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8/6/2019 ING Vysya Summer Training Report
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A PROJECT REPORT
On
Create Awareness of Banks Product offered
by ING-Vysya Bank in Bareilly
(4 May - 20 July)
SUBMITTED TO
In partial fulfillment of the requirement for the award of the
Post Graduate Program of
RESEARCH & BUSINESS ANALYTICS
From
EMPI Group of Institutions2008-2010
SUBMITTED BY
Mukhar Goel
Submitted to
Mr.David Easow
Director,VC-MaGtics
New Delhi
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ACKNOWLEDGMENT
The satisfaction Euphoria that accompany the
successful completion of any work would be
incomplete unless we mention the name of the
person, who made it possible, who constant guidance
and encouragement served as a beckon of light andcrowned our efforts with success. I consider it a
privilege to express through the pages of this report, a few
words of gratitude and respect to those who guided and
inspired in the completion of this project.
I am deeply indebted to Mr. Pankaj Sharma
(Branch Head) for giving me the opportunity to undergo
my project in their esteemed organization and the their
timely suggestions & Valuable guidance. I also want to
give thanks to
Mr. Arastu Sharma (Sales Manager). They constantly
encouraged me and showed the right path from day first
till the completion of my project.
I had visited almost all markets of Bareilly and
collected information of the project. I have also done
promotional activities under the constant guidance of my
project guide.
In the last but not the least, my grateful appreciation
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is also extended to Prof. David Easow (Head of RBA
Department), Ms. Varsha Solanki (Coordinator RBA
Department), Mr. Nishikant Bele (Faculty EMPI) andalso my thanks to all my faculties members, Parents and
friends.
However, I accept the sole responsibility for any
possible errors of omission and would be extremely
grateful to the readers of this project report if they bring
such mistakes to my notice.
MUKHAR GOELMUKHAR GOEL
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Preface
Decision-making is a fundamental part of the research
process. Decisions regarding that what you want to do,how you want to do, what tools and techniques must be
used for the successful completion of the project. In fact it
is the researchers efficiency as a decision maker that
makes project fruitful for those who concern to the area of
study.
Basically when we are playing with computer in every part
of life, I used it in my project not for the ease of my but for
the ease of result explanation to those who will read this
project. The project presents the role of financial system in
life of persons.
I had toiled to achieve the goals desired. Being a
neophyte in this highly competitive world of business, I
had come across several difficulties to make the
objectives a reality. I am presenting this hand carved
efforts in black and white. If anywhere something is found
not in tandem to the theme then you are welcome withyour valuable suggestions.
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DECLARATION
I hereby declare that the project entitled Create
Awareness of Banks Product offered by ING-Vysya
Bank in Bareilly submitted in partial fulfillment of the
requirements for the Post Graduate Program in Research
& Business Analytics is my original work and not
submitted for the award of any degree, fellowship,
diploma, or any other similar title or prizes.
An attempt has been made by me to provide all
relevant and important details regarding the topic to
support the theoretical edifice with concrete research
evidence. This will be helpful to clean the fog surroundingthe various aspect of the topic.
I hope that this project will be beneficial for the
Organization.
Place: BAREILLY (MUKHAR GOEL)
Date: June Roll No.: 9 Batch: 2008-2010
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TABLE OF CONTENTS
S.NO TOPIC PAGE
NO.1 Company Overview 72 Origin of ING Group 83 Company Profile 94 Mission 9
5 New Identity 106 Milestones in the journey of
ING-VYSYA bank
11
7 Balance-sheet 138 Profit & Loss Account 149 Cash Flow 1510 Board of Directors 16
11 Synopsis 1712 Facts about ING VYSYA 2013 Products 2214 Executive Summary 5415 Introduction of Banking Industry 5616 Training session on Selling Skills 6617 KYC 77
18 Research methodology 8019 Analysis of Data 8820 Conclusions &
Recommendations
94
21 Questionnaire 9822 Bibliography 102
6 6
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Company Overview
ING Vysya Bank Ltd., is an entity formed with the coming
together of erstwhile, Vysya Bank Ltd, a premier bank in
the Indian Private Sector and a global financial
powerhouse, ING of Dutch origin, during Oct 2002.
The origin of the erstwhile Vysya Bank was pretty humble.
