![TABLE OF CONTENTS
(Font Style - Times New Roman and Font Size - 14)
Particulars Page No.
❖ Bonafide Certificate vi)
❖ Certificate of Originality vii)
❖ Acknowledgement viii)
❖ Project Report Form with the details of Student & Project Guide ix)
❖ Student and Project Guide Interaction Report x)
❖ Table of Contents xi)
Chapter Number 1 - Introduction 1-35
1.1 DEFINITION 9
1.2 STRUCTURE OF INDIAN BANKING SYSTEM 9
Chapter Number 2 - Review Literature
2.1 COMPANY PROFILE ICICI BANK
• HISTORY
• SUBSIDIARIES OF AXIS BANK
• BOARD DIRECTORS
• BUSINESS OBJECTIVE
• AWARDS - 2022
• AXIS BANK - PRODUCT PORTFOLIO
10
Chapter Number 3 - Research Methodology
22
3.1 SCOPE OF THE STUDY 22
3.2 OBJECTIVE OF THE STUDY 22
Chapter Number 4 -Data Analysis and Interpretation 24
Chapter Number 5 - Findings of the Research Study 34
Chapter Number 6 - Conclusion, Summary & Recommendations [OR] Suggestions
34
References / Bibliography 35
Appendix/Annexure](https://image.slidesharecdn.com/document-1-for-ppt-230327032024-bc9ec303/85/document-1-for-ppt-ppt-1-320.jpg)
![3. COMPANY PROFILE
AXIS Bank Limited is an Indian multinational banking and financial services company with its registered office in
Ahemdabad, Gujarat and corporate office in Mumbai, Maharashtra. It offers a wide range of banking products and financial
services for corporate and retail customers through a variety of delivery channels and specialised subsidiaries in the areas of
investment banking, life, non-life insurance, venture capital and asset management.
AXIS Bank is one of the Big Four banks of India, The Bank has a large footprint of 4,758 domestic branches (including
extension counters) with 10,990 ATMs & 5,972 cash recyclers spread across the country as of 31st March 2022. The Bank
has 6 Axis Virtual Centers with over 1,500 Virtual Relationship Managers as of 31st March 2022. The Overseas operations of
the Bank are spread over eight international offices with branches in Singapore, Dubai (at DIFC), and Gift City-IBU;
representative offices in Dhaka, Dubai, Abu Dhabi, Sharjah and an overseas subsidiary in London, UK. The international
offices focus on Corporate Lending, Trade Finance, Syndication, Investment Banking, Liability Businesses, and Private
Banking/Wealth Management offerings.
History
AXIS bank was founded on 3 December 1993 as UTI Bank, opening its registered office in Ahmedabad and a corporate
office in Mumbai.[10] The bank was promoted jointly by the Administrator of the Unit Trust of India (UTI),[11] Life
Insurance Corporation of India (LIC), General Insurance Corporation, National Insurance Company, The New India
Assurance Company, The Oriental Insurance Corporation and United India Insurance Company. The first branch was
inaugurated on 2 April 1994 in Ahmedabad by Manmohan Singh, then finance minister of India.
In 2001 UTI Bank agreed to merge with Global Trust Bank, but the Reserve Bank of India (RBI) withheld approval and the
merger did not take place. In 2004, the RBI put Global Trust under moratorium and supervised its merger with Oriental Bank
of Commerce. The following year, UTI bank was listed on the London Stock Exchange.[13] In the year 2006, UTI Bank
opened its first overseas branch in Singapore. The same year it opened an office in Shanghai, China. In 2007, it opened a
branch in the Dubai International Financial Centre and branches in Hong Kong.
On 30 July 2007, UTI Bank changed its name to Axis Bank.
In 2009, Shikha Sharma was appointed as the MD and CEO of Axis Bank.
In 2013, Axis Bank's subsidiary, Axis Bank UK commenced banking operations.
On 1 January 2019, Amitabh Chaudhry took over as MD and CEO.
