A

COMPREHENSIVE PROJECT REPORT

ON

"JOB SATISFACTION OF EMPLOYEES AT AXIS BANK"

Submitted to

C K SHAH VIJAPURWALA INSTITUTE OF MANAGEMENT

IN PARTIAL FULFILLMENT OF THE

REQUIREMENT OF THE AWARD FOR THE DEGREE OF

MATERS OF BUSINESS ADMINISTRATION

Under

Gujarati Technological University

UNDER THE GUIDANCE OF

Faculty Guide Company Guide

Ms.Ranjita Banerjee Mr. Amit Sharma

(Asst. Prof.) (Manager)

Submitted by

PRIYAL PATEL(137050592070)

KIRAN DASWANI(137050592016)

MBA- SEM IV

C K SHAH Vijapurwala Institute Of Management

M.B.A PROGRAME

Affiliated to Gujarat Technological University

Ahmedabad

APRIL 2015
 PREFACE

The global economy of the day has endangered the survival of every organization &
in particular those who want to have a competitive edge over the others. The
competitive edge may be a distant dream in the absence of superior quality products,
which otherwise is the function of well trained employees. Theory of any subject is
important but without its practical knowledge, how one can get the need for that
subject in the business environment. A student cannot become perfect without perfect
understanding of their branch hence; we think that practical training provides a golden
opportunity for enhancing our knowledge training is the perfect platform to discuss
and learn suggestions from experience and learned managers and personnel .
 ACKNOWLEDGEMENT

We would love to thank our supervisor Ms.Ranjita Banerjee, for offering us the
great opportunity for preparing this project report entitled by “JOB SATISFACTION
LEVEL OF THE EMPLOYEES OF AXIS BANK" for my MBA degree, and for her
patient guidance and advice throughout our study. Our project work was only
possible with great support of her.

we are deeply indebted to our Head of Department Dr. Rajesh Khajuria whose
encouragement helped us in all the times for writing these.

We are also grateful to Mr. Amit sharma(manager) at Axis bank who have been
always helpful to us in our efforts to prepare this project report.

Last but not the least we will like to say a very special thanks to the other members
of the staff of Dept. of C.K. SHAH VIJAPURWALA INSITITUTE OF
MANAGEMENT, and our colleagues, who have from time to time, help us,
throughout the project work.

PRIYAL PATEL

KIRAN DASWANI
 DECLARATION

We, PRIYAL PATEL and KIRAN DASWANI hereby declare that the
“Comprehensive project” entitled “JOB SATISFACTION LEVEL OF THE
EMPLOYEES OF AXIS BANK" is a result of our own work and our indebtness to
other work publication, reference, if any, have been duly acknowledged.

PLACE:VADODARA PRIYAL PATEL

DATE: KIRAN DASWANI

 EXECUTIVE SUMMARY
Job satisfaction in regards to one's feeling or state of mind regarding nature of their
work. Job can influenced by variety of factors like quality of one's relationship with
their supervisor, quality of physical environment in which they work, degree of
fulfillment in their work, etc.

Positive attitude towards job are equivalent to job satisfaction where as negative
attitude towards job has been defined variously from time to time. In short job
satisfaction is a person's attitude towards job.

Job satisfaction is an attitude which results from balancing & summation of many
specific likes and dislike experienced in connection with the job- their evaluation
may rest largely upon one's success or failure in the achievement of personal
objective and upon perceived combination of the job and combination towards
these ends.

Job satisfaction is an important indicator of how employees feel about their job and
a predictor of work behavior such as organizational citizenship, absenteeism,
turnover.

Job satisfaction benefits the organization includes reduction in complaints and

grievances, absenteeism, turnover and termination; as well as improved punctuality
and worker morale. job satisfaction is also linked with a healthier work force and
has been found to be a good indicator of longevity.

A survey was conducted before finalizing the questionnaire. Data collection was
also done with the help of personal observation. After completion of survey the data
was analyzed and conclusion was drawn. At the end all information was compiled to
complete the project report.
 TABLE OF CONTENTS
SR. NO PARTICULARS PG.NO

GENERAL INFORMATION

1. Company Introduction

World Market

Indian Market

2. Major Companies in Industry

3. Product Profile

PRIMARY STUDY

4. Introduction Of Job Satisfaction

History Of Job Satisfaction

Objectives of the Study

5. Research Methodology

Research Design

Data Collection

Sample Size

Sampling Method

6. Hypothesis Frame

7. Data Analysis & Interpretation

8. Findings

9. Conclusion & suggestion

10. Limitation Of Study

11. Conclusion Of Hypothesis

 PART-I

GENERAL INFORMATION
ABOUT THE INDUSTRY

Modern banking in India could be traced back to the establishment of Bank of Bengal (Jan
2, 1809), the first joint-stock bank sponsored by Government of Bengal and governed by
the royal charter of the British India Government. It was followed by establishment of Bank
of Bombay (Apr 15, 1840) and Bank of Madras (Jul 1, 1843). These three banks, known as
the presidency banks, marked the beginning of the limited liability and joint stock banking
in India and were also vested with the right of note issue.

In 1921, the three presidency banks were merged to form the Imperial Bank of India, which
had multiple roles and responsibilities and that functioned as a commercial bank, a banker
to the government and a banker‟s bank. Following the establishment of the Reserve Bank
of India (RBI) in 1935, the central banking responsibilities that the Imperial Bank of India
was carrying out came to an end, leading it to become more of a commercial bank. At the
time of independence of India, the capital and reserves of the Imperial Bank stood at Rs
118 , deposits at Rs 2751 and advances at Rs 723 mn and a network of 172 branches
and 200 sub offices spread all over the country.

In 1951, in the backdrop of central planning and the need to extend bank credit to the rural
areas, the Government constituted All India Rural Credit Survey Committee, which
recommended the creation of a state sponsored institution that will extend banking
services to the rural areas. Following this, by an act of parliament passed in May 1955,
State Bank of India was established in Jul, 1955. In 1959, State Bank of India took over
the eight former state-associated banks as its subsidiaries. To further accelerate the credit
to flow to the rural areas and the vital sections of the economy such as agriculture, small
scale industry etc., that are of national importance, Social Control over banks was
announced in 1967 and a National Credit Council was set up in 1968 to assess the
demand for credit by these sectors and determine resource allocations. The decade of
1960s also witnessed significant consolidation in the Indian banking industry with more
than 500 banks functioning in the 1950s reduced to 89 by 1969.
For the Indian banking industry, Jul 19, 1969, was a landmark day, on which
nationalization of 14 major banks was announced that each had a minimum of Rs 500
and above of aggregate deposits. In 1980, eight more banks were nationalized. In 1976,
the Regional Rural Banks Act came into being, that allowed the opening of specialized
regional rural banks to exclusively cater to the credit requirements in the rural areas.
These banks were set up jointly by the central government, commercial banks and the
respective local governments of the states in which these are located.

The period following nationalization was characterized by rapid rise in banks business and
helped in increasing national savings. Savings rate in the country leapfrogged from 10-
12% in the two decades of 1950-70 to about 25 % post nationalization period. Aggregate
deposits which registered annual growth in the range of 10% to 12% in the 1960s rose to
over 20% in the 1980s. Growth of bank credit increased from an average annual growth of
13% in the 1960s to about 19% in the 1970s and 1980s. Branch network expanded
significantly leading to increase in the banking coverage.

Indian banking, which experienced rapid growth following the nationalization, began to
face pressures on asset quality by the 1980s. Simultaneously, the banking world
everywhere was gearing up towards new prudential norms and operational standards
pertaining to capital adequacy, accounting and risk management, transparency and
disclosure etc. In the early 1990s, India embarked on an ambitious economic reform
program in which the banking sector reforms formed a major part. The Committee on
Financial System (1991) more popularly known as the Narasimham Committee prepared
the blue print of the reforms. A few of the major aspects of reform included (a) moving
towards international norms in income recognition and provisioning and other related
aspects of accounting (b) liberalization of entry and exit norms leading to the
establishment of several New Private Sector Banks and entry of a number of new Foreign
Banks (c) freeing of deposit and lending rates (except the saving deposit rate), (d) allowing
Public Sector Banks access to public equity markets for raising capital and diluting the
government stake,(e) greater transparency and disclosure standards in financial reporting
(f) suitable adoption of Basel Accord on capital adequacy (g) introduction of technology in
banking operations etc. The reforms led to major changes in the approach of the banks
towards aspects such as competition, profitability and productivity and the need and scope
for harmonization of global operational standards and adoption of best practices. Greater
focus was given to deriving efficiencies by improvement in performance and rationalization
of resources and greater reliance on technology including promoting in a big way
computerization of banking operations and introduction of electronic banking.

The reforms led to significant changes in the strength and sustainability of Indian banking.
In addition to significant growth in business, Indian banks experienced sharp growth in
profitability, greater emphasis on prudential norms with higher provisioning levels,
reduction in the non performing assets and surge in capital adequacy. All bank groups
witnessed sharp growth in performance and profitability. Indian banking industry is
preparing for smooth transition towards more intense competition arising from further
liberalization of banking sector that was envisaged in the year 2009 as a part of the
adherence to liberalization of the financial services industry

When compared to other emerging markets, the growth of Indian banking has been
impressive and compares favorably on several counts. A recent study by Bank for
International Settlements on the progress and the prospects of banking systems in
emerging countries highlights the following features of the performance of Indian banks:

 Average growth rate of real aggregate credit in India rose from 6.1% during the
period 1995- 99 to 14.6 % in 2000-04.

