PROJECT REPORT ON A Detailed Analysis of Retail Banking in Current Account At KOTAK Mahindra bank limited With Special Reference

to Current A/C

Think KOTAK Think Investment

Submitted in Partial fulfillment of the requirement for the award of Degree of Bachelor of Business Administration From The University of Rajasthan

Submitted by: AVI VIJAY B.B.A. Part III

SUBHODH INSTITUTE OF MANAGEMENT & CAREER STUDIES Jaipur (Rajasthan)

Guide Certificate
This is to certify that Mr. Avi Vijay, student of B.B.A 3rd year of Subodh Institute of Management and Career Studies, Jaipur has completed the project study titled A Detailed Analysis of Retail Banking at KOTAK MAHINDRA BANK Limited with Special Reference to Current A/C under my guidance. It his own work to the best of my knowledge. I wish him all success in his all future ventures.

Dr. Jyotsna Mehta S.I.M.C.S , Jaipur

STUDENT DECLERATION
I here by declare that this project report titled Detailed Analysis of Retail Banking in Current A/Chas been successfully completed at KOTAK MAHINDRA BANK towards partial fulfillment of the required for the award of the degree MBA from Pacific Institute of Management & Technology, Udaipur. This is an original manuscript developed by me and has not been furnished from any source thereof. It has not formed the basis for award of any degree, diploma or any other such titled by this institute or any other university.

MUKESH KUMAR SHARMA MBA 3rd Semester

Acknowledgment
It was a great privilege and honor to have an opportunity to undertake summer training at the KOTAK MAHINDRA BANK LIMITED, JAIPUR. I pay my sincere thanks to my project guide Mr. R.P. Shrimali for guiding me in my summer training and giving me an opportunity to work with the KOTAK MAHINDRA BANK LIMITED, JAIPUR, an organization of repute. It is my pleasure to have support of Mr. Abhishek Gupta, Branch Sales Manager at KOTAK MAHINDRA BANK, Jaipur. I would also like to express my sincere and special thanks to Branch Manager Mr. Sanjay Rajoria for giving us this opportunity to work upon. I am also indebted to all the other member of the team of KOTAK MAHINDRA BANK, Jaipur for all the encouragement, inspiration and valuable suggestion made, as and when required. Last but not least I would like to extend my heartiest thanks to all those customers whom I met in concern of this project. To a great extent I am very thankful to all friends for motivating me for this hard work Mukesh Kumar Sharma MBA 3rd Semester

EXECUTIVE SUMMARY
As we know that the banking industry in financial sector. There are lots of opportunity and awareness to enhance the economy. There are many nationalized and private bank are overcome with competition that who will the best service provider bank in present era there cannot be any economic or financial activities without an institution like bank. A well structured systematic banking system is needed for economic development bank promotes capital building and investment the commercial bankers oldest institutions having a widest network of branches. As my banking concern I got the experience in KOTAK MAHINDRA BANK Ltd. The product charges were higher as compare to national bank it gives challenge to convince the customer. In this bank customers are limited because of high charge for opening the A/C no. doubt bank has quick service have a net banking , mobile banking. ATM advantage rather it is more expensive for the middle class customer actually. As a researcher I got the main objective for the bank. -To provide the KOTAK MAHINDRA BANK information regarding various competitors. -To help the researcher in knowing out the various kinds of services provided by different banks. -To study the various functionings of banks. -To study the different products of banks. -To provide the researcher tough field knowledge. -To judge the customer satisfaction regarding their banks.

As the banking system plays a crucial role in the development of the economy it was felt that reforms were necessary to improve the efficiency of the system and to offer better services at a reasonable price to customers. The banking org also provide the quality service for their new product the customer has come to occupy center stage and he is the beneficiary of the increasing competition. The vice-chairman of KOTAK MAHINDRA BANK Limited says "It is survival of the fittest The industry as per the figures available is not less than Rs. 5500 cores only from the foreign countries and think if talk of the entire funds from internal as well as external sources. Marketing of the brand new product keeping in mind the risk and keeping patience at the same time was a great experience. The product no doubt was available in the market offered by all the banks in India. But convincing the Customers is not an easy task. Also time taken by them was too much. But after the completion it is great to pen down this report and regaining the entire period of the project and the work done which has been shared in the report.

Preface
People have always regarded as important in managing organizations their centrality has become sharper in todays changing world In the gathering of facts and data for my project on Current Account I had adopted diff. tech. & sampling methods as I discussed in this report On making the project report on KOTAK MAHINDRA BANK Limited I had found & get experience on diff. products, policies & customer relationship & various present and future policies of bank. About the report This report is a mixture of survey that I had conducted over diff. people as well as study of features, policies future planning, company profile, history of banking Etc. I have also given recommendation & conclusion after my study and survey for that I had taken help and guidance of my teachers my team leader, various websites books I have tried my level best for this project report.

Content & structure This report is divided into six chapters. The first chapter discusses:- company profile, history of banking in India, list of board of directors. The second chapter discusses:- project profile & introduction to project The third chapter discusses:- research Methodology The fourth chapter discusses: - , Data analysis & Interpretation, The fifth chapter discusses: - conclusion, The six chapter discusses: - recommendation, Annexure: - bibliography, questionnaire The report is accompanied by an instructors manual, which offers general guideline on making project report.

