final report_tanu chadha

A REPORT

ON

HNW Initiatives and Customer Feedback

Survey for HNW Clients

BY

TANU CHADHA

13BSPHH010705

HDFC BANK LIMITED ,SECTOR 8C,CHANDIGARH BRANCH

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A REPORT ON

HNW Initiatives and Customer Feedback

Survey for HNW Clients

BY

TANU CHADHA

13BSPHH010705

HDFC BANK LIMITED ,SECTOR 8C,CHANDIGARH BRANCH

A report submitted in partial fulfillment of the requirements of MBA program of IBS Hyderabad.

Distribution List

Anita Rana

(Company guide)

Ajay Choudhary

(Head Relationship Manger -Retail Banking at sector 8 branch)

Dr D S Prasad

(Faculty guide, IBS Hyderabad)

Date of Submission:16th May,2014

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AUTHORIZATION

This is to certify that the project entitled “HNW INITIATIVES

AND CUSTOMER FEEDBACK SURVEY FOR

HNW CLIENTS.”’ is submitted by Tanu Chadha, towards

partial fulfillment of the requirement of MBA Program at IBS

Hyderabad. The work has been done under my guidance and the

report has not been submitted to any other authority before.

Anita Rana

Branch Manager

HDFC bank

Phase 2,Industrial Area

Chandigarh

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ACKNOWLEDGMENT

I am immensely thankful to Mr. Iqbal Singh Circle Head HDFC Bank Chandigarh for

giving me the opportunity to carry out my project work in this esteemed organization.

I express my earnest thanks and gratefulness to my project guide ,Mrs. Anita Rana ,

Branch Manager , HDFC bank phase 2 Industrial Area, Chandigarh and Mr. Ajay

Choudhary(Head Relationship Manger -Retail Banking at sector 8 branch) their

constant supervision , a new insight at every stage, and above all a helpful attitude stood by

me throughout the training tenure. The keen interest they took in my progress through all

stages of the project constantly motivated me to achieve perfection in all my endeavors and

made my training a learning and rewarding experience .

The satisfaction , which accompanies the successful completion of any task is incomplete

without the mention of the names of those people who made it possible , because success

may be the epitome of one’s hard work , perseverance and determination cant be achieved

without someone ‘s encouraging guidance and advice which serve as beacon light and crown

one’s effort with success so therefore I take this opportunity to specially thank Mr. Kunal

Raheja (relationship manager HDFC bank) and Mr. Harsehaj Sarang (relationship

manager HDFC bank). Without your guidance and help I would have not been able to

complete my project with ease.

I express my profound gratitude to my faculty guide Dr. DS Prasad for always

understanding me and helping me whenever I got struck and motivating me to complete the

task . Thank you so much Sir.

Finally , I express my heartfelt gratitude to each and every individual who have been

associated with my project work including those whom I may have inadvertently failed to

mention .

Regards

Tanu Chadha.

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EXECUTIVE SUMMARY

The project is directed towards developing an insight into initiatives taken by HDFC for its

High Net Worth (HNW)clients and the various products designed for them. It is all about the

initiatives taken by HDFC for increasing customer satisfaction and customer delight so that

customers can enjoy the world class banking experience. The objective of the project is

analyzing customer satisfaction and gathering feedback of HDFC customers. I worked

on understanding different aspects of retail banking and different programs of HDFC for its

HNW clients. During the internship I learned different aspects of net banking and different

banking channels which includes net banking itself. I met customers of HDFC bank and

discussed about different products and value added services of the bank .

HNW clients primarily divided into different programs as follows-

IMPERIA, PREFERRED and CLASSIC.

Over All Learning is-

1.How acquisition of new customers is done.

2. Understanding the steps taken by the bank for enhancing the relationship by cross-

selling products and services as per the profile and need of the customers.

3. Deepening the size of the relationship.

4. Retention of the customers by providing the best possible services and being the

dedicated point of contact of these customers.

So basically the internship was all about Relationship Management for the imperia, preferred

and classic HDFC customers.

This relationship management helps HDFC in following ways

HDFC bank becomes the primary bank for these Preferred Customers.

Maximum share of wallet of these customers is with HDFC bank.

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The internship has helped me in Understanding the HDFC organization and different aspect of it like its

policies ,structure, values etc.

Understanding the working of relationship manager.

Understanding different initiatives of HDFC bank

Analyzing customer behavior in terms of over-all satisfaction and suggesting changes

in products according to the findings.

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TABLE OF CONTENT

CONTENT Pg#

Authorization i

Acknowledgments ii

Executive Summary iii

1.Introduction 1.

2.Banking Sector Analysis 4.

2.1 PEST Analysis of Banking Sector-4pg#

2.2 Michael Porter Analysis of Banking Sector-9pg#

3.About HDFC 14.

3.1 Promoters-14pg#

3.2 Vision-15pg#

3.3 Mission-15pg#

3.4 Business Profile-15pg#

3.5 Distribution Network-17pg#

3.6 Technology-17pg#

3.7 Capital Structure-18pg#

3.8 Organizational Policies-20pg#

3.9 Core Values-23pg#

3.10 Management of the Bank-25pg#

4.Organizational Hierarchy(sector8c branch) 26.

5.Analysis of HDFC

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27.

CONTENT Pg#

5.1 Strategies of HDFC Bank-27pg#

5.2 SWOT Analysis-30pg#

5.3 HDFC Financial Summary-32pg#

5.4 HDFC Financial Ratio Analysis-36pg#

6. Major Products of HDFC 38.

6.1 Saving Regular Account-38pg#

6.2 Saving Account Pension-38pg#

6.3 Saving Max Account-39pg#

6.4 Senior Citizen Saving Account-39pg#

6.5 Kids Advantage Account-40pg#

6.6 Family Saving Group-40pg#

6.7 No Frills Account-40pg#

6.8 Women Saving Account-41pg#

6.9 Cross Selling Products-41pg#

7. Direct Banking Channels 42.

7.1 Net Banking-42pg#

7.2 Phone Banking-44pg#

7.3 Mobile Banking-44pg#

8.HNW Programs of HDFC 46.

8.1 Imperia-46pg#

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8.2 Preferred-47pg#

8.3 Classic-48pg#

CONTENT Pg#

9.Research Methodology 49.

9.1 Purpose-49pg#

9.2 Scope-49pg#

9.3 Area of Internship-49pg#

9.4 Objective-49pg#

9.5 Source of Data and Method of Data Collection-49pg#

9.6 Questionnaire Design-50pg#

9.7 Sample Size-50pg#

9.8 Software Used-50pg#

9.9 Limitations-50pg#

10.Graphical Representation of data 51.

11.Findings 59.

12.Conclusion 61.

13.Recommendations 62.

Annexure v.

Bibliography ix.

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INTRODUCTIONBanking is one the main drivers of the service industry. As the service industry has boomed,

the competition faced by the banks essentially private banks, has increased. So, in order to

maintain an edge above the others, the key elements that a bank needs to focus upon is to

increase customer satisfaction and customer delight by providing different value added

services and improving quality of services it offers. These enable a bank to get a competitive

advantage over the others.

In India banking sector is one of the most regulated sector in the economy. When Indian

Government allowed private banks to operate in the nation many banks came into existence

and gave a tough competition to various nationalized players. Private banks won over most

nationalized banks because of the quality of services they offered to their customers.

Private banks are more profitable compared to most nationalized banks.

There was a time when no one used to trust private banks for the banking needs. But, the

time has changed now. Many private banks now come in the list of top 10 banks in the

country. The wreath for this healthy change goes to the hard work done by the folks over

private banks. With attractive interest rates, bonus offers, the private banks have got success

in attracting customers. The private banks are known for their friendly and speedy service.

Since service plays a vital role in the banking sector, therefore the private banks have become

the favorite of many people.

Here is the list of top Banks in India as given by www.bankindia.org posted on April

24,2013 by Mr. Suraj Tandon in bank news.

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State Bank of India State Bank of India was established in July, 1955 with the intention to provide top-

notch banking services to people living in India.

With more than 16,000 branches in the country and 8500+ ATMs, the SBI is serving

the Indians very well. Since this is a Government bank, so it works on the ways to

provide maximum facility and benefits so its customers.

ICICI Bank With its first-class service and proper care for every single customer, this private

bank has been following the up curve in customers’ count.

The ICICI bank is known for providing speedy service and good friendly staff. It has

more than 1400 branches and 4600 ATMs.

Punjab National Bank Punjab national bank was founded in year 1895, and is now based in New Delhi. It

has more than 5000 branches across 764 cities.

The bank serves more than 37 million customers which is more than enough to speak

about the popularity of bank.

Bank of Baroda This Indian state-owned bank was established in year 1908. It has around 4261

branches and 2000 ATMs across the country.

Canara Bank This bank was founded by Late A Subba Rao Pai on Jul 1, 1906 in Mangalore. As of

December 2011, this bank had 3564 branches across different cities of India, and

4000 ATMs.

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HDFC Bank This bank was incorporated in August 1994. As of December 2012, HDFC Bank had

2,776 branches and 10,490 ATMs across 1,399 cities in the country.

Bank of India Bank of India is an Indian state-owned bank which was founded in year 1906. As of

21 April 2012, 4187 branches which include the 52 branches that are outside India. It

had 1679 ATMs at that time. Of course, the count is more now.

IDBI Bank This bank has been categorized by RBI as “other public sector bank“. It was

established in year 1964. It has more than 1594 ATMs and 1000 branches which

include some overseas branches as well.

Axis Bank Axis bank was established in year 1994. It has 729 branches and 3171 ATMs in

country. It is one of most popular bank in India.

