to understand customers
TRANSCRIPT
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FINAL REPORT
ON MANAGEMENT THESIS
“To understandcustomers’perception of servicesfor current account provided by
SBOP and HDFC”
By:-
Manju Bala7NBBT001
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FINAL REPORTON MANAGEMENT
THESIS SEM-3“To understand customers’ perception of servicesfor current account provided by HDFC bank and
SBOP”
ICFAI NATIONAL COLLEGE
BATHINDA
Submitted To: - Submitted
By:-
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Ms Poornima Garg Manju Bala
Roll
No:-7NBBT001
TABLE OF
CONTENT
Acknowledgements
Bank
Current Account
About HDFC
Current Account of HDFC
Customer Pattern
About SBOP
Current Account of SBOP
Summary
Objectives
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(Manju
Bala)
INTRODUCTION ABOUTBANKING SECTOR
An organisation,usually a corporation,chartered by
state or federal government , which does most or
all of the following: recieves demand deposits and
time deposits ,honors instruments drawn on them ;
discounts notes ,makes loans, and invests in
securities, collect checks,drafts and notes,certifies
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depositor’s checks and issues drafts and cashier’s
checks
WHAT IS BANK?A bank is a business that borrows from its customers oncurrent accounts repayable to its customer's cheques andcollects cheques for its customers' accounts. Banks mayalso issue bank notes, and lend money to customers on
current account (called overdraft), accept term depositsand make term loans and provide other financial services.Banks that issue notes are called Banks of Issue.
Currently in most jurisdictions the business of banking isregulated and banks require a license. Banking licensesare granted by bank regulatory authorities and providerights to conduct the most fundamental banking services
such as accepting deposits and making loans. There arealso financial institutions that provide certain bankingservices without meeting the legal definition of a bank, aso called non-banking financial company.
Banks have a long history, and have influencedeconomies and politics for centuries.
The word bank is derived from the Italian banca, which is
derived from a Germanic language and means “bench”. The terms “bankrupt” and "broke" are similarly derivedfrom banca rotta, which refers to an out-of-business bank,having its bench physically broken. Money lenders inNorthern Italy originally did business in open areas, or big
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open rooms, with each lender working from his ownbench or table.
Traditionally, a bank generates profits from transaction
fees on financial services and from the interest it chargesfor lending. In recent history, with historically low interestrates limiting banks' ability to earn money by lendingdeposited funds, much of a bank's income is provided byoverdraft fees and riskier investments.
Banking in India originated in the first decade of 18thcentury with The General Bank of India coming intoexistence in 1786. This was followed by Bank of Hindustan. Both these banks are now defunct. The oldestbank in existence in India is the State Bank of India beingestablished as "The Bank of Calcutta" in Calcutta in June1806. Couple of decades later, foreign banks like HSBCand Credit Lyonnais started their Calcutta operations inthe 1850s. At that point of time, Calcutta was the mostactive trading port, mainly due to the trade of the BritishEmpire, and due to which banking activity took roots
there and prospered. The first fully Indian owned bankwas the Allahabad Bank set up in 1865.
By the 1900s, the market expanded with theestablishment of banks like Punjab National Bank, in 1895in Lahore; Bank of India, in 1906, in Mumbai - both of which were founded under private ownership. Indianbanking sector was formally regulated by Reserve Bank
of India from 1935. After India's independence in 1947,the Reserve Bank was nationalized and given broaderpowers.
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This is the model of banking structure in India that shows
the importance and authority of RBI and also existence of
Commercial Banks included foreign and Regional Rural,
Co-operative Banks included Urban Banks and State
Banks, Public Sector Banks, Private Sector Banks and
other Nationalized Banks in India.
The Reserve Bank of India (RBI), as the central bank of
the country, closely monitors developments in the wholefinancial sector
The banking sector is dominated by Scheduled
Commercial Banks (SCBs). As at end-March 2002, there
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were 296 Commercial banks operating in India. This
included 27 Public Sector Banks (PSBs), 30 Private, 40
Foreign and 196 Regional Rural Banks. Also, there were
68 scheduled co-operative banks consisting of 52scheduled urban co-operative banks and 16 scheduled
state co-operative banks.
Scheduled commercial banks touched, on the deposit
front, a growth of 14% as against 18% registered in the
previous year. And on advances, the growth was
14.5%against 17.3 % of the earlier year.