TABLE OF CONTENTS CHAPTER I

1.
(A) (B) (C) (D)

COMPANY PROFILE ABOUT KOTAK MAHINDRA GROUP HISTORY OF BANKING IN INDIA LIST OF BOARD OF DIRECTORS OUR HISTORY

CHAPTER II PROJECT PROFILE (1) STUDY OF EXISTING AND POTENTIAL CUSTOMER OF KMBL. (2) INTRODUCTION TO PROJECT (A)CREATING BANKING HISTORY (B) COMPLETE BANKING CHAPTER III RESEARCH METHODOLOGY CHAPTER IV DATA ANALYSIS & INTERPRETATION METHODS OF DATA COLLECTION CHAPTER V CONCLUSION CHAPTER VI RECOMMENDATION ANNEXURE (A) BLIOGRAPHY

COMPANY PROFILE

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ABOUT KOTAK MAHINDRA GROUP

KOTAK MAHINDRA GROUP KOTAK Mahindra is one of India's leading financial institutions, offering complete financial solutions that encompass every sphere of life. From commercial banking, to stock broking, to mutual funds, to life insurance, to investment banking, the group caters to the financial needs of individuals and corporate. The group has a net worth of around Rs.1, 700 cores and employs over 4,000 employees in its various businesses. With a presence in 74 cities in India and offices in New York, London, Dubai and Mauritius, it services a customer base of over 5, 00,000. KOTAK Mahindra has international partnerships with Goldman Sachs (one of the world's largest investment banks and brokerage firms), Ford Credit (one of the world's largest dedicated automobile financiers) and Old Mutual (a large insurance, banking and asset management conglomerate) THE JOURNEY SO FAR...

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KOTAK MAHINDRA is one of the leading financial companies of India giving a complete solution to every investment planning, that's why we say "THINK INVESTMENT.THINK KOTAK". From commercial banking, to stock broking, to mutual funds, to life insurance, to investment banking, the group caters to the financial needs of individuals and corporate. The group has a net worth of Rs. 2500 cores and employs around 6700 employees across its various businesses and has a distribution network of branches, franchisees, representative offices and satellite offices across 250 cities and towns in India and offices at New York, London, Dubai and Mauritius. The group services over 1.6 million customer accounts.

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KOTAK MAHINDRA has international partnerships with Goldman Sachs (one of the world's largest investment banks and brokerage firms) and Old Mutual (a large insurance, banking and asset management conglomerate).

KOTAK MAHINDRA is the flagship company of the group. The company was incorporated in 1985 and over the year has spread its business into the entire spectrum of financial services, either directly or trough subsidiaries. In February 2003 the company was given the license to carry on banking business by the RBI. It was the first company in India to covert into a bank. The company has been in retail lending since mid 1990's, with the conversion into a bank, retail liabilities, treasury and corporate banking segments have been added.

KEY GROUP COMPANIES AND THEIR BUSINESSES KOTAK KOTAK MAHINDRA BANK LTD.: At KOTAK Mahindra Bank, we address the entire spectrum of financial needs for individuals and corporates. From Retail Finance to Equities, Mutual Funds to Life Insurance and Investment Banking, we have the products, the experience, the experience, the infrastructure and most importantly the commitment to deliver pragmatic, end-to-end solutions that really work. Since the conversion of the finance ltd. to bank ltd., the company has shown its presence in Retail Liabilities and Branch Banking, Wealth Management, NRI Services, Commercial Vehicles, Personal loans, Home Loans, Agriculture Finance Division, Corporate Banking, Treasury.

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KOTAK INVESTMENT BANKING India's premier investment bank is a joint venture between KOTAK Mahindra Bank (holding 75%) and Goldman Sachs (holding 25%). It offers full service investment banking solutions to its clients by combining the global reach and expertise of Goldman Sachs and the local knowledge and skills of KOTAK Mahindra. KOTAK Investment Banking identifies structures and executives diverse transactions and provides innovative solutions to Corporates and Government enterprises. Transactions include mergers, acquisitions, divestitures and issuance debt and equity. KOTAK INSTITUTIONAL EQUITIES: focuses on catering to the

institutional clients including Foreign Institutional Investors (FIIS), banks, MFS and Insurance companies. In addition to providing broking services in the Cash segment and Futures and Options segment. KOTAKS research analysts were ranked amongst top 3 analyst teams in Institutional Investor's 2004 All Asia rankings. KOTAK SECURITIES: One of the India's leading brokerage and securities distribution house. It has been ranked the largest distributor of Initial Public offerings for 2003-2004 by Prime Database and has been awarded India's Best Equity House for 2004 by Finance Asia, Best Broker in India for 2005 by Finance Asia and Best Equities House in India for 2005 by Euro money. These medals itself tells the story so far of this house.

KOTAK CAR FINANCE: During 2005, the KOTAK Mahindra group's ownership in KOTAK Mahindra Primes Limited (KMPL) has gone up to

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100% following the acquisition of 40% stake held by Ford Credit International (FCI). The primary business of KMPL is to finance passenger cars, multi-utility vehicles in India for retail customers and working capital and infrastructure requirements of dealers. KMPL offers finance for both new as well as used cars. KOTAK LIFE INSURANCE: KOTAK Mahindra Old Mutual Life Insurance ltd (KOTAK Life Insurance) is a joint venture between KOTAK Mahindra bank ltd. (holding 74%) and OLD MUTUAL pl c.(holding 26%).Old Mutual pl c, is a UK based financial services group with 158 years of experience in Insurance and banking, is a Fortune 500 company listed on the London stock exchange in the FTSE 100 list of companies

KOTAK MUTUAL FUND: KOTAK Mahindra Asset Management Company Limited, the asset manager for KOTAK Mutual Fund (KOTAK Mutual), was established in 1998. Right from inception, KOTAK mutual has built a reputation as an innovator. Among other things, it has given the Indian Mutual Fund industry its first Gilt Fund, first multi-manager equity Fund of funds, first theme fund dedicated to globally competitive Indian companies, first investor loyalty scheme and first SMS-based information service. In both products and services, KOTAK Mutual has led the way for the rest of the industry.

