Preface Let us begin this preface with a confession of a few of our own biases. First, we Believe that theory, and the models that flow from it, should provide us with the tools to Understand and solve problems. The test of a model or theory then should not be Based upon its elegance but upon its usefulness in customer satisfaction. Second, there is little Objectives and methodology, in our view, that is new and revolutionary. The core Principles of methodology are common sense ones, and have changed little over Time. Thirdly we discussed about the conceptual discussion through the theoretical backdrop and the literature review. Many banks have been running businesses for hundreds of years, and it would be exceedingly Presumptuous of us to believe that they were in the dark until the customers told them about
Transcript
Preface
Let us begin this preface with a confession of a few of our own biases. First, we
Believe that theory, and the models that flow from it, should provide us with the tools to
Understand and solve problems. The test of a model or theory then should not be
Based upon its elegance but upon its usefulness in customer satisfaction. Second, there is little
Objectives and methodology, in our view, that is new and revolutionary. The core
Principles of methodology are common sense ones, and have changed little over
Time. Thirdly we discussed about the conceptual discussion through the theoretical backdrop and the literature review.
Many banks have been running businesses for hundreds of years, and it would be exceedingly
Presumptuous of us to believe that they were in the dark until the customers told them about
Their satisfaction needs, and told them what to do. Fourthly we have represented the data
Analysis graphically with the reference of customer satisfaction survey method. And at last
We get some findings, problems, recommendations and their conclusions.
ACKNOWLEDGEMENT
We present this project report on “Customer Satisfaction of Axis Bank” with a sense of great pleasure and satisfaction. We, undersigned, with pleasure take this opportunity to thank all those related directly or indirectly in preparation of this project report.
We all started working on this project under the invaluable guidance of Honourable Miss. Vandana Sehgal for which we are very much thankful for her valued time given for the purpose. Without her co-operation our project work would have been difficult to complete.
We express our sincere thanks to Mr. Jagtap (Branch Manager) in Axis Bank Ltd., Wardha and staff in that organization. We are also thankful to Mr. [Director of our college] and Miss. Vandana [Project In charge] to allow us to carry out this project.
Date:
Place:
INDEX
SR. NO. TOPIC PAGE NO.
CHAPTER 1 Introduction1.1 overview of industry as a whole1.2 profile of the organization1.3 problems of the organization1.4 competition information1.5 s.w.o.t analysis of the organization
CHAPTER 2 OBJECTIVE AND METHODOLOGY2.1 significance2.2 managerial usefulness of the study2.3 objectives
2.4 scope of the study
2.5 methodology
CHAPTER 3 CONCEPTUAL DISCUSSION3.1 customer services in banking operations
3.2 customer satisfaction in relate to axis bank
3.3 offerings
3.4 products of the axis bank
CHAPTER 4 DATA ANALYSIS4.1 graphs representations
CHAPTER 5 FINDINGS AND recommendations5.1 conclusion5.2 Findings5.3 recommendation
ANNEXURES
BIBLIOGRAPHY
CHAPTER 1 - INTRODUCTION
1.1 OVERVIEW OF INDUSTRY AS A WHOLE
WHAT IS BANKING
Basic Definition: A system of trading money which: , provides a safe place to save excess cash, known as deposits , supplies liquidity to the economy by loaning this money out to help businesses grow and to allow consumers to purchase consumer products, homes, cars etc.
WHAT ARE BANKS
Institutions which deals in money and credit. & an intermediary, which handles other people’s money both for their advantage and to its own profits. A financial institution that links the flow of funds from savers to the users. & as to Plays an important role in the economy of any country as they hold the saving of the public.
Types of banks in India
• Central Bank: The Reserve Bank of India is the central Bank that is fully owned by the Government
• Public Sector Banks: State Bank Group, Regional rural banks
• Co-operative Sector: State Co-operative Banks, Central Co-operative Banks, Primary Agriculture Credit Societies
Development Banks/Financial Institutions: IDBI, ICICI, NABARD
1.2 PROFILE OF THE ORGANIZATION : AXIS BANK
Commercial banking services which includes merchant banking, direct finance infrastructure finance, venture capital fund, advisory, trusteeship, forex, treasury and other related financial services. As on 31-Mar-2009, the Group has 827 branches, extension counters and 3,595 automated teller machines (ATMs).
Axis Bank was the first of the new private banks to have begun operations in 1994, after
the Government of India allowed new private banks to be established. The Bank was
promoted jointly by the Administrator of the specified undertaking of the Unit Trust of
India (UTI - I), Life Insurance Corporation of India (LIC) and General Insurance
Corporation of India (GIC) and other four PSU insurance companies, i.e. National
Insurance Company Ltd., The New India Assurance Company Ltd., The Oriental
Insurance Company Ltd. and United India Insurance Company Ltd. The Bank today is
capitalized to the extent of Rs. 359.76 crores with the public holding (other than
promoters) at 57.79%.The Bank's Registered Office is at Ahmedabad and its Central
Office is located at Mumbai. The Bank has a very wide network of more than 853
branches and Extension Counters (as on 30th June 2009). The Bank has a network of
over 3723 ATMs (as on 30th June 2009) providing 24 hrs a day banking convenience to
its customers. This is one of the largest ATM networks in the country. The Bank has
strengths in both retail and corporate banking and is committed to adopting the best
industry practices internationally in order to achieve excellence.
History of Axis bank:
1993: The Bank was incorporated on 3rd December and Certificate of business on 14th December. The Bank transacts banking business of all description. UTI Bank Ltd. was promoted by Unit Trust of India, Life Insurance Corporation of India, General Insurance Corporation of India and its four subsidiaries. The bank was the first private sector bank to get a license under the new guidelines issued by the RBI.1997: The Bank obtained license to act as Depository Participant with NSDL and applied for registration with SEBI to act as `Trustee to Debenture Holders'. Rupees 100 crores was contributed by UTI, the rest from LIC Rs 7.5 crores, GIC and its four subsidiaries Rs 1.5 crores each.
