RESEARCH PROJECT REPORT

ON

(Customer satisfaction with reference HDFC

banking services at Wadala east, Mumbai)
SUBMITTED TO

IN PARTIAL FULFILLMENT OF THE REQUIREMENT

FOR THE AWARD OF THE DEGREE OF

“BACHELOR OF ARTS (HONOURS) ECONOMICS”

Batch 2018-21
Session 2020-21

Submitted by: Supervised by:

(Santosh Sahani) (Mr. Rakesh Kumar)

Student of BA(Hons.) Economics Asst. Professor -Dept. of IBM

V Semester
GLA University, Mathura
Roll No.: 184800007

 CERTIFICATE

This is to certify that the research report entitled “customer centric satisfaction with

reference HDFC banking services at Wadala east Mumbai”, is submitted by Mr.

Santosh Sahani, student of BA (Hons.) Economics V Semester of “Institute of Business

Management”, GLA University, Mathura, under my supervision for the partial

fulfillment for the award of the degree of Bachelor of art (Honours) economics, Session

2020-21, Batch 2018-21.

Place: Wadala East, Mumbai

Date: 21/08/2020

(Mr. Rakesh Kumar)

Name & Signature of Supervisor
 DECLARATION

I Santosh Sahani, student of BA Hons.(Economics) (V Semester) Session 2020-2021,

Batch 2018-2021 hereby declare that my work entitled

“Customer satisfaction with reference HDFC banking services at Wadala east

Mumbai”, is the outcome of genuine efforts done by me under the able guidance of Mr.

Rakesh Kumar and being submitted to “Institute of Business Management”, GLA

University, Mathura as summer training project report in partial fulfillment for the

award of the degree of Bachelor of arts (BA Hons., Economics).

Place: Wadala East, Mumbai

Date: 21/08/2020

Name: Santosh Sahani

Course: BA (Hons.) Economics (V Semester)

University Roll No: 184800007
 ACKNOWLEDGEMENT

Firstly, I would like to express my sincere gratitude to Prof. A. M Agarwal – Pro Vice-
Chancellor and Director - IBM without whose blessings my summer training project
work would not be completed.

I also want to thank our HOD - Prof. Somesh Dhamija for providing me encouragement,
motivation and moral support throughout the project work.

In addition to this I would also like to thank Mr. Rakesh Kumar, Assistant Professor
IBM who supervised my project. Under his unrelated support and guidance, my project
has taken this shape.

I am equally indebted to my family and friends who always inspired and motivated me
to do something better throughout this project.

At last I would like to extend my sincere thanks to all the respondents to whom I visited
for giving their support and valuable information, which helps me in completing my
project work.

Santosh Sahani

Course - BA (Hons.) Economics V sem.

University Roll No. 184800007
 EXECUTIVE SUMMARY

The research report is on “Customer satisfaction with reference HDFC banking

services at Wadala east Mumbai " report starts with the introduction of oil HDFC
bank. It includes various topics:

• ABOUT THE COMPANY/ORGANIZATION: it contain history, fEATURE of

product and services, achievements, etc.
• INTRODUCTION TO THE TOPIC: this chapter contain introduction on the
topic need of the study, scope of the study, and objective

• RESEARCH AND METHODOLOGY: It covers introduction, objectives of

research, process, research methodology definition, research methodologies
following aspect, tools and techniques.


• DATA ANALYSIS AND INTERPRETATION: Through the table and diagram.

• FINDING AND SUGGESTIONS: In the end a comprehensive list of finding

and suggestions is included. Such finding and suggestions are drafted with the
purpose of find out the satisfaction lavel of Customer.

 TABLE OF CONTENTS

SERIAL NO. CONTENTS PAGE NO.

1.0 About the company/organization 01-30

2.0 Introduction to the Topic, Importance & Objectives 31-58

3.0 Research Methodology 59-64

4.0 Data Analysis & Interpretations 65-84

5.0 Findings, Suggestions and Conclusion 85-90

Annexure
• Bibliography 91

CHAPTER - 1

ABOUT THE
INDUSTRY AND
ORGANIZATION

1
 INTRODUCATION TO BANKING

Banking means accepting the deposits from the customers for lending to the
needy and extending the other services as to issue of dd etc.nowadays after
introduction of private sector banks the banks have become a profit centre
and the functions become changed and now banks are doing the insurance
and mutual funds also. but nationalised banks are still service oriented in
extending loans for Education loan, and rural development activities

A Bank is an organization which lends money to the borrowers for a

purposeful task, and provides a facility to deposit and withdraw
money when needed and charge for it.

HISTORY OF BANKING IN INDIA

Phase I

The General Bank of India was set up in the year 1786. Next came Bank of
Hindustan and Bengal Bank. The East India Company established Bank of
Bengal (1809), Bank of Bombay (1840) and Bank of Madras (1843) as
independent units and called it Presidency Banks. These three banks were
amalgamated in 1920 and Imperial Bank of India was established which
started as private shareholders banks, mostly Europeans shareholders.
In 1865 Allahabad Bank was established and first time exclusively by
Indians, Punjab National Bank Ltd. was set up in 1894 with headquarters at
Lahore. Between 1906 and 1913, Bank of India, Central Bank of India, Bank

2
of Baroda, Canara Bank, Indian Bank, and Bank of Mysore were set up.
Reserve Bank of India came in 1935.
During the first phase the growth was very slow and banks also experienced
periodic failures between 1913 and 1948. There were approximately 1100
banks, mostly small. To streamline the functioning and activities of
commercial banks, the Government of India came up with The Banking
Companies Act, 1949 which was later changed to Banking Regulation Act
1949 as per amending Act of 1965 (Act No. 23 of 1965). Reserve Bank of
India was vested with extensive powers for the supervision of banking in
India as the Banking Authority.
During those days public has lesser confidence in the banks. As an aftermath
deposit mobilisation was slow. Abreast of it the savings bank facility
provided by the Postal department was comparatively safer. Moreover, funds
were largely given to traders.

Phase II

Government took major steps in this Indian Banking Sector Reform after
independence. In 1955, it nationalised Imperial Bank of India with extensive
banking facilities on a large scale especially in rural and semi-urban areas. It
formed State Bank of India to act as the principal agent of RBI and to handle
banking transactions of the Union and State Governments all over the
country.
Seven banks forming subsidiary of State Bank of India was nationalised in
1960 on 19th July, 1969, major process of nationalisation was carried out. It
was the effort of the then Prime Minister of India, Mrs. Indira Gandhi. 14
major commercial banks in the country were nationalised.

3
Second phase of nationalisation Indian Banking Sector Reform was carried
out in 1980 with seven more banks. This step brought 80% of the banking
segment in India under Government ownership.
The following are the steps taken by the Government of India to Regulate
Banking Institutions in the Country:

1949: Enactment of Banking Regulation Act.

1955: Nationalisation of State Bank of India.
1959: Nationalisation of SBI subsidiaries.
1961: Insurance cover extended to deposits.
1969: Nationalisation of 14 major banks.
1971: Creation of credit guarantee corporation.
1975: Creation of regional rural banks.
1980: Nationalisation of seven banks with deposits over 200 crore.

After the nationalisation of banks, the branches of the public sector bank
India rose to approximately 800% in deposits and advances took a huge jump
by 11,000%.
Banking in the sunshine of Government ownership gave the public implicit
faith and immense confidence about the sustainability of these institutions.

Phase III

This phase has introduced many more products and facilities in the banking
sector in its reforms measure. In 1991, under the chairmanship of M
Narasimham, a committee was set up by his name which worked for the
liberalisation of banking practices.

4
The country is flooded with foreign banks and their ATM stations. Efforts
are being put to give a satisfactory service to customers. Phone banking and
net banking is introduced. The entire system became more convenient and
swift. Time is given more importance than money.
The financial system of India has shown a great deal of resilience. It is
sheltered from any crisis triggered by any external macroeconomics shock
as other East Asian Countries suffered. This is all due to a flexible exchange
rate regime, the foreign reserves are high, the capital account is not yet fully
convertible, and banks and their customers have limited foreign exchange
exposure.

BANKING INDUSTRY STRUCTURE IN INDIA

5
Scheduled Banks:- Banks that have been included in the Second Schedule
of RBI Act,1934; categorized as follows:-
1. Private Sector Banks:- Majority of stake is held by private individuals.
Examples of Private banks are; HDFC Bank, ICICI Bank, and AXIS Bank,
etc.

2. Public Sector Banks:- Majority of stake is held by the government.

Examples of Public Sector Banks are; Punjab National Bank, state bank of
India and Central Bank of India, etc.

LIST OF PUBLIC SECTOR BANKS IN INDIA 2020

Bank Name Establishment Headquarter

Vadodara,
1. Bank of Baroda 1908
Gujarat
Mumbai,
2. Bank of India 1906
Maharashtra
Pune,
3. Bank of Maharashtra 1935
Maharashtra
Bengaluru,
4. Canara Bank 1906
Karnataka
Mumbai,
5. Central Bank of India 1911
Maharashtra
Chennai, Tamil
6.Indian Bank 1907
Nadu
Chennai, Tamil
7.Indian Overseas Bank 1937
Nadu
8. Punjab and Sind Bank 1908 New Delhi, Delhi
9.Punjab National Bank 1894 New Delhi, Delhi
Mumbai,
10.State Bank of India 1955
Maharashtra

6
LIST OF PRIVATE SECTOR BANKS IN INDIA 2020

Bank name Establishment Headquarter

1. Axis Bank 1993 Mumbai, Maharashtra

2. Bandhan Bank 2015 Kolkata, West Bengal

3.CSB Bank 1920 Thrissur, Kerala

4. City Union Bank 1904 Thanjavur, Tamil Nadu

5.DCB Bank 1930 Mumbai, Maharashtra

6. Dhanlaxmi Bank 1927 Thrissur, Kerala

7. Federal Bank 1931 Aluva, Kerala

8. HDFC Bank 1994 Mumbai, Maharashtra

9. ICICI Bank 1994 Mumbai, Maharashtra

10. IndusInd Bank 1964 Mumbai, Maharashtra

11. IDFC FIRST Bank 2015 Mumbai, Maharashtra

12. Jammu & Kashmir Srinagar, Jammu and

1938
Bank Kashmir

13. Karnataka Bank 1924 Mangaluru, Karnataka

7
14. Karur Vysya Bank 1916 Karur, Tamil Nadu

15. Kotak Mahindra

2003 Mumbai, Maharashtra
Bank

16. Lakshmi Vilas Bank 1926 Chennai, Tamil Nadu

17. Nainital bank 1922 Nainital, Uttarakhand

18. RBL Bank 1943 Mumbai, Maharashtra

19. South Indian Bank 1929 Thrissur, Kerala

20. Tamilnad Mercantile Thoothukudi, Tamil

1921
Bank Nadu

21. YES Bank 2004 Mumbai, Maharashtra

8
HDFC Bank is one of India’s leading private banks and was among the first
to receive approval from the Reserve Bank of India (RBI) to set up a private
sector bank in 1994.
Today, HDFC Bank has a banking network of 5,326 branches and
14,996 ATMs spread across 2,825 cities and towns.

