MAJOR PROJECT REPORT ON

MARKET EVALUATION OF FINANCIAL PRODUCTS OF STANDARD CHARTERED BANK

Maharaja Surajmal Institute

(AFFLIATED TO GURU GOBIND SINGH INDRAPRASTHA NIVERSITY)

C-4c Janakpuri, New Delhi, 110058

PREPARED BY
Vandana Negi ENROLLMENT NO-04221201809

SUBMITTED TO
PROF. (Dr.) Sunena
Department of Business Administration

CERTIFICATE

This is to certify that VANDANA NEGI has completed her Project Report, as a part of partial fulfillment of B.B.A (B&I) Programme from Maharaja Surajmal Institute, affiliated to Guru Gobind Singh Indraprastha University, under my guidance and supervision. She was in constant touch with me and the matter embodied in this is original and authentic and same recommended for evaluation.

I wish her all the best in her entire future endeavor.

Professor (Dr.) Sunaina Department of Business Administration Maharaja Surajmal Institute

ACKNOWLEDGEMENT
Project Work is never the accomplishment of an individual rather it is an amalgamation of the efforts, idea and cooperation of a number of entities. I acknowledge with gratitude and appreciation, my indebtedness to my mentor & guide Prof. (Dr). Sunaina for allowing me to work on a very intrinsic project namely-

MARKET EVALUATION OF FINANCIAL PRODUCTS OF STANDARD CHARTERED BANK. I also thank her for the ideas and basic concepts she
delivered and shared with me, as she helped me a lot in accomplishing this project of mine. .

VANDANA NEGI BBA (B&I) VIth semester 04221201809

TABLE OF CONTENTS

Chapter
Chapter 1

Particulars Introduction Objectives Research Methodology Limitations Company Profile Analysis And Interpretation Conclusions And Recommendations BIBLIOGRAPHY QUESTIONNAIRE

Page Nos.

Chapter 2 Chapter 3 Chapter 4

CHAPTER-1

IN TRODUCTION

Introduction
Banking, transactions carried on by any individual or firm engaged in providing financial services to consumers, businesses, or government enterprises. In the broadest sense, banking consists of safeguarding and transfer of funds, lending or facilitating loans, guaranteeing creditworthiness, and exchange of money. Such institutions as commercial banks, savings banks, trust companies, finance companies provide these services, and merchant banks or other institutions engaged in investment banking. A narrower and more common definition of banking is the

acceptance, transfer, and, most important, creation of deposits. This includes such depository institutions as commercial banks, savings and loan associations, building societies, and mutual savings banks. All countries subject banking to government regulation and supervision, normally implemented by central banking authorities. For further information on central banks and investment banking, see the relevant articles. The money a bank receives as deposits from both individuals and large companies becomes a banks liability. The bank receives assets in the form of the interest it charges on loans made to governments, businesses, and private individuals. The chart above depicts how this process works. Interest given on savings accounts, a percentage return on the banks investments with the money, gives an additional incentive to save. Transfer of funds can be handled through negotiable instruments, cheques, or direct transfers performed electronically. Credit cards and account debit cards, electronic cash tills, computer online banking, and other services provided by banks extend their usefulness by offering customers additional ways of gaining access to and using their funds. Automated clearing houses perform similar services for business customers by handling regular payments, such as wages, for a company banking with the bank. Longerterm schemes for providing regular income on savings are often offered through trust funds or other investment schemes. Loans to bank customers are drawn on the funds deposited with the bank and yield interest, which provides the profits for the banking industry, and the interest on savings accounts. Banks also provide foreign exchange facilities for individual customers, as well as handling large international money transfers. Investment banks engage chiefly in financing businesses and trading in securities.

A BRIEF HISTORY OF STANDARD CHARTERED BANK

The Standard Chartered Group was formed in 1969 through a merger of two banks: The Standard Bank of British South Africa founded in 1863 and the Chartered Bank of India, Australia and China, founded in 1853. Both companies were keen to capitalise on the huge expansion of trade and to earn the handsome profits to be made from financing the movement of goods from Europe to the East and to Africa.

The Chartered Bank

Founded by James Wilson following the grant of a Royal Charter by Queen Victoria in 1853. Chartered opened its first branches in Mumbai (Bombay), Calcutta and Shanghai in 1858, followed by Hong Kong and Singapore in 1859. Traditional business was in cotton from Mumbai (Bombay), indigo and tea from Calcutta, rice in Burma, sugar from Java, tobacco from Sumatra, hemp in Manila and silk from Yokohama. Played a major role in the development of trade with the East which followed the opening of the Suez Canal in 1869 and the extension of the telegraph to China in 1871. In 1957 Chartered Bank bought the Eastern Bank together with the Ionian Bank's Cyprus Branches. This established a presence in the Gulf. The Standard Bank

Founded in the Cape Province of South Africa in 1862 by John Paterson. Commenced business in Port Elizabeth, South Africa, in January 1863. Was prominent in financing the development of the diamond fields of Kimberley from 1867 and later extended its network further north to the new town of Johannesburg when gold was discovered there in 1885. Expanded in Southern, Central and Eastern Africa and by 1953 had 600 offices. In 1965, it merged with the Bank of West Africa expanding its operations into Cameroon, Gambia, Ghana, Nigeria and Sierra Leone.

In 1969, the decision was made by Chartered and by Standard to undergo a friendly merger. All was going well until 1986, when a hostile takeover bid was made for the Group by Lloyds Bank of the United Kingdom. When the bid was defeated, Standard Chartered entered a period of change. Provisions had to be made against third world debt exposure and loans to corporations and entrepreneurs who could not meet their commitments. Standard Chartered began a series of divestments notably in the United States and South Africa, and also entered into a number of asset sales.

From the early 1990s, Standard Chartered has focused on developing its strong franchises in Asia, the Middle East and Africa using its operations in the United Kingdom and North America to provide customers with a bridge between these markets. Secondly, it would focus on consumer, corporate and institutional banking and on the provision of treasury services - areas in which the Group had particular strength and expertise. In the new millennium we acquired Grindlays Bank from the ANZ Group and the Chase Consumer Banking operations in Hong Kong in 2000. Since 2005, we have achieve several milestones with a number of strategic alliances and acquisitions that will extend our customer or geographic reach and broaden our product range.

OBJECTIVES
Various Objectives for conducting the research and analysis are listed as under:
1. Access the Market Potential of Standard Chartered Bank Saving Account with the help of a survey conducted on a total of 155 Respondents (50Standard Chartered Bank customers , 105-Other Banks customers). 2. Study how new distribution channels such as Internet Banking, ATM facility, Phone Banking have changed the face of the Banking industry.

3. Study the impact of a customer centric approach being followed by the Bank, and what is its benefit. 4. Compare the services offered by Standard Chartered Bank and the customers satisfaction level of the same with that of other Banks in the Private and Government sector, and to access where the Bank has to improve. 5. Consideration of various promotional and marketing and advertising strategies of Standard Chartered to the satisfaction among its ultimate users and consumers. 6. Finally to draw the various conclusion and recommendations on the basis of the study conducted on specifically taking to consideration the services, advertising and marketing strategies of the Bank.

Research Methodology
1) Initially raw data collection enables us to see the prevailing situation and take an action of improvement accordingly. Thus collection of raw data is indispensable to gather any kind of information for further analysis and accordingly taking a decision. Raw data Information

2) As per the requirements the questionnaire was prepared and a market survey was done. Process 1. Gaining knowledge about the product: Reading about the product was the first step undertaken. This gave not only in depth knowledge about what is been offered by the bank but also proved useful while developing the questionnaire. Steps in the Development of the Survey Instruments The main instruments required for survey was a well-developed questionnaire. The questionnaire development took place in a series of steps as described below: Research objectives are being transformed into information objectives. The Appropriate data collection methods have been determined

Step 1

Step 2

Step 3

The information required by each objective is being determined. Specific Questions/Scale Measurement format is developed.

Step 4

Step 5

Question/Scale Measurements is being evaluated.

