SUMMER TRAINING REPORT ON

Customer Satisfaction

Undertaken at

ING Vysya Bank

Submitted in partial fulfilment of the requirements for the award of the degree of

MASTER OF BUSINESS ADMINISTRATION

to

Guru Gobind Singh Indraprastha University, Delhi

Under the Guidance of Submitted by

Ms. Yamini Saraswat Sakshi behlAssistant Professor MBA-III Semester PMCC Enrolment No.:

Session 2013 14

PERIYAR MANAGEMENT AND COMPUTER COLLEGEPeriyar Centre, FC33, Plot No. 1&2, Institutional Area, Jasola, New Delhi 110025CONTENTS

ChapterParticular(s)Page No.

Certificate-1

Certificate-2 company

Summer Training Appraisal Form

Acknowledgements

Executive Summary

1Introduction

2Literature Review

3Research Methodology

4Data Reduction, Presentation & Analysis

5Data Interpretation

6Summary & Conclusions

References/ Bibliography

Appendices

- List of Tables

- List of Figures

ACKNOWLEDGEMENT

If words are considered to be signs of gratitude then let these words Convey the very same. My sincere gratitude to Mr. Abhishek Gupta junior manager, ING VYSYA BANK and giving necessary directions on doing this project to the best of my abilities.

I am highly indebted to Mr. Ajay Yadav, Branch Manager, who provided me with the necessary information and also for the support extended out to me in the completion of this report and his valuable suggestion and comments on bringing out this report in the best way possible.

I am especially thankful to the Director of our college Dr. S. Aramvalarthan and faculty in charge Mrs.Yamini Saraswat for the valuable guidance and co-operation throughout the project. I am also thankful to those customers of the company who have helped me through their valuable feedbacks and without whom the research report was not possible. The customers were the respondents in this project and they have answered the questions very well which have helped me in finding suitable outcome.

EXECUTIVE SUMMARY

This project is based on the customer satisfaction level of the services provided by the ING Vysya bank.Its not less than any challenge to know about the customers satisfaction for a service but through this project, company has tried to know the point of view of customers. ING Vysya believes that every service they provide to their customers is satisfactory for every customers and the customers are happy with the quality as well as after work service of the bank. Still the company want o knows the level of satisfaction in customers, so this research through questionnaire and telephonic interviews has been done.The report contains the organizational study done at ING Vysya Bank. The report title is CUSTOMER SATISFACTIONThe report gives an overview of the banking Sector and company profile. And awareness of customers about different types of products and services offered by ING Vysya Bank.This study was conducted to find out the customer satisfaction regarding ING Vysya bank.The methodology adopted for the study was through a structured questionnaire, which is targeted to the different persons in Delhi. For this purpose sample size of 100 was taken. The data collected from the different persons was analyzed thoroughly and presented in the form of charts and tables.ING Vysya Bank must advertise regularly and create brand value for its products and services. Most of its competitors like ICICI, Axis, kotak Mahindra and nationalized banks use television advertisements to promote their products. The Indian consumer has a false perception about private banks they feel that it would not be safe.Safety and returns are the two main reasons people invest in banks. On the whole ING Vysya bank is a good place to work at. Every new recruit is provided with extensive training on the products of ING Vysya Bank. This training enables an advisor/sales manager to market the policies better. The company should try to create awareness about itself in India. . With an improvement in the sales techniques used, a fair bit of advertising and modifications to the existing product portfolio, ING Vysya Bank would be all set to capture the banking market in India as it has around the globe.The project is based on the thorough study of the products and services of ING Vysya Bank and the marketing strategies adopted by the ING Vysya bank to maintain & increase its market share & to retain its customers. The project undertake the study of the expectations, behavior, responses and preferences of the customers towards savings account.

The project has some limitations too, ING Vysya bank has a very few branches, customers have limited information about the bank and they have fewer banking products as compared to the other private banks. Ing Vysya bank doesnt provide ATM services to its customers and the customers are biased and were not interested in giving information easily. The research is done in the area of Delhi only and the time of the study is six weeks.

CHAPTER -1 INTRODUCTION

1.1 INTRODUCTIONBanking system of a nation is the shadow of nations economy. A healthy and profitable banking system is just like the backbone of nations economy. It is necessary for a nation to achieve growth and remain stable in this global world and global economy. The Indian banking system, with one of the largest banking networks in the world, has witnessed a series of reforms over the past few years like the deregulation of interest rates, dilution of the government stake in public sector banks (PSBs) and the increased participation of private sector banks. Customer satisfaction refers to how satisfied customers are with the products or services they receive from a particular agency. The level of satisfaction is determined not only by the quality and type of customer experience but also by the customers expectations.A customer may be defined as someone who

has a direct relationship with, or is directly affected by your agency and

Receives or relies on one or more of your agencys services or products.

Customers in human services are commonly referred to as service users, consumers or clients. They can be individuals or groups. An organization with a strong customer service culture places the customer at the center of service design, planning and service delivery. Customer centric organizations will:

Determine the customers expectations when they plan listen to the customer as they design.

Focus on the delivery of customer service activities value customer feedback when they measure performance.

There are a number of reasons why customer satisfaction is important in Banking Sector:

Meeting the needs of the customer is the underlying rationale for the existence of community service organizations. Customers have a right to quality services that deliver outcomes. Organizations that strive beyond minimum standards and exceed the expectations of their customers are likely to be leaders in their sector.

Customers are recognized as key partners in shaping service development and assessing quality of service delivery.

