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PUNJAB NATIONAL BANK
SUBMITTED FOR THE PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION Under the guidance of Submitted to : by: Miss. SAPNA ARORA AGGARWAL Assistant Professor 2011 HEENA Roll No. 9011 Batch : 2009Submitted
J.C.D Institute of Business Management, Sirsa Affiliated to Kurukshetra University, Kurukshetra
Institute of Business Management
Jan Nayak Ch. Devi Lal Vidyapeeth
Post Box 81, Barnala Road, Sirsa, Haryana - 125055 Phone: 01666-238101/02/03/04, Fax: 01666-238100,
Certified that Mr. HEENA AGGARWAL, Class Roll No. 9011, University Roll No…………… student of M.B.A. in the I.B.M., J.C.D. Vidyapeeth, Sirsa has successfully completed the Summer Training Report entitled "CUSTOMER SATISFACTION" under my guidance towards the partial fulfillment of his M.B.A. degree.
Miss. Sapna Arora (Project Guide) J.C.D., I.B.M.
Dr. Shashi Kapur (Director) J.C.D. I.B.M.
ACKNOWLEDGEMENT It was a great opportunity for me to work with PUNJAB NATIONAL BANK., pioneers in the field of Finance Industry. I am extremely grateful to all those who have shared their expertise and knowledge with me and without whom the completion of this project would have been virtually impossible. Firstly, I would like to thank our Company Guide Mr. Deepanker, senior Training Manager who has been a constant source of inspiration for me during the completion of this project. He gave me invaluable inputs during my endeavor to complete this project. I am also extremely grateful to Mr.Deepanker, Senior Training Manager, to have given me this opportunity to work with him and gain valuable insights. I am indebted to all staff of Angel Broking Ltd for their valuable support and cooperation during the entire tenure of this project. Not to forget, all those who have kept my spirits surging and helped delivering my best. I thank my faculty guide Ms. Sapna Arora who helped me out at every critical situation that I faced in my project and gave me his valuable advice to solve problems. I want to give my special thanks to all members of IBM, for providing me opportunity to work on this project with this great organization. At last I would like to thank all the respondents met in the preparation, who gave their valuable time to provide us required information and their honest support to complete our project in time.
I hereby declare that the project “CUSTOMER SATISFACTIONDemat Account of Angel Broking” is original and bonafied work done by me. The project is being submitted in partial fulfillment requirements for the award degree of Master of Business Administration, Kurukshetra University, kurukshetra. The contents of this project are based on the field work and analysis done by me during my tenure at PUNJAB NATIONAL BANK, FARIDABAD.
every aspirant has to undergo six weeks “internship” in an organization of repute. As complementary to training. In order to use the theoretical knowledge I get the opportunities of “Internship” in NHPC LTD. I have prepared and submitted the project report. As a part of this course. The purpose of this training is to expose the students to the real business situation and to provide insight into the various functions carried out within the organization. It is an attempt to present an account of practical knowledge and observations gathered during the training.PREFACE Education becomes more meaningful when its theoretical aspects are combined with practical experience. This provides opportunities to the students to improve their understandings of the studies. .
INTODUCTION OF PROJECT 3. RESEARCH DESIGN 5. OBSERVATION AND FINDINGS 7. ANALYSIS AND INTERPRETATION 6. BIBLOGRAPHY . LITERATURE REVIEW 4.CONTENTS 1. COMPANY PROFILE 2.
CHAPTER 1 .
the Indian Banks Association (IBA) and top 20 banks like IDBI. ABN AMRO. etc. though conservative. The banking system of India should not only be hassle free but it should be able to meet new challenges posed by the technology and any other external and internal factors. It will discuss upon the matters with the birth of the banking concept in the country to new players adding their names in the industry in coming few years. This is one of the main reasons of India's growth process. Indian banking system has reached even to the remote corners of the country. However. The first bank in India. HSBC. From 1786 till today. They are as mentioned below: • Early phase from 1786 to 1969 of Indian Banks .INTRODUCTION TO BANKING IN INDIA The banking section will navigate through all the aspects of the Banking System in India. ICICI. In fact. The banker of all banks. was established in 1786. the journey of Indian Banking System can be segregated into three distinct phases. has been well defined under three separate heads with one page dedicated to each bank. the past has been well explained under three different heads namely: • • • History of Banking in India Nationalization of Banks in India Scheduled Commercial Banks in India HISTORY OF BANKING IN INDIA Without a sound and effective banking system in India it cannot have a healthy economy. in the introduction part of the entire banking cosmos. It is no longer confined to only metropolitans or cosmopolitans in India. Reserve Bank of India (RBI). For the past three decades India's banking system has several outstanding achievements to its credit. The most striking is its extensive reach.