 The average growth rate of real aggregate credit in India during 2000-04 in India is
higher as compared to major countries and regions in the emerging markets, such
as China (13.3%), Other Asia (4.7%), Latin America (4.5%), and Central Europe
(9.6%).

 Commercial banks in India account for a major share of the bank credit (97%) as
compared to Latin America (68%), Other Asia (74%) and Central Europe (83%).

 Real bank credit to the private sector has shown sustained growth in India, and has
moved from 3.9% a year in 1990-94 to 6.9% a year in 1995-99 to 13.5 % a year in
2000-04. In 2005, real bank credit to the private sector in India showed a growth of
30% year-on-year as against 9.4% in China and 15.8% in emerging markets.
 In India, during the period 1999 and 2004, non-performing loans as a percentage of
total commercial bank assets came down from 6.1% to 3.3%, capital asset ratios
moved up from 11.3% to 12.9% and operating costs as a percentage of total assets
reduced from 2.4% to 2.3%. NPAs in China in 2004 stood at 6%.

 In India, return on assets of banks during the period 1999-2004 moved up from
0.4% to 1.1%, and return on equity from 8.5% to 20.9% where as in China the
former rose from 0.1% to 0.3%.
 WORLD MARKET

From the severe setback experienced in 2008-09, the global economy moved ahead with
mixed economic momentum, mostly tilted toward a positive economic growth trajectory in
2010-11. Several prominent economies across the globe spent the last couple of years
reforming their regulatory and policy structures in the wake of the financial crisis. As per
IMF, global real GDP for 2010 increased 3.8%, led by a slow recovery in advanced and
emerging countries.

While recovery across emerging economies was strong, the advanced economies
continue to be fragile, with growing concerns of unemployment, heavily indebted
households and governments, and slow recovery of financial institutions. As per Global
Economic Prospects, World Bank projects the global growth to remain strong in 2011 &
2012. After reaching a growth rate of 3.8% in 2010, the global real GDP growth is
projected to remain firm at 3.6% in 2012 and 2013. Developing economies would be a
major contribution to this, growing at a much higher rate of 6.3% by 2013. On the other
hand, GDP in advanced economies is projected to grow by 2.7% in 2012. The US
economy expanded 2.8% in 2010 and is expected to retain the growth of 2.7% in 2013.

In line with economic growth and stability, the global banking system is also getting back
to shape. Most banks have undertaken suitable steps to enhance business and
profitability. However, banks in countries that were worse hit during the crisis are yet to
deal with the pile of bad assets.

Domestic credit growth moderates in 2014

Following the financial crisis, a number of developing countries experienced rapid

expansion in credit and capital inflows. Inflationary pressures led to hardening of interest
rates in emerging economies. Short term interest rates in majority of the developing
countries have been rising, while policy rates in developed countries have been broadly
stable. Better growth prospects in many emerging economies and low interest rates in
major economies led to a resurgence of capital flows to some emerging economies.
However, to avoid overheating and asset bubbles, the central banks of emerging
countries implemented several monetary tightening measures. Consequently, credit
growth in many emerging markets slowed down in 2014 compared to 2014. For instance,
policy makers in Brazil adopted a mix of measures to curb inflation including higher
interest rate, budget cuts, raising reserve and capital requirements and increasing taxes
on foreign loans with the aim of reducing credit and restricting capital inflows. Similarly,
credit growth in India narrowed down to 20.8% in 2014, as RBI raised key policy rates
several times since Mar 2014.

Banks in developed countries still remain fragile

For analyzing recent trends in the banking space of major developed and emerging
markets, D&B compiled major performance indicators of banks with the highest asset
base. This analysis shows that a majority of the banks in advanced markets, that were
adversely affected by write-downs and losses in the previous year, registered growth in
profits. Few developed countries including; the US, UK, France and Germany continued
to showed erosion in revenue growth. Bank of America (US) continues to face headwinds
with respect to growth in revenue and profit, while its total assets showed modest
improvements. On the other hand, banks in emerging markets registered healthy growth
except Banco do Brasil (Brazil) that saw a drop of 5.7% in bottom line. Profitability of
Indian banks was robust compared to its counterparts in BRIC and other emerging
markets.

Aggregate financial soundness indicators exhibit uneven recovery

During 2010, overall recovery in 2010 was much more robust in the emerging markets
than developed countries. While developed economies face the challenge of maintaining
sustainable recovery, policy makers in the emerging markets need to have a cautious
approach towards large capital inflows. Further, in emerging economies, inflation has
emerged a major area of concern.
Worldwide improvement in banks capital adequacy ratio

In FY10, the overall health of the banking sector measured by Capital to Risk Weighted
Assets Ratio (CRAR) showed signs of improvement across advanced and emerging
markets. The capital composition of US and European banks showed distinctive
improvement and reached the highest since 2005 owing to slower growth in private credit
and shift in lending portfolios towards low-risk assets such as government securities.
Among emerging markets, China recorded the lowest CRAR of 12.2%, followed by India
at 13.6%. Both Russia and Brazil recorded decline in CRAR compared to 2010, indicating
increased risk exposure and probable capital adequacy problems.

Profitability Indicators

Disposal of non performing loans (NPL) after the bubble burst led to sluggish return on
banks‟ assets in 2009. Strong earnings and asset write-downs led to big jump in ROA. In
FY10, ROA of banks in advanced economies was between 0.4% and 1.4%, but that of
the developing economy banks was between 1% and 2.9%. Among developed
economies, US showed significant improvement in 2010 compared to 2009. Among
developing nations, both Chinese and Indian banks remained consistent.

In line with ROA, improvement in ROE too was evident in emerging economy banks as
against advanced countries. Among the emerging countries considered in our universe,
ROE was the highest for Indonesian banks at 26.1%. For the first time since the crisis, US
banks reported positive ROE of 8.2% in 2010. The Canadian banking industry topped the
developed markets in terms of return on equity. Among emerging markets, Russia
regained global investor confidence with more than double ROE growth. Indian Banks
saw a drop to 12.5% (from 13.1% in FY10).

Asset Quality Indicators

Countries in emerging markets reflected improvement in overall asset quality. Russia,

which recorded the highest NPL ratio of 9.5% in the entire dataset during 2009 improved
to 8.2% in 2010. Further, Russian banks remained fairly balanced to meet defaults with
provisioning of more than 100%. A series of key regulatory measures coupled with
expansionary fiscal policy that boosted exports and financial flows and remittances were
some of the critical contributors. On the contrary, the Indian banking system which
displayed continued improvement in NPL ratio since 2005, saw a marginal increase in
NPL to 2.4% in 2010. Interestingly, among the emerging markets in the data set, India is
the only country that experienced marginal acceleration in NPL ratio in 2010. Surpassing
all countries in the data set, the Chinese banking system remained robust with
provisioning of more than 200% in 2010.

For majority of the banks in developed markets, NPL ratio was lower than that at the pre-
crisis levels. For US banks, asset quality indicators continue to exhibit improvements. As
per FDIC (Federal Deposit Insurance Corporation), total credit exposure of all FDIC-
insured institutions fell almost 12.6% from USD 6.5 bn in Q1 2010 to USD 5.7 bn in Q1
2011. However, asset quality of European banks deteriorated in 2010, mainly due to the
economic slump across major markets.
 INDIAN MARKET

Banking in India in the modern sense originated in the last decades of the 18th century.
The first banks were Bank of Hindustan (1770-1829) and The General Bank of India,
established 1786 and since defunct.

The largest bank, and the oldest still in existence, is the State Bank of India, which
originated in the Bank of Calcutta in June 1806, which almost immediately became
the Bank of Bengal. This was one of the three presidency banks, the other two being
the Bank of Bombay and the Bank of Madras, all three of which were established under
charters from the British East India Company. The three banks merged in 1921 to form
the Imperial Bank of India, which, upon India's independence, became the State Bank of
India in 1955. For many years the presidency banks acted as quasi-central banks, as did
their successors, until the Reserve Bank of India was established in 1935.

In 1969 the Indian government nationalised all the major banks that it did not already own
and these have remained under government ownership. They are run under a structure
known as 'profit-making public sector undertaking' (PSU) and are allowed to compete and
operate as commercial banks. The Indian banking sector is made up of four types of banks,
as well as the PSUs and the state banks, they have been joined since the 1990s by new
private commercial banks and a number of foreign banks.

Generally banking in India was fairly mature in terms of supply, product range and reach-
even though reach in rural India and to the poor still remains a challenge. The government
has developed initiatives to address this through the State Bank of India expanding its
branch network and through the National Bank for Agriculture and Rural Development with
things like microfinance. This also included the 2014 plan by the then prime minister to
bring bank accounts to the estimated 40% of the population that were still unbanked.
 Indian Banking Industry - An Overview

Evolution of the Indian Banking Industry:

The Indian banking industry has its foundations in the 18th century, and has had a
varied evolutionary experience since then. The initial banks in India were primarily
traders‟ banks engaged only in financing activities. Banking industry in the pre-in
dependence era developed with the Presidency Banks, which were transformed into
the Imperial Bank of India and subsequently into the State Bank of India. The initial
days of the industry saw a majority private ownership and a highly volatile work
environment. Major strides towards public ownership and accountability were made
with nationalization in 1969 and 1980 which transformed the face of banking in India.
The industry in recent times has recognized the importance of private and foreign
players in a competitive scenario and has moved towards greater liberalization.
Figure1 Indian Banking Structure
Current Structure

Currently the Indian banking industry has a diverse structure. The present structure of
the Indian banking industry has been analyzed on the basis of its organised status,
business as well as product segmentation.