The process for measuring customer satisfaction and obtaining feedback on organizational performance are valuable tools for quality and continuous service improvement

A customer may be satisfied with a product or service, an experience, a purchase decision, a salesperson, store, service provider, or an attribute or any of these. Customers are the best source of information. Whether to improve an existing product or service or whether firms are planning to launch something new. This study focuses on how to attract more customers by fulfilling their requirements and satisfying their needs. All the customers demand different things and get satisfaction with different services; the research will help the company to find out the ways to satisfy the customers. With the use of questionnaire, the study will provide suitable results for interpretation. Businesses survive because they have customers who are willing to buy their products or services. However, many businesses fails to check in with their customers to determine whether they are happy or not and what it will make to make or keep them happy.Every organization wants to retain their existing customers and focus on new customers. When a company measures customer satisfaction, it helps them to know how much successful is the organization in providing their goods and service in market. Satisfaction of customers and requirement of customer vary person to person and product/service to product/service. The state of satisfaction depends on a number of both psychological and physical variables which correlate with satisfaction behaviours such as Quality and after sale service. The level of satisfaction can also vary depending on other options the customer may have and other products against which the customer can compare the organization's products.The telling factor in the companys long run fortunes will be the amount of customer satisfaction that it managers to generate. But it doesnt not mean the companys sole aim is to maximize Customer Satisfaction. If that where the case, it should simply put out the best product and service in the world and price is below cost. There by it would be creating substantial customer satisfaction. But in the long run it would be also be out of business. Customer Satisfaction like happiness bet achieved by rendering substantial forma of assistance to others rather than by direct pursuit

These four factors will greatly affect ability to build a loyal customer base:1. Products that are highly differentiated from those of the competition.2. Higher-end products where price is not the primary buying factor.3. Products with a high service component.4. Multiple products for the same customer.

1.2 Objectives of the Study

To know the customer satisfaction level and their perception regarding ING Vysya Bank.

To know the customer awareness regarding the Banks products.

To know the level of interest of customer regarding the different schemes of bank.

To know the preference of customer regarding the extra services.

To know the problems of customer regarding bank.

1.3 Scope Of Study The scope of any study can be defined in terms of the area and the sample size which will be reviewed for satisfying the objective of the subject matter. The first part of the report can be made on the basis of the secondary data collected about the different saving bank accounts of private sector banks present in Delhi via internet, magazines and journals.The scope of the study is in Delhi, and around 100 people are targeted for the survey which is done through questionnaire.

1.4 Company Profile1.4.1 ING Vysya Bank LimitedRegd. Office: ING Vysya House, 22,MG Road, Bengaluru 560001Phone No: 2500 5000

Corporate Identity Number:L85110KA1930PLC000124

Email- www.ingvysyabank.com1.4.2 Nature of the Organization and its businessBANK WITH ING,JIYO EASY!ING is a global financial institution of Dutch origin, offering banking, investments, life insurance and retirement services to meet the needs of a broad customer base. With more than 82,000 employees, ING serves over 61 million private, corporate and institutional customers in over 40 countries in Europe, North America and Latin America, Asia and Australia. The bank draw on its experience and expertise, its commitment to excellent service and its global scale to meet the needs of a broad customer base, comprising individuals, families, small, businesses, large corporations, institutions and governments.ING Vysya Bank Ltd is a premier private sector bank with retail, private and wholesale banking platforms that serves over two million customers. With over 80 years of history in India and leveraging INGs global financial expertise, the bank offers a broad range of innovative and established products and services, across its 547 branches. The Bank, which has close to 10,000 employees, is also listed in Bombay Stock Exchange Limited and National Stock Exchange of India Limited. ING Vysya Bank was ranked among top 5 Most Trusted Brands among private sector banks in India in the Economic Times Brand Equity Nielsen survey 2011. The Vysya bank was established in 1930 in bangalore. It is one of the largest private sector bank. The bank was formed from the 2002 acquisition of an equity stake in Indian Vysya Bank by the Dutch ING Group. This merger marked the first between an Indian bank and a foreign bank. Prior to this transaction, Vysya Bank had a seven-year old strategic alliance with erstwhile Belgian bank Banque Bruxelles Lambert, which was also acquired by ING Group in 1998.

CURRENT OPERATIONS OF ING VYSYA BANKING Vysya Bank has competed in the banking/financial services and insurance markets for over 80 years and currently serves over 2 million Indian consumers. The bank markets an entire range of financial products and services, organised under four strategic lines of business: retail, private, wholesale banking ad agricultural banking.Retail banking :With 547 branches and 10 counters, 28 satellite offices and 470 ATM's nationwide, ING Vysya's retail operation offers checking accounts, savings deposits/CD's, retail wealth management services, consumer loans, agricultural/rural banking and retail life insurance products. The bank has rapidly expanded its distribution footprint and has created a national brand presence through several innovative marketing campaigns.Private banking:ING Vysya's private bank operates on an advisory-driven model. Specialized market research remains the bank's focus for the introduction of new tailored products to serve the high-end private banking segment.Corporate/wholesale banking:The wholesale banking business provides corporate clients in India a range of commercial, transactional and electronic banking products. The bank offers client focused products including working capital finance, trade and transactional services, foreign exchange, term loans and cash management services.The wholesale banking business comprises four business sub-segments and multiple product offerings. The business segments Corporate and Investment Banking, Emerging Corporate, Banking and Financial Institutions and financial markets.Agriculture and rural banking:Agriculture and Rural Banking deals with all business related to agriculture and allied activities, Gold Loans, loans to SHGs and lending to government sponsored schemes. Working Capital and Agriculture Term Loans for Poultry, Dairy, Cold storage units etc. are also being offered to cater diverse needs of the farming community. The Bank has accelerated retail agricultural lending at a few places in North India and Central India especially in Rajasthan, Uttarakhand, Maharashtra, Gujarat and Madhya Pradesh. ING Vysya Mobile App ING Vysya bank's mobile app helps customers to check the balance and much more than a conventional mobile app by simply downloading this app in their cell phones. With the help of this app customers need not to go to the bank all the time for checking their balance in their account.ING VYSYA bank has been associated with Basaveswara Vidya Vardhaka Sangha, a registered Society with over 100 years of existence. Sangha has a chain of institutes numbering over 120 covering all fields of education and established RUDSETI at Bagalkot with objective to identify, orient, train, counsel, assist young people and to motivate and empower them to take up self-employment venture by providing all the needed assistance. Since inception 13000 candidates have been trained, out of which 8000 were women and 10,000 candidates were settled / linked with finance by various banks in the district.Bank has also devised various products for financial inclusion, namelya) General credit Card Scheme.b) DIR scheme.c) Self Help Group (SHG) finance.d) Kisan Credit Carde) Zero Balance No Frill Accounts with OD facilityf) BC No Frill Accounts ( Payment to NREGP/SSP Beneficiaries)Bank has adopted the Business Correspondent Model for extending the services in rural areas and deepening financial inclusion in the unbanked areas in AP and Karnataka State. Presently bank has two BCs for disbursing amounts to NREGP & SSP beneficiaries. The achievements so far in this regard are :a) Enrolled over 130446 beneficiaries.b) Opened over 99631 accounts.c) Issued 99631 Smart Cards.d) Disbursed Rs. 26 Crs. to 36148 beneficiaries in AP.Product launch: New milestone rewards with ING Vysya debit cards:ING Vysya Bank and MasterCard today announced the launch of ING MasterCard Premium Debit Cards. Unlike other debit cards in the market this card comes with reward points based on spend-milestones. While using debit cards for shopping is an increasing trend in India, redemption of rewards points isn't. "Indian customers are using their debit cards to shop, debit spends are increasing by 38 percent. Surprisingly however, Indian customers redeem only 18 percent of their reward points," said Shailendra Bhandari, MD and CEO, ING Vysya Bank.This is primarily due to the way most reward points programmes work, where a certain number of points have to be accumulated, at times with certain tie-up merchants. They also come with expiry dates. How this works:Under the spend-milestone-based system, you need to spend a certain amount for two years, after which you could choose the reward from a number of choices the banks offers. For instance, you should spend Rs 2 lakh (Rs 7,500 a month), Rs 4 lakh (15,000 a month) or Rs 6 lakh (25,000 a month) over two years with debit card. These cards are available in three variants, Titanium, My World and World Exclusive. The fee for the card is in the range of Rs 0 to as much as Rs 750, depending on the variant you choose. 1.4.3 Vision and Mission Statement:a) Vision of ING Vysya Bank The Vision statement of ING Vysya bank is to provide its customers with the most effective solutions to help them best manage their financial futures, and creating long lasting value for all stakeholders of the bank.b) Mission of ING Vysya BankThe mission of ING Vysya bank is to be the preferred bank of its customers through operational excellence and international service quality; and of its employees with the highest level of ethical and moral values.c) Corporate StatementING Vysya Bank will be an entrepreneurial integrated financial services institution where Innovation and Transformation are the way of life.1.4.4 PRODUCT RANGE OF THE ING VYSYA BANK:A) SAVINGS ACCOUNTS:a) Platina saving accountsb) Orange saving account Zing saving accountc) Zwipe saving accountd) Basic saving bank deposite) Senior saving accountB) CURRENT ACCOUNTS:a) General current accountb) Comfort current accountc) Advantage current accountd) Flexi current accounte) Orange current accountf) Institutional current accountg) Platina current accountC) DEMAT ACCOUNTSD) TERM DEPOSITSE) DEBIT CARDSF) CREDIT CARDSG) FOREX SERVICESH) CORPORATE SALARY ACCOUNTI) INSTITUTIONAL ACCOUNTSJ) LOCKERS