co-operative banks and regional rural banks. New phase of Indian Banking System with the advent of Indian Financial & Banking Sector Reforms after 1991. 1955 (23 of 1955). there were 300 scheduled banks in India having a total network of 64. or any other bank being a bank included in the Second Schedule to the Reserve Bank of India Act. "Non-scheduled bank in India" means a banking company as defined in clause (c) of section 5 of the Banking Regulation Act. nationalized banks (19). but does not include a co-operative bank". or under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act. 1934 (2 of 1934). private sector banks (32).• Nationalization of Indian Banks and up to 1991 prior to Indian banking sector Reforms. As on 30th June. 1999. 1959 (38 of 1959).918 branches. a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act. "Scheduled banks in India" means the State Bank of India constituted under the State Bank of India Act. 1949 (10 of 1949). 1980 (40 of 1980). The scheduled commercial banks in India comprise of State bank of India and its associates (8). which is not a scheduled bank". a corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act. • SCHEDULED COMMERCIAL BANKS IN INDIA The commercial banking structure in India consists of: • Scheduled Commercial Banks in India • Unscheduled Banks in India Scheduled Banks in India constitute those banks which have been included in the Second Schedule of Reserve Bank of India (RBI) Act. RBI in turn includes only those banks in this schedule which satisfy the criteria laid down vide section 42 (6) (a) of the Act. . 1934. 1970 (5 of 1970). foreign banks (45).
C. Bank of America NT & SA Bank of Tokyo Ltd.The following are the Scheduled Banks in India (Public Sector): • • • • • • • • • • • • • • • • State Bank of India State Bank of Bikaner and Jaipur State Bank of Hyderabad State Bank of Indore State Bank of Mysore State Bank of Saurashtra State Bank of Travancore Andhra Bank Allahabad Bank Bank of Baroda Bank of India Bank of Maharashtra Canara Bank Central Bank of India Corporation Bank Dena Bank The following are the Scheduled Banks in India (Private Sector): • • • • • • • • • ING Vysya Bank Ltd Axis Bank Ltd Indusind Bank Ltd ICICI Bank Ltd South Indian Bank HDFC Bank Ltd Centurion Bank Ltd Bank of Punjab Ltd IDBI Bank Ltd The following are the Scheduled Foreign Banks in India: • • • • • • • American Express Bank Ltd. Banquc Nationale de Paris Barclays Bank Plc Citi Bank N. . ANZ Gridlays Bank Plc.
• • • Deutsche Bank A.G. was nationalized in July 1969 and currently the bank has become a front-line banking institution in India with 4525 Offices including 432 Extension Counters. INTRODUCTION OF PNB Punjab National Bank of India. banks are also adding services to their customers. BANKING SERVICES IN INDIA With years.5 crore customers with the following wide variety of banking services: • • • • • Corporate banking Personal banking Industrial finance Agricultural finance Financing of trade . the services provided by banks have become more easy and convenient. A competition has been established within the banks operating in India. With stiff competition and advancement of technology. The past days are witness to an hour wait before withdrawing cash from accounts or a cheque from north of the country being cleared in one month in the south. the first Indian bank started only with Indian capital. Shanghai (China) and in London and a full fledged Branch in Kabul (Afghanistan). Hongkong and Shanghai Banking Corporation Standard Chartered Bank. The corporate office of the bank is at New Delhi. Punjab National Bank with 4497 offices and the largest nationalized bank is serving its 3. This section of banking deals with the latest discovery in the banking instruments along with the polished version of their old systems. The customers have more choices in choosing their banks. Punjab National Bank of India has set up representative offices at Almaty (Kazakhistan). The Indian banking industry is passing through a phase of customers market.
