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A
Project Report
On
“CUSTOMER RELATIONS MANAGEMENT IN
SERVICE ORGANIZATION IN INDIAN BANKING
SECTOR WITH REFERENCE TO TWO
NATIONALIZED AND TWO PRIVATE SECTOR BANK.”
Submitt! t"
Gu#$%$t U&i'%(it) *"% t+ !,% "*
M$(t% i& C"mm%-
F$-ut)/ C"mm%-
Sub#-t/ M$&$,m&t
B)S+%$!!+$ K$-++i)$
C 0 S H D($i A%t( C", A&! L K L D"(+i C"mm%-
C", B$$(i&"%
C", S$t N" / 11
U&!% t+ ,ui!$&- "*
2$)(+% m$mC 0 S H D($i A%t( C", A&! L K L D"(+i C"mm%-
C", B$$(i&"%
1
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CERTIFICATE
This is to certify that Ms. has worked and completed her Project Work
for the degree of MASTER ! "OMMER"E in the fac#lty of
"OMMER"E in the s#$ject of A MANAGEMENT on Title of project
work to $e written %Cu(t"m% R$ti"&( M$&$,m&t i& (%'i-
"%,$&i3$ti"&& #nder my s#per'ision. t is her own work and facts
reported $y her(his personal findings and in'estigations.
N$m 0 Si,&$tu% "* Gui! D$t "* (ubmi((i"&/
N$m 0 Si,&$tu% "* P%"*(("% i& C+$%,4Di%-t"%4P%i&-i5$ "* t+
I&(titut
St$m5 "* t+ I&(titut 6it+ !$t
D-$%$ti"& b) (tu!&t
2
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the #ndersigned Miss Shraddha kachhiya here $y) declare that
this project work entitled %Cu(t"m% R$ti"&( M$&$,m&t i&
(%'i- "%,$&i3$ti"&& is a res#lt of my own research work and hasnot $een pre'io#sly s#$mitted to any other *ni'ersity for any
other e+amination. here $y f#rther declare that all information
of this doc#ment has $een o$tained and presented in accordance
with academic r#les and ethical cond#ct.
C", S$t N"/ 11.
E7$m ($t &" 189: .
D$t / N$m 0 Si,&$tu%
P$- /
!,E-
3
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SR NO TOPIC PAGE NO.
4
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C%ti*i-$t 1
D-$%$ti"& b) (tu!&t ;
9. I&t%"!u-ti"& "* -u(t"m% %$ti"&(+i5m$&$,m&t
<
. ntrod#ction of "RM
./ Rational of the st#dy
.0 O$jecti'e of the st#dy
.1 Research methodology
.2 "hapteri3ation scheme
.4 5imitation of st#dy
1 Cu(t"m% %$ti"&(+i5 m$&$,m&t $
t+"%) 5%(5-ti'
91
/. 6istory of "RM
/./ Meaning of "RM
/.0 ,efinition
/.1 Ad'antages
/.2 ,isad'antages
/.4 !eed of "RM
; M$%=ti&, (t%$t,i( t" !'"5 btt%
CRM
9<
0. 7eneric strategic framework
0./ "ompetiti'e ad'antages
0.0 ,ifferentiation
0.1 8oc#s strategy
0.2 'al#e discipline model
0.4 "hallenges of implementing "RM
5
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0.9 Application of "RM in $anking sector
0.: Organi3ation learning philosophy
0.;
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Anne+#re 99>
C+$5t% 9
7
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I&t%"!u-ti"&
"*
Cu(t"m%
R$ti"&(+i5
M$&$,m&t 9.9 I&t%"!u-ti"& "* CRM
Cu(t"m% %$ti"&(+i5 m$&$,m&t CRMB has the $#siness p#rpose of intelligently
finding) marketing) selling to and ser'icing c#stomers. "RM is a $roadly #sed term that
co'ers concepts #sed $y companies) and p#$lic instit#tions to manage their relationships
with c#stomers and stakeholders. Technologies that s#pport this $#siness p#rpose incl#de
the capt#re) storage and analysis of c#stomer) 'endor) partner) and internal process
information. 8#nctions that s#pport this $#siness p#rpose incl#de Sales) Marketing and
"#stomer Ser'ice) Training) Professional ,e'elopment) Performance Management)
6#man Reso#rce ,e'elopment and compensation.
8
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• To st#dy the c#stomer satisfaction for the c#stomer relationship management of 6,8"
and "" $ank.
• To analy3e the le'el of c#stomer centric from $oth c#stomer and employee point of 'iew.
9.>R($%-+ Mt+"!"",)/
We ha'e done e+ploratory research and for that p#rpose we had #sed secondary data. We
had collected this secondary data from 'ario#s p#$lished materials like newspapers) maga3ines)
$ooks etc and from nternet we$ sites. 8rom these 'ario#s information and data we had done
D#alitati'e and D#antitati'e analysis to find o#t impact of 'ario#s forces) effect of macro
en'ironmental factors) major trends and f#t#re of the ind#stry.
9. S"u%- "* D$t$/
Primary data
Secondary data.
1. R($%-+ I&(t%um&t
Research tool were in depth inter'iew of acco#nt holder.
;. S$m5 Si3
/2= acco#nt holders
>. S$m5i&, mt+"!(
!on?pro$a$ility sampling
F#dgmental sampling
C"&t$-t mt+"!/
• 6ere we ha'e cond#cted personal inter'iew for data collection.
10
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9.?C+$5t%i3$ti"& (-+m/
C+$5t% N".9 s a$o#t the introd#ction and general information of the project which incl#des
ntrod#ction) Rationale of the st#dy) O$jecti'e of the st#dy) ,ata so#rce and methodology)
"hapteri3ation scheme and 5imitation of the st#dy.