Step 6

The number of information needed is being determined.

Step 7

The questionnaire and layout is being evaluated.

The Questionnaire format is being finalized.

Step 8

2. Customer Survey: The people play an important part as a clear perception of people about the product can be estimated and known. Studying the need levels of the people regarding the banking product can be observed. It was very useful in knowing about the requirements of the people.

3. Referred to brochures and websites of competitors: To understand the competitors product brochures and websites of various banks were referred and a competitive analogy of all the rates and necessary features of the Savings account is been made. The table is been attached in the Appendix.

CHAPTER-2 COMPANY PROFILE

BUSINESS PROFILE Listed on both the London Stock Exchange and the Hong Kong Stock Exchange, Standard Chartered PLC is consistently ranked in the top 25 FTSE 100 companies by market capitalisation. By combining our global capabilities with deep local knowledge, we develop innovative products and services to meet the diverse and everchanging needs of individual, corporate and institutional customers in some of the world's most exciting and dynamic markets. Personal Banking Through our global network of over 1,700 branches and outlets, we offer personal financial solutions to meet the needs of more than 14 million customers across Asia, Africa and the Middle East.

SME Banking Our SME Banking division offers a wide range of products and services to help small and medium-sized enterprises manage the demands of a growing business. Wholesale Banking Headquartered in Singapore and London, with on-the-ground expertise that spans our global network, our Wholesale Banking division provides corporate and institutional clients with innovative solutions in trade finance, cash management, securities services, foreign exchange and risk management, capital raising, and corporate finance. Islamic Banking Standard Chartered Saadiq's dedicated Islamic Banking team provides comprehensive international banking services and a wide range of Shariah compliant financial products that are based on Islamic values. Private Banking Our Private Bank advisors and investment specialists provide customised solutions to meet the unique needs and aspirations of high net worth clients.

What we stand for

Strategic intent

The world's best international bank Leading the way in Asia, Africa and the Middle East

Brand promise

Leading by Example to be The Right Partner

Values

Responsive Trustworthy

International Creative Courageous

Approach

Participation Focusing on attractive, growing markets where we can leverage our relationships and expertise

Competitive positioning Combining global capability, deep local knowledge and creativity to outperform our competitors

Management Discipline Continuously improving the way we work, balancing the pursuit of growth with firm control of costs and risks

Commitment to stakeholders

Customers Passionate about our customers' success, delighting them with the quality of our service.

Our People Helping our people to grow, enabling individuals to make a difference and teams to win

Communities Trusted and caring, dedicated to making a difference

Investors

A distinctive investment delivering outstanding performance and superior returns

Regulators Exemplary governance and ethics wherever we are.

Standard Charted Bank a Constitution of :

1. People : Standard Chartered employs 73,000 people in more

than 70 countries and territories worldwide. Our culture is centred on diversity and inclusion - key strengths that fuel our success. 2. Our board of directors : Our leaders reflect the diversity that drives Standard Chartered's success and makes us one of the world's most international banks. 3. Our global team : As we grow and evolve, our commitment remains the same - to get the best out of the broadest spectrum of people, making sure that every individual feels valued for the strengths they bring to Standard Chartered.As a global team, we represent more than 115 nationalities - our 500 most senior employees come from over 61 different countries.Our primary focus is on three strands of diversity - gender, nationality and disability, with a particular emphasis on visual impairment. Overall, our male to female employee ratio is roughly 50:50. 16% of our senior managers are women and our aim is to balance this figure over the next few years. 4. Principles & Values : At Standard Chartered our success is built on teamwork, partnership and the diversity of our people.At the heart of our values lie diversity and inclusion. They are a fundamental part of our culture, and constitute a long-term priority in our aim to become the world's best international bank.Today we employ 73,000 people, representing 115 nationalities, and you'll find 61 nationalities among our 500 most senior leaders. We believe this diversity helps to fuel creativity and innovation, supporting the development of exciting new products and services for our customers worldwide.

Financial Products offered by Standard Chartered

CURRENT ACCOUNTS : An account opened and operated primarily by corporate for Commercial use, wherein the number of transactions are much Higher than a normal savings account. No interest is paid on these accounts. ELIGIBILITY Resident Indians Sole proprietorship concerns Partnership Firms Associations/ societies Public and Pvt. Ltd. companies HUF Foreign nationals/ liaison offices (QA 22)

BALANCE REQUIREMENTS Minimum average quarterly balance of Rs. 50000/-. Failure to maintain minimum average balance attracts a ledger fees of Rs. 300 per quarter. PRODUCT FEATURES

High liquidity Unlimited transactions Zero interest Any branch banking

Different Current Accounts: Business Plus Current Account

FREE National Electronic Funds Transfer FREE Demand Drafts & Pay Orders at our branch locations. Demand Drafts on over 470 correspondent bank locations at just 0.15% of draft value. FREE Payable at par chequebooks FREE Outstation cheque clearing on our branch locations FREE NetBanking FREE Phone banking FREE Anywhere Banking Doorstep Banking International Debit card including Gold Debit card RTGS facilities

The Standard Chartered Banks Business Plus current account is a powerful banking tool that gives your organization a host of benefits enumerated below:

FREE Demand Drafts on our branch locations: As a Business Plus customer, you can now avail of drafts & pay orders payable at any of our branches up to 75 a quarter. FREE Payable at par cheques: You can issue cheques payable at par at any of our branch locations, FREE of cost. FREE National Electronic Fund Transfers: Now, transfer funds seamlessly to accounts in over 67 banks and 28000 branches across India. The funds can be transferred within 24 hours*. FREE Anywhere Banking facility: You can conduct your banking transactions from any of our branches spread across the country, irrespective of the branch where your account was opened. Get your funds faster without any additional cost: Cheques drawn on any bank at our branch locations are cleared in just 7 days*, Moreover, this service is available to you FREE of charge.

Drafts on correspondent bank locations: You now have an opportunity to avail of drafts on over 470 locations, at most just 0.15% of the draft value. Quick transfer: You can transfer funds between your accounts with our bank almost instantaneously and FREE! Doorstep Banking: You can request for cash pick-up and delivery, cheque pick-up, draft/PO delivery, to/from your home or office. Just call / fax us your request. FREE Internet Banking: Access your account any time of the day from anywhere in the world through our Secured Internet Banking facility. And do routine banking transactions online. FREE Phone banking: Access your account from the comfort of your home / office. You can get account information, request for drafts, give stop cheque instructions, transfer funds and do much more with just one phone call. Anytime of the day. Debit Card with aXcessPlus benefits: You can now get access (upto 4 free transactions per month) to your money through over 20000 VISA ATMs spread across the country. You'll also get all the special privileges and offers, made available to our Debit Card customers. Real Time Gross Settlement facility offered: You will be able to instantaneously transfer your funds to accounts in other banks using this facility.

You will need to maintain a minimum average quarterly balance of Rs. 1,00,000 to avail of the facilities of the Enhanced Business Plus 100 Current Account. Enhanced Business Plus Current Account (EBP 1000)

FREE National Electronic Funds Transfer FREE Demand Drafts & Pay Orders at our branch locations FREE Drafts on correspondent bank locations upto Rs. 75 lakhs per month FREE Payable at par chequebooks FREE Outstation cheque clearing on our branch locations FREE Net Banking FREE Phone banking

FREE Anywhere Banking FREE Doorstep Banking RTGS facilities International Debit card including Gold Debit card Priority Banking program* No commissions on Travelers Cheques

You will need to maintain a minimum average quarterly balance of Rs. 10, 00,000 to avail of the facilities of the Enhanced Business Plus 1000 Current Account. The Standard Chartered Banks Enhanced Business Plus 1000 Current Account is a powerful banking tool that gives your organization a host of benefits enumerated below:

FREE Demand Drafts on our branch locations: As an Enhanced Business Plus customer, you can now avail of drafts & pay orders payable at any of our Standard Chartered Bank branches. FREE Drafts on correspondent bank locations: You now have an opportunity to avail of free drafts drawn on over 470 locations, up to a limit of Rs. 75 lakhs per month. FREE Payable at par cheques: You can issue cheques payable at par at any of our branch locations, free of cost. FREE National Electronic Fund Transfers: Now, transfer funds seamlessly to accounts in over 67 banks and 28000 branches across India. The funds can be transferred within 24 hours*. FREE Doorstep Banking: You can request for cash pick-up and delivery, cheque pick-up, Draft/PO delivery, to/from your home or office. Just call / fax us your request. FREE Anywhere Banking facility: You can conduct your banking transactions from any of our branches spread across the country, irrespective of the branch where your account was opened. Get your funds faster without any additional cost: Cheques drawn on any bank at our branch locations are cleared in just 7 days*, Moreover, this service is available to you FREE of charge. Quick transfer: You can transfer funds between your accounts with our bank almost instantaneously and free!

