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Training Undertaken at
Titled “CRITICAL APPRAISAL OF PRODUCT & SERVICES”
Submitted in partial fulfillment for the Award of degree of
Master of Business Administration
International School of Informatics and Management
Submitted By: ADITI GUPTA MBA III Semester
Submitted to:Dr.MANJU NAIR
Summer training in any organization is an attempt to provide student a practical input & Explosure to the real world situation in which he has to work in future. My training in Axis Bank, Jaipur was an attempt in this regard. The project work provided to me was “Critical Appraisal of product & Services offered by Axis Bank with emphasis on deposit mix.” Axis Bank is today one of the most competitive & profitable banking franchise in India as can be clearly depicted by the analysis of its portfolio of banking services. The bank has launched several for various categories of consumers to enhance its deposit mix. This project deals with this aspect especially with the saving account features. The report has been prepaid and is presented under various heading as introduction, organization profile, research objective & scope of research project etc.
I would like to take this opportunity to express my gratitude towards all those who have, in various ways, helped me in the completion of this project. I also express my sincere thanks to my project guide, Mr. SAMEER HANDA, for guiding me right from the inception till the successful completion of the project. I sincerely acknowledge her for extending her valuable guidance, support for literature, critical review of project and the report and the above all the moral support she provided me with throughout all state of report preparation.
S.NO. PARTICULARS PAGE NO. (6-12) (13- 50) (51-55)
INTRODUCTION To The Industry INTRODUCTION TO the Organization RESEARCH METHODOLOGY 3.1 3.2
3.3 3.4 3.5 3.6 3.7
Title of the study Duration of the product Objective of the study Type of Research Sample size and method of selecting ample Scope of study Limitation of study (56-60) (61-71) (72-73) (74-75) (76-78)
4 5 6 7 8
FACT & FINDINGS ANALYSIS & INTERPRETATION SWOT CONCLUSION RECOMMENDATION & SUGGESTION
9 10 APPENDIX BIBLIOGRAPHIES (79-82) (83) 5 .
INTODUCTION TO THE INDUSTRY 6 .
They are as mentioned below: · PHASE I .Early phase from 1786 to 1969 of Indian Banks · PHASE II . This is one of the main reasons of India's growth process. Indian banking system has reached even to the remote corners of the country. In fact. The banking system of India should not only be hassle free but it should be able to meet new challenges posed by the technology and any other external and internal factors.BANKING IN INDIA: Without a sound and effective banking system in India it cannot have a healthy economy. It is no longer confined to only metropolitans or cosmopolitans in India. The most striking is its extensive reach. though conservative. the journey of Indian Banking System can be segregated into three distinct phases.Indian Financial & Banking Sector Reforms after 1991.Nationalization of Indian Banks and up to 1991 · PHASE III . For the past three decades India's banking system has several outstanding achievements to its credit. was established in 1786. HISTORY: The first bank in India. 7 . From 1786 till today.
mostly small. mostly Europeans shareholders. Abreast of it the savings bank facility provided by the Postal department was comparatively safer. During the first phase the growth was very slow and banks also experienced periodic failures between 1913 and 1948.PHASE I: The General Bank of India was set up in the year 1786. These three banks were amalgamated in 1920 and Imperial Bank of India was established which started as private shareholders banks. Bank of Bombay(1840) and Bank of Madras (1843) as independent units and called it Presidency Banks. the Government of India came up with The Banking Companies Act. 1949 which was later changed to Banking Regulation Act 1949 as per amending Act of 1965 (Act No. The East India Company established • • • Bank of Bengal (1809). Next came Bank of Hindustan and Bengal Bank. As an aftermath deposit mobilization was slow. 8 . funds were largely given to the traders. To streamline the functioning and activities of commercial banks. Reserve Bank of India was vested with extensive powers for the supervision of banking in India as the Central Banking Authority. During those day’s public has lesser confidence in the banks. There were approximately 1100 banks.23 of 1965). Moreover.
The following are the steps taken by the Government of India to Regulate Banking Institutions in the Country: · 1949: Enactment of Banking Regulation Act.PHASE II: Government took major steps in this Indian Banking Sector Reform after independence. · 1959: Nationalization of SBI subsidiaries.Banking in the sunshine of Government ownership gave the public implicit faith and immense confidence about the sustainability of these institutions.000%. · 1961: Insurance cover extended to deposits. In 1955. Second phase of nationalization Indian Banking Sector Reform was carried out in 1980 with seven more banks. After the nationalization of banks. · 1971: Creation of credit guarantee corporation. · 1980: Nationalization of seven banks with deposits over 200 crores. · 1955: Nationalization of State Bank of India. · 1969: Nationalization of 14 major banks. · 1975: Creation of regional rural banks. This step brought 80% of the banking segment in India under Government ownership. 9 . it nationalized Imperial Bank of India with extensive banking facilities on a large scale especially in rural and semi-urban areas. the branches of the public sector bank India raised to approximately 800% in deposits and advances took a huge jump by 11.
the Foreign Reserves are high. The financial system of India has shown a great deal of resilience. Phone banking and net banking is introduced. Efforts are being put to give a satisfactory service to customers. a committee was set up by his name which worked for the liberalization of banking practices. 10 .PHASE III This phase has introduced many more products and facilities in the banking sector in its reforms measure. under the chairmanship of M Narasimham. The entire system became more convenient and swift. and banks and their customers have limited foreign exchange exposure. It is sheltered from any crisis triggered by any external macroeconomics shock as other East Asian Countries suffered. the capital account is not yet fully convertible. This is all due to a flexible exchange rate regime. The country is flooded with foreign banks and their ATM stations. In 1991.
Before 1969. SBI was nationalized in 1955 under the SBI Act of 1955. The major objective behind nationalization was to spread banking infrastructure in rural areas and make available cheap finance to Indian farmers. Fourteen banks were nationalized in 1969. State of India (SBI) was only public sector bank in India. The nationalization of banks in India took place in 1969 by Mrs.2 NATIONALIZED BANKS IN IDNA Banking System in India is dominated by nationalized banks. The second phase of nationalization of Indian banks took place in the year 1980. Indira Gandhi the then prime minister.1. Seven more banks were nationalized with deposits over 200 crores List of Public Sector Banks in India is as follows: Allahabad Bank Andhra Bank Bank of Baroda Bank of India Bank of Maharashtra Canara Bank Central Bank of India Corporation Bank Dena Bank Indian Bank Indian Overseas Bank Oriental Bank of Commerce Punjab and Sind Bank Punjab National Bank State Bank of Bikaner and Jaipur 11 .
3 PRIVATE BANKS All the banks in India were earlier private banks. State Bank of Hyderabad State Bank of India (SBI) State Bank of Indore State Bank of Mysore State Bank of Patiala State Bank of Saurashtra State Bank of Travancore Syndicate Bank UCO Bank Union Bank of India United Bank of India s Vijaya Bank 1. In the process they have jolted public sector banks out of complacency and forced them to become more competitive. Private Banks have played a major role in the development of Indian banking industry. They were founded in the pre-independence era to cater to the banking needs of the people. They have made banking more efficient and customer friendly. Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive an ‘In principle’ approval from the Reserve Bank of India (RBI) to set up a bank in the private sector. But after nationalization of banks in 1969 public sector banks came to occupy dominant role in the banking structure. Private sector banking in India received a fillip in 1994 when Reserve Bank of India encouraged setting up to private banks as part of its policy of liberalization of the Indian Banking Industry. 12 .
Major Private Banks of India Bank of Rajasthan Bharat Overseas Bank Axis Bank Catholic Syrian Bank Centurion Bank of Punjab Dhanalakshmi Bank Federal Bank HDFC Bank ICICI Bank IDBI Bank Indusind Bank ING Vysya Bank Jammu & Kashmir Bank Karnataka Bank Karur Vysya Bank Kotak Mahindra Bank SBI Commercial and International Bank South Indian Bank United Western Bank UTI Bank YES Bank 13 .
INTODUCTION TO THE ORGANIZATION 14 .
