Project On Hdfc Final Vh.docx

1. CHAPTER I 1.1

INTRODUCTION:

The report contains the organizational study done at HDFC Bank. The report title is “A STUDY OF CUSTOMER SATISFACTION REGARDIND HDFC BANKING SERVICES CANNOUGHT BRANCH AURANGABAD”. The report gives an overview of the banking Sector and company profile. And awareness of customers about different types of products and services offered by HDFC Bank. This study was conducted to find out the customer satisfaction regarding HDFC bank. The methodology adopted for the study was through a structured questionnaire, which is targeted to the different persons in Aurangabad. For this purpose sample size of 200 was taken. The data collected from the different persons was analyzed thoroughly and presented in the form of charts and tables. HDFC must advertise regularly and create brand value for its products and services. Most of its competitors like ICICI, Axis, Kotak Mahindra and nationalized banks use television advertisements to promote their products. The Indian consumer has a false perception about private banks – they feel that it would not safe.

Safety and returns are the two main reasons people invest in banks. On the whole HDFC bank is a good place to work at. Every new recruit is provided with extensive training on the products of HDFC. This training enables an advisor/sales manager to market the policies better. The company should try to create awareness about itself in India. With an improvement in the sales techniques used, a fair bit of advertising and modifications to the existing product portfolio, HDFC would be all set to capture the banking market in India as it has around the globe.

1.2

OBJECTIVES OF THE STUDY:



To know the customer satisfaction level and their perception regarding HDFC Bank.



To know the customer awareness regarding the Bank’s products.



To know the level of interest of customer regarding the different schemes of bank.



To know the preference of customer regarding the extra services.



To know the problems of customer regarding bank.

1.3

SCOPE OF THE STUDY:

A study on customer satisfaction level regarding HDFC bank is study of customer satisfaction level regarding various services provided by the HDFC bank. The HDFC bank provides various utility services to their customers. The purpose of this study is to analyze the satisfaction level of the customer towards the services providing by the HDFC bank. The research covers the customer opinion on banking services which will be helpful for further development and growth of banking venture of HDFC bank. This research focuses on the level of customer satisfaction derived from banking services of HDFC Bank in Aurangabad.

1.4

LIMITATIONS OF THE STUDY: 

Initially respondents are response very slow to survey.



Time condition is of the big limitation of the survey.



The research was carried out in a short period.



Limited sample size.



The information given by the respondent might be biased some of them might not be interested to give correct information.



Some of the respondents of the survey were unwilling to share information.

1. CHAPTER II 2.1 THEORITICAL BACKGROUND:

The Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive an ‘in principle' approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as part of the RBI's liberalization of the Indian Banking Industry in 1994. The bank was incorporated in August 1994 in the name of 'HDFC Bank Limited', with its registered office in Mumbai, India. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995.

HDFC is India’s premier housing finance company and enjoys an impeccable track record in India as well as in international markets. Since its inception in 1977, the Corporation has maintained a Consistent and healthy growth in its operations to remain the market leader in mortgages. Its outstanding loan portfolio covers well over a million dwelling units. HDFC has developed significant expertise in retail mortgage loans to different market segments and also has a large corporate client base for its housing related credit facilities. With its experience in the financial markets, a strong market reputation, large shareholder base and unique consumer franchise, HDFC was ideally positioned to promote a bank in the Indian environment.

HDFC Bank began operations in 1995 with a simple mission to be a “World Class Indian Bank.” It realized that only a single minded focus on product quality and service excellence would help us get there. Today, the Bank is proud to say that it is well on its way towards that goal.

2. CHAPTER III 3.1 RESEARCH METHODOLOGY: Research is done for collecting the information that helps to solve certain problems effectively. It is a frame work with a specific logic from the researcher to find out a reasonable solution for a problem. Research is a step by step activity which needs to be accurate and reliable. It is completed when the researcher gets proper solutions for his task. It aims at definite solutions within a particular period. It covers some challenging task such as how, when, where, who and why? Research methodology is way to solve the research problem systematically. It deals with the objective of research study, the method defining research problem, the type of hypothesis formulated, the type of data collected, method used for data collection and analysis etc… the methodology includes collection primary and secondary data. a) Research design:

A research design is basis frame work, which provides guidelines for the rest of research process. It is the map or blueprint according to which, the research is to be conducted. The research design specifies the method of study. Research design is prepared after formulating the research problem and need to be most suitable to solve the problem. b) Sample size: It refers to the number of items to be selected from the universe to constitute a sample. An optimum sample is one, which fulfills the requirement of efficiency, representative, reliability and flexibility. So the researcher selected 200 respondents as sample from the population.

