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CERTIFICATE Certified that the project report titled A Study on customer awareness and preference of Indian Bank Products

is a bonafide of work carried out by Ms. S.SIVAKAMA SUNDARI, who carried out the research under my supervision. Certified further, that to the best of my knowledge the work reported herein does not form part of any other project report or dissertation on the basis of which a degree or award was conferred on an earlier occasion on this or any other candidate.

Signature of the Internal Guide/ Name:

Signature of the H.O.D

Signature of the External Guide/ Name:

Abstract: A Study on customer awareness and preference of Indian Bank products helps the researcher to gain good experience and information about Indian Bank in the selected areas of study. This project work is carried out with specific point of reference to Indian Bank and for comparison studies in various aspects includes the details of other leading banks also. After a preliminary understanding of the banking industry, with the help of an apt questionnaire, a survey with a sample size of one fifty is carried on cutting across both urban and suburban markets.

The study made the researcher to get a clear picture regarding various aspects such as the types of account the respondent possess with the Indian Bank, the reason for them to possess certain relation with other banks, the level of satisfaction they receive from Indian Bank under various aspects such as service, displays, employee co operation, timings and turn around time. The study also helped the researcher to know about the awareness of the customers of Indian Bank regarding their various deposits, loans and services. The questionnaire also helped to find what type of occupation that the respondents of Indian Bank possess, different age groups that has different kind of relation with the Bank, etc. Since the study is divided into two markets, urban and sub urban, it helped the researcher to compare various reasons the respondents give for their preferences.

ACKNOWLEDGEMENT

I express my sincere thanks to our Principal, Dr.R.Venkataramani S.R.M. Institute of Science and Technology and our Dean Dr.Jayashree Suresh, S.R.M. Institute of Management Studies for her moral support and academical support during period of my project course.

I have an immense pleasure and satisfaction in expressing my heartful thanks to my Institutional Guide Mr.G.Ganesh and other faculty members for rendering their valuable assistance and guidance to me, giving their thoughts and suggestions during the various stages of the project.

My heartful thanks to my organizational guides Mr. PALANIAPPAN, Branch ManagerIndian Bank, Maraimalai nagar branch Kancheepuram for spending his valuable time to guide me in an excellent way during the project work.

I hereby like to express my sincere thanks for providing all necessary facilities and encouragement to the Management of Indian Bank.

My sincere regards goes to all my family members and friends who directly and indirectly helped me for successful completion of this project work.

CHAPTER NO 1 2 3 4 5 6 7 8 9 10 11 12 13

TABLE OF CONTENTS TITLE Introduction Statement of Problem Objective Period of Study Review of Literature Methodology Limitations Company Profile Data Analysis and Interpretation Findings Suggestions Conclusion Bibliography

PAGE NO 1 3 4 5 6 8 12 13 15 51 54 56 57

LIST OF TABLES Sl No 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. Page No 15 17 19 21 23 25 27 29 31 33 35 37 39 40 41 43 45 47 49

Title Type of account/relation the customers have with Indian bank Period of holding an account with the Indian Bank (urban) Period of holding an account with the Indian Bank (sub urban) Customers of Indian Bank possess account with any other Bank (urban) Customers of Indian Bank possess account with other Bank (sub urban) Table showing the Customer awareness of the Indian Bank deposits Table showing the Customer awareness of the Indian Bank loans Table showing the Customer awareness of the Indian Bank services Level of satisfaction of certain factors with Indian Bank (urban) Level of satisfaction of certain factors with Indian Bank (sub urban) Table showing the occupation of the respondents of Indian Bank (urban) Table showing the occupation of respondents of Indian Bank (suburban) Table showing the age of the respondents in Indian Bank (urban) Table showing the age of the respondents in Indian Bank (sub urban) Table showing respondents having account with other Banks (urban) Table showing respondents having account with other Banks (sub urban) Table showing the reasons for preferring the other Banks (urban) Table showing the reasons for preferring the other Banks (sub urban) Table showing type of deposits the respondents have with Indian Bank