Union Bank of India The last one in this list of top 10 banks in India, is the Union Bank of India. This bank

was established on 11 November, 1919. The bank has around 3,200 ATMs in the

country

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BANKING SECTOR ANALYSIS

PEST ANALYSIS OF BANKING INDUSTRY PEST Analysis is the marketing tool which helps us in understanding macro environment

factors which affect the organisation.

PESTEL STANDS FOR

P-Political

E-Economic

S-Social

T-Technological

POLITICAL FACTORSThe Indian banking Industry is mostly dependent on the monetary policy decided by the RBI

Stricter regulations with respect to capital and liquidity directly affects the business of banks.

Banks need to adjust their interest rates accordingly, which may or may not favour them

Banks are forced to lend as per the guidelines of RBI, that includes credit growth in all

sectors Budgetary Measures announced by the government at the beginning of every financial

year also lay down guidelines to banks to lend or accept deposits The government can also

increase credit in particular sectors such as increase in farm credit, increase in infrastructure

credit etc.(priority lending) Sometimes the government gives debt waivers to certain sections

of the society that need to be adhered to by banks as well

To use a cliché, there will be a tectonic shift in the Indian banking landscape in 2014. Both

the body and the soul of the Rs.80 trillion banking industry will change. A set of new banks

will get the regulator’s approval, some foreign banks operating in India may decide in favor

of local incorporation to get near-national treatment, and new norms for early recognition of

financial distress and faster resolution and recovery will help curb rising bad assets and

improve the health of the banking system.

In 1969 the Indian government nationalised all the major banks that it did not already own

and these have remained under government ownership. They are run under a structure know

as 'profit-making public sector undertaking' (PSU) and are allowed to compete and operate as

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commercial banks. The Indian banking sector is made up of four types of banks, as well as

the PSUs and the state banks, they have been joined since the 1990s by new private

commercial banks and a number of foreign banks.

A day after the exit polls set the market on fire, a Reserve Bank of India (RBI) panel report

has recommended that the government should divest its stake in state-owned banks to less

than 50%, allow private equity houses to own 40% in distressed banks, and strip managers of

private sector banks of their bonuses and Esops if they are caught ever-greening sticky

loans. It has also said that RBI — and not the finance ministry — should have the last word

on regulation of public sector banks which command 70% of the market share. "Boards (of

PSU banks) are disempowered, and the selection process for directors is increasingly

compromised," said the report. The recommendations have the potential to transform Indian

banks.

The panel has proposed an age limit of 65 years for CEOs and whole time directors of private

sector banks. Once implemented, lenders like IndusInd Bank BSE 5.24 % and HDFC Bank

BSE 2.11 % would have to identify successors for Romesh Sobti and Aditya Puri in next two

years.

While new banks and locally incorporated foreign banks will rewrite the rules of the game,

RBI’s initiative to clean up bad loans will add strength to the banking system. The

combination of bad and restructured loans is at least 10% of total banking assets in India. The

new norms will give incentives to banks to detect the first sign of a loan turning bad and take

remedial steps and, at the same time, they will make life difficult for rogue borrowers. At the

next stage, RBI will probably focus on reforming state-run banks that account for about 70%

of banking assets, but lack the skill to manage them and aren’t smart enough to say no when

it comes to taking exposure to some sectors. Overall, 2014 will be action-packed; banks

cannot ask for a more exciting time.

ECONOMIC FACTORSEconomic factors in the country also effect the Banking Industry both favorably or

unfavorably. When the economy is in good shape in terms of high per capita income, good

agriculture harvest and normal inflation, banks have an edge as people are left with more

money to deposit them with banks. This helps in more capital formation as more deposits can

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be realized. Also In the times of economic boom, more and more FDI is brought into India

through banking channels, that actually improves business for banks and the economy in

general Economic prosperity encourages lending business for the banks but in times of

recession banks face tough times to recover their money, issue fresh credit and NIMs are

lower too

Every year RBI declares its 6 monthly policies and accordingly the various measures and

rates are implemented which has an impact on the banking sector. The Economic measures

affects the banking sector to boost the economy by giving certain concessions or facilities. If

in the savings are encouraged, then more deposits will be attracted towards the banks and in

turn they can lend more money to the agricultural sector and industrial sector, therefore,

booming the economy. If the FDI limits are relaxed, then more FDI are brought in India

through banking channels

FDI POLICIESBanking Sector Private

Percentage of Equity /FDI Capital- 74% including investment by FIIs/FPIs

Entry Route- Automatic up to 49%, Government route beyond 49% and up to 74%

Other Conditions:

(1) This 74% limit will include investment under the Portfolio Investment Scheme (PIS) by

FIIs/FPIs, NRIs and shares acquired prior to September 16, 2003 by erstwhile OCBs, and

continue to include IPOs, Private placements, GDR/ADRs and acquisition of shares from

existing shareholders.

(2) The aggregate foreign investment in a private bank from all sources will be allowed up to

a maximum of 74 per cent of the paid up capital of the Bank. At all times, at least 26 per cent

of the paid up capital will have to be held by residents, except in regard to a wholly-owned

subsidiary of a foreign bank.

(3) The stipulations as above will be applicable to all investments in existing private sector

banks also

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Monetary and Liquidity Measures

On the basis of an assessment of the current and evolving macroeconomic situation, it has been decided to:

keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 8.0 per

cent;

keep the cash reserve ratio (CRR) of scheduled banks unchanged at 4.0 per cent of net

demand and time liability (NDTL); and

increase the liquidity provided under 7-day and 14-day term repos from 0.5 per cent of NDTL

of the banking system to 0.75 per cent, and decrease the liquidity provided under overnight

repos under the LAF from 0.5 per cent of bank-wise NDTL to 0.25 per cent with immediate

effect.

Consequently, the reverse repo rate under the LAF will remain unchanged at 7.0 per cent, and

the marginal standing facility (MSF) rate and the Bank Rate at 9.0 per cent.

INFLATION RATE

The average Inflation Rate in 2014 is 6.89% (based on CPI-Consumer Price Index)

Elevated borrowing costs have added to manufacturers' woes after the Reserve Bank

of India (RBI) hiked interest rates three times between September and January to curb

stubborn inflation which has showed no signs of easing even as growth tumbled.

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SOCIAL FACTORSThe Indian banking system has been progressing rapidly. There are still several untapped

rural markets, despite the large number of banks in India Many farmers still take loans from

moneylenders at a very high interest rate and small-scale industries continue to remain

important for banks However changes could be expected in the near future for the

unorganized sector. The growing population of India is a great opportunity for Indian banks

as a lot of people in the country want to open a bank account and develop good savings habit.

Changing lifestyle of the Indian urban population who wants easy ways of financing to their

desires

TECHNOLOGICAL FACTORSInformation technology is one of the most important facilitators for the transformation of the

Indian banking industry in terms of its transactions processing as well as for various other

internal systems and processes. The various technological platforms used by banks for the

conduct of their day to day operations, their manner of reporting and the way in which

interbank transactions and clearing is affected has evolved substantially over the years.

The technological evolution of the Indian banking industry has been largely directed by the

various committees set up by the RBI and the government of India to review the

implementation of technological change. No major breakthrough in technology

implementation was achieved by the industry till the early 80s, though some working groups

and committees made stray references to the need for mechanization of some banking

processes. This was largely due to the stiff resistance by the very strong bank employees

unions. The early 1980s were instrumental in the introduction of mechanization and

computerization in Indian banks. This was the period when banks as well as the RBI went

very slow on mechanization, carefully avoiding the use of ‘computers’ to avoid resistance

from employee unions. However, this was the critical period acting as the icebreaker, which

led to the slow and steady move towards large scale technology adoption

Banks have changed in their operations and moved towards universal banking along with the

increased usage of technology and technology-based services offering alternate channels such

as smart cards, ATMs, usage of the internet, mobile and social banking. Banks have started

deploying core banking, human resource management (HRM) and enterprise risk (ERP)

management and process re-engineering etc to improve on their performance and

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productivity. Majority of banks are insisting on cashless and paperless payment modes.

According to a KPMG study, a research analysts says, as of FY2012, non-cash payments

constituted 91 per cent in value terms as compared to 88 per cent in FY in 2010 and 48 per

cent in terms of value from 35 per cent in FY 2010. A bank analyst says the payments made

through cheques in total non-cash transaction too has come down to 52 per cent from 83 per

cent in volume terms, and to nine per cent from 85 per cent in value terms during between FY

2006 and FY 2012.

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MICHAEL PORTER ANALYSIS OF BANKING

INDUSTRY

THREAT OF NEW ENTRANTS(LOW) Despite the regulatory and capital requirements of starting a new bank, between 1977 and

2002 an average of 215 new banks opened each year according to the FDIC. With so many

new banks entering the market each year the threat of new entrants should be extremely high.

However, due to mergers and bank failures the average number of total banks decreases by

roughly 253 a year cause the industry deals with other people's money and financial

information new banks find it difficult to start up. Due to the nature of the industry people are

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more willing to place their trust in big name, well known, major banks who they consider to

be trustworthy.

" The Reserve Bank of India (RBI) seems ready to issue in-principle licences to a third set of

new banks in the world’s tenth largest economy after it hears from the Election Commission

(EC). Depending on the EC’s stance, it can happen as early as next week or post the April-

May general election. In other words, the ball is now in the EC’s court. RBI has taken four

years to complete the exercise. Former finance minister Pranab Mukherjee announced that a

new set of private players would be allowed to set up banks in February 2010.Twenty-five

companies have applied for licences but less than half a dozen may get RBI clearance."-this

news has given rise to threat of new entrants in banking industry. but according to a top

HDFC executive "I think the market is large enough to support the growth of more new

private-sector banks," HDFC Bank deputy managing director Paresh Sukthankar said at an

IIFL Investor Conference in Mumbai

Factors affecting new entrants in banking sector:

Government Licensing and RBI regulations

Skills manpower

High Initial investment

POWER OF SUPPLIERS (MEDIUM TO HIGH)

Capital is the primary resource on any bank and there are four major suppliers (various other

suppliers [like fees] contribute to a lesser degree) of capital in the industry.

