CUSTOMER SATISFACTION

AT

PUNJAB NATIONAL BANK

SUPERVISOR
Dr. Suhasini Parashar ( !a"# D!$%%. O& Busin!ss A")inis%ra%i*n(

SUBMITTED BY
Anuja BBA (B'I( +%h S!)!s%!r Enr*,,)!n% N*..+/01/2.3

SESSION: 2007 - 2010 MA ARAJA SURAJMAL INSTITUTE (AFFILIATED BY 4URU 4OBIND SIN4 INDRAPRAST A UNIVERSITY(

C50 JANAK PURI# NE6 DEL I5//..+2.

CERTIFICATE

This is to certify that project titled Customer satisfaction at PNB is prepared by Anuja is being Submitted for the partial fulfillment of the Masters degree in Business Administration Programme at Maharaja Surajmal Institute, Guru Gobind Singh Indraprastha guidance and support# ni!ersity, "elhi# $e has successfully completed the project under my constant

Signature of the Project Guide (Dr# Suhasini Parashar( Anuja BBA +%h s!).

PREFACE
Summer training is a !ery important part of an MBA curriculum# It pro!ides an optimistic iconography for %&uture e'istence through (hich students are able to see the real industrial en!ironment (hich gi!es an opportunity to relate theory (ith practice# I undertoo) t(o months training programme at Punjab *ational Ban) +*angloi, and (or)ed on the project -.ustomer Satisfaction at P*B -# This report is the )no(ledge ac/uired by me during this period of training#

FEATURE OF THIS REPORT0 Se!eral features of this report are designed to ma)e it particularly easy for professionals and students to understand the customers perception about the financial products and ser!ices offered by the ban)#

STRUCTURE: An empirical field approach complementing the te't is follo(ed

EMPIRICAL APPROACH: This report presents highly technical subject matter (ithout comple' formulas by using a balance of te't and figures# The

appro'imately 12 figures accompanying the te't pro!ide a !isual and intuiti!e opportunity for understanding the material#

HIGHLIGHTED POINTS:

Important points are highlighted at appropriate places to stress their importance#

APPENDIXES:

The

appendi'es

are

intended

to

pro!ide

/uic)

reference material or a re!ie( of materials needed to understand the concepts discussed in this report#

ACKNO6LED4EMENT
A Project usually falls short of its e'pectations unless guided by the right person at the right time# This Project (ould not ha!e completed (ithout the direct or indirect help and guidance of such luminaries in Punjab *ational ban)# They pro!ided us (ith the necessary resources and an en!ironment conduci!e for healthy learning and training# They pro!ided us (ith the re/uired amount of freedom to e'ercise our s)ill under their able guidance# At the outset, I (ould li)e to ta)e this opportunity to

gratefully ac)no(ledge the !ery )ind and patient guidance and encouragement I ha!e recei!ed from our Project Guide Mr. Pramod Kumar Bha !a +Cu" om#r Car# O$$!%#r, and Mr. HARISH SAIGAL &BRANCH MANAGER' throughout their critical e!aluation and suggestion at e!ery stage of the Project, this report could ne!er ha!e reached its present form#

I (ould be failing in my duties if I forget to mention the name of Dr. Suha"!(! Para"har +Project Guide, msi, for her unconditional support during the course of the project# I (ould li)e to e'tend my than)s to my college %MA$A3A4A S 3A4MA5 I*STIT T6 for the facilities a!ailed to me in terms of library (or)# 5ast but not least I (ould li)e to than) all the respondents for gi!ing their precious time and rele!ant information and e'perience, I re/uired, (ithout (hich the Project (ould ha!e been incomplete#

Anuja

C APTER /

1.1 INTROD CTION TO BAN!IN" IN INDIA

The ban)ing section (ill na!igate through all the aspects of the Ban)ing System in India# It (ill discuss upon the matters (ith the birth of the ban)ing concept in the country to ne( players adding their names in the industry in coming fe( years# The ban)er of all ban)s, 3eser!e Ban) of India +3BI,, the Indian Ban)s Association +IBA, and top 12 ban)s li)e I"BI, $SB., I.I.I, AB* AM37, etc# has been (ell defined under three separate heads (ith one page dedicated to each ban)# $o(e!er, in the introduction part of the entire ban)ing cosmos, the past has been (ell e'plained under three different heads namely0 $istory of Ban)ing in India *ationali8ation of Ban)s in India Scheduled .ommercial Ban)s in India The first deals (ith the history part since the da(n of ban)ing system in India# Go!ernment too) major step in the 9:;: to put the ban)ing sector into systems and it nationali8ed 9< pri!ate ban)s in the mentioned year# This has been elaborated in *ationali8ation Ban)s in India# The last but not the least e'plains about the scheduled and unscheduled ban)s in India# Section <1 +;, +a, of 3BI Act 9:=< lays do(n the condition of scheduled commercial ban)s# The description along (ith a list of scheduled commercial ban)s are gi!en on this page

1.1.1 #ISTOR$ O% BAN!IN" IN INDIA >ithout a sound and effecti!e ban)ing system in India it cannot ha!e a healthy economy# The ban)ing system of India should not only be hassle free but it should be able to meet ne( challenges posed by the technology and any other e'ternal and internal factors# &or the past three decades India?s ban)ing system has se!eral outstanding achie!ements to its credit# The most stri)ing is its e'tensi!e reach# It is no longer confined to only metropolitans or cosmopolitans in India# In fact, Indian ban)ing system has reached e!en to the remote corners of the country# This is one of the main reasons of India?s gro(th process# The go!ernment?s regular policy for Indian ban) since 9:;: has paid rich di!idends

>ith the nationali8ation of 9< major pri!ate ban)s of India# *ot long ago, an account holder had to (ait for hours at the ban) counters for getting a draft or for (ithdra(ing his o(n money# Today, he has a choice# Gone are days (hen the most efficient ban) transferred money from one branch to other in t(o days# *o( it is simple as instant messaging or dials a pi88a# Money has become the order of the day# The first ban) in India, though conser!ati!e, (as established in 9@A;# &rom 9@A; till today, the journey of Indian Ban)ing System can be segregated into three distinct phases# They are as mentioned belo(0

6arly phase from 9@A; to 9:;: of Indian Ban)s *ationali8ation of Indian Ban)s and up to 9::9 prior to Indian ban)ing sector 3eforms# *e( phase of Indian Ban)ing System (ith the ad!ent of Indian
&inancial

B Ban)ing Sector 3eforms after 9::9# To ma)e this (riteCup more e'planatory, I prefi' the scenario as Phase I, Phase II and Phase III# Pha"# I The General Ban) of India (as set up in the year 9@A;# *e't came Ban) of $industan and Bengal Ban)# The 6ast India .ompany established Ban) of Bengal +9A2:,, Ban) of Bombay +9A<2, and Ban) of Madras +9A<=, as independent units and called it Presidency Ban)s# These three ban)s (ere amalgamated in 9:12 and Imperial Ban) of India (as established (hich started as pri!ate shareholders ban)s, mostly 6uropeans shareholders# In 9A;D Allahabad Ban) (as established and first time e'clusi!ely by Indians, Punjab *ational Ban) 5td# (as set up in 9A:< (ith head/uarters at 5ahore# Bet(een 9:2; and 9:9=, Ban) of India, .entral Ban) of India, Ban) of Baroda, .anara Ban), Indian Ban), and Ban) of Mysore (ere set up# 3eser!e Ban) of India came in 9:=D# "uring the first phase the gro(th (as !ery slo( and ban)s also e'perienced periodic failures bet(een 9:9= and 9:<A# There (ere appro'imately 9922 ban)s, mostly small# To streamline the functioning and acti!ities of commercial ban)s, the Go!ernment of India came up