HDFC Bank Limited

We understand your world

Type Public

Traded as NSE: HDFCBANK

BSE: 500180
BSE SENSEX Constituent
NSE NIFTY 50 Constituent

ISIN INE040A01034

Industry financial services

Founded August 1994; 25 years ago

Headquarters Mumbai, Maharashtra, India

Area served India

Key people • Shyamala Gopinath

(Non-Exe Chairperson)
• Aditya Puri
(managing director)
Products Credit cards, consumer banking, banking, finance
and insurance, investment banking, mortgage

9
 loans, private banking, private equity, wealth
management
Revenue ₹1,166 billion (US$16 billion) (2019)
Operating ₹233 billion (US$3.3 billion) (2019)
income
Net income ₹211 billion (US$3.0 billion) (2019)
Total assets ₹11,894 billion (US$170 billion) (2019)
Owner HDFC (26.14%)
Number of 104,154 (June 30, 2019)
employees
Website www.hdfcbank.com

HISTORY OF HDFC BANK

How it all started

The Housing Development Finance Corporation Limited or HDFC was
among the first financial institutions in India to receive an “in principle”
approval from the Reserve Bank of India (RBI) to set up a bank in the private
sector. This was done as part of RBI’s policy for liberalisation of the Indian
banking industry in 1994.
HDFC Bank was incorporated in August 1994 in the name of HDFC Bank
Limited, with its registered office in Mumbai, India. The bank commenced
operations as a Scheduled Commercial Bank in January 1995.

2012
Josh Unlimited Launched

10
Our Bank launched its nation-wide sports initiative – Josh Unlimited –
covering 8 cities, drawing participation from 8,000 employees.
MOBILEBANKING AND SMS BANKING IN HINDI LAUNCHED

2013
Becomes the Market Leader in Credit Card Issuance

We became the largest issuer of credit cards in the country – over 5.5 million
outstanding credit cards at the end of October 2014 according to Reserve
Bank of India data.

SLI Touches 2 Million Households

Our Bank’s Sustainable Livelihood Initiative, which helps empower women

in rural India by giving them direct access to livelihood finance, reaches out
to over 20 lakh households.

11
2014
Blood Donation Camp Wins Guinness World Record

Our Bank earned the distinction of winning the Guinness World Record for
organising the largest blood donation drive (multiple venues) on a single day
globally.

Launched Missed Call Banking

Introduced the missed call banking service, allowing customers to use

banking services without having to visit the Bank or connect online. Within
a few weeks, a little more than a million customers started using this service.

2015

12
Bank Mobile Banking Has Largest Number of Mobile
Transactions

With about 55 per of all transactions being conducted via digital channels,
our Bank logged `3,540 crore worth of transactions or a total `8,403 worth
of digital banking transactions.

Mobile/Netbanking Have the Largest Number of Transactions

on Offer (135+)

Our Bank’s intuitive, comprehensive digital bouquet offers 135+

transactions – the largest in India – of which 75 are available on through
MobileBanking, formally launched under the Go Digital initiative.

Share Offering Oversubscribed Over 4 Times

13
Our Bank’s $324 million share offering was more than 4 times
oversubscribed in India.

ABOUT OUR BUSINESSES

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:

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 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 corporates including multinationals,

14
companies from the domestic business houses and prime public sector
companies. It is recognised as a leading provider of cash management and
transactional banking solutions to corporate customers, mutual funds, stock
exchange members and banks.

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 liberalisation of the 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.

RETAIL BANKING

15
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.

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 MasterCard
Maestro debit card as well. The Bank launched its credit card business in late
2001. By March 2015, the bank had a total card base (debit and credit cards)
of over 25 million. The Bank is also one of the leading players in the
"merchant acquiring" business with over 235,000 Point-of-sale (POS)
terminals for debit / credit cards acceptance at merchant establishments. The
Bank is well positioned as a leader in various net based B2C opportunities

16
including a wide range of internet banking services for Fixed Deposits,
Loans, Bill Payments, etc.

KEY EXECUTIVES

BOARD OF DIRECTORS-

Mrs. Shyamala Gopinath

Holds a masters degree in commerce CA IIb with 40+ year of experience in
the financial sector

Mr Malay Patel
has experience in varied roles such as export /import, procurement sales and
marketing

Mr Keki Mistry
older bachelor's degree in commerce from the Mumbai University. a fellow
member of the Institute of chartered accountants of India

HDFC Bank's Board of Directors is comprised of distinguished 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 focussed on recruiting and retaining the best talent in
the industry as it believes that its people are a competitive strength.

17
MANAGEMENT TEAM-

Mr Aditya Puri
Has been providing outstanding leadership as managing director since 1994
with more than 40 year of global banking experience.

Mr Kaizad Bharucha
executive director is a career banker with over 28 year of banking experience
and has been associated with the bank since 1995.

HDFC Bank’s leadership team brings together a diversity of talent and a

wealth of experience. Guided by an experienced board and visionary
managing director, the team steers the bank to new heights. As the world
becomes increasingly digital, the management team is leading the bank to
leadership in this emerging domain with innovative products and service

PRODUCT AND SERVICES OF HDFC BANK

DEPOSIT ACCOUNT-

1. SAVING ACCOUNT

A savings account is a type of deposit held at a bank by the customers that

lets them keep money safe in return for modest interest rate provided by the
bank. Savings with HDFC Bank is preferred by the people in the country as
the services provided by the bank in addition to the savings accounts allow
individuals to have a user-friendly banking experience all under a single
roof.

18
Savings with HDFC Bank has always been a favoured option as the bank has
a multitude of saving account solutions for customers with all types of needs
and requirements. The classification of savings accounts is based on gender,
occupation, income groups, etc. that make the account ideal for the
individual accountholder(s). Some of the outstanding utilities of HDFC Bank
savings accounts are:

• Save money and earn interest on your HDFC Bank saving account
deposit
• Savings accounts facility of HDFC Bank also issues cheques for
payment to its recipients
• Transfer of money with ease via internet and mobile apps
• Debit card issued under the savings account with HDFC Bank is used
for cash withdrawals and purchases
• HDFC Bank also has the option of joint savings accounts

TYPES OF HDFC BANK SAVING ACCOUNT:

I. Savings Max Account – A premium savings account with a host of

features to satisfy everyone’s needs. here are the features of the
account:
• Free cash withdrawals and balance enquiries across all domestic
HDFC or non-HDFC Bank ATMs
• Free for life Titanium Royale Debit Card
• Free for life Women’s Advantage or International Debit Card for all
accountholders.
• Free payable-at-par cheque book with no usage charges
• Free Demand Draft on HDFC Bank locations of up to Rs. 1 lakhs per
day

19
 • 50% off on locker rental calculated on a pro-rated basis for the first
year of allotment
• Free folio maintenance charges for the first year on Demat account
and transaction linked discount on AMC.
• Free email statements
• Ease of banking with various facilities like NetBanking,
PhoneBanking services and Mobile Banking
• Money Maximizer facility – also called the sweep-out facility wherein
when the balance of the savings account crosses 1.25 lakhs, the
relevant amount in excess of Rs. 1 lakhs is transferred to a fixed
deposit account with a minimum deposit of Rs.25,000 for a period of
1 year and 1 day.
• Free insurance benefits like Accidental Hospitalization cover of up to
1 lakh p.a. with a daily cash allowance of Rs.1000 per day for a
maximum of 15 days every year. Accidental Death Insurance cover of
Rs.10 lakhs is also given for death by vehicular accidents on road, rail
or air.
• Preferential pricing on online trading accounts with opening charges
of Rs. 499 as against the applicable Rs. 999 and 1 lakh worth of trade
volumes free for 3 months post opening the trade account
• 0.25% discount on auto loan interest rates
• 50% discount on availing Forex Plus Card linked to the account.

II. Regular Savings Account – This is a simple savings account with

HDFC Bank which is designed to meet the daily banking needs of the
individuals offering the following features:
• Wide network of HDFC Bank branches and about 11, 000 ATMs for
daily banking needs

20
 • Convenience of banking with NetBanking, Mobile Banking and
PhoneBanking services
• An International Debit Card is issued to accountholders which can be
used for shopping and other purchases.
• BillPay facility is provided by the bank wherein customers can pay
their utility bills online
• Availability of Safe Deposit Lockers, sweep-in facility and super-
saver facility on the account
• Annual maintenance charge is not charged for the first year for the
first new demat account.
• Accountholders can avail the exclusive benefits and discounts through
the bank’s online shopping site.
• Free payable-at-par cheque books without any usage charges
• Free facility of an email statement

III. Women’s Savings Account – A HDFC Bank women’s savings bank

account designed specifically for women customers giving them
special privilege and offers meeting their banking and lifestyle needs.
The details of the Account are as follows:

• EasyShop Women’s Advantage Debit card with a host of benefits like

Re.1 Cashback for every Rs.200 spent, Personal Accident Death
Cover of Rs.2 lakh and transaction limit of Rs.25, 000 and shopping
limit of Rs.1.25 lakh per day.
• Money Maximiser or sweep-out facility where excess savings earn
higher interest through Fixed Deposits. If the balance in the account
exceeds Rs.1 lakh, the deposit amount in excess of Rs.75, 000 is
transferred to a Fixed Deposit account for a period of 1 year and 1 day.

