RESEARCH PROJECT REPORT

(BBA-605)

A COMPARATIVE STUDY ON
CUSTOMERS SATISFACTION TOWARDS
ONLINE BANKING SERVICES WITH
REFERENCE TO ICICI AND HDFC BANK
IN LUCKNOW

Towards partial fulfillment of

Bachelor of Business Administration (BBA)

(BBD University, Lucknow)

Guided by-: Submitted

by-:

Mr. Shubham Pratap Singh Sooraj

Shukla

Roll No

1140671201

Session 2016-2017
 School of Management

Babu Banarasi Das University

Sector I, Dr. Akhilesh Das Nagar, Faizabad Road, Lucknow (U.P.) India.
1
 ACKNOWLEDGEMENT

Perseverance, inspiration and motivation have always played a key role in the success of

any venture. A successful and satisfactory completion of any project is the outcome of the

invaluable aggregate contribution of different persons fully in radical direction, explicitly

or implicitly.

Whereas vast, varied and valuable reading efforts leads to substantial acquisition

of knowledge via books and allied information sources. True expertise excludes from

collateral practical works and experiences.

Words has never seemed as inadequate as now, when I am endeavouring to express

my heartfelt gratitude at the culmination of the project, to all those made it possible. Even

the best effort is waste without proper guidance and advice. I highly solicit to my guide

Mr. Shubham Pratap Singh for giving time-to-time suggestion and their valuable

guidance, co-operation, inspiration and keen supervision to our project.

Last but not the least; I am grateful to God, my Parents, Elders and Friends for

encouraging us to take up this challenging task.

Sooraj Shukla

2
 PREFACE

The primary objective of this report is to provide the insight into the core of A

comparative study on customer satisfaction towards online banking services with

reference to ICICI and HDFC bank in Lucknow and an understanding Banking Policy

& its importance in relation to Indian Banking Industry.

We hope that the report has made the text interesting and lucid. In writing this report, we

have benefited immensely by referring to many publications and articles. We express my

gratitude to all such authors and publishers.

Any suggestions to improve this report in contents or in style are always welcome and

will be appreciated and acknowledged.

3
 EXECUTIVE SUMMARY
My project aims at Comparative study on Customer Perception Towards E-banking

With Respect To HDFC and ICICI Bank. In this research study 100 respondents from

both the Banks were taken, After analyzing the results of the questionnaire we

conclude that even now a days banks are providing innovative services day by day,

but still there are a lot of customers who are even not aware about these services, the

usage of these service s is a different issue, Today Banks are using huge amount

of funds to provide differentiate services to their customers from their competitors

like by using new software or by providing new innovative services like internet

banking, mobile banking, and many others but still they are focusing only to

provide the innovative services to the customers not focusing too aware them

regarding these services and also there is a need to aware the customers about the use

and benefits to the services provided by the bank, because its the way to get

competitive advantage, as per as we all know that today most of the organizations

are focusing on the promotion- element of marketing mix, which is providing

financial as well as non financial benefits like Brand image, so these Banks is not

focusing over this element, Majority of the respondent in Bank have savings account

with banks. The facility that was avail d by most of the people at these Banks was that

of ATM/Debit Cards. The most important channel that aware customer most regarding

the innovative services is family& friends.

4
 TABLE OF CONTENT
Certificate
Acknowledgement
Preface
Executive summary
Sr. Topic Page no.
1. Introduction & Review of literature

2. Company profile

3. Objectives of the study

4. Research methodology

5. Data Analysis and interpretations

6. Limitations

7. Findings

8. Suggestions

9. Conclusions

Appendix
Bibliography

5
 CHAPTER-1
INTRODUCTION
 INTRODUCTION

AN INTRODUCTION TO ONLINE BANKING

With cyber cafes and kiosks springing up in different cities access to the Net is going to

be easy. Net banking (also referred as e banking) is the latest in this series of

technological wonders in the recent past involving use of Internet for delivery of banking

products & services. Even the Morgan Stanley Dean Witter Internet research emphasized

that Web is more important for retail financial services than for many other industries.

Internet banking is changing the banking industry and is having the major effects on

banking relationships. Banking is now no longer confined to the branches were one has to

approach the branch in person, to withdraw cash or deposit a cheque or request a

statement of accounts. In true Internet banking, any inquiry or transaction is processed

online without any reference to the branch (anywhere banking) at any time. Providing

Internet banking is increasingly becoming a "need to have" than a "nice to have" service.

The net banking, thus, now is more of a norm rather than an exception in many developed

countries due to the fact that it is the cheapest way of providing banking services.

MEANING OF ONLINE BANKING

Net banking is a concept which enables everyone to conduct business with a bank from

the comfort of home or office.

Net banking means application of electronic technology towards transfer of funds

through an electronic terminal, computer or magnetic tape to conduct various transactions

like cash receipts, payments, transfer of funds, etc. It is often known as banking on net

or e banking.
DEVELOPMENT OF ONLINE BANKING IN INDIA

The financial reforms that were initiated in the early 1990s and the globalization and

liberalization measures brought in a completely new operating environment to the banks.

The bankers are now offering innovative and attractive technology-based services and

products such as Anywhere Anytime Banking, Tele-Banking, Internet Banking,

Web Banking, Net Banking, Mobile Banking, etc. to their customers to cope with

the competition. The process started in the early 1980s when Reserve Bank of India

(RBI) set up two committees in quick succession to accelerate the pace of automation of

operations in the banking sector. A high-level committee was formed under the

chairmanship of Dr. C. Rangarajan, then Governor of RBI, to draw up a phased plan for

computerization and mechanisation in the banking industry over a five-year time frame of

19851989. The focus by this time was on customer service and two models of branch

automation were developed and implemented. Having gained experience in the earlier

mode of computerization, the second Rangarajan committee constituted in 1988 drew up

a detailed perspective plan for computerization of banks and for extension of automation

to other areas such as funds transfer, e-mail, BANKNET, SWIFT, ATMs, net banking,

etc. The Government of India enacted the Information Technology Act, 2000 (generally

known as IT Act, 2000), with effect from 17 October 2000 to provide legal recognition to

electronic transactions and other means of electronic commerce. RBI had set up a

Working Group on net banking to examine different aspects of net banking. The Group

had focused on three major areas of net banking such as

(1) Technology and security issues,

(2) Legal issues and

(3) Regulatory and supervisory issues.

RBI had accepted the recommendations of the Working Group, and accordingly issued

guidelines on internet banking in India for implementation by banks. The Working

Group has also issued a report on net banking covering different aspects of net banking.

Internet banking in India is currently at a nascent stage. While there are scores of

companies specialising in developing internet banking software, security software and

website designing and maintenance, there are few online financial service providers.

ICICI bank is the first one to have introduced net banking for a limited range of services

such as access to account information, correspondence and, recently, funds transfer

between its branches. ICICI is also getting into e-trading, thus offering a broader range of

integrated services to the customer.

Several finance portals for provision of non-banking financial services, e-trading and e-

broking have come up. Commercial applications such as Electronic Bill Presentment

(EBP) and Procurement systems may not be introduced in India immediately, but are

likely to have a greater impact than the retail applications. The corporate sector is

adequately computerized and has already recognized the important role of e-commerce in

future. Increasingly, companies are setting up websites even where there are no

immediate tangible benefits to them from doing so.

 ONLINE BANKING IN INDIA RBI GUIDELINES

In India, internet banking or net banking is in rudimentary stage. In order to promote

safety and soundness of internet banking activities, the RBI constituted a Working Group

on Internet Banking. The Group issued guidelines in June 2001. The Group divided the

internet banking products in India into 3 types based on the levels of access granted. They

are

Information Only System

Electronic Information Transfer System

Fully Electronic Transactional System.

ADVANTAGES AND DISADVANTAGES OF ONLINE BANKING

Internet Banking also has its advantages and disadvantages. Below are mentioned the

most popular advantages of using Internet Banking along with some unavoidable

disadvantages.

The advantages include

Convenience - online banking sites never close; they're available 24 hours a day, seven

days a week, and they're only a mouse click away;

Portability you now have access to money whenever there is an emergency, whether or

not you are in the country;

 Transaction speed - online bank sites generally execute and confirm transactions at the

same rate or quicker than, ATM processing speeds;

Effectiveness they offer sophisticated tools, including account aggregation, stock

quotes and rate alerts to help you manage all of your assets more effectively.

Reduction in workload - No more standing in long lines at the bank, eliminating endless

paper based bank statements.