LIST OF FIGURES Sl No 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. Title Type of account/relation the customers have with Indian bank Period of holding an account with the Indian Bank (urban) Period of holding an account with the Indian Bank (sub urban) Customers of Indian Bank possess account with any other Bank (urban) Customers of Indian Bank possess account with other Bank (sub urban) Chart showing the Customer awareness of the Indian Bank deposits Chart showing the Customer awareness of the Indian Bank loans Chart showing the Customer awareness of the Indian Bank services Level of satisfaction of certain factors with Indian Bank (urban) Level of satisfaction of certain factors with Indian Bank (sub urban) Chart showing the occupation of the respondents of Indian Bank (urban) Chart showing the occupation of respondents of Indian Bank (suburban) Chart showing respondents having account with other Banks (urban) Chart showing respondents having account with other Banks (sub urban) Chart showing the reasons for preferring the other Banks (urban) Chart showing the reasons for preferring the other Banks (sub urban) Chart showing type of deposits the respondents have with Indian Bank CHAPTER - I Introduction 1.1 Origin of Banking: Banking in India has its origin as early as the Vedic period. It is believed that the transition from money lending to banking must have occurred even before Manu, the great Hindu Jurist, who has devoted a section of his work to deposits and advances and laid down rules Page No 16 18 20 22 24 26 28 30 32 34 36 38 42 44 46 48 50

relating to rates of interest. During the Mogul period, the indigenous bankers played a very important role in lending money and financing foreign trade and commerce. During the days of the East India Company, it was the turn of the agency houses to carry on the banking business. The General Bank of India was the first Joint Stock Bank to be established in the year 1786. The others that were followed is the Bank of Hindustan and the Bengal Bank. The Bank of Hindustan is reported to have continued till 1906 while the other two failed in the meantime. In the first of the nineteenth century, the East India Company established three banks; the Bank of Bengal in 1809, the Bank of Bombay in 1840 and the Bank of Madras in 1843.These three banks also known as the Presidency Banks were independent units and functioned well. These three banks were amalgamated in 1920 and a new bank, the Imperial Bank of India was established on 27th January 1921. With the passing of the State Bank of India Act in 1955 the undertaking of the Imperial Bank of India was taken over by the newly constituted State Bank of India. The Reserve Bank of India, which is the Central Bank was created in 1935 by passing the Reserve Bank of India Act 1934. In the wake of the Swadeshi Movement, a number of Bank with the Indian management were established in the country namely, Punjab National Bank ltd., the Bank of Baroda ltd., Bank of India ltd., Canara Bank ltd., Indian Bank ltd., and the Central Bank of India ltd. On July 19, 1969, 14 major banks of the country were nationalized and in 15th April 1980 six more commercial private sector banks were also taken over by the government.

CHAPTER 2 Statement of Problem Since it is said A problem well defined is half solved. The problem is specified clearly with which aspect it should be carried out. The title of this project clearly states that the purpose of the study is to determine the consumer awareness and preference of the Indian Bank products in selected areas of urban and sub urban markets. Therefore a research is conducted to give and exposure to this case. The study is an attempt to know the customers awareness with the Indian Bank products such as deposits, loans and services, their satisfaction level, their reasons for preferring other banks etc. CHAPTER 3 OBJECTIVE OF THE STUDY PRIMARY OBJECTIVE The main objective of the study is A Study on customer awareness and preference of Indian Bank products.

SECONDARY OBJECTIVE

With the above primary objective, the research must be done o to know the customers awareness with the Indian Bank products such as deposits, loans and services. o to know the satisfaction level of the customers with Indian Bank, their reasons for preferring other banks etc.