21
 • Free 25 leaves multi-city payable-at-par cheque book per quarter,
passbook facility and email statements.
• Free lifetime BillPay and folio maintenance charges on Demat
Account for a year.
• Convenience of banking with NetBanking, Mobile Banking and
PhoneBanking services
• Accidental Death Coverage of Rs. 10 lakhs, Accidental
Hospitalization Cover of Rs. 1 lakhs and daily cash allowance of Rs.
1,000 per day for a maximum of 10 days if the debit card has been
used at least once in the last 6 months prior to the claim.
• Exclusive shopping benefits on selected brands
• Offers on loans with up to 90% on road funding for auto loans and
savings of Rs. 2,375 and 50% processing fee discount on two-wheeler
loans.
• Preferential Pricing on new HSL trading account with Rs.999 for one
account opening charges and Rs.1399 for 2 accounts from the family.

IV. Senior Citizens Account – A savings bank account for senior citizens
catering to their banking needs. HDFC Bank offers several features
and benefits. Some of them are as follows:

• Free lifetime EasyShop International Debit Card with a spending limit

of 1.25 lakhs.
• Cash withdrawals of up to Rs.25,000 on the international debit card
and on being a woman customer, additional advantage of Woman’s
Advantage Debit Card.

22
 • Free PAP cheque books, passbook facility, free SMS alerts, email
statements, NEFT facility.
• Convenience of banking with NetBanking, Mobile Banking and
PhoneBanking services
• Preferential rates on Fixed Deposit accounts
• Discount on account opening charges for online Trading accounts
where the charges are @ Rs. 599
• No Annual Maintenance Charge (AMC) on demat accounts and
discounted AMC @ Rs.250 from the second year
• Free Travellers’ Cheque
• Reimbursement accidental hospitalization cover of Rs.50, 000 and
daily cash allowance of Rs.500 per day for a maximum of 15 days if
the debit card has been used at least once in the last 6 months prior to
the claim.

2. CURRENT ACCOUNT

HDFC Bank offers 18 types of current accounts to serve the needs of

different businesses. Current accounts largely deal with liquid deposits does
not limit the number of transactions in a day and easily allows for the
withdrawal of funds.

LOANS-

I. HOME LOAN

HDFC Bank offers 3 types of home loans for its customers at attractive
interest rates. Customers can opt for automated repayment and the EMIs will
be directly repaid from HDFC Bank Savings Account.

23
 II. PERSONAL LOAN

HDFC Bank offers a personal loan to its customers at attractive interest rates,
low processing fees, & simplified documentation. Customers can also avail
pre-approved loan in 10 seconds and others can get a loan in 4 hours.

III. LOAN AGAINT PROPERTY

HDFC Bank customers can pledge their property to meet the personal or
business goals with 4 types of loan against property. Customers can get up
to 65% of one’s property’s value, attractive interest rates, and hassle-free
processing.

IV. CAR LOAN

HDFC Bank helps to finance the dream of buying a new car for its customers
with up to 100% funding. Customers can opt for 3 types of car loans as per
their requirement with 7 year loan tenure, quick disbursal, and processing.

V. EDUCATION LOAN

HDFC Bank offers 3 types of education loan to its customers studying across
leading institutions in India & overseas to fulfill their career goals &
aspirations. Customers can also avail tax benefits u/s 80 (E) of Income Tax
Act, 1961.

VI. GOLD LOAN

24
 HDFC Bank offers gold loan with a minimum loan amount of Rs. 25,000 to
its customers at a flexible interest rate, minimal documentation & secure
storage. Customers can get the funds instantly & repay at their own
convenience.

VII. BUSINESS LOAN

HDFC Bank offers business loan to its customers of up to Rs. 50 lakh to

fulfill their unique business. It comes with easy documentation, attractive
interest rates, overdraft facility, and flexible tenures.

CARDS-
I. CREDIT CARD

HDFC Bank offers various types of credit cards to fulfill the needs of its
customers. The card offers attractive reward points, exclusive travel benefits,
dining privileges, and many more.

II. DEBIT CARD

25
 HDFC Bank offers a wide range of debit cards to cater to the needs of its
customers. The cards provide various offers, discounts, and cashback on
shopping, traveling, dining, etc.

INVESTMENT-

I. FIXED DEPOSITE
HDFC Bank offers fixed deposit schemes with high returns to its customers
for investing money. It also provides preferential interest rates (0.50%
additional) to senior citizens.

II. RECURRING DEPOPSITE

HDFC Bank offers a recurring deposit with a minimum deposit as small as
Rs. 1,000 or up to Rs. 14.99 per month and with a minimum tenure of 6
months up to a maximum tenure of 10 years.

CSR ACTIVITY OF HDFC BANK

26
We believe that a nation truly develops when its communities find
sustainable means of livelihood. Under HDFC Bank Parivartan, our CSR
initiative, we reach out to communities and enable them to shift from a
vicious cycle of poverty to a virtuous cycle of growth. Stemming from our
core value of sustainability, this approach empowers millions to be self-
reliant and in effect, become partners in the growth of our nation. Taking one
step at a time, we aim to pave the way for a brighter future.

Zero Investment Innovation for Education Initiative

ZIIEI (Zero Investment Innovation for Education Initiative) is an action-

oriented initiative that aims to improve the education system at zero or
minimal cost. With HDFC Bank Parivartan as its principal sponsor, ZIIEI is
the world’s largest people-driven grassroots innovation movement.
Rupantar, a multi-dimensional programme under the initiative provides a
platform for the government, corporates, NGOs and teachers to come
together for the sole purpose of improving the quality of education in
government schools. Uttar Pradesh is the first state to implement this

27
program. The program has successfully improved the quality of education in
government schools across 75 districts of the state and is currently being
implemented in 11 other states and 1 union territory in the country. ZIIEI
aspires to continue to transform the education system in India for generations
to come.

Rural development

Creating sustainable communities, we believe is also about bequeathing a

better world to future generations. Towards this, we undertake Holistic Rural
Development activities in rural India by collaborating with the community
and the government. These span initiatives on micro-watershed
management, irrigation, soil and water conservation, community forestry,
and renewable energy. Rural economies revolves around the quality of soil
and availability of water, making these critical to creating a sustainable
community. Within the villages taken up under the bank's Holistic Rural
Development Programme, we have partnered with the community and the
local administration to plan and initiate activities that aim at soil and water
conservation, improvement of surface and ground water availability, organic
farming practices, and renewable energy. The programmes are designed to
address environmental conservation while supporting livelihood
opportunities for the community. Long-term solutions, such as check dams,
pond deepening, bunding, etc. have been implemented leading to
improvement in agriculture.

28
SWOT ANALYSIS

STRENGTH WEAKNESSES

• Right strategy for the • Some gaps in range for

right products. certain sectors.

• Superior customer • Customer service staff needs

service vs. competitors. training.

• Great Brand Image • Processes and systems, etc

• Products have required • Management cover

accreditations. insufficient.

• High degree of customer • Sectoral growth is

constrained by low
satisfaction. unemployment levels and
competition for staff
• Good place to work

• Lower response time with

efficient and effective
service.

• Dedicated workforce
aiming at making a
long-term career in
the field.

29
 OPPORTUNITIES THREATS

• Profit margins will be good. • Legislation could impact.

• Could extend to overseas • Great risk involved

broadly. • Very high competition
• New specialist applications. prevailing in the industry.

• Could seek better customer • Vulnerable to reactive

deals.
attack by major competitors
• Fast-track career • Lack of infrastructure in
development opportunities rural areas could constrain
on an industry-wide basis. investment.

• An applied research centre • High volume/low cost

to create opportunities for market is intensely
developing techniques to competitive.
provide added-value
services.

30
 CHAPTER- 2

INTRODUCTION
TO THE TOPIC

31
CUSTOMERS

According to j mcmullin "A customer is someone who has an account with

a bank or who is in such a relationship with the bank that the relationship of
a banker and customer exists… The legal position implies that opening an
account is the crucial element in establishing the banker-customer
relationship".
Consumer centricity constitutes the core of our business philosophy. The
emergence of the omni channel era, combined with changes in demand as a
result of demographic and economic shifts, has led to a major transformation
in the banking value proposition – from retail to corporate – providing a one-
stop-shop to everyone for their banking needs. We have grown towards
providing a world of seamless banking where financial services and offers
are extended to customers at the place and time of need.

These services are especially customised for every customer segment in the
market, to financially enable and empower their life goals. Over the last year,
the Bank has built recognition in the space, and has won several awards. We
have also been successful in widening our network across the country,
reaching and serving not only the urban and semi-urban growth centers, but
the under-banked rural areas as well.

MULTI-CHANNEL DELIVERY

The wave of technological innovation in recent years has opened up new

possibilities for leveraging digital technologies such as mobile, wearables,
analytics and tele-presence. This means that the financial sector can no
longer rely only on traditional branch channels to serve customers and have
to expand their horizons to adopt. the evolving digital technology solutions.
We have been at the forefront in embracing an effective multi-channel

32
delivery model for ensuring customer delight.

CUSTOMER SATISFACTION

Our Annual Customer Satisfaction Survey (CSAT) study provides vital

insights into the perception and expectations of our customers across our
product segments. The CSAT survey conducted during the year have showed
consistent results compared to last year for the Retail Banking segment.

The Customer Transaction Survey (CTS) is an on-going customer sampling

survey conducted to understand the customer experience with different
aspects of the transaction undertaken by them. The insights from the surveys
are discussed in the Service Quality Council meetings.