C+$5t% N".1 s need on the f#ndamental and $asic knowledge of "RM. t incl#des history
meaning and definition) ad'antages and need of "RM.
C+$5t% N".; s a$o#t the strategies of "RM which is #sed $y the $anks for $atterment of
c#stomer relationship. t incl#de generic strategic framework) competiti'e ad'antage)
differentiation ) foc#s strategy) 'al#e discipline model challenges of implementing "RM)
and application of "RM.
C+$5t% N".> Shows the "RM in the 6,8" G "". Which incl#des ndian
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Time achie'e is considered inadeD#ate to cond#ct s#ch s#r'ey.
The res#lt of the st#dy may not $e generali3ed to all.
Some of the respondents were non co?operati'e.
C+$5t%1
CRMA
T+"%)
P%(5-ti'
12
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1.9 Hi(t"%) "* CRM/
"#stomer Relationship Management is the esta$lishment) de'elopment) maintenance andoptimi3ation of long?term m#t#ally 'al#a$le relationships $etween cons#mers and the
organi3ations. S#ccessf#l c#stomer relationship management foc#ses on #nderstanding the needs
and desires of the c#stomers and is achie'ed $y placing these needs at the heart of the $#siness $y
integrating them with the organi3ationCs strategy) people) technology and $#siness processes. At
the heart of a perfect "RM strategy is the creation of m#t#al 'al#e for all the parties in'ol'ed in
the $#siness process. t is a$o#t creating a s#staina$le competiti'e ad'antage $y $eing the $est at
#nderstanding) comm#nicating) and deli'ering) and de'eloping e+isting c#stomer relationships in
addition to creating and keeping new c#stomers. So the concept of prod#ct life cycle is gi'ing
way to the concept of c#stomer life cycle foc#sing on the de'elopment of prod#cts and ser'ices
that anticipate the f#t#re need of the e+isting c#stomers and creating additional ser'ices that
e+tend e+isting c#stomer relationships $eyond transactions. "RM is a comprehensi'e approach
for creating) maintaining and e+panding c#stomer relationship. t pro'ides seamless co?ordination
$etween c#stomer ser'ice) marketing) information technology and other c#stomer related
f#nctions. t integrates people) process and technology to ma+imi3e relationships with all the
c#stomers. t does not aim to $#ild closer relationship with all c#stomers) $#t it recommends that
organi3ations take initiati'e to identify the most 'al#a$le c#stomers $y looking for their life time
'al#e. "RM means $#ilding an interdependent relationship with the c#stomer in which each relies
on the other for $#siness sol#tions and s#ccesses.
1.1 M$&i&, "* CRM
13
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"#stomer relationship management "RMB has the $#siness p#rpose of intelligently finding)
marketing) selling to and ser'icing c#stomers. "RM is a $roadly #sed term that co'ers
concepts #sed $y companies) and p#$lic instit#tions to manage their relationships with
c#stomers and stakeholders. Technologies that s#pport this $#siness p#rpose incl#de the
capt#re) storage and analysis of c#stomer) 'endor) partner) and internal process
information. 8#nctions that s#pport this $#siness p#rpose incl#de Sales) Marketing and
"#stomer Ser'ice) Training) Professional ,e'elopment) Performance Management)
6#man Reso#rce ,e'elopment and compensation.
1.; D * i& it i" &
H"#stomer Relationship Management is a comprehensi'e approach for creating)
maintaining and e+panding c#stomer relationships .‟
H"#stomer relationship management "RMB is the dynamic process of managing a
c#stomer?company relationship s#ch that c#stomers elect to contin#e m#t#ally $eneficial
commercial e+changes and are diss#aded from participating in e+changes that are
#nprofita$le to the companyH.
%According to
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greater emphasis on c#stomer retention thro#gh loyalty?$#ilding programmes.
planning prod#ct cross?marketing strategies.
meas#ring marketing campaigns and sales acti'ities impact.
optimising) a#tomation and control of marketing) sales and ser'ice processes.
rationalisation of operations sa'ing time and money.
1.? Di($!'$&t$,(/
diffic#lt to work with.
reD#ire additional work inp#tting data.
deh#mani3e a process that sho#ld $e personal.
reD#ire contin#o#s maintenance) information #pdating) and system #pgrading costly.
diffic#lt to integrate with other management information systems
1.: N! "* CRM/
A Relationship?$ased Marketing approach has the following $enefits
O'er time) retail $ank c#stomers tend to increase their holding of the other prod#cts from
across the range of financial prod#cts ( ser'ices a'aila$le.
5ong?term c#stomers are more likely to $ecome a referral so#rce.
The longer a relationship contin#es) the $etter a $ank can #nderstand the c#stomer and
his(her needs G preferences) and so greater the opport#nity to tailor prod#cts and ser'ices
and cross?sell the prod#ct ( ser'ice range.
15
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"#stomers in long?term relationships are more comforta$le with the ser'ice) the
organi3ation) methods and proced#res. This helps red#ce operating cost and costs arising
o#t of c#stomer error
ntense "ompetition There is intense competition among the Pri'ate Sector
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C+$5t%;
M$%=ti&, (t%$t,i(
t"
!'"5
17
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b$tt%
CRM
;.9 G&%i- St%$t,i- F%$m6"%=/
%"ompetiti'e ad'antage grows f#ndamentally o#t the 'al#e a firm is a$le to create for its $#yers
that e+ceeds the firm>s cost of creating it. Kal#e is what c#stomers willing to pay and s#perior
'al#e stems from offering lower prices than competitors for eD#i'alent $enefits of pro'iding
#niD#e $enefits that more than offset a higher price.& The theory consists of three main strategies
cost leadership) differentiation and foc#sB which are shown in the fig#re /. while cost
leadership and differentiation strategies address a whole ind#stry) foc#s strategies address
specific or small cl#sters of c#stomers within an ind#stry.