1998: The Bank has 28 branches in urban and semi urban areas as on 31st July. All the branches are fully computerized and networked through VSAT. ATM services are available in 27 branches. The Bank came out with a public issue of 1,50,00,000 No. of equity shares of Rs 10 each at a premium of Rs 11 per share aggregating to Rs 31.50 crores and Offer for sale of 2,00,00,000 No. of equity shares for cash at a price of Rs 21 per share. Out of the public issue 2,20,000 shares were reserved for allotment on preferential basis to employees of UTI Bank. Balance of 3,47,80,000 shares were offered to the public. The company offers ATM cards, using which account-holders can withdraw money from any of the bank's ATMs across the country which is inter-connected by VSAT. UTI Bank has launched a new retail product with operational flexibility for its customers. UTI Bank will sign a co-brand agreement with the market, leader, Citibank NA for entering into the highly promising credit card business. UTI Bank promoted by India's pioneer mutual fund Unit Trust of India along with LIC, GIC and its four subsidiaries.1999: UTI Bank and Citibank have launched an international co-branded Credit card. UTI Bank and Citibank have come together to launch an international co-branded credit card under the MasterCard umbrella. UTI Bank Ltd has inaugurated an off site ATM at Ashok Nagar here, taking the total number of its off site ATMs to 13.m2000: The Bank has announced the launch of Tele-Depository Services for Its depository clients. UTI Bank has launch of `iConnect', its Internet banking Product. UTI Bank has signed a memorandum of understanding with equitymaster.com for e-broking activities of the site. Infinity.com financial Securities Ltd., an e-broking outfit is Typing up with UTI Bank for a banking interface. Geojit Securities Ltd, the first company to start online trading services, has signed a MoU with UTI Bank to enable investors to buy\sell demat stocks through the company's website. India bulls have signed a memorandum of understanding with UTI Bank. UTI Bank has entered into an agreement with Stock Holding Corporation of India for providing loans against shares to SCHCIL's customers and funding investors in public and rights issues. ICRA has upgraded the rating UTI Bank's Rs 500 crore certificate of deposit programmed to A1+. UTI Bank has tied up with L&T Trade.com for providing customized online trading solution for brokers.
2001: UTI Bank launched a private placement of non-convertible debentures to rise up to Rs 75 crores. UTI Bank has opened two offsite ATMs and one extension counter with an ATM in Mangalore, taking its total number of ATMs across the country to 355. UTI Bank has recorded a 62 per cent rise in net profit for the quarter ended September 30, 2001, at Rs 30.95 crore. For the second quarter ended September 30, 2000, the net profit was Rs 19.08 crore. The total income of the bank during the quarter was up 53 per cent at Rs 366.25 crore.
2002: UTI Bank Ltd has informed BSE that Shri B R Barwale has resigned as a Director of the Bank w.e.f. January 02, 2002. A C Shah, formerchairman of Bank of Baroda, also retired from the bank’s board in the third quarter of last year. His place continues to be vacant. M Damodaran took over as the director of the board after taking in the reins of UTI. B S Pandit has also joined the bank’s board subsequent to the retirement of K G Vassal. UTI Bank Ltd has informed that Shri Paul Fletcher has been appointed as an Additional Director Nominee of CDC Financial Service (Mauritius) Ltd of the Bank.And Shri Donald Peck has been appointed as an Additional Director (nominee of South Asia Regional Fund) of the Bank. UTI Bank Ltd has informed that on laying down the office of Chairman of LIC on being appointed as Chairman of SEBI, Shri G N Bajpai, Nominee Director of LIC has resigned as a Director of the Bank.2002: B Paranjpe & Abid Hussain cease to be the Directors of UTI Bank.UTI Bank Ltd has informed that in the meeting of the Board of Directors following decisions were taken: Mr Yash Mahajan, Vice Chairman and Managing Director of Punjab Tractors Ltd were appointed as an Additional Director with immediate effect. Mr N C Singhal former Vice Chairman and Managing Director of SCICI was appointed as an Additional Director with immediate effect. ABN Amro, UTI Bank in pact to share ATM. UTI Bank Ltd has informed BSE that a meeting of the Board of Directors of the Bank is scheduled to be held on October 24, 2002 to consider and take on record the unaudited half yearly/quarterly financial results of the Bank for the half year/Quarter ended September 30, 2002. UTI Bank Ltd has informed that Shri J M Trivedi has been appointed as an alternate director to Shri Donald Peck with effect from November 2, 2002.2003: UTI Bank Ltd has informed BSE that at the meeting of the Board of Directors of the company held on January 16, 2003, Shri R N Bharadwaj, Managing Director of LIC has been appointed as an Additional Director of the Bank with immediate effect.- UTI Bank, the private sector bank has opened a branch at Nellore. The bank's Chairman and Managing Director, Dr P.J. Nayak, inaugurating the bank branch at GT Road on May 26. Speaking on the occasion, Dr Nayak said. This marks another step towards the extensive customer banking focus that we are providing across the country and reinforces our commitment to bring superior banking services, marked by convenience and closeness to customers. -UTI Bank Ltd. has informed the Exchange that at its meeting held on June 25, 2003 the BOD have decided the following: 1) To appoint Mr. A T Pannir Selvam, former CMD of Union Bank of India and Prof. Jayanth Varma of the Indian Institute of Management, Ahmedabad as additional directors of the Bank with immediate effect. Further, Mr. Pannir Selvam will be the nominee director of the Administrator of the specified undertaking of the Unit Trust of India (UTI-I) and Mr. Jayanth Varma will be an Independent Director. 2) To issue Non-Convertible Unsecured Redeemable Debentures up to Rs.100 crs, in one or more tranches as the Bank's Tier - II capital. -UTI has been authorized to launch 16 ATMs on the Western
Railway Stations of Mumbai Division. -UTI filed suit against financial institutions IFCI Ltd in the debt recovery tribunal at Mumbai to recover Rs.85cr in dues. -UTI bank made an entry to the Food Credit Programme; it has made an entry into the 59 cluster which includes private sector, public sector, old private sector and co-operative banks. -Shri Ajeet Prasad, Nominee of UTI has resigned as the director of the bank. -Banks Chairman and MD Dr. P. J. Nayak inaugurated a new branch at Nellore.-UTI bank allots shares under Employee Stock Option Scheme to its employees. -Unveils pre-paid travel card 'Visa Electron Travel Currency Card' -Allotment of 58923 equity shares of Rs 10 each under ESOP. -UTI Bank ties up with UK govt fund for contract farm in -Shri B S Pandit, nominee of the Administrator of the Specified Undertaking of the Unit Trust of India (UTI-I) has resigned as a director from the Bank wef November 12, 2003. -UTI Bank unveils new ATM in Sikkim.2004: Comes out with Rs. 500 mn Unsecured Redeemable Non-Convertible Debenture Issue, issue fully subscribed -UTI Bank Ltd has informed that Shri Ajeet Prasad, Nominee of the Administrator of the Specified Undertaking of the Unit Trust of India (UTI - I) has been appointed as an Additional Director of the Bank w. e. f. January 20, 2004.