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CORPORATE IDENTITY

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 THE GLOBAL INDIAN FINANCIAL SERVICES BRAND: Our

customers will enjoy the benefits of dealing with a global Indian brand that best understands their needs and delivers customized pragmatic solutions across multiple platforms. We will be a worldclass Indian financial service group. Our technology and best practices will be benchmarked along international lines while our understanding of customers will be uniquely Indian. We will be more than a repository of our customers' saving. We, the group, will be a single window to every financial service in a customer's universe.

THE MOST PREFERRED EMPLOYER IN FINANCIAL

SERVICES: A culture of empowerment and a spirit of enterprise attracts bright minds with an entrepreneurial streak to join us and stay with us. Working with a home-grown, professional-managed company, which has partnerships with international leaders, gives our people a perspective that is universal as well as unique.

THE MOST TRUSTED FINANCIAL SERVICES COMPANY: We

will create an ethos of trust across all our constituents. Adhering to high standards of compliance and corporate governance will be an integral part of building trust.

VALUE CREATION: Value creation rather than size alone will be

our business driver

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Mr. K.M.GHERDA Mr. UDAY KOTAK

CHAIRMAN CHAIRMAN

EXECUTIVE VICE CHAIRMAN AND MD

Mr. ANAND MAHINDRA Mr. CYRIL SHROFF Mr. PRADEEP KOTAK Dr. SHANKAR ACHARYA Mr. SHIVAJI DAM Mr. C. JAYARAM Mr. DIPAK GUPTA Ms. BINA CHANDARANA EXECUTIVE DIRECTOR EXECUTIVE DIRECTOR EXECUTIVE DIRECTOR EXECUTIVE DIRECTOR EXECUTIVE DIRECTOR EXECUTIVE DIRECTOR EXECUTIVE DIRECTOR EXECUTIVE DIRECTOR

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OUR HISTORY
THE KOTAK MAHINDRA GROUP was born in 1985 as KOTAK Capital Management Finance Limited. UDAY KOTAK, Sidney A.A.PINTO and KOTAK & Company promoted this company. Industrialists HARISH MAHINDRA and ANAND MAHINDRA took a stake in 1986, and that's when the company changed its name to KOTAK Mahindra Finance Limited. 1987 1988 1990 1991 1992 1992 1995 KOTAK Mahindra Finance Limited starts the activity of Bill Discounting. KOTAK Mahindra Finance Limited enters the Lease and Hire Purchase market The Auto Finance division is started The Investment Banking Division is started. Takes over FICOM, one of India's Largest financial retail marketing networks Enters the Funds Syndication sector Brokerage and Distribution businesses incorporated into a separate company-KOTAK Securities. Investment banking division incorporated into a separate company KOTAK Mahindra Capital Company 1996 The Auto Finance Business is hived off into a separate company KOTAK Mahindra Prime Limited (formerly know KOTAK Mahindra Primus Limited). KOTAK Mahindra takes a significant stake in Ford Credit KOTAK Mahindra Limited For financing Ford vehicles. The launch of Matrix Information Services Limited marks the Group's entry into information distribution.

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1997 2000

Enters the mutual fund market with the launch of KOTAK Mahindra Asset Management Company. KOTAK Mahindra ties up with Old Mutual plc. for the Life Insurance business. KOTAK Securities launches its on-line broking site (now www.kotaksecurities.com).Commencement of private equity activity through setting up of KOTAK Mahindra Venture Capital Fund.

2001 2003 2004 2005

Matrix sold to Friday Corporation, Launches Insurance Services. KOTAK Mahindra Finance Ltd. converts to a commercial bank-the first Indian comp to do so. Launches India Growth Fund, a private equity fund. KOTAK Group realigns joint venture in Ford Credit; Buys KOTAK Mahindra Prime (formerly known as KOTAK Mahindra Prime Limited) and sells Ford credit KOTAK Mahindra. Launches a real estate fund.

2006 KOTAK Mahindra Bank has successfully raised approximately US$ 100 million through issue of 15,000,000 Global Depository Shares (GDS). Source: www.kotak.com, press release of Mumbai, April 23, 2006:

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Project profile

STUDY OF EXISTING AND POTENTIAL CUSTOMER FOR (KMBL.)

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WORK TILL NOW Working on database provided by bank. Handling customer query Understanding and working on software maintained by KOTAK Bank for updating the database of various schemes. Comparative analysis of various products offered by KOTAK and other banks. Visited various hospitals & working on database provided by bank: Presentation in the hospitals for the doctors. Then collecting their name and fixed up appointments, resolving their queries one on one regarding investment opportunities and selling insurance schemes & current accounts. These presentations were customized for the doctors who could explain the benefits of opening the accounts with bank and specified investment advisory which bank uses to provide for the doctors. As this part of the project was aimed to understand the features of current account, current accounts & various insurance schemes. Here we were given the experience to convey what we have under stood about the product to the end customer. For this, we have chosen doctors as a segment to be tapped for current accounts.

Why we have chosen doctors? Banking is a long-term relationship between customers and the bankers. As the doctors dont have time and being a stable and upgrading profession we

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aim them as our potential clients for future. We help them in their investment decisions. Then we started on a directory of doctors and hospitals. I have prepared a presentation on the salient features of the products. Bank has made a special offer of zero balance to the doctors. Now I have started telecalling and fixing up appointments with doctors. Initially one of the executives accompanied on few calls. Handling customer query I used to handle customer query both at office as well as field I also spent some time at reception at office where I had to answer their query regarding investment and other things as well as while doing my field work I came across various query which I have already explained above.

