project new.docx

8/19/2019 project new.docx

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A

Project Report

On

“CUSTOMER RELATIONS MANAGEMENT IN

SERVICE ORGANIZATION IN INDIAN BANKING

SECTOR WITH REFERENCE TO TWO

NATIONALIZED AND TWO PRIVATE SECTOR BANK.”

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CERTIFICATE

This is to certify that Ms. has worked and completed her Project Work

for the degree of MASTER ! "OMMER"E in the fac#lty of

"OMMER"E in the s#$ject of A MANAGEMENT on Title of project

work to $e written %Cu(t"m% R$ti"&( M$&$,m&t i& (%'i-

"%,$&i3$ti"&& #nder my s#per'ision. t is her own work and facts

reported $y her(his personal findings and in'estigations.

N$m 0 Si,&$tu% "* Gui! D$t "* (ubmi((i"&/

N$m 0 Si,&$tu% "* P%"*(("% i& C+$%,4Di%-t"%4P%i&-i5$ "* t+

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the #ndersigned Miss Shraddha kachhiya here $y) declare that

this project work entitled %Cu(t"m% R$ti"&( M$&$,m&t i&

(%'i- "%,$&i3$ti"&& is a res#lt of my own research work and hasnot $een pre'io#sly s#$mitted to any other *ni'ersity for any

other e+amination. here $y f#rther declare that all information

of this doc#ment has $een o$tained and presented in accordance

with academic r#les and ethical cond#ct.

C", S$t N"/ 11.

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SR NO TOPIC PAGE NO.

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C%ti*i-$t 1

D-$%$ti"& b) (tu!&t ;

9. I&t%"!u-ti"& "* -u(t"m% %$ti"&(+i5m$&$,m&t

<

. ntrod#ction of "RM

./ Rational of the st#dy

.0 O$jecti'e of the st#dy

.1 Research methodology

.2 "hapteri3ation scheme

.4 5imitation of st#dy

1 Cu(t"m% %$ti"&(+i5 m$&$,m&t $

t+"%) 5%(5-ti'

91

/. 6istory of "RM

/./ Meaning of "RM

/.0 ,efinition

/.1 Ad'antages

/.2 ,isad'antages

/.4 !eed of "RM

; M$%=ti&, (t%$t,i( t" !'"5 btt%

CRM

9<

0. 7eneric strategic framework

0./ "ompetiti'e ad'antages

0.0 ,ifferentiation

0.1 8oc#s strategy

0.2 'al#e discipline model

0.4 "hallenges of implementing "RM

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0.9 Application of "RM in $anking sector

0.: Organi3ation learning philosophy

0.;


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Anne+#re 99>

C+$5t% 9

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I&t%"!u-ti"&

"*

Cu(t"m%

R$ti"&(+i5

M$&$,m&t 9.9 I&t%"!u-ti"& "* CRM

Cu(t"m% %$ti"&(+i5 m$&$,m&t CRMB has the $#siness p#rpose of intelligently

finding) marketing) selling to and ser'icing c#stomers. "RM is a $roadly #sed term that

co'ers concepts #sed $y companies) and p#$lic instit#tions to manage their relationships

with c#stomers and stakeholders. Technologies that s#pport this $#siness p#rpose incl#de

the capt#re) storage and analysis of c#stomer) 'endor) partner) and internal process

information. 8#nctions that s#pport this $#siness p#rpose incl#de Sales) Marketing and

"#stomer Ser'ice) Training) Professional ,e'elopment) Performance Management)

6#man Reso#rce ,e'elopment and compensation.

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• To st#dy the c#stomer satisfaction for the c#stomer relationship management of 6,8"

and "" $ank.

• To analy3e the le'el of c#stomer centric from $oth c#stomer and employee point of 'iew.

9.>R($%-+ Mt+"!"",)/

We ha'e done e+ploratory research and for that p#rpose we had #sed secondary data. We

had collected this secondary data from 'ario#s p#$lished materials like newspapers) maga3ines)

$ooks etc and from nternet we$ sites. 8rom these 'ario#s information and data we had done

D#alitati'e and D#antitati'e analysis to find o#t impact of 'ario#s forces) effect of macro

en'ironmental factors) major trends and f#t#re of the ind#stry.

9. S"u%- "* D$t$/

Primary data

Secondary data.

1. R($%-+ I&(t%um&t

Research tool were in depth inter'iew of acco#nt holder.

;. S$m5 Si3

/2= acco#nt holders

>. S$m5i&, mt+"!(

!on?pro$a$ility sampling

F#dgmental sampling

C"&t$-t mt+"!/

• 6ere we ha'e cond#cted personal inter'iew for data collection.

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9.?C+$5t%i3$ti"& (-+m/

C+$5t% N".9 s a$o#t the introd#ction and general information of the project which incl#des

ntrod#ction) Rationale of the st#dy) O$jecti'e of the st#dy) ,ata so#rce and methodology)

"hapteri3ation scheme and 5imitation of the st#dy.

C+$5t% N".1 s need on the f#ndamental and $asic knowledge of "RM. t incl#des history

meaning and definition) ad'antages and need of "RM.

C+$5t% N".; s a$o#t the strategies of "RM which is #sed $y the $anks for $atterment of

c#stomer relationship. t incl#de generic strategic framework) competiti'e ad'antage)

differentiation ) foc#s strategy) 'al#e discipline model challenges of implementing "RM)

and application of "RM.

C+$5t% N".> Shows the "RM in the 6,8" G "". Which incl#des ndian


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Time achie'e is considered inadeD#ate to cond#ct s#ch s#r'ey.