1. Customer deposits.

2. mortgages and loans.

3. mortgage-backed securities.

4.Loans from other financial institutions

By utilizing these four major suppliers, the bank can be sure that they have the necessary

resources required to service their customers' borrowing needs while maintaining enough

capital to meet withdrawal expectations.

The power of the suppliers is largely based on the market, their power is often considered to

fluctuate between medium to high.

Factor affecting bargaining power of suppliers

Rise in investment avenues

Providers of funds

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Interest rates

Valuations

The economic outlook

Role of RBI

POWER OF BUYERS(LOW)The individual doesn't pose much of a threat to the banking industry, but one major factor

affecting the power of buyers is relatively high switching costs. If a person has one bank that

services their banking needs, mortgage, savings, checking, etc, it can be a huge hassle for that

person to switch to another bank. To try and convince customers to switch to their bank they

will often times lower the price of switching, though most people still prefer to stick with

their current bank. The internet has greatly increased the power of the consumer in the

banking industry. The internet has greatly increased the ease and reduced the cost for

consumers to compare the prices of opening/holding accounts as well as the rates offered at

various banks.

Factors affecting power of buyers

Long-term finance.

Margins and volumes.

Multiple Options

Banks Competitors

Retail lending

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THREAT OF SUBSTITUTES(BASICALLY FROM NON

FINANCIAL CORPORATION/UNORGANISED SECTOR)Some of the banking industry's largest threats of substitution are not from rival banks but

from non financial competitors

The industry does not suffer any real threat of substitutes as far as deposits or withdrawals,

however insurances, mutual funds, and fixed income securities are some of the many banking

services that are also offered by a non banking companies. There is also the threat of payment

method substitutes and loans are relatively high for the industry. For example, big name

electronics, jewelers, car dealers, and more tend to offer preferred financing on "big ticket"

items. Often times these non-banking companies offer a lower interest rates on payments

then the consumer would otherwise get from a traditional bank loan.

Factors affecting substitution

Close customer relationships,

Conservative Customers

Risk taking customers attitude.

Switching costs

COMPETITIVE RIVALRY

The banking industry is considered highly competitive. The financial services industry has

been around for hundreds of years, and just about everyone who needs banking services

already has them. Because of this, banks must attempt to lure clients away from competitor

banks. They do this by offering lower financing, higher rates, investment services, and

greater conveniences than their rivals. The banking competition is often a race to determine

which bank can offer both the best and fastest services, but has caused banks to experience a

lower ROA (Return on Assets). Given the nature of the industry it is more likely to see

further consolidation in the banking industry. Major banks tend to prefer to acquire or merge

with other banks than to spend money marketing and advertising.

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Lets us see the top leading private bank of India in terms of their market

capitalization. (as on May 15,2014)

We can see from the following table that HDFC bank is leading in terms of market

capitalization.

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Company Name Market Cap(Rs. cr)

HDFC Bank 189,225.61

ICICI Bank 160,983.63

Axis Bank 78,314.40

Kotak Mahindra 66,635.31

IndusInd Bank 28,110.16

Yes Bank 18,888.50

ING Vysya Bank 11,503.83

Federal Bank 8,737.04

JK Bank 8,735.22

Karur Vysya 4,163.50

City Union Bank 3,507.49

South Indian Bank 3,270.91

Karnataka Bank 2,373.05

DCB Bank 1,555.83

StanChart IDR 1,452.00

Lakshmi Vilas 897.07

Dhanlaxmi Bank 475.40

Goldman BEES 281.09

ABOUT HDFC

HDFC Bank was incorporated in August 1994 and currently has an nationwide network

of 3,336 Branches and 11,473 ATM's in 2,104 Indian towns and cities. The Housing

Development Finance Corporation Limited (HDFC) was amongst the first to receive an

'in principle' approval from the Reserve Bank of India (RBI) to set up a bank in the private

sector, as part of RBI's liberalization of the Indian Banking Industry in 1994. The bank

was incorporated in August 1994 in the name of 'HDFC Bank Limited', with its registered

office in Mumbai, India. HDFC Bank commenced operations as a Scheduled Commercial

Bank in January 1995.

HDFC is India’s premier housing finance company and enjoys an impeccable track

record in India as well as in international markets. Since its inception in 1977, the

Corporation has maintained a consistent and healthy growth in its operations to remain

the market leader in mortgages. Its outstanding loan portfolio covers well over a million

dwelling units. HDFC has developed significant expertise in retail mortgage loans to

different market segments and also has a large corporate client base for its housing

related credit facilities. With its experience in the financial markets, a strong market

reputation, large shareholder base and unique consumer franchise, HDFC was ideally

positioned to promote a bank in the Indian environment.

Promoter

HDFC is India’s premier housing finance company and enjoys an impeccable track

record in India as well as in international markets. Since its inception in 1977, the

Corporation has maintained a consistent and healthy growth in its operations to remain

the market leader in mortgages. Its outstanding loan portfolio covers well over a million

dwelling units. HDFC has developed significant expertise in retail mortgage loans to

different market segments and also has a large corporate client base for its housing

related credit facilities. With its experience in the financial markets, strong market

reputation, large shareholder base and unique consumer franchise, HDFC was ideally

positioned to promote a bank in the Indian environment.

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Vision To build a World-Class Indian Bank

Mission Use Enabling Technology to provide valued added products and services to customers. The

objective is to build sound customer franchises across distinct businesses so as to be the

preferred provider of banking services for target retail and wholesale customer segments, and

to achieve healthy growth in profitability, consistent with the bank’s risk appetite. The bank

is committed to maintain the highest level of ethical standards, professional integrity,

corporate governance and regulatory compliance.

Business Profile 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 corporate 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 corporate

including multinationals, companies from the domestic business houses and prime public

sector companies. It is recognized as a leading provider of cash management and

transactional banking solutions to corporate customers, mutual funds, stock exchange

members and banks.

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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

liberalization of the financial markets in India, corporate 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

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, Net-Banking 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

is also one of the leading players in the "merchant acquiring" business. The Bank is well

positioned as a leader in various net based B2C opportunities including

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Distribution Network HDFC Bank is headquartered in Mumbai. As of March 31, 2014, the Bank’s distribution

network was at 3,403 branches in 2,171 cities. All branches are linked on an online real-time

basis. Customers in over 1397 locations are also serviced through Telephone Banking. The

Bank’s expansion plans take into account the need to have a presence in all major industrial

and commercial centres, where its corporate customers are located, as well as the need to

build a strong retail customer base for both deposits and loan products. Being a clearing /

settlement bank to various leading stock exchanges, the Bank has branches in centres where

the NSE / BSE have a strong and active member base.

The Bank also has a network of 11,256ATMs across India. HDFC Bank’s ATM network

can be accessed by all domestic and international Visa / MasterCard, Visa Electron /

Maestro, Plus / Cirrus and American Express Credit / Charge cardholders.

Technology

HDFC Bank operates in a highly automated environment in terms of information technology

and communication systems. All the bank’s branches have online connectivity, which enables

the bank to offer speedy funds transfer facilities to its customers. Multi-branch access is also

provided to retail customers through the branch network and Automated Teller Machines

(ATMs).

The Bank has made substantial efforts and investments in acquiring the best technology

available internationally, to build the infrastructure for a world class bank. In terms of core

banking software, the Corporate Banking business is supported by Flex cube, while the Retail

Banking business by Fin ware, both from i-flex Solutions Ltd. The systems are open, scalable

and web-enabled.

The Bank has prioritized its engagement in technology and the internet as one of its key goals

and has already made significant progress in web-enabling its core businesses. In each of its

businesses, the Bank has succeeded in leveraging its market position, expertise and

technology to create a competitive advantage and build market share.

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Capital Structure

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FINANCIAL RESULTS (INDIAN GAAP)

FINANCIAL RESULTS:

Profit & Loss Account: Year ended March 31, 2014

For the year ended March 31, 2014, the Bank earned total income of ` 49,055.2 crores.

Net revenues (net interest income plus other income) for the year ended March 31, 2014 were

26,402.3 crores, up by 16.5% over ` 22,663.7 crores for the year ended March 31, 2013. For

the year ended March 31, 2014, the net interest margin was 4.4% as against 4.5% for the year

ended March 31, 2013. Cost to income ratio was at 45.6% for the year ended March 31,

2014, as against 49.6% for the previous year.

The Bank’s profit before tax was ` 12,772.1 crores, an increase of 31.0% over the year ended

March 31, 2013. With the effective tax rate for the year at 33.6% as against 31.0% for the

previous year, the net profit for year ended March 31, 2014 was ` 8,478.4 crores, up 26.0%,

over the year ended March 31, 2013. Consolidated net profit of the Bank increased by 27.3%

to 8,743.5 crores for the year ended March 31, 2014.

Balance Sheet: As of March 31, 2014

Total deposits as of March 31, 2014 were ` 367,337 crores, an increase of 24.0% over March

31, 2013. Savings account deposits grew 16.9% over the previous year to reach103,133

crores. Current account deposits grew 17.5% over the previous year to reach ` 61,488 crores.

CASA deposits were 44.8% of total deposits as on March 31, 2014. Advances as of March

31, 2014 were ` 303,000 crores, an increase of 26.4% over March 31, 2013. The domestic

loan mix between retail : wholesale is 53:47. Total advances in overseas branches as of

March 31, 2014 were at 8% of the total advances as against 4% as of March 31, 2013.

