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OPENING SAVING ACCOUNTS BY MEETING CUSTOMERS

A PROJECT REPORT Submitted by

BRIJ BHUSHAN SHASTRI

In the partial fulfillment for the award of the degree Of

MASTER IN BUSINESS ADMINISTRARTION

RIMT- INSTITUTE OF MANAGEMENT AND COMPUTER TECHNOLOGY

PUNJAB TECHNICAL UIVERSITY, JALANDHAR,PUNJAB
2012-2013

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ACKNOWLEDGEMENT

I consider it pleasant privilege to express my heartiest gratitude and indebtedness to those who have assisted me towards the completion of my project report.

I am very much thankful to Mr. Vineet Pandoh Manager, Reliance Money Limited, for making me capable of conducting such a study. I would also like to express my gratitude towards my Faculty Guide Ms. Prabhdeep Kaur who helped me to complete the project.

Under her able guidance I have increased my capacity to understand and work in a demanding environment.

I owe my special regards to God, my Parents and my elders for their blessings and good wishes.

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PREFACE

The successful completion of this project was a unique experience for me because by visiting many place and interacting various persons, I achieved a better knowledge about sales. The experience which I gained by doing this project is being submitted which contain detailed analysis of the research under taken by me.

The research provides an opportunity to the student to devote his/her skills, knowledge and competencies required during the technical session.

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CHAPTER1- INTRODUCTION

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1.1 THE TOPIC:
“OPENING SAVINGS ACCOUNTS BY MEETING CUSTOMERS” At HDFC Bank, I was assigned with the topic as “Opening Savings Accounts by Meeting Customers” for my project work. I joined the company as a Sales Executive. The selection of the topic was to know how the company generates business through them. Sales Executives are those sources of a company who have their own relations and personal contacts among common public that they use to generate business through. Company has certain criteria to recruit these Sales Executives. The steps are as follows. · He should be at least 12th passed. · He should have good personal contacts. · He should have convincing power. · He should be above 18th year old. Once he through all these steps of recruitment, he becomes the Sales Executive of the company and reserve the right to sale the various products to any prospect client also he is paid the commission a certain percentage. There are some reward and tour package also.

1.2 REASON FOR SELECTION OF THIS TOPIC:
The financial sector is one of the booming and increasing sectors in India. The Sales Executives are one of the most powerful, efficient and effective channel through which the company sales its various types of financial products. It is really difficult to convince customers and sell a single product but since these executives have their own personal contacts which make the entire task easier to sell a product. Whereas in my entire project work I found my interest in working in a team, dealing with customers and finally convincing them to open an account with the bank.

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1.3 IMPORTANCE TO THE COMPANY:
The ultimate purpose of giving me this topic was to know about the customer’s perceptions about the different products of the bank, how these products can attract them and how the company can generate maximum profit by convincing them through sales executives.

1.4 LEARNING FROM THE STUDY:
· The process of recruitment for Sales Executives of HDFC Bank. · Different products and services provided by the bank. · Customers’ perception about the different products. · The brand image of the bank. · What are the problems faced by these sales executives daily basis. · How to communicate with the customers. · Different techniques of dealing with the customers. · How to convince and convert a customer into a real customer.

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CHAPTER 2-ORGANIZATION PROFILE

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2. COMPANY HISTORY
2.1 FORMATION OF THE COMPANY

The 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, as part of the RBI's liberalization of the Indian Banking Industry in 1994. The bank was incorporated in August 1994 in the name of 'HDFC Bank Limited', with its registered office in Mumbai, India. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995.

PROMOTER

HDFC is India's premier housing finance company and enjoys an impeccable track record in India as well as in international markets. Since its inception in 1977, the Corporation has maintained a consistent and healthy growth in its operations to remain the market leader in mortgages. Its outstanding loan portfolio covers well over a million dwelling units. HDFC has developed significant expertise in retail mortgage loans to different market segments and also has a large corporate client base for its housing related credit facilities. With its experience in the financial markets, a strong market reputation, large shareholder base and unique consumer franchise, HDFC was ideally positioned to promote a bank in the Indian environment.

BUSINESS FOCUS

HDFC Bank's mission is to be a World-Class Indian Bank. The objective is to build sound customer franchises across distinct businesses so as to be the preferred provider of banking services for target retail and wholesale customer segments, and to achieve healthy growth in profitability, consistent with the bank's risk appetite. The bank is committed to maintain the highest level of ethical standards, professional integrity, corporate governance and regulatory compliance. HDFC Bank's business philosophy is based on four core values - Operational Excellence, Customer Focus, Product Leadership and People.

