Professional Documents
Culture Documents
A Project Report On
A Project Report On
On
TO KNOW THE CUSTOMERS SATISFACTION LEVEL
AND THEIR PERCEPTION TOWARDS CURRENT ACCOUNTS
OF HDFC BANK
Submitted by:
Ankur Mittal
(Associate Professor)
Affiliated to K
ACKNOWLEDGEMENT
I would also like to thank Mr. Yoginder Kataria (Associate Professor) in P.I.E.T for his support
to carry this project and I am also thankful to Mrs. Priyanka Sehgal (HOD, Management
Studies) in P.I.E.T for her support.
Last but not the least; I would like to thank all the Department Heads who participated in the
project without which the project would have been nothing in terms of value and worth. I
sincerely hope my work would come up to the expectations of all those who are concerned and
will be of some practical help
Ankur Mittal
12211
~6~
EXECUTIVE SUMMARY
In accordance with the resource project the topic chosen identify the corporate target market
(current account) and Costumers perception of in Panipat city. In this research the beginning of
the project is the assistance of various tools, techniques and information belong to the subject.
This research has been identified that there are no dependent and in depended various which
effecting the topic and problem relatively. The problem identified the corporate target market
(current account) and
Costumers perception in Panipat city and effect a particular consumer has been described in this
research.
Hence to observe the problem related response according to the questionnaire many of the
people queered. It is close ended question asked so the respondent field for the cognizance which
is beneficial for me and company.
~7~
TABLE OF CONTENTS
Serial
Index of Contents
No.
1.
Page.
No.
Chapter- 1 Introduction
06-45
The Industry
06-09
Background
10-17
SWOT
18-19
COMPETITION INFORMATION
19-22
23-44
2.
45-48
3.
49-53
4.
Objectives
50
Research Design
50-51
Collection Of Data
51
52
Limitation
53
54-65
55
56
57
58
current account
recommendation of HDFC
~8~
Bank to others
59
60
from bank
62
5.
6.
66-81
67-68
Suggestions
69
Conclusion
70
Bibliography
71-72
~9~
7.
Annexure
73-76
~ 10 ~
Chapter - 1
Company
Introduction
~ 11 ~
INTRODUCTION
1. INTRODUCTION TO BANKING INDUSTRY
1.1 BANK
Finance is the life blood of trade, commerce and industry. Now-a-days, bank money acts as the
backbone of modern business. Development of any country mainly depends upon the banking
system.
The term bank is derived from the French word Banco which means a Bench or Money
exchange table.
A bank is a financial institution which deals with deposits and advances and other related
services. It receives money from those who want to save in the form of deposits and it lends
money to those who need it.
Oxford Dictionary defines a bank as "an establishment for custody of money, which it pays out
on customer's order."
1.1.1Features of a Bank:
1. Dealing in Money
Bank is a financial institution which deals with other people's money i.e. money given by
depositors.
2. Individual / Firm / Company
A bank may be a person, firm or a company. A banking company means a company which is in
the business of banking.
3. Acceptance of Deposit
A bank accepts money from the people in the form of deposits which are usually repayable on
demand or after the expiry of a fixed period. It gives safety to the deposits of its customers. It
also acts as a custodian of funds of its customers.
~ 12 ~
4. Giving Advances
A bank lends out money in the form of loans to those who require it for different purposes.
5. Payment and Withdrawal
A bank provides easy payment and withdrawal facility to its customers in the form of cheques
and drafts, It also brings bank money in circulation. This money is in the form of cheques, drafts,
etc.
6. Agency and Utility Services
A bank provides various banking facilities to its customers. They include general utility services
and agency services.
7. Profit and Service Orientation
A bank is a profit seeking institution having service oriented approach.
8. Connecting Link
A bank acts as a connecting link between borrowers and lenders of money. Banks collect money
from those who have surplus money and give the same to those who are in need of money.
9. Banking Business
A bank's main activity should be to do business of banking which should not be subsidiary to
any other business.
10. Name Identity
A bank should always add the word "bank" to its name to enable people to know that it is a bank
and that it is dealing in money.
~ 13 ~
Organizational Goals
HDFCs main goals are to:
a) Develop close relationships with individual households
b) Maintain its position as the premier housing finance institution in the country,
c) Transform ideas into viable and creative solutions.
d) Provide consistently high returns to shareholders.
e) To grow through diversification by leveraging off the Existing client
~ 14 ~
~ 15 ~
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 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.
PROMOTER
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, strong market reputation, large shareholder base and unique consumer
franchise, HDFC was ideally positioned to promote a bank in the Indian environment.
~ 16 ~
BUSSINESS FOCUS
HDFC Bank's mission is to be a World Class Indian Bank. The objective is to build sound
customer franchises across distinct businesses so as to be the preferred provider of banking
services for target retail and wholesale customer segments, and to achieve healthy growth in
profitability, consistent with the bank's risk appetite. The bank is committed to maintain the
highest level of ethical standards, professional integrity, corporate governance and regulatory
compliance. HDFC Bank's business philosophy is based on four core values: Operational
Excellence, Customer Focus, Product Leadership and People.