Adjusted for the one time increase in FCNR deposits swapped with RBI under the special

window in the quarter ended December 31, 2013, and the related foreign currency loans, core

deposits and advances growth for the year was 16.9% and 21.8% respectively

As on March 31, 2014 the authorized share capital of the Bank is Rs. 550 crore. The paid-

up capital as on the said date is Rs 479,81,00,870/- ( 2399050435 ) equity shares of Rs. 2/-

each). The HDFC Group holds 22.64 % of the Bank's equity and about 16.97 % of the

equity is held by the ADS / GDR Depositories (in respect of the bank's American

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Depository Shares (ADS) and Global Depository Receipts (GDR) Issues). 34.11 % of the

equity is held by Foreign Institutional Investors (FIIs) and the Bank has 4,22,314

shareholders.

The shares are listed on the Bombay Stock Exchange Limited and The National Stock

Exchange of India Limited. The Bank's American Depository Shares (ADS) are listed on

the New York Stock Exchange (NYSE) under the symbol 'HDB' and the Bank's Global

Depository Receipts (GDRs) are listed on Luxembourg Stock Exchange under ISIN No

US40415F2002.

Organizational policies Professional: Transparency, fairness, absolute integrity and unbiased dealings with

all stakeholders - customers, colleagues and vendors. People are not afraid to experiment /

fail as long as there is a convincing business logic and an honest attempt.

Respect for the Individual: Absolute meritocracy at the time of hiring or promoting

individuals or assigning tasks and positions. There is a formal sexual harassment policy in

place to ensure dignity of individuals in the workplace.

“Can Do” Attitude: The attitude to take oneself beyond one’s perceived limitations.

It emphasizes on persistence and perseverance in reaching one’s goals.

Employee Care: HDFC Bank cares for its employees. This is manifested in the fact

that the Bank has instituted a Reward and Recognition Policy to acknowledge and honor

employee contribution, be it in business, cost saving initiatives or process improvements. The

Employee Wellness Program provides employees the facility of trained counselors for advice

on work-life balance, stress management, etc. The Bank has an award winning Diversity

Program with a dedicated Woman's Portal. There are also various benefits provided to

employees, viz. Holiday homes, Food Plus Card, etc.

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The PEOPLE value at HDFC Bank is based on the following HR Philosophy:

Belief

We believe that the ultimate identity and success of our Bank will reside as it always has, in

the exceptional quality of our people and their extra-ordinary efforts. In order to do that we

need to create an environment that recognizes and values our people and the work they do.

Values

The Bank’s strategic framework provided us with five core values – customer focus,

operational efficiency, product leadership, sustainability and people. The people value

signifies that we are committed to hiring, developing, motivating and retaining the best

people in our Bank.

Guiding Philosophy

They believe that human resource management in HDFC Bank is fundamentally line

management accountability. The role of HR is therefore to help develop line management

capability to effectively manage and develop their people (by providing appropriate tools,

policies and processes).

Ethical Organization

It is their endeavor to promote a culture of high personal integrity and professional ethics in

all employees to provide an environment that inspires excellence to accomplish

organizational objectives besides a sense of personal achievement and contentment.

Every employee is governed by the Ethical Standards and Compliance Manual. This is

available online to all employees across the Bank. Twice a year, this is circulated by mail

exchange system and confirmation taken from all employees on its understanding.

The Employee Relations Department of the Bank investigates into employee disciplinary

issues, misconduct, fraud etc and ensures appropriate management action is taken so that the

Bank and customer’s interests are upheld.

The Bank has an Internal Audit department comprising over 160 qualified auditors who

conducts periodic and concurrent audits of various operational processes. The benchmarks

are stringent and based on standard regulatory norms. The Audit department reports directly

to the Board of Directors of HDFC Bank, thereby ensuring independence.

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Young and Dynamic

Having completed fifteen years since inception, HDFC Bank has a young and vibrant

employee base with average age ranging between 30 – 35 years.

Meritocracy

All business and human resource decisions are based on merit. Employees qualify for

promotions through a stringent process, which involves methodical study of the employee’s

job size, last two performance ratings and panel interviews. The Bank promotes meritocracy

through differential bonuses, stock ownership plans and special increases.

HDFC Bank believes in transparency and accountability and is committed to strict adherence

of the same. Hence, the Whistle Blower Policy was created so that the internal regulators

could have the information about any activity involving impropriety, abuse of power,

malpractice, frauds, harassment or any untoward events. The Whistle Blower Policy

empowers employees to address their concerns in respect of untoward events as listed above

without any fear.

Diverse

The Bank has branches in over five hundred cities covering a wide geographical area of the

country. Employees come from varied cultural, social and ethnic backgrounds. Out of the

total headcount, over twenty percent are women.

Given the constant change in the environment and increasing demands at work, maintaining a

work-life balance has become even more of a challenge. As an organization we have always

strived to build a culture which values and recognizes an individual’s contribution and at the

same time promotes teamwork effectively.

Over the years we have seen various initiatives that have been initiated to manage the gender

diversity of a growing workforce, some of which are listed below:

o Women’s day celebrations to recognize the talent within the organization

o Felicitation of Women achievers through special awards for women

o Formal Sexual Harassment Policy and Committee

o Leadership Sensitivity towards Women Issues

o Extension of Maternity Leave to aid Adoption

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o Awareness of Women’s Medical Issues highlighted through Camps

o Sabbaticals for deserving women

o Formation of Sisterhood of Strength – a women’s forum which is specially meant to

identify, handhold and resolve challenges which women face at the workplace.

Technology enabled

HDFC Bank operates in a highly automated environment in terms of Information Technology

and communication systems. All the bank's branches have on-line connectivity, which

enables the bank to offer speedy funds transfer facilities to its customers. Multi-branch access

is also provided to retail customers through the branch network and Automated Teller

Machines (ATMs). We were the first Bank in India to implement Real Time Gross

Settlement, which enables transfer of money in bulk across Banks electronically within a few

hours.

The Bank has prioritized its engagement in technology and the internet as one of its key goals

and has already made significant progress in web-enabling its core businesses. In each of its

businesses, the Bank has succeeded in leveraging its market position, expertise and

technology to create a competitive advantage and build market share.

Cost Conscious

On account of its unique cost management practices, pioneered through a reverse auction

process, HDFC Bank is proud to have its operating cost within defined budgetary parameters.

Core Values The Bank’s five core values are:

Customer FocusTo achieve sustainable competitive advantage, HDFC Bank relies not only on strong

customer service, but also on measuring customer experience. The Bank has invested in

CRM Technology which provides triggers for selling various products depending on the

customer profile. The Relationship Manager is a trusted advisor to the customer – he / she has

the best interest of the customer and can advise competitor products, if the Bank’s product

does not fit the customer needs.

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Operational Excellence

With a dedicated team to monitor quality and service standards, many of HDFC Bank’s

process segments, including HR Operations are ISO certified. Over 2200 quality

improvement projects, aimed at improving operational excellence have been successfully

implemented. Over 550 employees have qualified for Six Sigma Certification and over 80

have earned the yellow belt.

Product Leadership

HDFC Bank has consistently developed innovative products and services that attract its

targeted customers. Focusing on high earnings growth and low volatility, HDFC Bank

continues to develop and distribute products / services that reduce cost of funds, by

leveraging its extensive branch network. The Bank actively tracks the performance of various

products and depending on the feedback received, tweaks product features, to better address

customer needs.

Sustainability

HDFC recognizes Social and Environmental aspects as essential elements of a Sustainable

business philosophy and are committed to enhance our performance on these fronts. It is our

endeavor to drive a paradigm shift of viewing ESG (Environmental, Social and Governance)

parameters from risks to opportunities and to incorporate social and environmental aspects

into our business by embedding sustainability in our Stakeholders, Products and Services.

People

People are the Bank’s greatest strength. HDFC Bank believes that the ultimate identity and

success of our Bank will reside in the exceptional quality of our people and their

extraordinary efforts. For this reason, we are committed to hiring, developing, motivating and

retaining the best people in the industry.

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Management Of the Bank:

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Board Of Directors

Independent DirectorsMr. C.M. VasudevDr. Pandit PaladeMr. Partho DuttaMr. Bobby ParikhMr. A.N. RoyMr. Vijay Merchant

Non Independent DirectorsMr. Keki MistryMrs. Renu KarnadMr. Aditya PuriMr. Paresh SukthankarMr. Kaizad Bharucha

Mr. Keki Mistry and Mrs. Renu Karnad represent Housing Development Finance Corporation

Limited (HDFC) on the Board of the Bank.

Mr. Harish Engineer ceased to be a Director in the whole time employment of the Bank on his

retirement from services from the close of business hours on 30th September 2013.

Organisational Hierarchy (Sector

8cBranch)

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Mr. Aditya PuriMD

Mr. Naveen PuriCountry Head

Mr. Govind PandeyBranch Bank Head

Mr. Vineet AroraZonal Head

Mr. Vikas KochharCluster Head

Mr. Rattan SinghBranch Manager

Mr. Ajay ChoudharyHead Relationship Manager

Miss Bharti Thakur

Relationship-Manager

Mr.Kunal Raheja

Relationship-manager

Mr.Amit Jindal

Relationship-manager

Mr. Harsehaj Sarang

Relationship-Manager

Mr.Harsh

KanojiaRelations

hip-Manager

ANALYSIS OF HDFC STRATEGIES OF HDFC BANK

Operational strategy

HDFC bank has been a consistent player in the banking industry and has always been trying

to produce the well balanced and right mix of products and services for both of its customers

in retail base and corporate base. HDFC bank operates in a highly automated environment in

terms of information technology and communication systems. All the bank's branches have

online connectivity, which enables the bank to offer speedy funds transfer facilities to its

customers. Multi-branch access is also provided to retail customers through the branch

network and Automated Teller Machines (ATMs). The Bank has made substantial efforts and

investments in acquiring the best technology available internationally, to build the

infrastructure for a world class bank. The Bank has prioritized its engagement in technology

and the internet as one of its key goals and has already made significant progress in web-

enabling its core businesses. In each of its businesses, the Bank has succeeded in leveraging

its market position, expertise and technology to create a competitive advantage and build

market share.

