A summer Internship Report

On
“TRACKING CUSTOMER BEHAVIOUR DURING COVID 19 OF SURAT NATIONAL
CO-OPERATIVE BANK LTD”

At

SURAT NATIONAL CO-OPERATIVE BANK LTD

By

AAYUSHI DUDHWALA
MBA (BANKING AND FINANCIAL SERVICES)

Batch- 2021-2023

Under the guidance of

Prof. Dr Vijeta Singh

Submitted to

In partial fulfillment of the requirement for the award of Degree of

Master in Business Administration
(MBA)

Submitted Through
MIT-WPU School of Management (PG), Pune.
 CERTIFICATE

This is to certify that Miss. Aayushi Dudhwala MIT-WPU School of Management (PG) has
successfully completed the project work titled “TRACKING CUSTOMER BEHAVIOUR
DURING COVID 19 OF SURAT NATIONAL CO-OPERATIVE BANK LTD” in
partial fulfillment of requirement for the award of MBA prescribed by the MIT World
University, Pune, from 10 May 2022 to 10 August 2022.

This project is the record of authentic work carried out by him / her out during the academic
year 2021 – 2023

Dr. Vijeta Singh Dr. Aparna Dixit Prof. Dr. Srinivas Subbarao

Internal Project Guide Head of School Dean – Director

School of Management School of Management Faculty of Management

( PG ) ( PG )
Certificate
 DECLARATION

I, Ms. Aayushi Dudhwala hereby declare that this project is the record of authentic work
carried out by me during the academic year 2021– 2023. This project is plagiarism free and
has not been submitted to any other University or Institute towards the award of any
degree.

Aayushi Dudhwala
 SR. Chapter Topic Pg.
No. No. No.
1. Executive summary
2. Ch. No:1 Introduction
1.1 Introduction to the bank 2

1.2 Types of banks 2-6

1.3 Introduction to SNCB bank 7

1.4 Service rendered by bank 8

1.5 Upcoming Facility 8

1.6 Vision and mission of the bank 8

1.7 Learning during my 3 months of internship 8-14

1.8 Tracking customer behavior during Covid-19 of 14-19

Bank

1.9 Covid-19 impacted Gujarat during the second wave 19-20

1.10 5 decisions taken by RBI to counter the 20-21

coronavirusimpact on the economy
1.11 Covid-19 Emergency Loan Scheme in SNCB Bank 22-23

1.12 Covid-19 Emergency Loan Scheme in SNCB Bank 23-24

(Working Capital loan)
3. Ch. No. 2 Review of literature 28-32

4. Ch. No.3 Research Methodology

3.1 Problem statement 34

3.2 Objective of study 34

3.3 Scope of study 34

3.4 Research design 34

 3.5 Source of study 35

3.6 Population of the study 35

3.7 Data sampling plans 35

3.7.1 Sample size 35

3.7.2 Sampling unit 35

3.7.3 Sample frame 35

3.7.4 Sampling design 35

3.8 Data collection tool 36

3.9 Statistical tools 36

5. Ch. No.4 Data analysis and interpretation 38-62

6. Ch. No.5 Finding/Suggestion/Observation/Limitation 64-65

7. Ch.No.6 Learning outcomes 67

8. Ch. No.7 Appendices and Bibliography 69-74

 List of Tables and Charts

SR. Name of table and chart Pg.no.

No.
1 Age 38

2 Gender 39

3 Income 40

4 Occupation 41

5 Qualification 42

6 Marital Status 43

7 Since how long are you associated with SNCB Bank 44

8 Respondent type of account in SNBCB bank 45

9 Have you avail of any loan facility during covid-19 46

from SNCB Bank

10 Which type of loan did you take during covid-19 from 47

SNCB Bank
11 What is the amount of EMI paid by you on your loan 48

12 Expectation of EMI scheme offered by the Bank during 49

covid-19

13 Have you taken benefit on interest on working capital 50

term loan during covid-19
14 Do you intend to access consumer loan in the near 51
future (during the covid-19 pandemic)?
 15 Do you intend to access loans for the purchase of a 52
home in the near future (during the covid-19
pandemic)?
16 Have you ever withdrawn your fixed deposits during 53
covid-19 before maturity
17 If yes, select the reason 54

18 Have you invested during covid-19 55

19 If yes than what was your preference 56

20. What is the main reason why you invest in Fixed 57

Deposits? (Select Any 2 option)
21 Do you think SNCB bank was giving the best interest 58
rate on deposits?

22 If yes for what period do you like to invest 59

23 Do you use an E-banking service during Covid-19 60

24 Are you satisfied with the service provided by SNCB Bank 61

during covid-19?

25 Would recommend this bank to your friend, or 62

relatives?
 EXECUTIVE SUMMARY

 The pandemic COVID-19 has severely affected the global economy. The strict lockdown
measures have also changed daily life, including consumer behaviour in nationalized
Cooperative banks. In this context, the purpose of this project is to Tracking Customer
Behaviour during COVID-19, with a special focus on the Surat National Co-Operative
Bank Ltd. To achieve our goal, we performed a survey among consumers of banks, using
the field survey based on the questionnaire as a research method.
 The final sample comprised 151 valid responses from the Ring road Branch of Surat
National Bank consumers. The research brings fresh insight into banking services
consumption during the pandemic and validates a conceptual model regarding the
acceptance of the internet and mobile banking services, withdrawal of deposits taking
loan etc.
 The research results highlighted, among others, that the variable concerning the
perception of the COVID-19 pandemic effect on consumers’ lifestyle has a direct and
positive influence on the attitude toward internet and mobile banking services, mediated
by other variables like the safety of the internet and mobile banking use and trust in
banks.
 Banks of Surat should increase their initiatives to offer financial education courses and
online tutorials to familiarize customers with the use of digital channels. Banks should
also improve communication with clients and design new products and services to
increase the attractiveness of the saving process. They should demonstrate flexibility in
negotiating to lend and refinancing conditions as well.
CHAPTER: 1
Introduction

1
1.1 Introduction to the bank:

anking is defined as “Accepting of deposits of money from the public for the

B purpose of Lending or Investment, repayable on demand or otherwise and

withdrawal by cheque, draft, or otherwise”

Banking can be defined as the business activity of accepting and safeguarding money owned
by other individuals and entities, and then lending out this money in order to earn a profit.
However, with the passage of time, the activities covered the by banking business have
widened and now various other services are also offered by banks. The banking services these
days include the issuance of debit and credit cards, providing safe custody of valuable items,
lockers, ATM services, and online transfer of funds across the country/world.

1.2. Types of bank

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There are 2 types of banks divided into 2:

Schedule • Central Banks

Banks • Co-operative Banks
• Commercial Banks
• Regional Rural Banks
Non- • Local Area Banks
Schedule
Banks • Specialized Banks
• Small Finance Banks
• Payment Banks

Schedule Banks

1. Central Banks:
 A chief bank that keeps a check on and synchronizes with all the other banks in a
particular country is known as the Central Bank of the country.
 In India, the post of the Central Bank is that of the ‘Reserve Bank of India’ (RBI).
 The RBI is also known as the ‘government’s bank’ or the ‘banker’s bank’.
 The RBI is responsible for regulating and guiding other banks in the country.
 It emanates from the currency of the country i.e. the Indian Rupee.
 The RBI overlooks the monetary system of the country by handling the finances.
 It is also responsible for foreign exchange.

2. Co-operative Banks:
 This bank operates under the state government’s actions.
 The main objective is to ensure the social well-being of the public.

3
 There are 3 formats.

Level 1
State cooperative banks
• Public distribution of money takes place. Concessional CRR, SLR charges also apply
upon these banks. (CRR- 3%, SLR- 25%).
The ownership belongs to the state government

Level 2
District-level cooperative banks
• These are set up to enhance development in the agricultural sectors of majorly the rural
areas. But they also run non – agricultural cooperatives with other unions, etc. Each
district has a district-level bank in India.
• These banks get loans at an interest rate of 1% to 2% lower than the standard bank rate

Level 3
Rural or village cooperative banks
• NABARD is responsible for keeping a check on these banks. Primary Agricultural
Credit Societies (PACs) exist on this level which works on grassroots levels.
This help provides short and middle term loans to their members and acts as a link
between the higher financial institutions of the country and their members.

Non-Schedule Banks
1. Commercial Banks:
 Such kinds of banks operate under the Banking Companies Act of 1956.
 These are often run by either the government or any private firm.
 The major aim of such banks is to earn maximum profit through their commercial
policies.
 The deposit amount by its users acts as a major resource of its reserve.