On May 23, 2008, the amalgamation of Centurion Bank of Punjab with HDFC Bank was
formally approved by Reserve Bank of India to complete the statutory and regulatory approval
process. As per the scheme of amalgamation, shareholders of CBOP received 1 share of HDFC
bank for every 29 shares of CBOP.
The merged entity will have a strong deposit base of around Rs1, 22,000 crore and net advances
of around Rs89, 000 crore. The balance sheet size of the combined entity would be over Rs1,
63,000 crore. The amalgamation added significant value to HDFC Bank in terms of increased
branch network, geographic reach, and customer base, and a bigger pool of skilled manpower.
~ 17 ~
In a milestone transaction in the Indian banking industry, Times Bank Limited (another new
private sector bank promoted by Bennett, Coleman & Co. / Times Group) was merged with
HDFC Bank Ltd., effective February 26, 2000. This was the first merger of two private banks in
the New Generation Private Sector Banks. As per the scheme of amalgamation approved by the
shareholders of both banks and the Reserve Bank of India, shareholders of Times Bank received
1 share of HDFC Bank for every 5.75 shares of Times Bank.
DISTRIBUTION NETWORK
HDFC Bank is headquartered in Mumbai. As on December 31, 2009, the Bank has a network of
1725 branches in 771 cities across India. All branches are linked on an online real-time basis.
Customers in over 500 locations are also serviced through Telephone Banking. The Bank's
expansion plans take into account the need to have a presence in all major industrial and
commercial centres, where its corporate customers are located, as well as the need to build a
strong retail customer base for both deposits and loan products. Being a clearing / settlement
bank to various leading stock exchanges, the Bank has branches in centres where the NSE / BSE
have a strong and active member base.
The Bank also has a network of 3898 ATMs across India. HDFC Bank's ATM network can be
accessed by all domestic and international Visa / MasterCard, Visa Electron / Maestro, Plus /
Cirrus and American Express Credit / Charge cardholders.
~ 18 ~
Designation
C M Vasudev
Harish Engineer
Executive Director
Renu Karnad
Director
Pandit Palande
Director
Bobby Parikh
Director
Aditya Puri
Managing Director
Paresh Sukthankar
Executive Director
Ashim Samanta
Partho Datta
Director
Anami N Roy
Director
Director
Vijay Merchant
TECHNOLOGY
HDFC Bank operates in a highly automated environment in terms of information technology and
communication systems. All the bank's branches have online connectivity, which enables the
bank to offer speedy funds transfer facilities to its customers. Multi-branch access is also
provided to retail customers through the branch network and Automated Teller Machines
(ATMs).
The Bank has made substantial efforts and investments in acquiring the best technology
available internationally, to build the infrastructure for a world class bank. In terms of core
banking software, the Corporate Banking business is supported by Flexcube, while the Retail
~ 19 ~
Banking business by Finware, both from i-flex Solutions Ltd. The systems are open, scaleable
&web-enabled.
The Bank has prioritised its engagement in technology and the internet as one of its key goals
and has already made significant progress in web-enabling its core businesses. In each of its
businesses, the Bank has succeeded in leveraging its market position, expertise and technology
to create a competitive advantage and build market share.
BUSINESS PROFILE
HDFC Bank caters to a wide range of banking services covering commercial and investment
banking on the wholesale side and transactional / branch banking on the retail side. The bank has
three key business segments:
a) Wholesale
banking
The Bank's target market is primarily large, blue chip manufacturing companies in the Indian
corporate sector and to a lesser extent, small & mid-sized corporates and agro-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 corporates 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.
b)
Treasury
Within this business, the bank has three main product areas - Foreign Exchange and Derivatives,
Local Currency Money Market & Debt Securities, and Equities. With the liberalization of the
~ 20 ~
financial markets in India, corporates need more sophisticated risk management information,
advice and product structures. These and fine 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.
c)
Retail
Banking
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
customers through the growing branch network, as well as through alternative delivery channels
like ATMs, Phone Banking, NetBanking and Mobile Banking.
Increase our market share in Indias expanding banking and financial services industry by
following a disciplined growth strategy focusing on quality and not on quantity and delivering
~ 21 ~
~ 22 ~
Mutual Funds
Insurance
Bonds
Financial Planning
Current Account
Knowledge Centre
D) Payment Services
Net Safe
Prepaid Refill
Bill Pay
B) Loans
Direct Pay
Personal Loans
Home Loans
ATM
Instar Alerts
Phone Banking
Mobile Banking
2) WHOLESALE BANKING SERVICES
Funded Services
Tax Collection
Financial Institutions
Internet Banking
Mutual Funds
Clearing Sub-Membership
Stock Brokers
Insurance Companies
Fund Transfer
Commodities Business
ATM Tie-ups
Trusts
Bill Pay
Insta Pay
Direct Pay
Visa Money
Online Donation
Page | 24
SWOT
1.2.4 SWOT ANALYSIS
STRENGTH:
1) Right strategy for the right products.