HDFC bank is the leader in the industries and today IT and HDFC bank together combined

they reached the sky. New technology changed the mind of the customers and changed the

queue concept from the history banking transaction. Today there are different channels

which are available for the banking transactions. New and improved technology results in the

advantageous functioning of the bank smoothly and efficiently.

HDFC BANK is the very consistent player in the new private sector banks. New private

sector banks to withstand the competition from public sector banks came up with innovative

products and superior service. Higher retail revenues partly offset by higher operating and

credit costs. HDFC has tried to equally well position itself to grow both segments.

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Competitive Strengths

The bank attributes its growth and continuing success to the following competitive strengths:

a) HDFC bank is a leader among Indian banks in the use of technology

Since the bank’s inception, it has made substantial investments in technology platform and

systems. Bank has built multiple distribution channels, including an electronically linked

branch network, automated telephone banking, Internet banking and banking by mobile

phone, to offer customers convenient access to our products. Technology platform has driven

the development of innovative products and reduced operating costs.

b) HDFC bank delivers high quality service with superior execution

Bank tries to deliver efficient service with rapid response time. Bank’s focus on personalized

service tries to draws customers to the products and increases existing customer loyalty.

c) HDFC offer a wide range of products

Whether in retail or wholesale banking, the bank tries to be a “one-stop shop” for the

Customers’ banking needs. The wide range of products creates multiple cross-selling

opportunities for bank and improves customer retention rates.

d) HDFC claims to have an experienced management team

According to HDFC, many of the members of senior management team who have been with

the bank; since inception seem to have substantial experience in multinational banking.

Business strategy

HDFC BANK mission is to be “a World Class Indian Bank”, benchmarking themselves

against international standards and best practices in terms of product offerings, technology,

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service levels, risk management and audit & compliance. The objective is to build sound

customer franchises across distinct businesses so as to be a preferred provider of banking

services for target retail and wholesale customer segments, and to achieve a healthy growth in

profitability, consistent with the Bank's risk appetite. Bank is committed to do this while

ensuring the highest levels of ethical standards, professional integrity, corporate governance

and regulatory compliance. Continue to develop new product and technology is the main

business strategy of the bank. Maintain good relation with the customers is the main and

prime objective of the bank.

HDFC BANK business strategy emphasizes the following:

•Increase market share in India’s expanding banking and financial services industry

by following a disciplined growth strategy focusing on quality and not on quantity and

delivering high quality customer service.

•Leverage our technology platform and open scalable systems to deliver more products to

more customers and to control operating costs.

•Maintain current high standards for asset quality through disciplined credit risk

management.

•Develop innovative products and services that attract the targeted customers and

address inefficiencies in the Indian financial sector.

•Continue to develop products and services that reduce bank’s cost of funds.

•Focus on high earnings growth with low volatility

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SWOT Analysis

Strengths

Support of various promoters

High level of services

Knowledge of Indian market

Right strategy for the right products.

Superior customer service vs. competitors

Great Brand Image

Products have required accreditations.

High degree of customer satisfaction.

Good place to work

Lower response time with efficient and effective service.

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

field.

Less attrition rate

Highest market capitalization

.

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STRENGTHS WEAKNESS

OPPORTUNITIES THREATS

Weakness

Rural penetration is low

Poor interest rates

Lesser number of branches as compared to public and other

competitors banks

Opportunities

Profit margins will be good.

Could extend to overseas broadly.

New specialist applications.

Could seek better customer deals

Fast-track career development opportunities on an industry-

wide basis.

An applied research centre to create opportunities for

developing techniques to provide value-added services.

Growing Indian banking sector

People are becoming more service oriented

global market opportunity

HNWI volume growing

Threats

Legislation could impact.

Great risk involved

Very high competition prevailing in the industry.

Vulnerable to reactive attack by major competitors

Lack of infrastructure in rural areas could constrain investment.

High volume/low cost market is intensely competitive

New licenses

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HDFC BANK FINANCIAL SUMMARY

Consolidated Profit & Loss account ------------------- in Rs. Cr. -------------------

Mar '13 Mar '12 Mar '11 Mar '10 Mar '09

12 mths 12 mths 12 mths 12 mths 12 mths

IncomeSales Turnover 35,948.1

829,930.4

525,765.0

812,318.1

611,676.0

8Excise Duty 0.00 0.00 0.00 0.00 0.00Net Sales 35,948.1

829,930.4

525,765.0

812,318.1

611,676.0

8Other Income 38.75 27.08 27.55 -201.39 -218.91Stock Adjustments 0.00 0.00 0.00 0.00 0.00Total Income 35,986.9

329,957.5

325,792.6

312,116.7

711,457.1

7ExpenditureRaw Materials 0.00 0.00 0.00 0.00 0.00Power & Fuel Cost 0.00 0.00 0.00 0.00 0.00Employee Cost 528.13 445.47 375.99 316.57 270.70Other Manufacturing Expenses

12,937.70

11,241.77

11,879.80

0.00 0.00

Selling and Admin Expenses

0.00 0.00 0.00 248.13 196.22

Miscellaneous Expenses

704.10 451.00 367.70 527.85 682.13

Preoperative Exp Capitalised

0.00 0.00 0.00 0.00 0.00

Total Expenses 14,169.93

12,138.24

12,623.49

1,092.55 1,149.05



Operating Profit 21,778.25

17,792.21

13,141.59

11,225.61

10,527.03

PBDIT 21,817.00

17,819.29

13,169.14

11,024.22

10,308.12

Interest 14,295.52

11,551.92

7,876.07 7,048.97 7,408.37

PBDT 7,521.48 6,267.37 5,293.07 3,975.25 2,899.75Depreciation 54.20 50.64 48.92 91.44 36.64Other Written Off 0.00 0.00 0.00 0.18 0.18Profit Before Tax 7,467.28 6,216.73 5,244.15 3,883.63 2,862.93Extra-ordinary items 0.00 0.00 0.00 14.79 13.55PBT (Post Extra-ord Items)

7,467.28 6,216.73 5,244.15 3,898.42 2,876.48

Tax 2,002.03 1,726.96 1,539.32 1,254.52 1,067.81Reported Net Profit 5,465.25 4,489.77 3,704.83 2,629.11 1,795.12Minority Interest 341.80 -1,180.52 -908.43 -6.13 -77.19Share Of P/L Of Associates

-1,516.27 207.78 84.85 -605.74 -438.19

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Net P/L After Minority Interest & Share Of Associates

6,639.72 5,462.51 4,528.41 3,240.98 2,310.50

Total Value Addition 14,169.93

12,138.24

12,623.49

1,092.55 1,149.05

Preference Dividend 0.00 0.00 0.00 0.00 0.00Equity Dividend 1,932.93 1,624.67 1,320.20 1,033.60 853.36Corporate Dividend Tax

394.97 298.46 237.23 194.27 159.70

Per share data (annualised)Shares in issue (lakhs)

15,463.47

14,769.70

14,668.87

2,871.10 2,844.54

Earning Per Share (Rs)

35.34 30.40 25.26 91.57 63.11

Equity Dividend (%) 0.00 0.00 0.00 0.00 0.00Book Value (Rs) 207.33 165.37 144.46 631.88 485.27

Consolidated Balance Sheet ------------------- in Rs. Cr. ------------------- Mar '13 Mar '12 Mar '11 Mar '10 Mar '09


Sources Of FundsTotal Share Capital

309.27 295.39 293.37 287.11 284.45

Equity Share Capital

309.27 295.39 293.37 287.11 284.45

Share Application Money

0.00 0.00 0.00 0.00 0.00

Preference Share Capital

0.00 0.00 0.00 0.00 0.00

Init. Contribution Settler

0.00 0.00 0.00 0.00 0.00

Preference Share Application Money

0.00 0.00 0.00 0.00 0.00

Employee Stock Opiton

0.00 0.00 0.00 0.00 0.00

Reserves 31,751.08 24,128.59 20,896.75 17,854.92 13,519.17Revaluation Reserves

0.00 0.00 0.00 40.20 40.12

Networth 32,060.35 24,423.98 21,190.12 18,182.23 13,843.74Secured Loans

68,486.16 67,349.60 62,665.09 32,382.27 24,511.71

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Unsecured Loans

44,061.63 31,230.74 22,222.48 66,081.06 61,428.93

Total Debt 112,547.79

98,580.34 84,887.57 98,463.33 85,940.64

Minority Interest

1,071.47 819.53 650.49 523.08 455.07

Policy Holders Funds

35,086.09 31,362.41 25,922.77 19,564.46 9,869.68

Group Share in Joint Venture

0.00 0.00 0.00 0.00 0.00

Total Liabilities

180,765.70

155,186.26

132,650.95

136,733.10

110,109.13



Application Of FundsGross Block 1,497.67 1,459.06 1,395.92 1,300.56 1,252.94Less: Accum. Depreciation

647.09 617.19 588.36 688.02 575.71

Net Block 850.58 841.87 807.56 612.54 677.23Capital Work in Progress

32.46 6.57 3.14 0.00 0.00

Investments 59,492.42 48,638.85 41,596.98 32,743.06 16,558.85Inventories 0.00 0.00 0.00 0.16 0.41Sundry Debtors