Organizational Structure

Scheduled Banks

A scheduled bank is a bank that is listed under the second schedule of the RBI Act,
1934. In order to be included under this schedule of the RBI Act, banks have to fulfill
certain conditions such as having a paid up capital and reserves of at least 0.5 million
and satisfying the Reserve Bank that its affairs are not being conducted in a manner
prejudicial to the interests of its depositors. Scheduled banks are further classified into
commercial and cooperative banks. The basic difference between scheduled
commercial banks and scheduled cooperative banks is in their holding pattern.
Scheduled cooperative banks are cooperative credit institutions that are registered
under the Co-operative Societies Act. These banks work according to the cooperative
principles of mutual assistance.

Commercial Banks (CBs)

Commercial banks (CBs) account for a major proportion of the business of the
scheduled banks. CBs in India are categorized into the five groups based on their
ownership and/or their nature of operations. State Bank of India and its five associates
are recognized as a separate category of SCBs, because of the distinct statutes (SBI
Act, 1955 and SBI Subsidiary Banks Act, 1959) that govern them. The public sector
banks group control around 70% of the total credit and deposits businesses in India.
IDBI ltd. has been included in the nationalized banks group since December 2004.
Private Sector Banks

Private sector Banks include the old private sector banks and the new generation
private sector banks - which were incorporated according to the revised guidelines
issued by the RBI regarding the entry of private sector banks in 1993.

Foreign banks are present in the country either through complete branch/subsidiary
route presence or through their representative offices.

Regional Rural Banks (RRBs):

RRBs were set up in September 1975 in order to develop the rural economy by
providing banking services in such areas by combining the cooperative specialty of
local orientation and the sound resource base which is the characteristic of commercial
banks. RRBs have a unique structure, in the sense that their equity holding is jointly
held by the central government, the concerned state government and the sponsor bank
(in the ratio 50:15:35), which is responsible for assisting the RRB by providing financial,
managerial and training aid and also subscribing to its share capital.

Co - operative Banks:

Co-operative banks in India can be broadly classified into urban credit co-operative
institutions and rural cooperative credit institutions. Rural co-operative banks undertake
long term as well as short term lending. Credit co-operatives in most states have a
three tier structure (primary, district and state level).

Non - Scheduled Banks:

Non-scheduled banks also function in the Indian banking space, in the form of Local
Area Banks (LAB). LABs aid in the mobilisation of funds of rural and semi urban
districts. LABs were later amalgamated with Bank of Baroda in 2004 due to its weak
financial position.
Business Segmentation

The entire range of banking operations are segmented into four broad heads- Retail
banking businesses, Wholesale banking businesses, Treasury operations and other
banking activities. Banks have dedicated business units and branches for retail banking,
wholesale banking (divided again into large corporate, mid corporate) etc.

Retail banking

It includes exposures to individuals or small businesses. Retail banking activities are

identified based on four criteria of orientation, granularity, product criterion and low
value of individual exposures. In essence, these qualifiers imply that retail exposures
should be to individuals or small businesses and could take any form of credit like cash
credit, overdrafts etc. Retail banking products on the liability side includes all types of
deposit accounts and mortgages and loans (personal, housing, educational etc) on the
assets side of banks. It also includes other ancillary products and services like credit
cards, demat accounts etc.

The major component of the retail portfolio of banks is housing loans, followed by auto
loans. Retail banking segment is a well diversified business segment. Most banks have
a significant portion of their business contributed by retail banking activities. The largest
players in retail banking in India are ICICI Bank, SBI, PNB, BOI, HDFC and Canara
Bank. Among the large banks, ICICI bank is a major player in the retail banking space
which has had definitive strategies in place to boost its retail portfolio. It has a strong
focus on movement towards cheaper channels of distribution, which is vital for the
transaction intensive retail business. SBI‟s retail business is also fast growing and a
strategic business unit for the bank. Among the smaller banks, many have a visible
presence especially in the auto loans business. Among these banks the reliance on
their respective retail portfolio is high, as many of these banks have advance portfolios
that are concentrated in certain usages, such as auto or consumer durables.
Wholesale Banking:

Wholesale banking includes high ticket exposure primarily to corporate. Internal

processes of most banks classify wholesale banking into mid - corporate and large
corporate according to the size of exposure to the clients. A large portion of wholesale
banking clients also account for off balance sheet businesses. Hedging solutions form a
significant portion of exposures coming from corporate. Hence, wholesale banking
clients are strategic for the banks with the view to gain other business from them.
Various forms of financing, like project finance, leasing finance, finance for working
capital, term finance etc form part of wholesale banking transactions. Syndication
services and merchant banking services are also provided to wholesale clients in
addition to the variety of products and services offered.

Wholesale banking is also a well diversified banking vertical. Most banks have a
presence in wholesale banking. But this vertical is largely dominated by large Indian
banks. While a large portion of the business of foreign banks comes from wholesale
banking, their market share is still smaller than that of the larger Indian banks. A number
of large private players among Indian banks are also very active in this segment.
Among the players with the largest footprint in the wholesale banking space are SBI,
ICICI Bank, IDBI Bank, Canara Bank, Bank of India, Punjab National Bank and Central
Bank of India. Bank of Baroda has also been exhibiting quite robust results from its
wholesale banking operations.
Treasury Operations:

Treasury operations include investments in debt market (sovereign and corporate),

equity market, mutual funds, derivatives, and trading and forex operations. These
functions can be proprietary activities, or can be undertaken on customer‟s account.
Treasury operations are important for managing the funding of the bank. Apart from
core banking activities, which comprises primarily of lending, deposit taking functions
and services; treasury income is a significant component of the earnings of banks.
Treasury deals with the entire investment portfolio of banks and provides a range of
products and services that deal primarily with foreign exchange, derivatives and
securities. Treasury involves the front office (dealing room), mid office (risk
management including independent reporting to the asset liability committee) and back
office (settlement of deals executed, statutory funds management etc).

Other Banking Businesses:

This is considered as a residual category which includes all those businesses of banks
that do not fall under any of the aforesaid categories. This category includes PARA
banking activities like hire purchase activities, leasing business, merchant banking,
factoring activities etc.
 GROWTH OF INDUSTRY

with the potential to become the fifth largest banking industry in the world by 2020 and
third largest by 2025 according to KPMG-CII report, India‟s banking and financial sector
is expanding rapidly. The Indian Banking industry is currently worth Rs. 81 trillion (US
$ 1.31 trillion) and banks are now utilizing the latest technologies like internet and
mobile devices to carry out transactions and communicate with the masses.
The Indian banking sector consists of 26 public sector banks, 20 private sector banks
and 43 foreign banks along with 61 regional rural banks (RRBs) and more than 90,000
credit cooperatives.

Factors promoting growth of Banking and Financial Services

The Banking Laws (Amendment) Bill that was passed by the Parliament in 2012 allowed
the Reserve Bank of India (RBI) to make final guidelines on issuing new bank licenses.
Moreover, the role of the Indian Government in expanding the banking sector is
noteworthy. It is expected that the new guidelines issued by RBI will curb practices of
impish borrowers and streamline the loan system in the country. In the coming time,
India could see a rise in the number of banks in the country, a shift in the style of
operation, which could also evolve by incorporating modern technology in the industry.
Another emerging trend witnessed by the banking sector is the use of social media
platform like Facebook to attract customers. In September 2013 ICICI bank launched a
Facebook bill payment and fund transfer service called „Pockets‟ for customer
convenience.
According to a report by Zinnov, a Globalization and Market Expansion firm, „IT
adoption in BSFI sector in India‟, the Information Technology Industry spend in BFSI
vertical is expected to reach USD 3.5 billion by Financial Year 2014. The study also
highlighted „the growing maturity of Indian BFSI organizations in IT adoption, as
technology is seen as a driver of business value. Technology firms have great potential
to explore in the BFSI sector, which contributes to eight per cent of India's Gross
Domestic Product.‟
Life Insurance
The Indian life insurance industry is estimated to grow at a compounded annual growth
rate (CAGR) of 14.1 per cent, and reach US$ 111.9 billion in 2015 from US$ 66.5 billion
in 2011, according to a report by BRIC data. This would make India the third-largest
market for life insurance in the world by 2015. India‟s present position is at number 12,
among top global markets for life insurance. Number of policies sold is expected to
increase to 85.21 million in 2015 from 53.23 million in 2010. The 2014-15 Union Budget
should exempt life insurance products from taxation to provide investors an incentive to
buy a policy. The insurance industry can gain leverage from India's burgeoning
population only by providing a special tax window for life insurance policies.

Health Insurance
In the non-life insurance industry, health insurance is the second largest segment in
India; with players in both the public and private sectors playing an active role. The
industry is concentrated around 4 major public sector companies namely, New India
Assurance, United India Insurance, National Insurance and Oriental Insurance.
The Indian health insurance industry has seen major growth in the past 6 years. The
Indian health insurance industry is expected to grow at a CAGR of 37.2% from FY‟2011
- FY‟2016; with surging medical costs, rising population and increased awareness
among consumers in the country.

