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A

PROJECT REPORT
ON

“IMPACT OF BOM ON RETAIL BANKING AND


CUSTOMER SATISFACTION”

AT
BANK OF MAHARASHTRA

MASTER OF MANAGEMENT STUDIES (MMS)


UNIVERSITY OF MUMBAI

SUBMITTED TO
SINHGAD INSTITUTE OF BUSINESS MANAGEMENT
CHANDIVALI

UNDER THE GUIDANCE OF


(MS.PALLAVI YEWALE)

SUBMITTED BY
(SAPNA PANDEY)
(FINANCE)

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CERTIFICATE

This is to certify that __________________________________has successfully


completed the project work as a part of academic fulfillment of Masters of Management
Studies (M.M.S.) semester IV examination.

Name & Signature of Project Guide

Date : _________________

DIRECTOR

SIBM

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DECLARATION

I, Sapna S.P. Pandey of Master of Management Studies Semester III of Sinhgad Institute
of Business Management (SIBM), hereby declare that I have successfully completed this
Project on IMPACT OF BOM ON RETAIL BANKING AND CUSTOMER
SATISFACTION in the academic year 2011-2013.
The information incorporated in this project is true and original to the best of my
knowledge.

_____________________________
Signature

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IMPACT OF BOM ON RETAIL
BANKING AND
CUSTOMER SATISFACTION

4
ACKNOWLEDGEMENT

To acknowledge all the persons who had helped for the fulfillment of the project is not
possible for any researcher but in spite of all that, it becomes a foremost responsibility of
the researcher and also the part of research ethics to acknowledge those who had played a
great role for the completion of the project.

So in the same sequence at very first, I would like to acknowledge my parents because of
whom I got the existence in the world for the inception and the conception of this project.
Later on I would like to confer the flower of acknowledgement to Mrs Pallawi and other
faculty members who taught me that how to do project through appropriate tools and
techniques. Because BOM has trusted me and given me a chance to do my integrated
research study, I would like to give thanks to the organization and especially to Mr. Sunil
Raikar, chief Manager, BOM, from the depth of my heart.

Rest all those people who helped me are not only matter of acknowledgement but also
authorized for sharing my success.

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TABLE OF CONTENTS
Sr.No Topic Page
No.
1. Executive summary 7.
2. Objective and scope 8.
3. Introduction 10.
4. History of bank of Maharashtra 11.
5. Retail banking 12.
6. Mission 13.
7. Research methodology and Research design 15.
8. Analysis of the data 18.
9. Findings 27.
10. Limitations 28.
11. Conclusion 29.
12. Questionnaire 30.
13. Bibliography 32.

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EXECUTIVE SUMMARY

This project are enable to know the Banking Industry is basically my concern industry, to
work for this was really a complex, and hectic task .I took the challenge and approach
with the project “IMPACT OF BOM ON RETAIL BANKING AND CUSTOMER
SATISFACTION”.
Sample size: Data was collected from 30 customer of BOM.

The main objective of the project is


1) To find out what type of problem customer are facing related to service delivered by
BOM.
2) To find out the level of customer satisfaction from the product marketing of BOM
retail banking.

At the end I concluded from the project that customer availing loan from BOM are
satisfied from the Service and the Employee cooperation as well as the whole loan
procedure was so supportive that they want to avail loan in future from BOM only.

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OBJECTIVE

The main objective of this project is to study the awareness of the satisfaction of
customers regarding the BOM Retail Banking .During this summer internship program
period I have to achieve some thing, which is helpful for my career, and some value
addition to the Banking Company. It gives me good opportunity to expose and creating
good impression of corporate mind.

1) To find out what type of problem customer are facing related to service delivered by
BOM.
2) To find out the level of customer satisfaction from the product marketing of BOM
retail banking.

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SCOPE
Money is the centre of world economy and Bank works as a central point for money.
Banking industry is a very growing industry and among all the banks, particularly BOM
is doing very well. In this time of global recession where the other companies are laying
off their staffs but BOM has recruited more than 1400 to 1600 employees in the year
2008.So there is a huge potential for getting jobs in BOM

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INTRODUCTION

Bank of Maharashtra was founded by Prof. V. G. Kale and the late Shri D. K. Sathe. The
bank commenced operations on 8th February, 1936 with an authorized capital of Rs. 10
Lakhs and issued capital of Rs. 5 Lakhs. The bank got listed in the BSE in the year 1958.
Eleven years hence, the bank was nationalized with 153 other banks. As of 2009, Bank of
Maharashtra boasts of operating 1444 branches, 345 ATMs, total business of over Rs.
90,000 crore and 902 CBS branches. The Bank achieved 100% CBS coverage on 2 nd
March, 2010.

Bank of Maharashtra offers deposit schemes, loans and NRI services. Under personal
banking, the bank offers home loans for building own house and/or purchasing new
house/flat (old or new) and/or for repairs/renovation of existing house.

