A

PROJECT REPORT
ON

COMPARITIVE ANALYSIS OF
STANDARD CHARATERED BANK
WITH OTHER MNCS BANK
FOR THE FULFILMENT OF BBA-V SEM SUMMER
TRAINING PROJECT IN GGSIP UNIVERSITY,
KASHMERE GATE, NEW DELHI

SUBMITTED BY:
VIPUL
BBA Vth SEMESTER
GGSIPU

MAHARAJA AGRASEN INSTITUTE OF

MANAGEMENT STUDIES

ACKNOWLEDGEMENT
IT WOULD BE A GREAT PLEASURE FOR ME TO TAKE
THIS OPPORTUNITY IN THANKING EVERYBODY WHO
HAD BEEN OF GREAT HELP IN THE COMPLETION OF MY
SUMMER PROJECT. MY SINCERE GRATITUDE GOES TO
MR. VIVEK VISWAKARMA (RELATIONSHIP OFFICER)
MY ORGANIZATIONAL GUIDE, WITHOUT WHOSE HELP
THIS PROJECT WOULD HAVE SEEMED IMPOSSIBLE.
AT THE SAME TIME I AM GREATLY OBLIGED TO THE
FACULTY GUIDE OF MY INSTITUTE MR. AMIT GUPTA
FOR HIS VALUABLE CONTRIBUTION TO MY PROJECT.
IT HAS BEEN A GREAT LEARING EXPERIENCE TO BE ON
THE JOB CUM TRAINING AND DOING THE PROJECT
SIMULTANEOUSLY, WHICH ENRICHED MY KNOWLEDGE
AND DEVELOPED MY OUTLOOK FOR BECOMING A
BETTER PROFESSIONAL ANTICIPATING WITH
CONVICTION THAT I HAD BEEN OF SOME HELP TO
THEM. I WOULD ALSO LIKE TO TAKE THIS
OPPORTUNITY TO THANK ALL THE STAFF MEMBERS AT
Standard Chartered G.K BRANCH FOR COOPERATING WITH
ME THROUGHOUT THE TENURE OR MY WORK THERE.
( VIPUL BENIWAL)

PREFACE
THE COMPILATION OF THE PROJECT REPORT MEANT
FOR SUBMITTING TO THE FACULITY OF BLS INSTITUTE
OF MANAGEMENT FOR THE PURPOSE OF THE
EVALUATION IN SUMMER TRAINING OF THE
REQUIREMENT FOR THE BACHELORS OF BUSINESS
ADMINISTRATION (BBA).
THE DISSERTATION IMPARTS A DEDICATION &
PERSPECTIVE DISCUSSION ON THE COMPARITIVE
ANALYSIS OF STANDARD CHARTERED BANK WITH
OTHER MNC BANKS IN COMPREHENSIVE AND
CONCISE WAY ON THE BASIS OF TRAINING WHICH WAS
DONE BY ME IN STANDARD CHARTERED BANK. THIS
REPORT HAS BEEN WRITTEN FOR THE MEN OF
MARKETING AS WELL AS THE COMMONER.
MARKETING IS THE HEART OF EVERY ORGANISATION. I
HAD COLLECTED ALL THE NECESSARY PRIMARY DATA,
WHICH HELPING ME TO FULFILL THE PROJECT
OBJECTIVE.

List of contents
Introduction
Industry profile
New Generation Banking
Business of Banking
Various types of deposits

Objective
Research Methodology
Chapter 1
STANDARD CHARTERED A leading multinational Bank
of the country
1.1

1.2

A brief history of standard chartered Bank :

The early years
Expansion in Africa and Asia
The impact of war
Standard chartered in 1990s
Standard chartered Today

SWOT Analysis :

Strengths
Weaknesses
Opportunities

 Threats

1.3

Analysis
Questionnaire
Sample size
Analysis of information

Chapter 2
Services
2.1

services provided by standard chartered

2.2

Additional Services

Chapter 3
Account
3.1

Maintaining account with

Standard chartered

3.2

Comparison of saving accounts

With other banks of India

Conclusion
Recommendations
Bibliography

INTRODUCTION

INTRODUCTION

Standard Chartered is the worlds leading emerging markets

bank. It employs 32000 people in over 500 offices in more than
56 countries in the Asia Pacific region, South Asia, the Middle
East, Africa, United Kingdom and Americas.
The bank serves both consumer and wholesaler banking
customers. The consumer bank provides credit cards, personal
loans, mortgages, deposit taking activity and wealth
management services to individuals and medium sized
businesses. The wholesale bank provide service to the
multinational, regional and domestic corporate and institutional
clients in trade finance, cash management, custody, lending
foreign exchange, interest rate management and debt capital
markets.
With nearly 150 in emerging markets the bank has unmatched
knowledge and understanding of its customers in its markets.
Standard Chartered recognizes its responsibilities lies to its staff
and to the communities in which it operates.

INDUSTRY PROFILE

The Indian banking can be broadly categorized into nationalized

(govt. owned), private banks and specialized banking institutions.
The reserve bank of India acts as a centralized body monitoring
any discrepancies and short comings in the system. Since the
nationalization of banks in 1969, the public sector banks or the
nationalized banks have acquired a place of prominence and has
since then seen tremendous progress. The need to become highly
customer focused has forced the slow moving public sector banks
to adopt a fast track approach. The unleashing of product and
services through the net has galvanized players at all levels of
banking and financial institutions market grid to look a new at
their existing portfolio offerings. Conservative banking practices
allowed Indian banks to be insulated partially from the Asians
currency crisis. Indian banks are now quoting higher valuations
when compared to banks in other Asian countries i.e. Hong Kong,
Singapore, Philippines, etc. that have major problems linked to
huge non performing assets (NPA) and payment defaults. Cooperative banks are nimble footed in approach and armed with
efficient branch network focused primarily on the high revenue
niche retail segments. The Indian banking has finally worked up
to the competitive dynamics of the new Indian market and is
addressing the relevant issue to take on the multifarious challenge
of globalization. Banks that employ IT solutions are perceived to
be futuristic and proactive players capable of meeting the
multifarious requirements of the large customer base. Private

