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EXECUTIVE SUMMARY

This project was a wonderful experience and a great opportunity to know real corporate world. I got exposure to the real practical world of Finance and Banking and its implementation in a Bank.

In KMBL, I got the opportunity to study about various system and methodology of Finance and Bank. Also got the opportunity to evaluate practical knowledge of operation dept. and sales dept. at KMBL for my primary data.

In brief I can define my PROJECT program as a complete guideline of my future as a finance manager.

OBJECTIVE OF STUDY

The basic purpose of the Training is to impart practical knowledge to the student. The main purpose of the project at Kotak Mahindra Bank was to gain practical knowledge of sales and operation department.

The reason behind the study is to acquire the practical knowledge of work of sales and operation department. I studied and read in the book but it does not give the real vision of the scenario. So I used to deeply study this topic and make my effort on the Banking function.

So the objective was to have effective information and knowledge about Sales and Operation department and I got more than my expectation at KMBL.

INTRODUCTION OF BANKING IN INDIA

Banking in India has its origin as early as the Vedic period. The General Bank of India was the first Joint Stock Bank to be established in the year 1786. In 1809, first Presidency bank was set up by the name of Bank of Bengal, closely followed by Bank of Bombay (1840) and Bank of Madras (1843). All the Presidency banks were merged into Imperial Bank in the year 1921. Imperial Bank was merged along with a few other banks and SBI was formed in 1955.

First Indian bank established in 1865 by European management, was named Allahabad Bank, The first bank with Indian management was Punjab National Bank, which was established in 1895.

In 1935, RBI was set up under RBI Act which was nationalized in the year 1949. 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. Today the commercial banking system in India may be distinguished into:

PUBLIC SECTOR BANKS

 State Bank of India and its associate banks called the State Bank group  20 nationalized banks  Regional Rural Banks mainly sponsored by Public Sector Banks

 PRIVATE SECTOR BANKS

 New generation private banks  Foreign banks in India  Old generation private banks  Scheduled Co-operative Banks  Non-scheduled Banks

 CO-OPERATIVE SECTOR The co-operative banking sector has been developed in the country to the supplement the village money lender. The co-operative banking sector in India is divided into 4 components

 State Co-operative Banks  Central Co-operative Banks  Primary Agriculture Credit Societies  Land Development Banks  Urban Co-operative Banks  Primary Agricultural Development Banks  Primary Land Development Banks  State Land Development Banks  DEVELOPMENT BANKS

 Industrial Finance Corporation of India (IFCI)  Industrial Development Bank of India (IDBI)  Industrial Credit and Investment Corporation of India (ICICI)  Industrial Investment Bank of India (IIBI)  Small Industries Development Bank of India (SIDBI)  SCICI Ltd.  National Bank for Agriculture and Rural Development (NABARD)  Export Import Bank of India  National Housing Bank

ABOUT KOTAK GROUP

The Kotak Mahindra group is a financial organization established in 1985 in India. It was previously known as the Kotak Mahindra Finance Limited, a non-banking financial company. In February 2003, Kotak Mahindra Finance Ltd, the group's flagship company was given the license to carry on banking business by the Reserve Bank of India (RBI). Kotak Mahindra Finance Ltd. is the first company in the Indian banking history to convert to a bank. Today it has more than 20,000 employees and Rs. 10,000 crore in revenue.

This company was promoted by UdayKotak, Sidney A. A. Pinto and Kotak& Company. the customer base of this group is more than 14 lakh.Industrialists Harish Mahindra and Anand Mahindra took a stake in 1986, and that's when the company changed its name to Kotak Mahindra Finance Limited.

It bought stressed assets from a number of banks, at full loan value of Rs 1,000 crore in 2005.In January 2011, the bank reported a 32% rise in net profit to Rs188 crore for the quarter ended December 2010 against Rs. 142 crore the corresponding quarter last year. Kotak Mahindra bank also reached the top 100 most trusted brands of India in The Brand Trust Report published by Trust Research Advisory in 2011.