c) Sampling method: Sampling technique used in the study is convenient sampling which comes under the purposive sampling which is also called non- random sampling.

d) Data collection: The collection of data is the primary step in statistical investigation. Collection of data is process of enumeration together with the proper recording of results. The success of an enquiry depends upon proper data collection. The methodology of this study involved collection of the primary data and the secondary data. e) Source of data: Data are the raw materials in which the research works. The task of data collection begins after research problem has been defined and research design chalked out. The data collection is classified as Primary data and Secondary data.  Primary data: Primary data’s are collected directly by way of using questionnaires. So it will be reliable and accurate and can easily by respondent.  Secondary data: These are data’s already collected and recorded. Here secondary data’s were collected from newspapers, other web sites, library books and also from previous project reports in related areas.

3. CHAPTER IV 4.1 DATA ANALYSIS & INTERPRETATION: 1. For how long you are part of HDFC Bank? a) Less than 6 Month b) Less than 1 year c) Less than 2 Years d) More than 2 years

Response

No. of Respondents

%age of Respondents

Less than 6 Month

40

20%

Less than 1 year

74

37%

Less than 2 Years

28

14%

More than 2 years

58

29%

Total

200

100%

40% 30% 20% 10% 0% Less than 6 Monthe Less than 1 year Less than 2 years More than 2 years

Interpretation: From the above graph it is clear that majority of the respondents are part of HDFC Bank from last one year i.e. 37%; 29% of the respondents are part of HDFC Bank from last more than 2 years; 20% respondents from 6 months and remaining 14% respondents are part of HDFC Bank for last two years.

2. What are reasons that attract you to be a customer of the bank?

a) Its image

b) Its service

c) Products

d) All of the above

Response

No. of Respondents

%age of Respondents

Image Extra Services Services All of above Total

50 50 90 10 200

25% 25% 45% 5% 100%

Image Extra Services Services All the above

Interpretation: From the above graph it is clear that majority of the respondents i.e. 45% are become part of HDFC Bank because of its services; 25% because of its image; 25% because of its extra services and rest because of all the three factors.

3. Are you aware of the different services offered by HDFC Bank?

a) Yes

b) No

Response

No. of Respondents

%age of Respondents

Yes No Total

182 18 200

91% 9% 100%

Yes NO

Interpretation: From the above graph it is clear that majority of the respondents are aware of products and services offered by HDFC Bank i.e. 91% and 9% respondents are not aware of services offered by HDFC Bank.

4. Do you know about these services of the banking industry?

a) Savings a/c

b) Fixed deposit

c) Current a/c’s

d) Demat a/c’

e) Credit card g) Mutual funds

f) Insurances h) Loans

Response

No. of Respondents

%age of Respondents

Saving a/c Fixed deposits Current a/c Demat a/c Credit cards Insurance Mutual funds Loans

200 200 106 10 50 40 32 190

100% 100% 53% 5% 25% 20% 16% 95%

120% 100% 80% 60% Series 1 40% 20% 0% Saving a/c

F/d

Current a/c Demat a/c

Credit Card

Insurance

Mutual Fund

Loan

Interpretation: From the above graph it is clear that majority of the respondents are aware of saving a/c & FD’s i.e. 100%.53% are aware about current a/c, 5% demat a/c, 25% credit card, 16% And 20% aware about insurance mutual fund and 95% are aware of loans.

5. Which of these Services are you using? a) Savings a/c

b) Fixed deposits

c) Current a/c’s

d) Demat a/c’s

e) Credit card

f) Insurances

g) Mutual funds

h) Loans

Response

No. of Respondents

%age of Respondents

Saving a/c Fixed deposits Current a/c Demat a/c Credit cards Insurance Mutual funds Loans

130 116 80 6 0 20 20 94

65% 58% 40% 3% 0% 10% 10% 47%

70% 60%

50% 40% 30%

Series 1

20% 10% 0%

Interpretation: From the above graph it is clear that majority of the respondents are using saving a/c i.e. 65%.58% are using FD’s, 40% current a/c, 3% demat a/c, 0% credit card, 10% insurance, 10% mutual fund and 47% aware about lone.

