SUMMER TRAINING REPORT ON CUSTOMER SATISFACTION TOWARDS INDIAN BANK

Submitted to

In the partial fulfillment of the Degree requirement towards the MASTER OF BUSINESS ADMINISTRATION (MBA) SESSION (2012-2013) Submitted By:Manjeet Singh MBA 3rd sem. 1274048 Faculty Guide:Mr. Tarunjit Singh Assistant Professor KCL-IMT

KCL Institute of Management and Technology, Jalandhar

ACKNOWLEDGMENT

The success of any project depends upon the hard work and endeavor of not one but many, and this project is no expectation. Acknowledgement any one in mere words is a very difficult job. I would like to pay my sincere thanks to that entire person who helped me during this project work with their able guidance and invaluable advice. First and foremost, I convey my gratitude to Mr. Tarunjit Singh (Faculty) KCL Institute of Management & Technology, Jalandhar for providing me the opportunity to do a research project on the topic To study the customer satisfaction towards Indian Bank. I am highly grateful to Mr. Jasbir Singh (Chief Manager of Indian Bank, Nakodar) to provide us lots of knowledge in respect of Research Methodology and he is always ready for our help and provides us a lot of opportunities.

MANJEET SINGH (KCL Institute of Management & Technology, Jalandhar)

STUDENT DECLARATION

I hereby declare that the project entitled To study the customer satisfaction towards Indian Bank is an original work done by me as part of my curriculum under the guidance of Mr. Tarunjit Singh (Faculty) KCL Institute of Management & Technology, Jalandhar. The views and suggestions expressed are my own and have no link with any persons opinion and the matter enclosed has not been submitted for the ward of any other degree or diploma in the university.

MANJEET SINGH (KCL Institute of Management & Technology, Jalandhar)

GUIDE DECLARATION

This is to certify that the survey entitled, To study the customer satisfaction towards Indian Bank submitted in partial fulfillment of the requirement for the award of degree of Masters of Business Administration (MBA) from Punjab Technical University, Jalandhar is a bonafide summer training project work carried out by Manjeet Singh ,MBA 3rd sem.(1274048), under my supervision and guidance and to the best of my knowledge and information, no part of summer training project work has been submitted for any other degree or diploma.

( Signature of Guide

PREFACE
Without practical training, management education is meaningless so long with the theory; practical training is provided to management students to expose them to the actual working environment of any organization. Such training provides a framework of knowledge relating to the concepts and practices of the assigned topics in the organization. The summer training is an integral part of the course curriculum of Master of Business Administration (M.B.A. 3rd). In this the student is in the position to analyze the integral working of an organization with mature eyes and understand the dynamics in a much better manner. This particular project has been conducted at Indian Bank. In the first phase of the research project, there is a introduction of Banking, company profile and products of Indian Bank are given. After that a market research is performed with a sample size of 50 people. The research study was limited to Nakodar Branch. Here, in my survey, I have contacted the respondents through personal interviews with the help of questionnaires. The main objective of the research is to know the customer satisfaction level and their perception regarding Indian Bank and to know the customer awareness regarding the Indian Banks products. Indian Bank should lay more stress on advertisements, both in print as well as in other media. Opening up the sector will certainly mean new products, better packaging and improved customer service. Both new and existing players will have to explore new distribution and marketing channels. Potential buyers for most of Banks lie in the middle class. Competitors must segment the market carefully to arrive at appropriate products and pricing. Recognizing the potential, in the past three years, the nationalized Banks have already begun to target niches like pensions, women, children and rural peoples.

TABLE OF CONTENT

Serial No. 1 2 3 4 5 6 7 8

Subject Covered Introduction to the subject Introduction to the Indian Bank Research Methodology Analysis and Interpretation Findings and Conclusion Suggestions and Recommendation Bibliography Annexure