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CAPITAL STRUCTURE

The authorized capital of HDFC Bank is Rs550 crore (Rs5.5 billion). The paid-up capital is Rs424.6 crore (Rs.4.2 billion). The HDFC Group holds 19.4% of the bank's equity and about 17.6% of the equity is held by the ADS Depository (in respect of the bank's American Depository Shares (ADS) Issue). Roughly 28% of the equity is held by Foreign Institutional Investors (FIIs) and the bank has about 570,000 shareholders. The shares are listed on the stock Exchange, Mumbai and the National Stock Exchange. The bank's American Depository Shares are listed on the New York Stock Exchange (NYSE) under the symbol 'HDB'.

TIMES BANK AMALGAMATION

In a milestone transaction in the Indian banking industry, Times Bank Limited (another new private sector bank promoted by Bennett, Coleman & Co./Times Group) was merged with HDFC Bank Ltd., effective February 26, 2000. As per the scheme of amalgamation approved by the shareholders of both banks and the Reserve Bank of India, shareholders of Times Bank received 1 share of HDFC Bank for every 5.75 shares of Times Bank. The acquisition added significant value to HDFC Bank in terms of increased branch network, expanded geographic reach, enhanced customer base, skilled manpower and the opportunity to cross-sell and leverage alternative delivery channels.

DISTRIBUTION NETWORK

HDFC Bank is headquartered in Mumbai. The Bank at present has an enviable network of over 1229 branches spread over 444 cities across India. All branches are linked on an online real-time basis. Customers in over 120 locations are also serviced through Telephone Banking. The Bank's expansion plans take into account the need to have a presence in all major industrial and commercial centers where its corporate customers are located as well as the need to build a strong retail customer base for both deposits and loan products. Being a clearing/settlement bank to various leading stock exchanges, the Bank has branches in the centers where the NSE/BSE has a strong and active member base. The Bank also has a network of about over 2526 networked ATMs across these cities. Moreover, HDFC Bank's ATM network can be accessed by all domestic and international Visa/MasterCardVisa Electron/Maestro, Plus/Cirrus and American Express Credit/Charge cardholders.

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MANAGEMENT

Mr. Jagdish Capoor took over as the bank's Chairman in July 2001. Prior to this, Mr. Capoor was a Deputy Governor of the Reserve Bank of India. The Managing Director, Mr. Aditya Puri, has been a professional banker for over 25 years and before joining HDFC Bank in 1994 was heading Citibank's operations in Malaysia. The Bank's Board of Directors is composed of eminent individuals with a wealth of experiencein public policy, administration, industry and commercial banking. Senior executives representing HDFC are also on the Board. Senior banking professionals with substantial experience in India and abroad head various businesses and functions and report to the Managing Director. Given the professional expertise of the management team and the overall focus on recruiting and retaining the best talent in the industry, the bank believes that its people are a significant competitive strength.

TECHNOLOGY

HDFC Bank operates in a highly automated environment in terms of information technology and communication systems. All the bank's branches have online connectivity, which enables the bank to offer speedy funds transfer facilities to its customers. Multi-branch access is also provided to retail customers through the branch network and Automated Teller Machines (ATMs). The Bank has made substantial efforts and investments in acquiring the best technology available internationally, to build the infrastructure for a world class bank. The Bank's business is supported by scalable and robust systems which ensure that our clients always get the finest services we offer. The Bank has prioritized its engagement in technology and the internet as one of its key goals and has already made significant progress in web-enabling its core businesses. In each of its businesses, the Bank has succeeded in leveraging its market position, expertise and technology to create a competitive advantage and build market share.

BUSINESS FOCUS

HDFC Bank's mission is to be a World-Class Indian Bank. The objective is to build sound customer franchises across distinct businesses so as to be the preferred provider of banking services for target retail and wholesale customer segments, and to achieve healthy growth in profitability, consistent with the bank's risk appetite. The bank is committed to maintain the highest level of ethical standards, professional integrity, corporate governance and regulatory compliance. HDFC Bank's business philosophy is based on four core values - Operational Excellence, Customer Focus, Product Leadership and People.

