Customer Pref. Towards Services Provided By Hdfc Bank.docx

A SUMMER INTERNSHIP PROJECT REPORT ON “CUSTOMER PREF. TOWARDS SERVICES PROVIDED BY HDFC BANK” “HDFC BANK” Submitted to ATMIYA Institute of Technology & Science IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF THE AWARD FOR THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION Under Gujarat Technological University UNDER THE GUIDANCE OF P r o f . N i s h a n t Dhru v H e a d o f f i n a n c e departmen t

Z a h i r a b b a s Sherasi a D e p u t y Manage r

Submitted by SHAHBAZ AYUBBHAI BADI EnrollmentNo.:177030592007 M.B.A – SEMESTER III ATMIYA Institute of Technology & Science M.B.A PROGRAMME Affiliated to Gujarat Technological University, Ahmedabad July 2018

177030592007 ORIGINALITY REPORT

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PREFACE

As a part of our course I had to go through a summer internship project report on any topic to get the practical aspect of business management. I want to express my gratitude for experience and practical knowledge that I learn during the summer internship. In this report I had presented my great experience in the form of words. The project flows logically of questionnaire and face-to-face interaction with customers and employees to collect information require for project. I have tried my upmost to make this report a reader friendly and try to fulfill my objective of study.

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ACKNOWLEDGMENT

I take this opportunity to express my gratitude toward all of those who have diractly or indirectly helped me in the successful completion of this project. I present my very sincere thanks to Mr.Zahirabbas Sherasia (Deputy Manager,morvi) who allow me to take training @ HDFC Bank and support me with valuable insight into the completion of this project. I would also like to thank HDFC Bank staff for their suppord during internship. I am grateful toward my facuty membors form AITS and special thanks to Prof.Nishant Dhruv and Piyush Chandarava sir for their helpin successful completion of project. Last but not the list I am indebted to my PARENTS who support me and encourage me to prepare this report.

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DECLARATION I, SHAHBAZ AYUBBHAI BADI, hereby declare that the report for “Summer Internship Project Report ” entitle “CUSTOMER PREFERANCE TOWARD SERVICES PROVIDED BY HDFC BANK” is a result of my own work and my indebtedness and no part of this project has been published or submitted to anybody. Place: Rajkot Date: 22/07/2018

SHAHBAZ BADI

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Executive Summary Market research is a function that links the consumer, customer and public to the market through information. Information are used to identify and define marketing opportunities and problems, evaluate market actions, monitor marketing performance and improve understanding of marketing as process. Purpose of the study is to find out customers satisfaction, awareness and preference for HDFC bank product. Research objectives are:Customers sentiments on the various services provided by bank. To measure the awareness level of people regarding banking services offered by bank To evaluate overall satisfaction level of customers regarding services and products offered by the bank

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TABLE OF CONTENT Sr.No.

Particulars Preface Acknowledgment Declaration Executive Summary

1.0 1.1 1.2 1.3 1.4

Part-I Industry information About the industry World Market Indian Market The growth of the industry

2.0 2.1 2.2

2.3 2.4

Part-II Organization Information About Organization Intro to Functional Department Finance Marketing HR Product Organizational Structure SWOT Analysis

3.0 3.1 3.2 3.3 3.4 3.5

Part-III Primary study Introduction to the study Literature Review Background of study Problem statement Research objective

Page No. III IV V VI

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VI

4.0 4.1 4.2 4.3 4.4 4.5 4.6 4.7

Research methodology Research design Source of data Data collection method Population Sampling method Sampling frame Data analysis and interpretation

5.0 5.1 5.2

Findings Conclusion Limitation of study

6.0

Reference Bibliography (APA Style) Annexure

VII

Part – I Industry Information

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1.1 ABOUT THE INDUSTRY Meaning and definition: A bank is a financial institution that accepts deposits from public and creates credit. principal types of banking in modern industrial world is commercial banking & central banking. Banking can be defined as the business activity of accepting and safeguarding money owned by other individuals and then lending out this money in order to earn profit. A banker of a bank is a person ,a firm ,or a company engaged in the business of landing and accepting money.

Conclusion of bank:    

Accept deposits of money from public. Pays interest on money deposited with it. Lend or invest money. Repays amount on demand.

ORIGIN OF WORD BANK: After commerce and arts had revived in Italy, the business of banking was resumed. The world “Bank” is commonly regarded as derived from the Italian word banco, a bench- the Jews in Lombardy having benches in the market place for exchange of money and bills.

BIRTH OF BANKING:

Banking is nearly as old as civilization. The history of banking could be said to have started with the appearance of money. The first record of minted metal coins was in Mesopotamia in about 2500B.C. the first European banknotes, which was handwritten appeared in1661, in Sweden. Cheque and printed paper money appeared in the 1700’s and 1800’s, with many banks created to deal with increasing trade.

The history of banking in each country runs in lines with the development of trade and industry, and with the level of political confidence and stability. The ancient Romans

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developed an advanced banking system to serve their vast trade network, which extended throughout Europe, Asia and Africa. Modern banking began in Venice. The word bank comes from the Italian word “ban co”, meaning bench, because moneylenders worked on benches in market places. The bank of Venice was established in 1171 to help the government raise finance for a war.

At the same time, in England merchant started to ask goldsmiths to hold gold and silver in their safes in return for a fee. Receipts given to the Merchant were sometimes used to buy or sell, with the metal itself staying under lock and key. The goldsmith realized that they could lend out some of the gold and silver that they had and charge interest, as not all of the merchants would ask for the gold and silver back at the same time. Eventually, instead of charging the merchants, the goldsmiths paid them to deposit their gold and silver.

The bank of England was formed in 1694 to borrow money from the public for the government to finance the war of Augsburg against France. By 1709, goldsmith were using bank of England notes of their own receipts. New technology transformed the banking industry in the 1900’s round the world, banks merged into larger and fewer groups and expanded into other country.