The disadvantages include

Lack of Computerization - which relates to virtual banks, revolves around the lack of

ATMs;

Start-up may take time - In order to register for your bank's online program, you will

probably have to provide ID and sign a form at a bank branch which can be time

consuming;

Learning curve - Banking sites can be difficult to navigate at first;

Distrust of the User - the possibility of frauds, making errors etc.

Problem of Security Various sites are not properly looked at to ensure whether

customers money is safe in cyber world or not.

TRADITIONAL BANKING VS ONLINE BANKING

Net banking or internet banking works much like traditional banking. The primary

difference is that in net banking account and information is accessed, payments are made

and statements reconciled using computer rather than paper or the phone to complete

transactions. Instead of going down to local branch office when one bank online he/she

can accomplish multiple tasks at once with the click of a button.

Online banking is rapidly becoming more and more popular as consumers recognize the

advantages online banking has to offer. For one most banks charge fewer fees if you take

advantage of their online banking services. You can also stop receiving paper statements

if you like in many cases and conduct 95% of your business over the Web when you take

advantage of Internet banking.

What to Internet Banks do? The same things traditional banks do. They hold onto our

money and lend it out to others respectively. The manage loans and help us keep track of

our finances. Chances are if you own a bank account at a traditional bank they offer some

type of Internet banking or online services. The next time you stop into your branch

office you should ask them about online banking. You may find once you start you have

no desire to go back to traditional banking.

For those that have a hard time keeping track of paper statements, Internet banking is a

life saver. Internet banking is also advantageous for frequent travelers that need to keep a

close eye on their finances from abroad.

ONLINE BANKING SERVICE AT HDFC BANK

Net banking is HDFC Bank's Internet Banking service. It provides up-to-the-second

account information. Net banking lets the customer manage his/her account from the

comfort of his/her mouse - anytime, anywhere. Net Banking services provides access to

account information, products and other services (including transactions of non-financial

and financial in nature) as advised by the Bank from time to time to the customers

through the website of the Bank. Net Banking Services also include the services for

Demat account, Credit Cards and loan on the website of the Bank.

The HDFC Bank web site (www.hdfcbank.com) also features two versions of a demo

facility - one "interactive" and the other "guided" - making it possible for even Internet

illiterates to get comfortable with its services.

On the downside, however, 'registration' for the service involves downloading of a form

that needs to be posted/delivered to any of its branches - not exactly "web savvy" as we

would call it. Also, the form itself requires Adobe Acrobat Reader to be installed and the

file size will exceed 5.5 MB, which translates roughly into an hour or more of on-line

time. Its 3-question FAQ page also assumes a high level of computer knowledge from

users ... not consistent with the rest of the website.

Net Banking service provides a host of features at the finger-tips:

View Account Balances & Statements

Transfer Funds between accounts

Create Fixed Deposits Online

Request a Demand Draft

Pay Bills
 Order a Cheque Book

Request Stop Payment on a Cheque

And lots more.

SERVICES OFFERED UNDER ONLINE BANKING SERVICE

PROVIDED BY HDFC BANK

HDFC Bank Savings and Current account holders can access their account through Net

Banking.

Currently, Net Banking service is offered to the HDFC Bank customers free with all

accounts. However, all minimum balance/deposit amount requirements of the relevant

accounts will need to be honoured. No separate fee is charged to access this service.

Currently, one can do any of the following:

Queries -

Check your Balance

See your Statement

Inquire about cheque status

Ask for a Statement

Ask for a Cheque Book

Inquire about your Fixed Deposit

Inquire about your TDS details

See your Demat Account

Update your profile

View HDFC bank Credit card bills

View your Mutual funds portfolio

Transactions -

Stop a Cheque

Pay your Bills

Ask for a Demand Draft

Transfer funds between your accounts

Transfer funds to a third party

Request for a new Fixed Deposit

Shop Online

Pay HDFC Bank Credit Card Dues

Buy and sell Mutual Funds.

SECURITY AND SAFETY OF TRANSACTIONS ON ONLINE

BANKING

The customer can be assured of complete privacy when you use HDFC Bank's Net

Banking facility. The bank has built several checks to safeguard the Net Banking

transactions. Before the user gain access to his/her account, he/she will be asked to enter

his/her unique customer ID and IPIN (password) to verify the identity. To maximise the

security and confidentiality of the transactions, ones password is not accessible to

anyone, not even bank employees.

To ensure the security of the transactions, the bank uses a technology called Secured

Socket Layer (SSL), which involves scrambling of the information between the customer

and the Bank. If an unauthorized user tries to access your account by keying in various

combinations while trying to guess your password, your account will automatically get

locked. Moreover, when the user log-in to Net Banking, the last date and time of log-in

will be displayed so that the user can make sure that nobody has accessed his/her account.

In addition to these online security features, have been placed under the supervision of a

dedicated team to monitor the access to the web server and to prevent unauthorized

access. These features work together to maximise the security of your banking

transactions.

HDFC bank has implemented a new security solution for its customers - secure access as

security of the customer is banks top priority, the bank has initiated the secure access

solution to protect the customers from fraudsters and hackers.

Currently following transactions are covered under secure access

Transfer from one HDFC bank account to other HDFC bank account

Transfer from HDFC bank account to any other bank's account

Visa money transfer

Third party demand draft through net banking.

Internet banking has been exploited by hackers and fraudsters to deceive the bank's

customer and commit frauds. While the bank has best-of-the-breed solutions, processes

and people deployed to extend secure banking to its customers, it is important for our
customers to know that "security is incomplete without u". Customers need to follow

secure computing guidelines to avert any frauds or security breaches to their accounts, as

keys to the internet banking accounts are held by respective account owners in the form

of customer IDs and internet banking passwords (I PIN). Here are some internet banking

security tips provided by HDFC bank:

1. Keep your customer ID and IPIN confidential and do not disclose it to anybody.

2. Change your IPIN as soon as you receive it by logging into your net banking

account. Memorize your IPIN, do not write it down anywhere.

3. Refer "protect your computer accounts with strong passwords" section under

computer security tips.

4. Avoid accessing internet banking from shared computer networks such as cyber

cafes.

5. Do not click on links in the emails or sites other than www.hdfcbank.com to

access your net banking webpage.

6. Always visit the HDFC bank's net banking site through HDFC bank's home page

by typing the bank's website address (www.hdfcbank.com) on to the browser's address

bar. Users are encouraged to add the bank's url to favorites or bookmark in the user

computer browser.

7. Always verify the authenticity of the bank's net banking webpage by checking its

url as "https://netbanking.hdfcbank.com" and the pad lock symbol at the bottom corner of

the browser before putting in your customer ID and IPIN.

8. If your customer id and ipin appear automatically on the login page of net banking

webpage, you should disable "auto complete" feature on your browser. To disable auto

complete feature:

a. Open internet explorer, click on tools=> internet options=> content.

b. Click on "auto complete", under "personal information"

c. Uncheck "user names and passwords on forms", click on "clear passwords"

d. Click "ok"

9. Use virtual keyboard feature while logging into your internet banking account.

10. Do cross check your last login information available in net banking upon every

login to ascertain your last login and monitor any unauthorized logins.

11. Always type your confidential account information. Do not copy paste it.

12. Monitor your transactions regularly.

13. Use HDFC bank's "InstaAlerts" service.

14. Always logout when you exit net banking. Do not directly close the browser.
 REVIEW
OF
LITERATURE
 REVIEW OF LITERATURE

.A number of researches has been conducted on Online banking and its adoption,

development and its perils. Due to shortage of time and resources, a review of all the past

researches done could not be mentioned in this research project. So, a snapshot of some

of the reviews have been presented.

Nath et.al (2001) in their study found that in every industry, E-commerce is

revolutionizing the way business is conducted. New business models are replacing

outdated ones and organizations are rethinking business process designs and customer

relationship management strategies. Banks are no exception to this transformation. This

study examines bankers' views on providing banking services to customers using the

web. Specifically, it addresses issues such as the strategic need for Internet banking, its

effect on customer-bank relationships, and customers' experiences in Internet banking.

Data collected from 75 banks show that most banks do not yet offer full-fledged Internet

banking. However, most have plans to do so. Furthermore, bankers see Internet banking

as a strategic opportunity that can reduce transaction costs, enhance customer service,

increase the customer base and improve cross-selling opportunities. Also, Internet

banking is perceived more favorably by banks that offer it compared to those that do not.

Corrocher (2002) in his study examined the drivers of the adoption of the Internet

banking, in order to understand its role with respect to the traditional banking activity and

to offer a comprehensive picture of the diffusion of such a technology within the sector.