2) Superior customer service vs. competitors.
3) Great brand image.
4) High degree of customer satisfaction.
WEAKNESSES:
1) Some gaps in range for certain sectors.
2) Customer service staff needs training.
3) Sectorial growth is constrained by low unemployment levels and competition for staff.
OPPORTUNITIES:
1) Profit margins will be good.
2) Could extend to overseas broadly.
3) Could seek better customer deal.
4) An applied research center to create opportunities for developing techniques to provide valueadded services.
THREATS:
1) Legislation could impact.
2) Great risk involved.
3) Very high competition prevailing in the market.
3) Kotak Mahindra.
The Kotak Mahindra group is a financial organization established in 1985 in India. It was
previously known as the Kotak Mahindra Finance Limited, a non-banking financial company. In
February 2003, Kotak Mahindra Finance Ltd was given the license to carry on banking business
by the Reserve Bank of India (RBI). Kotak Mahindra Finance Ltd. is the first company in the
Indian banking history to convert to a bank. Today it has more than 20,000 employees and Rs.
10,000 crore in revenue.
State Bank of India (SBI) (is the largest Indian banking and financial services company (by
turnover and total assets) with its headquarters in Mumbai, India. It is state-owned. SBI provides
a range of banking products through its vast network of branches in India and overseas, including
products aimed at non-resident Indians (NRIs). The State Bank Group, with over 16,000
branches, has the largest banking branch network in India. SBI has 14 Local Head Offices and 57
Zonal Offices that are located at important cities throughout the country. It also has around 130
branches overseas.
6) IndusInd Bank
IndusInd Bank, which commenced operations in 1994, caters to the needs of both consumer and
corporate customers. Its technology platform supports multi-channel delivery capabilities. As on
June 30, 2013, IndusInd Bank had 530 branches, and 1003 ATMs spread across 380 geographical
locations of the country. The Bank also has representative offices in London and Dubai. The
Bank believes in driving its business through technology. It enjoys clearing bank status for both
major stock exchanges - BSE and NSE - and major commodity exchanges in the country,
including MCX, NCDEX, and NMCE. IndusInd Bank on April 1, 2013 was included in the
NIFTY 50 benchmark index. IndusInd Bank also offers DP facilities for stock and commodity
segments.
7) ING Vysya
ING Vysya Bank Ltd is a global financial institution of Dutch origin offering banking,
investments, life insurance and retirement services. More than 84,000 ING employees server
over 61 million private, corporate and institutional customers in over 40 countries in Europe,
North America, Latin America, Asia and Australia. We draw on our experience and expertise, our
commitment to excellent service and our global scale to meet the needs of a broad customer
base, comprising individuals, families, small, businesses, large corporations, institutions and
governments.
8) J&K
J&K Bank functions as a universal bank in Jammu & Kashmir and as a specialised bank in the
rest of the country. It is also the only private sector bank designated as RBIs agent for banking
business, and carries out the banking business of the Central Government, besides collecting
central taxes for CBDT. The J&K Bank is rated P1, indicating the highest degree of safety by
Standard & Poor and CRISIL. J&K Bank operates on the principle of 'socially empowering
banking' and seeks to deliver innovative financial solutions for household, small and medium
enterprises.
inter-city
banking :
1) Free anywhere collection & payment within HDFC Bank branch network (except Dahej), up to
2)
3)
4)
5)
Rs.15 lacs per month, incremental amount to be charged @ Rs.1.50 per Rs.1, 000/-, min Rs.25/Free NEFT Transactions
Free RTGS collection. RTGS payment @ Rs.25/- per transaction.
Free Inter-city Account to accounts funds transfer between HDFC Bank accounts.
Free anywhere collection & payment within HDFC Bank branch network (except Dahej), up to
Rs.15 lacs per month, incremental amount to be charged @ Rs.1.50 per Rs.1,000/-, min Rs.25/6) Free NEFT Transactions
7) Free RTGS collection. RTGS payment @ Rs.25/- per transaction. Free anywhere collection &
payment within HDFC Bank branch network (except Dahej), up to Rs.15 lacs per month,
incremental amount to be charged @ Rs.1.50 per Rs.1, 000/-, min Rs.25/8) Free NEFT Transactions
9) Free anywhere collection & payment within HDFC Bank branch network (except Dahej), up to
Rs.15 lacs per month, incremental amount to be charged @ Rs.1.50 per Rs.1, 000/-, min Rs.25/10) Free NEFT Transactions
11) Free RTGS collection. RTGS payment @ Rs.25/- per transaction.
