a research study on consumer satisfaction of private banking sector
TRANSCRIPT
Semester-VI
Under the Guidance of: Prof. Hetal Patel &
Prof. Kinjal Patel
Submitted To:
Rudra College of Business AdministrationVahelal
2014-2015
A Research Study on Consumer Satisfaction of Private Banking Sector
1. Gosai Minaxi D.2. Chauhan Chetan N.3. Patel Harshit S.4. Patel Vidhi D.5. Patel Purvi J.6. Rupala Anjali K.7. Patel Vedika N.8. Parmar Chandni N.9. Chauhan Twinkal P.10.Varma Poonam S.11.Malek Afsana A.12.Gajjar Parth V.
Group : B
Chapter: 1Introduction
Macro Analysis
Reserve Bank of India
The Reserve Bank of India was founded on 1st April 1935 after the First World War RBI was
conceptualized as per the guidelines, working style and outlook presented by Dr B. R. Ambedkar
as written in his book “The Problem of the Rupee – Its origin and its solution.” in front of the
Hilton Young Commission.
Dr. C.R. Rangarajan has received “THE BEST GOVERNER AWARD” on 15 th October 2014 by
British magazine central banking and also last year received award by yurom’s magazine as a
“BEST GOVERNER OF CENTRAL BANK ”
The Governor of RBI is Raghuram Rajan. There are 4 Deputy Governors in that
1. H R Khan,
2. Dr Urjit Patel,
3. R. Gandhi and
4. S. Mundra
History
5 Force High/low/medium Remark
1. Threat of new entrants Low Licensing requirement is very tough.
Product differentiation very difficulty
2. Threat of substitute products Medium NBFc, mutual fund, government
securities and t-bills increasing rapidly
3. Rivalry among competitors High Large number of banks
Low switching cost
High fixed cost
4. Bargaining power of
supplier
High Banks have to meet many regulatory
criteria, made by the RBI
5. Bargaining power of
customer
High Provides homogenous kinds of service
so there is high change that consumers
switch their bank
5 Force Model of Indian Banking Industry
Micro Analysis
The bank known as the Industrial Credit and Investment Corporation of India
before it changed its name to the Abbreviated ICICI Bank. India.
ICICI bank established in 1994.
Ms. Chanda Kochhar Managing Director and Chief Executive Officer of ICICI Bank
Limited
ICICI Bank is the 2nd largest private bank in India in terms of Assets and Market
capitalization.
The Bank has a network of 3,845 branches and 12,012ATMs in India, and also in 19
countries.
ICICI Bank launched internet banking operations in 1998.
The mission statement of ICICI Bank is “consists of several points, but the first is to become the first choice among customers by providing world-class services.”
Mission
Vision
The official vision statement of ICICI Bank is: "To be the leading provider of financial services in India and a major global bank."
SWOT AnalysisOf ICICI
AXIS BANK
Axis Bank starts its operations in 1994.
Shikha Sharma Managing Director and CEO of AXIS Bank.Axis Bank Limited is the 3rd largest private bank in India.
It was known as UTI earlier "Unit trust of India Ltd"
The Bank was promoted in 1993 jointly by the Administrator of the UTI,LIC, National
Insurance Company Ltd.
31st March-2014 the Bank had a network of 2,402 branches and 12,922 ATMs.
Mission
“We enhance the wealth management and financial planning capability of
individuals and organizational clients in world-class service rendering environment,
delivering superior and sustainable stakeholder value.”
Vision
“We aim to become one of the most trusted financial services providers with end-to-end financial consulting and advisory support and exceed the expectations of customers.”
Weakness1.Lesser no. of branches compared to its competitors
2. Image of the bank still under the shadow of the UTI debacle
SWOT AnalysisOf AXIS
Kotak Mahindra bank
Kotak Mahindra group, established in 1985 by Uday Kotak.
Kotak Mahindra Bank established in 2003.
Kotak Mahindra Bank is the 4th largest private bank in India.As on 30th September 2014, Kotak Mahindra Bank has over 641 branches ,1,159 ATMs spread
across 363 locations in the country.
Recently Kotak Mahindra Bank has acquisition ING vysya bank.Vision
“To be the most trusted Global Indian Financial Services brand and the most
preferred financial services employer with focus on creating value.”