In year 2021, the Bank had reduced its stake in Yes Bank from 2.39 per cent to 1.96 per cent.](https://image.slidesharecdn.com/document-1-for-ppt-230327032024-bc9ec303/85/document-1-for-ppt-ppt-3-320.jpg)
document-1-for-ppt.ppt
- 1. TABLE OF CONTENTS (Font Style - Times New Roman and Font Size - 14) Particulars Page No. ❖ Bonafide Certificate vi) ❖ Certificate of Originality vii) ❖ Acknowledgement viii) ❖ Project Report Form with the details of Student & Project Guide ix) ❖ Student and Project Guide Interaction Report x) ❖ Table of Contents xi) Chapter Number 1 - Introduction 1-35 1.1 DEFINITION 9 1.2 STRUCTURE OF INDIAN BANKING SYSTEM 9 Chapter Number 2 - Review Literature 2.1 COMPANY PROFILE ICICI BANK • HISTORY • SUBSIDIARIES OF AXIS BANK • BOARD DIRECTORS • BUSINESS OBJECTIVE • AWARDS - 2022 • AXIS BANK - PRODUCT PORTFOLIO 10 Chapter Number 3 - Research Methodology 22 3.1 SCOPE OF THE STUDY 22 3.2 OBJECTIVE OF THE STUDY 22 Chapter Number 4 -Data Analysis and Interpretation 24 Chapter Number 5 - Findings of the Research Study 34 Chapter Number 6 - Conclusion, Summary & Recommendations [OR] Suggestions 34 References / Bibliography 35 Appendix/Annexure
- 2. 1. Definition of Bank “An Organization, usually a corporation, chartered by a state or federal government, which does most or all of the following: receive demand deposits and time deposits, honors instruments drawn on them, and pays interest on them; discounts notes, makes loans, and invests in securities; collects Checks, drafts, and notes; certifies depositor’s checks; and issues drafts and cashier’s Checks.” “A bank is financial institution licensed to receive deposits and make loans. Banks may also provide financial services such as wealth management, currency exchange, and safe deposit box. There are several different kinds of bank including retail banks, commercial or corporate bank, and investment banks. In most country, banks are regulated by the national government or central bank”. 2. Structure of the Indian Banking system
- 3. 3. COMPANY PROFILE AXIS Bank Limited is an Indian multinational banking and financial services company with its registered office in Ahemdabad, Gujarat and corporate office in Mumbai, Maharashtra. It offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialised subsidiaries in the areas of investment banking, life, non-life insurance, venture capital and asset management. AXIS Bank is one of the Big Four banks of India, The Bank has a large footprint of 4,758 domestic branches (including extension counters) with 10,990 ATMs & 5,972 cash recyclers spread across the country as of 31st March 2022. The Bank has 6 Axis Virtual Centers with over 1,500 Virtual Relationship Managers as of 31st March 2022. The Overseas operations of the Bank are spread over eight international offices with branches in Singapore, Dubai (at DIFC), and Gift City-IBU; representative offices in Dhaka, Dubai, Abu Dhabi, Sharjah and an overseas subsidiary in London, UK. The international offices focus on Corporate Lending, Trade Finance, Syndication, Investment Banking, Liability Businesses, and Private Banking/Wealth Management offerings. History AXIS bank was founded on 3 December 1993 as UTI Bank, opening its registered office in Ahmedabad and a corporate office in Mumbai.[10] The bank was promoted jointly by the Administrator of the Unit Trust of India (UTI),[11] Life Insurance Corporation of India (LIC), General Insurance Corporation, National Insurance Company, The New India Assurance Company, The Oriental Insurance Corporation and United India Insurance Company. The first branch was inaugurated on 2 April 1994 in Ahmedabad by Manmohan Singh, then finance minister of India. In 2001 UTI Bank agreed to merge with Global Trust Bank, but the Reserve Bank of India (RBI) withheld approval and the merger did not take place. In 2004, the RBI put Global Trust under moratorium and supervised its merger with Oriental Bank of Commerce. The following year, UTI bank was listed on the London Stock Exchange.[13] In the year 2006, UTI Bank opened its first overseas branch in Singapore. The same year it opened an office in Shanghai, China. In 2007, it opened a branch in the Dubai International Financial Centre and branches in Hong Kong. On 30 July 2007, UTI Bank changed its name to Axis Bank. In 2009, Shikha Sharma was appointed as the MD and CEO of Axis Bank. In 2013, Axis Bank's subsidiary, Axis Bank UK commenced banking operations. On 1 January 2019, Amitabh Chaudhry took over as MD and CEO. In year 2021, the Bank had reduced its stake in Yes Bank from 2.39 per cent to 1.96 per cent.