bank have been fast on the uptake and are reorienting their
strategies using the internet as their medium. The internet has
emerged as a new and challenging frontier of marketing with the
conventional physical world tenets being just as applicable like in
any other marketing medium.
The Indian banking has come from a long way from being a
sleepy business institution to a highly proactive and dynamic
entity. This transformation has been highly brought about by the
large dose of liberalization and economic reforms that allowed
banks to explore new business opportunity rather than generating
revenues from conventional streams. The bank in Indian is highly
fragmented with 30 banking units contributing to almost 50% of
deposit and 60% of advances. Indian nationalized banks continue
to be the major lenders in the economy due to their sheer size
penetrative networks which assures them high deposit
mobilization. The Indian banking can be broadly categorized into
nationalized, private banks and specialized banking institutions.
The reserve bank of India acts as a centralized body monitoring
any discrepancies and shortcoming in the system. It is the
foremost monitoring body in the Indian financial sector. The
nationalized bank continued to dominate the Indian banks arena.
Industry estimate indicate that out of 274 commercial banks
operating in India, 233 banks are in public sector and 51 are in the
private sector. The private sector bank grid also includes 24
foreign banks that have started their operations here. Under the
ambit of nationalized banks come the specialized banking

institutions. These co-operative, rural banks focus on the areas of

agriculture, rural development, etc. unlike commercial banks
these co-operative banks do not lend on the basis of prime
lending rates. They also have the various tax sops bcos of their
holding pattern and lending structure and hence have lower
overheads. This enable them to give a marginally higher % age on
saving deposits. Many of these co-operative
banks diversified into specialized are alike car finance, housing
loans, truck finance, etc. in order to keep pace with their public
sector and private counterparts, the co-operative banks too have
invested heavily in IT to offer high end computerize banking
services to its clients.

NEW GENERATION BANKING

The liberalized policy of government of India permitted entry

to private sector in the banking; the industry has witnessed the
entry of 9 new generation private banks. The major
differentiating parameter that distinguishes these banks from all
the other banks in the Indian banking is the level of services that
is offered to the customer. Verify the focus has always been
centered on the customer understanding his needs, preempting
him and consequently delighting him with various

configurations of benefits and a wide portfolio of product and

services. These banks have generally been established by
promoters of repute or by high value domestic financial
institutions. The popularity of these banks can be gauged by the
fact that in a short span of time, these banks have gained
considerable customer confidence and consequently have shown
impressive growth rates. Today the private banks corners almost
4% share of the total share of deposit. Most of the banks in this
category are concentrated in the high growth urban areas in
metros. With efficiency being the major focus, these banks have
leveraged on their strengths and competencies viz. management,
operational, efficiency and flexibility, superior product
positioning and higher employee productivity skills. The private
banks with their focused business and service portfolio have a
reputation of being niche players in the industry.
A strategy that has allowed these banks to concenterate on few
reliable high net worth companies and individuals rather than
cater to the mass market. These well chalked out integrates
strategy plans have allowed most of these banks to deliver
superlative level of personalized services. With the reserve bank
of India allowing these banks to operate 70% of their businesses
in urban areas, this statutory requirement has translated into lower
deposit mobilization cost and higher margins relative to public
sector banks.

BUSINESS OF BANKING

Banking, in an additional sense is the business of accepting

deposit of money from public for the purpose of lending and
investment. These deposits can have a distinct feature of being
withdraw able by cheque, which no other financial institution
can offer.
In additional to this banks offer various other financial services
also which include:
Issuing Demand Draft and Travelers Cheque

Collection of Cheque, Bills of Exchange

Safe Deposit Lockers

Issuing Letter of Credit & Letter of Guarantee

Sale and purchase of Foreign Exchange

Custodial services

Investment services

The business of banking is highly regulated since banks deal

with money offered to them by the public and ensuring the
safety of this public money is the prime responsibility of any
bank. That is why banks are expected to be prudent in their
lending and investment activities. The major regulations and
acts that govern the banking business are:

Banking regulation Act

Reserve Bank of India Act

Foreign Exchange Regulation (amendment) Act, 1993

Indian Contract Act

Negotiable Instrument Act

Banks lend money either for productive purposes to individuals,

firms, corporate, etc. or for buying house property, car and other
consumer durable and for investment purposes to individuals
and others. However banks do not finance any speculative
activity. Lending is risk taking. The risk should be covered by
having prudent norms for lending. The depositors of banks are
also assured of safety of their money by deploying some %age
of deposits in statutory reserve like SLR & CRR.

VARIOUS TYPES OF DEPOSITS

BANK DEPOSIT

Banks basically offer two types of deposits:

Demand Deposit

Term Deposit

Demand Deposit - by its nature, are payable as and when the

depositor makes demand to pay. There are two types of
accounts which are demand deposit in nature. These are:

Saving Account

Current Account

Any amount can be deposited in these accounts at any time. The

amount deposited or a part of it can be withdrawn any time by
using a cheque. However, banks normally stipulate a minimum
balance to be maintained in this account.
Saving Account - is offered only to individuals and non trading
entities. Banks also pay interest on saving account. The interest
is paid on the minimum balance held in the account between the

10th and the last day of the month. The interest is paid on a
quarterly basis. The rate of interest is determined by RBI.
Current Account - can be opened in the name of individual or
any firm or a company. No interest is paid on the balances held
in this account.
Term Deposit are the deposit where a fixed sum of money is
kept for a specific period and the money is repaid only of the
expiry of this period. The interest offered on these deposits
depends upon the period of the deposit. Banks accept term
deposits for periods ranging from 15 days to 10 years. However,
our bank accept deposit for a maximum period of 5years. Banks
are free to determine the interest rates on the deposits. The
interest is normally paid out every quarter. But at the request of
the customer, the interest is paid every month but at a discount
rate of interest.
Three most common forms of terms deposit are:

