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STUDY OF CUSTOMER SATISFACTION IN SHRIRAM FINANCE

CONTENTS
PREFACE ACKNOWLEDGEMENT CERTIFICATE DECLARATION
1. INTRODUCTION 2. CUSTOMER PERCEPTION AUDITS 3. COMPANY OVERVIEW 4. ORGANISATION CHART 5. HISTORY OR MILESTONE 6. VISSION MISSION AND VALUES 7. OBJECTIVES OF THE STUDY 8. NON BANKING FINANCIAL COMPANY 9. PRODUCT PROFILE 10. RESEARCH AND METHODOLOGY 11. OVERVIEW OF SHRIRAM FINANCE IN SAGAR CITY 12. DATA ANALYSIS AND INTERPRETATION 13. SUGGESTION 14. CONCLUSION 15. BIBLIOGRAPHY 16. QUESTIONNAIRE

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STUDY OF CUSTOMER SATISFACTION IN SHRIRAM FINANCE

PREFACE
In this project report every possible effort has been made to highlight the major aspects related to the topic PROJECT REPORT ON STUDY OF CUSTOMER

SATISFACTION ON SHRIRAM FINANCE The deals with the introductory part related to the company. The based on the research carried out for the project. This tells the details of data, how is it collected, what are the methods have been used over here, and finally also tell the limitations of the company that were found during the research work besides the limitation found in undertaking the survey. The analysis and interpretation of all the data which has presented first two chapters. This is the most important part of the project as it involves the actual working and findings of the project.

ACKNOWLEDGEMENT
Acknowledgement is not merely a formality but a deep expression of gratitude. I have tried my best to present this information as clearly as possible using basic
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STUDY OF CUSTOMER SATISFACTION IN SHRIRAM FINANCE terms that I hope will be comprehended by the widest spectrum of researchers, analysts and students for further studies. I am highly indebted to my institute BTIRT COLLEGE, SAGAR . For providing me apt facilities and support without which this project would no have accomplished. I would like to extend a sincere gratitude to Mr. JAYANT DUBEY (H.O.D).I completed this study under the able guidance and supervision Dr. Sumat Jain. I will be failed in my duty if I do not acknowledge her esteemed scholarly guidance, assistance and knowledge. I have received from her towards fruitful and timely completion of this work. Mere acknowledgement may not redeemed the debt I owe to my parents for their direct/indirect support during the entire course of this project. I also thankful to my friend who helped me a lot in the completion of this project

SHUBHI JAIN MBA 2nd Sem

DECLARATION
Dated: .......................

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STUDY OF CUSTOMER SATISFACTION IN SHRIRAM FINANCE I declare that the project report titled: PROJECT REPORT ON STUDY OF CUSTOMER SATISFACTION ON SHRIRAM FINANCE Is my own work conducted under the supervision of Dr. Sumat Jain at Department of Business Management, BTIRT,College, Sagar (M.P.). To the best of my knowledge the report does not contain any work, which has been, submitted for the award of any degree anywhere.

SIGNATURE OF STUDENT

Name of the Student


SHUBHI JAIN

MBA 2nd Semester

CERTIFICATE
Date: ........................ This is to certify that project report titled

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STUDY OF CUSTOMER SATISFACTION IN SHRIRAM FINANCE PROJECT REPORT ON STUDY OF CUSTOMER SATISFACTION ON SHRIRAM FINANCE has successfully completed by Ms. Shubhi Jain of 2nd Semester student under the guidance of Dr. Sumat Jain for the partial fulfilment for the award degree of Master of Business Administration.

Signature of Supervisor

Signature of H.O.D.

Signature of Examiner

INTRODUCTION
Like any other Financial products, sales of giving finance is largely dependent on how well company plans out their marketing strategies which helps to increase visibility and build a distinct brand image. Looking at the intense competition it is become very necessary for company to make a name for themselves in consumers mind. So the opinion of customers play an important role in BTIRT COLLEGE 5

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making marketing strategies. Hence this study will provide the company to what customers perceive about STFC. It will also help to find out the brand image of STFC in the minds of customers.