In doing so, it analyses the role of firm-specific and non firm-specific (technology,
market, environment) characteristics in influencing the decision to adopt the new

technological platforms to perform on-line banking transactions within the retail segment

of the financial sector. The main purpose of this paper is to investigate the relationship

between the Internet banking and the traditional banking activity, in order to understand if

these two systems of financial services delivery are perceived as substitutes or

complements by the banks.

Leary (2002) in his study examined how Internet or electronic banking is slowly but

surely reviving itself after numerous attempts by various financial institutions and

financial intermediaries in the 1970 and 1980s. The standardization in technologies and

the public's familiarity with the use of personal computers and the Internet have made the

Internet bank or Internet banking site easier, cheaper and more cost effective than ever

before. This paper discusses the coming of age of Internet banking, the opportunity for

Internet banking and some of the obstacles and procedures that must be followed in order

to develop a sound Internet banking presence.

Bradley & Stewart (2003) conducted a research in which they studied the factors

driving the adoption of internet banking. The financial services environment has been

subject to changes on many fronts. Technological change and the advent of the Internet

are among the most dramatic and challenging areas of change for the sector. This paper

looks at retail banking and its adoption of online banking, in particular the factors driving

and inhibiting adoption by banks. An international Delphi study confirms the high level

of importance of the Internet for retail banking. By 2011, it is expected that bank

adoption of the Internet will be near universal. The key factors that are driving banks to
adopt online banking are the adoption by other banks, competitive forces, consumer

demand and the availability of technology. Working against adoption are banks'

perceptions that the Internet does not offer enhanced ability to deal with customers as

well as bank resistance to change, their existing legacy systems and the resources

required to adopt.

Singh & Malhotra (2004) in their study found that the tremendous advances in

technology and the aggressive infusion of information technology had brought in a

paradigm shift in banking operations. The purpose of this paper is to help fill significant

gaps in knowledge about the Internet banking landscape in India. The paper presents data,

drawn from a survey of commercial banks websites, on the number of commercial banks

that offer Internet banking and on the products and services they offer. It investigates the

profile of commercial banks that offer Internet banking, using univariate statistical

analysis, relative to other commercial banks with respect to profitability, cost efficiency,

and other characteristics. By the end of first quarter, 2004, differences between Internet

and non-Internet banks had begun to emerge in funding, in sources of income and

expenditures and in measures of performance. It was also found that the profitability and

offering of Internet banking does not have any significant correlation.

Laukkanen & Tommi (2007) in their research aimed to compare customer perceived

value and value creation between internet and mobile bill paying service. A qualitative in-

depth interviewing design was applied in order to ascertain the factors that create value

perceptions in fund transfer service via personal computer and mobile phone. The
findings suggest that efficiency, convenience and safety are salient in determining the

differences in customer value perceptions between internet and mobile banking. The

findings of the qualitative study, being more depth than wide in nature, deserve to be

quantitatively measured in future studies in order to provide more generalized results.

The paper provides enhanced information for business managers about both positive and

negative customer value perceptions in internet and mobile banking. By understanding

how and what kind of value different service channels provide for customers service

providers are better enabled to create actions to enhance internet and mobile banking

adoption. The contribution of the paper lies in achieving a more profound understanding

on consumer value perceptions to internet and mobile banking. It expands the literature

on electronic and mobile commerce and on electronic banking especially.

Nandan et.al (2008) in his paper discusses the concept of Internet Banking, perception of

Internet bank customers, non-customers and issues of major concern in Internet banking.

The state of Internet banking in India has been explored using various concepts like E-

banking continuum, and gap analysis related to the various services and the security

features offered. In order to have a clear and focussed insight about the perceptions of

users (and non-users) about Internet banking a survey was conducted. The findings of the

survey provide valuable insights into concern for security, reasons for lower penetration,

and likeliness of adoption, which have been used to make useful recommendations.

Mishra & Kiranmai (2009) in their study found that information technology is

considered as the key driver for the changes taking place around the world. According to
Heikki, the transformation from the traditional banking to e-banking has been a 'leap'

change. The evolution of e-banking started from the use of Automatic Teller Machines

(ATMs) and telephone banking (tele-banking), direct bill payment, electronic fund

transfer and the revolutionary online banking. The future of electronic banking would be

more interactive i.e., TV banking. Finland is the first country in the world to have taken a

lead in e-banking. In India, ICICI Bank initiated e-banking services during 1997 under

the brand name 'Infinity'. It has been forecasted that among all categories, online banking

is the future of electronic financial transactions. The rise in e-commerce and internet in

enhancing online security transformation and sensitive information has been the core

reason for the penetration of online banking in everyday life. The shift towards the

involvement of the customers in the financial service with the help of technology,

especially internet, has helped in reducing costs of financial institutions as well as

clients/customers who use the service at anytime and from virtually anywhere with access

to an internet connection.

Uppal (2009) in his study found that in the post-LPG (Liberalization, Privatization and

Globalization) era and Information Technology (IT) era, transformation in Indian banks is

taking place with different parameters and the contours of banking services are

dynamically altering the face of banking, as banks are stepping towards e-banking from

traditional banking. On the basis of five-point likert-type scale, this paper empirically

analyzes the quality of e-banking services in the changing environment. With different

statistical tools such as weighted average method and ranking, the paper concludes that

most of the customers of e-banks are satisfied with the different e-channels and their

services, but the lack of awareness is a major obstacle in the spread of e-banking services.
The paper also suggests some measures to make e-banking services more effective in the

future.

Kuisma et.al (2006) conducted a research to identify the reasons for consumer resistance

to Internet banking. The special interest is to explore resistance among those bank

customers who already have valid contracts for Internet banking but prefer to pay their

bills via ATM. The objective is to identify those characteristics generating resistance to

Internet banking and their connections to values of individuals. In order to achieve the

objective, 30 Finnish bank customers were interviewed in-depth using the means-end

approach and the laddering interviewing technique. The findings indicate both functional

and psychological barriers arising from service-, channel-, consumer- and

communication-related means-end chains inhibiting Internet banking adoption. The

contribution of the paper lies in achieving a more profound understanding of consumer

resistance to Internet banking, and further, in offering suggestions and practical advice for

service providers' decision-making.

CHAPTER-2
 COMPANY
PROFILECOMPANY PROFILE
HDFC Bank Limited

Industry Banking, Financial services

Founded August 1994
Headquarters Mumbai, Maharashtra, India
Area served India
Key people Aditya Puri (MD)
Credit cards, consumer banking, corporate banking, finance and

Products insurance, investment banking, mortgage loans, private banking,

private equity, wealth management

Revenue 74,373 crore (US$11 billion) (2016)
Profit 12,817 crore (US$1.9 billion) (2016)
Total assets 730,261 crore (US$110 billion) (2016)
Number of employees 87,555 (April 2016)
Website HDFCBank.com

HDFC is India's premier housing finance company and enjoys an impeccable track

record in India as well as in international markets. Since its inception in 1977, the

Corporation has maintained a consistent and healthy growth in its operations to remain

the market leader in mortgages. Its outstanding loan portfolio covers well over a million

dwelling units. HDFC has developed significant expertise in retail mortgage loans to

different market segments and also has a large corporate client base for its housing

related credit facilities. With its experience in the financial markets, a strong

market reputation, large shareholder base and unique consumer franchise, HDFC was

ideally positioned to promote a bank in the Indian environment.

HDFC Bank began operations in 1995 with a simple mission : to be a World Class

Indian Bank. They realized that only a single minded focus on product quality and

service excellence would help us get there. Today, we are proud to say that we are

well on our way towards that goal.

HDFC Ltd has the objective to enhance residential housing stock and promote home

ownership. Their offerings range from hassle-free home loans and deposit products, to
HOD
property related services and a LEGAL
trainingMDfacility.
& CEO They also offer specialized financial
&
SECRETERIAL
services to the customer base through partnerships
GM
with some of the best financial
GM
GM
HOD FINANCE HOD OPERATIONS
SALES
IT & HR &
institutions worldwide.
& MARKETING
ACTURIAL UNDERWRITING

HDFC Bank is a young and dynamic bank, with a youthful and enthusiastic team
BUSINESS 7
HEAD ACCOUNTS OPERATION
determined to accomplish the vision of becoming a world-class Indian bank.
NORTH

Our business philosophy is based on four core values - Customer Focus, Operational
ZONAL
Excellence, ProductMANAGER
Leadership and People. We believe that the ultimate
MEDICAL identity and
UNDERWRITING

success of our bank will reside in the exceptional quality of our people and their
BUSINESS
extraordinary efforts. For this reason, we are committed ACTURIAL
HEAD
SOUTH
to hiring, developing, motivating

and retaining the best people in the industry.