KMBL PROFILE

Type Treated As

Pri te B : 500247

NSE: KOTAKBANK Industry Headquarter Banking Kotak Mahindra Bank Ltd., Nari anBhavan, Nari an Point, Mumbai, India Key People Mr. K. M. Gherda, Mr. dayKotak, Dr. Shankar Aacharya Products Deposit accounts, Loans, Investment services, Business banking Solutions, Treasury and Fi ed income products. Revenue Net Income Website 9,985.89 crore ( S$2.23 billion)(2010) 1,327.36 crore ( S$296 million)(2010) www.kotak.com

SWOT Analysis of KMBL


Strength Professional Management Strong Technology Well Capitalized Comprehensive Cash Management System Total Deposit Rs.15,645 crore Net Advances Rs.16,625 crore Weakness Late Comers Less Promotional Activities Opportunity Have best service and products compare to other banks Threat Capital Market Slow-down Other Better Saving Facility By Other Competitor Rising Rates Government Rules And Regulations

RESEARCH METHODOLOGY

The search for knowledge through objective and systematic method of finding solutions is a research SOURCES OF DATA Data is collected from primary as well as secondary source. And profiles given by the bank & thenrandomly members selected from total report given. For primary data customer were personallyintervened and for secondary data. Annual report, journals, internet and personal interview

METHODOLOGY
 DATA SOURCE Primary data The data that is collected first hand by someone specifically for the purpose of facilitating the studyis known as primary data. So in this research the data is collected from respondents throughquestionnaire.

Secondary data: For the company information I had used secondary data like brochures, web site of the companyetc. The Method used by me is Survey Method.

 RESEARCH INSTRUMENTS Selected instrument for Data Collection for Survey is Questionnaire.  SCOPE OF THE STUDY

Access the Market Potential of Kotak Mahindra Bank Saving Account with the help of a survey conducted on a total of 30 Respondents (20-Kotak Mahindra Bank customers, 100Other Bankscustomers).

 LIMITATIONS The study could not be made that comprehensive due to time constraints. Some customers feeluncomfortable to reveal some personal information relating to income, Privacy etc. it might havehappened that some more essential information could have been collected.  Time constraint.  Biases and non-cooperation of the respondents.  Financial constraint.  Geographical selectivity in study limiting to Bhuj city only.  People are not interested in giving personal opinion.

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MEANING OF BANKING

Banking has come to occupy a pivotal position in a nations economy. According to the modern concept, banking is a business which not only deals with borrowings, lending and remittance of funds, but also an important instrument for fostering economic growth. The Banking Regulation Act 1949, defines the term banking as the accepting for the purpose of lending or investment of deposits of money from the public or otherwise and withdraw able by cheque, draft, order or otherwise. Thus, the essentials of banking are: (1) There should be acceptance of deposited. (2) Deposits should be from the public. (3) Deposits should be repayable on demand or expiry of a term or after a specified periods.

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RETAIL BANKING AND PRODUCTS

Retail banking refers to banking in which banking institutions execute transactions directly with consumers, rather than corporations or other banks. Services offered include: savings and transactional accounts, mortgages, personal loans, debit cards, credit cards and so forth.

RETAIL BANKING PRODUCTS

DEPOSIT

INVESTMENT

PRODUCT

NRI SERVICE

OTHER SERVICES

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Kotak Mahindra Bank is one of the prominent subsidiaries of Kotak Mahindra Group. The basic area of operation 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.

BANKING ACCOUNTS There are three types of banking account:  Savings Account  Current Account  Term Deposit SAVINGS ACCOUNT Choose from our range of Savings Accounts

KOTAK MAHINDRA has got a variety of options of savings accounts to choose from for its customers according to their convenience and requirements .These savings accounts offer attractive returns along with personalized banking services at three convenient average quarterly balances (AQB) levels of Rs. 10000 (KOTAK EDGE SAVINGS ACCOUNT),Rs. 20000 (KOTAKPRO SAVINGS ACCOUNT) and at Rs75000(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. Thus the three account opening options in savings account are as mentioned above:

 EDGE SAVINGS ACCOUNT:


Kotak Mahindra Bank s Edge Savings Account is a complete financial package customized to suit individual banking needs. Its constantendeavor is to enable regular financial transactions through online platform so that most of payments can be made directly through your account or card.

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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!

Multiple Access Channels Access An account through phone, mobile phone or internet to get information about account balance ortrack transactions. One can even transfer funds through Phone Banking or Net Banking.