(ith The Ban)ing .ompanies Act, 9:<: (hich (as later changed to Ban)ing 3egulation Act 9:<: as per amending Act of 9:;D +Act *o# 1= of 9:;D,# 3eser!e Ban) of India (as !ested (ith e'tensi!e po(ers for the super!ision of ban)ing in India as the .entral Ban)ing Authority# "uring those days public has lesser confidence in the ban)s# As an aftermath deposit mobilisation (as slo(# Abreast of it the sa!ings ban) facility pro!ided by the Postal department (as comparati!ely safer# Moreo!er, funds (ere largely gi!en to traders# Pha"# II Go!ernment too) major steps in this Indian Ban)ing Sector 3eform after independence# In 9:DD, it nationali8ed Imperial Ban) of India (ith e'tensi!e ban)ing facilities on a large scale especially in rural and semiCurban areas# It formed State Ban) of India to act as the principal agent of 3BI and to handle ban)ing transactions of the nion and State Go!ernments all o!er the country# Se!en ban)s forming subsidiary of State Ban) of India (as nationali8ed in 9:;2 on 9:th 4uly, 9:;:, major process of nationali8ation (as carried out# It (as the effort of the then Prime Minister of India, Mrs# Indira Gandhi# 9< major commercial ban)s in the country (ere nationali8ed# Second phase of nationali8ation Indian Ban)ing Sector 3eform (as carried out in 9:A2 (ith se!en more ban)s# This step brought A2E of the ban)ing segment in India under Go!ernment o(nership# The follo(ing are the steps ta)en by the Go!ernment of India to 3egulate Ban)ing Institutions in the .ountry0

9:<:0 9:DD0 9:D:0 9:;90 9:;:0 9:@90 9:@D0 9:A20 crore#

6nactment of Ban)ing 3egulation Act# *ationali8ation of State Ban) of India# *ationali8ation of SBI subsidiaries# Insurance co!er e'tended to deposits# *ationali8ation of 9< major ban)s# .reation of credit guarantee corporation# .reation of regional rural ban)s# *ationali8ation of se!en ban)s (ith deposits o!er 122

After the nationali8ation of ban)s, the branches of the public sector ban) India rose to appro'imately A22E in deposits and ad!ances too)

a huge jump by 99,222E# Ban)ing in the sunshine of Go!ernment o(nership ga!e the public implicit faith and immense confidence about the sustainability of these institutions# Pha"# III this phase has introduced many more products and facilities in the ban)ing sector in its reforms measure# In 9::9, under the chairmanship of M *arasimham, a committee (as set up by his name (hich (or)ed for the liberalisation of ban)ing practices# The country is flooded (ith foreign ban)s and their ATM stations# 6fforts are being put to gi!e a satisfactory ser!ice to customers# Phone ban)ing and net ban)ing is introduced# The entire system became more con!enient and s(ift# Time is gi!en more importance than money# The financial system of India has sho(n a great deal of resilience# It is sheltered from any crisis triggered by any e'ternal macroeconomics shoc) as other 6ast Asian .ountries suffered# This is all due to a fle'ible e'change rate regime, the foreign reser!es are high, the capital account is not yet fully con!ertible, and ban)s and their customers ha!e limited foreign e'change e'posure#

1.1.& SC#'D ('D COMM'RCIA( BAN!S IN INDIA The commercial ban)ing structure in India consists of0 Scheduled .ommercial Ban)s in India nscheduled Ban)s in India Scheduled Ban)s in India constitute those ban)s (hich ha!e been included in the Second Schedule of 3eser!e Ban) of India +3BI, Act, 9:=<# 3BI in turn includes only those ban)s in this schedule (hich satisfy the criteria laid do(n !ide section <1 +;, +a, of the Act# As on =2th 4une, 9:::, there (ere =22 scheduled ban)s in India ha!ing a total net(or) of ;<,:9A branches# The scheduled commercial ban)s in India comprise of State ban) of India and its associates +A,, nationali8ed ban)s +9:,, foreign ban)s +<D,, pri!ate sector ban)s +=1,, coCoperati!e ban)s and regional rural ban)s#

FScheduled ban)s in IndiaF means the State Ban) of India constituted under the State Ban) of India Act, 9:DD +1= of 9:DD,, a subsidiary ban) as defined in the State Ban) of India +Subsidiary Ban)s, Act, 9:D: +=A of 9:D:,, a corresponding ne( ban) constituted under section = of the Ban)ing .ompanies +Ac/uisition and Transfer of nderta)ings, Act, 9:@2 +D of 9:@2,, or under section = of the Ban)ing .ompanies +Ac/uisition and Transfer of nderta)ings, Act, 9:A2 +<2 of 9:A2,, or any other ban) being a ban) included in the Second Schedule to the 3eser!e Ban) of India Act, 9:=< +1 of 9:=<,, but does not include a coCoperati!e ban)F# F*onCscheduled ban) in IndiaF means a ban)ing company as defined in clause +c, of section D of the Ban)ing 3egulation Act, 9:<: +92 of 9:<:,, (hich is not a scheduled ban)F# Th# $o))o*!(+ ar# h# S%h#du)#d Ba(," !( I(d!a &Pu-)!% S#% or': State Ban) of India State Ban) of Bi)aner and 4aipur State Ban) of $yderabad State Ban) of Indore State Ban) of Mysore State Ban) of Saurashtra State Ban) of Tra!ancore Andhra Ban) Allahabad Ban) Ban) of Baroda Ban) of India Ban) of Maharashtra .anara Ban) .entral Ban) of India .orporation Ban) "ena Ban) Indian 7!erseas Ban) Indian Ban) 7riental Ban) of .ommerce Punjab *ational Ban) Punjab and Sind Ban) Syndicate Ban) nion Ban) of India nited Ban) of India .7 Ban) Gijaya Ban)

Th# $o))o*!(+ ar# h# S%h#du)#d Ba(," !( I(d!a &Pr!.a # S#% or': I*G Gysya Ban) 5td A'is Ban) 5td Indusind Ban) 5td I.I.I Ban) 5td South Indian Ban) $"&. Ban) 5td .enturion Ban) 5td Ban) of Punjab 5td I"BI Ban) 5td Th# $o))o*!(+ ar# h# S%h#du)#d For#!+( Ba(," !( I(d!a: American 6'press Ban) 5td# A*H Gridlays Ban) Plc# Ban) of America *T B SA Ban) of To)yo 5td# Ban/uc *ationale de Paris Barclays Ban) Plc .iti Ban) *#.# "eutsche Ban) A#G# $ong)ong and Shanghai Ban)ing .orporation Standard .hartered Ban)# The .hase Manhattan Ban) 5td# "resdner Ban) AG#