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RATING

I. Credit Rating The Bank has its deposit programs rated by two rating agencies - Credit Analysis & Research Limited (CARE) and Fitch Ratings India Private Limited. The Bank's Fixed Deposit programme has been rated 'CARE AAA (FD)' [Triple A] by CARE, which represents instruments considered to be "of the best quality, carrying negligible investment risk". CARE has also rated the bank's Certificate of Deposit (CD) programme "PR 1+" which represents "superior capacity for repayment of short term promissory obligations". Fitch Ratings India Pvt. Ltd. (100% subsidiary of Fitch Inc.) has assigned the "tAAA ( ind )" rating to the Bank's deposit programme, with the outlook on the rating as "stable". This rating indicates "highest credit quality" where "protection factors are very high". The Bank also has its long term unsecured, subordinated (Tier II) Bonds rated by CARE and Fitch Ratings India Private Limited and its Tier I perpetual Bonds and Upper Tier II Bonds rated by CARE and CRISIL Ltd. CARE has assigned the rating of "CARE AAA" for the subordinated Tier II Bonds while Fitch Ratings India Pvt. Ltd. has assigned the rating "AAA (ind)" with the outlook on the rating as "stable". CARE has also assigned "CARE AAA [Triple A]" for the Banks Perpetual bond and Upper Tier II bond issues. CRISIL has assigned the rating "AAA / Stable" for the Bank's Perpetual Debt programme and Upper Tier II Bond issue. In each of the cases referred to above, the ratings awarded were the highest assigned by the rating agency for those instruments.

II. Corporate Governance Rating The bank was one of the first four companies, which subjected itself to a Corporate Governance and Value Creation (GVC) rating by the rating agency, The Credit Rating Information Services of India Limited (CRISIL). The rating provides an independent assessment of an entity's current performance and an expectation on its "balanced value creation and corporate governancepractices" in future. The bank has been assigned a 'CRISIL GVC Level 1' rating which indicates that the bank's capability with respect to wealth creation for all its stakeholders while adopting sound corporate governance practices is the highest.

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2.2 PRODUCT SCOPE
HDFC Bank offers a bunch of products and services to meet the every need of the people. The company cares for both, individuals as well as corporate and small and medium enterprises. For individuals, the company has a range accounts, investment, and pension scheme, different types of loans and cards that assist the customers. The customers can choose the suitable one from a range of products which will suit their life-stage and needs. For organizations the company has a host of customized solutions that range from Funded services, Non-funded services, Value addition services, Mutual fund etc. These affordable plans apart from providing long term value to the employees help in enhancing goodwill of the company. The products of the company are categorized into various sections which are as follows:

     

Accounts and deposits. Loans. Investments and Insurance. Forex and payment services. Cards. Customer center.

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2.3 PRODUCTS AND SERVICES AT A GLANCE
1. PERSONAL BANKING A. Accounts & Deposits                              Regular Savings Account Savings Plus Account SavingsMax Account Senior Citizens Account -No Frills Account Institutional Savings Account Payroll Salary Account Classic Salary Account Regular Salary Account Premium Salary Account Defence Salary Account Kid's Advantage Account Pension Saving Bank Account Family Savings Account Kisan No Frills Savings Account Kisan Club Savings Account Plus Current Account -Trade Current Account Premium Current Account Regular Current Account -Apex Current Account Max Current Account Reimbursement Current Account RFC - Domestic Account Regular Fixed Deposit Super Saver Account Sweep-in Account HDFC Bank Preferred Private Banking

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B. Loans               Personal Loans Home Loans -Two Wheeler Loans -New Car Loans -Used Car Loans Overdraft against Car -Express Loans Loan against Securities Loan against Property Commercial Vehicle Finance -Working Capital Finance Construction Equipment Finance Offers & Deals Customer Center

C. Investments & Insurance        Mutual Funds -Insurance -Bonds Financial Planning Knowledge Centre Equities & Derivatives -Mudra Gold Bar

D. Forex Services         -Trade Finance -Travelers’ Cheques Foreign Currency Cash Foreign Currency Drafts Foreign Currency Cheque Deposits Foreign Currency Remittances Cash To Master -ForexPlus Card

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E. Payment Services      -Net Safe Prepaid Refill Bill Pay -Direct Pay -Visa Money Transfer

F. Access Your Bank       -One View Insta Alerts Mobile Banking -ATM Phone Banking Branch Network

G. Cards             Silver Credit Card Gold Credit Card -Woman's Gold Credit Card Platinum plus Credit Card -Titanium Credit Card -Value plus Credit Card Health plus Credit Card HDFC Bank Idea Silver Card HDFC Bank Idea Gold Card Compare Cards -Transfer & Safe -Track your Credit Card

H. Get More from Your Card          Offers & Savings My Rewards Insta Wonderz -Add-On Cards Credit Card Usage Guide Easy EMI Net safe Smart Pay Secure Plus
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        

-My City Benefit Card Debit Cards -Easy ShopInternational Debit Card -Easy Shop Gold Debit Card -Easy ShopInternational Business Debit Card -Easy ShopWoman's Advantage Debit Card Prepaid Cards Forex Plus Card -Kisan Card

I. Customer Centre   Offers & Deals -Winners of Contests & Promotions

2. WHOLESALE BANKING A. Corporate     Funded Services Non Funded Services Value Added Services Internet Banking

B. Small & Medium Enterprises     Funded Services Non-Funded Services Specialized Services Internet Banking

C. Financial Institutions & Trusts     Banks Financial Institutions Mutual Funds Stock Brokers

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2.4 MILESTONES IN THE HISTORY
HDFC Bank began its operations in 1995 with a simple mission: to be a "World-class Indian Bank". They realized that only a single-minded focus on product quality and service excellence would help us get there. Today, they are proud to say that they are well on our way towards that goal. It is extremely gratifying that their efforts towards providing customer convenience have been appreciated both nationally and internationally.