State Bank of India is still the largest bank in India with
the market share of 20%. ICICI and its two subsidiaries
merged with ICICI Bank, leading creating the second
largest bank in India with a balance sheet size of
Rs1040bn.
A minimum stipulated Capital Adequacy Ratio (CAR) was
introduced to strengthen the ability of banks to absorblosses and the ratio has subsequently been raised from
8% to 9%. It is proposed to hike the CAR to 12% by 2004
based on the Basle Committee recommendations.
Retail Banking is the new mantra in the banking sector.
The home loans alone account for nearly two-third of the
total retail portfolio of the bank. According to oneestimate, the retail segment is expected to grow at 30-
40% in the coming years
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Net banking, phone banking, mobile banking, ATMs and
bill payments are the new buzz words that banks are
using to lure customers.
With a view to provide an institutional mechanism for
sharing of information on borrowers/ potential borrowers
by banks and Financial Institutions, the Credit Information
Bureau (India) Ltd. (CIBIL) was set up in August 2000. The
Bureau provides a framework for collecting, processing
and sharing credit information on borrowers of credit
institutions. SBI and HDFC are the promoters of the CIBIL.
The RBI is now planning to transfer of its stakes in the
SBI, NHB and National Bank for Agricultural and Rural
Development to the private players. Also, the
Government has sought to lower its holding in PSBs to a
minimum of 33 per cent of total capital by allowing them
to raise capital from the market.Banks are free to acquire shares, convertible debentures
of corporate and units of equity-oriented mutual funds,
subject to a ceiling of 5% of the total outstanding
advances (including Commercial Paper) as on March 31 of
the previous year.
The finance ministry spelt out structure of the
government-sponsored ARC called the Asset
Reconstruction Company (India) Limited (ARCIL), this pilot
project of the ministry would pave way for smoother
functioning of the credit market in the country. The
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Government will hold 49% stake and private players will
hold the rest 51% - the majority being held by ICICI Bank
(24.5%).
Current Deposit a/c These accounts are meant purely to meet the
transaction needs of the customer and hence not
entitled to any interest from bank.
In addition, the bank also levy certain charges
for maintaining the accounts in the form of
ledger Fees, minimum balance Fees etc.
Minimum balance is also specified by each
bank.
This a/c is opened by a business organization
for meeting their business transactions.
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Categories of Banks
The “Reserve Bank of India” governs theoperation of banks in India. In India, banks can be
classified into 3 categories
Public sector banks like State Bank of India,Bank of Baroda, Syndicate Bank, and CanaraBank. Government of India backs these, sodepositor’s money is safe. Public sector banks aresome of the oldest banks in India and have
reasonable charges for most services. Many of the branches of these banks are not networked,but they are slowly introducing internet banking,ATM cards and other facilities. Sometimes, ITrequirements are not correctly estimated and thisresults in problems for customers
Our experience is that they offer better servicecompared to all other types of banks. PublicProvident Fund (PPF) accounts, which offer taxfree returns, can be opened at State Bank of Indiabranches. If you do not operate an account (makea deposit or withdrawal) in the branch for a long
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time - a period of more than one year, theaccount becomes inactive and additionalverification is required to make it active. You have
to periodically visit the branch to update yourpassbook, though some banks are now offeringinternet banking.
Most branches are open for a limited time in themorning, which is very inconvenient forcustomers, especially salaried employees with a9 to5 job, who have to reach office in time. Their
employees are unionized and often strike work
Co-operative banks: major banks includeAbhyudaya Bank, Bharat Co-op Bank.Maharashtra has the largest number of co-opbanks in India. In cities like Mumbai, these bankshave a large number of branches. They also havetimings convenient for working people - usuallyopen in the evening and on Sundays. They alsooffer a higher rate of interest compared to otherbanks. However, many co-op banks have shutdown and depositors have lost money, becauseof mismanagement by the Directors of thesebanks. Mutual funds dividends cannot be directlycredited to your account in these banks. If an
account is inactive for more than 1 year (no cashwithdrawal or deposit is made), these banksusually charge an additional amount to reactivateit.