 Lala Lalchand.C. The bank has been ranked 248th biggest bank in the world by Bankers Almanac. 1947: Partition of India and Pakistan at Independence. Jessawala. HISTORY OF THE BANK Punjab National Bank (PNB) was registered on May 19. Punjab National Bank India maintains relationship with more than 200 leading international banks world wide. . The Bank is the second largest government-owned commercial bank in India with about 4. Dubai. It serves over 37 million customers. Lala Lajpat Rai was actively associated with the management of the Bank in its early years. Shri E. and Lala Dholan Dass. 1940: PNB absorbed Bhagwan Dass Bank. PNB has the distinction of being the first Indian bank to have been started solely with Indian capital that has survived to the present. The bank's total assets for financial year 2007 were about US$60 billion. PNB has earned 9th position among top 50 trusted brands in India. Shri Kali Prosanna Roy. • 1895: PNB commenced its operations in Lahore. London.• International banking Punjab National Bank has been ranked 38th amongst top 500 companies by The Economic Times.500 branches across 764 cities. and Shanghai. as well as branches in Hong Kong and Kabul. • • • 1904: PNB established branches in Karachi and Peshawar. Bakshi Jaishi Ram. was established in 1881 in Faizabad. a scheduled bank located in Delhi circle. Shri Prabhu Dayal. PNB India has Rupee Drawing Arrangements with 15 exchange companies in UAE and 1 in Singapore. (The first entirely Indian bank. but continued to operate in Pakistan. PNB has a banking subsidiary in the UK. but failed in 1958. and representative offices in Almaty. Oslo. the Ouch Commercial Bank. 1894 under the Indian Companies Act with its office in Anarkali Bazaar Lahore. PNB lost its premises in Lahore.) PNB's founders included several leaders of the Swadeshi movement such as Dyal Singh Majithia and Lala HarKishen Lal.
At the time of the merger with PNB. . 1993: PNB acquired New Bank of India. 1961: PNB acquired Universal Bank of India. author of Kundalatha. the oldest private sector bank in Kerala. and in 1965 had acquired selected assets and deposits of the Coimbatore National Bank. PNB also had one or more branches in East Pakistan (Bangladesh). Nedungadi Bank's shares had zero value. Kazakhstan. 1969. • 2005: PNB opened a representative office in Dubai. including PNB's head office. • • • • • 1960s: PNB amalgamated Indo Commercial Bank (est. with the result that its shareholders received no payment for their shares PNB also opened a representative office in London. 1969: The Government of India (GOI) nationalized PNB and 13 other major commercial banks. Afghanistan.M. Appu Nedungadi. 1998: PNB set up a representative office in Almaty. PNB also opened a representative office in Shanghai. Rao Bahadur T. 1986: PNB acquired Hindustan Commercial Bank (est. 1943) in a rescue. 1933) in a rescue. September 1965: After the Indo-Pak war the government of Pakistan seized all the offices in Pakistan of Indian banks. on July 19. had established the bank in 1899. The acquisition added Hindustan's 142 branches to PNB's network. which may have moved to Karachi. which the GOI had nationalized in 1980. 1986 The Reserve Bank of India required PNB to transfer its London branch to State Bank of India after the branch was involved in a fraud scandal. It was incorporated in 1913. 2003: PNB took over Nedungadi Bank. 1976 or 1978: PNB opened a branch in London. PNB established an alliance with Everest Bank in Nepal that permits migrants to transfer funds easily between India and Everest Bank's 12 branches in Nepal. • • • • • • • 2004: PNB established a branch in Kabul.• 1951: PNB acquired the 39 branches of Bharat Bank (est. 1963: The Government of Burma nationalized PNB's branch in Rangoon (Yangon). 1942). one of the earliest novels in Malayalam. Bharat Bank became Bharat Nidhi Ltd.
driven by strong treasury gains of Rs355 crore during the quarter in line with industry trends. 2009: PNB opened a representative office in Oslo.• 2007: PNB established PNBIL . with the bank not adopting the guidelines of treating floating provisions as part of .Punjab National Bank (International) . and is planning a fourth in Birmingham. ACHIEVEMENTS • Punjab National Bank announced its Q1FY2010 results on 29 July 2009. • In spite of being at the forefront of PLR cuts. substantially ahead of expectations on account of large treasury gains.2%. • Gross and Net NPA ratios remained stable sequentially at 1. on the back of strong balance sheet growth. and one in South Hall. • Operating expenses were higher than expected on account of Rs150 crore of provisions for imminent wage hikes. • • 2008: PNB opened a branch in Hong Kong. Gatin Gupta became Chairmen of Punjab National Bank. • Other Income surged 113% y-o-y. with two offices.in the UK. one in London. delivering 62% y-o-y growth in net profits to Rs832 crore (Rs512cr). the bank posted a healthy growth in Net Interest Income (NII) of 29% y-o-y.4% sequentially and 26. Norway.5% y-o-y. even as Fee income was also robust at 45% y-o-y. apart from healthy operating performance. unlike the peers its growth in advances also remained strong at 38% y-o-y. Since then it has opened a third branch in Leicester. • While the bank’s deposit growth was reasonably robust at 4.8% and 0.