Page No. 7-12 13-21 22-25 26-36 37-39 40-41 42-43 44-46

CHAPTER-1

INTRODUCTION OF THE SUBJECT

7

CUSTOMERS SATISFACTION
Customer satisfaction refers to the extent to which customers are happy with the products and services provided by a business. Customer satisfaction levels can be measured using survey techniques and questionnaires DEFINITIONS: Definition 1: Customer satisfaction is equivalent to making sure that product and service performance meets customer expectations. Definition 2: Customer satisfaction is the perception of the customer that the outcome of a business transaction is equal to or greater than his/her expectation. Definition 3: Customer satisfaction occurs when acquisition of products and/or services provides a minimum negative departure from expectations when compared with other acquisitions. Gaining high levels of customer satisfaction is very important to a business because satisfaction customers are most likely to be loyal and to make repeat orders and to use a wide range of services offered by a business There are many factors which lead in high levels of customer satisfaction including. Products and services which are customer focused and hence provide high levels of value for money. What is clear about customer satisfaction is that customers are most likely to appreciate the goods and services that they buy if they are made to feel special. This occurs when they feel that the products and services that they buy have been specially produced for them or for people like them.

CONSUMER SATISFACTION PROCESS

The paramount goal of marketing is to understand the customer and to influence buying behavior. The process can be depicted as follows: Need recognition- realization of the difference between the desired and the current situation that serves as a trigger for entire process. Search for information. Pre purchase alternative evaluation. Consumption(utilization of the procured option) Post purchase alternative re-evaluation. Divestment(disposal of the unconsumed product and its remnants)

INTRODUCATION TO BANKING
Banking means accepting the deposits from the customers for lending to the needy and extending the other services as to issue of DD etc. nowadays after introduction of private sector banks the banks have become a profit centre and the functions become changed and now banks are doing the insurance and mutual funds also. but nationalised banks are still service oriented in extending loans for Education loan, and rural development activities. A Bank is an organization which lends money to the borrowers for a purposeful task, and provides a facility to deposit and withdraw money when needed and charge for it.

HISTORY OF BANKING IN INDIA

Phase I The General Bank of India was set up in the year 1786. Next came Bank of Hindustan and Bengal Bank. The East India Company established Bank of Bengal (1809), Bank of Bombay (1840) and Bank of Madras (1843) as independent units and called it Presidency Banks. These three banks were amalgamated in 1920 and Imperial Bank of India was established which started as private shareholders banks, mostly Europeans shareholders. In 1865 Allahabad Bank was established and first time exclusively by Indians, Punjab National Bank Ltd. was set up in 1894 with headquarters at Lahore. Between 1906 and 1913, Bank of India, Central Bank of India, Bank of Baroda, Canara Bank, Indian Bank, and Bank of Mysore were set up. Reserve Bank of India came in 1935. During the first phase the growth was very slow and banks also experienced periodic failures between 1913 and 1948. There were approximately 1100 banks, mostly small. To streamline the functioning and activities of commercial banks, the Government of India came up with The Banking Companies Act, 1949 which was later changed to Banking Regulation Act 1949 as per amending Act of 1965 (Act No. 23 of 1965). Reserve Bank of India was vested with extensive powers for the supervision of banking in India as the Banking Authority. During those days public has lesser confidence in the banks. As an aftermath deposit mobilization was slow. Abreast of it the savings bank facility provided by the Postal department was comparatively safer. Moreover, funds were largely given to traders. Phase II

10

Government took major steps in this Indian Banking Sector Reform after independence. In 1955, it nationalized Imperial Bank of India with extensive banking facilities on a large scale especially in rural and semi-urban areas. It formed State Bank of India to act as the principal agent of RBI and to handle banking transactions of the Union and State Governments all over the country. Seven banks forming subsidiary of State Bank of India was nationalized in 1960 on 19th July, 1969, major process of nationalization was carried out. It was the effort of the then Prime Minister of India, Mrs. Indira Gandhi. 14 major commercial banks in the country were nationalized. Second phase of nationalization Indian Banking Sector Reform was carried out in 1980 with seven more banks. This step brought 80% of the banking segment in India under Government ownership. The following are the steps taken by the Government of India to Regulate Banking Institutions in the Country: 1949: Enactment of Banking Regulation Act. 1955: Nationalisation of State Bank of India. 1959: Nationalisation of SBI subsidiaries. 1961: Insurance cover extended to deposits. 1969: Nationalisation of 14 major banks. 1971: Creation of credit guarantee corporation. 1975: Creation of regional rural banks. 1980: Nationalisation of seven banks with deposits over 200 crore. After the nationalisation of banks, the branches of the public sector bank India rose to approximately 800% in deposits and advances took a huge jump by 11,000%. Banking in the sunshine of Government ownership gave the public implicit faith and immense confidence about the sustainability of these institutions. Phase III This phase has introduced many more products and facilities in the banking sector in its reforms measure. In 1991, under the chairmanship of M Narasimham, a committee was set up by his name which worked for the liberalisation of banking practices. The country is flooded with foreign banks and their ATM stations. Efforts are being put to give a satisfactory service to customers. Phone banking and net banking is introduced. The entire system became more convenient and swift. Time is given more importance than money. The financial system of India has shown a great deal of resilience. It is sheltered from any crisis triggered by any external macroeconomics shock as other East Asian Countries suffered. This is all due to a flexible exchange rate regime, the foreign reserves are high, the capital account is not yet fully convertible, and banks and their customers have limited foreign exchange exposure.