6. Which of these Services are you more interested in? a) Savings a/c

b) Fixed deposits

c) Current a/c’s

d) Demat a/c’s

e) Credit card

f) Insurances

g) Mutual funds

h) Loans

Response

No. of Respondents

%age of Respondents

Saving a/c Fixed deposits Current a/c Demat a/c Credit cards Insurance Mutual funds Loans

40 48 20 0 0 0 46 38

20% 24% 10% 0% 0% 0% 23% 19%

25% 20% 15% Series 1 10% 5% 0% Saving a/c

F/d

Demat a/c

Credit Card

Insurance

Mutual Fund

Loan

Interpretation: From the above graph it is clear that majority of the respondents are interesting in FD’s i.e. 24%,20% are interesting in saving a/c, 40% current a/c, 23% mutual fund, 19% in loans and no body is interesting in credit cards and demat a/c’s.

7. Which of the following extra service of the banks would you Like to go in for? a) Phone banking

b) ATM

c) Net banking

d) Mobile banking

Response

No. of Respondents

%age of Respondents

Phone banking ATM Net banking Bill payment Total

20 120 50 20 200

10% 60% 25% 10% 100%

70% 60% 50%

40% Series 1

30%

20% 10%

0% Phone Banking

ATM

Net Banking

Bill Payment

Interpretation: From the above graph it is clear that 5% of the respondents would like to go for phone banking, 60% for ATM’s, 10% for net banking, 25% for bills payment 10% .

8. What is your perception regarding the service of the bank? a) Good

b) Average

c) Poor

Response

No. of Respondents

%age of Respondents

Yes No

138 82

69% 41%

Yes

No

Interpretation: From the above graph it is clear that 69% of the respondents are known about the innovative services and the rest is unknown about it.

9. Are you satisfied with the dealing of the bank officials? a) Yes

b) No

Response

No. of Respondents

%age of Respondents

Phone banking ATM Net banking Bill payment Total

10 120 50 20 200

5% 60% 25% 10% 100%

70% 60% 50% 40% Series 1

30% 20% 10% 0% Phone banking

ATM

Net banking Bill payment

Interpretation: From the above graph it is clear that 5% of the respondents would like to go for phone banking, 60% for ATM’s, 10% for net banking, 25% for bills payment..

10. Any problem you are facings regarding the bank? a) Timeliness c) Customer relationship b) Infrastructure d) Other

Response

No. of Respondents

%age of Respondents

Timeliness Customer relationship Infrastructure Others Total

156 24 20 0 200

78% 12% 10% 0% 100%

80% 70% 60% 50% 40%

Series 1

30% 20% 10% 0% Timeliness

Customer relationship

Infrastructure

Other

Interpretation: From the above graph it is clear that 78% of the respondent facing the problem of timeliness, 12% customer relationship and 10% of infrastructure.

11. How will you rate the HDFC Bank in maintaining good customer relationship? a) Good

b) Average

c) Poor

Response

No. of Respondents

%age of Respondents

Good Average Poor Total

40 114 66 200

20% 57% 33% 100%

Good Average Poor

Interpretation: From the above graph it is clear that 20% of the respondents said HDFC Bank is good in maintaining customer relationship, 57% said it is average and rest 33% said it is poor in the maintenance.

12. How likely are you to recommend Bank services to a friend or colleague? a) Very unlikely b) Somewhat unlikely c) Neither likely nor unlikely d) Very likely e) Somewhat likely

Response

No. of Respondents

%age of Respondents

Very unlikely Somewhat unlikely Neither likely nor unlikely Somewhat likely Very likely Total

16 60 34 70 20 200

8% 30% 17% 35% 10% 100%

40% 35% 30% 25% 20% 15% 10% 5% 0% Very unlike;y

Somewhat Unlikely

Nither likely nor unlikely

very likely

Interpretation: From the above graph it is clear that 8% of the respondents are unlikely to recommend the products of HDFC Bank to their friends and colleagues, 30% said somewhat unlikely,17% said neither likely nor unlikely, 35% said somewhat likely and 10% said very likely.

13. What is your overall satisfaction rating with HDFC Bank ? a) Very dissatisfied b) Somewhat dissatisfied c) Nether satisfied nor dissatisfied d) Very satisfied

Response Very dissatisfied Somewhat dissatisfied Nether satisfied nor dissatisfied Very satisfied Somewhat satisfied Total

d) Somewhat satisfied

No. of Respondents

%age of Respondents

4 18 42

2% 9% 21%

96 20 100

48% 10% 100%

Sales

very dissatisifed Somewhat dissatisfied Neither satisfied Nor dissatisfied very satisfied Somewhat dissatisfied

Interpretation: From the above graph it is clear that 48% of the respondents are very satisfied with the bank, 20% are somewhat satisfied, 21% are neither satisfied nor dissatisfied, 9% are somewhat dissatisfied and 2% are very much dissatisfied with the bank.

