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A
Project report
On
“Survey Regarding Standard Chartered Bank”
C.T INSTITUTE OF MANAGEMENT AND I.T
{Affiliated to Punjab Technical University, Jalandhar}
Maqsudan Campus
SUBMITTED BY: SUBMITTED TO:
Farooque Azam Mrs. Rajwinder Kaur
BBA 4th Sem (Project Guide)
81407320006
1
TABLE OF CONTENTS
S. No.
PARTICULARS
1.
2.
3.
RESEARCH METHODOLOGY
Objectives of the Study Research Methodology Limitations of the Study
INTRODUCTION TO BANKING SYSTEM
Introduction to banking Definitions: Introduction to banking system Privatization of Indian banking
PROFILE OF STANDARD CHARTERED BANK
Standard Chartered Bank
2
4.
5.
6.
7.
8.
9.
History of Standard Chartered Bank Standard chartered in India
DATA ANALYSIS / INTERPRETATION Data Analysis and Its Interpretation
FINDINGS OF THE STUDY
Findings of the Study Suggestions
CONCLUSION Conclusion
BIBLIOGRAPHY
ANNEXURE
QUESTIONAIRE
3
RESEARCH METHODOLOGY
OBJECTIVES OF THE STUDY
Bank’s to know about the different deposit schemes provided by Standard
Chartered Bank.
To know the type of facilities provided by Standard Chartered Bank in
deposits accounts.
To know the satisfaction level of the customers regarding deposit accounts of
Standard Chartered Bank.
To analyze the problems faced by customers while opening an account in
Standard Chartered Bank.
To get information regarding different conditions to be fulfilled for opening a
deposit account in Standard Chartered Bank.
To know the customer satisfaction with bank’s overall performance. to know
the staff attitude towards customers.
RESEARCH METHODOLOGY
4
Research means a search for knowledge or gain some new knowledge and
methodology can properly refer to the theoretical analysis of the methods
appropriate to a field of study or to the body of methods and principles
particular to a branch of knowledge. A Research methodology has a
specified framework for collecting the data in an effective manner.
Research methodology means a "defining a problem, defining the research
objectives, developing the research plan, collecting the information,
analyzing the information and presentation of findings." Such framework is
called” Research Design". The research process that was followed by me
consisting following steps;
A) Defining the problem
B) Developing the research plan
C) Collection of Data
D) Analysis and Interpretation of Data
E) Presentation of findings
A) Defining the problem and research objectives
My research problem is to study the product and services provided by sales
outbound team of standard chartered bank in Jalandhar
B) Developing the Research Plan
The development of research plan has following steps:
1. Data source
2. Research approach
3. Type of Research Design
5
4. Research instrument
5. Sampling plan
i) Sample unit
ii) Sample size
iii) Contact methods
6. Questionnaire Design
1.Data Source: The researcher can get two types of data:
a) Primary Data
b) Secondary Data
c) Data Recording
a) Primary Data
Primary data is a data which did not exist earlier and is being collected by the
researcher first time for its specific objectives. In other words, direct personal
interview is conducted with the help of questionnaire.
b) Secondary data
Any data which have been collected earlier for some purpose are the secondary
data. Indirect collection of data from sources containing past or recent past
information like bank's brochures, annual publication, books etc.
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Secondary sources used are:
Text books
Internet sites
Newspaper articles
Broachers
2. Research Approach
Survey is best suited for descriptive and analytical research. Survey are
undertaken to learn about people's knowledge, beliefs, preferences, satisfaction
and so on and to measure these magnitudes in the general public.
Therefore, I have done this survey for Descriptive and analytical research process.
Descriptive research includes surveys and fact finding enquiries of different kinds.
The main purpose is description of the state of affairs is noted down and analytical
research used to analyze the material and facts.
3. Research instrument
Questionnaire:
7
Questionnaire (also known as self-administered survey) is a type of statistical
survey handed out in paper form usually to a specific demographic to gather
information in order to provider better service or goods. A document that contains
a set of questions that has been specially formulated as a means of collecting
information and surveying opinions, etc on a specified subject or theme, etc .A
questionnaire was constructed for my survey.