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1.2 World Market The banking industry has experienced mixed results in the post-crisis period from 2008 to 2010. Industry growth has slowed considerably; the growth rate of assets of the top 1000 banks globally1 in the post-crisis period remained 3.7%, compared to the double digit rise in rates shown during the pre-crisis years of 2005 to 2007. On the other hand, when looking at risk management and profitability, there has been great recovery. Profits have returned to precrisis levels and the solvency of the industry has witnessed great result with growth of 3.8% registered in capital adequacy ratio during 2005 to 2010. The industry has also entered era of advance regulation. More capital adequacy and risk management standards are now being utilized with banks, along with a related rise in strain on their traditional business models and operating margins. Looking forward, certain key priorities have appeared for the banking industry, classification among them are: restoration of customer confidence; showing problem such as low efficiency of existing channels; ageing technology; high operating costs and the existence of complex processes. Technology, including the development of consumer related solutions, is rising being seen as a key to meeting these standerds. The global banking industry has experienced healthy growth in recent years, registering a compound annual growth rate (CAGR) of 4.7% between 2012 and 2016 to reach a value of $134.1 trillion, according to data from research firm MarketLine.

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1.3 Indian market

Indian banking introduction: As per the Reserve Bank of India (RBI), India’s banking sector is sufficiently capitalized and well-regulated. The financial and economic conditions in the country are far superior to any other country in the world. Credit, market and liquidity risk studies suggest that Indian banks are generally resilient and have withstood the global downturn well. Indian banking industry has recently witnessed the roll out of innovative banking models like payments and small finance banks. RBI’s new measures may go a long way in helping the restructuring of the domestic banking industry.

Market size:

The Indian banking system consists of 27 public sector banks, 22 private sector banks, 44 foreign banks, 56 regional rural banks, 1,589 urban cooperative banks and 93,550 rural cooperative banks, in addition to cooperative credit institutions. Bank credit grew at 12.64 per cent year-on-year to US$ 1,326.78 billion on May 11, 2018 from US$ 1,131.47billion on May 12, 2017.

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INDIAN BANKING SYSTEM

Reserve Bank of India

Non-Schedule Banks

Schedule Banks

State co-op Banks

Indian

Public Sector Banks

State Bank of India and its Subsidiaries

Central co-op Banks and Primary Cr. Societies

Commercial Banks

Commercial Banks

Foreign

Private Sector Banks

Other Nationalized Banks

HDFC, ICICI etc.

Regional Rural Banks

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MAJOR PLAYER IN INDIA 1. HDFC BANK LTD 2. ICICI BANK LTD 3. STATE BANK OF INDIA LTD 4. PUNJAB NATOINAL BANK LTD 5. BANK OF BARODA LTD 6. FEDERAL BANK LTD 7. AXIS BANK LTD 8. ING VYSYA BANK LTD 9. IDBI BANK LTD

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1.4 THE GROWTH OF INDUSTRY IN INDIA Investments/developments: Key investments and developments in India’s banking industry include: The bank recapitalization plan by Government of India is expected to push credit growth in the country to 15 per cent and as a result help the GDP grow by 7 per cent in FY19 ^. Public sector banks are lining up to raise funds via qualified institutional placements (QIP), backed by better investor sentiment after the Government of India's bank recapitalization plan and an upgrade in India's sovereign rating by Moody's Investor Service. In May 2018, total equity funding's of microfinance sector grew at the rate of 39.88 to Rs 96.31 billion (Rs 4.49 billion) in 2017-18 from Rs 68.85 billion (US$ 1.03 billion) .

Government Initiatives: A new portal named 'Udyami Mitra' has been launched by the Small Industries Development Bank of India (SIDBI) with the aim of improving credit availability to Micro, Small and Medium Enterprises' (MSMEs) in the country. Mr Arun Jaitley, Minister of Finance, Government of India, introduced 'The Banking Regulation (Amendment) Bill,2017', which will replace the Banking Regulation (Amendment) Ordinance, 2017, to allow the Reserve Bank of India (RBI) to guide banks for resolving the problems of stressed assets. As on January 4, 2018, the Lok Sabha has approved recapitalization bonds worth Rs 80,000 crore (US$ 12.62 billion) for public sector banks, which will be accompanied by a series of reforms.

The government and the regulator have undertaken several measures to strengthen the Indian banking sector: A two-year plan to strengthen the public sector banks through reforms and capital infusion of US$ 32.5 billion, has been unveiled by the Government of India that will enable these banks to play a much larger role in the financial system and give a boost to the MSME sector. In this regard, the Lok Sabha has approved recapitalization bonds worth US$ 12.62 billion for public sector banks, which will be accompanied by a series of reforms, according to Mr Arun Jaitley, Minister of Finance, Government of India.

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The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2017 Bill has been passed by Rajya Sabha and is expected to strengthen the banking sector.

Further initiatives: The advancements in technology have brought the mobile and internet banking services to the fore. The banking sector is laying greater emphasis on providing improved services to their clients and also upgrading their technology infrastructure, in order to enhance the customer’s overall experience as well as give banks a competitive edge. Many banks, including HDFC, ICICI and AXIS are exploring the option to launch contact-less credit and debit cards in the market shortly. The cards, which use near field communication (NFC) mechanism, will allow customers to transact without having to insert or swipe. Exchange Rate Used: INR 1 = US$ 0.016 as on FY2018.

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Part – II Organization Information

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2.1 ABOUT ORGANIZATION

INTRODUCTION: HDFC Bank is known as Housing Development Finance Corporation Limited . If ever there was a man with a mission it was Hasmukhbhai Parekh, Founder and Chairman of HDFC Group. HDFC BANK LTD was amongst the first to set up a bank in the private sector. HDFC bank was incorporated on 30th August 1994 in the name of ‘HDFC Bank Limited’, with its registered office in Mumbai. It commenced operations as a Scheduled Commercial Bank on 16th January 1995. It has 88,253 permanent employees as on 31st March 2018 and has a presence in Bahrain, Hong Kong and Dubai. HDFC Bank is India’s largest private sector lender by assets. As of June 30, 2017, the bank's distribution network was at 4,715 branches and 12,260 ATMs across 2,657 cities and towns. The bank also issued 235.7 Lacs debit cards and 85.4 Lacs credit card in FY 2017.

MISSION: I. II.

World Class Indian Bank Benchmarking against international standards.

III.

To build sound customer franchises across distinct businesses

IV.

Best practices in terms of product offerings, technology, service levels, risk management and audit & compliance

MERGERS AND ACQUISITION: HDFC Bank merged with Times Bank in February 2000. This was the first merger of two private banks in the New Generation private sector banks category. In 2008, Centurion Bank was acquired by HDFC Bank.

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BUSINESS STRATEGY I. II. III.