The res#lt of the st#dy may not $e generali3ed to all.

Some of the respondents were non co?operati'e.

C+$5t%1

CRMA

T+"%)

P%(5-ti'

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1.9 Hi(t"%) "* CRM/

"#stomer Relationship Management is the esta$lishment) de'elopment) maintenance andoptimi3ation of long?term m#t#ally 'al#a$le relationships $etween cons#mers and the

organi3ations. S#ccessf#l c#stomer relationship management foc#ses on #nderstanding the needs

and desires of the c#stomers and is achie'ed $y placing these needs at the heart of the $#siness $y

integrating them with the organi3ationCs strategy) people) technology and $#siness processes. At

the heart of a perfect "RM strategy is the creation of m#t#al 'al#e for all the parties in'ol'ed in

the $#siness process. t is a$o#t creating a s#staina$le competiti'e ad'antage $y $eing the $est at

#nderstanding) comm#nicating) and deli'ering) and de'eloping e+isting c#stomer relationships in

addition to creating and keeping new c#stomers. So the concept of prod#ct life cycle is gi'ing

way to the concept of c#stomer life cycle foc#sing on the de'elopment of prod#cts and ser'ices

that anticipate the f#t#re need of the e+isting c#stomers and creating additional ser'ices that

e+tend e+isting c#stomer relationships $eyond transactions. "RM is a comprehensi'e approach

for creating) maintaining and e+panding c#stomer relationship. t pro'ides seamless co?ordination

$etween c#stomer ser'ice) marketing) information technology and other c#stomer related

f#nctions. t integrates people) process and technology to ma+imi3e relationships with all the

c#stomers. t does not aim to $#ild closer relationship with all c#stomers) $#t it recommends that

organi3ations take initiati'e to identify the most 'al#a$le c#stomers $y looking for their life time

'al#e. "RM means $#ilding an interdependent relationship with the c#stomer in which each relies

on the other for $#siness sol#tions and s#ccesses.

1.1 M$&i&, "* CRM

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"#stomer relationship management "RMB has the $#siness p#rpose of intelligently finding)

marketing) selling to and ser'icing c#stomers. "RM is a $roadly #sed term that co'ers

concepts #sed $y companies) and p#$lic instit#tions to manage their relationships with

c#stomers and stakeholders. Technologies that s#pport this $#siness p#rpose incl#de the

capt#re) storage and analysis of c#stomer) 'endor) partner) and internal process

information. 8#nctions that s#pport this $#siness p#rpose incl#de Sales) Marketing and

"#stomer Ser'ice) Training) Professional ,e'elopment) Performance Management)

6#man Reso#rce ,e'elopment and compensation.

1.; D * i& it i" &

H"#stomer Relationship Management is a comprehensi'e approach for creating)

maintaining and e+panding c#stomer relationships .‟

H"#stomer relationship management "RMB is the dynamic process of managing a

c#stomer?company relationship s#ch that c#stomers elect to contin#e m#t#ally $eneficial

commercial e+changes and are diss#aded from participating in e+changes that are

#nprofita$le to the companyH.

%According to


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greater emphasis on c#stomer retention thro#gh loyalty?$#ilding programmes.

planning prod#ct cross?marketing strategies.

meas#ring marketing campaigns and sales acti'ities impact.

optimising) a#tomation and control of marketing) sales and ser'ice processes.

rationalisation of operations sa'ing time and money.

1.? Di($!'$&t$,(/

diffic#lt to work with.

reD#ire additional work inp#tting data.

deh#mani3e a process that sho#ld $e personal.

reD#ire contin#o#s maintenance) information #pdating) and system #pgrading costly.

diffic#lt to integrate with other management information systems

1.: N! "* CRM/

A Relationship?$ased Marketing approach has the following $enefits

O'er time) retail $ank c#stomers tend to increase their holding of the other prod#cts from

across the range of financial prod#cts ( ser'ices a'aila$le.

5ong?term c#stomers are more likely to $ecome a referral so#rce.

The longer a relationship contin#es) the $etter a $ank can #nderstand the c#stomer and

his(her needs G preferences) and so greater the opport#nity to tailor prod#cts and ser'ices

and cross?sell the prod#ct ( ser'ice range.

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"#stomers in long?term relationships are more comforta$le with the ser'ice) the

organi3ation) methods and proced#res. This helps red#ce operating cost and costs arising

o#t of c#stomer error

ntense "ompetition There is intense competition among the Pri'ate Sector


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C+$5t%;

M$%=ti&, (t%$t,i(

t"

!'"5

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b$tt%

CRM

;.9 G&%i- St%$t,i- F%$m6"%=/

%"ompetiti'e ad'antage grows f#ndamentally o#t the 'al#e a firm is a$le to create for its $#yers

that e+ceeds the firm>s cost of creating it. Kal#e is what c#stomers willing to pay and s#perior

'al#e stems from offering lower prices than competitors for eD#i'alent $enefits of pro'iding

#niD#e $enefits that more than offset a higher price.& The theory consists of three main strategies

cost leadership) differentiation and foc#sB which are shown in the fig#re /. while cost

leadership and differentiation strategies address a whole ind#stry) foc#s strategies address

specific or small cl#sters of c#stomers within an ind#stry.

;.1 C"m5titi' A!'$&t$,/

C"m5titi' S-"5/

The strategy reD#ires a firm $ankB to ser'e at the lowest cost in the ind#stry. Economies of

scale) #niD#e technology that is not a'aila$le to other firms) #sing cost effecti'e channels are

some of the ways for $eing a$le to #se the strategy. The strategic logic of cost leadership strategy

reD#ires a firm to $e cost leader) not one of the se'eral firms 'ying this position. 8or $anking

sector) a $road target cost leadership strategy itself is not a good strategy as it decreases the profit

margins e+tensi'ely which will soon $e followed $y other $anks. ThatCs why there is no

significant difference in general interest rates) loan rates) transaction fees of $ank in a sta$le

economy and $anking sector.