4
 There are 3 types included in this

Public sector banks

• shareholder is either the government or the central bank of the country.

Private sector banks

• shareholder is either an individual, some private organization, or a
selected group of individuals.

Foreign sector banks

 Such banks have their head offices and main operating systems in a foreign
country with their branches in India.

2. Regional Rural Banks:

 Operating under the Regional Rural Bank Act of 1976, these banks started in 1975.
 These banks aim at the development of rural and agricultural areas with the help of
concessional loan offerings.
 The ownership of these banks belongs 50% to the national government, 15% to the state
government, and 35% to the commercial bank.
 From 2005 onwards, the merging of these banks took place then by the government due
to which the number reduced to 86.

3. Local Area Banks:

 Operating under the Companies Act, 1956 these banks originated in the year 1996.
 These banks are there with the aim of earning profit.
 These are run by private firms.

5
4. Specialized Banks
 Banks that started for determined purposes are Specialized Banks.

 The ‘Export and Import’ (EXIM) Bank is a part of the specialized banks. Export and

import finances take place and loans occur via these banks.

5. Small Finance Banks:

 Regulated and controlled by the national government of the country.

 Responsible for offering finances and loans to minor businesses and trades such as
farming or the poor unorganized sector.

6. Payment Banks
 This latest introduction to the banking format design took place by the RBI.
 The maximum deposit accepted in these banks is Rs.100000.
 There is no facility for loans or credit cards available in such banks.
 For E.g.: Airtel Payment Banks, India Post Payment Banks, Jio Payments Banks, Paytm
Payments Banks etc.

6
 1.3 Introduction to Surat National Co-
operative Bank

 Bank started in 1972.

 Entered into the 50th Golden year of success
in 2021.
 Established on the principles of “Socialism”
(Samajwadi).
 Serving the Industrialist, Textile Traders,
small people, retail and wholesale traders, business
people, and SMEs.
 It has also achieved prizes from The Gujarat Urban Co-operative Banks Federation as the
zero N.P.A. Bank.
 This Bank has achieved many targets and got many prizes and awards from Surat Jilla
Sahkari Sangh and South Gujarat Co-op. Banks Association (SCOBA).
 Today this Bank is rendering services to the people of Suratregarding all kinds of banking
services.

Registered Head Office Karva Road, Nava pura, Surat-395001

Administrative Office Canopus mall, GhodDod RoadSurat
Schedule/Non-schedule Non-schedule
Licensed/unlicensed Licensed
Bank category General
Date of registration 15-5-1972
Date of license 19-11-1986
Total no. of regular members 14454 approx.
Total no. of nominal members 1758 approx.
No. of total staff 150 approx.
No. of branch 17

7
1.4 Service rendered by the bank:

GST Payment Loans UPI Facility

Mobile Banking ODCC Facility Locker Facility
Fix Deposits Rupay Debit Card Positive Pay
Recurring Deposits ACH Facility Bill Payment
Miss Call Banking Insurance 24*7
RTGS/NEFT/IMPS

1.5 upcoming Facilities

Bill Desk Facility SNCB ATM
Net Banking Cash Deposit Machine

1.6 Vision and Mission of the bank:

 The Surat National Co-operative Bank Ltd. Satisfies its customers, shareholders,
employees, and regulator through continually improving banking services, innovation in
products, technology up-gradation, knowledge of teamwork, and strengthening customer
relationships.
 Banking customers through faster service.
 Shareholder through regular dividend.
 Inter-branch connectivity.
 Technically qualified staff to resolve the problem.

1.7 Learning during 3 months of my internship

Routine counter: Taught me how routine counter works and what kind of work is done there.
So routine counter is divided into 4 parts.

 Cash withdrawal slip is made

 Cash deposit slip is made
 Passbook printing

8
 RTGS and NEFT is done
Beside this they also make vouchers like cash voucher, credit and debit voucher. In routine
counter inward, outward process, transfer process and clearing process is also done. They
also taught me how entry is done in their system.
Now they taught me about how to fill form when new customer comes. So total there are 3
types of accounts are there.

 Basic Saving Account

 Saving Account
 Current Account
So, in Basic saving account customers are not provided with cheques. In saving account and
current account bank provides cheque book, passbook etc even customer can also get debit
card while opening saving and current account. Beside this they taught me how to fill form
and what kind of document is necessary while filling this form.
For saving account: light bill, Aadhar card , PAN card copy and 2 photos same goes for basic
saving account.
For current account: 2 IT returns, PAN card Udhyog Aadhar this are all basic things which
are compulsory for any current account. Now here current account is divided into 6 parts and
all 6 things required different kind of documents.

 Proprietary Firm
 Company
 Partnership Firm
 Trust
 Unincorporated Association
 Juridical person such as societies, universities and local bodies like village panchayats.

Proprietary Partnership
Company:
Firm: Firm:
• registration • : MOA/AOA, • Registration
certification, certificate of certificate, PAN
GST certificate incorporation, of a
etc. PAN of a partnership
company etc. firm etc.

9
 Juridicial person such
Uncorporated
Trust: as socities,
Association
universities etc:
• : Resolution of the • person authorized
• Registration managing body of to act on behalf on
certificate, Trust such association, entity.
deed, etc PAN or form no. 60
of the trust etc.

CASH DEPARTMENT: it is divided into 4 parts:

 Receipts activity
 Payments activity
 Daily balancing of cash
 Scrutiny of cash
5 types of file is maintained in cash department:
 Inward cash
 Outward Cash
 Cash verification registration
 Key moment register
 Access cash return
Outward cash: here 60lakh limit is there if the amount exceed for that entry is to done.
Inward cash: at time of payment when cash is less from head office, cash department
receives cash.
Cash verification register: con-current auditor comes here monthly for verification of cash.
Key moment register: when cashier is not going to be absent key is given to checker officer.
Access cash return: if a person bring access cash by mistake that cash is return back to them
so they don’t make any chaos in coming future.
What is soiled note they also taught me, beside this they also taught me how whole process
works of cheque from routine counter through cash department.
Note con-current auditor monthly comes bank appoints them to check loan files and cash on
head of bank.

10
LOAN ADVANCES AND DEPOSITS DEPARTMENT: as the name only suggest this
department is divided into two parts loan and deposits. In my branch loan till 1 lakh amount
is given to the customer if the amount exceed then it goes to the Head department. In
particular loan department I come across what is the loan procedure, how loan is given to the
customer etc. they also taught me about CIBIL score what it is? If CIBIL score is 600 around
then it is average if it is 700 around it is better and if it is 800 then it is consider to be best
score.
Beside this they also taught me about what kind of documents is required in processing loan
like for machinery loan, property loan and for overdraft like 3 photography, PAN-card,
Aadhar card, electricity bill, IT returns of last 3 years, balance sheet, profit and loss account
etc
They also taught me how much interest they undertake while sanctioning loan to their
customer like for

Loan type Amount Interest

Housing loan 25lakh 8.25%

More than Rs 25lakh 8.50%

Property against Rs 1crore 11%

overdraft More than Rs 1 crore 10.25%

Old property Rs 1 crore 10%

against loan More than 1cr-5cr 9.75%
More than 5cr 9.50%
Machinery loan Rs 1cr 9%
More than 1cr-5cr 8.75%
More than 5cr 8.50%

Surat National Co-operative Bank ltd has many Fixed Deposit schemes:
1. TDFDH: Person who wants interest every 6 months that person use this scheme.

2. TDFDM: Person who wants interest every month use this scheme.

3. TDFDQ: Person who want to use interest every quarterly use this scheme.

4. TDFDY: Person who want to use interest every yearly use this scheme.

5. TDNDD: Principle amount get double in 8 year.

6. TDNPS: Principle amount and interest amount is given together on maturity.

7. TDNGD: in this every month you have to pay a particular amount an after a year you get
the maturity amount.

11
 As per RBI guideline if FD mature date gets missed which means interest rate will cut-off
from 7% it will be paid only 3%

 If the customer wants to break their FD before maturity date 1% interest gets cut off.

 Now we will look forward what is DICGC?

Deposit Insurance and Credit Guarantee Corporation (DICGC) is a specialised

division of Reserve Bank of India which is under the jurisdiction of Ministry of
Finance, Government of India. It was established on 15 July 1978 under the Deposit
Insurance and Credit Guarantee Corporation Act, 1961 for the purpose of providing insurance
of deposits and guaranteeing of credit facilities.

DICGC insures all bank deposits, such as saving, fixed, current, recurring deposit for up to
the limit of Rs. 500,000 of each depositor in a bank.The limit was increased from 1 lakh to 5
lakh by Modi government.