1.4.5 SIZE OF THE ING VYSYA BANK:a) In ING Vysya bank, there are 10059 employees who are working. The total number of branches of the bank is 557 and total number of ATM of the bank is 405 .The total number of extension counters are 10.b) The turnover of the bank for the year 2013-2014 is INR 5588 crores (US$9.1 billion).This is the latest data of the bank which is reflected by 83rd annual report of ING Vysya bank for the year ended 2013-2014.

1.4.6 Organization Structure of the Company

Organization StructureBoardCorporate secretaryChief-corporate Audit Group MD & CEOChief of staffVigilanceRiskChief-Human ResourceCountry Head wholesale bankingCountry Head Retail BankingChief-Operation officerCountry Head-Private Banking& Bank AssuranceHead market Risk managementHead market Risk managementChief Credit OfficerLiving BrandCountry Head TreasuryHead Corporate Finance & Investment BankingHead-ECProducts & ServicesRegional CEO-N&ERegional CEO-SeAPRegional CEO-APRegional CEO-WElectronic channels, CRM, Strategic ProjectsDistribution&MarketingConsumer Products & SalesSME Products & RelationshipsASB SBUChief Administrative officerChief Operation & ITChief Finance OfficerIVFSLPrivate Banking

1.4.7 Market share & position of the company in the IndustryFINANCIAL FIGURES W

In Rs. Crores Q3 Q3 % YTD YTD % 2008-09 2007-08 growth 2008 2007 growth

Net Interest Income 172.7 144.9 19.2% 487 357 36.1%

Other Income 149 95.7 55.9% 400 279 43.3%

Total Income 321.8 240.6 33.8% 887.8 637.5 39.3%

Operating Costs 215.3 158.9 35.5% 585.0 438 33.6%

Operating Profit 106.5 81.7 30.4% 302.8 199.5 51.8%

Operating Profit after Exceptional 106.5 100 6.4% 302.8 219.8 37.7% Items

Provision & 21.6 27.7 -22.1% 84.7 33.9 150.1% Contingencies

Profit before Tax 84.9 72.4 17.3% 218.1 186 17.3%

Provision for Taxes 32.8 29.6 11% 78.4 71.9 9.1%

Profit after Tax 52.1 42.8 21.8% 139.7 114 22.5%

Table: 1.1

Growth at ING Vysya Bank.In terms of pure numbers, the performance over the decades can better be appreciated from the following table: Rs. in millions YearNetworthDepositsAdvancesProfits Outlets

19400.0010.4000.4000.001 4

19501.405.303.80 0.09 16

19601.6020.1013.500.13 19

19703.0091.5062.800.74 39

1980 11.501414.30 813.701.13228

1990162.108509.404584.8050.35 319

20005900.0074240.0039380.00443.10 481

2001 6527.0081411.1043163.10 371.90 484

20026863.2480680.0044180.00687.50 483

20037067.9091870.0056120.00863.50 456

20047473.20104780.0069367.30590.01 523

20057094.00125693.1090805.90(381.80) 536

200610196.70 133352.50 102315.2090.6562

200711101.90 154185.70 119761.70889.0626

200814260.00204980.00 146500.001569.00677

Table: 1.2Even in the recessionary period the ING Vysya Bank is going in profits. While other banks are losing a big percentage of their expected profits.

ING Vysya Bank Q3 Profit up 22%Continued Profit Growth sustained by Strong Fee Income PerformanceThe Board of Directors of ING Vysya Bank Ltd. approved the unaudited financial results of the Bank for the quarter and period ended 31 December 2008 at its meeting in Bangalore at 23rd January 2009.