- 4. Subsidiaries of AXIS Bank The Bank has 9 subsidiaries namely, • Axis Capital Ltd. (ACL), • Axis Securities Ltd. (ASL), • Axis Trustee Services Ltd. (ATSL), • Axis Asset Management Company Ltd. (AAMC), • Axis Mutual Fund Trustee Ltd. (AMFT), • Axis Finance Ltd. (AFL), • A.TREDS Ltd. (ATL), • Axis Bank UK Ltd. (ABUK) • Freecharge Payment Technologies Private Ltd. (Freecharge). Step-down subsidiary - • Axis Capital USA LLC (subsidiary of Axis Capital Ltd.) Committee of Directors Name of Members Category S. Vishvanathan Chairman Amitabh Chaudhry Member Ketaki Bhagwati Member Audit Committee of the Board Name of Members Category Girish Paranjpe Chairman T. C. Suseel Kumar Member Prof. S. Mahendra Dev Member Risk Management Committee Name of Members Category Ketaki Bhagwati Chairperson Amitabh Chaudhry Member Girish Paranjpe Member Gopalaraman Padmanabhan Member Stakeholders Relationship Committee Name of Members Category S. Vishvanathan Chairman Vasantha Govindan Member Rajiv Anand Member
- 5. Nomination and Remuneration Committee Name of Members Category Meena Ganesh Chairperson Rakesh Makhija Member Girish Paranjpe Member Special Committee of the Board of Directors for Monitoring of Large Value Frauds Name of Members Category S. Vishvanathan Chairman Amitabh Chaudhry Member Rakesh Makhija Member T.C. Suseel Kumar Member Prof. S. Mahendra Dev Member Customer Service Committee Name of Members Category G. Padmanabhan Chairman Amitabh Chaudhry Member T.C Suseel Kumar Member Vasantha Govindan Member IT Strategy Committee Name of Members Category Ashish Kotecha Chairman Girish Paranjpe Member Amitabh Chaudhry Member Meena Ganesh Member Gopalaraman Padmanabhan Member S. Vishvanathan Member Corporate Social Responsibility Committee Name of Members Category Rakesh Makhija Chairman Rajiv Anand Member Meena Ganesh Member Review Committee Name of Members Category Amitabh Chaudhry Chairman S. Vishvanathan Member Ketaki Bhagwati Member
- 6. Acquisitions, Divestments and Mergers Committee Name of Members Category Rakesh Makhija Chairman Ketaki Bhagwati Member Amitabh Chaudhry Member Meena Ganesh Member Ashish Kotecha Member Committee of Whole-Time Directors Name of Members Category Amitabh Chaudhry Chairman Rajiv Anand Member Environmental, Social and Governance Committee Name of Members Category Prof. S. Mahendra Dev Chairman Ketaki Bhagwati Member Ashish Kotecha Member Amitabh Chaudhry Member Business Objectives: Vision and Values: To be the preferred financial solutions provider excelling in customer delivery through insight, empowered employees and smart use of technology Core Values: • Customer Centricity • Ethics • Transparency • Teamwork • Ownership Awards & Recognition - 2022: • Axis Bank wins Finnoviti Award for Project Maximus. • Axis Bank wins BT-KPMG Best Bank Award for Best Innovation in Banks in India. • Axis Bank wins Asia’s Best in Infrastructure Modernization at the IDC Financial Insights Innovation Award. • Axis Bank wins BT-KPMG Best Bank Award for Best Talent and Workforce in Banks in India. • Axis Bank wins IBS intelligence Global FinTech Innovation Award for Best CRM System Implementation. • Axis Bank wins IFR Asia’s Asian Bank of the Year and India Bond House award.
- 7. Product Portfolio: Loan Product Deposit Product Investment & Insurance • Auto loan • Loan against security • Loan against property • Personal loan • 2- wheeler loan • Commercial vehicles finance • Home loans • Retail business banking • Tractor loan • Working capital finance • Construction • Equipment finance • Health care finance • Education loan • Gold loan • Savings A/C • Current A/C • Fixed Deposits • Demat A/C • Safe Deposit Lockers • Mutual Funds • Bonds • Knowledge Centre • Insurance • General And Health Insurance • Equity And Derivative s • Mudra Gold Bar Cards Payment Services Access To Bank • Credit Card • Debit Card • Prepaid Card • Net Safe • Merchant • Prepaid Refill • Bill Pay • Visa Bill Pay • InstaPay • Direct Pay • VisaMone y Transfers • E-Monies Electronic Funds Transfer • Online Payment Of Direct Tax • Net Banking • One View • InstaAlert Mobile Banking • ATM • Phone Banking • Email Statements • Branch Network Forex services • Product And Services • Trade Services • Forex Service Branch Locater • RBI Guidelines
- 8. AXIS Bank offers wide variety of Deposit Products to suit your requirements. Coupled with convenience of networked branches/ ATMs and facility of E-channels like Internet and Mobile Banking, AXIS Bank brings banking at your doorstep. Select any of our deposit products and provide your details online and our representative will contact you for Account Opening. SAVING ACCOUNTS: AXIS Bank offers you a power packed Savings Account with a host of convenient features and banking channels to transact through. So now you can bank at your convenience, without the stress of waiting in queues. SENIOR CITIZEN SERVICES: We understand that as you reach the age to retire, you do have certain concerns ... whether your hard earned money is safe and secure ... whether our investments give you the kind of returns that you need. That's why we have an ideal Banking Service for those who are 60 years and above. The Senior Citizen Services from AXIS Bank has several advantages that are tailored to bring more convenience and enjoyment in your life. YOUNG STARS: It's really important to help children learn the value of finances and money management at an early age. Banking is a serious business, but we make banking a pleasure and at the same time children learn how to manage their personal finances. FIXED DEPOSITS: Safety, Flexibility, Liquidity and Returns!!!! A combination of unbeatable features of the Fixed Deposit from AXIS Bank. RECURRING DEPOSITS: When expenses are high, you may not have adequate funds to make big investments. But simply going ahead without saving for the future is not an option for you. Through AXIS Bank Recurring Deposit you can invest small amounts of money every month that ends up with a large saving on maturity. So you enjoy twin advantages- affordability and higher earnings. HOME LOAN: The No. 1 Home Loans Provider in the country, AXIS Bank Home Loans offers some unbeatable benefits to its customers - Doorstep Service, Simplified Documentation and Guidance throughout the Process. It's
