A Synopsis On The PROJECT

CUSTOMER SATISFACTION at The JALGAON PEOPLES Co-Op BANK Ltd., Jalgaon

IN PARTIAL FULFILLMENT OF MASTER IN BUSINESS ADMINISTRATION (FM)

SUBMITTED BY PAWAR VIJAY DINKAR

AS UNDER GUIDANCE PROF. R. V. DESHMUKH

SUBMITTED TO YASHWANTRAO CHAVAN MAHARASHTRA OPEN UNIVERSITY, NASHIK (FEBRUARY 2013)

INTRODUCTION: Its the world of customer satisfaction. The business holds good only if customer is satisfied. The bank recognizes this and considers his customer as the King. Banks are now customer oriented. The Bank has started to cater the needs of customer with various ways and means. For better and effective customer service the Bank has taken many steps. Computerization at all branches including the Head Office. All services are available to the customers for all seven days of the week. Locker facility is available. D.D. all over India with the help of private and nationalized Banks is made available. Rebate to the borrower subject to fulfillment of certain conditions. Instant loans upto Rs. 50000/-. 1% more interest on deposits of Senior Citizens. 1% more interest on the charitable trusts. Special Services: i. Single Window Operation and Teller Machine. ii. Currency Counting Machine for quick counting of notes. iii. Concurrent audit. iv. Mobile Van for collection of deposits. 1.1 Fringe Benefit Tax (FBT) The taxation of prerequisite or fringe benefit provided by an employer to his employees, in addition to the cash salary or wages paid is subject to varying treatment in different countries. These benefits are either taxed in the hands of the employees themselves
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or the value of such benefit is subject to a fringe benefit tax in the hands of the employer. The rational for levying a fringe benefit tax on the employer lies in the inherent difficulty in isolating the personal element where there is collective enjoyment of such benefits and attributing the same directly to the employee. This is so especially where the expenditure incurred by the employer is ostensibly for purpose of the business but includes, in partial measures, a benefit of personal nature. Moreover in cases where the employer directly reimburses the employee for expenses incurred, it becomes difficult to effectively capture the true extent of the prerequisite provided because of the problem of cash flow in the hand of the employer. FBT payable by Employer: Fringe Benefit Tax is payable by an employer on the fringe benefits provided or deemed to have been provided by him to his employees. Meaning of Employer: Employer means 1. a company. 2. a firm. 3. an association of persons or a body of individuals, whether incorporated. 4. a local authority; and 5. every artificial juridical person are not falling within any of the preceding sub clauses.

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Charge of Fringe Benefit Tax: In addition to the income tax charged under this act, there shall be charged for every assessment year commenting on or after the 1st day April 2006 additional income tax (In this act referred to as Fringe Benefit Tax) in respect of the Fringe Benefit provided or deemed to have been provided by an employer to his employees during the previous year at the rate of 30% on the value of such Fringe Benefit. An analysis of the above reveals the following 1. Fringe Benefit Tax is payable by an employer. 2. Fringe Benefit Tax is payable w.e.f. assessment year 200607. 3. Fringe Benefit Tax is payable in addition to the income tax charged under the income-tax act. 4. Fringe Benefit Tax is payable in respect of the Fringe Benefit provided or deemed to have been provided by the employer to his employees during the previous year. The words deemed to have been provided clearly indicate that such Fringe Benefit Tax is presumptive tax. 5. There must be at least one employees in the concern before an employer can be charged to Fringe Benefit Tax. 6. The tax will be levied @30% on the value of such Fringe Benefit but the employer shall be charged surcharge @10% (plus if applicable) and education cess @2% on the tax including surcharge.