FREE Net Banking: Access your account any time of the day from anywhere in the world through our Secured Internet Banking facility. And do routine banking transactions online. FREE Phone banking: Access your account from the comfort of your home / office. You can get account information, request for drafts, give stop cheque instructions, transfer funds and do much more with just one phone call. Anytime of the day. Debit Card with aXcessPlus benefits: You can now get access (upto 4 free transactions per month) to your money through over 20000 VISA ATMs spread across the country. You'll also get all the special privileges and offers, made available to our Debit Card customers. Real Time Gross Settlement facility offered: You will be able to instantaneously transfer your funds using this facility. Priority Banking: You have the opportunity of availing of the benefits and privileges of the Priority Banking program. Membership to the Priority banking program is by invitation only.

SAVING ACCOUNT: An account primarily opened for & operated by individuals , wherein the number of transactions are few and which give the customer liquidity , with the facility to earn some interest on the residual balances. Purpose and Description : The savings accounts is a transaction account wherein a deposit is placed with the bank for an unspecified period of time. 2. The depositor can withdraw the money whenever required through any of the following means: Withdrawal slip, cheques, transfer, through an ATM or Debit Card, standing instructions, remittances or by making purchases made on a linked Debit Card at merchant establishments. 1.

Interest Paid :

Interest on the is determined in accordance with directives of the Reserve Bank of India. The current rate is 4% . Interest is calculated on the minimum credit balance between the close of the business on the 10 th. & the last day of each calendar month. Interest is paid on quarterly rests.

Eligibility :

Individuals Trusts / Societies / Charitable Organisation HUFs ( for individuals for the sole purpose of for the purpose of business ) Resident Indians & Foreign Nationals. Product Features :

savings & not

Account can be in Sole name or joint names. Average Quarterly Balance Average quarterly balance of Rs.10,000 to be maintained. Non - maintenance of AQB attracts a ledger fees of Rs.750/- per quarter. Transaction oriented account : Mode of transaction is through Cheque books, ATM Card or Debit Card. Account can be operated at any of our branches across the country , 365 days a year from 10 A.M -7 P.M.

Saving Account Product Offering :

aXcess Plus Saving Accounts Super Value Savings Accounts in one aXcess Plus Account Corporate Executive Account

aXcess Plus Saving Account

The power of accessing your account . Anywhere , Anytime. A power packed savings account , which is an innovative & convenient solution for all banking needs of the customer . It comes with a globally valid ATM cum debit card , which allows one to access money from any banks ATMs , that has a VISA ELECTRON sign. Thus, in addition to Standard Chartered bank ATMs the customer has a power of accessing his account from the ATMs of other banks as well . In addition , the Debit Card can even be used to make purchases anywhere in India & abroad from outlets that display the VISA ELECTRON sign , which includes over 25,000 outlets in India & over 10 million outlets worldwide . It is even accompanied by special offers & discounts that help the customer get more from his money. ATM-cum-Debit Card

Product: Deposits access card which provides ATM access and purchase functionality at merchant outlets. The caption is Buynow-pay-now product. Positioning: Packaged into aXcess Plus savings account to provide unparalleled account access. Charges Associated: Annual charge of Rs 100 Over and above four free transactions from a competitor bank ATM, a charge of Rs 50/transaction would be levied. In case of non-maintenance of average quarterly balance in the account, every transaction from a different bank ATM would attract charges of Rs 50/ transaction. Key Features: Visa Electron Card. Key Competition: HDFC Bank, ICICI Bank, Citibank and HSBC.

Features:
Deposit access card : Provides access to the account through ATMs and through purchase at merchant outlets. Amount withdrawn or the purchase amount is directly debited to the account.

Visa Electron franchise. Globally valid card. Accepted at over 25000 merchant outlets in India and at over 10 million outlets worldwide. Accepted at over 2400 ATMs in India and at over 6,50,000 ATMs worldwide. Works as a fully functional ATM card at the banks own ATMs. Comes with a lost card insurance of Rs 50,000 The goods purchased through the Debit card are automatically protected against theft or fire upto the limit of Rs 15,000. Super Value Savings Account A savings account where the Average Quarterly Balance to be maintained is Rs 50,000 and a whole lot of value added services are offered free of cost which otherwise would be charged in case of a normal aXcess plus savings account. Product: Upgrade savings account. Positioning : a savings account that gives you more value for your money. Average quarterly balance : Rs 50,000 Key Features : Free debit card, basket of free services and discounts. Target Customers : customers who wish to upgrade from a basic savings account and enjoy convenience banking. Key Competition : Citibank and ABN-AMRO

KEY FEATURES

Free Debit Card. Free Demand Drafts/ Pay Orders Free ATM- cum-Debit Card Free cash delivery Free Draft delivery Free Payable at par cheques

Free FIRCs Free investment advisory services Free standing instructions Free remittances All other features and benefits of the aXcess Plus saving account Free accidental policy of Rs.2.5 Lakhs

Documentation requirements for opening a Savings Account with the bank

The following documents are required to open an account: 1. Duly completed account opening form 2. A Signature card for each of the applicants. 3. A photograph of each of the applicants with a signature on the reverse. 4. Duly filled in nomination form DA1 (wherever applicable). 5. Debit Card Photo/Picture Card application, if applicable(with photograph of the applicant) 6. An introduction is always required for the applicant/s. 7. Documents for Room Service- Sign up form, Indemnity form, Resolution to open the account and transact through Room Service.

Any combination of the following documents confirming the Name , Signature and Address on the application form is valid: Document Identity Passport Driving License PAN Card Ration Card(applicant No is not he mukhiya) Govt or Defence ID Signature No Address No

Card(may vary from card to card) Our People Helping our people Communities to grow, enabling individuals to make a difference and teams to win Investors A distinctive investment delivering outstanding performance and superior returns Trusted and caring, dedicated to making a difference Regulator

Exemplary governance and ethics wherever we are Self cheque(min amount Rs 1000) Bankers Verification No of Signature

No No

No

No

Investment Services offered By Standard Charted

Standard Charted Bank, using over 150 yrs of expertise, promises you to guide you through the world of exciting new investment opportunities in India and overseas.

From shortest term deployment of funds to planning your retirement, w pledge to got the extra mile to ensure that you reach your chosen financial goals. Standard Charted plus Bajaj Alliance. Dealing in 4-5 products. Product with insurance cover. Investment products (saving a/cs plus insurance). Investment plans plus Insurance Covers. Young Care Plan : 1. 100% credit. 2. 1st year 60% charges and 40% investment. 3. 50 thousand investment per year. 4. Insurance cover of 5 lakhs. 5. Time period 10yrs ( 3 yrs compulsory). 6. Customer is going to pay upto 3 yrs if died. 7. If alien, 10 yrs premium of 50 k. 8. Covers inflation rate every year. 9. Premium * max = paying capacity. , *min = 20 k. 10.Mode of payment annually. New Unit Gain Plus : Flexible Investments were never so easy. 1. 2. 3. 4. 5. 6. 7. 8. 9. Guaranteed Life Cover Partial and full withdrawals after 3 years. 3 years mandatory. 3 terms 15, 20, 25. Age of maturity. *max = 65, * min = 40. Return Allocation = 45% 100% - 200% credit. Current return 30- 40% Not less than 18-20% return.