- 9. PERSONAL LOANS: If you’re looking for a personal loan that’s easy to get, your search ends here. AXIS Bank Personal Loans are easy to get and absolutely hassle free. With minimum documentation you can now secure a loan from or an amount up to Rs. 15 lakhs CAR LOAN: The Axis Bank Car Loan aims to ensures that you drive around the city in your own vehicle! Avail a car loan, or opt for a pre-approved car loan, and get the best interest rates. Axis Bank’s New Car Loan offers car loans from Rs. 1 Lakh upto 100% on-road price along with benefits. COMMERCIAL VEHICLE LOANS: Range of services on existing loans & extended products like funding of new vehicles, refinance on used vehicles, balance transfer on high cost loans, top up on existing loans, Extend product, working capital loans & other banking products. TWO WHEELER LOANS: Avail attractive schemes at competitive interest rates for Two Wheeler Loans, Finance facility up to 100% of the On Road Cost of the vehicle, repayable in convenient repayment options and comfortable tenors from 12 months to 60 months. Ride home on your Dream Two Wheeler with our hassle free finance. CREDIT CARDS: AXIS Bank Credit Cards give you the facility of cash, convenience and a range of benefits, anywhere in the world. These benefits range from life time free cards, Insurance benefits, global emergency assistance service, discounts, utility payments, travel discounts and much more. DEBIT CARDS: The AXIS Bank Debit Card is a revolutionary form of cash that allows customers to access their bank account around the clock, around the world. The AXIS Bank Debit Card can be used for shopping at more than 100,000 merchants in India and worldwide. TRANSIT CARD: Axis Bank Transit Cards are India’s first cards created for convenient travelling and shopping by enabling hassle-free payments. Transit Cards, the all-in-one Smart Cards, lets you avail additional offers and delights while enabling one-tap payments.
- 10. PRE PAID CARDS: Axis Bank offers a range of pre-paid cards by which one can gift, reward and motivate either your loved ones or your employees in an easy and convenient way. One can choose between Meal Cards, Gift Cards, Rewards Cards and Smart Pay Card. There are a number of benefits of pre-paid cards which include being able to load any amount between Rs. 500 and 10,000 in the Meal Card, being able to make purchases instantly with Gift Card! The Rewards Card offers flexibility to customize ones programs and the Smart Pay Card offers daily POS transaction limit of Rs. 50,000. INVESTMENTS: At AXIS Bank, we care about all your needs. Along with Deposit products and Loan offerings, AXIS Bank assists you to manage your finances by providing various investment options ranging from AXIS Bank Tax Saving Bonds to Equity Investments through Initial Public Offers and Investment in Pure Gold. AXIS Bank facilitates following investment products: • AXIS Bank Tax Saving Bonds Government of India Bonds • Investment in Mutual Funds • Initial Public Offers by Corporate • Investment in "Sovereing Gold Bonds" • Foreign Exchange Services • Public Provident Fund AXIS BANK Sovereign Gold Bond (SGB) Scheme: Invest In gold is an easy and safe manner with Sovereign Gold Bonds. Offered and regulated by the RBI, Sovereign Gold Bonds allow you to make convenient investments in gold with a multitude of benefits! The features and benefits of the Sovereign Gold Bonds include: customised and varied investment size, fixed interest rate in addition to the linked physical gold price, exemption from capital gain tax. Minimum investment starts from one gram and in multiples of one gram thereof, up to a maximum limit 4kg per fiscal for individual/HUF and 20kg for trusts and similar entities notified by the government. FOREX SERVICES: AXIS Bank's Foreign Exchange Services will help you organize your foreign exchange in the most hassle free manner. Whether its Foreign Currency, Travelers Cheques or Travel Card, AXIS Bank Foreign Exchange Services is a one-stop solution to your foreign exchange requirement.
- 11. AXIS Bank Digital Banking Services (Digital Channels of AXIS Bank) INTERNET BANKING: Internet Banking is a convenient way to do banking from the comfort of your home or office. Avoid the queues or delays and try our simple and secure Internet Banking facility for a seamless online banking experience. AXIS MOBILE APP Axis Mobile is a safe and secure mobile banking application from Axis Bank, with 100+ features and services satisfying more than just banking needs. It is a convenient way to access account, transfer funds, pay bills, link other bank accounts using UPI and more such exciting features on the go. It is among the world's best mobile banking applications. The new industry-first features on AXIS Mobile include: Money Coach: A software robotics based automated personal finance and investment advisory platform which helps customers plan their future investments in a seamless manner. The service is offered free of cost and enables goal based investment advisory. After the introduction of this facility, the Bank has witnessed manifold increase in customers investing through AXIS Mobile. ‘Discover’, one view dashboard with spend patterns: Another first of its kind feature, it displays transactions across all savings account, credit cards and Pockets wallet held with the Bank in one place. It offers a host of services such as a consolidated statement of transactions done through the year, a graphical representation of spending patterns, suggestions for future transactions based on past transaction records as well as an option to track deliverables and service requests. QR Basis Payment: This feature allows users to initiate transactions such as bill payments, fund transfer or scan a QR code by simply long pressing the AXIS Mobile icon. In app merchant payments: With this feature, customers can make instant payments for day-to-day transactions such as ordering food, hotel bookings, travel etc. from within AXIS Mobile, directly from their bank account. Instant digital credit: It enables customers to buy small ticket items immediately in a completely digital and paperless manner. Using the facility, customers to shop online, pay bills and pay to any merchant UPI ID at physical stores instantly. Securing card transactions: AXIS Bank is the first bank in the country to enable users to pre-set limits on their credit and debit cards for domestic as well as international transactions.