Understanding software maintained by KOTAK MAHINDRA BANK for updating the database of various schemes. I have also got the knowledge of software and database maintained by KOTAK MAHINDRA BANK which was helping us in answering customer query, knowing the current status of different fund schemes and market condition of different schemes. RETAIL BANKING

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The essential function of a bank is to provide services related to the storing of value and the extending credit. The evolution of banking dates back to the earliest writing, and continues in the present where a bank is a financial institution that provides banking and other financial services

Services typically offered by banks: Although the type of services offered by a bank depends upon the type of bank and the country, services provided usually include: Directly take deposits from the general public and issue checking and savings accounts Lend out money to companies and individuals (see moneylender) Cash checks. Facilitate money transactions such as wire transfers and cashiers checks Issue credit cards, ATM, and debit cards. Online banking. Storage of valuables, particularly in a safe deposit box

The Product Profile-An Overview

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No matter what ones banking needs are, KOTAK Mahindra Bank has an offer that is just right for him\her. KOTAK current accounts offer the customers attractive returns with personalized banking services. It has a variety of products to offer, KOTAK Edge current Account, KOTAK Pro Savings Account and KOTAK ACE current Account. Each product is feature packed ranging from Free Home Banking, Free Access to 6000+ ATM, Free DDs, and Free At -Par Cheque Facility to Free Trading Account & Free Demat Account. They can choose the one that suits them the most and meet their requirements

PRODUCTS
There are three product feature of current account in Kotak Mahindra bank 1. KOTAK Edge Current Account 2. KOTAK Pro Current Account 3. KOTAK ACE Current Account

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Features of current account

Account feature Average quarterly balance Investment account Additional saving account 2-way sweep DDs/Bc for branch location Non branch location Cheque collection for branch location Cheque collection for non branch location Home banking At home service Cards Debit card Visa domestic Visa international Cheque book At-par Cheque book Demat account opening ACE 250k Free 3 nova SA 500k Free unlimited 300k free 1/1000 free Free Free 1st year Free Free Free Free Free Pro 50k Free 1novaSA 100k Free unlimited 50k free 2.5/1000 free Free Free 1st year Free Charged Free Free Free Edge 25k Free Nil 50k Free unlimited Charged 2.5/1000 2.5/1000 charged charged Free 1st Year Charged charged 2. per leaf 4 per leaf Free

Remittances

Collection

Services

Cheque book

Facilities

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KOTAK Pro Current Account : Features KEY BENEFITS -Attractive Returns -Business Advantages -Pro Privileges -Convenience Banking You need a well equipped bank account to keep pACE with you in the ever changing business scenario. We offer you the KOTAK Pro Current Account, armed with KOTAK 2-Way Sweep, as well as an entire gamut of Banking Privileges and user-friendly Convenience Banking facilities. The feature rich KOTAK Pro Current Account is the ideal way to make your money work harder.

ATTRACTIVE RETURNS Your KOTAK Pro Current Account combines liquidity of a Current Account with the attractive returns of a Term Deposit through the unique KOTAK 2Way Sweep benefit.

BUSINESS ADVANTAGES The host of features offered by your KOTAK Pro Current Account makes your money work to your advantage while offering you a convenient Banking experience. Free Demand Drafts Avail Demand Drafts, free of cost, payable at any location in India, up to a per-specified limit, just by calling our Phone Banking Service.

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Free Home Banking For free Cheque pick-up, dial our Phone Banking Service and enjoy a time saving banking experience from the comfort of your home or office. You can also use this facility for cash/demand draft delivery and cash pick-up Free At-par Cheque KOTAK Mahindra Bank's At-par Cheque are treated as local clearing Cheque across select locations in the country. The At-par Cheque facility comes to you free of charge. You can now save DD making charges while enjoying the convenience of a Cheque! Electronic Fund Transfer Cheque Transfer funds to third party accounts in other banks, without drawing a Demand Draft or a Cheque, by using our Electronic Fund Transfer facility. With this facility you can save on Demand Draft making/couriering charges and also transfer funds faster! Free Cheque Collection Outstation Cheque, drawn on any of our branch locations, would be collected free of charge for you. Only a nominal charge is levied for nonbranch locations.

PRO PRIVILEGES Your KOTAK Pro Current Account comes to you with special privileges that provide an extra fillip to your Banking experience.

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Family Savings Account The KOTAK Pro Current package entitles you to a free Family Savings Account. This account comes to you with a host of benefits like KOTAK 2Way Sweep, At-par Cheque facility and other beneficial account features. So now even your dear ones can enjoy banking the KOTAK way!

Free Cheque Pick-up: You can now avail the added benefit of a free Cheque pick-up service. This service enables you to have Cheque and documents picked up from your doorstep on a daily basis, helping you to devote more time and energy to your business.

Free At-Home Services This service enables you to make your Utility Bill payments like electricity, telephone and mobile phone bills and also get document delivery and pickup from the bank. This facility, brought to you by Les Concierge, is available at select cities, and comes to you absolutely free!

CONVENIENCE BANKING A host of Convenience Banking facilities allow you to access your account anytime, anywhere. Global Debit Card Access your account free of cost at all VISA ATM in India by using your Global Debit Card. You can also use your Debit Card at all VISA affiliated merchant establishments and ATM worldwide.

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Phone Banking Dial our 24 hour Toll Free number 1800 116022 (North India) OR 1800 226022 (Rest of India) from anywhere and our customer Care Officer will help you instantly with your banking requirements. Net Banking Log on to www.kotak.com to use our Net Banking facility. Take advantage of the Internet to bank from home, office or anywhere in the world.