Now how it works in my bank:

DICGS pays money to customers’ up to RS 500,000 if any unexpected things happen in the
bank. If FD is of Rs 10 lac DICGC will pay only 5 lac other 5 lac will be paid by bank if it
has.

 Now we will see what is Bank Guarantee and Letter Of Credit

Bank Guarantee: The bank guarantee means that the lender will ensure that the liabilities
of a debtor will be met. In other words, if the debtor fails to settle a debt, the bank will cover
it. A bank guarantee enables the customer (or debtor) to acquire goods, buy equipment, or
draw down a loan.

Letter Of Credit: A letter of credit is essentially a financial contract between a bank, a

bank's customer and a beneficiary. Generally issued by an importer's bank, the letter of credit
guarantees the beneficiary will be paid once the conditions of the letter of credit have been
met.

12
Now we will look forward what is overdraft

An overdraft lets you borrow money through your current account by taking out more money
than you have in the account – in other words you go “overdrawn”. There's usually a charge
for this.

Cash Credit Facility: A Cash Credit (CC) is a short-term source of financing for a company.
In other words, a cash credit is a short-term loan extended to a company by a bank. It enables
a company to withdraw money from a bank account without keeping a credit balance. The
account is limited to only borrowing up to the borrowing limit

There are 4 types of Overdraft in my Bank:

1. Stock against loan

• it is same as Cash Credit Facility.

2. FD against Overdraft
• interest are on bases of approval

3. Machine against Overdraft

• it is given against LIC policy

4. Drop Line Overdraft

• 5 years of concept which is equal to 60 month.
every certain amount of money is cut off.

In my learning, I came to know 2 more government schemes which are as follows:

 PMSBY: Pradhan MantriSuraksha BimaYojna

 PMJJBY: Pradhan MantriJeevanJyotiBimaYojna

13
PMSBY: It is accidental insurance scheme

PMJJBY: It is unfortunate death scheme

1.8 Tracking customer behavior during Covid-19 of Bank

Covid-19 is certainly one of the biggest global events of our lifetimes, presenting
unparalleled challenges to many industries, governments, and people all over the world.
Financial services firms, in particular, have the opportunity to help consumers and businesses
weather the economic downturn and cross the current storm.

Banks in India have focused on maintaining critical staff at branches and have temporarily
reorganized staff to manage online or phone inquiries from customers. They have also
organized mobile ATMs and implemented doorstep banking for senior citizens and other
customers that need additional attention.

Several banks have made investments in technology and digital transformation over the past
couple of years. Many customers still rely on and are most comfortable in face-to-face
interactions, supported by paper processes. This will be serious as covid-19 is likely to have a
lengthy impact, and banking touches every portion of our economy.

14
There are four ways they can focus and can help to navigate the current situation.

1. Current Service and Advice: due to social distancing, an increasing number of consumers
are using online banking channels to manage their money. For this customer, preference
started to change to digital channels. It is important for banks to be accessible to their
customers, including the elderly or those not familiar with digital banking, providing
education on how to use these online services. As customers seek help and advice on
short-term cash management and re-planning their future, this could be live interactions
through video collaboration tools. This can protect the customer from cyber security and
fraud protection tools to protect customers.
2. Credit Management: Banks should proactively initiate credit self-control and
modification programs using a data-driven approach to understand which customers may
still not be able to make their next payments. So, banks should prepare for losses and
build capacity to deal with an increase in wrong loans. As customer demand picks ups,
gradually, post lockdowns, banks will need to repurpose their go-to-market and customer
acquisition model, keeping in mind changing consumer behavior post-covid-19, as well
as focus on digitally native journeys and re-look at underwriting norms for better risk
recovery.
3. Revenue Compression: revenue from retail and commercial banking is falling sharply, as
s consumption and transactions have seen an exponential dip. While central banks are
reducing yields to generate business, thus significantly reducing interest margins. Income
from payments and fee-based services are hit by a general decline in economic activity.
Bank’s cash flow also hit the moratorium periods also provided. Had expected an overall
drop of up to 10% in bank payment revenue s, which means a USD 150 billion top line

15
 decline for the industry. Bank has focused more on online payment safer by increasing
limits on contactless payments safer and by educating the consumer on digital wallets.

4. Operating Model Adjustments, Cost Elasticity, and innovation: over the next few months,
the banking sector will face a misalignment between short-term costs and revenues due to
the economic impact of covid-19. Banks should review and prioritize current projects to
allow allocation of resources to the most pressing of needs. Banks should focus on
investing in areas that will outlive the current pandemic, including projects and initiatives
that maintain customer experiences such as paperless utility, end-to-end digital advisory,
and lending capabilities, increased fraud, cybersecurity analysis, and detection, etc. there
new digital tools will make bank more efficient.

In the recent EY Future Consumer Index, they have done a survey on how the pandemic is
changing consumer behaviour toward banking.

COVID-19 has radically impacted consumer behaviour worldwide. Banks are questioning if
these changes will last once the end of the global lockdown and the pandemic dissipates.

Before the pandemic, consumer expectations were changing, and through digital and
technology transformation programs, banks were shifting the way they delivered products
and services to consumers.

To fully understand the impact of the pandemic on consumer sentiment and behaviour, they
created the EY Future Consumer Index to help business leaders see emerging trends and
understand which are temporary, and which will lead to more fundamental shifts.

Based on the responses and the Index results, we can see four ways consumer banking
behaviour is changing in response to COVID-19.

1. The way people bank has changed, but it might not (yet) be permanent

Forty-three percent of respondents say the way they bank has changed due to COVID-19.
This is perhaps unsurprising since lockdowns have limited the choice of physical channels,
with around two-thirds saying they are visiting physical stores less. Based on announcements

16
from more than 250 banks across 50 markets, since January, we saw closures or access
restrictions to branches as one of the first measures banks took as the cascade of countries
worldwide began lockdowns. However, banks should be cautious in seeing this substance on
a digital channel.

It seems you can’t assume customers won’t revert to their previous channel preferences. If
you want behaviours to stick, even in the current environment, it will be necessary to invest
in marketing, build awareness of the options open to customers, share the successful
experiences of new digital customers, as well as to support vulnerable customers or those that
still do not feel at ease using digital channels.

2. The end of cash has never been closer

The use, but COVID-19 has certainly hastened its decline. With many companies closing
their brick-and-mortar channels, consumers are going online to buy essentials. At the same
time, concerns have been raised about whether physical cash could spread the corona virus.
This has contributed to a 57% fall in cash usage among respondents, alongside a rise in
payments using credit cards (7% net), debit cards (10% net), and online payment tools (14%
net). Where people are still purchasing from physical stores, contactless appears to be the
preferred payment option (up 34% net). Furthermore, twenty percent of respondents expect to
be using less cash and more contactless payments over the next couple of years.

3. Responsible banking is more important than ever

For all banks, behaving ethically and doing the right thing will be important to consumers’
purchasing decisions. More than half of the respondents indicate that their future purchasing
decisions will be impacted by banks actively supporting the community, being transparent in
all they do, and ensuring they are doing well for society. Conversely, 44% say purchasing
decisions will be negatively impacted when they see banks focusing on maximizing profits
during this time.

Banks are on the front line, supporting their customers through the crisis, both in their role by
transmitting government stimulus measures, offering forbearance and emergency funding to
clients, and donating to relief efforts. Banks must remain acutely aware of the reputational
risk they face when customers feel they don’t get the support they need.

17
4. Customers will want greater flexibility and security

The current pandemic crisis is a great financial shock for many. Recovering from this crisis
will require relying on extended support and flexibility from banks to help customers get
back on their feet.

At the same time, while some people may see the crisis as anonce-in-a-lifetime risk – others
are likely to be more mindful of other ‘black swans’. Twenty-six percent of respondents
expect to invest more in being prepared for the future. Banks will have a role in helping
customers become better prepared, through savings, investments, insurance, and income
smoothing products. In fact, this crisis may accelerate the adoption of some subscription-
based models for financial services, with a quarter of individuals saying they would be
willing to pay a premium for products that promote well-being, the link between health and
wealth may emerge stronger than ever.

These four points suggest that those with a mantra of customer centricity and responsible
banking are likely to emerge as strong as ever

Now we will look at how the second wave of covid-19 has impacted bank deposits, and
currency holding with the public.
Bank deposits and currency holding with the public have been adversely impacted during the
second COVID wave, indicating a heavy outgo towards the pandemic-induced medical
expenditure, an RBI article said on Wednesday. Bank deposits -- having a share of around 55
percent in total assets of households -- decelerated by0.1 percent by end-April 2021 on an m-
o-m (month-on-month) basis as against a growth of 1.1 percent in April 2020.