11

BANKING STRUCTURE IN INDIA

(A) Scheduled Commercial Banks

Public sector Banks

(28) Nationalized Bank Other Public Sector Banks (IDBI) SBI and its Associates

Private sector Banks

(27)

Foreign Banks in India

(29)

Regional Rural Bank

(102)

(B) Scheduled Cooperative Banks

Scheduled Urban Cooperative Banks (55) Scheduled State Cooperative Banks (31)

Here we more concerned about private sector banks and competition among them. Today, there are 27 private sector banks in the banking Sector: 19 old private sector banks and 8 new private sector banks. These new banks have brought in state-of-theart technology and aggressively marketed their products. The Public sector banks are facing a stiff competition from the new private sector banks. The banks which have been setup in the 1990s under the guidelines Of the Narasimham Committee are referred to as NEW PRIVATE SECTOR BANKS.

12

CHAPTER-2

BANK PROFILE

13

BANKS PROFILE
A premier bank owned by the Government of India Established on 15th August 1907 as part of the Swadeshi movement Serving the nation with a team of over 18782 dedicated staff Total Business crossed Rs.2,49,136 Crores as on 31.03.2013 Operating Profit : Rs. 3,061 Crores as on 31.03.2013 Net Profit : Rs.1581.13 Crores as on 31.03.2013 Core Banking Solution(CBS) in all 2112 branches as on 31/07/2013 International Presence Overseas branches in Singapore , Colombo including a Foreign Currency Banking Unit at Colombo and Jaffna 240 Overseas Correspondent banks in 70 countries Diversified banking activities -2 Subsidiary companies Indbank Merchant Banking Services Ltd IndBank Housing Ltd. A front runner in specialised banking 97 Forex Authorised branches inclusive of 1 Specialised Overseas Branch at Chennai exclusively for handling forex transactions arising out of Export, Import, Remittances and Non Resident Indian business 73 Special SME Branches extending finance exclusively to SSI units Established MSME CPUs at 9 key centers at Chennai, Mumbai, Kolkata, New Delhi, Ahmedabad, Bangalore, Pune, Coimbatore and Kancheepuram . MoU entered with National Small Industries Corporation (NSIC ) to focus on MSME Segment Leadership in Rural Development Under Financial Inclusion Plan, Indian Bank has been allotted with 1523 villages with population above 2000 ,all the 1523 villages have been provided with banking services as on 30thSeptember 2012 as below: * 1425 villages through Smart card based Business Correspondent (BC) Model * 53 villages through Brick and mortar branches /Banking Service Centres (BSCs) * 45 villages through Mobile Branch/Van Pioneer in introducing Self Help Groups and Financial Inclusion Project in the country Award winner for Excellence in Agricultural Lending from Honourable Union Minister for Finance Best Performer Award for Micro-Finance activities in Tamil Nadu and Union Territory of Puducherry from NABARD Established 45 specialized exclusive Microfinance branches called "Microsate" across the country to cater the needs of Urban poor through SHG (Self Help Group)/JLG (Joint Liability Group) concepts A special window for Micro finance viz., Micro Credit Kendras are functioning in 44 14