Recruitment Trends in BSFI Industry

The Banking and Financial Services Industry is expected to recruit about 8.4 million
people as per the growth rate each year. BSFI workforce requirement between 2008
and 2022 is expected to be about 4.2 million and sector may create up to 20 lakh new
jobs in the next 5-10 years.
Advantaged by issuance of new licences and efforts being made by the RBI and the
Government to expand financial services into rural areas, the hiring trend may further
get a boost from the public sector banks. Since most banking workforce is scheduled to
retire in the times to come, they would be in dire need of fresh talent. Randstad India,
global HR service provider in India, the banking sector will generate 7-10 lakh jobs in
the coming decade and the sector would be the among top job creators in 2014.

According to „Human Resource and Skill Requirements in the Banking, Financial

Services & Insurance Sector (2022) report, apart from the on-rolls employment there is
significant contractual employment across all the above segments through various
financial positions such as Direct Selling Agents (DSA‟s), Insurance agents, Mutual
Fund Advisors, etc.

Challenges in BFSI
The major challenge faced by the Indian Banking and Financial sector is that the level of
financial exclusion in India is alarming and there is an urgent need to find a plausible
solution to the same. The IBA–BCG survey of banks revealed that the level of
confidence in finding profitable solutions for financial inclusion is not very high. Financial
inclusion has solely been the responsibility of public banks up until now, but by using
inclusive growth as one of the criteria for new licences (new banks have to open 25 per
cent of their branches in rural areas); the RBI will have made the new private sector
banks responsible as well. Currently, public sector banks have more branches than any
other bank group in the rural and semi-urban areas.
The banking and insurance industry is challenged by competitive pressures, changes in
customer loyalty, stringent regulatory environment and entry of new players, all of which
are pressuring the organizations to adopt new business models, streamline operations
and improve processes.
Road Ahead
An IBA-FICCI-BCG report suggests that India‟s gross domestic product (GDP) growth
will make the Indian banking industry the third largest in the world by 2025. According to
the report, the domestic banking industry is set for an exponential growth in coming
years with its assets size poised to touch USD 28,500 billion by the turn of the 2025.
With the deposits growing at a CAGR of 21.2 per cent (in terms of INR) in the period FY
06–13, there has been evident growth in the overall industry.
This growth can be attributed to banks shifting focus to client servicing. Public as well
as private sector banks are underlining the importance of technology infrastructure, in
order to improve customer experience and gain a competitive edge. Utilizing the
popularity of internet and mobile banking, banks are increasingly adopting an integrated
approach for asset–liability match, credit and derivatives risk management.
 ABOUT MAJOR COMPANY IN INDUSTRY

Dena Bank was founded in 1938 by Mr Devakaran Nanjee under the name Devakaran
Nanjee Banking Company. Later the name was changed to Dena Bank. The bank is
headquartered in Mumbai, India and was nationalised by the Government of India in
1969 along with 13 other major banks. The bank has over 1,400 branches.

Canara Bank was founded in 1906 by Mr Ammembal Subba Rao Pai at Mangalore in
Karnataka. The bank has gone through various phases of growth trajectory in over
hundred years of its existence. The growth of the bank has been phenomenal,
especially after nationalization in 1969 and attaining the status of a national level player
in terms of geographical reach and clientele segments.

As of June 2014, the bank has expanded its domestic presence with 5,003 branches
spread across all geographical segments. Keeping customer convenience at the
forefront, Canara Bank provides a wide array of alternative delivery channels that
include over 6,509 ATMs covering 3,658 centers. The bank has set up 102 hi-tech E-
lounges in select branches with facilities like ATM, cash deposit kiosk with voice guided
system, cheque deposit kiosk, self-printing passbook kiosk, Internet banking terminal,
online trading terminal and corporate website access.
Bank of Baroda was founded by Maharaja Sayajirao Gaekwad on July 20, 1908. It was
set up under the Companies Act of 1897 with a paid up capital of Rs 1 million (US$
16,357.89). At present, Bank of Baroda is one of the most popular banks in India as well
as abroad. As of March 31, 2012, the bank had total asset size of Rs 447321.47 crore,
which places it amongst the top five banks in terms of asset size in the country.

Bank of Baroda has over 4,900 branches in India and over 100 branches in around 25
foreign countries. In total, it has over 5,000 branches all over the world employing
around 42,215 employees. Bank of Baroda is known for its financial integrity, business
prudence, caution and an abiding care and concern for the hard earned savings of its
customers. This has become the central philosophy around which its business decisions
revolve.
The Hongkong and Shanghai Banking Corporation (HSBC) is one of the foremost
foreign banks in India. Headquartered in London, it was originally established in Hong
Kong by Mr Thomas Sutherland in 1865, with a view to serve the needs of the
merchants of the China coast and finance the growing trade between China, Europe
and the United States. HSBC came to India when it acquired the Mercantile Bank of
India in 1959. From then onwards it came to be known as HSBC India.

The bank has since steadily grown in reach and service offerings, keeping pace with the
evolving banking and financial needs of its customers. In India, the bank offers a
comprehensive suite of world-class products and services to its corporate and
commercial banking clients as also to a fast growing personal banking customer base.
The organization‟s adaptability, resilience and commitment to its customers have further
enabled it to survive through turbulent times and prosper through good times over the
past 150 years. Presently, it has over 50 bank branches in cities across India and over
40 ATM locations.
Punjab National bank (PNB) is one of the largest nationalized banks in India providing
services to its customers. The bank enjoys strong fundamentals, large franchise value
and good brand image.

PNB was founded on May 19, 1894. The founding board was drawn from different parts
of India professing different faiths and having varied backgrounds, but with the common
objective of providing India with a truly national bank which would further the economic
interests of the country.
With more than 120 years of strong existence and 6,081 total branches including five
foreign branches and 6,940 ATMs as on Mar 2014, PNB serves more than 8.9 crore
customers.
The bank has overseas presence in 10 countries by way of five branches, three
subsidiaries, a joint venture (JV) and five representative offices.
PNB has a strong capital base with capital adequacy ratio of 12.29 per cent as per
Basel II and 11.52 per cent as per Basel III, as on March 2014. The bank has
maintained its number one position with highest book value per share of Rs 952.50
(US$ 15.84) amongst peers, as at the end of FY 14.
ICICI Bank is India's largest private sector bank with total assets of Rs 5,367.95 billion
(US$ 89.24 billion) for the year ended March 31, 2013. The bank has a network of 3,753
branches and 11,292 ATMs in India, and has a presence in 18 other countries.

It offers a wide range of banking products and financial services to corporate and retail
customers through a variety of delivery channels and through its specialised
subsidiaries in the areas of investment banking, life and non-life insurance, venture
capital and asset management.

ICICI Bank has subsidiaries in the United Kingdom, Russia and Canada; branches in
United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai
International Finance Center; and representative offices in United Arab Emirates, China,
South Africa, Bangladesh, Thailand, Malaysia and Indonesia.
Its equity shares are listed in India on Bombay Stock Exchange (BSE) and the National
Stock Exchange of India Ltd (NSE) and its American Depositary Receipts (ADRs) are
listed on the New York Stock Exchange (NYSE).
Founded in August 1986, SBI Capital Markets Ltd (SBICAP) is a wholly owned
subsidiary and the investment banking arm of the State Bank of India (SBI), the largest
commercial bank in the country.

SBICAP is the country's largest domestic investment bank, offering the entire gamut of
investment banking and corporate advisory services. These services encompass
Project Advisory and Loan Syndication, Structured Debt Placement, Capital Markets,
Mergers & Acquisitions, Private Equity and Stressed Assets Resolution. It is the sole
Indian member of M&A International Inc which offers the unparalleled resources of over
600 professionals in 46 M&A advisory and investment banking firms operating in 40
countries.
The company is headquartered in Mumbai with six regional offices across India (New
Delhi, Kolkata, Hyderabad, Chennai, Bangalore and Ahmadabad), two branch offices
(Pune and Guwahati) and five subsidiaries – SBICAP Securities Limited, SBICAP
Trustee Company Limited, SBICAP Ventures Limited, SBICAP (UK) Limited, and
SBICAP (Singapore) Limited. The regional offices are located strategically at major
business hubs in the country and closely liaise with clients at those and nearby centres.
Established in 1994, Housing Development Finance Corporation Ltd (HDFC) Bank is an
Indian financial services company based in Mumbai, Maharashtra. The bank is the first
of its kind to receive an in-principle approval from the Reserve Bank of India (RBI) for
establishment of a bank in the private sector. The Bank transacts both traditional
commercial banking as well as investment banking. The various divisions of the bank
include retail banking, wholesale banking and treasury operations.
HDFC Bank currently has nationwide network of 3,251 Branches and 11,177 ATM's in
2,022 Indian towns and cities and all branches of the bank are linked on an online real-
time basis. The bank commenced operations as a Scheduled Commercial Bank in
January 1995.
COMPANY PROFILE

INTRODUCTION

AXIS Bank is a leading private sector bank and financial services company in India
offering a wide range of products and services to corporate and retail customers
through a variety of delivery channels.