;.1 C"m5titi' A!'$&t$,/
C"m5titi' S-"5/
The strategy reD#ires a firm $ankB to ser'e at the lowest cost in the ind#stry. Economies of
scale) #niD#e technology that is not a'aila$le to other firms) #sing cost effecti'e channels are
some of the ways for $eing a$le to #se the strategy. The strategic logic of cost leadership strategy
reD#ires a firm to $e cost leader) not one of the se'eral firms 'ying this position. 8or $anking
sector) a $road target cost leadership strategy itself is not a good strategy as it decreases the profit
margins e+tensi'ely which will soon $e followed $y other $anks. ThatCs why there is no
significant difference in general interest rates) loan rates) transaction fees of $ank in a sta$le
economy and $anking sector.
18
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;.; Di**%&ti$ti"&/
The aim of the strategy is to $e #niD#e in the ind#stry and this #niD#eness m#st $e 'al#a$le for
c#stomers. The #niD#eness can $e one or a set of dimensions. Areas of differentiation can $eI
prod#ct ser'ice) marketing) sales) image) deli'ery and etc. n $anking sector) differentiation can
$e crafted $y a single or a set of these dimensions. While $rand differentiation and prod#ct
differentiation wo#ld $e applica$le for $road targeting ser'ice) marketing and deli'ery
differentiation strategies wo#ld $e s#ita$le for narrow scope targeting. A $road target ser'ice
differentiation is not for $anks they are looking for profita$ility. That is why today many $anks
#se c#stomer segmentation to ser'ice its c#stomers rather than gi'en the same ser'ice to all
c#stomers.
;.> F"-u( St%$t,)/
The foc#s strategy in'ol'es concentration on partic#lar $#yer gro#ps) geographic areas or
prod#ct(market segments.
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$anks) in a recent $anking conference. Porter thinks that $anking sector is entering an era of
strategic positioning. To s#cceed in the new era) companies ha'e to deli'er something #niD#e)
$#t most $anks do what others do) what he calls) to competition. 6e stated that HThe worst thing
yo# can do is compete with yo#r ri'al on the same things. f yo# do) the competition almost
always $ecomes a destr#cti'e arms race. Strategy) is stri'ing to $e #niD#e) which reD#ired
choices.H As it can $e #nderstood) porter insists the s#ccessf#l firms can only compete with one
generic strategy) in isolation of other generic strategies. 8or many researchers this 'iewpoint is
not acc#rate. What sho#ld $e pointed o#t is the s#ccessf#l firms tend to compete with m#ltiple
strategies. "ontingent strategies are important for their s#r'i'al. 6all ;:0L 6am $rick ;:0L
Wright) ;:4) cited in Wright et al ;::B The other critical 'iew for porterCs monolithic strategy
comes from Wright ;:4 cited in Wright et al.B) he e+po#nds that in a fragmented ind#stry like
$anking) where there the many players in different si3es) it is diffic#lt to $e s#ccessf#l with
adapting one generic strategy. n $anking ind#stry) a s#staina$le competiti'e ad'antage can $e
gained with a $lend of different strategies) $#t a powerf#l foc#s differentiation strategy in ser'ice
cannot $e neglected. Prod#cts and price can $e easily copied. Ser'ice is more diffic#lt to imitate
than a prod#ct $eca#se ser'ice reD#ires c#stomer inp#t and in'ol'ement Payen /==4B.
Today) $#ilding a competiti'e ad'antage is $ased on how well a $ank ser'es its c#stomer "RM is
differentiation strategy that $anks can #se to acD#ire) grow and retain profita$le c#stomer
relationships) with the goal of creating a s#staina$le competiti'e ad'antage. n the following
part) another important competiti'e ad'antage strategy framework will $e disc#ssed and
comparisons will $e done with portersC 7eneric Strategies framework
;.? V$u Di(-i5i& M"!/
Porter>s %7eneric Strategies 8ramework& alone is not eno#gh to #nderstand the positioning
strategies of $anks in terms of "RM. Porter>s foc#s on ind#stry str#ct#re is a powerf#l means of
analy3ing competiti'e ad'antage in itself) $#t it has $een critici3ed for $eing too static in an
increasingly fast changing world. 8or a deeper #nderstanding) Michael Treacy and 8red
20
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Wieserma>s %Kal#e ,isciplines Model& has $een e+amined. This model is another important
strategic framework for market positioning which has the following 0 positioning strategiesI
Operational e+cellence
Prod#ct leadership
"#stomer intimacy
"RM can $e strategically em$edded partic#larly in two of the three 'al#e disciplines B
Operational E+cellence) and /B "#stomer ntimacy. With c#stomer intimacy) Wieserma ;;:B
shows how companies can profit from esta$lishing closer) more co?operati'e c#stomer
relationships. With operational e+cellence) firms aim to ha'e economical) efficient processes
whose res#lting deli'ered 'al#es to c#stomers are low prices and ser'ice con'enience.
Wieserma G Treacy ;;4B. 8irms applying c#stomer intimacy foc#s on knowing the c#stomer
and $#ilding close relationships with these c#stomers. "RM is often solely related to the
c#stomer intimacy 'al#e discipline. f "RM is em$edded in a c#stomer intimacy strategy) then
"RM will $e relationship?oriented. 8irms em$edding "RM in an operational e+cellence strategy
foc#s on cost? red#ctions and raising the D#ality of the c#stomer interaction process thro#gh
process impro'ements.