• Commited to excellence in serving the public and also excelling in corporate values Mission • To provide excellent professional services and improve its position as a leader in financial and related services. • Build and maintain a team of motivated workforce with high work ethos. progressive. VALUES AND ETHICS • Bonding and Integrity • Ethical conduct • Periodic disclosure • Confidentiality and fair dealing • Compliance with rules and regulation .tier 2 capital instead of adjusting against NPAs on express permission from the RBI. cost effective and customer friendly institution providing comprehensive financial and related services. VISION AND MISSION Vision • To evolve and position the bank as a world class. • Use latest technology aimed at customer satisfaction and act as an effective catalyst for socio economic development. • Integrating frontiers of technology and serving various segments of society especially weaker section.
PRODUCTS AND SERVICES • Savings Fund Account 1. Flexible Housing Loan. EXIM finance • Business Sector 1. 2. PNB Farmers Welfare Trust • Corporate Banking 1. Anupam Account. 3. 3. 3. . Mahila Udyam Nidhi Scheme. PNB Gaurav. 4. Gold Card scheme for exporters. Car Finance. Mahabachat Schemes. PNB Prudent Sweep. 3. PNB Vidyarthi SF Account. Krishi Card. 2. PNB Mitra SF • Account Current Account 1. PNB Smart Roamer • Fixed Deposit Schemes 1. 2. 4. PNB Vaibhav. Total Freedom Salary Account 2. Credit Cards • Social Banking 1. Spectrum Fixed Deposit Scheme. PNB Karigar credit card. Personal Loan. 2. 3. Multi Benefit Deposit • Scheme Credit Schemes 1. 4. 2.
PNB Vikas Udhami Apart from these. 3.2005 by Institute of Directors. PPF schemes and various E-services. Golden Peacock Award for Excellence in Corporate Governance . Included in the top 1000 banks in the world according to The Banker.C Nielson Survey. senior citizens schemes. London. and the PNB also offers locker facilities. PNB Kushal Udhami.2.A. Earned 9th place among India's Most Trusted top 50 service brands in Economic Times. London. FICCI's Rural Development Award for Excellence in Rural Development – 2005 • • • • . AWARDS AND DISTINCTIONS • • Ranked among top 50 companies by the leading financial daily. 4. Ranked as 323rd biggest bank in the world by Bankers Almanac (January 2006). PNB Pragati Udhami. Economic Times.
Let’s analyze SWOT in order to know as to where the company stands SWOT ANALYSIS STRENGTH Wide network Large number of customers Fast adaptability to technology Brand image WEAKNESS Casual behaviour .
Corruption and red tapism Slow decision making due to large hierarchy High gross NPA OPPORTUNITIES Home to home banking services Diversification towards other fields Globalization THREATS .
CHAPTER 2 . Stiff competition from SBI and other private players.
Definition 3: Customer satisfaction occurs when acquisition of products and/or services provides a minimum negative departure from expectations when compared with other acquisitions.There are many factors which lead in high levels of customer satisfaction including. This occurs when they feel that the products and services that they buy have been specially produced for them or for people like them. Gaining high levels of customer satisfaction is very important to a business because satisfaction customers are most likely to be loyal and to make repeat orders and to use a wide range of services offered by a business . Definition 2: Customer satisfaction is the perception of the customer that the outcome of a business transaction is equal to or greater than his/her expectation. Customer satisfaction levels can be measured using survey techniques and questionnaires . . What is clear about customer satisfaction is that customers are most likely to appreciate the goods and services that they buy if they are made to feel special.INTRODUCTION Customer satisfaction refers to the extent to which customers are happy with the products and services provided by a business. Products and services which are customer focused and hence provide high levels of value for money. DEFINITIONS: Definition 1: Customer satisfaction is equivalent to making sure that product and service performance meets customer expectations.