Century Plus Plan :

1. 2. 3. 4. 5.

Take 10 yrs compulsory. Allocation 98%. 25% credit. Very simple plan. Minimum 50 k premium.

Future Secure Plan : 1. 2. 3. 4. 5. Minimum term 5 yrs. Age Limit. * min = 18, *max = 65. Pension to wife after death of husband. 10 lakh growth. 1/3 total cash given , rest amount in pension.

New Secure First : An investment plan which offers double advantage with flexibility. 1. This flexible unit linked life insurance plan provides you protection and participation in market-linked returns. 2. Double benefit of sum assured + fund value in case of demise. 3. Choice of 5 investment options, 3 free switches and premium redirection option. Bajaj Allianz Care First : A medical insurance plan that allows you to renew till the age of 65 yrs. Premium guaranteed for the length of each policy term of 3 yrs.
1. Generous hospital cover upto 7 lakhs.

2. Cashless Treatment available across over 2000 leading hospitals in over 200 towns across India. 3. Specific day care treatments requiring less than 24 hrs.

Multiple Delivery Channels

Automatic Teller Machine (ATM) :

An ATM is generally a machine that can deliver cash to the customers to the demand after authentication. However, nowadays we have ATMs that are used to vend different FMCG products also. An ATM does the basic function of a banks branch , i.e. , delivering money on demand. Hence setting of newer branches is not required thereby significantly lowering infrastructure costs. These keys also hold the keys to future operational efficiency. Net Banking : Net banking means carrying out banking transactions via the internet. Thus the need for a branch is completely eliminated by the technology. Also this helps in serving the customer better and tailoring products better suited for the customer. A customer can view his accounting details, transaction history, order drafts, electronically make payments, transfer funds and electronically communicate with the bank through the Internet for which he may have wanted to visit the bank branch. Net banking helps a bank spread its reach to the entire world at afraction of the cost. Phone Banking : This means carrying out of the banking transactions through telephone. A customer can call up the banks helpline or phone banking number to conduct transactions like transfer of funds, making payments, checking of account balance, ordering cheques, etc. This also eliminates customer of the need to visit the bank branch. Mobile Banking : Banks can now help a customer conduct certain transactions through the mobile phones with the help of technologies like WAP, SMS, etc. This helps the banks to combine the Internet and the telephone and leverage it to cut costs and at the same time provide its customer the convenience. The Importance of Choosing a Correct Distribution Channel The promise of lower transaction costs, increased sales productivity, and more convenient service has lured banks into setting

up new delivery channels. Earlier, vast brick and mortar branch network has been considered as an inherent advantage of established banks and new entrants were at huge disadvantage vis--vis the established players in terms of customer reach. The foundation for creating such delivery channels is superior insights into customer behavior. These can come in many forms, but at their most basic they entail understanding customer needs for the delivery of different products, how these needs vary by customer types ( including small businesses), current customer behaviour, and customer profitability. The steps to be followed in making a new distribution channel successful : Understand customers current channel/transaction behaviour. Use sophisticated experimental customer research to assess the economic impact of tactics designed to change that behavior. Design non-branch channels to emphasize personalized interaction to counteract decreased loyalty due to using artificial intelligence.

Strategic Alliances entered by Standard Charted Bank:

National ATM Alliance The Institute for Development and Research in Banking Technology (IDRBT), a group established by the RBI in 1996 has planned to set up a national switch to hook up all of the countrys 10000 odd ATMs. The idea of established ATM interconnectivity through a national switch has been approved by the information chiefs of various banks.

Cashnet Its an alliance between Citibank, IDBI, SCB and UTI bank. This is the countrys first independent shared ATM network.

Cashnet will give access to more than 1300 ATMs for more than 6 million debit and credit cardholders of the member banks. Standard Charted Bank and Bharat Petroleum Corporation of India They have entered into an alliance to launch a globally valid cobranded debit card, smart fill in association with Visa international. Smartfills functions as a debit -cum- ATM card, providing customers online access to their accounts while they shop or withdraw cash. Standard Charted Bank and Allianz Bajaj Life Insurance Company The Standard Charted Group has entered into an alliance with Allianz Bajaj Life Insurance Company to market and distribute the latters insurance products. Standard Charted Bank and REDIFF.com They have entered into an alliance to provide online and offline banking and related services to the Indian customer. The alliance will enable information on the entire range of the banks customer banking products to be made available to the 6.4 million online customers of Rediff.com Standard Charted and Department of Post Under the alliance, India post will market credit cards and other consumer banking products of Standard Chartered Bank through Data Post. While the partnership will enable Standard Chartered to leverage the extensive national network of post offices to distribute and market its products, the post offices will also be the payment collection points for the bank's credit card customers. The bank will also utilise Speed Post extensively to send its credit cards to customers. CHAPTER-3 ANALYSIS & INTERPRETATION

THE RESULTS OF A SURVEY WHICH WAS CONDUCTED ON 50 RESPONDENTS HAVING SAVING ACCOUNTS IN STANDARD CHARTERED BANK IS AS FOLLOWED DURATION WITH BANK The study of 50 Standard Chartered Bank respondents consisted of a majority of customers who had been with the Bank for a reasonable amount of time. This is good as these customers have had the opportunity to properly access the service level of the Bank, and can compare their experiences of Standard Chartered Bank with banks they have previously and are currently dealing with. Out of the total respondents only 3% have been with the Bank for less than 6 months, the rest 97% have had the opportunity to know about the strengths and weaknesses of the Bank. Another inference that we can draw from this study is that couple of years the Bank has been actively acquiring new customers as from the survey we can see that about 80% of the customers have opened their accounts during the past two years. The reason for this could be that during the past two years the Bank has been able to convince many prospective customers about the superior service it is able to offer in comparison to competing Banks. Another reason could be that the customer base of the Bank has increased due to sheer word of mouth of the Banks millions of satisfied customers. REASON FOR CHOOSING BANK The Bank is always interested to know what was that one reason that prompted the customer to open an account with the Bank even though he is flooded with very attractive options from the competing Banks. If the Bank could get to know of that very compelling factor that convinced the customer to open the account then the Bank could use this in its favor to attract more customers. From the study conducted the factor which has come out strongest in this regards is the Other Reasons getting 44% of the responses , going deeper into this response by asking the respondent what is the factor they include in this Other Reasons is that most people are not the deciding factor when they open a saving account, this is done so by their employers. The customers salary accounts are created by the companies in which they work.

A very important inference that can be drawn from this is that Standard Chartered Bank should be active in maintaining close links with the corporate sector, this would help the Bank get very profitable Corporate Accounts in addition to the Saving Accounts.. Closely following the Other Reasons option was that 34% of the respondents opened their account with the Bank because Standard Chartered Bank was Recommend by Family/Friends. This is a very important finding as the existing customers of the Bank have been recommending the Bank to their acquaintances after their good experiences with the Bank. But this could also turn as an disadvantage to the Bank as if there are some dissatisfied customer he might dissuade a prospective account holder, to deal with this problem the bank should keep up with its good service and continue to make its Account holders satisfied with its consistently good services and products it offers. The next important factor while choosing a Bank is the Distance the Bank is located from the Office/Residence of the Customer, 16% of the respondents felt this was the most important factor. This is an area of concern for the Bank as Standard Chartered Bank has only 13 Branches which are located in Delhi apart from this the All India figure for number of Branches of Standard Chartered Bank is 57. This figure is not very impressive when compared to Standard Chartered Banks rivals ICICI Bank and HDFC Bank which have a massive Delhi and All India branch presence. The Bank must increase their Branch Presence in Especially the Metro cities which the Bank is targeting. Apart from this an effort should be made to increase Branch presence in the potential profitable parts of the country. The forth most important factor which influences the customer to open an Account is the Reputation/Brand Name of Standard Chartered Bank., 6% of the respondents choose this option. Standard Chartered Bank is an Internationally Recognized Name when it comes to Banking, it has a very strong Reputation and has tremendous Goodwill in all sections of the society. The Bank should be careful that their Goodwill is maintained for the years to come, this would bring in much more business for the Bank.. The fifth factor which did not receive any responses was Advertisement The respondents did not feel that Advertisements prompted them to open accounts with the Bank. This does not undermine the importance of