12) Free Inter-city Account to accounts funds transfer between HDFC Bank accounts.
13) Free Demand Drafts (DD) above Rs.100,000/-. Demand drafts up to Rs.50, 000/- at flat cost of
Rs.40/-. DDs above Rs.50, 000/- & up to Rs.100, 000/- at nominal cost of Rs.25/- and can be
issued from any HDFC Bank Branch
14) Free Pay Order (PO) above Rs.100, 000/-. Pay Order up to Rs.50, 000/- at flat cost of Rs.40/-.
POs above Rs.50, 000/- & up to Rs.100, 000/- at nominal cost of Rs.25/- and can be issued from
any HDFC Bank Branch.
15) 100 "At Par" cheque leaves free per month
16) Register for Insta Alert service and receive updates on your account as and when the select
transaction happens - all this without visiting the branch or ATM!
17) HDFC Bank offers you Doorstep Banking*, a channel, which is convenient, secure and hasslefree. Now, you can enjoy the benefits of banking right at your doorstep. The Bank will arrange to
render the services like Cash & Cheque Pickup and Cash Delivery, through a reputed agency
18) Enjoy facilities like 24-hour Phone Banking, Net Banking and Mobile Banking to access your
account.
branch, to free account to account funds transfer between HDFC Bank accounts, to free inter-city
cheque collection (through clearing) of up to Rs. 35 lakhs per month, our priority services have
become the benchmark for banking efficiency. Trade Current Account requires you to maintain
an average quarterly balance of Rs. 40,000.
1)
2)
3)
4)
5)
6)
3) Free Cash Withdrawal from Home Branch. Free Cash Withdrawal of up to Rs. 75 lac per
month from Non Home Branches
4) 1500 free cheque per month
5) 2000 free bulk transactions per month
6) Unlimited free local / anywhere cheque collections and payments (through both Clearing
& Funds Transfer)
7) Unlimited Free RTGS / NEFT Collections and Payments
8) Unlimited Free DD / MC; Free Correspondent Bank DD of up to Rs. 30 lac per month
9) Free Outstation Cheque Collection at Bank Location / Speed Clearing Transactions
10) Free Debit Cards (all variants) / ATM Card / Bill Pay / Insta Alert; 5 free ATM
withdrawals from non HDFC Bank ATMs per month
11) Bank conveniently with facilities like Net Banking, Phone banking and Mobile Banking
check your account balance, pay utility bills or stop cheque payments all via SMS.
12) Doorstep Banking* - a channel that is convenient, secure and hassle-free. We will arrange
to render services like cash and cheque pick-ups and cash deliveries, through a reputed
agency.
8) Free RTGS (Real Time Gross Settlement) and NEFT (National Electronic Fund Transfer)
collections.
9) Convenient cash withdrawals and deposits at all our branches*
10) Free InstaAlert registration for updates on your account as and when transactions happen.
No need to visit a branch or ATM
11) Doorstep Banking* - a channel that is convenient, secure and hassle-free. We will arrange
to render services like cash and cheque pick-ups and cash deliveries, through a reputed
agency.
12) Bank conveniently with facilities like Net Banking, Phone banking and Mobile Banking
check your account balance, pay utility bills or stop cheque payments all via SMS.
13) Register for InstaAlert and receive updates on your account whenever transactions take
place.
14) Doorstep Banking* for your convenience and security. We will pick-up and deliver cash
and cheques through a reputed agency.
5)
6)
7)
8)
1) Agri Current Account offers those involved in Trading of agricultural commodities, the
benefit of Half Yearly Average Balance Requirement of Rs. 10000/-. As such, you need
not bother about AQB charges in non-business months.
2) Free unlimited cash withdrawals from Home Branch.
3) 50 free Payableatpar cheque leaves per month.
4) Free Cash Deposits up to Rs.10 lacs per month across all branches in your home city*.
5) Free account to account funds transfers within HDFC bank.
6) Free Local cheque collections and payments.
7) Free payments and collections through NEFT.
8) Free RTGS collections. RTGS payments @ Rs. 25 per transaction.
9) Free payments (clearing transactions) at all HDFC bank locations.
10) Free issuance of Pay Orders(PO)/Demand Drafts(DD) for instruments above the value of
Rs.50,000/- on any HDFC Bank Locations
11) Doorstep Banking* - a channel that is convenient, secure and hassle-free. We will arrange
to render the services like Cash & Cheque Pick-ups and Cash Deliveries, through a
reputed agency.
12) Free 24-hour Phone Banking, Net Banking and Mobile Banking so you can check your
balance and transaction details, find out the status of your cheques or stop cheque
payments.
13) InstaAlerts registration to get updates on your account as and when transactions happen.
No need to visit a branch or ATM.
5) Enjoy special privileges with Doorstep Banking services like cash and cheque pick-ups
6)
7)
8)
9)
email.