Fixed deposits

Reinvestment deposits

Recurring deposits

Fixed deposits are those where a fixed amount is deposited by

the customer for a certain period and interest on it is paid by the
bank every quarter. On the expiry of the term, the principal
amount is paid back to the customer or the deposit is renewed at
the request of the customer.
Reinvestment deposit are similar to the fix3d deposit with the
difference that the interest is payable every quarter is
compounded with the principle amount. In effect, the interest on a
reinvestment is paid along with the principle on maturity only.
Recurring deposit is the deposit where a certain amount says
1000 is deposited every month as a monthly installment for a
certain period ranging from 6 months to 5 years. The total
amount deposited over the period is paid with accrued interest
on maturity.
SCBs Deposit Products
Standard chartered bank offers the following deposit products in
the addition to above conventional deposits.
Cluster Deposit this is fixed or Reinvestment Deposit. The
amount deposited, say Rs. 10,000 each. The deposit thus offers a
flexibility of partial withdrawal in multiples of Rs.1000. the
penalty is charged only on the amount withdrawal.

Two in One Deposit this product has features of a fixed

reinvestment cluster deposit and a saving / current account. The
cluster deposit is linked to a savings account or current account.
Thus, the customer can withdraw partial amount from his cluster
by issuing a cheque or using ATM card. He can also fund either
of these accounts. However, a subsequent term deposit can made
with Rs. 10,000 or more. In case there more than one deposits in
this account, the last deposit is uplifted in case of withdrawal.
When ATM is used to withdraw from this account, the customer
can withdraw only 75% of his deposit or Rs. 25,000 /whichever is lower. Two-in- one account with savings account
can be opened with a minimum amount of Rs.60,000 /- while
that with a current account can be opened with minimum Rs.
1,10,000 /Easy save / easy current account these saving and current
account offer special benefits to customers. At customers
request the bank sends representative to the residence or work
place of the customer to complete the account opening
formalities. After opening the account, room service is provided
for picking up the cheque to be deposited in the customers
account from any place.
Similarly, customer can request to deliver cash to self up to
20,000 by debiting the account against a cheque to be handed
over at the time of receipt of the cash. In case the cash to be
delivered to the third person, maximum up to Rs. 10,000 /- is

delivered only at the residence after identification. Request to

deliver Demand Draft and pay orders issued by debiting the
account are also accepted.
While there no service charges for opening the account under
room service, other services provided is charged. The services
are provided only if the average balance maintained by the
customer in savings account is Rs. 10,000 and in current account
is Rs. 25000. these services are available in two-in-one account
only if the link savings account has the average balance of Rs.
5000 along with 50,000 in the deposit account. In case of twoin-one with current account the balance requirements are Rs.
100,000 in deposit account.
Business plus account - this is a current account which offers
following services to the customers. For this account the
monthly average balance should be Rs 50,000 or more.
Multicity Cheque books : These cheque are payable are payable
at par at Mumbai, Chennai, Calcutta and New Delhi branches.
This virtually facilitates the customer to conduct banking at any
of these cities.


National Clearing Speed Service : Cheque deposited for
National Clearing (drawn ay any of the four metro cities) by 4
p.m. are credited within four working days.

Free Draft and Pay Orders : Two drafts drawn in SCB

and two pay orders free of charge per day subject to a draft and
20 pay orders per quarter.

Other Free Services : Cheque book, Certificate of

Balance, FIRC and standing instructions for fixed payments.
Also if the balance is above Rs.1, 00,000, free stop payment and
Outward Clearing Cheque returns.

Quarterly consolidated statement : A consolidated

statement for all the deposits with bank.

Free demat account : No charges for opening a demat

account.

Special rates on advances : A discount on Professional

Loan and Finance against shares.

OBJECTIVES

The main objective of this project report is to make an analytical

study of Standard Chartered Bank.
It includes the following:
SWOT Analysis
Services
Banks Savings Account
Comparison of the savings account with other leading
banks of
India.

REASEARCH METHODOLOGY AND

LIMITATIONS
Data collection has been done from both sources primary as well
as secondary and also by questionnaire.
Primary data: by meeting various managers of the Standard
Chartered bank, Kotak Mahindra, ABN-AMRO bank, ICICI, and
HDFC.
Secondary data: from newspaper, magazines, Internet.
Questionnaire: questionnaire was filled by both account holder
of Standard Chartered bank as well as by non account holder of
Standard Chartered bank.
Limitations: in the meetings manager were not ready to give the
correct figure as regards turn-over of the company.

Chapter 1
STANDARD CHARTERED
A leading Multi National Bank
of the country

HISTORY OF STANDARD CHARTERED

Standard Chartered is the worlds leading emerging markets bank

headquartered in London. Its businesses however, have always
been overwhelmingly international. This is the summary of main
events in the history of standard chartered and some of the
organizations with which it merged.

The early years

Standard chartered is named after two banks which merged in
1969. They were originally known as the standard bank of British
South Africa and the chartered bank of India, Australia and china.
Of the two banks, the chartered bank is the older having been
founded in 1853 following the grant of a royal charter from
Queen Victoria. The moving force behind the chartered was a
Scott, James Wilson, who made his fortune in London making
hats. James Wilson went on to start the economists, still one of
the worlds pre-eminent publications. Nine years later, 1962, the
standard bank was founded by a group of businessmen led by
another Scott, John Paterson, who had immigrated to the Cape
Province in South Africa and had become a successful merchant.
Both banks were keen to capitalize on the huge expansion of
trade between Europe, Asia and Africa and to reap the handsome

profits to be made from financing that trade. The chartered bank

opened its first branch in 1858 in Chennai and Mumbai. A branch
opened in shanghai that summer beginning standard chartereds
unbroken presence in china. The following year the chartered
bank opened a branch in Hong Kong and an agency was opened
in Singapore, a privilege to continue to exercise up until the end
of the 19th century. Over the following decades both the standard
bank and the chartered bank printed bank notes in a variety of
countries including chin, south Africa, Zimbabwe, Malaysia and
even during the siege of marketing in south Africa. Today
standard chartered is still one of the three banks, which prints
Hong- Kongs bank notes.