- 12. Message to check balance: Customers can now check their account balance without logging in to the app. Customers can check balance through watsapp or message to glance through their account balances and credit card outstanding amount. Taxi payments: No need to worry about cash anymore, just link your AXIS Bank Unified Payments Interface (UPI) ID and pay Uber/ Ola fares instantly. Rail tickets: Use AXIS Mobile app to book rail tickets. Flight tickets: You can count on AXIS Mobile app for easy flight bookings. Hotel bookings: Choose and book hotels smartly with AXIS Mobile app. Bus ticket bookings: Do stress-free bus ticket bookings with AXIS Mobile app. Local deals: Use AXIS Mobile app and get the best local deals. Bill Pay reminders: Don’t miss out on paying any of your bills. Just set your bill payment reminders through this service and feel relaxed. Demat Account: Now manage your Demat portfolio from your phone. Check status: See the status of all your deliverables from AXIS Bank in a single view. Internet Banking: Branch banking made simpler, thanks to the Internet Banking feature. Now fill up all your paper work without using the paper via your AXIS Mobile app and enjoy Priority Banking. Expressions Debit Card: Now personalise your Debit Card as per your choice with numerous options. Tax payment: Pay tax in advance in a few simple steps. Buy General Insurance: Buying insurance was never so easy. Buy travel and motor insurance in a few simple steps. Buy Life Insurance: Experience a quicker and easier way to get insured through AXIS Mobile app now. Exclusive life cover option for AXIS Mobile app users with no medicals and minimal form filling in easy steps. Digital Trade Solutions We make the Bank come to you with our cutting edge solutions on Digital Trade. Axis Bank offers a wide variety of services ranging from Imports, Exports and Domestic Trade transaction capabilities through our Digital Trade platforms. We also offer paperless solutions for select importer and exporter clients to take full advantage of the digital capabilities and also technology based solutions for your trade requirements.
- 13. • TF Connect Digital platform to transact majority of Import-Export transactions online. • Online Inward Remittance (OIRM) Digital offering allowing you to settle Inward remittances online. • Paperless Imports End to end digital journey for Import bill payments. • Paperless Exports End to end digital journey for Export bill regularisation. • e-Softex Platform to manage the entire software export journey digitally • e-Advice Opt for alerts and notifications of your trade transactions TFConnect Digital platform to transact majority of Import-Export transactions online Overview_ Through our TF connect facility, transact at the convenience of your office or home. Apply for trade transactions online and get real time updates. TFConnect enables you to initiate, amend and authorize and Trade Finance transactions in a digital environment, allowing you to manage your transactions in a convenient manner. Optimal for the on-the-go businessperson. Features and Benefits_ 1. 24x7 online access across the globe: Trade finance transactions can be routed anytime and anywhere. 2. Templated transactions: Simplified transactional experience and reduced data entry through templates. 3. Bulk upload / approval of transactions: Ease in routing transactions in high volumes 4. Online Copy of advises: Ready reference of debit advises and SWIFT copies online 5. Limit data availability: Information of limits available / utilized / sanctioned across various credit lines 6. Role based dashboards: Overview on pending action items for different user categories 7. Quicker turnaround time and also authorization on the move with Mobile App Solutions for Importers: • Import Letter of Credit Guaranteed payment in a specified currency to the Exporter • Import Bill Collections Payment mode for International Trade through financial/commercial documents • Advance Import Payment
- 14. Solutions for Exporters: • Export Bills on Collection Solution to simplify collection of export proceeds • Export Pre-Shipment Finance Solution meeting your pre-shipment finance requirements • Export Post-Shipment Finance Purchase/Discounting of Export bills • Export LC Backed Bill Negotiation Negotiation of LC backed bills and availment of finance before the due date • Export LC Advising Authenticate and forward LC to the beneficiary • Export LC Confirmation Add confirmation to LCs issued by foreign Banks and give a definite undertaking of payment of LC • Gold Card Scheme Export credit at competitive terms and conditions for Small and Medium sector Exporters
- 15. 4. Research methodology The Electronic banking, it is also called as online, cyber and virtual banking, It facilitates the customers using this platform in means of electronic and internet to perform several transactions in banking like account assessing, executing transactions from anywhere at any time. With the help of E-banking the buying and selling of goods and services through the transfer of real money using the internet. The customer is the click of a mouse away from any banking transactions. E-banking system provides benefits in the form of quality services to customers, higher interest to customers, customer satisfaction, introducing E-banking products & services (e- banking, physical form of currency is shifting to cashless, digital and electronic money). E-banking provides cashless banking like Automated Teller Machine(ATM), Mobile Banking, Phone Banking, Internet Banking, Electronic Fund Transfer (EFT), Debit card & Credit card, NEFT, RTGS. SCOPE OF THE STUDY: This study is limited to the consumers within Vadodara city. The study will be able to reveal the preferences, needs, satisfaction of the customers regarding the banking services, It also help banks to know whether the existing products or services they are offering are really satisfying the customers’ needs. OBJECTIVE OF THE STUDY: 1. To study the effect of demographic variables on various factors leading to satisfaction. 2. To investigate the factors influencing the level of Satisfaction of E-banking customer. 3. To compare and analyze the Customer Satisfaction level in E-banking services of public, private sector and foreign banks.
