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1.1 THE TOPIC: “OPENING SAVINGS ACCOUNTS BY MEETING CUSTOMERS”
At HDFC Bank, I was assigned with the topic as “Opening Savings Accounts by Meeting Customers” for my project work. I joined the company as a Sales Executive. The selection of the topic was to know how the company generates business through them.
Sales Executives are those sources of a company who have their own relations and personal contacts among common public that they use to generate business through. Company has certain criteria to recruit these Sales Executives. The steps are as follows.
He should be at least 12th passed. He should have good personal contacts. He should have convincing power. He should be above 18th year old.
Once he through all these steps of recruitment, he becomes the Sales Executive of the company and reserve the right to sale the various products to any prospect client also he is paid the commission a certain percentage. There are some reward and tour package also.
1.2 REASON FOR SELECTION OF THIS TOPIC: The financial sector is one of the booming and increasing sectors in India. The Sales Executives are one of the most powerful, efficient and effective channel through which the company sales its various types of financial products. It is really difficult to convince customers and sell a single product but since these executives have their own personal contacts which make the entire task easier to sell a product. Whereas in my entire project work I found my interest in working in a team, dealing with customers and finally convincing them to open an account with the bank.
1.3 IMPORTANCE TO THE COMPANY: The ultimate purpose of giving me this topic was to know about the customer’s perceptions about the different products of the bank, how these products can attract them and how the company can generate maximum profit by convincing them through sales executives.
1.4 LEARNING FROM THE STUDY:
The process of recruitment for Sales Executives of HDFC Bank. Different products and services provided by the bank. Customers’ perception about the different products. The brand image of the bank. What are the problems faced by these sales executives daily basis. How to communicate with the customers. Different techniques of dealing with the customers. How to convince and convert a customer into a real customer.
CHAPTER 2-ORGANIZATION PROFILE
2. COMPANY HISTORY 2.1FORMATION OF THE COMPANY 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 liberalization of the Indian Banking Industry in 1994. The bank was incorporated in August 1994 in the name of 'HDFC Bank Limited', with its registered office in Mumbai, India. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995.
HDFC is India's premier housing finance company and enjoys an impeccable track record in India as well as in international markets. Since its inception in 1977, the Corporation has maintained a consistent and healthy growth in its operations to remain the market leader in mortgages. Its outstanding loan portfolio covers well over a million dwelling units. HDFC has developed significant expertise in retail mortgage loans to different market segments and also has a large corporate client base for its housing related credit facilities. With its experience in the financial markets, a strong market reputation, large shareholder base and unique consumer franchise, HDFC was ideally positioned to promote a bank in the Indian environment.
HDFC Bank's mission is to be a World-Class Indian Bank. The objective is to build sound customer franchises across distinct businesses so as to be the preferred provider of banking services for target retail and wholesale customer segments, and to achieve healthy growth in profitability, consistent with the bank's risk appetite. The bank is committed to maintain the highest level of ethical standards, professional integrity, corporate governance and regulatory compliance. HDFC Bank's business philosophy is based on four core values - Operational Excellence, Customer Focus, Product Leadership and People.
The authorized capital of HDFC Bank is Rs550 crore (Rs5.5 billion). The paid-up capital is Rs424.6 crore (Rs.4.2 billion). The HDFC Group holds 19.4% of the bank's equity and about 17.6% of the equity is held by the ADS Depository (in respect of the bank's American Depository Shares (ADS) Issue). Roughly 28% of the equity is held by Foreign Institutional Investors (FIIs) and the bank has about 570,000 shareholders. The shares are listed on the Stock Exchange, Mumbai and the National Stock Exchange. The bank's American Depository Shares are listed on the New York Stock Exchange (NYSE) under the symbol 'HDB'.
TIMES BANK AMALGAMATION
In a milestone transaction in the Indian banking industry, Times Bank Limited (another new private sector bank promoted by Bennett, Coleman & Co./Times Group) was merged with HDFC Bank Ltd., effective February 26, 2000. As per the scheme of amalgamation approved by the shareholders of both banks and the Reserve Bank of India, shareholders of Times Bank received 1 share of HDFC Bank for every 5.75 shares of Times Bank. The acquisition added significant value to HDFC Bank in terms of increased branch network, expanded geographic reach, enhanced customer base, skilled manpower and the opportunity to cross-sell and leverage alternative delivery channels.