CHAPTER 4 Period of Study This Study was only to a short period of 2 months from February 2005 April 2005, within this period the related data were collected. Areas of the Study The Study was conducted in many branches of Chennai, Kancheepuram, Chengelpet, Villupuram and Vellore. CHAPTER 5 REVIEW OF LITERATURE 5.1 PRINCIPLES OF MARKETING BY Philip Kotler Gary Armstrong A principle of Marketing is one of the well-known books in field of Marketing. The book projects various practical examples and applications showing the major decisions that the managers face in their efforts to balance the organizational objectives. The book has explained the various marketing strategies for various companies, tactical marketing and also the obstacles that arise in the administrative side of marketing. The book also gives an idea of the modern market and the current problems in the field of marketing. Hence, the basic marketing concept has been used from this book for this research purpose. 5.2 RESEARCH METHODOLOGY By Kothari C.R. This book gives a detailed study on the research methods and techniques. The book gives an idea about the research methodology, research meaning, defining the problem, selection of the problem, sample design, methods of data collection, data analysis etc. This book has helped the researcher in framing the entire report.

5.3 MARKETING RESEARCH By D.D. Sharma The book deals with the research methods and techniques. The book comprises of every facts of research starting from the setting of objectives, preparation of questionnaire, the type of questions to be used, and the strategies to be used. The sampling methods and design, the various statistical tools etc are also described in this book, which proved to be of good help in planning the entire report.

CHAPTER 6

6.1 RESEARCH METHODOLOGY

6.1.1 RESEARCH DESIGN A research design is purely and simply the framework or a study that guides the collection and analysis of data. The researchers will be required to prepare a research design that is he will have to state the conceptual structure within which research would be conducted. It gives maximum information. The function of it is to provide for the collection relevant information with minimum expenditure, effort and time. Descriptive study is adapted as the research design. Descriptive study is designed to describe the characteristics of users of a given product, the degree to which product use, varies with age, sex, income level, family size or other characteristics. 6.1.2 DETERMINING SAMPLE DESIGN All the items under consideration in any field of survey constitute a universe or population. A complete enumeration or all items in the population is known as census inquiry. But census inquiry is not possible in practice. So sample design is undertaken. It is a definite plan determined before any data are actually collected for obtaining a sample from given population.

6.1.3 SAMPLING PROCEDURE The sampling procedure adopted in this survey was simple random sampling. Here each member of the population had a known and equal change of being selected. The data were collected from different parts of Chennai. In the survey the majority was the students and followed by businessmen. 6.1.4 METHODS OF SAMPLING In this study non-probability sampling has been adopted. Under the non-probability sampling convenience sampling has been taken for the purpose of study 6.1.5 SAMPLE SIZE One can say that the sample must be an optimum size that it is should be neither excessively large nor too small. Technically, the sample size should be large enough to give a confidence interval of desired width and as such the size of the sample must be chosen by logical process before sample is taken from the universe. In order to extract much feasible results through the study, A sample size of 160 has been taken for the study. 6.1.6SURVEY TECHNIQUE The technique used for conducting the survey is called Survey Technique. There are three techniques to conduct the survey Viz. 1. 2. 3. Personal Interview Telephone Interview Mail Survey

The technique, which has been in this survey, is the Personal Interview. 6.1.7 QUESTIONNAIRE DESIGN Questionnaire is considered as the heart of a survey operation. Before finalizing the questionnaire design, a pilot study was conducted to test the questionnaires. Based on the

feedback of the pilot study detailed questionnaires with both open-ended and close ended questions were finalized. In this project the questionnaire design chosen is a well structured non disguised questionnaire because of their of the information.