Advertisements when it comes to informing the customers of the new products and offerings the Bank is providing. OTHER ACCOUNTS HELD Holding Multiple Saving Accounts is a very common practice today, it would be highly rare to find a person who holds only a single Account with a particular Bank. It is common for people to hold two or three accounts in their name. Multiple Accounts held by customers give them the opportunity to compare the services offered by different Banks. In our study we found the Bank whose Account was held by most number of customers in addition to Standard Chartered Bank was ICICI Bank with 12 respondents this was followed by HDFC Bank. Banks like ICICI Bank and HDFC Bank pose a serious threat to Standard Chartered Bank when it comes to Saving Accounts simply for the reason that these Banks have been successful in creating a vast network of Branches and ATM all over the country. In the Other Banks category it included Government and Private/Foreign Banks. In the Government Banks there were Bank of Baroda, Punjab National Bank, Central Bank of India. The Banks in the private sector included CITIBANK, ABN Amro,HSBC,etc. The one Bank in the Government sector which got a reasonable number of responses was State Bank of India (SBI), SBI is the largest commercial Bank in India, it has the largest branch network amongst all Banks be it in the Public or Private sector. But due to little attention given on customer service as is the case with most public sector undertakings, its customers are shifting to Banks in Private Sector like Standard Chartered Bank. MOST FREQUENT POINT OF INTERACTION WITH THE BANK The answer to the Question that what would be the point of interaction with a Bank would have a few years ago have been the Branch. But today this is not the obvious answer. The Account holders have the option to use the ATM machines to withdraw or deposit money, or do various other transactions, he could also use the facility of Phone Banking or Internet Banking from the comfort of his home or office. Apart from this some

Banks Including Standard Chartered Bank are provided with facility of Door Step Banking where the customer can even deposit or withdraw cash without ever having to leave his home. The Banks are very interested to know the most popular Point of Interaction with the Bank as if the Bank is lacking in one of these steps can be taken to make the situation better. From the study we can see more than half (more than 50%) of the total respondents feel that they interact most with the Bank with the help of ATM. Banks prefer if its Account holders use the ATM machines to do transaction rather than coming to the Branch as the cost per transaction is lower when using the ATM machine than using the branch. Hence the importance of ATM cannot be overstated. Account holders of Standard Chartered Bank Saving Account having Visa Electron Debit Card can access other Banks ATM machines four times per month for free, after that the Account holder has to pay Rs. 50 per transaction. But holders of ATM cards cannot access machines belonging to other Banks. The number of ATM machines installed by Standard Chartered Bank is 35 in Delhi and the All India tally is 246 machines. When this figure is compared to ICICI Bank which has thrice the number of machines in Delhi or HDFC Bank which has nearly twice the number of machines in Delhi, this is worrying for Standard Chartered Bank. Apart from the above two Banks State Bank of India, UTI Bank have a very intensive network of ATM machines all over the country. The Second most popular point of interaction that arises from the study is the Branch with 32% of the respondents favoring this option. Standard Chartered Bank is unique in an aspect that it follows the Any Branch Banking wherein the Account holder can use any of the Banks 246 Branches all over the country. An aspect that customers really appreciate is the 24 hour Branches and the 365 Days Branches of Standard Chartered Bank. The 24 Hour Branch of Standard Chartered Bank is located at Inner Circle Connaught Place New Delhi apart from these Branches in Mumbai and other cities in India. Standard Chartered Bank is the only Bank which has the facility of a 24 Hour Branch. As for a 365 Day Branch the only Bank having this facility apart from Standard Chartered Bank is ABN Amro Bank.

Standard Chartered Bank customers have the advantage of being able to do Cash Transactions from Non-Branch, this facility is provided by a select few Banks and popular Banks like ICICI Bank and HDFC Bank do not provide this service. Standard Chartered Bank should open more Branches in Delhi as Branch Banking is the second most Frequent Point of Interaction. There is a need to increase its Branch presence in other Cities around India if Standard Chartered Bank wants to be known as a household name in the country. The third most Frequent Point of Interaction is Phone Banking with 11.5% of the respondents favoring this medium. Phone Banking is one of the new age Banking techniques. It is in its infancy in India and people have not taken to it as is the case in other Developed Countries in the World. In the study it was seen that customers have mixed feeling when it comes to Phone Banking as sometimes they do not find it as an effective alternate to traditional forms of Banking. The forth most Frequent Point of Interaction with the Bank is Internet Banking with 4% of the respondents favoring this medium. Internet Banking is the most modern means of Banking available to the customers but due to the general perception that this medium is not safe it is not used by many people. In our study only 60% of the total respondents have atleast once used Internet Banking. The two option which were not favored by any respondents as the most Frequent Point of Interaction are Drop Box Facility and Door Step Banking. Accounts holders admit having used the Drop Box facility and find it quite a convenience but do not consider it as the most frequent point of interaction. When it comes to Door Step Banking very few Account Holders admit having used the service. This is due to two reasons ,first, people dont consider it as the most safe means of Banking and second, transactions done through this medium cost the customers.

TIMES ATM USED PER WEEK

The study has confirmed the fact that ATM is a very popular means of Banking today , in fact it is the Most Frequent Point of Interaction with the Bank. Banks prefer the use of ATM as the cost per transaction is quite low as compared to Branch Banking. Banks are always interested to know the frequency with which the ATM machines are used per month. From our study we infer that most Account holders (50% of the respondents) use the ATM Less than 2 times per week, this is followed by 40% of the respondents who use the facility between 2 to 4 times per week. Only 10% of the total respondents use the ATM facility and more than 4 times per week. This finding has an important implication, even though Standard Chartered Bank does not have a very large network of ATM machines and Account holders can access ATM machines of other Banks (4 free transactions only).Most Account holders would not face much problem as even if they are not able to find a Standard Chartered Bank ATM machine they can use other Bank ATM without fearing that they would have to pay Rs. 50 per transaction fee. OVERALL SATISFACTION LEVEL Overall Satisfaction level of the customer is a very important parameter which is valued by all especially service providers like Banks. It includes everything and encompasses total experience of the Account holder with the Bank. It shows the general perception of the account holder. If people who have had experience in dealing with the Bank have a high Overall Satisfaction Level they would definitely Recommend the Bank to their Acquaintances. Any service provider would want their customers to have a high Overall Satisfaction level. Standard Chartered Bank has scored very well in this regard. The most important thing is that no respondent has complained that they are overall dissatisfied with the bank. This is a very important finding because this shows the effort Standard Chartered Bank puts in providing their customers a superior service has not gone waste. More than half of the total respondents (52%) say that they are somewhat satisfied with the overall service of the Bank. About 30% of the total respondents say that they are Very Satisfied with their Overall Experience with the Bank.

Hence about 82% of the Respondents are Satisfied with their Overall Experience with the Bank. There is another category of Respondents (20% of total) who say that they are neither satisfied nor dissatisfied with their Overall Experience with the Bank. This is a worrying aspect and the Bank should pay more attention to these segment of Account holders. The study is showing a very good Overall Satisfaction Level by the Account holders. SATISFACTION LEVEL WITH NUMBER OF BRANCHES Standard Chartered Bank has 57 Branches all over India, and in Delhi alone it has 13 Branches. From the study we can see that about 40% of the total respondent has said that they are somewhat satisfied with the number of Branches of Standard Chartered Bank, and only 8% of the total respondents have said they are very satisfied with number of Branches. There is a large portion of respondent (32%) who are neither satisfied nor dissatisfied with number of Standard Chartered Bank Branches whereas 10% of the respondents are somewhat dissatisfied.