1.1.) BAN!IN" S'R*IC'S IN INDIA >ith years, ban)s are also adding ser!ices to their customers# The Indian ban)ing industry is passing through a phase of customers mar)et# The customers ha!e more choices in choosing their ban)s# A

competition has been established (ithin the ban)s operating in India# >ith stiff competition and ad!ancement of technology, the ser!ices pro!ided by ban)s ha!e become more easy and con!enient# The past days are (itness to an hour (ait before (ithdra(ing cash from accounts or a che/ue from north of the country being cleared in one month in the south# This section of ban)ing deals (ith the latest disco!ery in the ban)ing instruments along (ith the polished !ersion of their old systems# BANK ACCOUNT The most common and first ser!ice of the ban)ing sector# There are different types of ban) account in Indian ban)ing sector# The ban) accounts are as follo(s0

Ban) Sa!ings Account C Ban) Sa!ings Account can be opened for eligible person I persons and certain organi8ations I agencies +as ad!ised by 3eser!e Ban) of India +3BI, from time to time, Ban) .urrent Account C Ban) .urrent Account can be opened by indi!iduals I partnership firms I Pri!ate and Public 5imited .ompanies I $ &s I Specified Associates I Societies I Trusts, etc# Ban) Term "eposits Account C Ban) Term "eposits Account can be opened by indi!iduals I partnership firms I Pri!ate and Public 5imited .ompanies I $ &sI Specified Associates I Societies I Trusts, etc# Ban) Account 7nline C >ith the ad!ancement of technology, the major ban)s in the public and pri!ate sector has faciliated their customer to open ban) account online# Ban) account online is registered through a P. (ith an internet connection# The ad!ent of ban) account online has sa!ed both the cost of operation for ban)s as (ell as the time ta)en in opening an account#

PLASTIC MONE/ .redit cards in India are gaining ground# A number of ban)s in India are encouraging people to use credit card# The concept of credit card (as used in 9:D2 (ith the launch of charge cards in SA by "iners .lub and American 6'press# .redit card ho(e!er became more popular

(ith use of magnetic strip in 9:@2# .redit card in India became popular (ith the introduction of foreign ban)s in the country# .redit cards are financial instruments, (hich can be used more than once to borro( money or buy products and ser!ices on credit# Basically ban)s, retail stores and other businesses issue these# LOANS Ban)s in India (ith the (ay of de!elopment ha!e become easy to apply in loan mar)et# The follo(ing loans are gi!en by almost all the ban)s in the country0 Personal 5oan .ar 5oan or Auto 5oan 5oan against Shares $ome 5oan 6ducation 5oan or Student 5oan In Personal 5oan, one can get a sanctioned loan amount bet(een 3s 1D,222 to 92, 22,222 depending upon the profile of person applying for the loan# SBI, I.I.I, $"&., $SB. are some of the leading ban)s (hich deals in Personal 5oan# Almost all the ban)s ha!e jumped into the mar)et of car loan (hich is also sometimes termed as auto loan# It is one of the fast mo!ing financial products of ban)s# .ar loan I auto loan are sanctioned to the e'tent of ADE upon the e'Csho(room price of the car (ith some simple paper (or)s and a small amount of processing fee# 5oan against shares is !ery easy to get because li/uid guarantee is in!ol!ed in it# $ome loan is the latest cra8e in the ban)ing sector (ith the de!elopment of the infrastructure# *o( people are mo!ing to to(nship outside the city# More number of to(nships is coming up to meet the demand of ?house for all?# The 3BI has also liberalised the interest rates of home loan in order to match the repayment capability of e!en middle class people# Almost all ban)s are dealing in home loan# Again SBI, I.I.I, $"&., $SB. are leading# The educational loan, rather to be termed as student loan, is a good

ban)ing product for the mass# Students (ith certain academic brilliance, studying at recognised collegesIuni!ersities in India and abroad are generally gi!en education loan I student loan so as to meet the e'penses on tuition feeI maintenance costIboo)s and other e/uipment# MONE/ TRANSFER Beside lending and depositing money, ban)s also carry money from one corner of the globe to another# This act of ban)s is )no(n as transfer of money# This acti!ity is termed as remittance business# Ban)s generally issue "emand "rafts, Ban)er?s .he/ues, Money 7rders or other such instruments for transferring the money# This is a type of Telegraphic Transfer or Tele .ash 7rders# It has been only a couple of years that ban)s ha!e jumped into the money transfer businesses in India# The international money transfer mar)et gre( :#=E from 122= to 122< i#e# from SJ19= bn# to SJ1== bn# in 122<# 6conomists say that the mar)et of money transfer (ill further gro( at a cumulati!e 91#9E a!erage gro(th rate through 122:#

1.& % T R' O% BAN!IN" IN INDIA

A healthy ban)ing system is essential for any economy stri!ing to achie!e good gro(th and yet remain stable in an increasingly global business en!ironment# The Indian ban)ing system has (itnessed a series of reforms in the past, li)e deregulation of interest rates, dilution of go!ernment sta)e in PSBs, and increased participation of

pri!ate sector ban)s# It has also undergone rapid changes, reflecting a number of underlying de!elopments# This trend has created ne( competiti!e threats as (ell as ne( opportunities# This paper aims to foresee major future ban)ing trends, based on these past and current mo!ements in the mar)et# Gi!en the competiti!e mar)et, ban)ing (ill +and to a great e'tent already has, become a process of choice and con!enience# The future of ban)ing (ould be in terms of integration# This is already becoming a reality (ith ne(Cage ban)s such as K6S Ban), and others too adopting a singleCPI*# Geography (ill no longer be an inhibitor# Technology (ill pro!e to be the differentiator in the shortCterm but the dynamic en!ironment (ill soon lead to its saturation and (hat (ill ultimately be the )ey to success (ill be a better relationship management# O0ER0IE1

1.2.1

If one (ere to say that the future of ban)ing in India is bright, it (ould be a gross understatement# >ith the gro(ing competition and con!ergence of ser!ices, the customers +you and I, stand only to benefit more to say the least# At the same time, emergence of a multitude of comple' financial instruments is foreseen in the near future +the trend is !isible in the current scenario too, (hich is bound to confuse the customer more than e!er unless she spends hours +maybe days, to understand the same# $ence, I see a gro(ing trend to(ards the importance of relationship managers# The success +or failure, of any ban) (ould depend not only on tapping the untapped customer base +from other departments of the same ban), customers of related similar institutions or those of the competitors, but also on the effecti!eness in retaining the e'isting base# India has (itness to a sea change in the (ay ban)ing is done in the past more than t(o decades# Since 9::9, the 3eser!e Ban) of India +3BI, too) steps to reform the Indian ban)ing system at a measured pace so that gro(th could be achie!ed (ithout e'posure to any macroC en!ironment and systemic ris)s# Some of these initiati!es (ere deregulation of interest rates, dilution of the go!ernment sta)e in public sector ban)s +PSBs,, guidelines being issued for ris) management, asset classification, and pro!isioning# Technology has made tremendous impact in ban)ing# %Anywhere banking and %Anytime banking ha!e become a reality# The financial sector no( operates in a more competiti!e en!ironment than before and intermediates relati!ely large !olume of international financial flo(s# In

the (a)e of greater financial deregulation and global financial integration, the biggest challenge before the regulators is of a!oiding instability in the financial system# 1.2.2 RISK MANAGEMENT

The future of ban)ing (ill undoubtedly rest on ris) management dynamics# 7nly those ban)s that ha!e efficient ris) management system (ill sur!i!e in the mar)et in the long run# The effecti!e management of credit ris) is a critical component of comprehensi!e ris) management essential for longCterm success of a ban)ing institution# Although capital ser!es the purpose of meeting une'pected losses, capital is not a substitute for inade/uate decontrol or ris) management systems# .oming years (ill (itness ban)s stri!ing to create sound internal control or ris) management processes# >ith the focus on regulation and ris) management in the Basel II frame(or) gaining prominence, the postCBasel II era (ill belong to the ban)s that manage their ris)s effecti!ely# The ban)s (ith proper ris) management systems (ould not only gain competiti!e ad!antage by (ay of lo(er regulatory capital charge, but (ould also add !alue to the shareholders and other sta)eholders by properly pricing their ser!ices, ade/uate pro!isioning and maintaining a robust financial structure# %The future belongs to bigger banks alone, as well as to those which have minimized their risks considerably.