EXPANSION IN AFRICA AND ASIA

The standard bank opened for business in Port Elizabeth, South

Africa in 1863. It pursued a policy of expansion and soon
amalgamated with several other banks including the commercial
bank of Port Elizabeth, the Colesberg bank, the British kaffarian
bank and the Fauresmith bank. The standard bank was prominent
in the financing and development of diamond fields of Kimberly
in 1867 and later extended its network further north to the new
town of Johannesburg when gold was discovered there in 1885.

Over time half the output of the second largest gold field in the
world passed through the standard bank on its way to London. In
1892 the standard bank opened for business in Zimbabwe and
expanded into Mozambique in 1894, Botswana in 1897, Malawi
in 1901, Zambia in 1906, Kenya, Zanzibar and the democratic
republic in Congo in 1911 and Uganda in 1912. Of these new
businesses, Botswana, Zanzibar and the D.R.C. proved the most
difficult and the branches soon closed. A branch in Botswana
opened again in 1934 but lasted only for a year and it was not
until 1950 that the bank reopened for business in Botswana. In
Asia the chartered bank expanded opening offices including
Myanmar in 1862, Pakistan and Indonesia in 1863, they
Philippines in 1872, Malaysia in 1875, Japan in 1880 and
Thailand in 1894. Some 34 years after the chartered bank
appointed an agent in Sri Lanka it opened a branch in 1892 to
take advantage of businesses from the tea and rubber industries.
During 1904 a branch opened in Vietnam. Both the chartered and
the standard bank opened offices in New York and Hamburger in
the early 1900s. The chartered bank gaining the first branch
license to be issued to a foreign bank in New York.

STANDARD CHARTERED IN THE 1990s

Even within this period of apparent retrenchment the standard

chartered expanded its network, re-opening in Vietnam in 1990,
Cambodia and Iran in 1992, Tanzania in 1993 and Myanmar in
1995. With opening of branches in Macau and Taiwan in 1983
and 1985 plus a representative office in Laos, the Standard
chartered now has office in every country in the Asia pacific
region with the exception of North Korea. In 1998 standard
chartered concluded the purchase of a controlling interest in
Banco exterior de Los Andes an Andean region bank involved in
trade finance. With this purchase standard chartered now offers
full banking services in Colombia, Peru and Venezuela. In 1999,
standard chartered acquire the global trade finance businesses of
union bank of Switzerland. This acquisition makes standard
chartered one of the leading clearers of the dollar payment in the
U.S.A. standard chartered also opened a new subsidiary, standard
chartered Nigeria Ltd. in Lagos, acquired 75% of equity of
Nakornthon bank Thailand and agreed terms to acquire 89% of
the share capital of metropolitan bank of Lebanon.

STANDARD CHARTERED TODAY

Today

standard chartered is the worlds leading emerging

markets bank employing 30,000 people in 500 offices in more
than 50 countries primarily in countries in Asia pacific region,
south Asia, Middle East, Africa and the Americas.
The new millennium has brought with it two of its largest
acquisition in the history of bank with the purchase of Grindlays
bank from the ANZ group and the acquisition of chase consumer
banking operations in Hong Kong in 2000.
These acquisitions demonstrate standard chartered firm
commitment to the emerging markets, where we have a strong
and established presence and where we see our future growth.

SWOT ANALYSIS
STRENGTH
Market position is strong
Aggressive foreign bank
Shareholders return has grown more than 7 times
Maintain a position as a leading Asian cash management
provider
Brand SCBs modern and dynamic look appeals to the
growing middle income earners
On of the most profitable MNC in India
Improved product proposition
Better geographic balances
Multi-cultural organization that offers opportunities to good
managers

WEAKNESS
HDFC, ICICI, ABM-AMBRO, KOTAK and HSBC are
dominant players
Has disadvantage due to last entry
Fewer locations as compared to other MNC banks
Service delivery reception is weak

OPPORTUNITIES
Branch expansion for rapid growth
Increase focus on value creation in whole banking
Improve shareholders return
Build market share in consumer banking as consumer
banking continues to offer highest potential for growth
Broadening of the demographic base
Tie ups with master card networks

 Integrated sales and service approach

Can offer a complete corporate package into under
proposed corporate relationship

THREATS
IDBI is pitching in quite aggressively
Citibank is expanding in new markets
Competitive products and offers from ICICI and HDFC
Proposed networking of all branches in next 6 months
Reduced business in OECD business

ANALYSIS

QUESTIONNAIRE
NAME:____________________________ CONTACT NO.:_______________________
Q1. OCCUPATION:
SERVICE

BUSINESS

STUDENT

OTHERS

Q2. APPROX. MONTHLY INCOME?

BELOW 10,000

10,000-20,000

ABOVE 20,000

Q3. WHICH TYPES OF ACCOUNT DO YOU HAVE?

SAVING CURRENT

ZERO-BALANCE

RECURRING DEPOSIT
Q4. DO YOU HAVE SAVING ACCOUNT IN ANY FOLLOWING BANKS?
STANDARD CHARTERED
ABN-AMRO

ICICI

KOTAK MAHINDRA

HDFC
OTHERS

Q5. REASONS, IF ANY, FOR PREFERENCE FOR OPERATING THE ACCOUNT IN

THE ABOVE BANKS?
AQR

ATM FACILITY

365 DAYS BANKING

SERVICES SATISFACTION
ANY OTHER

Q6. WOULD YOU LIKE TO OPEN A NEW ACCOUNT IN SOME OTHER BANK
OR CHANGE FROM CURRENT BANK?
YES

NO

Q7. IF YES, INDICATE YOUR PREFERENCE TO OPEN A NEW ACCOUNT.