10) Average Minimum Balance requirement is Rs.1, 00,000 per month. Non maintenance
charges for the minimum balance is Rs. 1,000/- per month
11) Bank conveniently with facilities like Net Banking, Phone banking and Mobile Banking
check your account balance, pay utility bills or stop cheque payments all via SMS.
8) Use InstaAlerts and get free balance and transaction alerts on your mobile phone and
email.
9) Average Minimum Balance requirement is Rs.25, 000 per month. Non maintenance
charges for the minimum balance is Rs. 300/- per month.
10) Bank conveniently with facilities like Net Banking, Phone banking and Mobile Banking
check your account balance, pay utility bills or stop cheque payments all via SMS.
70,00,000
(35
times
AMB)
Free RTGS/NEFT Transactions.
40 free Demand Drafts and 40 free Pay Orders issued from any HDFC Bank branch*
Convenience to withdraw and deposit cash at all HDFC Bank branches*.
Competitive pricing on Demand Drafts drawn on Correspondent Banking Locations and
Outstation Cheque Collection at HDFC Bank Locations
13) Doorstep Banking* - a channel that is convenient, secure and hassle-free. We will arrange
to render services like Cash & Cheque pick-ups and Cash Deliveries, through a reputed
agency.
1 . 3 I n t rod u c t i o n t o c u s t o me r s a t i s f a c t i o n
Customer satisfaction is essential for the survival of any business. The best way to find out
whether customers are satisfied or not is to ask them their opinions about your products and
services, what's most important to them, and then make improvements to those areas that have
the biggest impact on their satisfaction.
Customer satisfaction, however, is when the customer is satisfied with aproduct/service that
meets the customers needs, wants, and expectations.
The level of satisfaction is determined not only by the quality and type of customer
experience but also by the customers expectations. A customer may be defined as someone who
Has a direct relationship with, or is directly affected by your agency and
Receives or relies on one or more of your agencys services or products.
The ultimate aim of measuring customer satisfaction must be to act on the information gathered,
close the gaps between the customers perception of service and the actual service provided.
An organization with a strong customer serviceculture places the customer at the centre of
service design, planning and service delivery.Customer centric organizations will:
Determine the customers expectations when they plan listen to the customer
asthey design.
Focus on the delivery of customer service activities value customer feedback whenthey
measure performance.
How well are the products and services able to meetcustomer needs and expectations?
How well is the business process working?
Where to make the changes to improve the performance of product or process?
What is the effect of the changes made for improvements?
Personal sources
Commercial sources
Public sources
Personal experiences
The relevant internal psychological process that is associated with information search is
perception. Perception is defined as the process by which an individual receives, selects,
organizes, and interprets information to create a meaningful picture of the world.
Selective exposure consumers select which promotional messages they will expose themselves
to.
Selective attention consumers select which promotional messages they will pay attention to
Selective comprehension consumer interpret messages in line with their beliefs, attitudes,
Purchase decision
Once the alternatives have been evaluated, the consumer is ready to make a purchase decision.
Sometimes purchase intention doesnt result in an actual purchase. The marketing organization
must facilitate the consumer to act on their purchase intention. The organization can use variety
of technique to achieve this. The provision of credit or payment terms may encourage purchase,
or a sales promotion such as the opportunity to receive a premium or enter a competition may
provide an incentive to buy now. The relevant internal psychological process that is associated
with purchase decision is integration. Once the integration achieved, the organization can
influence the purchase decisions much more easily.
Internal influences
Consumer behavior is influenced by demographics, psychographics, personality, motivation,
knowledge, attitudes, beliefs and feelings. Consumer behavior concern with consumer need
consumer actions in the direction of satisfying needs leads to his behavior of every individual
depend on thinking.
External influences
Consumer behavior is influenced by: culture, sub-culture, locality, royalty, ethnicity, family,
social class, reference groups, lifestyle, sex and all.
Chapter 2
LITERATURE
REVIEW
customer satisfaction and performance. ( Goitom Tesfom, Nancy J. Birch Journal of Services
5 2011)
This research investigated the relationship between three elements core service quality,
relational service quality- and perceived value and customer satisfaction and future intentions
across four services. The results revealed that core service quality (the promise) and perceived
value were the most important drivers of customer satisfaction with relational service quality (the
delivery) a significant but less important driver. A direct link between customer satisfaction and
future intentions was established. The relative importance of the three drivers of satisfaction
varied among services. Specifically, the importance of core service quality and perceived value
was reversed depending on the service. A major conclusion was that both perceived value and
service quality dimensions should be incorporated into customer satisfaction models to provide a
more complete picture of the drivers of satisfaction. (Gordon H.G. McDougall, (Professor of
Marketing, School of Business and Economics, Wilfred Laurier University, Waterloo,
Ontario, Canada), Terrence Levesque, (Professor of Economics, School of Business and
Economics, Wilfrid Laurier University, Waterloo, Ontario, Canada)
Chapter 2
RESEARCH
METHODOLOGY
RESEARCH METHODOLOGY
3.1 OBJECTIVES OF THE STUDY
Main objective:
To know the customers satisfaction level and their perception towards of HDFC Bank
services.