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If your account is debited for some bank charges,you should check with the bank manager and askthem the exact details. Many times, your account
is debited for services you have never used. Alsokeep a track of the cheque books that are issuedto your account. Bharat Co-op Bank issues chequebooks in denominations of 10 leaves and 25leaves only. They issue 30 cheque leaves freeevery 6 months. They often do not have chequebooks of 10 leaves available. So, if a customerhas already taken a cheque book of 10 leaves ,they are forced to take a cheque book of 25leaves and pay bank charges for taking more than30 cheque leaves (though this is the banks faultactually)
Private sector banks such as HDFC Bank,
HDFC bank, IDBI bank and UTI bank wereestablished less than 15 years ago. They havemade optimum use of technology and offerinternet banking, ATM and phone banking. Youcan access your account from any branch in India(usually at a charge). Mutual funds can directlycredit dividends, redemption amounts to your
account. Private and foreign banks cover 65% of the forex transactions in India
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The minimum balance requirement is muchhigher in these banks, usually more than Rs 5000for a savings account. If you do not maintain the
minimum average quarterly balance (AQB) for athree month period, their bank charges aresubstantial - Rs 250 - Rs 500. Marketing executiveof some new banks like Kotak Mahindra is willingto reduce the AQB requirements to get morecustomers. It is advisable to check the balancesheets of these banks, before opening an amount.Bank statements are sent by post every month orevery 3 months, along with notifications aboutchanges in bank charges.
The air-conditioned branches of private banks arewell designed, but their staff is often indifferent tocustomers. Earlier these banks refused to giveany acknowledgement for cheques deposited (if
they lost the cheque - they were not responsible).Now the Reserve Bank of India has made itmandatory for them to give an acknowledgement.If you have deposited a cheque and it is notcredited to your account, they usually take 3 to 4days to find out where the cheque hasdisappeared. If a cheque has been deposited inan ATM, and not been credited to your account,these banks will only take any action, if it can beproved that the payees account has beendebited.
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Before keeping large amounts in these banks, it isadvisable to check the financial status of thesebanks. Global Trust Bank was a private sector
bank, which was taken over by the public sectorOriental Bank of Commerce, due to financialproblems. Customers could not withdraw largeamounts from their bank accounts for some time.
Citibank, HSBC, Standard Chartered are some of
the foreign banks operating in India. However,they have a limited number of branches, usuallyin the main financial district of major cities.Citibank offers electronic fund transfer to otherbank, but the recipient does not have any way tofind out who has sent the amount. They also havevery high charges and for some types of accounts, you are charged for even a visit to thebranch. So if you have any problem, you can onlycontact their call center!
Recently the entire staff of Citibank’s Jaipurbranch was dismissed due to malpractices -article from “Economic Times on Citibank Jaipurproblem”
The Reserve Bank of India has established theBanking Ombudsman Scheme for inexpensiveand quick resolution of complaints against banks.Some banks like Syndicate Bank provide details of this scheme at their branch. Details of Banking
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Ombudsman Scheme are available at the RBIwebsite and websites of some Indian and foreignbanks. Indian banks have a large number of
holidays and bank holidays are different in thevarious states in India.
Though 17 banks are authorized to import goldand resell to jewelers, exporters and retailcustomers, only HDFC bank, HDFC bank,Corporation Bank, Indusind Bank and Indian Bankare selling to retail customers as of March 2006.
The gold purchased from banks is 24 karat goldimported from PAMP refinery, Switzerland
According to a report by ICRA Limited, a rating
agency, the public sector banks hold over 75
percent of total assets of the banking industry, with
the private and foreign banks holding 18.5% and
6.5% respectively.
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ABOUT
HDFC
HDFC Housing Development Finance
Corporation was established in August
1994 but it started operation as schedule
commercial bank in january 1995.
CEO & MD of HDFC Bank Ltd. is Aditya
Puri.
Its registered office in Mumbai
It won best Home Financer award& best
strategy award at Marketing& Advertising
Power in2005.
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HDFC Bank now has a wide network of over
531 branches across 228 cities &over
thousand networked ATM’s. All fact &figure
highlighted the rapid growth of HDFC Bank
over the last nine years. This Bank adopted
the Corporate Governance Policy & keeping in
mind the importance of attaining fairness of
all stakeholders as well as achievingorganization efficiency
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Types Of Current
AccountPlus Current Account
Trade Current Account
Premium Current Account
Regular Current Account
Reimbursement Current Account
RFC - Domestic Account
Flexi Current Account
Regular Fixed Deposit
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HDFC Bank Plus Current Account Features &
Benefits
Free Account to account funds transfer between HDFC Bank accounts
Free payment and collection through RTGS.