Mobile Banking & Alerts Use this service to access your bank account anywhere, anytime! It is quick and easy, available to you 24X7 and its absolutely free! You dont have to pay any charge to avail this service. You can use Mobile Banking to check account balance, last 3 transaction details, issued Cheque status and request a Cheque book. You can use Alerts Service to get Alerts by SMS and / or email whenever a debit or credit greater than Rs. 1 lakh happens to your account, your balance falls below the Average Quarterly Balance or a Standing Instruction set by you fails or you can even ask for your account balance to be sent to you on a weekly basis

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KOTAK ACE Current Account : Features KEY BENEFITS -Attractive Returns -Business Advantages -ACE Privileges -Convenience Banking You need a well equipped bank account to keep pACE with you in the ever changing business scenario. We offer you the KOTAK ACE Current Account, armed with Business benefits and exclusive ACE Privileges and an entire gamut of banking conveniences especially designed for you. The feature rich KOTAK ACE Account is the ideal way to make your money work harder.

ATTRACTIVE RETURNS Your KOTAK ACE Current Account combines liquidity of a Current Account with the attractive returns of a Term Deposit through the unique KOTAK 2-Way Sweep benefit.

BUSINESS ADVANTAGES Your ACE account comes to you with a host of advantages that are aimed at meeting your business requirements whilst providing you a superior Banking experience.

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Free Demand Drafts Avail Demand Drafts, free of cost, payable at any location in India, up to a per-specified limit, just by calling our Phone Banking Service. Free Cheque Collection Outstation Cheque, drawn on any of our branch locations, would be collected free of charge for you. Only a nominal charge is levied for nonbranch locations. Free Home Banking For free cash/demand draft delivery, dial our Phone Banking Service and enjoy a time saving banking experience from the comfort of your home or office. You can also use this facility for free cash/Cheque pick-up Free At-par Cheque KOTAK Mahindra Bank's At-par Cheque are treated as local clearing Cheque across select locations in the country. The At-par Cheque facility comes to you free of charge. You can now save DD making charges while enjoying the convenience of a Cheque! Free Electronic Fund Transfer Transfer funds to third party accounts in other banks, without drawing a Demand Draft or a Cheque, by using our Electronic Fund Transfer facility. With this facility you can save on Demand Draft making/couriering charges and also transfer funds faster! Overdraft against Term Deposit As a KOTAK ACE Current Account holder, you can avail an overdraft against your Term Deposit(s) held with KOTAK Mahindra Bank. This

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facility helps you to effectively manage short-term cash flow problems and since your Term Deposit(s) remains intact, you continue to earn interest on your investment. ACE PRIVILEGES Your ACE A/C has been designed with exclusive benefits that give an extra fillip to your banking experience. Free Demat Account As an ACE Current customer, you can also open a Demat Account with us free of charge. Whats more, even your annual charges towards the Demat Account are waived off! Family Savings Accounts Your ACE account allows you to now extend the KOTAK banking experience to three of your family members. The Family Savings Accounts come to you with a host of benefits like KOTAK 2-Way Sweep, At-par Cheque facility and other attractive features. So now even your dear ones can enjoy banking the 'KOTAK way'! Free Cheque Pick-up You can now avail the added benefit of a free Cheque pick-up service. This service enables you to have Cheque and documents picked up from your door step on a daily basis, helping you to devote more time and energy to your business. Free Investment Account Avail a free Investment Account that provides you a consolidated view of all your investments. The Investment Account statement gives a 'single window view' of your Mutual Fund portfolio, listing the NAV of each

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scheme invested into, current consolidated value of your portfolio, and realized/unrealized returns against each investment made. Personal Investment Advisor To identify and analyze your specific investment requirements we provide you a dedicated Personal Investment Advisor. This person alerts you to investment opportunities, sends you regular updates and feedback on the performance of your investments, helping you monitor, manage and grow your wealth in the ever fluid investment climate. CONVENIENCE BANKING A host of Convenience Banking facilities allow you to access your account anytime, anywhere. Global Debit Card Access your account free of cost at any VISA ATM in India or abroad using your Global Debit Card. You can use your Debit Card at all VISA affiliated merchant establishments worldwide. And furthermore you can gift free addon cards to your family members too! Phone Banking Dial our 24 hour Toll Free number 1800 116022 (North India) OR 1800 226022 (Rest of India) from anywhere and our customer Care Officer will help you instantly with your banking requirements.

Net Banking Just log on to www.kotak.com to access our Net Banking facility. Take advantage of the Internet to bank from home, office or anywhere in the

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world at a time of your convenience. Furthermore, usage of our Net Banking facility entitles you to free Insurance Cover as per conditions specified. At-Home Services This service enables you to make you Utility Bill payments like electricity, telephone and mobile phone bills and also documents pick-up/delivery to the bank, free of cost. This facility brought to you by Les Concierges, is available at select cities. Mobile Banking & Alerts Use this service to access your bank account anywhere, anytime! It is quick and easy, available to you 24X7 and its absolutely free! You dont have to pay any charge to avail this service. You can use Mobile Banking to check account balance, last 3 transaction details, issued Cheque status and request a Cheque book. You can use Alerts Service to get Alerts by SMS and / or email whenever a debit or credit above any amount specified by you happens to your account, your balance falls below the Average Quarterly Balance or a Standing Instruction set by you fails or you can even ask for your account balance to be sent to you on a daily or a weekly basis.

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KOTAK Edge Current Account : Features KEY BENEFITS -Attractive Returns -Business Advantages -Convenience Banking You need a well equipped bank account to keep pace with you in all your business endeavors. We offer you the KOTAK Edge Current Account, armed with KOTAK 2-Way Sweep and our entire gamut of Banking Privileges, providing you that extra edge to get ahead. The feature rich KOTAK Edge Current Account is the ideal way to make your money work harder.