India is emerging as a global automobile giant. In recent years this industry has made pioneering efforts in adopting modern technology and allowing the entry of foreign players. This is well supported by the economic conditions particularly in the financial sector and in foreign direct investment. During the last decade, conscious efforts have been made to fine-tune state policy to enable the Indian automobile industry realizes its potential to the fullest. The freeing of the industry from this restrictive environment has helped it to itself to global development.

Increasing competition as result of liberalization has led to continuous modernization as well as international standards. Moreover, auto finance with aggressive marketing strategies has played a bid role in boosting the automobile demand. Commercial vehicles, widely considered being the economys barometer, have had a good start for the year.

The auto finance industry is expected to grow at 18.6% till 09. Of that used vehicle finance is expected to grow at 27% p.a, while new car and UV would grow at 18.9% and 13.8%.

CUSTOMER PERCEPTION AUDITS Every time you lose a customer, theres a reason why. Do you really know what your customers think about your business, your offerings, or your service? Are they having good or bad experiences? Are you equipped with the insight you need to improve customer satisfaction and loyalty, and make the changes that matter? Entrepreneurs are often too busy to really take the time BTIRT COLLEGE 6

STUDY OF CUSTOMER SATISFACTION IN SHRIRAM FINANCE


to tap into what customers are really thinking. But customers hold the key. They know what you need to do to dramatically increase the value you deliver to them. Why keep this data a secret? Uncovering and understanding it will give you what you need to be the best, generate higher sales and referrals and earn repeat business. Customer Perception Audits by Coach Kevin captures information on the experiences your customers are having, analyzes the data, and provides meaningful, actionable recommendations on short-term and long-term improvements, with the goal of closing the gap between the service that is delivered and the service that customers expect.

Opening of economy and liberalization in trade in the country brought a sea of change in customers perception of buyer and seller relationship. The customer today is not only very demanding but also likes to know the

relationship between the supplier of goods and services and its relationship with the manufacturer or principal and its antecedents. It is on this relationship depends the guarantee and warranty terms to which the customer is entitled. A customer expects trouble free service during the guarantee period. Thereafter it is expected that a product will last to its full productive life with minimum down time and the vendor will provide the required support service to ensure the customer is not put to trouble. For adopting Japanese management or for customer oriented management we should first have the willingness and a determination much above the petty personal gains. It needs an attitudinal change. Looking towards present socioeconomic and political conditions such change BTIRT COLLEGE 7

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is not foreseen in immediate future. Market forces will have to play the game with only customer in mind if India has to make global presence. There is little time in hand as we are having challenges from all sides. Small nations like Korea, Taiwan, Singapore etc. have already surpassed us. These nations are working on a vision and resultant plans. It is the right time for market players to pamper the customer. As the saying goes, the four deadly sins of corporate management-complacency, blindness, megalomania, and greed. fit everything else is overhead!. Remember that a customer always buys a product or service with a lot of expectations which he has derived from the promotional inputs of the company or other sources including word-of- mouth . So a customer would be satisfied when Performance is equal to Expectation while would not be satisfied when Performance does not match with Expectations. Now this expectation is what has been derived from perception. Perception is not good or bad, right or wrong, it is just the way someone judges an experience based on their value system of what they believe should happen. Since people are unique, each of their perceptions are unique .On the other hand each situation is a "point of contact" with an employee that will tell the customer a "truth" about the company's idea of customer service. Each situation will create expections of what the next experience will probably be like.

COMPANY OVERVIEW
Established in the year 1974, the Shriram Group, comprising 750 Branches and Service Centres, in India's premier financial services chain. This company is the largest player in Truck Financing and Chit funds in the Indian subcontinent.