6.2 REVIEW OF RELATED LITERATURE: Books and articles on banking in general and Indian Banking in particular are innumerable. Besides there are a very large number of reports by the Reserve Bank of India, Annual Reports of various banks, Banking Numbers in Commerce, Capital and Southern Economist. One of the most important related studies made in Public sector Banks in Indias Economy A case Study of the State Bank of India. This is a dissertation by Dr. O P Marthur. The book discusses the role of public sector banks as an instrument of economic growth of the Indian economy and in the process makes a through study of the working of the State Bank of India and its seven subsidiaries. The book makes an exhaustive study of the problems like financing by banks of small scale industries, small farmers and small business, the inculcation of banking habit among the common man, the organizational and administrative difficulties in the spreading of banking offices in far-flung areas in the countryside, mobilization of savings and above all its follow up measures. Innovative measures like lead banks, regional rural banks, merchant banking have been dealt at length. Another important study is The Role of commercial Banks in Indias Developing Economy by Dr. B P Sharma The book seeks to examine how far and how effectively the commercial banks have met the increasing share their in a planned economy. Besides the above two studies a number of related articles have appeared in the Journal of Indian institute of Bankers of particular interest are articles with the title Seven years

of Nationalized Banking and Decade of Nationalized Banking. These articles review the progress of achievements of public sector banks in achieving the set targets of Indian economic development efforts. Focus shifts to retail banking an article in THE HINDU makes a detail study in the focus shift to retail banking by the Indian Banking Industry. Banking on the Customer, an article that appeared in Business Line studies the relationship management between the Customer and the Banker. Banks go all out to buy customers an article which appeared in Financial Express deals in detail how banks have entered into agreement eith the manufacturers of different products like cars, to serve its customers. It also deals with the initiatives taken by various banks to serve the pensioners. Changing the landscape of Banking performance evaluation by Ashkant and Nit Gupta, Indian Banking enters a new phase by the editor of Southern Economist are some of the progress of public sector banks in achieving the cherished goals particularly the objectives of 1969 bank nationalization. i.e serving the masses. CHAPTER 7 LIMITATIONS OF THE STUDY

The study has the following constraints

1.

The sample sizes are restricted to 160 respondents, due to the time and financial constraints.

2. 3.

150 customers sample cannot be generalized to entire universe. The study is conducted considering the prevailing condition, which are subjected to change in future.

4. 5.

The risk of respondents who may fake the answers could not be avoided. Being only a sample survey, the inferences of the study will only be indicative in nature and as such cannot be generalized.

6.

Since the study is restricted to a period of two months, only selected branches of Indian Bank with of sample of ten in each branch is made. CHAPTER 8 COMPANY PROFILE

8.1 PROFILE OF INDIAN BANK:

Indian Bank is a premier bank owned by the Government of India. It is established on 15th August 1907 as a part of the Swadheshi Movement. It is serving the nation with a team of 22400 dedicated staff. Indian Banks global deposit rose to Rs.24039 crores as on31.03.2002 with the domestic deposits raising by Rs.2460 Crores to reach Rs.22659 Crores. Its global net advance is Rs.10908 Crores as on 31.03.2002. It has 1337 branches spread all over India. Indian Bank has overseas branches in Singapore and Colombo and 229 overseas correspondent banks in 69 countries. It has nine specialized NRI branches exclusively serving NRIs. Indian Bank has two industrial finance branches catering exclusively the Iondustrial Units. Indian Bank has three small scale industries branches exclusively to SSI Units. They are the leaders in serving the rural population and their participation in rural development is note worthy. 529 branches are fully computerized and it extends ATM facilities in important cities. It has strategic alliance with HDFC, Standard Life Insurance Company.

8.2 ORGANISATIONAL CHART:

Chairperson and Managing Director Executive Director General Manager Deputy General Manager Assistant General Manager Chief Manager Senior Manager Manager Assistant Manager Clerical Staff Sub Staff

CHAPTER 9 ANALYSIS AND INTERPRETATION

TABLE 1 TYPE OF ACCOUNT / RELATION THE CUSTOMERS HAVE WITH INDIAN BANK

S.NO 1 2 3

OPTION DEPOSITS LOANS THIRD PARTY

NO OF RESPONDENTS (URBAN 100) 100 10 0

NO OF RESPONDENTS (SUB URBAN 50) 50 7 0

INFERENCE: From the above table it is inferred that out of 100 respondents in urban areas, 100 has deposits and 10 posses loans. It is also inferred that out of 50 respondents in sub urban areas, 50 has deposits and only 7 respondents possess loans with Indian Bank.