Sub objectives:
To know that whether the customer is getting prompt services from the bank or not.
To know the level of interest of customer towards differentproducts of current account.
To know the reasons that attracts the customers to be a part of the bank.
To know the customer awareness regarding the Banks extra services.
RESEARCH DESIGN
A framework or blueprint for conducting the research project. It specifies the details of the
procedures necessary for obtaining the information needed to structure and/or solve research
problems.
Define the information needed.
Design the research.
Specify the measurement and scaling procedures.
Construct and present a questionnaire or an appropriate form for data collection.
3.3 Data Collection: The data are collected by the primary and secondary sources both to know the customers
satisfaction level towards Current Account of HDFC Bank.
a) Primary sources:The primary sources are those through which data can be collected by first hand. The data
has been collected directly from respondents with the help of questionnaires and analysis was
done on the basis of response received from the customers.The questionnaire has been
designed in such a manner that the consumers satisfaction level can be measured easily.
SECONDARY DATA:Secondary data means data that are already available i.e. they refer the data which have already
been collected and analyzed by someone else. When the researcher utilizes secondary data, than
he has to look into various sources from where he can obtain them, in this case he is certainly not
confronted with the problems that are usually associated with the collection of original data.
Secondary data may either be published data or unpublished data. Usually published data are
available in:
The main source of information for the project was
Weekly magazine;
Internet
Newspapers
RESEARCH PERIOD
Research work is done in 6 weeks from 08 June to 08 July 2013.
AREA OF STUDY
The area of survey is Panipat City.
SAMPLE SIZE
The sample of 100 persons was taken on the basis of convenience.
LIMITATIONS
All efforts have been made to present a true picture of the satisfaction level of customers towards current
account of hdfc bank, but there are certain limitations to be kept in mind while going through the report.
1) SAMPLE SIZE:The size of samples greatly affects the survey results, but the size may not be substantial, may be
too short for the conduct of survey in market.
2) TIME:Time constraints were a great barrier as the work was to be completed in a given time period.
3) INFORMATION MAY BE BIASED:Respondents answer may be biased; it may be influenced by other factors such as
advertisements, brand ambassador, family members, relatives etc.
4) LIMITED AREA OF STUDY:The area of study is also greatly affecting the study done;this study is done in limited area
only in Panipat city.
Chapter 4
Data Analysis
And
Interpretation
Data Analysis
Q. 1 CUSTOMER PROFILE OF SURVEYED RESPONDENTS
Table 4.1 Customer Profiles of Surveyed Respondents.
Feedback
No. of Respondents
Percentage
of
Respondents(N=100)
Business
92
92%
Profession
8%
Services
0%
Total
100
100%
Percentage of Respondents
92%
100%
80%
Percentage of
Respondents
60%
40%
20%
8%
0%
0%
Business
Profession
Service
Feedback
No. of Respondents
Percentage
of
Respondents (N=100)
Less Than 6 Months
20
20%
37
37%
14
14%
29
29%
Total
100
100%
Percentage of respondents
29%
20%
14%
37%
Q. 3.
THE BANK?
Table 4.3
Feedback
No. of Respondents
Percentage
Respondents (N=100)
Its Image
40
40%
Its Services
30
30%
Its Product
20
20%
All Above
10
10%
Total
100
100%
Percentage of respondents
50%
40%
30%
20%
10%
0%
0.5
1.5
2.5
3.5
4.5
of
The above diagram shows that 40% respondents were attracted to the bank because of its image,
30% were attracted because of its services, 20% were attracted because of its products, and 10%
were attracted because of all three reasons.
Q.4. ARE YOU SATISFIED WITH THE FEATURES AND BENEFITS OF THE
PRODUCTS OF CURRENT ACCOUNT?
Table 4.4
Feedback
No. of Respondents
Percentage
Respondents (N=100)
Strongly Agree
22
22%
Agree
47
47%
Neutral
29
29%
Disagree
2%
Strongly Disagree
0%
Total
100
100%
Percentage of respondents
50%
40%
30%
20%
10%
0%
47%
22%
29%
2%
0%
Percentage Of
Respondents
of
INTERPRETATION:
From the above analysis it is concluded that 22% respondents were strongly agree with the
statement , 47% respondents only agree with the statement, 29% respondents were neutral, 2%
respondents were disagree but no respondent was strongly disagree with the above statement.