The group, having an annual turnover of Rs. 6,000 crore (USD 1.3 billion), has a significant presence in the Insurance Consultancy, Consumer Durable Finance and Stock Broking

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businesses. It also have diversified investments in areas such as Information Technology, Pharmaceuticals, Property Development, Project Engineering, Packaging and Auto Components.

It employ over 11,000 employees across the countries that are committed to providing excellent customer service. It also have over 75,000 agents nationwide who reach out to its customers in even the most remote areas. The Shriram Group's business ventures are built on providing the most efficient and customer-focused services based on the simple principle of putting people first. This 'People First' business philosophy has earned them unstinted customer loyalty through many generations.

ORGANISATION CHART

BOARD OF DIRECORS

SHIRAM TRANSPORT FINANCE COMPANY LIMITED R Sridhar S. Venkatakrishnan Managing Director Executive Director

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Umesh G Revankar K.R.C Sekhar S. Ranganathan Dr. T S Sethurathnam K. Prakash Executive Director Director Nominee of Citicorp Finance (India) Ltd. Nominee of IREDA ltd. Company Secretary & Compliance Officer

HISTORY AND MILESTONE APRIL 2005: Shriram Group attracts largest Venture Capital Investment in the Indian non-banking financial sector, from Overseas JULY 2004: UTI Bank picks up equity stake in two Shriram Group companies 17MARCH 2003: Shriram Investment Limited received the Mother Teresa Award for Corporate Citizenship. BTIRT COLLEGE 10

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DECEMBER2002 Shriram Group enters into strategic alliance with Citicorp Finance and Cummins Auto Services 31AUGUST2002 Shriram Group ties up with UTI Bank for Retail Truck Financing Scheme to offer low cost loans for purchase of new or used trucks to transport operators. 7MAY2002 Ms. Akhila Srinivasan awarded as the "Outstanding Woman Professional" for the year 2002 4FEBRUARY2000 Shriram Recon Trucks incorporated as India's first corporate network for selling reconditioned used trucks. 15DECEMBER1999 Medicorp, the flagship company of Shriram groups pharmacy division became the first Indian company to win the Indian Drug Manufacturers Association 27 MARCH1986 Shriram City Union Finance Ltd. Incorporated for cars and twowheelers. 12MARCH198 Shriram Investments Ltd. Incorporated 13JUNE1979 Shriram Transport Finance Company Ltd. Incorporated BTIRT COLLEGE 11

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VISION, MISSION AND VALUES Helping create wealth, Empowering people through prosperity, Putting people first. The Shriram Group set out with the objective of reaching out to the common man with a host of products and services that would be helpful to him in his path to prosperity. Over the decades, the Group has achieved significant success in executing this objective and has created

a tremendous sense of loyalty amongst its customers.

Efficiency in operations, integrity and a strong focus on catering to the needs of the common man, by offering him high quality and cost-effective products & services, are the values driving the organization. These core values are deep-rooted within the organization and have been strongly adhered to over the decades. BTIRT COLLEGE 12

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The group prides itself on its perfect understanding of the customer. Each product or service is tailor-made to perfectly suit the needs of the customer. It is this guiding philosophy of putting people first that has brought the Group closer to the grassroots and has made it the preferred choice for all financing requirements amongst the customers.

OBJECTIVES OF THE STUDY

1. To know the perception of customers towards Shriram Transport Finance Company Limited to improve the quality of service. 2. To know whether the customers are satisfied with the present services of the company. 3. Factors considered in selecting SHRIRAM TRANSPORT FINANCE COMPANY to take finance for HVC. 4. To study the behaviour of executives of SHRIRAM TRANSPORT FINANCE COMPANY towards customers. 5. To know the awareness level of the customers towards SHRIRAM TRANSPORT FINANCE COMPANY. 6. To seek suggestions and opinions from customers regarding the improvement of services. BTIRT COLLEGE 13

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NON-BANKING FINANCIAL COMPANY (NBFC) A GENERAL SCENARIO Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 and is engaged in the business of loans and advances, acquisition of shares/stock/bonds/debentures/securities issued by Government or local authority or other securities of marketable nature, leasing, hire-purchase, insurance business, chit business but does not include any institution whose principal business is that of agriculture activity, industrial activity, sale/purchase/construction of immovable property. A non-banking institution which is a company and which has its principal business of receiving deposits under any scheme or arrangement or any other manner, or lending in any manner is also a non-banking financial company (Residuary non-banking company). DIFFERENCE BETWEEN BANKS & NBFC ?