It was in the year 1930 that a team of visionaries came
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together to form a bank that would extend a helping hand
to those who weren't privileged enough to enjoy banking
services.
It's been a long journey since then and the Bank has
grown in size and stature to encompass every area of
present-day banking activity and has carved a distinct
identity of being India's Premier Private Sector Bank.
In 1980, the Bank completed fifty years of service to the
nation and post 1985; the Bank made rapid strides to
reach the coveted position of being the number one
private sector bank. In 1990, the bank completed its
Diamond Jubilee year. At the Diamond Jubilee
Celebrations, the then Finance Minister Prof. Madhu
Dandavate, had termed the performance of the bank
Stupendous. The 75th anniversary, the Platinum Jubilee
of the bank was celebrated during 2005.
The origin of ING Group
On the other hand, ING group originated in 1990 from the
merger between Nationale Nederlanden NV the largest
Dutch Insurance Company and NMB Post Bank Groep
NV. Combining roots and ambitions, the newly formed
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company called Internationale Nederlanden Group.
Market circles soon abbreviated the name to I-N-G. The
company followed suit by changing the statutory name toING Group N.V..
Profile
ING has gained recognition for its integrated approach of
banking, insurance and asset management. Furthermore,
the company differentiates itself from other financial
service providers by successfully establishing life
insurance companies in countries with emerging
economies, such as Korea, Taiwan, Hungary, Poland,
Mexico and Chile. Another specialization is ING Direct, an
Internet and direct marketing concept with which ING is
rapidly winning retail market share in mature markets.
Finally, ING distinguishes itself internationally as a
provider of employee benefits, i.e. arrangements of non
wage benefits, such as pension plans for companies and
their employees.
Mission
ING`s mission is to be a leading, global, client-focused,
innovative and low-cost provider of financial services
through the distribution channels of the clients preference
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in markets where ING can create value.
The new identity
The immediate benefit to the bank, ING Vysya Bank, has
been the pride of having become a Member of the global
financial giant ING. As at the end of the year December
2008, ING's total assets exceeded 13.31 billion euros,
employed over 125000 people, served over 85 million
customers, across 50 countries. This global identity
coupled with the back up of a financial power house and
the status of being the first Indian International Bank,
would also help to enhance productivity, profitability, to
result in improved performance of the bank, for the benefit
of all the stake holders.
Milestones in the long journey ofING-VYSYA
Bank
1930 Set up in Bangalore1948 Scheduled bank
1985 Largest private sector bank1987 The Vysya Bank Leasing
Ltd .Commenced
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1988 Pioneered the concept of
Co branding of credit Cards
1990 Promoted Vysya Bank
Housing Finance Ltd.1992 Deposits cross Rs.1000
crores1993 Number of branches
crossed 3001996 Signs Strategic Alliance with
BBL.,Belgium. Two National
Awards by Gem & Jewellery
export Promotion council for
excellent performance in
export promotion.1998 Cash Management Services
& commissioning of VSAT.
Golden Peacock Award-for
the best HR Practices by
Institute of Directors. Rated
as Best Domestic Bank in
India by Global
Finance(International
Financial Journal-June
1998)2000 State-of-the-art Date Centre
at ITPL, Bangalore.
RBI clears setting up of ING
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Vysya Life Insurance
Company
2001 ING-Vysya commenced life
insurance business.2002 The Bank launched a range
of products & services like
the Vys Vyapar Plus, the
range of loan schemes for
traders, ATM services,
Smartserv, personal
assistant service, Save &
Secure, an account that
provides accident
hospitalization and
insurance cover,
Sambandh, the International
Debit Card and the mi-bank
net banking service.2002 ING takes over the
Management of the Bankfrom October 7th , 2002
2002 RBI clears the new name of
the Bank as ING Vysya
Bank Ltd, vide their letter of
17.12.02
2003 Introduced customer friendly
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products like Orange
Savings, Orange Current
and Protected Home Loans2004 Introduced Protected Home
Loans - a housing loan
product2005 Introduced Solo - My Own
Account for youth and
Customer Service Line
Phone Banking Service2006 Introduced Solo - My Own
Account for youth and
Customer Service Line
Phone Banking Service
Balance sheet of ING-VYSYA Bank Ltd. for the
year ended 31 March 2008
(Rs.i
n crores)
Mar08 Mar07 Mar06
Sources of fundsOwners fund
Equity share capital 102.47 90.90 90.72
Reserves and surplus 1323.67 901.60 817.41
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Profit & loss account of ING-VYSYA Bank Ltd.