C APTER 7

&.1 INTROD CTION

Pu(2a- Na !o(a) Ba(, o$ I(d!a, the first Indian ban) started only (ith Indian capital, (as nationali8ed in 4uly 9:;: and currently the ban) has become a frontCline ban)ing institution in India (ith <D1D 7ffices including <=1 6'tension .ounters# The corporate office of the ban) is at *e( "elhi# Punjab *ational Ban) of India has set up

representati!e offices at Almaty +La8a)histan,, Shanghai +.hina, and in 5ondon and a full fledged Branch in Labul +Afghanistan,# Punjab *ational Ban) (ith <<:@ offices and the largest nationali8ed ban) is ser!ing its =#D crore customers (ith the follo(ing (ide !ariety of ban)ing ser!ices0 .orporate ban)ing Personal ban)ing Industrial finance Agricultural finance &inancing of trade International ban)ing Punjab *ational Ban) has been ran)ed =Ath amongst top D22 companies by The 6conomic Times# P*B has earned :th position among top D2 trusted brands in India# Punjab *ational Ban) India maintains relationship (ith more than 122 leading international ban)s (orld (ide# P*B India has 3upee "ra(ing Arrangements (ith 9D e'change companies in A6 and 9 in Singapore#

3.4.4 HISTOR/ OF THE BANK Pu(2a- Na !o(a) Ba(, +P*B, (as registered on May 9:, 9A:< under the Indian .ompanies Act (ith its office in Anar)ali Ba8aar 5ahore# The Ban) is the second largest go!ernmentCo(ned commercial ban) in India (ith about <,D22 branches across @;< cities# It ser!es o!er =@ million customers# The ban) has been ran)ed 1<Ath biggest ban) in the (orld by Ban)ers Almanac, 5ondon# The ban)?s total assets for financial year 122@ (ere about SJ;2 billion# P*B has a ban)ing subsidiary in the L, as (ell as branches in $ong Long and Labul, and representati!e offices in Almaty, "ubai, 7slo, and Shanghai# 9A:D0 P*B commenced its operations in 5ahore# P*B has the distinction of being the first Indian ban) to ha!e been started solely (ith Indian capital that has sur!i!ed to the present# +The first entirely Indian ban), the 7uch .ommercial Ban), (as established in 9AA9 in &ai8abad, but failed in 9:DA#, P*B?s founders included se!eral leaders of the S(adeshi mo!ement such as "yal Singh Majithia and 5ala $arLishen 5al,M9N 5ala 5alchand, Shri Lali Prosanna 3oy, Shri 6#.# 4essa(ala, Shri Prabhu "ayal, Ba)shi 4aishi 3am, and 5ala "holan "ass# 5ala 5ajpat 3ai (as acti!ely associated (ith the management of the Ban) in its early years#

9:2<0 P*B established branches in Larachi and Pesha(ar# 9:<20 P*B absorbed Bhag(an "ass Ban), a scheduled ban) located in "elhi circle# 9:<@0 Partition of India and Pa)istan at Independence# P*B lost its premises in 5ahore, but continued to operate in Pa)istan# 9:D90 P*B ac/uired the =: branches of Bharat Ban) +est# 9:<1,O Bharat Ban) became Bharat *idhi 5td# 9:;90 P*B ac/uired ni!ersal Ban) of India# 9:;=0 The Go!ernment of Burma nationali8ed P*B?s branch in 3angoon +Kangon,# September 9:;D0 After the IndoCPa) (ar the go!ernment of Pa)istan sei8ed all the offices in Pa)istan of Indian ban)s, including P*B?s head office, (hich may ha!e mo!ed to Larachi# P*B also had one or more branches in 6ast Pa)istan +Bangladesh,# 9:;2s0 P*B amalgamated Indo .ommercial Ban) +est# 9:==, in a rescue# 9:;:0 The Go!ernment of India +G7I, nationali8ed P*B and 9= other major commercial ban)s, on 4uly 9:, 9:;:# 9:@; or 9:@A0 P*B opened a branch in 5ondon# 9:A; The 3eser!e Ban) of India re/uired P*B to transfer its 5ondon branch to State Ban) of India after the branch (as in!ol!ed in a fraud scandal# 9:A;0 P*B ac/uired $industan .ommercial Ban) +est# 9:<=, in a rescue# The ac/uisition added $industan?s 9<1 branches to P*B?s net(or)# 9::=0 P*B ac/uired *e( Ban) of India, (hich the G7I had nationali8ed in 9:A2# 9::A0 P*B set up a representati!e office in Almaty, La8a)hstan# 122=0 P*B too) o!er *edungadi Ban), the oldest pri!ate sector ban) in Lerala# 3ao Bahadur T#M# Appu *edungadi, author of Lundalatha, one of the earliest no!els in Malayalam, had established the ban) in 9A::# It (as incorporated in 9:9=, and in 9:;D had ac/uired selected assets and deposits of the .oimbatore *ational Ban)# At the time of the merger (ith P*B, *edungadi Ban)?s shares had 8ero !alue, (ith the result that its shareholders recei!ed no payment for their shares# P*B also opened a representati!e office in 5ondon# 122<0 P*B established a branch in Labul, Afghanistan# P*B also opened a representati!e office in Shanghai#

P*B established an alliance (ith 6!erest Ban) in *epal that permits migrants to transfer funds easily bet(een India and 6!erest Ban)?s 91 branches in *epal# 122D0 P*B opened a representati!e office in "ubai# 122@0 P*B established P*BI5 C Punjab *ational Ban) +International, C in the L, (ith t(o offices, one in 5ondon, and one in South $all# Since then it has opened a third branch in 5eicester, and is planning a fourth in Birmingham# Gatin Gupta became .hairmen of Punjab *ational Ban)# 122A0 P*B opened a branch in $ong Long# 122:0 P*B opened a representati!e office in 7slo, *or(ay#