HDFC Bank began operations in 1995 with a simple mission: to be a"World-class Indian Bank". Having a single-minded focus on product quality and service excellence, they are well on the way towards that goal. 2012 IDRBT Banking Technology Excellenc e Awards 2011-12 Asia Money 2012 Best Bank in 'IT for Operational Effectiveness' category

Best Domestic Bank in India

India's Top 500 Best Bank in India Companies -Dun & Bradstreet Corporate Awards Finance Asia UTI Mutual Fund CNBC TV 18 Financial Advisor Awards 2011 - Best Managed Company - Best CEO - Mr. Aditya Puri - Best Performing Bank - Private

Asian Banker - Best Retail Bank in India International - Best Bancassurance Excellence in Retail - Best Risk Management Financial Services Awards 2012

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5th Loyalty Summit award Skoch foundation 2012

Customer and Brand Loyalty SHG/JLG linkage programme

ICAI Awards 2011 Excellence in Financial Reporting

2011 Outlook Money Best Bank Award 2011 Best Commercial Vehicle Financier - Best Bank - Runner Up

- Driving Positive Change

Businessworld Best - Best Bank Bank award BCI Continuity & Resilience Award Financial Express Best Bank Survey 2010-11 - Most Effective Recovery of the Year - Best in Strength and Soundness - 2nd Best in the Private Sector

CNBC TV18's Best - Best Bank Bank & Financial - Mr. Aditya Puri, Outstanding Finance Professional Institution Awards Dun & Bradstreet Banking Awards 2011 Best Private Sector Bank - SME Financing

ISACA 2011 award Best practices in IT Governance and IT Security for IT Governance IBA Productivity Excellence Awards 2011 New Channel Adopter (Private Sector)

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DSCI (Data Security in Bank Security Council of India) Excellence Awards 2011 Euromoney Awards Best Bank in India for Excellence 2011 FINANCE ASIA Country Awards 2011: India Asian Banker BloombergUTV's Financial Leadership Awards 2011 IBA Banking Technology Awards 2010 - BEST BANK - BEST CASH MANAGEMENT BANK - BEST TRADE FINANCE BANK Strongest Bank in Asia Pacific Best Bank

Winner 1) Technology Bank of the Year 2) Best Online Bank 3) Best Customer Initiative 4) Best Use of Business Intelligence 5) Best Risk Management System Runners Up Best Financial Inclusion Excellence in Customer Experience

IDC FIIA Awards 2011

2010 Outlook Money 2010 Awards Best Bank

Businessworld Best Best Bank (Large) Bank Awards 2010 Teacher's Achievement Awards 2010 (Business) Mr. Aditya Puri

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The Banker and PWM 2010 Global Private Banking Awards Economic Times Awards for Corporate Excellence 2010 Forbes Asia NDTV Business Leadership Awards 2010 The Banker Magazine MIS Asia IT Excellence Award 2010 Dun & Bradstreet Banking Awards 2010 Institutional Investor Magazine Poll

Best Private Bank in India

Business Leader of the Year - Mr. Aditya Puri

Fab 50 Companies - 5th year in a row Best Private Sector Bank

World's Top 1000 Banks BEST BOTTOM-LINE I.T. Category

Bank Best Private Sector Bank in SME Financing HDFC Bank MD, Mr. Aditya Puri among "Asian Captains of Finance 2010"

IDRBT Technology Winner - 1) IT Infrastructure 2) Use of IT within the Bank 2009 Awards Runners-up - IT Governance (Large Banks) ACI Excellence Awards 2010 FE-EVI Green Business Leadership Award Highly Commended - Asia Pacific HDFC Bank Best performer in the Banking category

Celent's 2010 Model Bank Award Banking Innovation Award

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Avaya Global Connect 2010 Forbes Top 2000 Companies Financial Express Ernst & Young Survey 2009-10

Customer Responsiveness Award - Banking & Financial Services category Our Bank at 632nd position and among 130 Global High Performers