4. Sampling plan:
Sample is a group of few items which represents the population or universe from
where it has been taken. The sampling plan calls for three decisions;
a) Sample unit
b) Sample size
c) Contact methods
a) Sample unit – who is to be surveyed?
8
The target population must be defined that has to be sampled. It is necessary so
as to develop a sample frame so that everyone in the target population has an
equal chance of being sampled. I have completed my survey in Standard
Chartered Bank, Jalandhar.
b) Sample size - how many people have to be surveyed?
Generally, large sample size gives more reliable results than small samples. The
sample consisted of 20 account holders of Standard Chartered Bank, Jalandhar.
c) Contact methods
Once the sampling plan has been determined the Questionnaire is how the subject
should be contracted i.e. by telephone interview, personal interview, observation,
mail etc. here, in my survey, I have contacted the respondents through personal
interviews.
5. Questionnaire Design:
a) There are 12 questions in my questionnaire and I asked all these questions from
20 account holders of Standard Chartered Bank, Jalandhar.
C) Collecting the information
9
After this, I have collected the information from the respondents with the help of
Questionnaire.
D) Data Analysis and Interpretation
The next step is to extract the pertinent findings from the collected data have
tabulated the collected data and developed frequency distributions.
Thus, the whole data was grouped aspect wise and was presented in tabular form.
Thus, frequencies and percentages were prepared to render impact of study.
E) Presentations of findings
This was the last step of survey.
LIMITATIONS OF THE STUDY:
Due to constraints of time and resources, the study is likely to suffer from certain
limitations. Some of these are mentioned here under so that the findings of the
study may be understood in a proper perspective.
The limitations of the study are:
Some of the respondents of the survey were unwilling to share information.
10
The research was carried out on in-house customers. i.e. within the branch in the
small city of Punjab viz. Jalandhar so the response may vary by including the
respondents from other branches in other areas as well.
The research was carried out in a short period of 6 weeks as a part of summer
training. Therefore the sample size and other parameters were selected
accordingly so as to finish the work within the given time frame.
The information given by the respondents might be biased because some of them
might not be interested to give correct information.
INTRODUCTION TO BANKING SYSTEM
The world of banking has assumed a new dimension at dawn of the
21stcentury with the advent of tech banking, thereby lending the industry
11
stamp of universality. In general, banking ay be classified as retail and
corporate banking. Retail banking, which is designed to meet the
requirements of individual customers and encourage their saving, includes
payment of utility bills, consumer loans, credit cards, Checking account and
the like. Corporate banking, on the other hand, caters to the needs of
corporate customers like bills discounting, opening letters of credit,
managing cash, etc.Metamorphic changes took place in the Indian financial
system during the eighties and nineties consequent began shaping up its
command earmarked ambitious plan for economic growth. Consequently, a
sea change in money and capital markets took place. Applications of
marketing concept in the banking sector were introduced to enhance the
customer satisfaction. The policy of privatization of banking services aims at
encouraging the competition in banking sector and introduction of financial
services. Consequently, services such as Demat, Internet Banking, Portfolio
Management, Venture Capital, etc., came into existence to cater to the
needs of public. An important agenda for every banker today is greater
operational efficiency and customer satisfaction. The new watchword for the
bank is ambitious: customer delight.
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The introduction to the marketing concept to banking sector can be traced
back to American Banking Association Conference of 1958. Bank marketing
can be defined as the part of management activity, which seems to direct
the flow of banking services profitability to the customers. The marketing
concept basically requires that there should be thorough understanding of
customers need and to learn about market it operates in. Further the market
is segmented so as to understand the requirements of the customer at a
profit to the bank.
DEFINITIONS:
According to Whitehead,
“A Bank is defined as an institution which collects surplus funds from the
public, safeguards them, and makes them available to the true owner when
required and also lends sums be their true owners to those who are indeed of
funds and can provide security.”