The rate of decline in bank deposits vis-a-vis bank credit has also been higher, indicating that
this time around the banking sector component of household savings declined. This is in
sharp contrast with the spike in savings witnessed during the first wave, the article, published
in RBI's monthly bulletin, said.

"Currency holding with the public has also decelerated significantly to 1.7 percent during
April 2021 in comparison to the growth of 3.5 percent a year ago, implying heavy outgo
towards COVID-induced medical expenditure," it noted.

18
According to preliminary estimates by RBI, the household financial savings in Q3:2020-21
have come down to 8.2 percent of GDP from 21 percent and 10.4 percent in the previous two
quarters.
The savings of High Net worth Individuals (HNIs) and retail individuals in liquid funds
surged sharply in Q1:2020-21, mirroring the impact of uncertainty amidst COVID-induced
lockdown. Households also parked their funds in gold Exchange Traded Funds (ETFs).
"Since then, HNIs' investments in liquid funds have been negative (implying a drawdown),
but retail individuals continue to park their savings in liquid funds," the article said, adding
that HNIs and retail individuals' investments in gold ETFs have been positive since June
2020.
Further, it said that households' savings in liquid mutual funds and gold ETFs taken together
rose in Q1:2020-21, followed by drawdown’s in the next two quarters, before an upturn again
in Q4:2020-21.
The average one-year pre-tax return on liquid funds for the period ended April 2021 is higher
than the savings deposit rate as of June 4, 2021, it added.
Further, tax liabilities on returns earned by long-term holders of liquid funds (beyond three
years) turn out to be lower for individuals, particularly those in high-income slabs, in
comparison to holders of bank deposits.

1.9 Covid-19 impacted Gujarat during the second wave

The Gujarat government has allowed banks in the state to function with 50 percent staff till
April 30, and also reduced their working hours till that period in a bid to reduce the risk of
corona virus infection among the employees.

The government's Finance Department issued a circular on Tuesday night, a day after the
State Level Banking Committee (SLBC) urged the state government to take such steps,
saying that over 30 employees of banks have died due to the infection in the last one month.

Bank branches can either adopt the alternate work day method or work-from-home mode to
ensure that only 50 percent staff comes to the branches, the circular said.

The state government also curtailed the banking hours for customers by two hours.

The banking business for customers shall be undertaken from 10 am to 2 pm now, it said.

19
The circular added that the bank branches "shall provide only essential services, such as cash
deposit and withdrawal, to customers and preference shall be given to senior citizens".

It also asked the banks to ensure adequate cash in their ATMs and encourage customers to
use digital payment modes.

The announcement came a day after the Mahan Gujarat Bank Employees Association
(MGBEA), a prominent union of bank employees, wrote a letter to Chief Minister Vijay
Rupani, claiming that nearly 15,000 employees of banks have tested positive for corona virus
in Gujarat so far and over 30 of them died during the "second wave" in the last one month.

In view of the current situation, the union had put forward several demands, such as reduced
cash transaction hours, extra holidays, and relaxation in working hours.

In the letter, the MGBEA stated that around 50,000 bank employees are working in over
9,900 branches across Gujarat and they are afraid of entering the bank premises or interacting
with customers after learning the new strain of COVID-19 is airborne.

1.10 5 decisions taken by RBI to counter the coronavirusimpact on the

economy
The Reserve Bank of India asked all lending institutions to allow a three-month moratorium
on EMI payments in order to infuse liquidity into the system amid the novel corona virus
crisis. RBI governor Shaktikanta Das in a press conference said these are extraordinary
circumstances, and unprecedented measures are required to support the sagging economy as
all the economic activities have come to a hal1.

8. Repo Rate - RBI announced that it was cutting the Repo rate by 75 bps, or 0.75% to 4.4.
The repo rate was earlier at 5.15; the last being cut in October 2019. The current repo
rate is 4.90%.

9. Reverse Repo- The regulator also announced that it would cut the reverse repo rate by 90
bps, or 0.90%. On a daily average, banks had been parking Rs 3 lac crore with the RBI.
The current reverse repo rate is 3.35%.

20
10. Loan Moratorium - In a massive relief for the middle class, the RBI Governor also
announced that lenders could give a moratorium of 3 months on term loans, outstanding
as on 1 March 2020. This is applicable to all commercial banks including regional, rural,
small finance, co-op bank, all Indian financial institutions, and NBFCs including housing
finance and microfinance.

11. CRR (Cash Credit Ratio) - the RBI also announced that the cash reserve ratio would be
reduced by 100 bps, or1%, to 3%. This would be applicable from March 23 and would
inject Rs.13, 000crores.The current CRR is 4.50%.

12. LTRO (Long Term Repo Operations) -The RBI will also undertake long-term Repo
operations; allowing further liquidity with the banks. The banks however specified that
this liquidity will be deployed in commercial papers, investment grade corporate bonds,
and non -convertible debentures

21
From the above image, we can depict what is % of using online banking before and after
covid-19. Before covid-19 only 49% were using online banking but when the pandemic came
% started to increase. Before covid-19 bank interaction was more but after covid-19 it was
less we can see the difference from the above picture. So we can what the situation of
customer post and pre-covid-19.

1.11 Covid-19 Emergency Loan Scheme in SNCB Bank

A Circular detailing the loan policy of the scheme mentioned in the above subject is enclosed
herewith. Current loan holders of the bank can apply for this new loan. Obtain the following
papers/documents along with the above loan application. Their loan application file has to be
submitted to the Head office for further processing.

 Material stock/machinery/property currently being taken in the bank for the loan
application Taking loan application form under All the details mentioned in this loan
application has to be filled
 Photographs of the applicants/guarantors have to be attached in the application form and
identity card. (Xerox Photos will be accepted)
 Applicant's last 2 years of I.T. To take the return/balance sheet and take on record the
provisional balance sheet for the year 2019-20.
 Before sending the loan application, the administrative office shall inspect the unit and
submit its report in the file. Checking unit efficiency during the inspection. How many
artisans were working earlier and how many artisans are working now of January 2020 of
the firm Obtain light bill and copy of existing light bill, details thereof in inspection report
to show
 To obtain the purchase and sale figures of the firm from 01-04-2020 to 30-06-2020,
current stock statement, arrears due and arrears due on goods.
 As per Lender's additional working capital requirement/their OD. C.C. Limit: 106 to 20%
of their machinery loan/property loan balance i.e. total outstanding loan exposure. The
maximum loan amount available in this will be Rs.50.00 Lacs.
 While repaying the loan amount first of them their CC. The outstanding interest of the
account and the overdue amount of the loan accounts will have to be reimbursed and the
remaining amount will have to be given for their use.

22
 Considering the above details, the credit application of the lenders has to be submitted to
the Administrative Office for processing.

1.12 Covid-19 Emergency Loan Scheme in SNCB Bank (Working Capital loan)

Due to the current global COVID-19 corona epidemic, the government announced a 70-day
lockdown in the entire country. Due to this, the entire industry was closed in the country.
With the completion of lockdown from 01-06-2020, industries have started. As the borrowers
of the bank require more working capital for re-starting their business and they are making
demands for providing credit for the same, the Bank has, in the meeting of the Board of
Directors of the Bank dated 27-06-2020 Resolution No. 50, provided additional working
capital to its existing borrowers. A new policy has been created for sanctioning loans under
the Working Capital Term Loan COVID EMERGENCY LOAN Scheme for capital purposes

Loan Amount 10% to 20% of the limit of existing borrowers and

their Loan amount An additional amount payable as per
requirement or a maximum of Rs.50/- lac shall be
payable

Interest rate 10% PA

Period 36 months (with moratorium period of six months)

Credit Approval Loan application up to Rs.15.00 lacs from any of the

loan committee

Authority To be approved by the signature of two directors.

Authority will be done. Loan applications above
Rs.15.00 lac approved in the board
Security The security taken will be the principal security in the
existing cash credit/ machinery loans. To do Extension
Mortgage on the property which has been mortgaged

23
 Collateral Taking security of the collateral provided in existing
loans

Process Charge Take according to rule.

Document DP note, loan agreement, surety bond etc

Disbursement The loan amount will be disbursed according to the

efficiency of the unit of the firm.

Share linkage 2.5% of the loan amount

1.13 Aatmanirbhar Gujarat Sahyog Loan

During my recent talks with my customer, I came to know that customer was taking a loan
under the Atmanirbhar Gujarat Sahay Yojana scheme with a 2% interest rate, and rest 6%
will be paid by government. Now we will look after what is Atmanirbhar loan.

