Banks In India

A study on customer satisfaction with reference to ATM facility In Indian bank in Vellore. Major project Done by Amit kumar srivastava Register no. 05MBA005

BANKS IN INDIA India has a well developed banking system. Most of the banks is India were founded by Indian entrepreneurs and visionaries in the pre-independence era to provide financial assistance to traders, agriculturists and budding Indian industrialists. The origin of bank in India can be traced back to the last decades to the 18th century . The General bank of India and the Bank of Hindustan, which started in 1786 were the first bank in India . Both the banks are now defunct . The oldest bank in existence in India at the moment is the state bank of India. The state bank of India came into existence in 1806. At that time it was known as the bank of Calcutta . SBI is presently the largest commercial bank in country . The Role of central banking in India is looked by reserve bank of India , which in 1935 formally took over these responsibilities from the then Imperial bank of India. Reserve bank was nationalized in 1947 and was given broaders powers. In 1969, 14 largest commercial banks were nationalized followed by six next largest in 1980. But with adoption of economic liberization in 1991, private bank was again allowed . The commercial banking structure in India consists of scheduled commercial banks and unscheduled banks. Scheduled commercial banks constitute those banks , which have been included in the second scheduled of RBI Act 1934. RBI includes only those banks in this schedule , which satisfy the criteria laid down vide section 42 (6) (a ) of the act. Indian banks can be broadly classified into public sector banks ( Those banks in which the government of India holds a stake ) private banks ( Government do not have have a stake in these banks , they may be publicly listed on stock exchange and foreign banks . # Bank fixed deposits. # Current account. # Demat account. # Recurring bank deposit . # Reserve bank of India. # Savings bank account . # Senior citizen saving scheme 2004. # Foreign banks in India. # Nationalized banks.

# Private banks in India.

ABOUT INDIAN BANK : Indian Bank was established on August 15, 1907 as part of the Swadeshi movement. In 1969, the Bank was nationalized along with 13 other banks. Today, Indian Bank has a network of 1385 branches spread all overIndia. Indian Bank has an impressive international presence. The Bank has overseas branches in Singapore and Colombo including a Foreign Currency Banking Unit at Colombo. Indian Bank has 229 overseas correspondent banks in 69 countries.Indian Bank is engaged in 1. diversified banking activities and has 3 subsidiary companies to look after them. These are: Indbank Merchant Banking Services Ltd, IndBank Housing Ltd., IndFund Management Ltd. Indian Bank is a front runner in specialised banking. The bank has 88 forex authorised branches inclusive of 3 Specialised Overseas branches at Chennai , Bangalore and Mumbai exclusively for handling forex transactions arising out of Export, Import, Remittances and Non Resident Indian business. The bank also has 5 specialised NRI branches exclusively for servicing Non-Resident Indians and one small scale Industries Branch extending finance exclusively to SSI units. Indian Bank is a pioneer in rural development. It has launched several innovative loan products like Artisan Card, Kisan Card.

TRAINING PAR EXCELLENCE ( IMAGE ) : Image which is the acronym for Indian bank management academy for growth and excellence is the prestigious training academy of IndianBank. The academy stands at a quiet and peaceful locality of MRC Nagar with modern amenitites like airconditions classroom,seminar halls ,in door recreational facilities and a state – of – the art auditorium needs of Indian bank. Its subsidiaries and other members of the banking fraternity. The academy also undertakes training of middle and senior management Personnel of government, public sector and corporate componies. The infrastructure facilities are also available on payment of stipulated fees To select group of corporate companies and other bodies.

INDIAN BANK AGRICULTURE PRODUCTS : Crop loans and its derivatives # Indian bank Kisan card and kisan credit card plus. # Golden harvest scheme.

# Sugar premium.

Tractor Finance # Financing agriculturists for purchase of tractors. # Purchase of second hand Tractors by agriculturists. # Loans for maintainence of tractors under tie up with sugar mills.

2. JEWEL LOANS

Structured loans # Indian bank kisan bike scheme. # Indian bank agri vendor bike scheme. # Agriculture produce marketing loan. # Kamdhenu milk vendor scheme. # Joint liability groups. # Agriculture godowns / cold storages. # Financing agriclinics and agri business center. # Land purchase scheme.

Micro finance # SHG – bank direct linkage. # Vidhya shobha SHG education loan. # Grih Lakshmi – SHG housing loan. # Gramin Mahila Sowbhagya scheme.

Micro insurance # Janashree bima yojana. # Universal health care. # Contract Farming. # Finacial inclusion. # Agricultural consultancy and Technical services ( ACTS ).