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;.; Di**%&ti$ti"&/

The aim of the strategy is to $e #niD#e in the ind#stry and this #niD#eness m#st $e 'al#a$le for

c#stomers. The #niD#eness can $e one or a set of dimensions. Areas of differentiation can $eI

prod#ct ser'ice) marketing) sales) image) deli'ery and etc. n $anking sector) differentiation can

$e crafted $y a single or a set of these dimensions. While $rand differentiation and prod#ct

differentiation wo#ld $e applica$le for $road targeting ser'ice) marketing and deli'ery

differentiation strategies wo#ld $e s#ita$le for narrow scope targeting. A $road target ser'ice

differentiation is not for $anks they are looking for profita$ility. That is why today many $anks

#se c#stomer segmentation to ser'ice its c#stomers rather than gi'en the same ser'ice to all

c#stomers.

;.> F"-u( St%$t,)/

The foc#s strategy in'ol'es concentration on partic#lar $#yer gro#ps) geographic areas or

prod#ct(market segments.


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$anks) in a recent $anking conference. Porter thinks that $anking sector is entering an era of

strategic positioning. To s#cceed in the new era) companies ha'e to deli'er something #niD#e)

$#t most $anks do what others do) what he calls) to competition. 6e stated that HThe worst thing

yo# can do is compete with yo#r ri'al on the same things. f yo# do) the competition almost

always $ecomes a destr#cti'e arms race. Strategy) is stri'ing to $e #niD#e) which reD#ired

choices.H As it can $e #nderstood) porter insists the s#ccessf#l firms can only compete with one

generic strategy) in isolation of other generic strategies. 8or many researchers this 'iewpoint is

not acc#rate. What sho#ld $e pointed o#t is the s#ccessf#l firms tend to compete with m#ltiple

strategies. "ontingent strategies are important for their s#r'i'al. 6all ;:0L 6am $rick ;:0L

Wright) ;:4) cited in Wright et al ;::B The other critical 'iew for porterCs monolithic strategy

comes from Wright ;:4 cited in Wright et al.B) he e+po#nds that in a fragmented ind#stry like

$anking) where there the many players in different si3es) it is diffic#lt to $e s#ccessf#l with

adapting one generic strategy. n $anking ind#stry) a s#staina$le competiti'e ad'antage can $e

gained with a $lend of different strategies) $#t a powerf#l foc#s differentiation strategy in ser'ice

cannot $e neglected. Prod#cts and price can $e easily copied. Ser'ice is more diffic#lt to imitate

than a prod#ct $eca#se ser'ice reD#ires c#stomer inp#t and in'ol'ement Payen /==4B.

Today) $#ilding a competiti'e ad'antage is $ased on how well a $ank ser'es its c#stomer "RM is

differentiation strategy that $anks can #se to acD#ire) grow and retain profita$le c#stomer

relationships) with the goal of creating a s#staina$le competiti'e ad'antage. n the following

part) another important competiti'e ad'antage strategy framework will $e disc#ssed and

comparisons will $e done with portersC 7eneric Strategies framework

;.? V$u Di(-i5i& M"!/

Porter>s %7eneric Strategies 8ramework& alone is not eno#gh to #nderstand the positioning

strategies of $anks in terms of "RM. Porter>s foc#s on ind#stry str#ct#re is a powerf#l means of

analy3ing competiti'e ad'antage in itself) $#t it has $een critici3ed for $eing too static in an

increasingly fast changing world. 8or a deeper #nderstanding) Michael Treacy and 8red

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Wieserma>s %Kal#e ,isciplines Model& has $een e+amined. This model is another important

strategic framework for market positioning which has the following 0 positioning strategiesI

Operational e+cellence

Prod#ct leadership

"#stomer intimacy

"RM can $e strategically em$edded partic#larly in two of the three 'al#e disciplines B

Operational E+cellence) and /B "#stomer ntimacy. With c#stomer intimacy) Wieserma ;;:B

shows how companies can profit from esta$lishing closer) more co?operati'e c#stomer

relationships. With operational e+cellence) firms aim to ha'e economical) efficient processes

whose res#lting deli'ered 'al#es to c#stomers are low prices and ser'ice con'enience.

Wieserma G Treacy ;;4B. 8irms applying c#stomer intimacy foc#s on knowing the c#stomer

and $#ilding close relationships with these c#stomers. "RM is often solely related to the

c#stomer intimacy 'al#e discipline. f "RM is em$edded in a c#stomer intimacy strategy) then

"RM will $e relationship?oriented. 8irms em$edding "RM in an operational e+cellence strategy

foc#s on cost? red#ctions and raising the D#ality of the c#stomer interaction process thro#gh

process impro'ements.

;.: C+$&,( "* Im5m&ti&, CRM/

The challenges faced $y many of the $anks whilst implementing "RM can $e s#mmari3ed as the

followingsI

7etting management sponsorship

#ality of c#stomer data

Alignment iss#e Alignment of people and processesB

5ack of skilled people

,etermining the right time for c#stomer needs

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*sing c#stomer data more intelligently

ncorporating c#stomer data and c#stomer preferences to the c#stomer data $ase

*sing right technologies

Real time data cross all c#stomer channels

6a'ing 04=? degree 'iew of c#stomers Single 'iew of c#stomersB

The retail $anking market is fiercely competiti'e and sat#rated Pili /==4B. The competition is

forcing $anks to find new ways of satisfying c#stomers and D#ick adaptation to changes. The

competition among the $anks itself is also 'ery major domestic players on the arena.