In this electronic era, the service sector has been showing promising signs
across the globe. Competition and technological advancement are the twin
factors that have brought about unimaginable changes in customer services.
India is also sailing in accordance with current global trends. In our country,
the service sector’s contribution to the national economy is to be perceived
at the macro angle. Banks in India are characterized by huge network of
branches supported by strong banking system and their products and channel
of distribution capabilities can be matched with those of the leading
international banks. Banks desiring to become global must have carved a
niche for themselves in India and other well established markets, says a
report of consultancy major Ernest and Young, as they would be major
source of revenue generators of the financial system. External service
quality, which refers to the quality of service delivered to the customers, has
gained importance in the light of increasing customers’ estimations, and
changing customer preferences. External service quality offered to
customers in generally referred to as service quality. Providing high quality

33
service enhances customer retention rates, helps to attract new customers
through positive word of mouth advertising, increase productivity, leads to
higher market share, financial performance and profitability. With the
emergence of new generation banks, introduction of technology, competition
and deregulation etc., new dimensions to customer service have been added.
In the present scenario, customers delight, has been a buzzword in banking.
The external and internal service quality in banks is a compulsory
requirement for the survival of banks in the industry.

PRODUCT AND SERVICE FEATURE

Customer satisfaction is heavily influenced by evaluation of product and
services features made by customer. In case of banking sector, customer may
evaluate service features on the basis of price level, friendliness of personnel
and level of customization of services. Especially in service sector, service
is the core product sold by the service provider. 


34
PRICE

Quality of service can be determined on the basis of price of the product and
services. Usually customers believe that higher the prices of product or
services, higher will be the service quality and vice versa. So, customer use
price as a basis to judge quality. 


SATISFACTION FACTOR

Situational factors are also known as environmental factors which also affect
satisfaction while consuming services. Michael et al. (1999) describes that
individual consumption behaviour also depends on the situational or
environmental factor. Situation factors are one of the general factors that
influence customer satisfaction because buying behaviour always takes place
in certain situational context 


PERSONAL FACTOR

Individual perceptions, values, attitudes and belief also influence in customer

level of satisfaction. Moreover, personal factor plays vital role in
individual’s way of consuming goods and services. So consumer consume
those products which they believe can fulfil their own needs. Hence, personal
factor such as age, gender, education level, income level also influences level
of satisfaction (Boundless, 2015). On the basis of aging, individual buying
behaviour differs. For instance, demand for services, recreation, clothes,
food habits differ with changes in age. 


EMPATHY

Customers need to feel that they are made priority by the organization
providing services. Empathy means caring, paying personal attention, and
providing services to customers. The core of empathy is conveying the

35
feeling that the customer is unique and special. Parasuraman et al. stated that
quantitative studies that have identified service quality model dimensions
have used security, credibility, and access to measure empathy.

RESPONSIVENESS

Parasuraman et al. highlighted that the responsiveness of willing employees

involves telling customers exactly when things will be done, giving them
undivided attention, promoting services, and responding in accordance with
their requests. Responsiveness was ranked as the third dimension in
SERVQUAL 1994.

ASSURANCE

Assurance has been defined as employees’ courtesy and knowledge, and

their capacity to transfer confidence and trust to customers. The opinions of
researchers on the ranking of assurance among service quality dimensions is
varied. Assurance is ranked first according to Gronroos, while the author of
ranked it in fourth place. Assurance means keeping customers informed in
their native language and listening to them, regardless of their educational
level, age, and nationality. Parasuraman et al. states that assurance indicates
the attitudes of the employees and their behavior, and the staff’s ability to
provide friendly, confidential, courteous, and competent services.

TANGIBILITY

identify tangibles as physical facilities (equipment, personnel, and

communications materials). It is the physical image of the service that
customers will use to assess quality. Tangibles are associated with the
physical facilities, tools, and machines used in order to provide the service,
as well as representations of the services, such as statements, cards (debit

36
and credit), speed, and efficiency of transactions. Several privileges are
included in tangibles such as; external appearance, counters in the bank,
overdraft facilities, opening hours, and speed and efficiency of transactions.
Parasuraman et al. stated that tangibles have the same importance as
empathy. The authors argued that it is advisable to consider including
opening hours of operations under the empathy dimension; furthermore, the
reliability dimension may include overdraft privileges. Sharmin et al.
consider tangibles as a distinct element, showing consistency across cultures.

RELIABILITY

reliability means organizations perform a service correctly the first time.

Moreover, it shows that organizations strive to fulfill promises and pay
attention to the results. Reliability has been classed as the first dimension of
the SERVQUAL service quality model. Studies of Lam ranked reliability as
first in the dimensions of the service quality model.

In view of the fact that customer satisfaction is indispensable in the banking

organization, many government and non- government agencies as well as
individual academicians and practitioners undertook various studies. Oliver
(1980) expressed their view about customer satisfaction that customer
satisfaction is a feeling or attitude of a customer towards a product or service
after it has been used and is generally described as the full meeting of one’s
expectation. Codatte (1987) argued that customer develops norms for
product experience and these, rather than expectation from a brand’s
performance, determine the confirmation/ disconfirmation process.
Westbrook (1991) has argued that in addition to the cognitive components
as both coexist and make independent contribution to the satisfaction

37
judgments. Levesque (1996) conducted a study to confirm and reinforced
idea that unsatisfactory customer service leads to drop in customer
satisfaction and willingness to recommend the service to a friend. This would
in turn lead to an increase in the rate of switching by customers. East (1997)
suggested that customer satisfaction is a major outcome of marketing
activities whereby it serves as a link between the various stages of customer
buying behaviour. If the customers are satisfied with a particular service
offering after its use, then they are likely to engage in repeat purchase and
try time extensions. Researchers like Jamal (2002) and Campbell (2006)
have evaluated services of banks in term of customer satisfaction parameters
and , therefore, have made good contribution in the field of research in the
area. However, human customer is a complex organism, always changing
with changing times, the preference and priorities also do not remain static
which change his/her perception about the satisfaction or dissatisfaction
regarding the services he/ she gets from banks. Taking this into
consideration, the above studies lose their relevance and there is need to
conduct a fresh study on the subject. It is against this backdrop that the
present study is undertaken with a view to fill up this gap.

with a service company’s profits than scale, market share, unit costs, and
many other factors usually associated with competitive advantage”. Banks
serving private customers seek to reduce defections by building relationship
Loyalty is an emotional relationship between the customers and the
company. Therefore, loyalty is measured by the customer relationship
strength. In competitive, complex & dynamic bank industry setting, only a
small distinction in service providing, will cause a great transformation.
Traditional banks, according to the principals of Relationship Marketing that
consider the customers loyalty as its main goal, are going to be changed in
to customer-based ones. In such dynamic setting, producing & setting

38
strategies, which result in making customers loyal, is so important. Trust and
satisfaction both are related to both behavioural and attitudinal loyalty.
Satisfaction is positively related to repurchase intention and customer
loyalty. Additional work by, finds that perceptions of commitment can lead
to word-of-mouth communication, an aspect of attitudinal loyalty, and can
result in future purchase intentions, an aspect of behavioural loyalty.

LOYALTY AND SATISFACTION

Customer loyalty is an important objective for strategic marketing planning

and represents an important basis for developing a sustainable competitive
advantage. Some researchers state that a positive relationship exists be-
tween loyalty of customers and performance of companies. Customer loyalty
leads to increase business value and keeps business costs low as well.
Increase in value and saving money mean lower time when companies seek
for new customers. Many definitions about loyalty have two points in
common; that is, behavioural aspect and attitudinal aspect. Behavioural
loyalty is customer’s repeated transaction and researches usually measure
this aspect by observational techniques. Attitudinal loyalty has both positive
effect on the relationship continuance, and the tendency to continue to
remain in the relationship . Loyalty is a dedication on the part of the buyer
to maintain a relationship and a devotion to buy the product or service
repeatedly. Loyalty thus has a behavioural component which suggests a
repurchase intention but also includes an attitudinal component which is
based on preferences and impression of the partner. Trust can create benefits
for the customers by decreasing transaction cost ultimately fostering
customer loyalty to the relationship. Loyalty has been defined as “a deeply
held commitment to rebury or re patronize a preferred product/service
consistently in the future”.

39
Customer satisfaction is an overall attitude formed based on the experience
after customers purchase a product or use a service. It is a reflection of being
content with such a product or a service. Satisfaction is the assessment of the
experience of interacting with a service provider up to the present time, and
is used by customers to predict future experience Satisfaction is a broad
feeling, which is affected by service quality, product quality, price, and
contextual and personal factors. Satisfaction is one of the antecedents of
customer loyalty. satisfaction positively affects customer loyalty. Although
the reason that customers remain loyal may not always be satisfaction, it is
safe to say that satisfied customers are more loyal.

LOYALTY AND TRUST

Trust has been studied extensively in literature. Trust has been defined as
one party believing that the other party wills fulfil his or her needs. In terms
of services, trust is the belief held by a customer that the service provider
will provide the service that meets customer needs. A more general
definition of trust is that a party has confidence in the honesty and reliability
of his partner. This definition can be applied in different contexts, including
exchanges of goods and services. Trust consists of two aspects: Perceived
credibility and benevolence. There are two levels of trust, at the first level,
the customer trusts one particular sales representative while at the second
level, the customer trusts the institution. Trust is an important mediating
factor between customer behaviour before and after purchasing a product
which can lead to long-term loyalty and strengthen the relation- ship between
the two parties. As with loyalty, trust is a special psychological state that can
only occur in certain relationships. When a customer trusts an organization,
he or she has the confidence in service quality and product quality of the
organization. Customers who trust an organization are more than likely to be

40
loyal to the company. point out that the precondition of customer loyalty is
customer trust. In prior research, trust has been conceptualized as antecedent
of satisfaction.

LOYALTY AND COMMITMENT

Commitment is a pledge of continuity between relational partners points out
that It may also be viewed as the attachment that one party perceives towards
another party in a situation. At its core, commitment is an attitude towards
the act of maintaining a relationship with a partner. Over the past years of
relationship marketing scholarship, our understanding of commitment has
significantly expanded. From a construct that had a limited definition, it is
now regarded as a complex construct that includes multiple components.
Many researchers in marketing have borrowed from the organizational
behaviour literature where there is a rich tradition of research on the
organizational commitment construct.