Best in strength Asian Banker Excellence Awards 2010 Technology Implementation The Asset Triple A Awards Euromoney Private Banking and Wealth Management Poll 2010 Financial Insights Innovation Awards 2010 Global Finance Award 2 Banking Technology Awards 2009 SPJIMR Marketing Impact Awards (SMIA) 2010 Business Today Best Employer Survey Best Cash Management Bank in India 1) Best Local Bank in India (second year in a row) 2) Best Private Banking Services overall (moved up from No. 2 last year)

Innovation in Branch Operations - Server Consolidation Project

Best Trade Finance Provider in India for 2010 1) Best Risk Management Initiative and 2) Best Use of Business Intelligence. 2nd Prize

Listed in top 10 Best Employers in the country

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2.5 .MERGER
HDFC Bank and Centurion Bank of Punjab merger at share swap ratio of 1:29 The Boards of HDFC Bank and Centurion Bank of Punjab met on 25 February, 2008 and approved, subject to due diligence, the share swap ratio for the proposed merger of Centurion Bank of Punjab with HDFC Bank. The Scheme of Amalgamation envisages a share exchange ratio of one share of HDFC Bank for twenty nine shares of Centurion Bank of Punjab. The combined entity would have a nationwide network of 1,148 branches (the largest amongst private sector Banks) a strong deposit base of around Rs. 1,200 billion and net advances of around Rs. 850billion. The balance sheet size of the combined entity would be over Rs. 1,500 billion. Commenting on the proposed merger, Mr. Deepak Parekh, Chairman, HDFC said, “We were amongst the first to get a banking license, the first to do a merger in the private sector with Times Bank in 1999, and now if this deal happens, it would be the largest merger in the private sector banking space in India. HDFC Bank was looking for an appropriate merger opportunity that would add scale, geography and experienced staff to its franchise. This opportunity arose and we thought it is an attractive route to supplement HDFC Bank’s organic growth. We believe that Centurion Bank of Punjab would be the right fit in terms of culture, strategic intent and approach to business.” Mr. Aditya Puri, Managing Director, HDFC Bank said, “These are exciting times for the Indian banking industry. The proposed merger will position the combined entity to significantly exploit opportunities in a market globally recognized as one of the fastest growing. I’m particularly bullish about the potential of business synergies and cultural fit between the two organizations. The combined entity will be an even greater force in the market.” Mr. Rana Talwar, Chairman, Centurion Bank of Punjab stated, “Over the last few years, Centurion Bank of Punjab has set benchmarks for growth. The bank today has a large nationwide network, an extremely valuable franchise, 7,500 talented employees, and strong leadership positions in the market place. I believe that the merger with HDFC Bank will create a world class bank in quality and scale and will set the stage to compete with banks both locally as well on a global level.” Mr. Shailendra Bhandari, Managing Director and CEO, Centurion Bank of Punjab said, “We are extremely pleased to receive the go ahead from our board to pursue this opportunity. A merger between the banks provides significant synergies to the combined entity. The roposed merger would further improve the franchise and customer proposition offered by the individual banks.”

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2.6 QUALITY POLICY
• SECURITY: The bank provides long term financial security to their policy. The bank does this by offering life insurance and pension products. • TRUST: The bank appreciates the trust placed by their policy holders in the bank. Hence, it will aim to manage their investments very carefully and live up to this trust. • INNOVATION: Recognizing the different needs of our customers, the bank offers a range of innovative products to meet these needs. • INTEGRITY • CUSTOMER CENTRIC • PEOPLE CARE “ONE FOR ALL AND ALL FOR ONE” • TEAM WORK • JOY AND SIMPLICITY

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CHAPTER 3 - RESEARCH OBJECTIVES AND SCOPE OF RESEARCH PROJECT

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3.1 PROBLEM DEFINATION:
Sales Executives were with good background human being and through rigorous process of recruitment but still not able to perform up to the expectation level of company, HR is not able to sort out the problem why the performance is not coming even after giving the full marketing support. The communication technique and dealing with the customers is also a problem to the sales executives.

3.2 OBJECTIVES OF RESEARCH PROJECT:

3.2.1 Primary Objectives • To open new savings accounts by convincing customers and to promote the benefits of those which are provided by the bank. • To find the different way of convincing customers. • To study brand image of the bank. • To increase the business of the bank.

3.2.2 Secondary Objectives • To determine the need and purpose of a sales executive. • To understand the deciding criteria for people to become sales executive. • To offer suggestions based upon the findings.

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3.3 GEOGRAPHICAL SCOPE:
The same problem was with the all other branches of HDFC Bank even out of the Mandi Gobindgarh city. The management is conducting the same research on a big ground while my contribution is tiny. Though my sample size and geographical area was defined and confine to a particular territory but the application of out put from the research are going to be wide.