According to Kent says, A Bank is “an organization whose principal
operations are concerned with the accumulation of the temporarily idle
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money of the general public for the purpose of advances to others for
expenditures”.
According to Indian Banking Companies Act:
“Banking company is one which transacts the business of banking, which
means the accepting for the purpose of lending or investment of deposits of
money from the public repayable on demand or otherwise and withdrawal by
Cheque, draft, order or otherwise.”
The term bank in the modern times refers to an institution having
the following features:
1. It deals with money; it accepts deposits and advances loans.
2. It also deals with credit; it has the ability to expand its liabilities as to its
reserves.
3. It is commercial institution that creates demand deposits which serve as a
medium of exchange and, as a result, the banks manage the payment system
of the country.
So banks are like:
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“Oxygen for economy which is necessary for the generation and
management of the blood i.e. the finance of the economy and
circulates through the network of the bank i.e. the network of
branch”.
INTRODUCTION TO BANKING
The ancient banking system of India constituted of indigenous bankers.
They have been carrying on their age old banking operations in different
parts of the country under different names.
Then came commercial banking in 1770 with the establishment of the
first joint stock bank, named the Bank of Hindustan, by an English Agency
in Calcutta, but this bank failed in 1832. In fact, real beginning of modern
commercial banking in the country was made with the establishment of
the
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Bank of Bengal 1806, Later on, the Bank of Bombay and Bank of Madras
were also set up in 1840 and 1843 respectively. All these banks were
called Presidency Banks. In 1881, the first purely Indian Bank i.e. Ouch
Commercial Bank came into being. It was followed by the setting up of
Punjab National Bank in 1894.
The commercial banking system is divided into 2 categories.
Public Sector Banks
Private Sector Banks
STANDARD CHARTERED BANK
Standard Chartered – leading the way in Asia, Africa and the
Middle East Standard Chartered PLC is listed on both the London Stock
Exchange and the Hong Kong Stock Exchange and is consistently ranked
in the top 25 among FTSE-100 companies by market capitalization.
16
Standard Chartered has a history of over 150 years in banking and
operates in many of the world's fastest-growing markets with an
extensive global network of over 1,400 branches (including subsidiaries,
associates and joint ventures) in over 50 countries in the Asia Pacific
Region, South Asia, the Middle East, Africa, the United Kingdom and the
Americas.
As one of the world's most international banks, Standard Chartered
employs almost 60,000 people, representing over 100 nationalities,
worldwide. This diversity lies at the heart of the Bank's values and
supports the Bank's growth as the world increasingly becomes one
market.
With strong organic growth supported by strategic alliances and
acquisitions and driven by its strengths in the balance and diversity of its
business, products, geography and people, Standard Chartered is well
positioned in the emerging trade corridors of Asia, Africa and the Middle
East.
17
Standard Chartered derives over 90 per cent of profits from Asia, Africa
and the Middle East. Serving both Consumer and Wholesale Banking
customers worldwide, the Bank combines deep local knowledge with
global capability to offer a wide range of innovative products and services
as well as award winning solutions.
Trusted across its network for its standard of governance and corporate
responsibility, Standard Chartered takes a long term view of the
consequences of its actions to ensure that the Bank builds a sustainable
business through social inclusion, environmental protection and good
governance.
Standard Chartered is also committed to all its stakeholders by living its
values in its approach towards managing its people, exceeding
expectations of its customers, making a difference in communities and
working with regulators.
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History of Standard Chartered
Bank
The Standard Chartered Group was formed in 1969 through a merger of
two banks: The Standard Bank of British South Africa founded in 1863,
and the Chartered Bank of India, Australia and China, founded in 1853.
Both companies were keen to capitalize on the huge expansion of trade
and to earn the handsome profits to be made from financing the
movement of Europe to the East and to Africa.
The Chartered Bank:
Founded by James Wilson following the grant of a Royal Charter by
Queen Victoria in 1853
Chartered opened its first branches in Mumbai (Bombay), Calcutta and
Shanghai in 1858, followed by Hong Kong and Singapore in 1859
Traditional business was in cotton from Mumbai (Bombay), indigo
and tea from Calcutta, rice in Burma, sugar from Java, tobacco from
Sumatra, hemp in Manila and silk from Yokohama.