-UTI Bank opens new branch in Udupi-UTI Bank, Geojit in pact for trading platform in Qatar -UTI Bank ties up with Shriram Group Cos -Unveils premium payment facility through ATMs applicable to LIC UTI Bank customers –Metal junction (MJ)- the online trading and procurement joint venture of Tata Steel and Steel Authority of India (SAIL)- has roped in UTI Bank to start off own equipment for Tata Steel. -DIEBOLD Systems Private Ltd, a wholly owned subsidiary of Diebold Incorporated, has secured a major contract for the supply of ATMs an services to UTI Bank -HSBC completes acquisition of 14.6% stake in UTI Bank for .6 m -UTI Bank installs ATM in Thiruvananthapuram -Launches Remittance Card' in association with Remit2India, a Web site offering money transfer services2005: - UTI Bank enters into a banc assurance partnership with Bajaj Allianz General for selling general insurance products through its branch network. -UTI Bank launches its first Satellite Retail Assets Centre (SRAC) in Karnataka at Mangalore.2006: -UBL sets up branch in Jaipur -UTI Bank unveils priority banking lounge
MILESTONE
Mar-08 Axis Bank launches Platinum Credit Card, India's first EMV chip based card
Dec-07 Axis Bank gets AAA National Long-Term Rating from Fitch Ratings
Sept-07 Axis Bank ties up with Banque Privée Edmond de Rothschild Europe for Wealth Management
July-07 UTI Bank re-brands itself as Axis Bank
July-07 UTI Bank successfully raises USD 1050 million
July-07 UTI Bank ties up with Tata Motors Ltd. for Car Loans
June-07 UTI Bank's expansion into Asia supported by FRS
May-07 UTI Bank launches 'Spice Rewards' on the bankcards - India's first-ever
merchant-supported rewards program
April-07 UTI Bank opens a Financial Services Category I Branch in the DIFC in Dubai
Mar-07 UTI Bank ties up with Hyundai Motor India Ltd. for Car Loans
Mar-07 UTI Bank ties up with IIFCL to provide finance for infrastructural projects in the country
Mar-07 UTI Bank launches Car Loans in association with Maruti Udyog Ltd
Mar-07 UTI Bank opens a Full License Bank Branch in Hong Kong
Feb-07 Finance Minister Shri P. Chidambaram Launches Shriram - UTI Bank Co - Branded Credit Card Exclusively For Small Road Transport Operators (SRTOS)
Feb-07 UTI Bank announces the launch of its Meal Card
Feb-07 UTI Bank announces the launch of its Gift Card
Feb-07 LIC Premium payment now through UTI Bank Branches
Jan-07 UTI bank opens Priority Banking branch in Mumbai and Kolkata
Nov-06 UTI Bank opens Priority Banking Lounge in Pune
Sep-06 UTI Bank launches operations of UBL Sales, its Sales Subsidiary - Inaugurates its first office in Bangalore
Aug-06 UTI Bank announces the launch of its Credit Card Business
Aug-06 UTI Bank becomes the first Indian Bank to successfully issue Foreign Currency Hybrid Capital in the International Market
Aug-06 UTI Bank Business Gold Debit Card MasterCard Launched - Designed for business related spending by SMEs and self employed professionals
Aug-06 UTI Bank announces the scheme of issuance of "Senior Citizen ID Card" in association with Dignity Foundation
Aug-06 UTI Bank rolls out its 2000th ATM
July-06 UTI Bank opens Representative Office in Shanghai
May-06 UTI Bank and LIC join hands to launch an Annuity Card for group pensioners of LIC
May-06 UTI Bank ties up with Geojit Financial Services to offer Online Trading service to its customers
Apr-06 UTI Bank opens its first international branch in Singapore
Jan-06 UTI Bank and UTI Mutual Fund to launch a new service for sale and redemption of mutual fund schemes through the Bank's ATMs across the country
Dec-05 UTI Bank wins International Financing Review (IFR) Asia 'India Bond
House' award for the year 2005
Oct-05 UTI Bank extends banking services to the rural milk producers in Anand and Kheda districts in Gujarat
July-05 UTI Bank and Visa International launch Mobile Refill facility - Anytime, Anywhere Pre-Paid Mobile Refill for all Visa Cardholders in India
May-05 UTI Bank and Bajaj Allianz join hands to distribute general insurance products
Apr-05 UTI Bank launches Smart Privilege - a special bank account designed for women
Mar-05 MTNL ties up with UTI Bank for payment of telephone bills through the Bank's ATM network
Mar-05 UTI Bank gets listed on the London Stock Exchange, raises US$ 239.30 million through Global
Mar-05 Depositary Receipts (GDRs)
Feb-05 UTI Bank appointed by Government of Karnataka as the sole banker for the Bangalore One (B1) project
Feb-05 UTI Bank launches a powerful version of Kisan Credit Card
Jan-05 UTI Bank ties up with Remit2India to launch the Remittance Card
Mar-04 UTI Bank enables premium payment of LIC policies through its ATMs.
Feb-04 Bilateral arrangement between State Bank of India (and its 7 associate member banks) and UTI Bank. comes into force with the commencement of operations (as on 3rd February '04) of the combined network of over 4000 ATMs
Feb-04 UTI Bank (by pursuing a proactive strategy of forging bilateral agreements and being a progressive player in the multi-lateral consortiums for shared ATM network) offers its customers access to over 7000 ATMs across the country - the largest to be offered by any bank in India so far.
Dec-03 Bank inaugurated its ATM at Thegu near the Nathula Pass in Sikkim. This ATM is at the highest altitude in India.
Sep-03 The Bank's ATMs across the country crosses the thousand mark
Sep-03 Bank launches the Travel Currency Card.
Aug-03 The Bank's Debit Card crosses the one million mark.
Aug-03 Total Advances cross Rs 7,000 Crore.
May-03 Bank declares a net profit of Rs 192.18 crores for FY03, a growth of 43% over the previous year
Mar-03 Bank signs Agreement with Employees Provident Fund Organization (EPFO) for disbursement of Pension
Mar-03 Bank crosses the 800 ATM mark
Mar-03 The Bank issues 3,83,62,834 fully paid up equity shares totaling to Rs. 164.00 crores, through a
Mar-03 Preferential offer to Life Insurance Corporation of India (now constituting 13.54% of
Mar-03 the Bank's expanded equity), Citicorp Banking Corporation, Bahrain (holding 3.84%), Chris Capital I,
Mar-03 LLC, Mauritius (holding 3.84%) and Karur Vysya Bank Ltd.(constituting 1.00%) The Bank also
Mar-03 Increases the authorized share capital of the Bank from Rs. 230 crores to Rs. 300 crores.
Feb-03 Bank, in a pioneering move, launches the AT PAR Cheque facility, free of cost, for all its Savings Bank customers.
Feb-03 Bank wins mandate to set up 14 ATMs at the Western Railway stations along the Mumbai division.
Oct-02 Bank launches Corporate iConnect? - the Internet Banking facility for Corporate
Aug-02 Bank signs MoU with BSNL regarding bill collection services across the country through both online and offline channels.
Apr-02 Bank opens its 500th ATM
Mar-02 Deposits Cross Rs.12, 000 Crore
Jan-02 The Bank's 100th branch opens at Tuticorin, Tamilnadu
Jan-02 The Bank opens an ATM at the Gol Dak-Khana, i.e. the New Delhi GPO, making it the first instance of a commercial bank setting up an ATM at any post-office in the country.
Dec-01 Total Advances cross Rs 5,000 Crore
Nov-01 The deposit base for the Bank crosses Rs. 10,000 Crore
Sep-01 Private placement of 26% stake in the Bank to CDC Capital Partners. UTI holding reduces to 44.88%
Aug-01 Bank signs MoU with India Post for introducing value added financial products and services to customers of both organizations, including setting up of UTI Bank ATMs in post offices.