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any other good $ank which is implementing "RM as $enchmarks) which ha'e more fle+i$le and

inno'ati'e c#lt#res and where organi3ational str#ct#re is flatter. The charge of mindsets m#st

start from the management le'el and contin#e to the all the le'el of the organi3ation with the

s#pport of management. At this point a paradigm shift is needed which can $e s#mmari3ed as

followsI

A c#stomer centric and relationship?oriented c#lt#re m#st $e adopted instead of

operation centric and sales oriented c#lt#re.

ManagementCs attit#de to employee m#st $e proacti'e instead of $eing

reacti'eL instead of employee compliance) contin#o#s impro'ement m#st $e

s#pported.

Training c#lt#re m#st $e impro'ed to organi3ation learning philosophy where

self?learning is s#pported.

Employee m#st $e empowered in order to carry on their responsi$ilities faster

and efficiently.

Teamwork and coaching m#st $e de'eloped) instead of indi'id#ation.

Meas#rement $asis m#st $e o$jecti'e) fair and transparent. Employee m#st $e

moti'ated $y rewards and s#pporti'e attit#de of their managers. 5eaders play an important role

in this change process. So that $anks can in'est in e+perienced professionals with leadership

skill) which can infl#ence the organi3ation to enco#rage and con'ince for change.


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;. O%,$&i3$ti"&$ L$%&i&, P+i"("5+)/

Organi3ational learning is more than pro'iding training sessions to employees when it is neededL

it is a philosophy.


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so it m#st promote its s#perior capa$ilities $etter a $#ild a strong $rand. They can #se more

ad'ertisements on TK) newspapers) and maga3ines) nternet etc.


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n order to retain c#stomers and increase e+isting c#stomersC share of wallet)


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C+$5t%>

CRM i& T6"

N$ti"&$i3! $&! T6"

P%i'$t S-t"% B$&=

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>.9 I&!i$& b$&=i&, (-t"%/

The Reser'e s

go'ernment owns $anks dominated market. Their performance has $een mi+ed) with a few $eing

consistently profita$le. Se'eral p#$lic sector $anks are $eing restr#ct#red and in some the

go'ernment either already has or will red#ce its ownership.


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management were esta$lished in the co#ntry namely) P#nja$ national $ank ltd) $ank of ndia ltd.

"anada $ank ltd) ndian $ank ltd) the $ank of


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BANKING INSTITUTIONS

"ommercial Regional R#ral "o?operati'e


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S#$sidiary

"ompanies "entral(,istrict

"o?Op


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Primary 5and

S#$sidiary "ompanies ,e'elopment


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The co?operati'e $anking sector has $een de'eloped in the co#ntry to the s#pplement the 'illage

money lender. The co operati'e $anking sector in ndia is di'ided into : componentsI

. State co?operati'e $ank

/. "entral co?operati'e $ank

0. Primary agric#lt#re credit societies

1. 5and de'elopment $anks

2. *r$an co?operati'e $anks

4. Primary Agric#lt#re de'elopment $anks

9. Primary land de'elopment $anks

:. State land de'elopment $anks

• D'"5m&t b$&=(/

. nd#strial finance corporation 8"B

/. nd#strial de'elopment $ank of ndia ,


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>.1 Cu(t"m% R$ti"&(+i5 M$%=ti&,/

Traditional marketing theory and practice ha'e foc#sed on attracting new c#stomers rather than

retaining e+isting ones. Today) howe'er) altho#gh attracting new c#stomers remains an important

marketing task) the emphasis has shifted toward Relationship Marketing @ creating) maintaining)

and enhancing strong relationships with c#stomers and other stake holders.


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ATTRACTING RETAINING AND GROWING CUSTOMERS/

The key to $#ilding lasting relationship is the creation of s#perior c#stomer 'al#e and

satisfaction. Satisfied c#stomers are more likely to $e loyal c#stomers) and loyal c#stomers are

more like to gi'e the company a larger share of their $#siness. We now look more closely at the

concepts of c#stomer 'al#e and satisfaction) loyalty and retention) and share of c#stomer.

>.; R$ti"&(+i5 Bui!i&, B"-= Cu(t"m% S$ti(*$-ti"&

Attracting and retaining c#stomers can $e a diffic#lt task. Today>s c#stomers face a 'ast array of

prod#ct and $rand choices) prices and s#ppliers. The company m#st answer a key D#estionI how

do c#stomers make their choices The answer is that c#stomers choose the marketing offer that

they $elie'e will gi'e them the most 'al#e. They are satisfied with and contin#e to $#y offers

that consistently meet or e+ceed their 'al#e e+pectations. 5et>s look more closely at c#stomer

'al#e and satisfaction.

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u$it)/

The totality of feat#res and characteristics of a prod#ct or ser'ice that $ear on its a$ility to

satisfy stated or implied needs is called D#ality.

V$u !i'%) &t6"%=/

The network made #p of the company) s#pplier) distri$#tors) and #ltimately c#stomers who

%partner& with each other to impro'e the performance of the entire system.

C"(t/

Today>s most s#ccessf#l companies are raising e+pectations @ and deli'ering performance to

match. These companies em$race total c#stomer satisfaction. 8or e+ample) 6onda climes

%one reason o#r c#stomers are so satisfied is that we aren>t&. "igna 'ows %==J satisfaction.