Financial payments facilitated through the savings account 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 Quick funds transfer to a third party account with another Bank is available across 15 locations through Net Banking. Also get a multi-city cheque book so that money from account is received by the beneficiary in the fastest possible time.

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 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.

Attractive returns Earn better returns in your savings account, with our 2-Way Sweep facility that automatically sweeps out idle

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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:


Kotak Mahindra Bank s Pro Savings Account is an account packed with powerful features to provide a superior banking experience at a very comfortable balance requirement. They provide a relationship manager who will specifically take care of banking and investment needs.

Features & Benefits


Free ATM access all domestic VISA ATM network 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 youspot, for cash withdrawal or balance enquiry transactions.

Multiple access channels Access your account through phone, mobile phone or internet to get information on your account balance or track your transactions. You can even transfer funds through Phone Banking or Net Banking.

Free investment account One can open an investment account, and use the Net Banking facility to purchase/redeem mutualfunds 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 NAVinformation and research reports.

Financial payments facilitated through the savings account

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Use our 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 Quick funds transfer to a third party account with another Bank is available across 15 locations through Net Banking. Also get a multi-city cheque book so that money from account is received by the beneficiary in the fastest possible time

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.

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

Free banking transactions You can issue demand drafts or send cheques for collection on branch locations without any charge to your account.

 ACE SAVINGS ACOUNT:


Kotak Mahindra Bank's Ace Savings Account has been designed as a gateway to a world of financial benefits and privileged banking transactions. The account carries benefits ranging from personal investment advisory services to concierge services to free banking transactions. One will find that this package of services and privileges is unmatched by any other savings account in the market

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Features & Benefits

Free access at all domestic and international VISA ATMs No longer have to worry about locating your Bank or Partner Bank ATM - Use the first VISA ATM that you spot, for free cash withdrawal or balance enquiry transactions. So walk into any VISA ATM in India or abroad to withdraw cash or for balance enquiry.

Multiple access channels Access the account anytime through land line, mobile phone or internet to get information on account balance or track transactions. One can even transfer funds through Phone Banking or Net Banking.

Financial payments facilitated through the savings account 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 Transfer funds easily and with speed, to a beneficiary account at another bank. One can avail of this facility by walking into any of branches or by simple logging on to Net Banking. Also get a freemulti-city cheque book so that money from your account is transferred to the beneficiary's accountant any of branch locations, in the fastest possible time.

Free banking transactions 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 automaticallysweeps out idle funds, above a threshold, from your account into Term Deposits. These TermDeposits sweep back into account to meet fund requirements when withdrawals exceed thebalance available in the account, thereby providing maximum liquidity

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 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 (KOTAKPRO 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! Thus the three account opening options in savings account are as mentioned above:

 Edge Current Account In need of a well equipped bank account to keep pace in all the business endeavors. They offer the Kotak Edge Current Account, armed with Kotak 2-Way Sweep and the entire gamut of Banking Privileges, providing that extra edge to get ahead. The feature rich Kotak Edge Current Account is the ideal way to make money work harder

Features & Benefits

Multi City Banking Current account/s with Kotak Mahindra Bank will be recognized in every other branch. One can just walk into a Kotak Mahindra Bank branch in any of our branches across country to satisfy all the banking needs.

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2-Way Sweep*: Term Deposit linkedCurrent 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.

Free Demand Drafts and Pay Orders Enjoy the benefit of our free Demand Drafts, payable at Kotak Mahindra Bank Branch location inIndia.

At-par Cheques Get free At-par Cheques that are treated as 'local clearing' cheques across all branch locations. All these at nominal costs.

ChequeCollection All Outstation cheques, drawn on any of branch locations, are collected 'at nominal charge' for you.The strong network of correspondent banks enables us to collect cheques from 1600 locationsacross India at faster speed and minimal cost

Mobile Banking and Alerts Our Mobile Banking & Alerts service enables to access bank account on Mobile Phone. One canaccess all your standing instructions (SI), any large credits or debits, available balance, balancebelow AQB, any SI failure and SIs successfully executed will be intimated to you via SMS.