July-01 Bank ties up with Govt of Andhra Pradesh for collection of commercial tax
Dec-00 Bank opens its 200th ATM. It becomes the 2nd largest ATM network in the country, a position held even today.
Oct-00 Bank becomes fully networked
July-00 E-commerce initiatives announced
July-00 Financial Advisory Services offered beginning with marketing of US 64
Apr-00 UTI Bank calls off its proposed merger with Global Trust Bank and surges ahead on its own.
Apr-00 Bank launches its Internet banking module, iConnect Retail loans introduced for the first time by the Bank
Mar-00 Profits cross Rs 50 crore mark for the first time.
Feb-00 Bank adopts Finacle software from Infosys for core banking
Jan-00 Dr.P.J Nayak takes over as Chairman and Managing Director from Shri Supriya Gupta.
Sep-98 UTI Bank goes public with a Rs. 71 crore public issue; Issue over-subscribed 1.2 times, over 1 lakh retail investors. UTI holding reduces to 60.85%
Jun-96 Crosses Rs.1000 crore deposit mark
Mar-95 Completes first profitable year in operation
Apr-94 First branch of UTI Bank inaugurated at Ahmedabad by Dr. Manmohan Singh, Hon'ble Finance Minister, Government of India.
Dec-93 UTI Bank comes into being
Dec-93 Registered office at Ahmedabad; Head office at Mumbai
1.3 PROBLEMS OF THE ORGANIZATION
These are some of the problems resulting in customers
switching to other banks-
Location/working time
Wait for service
Unresponsive
Reluctant response
Cut-throat competition
Business obligations
Lack of knowledge among customers about various banking concepts.
Lack of knowledge among customers about various benefits
Less branches and ATMs
Not providing service at promised time
1.4 COMPETITION INFORMATION
COMPETETIORS
1. ICICI Bank Ltd.2. HDFC Bank Ltd.3. AXIS BANK4. KOTAK MAHINDRA5. YES BANK6. Canara Bank7. Andhra Bank8. IDBI bank9. Bank of India10. Punjab National Bank11. ING VYSYA BANK12. JK Bank13. KARUR Vysya
ICICI Bank:-
ICICI was founded by the World Bank, Government of India and representatives of the private sector in 1955 to encourage and assist industrial development and investment in India. ICICI Bank is India’s second-largest bank with total assets of about Rs.112, 024 Crore and a network of about 450 branches and offices and about 1750 ATMs. It offers a wide range of banking products and financial services to corporate and retail customers through a
variety of delivery channels and through its specialized subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital, asset management and information technology. ICICI Bank posted a net profit of Rs.1637 Crore for the year ended March 31, 2004. ICICI Bank’s equity shares are listed in India on stock exchanges at Chennai, Delhi, Kolkata and Vadodara, the Stock Exchange, Mumbai and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE).
HDFC BANK:-
Hdfc slik is one of the leading private company. It is the first private sectors life insurance company to be granted a certificate of registration on 23rd oct. from IRDA.
Kotak Mahindra group:-
Kotak Mahindra group is one of the Indians leading financial org. offerings a wide range of financial services that encoposs every sphare of life from commercial banking to stock broking, to mutual funds to life insurance ,investment banking the group caters to the diverse financial needs of individuals and corporate.
Yes bank:-
Yes bank was in corporated in November 2003. It started its financial operations in started its financial operations in September 2004 & it was promoted by mr. Rana kapoor.
ANDHRA BANK:-
Andhra bank was registered on 20th nov 1923 . it was entered into ATM sharings arrangements with state bank of india , HDFC bank ,AXIS bank. It has 664 branches all over india.
IDBI BANK
The birth of IDBI bank took place after RBI issued guidelines for entery of new private sector bank in jan 93 it was in corporate at Gwalior under companies act on 15th sep. 1994
BANK OF INDIA
Bank of india was founded on 7th September 1906.It was natonalised with 13 other banks.It has 3021 branches in india spread all over the states.
PUNJAB NATIONAL BANK
The oldest bank in existing in india is the Punjab National bank,a government owned banktha traces its origins back to june 1806 & that is the second largest commercial bank in the country.
J&K BANK
J&K bank is the only bank in the country with the majority ownership vested with a state government of J&K.It is a sole banker to the government of J&K.
Competition
Last Price Market Cap.(Rs. cr.)
Net InterestIncome
ICICI Bank 837.95 93,418.46 25,706.93
HDFC Bank 1,855.10 84,915.95 16,172.91
Axis Bank 1,181.70 48,088.22 11,638.02
Kotak Mahindra 755.60 26,305.57 3,255.62
Yes Bank 278.95 9,475.02 2,369.71
IndusInd Bank 187.00 7,675.50 2,706.99
Federal Bank 333.45 5,700.14 3,673.23
ING Vysya Bank 306.80 3,680.57 2,232.90
JK Bank 751.00 3,640.68 3,056.88
Karur Vysya 499.35 2,718.24 1,757.94
1.5 S.W.O.T ANALYSIS OF THE ORGANIZATION
STRENGTH
● SUPPORT OF VARIOUS PROMOTERS
● HIGH LEVEL OF SERVICES
● KNOWLEDGE OF INDIAN MARKET
WEAKNESS
● NOT HAVING GOOD IMAGE
● MARKET CAPITALIZATION IS VERY LOW
● NOT BEEN FULLY ABLE TO POSITION ITSELF CORRECTELY
OPPORTUNITIES
● GROWING INDIAN BANKING SECTORS
● PEOPLE ARE BECOMING MORE SERVICE SECTOR
● IN THE GLOBAL MARKET
THREATS
FROM VARIOUS COMPETITORS
FOREIGN BANK
GOVT. BANKS
FUTURE MARKET TRENDS
CHAPTER 2 - OBJECTIVE AND METHODOLOGY
2.1 SIGNIFICANCE OF THE PROJECT
The project report helps to know the views of customers with Axis bank.
The bank would get to know its underlying areas and the ways to improve. The bank comes to know about their weaknesses and strengths, also in which departments they need to improve their services towards customers through the survey method conducted in different regions as their feedback.
The survey conducted also advertised the services provided by the Axis Bank. It also enhances the satisfaction level of their customers that the bank is conscious of their opinion.
The project helps the bank to know about strategies of the rival banks and helps to compete with them and also helps to know about its public image.
2.2 MANAGERIAL USEFULNESS OF THE STUDY
The SWOT analysis done helps to know the strengths, weaknesses, opportunities and threats of the organization which would help in managerial work.
The authentic data collected from the survey help the managers to judge their public image. The judgments could be easily made by the managers from the secondary data collected which clearly shows the progress and regress of the bank with the help of graphs, diagrams and tables etc.
This project can be useful to bank to improve the satisfaction level of customers and motivating them by fulfilling some of their suggestion. In return the bank can get improved result.