A comparison of the different Banks with number of Branches each has is given belowBANK Standard Chartered Bank ICICI Bank HDFC Bank IDBI CITIBANK HSBC AMN Amro NO. OF BRANCHES NO. OF BRANCHES (INDIA) (DELHI) 83 450 201 65 126 28 9 13 33 19 9 9 3 3

UTI GTB

70 91

From the above table we can see that ICICI Bank is the clear winner when it comes to number of Branches in Delhi and on an All India basis, following it is HDFC Bank. CITIBANK is next when it comes to All India figure but it does not have many Branches in Delhi. If we look at the figures from strictly Delhi point of view then we can infer Standard Chartered Bank has put in a lot of effort on Delhi when number of Branches is concerned.. Nearly 23% of the total Branches of Standard Chartered Bank are located in Delhi. The corresponding figure for ICICI Bank is 8.25% , for HDFC Bank is 9.45% , CITIBANK is 7.14%. The reason for this may be the fact that Standard Chartered Bank is a Bank which wants to cater to niche customers who are willing to maintain a comparatively higher balance in their accounts as compared to account holders of other banks. Therefore Standard Chartered Bank is concentrating on Metro cities like Delhi. SATISFACTION LEVEL WITH BANKING HOURS (10 am to 7 pm) From the study of Standard Chartered Bank Account holders we have been able to infer that Branch Banking is the second most Frequent Point of Interaction with the Bank. The Average Banking Hours is a very important aspect associated with any Bank. In todays fast paced life where people who hold Accounts with the Bank are busy working it is important that they can find a way to visit the Bank without having to miss out on work. The Average Banking Hours of Standard Chartered Bank is from 10am to 7pm , the Bank is open to the public for nine hours. These timings are convenient for Especially those Account holders who are working, these people can visit the Bank after their Office finishes. Apart from the Average Banking Hours Standard Chartered Bank offers to its Account holders 24 Hour Branch , 365 Days Branch and the facility of Sunday Banking. Standard Chartered Bank is the only Bank which offers a 24 Hour Branch in India, this is a big boon for people who cannot take the time out to visit the Bank during the normal working hours and is also very handy during emergencies.

The 365 Day Branch of Standard Chartered Bank is also unique and the only other Bank offering this service is ABN Amro , this Branch is open regardless of the fact that it is a Sunday or a public holiday. Sunday Banking is very useful for people who are busy throughout the week and the only day when they find the time is Sunday. Other Banks offering this service apart from Standard Chartered Bank are ABN Amro and CITIBANK. From the analysis of the data that has been collected from Standard Chartered Bank Account holders we can see that majority of the respondents are satisfied with the Average Banking Hours. The respondents who are Somewhat Satisfied with the Banking Hours consists of 44% of the total , while 28% of the total respondents studied say that they are Very Satisfied. In all 72% of the total respondents are Satisfied with the Banking Hours of Standard Chartered Bank. The respondents who are Neither Satisfied nor Dissatisfied consist of 20% of total number studied , while 8% of the respondents are Somewhat Dissatisfied. SATISFACTION LEVEL WITH PHONE BANKING The concept of Banking by Phone is Quite new in India , but to its credit it has become Quite popular in a short span of time. This service is available to customers of all Private/Foreign Banks and some Indian Government Banks also provide their Account holders with this service. With the help of phone Banking Account holders are able to do a number of transactions without having to leave ones home. But despite these benefits that accrue from Phone Banking there is the aspect of impersonality that is associated with this medium. During the study we have seen that Account holders often complain that the Phone Banking Executives are not able to solve their problems effectively. There have been instances when Phone Banking Executives have behaved rudely with the Account holders. The Account holders feel that even though Phone Banking is useful in certain situations but is not a very effective way to do Banking as there is no face to face interaction. More than half of the respondents (52% of the total respondents) interviewed felt that they were Satisfied with the Phone Banking service

offered by Standard Chartered Bank , while 28% of the total respondents felt that they were Neither Satisfied nor Dissatisfied with Phone Banking. Out of the Account holders Satisfied with Phone Banking 40% were somewhat satisfied and 12% were Very Satisfied. SATISFACTION LEVEL WITH CORRESPONDENCE FROM BANK REACHING IN TIME The Bank has to often communicate with the Account holders regarding many aspects like informing them of the balance in accounts, informing about new offers and products, delivering important passwords and personal identification numbers, etc. The information that is sent to the Account holders through this medium is very important and if the Bank is not able to maintain a satisfactorily standard, it would adversely affect the image of the Bank in the minds of the customers. The results from the study shows a worrying aspects , More than two-third of the total respondents (78%) were in someway or the other Dissatisfied with the Bank in regards to correspondence from Bank reaching in time. The percentage of respondents who were Very Dissatisfied were 34% of the total, and 44% of the respondents were Somewhat Dissatisfied. The respondents who were Somewhat Satisfied were 22% of the total number of respondents. No one was Very Satisfied with this service. WOULD CUSTOMER ACQUAINTANCES ? RECOMMEND THE BANK TO

Standard Chartered Bank like any other Bank is always on the lookout for people to open Accounts with the Bank , this would increase the deposit base of the Bank. The existing Account holders of the Bank can convince a lot of people they know to open Accounts with the Bank. Account holders of the Bank can by their Word of Mouth publicity convince a lot of people to open Accounts with the Bank. In the earlier part of the study when the Reason for Opening A Saving Account with Standard Chartered Bank was studied Recommended by Family/Friends came out to be the second strongest reason. Hence now it is imperative to find out whether the Existing account holders of the Bank would recommend the Bank to their Acquaintances.

The results are Quite encouraging for Standard Chartered Bank , About three- forth of the total respondents (74%) said they would Recommend the Bank to people they know , while 26% felt they would not recommend the Bank as they were not satisfied with the services offered by Standard Chartered Bank. The above finding shows that most of the respondents are satisfied by the services offered by the Bank , but the Bank should improve their services especially for the segment representing one-third of the respondents so that they can also change their view regarding this subject. Having dissatisfied customers is very dangerous as there is always a Risk that these customers might shift to one of Standard Chartered Banks competitors , or they might discourage one of the prospective customer from opening an Account with the Bank.

THE RESULTS OF A GENERAL SURVEY WHICH WAS CONDUCTED ON 105 RESPONDENTS BELONGING TO 10 DIFFERENT BANKS IS AS FOLLOWS:-

BANKS STUDIED

BANKS STUDIED
25 20 15 10 5 0
k nk K SB I nk ro BI C an AN B Am IB IB Ba BO SB PN Ba ID B

20

20 10 10 10 10 10 5 5 5

FC

IC

AB N

IT

IC

This study involved mainly Banks operating in the Private Sector, there are some Banks from the Public Sector but these are at a relatively lower proportion. The Private Bank include both Indian and Foreign Banks , the Indian Banks included ICICI Bank , HDFC Bank While the Foreign Banks apart from Standard Chartered Bank studied included CITIBANK , HSBC , ABN Amro. The Government Banks included most noticeably State Bank of India (Indias Oldest and largest commercial Bank) , Bank of Baroda , apart from other Banks. ATM FACILITY PROVIDED BY BANK ? ATM Banking has today totally Revolutionized Banking in India, it has completely changed the image one used to associate with Banking at one time . The Account holders no longer have to wait in queues so that can Withdraw/Deposit their own money , today simply by inserting the Card in the machine the Account holder can do a variety of transactions any time , any place. The respondents in the study included Account holders from both the Private and Government Banks , as far as the Private Banks are concerned 100% of