No. of Respondents
Percentage
of
Respondents(N=100)
Regular
Current 25
25%
Current 46
46%
Account
Premium
Account
Trade Current Account
15
15%
14
14%
Total
100
100%
Percentage of Respondents
50%
40%
30%
20%
10%
0%
25%
46%
15%
14%
Percentage Of
Respondents
INTERPRETATION:
From the above analysis it is concluded that most of the respondents preferred Premium Current
Account, 25% respondents preferred Regular Current Account, 15% respondents preferred Trade
Current Account and 14% respondents preferred Plus Current Account.
No. of Respondents
Percentage
Respondents(N=100)
Definitely
48
48%
Probably
22
22%
27
27%
Probably Not
3%
Definitely Not
0%
Total
100
100%
of
Percentage of Respondents
48%
50%
40%
30%
20%
10%
0%
22% 27%
3%
0%
Percentage Of
Respondents
Ques 7.
Table 4.7
Feedback
No. of Respondents
Percentage
Respondents(N=100)
Yes
100
100%
No
0%
Total
100
100%
of
Percentage of Respondents
Yes
No
Figure 4.7 Knowledge about extra services being provided by the bank.
INTERPRETATION:
From the above analysis it is concluded that all respondents know about extra services being
provided by the bank.
Q 8. Which of the following extra services of the bank would you like to go in
for?
Table 4.8
Feedback
No. of Respondents
Percentage
Respondents(N=100)
Phone Banking
5%
ATM
40
40%
Net Banking
5%
Bill Payment
10
10%
of
All Above
40
40%
Total
100
100%
Percentage of Respondents
40%
40%
30%
20%
10%
0%
5%
40%
5%
10%
Percentage Of
Respondents
Ques 9.
Do you always get prompt services whenever you visit the branch?
Table 4.9
Feedback
No. of Respondents
Percentage
Respondents(N=100)
Always
30
30%
Often
34
34%
Sometimes
27
27%
of
Rarely
7%
Never
2%
Total
100
100%
Percentage of Respondents
40%
30%
Always
34%
Often
27%
Sometimes
30%
Rarely
20%
7%
10%
2%
Never
0%
No. Of Respondents
Figure 4.9
INTERPRETATION:
From the above analysis it is concluded that 30% respondents always get prompt services
whenever they visit the branch, 34% respondents often get prompt services and 27% respondents
get sometimes prompt services and 7% get rarely prompt services whenever they visit the branch
and 2% respondents never get prompt services whenever they visit the branch.
Ques10. If another bank provides you same facilities, would you like to switch
to other bank?
Table 4.10
Feedback
No. of Respondents
Percentage of
Respondents(N=100)
No, Not At All
48
48%
I May Consider
22
22%
Yes, Surely
2%
Cant Say
28
28%
Total
100
100%
Percentage of Respondents
48%
50%
40%
30%
20%
10%
0%
28%
22%
2%
Percentage Of
Respondents
Figure 4.10
INTERPRETATION:
According to the above analysis, it is concluded that most of the respondents would not like to
switch to other bank and 2% respondents would surely switch to other bank and 28%
respondents cant say anything but 22% respondents may consider other bank.
of
Respondents(N=100)
Very Dissatisfied
0%
Somewhat Dissatisfied
2%
Neutral
29
29%
Somewhat Satisfied
47
47%
Very Satisfied
22
22%
Total
100
100%
Percentage of Respondents
50%
40%
30%
20%
10%
0%
47%
22%
Percentage Of
Respondents
2%
0%
29%
Figure 4.11
INTERPRETATION:
The above diagram shows that no respondent is very dissatisfied with HDFC Bank, only 2%
respondent is somewhat dissatisfied with the bank, 29% respondents were neutral and 47%
respondents were somewhat satisfied and 22% respondents were very satisfied with the HDFC
Bank.
Chapter 5
Finding
Suggestion
Conclusion
FINDING & LEARNING
1) It is concluded that out of sample of 100 people, 92% respondents were businessman, 8%
respondents were having profession and 0% respondents were serviceman.
2) It is concluded that 20% respondents were a part of bank for less than 6 months, 37%
respondents were a part of bank for less than 1 year, 14% respondents were a part of bank for
less than 2 years and 29% respondents were a part of bank for more than 2 years.
3) It is concluded that 40% respondents were attracted to the bank because of its image, 30%
were attracted because of its services, 20% were attracted because of its products, and 10% were
attracted because of all three reasons.
4) It is concluded that 84% respondents were satisfied with benefits and features of current
account and 16% respondents was not satisfied with benefits and features of current account of
the HDFC Bank.
5) It is concluded that most of the respondents preferred Premium Current Account, 25%
respondents preferred Regular Current Account, 15% respondents preferred Trade Current
Account and 14% respondents preferred Plus Current Account.
6) It is concluded out of given sample of 100 respondents, 48% respondents will definitely
recommend product to others, 22% respondents will probably recommend product to others,
27% respondents will might or might not recommend, 3% respondents will probably not
recommend, but no respondent will definitely not recommend product to others.