INDIAN BANK SWARN MUDRA SCHEME : Indian bank known for its customer centric banking , has launched in March 2006, another unique offering , the IB Swarn mudra a scheme for selling gold coins .There are

currently seven products variants viz 2 gm, 4gm, 5gm, 8gm, 10gm, 20gm,and 50 gm gold coin/ bars. IB Swarn Mudra has the following features: # 24 carat , 999.99 pure gold # Imported from refinery in Switzerland , One of the most reputed gold refinery world wide. #Coins/ Bars are packed in a temper – proof see through packet. #Accompanied with an international quality certification ( Assay certificate ). Gold a symbol of purity , beauty and prosperity has taken a new dimension , Indian bank In continuous of its previous line of gold coins / Bars 5gm and 10gm( oval in shape ) and 3. 4gm and 8 gm ( round in shape ) special Diwali “ Goddess Lakshmi “ gold coins without And additional charge. Hence purchase gold coins of the festival ,Gift it your loved ones and also have it as an asset for your future needs. IB Swarn Mudra can also be purchased for an investement and saving for the future # A gift for special occasions like marriages, Bithdays etc. # A corporate gift or an incentive for employees etc.

INDIAN BANK LAUNCHES KESDEE”S E- LEARNING COURSE FOR EMPLOYEES :

Indian Bank in its Centenary Year has launched an e-learning programme for the benefit of its employees. Launching the programme here at function held by the Bank today, Mr. M. S. Sundara Rajan, Chairman and Managing Director, Indian Bank said that the Bank is proud to be a “Knowledge Empowering Institution” and that the programme aims at enhancing the capabilities of the employees of the Bank, on a continuous basis. “Banking Industry” is witnessing a sea change. To keep pace, each and every banking personnel needs regular knowledge updating. E-initiative of this nature will help the individual and organization to a great extent, he added. The programme would help the employees gain expertise in their area of operations as well as other areas of their interest, resulting in better and more efficient customer service, he said. The innovative e-learning initiative has been introduced with the assistance of KESDEE, a US based firm with rich experience in providing e-learning solutions. Through this e-learning package, Indian Bank is hosting KESDEE’s 41 user-friendly course libraries covering Risk Management, Asset and Liability Management, Anti-Money Laundering, Areas in Treasury, Foreign Exchange, Credit and an exclusive “Branch

Management” module. Each library is modular in structure and had many courses for convenient reading and assessments. The e-learning will provide an additional avenue to staff for upgradation of skills, supplemental to the existing training system of the Bank. KESDEE’s e-learning courses include several “ Learn By Doing”, Simulations and actual case studies. The Bank has already introduced many need based training programmes for the employees and also has been providing incentives to employees for passing courses like CISA, CISSP, KYC, AML, NSDL and ORACLE. KESDEE’s e-learning courses are deployed on Indian Bank’s intranet server and customized with the Bank’s logo and look & feel. 4.

Indian Bank is one of the premier Public Sector Banks with over 1469 branches all over India, Overseas branches in Singapore and Colombo and over 240 overseas correspondent banks in 70 countries. Apart from providing the deposit and credit functions Indian Bank has diversified banking facilities and has been a front runner in specialized banking with 90 Forex Authorized branches, 1 specialized NRI Branch and 1 SSI Branch. It has attained leadership in rural development and is a pioneer in introducing the latest technology in Banking.

WEALTH MANAGEMENT SERVICES : We, at Indian Bank endeavor continuously to serve all your financial needs.We We understand that presently you may be taking all investment decisions by yourself, using your own knowledge and expertise. Considering the multiplicity and complexity of investment options now available in the market, collecting and analyzing such information may involve considerable time and efforts on your part. In an attempt to assist you in taking right decisions in financial matters, we introduce to you our new venture. Wherein we will share with you our expertise that we gained over the last 100 years of banking. We have a dedicated team of Customer Relationship Managers (CRMs) to assist you in your Financial Planning, including ·

Analyzing your risk profile,

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Understanding your present and future financial needs,

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Matching your requirements with the available investment

options. ·

Explaining the risk inherent in such investments.

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Achieving the returns to fulfill with your financial objectives and goals.

Your dreams each one of us has a dream to fulfill like , * To see over investement growing. * To meet our liabilities fully and timely. * Optimizing tax liability. 5.

* Marriage or higher education for children. * Having a peaceful retired life. *Protect our families from only unforeseen events. * To insure our health as well as assets. YOUR CHALLENGE; However challenges to be met before the above dreams are Achieved. The main challenge in developing a financial plan are Your. * Risk appetite. * Cash outflows. * Available investement avenues. * Social obligations. Here comes our role in structuring a suitable financial plan for You, matching with the challenge and your life goal.

OUR VALUE PROPOSITION We offer you advisory Services, without handling your funds nds in any form. Beginning from your present financial profile, our Customer Relationship Officers would take you through the various stages involved in Financial Planning, like assessing your risk profile, understanding your future needs and security concerns, income streams and your retirement goals. We also understand that preserving wealth for future generations is also top in your list of priorities. We can structure a suitable financial plan for you, with appropriate asset allocations over different time horizons, to help you achieve your life goals. We also assist you in executing the plan by liaising with our business partners in India and abroad. 6.