FIGURE 1

TABLE 2
PERIOD OF HOLDING AN ACCOUNT WITH THE INDIAN BANK (URBAN) S.NO 1 2 3 <5 (5 10) > 10 TOTAL INFERENCE: Out of 100 customers 64 % of the respondents possess accounts more than 5 years. 36% of the respondents possess accounts less than 5 years. YEARS NO OF RESPONDENTS 36 54 10 100 PERCENTAGE (%) 36 54 10 100

FIGURE 2

TABLE 3
PERIOD OF HOLDING AN ACCOUNT WITH THE INDIAN BANK (SUB URBAN)

S.NO 1 2 3 <5

YEARS

NO OF RESPONDENTS 14 30 6 50

PERCENTAGE (%) 28 60 12 100

(5 10) > 10 TOTAL

INFERENCE: Out of 50 customers 72% of the respondents possess accounts more than 5 years. 28% of the respondents possess accounts less than 5 years.

FIGURE 3

TABLE 4 TABLE SHOWING THE CUSTOMERS OF INDIAN BANK POSSESS ACCOUNT WITH ANY OTHER BANK (URBAN) S.NO 1 2 YES NO TOTAL OPINION NO OF RESPONDENTS 37 63 100 PERCENTAGE (%) 37 63 100

INFERENCE: Out of 100 customers 37 respondents possess account with other banks. 63 respondents do not possess any account with other banks.

FIGURE 4

TABLE 5
TABLE SHOWING THE CUSTOMERS OF INDIAN BANK POSSESS ACCOUNT WITH ANY OTHER BANK (SUB URBAN) S.NO 1 2 YES NO TOTAL OPINION NO OF RESPONDENTS 18 32 50 PERCENTAGE (%) 36 64 100

INFERENCE:

Out of 50 customers 18 respondents possess account with other banks. 32 respondents do not possess any account with other banks.

FIGURE 5

TABLE 6 TABLE SHOWING THE CUSTOMER AWARENESS OF THE FOLLOWING INDIAN BANK DEPOSITS

S. No

Deposits

No.of Respondents URBAN(100)

No.of Respondents SUB URBAN(50) 26 18 11 6 0 2 3 7 0

1 2 3 4 5 6 7 8 9

Vidhya Mandhir HealthPlus Savings Advantage Account Power Account Indstar Deposit Special RD Reinvestment Plan Cash Certificate Facility Deposit

67 38 17 9 5 5 8 11 0

INFERENCE: Out of 150 respondents 67 in urban and 26 in sub urban are aware of Vidhya Mandhir.

38 urban and 18 sub urban respondents are aware of HealthPlus Savings. All the other deposits have a very few awareness among the respondents in both urban and sub urban areas.

FIGURE 6

TABLE 7
TABLE SHOWING THE CUSTOMER AWARENESS OF THE FOLLOWING INDIAN BANK LOANS S. No Loans No.of Respondents URBAN(100) 56 33 67 01 46 13 44 41 53 No.of Respondents SUB URBAN(50) 29 21 37 0 32 07 18 22 33

1 2 3 4 5 6 7 8 9

Loan against securities Rent Encash schemes Consumer loan scheme Novel scheme for professionals Home improve loan My own shop Annapurna & Aroghya Scheme Swarna Aabarana scheme Vidhya Mandir Scheme

INFERENCE: Out of 150 respondents majority of the respondents are aware about the consumer loan scheme, followed loan against securities, Vidhya mandhir scheme and annapurna arogya scheme.