We need to know what our customers expect from the products and services we provide. Customer expectations have two types – Expressed Implied Expressed Customer Expectations are those requirements that are written down n the contract and agreed upon by both parties for example. need to keep informed about the latest customer satisfaction techniques for running a valuable customer service function. From small customer service departments to large call centers. Implied Customer Expectations are not written or spoken but are the ones the customer would ‘expect’ the supplier to meet nevertheless. What Do Customers Want? Before we begin to create tools to measure the level of satisfaction. product specifications and delivery requirements. For example. There are many reasons why customer expectations are likely to change overtime.BENEFITS OF CUSTOMER SATISFACTION The importance of customer satisfaction and support is increasingly becoming a vital business issue as organization realize the benefits of Customer Relationship Management (CRM) for providing effective customer service. Professionals working within customerfocused business or those running call centers or help desks. it is important to develop a clear understanding of what exactly the customer wants. . Supplier’s performance against these requirements is most of the items directly measurable. the importance of developing a valued relationship with customers using CRM is essential to support customer and long-term business growth. advent of new technology. Process improvements. changes in customer’s priorities. a customer would expect the service representative who calls on him to be knowledgeable and competent to solve a problem on the spot.
Overall communication. WHAT CONSTITUTES SATISFACTION? We cannot create customer satisfaction just by meeting customer’s requirements fully because these have to be met in any case. Supplier’s job is to provide the customer what he/she wants. accessibility and attitude.Major Attributes of customer satisfaction in banking industry can be summarized as: • • • • • • Product quality Premium Outflow Return on Investment Services Responsiveness and ability to resolve complaints and reject reports. However failing short is certain to create dissatisfaction .improved quality of service provided by competitors are just a few examples. The customer is always right. Customer satisfaction is customer’s perception that a supplier has met or exceeded their expectations. when he/she wants it. WHAT ARE THE TOOLS? Customer expectations can be identified using various methods such as: Periodic contract reviews • • • • • • Market research Telephonic interviews Personal visits Warranty records Informal discussions Satisfaction surveys .
Enough homework needs to be before embarking on the actual survey. The basic purpose is to find out what we are doing right or wrong. This includes: • • • • • • Defining Objectives of the Survey Design Survey approach Develop questionnaires and forms Administer Survey (Email. How we can serve the customer better? A customer satisfaction measurement survey should at least identify the following objectives: • • • • Importance to customers (Customers priorities) Customer’s perception of supplier’s performance Your performance relative to customer’s priorities. we can choose a method that is most effective in measuring the customer’s perceptions. CUSTOMER SATISFACTION SURVEYS Formal survey has emerged as by far the best method of periodically the customer satisfaction. Where is the scope for improvement. where do we stand vis-à-vis other suppliers. We must develop a method or combination of methods that helps to continually improve service. Priorities for improvement . The purpose of the exercise is to identify priorities for improvements.Depending upon the customer base and available resources. Telephone or Post) Method of compiling data and analyzing the findings Format of the report to present the findings There is no point in asking irrelevant questions on a customer satisfaction questionnaire. The survey are not marketing tools but an information—gaining tool.
finance and purchase person etc. Space should always be provided for the customers own opinions this enables them to state any additional requirements or report any shortcomings that are not covered by the objective questions. you could provide the rating that was previously accorded by the customer. For repeated surveys. They should be designed to actively encourage the customer to complete the questions. we deal various personnel at various levels in the customer’s organization— the buyer. for each requirement. It may be necessary to device a different questionnaire for each of them. Respondents must be provided a way to express the importance they attach to various survey parameters. Respondents should be asked to give a weighting factor. This works like a reference point for the customer. user. This can be achieved by incorporating objective type questions where customer has to “rate” on scale of say 1 to 10. Yet they must provide accurate data should also be sufficiently reliable for management decision making. surveying a number of respondents for each customer gives a complete perspective of customer satisfaction. 1 to 10. . receiving inspector. Normally. This gives a better indication of relative importance of each parameter towards overall customer satisfaction and makes it easier for suppliers to prioritize their action plans by comparing the performance rating (scores) with importance rating (weighing). again on a rating scale of say.Survey forms should be easy to fill out with minimum amount of time and efforts on customer’s part.