(Rs in
crores)
Mar08 Mar07 Mar06Income
Operating Income 1983.64 1537.22 1321.24
Expenses
Personnel
expenses
302.39 238.48 234.19
Selling Expenses 4.28 3.49 5.36Administrative
expenses
299.90 296.56 295.43
Cost of sales 606.56 538.53 534.98
Operating profit 195.03 139.38 45.01
Other recurring
Income
121.62 56.87 31.56
Adjusted PBDIT 316.66 196.26 76.57
Financial
expenses
1182.05 859.31 741.25
Depreciation 38.93 37.98 37.20Other write offs Nil Nil Nil
Adjusted PBT 277.72 158.27 39.37Tax charges 94.53 38.72 12.46
Adjusted PAT 151.57 83.92 6.01Non-recurring
items
3.38 4.99 3.05
Reported net
profit
154.95 88.91 9.06
Earnings before 173.39 90.20 -25.55
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appropriation
Equity dividend 15.37 5.91 Nil
Preference
dividend
Nil Nil Nil
Dividend Tax 2.61 1.00 Nil
Retained
earnings
155.41 83.29 -25.55
Cash flow
(Rs in crores)
Mar08 Mar07 Mar06
Profit before tax 251.46 127.63 21.52Net cash flow-
operating activity
1426.23 308.12 -202.67
Net cash used in
investing activity
-35.55 -17.62 -74.90
Net cash used in 202.38 177.87 286.41
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financial activity
Net
increase/decrease
in cash and
equivalent
1593.06 468.37 8.84
Cash and
equivalent at the
beginning of the
year
1591.70 1123.33 1114.50
Cash and
equivalent at the
end of the year
3184.76 1591.70 1123.33
Board of Directors
S.no. Name of the person Designation
1 Aditya Krishna Director 2 Arun Thiagarajan Director
3 K R Ramamoorthy Director
4 K R V Subrahmanian Director
5 M Damodaran Non-Executive
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and Non
Independent
Director6 Philipee Damas Additional Director 7 Ramakrishnan Subramanian Director
8 Richard Cox Additional Director 9 Ryan Andrew Padgett Director
10 Santosh Ramesh Desai Additional director 11 Vaughn Nigel Richtor Managing Director
and Chief
Executive Officer
12 Wilfred Nagel Additional Director
Synopsis
Title Awareness of ING-VYSYA in Bareilly
Objective To do the market analysis of the Bareilly city
and to make aware the people of Bareilly about ING Bank
Null Hypothesis (H0). ING Bank is not better than other
banks present in Bareilly.
Alternate Hypothesis (H1). ING Bank is better than other
banks present in Bareilly.
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Research technique
Conclusive research
This type of research helps in reaching certain
conclusions and also in taking decisions.
Some facts about ING-Vysya bank
ING-Vysya bank branches works on profit centre
Around 500 branches in India and 13 in Uttar-
Pradesh.
Bank
20 20
Assets Liabilities
A thing for which
one is responsible
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Fee Income Products
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A thing owned by
a someone
having somevalue
CASA OthersTD/FD
Current
account
Savings
account
Fixed
Depoits
Term
deposits
Fee Income
products
Lockers
Life Insurance General
Insurance
Mutual Funds Portfolio
management
service
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Products
Orange Savings Bank Account
Key Features:
Quarterly Average Balance (QAB) of Rs. 5000/-
Free issue of the International Debit Card.
Shopping convenience at over 2 Lakh merchant
locations, with the ING Vysya International Debit
card.
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Demataccount
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Free Unlimited ATM transactions at over 25,000
(Cirrus/Cash net) ATM's in India, where QAB is
maintained.
Free Unlimited ATM transactions at over 196 ING
Vysya ATM's.
Free 2 Demand Drafts with a value not exceeding
Rs. 50,000 per annum, where the QAB is maintained.
Free Unlimited usage of payable at par (PAP)Cheques.
Free Transfer of funds across all branches.