Increasing market share in India’s expanding banking Delivering high quality customer service Maintaining current high standards for asset quality through disciplined credit risk management

IV.

Develop innovative products and services that attract targeted customers and address inefficiencies in the Indian financial sector.

AWARDS AND ACHIEVMENTS: HDFC Bank began operations in 1995 with a simple mission: to be a "World-class Indian Bank". We realised that only a single-minded focus on product quality and service excellence would help us get there. Today, we are proud to say that we are well on our way towards that goal. It is extremely gratifying that our efforts towards providing customer convenience have been appreciated both nationally and internationally.

2018

BrandZ's Top 100 Global Brands List

HDFC Bank featured for the fourth time in the BrandZ's Top 100 Global Brands List

14th Visa Asia Pacific Security Summit

India and South Asia Champion Security Award 2018

National Payments Excellence Awards 2018

HDFC Bank wins NPCI National Payments Excellence Awards

Barron's World's Top 30 CEOs

Mr. Aditya Puri in Barron's Top 30 Global CEOs for 4th year - Growth Leaders Category

Dun & Bradstreet Corporate Award 2018

Best Bank

Federation of Indian Export Organisation (FIEO)

Best Bank : Export Finance - Non MSME

Business Today Best Bank Awards

Bank of the Year Best in Innovation Best Large Bank Fastest Growing Large Bank

Dun & Bradstreet BFSI Awards 2018

India's Leading Bank - Private sector

Euromoney Private Banking and Wealth Management survey 2018

- Net-worth-specific services (High Net Worth Clients US $ 5-30 MN)

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- Asset Management - SRI/Social Impact Investing - International Clients 10th BW Businessworld-PwC Best Banks' (2017) Survey

- Fastest Growing Large Bank - Best Large Bank - Lifetime Achievement Award - Mr. Aditya Puri

BUSINESS SEGMENT HDFC Bank offers a wide range of commercial and transactional banking services and treasury products to wholesale and retail customers. The bank has three key business segments:

Wholesale Banking Services: The Bank's target market ranges from large, blue-chip manufacturing companies in the Indian corporate to small & mid-sized corporate and agri-based businesses. For these customers, the Bank provides a wide range of commercial and transactional banking services, including working capital finance, trade services, transactional services, cash management, etc. The bank is also a leading provider of structured solutions, which combine cash management services with vendor and distributor finance for facilitating superior supply chain management for its corporate customers. Based on its superior product delivery / service levels and strong customer orientation, the Bank has made significant inroads into the banking consortia of a number of leading Indian corporate including multinationals, companies from the domestic business houses and prime public sector companies. It is recognized as a leading provider of cash management and transactional banking solutions to corporate customers, mutual funds, stock exchange members and banks.

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Retail Banking Services : The objective of the Retail Bank is to provide its target market customers a full range of financial products and banking services, giving the customer a one-stop window for all his/her banking requirements. The products are backed by world-class service and delivered to the customers through the growing branch network, as well as through alternative delivery channels like ATMs, Phone Banking, Net Banking and Mobile Banking. The HDFC Bank Preferred program for high net worth individuals, the HDFC Bank Plus and the Investment Advisory Services programs have been designed keeping in mind needs of customers who seek distinct financial solutions, information and advice on various investment avenues. The Bank also has a wide array of retail loan products including Auto Loans, Loans against marketable securities, Personal Loans and Loans for Two-wheelers. It is also a leading provider of Depository Participant (DP) services for retail customers, providing customers the facility to hold their investments in electronic form. HDFC Bank was the first bank in India to launch an International Debit Card in association with VISA (VISA Electron) and issues the Master card Maestro debit card as well. The Bank launched its credit card business in late 2001. By September 30, 2005, the bank had a total card base (debit and credit cards) of 5.2 million cards. The Bank is also one of the leading players in the "merchant acquiring" business with over 50,000 Point-of-sale (POS) terminals for debit / credit cards acceptance at merchant establishments.

Treasury: The bank has three main product areas - Foreign Exchange and Derivatives, Local Currency Money Market & Debt Securities, and Equities. Pricing on various treasury products are provided through the bank's Treasury team. To comply with statutory reserve requirements, the bank is required to hold 25% of its deposits in government securities. The Treasury business is responsible for managing the returns and market risk on this investment portfolio.

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2.2 INTRODUCTION TO FINANCE, MARKETING, HR &

PRODUCTS I- FINANCE DEPARTMENT

FUNCTIONS OF FINANCE DEPARTMENT: Finance department is responsible for management of the organization’s cash flow and ensuring there are enough funds available to meet the day-to-day payment. Finance also encompass the credit and collection policies for organization. It helps to forecast the future needs of expenses & income. To advise day-to-day need of working capital and sourcing of long term finance. To evaluate the cash flow and performance by reading balance sheet and profit & loss statement.

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BALANCE SHEET (IN CRORES):

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PROFIT & LOSS ACCOUNT(IN CRORES):

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II- MARKETING DEPARTMENT INTRODUCTION: Marketing department plays vital role in promoting business and mission of an organization. It is the marketing department’s job to reach out to customers, investors or community, while creating an overarching image that represent your company in a positive light.

Meaning: According to Philip Kotler, ”marketing s human activity directed at satisfying needs and wants through exchange process.” Marketing is an important social economical activity. It is essential activity for satisfaction of wants and for raising social welfare. Marketing links products and customer together for mutual benefits.

MARKETING OF BANK SERVICES: Marketing of banking is concern with product, place, price and promotion decision in the changing, socio-economic and business environment. It means right activities and programs at right place, @right time, @right price with right communication and promotion. The bank deals customer directly. The bank marketing activities are concern with the designing of product strategies keeping in view the needs and requirement of prospect.

PURPOSE OF BANK MARKETING: Identify most profitable now and in future Assessing the present and future needs of customer Setting business development goals and making plans to meet them

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HDFC BANK MARKET STRATEGY HDFC BANK mission is to be "a World Class Indian Bank", benchmarking themselves against international standards and best practices in terms of product offerings, technology, service levels, risk management and audit & compliance. The objective is to build sound customer franchises across distinct businesses so as to be a preferred provider of banking services for target retail and wholesale customer segments, and to achieve a healthy growth in profitability, consistent with the Bank's risk appetite. Bank is committed to do this while ensuring the highest levels of ethical standards, professional integrity, corporate governance and regulatory compliance. Continue to develop new product and technology is the main business strategy of the bank. Maintain good relation with the customers is the main and prime objective of the bank. HDFC BANK Market Strategy Emphasizes The Following: Increase market share in India’s expanding banking and financial services industry by following a disciplined growth strategy focusing on quality and not on quantity and delivering high quality customer service. Leverage our technology platform and open scalable systems to deliver more products to more customers and to control operating costs. Maintain current high standards for asset quality through disciplined credit risk management. Develop innovative products and services that attract the targeted customers and address inefficiencies in the Indian financial sector. Continue to develop products and services that reduce bank’s cost of funds. Focus on high earnings growth with low volatility.