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 PRO Current Account 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 harde

Key Features  Dedicated Relationship Manager  Free Demand Drafts & Pay Orders  Free At Home Services  Better Forex rates and Efficient Trade Services

 ACE Current Account 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

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 TERM DEPOSIT

Key Features  Ease and convenience of operation  Liquidity through overdraft or sweep-in facility  No penalty on pre-mature encashment  Nomination facility available Give your portfolio stability of returns and safety and liquidity. Invest in Kotak Bank Term Deposit. Itoffer attractivereturns on term deposits and investing in them is really simple and convenient. Features & Benefits

Ease and convenience of operation For the first time in India, New to Bank customer can also apply online for term deposit. An existing customercan place a term deposit through Phone Banking or Net Banking. What'smore, one can even renew this deposit by placing an instruction over phone. Needless to mention,he can do all this and more by walking across into any of branches.

Liquidity through overdraft or sweep-in facility Deposit will be available to you should you need them in case of an emergency. One can avail upto85% overdraft against term by paying 2% above deposit rate. This facility is available for depositsabove Rs.50,000 for a tenure of 181 days or more. One can also choose to link termdeposit to savings / current account, whereby if need be, term deposit will automatically beencashed to meet withdrawal requirement.
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No penalty on pre-mature encashment In case term deposit is pre-maturely encashed,one will earn interest at the rate prevailing on thedate of deposit for the withdrawn amount.

Nomination facility available One can avail this facility for each & every account that open with us i.e. nominate differentpersons for different term deposit accounts can choose to change the nominee through adeclaration in the appropriate form to revise the nomination during the term of the deposit

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INVETSMENT SERVICES

Making your money grow

At Kotak Mahindra Bank,can recognize that financial needs vary, not just amongst individuals, but across the different stages of your life. They have years of experience in helping people put together an investment portfolio that works best for them.

DEMAT

Key Features  Efficient depository services that allow you to hold your shares inconvenient, "demat" formats  Leverage opportunities in the stock-market when you spot them
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It offers streamlined, efficient depository services that allow to hold shares in the convenient"demat" formats and leverage opportunities in the stock-market when you spot them Beinga brokerage house, the company isin regular touch with the share market and its relative indexes like NSE & BSE, NCDEX, NSDL, CSDL

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CONVENIENCE BANKING
Anywhere, Anytime 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. .

Multiple Banking Channels Today the technology driven banks are finding various means to reduce costs and reach out to as many customers as possible spread over a diverse area. This has led to using multiple channels of delivery of their products.

ATM (Automatic Teller Machine):


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 productsals. An ATM does the basic function of a banks branch, i.e., delivering money on demand. Hencesetting 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 cashwithdrawal 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, thereare 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 machinesalso hold the keys to future operational efficiencyAccount holders of Kotak Mahindra Bank Saving Account having Visa Electron Debit Card canaccess other Banks ATM machines unlimited times per month for free, after that the Accountholder has to pay nothing for the transaction. But also
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holders of ATM cards cannot accessmachines belonging to other Banks.The number of ATM machines installed by Kotak Mahindra Bank is 20 in Delhi and the All Indiatally 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 isworrying for Kotak Mahindra Bank

 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.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
This means carrying out of banking transaction through the telephone. A customer can call up the banks help line or phone banking number to conduct transactions like transfer of funds, makingpayments, checking of account balance, ordering cheques, etc. This also eliminates the customer of the need to visit the banks branch.

 Mobile Banking
Banks can now help a customer conduct certain transactions through the Mobile Phone with the help of technologies like WAP, SMS, etc. This helps a bank to combine the Internet and telephone and leverage it to cut costs and at the same time provide its customer the convenience. Thus it can be seen that tech savvy banks are tapping the entire above alternative channels to cut costs improve customer satisfaction

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 SMS Banking
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.

STRATEGIC

ALLIANCES

ENTERED

BY

KOTAK

MAHINDRA

BANK NATIONAL ATM ALLIANCES


The Institute for Development and Research in Banking Technology (IDRBT), a group established by the Reserve Bank of India (RBI) in 1996, has planned to set up a national switch to hook up all of the country's 10,000-odd ATMs.The idea of establishing ATM interconnectivity through a national switch has been approved by theinformation chiefs of various Banks.The expected cost of transactions routed through the switch is to be under 10 rupees (21 centsU.S.) each, due to the high volumes of transactions -- almost 100,000 per day.