2.3 OBJECTIVE
The first objective of this project is to know the satisfaction level of the customers with Axis bank.
The other objective is to provide Axis bank the suggestion and opinions given by its customers to improve the facilities for customers’.
The next objective is to analyze from which policies the customers are getting more satisfaction and which policy is not very significant from a customer’s point of view.
The last objective is to know that what are the changes that a customer would like to do in the existing policies.
This project also suggests the ways to improve the status of the bank, to know the problems faced by the organization, competition faced by the organization and to know its market position.
2.4 SCOPE
The main aim of the study is the customer satisfaction with reference of bank.
Each and every project study along with its certain objectives also has scope for future. And this scope in future gives to new researches a new need to research a new project with a new scope. Scope of the study not only consist one or two future business plan but sometime it also gives idea about a new business which becomes much more profitable for the researches then the older one.
Scope of the study could give the projected scenario for a new successful strategy with a proper implementation plan.
The other scope the project gives to the bank are-
It enhances the satisfaction level of the customers. Helps in capturing more market and customers with better services. Lower the cost without compromising with quality. Increased level of growth.
All these benefits are offered to the bank at no cost and pain to its managers.
2.5 METHODOLOGY
There are various methods from where the data can be collected. Data can be collected from:
- Primary source: Data for which the researcher designs the survey instrument (questionnaire), administers the survey, collects the data, and enters the data into a database are considered primary data.
- Secondary source: Data that are used by someone other than the person who collected them are referred to as secondary data.
SAMPLING TECHNIQUES:
Population - total group of respondents that the researcher wants to study. Populations are too costly and time consuming to study in entirely.
Sample - selecting and surveying respondents (research participants) from the population.
Probability sample: a probability sample is one that gives every member of the population a known chance of being selected
-Simple random sample: anyone
- Stratified sample: different group (ages)
- Cluster sample: different areas (cities)
All are selected randomly.
Non-probability sample: a non-probability sample is an arbitrary grouping that limits the use of some statistical tests. It is not selected randomly.
-convenience sample: readily available
-quota sample: maintain representation
In this project, sample size, sample unit, type of sampling and type of scaling technique taken are as follows:-
Sample Size-100
Type of Sampling- Random Sampling
Data Sources are:-
Primary Sources: Questionnaire
Secondary sources: books, journals, internet sites.
Description of questionnaire is as follows:-
The questionnaire in this project contains 24 questions. All the 24 questions are closed ended questions, which are divided into 6 parts-accounts, deposits, loan, investment, policies and others.
These closed ended questions helps to maintain the interest of the customers in filling the questionnaire.
Closed ended questions are meant to know the satisfaction level of customers and to let the customers suggest the changes they like in the existing insurance policies. Also to express what are the new policies they like to introduce in the bank.
CHAPTER 3 - CON CEPTUAL DISCUSSION
CUSTOMERS SATISFACTION
Customer satisfaction, a business term, is a measure of how products and services supplied by a company meet or surpass customer expectation. It is seen as a key performance indicator within business and is part of the four of a Balanced Scorecard.
In a competitive marketplace where businesses compete for customers, customer satisfaction is seen as a key differentiator and increasingly has become a key element of business strategy.
There is a substantial body of empirical literature that establishes the benefits of customer satisfaction for firms.
Measuring customer satisfaction provides an indication of how successful the organization is at providing products and/or services to the marketplace.
Customer satisfaction is an abstract concept and the actual manifestation of the state of satisfaction will vary from person to person and product/service to product/service. The state of satisfaction depends on a number of both psychological and physical variables which correlate with satisfaction behaviors such as return and recommend rate. The level of satisfaction can also vary depending on other factors the customer, such as other products against which the customer can compare the organization's products.
Axis Bank has its registered office at Ahmadabad, while its central office is located at Mumbai. Currently it has an extensive network of over 905 branches across the nation. It also has a network of more than 3894 ATMs.
Customer satisfaction in relation to axis bank
Online Fund Transfer
Facility available of cash deposit for inter or intra branch Banking and cash withdrawal
RBI's Committee on Procedures and Performance Audit on Public Services have recommended that both the drop box facility and the facility for acknowledgement of the cheques at the regular collection counters should be available to customers and no branch should refuse to give an acknowledgement if the customer tenders the cheques at the counters.
Issue of Cheque Books: The Committee has observed that some banks do not allow depositors to collect their cheque book at the branch but insist on dispatching the cheque book by courier to the depositor. Further, it is stated by the Committee that the depositor is forced to sign a declaration that a dispatch by the courier is at the depositor's risk and consequence and that the depositor shall not hold the bank liable in any manner whatsoever in respect of such dispatch of cheque book. Committee has observed this as an unfair practice and advised banks to refrain from obtaining such undertakings from depositors. Banks should also ensure that cheque books are delivered over the counters on request to the depositors or his authorized representative.
Statement of Accounts / Pass Books: The Committee has noted that banks invariably show the entries in depositor’s passbooks / statement of accounts as "By Clearing" or "By Cheque". Further, in the case of Electronic Clearing System (ECS) and RBI Electronic Funds Transfer (RBIEFTR) banks invariably do not provide any details even though brief particulars of the remittance are provided to the receiving bank. In some cases computerized entries use sophisticated codes which just cannot be deciphered. With a view to avoiding inconvenience to depositors, banks are advised to avoid such inscrutable entries in passbooks statements of account and ensure that brief, intelligible particulars are invariably entered in passbooks / statements of account. Banks may also ensure that they adhere to the monthly periodicity prescribed by us while sending statement of accounts.
Traditional banking activities: Banks act as payment agents by conducting checking or current accounts for customers, paying cheques drawn by customers on the bank, and collecting cheques deposited to customers' current accounts. Banks also enable customer payments via other payment methods such as telegraphic transfer, EFTPOS, and ATM.
Banks borrow money by accepting funds deposited on current accounts, by accepting term deposits, and by issuing debt securities such as banknotes and bonds. Banks lend money by making advances to customers on current accounts, by making installment loans, and by investing in marketable debt securities and other forms of money lending. Banks provide almost all payment services, and a bank account is considered indispensable by most businesses, individuals and governments. Non-banks that provide payment services such as remittance companies are not normally considered an adequate substitute for having a bank account. Banks borrow most funds from households and non-financial businesses, and lend most funds to households and non-financial businesses, but non-bank lenders provide a significant and in many cases adequate substitute for bank loans, and money market funds, cash management trusts and other non-bank financial institutions in many cases provide an adequate substitute to banks for lending savings to
Accounting for bank accounts
Bank statements are accounting records produced by banks under the various accounting standards of the world. Under GAAP and IFRS there are two kinds of accounts: debit and credit. Credit accounts are Revenue, Equity and Liabilities. Debit Accounts are Assets and Expenses. This means you credit a credit account to increase its balance, and you debit a debit account to increase its balance.[7]This also means you debit your savings account every time you deposit money into it (and the account is normally in deficit), while you credit your credit card account every time you spend money from it (and the account is normally in credit).However, if you read your bank statement, it will say the opposite—that you credit your account when you deposit money, and you debit it when you withdraw funds. If you have cash in your account, you have a positive (or credit) balance; if you are overdrawn, you have a negative (or deficit) balance. The reason for this is that the bank, and not you, has produced the bank statement. Your savings might be your assets, but the bank's liability, so they are credit accounts (which should have a positive balance). Conversely, your loans are your liabilities but the bank's assets, so they are debit accounts (which should have a also have a positive balance).Where bank transactions, balances, credits and debits are discussed below, they are done so from the viewpoint of the account holder—which is traditionally what most people are used to seeing.