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NBFCs are doing functions akin to that of banks, however there are a few differences: i. A NBFC cannot accept demand deposits; ii. It is not a part of the payment and settlement system and as such cannot issue cheques to its customers; and iii. Deposit insurance facility of DICGC is not available for NBFC depositors unlike in case of banks.

COMMERCIAL VEHICLE It is the funding of products include, trucks, buses, tippers, light commercial vehicles, pick ups, 3 wheelers, etc. Range of services: funding of new vehicles, refinance on used vehicles, balance transfer on high cost loans, top up on existing loans, Extend product, working capital loans & other banking products.

Who are eligible? Any individual / Partnership firm / company with more than 2 years business experience. Ownership of a vehicle is not mandatory. Funding extended to First Time User, Transporters and Captive Consumers.

How much? Loan amount can vary from a few thousands to crore depending upon the specific requirement. Funding can be up to the extent of 100 % of the chassis, body funding can be extended on special requirement & on the past experience. Generally undertaken is Hypothecation funding. They are also taking over an old highinterest loan and converting it into low interest loan. BTIRT COLLEGE 15

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Repayment: In general repayment period is of 3 -4 years, however depending on the nature of the deal the tenure can vary from 6 - 60 months. The repayment schedule & the amortization schedule is sent on disbursement of the loan.

Interest: Interest is charged on a flat rate based on the scheme applicable for the particular product.

FARM EQUIPMENT LOANS Farm equipment loan has also a big chunk in the vehicle finance.

Eligibility :Agricultural Users Any individual aged above 21 years at the beginning of the tenure and below 65 years by the end of the tenure; involved in agriculture for the last 5 years. Having minimum 2 acres of land with its value at least twice the loan amount. Staying in the same place for at least 3 years. Having an annual income equal to the yearly installment Mortgage of land of 2 to 3 times of the loan amount Commercial Users Any individual aged above 21 years at the beginning of the tenure and below 65 years by the end of the tenure; involved in business for the last 3 years. Owns at least one tractor or commercial vehicle. BTIRT COLLEGE

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Owns either a house or an office or at least 2 acres of land. Has a permanent phone connection either at office or at home. Loan Amount: The loan amount varies from customer to customer depending on the valuation of the land being mortgaged, income of the customer and tenure desired. A maximum of 100% of the cost of the tractor, 75% of the cost of the trailer and 50% of the cost of the implements is funded.

Documentation: Agricultural use Application form with photograph of the customer and all co applicants and/or guarantor. Performa Invoice of the asset to be funded from an authorized dealer. Land records of the borrower/s. Land valuation and title search report of the land. Residence proof of the borrower/s. Identity proof of the borrower/s. Signature verification of the borrower/s.

Loan agreement, duly signed by the applicants and guarantor. 2 SPDCs(Security Post Dated Cheques) for entire tenure.

Commercial Use Application form with photograph of the customer and all co applicants and/or guarantor. Proforma Invoice of the asset to be funded from an authorized dealer. BTIRT COLLEGE

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Proof of Income (any of the following) : - Billing statement for the past one year - Latest Income tax Return - Last 6 months bank statement Residence proof of the borrower/s. Identity proof of the borrower/s. Signature verification of the borrower/s. Loan agreement, duly signed by the applicants and guarantor. 2 SPDCs(Security Post Dated Cheques) for entire tenure.