FIGURE 7

TABLE 8 TABLE SHOWING THE CUSTOMER AWARENESS OF THE FOLLOWING INDIAN BANK SERVICES

S. No

Services

No.of Respondents

No.of Respondents

URBAN(100) 1 2 3 4 5 6 7 8 ATM DD Shopee Speed Collection Cash Management System Express Way Tele Banking Seven days Banking EFT 81 12 11 17 0 23 07 0

SUB URBAN(50) 36 05 03 07 0 17 01 0

INFERENCE: Out of 150 respondents majority of customers are aware of the ATM services of Indian Bank. Tele banking also has awareness among the respondents to some level. All the other services of Indian Bank has very less awareness among the respondents.

FIGURE 8

TABLE 9 TABLE SHOWING THE LEVEL OF SATISFACTION OF THE FOLLOWING FACTORS WITH INDIAN BANK (URBAN)

Particulars Services Displays Employee Cooperation Timings Turn around time

Good 54 17 31 26 19

Average 35 29 37 40 31

Poor 11 54 32 34 50

INFERENCE: 46 respondents are not highly satisfied with the services of Indian Bank. 83 respondents are not highly satisfied with the displays of Indian Bank. 69 respondents are not highly satisfied with the timings of Indian Bank. 81 respondents are not highly satisfied with the turn around time of Indian Bank.

FIGURE 9

TABLE 10 TABLE SHOWING THE LEVEL OF SATISFACTION OF THE FOLLOWING FACTORS WITH INDIAN BANK (SUB URBAN)

Particulars Services Displays Employee Cooperation Timings Turn around time INFERENCE:

Good 13 09 15 17 07

Average 24 16 26 20 17

Poor 13 25 9 13 26

37 respondents are not highly satisfied with the services of Indian Bank. 41 respondents are not highly satisfied with the displays of Indian Bank. 35 respondents are not highly satisfied with the timings of Indian Bank. 43 respondents are not highly satisfied with the turn around time of Indian Bank.

FIGURE 10

TABLE 11 TABLE SHOWING THE OCCUPATION OF THE RESPONDENT (URBAN)

Occupation Professionals Businessmen Non-Government Employees Government Employees Others Total

No. Of Respondents 18 12 35 18 17 100

Percentage 18 12 35 18 17 100

INFERENCE: From the above table it is inferred that, 35% of the respondents are Non government employees, government employees and professionals accounts to 18% each, followed by others.

FIGURE 11

TABLE 12 TABLE SHOWING THE OCCUPATION OF THE RESPONDENT (SUB URBAN) Occupation Professionals Businessmen Non-Government Employees Government Employees Others Total No. of Respondents 09 09 06 18 08 50 Percentage 18 18 12 36 16 100

INFERENCE: From the above table it is inferred that, 36% of the respondents are Government employees, Businessmen and Professionals accounts to 18% each, followed by others.

FIGURE 12

TABLE 13 TABLE SHOWING THE AGE OF THE RESPONDENTS (URBAN)

Age Group 21 25 26 30 31 35 36 and above Total

No. of Respondents 17 19 35 29 100

Percentage 17 19 35 29 100

INFERENCE: From the above table it is inferred that, 35% of the respondents are in the age group of thirty one to thirty five, 29% of them fall between 36 and above, 19% of the respondents lie between the age limit of twenty six and thirty and only 17% of the respondents are in the age group of twenty one to twenty five.

TABLE 14 TABLE SHOWING THE AGE OF THE RESPONDENTS (SUB URBAN) Age Group 21 25 26 30 31 35 36 and above Total No. of Respondents 05 11 19 15 50 Percentage 10 22 38 30 100

INFERENCE: From the above table it is inferred that, 38% of the respondents are in the age group of thirty one to thirty five, 30% of them fall between 36 and above, 22% of the respondents lie between the age limit of twenty six and thirty and only 10% of the respondents are in the age group of twenty one to twenty five.

TABLE 15 TABLE SHOWING THE RESPONDENTS HAVING AN ACCOUNT WITH OTHER BANKS (URBAN) Name of the Bank SBI Bank ICICI Bank IOB HDFC Bank SCB Others Total No. of Respondents 9 10 6 5 3 4 37 Percentage 24 27 16. 14 8 11 100

INFERENCE: Out of 100 respondents, 37 possess an account with some other banks also.