Since commencing operations in April 1994 the Bank has grown both in terms of its
physical network of branches, extension counters and ATMs, as well as in terms of the
size of asset base. The Bank's ATM network of 3,595 ATMs is the third largest in the
country. The Bank has a wide presence through its 835 Branches & Extension Counters
across 515 cities and towns across India.

The Axis Bank Corporate Office in Mumbai (also known as the Axis House), received
the „Platinum‟ rating by the US Green Building Council for its environment friendly
facilities and reduction of carbon emission.

Axis Bank is the third largest private sector bank in India. It offers the entire spectrum of
financial services to customer segments, covering large and mid-corporates, MSME,
agriculture and retail businesses.

As on March 31, 2013, the bank had a large footprint of 1947 domestic branches
(including extension counters) and 11,245 ATMs spread across the country. Axis Bank
also has overseas offices in Singapore, Hong Kong, Shanghai, Colombo, Dubai and
Abu Dhabi.
Axis Bank is one of the first new generation private sector banks to have begun
operations in 1994. The Bank was promoted in 1993, jointly by Specified Undertaking of
Unit Trust of India (SUUTI) (then known as Unit Trust of India), Life Insurance
Corporation of India (LIC), General Insurance Corporation of India (GIC), National
Insurance Company Ltd, The New India Assurance Company Ltd, The Oriental
Insurance Company Ltd and United India Insurance Company Ltd. The shareholding of
Unit Trust of India was subsequently transferred to SUUTI, an entity established in
2003.

Axis Bank Limited (formerly UTI Bank) is the third largest private sector bank in India. It
offers financial services to customer segments covering Large and Mid-Corporates,
MSME, Agriculture and Retail Businesses. Axis Bank has its headquarters inMumbai,
Maharashtra.

The Bank has a large footprint of 2402 domestic branches (including extension counters)
and 12,922 ATMs spread across the country as on 31st March 2014. The overseas
operations of the Bank are spread over its seven international offices with branches at
Singapore, Hong Kong, DIFC (Dubai International Financial Centre), Colombo and
Shanghai and representative offices at Dubai and Abu Dhabi. During the year, the Bank
has upgraded its representative office in Shanghai, China to a branch to become the
first Indian private sector bank to set up a branch in China. During the year, the Bank‟s
overseas subsidiary namely Axis Bank UK Ltd. commenced banking operations.

Axis Bank is one of the first new generation private sector banks to have begun
operations in 1994. The Bank was promoted in 1993, jointly by Specified Undertaking of
Unit Trust of India (SUUTI) (then known as Unit Trust of India),Life Insurance
Corporation of India (LIC), General Insurance Corporation of India (GIC), National
Insurance Company Ltd., The New India Assurance Company Ltd., The Oriental
Insurance Company Ltd. and United India Insurance Company Ltd. The shareholding of
Unit Trust of India was subsequently transferred to SUUTI, an entity established in 2003.
With a balance sheet size of Rs.3,83,245 crores as on 31st March 2014, Axis Bank has
achieved consistent growth and stable asset quality with a 5 year CAGR (2010-14) of
21% in Total Assets, 19% in Total Deposits, 23% in Total Advances and 28% in Net
Profit.
Promoters
Axis Bank Ltd. has been promoted by the largest Financial Institutions of the country,
UTI, LIC, GIC and its subsidiaries. The Bank was set up in 1993 with a capital of Rs.
115 crore, with UTI contributing Rs. 100 crore, LIC - Rs. 7.5 crore and GIC and its four
subsidiaries contributing Rs. 1.5 crore each
Capital Structure
The Bank has authorized share capital of Rs. 850 crores comprising 850,000,000 equity
shares of Rs.10/- each. As on 31st March 2014, the Bank has issued, subscribed and
paid-up equity capital of Rs. 469.84 crores, constituting 469,844,553 equity shares of
Rs. 10/- each. The Bank‟s shares are listed on the National Stock Exchange and the
Bombay Stock Exchange. The GDRs issued by the Bank are listed on the London Stock
Exchange (LSE).

Vision
To be the preferred financial solutions provider excelling in customer delivery through
insight, empowered employees and smart use of technology
AWARDS

Axis Bank has been Ranked as the 'Most Trusted Private Sector Bank' second year
in a row - 'Most Trusted Brand Survey', conducted by Brand Equity, Economic Times

1.Best Investment Manager for Real Estate in India- Euro money Real Estate
Awards 2014
2.Best Domestic Bank in India- Asia money Best Banks 2014
3.Best Bank Award among Large Banks for IT For Business Innovation- IDRBT
Banking Technology Excellence Awards 2014
4.Axis Bank featured for the fourth time in Asia's Fab50 companies for 2014 by
Forbes Asia
5.Best Bank for Rural Reach in the Private Sector category- Dun & Brad street-
Polaris Financial Technology Banking Awards 2014
6.Best Retail Growth Performance in the Private Sector category- Dun &
Bradstreet-Polaris Financial Technology Banking Awards 2014
7.Fastest Growing Large Bank- BW Business world Magna Awards 2014
8.Axis Bank wins „Gold Award for Financial Inclusion‟ amongst the pvt. sector
banks at the Skoch Financial Inclusion & Deepening Award 2014.
9.Axis Bank wins the Best Financial Advisor (Private Bank) at the UTI MF &
CNBC TV 18 Financial Advisor Awards 2013 - 14.
10.Best Bank for Emerging Market Currencies Trading, Spot/Forward-Euromoney
FX Survey 2014
11.Best Bank for Emerging Market Options, Trading Strategies & Ideas-
Euromoney FX Survey 2014
12.Best Bank for Asian Currencies-Euromoney FX Survey 2014
 PART II
PRIMARY STUDY
 LITERETURE REVIEW

Recently, U.S. News & World Report named Clergy as one of the top 30 careers in
2009(Nemko 2008a). Five criteria were considered: job outlook, job satisfaction,
difficulty of required training, prestige, and pay (Nemko 2008a). Many of the “30 Best
Careers” were in helping professions including firefighter, physical therapist, registered
nurse, school psychologist, and veterinarian among others (Nemko 2008b). Marty
Nemko (2008c) noted that “being a cleric isn‟t a job – it‟s a life” and that you must be
able to inspire others through word and deed, especially at critical moments in life. This
may seem to be a tall order and may be one of the reasons many expect clergy to be
“burned out.” Much of the research on job satisfaction in clergy has been on burnout
and emotional exhaustion. Some of that research is summarized below. Several studies
have compared clergy to other professionals and may be especially helpful to this task
force:“Best Careers in 2009” by Marty Nemko, U.S. News & World Report “Spirituality,
Stress and Work” by Rick Csiernick & David W. Adams, Employee Assistance Quarterly
“Emotional exhaustion and mental health problems among employees doing „people
work‟: the impact of job demands, job resources and family-to-work conflict” by Geertje
van Daalen, Tineke M. Willemsen, Karin Sanders, and Marc J. P. M. van Veldhoven,
International Archives of Occupational and Environmental Health“Job Satisfaction in the
United States” by Tom W. Smith, NORC, University of Chicago (This report showed that
clergy ranked the highest on job satisfaction and general happiness. Firefighters and
special education teachers were also ranked in the top twelve on both scales. For this
reason, studies of firefighters and special education teachers will be
referenced.)Literature reviews which may also be especially helpful are:“Clergy work-
related psychological health, stress, and burnout: An introduction to this special issue of
Mental Health, Religion and Culture” by Christopher Alan Lewis, Douglas W. Turton, &
Leslie J. Francis, Mental Health, Religion & Culture“Mental Health Issues Among Clergy
and Other Religious Professionals: A Review of Research” by Andrew J. Weaver, Kevin
J. Flannelly, David B. Larson, Carolyn L. Stapleton, & Harold G. Koenig, The Journal of
Pastoral Care & Counseling It is well known that clergy work beyond the regular 40 hour
work week and do so during unscheduled times at locations other than their
“workplace,” such as visiting the hospital when a parishioner has had a heart attack or
attending ballgames of youth in the church. Weaver, Flanelly, Larson, Stapleton &
Koenig (2002) compiled a helpful research review on mental health issues among
clergy. In it, they note that “on average, United Methodist clergy spend 56.2 hours per
week in ministry, and 12 evenings a month away from home on church duties” and that
25% of surveyed pastors work more than 60 hours per week (citing Gallup & Lindsay
1999).

