Professional Documents
Culture Documents
PROJECT REPORT
ON
“PRODUCT/SERVICES AND
MARKETING STRATEGIES”
Undertaken At
“KOTAK MAHINDRA BANK”
Of
Session: 2005-2008
TECHNIA INSTITTUTE OF ADVANCED STUDIES
(Approved By AICTE. Govt. Of India &Affiliated to GGS Indraprastha University, Delhi)
3, PSP Institutional Area, Madhuban Chowk, Rohini, Delhi-110085,
Ph. No: 011-27555121,122,123,124 Fax:-01127555120
Declaration
1
This project titled “PRODUCT AND MARKETING STRATEGIES
REGARDING KOTAK MAHINDRA BANK” being submitted by me in
the partial fulfillment of requirements for the award of Bachelor Of
Business Administration degree from Tecnia Institute of Advanced
Studies, affiliated to Guru Govind Singh Indraprastha University, Delhi.
I have not submitted this work anywhere else for any other degree or
diploma.
All sources of information and help are authentic and have been
acknowledged in the report
Gaurav Garg
B.B.A VI Sem
0691701705
Table of contents
PAGE NO.
S. NO CONTENTS
1. ACKNOWLEDGEMENT 4
2. CERTIFICATE OF APPROVAL 5
3. EXECUTIVE SUMMARY 6
4. RESEARCH OBJECTIVE 7
2
5. RESEARCH METHODOLOGY 8-12
SOURCES OF DATA
RESEARCH DESIGN
DATA SOURCES
SAMPLE SIZE
SCOPE OF THE STUDY
LIMITATIONS
Questionnaires
Bibliography
Synopsis 70-73 74
75-78
ACKNOWLEDGEMENT
3
I thank my Project Guide Ms.Bhawana Dhawan. For her
CERTIFICATE
DATE:
The report submitted has been found satisfactory for the partial
fulfillment of the degree of Bachelor of Business Administration.
4
MS. BHAWANA DHAWAN
(Project Guide)
EXECUTIVE SUMMARY
The project is based on the sales strategies for the
Banking products with a special references to KOTAK MAHINDRA
BANK and the consumer perception about the same.
• First and Foremost, the purpose of KOTAK MAHINDRA
BANK is to fulfill the needs for investment under one roof.
• This project shows, the common man has started capital
market term like bull and bear explode new time.
• It gives the detail view of the regulatory framework for
theKOTAK MAHINDRA BANK
• The focus the shift to various products of KOTAK
MAHINDRA BANK to cater to the needs such as return
explanation, financial position, risk tolerance, etc.
• The next phase look up the investment in growth oriented
stock which are available at attractive relative valuation.
Various Objectives for conducting the research and analysis are listed
as under:
5
1. Access the Market Potential of Kotak Mahindra Bank Saving
Account with the help of a survey conducted on a total of 155
Respondents (50-Kotak Mahindra Bank customers, 100-Other
Banks customers).
2. Study how new distribution channels such as Internet Banking,
ATM facility, Phone Banking have changed the face of the Banking
industry.
3. Study the impact of a customer centric approach being followed by
the Bank, and what is its benefit.
4. Compare the services offered by Kotak Mahindra Bank and the
customer’s satisfaction level of the same with that of other Banks
in the Private and Government sector, and to access where the
Bank has to improve.
5. Consideration of various promotional and marketing and
advertising strategies of Kotak Mahindra to the satisfaction among
its ultimate users and consumers
REASEARCH METHODOLOGY
As the tithe of the project suggests the purpose to study the access of
prudential in area like Pitampura.
6
Research comprise defining and redefining problems, formulating
hypothesis or suggested solutions; collecting, organizing and
evaluating data; making deductions and reaching conclusions; and
at last carefully testing the conclusions to determine whether they
fit the formulating Hypothesis.
SOURCES OF DATA
Data is collected from primary as well as secondary source. For
primary data customer were personally intervened and for secondary
data. Annual report, journals, internet and personal interview.
METHODOLOGY:
The methodology adopted in conducting this survey was quite simple.