Atmanirbhar Gujarat Sahay Yojana– As everyone knows, the whole world is suffering from
a pandemic named COVID-19. In these tough times government of Gujarat has initiated a
step for the betterment of their people. A scheme called Atmanirbhar Gujarat Sahay
Yojana has been introduced by the state government on 14th May.

24
Key Feature of Atmanirbhar Sahay Plan Gujarat
1. Candidates who have applied for this scheme have to pay 2% of interest, and 6% of
interest will be paid by the government of Gujarat.
2. This yojana targets 10 lacs medium or small workers or businesses like retailer shop
keeper, grocery shop owner, etc.
3. Six months of a moratorium time period will be proffered to the recipients.
4. District banks/ Co-operative banks/ Credit Co-operative banks will provide the loan under
this scheme to needy people.
5. 5000 Crore rupees have been sanctioned for the Atmanirbhar Gujarat Sahay plan.

25
 Abstract of Atmanirbhar Gujarat Sahay Scheme

Name of the
Government of Gujarat
Government

Scheme Name Atmanirbhar Gujarat Sahay Yojana

Launch Date of
14th of May
Scheme

Skilled Workers/ Small Businessmen/ Barbers/

Recipients
Auto-rickshaw Owners/ Electricians

Benefits of this Yojana To provide loan at lower interest

1 lac rupees loan with 2% of interest per year

Amount of Loan with
Rate of Interest
Above 2 lac loan with 2.5% of interest per year

Mode of Application/
Offline
Registration

Start Date of
Application Form May
Submission

Final Date of
Submitting Application August
Form

Tenure of Loan 3 years

26
 Chapter: 2
Literature Review

27
1. Against the backdrop of the lockdown and social distancing imposed to diminish the
widespread of the virus, a direct consequence of COVID-19 is the increased use of online
services. The shift towards online shopping in China is underscored by Craven et al.
(2020), moreover, the authors consider that “Customers’ changing preferences are not
likely to go back to pre-outbreak norms”. Following this likely change in the customer
buying preference, the business model of banks will be strongly influenced, the channels
of distribution being one of the most impacted banking dimensions (Pop, 2020).

2. Hoe (2020) reports some trends in consumer behaviour determined by the measures to
limit physical contact and cash use during the pandemic crisis: there was an increase in
the registration of banking accounts with digital banks in South-East Asia; similar, the
opening of online banking accounts of small and medium-sized enterprises in Malaysia
intensified; the limit for the contactless payment was increased in the UK.

3. The emergent literature on the COVID-19 impact on banks includes the Buehler et al.
(2020) study. Regarding retail consumers, the authors underline that banks should
encourage the use of remote services by launching “positive and safety-oriented
messaging” to reduce the reliance on physical locations. From this perspective, banks
should take into consideration all consumer segments, among which the older part of the
population that is particularly exposed to COVID-19 and more reticent to embrace digital
services. In the context of a drop in branch visits, banks should simplify their online
interfaces and provide clients with educational materials on how to use the non-branch
channels (eMarketer, 2020). For example, webinars and customized teach-ins are among
the measures adopted by Singapore’s DBS bank following the corona virus outbreak to
train their customers to use digital channels (Finextra, 2020).

4. By analyzing the effect of the COVID-19 pandemic on the use of cash and payments, the
work of Auer, Cornelli, and Frost (2020) underlines that the shift toward digital payments
might have a negative impact on the older and unbanked consumer, which suggests that
cash have to be defended. The same work reviews the behaviour towards cash and the
measures taken by several governments and central banks: some countries, including
India and Indonesia, have encouraged the use of cashless payments; several central banks,
such as the Fed, central banks in China, South Korea, Hungary have sterilized and
quarantined banknotes; at the same time, other central banks (for example, the

28
 Bundesbank, the South African Reserve Bank) have promoted trust in cash,
communicating that the risk of corona virus transmission through banknotes is low.

5. According to the World Bank analysis of the COVID-19 financial sector support
measures, low-income countries have taken actions to promote the use of digital channels
in the payment sector, such as waiving charges, fees and simplifying digital identification
procedures (Mora, 2020). There is a change in the attitude of consumers in using internet
opportunities (Celic et al., 2018).

6. A major issue for bankers, consultants, strategists, academics and other stakeholders is to
conceive successful strategies for banks in order to better adapt to the new environment
marked by highly uncertainty. Nowadays organizations are facing a tremendous pace of
change within the marketing environment that calls for flexible approaches and marketing
strategies (Pop, 2020). To this respect, among their proposals, Vessey, Ott and
Dimidschstein (2020) point that financial institutions should develop those digital
capabilities that maintain a “human touch”, allowing them to better interact and support
their clients (for example, live chat or video calling). The importance of chat channels for
banks customers’ during social distancing imposed by Covid-19 is highlighted by
McCarty (2020) as well.

7. Melamedov (2020) underlines that adoption of digital solutions will have impact on long
term after the corona virus pandemic and the traditional banks are invited to learn from
the experience of digital financial institutions “neobanks” and fintechs. The exploration of
partnerships with fintechs could be a way for banks to introduce new products (World
Economic Forum, 2020).

8. Mergers within financial industry (bank mergers), but also outside financial services
industry, will likely be among the post-COVID strategy of retail banks; at the same time,
banks have to adapt their business models to the social changes related to the COVID-19
crisis (PwC, 2020).

29
9. Dr.AsifPerwej, 2020The COVID-19 pandemic could be one of the most serious
challenges faced by the financial services industry in nearly a century. The COVID-19
impact on banking will be severe fall in demand, lower incomes, and production
shutdowns and will adversely affect the business of banks. The situation is exacerbated by
staff shortages, inadequate digital maturity, and pressure on the existing infrastructure as
firms scramble to deal with the impact of COVID-19 on financial services. Banks
certainly have their hands full in light of the novel corona virus outbreak COVID-19.
Borrowers and businesses face job losses, slowed sales, and declining profits as the virus
continues to spread around the world. Banking customers are likely to start seeking
financial relief. An obvious way that pandemics can impact financial systems is through
their enormous economic costs. To managing the direct economic impact of the corona
virus, banks need to have a plan in place to protect employees and customers from its
spread. Many banks are already starting to encourage remote working of some
employees. In this paper, we are aimed to demonstrate an impact of pandemic covid-19
on the banking and financial sector. India’s corona virus outbreak threatens a years-long
clean-up of its financial system, according to the Indian bank. Banks sit at the heart of the
economy and provide funding to corporate and individuals. Their stability is crucial to
keep the system up and running.

10. Johanna PangeikoNautwima, Asa Romeo Asa 2022 The relationship between quality
service and customer satisfaction has gained remarkable recognition since the 1980s. To
date, researchers are still determined to find out how quality service in terms of
tangibility, reliability, responsiveness, assurance, and empathy, impact customer
satisfaction. This study provides a review of the literature on the influence of service
quality on customer satisfaction in the banking sector amidst the COVID-19 pandemic to
determine the existing research gap. Evidence from the literature review shows mixed
results where some of the dimensions of quality service positively influence customer
satisfaction while others impact it negatively. However, while evidence from the African
context reveals positive relationships between the variables, the phenomenon remains
inadequately researched, mainly in the Namibian context. Furthermore, empirical
evidence covered under this study has examined the matter from the quantitative
perspective, leaving no evidence from a qualitative standpoint. Thus, a call for further
investigation to delve deeper into the issue to constrict the gap. In so doing, the study
developed a conceptual framework that future studies can employ. The conceptual

30
 framework consolidates the moderation role of the COVID-19 pandemic to the
relationship between quality service and customer satisfaction based on the amendments
made to the services which come with variations in customer satisfaction.

11. Rani Veena, Rani Anupam, (2018). E-banking has the potential to transform the banking
as it offers many benefits which can never be obtained by traditional banking. E-banking
ensures conservation of valuable time which is involved in banking transactions. In spite
of improvement in efficiency and convenience due to ebanking, it may prove a double
edged sword as it has posed several challenges to regulators and supervisors. The quality
with which banks provide their services to their customers is utmost importance today. In
today’s world of competition every organization has to concentrate on its service quality
in order to stand in the market.

12. AsiyanbiaHaadiBabatunde and IsholabAjibolaAbdulrahamon, (2018). This inquiry has

demonstrated that the patronage of e-banking products is on the increase and bank clients
are satisfied with e-banking experience. The banking organisations were advised to
increase awareness about electronic banking system through sensitizing its customers,
particularly the non adopters, about the various gains associated with e-banking so as to
encourage its adoption. To further reduce the challenges associated with users interface,
graphical presentation and pictorials should be on display at bank’s branches. The
banking organizations should endeavour to minimize the costs.