Rates & Fees: The rate of interest varies from customer to customer and depends on various factors like land holding, loan amount, viability of the proposition and the underlying collaterals provided. Interest: Interest is charged on a monthly/quarterly/half-yearly reducing balance basis as the case may be. Every installment that is paid has a component of principal as well as interest. Interest is charged on the principal outstanding after every installment payment.

TWO WHEELERS: Two wheeler finance is comparably Simple, Friendly and Quick. Loan Schemes are available from Rs.7500/- onwards to Rs.150000/- in easy installments over a period of 6 to 36 months.

Eligibility Criteria: 1. Salaried Individuals BTIRT COLLEGE

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2. Self Employed Individuals 3. Pensioners, Housewives & Students 4. Partnership Entities 5. Private Limited Companies 6. Public Limited Companies

Interest rates:Interest rate is charged on a monthly reducing balance . Documents: Identity Proofs Residence Proof Income Proof Post Dated Cheques Copy of Credit Card CC billing statement Bank passbook/Statement No objection Certificate

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PRODUCT PROFILE
1.TRUCK FINANCE 1. Shriram Truck Financing Companies. The wheels of progress. 2. Largest NBFC in the country exclusively engaged in financing of heavy commercial vehicles. 3. Monopoly position in financing of used vehicles. 4. All India presence with a branch network of 260 offices and employing over 4000 people. 5. Growing at the rate of 30% per annum. 6. Funds managed Rs 6000 crores. 7. Equity investors - Citicorp,, UTI Banks, Reliance Capital and FMO Netherlands have added tremendous value and strength. 8. Venture capital firm Chris capital joins as a strategic partner by acquiring 21% equity. We entered the Consumer Durable Finance business in early 2002 through 'Shriram City Union Finance Ltd., the consumer finance arm of the group. Within a short span of 2 years, we have managed a portfolio of over Rs.584 crore.

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Our monthly business amounts to over Rs.25 crore in individual loans, ranging from as little as Rs.8,000 to Rs.1,00,000, and with tenures ranging from 12 months to 36 months. Since its inception, we have financed over 2,15,000 white goods and two-wheelers, with over 90% of the business arising out of the non-metro markets. This financing is backed by lines of credit extended by ICICI Bank, UTI Bank and Development Credit

RESEARCH AND METHODOLOGY


STATEMENT OF THE PROBLEM:The present day market is flooded with a variety of Non- banking and as well as banking financial institutions as many as if not more than companies like SHRIRAM TRANSPORT FINANCE COMPANY, Tata Finance, Sundaram finance etc. are marketing their products.

Time has become talk of the town therefore the customers give utmost priority to those financial institutions which gives loans at lower rate of interest, quick loans, documentation, percentage of finance etc. which have been exerting influence on the playing decision of the consumer.

The SHRIRAM TRANSPORT FINANCE COMPANY is the largest NBFC (Non Banking Financial Corporation) in the country exclusively engaged in financing for heavy commercial vehicles (HCV) perhaps it is the only company rendering better performance from a long period of time with the presence of all these factors. The SHRIRAM TRANSPORT FINANCE COMPANY is making sales as hotcake.

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The study on hand is directed to understand the perception of customers towards SHRIRAM TRANSPORT FINANCE COMPANY to improve the quality of service PURPOSE OF THE STUDY:The main purpose of the study is to understand the perception of customers towards SHRIRAM TRANSPORT FINANCE COMPANY which will help the company to make proper marketing strategy to render good services and satisfy the needs of the customers. The study will help the company to make proper strategies and emphasize on their weaker areas.

SCOPE OF THE STUDY :The scope of the study covers the customers of SHRIRAM TRANSPORT FINANCE COMPANY and other competitive companies in Sagar City, Transport companies etc. SAMPLING: Sample plan to know the perception of customers in this project is through personal interview.