HDFC Bank is headquartered in Mumbai. The Bank at present has an enviable network of over 1229 branches spread over 444 cities across India. All branches are linked on an online real-time basis. Customers in over 120 locations are also serviced through Telephone Banking. The Bank's expansion plans take into account the need to have a presence in all major industrial and commercial centers where its corporate customers are located as well as the need to build a strong retail customer base for both deposits and loan products. Being a clearing/settlement bank to various leading stock exchanges, the Bank has branches in the centers where the NSE/BSE has a strong and active member base. The Bank also has a network of about over 2526 networked ATMs across these cities. Moreover, HDFC Bank's ATM network can be accessed by all domestic and international Visa/MasterCard, Visa Electron/Maestro, Plus/Cirrus and American Express Credit/Charge cardholders.
Mr. Jagdish Capoor took over as the bank's Chairman in July 2001. Prior to this, Mr. Capoor was a Deputy Governor of the Reserve Bank of India. The Managing Director, Mr. Aditya Puri, has been a professional banker for over 25 years and before joining HDFC Bank in 1994 was heading Citibank's operations in Malaysia. The Bank's Board of Directors is composed of eminent individuals with a wealth of experience in public policy, administration, industry and commercial banking. Senior executives representing HDFC are also on the Board. Senior banking professionals with substantial experience in India and abroad head various businesses and functions and report to the Managing Director. Given the professional expertise of the management team and the overall focus on recruiting and retaining the best talent in the industry, the bank believes that its people are a significant competitive strength.
HDFC Bank operates in a highly automated environment in terms of information technology and communication systems. All the bank's branches have online connectivity, which enables the bank to offer speedy funds transfer facilities to its customers. Multi-branch access is also provided to retail customers through the branch network and Automated Teller Machines (ATMs). The Bank has made substantial efforts and investments in acquiring the best technology available internationally, to build the infrastructure for a world class bank. The Bank's business is supported by scalable and robust systems which ensure that our clients always get the finest services we offer. The Bank has prioritized its engagement in technology and the internet as one of its key goals and has already made significant progress in web-enabling its core businesses. In each of its businesses, the Bank has succeeded in leveraging its market position, expertise and technology to create a competitive advantage and build market share.
HDFC Bank's mission is to be a World-Class Indian Bank. The objective is to build sound customer franchises across distinct businesses so as to be the preferred provider of banking
services for target retail and wholesale customer segments, and to achieve healthy growth in profitability, consistent with the bank's risk appetite. The bank is committed to maintain the
highest level of ethical standards, professional integrity, corporate governance and regulatory compliance. HDFC Bank's business philosophy is based on four core values - Operational Excellence, Customer Focus, Product Leadership and People.
RATING I. Credit Rating
The Bank has its deposit programs rated by two rating agencies - Credit Analysis & Research Limited (CARE) and Fitch Ratings India Private Limited. The Bank's Fixed Deposit programme has been rated 'CARE AAA (FD)' [Triple A] by CARE, which represents instruments considered to be "of the best quality, carrying negligible investment risk". CARE has also rated the bank's Certificate of Deposit (CD) programme "PR 1+" which represents "superior capacity for repayment of short term promissory obligations". Fitch Ratings India Pvt. Ltd. (100% subsidiary of Fitch Inc.) has assigned the "tAAA ( ind )" rating to the Bank's deposit programme, with the outlook on the rating as "stable". This rating indicates "highest credit quality" where "protection factors are very high". The Bank also has its long term unsecured, subordinated (Tier II) Bonds rated by CARE and Fitch Ratings India Private Limited and its Tier I perpetual Bonds and Upper Tier II Bonds rated by CARE and CRISIL Ltd. CARE has assigned the rating of "CARE AAA" for the subordinated Tier II Bonds while Fitch Ratings India Pvt. Ltd. has assigned the rating "AAA (ind)" with the outlook on the rating as "stable". CARE has also assigned "CARE AAA [Triple A]" for the Banks Perpetual bond and Upper Tier II bond issues. CRISIL has assigned the rating "AAA / Stable" for the Bank's Perpetual Debt programme and Upper Tier II Bond issue. In each of the cases referred to above, the ratings awarded were the highest assigned by the rating agency for those instruments. II. Corporate Governance Rating The bank was one of the first four companies, which subjected itself to a Corporate Governance and Value Creation (GVC) rating by the rating agency, The Credit Rating Information Services of India Limited (CRISIL). The rating provides an independent assessment of an entity's current performance and an expectation on its "balanced value creation and corporate governance practices" in future. The bank has been assigned a 'CRISIL GVC Level 1' rating which indicates that the bank's capability with respect to wealth creation for all its stakeholders while adopting sound corporate governance practices is the highest.