From the above table it is inferred that, 27% has an account with ICICI Bank, 24% with SBI, 16% with IOB, 14% with HDFC, 11% with some other Banks and 8% with SCB.

FIGURE 15

TABLE 16 TABLE SHOWING THE RESPONDENTS HAVING AN ACCOUNT WITH OTHER BANKS (SUB URBAN)

Name of the Bank SBI Bank ICICI Bank IOB HDFC Bank SCB Others Total

No. of Respondents 8 0 5 0 0 5 18

Percentage 44 0 28 0 0 28 100

INFERENCE: Out of 50 respondents, 18 possess an account with some other banks also. From the above table it is inferred that, 44% has an account with SBI, 28% with IOB, and 28% with some other Banks.

FIGURE 16

TABLE 17 TABLE SHOWING THE REASON FOR PREFERING THE OTHER BANKS (URBAN)

Facility / Feature Wider Network Credit card facility More flexible loans More ATM Counters Company Relations Others Total

No of Respondents 02 09 04 16 04 02 37

Percentage 5 24 11 44 11 5 100

INFERENCE: Out of 100 respondents, 37 possess an account with some other banks also. It is inferred that 44% of respondents possess an account, also with the other bank because of more ATM counters, 24% for credit card facility, company relations and flexible loans accounts for 11% each.

FIGURE 17

TABLE 18 TABLE SHOWING THE REASON FOR PREFERING THE OTHER BANKS (SUB URBAN) Facility / Feature Wider Network Credit card facility More flexible loans More ATM Counters Company Relations Others Total No of Respondents 0 04 01 09 03 01 18 Percentage 0 21 6 50 17 6 100

INFERENCE: Out of 50 respondents, 18 possess an account with some other banks also. It is inferred that, 50% of respondents possess an account, also with the other bank because of more ATM counters, 21% for credit card facility, company relations accounts for 11% followed by flexible loans and some other reasons for 6%.

FIGURE 18

TABLE 19 TABLE SHOWING THE TYPE OF DEPOSIT THE CUSTOMERS HAVE WITH THE INDIAN BANK (URBAN) Deposits Savings Account Fixed Deposit Current Account Recurring Deposit NRI Account No of Respondents URBAN(100) 77 28 17 16 09 No of Respondents SUB URBAN(50) 40 14 08 07 03

INFERENCE: Out of 100 respondents in urban, 77 possess savings account, 28 possess fixed deposit, 17 possess current account, 16 possess recurring deposit and 9 possess NRI Account. Out of 50 respondents in sub urban, 40 possess savings account, 14 possess fixed deposit, 8 possess current account, 7 possess recurring deposit and 3 possess NRI Account.

FIGURE 19

CHAPTER 10 SUMMARY OF FINDINGS In the selected sample of 150 respondents, only 17 respondents have taken loan from Indian bank. The customer says that the loans are not flexible according to their convenience.

64% of respondents in urban and 72% of respondents in sub urban possess accounts more than 5 years. Hence their answers are reliable.

95 respondents do not possess any accounts with other banks.

DEPOSITS 67 respondents in urban and 26 respondents in sub urban are aware of the Vidhya mandhir scheme. 38 respondents in urban and 18 respondents in sub urban are aware of the Health Plus Savings Scheme. 17 respondents in urban and 11 respondents in sub urban are aware of the Advantage Account. 9 respondents in urban and 6 respondents in sub urban are aware of the Power Account. 5 respondents in urban are aware of the Indstar Deposit. Whereas in sub urban areas the respondents are not aware of the Indstar Deposit. Only 7 respondents are aware of the Special RD account.

11 respondents are aware of Reinvestment Plan.

18 respondents are aware of Cash Certificate. Out of 150 respondents, no respondents are aware of Facility Deposit.