216.02 632.63 397.37 259.57 282.91

Cash and Bank Balance

7,071.67 6,481.36 6,818.46 735.06 1,276.50

Total Current Assets

7,287.69 7,113.99 7,215.83 994.79 1,559.82

Loans and Advances

184,285.08

155,942.56

125,631.85

104,083.00

91,998.04

Fixed Deposits

0.00 0.00 0.00 5,541.43 1,952.33

Total CA, Loans & Advances

191,572.77

163,056.55

132,847.68

110,619.22

95,510.19

Deffered Credit

0.00 0.00 0.00 0.00 0.00

Current 65,682.82 51,649.06 38,649.41 4,633.66 4,043.59

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LiabilitiesProvisions 5,499.71 5,708.52 3,955.00 2,608.06 1,927.56Total CL & Provisions

71,182.53 57,357.58 42,604.41 7,241.72 5,971.15

Net Current Assets

120,390.24

105,698.97

90,243.27 103,377.50

89,539.04

Minority Interest

0.00 0.00 0.00 0.00 0.00

Group Share in Joint Venture

0.00 0.00 0.00 0.00 3,333.83

Miscellaneous Expenses

0.00 0.00 0.00 0.00 0.18

Total Assets 180,765.70

155,186.26

132,650.95

136,733.10

110,109.13

Contingent Liabilities

5,736.21 4,662.39 3,792.82 608.50 657.51

Book Value (Rs)

207.33 165.37 144.46 631.88 485.27

Financial Parameters Chart

Parameters MAR'14( Cr.)₹

MAR'13( Cr.)₹

MAR'12( Cr.)₹

MAR'11( Cr.)₹

N/A( ₹Cr.)

Sales Turnover 4,11,355.00 3,50,649.00 2,72,864.00 1,99,282.00 0.00

Other Income 79,196.40 68,526.20 52,436.90 43,351.50 0.00

Total Income 4,90,552.00 4,19,175.00 3,25,300.00 2,42,634.00 0.00

Total Expenses 1,20,422.00 1,12,361.00 85,900.60 71,529.20 0.00

Operating profit 1,43,601.00 1,14,276.00 89,504.00 77,253.60 0.00

Gross Profit 1,27,721.00 97,506.20 0.00 0.00 0.00

Interest 2,26,529.00 1,92,538.00 1,49,896.00 93,850.80 0.00

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PBDT -98,808.00 -95,031.80 -1,49,896.00 -93,850.80 0.00

Depreciation 0.00 0.00 0.00 0.00 0.00

PBT 1,27,721.00 97,506.20 75,131.50 58,186.50 0.00

Tax 42,936.70 30,243.40 23,460.80 18,922.60 0.00

Net Profit 84,784.00 67,262.80 51,670.70 39,263.90 0.00

Earnings Per Share 35.50 28.50 22.02 85.00 0.00

Equity 4,798.10 4,758.80 4,693.40 4,652.30 0.00

Preference Capital 0.00 0.00 0.00 0.00 0.00

Reserves 4,29,988.00 3,57,383.00 2,94,550.00 2,49,111.00 0.00

Face Value 2.00 2.00 2.00 10.00 0.00

HDFC FINANCIAL RATIO ANALYSIS (FOR LAST 3

YEARS)

FINANCIAL RATIOS MARCH 13 MARCH 12 MARCH 111. Return on net worth(%) 20.71 22.36 21.372. Return on capital

employed(%)15.04 14.44 12.36

3. Current Ratio 2.46 2.84 7.274. Quick Ratio 2.68 2.83 14.005. Debt Equity Ratio 3.51 4.04 4.016. Debtors Turnover Ratio 84.72 58.12 78.44

7. Fixed Assets Turnover 28.57 24.35 22.29 of 78

Ratio

8. Total Assets Turnover

Ratio0.20 0.19 0.19

9. Dividend Payout Ratio

Net Profit34.68 35.20 34.39

10. Earning Retention Ratio 54.72 56.14 51.59

1.Return on Net Worth-is an appropriate measure for judging the return that a shareholder gets from his investment. In 2013 RONW is decreased showing less return to share holders than 2012 and even 2011

2.Return on Capital Employed- The ROCE has increased showing efficient use of capital

3.Current Ratio- Current ratio is a financial ratio that measures whether or not a company has enough resources to pay its debt over the next business cycle (usually 12 months) by comparing firm's current assets to its current liabilities. and HDFC has a satisfactory current ratio

4.Quick Ratio-The quick ratio for HDFC is 2.68 for Mar 13 which indicates the bank’s robustness and financial soundness in paying off short term obligation though the figure has dipped as compared to the last two years.

5.Debt Equity Ratio-As the debt equity ratio is greater than 1 it means HDFC's majority of assets are financed through debt

6.Debtors Turnover Ratio-This ratio has increased from past two years showing and as the ratio is high it shows receivables are more liquid and being collected promptly.

7.Fixed Asset Turnover Ratio-This ratio is increasing and it shows that the investment in the fixed assets are effective to generate revenues,-

8.Dividend Payout Ratio-As the dividend payout ratio is stable it shows solid dividend policy of HDFC bank.

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MAJOR PRODUCTS OF HDFC

Given below are the synopsis of different products at HDFC bank which I have been

studying and working on.

SAVING REGULAR ACCOUNT Interest Rate 4% based on daily balance credited to customers account on 31st March

and September.

Statements are sent to added mail, Monthly statement can be collected from branch

free of cost. Duplicate statement and certificate is available at a fee.

Direct access to the account

Safe Deposit Lockers.

Free email statements

5 free transactions on any other bank

Free alerts ,Mobile banking, Net Banking ,Phone Banking.

Pricing- Annual quarterly balance (AQB) of Rs 10000/

below Rs 10000/ urban ------Rs 750 per quarter

below Rs 5000/ semi urban -Rs 750 per quarter

*Account can be opened by-

Indian residents (sole, joint)

Minors, HUF, Trust, Associations

Cannot be opened by a firm or a company.

SAVING ACCOUNT PENSION Disburses three kinds of accounts

-Central Civil Pensions CPAO

-Defense Pensions

-EPFO call pensioners covered under EPS 1995 scheme.

AQB 0 balance

Non maintenance of AQB and no charge on it

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Funds transfer through teller counter.

Non cash transactions free

Undertaking given by pension authority is mandatory

Cash transaction up to Rs 50000/ free above Rs 50000 Rs 2.90 per Rs 1000/ .

SAVING MAX ACCOUNT

Marketing tool developed. Saving up to 4270. A video also to be shown to customers so that

they are encouraged to open saving max account

Saving balance from the account is transferred into a fixed deposits at a specific

threshold limit

Accounts that cannot be converted into saving max account are

-Saving account FCRA

-Saving Depository Residents

-Saving Account settler Services

-Saving Account E-Broking services HDFC securities

-Saving Account Trust

-Kids Saving Account

-Kisaan Club Saving Account

-No Frills Saving Account

-Kisaan No Frills Saving Account

Minimum Amount Rs100000/

SENIOR CITIZEN SAVING ACCOUNT Accidental Hospital coverage up to Rs50000/

Hospital Cash Allowance of Rs 500/up to 15 days per year

Account statement free of cost both quarterly and monthly

Easy shop international debit card free for life

Women advantage debit card free

DD/MC special charge slabs for senior citizen

(age group above 60years)


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below Rs 5000/ urban ------Rs 750 per quarter

below Rs 2500/ semi urban -Rs 750 per quarter

KIDS ADVANTAGE ACCOUNT Targeted through investments ,Investing for children future. Making kids potential

customers and tapping huge middle and upper class.

Free educational insurance cover up to Rs100000/

ATM issued to only kids with 7 to 8 transactions limit up to Rs 2500/

Free cash withdrawal from any bank ATM

Free personal cheque book

Fixed deposit is created for Rs 10000/ after Rs 25000/ through sweep out facility.


charges Rs 300 per quarter below AQB.

FAMILY SAVING GROUP Free cash withdrawal, transaction on other bank ATMs

Free monthly account statements

25% off on lockers

Minimum 2 and Maximum 4 accounts to be opened

Pricing- Combined Annual quarterly balance (AQB) Rs 40000/

chargers Rs1000/ if AQB> Rs 20000/ <= Rs 40000/

and Rs 1500/if AQB <= Rs 20000/

NO FRILLS ACCOUNT AQB not required

Should not have saving account with any other bank

Individual income equals or less than Rs 50000/

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WOMEN SAVING ACCOUNT Money maximizing facility

Unlimited free money transaction across all HDFC and non HDFC bank ATMs

50% discount on lockers for first year

CROSS SELLING PRODUCTS LIST Credit Cards

Group Insurance Plan

Smart Women Plan

Group personal accidental insurance plan

Critical illness cover

Home Insurance

(just noted them for my knowledge)

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DIRECT BANKING CHANNELS Net Banking

Phone Banking

Mobile Banking

NET BANKING Four E mantras for customers

-Ease

-Efficiency

-Experience

-Economy

Company prefer its customers and promotes net banking as it provides faster services and cut

downs the cost.

I am told to suggest customers and make them understand the benefits of net banking and

also I have to give them demo on how to use it.

Benefits of net banking

-Anywhere and anytime

-Real time information

-Range of features

-Secured channel

-Less cost to the branch

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Customer ID:

Key-in your Customer Id here. Click Continue to go to the next screen to key-in your password!