;.: C+$&,( "* Im5m&ti&, CRM/
The challenges faced $y many of the $anks whilst implementing "RM can $e s#mmari3ed as the
followingsI
7etting management sponsorship
#ality of c#stomer data
Alignment iss#e Alignment of people and processesB
5ack of skilled people
,etermining the right time for c#stomer needs
21
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*sing c#stomer data more intelligently
ncorporating c#stomer data and c#stomer preferences to the c#stomer data $ase
*sing right technologies
Real time data cross all c#stomer channels
6a'ing 04=? degree 'iew of c#stomers Single 'iew of c#stomersB
The retail $anking market is fiercely competiti'e and sat#rated Pili /==4B. The competition is
forcing $anks to find new ways of satisfying c#stomers and D#ick adaptation to changes. The
competition among the $anks itself is also 'ery major domestic players on the arena.
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any other good $ank which is implementing "RM as $enchmarks) which ha'e more fle+i$le and
inno'ati'e c#lt#res and where organi3ational str#ct#re is flatter. The charge of mindsets m#st
start from the management le'el and contin#e to the all the le'el of the organi3ation with the
s#pport of management. At this point a paradigm shift is needed which can $e s#mmari3ed as
followsI
A c#stomer centric and relationship?oriented c#lt#re m#st $e adopted instead of
operation centric and sales oriented c#lt#re.
ManagementCs attit#de to employee m#st $e proacti'e instead of $eing
reacti'eL instead of employee compliance) contin#o#s impro'ement m#st $e
s#pported.
Training c#lt#re m#st $e impro'ed to organi3ation learning philosophy where
self?learning is s#pported.
Employee m#st $e empowered in order to carry on their responsi$ilities faster
and efficiently.
Teamwork and coaching m#st $e de'eloped) instead of indi'id#ation.
Meas#rement $asis m#st $e o$jecti'e) fair and transparent. Employee m#st $e
moti'ated $y rewards and s#pporti'e attit#de of their managers. 5eaders play an important role
in this change process. So that $anks can in'est in e+perienced professionals with leadership
skill) which can infl#ence the organi3ation to enco#rage and con'ince for change.
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;. O%,$&i3$ti"&$ L$%&i&, P+i"("5+)/
Organi3ational learning is more than pro'iding training sessions to employees when it is neededL
it is a philosophy.
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so it m#st promote its s#perior capa$ilities $etter a $#ild a strong $rand. They can #se more
ad'ertisements on TK) newspapers) and maga3ines) nternet etc.
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n order to retain c#stomers and increase e+isting c#stomersC share of wallet)
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C+$5t%>
CRM i& T6"
N$ti"&$i3! $&! T6"
P%i'$t S-t"% B$&=
27
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>.9 I&!i$& b$&=i&, (-t"%/
The Reser'e s
go'ernment owns $anks dominated market. Their performance has $een mi+ed) with a few $eing
consistently profita$le. Se'eral p#$lic sector $anks are $eing restr#ct#red and in some the
go'ernment either already has or will red#ce its ownership.
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management were esta$lished in the co#ntry namely) P#nja$ national $ank ltd) $ank of ndia ltd.
"anada $ank ltd) ndian $ank ltd) the $ank of
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BANKING INSTITUTIONS
"ommercial Regional R#ral "o?operati'e
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S#$sidiary
"ompanies "entral(,istrict
"o?Op
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Primary 5and
S#$sidiary "ompanies ,e'elopment
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The co?operati'e $anking sector has $een de'eloped in the co#ntry to the s#pplement the 'illage
money lender. The co operati'e $anking sector in ndia is di'ided into : componentsI
. State co?operati'e $ank
/. "entral co?operati'e $ank
0. Primary agric#lt#re credit societies
1. 5and de'elopment $anks
2. *r$an co?operati'e $anks
4. Primary Agric#lt#re de'elopment $anks
9. Primary land de'elopment $anks
:. State land de'elopment $anks
• D'"5m&t b$&=(/
. nd#strial finance corporation 8"B
/. nd#strial de'elopment $ank of ndia ,
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>.1 Cu(t"m% R$ti"&(+i5 M$%=ti&,/
Traditional marketing theory and practice ha'e foc#sed on attracting new c#stomers rather than
retaining e+isting ones. Today) howe'er) altho#gh attracting new c#stomers remains an important
marketing task) the emphasis has shifted toward Relationship Marketing @ creating) maintaining)
and enhancing strong relationships with c#stomers and other stake holders.
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ATTRACTING RETAINING AND GROWING CUSTOMERS/
The key to $#ilding lasting relationship is the creation of s#perior c#stomer 'al#e and
satisfaction. Satisfied c#stomers are more likely to $e loyal c#stomers) and loyal c#stomers are
more like to gi'e the company a larger share of their $#siness. We now look more closely at the
concepts of c#stomer 'al#e and satisfaction) loyalty and retention) and share of c#stomer.
>.; R$ti"&(+i5 Bui!i&, B"-= Cu(t"m% S$ti(*$-ti"&
Attracting and retaining c#stomers can $e a diffic#lt task. Today>s c#stomers face a 'ast array of
prod#ct and $rand choices) prices and s#ppliers. The company m#st answer a key D#estionI how
do c#stomers make their choices The answer is that c#stomers choose the marketing offer that
they $elie'e will gi'e them the most 'al#e. They are satisfied with and contin#e to $#y offers
that consistently meet or e+ceed their 'al#e e+pectations. 5et>s look more closely at c#stomer
'al#e and satisfaction.
35
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u$it)/
The totality of feat#res and characteristics of a prod#ct or ser'ice that $ear on its a$ility to
satisfy stated or implied needs is called D#ality.