CASH NET
It is an Alliance between Citibank, Industrial Development Bank of India, Kotak Mahindra Bank andUTI Bank. This is the country's first independent shared ATM network.IDBI Bank received permission from the Reserve Bank (RBI) to serve as the network's settlementbank.Cash net will give access to more than 1,300 ATMs for more than 6 million debit cardholders of the member banks. The Alliance would constitute about a third of the total card base and 15 percent of the ATM base in the country.

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Kotak Mahindra Bank and REDIFF.com REDIFF.com India and Kotak Mahindra Bank have entered into an alliance to provide online andoffline banking and related services to the Indian consumer.The alliance will enable information on the entire range of the banks consumer banking products tobe made available to the 6.4 million online customers of Rediff.com. The services offered include detailed information on various deposits, loans and mortgages, credit cards, mutual funds and insurance products of the bank. Users will be able to directly interact with the bank and request for products online

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NRI SERVICES

NRIs An Indian Citizen who stays abroad for employment/carrying on business or vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a non-resident.

Eligibility for opening NRI accounts:

Who can open NRI accounts:-

   

NRIs and PIOs as per FEMA definition Seafarers of Indian nationality / origin employed by overseas shipping companies, or Indian government employees with Diplomat passports, or Students pursuing studies in foreign countries.

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Who CANNOT open NRI accounts:-

       

Indian citizens who travels aboard for health and medical treatment / check up, or Indian citizens who tour overseas for their short visits whether on excursion or business promotion activities, or Indian citizens going overseas for leisure , or Indian nationals / Indian origin people residing in Bangladesh or Pakistan without prior approval of RBI, or Indian nationals / Indian origin people residing in Nepal and Bhutan, or Seafarers of Indian nationality / origin employed by Indian shipping companies, or Foreign Citizen visiting India for employment / business purpose, or PIO visiting India for purpose of employment / studies.

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Non Resident Account Opening Process

Sales Representative to explain the account features to the interested customer and basis the requirement, advice about the account that suits Customers need.

The customer fills in the AOF and attaches all the self attested relevant documents as per NRI-KYC along with Initial payment cheque.

The Sales Representative has to attach individual profile sheet and NR checklist along with AOF and documents and hand it over to BOM/SM/BM of the Branch.

The BOM/SM/BM will check the AOF for its completeness and send it to NR CPC.

On receipt of the same, NR CPC sends it to DVU for checking of the AOF and documents.

If there is any discrepancy in the form it will be put on hold / reject basis the reason. If it is on hold the form will get released after proper resolution being provided by the branch within permissible TAT whereas the rejected form will return back to respective branches with memo attached for necessary rectification. Afterward, if the AOF and documents are in line with requirements, then the form will be sent for further processing (account creation / welcome kit generation / dispatch).

Rectified documents along with AOF are received from branch by NR CPC and the documents are checked.

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The various banking products which are offered to NRI /PIO Customers:-

1. Core Products

Bank

R pee

nt

F reign C rrency ccount

Fi e Deposit Only

Saving / C rrent nt

Fi e / Re rring Dep it

Saving / C rrent nt

Fi e / Re rring Dep it

n Re i ent Or inary ( RO)

 

 

 

n Re i ent E ternal ( RE)

Foreign Currency on Re i ent (FC R)


nt

   

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2. Special Products

Max Yield NRO Deposit (DTAA)

Rupee Advantage Plan (RAP)

High Yield Currency Plan (HYCP)

Features of NRE Account:Basic Features     Rupee account opened by NRIs/PIOs for parking income earned from foreign sources. Available in saving, current and term deposit. Fully and freely repatriable deposit (both principal and Interest). Interest earned on saving account is 3.50% while Fixed Deposit interest is linked to the LIBOR as per direction of RBI from time to time. Currently it is LIBOR + 175 basis points.    To earn interest on fixed deposit, it needs to be kept for minimum of one year and above to maximum up to 3 years. Cheque book facilities are available for Savings & current accounts along with direct channel facilities (phone banking, net banking and global visa debit card). Overdraft facility is available to account holder as well as third party resident in India against term deposits.

Account operation   It can be jointly opened by NRIs/PIOs. Mandate facility is available in NRE accounts.
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Taxation  The principal amount and the interest earned on an NRE Account are exempt from Income Tax in India.

Kotak Bank USP's      Dedicated relationship Manager. Online account opening. Convenience Banking. Online chat. Click2call.