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Played a major role in the development of trade with the East which
Followed the opening of the Suez Canal in 1869, and the extension of
the telegraph to China in 1871
n 1957 Chartered Bank bought the Eastern Bank together with the
Ionian Bank’s Cyprus Branches. This established a presence in the gulf
The Standard Bank:
Founded in the Cape Province of South Africa in 1862 by John
Paterson. Commenced business in Port Elizabeth, South Africa, in
January 1863Was prominent in financing the development of the
diamond fields of Kimberley from 1867 and later extended its
network further north to the new town of Annenberg when Gold was
discovered there in 1885
Expanded in Southern, Central and Eastern Africa and by 1953 had
600 offices
In 1965, it merged with the Bank of West Africa expanding its
operations into Cameroon, Gambia, Ghana, Nigeria and Sierra Leone
In 1969, the decision was made by Chartered and by Standard to
undergo a friendly merger. All was going well until 1986, when Lloyds
20
Bank of the United Kingdom made a hostile takeover bid for the Group.
When the bid was defeated, Standard Chartered entered a period of
change. Provisions had to be made against third world debt exposure and
loans to corporations and entrepreneurs who could not meet their
commitments. Standard Chartered began a series of divestments notably
in the United States and South Africa, and entered into a number of asset
sales. From the early 90s, Standard Chartered has focused on developing
its strong franchises in Asia, the Middle East and Africa using its
operations in the United Kingdom and North America to provide
customers with a bridge between these markets. Secondly, it would focus
on consumer, corporate and institutional banking, and on the provision n
of treasury services – areas in which the Group had particular strength
and expertise. In the new millennium we acquired Grind lays Bank from
the ANZ Group and the Chase Consumer Banking operations in Hong
Kong in 2000.
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STANDARD CHARTERED IN INDIA
The Chartered Bank opened its first overseas branch in India, at Kolkata, on
12 April 1858. Eight years later the Kolkata agent described the Bank's
credit locally as splendid and its business as flourishing, particularly the
substantial turnover in rice bills with the leading Arab firms. When The
Chartered Bank first established itself in India, Kolkata was the most
important commercial city, and was the centre of the jute and indigo trades.
With the growth of the cotton trade and the opening of the Suez Canal in
1869, Bombay took over from Kolkata as India's main trade centre. Today
the Bank's branches and sub-branches in India are directed and
administered from Mumbai (Bombay) with Kolkata remaining an important
trading and banking centre.
Standard Chartered Bank in India is the largest international banking Group
in India. The bank having a combined customer base of 2.4 million in retail
banking and over 1200 corporate customers.
The key businesses of Standard Chartered Bank in India include consumer banking - primarily
credit cards, mortgages, personal loans and wealth management - and - wholesale banking,
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where the Bank specializes in the provision of cash management, trade, finance, treasury and
custody services.
Standard Chartered India was the first to issue first global credit card in India,
the first to issue Photo card, the first Picture Card and was the first credit card
some other product innovations of Standard Chartered Bank in India include
the 'Sapnay' credit card, the international debit card that provides free access
to over 1500 Visa ATM's, a first in the banking industry, Mileage, an overdraft
facility against the security of a car and Smart Credit, a personal line of credit
for salaried customers.
Products and services offered by Standard Chartered Bank
India
Personal Banking:
Personal Banking Plans
Accounts
Debit Cards
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Prepaid Cards
Credit Cards
Loans
Investment Services
Insurance
Online Services
Special Offers
NRI Accounts
Commercial Banking
SME Banking
Term Loan
Express Trade
Trade Services & Working Capital
Business Installment Loan
International Trade Account
Loan/Overdraft Against Property
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FOREX
“Your business is growing we provide international support”At
Standard Chartered, we know that doing business in today's economic
climate is challenging - and that situations and business needs can
change overnight.