ZONAL
MANAGER

HOD
INSTITUTIONAL SALES
ORGANISATIONAL STRUCTURE

HODCHANNEL DEVELOPMENT
& SALES TRAINING

HOD
MARKETING

HOD
BUSINESS PROCESS &
RESEARCH
 ABOUT THE BANK
HDFC Bank is a young and dynamic bank, with a youthful and enthusiastic team

determined to accomplish the vision of becoming a world-class Indian bank.

HDFCs business philosophy is based on four core values - Customer Focus, Operational

Excellence, Product Leadership and People. They believe that the ultimate identity and

success of bank will reside in the exceptional quality of people and their extraordinary

efforts. For this reason, they are committed to hiring, developing, motivating and

retaining the best people in the industry.

Why HDFC is better ?

1. Investment returns: investment returns and business growth provided by

HDFC is validated by bajaj Capital report. HDFC pacify the need of invertors up

to healthy level and make the strong relationship with them.

2. Financial Background and Experience: HDFC existing in the market

since 1977. It has a very handsome experience in the field of finance because it

completely involved in finance Sector only where as the others are running in

many other field also like Reliance (Petroleum, Textile, Telecom etc.)

3. Ethics and Values: HDFC is an ethical and cultural organization which

prevents the false selling and prohibit the false commitment to the customer.

4. Sales Force: Properly trend licensed and Educated People are the strength of

the company. So that they could give the best customer service.

5. Huge branch network HDFC is having 450 branches in all over the country.

6. Online accessibility : It makes the process faster and make the customer

delighted.
MISSION AND BUSINESS STRATEGY:-

Mission of HDFC is to be "a World Class Indian Bank", benchmarking themselves

against international standards and best practices in terms of product offerings,

technology, service levels, risk management and audit & compliance. The objective is to

build sound customer franchises across distinct businesses so as to be a preferred

provider of banking services for target retail and wholesale customer segments, and to

achieve a healthy growth in profitability, consistent with the Bank's risk appetite. They

are committed to do this while ensuring the highest levels of ethical standards,

professional integrity, corporate governance and regulatory compliance.

Business strategy of HDFC emphasizes the following:

Increase market share in Indias expanding banking and financial services

industry by following a disciplined growth strategy focusing on quality and not on

quantity and delivering high quality customer service.

Leverage technology platform and open scalable systems to deliver more products

to more customers and to control operating costs.

Maintain the current high standards for asset quality through disciplined credit

risk management.

Develop innovative products and services that attract targeted customers and

address inefficiencies in the Indian financial sector.

Continue to develop products and services that reduce cost of funds

 Focus on high earnings growth with low volatility.

BOARD OF DIRECTORS

PERSON DESIGNATION
Mr. Jagdish Capoor Vice President
Mr. Aditya Puri Managing Director
Mr. Paresh Sukthankar Executive Director
Mr. Harish Engineer Executive Director
Mr. Keki M. Mistry Director
Mr. Ashim Samanta Director
Mr. Arvind Pande Director
Mrs. Renu Karnad Director
Mr. C M Vasudev Director
Mr. Gautam Divan Director
Dr. Pandit Palande Directo
TOP MANAGEMENT

Abhay Aima Equities & Private Banking and NRI Business

Anil Jaggia Information Technology and Legal
Ashish Parthasarth Treasury
Bharat Shah Merchant SeRvices
G Subramanian Audit & Compliance
Kaizad Maneck Credit & Market Risk
Mandeep Maitra H.R, Admin & Infrastructure
Navin Puri Branch Banking
Pralay Mondal Assets & CREDIT CARDS
Rahul N Bhagat Retail Liabilities, Marketing & Direct Banking Channels
Ananthanarayan Operations
Sashi Jagdishan Finance
Sudhir Joshi Treasury
 BUSINESS HEADS
A Asokan Emerging Enterprise Group
Amit Kumar Retail Branch Banking-West 1
Anil Nath Business Banking - Working Capital & Retail Agri
Arup Rakshit Treasury
Ashima Khanna Bhat Emerging Corporate Group
Ashok Khanna Retail Assets TW
Bhavesh Chandulal Wholesale Operations

Biju Pillai Retail Assets - EL,PL,LAS & GOLD

Birendra Sahu retail Operations
Deepak Maheshwari Credit and Market Risk
Gsv Surya Prasad Information Technology
Harpreet Singh NRI Business
Jimmy M Tata Corporate Banking
Munish Mittal Information Technology
Nandkishor Laxman Financial Institution Group
Nitin Subramanya Equities and Private Banking
Parag Rao Credit Cards
Rajender Sehgal Financial Institution Group
Rohit Gaurav Marketing
Sanjay B Dongre Legal
Sanjeev Patel Direct Banking Channel
Tarini Vaidya Treasury
 PRODUCT OF HDFC BANK
ACCOUNT & DEPOSITS SERVICE

Banking should be effortless. With HDFC Bank, the efforts are rewarding. No matter

what a customer's need and occupational status, we have a range of solutions that are

second to none. Whether you're employed in a company and need a simple Savings

account or run your own business and require a robust banking partner, HDFC Bank not

only has the perfect solution for you, but also can recommend products that can augment

your planning for the future.

It includes these services: -

1. Saving accounts.

2. Current accounts.

3. Fix deposits.

4. Demate account.

5. Safe deposits lockers.

SAVINGS ACCOUNTS

These accounts are primarily meant to inculcate a sense of saving for the future,

accumulating funds over a period of time. Whatever persons occupation, bank have

confident that person will find the perfect banking solution. There some saving accounts

like: - Regular Saving Account: An easy-to-operate savings account that allows you to

issue cheques, draw Demand Drafts and withdraw cash. Check up on your balances from

the comfort of your home or office through Net Banking, Phone Banking and Mobile

Banking. If you need money urgently then you can take money from the ATM machine.

There are 1977 ATM centres across the country.

SAVING PLUS ACCOUNT

Introducing the best banking option for you with HDFC Bank Savings plus Account.

Now you can get access to some of the finest banking facilities with HDFC Bank's

Savings plus Account. All you have to do is maintain an Average Quarterly Balance of

Rs. 10,000/-.

SAVING MAX ACCOUNT

Welcome to a world of convenience. Presenting Savings Max account, loaded with

maximum benefits to make your banking experience a pleasure. By maintaining an

average quarterly balance of just Rs. 25,000/- you get a host of premium services from

HDFC Bank absolutely free.

SENIOR CITIZEN ACCOUNT

HDFC Bank appreciates your needs and endeavours, which is why, they present an

account especially dedicated to customer, which like a dutiful child will help you fulfil

your needs in the best manner possible.

 NO FRILLS ACCOUNT

In an effort to make banking simpler and more accessible for customers, bank has

introduced the 'No Frills' Savings Account, which offers customer all the basic banking

facilities. Customer can even avail of services like Net Banking, Mobile banking free of

cost. In this customer can put Zero Initial Pay-in and a Zero Balance account

INSTITUTIONAL SAVING ACCOUNTS

A specially designed account that offers twin benefits of a savings as well as a current

account. Customers funds continue to earn you interest while he enjoys hassle-free

banking & a host of other features. All this and more in a Zero Balance account.

SALARY ACCOUNTS

In this account customer can get salary from where he/she doing such job and

organization or company at where the customer of the bank in doing job deposit their

salary in to the salary account a person can get salary.

There are various kinds of saving accounts in the HDFC Bank like: -

1. Pay roll account.

2. Classic salary account.

3. Regular salary account.

4. Premium salary account.

5. Defence salary account.

6. No frills salary account.

7. Reimbursement salary account.

KIDS ADVANTAGE ACCOUNT

Start saving for your child today and secure his/her future a sentence tells by the HDFC

bank. Open a Savings Account and transfer money every month into customers Kids

Advantage Account and watch the savings grow as customers child grows. The

accumulated savings in the Kids Advantage Account can over the years help in meeting

customer child's needs.

Main features and benefits of this account are as follow:-

CURRENT ACCOUNTS

HDFC Bank Current Account gives the power of inter-city banking with a single account

and access to more than cities. From special cheques that get treated at par with local

ones in any city where branch, faster collection of outstation cheques (payable at branch

locations), free account to account funds transfer between HDFC Bank accounts to Free

inter-city clearing of up to 100 lakhs per month, banks priority services have become the

benchmark for banking efficiency.

Now, with an HDFC Bank Current Account, experience the freedom of multi-city

banking. Person can have the power of multi-location access to his account from any of

our 761 branches in 327 cities. Not only that, he can do most of his banking transactions

from the comfort of his office or home without stepping out.