ATTRACTIVE RETURNS Your KOTAK Edge Current Account combines liquidity of a Current Account with the attractive returns of a Term Deposit through the unique KOTAK 2-Way Sweep benefit.

BUSINESS ADVANTAGES Experience the edge your business gains while banking through a host of advantages offered by your KOTAK Edge Current account. Free Demand Drafts Avail Demand Drafts, free of cost, payable at any of our branch locations just by calling our Phone Banking Service. What's more, there is no limit to the number/value of Demand Drafts drawn by you at these locations.

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Home Banking For cash/Cheque pick-up or cash/demand draft delivery dial our Phone Banking Service and enjoy a time saving banking experience from the comfort of your home or office.

At-par Cheque KOTAK Mahindra Bank's At-par Cheque are treated as local clearing Cheque across select locations in the country. You can now save DD making charges while enjoying the convenience of a Cheque! Electronic Fund Transfer Transfer funds to third party accounts in other banks, without drawing a Demand Draft or a Cheque, by using our Electronic Fund Transfer facility. With this facility you can save on Demand Draft making/couriering charges and also transfer funds faster! Overdraft against Term Deposit As a KOTAK Edge Current Account holder, you can avail an overdraft against your Term Deposit(s) held with KOTAK Mahindra Bank. This facility helps you effectively tackle short-term cash flow problems and since your Term Deposit(s) remains intact, you continue to earn interest on your investment. CONVENIENCE BANKING A host of Convenience Banking facilities allow you to access your account anytime, anywhere.

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Global Debit Card Access your account free of cost at 1320+ KOTAK Mahindra Bank and HDFC Bank ATM by using your VISA Global Debit Card. You can also use your Debit Card at all VISA affiliated merchant establishments and ATM worldwide. Phone Banking Dial our 24 hour Toll Free number 1800 116022 (North India) OR 1800 226022 (Rest of India) from anywhere and our customer Care Officer will help you instantly with your banking requirements. Net Banking Log on to www.kotak.com to access to use our Net Banking facility. Take advantage of the Internet to bank from home, office or anywhere in the world. At-Home Services This service enables you to make your Utility Bill payments like electricity, telephone and mobile phone bills and also get document delivery and pickup from the bank. This facility, brought to you by Les Concierge, is available at select cities. Mobile Banking & Alerts Use this service to access your bank account anywhere, anytime! It is quick and easy, available to you 24X7 and its absolutely free! You dont have to pay any charge to avail this service. You can use Mobile Banking to check account balance, last 3 transaction details, issued Cheque status and request.

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INTRODUCTION TO KOTAK MAHINDRA BANK

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CREATING BANKING HISTORY Established in 1984, The KOTAK Mahindra group has long been one of India's most reputed financial organizations. In February 2003, KOTAK Mahindra Finance ltd. the group's Flagship Company was given the license to carry on banking business by the Reserve Bank of India (RBI). The approval creates banking history since KOTAK Mahindra Finance Ltd. is the first company in India to convert to a bank. THE COMPLETE BANK A license authorizing the bank to carry on banking business has been obtained from the Reserve Bank of India in terms of Section 22 if the Banking Regulation Act, 1949. It must be distinctly understood, however, that in issuing the license, the RBI does not undertake any responsibility for the financial soundness of the bank or the correctness of any of the statements made or opinion expressed in this connection.

Retail Liabilities and Branch Banking: KOTAK Mahindra Bank

addresses the entire spectrum of financial needs for Individuals and Corporate. From savings account and current account, to Demat. Services, Investment advisory Services, Trade Finance Services, and Forex and Remittances, the bank offers it all What differentiates and the Bank's regular Banking Products are our value-added benefits like free access at any VISA ATM, Free cash delivery at home, 2-way sweep into Mutual Fund & Term Deposit, Utility Bill payment Facility etc. The bank introduced online shopping during the current year. As on September 30, 2005, KOTAK Mahindra Bank had 44 full fledged bank branches across 25 locations in India.

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 Wealth Management: As a Bank, our objective is to help individual manage and better their Net Worth. Hence, within KOTAK Mahindra Bank; there is a team of dedicated professionals catering to the financial requirements of High Net-Worth Individuals. NRI Services: KOTAK Mahindra Bank offers a diverse set of NRIcentric financial solutions including, investments, remittances, and deposits. KOTAK stands with a difference like at-par Cheque, at home services (utility bill payment and document delivery in India), free Inward funds, and mandate facility etc. including NRE/NRO/FCNR accounts. Commercial Vehicles: This constitutes the largest part of the Bank's retail advances portfolio servicing a customer base of more than 50,000 customers. The division is moving towards becoming one stop shop for all financing needs of transporters. Personal loans: KOTAK quick easy loans are called "Jaldi loans" which range from Rs. 50000 to Rs. 1000000 for salaried individuals, self-employed professional and businessmen. Jaldi Loans offers minimal paperwork and quick processing within 24 working hours for salaried and 72 working hours for self employed professionals and business) with repayment tenures ranging from 12 to 48 months. Home Loans: The Bank now has a complete suite of home finance products which includes home loans, loan against property, balance transfer loans and loans for commercial property Agriculture Finance Division: The agriculture finance division was launched in August 2003, to meet the priority sector advance target of the Bank. The products launched for cropping activities & to high tech

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and scientific agricultural projects, working capital loans to dealers and distributors of agricultural inputs and loans to farmers engaged in providing inputs under contract farming arrangements to large corporate & direct loans to Corporate engaged in agriculture activities. Corporate Banking: KOTAK Mahindra Bank offers Corporate and institutions a complete range of client-centric banking solutions and services. These include working capital, trade services, transaction banking, money market and foreign exchange services and cash management Treasury: The current liberal policy in conducting the Forex business opened up a gateway to new opportunities to both individuals and corporate clients