INITIATIVE TAKEN BY BANK: HDFC embarked on a data-led marketing analytics campaigns ,using marketing automation technology provided by Unica. HDFC Bank has been using direct mailers, e-mails, and SMS for communicating to target audience as they are the most cost-effective routes of addressing core target audiences. HDFC has also taken media base marketing and on-the-ground marketing activities.

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III- HR DEPARTMENT INTRODUCTION: Human resources overall purpose is to ensure that the organization is able to achieve success through people. HR professionals manage the human capital of an organization and focus on implementing policies and processes. They can specialize in recruiting, training, employeerelations or benefits. Recruiting specialists find and hire top talent. Training and development professionals ensure that employees are trained and have continuous development. This is done through training programs, performance evaluations and reward programs. Employee relations deals with concerns of employees when policies are broken, such as in cases involving harassment or discrimination.

HR IN BANKING: The banking industry is a highly regulated powerhouse that stabilizes the economic environment of nations around the world. Banks store sensitive, personal information about their clients, and commercial banks often house more valuable inventory -- cash -- than other retail operations. Bank employees, from executives to tellers, must have a higher level of integrity and trustworthiness than employees in most other industries, making the role of HR in banking that much more important.

I) Applicant Screening Certain jobs do not really require a thorough background check, but any job in a bank definitely does. Human resource departments in banks must go the extra mile to uncover the criminal and financial history of job applicants, for the safety of their clients and their organization as a whole. Banks are highly unlikely to hire candidates with financial fraud on their records, for example, due to the sheer weight of temptation a position in a bank would place on someone with that kind of history.

II) Bank Security Human resources departments must design and monitor work processes to reduce opportunities for internal theft and collusion. HR policies separate cash receiving, storage, processing and disbursement, and record all activities via video surveillance. In the event that an employee attempts to steal from a bank, the HR department must handle the legal paperwork and administrative processes required by court proceedings.

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III)

Pay Decisions

As with other industries, HR professionals in banks have a hand in making decisions for pay raises and promotions. Bank workforces are unique in that they often have two methods of paying employees: salaries for back-office and other personnel, and commissions for sales employees. Promotion decisions for salespeople selling loans and other financial products differ from decisions to promote administrative staff. Banks' HR departments must manage both equitably and strategically to develop the workforce.

IV) Executive Recruitment The banking industry is highly competitive, and banks constantly navigate a legal minefield that can devastate companies that step out of line. Finding the right executives is crucial in any industry, but especially one in which competition is so fierce and legal compliance so important. Human resources professionals in banks must go the extra mile to recruit the best executive talent in the banking field, allowing their organizations to thrive and grow into the future. Human resources departments in corporations must gain approval of the board of directors before bringing someone in to fill an executive spot, as well

HR POLICIES OF HDFC: HDFC believe that our employees are our most valuable asset. We make an effort to develop the abilities and productivity of our staff. We encourage a work culture, foster relationship with them at every level in the organization. and make them to express their views and share their ideas to bring about improvements in the organization towards the achievement of the common goal described in our vision and mission statements. Our employees take pride in their work as they are given due respect, and by being empathetic and sensitive to each others needs. We could make every endeavor to foster a productive culture through out the Bank. The Bank is a team –focused organization that is characterized by Collaborative relationships; Approachable and open communications; Courteous ,efficient and effective services; and Flexibility and fairness

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PURPOSE: The purpose of this policy is to ensure that the human resources values framework incorporates four key principles, which are;

I) Communication Bank’s management and staff will promote an environment where the principles of open communication will be upheld. For the purpose of this policy ,open communication encapsulates the idea of; Mutual recognition an respect at all levels; Freedom to express one’s views and a commitment to resolving any interpersonal conflict; Promotion and development of two way communication incorporating constructive feedback; Appropriate dissemination of dissemination of information.

II) Opportunity Bank’s management and staff will promote a work environment that provides opportunity for; Improved work practices; Support of individuals in pursuit of personal and career growth and Encouragement of self development by recognizing and using individual strengths.

III) Innovation Bank’s management and staff will promote an envioronment to encourage initiative leading to flexibility and growth. This philosophy will facilitate improved work practices , which meet organizational needs through the challenging of preconceived ideas.

IV) Individual Bank’s management and staff acknowledge the importance of each individual’s contribution to the work of the Bank by recognizing their qualities , strengths and abilities and sharing these across the Bank.

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ROLES AND RESPONSIBILITIES: I) Board of Directors Board will endeavor to provide; direction and support to management and staff to attract ,retain ,motivate and develop quality staff in order to achieve the Bank’s goals; assistance to management and staff to focus on the performance and productivity of individuals , teams and workgroups whilst meeting the Bank’s objectives; remuneration under the current contract of employment and other employment conditions consistent with legislative requirements.

II) HR Department HR Department is responsible for; regular review and development of human resource management practices; periodic review of the work priorities to determine skill requirements needed to meet the Bank’s strategic plan; determination of an organizational structure that will facilitate and improve teamwork; and appointment and promotion of staff on merit and to ensure that treatment of all employees is fair and equitable.

III) Managers Managers are responsible for; providing development opportunities for staff that relate to performance in order to achieve organizational and individual needs; agreed performance standards for staff and assistance with the achievement of identified goals; regular review and improve where necessary ,human resource structures and processes in line with Board directions. This will facilitate best practice, work flexibility and the ability to adapt quickly to changing needs; constructive feedback with an aim to improve work practices and relationships; and establishment and encouragement of team development

IV) Corporate Management Corporate Management is responsible for: Counseling for career path development to the respective employees. provide necessary guidelines and directions to review and improve the skills of the employees to the respective Managers. providing coaching to the Managers to enable them to understand the hidden talents of the employees. 23

V) Employees Employees are responsible for; incorporation of the principles of this policy into their work practices and to make themselves personally accountable for implementing the human resource values framework; use of initiative in relation to their own personal development; utilization of their individual strengths in improvement of work practices; achievement of organizational goals through participation in the development plans, policies and procedures; adherence to all policies ,procedures, agreed code of conduct and standards; and assistance in the prevention of discrimination and the promotion of equal opportunities when interacting with other employees.

