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A PROJECT REPORT ON-

OPENING SAVINGS ACCOUNTS BY MEETING

CUSTOMERS IN HDFC BANK

Under the guidance of: Submitted by:

Dr. Gourav Srivastava Roli Mishra

Course - PGDM

(4th

Trimester)

LLOYD BUSINESS SCHOOL,GREAER NOIDA


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IMPORTANCE TO THE COMPANY:

The ultimate purpose of giving me this topic was to know about the

customers percept ions about the dif fe rent produ cts of the

bank , how thes e prod ucts can at t ra ct the m and how the company

can generate maximum profit by convincing them through sales executives.

LEARNING FROM THE STUDY:

The process of recruitment for Sales Executives of HDFC Bank.

Different products and services provided by the bank.

Customers perception about the different products.

The brand image of the bank.

What are the problems faced by these sales executives daily basis.

How to communicate with the customers.

Different techniques of dealing with the customers.

How to convince and convert a customer into a real customer.

ORGANIZATION PROFILE:-

FORMATION OF THE COMPANY

The Housing Development Finance Corporation Limited (HDFC) was amongst the

first to receive an 'in principle' approval from the Reserve Bank of India (RBI) toset up a bank in the private sector, as part of the RBI's liberalization of the Indian

Banking Industry in 1994. The bank was incorporated in August 1994 in the

name of 'HDFC Bank Limited', with its registered office in Mumbai, India. HDFC

Bank commenced operations as a Scheduled Commercial Bank in January 1995.


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PROMOTER

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

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

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

remain the market leader in mortgages. Its outstanding loan portfolio covers well

over a million dwelling units. HDFC has developed significant expertise in retail

mortgage loans to different market segments and also has a large corporate client

base for its housing related credit facilities. With its experience in the financial

markets, a strong market reputation, large shareholder base and unique

consumer franchise, HDFC was ideally positioned to promote a bank in the Indianenvironment.

BUSINESS FOCUS

HDFC Bank's mission is to be a World-Class Indian Bank. The objective is to

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

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

and to achieve healthy growth in profitability, consistent with the bank's risk

appetite. The bank is committed to maintain the highest level of ethical standards,professional integrity, corporate governance and regulatory compliance. HDFC

Bank's business philosophy is based on four core valuesOperational Excellence,

Customer Focus, Product Leadership and People

CAPITAL STRUCTURE

The authorized capital of HDFC Bank is Rs550 crore (Rs5.5 billion). The paid-

up capital is Rs424.6 crore (Rs.4.2 billion). The HDFC Group holds 19.4% of the

bank's equity and about17.6% of the equity is held by the ADS Depository (in

respect of the bank's American Depository Shares (ADS) Issue). Roughly 28% of

the equity is held by Foreign Institutional Investors (FIIs) and the bank has about

570,000 shareholders. The shares are listed on the Stock Exchange, Mumbai and

the National Stock Exchange. The bank's American Depository Share listed on the

New York Stock Exchange (NYSE) under the symbol 'HDB'.


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TECHNOLOGYHDFC Bank operates in a highly automated environment in terms of information

technology and communication systems. All the bank's branches have online

connectivity, which enables the bank to offer speedy funds transfer facilities to its

customers. Multi-branch access is also provided to retail customers through the

branch network and Automated Teller Machines (ATMs).The Bank has

made substantial efforts and investments in acquiring the best technology available

internationally, to build the infrastructure for a world class bank. The Bank's

business is supported by scalable and robust systems which ensure that our clients

always get the finest services we offer. The Bank has prioritized its engagement in

technology and the internet as one of its key goals and has already made significant

progress in web-enabling its core businesses. In each of its businesses, the Bank

has succeeded in leveraging its market position, expertise and technology to create

a competitive advantage and build market share

BUSINESS FOCUS

HDFC Bank's mission is to be a World-Class Indian Bank. The objective is to

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

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

and to achieve healthy growth in profitability, consistent with the bank's risk

appetite. The bank is committed to maintain the highest level of ethical standards,

professional integrity, corporate governance and regulatory compliance. HDFC

Bank's business philosophy is based on four core valuesOperational Excellence,

Customer Focus, Product Leadership and People


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RATING:

I. C r e d i t R a t i n g The Bank has its deposit programs rated by two rating agencies - Credit Analysis

& Research Limited (CARE) and Fitch Ratings India Private Limited. The Bank's

Fixed Deposit program me has been rated 'CARE AAA (FD)' [Triple A] by CARE,

which represents instruments considered to be "of the best quality, carrying

negligible investment risk". CARE has also rated the bank's Certificate of Deposit

(CD) program me "PR 1+" which represents "superior capacity for repayment of

short term promissory obligations". Fitch Ratings India Pvt. Ltd. (100% subsidiary

of Fitch Inc.) has assigned the "tAAA (ind )" rating to the Bank's deposit program

me, with the outlook on the rating as "stable". This rating indicates "highest credit

quality" where "protection factors are very high". The Bank also has its long term

unsecured, subordinated (Tier II) Bonds rated by CARE and Fitch Ratings India

Private Limited and its Tier I perpetual Bonds and Upper Tier II Bonds rated by

CARE and CRISIL Ltd. CARE has assigned the rating of "CARE AAA" for the

subordinated Tier II Bonds while Fitch Ratings India Pvt. Ltd. has assigned the

rating "AAA (ind)" with the outlook on the rating as "stable". CARE has also

assigned "CARE AAA [Triple A]" for the Banks Perpetual bond and Upper Tier IIbond issues. CRISIL has assigned the rating "AAA /Stable" for the Bank's

Perpetual Debt program me and Upper Tier II Bond issue. In each of the cases

referred to above, the ratings awarded were the highest assigned by the rating

agency for those instruments.

II. Corporate Governance RatingThe bank was one of the first four companies, which subjected itself to a Corporate

Governance and Value Creation (GVC) rating by the rating agency, The Credit

Rating Information Service of India Limited (CRISIL). The rating provides anindependent assessment of an entity's current performance and an expectation on

its "balanced value creation and corporate governance practices" in future. The

bank has been assigned a 'CRISIL GVC Level 1' rating which indicates that the

bank's capability with respect to wealth creation for all its stakeholders while

adopting sound corporate governance practices is the highest


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PRODUCT SCOPE:

HDFC Bank offers a bunch of products and services to meet the every need of the

people. The company cares for both, individuals as well as corporate and small and

medium enterprises. Forindividuals, the company has

a ran ge ac coun ts, inve stmen t , an d pen sion sche me, different types

of loans and cards that assist the customers. The customers can choose

the suitable one from a range of products which will suit their life-stage and needs.

Fororganizationsthe company hasa hos t o f cus tomized so lu t ions tha t r ange f romFunded se rv ices ,

Non-

funded se rv ices , Va lue add i t ion se rv ices , Mutua l fund e tc . These

af fordable p lans apar t f rom providing long term value to the

employees help in enhancing goodwill of the company. The products of the

company are categorized into various sections which are as follows:

Accounts and deposits.Loans.

Investments and Insurance.

Forex and payment services.

Cards.

Customer center
http://www.hdfcinsurance.com/products/individual.asphttp://www.hdfcinsurance.com/products/individual.asphttp://www.hdfcinsurance.com/products/individual.asphttp://www.hdfcinsurance.com/products/group.asphttp://www.hdfcinsurance.com/products/group.asphttp://www.hdfcinsurance.com/products/group.asphttp://www.hdfcinsurance.com/products/group.asphttp://www.hdfcinsurance.com/products/individual.asp


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PRODUCTS AND SERVICES AT A GLANCE