Commonly known as a common man’s bank, Bank of Maharashtra adopts a philosophy


of “Technology with personal touch”, and follows its motto stating “One Family, One
Bank, Bank of Maharashtra”.

All the branches of Bank of Maharashtra have been fully computerized, with Depository
services and Demat facilities being offered at 131 branches as of April 2009. The bank
aims at increasing its ATM network from 345 to 500 soon, apart from planning to install
Biometric ATMs at some selected branches. Apart from it, introduction of Phone
Banking, Internet Banking and Mobile Banking is also on the cards.

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HISTORY OF BANK OF MAHARASHTRA

The bank was established on 16th Sept 1935 with an initial capital of Rs. 10.00 lakh.
However, Bank of Maharashtra commenced its business operations from 8th Feb 1936,
five months after its inception. During its early operation, the bank provides financial
assistance to small units thereby allowing them to become major industrial houses in the
contemporary world. In 1969, Bank of Maharashtra was nationalized by the Government
of India and this allows the bank to expand rapidly. It has the largest branch network than
any other public sector banks in Maharashtra.

During 1998, the bank attained autonomous status and it began to provide more products
and services through simplified procedures and without the intervention of the
Government. The bank opened its 1000th branch at Indira Vasahat, Pune in 1987. During
the end of the year 2009, Bank of Maharashtra has over 1444 branches, 345 ATMs, 902
CBS branches and the total business cross over Rs 90,000 crores.

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RETAIL BANKING

Retail banking refers to banking in which banking institutions execute transactions


directly with consumers, rather than corporations or other banks. Services offered
include: savings and checking accounts, mortgages, personal loans, debit cards, credit
cards, and so forth or it is a typical mass-market banking where individual customers use
local branches of larger commercial banks.

Retail Banking has wider connotation and is not the same as that of retail lending. Retail
Banking refers to the efforts of the bankers to reach up to the customers on both fronts of
the balance sheet i.e., Liabilities side as well as Assets side. Under the liabilities side, we
have deposits. Under the assets side, we have credit schemes of the various banks. The
job of the banker has become very difficult in this segment too. Bankers today are
offering various sops to attract the potential customers.

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MISSION

 To ensure quick and efficient response to customer expectations.

 To innovate products and services to cater to diverse sections of society.

 To adopt latest technology on a continuous basis.

 To build proactive, professional and involved workforce.

 To enhance the shareholders’ wealth through best practices and corporate


governance.

 To enter international arena through branch network.

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Research Methodology

The Research and Methodology adopted for the present study has been systematic and
was done in accordance to the objectives set which has been detailed as below.

Research Definition

Research is a process in which the researcher wishes to find out the end result for a given
problem and thus the solution helps in future course of action.
According to Redman & Mory, research is defined as a “Systemized effort to gain new
knowledge”.

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RESEARCH DESIGN

According to “Claire Seltiz”, a research design is the arrangement of condition and


analysis of data in manner that aims to combine relevance to the research purpose with
economy in procedure.

Nature of Research:
Research is basically of two types.
1. Descriptive research
2. Explorative research
1. Descriptive Research:
.
My research design is descriptive as descriptive research –

• Describe the characteristics of certain groups/ samples / populations.


• Estimate proportions in specified populations.
• Make specific predictions.

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Determining sources of Data:
There are two main sources of data
1. Primary data
2. Secondary data

Primary Data: It consists of original information’s collected for specific


Purpose. Primary data for this research, data are collected through a direct source like
survey to obtain the first hand information is others resources are written below.

 Survey.
 Face to face interaction.

Secondary Data: It consists of information that already exists somewhere and has been
collected for some specific purpose in the study. The secondary data for this study is
collected from various sources like,
 Books.
 Website.
 Newspaper.
 Financial Magazine. ( weekly , business world etc)

Questionnaire:

Sample Size: Total sample size is 30

Questionnaire Development:

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Questionnaire is the most common instrument in collecting primary data. In order to
gather primary data from viewers. The present questionnaire consists closed ended type
of questions.

SAMPLING

Sampling is that part of statistical practice concerned with the selection of individual
observations intended to yield some knowledge about a population of concern, especially
for the purposes of statistical inference.
In my survey, I have taken convenience sampling.
My sampling is probability sampling as probability sampling that has been selected using
simple random selection each unit in the population has a known chance of being
selected.
Moreover, my sampling technique is simple random technique as in simple Random
sampling; each unit of the population has an equal probability of inclusion in the sample.
In my survey, each respondent have equal opportunity to be selected and the data, which I
collected, was from customers of BOM who had taken loan.

 Statement of the problem: Procedure of Loan in Bank of Maharashtra

 Objective of the study: To know the services and facilities offered by Bank of
Maharashtra to customer.

 Purpose of the study: To Know that Customer is satisfied with Loan facilities
producer adopted by Bank of Maharashtra

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ANALYSIS OF THE DATA

I have analyzed the data collected through the questionnaire and have classified the data
into tables.