Weakness
1. Lesser penetration as being late entrants2. Low publicity and marketing in the urban areas
SWOT AnalysisOf KOTAK
HDFC BANK
HDFC is stands for Housing Development Finance Corporation Limited. Chairman Mr. C.M. Vasudev Managing Director Mr. Aditya PuriIt is the fifth largest bank in India by assets, incorporated in 1994.
According to the Brand Trust Report 2014 HDFC was ranked 32nd India's most trusted brands.
As of 31st March 2013, the company has 69,065 employees, out of which 12,295 are women.
As of 30th September 2013, HDFC Bank has 3,251 branches and 11,177 ATMs, in 2,022 cities
in India.
“To provide a package of attractive financial services for housing purposes through
a competent and motivated team of employees using the state of the art technology
to maintain financial stability and growth of the organization whilst contributing to
the national goal of providing decent housing to all.”
“To be customer driven best managed enterprise that enjoys market leadership in
providing housing related finance.”
Mission
Vision
Weakness
1.Rural penetration is low
2.Lesser no. of branches when compared with its competitors
SWOT AnalysisOf HDFC
Chapter: 2Research Methodology
“A Research Study on consumer satisfaction of private banking sector”
Problem Statement
Needs and Importance of Research
1. On the completion of research one may have the satisfaction of acquiring new ideas which ultimately improve the overall structure.
2. With the help of research methodology we know the customer satisfaction in a particular bank, industry and organisation.
Objective of study
1.Primary objective: “A Research Study on consumer satisfaction of private banking sector”
2.Secondary objective: Secondary objective for the purpose of data collection we use the Questionnaires.
•To find out how many people have bank account.•To analyze in which bank people have bank account•To know which service people get from bank.•To know how many people use online banking.
1. Research method - Survey Method2. Types of Questionnaires – Structured Questionnaires
Research Design
Sample Design
1. Sample Units - Banking Sector2. Sample Size - 100 Questionnaires 3. Sample Plan - Survey and Questionnaires4. Sample Extent - Ahmedabad only5. Sample Method - Convenience Method
Method of data collectionSurvey Method
1. Primary sources:
Research methodology
2. Secondary sources:
Secondary data analysis can be literally defined as “second-hand” analysis.
In that Newspapers, Books, magazines, and other sources of secondary data.
Sources of Data
Someone else has already collected the data, so the researcher saves money, time,
energy, and other resources to this research.
Limitation of study
1. It takes longer for the respondent to complete questions.
2. This is a problem as a smaller sample size may be obtained.
3. Answerer may not feel encouraged to provide accurate or honest answers.
4. There was language barrier.
Chapter: 3
Data Analysis and Interpretation
•General Information:
1.Age
<20 21-30 31-40 40>0%
5%
10%
15%
20%
25%
30%
35%
40%
30%37%
14%19%
AGE
AGE
2. Gender
Male Female0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
78%
22%
Gender
Gender
3. Occupation
Student
Job
Business
man
Housewife
0%5%
10%15%20%25%30%35%40%
35%28% 32%
5%
Occupation
occupation
4. Income
Below 1,00,000
1,00,000-2,00,000
2,00,000-5,00,000
Above 5,00,000
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
31.25%31.25%
21.87%15.63%
Income
Income
YES NO0%
20%
40%
60%
80%
100%
120%
97%
3%
Bank Account
Bank account
1.Do you have Bank account ? 2.If yes, then in which bank you
have account ?
Private public both0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
68.04%
14.43% 17.53%
Bank
BANK
AXIS HDFC KOTAK ICICI OTHERS0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
24.42%
18.60% 17.44%19.77% 19.77%
Private Banks
Private Banks
3. If private , then in which bank do you have account ?
4. Which type of account do you have in this particular bank ?
Saving Account
Loan Account
Fixed Account
Current Account
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
53.95%
8.85% 13.27%
23.93%
Bank Account
Bank Account
online b
anking
Mobile ban
king
credit c
ardATM
Telephone b
an...
others0.00%5.00%
10.00%15.00%20.00%25.00%30.00%35.00%40.00%45.00%
24.27%16.91% 15.44%
38.23%
0.74% 4.41%
Services
Services
5. If, yes than which service you get from bank ?
YES NO0.00%
10.00%20.00%30.00%40.00%50.00%60.00%70.00%80.00%90.00%
100.00%
95.18%
4.82%
Satisfied With Services
Satisfied with Services
6. Are you satisfied with the services provided by the private banks ?
7. Are you using online banking?
YES NO0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
59.04%
40.96%
Online Banking
Online Banking
YES NO0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
59.04%
40.96%
Benefit From Online Banking
Benefit from online banking
8..If yes, then you are getting benefit from the online banking?