Forgot Your IPIN (password), click here

to generate instantly

New to Netbanking ?View Demo

NetBanking Faq's

Online Security

Trouble logging on to NetBanking?Visit our troubleshooting guide

Call on our PhoneBanking in your city

Write in to us

Credit Cardholders click here

(if you do not hold HDFC Bank

account)

Retail Loan Customers click here for

online loan account access

(if you do not hold HDFC Bank

account)

About SSL Certificates

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http://www.verisign.com/ssl/ssl-information-center/

https://seal.verisign.com/splash?form_file=fdf/splash.fdf&dn=NETBANKING.HDFCBANK.COM&lang=en

PHONE BANKING: 24-hour automated banking services with 39 Phone Banking numbers available. Telephone

Identification number is used to use Phone-Banking facility from anywhere.

MOBILE BANKING: Access your account on your mobile phone screen at no airtime cost. Use SMS technology

to conduct your banking transactions from your cell phone.

One can access over 60 transactions on your mobile phone with Mobile-Banking through

Browser. Log on to m.hdfcbank.com using your Customer Id and IPIN (Net Banking

Password).Once logged in check your account balance, pay credit card bills or instantly

recharge your prepaid mobile and DTH connections.

Well, once you have Mobile-Banking through Browser you can:

View your account summary and fixed deposit summary

Request for statements, cheque books and stop payments of cheques

Transfer funds to your other bank accounts, even those in other banks

Make Credit Card Payments Mobile and

DTH Recharge

Start using Mobile Banking through Browser

Scan with a QR Code Reader to visit the HDFC Bank Mobile

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MOBILE SECURITY DO'S AND DONT'S

DO's

Password protect the mobile phone. It is recommended to set the maximum number of

incorrect password submissions no more than three

Choose a strong password to keep your account and data safe

Review your account statements frequently to check for any unauthorized transactions

Change your IPIN regularly

Report a lost or stolen phone immediately to your service provider and law

enforcement authorities

DONT’s

Never give your PIN or confidential information over the phone or internet. Never

share these details with anyone

Don't click on links embedded in emails/social networking sites claiming to be from

the bank or representing the bank

Don't transfer funds without due validation of the recipient, as funds once transferred

cannot be reversed

Don't store sensitive information such as credit card details, mobile banking password

and user ID in a separate folder on your phone

Don't forget to inform the bank of changes in your mobile number to ensure that SMS

notifications are not sent to someone else

Never reveal or write down PINs or retain any email or paper communication from

the bank with regard to the PIN or password

Be cautious while accepting offers such as caller tunes or dialer tunes or

open/download emails or attachments from known or unknown sources

Be cautious while using Bluetooth in public places, as someone may access your

confidential data/information

Be careful about the websites you are browsing. If it does not look authentic, do not

download anything from it

**Pay your telephone, electricity and mobile phone bills through our ATMs, Internet,

phone or mobile phone. No more standing in long queues or writing cheques.

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HNW PROGRAMS OF HDFCHNW Clients of HDFC bank

The HNW clients (premium banking) are primarily divided into different programs as

follows

Imperia

Preferred

Classic

Eligibility Criteria's for different program at HDFC Bank

IMPERIA

Membership to the HDFC Bank Imperia Program is by invitation only. To be eligible for

the exclusive benefits you need to:

Maintain a minimum Average Monthly Balance of Rs.30 lakhs across all your Saving

and fixed deposits accounts

OR

Maintain an Average Quarterly Balance of Rs.10 Lakhs in your Savings account.

OR

Maintain an Average Quarterly Balance of Rs.15 Lakhs in your Current account.

The requisite balance can be maintained over your accounts and over those of your

immediate family members.

*The tenure of the Fixed Deposits should be at least six months.

**Entry into the Imperia Program is at the sole discretion of the Bank. HDFC Bank

reserves the right to change the benefits / services offered as part of the program

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PREFERRED

You are eligible for the HDFC Bank Preferred Program ** if you:

Hold at least one Savings or Current account, sole or joint, with HDFC Bank.

Maintain a minimum Average Monthly balance of Rs. 15 Lakhs across all your

accounts (Savings, Current and Fixed Deposits*)

OR

Maintain an Average Quarterly Balance of Rs. 2 Lakhs in your Savings account.

OR

Maintain an Average Quarterly Balance of Rs. 5 Lakhs in your Current account.

The requisite balance can be maintained over your accounts and over those of

your immediate family members.

* The tenor of the Fixed Deposits should be at least six months.

**Entry into the Preferred Program is at the sole discretion of the Bank.

# HDFC Bank can at its sole discretion, amend any of the services/facilities given in the

account either wholly or partially at any time by giving at least 30 days of notice and/or

provide an option to switch to other services/facilities.

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CLASSIC

You can avail of these privileges as an HDFC Bank Classic customer if you maintain an

account with us in your individual capacity and meet the following criteria:

A minimum Average Quarterly Balance of Rs.1 Lakh in a Savings Bank account (this

can be maintained across Savings Bank accounts held by you and your immediate

family (i.e. spouse/ parents/ children)

OR

A minimum Average Monthly Balance of Rs. 5 Lakhs in a combination of Savings

Bank accounts and Term Deposits (this can be maintained across accounts held by

you and your immediate family (i.e. spouse/ parents/ children).

* The tenure of the Fixed Deposits should be at least six months.

** HDFC Bank can at its sole discretion, amend any of the services/ facilities given in the

account either wholly or partially at any time by giving at least 30 days of notice and/or

provide an option to switch to other services/ facilities. Entry into the program is at the sole

discretion of the bank.

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RESEARCH METHODOLOGY

PURPOSE The report is made in order to attain knowledge and understanding of working of

HDFC bank specially related to Relationship Management, Initiatives for its High Net

Worth clients(HNW) so as to see how well the customers are satisfied. The report also

deals with different organizational policies of HDFC.

SCOPE The scope of the report is limited to HDFC Bank Main Branch located in SECTOR

8C,Chandigarh

AREA of INTERNSHIP Retail Branch Banking, Chandigarh

OBJECTIVE Understanding the working of relationship manager.

Understanding different initiatives of HDFC bank

Analyzing customer behavior and try suggesting changes in products according to the

findings.

Understanding organizational policies specially its mission and vision

Understanding Direct Banking Channels

SOURCE of DATA and METHOD of DATA

COLLECTIONSource of Data- The reports contains two types of data

1.Primary Data- collected from a sample of customers through close ended

questionnaire. This data has helped in analyzing customer satisfaction. The data is

primarily collected from the customers of HDFC bank sector 8c branch.

Some of the data is also collected from the employees of the branch through oral day

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to day interactions.

2.Secondary Data- This data is primarily collected from the HDFC website and Gyan

Link present primarily for the employees of the bank. Some other data has been

collected from different articles and websites

QUESTIONNAIRE DESIGN The questionnaire design is simple which contains mostly close ended question for

easy gathering and recording of data.

The questionnaire is titled as "CUSTOMER FEEDBACK SURVEY FORM" and

contains Fourteen (14) questions in total. Out of fourteen question 2 questions are

rating question rating is from Excellent to below average (question number 11 and 12)

No personal information was asked from the customers.

SAMPLE SIZE The sample size is 465 customers out of 13000 approx customers of the HDFC 8c

sector branch.

SOFTWARE USED The report is compile on Microsoft office word. The data is recorded in Microsoft

Excel. The Different analysis charts are too compiled using word and excel

The following formulas has been used in excel to sort data.-:

=COUNTIF(column: column," character to be counted")

=SUM(column: column)

LIMITATIONS Permission to access all the required company data is not always granted.

Some clients could provide biased feedback.

Clients are resistant to provide their personal information because they perceive it

may be a hindrance to their privacy.

Time Constraint

Large Customer Base because of which all customers could not be covered

Possibility of Human Error on my part as well as data providers part.

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GRAPHICAL REPRESENTATION

of DATA

35%

35%

30%

Q1. For how long have you been associated with HDFC ?

6 months to 1 year 1 to 2 years 2 years and more

1% 3%22%

16%29%

29%

Q2. Income per annum (Rupees)Nil Less than 500000 5,00,000-15,00,000

15,00,000-30,00,000 300,0000-500,0000 Above 50lakh

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SBI31%

ICICI29%

Axis Bank 24%

IDBI 3%

Others6%

None8%

Q3. Do you have account in any of the following bank?

17%

18%

23%9%

16%

15%2% 1%

Q4. What is the single most important reason for choosing HDFC bank?

Traditional bank account with it Brand name Excellent service ATM serviceNet banking and other banking channels Location AdvantagePersonalize attention given by the HDFC Staff Others

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To make deposit29%

To get advice from Rela-

tionship Man-ager28%

To inquire about new program

23%

To get in-vestment ad-

vice 4%

To withdraw cash8%

Others8%

Q5. What is the main reason that you typically visit HDFC sector 8 branch ?

43%

26%

31%

Q6. Premium Banking program are you availing from HDFC?

Preffered Classic Imperia

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59%21%

11% 9%

Q7. Which account facility are you availing ?

Saving Current Fixed NRI account

Yes95%

No5%

Q8. Did the Relationship Manager explained you the premium banking program in detail ?

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94%

6%

Q9. Where all your doubts and questions cleared by the relationship manager ?

Yes No

94%

6%

Q10. Do the relationship managers keep you up to date with new initiative of HDFC bank ?

Yes No Sometimes

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Q11. How would you rate the service quality on a scale of 1-

5?

Access

Confidentiali

ty

Courtesy

Reliab

ility

Securit

y

Responsiv

eness

Waiting ti

me0

50

100

150

200

250

300

Excellent

Good

Above Average

Average

Below Average

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Q12. How would you rate the following facilities on a scale of 1-5?