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1.2 Service Tax: Levy of Service Tax on Banking & Other Financial Services. As per the g of the term Banking & Other Financial Services has been expanded to include various services, viz., lending, issue of Pay Order, Demand Draft, Cheques, Letter of Credit, Bill of Exchange, Bank Guarantee, Finance Bill (No. 2) 2004 and the subsequent Govt. Notifications, the meaninOverdraft Facility, Bills Discounting Facility, Safe Deposit Lockers, Operation of Bank Accounts, etc. Finance Act 2006 has added the following services related to banking business w.e.f. 01.05.2006: a. Sponsorship expenses other than sponsorship of sport event. b. Service provided by Recovery agent to Bank. c. Service provided to Bank/by Bank in relation to credit card, charge card or other payment or other payment card services. d. Transfer of money through different modes, such as telegraphic transfer and electronic transfer, by any person. Hence income/commission form money (including through Western Union) will attract service charge. Note: The a, c and d services are generally dealt at Central Office level. Accordingly, the Service Tax is applicable on all types of income i.e. commission, brokerage, charges, fees, etc. except the interest earned on loans and advances. It is to be noted that the Commission on Govt. Business is also excluded from the Service Tax. The Bank/branch is not required to pay service tax on commission income from life/general insurance business as
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liability to pay service tax is of insurance company and not the insurance agent. As per new valuation rules coming to effect from 18.04.2006, all cost and expenditure incurred by service provider in the course of providing taxable services whether reimbursed or otherwise, shall form part of value for the purpose of charging service tax. It means if service provider is incurring costs such as traveling expenses, postage, telephone etc, the service tax would be recovered on such expenses also along with fees charged by service provider. 1.3 Cenvat Credit There is a provision under CENVAT Credit Rules 2004 for allowing deduction of the amount of Service Tax paid on Input Services to our Service Providers (like BSNL / Courier, etc.) from our Service Tax Liability to be paid to the Government, on our Commission Earnings, on monthly basis. 1.4 Tax Deducted At Source (TDS) The bank is required to make TDS on payment of various expenses as well as on interest on time deposits. It is necessary to deduct TDS at appropriate rate and pay it on time in order to avoid interest and penalty. Besides, bank/branch has to file returns related to TDS within stipulated time. RATIONALE: Today 21st Century is the age of competition, which plays an important role in development of an organization or towards the development of any sector. For the same TAX purpose of a bank must be considered.

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TAX purpose plays an important role in a large-scale Banks to improve their performance. Considering this project work has the great rationale for the development of large-scale bank and it has great importance today. OBJECTIVES OF STUDY: Without aim and objectives of any study there is no meaning. Therefore the objects behind this study are as follows: 1. To study the concept of customer satisfaction. 2. To analyze the features of customer satisfaction at The JALGAON PEOPLES Co-op Bank Ltd., Jalgaon. 3. To analyze the factors affecting customer satisfaction at The JALGAON PEOPLES Co-op Bank Ltd., Jalgaon. 4. To study the impact of customer satisfaction at The JALGAON PEOPLES Co-op Bank Ltd., Jalgaon. 5. To suggest measures to improve customer satisfaction at The JALGAON PEOPLES Co-op Bank Ltd., Jalgaon. HYPOTHESIS: Management student has formulated the following hypotheses for the proposed project work 1. Customer Satisfaction increases the efficiency of the employees of the Bank. 2. Customer Satisfaction increases the profitability of the bank.

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RESEARCH METHODOLOGY: Researcher will select Descriptive Method: For satisfying the object of the project data collection is necessary and must required task. Universe: Population of Jalgaon District. Sampling Unit: Male and Female respondent, 18 years and above working class and professionals. Sampling Method: Non-probability sampling method. Sampling Size: 100 Respondents from various branches. Research Period: Two years April 2009 to March 2011. Statistical data may classify into two types; those are as follows: Primary data Secondary data 1) Primary data: The primary data are those which are collected and are fresh and for first time and thus happens in the original in character. Here primary data would be collected from various sources like. Direct Interview Direct participation 2) Secondary Data: The secondary data are those which have already been collected by someone else and which have already been passing through the statistical process. Secondary data can be collected from following source: Circular issue by Reserve Bank of India on prudential norms for income recognition, aspect classification providing, and other related matter. Bank annual reports and statements and books etc.
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ANALYZING THE DATA: The next step in research process is to extract pertinent findings from the data. The researcher will tabulates the data and uses MS Excel to analyze the respondents views and opinions. EXPECTED CONTRIBUTION: This proposed project work would be useful for the development of an large scale organization. It will increase efficiency and responsibility of staff, it will helps to the research doing persons, manager of an organization in future. CHAPTERIZATION: The Management Student has formulated the following chapter scheme for the proposed Project Work: 1. 2. 3. 4. Introduction Review of Literature Customer Satisfaction : Conceptual Analysis Organization Profile : The JALGAON PEOPLES Co-op Bank Ltd., Jalgaon. 5. Customer Satisfaction at The JALGAON PEOPLES Coop Bank Ltd., Jalgaon. 6. Data Analysis 7. Trend, Causes and Impact of Customer Satisfaction at The JALGAON PEOPLES Co-op Bank Ltd., Jalgaon. 8. Findings 9. Conclusion 10. Suggestions Bibliography Questionnaire
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BIBLIOGRAPHY The management student has used the following bibliography for preparing the synopsis: www.bnknetindia/com/banking/finance http://en/wikipedia/org/wiki/bankingfinancialcompany www.google.com www.iloveindia.com

Student Pawar Vijay Dinkar

Guide Prof. R. V. Deshmukh

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