Free National Electronic Funds Transfer (NEFT)
through the internet banking channel.
Free Electronic Bill Payment service
Free Smartserv - Personal Assistance Service
Free Statement of Account through E-mail.
Free Mi-b@nk - Internet banking facility.
Free RTGS (Real Time Gross Settlement)
transactions at all branches.
Free AAA Cash deposit (Customers) - Free up to 2
transactions per month and a value limit of Rs.
50,000/-.
Free Up gradation from any other savings account of
the Bank to the Orange Savings Account at no
additional cost.
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Benefits:
Free unlimited access to 25,000+ other bank ATMs -
enhanced accessibility.
Free Multi branch, Multi-city banking convenience.
Payable at par Cheques.
Smartserv Personal Concierge Services
Eligibility:
Individuals above the age of 18.
Upwardly mobile tech savvy professionals,
entrepreneurs in metros and urban areas.
Guardians on behalf of minors.
Salaried individuals.
Trusts / Societies and Charitable Institutions
Advantages Salary Account
Key Features:
Zero Balance Account.
Free Unlimited ATM transactions on the ING Vysya
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AAA Cash deposits are restricted to two transactions
with a value not exceeding Rs. 50,000/- per month.
Benefits:
The quarterly average balance of Rs. 5000/- is
waived as long as the employee is employed with the
corporate. (Zero Balance Account). Enhanced Accessibility - Unlimited access to ING
Vysya and Corporation Bank ATMs and 6
transactions at Cirrus ATMs per month.
Free multi-city, multi-branch banking convenience.
Minimum documentation supported by an official
communication from the corporate.
No restriction in the number of transactions in the
account
Eligibility:
The minimum number of employees of the corporate,
whose salary accounts are to be opened, should be
10.
The average salary credit in to the employees
orange salary account should be equal to or higher
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than Rs. 10,000/- per month.
Where there is a joint account holder, the normal
KYC norms need to be adhered to for the joint
account holder
Preferably corporate to have a current account with
ING.
Orange Salary Account
Key Features:
Zero Balance Account. (QAB requirement of Rs.
5000/- reduced to zero)
Free Unlimited ATM transactions on the ING Vysya
ATM network and Corporation Bank ATM
network.
Free unlimited ATM transactions at 25,000 (Cirrus)
ATMs.
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Free ING Vysya International Debit Card
Re-issue charged at Rs. 200/- per request.
Shopping convenience at over 200,000 merchant
locations.
Free issue and unlimited usage of Payable at Par
cheque books.
Free transfer of funds across all the branches of ING.
Free Personal Assistance Service - Smartserv at
select centres.
Free Bill Pay service at select centres.
Free statement of account through e-mail.
Internet banking facility. (Mi-b@nk)
Free Customer Service Line.
Free joint account status with one other family
member.
Adhoc Checkout* (Temp Overdraft) to an extent of 50
% of the last salary credit charged at 18 % for the
number of days overdrawn. Service Charge of
Rs.100/- for every month that the account is
overdrawn.
Free for life Credit Card based on Customers
eligibility
AAA Cash deposits are restricted to two transactions
with a value not exceeding Rs. 50,000/- per month
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Benefits:
The quarterly average balance of Rs. 5000/- is
waived as long as the employee is employed with the
corporate. (Zero Balance Account).
Enhanced Accessibility - Unlimited access to ING
Vysya, Corporation Bank and Cirrus ATMs
Enhanced Accessibility - Unlimited access to ING
Vysya, Corporation Bank and Cirrus ATMs
Minimum documentation supported by an official
communication from the corporate.
No restriction in the number of transactions in the
account.
Privileged Customer status for retail loan products.
Eligibility:
The minimum number of employees of the corporate,
whose salary accounts are to be opened, should be
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20.
The average salary credit in to the employees
orange salary account should be equal to or higher
than Rs.20,000/- per month.
Where there is a joint account holder, the normal
KYC norms need to be adhered to for the joint
account holder.
Preferably corporate to have a current account with
ING.
Solo Savings Account
Key Features:
Quarterly Average Balance - Rs. 500/- to be
maintained in the account.
Penalty for non-maintenance of QAB will be Rs. 150/-
per quarter.
Free International Debit Card, above 18 years of age,
which affords shopping convenience at over 90,000
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shopping outlets across the country.