● OFFERINGS
Axis Bank offers a range of financial products and services to its clients throughout the country. It also has special strength in retail and corporate banking. Axis Bank offers following services:
Personal Banking Corporate Banking NRI Priority Banking
o Life Insurance Life Insurance Products 5 For Life
o Health Insurance Family Health Silver Health
o Motor Insuranceo Jewellery Insuranceo Personal Accident
Safe Guardo Home
Safe Home Safe Home Plus
o Travel Companiono Critical Illnesso Business advantage
Paymentso Bill Payo Electronic Clearing Serviceo Tax Payments
Tax e-Payments Direct Tax Payments Pension Disbursement
Other Serviceso Mobile Refillo Lockero Online Shoppingo IPOSmarto E-Statement
● CORPORATE BANKING
● Following services are offered by Axis Bank under Corporate Banking
Accountso Normal Current Accounto Business Advantage Accounto Business Select Accounto Business Classic Accounto Business Privilege Accounto Channel One Accounto Current Account for Govt. Organizationso Current Account for Bankso Current Account for Builders & Real Estate
o Capital Market Current Accounto Krishi Current Accounto Business Global Current Accounto Club 50 Current Accounto Shipping and Maritime Current Accounto Inland Road Transport Current Accounto Travel, Tourism and Hospitality Current Accounto Local Current Accounto Current Account for Pharmao Cash Management Current Accounto Current Account for Chartered Accountants
Credito Large Corporates
Working Capital Finance Term Loans Trade Services Structured Finance Supply Chain Management Overseas Transactions
o Agri Business Kisan Power Powertrac Commodity Power Contract Farming Arthia Power
Paymentso Bill Payo Electronic Clearing Serviceo Tax Payments
Direct Tax Payments Pension Disbursement
Remittances
o SWIFTo Partner Banks
Other Serviceso Mobile Refillo Lockero Online Shopping
● 24 X 7 BANKING
Following services are offered under 24 x 7 Banking:
Internet Banking Mobile Banking
o Savings Accounto NRI Accounto Current Account
Phone Banking Visa Money Transfer Power Transfer ATM
CHAPTER 4 - DATA ANALYSIS
The Account Is An Endeavour By The Bank To Understand The Consumers' Needs And Redefine Banking To Suit Your Requirements For A Truly Comfortable Banking Experience. Easy access Savings Account Gives You Instant Access to Your Money Anywhere, Anytime.
MOST OF THE CUSTOMERS FEEL THAT IT’S EASY TO ACCESS ONES ACCOUNT AT THE AXIS BANK.
10% Customers Are More Than Satisfied With Ease Of Accessibility Of Account.
40% Customers Are Saying That It’s good.
40% Say that it’s Average and10% Customers Are Not Satisfied.
EXEC GOOD AVERAGE NEED IMP.
Series 1 10% 40% 40% 10%
3%
8%
13%
18%
23%
28%
33%
38%
43%
10%
40% 40%
10%
EASY TO ACCESS ACCOUNT
Series 1% BASIS
As a
Prime Savings account holder, you enjoy access to a wide network of over 1000 branches and one of the largest ATM networks (4055 ATMs as on 31st March 2009) in India giving you easy access to your account from almost any corner of the country.
10% customers are feeling excellent.
40% are feeling good.
40% are not sure or stand average.
Rest 10% are not satisfied.
EXEC GOOD AVERAGE NEED IMP.
Series 1 10% 40% 40% 10%
3%
8%
13%
18%
23%
28%
33%
38%
43%
10%
40% 40%
10%
PRIMARY SAVING ACCOUNT
Series 1
% BASIS
Its Corporate Salary Power Offering is designed to offer payroll solutions through in a 24 X 7 environment
MOST OF THE CUSTOMERS ARE HAPPY WITH SALARY ACCOUNT.
20% CUSTOMERS ARE MORE THAN SATISFIED WITH SALARY ACCOUNT.
EXEC GOOD AVERAGE NEED IMP.
Series 1 20% 50% 25% 5%
5%
15%
25%
35%
45%
55%
20%
50%
25%
5%
SALARY ACCOUNT
Series 1% BASIS
50% CUSTOMERS ARE FEELING GOOD.
25% CUSTOMERS ARE FEELING AVERAGE.
5%CUSTOMERS ARE NOT FEELING GOOD.
EXEC GOOD AVERAGE NEED IMP.
Series 1 5% 40% 30% 15%
3%
8%
13%
18%
23%
28%
33%
38%
43%
5%
40%
30%
15%
WOMEN'S SAVING ACCOUNT
Series 1
In today's busy world it's tough being a working woman. Right from shuttling between a job and family to taking care of her finances she has to be on her toes all the time. Keeping this in mind, Axis Bank has designed a savings account best suited for the woman of today. With the Smart Privilege Account, you can manage your money and your life and as well as enjoy a host of lifestyle privileges. Furthermore Axis Bank's Smart Privilege Account ensures that you have enough time for all the important things in life.
5% feels excellent,
40% feels good,
30% feels average and 15% are not satisfied.
EXEC GOOD AVERAGE NEED IMP.
Series 1 10% 30% 50% 10%
5%
15%
25%
35%
45%
55%
10%
30%
50%
10%
PENSION SAVING ACCOUNT
Series 1%BASIS
Pension Savings Bank Account, from Axis Bank is specifically, designed for Pensioner's (Existing & Prospective) of Central Govt. Civil Ministries/ Departments & Defence Ministry keeping in mind the fact that a Pensioner's banking requirements are wholly different and requires special consideration.
10% are very much satisfied,
30% are feeling good,
50% are quite ok and 10% say that it needs improvement.
EXEC GOOD AVERAGE NEED IMP.
Series 1 0.2 0.4 0.3 0.1
3%
8%
13%
18%
23%
28%
33%
38%
FIXED DEPOSIT%
BA
SIS
Axis Bank offers you simple reinvestment Fixed Deposits (at very competitive interest rates), which can be opened with a minimum investment of Rs 10,000. You can make additions to your deposit in multiples of Rs 1,000 each. The tenure of your deposit must be a minimum of 6 months.
20%are feeling excellent,
40% are at sticking to good,
30% feel ok ok and 10% say that it needs improvement.
EXEC GOOD AVERAGE NEED IMP.