.7 million debit cards.COMPANY DESCRIPTION AXIS BANK Axis Bank India. The Oriental Insurance Corporation and United Insurance Company Ltd.17 Crores. By the end of December 2004. the first bank to begin operations as new private banks in 1994 after the Government of India allowed new private banks to be established. Axis Bank was jointly promoted by the Administrator of the specified undertaking of the • Unit Trust of India (UTI-I) • Life Insurance Corporation of India (LIC) • General Insurance Corporation Ltd. the New India Assurance Company. National Insurance Company Ltd.405. The ceiling per instrument is Rs. It has more than 200 branch offices and Extension Counters in the country with over 4293 Axis Bank ATM proving to be one of the largest ATM networks in the country. Axis Bank in India had over 2.The latest offerings of the bank along with Dollar variant is the Euro and Pound Sterling variants of the International Travel Currency Card. without any charges. customers can make cheque payments to any beneficiary at any of its existence place. 50. The Travel Currency Card is a signature based pre-paid travel card which enables traveler’s global access to their money in local currency of the visiting country in a safe and convenient way.000/-. With the AT PAR cheque facility. Axis Bank India commits to adopt the best industry practices internationally to achieve excellence. This is the first bank in India to offer the AT PAR Cheque facility. The Bank has strengths in both retail and corporate banking and is committed to adopting the best industry practices internationally in order to achieve excellence 15 . Axis Bank has strengths in retail as well as corporate banking. Axis Bank in India today is capitalized with Rs. Also with associates viz. to all its Savings Bank customers in all the places across the country where it has presence.
B. in which his bank. the then President of the World Bank. began corporate investment in the UTI. Thus. '' The emergence of a "foreign expert" during the setting up of the UTI makes an interesting story. the UTI was not created to earn profits. The announcement by the then Finance Minister that the Government of India was contemplating the establishment of a unit trust caught the eye of Mr. The only point Mr. and the rest was contributed by scheduled commercial banks which were not nationalized then. as he was one of the principal architects of the ICICI. Nehru. Again. The RBI was asked to contribute one-half of its initial capital of Rs 5 crore. and asked the RBI to hold up the finalization of the unit trust Proposals till the expert visited India. unlike other unit trusts and mutual funds. Sullivan made was that the provision to limit the ownership of units to individuals might result in unnecessarily restricting the market for units. who was India's Executive Director on the World Bank. In the course of nearly four decades of its existence. neither did the Government of India own it nor contributes any capital. First Boston Corporation Bank.K. George Woods. through Mr. where small pension funds are an important class of customers for the unit trusts.EVOLUTION: UTI was established in 1964 by an Act of Parliament. had a sizeable shareholding. The Centre jumped at the offer. he had in mind the practice in the US. and the necessary amendments were made in the draft Bill. and given the mandate of running the UTI in the interest of the unit-holders. Woods offered. Mr. The Centre accepted the foreign expert's suggestion. Mr. which received a boost from the tax concession given by the government 16 . The State Bank of India and the Life Insurance Corporation contributed 15 per cent of the capital each. it (the UTI) has succeeded phenomenally in achieving its objective and has the largest share anywhere in the world of the domestic mutual fund industry. While making this point. This kind of structure for a unit trust is not found anywhere else in the world. Woods took a great deal of interest in the Indian financial system. the services of an expert.
The result was a phenomenal increase in corporate investment which accounted for 57 per cent of the total capital under US-64 scheme. and one more nominee would be on the Board of Trustees. The Chairman was to be nominated by the Government. The corporate lobby which perhaps subtly opposed the establishment of the UTI in the public sector made use of it for its own benefits later. Although the appointment was to be made in consultation with the Reserve Bank. including the UTI. were completely exempt from corporate income tax. 17 . albeit in Consultation with RBI. Because of high liquidity the corporate sector used the UTI to park its liquid funds. While finalizing the draft Bill. The Government-RBI power game started with the finalization of the UTI charter itself. The RBI draft of the UTI charter stipulated that the Chairman will be nominated by it.in the 1990-91 Budget. the Centre changed this stipulation. and provided the dividends declared by the investing company were higher than the dividends received. the Government could appoint a person of its choice as Chairman even if the Bank did not approve of him. According to this concession. This added to the volatility of the UTI funds. the dividends received by a company from investments in other companies.
to act as the trustee for the mutual fund business. on 5 April 2010) to market credit cards and retail asset products. in 2007 and now rechristened as Axis Securities and Sales Ltd. Axis Asset Management Company Ltd. 18 . forex. acting as a debenture trustee. • Axis Asset Management Company Ltd. and • Axis Mutual Fund Trustee Ltd. The scope of activities of the subsidiary has now been enlarged to include retail broking. was set up in December 2005 (originally incorporated as UBL Sales Ltd. treasury and other related financial services. details of transactions with Joint Venture Companies are not disclosed since there is only one entity / party in this category. primarily to carry on the activities of managing equity investments and provide venture capital support to businesses. • Axis Trustee Services Ltd. the trustee to various securitization trusts as well as other trusteeship businesses). the Bank set up Axis Private Equity Ltd. SUBSIDIARIES The Bank has set up five wholly-owned subsidiaries: • Axis Securities and Sales Ltd.. was set up. venture capital fund. infrastructure finance. Axis Securities and Sales Ltd.. was established in May 2008 to engage in trusteeship activities (e. Axis Mutual Fund Trustee Ltd. Joint Venture • Bussan Auto Finance India Private Limited Based on RBI guidelines...BUSINESS DESCRIPTION: The Bank's principal activities are to provide commercial banking services which include merchant banking. The objective of setting up the subsidiary was to build a specialized force of sales personnel and optimize operational efficiency by providing greater control over the sales effort in comparison with a Direct Sales Agent (DSA) model. Axis Trustee Services Company Ltd. trusteeship.. advisory. In October 2006. • Axis Private Equity Ltd. renamed as Axis Sales Ltd. was set up primarily to carry on the activities of managing a mutual fund business in January 2009 and in the same year.g. direct finance.
7. The Bank was set up with a capital of Rs.37% Other Indian Financial Institutions/ Mutual 7.68 % NRIs Foreign Direct Investment (GDR issue 8.PROMOTERS: UTI Bank Ltd. 2010) Sr. with • UTI contributing Rs.5 crore each.Rs. UTI-I and UTI-II with effect from 1st February 2003. % of Paid Up Capital Administrator of the Specified Undertaking 24. has been promoted by the largest and the best Financial Institution of the country. paving the way for the bifurcation of UTI into 2 entities. No Name of the Shareholders i. In December 2002.00 % 19 . Erstwhile Unit Trust of India was set up as a body corporate under the UTI Act. ii. vii. 100 crore. The present shareholding pattern is as mentioned below: (As on 31st march.00 % of the Unit Trust of India (UTI-I) Life Insurance Corporation of India 10. with a view to encourage savings and investment.5 crore • GIC and its four subsidiaries contributing Rs. v. vi.27 % PSU Insurance Companies Overseas Investors including FIIs/ OCBs/ 33. • LIC .07 % Funds/ Banks others Total 12. 115 crore.27 % General Insurance Corporation and four 4. 1963.34 % 100. iv. iii. 2002 by the Parliament. 1963 was repealed with the passage of Unit Trust of India (Transfer of Undertaking and Repeal) Act.UTI. 1. the UTI Act.
Treasury and International Banking. Which can be clearly seen by an analysis of its comprehensive portfolio of banking services including Corporate Credit. The Position in the financial year 2009-2010 was as under.94% to 104. 405.90crores Network of branches and extension counters increased from 835 to 1. crores Retail Assets up 29.01 crores as on 31 March 2009 Profit after tax up 38.123. 66.49crores Fee & Other Income up 23.38% to Rs.61 to Rs.004.17 crores from Rs.The paid up capital of the Bank as on 31 March 2010 rose to Rs.35% Earnings per share (Basic) increased from Rs.76% to Rs. 65.72% to Rs.80% to Rs. 3.53crores Net Interest Income up 35.514.300.Axis Bank is today one of the most competitive and profitable banking franchise in India. 5.343. Retail Banking.922. 50.22crores Demand Deposits up 30. 20.12Rs.029.36%from 0.38% to Rs.78 Proposed Dividend up from 100% to 120% Capital Adequacy Ratio stood at as 15. 2.80% against the minimum regulatory norm of 9% 20 .595 to 4293 Net NPA ratio as a percentage of net customer assets up to 0.51% to Rs. 359.54crores Advances up 27.40crores Deposits up 20. and Business Banking? Capital Markets. 141.035 Total number of ATMs went up from 3.