First there was collection of data from various sources including
personal interview. Then after scanning and properly analyzing and
interpreting the information available on hand, a final report was
prepared.
7
2. SECONDARY DATA: The chief sources of secondary data were
RESEARCH DESIGN
Type of Research: - Descriptive research
DATA SOURCES
8
PRIMARY DATA
The data that is collected first hand by someone specifically for the
purpose of facilitating the study is known as primary data. So in this
research the data is collected from respondents through
questionnaire.
SECONDARY DATA.
For the company information I had used secondary data like
brochures, web site of the company etc.
The Method used by me is Survey Method as the research done is
Descriptive Research.
RESEARCH INSTRUMENTS
Selected instrument for Data Collection for Survey is Questionnaire.
SAMPLE SIZE:
The survey is conducted among 155 respondents.
Simple statistical tools have been used in the present study to
analyze and interpret the data collected from the field. The study has
used percentile method and the data are presented in the form of
diagrams.
9
SCOPE OF THE STUDY
10
LIMITATIONS
Time constraint.
Biases and non-cooperation of the respondents.
Financial constraint.
Geographical selectivity in study limiting to Delhi city only.
People are not interested in giving personal opinion.
11
CHAPTER-1
INTRODUCTIO N
12
and Old Mutual (a large insurance, banking and asset management
conglomerate).
Finance Limited. Since then it's been a steady and confident journey
to growth and success.
13
• 1991 : The Investment Banking Division is started. Takes over
FICOM, one of India’s largest financial retail marketing
networks
• 1992 : Enters the Funds Syndication sector
• 1995 : Brokerage and Distribution businesses incorporated
into a separate company - Kotak Securities. Investment
Banking division incorporated into a separate company - Kotak
Mahindra Capital Company
• 1996 : The Auto Finance Business is hived off into a
separate company - Kotak Mahindra Primus Limited. Kotak
Mahindra takes a significant stake in Ford Credit Kotak
Mahindra Limited, for financing Ford vehicles. The launch of
Matrix Information Services Limited marks the Group’s entry
into information distribution.
• 1998 : Enters the mutual fund market with the launch of Kotak
Mahindra Asset Management Company.
• 2000 : Kotak Mahindra ties up with Old Mutual plc. for the
Life Insurance business.
Kotak Securities launches kotakstreet.com - its on-line broking
site. Formal commencement of private equity activity through
setting up of Kotak Mahindra Venture Capital Fund.
• 2003 : Kotak Mahindra Finance Ltd. Converts to bank
CHAPTER-2
COMPANY’S PROFILE
Established in 1984, The Kotak Mahindra Group has long been one
of India’s most reputed financial organizations. In Feb 2003, Kotak
14
Mahindra Finance Ltd., the group’s flagship company was given the
license to carry on banking business by the Reserve Bank of India
(RBI).This approval creates banking history since Kotak Mahindra
Finance Ltd is the first company in India to convert to a bank. The
license authorizing the bank to carry on banking business has been
obtained from the RBI in tune with Section 22 of the Banking
Regulation Act 1949.
KMBL was promoted by Mr. Uday.S.Kotak, Kotak and Company Ltd
and Mr. Sidney &A.A.Pinto under the name of Kotak Capital
Management Finance Ltd on 21st Nov 1985 and obtained a
Certificate of Commencement of Business on 11th Feb 1986.
The bank customers have access to entire VISA network of 4500
ATM’S in India and 800000ATM’S worldwide accepted in more than
56000 establishments across India and 10 million worldwide. The
customer also has access to over 800 ATM’s with sharing
arrangements with UTI BANK, of these 125 are in the NCR.
Key group companies and their businesses
15
Kotak Mahindra Capital Company
Kotak Mahindra Capital Company Limited (KMCC) is India's premier
Investment Bank. KMCC's core business areas include Equity
Issuances, Mergers & Acquisitions, Structured Finance and Advisory
Services.