Pre purchase alternative evaluation.CONSUMER RESEARCH IN DIFFERENT DISCIPLINES A considerable body of literature exists on consumption. CONSUMER SATISFACTION PROCESS The paramount goal of marketing is to understand the customer and to influence buying behaviour. Need recognition. 6. Post purchase alternative re-evaluation. consumer behaviour and consumer decision making process. We . Consumption(utilization of the procured option) 5. Divestment(disposal of the unconsumed product and it’s remnants) WAYS FOR MAINTAINING RELATIONS WITH THE CUTOMERS ADOPTED BY PNB The ability and of in the the banking process industry bringing to more achieve and the more socio-economic customers into objectives its fold will ultimately depend on the satisfaction of the customers. Most of the consumer research focused on adopter categories. 3. 2. Search for information. 4.attitudes and intentions rather that on actually measuring the satisfaction level with the service. The process can be depicted as follows:1. habits.realization of the difference between the desired and the current situation that serves as a trigger for entire process.
keep to Customer service us by the bring Meets. many Languages subsequent . their feel in to with our all to clientele improve about comment the on through and are various the requested services We Code. A need was felt by us at Punjab National Bank that in order to become more customers friendly the Bank should come out with Charter of its services as was and officials also a for base the This customers. However. This is not a legal document creating rights and obligations. highlights commitments for along the customers satisfaction. We range to maintain of constant to consultations etc. We wish to acknowledge the initiative taken by the Ministry of Finance. to fill document Bank's Code on Citizens' this was Charter and in and with part concept accordingly consultation towards responsibility not only the of redressed customers was this with the considered document the users its our but customer instrument our This need made prepared. Seminars. The Code has been prepared to promote fair banking practices and to give information in respect of various activities relating to customer service. Government of India and Ministry of Administrative Reforms and Public Grievances for encouraging us to bring out this Code.have a strong belief that a satisfied customer is the foremost factor in developing our business. free our customers informed Bank it experiences Regional various this in rendered intend years. and commitment thus and the ensuring accountability amongst explains methods for staff. of and out evaluate widen customer. responsibilities obligation specifies healthy practices in Customer-Banker relationships.
9. Accord immediate credit in respect of outstation and local cheques upto a specified limit subject to certain conditions. 5. 4. Render courteous services. 2. Display Time-Norms for various banking transactions. 10. individual hirers). Pay interest for delayed credit of outstation cheques. Attend to all customers present in the banking hall at the close of business hours. . 3. Provide separate 'Enquiry' or 'May I help you' counter at large branches. Display business hours. as advised by Reserve Bank of India (RBI) from time to time. Offer nomination facility to all deposit accounts (i. Pay Orders. Display interest rates for various deposit schemes from time to time. 8. Notify change in interest rates on advances. 7. as advised by RBI from time to time. etc.e.COMMON PRACTICES FOLLOWED BY PNB BRANCHES 1. Display address of Regional/Zonal and Central Offices as well as Nodal Officer dealing with customer grievances/complaints. 14. account opened in individual capacity) and all safe deposit locker hirers (i. Provide complaint/suggestion box in the branch premises. Issue Demand Drafts.e. 13. 12. 11. 6. Provide details of various deposit schemes/services of the Bank.
organizes and interprets the Quality of service and product offered by banks. This study will help companies to customize the service the consumer’s need. The market is more aware and realistic about investment and returns from financial products. satisfaction of the customers regarding the banking services. The study will be able to reveal the preferences. the greater the expected SCOPE OF THE STUDY This study is limited to the consumers with in New Delhi city. needs. In this background this study tries to analyze the customer satisfaction towards banking services in general and PNB in particular. according to needs and satisfaction. It also help banks to know whether the existing products or services the are offering are really satisfying the customers needs. This Study will help us to understand the consumer’s satisfaction about banking services and products. This study will also help the companies to understand the expectations of the existing customers. the earlier the product or service is introduced ahead of competition. Hence the study is very important. how a consumer selects. NEED FOR THE STUDY The deeper the company understands of consumer’s contribution margin. OBJECTIVE OF THE STUDY .Statement of prob. experience and and product. This study will help banks to understand.