STANDARD CHARTERED
ABN-AMRO

ICICI

KOTAK MAHINDRA

HDFC
OTHERS

SAMPLE SIZE
TOTAL NUMBER OF QUETIONNAIRE FILLED.
= 50.
AREA IN WHICH SURVEY WAS CONDUCTED.
= SOUTH DELHI
= EAST DELHI
= NCR.(NOIDA,GHAZIABAD)
NUMBER OF QUETIONNAIRE FILLED IN SOUTH
DELHI, EAST DELHI & NCR.
= SOUTH DELHI 10
= EAST DELHI 18
= NCR - 22.

Q1. OCCUPATION.

16
14
12
10

SOUTH DELHI
NCR
EAST DELHI

8
6
4
2
0

SERVICE

BUSINESS

STUDENT

OTHERS

Q3. WHICH TYPES OF ACCOUNT DO YOU HAVE ?

25

20
SOUTH DELHI
NCR
EAST DELHI

15

10

0
SAVING

CURRENT

ZERO- BALANCE

RECURRING
DEPOSIT

Q2. APPROX. MONTHLY INCOME ?

18

16

14

12

10

SOUTH DELHI
NCR
EAST DELHI

0
BELOW 10,000

10,000-20,000

ABOVE 20,000

Q4. DO YOU HAVE SAVING ACCOUNT IN ANY FOLLOWING

BANKS ?

20
18
16
14

SOUTH DELHI
NCR
EAST DELHI

12
10
8
6
4
2
0

STANDARD
CHARTERED

ICICI

HDFC

ABN-AMRO

KOTAK
MAHINDRA

OTHERS

Q5. REASONS, IF ANY FOR PREFERENCE FOR OPERATING THE

ACCOUNT IN THE ABOVE BANKS ?

20
18
16
14
12
SOUTH DELHI
NCR
EAST DELHI

10
8
6
4
2
0

AQB

ATM FACILITY

SERVICE
SATISFACTION

365 DAYS
BANKING

ANY OTHER

Q6. WOULD YOU LIKE TO OPEN A NEW ACCOUNT IN SOME OTHER

BANK OR CHANGE FROM CURRENT BANK?

18
16
14
12
10
YES
NO

8
6
4
2
0
SOUTH
DELHI

NCR

EAST DELHI

Q7. IF YES, INDICATE YOUR PREFERENCE TO OPEN A NEW

ACCOUNT.

Series1

STANDARD
CHARTERED

ICICI

HDFC

ABN AMRO

KOTAK
MAHINDRA

OTHERS

Chapter 2
SERVICES

Services provided by
standard chartered
Through the network of over 500 offices in more than 50
countries, standard chartered offers personal financial solution
relevant to you as an individual, standard chartered treasure
building a relationship with the customer, developing an
understanding of customers changing financial needs at different
stages of your life. Their long heritage of nearly 150 years has
enabled them to change with time, offering quality products by
means that are convenient to customer.

Standard chartered offer includes:

Personal finance.
Credit cards.
Priority banking.
Investment advisory services.
Personal investments.
Insurance.
Deposits and Retail services
Retail FX products.

1. PERSONAL FINANCE.
Mortgages
In many of the markets where standard chartered operate,
especially in key markets of Hong Kong, Singapore, Malaysia,
they are reported to be the market leader for mortgages. Their
experienced and dedicated teams will guide the individual in
every single step to enable him a smooth and hassie-free
experience, offering him rates and repayment packages most
suitable, start by trying our instant approval service.

Unique features:
Low interest rates, option of flat or reducing interest rates.
Low EMI (equated monthly installments).
No hidden costs like processing charge. Everything is
done up front.
Quick approval and realization.
Tax benefits.

 No unfair collateral demands.

A simple mortgage process.

Personal loans
Standard Chartered bank helps the customer to de in control of his/her
own finances. Personal loans, without any guarantees or collaterals, are
available to customer to meet specific credit needs. Choose installment
loan or Revolving loan, whatever suits best. Whether planning a vacation,
re-decorating home, paying for childs college education, or simply wish
to have a standby line of credit for unforeseen expenses, Standard
Chartered Banks personal loans can help fulfill the dreams.

Personal loan is specially designed to get the money need in time,

without having to answer unnecessary questions, and without any
collateral or mortgages.

Unique features:
Choose the repayment plan most convenient, ranging from
a compact 12-months period to a comfortable 36-month
span.
Free to use the money for renovating house or meeting
some unexpected expenses etc.

 No collateral or security.
Quick and easy processing.

2. CREDIT CARDS
Standard Chartered visa and MasterCard credit cards
Standard Chartered credit cards provide financial flexibility,
worldwide acceptance, and round- the- clock convenience.

Benefits:
Welcomed at the largest number of merchant outlets
across the world.
Revolving credit facility, allowing repaying card
outstanding over time, at a convenience.
Cash withdrawal in local currency at Visa and
MasterCard linked ATMs across the world.
Platinum, Gold or Classic cards to suit lifestyle and
needs.
Smart credit cards with special privileges and security.
Attractive rewards programs.

 Affinity and co branded credit cards that give additional

benefits from our partners.
World-class service assistance and 24-hour customer
help line.

3. PRIORITY BANKING
Experience new Standards in banking. And lead a life of privilege
and preferred financial solutions tailored perfectly for you with
priority banking from Standard Chartered.
Designed specially for those who appreciate only finest things in
life, priority banking offers the very highest levels of personalized
banking to match unique status.
By embracing a holistic approach to financial well being and
commitment to personal Wealth Management with a full range of
innovative products and services, a customer will find banking
with a reassuring and secure experience.
Bank is committed to helping a plan, build and protect wealth by
offering individual attention as well as international and
investment opportunities to meet current and future needs.
Standard Chartered bank priority banking is created specifically
for a chosen few individuals, who will settle for nothing but the
best and demand the highest Standards of services in all your
banking relationships.

Unique features:
Personalized priority card will give instant recognition
of priority status at all branches of Standard Chartered
bank, worldwide.
A dedicated customer relationship Manager trained to
understand specific financial needs and help to manage
assets at home and abroad. It is as personalized as can
be.
Preferential pricing on our various products.
Entitled to exclusive benefits.
A complimentary pre-approved Gold Standard credit
card.
Special foreign exchange rates.
Special invitations to exclusive events.
Many account facilities, which are absolutely free of charge.