Kotak Securities
Kotak Securities Ltd. is one of India's largest brokerage and securities
distribution houses. Over the years, Kotak Securities has been one of
the leading investment broking houses catering to the needs of both
institutional and non-institutional investor categories with presence all
over the country through franchisees and coordinators. Kotak
Securities Ltd. offers online and offline services based on well-
researched expertise and financial products to noninstitutional
investors.
Kotak Mahindra Prime
Kotak Mahindra Prime Limited (KMP) (formerly known as Kotak
Mahindra Primus Limited) has been formed with the objective of
financing the retail and wholesale trade of passenger and multi utility
vehicles in India. KMP offers customers retail finance for both new as
well as used cars and wholesale finance to dealers in the automobile
trade. KMP continues to be among the leading car finance companies
in India.
Kotak Mahindra Asset Management Company
Kotak Mahindra Asset Management Company Kotak Mahindra Asset
Management Company (KMAMC), a subsidiary of Kotak Mahindra
Bank, is the asset manager for Kotak Mahindra Mutual Fund (KMMF).
KMMF manages funds in excess of Rs 20,800 crore and offers
schemes catering to investors with varying risk-return profiles. It was
the first fund house in the country to launch a dedicated gilt scheme
investing only in government securities. Kotak Mahindra Old Mutual
Life Insurance Limited
Kotak Mahindra Old Mutual Life Insurance Limited is a joint venture
between Kotak Mahindra Bank Ltd. and Old Mutual plc. Kotak Life
Insurance helps customers to take important financial decisions at
16
every stage in life by offering them a wide range of innovative life
insurance products, to make them financially independent.
17
BOARD OF DIRECTORS
Director
Limited
18
Product Detail
Kotak Mahindra Bank is one of the prominent subsidiaries of Kotak
Mahindra group. The activities of the company being parallel to its
objective are very wide and cover all the components of a Bank. The
Basic area of Operations is the Banking business, other products are
meant for the regular revenue generation. Being a Banking house,
the company is in regular touch with Banking Accounts, Investment
Services, Convenience Banking and Other Services.
Kotak Mahindra Bank, it's not about selling you many different
products — it's about working out a holistic, pragmatic solution that
addresses your financial needs. Through their varied products,they
commit themselves to becoming “banker” to the customer rather than
being “asset financier” to our customers.
Banking Accounts
19
SAVINGS ACCOUNT
20
Features & Benefits
Wide ATM access through the Kotak Mahindra Bank Debit Card
One can walk into any KOTAK or HDFC Bank ATMs to withdraw cash
or enquire balance at no extra charge!
Use the free Payment Gateway to make online payments for utility
bills, credit cards, online trading of shares or even online shopping.
Quick and easy funds transfer
One can open an investment account, and use the Net Banking
facility to purchase/redeem mutual funds online while directly debiting
/ crediting your Bank Account. Besides this you get a consolidated
view of all your mutual fund investments across schemes with
updated returns status, latest NAV information and research reports .
21
Attractive returns
Earn better returns in your savings account, with our 2-Way Sweep
facility that automatically sweeps out idle funds, above a threshold,
from your account into Term Deposits. These Term Deposits sweep
back into your account to meet fund requirements when your
withdrawals exceed the balance available in your account, thereby
providing you maximum liquidity.
♣ PRO SAVINGS ACCOUNT:
Walk into any VISA ATM in India to check balance or withdraw cash
absolutely free. no longer have to worry about locating your Bank or
Partner Bank ATM – Use the first VISA ATM that you spot, for cash
withdrawal or balance enquiry transactions.
22
Free investment account
One can open an investment account, and use the Net Banking
facility to purchase/redeem mutual funds online while directly debiting
/ crediting bank account. Besides this get a consolidated view of all
the mutual fund investments across schemes with updated returns
status, latest NAV information and research reports.
Financial payments facilitated through the savings account
Use our free Payment Gateway to make online payments for utility
bills, credit cards, online trading of shares or even online shopping.
Attractive returns
Earn better returns in your savings account, with our 2-Way Sweep
facility that automatically sweeps out idle funds, above a threshold,
from your account into Term Deposits. These Term Deposits sweep
back into your account to meet fund requirements when your
withdrawals exceed the balance available in your account, thereby
providing you maximum liquidity.