DATA ANALYSIS AND ITS INTERPRETATION
1. Are you aware of deposit accounts provided by StandardChartered Bank ?Response %age of respondentsYes 100%
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No 00%
%age of respondents
Yes
No
Interpretation :Standard Chartered is one of the major overseas bank in India. From theabove graph it is clear that all the 100% respondents are aware of StandardChartered Bank.
2. How did you get the know about Standard Chartered Bank ?
Particulars %age of RespondentsWord of Mouth 10%
Advertisement /Media 70%26
Executive /Telecaller from the bank 05%Friends/Relatives 15%
%age of Respondents
10%
70%
5%15%
Word of Mouth
Advertisement /Media
Executive /Telecallerfrom the bank
Friends/Relatives
Interpretation :From the above graph it is depicted that majority of the respondents havecome to know about Standard Chartered Bank through advertisements/media sources i.e. 70%. 15% respondents have come to know aboutStandard Chartered Bank through friends /relatives, 10% through word ofmouth and remaining 5% respondents through executive /tellecaller from thebank.
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3. Which type of deposit account do you have in Standard CharteredBank ?
Response %age of RespondentsSaving Account 80%Current Account 15%Others 05%
%age of Respondents
80%
15%
5%
Saving Account
Current Account
Others
Interpretation :From the above graph it clear that majority (80%)of the respondents havesaving account with Standard Chartered Bank while 15% respondents havecurrent account because they belong to business community. Only 5%
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respondents have other deposits account in Standard Chartered Bank.4. Are you aware of following facilities provided by StandardChartered Bank in your account ?Facilities No. of RespondentsFree Internet Banking 21%Free cheque book 40%Free Phone Banking 16%Free Mobile Banking 13%Free Door Step Facility 10%
0
0.05
0.1
0.15
0.2
0.25
0.3
0.35
0.4
1 2 3 4 5 6
No. of Respondents
Facilities
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Interpretation :Majority of the respondents are provided free cheque book facilityfollowed by other services like mobile banking, internet banking, freestatements/cheque book etc.
5. Do you face any problem or you are not properly treated inStandard Chartered Bank ?Response %age of RespondentsYes 5%No 95%Can’t Say 0%5%95%0%Yes No Can’t Say
30
Interpretation :From the above graph it is clear that majority of the respondents are notfacing any problem and they are well treated in Standard Chartered Bank.Only 5% respondents said that they are facing some problems.
6. Are you satisfied with your deposit account in StandardChartered Bank. ?Response %age of RespondentsYes 90%No 10%90%
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10%Yes NoINTERPRETATION :From the above pie chart it is clear that majority (90%) of the respondentsare satisfied with their present deposit account in Standard Chartered Bank.90% of the respondents have different deposit account such as Savings,Current, Term Deposits etc. While 10% of the respondents are not satisfiedwith their deposit account in Standard Chartered Bank. They are willing toshift to another bank.
7. Why you have opened account with Standard Chartered Bank ?Responses %age of RespondentsNetwork 25%Quick Services 50%Brand Name 15%
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One stop bank 10%25%50%15%10%Network Quick Services Brand Name One stop bankINTERPRETATION:The table shows 25% customers have opened their deposit account inStandard Chartered Bank due to good network of branches. 50% customershave opened their account due to quality of services provided by the Bank.Only 15% customers have opened their account due to brand name. Other10% customer’s response to one stop bank reason. Standard Chartered Bankis a one stop bank because it provides all modern banking facilities andproducts to customers under one roof.