An d

hr

the respondents were using the ATM facility provided by the Bank using either the ATM card or Debit Card. But from the respondents in the Government sector Banks not all the Account holders were using the ATM facility. In some cases the respondents interested in the ATM facility but could not avail the service because the Government Banks had delayed the delivery of cards even after the Account holder had applied for the same. Other Account holders preferred the traditional method of Banking rather than this new medium. Overall 86% of the total respondents studied use the ATM facility provided by the Bank, while 14% of the respondents did not use ATM facility. This entire 14% segment represented account holders from the Government Sector Banks. IS MONEY MORE SAFE IN A NATIONALIZED BANK RATHER THAN A PRIVATE BANK ? The safety of Funds that are invested in a Bank is of primarily importance in every depositors mind. Ever since Private and Foreign Banks came on in the Indian scene there has lingered in the minds of potential depositors whether the money they invest in these Banks would be returned to them . This could have been the reason that even after providing much superior service as compared to Government Banks the deposit base of these banks have not reached their potential. Hence to judge the Market Potential of Saving Accounts it was very important to access whether potential and current clients have the feeling that Private sector Banks are not as safe as their Government counterparts. The results from the respondents Questioned is extremely promising as out of the total sample size only 7% felt that private Banks were not as safe as their Government counterparts. The largest chunk of respondents were who said they Disagreed to the statement that Private Banks were not as safe as the Government Banks representing 46% of the respondents. Another 33% of the respondents felt that they Strongly Disagreed to the above and 20% of the respondents Neither Agreed nor Disagreed to the above statement. From the above implication it is very clear that today the public has come to trust the Private sector Banks , this can also be seen from the fact that the

deposit base of Private Banks is increasing at a higher pace than that of government Banks are rising. DOES ADVERTISEMENTS HAVE BEARING ON CHOICE OF BANK ? Advertisement has become an important means used to popularize the goods and services produced by different organizations. Banks are no exception to this , Banks often advertise in Newpapers , magazines , television , etc informing people regarding new products being introduced by them. With the emergence of Private and Foreign Banks who aim to provide the customers with a differentiated product , advertisement plays an important role in creating a image in the minds of the people of a highly differentiated product. These Banks keep aside a huge advertisement budget , And it is not uncommon for Celebrities from movies and sports industry to endorse the products being offered by the Banks. It is important to know whether people feel that they get influenced by Advertisements , and if the answer is yes then it would be worthwhile for the Banks to invest more on advertisements. The results from the study shows that according to people advertisement does have a bearing on choice of Bank , More than 69% of the respondents felt Advertisement is important while the balance 31% felt the opposite. DO FREEBIES OFFERED BY THE BANK HAVE A BEARING ON THE CHOICE OF BANK ? Apart from advertisements Banks often offer prospective customers offers and incentives to lure them to open accounts with the Bank. This freebies include free debit card , free insurance or some other of the Banks products. It is seen these incentives have some effect on convincing the customer to open an account with the Bank. These offers and incentives help the Bank in offering a Differentiated product in a highly competitive market. It is necessary to know whether these free incentives offered have a bearing on the choice of Bank. Out of the respondents questioned 59% of the

respondents felt that these freebies does help them make up their mind regarding a certain Bank , while 41% of the respondents felt that these were not important.

MOST FREQUENT POINT OF INTERACTION WITH BANK Banks in the Private and Government sector provide to their customers with different types of medium through which they can interact with the Bank. Private Sector Banks have been in the forefront of providing their customers with technologically advanced mediums like Internet Banking , Mobile Banking , ATM Facility , Phone Banking ,etc. Government Banks have rather late realized that if they do not invest in these modern medium of Banking their deposit base would shrink. Now these Banks are investing heavily in installing ATM machines , they have set up call centers for Phone Banking, etc. State Bank of India is one such Bank which has one of the largest network of ATM machines all over the country. Generally the study has concluded that for Private Sector Banks ATM has come out as the most frequent point of interaction with the Bank , But Branch Banking is more popular when Government Banks are concerned. Phone Banking and Internet Banking are western concepts of Banking which have been popularized by Private Banks operating in India. The usage of these mediums are restricted to Private Banks. Government Banks are currently putting these mediums in place for its customers but it will be some time before Internet and Phone Banking will become popular for Government Bank Account holders. Overall the medium which has come out as the most popular point of interaction with Banks is the ATM Facility with 42.85% of the respondents choosing this option. Next most popular Point of Interaction with the Banks is Branch Banking with 30.47% of the respondents choosing this option. Phone Banking comes next with 19.05% of the respondents choosing this as the most frequent point of interaction.

Internet Banking is favored by 7.6% of the respondents as their favorite medium and Drop Box Facility is not considered by anyone as their most frequent point of interaction.

Standard Chartered Bank POSITIVE ASPECTS 1. Debit card holders of Standard Chartered Bank Access Plus Saving Account can use their card to transact from other Visa Electron machines four times free per month. This is a unique benefit which is available to Standard Chartered Bank customers. After the free transactions every time other machines are used RS. 50 is charged per transaction. This is over and above the Unlimited free use of Standard Chartered Bank machines the customer is entitled. One more Bank which allows its customers two free use of other Bank machine is ABN Amro Bank. All other Banks charge their customers if they use other Bank machines. Standard Chartered Bank has a network of 246 machines All over India and 35 in the Delhi Region alone. The corresponding figure for ABN Amro is 40 and 13 respectively. In the study an attempt was made to find out how many times the ATM Facility was used by Account holders per week , the results showed that 50% of the respondents used the machine Less than two times per week and 40% used the Facility between two and four times per week. From the above we can infer that on the basis of ATM usage rate Standard Chartered Bank Account holders would not get in a position that they might have to pay the transactional fee of using other Bank machines. 2. Average Banking hours (10am to 7pm) of Standard Chartered Bank is nine hours per day. This is very good when compared to other Banks. Only ICICI Bank has better working hours (8am to 8pm) , But it does not

offer its customers 24 Hour Branch and 365 Day Branch as is the case with Standard Chartered Bank. Standard Chartered Bank is the only Bank in the country offering a 24 Hour Branch. At this Branch account holders can do their Banking transactions at any time. This is one of the many firsts which Standard Chartered Bank is associated. Apart from Standard Chartered Bank , ABN Amro Bank is the only Bank which offers a 365 Day Branch. Sunday Banking is allowed at Standard Chartered Bank , this is a unique feature as established Banks like ICICI Bank and HDFC Banks do not provide these services. The Account holders are very satisfied with these facilities offered by Standard Chartered Bank. 3. The Maximum Withdrawal Limit from a Standard Chartered Bank ATM machine per day is RS. 25000. By allowing its customers access to this amount of their cash Standard Chartered Bank is allowing lot of Convenience to its customers. It frees the customers of the worry that if there is an emergency , he will not fall short of cash. The ATM facility users at the Bank are very satisfied by this service. The above limit for ICICI Bank and HDFC Bank is RS.15000 , which is far less than Standard Chartered Banks limit. 4. Standard Chartered Bank offers its customers the facility of cash transaction from non-branch , this is also one of the unique facilities offered by the Bank. Established players like ICICI Bank and HDFC Bank does not provide this service. The Account holders of the Bank find the above extremely useful. 5. Standard Chartered Bank offers to its Account holders to Link Their saving account with other Standard Chartered Bank products like credit cards, etc. The customers of the Bank find this facility very useful as it frees them of the worry of having to make individual payments , and having to remember due dates. Another very useful service offered to the Account holders is the automatic payment of Utility Bills(electricity, water, phones payments). Crosstabs

Null Hypothesis: There is no association between age and banking preference of Standard Chartered Bank Alternative Hypothesis: There is association between age and banking preference of Standard Chartered Bank Case Processing Summary
Cases Valid N Age StanC * 19 Missing N 81% Total N 100

Percent 19%

Percent 81%

Percent 100.0%

CHAPTER-4 CONCLUSION & RECOMMENDATION

CONCLUSION
1. Standard Chartered Bank is a Leading Bank in the country , it provides a variety of products and services to different segments of customers. 2. The Bank aims to serve customers from teenagers to senior citizens , hence different products designed to suit specific requirements of the above. 3. Aims to serve all classes of the society from the salaried middle class to the high income business class. Customers are categorized and segmented according to their requirements and needs. For Example , the Axcess Plus Saving Account aims to serve middle class customers so minimum balance required to be maintained is RS. 10000. While the Super Value Saving Account is targeted at high income customers, the minimum balance requirement is RS. 50000. 4. Customers who are more profitable to the Bank (High Value Customers) are provided special facilities. Priority Banking is meant to serve these high value customers. 5. The Bank prides itself with the ability to provide differentative products in the crowed market of saving accounts. Bank offers free insurance , special co-branded debit cards (Smartfill Debit Card) which makes its product unique. 6. The Bank is also involved in marketing activities which serves as a medium of advertisement for the Bank. These are as follows: Extended happy hours at certain pubs in Delhi for the Banks account holders. Gift Vouchers on making utility payments , such as cell phones , electricity and MTNL bills. Free Gifts like T-shirts/watches to its customers. Free add-on cards for relatives. 7. The Bank wants its customers to transact more through Internet Banking and ATM , Rather than the customers using the branch.