23
Dedicated relationship manager
You get a one point contact for all your banking related queries and
transactions. Your relationship manager will also help you with
financial planning and sound investment decisions.
24
Multiple access channels
Use the free Kotak Payment Gateway to make online payments for
utility bills, credit cards, online trading of shares or even online
shopping. All this at the click of a mouse!
Quick and easy funds transfer
One can issue demand drafts or send cheques for collection at all
branches for no extra charge.
Attractive returns
Earn better returns in your savings account, with our 2-Way Sweep
facility that automatically sweeps out idle funds, above a threshold,
from your account into Term Deposits. These Term Deposits sweep
back into account to meet fund requirements when withdrawals
25
exceed the balance available in the account, thereby providing
maximum liquidity.
CURRENT ACCOUNT
Kotak Mahindra Bank offers unparalleled advantages with its three
Current Account offerings. Whether small/ mid size business or an
enterprise spread across multiple locations in the country, would find
a Current Account that's just designed for you. These Current
accounts offer attractive returns along with personalized banking
services at three convenient average quarterly balances(AQB)levels
of Rs. 25000 (KOTAK EDGE SAVINGS ACCOUNT),Rs. 50000
(KOTAK PRO SAVINGS ACCOUNT) and at Rs250000(KOTAK ACE
SAVINGS ACCOUNT).The average quarterly balance levels as well
the corresponding services and benefits try to ensure the various
customer needs and requirements. With features ranging from Free
DDs, Free Cheque Collection, Free At -Par Cheque facility to Free
Trading Account & free Demat Account, and more!
26
♣ Edge Current Account
Kotak 2-Way Sweep ensures that money never stops working for you.
Daily balances, above a threshold level, in Current Account are
automatically swept out into Term Deposits (TD). This 'swept out
amount' is brought back into account to meet fund requirements when
withdrawals exceed the balance available in the account (or when the
account balance goes below the specified threshold level.) With
Kotak 2-Way Sweep you enjoy the twin advantages of attractive
returns & maximum liquidity.
27
Free Demand Drafts and Pay Orders
At-par Cheques
Get free At-par Cheques that are treated as 'local clearing' cheques
across all branch locations. All these at nominal costs.
Cheque Collection
Our Mobile Banking & Alerts service enables to access bank account
on Mobile Phone. One can access all your standing instructions (SI),
any large credits or debits, available balance, balance below AQB,
any SI failure and SIs successfully executed will be intimated to you
via SMS
28
♣ PRO Current Accountt
You need a well equipped bank account to keep pace with you in the
ever changing business scenario. We offer you the Kotak Pro Current
Account, armed with Kotak 2-Way Sweep, as well as an entire gamut
of Banking Privileges and 'user-friendly' Convenience Banking
facilities. The feature rich Kotak Pro Current Account is the ideal way
to make your money work harder.
Key Features
• Dedicated Relationship Manager
In the need of a well equipped bank account to keep pace with you in
the ever changing business scenario. They offer you the Kotak Ace
Current Account, armed with Business benefits and exclusive Ace
Privileges and an entire gamut of banking conveniences especially
designed for you. The feature rich Kotak Ace Account is the ideal way
to make money work harder
29
Term Deposits
Key Features
• Ease and convenience of operation
Give your portfolio stability of returns and safety and liquidity. Invest
in Kotak Bank Term Deposit. It offer attractive returns on term
deposits and investing in them is really simple and convenient.
For the first time in India, New to Bank customer can also apply
online for term deposit.
30
Liquidity through overdraft or sweep-in facility
One can avail this facility for each & every account that open with us
i.e. nominate different persons for different term deposit accounts can
choose to change the nominee through a declaration in the
appropriate form to revise the nomination during the term of the
deposit.
INVETSMENT SERVICES
31
“Making your money grow”
just amongst individuals, but across the different stages of your life.