There are various kinds of current account in this bank like: -

Plus current account

HDFC Bank plus Current Account gives the power of inter-city banking with a single
account and access to more than cities. Plus Current Account requires maintaining an

average quarterly balance of Rs. 100,000.

TRADE CURRENT ACCOUNT

In today's changing business requirements, you need to transfer funds across cities, and

time is of the essence. HDFC Bank Trade Current Account gives power of inter-city

banking with a single account.

From special cheques that get treated at par with local ones in any city where bank have

a branch, to free account to account funds transfer between HDFC Bank accounts, to free

inter-city clearing of up to 50 lakhs per month, banks priority services have become the

benchmark for banking efficiency. Trade Current Account requires maintaining an

average quarterly balance of Rs. 40,000.

PREMIUM CURRENT ACCOUNT

Business needs a partner who can manage finances while concentrate on growing

business. Form this account customer can avail benefits of inter-city banking account that

requires an average quarterly balance of only Rs. 25,000, offers Payable-At-Par cheque

book facility & FREE inter-city clearing transactions across our network up to Rs.25

Lacs per month.

A Current Account with the benefits of accessing account from a large network of

branches, and through direct access channels - the phone, mobile, Internet and through

the ATM.

REGULAR CURRENT ACCOUNT

A Current account is ideal for carrying out day-to-day business transactions. With the

HDFC Bank Regular Current Account, customer can access account anytime, anywhere,
pay using payable at par cheques or deposit cheque at any HDFC bank branch. It also

facilitates FREE NEFT transactions & FREE RTGS collections for faster collections in

account. Regular Current Account requires to maintain an average quarterly balance of

only Rs. 10,000.

With a vast network of branches in cities all over the country, and access to a multitude

of ATM's, customer can keep track of all transactions anytime.

REIMBURSEMENT CURRENT ACCOUNT

No more paperwork, no more receipts to keep track of - a hassle-free account that allows

deposit the reimbursements receive from company/organization on a monthly basis.

To open this account a person has to follow these processes:

Procure an Account Opening Document (AOD) from HDFC Bank. (If person has just

joined, first request to company to open up a Salary Account for particular person).

Mention Salary Account number and Debit Card number on the AOD so that Debit card

can be linked to both, Salary Account as well as new Reimbursement Account.

Request company to directly credit cash payments to the Reimbursement Account.

RFC DOMESTIC ACCOUNT

Full name of this account is Resident foreign currency account.

Have you accumulated foreign currency from travelling abroad frequently? Received

gifts from relatives in foreign currency? Or earned it by any other means as approved by

the Reserve Bank of India?

If so, open Resident Foreign Currency Domestic Account and manage foreign currency

efficiently. Person can choose to set up your account either in US Dollar, Great Britain
Pound or Euro. To open this accounts a person as to follow this process:

Choose the currency in which person wish to operate. Open account with an initial

amount as per the following-US Dollar = 250 Great Britain Pound = 200 Euro = 250 and

maintain an Average Quarterly Balance of the same amount.

FLEXI CURRENT ACCOUNT

Tired of static transaction limits during peak seasons? HDFC Bank Flexi Current Account

is the answer to changing banking needs during peak seasons.

With HDFC Bank Flexi Current Account Cash Deposit and Anywhere Transaction limits

are a multiple of the balance you maintain in Current Account. So, during peak seasons,

customer get the benefit of higher transaction limits due to the higher average balances

maintained in account. Whats more, during lean seasons, person need not worry about

maintaining huge balances to enjoy high transaction limits, which person anyway may

not need. Flexi Current Account requires to maintain a minimum Average Monthly

Balance (AMB) of just Rs. 75,000.

APEX CURRENT ACCOUNT

The top position is always the desirable position. With the Apex current account, take

business to a new high. On maintaining an average quarterly balance of Rs. 10 lakhs, this

account makes sure person make the most of every business opportunities coming his

way. Unlimited, free, anywhere Banking experience at the APEX is reserved for person

who joints this.

. MAX CURRENT ACCOUNT

Maximum benefits and minimum hassles for customer with Max Current Account with a

Rs. 5 lakhs average quarterly balance requirement, bank present to world of privileges

that helps business expand and grow. Features like maximum free transaction limits

including other beneficial features on this current account truly enhances business

potential to the Maximum.

FIX DEPOSITS SERVICE
Long-term investments form the chunk of everybody's future plans. An alternative to

simply applying for loans, fixed deposits allow to borrow from own funds for a limited

period, thus fulfilling needs as well as keeping savings secure.

People can invest his/her money into either in security market or gold or mutual fund or

into a fix deposits. People always go to that way where he/she can get more benefits and

minimum risks. So, for this purpose he has a better chance to deposits money in to the fix

deposit.

If people believe in long-term investments and wish to earn higher interests on his/her

savings, now is the time to invest money in HDFC bank Fixed Deposit. Get up to 9.75%

on HDFC Bank Fixed Deposit with an additional 0.50% for Senior Citizens. What's more

NO PENALTY if withdraw part of the FD in times of need. Flexibility, Security and High

Returns all bundled into one offering.

REGULAR FIX DEPOSIT

As per the rules and regulation of the bank a person can deposit their money in to a fix

deposit in the bank and can get the benefits of these facilities.

. FIVE YEAR TAX SAVING FIX DEPOSIT

In 2006, it was announced for the first time that Bank fixed deposits booked by an

Individual/HUF for 5 years & up to Rs. 1,00,000/- will be allowed exemption under Sec

80C of the Income Tax Act,1961 subject to necessary declarations taken from the

Customer.
SUPPER SAVER FACILITY

Customer can enjoy a high rate of interest along with the liquidity of a Savings Account

by opting for a Super Saver Facility on his or her savings account. Avail of an overdraft

facility of up to 75% of the value of his or her Fixed Deposit.

SWEEP-IN FACILITY

Do you wish to avoid taking overdrafts, and still take advantage of your Fixed Deposits?

Then what you need is a Sweep-In Facility on savings account. Link Fixed Deposit to

Savings or Current Account and use it to fall back on in case of emergencies. A deficit in

Savings or Current Account is taken care of by using up an exact value from Fixed

Deposit. Since deposits are broken down in units of Re 1/-, customer will lose interest

only for the actual amount that has been withdrawn.

.DEMAT ACCOUNT SERVICE

Nowadays share market is becoming is the main occupation of the person. So to avoid

faulty processes demat account is really most important for the share market and for the

safety of shares it is most important.

HDFC BANK is one of the leading Depository Participant (DP) in the country with over

8 Lac demat accounts.

HDFC Bank Demat services offers a secure and convenient way to keep track of

securities and investments, over a period of time, without the hassle of handling physical

documents that get mutilated or lost in transit.

HDFC BANK is Depository participant both with -National Securities Depositories

Limited (NSDL) and Central Depository Services Limited (CDSL).

WHOLESALE BANKING SERVICES:-

The Bank's target market ranges from large, blue chip manufacturing companies in the

Indian corporate to small & mid-sized corporate and agri-based businesses. For these

customers, the Bank provides a wide range of commercial and transactional banking

services, including working capital finance, trade services, transactional services, cash

management, etc. The bank is also a leading provider of structured solutions, which

combine cash management services with vendor and distributor finance for facilitating

superior supply chain management for its corporate customers. HDFC Bank has made

significant inroads into the banking consortia of a number of leading Indian corporates

including multinationals, companies from the domestic business houses and prime public

sector companies. It is recognized as a leading provider of cash management and

transactional banking solutions to corporate customers, mutual funds, stock exchange

members and banks.

RETAIL BANKING SERVICES:-

The objective of the Retail Bank is to provide its target market customers a full range of

financial products and banking services, giving the customer a one-stop window for all

his/her banking requirements. The products are backed by world-class service and

delivered to customers through the growing branch network, as well as through

alternative delivery channels like ATMs, Phone Banking, Net Banking and Mobile

Banking.

HDFC Bank was the first bank in India to launch an International Debit Card in

association with VISA (VISA Electron) and issues the MasterCard Maestro debit card as

well. The Bank launched its credit card business in late 2001. By March 2010, the bank
had a total card base (debit and credit cards) of over 13 million. The Bank is also one of

the leading players in the merchant acquiring business with over 70,000 Point-of-sale

(POS) terminals for debit / credit cards acceptance at merchant establishments. The Bank

is well positioned as a leader in various net based B2C opportunities including a wide

range of internet banking services for Fixed Deposits, Loans, Bill Payments, etc.

TREASURY:-

Within this business, the bank has three main product areas - Foreign Exchange and

Derivatives, Local Currency Money Market & Debt Securities, and Equities. These

services are provided through the bank's Treasury team. To comply with statutory reserve

requirements, the bank is required to hold 25% of its deposits in government securities.