N.B. R. Varma Dr. Kaundinya Shri S. B. Prithviraj Shri V. Subbiah Shri K.L. R.H. M.V.2 Board of Directors PERSON Dr.2. Vaish Shri M. Shikha Sharma Shri M. Adarsh Kishore Smt. Patil Smt. Agrawal Shri J.R. Rama Bijapurkar Shri R. Mathur Shri P J Ojha DESIGNATION Chairman Managing Director & CEO Deputy Managing Director Director Director Director Director Director Director Director Director Company Secretary 21 .
22 . Integrity and People. Progressive globalization and achieving international standards. Continuous technology up gradating while maintaining human values. Customer Satisfaction through providing quality service effectively and efficiently.Mission Customer service and product innovation tuned to diverse needs of individual and corporate clientele. Success through Teamwork. it enhances an individual’s face value” is a service quality stressed on Periodic Customer Service Audits. Maximization of Stakeholder value. Efficiency and effectiveness built on ethical practices. Core Values “Smile.
Tel No. Hyderabad – 500 081 Tel. 3rd Floor. Cuffed Parade. Law Garden. : 022 – 67074407 Fax No. Ellis Bridge.swaminarayan@axisbank. : 079 – 2640 9322 Fax No. Vithalrao Nagar. : 022 – 2218 6944/2218 1429 23 .com Web site: www. Mumbai – 005.oza@axisbank. Opp. Ahmedabad – 380 006. : 040-23420814 Registered Office ‘Trishul’. Tel. No. : 040 – 23420815 to 23420824 Fax No.com Central Office Maker Towers ‘F’. Madhapur. 17 to 24.com/rajendra. Samartheshwar Temple. Colaba. : 079 – 2640 9321 Email: p. 13th Floor.UNIT: AXIS BANK LIMITED Plot No.axisbank. No.
2.3Axis bank offers its services majorly in four parts:
A. Personal B. Corporate C. NRI D. Priority banking
Axis bank offers various services for individual domestic customers, which includes services like 1. Accounts 2. Deposits 3. Loans 4. Cards 5. Forex 6. Invstments 7. Insurance 8. Payments 9. Other services
1. The accounts offered by axis bank for its customers
i. EasyAccess Savings Account EasyAccess Savings Account gives instant access to customer’s money anywhere, anytime. Possessing a range of unmatched features, it has been devised to better suit the convenience of our eclectic client base. These services can be availed with a minimum quarterly average balance of Rs. 5,000 in metro or urban centers, Rs. 2,500 in semi urban centers and Rs. 1,000 in rural centers.
Krishi Savings Account . This product has been specially designed keeping in mind the unique requirements of a farmer and true to its nature has been called the Krishi Savings Account. This account is offered with the requirement of maintaining the half-yearly average balance of Rs 1000 only. Being a Krishi account holder, farmers are entitled to access Axis’s wide network of more than 1000 branches and 4055 ATMs across 440 cities. They can now easily carry out their transactions through any of the branches or ATMs.
Prime Savings Account At Par Cheque Facility with an enhanced limit upto Rs. 1,00,000 Free cash withdrawal upto 5 transactions at other bank ATM's. Free monthly statement of account Free DD/PO (drawn on Axis Bank Centers) Free Passbook International Debit card with an Accidental Insurance cover upto Rs. 2 lakhs (Issuance charge waived) [To keep your personal accident insurance cover activated, you should have made a purchase transaction in 365 days prior to the day of the incident & should have maintained an average quarterly balance of Rs 5,000 (urban & metropolitan branches) or Rs 2,500 (rural & semi-urban branches) as the case may be in the two quarters before the date of the incident.]* Increased cash deposit/withdrawal limits at non home branches Option of automatic movement of excess funds in the savings account to higher earning fixed deposits Access through more than 1000 offices & 4055 ATMs 24*7 Telebanking, Internet banking and Mobile Banking Free monthly e-statement
Corporate Salary account Benefit to Employees
No minimum balance criteria. Unparalleled Access - Anywhere banking facility through our network of Branches, ATM and Internet banking facility. At Par chequebooks payable locally at all Axis Bank locations. International Debit cum ATM cards with enhanced Cash withdrawal facility and other value add ons. Online Banking with funds transfer, online shopping and bill payment options. Depository services with free online trading accounts. Meal Cards on a master card platform. Employee Reimbursement accounts as a savings account variant. Preferential pricing on loan products and credit cards and other banking products & services*.
Women’s Savings account (smart privilege account) In today's busy world it's tough being a working woman. Right from shuttling between a job and family to taking care of her finances she has to be on her toes all the time. Keeping this in mind, we at Axis Bank have designed a savings account best suited for the woman of today. With the Smart Privilege Account, you can manage your money and your life and as well as enjoy a host of lifestyle privileges. Furthermore Axis Bank's Smart Privilege Account ensures that you have enough time for all the important things in life.
Priority banking account As a Priority banking customer you will have access to an exclusive 'Priority Banking Lounge' at branches. This will allow you to conduct your financial transactions in utmost comfort and confidentiality through an exclusive Relationship Manager.
Demat Account Axis Bank is a registered member (Depository Participant) of NSDL. In this system, physical security holdings are converted into electronic (or in other words, dematerialized) holdings. Axis Bank has been enrolled as a Depository Participant by the NSDL - India's first depository. You can avail of all the depository-
related services by just opening an account with NSDL through Axis Bank.
no minimum balance is required either. Section 25 companies and NGOs. Senior citizen’s Account Axis Bank's Senior Citizen Savings Account has been designed keeping in mind the fact that a senior citizen's banking requirements are wholly different and require special considerations. Not only does it come to them absolutely free. Societies. so that the organisations can devote all of their time to their noble motivations. service providers and installation across the nation.Axis have introduced Senior Citizen ID card for their Senior Privilege patrons. Government Bodies. They can also access the entire Axis Bank network. 28 . This ensures that they are well looked after in any situation. Apart from provide you with the power to claim great benefits. it provides the doctors and authorities with vital data like their blood group. address and emergency contact details. ID card acts as an age proof enabling them to redeem every advantage that they are eligible for. In case of emergencies. Associations. illnesses.viii. Trust/NGO Savings Acoount Axis Bank's Trust Account is an effort to offer thoughtful banking for people who spend their lives thinking of others. card also act as emergency information medium. ix. This card will help them to avail of certain never-before Senior-citizen benefits at various stores. including more than 896 branches and over 4055 ATMs (as on 31st December 2009) no matter where they are posted. Defence Salary Account Defence Salary Account from Axis Bank is a product designed keeping in mind how tough a life in the Defence Forces is. allergies. x. It is a complete banking solution for Trusts. no matter where they are.
Azaadi.000 at any given instant. GBP and Japanese Yen). Resident Foreign Currency (Domestic) RFC(D) Account A Resident Foreign Currency (Domestic) Account. and • They are unable to furnish full documentation as required ordinarily for fulfilling of account opening norms xii. This account from Axis Bank. xiii. EURO. designed for Pensioner’s (Existing & Prospective) of Central Govt. There will be no ceiling on the balances held in the account. Pension Savings Bank Account. Civil Ministries/ Departments & Defence Ministry keeping in mind the fact that a Pensioner’s banking requirements are wholly different and requires special consideration.xi. 29 . RFC(D). is specifically.No Frills Account Its a savings account that doesn't require a minimum balance. • They do not intend to maintain an account balance higher than Rs 50. A customer qualify for Azaadi if • The sum total of all credits to his account does not exceed Rs 1 lac during the Financial year. The cheques thereby branded as RFC (Domestic) Account will not be presented in clearing and will be payable only at the issuing branch. with Axis Bank entitles its customers to maintain non-interest bearing current account in four major currencies (USD. Chequebooks denominated in USD or GBP or EURO or Yen will be issued on these accounts with 25 leaves. Experience a host of unparalleled features and heightened convenience with Azaadi Account.