3.4.3 ACHIE0EMENTS Punjab *ational Ban) announced its P9&K1292 results on 1: 4uly 122:, deli!ering ;1E yCoCy gro(th in net profits to 3sA=1 crore +3sD91cr,, substantially ahead of e'pectations on account of large treasury gains, apart from healthy operating performance# >hile the ban)s deposit gro(th (as reasonably robust at <#<E se/uentially and 1;#DE yCoCy, unli)e the peers its gro(th in ad!ances also remained strong at =AE yCoCy# In spite of being at the forefront of P53 cuts, the ban) posted a healthy gro(th in *et Interest Income +*II, of 1:E yCoCy# 7ther Income surged 99=E yCoCy, dri!en by strong treasury gains of 3s=DD crore during the /uarter in line (ith industry trends, e!en as &ee income (as also robust at <DE yCoCy, on the bac) of strong balance sheet gro(th# 7perating e'penses (ere higher than e'pected on account of 3s9D2 crore of pro!isions for imminent (age hi)es# Gross and *et *PA ratios remained stable se/uentially at 9#AE and 2#1E, (ith the ban) not adopting the guidelines of

treating floating pro!isions as part of tier 1 capital instead of adjusting against *PAs on e'press permission from the 3BI#

3.3 0ISION AND MISSION 0!"!o( To e!ol!e and position the ban) as a (orld class, progressi!e, cost effecti!e and customer friendly institution pro!iding comprehensi!e financial and related ser!ices#

Integrating frontiers of technology and ser!ing !arious segments of society especially (ea)er section#

.ommited to e'cellence in ser!ing the public and also e'celling in corporate !alues

M!""!o( To pro!ide e'cellent professional ser!ices and impro!e its position as a leader in financial and related ser!ices#

Build and maintain a team of moti!ated (or)force (ith high (or) ethos#

se latest technology aimed at customer satisfaction and act as an effecti!e catalyst for socio economic de!elopment#

3.5 0ALUES AND ETHICS Bonding and Integrity

6thical conduct

Periodic disclosure

.onfidentiality and fair dealing

.ompliance (ith rules and regulations

3.6 PRODUCTS AND SER0ICES Sa.!(+" Fu(d A%%ou( 7 Total &reedom Salary Account, P*B Prudent S(eep, P*B Gidyarthi S& Account, P*B Mitra S& A%%ou( Curr#( A%%ou( 7 P*B Gaibha!, P*B Gaura!, P*B Smart 3oamer F!8#d D#9o"! S%h#m#" 7 Spectrum &i'ed "eposit Scheme, Anupam Account, Mahabachat Schemes, Multi Benefit "eposit S%h#m# Cr#d! S%h#m#" 7 &le'ible $ousing 5oan, .ar &inance, Personal 5oan, .redit .ards So%!a) Ba(,!(+ 7 Mahila &armers >elfare Trust dyam *idhi Scheme, Lrishi .ard, P*B

Cor9ora # Ba(,!(+ 7 Gold .ard scheme for e'porters, 6QIM finance Bu"!(#"" S#% or 7 P*B Larigar credit card, P*B Lushal Pragati dhami, P*B Gi)as dhami dhami, P*B

Apart from these, and the P*B also offers loc)er facilities, senior citi8ens schemes, PP& schemes and !arious 6Cser!ices#

3.: A1ARDS AND DISTINCTIONS

Ranked among top 50 companies by the leading financial daily !conomic "imes. Ranked as #2#rd biggest bank in the $orld by %ankers &lmanac '(anuary 200)* +ondon. !arned ,th place among -ndia.s /ost "rusted top 50 ser0ice brands in !conomic "imes1 &.2 3ielson Sur0ey. -ncluded in the top 1000 banks in the $orld according to "he %anker +ondon. Golden Peacock &$ard for !4cellence in 2orporate Go0ernance 1 2005 by -nstitute of 5irectors. 6-22-.s Rural 5e0elopment &$ard for !4cellence in Rural 5e0elopment 7 2005

3.; ORGANI<ATIONAL STRUCTURE

8!&5 966-2! : %8-;&(- 2&/& P+&2! 3!<5!+8-1))

?93&+ 966-2!S '25*

R!G-93&+ 966-2!S '=>*

%R&328!S '=525*

SWOT

ANALYSIS

S r#(+ h
1#a,(#"" O99or u(! !#" Thr#a "

+et@s analyAe S<9" in order to kno$ as to $here the company stands 3.= S1OT ANAL/SIS

STREN4T

>ide net(or) 5arge number of customers &ast adaptability to technology Brand image

6EAKNESS

.asual beha!iour .orruption and red tapism Slo( decision ma)ing due to large hierarchy $igh gross *PA

OPPORTUNITIES

 $ome to home ban)ing ser!ices "i!ersification to(ards other fields Globali8ation

T REATS

Stiff competition from SBI and other pri!ate players#

C APTER 8

5.4 CUSTOMER SATISFACTION

.ustomer satisfaction refers to the e'tent to (hich customers are happy (ith the products and ser!ices pro!ided by a business# .ustomer satisfaction le!els can be measured using sur!ey techni/ues and /uestionnaires

DEFINITIONS:
D#$!(! !o( 4: .ustomer satisfaction is e/ui!alent to ma)ing sure that product and ser!ice performance meets customer e'pectations# D#$!(! !o( 3: .ustomer satisfaction is the perception of the customer that the outcome of a business transaction is e/ual to or greater than hisIher e'pectation# D#$!(! !o( 5: .ustomer satisfaction occurs (hen ac/uisition of products andIor ser!ices pro!ides a minimum negati!e departure from e'pectations (hen compared (ith other ac/uisitions#

Gaining high le!els of customer satisfaction is !ery important to a business because satisfaction customers are most li)ely to be loyal and to ma)e repeat orders and to use a (ide range of ser!ices offered by a business There are many factors (hich lead in high le!els of customer satisfaction including# Products and ser!ices (hich are customer focused and hence pro!ide high le!els of !alue for money#

>hat is clear about customer satisfaction is that customers are most li)ely to appreciate the goods and ser!ices that they buy if they are made to feel special# This occurs (hen they feel that the products and ser!ices that they buy ha!e been specially produced for them or for people li)e them#

5.3 BENEFITS OF CUSTOMER SATISFACTION

The importance of customer satisfaction and support is

increasingly becoming a !ital business issue as organi8ation reali8e the benefits of .ustomer 3elationship Management +.3M, for pro!iding effecti!e customer ser!ice# Professionals (or)ing (ithin customerC focused business or those running call centers or help des)s, need to )eep informed about the latest customer satisfaction techni/ues for running a !aluable customer ser!ice function# &rom small customer ser!ice departments to large call centers, the importance of de!eloping a !alued relationship (ith customers using .3M is essential to support customer and longCterm business gro(th# 1ha Do Cu" om#r" 1a( > Before (e begin to create tools to measure the le!el of satisfaction, it is important to de!elop a clear understanding of (hat e'actly the customer (ants# >e need to )no( (hat our customers e'pect from the products and ser!ices (e pro!ide# .ustomer e'pectations ha!e t(o types R 6'pressed Implied

E89r#""#d .ustomer 6'pectations are those re/uirements that are (ritten do(n n the contract and agreed upon by both parties for e'ample, product specifications and deli!ery re/uirements# Suppliers performance against these re/uirements is most of the items directly measurable# Im9)!#d .ustomer 6'pectations are not (ritten or spo)en but are the ones the customer (ould %e'pect the supplier to meet ne!ertheless# &or e'ample, a customer (ould e'pect the ser!ice representati!e (ho calls on him to be )no(ledgeable and competent to sol!e a problem on the spot# There are many reasons (hy customer e'pectations are li)ely to change o!ertime# Process impro!ements, ad!ent of ne( technology, changes in customers priorities, impro!ed /uality of ser!ice pro!ided by competitors are just a fe( e'amples# The customer is al(ays right# Suppliers job is to pro!ide the customer (hat heIshe (ants, (hen heIshe (ants it# .ustomer satisfaction is customers perception that a supplier has met or e'ceeded their e'pectations#