TABLE-I

The given below BAR graph shows the response of 30 customer,but the graph has been
represented in the percentage formate.

SERVICES EXPECTED FROM BOM

QUICK RESPONSE
GOOD CUSTOMER RELATION
EXTRA FACILITY FOR EXISTING CUSTOMER

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INTERPRETATION

In the above bar diagram, 38 of them said that they expect QUICK RESPONSE from the
BOM bank, 37 said they expect GOOD CUSTOMER RELATION and 25 customers said
that they expect EXTRA FACILITY FOR EXISTING CUSTOMER.

TABLE-II

The given below BAR graph shows the response of 30 customer,but the graph has been
represented in the percentage formate. “SATISFACTION LEVEL OF CUSTOMER
AFTER AVAILING LOAN”

SATISFACTION AFTER
AVAILING LOAN

SATISFIED 42
NORMAL 34
DISSATISFIED 24

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INTERPRETATION

In the above graph, 42 were found SATISFIED after taking loan from BOM , 34
Customer were NORMALY satisfied from BOM and 24 were DISSATISFIED because of
interest charged, and behavior of the employee.

TABLE-III

The given below Bar chart shows the “CUSTOMER WANTS TO TAKE ANOTHER
LOAN FROM BOM”

CUSTOMER WANTS TO TAKE ANOTHER LOAN


FROM BOM

YES 68%
NO 32%

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Interpretation:

The above bar chart shows that, 68 would like to take another loan from BOM but 32
would not like to take another loan from BOM

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TABLE-IV

The given bar Graph shows the” INFLUENCING FACTOR FOR LOAN FROM
BOM”

INFLUENCING FACTOR FOR LOAN FROM


BOM

ADVERTISEMENT 26
FRIENDS 20
EASY AVAILABILITY OF LOAN 22
TRUST 32

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Interpretation:

In the above graph, 32 said trust, 26 said advertisement,22 said easy availability and rest

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TABLE-V

The given Pie chart shows the processing procedure while availing loan:

28% 30%

Excellent
Good
Average

42%

Interpretation:

In the above pie chart 42 peoples said good, 30 people said excellent and rest 28 people
said average about the processing procedure while availing the loan.

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TABLE-VI

The given Pie chart shows the co-operation of the bank employees in processing and
helping in documentation:

Interpretation:
In the above pie chart, 55 peoples said good, 21 said excellent and 24 peoples said
average about co-operation of employees in processing and documentation.

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TABLE-VII

The given Pie chart shows the interest rate charged upon the loan available:

Interpretation:

In the above pie chart, 49 said averages, 36 said good and 15 said excellent about the
interest rate charged upon the loan available

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FINDINGS

 Customers were satisfied from the quick response and good customer
relationship.

 Customer found employees of BOM very helpful and cooperative.

 Customer are more influenced for taking loan from BOM because of trust,
customers have on BOM.

 Customer found the procedure of availing loan simple and hassle free.

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LIMITATIONS

 The survey was conducted in the BOM.

 Target customers and respondents were too busy persons, so it was difficult to get
their time and view for specific questions.

 Area covered for the project while doing job also was very large and it was very
difficult to correlate two different customers / respondents’ views in a one.

 Every financial customer has his / her own need and according to the
requirements of the customer product customization was not
possible

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CONCLUSION

BOM is providing good services to the clients during sanctioning the loan. They
cooperate with the clients to given maximum benefits. Different banks offer same product
but services only aspect, which differentiate banks products. Services through corporate
banking, personal banking BOM reaches among the maximum number of customers
across the country and More than average number of customers were found satisfied by
the offered services of BOM.

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QUESTIONNAIRE

1) Name: 2) Profession:

3) Age group :
A)18-30 yrs. B)31-40 yrs. C)41-50 yrs. D)51-60 yrs.

4) Annual Income (in Rs.)


A) 60000-200000 b) 200000-400000 c) 400000-1000000 d) Above 1000000

5) What kind of service or services do you expect from BOM?


A) Quick Response B) Good Customer Relation
C) Extra Facility for Existing Customer

6) What influence you at taking loan from BOM?


A) Advertisement B) Friend/Relative
C) Easy availability loan D) Trust

7) How do you find the processing procedure while availing the loan?
A) Excellent B) Good C) Average

8) How do you find the cooperation of the bank employees in processing and helping
you with documentation?
A) Excellent B) Good C) Average

9) How do you find the interest rate charged upon the loan available?
A) Excellent B) Good C) Average

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10) Would you like to take another loan from BOM in future?
A) Yes B) Nos

11) Your overall level of satisfaction with BOM:


A) Satisfied B) Normal C) Dissatisfied

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BIBLIOGRAPHY

www.bankofmaharashtra.in
www.google.com
Hand book of Bank Of Mharashtra

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