Free & unlimited access to all ING ATM's.
Free 30 transactions per annum at HDFC & Corp
Bank ATM's.
Free Multi branch, Multi-city banking convenience.
Free Fund transfers within the Profile network
through E-banking channels.
Internet Banking through Mi-b@nk.
Free access to the Customer Service Line.
Personalized Chequebook above 18 years of age.
Smartserv & SMS Alerts at Rs. 100/- per annum.
No restriction in the number of transactions in the
account. Bill Pay facility.
Financial transactions at the branch will be charged
at Rs. 50/- per transaction.
In the course of normal operations, if the account is
overdrawn, interest will be charged at 13 % per
annum, for the number of days overdrawn.
Demat Account for electronic storage of shares.
Benefits:
Student's first initiation into empowered banking -
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Mi-b@nk - Internet banking facility
Customer Service Line facility
Conversion from other type of accounts to the
Freedom Savings Account is not allowed.
Annual Maintenance Charge of Rs.1000/- + taxes to
be collected in advance, upfront from the Customer
every year.
Benefits:
Customers can use up to the last penny in their
account.
No unexpected service charges for non-maintenance
of balances.
Free limited access to over 20,000+ other banks
ATM's every month - enhanced accessibility.
Free Multi branch, Multi-city banking convenience.
Eligibility:
Individuals above the age of 18.
Upwardly mobile tech savvy professionals,
entrepreneurs in metros and urban areas.
Guardians on behalf of minors.
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Salaried individuals.
Trusts / Societies and Charitable Institutions
General Savings Account
Key Features:
Quarterly Average Balance of Rs. 5000/- to bemaintained in the account.
Service charge for non-maintenance of the quarterly
average balance is Rs. 200/- + taxes per quarter.
Free Unlimited ATM transactions on all ING Vysya
ATM's.
Shopping convenience at over 200,000 merchant
locations, with the ING Vysya International Debit
card.
Free International Debit Card for the first year, with a
renewal fee of Rs. 150/- from the second year.
Free Electronic Bill Payment service -at select
centres.
Free Transfer of funds across all networked
branches. (AAA Banking)
Free Statement of Account through E-mail at no
charge.
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Free issue of Personalized chequebooks.
Mi-b@nk - Internet banking facility.
Free Customer Service Line facility.
Benefits:
Basic banking account without any frills.
Service charge for non-maintenance of QAB is only
Rs. 200 + taxes per quarter.
Free Multi branch, Multi-city banking convenience.
Eligibility:
Individuals above the age of 18.
Upwardly mobile tech savvy professionals,entrepreneurs in metros and urban areas.
Guardians on behalf of minors.
Salaried individuals.
Trusts / Societies and Charitable Institutions.
Saral Savings Account
Key Features:
Quarterly Average Balance of Rs. 200/- to be
maintained in the account.
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Penalty for non-maintenance of QAB will be Rs. 45/-
per quarter.
Free issue of personalized chequebook.
Free 4 Cash transactions per month at the base
branch through withdrawal slips.
Over and above 4 transactions per month, every
additional transaction during the month will be
charged at Rs. 20/- per transaction. Free annual Statement of Account.
Additional value added services at a cost:
Debit Card - Rs. 100/- per annum.
Internet Banking - Rs. 100/- per annum.
Customer Service Line - Rs. 100/- per annum.
All AAA cash deposits and withdrawals are charged
at Rs. 50/- per transaction.
Adhoc / Additional statement of accounts will be
charged at Rs. 50/- per transaction.
Up gradation from any other savings account of the
Bank to the Orange Savings account at no additional
cost.
Benefits:
Very low quarterly average balance.
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Basic banking facilities - with a view of financial
inclusion.
For the reach of banking facilities to a vast section of
the population.
Benefits of technology extended at a negligible cost
Eligibility:
Individuals above the age of 18.
Customers at Rural & Semi Urban locations.
Guardians on behalf of minors.
Any individual.
Trusts / Societies and Charitable Institutions.
