
correlation with the independently measured overall quality score.
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Corresponding correlations with independently measured overall value
score were used for observing discriminant validity. It was found that
the service quality dimensions had internal consistency; however
outcome quality could not establish convergent validity and
discriminant validity conclusively. The results buttress the
multidimensional structure of service quality. Though some service
quality dimensions are found to be similar to the ones posited in five
dimensional model, the model as such is not supported in banking
services. As expected, in the study, the functional quality dimensions
of responsiveness, assurance, empathy and tangibles do not have
much significance for customers. Results however do not support the
proposition that outcome quality dimension would emerge to be the
important dimension. Reliability is found to be the vital dimension in
customers’ perception of service quality.
The findings of this study have important managerial
implications. Customers regard reliability to be the most important
dimension of services in banks. Reliability dimension is the descriptor
of the functional quality and outcome quality (Brady and Cronin, 2001).
This implies that the banks should be able to perform what they
purport to perform – whether it is the functional quality aspect or the
outcome quality aspect. Ignored in widely used measurement
instruments, outcome quality features such as there should not be
queues for withdrawals, making demand drafts etc have been found to
be lagging behind the customers’ expectations and therefore warrant
improvement. A moderate sample and a non parsimonious scale are
some of the limitations of the study. The operationalisation of outcome
quality needs improvement through further exploratory work.
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3. OBJECTIVE OF THE STUDY:
. The objectives of the project are:

 To conduct comparative analysis of the ASPIRA account (salary
account) of ING VYSYA bank.
 To compare the features offered by the savings account of ING
 To compare the features offered by the current account of ING
 To study the service quality of ING VYSYA bank’s corporate
salary account.
 To conduct a SWOT analysis of ING VYSYA bank
4. SCOPE
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The project is mainly concentrated on the corporate sales of the bank
i.e. on the ASPIRA account, which is the salary account of the bank, its
comparative analysis and SWOT analysis. It also include the service
quality delivered to and perceived by its customers using the serve-
qual tool and comparison of rest of the liability products with similar
products of other banks namely ICICI Bank, HDFC Bank, ABN AMRO
Bank, and YES Bank.
This would help the bank to measure its standing as compared to
its competitors and find out where it lacks and needs improvement.
The survey conducted on its customers of salary accounts provided
valuable information as, what features are liked by them and which are
not, and what are the areas where they feel ING Vysya needs
improvement. This exercise also made its customers feel that ING
Vysya wants to improve and is looking forward to their feedback so in a
way it helped in improving its relationship with its customers.
5. METHODOLOGY
1. For the comparative analysis of

a. Salary account
b. Savings account
c. Current account
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I visited the banks to meet bank personnel who could guide
me about the various features offered by them as part of their liability
products.
2. A well documented ‘service quality model of Parasuram

et.al.’(1985) was used as a conceptual framework for measuring
service quality in ING Vysya Bank. Here the model has helped us to
analyze the gap between the service quality expected by the
management and its actual perception by the customer.
3. With the help of data so collected a SWOT analysis was done after
visiting various banks, talking to various people through personal
interviews.
5.1 SAMPLE
The sampling frame was provided by the bank from its data base out of
which 30 companies were surveyed consisting of approximately 10
employees each. The study was conducted with the cooperation of the
management and ING Vysya’s customers who took the valuable time
out of their schedules to fill my questionnaire and give their feedback
about ING Vysya’s services.
5.2 THE RESEARCH INSTRUMENT
The questionnaire used in this study followed the five basic dimensions
of SERVEQUAL instrument developed by Parasuram. The instrument
includes 7 items on special instruction from my industry guide because
he wanted the questionnaire to be as short as possible so that the
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customers are not bothered much and they don’t feel irritated while
answering them. The customers and management were asked to mark
their levels of perception and expectation respectively on a five-pointer
scale. The gap hence found between the perception and expectation
was administered consistently to find out the meaningful results.
The questionnaire is given in the annexure.
6. DATA COLLECTION AND INTERPRETATION
For the first part which is the comparative analysis of liability products,
data was collected by visiting the banks and finding on their respective
websites.
For the second part i.e. SERVE QUAL, primary data from 300
respondents was collected in 30 companies to measure the service
quality gap. The number of respondents from the management side
was 12, which were the part of corporate salary team. Personal
interviews with some employees were also conducted to know the
problems they encountered in detail. The response rate both at the
companies I visited and at the bank was 100%.Reliability was tested
using one way ANOVA to test whether any significant difference exist
in the perceptions and expectations of customers and management
respectively for all the parameters of SERVE QUAL model and are
shown separately.
And finally on the basis of the findings of the study a SWOT analysis
was conducted.
The names of the companies from which the data was collected are
given in appendix.
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1. Given below are the features of different liability products offered by
ING Vysya bank and after ward their comparison with similar products
of other banks namely ICICI Bank, HDFC Bank, ABN AMRO Bank, and
YES Bank.
a) Corporate Salary Account
This basically refers to opening of different companies

employees account by providing them facilities, benefits &
attractive schemes and various banking services, for opening of
such account certain criteria must be fulfilled such as in case of
ING Vysya Bank is concerned the following rules applies.
• The minimum number of employees of the corporate, whose

salary accounts are to be opened, should be 20.
• The average salary credit in to the employee’s orange salary
account should be equal to or higher than Rs 20,000/- per
month.
• Where there is a joint account holder, the normal KYC norms
need to be adhered to for the joint account holder.
• Preferably corporate to have a current account with ING Vysya
Bank.
There are two types of salary account offered by ING Vysya Bank.
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i) Advantage salary account. (Avg salary less than 25,000)
• Zero balance account.

• Free unlimited ATM transactions on the ING Vysya Bank ATM
network and corporation bank ATM network.
• 6 free ATM transactions per month at 20,000 (cirrus)ATMs
• Free ING Vysya international debit card.
• Re-issue charged at Rs.200/- per request.
• Shopping convenience at over 200,000 merchant locations.
• Free issue of personalized cheque books.
• Free transfer of funds across all the branches of ING Vysya bank.
• Free customer service line Internet banking facility. Free bill pay
service at select centers.
• Overdraft facilities to an extent of 50% of the last salary credit
charged at 18% for number of days overdrawn & service charge
of Rs.100/- for every month that the account is overdrawn.
• Internet banking facility (Mi- bank)
• Free customer service
ii) Orange salary account (Average salary more than 25,000)
• Zero balance account.

• Free unlimited ATM transactions on all ING Vysya ATM’S.
• Free issue of multi city personalised payable at par cheques .
• Free of charges for pap payments.
• Free transfer of funds between accounts across all 421
networked branches. (AAA banking.)
• Free for life credit card based on the applicants eligibility.
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• AAA cash deposits are restricted to two transactions with a value
not exceeding RS. 50,000/- per month. Service charge of RS
100/- for every month that the account is overdrawn.
b) ING Vysya’s savings account:
ING Vysya Bank has a portfolio of banking solutions and a range of

offerings for people from all walks of life, with a view to making
banking an effortless task. Whether you require a simple savings
account or a sound banking partner, ING Vysya Bank has the perfect
solutions and products to ensure a wealthy future. It has two types of
savings account
• Orange savings account

• Freedom savings account
• Formula savings account
Features of these savings accounts are as follows:
i) Orange savings account:
• Quarterly Average Balance of Rs.5000/- to be maintained in the

account.
• Unlimited ATM transactions on all ING Vysya ATM’s.
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• Free Unlimited ATM transactions in over 25,000 (Cirrus) ATM’s in
India.
• Shopping convenience at over 200,000 merchant locations, with
the ING Vysya International Debit card.
• Free and unlimited issue and usage of Payable at Par (PAP)

Cheques.
• Free Electronic Bill Payment service –at select centres.
• Free Transfer of funds across all networked branches.
• Free Personal Assistance Service - Smartserv at select centres*

• Free Statement of Account through E-mail at no charge.
• Customer RTGS (Real Time Gross Settlement) transactions at
concessional rates.
• Free issue of Personalized chequebooks.

