TO ANALYZE THE PERCEPTION OF CUSTOMER TOWARDS THE SERVICES OF AXIS BANK

DANISH SHARMA 1211310051

HISTORY OF INDUSTRY

THE WORD "BANK" REFLECTS THE ORIGINS OF BANKING IN TEMPLES. ACCORDING TO THE FAMOUS PASSAGE FROM THE NEW TESTAMENT, WHEN CHRIST DROVE THE MONEY CHANGERS OUT OF THE TEMPLE IN JERUSALEM, HE OVERTURNED THEIR TABLES. MATTHEW 21.12. IN GREECE, BANKERS WERE KNOWN AS TRAPEZITAI, A NAME DERIVED FROM THE TABLES WHERE THEY SAT. SIMILARLY, THE ENGLISH WORD BANK COMES FROM THE ITALIAN BANCA, FOR BENCH OR COUNTER.

THE HISTORY OF BANKING IS CLOSELY RELATED TO THE HISTORY OF MONEY AS MONETARY PAYMENTS BECAME IMPORTANT, PEOPLE LOOKED FOR WAYS TO SAFELY STORE THEIR MONEY. AS TRADE GREW, MERCHANTS LOOKED FOR WAYS OF BORROWING MONEY TO FUND EXPEDITIONS.

PUBLIC SECTOR BANKS

Among the Public Sector Banks in India, United Bank of India is one of the 14 major banks, which were nationalized on July 19, 1969. Its predecessor, in the Public Sector Banks, the United Bank of India Ltd., was formed in 1950 with the amalgamation of four banks viz. Camilla Banking Corporation Ltd. (1914), Bengal Central Bank Ltd. (1918), Camilla Union Bank Ltd. (1922) and Hooghly Bank Ltd.(1932). Oriental Bank of Commerce (OBC), Government of India Undertaking offers Domestic, NRI and Commercial banking services. OBC is implementing a GRAMEEN PROJECT in Dehradun District (UP) and SIRSA District (HARYANA) disbursing small loans. This Public Sector Bank India has implemented 14 point action plan for strengthening of credit delivery to women and has designated 5 branches as specialized branches for women entrepreneurs

PRIVATE SECTOR BANKS:

Private banking in India was practiced since the beginning of banking system in India. The first private bank in India to be set up in Private Sector Banks in India was IndusInd Bank. It is one of the fastest growing Bank Private Sector Banks in India. IDBI ranks the tenth largest development bank in the world as Private Banks in India and has promoted world class institutions in India. The first Private Bank in India to receive an in principle approval from the Reserve Bank of India was Housing Development Finance Corporation Limited, to set up a bank in the private sector banks in India as part of the RBI's liberalization of the Indian Banking Industry. It was incorporated in August 1994 as HDFC Bank Limited with registered office in Mumbai and commenced operations as Scheduled Commercial Bank in January 1995.

CURRENT STATUS
Axis Bank is the third largest private sector bank in India. Axis Bank offers a vast spectrum of services encompassing Large and Mid-Corporate Banking, SME Banking, Agri-Business Banking, Retail Banking and International Banking. Axis Bank has a network of over 1040 branches and over 4500 ATMs across the country. The branches, spread across more than 650 cities and towns, enable the Bank to reach out to a large cross-section of customers with an array of products and services catering to both the retail and the corporate segment. Axis Bank has presence in Singapore, Hong Kong, Shanghai and Dubai, and seeks to expand further its international presence. Axis Bank has the second largest EDC network, the third largest ATM network in India and also has the fourth largest base of debit cards in the country. The market capitalisation of the Bank as on June 29, 2010 was Rs. 50,114 crores (NSE) which makes the Bank the fourth largest in terms of market capitalization amongst the Banks in India.

PRODUCTS OF AXIS BANK:

1) ACCOUNTS Zero Balance Savings Account Easy Access Savings Account Prime Savings Account Salary Savings Account (The complete financial solution) Women's Savings Account Senior Citizen's Account

PRODUCTS OF AXIS BANK:

2) DEPOSITS Fixed Deposits Recurring Deposits Tax Saver Fixed Deposit

PRODUCTS OF AXIS BANK:

3) LIFE INSURANCE Met Bhavishya - This is a non-par money back policy that provides guaranteed returns that specially designed to meet childrens educational expenses at different Met Adv Plus - Unit-linked - Met Advantage Plus is a Unit-linked Pension Plan. It comes with the maximum number of advantages. For one, it ensures that you lead a comfortable lifestyle. Always. More importantly, it helps you plan ahead, keeping in mind the escalating cost Met Smart Plus - Met Smart Plus is a Unit Linked Life Insurance product, whole life plan that mature at the age 100. The premium paid is used partly for insurance cover and the balance is invested in funds to buy unit MET Suvidha- a flexible endowment plan, combines savings with security that provides the unique option of flexibility of choosing both, the term of the policy and the premium paying term. It gives the flexibility of choosing a term anywhere bt530

PRODUCTS OF AXIS BANK:

4) ONLINE TRADING SERVICES

5) INVESTMENT
6) Equity: 7) Mutual Fund:

8) CARDS DIVISION:
9) DEBIT CARD:

MEANING OF CUSTOMER PERCEPTION :

PERCEPTION IS A PROCESS BY WHICH INDIVIDUALS ORGANIZE AND INTERPRET THEIR SENSORY IMPRESSIONS IN ORDER TO GIVE MEANING TO THEIR ENVIRONMENT. IF EVERYONE PERCEIVED EVERYTHING THE SAME WAY , THINGS WOULD BE A LOT SIMPLER. MOORHEAD & GRIFFIN PERCEPTION MAY BE DEFINED AS A PROCESS BY WHICH INDIVIDUALS ORGANIZE AND INTERPRET THEIR SENSORY IMPRESSIONS N ORDER TO GIVE MEANING TO THEIR ENVIRONMENT. S. P. ROBBINS

PRINCIPLES OF PERCEPTION.