3.4 PRODUCT SCOPE:
     Studying the increasing business scope of the bank. Market segmentation to find the potential customers for the bank. To study how the various products are positioned in the market. Corporate marketing of products. Customers’ perception on the various products of the bank.

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CHAPTER4- RESEARCH METHODOLOGY AND LIMITATIONS

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All the findings and conclusions obtained are based on the survey done in the working area within the time limit. I tried to select the sample representative of the whole group during my job training. I have collected data from people linked with different profession at Mandi Gobindgarh.

4.1 RESEARCH PLAN:
4.1.1. Preliminary Investigation: In which data on the situation surrounding the problems shall be gathered to arrive at   The correct definition of the problem. An understanding of its environment.

4.1.2. Exploratory Study: To determine the approximate area where the problem lies.

4.2 RESEARCH DESIGN:
Research was initiated by examining the secondary data to gain insight into the problem. By analyzing the secondary data, the study aim is to explore the short comings of the present system and primary data will help to validate the analysis of secondary data besides on unrevealing the areas which calls for improvement.

4.2.1 DEVELOPING THE RESEARCH PLAN:
The data for this research project has been collected through self Administration. Due to time limitation and other constraints direct personal interview method is used. A structured questionnaire was framed as it is less time consuming, generates specific and to the point information, easier to tabulate and interpret. Moreover respondents prefer to give direct answers. In questionnaires open ended and closed ended, both the types of questions has been used.

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4.2.2 COLLECTION OF DATA:

1: Secondary Data: It was collected from internal sources. The secondary data was collected on the basis of organizational file, official records, news papers, magazines, management books, preserved information in the company’s database and website of the company.

2: Primary data: All the people from different profession were personally visited and interviewed. They were the main source of Primary data. The method of collection of primary data was direct personal interview through a structured questionnaire.

4.3 SAMPLING PLAN:
Since it is not possible to study whole universe, it becomes necessary to take sample from the universe to know about its characteristics. Sampling Units: Different professionals Chartered Accountants, Tax Consultants, Lawyers, Business Man, Professionals and House Wives of Mandi Gobindgarh. • Sample Technique: Random Sampling. • Research Instrument: Structured Questionnaire. • Contact Method: Personal Interview.

4.4 SAMPLE SIZE:
My sample size for this project was 200 respondents. Since it was not possible to cover the whole universe in the available time period, it was necessary for me to take a sample size of 200 respondents.

4.5 DATA COLLECTION INSTRUMENT DEVELOPMENT:
The mode of collection of data will be based on Survey Method and Field Activity. Primary data collection will base on personal interview. I have prepared the questionnaire according to the necessity of the data to be collected.

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4.6 RESEARCH LIMITATIONS:
• It was not possible to understand thoroughly about the different marketing aspects of the Financial Consultant within 45 days. • As stipend, money was not given it was difficult to continue the project work. • All the work was limited in some limited areas of mandi gobindgarh so the findings should not be generalized. • The area of research was Mnadi Gobindgarh and it was too vast an area to cover within 45 days.

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CHAPTER5-DATA ANALYSIS, INTERPRETATION AND PRESENTATION

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Q1.Your Age? TABLE Serial No. 1. 2. 3. 4. Base 200 respondents GRAPH
200 150 100 50 0 No.of Respondents

Age Category 18-23 Years 24-29 Years 30-35 Years 35 Years and above Total

No.of Respondents 40 70 60 30 200

Percentage 20% 35% 35% 15% 100%

Interpretation

From the table and graph above it can be seen that

· 20% respondent’s age are 18 to 23 years. · 35% respondent’s age are 27 to 29 years. · 30% respondent’s age are 30 to 35 years. · 15% respondent’s age are 35 to above years.

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Q2. Marital Status? TABLE Serial No. 1. 2. Category Married Unmarried Total No.of Respondents 140 60 200 Percentage 70% 30% 105

GRAPH

200 150 100 50 0 No.of Respondents

Interpretation

From the table and graph above it can be seen that

· 70% respondents are married. · 30% respondents are unmarried.

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Q3. Educational Qualification? TABLE Serial No. 1. 2. 3. Base 200 respondents GRAPH
200 150 100 50 0

Category Under graduate Graduate Post graduate Total

No.of Respondents 50 80 70 200

Percentage 25% 40% 35% 100%

No.of Respondents

Interpretation

From the table and graph above it can be seen that

· 25% respondents are Under graduate. · 40% respondents are Graduate. · 35% respondents are Post graduate.