• Mi-b@nk - Internet banking facility
• Customer Service Line facility
• Free for life Credit Card based on the applicants eligibility.√
• Penalty for non-maintenance of the quarterly average balance is
Rs.600 + taxes per quarter.
• Up gradation from any other savings account of the Bank to the
Orange Savings account at no additional cost.
ii) Freedom Account
• Quarterly Average Balance to be maintained in the account

reduced to zero. (Zero Balance Account).
• Unlimited ATM transactions on all ING Vysya ATM's.
28
• Free four ATM transactions per month in over 25,000 other Bank
ATM's in India.
• Shopping convenience at over 200,000 merchant locations, with
the ING Vysya International Debit card.
• Free issue of personalized chequebooks.
• Free Electronic Bill Payment service -at select centers.
• Free Transfer of funds across all networked branches.
• Free Statement of Account through E-mail at no charge.
• Mi-b@nk - Internet banking facility
• Customer Service Line facility
• Conversion from other type of accounts to the Freedom Savings
Account is not allowed.
• Annual Maintenance Charge of Rs.1000/- + taxes to be collected
in advance, upfront from the Customer every year.
iii)Formula 1 Savings Account
• Quarterly Average Balance to be maintained in the account is Rs.

25000.
• Fill fuel across any petrol pump in India and get the 2.5%
surcharge waived.
• Free issue of ING FORMULA International debit card can be used
across 11 million merchants worldwide
• Contest for gift vouchers on F1 race days for customers on their
debit card usage.
• Free Spend based formula 1 merchandise .
• Free unlimited usage of ATMs & Self banking Kiosks.
• Free unlimited usage of other bank ATMs on the Maestro Cirrus
network.
29
• Enhanced ATM cash withdrawal limit of Rs. 50,000/- per day in
own ATMs / other bank ATMs.
• Free issue of DDs up to Rs. 50,000/- per month without
commission/charges.
• Free Internet Banking facility (special looks & feel for ING
Formula MiBank customers , Value added benefits like games /
quiz/Formula 1 trivia etc.
• Free SMS alerts to customers on transaction value > Rs.1500/-
• Free bill pay facility through internet banking.
C) ING VYSYA’S CURRENT ACCOUNT
In today's fast-paced world, business regularly requires one to receive

and send funds to various cities in the country. ING Vysya Bank Orange
Current Account gives one the power of inter-city banking with a single
account and access to more than 200 cities.
From personalized cheques that get treated at par with local ones in
any city where we have a branch, to Free collection (if instruments are
lodged directly) of outstation cheques (payable at branch locations), to
free inter-city funds transfers of up to 200 lakhs per month, the bank’s
priority services have become the benchmark for banking industry.
There are three products under ING Vysya’s current account, they are:
• General current account
• Advantage current account
• Orange current account
30
Features of ING Vysya’s current account are:
i) General account
• Access your account from any of the networked branches across

India
• Deposit cash at any of the branches (networked) across India
• International debit card cum ATM card to access your account
from the wide network of ING Vysya bank ATMs and self banking
across the country
• Enjoy FREE 24- hour Phone Banking and Net Banking facilities
that helps you check your balance and other details
• Attractive rates for inter-city/inter-branch transactions (Please
refer Service Charges chart for details)
• Utilize a safe deposit locker (available at selected branches) for
your valuables and important documents
• Personalized cheque book for enhanced security
• Cash pick up and delivery services at selected centers ( subject
to approval of RBI)
ii) Advantage current account
• Free remittance limit (DD/ PO/ PAP/ RTGS/ EFT/ NEFT) of Rs. 50
lakhs p.m.; power packed features with potential to save upto
Rs.1.20 lakhs p.a.
31
• Free collection of outstation cheques at all branches of the Bank
on local collection basis. #
• Free unlimited transfer of funds within the Bank
• Easy anywhere cash deposit and withdrawal (up to specified limit
for self only)
• Personalized cheque books and personalized payable at par
cheques
• Free SMS alerts *
• Free standing instructions facility * for regular payments
• Free ATM cum debit card with access to any ATM, of any bank ^
• Avail safe deposit locker facility (where available) on a
preferential basis
• Free 24 hours Customer Service Line (toll free)
• Multiple channels to access your account and many more
Features indicated above are available against stipulated Quarterly

Average Balance. Non-maintenance attracts penalty besides charges
will be levied for facilities.
• Customers to lodge the cheques directly with ING Vysya Bank at
the location at which the cheque is payable.
Saving of Rs. 1.2 lakhs p.a. is calculated at 20ps % and is subject to

usage of full limit of free remittance of Rs.50 lakhs p.m.
• On the cirrus network
iii) Orange current account
32
• Free remittance limit (DD /PO /PAP /RTGS /EFT / NEFT) of Rs.2
crores per month; power packed feature with potential to save
upto Rs.4.8 lakhs per annum.
• Free collection of outstation cheques at all branches of the Bank
on local collection basis .
• Free mi-b@nk Internet Banking facility.
• Free unlimited transfer of funds within the bank.
• Easy anywhere cash deposit and withdrawal (upto specified limit
for self only.
• Free personalized cheque book (including PAP cheques).
• Avail safe deposit locker facility (where available) on a
preferential basis.
• Free ATM cum debit card with free access to any ATM of any
bank.
• Free 24 hours Customer Service Line (toll free).
• Multiple channels to access your account.
• Free standing instructions facility for regular payments and many
more
* Features indicated above are available against stipulated Quarterly

Average Balance of Rs 1 lakh.
Non - maintenance attracts penalty besides charges will be levied for
usage of facilities.Please check for details
#Customers to lodge the cheques directly with ING Vysya Bank at the
location at which the cheque is payable.
* Conditions apply. Bank reserves the right to change, modify or delete
some of the features, without notice.
33
* Saving of Rs.4.8 lakhs per annum is calculated at 20 ps. percent and
is subject to usage of full limit of free remittance package of Rs.200
lakhs
Per month On the Cirrus network.
Customer Profitability Matrix
34
High AUM per customer and low High AUM per customer & good
revenue per customer. revenue generation per customer
Faridabad
Low AUM per customer and low Low AUM per customer but good
revenue per customer revenue generation per customer
COMPARATIVE ANALYSIS
35
6.1.1 Comparative analysis of ING VYSYA Bank’s
salary account features with other banks.
I) ING VYSYA V/S ICICI
FEATURES ING VYSYA ICICI
36
Min balance to be Zero Zero
maintained
ATM card Free of cost to every Free of cost to every
account holder account holder
Internet banking Available Available
Mobile banking Available Available
Online transfer of funds Available Available
Phone banking Available Available
Reimbursement account Not available Available

∗
OD facility Available, at 18% for no. Not available
of days overdrawn
Cash delivery and Not Available Available
cheque pick up facility
Cash withdrawal charges First 6 withdrawals free First withdrawal is
from ATM of cost from any cirrus free rest are charged
network ATM at Rs.5 per 1000
subject to min. of
Rs.150
Debit card fees for joint Free Rs.99 per annum
account holder
Issue of personalized Free Free
cheque books
Issue of PAP cheque Free for orange salary Rs.2 per leaf for every
books account holders and Rs.2 account holder
per leaf for advantage
salary acc.
*Reimbursement account:
37
If you opt to disburse/reimburse the travel, food etc. expenses via
reimbursement accounts, a reimbursement account can be opened
simultaneously along with the Salary Account savings bank account,
which would be linked together with the debit card already held by
your employee.
Though features of both the banks are almost similar but the repute
enjoyed by ICICI is commendable. The reason for this could be the time
span by which ICICI came earlier and cashed on the opportunity of
establishing it self in all the spheres. Other reasons could be:
1. Wide network of its branches and ATMs all over India, which
makes it reliable.
2. Strong brand recognition in the minds of people.
3. Its facility of letting the customer transfer its fund online
instantaneously where as in case of ING Vysya it takes one whole
day to make it effective, though both the banks provide this
facility of net banking.
4. A positive point with ING Vysya is that it offers free PAP cheque
books to all of its orange salary account holders where as it is
chargeable in case of other banks.
5. While talking to some customers of ICICI they complained about
some hidden charges, which they said they never mentioned in
the beginning (though they refused to disclose what these
charges were.)
II) ING VYSYA V/S HDFC
HDFC, one of the very popular brands in terms of corporate sales as

well as other products, has features more or less same as ING Vysya
but enjoys a very reputable stature. Like ING Vysya it also has two
38
products in case of salary accounts, classic and regular. Under classic,
employees having monthly income Rs.7500 to Rs.14999 open their
accounts while in regular; employees having their monthly income
above Rs.15000 have their accounts. Its comparison can be done on
following grounds:
FEATURES ING VYSYA HDFC