5. CHAPTER V: 5.1 FINDINGS:

►

Majority of the customers are satisfied with HDFC Bank.

►

Majority of the customers are aware of services and extra services offered by HDFC Bank. But not all the services.

►

The majority of the customers found services of the bank are average.

►

Majority of the respondents are found the bank is average in maintaining the good customer relationship.

►

Majority of the respondent said that they are facing the problem of timeliness and rest are facing problem of customer relationship and infrastructure.

►

The perception of the majority of the customer regarding the bank is good because majority of the customers are satisfied with the bank and they also recommend the products of the bank.

►

The most preferable extra service is ATM’s and the less preferable services are bills payment, net banking and phone banking.

►

The majority of customers are more interested in FD’s, mutual funds and saving a/cs.

►

The majority of the customers are satisfied with the dealing of the officials upto some extent.

►

Main factor that attract customers towards bank is the services of the bank.

►

Services that are most used by the customer are saving a/c, FD’s, current a/c and loans.

5.1 CONCLUSIONS:

At the end I would like to conclude that The Indian banking market is growing at an astonishing rate, with Assets expected to reach US$1 trillion. HDFC bank had a network of 4,014 branches And 11,766 automated teller machines in 2,464 cities in India.. The majority of customers are satisfied. But the bank should target on the rest of the customers who are not satisfied. The customers are aware about the bank’s services but the Bank should try to create more awareness among people. HDFC Bank should lay more stress on advertisements, both in print as well as in other media for this purpose. Number of formalities should reduce, as customer feels irritated with lots of formalities and it will save the time of customer and Bank also.

5.2 BIBILIOGRAPHY Books: Agarwal, P.K.,(2009), “Consumer Behaviour”, Pragati prakashan Kothari, C.R.,(2009), “Research Methodology”, New age International publication ltd., New Delhi

Websites: www.bnknetindia/com/banking/finance http://en.wikipedia.org/wiki/bankingfinancialcompany www.hdfcbank.comwww.google.com http://www.iloveindia.com/finance/bank/private-banks/hdfc-bank.html

6. ANNEXURE Name

Age

Gender

Occupation

Address _________________________________________________________

1. For how long you are part of HDFC Bank? a) Less than 6 Months

b) Less than 1 Year

c) Less than 2 Years

d) More than 2 Years

2. What are reasons that attract you to be a customer of the bank? b) Its image c) Products

b) Its service d) All of the above

3. Are you aware of the different services offered by HDFC Bank? a) Yes

b) No

4. Do you know about these services of the banking industry? a) Savings a/c

b) Fixed deposits

c) Current a/c’s

d) Demat a/c’s

e) Credit card

f) Insurances

g) Mutual funds

h) Loans

5. Which of these products are you using? a) Savings a/c

b) Fixed deposits

c) Current a/c’s

d) Demat a/c’s

e) Credit card

f) Insurances

g) Mutual funds

h) Loans

6. Which of these products are you more interested in? a) Savings a/c

b) Fixed deposits

c) Current a/c’s

d) Demat a/c’s

e) Credit card

f) Insurances

g) Mutual funds

h) Loans

7. Which of the following extra service of the banks would you Like to go in for?

b) Phone banking

b) ATM

c) Net banking

d) Mobile banking

8. What is your perception regarding the service of the bank? b) Good

b) Average

c) Poor

9. Are you satisfied with the dealing of the bank officials? b) Yes

b) No

10. Any problem you are facings regarding the bank? c) Timeliness c) Customer relationship d) Infrastructure d) Other 11. How will you rate the HDFC Bank in maintaining good customer relationship? b) Good

b) Average

c) Poor

12. How likely are you to recommend Bank services to a friend or colleague? a) Very unlikely b) Somewhat unlikely c) Neither likely nor unlikely d) Very likely e) Somewhat likely

13. What is your overall satisfaction rating with our Bank ? a) Very dissatisfied b) Somewhat dissatisfied c) Nether satisfied nor dissatisfied d) Very satisfied

e) Somewhat satisfied