LOANS From the sample of 150 respondents, 27 respondents are professionals, but only 1% of respondent were aware of the Novel Scheme for Professionals. 33 respondents in sub urban and 21 respondents in sub urban are aware of Rent Encash Scheme. 67 respondents in urban and 37 respondents in sub urban are aware of Consumer Loan Scheme. 46 respondents in urban and 32 respondents in sub urban are aware of Home Improve Loan. 13 respondents in urban and 7 respondents in sub urban are aware of My Own Shop Scheme. 44 respondents in urban and 18 respondents in sub urban are aware of Annapurna and Aroghya Scheme. 41 respondents in urban and 22 respondents in sub urban are aware of Swarna Aabarana Scheme. 53 respondents in urban and 33 respondents in sub urban are aware of Vidhya Mandir Scheme.

SERVICES Out of 150 respondents, 81 respondents in urban and 36 respondents in sub urban are aware of ATM services.

Only 12 respondents in urban and 5 respondents in sub urban are aware of 11 respondents in urban and 3 respondents in sub urban are aware of Speed 17 respondents in urban and 7 respondents in sub urban are aware of Cash No respondents are aware about Express Way. 23 respondents in urban 17 respondents in sub urban are aware of Tele 7 respondents in urban 1 respondent in sub urban are aware of Seven Days No respondents aware of EFT.

DD Shopee. Collection. Management System.

Banking. Banking.

CHAPTER 11 SUGGESTIONS The bank should ensure that the quality of operations it offers is superior to that of other banks. Introduction of various banking products tailored to meet the needs of various segments is recommended. Credit card facility should be introduced within the bank. The effective training should be given to the staffs. The bank should undertake drastic steps to improve the performance of A.T.M counters, because a majority of the customers were not satisfied with the performance of the A.T.M counters. If possible the bank should lower the minimum balance requirements of the savings account in order to attract more customers. Loans should be made more flexible. The bank should set up more A.T.M counters. The bank should increase its range of operations and expand considerably. A comprehensive and prospective customer database should be maintained. Market research and periodic customer satisfaction surveys should be conducted on a regular basis so as to fully understand the change in needs, trends etc., of the target market. This would help in tailoring of marketing strategies and make them a success.

The bank should organize customer meets, gathering etc., The bank can also set up a customers club whose activities include: o Talks on financial matters by specialists. o Meetings to improve interactions between bank employees and the customers. o Making consistent personal calls. A quarterly newsletter that contains the latest services offered by the bank, various financial topics, queries, and other columns of similar relevance if introduced by the bank would be highly appreciated by the customers. The perception of the bank by the prospective customers about the various it offers should be improved through effective advertising by means of hoardings. The network had to be strengthened. Advertisements and hoardings need to be screened. More advertisements during the initial stage would help the readers get familiar with the old brand name of the Indian Bank.

CHAPTER 12 CONCLUSIONS

The study on the customer awareness and preference of Indian Bank products has brought out various factors influencing the customers towards the banking industry. The survey conducted on the customers from various backgrounds has provided a variety of insights on the customer psyche towards the products of Indian Bank.

The aim of this project has been to provide awareness about the services, loans provided by the Indian Bank with various alternatives to promote their product in the coming season with utmost effectiveness. The objectives set for the project have been achieved successfully with the use of the devised methodology.

Inferences have been drawn from the acquired data collected through the use of questionnaires. Interpretations of the data have made to give recommendations to the bank to promote their product.

Finally, this report brings a clear picture, portraying the level of customer awareness with the Indian Bank products such as deposits, loans and services, their satisfaction level, their reasons for preferring other banks etc., thus satisfying the primary objective.

BIBLIOGRAPHY Reference: Principles of Marketing (Philip Kotler) Prentice Hall of India, 9th Edition, 2004.

Statistical Methods (S.P.Gupta) Sultan Chand & Sons, 29th Edition, 2000.

Research Methodology (C.R.Kothari) New Age International (P)Ltd 2nd Edition, 2004.

Internet

www.indian bank.com