These long work hours may be indicative of a strong commitment by clergy to their
congregations and community. Personal dedication, investment in one‟s job, and
commitment increase job satisfaction in clergy and religious order workers (Wittberg
1993). Anecdotal accounts can certainly verify this commitment, and it is something
clergy have in common with firefighters (Lee & Olshfski 2002). Uncertainty of job
expectations, volume of work, incompatibility of expectations, and work-family conflict
increase emotional exhaustion, and uncertainty of expectations decreases job
satisfaction (Hang-yue, Foley, & Loi 2005). Influence within the church (Wildhagen,
Mueller & Wang 2005) and authority (Miner, Sterland, & Dowson 2006) also seem to
relate to job satisfaction. This sense of control in the workplace also contributes to job
satisfaction in firefighters (Lourel, Abdellaoui, Chevaleyre, Paltrier & Gana 2008), and
autonomy was related to decreased emotional exhaustion in those doing people work
(Daalen, et al. 2009). Nelsen and Everett (1976) suggest the members‟ willingness to
be taught is related to job satisfaction, and it has been shown that a feeling of frustration
when teaching contributes to low job satisfaction in special education teachers
(Stempien & Loeb 2002). Mental Health, Religion & Culture has a special issue
dedicated to clergy burnout (January 2007.) Lewis, Turton and Francis (2007) introduce
the issue with a summary of its contents, which may be a helpful resource. All studies
included in the issue use the Maslach Burnout Inventory, which seems to be a helpful
tool. Within this issue, Miner (2007a) reports that ministers experience stress in their
first year related to their relationships with family and friends, including marital stress,
and related to ministry expectations, conflicts, and loss of people in the church. Miner
(2007b) also reports that openness to change of beliefs may contribute to burnout. It is
suggested that theological students are encouraged not only to explore their beliefs but
also to integrate them before they enter the ministry. Doolittle (2007) discusses coping
strategies and finds that planning, acceptance and positive reframing relate to increased
personal accomplishment while self-blame, disengagement, distraction and denial relate
to increased emotional exhaustion. A higher spirituality score, however, is also
correlated with higher emotional exhaustion and personal accomplishment, suggesting
that clergy satisfaction is complicated and that emotional exhaustion may not mean
dissatisfaction. Doolittle also finds evidence to support the need for clergy to maintain
healthy boundaries. A study by Randall (2007) suggests that younger clergy experience
more burnout. Family stress certainly contributes to job satisfaction (Hang-yue et al.
2005). Marital discord and more children are related to decreased job satisfaction
(Rogers & May, 2003). Relocation, which is particularly relevant to United Methodist
clergy, may contribute to marital discord, especially when there are children involved.
Wives feel more stress than their clergy husbands when relocating, dealing especially
with their own and their children‟s sense of loss and loneliness when leaving their social
network (Frame & Shehan, 1994).

Clergy generally express excitement about a move while spouses express concern over
the financial burden, changing schools for the children, and loss of friends as well as
lack of support from the clergy spouse. Both clergy and their wives see a need for more
and better family-oriented support services from the denomination
 JOB SATISFACTION

INTRODUCTION

Job satisfaction is not the same as motivation. it is more if an attitude, an internal

state of the person concerned. If could, for example, be associated with a personal
feeling for achievement. Job satisfaction is an individual‟s emotional reaction to the job
itself. It is his attitude towards his job.

DEFINITIONS:

''Job satisfaction does not seem to reduce absence, turnover and perhaps accident
rates".

-By Robert L.Kahn

“Job satisfaction is a general attitude towards one‟s job; the difference between the
amount of reward workers receive and the amount they believe they should receive".

-By P.Robbins

“Job satisfaction defines as" The amount of overall positive affect or feeling that
individuals have toward their jobs."

-By Huge J .Arnold and Daniel C. Feldman

“Job satisfaction is the amount of pleasure or contentment associated with a job. if you
like your job intensely, you will experience high job satisfaction. if you dislike your job
intensely, you will experience job dissatisfaction."

-By Andrew J. DuBrins

HISTORY OF JOB SATISFACTION:

The term job satisfaction was brought to lime light by Hoppock (1935). He
revived 35 studies on job satisfaction conducted prior to 1993 and observes that
job satisfaction is combination of psychological and environmental
circumstances. That causes a person to say. "I'm satisfied with my job". such a
description indicate the variety of variables that influence the satisfaction of the
individual but tell us nothing about the nature of job satisfaction.

Job satisfaction has been mostly defined by Pestonjee (1973) as a job,

management, personal adjustment &social requirement. Morse (1953) considers
job satisfaction as dependent upon job content, identification with the co.,
financial & job status & priding group cohesiveness.

One of biggest preludes to the study of job satisfaction was the Hawthorne
study. Thesestudies (1924-1933), primarily credited to Elton mayo of the
Harvard business school, sought to find the effects of various conditions (most
notably illumination) on workers' productivity.

These studies ultimately showed that novel changes in work conditions

temporarily increase productivity. it was later found that this increase resulted,
not from the new conditions, but from the knowledge of being observed. this
finding provide strong evidence that people work for purposes other than pay,
which paved the way for researchers to investigate other factors in job
satisfaction.

Scientific management (aka taylorism) also had a significant impact on the study
of job satisfaction. Frederick Winslow Taylor's 1911 book, principles of
scientific management, argued that there was a single best way to perform any
given work task. This book contributed to a change in industrial production
philosophies, causing a shift from skilled labor and piece work towards the more
modern approachof assembly lines and hourly wages.
 The initial use of scientific management by industries greatly increased
productivity because workers were forced to work at a faster pace. However,
workers became exhausted and dissatisfied, thus leaving researchers with new
questions to answer regarding job satisfaction.

It should also be noted that the work of W.L.Bryan, Walter dill Scott, and Hugo
Munsterberg set the tone for Taylor's work. Some argue that Maslow's hierarchy
of need theory, a motivation theory,laid the foundation for job satisfaction for job
satisfaction theory. This theory explains that people seek to satisfy five specific
needs in life- physiological needs, satisfy needs, social needs, self - esteem
needs, and self actualization needs. This model served as a good basis from
which early researchers could develop job satisfaction theories.

WAYS OF JOB SATISFACTION

Pay
The Work Itself
Promotion
Supervision
The Work Group

I. PAY

Wages do play a significant role in determining of satisfaction. Pay is

instrumental in fulfilling so many needs. Money facilities the obtaining of food,
shelter,and clothing and provides the means to enjoy valued leisure interest
outside of work. More over,pay can serve as symbol of achievement and a
source of recognition. Employees often see pay as a reflection of organization as
direct wages.
 II. THE WORK ITSELF

Along with pay, the content of the work itself plays a very major role in
determining how satisfied employees are with their jobs. By and large, workers
want jobs that are challenging; they do want to be doing mindless jobs day after
day. The two most important aspect of the work itself that influence job
satisfaction are variety and control over work methods and work place.

III. PROMOTION

Promotional opportunities have a moderate impact on job satisfaction. A

promotion to a higher level in an organization typically involves positive changes I
supervision, job content and pay. Jobs that are at higher level of an organization
usually provide workers with more freedom, more challenging work assignments
and high salary.

IV. SUPERVISION

Two dimensions of supervisor style:

1. Employee centered or consideration supervisors who establish a supportive

personal relationship with subordinates and take a personal interest in them.
2. The other dimension of supervisory style influence participation in decision
making, employee who participates in decision that affect their job, display a
much higher level of satisfaction with supervisor an the overall work situation.
V. THE WORK GROUP

Having friendly and co-operative co-workers is a modest source of job

satisfaction to individual employees. The working groups also serve as a social
support system of individuals has certain expectation from their jobs. if their
expectations are met from the jobs, they feel satisfied. These expectations are
based on an individual's level of education, age and other factors.

LEVEL OF EDUCATION: Levelof education of an individual is a factor which

determines the degree of job satisfaction. for example, several studies have
found negative correlation between the level of education, particularly higher
level of education and job satisfaction, the possible reason for this phenomenon
may be that highly educated persons have very high expectations from their jobs
which remain unsatisfied. in their case, peter's principlewhich suggest that every
individual tries to reach his level of incompetence, applies more quickly.

AGE: Individual experience different degree of job satisfaction at different stages of

their life. Job satisfaction is high at initial stage, gets gradually reduced, starts
rising up to certain stages, and finally dips to a low degree. The possible reasons
for this phenomenon are like this. When individuals join an organization, they
may have some unrealistic assumptions about what they are going to drive from
their work. These assumptions make them more satisfied. However, when these
assumptions fall short of reality, job satisfaction goes down. it starts rising again
as the people start to assess the jobs in right perspective and correct their
assumptions. At the last, particularly at the fag end of the career, job satisfaction
goes down because of fear of retirement and future outcome.
 SITUATIONAL VARIABLES

Situational variables related to job satisfaction lie in organizational context-

formal and informal. Formal organization emerges out of the interaction of
individuals in the organization. Some of the important factors which affect job
important factors which affect job satisfaction are given below:

1. Working conditions: Working conditions particularly physical work environment,

like conditions of work place and associated facilities for performing the job
determine job satisfaction. These work in two ways. First, these provide means
job performance. Second, provision of these conditions affects the individual's
perception about the organization. if these factors are favorable, individuals
experience higher level of job satisfaction.
2. Supervision:The type of supervision affects job satisfaction as in each type of
supervision; the degree of importance attached to individuals varies. In
employee- oriented supervision, there is more concern for people which is
perceived favorably by them and provides them more satisfaction. In job oriented
supervision, there is more emphasis on the performance of the job and people
become secondary, this situation decrease job satisfaction.
3. Equitable rewards:The type of linkage that is provided between job
performance and rewards determines the degree of job satisfaction. if the reward
is perceived to be based on the job performance and equitable, it offers higher
satisfaction. if the reward is perceived to be based on considerations other than
the job performance, it affects job satisfaction adversely.
4. Opportunity:It is true that individuals seek satisfaction in their jobs in the context
of job nature and work environment by they also attach importance to
opportunities for promotion that these job offer. If the present job offers
opportunities of promotion is lacking, it reduces satisfaction.
5. Work group: Individuals work in group either created formally of they develop on
their own to seek emotional satisfaction at the work place. To the extent such
groups are cohesive; the degree of satisfaction is high. If the group is not
cohesive, job satisfaction is low. In a cohesive group, people derive satisfaction
out of their interpersonal interaction and workplace becomes satisfying leading to
job satisfaction.