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OTHER SERVICES
 HOME BANKING With the launch of this service, Kotak Mahindra Bank can deliver money, demands drafts and pickup cash and cheques for deposit into the customers account at/from the customers doorstep. The customer can place the request through the Customer Contact Center or through Net Banking.

The money thus collected from customers will be credited to their account on the same working day or by the next working day.

The facility includes cheque pick up or draft delivery - once a day and cash pick up or delivery - once a day (min. Rs 5000, max. Rs 2, 00,000) - once a day. There is no restriction on the number of cheques or drafts picked / delivered.

Speaking on the occasion, KVS Manian Head Retail Liabilities & Branch Banking said, With the launch of this service, Kotak Mahindra Bank has succeeded in bringing your bank to your doorsteps, improving an individuals banking experience. This truly defines the way we look at customer satisfaction doorstep. at-your-service, at-your-convenience and at-your-

Kotak Mahindra Bank offers complete financial solutions for infinite customer needs. The Banks home banking service will allow customers to attend to their banking needs in the comfort of their own home or offices and at their convenience just through a phone call or via the Internet, thus saving time, energy and costs.

 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 todays fast paced life where people who hold Accounts with the Bank are busy working it
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is important that they can find a way to visit the Bank without having to miss out on work. The Average Banking Hours of Kotak Mahindra Bank is from 9am to 7pm, the Bank is open to the public for ten hours. These timings are convenient for especially those Account holders who are working, these people can visit the Bank after their Office finishes.

 Best Compliments Card - the perfect gift Introducing Best Compliments Card - the prepaid card from Kotak Mahindra Bank which is useful at any place that accepts Visa cards, be it a shopping mall, a restaurant or a multiplex.  No Kotak Mahindra Bank account required  Not restricted to a single brand or outlet - accepted at over 3 lakhs merchant establishments in India that accept Visa cards  Can be used at your convenience - no need to spend the entire value in a single purchase  Attractively packaged and ready-to-gift Available at all Kotak Mahindra Bank branches  Valid for two years from date of issue of card

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ANAL

IS AND FINDINGS

Survey conducted on 30 respondents

REASON FOR CHOOSING BANK

40

30
20 10

. It is very important to know that for which reason customer is choosing the bank.From the study conducted the factor which has come out strongest in this regards is thebrand name getting 33% of the response. Thus according to survey, brand name affects more in costumers thinking. Also the customers choose the bank for reasons like recommended by family or friends, advertisements, bank near office or residence or for any other reason.

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MOST FRE

ENT POINT OF INTERACTION WITH BANK

35
30 25

20 15 10
5 0

ATM

Visit Branch

Phone banking

Drop box

Internet 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 survey we can see 33% of total respondents feel that they interact most with the Bank with the help of ATM. The second most important point is internet banking with 27% of respondents and visiting the branch is also important as it get 25% of respondents.

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OVERALL SATISFACTION

50 45 40 35 30 5 0 5 0 5 0

Any service provider would want their customers to have a high overall satisfaction level. Kotak Mahindra bank has scored very well in this regard. The most important thing is that no respondent has complained that they are overall dissatisfied with the bank. This is a very important finding because this shows the effort Kotak Bank puts in providing their customers a superior service has not gone waste. About 45% of the total respondents say that they are very satisfied with their overall experience with the bank.

   

very satisfied

satisfied

somewhat satisfied

dissatisfied

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OPEN AN ACCOUNT IS DIFFICULT PROCESS OR NOT


! !
ope an accoun s d process or no

o al

no
Ser e s1

Ser es2
yes

Ser es3

c ul

20

40

60

80

100

120

Most of the people think that opening account is not at all a difficult process it is quite easy to understand. And in fact people think its an easy process in comparison withother privates bank. So because of this easiness they prefer to open an account here so that they can do it easily.

" " 

    
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DO YOU ALWAYS GET PROMPT SERVICE WHEN YOU VISIT THE BRANCH?

3
2 1

30

20
10 0

It is important to know that customers are getting better service at branch or not. About 50% of the respondents are agreeing that they get prompt service at branch. According to this Kotak Bank should have to give their more efforts in the service at the branch.

DO YOU AGREE THAT MINIMUM ACCOUNT LEVEL IS NOT HIGH ANDEASY TO MAINTAIN?