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Q4. Number Of year’s Are You in Mandi Gobindgarh ? TABLE Serial No 1. 2. Base 200 respondents Category Less than five years More than five years Total No.of Respondents 78 122 200 Percentage 39% 61% 100%

GRAPH

200 150 100 50 0 Less than five years More than five years Total No.of Respondents

Interpretation

From the table and graph above it can be seen that · 39% respondents are in Pune for less than five years. · 61% respondents are in Pune for more than five years.

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Q5. Your Occupation? TABLE Serial No. 1. 2. 3. Base 200 respondents GRAPH
200 150 100 50 0 No.of Respondents

Category Business Profession Service Total

No.of Respondents 40 108 52 200

Percentage 20% 54% 26% 100%

Interpretation

From the table and graph above it can be seen that · 20% respondents Occupation is Business. · 26% respondents Occupation is Profession. · 54% respondents Occupation is Service.

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Q6. Your annual household income?

TABLE Serial No. 1. 2. 3. 4. Base 200 respondents GRAPH
200 150 100 50 0

Category Less than 2 lacs Between 2 to 5 lacs Between 5to 8 lacs More than 8 lacs Total

No.of Respondents 98 62 30 10 200

Percentage 49% 31% 15% 5% 100%

No.of Respondents

Interpretation

From the table and graph above it can be seen that

· 49% respondent’s annual household income is less than 2 lacs. · 31% respondent’s annual household income is between 2 to 5 lacs. · 15% respondent’s annual household income is between 5 to 8 lacs. · 5% respondent’s annual household income is more than 8 lacs.

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Q7. Are you a member of a club/gymkhana? TABLE Serial No. 1. 2. Base 200 respondents GRAPH Category Yes No Total No. of Respondents 84 116 200 Percentage 42% 58% 100%

200 150 100 50 0 Yes No Total No. of Respondents

Interpretation

From the table and graph above it can be seen that

· 42% respondents are member of a club/gymkhana. · 58% respondents are not member of a club/gymkhana.

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Q8. What is your perception about different products/services provided by HDFC bank? TABLE Serial No. 1. 2. 3. Base 200 respondents GRAPH
200 150 100 50 0 No. of Respondents

Category Lucrative Not lucrative No idea Total

No. of Respondents 50 120 30 200

Percentage 25% 60% 15% 100%

Interpretation

From the table and graph above it can be seen that .25% respondent’s perception about different products is lucrative. . 60% respondent’s perception about different products is not lucrative. . 15% respondent’s have no idea.

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Q9. Do you want to open an account with HDFC bank? TABLE Serial No. 1. 2. 3. Base 200 respondents GRAPH Category Yes No Will tell later Total No.of Respondents 10 160 30 200 Percentage 5% 80% 15% 100%

200 150 100 50 0 Yes No Will tell later Total No.of Respondents

Interpretation

From the table and graph above it can be seen that · 80% respondents are not interested to open an account with the bank. · 5% respondents are interested to open an account with the bank. · 15% of the respondents say that they will tell later.

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Q10. Do you have all the documents which are required to open an account? TABLE Serial No. 1. 2. Base 200 respondents GRAPH Category Yes No Total No. of Respondents 120 80 200 Percentage 60% 40% 100%

200 150 100 50 0 Yes No Total No. of Respondents

Interpretation

From the table and graph above it can be seen that

• 60% respondents have all the documents which are required to open an account with the bank. • 25% respondents do not have all the documents which are required to open an account with the bank

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Q11. Are you aware that the bank provides you a free Demat account if you open a new savings account with HDFC bank? TABLE Serial No. 1. 2. Base 200 respondents GRAPH Category Yes No Total No. of Respondents 40 160 200 Percentage 20% 80% 100%

200 150 100 50 0 Yes No Total No. of Respondents

Interpretation From the table and graph above it can be seen that

• 20% respondents are aware that the bank provides a free Dmat account with new savings account. • 40% respondents are not aware of it.

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Q12.Are you aware of different terms and conditions which are very much essential to maintain an account at HDFC Bank? TABLE Serial No. 1. 2. Base 200 respondents GRAPH Category Yes No Total No. of Respondents 25 175 200 Percentage 12% 88% 100%

200 150 100 50 0 Yes No Total No. of Respondents

Interpretation

From the table and graph above it can be seen that

• 12% respondents are familiar with different terms and conditions which are very much essential to maintain account with the bank. • 88% respondents have no idea about it.

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Q13. Do you know about HDFC Bank’s recruitment policies related to sales executives? TABLE Serial No. 1. 2. Base 200 respondents GRAPH Category Yes No Total No. of Respondents 82 118 200 Percentage 41% 59% 100%

200 150 100 50 0 Yes No Total No. of Respondents

Interpretation

From the table and graph above it can be seen that

• 41% respondents are known about HDFC Bank’s recruitment policies related to sales executives. • 59% respondents are not known about HDFC Bank’s recruitment policies related to sales executives.