2.2 PRODUCT SCOPE: HDFC Bank offers a bunch of products and services to meet the every need of the people. The company cares for both, individuals as well as corporate and small and medium enterprises. For individuals, the company has a range accounts, investment, and pension scheme, different types of loans and cards that assist the customers. The customers can choose the suitable one from a range of products which will suit their life-stage and needs. For organizations the company has a host of customized solutions that range from Funded services, Non-funded services, Value addition services, Mutual fund etc. These affordable plans apart from providing long term value to the employees help in enhancing goodwill of the company. The products of the company are categorized into various sections which are as follows: • • • • • • Accounts and deposits. Loans. Investments and Insurance. Forex and payment services. Cards. Customer center.
2.3 PRODUCTS AND SERVICES AT A GLANCE 1. PERSONAL BANKING A. Accounts & Deposits - Regular Savings Account - Savings Plus Account - SavingsMax Account - Senior Citizens Account - No Frills Account - Institutional Savings Account - Payroll Salary Account - Classic Salary Account - Regular Salary Account - Premium Salary Account - Defence Salary Account - Kid's Advantage Account - Pension Saving Bank Account - Family Savings Account - Kisan No Frills Savings Account - Kisan Club Savings Account - Plus Current Account - Trade Current Account - Premium Current Account - Regular Current Account - Apex Current Account - Max Current Account
- Reimbursement Current Account - RFC - Domestic Account - Regular Fixed Deposit - Super Saver Account - Sweep-in Account - HDFC Bank Preferred - Private Banking
B. Loans - Personal Loans - Home Loans - Two Wheeler Loans - New Car Loans - Used Car Loans - Overdraft against Car - Express Loans - Loan against Securities - Loan against Property - Commercial Vehicle Finance - Working Capital Finance - Construction Equipment Finance - Offers & Deals - Customer Center
C. Investments & Insurance - Mutual Funds - Insurance - Bonds - Financial Planning - Knowledge Centre - Equities & Derivatives - Mudra Gold Bar
D. Forex Services - Trade Finance - Travelers’ Cheques - Foreign Currency Cash - Foreign Currency Drafts - Foreign Currency Cheque Deposits - Foreign Currency Remittances - Cash To Master - ForexPlus Card
E. Payment Services - Net Safe - Prepaid Refill - Bill Pay - Direct Pay - Visa Money Transfer
- E-Monies Electronic Funds Transfer - Excise & Service Tax Payment
F. Access Your Bank - One View - Insta Alerts - Mobile Banking - ATM - Phone Banking - Branch Network
G. Cards - Silver Credit Card - Gold Credit Card - Woman's Gold Credit Card - Platinum plus Credit Card - Titanium Credit Card - Value plus Credit Card - Health plus Credit Card - HDFC Bank Idea Silver Card - HDFC Bank Idea Gold Card - Compare Cards - Transfer & Safe - Track your Credit Card
H. Get More from Your Card - Offers & Savings - My Rewards - Insta Wonderz - Add-On Cards - Credit Card Usage Guide - Easy EMI - Net safe - Smart Pay - Secure Plus - My City Benefit Card - Debit Cards - Easy ShopInternational Debit - Easy Shop Gold Debit Card - Easy ShopInternational Business - Easy ShopWoman's Advantage - Prepaid Cards - Forex Plus Card - Kisan Card Debit Card Debit Card Card
I. Customer Centre - Offers & Deals - Winners of Contests & Promotions
2. Wholesale Banking A. Corporate Funded Services Non Funded Services Value Added Services Internet Banking
B. Small & Medium Enterprises Funded Services Non-Funded Services Specialized Services Internet Banking
C. Financial Institutions & Trusts Banks Financial Institutions Mutual Funds Stock Brokers
2.3. MILESTONES IN THE HISTORY
HDFC Bank began its operations in 1995 with a simple mission: to be a "World-class Indian Bank". They realized that only a single-minded focus on product quality and service excellence would help us get there. Today, they are proud to say that they are well on our way towards that goal. It is extremely gratifying that their efforts towards providing customer convenience have been appreciated both nationally and internationally. • 2007 Business Today-Monitor Group survey Financial Express-Ernst & Young Award One of India's "Most Innovative Companies". Best Bank Award in the Private Sector category. ‘Employer Brand of the Year 20072008’-Award- First Runner-up. ‘Best Bank Award’. ‘Corporate Best Bank’-Award.