LOYALTY AND MENTAL IMAGE

An organization’s image is an important variable that positively or
negatively influences marketing activities. Image is considered to have the
ability to influence customers’ perception of the goods and services offered.
Thus, image will have an impact on customers’ buying behaviour. Service
literature identifies a number of factors that reflects image in the customer’s
mind. Image is considered to influence customers’ minds through the
combined effects of advertising, public relations, physical image, word-of-
mouth, and their actual experiences with the goods and services. Similarly,
using numerous researches on service organizations, found that service
quality was the single most important determinant of image. Thus, a
customer’s experience with the products and services is considered to be the
most important factor that influences his/her mind in regard to image. Heung

41
et al. found image to be an important factors and to maintain a relatively high
score rating among loyal customers. According to Mazanec image is
positively associated with customer satisfaction and customer preference (a
dimension of customer loyalty).

RELATIONSHIP QUALITY

To create long-lasting customer relationships, relationship marketing,

include marketing activities that attract, develop, maintain, and enhance
customer relationships, has been utilized in a wide variety of industries.
Customers care about the relationship as a whole and judge the relationship
using past experience, expectations, predictions, goals, and desires.
Relationship quality has been positively linked to customer loyalty. There is
no unified definition of relationship quality. Relationship quality has been

42
conceptualized as a construct consisting of several components. These
components include satisfaction, trust, commitment, and overall quality
among others. In the prior studies, satisfaction, trust are the most examined
aspects of relationship quality.

SERVICE QUALITY

Service managers need to understand how perceptions of their performance

on service quality dimensions influence levels of customer satisfaction. The
literature shows positive effects of customer satisfaction on such desirable
outcomes as repeat purchase, retention, loyalty, retailer sales performance,
and profitability. Discussion of service quality has resulted in the realization
of the intangible, heterogeneous, and inseparable nature of the concept. Thus
it is hard to measure it with the same measurement for product quality. Quite
a few conceptualizations and measurements of service quality may be found
in the literature. For example, it has been defined as consisting of two aspects
first technical quality and second one is functional quality. Service quality is
also defined as the difference between customer expectation and the
perception of service quality. Parasuramanetal. provided a list of their focus
group studies with service providers and customers: access, communication,
courtesy, competence, credibility, reliability, responsiveness, security,
understanding and tangibles. In a later article they added that: “although the
relative importance of the categories would vary from one service industry
to the next, we believe the determinants of service quality in most (if not all)
consumer service industries are included in this list.” They then used the five
dimensions tangible, reliability, responsiveness, assurance and empathy-as

43
the basis for their service quality measurement instrument, servqual.
However, some argue that measuring service quality using servqual, which
is based on performance-minus-expectation (or gaps), is inappropriate and
suggest that servpere, which is performance-only measurement, is a better
method. A third conceptualization of service quality includes interaction
quality, physical environment quality, and out- come quality. Interaction
quality includes attitude, behaviour, and expertise. Physical environment
quality includes ambient conditions, design, and social factors. Outcome
quality includes waiting time, tangibles, and valence. In this study, service
quality is defined as the whole service quality perceived by customers after
using the service. Service quality is very important to customer satisfaction
and trust. It is also one of the often studied antecedents of relationship
quality. Service quality represents basic customer expectations, thus, a
hygiene factor. In a study of service quality in banking, hospitals, and photo
development, service quality was found to have a positive effect on
relationship quality, which includes satisfaction and trust. Service quality is
an important factor affecting customer satisfaction. The increase in
customer’s perceptions of service quality will influence aspects of
relationship quality such as satisfaction and trust. In studying the 3C
(computer, communication, and consumer electronic) retail industry in
Taiwan, service quality has been shown to have a significant impact on trust.

44
ROLE OF PRICE/CHARGES/RATE/ FAIRNESS AND QUALITY

SERVICE WITH CUSTOMER SATISFACTION

CUSTOMER SERVICES
Customer service is a system of activities that comprises customer support
systems, complaint processing, speed of complaint processing, ease of
reporting complaint and friendliness when reporting complaint Customer
services are the opportunities for telecom service providers that are added to
mobile network other than voice services in which contents are either self
produced by service provider or provided through strategic compliance with
service provider. The improved customer services are the focal point of the
telecom service providers for social as well as for economic reasons. From a
social point of view, services should be available to the customers on
reasonable terms. As far as economic factor is concerned, services should
satisfy the needs of the customers.

For developing satisfaction among customers, the telecom service providers

need to be extra careful for the customer services they provide. Satisfaction
of customer is determined by his evaluation of service provided by a
brand.The study of Ahn, Han and Lee (2006) shows that when the customers,
do not get their complaints considered properly, they start looking for other
brands. It happens because either the customer service centers do not handle
the complaints or the customers are not able to address them properly.
Sometimes, telecom service providers take considerably longer time to
resolve the problems like network coverage or call quality, the customers do
not wait for long and hence they lose satisfaction with that particular brand.

Furthermore, the friendly attitude and courteous behaviour of the service

workers at service firms leaves a positive impression on the customer which

45
lead towards customer satisfaction. On the other hand, if a telecom service
provider lacks in providing services (call drops) to its customers it
experiences customer churn. Kim, Park and Jeong (2004) argued that service
provider should provide customer oriented services in order to heighten up
customer satisfaction. It was also found that the customers get satisfied to a
brand more if they get all the needed services accumulated in that very brand
(Ahn, Han and Lee, 2006).

PRICE/CHARGES/RATE FAIRNESS
According to Kotler and Armstrong (2010) price is the amount of money
charged for a product or service, or the sum of the values that customers
exchange for the benefits of having or using the product or service while
Stanton, Michael and Bruce (1994) defined price as the amount of money or
goods needed to acquire some combination of another goods and its
companying services. But the marketing literature showed researchers’
inclination towards price fairness in relation with customer satisfaction
(Hermann et al., 2007; Kukar-Kinney, Xia and Monroe, 2007; Martin-
Consuegra, Molina and Esteban, 2007). Price fairness refers to consumers’
assessments of whether a seller’s price is reasonable, acceptable or justifiable
(Xia et al., 2004; Kukar-Kinney, Xia and Monroe, 2007). Price fairness is a
very important issue that leads toward satisfaction. Charging fair price helps
to develop customer satisfaction and loyalty. Research has shown that
customer’s decision to accept particular price has a direct bearing at
satisfaction level and loyalty and indirectly (Martin-Consuegra, Molina and
Esteban, 2007). In another study of Herrmann et al., (2007), it was concluded
that customer satisfaction is directly influenced by price perceptions while
indirectly through the perception of price fairness. The price fairness itself
and the way it is fixed and offered have a great impact on satisfaction.
According to Lommeruda and Sørgard (2003), telecommunication services

46
are like undifferentiated products therefore, customers are not price sensitive
all the times and sometimes brand loyalty takes part in brand preferences.
This is the reason; some consumers are retained with old monopolists.

Literature explored showed substantive role of price fairness and quality

service with customer satisfaction, therefore, this study also comprised these
two factors and their effects at customer satisfaction in the banking.

CUSTOMER SATISFACTION AND SERVICE QUALITY

There are few studies which initiated the idea that the customer satisfaction
can result from any dimension (whether or not it is quality related) and its
judgments may arise from non-quality issues (e.g. needs, equity, perceptions
of “fairness”) and require experience with the service or provider (Taylor
and Baker, 1994; Howard and Sheth, 1969). Given this pervasive nature of
customer satisfaction phenomena and generally recognized orientation of
customer satisfaction mainly as a “behavioral response” by the literature,
research directions point us to the popular concept of “service quality”
through which customer satisfaction can be better analyzed. However, it is
still under debate whether customer satisfaction is an antecedent of service
quality judgments (Bitner, 1990; Parasuraman et al., 1985) or service quality
is an antecedent of customer satisfaction (Anderson and Sullivan, 1993;
Cronin and Taylor, 1992; Taylor and Baker, 1994). 


The concept of service quality began to receive significant attention in the

early 1980s with the writings of Gro ̈nroos (1984) and Lehtinen and Lehtinen
(1982). Parasuraman et al. (1985) identified ten dimensions of service
quality, including; reliability, responsiveness, competence, access, courtesy,
communication, credibility, security, understanding/knowing the customer,
and tangibles. However, these dimensions are reduced to five dimensions

47
that are: reliability, assurance, tangibles, empathy (Parasuraman, 1998).
Dimensions of service quality measured using a 22-item scale named
“SERVQUAL”. SERVQUAL used for measuring the quality of service in
different service contexts that include appliance repair and maintenance
firms, several retail banks, a long distance telephone provider, a security
broker and credit card companies; such multi-perspective validation of
service quality dimensions helped in developing and designing a relatively
standardized scale which could be applied for the measurement of service
quality of different types of services organizations. 


SERVICE QUALITY IN BANKING

Service quality is gaining more importance in the banking industry and the
value of
 improving service quality should be determined Berry and
Thompson (1982) suggest
 that developing strong relationships between
customers and financial institutions serve
 as incentives for customers to
remain loyal and thus provide financial institutions with a
 source of
differential advantage. Similarly Teas (1993) finds that a centrally
important
 aspect of a commercial customer’s dealing with a bank is the
quality of the long-term relationship that develops with the bank. Several
researchers’ models have provided a basis for many of the quality initiatives
adopted by financial services companies (Boaden and Dale, 1994; Howcroft,
1993; Kwan and Hee, 1994; Laroche and Taylor, 1988; LeBlanc and
Nguyen, 1988; Lewis, 1989, 1991; Lewis and Smith, 1989; Smith and Lewis,
1988, 1989; Teas and Wong, 1991; Tilston, 1989; Wilkinson et al., 1991).
Tilston (1989) believes that a few initiatives have “had any significant
impact, either on customer perceptions or on commercial results”. Teas and
Wong (1991) developed a measure of concepts related to retail bank
customer’s perceptions of retail bank service delivery systems.

48
The results of their research indicate four potentially important aspects of the
retail bank service delivery systems; general bank personal service, teller
personal service, reaction capacity, and location convenience. The research
results support the hypotheses that retail bank customer’s perceptions of
these issues may be related to customer satisfaction and intentions to do
business with the bank in future. These include intentions to purchase
additional products and intentions to give the bank a larger percentage of the
customer business. LeBlanc and Nguyen (1988) focused on service quality
in financial institutions and discussed six factors that explain perceived
service quality:

1. degree of customer satisfaction; 


2. contract personnel; 


3. internal organization; 


4. physical environment and instruments; 


5. corporate image; and 


6. personnel-customer interaction during the service encounter,

contribute to service quality. 