V$u !i'%) &t6"%=/
The network made #p of the company) s#pplier) distri$#tors) and #ltimately c#stomers who
%partner& with each other to impro'e the performance of the entire system.
C"(t/
Today>s most s#ccessf#l companies are raising e+pectations @ and deli'ering performance to
match. These companies em$race total c#stomer satisfaction. 8or e+ample) 6onda climes
%one reason o#r c#stomers are so satisfied is that we aren>t&. "igna 'ows %==J satisfaction.
==J of the Time.& S#ch companies track their c#stomers> e+pectations) percei'ed company
performance) and c#stomers satisfaction relati'e to competitors) it does not attempt to
ma+imi3e c#stomer satisfaction. A company can always increase c#stomer satisfaction $y
lowering its price or increasing its ser'ices) $#t this may res#lt in lower profits. Th#s) the
p#rpose of marketing is to generate c#stomer 'al#e profita$ly. This reD#ires a 'ery delicate
$alance.
36
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>.> HDFC B$&= P%"*i/
6,8"
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treas#ry. The retail $anking segment ser'es retail c#stomers thro#gh a $ranch network and other
deli'ery channels. This segment raises deposits from c#stomers and makes loans and pro'ides
other ser'ices with the help of specialist prod#ct gro#ps to s#ch c#stomers. The wholesale
$anking segment pro'ides loans) non?f#nd facilities and transaction ser'ices to corporate) p#$lic
sector #nits) go'ernment $odies) financial instit#tions and medi#m?scale enterprises. The
treas#ry segment incl#des net interest earnings on in'estments portfolio of the
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90/ !os. They also e+panded their presence in the Cmerchant acD#iringC $#siness. ,#ring the year
/==0?=1) the
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network from )9/2 $ranches in 99; cities to );:4 $ranches in ;;4 ndian cities. The .;.1 Hi(t"%) HDFC B$&=/
;;1 ? The
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? The
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? 6,8"
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? The $ank will also pro'ide phone?$anking facility in
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/===? 6,8"
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with an online payment gateway sol#tion to ena$le them to ha'e a sec#re eshopping e+perience.
? 6,8"
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? The M#m$ai?$ased 7eojit Sec#rities 5td. has tied #p with 6,8"
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? 6,8"
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? 5Ttrade.com has entered into a strategic tie?#p with 6,8"
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? 6,8"
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? 6,8"
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? 6,8"
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?6,8"
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/==; ? 6,8"
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? ndiaCs pri'ate $anking major )6,8"
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c#stomer e+perience co#ld pro'ide a s#stained edge m#ch needed to maintain its growth rate in
spite of increasing $alance sheet si3e.
The $ank fo#nd an answer in a two prong strategy which incl#ded raising the $ar for its internal
processes altho#gh the $ank were already o#tperforming the ind#stryB to preser'e profita$ility
and ens#ring consistency of information and actions across channels to create an #nmatched
c#stomer e+perience ? gaining tr#st and loyalty to s#stain the growth trajectory.
6owe'er) despite the clarity in strategy) e+ec#tion was a challenge. S#ch a radical strategy was
first of its kind and faced tremendo#s risk d#e to inherent comple+ity and technological
challenges) considering the transformation had to happen across a geographically distri$#ted
team) witho#t hampering $#siness and at a pace that kept it rele'ant. Also it needed to
streamlining deli'eries keeping in mind the readiness and the gro#nd realities.
Another challenge was le'eraging the data wareho#se to $#ild intelligence on c#stomers and
deploying this information at 'ario#s to#ch points to help ma+imi3e c#stomer life cycle 'al#e.
Technologically) scala$ility of the system gi'en the large data 'ol#mes) 22)===U #ser $ase)
workflow comple+ities) integration) synchroni3ation and incremental #pdates was no less
challenging either.
Aware of gro#nd realities) the $ank foc#sed on finding a sol#tion with an architect#re capa$le of
managing o'er 22)=== #sers ser'ing o'er /2 million c#stomers. t also needed an implementation
partner with e+tensi'e $anking domain knowledge and capa$ility to e+ec#te the 'ision.
The $ank selected "RM ne+tCs sol#tion which promised to f#lfill the $anks needs. Some of the
key capa$ilities offered $y the sol#tion incl#dedI
55
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>.?. ICICI B$&= P%"*i
""
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/)=02 $ranches and a$o#t 2)2: ATMs in ndia and presence in : co#ntries. They ha'e
s#$sidiaries in the *nited Ningdom) R#ssia and "anada) $ranches in *nited States) Singapore)
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$ranches G e+tension co#nter from 922 !os to )/4/ !os) incl#ding the addition of a$o#t /==
$ranches thro#gh the merger of Sangli
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7o'ernment of ndia and representati'es of ndian ind#stry. The principal o$jecti'e was to create
a de'elopment financial instit#tion for pro'iding medi#m?term and long?term project financing
to ndian $#sinesses.
n the ;;=s) "" transformed its $#siness from a de'elopment financial instit#tion offering
only project finance to a di'ersified financial ser'ices gro#p offering a wide 'ariety of prod#cts
and ser'ices) $oth directly and thro#gh a n#m$er of s#$sidiaries and affiliates like ""
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>.:.9P%"*iSt$t B$&= "* I&!i$
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segments) namely Treas#ry) "orporate( Wholesale
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c#stomer loyalty and home loans. S
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f#nd. ,#ring the year) State
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was la#nched on a pilot $asis in M#m$ai and "hennai in 8e$r#ary /=. ,#ring the first D#arter
of the financial year /=?/) the 7o'ernment of ndia iss#ed the CAcD#isition of State
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;99 ? ,#ring the year $ank introd#ced the Perennial Pension Plan Scheme #nder which if the
depositors make a reg#lar monthly payment of a fi+ed amo#nt for a period of :1 to 0/ months)
they $ecome eligi$le from the :4th and 01th months respecti'ely for getting a monthly pension
of predetermined amo#nt fore'er.
n order to meet all the de'elopmental needs of the 'illages incl#ding their social and c#lt#ral
needs) the $ank la#nched an integrated r#ral de'elopement programme) aimed at not only
co'ering the credit needs of agric#lt#re and agric#lt#ral acti'ities and 'illage ind#stries) $#t also
ho#sing and social acti'ities.