FINANCIAL HIGHLIGHTSQ3 PerformanceNet Profit after Tax (PAT) for the quarter ended 31 December 2008 increased by 22% to Rs.52.1 Crores from Rs.42.8 crores for the quarter ended 31 December 2007 and Profit before Tax (PBT) rose 17% to Rs.84.9 crores from Rs.72.4 crores. However, excluding the impact of exceptional items reported in the quarter ended 31 December 2007, PAT grew by 70% and PBT by 57% over the same quarter last year. Net Interest Income (NII) was up 19% to Rs.172.7 crores from Rs.144.9 crores and Fee & Other Income increased by 56% to Rs.149.1 crores from Rs.95.7 crores in the prior year. Nine months ended December08The PAT for the period ended 31 December 2008 increased 23% to Rs.139.7 crores fromRs.114.1 crores for the period ended 31 December 2007 and PBT grew 17% to Rs.218.1 croresfrom Rs.186.0 crores.However, excluding exceptional items reported in the previous year, PAT increased by 40% andPBT by 32% over the corresponding period last year. NII grew 36% to Rs. 487.2 crores from Rs.357.9 crores and Fee & Other Income was up 43% to Rs. 400.6 crores from Rs. 279.6 crores inthe previous year. Business HighlightsTotal Deposits grew 25% to Rs. 22,401 crores as at end December 2008 from Rs.17,871 crores the year before. Current and Savings (CASA) deposits rose 8% to Rs.5,819 crores as at end December 2008 from Rs. 5,406 crores as at end December 2007.Advances grew 19% to Rs.16,014 crores in December 2008 from Rs. 13,409 crores in December 2007. Total Assets of the bank registered a 30% growth to Rs.29,050 crores. The Credit Deposit Ratio was at 71.5% in December 2008 against 75.0% in December 2007.The Gross NPA ratio and Net NPA ratio were at 1.84% and 1.09% respectively as at 31 December 2008 compared to 1.81% and 0.71% respectively as at 31 December 2007. The net worth of the Bank as at 31 December 2008 stood at Rs.1,568 crores compared to Rs. 1,459 crores as at end December 2007 and the Capital Adequacy Ratio stood at 10.72% in December 2008. In October 2008, the bank increased its capital through the issue of Tier 1 Perpetual debt amounting to approx. Rs.95 crores. Subsequent to the quarter end, the Bank raised an additional Rs.200 crores of Upper Tier 2 capital which has been subscribed entirely by ING Group. ING Vysya FOUNDATION (ING CSR) World over ING has strengthened its name as a good corporate citizen. The ING Chances for Children initiative (CFC) a global program in partnership with UNICEF is to educate 50,000 underprivileged children in three countries, Ethiopia, India and Brazil by 2008. In India the focus is primarily in the districts of Dharampuri and Krishnagiri in Tamil Nadu. Through the national Child labor Elimination (NCLP) bridge schools, ING provides much needed support to UNICEF, to fund, monitor, and provide children with quality primary educationThe Indian arm of the Chances for Children programs is run by the support of ING business units in India (ING, ING Life Insurance and ING Investment Management) through the ING Vysya Foundation. The Foundation was set up almost 3 year ago and was actively involved in the post Tsunami rehabilitation of the victims. ING Group set up a dedicated Tsunami Support account. In India, the Foundation partnered with five NGO providing much needed financial support, from rebuilding of schools to providing fishing boats, giving much needed hope to destroyed lives.The Indian chapter of CFC involves the partnership of the Foundation with 7 NGO working in primary education. Not only does the Foundation provide much needed financial support to these organizations but also runs strong voluntary programs giving the employees a chance to meet the children, work with them and take ownership and responsibility for the vision of its partners. The Foundation creates systems that ensure CSR activities within the organization. Various programs are initiated with the employees, whether it is taking 100 children for a day out to the planetarium or watching a film with them. It collectively influences the culture of the organization; and also provides the employees with an opportunity to contribute to the vision of the organizations CSR..1.5 Industry Profile History of INDIAN BANKING SYSTEMBanking in India originated in the last decades of the 18th century. The first banks were The General Bank of India, which started in 1786, and the Bank of Hindustan, both of which are now defunct The oldest bank in existence in India is the State Bank of India, a government-owned bank that traces its origins back to June 1806 and that is the largest commercial bank in the country. Allahabad Bank, established in 1865 and still functioning today, is the oldest Joint Stock bank in India.Central banking is the responsibility of the Reserve Bank of India, which in 1935 formally took over these responsibilities from the then Imperial Bank of India, relegating it to commercial banking functions. After India's independence in 1947, the Reserve Bank was nationalized and given broader powers. In 1969 the government nationalized the 14 largest commercial banks; the government nationalized the six next largest in 1980. In 1948, the Reserve Bank of India, India's central banking authority, was nationalized, and it became an institution owned by the Government of India.

In 1949, the Banking Regulation Act was enacted which empowered the Reserve Bank of India (RBI) "to regulate, control, and inspect the banks in India."

The Banking Regulation Act also provided that no new bank or branch of an existing bank could be opened without a license from the RBI, and no two banks could have common directorsLiberalization in Indian Banking SystemIn the early 1990s, the then government embarked on a policy of liberalization, licensing a small number of private banks. These came to be known as New Generation tech-savvy banks, and included Global Trust Bank (the first of such new generation banks to be set up), which later amalgamated with Oriental Bank of Commerce, Axis Bank(earlier as UTI Bank), ICICI Bank and HDFC Bank. This move, along with the rapid growth in the economy of India, revitalized the banking sector in India, which has seen rapid growth with strong contribution from all the three sectors of banks, namely, government banks, private banks and foreign banksThe next stage for the Indian banking has been setup with the proposed relaxation in the norms for Foreign Direct Investment, where all Foreign Investors in banks may be given voting rights which could exceed the present cap of 10%, at present it has gone up to 49% with some restrictions. The new policy shook the Banking sector in India completely. Bankers, till this time, were used to the 4-6-4 method (Borrow at 4%; Lend at 6%; Go home at 4%) of functioning. The new wave ushered in a modern outlook and tech-savvy methods of working for traditional banks. All this led to the retail boom in India. People not just demanded more from their banks but also received more.Currently (2009), banking in India is generally fairly mature in terms of supply, product range and reach-even though reach in rural India still remains a challenge for the private sector and foreign banks. In terms of quality of assets and capital adequacy, Indian banks are considered to have clean, strong and transparent balance sheets relative to other banks in comparable economies in its region. The Reserve Bank of India is an autonomous body, with minimal pressure from the government. The stated policy of the Bank on the Indian Rupee is to manage volatility but without any fixed exchange rate-and this has mostly been true.With the growth in the Indian economy expected to be strong for quite some time-especially in its services sector-the demand for banking services, especially retail banking, mortgages and investment services are expected to be strong. One may also expect M&A, takeovers, and asset sales.Currently, India has 88 scheduled commercial banks (SCBs) - 27 public sector banks (that is with the Government of India holding a stake), 31 private banks (these do not have government stake; they may be publicly listed and traded on stock exchanges) and 38 foreign banks. They have a combined network of over 53,000 branches and 17,000 ATMs. The public sector banks hold over 75 percent of total assets of the banking industry, with the private and foreign banks holding 18.2% and 6.5% respectively.