Smith and Lewis (1989) studied service quality programs and the way in
which the customer care philosophy permeated organizations from top
management to customer contact staff in 31 major UK organizations
spanning financial services, retailing, and leisure. One aspect of the research
was to identify what the management thought were the key elements which
comprise good customer service, i.e. what external customers expect from
the company.

49
The study’s overall picture of the service quality of retail banks was
highlighted in the following conclusions:

• the widest gap between perceived performance and expectations is in

the empathy dimension; and 

• the tangibles dimension shows the smallest gap and the lowest score
among the five dimensions for expectation and bank customer’s
expectations are the highest for reliability. 


The preceding review of the literature reveals that while extensive

investigation of service quality has been conducted in the services marketing
arena over the past few decades, research and debate still continues.
Moreover, very little has been done to understand the determinants of service
quality in the realms of the banking sector. Satisfaction of the consumer is
considered by most researchers as an attitude that is formed by comparing
expectations prior to consuming with perceptions of outcome after
consumption. 


CONSUMER AWARENESS AND PRIVACY (HDFCF BANK)

We aim to provide relevant and transparent information to customers to

enable them in making informed decisions about our products and services.
The details on product features and charges are explained to the customer
during the transaction.

The ‘Most Important Document’ contain terms of conditions including

disclosures on any important disclaimers and grievance redressal
procedures. The customer is required to read and sign this important
document along with account opening / card application form. Where
required by Regulators, or as an industry practice, the product labelling also
includes the ‘risk rating’ of the product.

50
We also provide online tools to customers to understand their eligibility,
applicable interest rates and service charges for loan products, including
home loans and car loans. SMS alerts are sent to customers when the charges
or fees get triggered or are levied in their account.

Similarly, customers are made aware of free monthly ATM transactions

available through SMS alerts.

We have well-defined ‘Information Systems Security Policies (ISSP)’ to

guide us on the key aspects of information security and data privacy. The
robust ISSP framework helps us meet regulatory requirements, voluntary
industry standards, and streamlines the adoption of best practices towards
managing information security and data privacy.

All the recommendations of the RBI Working Group issued on 29 April,

2011 as applicable, related to Information Security, Electronic Banking,
Technology Risk Management and Cyber Frauds have been implemented
and independent assessment has been done to verify and evaluate the
implementation status. We have adopted and are certified for ISO
27001:2013 Information Security Management Systems and the Payment
Card Industry Data Security Standard (PCI DSS) 3.2.

We ensure that the IT infrastructure stays protected round-the-clock, by

implementing appropriate perimeter defense solutions and protection tools
for employee desktop and laptops. All critical information is monitored for
any suspicious activities. Periodic Vulnerability Risk Assessments are
conducted across key assets to assess the potential risks and adopt mitigating
strategies.

We have deployed state-of-the-art solutions for Data Leakage Protection,

Information Rights Management, Mobile Device Management, Mobile

51
Application Management, and Advanced Persistent Threat to ensure that the
data and information is stored, accessed and transferred in a controlled and
secure environment. All electronic data information transmitted to third
party agencies is stringently monitored, and data encryptions are used to
secure the use of such data. Employees are periodically trained on
information security policies and measures, and all employees are required
to undergo a mandatory e-learning module on information security.

CUSTOMER SERVICE
Our customers are the focus of whatever we do. The Bank aspires to provide
them with a fulfilling and enriching service experience.

CUSTOMER RELATIONSHIP MANAGEMENT

CRM activities and technology have greater customer satisfaction. Other

proponents show that if the firm performance is measured in terms of
retention and customer satisfaction, there is a greater retention and
satisfaction levels for firms that have good relational information process in
place. Satish, Subhash, Peter and Pushkala in their studies on: Say that
essentially customer relationship orientation establishes a “collective mind”.
Weick and Roberts believe that the system is important for the organization
and that customer relationship is an as- set and a driver of choice in the
process information processing and implimentation.

Some thinkers agree that the potential of today’s customer information

marketing systems far exceeds any traditional marketing information system
that has gone before. These new systems differ from the old in their scale
(thousands of bits of information on tens of millions of customers), the depth
of information that can be captured on each individual or household and the
ways in which the information can be used. They continue by stating that in

52
many cases, access to this information about individual customers allows the
organization to customize to the individual level what previously would have
been undifferentiated services.

In recent years, sophisticated CRM software has helped make quality service
achievable and efficient. CRM is also revolutionizing the sales function. By
providing detailed customer histories, integrated service, and pric- ing
information, these tools allow the sales person to be consultative and to add
more value than in the past. They also point out the drawbacks of CRM
systems:

They require major monetary and human investments; they often mandate
integration of incompatible information systems, significant internal training
costs, and incentives to ensure they are used effectively. Frequently they fail
at least on the initial try, because some companies do not anticipate the
amount of work involved and many do not realize how resistant their
employees will be to making necessary changes. But despite these
drawbacks, many companies now see the implementation of front office
CRM as not only a potential competitive advantage but also, in some cases,
a requirement for survival.

Technological plan aligns the bank’s information system investments and

initiatives with its business strategy. Against the background of financial
liberalization in India on one hand, and the continuous changes taking place
in IT products on the other hand, banks are entering into newer areas of
mutual funds, merchant banking factoring leasing and financial counselling.
Thus Indian banks feel the need to work out their future strategies in the
changed context and the emerging environment. Banking is no more a
business related to only money transactions it is now perceived as business
related to information on financial transactions.

53
In the banking sector many banks operate through networks this enables
speedy inter-bank transactions, hence customers can utilize services like
credit and debit cards easily. Computers are no longer used for operational
efficiency but to improve customer services.

Uppal notes that more than other industries, financial institutions rely on
gathering, processing, analyzing and providing information in order to meet
the needs of customers. Hence there is a need for banks to adopt an
automated information processing technology. Services include Automated
teller machines ATM’s, smart cards home banking, tele-banking, internet
banking core banking-centralized database, only one sever HUB MIS
management information system quick accurate decisions, electronic
clearing service across cities, bulk payments. The services have enabled the
bank to: save time, increase storage capacity, save money, improve data
accuracy, and maintain data security. Consumer e-banking has also enabled
the banks to offer round the clock banking services and increase profitability,
convenient banking, speed banking, low cost banking, quality banking
services and virtual banking. There has been a change in the delivery of
services to customers due to technological changes.

THE CUSTOMER RELATIONS PROCESS

Specifically CRM relates to strategy: the management of the dual creation
of value, the intelligent use of data and technology, the acquisition of
customers knowledge and the diffusion of this knowledge to the appropriate
stakeholders. It also includes the development of appropriate (long-term)
relationships, with specific customers and the integration of processes across
many areas of the firm and also across the network of firms that collabo-
rates to generate customer value.

Glazer argues that customer relationship management applications facilitate

54
organizational learning about the customer by enabling the analysis of
purchase behaviour across transactions through different channels and
customer touch points. He provides examples of how FedEx and American
airlines used investments in IT systems at the customer interface to gain
valuable customer knowledge.

Firms with greater deployment of CRM applications are in a greater position

to leverage their stock, accumulated knowledge and experience into valuable
customer support process. In addition, firms with a greater deployment of
CRM applications are likely to be more familiar with the data management
issues involved in initiating, maintaining and terminating a customer
relationship. This familiarity gives a firm a competitive advantage in
leveraging their collection of another customer data to customize offerings
and to customer needs.

CRM applications also enable contact employees to record relevant

information about each customer transaction. After this information is
captured, it can be processed and converted into customer knowledge based
on information-processing rules and organizational policies. Customer
knowledge captured across service encounters can then be made available
for all future transactions enabling employees to respond to any customer
need in a contextual manner. Firms too can use customer knowledge to
profile customers and identify their needs based on similarities between their
purchase behaviours and those of other customers. Firms can share their
accumulated customer knowledge with customers to enable them serve them
by defining the service and its de- livery to suit their needs. The process of
customer self-selection of service feature provides additional opportunities
for firms to learn their customers evolving needs and to deepen their
customer knowledge.

55
A customer centric organization should consist of structural aspects that
ensure that organizational actions are driven by customer needs and not by
the internal concerns of functional areas. In addition, employee evaluation
schemes and incentives should be designed to encourage behaviours
consistent with a customer relationship- oriented culture by augmenting the
organizations ability to focus on customer interactions and by ensuring that
expertise from different functional areas are deployed to promote quality
customer experience. These can be achieved by providing quick and
effective responses to customers. The use of relational information is also
likely to enhance customer satisfaction by proving consumption-related
fulfilment. Apart from shaping responses from customers, by enabling
customers to communicate easily with the organization, relational
information process helps register customer’s complaints and provide them
feedback. In addition, the integration of customer information and the
sharing of it with key customer contact employees enables customers and
other stakeholders to communicate with firms more effectively.

Further, other proponents state that frequent and open communication

between a supplier and a customer improves the customer’s efficiency in
using the firm’s products or services, thereby improving customer
satisfaction and loyalty. Relationship information process may also boost
customer relationship learning by proving customers with greater
understanding of organizations attempts to respond to their demands and
enhancing customer satisfaction and loyalty. Still others say that the primary
goal for a firm to implementing CRM applications is to track customer
behaviour, to gain insight into customer tastes and evolving needs.

Adrian and Pennie state that CRM should comprise a small set of processes
that addresses tasks critical to the achievement of organizations goals,
second each process should contribute to the value creation process at the

56
strategic or macro level. Fourth, the process needs to manifest
interrelationships.

They list four processes of CRM:


1. The strategy development process.


2. The value creation process.
3. The multi-channel integration process.
4. The performance assessment process.
For value creation, it is necessary to determine how existing and potential
customer profitability varies across different customers and customer
segments. Secondly, the economics of customer acquisition and customer
retention and opportunities for cross-selling up-selling and building
customer advocacy must be understood. How these elements contribute to
increasing customer lifetime value is integral to value creation. Calculating
the customer lifetime value of different segments helps the organization to
focus on the most profitable customers segments.