5.5 1HAT CONSTITUTES SATISFACTION>

>e cannot create customer satisfaction just by meeting

customers re/uirements fully because these ha!e to be met in any case# $o(e!er failing short is certain to create dissatisfaction Ma2or A r!-u #" o$ %u" om#r "a !"$a% !o( !( -a(,!(+ !(du" r? %a( -# "ummar!@#d a":

 Product /uality Premium 7utflo( 3eturn on In!estment Ser!ices 3esponsi!eness and ability to resol!e complaints and reject reports# 7!erall communication, accessibility and attitude# 1HAT ARE THE TOOLS> .ustomer e'pectations can be identified using !arious methods such as0 Periodic contract re!ie(s Mar)et research Telephonic inter!ie(s Personal !isits >arranty records Informal discussions Satisfaction sur!eys

"epending upon the customer base and a!ailable resources, (e can choose a method that is most effecti!e in measuring the customers perceptions# The purpose of the e'ercise is to identify priorities for impro!ements# >e must de!elop a method or combination of methods that helps to continually impro!e ser!ice#

5.6 CUSTOMER SATISFACTION SUR0E/S

&ormal sur!ey has emerged as by far the best method of periodically the customer satisfaction# The sur!ey are not mar)eting tools but an informationSgaining tool# 6nough home(or) needs to be before embar)ing on the actual sur!ey# This includes0 "efining 7bjecti!es of the Sur!ey "esign Sur!ey approach "e!elop /uestionnaires and forms Administer Sur!ey +6mail, Telephone or Post, Method of compiling data and analy8ing the findings &ormat of the report to present the findings There is no point in as)ing irrele!ant /uestions on a customer satisfaction /uestionnaire# The basic purpose is to find out (hat (e are doing right or (rong# >here is the scope for impro!ement, (here do (e stand !isCTC!is other suppliers# $o( (e can ser!e the customer betterU A %u" om#r "a !"$a% !o( m#a"ur#m#( !d#( !$? h# $o))o*!(+ o-2#% !.#": Importance to customers +.ustomers priorities, .ustomers perception of suppliers performance Kour performance relati!e to customers priorities# Priorities for impro!ement "ur.#? "hou)d a )#a"

Sur!ey forms should be easy to fill out (ith minimum amount of time and efforts on customers part# They should be designed to acti!ely encourage the customer to complete the /uestions# Ket they must pro!ide accurate data should also be sufficiently reliable for management decision ma)ing# This can be achie!ed by incorporating objecti!e type /uestions (here customer has to -rateV on scale of say 9 to 92# &or repeated sur!eys, you could pro!ide the rating that (as pre!iously accorded by the customer# This (or)s li)e a reference point for the customer# Space should al(ays be pro!ided for the customers o(n opinions this enables them to state any additional re/uirements or report any shortcomings that are not co!ered by the objecti!e /uestions# *ormally, (e deal !arious personnel at !arious le!els in the customers organi8ationSthe buyer, user, recei!ing inspector, finance and purchase person etc# sur!eying a number of respondents for each customer gi!es a complete perspecti!e of customer satisfaction# It may be necessary to de!ice a different /uestionnaire for each of them# 3espondents must be pro!ided a (ay to e'press the importance they attach to !arious sur!ey parameters# 3espondents should be as)ed to gi!e a (eighting factor, again on a rating scale of say, 9 to 92, for each re/uirement# This gi!es a better indication of relati!e importance of each parameter to(ards o!erall customer satisfaction and ma)es it easier for suppliers to prioriti8e their action plans by comparing the performance rating +scores, (ith importance rating +(eighing,#

C APTER 0

6.4 CONSUMER RESEARCH IN DIFFERENT DISCIPLINES A considerable body of literature e'ists on consumption, consumer beha!iour and consumer decision ma)ing process# Most of the consumer research focused on adopter categories, habits, attitudes and intentions rather that on actually measuring the satisfaction le!el (ith the ser!ice#

6.4.4 CONSUMER SATISFACTION PROCESS The paramount goal of mar)eting is to understand the customer and to influence buying beha!iour# The process can be depicted as follo(s0C *eed recognitionC reali8ation of the difference bet(een the desired and the current situation that ser!es as a trigger for entire process# Search for information# Pre purchase alternati!e e!aluation# .onsumption+utili8ation of the procured option, Post purchase alternati!e reCe!aluation# "i!estment+disposal of the unconsumed product and its remnants,

6.3 1A/S FOR MAINTAINING RELATIONS 1ITH THE CUTOMERS ADOPTED B/ PNB

The ability of the ban)ing industry to achie!e the socioCeconomic objecti!es and in the process bringing more and more customers into its fold (ill ultimately depend on the satisfaction of the customers# >e ha!e a strong belief that a satisfied customer is the foremost factor in de!eloping our business# A need (as felt by us at Punjab *ational Ban) that in order to become more customers friendly the Ban) should come out (ith .harter of its ser!ices for the customers# .iti8ens? .harter concept (as considered as a base instrument to fill this need and accordingly this document (as prepared# This document (as made in consultation (ith the users and highlights our Ban)?s commitments to(ards the customer satisfaction, thus ensuring accountability and responsibility amongst its officials and staff# This .ode for customers not only e'plains our commitment and responsibilities along (ith the redressed methods but also specifies the obligation on the part of customers for healthy practices in .ustomerCBan)er relationships# This is not a legal document creating rights and obligations# The .ode has been prepared to promote fair ban)ing practices and to gi!e information in respect of !arious acti!ities relating to customer ser!ice# >e (ish to ac)no(ledge the initiati!e ta)en by the Ministry of &inance, Go!ernment of India and Ministry of Administrati!e 3eforms and Public Grie!ances for encouraging us to bring out this .ode# >e maintain constant consultations (ith our clientele through !arious Seminars, .ustomer Meets, etc# to e!aluate impro!e and (iden the range of ser!ice to customer# $o(e!er, all our customers are re/uested to )eep us informed of their e'periences about the !arious ser!ices rendered by the Ban) and feel free to comment on this .ode# >e intend to bring it out in many 3egional 5anguages in subse/uent years#

COMMON PRACTICES FOLLO1ED B/ PNB BRANCHES

"isplay business hours# 3ender courteous ser!ices# Attend to all customers present in the ban)ing hall at the close of business hours# Pro!ide separate ?6n/uiry? or ?May I help you? counter at large branches# 7ffer nomination facility to all deposit accounts +i#e# account opened in indi!idual capacity, and all safe deposit loc)er hirers +i#e# indi!idual hirers,# "isplay interest rates for !arious deposit schemes from time to time# *otify change in interest rates on ad!ances# Pro!ide details of !arious deposit schemesIser!ices of the Ban)# Issue "emand "rafts, Pay 7rders, etc# "isplay TimeC*orms for !arious ban)ing transactions# Pay interest for delayed credit of outstation che/ues, as ad!ised by 3eser!e Ban) of India +3BI, from time to time# Accord immediate credit in respect of outstation and local che/ues upto a specified limit subject to certain conditions, as ad!ised by 3BI from time to time# Pro!ide complaintIsuggestion bo' in the branch premises# "isplay address of 3egionalIHonal and .entral 7ffices as (ell as *odal 7fficer dealing (ith customer grie!ancesIcomplaints#

