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Assignment of Customer Relationship Management

Assignment of Customer Relationship Management

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touch pionts of IDBI bank
touch pionts of IDBI bank

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Published by: sumitmaxgupta on Jan 27, 2011
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04/09/2013

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ASSIGNMENT OF CUSTOMER RELATIONSHIP MANAGEMENT

TOPIC- TOUCH POINTS OF IDBI BANK

SUBMITTED TO MR. RAJAN GIRDHAR LECT. (LPU)

SUBMITTED BY SUMIT KUMAR RR1814A17 SEC-R1814 REG-10805838

IDBI BANK INTRODUCTION:
The Industrial Development Bank of India Limited, now more popularly known as IDBI Bank, was established as a wholly-owned subsidiary of Reserve Bank of India. The foundation of the bank was laid down under an Act of Parliament, in July 1964. The main aim behind the setting up of IDBI was to provide credit and other facilities for the Indian industry, which was still in the initial stages of growth and development. In February 1976, the ownership of IDBI was transferred to Government of India. After the transfer of its ownership, IDBI became the main institution, through which the institutes engaged in financing, promoting and developing industry were to be coordinated. In January 1992, IDBI accessed domestic retail debt market for the first time, with innovative Deep Discount Bonds, and registered path-breaking success.

CRM OF IDBI BANK:
IDBI BANK GIVIES INFORMATION: You can get information on interest rates, common fees and charges through any one of the following: Looking at the notices in our branches; phoning our branches or help-lines; Looking on our website; Asking our help desk; Referring to the service guide.

IDBI BANK HELPS YOU TO UNDERSTAND HOW THERE FINANCIAL PRODUCTS AND SERVICES WORK BY:

1.IDBI Bank provides you information about them in any one or more of the following 2.languages: Hindi, English or the appropriate local language. 3.Ensuring that there advertising and promotional literature is clear and not misleading. 4.Ensuring that you are given clear information about their products and services, the terms and conditions and the interest rates/service charges, which apply to them. 5.IDBI Bank provides you information on what are the benefits to you, 6.How you can avail of the benefits, and whom you can contact for addressing you queries. 7.Advise you what information/documentation we need from you

IDBI BANK HELP YOU USE YOUR ACCOUNT OR SERVICE BY: Provides you a Relationship manager or personal banker which helps you in assisting your transactions. Providing you regular appropriate updates. Keeping you informed about changes in the interest rates, charges or terms and conditions.

BEFORE YOU BECOME A CUSTOMER IDBI BANK WILL: Give you clear information explaining the key features of the services and products you tell us you are interested in; Give you information on any type of products and services which we offer and that may suit your needs; Tell you if we offer products and services in more than one and tell you how to use them; Tell you what information we need from you to prove your identity and address

TOUCH POINTS OF IDBI BANK: 1. CUSTOMER CARE NUMBERS:- Through various customer care numbers
customer gets in touch with the bank. 24 x 7 Toll-free Nos.: 1800-22-1070 (MTNL / BSNL) 1800-200-1947 (Mobile/Other)

2. INTERNET BANKING: In today's digital world, Internet banking assumes a
special significance. Realising that the default access to the banking information in the near future would be only through the Internet, IDBI Bank have made available a globally benchmarked Internet Banking facility.

3. One¶s relationship with one¶s bank is one of the most difficult relationships to change.
And now with automatic bill payments, EMIs, or equated monthly instalments, on autopilot and systematic investment plans linked to IDBI bank accounts.

4. AUTOMATED TELLER MACHINES(ATM): The bank provides a large number of
ATMs through which a customer gets in contact with the bank.

THESE TOUCH POINTS HELPS THE CUSTOMERS TO GET IN CONTACT WITH THE BANK EASILY AND QUICKLY.

FINDINGS: 
The officials try to make best relation with the customers.  Staff member gives regular updates to their customers and information of the product and their services.  The registers and files are systematically maintained on a daily basis and in an organized manner.  Officials employed find themselves in much burden as there are very less number of sales executives.  Most of the respondents are having more than two accounts and holds more than two products with IDBI Bank.  Bank has shown better utilization of cash balance of customer by cross selling other products.  According to respondents feedback it is observed that bank is in need to increase their branches in Bilaspur region as well as pay concern to increase their ATM network.  With the help of research it has been found that most of them prefer brand name and service facilities and some of them are influenced by existing customer  Greater retention of customers is being needed as they are offering various products and services. This enables a great understanding of what customers may expect from the bank and what to offer to them. This leads to defining where each customer is in his relationship with the bank so that cross-selling can be done

CONCLUSION:
IDBI Bank has always sought profitable customers and generated profit from them and taken steps by converting the non profitable customer to profitable customers.

Customers can be pulled into profitability band when the customer is satisfied with the product and services which he is using. Customer satisfaction plays an important role as customers are satisfied they will look for some other product. At this state Relationship Manager is very important who can suggest the customer which product to use with reference to his need. They must maintain mutual relationship between the relationship manager and customer. CRM lead to better understanding of all aspects of customer behaviour regarding issues and benefits offered by a company and helps differentiate itself from others.

SUGGESTIONS AND RECOMMENDATIONS 
Continuous interaction with the customers is necessary in order to continue with relationship Building activities for long term prospective.  The bank should come up with more branches in other locations in Bilaspur city.  The bank should open more ATM networks.  To increase the number of customers IDBI Bank should also offer some products for small business. (For example- Zero balance savings and current account.)  It is seen that most of the customers are not aware of products and services offered by IDBI Bank. Thus IDBI Bank should pay some attention on Advertisement.  IDBI Bank has very less sales force than other banks, this is a reason that customers have lack of attention towards IDBI Bank. This part can be improved by increasing the sales force. Account opening process in IDBI Bank is comparatively complicated and Time-consuming in case of current accounts IDBI Bank should consider time factor as it is very important REFRANCES: 1. http://www.bangaloreonline.in/profile/economy/IDBI.asp 2. http://www.livemint.com/2010/05/23224709/Bank-takeovers-and-how-they-af.html 3. http://www.idbi.com/internetbanking.asp

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