The value process is important because it translates business and customer

strategies into specific value proposition statements that are delivered to
customers and thus, it explains what value is to be received by the
organization, including the potential for co-creation.

OBJECTIVE OF THE STUDY

• To identify the dimensions of SERVQUAL that ensure maximum
satisfaction for customers in the banking sector. 

• To identify the factors affecting customer satisfaction. 

• To know the relationship of SERVQUAL Dimensions and customer
satisfaction level regarding HDFC 
Bank. 


57
 • To access whether customer satisfaction mediates the relationship
between service quality 
dimensions, situational factors and customer
loyalty. 

• To identify the degree of satisfaction of service quality via private
sector banks comparatively to 
public sector banks. 


LIMITATIONS OF THE STUDY

• The study is restricted to the selected branches of HDFC bank only.




• The study is restricted to customers of HDFC Bank 


• The sample is limited; it may not represent scenario of all the

customers’ preference. 


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’s opinions 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 "wadala east mumbai"

58
 CHAPTER - 3
RESEARCH
METHODOLOGY

59
Research strategy is a training or approach to take care of the examination
issue methodicallly. It is an art of concentrate that how inquire about is to be
done deliberately. It is additionally characterized as the investigation of
techniques by which actualities is picked up. Its point is to give the work
plan of research.
'Methodology" is the organized, hypothetical examination of the strategies
connected to a field of study.
RESEARCH
Research is a cautious and point by point think about into a particular issue,
concern, or issue utilizing the logical strategy. It's the grown-up type of the
science reasonable ventures back in grade school, where you attempt and get
the hang of something by playing out an analysis. This is best refined by
transforming any issue into an inquiry, with the aim of the examination to
answer the inquiry.

This undertaking has been produced on the basis of both looking at and
illustrative research. The examination procedure relies on building up the
most effective arrangement for social event the required and valuable data.

SAMPLE SIZE AND METHOD OF SELECTING

SAMPLE

SAMPLING TECHNIQUES
The inspecting method received with the end goal of the examination is
accommodation testing. As the name clearly implies, a usefulness test
implies choosing the specific units of the universe to speak to an example
for the examination.

60
SAMPLE SIZE
The example size of the investigation is 100. This example is considered as
a delegate for the exploration.
DATA SOURCE
For this research mission, both primary and secondary data were valuable
sources of information.

INSTRUMENTS USED FOR DATA ANALYSIS

As no investigation could be effectively finished without legitimate devices
and methods, similarly as with my report. For the better introduction and
right clarification I utilized apparatuses of insights and PC often. Also, I am
extremely appreciative to every one of those devices for helping me a ton.

Essential apparatuses I have utilized are:

• Pie Charts
• Tables

METHODOLOGY
Research is a logical and inspect for appropriate data on a particular point.
Research is a area of expertise of logical examination.
"Research can be characterized as an efficient and target investigation and
recording of controlled perceptions that may prompt the advancement of
speculations, standards, hypotheses and ideas, bringing about forecast for
seeing and potentially extreme control of occasions.''

TYPE OF RESEARCH
This project is considered as an analytical research.

61
Analytical research is defined as the research in which the researcher has to
use the facts or information that is already available, and analyze these to
make a important evaluation of the facts, figures, data or material.

RESEARCH DESIGN
The basics of activity look into configuration pursue a trademark cycle
whereby at first an analytical position is embrace, where a comprehension of
an issue is produced and designs are made for some type of interventionary
system.
Research configuration helps the analyst in the assignment of insufficient
assets by presenting significant decisions in the procedure. The arrangement
is the general plan or program of the examination. It incorporates a layout of
what the expert will do from composing theory and their operational
ramification to the last investigation of the information.

DESCRIPTIVE RESEARCH DESIGN

The plan for this examination is repetitive exploration structure. This
structure is picked as it depicts truthfully the attributes of a specific
framework and additionally the perspective held by people about the
framework. The feelings and perspective of representatives about the
framework help to consider the appropriateness of the framework and also
the limitations that may restrict its adequacy.

SIGNIFICANCE OF RESEARCH
Significance of research and research prompts innovation. Following
certainties feature the significance of the exploration.
• AN AID TO BUSINESS SUCCESS: This examination benefits
business ventures to enhance their deals and keep up a solid client base
by utilizing the effective advertising procedures.

62
 • MEANS TO FIND MISSING INFORMATION: The
examination gets data that enlisted specialists missed.

• DEEP KNOWLEDGE: It is a possibility which encourages you to

seek after an inside and out or profound unique investigation about
any point which premiums you.

• LOGICAL AND SYSTEMATIC THINKING: Research

encourages coherent or precise reasoning procedure which leads
towards stream less methodology definition.

• IDENTIFICATION OF TRENDS: It encourages recognizable

proof of patterns which is eventually dependable in showcasing
openings.

• DECISION MAKING: Research additionally encourages in

simplicity of basic leadership for very much examined involvement.

• SOLVING PROBLEMS: Research is imperative in explaining an

assortment of operational and getting ready issues of organizations
and enterprises.

SOURCE OF RESEARCH DATA

Sources of research data are mainly two with the help of which the research
is done.
PRIMARY DATA
The essential information is that information which is gathered new or direct,
and for first time which is unique in nature. In this examination, the essential

63
information has been made from individual association with the general
population of different organizations.

The essential wellspring of information is through Questionnaire which

contained various questions identified with its notices, mindfulness among
individuals about the organization and so forth. The primary explanations
behind choosing the survey strategy for the investigation is :
• Respondents have room schedule-wise to give well
thoroughly considered answers.
• The time of study was additionally a restricting component.

SECONDARY DATA
The discretionary wellspring of information relies upon the an arrangement
of purposes of intrigue recoup from Websites, Journals, and Magazines.
Discretionary data will contain different composed works like books which
are , articles, web, distributed, the association manuals and locales of
association. Sources may consolidate present day figures, databases, library
sources, government creations and so on.
The information for undertaking report has been assembled from locales,
books, unstructured gatherings etc. In like manner, the wellsprings of
information in this undertaking report are both fundamental and
discretionary data.
The information for the done investigation has been gathered through the
essential sources. Necessary information for this investigation was gathered
with the support of Questionnaires and assessment criticism shapes.

64
 CHAPTER- 4

DATA
INTERPRETATION
AND ANALYSIS

65
 SEC- I

1. Age ?

under 18 18-25 26-45 45 or more

05% 55% 27% 13%

5%
13%

27%

55%

under 18 18-25 26-45 45 or more

INTERPRETATION

according to my study
• 5% of respondents are under 18 age.
• 55% of respondents are between age of 18 to 25.
• 27% of respondents are between age of 26 to 25
• 13% of respondents are more than 45-year-old.

66
 2. Gender ?

MALE FEMALE

50% 50%

INTERPRETATION

according to my study
• 50% of respondents are male.
• 50% of respondents are female.

67
 3. Occupation ?

Student self-employed Business man housewife

72% 10% 15% 3%

3%

15%

10%

72%

Student self-employed Business man housewife

INTERPRETATION

according to my study
• 72% of respondents are students
• 10% of respondents are self-employed
• 15% of respondents are businessman.
• 3% of respondents are housewife.

68
 4. Annually income ?

less than
25000-50000 50000-100000 100000-500000 other
25000
33% 37% 13% 9% 8%

8%
9%
33%

13%

37%

less than 25000 25000-50000 50000-100000 100000-500000 other

INTERPRETATION
according to my study
• 33% of respondents have income less than Rs.25,000
• 37% of respondents have income in between Rs.25,000 to Rs.50,000
• 13% of respondents have income in between Rs.50,000 to Rs.1,00,000
• 9% of respondents have income in between Rs1,00,000 to
Rs.5,00,000
• rest 8% of respondents have income above Rs.5,00,000

69
 SEC-II

1. For how long you are part of HDFC bank?

less than 6 more than 2

less than 1 year less than 2 year
month year
34% 45% 11% 10%

10%

11% 34%

45%

less than 6 month less than 1 year less than 2 year more than 2 year

INTERPRETATION

according to my study
• 34% of respondents using HDFC bank for past 6 month.
• 45% of respondents using HDFC bank for past one year
• 11% of respondents are you using HDFC bank for past 2 year.
• 10% of respondents are using HDFC bank from more than 2 year.

70
2. what are reason that attract you to be a customer of the bank.

its image its services Products all of the above

1% 8% 43% 48%

1%

8%

48%

43%

its image its services Products all of the above

INTERPRETATION

according to my study
• 1% of respondents choose HDFC bank based on its image.
• 8% percent of respondents choose HDFC bank based on its
services.
• 43% of respondents Julie HDFC bank based on its products.
• 48% of respondents jude HDFC bank based on all of the above
feature.

71
3. Are you aware of the different services offered by HDFC bank.

yes no

93% 07%

INTERPRETATION

according to my study
• 93% of respondents are aware of the different services offered by
HDFC bank.
• 7% of respondents are not aware of the different services offered
by HDFC bank.

72
4. Do you know about these services of the banking industry?

saving A/C 43%

fixed deposits 5%
current A?C 17%
demat A/C 3%
credit card 9%
insurence 10%
mutual fund 7%
loans 6%

50% 43%

40%

30%
17%
20%
9% 10%
5% 7% 6%
10% 3%

0%
saving A/C fixed current A?C demat A/C credit card insurence mutual fund loans
deposits

INTERPRETATION

according to my study
• 43% of respondents know about the saving account.
• 05% of respondents know about the fixed deposit.
• 17% of respondents know about the current account.
• 3% of respondent to know about the demat account.
• 9% of respondent to know about the credit card.
• 10% of respondents know about the insurance.
• 7% of respondents know about the mutual fund.
• 6% of respondents know about the loans.

73
5. Which of these products are you using?

saving A/C 55%

fixed deposits 3%
current A?C 10%
demat A/C 2%
credit card 8%
insurence 4%
mutual fund 8%
loans 10%

60% 55%

50%

40%

30%

20%
10% 8% 8% 10%
10% 3% 2% 4%

0%
saving A/C fixed current demat credit insurence mutual loans
deposits A?C A/C card fund

INTERPRETATION

according to my study
• 55% of respondents are using saving account services.
• 3% of respondents are using fixed deposit services.
• 10% of respondents are using current account services.
• 2% of respondent are using demat account services.
• 8% of respondent are using credit card services.
• 4% of respondents are you using insurance services.
• 8% of respondents are using mutual fund services.
• 10% of respondent are using loan services.