Possitive Negative Can't say0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
90.00%
80.72%
3.62%15.66%
Reaction of customer after the Bank computerization
9. In your opinion what was the reaction of customers regarding service efficiency after the bank computerization.
25.93%
7.40%37.04%
4.94%
18.52%
6.17%
Rank 1Personalized Service
Wide Branch Networking
Customer Services
Core Banking
Computerised Banking
Problem Solving
10. Give the rank of the services which provided by your bank.
19.32%
12.50%
19.32%
7.95%
28.41%
12.50%
Rank 2Personalized ServiceWide Branch NetworkingCustomer ServicesCore BankingComputerised BankingProblem Solv-ing
15.00%
16.25%
22.50%
7.50%
23.75%
15.00%
Rank 3
Personalized ServiceWide Branch NetworkingCustomer ServicesCore BankingComputerised BankingProblem Solving
14.46%
19.28%
13.25%
30.12%
10.84%
12.05%
Rank 4
Personalized ServiceWide Branch NetworkingCustomer ServicesCore BankingComputerised BankingProblem Solving
14.29%
14.29%
4.76%33.33%
10.71%
22.62%
Rank 5Personalized Service
Wide Branch Networking
Customer Services
Core Banking
Computerised Banking
Problem Solving
12.19%
25.61%
3.66%20.73%7.32%
30.49%
Rank 6
Personalized ServiceWide Branch NetworkingCustomer ServicesCore BankingComputerised BankingProblem Solving
YES NO0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
75.90%
24.10%
Transaction Tracking sys-tem
Transaction Tracking system
11. Is your banks have a transactions Tracking system ? 12.If yes, than is it helpful for you?
YES NO0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
75.90%
24.10%
Transaction Tracking system Helpful or not
Transaction Tracking system Helpful or not
Excellent Very Good Good Bad0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
40.00%
45.00%
50.00%
22.89%
46.99%
26.51%
3.61%
Service Quality
Service Quality
13. What do you feel about the overall service quality of bank?
Fixed Deposit
Insurance Mutual Fund
Shares Others0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
40.00%
45.00%
50.00%
45.46%
23.23%
9.09% 10.10% 12.12%
Investment
Investment
14.What you prefer for investment ?
Yes No0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
90.00%
100.00%
86.75%
13.25%
Competitive Intrest Rate
Competitive Intrest Rate
15.Do you think your bank offers competitive intrest rate in your investment?
Less than 6 months
6 months to 1 years
1 years to 3 years
3 years to 5 years
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
40.00%
12.50%
34.72%30.55%
22.23%
Time Period to Investment
Time Period to Investment
16.If, yes then for what time of period do you like to invest ?
Yes No0.00%
20.00%
40.00%
60.00%
80.00%
100.00%
120.00%
98.80%
1.20%
Trust on Your Bank
Trust on Your Bank
17.Do you trust on your bank? 18.Would you recommend this bank to your friends,relatives,associates?
Yes No0.00%
20.00%
40.00%
60.00%
80.00%
100.00%
120.00%
98.80%
1.20%
Recommed This Bank to Your Friends and Relatives
Chapter: 4 Findings
We find out 97% consumers have bank account.
To analyse 68.04% have a private bank account 14.43% have a public account and 17.53% have both account.
To know 95.18% consumers are satisfied with the services provided by private bank and 4.82 % are not satisfied.
To know 59.04% consumers are using online banking and 40.96% are not using online banking.
Recently ICICI bank has launched new service for the consumers are contactless credit card & debit card and with the help of twitter transfer the fund.
HDFC bank has started new service “BANK APAKI MUTTHI MEIN” for the consumers.
Chapter: 5Conclusion
Consumer are satisfied with the ATM for withdraw cash eassily without go to bank and also
using the online banking for any time.
Now a days mostly consumers are use private banks for get extra benefits.
Mostly consumer are give positive reaction regarding bank computerization.
We find out that consumer are not satisfied with the problem solving services of their banks.