- 16. AREA OF STUDY VADODRA REGION DATA COLLECTION METHOD SURVEY, QUESTIONNAIRE, JOURNALS, ONLINE METHOD POPULATION RESPONDENTS AVAILING BANKING SERVICES SAMPLE SIZE A SAMPLE SIZE OF 120 RESPONDENTS' SAMPLING METHOD STRATIFIED RANDOM SAMPLING DATA COLLECTION INSTRUMENT • STRUCTURED QUESTIONNAIRE FOR PRIMARY DATA • INTERNET FOR SECONDARY DATA Impact of the Internet on Banking
- 17. Micro Market analysis - Interpretations, Findings and Recommendations INTERPRETATION: 1. GENDER OF THE RESPONDENT: GENDER OF THE RESPONDENT FREQUENCY PERCENTAGE MALE 77 63.6 FEMALE 43 36.4 TOTAL 120 100 From the above representation of pie chart, it concluded that out of 120 respondents 77 were male 43 were female, which comprises of 63.6% and 36.4% respectively.
- 18. 2. AGE OF THE RESPONDENTS: AGE BRACKET OF THE RESPONDENTS FREQUENCY CUMULATIVE FREQUENCY PERCENTAGE 18-25 89 89 74.2 26-40 11 100 9.2 41-55 16 116 13.3 ABOVE 55 4 120 3.3 TOTAL 120 - 100 From the representation of the above pie chart, it concluded that, 89 respondents were from the age group 18-25, 11 were from the age group 26-40, 16 were from the age group 41-55 and rest were above 55 which comprises of 74.2% , 9.2% , 13.3% and 3.3% respectively. 100 respondents being in the age group between 18-40, it was found that they were tech-savvy and relied more on digital platforms rather than traditional mode of banking except deposits and withdrawals. 16 respondents between ages 41-55 were found neutral in preferred use of banking. 4 respondents i.e. almost to senior citizen category mostly preferred traditional banking.
- 19. 3. SALARY BRACKET OF THE RESPONDENTS: SALARY FREQUENCY CUMULATIV PERCENTAGE BRACKET OF E RESPONDENTS (in Rs.) FREQUENCY NOT EARNING YET 76 76 65.8 10000-20000 16 92 13.3 20000-30000 3 95 2.1 30000-40000 6 101 4 40000-50000 6 107 4 ABOVE 50000 13 120 10.8 TOTAL 120 - 100 Salary (per month) 120 responses # Not earning yet • 10-20k • 20-30k • 30-40k • 40-50k • >50k From the representation of pie chart shown above, it concluded that out of 120 respondents 76 were not earning yet that means they were students, 16 of them were under salary bracket of Rs.10000-20000 where majority of them were young had just started earning by doing job or a business. 15 of them were from salary bracket Rs. 20000-5000, who avail the banking services at maximum. And 13 out of 120 respondents had salary above Rs. 50000 which indicates that they might be availing premium services offered by banks that is credit card, various types of loans, fixed deposits, etc.
- 20. 4. BANK ACCOUNT OF THE RESPONDENTS These are the competitor banks of AXIS Bank in Vadodara. State Bank of India Bank of Baroda Dena Bank ICICI Bank HDFC Bank Kotak Mahindra Bank Any other Public sector bank Any other Private sector bank 40 -46 (39.3%) 50
- 21. Majority of respondents had their bank accounts in Public sector bank. This is because people rely on governments. Around 76% had 2 bank accounts, where in other bank account was found in private sector bank to avail premium bank services which facilitates better and easy services to customers. Among my respondents AXIS Bank had 13 customers which comprised of 11.1% of my total respondents. Here to increase customer base AXIS bank should apply competitive strategy. Also from the second bar graph representation we can conclude that, majority of customers avail Fixed Deposits as their ancillary product. Other most availed service was loans i.e. 32 of 120 respondents also have taken loans from the existing bank. Insurance and Mutual schemes also stands in the list where the customer keep eye on.