Global HR Excellence Awards - Asia Pacific HRM Congress: Business Today Dun & Bradstreet – American Express Corporate Best Bank Award 2007 The Bombay Stock Exchange and Nasscom ‘Best Corporate Social Responsibility Foundation's Business for Social Practice’ Award. Responsibility Awards 2007 Outlook Money & NDTV Profit Best Bank Award in the Private sector category. The Asian Banker Excellence in Retail Best Retail Bank in India. Financial Services Awards Asian Banker Managing Director Aditya Puri won the Leadership achievement Award for India. • 2006 Business Today Forbes Magazine Business world The Asset Magazine's Triple A Country Awards Asiamoney Awards Euromoney Awards
Best Bank in India. One of Asia Pacific's Best 50 companies. Best listed Bank of India. Best Domestic Bank. Best Local Cash Management Bank in Large and Medium segments. "Best Bank" in India.
2005 Asiamoney Awards Asiamoney Awards The Asian Banker Excellence Hong Kong-based Finance Asia magazine Economic Times Awards The Asset Triple A Country Awards The Business Today-KPMG Survey The Business Today-KPMG Survey Economic Times - Avaya Global Connect Customer Responsiveness Awards
Best Domestic Commercial Bank Best Cash Management Bank - India . Retail Banking Risk Management Award in India. Best Bank in India "Company of the Year" Award for Corporate Excellence. Best Domestic Bank in India Region 2005 Best Local Cash Management Bank in India US$11-100m - 2005 "Best Bank in India" for the third consecutive year in 2005. "Most Customer Responsive Company Banking and Financial Services - 2005
2004 Asiamoney Awards Asiamoney Awards Asiamoney Awards Asiamoney Awards Asiamoney Awards Business World Forbes Global
Asian Banker Awards The Asset Triple A Country Awards
Best Local Cash Management Bank in India US$11-100m Best Local Cash Management Bank in India >US$501m Best Local Cash Management Bank in India 1989-2004 (poll of polls) Best Overall Domestic Trade Finance Services in India - 2004 Most Improved company for Best Management Practices in India - 2004 One of India's Most Respected Companies - 2004 Best Under a Billion, 100 Best Smaller Size Enterprises in Asia/Pacific and Europe - 2004 Operational Excellence in Retail Financial Services - 2004 Best Domestic Bank in India - 2004
2003 Forbes Global The Asset Triple A Country Awards BusinessWorld - The Business World Most Respected Company Awards The Asset magazine The Asset magazine FE-Ernst & Young Best Banks Survey Outlook Money Business Today NASSCOM & economictimes.com - IT Users Awards
Best Under a Billion, 200 Best Small Companies - 2003 Best Domestic Bank in India -2003 One of India's Most Respected Companies Best Cash Management Bank Best Trade Finance Bank Best New Private Sector Bank - 2003 Best Bank in the Private Sector – 2003 Best Bank in India -2003 Best IT User in Banking -2003
2002 Hong Kong-based Finance Asia magazine Hong Kong-based Finance Asia magazine Euromoney magazine Asiamoney magazine 2001 Hong Kong-based Finance Asia magazine Hong Kong-based Finance Asia magazine Euromoney magazine Forbes Global
Best Local Bank - India "Best Local Bank - India" "Best Bank in India Commercial Bank in India 2002
The Economic Times
Best Domestic Commercial Bank - India "Best Domestic Commercial Bank India "Best Bank in India Named in The 300 Best Small Companies one of the "20 for 2001" best FE-E&Y Best Banks small companies Awards for Corporate Excellence as the Emerging Company of the Year
2000 Hong Kong-based Finance Asia magazine
Best Domestic Commercial Bank - India
Hong Kong-based Finance Asia magazine Euromoney magazine Business India Forbes Global
"Best Domestic Commercial Bank India Best Domestic Bank " India 's Best Bank" Named in The 300 Best Small Companies one of the "20 for 2001" best FE-E&Y Best Banks small companies
2.4. MERGER HDFC Bank and Centurion Bank of Punjab merger at share swap ratio of 1:29 The Boards of HDFC Bank and Centurion Bank of Punjab met on 25 February, 2008 and approved, subject to due diligence, the share swap ratio for the proposed merger of Centurion Bank of Punjab with HDFC Bank. The Scheme of Amalgamation envisages a share exchange ratio of one share of HDFC Bank for twenty nine shares of Centurion Bank of Punjab. The combined entity would have a nationwide network of 1,148 branches (the largest amongst private sector Banks) a strong deposit base of around Rs. 1,200 billion and net advances of around Rs. 850billion. The balance sheet size of the combined entity would be over Rs. 1,500 billion. Commenting on the proposed merger, Mr. Deepak Parekh, Chairman, HDFC said, “We were amongst the first to get a banking license, the first to do a merger in the private sector with Times Bank in 1999, and now if this deal happens, it would be the largest merger