Minimum balance to Zero Zero
be maintained
Statement of accounts Quarterly free of cost to Six monthly to classic
every employee salary account holders
and quarterly to regular
salary account holders
Cash withdrawal First 6 withdrawals free First 4 withdrawals free
charges from ATM of cost from any cirrus of cost from any cirrus
network ATM network ATM
PAP cheque books Free for orange salary Chargeable for every
account holders and Rs.2 body
salary acc
Cash delivery and Not available Available at selected
cheque pick up facility centers
Free phone banking Available Available
Free net banking Available Available
Issue of international Free for every body Only for regular salary
debit card account holders
Safe deposit lockers Not Available Subject to availability
39
Available, at 18% for no. Available at 1.5%+ 12%
OD facility of days overdrawn (service charge) for no.
of days overdrawn
HDFC again is one of the most renowned and respected banks in our
country and has the advantage of coming in to existence earlier, over
ING Vysya. The brand value that it enjoys is commendable and it
seems that it is one of the reasons why people prefer HDFC over ING
Vysya. Apart from this other reasons contributing to it could be:
1. Wide network of its branches and ATMs all over India, which
makes it reliable.
2. Strong brand recognition through advertisements and other
sources.
3. RBI guide lines doesn’t allow ING VYSYA which is an MNC bank to
open their ATMs in company premises which is not the case with
banks like HDFC and ICICI hence companies which are already
with these banks and enjoy this facility cant switch over even if
they want to.
III) ING VYSYA V/S YES BANK
FEATURES ING VYSYA YES BANK

be maintained
ATM transactions from First 6 withdrawals free ‘N’ number of
other banks of cost from any cirrus withdrawals free of cost
network ATM from any master’s
network.
40
Reimbursement
savings account for Not available Available
expense-
reimbursement
PAP cheque books Free for orange salary Not available
account holders and Rs.2
salary acc
Cash delivery Not available Available
Internet banking Available Available, chargeable
Phone banking Available Available, chargeable
Mobile banking Available Available, chargeable
Financial planning for Not Available Available

all employees once a
quarter
Free e-mail alerts Available Available
Issue of international Free for every employee Free for selected

debit card employees
Available, at 18% for no. Not available
OD facility of days overdrawn
YES bank like ING Vysya is new on the ground and is similarly striving
for existence. Though within a short span, it has gained a strong
foothold but still it has a long way to go.
• One of the main differences between their features is the

eligibility criterion. YES bank doesn’t open the corporate salary
account of a company if its average salary (total salary being
uploaded divided by no. of employees) is less than Rs.15000.
which is not the case with ING Vysya. Due to the availability of
41
separate product, which is advantage salary account, ING Vysya
entertains even those.
• On the other hand YES Bank gives unlimited ATM transactions
with its associated banks to its customers as it knows that it
doesn’t have sufficient number of ATM outlets, where as ING
allows only 6 ATM transactions to be free of cost.
IV) ING VYSYA V/S STANDARD CHARTERED BANK
FEATURES ING VYSYA STANDARD

CHARTERED BANK
be maintained
ATM transactions First 6 withdrawals free of First 4 withdrawals free
from other banks cost from any cirrus of cost from any VISA
network ATM electronic card
network.
PAP cheque books Free for orange salary Available
salary acc
Issue of free Available Not available
Personalized cheque
books
Statement of Free, quarterly Free quarterly, Rs.59

accounts additional for every
42
month you required it
extra.
Available, at 18% for no. of Not available

OD facility days overdrawn
Shopping At 2,00,000 merchant Not available
convenience locations
D.D’s/P.O’s 2, free of charge for an Chargeable
amount not exceeding
Rs.10, 000
Standard chartered again enjoys a status of a very reputable bank and

has a strong brand value compared to ING Vysya bank. The reliability
factor is quite high in its case; where as people still think quite a lot
before they go for choosing ING Vysya bank. As far as comparison is
concerned it can be seen that
i. Standard Chartered Bank offers 4 transactions free of cost from VISA

electronic card where as ING Vysya offers minimum 6 transactions free
of cost.
ii. ING Vysya bank gives the OD facility where as Standard Chartered
doesn’t.
iii. ING Vysya offers 2 D.D’s/P.O.’s free of cost where as Standard

Chartered doesn’t.
43
V) ING VYSYA V/S ABN AMRO BANK
FEATURES ING VYSYA ABN AMRO BANK

Minimum balance to zero Zero
be maintained
ATM card Free of cost to every Free for every body

account holder
ATM transactions First 6 withdrawals free of Free with UTI Bank
from other banks cost from any cirrus ATMs, from others it
network ATM charges Rs.26 per
transaction
PAP cheque books Free for orange salary Not available
salary acc
44
Issue of free Available Available, Rs.20 for
Personalized cheque issue of next cheque
books book
Statement of Free, quarterly Free, quarterly

accounts
Available, at 18% for no. of Not available
OD facility days overdrawn
D.D’s/P.O’s 2, free of charge for an Available, but not free
amount not exceeding
Rs.10, 000
As we can see that features of ING Vysya and ABN Amro bank are
almost same but both the banks are new and have a long way to go.
i. One major difference between them is their ATM facility, ING

Vysya gives minimum 6 free cash withdrawal from cirrus network
whereas ABN Amro gives free cash withdrawal only from UTI
besides itself. Since the bank is new and doesn’t have a good
ATM network it should work on establishing its own network.
ii. ING Vysya bank gives the OD facility where as ABN Amro
doesn’t.
iii. ING Vysya offers 2 D.D’s/P.O.’s free of cost where as ABN Amro
doesn’t.
6.1.2. Comparison of ING Vysya’s saving account with

the savings account of other banks
45
i) ING VYSYA V/S STANDARD CHARTERED BANK.
FEATURES ING VYSYA STANDARD CHARTERED

BANK
NO. OF PRODUCTS Two: orange savings Two: aassan and axcess
account and freedom plus
account
Average quarterly account Rs.5,000 on orange, and Rs.10,000 for aassan
balance nil for freedom and 10,000+ for axcess
Statement of account Quarterly free, and Quarterly free
monthly e-statement
free(if asked for)
ATM usage 4 free for freedom 4 free if average
account, unlimited free quarterly balance is
on cirrus for orange maintained; unlimited
account holders ;un free from standard
limited from ING Vysya chartered.
Regular debit card Rs.200 Free
Gold debit card Rs.799 Not available
D.D. Rs.50 for amt up to Min Rs.50 up to 10,000.

Rs.10,000;Rs.2.50 per then 0.25% on part
1000 for amt up to there of.
50,000;Rs 2 per 1000 for
amt greater than 50,000
Pay order (P.O.) Same as above. Rs.75 for aassan and
Rs.50 for Axcess.
Branch transaction Free for both Free, and Rs.50 if
average quarterly
balance is not
maintained.
Personalized cheque Free Free, otherwise Rs.50
books
46
Balance enquiry Free Rs.20
ii) ING VYSYA V/S YES BANK

NO. OF PRODUCTS Two: orange savings Two: savings account,
account and freedom gold savings account.
account
Average quarterly account Rs.5,000 on orange, and Rs.10,000 for savings
balance nil for freedom account and Rs.100000
for gold savings
account.
Fee for non maintenance Rs.600 per quarter Rs.300 for savings
of quarterly average account and Rs.600 for
balance gold saving account.
Statement of account Quarterly free, and Quarterly free for both.
monthly e-statement free
(if asked for).
ATM usage 4 free for freedom Unlimited free on all the
account, unlimited free banks in India.
on cirrus for orange
account holders ;un
limited from ING Vysya
Regular debit card Free for first year, then Rs.149 for savings
Rs.150 there after. account, free for gold
savings account.
Gold debit card Rs.799 Rs.799
D.D. Rs.50 for amt up to Min Rs.50 then Rs.2.5