# % $& #
0

$ $
always often someiimes rarely never

42

40
5 0

25 20 15 10 5 0 Strongely agree agree somewhat agree Disagree

As minimum account level starts from Rs.10,000 in private banks, it is important to know that the customers are satisfied with it or not. Only 3% of the respondents are dissatisfied with this. So we can say that Kotak Bank gives satisfaction to the customers.

SATISFIED WITH FINANCIAL TRANSACTION OR NOT

' '

43

total

dissatsfied

somewhat satisfied

Series1 Series2

satisfied

very satisfied 0 20 40 60 80 100 120

The only thing customer expects from bank is security and if they dont think that they are secured they will never trust a bank and they would never want to start any relation with bank. But with kotak 50% an above are satisfied with its financial transaction.

MOST IMPORTANT QUALITY

60

50 40
30 20

10
0

bank staff

ATM

decor of bank

efficient services

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From the survey we can say that the efficient service offered by banks is considered most important by account holders, 60% of the respondents felt that the bank should concentrate more on this service aspects.The Account holders whether in Private/Foreign sector or the Government sector have been provided with ATM facility by their respective Banks.

45

PRIVATE BANKS PROVIDE SUPERIOR SERVICE COMPARED TO GOVERNMENT BANKS

Yes

20

40

60

80

100

The most important findings would come from the group of respondents who hold Saving Accounts with both Private and Government run Banks, as these people would be in the best position to judge the service offered by the Banks. According to this group of respondents the Range of Products that are offered by Private sector Banks are much more diverse than those offered by Government Banks. Overall the result of this question very clearly states that people consider the service level of Private Banks much higher than Government Banks as 83% of the respondents agree and only 17% of the respondents disagree.

(
Ser es1

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CONCLUSION 1.The Bank wants its customers to transact more through Internet Banking and ATM, Rather than customers using the bank. 2. Bank provide a very good facility of active money which can be really profitable to customers. 3. The Bank has tied up with other Banks so that its customers can use other Banks ATMfacility for free transactions 4. The Bank also provides DEMAT account and also sells Mutual Funds, this provides the Bankand Government additional revenue. 5.One of the best reasons of people choosing Kotak Mahindra Bank is the BrandName/Reputation of the Bank. Hence it should be careful that the Brand name and Goodwill the Bank has earned is not diluted. 6. They call many people from that almost 40% call them for personal meeting and from them 80% get ready to open account. 7.

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GENERAL FINDINGS

 ATM facility is very good and it is also used by customer widely.  To convenes new customers is really easy as reputation of bank is really good and people trust them.  The general perception is that Private Banks provides better services as compared to a Government bank and thus it is easy to attract customers.  Advertisements can be used to attract more customers and they do advertisement is different ways by providing gifts to targeted customers like doctors.

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Questionnaire

Name: ______________ Occupation: ________________ Age: _____________ Annual Income: ______________ Mobile number: _______________

1. what reason you keep in mind while choosing the bank? Recommended by family/friend Brand name Advertisement Branch near office/ residence Other reasons

2.Which are the most frequent point of interaction with bank? ATM Visit branch Phone banking Drop box Internet banking 3.How satisfied are you with the services provided by the bank? a) Very satisfied b) Satisfied c) Somewhat satisfied d) Dissatisfied

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4.Do you feel that the procedure to open an account with the bank was difficult? Yes No

5. Do you always get prompt service whenever you visit the branch? a) Always b) Often c) Sometimes d) Rarely e) Never

6. Do you agree that minimum account limit is not high and easy to maintain? a) Strongly agree b) Agree c) Somewhat agree d) Disagree e) Strongly disagree

7.Are you satisfied with your financial transactions with the bank? a) Very satisfied b) Satisfied c) Somewhat satisfied d) Dissatisfied

50

8.According to you which service provided by the bank is best? ___________________________

9. Would you like suggest any changes or improvement in any service or any feature of the bank?

10.Private banks provide superior service with compared to government banks? Yes No

51

BIILIOGRAPHY
There was immense need and flow of information while writing the reports which were gathered through various sources mentioned below.  internet www.kotak.com www.google.com www.wikipedia.com  other references Questionnaire, broachers and various other documents gathered and collected from bank.

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