74
6. which of these products are you more interested in?

saving A/C 60%

fixed deposits 12%
current A/C 15%
demat A/C 17%
credit card 25%
insurence 10%
mutual fund 09%
loans 12%

70% 60%
60%
50%
40%
25%
30%
15% 17%
20% 12% 10% 12%
9%
10%
0%
saving A/C fixed current demat credit insurence mutual loans
deposits A?C A/C card fund

INTERPRETATION

according to my study
• 60% respondents are more interested in saving account.
• 12% respondents are more interested in fixed deposit.
• 18% respondents are more interested in current account.
• 17% respondents are more interested in demat account.
• 25% respondents are more interested in credit card.
• 10% respondents are more interested in insurance.
• 09% respondents are more interested in mutual fund.
• 12% respondents are more interested in loans.

75
7. Which services of the banks would you rate the best?

saving A/C 40%

fixed deposits 08%
current A?C 02%
demat A/C 04%
credit card 21%
insurence 11%
mutual fund 08%
loans 06%

0.45 40%
0.4
0.35
0.3
0.25 21%
0.2
0.15 11%
8% 8%
6%
0.1 4%
2%
0.05
0
saving A/C fixed current demat A/Ccredit card insurence mutual loans
deposits A?C fund

INTERPRETATION

according to my study
• 40% of respondents give the Best rating to saving account.
• 8% of respondents give the best rating to fixed deposit.
• 2% of respondents give the best rating to current account.
• 4% of respondents give the best rating to demat account.
• 21% of respondents give the best rating to credit card.
• 11% of respondents give the best rating to insurance.
• 8% of respondents give the best rate in two mutual fund.
• 6% of respondents give the best rating to loans.

76
 8. Do you know about the extra services being provided by the bank?

yes no

93% 07%

INTERPRETATION

according to my study
• 93% of respondents know about the extra services being provided by
the bank.
• 7% of respondents do not know about the extra services being
provided by the bank.

77
 9. Which of the following after service of the banks would you like to go
in for?

Phone banking 43%

ATM 11%
net banking 17%
mobile banking 3%
Bill payment 9%
none of these 00%
all of these 17%

50.00%
43%
45.00%
40.00%
35.00%
30.00%
25.00%
20.00% 17% 17%

15.00% 11%
9%
10.00%
3%
5.00% 0%
0.00%
Phone banking ATM net bankingmobile bankingBill payment none of these all of these

INTERPRETATION

according to my study
• 43% of respondents would like to go for phone banking.
• 11% of respondents would like to go for ATM.
• 17% of respondents would like to go for net banking./
• 3% of respondents would like to go for mobile banking.
• 09% of respondents are would like to go for bill payment.
• 17% of respondents or would like to go for all of these services.

78
 10. What is your perception regarding the services of the bank?

good average poor

51% 40% 09%

9%

51%
40%

good average poor

INTERPRETATION

according to my study
• 51% of respondents having good perception about the services
of the Bank.
• 40% of respondents having average perception about the
services of the bank.
• 9% of respondents having poor perception about the services
of the bank.

79
 11. Are you satisfied with the dealing of the bank officials?

yes no to some extend

54% 12% 34%

34%

54%

12%

yes no to some extend

INTERPRETATION

according to my study
• 54% of respondents are satisfied with the dealing of the bank officials.
• 12% of respondents are not satisfied with the dealing of the bank
officials.
• 34% of respondents are to some extent satisfied with the dealing of
the bank officials.

80
 12. Any problem you are facing regarding the bank?

customer
timeliness infrastructure other
relationship
42% 25% 30% 03%

45% 42%

40%

35%
30%
30%
25%
25%

20%

15%

10%
3%
5%

0%
timeliness customer relationship infrastructure other

INTERPRETATION

according to my study
• 42% of respondents are facing the problem of timeliness regarding
the bank.
• 25% of respondents are facing the problem of customer relationship
regarding the bank.
• 30% of respondents are facing the problem of infrastructure regarding
the bank.
• 3% of respondents are facing other problem regarding the banks.

81
 13. How likely are you recommended bank services to a friend or colleague?

somewhat neither likely somewhat

very unlikely very likely
unlikely nor unlikely likely
02% 12% 41% 21% 24%

2%

12%
24%

21% 41%

very unlikely somewhat unlikely neither likely nor unlikely very likely somewhat likely

INTERPRETATION

according to my study
• 2% of respondents are very unlikely recommended bank services to a
friend or colleague.
• 12% of respondents are somewhat unlikely recommended Banks
services to a friend or colleague.
• 41% respondents are neither likely nor unlikely recommended bank
services to a friend or college.
• 21% of respondents are likely recommended bank services to a friend
or colleague.
• 24% of respondents are somewhat likely recommended bank services
to a friend or college.

82
 14. How will you rate the HDFC bank in maintaining good customer
relationship?

good average poor

51% 40% 09%

9%

51%
40%

good average poor

INTERPRETATION

according to my study
• 51% of respondents give good rating to HDFC bank in maintaining
good customer relationship.
• 40% of respondents gave every rating to HDFC bank in maintaining
good customer relationship.
• 9% of respondents give your rating to HDFC bank in maintaining
good customer relationship.

83
 15. What is your overall satisfaction rate in with our company?

very somewhat neither satisfied somewhat

satisfied
dissatisfied dissatisfied nor dissatisfied satisfied
01% 02% 30% 14% 53%

1% 2%

30%

53%

14%

very dissatisfied somewhat dissatisfied neither satisfied nor dissatisfied

satisfied somewhat satisfied

INTERPRETATION

according to my study
• 1% of respondent are very dissatisfied with the company.
• 2% of respondents are somewhat dissatisfied with the company.
• 30% of respondents are neither satisfied nor dissatisfied with the
company.
• 14% of respondents are satisfied with the company.
• 53% of respondents are somewhat satisfied with the company.

84
 CHAPTER - 5
FINDING, SUGGESTIONS,
LIMITATIONS AND
CONCLUSION

85
 FINDINGS OF THE STUDY

• 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 good.

• Majority of the respondents are found the bank is good in maintaining

the customer relationship.

• Majority of the respondent said that they are facing the problem of
timeliness.

• The perception of the majority of the customer regarding the bank is

good

• The most preferable extra service is phone banking.

• The majority of customers are more interested in saving a/cs.

• The majority of the customers are satisfied with the dealing of the
officials.

• Main factor that attract customers towards bank is the products and
services of the bank.
• Services that are most used by the customer are saving a/c.

86
 SUGGESTIONS AND RECOMMENDATIONS

• More stress should give on the advertisement and promotional

activities.

• The Bank should make some efforts to improving good relationship

with customer.

• The bank should enhance their services according to the needs of the
customer.

• The bank makes its procedures less time consuming.

• The bank should make effort to aware the customers about their all the
extra services.

87
 LIMITATIONS OF THE STUDY

It is said, “Nothing is perfect” and if the quite is true, I am sure that there
would be few short coming in this project also. Sincere efforts have been
made to eliminate discrepancies as far as possible but few would have
reminded due to limitations of the study. These are:

• The research was carried out in a short period.

• targeted respondents are from a particular small area i.e wadala east,
Mumbai.
• Limited sample size.
• The information given by the respondent might be biased some of
them might not be interested to given correct information.
• Some of the respondents of the survey were unwilling to share
information.

88
 CONCLUSION

Economic prosperity has changed consumer demographics and

technological factors have made consumers demand for better quality and
efficient services. The service industry is becoming major contributor to the
economy of many countries which were earlier dependent on the
manufacturing sector. Service industry particularly the banking sector is not
left behind in the competition. Banking industry has been highly
commoditized. To be in business, every retail bank should have competitive
differentiation that can be realized to a great extent through customer service
excellence.

The aim of retail banking industry is to satisfy customers and deepen their
relationships. This can be achieved by taking the benefits of every cross-
selling and up-selling opportunity. The availability of advanced technologies
will help in boosting the cross-selling, increase customer retention and
differentiate the brands in the retail banking sector. The retail banking
industry is facing stiff competition and the current scenario is that of the
survival of the fittest. All the banks are trying to expand their customer base
and are developing their own long-term strategies to stay in the market. To
improve the customer services and relationship management many of the
retail banks adapt information technology that has helped in integrating and
consolidating banking operation. Competition in retail banking is increasing
between the existing players, from international players and even from the
new entrants. Retail banks should cope with the competition by providing
excellent service through customer orientation for which can be achieved
through specialization.

89
The latest strategy is in the use of debit/ATM cards in all processing
platforms irrespective of the retail banks. In other words a single
credit/debit/ATM card can be used in any of the ATM machine without any
processing or transaction fee. Retail banks adopted the strategy of
strengthening the online offerings by implementing new direct net features
and also integrating the newer and the traditional sales channels for the
clients who are tech-savvy and use the internet for their transactions and
dealing in the banks. Retail banks adopt the strategy of increasing their
product penetration to the existing clients in the traditional market while for
the urban or metro markets, increasing the distribution and selling of
specialized business products to commercial customers is focused more.
Many banks focus on those markets that provide them with the best mix
market growth and target clients concentration.

The broad objectives of the research were to find out the customer
satisfaction toward the HDFC bank. The hypotheses constructed have been
tested by means of the survey conducted to elicit the perception of customers
on the Service Quality dimension (Tangibles, Reliability, Responsiveness,
Assurance and ATM Service Quality) between Public Sector Banks and
Private Sector Banks. The analysis of the data collected through the survey
has few positive results and confirmed the hypothesis of the study.

90
 BIBLIOGRAPHY

https://www.hdfcbank.com/

https://www.hdfcbank.com/personal/about-us/overview

https://www.google.com/search?q=hdfc+bank&source=

https://www.paisabazaar.com/hdfc-bank/

https://v1.hdfcbank.com/csr/our-initiatives.aspx

91