4. INVESTMENT ADVISORY SERVICES

The Standard Chartered investment advisory services is
comprehensive process that assists in planning for future. With
this service, they can help to review financial goals, conduct a
financial health check, evaluate risk profile and asset allocation
plan to realize financial aspirations.

5. PERSONAL INVESTMENTS
Standard Chartered is the leading independent distributor of unit
trusts and mutual funds in Asia. Because they dont actually
manage their own investment funds, they are absolutely objective
in fund evaluation process. Bringing unmatched around the
world, it can be assured of different investment options and a
wealth of informative and relevant updates.
With trained investment services consultants from countries
around the globe, they can help to make the right investment
decisions. Using a unique risk evaluation to gauge the level of
risk customer can be comfortable with, coupled with a proprietary
fund evaluation process to identify funds, assess risks and
shortlist top-performing funds; customer can be ensured of a
personalized investment portfolio catered to needs.

Standard Chartered Bank investment services puts a whole new

whole new world of possibilities within the reach of people who
would like to achieve their financial goals but have many other
demands on their time.

Unique features:
A one-stop offering a wide range of investment options
to grow your wealth.
Available across 8 cities.
Trained investment services counselors.
Sophisticated research franchise.
Impartial and unbiased analysis on options best suited.
Tailor made investment plans suited to risk taking
ability.

6. INSURANCE
Standard Chartered recognizes the things important to customer
and his family. They are dedicated to protecting the customer, his
family, and his hard earned assets and even his future earning
giving him the assurance he needs.
Their strategic alliance with prudential and CGU insurance puts
us in a very strong position to provide for life and General
Insurance needs. With a comprehensive range of products,
Standard Chartered is set to protect the world.

7. DEPOSITS AND RETAIL SERVICES

Deposits
Standard Chartered offers a wide array of deposit products in both
local and foreign currencies to help to earn competitive interest
rates. Their international network offers an extra convenience
while abroad. In some countries, they offer premium interest
savings plans like Higher Education Funds to turn the dreams into
reality.

Retail services
Standard Chartered offers a comprehensive range of retail
services in many countries. These includes:
Automated banking services.
Demand drafts.
Foreign exchange services.
Local and foreign currency cheques.
Safe deposit boxes.
Telegraphic transfers.
Travelers cheques.

8. RETAIL FX PRODUCTS
Standard Chartered is now offering valuable customers an easy
and flexible way to invest in foreign currencies. They provide
high flexibility to enable sophisticated investors to capitalize on
opportunities in the currency markets.

Some of the Retail FX products include:

FX Margin Trading.
Currency Trading.
Premium Currency Deposit.
Principle Protected Currency Deposit.

ADDITIONAL SERVICES
1. INTERNET BANKING
Youre banking needs now taken care of at the click of a mouse.
With secure Internet ID and Password, a customer can login and
take care of his/her banking and credit card needs at his/her
convenience and time. No more queues, no more waiting.

2. PHONE BANKING
As part of commitment to meeting all needs, Standard Chartered
offer Phone Banking A service that enables you to access a
wealth of financial information, 24 hours a day, 7 days a week.

Through Phone Banking:

Check your account balance.
Get details about specific transactions.
Inquire about the status of a particular cheque.
Order demand drafts.
Transfer funds amongst your linked accounts.
Get information on deposit rates, lending rates, exchange rates
and bank charges.
Access information an any of our products and services.
Call room services to open your account.
Make complaints and suggestions.

3. MOBILE AND E-MAIL ALERTS

Standard Chartered always try and make life simple. Mobile and
E-mail Alerts service is designed just for that.

4. SMART FILL DEBIT CARD

Smart fill Debit card, launched in association with Bharat
Petroleum, will help to save on fuel purchases and even gets you
free fuel.
Unique features:
Earn reward points every time you use the card to make
purchases anywhere, which you can then redeem for fuel at
select Bharat Petroleum outlets.
When the card is use to make purchases at select Bharat
Petroleum outlets, the customer dont have to pay the 2.5%
surcharge levied on most credit or debit cards.
Smart fill debit card is globally valid. It gives access to 12
millions merchant establishments worldwide and over 55,000
in India.
A customer can access over 3500 ATMs in India for FREE*
and over 750,000 ATMs worldwide through the Visa ATM
network.

 The card gets an exclusive discount of 5% at select In & Out

stores at Bharat Petroleum outlets, besides benefits at leading
retail outlets and restaurant.

5. ATM
Standard Chartered ATMs give the freedom to conduct most of
the banking transactions 24 hours a day, 365 days a year.
The ATM card is and absolutely free. There are no transaction
charges on the use of the card.
Whats more, use ATM card at any of the 70 ATM centers across
the country.

6. CREDIT CARD HELP-LINE

As part of commitment to meeting all needs, Standard Chartered
offer the facility of calling them over the phone to access a wealth
of information on credit cards, 24 hours a day, 7 days a week.

7. ELECTRONIC CLEARING SYSTEM

Standard Chartered introduces ECS (Electronic Clearing system),
an innovation facility for busy people. With this facility, card bill
amount automatically gets debited from your saving bank
account.
So that customer doesnt have to worry about last minute
payment rush, since this entire process happens through the
Reserve Bank of India electronic clearing mechanism, customer
can enjoy the advantages of ECS.

8. FAX BANKING
Its the most efficient way to stay on top of the business finance.
Every day, Standard Chartered fax a report of all transaction
made the previous day, customer will still receive his/her regular
monthly statements.