The Treasury business is responsible for managing the returns and market risk on this

investment portfolio.

INTERNET BANKING SYSTEM SECURITY: -

LOGIN SECURITY: Access to customer's Net Banking account is granted using a

Customer ID and IPIN (internet banking password) that is privy to the customer. Without

a valid IPIN corresponding to the customer ID, access to customer account cannot be

gained by anyone.

The customer's Net Banking service is revoked if not in use by customer for more than

180 days for security.

IPIN SECURITY: IPIN is randomly generated by the system and directly printed on

tamper proof media such that it is not accessible by anyone other than the customer.

Customer is forced to change his IPIN such upon first login such that customer is assured
that IPIN is not compromised before delivery.

IPIN is stored by the Bank by use of encryption technology such that it is not accessible

to anyone including the system administrator.

SESSION SECURITY: Access to the customers are provided through a secure webpage

that encrypts the session between the customer's computer and the webpage using 128-bit

encryption so that the communication between the customer's computers and the

webpage cannot be intercepted by anyone over the internet.HDFC Bank systems time out

the customer's login sessions to his Net Banking account upon prolonged inactivity for

protection against misuse.

DIGITAL CERTIFICATE: The webpage of the HDFC Bank's internet banking

server is identified by means of a digital certificate provided by Verisign to ensure its

customer that they are on the correct site and protect themselves from revealing their

confidential account information on some fake website.

VIRTUAL KEYBOARD: Customer can use the feature of Virtual Keyboard while

logging into his Net Banking account. This protects the users IPIN from being

compromised by key logger software installed on untrusted/shared computers e.g. cyber

cafes.

INSTA ALERT: The Bank has Insta Alert service to send SMS/ Email alert to the

customer upon registration for defined transaction denominations and while adding

beneficiary/ies for carrying out Third Party Transfer transactions.

SECURITY SOLUTIONS: All banking systems are secured using state-of-the-art

security solutions acknowledged world wide viz, firewalls, intrusion detection systems,

intrusion prevention systems, anti-malware systems to extend secure banking services to

 our customers.

SECURITY TEAMS: The Bank has robust processes, skilled people and competent

service providers who monitor the security of our systems round the clock.

FINANCIAL INSTITUTIONS & TRUSTS

Banks.

Financial Institutions.

Mutual Funds.

Stock Brokers.

Insurance Companies.

Commodity Businesses.

Trusts.
 GOVERNMENT SECTOR

HDFC Bank acts as an active medium between the government and the customers by

means of various services. These services include:

Tax Collection wherein customers can directly pay their taxes like Direct taxes, Indirect

taxes and Sales Tax collections at their local HDFC Bank.

E-Ticketing - Helps the customer by providing him a direct access to book a Railway

Ticket online and get it home delivered.

Opening of L/C's is done by the bank on behalf of Government of India, Mints and

Presses, thus facilitating imports for the Government.

Collection of levies and taxes on behalf of Municipal Corporations i.e. Kalyan -Dombivli

Municipal Corporation, is undertaken by the Bank.

Collection of stamp duty is done via franking mode in the state's of Maharashtra &

Gujarat.

The Stamp Duty Franking Facility is available at following branches in Maharashtra Fort,

Chembur, Lower Parel, Mira Road, Thane (Talao Pali), Panvel, Ratnagiri, Pune(FC

Road), Kolhapur, Nagpur, Pimpri.

The Stamp Duty Franking Facility is available at following branches in Gujarat

Disbursement of Pension to retired Employees of Central Govt and Defence is directly

done by HDFC Bank along with the disbursement of pension to the members of EPFO

(Employees Provident Fund Organisation).

Electronic Collection of fees on behalf of DGFT is done by the bank too.

 ICICI Bank

Industry Banking, Financial services

Founded 1994
Headquarters Mumbai, Maharashtra, India
Area served Worldwide
Mr. M. K. Sharma (Chairman)
Key people
Mrs. Chanda Kochhar (MD & CEO)
Credit cards, consumer banking, corporate banking,

finance and insurance, investment banking, mortgage

Products
loans, private banking, wealth management, personal

loans, payment solutions.

Revenue US$10.3 billion (2016)
Operating income US$3.6 billion (2016)
Profit US$1.5 billion (2016)
Total assets US$109.0 billion (2016)
Total equity US$13.5 billion (2016)
Number of employees 74,096 (2016)
Website www.icicibank.com

ICICI BANK LTD.

ICICI Bank, a private sector bank under the house of ICICI was incorporated in

the year of 1994. It is a multi-specialist financial service provider with leadership position

across the spectrum of financial services in India. ICICI Bank is the 2nd largest bank in

India and Bank breaking into the top 100 financial institutions in the world, in terms of

market capitalization. It got this position in short time, because the bank doing what

customers want. ICICI running its business with six principal groups, such as Retail
Banking, Wholesale Banking, International Banking, Rural, Micro Banking and Agri-

Business, Government Banking and Corporate Centre. The Bank offers a wide spectrum

of domestic and international banking services to facilitate trade, investment banking

,Insurance, Venture Capital, asset management, cross border business & treasury and

foreign exchange services besides providing a full range of deposit and ancillary services

for both individuals and corporate through various delivery Channels and specialized

subsidiaries. ICICI Bank has 14 subsidiaries, out of that 10 in domestic and rest of 4 in

international level such as UK, Canada and Russia. To efficiently distribute its products

and services, the bank has developed multiple access channels comprising lean brick and

mortar branches, ATMs, call centers and Internet banking. The Bank has introduced the

concept of mobile ATMs in the remote/rural areas. It has also extended its mobile

banking services to all cellular service providers across India and NRI customers in USA,

UK, Middle-East and Singapore.

The merger and acquisition are the key kind to bank. The Bank of Madura (BOM)

got merged with ICICI Bank during the period 2000-01 and in 2001 ICICI (Financial

Institution) merged with ICICI Bank. The two subsidiaries of ICICI Ltd viz ICICI

Personal Financial Services and ICICI Capital Services were also merged with the ICICI

Bank on March 2002. During May,2003 the bank has acquired Transamerica Apple

Distribution Finance Private Ltd and renamed it to ICICI Distribution Finance Private

Limited which is primarily engaged in financing in the two-wheeler segment.

Bank received many awards and recognitions during the year 2005-06. Some of

them are Best Bank in India by Euro money, Best Integrated Consumer Bank Site in Asia

by Global Finance, Best Cash Management-Country Awards in India by The Asset and
Best Secondary Offering by Finance Asia. ICICI Bank noted as Bank of the year 2006

India by The Banker, it was a award to ICICI Bank at second time from last year. During

the year 2006-07 also Bank acquired the number of awards. Samples are, Best

Transaction Bank in India by Asset Triple AAA, Best Bank of the Year 2006 by Business

India, National Award for Excellence in Energy Management by CII and Excellence in

Multi Channel Distribution by Asian Banker.

As on April 2007 Sangli Bank Ltd was merged with ICICI Bank Ltd. In the

Wholesale Banking segment, the bank has achieved a significant milestone in the market

making activity by expanding the product suite to include foreign exchange options. As

on May 2007 the bank have market capitalization of Rs 77,834 crore. In 2007 June ICICI

Bank has entered into an agreement with networking solutions provider GTL Ltd to lease

out its call centre facility at Mayhap worth of around Rs 100 crore for a period of 25

years. In August of 2007 the bank has availed of a $200-million worth Line of Credit

(LoC) from The Export-Import Bank of Korea (Korea Exim bank) for the purpose of the

Hong Kong branch of ICICI Bank gets funds from Korea Exim bank, and the bank lends

foreign currency loans to domestic companies investing in Korea and the bank had taken

a similar LoC of $200 million from the Japan Bank for International Cooperation (JBIC)

last year. In 2008 ICICI Bank, come a cropper in the global stage when it comes to their

brand value, which is $2,603 million, it reveals by the study of London-based

consultancy Brand Finance.

 CHAPTER-3
OBJECTIVES OF THE
STUDY
 OBJECTIVES OF THE STUDY

To study about the factors that affects the customer perception towards Online
Banking of HDFC and ICICI bank.

To know about the current and future prospects of Online Banking to the
customers.

To find out the major problems faced by the customers while using Online Banking
services.

To study the consumer buying behavior towards ICICI Bank online Banking.

To study the consumer buying behavior towards HDFC Bank online Banking.

To study the level of customer satisfaction towards ICICI Bank online Banking.

To study the level of customer satisfaction towards HDFC Bank online Banking.

To study the procedure of online banking system.

To study the what are major problems faced by customer towards online banking.