To have an insight into the attitudes and behaviors of customer. or events. To find out the differences among perceived service and expected service. A descriptive study tries to discover answers to the questions who. “Search for knowledge”. often by creating a profile of a group of problems. To produce an executive service report to upgrade service characteristics. To understand consumer’s preferences. Such studies may involve the collection of data and the creation of a distribution of the number of times the researcher observes a single event or characteristic (the research variable). people. sometimes. when. and suppliers already have significant data to conduct descriptive studies using internal information. customers. or they may involve relating the interaction of two or more variables. where. Research is “systematized effort to gain new knowledge”. . Organizations that maintain databases of their employees. To access the degree of satisfaction of the consumers RESEARCH METHODOLOGY Research simply means. and. According to Roman and More. how. Yet many firms that have such data files do not mine them regularly for the decisionmaking insight they might provide. what. The researcher attempts to describe or define a subject.
SAMPLING METHOD A sample is a representative part of the population. SAMPLE SIZE Sample size denotes the number of elements selected for the study. Descriptive studies may or may not have the potential for drawing powerful inferences. and adequacy. efficiency. For the present study. 100 respondents were selected at random. All the 100 respondents were the customers of different branches of PNB. descriptive investigations have a broad appeal to the administrator and policy analyst for planning. It is a nonprobability sample. METHOD OF DATA COLLECTION . Example includes informal pools of friends and neighbours or people responding to a newspaper’s invitation for readers to state their position on some public issue. how questions address issues such as quantity. SAMPLE METHOD Convenience sampling method is used for the survey of this project.This descriptive study is popular in business research because of its versatility across disciplines. however. information is collected only from a representative part of the universe and the conclusions are drawn on that basis for the entire universe. cost. monitoring. In this context. does not explain why an event has occurred or why the variables interact the way they do. not-for-profit and government organizations. thus the name convenience. In sampling technique. In for-profit. A descriptive study. A convenience sampling technique was used to collect data from the respondents.In this method Researcher have the freedom to choose whomever they find. This is the least reliable design but normally the cheapest and easiest to conduct . effectiveness. and evaluating.
It is a conceptual structure with in which research is conducted. Questionnaires were distributed to respondents and they were asked to answer the questions given in the questionnaire. Research design means the framework of study that leads to the collection and analysis of data. The success of the questionnaire method in collecting the information depends largely on proper drafting. the researcher used questionnaire method. Secondary data are usually in the shape of finished products. Research is the systematic objective and exhaustive search for and study of facts relevant to the problem . It has been designed as a primary research instrument. The questionnaires were used as an instrumentation technique. coding and analysis was done for each question’s response to reach into findings. and relevant strategies can be developed based on the information gathered through research. Further. Two types of secondary data were collected for the preparation of the project work: . SECONDARY DATA Secondary data are those.To know the response. A wellstructured questionnaire was personally administrated to the selected sample to collect the primary data. DATA COLLECTED : Every decision poses unique needs for information. It facilitates smooth sailing of various research operations to make the research as effective as possible. suggestions and finally to the conclusion about the topic. which have already been collected by some other persons for their purpose and published. they are collected for a particular purpose. PRIMARY DATA Primary data are those collected by the investigator himself for the first time and thus they are original in character. because it is an important method of data collection. So in the present study questions were arranged and interconnected logically. The structured questionnaire will reduce both interviewers and interpreters bias.
TYPE OF RESEARCH : The present study is based on the type of research that is ‗analytical research‘ which includes main purpose to analyze the different process. 3. some respondents tend to give misleading information. on the other hand. Time Constraints: The time stipulated for the project to be completed is less and thus there are chances that some information might have been left out. LIMITATIONS OF THE STUDY Although the study was carried out with extreme enthusiasm and careful planning there are several limitations. research books. was generated from magazines. Accuracy: It is difficult to know if all the respondents gave accurate information. methodologies and procedures which have been developed by RBI and PNB. however due care is taken to include all the relevant information needed. Here researcher has the opportunity to develop some new models and can do a lots of practical work on different types of models which has been developed by RBI. 1. which handicapped the research viz. 2. intranet and internet (websites). manuals and annual reports External Data. .• • Internal Data was generated from company’s brochures. Sample size: Due to time constraints the sample size was relatively small and would definitely have been more representative if I had collected information from more respondents. INSTRUMENTS USED : Chart and percentage method were used to prepare the project report.
TABLE 5. and other products) . loans.1 SHARE OF DIFFERENT TYPES OF ACCOUNTS Analysis: Above table shows that 78% respondents have Saving A/Cs. and 9% have Current A/Cs and rest of the respondents have 13% share of other A/Cs in total (which includes fixed deposits.