;:= ?
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iiB E'ery person who on the 0=th F#ne) ;22) was registered as a holder of shares in the
mperial
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;:; ? S
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preferential $asis to ndian 8inancial nstit#tions and ndian M#t#al 8#nds.
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;;9 ? Shares iss#ed to employees of the $ank $earing distincti'e n#m$ers 14)/4)==)== to
19)14)==)=== will not $e good deli'ery. The rights iss#e was for / crore eD#ity shares at a
premi#m of Rs.2= aggregating Rs.9/= crore in addition to a f#rther iss#e of ./ crore eD#ity
shares of Rs.= at a premi#m of Rs.2= aggregating Rs.9/ crore for State
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The State
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According to an agreement entered into with the de'elopment $ank) State
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The State
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The
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State
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?E N Thak#r resigns from ,irectorship of S
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as domestic operations and 8ore+ operations. They also offer r#ral $anking ser'ices) which
incl#de deposits) priority sector ad'ances) remittance) collection ser'ices) pension and lockers.
They also offer fee $ased ser'ices s#ch as cash management and remittance ser'ices. The
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project in affiliation with KSA. n the year /==1) The So#th 7#jarat 5ocal Area
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pro'ince.YAlso) the online 6ome 5oan application facility was made a'aila$le with tracking of
stat#s of the application from F#ly /=) /==:. ,#ring the year /==;?=) the
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s#$sidiariesB. A $ranch was opened at lford) Esse+ *NB and fi'e Electronic
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;4;? The
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? The $ank had esta$lished a new department to act as c#stodian of local shares iss#ed $y ndian
companies who came o#t with E#ro ss#es 7,Rs(A,RsB to raise f#nds from a$road. With this
in 'iew) the $ank entered into an agreement with
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?
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?
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?
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?
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?
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/==0?,ecreases interest on domestic term deposits $y /2?92 $asis points across different
mat#rities effecti'e Fan#ary =)/==0
?7ets go't. appro'al to raise Rs 4== crore thro#gh $onds
?*n'eils S#per Sa'ings Acco#nt) sa'ings acco#nt with 'al#e added propositions
?Appoints
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has appointed ,r. A N Nhandelwal) E+ec#ti'e ,irector E,B of
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?
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/==;?
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C+$5t%?
ANALJSIS
AND
92
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INTERPRETATION
OF DATA
P%("&$ !t$i(I
.9. AGE GROUP
A7E 7RO*P !O. O8RESPO,E!TS
PER"E!TA7E
2 @ /1 02 1J
/2 @ 01 19 ;J
02 @ 11 2/ /J
12 @ 21 2: /0J
22U 2: /0J
93
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94
15 - 24 25 - 34 35 - 44 45 - 54 55+
0%
5%
10%
15%
20%
25%
14%
19% 21%
23% 23%
PERCENTAGE
PERCENTAGE
I&t%5%t$ti"&/
Majority of the respondents are coming #nder the age gro#p of a$o'e 22 and 12 to 21. /J and
;J respondents are coming #nder the age gro#p of 02 to 11 and /2 to 01 respecti'ely. Kery few
respondents are coming #nder the age gro#p of 2 to /1.
.1. OCCUPATION/
O""*PATO! !O. O8
RESPO,E!T
S
PER"E!TA7
E
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95
Business Agricu!ure "er#ice "!u$en!
0%
5%
10%
15%
20%
25%
30%
35%40%
45%42%
12%
36%
10%
PERCENTAGE
PERCENTAGE
I&t%5%t$ti"&/
Majority of the respondents are doing $#siness and ser'ice i.e. 1/J and 04J respecti'ely. Kery
few respondents are doing agric#lt#re and st#dy i.e. /J and =J respecti'ely.
.; A&&u$ F$mi) I&-"m
8AM5
!"OME
!O. O8
RESPO,E!T
S
PER"E!TA7
E
$elow /===== : 0/J
/=====?/;;;;; :; 04J
0=====?0;;;;; 00 0J
1=====?1;;;;; 19 ;J
95
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96
1 2 3 4
0%
5%
10%
15%
20%
25%
30%
35%
40%
32%
36%
13%
19%
PERCENTAGE
PERCENTAGE
I&t%5%t$ti"&/
0/J and 04J respondents are coming #nder the income gro#p of $elow /) ==)=== and /) ==)===
to /) ;;);;;. ;J respondents are coming #nder the income gro#p of 1) ==)=== to 1) ;;) ;;;.
Other respondents are coming #nder the income gro#p of 0)==)=== to 0);;);;;.
.>. I& 6+i-+ "* t+ *""6i&, b$&=( !" )"u +$' $& $--"u&t
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CC &'(C "B B)B )T&ER
0
0*05
0*1
0*15
0*2
0*25
0*3
0 0 0 0 0
18%
10%
26%
21%
25%
Bn,
PERCENTAGE
I&t%5%t$ti"&/
:J and =J respondents ha'e $ank acco#nt with "" and 6,8". /4J
and /J respondents ha'e $ank acco#nt with S
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98
6P stock
acco#nt
0 /J
"#ing Curren! Recuring .n Acc*'e/.si! cc.un!&P s!.c, cc.un!