in the private sector banking space in India. HDFC Bank was looking for an appropriate merger opportunity that would add scale, geography and experienced staff to its franchise. This opportunity arose and we thought it is an attractive route to supplement HDFC Bank’s organic growth. We believe that Centurion Bank of Punjab would be the right fit in terms of culture, strategic intent and approach to business.” Mr. Aditya Puri, Managing Director, HDFC Bank said, “These are exciting times for the Indian banking industry. The proposed merger will position the combined entity to significantly exploit opportunities in a market globally recognized as one of the fastest growing. I’m particularly bullish about the potential of business synergies and cultural fit between the two organizations. The combined entity will be an even greater force in the market.” Mr. Rana Talwar, Chairman, Centurion Bank of Punjab stated, “Over the last few years, Centurion Bank of Punjab has set benchmarks for growth. The bank today has a large nationwide network, an extremely valuable franchise, 7,500 talented employees, and strong leadership positions in the market place. I believe that the merger with HDFC Bank will create a world class bank in quality and scale and will set the stage to compete with banks both locally as well on a global level.”
Mr. Shailendra Bhandari, Managing Director and CEO, Centurion Bank of Punjab said, “We are extremely pleased to receive the go ahead from our board to pursue this opportunity. A merger between the banks provides significant synergies to the combined entity. The proposed merger would further improve the franchise and customer proposition offered by the individual banks.”
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2008 Particulars Quarter ended 30.06.08 Unaudited 362173 263638 95121 Quarter ended 30.06.07 Unaudited 206916 145362 56047 Year ended 31.03.08 Audited 1011500 696673 287204
Interest Earned (a)+(b)+(c)+(d) a) Interest/discount on advances/bills b) Income on Investments c) Interest on balances with Reserve Bank of India and other interbank funds d) Others
3 4 5
A) TOTAL INCOME (1) + (2) Interest Expended Operating Expenses (i) + (ii) i) Employees cost ii) Other operating expenses
421515 189826 128938 54058 74880
264170 108364 77438 28388 49050
1239815 488712 374562 130135 244427
B) TOTAL EXPENDITURE (4)+(5) (excluding Provisions & Contingencies)
Operating Profit before Provisions and Contingencies (3) -(6)
Provisions (Other than tax) and Contingencies
Profit / (Loss) from ordinary activities before tax (7-8-9)
Net Profit / (Loss) from Ordinary Activities after tax (10-11)
Extraordinary items (net of tax expense) 13 Net Profit / (Loss) (12-13) 14 Paid up equity share capital (Face Value of Rs.10/- each) 46435 32123 159018 -
Reserves excluding revaluation reserves (as per balance sheet of previous accounting year) Analytical Ratios
(i) Percentage of shares held by Government of India (ii) Capital Adequacy Ratio (iii) Earnings per share (Rs.) (a) Basic EPS before & after extraordinary items (net of tax expense) –not annualized (b) Diluted EPS before & after extraordinary items (net of tax expense) -not annualized (iv) NPA Ratios (a) Gross NPA (b) Net NPA (c) % of Gross NPA to Gross Advances (d) % of Net NPA to Net Advances (v) Return on assets (average) - not annualized Public Shareholding
150274 49607 1.5% 0.5% 0.3%
71016 21424 1.3% 0.4% 0.3%
90697 29852 1.3% 0.5% 1.3%
- No. of shares - Percentage of Shareholding 342173776 80.6% 250744008 75.3% 27198992 0 76.7%
2.6 QUALITY POLICY
• • •
SECURITY: The bank provides long term financial security to their policy. The bank does this by offering life insurance and pension products. TRUST: The bank appreciates the trust placed by their policy holders in the bank. Hence, it will aim to manage their investments very carefully and live up to this trust. INNOVATION: Recognizing the different needs of our customers, the bank offers a range of innovative products to meet these needs. INTEGRITY CUSTOMER CENTRIC PEOPLE CARE “ONE FOR ALL AND ALL FOR ONE” TEAM WORK JOY AND SIMPLICITY
• • • • •
CHAPTER 3- RESEARCH OBJECTIVES AND SCOPE OF RESEARCH PROJECT
3.1 PROBLEM DEFINATION: Sales Executives were with good background human being and through rigorous process of recruitment but still not able to perform up to the expectation level of company, HR is not able to sort out the problem why the performance is not coming even after giving the full marketing support. The communication technique and dealing with the customers is also a problem to the sales executives. 3.2 OBJECTIVES OF RESEARCH PROJECT: 3.2.1 PRIMARY OBJECTIVES:
• • • • To open new savings accounts by convincing customers and to promote the benefits of those which are provided by the bank.