Rs.10,000;Rs.2.50 per per 1000 for savings
1000 for amt up to account and Rs.1.5 per
50,000;Rs 2 per 1000 for 1000 for gold savings
47
amt greater than 50,000 account.
Pay order (P.O.) Same as above. 5 free for savings

account and 10 free for
gold savings account,
per year
Branch transaction Free for both the account 5 transactions for
holders savings account and 10
transactions for gold
savings account are
free per year
Personalized cheque Free Free
books
Balance enquiry Free Free
iii) ING VYSYA V/S ABN AMRO
FEATURES ING VYSYA ABN AMRO BANK

NO. OF PRODUCTS Two: orange savings Two: flex plus and flex
account and freedom advantage account
account
Average quarterly account Rs.5,000 on orange, and nil Rs.10000 for flex plus and
balance for freedom nil for flex advantage.
Fee for non maintenance of Rs.600 per quarter Rs.300 if its greater than
quarterly average balance 7500/-, Rs.400 if its
greater than 5000 and
Rs.500 if its less than
5000.
Statement of account Quarterly free, and monthly Quarterly free, monthly e-
e-statement free (if asked statement free.
for).
ATM usage 4 free for freedom account, Free on ABN AMRO and
unlimited free on cirrus for UTI withdrawal,
orange account holders ;un
48
Regular debit card Free for first year then Rs.180
Rs.150 per annum.
D.D. Rs.50 for amt up to Rs.50 on own branches
Rs.10,000;Rs.2.50 per 1000 0.25% on other’s
for amt up to 50,000;Rs 2 branches.
per 1000 for amt greater
than 50,000
Pay order (P.O.) Same as above.
Branch transaction Free for both Free
Personalized cheque books Free Free
Balance enquiry Free Rs.5 on master card

ATMs.
iv) ING VYSYA V/S ICICI BANK
FEATURES ING VYSYA ICICI BANK

NO. OF PRODUCTS Two: orange savings Three: category A, B
account and freedom and C.
account
Average quarterly account Rs.5,000 on orange, and Rs.5000 for A, Rs.2000
balance nil for freedom for B, and Rs.1000 for
C.
Fee for non maintenance Rs.600 per quarter Rs.750 per qtr for A & B
of quarterly average and Rs.100 per qtr for
balance C.
Statement of account Quarterly free and Free physical statement
monthly e-statement free per qtr otherwise
(if asked for). Rs.200 per month for
physical form. Free e-
49
statement per month.
ATM usage 4 free for freedom Rs.20/month for cash

account, unlimited free withdrawal & and Rs.60
on cirrus for orange for same with non
account holders ;un partner banks.
Regular debit card Free for first year then Rs.99 per annum for all
Rs.150 per annum. the products.
D.D. Rs.50 for amt up to Rs.2 per thousand
Rs.10,000;Rs.2.50 per rupees or part thereof,
1000 for amt up to subject to a minimum
50,000;Rs 2 per 1000 for of Rs.50
amt greater than 50,000
Branch transaction Free for both Rs.2.50/
thousand, subject to
min of Rs.30
and max of Rs.10000
Personalized cheque Free 2 payable at par
books cheque books of 25
leaves each free in a
quarter, Rs.50/- for
additional cheque book
of 25 leaves.
Balance enquiry Free Rs.10 with partner
banks & Rs.25 with non
partner banks.
v) ING VYSYA V/S HDFC BANK
FEATURES ING VYSYA HDFC BANK
50
NO. OF PRODUCTS Two: orange savings Three products: regular,
account and freedom savings plus & savings
account max; each of which are
further divided into
option 1 and 2.(I have
taken comparative
product that is option 1
of regular savings acc.)
Average quarterly Rs.5,000 on orange, and Rs.5000
account balance nil for freedom
Fee for non maintenance Rs.600 per quarter Rs.750 per qtr.
of quarterly average
balance
Statement of account Quarterly free and Monthly statements to be
monthly e-statement free Collected from branch.
(if asked for). Quarterly statements
sent by post
ATM usage 4 free for freedom First 4 withdrawals free
account, unlimited free of cost from any cirrus
on cirrus for orange network ATM
account holders ;un
Regular debit card Free for first year then Rs.100 plus taxes
Rs.150 per annum.
D.D. Rs.50 for amt up to Rs.50 for amt up to
Rs.10,000;Rs.2.50 per 10000, Rs.75 for amt
1000 for amt up to greater than 10000 and
50,000;Rs 2 per 1000 for up to up 50000, Rs. 2.50
amt greater than 50,000 per 1000 or part thereof
(Min Rs.150) for amt
greater than 50000
Pay order (P.O.) Same as above. Same as above.
Branch transaction Free for both Free 3 free in the qtr &
Rs. 60 per additional
transaction on non-
51
maintenance of Min
balance (cash
deposit/withdrawal)
Personalized cheque Free Free, Rs.5 per leaf on non
books maintenance of Min
balance
Balance enquiry Free Free
6.1.3. The comparison of ING Vysya’s current account
with similar product of other banks is given below:
I) ING VYSYA V/S HDFC BANK
FEATURES ING VYSYA HDFC

Number of products Three: general, Four: plus, trade,
advantage and orange premium, and regular
Average quarterly Rs.10000 for general CA, Rs.100000 for plus,
balance Rs.50000 for advantage Rs.40000 for trade,
CA, & Rs.100000 for Rs.25000 for premium, &
orange CA Rs.10000 for regular
Fee for non maintenance Rs.750 pq for GCA, Rs.6000 for plus, Rs.1200
of AQB Rs.1500 pq for ACA, & for trade, Rs.900 for
Rs.4000 pq for OCA. premium and Rs.750 for
regular.
Statement of account Free once in a month Free once in a month
(physical or e-mail)
Issue of cheque book Rs.2.5 per cheque leaf PAP cheque books; 300
for GCA and free for leaves free pm for plus,
others 200 leaves free pm for
trade, 100 leaves free
pm for premium and Rs.2
per leaf for regular
52
ATM usage Free usage of ING Vysya, Free usage of HDFC bank
Rs.45 on withdrawal from ATMs.
other banks
Issue of international Free for 1st year, Rs.150 Free for first year
debit card there after
Transfer from one Free for all Free for all
account to other
(intercity)
D.D/P.O. Free as per schedule for Free up to 50 DDs per
GCA, free up to 50 lkhs month. Above 50
per month then charges transactions, charges @
as per schedule for rest, Rs. 25/- per DD for plus,
in case of ACA and for Free up to 30 DDs per
OCA free up to 200 lkhs month. Above 30
then charges as per transactions, charges @
schedule on the greater Rs. 25/- per DD for trade;
amount. DD Amount Up to Rs.
50,000 charges Rs. 40/-
per DD, Above Rs. 50,000
and up to Rs. 100,000-
Rs. 25/-, Above Rs.
100,000- Free for
premium and DD Amount
Up to Rs.50,000 charges
Rs.40/- per DD, Above
Rs.50,000 and up to
Rs.100,000- Rs.25/-,
Above Rs.100,000- Free
for regular.
Charges for PAP cheque Rs.0.50/1000 with a min Free in the manner as
payments of Rs.5 per payment in stated above.
case of GCA, free up to
cumulative value of 50
lkhs pm then same is
followed as in GCA, for
53
OCA free up to a
followed as in GCA.
Balance enquiry Rs.15 for all Rs.25 for all
II) ING VYSYA V/S ABN AMRO BANK
FEATURES ING VYSYA ABN AMRO