0%
5%
10%
15%
20%
25%
30%
35%
32%
16% 16%13%
10% 12%
TYPE OF ACCOUNT
I&t%5%t$ti"&/
Majority of the respondents ha'e sa'ing acco#nt i.e. 0/J. 4J and 4J respondents ha'e
c#rrent and rec#rring acco#nt respecti'ely. Kery few respondents ha'e loan acco#nt) deposit
acco#nt and 6P stock acco#nt with the $ank i.e. 0J)=J and /J respecti'ely.
.: R(5"&( %$ti&, "* b$&=i&, (t$**.
RESPO!SE
RATE
!O. O8
RESPO,E!TS
PER"E!TA7
E
E+cellent 0= /J
Kery 7ood := 0/J
7ood :2 01J
Poor 02 1J
98
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Kery Poor /= :J
Eceen! er G..$ G..$ P..r er P..r
0%5%
10%
15%
20%
25%
30%
35%
40%
12%
32% 34%
14%
8%
RESPONSE RATING
I&t%5%t$ti"&/
Majority of the respondents feel good when they meet to the $ank>s staff i.e.01J) 0/J
respondents feel 'ery good when they meet to the $ank>s staff. Kery few people think that the
$eha'io#r of the $ank staff is poor and 'ery poor i.e. 1J and :J respecti'ely.
< H"6 m$&) tim )"u 'i(it b$&=
KST ! A
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100
0102030405060708090
80 90
30
50
FREQUENCY OF VISIT IN A BANK
"es
I&t%5%t$ti"&
Majority of the they 'isit in a $ank o#t of /2= i.e.;= and 2= are respondents twice in week and
once in D#arter and o#t of /2= are in only 0= and := are 'isit in $ank once in week and once in
month.
. T" 6+"m !" )"u mt 6+& )"u 'i(it t+ b$&=
W6OM O*
MEET
!O. O8
RESPO,E!T
S
PER"E!TA7
E
"ashier 9= /:J
Manager 4= /1J"RM Manager 29 /0J
Other Staff 40 /2J
100
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28%
24%23%
25%Csier
nger
CR nger
)!er "!
I&t%5%t$ti"&/
Majority of the people meet "RM manager when they came at $ank i.e./0J) /1J and /:J
respondents are meet manager and cashier respecti'ely. Kery few respondents meet other staff.
.@ A% )"u ($ti(*i! 6it+ t+ %(5"&( 5%"'i!! b) t+ (t$** mmb%(
SATS8 WT6
STA88
MEM
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N)* )( RE"P)'ENT"
74
76
78
80
82
84
86
88
90
80
90
I&t%5%t$ti"&/
O#t of the /2= respondents :: respondents are satisfied with the $ank and 4/ respondents are
dissatisfied. This shows that $ank staff mem$ers are 'ery co?operati'e and responsi'e.
98 D" )"u +$' $&) b$&= "$&
B$&= "$& N". "* %(5"&!&tes 29
!o ;0
102
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es N.
0
20
40
60
80
100
120
140160
157
93
No. of Respondent havn! "an# $oan
N.* . Res/.n$en!
I&t%5%t$ti"&
Majority of the respondents ha'ing $ank loan i.e. 29 respondents. There are only ;0
respondents who does not ha'ing $ank loan. This shows that majority of the respondent are
taking loan from $ank.
99 W+$t =i&! "* "t+% (%'i-( 5%"'i!! b) b$&=
OTHER SERVICES NO.OF RESPONDENT
5oans 09ATM ;=
"redit cards 0
!et $anking =
103
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104
37
190
13 10
Othe% Se%v&es p%ovded "' Ban#
.ns
AT
Cre$i! Cr$s
Ne! Bn,ing
I&t%5%t$ti"&/
Majority of the respondents #se ATM ser'ices pro'ided $y the $ank i.e ;= respondents. Only 09
respondents take loan. Kery few respondents #se credit card and net $anking i.e. 0 and =
respondents respecti'ely.
91 H"6 !" )"u =&"6 $b"ut t+ (%'i-(
SERVICES NO.OF RESPONDENTAd'ertisement /
,irect selling agent :2
8riends G Relati'es /0
Other So#rces 0=
104
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105
0
20
40
60
80
100
120112
85
23 30
No. of Respondent
N.* . Res/.n$en!
I&t%5%t$ti"&/
Majority of the respondents are come to know a$o#t the ser'ices $y ad'ertisement i.e. /
respondents. :2 respondents are come to know a$o#t the ser'ices $y direct selling agent. Kery
few respondents are come to know a$o#t the ser'ices $y friends(relati'es and other so#rces i.e./0 and 0= respondets respecti'ely
.9; A% )"u ($ti(*i! 6it+ t+ (%'i-( 5%"'i!! b) t+ b$&=
SATS8 WT6
SERK"ES
!O. O8
RESPO,E!T
S
PER"E!TA7
E
6ighly satisfied 2; /1JSatisfied /0 1;J
"anCt say 19 ;J
*nsatisfied 2 4J
6ighly
#nsatisfied
=4 /J
105
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106
59
123
4715 6
NO. OF RESPO(ENTS
I&t%5%t$ti"&/
Majority of the respondents are satisfied with the ser'ices pro'ided $y $ank i.e. 1;J. /1J
respondents are highly satisfied. ;J respondents are not a$le to say anything a$o#t the $ank
ser'ices. Kery few respondents are dissatisfied and highly dissatisfied with the ser'ices pro'ided
$y $ank i.e. 4J and /J respecti'ely.