To find the different way of convincing customers.
To study brand image of the bank. To increase the business of the bank.
3.2.2 SECONDARY OBJECTIVES:
• • • To determine the need and purpose of a sales executive. To understand the deciding criteria for people to become sales executive. To offer suggestions based upon the findings.
3.3 GEOGRAPHICAL SCOPE: The same problem was with the all other branches of HDFC Bank even out of the Pune city. The management is conducting the same research on a big ground while my contribution is tiny. Though my sample size and geographical area was defined and confine to a particular territory but the application of out put from the research are going to be wide.
3.4 PRODUCT SCOPE: • •
Studying the increasing business scope of the bank. Market segmentation to find the potential customers for the bank. To study how the various products are positioned in the market. Corporate marketing of products. Customers’ perception on the various products of the bank.
CHAPTER4- RESEARCH METHODOLOGY AND LIMITATIONS
All the findings and conclusions obtained are based on the survey done in the working area within the time limit. I tried to select the sample representative of the whole group during my job training. I have collected data from people linked with different profession at Pune. 4.1 RESEARCH PLAN: 4.1.1. Preliminary Investigation: In which data on the situation surrounding the problems shall be gathered to arrive at • • The correct definition of the problem. An understanding of its environment.
4.1.2. Exploratory Study: To determine the approximate area where the problem lies.
4.2 RESEARCH DESIGN: Research was initiated by examining the secondary data to gain insight into the problem. By analyzing the secondary data, the study aim is to explore the short comings of the present system and primary data will help to validate the analysis of secondary data besides on unrevealing the areas which calls for improvement.
4.2.1 DEVELOPING THE RESEARCH PLAN: The data for this research project has been collected through self Administration. Due to time limitation and other constraints direct personal interview method is used. A structured questionnaire was framed as it is less time consuming, generates specific and to the point information, easier to tabulate and interpret. Moreover respondents prefer to give direct answers. In questionnaires open ended and closed ended, both the types of questions has been used.
4.2.2 COLLECTION OF DATA:
1: Secondary Data: It was collected from internal sources. The secondary data was collected on the basis of organizational file, official records, news papers, magazines, management books, preserved information in the company’s database and website of the company. 2: Primary data: All the people from different profession were personally visited and interviewed. They were the main source of Primary data. The method of collection of primary data was direct personal interview through a structured questionnaire.
4.3 SAMPLING PLAN: Since it is not possible to study whole universe, it becomes necessary to take sample from the universe to know about its characteristics.
• • • •
Sampling Units: Different professionals Chartered Accountants, Tax Consultants, Lawyers, Business Man, Professionals and House Wives of Pune. Sample Technique: Random Sampling. Research Instrument: Structured Questionnaire. Contact Method:Personal Interview.
4.4 SAMPLE SIZE: My sample size for this project was 200 respondents. Since it was not possible to cover the whole universe in the available time period, it was necessary for me to take a sample size of 200 respondents.
4.5 DATA COLLECTION INSTRUMENT DEVELOPMENT: The mode of collection of data will be based on Survey Method and Field Activity. Primary data collection will base on personal interview. I have prepared the questionnaire according to the necessity of the data to be collected.
4.6 RESEARCH LIMITATIONS: • • •
It was not possible to understand thoroughly about the different marketing aspects of the Financial Consultant within 60 days. As stipend, money was not given it was difficult to continue the project work. All the work was limited in some limited areas of Pune so the findings should not be generalized. The area of research was Pune and it was too vast an area to cover within 60 days.
CHAPTER5-DATA ANALYSIS, INTERPRETATION AND PRESENTATION
TABLE Serial No. Age Category Number of Respondents 26 Percentage
1. 2. 3. 4.
18-23 Years 24-29 Years 30-35 Years 35 Years and above Total
40 70 60 30 200
20% 35% 30% 15% 100%
Base 200 respondents GRAPH
Interpretation From the table and graph above it can be seen that • • • • 20% respondent’s age are 18 to 23 years. 35% respondent’s age are 27 to 29 years. 30% respondent’s age are 30 to 35 years. 15% respondent’s age are 35 to above years.