Number of products Three: general, Three: value + silver 40,
advantage and orange value + gold 100, and
value + gold 500.
Average balance Rs.10000 for general , Rs.40000 for value +
Rs.50000 for silver 40, Rs.100000 for
advantage ,& Rs.100000 value + gold 100 and
for orange(quarterly) Rs.500000 for
value+gold 500(daily)
Fee for non maintenance Rs.750 pq for GCA, Rs.250-Rs.750 pm for
of AQB Rs.1500 pq for ACA, & value +silver, Rs.500-
Rs.4000 pq for OCA. Rs.1200 pm for
value+gold100, Rs.1000-
Rs.3000 for value + gold
500.
54
Statement of account Free once in a Free once in a month.
month(physical or e-mail)
Issue of cheque book Rs.2.5 per cheque leaf Only payable at par
for GCA and free for cheque books( charges
others given below)
ATM usage Free usage of ING Vysya, Free usage at ABN AMRO
Rs.45 on withdrawal from and Rs.5 at UTI banks
other banks and Rs.20 at cirrus
network.
Issue of international Free for 1st year, Rs.150 Not available
Transfer from one Free for all Free, unlimited
account to other (with in
own bank, intercity)
D.D/P.O. Free as per schedule for Rs.200000 pm at 0.20%
GCA, free up to 50 lkhs with min of Rs.50 for
per month then charges value+silver40;
as per schedule for rest, Rs.2000000 pm at 0.15%
in case of ACA and for with min of Rs.50 for
OCA free up to 200 lkhs value + gold 100;
then charges as per Rs.4000000 pm at 0.15%
schedule on the greater with min of Rs.50.
amount.
Charges for PAP cheque Rs.0.50/1000 with a min Rs.225 for 25 leaved
payments of Rs.5 per payment in cheque book for value+
case of GCA, free up to silver 40, same cheque
cumulative value of 50 book free for the rest.
OCA free up to a
followed as in GCA.
Balance enquiry Rs.15 for all Rs.5 at UTI and Rs.20 at
cirrus network.
55
III) ING VYSYA V/S STANDARD CHARTERED BANK
FEATURES ING VYSYA STANDARD

CHARTERED BANK
Number of products Three: general, Five: business plus 25,
advantage and orange business plus, enhanced
business plus 100,
enhanced business plus
500, enhanced business
plus 1000.
Average quarterly Rs.10000 for general CA, It is Rs.25000, Rs.50000,
balance Rs.50000 for advantage Rs.100000, Rs.500000
CA, & Rs.100000 for and Rs.1000000
orange CA respectively for the
above products.
Fee for non maintenance Rs.750 pq for GCA, Vary between Rs.750 to
of AQB Rs.1500 pq for ACA, & Rs.3000 for different
Rs.4000 pq for OCA. products.
Statement of account Free once in a Free once in a month
Issue of cheque book Rs.2.5 per cheque leaf Free personalized cheque
for GCA and free for books to every one.
others
ATM usage Free usage of ING Vysya, Free at standard
Rs.45 on withdrawal from chartered bank ATMs and
other banks Rs.50 at visa ATMs for all.
Issue of international Free for 1st year, Rs.150 Instead they offer gold
debit card there after card at an annual fee of
Rs.799 to every one.
Transfer from one Free for all Free for all
account to other
56
(intercity)
D.D/P.O. Free as per schedule for DD: 0.25% for business

GCA, free up to 50 lkhs plus 25, 75 per qtr free
per month then charges for business plus, and
as per schedule for rest, free for the rest.
in case of ACA and for PO: 75 free per qtr for
OCA free up to 200 lkhs business plus 25 and
then charges as per business plus, and
schedule on the greater unlimited for the rest.
amount.
Charges for PAP cheque Rs.0.50/1000 with a min Not available
payments of Rs.5 per payment in
OCA free up to a
followed as in GCA.
Balance enquiry Rs.15 for all Rs.20 for all
IV) ING VYSYA V/S YES BANK

Number of products Three: general, Four: CA 25, CA 75, CA
advantage and orange 200 and CA 500.
57
Average quarterly Rs.10000 for general CA, Rs.25000, Rs.75000,
balance Rs.50000 for advantage Rs.200000 and
CA, & Rs.100000 for Rs.500000 respectively
orange CA for the above products.
Fee for non maintenance Rs.750 pq for GCA, Rs.1000, Rs.1500,
of AQB Rs.1500 pq for ACA, & Rs.2000, and Rs.4000
Rs.4000 pq for OCA. respectively for the
above products
Statement of account Free once in a Free once in a month.
Issue of cheque book Rs.2.5 per cheque leaf Rs.2 per leaf for CA 25
for GCA and free for and unlimited free for the
others rest.
ATM usage Free usage of ING Vysya, Information not available.
Rs.45 on withdrawal from
other banks
Issue of international Free for 1st year, Rs.150 Information not available.
Transfer from one Free for all Rs.25 lakhs per month
account to other subsequent 0.50 per
(intercity) Rs.1000 for CA 25, Rs.50
lakhs per month
subsequent 0.50 per
Rs.1000 for CA 75, and
unlimited for the rest.
D.D/P.O. Free as per schedule for DD:2 Free Per Month
GCA, free up to 50 lkhs Min-Rs.100 Max-Rs.5000
per month then charges for CA 25, 5 Free Per
as per schedule for rest, Month
in case of ACA and for subsequent Rs.1.75 per
OCA free up to 200 lkhs rs.1000 or part there of
then charges as per Min- Rs.100 Max-Rs.5000
schedule on the greater for CA 75, 5 Free Per
amount. Month subsequent
Rs.1.50 per rs.1000 or
58
part there of
Min- Rs.100 Max-Rs.5000
for CA 200 and free for
CA 500.
PO: 2 Free Per Month
Subsequent 0.75 per
Rs.1000. Min- Rs.75 Max-
Rs.5000 for CA 25, 5 Free
Per Month. Subsequent
0.75 per Rs.1000. Min-
Rs.75 Max- Rs.5000 for
CA 75 and free for the
rest.
Charges for PAP cheque Rs.0.50/1000 with a min Free unlimited
payments of Rs.5 per payment in
OCA free up to a
followed as in GCA.
Balance enquiry Rs.15 for all Information not available.
SERVEQUAL ANALYSIS
59
6.2.1 The results of the study include analysis of the perception and
the expectation gap of between the customers and the management
respectively. Here,
• Table # 1 the average perception scores of the service quality

experienced by the customers across all the companies is shown.
• Table # 2 shows the average expectation scores as per the

management about their services.
• Table # 3 shows the overall gap between the perception and the
expectation.
TABLE # 1
SERVEQUAL DIMENSIONS AND THEIR ITEMS ‘P’ score
Tangibles
Extent to which you are satisfied with the services 6.66

provided by your bank, like ATM, cheque drop facility,
nearness to the branch, doorstep facilities, and branch
facilities
60
Assurance
Extent to which you are well informed and aware about all 6.50
products and facilities, which are provided by bank’s
literature and staff.
Responsiveness
7.90
Extent to which you are satisfied with the staff of the bank
and their act of helping you in solving your diverse
problems and giving you prompt solution.
Reliability
You feel secure about your possessions and benefits

provided by the bank through various products and
schemes
The bank’s services are as per the norms and reliable in 8.92
all respects
Empathy
Extent to which you feel that your bank understands your

needs and gives solutions as per your needs.
61
Extent to which you feel bank’s services are made for you 8.77
and staff also try to help you in all situations
(Source : primary data)
TABLE # 2
SERVEQUAL DIMENSIONS AND THEIR ITEMS ‘E’ score
Tangibles
Services provided by ING Vysya, like ATM, cheque drop 7.33

facility, nearness to the branch, doorstep facilities, branch
facilities, salary transfer e.t.c.
Assurance
Extent to which your customers are well informed and

6.25
aware about all products and facilities, which are provided
by bank’s literature and staff.
Responsiveness
62
The staff of the bank helps customers in solving their
diverse problems and giving them prompt solution.
6.91
Reliability
Customers feel secure about their possessions and

benefits provided by the bank through various products
and schemes. 7.33
The bank’s services are as per the norms and reliable in

all respects
9.25
Empathy
The bank understands their customers needs and gives

solutions as per your needs.
7.16
Bank’s services are made as per the customer needs and
staff also try to help them in all situations
6.91
(source: primary data)
63
Table # 3: aggregated dimensional scores
SERVE QUAL Dimensions P score E score Differenc

e
(P-E)
Tangibles 6.66 7.33 -1.33
Reliability 6.5 6.25 0.25
Responsiveness 7.9 6.91 0.99
Assurance 8.92 8.29 0.63
Empathy 8.77 7.04 1.73
(Source: primary data)
To study the service quality of ING Vysya bank, all those companies
which were surveyed were categorized in to three categories/groups
on the basis of their average salary uploaded and type of current
account, they have in the bank.
• Group 1 had those companies whose average salary was up to