DEMAT
Key Features
• Efficient depository services that allow you to hold your shares
in convenient, "demat" formats
32
indexes like NSE &BSE, NCDEX. NSDL, CSDL. Let’s understand the
relative terms :
33
PRODUCTS OFFERED BY KOTAK MAHINRA BANK
34
DERIVATIVES
Mutual Funds
Key Features
• Portfolio assistance
35
recommendations take into account all relevant factors including the
investment philosophy of the Asset Management Company, portfolio
quality, risk-adjusted returns and market trends.
The Mutual funds on advisory list range form Debt to Equity funds
and are drawn from top performing schemes of renowned Mutual
Fund houses like Franklin Templeton, Kotak, Reliance, Prudential
ICICI etc.Relationship Manager will recommend the funds that suit
the investment objectives.
Instead of buying shares of different companies tracking the price
movement’s performance of the company, growth prospects of the
industries etc. and then taking your own buy/sell decision, you may
consider making investment in equity/debt market through the mutual
fund route. Mutual fund is a SEBI registered entity that pools the
money of many individuals’ investors to purchase the stocks, bond or
other financial instruments .professional
36
Bancassurance
They offer a range of carefully selected insurance policies across the
entire spectrum of life insurance products Relationship managers will
analyze your insurance needs and develop the solution that works
best for you.
The ideal insurance plan is one that addresses the exact insurance
needs of the individual that will depend on the age and life stage of
the individual apart from a host of other factors.
37
CONVENIENCE BANKING
In today's day and age time is money. You work hard and have a
busy schedule. Doing banking should be easy and convenient and
not add to worries.
Kotak Mahindra Bank realize this and have specially tailored a wide
range of value added products and services to make money work for
you. These, coupled with the highest standard of customer care will
make life simpler and easier.
38
An ATM is basically a machine that can deliver cash to the customers
on demand after authentication. However, nowadays we have ATMs
that are used to vend different FMCG products also. An ATM does
the basic function of a bank’s branch, i.e., delivering money on
demand. Hence setting of newer branches is not required thereby
significantly lowering infrastructure costs.
Cost reduction is however possible only when these machines are
used. In India, the average cash withdrawal per ATM per day has
fallen from 100 last years to 70 this year. Though the number of
ATMs has increased since last year, it is not in sync with the number
of cards issued. Also, there are many dormant cardholders who do
not use the ATMs and prefer the teller counters. In spite of these
odds, Indian banks are increasing the number of ATMs at a feverish
pace.
These machines also hold the keys to future operational efficiency
Account holders of Kotak Mahindra Bank Saving Account having Visa
Electron Debit Card can access other Banks ATM machines unlimited
times per month for free, after that the Account holder has to pay
nothing for the transaction. But also holders of ATM cards cannot
access machines belonging to other Banks.
The number of ATM machines installed by Kotak Mahindra Bank is
20 in Delhi and the All India tally is 156 machines. When this figure is
compared to ICICI Bank which has thrice the number of machines in
Delhi or HDFC Bank which has nearly twice the number of machines
in Delhi, this is worrying for Kotak Mahindra Bank.
“Growth In ATM Machine With Increased Use”
39
The Table below shows the number of ATM machines belonging to
various banks in India:-
NAME OF BANK NUMBER OF ATM NUMBER OF ATM
MACHINES MACHINES
(ALL INDIA BASIS) (DELHI)
Net Banking:
Net banking means carrying out banking transactions via the Internet.
Thus the need for a branch is completely eliminated by technology.
Also this helps in serving the customer better and tailoring products
better suited for the customer.
40
A customer can view his account details, transaction history, order
drafts, electronically make payments, transfer funds, check his
account position and electronically communicate with the bank
through the Internet for which he may have wanted to visit the bank
branch.
Net banking helps a bank spread its reach to the entire world at a
fraction of the cost
Phone Banking:
SMS Banking
41
Kotak Mahindra Bank's SMS Banking service enables you to access
your bank account, investment account and demat account on your
Mobile Phone. Now get latest update on your account balance, salary
credits, large debits, large credits, holding value and much more, on
your mobile anytime.