- 22. 5. Respondents’choice defining their future banking needs: PRODUCT NO. OF RESPONDENTS (out of 120) SAVINGS A/C 79 CURRENT A/C 19 LOAN 27 INSURANCE 25 DEMAT A/C 30 e-BANKING 1 CREDIT CARD 1 NONE 12 From the representation in the above graph, it was concluded that 79 out of 120 participants defined their future need of banking product as Savings A/c which comprises of 65.3% of total respondents’ choice. The second most preferred choice is Demat trading A/c, 30 respondents chosed demat as their banking need. Loans, insurance and Current A/cs were also some of the services in which respondents showed their interests with 27, 25 and 19 respondents respectively.
- 23. 6. Respondents’response on physically visiting a branch: From the representation in above graphs, it was concluded that, Out of 120 respondents 17 didn’t considered depositing or withdrawal of money as m major reason to visit a branch physically.37 respondents rarely visited branch for depositing or withdrawing their money. Exact 40 respondents sometime considered depositing or withdrawal of money major reason for visiting a branch. 14 respondents often considered depositing or withdrawal of mony as major reason for visiting a branch and 12 respondents always considered visiting branch for deposit or withdrawal of money was their major reason. Out of 120 respondents 18 didn’t considered query resolution as m major reason to visit a branch. 46 respondents rarely visited branch for query resolution. Exact 40 respondents sometime considered query resolution major reason for visiting a branch. 10 respondents often considered query resolution as major reason for visiting a branch and 6 respondents always considered visiting a branch for query resolution was their major reason. Out of 120 respondents 10 didn’t considered document verification as m major reason to visit a branch. 50 respondents rarely visited branch for document verification. Exact 40 respondents sometime considered document verification major reason for visiting a branch. 8 respondents often considered document verification as major reason for visiting a branch and 12 respondents always considered visiting a branch for document verification was their major reason. Out of 120 respondents 48 didn’t considered inquiry regarding products as m major reason to visit a branch. 37 respondents rarely visited branch for inquiry regarding products. Exact 22 respondents sometime considered inquiry regarding products major reason for visiting a branch. 8 respondents often considered inquiry regarding products as major reason for visiting a branch and 5 respondents always considered visiting a branch for inquiry regarding products was their major reason.
- 24. 7. Respondents’response on problem areas causing inconvenience while visiting branch: Problem areas causing inconvenience while visiting branch Protocol for handling of Waiting in long queues Bank personnel behaviour Location of bank Inefficient redressal queries mechanism From the representation in above bar graphs, it was concluded that: Out of 120 respondents 7 of them strongly dis-agreed protocol for handling of queries as the problem area causing inconvenience while visiting branch.20 of them also disagreed for the same reason. 60 were neutral. 24 and 11 of the respondents agreed and strongly agreed protocol for handling of queries as a reason of inconvenience caused while visiting branch. Out of 120 respondents 6 of them strongly dis-agreed waiting in long queues as the problem area causing inconvenience while visiting branch.17 of them also disagreed for the same reason. 40 were neutral. 37 and 20 of the respondents agreed and strongly agreed waiting in long queues as a reason of inconvenience caused while visiting branch. Out of 120 respondents 11 of them strongly dis-agreed bank personnel behavior as the problem area causing inconvenience while visiting branch.20 of them also disagreed for the same reason. 45 were neutral. 22 and 12 of the respondents agreed and strongly agreed bank personnel behaviour as a reason of inconvenience caused while visiting branch. Out of 120 respondents 18 of them strongly dis-agreed location of bank as the problem area causing inconvenience while visiting branch.32 of them also disagreed for the same reason. 42 were neutral. 24 and 4 of the respondents agreed and strongly agreed location of bank as a reason of inconvenience caused while visiting branch. Out of 120 respondents 14 of them strongly dis-agreed inefficient redressal mechanism as the problem area causing inconvenience while visiting branch.24 of them also disagreed for the same reason. 56 were neutral. 20 and 6 of the respondents agreed and strongly agreed inefficient redressal mechanism as a reason of inconvenience caused while visiting branch.