Free payment and collection using NEFT (through Netbanking)
Free up to 50 Demand Drafts per month and can be issued from any
HDFC Bank Branch
Free up to 50 Pay Orders (PO) per month and can be issued from any
HDFC Bank Branch.
Free anywhere collection & payment transactions (clearing) within HDFC
Bank branch network (except Dahej), up to Rs.100 lacs per month.
Convenience to withdraw & deposit cash at all our branches*
300 "At Par" cheque leaves free per month.
Register for InstaAlert service and receive updates on your account as
and when the select transaction happens - all this without visiting the
branch or ATM!
Enjoy facilities like 24-hour Phone Banking, Net Banking and Mobile
Banking that helps you check your balance & transaction details, find out
the status of your cheque or stop cheque payment.
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Trade Current Account Features & Benefits
Free Account to account funds transfer between HDFC Bank accounts.
Free RTGS/NEFT Transactions.
Free up to 30 Demand Drafts (DD) per month and can be issued from
any HDFC Bank Branch.
Free up to 30 Pay Orders (PO) per month and can be issued from any
HDFC Bank Branch.
Free anywhere collection & payment within HDFC Bank branch network
(except Dahej), up to Rs.50 lacs per month.
Convenience to withdraw & deposit cash at all our branches*
200 "At Par" cheque leaves per free month .
Register for InstaAlert service and receive updates on your account as
and when the select transaction happens - all this without visiting the
branch or ATM!
Enjoy facilities like 24-hour PhoneBanking, NetBanking and
MobileBanking that helps you check your balance & transaction details,
find out the status of your cheque or stop cheque payment.
RFC Domestic Account Features & Benefits
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Convenient inter-city banking :
Deposit your local cheques in one branch of a city and have it
credited to your account at a branch in another city or make
payments across HDFC Bank locations using PAP chequefacility at a nominal rate
Free payments and collections through NEFT
Free RTGS collection. RTGS payment @ Rs.100/- per
transaction
S Inter-city Account to accounts funds transfer between HDFC
Bank accounts at a nominal charge of Rs.15/- per transactions
Free Demand Drafts (DD) above Rs.100,000/-. Demand drafts
up to Rs.50,000/- at flat cost of Rs.40/-. DDs above Rs.50,000/-
& up to Rs.100,000/- at nominal cost of Rs.25/- .
Free Pay Order (PO) above Rs.100,000/-. Pay Order up to
Rs.50,000/- at flat cost of Rs.40/-. POs above Rs.50,000/- & up
to Rs.100,000/- at nominal cost of Rs.25/- .
Payable at par cheque book at nominal price.
Register for InstaAlert service and receive updates on your
account as and when the select transaction happens - all this
without visiting the branch or ATM!
:
Flexi Current Account Features & Benefits
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Enjoy dynamic free limits on Intercity Payments, Collections &
Funds Transfer as well as Cash Deposit at home location
branches based on the AMB maintainedFor example, you maintain an AMB of Rs.2,00,000/- in a
particular month. Your dynamic free transaction limits for that
month would be as per the following table
[
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About State bank of
Patiala
COMPANY’S PROFILEOverview
State bank of Patiala is an associate bank of State
bank of India. SBOP is originally named Patiala
State Bank,an currently an associate bank of theState Bank of India was founded on 17 november
1917.SBOP was founded by Bhupinder Singh
Maharaja of the princely state of Patiala of
undevided India and the functions of the bank
included the normal functions of commercial
banks, as also some functions similar to functions
of central bank for the princely State of Patiala.
After India’s independence,the bank
was made a wholly owned subsidiary of the
government of Punjab. On 1 April 1960,SBOP was
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accorded the status of an associate bank of State
Bank group. Presently, The State bank of Patiala
has a network of 830 service outlets including 750
branches in all major cities of India , but most of the branches are located in the India State of
Punjab , Haryana, Himachal Pardesh,Rajsthan
, Jammu & Kashmir,Delhi and Chandigarh.
State Bank offers you the convenience of over 5000 ATMs inIndia, already the largest network in the country and continuing toexpand fast!
This means that you can transact free of cost at the ATMs of State Bank Group (This includes the ATMs of State Bank of Indiaas well as the Associate Banks namely, State Bank of Bikaner &
Jaipur, State Bank of Hyderabad, State Bank of Indore, StateBank of Mysore, State Bank of Patiala, State Bank of Saurashtra,and State Bank of Travancore), using the State Bank Cash Pluscard.