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PRODUCT DEPARTMENT: PRODUCT OF HDFC BANK: HDFC bank provide very large range of financial product to the customer for their better financial transaction. The product of HDFC bank are:

SAVING ACCOUNT Everyone needs a saving account to store away the surplus cash. The bank offers saving account under various types starting from basic ac to premium ac with variety of features. The interest rate on saving account are 4% p.a. which is calculated daily on the end of the day balance. Followings are types of saving account:

Savings Account

Interest Rate

Minimum Balance Required

Savings Max Account

4.00%

INR 25,000

Rs. 10,000 (urban branches) Regular Savings Account

4.00%

Rs. 5,000 (semi-urban branches) Rs.2,500 (Rural Branches)

Rs. 10,000 (Urban branches), Women's Savings Account

4.00%

Kids Advantage Account

4.00%

INR 5,000

Senior Citizens Account

4.00%

INR 5,000

Family Savings Group Account

4.00%

INR 40,000

Basic Savings Bank Deposit Account

4.00%

Not Required

Institutional Savings Account

4.00%

Not Required

BSBDA Small Account

4.00%

Not Required

Rs. 5,000 (Semi Urban branches)

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SALARY ACCOUNTS The bank offers multiple types of salary ac to suit the needs of all types of corporate. The salary account offers various features to accountholders like free insurance coverage. The salary ac types are as follow:       

Premium salary ac Regular salary ac Defense salary ac Salary family ac Classic salary ac Reimbursement salary ac Basic saving bank deposit ac-salary

CURRENT ACCOUNT HDFC Bank offers a number of customized current account options which are customized to suit the individual requirements of customers. The accounts do not limit the number of daily transactions and provide a host of benefits. Given below are some of the popular current accounts offered by HDFC bank.

ULTIMA Current Account ULTIMA is an ideal solution for businesses looking for features beyond the normal current account options. It is designed keeping in mind the transaction requirements of manufacturers, distributors, multispecialty hospitals, etc.

Supreme Current Account The Supreme Current Account offered by HDFC Bank helps large traders to manage their transactions with ease. It also provides access to the most advanced and secure form of internet banking and mobile banking services.

Apex Current Account It’s a dynamic current account which offers a wide range of value added services. Customers can take the advantage of cash deposit limits equal to 10 times the average monthly balance of the previous month. Customers can also avail free demand drafts and pay facility.

EZEE Current Account This account is best suited for those who traders who operate across various cities. Customers can enjoy combined cash deposit limits across all branches in the country. If you have opened an account in semi-urban and rural branches, then you can avail discounts on the average quarterly balance requirements.

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Max Current Account The Max Current Account offers a dynamic cash deposit limit at any branch across the country. The cash limit offered under the Max Current Account is equal to 10 times the current month average monthly balance.

Agri Current Account As the name suggests, the current account offers a number of features to agricultural industries to help them achieve maximum benefits on the deposits. Customers can send and receive cheque payments anywhere in the country. Also, no charges are deducted on deposits up to Rs.10 lakhs.

Plus Current Account This account is designed for businessmen who deal with suppliers in different parts of the country. Its allows the customer to deposit cash across all HDFC bank networks and provides additional 50 pay per orders and 50 demand drafts which can be issued at any branch.

Current Account for Hospitals and Nursing Homes The account allows free unlimited collection of funds through RTGS and NEFT, and provides monthly cash deposits up to Rs.10 lakhs. In addition to that, you can also avail 30 demand drafts and pay orders each month.

LOANS HDFC is leader in home sector and also provides various loans @ attractive interest rate.         

Personal loan Business loan Car loan Home loan Two-wheeler loan Gold loan Education loan Rural loan Loan on assets

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CREDIT CARDS Here is the list of credit cards from HDFC banks. You can find one according to your needs-

1) REGULAR CARDS The first one is the most commonly used credit card and every HDFC bank customer has one. The brand name of the credit card for regular category is Platinum Plus. You can use this card for almost every purpose from shopping to fueling your car. Here are some of the features of Platinum Plus card given by the HDFC bank.

2) PROFESSIONAL CARDS Second category is of professional credit cards. HDFC offers two types of cards in this category. The first one is Doctor’s Superia and the other one is Teacher’s Platinum.  Doctor’s Superia  Teacher’s Platinum.

3) PREMIUM CARDS Premium comes with three different categories.  World Master card  Dinner Club Premium  Dinner Club Reward  Visa Signature

4) PREMIUM WOMEN This credit card is perfect for all women’s need. The card name is Solitaire. Solitaire is woman friendly card and you get Rs 1000/- Shoppers stop vouchers on Rs 75,000/- spends every 6 months. Plus 50% rewards on grocery and dining.

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5) SUPER PREMIUM CARD Super premium comes with three brand names INFINIA There is no pre limit Regalia Regalia is good for only travel and luxury benefits Diner Club Black It is international credit card with huge benefits. You gain access to elite golf clubs in India as Green Fee Player.

6) FEATUIRED CARDS Featured card is very basic one. There are four different categories of credit cards here Jet Privilege card Again the travel privileges are exclusive. Welcome benefit is up to 10000 bonus and one way base fare waiver for Jet airways ticket. You also get 10 kg of access luggage relief. Platinum Times Card You get flat 25% off on movie tickets and up to 20% off on dining in top hotels of the country. The offer is for 365 days of the year. Titanium Times Card Same as Platinum card you get flat 25% off on movie tickets but up to 15% off on dining in top hotels of the country.

7) PREMIUM TRAVEL CARDS  Superia  All miles

8) CASH BACK CARDS Here you can enjoy cash back on everyday shopping.  Platinum Edge  Titanium Edge  Money Back

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9) COMMERCIAL CARDS Commercial is best suited for commercial needs of big businesses.    

Business Platinum Corporate Platinum Corporate World Mastercard Corporate Card

DEBIT CARDS All residents of India and NRIs can apply for HDFC Bank debit cards and enjoy privileges and offers. A person having a savings account / current account / super saver account / salary account is eligible for HDFC debit card.        