13. Basias Nikolaos and ThemistocleousMarinos, (2013). E-banking offers customers wider
choice, convenience, control and cost savings. Customers have access to their financial
information and can conduct activity anytime and anywhere. They have better control of
managing account activity and household budgeting, organizing their financial records.
Cost savings comes from avoiding trips to the banks and reduced transaction cost.
Especially for elderly and ill people e-banking services improve their life by releasing
precious time, decreasing the bureaucracy and avoiding trips and time in lines. For
customers who live in the countryside or in small villages without bank branches,
efficient e-banking services might be necessary.

31
14. Ross Levine, Chen Lin, Mingzhu Tai, and WensiXie oct2020 Why did banks experience
massive deposit inflows during the first months of the pandemic? Using weekly branch-
level data on interest rates and county-level data on COVID-19 cases, we discover that
interest rates at bank branches in counties with higher COVID-19 infection rates fell by
more than rates at other branches—even branches of the same bank in different counties.
When differentiating weeks by the degree of stock market distress and counties by the
likely impact of COVID-19 cases on economic anxiety, the evidence suggests that the
deposit inflows were triggered by a surge in the supply of precautionary savings.

15. Ҫolak and Öztekin (2021) analyze the impact of COVID-19 on global bank lending using
a difference in difference approach and find that bank lending is smaller in countries with
severe epidemics.

16. Özlem.D.N and Schandlbauer (2021) take European banks as subjects and develop a
similar picture. This effect is more pronounced for fully capitalized banks. The main
reason for this result is the significant negative impact of COVID-19 on business
production and the daily activities of the public. At the same time, the increased economic
uncertainty makes banks more cautious in lending. Thus COVOID-19 affects the number
of bank branches from the asset side and changes the traditional business model of banks.
In summary, during the epidemic period, banks will slow down the establishment of bank
branches to prevent COVID-19, reduce risks, and improve efficiency. At the same time,
the government and the public take various necessary measures to protect against
COVID-19, such as: wearing masks and strict disinfection. Therefore, the impact of
COVID-19 on bank branches may gradually diminish over time.

32
 Chapter: 3
Research Methodology

33
2.1 Problem Statement

Before covid-19 both customer and the bank were working inan accurate manner means
customers were able to physically present in the bank and can solve their problems or matter
easily. But after covid-19 both banks and customer behaviour you’re got changed customers
were afraid of visiting banks as they thought they might catch the virus so their preference
changed easily from physical mode they started preferring online mode. Many customers had
to break their Fixed Deposits for their personal use. Income stability was due to which this
shows an effect on their saving account.

2.2 Objective Of Study

 Study how bank was operating/working during Covid-19.
 To study customer behaviour of shifting from traditional banking service towards digital
banking during Conid-19 pandemic.
 Customer feedback on product and service offered by Surat National Co-operative Bank
during this pandemic.
 To examine different types of service provided through their mobile banking during the
pandemic.

2.3 Scope Of Study

The study is more focused on the tracking customer behaviour during covid-19 of Ring Road
branch of Surat city and it will be helpful to analyse the better customer behaviour.

2.4 Research Design

Descriptive Research design is chosen for the research.

Descriptive Research design is defined as a research method that describes the characteristic
of the population or phenomenon that is being studied.

34
2.5 Source Of Data

Primary Data: this data has been generated with the help of questionnaires containing open
ended questions.

Secondary Data: this data has been generated with the help of internet and its multiple
websites, journals, research papers.

2.6 Population of the Study

All the customers of Surat National Co-operative Bank ltd of Ring Road branch of Surat city.

2.7 Data Sampling Plan:

2.7.1 Sample Size:

The study was taken around 151respondents.

2.7.2 Sampling Unit:

The respondent who asked to fill the questionnaire are the sampling units. These comprise all
the customers of Surat National Co-operative Bank ltd of Ring Road branch of Surat city.

2.7.3 Sample Frame:

Research is conducted in Surat National Co-operative Bank ltd of Ring Road branch of Surat
city.

2.7.4 Sampling Design

Convenient sampling method used as sampling design under Non-Probability method.

35
2.8 Data collection tools:

Initially, a rough draft has been prepared keeping in mind the objective of the research. A
pilot study has been undertaken in order to know the accuracy of the questionnaire. The final
questionnaire has been arrived at only after certain important changes are incorporated.
Convenience sampling technique has been used for collecting the data for tracking customer
behaviour during covid-19 of SNCB bank. The customers are selected by the convenience
sampling method. The selection of units from the population based on their easy availability
and accessibility to the researcher is known as convenience sampling. Convenience sampling
is at its best in surveys dealing with an exploratory purpose for generating ideas and
hypothesis

2.9 Statistical tool

Percentage method

2.10 Limitation of the Project

On the way of the study, I have faced the problems that are given below that may be termed
as the limitation or shortcoming of the study- .
 It was very difficult to collect the information from various personnel for the job
constrain.
 Bank policy was not disclosing some data and information for various reasons.
 The department people always remain busy due to lack of supporting employees so they
could not dedicate their full efforts
 Because of the limitation of information some assumption was made. So there may be
some personal mistake in this report.
 The time 3 months are not sufficient to know all activities of the branch to prepare the
report.

36
 Chapter: 4
Data Analysis
And
Interpretation

37
Demographic

1. Age

Table No.1
AGE Frequency Responses (%)
18-25 44 29.1
26-30 19 12.5
31-40 48 31.7
Above 40 40 26.4
Total 151 100

Chart No: 1

INTERPRETATION:

 According to the Age Group proportions, from the discoveries it can infer that most of the
customers are under the age gathering of 18-25 and spread up to 29.1% of the aggregate.
 12.6% of respondents have a place with age gathering of beneath 26-30.
 31.8% of respondent has a place with age gathering of 31-40 majority of customer belong
to this age group and
 26.5% respondent are above 51 years old. Due to covid-19 Spike rising case this age
group is less.

38
2. Gender

Table No.2
GENDER Frequency Responses (%)

Male 199 65.6

Female 52 34.4

Total 151 100

Chart No:2

INTERPRETATION:
 From the above analysis it can conclude that 65.6% of total responses are male and 34.4%
are female
 Here it can presume that greater part of respondents is male.

39
3. INCOME

Table No.3
Income Frequency Responses (%)
Less than 2 lac 51 31.8

2-3 lac 30 19.9

3-4 lac 40 26.5
Above 4 lac 30 19.9
Total 151 100

Chart No: 3

INTERPRETATION:
 Over here in the following research we infer that 19.9% group of respondents are earning
yearly income between 2lakh-4lakh to.
 Larger part of respondent’s income is less than 1lakh.
 26.5% of people’s yearly income is 3lakh-4lakh.

40
4. OCCUPATION

Table No.4

Occupation Frequency Responses (%)

Professional 30 19.9

Housewife 13 18.6
Salaried 55 36.4
Business 53 35.1
Total 151 100

Chart No: 4

INTERPRETATION:
 Larger part of respondent occupation is salaried follow by business which is
36.4% and 35.1%.
 Professional and housewife respondent are less which is 19.9% and 18.6%.

41
5. QUALIFICATION

Table No.5

Qualification Frequency Responses (%)

Under Graduate 22 14.6

Graduate 44 29.1

Post Graduate 22 14.6

Total 151 100

Chart No: 5

INTERPRETATION:
 Here it can infer that 14.6% of respondents are under graduate.
 29.1% are graduated or pursuing graduation.
 Maximum of respondents that is 41.6% pursuing post-graduation or concentrated till post-
graduation.
 Only 14.6% did Post Graduation.

42
6. MARITAL STATUS

Table No.6
MARITAL Frequency Responses (%)
STATUS

Married 93 61.6

Un-married 58 38.4

Total 151 100

Chart No: 6

INTERPRETATION:
 From the above analysis it can conclude that 61.6% of total responses are married
 Only 38.4% are unmarried.

43
7. Since how long are you associated with SNCB Bank?

Table No.7
Particulars Frequency Responses (%)

Less than 1 years 34 23

Between 1 to 3 years 48 32.4

Between 3 to 5 years 31 20.9

More than 5 years 35 23.6

Total 151 100

Chart NO: 7

INTERPRETATION:
 From above chart we can interpret that 32.4% response are between 1 to 3
years followed by 23.6% responses are longer associate with bank which is
more than 5.
 Less than 1 year responses are 23%.
 Between 3 to 5 years response are 20.9%.