CHAPTER - 2

LITERATURE REVIEW

Review Of LiteratureIt is relevant to refer briefly to the previous studies and research in the related areas of thesubject to find out and to fill up the research gaps, if any. Literature on financial services cangenerally be found; a number of books are available on banking related aspects as merchantbanking, loan syndication, securitization, profitability and productivity etc. but, few studiesare undertaken on the role of technology in the banking services..Abdullah D.N.M.A. and Rozario F. (2009) study the influence of service and product qualitytowards customer satisfaction. 149 respondents from one of the well known hotel in KualaLumpur, Malaysia are selected as a sample. Psychometric testing is conducted to determinethe reliability and validity of the questionnaire. The study finds positive significantrelationship between place/ambience and service quality with customer satisfaction.Although, relationship between food quality and customer satisfaction is significant, it is inthe negative direction. Future researchers can concentrate on determining attributes thatinfluence customer satisfaction when cost/price is not a factor and reasons for place/ambienceis currently becoming the leading factor in determining customer satisfaction.Aktan B., Teker E. and Erosy P. (2009) examines the usage of internet in Turkey to make abasic due-diligence investigation for the financial institutions, including banking, stocktrading, insurance and provision of financial information over the period 2005 and 2008. Thefindings show that internet usage in Turkey with its young population has continued to growdramatically in financial services in terms of customers and financial transactions of variousnatures.Azouzi Dhekra (2009) aims to check if the current and prompt technological revolutionaltering the whole world has crucial impacts on the Tunisian banking sector. On the basis ofempirical analysis, the study concludes that panoply of factors is affecting the customersattitudetoward e-banking. For instance; age, gender and educational qualifications seem to beimportant and they split up the group into electronic banking adopters and traditional bankingdefenders and so, they have significant influence on the customers adoption of e-banking. Italso shows that despite the presidential incentives and in spite of being fully aware of theebanking benefits, numerous respondents are still using the conventional banking. Fear of lossbecause of transactions errors or hackers plays a significant role in alienating Tunisiancustomers from online banking. Finally, the study highlights the limitations and suggestssome research perspectives.Ganesan R. and Vivekanandan K. (2009) describe a secured hybrid architecture model for theinternet banking using Hyperelliptic curve cryptosystem and MD5. This hybrid model isimplemented with the Hyperelliptic curve cryptosystem (HECC) and it performs theencryption and decryption processes in an efficient way merely with an 80-bit key size. Thevarious screen shots given in this contribution shows that the hybrid model whichencompasses HECC can be considered in the internet banking environment to enrich theprivacy and integrity of the sensitive data transmitted between the clients and the applicationserver.Hua G. (2009) investigates the online banking acceptance in China by conducting anexperiment to investigate how users perception about online banking is affected by theperceived ease of use of website and the privacy policy provided by the online bankingwebsite. The 110 undergraduate students in Chinese University are involved in the32investigation. The study finds that both perceived ease of use and privacy policy have asignificant impact on users adoption of online banking. The study also investigates relative importance of perceived ease of use, privacy, and security. Perceived ease of use is of less importance than privacy and security. Security is the most important factor influencing users adoption. The study also discusses the implications of these results and limitations.Ismail A., Abdullah M.M.B. and Sebastian K.F. (2009) explore the relationships among service quality features (responsiveness, assurance, and empathy), perceived value and customer satisfaction in context of Malaysia. The empirical data is drawn from 102 members of an academic staff of a Malaysian public institution of higher learning using a survey questionnaire. The results indicate that the interaction between perceived value and responsiveness is not significantly correlated with customer satisfaction, the interaction between perceived value and assurance also does not correlate significantly with customer satisfaction and the interaction between perceived value and empathy correlated significantly with customer satisfaction. Thus the results demonstrate that perceived value has increased the effect of empathy on customer satisfaction, but it has not increased the effect of responsiveness and assurance on customer satisfactionJanson N. (2009) analyzes the consequences of the major instability introduced by internet banking on the banks ability to manage a liquidity crisis in Northern Rock Bank. The study shows that inconsistency of the Bank of England policy lead to the initial bank run and that because it persists in that direction it further lead to the banks bankruptcy. Internet banking does not cause the failure of the bank but it certainly accelerates the fall of the bank which calls for a greater consistency of the central bank role as a lender of last resort. The study concludes that despite the existence of lender of last resort and deposit insurance scheme, markets participants and individual depositors in particular do not like confusing messages during uncertain times. Ms. Jayshree Chavan, Mr. Faizan Ahman (2013).This empirical research study focuses on exploring the major factors that lead to customer satisfaction in retail banking in Western Maharashtra in India. It also leads to developing a conceptual framework of relationship marketing practices in Indian banks by capturing the perspectives of consumers with respect to their satisfaction with various services. The findings revealed that customer satisfaction, a transaction-specific attribute, is dependent on nine different factors. It is hoped that this research paper would help the bank management not only in improving the overall level of customer satisfaction but also strengthening the bond between the banks and their customers, thereby helping the banks to retain and/or expand their overall customer base.Uppal R.K. (2010) studies the extent of mobile banking in Indian banking industry during2000-2007. The study concludes that among all e-channels, ATM is the most effective whilemobile banking does not hold a strong position in public and old private sector but in newprivate sector banks and foreign banks m-banking is good enough with nearly 50 pc averagebranches providing m-banking services. M-banking customers are also the highest in ebankswhich have positive impact on net profits and business per employee of these banks. Among all, foreign banks are on the top position followed by new private sector banks in providingm-banking services and their efficiency is also much higher as compared to other groups. Thestudy also suggests some strategies to improve m-banking services