10. 11. 12.

13. 14. 15.

8. The Credit/Debit Cards provided by the Bank are Internationally Accepted around the world , Hence giving the customers the convenience to transact anytime , anywhere. 9. The Bank has tied up with other Banks so that its customers can use other Banks ATM facility for free (four free transactions) The Bank also provides DEMAT account and also sells Mutual Funds , this provides the Bank and Government additional revenue. The Bank has been very successful in enlarging its customer base during the last couple of years. The Number One Reason of people choosing Standard Chartered Bank is the Brand Name/Reputation of the Bank. Hence it should be careful that the Brand name and Goodwill the Bank has earned is not diluted. The Biggest competitors of the Bank are ICICI Bank and HDFC Bank. ATM Facility is most popular way to transact with the Bank. Overall the customers appreciate the service and products offered by the Bank and are willing to recommend the Bank to their acquaintances , But more attention has to paid towards: Increasing the number of ATM machines. Improving Internet Banking Facility. Correspondence from Bank reaching in time. Employee Courtesy. 16. Advertisements do play a role in attracting prospective customers to the Bank.

RECOMMENDATION
The SUVIDHA Account that is offered by CITIBANK has become very popular in Banglore , But the biggest competition to Standard Chartered Bank especially in Delhi and Mumbai are ICICI Bank and HDFC Bank. To gain a foothold in these lucrative markets Standard Chartered Bank should: 1. The Number one complaint of Standard Chartered Bank customers is the limited number of ATM machines (Delhi-35 All India-246) that the Bank operates. Since ATM is the most popular point of interaction with the Bank it is imperative that the Bank increases the number of ATM machines. Standard Chartered Bank must enter into alliances with other Banks , so that its customers can use those Banks ATM facility free of any charge. 2. The Bank should upgrade the ATM machines with video conferencing facility , this would help the Bank project the ATM machine as a minibranch. 3. The Bank should take advantage of its world wide network of ATM machines , as more and more Indians are travelling abroad. The advantages of being able to access ones account anywhere in the world must be highlighted. 4. The Bank should reduce the Transaction cost of Non-Standard Chartered Bank ATM machines. 5. Account holders of Standard Chartered Bank often have experienced that there is a delay on the part of the Bank to dispatch correspondence meant for the Account holder. More than four-fifth of the respondents were Dissatisfied to a certain extent because of delay for important correspondence in reaching the customer in time.

6. Account holders who have applied for Internet Banking complain that there is a delay in the password reaching them , hence causing inconvenience. Also there have been occasions when Debit Card has reached but PIN which comes separately has not reached. 7. Apart from this account holders have been frustrated because of delay in the Statement of Account reaching them. 8. Overall the Account holders who have availed the Phone Banking service are quite satisfied with the service , they feel it is a useful and convenient facility. But some respondents felt that it would be better if the Phone Banking executives were more sensitive to the needs of the customers , and made effort that the problem is solved without the Account holder requiring to call again. 9. Set up a dedicated call center for Debit card holders on the same lines of the Global Consumer Bank Division for Credit Cards. 10.Account holders feel that it would be good if the Bank offered incentives, freebies to its existing customers , this would keep the customers happy and satisfied with the Bank. Account holders feel that the Bank is quick to give offers to its customers only when it feels that customer is going to stop doing business with the Bank. 11.Another overwhelming Demand of the Account holders of the Bank is that they should receiving free monthly statement of account from the Bank instead of the current quarterly statement. The account holders of ICICI Bank and HDFC Bank get Free monthly statements and the customers feel that there is no reason why Standard Chartered Bank should not provide them with the same. 12.Door Step Banking is a medium of Banking for the future, Standard Chartered Bank is again been in the forefront of offering new and innovative facilities to its customers. Leading Banks such as ICICI and HDFC are yet to provide this service to its customers.The Bank should put in extra effort to popularize this service.

13. The Bank should launch schemes whereby people are encouraged to open accounts for their children , also special incentives and offers should be given for students to open accounts with the Bank. This would help increase the deposit base of the bank.

14.
15.

Try to convince companies to open Corporate Accounts with the Bank.

The Bank should extend the service of dropping important documents to all its customers. This facility should not be restricted to the high value customers. It was observed that during the Branch visits there was insufficient or waning management support , this aspect needs to be looked into.

16.

BIBLOGRAPHY
There was immense need and flow of the information while conducting the analysis as well as while writing the thesis report, which was gathered through various sources mentioned below: Internet www. Standard Chartered Bank. com www. Standard Chartered Bank.co.in www. Standard Chartered Bank.com www.indiainfoline.com www.google.com www.economictimes.com Various Magazines and Newspapers such as A&M Outlook Financial Times The Economic Times The Times of India The Hindustan Times Reference BooksMarketing Management Philip Kotler Marketing Management- V S Ramaswamy & S Namakumary Marketing Research- Harper W Boyd, Jr; Ralph Westfall; Stanley F.Stasch Journals, Broachers and various other documents gathered and collected from bank and various other sources such as ATM centers and associates.

APPENDEX The Questionnaire used specifically for standard Chartered Bank Account holders is below. The responses of 50 Account holders were taken using this Questionnaire.

QUESTIONNAIRE NAME ADDRESS AGE Below 25 years 25 to 40 35 to 50 Service 50 to 60 student Above 60 years Others Above 5

OCCUPATION Business Professional

ANNUAL INCOME Less than 1.5 lakhs 1.5 lakhs to 3 lakhs lakhs

3 lakhs to 5 lakhs

1) For how long have you held a saving account with the bank? Less than 6 months 1 to 2 years 6 months to 1 year Over 2 years

What made you choose Standard Chartered Bank? Recommended by family/friends

Brand Name/Reputation of Bank Advertisement Branch near Residence/Office Other Reason (please specify) In addition to the above account do you hold a saving account in some other bank? If yes please specify below.

What is your most frequent point of interaction with the bank? Visit Branch ATM Phone Banking Drop Box Internet Banking How many times a week do you use your ATM/Debit Card? Less than 2 times a week 2 to 4 times a week More than 4 times a week Rate your Satisfaction level on the following specific parameters regarding the services offered by Standard Chartered Bank.
Very Satisfied Overall Satisfaction Level Number of Branches Number of ATM Somewhat Satisfied Neither Satisfied nor Dissatisfied Somewhat Dissatisfied Very Dissatisfied

Banking Hours(Avg. 10am-7pm.) Phone Banking Internet Banking Bank Staff (courteous, qualified) Efficiency in handling daily transaction Statements reach in time

In your opinion is the minimum balance(Rs. 10000) on the high side? Yes No

Do you think the bank should communicate more by way of advertisements to convey to the customers regarding new products? Yes No How many times a week do you use your ATM/Debit Card? Less than 2 times a week 2 to 4 times a week More than 4 times a week Rate your Satisfaction level on the following specific parameters regarding the services offered by Standard Chartered Bank. Would you Recommend this bank to your acquaintances. Yes No

Are there any suggestions which according to you will make the services of the bank better? If yes please specify in the space below.