 CHAPTER-4
RESEARCH
METHODOLOGY
 RESEARCH METHODOLOGY

Research is a common parlance which refers to search for knowledge. It is a procedure

of logical and systematic application of the fundamentals of science to the general and

overall questions of a study and scientific technique, which provide precise tools,

specific procedures, and technical rather philosophical means for getting and ordering

the data prior to their logical analysis and manipulating different type of research

designs is available depending upon the nature of research project, availability of

manpower and circumstances.

According to D. Slesinger and M. Stephenson research may be defined as the

manipulation of things, concepts or symbols for the purpose of generalizing to extend,

correct or verify knowledge, whether that knowledge aids in the construction of theory

or in the practice of an art. Thus it is original contribution to the existing stock of

knowledge of making for its advancement. In short, the search of knowledge through

objective and systematic method of finding solution to a problem is research.

RESEARCH DESIGN

A research design is the arrangement of conditions for collection and analysis of data in

a manner that aims to combine relevance to the research purpose with economy in

procedure. In fact, the research design is the conceptual structure within which research

is conducted. This research was descriptive in nature.

 The Research Methodology here includes:-
RESEARCH DESIGN : DESCRIPTIVE RESEARCH

SAMPLING DESIGN : SIMPLE RANDOM SAMPLE

SAMPLING UNIVERSE : LUCKNOW

SAMPLE SIZE : 100

DATA COLLECTION

INSTRUMENT : Questionnaire (Structured)

SAMPLE UNIT: various individuals who had their bank accounts

With HDFC and ICICI BANK.

DATA SOURCE : Primary & Secondary Sources

 CHAPTER-5

DATA ANALYSIS
&
INTERPRETATIONS
 DATA ANALYSIS & INTERPRETATION
Gender

Male 76
Female 24
Total 100

24%

76% Male
Female

Interpretation: The result shows that majority of respondents i.e. 76% are males
who are using the E-banking services and 24% are the female who are using E-
banking services. Female are not using this service because they have less knowledge
about the internet and they trust face to face interaction more. So it shows that E-
banking is more famous among male.
 Age
Age Total No.
Below 20 23
21-30 27
31-40 21
41-50 18
Above 50 11
Total 100

Chart Title

Below 20
11% 23% 21-30
18% 31-40
21% 27% 41-50
Above 50

Interpretation: The result shows that majority of respondents i.e. 27% falls under
the category of 21-30 years and 23% falls under below 20years it shows that E-
banking is mainly famous among youngsters as they are the major users of E-
banking and least comes under above 50years.
 OCCUPATION

OCCUPATION TOTAL NO.

Government 24
Private 27
Business 32
Others 17
TOTAL 100

Chart Title

Government
17% 25% Private

32% Business man

27%
Others

Interpretation: The result shows that majority of respondents that are using Ebanking
are Businessman i.e. 32% they are using E-banking services because it results in time
saving. And 27% respondents are working in private sector and 24% respondents are
working in government organizations and 17% are others which include students and
housewives they are using E-banking because it saves time and students they have
complete knowledge of internet.
INCOME
INCOME TOTAL NO.
Below 10,000 15
10,000-25,000 32
25,000-50,000 30
More than 50,000 23
TOTAL 100

Chart Title

Below 10000
23% 15% 10000-25000
32% 25000-50000
30%
Above 50000

Interpretation: The result of this study shows that 32% of the respondents who are using
E-banking fall under the income category of 10,000-25,000 and 30% falls under the
income category of 25,000 to 50,000 and 23% % falls under the income category of more
than 50,000 and 15% % falls under the income category of below 10,000.
Q-1) Do You Think E-Banking Services Is Necessary In Present Scenario?
YES 90
NO 10
TOTAL 100

Chart Title
10%
YES
NO
90%

INTERPRITAYION: To make work easiest e-banking facility are very useful and
necessary in present scenario.
Q-2) In Which Bank Do You Youre Your Account?

OPTION NO. OF RESPODENT

HDFC 16
ICICI 26
BOTH 58
TOTAL 100

16%

58% 26% ICICI

HDFC
Both

Interpretation: According to this study majority of respondents i.e. 58% have their
accounts in both the banks HDFC and ICICI bank and 16% respondents have their
account in ICICI Bank and 26% have their account in HDFC bank so it means a large no.
of respondents have Experience of both the banks.
Q-3) While Opening Up The Account, Were You Aware Of E-banking Services
Provided By Your Bank?
OPTION NO. OF RESPONDENT
YES 73
NO 27

Chart Title

27% Yes
No
73%

Interpretation: According to this survey majority of respondents i.e.73% were aware

about E-banking services provided by their bank and 27% of respondents were not aware
about the E-banking services provided by their bank at the time of opening up of their
account because of lack of awareness and some are using banking services from last so
many years at that time bank was not offering E-banking service so they were not aware
at that time but now they are aware.
Q-4) Are You Availing E-Banking Services?

Option No. of Respondent

Yes 88

No 12

Chart Title

12%
Yes
No
88%

Interpretation: The results show that 88% respondents who are aware of E-banking
they are availing E-banking services and 12% are not availing E-banking services
yet they are aware of E-banking the reason is that they still have faith in traditional
banking.
Q-5) Which of the Following E-Banking Services Is You Aware Of?

Options No. of Respondent

Internet Banking 14
Mobile Banking 28
Phone Banking 19
OnLine Banking 4
Debit Card 29
Others 6

Internet Banking
6% 14%
29% mobile Banking
28% Phone Banking
3%
19%
One Line Banking
Debit Card
Others

Interpretation: According to this study almost every customer is using more one E-
banking service and Debit Card is used by almost 95% of respondents and mobile
banking is used but 89% of respondents and 61% respondents are using phone banking
and only 1% are using one line banking this shows the trend that how customers are using
E-banking and among all the E-banking products debit cards are mostly used by
respondents because they are easy to use and do not require technical or computer
knowledge.
Q-6) What Do You Preface While Choosing E-Banking Services.?
OPTION NO.OF RESPONDENT

Good Services 42

Cost Charges 20

People References 27

Others 11

TOTAL 100

11%

42% Good Service

27% Cost Charges
People References
Others

20%

Interpretation: 63% people are prefer Good services then people references then cost
charges and last one is others. Its means that most of the people are want good services
in the comparison of cost charges. Means in present people are not much care about
service cost.
Q-7) To What Extent Is You Satisfied With Your Banks Banking Services?

E- banking services % OF RESPONDENTS

Highly satisfied (1) 51

satisfied (2) 28

Neutral (3) 4

Dissatisfied (4) 14

Highly dissatisfied (5) 3

TOTAL 100

Highly satisfied (1)

14% 3%
4% satisfied (2)
51%
28%
Neutral (3)
Dissatisfied (4)
Highly dissatisfied (5)

Interpretation: The most of the customers are really liked the facilities provided by
banks as hey strongly agree that the facilities are good for them so they like to avail the
E-banking services provided by the different banks and the result shows that 48%
respondents are highly satisfied with the e-banking services provided by their bank and
28% respondents are satisfied with the e-banking services provided by their bank and
14% respondents are dissatisfied with the e-banking services provided by their bank.
Q-8) which of the following benefits accrue to you, while
Using e-banking services?

Benefit Total No.

Time Saving 51
Inexpensive 29
Easy Processing 13
Easy Fund Transfer 7
Total 100

Chart Title

Time Saving
13% 7% Inexpensive
51% Easy Processing
28%
Easy Fund Transfer

Interpretation: Most of the respondents think that the major benefit from E-banking
services is time saving facility. Because the major problem which the respondents faced
is time problem so E-banking eases their lives and save their time so they like this facility
because of this facility.

Q-9) Which Type Of Problem Are You Facing While Using E-Banking Services.?
 OPTION %

More time taking in fund transfer 13

Slow speed in working 31

Critical Process 43

Not easy for non educated person 9

Others 4

Total 100

More time taking in

9% 4% 13% fund transfer
Slow speed in working
44% 31%
Critical Process
Not easy for non
educated person
Others

Interpretation: Not easy for Non Educated person option are choose by the most of
people because in India every person have a account but they are not well educated. So,
thats why this kind of problems are held by the most of peoples.

