ING Vysya. KYC ( Know your catchment area) of ING Vysa. http://www.unitedworld.edu.in/
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This document summarizes surveys conducted around two bank branches to analyze the local business potential. For the Kankurgachi branch, sectors like retail, medical, and apartments comprised over 50% of identified entities. Savings accounts made up 61% of accounts held. Customers preferred quick funds transfers and account updates. Around the Salt Lake branch, 64% were residential row houses and 49% of identified entities were banks or ATMs. Axis and Punjab National Banks were most popular for savings accounts, while UCO Bank was preferred for current accounts. The document provides recommendations like improved promotion and customer service.
ING Vysya. KYC ( Know your catchment area) of ING Vysa. http://www.unitedworld.edu.in/
- 1. KNOW YOUR CATCHMENT AREA (KYC)
- 2. OF
- 4. PROJECT BRIEF “ Know Your Catchment Area” involved conducting a thorough survey of areas within two to three kilometres of the Branches assigned for the project work. Purpose of the project : To find out the scope of business and make a strategic analysis of business potential at branch level. Data collection : Data collected consisted of : Names of the entities Addresses of the entitities Distance of entities from the branch Average no. of customers per day in case of shops No. of bank A/cs a person holds.
- 5. BRANCHES ASSIGNED Kankurgachi Branch (P-182, Ground Floor, CIT Road, Scheme VI(M), Kolkata 700054) Salt Lake Branch (AB-3, Sector 1, Salt Lake, Kolkata 700064)
- 7. SECTORAL COMPOSITION APT, 11.67% EDU, 2.67% DAILY, 13.33% SERVICES, 4.67% BANKS, 5.67% NBFC, 0.67%ATM, 6.67% MEDICAL, 12.33% SWEETS, 3% TRUSTS, 1.33% JEWELLERY, 2.67% FURNITURE, 2.33% RESTAUR, 3.67% MOBILE, 2.33% ELECTRO, 1% RETAIL-L, 3.67% RETAIL-S, 19.33% LAUNDRY, 2.33% GOVT BOD, 2.33% MISC, 1.67%
- 8. AREA ANALYSIS Apartment, standalone houses and complex(11.67%) Educational Institutions including schools(primary/secondary), coaching classes(2.67%) B2C – daily needs-single(13.33%) B2C –other services like travel operators, matrimony, accounts and audit firms, etc(4.67%) Banks(5.67%) Non-Banking Financial Institutions(NBFCs)(0.67%) ATMs(6.67%) Health Clinic/Medical Stores(12.33%) Sweets and Snacks Shops(3%) Trusts and Associations(1.33%)
- 9. Jewellery Stores(2.67%) Furniture Shops(2.33%) Restaurants, coffee shops and juice bars(3.67%) Mobile connection dealerships(2.33%) Electronics shops and dealerships(1%) Retail stores-Large and Small(3.67% & 19.33% respectively) Laundry Services(2.33%) Government regulated bodies(2.33%) Miscellaneous – Bookstore, Travel bags , Lighting and decorations, Beauty parlour(1.67%). A total of 300 data has been collected.
- 10. ANALYSIS Number of respondents for the survey : 168 Number of Savings A/c holders : 102 Number of Current A/c holders : 66 61% 39% Classification of A/c holders Savings A/c-102 Current A/c-66
- 11. Basically, Kankurgachi is a residential area Most of the owners of kirana shops and paan shops do not have any Bank Accounts. Most of the residents are salaried employees, indicating the high number of Savings A/cs.
- 13. 95% 4% 1% Number of Current Accounts SBI-160 IDBI - 6 HDFC - 2
- 14. ANALYSIS State Bank Of India, IDBI Bank and HDFC Bank were the preferred banks for holding Current A/cs. No specific reasons were given by respondents. Yet, a few common responses were : Less distance between place of business and the bank State Bank Of India is the most trusted bank in India IDBI and HDFC ensure faster cheque clearances.
- 15. ICICI DENA BANK IDBI UBI 49% 32% 12% 7% Share of Salary Accounts
- 16. ANALYSIS It had been found that 49% of the respondents having Savings A/c hold Salary A/cs in banks. The rest hold other types of Savings A/cs. ING Vysya can thus tap the working class by providing better Savings A/c Services to them. Most prefer ICICI Bank , followed by Dena Bank, IDBI Bank and UBI Bank. Many have said that ICICI bank works very fast and takes very less time in processing transactions. Distance is also a strong factor.