INTERNET BANKING
INTRODUCTION
The Internet banking is changing the banking industry and is having
the major effects on banking relationships. Internet banking involves
use of Internet for delivery of banking products & services. It falls into
four main categories, from Level 1 - minimum functionality sites that
offer only access to deposit account data - to Level 4 sites - highly
sophisticated offerings enabling integrated sales of additional
products and access to other financial services- such as investment
and insurance.
DRIVERS OF CHANGE
Advantages previously held by large financial institutions have
shrunk considerably. The Internet has leveled the playing field and
afforded open access to customers in the global marketplace.
Internet banking is a cost-effective delivery channel for financial
institutions. Consumers are embracing the many benefits of Internet
banking. Access to one's accounts at anytime and from any location
via the World Wide Web is a convenience unknown a short time ago.
The primary drivers of Internet banking are:
· Improve customer access
· Facilitate the offering of more services
42
· Increase customer loyalty
· Attract new customers
14 13
12
10
8 7
6
4
2 0 0 0
0
Very Satisfied Somewhat Neither Somewhat Very
Satisfied Satisfied nor Dissatisfied Dissatisfied
Dissatisfied
43
secondly , general perception that this is not safe , thirdly ,
computers and internet are not widely spread all over the country.
44
STRATEGIC ALLIANCES ENTERED BY KOTAK
MAHINDRA BANK
CASH NET
45
Kotak Mahindra Bank and REDIFF.com
BANKING HOURS
Kotak Mahindra Bank Account holders have been able to infer that
Branch Banking is the second most Frequent Point of Interaction with
the Bank. The Average Banking Hours is a very important aspect
associated with any Bank. In today’s fast paced life where people
who hold Accounts with the Bank are busy working it is important that
they can find a way to visit the Bank without having to miss out on
work.
46
convenient for especially those Account holders who are working,
these people can visit the Bank after their Office finishes.
Apart from the Average Banking Hours Kotak Mahindra Bank offers to
it’s Account holders 24 Hour Branch, 365 Days Branch and the facility
of Sunday Banking.
Kotak Mahindra Bank is the only Bank which offers a 24 Hour Branch
in India, this is a big boon for people who cannot take the time out to
visit the Bank during the normal working hours and is also very handy
during emergencies.
The 365 Day Branch of Kotak Mahindra Bank is also unique and the
only other Bank offering this service is ABN Amro , this Branch is
open regardless of the fact that it is a Sunday or a public holiday.
Sunday Banking is very useful for people who are busy throughout
the week and the only day when they find the time is Sunday. Other
Banks offering this service apart from Kotak Mahindra Bank are ABN
Amro and CITIBANK.
47
No Kotak Mahindra Bank account required
Chapter-4
48
DURATION WITH BANK
Less than 6
Over 2 years months
6 months to 1
17% 3%
year
30%
1 to 2 years
50%
49
♣ REASON FOR CHOOSING BANK
34% Recommended by
Family/Friend
Brand
Name/Reputation
44% of bank
Advertisement
Branch near
16% 0%6%
Office/Residence
Other Reasons
If the Bank could get to know of that very compelling factor that
convinced the customer to open the account then the Bank could use
this in its favor to attract more customers.
From the study conducted the factor which has come out strongest in
this regards is the “Other Reasons” getting 44% of the responses,
going deeper into this response by asking the respondent what is the
factor they include in this Other Reasons is that most people are not
the deciding factor when they open a saving account, this is done so
by their employers. The customer’s salary accounts are created by
the companies in which they work.
50
MOS T FREQUENT POINT OF INTERACTION WITH
THE BANK
30 26
25
20 16
15
10 6
5 2
0 0
0
Visit Branch ATM Phone Drop Box Internet Door Step
Banking Banking
The Banks are very interested to know the most popular Point of
Interaction with the Bank as if the Bank is lacking in one of these
steps can be taken to make the situation better.
From the study we can see more than half (more than 50%) of the
total respondents feel that they interact most with the Bank with the
help of ATM. Hence the importance of ATM cannot be overstated.
The Second most popular point of interaction that arises from the
study is the Branch with 32% of the respondents favoring this option.