==J of the Time.& S#ch companies track their c#stomers> e+pectations) percei'ed company

performance) and c#stomers satisfaction relati'e to competitors) it does not attempt to

ma+imi3e c#stomer satisfaction. A company can always increase c#stomer satisfaction $y

lowering its price or increasing its ser'ices) $#t this may res#lt in lower profits. Th#s) the

p#rpose of marketing is to generate c#stomer 'al#e profita$ly. This reD#ires a 'ery delicate

$alance.

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>.> HDFC B$&= P%"*i/

6,8"


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treas#ry. The retail $anking segment ser'es retail c#stomers thro#gh a $ranch network and other

deli'ery channels. This segment raises deposits from c#stomers and makes loans and pro'ides

other ser'ices with the help of specialist prod#ct gro#ps to s#ch c#stomers. The wholesale

$anking segment pro'ides loans) non?f#nd facilities and transaction ser'ices to corporate) p#$lic

sector #nits) go'ernment $odies) financial instit#tions and medi#m?scale enterprises. The

treas#ry segment incl#des net interest earnings on in'estments portfolio of the


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90/ !os. They also e+panded their presence in the Cmerchant acD#iringC $#siness. ,#ring the year

/==0?=1) the


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network from )9/2 $ranches in 99; cities to );:4 $ranches in ;;4 ndian cities. The .;.1 Hi(t"%) HDFC B$&=/

;;1 ? The


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? The


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? 6,8"


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? The $ank will also pro'ide phone?$anking facility in


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/===? 6,8"


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with an online payment gateway sol#tion to ena$le them to ha'e a sec#re eshopping e+perience.

? 6,8"


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46

? The M#m$ai?$ased 7eojit Sec#rities 5td. has tied #p with 6,8"


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47

? 6,8"


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48

? 5Ttrade.com has entered into a strategic tie?#p with 6,8"


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49

? 6,8"


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50

? 6,8"


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51

? 6,8"


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52

?6,8"


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53

/==; ? 6,8"


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54

? ndiaCs pri'ate $anking major )6,8"


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55

c#stomer e+perience co#ld pro'ide a s#stained edge m#ch needed to maintain its growth rate in

spite of increasing $alance sheet si3e.

The $ank fo#nd an answer in a two prong strategy which incl#ded raising the $ar for its internal

processes altho#gh the $ank were already o#tperforming the ind#stryB to preser'e profita$ility

and ens#ring consistency of information and actions across channels to create an #nmatched

c#stomer e+perience ? gaining tr#st and loyalty to s#stain the growth trajectory.

6owe'er) despite the clarity in strategy) e+ec#tion was a challenge. S#ch a radical strategy was

first of its kind and faced tremendo#s risk d#e to inherent comple+ity and technological

challenges) considering the transformation had to happen across a geographically distri$#ted

team) witho#t hampering $#siness and at a pace that kept it rele'ant. Also it needed to

streamlining deli'eries keeping in mind the readiness and the gro#nd realities.

Another challenge was le'eraging the data wareho#se to $#ild intelligence on c#stomers and

deploying this information at 'ario#s to#ch points to help ma+imi3e c#stomer life cycle 'al#e.

Technologically) scala$ility of the system gi'en the large data 'ol#mes) 22)===U #ser $ase)

workflow comple+ities) integration) synchroni3ation and incremental #pdates was no less

challenging either.

Aware of gro#nd realities) the $ank foc#sed on finding a sol#tion with an architect#re capa$le of

managing o'er 22)=== #sers ser'ing o'er /2 million c#stomers. t also needed an implementation

partner with e+tensi'e $anking domain knowledge and capa$ility to e+ec#te the 'ision.

The $ank selected "RM ne+tCs sol#tion which promised to f#lfill the $anks needs. Some of the

key capa$ilities offered $y the sol#tion incl#dedI

55


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56

>.?. ICICI B$&= P%"*i

""


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57

/)=02 $ranches and a$o#t 2)2: ATMs in ndia and presence in : co#ntries. They ha'e

s#$sidiaries in the *nited Ningdom) R#ssia and "anada) $ranches in *nited States) Singapore)


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58

$ranches G e+tension co#nter from 922 !os to )/4/ !os) incl#ding the addition of a$o#t /==

$ranches thro#gh the merger of Sangli


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7o'ernment of ndia and representati'es of ndian ind#stry. The principal o$jecti'e was to create

a de'elopment financial instit#tion for pro'iding medi#m?term and long?term project financing

to ndian $#sinesses.

n the ;;=s) "" transformed its $#siness from a de'elopment financial instit#tion offering

only project finance to a di'ersified financial ser'ices gro#p offering a wide 'ariety of prod#cts

and ser'ices) $oth directly and thro#gh a n#m$er of s#$sidiaries and affiliates like ""


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60


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>.:.9P%"*iSt$t B$&= "* I&!i$


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62

segments) namely Treas#ry) "orporate( Wholesale


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c#stomer loyalty and home loans. S


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64

f#nd. ,#ring the year) State


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was la#nched on a pilot $asis in M#m$ai and "hennai in 8e$r#ary /=. ,#ring the first D#arter

of the financial year /=?/) the 7o'ernment of ndia iss#ed the CAcD#isition of State


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66

;99 ? ,#ring the year $ank introd#ced the Perennial Pension Plan Scheme #nder which if the

depositors make a reg#lar monthly payment of a fi+ed amo#nt for a period of :1 to 0/ months)

they $ecome eligi$le from the :4th and 01th months respecti'ely for getting a monthly pension

of predetermined amo#nt fore'er.

n order to meet all the de'elopmental needs of the 'illages incl#ding their social and c#lt#ral

needs) the $ank la#nched an integrated r#ral de'elopement programme) aimed at not only

co'ering the credit needs of agric#lt#re and agric#lt#ral acti'ities and 'illage ind#stries) $#t also

ho#sing and social acti'ities.