PERSONAL BANKING

A. Accounts & Deposits

Regular Savings Account

Savings Plus Account

Savings Max Account

Senior Citizens Account

No Frills Account

Institutional Savings Account

Payroll Salary Account

Classic Salary Account

Regular Salary Account

Premium Salary Account

Defense Salary Account

Kid's Advantage Account

Pension Saving Bank Account

Family Savings Account

Kisan No Frills Savings Account

Kisan Club Savings Account

Plus Current Account

Trade Current Account

Premium Current Account

Regular Current Account

Apex Current Account

Max Current Account

Reimbursement Current Account

RFC - Domestic Account

Regular Fixed Deposit


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Super Saver Account

Sweep-in Account

HDFC Bank Preferred

Private Banking

B. Loans

Personal Loans

Home Loans

Two Wheeler Loans

New Car Loans

Used Car Loans

Overdraft against Car

Express Loans

Loan against Securities

Commercial Vehicle Finance

Working Capital Finance

Construction Equipment Finance

Offers & Deals

Customer Center

C. Investments & Insurance

Mutual Funds- Insurance

Bonds- Financial Planning

Knowledge Centre

Equities & Derivatives

Mudra Gold Bar


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D. Forex Services Trade Finance

Travelers Cheques

Foreign Currency Cash

Foreign Currency Drafts

Foreign Currency Cheque Deposits

Foreign Currency Remittances

Cash To Master

Forex Plus Card

E. Payment Services

Net Safe

Prepaid Refill

Bill Pay

Direct Pay

Visa Money Transfer

E-Monies Electronic Funds Transfer Excise & Service Tax Payment

F.

Access Your Bank

One View

Insta Alerts

Mobile Banking

ATM- Phone Banking

Branch Network


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G.

Cards

Silver Credit Card

Gold Credit Card

Woman's Gold Credit Card

Platinum plus Credit Card

Titanium Credit Card

Value plus Credit Card

Health plus Credit Card

HDFC Bank Idea Silver Card

HDFC Bank Idea Gold Card

Compare Cards

Transfer & Safe

Track your Credit Card

H.

Get More from Your Card

Offers & Savings

My Rewards

Insta Wonderz

Add-On Cards

Credit Card Usage Guide

Easy EMI

Net safe

Smart Pay

Secure Plus

My City Benefit Card

Debit Cards

Easy Shop International Debit Card

Easy Shop Gold Debit Card

Easy Shop International Business Debit Card


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Easy Shop Woman's Advantage Debit Card

Prepaid Cards

Forex Plus Card

Kisan Card

I.

Customer Centre

Offers & Deals

Winners of Contests & Promotions

2. Wholesale Banking

A. Corporate

Funded Services

Non Funded Services

Value Added Services

Internet Banking

B. Small & Medium Enterprises

Funded Services

Non-Funded Services

Specialized Services

Internet Banking

C. Financial Institutions & Trusts

Bank

Financial Institutions

Mutual Funds

Stock Brokers


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MILESTONES IN THE HISTORY

HDFC Bank began its operations in 1995 with a simple mission: to bea "World-class Indian Bank". They realized that only a single-minded focus

on product quality and service excellence would help us get there. Today,

they are proud to say that they are well on our way towards that goal. It is

extremely gratifying that their efforts towards providing customer

convenience have been appreciated both nationally and internationally.

MERGER

HDFC Bank and Centurion Bank of Punjab merger at share swap ratio of 1:29The

Boards of HDFC Bank and Centurion Bank of Punjab met on 25 February, 2008and approved, subject to due diligence, the share swap ratio for the proposed

merger of Centurion Bank of Punjab with HDFC Bank. The Scheme of

Amalgamation envisages a share exchange ratio of one share of HDFC Bank for

twenty nine shares of Centurion Bank of Punjab. The combined entity would have

a nationwide network of 1,148 branches (the largest amongst private sector Banks)

a strong deposit base of around Rs. 1,200 billion and net advances of around Rs.

850billion. The balance sheet size of the combined entity would be over Rs.

1,500 billion. Commenting on the proposed merger,

Mr. Deepak Parekh, Chairman, HDFC

said, We were amongst the first to get a banking license, the first to do a merger

in the private sector with Times Bank in 1999, and now if this deal happens, it

would be the largest merger in the private sector banking space in India. HDFC

Bank was looking for an appropriate merger opportunity that would add scale,

geography and experienced staff to its franchise. This opportunity arose and we

thought it is an attractive route to supplement HDFC Banks organic growth.

We believe that Centurion Bank of Punjab would be the right fit in terms of

culture, strategic intent and approach to business.