Rural/Semi Urban branches Harnessing ICT (Information and Communication Technology) for Rural Development and Inclusive Banking Provision of technical assistance and project reports in Agriculture to entrepreneurs through Agricultural Consultancy & Technical Services (ACTS) A pioneer in introducing the latest technology in Banking 100% Core Banking Solution(CBS) Branches 100% Business Computerization 1515 Automated Teller Machines(ATM) 24 x 7 Service through more than 99242 ATMs under shared network Internet and Tele Banking services to all Core Banking customers e-payment facility for Corporate customers Cash Management Services Depository Services Reuter Screen, Telerate, Reuter Monitors, Dealing System provided at Overseas Branch, Chennai I B Credit Card Launched I B Gold Coin I B Prepaid Cards Launched (GIFT Card, International Travel Card) Indian Bank enters into a strategic tie-up with HDFC Standard Life Insurance Company Ltd. . INDIAN BANK with over 90 years of standing in the financial market with the reputation for excellent customer service, has entered into a strategic tie-up with HDFC Standard Life Insurance Company Ltd., the first in the private sector to receive the Certificate of Registration for foray into Life Insurance business for distribution of latters insurance products. A Memorandum of understanding has been signed by the Bank with the Insurance Company on 8th February 2001 to this effect. The Bank has to its strength 1646 branches spread across the country with ready built infrastructure and the expertise in marketing financial products. Initially the insurance products will be marketed through select branches in the South where the Bank has strong presence. The insurance products from HDFC Standard Life, will be competitive and customer friendly. The tie-up would benefit the Bank's customers, as they will have wider choice of life insurance policies at competitive premium.

15

LOGO OF THE BANK

SLOGON OF THE BANK

Your Tech-Friendly Bank

16

SWOT ANALYSIS OF BANK

1. Rural banking expertise 2. Strong international network of banks with 240 overseas correspondent banks in 70 countries 3. High end banking technology with core banking at all 1900+ branches 4. It has 22,000 employees 5. Diversified banking activities under 3 subsidiaries i.e. Indbank Merchant Banking Services Ltd, IndBank Housing Ltd, IndFund Management Ltd 1. Less presence in India as it has competition in urban areas as well as rural areas 2. Limited advertising in comparison with leading banks 3. Low number of ATMs and branches as compared to other big bank brands 1. Urban market banking and retail banking 2. Favourable Government rural schemes 3. More expansion in untapped rural markets 1. Economic crisis and fluctuating market scenarios 2. Highly competitive environment 3. Stringent Banking Norms by Govts and RBI

Strength

Weakness

Opportunity

Threats

MAJOR COMPETITOR OF BANK

STATE BANK OF INDIA ANDHRA BANK CANARA BANK ICICI BANK INDIAN OVERSEAS BANK BANK OF BARODA

17

PRODUCTS AND SERVICES OF BANK

NRI Foreign Exvhange

Wealth Management Services

Educational Loan

IB Swarna Mudra Schemes

Centralized Pension Processing

Agriculture Loan

Insurance Services

Premium Services

E-Payment of Taxes

Locker Facility

18

DEPOSIT SYSTEM OF BANK

SAVING BANK ACCOUNT

CURRENT ACCOUNT

TERM DEPOSITS

NRIACCOUNT

19

Board of Directors of Indian Bank

Shri T. M. Bhasin Chairman & Managing Director

Shri B. Raj Kumar Executive Director

Smt. Sudha Krishnan GOI Nominee Director

Dr. Sathyan David RBI Nominee Director

Prof. Narendra Kumar Agrawal Shareholder Director

Shri Chintaman Mahadeo Dixit Shareholder Director

Shri. Sanjay Maken Director

Shri Amarjit Chopra Director

20

General Managers of Indian Bank

Shri. P Arivanandam Chief General Manager

Shri. Banabihari Panda GM(President IBMBS/IBHL)

Shri. Gadiparthi Sudhakar ZM,Delhi

Shri. R V Chandra Sekhar Rao General Manager

Smt. Chitra Subramaniam GM(CVO)

Smt. K Malathy GM(R&L)

Shri. S Bhaskaran GM(CMC/IED)

Shri. K Jeyabal GM(HRM)

Dr. U. A. Balasubramanian Principal,IMAGE

Shri. Vipon Malhotra ZM ,Mumbai

Shri. Raj Gupta ZM ,Kolkata

Shri. G Manoharan GM(FI/DBT)

Shri. Rangarajan G ZM(Chennai South)

21

CHAPTER-3

RESEARCH METHODOLOGY
22

OBJECTIVES OF THE STUDY

To know the customer satisfaction level and their perception regarding Indian Bank. To know the customer awareness regarding the Banks products. To know the level of interest of customer regarding the different schemes of bank. To know the preference of customer regarding the extra services. To know the problems of customer regarding bank.