;:= ?


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67

iiB E'ery person who on the 0=th F#ne) ;22) was registered as a holder of shares in the

mperial


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68

;:; ? S


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preferential $asis to ndian 8inancial nstit#tions and ndian M#t#al 8#nds.


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70

;;9 ? Shares iss#ed to employees of the $ank $earing distincti'e n#m$ers 14)/4)==)== to

19)14)==)=== will not $e good deli'ery. The rights iss#e was for / crore eD#ity shares at a

premi#m of Rs.2= aggregating Rs.9/= crore in addition to a f#rther iss#e of ./ crore eD#ity

shares of Rs.= at a premi#m of Rs.2= aggregating Rs.9/ crore for State


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71

The State


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72

According to an agreement entered into with the de'elopment $ank) State


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73

The State


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74

The


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75

State


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76

?E N Thak#r resigns from ,irectorship of S


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77

as domestic operations and 8ore+ operations. They also offer r#ral $anking ser'ices) which

incl#de deposits) priority sector ad'ances) remittance) collection ser'ices) pension and lockers.

They also offer fee $ased ser'ices s#ch as cash management and remittance ser'ices. The


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78

project in affiliation with KSA. n the year /==1) The So#th 7#jarat 5ocal Area


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79

pro'ince.YAlso) the online 6ome 5oan application facility was made a'aila$le with tracking of

stat#s of the application from F#ly /=) /==:. ,#ring the year /==;?=) the


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80

s#$sidiariesB. A $ranch was opened at lford) Esse+ *NB and fi'e Electronic


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81

;4;? The


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82

? The $ank had esta$lished a new department to act as c#stodian of local shares iss#ed $y ndian

companies who came o#t with E#ro ss#es 7,Rs(A,RsB to raise f#nds from a$road. With this

in 'iew) the $ank entered into an agreement with


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83

?


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84

?


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85

?


86/118

86

?


87/118

87

?


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88

/==0?,ecreases interest on domestic term deposits $y /2?92 $asis points across different

mat#rities effecti'e Fan#ary =)/==0

?7ets go't. appro'al to raise Rs 4== crore thro#gh $onds

?*n'eils S#per Sa'ings Acco#nt) sa'ings acco#nt with 'al#e added propositions

?Appoints


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89

has appointed ,r. A N Nhandelwal) E+ec#ti'e ,irector E,B of


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90

?


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91

/==;?


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92

C+$5t%?

ANALJSIS

AND

92


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93

INTERPRETATION

OF DATA

P%("&$ !t$i(I

.9. AGE GROUP

A7E 7RO*P !O. O8RESPO,E!TS

PER"E!TA7E

2 @ /1 02 1J

/2 @ 01 19 ;J

02 @ 11 2/ /J

12 @ 21 2: /0J

22U 2: /0J

93


94/118

94

15 - 24 25 - 34 35 - 44 45 - 54 55+

0%

5%

10%

15%

20%

25%

14%

19% 21%

23% 23%

PERCENTAGE

PERCENTAGE

I&t%5%t$ti"&/

Majority of the respondents are coming #nder the age gro#p of a$o'e 22 and 12 to 21. /J and

;J respondents are coming #nder the age gro#p of 02 to 11 and /2 to 01 respecti'ely. Kery few

respondents are coming #nder the age gro#p of 2 to /1.

.1. OCCUPATION/

O""*PATO! !O. O8

RESPO,E!T

S

PER"E!TA7

E


95/118

95

Business Agricu!ure "er#ice "!u$en!

0%

5%

10%

15%

20%

25%

30%

35%40%

45%42%

12%

36%

10%

PERCENTAGE

PERCENTAGE

I&t%5%t$ti"&/

Majority of the respondents are doing $#siness and ser'ice i.e. 1/J and 04J respecti'ely. Kery

few respondents are doing agric#lt#re and st#dy i.e. /J and =J respecti'ely.

.; A&&u$ F$mi) I&-"m

8AM5

!"OME

!O. O8

RESPO,E!T

S

PER"E!TA7

E

$elow /===== : 0/J

/=====?/;;;;; :; 04J

0=====?0;;;;; 00 0J

1=====?1;;;;; 19 ;J

95


96/118

96

1 2 3 4

0%

5%

10%

15%

20%

25%

30%

35%

40%

32%

36%

13%

19%

PERCENTAGE

PERCENTAGE

I&t%5%t$ti"&/

0/J and 04J respondents are coming #nder the income gro#p of $elow /) ==)=== and /) ==)===

to /) ;;);;;. ;J respondents are coming #nder the income gro#p of 1) ==)=== to 1) ;;) ;;;.

Other respondents are coming #nder the income gro#p of 0)==)=== to 0);;);;;.

.>. I& 6+i-+ "* t+ *""6i&, b$&=( !" )"u +$' $& $--"u&t


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97

CC &'(C "B B)B )T&ER

0

0*05

0*1

0*15

0*2

0*25

0*3

0 0 0 0 0

18%

10%

26%

21%

25%

Bn,

PERCENTAGE

I&t%5%t$ti"&/

:J and =J respondents ha'e $ank acco#nt with "" and 6,8". /4J

and /J respondents ha'e $ank acco#nt with S


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98

6P stock

acco#nt

0 /J

"#ing Curren! Recuring .n Acc*'e/.si! cc.un!&P s!.c, cc.un!

