OFFSHORE BANKING

3.2 RESEARCH DESIGN

Meaning

After deciding the basic aspects of research project i.e. formulating research problem,
objective of research, data requirement, sample design, etc. and before the commencement
of work of research project, the researcher has to prepare research design. The research
design indicates the type of research methodology under taken to collect the information
for the study. The researcher used both descriptive and analytical type of research design
for his research study.

The main objective of using descriptive research is to describe the state of affairs as it
exists at present. It mainly involves surveys and fact finding enquiries of different kinds.

The researcher used descriptive research to discover the characteristics of customers.

Descriptive research also includes demography characteristic of consumer who use the
product. The researcher also used analytical research design to analyze the existing facts
from the data collected from the customer.

3.2.1 DESIGN TYPES AND SUB-TYPES

There are many ways to classify research designs. Nonetheless, the list below offers a

number of useful distinctions between possible research designs. A research design is an

arrangement of conditions or collection.

Descriptive (e.g., case-study, naturalistic observation, survey)

Correlational (e.g., case-control study, observational study)

Experimental (e.g., field experiment, controlled experiment, quasi-experiment)

Review (literature review, systematic review)
Meta-analytic (meta-analysis)

Sometimes a distinction is made between "fixed" and "flexible" designs. In some cases,

these types coincide with quantitative and qualitative research designs respectively,

though this need not be the case. In fixed designs, the design of the study is fixed before

the main stage of data collection takes place. Fixed designs are normally theory-driven;

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otherwise, it is impossible to know in advance which variables need to be controlled and

measured. Often, these variables are measured quantitatively. Flexible designs allow for

more freedom during the data collection process. One reason for using a flexible research

design can be that the variable of interest is not quantitatively measurable, such as culture.

In other cases, the theory might not be available before one starts the research.

3.3 OBJECTIVES OF STUDY

1) To understand Offshore Banking and the strategies adopted by the banks.

2) To understand the performance of the offshore banking.
3) To understand the services that are provided by bank to the customers.
4) To understand the jurisdiction regulations.
5) To study the satisfaction level of customers towards the retail services and private
banking services.
6) To analysis the rates regarding with interest rate, legal rate etc.
7) To know the Government intervention in the offshore banking

3.4 RESEARCH METHODOLOGY

1) TYPES OF RESEARCH
a) SURVEYS
Surveys involve collecting information, usually from fairly large groups of people, by

means of questionnaires but other techniques such as interviews or telephoning may also

be used. There are different types of survey.

at a set point in time. An

a major event or experience and then again afterwards .

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b) QUESTIONNAIRES

Questionnaires are a good way to obtain information from a large number of people and/or

people who may not have the time to attend an interview or take part in experiments.

They enable people to take their time, think about it and come back to the questionnaire

later. Participants can state their views or feelings privately without worrying about the

possible reaction of the researcher. Unfortunately, some people may still be inclined to try

to give socially acceptable answers. People should be encouraged to answer the questions
as

honestly as possible so as to avoid the researchers drawing false conclusions from their
study.

Questionnaires typically contain multiple choice questions, attitude scales, closed

questions

and open-ended questions. The drawback for researchers is that they usually have a fairly

low response rate and people do not always answer all the questions and/or do not answer

them correctly Questionnaires can be administered in a number of different ways (e.g. sent

by post or as email attachments, posted on Internet sites, handed out personally or

administered to captive audience (such as people attending conferences). Researchers

may even decide to administer the questionnaire in person which has the advantage of

including people who have difficulties reading and writing. In this case, the participant may

feel that s/he is taking part in an interview rather than completing a questionnaire as the

researcher will be noting down the responses on his/her behalf.

b) INTERVIEWS
Interviews are usually carried out in person i.e. face-to-face but can also be administered by

telephone or using more advance computer technology such as Skype. Sometimes they are

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interviewees to decide whether they are comfortable about inviting the researcher into their

home and whether they have a room or area where they can speak freely without

disturbing other members of the household.

c) CASE STUDIES
Case studies usually involve the detailed study of a particular case (a person or small group).

Various methods of data collection and analysis are used but this typically includes

observation and interviews and may involve consulting other people and personal or public

records. The researchers may be interested in a particular phenomenon (e.g. coping with a

diagnosis or a move into residential care) and select one or more individuals in the respective

situation on whom to base their case study/studies. Case studies have a very narrow focus

which results in detailed descriptive data which is unique to the case(s) studied. Nevertheless,

it can be useful in clinical settings and may even challenge existing theories and practices in

other domains.

2) UNIVERSE OF THE STUDY:

Universe of the Study consists of all the banks working out of India. Banking industry of out

of India consists of the following segments. Following are some of the banks given below:-

a) NEO-
While these banks can be great backups and may meet some of your more cursory needs,

particularly US citizens and can

be somewhat limited in the services that they provide. Because these banks are primarily remote,
their ability to perform due diligence on their customers is more limited, which consequently

limits the types of services that these banks can provide.

b) HSBC
-

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c) PREMIER BANKING: DBS TREASURES

Of the three major banks in Singapore, DBS Treasures has the best premier banking

services for Nomad Capitalists.

DBS is fairly easy to deal with, and it has plenty of interesting investment banking

opportunities, including next-generation robo-investing.

d) TBC BANK
One of the most important aspects of an offshore bank is how easy it is to deal with,

and TBC Bank in Georgia is perhaps the easiest bank to deal with in the world.

Georgia is just generally an easy place to do business. As an emerging market, the country

wants your capital, and most Georgian businesses and banks will happily do business with you.

3) SAMPLE SIZE

Meaning of Sample

Sample means a small portion of the population taken up for intensive study purpose.

It is a small part of the entire population having similar characteristics of the

population. Sample selected acts as a representative of the whole universe.

Meaning of Sampling

Sampling is the process of selection of certain percentage of a whole group of items

as per predetermined plan. Sampling survey is better than census as the same benefits

are available and that too economically and quickly. Sampling is a better choice from the

point of view of time and money. Sampling is based on the law of statistical regularity and

the law of inertia of large numbers.

Sample size determination

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Sample size determination is the act of choosing the number of observations or replicates

to include in a statistical sample. The sample size is an important feature of any empirical

study in which the goal is to make inferences about a population from a sample.

In practice, the sample size used in a study is usually determined based on the cost,

time, or convenience of collecting the data, and the need for it to offer sufficient

statistical power. In complicated studies there may be several different sample sizes:

for example, in a stratified survey there would be different sizes for each stratum.

In a census, data is sought for an entire population, hence the intended sample size is

equal to the population.

4) SOURCES OF DATA

4.1 PRIMARY DATA

Primary data is data that is collected by a researcher from first-hand sources, using methods like

surveys, interviews, or experiments. It is collected with the research project in mind, directly

from primary sources.

4.2 SECONDARY DATA

Secondary data are useful in marketing research. Such data are collected by some other

agency for some other purpose. Secondary data are easily and readily available in the

published form and are used for the conduct of research activity. The secondary data

are collected through the structured literature review and also from the past records

maintained by the company.

3.5 LIMITATIONS OF STUDY

Offshore bank accounts are sometimes less financially secure than domestic ones.
For example, in the banking crisis which swept the world in 2008, some savers lost fund
that were not insured by the country in which they were deposited. Those who had
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