7) It is concluded that all respondents know about extra services being provided by the bank.
8) It is concluded that out of given sample of 100 respondents , 40% respondents use ATM
services , 5% respondents use Phone banking , 5% respondents use Net Banking, 10%
respondents use Bill Payment and 40% respondents use all services.
9) It is concluded that 30% respondents always get prompt services whenever they visit the
branch, 34% respondents often get prompt services and 27% respondents get sometimes prompt
services and 7% get rarely prompt services whenever they visit the branch and 2% respondents
never get prompt services whenever they visit the branch.
10) It is concluded that most of the respondents (48%) would not like to switch to other bank and
2% respondents would surely switch to other bank and 28% respondents cant say anything but
22% respondents may consider other bank.
11) It is concluded that no respondent is very dissatisfied with HDFC Bank, only 2% respondent
is somewhat dissatisfied with the bank, 29% respondents were neutral and 47% respondents were
somewhat satisfied and 22% respondents were very satisfied with the HDFC Bank.
OTHER FINDINGS:
1)
2)
3)
4)
Out of 100 respondents, most of the respondents were a part of the bank for less than 1 year.
Most of the respondents were attracted to the bank because of its image.
Most of the respondents were agree that HDFC Bank is providing 100% satisfaction.
Only 84% respondents were satisfied with benefits and features of current account of the HDFC
Bank.
5) Most of the respondents preferred Premium Current Account.
6) 56 respondents were using other bank account than HDFC Bank and 44 respondents were not
using other bank account than HDFC Bank.
7) All customers are aware of extra services offered by HDFC Bank.
8) Most of the respondents are go in for ATM services
9) It is concluded that most of the respondents would not like to switch to other bank.
10) Most of the respondents will definitely recommend product to others.
SUGGESTIONS
1. Bank should try to retain the loyal customers.
2. Bank should try to attract customers by its services and products
3. Bank should try to change the perception of the customers in a positive way that it provides
100% satisfaction to its customers.
4. The bank should enhance their services according to the needs of the customer so that they can
5.
6.
7.
8.
CONCLUSION
5.2.1 CONSUMER RESEARCH:
Consumer research deals with consumer and their problem and solution to the problem. This
study helps to know about the consumers need and expectation levels regarding products and
ascertainable levels of consumer satisfaction.
BIBLIOGRAPHY
BOOKS:
Kotler, P., Marketing Management, South Asian Perspective 12th Edition, 2007, Dorling
Kindersley (India) Pvt. Ltd., New Delhi Pp-45-57.
Icmr, Marketing Management Ifcai University, 2004, Banjara Hills, Hyderabad.
Philip Kotler, Marketing Management, 11th Ed, Princeton-Hall India 2003
Marketing Research-Naresh .K.Malhotra
Marketing Management
ICMR Publication
ICMR Publication
Marketing
Management
V.S.
Ramaswamy,
Research
Operation Research Vittal
Magazine:
Business Today
Business World
WEBSITES:
1.
2.
3.
4.
5.
6.
www.hdfcbank.com
www.scribed.com`
www.google.co.in
www.hdfcbank.com/personal/prd_glance.htm
http://en.wikipedia.org/wiki/Yes_Bank
http://en.wikipedia.org/wiki/State_Bank_of_India
7. http://en.wikipedia.org/wiki/Kotak_Mahindra_Bank
8. http://en.wikipedia.org/wiki/Axis_Bank
9. http://en.wikipedia.org/wiki/ICICI_Bank
10. http://www.hdfcbank.com/personal/accounts/current_accounts/plus_current_account/plus
_acc.htm
11. http://www.hdfcbank.com/personal/accounts/current_accounts/trade_current_account/tra
de_acc.htm
12. http://www.hdfcbank.com/personal/accounts/current_accounts/premium_current_account
/premium_acc.htm
13. http://www.hdfcbank.com/personal/accounts/current_accounts/regular_current_account/r
egularcc_acc.htm
QUESTIONNAIRE
PERSONAL INFORMATION:NAME
:-
CONTACT NUMBER
:-
ADDRESS
:-
OCCUPATION
:-
1) Business
2) Profession
3) Service
Ques 3. What are the reasons that attract you to be a customer of the bank?
Its Image
Its Services
Its Products
All Above
Ques4. Are you satisfied with the features and benefits of the products of current account?
Yes
No
Yes
No
Ques8. Which of the following extra services of the bank would you like to go in for?
Phone Banking
ATM
Net Banking
Bill Payment
All Above
Ques9.
Do you always get prompt services whenever you visit the branch?
Always
Often
Sometimes
Rarely
Never
Ques10. If another bank provides you same facilities, would you like to switch to other bank?
No, not at all
I may consider
Yes, surely
Cant say
Very Dissatisfied
Somewhat Dissatisfied
Neutral
Somewhat Satisfied
Very Satisfied