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Current accounts of SBOPThere are two types of current accounts
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SUMMARY My title is “ To understand the customer ‘s
perception of services for current account
provided by HDFC and SBOP “. First of all I
prepared quationnaire to take the feed back
existing current account holder and take the
feedback from the current account holder of HDFC
bank and SBOP bank. It was very difficult to take
time from the customer to do the survey.
To complete my
project I took the sample of 50 customers . To do
the survey I selected the area.After my study I found
out that most of the customers of HDFC bank are
not fully satisfied with bank .Some of the bank are
not aware about the services of HDFC bank. Even
the current account holders of other bank are very
loyal to their existing bank and didn’t give the rightinformation . It is very difficult to find the existing
customers from the market.
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OBJECTIVES To learn about the companies
To study the services of HDFC bank and SBOP
bank for current account
To know which bank provide best service in
current account
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LIMITATION
It is very difficult to find exsisting
customers of HDFC bank and SBOP
Some times customer gives wrong
information
Lack of available data
Some time customers are busy in their
work & they refused to cooperate inproviding the information
Bank employees don’t have time for know
something for services of current account
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METHODOLOGY Sample area :- Bathinda
Sample size :- 50
Tool used :- Personel interview of customers
and quitionnair
Sampling Technique :- Convienence sampling
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Analysis
ervices for
urrent a/c
HDFC SBOP
ople like 30 20
I conducted survey of 50 people. Out of 50 ,
30 people have current account in HDFC and
20 people have current account in SBOP.
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FINDINGS
I conducted survey of 50 people. Ifound that thoso
people who believe in government . They opened their
current account in SBOP. SBOP is the subsidiary of State
Bank Of India. HDFC provide better services for currentaccount rather than SBOP .Because HDFC is a private
player and bank is providing better services to customer
for more profit that’s why people believe in HDFC. HDFC
provide internet banking,mobile banking,local
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cheques.HDFC provide locker facility ,pay orders,demand
draft.SBOP does not provide locker facility, pay order ,
demand draft.So that 30 people have current account in
HDFC bank and 20 people have current account in SBOP.
I conducted servey 50 people. Out of 50
people ,20 people have current account with
SBOP Bank .Out of 20 People 96% fully
satisfied with SBOP services for current
account and 4% people partial satisfied.
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I conducted servey 50 people. Out of 50
people ,30 people have current account with
HDFC Bank .Out of 30People 88% fully
satisfied with HDFC services for current
account and 12% people partial satisfied.
Balance of Payments Accounts US
International Transactions, 2003(Millions of dollars)
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Current Account
Exports of goods and
services
1,314,888
Imports of goods and
services –
1,778,117
Unilateral Current Transfers
–67,439
Capital Account
Capital account transactions
–3,079
Financial Account
US-owned assets abroad –
283,414
Foreign-owned assets in
the US
829,173
Statistical discrepancy –
12,012
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Figure 18-4:
U.S. Macroeconomic Data,1964-1972
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RECOMMENDATIONS• Bank should immediately solve the customer
problem
• Bank’s should make customer aware about the
charges of services
• HDFC bank require to provide fast service
• If company want to the edge over competitors then
SBOP bank requires to give something extra withcurrent facility to the customers
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APPENDICES:-Q1. Do you have current account?
Ans. a) Yes b) No
Q2. In which bank have you current account?
Ans. a) HDFC b) SBOP
c) ICICI d) PNB e) othersQ3. Are you satisfied from this bank?
Ans. a) Yes b) No
Q4. Do you want to change your bank?
Ans. a) Yes b) No
Q5. Which bank you would like to choose?Ans. a) HDFC b) SBOP
c) ICICI d) PNB e) any others
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Q6. What type of service is provided by HDFC bank
in current a/c?
Ans. a)Internet Banking b)Dimand draft
c)Locker d)Pay order
e) Cheques f) Mobile banking
g) Others
Q7. What type of service is provided by SBOP in
current account ?
Ans. a)Internet Banking b)Dimand draft
c)Locker d)Pay order
e) Cheques f) Mobile banking
g) Others
Q8. What type of service you expect from bank?
Ans. ____________________________________________________
Q9. How much minimum money do you require to
open a current a/c in HDFC ?
Ans. a) 1000 b)5000
c)More than 10000
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