0%

5%

10%

15%

20%

25%

30%

35%

32%

16% 16%13%

10% 12%

TYPE OF ACCOUNT

I&t%5%t$ti"&/

Majority of the respondents ha'e sa'ing acco#nt i.e. 0/J. 4J and 4J respondents ha'e

c#rrent and rec#rring acco#nt respecti'ely. Kery few respondents ha'e loan acco#nt) deposit

acco#nt and 6P stock acco#nt with the $ank i.e. 0J)=J and /J respecti'ely.

.: R(5"&( %$ti&, "* b$&=i&, (t$**.

RESPO!SE

RATE

!O. O8

RESPO,E!TS

PER"E!TA7

E

E+cellent 0= /J

Kery 7ood := 0/J

7ood :2 01J

Poor 02 1J

98


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99

Kery Poor /= :J

Eceen! er G..$ G..$ P..r er P..r

0%5%

10%

15%

20%

25%

30%

35%

40%

12%

32% 34%

14%

8%

RESPONSE RATING

I&t%5%t$ti"&/

Majority of the respondents feel good when they meet to the $ank>s staff i.e.01J) 0/J

respondents feel 'ery good when they meet to the $ank>s staff. Kery few people think that the

$eha'io#r of the $ank staff is poor and 'ery poor i.e. 1J and :J respecti'ely.

< H"6 m$&) tim )"u 'i(it b$&=

KST ! A


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100

0102030405060708090

80 90

30

50

FREQUENCY OF VISIT IN A BANK

"es

I&t%5%t$ti"&

Majority of the they 'isit in a $ank o#t of /2= i.e.;= and 2= are respondents twice in week and

once in D#arter and o#t of /2= are in only 0= and := are 'isit in $ank once in week and once in

month.

. T" 6+"m !" )"u mt 6+& )"u 'i(it t+ b$&=

W6OM O*

MEET

!O. O8

RESPO,E!T

S

PER"E!TA7

E

"ashier 9= /:J

Manager 4= /1J"RM Manager 29 /0J

Other Staff 40 /2J

100


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101

28%

24%23%

25%Csier

nger

CR nger

)!er "!

I&t%5%t$ti"&/

Majority of the people meet "RM manager when they came at $ank i.e./0J) /1J and /:J

respondents are meet manager and cashier respecti'ely. Kery few respondents meet other staff.

.@ A% )"u ($ti(*i! 6it+ t+ %(5"&( 5%"'i!! b) t+ (t$** mmb%(

SATS8 WT6

STA88

MEM


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102

N)* )( RE"P)'ENT"

74

76

78

80

82

84

86

88

90

80

90

I&t%5%t$ti"&/

O#t of the /2= respondents :: respondents are satisfied with the $ank and 4/ respondents are

dissatisfied. This shows that $ank staff mem$ers are 'ery co?operati'e and responsi'e.

98 D" )"u +$' $&) b$&= "$&

B$&= "$& N". "* %(5"&!&tes 29

!o ;0

102


103/118

103

es N.

0

20

40

60

80

100

120

140160

157

93

No. of Respondent havn! "an# $oan

N.* . Res/.n$en!

I&t%5%t$ti"&

Majority of the respondents ha'ing $ank loan i.e. 29 respondents. There are only ;0

respondents who does not ha'ing $ank loan. This shows that majority of the respondent are

taking loan from $ank.

99 W+$t =i&! "* "t+% (%'i-( 5%"'i!! b) b$&=

OTHER SERVICES NO.OF RESPONDENT

5oans 09ATM ;=

"redit cards 0

!et $anking =

103


104/118

104

37

190

13 10

Othe% Se%v&es p%ovded "' Ban#

.ns

AT

Cre$i! Cr$s

Ne! Bn,ing

I&t%5%t$ti"&/

Majority of the respondents #se ATM ser'ices pro'ided $y the $ank i.e ;= respondents. Only 09

respondents take loan. Kery few respondents #se credit card and net $anking i.e. 0 and =

respondents respecti'ely.

91 H"6 !" )"u =&"6 $b"ut t+ (%'i-(

SERVICES NO.OF RESPONDENTAd'ertisement /

,irect selling agent :2

8riends G Relati'es /0

Other So#rces 0=

104


105/118

105

0

20

40

60

80

100

120112

85

23 30

No. of Respondent

N.* . Res/.n$en!

I&t%5%t$ti"&/

Majority of the respondents are come to know a$o#t the ser'ices $y ad'ertisement i.e. /

respondents. :2 respondents are come to know a$o#t the ser'ices $y direct selling agent. Kery

few respondents are come to know a$o#t the ser'ices $y friends(relati'es and other so#rces i.e./0 and 0= respondets respecti'ely

.9; A% )"u ($ti(*i! 6it+ t+ (%'i-( 5%"'i!! b) t+ b$&=

SATS8 WT6

SERK"ES

!O. O8

RESPO,E!T

S

PER"E!TA7

E

6ighly satisfied 2; /1JSatisfied /0 1;J

"anCt say 19 ;J

*nsatisfied 2 4J

6ighly

#nsatisfied

=4 /J

105


106/118

106

59

123

4715 6

NO. OF RESPO(ENTS

I&t%5%t$ti"&/

Majority of the respondents are satisfied with the ser'ices pro'ided $y $ank i.e. 1;J. /1J

respondents are highly satisfied. ;J respondents are not a$le to say anything a$o#t the $ank

ser'ices. Kery few respondents are dissatisfied and highly dissatisfied with the ser'ices pro'ided

$y $ank i.e. 4J and /J respecti'ely.