CHAPTER- 3RESEARCH METHODOLOGY

3.1 RESEARCH METHODOLGYAll the conclusions are based on the survey done in the working within the time limit. I tried to select the sample representative of the whole group during my training. I have collected data from people linked with ING VYSYA BANK a)Universe-DelhiResearch Design: The research Design is descriptive.A descriptive research is a research which includes surveys and fact-finding enquiries of different kinds. The major purpose of descriptive research is description of the state of affairs as it exists at present. The main characteristic of this method is that the researcher has no control over the variables; he can only report what has happened or what is happening Sampling Type- Random SamplingSample Size- My sample size for this project was 100 respondents. Since it was not possible to cover the whole universe in the available time period, it was necessary for me to take a sample size of 100 respondents.Sample Location- Chandni ChowkData Type- Quantitative Quantitative data is data that can be measured numerically. Things that can be measured precisely rather than through interpretation -- such as the number of attendees at an event, the temperaturein a given location, or a person's height in inches can be considered quantitative data. Its foil qualitative data -- requires a subjective decision in order to be categorized or measuredInstruments Used- QuestionnaireAnalytical tools- Graphs and pie charts are used for presentation and interpretation of collected data.

b)Constraints under which the study has been undertaken

Budgetary constraints: - Collecting data from a large number of respondents is not easy. The process becomes expensive so here also, in this study lack of budget was one of the constraints suffered during the research process.

Reliability of data: - The data collected must be useful otherwise the whole study will be a waste. To bring relevant data and extracting important information from the same data was difficult.

Time constraint: - A research cannot be completed within 45 days of duration, so short time duration was a limitation under which the result needs to be generated. There was lack of time so not all the customers were taken as respondents.

Language barrier: - Many of the respondents were asking their juniors or other members to fill the form from their side where the people were experienced in working but not much educated. For them, it took much time to make them understand the questions and the importance of filling questionnaire for us.

Boring and time waste: - Many of our customers feel that it is a boring process and a time wasting activity. To avoid it, they filled it randomly or avoided some of the questions. They answered without reading properly, which can result in wrong interpretation of data collected.

CHAPTER- 4

DATA REDUCTION, PRESENTATION AND ANALYSIS

After collection, data has to be analysed in accordance with the outline laid down for the purpose at the time of developing the research plan. This is essential for a scientific study and for ensuring that the data collected is relevant for making contemplated comparisons and analysis.Processing refers to editing, coding, classification and tabulation of collected data so that they are amenable to analysis.Processing operations:-Editing it is a process of examining the collected data to detect errors and omissions and to correct these when possible. As a matter of fact, editing involves a careful scrutiny of the completed questionnaires/ or schedules. Editing is done to ensure that the data are accurate, consistent with the other facts gathered, uniformly entered, as completed as possible and have been well arranged to facilitate coding and tabulation.Coding- coding refers to the process of assigning numerals or other symbols to answers so that response can be put into a limited number of categories or classes. Such classes should be appropriate to the research problem under consideration. They must also possess the characteristics of exhaustiveness (i.e.- there must be a class foe every data item) and also that of mutual exclusively which means that a specific answer can be placed in one and one cell in a given category set. Classification- classification means to arrange the data in groups or classes on the basis of common characteristics. Data having common characteristics are placed in one class and this way the entire data get divided into a number of groups or classes.It can be classified into two types: Classification according to attributes (such as literacy, sex, honesty etc) Classification according to class (such as income, production, age, weight etc)Tabulation- when a mass of data has been assembled, it becomes necessary for the researcher to arrange the same in some kind of concise and logical order. This process is called tabulation. Tabulation is a process of summarizing raw data and displaying the same in compact form for further analysis. It is an orderly arrangement of data in columns and rows.

CHAPTER-5DATA INTERPRETATION

Data Interpretation1) For how long you are the part of the ING Vysya bank?Response No. of Respondents%age of Respondents

Less than 6 Months2020%

Less than 1 Year3737%

Less than 2 Years 1414%

More than 2 Years 2929%

Total 100100%

Figure: 5.1Interpretation:From the above graph it is clear that majority of the respondents are part of ING Vysya Bank from last one year i.e. 37%; 29% of the respondents are part of ING Vysya Bank from last more than 2 years; 20% respondents from 6 months and remaining 14% respondents are part of ING Vysya Bank for last two years.2) What Products/Services are you currently availing from the bank?

Figure: 5.2Interpretation:From the above, it can be seen that 100% customers availed Savings A/C in their current banks. Next most widely used service being that of fixed deposits with 29.62% respondents using this facility. 17.59% respondents each availed Locker Facility and Life Insurance with their current bank. 12.03% respondents had Mutual Funds from their current bank while 8.33% availed loan facility from their current bank and only 6.48% respondents availed the current account facility. This shows that people mainly use the Saving A/C and Fixed deposit facility from their primary banks.

3) Do you have the complete knowledge of the account and services associated with it?Yes80%

No15%

Cant Say5%

Figure: 5.3Interpretation:80% of the customers have the complete knowledge about the bank, its services and the information about the services they are availing from the bank. 15% of the customers are not aware about the services associated with their account and 5% of the customers dont have any idea.

4) How satisfied are you with the services provided by the bank?Highly Satisfied25%

Satisfied60%

Neither Satisfied Nor Dissatisfied3%

Highly Dissatisfied10%

Dissatisfied2%

Figure: 5.4Interpretation:According to the above figure, 60.18% of the total respondents are satisfied with their current bank while 27.7% are highly satisfied from their current bank, only 1.85% are dissatisfied while 0.92% people are highly dissatisfied. Whereas of the respondents 9.26% are such who are neither satisfied nor dissatisfied from the services provided by their current bank.

5) Which service of the bank would you rate the best?Response No. of Respondents%age of Respondents

Saving a/c3333%

Fixed deposits4040%

Current a/c1212%

De-mat a/c00%

Credit cards00%

Mutual funds1010%

Loans55%

Figure: 5.5

Interpretation:From the above graph it is clear that 33% of the respondent rate saving a/c, the best product. 40% said FDs are best. 12% said current a/c.10% said about mutual funds.5% said about loans and no one rate de-mat a/c & credit card.