23

RESEARCH METHODOLOGY
Research is a careful investigation or inquiry especially through search for new facts in branch of knowledge: market research specifies the information. Required to address these issues: designs the method for collecting information: manage and implements the data collection process analyses the results and communicates the finding and their implications. Research problem is the one which requires a researcher to find out the best solution for the given problem that is to find out the course of action, the action the objectives can be obtained optimally in the context of a given environment.

RESEARCH DESIGN
A framework or blueprint for conducting the research project. It specifies the details of the procedures necessary for obtaining the information needed to structure and/or solve research problems. A good research design lays the foundation for conducting the project. A good research design will ensure that the research project is conducted effectively and efficiently. Typically, a research design involves the following components, or tasks:

Define the information needed. Design the research. Specify the measurement and scaling procedures. Construct and present a questionnaire or an appropriate form for data collection. Specify the sampling process and sampling size. Develop a plan of data analysis.

24

Data Collection: - The objectives of the project are such that both primary and
secondary data is required to achieve them. So both primary and secondary data was used for the project. The mode of collecting primary data is questionnaire mode and sources of secondary data are various magazines, books, newspapers, & websites etc.

1. Primary Data: The primary data was collected to measure the customer

satisfaction and their perception regarding Indian Bank. The primary data was collected by means of questionnaire and analysis was done on the basis of response received from the customers. The questionnaire has been designed in such a manner that the consumers satisfaction level can be measured and consumer can enter his responses easily.

2. Secondary Data: The purpose of collecting secondary data was to achieve

the objective of studying the recent trends and developments taking place in banking.

Sample size
50 customers were selected.

Sampling Unit
Nakodar

Sampling Technique
Convenient sampling.

Analysis MethodsThe data was tabulated and the frequency distribution was developed. The percentages and mean score were computed from different variables to analyze the questionnaire and selected customers were analyzed to know the customer satisfaction towards Indian Bank.

25

CHAPTER-4

ANALYSIS AND INTERPRETATION

26

Ques.1 Do you have Indian Bank account? Yes No

Data Analysis:Particulars Yes No No. of Respondents 43 7 Percentage (%) 86 14

No. of Respondents

Yes No

Data Interpretation:- Out of 50 respondents, 86% respondents have Indian Bank Account and 14% respondent have not Indian Bank Account.

27

Ques. 2 which type of account you have? SAVING A/C NRI A/C CURRENT A/C OTHERS FIXED DEPOSIT

Data Analysis:Particulars Saving A/c Current A/c Fixed Deposit NRI A/c Others No. of Respondents 31 5 11 2 1 Percentage (%) 62 10 22 4 2

No. of Respondents
Saving A/c
Current A/c Fixed A/c NRI A/c Others

Data Interpretation:-Out of 50 respondents, 62% respondents have Saving Account,10% have Current Account,22% have Fixed Deposit and 6% have NRI and other Accounts.

28

Ques. 3 why you choose Indian Bank? Customer service Brand name Interest others

Data Analysis:Particulars Customer Service Brand Name Interest Other No. of Respondents 21 15 8 6 Percentage (%) 42 30 16 12

No. of Respondents
25 20 15 10 5 0 Customer Service Brand Name Interest Other

Data Interpretation:-Out of 50 respondents, 42% respondents are choosing due to good customer service,30% are choosing for brand name of the bank,16% are choosing for interest and others are using due to some other reasons.

29

Ques. 4 Do you know about the services of the Bank?(Tick) Services Saving Bank A/c Current A/c Fixed Deposit De-Mat A/c Insurance Loans NRI A/c Yes No

Data Analysis:Particulars Saving A/c Current A/c Fixed Deposit Demat A/c Insurance Loans NRI A/c No. of Respondents(Yes) 46(Yes) 4(No) 41(Yes) 9(No) 45(Yes) 5(No) 20(Yes) 30(No) 25(Yes) 25(No) 43(Yes) 7(No) 33(Yes) 17(N0) Percentage (%) 92 82 90 40 50 86 66

50 45 40 35 30 25 20 15 10 5 0 Saving A/c Current A/c Fixed Demat A/c Insurance Deposit Loans NRI A/c