Kotak Mahindra Bank is unique in an aspect that it follows the “Any
Branch Banking” wherein the Account holder can use any of the
Banks 156 Branches all over the country.
An aspect that customers really appreciate is the 24 hour Branches
and the 365 Days Branches of Kotak Mahindra Bank. The 24 Hour
51
Branch of Kotak Mahindra Bank is located at sector 18 noida apart
from these Branches in Mumbai and other cities in India.
Kotak Mahindra Bank is the only Bank which has the facility of a 24
Hour Branch. As for a 365 Day Branch the only Bank having this
facility apart from Kotak Mahindra is UTIBank.
The third most Frequent Point of Interaction is Phone Banking with
11.5% of the respondents favoring this medium. Phone Banking is
one of the new age Banking techniques. It is in it’s infancy in India
and people have not taken to it as is the case in other Developed
Countries in the World.
In the study it was seen that customers have mixed feeling when it
comes to Phone Banking as sometimes they do not find it as an
effective alternate to traditional forms of Banking.
The forth most Frequent Point of Interaction with the Bank is Internet
Banking with 4% of the respondents favoring this medium. Internet
Banking is the most modern means of Banking available to the
customers but due to the general perception that this medium is not
safe it is not used by many people.
In our study only 60% of the total respondents have at least once
used Internet Banking.
The two options which were not favored by any respondents as the
most Frequent Point of Interaction are Drop Box Facility and Door
52
Step Banking
.
OVERALL SATISFACTION LEVEL
30 26
25
20
14
15
10
10
5
0 0
0
Very Satisfied Somewhat Neither Somewhat Very
Satisfied Satisfied nor Dissatisfied Dissatisfied
Dissatisfied
53
Hence about 82% of the Respondents are Satisfied with their
Overall Experience with the Bank.
The study is showing a very good Overall Satisfaction Level by
the Account holders
25 23
20
15
15
10
10
5 2
0
0
Very Satisfied Somewhat Neither Somewhat Very
Satisfied Satisfied nor Dissatisfied Dissatisfied
Dissatisfied
54
From the results of the findings we can see that Kotak Mahindra Bank
has been successful in marinating a high level of customer
satisfaction with the employees. Only 4% of the total respondents
included in the study were dissatisfied.
25 22
20
14
15
10
10
4
5
0
0
Very Satisfied Somewhat Neither Somewhat Very
Satisfied Satisfied nor Dissatisfied Dissatisfied
Dissatisfied
55
From the analysis of the data that has been collected from Kotak
Mahindra Bank Account holders we can see that majority of the
respondents are satisfied with the Average Banking Hours.
The respondents who are Somewhat Satisfied with the Banking
Hours consist of 44% of the total, while 28% of the total respondents
studied say that they are Very Satisfied. In all 72% of the total
respondents are satisfied with the Banking Hours of Kotak Mahindra
Bank.
The respondents who are neither Satisfied nor Dissatisfied consist of
20% of total number studied, while 8% of the respondents are
somewhat dissatisfied.
THE RESULTS OF A GENERAL SURVEY WHICH WAS
CONDUCTED ON10 DIFFERENT BANKS IS AS
FOLLOWS
BANKS STUDIED
BANKS STUDIED
25
20 20
20
15
10 10 10 10 10
10
5 5 5
5
0
k
k
BI
ro
K
B
I
B
C
an
n
SB
AN
BO
SB
ID
PN
Am
Ba
Ba
IB
62
IB
ra
FC
IC
N
IT
dh
AB
IC
C
H
An
57
MOST IMPORTANT QUALITY IN A BANK
ATMDécor of Bank
12% 0%
Courteous Staff
26% Efficient service
62%
58
The most frequent point of interaction with the Bank is ATM facility,
the Account holders whether in Private/Foreign sector or the
Government sector have been provided with ATM facility by their
respective Banks. To judge the performance level of any Bank today
it is crucial that the ATM service of the Bank be studied, this includes
not only the number of ATM machines installed by the Bank , but also
how technologically advanced the machines are (number of
transaction that can be done with the ATM Facility), the effort Bank
undertakes to maintain the machines and also the overall experience
of the Account holder with the service.