6) What is your most frequent point of interaction with the bank?ATM100%

Visit Branch35%

Phone Banking35%

Internet Banking82%

Figure: 5.6Interpretation:All of the bank customers interact most frequently with the bank by doing their transactions from ATM. 35% of them visit branch quite often and 35% of the respondents also go for phone banking. Internet Banking is the 2nd most point of interaction of bank and the customer. ING Vysya is having best Internet banking attributes. This implies the technological advancement in Delhi Citizens.

7. Please rate the bank on the basis of your perception about the given attributes out of 4, where 1 is the least/disappointing and 4 is the most/excellentS.NOATTRIBUTES1234

1. Bank charges

2. Working Hours

3. Location

4. Customer care

5. Behavior of staff

6. Variety of accounts

7.Processing Speed

8.Grievance/queries handling

Figure: 5.74 - Most/excellent 3- Reasonably good2- Fair 1- Disappointing Interpretation:1. People associated with ING Vysya Bank found their bank charges nominal and rated it 4out of 4,about 97% of the customers stated the same.2. When asked about thee working hours customers said its reasonably good as it operates from 10 to 7 which is 2 hours more than any other bank, therefore it has an edge over other banks.3. When asked about the location, it has been rated as the lowest as people said that the ing vysya has the lowest number of branches and are not accessibly located.4. Almost all respondents who are in connection with ING Vysya Bank have rated it best in the customer care services. This way ING Vysya has got an advantage of delivering excellent customer care services.5. In case of Behavior of the Staff most of the ING Vysya customers have rated ING the best. Almost 100% of the ING customers are well satisfied with their bankers behavior.6. With the criteria of Variety of Accounts, people have rated ING Vysya as reasonably fair as the bank is operating with lesser number of accounts as compared to other highly established private banks.7. . Most of the ING Vysya customers are happy with processing speed of their banking transactions. ING Vysya Bank boasts about delivering the commitment. According to the ING an account takes 5 days for activation. 8. The queries handling is done very well by ING Vysya bank according to the respondents,it has been rated good.

8.Please rate the following variables which influence you when it comes to open an account on the scale of 1 to 5 where 1 is strongly disagree and 5 is strongly agree.

SL NO STATEMENTS SRONGLY DISAGREE STRONGLY AGREE

12345

1I will prefer, if my friend recommends me to open an account in a particular bank.

2I am very cautious about Average Quarterly Balance non-maintenance charge.

3I am generally motivated by the television add for saving bank account.

4I m generally bothered about the distance between my home and the Bank.

5I prefer saving bank account as it is popular.

7I give preference to instant alert, net-banking, phone banking, and mobile banking.

I will prefer, if my friend recommends me to open an account in a particular bank. (WORD OF MOUTH)

Figure: 5.8.1

Interpretation:According to the respondents, they mainly disagree for opening a bank account on their friends or relatives recommendation. And to 27% of the respondents it doesnt matter. Very few people agree to the recommendation. This means that the WORD OF MOUTH is not an essential marketing channel for opening an account in bank. People first try to find the real facts by their own.

I am very cautious about Average Quarterly Balance non-maintenance charge. (QAB)

Figure: 5.8.2

Interpretation:Many people are bothered about their QAB, and to 23% people QAB doesnt mean much. According to them they were never charged for not keeping enough QAB. At ING they need to maintain the quarterly balance of INR 5000

I am generally motivated by the television advertisements for saving bank account.

Figure: 5.8.3 Interpretation:Most of the respondents were unaware of the new advertisements of various banks. For them it hardly plays any important role in capturing market share. Only 4% of people follow the advertisements to know information about the bank.

I am generally bothered about the distance between my home and bank Figure: 5.8.4Interpretation:Most of the respondents were very much bothered about the distance from their bank and home. That implies that PROXIMITY to bank is one of the very BOLD VARIABLE for account opening.

I give preference to instant alert, net banking and phone banking.

Figure: 5.8.5Interpretation:Most of the Customers strongly agree that they give preference to instant alert about the deposits and withdraw in their accounts by the bank. They also prefer the facility of net banking and phone banking as it gives them ease for banking.

9. How likely are you to recommend Bank services to a friend or colleague?Response No. of Respondents%age of Respondents

Very unlikely88%

Somewhat unlikely3030%

Neither likely nor unlikely1717%

Somewhat likely3535%

Very likely1010%

Figure: 5.9Interpretation:From the above graph it is clear that 8% of the respondents are unlikely to recommend the products of ING Vysya Bank to their friends and colleagues, 30% said somewhat unlikely, 17% said neither likely nor unlikely 35% said somewhat likely and 10% said very likely.

10. What is your overall satisfaction rating with our bank?Response No. of Respondents%age of Respondents

Very dissatisfied22%

Somewhat dissatisfied99%

Neither satisfied nor dissatisfied2121%

Very satisfied4848%

Somewhat satisfied2020%

Figure: 5.10Interpretation:From the above graph it is clear that 48% of the respondents are very satisfied with the bank, 20% are somewhat satisfied, 21% are neither satisfied nor dissatisfied, 9% are somewhat dissatisfied and 2% are very much dissatisfied with the bank.

CHAPTER- 6

SUMMARY & CONCLUSION

6.1 Result of the Study Majority of the customers are satisfied with ING VysyaBank.

Majority of the customers are aware of services and extra services offered by ING Vysya Bank. But not all the services.

The majority of the customers found services of the bank are average.

Majority of the respondents are found the bank is average in maintaining the good customer relationship.

Majority of the respondent said that they are facing the problem of timeliness and rest are facing problem of customer relationship and infrastructure.

The perception of the majority of the customer regarding the bank is good because majority of the customers are satisfied with the bank and they also recommend the products of the bank.

The majority of customers are more interested in FDs, mutual funds and saving a/cs.

The majority of the customers are satisfied with the dealing of the officials upto some extent.

Main factor that attract customers towards bank is the services of the bank.

Services that are most used by the customer are saving a/c, FDs, current a/c and loans.