ATM

Early

cheq

ue clea

rance

Prepara

tion of d

raft

Loan fa

cility

Relationsh

ip man

agers

servi

ces

Interest

Rates

Net ban

king

0

50

100

150

200

250

300

ExcellentGoodAbove AverageAverageBelow Average

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94%

6%

Q13. If you are provided with better facility in some other bank would you switch ?

YesNo

Excellent47%

Good22%

Satisfactory31%

Q14. Rate over all services

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FINDINGS

The sample size has 35% people who has been associated with the bank from

6months to 2years showing steady increase in customers base

As the people belong to HNW segment hence the income of the customers is high

The people having account in HDFC also have accounts in SBI-29% and ICICI-29%

hence showing they are the competition to HDFC bank. Even Axis Bank is a tough

competitor to the bank as 24% of customers of HDFC also have their account in it

23% of people have chosen HDFC for its excellent service. We can also see the

people are showing interest in HDFC due to net banking facility provided by it

Mostly the customers visit the bank to get personalised advice from the Relationship

Managers showing that people are satisfied with their services.

From the sample size 43% HNW customers belong to preferred 26% to Classic and

31% to Imperia.

More than 50% of people are availing saving account

We can see from the data that people are really satisfied by the services provided by

the Relationship Manager and they have been successful in explaining the premium banking

program to HNW customers and even all the doubts have been clarified by them.

The Relationship Manager have a big responsibility of keeping HNW customers up to

date with the new initiatives and the collected data shows that customers are more than

satisfied with RMs and the way they are keeping them up to date

The bank has got excellent rating regarding the accessibility and responsiveness

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The customers are happy and satisfied with most of the service quality except for the

waiting time for which most of the customers have given average and below average.

The customers are really satisfied with RMs work and hence rated personalised

banking service as excellent. The customers are no so satisfied with the interest rates of the

bank and hence giving it rating of below average.

A strange but a fact has come out during the research that customers are rational and

if provided with better service quality they will switch to some other bank and only 6% of

customers won't switch even when provided with better facility with some other bank. The

bank needs to concentrate on increasing the loyal customer base by creating more trust and

personalised relations with the customers.

None of the customers has rated bank as poor in over all service which is quite

commendable job done by the branch.

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CONCLUSIONBased on the internship and the work done I come to a conclusion Relationship Managers

play a very crucial role in satisfying the HNW customers. The factors that delight customers

tend to be concerned more with the intangible nature of the service, commitment,

attentiveness, friendliness, care, and courtesy.

The Relationship Managers give prompt services, are always ready to answer the questions

and are trustworthy. When the customer comes for the first time to bank they give a proper

attention to customer, so that the customer can be fully satisfied. There is a huge role of RMs

in the satisfaction of customer as they provides them good service. Customer also feels safe

while doing any transaction with the bank.

The main dissatisfaction appear to be in the waiting time as HDFC has long procedures for

things to be done plus the interest rates are not that attractive.

HDFC is also now focusing on direct banking channels though quite a work has been done

by the bank in this sphere but still it is working vigorously to increase its net banking base

this would ultimately help in reducing the waiting time .

The management should understand the benefits of service quality. It include increased

customer satisfaction, improved customer retention, positive word of mouth, reduced staff

turnover, decreased operating costs, enlarged market share, increased profitability, and

improved financial performance. In the days of intense competition, superior service is the

only differentiator left before the banks to attract, retain and partner with the customers.

Superior service quality enables a firm to differentiate itself from its competition, gain a

sustainable competitive advantage, and enhance efficiency. Thus, improving service quality

leads to the customer satisfaction and, ultimately, to customer loyalty.

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RECOMMENDATIONS

Increase in virtualization to reduce the waiting time

Loan Liabilities should be given more stress

There should be an improvement made in interest rates so that they are competitive enough

according to industry standards.

During the interaction with the customers most of them wanted that Mobile sms should show

remaining balance

Looking for the other potential customers and designing products according to their needs

and requirements for example

The owners of “kirana” stores or groceries stores have lot of money but have little

knowledge of as to how to invest them productively for this the Relationship Managers

should work on including them in their premium banking program instead of waiting for

them to come to the bank. The RMs can prepare a database of the customers and try to

explain them the products that best suit their needs rather randomly calling people. Thus they

can be the other target customer and can be worked upon the above mentioned way.

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ANNEXURE

Questionnaire

CUSTOMER FEEDBACK SURVEY FORM

The information provided by you would only be used for research purpose and would be kept confidential.

Personal Information

Name..................................................................................................................................................

Age...................................................................................................................................................

Occupation........................................................................................................................................

Gender...............................................................................................................................................

Please tick the appropriate option/s

1. For how long have you been associated with HDFC

a) 6 months to 1 year

b) 1 to 2 years

c) 2 years and more

2. Income per annum (Rupees)

a) Nil

b) Less than 500000

c) 500000-15,00,000

d) 15,00,000-30,00,000

e) 30,00,000-50,00,000

f) Above 50lakh

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3. Do you have account in any of the following bank

a) SBI

b) ICICI

c) Axis Bank

d) IDBI

e) Other (please specify).....................................

f) None

4. What is the single most important reason for choosing HDFC bank

a) I have traditional bank account with it

b) The Brand name

c) The excellent service

d) ATM service

e) Net banking and other banking channels like phone banking and mobile banking

f) Location Advantage

g) Personalize attention given by the HDFC Staff

h) Any other (please specify)............................

5. What is the main reason that you typically visit HDFC sector 8 branch

a) To make deposit

b) To get advice from Relationship Manager

c) To inquire about new program

d) To get investment advice

e) To withdraw cash

f) Any other (please specify).......................

6. Premium Banking program are you availing from HDFC

a) Preffered

b) Classic

c) Imperia

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7. Which account facility are you availing

a) Saving

b) Current

c) Fixed

d) NRI account

8. Did the Relationship Manager explained you the premium banking program in

detail

a) Yes

b) No

9. Where all your doubts and questions cleared by the relationship manager

a) Yes

b) No

10. Do the relationship managers keep you up to date with new initiative of HDFC

bank.

a) Yes

b) No

c) Sometimes

11. How would you rate the service quality on scale of 1 to 5

1-excellent 2-good 3-above average 4-average 5-below average

a) Access

b) Confidentiality

c) Courtesy

d) Reliability

e) Security

f) Responsiveness

g) Waiting time

12. How would you rate the following facility on scale of 1 to 5

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1-excellent 2-good 3-above average 4-average 5-below average

a) ATM

b) Early cheque clearance

c) Preparation of draft

d) Loan facility

e) Relationship managers services

f) Interest Rates

g) Net banking

13. If you are provided with better facility in some other bank would you switch

a) Yes

b) No

14. Rate over all services

a) Excellent

b) Good

c) Satisfactory

d) Poor

Thank you for your precious time

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BIBLIOGRAPHY

References

Books

Arturo Molina, David Martin- Consuegra, Agueda Esteban, “Relational Benefits and

Customer Satisfaction in Retail banking”, International journal of Bank Marketing, Vol.25,

No.4, 2007, 253-271.

G.S. Suresh Chander, Chandrasekharan Rajendran, R.N. Anantharaman,“Customer

Perceptions of Service quality in the Banking Sector of a Developing Economy: A Critical

Analysis”, International Journal of Bank Marketing, Vol 21,No5, 2003, pp.233-242.

Allred, A. and H.L. Addams, 2001. Service quality at banks and credit unions: what

do their customers say? Managing service quality, 10:52-60

Kotler Philip, marketing management, (Pearson education, 12th edition) Malhotra K.

Naresh, marketing research (An applied orientation), Research design,(Prentice hall of India

pvt. 5th edition)

Zeithmal V. A., Grembler D.D., Bitner M.j., and Pandit A.: Service Marketing

Integrated customer Focus across the Firm” (4th Edition) M.K. Rampal : Service Marketing

International Journal of Business and Management Tomorrow Vol. 1 No. 1

Annual Report 2012-2013 HDFC bank PDF format

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Websites www.hdfcbank.com

hdfc gyanlink (intranet of the bank)

www.hdfcindia.com

www.wikipedia.org

www.moneycontrol.com

http://www.researchandmarkets.com

investopidia.com

http://rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=30911

http://economictimes.indiatimes.com/topic/new-banking-licence

http://economictimes.indiatimes.com/industry/banking/finance/banking/decision-on-hdfc-

bank-fii-limit-likely-on-may-20/articleshow/35082339.cms

http://timesofindia.indiatimes.com/tech/enterprise-it/infrastructure/How-technology-is-

changing-Indian-banking-sector/articleshow/18225529.cms

http://www.inflation.eu/inflation-rates/india/historic-inflation/cpi-inflation-india-

2014.aspx

HDFC Bank: Balance Sheet of HDFC Bank, Profit & Loss, Cash Flow, Ratios, Quarterly,

Half-Yearly, Yearly Financials - NDTVProfit.com

HDFC Bank: Balance Sheet of HDFC Bank, Profit & Loss, Cash Flow, Ratios, Quarterly,

Half-Yearly, Yearly Financials - NDTVProfit.com

HDFC Bank: Yearly Results, Financial Summary of HDFC Bank - NDTVProfit.com

HDFC Bank: Ratios, Financial Summary of HDFC Bank - NDTVProfit.com

No threat to established private sector lenders from new entrants: HDFC Bank -

NDTVProfit.com

Dont Change FDI Policy, Anand Sharmas Advice to His Successor - NDTVProfit.com

HDFC Bank: Half Yearly Results, Financial Summary of HDFC Bank - NDTVProfit.com

http://www.infosys.com/finacle/solutions/thought-papers/Documents/RBI-New-banking-

licenses-policy-India.pdf

http://in.reuters.com/article/2014/02/28/india-gdp-idINDEEA1R09H20140228

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