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RESEARCH METHODOLOGY

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FACTS AND FINDING

- CUSTOMER HAVING CURRENT ACCOUNT. Banks % HDFC ICICI CITI IDBI KOTAK GOVT.BANK 23 16 5 13
Bn ak
3 5 3 0 2 5 2 0 1 5 1 0 5 0 h fc d ic i ic c iti c r e ta c a k ur n c .b n id i b k ta o k gv ot bn ak

INTERPRETATION:- in the survey of 300 people I found that 23 % of them having current acc. In hdfc. , 16 % ,5% ,13%,12% or 31% have their accounts in icici, citi, idbi, Kotak, and govt .bank respectively

No of people out of hundred

12

31

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- CUSTOMER RESPONSE IN FREE DEMAND DRAFT FACILITY. (A) YES (B) NO

no 25%

yes 75%

INTERPRETATION:- in the survey of 300 people I found that 75 % got free D.D. facility and 25 % of them do not avail this facility.

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-CUSTOMER INTREST IN CURRENT ACCOUNT. (A) YES 15 (B) NO 85

80 70 60 50 40 30 20 10 0 Series1

yes

no

Interest on current account INTERPRETATION:- in the survey of 300 people I found that 15 % of people were interested in c. acc. And rests 85 % were not interested in opening current acc.

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- BANK PROVIDES YOU FREE AT-PAR-CHEQUE BOOK. Categorys Yes No No of people 30( kotak, HSBCs stan.c) 70 (icici, hdfc, govt bank)

90 80 70 60 50 40 30 20 10 0 1 2 yes kotak,hsbc, stanc no icici,hdfc,govt banks

Free at-par cheque book INTERPRETATION:- in the survey of 300 people I found that 85% people get free at-par cheque book and these were customer of Kotak, hsbc, stanc. And rest 15 % dont get free at-par cheque book and these were customer of icici, hdfc, govt bank.

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- BANK PROVIDE FREE HOME BANKING. Ba Kotak nk s 29 % hdfc 14 Govt banks 4 stan.c HSB C 22 25 ICICI 6

home banking
govticici stan.c kotak hsbc hdfc banks 0% icici 6% stan.c 22%

hdfc 14% govt banks 4%

hsbc 25%

kotak 29%

INTERPRETATION:- in the survey of 300 people I found that 29%, 25% 22%, 14%, 6% 4% respectively were using free home banking of bank Kotak, hsbc, stan.c., hsfc. Icici. Govt banks. Respectively.

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- COMSUMER RESPONSE IN FRE DEMAT ACCOUNT. CATEGORIES YES NO May be NO OF RESPOND 85 20 15

demat account response
60 50 people 40 30 20 10 0 yes no partially 20 25 55 Series1

INTERPRETATION:- in the survey of 300 people I found that 55% people were having demat account. And 20 % of people dont have demat account, and 25 % people dont know or if know not willing to invest,

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- BANK PROVIDING YOU A FREE ELECTRONIC FUND TRANSFER. CATEGORIES YES NO NO OF RESPOND 60 40

70 60 50 40 S eries 1 30 20 10 0 YES NO

INTERPRETATION:- in the survey of 300 people I found that 60 % of them were availing free electronic fund transfer services, 40 % were un aware of this service.

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- CONSUMER RESPONSE IN GLOBAL VISA DEBIT CARD. CATEGORIES NO OF RESPOND YES 61 NO 22 May be 17

number of people
YES NO May be Ma y be 17% NO 22%

YES 61%

INTERPRETATION:- in the survey of 300 people I found that 61 % have got free global visa debit card from their respective banks, 22 % were unaware of this service, and 17% were partially used this service.

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DATA ANNALYSIS & INTERPRETATION

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METHODS OF DATA COLLECTION The target was very simple we have to first target NON GOVERNMENT ORGANIZATIONS, for the product of our bank. the retail marketing of current account in Jaipur city

1. For this we had no data initially so we straight away took help of

Yellow Pages of the Jaipur City. 2. Secondly we collected FCRA list from the Internet for Rajasthan. 3. We also collected list of educational institute of Jaipur City. Getting the list of people who use current account from yellow pages and Internet was not enough for us. So we go for the survey of 300 peoples by direct marketing. To know about their attitude towards your banking. OPERATION ON THE LIST COLLECTED: The list collected was not small. We divided the whole list area wise first and then started work on it. We stepped forward as follows: 1]> Phone Calling: This was the first step which we followed the reason

is very simple the KOTAK Mahindra Bank has built a working culture for which it is famous and that is way of doing business. We proposed our product on phone with also knowing their present banking relationships. This not only gave the customers the initial knowledge of our bank and product but also we got to know what presently he is doing, what is there banking size (yearly turnover), are they satisfied with the present banking relationship with other banks

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Phone calls proved to very important for us because taking appointment is like first impression of the bank in front of the customers. Since we know that is this the best media to know whether the person is willing to be a part of our banking. The important thing we kept in mind were two things firstly try to find what a customer is most focused on like only on Demand Draft from the bank or Cash Transaction, Interest etc. and secondly time spent on each call. We more tried on taking appointment by explaining our planning very precisely and correctly. Because talking fACE to fACE means you can convince him more easily rather than on phone One more we had to keep in mind was over tone and language. As there were people who were more comfortable talking with us in regional language and some were more comfortable in English. So we had to be prepared in Hindi, English and Rajasthani. Phone calls also made us to cross check the exact address of the customers. We made a flexible arrangement to work area wise so to save cost of conveyance. 2] Post Appointment Preparations: After taking the

appointment we did our home work that is we prepared a written proposal for the customer on the letter-head of the KOTAK Mahindra Bank so that if we enter the office of customer we are fully prepared to take any responsibility of the bank. The written proposal made the difference between KOTAK Mahindra Bank Ltd. and other banks. The written proposal was a letter containing an introduction to KOTAK Mahindra Bank an attached with all the facilities offered by the bank to the associations.