EFFECT OF JOB SATISFACTION

Job satisfaction has a variety of effects; these effects may be seen in the context
of an individual's physical and mental health, productivity, absenteeism and
turnover.

1. Physical and Mental Health: The degree of job satisfaction affects an

individual's physical and mental health. Since job satisfaction is a type of mental
feeling, its favorableness or unfavorableness affect the individual psychologically
which ultimately affect his physical health.

2. Productivity: There are two views about the relationship between job
satisfaction and productivity:

A happy worker is a productive worker

A happy worker is not necessarily a productive worker.

The first view establishes a direct cause-effect relationship between job

satisfaction and productivity; when job satisfaction increases, productivity
increases; when satisfaction decreases, productivity decreases. The basic logic
behind this is that a happy worker will put more efforts for job performance.
However, this may not be true in all cases.
The Another view: that is a satisfied worker is not necessarily a productive
worker explains the relationship between job satisfaction and productivity.
Various research studies also support this view.

This relationship may be explained in terms of the operation of two factors: effect
of job performance on satisfaction and organizational expectations from
individual to job performance.

3. Absenteeism: Absenteeism refers to the frequency of absence of job holder

from the workplace either unexcused absence due to some avoidable reasons or
long absence due to some unavoidable reasons. It is the former type of absence
which is a matter of concern. This absence is due to lack of satisfaction from the
job which produces a 'lack of will to work' and alienate a worker from work as for
as possible. Thus, job satisfaction is related to absenteeism.

4. Employee Turnover: Turnover of employees is the rate at which employees

leave the organization within a given period of time. When an individual feels
dissatisfaction in the organization, he tries to overcome this through the various
ways of defense mechanism. if he is not to do so, he opts to leave the
organization. Thus, in general case, employee turnover is related to job
satisfaction; however, job satisfaction is not the only cause of employee turnover,
the other cause being better opportunity elsewhere.
 DIMENSIONS OF JOB SATISFACTION

Job satisfaction is a complex concept and difficult to measure objectivity. The

level of job satisfaction is affected by a wide range of variables relating to
individual, social, cultural, organizational factors as stated below:-

DIMENSIONS

INDIVIDUAL SOCIAL ORGANIZATIONAL CULTURAL ENVIRONMENT

1. Individual: -Personality, Education, Intelligence and Abilities, Age, Marital Status,

Orientation to work.
2. Social Factors:-Relationship with co-workers, group working and norms,
opportunities for interaction, informal relations etc.
3. Organizational Factors:-Nature and size, formal structure, personnel policies
and procedures, industrial relation, nature of work, technology and work
organization, supervision and styles of leadership, management systems,
working conditions.
4. Environmental Factors:-Economic, social, technical and governmental
influences.
5. cultural factors:-Attitude, beliefs and values.

These factors affect job satisfaction of certain individuals in a given set of

circumstances but not necessarily in others. Some workers may be satisfied with
certain aspects of their work and dissatisfied with other aspects. Thus, over all
degree of job satisfaction may differ from person to person.
 IMPORTANCE OF JOB SATISFACTION:

Job satisfaction is an important indicator of how employee feels about their job
and a predictor of work behavior such as organizational, citizenship, absenteeism
and turnover.

Job satisfaction can partially mediate the relationship of personality variables and
deviant work behavior.

Common research findings is that job satisfaction is correlated with life style.

This correlation is reciprocal meaning the people who are satisfied with the life
tends to be satisfied with their jobs and the people who are satisfied their jobs
tends to satisfied with their life.

This is vital piece of information that is job satisfaction and job performance is
directly related to one another. Thus it can be said that, "a happy worker is a
productive worker".

It gives clear evidence that dissatisfied employees skip work more often and
more like to resign and satisfied worker likely to work longer with the
organization.

REASONS OF LOW JOB SATISFACTION:

1. Conflict between co-workers

2. Conflict between supervisors
3. Not being opportunity paid for what they do
4. Have little or no say in decision making that affect employees
5. Fear of losing their job.
OBJECTIVES

OF THE

STUDY
 OBJECTIVES

The objective of the study is to find out the satisfaction level of employee in AXIS
BANK

Primary Objective

1. To find out the satisfaction level of employee in AXIS BANK.

Secondary Objective

1. To study company's working environment.

HYPOTHESIS
H0: There is no job satisfaction among employees in AXIS BANK

H1: There is job satisfaction among employees in AXIS BANK.

 RESEARCH
METHODOLOGY
 RESEARCH METHODOLOGY

Research methodology is a way to systemically solve the problem. It may be

understood has a science of studying how research is done scientifically. In it we study
the various steps that all generally adopted by a researcher in studying his research
problem along with the logic behind them.

The scope of research methodology is wider than that of research method.

Meaning of Research

Research is defined as “A scientific & systematic search for pertinent information on a

specific topic". Research is an art of scientific investigation. Research is a systemized
effort to gain new knowledge. It is a careful inquiry especially through search for new
facts in any branch of knowledge. The search for knowledge through objective and
systematic method of finding solution to a problem is a research.

Research Design

A research is arrangement of the conditions for the collections and analysis of the data
in a manner that aims to combine relevance to the research purpose with economy in
procedure. in fact, the research design is the conceptual structure within which
research is conducted; it constitutes the blue print of collection, measurement and
analysis of the data. As search the design includes an outline of what the researcher will
do from waiting the hypothesis and its operational implication to final analysis of data.

In the present study Descriptive Research is used.

Data collection

For any study there must be data for analysis purpose. Within data there is no means of
study. Data collection plays an important role in any study. It can be collected from
various sources. i have collected the data from two sources which are given below:

1. Primary data
 Personal investigation
 Information from correspondents
 Information from superiors of the organizations.

2. Secondary data

Websites like AXIS official site. Some other sites are also searched to find data.
Books & journals

Sample size:

Questionnaire is filled by 50 employees of AXIS BANK

The questionnaire was filed in the office and vital information was collected which was
then subject to:

 A survey was conducted.

 Data collection was also done with the help of personal observation
 After completion of survey the data was analyzed and conclusion was drawn
 At the end all information was compiled to complete the project report.
 ANYLSIS
AND
INTERPRETATION
Q:1 How do you feel about work environment?

Very dissatisfied neutral satisfied Very satisfied

dissatisfied
2% 4% 34% 46% 14%

There are 2% respondent who are very dissatisfied with work environment, 4%
respondent are dissatisfied, 34% respondent are neutral, 46% respondent are
satisfied and 14% respondent are very satisfied with the work environment of
bank.so this is good thing for bank.
Q:2 Are you satisfied with training programs conducted in the bank?

Very dissatisfied neutral satisfied Very

dissatisfied satisfied
8% 14% 24% 44% 10%

There are 8% respondents who are very dissatisfied that their training program is
satisfied. There are 14% respondents who are dissatisfied with training program.
There are 24% respondents who are neutral with training program. There are
44% respondents who are satisfied with training program. There are 10%
respondents who are very satisfied with training program. so, bank provides such
a good training programs to their employees.
Q;3 Are you satisfied with medical facilities of bank?

Very dissatisfied neutral satisfied Very

dissatisfied satisfied
16% 24% 36% 24% 0%

There are 24% respondents who are satisfied with medical facility. There are 0%
respondents who are highly satisfied. There are 16% respondents who are highly
dissatisfied with medical facility. There are 24% respondents who are dissatisfied with
medical facility .There are 36% respondents who are neutral with medical facility .Thus,
bank should improve their medical facilities.
Q;4 Are you satisfied with welfare facilities of bank?

Very dissatisfied neutral satisfied Very

dissatisfied satisfied
4% 8% 28% 26% 40%

There are 26% respondents who are satisfied with welfare facility. There are 40%
respondents who are highly satisfied. There are 4% respondents who are highly
dissatisfied. There are 8% respondents who are dissatisfied. There are 28%
respondents who are neutral. More than 60% respondent are satisfied with welfare
facility so, it shows good for the bank.
Q;5 Are you satisfied with performance appraisal system of bank?

Very dissatisfied neutral satisfied Very

dissatisfied satisfied
6% 12% 22% 26% 34%

There are 26% respondents who are satisfied with the performance appraisal
system. There are 34% respondents who are highly satisfied with the P.A
system. There are 12% respondents who are dissatisfied with the Performance
appraisal system. There are 6% respondents who are highly dissatisfied with the
Performance appraisal system. There are 22%respondents who are neutral with
P.A system.
Q;6 Are you satisfied with your superior’s suggestions given to you?

Strongly disagree neutral agree Strongly

disagree agree
4% 14% 22% 42% 20%

There are 42% respondent agree with superior‟s suggestions. There are 20% strongly
agree. There are 14% disagreeing and 4% respondent strongly disagree. There are
22% respondents who are neutral with superior‟s suggestions given to them. It shows
that more than 50% respondent are satisfied with superior‟s suggestions.
Q;7 Your superior gives clear idea about your job responsibility?

Strongly disagree neutral agree Strongly

disagree agree
0% 16% 24% 20% 40%

There are 67% respondents who are agree with that their superior clearly defines job
responsibility. There are 5% respondents who are disagreeing. There are 26%
respondents who are strongly agree & 2% respondents who are strongly Disagree.
There are 0% respondents who are neutral.it shows that more than 50% respondent are
satisfied with their job responsibility.
Q;8 Is your work allocation clearly communicated to you by your superior?