Times Points Debit Card Jet Privilege HDFC Bank World Debit Card Imperia Platinum Chip Debit Card Platinum Debit Card Titanium Royale Debit Card Gold Debit Card Titanium Debit Card Debit Card

DEPOSITES Individual who wish to save money for long terms with a view to higher rate of interest seek to invest money in term deposit account which guarantee higher interest rate. HDFC BANK offers various deposit account @ higher interest rate.    

Regular fixed deposit Recurring deposit 5 year tax saving fixed deposit Safe deposit locker

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INVESMENT AND INSURANCE SERVICE Nowadays a ward investment is becoming more popular. Person invest their money in to various schemes or in to the gold or share market etc. but some time he is in to the difficult situation, for that bank help person invest wisely through financial and investment services. Types of investment: -

Mutual Funds Invest through the Mutual Fund route to meet varied investment objectives.

GENERAL AND HEALTH INSURANCE

Complete protection for business, health, travel & more.

Insurance Traditional Plans

Unit Linked Plans

HDFC children's PLAN

HDFC Unit Linked Young Star Plus II

HDFC Money Back Plan

HDFC Unit Linked Young Star Suvidha

HDFC Savings Assurance Plan

HDFC Unit Linked Young Star Suvidha Plu

HDFC Assurance Plan

HDFC Unit Linked Pension

HDFC Term Assurance Plan

HDFC Unit Linked Pension Plus

HDFC Loan Cover Term Assurance Plan

HDFC Unit Linked Endowment Plus II

HDFC Endowment Assurance Plan

HDFC Unit Linked Endowment Suvidha.

HDFC Single Premium Whole of Life Insurance HDFC Unit Linked Endowment Suvidha HDFC Unit Linked Enhanced Life Protection

FOREX AND TRADE ERVICE Nowadays businesses becoming worldwide e.g. India to America but main problems are about monitory transaction because at every country the currency become changed so for that banks are playing a very important for the businesses.

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If people need to deal in foreign currency and keep tabs on exchange rates every now and then, transfer monies to India, make payments etc., HDFC Bank has a range of products and services that people can choose from to transact smoothly, efficiently and in a timely manner.

PAYMENT SERVICE HDFC Bank's payment services, person can bid goodbye to queues and paper work. Bank’s range of payment options make it easy for pay for a variety of utilities and services.

Verified By Visa Do you want to be worry free for your online purchases. Now you can shop securely online with your existing Visa Debit/Credit card.

Net Safe Now shop online without revealing your HDFC Bank Credit Card number. What more, you can now use your HDFC Bank Debit Card also for online purchases.

Merchant Services Accept all Visa, MasterCard, credit and Debit cards at your outlets through state of the art POS Machines or through your website and experience hassle free payment acceptance.

Prepaid Mobile Refill If you are an HDFC Bank Account holder, you can now recharge your Prepaid Mobile Phone with this service.

Bill Pay Pay your telephone, electricity and mobile phone bills at your convenience. Through the Internet, ATMs, your mobile phone and telephone - with Bill Pay, our comprehensive bill payments solution.

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Visa Bill Pay Pay your utility bills from the comfort of your home! Pay using your HDFC Bank Visa credit card and forget long queue and late payments forever

Pay Now Use your HDFC Bank Credit Card to pay your utility bills online, make subscriptions and donations; no registration required. Enjoy credit free period and reward points as per your credit card features.

Insta Pay Pay your bills, make donations and subscribe to magazines without going through the hassles of any registration.

Direct Pay Shop or Pay bills online without cash or card. Debit your account directly with our Direct Pay service!

Visa Money Transfer Transfer funds to any Visa Card (debit or credit) within India at your own convenience through HDFC Bank's Net Banking facility.

e-Monies National Electronic Funds Transfer Transfer funds from your account to other Bank accounts across India - FREE of cost.

Online Payment of Excise & Service Tax Make your Excise and Service Tax payments at your own convenience through HDFC Bank's Net Banking facility.

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2.3 ORGANIZATION STRUCTURE ORG. STRUCTURE @MORVI BRANCH Managing Director Mr.Aditya Puri

Country Head Mr.Navin Puri

Regional Head Mr.Ravi Narayan

Zonal Head Mr.Thomas Jose

Cluster Head Mr.Susil Vohra

Branch Head Morvi Mr.Ashish Selera

Other authorities @ Morvi Branch are P.B Authorizer-: Mr. Amit Barot Relationship Manager:-Mr. Zahirabbas Sherasia Assistant Manager:-Mr. Amarsing Kumar Investment RM:-Mr. Deepak Tangi Teller Authorizer:-Mr. Bhavin

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HDFC Bank's Board of Directors comprises eminent individuals with a wealth of experience in public policy, administration, industry and commercial banking. Senior executives representing HDFC Ltd. are also on the Board. Various businesses and functions in the Bank are headed by senior executives with work experience in India and abroad. They report to the Managing Director. The Bank is focused on recruiting and retaining the best talent in the industry as it believes that its people are a competitive strength.

2.4 SWOT ANALYSIS S-STREANTH OF HDFC BANK HDFC bank is the second largest private banking sector in India having 2,201 branches and 7,110 ATM’s HDFC bank is located in 1,174 cities in India and has more than 800 locations to serve customers through Telephone banking The bank’s ATM card is compatible with all domestic and international Visa/Master card, Visa Electron/ Maestro, Plus/cirus and American Express. This is one reason for HDFC cards to be the most preferred card for shopping and online transactions HDFC bank has the high degree of customer satisfaction when compared to other private banks The attrition rate in HDFC is low and it is one of the best places to work in private banking sector HDFC has lots of awards and recognition, it has received ‘Best Bank’ award from various financial rating institutions like Dun and Bradstreet, Financial express, Euro money awards for excellence, Finance Asia country awards etc HDFC has good financial advisors in terms of guiding customers towards right investments

W-WEAKNES OF HDFC BANK HDFC bank doesn’t have strong presence in Rural areas, where as ICICI bank its direct competitor is expanding in rural market HDFC cannot enjoy first mover advantage in rural areas. Rural people are hard core loyals in terms of banking services. HDFC lacks in aggressive marketing strategies like ICICI The bank focuses mostly on high end clients Some of the bank’s product categories lack in performance and doesn’t have reach in the market The share prices of HDFC are often fluctuating causing uncertainty for the investors