Chapter 3
ACCOUNTS

MAINTAINING ACCOUNTS WITH STANDARD

CHARTERED

DEPOSITS

DEMAND DEPOSITS

TIME DEPOSITS

SAVINGS A/C

CURRENT A/C

AXCESS PLUS A/C

SUPER VALUE A/C

FIXED DEPOSITS

PARIVAAR A/C

SARAL A/C

DEMAND DEPOSITS

SAVINGS ACCOUNT
Standard chartered introduces aXcess plus a revolutionary
savings account that provides with unparallel access to money. An
account primarily opened for and operated by individuals,
wherein the numbers of transactions are few and which give the
customer liquidity with the facility to earn some interest on the
residual balance.
With the aXcess plus account the customer can now aXcess cash
at over 1800 ATMs in India to free and at over 6,50,000 ATM
worldwide through the visa network. Besides he can use his
account to shop for goods and services at over 25,000 outlets in
India and at 10 million outlets worldwide, without ever handling
to carry cash.
The aXcess Plus account provides with a globally valid debit card
that provides these and a host of other exciting benefits.

Unique features
There are several unique features about the standard chartered
banks aXcess Plus account, each designed to provide the most
convenient banking experience can ever get!
Free aXcess to cash at over 1800 ATMs in 35 cities in
India
Globally valid debit card
The debit can be used to make purchase at over 25,000
merchant outlets in India and at over 10 million outlets
worldwide.
Phone banking, internet banking, Multicity banking and
365 days branches, extended banking hours, lockers facility
and doorstep banking.
Unique free insurance benefits lost card insurance,
purchase protection and personal accident cover.

Exciting usage benefits such as travel cash back discount

on air fair, rasoi ongoing privileges in restaurants,
fabdeals special privileges for shopping at select merchant
outlets etc.

2 in -1 Account
A unique account that offers you double advantage letting you
earn the high interest rate of a fixed deposit while you enjoy the
flexibility of a savings and current account.
Unique features:
Earn fixed deposit interest rates
Enjoy the flexibility of a saving or a current account
Free personalized cheque book and ATM card
Flexibility of withdrawing money wherever you need it
Deposit more money in your account to earn higher rate of
interest by simply filling a subsequent deposit slip
Phone banking for current account related information at
your fingertips.

2-in-1 Account interest rates

Tenor

Rate of interest (% p.a.)

15 days 29 days

3.75%

30 days less than 46 days

4.00%

46 days less than 2 months

4.00%

2 months less than 3 months

4.00%

3 months less than 6 months

4.00%

6 months less than 9 months

4.25%

9 months less than 12 months

4.25%

12 months less than 18 months

4.25%

18 months less than 24 months

4.25%

24 months less than 36 months

4.25%

36 months less than 48 months

4.50%

48 months less than 60 months

4.50%

60 months

4.50%

Above interest rates are offered by standard chartered bank and

are subject to change without prior notice. Deposits of Rs. 15 lakh
and above may be opened for tenors starting 7 days.
Procedure:
On opening a 2-in-1 account two accounts are opened an FD
and a transaction account .The FD earns the high interest rates
and the transaction account is used as a normal savings or current
account.
In case you need to withdraw amounts in excess of what is
available in your transaction account we will break your deposit
for the exact amount you require. The rest of the deposit
continues earning the original high interest on the amount
withdrawn you will lose only 1% of the interest rate you are
eligible for.
PARIVAAR ACCOUNT
A unique wealth management solution that offers the entire
family flexibility and tools for wealth accumulation and
preservation.

Unique features:

 A family can maintain individuals savings account with

the benefit of clubbing balances in the grouped accounts
Attractively priced health insurance options to protect
against unforeseen events
Free accident hospitalization cover of Rs. 50,000 for the
primary account holder
Free access to accounts through 5500 ATMs in the country at all
branches of the bank and through phone banking and internet
banking
Option of systematic Investment Plan (SIP) the best known long
term wealth building tools that allows customers to invest a
fixed amount of money every month in specific mutual fund.
This comes with a direct debit facility and avoids the need to
remember dates and write cheque every month
Globally valid ATM-cum-debit card can be used at 55000
merchant outlets in India and 12 million outlets worldwide
Up to 4 free cash withdrawals per account every month at other
banks ATMs in India through the visa ATM network. Unlimited
free transaction at all SCBs ATM.

CURRENT ACCOUNT

An account opened and operated primarily by corporate for

commercial use wherein the numbers of transactions are much
higher than a normal savings account.
Unique features:
High liquidity
Unlimited transaction
Zero interest
Any branch banking
TERM DEPOSITS
A term deposit is a deposit held for a contracted period of time
and a contracted rate of interest. The rate of interest for term
deposits is higher than the applicable for a normal savings
account and penal rates of interest is applicable if the deposit is
withdrawn before the contracted period.

Term deposit rates:

Tenor

Rate of interest (% p.a.)

15 days 29 days

3.75%

30 days less than 46 days

4.00%

46 days less than 2 months

4.00%

2 months less than 3 months

4.00%

3 months less than 6 months

4.00%

6 months less than 9 months

4.25%

9 months less than 12 months

4.25%

12 months less than 18 months

4.25%

18 months less than 24 months

4.25%

24 months less than 36 months

4.25%

36 months less than 48 months

4.50%

48 months less than 60 months

4.50%

60 months

4.50%

CONCLUSIONS

CONCLUSION
With years of banking experience, Standard Chartered is
undoubtedly in a strong position to help growing business sail
through the complexities they may face.
Standard Chartered Bank offers one of the widest range of
banking products and services in the market today. Managing a
growing business demands most of your time and energy. That is
why working with the right bank can help ones business sail
more smoothly and Standard Chartered Bank helps in doing that
as it understands todays business requirements.
The bank provides the right kind of services and accounts at the
right time and according to the need of market.
The expertise of Standard Chartered with over 150 years
experience, global network of 500 offices in 56 countries making
it one of the leading providers of treasury financial services.
As the largest independent distributor of third party funds,
Standard Chartered gives investors choice, unbiased evaluation of
funds and a portfolio management account that matches your risk
profile and investment goals.