Series 1 0.05 0.4 0.45 0.1
3%
8%
13%
18%
23%
28%
33%
38%
43%
TAX SAVING FIXED DEPOSIT%
B
ASIS
In the Finance Bill of 2006, the government had announced Tax benefits to Bank Term Deposits which are of over 5 year tenure. The salient points of the scheme notification are; (a) Fixed tenure without premature withdrawal. (b) Year is defined as a financial year. (c) Amount limited to Rs. 100 minimum and Rs. 100,000 maximum. (d) Bank will issue a Fixed Deposit Receipt that shall be the basis of claiming tax benefit. (e) Term deposit under this scheme cannot be pledged to secure a loan.
5% are feeling excellent,
40% are satisfied,
45% are average and 10% say that it needs improvement.
EXEC GOOD AVERAGE NEED IMP.
Series 1 0.2 0.3 0.4 0.1
3%
8%
13%
18%
23%
28%
33%
38%
CASH DEPOSIT
%
BAS
IS
You can deposit cash at your nearest AXIS Bank branch. Just put your cash in a cash deposit envelope provided by bank. Put our account information and submit it to the cash deposit counter.
20% feels great,
30% are satisfied,
40% are feeling average and 10% are still not satisfied.
EXEC GOOD AVERAGE NEED IMP.
Series 1 5% 40% 30% 25%
3%
8%
13%
18%
23%
28%
33%
38%
5%
40%
30%
25%
ON LINE TRADING%
B
ASIS
Axis Bank in alliance with Geojit Financial Services now offers you an Online Trading Account. Trade from the comfort of your home or office either through the Internet or the Phone. This service provides you with an integrated Savings Bank Account, Demat Account and an Online Trading Account to give you a convenient and paper free trading experience.
5% are feeling excellent,
40% are feeling good,
30% are just satisfied and 25% says that it needs improvement.
EXEC GOOD AVERAGE NEED IMP.
Series 1 0.2 0.3 0.4 0.1
3%
8%
13%
18%
23%
28%
33%
38%
FIXED INCOME%
B
ASIS
8.5% Relief Bonds, 1999: Issued by Reserve Bank of India (RBI) are available for sale at Axis Bank counters.
20% are feeling excellent,
30% are feeling good,
40% have not tried and 10% say it needs improvement.
EXEC GOOD AVERAGE NEED IMP.
Series 1 0.2 0.3 0.4 0.1
3%
8%
13%
18%
23%
28%
33%
38%
MUTUAL FUND
%
BA
SIS
A Mutual Fund is a trust that pools the savings of a number of investors who share a common financial goal. The money thus collected is then invested in capital market instruments such as shares, debentures and other securities. The income earned through these investments and the capital appreciation realized is shared by its unit holders in proportion to the number of units owned by them.
20% say that it’s excellent,
30% are feeling good,
40% are standing at average and 10% are not happy.
EXEC GOOD AVERAGE NEED IMP.
Series 1 0.2 0.3 0.4 0.1
3%
8%
13%
18%
23%
28%
33%
38%
E- DEPOSITING SERVICES%
B
ASIS
Axis Bank now permits submission of delivery instructions in electronic form using Internet based service called Speed-e. Physical delivery instructions need not be submitted in case you are submitting the instructions on Speed-e.
20% are feeling excellent,
30% are feeling good,
40% has average liking and 10% feel that it’s poor.
20%
30%40%
10%
HOME LOAN
EXEC GOOD AVERAGE NEED IMP.
IEXEC - 20%GOOD - 30%AVERAGE- 40%NEED IMP- 10%
Axis Bank's Power Home puts an end to your Real Estate troubles. Augment your reach and buy the house that you've set your heart on.
20% feels excellent,
30% feels good,
40% are feeling average and 10% says it needs improvement.
20%
30%
40%
10%
PERSONAL LOAN
EXEC
GOOD
AVERAGE
NEED IMP.
EXEC - 5%GOOD - 40%AVERAGE- 30%NEED IMP- 25%
Presenting Axis Bank's personal Loans. Go on your dream holiday, buy the latest lifestyle gizmo, gift your wife a lovely diamond ring, renovate your house or just squash a temporary cash crunch. Let us give you a helping hand. Our personal loans will meet all your personal requirements.
20% says excellent,
30% says well,
40% feels average and 10% says it needs improvement.
20%
30%
40%
10%
CAR LOAN
EXECGOODAVERAGENEED IMP.
EXEC - 10%GOOD - 40%AVERAGE- 30%NEED IMP- 20%
Axis Bank's Power Drive will help realize your dream. With some of the
world's finest cars now available in India don't let the price tags discourage you.
Power Drive will bridge that distance by financing a major part of the cost of
your new car. So, you don't have to put the brakes on your ambition.
20% feels excellent,
30% says well,
40% feels average and 10% say that it needs improvement.
20%
30%
40%
10%
STUDY LOAN
EXECGOODAVERAGENEED IMP.
EXEC - 20%GOOD - 30%AVERAGE- 30%NEED IMP- 20%
Axis Bank's Study Power aims to provide financial support to deserving
students for pursuing higher professional or technical education in India and
abroad. The loan would be provided to students who have obtained admission to
career-oriented courses eg, medicine, engineering, management etc., either at
the graduate or post-graduate level.
20% feel excellent,
30% feels good,
40% feels average and 10% says that it needs improvement.
EXEC GOOD AVERAGE NEED IMP.
Series 1 20% 30% 40% 10%
3%
8%
13%
18%
23%
28%
33%
38%
43%
20%
30%
40%
10%
TAXATION POLICY
Series 1
% BASIS
People are not much aware of tax collection policies by axis bank.
20% feels excellent,
30% feels well,
40% don’t know and 10% term it bad.
EXEC GOOD AVERAGE NEED IMP.
Series 1 10% 30% 50% 10%
5%
15%
25%
35%
45%
55%
10%
30%
50%
10%
MAX LIFE POLICY
Series 1% BASIS
10% calls it excellent,
30% say it well,
50% are not aware and 10% are felling not satisfied.
EXEC GOOD AVERAGE NEED IMP.
Series 1 20% 40% 30% 10%
3%
8%
13%
18%
23%
28%
33%
38%
43%
20%
40%
30%
10%
CHEQUE COLLECTION POLICY
Series 1% BASIS
Cheque collection policies are satisfactory for customers.
20% find it excellent,
40% are satisfied,
30% are fine and 10% are unhappy.
EXEC GOOD AVERAGE NEED IMP.
Series 1 5% 40% 40% 15%
3%
8%
13%
18%
23%
28%
33%
38%
43%
5%
40% 40%
15%
BENEFITS OFFERED
Series 1% BASIS
Customers always want more, they are not completely satisfied.
5% feel excellent,
40% feel well,
40% are with average and rest 15% are unhappy zone.
EXEC GOOD AVERAGE NEED IMP.