The percentage of respondent considering the ATM service as most
important were 12% of the total sample size.
But from the respondents who were questioned none of them said
that the Décor/Ambience of the Bank Branch was most
important. On further Questioning it was revealed that they did want
well-maintained Branches/Other Bank Interaction points but this was
not the most important aspect.
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PRIVATE BANKS PROVIDE SUPERIOR
SERVICES AS COMPARED TO GOVERNMENT
BANKS ?
No
21%
Yes
79%
60
Facility , Internet Banking , Phone Banking, These services make the
life of Account holders much easier.
Chapter-5
CONCLUSION
61
2. The Bank aims to serve customers from teenagers to senior
citizens, hence different products designed to suit specific
requirements of the above.
3. Aims to serve all classes of the society from the salaried middle
class to the high income business class.
Customers are categorized and segmented according to their
requirements and needs.
For Example, the EDGE Saving Account aims to serve middle
class customers so minimum balance required to be maintained is
Rs. 10000. While the PRO and ACE Saving Accounts are targeted
at high income customers, the minimum balance requirement is
Rs. 20000 and Rs. 75000.
4. Customers who are more profitable to the Bank (High Value
Customers) are provided special facilities. Priority Banking is
meant to serve these high value customers.
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• Gift Vouchers on making utility payments, such as cell phones,
electricity and MTNL bills.
9. The Bank has tied up with other Banks so that it’s customers can
use other Bank’s ATM facility for free transactions
10.The Bank also provides DEMAT account and also sells Mutual
Funds, this provides the Bank and Government additional
revenue.
11.The Bank has been very successful in enlarging its customer base
during the last couple of years.
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13.The Biggest competitors of the Bank are ICICI Bank and HDFC
Bank and STANDRAD CHARTERED.
14. ATM Facility is most popular way to transact with the Bank.
GENERAL FINDINGS
64
5. People realize that Private Banks are as safe as compared to
Government Banks.
NAME ___________________________________________
ADDRESS ________________________________________
AGE
Below 25 years 25 to 40 40 to 55 Above 55 years
OCCUPATION
Business Professional Service Student Others
ANNUAL INCOME
Less than 1.5 Lakh 1.5 Lakh to 3 Lakh 3 Lakh to 4.5 Lakh
above 5 Lakh
Yes No
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3. Out of the above accounts which do you use most
frequently _________________________
Land/Property
Jewellery
Yes No
6. How many times a week does you use your ATM/Debit
Card?
66
7. What is your most frequent point of interaction with the bank?
Visit Branch
ATM
Phone Banking
Drop Box
Internet Banking
Yes No
9. Do you agree with the view that your money would be safer in a
nationalized bank rather than a foreign bank?
Strongly Agree
Agree
Neither Agree nor Disagree
Disagree
Strongly Disagree
10. Are you influenced by advertisements in your choice of bank?
Yes No
11. Do additional schemes/benefits (free insurance, free debit card,
privileges/discounts on use of debit card, etc.) offered by banks
have a bearing on your decision when you open a saving bank
account?
67
Yes No
68
BIBLIOGRAPHY
goals of profitability along with service and set targets and evolve
strategies to reach them.
70
There is certainly a paradigm shift in banking in India in the
recent past. At present profitability, capital restructuring and
transparency is considered important and significant for banks.
Also, banks in India have started realizing the need to be
‘customer focused’ that in turn leads to ‘customer
appreciation’, which is imperative for survival and growth.
The first change along this line was brought in by the foreign
banks with their emphasis on high quality and efficient service
combined with technological advantages like satellite banking
and tele-banking manned by skeletal staff and lesser number of
branches.
Over the last few years, the communication style too has
changed with respect to the banking industry. Communication
has shifted from branding the bank to branding banking
products, highlighting service commitments, convenience, etc.
Further, branding of banking products such as home loans,
consumer durable loans, tele banking, ATMs, net banking
etc
72