SAMPLE UNIT: I have taken the customers who are owning a truck, Four wheeler or (HCV). SAMPLING METHOD; I have used Non- probability sampling i.e. Stratified Random Sampling. Sample size for this project is 100 customers.

RESEARCH DESIGN: In this research design of this project the study was conducted by the survey method. Taking sample of 100 customers owning trucks by commencing sampling using the research instrument as the questionnaire. BTIRT COLLEGE

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Personal interview is considered as the sample plan. For this project area of research is Sagar City. DATA COLLECTION METHOD: I have collected the data from the following sources: A. PRIMARY DATA: The data collected from the company persons. Questionnaires

B. SECONDRY DATA: Interviewing with the owners of trucks Internet Magazines, Catloges, etc

MEASURING TOOLS: For preparing this project I have considered questionnaire as measuring tool for collecting the data. Data source Area of Research Research instrument Sample plan Sample unit Sampling method Sample size : : : : : etc. : : Stratified Random sampling 100 customers Primary (Field Survey) Secondary data (internet) Sagar City Questionnaire Personal interview Truck owners, Transporters

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AN OVERVIEW OF THE SHRIRAM GROUP FINANCING BUSINESS IN SAGAR CITY

AREA OF OPERATION Branch offices Employees Customers per month Loan rates

SAGAR 2 15 50 per month Two wheelers 13% and Four wheelers 9% And above

Branch name

Shriram Fortune and Shriram city union Shriram Fortune- FD and Life Insurance

Work branch wise

Shriram city Union Finance :- Two wheelers new and Four wheelers etc

2.CONSUMER FINANCE:We entered the consumer Durable Finance Business business in early 2002. through Shriram City Union Finance Ltd. The consumer arm of the group. Within a short span o 2 years, we have managed a profile of over rest 684 crores in this business.

Our monthly business amounts to over Rs. 25 crores in individual loans, ranging from as little as Rs.8000 to Rs. 100000 and with tenures ranging from 12 months to 36 months.

Since its inception we have financed over 215000 white goods and two wheelers with over 90% of the business arising out of the non metro markets. BTIRT COLLEGE 24

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This

financing

is

backed

by

lines

of

credit

extended

by

ICICI Band, UTI Bank and Development Credit.

3.CHIT FUNDS:Shriram chits prosperity Shriram chits is the largest chits fund in the country. We have grown to become a trusted household investment option. The growth registered by Shriram Chits recent years not only indicated the usefulness of this savings instrument, but is also a reflection our customers trust in.

Chits one of the earliest investment instrument known to man, were founded by the enlightened communities of India. These have, ever since, worked to the advantages of communities that are batting scarce capital resource.

Shriram chits started its operations in the year 1974 with a single branch that has quickly grown into trusted household name for making chits a viable form of saving and borrowing to all sections of the social.

Shriram chits operates in four states. Tamil Nadu, Andhra Pradesh, karnataka and Maharastra, where has a reputation for timely disbursement of funds and excellent customer services which differen tiates it from other companies.

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Using state of the art computer systems/networks and a transparent accounting system, Shriram Chits have transformed this contemporary mehod of savings into an attractive personalised to banking system.

4.GENERAL INSURANCE:Shriram group has adopted a two strategy in this segment. 1. Broking arm Armour Consultants floated in year 2002 2. Retail Marketing Arm: Ski Marketing flotred in year 2001.

RESULTS AND DISCUSSION WITH GRAPHS AND CHARTS 1) Do you own a HCV? Table: 3.1 BTIRT COLLEGE

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Number of customers 100 Nil 100 Percentage 100% Nil 100%

Yes No Total

The information presented in table3.1 reveals that: Almost all respondents are owning Heavy Commercial Vehicle. The same information is presented in the form of diagrammatically as follows:-

Diagram-3.1
100 100 80 Percent 60 40 20 0 Yes Responses
Yes No

0 No

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2. Source of finance for your HCV? Table: 3.2 Sources Co-op banks STFC Tata finance Others Total Number of customers 4 61 19 16 100% Percentage 4% 61% 19% 16% 100%