30 . The tenure of their deposit must be a minimum of 6 months. depends on the amount of monthly installments and the period of deposit. 24. cannot be changed . Deposits offered by Axis Bank: i. 96. Features • Recurring deposits are accepted in equal monthly installments of minimum Rs 1. 60.a recurring deposit account can be transferred from one office of the Bank to another branch. Where there is delay in payment of installment. 108 and 120 months. Customers can make additions to your deposit in multiples of Rs 1. 63.Fraction of a month will be treated as full month for the purpose of calculating the penalty. 39. Fixed Deposits Axis Bank offers simple reinvestment Fixed Deposits (at very competitive interest rates). which can be opened with a minimum investment of Rs 10. • Installment for any calendar month is to be paid on or before the last working day of the month. • The amount of installment once fixed.000. • The fixed number of installments for which a depositor can opt are 12.000 and above in multiples of Rs 500 thereafter. • The total amount repayable to a depositor. ii. 36. • Transfer of Accounts . Recurring Deposits Axis Bank's Recurring Deposit scheme will allow you with an opportunity to build up your savings through regular monthly deposits of fixed sum over a fixed period of time.000 each.2. one can regularise the account by paying the defaulted installment together with a penalty (at present it is @ PLR plus 4 % for the period of delay). 48. inclusive of interest. 72. 84.
(c) Amount limited to Rs. 100. withdrawing through ATM etc.000. 100 minimum and Rs.000 to the Savings account whenever the balance in your Savings account falls below Rs 25. in multiples of Rs 10.Loans Offered by Axis : Home Loan Car loan 31 . 1961 vide Notification Number 203/2006 and SO1220 (E) dated 28/07/2006. • Tax Saver Fixed Deposit In the Finance Bill of 2006. This amount is automatically reverse swept from the most recently formed Fixed Deposit in units of Rs 5. (a) Fixed tenure without premature withdrawal. (e) Term deposit under this scheme cannot be pledged to secure a loan. 3. The amount broken form your Fixed Deposit will earn interest rates at the applicable rate for the period that the deposit was held with the Bank. This is achieved by creating a Fixed Deposit linked to your Savings Account providing you the following unique facilities: Maximum Returns: customer’s money is no longer idle.000 will be transferred automatically to a higher interest earning Fixed Deposit Account. the excess. (b) Year is defined as a financial year.000.iii. (d) Bank will issue a Fixed Deposit Receipt that shall be the basis of claiming tax benefit. the government had announced Tax benefits to Bank Term Deposits which are of over 5 year tenure u/s 80C of IT Act. Encash 24 The Encash 24 (Flexi Deposit) gives the liquidity of a Savings Account coupled with high earnings of a Fixed Deposit. • Maximum Liquidity: The money parked in Fixed Deposits as a result of the above mentioned sweep out from your Savings account can be easily accessed by issuing a cheque. The salient points of the scheme notification are. The maturity of fixed or term deposits formed as a result of transfer of money from the Savings Bank account will be for a maximum period of 181 days and the interest will be calculated on simple interest rate basis. As soon as the balance in your Savings Account crosses over Rs 25.000 maximum. The remaining amount of Fixed Deposit will continue to earn the contracted rate of interest.
Prepaid Cards • • • Travel Currency Card Payroll Card Corporate Gift Card 32 .Cards Offered By Axis bank i. Debit Cards • • • • • • Priority Platinum Chip Debit Card Priority Debit Card Classic Debit Card Gold Debit Card Gold Plus Debit Card Business Gold Debit Card iii. Credit Cards • • • • • • • • • Platinum Advantage Credit Card Platinum Credit Card Gold credit card Silver credit card Corporate Credit Card Trust chemists credit card Shriram credit card eShop cad Easy credit card ii. Personal Loan Loan against Shares Loan Against Property Loan Against Securities Education Loan Consumer Loan 4.
• • • • • Gift Card Rewards Card Remittance Card Meal Card Annuity Card 33 .
They can send money abroad for reasons more than one: education. It is always worthwhile taking some of your foreign exchange in travelers' cheques as it is a great backup to cash and cards. Forex offered by Axis bank • Travel Currency Cards The Travel Currency Card gives its customers a 24-hour access to money. 34 . maintenance for loved ones or donation for a cause. anywhere in the world. • Outward Remittances Axis Bank offers Outward Remittance facilities enabling its customers to remit money abroad through reliable and quick transactions.especially to make payments for the services you may require on your arrival at the destination.5. gifting. • Foreign Currency Cash Carrying small amount of local currency or internationally acceptable currency variants in wallet while travelling overseas is reassuring and convenient . medical purpose. Withdraw funds in the local currency from any Visa or Visa Plus ATM's (Automated Teller Machine) as well as pay for all your purchases in any country you visit. • Foreign Currency Travellers Cheques American Express Traveler's cheques are widely accepted globally as a mode of payment in many parts of the world.
6. Investment Services offered by Axis bank • • • • Gold Investment Online trading Mutual funds Demat Account 35 .
which provides protection for your property and valuables at your home. Insurance Services offered: Safe Guard Axis Bank and Bajaj Allianz General Insurance offer the 'Safe Guard' personal Accident Insurance cover. • Safe Home Safe Home. Therefore this policy safeguard their investment with an insurance cover that protects against losses due to unforeseen calamities. • Family health Family Health insurance programme provides a comprehensive health insurance that covers customer. theirr spouse and 3 dependent children up to the age of 18 years. A unique policy that offers insurance coverage at premiums that are extremely competitive and exclusively meant for Axis Bank customers. time. energy and money.7. The inverstor could face heavy losses if the business premises are burgled or if machinery breaks down. • Safe Home Plus 36 . • Business Advantage Business is built by investing so much hard work. an insurance policy exclusively designed for Axis Bank customers.
• Jewellery Insurance 37 . which is turned into reality with sweat. They get cashless benefit or medical reimbursement for hospitalization expenses due to illness or accidents.Home is a dream. Bajaj Allianz's Motor Vehicle Policy helps in maintaining vehicle in such situation. international travel involves risk. It will give you the same security of knowing that a guaranteed cash sum will be paid if the unexpected happens and you are diagnosed with a critical illness. happiness. Medical treatment abroad can be expensive and one never knows when one would require it. Axis Bank helps you to protect this dream against unforeseen calamities. Having to spend for medical bills in foreign currency can be expensive proposition. • Motor Insurance Though it is easy to own a vehicle it is expensive maintaining a motor vehicle especially in case of damage caused to your vehicle due to some unavoidable circumstances or accidents. energy and time. There are other difficult situations also. • Critical Illness A critical illness plan means you can insure yourself against the risk of serious illness in much the same way as you insure your car and your house. • Silver Health Bajaj Allianz's Silver Health Plan for senior citizens protects them and their spouse in case they need expensive medical care. that one might face like loss of passport or baggage. • Travel Companion Whether travel for business or pleasure. Bajaj Allianz's Travel Companion is specially designed to help people deal with such situations while overseas travel. pain.
The only product of its kind in the industry. when it is worn by the policyholder in person or while being carried to the bank lockers. in respect of items kept at home / bank locker. Jewellery Insurance provides complete security for gold / jewellery. 38 . Absolute security & coverage is given against burglary & fire. Result: Complete peace of mind.
