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Project Report On A Study on Effectiveness of service delivery with reference to Jammu & Kashmir, Srinagar (Corporate Headquarter)

Submitted in partial fulfillment of the requirements for the award of the degree of

BBA Under the guidance of Miss Sonpreet Kaur

Submitted by MUNASIR AHMAD Chandigarh Business School Affiliated to PUNJAB TECHNICAL UNIVERSITY

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Certificate of Supervisor

This is to certify that Mr.Munasir Ahmad Roll No. 104302462355 has completed the research project titled A Study on Effectiveness of service delivery with reference to Jammu & Kashmir bank Srinagar under my supervision in partial fulfillment of the Bachelor Of Business Administration degree of PUNJAB TECHINAL UNIVERSITY

Supervisors Signature: Supervisors Name:Sonpreet Kaur Supervisiors Designation:Lecturer

Date: Place: landran Formarded for evaluation by the Dean: (Deans Signature) Seal of the Dean

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DECLARATION

I, hereby declare that the project report entitled as A Study on Effectiveness of service delivery with reference to Jammu & Kashmir Bank, Srinagar is my own original research work and this report has not been submitted to any University/ Institution for the award of any professional degree or diploma .

Munasir Ahmad BBA 5th Sem Chandigarh Business School

Date: Place:Landran

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ACKNOWLEDGEMENT

My sincere thanks to our honorable Founder and Chairman of Chandigarh Business School Of Administration for his sincere endeavour in educating us in this Premier Institution.. I wish to express my gratitude to Lec.Sonpreet Kaur for her inspiring guidance, scholarly supervision, unstinted motivation and patience, yet thought provoking encouragement right from the inception of the study up to its logical and conclusion. I am extremely grateful to Mr Peer Ajaz Ahmad Shah associate executive training j&k bank corporate headquarters srinagar my External guide for their expert advice , support and inspiring me to carry out this project.

Munasir Ahmad

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List of Tables
S.No Particulars 9.1 9.2 Table showing satisfaction level of customers. Page No 34

Table showing criteria for evaluating the quality of services in the 36 bank.

9.3 9.4

Table showing the list of best services in the bank.

38

Table showing the customers experience about the poor services 40 encounter in the bank.

9.5 9.6

Table showing the friendly persons in the bank.

42

Table showing the various waiting time strategies used by the 44 bank.

9.7

Table showing the facilities that are lacking in the bank during the 46 services delivery.

9.8 9.9 9.10 9.11 9.12 9.13

Table showing the availability of parking facility in the bank. Table showing the knowledge level of the banker. Table showing the service competence of the bankers. Table showing the presence of services delivery gap in the bank. Table showing the in-effective services in the bank.

48 50 52 54 56

Table showing the different kinds of services availed by the 58 customers.

9.14

Table showing does the bank provides friendly services.

60

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List of Figures
S.No 9.1 Particulars Page No

Graph showing the satisfaction level of customers about the 35 services provided by the bank.

9.2

Graph showing criteria used to evaluate the quality of the services of the bank.

37

9.3 9.4

Graph showing the services in which the bank is best. Graph showing the occurrence of the poor service encounter in the bank.

39 41

9.5 9.6

Graph showing the friendly persons of the bank. Graph showing the various waiting time strategies used by the bank.

43 45

9.7 9.8 9.9 9.10 9.11 9.12 9.13 9.14

Graph showing the facilities that are lacking in the bank. Graph showing the availability of parking facility in the bank. Graph showing the knowledge level of customers. Graph showing the level of service competence of the banker. Graph showing existence of services delivery in the bank. Graph showing the various in-effective services in the bank. Graph showing various services availed by the customers. Graph showing bankers providing friendly services.

47 49 51 53 55 57 59 61

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TABLE OF CONTENTS: Sl. No. Executive Summary Part A 1. Chapter no 1: Introduction and Industry Profile Credit market structure Structure of the banking sector Non-banking finance companies 3 4-5 5 CONTENTS Page No.

2. Chapter no 2: Company Profile Introduction to J&K bank Depository Participation Fixed Assets and Premises Market research and Advertising Customer service Financial inclusions Technology Management Risk Management Future Trends Vision and Mission Statements Award received by the bank Name of Board of Directors Product profile of J&K bank Work Flow Model

6-8 9 9-10 10 10-11 11 12 13-14 14-15 15 16 17 18-19 20

3. Chapter no 3: Mckinsey 7s Framework 4. Chapter no 4: Swot Analysis 5. Chapter no 5: Analysis of Financial Statement 6. Chapter no 6: Learning Experience

21-26 27-29 29 30

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Sl. No

Page No PART B 31 31 31 32 32 32 32-33 33 33 34 62 63 63 64

7. Chapter no 7: General Introduction Statement of the Problem Objectives of the study Scope of the Study 8. Chapter no 8: Research Methodology Research Design Data Collection Sampling Limitations of the study 9. Chapter no 9: Data Interpretation and Inference 10. Chapter no 10: Findings Suggestions Conclusion. Bibliography Annexure

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EXECUTIVE SUMMARY OF THE PROJECT