- 17. PREFERRED SERVICES FOR SAVINGS A/C HOLDERS 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% Faster A/c updation Quick Funds Transfer Cheque pickup services High Interest Customer service Percentage of customers preferring various banking services
- 18. The respondents were asked to choose any one option in the questionnaire and it has been found that customers prefer quick transfer of funds through NEFT/RTGS facilities the most followed by faster A/c updation through SMS alerts or messages through net banking and A/c statements sent to the A/c holder at regular intervals
- 19. PREFERRED SERVICES FOR CURRENT A/C HOLDERS 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% Faster A/c updation Quick cheque clearance RTGS/NEFT related services Less Documentation Customer service
- 20. Current A/c holders prefer clearance of cheques to other facilities as most of the businessmen engage in day-to-day transactions which may involve drawing cheques of lumpsum amount or receiving payment on timely delivery of goods/services.
- 21. SALT LAKE BRANCH ANALYSIS
- 22. SECTORAL COMPOSITION Row Houses 64% Banks 3% ATM 2% Restaurants & Coffee Shops 3% Education 7% Electron 2% Health 2% Apparels 3% Govt bodies 1% Jewellery 1% Trusts 0% Other serv 9% NBFCs 3% Occupancy
- 23. AREA ANALYSIS Row House(208) Banks(10) ATM(5) NBFCs(9) Restaurants & Coffee Shops(9) Electronics dealerships(6) Educational Institutions(21) Health Clinics(8) Apparels, shoes & accessories(10) Government regulated bodies(3) Jewellery Stores(2) Other services like laundry, courier, beauty parlour , gyms(30) Trust & Associations(1) Total of 323 data has been collected.
- 24. CATEGORIES OF BANKS IN THE AREA SURVEYED 43% 43% 14% Occupancy Rate Private Sector Banks Public Sector Banks Foreign Banks
- 25. There are 6 Public Sector Banks including the State Bank Of India , Punjab National Bank, UCO Bank, Dena Bank, UBI and Syndicate Bank, 6 Private Sector Banks namely, ICICI Bank, HDFC Bank, Axis Bank, ING Vysya Bank, South Indian Bank and IDBI Bank and, 2 Foreign Banks , HSBC and Royal Bank Of Scotland.
- 27. 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% Savings A/c Current A/c Both A/cs Chart Title Out of 125 people who responded, 33 respondents own Savings A/c in the areas surveyed around the Salt Lake Branch , 27 respondents own Current A/c and 65 respondents own both the A/cs.
- 28. PREFERRED BANKS FOR SAVINGS A/C HOLDERS 29% 25% 42% 4% Occupancy Rate Punjab National Bank ICICI Axis Bank South Indian
- 29. Out of 98 Savings A/c holders, 28 prefer PNB, 41 prefer Axis Bank, 25 ICICI and 4 South Indian Bank. Analysis : Axis Bank is preferred the most by the wealthy class engaging in Axis Bank’s Premium Banking facilities. The reasons given by those who have opted for PNB are zero initial deposit and minimum balance requirement for Salary A/c and zero charges. Some prefer ICICI Bank due to its Money Multiplier Facility. The rest prefer South Indian Bank due to distance convenience and Savings Ac facilities,
- 30. PREFERRED BANK FOR CURRENT A/C HOLDERS UCO Bank SBI Syndicate Bank Punjab National Bank 34.78% 21.74% 28.26% 15.22%
- 31. Out of 92 Current A/c holders, 32 hold current A/cs in UCO Bank followed by 20 in State Bank Of India, 26 in Syndicate Bank and 14 in Punjab National Bank. Analysis : Businesspersons owning shops in and around shopping complex, City Centre prefer UCO Bank which is nearest to the complex as it saves time and expense of travelling. Some prefer SBI, Salt Lake as it is the most trusted bank. Syndicate Bank preferred due to RTGS/NEFT services. Some prefer PNB as it provides instant credit of outstation cheques within a specified amount, free cheque leaves 100 per quarter and 5 free demand drafts and low minimum balance requirement maintenance.
- 32. RECOMMENDATIONS Location of the branch should be prominent Even setting up more ING Vysya Bank ATMs might bring the bank to the notice of people. Promotion through campaigns and setting up kiosks Advertising through different kinds of media Sponsorship in Bengal in Puja festivals Sponsorship of football games in Bengal Online payment gateway for students appearing for competitive exams Make people aware of its products and services through advertisement s on the Internet.
- 33. LIMITATIONS Strict instructions from project guide not to mention ING Vysya Bank Thought of to be sales or insurance agent in Salt Lake Some information related to annual turnover and income are not true Unnecessary conversation led to waste of time Latest chit fund scams have instilled fear in most people’s minds, as a result many did not want to divulge bank related information.
- 34. http://www.unitedworld.edu.in/ Campus Ahmedabad Campus: Karnavati Knowledge Village, A/907,Uvarsad, S.G.Highway, Gandhinagar Kolkata Campus: Infinity Benchmark Tower 10th Floor, Plot - G1, Block - EP& GP, Sec - V, Salt Lake, Kolkata. Reg. Office: 407, Zodiac Square, 4th Floor Opp. Gurudwara, S.G. Road, Bodakdev, Ahmedabad.