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CHAPTER6- CONCLUSIONS, SUGGESTIONS AND LIMITATIONS

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6.1 CONCLUSIONS:
HDFC Bank, the banking arm of HDFC is expected to go on stream. The bank already has good number of employees on board and is recruiting Sales Executives heavily to take the headcount to many more. It is on the brim of increasing its customers through its attractive schemes and offer. The project opportunities provided was market segmentation and identifying prospective Customers in potential geographical location and convincing them to open an account so that new Business Opportunities of the bank can be explored. Through this project, it could be concluded that people are not much aware about the various products of the bank and many of them not interested to open an account at all. Services was considered as unsought good which require hard core selling, but in changing trend in income and people becoming financially literate, the demand for banking sector is increasing day by day. According to my findings Company’s promotional activities for recruiting sales executives are also very less. So, at last the conclusion is that there is tough competition ahead for the company from its major competitors in the banking sector. Last but not the least I would like to thank HDFC Bank for giving me an opportunity to work in the field of Marketing. I hope the company finds my analysis relevant.

6.2 SUGGESTIONS:
Finally some recommendations for the company are as fallows: • To make people aware about the benefit of becoming HDFC Bank’s Sales Executive, following activities of advertisement should be done through 1. Print Media. 2. Hoarding & Banners. 3. Stalls in Trade Fares 4. Distribution of leaflets containing details information. . • The bank should provide life time valid ATM card to all its customers. • Minimum balance for savings account should be reduced from Rs 5000 to Rs 1000, so that people who are not financially strong enough can maintain their account properly

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• The company should provide a pass book to all its customers • Make people understand about the various benefits of its products. •Company should organize the program in the society, so that people will be aware about the company and different products of the bank • Company should open more branches in different cities.

6.3 LIMITATIONS
Every work has its own limitation. Limitations are extent to which the process should not exceed. Limitations of this project are:      The project was constrained by time limit of two months. Mindset of people may very depending upon their age, gender, income etc. Getting appointment from the concern person was very difficult. People mind set about the survey was an obstacle in acquiring complete information & positive interaction. Respondents were very busy in their schedule. So it was very time consuming for them to answer all the questions perly.

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ANNEXURES

1. QUESTIONNAIRE QUESTIONNAIRE

Dear Sir/Madam,

Name: ……………………………………………………………………….. Address: …………………………………………………………………….. Contact No :®………………( O)……………… (M)……………………… City: ………...............Pin: ………………….State: ……………………….

I am a student of Suryadatta Institute of Management and Mass Communication, Pune and presently doing a project on “OPENING SAVINGS ACCOUNT BY MEETING CUSTOMERS”. I request you to kindly fill the questionnaire below and I assure you that the data generated shall be kept confidential.

.

1. Your Age: ____________________ 2. Education Qualification. · Undergraduate . · Graduate . · Post graduate .

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3. Marital Status. · Married . · Single . No. of Children: __________

4. Number Of year’s Are You in Mandigobindgarh · Less than five year’s . · More than five year’s .

5. Occupation. · Business . · Profession . · Service . (Please mention below the type of business/profession you are in incase of service please mention your organization name and designation)

6.Your annual household income. · <than 2 lack . · Between 2 to 5 lack . · Between 5 to 8 lack . · >than 8 lack .

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7. Are you a member of a club/gymkhana? · Yes . · No . If yes, Name of the club /gymkhana_______________________________________

8. What is your perception about different products and services offered by HDFC Bank? · Lucrative . · Not lucrative . · No idea .

9. Do you want to open an savings account with HDFC Bank? · Yes . · No . · Will tell later .

10. Do you have all the documents which are required to open an account? · Yes . · No .

11. Are you aware of that HDFC Bank provide you a free Dmat account if you open a new savings account with the bank? · Yes . · No .

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12. Are you aware of different terms and conditions which are very much essential to maintain an account at HDFC Bank? · Yes . · No .

13. Do you know about HDFC Bank’s recruitment policies related to sales executives? · Yes . · No . Date: Place: Signature

Thank You

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BIBLIOGRAPHY

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BIBLIOGRAPHY

1 .BOOKS AUTHORS · Marketing Management (10th Edition) Philip Kotler · Marketing Management (3rd Edition) V.S. Ramaswamy · Research Methodology (2nd Edition) C.R.Kothary · Research Methodology S.P. Kasande 2. NEWS PAPERS · Times of India · Financial Express 3. WEBSITES · www.hdfcbank.com · www.google.com

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