C APTER +

:.4 STATEMENT OF THE PROBLEM

This Study (ill help us to understand the consumers satisfaction about ban)ing ser!ices and products# This study (ill help ban)s to understand, ho( a consumer selects, organi8es and interprets the Puality of ser!ice and product offered by ban)s# The mar)et is more a(are and realistic about in!estment and returns from financial products# In this bac)ground this study tries to analy8e the customer satisfaction to(ards ban)ing ser!ices in general and P*B in particular# :.3 NEED FOR THE STUD/ The deeper the company understands of consumers needs and satisfaction, the earlier the product or ser!ice is introduced ahead of competition, the greater the e'pected contribution margin# $ence the study is !ery important# This study (ill help companies to customi8e the ser!ice and product, according to the consumers need# This study (ill also help the companies to understand the e'perience and e'pectations of the e'isting customers#

:.5 SCOPE OF THE STUD/

This study is limited to the consumers (ith in *e( "elhi city# The study (ill be able to re!eal the preferences, needs, satisfaction of the customers regarding the ban)ing ser!ices, It also help ban)s to )no( (hether the e'isting products or ser!ices the are offering are really satisfying the customers needs#

:.6 OBAECTI0E OF THE STUD/ To ha!e an insight into the attitudes and beha!iors of customers# To find out the differences among percei!ed ser!ice and e'pected ser!ice# To produce an e'ecuti!e ser!ice report to upgrade ser!ice characteristics# To understand consumers preferences# To access the degree of satisfaction of the consumers

:.: REASERCH METHODOLOG/

A descripti!e study tries to disco!er ans(ers to the /uestions (ho, (hat, (hen, (here, and, sometimes, ho(# The researcher attempts to describe or define a subject, often by creating a profile of a group of problems, people, or e!ents# Such studies may in!ol!e the collection of data and the creation of a distribution of the number of times the researcher obser!es a single e!ent or characteristic +the research !ariable,, or they may in!ol!e relating the interaction of t(o or more !ariables# 7rgani8ations that maintain databases of their employees, customers, and suppliers already ha!e significant data to conduct descripti!e studies using internal information# Ket many firms that ha!e such data files do not mine them regularly for the decisionCma)ing insight they might pro!ide# This descripti!e study is popular in business research because of its !ersatility across disciplines# In forCprofit, notCforCprofit and go!ernment organi8ations, descripti!e in!estigations ha!e a broad appeal to the administrator and policy analyst for planning, monitoring, and e!aluating# In this conte't, ho( /uestions address issues such as /uantity, cost, efficiency, effecti!eness, and ade/uacy# "escripti!e studies may or may not ha!e the potential for dra(ing po(erful inferences# do# A descripti!e study, ho(e!er, does not e'plain (hy an e!ent has occurred or (hy the !ariables interact the (ay they

:.; SAMPLE METHOD

.on!enience sampling method is used for the sur!ey of this project# It is a nonCprobability sample# This is the least reliable design but normally the cheapest and easiest to conduct #In this method 3esearcher ha!e the freedom to choose (home!er they find, thus the name con!enience# 6'ample includes informal pools of friends and neighbours or people responding to a ne(spapers in!itation for readers to state their position on some public issue#

:.;.4 SAMPLE SI<E Sample si8e denotes the number of elements selected for the study# &or the present study, 922 respondents (ere selected at random# All the 922 respondents (ere the customers of different branches of P*B# :.= SAMPLING METHOD A sample is a representati!e part of the population# In sampling techni/ue, information is collected only from a representati!e part of the uni!erse and the conclusions are dra(n on that basis for the entire uni!erse# A con!enience sampling techni/ue (as used to collect data from the respondents#

:.B METHOD OF DATA COLLECTION To )no( the response, the researcher used /uestionnaire method# It has been designed as a primary research instrument# Puestionnaires (ere distributed to respondents and they (ere as)ed to ans(er the /uestions gi!en in the /uestionnaire# The /uestionnaires (ere used as an instrumentation techni/ue, because it is an important method of data collection# The success of the /uestionnaire method in collecting the information depends largely on proper drafting# So in the present study /uestions (ere arranged and interconnected logically# The structured /uestionnaire (ill reduce both inter!ie(ers and interpreters bias# &urther, coding and analysis (as done for each /uestions response to reach into findings, suggestions and finally to the conclusion about the topic#

:.C T/PES OF DATA 6!ery decision poses uni/ue needs for information, and rele!ant strategies can be de!eloped based on the information gathered through research# 3esearch is the systematic objecti!e and e'hausti!e search for and study of facts rele!ant to the problem 3esearch design means the frame(or) of study that leads to the collection and analysis of data# It is a conceptual structure (ith in (hich research is conducted# It facilitates smooth sailing of !arious research operations to ma)e the research as effecti!e as possible#

PRIMAR/ DATA Primary data are those collected by the in!estigator himself for the first time and thus they are original in character, they are collected for a particular purpose# A (ellCstructured /uestionnaire (as personally administrated to the selected sample to collect the primary data# SECONDAR/ DATA Secondary data are those, (hich ha!e already been collected by some other persons for their purpose and published# Secondary data are usually in the shape of finished products# T(o types of secondary data (ere collected for the preparation of the project (or)0 I( #r(a) Da a (as generated from companys brochures, manuals and annual reports E8 #r(a) Da aD on the other hand, (as generated from maga8ines, research boo)s, intranet and internet +(ebsites,#

:.4E LIMITATIONS OF THE STUD/ Although the study (as carried out (ith e'treme enthusiasm and careful planning there are se!eral limitations, (hich handicapped the research !i8, 4. T!m# Co(" ra!( ": The time stipulated for the project to be completed is less and thus there are chances that some information might ha!e been left out, ho(e!er due care is ta)en to include all the rele!ant information needed# 3. Sam9)# "!@#: "ue to time constraints the sample si8e (as relati!ely small and (ould definitely ha!e been more representati!e if I had collected information from more respondents# 5. A%%ura%?: It is difficult to )no( if all the respondents ga!e accurate informationO some respondents tend to gi!e misleading information# 6# It (as difficult to find respondents as they (ere busy in their schedule, and collection of data (as !ery difficult# Therefore, the study had to be carried out based on the a!ailability of respondents#

C APTER 9

TABLE 9./ S ARE OF DIFFERENT TYPES OF ACCOUNTS

SL. N*. 1. 2. #. =. 5. "otal

NATURE OF ACCOUNTS Sa0ing &B2s 2urrent &B2s 6i4ed 5eposits +oans 9thers

NUMBER OF RESPONDENTS :> , = # ) 100

PERCENTA4E OF RESPONDENTS :>C ,C =C #C )C 100C

Graph - 6.1 Classification based on nature of A/Cs

Saving A/Cs

Current A/Cs

Fixed Deposits

Loans

Others

Ana,:sis- &bo0e table sho$s that :>C respondents ha0e Sa0ing &B2s and ,C ha0e 2urrent &B2s and rest of the respondents ha0e 1#C share of other &B2s in total '$hich includes fi4ed deposits loans and other products* In%!r$r!%a%i*n- "his means most of the respondents are ha0ing Sa0ing &B2s $hich means the bank deposits are enriching as Sa0ing &B2s share is most. TABLE 9.7 SATISFACTION OF RESPONDENTS 6IT BRANC SERVICES OFFERED BY PNB

SL. N*. 1. 2. TOTAL

RESPONSE Satisfied 3ot satisfied

NUMBER OF RESPONDENTS >, 11 /..