8. • Direct tax Payment The Bank is authorised for Collection of Income or Other Direct Taxes on behalf of Central Board of Direct Taxes (CBDT) w. payments of donations and other bill payments. So its time to say goodbye to late payment fines. Income / Other Direct Taxes. as well as Central Excise & Service Tax* through iConnect can be paid from account online and can get on-line acknowledgement of the payment by way of a Cyber Receipt.Payments services offered by Axis: • Bill Pay Axis Bank's Bill Pay service enables you to make secure payments from the comfort of your home or office. long queues.e. credit card payments. and commissions paid to local errand boys. credit cards. • Tax ePayments In this service. • ECS It is an electronic clearing system that facilitates paperless credit / debit transaction directly linked to your account and also provides for a faster method of effecting periodic and repetitive payments. etc). you can pay all your Utility bills (electricity/telephone/Mobile bills. Loan Installments. Mutual Fund (SIP). 39 . Through ECS (Debit). lost bills. Insurance Premium.f 1 October. including Challan Identification Number (CIN) immediately after making the payment. 2003.
2010 lockers are available at 944 branches and extension counters. All his need is a VISA debit or credit card. He doesn’t even have to be an Axis Bank customer. Other services offered by axis Bank to its individual customers are: • MOBILE REFILL : RECHARGE AT THE ATM An individual can recharge his mobile talk time at any of our ATMs. Advantages Wide Availability: As on March 31.• Pension Disbursement The Bank is authorised by RBI and Ministry of Defence for disbursement of Pension to Armed Force (Army. • LOCKER (Unmatched protection for your valuables) A Safe Deposit Liker with Axis Bank is the solution to an individual’s concern. Lockers available in various sizes. Located at select branches in cities all over the country. our lockers ensure the safe keeping of an individual’s valuables. If he is an Axis Bank customer. ONLINE SHOPPING (Safe ans Secure internet Payment) 40 . Competitive rentals. • Extended banking hours to operate lockers. then he can also use his Axis Bank debit card (both VISA as well as Master card). Direct debits for locker rentals from your account rid you of the hassle in writing out cheques. Navy and Air Force) personnel through its 151 authorised branches across the country.
He can shop as much as he like and conveniently make instant payments by debiting his account through the secured payment channel. He can also avail of numerous online services. Instead of moving out funds from his account for application to an IPO. All he need is an Internet enabled PC. the amount can now simply be blocked.Axis Bank offers an individual the convenience of shopping at many major Online stores from the comfort of his home or office. E-Statement are secure and electronic way to receive statement of accounts from the Bank. Instant release / unblocking of funds after allotment / non. No need to write cheques or make demand drafts. get to know about the current special offers/discounts and get a preview of the new items added on to the shelves by these online retailers/service providers. Which means as long as the IPO shares are not allotted. in his account itself ! The above service is being made available in accordance with the SEBI guidelines on ASBA (Applications Supported by Blocked Amount). iConnect – Our Internet banking platform. E-Statement • Axis Bank offers the facility of E-Statement. • IPOSMART (Now invest in IPO’s without letting go of your funds !) An individual’s Axis Bank savings account now makes IPO application a seamless and hassle-free process. the funds stay with him and he also gain interest on them? Plus he get the security of having the refunds directly unblocked and made available to you. Convenient and transparent management of funds. 41 .allotment of shares. He can choose & then get he items delivered at his doorstep. Benefits Interest on funds which otherwise would have moved out of your savings account.
Exproers. 25 lacs at Semi Urban / Rural branches). this premium current account smoothly fulfills your daily banking requirement.Various types of Current Accounts to suit every business requirements like: The Banks offers a range of current account products to meet the needs of the various customer segments such as Small Enterprises. Normal Current Account Business Advantage Account Business Select Account Business Classic Account Business Privilege Account Channel One Account Current Account for Govt Organisations Current Account for Banks Current Account for Builders & Real Estate Capital Market Current Account 42 . Axis bank offers Corporate services. Exclusive Banking Redefined . Trade. 50 lacs (Rs. Main Features: Dedicate relationship manager Lifestyle benefits/ privileges Free doorstep banking Free RTGS / NEFT Facility Cash Management Services Free International Business Gold Debit Card 2.Club50 Current Account At a half yearly average balance of Rs.B. like: 1. Corporate and intuitions.
Features Anywhere Banking Axis Bank’s Current Account allows an individual to bank from all Axis Bank’s branches and Extension counters. In addition to conventional banking facilities. Axis Bank’s Current Account came equipped with the following features to give maximum value for an individual’s money. and issue ‘at-par’ 43 . Tourism and Hospitality Current Account Local Current Account Current Account for Pharma Current Account for Chartered Accountants These products offer flexibility to customers to choose from the above option with varying minimum average quarterly balance commitments and charges structure. An individual can deposit cash. Customers are subject to transaction charges including charges for non-maintenance of the committed balances. these accounts offer Multi-City at Par payable cheque – book facility and anywhere banking facility across offer Multi – city At Par payable cheque – book facility and any where banking facility across braches. withdraw cash. Krishi Current Account Business Global Current Account Club 50 Current Account Inland Road Transport Current Account Travel. Axis Bank’s Internet banking platform as also through TeleBanking facility and can receive account balance information on mobile telephones and electronic mail. Customers can access their account Online through Corporate iConnect. Axis Bank brings different kinds of current accounts for different types of businesses select the one that best suits an individual’s business requirements. deposit cheque.
Available with multiply user IDs. right from an individual’s through Axis Bank’s internet banking services. An individual can also excuse bulk payments like salary and commission across Axis Bank network right form his desktop. 2008. An individual can withdraw upto Rs 40. So bank at an individual’s own Convenience. An individual can avail upto 2 ATM cum Debit cards. depending on an individual’s needs. Free Monthly Account Statement 44 .000 branches of various banks. ATM or Debit Card With every Current Account (For proprietary and partnership concerns). At-Par (Multicity) Chequebook Enjoy the benefits of Multicity Chequebook with Axis Bank’s current Accounts. Instant Fund Transfer An individual can transfer funds instantly between any of Axis Bank’s branches. Corporate iConnect also permits transaction initiation by one user and approval by another. Funds transfers can be affected online.000 a day. An individual cans issue cheques payable at par at all Axis Bank’s branches across the country. An individual’s cheques will be treated as local cheques at more than 375 locations as on January 31. An individual can transfer funds to his own accounts or to third party accounts within Axis Bank & Inter Bank covering over 25. Access an individual’s account at any time form anywhere. which allow an individual round the clock access to his account from any of all Axis Bank’s ATMs all over the country. Internet Banking Axis Bank presents corporate iConnect – a unique net Banking platform for the current account customers.cheques at any of Axis Bank’s branches.
Axis bank provides services in the areas like: Capital Market Treasury Cash management services Govt. business 45 .Besides these services. • • • • • Fast track loans for SMEs Wide range of products for the SME segment Organised payment and collection solutions Online tax payment or through vast branch network Mobile Banking services available for Current Account 3.By courier and daily on email.Credit Services by Axis bank: • To large Corporates • To Agri Business: For SME unites Microfinance 4. Mobile Banking Mobile Banking will enable an individual to bank with Axis Bank through his mobile phone irrespective of where an individual are.
C. this account will meet all an individual’s banking need. This account permits a NRI to hoed and maintain foreign currency earnings in Indian rupees.000 on Axis Bank’s Debit Card (The insurance cover will come in force only after An individual make his first successful payment transaction at any merchant establishment.)* Tax Advisory Services from Axis Bank’s empanelled consultants Assistance to obtain Income Tax PAN Cards to make an individual compliant with the tax regulations of the native lands. The Principal and interest earned on these balances are freely reportable. Whether an individual are a student.00. a salaried employee or an entrepreneur. Features Low minimum balance requirement of Rs 5. Free personal accident cover of Indian Rupees 2. Free iConnect: 24 X 7 account access through secure internet banking facility from anywhere and anytime. Non-Resident (External) NRE Saving Account Any person resident outside India may open NRE account. 46 .000 ‘Multicity’ cheque book which will permit An individual to make payment via cheque across multiple locations Mandate or Power of Attorney facility available so that in An individual’s absence from the country An individual can authorize his relative or friend to operate conduct banking transactions on his behalf. Online shopping mall and utility bill payment facility be using Axis Bank’s Internet based iConnect banking login. a professional.
offer a specialized banking service to their elite customers. MNC banks define the HNI segment taking into account the customers’ liability as well as. This also makes business sense.Priority Banking – Resident In a segmentation study undertaken in 2002. it was found that 2. Priority Banking was launched in order to cater to the needs of the high net worth customers within the bank. The product has at its core. most of the business in a particular branch flows from a handful of clients.05% of Axis Bank’s total retail deposits. private as well as foreign. Hence. assail relationship with the bank (Between 20-30 Lakhs and above) whereas the Indian private banks only take in the savings bank balances and term deposits (Between 5-10 Lakhs ans above). The nucleus of these services has essentially four important components Personalized service Investment advisory Services Prefential pricing of banking products/services Lifestyle privileges.72 % of Axis Bank’s retail customers contribute to nearly 49. In general. The definition of the value of relationship and services offered differs across banks. 47 .D. Most of Banks. acquisition and cross selling. as more often than not. the idea of providing a certain bit of differentiation in service and treatment to a segment of its customers with a view towards customer retention. The clients that bring a larger share of business to the Bank expect a differentiated standard of service.