Rs.10, 000 and no current account.
64
• Group 2 had those companies whose average salary was either
above Rs.10, 000 or was below Rs.10, 000 but had normal
current account also.
• Group 3 had those companies whose average salary was either

above Rs.20, 000 or was below Rs.10, 000 but had orange
current account also.
So once the data was collected related to perception and expectation

scores and their gap, hypothesis were made on each parameter to find
if there exists any difference between these groups using one way
ANOVA, as far as these five parameters of service quality are
concerned.
7.2.2 FORMULATION OF HYPOTHESIS
1. Ho: There is no significant difference among the groups of

companies with regards to ‘tangibles factor’ offered by the bank.
Ha: The groups of companies do differ with regards to ‘tangibles

factor’ offered by the bank
ANOVA: Single
Factor (TANGIBLES)
SUMMARY
Groups Count Sum Average Variance
(P-E)GROUP1 10 -7.8 -0.78 0.494136
-
(P-E)GROUP2 10 6.68462 -0.66846 0.104142
(P-E)GROUP3 10 -3.7 -0.37 0.273778
65
ANOVA
Source of
Variation SS df MS F P-value F crit
Between Groups 0.898734 2 0.449367 1.545888 0.231401 3.354131
Within Groups 7.8485 27 0.290685
Total 8.747234 29
Here we can see that ‘F’ value is less than the ‘F crit’ hence we accept
the null hypothesis that there is no difference between the groups as
far as tangibles are concerned.
The reasons for such indifference could be:
a) The bank is new, though it is trying to give best of its services but
still facilities can be provided in a better manner when there is a strong
network of branches. In NOIDA there is just one branch of ING Vysya
bank which is not sufficient to serve the customers in a better manner.
So in this case even the bank knows that it lacks and needs
improvement and has fewer expectations which match the perception
so there is no much difference between the groups.
b) Same is the case with no. of ATMs which even the bank knows so it
has rated itself lower in tangibles.
So in short the main reason for indifference is the familiarity of the

employees of the bank with the problems that bank is facing which has
lowered its expectations.
66
companies with regards to ‘assurance factor’ offered by the bank.
Ha: The groups of companies do differ with regards to ‘assurance

ANOVA: Single
Factor (ASSURANCE)
SUMMARY
0.03001
(P-E)GROUP1 10 -1.58333 -0.15833 5
3.80769 0.04444
(P-E)GROUP2 10 2 0.380769 4
0.23288
(P-E)GROUP3 10 8.7 0.87 9
ANOVA
Source of
5.29149 25.8248 3.35413
Between Groups 3 2 2.645746 6 5.39E-07 1
2.76613
Within Groups 9 27 0.10245
8.05763
Total 1 29
67
Here it can be seen that ‘F’ value is greater than ‘F critical’ hence we
reject the null hypothesis and so there exist some difference between
the groups regarding assurance of the bank.
Under reliability it was asked to people if they are
informed about various products and schemes that are launched by
the bank through any means and to this we received different answers
and it proved to be a weak area for the bank in terms this difference.
According to me reasons for this could be:
a) Group 1 companies are generally the export houses, or small

companies whose average salary is not much and the level of
education among the employees there, is not equivalent hence
most of them don’t even know how to use internet, which is a
common source of informing people
b) It was noticed that most of the companies in group 1 and 2 are

from locations which are quite far from the NOIDA branch of ING
Vysya so they wanted some body to visit them often so that they
can get these information easily so they were not satisfied with
the bank in this regard on the other hand group three companies
are generally the call centers whose employees are tech- savvy
and hence get the relevant information on their e-mails.
The bank’s average expectations are coming to be around 6.25 and

the groups’ perception were generally lower in case of group 1 and
almost the similar and higher respectively for group 2 and 3 than the
same number.
68
companies with regards to ‘responsiveness factor’ offered by the bank.
Ha: The groups of companies do differ with regards to

‘responsiveness factor’ offered by the bank
ANOVA: Single Factor (RESPONSIVENESS)
SUMMARY
0.10925
(P-E)GROUP1 10 7.3 0.73 9
0.05101
(P-E)GROUP2 10 10.64615 1.064615 9
0.23333
(P-E)GROUP3 10 13.8 1.38 3
ANOVA
Source of
Between 2.11311 1.05655 3.35413
Groups 6 2 8 8.052796 0.001808 1
3.54250 0.13120
Within Groups 5 27 4
5.65562
Total 1 29
Here we can see that ‘F’ value is greater than the ‘F critical’ hence we
reject the null hypothesis and there exists difference between the
groups.
Under responsiveness the question was regarding the employees that
if they listen to their problems and give them prompt solutions.
According to me for the whole span of two months during which I
69
worked for the bank I saw that each employee be it of any hierarchy
use to listen to problems of those who came to bank, very sincerely so
there is no doubt that they don’t listen. But reasons for the difference
in service quality could be due to following:
a) The group 1 companies which are generally small companies are

scattered in NOIDA and Greater NOIDA, the customers don’t
want to come to branch and want every thing to be done right
from their office which is not possible every time and this
becomes their reason for grief that bank doesn’t listen to them
where as group 3 companies which are few in number and are
big ones are in NOIDA itself and coincidently nearer to the
branch too, so there is no problem for the employees of the bank
to go to visit them and vice-versa.
b) For all those who came to the branch with their problems there is
not a single case when the problem wasn’t solved. The main
problem here again lies with the network of branches and ING
Vysya seriously needs more number of branches in NCR.

companies with regards to ‘reliability factor’ offered by the bank.
Ha: The groups of companies do not differ with regards to

‘reliability factor’ offered by the bank
ANOVA: Single Factor RELIABILITY
70
SUMMARY
(P-E)GROUP1 10 7.183333 0.718333 0.025386
(P-E)GROUP2 10 5.1 0.51 0.026561
(P-E)GROUP3 10 5.9 0.59 0.090667
ANOVA
Source of
Between Groups 0.220907 2 0.110454 2.323483 0.1172 3.354131
Within Groups 1.283525 27 0.047538
Total 1.504433 29
Here, ‘F’ value is less than the ‘F critical’ value hence the null
hypothesis is accepted and there is no difference between the groups
regarding reliability of the bank.
Under reliability we asked the customers if they feel
secure about their possessions and if they feel that bank’s services are
as per the norms of the RBI to which almost all of them rated between
8 and 10 which shows that the bank is credible in the eyes of its
customers and all the customers are treated in the same manner by
the bank.

companies with regards to ‘empathy factor’ offered by the bank.
Ha: The groups of companies do not differ with regards to ‘empathy

71
ANOVA: Single Factor (EMPATHY)
SUMMARY
0.05563
(P-E)GROUP1 10 17.35 1.735 3
16.8307 1.68307 0.03839
(P-E)GROUP2 10 7 7 6
(P-E)GROUP3 10 18.6 1.86 0.02
ANOVA
Source of
Between 0.16540 0.08270 2.17589
Groups 9 2 5 4 0.133006 3.354131
1.02625
Within Groups 7 27 0.03801
1.19166
Total 6 29
For empathy also the value of ‘F’ is less than the ‘F critical’ hence the
null hypothesis is accepted that there is no difference between the
groups regarding empathy shown by the bank.
Under empathy it was asked to customers if they feel that bank
understands the customer needs and provide the solutions as per the
needs and if they feel that bank’s services are made as per their
requirements to which most of them replied in
7.2.3 GRAPHICAL REPRESENTATION OF THE DATA
72
Following is the graphical representation of average perception scores
given by the 30 companies for various parameters of SERVE QUAL
model. Where
X-axis represents the range of scores and

Y-axis represents the frequency.
1. Tangibles:
Services provided by ING Vysya, like ATM, cheque drop facility,

nearness to the branch, doorstep facilities, branch facilities, salary
transfer e.t.c.
RANGE OF SCORES GIVEN BY THE COMPANIES