.9> ATM (%'i- i( $(i) $'$i$b i& )"u% $%$
ATM SERK"E
AKA5A
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107
N)* )( RE"P)'ENT" PERCENTAGE
0
50
100
150
200
250
es
N.
22700%
91%
2300%
9%
es N.
I&t%5%t$ti"&/
Majority of the respondents ha'e easy access of the ATM>s i.e. //9 respondents. Only /0
respondents are not a$le to find ATM>s easily. ATM is now 'ery important and it m#st $e easily
a'aila$le.
.9? B$&= (t$** ,i' )"u u(*u $!'i- "& )"u% i&'(tm&t "% "$& !-i(i"&
*SE8*5
A,K"ES
!O. O8
RESPO,E!T
S
PER"E!TA7
E
es ;0 99J
!o 29 /0J
107
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108
N)* )( RE"P)'ENT" PERCENTAGE
0
20
40
60
80
100
120
140
160
180
200
19300%
77%
5700%
23%
es N.
I&t%5%t$ti"&/
Majority of the respondents feel that $ank>s staff gi'e them good ad'ice a$o#t an in'estment
and loan related decisions. Kery few people are not agree with them i.e. ;2 and 22
respondents respecti'ely.
.9: B$&= %mi&! $b"ut &6 (-+m
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N)* )( RE"P)'ENT" PERCENTAGE
0
50
100
150
200
250
20500%
82%
4500%
18%
es N.
I&t%5%t$ti"&I
Majority of the respondents are feel that $anks are aware a$o#t the reminding new schemes
while other are not agree with them i.e. /=2 and 12 respecti'ely. People sometime not aware
a$o#t the new schemes. t is 'ery important to remind them a$o#t this.
.9< I( )"u% b$&= %(5"&!i&, t+ -u(t"m% u%) 5%"5%)
RESPO!,!7
"*STOMER
!O. O8
RESPO,E!T
S
PER"E!TA7
E
es :2 91J
!o 42 /4J
109
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N)* )( RE"P)'ENT" PERCENTAGE
0
20
40
60
80
100
120
140
160
180
20018500%
74%
6500%
26%
es N.
I&t%5%t$ti"&/
O#t of the /2= respondents :2 respondents are feel that $ank>s staff is gi'e respond properly.
Other 42 respondents are not agree with them. "#stomer ha'e so many D#eries and it is 'ery
important to gi'e them proper response.
.9 IS )"u% b$&= +$'i&, CRM
"RM !O. O8RESPO,E!T
S
PER"E!TA7E
es //2 ;=J
!o /2 =J
110
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100%
0%
Yes
N)* )( RE"P)'ENT"
PERCENTAGE
I&t%5%t$ti"&/
Majority of the respondents fo#nd "RM in the $anks i.e. //2 respondents. Kery few respondents
not fo#nd "RM in the $ank.
111
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112
C+$5t%:
C"&-u(i"&
$&! R-"mm&!$ti"&
C"&-u(i"& $&! R-"mm&!$ti"&
Relationship marketing has ne'er $een gi'en importance in co?operati'e sector $anks in ndia.
With the li$erali3ation in ;; on what the competition started increasing in p#$lic sector $anks
and pri'ate sector $anks) the co?operati'e $anks started to pay attention to the relationship
marketing. The inno'ati'e technologies) $etter #nderstanding of c#stomers) $etter #nderstanding
of c#stomer perceptions) can gi'e an idea of keeping good relations with the c#stomers. ts
marketing people sho#ld $e thro#gh with knowledge of the prod#ct and their feat#res) which will
lead to attract more and more n#m$er of in'estors. The n#m$er of ATM centers sho#ld $e
112
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113
increased so that it wo#ld $e stand as assets for them at the time when they reD#ire the attention
of the in'estors. To make foc#s on the r#ral side $eca#se there is lot of potential in this part
where m#ch of concentration is not made rather then ha'ing a f#ll flagged $ranch $ank has to
de'elop its mo$ile $ranch like that of the other go'ernment $anks so as to e+pand its area
towards 'illages and towns. t foc#ses only on the areas) which are flo#rished with or where
there is a$#ndant of money) here they are lacking $ehind $eca#se per the e+perience now a days
in r#ral areas also there is lot of potential for this type of $ank.
BIBLIOGRAPHJ
REFERENCE BOOKS
• %Research Methodology for
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MAGAZINE
•
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!ame I ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ.
7ender I Male 8emale
Age I ZZZZZZZZZZZZZZZZ
Ed#cation I ZZZZZZZZZZZZZZZZZ
Occ#pation I ZZZZZZZZZZZZZZZZZ
Place I ZZZZZZZZZZZZZZZZZ
. Ann#al 8amily ncome
a.B
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a.BOnce in week $.B Twice in week
c.BOnce in a month d.BOnce in D#arter
4.To whom do yo# meet when yo# 'isit the $ank
aB"ashier $B.Manager
c.B"RM manager dB.other staff
9. Are yo# satisfied with the response pro'ided $y the staff mem$ersaBes $.B!o
:. ,o yo# ha'e any $ank loan
a.Bes $.B!o
;.What kind of other ser'ices pro'ided $y the $ank
a.B5oan $.BATM
c.B"redit card d.B!et $anking
=.6pw do yo# know a$o#t the ser'ices
a.BAd'ertisement $.Bdirect selling agent
c.Bfriends G relati'es d.BOther so#rces
. Are yo# satisfied with the ser'ices pro'ided $y the $ank
aB6ighly satisfied
$BSatisfied
116
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cB"an>t say
dB*nsatisfied
eB6ighly #nsatisfied
/. ATM ser'ice is easily a'aila$le in yo#r area
a.Bes $.B !o
0.
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Than# 'o)