Avail of free cash and cheque pick-up delivery at an individual’s or residence. The card also comes with higher ATM withdrawal limits. Home Banking Experience the convenience of Axis Bank’s home banking facilities. Investment advice market information reports and invitations to investor meets are offered complimentary to an individual. This will allow an individual to conduct his financial transactions in utmost comfort and confidentiality through an exclusive Relationship Manager. Dedicated Relationship Manager An individual will enjoy access to a dedicated Relationship Manager who will be his one point contact at branch for all An his banking transactions thus ensuring that An individual would neither have to move from one counter to the other nor stand in queues to await his turn. 48 . Investment Privileges Avail of assistance in financial planning. higher POS transaction limits at merchant establishments. An individual also get Prefential Interest Rates and lowered Processing Fees on select Retail Loans. Exclusive Priority Banking International Debit card This card allows an individual free access to all VISA ATMs in Idea.Features Priority Banking Lounge : As a Priority banking customer an individual will have access to an exclusive ‘Priority Banking Lounge’ at branches. enhanced insurance over and a host of special discounts and offers.
plays. especially for Axis Bank’s Priority Banking Customers. Other Banking Privileges • Enjoy a host of banking privileges like free at-par cheques. As a Priority Banking customer. 49 . music concerns and other special events sponsored by Axis Bank. • An individual would also be entitled to two free minor accounts. We aim to provide a different lifestyle experience through Lifestyle privileges like exclusive invitations to movie screenings. one free outward remittance per quarter and free Mobile banking. it’s all about just financial series. there would be no issuance charge on Axis Bank’s Travel Currency Card. free passbook updates and monthly statements. demand drafts and pay orders. Lifestyle privileges However.
g. Idea. Life Insurance Corporation Premium Payment Bill Payment e. This includes all Axis Bank’s onsite and off-site ATMs. with real time debit to customer’s account Cash & Cheques Deposit Balance Inquiry PIN Charge Other Services: • Mobile Airtime Refill for Hutch. which in turn interacts with Axis Bank’s centralized core banking software for transaction processing. The Bank through its ATMs offers the following services “ Banking Services: • • • • Cash Withdrawal.03.: BSNL. Airtel.Other SERVICES: ATM The bank has 4293 ATMs as on 31. BPL. RIM.2010. Tata Tele Facility for Non UTI bank VISA card holders to refill their prepaid phones. MTNL Funds Transfer (within own accounts) Online Donations to Trusts & NGOs Purchase and redemption of UTI Mutual Fund Schemes through the ATM • • • • • • 50 . All Axis Bank’s ATMs are connected to Axis Bank’s Base 24 ATM switch. Cellular.
the bank has adopted 2 strategies : • • ATM Sharing with other banks New functionalities such as mobile airtime refill. Almost all costs related to setting up and maintenance of an ATM network is fixed. The Bank has achieved tremendous success in this regard. information kiosk. The Bank has also set up ATM galleries at 3 location. The ATM Channel for the bank has been a major customer acquisition tool. 51 . bill payment. A bill payment kiosk has also been set up at this gallery. and BPCL for setting up ATMs at their locations. To generate direct revenue from the ATM Channel. Central Railways (Mumbai) Pantaloons. the challenge for the Bank has been to migrate customers to this channel and develop new streams of revenues from this channel. increasingly the channel is being seen as a customer servicing tool and all the new value added services are part of that initiative. in order to make the channel viable. a card operated touch-screen internet kiosk. Thus. etc. We have been able to migrate about 90% of all cash disbursement transactions to Axis Bank’s ATMs. Each of the Gallery has 2 ATMs for the convenience of the customers.Strategic Tie-ups for ATM We have also tied up with Western Railway (Mumbai). balance inquiry. bill payment & mutual fund sales through which Axis Bank’s bank earns a commission. though which the customers can access their iConnect accounts with bank and perform their banking transactions such as funds transfer. HPCL.
payment of rent to landlord. • Direct Payment. • Payee: This a variation of direct payment method with the customer creating his own biller for example. the customer needs to register for each bill.INTERNET BANKING Since April 2000.Under this type of bill payment. A bride description of each product is given below: Bill Payment The bill payment series on the internet can be classified into three categories: • Presentment of EBPP (Electronic Bill Presentment and Payment).Under this type of bill payment.. The customer is free to select the biller and pay accordingly to his convenience. the Internet Banking channel has grown fast to com pelmet the branch and ATM network. Apart from routine functional like balance and transactions lookup. the biller will sent an electronic version of the bill for acceptance and payment. which amounts to more than 50% of Axis Bank’s retail banking savings accounts customers. . As of March 2006. 52 . The landlord’s account details would typically be entered and payment made on a recurring basis. we also provide a number of value – added services on the internet banking platform. Shopping A customer with Internet banking access can buy from merchants registered with us and pay through the direct debit facility on Axis Bank’s website. no bill presentment happens. Once registered. there are around 20 lakh users of internet banking.
Benefits Safety: Be alerted on any transaction above Rs. within the last one and a half year. 5. Know the status of the account from wherever an individual are.000 in an individual’s account so that action can be initiated promptly in case of any misuse of the account.000. 53 . Axis Bank Offers the Automatic Alerts service in mobile banking: A subscriber is alerted through SMS on the activities in his account with automatic alerts for every debit in his account of more than Rs. the customer base has grown to over five lacs subscribers as of April 2006. Convenience. 5. he receives an alert as soon as a bill is presented by the biller for payment.MOBILE BANKING Mobile banking was launched by the bank in October 2004. Also if the customer is registered for bill payments.
In addition to opening and disbursing more than 3000 schematic loans every month.5000 crores per month on the collection front and about Rs. it is responsible for the maintenance of more than 100. handling more than one lakh cheques every day for outward and inward clearing. ATM BACKEND CELL The ATM Backend Cell handles the entire cash management and reconciliation of balances pertaining to ATMs across the country and ends up tallying over four lakh transactions by the end of the day. CENTRALISED COLLECTION AND PAYMENT HUB The Bank’s Centralized Collection and Payment Hub (CCPH) manages the entire collection and payment activity under the Bank’s Cash Management Services (CMS) across the country. handling multiple queries in about 7000 calls per day. CENTRALISED PHONE BANKING CENTRE The Bank’s Centralized Phone Banking Centre provides customers across the country access to the Bank over the phone. Each transaction that gets recorded at the Data Centre gets reflected almost instantaneously through WAN on the back-up database at the BCC. 54 . SERVICE BRANCHES The Bank’s Service Branches in the 8 major metros take care of centralized clearing activity. and handles the entire post – dated cheque presentation and several kinds of repayments for all these accounts. handling on an average about Rs. RETAIL ASSETS MANAGEMENT GROUP The Bank’s Retail Assets Management Group (RAMG) is the operations hub of the entire Retail asset distribution structure.000 such loan accounts.1500 crores per month on the payment front.SERVICES ADDED TO GAIN COMPETETIVE ADVANTAGE: BUSINESS CONTINUITY CENTRE: UTI Bank was the first bank in the country to set up a Business Continuity Centre (BCC) in Bangalore which replicates the entire centralized database with a view to enable the Bank to run smoothly in case of any eventuality affecting the Bank’s Data Centre in Mumbai.
