Crtical Anaylsis Of Retail Banking Of Induslnd Bank

Introduduction
IndusInd Bank Limited is a Mumbai based Indian new generation bank, established in 1994. The
bank offers commercial, transactional and electronic banking products and services. IndusInd
Bank was inaugurated in April 1994 by then Union Finance Minister Manmohan Singh. Indusind
Bank is the first among the new-generation private banks in India.

The bank started its operations with a capital amount of Rs. 1 billion among which Rs. 600
million was raised by the Indian Residents and Rs. 400 million was raised by the Non-Resident
Indians. The bank has specialized in retail banking services and continuously upgrades its
support systems by introducing newer technologies. It is also working on expanding its network
of branches all across the country along with meeting the global benchmark. According to the
bank, its name is derived from the Indus Valley Civilisation.

As on 31 December 2018, IndusInd Bank has 1,558 branches, and 2453 ATMs spread across in
different geographical locations of the country.[8] It also has representative offices in London,
Dubai and Abu Dhabi. . Mumbai has the maximum number of bank branches followed by New
Delhi and Chennai.The bank has also proposed to double the branches count to 1200 by March
2019.

The bank began its operations on 17 April 1994 under the chairmanship of S.P. Hinduja with the
primary objective of serving the NRI community.

1 .Saving account
IndusInd Bank understands its customers and their diverse banking needs. They are always dedicated to
offer their customers with products that provide them with convenient banking experience. With
Privilege Active Savings Account, IndusInd Bank has introduced an all new way of banking which rewards
you for being active on your payments and balance transfers. Privilege Active Savings Account can only
be opened through online channel. Based on your monthly spend and other transactions, you can get
this savings account without any strings attached or without worrying about maintaining balance. So, for
being active you can be rewarded with a zero balance facility along with several other unmatched
privileges and benefits.

2.Current Account
IndusInd Bank offers various types of current account to its customers to cater to the financial needs of
regular businesses, large corporates, importers, and exporters

3.Personal loan
 Loan amount: The loan amount of IndusInd Bank personal loan goes up to Rs.
10 lakh

 Easy documentation process: With a effortless and trouble free documentation, Induslnd
personal loan is customer-friendly and saves a lot of time

 Flexible tenure: IndusInd Personal Loan tenure ranges from 12 to 60 months. You can choose
the loan tenure that suits you the best

 Balance transfer facility: The bank offers ‘Balance Transfer Option‘ that is you can transfer your
existing personal loan from other lender to IndusInd and can avail lower interest rates

4.Recurring Deposit
IndusInd Bank Recurring Deposit comes with tenure ranging from 12 to 120 months and a minimum
deposit of Rs. 500. Account holders can also avail premature withdrawal and nomination facilities.
 Objectives
 Mission
We will consistently add value to all our stakeholders and emerge as the ‘best-in-class’ in the
chosen parameters amongst the comity of banks, by doubling our profits, clients and branches
within the next three years

 Vision
IndusInd Bank (we) will be:
 A relevant business and banking partner to our clients
 Customer Responsive, striving at all times to collaborate with clients in providing solutions for their
banking needs
 A forerunner in the market place in terms of profitability, productivity and efficiency
 Engaged with all our stakeholders and will deliver sustainable and compliant returns

 Brand
IndusInd Bank stands tall today as one of the reputed banking brands in the country. The bank
has been continuously investing in various advertising & marketing programs to enhance the
brand image & recall. In an endeavor to emerge as best-in-class brand, IndusInd Bank has made
'Responsive Innovation' as a central theme of its brand building program. The Bank has
combined responsiveness with innovation to launch a wide range of banking products and
services which are unique, convenient and very relevant to Indian consumer.

In the recent past, the Bank has launched a host of innovative services like My Account My
Number, Choice Money ATMs, Check-on-Cheque, Cash-on-Mobile, Direct Connect, Quick
Redeem Service and 365 Days Banking. All these unique services have been widely publicized
and have been well appreciated by the customers. Recently, the bank launched yet another
innovative service called 'Video Branch', which enables the customers to do video conference
with the bank staff. This is first-of- its kind initiative in the banking industry which facilitates
customers to interact with the Video Branch at their own convenience either from
desktop/laptop computers or Apple and Android smart phones. This facility is available to all
existing and new customers of the Bank. The bank has launched various media campaigns
around the innovative services which has helped the brand connect better with the customers,
enhance its visibility quotient and reinforce the brand statement 'You desire, We Deliver' across
the audience.
All the advertisement campaigns have been developed using interesting and strong consumer
insights and executed with lively, humorous & relatable situations with a clear cut objective of
breaking the clutter and creating impactful communication. These unique propositions are
always communicated by a 360 degree integrated marketing approach to propagate the service
message more effectively. TV Advertising, Print Ads, Out-of-Home, Radio, Digital and Cinema
are strategically blended in a media mix in order to get maximum mindshare of the Indian
Audience.

Brand Awards

IndusInd Bank is ranked 19th amongst the Top 50 Most Valuable Indian Brands 2014 as per the
BrandZ Top 50 rankings powered by the WPP and Millward Brown. Also, the Bank has bagged
the 39th rank in The Economic Times and Interbrand Best Indian Brands Study – 2014.


LITERATURE REVIEW
The study conducted by Azad (2014) “Managing Stress among Banking Sector Employees in Bhopal” is
focused on managing stress on employees of banking sector. The purpose of the study is to explore the
stress related problems and suggest measure to overcome stress among employees of banking sector.
The results showed that employees face high level of stress due to both organizational and personal
reasons.Worklife imbalance is the main reason for stress among the employees of banking sector due to
long working hours and work overload. The best practice found to overcome stress is meditation. The
study also showed the implications of stress on employee and organization The study conducted by
Karunanithy & Ponnampalam (2013) on “A study on the effect of Stress on performance of employees in
Commercial Bank of Ceylon in the Eastern Province” has explained that employees feel if they are stress
free they can perform better and can take better decision. The primary objective of the study is to
understand the relationship between stress and job performance. The main aim of the study is to
identify the impact o f job related stress, organizational stress and individual stress on employee job
performance. The study somehow links stress with absenteeism, employee turnover and industrial
accidents. The author concluded in his study that there is negative relationship between stress and
employee job performance. Belapurkar & Jain in their study “Impact of Job Stress on Job Satisfaction of
Employees Working in Banking Sector” explored the relationship between job stress and job satisfaction.
The objective of the study is to identify the impact of stress on job satisfaction in banking sector. The
study concluded that there is relationship between stress and job satisfaction. The author also discussed
that there were less employees who were dissatisfied with their job due to stress level as the
organization is organizing programs to overcome stress and sessions related to managing stress. The
study conducted by Ayyappan & SakthiVadivel (2013) on “The Impacts of Occupational Stress of
Selected Banking Sector Employees in Tamilnadu” defined that there is no such stress free job.
Employees working in banking sector face high level of stress due to direct contact with customer. The
main aim of the study is to investigate the level of stress faced by banking employees in both p ublic and
private sector banks in Tamil Nadu.The author discussed that due to growing technological
advancement the level of pressure and stress on banking employees has also increased. The author
suggested that bank should follow proper remedies and session to cope up stress.