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O-OPPORTUNITIES OF HDFC BANK HDFC bank has better asset quality parameters over government banks, hence the profit growth is likely to increase The companies in large and SME are growing at very fast pace. HDFC has good reputation in terms of maintaining corporate salary accounts HDFC bank has improved it’s bad debts portfolio and the recovery of bad debts are high when compared to government banks HDFC has very good opportunities in abroad Greater scope for acquisitions and strategic alliances due to strong financial position

THREATS OF HDFC BANK The non banking financial companies and new age banks are increasing in India The HDFC is not able to expand its market share as ICICI imposes major threat The government banks are trying to modernize to compete with private banks RBI has opened up to 74% for foreign banks to invest in Indian market

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Part – III Primary Study

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3.1 INTRODUCTION TO STUDY The report contains the organizational study done @HDFC bank. The report title is “CUSTOMERS PREFERANCE TOWARDS SERVICES PROVIDED BY HDFC BANK” The report gives an overview of the banking sector and company profile and awareness of customers about different types of product and services provided by HDFC bank. HDFC Bank provide many services which includes savings ac, current ac, deposits, insurance, SIP(systematic investment planning), d-mat ac etc.. and purpose of this study is to understand customers awareness and preference toward these services.

3.2 LITURATURE REVIEW 1. Rathamani.P (2002) in his study on “customer satisfaction towards private sector banks”

determines the changing dynamics of banking industry driven by the growth of increase in personal consumption of customer on account rising income and increasing family incomes. 2. John.s.Gabriel (2005) “challenges faced on by private sector banks” said that banking industry mainly focus on the consumer his needs and requirements rather than profit maximization. 3. Mukta kamplikar (2005) in his study entitled “managing the evidence of services includes people process and physical evidence the human actors who play a point in service that affect quality the actual set of steps and the efficiency of these environment”. 4. Vijaykumar.T (2007) in his studied entitled “the challenge of customer relationship approach for net banking” customer company relationships are increasingly topical for business practioners and researchers the main tasks are identifying, establishing, maintaining, enhancing and terminating relationship with customers with the objective of achieving mutual satisfaction. 5. Chakarabarty (2009) in his study “customer service in banking industry is of the view that in a service industry like banks the quality of customer services hold great significance particularity in the context of sustained business growth”.

3.3 BACKGROUND OF THE STUDY This study is undertaken @ HDFC branch based on Morvi district where we approach few customers and ask them few questions to understand their perception for HDFC banking facility. We try to understand that how well they are aware of banking services and how much they prefer use HDFC bank for banking.

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3.4 PROBLEM STATEMENT To measure the status of customers perception based on satisfaction level, product awareness, preference and usage rate of banking service of HDFC bank in the mind of customer.

3.5 RESEARCH OBJECTIVE Purpose of the study is to find out customers satisfaction, awareness and preference for HDFC bank product. Research objectives are:Customers sentiments on the various services provided by bank. To measure the awareness level of people regarding banking services offered by bank To evaluate overall satisfaction level of customers regarding services and products offered by the bank

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4.0 RESEARCH METHEDOLOGY Research methodology is a process used to collect information and data for the purpose of making business decisions. The methodology may include publication research, interviews, surveys and other research techniques, and could include both present and historical information.

4.1 RESEARCH DESIGN A research design is a systematic approach that a researcher uses to conduct a scientific study. It is the overall synchronization of identified components and data resulting in a plausible outcome. To conclusively come up with an authentic and accurate result, the research design should follow a strategic methodology, in line with the type of research chosen. In this report I have used descriptive research technique. Descriptive research is used to describe characteristics of a population or phenomenon being studied. This research includes survey and fact-finding inquiries of different kind.

4.2 SOURCE OF DATA Primary data is the data which is collected through personal contact. Through questionnaire- The questionnaire is written set of questions Through personal contact- in personal interaction ask question in face-to-face contact to other person

Secondary data is the data which are available in the form of fact and figures. The source of secondary data are: Websites Magazines Articles

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4.3 DATA COLLECTION METHOD For data collection I have used questionnaires.

4.4 POPULATION My sample size for this project is 35 respondents.

4.5 SAMPLING METHOD For this project I have used convenient sampling method. Convenience sampling (also known as availability sampling) is a specific type of nonprobability sampling method that relies on data collection from population members who are conveniently available to participate in study.

4.6 SAMPLING FRAME Here I have used pie and graph as frame to interpret data.

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4.7 DATA ANALYSIS & INTERPRETATION 1) Since how many year you are dealing with bank?

Years Less than 1 year 1 to 2 year 3 to 5 year More than 5 year Total

Response 7 9 13 6 35

Response 17%

20%

Less than 1 year 1 to 2 year

37%

26%

3 to 5 year More than 5 year

Interpretation: 26% Respondents have their account in HDFC bank for more than 5 years 17% Respondents are new account holders in bank

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2) what kind of facility are you using @HDFC bank? Services Saving ac Current ac Salary ac other(Dmate Total

Response 11 15 6 3 35

Response 9% 31%

17%

Saving ac Current ac Salary ac other(D-mate

43%

Interpretation: From above chart it is clear that 31% respondents are saving account holder Major respondents are current account holder 9% respondents are other account holders which includes D-mat account and others 17% are salary account holders

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3) Are you aware of other services provided by HDFC bank? Options Yes No Total

Response 21 14 35

Response

No 40%

Yes 60%

Interpretation: This chart shows that 60% Respondents are aware of other different facilities provided by HDFC bank while other are unknown.