DATA CENTRE The Bank’s Data Centre in Mumbai. managing production and delivery of the entire range of deliverables to customers across the country within 24 – 72 hours from the time the customer opens the account. to service over 42 lakh customer accounts and adding new customers @ 8000 per day. CENTRALISED PROCESSING UNIT The Bank’s Centralised Processing Unit (CPU) is the backbone of the Bank. 55 . the centralized IT powerhouse is like the central nervous system of the Bank. The CPU currently handles about 8500 new accounts every day. It is a real time 24x7 setup. which manages 270 products and services of the bank with a database size of 1850 GB supporting on an average 42 lakh transactions per day.
RESEARCH METHODOLOGY 56 .
RESEARCH METHEDOLOGY 3. Main objective of the study is to “Critical appraisal of product & services offered by axis bank. 3. In economic development need not be emphasized. No doubt financial institutions play so important in economic development but at the some time economic development determines the growth and development of banking institutions the role of various kind of banking institution. Consumer preference about various products and services.1.2 DURATION OF PROJECT Short term project. It is hard to anticipate development of efficient banking services in the country.” Some of the major objectives of the study include the determination of the following: Consumer awareness about the products and services provided by the axis bank. Customer satisfaction with the service provided by the bank. 57 . Customer’s perception towards private Banking and their expectations from private banks.1 TITLE OF STUDY “Critical appraisal of product & services offered by Axis Bank with emphasis on deposit mix” 3.3 OBJECTIVES OF STUDY Banking and finance can be called as the nerves of any economic system as they accelerate the process of economic development through canalization of adequate finace.
For my project work it was collected through the help of various directories of various associations. Secondary data are the easiest to gather and the cost of collecting this data is also very low. Marketing research is defined as the systematic design. and contact methods. and reporting of data and findings relevant to a specific marketing situation facing the company. 58 . The research process depends upon developing the most efficient plan for gathering the needed information. sampling paln. magazines. Secondary data Secondary data provides a starting point for any research and offers valuable sources of already existing information. research approaches. 3. Designing a research plan calls fro decisions on the data sources. for my target people. The directories helped me in short lisitng people.4 TYPE OF RESEARCH Research is one of the most important parts of any study and pertains to the collection of information and knowledge. Data Source For this project both primary and secondary data were valuable sources of information. analysis. collection. newspapers. research instruments. 3. The method was simple random sampling. websites etc. Draw out with conclusions and suggestion based on the analysis and the interpretation of data.5 SAMPLE SIZE AND METHOD OF SELECTING SAMPLE I chose a sample size of 40 respondents consisting of based on judgment sampling All respondents were the customers of Axis Bank. My project has been developed on has basis of both exploratory and descriptive research.
Some of the directories made use of are as follows: √ √ √ √ √ √ √ √ √ Telephone directory Income tax office City directory Chartered accountant directory Carpet industries directory Indian medical association directory Transporter directory Lawyers directory Builders & constructors directories Primary data Primary data are data freshly gathered for a specific purpose.This method was also used by me once or twice. keeping in mind the busy schedule of a few respondents. For my project work the primary data was collected by means of survey though questionnaires. Contact methods Once the client had been decided now my task was how to contact them. The various products and services offered by it include: PRODUCT Deposits (Saving account and current account) 59 .6 SCOPE OF STUDY Axis Bank is one of the most famous banks in India. 1. Personal interview:- this method was the most appropriate way of survey. 3. 2. and for me there only two ways of contacting them. because by personal interview I came to know about their feeling for Axis Bank. Telephone:.
7 Limitations of Study The study was based on a very modest sample size hence cannot be called as a representation of the views and opinion of the majority. 3. I hope that this report would be able to suggest some measures and draw attention of bank towards the area of improvement. 60 . In a rapidly changing industry. This project deals with the various customer concerns regarding these and tries to suggest appropriate suggesting based on conclusions. The environmental changes are vital to be considered in order to assimilate the findings. The conclusion arrived at are based on a very less experience of researcher in this field. analysis on one day or in one segment can change very quickly. Loans Card SERVICES ATM Mobile Banking Internet Banking Payment Other Services The deposit mix of an organization especially the Saving accounts are the backbone of every bank as an ordinary man is most inclined to invest in it due to its convenience and easy availability.
FACTS & FINDINGS 62 .
1 2 3 4 5 Q. 1 2 3 4 Q. of Respondents 6 8 8 8 10 S.1 Which are group do you belong (AGE WISE)? S. of Respondents 16 8 6 . 1 2 3 Age Group Quick Services Proper information Working hours 63 No. of Respondents 18 10 6 6 S. 1 2 3 4 Age Group Less than 25 25 to 40 40 to 55 Above 55 No. of Respondents 6 18 10 4 Q. No.2. while opening an account do you expect from a bank? S. FACTS & FINDINGS Q. No. No.2 what is your occupation? Age Group Service Business Student Others No.4 what features/attributes. No.3 Please specify your annual income? Age Group Less than 1 lakh 1 to 2 lakh 2 to 3 lakh 3 to 4 lakh More than 4 lakh No.
of Respondents 18 10 6 2 4 S.7 Your remark on products of Axis Bank? Age Group Excellent Good Average Poor No. of Respondents 14 12 10 4 S. 1 2 3 4 Q.8 In comparison to other bank how would you rate Axis Bank? 64 . of Respondents 12 16 10 2 S. 1 2 3 4 Q. No. 1 2 3 4 5 Q. No.4 5 Less Formalities Variety of Product 6 4 Q.6 Who influenced to open an account in Axis Bank? Age Group Friend and Relative Advertisement Bank Employees Prospectus No. No.5 What kind of account do you have in Axis Bank? Age Group Saving Account Current Account Fixed Deposits NRL Account Others No.
of Respondents 24 12 4 S.S.9 How long did your wait in queue? Age Group 0-5 Minute 5-10 Minute More than 10 Minute No. 1 2 3 65 . of Respondents 8 18 10 2 2 Q. 1 2 3 4 5 Age Group Excellent Good Average Poor Can’t Say No. No. No.
of Respondents 32 8 66 .Q. No.10 do you think the number of counter available are sufficient ? S. 1 2 Yes No Age Group No.
ANALYSIS & INTERPRETATION 67 .
68 . it can be said the middle-aged group are the main customer of the banks as they occupied almost 75% of this graph. High pay packages to today’s employed youth and large saving with the old age people (especially in urban areas) has made them attractive potential customers. DATA ANALYSIS & INTERPRETATION Q.3.1 Which are group do you belong (Age wise) ? Interpretation : After looking this bar graph. The bank has a huge potential in terms of the untapped market – Young and old age group people.
This may be possible due to the facility of “Anywhere Banking” suiting their needs and preferences. 69 .2 What is your occupation ? Interpretation : Most of the service class people prefer to open a Savings Account in comparison to the business class people.Q.
Q.e. specially for saving account are of every segment of income group since its is devoted to render best services to its costumer.3 Please specify your annual income? Interpretation: Income does not make any difference as far as opening the account in the Axis Bank is concerned. lower income group where emphasis is required to penetrate this group so it can be said that the target group of the axis bank. as the bar diagram is vividly revealing that more or less people of every segment of income group have opened and are opening the account expert one group i. 70 .
4 what features/attributes. Varieties of product do not make a big impact on customer behavior for opening an account in any bank if its services are efficient. As in this bar customer has erred it. For these services like bank preference should be given to make a prompt and customer friendly service channel.Q. One this in this bar also really significant is. But on the other hand bank can’t ignore working hours. factor like less formalities of document while opening an account. 71 . while opening an account do you expect from a bank? Interpretation: When a customer visits any bank the first and foremost thing he expects is the quickness of service and the promptness in entertaining by the bank employee. Second thing customer wishes to have is proper information regarding his queries. For this focus must be given to make well informed and proactive employee along with work should be executed technologically rather than manually.