FOR TANGIBLES
20 19
15
10 Series1
7
5 4
0
0
2.0-4.0 4.1-6.0 6.1-8.0 8.1-10.0
The graph represents the frequency of companies lying in the given

categories of scores as per their response to the tangibles.
2. Assurance
73
Extent to which customers are well informed and aware about all
products and facilities, which are provided by bank’s literature and
staff.
RANGE OF SCORES GIVEN BY THE COMPANIES

FOR ASSURANCE
25
21
20
15
Series1
10 8
5
1
0
0
2.0-4.0 4.1-6.0 6.1-8.0 8.1-10.0

categories of scores as per their response to the reliability of the bank.
3. Responsiveness
The staff of the bank helps customers in solving their diverse problems
and giving them prompt solution.
74
RANGE OF SCORES GIVEN BY COMPANIES FOR
RESPONSIVENESS
14 13
12
10
10
8
6 Series1
6
4
2 1
0
0
5.0-6.0 6.1-7.0 7.1-8.0 8.1-9.0 9.1-10.0
The graph above represents the frequency of companies lying in the

given categories of scores as per their response to the responsiveness
of the bank.
4. Reliability:
It represents the average range of scores for the following two
questions-
Customers feel secure about their possessions and benefits provided

by the bank through various products and schemes.
The bank’s services are as per the norms and reliable in all respects
75
RELIABILITY
20 17
15
11
10 Series1
5 2
0
7.1-8.0 8.1-9.0 9.1-10.0

categories of scores as per their response to the reliability of the bank.
5. Empathy: It represents the average range of scores for the

following two questions-
The bank understands their customers needs and gives solutions as

per your needs.
Bank’s services are made as per the customer needs and staff also try
to help them in all situations
76
EMPATHY
24
25
20
15
Series1
10 6
5
0
0
7.1-8.0 8.1-9.0 9.1-10.0

categories of scores as per their response to the empathy shown by
the bank.
6. Besides the research, part of my job was also the corporate sales i.e.
I was suppose to sell the salary account of the bank. So for that I use to
first make a cold call in the companies, find out which bank are they
with for salary account purpose and how would they like to switch to
ING Vysya. Some companies open such accounts in 2-3 banks also so I
used to convince them to make ING Vysya at least their second choice.
While making the sales call for pursuing companies to open the salary
accounts of their employees in ING Vysya bank, there emerged a
picture of how popular different banks are. Given below is a graph
based on that picture of approximate market share hold by the banks.
77
On an average out of 100 calls made 26 said they are with ICICI and
doesn’t want to change, 23 said they are with HDFC and are satisfied,
5 said they are with ABN Amro and want to continue, 10 said they are
with standard chartered bank and are satisfied with their services, 3
were with YES bank and have tied up recently so cant change.
SWOT ANALYSIS
SWOT Analysis of ING Vysya Bank Ltd.:
Strengths Weaknesses
Global and trusted brand Low on exposure
High investment in e- Payments Limited ATM networks
Ongoing technology reinvestment Less advanced

technology
Dedicated & Customised Client Solutions
Providing innovative products & Services
Leverage technology to satisfy customer demands
78
Opportunities Threats
Higher capital base Competition from other industry

rivals
First mover advantages Competition from other industry
rivals
Higher capital base Concern over NPA despite
provisioning
Fast turnaround on quotes for large volumes
79
Pie-Chart # 1: share of banks found, when sales call was made
market share
ICICI
HDFC
ABN AMRO
STANDARD
CHARTERED
YES BANK
OTHERS
80
6.3 SWOT ANALYSIS
STRENGTHS:
1. Strong brand association
The bank has got the biggest asset in the form of its association with
the ING Group of Netherlands, which is a well-known
financial house world over. The brand is considered to be a high quality
service provider.
2. Marketing strategy.
The bank has very well targeted the market and is focusing on high net
worth clientele. It gives a lot of stress in strategy making to take an
edge over other bank.
3. Sales promotion techniques
Though the bank is new on the ground but still it has endeavored to
make its mark in the minds of people through various sales promotion
techniques like calling celebrities like Amrita Arora for inaugurating an
ATM outlet and Ricky Ponting to give a speech on team work.
4. Wide network in southern India.
The bank is a well-known name in southern part of India which makes

its roots much stronger there than many of its competitors.
81
WEAKNESS:
1. Lack of network in small cities and towns
The bank still needs to work on expanding its area of operation by

opening more no. of branches. For example if we take NCR 1 branch in
NOIDA, 1 in Greater NOIDA, 1 In Gaziabad, 1 in Faridabad don’t do.
Since the Faridabad branch has a potential to discover more business.
2. Lack of brand awareness
Since the bank is new as compared to its competitors it needs to work

on promoting its brand name so that it remains there on the people’s
mind and they don’t confuse it with ICICI when they hear about it as it
happens now.
3. Lack of no. of ATM outlets all over.
Though the bank has a tie up with no. of banks which let its customers
withdraw money from there at least 6 times a month but still to make
its presence feel having a strong ATM network is very much necessary.
OPPORTUNITY
82
1. Indian multinational
Many Indian companies are now in the race of overtaking

multinationals; it’s a great opportunity for a Bank to provide their
service to these multinationals, it will help bank in building their strong
position in global market.
2. Globalization
Lots of multinationals are coming over, so having a global brand

association it can cash on it and provide its services to them.
THREATS:
1. Competitors (existing as well as new to enter)
This is one of the biggest threats that it has in front of itself. The
banking sector is witnessing and is expected to witness more players
in future. Many of the FIs are thinking of converting into banks
corporate houses are planning to launch their banks.
2. Bargaining power of buyers
Bargaining power of the buyers will be high, as they will be having lot
of service providers to choose from. This will force bank to improve
their service and emphasize upon the customer relationship
management for their survival.
83
7. CONCLUSION
1. ING Vysya has a strong brand association with an international

fame group i.e. International Netherland Group. But so far the
bank has not been able to establish it self so well here, in the
minds of people here in India, unlike its competitors.
2. Due to RBI guide lines which have been some what restrictive for
foreign players, ING Vysya cannot be blamed solely for being
unpopular. It is expected that in the time to come when these
guide lines would be relaxed ING Vysya would be able to utilize
more resources and would be able to establish itself more
efficiently.
3. The bank is facing the problem of being unpopular due to lack of

its branches and ATMS in sufficient numbers all over INDIA.
4. Even in the comparative analysis it was found that most of the

product features are almost the same, rather in some instances
ING Vysya is better for ex
a. It offers PAP cheque books to its customers where as banks

others don’t.
b. It offers 2 free DD/PO to its customers where as banks like
standard chartered don’t
c. It opens the salary accounts even at lower averages where
as other banks follow strict policies in this regard.
5. Similarly in some cases some features of other banks are better,

for ex
84
a. YES bank gives unlimited ATM transactions with its partner
banks to all of its customers where as it offers only to
orange customers
b. ICICI facilitates immediate transfer of funds which is not
the case with ING
c. Customers also complain about its late salary transfer.
8. RECOMMENDATIONS
1. The bank should first of all try to increase its network by opening
more and more branches and ATM outlets because in order to be
there in the minds of the people it should be seen every where
like ICICI and HDFC.
2. It should also use more and more media in order to be seen

more, very good attempts have been made in these lines like
calling Ricky Ponting, Amrita Arora for different purposes.
3. It should indulge more and more in to customer feed back, CRM

practices so that they can also act as unpaid ambassadors of the
bank and spread good word of mouth about its services.
4. During the survey was conducted there were some complaints of

its customers related to tangibles which need to be addressed
like:
a. ATM blockage/hanging, mainly with lower class employees
b. Delay in transfer of salaries
85
c. Delay in transfer of online funds.
d. Problems with the statement of accounts that many of
them haven’t received it.
e. These are some problems which are related to operations
and management needs to device some technique to
speed up the whole process.
5. To solve the problem of ATM blockage which apparently is due to

the fact that uneducated employees are not able to use it
properly, the bank if thinks is reasonable enough can go for
organizing some work shops for such people and teach them how
to use it, besides solving the problem it can also attract media
attention.
6. It is seen that the bank has no branch in Greater Noida so the