Not only this, the bank provides the widest range of foreign
currencies for your investment needs plus other products such as
housing loan, insurance and unit trusts.
Standard Chartered Bank well developed remote channels for
your banking convenience through our 24-hour phone banking
and internet banking.
Foreign banks in India are subject to the same regulations as
scheduled banks. Currently about 25 foreign banks are licensed to
operate in India. Foreign bank branches in India finance trade
through their global networks.
All commercial banks including Standard Chartered face stiff
restriction on the use of both their assets and liabilities. Forty
percent of loan must be directed to priority sectors and the high
liquidity ratio and cash reserve requirements severely limit the
availability of deposits for lending. Since July 1993, foreign
banks like Standard Chartered have been require to make 32
percent of their loans to the priority sector. Within the target of 32
percent, two sub targets for loans to the small scale sectors
(minimum of 10 percent) and exports (minimum of 12 percent)
have been fixed.
Foreign banks, however, are not require to open branches in rural
areas, or to make loans to the agricultural sector.

RECOMMENDATIONS

RECOMMENDATIONS
1. STRONG NEEDS OF BRAND BUILDING
The bank needs to make a lot of marketing efforts. The level of
recognition that may be desired by any brand has not been
achieved by Standard Chartered Bank. A lot of noise is made
whenever a child is born and as long as that noise is not made the
doctors are not sure about life of that child. Same is the case in
marketing. Whenever a new branch comes into existence it is
necessary that they announce there birth. Here comes the prelaunch exercises, and in similar in the case after the birth, the
name has to be taken again. Boast about yourself , about the
strong points that you have over and above your competitors. Pull
the customers towards you. As said earlier it is a relationship of
trust and this trust can be generated through the better and better
performance of the bank. Now as working with the bank for some
time the fact have come out that they believe in low costing and
want to keep low profile. So better way of marketing can be
sought which are low of cost. These are discussed further.

Promotional strategies
Press publicity:
Paper inserts
Advertisements in newspaper (local and national)
Interest cards distribution
Mailers/personal invitations to selective section of society
Leaflets

Outdoor publicity
Banners in commercial areas and prime sites
Air balloons at shopping complexes
Bus stand shelters
Off site ATM for developing business
Advertisements on dividers and railings

Media
Local channel advertisements (cable TV scrolls)
Advertisements in news and business channels

Face to face
Through personal interaction of marketing executives.
Meeting
Detailing about schemes and updating them from time
to time
Events sponsoring in local clubs and social gathering
Road shows
Contacting senior citizens in parks in morning and
evening
Contacting office goers in the morning and evening at
stop lights by distribution of interest cards
Advertisements strategies segmented according to the
target customer

Senior citizens, housewives , students, service class

Personal mailers
Contacting at parks during morning and evening walk
Contacting at stop lights
Road shows at market side
Cable TV advertisements during prime time

 Stick on the newspaper

Leaflet on the wiper of the vehicles in the parking slots

Educational bodies
Sponsoring events in schools and colleges
Meeting the top management for opening salary account
and fee payment system of the students

Local clubs like young clubs, laughter club, senior

citizen club, ladies club, etc
Event sponsoring
Temporary banners
Advertisements in club magazines
Opening of extension counters (in case of large clubs)

Commercial places and market establishment

Cold calling
Personal visits of the executives

2. NEED A CHANGE IN MARKETING FOCUS

The marketing team of the branch has until now focused on
selling of their most competitive product, which are there fixed
deposits. The rates of interest, which they provide on fixed
deposits, are really competitive and highest in the market. But
this strategy could not be held for a longer period of time as in
the long run it would become liability to the bank to pay such
high rate of interest and it would lower the revenues of the
branch. Even the survey conducted proved that the fastest
selling product is savings account amongst the consumer. With
a network that is good enough this bank can make efforts to
increase the market share in the area where the competition is
so tough. This needs a brain storming from the top
management in the branch as to how about fixing the targets in
each category of accounts.

Solid network required to develop the business

further
If we see the results of the survey, it is evident that people prefer
strong network system to make their banking life as comfortable
and reachable as possible. For Standard

Chartered bank to enjoy a good customer base, they should make

efforts towards developing more and more ATM in the cities and
extension counters to facilitate better and fast service. Updating
of technology from time to time is very necessary. Standard
Chartered bank was the very first bank to start few of the very
good services like internet banking, bringing about new services
to attract more and more consumers should carry on this tradition
further.

Corrective positioning of Standard Chartered bank

Standard Chartered bank is known for its corporate operations.
Very big names in the corporate world have their account with the
bank. For the past so many years it has been catering to these
clients only and has generated an image of being a corporate
bank. The product extension into the retail segment need separate
focus and separate positioning in the market. The bank cannot
carry on its old image for both segment of market. For this a
distinctive advertising campaign has to be developed (refer to the
promotional activities stated earlier) to reposition the brand in
potential consumers mind. It should be noted that both the type
of clients differ from each other in their true nature. One is a very
low profile relationship, which talks

about masses. This type of client requires assurance, trust,

information and support. This is retail banking. While on the
other hand the second type of relationship is stronger, which is
the corporate client that requires different setup all together.

MAKE THE BRANCH SELF-INFORMATIVE

The branch should be decorated in the manner, which would
provide maximum information to the customer without any
difficulty. All the schemes and product, all the service charges,
days and time of transaction should be printed in a beautiful
manner and hanged on the walls of
the branch where customer can see with ease. This was one of the
things, which was found to be absent in this branch. By doing so
customers would feel more attached and it will be converted in
higher number of accounts.
SERVICE LIKE PHONE BANKING AND ATM SHOULD
BE ENCOURAGED.

BIBLIOGRAPHY

BIBLIOGRAPHY
www.banknetindia.com
www.rbi.org.in
www.economictimes.indiatimes.com
www.indianfoline.com
www.finance.indiamart.com/investment_in_india/banks
www.standard.chartered.broacher.and.mannuals
www.finance.indiamart.com/investment_in_india/banks.html
www.indianfoline.com/nevi/bank.html
www.finanace.indiamart.com/investment_in_india/standard
_chartered_bank.html
www.abn_amrobank.com
www.hdfc.com
www.icicibank.com
www.standardchartered.com
www.standardchartered.com/in
http://economic.indiatimes.com/banking/bn11299.html

END OF PROJECT