TABLE 5. .Interpretation: This means most of the respondents are having Saving A/Cs which means the bank deposits are enriching as Saving A/Cs share is most.2 SATISFACTION OF RESPONDENTS WITH SERVICES OFFERED BY PNB BRANCH Analysis: From the above table it could be inferred that 89% of the consumers are satisfied with the service and quality of products of their bank. Only 11% of consumers are not satisfied.
3 RATINGS OF THE SERVICES OFFERED BY THE RESPONDENT’S LIFE INSURANCE COMPANY Analysis: From this table it could be inferred that 76% of the consumers have rated service offered as ‘good’. 9% of them have rated them as ‘very good’. Presently the bank offers varieties of services and the customers are getting a good rate of return from their deposits.Interpretation: Most of the respondents are satisfied with the service offered by PNB. Customers are getting good service from the bank. and 05% of them have rated as excellent and average’ while only 4% have rated as ‘poor’. TABLE 6. .
Interpretation: Service offered by the bank is improving day by day. From this table we can . Banks are providing agood service to the customers due to increased competition in the market. very good and excellent because of the customer service offered by the bank. Majority of the customers rates good.4 TABLE SHOWING MOTIVE BEHIND THE SELECTING PNB Analysis: This table show the strengths and weaknesses of the brand. This may be the reason for more satisfaction TABLE 5. and what are the important criteria or factors on which decision-making is done. Returns consumersare getting are also attractive.
infer that consumers give more importance for ‘Brand name’.5 CONSUMERS WILLINGNESS TO RECOMMEND THEIR LIFE INSURANCE COMPANY TO OTHERS . Interpretation: This purely shows that people are now looking forward for better customer service in addition to the brand name in which they are investing and the returns they are getting. and then ‘returns on investment’. TABLE 5. secondly they prefer ‘satisfaction’.
.6 CONSUMERS WILLINGNESS TO SHIFT THEIR A/Cs TO OTHER BANKS Analysis: From this table it can be noted that the majority of consumers (92%) doesn’t like to shift their A/Cs to other banks. Interpretation: Since the competition has increased in the field of benefits and service of banking.Analysis: From this table it can be noted that the majority of consumers (92%) would like to recommend their bank services to others and only 8% of consumers would not like to recommend it to others. so that they are willing to recommend their bank services to others. TABLE 5. So customers are getting good service.
CHAPTER 6 .Interpretation: The reason can be increasing customer satisfaction and quality services offered by the bank.
• PNB needs an efficient and experienced marketing force which can improve it’s market share. • • There is attention lacking where Return on investment company reputation and premium outflow are most preferred attributes that are expected by the respondents. . • Majority of PNB customers are visible for savings where as PNB requires current savings or unit link savings to invested. • Pnb is not using any promotional strategy for product awareness which is highly required. PNB should adopt better strategies to attract more customers. PNB does not have any consumer complaint or feerdback cell which is highly required for customer retaining and satisfaction.Findings of Research • Due to the intense competition in the financial market.
only the customers will be satisfied. Due to the intense competition in the financial market. consumers respond at different rates. The PNB brand name has earned a lot of goodwill and enjoys high brand equity. then the reasons for dissatisfaction should be found out and should be corrected in future. The bank should try to increase the Brand image through performance and service then. If they are dissatisfied. Hence I PNB should try to bring their new product and services to the attention of potential early adopters. PNB should adopt effective promotional strategies to increase the awareness level among the consumers. PNB should ask for their consumer feedback to know whether the consumers are really satisfied or dissatisfied with the service and product of the bank.SUGGESTIONS & RECOMMENDATIONS With regard to banking products and services. As there is intense competition. Return on investment company reputation and premium outflow are most preferred attributes that are expected by the respondents. Hence greater focus should be given to these attributes. PNB should adopt better strategies to attract more customers. Majority of the people find banking important in their life. so PNB should employ the strategies to convert the want in to need which will enrich their business . depending on the consumer’s characteristics. PNB should work hard to maintain its position and offer better service and products to consumers.
com www. Wikepedia.com.Pnb.gov. Pnbindia.in . www. Google.com www.Rbi.BIBLOGRAPHY Financial Management theory and practice by Prassanna Chandra Www.com www.
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