Q-10) you have a option to switch over your bank for using the e-banking service.
So, do you switch your bank?
 OPTION %

HDFC 42

ICICI 58

TATAL 100

42%
58%
HDFC
ICICI

Interpretation: Only 15-20 percent people are want to switch their bank for using e-
banking service. In this figure most are the customer are related to the ICICI bank. And
according to me the only reason are behind this is N on Educated person which they are
dont know knowledge about the E-banking processing.
 CHAPTER-6
PROBLEMS AND LIMITATIONS
 LIMITATIONS

This study will be limited to only some areas of Lucknow city

It is only for short period of time.
Lack of professional approach since researcher is a student.
The sample size is Limited.
The study suffered from time constraints as it is completed within the short period

of one months.
CHAPTER-7

FINDINGS
 Findings

E-banking constitutes services provided in terms of ATMs, Debit Card, Credit Card,

Phone Banking, Mobile Banking, Internet Banking etc, of which the first six have

been covered. Amongst these Debit Card scores the largest used service status (68%)

Close on the heels is Mobile Banking (64.66%), Phone Banking (44.66%), while

One Line banking lags behind by scoring the least ie.,0.08%.

To find out the level of usage amongst the business class, percentage has been

calculated from the total completely filled in questionnaires and the incomplete

questionnaires were discarded. The frequency of usage of Debit card is highest

followed by ATM.

A study of the factors, influencing the usage was made by listing out various

factors such as all time availability, ease of use, nearness etc., and amongst the

various factors status symbol is ranked as the major motivating factor, followed by

all time availability, friends, ease of use and direct access in decreasing order of

importance. Quite interestingly security symbol scored the least motivating factors.

When asked to list various benefits accruing from the usage of e-banking, time

saving received highest percentage score at 51.37% among different benefits such

as inexpensive (28.44%), easy processing (12.84%), easy fund transfer

(7.3%).Quite interestingly, easy processing feature scored more than the

inexpensiveness of the e-banking services. The other benefits accruing to the

people include ready availability of funds, removal of middlemen and no rude

customer relation executives.

 Among the users, various problems that are encountered while using e- banking

services. Firstly the y highly considered Difficulty in claiming false transactions are

major reasons that create hurdles in its usage, while card misplaced and misused,

password forgetting, time consumption and internet connectivity issue also

considered seem to be the least bothering problems.

From the non users, an attempt was made to elicit the reasons for its non usage.

most important factors which have been considered by customers who are not using e

banking services are no access to internet, mobile then hidden cost factor, followed

by dissatisfaction with traditional banking was considered as de-motivating factor,

followed closely by the fear of insecurity, then botheration factor, which suggested

their resistance to change, which to some extent can be countered by aggressive

advertisement and utilizing other modes of awareness dissemination a s well.

We easily from our interpretation find out that there is not at all as such

comparison between both the banks. As there are some of the services which are

equally good as the services of other bank. As the services of net banking is good in

HDFC as compare to ICICI. And if we compare the mobile banking services the n both

are at equally side. But if we compare the phone banking facility of both the

banks then ICICI provides totally satisfaction to their customers. So in findings we

cant say that overall which bank provides the satisfactory facility to their

customers only there is some services which is better of HDFC and some are

better of ICICI bank. Like out of most of respondents prefer the E-banking

services of HDFC and 50 respondents prefer the services of ICICI bank. So most
of the respondents considered the services provided by HDFC bank are better in respect

of ICICI bank
 CHAPTER-8

RECOMMENDATIONS
 RECOMMENDATION

We can see the time is changing and we the passage of time people are

accepting technology there is still a lot of perceptual blocking which hampers the growth

its the normal tendency of a human not to have changes work on the old track,

thats also one of the reason for the slow acceptance of internet banking accounts.

Banks should obey the RBI norms and provide facilities as per the norms, which are

not being followed by the banks. While the customer must be given the prompt

services and the bank officer should not have any fear on mind to provide the facilities

as per RBI norms to the units going sick.

Internet banking facility must be made available in all branches of these two

Banks.

Each section of these Banks should be computerized even in rural areas also.

Personalized banking should be given a thrust as more and more banks are

achieving in usual services.

Covering up the towns in rural areas with ATMs so that the people in those area s

ca n also avail better services.

Prompt dealing with permanent customers and speedy transactions without

harassing the customers.

Fair dealing with the customers. More contributions from the employees of the

bank. The staff should be co-operative , friendly and must be capable of

understanding the problems of the customers.

Give proper training to customers for using i-banking

Create a trust in mind of customers towards security of their accounts

 Provide a platform from where the customers can access different accounts at

single time without extra charge.

CHAPTER-9

CONCLUSIONS
 CONCLUSIONS

This study attempted to identify key quality attributes of internet banking services

by analyzing internet banking customers & their comments on banking experience.

The findings of this study show that despite of many advantages of online banking.

People still consider it as an alternative for analyzing their bank records. Although

every bank today provides the facility of online banking but most of people use it only

once a month. This reason is that in case of internet banking interpersonal interaction

with customers is seldom possible. Identification & measurement of customers

expectations of the internet banking services provide a frame of reference & their

relate d quality dimension. The main factors which persuade people to use online

banking are comfort & convenience & the facility which attracts them most is quality &

quantity of information. Therefore the implementation of quality initiatives should

begin with defining customers need & preferences & their related quality dimensions

There is still a lot needed for the banking system to make reforms and train

their customers for using internet for their banking account. Going through the

survey the main problem lies that still customer have a fear of hacking of accounts

and thus do not go on for internet banking. Banks are trying their level best by

providing the best security options to the customers but then to there is lot of

factors which betrays a customer from opening an internet bank account.

Banks a re providing free internet banking services also so that the customers can be

attracted. By asking the bank employs we came to know that maximum numbers

of internet bank account holders are youth and business man. E-Banking is an innovative
tool that is fast becoming a necessity. It is a successful strategic we upon for banks to

remain profitable in a volatile and competitive marketplace of today. If proper

training should be given to customer by the bank employs to open an account will be

beneficial secondly the website should be made friendlier from where the first

time customers can directly make and access their accounts. In future, the

availability of technology to ensure safety and privacy of e-transactions and the RBI

guide lines on various aspects of internet banking will definitely help in rapid

growth of internet banking in India.

BIBLIOGRAPHY
 BIBLIOGRAPHY

BOOKS
Agarwal, R., Raastogi, S., & Malhotra, A. (2009), Customers perspectives

regarding e-banking in an emerging economy, Journal of Retailing and

Consumer Services, Vol.16, Iss. 5, pp. 340-351

Asghar, O. (2004), Banking In a Cloud of Electrons.

Awamleh, R. (2006),Diffusion of Internet Banking amongst educated

consumers in a high income Non-OECD country, Journal of Internet Banking

and Commerce, Vol. 11, Iss. 3

WEBSITES

(http://www.icmrindia.org/free%20resources/casestudies/banking1.htm#b1

www.hdfcbank.com/

www.icicibank.com/

en.wikipedia.org/wiki/Perceptual mapping

www.rocw.raifoundation.org/fashion/BAfashion-mktg/brandpositioning/lecture-

notes/lecture-04.pd

en.wikipedia.org/wiki/Multidimensional scaling

JOURNALS

1. Khan, M.S., Mahapatra, S.S. and Sreekumar (2009) Service quality

evaluation in internet banking: an empirical study in India, Int. J. Indian

Culture and Business Management, Vol. 2, No. 1, pp.3046.

APPENDIX
 QUESTIONNAIRE
A. Personal Information

Name _____________ Gender_________

Age_____________

1. Do you think that E-banking services are necessary in present scenario?

(a) Yes (B) No
2. From which bank you are availing these services?
(a) SBI Bank
(b) PNB Bank
(c) HDFC Bank
(d) ICICI Bank
(e) Others (Please Specify)_______________________.

3. What do you prefer while choosing E-Banking services?

(a) Good service
(b) Cost charges
(c) People References
(d) Other (Please specify)_________________________.
4. In Which Bank Do You Have Your Account?
a. HDFC
b. ICICI
c. BOTH
5. While Opening Up The Account, Were You Aware Of E-banking Services
Provided By Your Bank?
a. YES
b. NO
6. Which Of The Following E-Banking Services Is You Aware Of?
a. Internet Banking
b. Mobile Banking
c. Phone Banking
d. One Line Banking
e. Debit Card

7. To What Extent Is You Satisfied With Your Banks Banking Services?

a. Highly satisfied
b. satisfied
c. Neutral
d. Dissatisfied
e. Highly dissatisfied
8. Which Of The Following Benefits Accrue To You, While Using E-Banking
Services?
 a. Time Saving
b. Inexpensive
c. Easy Processing
d. Easy Fund Transfer

9. Which Type Of Problem Are You Facing While Using E-Banking

Services?
a. More time taking in fund transfer
b. Slow speed in working
c. Critical Process
d. Not easy for non educated person
e. Others
10. You have a option to switch over your bank for using the e-banking
service. So, do you switch your bank?
a. HDFC
b. ICICI