Q2. Marital Status? TABLE Sr. No. 1 2 Category Married Unmarried Total No. of Respondents 140 60 200 Percentage 70% 30% 100%
Interpretation From the table and graph above it can be seen that
• • 70% respondents are married. 30% respondents are unmarried.
Q3. Educational Qualification?
TABLE Sr. No. 1 2 3 Category Under graduate Graduate Post graduate Total No. of Respondents 50 80 70 200 Percentage 25% 40% 35% 100% Base 200 respondents GRAPH
Interpretation From the table and graph above it can be seen that • •
25% respondents are Under graduate. 40% respondents are Graduate. 35% respondents are Post graduate.
Q4. Number Of year’s Are You in Pune? TABLE Sr. No. 1 2 Category Less than five years More than five years Total No. of Respondents 78 122 200 Percentage 39% 61% 100% Base 200 respondents GRAPH
Interpretation From the table and graph above it can be seen that
39% respondents are in Pune for less than five years. 61% respondents are in Pune for more than five years.
Q5. Your Occupation? TABLE Sr. No. 1 2 3 Category Business Profession Service Total No. of Respondents 40 108 52 200 Percentage 20% 54% 26% 100% Base 200 respondents GRAPH
Interpretation From the table and graph above it can be seen that • • • 20% respondents Occupation is Business. 26% respondents Occupation is Profession. 54% respondents Occupation is Service.
Q6. Your annual household income? TABLE Sr. No. 1 2 3 4 Category Less than 2 lacs Between 2 to 5 lacs Between 5to 8 lacs More than 8 lacs No. of Respondents 98 62 30 10
Percentage 49% 31% 15% 5%
100% Base 200 respondents
Interpretation From the table and graph above it can be seen that • • • • 49% respondent’s annual household income is less than 2 lacs. 31% respondent’s annual household income is between 2 to 5 lacs. 15% respondent’s annual household income is between 5 to 8 lacs. 5% respondent’s annual household income is more than 8 lacs.
Q7. Are you a member of a club/gymkhana? TABLE Sr. No. 1 2 Category Yes No Total No. of Respondents 84 116 200 Percentage 42% 58% 100% Base 200 respondents GRAPH
Interpretation From the table and graph above it can be seen that • • 42% respondents are member of a club/gymkhana. 58% respondents are not member of a club/gymkhana.
Q8. What is your perception about different products/services provided by HDFC bank? TABLE Sr. No. 1 2 4 Category Lucrative Not lucrative No idea Total No. of Respondents 50 120 30 200 Percentage 25% 60% 15% 100%
Base 200 respondents GRAPH
Interpretation From the table and graph above it can be seen that ➢ 25% respondent’s perception about different products is lucrative. ➢ 60% respondent’s perception about different products is not lucrative. ➢ 15% respondent’s have no idea.
Q9. Do you want to open an account with HDFC bank? TABLE Sr. No. 1 2 3 Category Yes No Will tell later Total No. of Respondents 10 160 30 200 Percentage 5% 80% 15% 100% Base 200 respondents GRAPH
Interpretation From the table and graph above it can be seen that
80% respondents are not interested to open an account with the bank. 5% respondents are interested to open an account with the bank. 15% of the respondents say that they will tell later.
Q10. Do you have all the documents which are required to open an account? TABLE Sr. No. 1 2 Category Yes No Total No. of Respondents 120 80 200 Percentage 60% 40% 100% Base 200 respondents GRAPH
Interpretation From the table and graph above it can be seen that
60% respondents have all the documents which are required to open an account with the bank. 25% respondents do not have all the documents which are required to open an account with the bank
Q11. Are you aware that the bank provides you a free Dmat account if you open a new savings account with HDFC bank? TABLE Sr. No. 1 2 Category Yes No Total No. of Respondents 40 160 70 Percentage 20% 80% 100% Base 200 respondents GRAPH
From the table and graph above it can be seen that
20% respondents are aware that the bank provides a free Dmat account with new savings account. 40% respondents are not aware of it.
Q12.Are you aware of different terms and conditions which are very much essential to maintain an account at HDFC Bank? TABLE Sr. No. 1 2 Category Yes No Total No. of Respondents 25 175 200 Percentage 12% 88% 100% Base 200 respondents GRAPH
Interpretation From the table and graph above it can be seen that
12% respondents are familiar with different terms and conditions which are very much essential to maintain account with the bank. 88% respondents have no idea about it.