RESEARCH METHODOLOGY
RESEARCH IN COMMON PARLANCE REFERS TO A SEARCH FOR KNOWLEDGE. ONE CAN ALSO DEFINE RESEARCH AS: A SCIENTIFIC AND SYSTEMATIC SEARCH FOR PERTINENT INFORMATION ON A SPECIFIC TOPIC. RESEARCH METHODOLOGY IS A SYSTEMATIC WAY, WHICH CONSISTS OF SERIES OF ACTION STEPS, NECESSARY TO EFFECTIVELY CARRY OUT RESEARCH AND THE DESIRED SEQUENCING TO THESE STEPS. IT CONSISTS OF THE FOLLOWING STEPS: FORMULATING THE OBJECTIVE OF THE STUDY DESIGNING THE METHODS OF DATA COLLECTION SELECTING THE SAMPLE PLAN COLLECTING THE DATA

PROCESSING AND ANALYZING THE DATA

REPORTING THE FINDINGS

OBJECTIVE OF THE STUDY

THE OBJECTIVE OF THE STUDY CAN BE DIVIDED INTO TWO PARTS:

PRIMARY OBJECTIVE
SECONDARY OBJECTIVE

LIMITATIONS:-

LACK OF INTEREST SHOWN BY THE RESPONDENTS RESULTED IN INCOMPLETE RESPONSES. TIME PERIOD ALLOTTED FOR THE PROJECT COMPARED TO GEOGRAPHICAL AREA WAS QUITE LESS. POOR AND AMBIGUOUS RESPONSES WERE THERE BECAUSE OF SOME RESPONDENTS RESPONDED WITHOUT CLEARLY UNDERSTANDING THE QUESTIONS. BUT THIS WAS MINIMIZED AS FAR AS POSSIBLE BECAUSE THE INTERVIEWER ASSISTED THE RESPONDENTS. FINANCIAL CONSTRAINT: RESOURCES ALLOTTED

FACTS & FINDINGS

MOST OF THE RESPONDENTS ARE EITHER SERVICEMAN OR BUSINESSMAN. SERVICEMAN HAVE OCCUPIED A MAJOR CHUNK AND BUSINESSMAN HAS ALSO LIKED IT BUT THEIR CONTRIBUTION IN THIS BAR COULD BE SAID SATISFACTORY. MOST OF THE CUSTOMER WANTS QUICK SERVICE AND PROPER INFORMATION WHILE DEALING WITH THE PRODUCTS AND SERVICES OF AXIS. FACTOR LIKE LESS FORMALITIES OF DOCUMENT WHILE OPENING AN ACCOUNT AND VARIETY OF PRODUCT DO NOT MAKE A BIG IMPACT ON CUSTOMER BEHAVIOR. IT WAS FOUND FROM THE STUDY THAT BANK BELIEVES IN QUALITY SERVICE RATHER THAN QUANTITY OF SERVICE. THE OFFICIALS EMPLOYED ARE VERY MUCH ENTHUSIASTIC ABOUT THEIR JOB.

THE OFFICIALS TRY TO MAKE BEST RELATION WITH THE

 EFFECTIVE MARKETING RESEARCH ACTIVITIES SHOULD BE ORGANIZED. CUSTOMERS/CLIENTS COMPLAINTS SHOULD BE CONSIDERED AND TRY TO SHORT OUT WITH MINIMUM TIME. INCREASE THE SOURCES FOR RELIABLE INFORMATION. WE KNOW THAT THE PRODUCTS AND SERVICES OFFERED BY THE BANK ARE THE BEST BUT MORE OR LESS SIMILAR ARE OFFERED BY OTHER BANKS AS WELL E.G. CITIBANK, STANDARD CHARTERED ETC,SO PROMOTIONAL CAMPAIGNS ARE MUST IN THIS ERA OF STRINGENT COMPETITION.

RECOMMENDATIONS & SUGGESTIONS:

THE BANK SHOULD CONSISTENTLY TRY TO IMPROVE AND UPGRADE ITS TECHNOLOGY WITH THE GLOBAL STANDARD IN ORDER TO PROVIDE EXCELLENT CUSTOMER SATISFACTION ETHICAL CODES AND CONDUCTS SHOULD BE FOLLOWED BY

CONCLUSION:
CUSTOMER PERCEPTION MEANS CONSUMERS CAN EVALUATE A PRODUCT ALONG SEVERAL LEVELS. ITS BASIC CHARACTERISTICS ARE INHERENT TO THE GENERIC VERSION OF THE PRODUCT AND ARE DEFINED AS THE FUNDAMENTAL ADVANTAGES IT CAN OFFER TO A CUSTOMER. GENERIC PRODUCTS CAN BE MADE DISTINCT BY ADDING VALUE THROUGH EXTRA FEATURES, SUCH AS QUALITY OR PERFORMANCE ENHANCEMENTS. THE FINAL LEVEL OF CONSUMER PERCEPTION INVOLVES AUGMENTED PROPERTIES, WHICH OFFER LESS TANGIBLE BENEFITS, SUCH AS CUSTOMER ASSISTANCE, MAINTENANCE SERVICES, TRAINING, OR APPEALING PAYMENT OPTIONS. COMPARATIVE STUDY OF FINANCIAL PRODUCTS AND SERVICES OF AXIS BANK WITH OTHER BANKS SHOWS THAT 38 % CUSTOMER SATISFIED WITH THE PRODUCT AND SERVICES OF AXIS BANK. MOST OF THE PEOPLE WANT QUICK SERVICES AND PROPER

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