The information presented in table3.2 reveals that: 61% respondents have taken loan from STFC . 19% respondents have taken loan from tata finance and 4% from co-op banks. While remaining 16% have taken from other finance companys. The same information is presented in the form of diagrammatically as follows:-

Diagram-3.2
70 60 50 40 30 20 10 0 61

Percent

19 4 Co-op banks STFC Tata finance Responses Co-op banks STFC Tata finance Others

16

Others

3. Are you aware of STFC? Table:3.3 Number of customers BTIRT COLLEGE Percentage 28

STUDY OF CUSTOMER SATISFACTION IN SHRIRAM FINANCE


Yes No Total 100 Nil 100 100% Nil 100%

The information presented in table- 3.3 reveals that: Almost all respondents are aware of STFC .

The same information is presented in the form of diagrammatically as follows:-

Diagram-3.3
100 80 Percent 60 40 20 0 Yes Responses No Yes No

100

S1

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4) How did you come to know about this company? Table:3.4 Sources Friends Agents Advertisements Others Total Number of customers 38 24 32 6 100 Percentage 38% 24% 32% 6% 100%

The information presented in table3.4 reveals that: 38% respondents have bought finance from STFC on the advice of their friends. 24% will seek the advice of agents. While 6% from others and 32% on the basis of Advertisements. The same information is presented in the form of diagrammatically as follows:-

Diagram-3.4
40 35 30 25 20 15 10 5 0 38 32 24

Percent

Friends

Agents

Advertisements

Others

Responses Friends Agents Advertisements Others

5. Do you get the finance quickly from STFC? Table:3.5 Number of customers BTIRT COLLEGE Percentage 30

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Yes No Total 84 16 100 84% 16% 100%

The information presented in table3.5 reveals that: 84% respondents are in favour of quick finance availability from STFC . While remaining 16% of them are not in favour of quick finance. The same information is presented in the form of diagrammatically as follows:-

D iagram-3.5
No 16%

Ye s 84% Y es No

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6) Are you satisfied with the documentation process at STFC? Table:3.6 Sources Number of customers Highly Satisfied 28 Satisfied 42 Neither satisfied/dis14 satisfied Dis-Satisfied 14 Highly dis-Satisfied 2 Total 100 Percentage 28% 42% 14% 14% 2% 100%

The information presented in table3.6 reveals that: 28% of the respondents are Highly Satisfied with the documentation process at STFC , 42% of the respondents are Satisfied and from the analysis 14% of them are Neither satisfied/dis-satisfied . Nearly 14% of the respondents are dis-Satisfied and 2% of them are Highly disSatisfied .

The same information is presented in the form of diagrammatically as follows:-

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D ia g ra m -3 .6
50 40 30 20 10 0 42 28 14 14 2 Hig h ly S a tis fie d Ne ith e r D is -S a tis fie H ig h ly d is d S a tis fie d s a tis fie d /d is S a tis fie d s a tis fie d Re sponse s
H ig hly S atis fied N eithe r s atis fied /d is -s atis fied H ig hly dis -S atis fie d S atis fied D is -S a tis fied

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7) Do you require any changes in the documentation process? Table:3.7 Number of customers 28 72 100 Percentage 28% 72% 100%

Yes No Total

The information presented in table3.7 reveals that: 28% of the respondents require changes in documentation process at STFC . While 72% of the respondents are Satisfied with the documentation process at STFC . The same information is presented in the form of diagrammatically as follows:Diagram-3.7

Yes 28%

No 72%

Yes

No

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8. What do you feel about the interest rates at STFC? Table:3. 8 Sources Very High High Moderate Low Total Number of customers 16 44 34 6 100 Percentage 16% 44% 34% 6% 100%

The information presented in table3.8 reveals that: 16% of the respondents are in favour that interest rate at STFC is very high and 44% of them are in favour of High rates. While 34% of them are in favour of moderate interest rates and 6% for low interest rates.