Formula Savings Account
International Debit card
Recognized the world over
The ING Formula debit card is accepted at over 23
million* merchant establishments worldwide,
including 1,10,000* merchant establishments in India
(*information basis MasterCard)
Race anytime, anywhere
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Now you dont need to carry around large amounts
of cash to shop, travel or entertain. Whether your
purchase is planned or on impulse, all you need isyour ING Formula debit card
Easy pit stops
Need cash? Just step into any one of our ATMs or
member ATMs and withdraw cash up to Rs. 50,
000/- a day from ING ATM
Whats more, utilize this facility at over 25,000 ATMs
across the country, free of charge.
Safety Car
The debit card in your hands is the safest way to
transaction
Special Benefits card
Fuel Gauge
Fill fuel across any petrol pump in India and get
the 2.5% surcharge waived
Speed Lap
Shop using your ING Formula savings account
and get Formula One merchandise. Refer to the
rewards catalogue in your usage guide.
Depending upon which item you are interested in
use your ING Formula debit card to shop for the
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required amount fill in the details on the form and
send it to us for us to send you the Formula One
merchandise absolutely free.
Race Day
Whenever there is a Formula 1 race anywhere in
the world, there is a race for you as well. Shop
using your ING Formula debit card on the day of
the race and top 25 spenders for the race day wins
vouchers from ING
3 winners Gift vouchers worth Rs 5000/-
10 runner ups Gift vouchers worth Rs 2000/- 12
second runner ups Gift vouchers worth Rs
1000/-
12 second runner ups Gift vouchers worth Rs 1000/-
Benefits
1) Formula 1 International Debit card
2) Free Payable at Par cheques
3) Exclusive F1 themed, Internet Banking services
4) Free sms alerts on transactions above Rs1,500
Eligibility
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Individuals above the age of 18.Guardians on behalf
of minors.
Guardians on behalf of minors.
Salaried individuals.
Average Quarterly balance amount of Rs25000/- to
be maintained
ING Positive LifePositive Life is a non-medical unit linked insurance plan
for just Rs. 834/-* per month. Now you can meet all your
personal goals and aspirations with ease. With ING Life
Insurance you can truly experience the joy of living a
positive life.
Key Benefits of Positive Life:
Avail the benefits of Systematic Investment by
paying your premiums at pre-determined intervals.
Convenient policy terms of 10, 15 and 20 years
allow you to match your life goals to the policy terms.
Free Unlimited ATM transactions in over 25,000
(Cirrus) ATMs in India.
Flexible premium paying terms allows you to
choose the period you wish to pay, starting from a
minimum of 3 years.
Choice of flexible investment options based on
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individual risk preferences.
Simple documentation and easy processing of the
policy.
Key Benefits
Limited Premium Payment
Flexible investment options
Systematic Investment benefit
Eligibility
Minimum entry age: 0 years
Maximum entry age: 50 years
Policy Term
Policy term can be 10, 15 or 20 years
Premium Payment Terms
Minimum of 3 years upto the policy term
ING Platina & ING Formula Savings
Accounts
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Details
Service Charges/Amount
ING PlatinaAccount
ING Formula
Savings
Account
Quarterly Average Balance (QAB*) Requirement
1.Requirement to
maintain Platina
status
2.Requirement to
avoid non-
maintenance
charges
3.*Quarterly
Average
Balance(QAB)
Requirement
Rs.1,00,000/-
Rs.5,000/-
NIL
NIL
NIL
Rs.25,000/-
Service Charges for Non-Maintenance of Quarterly Average
Balance (QAB)
1.First two calender
quarters if QAB > =
Rs. 5,000/-
2.First two calender
quarters if QAB 1500000 2
Table 15: Categorization of respondents on the basisof Education
96
Under-Graduate 5
Graduate 85Post-Graduate 10
96
2
25
65
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Table 16: General impression of the respondents
about
ING-Vysya Bank
High Quality services &
Reliability
5
Average quality services
& Dependability
90
Low quality services & 5
97 97
5
85
10
UG
Graduate
PG
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4. The network of ING in Bareilly is lagging behind a
little than its competitors like ICICI bank and HDFC
bank.5. It can be distilled from data that ING bank has good
market share as compared to its competitors
considering the amount of resources deployed by
them in the market.
6. It has a very good potential to have the new
customers especially the youth because it has the
Formula a/c, which is very much liked by the youth in
the other cities.
7. Most of the residents of Bareilly dont know about the
establishment of ING-Vysya Bank in Bareilly.