44
8. Respondent type of account in SNBCB bank?

Table No.8
Particular Frequency Responses (%)

Saving Account 109 72.2

Current Account 54 35.8

Total 151 100

Chart No: 8

INTERPRETATION:
 Some customer has both kind of account.
 Saving account responses are which 72.2% is.
 Current account responses are 35.8%.

45
9. Have you avail of any loan facility during covid-19 from SNCB Bank?

Table No.9
Particular Frequency Responses (%)

Yes 107 73.3

No 39 26.7

Total 146 100

Chart No: 9

INTERPRETATION:
 73.3% respondent has avail loan during covid-19.
 Followed by 26.7% has not avail any loan facility during covid-19.

46
10. Which type of loan did you take during covid-19 from SNCB Bank?

Table No.10
Particulars Frequency Responses (%)

Aatmanirbhar 49 36.3
Loan
Personal Loan 64 47.4
Education Loan 35 35
Solar Loan 18 18
Loan against FD 22 22
Total 135 100

Chart No: 10

INTERPRETATION:

 Personal loan followed by Aatmanirbhar Gujarat Sahayog loan was taken during more
during covid-19 with responses 47.4% and 36.3%.
 Education loan was also taken more by customers with 35%.
 Due to low balance some customer has taken loan against FD which is 22%
 And solar loan at 18%.

47
11. What is the amount of EMI paid by you on your loan?

Table No.11
Particular Frequency Responses (%)

Below 10000 79 52.3

10000-20000 58 38.4

20000-30000 7 4.6

Above 30000 7 4.6

Total 151 100

Chart No: 11

INTERPRETATION:
 EMI paid during covid-19 is less due to so below 10000 responses were 52.3% followed
by 38.4% paid EMI between10k to 20k only.
 Only few respondents pay more EMI which is 4.6%.

48
12. Expectation of EMI scheme offered by the Bank during covid-19

Table No.12
Particular Frequency Responses (%)

Very low Expectation 20 13.2

Low Expectation 34 22.5

High Expectation 70 46.4

Very High 27 17.9

Expectation
Total 151 100

Chart No: 12

INTERPRETATION:
 EMI offered by this bank has highly satisfied its respondent which is 46.4%.
 Very low expectation respondent are less which is 13.2%.

49
13. Have you taken benefit on interest on working capital term loan
during covid-19?

Table No.13
Particular Frequency Responses (%)

Yes 79 54.5

No 66 45.5

Total 145 100

Chart No: 13

INTERPRETATION
 Benefit on interest on working capital term loan during covid-19 responses was 54.5%
 45.5% have not taken any benefit during covid-19.

50
14. Do you intend to access consumer loan in the near future (during the
covid-19 pandemic)?

Table No.14
Particular Frequency Responses (%)

Yes 78 54.9

No 64 45.1

total 142 100

Chart No: 14

INTERPRETATION:
 54.9% intended to look consumer loan in near future.
 45.1% do not want to take consumer loan.

51
15. Do you intend to access loans for the purchase of a home in the near
future (during the covid-19 pandemic)?

Table No.15
Particular Frequency Responses (%)

Yes 43 29.9

No 101 70.1

Total 144 100

Chart No: 15

INTERPRETATION:
 70.1% are not interested in taking home lean in near future.
 29.9% are interested in taking home loan.

52
16. Have you ever withdrawn your fixed deposits during covid-19 before
maturity?

Table No.16
Particular Frequency Responses (%)

Yes 51 58.2

No 48 41.8

Total 146 100

Chart No: 16

INTERPRETATION:
 More FD were withdrawn during covid-19 with responses of 58.2%
 41.8% did not withdraw their FD.

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17.If yes, select the reason?

Table No. 17
Particular Frequency Responses (%)
Medical Purpose 58 55.2
Property Investment 45 42.9
Low Bank Balance 32 30.5

Other Investment 34 32.4

Total 105 100

Chart No: 17

INTERPRETATION:
 So reason behind withdrawing FD was 55.2% respondent use if medical purpose
followed up property investment was 42.9%.
 Some respondent has withdrawn money due to low bank balance 30.5%.
 Some has withdrawn their FD due to other investment and respondent are 32.4%.

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18. Have you invested during covid-19?

Table No.18
Particular Frequency Responses (%)

Yes 108 71.5

No 43 28.5

Total 151 100

Chart No: 18

INTERPRETATION:
 Only 71.5% has invested during covid-19
 28.5% has not invested during covid-19.

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19. If yes than what was your preference?

Table No.19
Particular Frequency Responses (%)
Equity Market 72 53.7
Government 38 28.4
Security
Fixed Deposits 61 45.5
Mutual Funds 61 45.5
Insurance 38 28.4
Gold and Silver 29 21.6
Real Estate 20 14.9
Total 134 100

Chart No: 19

INTERPRETATION:
 53.3% of respondents invested in the equity market followed by FD and mutual fund
which has 45.5%.
 Only 28.4% has invested in Government security and insurance.
 Only 14.9% has invested real invest.

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20. What is the main reason why you invest in Fixed Deposits? (Select
Any 2 option)

Table No.20
Particulars Frequency Respondent (%)
Future Contingencies 90 59.6
Child Education 68 45
Fulfil dreams 62 41.1
Idle money 42 27.8
Others 33 21.9
Total 151 100

Chart No: 20

INTERPRETATION:
 59.6% main reason to invest in FD was future contingencies.
 41.1% believe in fulfilling dreams by investing FD’s. Followed by child education at 45%
responses.
 Other had invested due to idle money with responses at 27.8% and some respondents
invested due to some other reasons at 21.9%.

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21. Do you think SNCB bank was giving the best interest rate on deposits?

Table No.21
Particular Frequency Responses (%)

Yes 131 89.1

No 16 10.9

Total 147 100

Chart No: 21

INTERPRETATION:
 According to 131 respondent thinks that SNCB bank gives the best interest rate on Fixed
Deposits with responses of 89.1%
 16 respondents think it does not give the best interest rate with 10.9% responses.

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22. If yes for what period do you like to invest

Table No.22
Particular Frequency Responses (%)

Less than 6 month 42 27.8

6 month to 1 year 51 33.8

1 year to 3 year 37 24.5

3 year to 5 year 21 13.9

Total 151 100

Chart No: 22

INTERPRETATION:
 51 respondents invested between the periods of 6 months to 1 year with responses around
33.8%.
 42 respondents likes to invest only for less than 6 months with 27.8%.
 24.5 And 13.9 responses believe in investing for a longer period.

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23. Do you use an E-banking service during Covid-19?

Table No.23
Particular Frequency Responses (%)

Yes 95 62.9

No 56 37.1

Total 151 100

Chart No: 23

INTERPRETATION:
 Majority of respondents used E-Banking during covid-19 with 62.9% of
responses.
 37.1% responses do not use the service.

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24.Are you satisfied with the service provided by SNCB Bank during
covid-19?

Table No.24
Particular Frequency Responses (%)

Yes 135 89.4

No 16 10.6

Total 151 100

Chart No: 24

INTERPRETATION:
 135 respondents are satisfied with the service provided by SNCB bank.
 Only 16 respondents are not satisfied with the service.

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25. Would recommend this bank to your friend, or relatives?

Table No.25
Particular Frequency Responses (%)

Yes 140 92.7

No 11 7.3

Total 151 100

Chart No: 25

INTERPRETATION:
 140 respondents believe that will recommend this bank to their friends and relatives
 11 respondents do not believe in that.

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 Chapter: 5
Finding/Suggestions/Observation/
Limitation

63
5.1 FINDING:
 According to my finding customers have taken Aatmanirbhar Gujarat Sahyog loan
because of its low-interest rate.
 Bank growth rate during covid-19 did not deteriorate completely. It was stable.
 Instead of withdrawing FDs they have taken a loan against FDs.
 Because of the good facilities and service provided by the bank many customers are
associated with the bank for more than 5 years.
 During covid-19 bank operating time was less which was only 10 to 2 pm.
 On saving accounts bank gives 3.50% interest.
 The income sources of the majority of individuals are not that stable so they can invest
more in other investment options. The majority of customers’ income is between 3-4 lacs.
More than 4 lac groups of customers are less.
 Majority of respondents have not withdrawn their investment and some who withdrawn
their investment to meet basic needs for survival due to the arrival of a medical
emergency in a pandemic.
 Instead of visiting bank physically majority of customer has used e-banking service due
to covid-19.
 Customer have taken more loans because of low interest rate as compared to private
sector banks.
 Senior citizens were motivated to keep more deposits as compared to high interest rates
provided by the bank.
 After lockdown the customers has taken machinery loan from bank because low interest
rate provided by the bank.
 Loan taking process was much easier than any other bank.
 But the interesting part is, in spite of pandemic, respondents have given returns the
highest weightage followed by returns. This indicates the psychological aspect of
customers wherein they want returns with incurring risk

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5.2 Suggestion
 First of all bank should expand its ATM machines, passbook printing machines, and cash
deposits machine.
 The money obtained by the bank in the form of interest on the loan given to the customers
should be used properly for maximum returns and economic growth and development for
future aspects.
 Bank should be capitalized on how to expand its business to avoid merging with another
bank in upcoming years.
 Most of the nationalized banks face problems likes server issues so because of that
customers face difficulties accessing their bank account. Especially for senior citizens
who are not using E-banking.
 At present there are branches but to provide more banking facility in other developing
areas of Surat, bank should expand its branches.