Strongly disagree neutral agree Strongly

disagree agree
4% 16% 38% 22% 20%

There are 22% respondents who agree with that their superior clearly communicated
about work allotted. There are 20% respondents who are strongly agreeing. There are
16% respondents who are disagreeing and 38% are neutral. More than 50% respondent
are satisfied with work allocation so this is positive point for the bank.
Q:9 Does your work includes challenging tasks?

Strongly disagree neutral agree Strongly

disagree agree
6% 2% 34% 44% 14%

There are 44% respondents who are agreed. There are 2% respondents who are
disagreeing. There are 14% respondents who are strongly agreed. There are 2%
respondents who are strongly disagreeing and 34% are neutral. More than 50%
respondent are think that their work includes challenging tasks.
Q:10 Is the work assigned to you as per your skill and ability?

Strongly disagree neutral agree Strongly

disagree agree
4% 16% 18% 42% 20%

There are 42% respondents who agree with that assignment of the work is as per their
skill & ability. There are 16% respondents who are disagreeing. There are 20%
respondents who are strongly agreed. There are 16% respondents who are strongly
disagreeing and18% are neutral. Most of respondent are agreed that their work
assigned as per their skill and ability it shows positive point for the bank.
Q:11 Does your superior encourage high achievement by reducing the fear of
failure?

Strongly disagree neutral agree Strongly

disagree agree
6% 14% 20% 50% 10%

There are 50% respondents who are agree with that their supervisor encourages high
achievement by reducing fear of failure. There are 14% respondents who are
disagreeing. There are 10% respondents who are strongly agreed. There are 6%
respondents who are strongly disagreeing .There are 20% respondents who are neutral.
Less than 30% respondents are dis agreed with high achievement by reducing the fear
of failure. Its good thing for the bank.
Q;12 Does your superior take good care of problems of employees & tries to
solve them?

Strongly disagree neutral agree Strongly

disagree agree
8% 12% 42% 14% 24%

There are 14% respondents who agree with that the superior takes good care of
employees‟ problems & try to solve it. There are 24% respondents who strongly agreed.
There are 12% respondents who disagree and 8% strongly disagree. There are 42%
respondents who are neutral. It shows that respondents are satisfied with their
superior takes good care of problems and tries to solve them.
Q :13 Which factor attracts you to be loyal?

High salary Work Job security After retirement all

environment benefits
28% 24% 48% 12% 8%

There are 24% respondents who are loyal to their co. because of better work
environment. There are 28% respondents who are loyal to their co. because of salary
structure. There are 48% respondents who are loyal because of job security. There are
12% respondents who are loyal because of retirement benefit. There are 8%
respondents who are loyal because of all of above particulars. Most of respondents
want job security so bank should provide better job securities to their employees.
Q: 14 Age

18-25 26-35 36-45 46-55 55 above

20% 30% 30% 20% 0%

20% of Respondents are under 18-25 years. 30% of Respondents are under 26-35
years. 30% of Respondents are under 36-45 years. 20% of respondent are under 46-55.
0% of respondent are above 55.so, more than 50% respondents having below 45 age.
Q:15 Gender

male female

70% 30%

There are 70% male and there are 30% female in our research.
Q:16 Experience

Less than 5 6 to 10 11 to 15 16 to 20 More than

21
40% 30% 20% 10% 0%

40% respondent having less than 5years experience.30% respondents having 6 to 10

year‟s experience.20% respondents having 11 to 15 year‟s experience.10% respondent
having 16 to 20 year‟s experience.0% respondent have more than 21 year‟s experience.
FINDINDS
From the study, The Researcher has come to know that most of the respondents have
job satisfaction; The management has taken the best efforts to maintain cordial
relationship with the employees. Due to the working conditions prevailing in this
company, Job satisfaction of each respondent seems to be the maximum. From the
study, I have come to know that most of the employees were satisfied with the welfare
measures provided by AXIS BANK. The employees of AXIS BANK get more benefits
compare to other companies.

 There are 46% of employees who are satisfied with their work environment
and 4% respondents are dissatisfied with work environment.

 There are 44% employees who are satisfied & 14% employees are
dissatisfied with the training program conducted in AXIS BANK.

 There are 24% employees who are satisfied & 24% employees are
dissatisfied with the medical facilities.

 There are 26% employees who are satisfied & 8% dissatisfied with the
welfare facilities

 There are 26% employees who are satisfied & 12% dissatisfied with the
performance appraisal system

 42% respondents agreed & 14% disagreed with the degree of supervision,
supervisor‟s knowledge and suggestions given to them.

 20% respondents agreed & 16% disagreed with the job responsibility.

 22% respondents agreed & 16% disagreed that the work allocation is clearly
communicated to their superior.

 44% respondents agreed & 2% disagreed that their works includes

challenging tasks.
 42% respondents agreed & 16% disagreed that their work is assigned to
them as per their skills and ability.

 50% respondents agreed & 14% disagreed that their supervisor encourages
high achievement by reducing the fear of failure.

 14% respondents agreed &12% disagreed that their supervisor takes good
care of problems of employees & tries to solve them.

 28% respondents are attracted to be loyal by high salary, 24% respondents

are attracted by better work environment, 48% respondents are attracted by
Job security and 8% respondents are attracted by all factors to be loyal.
CONCLUSION
&
SUGGESTION
 .

 Company has to organize certain sports activities quarterly.

 I would also suggest that company has to organize family get together half yearly. So
that employees also think that they are part of the organization and get motivated to
do their work.

 Showing the performance graph monthly and periodic job review can also help the
employee to improve his or her job and it will help in coping with stress.

 Providing financial rewards or incentives can also be one of the ways.

 All the employees should shoulder equal responsibility. Superior or the team leader
should share the load. The team leader should himself get involve in task and make
members always feel like whatever is the task is a team work. Proper training should
be given to work related areas.

 I would like to say that stress mitigation sessions should be conducted so that those
employees who are under stress can be able to cope up with it and can be able to
work more effectively and efficiently to attain organizational goals.

 I would like to suggest that for coping with stress company has to conduct certain
recreational activities. It will help the employees to overcome the stress. .

 Most of the employees agree that their superior clearly defines their job
responsibility.

 Overall AXIS BANK is one of the best places to work or doing job. It is good
rating company as per my research.
LIMITATION
OF
STUDY
 The relevant information is gathered from the employees of particular
organization. So it‟s subject to bias and the response of relevant respondents.

 The study is covered only single particular organization's employees so it should

not undertake as a universe study.

 I have taken only 50 of employees from AXIS BANK.

 It is very difficult to fill the questionnaire between their busy schedules.

 Data collected is based on questionnaire.

 The result would be varying according to the individuals as well as time.

 Some respondents hesitated to give the actual situation; they feared that
management would take any action against them.

 The findings and collections are based on knowledge and experience of the
respondents sometime may subject to bias.

 The time constraints was the main limitation of the study.

CONCLUSION
OF
HYPOTHESIS
As per the study or as per the research I found that,

There are average 55% respondents are satisfied with all facilities, work environment
which is provided by axis bank to them .

So, I can conclude that;

H0 Hypothesis is rejected.

H1 Hypothesis is not rejected.

So, it means there is a job satisfaction among the employees of AXIS BANK.
 ANNEXTURE

Questionnaire on
"A Study of Job-Satisfaction Level in Axis Bank"
Dear Sir/Mam,
We are student of C. K. SHAH INSTITUTE OF MANAGEMENT & we will be
undertaking a survey on" A STUDY OF JOB-SATISFACTION LEVEL IN AXIS BANK.”I
request you to please take some time to fill the questionnaire. we assure you that your
response shall be kept confidential and shall be used for academic purpose only.

Thanks & Regards,

Priyal Patel ( MBA-SEM IV)
Kiran daswani ( MBA-SEM IV)

KINDLY FILL ALL THE QUESTIONS PLEASE

1. Rate the following questions from 1 to 5 where;

(1= Very Dissatisfied, 2= Dissatisfied, 3= neutral, 4= Satisfied, 5= Very Satisfied)

QUESTIONS 1 2 3 4 5

1. How do you feel about work environment?

2. Are you satisfied with training programs conducted in
the bank?
3. Are you satisfied with medical facilities of bank?

4. Are you satisfied with welfare facilities of bank?

5. Are you satisfied with performance appraisal system

of bank?
6. Are you satisfied with your superior‟s suggestions
given to you?
 2. from 7 to 12please rate in a scale from 1 to 5 where;
(1=strongly disagree, 2= disagree, 3= neutral, 4= agree, 5= strongly agree)

QUESTIONS 1 2 3 4 5
7. Your superior gives clear idea about your job
responsibility.
8. Is your work allocation clearly communicated to you by
your superior?
9. Does your work includes challenging tasks?

10. Is the work assigned to you as per your skill and ability?

11. Does your superior encourage high achievement by

reducing the fear of failure?
12. does your superior take good care of problems of
employees & tries to solve them?

13. Which factor attracts you to be loyal?

High Salary After retirement benefits
Better Work Environment All of above
Job Security others

DEMOGRAPHIC DETAILS:

Age: 18-25 26-35 36-45 46-55 55 & above

Gender: male female

Your work experience in axis bank:

Less than 5yrs 6-10 11-15 16-20 more than 21