The same information is presented in the form of diagrammatically as follows:-

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Diagram -3.8
50 40 percent 30 20 10 0 Very High High Moderate Low Responses Very High High Moderate Low 16 6 44 34

9) Are you satisfied by the percentage of finance provided by STFC? Table:3. 9 Number of customers BTIRT COLLEGE Percentage 36

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Yes No Total 88 12 100 88% 12% 100%

The information presented in table3.9 reveals that: 88% of the respondents are Satisfied with Percentage of finance given by STFC . While 12% of them are not Satisfied . The same information is presented in the form of diagrammatically as follows:Diagram-3.9

No 12%

Yes No

Yes 88%

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10). Are you satisfied with the services offered by STFC? Table:3. 10 Sources Number of customers Completely Satisfied 10 Satisfied 32 Neither satisfied/dis20 satisfied Dis-Satisfied 29 Completely dis9 Satisfied Total 100 Percentage 10% 32% 20% 29% 9% 100%

The information presented in table3.10 reveals that: 10% of the respondents are completely Satisfied with the service offered y STFC, 32% of the respondents are satisfied and from the analysis 20% o the respondents are Neither satisfied/dis-satisfied . Nearly 29% of them are dis-Satisfied and remaining 9% of them are completely dis-Satisfied .

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SUGGESTIONS

The firm should tap the un-tapped locations & market. This will help them in increasing the business. Rural places are advised

The company should bring down their interest rates compared to other competitor rates.

The STFC should increase their seizing period from 3 months to 4 months during slack season if the customers fails to pay their instalments.

The STFC should maintain consistency in customer satisfaction level in future also.

The brand awareness campaigns should be conducted. The firm should work on its Advertisements.

Number of customers complaints should be reduced, because always cost is associated in solving these problems.

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CONCLUSION

Less than anticipated growth in the face of intensifying competition and rising costs, can hardly be expected to get the company foaming.

By seeing the observations most of the customers are having positive perception towards Shriram Transport Finance Company Limited and are satisfied with their services such as Quick finance, Easy documentation process etc. The company is progressing continously in the field of finance as Non-Banking Finance Company to compete with other Financial as well as Nonbanking financial institutions.

STFC is the Non-Banking Financial Company in the Indian scenario and it is the leader with monopoly position in financing for Heavy Commercial Vehicles.

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BIBLIOGRAPHY Websites:1. www.google.com 2. www.wikipedia.com 3. www.scribd.com 4. http://www.stfc.in/ 5. http://www.shriram.com/

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QUESTIONNAIRE Name:1.Do you own a HCV? Yes [ ] No [ ]

Age:-

Contact no.:-

2. Source of finance for your HCV? Co-op banks [ ] STFC [ ] Tata finance [ ] Others [ ]

3. Are you aware of STFC? Yes [ ] No [ ] ( If no go to Question No:- 17 ).

4. How did you come to know about this company? Friends [ ] Agents [ ] Self experience [ ] Others [ ]

5. Do you get the finance quickly from STFC? Yes [ ] No [ ]

6. Are you satisfied with the documentation process at STFC? Strongly dis- satisfied [ ] Strongly Satisfied [ ] Dis-satisfied [ ] Neither satisfied/ Dis-satified [ ] Satisfied [ ]

7. Do you require any changes in the documentation process? Yes [ ] No [ ] If Yes specify _______________________________. 8.What do you feel about the interest rates at STFC? Very High [ ] High [ ] Moderate [ ] Low [ ]

9. Are you satisfied by the percentage of finance provided by STFC? Yes [ ] If No specify _________.

10. Are you satisfied with the services offered by STFC? Strongly dis- satisfied [ ] Strongly Satisfied [ ] Dis-satisfied [ ] Neither satisfied/ Dis-satified [ ] Satisfied [ ]

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