Q13. Do you know about HDFC Bank’s recruitment policies related to sales executives? TABLE Sr. No. 1 2 Category Yes No Total No. of Respondents 82 118 200
Percentage 41% 59% 100%
Base 200 respondents GRAPH
Interpretation From the table and graph above it can be seen that
41% respondents are known about HDFC Bank’s recruitment policies related to sales executives. 59% respondents are not known about HDFC Bank’s recruitment policies related to sales executives.
CHAPTER6- CONCLUSIONS AND SUGGESTIONS
6.1 CONCLUSIONS: HDFC Bank, the banking arm of HDFC is expected to go on stream. The bank already has good number of employees on board and is recruiting Sales Executives heavily to take the headcount to many more. It is on the brim of increasing its customers through its attractive schemes and offer.
The project opportunities provided was market segmentation and identifying prospective customers in potential geographical location and convincing them to open an account so that new Business Opportunities of the bank can be explored. Through this project, it could be concluded that people are not much aware about the various products of the bank and many of them not interested to open an account at all.
services was considered as unsought good which require hard core selling, but in changing trend in income and people becoming financially literate, the demand for banking sector is increasing day by day.
According to my findings Company’s promotional activities for recruiting sales executives are also very less.
So, at last the conclusion is that there is tough competition ahead for the company from its major competitors in the banking sector. Last but not the least I would like to thank HDFC Bank for giving me an opportunity to work in the field of Marketing. I hope the company finds my analysis relevant.
6.2 SUGGESTIONS: Finally some recommendations for the company are as fallows:-
To make people aware about the benefit of becoming HDFC Bank’s Sales Executive, following activities of advertisement should be done through
1. Print Media. 2. Hoarding & Banners. 3. Stalls in Trade Fares 4. Distribution of leaflets containing details information. . • The bank should provide life time valid ATM card to all its customers.
Minimum balance for savings account should be reduced from Rs 5000 to Rs 1000, so that people who are not financially strong enough can maintain their account properly
The company should provide a pass book to all its customers
Make people understand about the various benefits of its products.
Company should organize the program in the society, so that people will be aware about the company and different products of the bank
Company should open more branches in different cities.
LIMITATIONS Every work has its own limitation. Limitations are extent to which the process should not exceed. Limitations of this project are:-
• • • •
The project was constrained by time limit of two months. Mindset of people may very depending upon their age, gender, income etc. Getting appointment from the concern person was very difficult. People mind set about the survey was an obstacle in acquiring complete Respondents were very busy in their schedule. So it was very time consuming for
information & positive interaction. them to answer all the questions properly.
QUESTIONNAIRE Dear Sir/Madam, Name: ……………………………………………………………………….. Address: …………………………………………………………………….. Contact No :®………………( O)……………… (M)……………………… City: ………...............Pin: ………………….State: ………………………. I am a student of Suryadatta Institute of Management and Mass Communication, Pune and presently doing a project on “OPENING SAVINGS ACCOUNT BY MEETING CUSTOMERS”. I request you to kindly fill the questionnaire below and I assure you that the data generated shall be kept confidential. .
1. Your Age: ____________________ 2. Education Qualification. • • Undergraduate Graduate □ □
3. Marital Status. • • Married Single □ □
No. of Children: __________
4. Number Of year’s Are You in Pune. • • • • • Less than five year’s More than five year’s Business Profession Service □ □ □ □ □
(Please mention below the type of business/profession you are in incase of service please mention your organization name and designation)
6.Your annual household income. • • •
<than 2 lack Between 2 to 5 lack Between 5 to 8 lack >than 8 lack
□ □ □ □
7. Are you a member of a club/gymkhana? • • Yes No □ □
If yes, Name of the club /gymkhana_______________________________________
8. What is your perception about different products and services offered by HDFC Bank?
• • •
Lucrative Not lucrative No idea
□ □ □
9. Do you want to open an savings account with HDFC Bank? • •
Yes No Will tell later
□ □ □
10. Do you have all the documents which are required to open an account?
11. Are you aware of that HDFC Bank provide you a free Dmat account if you open a new savings account with the bank? • • Yes No □ □
12. Are you aware of different terms and conditions which are very much essential to maintain an account at HDFC Bank? • • Yes No □ □
13. Do you know about HDFC Bank’s recruitment policies related to sales executives? • • Yes No □ □
Date: Place: Signature
• • •
Marketing Management (10 Edition) Marketing Management (3rd Edition) Research Methodology (2nd Edition) Research Methodology
AUTHORS Philip Kotler V.S. Ramaswamy C.R.Kothary S.P. Kasande
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