customers that are there are also served by the Noida branch, so
in order to ensure the satisfaction of those customers bank
needs to send some executive regularly over there who could go
and visit those places regularly which would further enrich a
good relationship between them.
7. It needs to rethink its strategy in India i.e. needs to follow

contingency approach. Since Formula 1 as a sports is not so
popular in India, so rather than going for Formula 1 Account it
could have created a product for the cricket fans, may be a
product somehow related with DLF IPL 20-20.
8. It needs to increase its frequency of advertisements on television

to get more business & create more brand awareness.
9. It needs to disclose some of the NGOs & other charitable

institutions so as to increase the business.
86
87
9. LIMITATIONS
1. There were some problems in communicating with some of the

people from the lower strata of the organization because they
were not able to make any sense out of this exercise, so it took
time to explain them the whole situation.
2. While collecting the information about the liability products from

the banks there were some problems because the employees
didn’t want to disclose their features to summer trainees but the
potential customers.
3. The management of the bank was reluctant initially to share the

data with me but after full assurance from my side of not
misusing the data and long discussion among themselves they
finally agreed to it.
4. There were financial constraints as well, otherwise the data could

have been collected from more companies and from even more
number of employees from each company.
5. The time constraint cannot be ignored because if it had been

more the I may have been exposed to more number of problems
which didn’t come in to picture by this time.
88
REFERENCES:
 http://www.ingvysyabank.com/scripts/retailbankin
g.aspx
 http://www.ingvysyabank.com/scripts/About_overv
iew.aspx
 http://www.icfaiuniversitypress.org/
 http://www.icfaiuniversitypress.org/507/pb.asp
 www.icicibank.com
 www.hdfcbank.com
 www.standardchartered.co.in
 www.abnamro.co.in
 www.yesbank.in
 http://www.iimk.ac.in/GCabstract/Ashwini
%20Awasthi.pdf
 Professional banker, ICFAI university press, vol:

April 2008
89
APPENDIX
Questionnaire
Name: Company name:
Age Designation:
Bank that carries your salary account:
Annual Salary:
up to Rs.1,00,000 Rs.1,00,000 to
Rs.2,00,000 Rs.2,00,000 to 4,00,000
Rs.4,00,000 to 6,00,000 Rs.6,00,000 and above
1. Extent to which you are satisfied with the services provided by

your bank, like ATM, cheque drop facility, nearness to the
branch, doorstep facilities, and branch facilities.
Highly satisfied satisfied moderate not
satisfied not at all satisfied
90
2. Extent to which you are well informed and aware about all
products and facilities, which are provided by bank’s literature
and staff.
3. Extent to which you are satisfied with the staff of the bank and
their act of helping you in solving your diverse problems and
giving you prompt solution.
4. You feel secure about your possessions and benefits provided by

the bank through various products and schemes.
5. The bank’s services are as per the norms reliable in all respects
91
6. Extent to which you feel that your bank understands your needs
and gives solutions as per your needs.
7. Extent to which you feel bank’s services are made for you and
staff also try to help you in all situations
92
Names of the companies who are customers of ING Vysya Bank and
from which data for SERVE-QUAL was collected.
SL.NO NAME OF COMPANY ADDRESS PHONE NO CONTACT PERSON

D-49-50, 73-74,
HOSHERY COMPLEX
PHASE-II EXTN.,
GAUTAM BUDH
RICHA GLOBALNAGAR, NOIDA-91-120-
1 EXPORTS PVT. LTD 201305 2461733/37 MR. VISHAL GARA
F-101, IST FLOOR,

ANS APPARELS ANDSECTOR-8, NOIDA-91-120- MR. NIRMAL
2 FASHION PVT. LTD. 201301 4259010/11 KUMAR KUSHWAHA
SNS BEADS 91-120-

MANUFACTURING B-12, SECTOR-2,2539100/25331 MR. SUDARSHAN
3 PVT. LTD. NOIDA-201301 31 SHARMA
F-26,BASEMENT
WINGS SALESLAJPAT NAGAR-III,91-11-
4 PROMOTIONS NEW DELHI-110024 41720582/83
A-85-86 SECTOR-63,91-120- MR. RAJU RANJAN
5 SONAL GARMENTS NOIDA 4321634-36 AZAD
C-161, PHASE-II,
PROGRESSIVE EXTENSION-NOIDA- 91-120- MR. ARVIND
6 INFOTECH (P) LTD. 201305 4393939 KUMAR AGARWAL
ZETA INDUSTRIALB-8, INDUSTRIAL91-120-

CORPORATION AREA MEERUT ROAD,2712216/27130
7 PRIVATE LIMITED GHAZIABAD-201003 32/2719451
93
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SAWHNEY 6, NOIDA COMLEX,
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IL JIN ELECTRONICSCOMPLEX, PHASE-II,91-120- MR. KULDEEP
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MADHUBAN
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LOTUS VALLEY MR. GURDEEP

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C-14, SECTOR-2,
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28 KOUSTOCOM 0120-3053814 SRIVASTAVA
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3©WORLD TRADE
TOWER NEW
ASCENT CREDITBARAKHAMBA LANE,
30 SERVICES PVT. LTD. NEW DELHI-110001 9891966220 MR. MUKESH
96

Ing Vysya Bank - Liability Product - Service Quality

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Ing Vysya Bank - Liability Product - Service Quality

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A

Comprehensive Study of Service Quality on Liability

TRAINING EXECUTED AT:

AS A REQUIREMENT IN THE PARTIAL FULFILLMENT OF P.G.D.M

SUBMITTED TO: SUBMITTED BY:

MR.KRISHNA PRASAD MR. JAGDEEP GANDHI

Enumerating and enlisting all the individuals whose contributions went

I offer my great sense of gratitude and thanks to Mr. KRISHNA

I am highly indebted to the whole corporate team of ING Vysya

I owe a special word of thanks to the management of ING Vysya

I am also grateful to all my Faculty Guide Prof.Shiladitya Dasgupta

1.1 Company profile……………………………………………

2. Review of literature ……………………………………………

6.1.1 Comparative analysis of corporate salary

6.2.1 SERVE QUAL results………………………………..

6.3 SWOT analysis……………………………………………..

It can be seen in the present scenario of banking sector i.e. post

 A complete comparative analysis of the ASPIRA account (salary

The findings of the research lead to following conclusion:

1. ING Vysya has a strong brand association with an international

3. The bank is facing the problem of being unpopular due to lack of

4. Even in the comparative analysis it was found that most of the

5. Similarly in some cases some features of other banks are

ING Vysya Bank has a portfolio of banking solutions and a

Aspira account (Salary account)

These accounts are opened by the companies for their employees to

• General current account

My project revolves around these liability products, their comparison

1.2 A word about the competitors

ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian

After consideration of various corporate structuring alternatives in the

On 29 March 1824 King Willem-I issued a royal decree creating the

The Housing Development Finance Corporation Limited (HDFC) was

HDFC was incorporated in 1977 with the primary objective of meeting

Standard Chartered Bank

The Standard Chartered Group was formed in 1969 through a merger

Both companies were keen to capitalize on the huge expansion of

In 1969, the decision was made by Chartered and by Standard to

The Chartered Bank opened its first overseas branch in India, at

Measuring Service Quality in Banks: An

Service quality has been viewed as a multi-dimensional construct in

. The objectives of the project are:

1. For the comparative analysis of

2. A well documented ‘service quality model of Parasuram

5.2 THE RESEARCH INSTRUMENT

6. DATA COLLECTION AND INTERPRETATION

a) Corporate Salary Account

This basically refers to opening of different companies

• The minimum number of employees of the corporate, whose

• Zero balance account.

ii) Orange salary account (Average salary more than 25,000)

• Zero balance account.

b) ING Vysya’s savings account:

ING Vysya Bank has a portfolio of banking solutions and a range of

• Orange savings account

Features of these savings accounts are as follows:

i) Orange savings account:

• Quarterly Average Balance of Rs.5000/- to be maintained in the

• Free and unlimited issue and usage of Payable at Par (PAP)

• Free Personal Assistance Service - Smartserv at select centres*

• Free issue of Personalized chequebooks.

ii) Freedom Account