5 What kind of account do you have in Axis Bank ? Interpretation : Saving account is the leading and attractive product for the Axis bank as it occupies a major chunk in this bar. reason for this could be. Providing better services in comparison with the competitors is a must for excelling in industry. One thing in this bar which is significant is the business of the bank is relying on only few leading products. That is giving an alarming message to the management of the bank to go or analyzing the situation very minutely and must ascertain where things are going wrong and for that what short of necessary step could be taken. neither it has limited range of products nor rest of the product does not have much ability to penetrate in the stiff market of banking of Jaipur. It is clearly implying that this product has the ability to satisfy the customers. 72 . On the second had and the positions current accounts and fixed deposits has also been helpful to increase the customer base but still their performances needs to be improved.Q.
It reveals advertisement of different medium.6 Who influenced to open an account in Axis Bank ? Interpretation : As it is said a satisfied customer is the best medium for advertisement since in this bar friends and relatives have play a key role in opening the accounts for others. as been a key factor in generating the awareness about banks product as well as facilities that are made to available on then in the peoples mind. An advertisement and bank employees more or less has been good performer in their respective domain.Q. which implies that bank real customer are satisfied enough with the facilities available on the products and the services enjoyed by them. 73 .
74 .7 Your remark on products of Axis Bank ? Interpretation : As this bar is showing at what level people are saved with saving account. Reason for this could be different type of facility associated with this product. this implies that this product has been a leading product and still an attractive product of the Axis bank. and ability to serve all the needs of customer because by and large it can be said 75% people are saving good to savings accounts. Efforts must be given to know why they are people who are still saying average and poor about saving accounts and what are the factors that are going wrong with that segment of people.Q. which are reading true value to the customer and marketing people are also very much devoted to give the best from this part. with its unique facilities features.
it has occupied a different position in the people mind with its customer friendly products and to serve them a efficient and prompt banking system.Q. This bar is vividly showing that the performance of Axis bank has been good because in such a short span of it’s existence in this city with strong competition from major public sector bank like SBI and other private banks. Reason for this could be. 75 .8 In comparison to other bank how would you rate Axis Bank ? Interpretation : Rating of any bank depends on its overall performance in the eye of the people.
76 .9 How long did your wait in queue ? Interpretation : As this bar graph showing 57% people wait in queue 0-5 minutes. While it should be 100% people.Q.
10 Do you think the number of counter available are sufficient ? Interpretation: As this bar graph showing 82% people are sufficient.Q. 77 . While it should be 100% people.
SWOT ANALYSIS 78 .
4. SWOT ANALYSIS Strengths Support of various promoters High level to services Knowledge of Indian market Strong management team Comprehensive range of financial products & Services Weaknesses Low market capitalization Not been fully able to position itself correctly Average volume of branch network Opportunities Growing Indian banking sector People are becoming more service oriented in the global market Technological changes Increase of new branch network Threats From various competitors Foreign banks Government banks Aggressive competition strategy among the main banks Economic uncertainty in global market 79 .
CONCLUSION 80 .
but still it remains the first choice of small investor’s because it is synonymic with safe and fixed return giving alternative for investment of savings. 81 . where all options of Investment lacks the interest of people for one or other reason. Income – higher the income. We found that: Savings from the backbone for FD market. Axis Bank saving product is highly popular due to its In case of special saving Account. However falling banks rates have certainly lessen the faith of people in it. And savers are looking much more closing at investment avenues in order to optimize their returns at least risk.5. 3. Savings of people are mainly affected by three factors. 2. lower the savings. anywhere banking with ATM and Debit Card. if bank provides the various facilities. FD still remains at the top in the mind of people as a known convenient and reward earning option for investing their hard earned savings. 1. cheques pickup facility then it can tap out more number of trusts and society. people who were spending as though there will no tomorrow have turned savers. high risk is out. Consumption – higher the consumption. The need of the hour is safety and security. higher the savings. Recent global economy slowdown has made negative influence on let investor perception of security. Inflating – higher the inflating rate. With the arrival of pink slip solute. CONCLUSION In this time of economy slump. lower the savings.
RECOMMENDATION & SUGGESTION 82 .
This bank normally using for the long term planning like saving and FD. Because these two class forms major users of the banking services. • Into the comparison of other bank its performance is quite good but not an effective so this may be doing the rates were down with some other facilities. RECOMMENDATION & SUGGESTION • Mostly service class persons prefer the axis bank in the comparison of business and students and other class persons thus it needs to promote its product and services that are offered mainly for the business class people and students. 83 .6. • Axis bank is normally not using properly for the current account so its popularity ratio is quite down. • This bank is not investing more into the marketing sector so I will suggest that some of the part of income it investing in the advertising and marketing sector.
For handling large call volumes. BPO: UTI Bank wanted to establish itself as a customer focused bank and carve a niche for itself amidst the widespread competition. A dedicated response center would allow branch operators to divert all customers’ queries to the helpdesk number and focus on their core responsibilities instead. The call center was expected to eliminate the load of routine queries that branch operators had to handle. Efficient service and timely support were the deciding factors for customers to remain loyal to any particular bank. which brought Customer Relationship Management (CRM) into sharp focus. With over 1700 ATMs. UTI has a very large network of branch offices and extension counters across the country. UTI Bank introduced quality services to enhance the banking experience of its customers. CRM: Privatization opened up the Indian banking sector.RECOMMENDATIONS TO THE COMPANY TO GAIN UPPER MARKET SHARE: UTI Bank was one of the first private banks to launch operations in the country in 1994. supporting customers became a challenging task. Also. • 84 . Using the latest technologies. UTI Bank is a pioneer in adopting new technologies in the banking sector. A failover and redundancy solution was required to guarantee high availability of services and ensure uninterrupted call traffic. a single window service with a populated knowledgebase would introduce a high degree of standardization in the replies given to customer queries. the application infrastructure was also required to be perfectly scalable. allowing a large number of players to offer retail banking services in the country. As the services stack expanded. The bank was also looking to avoid a situation where customers would be put on hold for long periods of time. The bank wanted a solution that could accommodate growth over a long period of time. Setting up a state of the art call center facility that could provide quality support to customers across the country became vital to further this goal. UTI Bank has the largest ATM network of its kind in India. after the Government of India passed a resolution in favor of privatization. An IT savvy bank.
APPENDIX 85 .
. Occupation ………………………… Q. What is your occupation? a) b) c) d) Service Business Student Others 86 ..7. Every information given by you will be for answering few questions given below. Name……………………………….1 Which age group do you belong? a) b) c) d) Q. Every information given by you will be only for academic purpose. Jaipur.2 Less than 25 25 to 40 40 to 55 Above 55 Address ………………………… …………………………………. I shall be very thankful. if you give your few minutes to me for answering few questions given below. Sex………………………………… Age ……………………………….. APPENDIX QUESTIONNAIRE Dear sir/madam I am management student conduction a survey on Axis Bank.
4 What features/attributes.5 What kind of account do you have in Axis Bank? a) b) c) d) Saving Account Current Account Fixed Deposits NRL Account Q.3 Please specify your annual income? a) b) c) d) e) Less than 1 lakh 1 to 2 lakh 2 to 3 lakh 3 to 4 lakh More than 4 lakh Q.Q. while opening an account do you expect from a bank? a) b) c) d) e) Quick Services Variety of products Less formalities of documents Working hours Proper information Q.6 Who influenced to open an account in Axis Bank? a) b) c) d) Bank Employees Prospectus Advertisement Friend and Relative would you recommend 87 .
10 do you think the number of counter available are sufficient? a) b) Yes No 88 .Q.7 Your remark on products of Axis Bank? a) b) c) d) Excellent Good Average Poor Q.8 In comparison to other bank how would you rate Axis Bank? a) b) c) d) e) Excellent Good Average Poor Can’t Say Q.9 How long did your wait in queue? a) b) Yes No Q.
infinancials.Report .com www.8.axisbank. 89 .axisbank.com www.2010. PDF. BIBLIOGRAPHY Websites www.com/xmlapplication/aboutus/financials/images/Ann ual .
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