Series 1 10% 30% 50% 15%
5%
15%
25%
35%
45%
55%
10%
30%
50%
15%
FEEL OF THE BRANCHES & ATM'S
Series 1% BASIS
There are not much people who feel that the branches and ATMs are easily accessible in comparison to other banks.
10% are with excellent,
30% says well,
50% don’t feel anything and 15% are dissatisfied.
EXEC GOOD AVERAGE NEED IMP.
Series 1 15% 30% 45% 10%
3%
8%
13%
18%
23%
28%
33%
38%
43%
48%
15%
30%
45%
10%
QUALITY OF ALTERNATE CHANNELS
Series 1% BASIS
Alternate channels of the banks are ATM channel, Internet banking channel, Mobile banking channel.
The quality is not too good according to the customers.
15% are feeling excellent,
30% calls it good,
45% are fine and 10% calls it poor.
EXEC GOOD AVERAGE NEED IMP.
Series 1 10% 40% 45% 5%
3%
8%
13%
18%
23%
28%
33%
38%
43%
48%
10%
40%45%
5%
OVER ALL IMPRESSION OF THE BANK
Series 1% BASIS
The overall impression of the bank is average. This means that the customers do not like the Axis bank fully and could shift to other banks too.
10%calls it excellent,
40% feels good,
45% calls it average and 5% says that it needs improvement.
CHAPTER – 5 FINDING AND RECOMMENDATIONS
Conclusion
With the emerge trend of globalization and privatization the look of Indian economy has taken
new dimensions. There are more possibilities of inward and outward souring at capital, labor
and technology. Indian export and job opportunity has tremendously increased. This new look
of economy has raised the demand for better banking facilities for corporate and there staff
member.
There is great opportunity to established long-term relationship with bulk of people. AXIS
bank is one of these finical institutes, which has given new vision to these offers.
To undergo this study our main objective was to study the level of satisfaction of the
customers with Axis bank. It was found that the most of customer appreciate the service
provided by the bank and more keen to know about other offering of the bank.
At last we concluded the study on the basis of finding and analysis of the survey.
Most of the existing customers of account holder were satisfied with the facilities provided by
the bank.
Beside it account holders are also interested to know more about the other products like
demat, credit card, home lone etc. But the lack of qualified marketing executive sales
persons, the proper presentation is not going.
To the potential customer, so the other banks, who having qualified marketing executives,
grab the opportunity of market so some more effort should be done to grab the opportunity.
This survey states that the organization has provide a wide range of product service and
investment plans. Banking that is flexible, innovative and prompt in meeting the customer
requirement. Over all it was observed that the customer were satisfied being as a member of
“AXIS bank family”. They think this one provides better services, product and facilities at
one place in comparison of other competitor banks.
And finally we could say that:Axis bank has developed manifold in short period of time due to facilities and services provided to their customer and this growth rate can be keep it up if they start to go in semi-urban areas. In last couple of years they have opened new many branches and they should open many more. The working staff is very co-operative in nature and due to that the bank
will also get good benefit. Axis Bank has provided their customer Net-banking facilities and due to that transactions are done fast. Charges at Axis Bank are on lower side when we compare it with other Banks.
FINDINGS: ---
The project is based on the topic Axis bank and level of satisfaction with its customers.
In contrast with the topic, to check the satisfaction level of its customers; a questionnaire about the different services provided by the Axis bank was prepared. The account holders of Axis bank were requested to fill the questionnaire by 10 members of the group who randomly selected them from different areas across Delhi.
This survey conducted in different regions is truly authentic and justified. The suggestions of the customers are very valuable for the success of an organisation. Especially for a bank, its customers play a significant role in its progress. There is a lot of scope in the banking sector as each and every individual must have his/her account at some or the other bank. So a bank has to value its customers suggestions, if it wants to progress.
This shows the importance of the survey conducted from the customers of Axis bank for the Axis bank.
OVERALL ANALYSIS
Accounts
The overall impression of the accounts department of the Axis bank is average. Most of the people lie under the average category. They are not fully satisfied with the accounts of the Axis bank. Some people believed that it’s not easy task to access ones account. The services under the accounts department need improvement.
Deposits
The impression of the deposits department of the Axis bank is not good. People feel that the procedure is very lengthy and the proper care is not taken of the customers who had come to deposit the money with the axis bank.
More departments are required to take care of the customers who had come to deposit their money.
Investment
The impression of the people for the investment department of the Axis bank is very good.
The feel the online trading is quite easily accessible and very reliable.
E-depositing services are also quite reliable but are not experienced by many customers.
Loan
The impression of the customers for the loan department of the Axis bank is average. They are not satisfied with the acquaintance of loan at easy terms to them.
They feel that the home loans should be given on flexible terms and for long period.
Policies
The impression of the customers for the policies department of the Axis bank is average.
More of them are satisfied with the cheque collection policy.
Others
Customers feel that the other department needs the improvement.
Benefits offered are not satisfactory; quality of alternate channels is average.
But the ATMs and the BRANCHES are easily available.
The overall impression of the bank is average. This means that the customers do not like the Axis bank fully and could shift to other banks too.
Recommendations
On the basis of finding and analyzing the research recommendedFollowing suggestion:
New and different product should be launched to attract more customers Response given by some customers should be taken care of and steps should
be taken on the same. More interactive meeting at top level or events should be arranged so more
customers could come in contact. More branch in state should be opened so that more people can have the
service Customer service should be improved. There is need to recruit the more qualified persons on the post of field officer
who are made more liable and responsible commitment and clearly defined the product offer. On this post competitor banks recruit the management trainee and pay a good scale and incentive, so for the qualitative services AXIS bank also follow the same
To eliminate the dissatisfaction of customer community and product demand are send to the customer in proper time period.
To eliminate the dissatisfaction proper workshop and awareness programs like campaigning are helpful and held on the client.
As early as possible bank should start overdraft and CC limits to expend the market.
•
Any organization that wants to prosper should invite the suggestions of its customers and to some extent, introduce the changes which are necessary from the customers’ point of view.
In short;1. Number of Branches should be increased covering a widerarea in various states.2. A wide publicity to be given about the organization and its products through various means of communications to keep growth moments.
3. More number of training and educational programmesShould be included in Banks schedule.4. Developing a learning culture through continuousLearning process.
ANNEXURE
Balance sheet
Mar ' 10 Mar ' 09 Mar ' 08 Mar ' 07 Mar ' 06
Sources of funds
Owner's fund
Equity share capital 405.17 359.01 357.71 281.63 278.69
Number of equity shares outstanding (Lacs) 4051.74 3590.05 3577.10 2816.31 2786.91
Questionnaire
I am a student of JAGANATH INSTITUTE OF MANAGEMENT SCIENCES. I am undergoing for summer training project titled “AXIS BANK AND ITS SATISFACTION TO CUSTOMERS”. The questionnaire is an attempt to judge the satisfaction level provided by Axis Bank. The information provided by you will be used for this project only. Please spare few moments to fill this questionnaire.