8. Most of the persons having contacts in big cities
know about ING-Vysya Bank very well and also the
products.
9. ING-Vysya Bank is providing more facilities to its
customers in comparison to other banks such as
hospital scheme, investment scheme etc10. Locker facilities in ING-Vysya Bank are more
modernized in comparison to other banks.
11. Commercials of ING-Vysya Bank have a very
deep impact on the minds of people. Even they can
remember the name after the 15 days of the telecast
of the commercials on television.
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12. Operating time for cash counter is from 10 in the
morning till 6 in the evening. This is much more than
any other bank in Bareilly.13. ULIP plans are beneficial from the long-term
perspective whereas customer should invest in
mutual funds if he wants quick returns.
14. Most of the market is still unaware about the ULIP
plans and hence by making proper promotional
strategy companies can increase there sales.
Findings
1.ING bank has potential a tapped market in Bareilly
and hence has opportunities for growth.
2.The products of ING bank have good credibility in the
region compare to its competitors.
3.The advertisement of the bank was very effective
from the first day of its airing till the fifth day and there
after it starts declining.
4.The initial balance for A/C opening is Rs, 5000/- and
thats why people are reluctant in opening the same.
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5. ING is very much compliance to follow the KYC
norms.
6. The size of the locker provided by the ING-VysyaBank is big in size as compared to other
banks.
7. The residents of Bareilly like the products of ING-
Vysya Bank. Most of them need some change. So, they
can be the new potential customers for ING Bank.
8. Even today, the people of Bareilly believe in the
government banks. For them, ING Bank is a private bank.
Recommendations
1) More resources should be allocated in the market of
Bareilly as there is big untapped market in Bareilly, so it
becomes necessary for ING bank for taking an edge over
the competitors.
2) A short advertising campaign in Bareilly has produced
good results in a short span of times, so to gain long term
benefits is very necessary for ING bank to carry on thiscampaign with more intensity.
3) Besides opening more branches it should also look for
opening some extension counter in D.D.Puram.
4) As a number of colleges are going to be opened in
Bareilly in the next few years, so ING should try to gain
some contacts with these colleges.
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5) Most of the people in Bareilly wants that they should not
stand in queue in bank . If we can convince them on this,
than this can open a vast potential market for ING Bank inBareilly.
6) The cash withdrawal time can be one of the aspects to
gain popularity in Bareilly.
7) The benefits provided by the ING Bank to its customers
should be advertise so that people can understand that
customers satisfaction is the main aim for the persons
working in ING.
8) The businessman should be convinced on the cash
operating time. This makes ING to tap the huge market of
Bareilly.
LIMITATIONS
1. The sample size is very less, hence the responses of
just 100 respondents does not imply for the complete
population.
2. There was lack of time and resources that prevented
from carrying out an in depth study.
3. The findings of the survey are based on the subjective
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500000-1000000
>1500000
9)Your current Bank __________________________
10) What products/services you are presently availing
Saving a/c Mutual Fund
Current a/c SIP
FDR Equity
Life Insurance Lockers
Demat a/c Credit card
Loans
11) How happy you are with the services provided by
your existing bank.
Highly satisfied
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Satisfied
Neither satisfied nor dissatisfied
Dissatisfied
Highly dissatisfied
12) Before this survey, how often had you heard of
ING Vysya Bank Ltd.
Ive never heard before
Ive seen or heard a few times
I see or hear frequently
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If yes, then please specify
_____________________________
16) What kind of banking services you generally wish
to use
High priority services
Preferred services
Normal services
17) In which form of investment you invest the most
FDR Equity
Mutual Funds Shares
SIP Gold
Life Insurance Government
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preferences (Please rate on 1-5 scale)
Safety/Security
Operating Time
Rental/Safety charges
Locker Size
Parking Space outside Bank
21) Please give us some references
______________________________________________
____________________________________________________________________________________________
______________________________________________
______________________________________________
______________________________________________
______________________________
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BIBLIOGRAPHY
1) www.ingvysyabank.com
2) www.google.com3) R.S. Sharma, Business statistics, First India Print,
India, 2004,
4) Aaker Kumar and Day, Marketing research, 6th
Ed.,john willy & sons,1997.
5) ICFAI Journal of Banking
6) The Economics times
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7) The Times of India
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