6.2 LimitationsIt is said, Nothing is perfect and if the quite is true, I am sure that there would be few shortcoming in this project also. Sincere efforts have been made to eliminate discrepancies as far as possible but few would have reminded due to limitations of the study. These are: ING Vysya Bank have a very few branches in Northern India ING Vysya Bank have fewer banking/financial product compare to other ING Vysya Bank have very few ATM . Research is only done in Delhi. Limited sample size. Research is self-financed so money is a major constraint The information given by the respondent might be biased some of them might not be interested to given correct information. Respondents are biased toward their current bank. Time is 6 weeks, so much of economic fluctuations are not seen

6.3 Suggestions Many of the respondent are not aware about their key services. Bank has to take some initiatives. Bank can post a list of services that they can rendered to the customer inside the bank premises. ING Vysya Bank has to improve its brand image i.e. create a position in the mindset of the customer. It should more emphasize on advertisement. Advertisement is a most powerful tool for position and brand in the mindset of customer. ING Vysya Bank should ask for their customer feedback to know whether the consumer are satisfied or dissatisfied. Due to intense competition in the financial market. ING Vysya Bank should adopt better strategy to attract more customer.

Conclusion By the study we conducted on Customer satisfaction, we can conclude that:This study has helped the company to measure the level of satisfaction in customers who were there in the area of Delhi and NCR, where company got good results.The majority of customers are satisfied. But the bank should target on the rest of the customers who are not satisfied. The customers are aware about the banks services but the Bank should try to create more awareness among people. ING Vysya Bank should lay more stress on advertisements, both in print as well as in other media for this purpose. Number of formalities should reduce, as customer feels irritated with lots of formalities and it will save the time of customer and Bank also.

BIBLIOGRAPHYWEBSITES

www.ingvysyabank.com www.moneycontrol.com www.economictimes.comREFERENCESAnderson EW, Mittal V (2000). Strengthening the satisfaction-profit chain. J. Serv. Res., 3(2):107-120Burnham TA, Frels JK, Mahajan V (2003). Consumer switching costs: a typology, antecedents, and consequences. J. Acad. Mark. Sci.,31(2):109-126.Cheng SH, Yang MC, Chiang TL (2003). Patient satisfaction with and recommendation of a hospital: effects of interpersonal and technical aspects of hospital care. Int. J. Qual. Health Care, 15(4): 345-355.Department of Health (Taiwan, R.O.C) (2009). Health and vital statistics. Retrieved July 30, 2010, fromhttp://www.doh.gov.tw/statistic/index.htm.Jham Vimi (2005), Insights into Customer Interactions in the Banking Industry: A Qualitative Relationship Marketing Study,Review of Professional Management, Vol. 3, No. 1, pp. 10-17Jayshree Chavan, Faizan Ahman (2013), Factors affecting customer satisfaction in Retail Banking: An Emperical Study, International Journal of Business and Management Invention, Vol.2, Issue1, PP. 55-62.Kamel H. and Hassan I., (2003), A study on risk factors of Internet Banking, International Journal of E-Banking, Vol.5, No.4, pp.17-22.Shil Nikhil and Das Bhagaban, (2008), A Study of Customer Satisfaction with Regard to Banking: An application of QFD, The Icfain Journal of Management Research, Vol. VII, No. 8, pp. 7-26.

ANNEXURE

QuestionnaireDear respondent, We are conducting a research to know the general perception and attitude of customer towards the products & services that are offered by ING Vysya Bank in Delhi region. The information will be valuable input for the research and we assure you that the information will be kept confidential. We hope that you will co-ordinate with us and give quite a few minutes from your precious time and give the genuine answer.

Personal Details:-Name:-

Gender :-M F

Age:-

Address:-

Occupation:-ServiceProfessionalBusinessmanOthers (Please Specify)..

Educational Qualification:-Under GraduateGraduatePost graduate

Phone no.(Optional):-

Annual Income:-Below 1 Lac1 Lac 3 Lac3 Lac - 5 LacAbove 5 Lac

1. For how long you are part of ING Vysya Bank?Less than 6 Months ( ) Less than 1 Year( ) Less than 2 Years ( ) More than 2 Years ( ) 2. What Product or Services are you currently availing from the bank? Savings A/CCurrent A/C

Mutual FundsLoan

Fixed DepositLife Insurance

Locker

3. Are you aware of the different services offered by ING Vysya Bank?Yes ( )No( )

7. How satisfied are you with the services provided by the bank? Highly SatisfiedSatisfiedNeither Satisfied Nor Dissatisfied

DissatisfiedHighly Dissatisfied

5. What services of the banks would you rate the best?Savings A/CCredit Card

Fixed DepositsInsurance

Current A/CMutual Funds

De-mat A/CLoans

6, What is your most frequent point of interaction with the bank?

Visit BranchATMPhone Banking

Drop BoxInternet BankingMobile Banking

8. Please rate the following banks on the basis of your perception about the given attributes out of 4, where 1 is the least/disappointing and 4 is the most/excellentS.NOATTRIBUTES1234

1.Bank charges

2.Customer care

3.Variety of saving bank account

4.Behavior of the staff

5.Working Hours

6.Location

7.Processing Speed

8.Grievance/queries handling

9. Please rate the following variables which influence you when it comes to open an account on the scale of 1 to 5 where 1 is strongly disagree and 5 is strongly agree.SL NO STATEMENTS SRONGLY DISAGREE STRONGLY AGREE

12345

1I will prefer, if my friend recommends me to open an account in a particular bank.

2I am very cautious about Average Quarterly Balance non-maintenance charge.

3I am generally motivated by the television advertisements for saving bank account.

4I am generally bothered about the distance between my home and the Bank.

5I prefer saving bank account as it is popular.

6I give preference to instant alert, net-banking, phone banking, and mobile banking.

9. How likely are you to recommend Bank services to a friend or colleague? (1) Very unlikely ( ) (2) Somewhat unlikely ( ) (3) Neither likely nor unlikely ( ) (4) Very likely ( ) (5) Somewhat likely ( )

10. What is your overall satisfaction rating with our company? (1) Very dissatisfied ( ) (2) Somewhat dissatisfied ( ) (3) Nether satisfied nor dissatisfied ( ) (4) Very satisfied ( ) (5) Somewhat satisfied ( )

Any other suggestions regarding the bank please mention:-

.

Tthank you for your cooperation for devoting your valuable time and sharing the valuable information with us which will help us to complete our project successfully.Place Date.. Signature of the respondent

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