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3]

Group appointment and Personal appointment: The customers no

doubt work on the principle of no profit no loss. But for the bank they are high league customer as the fund once deposited in the bank are withdrawn back in small amount so a large contribution in the calculation of the net worth of the bank. So it is best to talk each of them separately and convince them individually. Also the need of each customer is different and needs to be treated separately. So the whole process of the selling our product could be explained by the following steps. {A} Prospecting and Qualifying: That we had discussed that by collecting the data of prospective customers. The prospective customer can also be known by the current appointments. {B} Reproach: The step taken by us to know more and more about the CUSTOMER and its working. Its current bank account and its goodwill by the general inquiry or general information. If not collected then also it doesn't make much difference.

{C} Approach: The step in the selling process in which the salesperson meets and greets the buyer to get the relationship off of a good start. The starting lines of our meeting were like "we believe what ever we will discuss in the next few minutes will definitely beneficial for your organization". This kind of practical application is only possible by very good marketing person. It's like positive sign in the starting of the meetings. {D} Presentation and Demonstration: The step in the selling process in which the salesperson tells the product "story" to the buyer, showing how the product will make or save the money for the buyer. Since our product

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was more like that only that is how the associations can save money using our banking relationship. {E} Handling Objections: The step in the selling process in which the salesperson seeks out, clarifies and overcomes customer objections to buying. The directors and secretaries of the associations asked lot of queries about the profitability of our product and we had to answer and we had to answer them and convince them at each and every step of the meeting and satisfy them. {F} Closing: The last but one, step was asking the order from the customer. Here the decision taker is not a single person but the whole boards of directors of the society so it is not true to say that we got an account of the association at the first meeting. {G} Follow-up: The last step was usually taking time for the follow-up for the next meeting and it was not less than a week for any CUSTOMER and that was due to their next meeting. We use to collect the order in the next meeting or so on. Source: As taken help from Principles of Marketing, by Philip Kotler and Gary Armstrong, Pg. 496-497, personal selling and sales management.

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PRINCIPLES OF CUSTOMER SERVICE IN BANKING 1. By satisfying our clients' business objectives we satisfy our own professional and personal objectives. 2. We want our client to regard KOTAK Mahindra as their partner of choice time after time. 3. Satisfied clients become engaged clients when they trust us, bond us and feel a sense of pride through an association with us 4. Engaged client forms a significant source of continued and imp0roved growth. 5. An engaged client will actively sell our bank products and services to other. 6. Engaged client forms a sound commercial foundation for KOTAK Mahindra Bank's future. 7. Don't keep good news to yourself inform the client of every success. 8. Give every client a reason to trust KOTAK Mahindra Bank. 9. Do what you said; you could do it, when you said you would do it. 10. Ensure all communications are reviewed before being set to a client. 11. Promote the advantage of KOTAK Mahindra Bank and our products and not just the features. 12. Understand how the world looks from the clients' point of view.

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CONCLUSION:

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During the survey I found the reason of one important question that why customers are changing their opening current account behavior towards. KOTAK MAHINDRA BANK LTD. Some important interpretations are here. 1. The first preference is opening a current / saving account in govt bank because mostly consumers dont want to believe and waste their time in private bank. 2. The factor which is paying the leading role, facilities and services .mostly consumers are govt. employees so they are more conscious towards facilities and services. 3. When people go to opening a current account, the brand name of kotak is not on their minds. 4. People remember the advertisements of ICICI and 5. HDFC more than the KOTAK because of advertisement of ICICI and HDFC. In market ICICI and HDFC have big hoarding and showrooms, which attract the consumer and leave image on consumers mind. 6. KOTAK advertisements are not coming frequently on both media electronic and print media in comparison to other brands. So people easily forget this brand because consumers memories are very short.

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RECOMMENDATIONS:

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Here come the gems in hand. Whatever we do; we must do to learn and implement. The following important things should be kept in mind for the future. 1. Bank should more concentrate on its advertisement, since for making a big brand name and sell your product people must remember the name of KOTAK as a Bank. 2. Bank should provide some short term loan facilities to Customers if they want to attain more customers as giving them helping hand will help us. 3. In future who so ever is added in the team for the banking relation with the TASC, the bank must train him/her fully with the law controlling non government organizations. 4. 5. KOTAK must increase its number of branches in the state. KOTAK must form a committee who should be responsible to cross check the working of its customers.

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BIBLIOGRAPHY

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BOOKS:

1. KOTLER, PHILIPS, PRINCIPLES OF MARKETING 2. ARMSTRONG GARY, PRENTICE-HALL OF INDIA, 2000.

3. 4. 5. PERSONAL FINANCIAL PLANNING (ICFAI) PORTFOLIO MANAGEMENT (ICFAI) SAXENA, RAJAN, MARKETING MANAGEMENT

6. KOTLER, PHILIP,ARMSTRONG MANAGEMENT PRINCIPLES

OF MARKETING MAGAZINES:

1. BUSINESS AND ECONOMY, 2. OUTLOOK: BUSINESS PROMOTER,

3. BUSINESS WORLD, WEBSITES:

1. WWW.KOTAK.COM 2. WWW.RBI.COM 3. WWW.GOOGLE.COM 4. WWW.FINMIN.NIC.IN 5. WWW.HINDUUONNET.COM 6. WWW.WESTGODAVARI.ORG

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