No Yes

Data Interpretation:-Out of 50 respondents, 92% respondents are knowing about Saving A/c,82% are knowing about Current A/c,90% are knowing Fixed Deposit,86% are knowing Loans,66% are knowing NRI A/c and 40% and 50% are knowing about Demat and Insurances.
30

Ques. 5 which of these services are you using? Saving Bank A/c Insurance Current A/c Loan Fixed Deposit NRI A/c Demat

Data Analysis:Services Saving A/c Current A/c Fixed Deposit Demat A/c Insurance Loans NRI A/c No. of Respondents 21 9 7 1 4 7 1 Percentage (%) 42 18 14 2 8 14 2

No. of Respondents
Saving A/c Current A/c Fixed Deposit Demat A/c Insurance Loans NRI A/c

Data Interpretation:-Out of 50 respondents, 42% respondents are using Saving A/c,18% are using Current A/c,14% are using Fixed Deposit,4% are using Demat & NRI A/cs and others are using Loans and insurance policies.

31

Ques. 6 Are you satisfied with the dealing of the bank officials? Yes No

Data Analysis:Particulars Yes No No. of Respondents 41 9 Percentage (%) 70 30

No. of respondents

Yes

No

Data Interpretation:-Out of 50 respondents,70% respondents are satisfied with the dealing of Indian bank officials and others are not satisfied.

32

Ques. 7 any problem you are facings regarding the bank? Timeliness Customer relationship Infrastructure ATM Services

Data Analysis:Particulars Timeliness Customer Relationship Infrastructure ATM Services No. of Respondents 10 6 12 22 Percentage (%) 20 12 24 44

No. of Respondents
45 40 35 30 25 20 15 10 5 0 Timeliness Customer Relationship Infrastructure ATM Service No. of Respondents

Data Interpretation:-Out of 50 respondents,20% respondents are facing problem in the bank is Timeliness,12% are facing problem of customer relationship,24% are facing Infrastructure problem and 44% are facing problem of ATM machines.

33

Ques. 8 How will you rate the Indian Bank in maintaining good customer relationship? (1) Good (2) Average (3) Poor

Data Analysis:Particulars Good Average Poor No. of Respondents 18 30 2 Percentage (%) 36 60 4

No. of Respondents

Good Average Poor

Data Interpretation:-Out of 50 respondents,36% respondents are thinks Indian bank are good maintaining a customer relationships,60% thinks average and 4% thinks poor customer relationship.

34

Ques. 9 which of the following extra service of the banks would you like to go in for? a) Phone banking d) Mobile banking b) ATM e) Bill payment c) Net banking f) All of these

Data Analysis:Particulars Phone Banking ATM Net Banking Mobile Banking Bill Payment All of these No. of Respondents 2 25 3 9 8 4 Percentage (%) 4 50 6 18 16 8

No. of Respondents

Phone Banking ATM Net Banking Mobile Banking Bill Payment All of these

Data Interpretation:-Out of 50 respondents,50% respondent are using ATM,18% are using Mobile Banking, 16% are using Bill Payments,6% are using Net Banking and others using all of these services.

35

Ques. 10 what is your overall satisfaction level regarding Indian bank? (1) Fully Satisfied (2) Satisfied (3) Neither satisfied nor dissatisfied (4) Dissatisfied (5) Fully Dissatisfied

Data Analysis:Particulars
Fully Satisfied Satisfied Neither satisfied Nor dissatisfied Dissatisfied Fully Dissatisfied

No. of Respondents 5 25 15 4 1

Percentage (%) 10 50 30 8 2

No. of Respondent
30 25 20 15 10 5 0 Fully Satisfied Satisfied Neither satisfied nor dissatisfied Dissatisfied Fully disatisfied

No. of Respondent

Data Interpretation:-Out of 50 respondents,10% respondent are fully satisfied to Indian bank,50% are satisfied,30% are neither satisfied nor dissatisfied, and 10% are dissatisfied to Indian Bank.

36

CHAPTER-5

FINDINGS AND CONCLUSIONS

37

FINDINGS OF THE STUDY

Majority Most

of the customers are satisfied with Indian Bank.

of the respondents are having Saving A/Cs.

Majority

of the customers are aware of services and extra services offered by Indian Bank. But not all the services.

The majority of the customers found services of the bank are average.