PERCENTA4E OF RESPONDENTS >,C 11C /.. ;

Graph - 6.2 Classification based on satisfaction level of respondents

89

100 No of respondents 50

11

0 Satisfied Not satisfied

Ana,:sis- 6rom the abo0e table it could be inferred that >,C of the consumers are satisfied $ith the ser0ice and Duality of products of their bank. 9nly 11C of consumers are not satisfied. In%!r$r!%a%i*n- /ost of the respondents are satisfied $ith the ser0ice offered by P3%. Presently the bank offers 0arieties of ser0ices and the customers are getting a good rate of return from their deposits. 2ustomers are getting good ser0ice from the bank.

TABLE 9.8 RATIN4S OF T E SERVICES OFFERED BY T E RESPONDENT<S LIFE INSURANCE COMPANY

SL. N*. 1. 2. #. =. 5. TOTAL

RATIN4S !E2!++!3" F!RG G995 G995 &F!R&G! P99R

NUMBER OF RESPONDENTS 05 0, :) 0) 0= /..

PERCENTA4E OF RESPONDENTS 5C ,C :)C )C =C /.. ;

Graph - 6.3 Classification based on Ratin of the service offered b! "#$ branches

6'% 9

&6 !"C!LL!N# $!%& 'OOD 'OOD A$!%A'! (OO%

Ana,:sis- 6rom this table it could be inferred that :)C of the consumers ha0e rated ser0ice offered as Hgood@ ,C of them ha0e rated them as H0ery good@ and 05C of them ha0e rated as e4cellent and a0erage@ $hile only =C ha0e rated as Hpoor@ . In%!r$r!%a%i*n- Ser0ice offered by the bank is impro0ing day by day. Returns consumers are getting are also attracti0e. /ajority of the customers rates good 0ery good and e4cellent because of the customer ser0ice offered by the bank. %anks are pro0iding a good ser0ice to the customers due to increased competition in the market. "his may be the reason for more satisfaction TABLE 9.0 TABLE S O6IN4 MOTIVE BE IND T E SELECTIN4 PNB SL.NO ATTRIBUTE SCORE RANK

1. 2. #. =.

%rand name 2ustomer ser0ice -nterest 9thers

5) #0 12 2

1 2 # =

Graph - 6.' )otive behind the *electin of "#$ ,0 50 +0 No of *0 respondents )0 10 0 -otives .rand na/e Custo/er service 0nterest Others

%6 3( 12 2

Ana,:sis- "his table sho$ the strengths and $eaknesses of the brand and $hat are the important criteria or factors on $hich decision1making is done. 6rom this table $e can infer that consumers gi0e more importance for H%rand name@ secondly they prefer Hsatisfaction@ and then Hreturns on in0estment@. In%!r$r!%a%i*n- "his purely sho$s that people are no$ looking for$ard for better customer ser0ice in addition to the brand name in $hich they are in0esting and the returns they are getting. TABLE 9.+ CONSUMERS 6ILLIN4NESS TO RECOMMEND T EIR LIFE INSURANCE COMPANY TO OT ERS

SL. N*. 1. 2. TOTAL

RESPONSES Recommended 3ot recommended

NUMBER OF RESPONDENTS ,2 0> /..

PERCENTA4E OF RESPONDENTS ,2C >C /.. ;

Graph - 6.% Classification based on the +illin ness to reco,,end "#$ branch services to other ban-s

reco//ended

Not reco//ended

Ana,:sis- 6rom this table it can be noted that the majority of consumers ',2C* $ould like to recommend their bank ser0ices to others and only >C of consumers $ould not like to recommend it to others. In%!r$r!%a%i*n- Since the competition has increased in the field of benefits and ser0ice of banking. So customers are getting good ser0ice so that they are $illing to recommend their bank ser0ices to others.

TABLE 9.9 CONSUMERS 6ILLIN4NESS TO S IFT T EIR A=Cs TO OT ER BANKS SL. N*. 1. RESPONSES Shift NUMBER OF RESPONDENTS > PERCENTA4E OF RESPONDENTS >C

2. TOTAL

5oesn@t shift

,2 /..

,2C /.. ;

Graph - 6.6 Classification based on the +illin ness of respondents to shift their A/Cs to other ban-s

Shift

Doesn1t shift

Ana,:sis- 6rom this table it can be noted that the majority of consumers ',2C* doesn@t like to shift their &B2s to other banks. In%!r$r!%a%i*n- "he reason can be increasing customer satisfaction and Duality ser0ices offered by the bank.

C APTER 3

SUGGESTIONS F RECOMMENDATIONS

>ith regard to ban)ing products and ser!ices, consumers respond at different rates, depending on the consumers characteristics# $ence I P*B should try to bring their ne( product and ser!ices to the attention of potential early adopters# "ue to the intense competition in the financial mar)et, P*B should adopt better strategies to attract more customers#

3eturn on in!estment company reputation and premium outflo( are most preferred attributes that are e'pected by the respondents# $ence greater focus should be gi!en to these attributes# P*B should adopt effecti!e promotional strategies to increase the a(areness le!el among the consumers# P*B should as) for their consumer feedbac) to )no( (hether the consumers are really satisfied or dissatisfied (ith the ser!ice and product of the ban)# If they are dissatisfied, then the reasons for dissatisfaction should be found out and should be corrected in future# The P*B brand name has earned a lot of good(ill and enjoys high brand e/uity# As there is intense competition, P*B should (or) hard to maintain its position and offer better ser!ice and products to consumers#

 The ban) should try to increase the Brand image through performance and ser!ice then, only the customers (ill be satisfied# Majority of the people find ban)ing important in their life, so P*B should employ the strategies to con!ert the (ant in to need (hich (ill enrich their business#

C APTER 2

CONCLUSION:

The

project

entitled

-A

STUD/

TO

UNDERSTAND

THE

CUSTOMER SATISFACTION AT PNBG has helped me in studying satisfaction about ser!ices and products offered to consumers#

Since the opening up of the ban)ing sector, pri!ate ban)s are in the fray each one trying to co!er more mar)et share than the other#

Ket, P*B is far behind SBI# P*B must also be alert (hat (ith Pri!ate Ban)s +I.I.I, $"&., breathing do(n its nec)# I am sure the ban) (ill find my findings rele!ant and I sincerely hope it uses my suggestions enlisted, (hich I hope (ill ta)e them miles ahead of competition# In short, I (ould li)e to say that the !ery act of the concerned management at P*B in gi!ing me the job of critically e'amining consumer satisfaction to(ards financial products and ser!ices of the company is a step in their continual mission of ma)ing all round impro!ements as a means of progress# I am sure the ban) has a !ery bright future to loo) for(ard to and (ill be a trailbla8er in its o(n right#