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4) What kind of additional service would like to have? Services Response Mobile 7 banking ATM 8 Net banking 14 Bill payment 6 Total 35

Response

Bill payment 17%

Net banking 40%

Mobile banking 20%

ATM 23%

Interpretation: Chart shows that most of respondents are interested in net banking with 40% strength 17% interested in ATM service 20% like to use mobile banking 23% like to have bill payment

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5) Are you aware of any other extra services? Services Loan Insurance FD Mutual funds Total

Response 16 8 4 7 35

Response

Mutual funds 20% FD 11%

Loan 46%

Insurance 23%

Interpretation: 46% respondent selected loans which shows highest level of awareness Few respondents are aware about Fixed Deposits with 11% strength 23% respondent selected insurance while 20% has selected Mutual fund

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6) What is your perception regarding service of HDFC bank? Ratings Very satisfactory Satisfactory Good Poor Total

Response 10 18 5 2 35

Response Poor 6% Good 15% Very satisfactory 26%

Satisfactory 53%

Interpretation: 53% respondent are satisfy with HDFC bank while 6% say that services are poor 15%,26% respondents says that services are good and satisfactory

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CHI SQUARE TEST:  What is the perception of customer regarding services of HDFC bank? RATING/AGE <25 yr

26-30 yr

31-35 yr

>35 yr

Total

Very satisfactory

7

1

1

6

15

Satisfactory

5

3

3

2

13

Good

3

1

-

1

5

Poor

2

-

-

-

2

Total

17

5

4

9

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Calculate the hypothesis of co-relation between customers perception on banking product and age group of customer.

Calculation : 0:

There is no association between perception of customer and age : There is association between age of customer and age 𝟐

𝐻𝛼 7 5 3 2 1 3 1 0 1 3 0 0 6 2 1 0

7.29 2.14 1.71 3.86 6.31 1.86 1.46 3.34 2.43 0.71 0.57 0.43 0.97 0.27 0.23 0.51

1.29 -2.86 1.29 -1.86 -5.31 1.14 -0.46 -3.34 -1.43 2.29 -0.57 -0.43 5.03 1.71 0.27 -0.15

0.02 8.18 1.66 3.46 28.2 1.3 0.21 11.16 2.04 5.24 0.32 0.18 25.3 2.92 0.07 0.02

𝟐

0.01 3.82 0.99 089 4.46 0.7 0.14 3.34 0.84 7.38 0.56 0.41 26.08 10.06 0.30 0.03 60.07

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(𝒇𝒐 − 𝒇𝒆) 𝟐 𝒙 = 𝒇𝒆 = 60.07 𝟐

Here, 𝜶 = 𝟎. 𝟎𝟓 𝐝𝐟 = (𝐜 − 𝟏)(𝐫 − 𝟏) (4-1)(4-1) =𝟗 Tabulated=

𝑥2

16.91 Calculated= 60.07

∴ 𝑥 2 Calculated>𝑥 2 tabulated 𝐻0: = Accepted 𝐻𝛼: = Rejected Conclusion : Here is no association between perception of customer and age group due to higher value of calculate chi square.

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7) Any problem you are facing regarding HDFC bank? Issue Employee Behavior Facility Time issue Others Total

Response 5 12 13 5 35

Response Others 14%

Time issue 37%

Employee Behavior 15%

Facility 34%

Interpretation: 37% respondents has issue regarding time spend on waiting 34% has says facility is poor A5%and 14% respondent are facing problem with employees and other issues

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8) How likely you will recommended HDFC bank Services? Rating Very likely likely Somewhat Unlikely Total

Sales 11 13 8 3 35

Sales Unlikely 9% Very likely 31%

Somewhat 23%

likely 37%

Interpretation: 37% respondents are willing to suggest their friend to join GDFC bank 8% are unwilling to recommend

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9) What is your overall satisfaction rating with bank? Rating Response Very 11 satisfactory Satisfactory 13 Good 8 Poor 3 Total 35

Response Poor 9% Good 23%

Very satisfactory 31%

Satisfactory 37%

Interpretation: 37% respondent says that they are satisfy with services while 31% are very satisfy with HDFC bank’s facility 9% respondents provide poor rating

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5.0 FINDINGS Majority of customer are satisfy with HDFC bank service and prefers to use HDFC bank Majority of customers are aware of services provided by HDFC bank Majority of customers fined banking facility of HDFC bank satisfactory Majority of customers are willing to recommended HDFC bank to their friends Respondents says that they are facing issues regarding time and facility while few has some issue with employee behavior The perception of customer regarding the bank is satisfactory because majority of the customer are satisfy with the bank and they also recommend the product of the bank The more prefers extra service is Net banking and less prefers service are bill payment, ATM and mobile banking Majority of customer are satisfy with dealing of employees Main factor that attracts customers towards banks are services of bank

5.1 CONCLUSION At the end I would like to conclude that the Indian banking market is growing at an astonishing rate. HDFC bank has distribution network of 4,715 branches and 12,260 ATMs across 2,657 cities in India. the majority of customers are prefers HDFC bank but bank should target rest of customer who are not satisfied. customers are aware about bank services but bank should try to create more awareness among people. More stress should given on the advertisement and promotion activities The bank should make more effort in improving good relationship with customer The bank should enhance their service according to customer The bank should make its procedure less time consuming The bank should make effort to aware the customer about all their extra services

5.2 LIMITATION OF THE STUDY I am sure that in this project there would be few shortcomings sincere effort has been made to eliminate errors as far as possible but few would remain due to limitation of study. There are: Limited sample size The information given by respondents might be bias Some of respondent might not be interested to give correct information

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6.0 BIBLIOGRAPHY www.en.wikipedia.org www.bankbazaar.com www.hdfcbank.com www.wikihow.com www.scholar.google.co.in www.campusoxide.com www.blog.edusson.com www.marketing91.com www.quora.com www.moneyconnexion.com

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ANNEXURE(QUESTIONNAIR) NAME:

AGE:

OCCUPATION: ANNUAL INCOME: MOBILE NUMBER:

1) Since how many year you are dealing with bank?

A) Less than 1 year C) 3 to 5 year

B) 1 to 2 year D) More than 5 year

2) What kind of facility are you using @HDFC bank?

A) Saving ac C) Salary ac

B) Current ac D) Others(D-mat

3) Are you aware of other services provided by HDFC bank?

A) Yes

B) No

4) What kind of additional service would like to have? A) Mobile banking C) Net banking

B) ATM D) Bill payment

5) Are you aware of any other extra services? A) Loan C) Fixed deposit

B) Insurance D) Mutual funds

6) What is your perception regarding service of HDFC bank? A) Very satisfactory C) Good

B) Satisfactory D) Poor

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7) Any problem you are facing regarding HDFC bank? A) Employee behavior

C) Time issue

B) Facility D) Others

8) How likely you will recommended HDFC bank Services? A) Very likely C) Somewhat

B) Likely D) Unlikely

9) What is your overall satisfaction rating with bank? A) Very satisfactory C) Good

B) Satisfactory D) Poor

THANK YOU FOR SUPPORT.

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