Majority

of the respondents are found the bank is average in maintaining the good customer relationship.
Majority

of the respondent said that they are facing the problem of timeliness and rest are facing problem of customer relationship and infrastructure.
The

perception of the majority of the customer regarding the bank is good because majority of the customers are satisfied with the bank and they also recommend the products of the bank. The most preferable extra service is ATMs and the less preferable services are bills payment, net banking and phone banking.
The

a/cs.

majority of customers are more interested in FDs, mutual funds and saving

The

majority of the customers are satisfied with the dealing of the officials up to some extent.
Main

factor that attract customers towards bank is the services of the bank. that are most used by the customer are saving a/c, FDs, current a/c and

Services

loans.

38

CONCLUSIONS
The project entitled TO STUDY THE CUSTOMER SATISFACTION

TOWARDS INDIAN BANK has helped me in studying satisfaction about services and products offered to consumers. Since the opening up of the banking sector, private banks are in the fray each one trying to cover more market share than the other. Yet, Indian Bank is far behind SBI, PNB and IDBI. Indian Bank must also be alert what with Private Banks (ICICI, HDFC) breathing down its neck. I am sure the bank will find my findings relevant and I sincerely hope it uses my suggestions enlisted, which I hope will take them miles ahead of competition. In short, I would like to say that the very act of the concerned management at Indian Bank in giving me the job of critically examining consumer satisfaction towards financial products and services of the company is a step in their continual mission of making all round improvements as a means of progress.

39

CHAPTER-6

SUGGESTIONS AND RECOMMENDATIONS

40

SUGGESTIONS AND RECOMMENDATIONS

The The The The The

Bank should develop the ambience. Bank should make some efforts to improving good relationship with customer. bank should enhance their services according to the needs of the customer. bank makes its procedures less time consuming.

bank should make effort to aware the customers about their all the extra services.

LIMITATIONS OF THE STUDY

It is said, Nothing is perfect and if the quite is true, I am sure that there would be few shortcoming in this project also. Sincere efforts have been made to eliminate discrepancies as far as possible but few would have reminded due to limitations of the study. These are: The research was carried out in a short period. Limited sample size. The information given by the respondent might be biased some of them might not be interested to given correct information. Some of the respondents of the survey were unwilling to share information.

41

CHAPTER-7

BIBLIOGRAPHY

42

BIBLIOGRAPHY
Research Methodology by C.R. KOTHARI, 2nd edition Marketing Management by PHILIP KOTLER, 11th edition.

http://www.bnknetindia/com/banking/finance http://en.wikipedia.org/wiki/bankingfinancialcompany http://www.indianbank.in http://www.indianbank/products/finance http://www.google.com. http://www.iloveindia.com. http://www.scribd.com

43

CHAPTER-8

ANNEXTURE

44

Dear respondent, I am Manjeet Singh, student of MBA 3rd(1274048) of KCL Institute of Management & Technology, Jalandhar. I am making a summer training report on the topic To study the customer satisfaction towards Indian Bank. Please provide me the relevant information and I assured that yours information will be kept confidential. (Please Tick the right opinions) 1. Do you have Indian Bank account? Yes No

QUESTIONAIRE

2. Which type of account you have? SAVING A/C NRI A/C CURRENT A/C OTHERS FIXED DEPOSIT

3. Why you choose Indian Bank? Customer service Brand name Interest others

4. Do you know about the services of the Bank?(Tick)

Services Saving Bank A/c Current A/c Fixed Deposit De-Mat A/c Insurance Loans NRI A/c Yes No

5. Which of the services are you using? Saving Bank A/c Current A/c A/c Insurance Loan

Fixed Deposit NRI A/c

De-Mat

6. Are you satisfied with the dealing of the bank officials? Yes No 7. Any problem you are facings regarding the bank? Timeliness Customer relationship 45

Infrastructure ATM Services

8. How will you rate the Indian Bank in maintaining good customer relationship? (1) Good (2) Average (3) Poor 9. Which of the following extra service of the banks would you like to go in for? a) Phone banking b) ATM c) Net banking d) Mobile banking e) Bill payment f) All of these 10. What is your overall satisfaction level regarding Indian bank? (1) Very dissatisfied (2) Somewhat dissatisfied (3) Nether satisfied nor dissatisfied (4) Very satisfied (5) Somewhat satisfied

Personal Information:Name: Age: Telephone No. Educational qualification Address

Thanks for participating in the Survey

46