Mr. Aditya Puri, Managing Director, HDFC Bank

Said, These are exciting times for the Indian banking industry. The proposed

merger will position the combined entity to significantly

Exploit opportunities in a market globally recognized as one of the fastest growing.

Im particularly bullish about the potential of business synergies and cultural fit


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Between the two organizations. The combined entity will be an even greater force

in the market.

Mr. Rana Talwar, Chairman, Centurion Bank of Punjab

Stated, Over the last few years, Centurion Bank of Punjab has set benchmarks for

growth. The bank today has a large nationwide network, an extremely valuable

franchise, 7,500 talented employees, and strong leadership positions in the market

place. I believe that the merger with HDFC Bank will create a world class bank in

quality and scale and will set the stage to compete with banks both locally as well

on a global level.

Mr. Shailendra Bhandari, Managing Director and CEO, Centurion Bank of Punjabsaid, We are extremely pleased to receive the go ahead from our board to pursue

this opportunity. A merger between the banks provides significant synergies to the

combined entity. The proposed merger would further improve the franchise

and customer proposition offered by the individualbanks.

FINANCIAL FIGUREUNAUDITED FINANCIAL RESULTS FOR THE

QUARTER ENDED JUNE 30, 2008


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QUALITY POLICY

SECURITY:

The bank provides long term financial security to their policy. The

bank does this by offering life insurance and pension products.


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TRUST:

The bank apprec ia tes the t rus t p l aced by the i r po l i cy ho lder s

in the bank. Hence, it will aim to manage their investments very carefully and

live up to this trust.

INNOVATION:

Recognizing the different needs of our customers, the bank offers arrange

of innovative products to meet these needs.

INTEGRITY

CUSTOMER CENTRIC

PEOPLE CARE ONE FOR ALL AND ALL FOR ONE

TEAM WORK

JOY AND SIMPLICITY


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CHAPTER 3- RESEARCH OBJECTIVES AND SCOPE OFRESEARCHPROJECT

PROBLEM DEFINATION:

Sales Executives were with good background human being and through

rigorous process of recruitment but still not able to perform up to the

expectation level of company, HR is not able to sort out the problem why the

performance is not coming even after giving the full marketing support.

The communication technique and dealing with the customers is also a

problem to the sales executives.

OBJECTIVES OF RESEARCH PROJECT: 3.2.1 PRIMARY

OBJECTIVES:

To open new savings accounts by convincing customers and to promote

the benefits of those which are provided by the bank?

To find the different way of convincing customers.

To study brand image of the bank.To increase the business of the bank.

SECONDARY OBJECTIVES:

To determine the need and purpose ofa sales executive.

To understand the deciding criteria for people to become sales executive.

To offer suggestions based upon the findings

GEOGRAPHICAL SCOPE:

The same problem was with the all other branches of HDFC Bank even out of theBasti city(Uttar Pradesh). The management is conducting the same research

on a big ground while my contribution is tiny. Though my sample size

and geographical area was defined and confine to a particular

territory but the application of output from the research are going to be wide


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PRODUCT SCOPE:

Studying the increasing business scope of the bank.

Market segmentation to find the potential customers for the bank.

To study how the various products are positioned in the market.

Corporate marketing of products.

Customers perception on the various products of the bank.


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CHAPTER4- RESEARCH METHODOLOGY AND LIMITATIONS

All the findings and conclusions obtained are based on the survey done

in the working area within the time limit. I tried to select the sample

representative of the whole group during my job training. I have collected data

from people linked with different profession at Basti (Uttar Pradesh).

RESEARCH PLAN: 4.1.1. Preliminary Investigation:

In which data on the situation surrounding the problems shall be gathered to arrive

atThe correct definition of the problem.

An understanding of its environment.

Exploratory Study:

To determine the approximate area where the problem lies.

RESEARCH DESIGN:

Research was initiated by examining the secondary data to gain insight into the

problem. By analyzing the secondary data, the study aim is to explore the

short comings of the present sy st emand p r imary da ta wi l l he lp to va l ida te the ana lys i s o f secondary

data besides on unrevealing the areas which calls for improvement.

DEVELOPING THE RESEARCH PLAN:

The data for this research project has been collected through self Administration.