FINDINGS AND SUGGESTIONS
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FINDINGS OF THE STUDY_ Standard Chartered is one of the major overseas bank in India. Fromthe above study it is clear that all the 100% respondents are aware ofStandard Chartered Bank._ Majority of the respondents have come to know about StandardChartered Bank through advertisements /media sources._ From the above study it clear that majority of the respondents havesaving account with Standard Chartered Bank_ Majority of the respondents are provided free cheque book facilityfollowed by other services like mobile banking, internet banking, freestatements/cheque book etc._ From the above study it is clear that majority of the respondents arenot facing any problem and they are well treated in StandardChartered Bank._ Majority of the respondents are satisfied with their present depositaccount in Standard Chartered Bank. 90% of the respondents have
34
different deposit account such as Savings, Current, Term Deposits etc.While 10% of the respondents are not satisfied with their depositaccount in Standard Chartered Bank. They are willing to shift toanother bank._ The study shows people have opened their deposit account inStandard Chartered Bank due to good network of branches, brandname, modern banking facilities._ The above study shows majority of customers spent only 5 to 10minutes to perform only transaction in the Bank_ From the study it is clear that 85% customers would like torecommend the name of Standard Chartered Bank to other persons._ Majority of the respondents are satisfied with knowledge of bankemployees regarding various deposit accounts of Standard CharteredBank._ From the above study it is clear that majority of the respondents are
35
satisfied with the overall performance of Standard Chartered Bank.SUGGESTIONS_ Standard Chartered Bank should increase the number of branches andATMs._ The bank should bring out new products and schemes at time-to-timeso that more people can be attracted._ Even some gifts and prizes may be offered to the customers for theirretention._ The charges for non-maintenance of balance are the higher, so theyshould be reduced._ Even the charges for account opening are high, so they should also bereduced._ More exposure is required through various resources selecting theright type of media. E.g advertisements, giving broachers.
CONCLUSION
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CONCLUSIONThe face of banking is changing rapidly. The competition and challenges inIndian banking sector is increasing day by day. I made this project on thedeposits provided by Standard Chartered Bank. From the above study Iconcluded that the deposits of Standard Chartered Bank are increasing whichshows a positive sign in favour of bank. The deposits account holders ofStandard Chartered Bank are satisfied with the bank. The bank is alsoproviding customer friendly facilities to the account holders of StandardChartered.Standard Chartered Bank is one of the oldest foreign banks in India.Standard Chartered Bank has to take necessary initiatives in order toincrease customer base. The bank should increase number of branches andinstall ATMs at the prime locations of Jalandhar. The bank can alsointroduce gifts and prizes from time to time. The accounting opening
37
charges for current and saving account should be reduced, so more and morecustomers can join Standard Chartered Bank.From the above study, I can conclude that Standard Chartered Bank hasmaintained excellent position in the market and the customers are satisfiedwith the overall performance of Standard Chartered Bank. So, we can saythat Standard Chartered Bank is well known for understanding the customerneeds in the modern era of banking.
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BIBLIOGRAPHY
BIBLIOGRAPHYBooks :_ P. N. Varshney, Indian Financial System And Commercial Banking,published by Sultan Chand & Sons, Edition-1999_ Dr. R. R. Paul : Banking & International Trade, Kalyani Publishers,Edition -1996Websites :_ www.standardchartered.com_ www.google.com
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ANNEXURE
QUESTIONNAIRE
1. Are you aware of deposit accounts provided by StandardChartered Bank ?Yes _ No _2. How did you get the know about Standard Chartered Bank ?Word of Mouth _ Advertisement /Media _Bank Executive /Telecaller _ Friends/Relatives _3. Which type of deposit account do you have in Standard CharteredBank ?Saving Account _ Current Account _ Others _4. Are you aware of following facilities provided by StandardChartered Bank in your account ?Free Internet Banking _ Free cheque book _Free Phone Banking _ Free Mobile Banking _Free Door Step Facility _
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5. Do you face any problem or you are not properly treated inStandard Chartered Bank ?Yes _ No _ Can’t Say _6. Are you satisfied with your deposit account in StandardChartered Bank. ?Yes _ No _7. Why you have opened account with Standard Chartered Bank ?Network _ Quick Services _Brand Name _ One stop bank _8. How much time you spent for any transaction in StandardChartered Bank ?5 to 10 minutes _ 15 to 20 minutes _More than that _9. Would you like to recommend the name of Standard CharteredBank to your known person ?Yes _ No _ Can’t Say _10. How do you rate the attitude of staff of Standard Chartered Banktowards customers ?Highly Satisfied _ Satisfied _Dissatisfied _ Highly Dissatisfied _
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