We adopt a multistage approach towards Financial Planning.During the first stage, we interact with you to really understand things that are most important to you and what you would like to achieve with your money. We would also analyze your present financial profile and risk appetite.Working with this information, we take an overall view of your wealth and see how it can be best applied, so that you take control the future and achieve your life goals effortlessly. From there, we go on to develop a financial plan and investment strategy for you - one that properly fits your goals, timescales and risk tolerance. Once the financial plan is implemented, we also undertake regular monitoring of your portfolios, to ensure that your plan stays in the right track over the passage of time. Periodic reviews would also be made, so that necessary adjustments can be made on a timely basis. In short we just do not make a plan for you and leave you midway – We stay with you through out, as a guide. PRODUCT AND SOLUTION Our team would advise you on the intricacies of Mutual Fund market. Whether Equity funds where you look for investment growth or debt funds where you aim at capital preservation, we can suggest you to the right funds and right mix. LIFE INSURANCE…. Stop worrying about choosing the right plan to secure your family’s future. We can assist you here by selecting those schemes that are most suitable for your profile and goals. GENERAL INSURANCE…. We can also suggest non-life insurance solutions to your everyday concerns on Health, Home, property & Motor insurance.

DEPOSIT BRAND…. You can choose from wide range of Fixed Deposits, with attractive interest rates. RETIREMENT SOLUTION.. PROPER PLANNING PREVENTS POOR PERFORMANCE We at Indian Bank, endeavor to provide you with various options to enjoy your retirement life the way you want to . DEMAT ACCOUNT AND ONLINE STOCK TRADING PLATFORM You can now open Demat account with our Bank, to keep your securities in dematerialized form. Through our Subsidiary Ind Bank Merchant Banking Services, we bring you a state of art online trading platform, at competitive terms. 7. With interconnectivity between your Demat and Bank account with Indian bank, a convenient 3 in 1 structure is now available for seamless online trading in BSE and NSE stocks. DEPOSITS… You can choose from our Bank’s wide range of Fixed Deposits, with attractive interest rates. Our ,power and platinum sb accounts offer. SWARN MUDRA ( INDIAN BANK PURE GOLD ).. An ideal instrument for gift as well as savings, pure Gold coins are available at all our major branches. These 24 Carat gold coins are imported from Switzerland and carry a 999.9% Assay Certification, signifying highest level of purity as per international standards. CREDIT CARD.. Enjoy the power of our Global Visa Card, to meet all your requirements, around the world. Free personal accident cover available for both cardholder and one add-on cardholder. DEBIT CARD.. Our Mastreo Debit Card is valid internationally and accepted at all Master card merchant establishments worldwide. MOBILE BANKING.. Banking at your convenience! Make payments and funds transfers through your Mobile phone by registering your hand phone number with us.

HOME LOANS:

Indian bank homes are provided by keeping in mind the housing requirements of people in India. Indian bank was established on 15th august 1907 as part of the swadeshi movement with 1476 branches across India and consists of 22,000 staff members, it has two overseas branches one in Singapore and other one inColombo. There are 229 correspondent, banks in 69 Countries . There are three subsidiary componies of Indian bank . * Ind bank merchant banking services ltd. * Ind bank housing ltd. * Ind fund management limited. 8.

To avail house loans from Indian bank you can be either be one these with regular income and minimum Exp. Of 3 years. (A) Salaried class (B) Professionals (c) Self employed/ business man. Even the pensioners with repayment capacity and Net worth can apply for home loan . But in this care Guarantee or NOC From legal heir is required,while taking a home loan your age should not be more than,50 yrs but with the permission of circles head that can be extended to 60 yrs. You can take home loans for, ! Purchase of a new house/ flat . !Construction of new house /flat. ! Purchase of old house / new house. !Repair or renovate / existing house/ flat. !Refinancing to existing loans from other housing finance companies or co- operative housing societies. RS. 5lakh and other wise the amount for the home loans from Indian bank can be 36 times gross monthly,

Income or 60 times net monthly income whichever Is higher the rate of interest on home loans varies According to the period for which the loan is provided Option for fixed rate is also available with Indian bank.The home loan taken is required to be returned in 10 yrs if taken for repair and renovation purposes and within the period of 20 yrs.If it is for purchases or construction. There are many documents required at the time of taking a home loan from the Indian Bank the list of which is provided in their web sites. At present the up front free stands nil against the home loans taken from Indian bank.The official Websites of the Indian bank gives the full detail on home loans.There is facility to locate ATM, nearest to you online, besides home loans, Indian Bank also provide deposit schemes for senior Citizen,, professional loans , trade , finance, agriculture loans and crop loans. 9.

INDIAN BANK SEES OPERATING PROFIT TOUCHING RS 120 CRORES: M.Ramesh Chennai India Bank”s operating profit for the year ending on Sunday, would be “ More the double” of what it was the last year, the bank”s chairperson and Managing Director , Mr. Ranjan kumar told Business line on Saturday. Last year , the bank had reported and operating profit of Rs. 61.59 crore ( and a net loss of Rs 274 crore). The CMD”S statement implies that the bank would report on operating Profit of More than rs 120 crore for 2001-02. But this News should come as no surprise because as of the first three quarters of the year The bank had reported an operating profit of rs 102 crores. However , the Net profit would depend upon how much of provisioning the Bank has to make. There is a general trend of NPA build up and poor recoveries in the banking industry this year.

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