Due to time limitation and other constraints d irect personal interview

method is used. A structured que st ion nai re was fra med as i t is les s

time consuming, generates specific and to the point information,

easier to tabulate and interpret. Moreover respondents prefer to give direct

answers. In questionnaires open ended and closed ended, both the types of

questions has been used.


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Collection of Data:-

1: Secondary Data:

It was collected from internal sources. The secondary data was collected on the

basis of organizational file, official records, news papers, magazines,

management books,preserved information in the companys database

and website of the company.

2: Primary data:

A l l the peop le f rom d i f f e ren t p ro fess ion were pe r sona l ly v i s i t ed

and interviewed. They were the main source of Primary data. The methodof collection of primary data was direct personal interview through a structured

questionnaire

SAMPLING PLAN:

Since it is not possible to study whole universe, it becomes necessary to take

sample from the universe to know about its characteristics.

Sampling Units:

Different professionals Chartered Accountants, Tax Consultants,Lawyers, Business Man, Professionals and House Wives of Basti (Uttar Pradesh).

Sample Technique:

Random Sampling.

Research Instrument:

Structured Questionnaire.

Contact Method:

Personal Interview.

SAMPLE SIZE:

My sample size for this project was 200 respondents. Since it was not

poss ible to cover the whole universe in the available time period, it was

necessary for me to take a sample size of 200 respondents


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DATA COLLECTION INSTRUMENT DEVELOPMENT:

The mode o f collection of data will be based on Survey Method and

Field Activity. Primary data collection will base on personal interview. I

have prepared the questionnaire according to the necessity of the data to be

collected.

RESEARCH LIMITATIONS:

It was not possible to understand thoroughly about the different marketing aspects

of the Financial Consultant within 45 days.

As stipend, money was not given it was difficult to continue the project work.

All the work was limited in some limited areas of Basti District(UttarPradesh) so the findings should not be generalized.

The area of research was Basti (Uttar Pradesh) and it was too vast an area to cover

within 45 days


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SUGGESTIONS:

Finally some recommendations for the company are as follows:-

T o m a k e p e o p l e a w a r e a b o u t t h e b e n e f i t o f b e c o m i n g

H D F C . B a n k s S a l e s Executive, following activities of advertisement

should be done through

1 . P r i n t M e d i a .

2 . H o a r d i n g & B a n n e r s

3 . S t a l l s i n T r a d e F a r e s

4. Distribution of leaflets containing details information..

The bank should provide life time valid ATM card to all its customers.

Minimum balance for savings account should be reduced from Rs

15000 to Rs1000, so that people who are not financially strong

enough can maintain their account properly

The company should provide a pass book to all its customers

Make people understand about the various benefits of its products. Company should organize the program in the society, so that people will be

aware about the company and different products of the bank

Company should open more branches in different cities.


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ANNEXURES

1.Questionaire

Name.....

Address...

.

Contact No (R).(O)..(M).

Dear Sir/Madam,

I am a student of LLOYD BUSINESS SCHOOL, Greater Noida

( U P . ) A n d p r e s e n t l y d o i n g a p r o j e c t o n

OPENING SAVINGS ACCOUNT BY MEETING CUSTOMERS.

I request you to kindly fill the questionnaire below and I assure you that

the data generated shall be kept confidential.

1. Your Age: ___________________

2. Education Qualification

Undergraduate

Graduate


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13. Do you know about HDFC banks recruitment policies related to salesexecutives?

Yes

No

Date.

Place. Signature

Thank You


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Bibliography

1. BOOKS Author

Marketing Management Philip Kotler

Marketing Management (3rd

Edition) V.S.Ramaswamy

Research Methodology(2nd

Edition) C.R.Kothari

2. NEWS PAPERS

TIMES OF INDIA

BUSINESS STANDARD

3. WEBSITES.

www.google.co.in

www.hdfcbank.com

www.easylib.com
http://www.google.co.in/http://www.google.co.in/http://www.hdfcbank.com/http://www.hdfcbank.com/http://www.easylib.com/http://www.easylib.com/http://www.easylib.com/http://www.hdfcbank.com/http://www.google.co.in/


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