.9> ATM (%'i- i( $(i) $'$i$b i& )"u% $%$

ATM SERK"E

AKA5A


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107

N)* )( RE"P)'ENT" PERCENTAGE

0

50

100

150

200

250

es

N.

22700%

91%

2300%

9%

es N.

I&t%5%t$ti"&/

Majority of the respondents ha'e easy access of the ATM>s i.e. //9 respondents. Only /0

respondents are not a$le to find ATM>s easily. ATM is now 'ery important and it m#st $e easily

a'aila$le.

.9? B$&= (t$** ,i' )"u u(*u $!'i- "& )"u% i&'(tm&t "% "$& !-i(i"&

*SE8*5

A,K"ES

!O. O8

RESPO,E!T

S

PER"E!TA7

E

es ;0 99J

!o 29 /0J

107


108/118

108


0

20

40

60

80

100

120

140

160

180

200

19300%

77%

5700%

23%

es N.

I&t%5%t$ti"&/

Majority of the respondents feel that $ank>s staff gi'e them good ad'ice a$o#t an in'estment

and loan related decisions. Kery few people are not agree with them i.e. ;2 and 22

respondents respecti'ely.

.9: B$&= %mi&! $b"ut &6 (-+m


109/118

109


0

50

100

150

200

250

20500%

82%

4500%

18%

es N.

I&t%5%t$ti"&I

Majority of the respondents are feel that $anks are aware a$o#t the reminding new schemes

while other are not agree with them i.e. /=2 and 12 respecti'ely. People sometime not aware

a$o#t the new schemes. t is 'ery important to remind them a$o#t this.

.9< I( )"u% b$&= %(5"&!i&, t+ -u(t"m% u%) 5%"5%)

RESPO!,!7

"*STOMER

!O. O8

RESPO,E!T

S

PER"E!TA7

E

es :2 91J

!o 42 /4J

109


110/118

110


0

20

40

60

80

100

120

140

160

180

20018500%

74%

6500%

26%

es N.

I&t%5%t$ti"&/

O#t of the /2= respondents :2 respondents are feel that $ank>s staff is gi'e respond properly.

Other 42 respondents are not agree with them. "#stomer ha'e so many D#eries and it is 'ery

important to gi'e them proper response.

.9 IS )"u% b$&= +$'i&, CRM

"RM !O. O8RESPO,E!T

S

PER"E!TA7E

es //2 ;=J

!o /2 =J

110


111/118

111

100%

0%

Yes

N)* )( RE"P)'ENT"

PERCENTAGE

I&t%5%t$ti"&/

Majority of the respondents fo#nd "RM in the $anks i.e. //2 respondents. Kery few respondents

not fo#nd "RM in the $ank.

111


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112

C+$5t%:

C"&-u(i"&

$&! R-"mm&!$ti"&

C"&-u(i"& $&! R-"mm&!$ti"&

Relationship marketing has ne'er $een gi'en importance in co?operati'e sector $anks in ndia.

With the li$erali3ation in ;; on what the competition started increasing in p#$lic sector $anks

and pri'ate sector $anks) the co?operati'e $anks started to pay attention to the relationship

marketing. The inno'ati'e technologies) $etter #nderstanding of c#stomers) $etter #nderstanding

of c#stomer perceptions) can gi'e an idea of keeping good relations with the c#stomers. ts

marketing people sho#ld $e thro#gh with knowledge of the prod#ct and their feat#res) which will

lead to attract more and more n#m$er of in'estors. The n#m$er of ATM centers sho#ld $e

112


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113

increased so that it wo#ld $e stand as assets for them at the time when they reD#ire the attention

of the in'estors. To make foc#s on the r#ral side $eca#se there is lot of potential in this part

where m#ch of concentration is not made rather then ha'ing a f#ll flagged $ranch $ank has to

de'elop its mo$ile $ranch like that of the other go'ernment $anks so as to e+pand its area

towards 'illages and towns. t foc#ses only on the areas) which are flo#rished with or where

there is a$#ndant of money) here they are lacking $ehind $eca#se per the e+perience now a days

in r#ral areas also there is lot of potential for this type of $ank.

BIBLIOGRAPHJ

REFERENCE BOOKS

• %Research Methodology for


114/118

114

MAGAZINE

•


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115

!ame I ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ.

7ender I Male 8emale

Age I ZZZZZZZZZZZZZZZZ

Ed#cation I ZZZZZZZZZZZZZZZZZ

Occ#pation I ZZZZZZZZZZZZZZZZZ

Place I ZZZZZZZZZZZZZZZZZ

. Ann#al 8amily ncome

a.B


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116

a.BOnce in week $.B Twice in week

c.BOnce in a month d.BOnce in D#arter

4.To whom do yo# meet when yo# 'isit the $ank

aB"ashier $B.Manager

c.B"RM manager dB.other staff

9. Are yo# satisfied with the response pro'ided $y the staff mem$ersaBes $.B!o

:. ,o yo# ha'e any $ank loan

a.Bes $.B!o

;.What kind of other ser'ices pro'ided $y the $ank

a.B5oan $.BATM

c.B"redit card d.B!et $anking

=.6pw do yo# know a$o#t the ser'ices

a.BAd'ertisement $.Bdirect selling agent

c.Bfriends G relati'es d.BOther so#rces

. Are yo# satisfied with the ser'ices pro'ided $y the $ank

aB6ighly satisfied

$BSatisfied

116


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117

cB"an>t say

dB*nsatisfied

eB6ighly #nsatisfied

/. ATM ser'ice is easily a'aila$le in yo#r area

a.Bes $.B !o

0.


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118

Than# 'o)

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