- 25. 8 Respondents’response on frequency of usafe of digital mode of banking: No. of respondent No. of times Mobile/Inter net banking used in a month No. of responde nts No. of times Mobile/Inter net banking used in a month No. of responde nts No. of times Mobile/Inter net banking used in a month No. of responde nts No. of times Mobile/Inter net banking used in a month 1 42 31 50 61 3 91 49 2 29 32 3 62 36 92 33 3 29 33 20 63 45 93 40 4 39 34 30 64 10 94 14 5 34 35 16 65 4 95 29 6 30 36 46 66 9 96 42 7 40 37 17 67 33 97 3 8 27 38 10 68 32 98 36 9 17 39 39 69 38 99 8 10 34 40 6 70 47 100 47 11 6 41 25 71 40 101 2 12 49 42 36 72 19 102 20 13 14 43 39 73 5 103 20 14 29 44 8 74 47 104 48 15 42 45 8 75 30 105 28 16 17 46 36 76 22 106 50 17 38 47 3 77 8 107 7 18 7 48 4 78 38 108 37 19 7 49 42 79 42 109 17 20 15 50 25 80 22 110 46 21 35 51 34 81 32 111 48 22 50 52 20 82 30 112 21 23 32 53 15 83 29 113 43 24 13 54 2 84 24 114 3 25 46 55 28 85 48 115 24 26 15 56 3 86 48 116 39 27 44 57 50 87 18 117 35 28 22 58 7 88 50 118 16 29 21 59 27 89 22 119 38 30 34 60 33 90 10 120 41 So here we have the approximate number of times an individual used digital mode of banking in a month. Here we have to determine if 120 respondents used mobile banking atleast 20 times on an average. From this as a researcher I can determine that, are respondents acquainted with digital mode of banking? If yes, then banks can focus on improvements of digital banking and enhance the customer experience.
- 26. 9. Respondents’response on reasons encouraging use of digital mode of banking: What encourages you the most to use digital banking? Reduced transaction charges Rewards/ free vouchers Virtual assistance/chatbots Userfriendly interface Hassle-free & secure transations From the representation in above bar graphs, it was concluded that: Out of 120 respondents 14 never considered reduced transaction charges as the reason for their encouragement to use digital banking. 27 respondents rarely considered the above stated reason as encouragement to use digital banking. 29 respondents considered it sometimes. 50 respondents considered that reduced transaction charges frequently encouraged them to use digital banking. Out of 120 respondents 13 never considered getting rewards as the reason for their encouragement to use digital banking. 26 respondents rarely considered the above stated reason as encouragement to use digital banking. 28 respondents considered it sometimes. 27 and 26 respondents considered that getting rewards oftenly and always encouraged them to use digital banking. Out of 120 respondents 22 never considered virtual assistance as the reason for their encouragement to use digital banking. 35 respondents rarely considered the above stated reason as encouragement to use digital banking. 31 respondents considered it sometimes. 20 and 12 respondents considered that virtual assistance oftenly and always encouraged them to use digital banking. Out of 120 respondents 6 never considered user-friendly interface as the reason for their encouragement to use digital banking. 15 respondents rarely considered the above stated reason as encouragement to use digital banking. 34 respondents considered it sometimes. 29 and 36 respondents considered that user-friendly interface oftenly and always encouraged them to use digital banking. Out of 120 respondents 10 never considered hassle-free & secure transactions as the reason for their encouragement to use digital banking. 10 respondents rarely considered the above stated reason as encouragement to use digital banking. 24 respondents considered it sometimes. 36 and 40 respondents considered that hassle-free & secure transactions oftenly and always encouraged them to use digital banking.
- 27. FINDINGS, SUGGESTIONS & CONCLUSION FINDINGS • People are more inclined towards digital mode of banking. • Most of the respondents preferred public sector banks rather than private sector banks. • People are not ready to avail banking services, so as to keep cash with them, in this pandemic crisis. • Most of the people find digital avenues of banking easy rather than visiting a branch. • Students and not earning individuals prefer those banks which doesn’t have minimum requirement of balance. • Old aged people tend to use traditional banking method rather than online. • Population staying in rural areas trusts Public sector banks rather than private. ( also no private bank in rural) • Bill payments and fund transfers is the most used feature in digital banking. • People rely on digital banking because of hassle free transactions and security reasons. • Among my respondents AXIS Bank had 13 customers which comprised of 11.1% of my total respondents. Here to increase customer base AXIS bank should apply competitive strategy. • Apart from CASA banks people tend to have insurance and demant accounts from their banks. RECOMMENDATIONS / SUGGESTIONS The policymakers have to take precise measurements for improving the delivering services in E-Banking as follows. • Clearing of cheques takes time and people don’t want to move out of there places unnecessarily. Like AXIS Bank Canada, India should also start E-cheque clearing through scans from iMobile App itself. • Educate old aged population about digital services provided by banks. • Near my catchment, 2 talukas i.e. Surangi and Velugam has been cleared with 80 acres of land each for Industrial purpose, AXIS Bank may seek business there. • Also AXIS Bank should take initiatives like digital village near my catchment as people in rural areas nearby are yet not aware of various banking services. • Schemes for rural population will be key. • Focus on insurance products due to COVID-19 pandemic. • Tie-ups with various institutions for education loans. • Providing POS machines at cheaper rate to retail stores, this will increase the customer base too. • Keep its digital banking apps i.e. iMobile, Instabiz and Pocket bugs free and should focus on ratings and feedbacks of customers on App stores regarding the same. AXIS Bank in integration with AXIS Securities can organize investments and savings awareness programs so as to increase their base in trading accounts, mutual fund investments and AXIS Lombard health plans too.