5.3 Limitation
 Due to the covid-19 customer could not physically go to the branch all payments were to be done
online only.
 Because of covid-19customers’ bank balances were low so they were taking loans.
 Senior citizens were facing problems because they do not how to use online banking.
 As the corona virus is believed to stay on surfaces for days in its fully active state, Surat
National Co-operative Bank is urging its customers to avoid currency note transactions
and switch to contactless payment methods.
 For a certain limit of transactions customers can visit the bank.
 Customers’ bank balances were disturbed due to covid-19 as they have to withdraw their
deposits.
 Customers were not able to invest properly.

65
 Chapter: 6

Learning Outcomes

66
6.1 Learning outcomes
 Learned about banks’ different Fixed Deposits schemes as well as their monthly recurring
schemes.
 Management of soiled notes,
 ATM card, CTS machine for cheques, online payment form, and also got to know about
working in the cash department.
 How someone can make their own QR code through UPI ID.
 Learn about their card
 Good understanding of workplace culture
 Punctuality
 Had a great workplace experience.

67
 Chapter: 7

Appendices and Bibliography

68
7.1Bibliography

 Johanna PangeikoNautwima, Asa Romeo AsaThe Impact of Quality Service on Customer

Satisfaction in the Banking Sector Amidst COVID-19 Pandemic: A Literature Review for
the State of Current Knowledge.
 Johanna PangeikoNautwima, Asa Romeo AsaThe Impact of Quality Service on Customer
Satisfaction in the Banking Sector Amidst COVID-19 Pandemic: A Literature Review for
the State of Current Knowledge.
 Mujinga, M. (2020). Online banking service quality: A South African E-S-QUAL
analysis. International Journal of Business, Management, and Innovation, 8(1), 228-238.
CrossRef.
 Rani Veena& Rani Anupam. (2018). Current practices of e-banking technology: Study of
service quality in Tricity (Chandigarh, Mohali &Panchkula). Journal of Commerce &
Accounting Research, 7(2), 56-76.
 AsiyanbiaHaadiBabatunde&IsholabAjibolaAbdulrahamon. (2018). E-banking services
impact and customer satisfaction in selected bank branches in Ibadan metropolis, Oyo
state, Nigeria. Journal of Accounting, 153- 160.
 Basias Nikolaos &ThemistocleousMarinos. (2013). SOA adoption in e-banking. Journal
of Enterprise Information Management, 26(6), 719-739.
 Bradley, L. & Stewart, K. (2002). A Delphi study of the drivers and inhibitors of internet
banking. International Journal of Bank Marketing, 20(6), 250-260.
 Siddik, M. M. (2012). A study on e-banking services in India- with reference to ATM
services. Journal of Exclusive Management Science, 1(2), 23.
[6] Mohan, K. (2006). Information technology of Indian banking. The SCMS Journal of
Indian Management, July Sept Issue, 18-24.
 Malhotra, P. & Singh, B. (2007). Determinants of internet banking adoption by banks in
India. Journal of Internet Research, 17
 Lukie A. (2015). Benefits and security threats in Electronic banking. International
Journal of Managerial Studies and Research (IJMSR) Vol 3, PP 44-47. Retrieved from
 Singh, BK &Jha, AK, 2009, ‘An empirical study on awareness & acceptability of mutual
fund’, In Regional Students Conference, ICWAI (pp. 49-55)

69
 Sudalaimuthu, S & Kumar, PS, 2008, ‘A Study on Investors’ Perceptions towards Mutual
Fund Investments’, Management Trends, 5(1). Zick, CD, Mayer, RN & Kara, G, 2012,
‘The kids are all right: Generational differences in responses to the great recession’,
Journal of Financial Counseling and Planning, 23(1).
 SyamaSundar, PV, 1998, ‘Growth prospects of mutual funds and investor perception with
special reference to Kothari Pioneer Mutual Fund’, Project Report, Sri Srinivas
VidyaParishad, Andhra University, Visakhapatnam.
 Tomar, A & Gupta, N, 2020, ‘Prediction for the spread of COVID-19 in India and
effectiveness of preventive measures’, Science of The Total Environment, 138762. DOI:
 Tuysuz, S, 2013, ‘Conditional correlations between stock index, investment grade yield,
high yield and commodities (gold and oil) during stable and crisis periods’, International
Journal of Economics and Finance, 5(9), 28.
 Yarovaya, L & Lau, MCK, 2016, ‘Stock market comovements around the Global
Financial Crisis: Evidence from the UK, BRICS and MIST markets’, Research in
International Business and Finance, 37, 605-619.
 www.rbi.org
 www.google.com

70
7.2 APPENDICES

QUESTIONNIARE

I Aayushi Dudhwala, student of MIT WPC University college of management pursuing MBA
conducting a survey on ''Tracking Customer Behaviour during Covid-19 of Surat National
Co-operative Bank ltd '' as a part of comprehensive project.

I hereby request you to provide the answers in form with honesty and transparency in order
to help me in finding accurate conclusions. I assure you that such data will be used only for
academic purposes only.

 Name
 Email
 Contact number

 Age
 18-25
 26-30
 31-40
 Above40

 Gender
 Male
 Female

 Income
 Less than 2lac
 2lac-3lac
 3lac-4lac
 Above 4 lac

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 Occupation
 Professional
 Housewife
 Salaried
 Business

 Qualification
 Under Graduate
 Graduate
 Post-Graduate

 Marital Status
 Married
 Unmarried

Since how long are you associated with SNCB Bank?

a. less than 1 year
b. between 1 to 3 years
c. between 3 to 5 years
d. more than 5 years

1. Respondent type of account in SNCB bank?

A. .Saving Account
B. Current Account

2. Have you avail any loan facility during covid-19 from SNCB Bank?
a. Yes
b. No

3. Which type of loan you taken during covid-19 from SNCB Bank?
a. Atmanirbhar loan
b. Personal loan
c. Education loan
d. Solar loan
e. Loan against Fix Deposit

4. What is the amount of EMI paid by you on your loan?

a. Below 10000
b. 10000-20000
c. 20000-30000
d. Above 30000

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5. Expectation of EMI scheme offered by the Bank during covid-19
a. Very low expectation
b. Low expectation
c. High expectation
d. Very high expectation

6. Have you taken benefit on interest on working capital term loan during covid-19?
a. Yes
b. No

7. Do you intend to access consumer loan in the near future (during the covid-19
pandemic)?
a. Yes
b. No

8. Do you intend to access loans for the purchase of a home in the near future (during the
covid-19 pandemic)?
a. Yes
b. No

9. Have you ever withdrawn your fixed deposits during covid-19 before maturity?
a. Yes
b. No

10. If yes, select the reason?

a. Medical Purpose
b. Property investment
c. Low bank balance
d. For other investment purpose

11. Have you invested during covid-19?

a. Yes
b. No

12. If yes than what was your preference?

a. Equity market
b. Government security
c. Fixed deposits
d. Mutual funds
e. Insurance
f. Gold and silver
g. Real estate

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13. What is the main reason why you invest in Fixed Deposits?
a. Future contingencies
b. Child education
c. Fulfil dreams
d. Idle money
e. Others

14. Do you think SNCB bank was giving best interest rate on deposits?
a. Yes
b. No

15. If yes for what period do you like to invest?

a. Less than 6 month
b. 6 month to 1 year
c. 1 year to 3 year
d. 3 year to 5 year

16. Do you use E-banking service during Covid-19?

a. Yes
b. No

17. Are you satisfied with service provided by SNCB Bank during covid-19
a. Yes
b. No

18. Would recommend this bank to your friend, relatives?

a. Yes
b. No

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