This project report is based on the survey conducted by me for the completion of my internship programme in Jammu & Kashmir Bank, Srinagar. The project is titled as A study on Effectiveness of Service Delivery with reference to Jammu &Kashmir Bank, Srinagar. My survey was completed within a time constraint of two months within the space boundaries of my research limited to parts of Srinagar only. Since my main objective was to focus on the effectiveness of Service Delivery in Jammu & Kashmir Bank, so I had to make use of certain tools that would help me in achieving my objective. So, a questionnaire was prepared, for Jammu & Kashmir Bank customers. Apart from this tool some other tools like telecalling and personal interviews were also incorporated for the purpose of gaining information from the respondents. After gathering the customer responses, the data was tabulated and was thoroughly analysed in order to get meaningful information from the data. After the analysis was completed, it was found that there were many marketing strategies that Jammu & Kashmir Bank was using in the said area intentionally or unintentionally and these strategies are useful for them to survive in todays era of cut throat competition. The strategies that I found out to be functioning from the Jammu & Kashmir Bank side were: Brand Awareness. Cross selling. Quick and better services. Target oriented Banking. Targeting middle and upper class customer Personal attention and employee friendliness. Physical Evidence. Knowledgeable sales persons. Variety of products. One to One marketing.

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After analyzing the data I came to the conclusion that most of the Jammu & Kashmir Bank customers are satisfied with the bank and want to continue banking with the Jammu & Kashmir Bank. And the driving force behind all this are the Services Delivery strategies mentioned above. After completion of the project I was able to get the insights of the corporate sector industries to a very large extent and this has helped me greatly in reshaping my mind and let me know the differences between the real world and the imaginary one. This time I find myself moved up the ladder both professionally and academically.

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1. INDUSTRIAL BACKGROUND
The evolution of the commercial banking in India has been governed by the social objective of expanding the reach of banking service and mobilization of domestic savings. The roots of this social character of Indian banking can be traced to the passing of the state bank of India Act, 1955, by which the undertaking of the imperial Bank of India was taken over by the newly constituted State Bank of India (SBI). An Act of Parliament, nationalizing the former imperial Bank of India, established the SBI in 1955. this institution and its seven associate banks, which become SBI subsidiaries in 1960, were distinct from the other major Indian commercial banks which remained in private hands until two rounds of nationalization in 1969 (14 banks) and, in 1980 (6 banks). In Feb. 1969, the Govt. of Indias (GOIs) nationalization of 14 largest private sector banks was the culmination of pressures to use the banks as public instruments of development. The GOI imposed Social control on banks, of which priority lending was a major aspect. It introduced restrictions on advances by banking companies. These were intended to ensure that bank advances were confined not only to large scale industries and big business houses but were also directed, in due proportion to other important sectors like Agriculture, Small Scale Industries and Exports. Since 1969, there has been a significant spread of banking habit in the economy and banks have been able to mobilize a large amount of savings. However, by 1980s, it was generally perceived that the operational efficiency of banks was declining. Banks were characterized by low profitability, high and growing non-performing assets, and low capital base. Poor internal controls and the lack of proper disclosure norms led to many problems being kept under cover. The quality of customer service did not keep pace with the increasing expectations. All these reasons led to the next phase of nationalization. The 1969 nationalization had raised public sector banks share of deposit from 31% to 86% while the nationalization of 1980 raised the same to 92%. In 1991, a fresh era in Indian banking began with the introduction of banking sector reforms as part of the over-all economic liberalization in India.

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1.1. CREDIT MARKET STRUCTURE


In India, given the relatively underdeveloped capital market and with little, with minimal resources, firms and economic entities depend largely on financial intermediaries to meet their fund requirements. In terms of supply of credit, financial intermediaries can be proudly categorized as institutional and non-institutional. The major institutional supplies of credit in India are banks and non-bank financial institutions (that is, developed financial institutions (FIs), other financial institutions (FIs) and non-banking finance companies (NBFC) the non-institutional are unorganized sources of credit include indigenous bankers and money lenders. Information about the unorganized sector is limited and not readily available. An important feature of the credit market is its term structure: (a) Short-term credit, (b) Medium-term credit and (c) Long term credit.

1.2. STRUCTURE OF THE BANKING SECTOR


The banking sector in India functions under the umbrella of RBI. The RBI Act was passed in 1934 and the RBI was constituted as Apex Bank. The Banking Regulations Act was passed in 1949. This Act brought the RBI under Govt. control. Under the act the RBI got wide ranging powers for supervision and control of banks. The act also vested licensing powers and the authority to conduct to inspections with the RBI. Banks in India can broadly classified as Commercial Banks, Regional Rural Banks or (RRBs) and scheduled commercial or (SCBs) and cooperative Banks. The SCBs can be classified into the following three categories: Public Sector Banks. (PSBs) - SBI and its associates, and Nationalized Banks. Private Sector Banks Old and New. Foreign Banks Banks of Non Indian Origin. The number of commercial banks in the country is 101, of which 27 are PSBs, 24 are Old private banks, 8 are new private sector banks and 42 are foreign banks. These 101 banks had total assets worth Rs. 11,104 billion as on March 31, 2004, and a network of 50,855

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branches as on June 30, 2004., making them the most active and predominant financial intermediaries in the country. Commercial Banks ---------------- (101) Public Sector Banks --------------- (27) Foreign Banks in India -------------(42) Private Sector Banks ----------------(32) Old Private banks -------------------- (24) New Private Banks ------------------ (08) State Bank of India ------------------ (01) State Bank Associates ---------------- (07) Since the advent of the banking sector reforms in 1991, the Indian banking industry has undergone a great transformation. However, the banking industry is still dominated by PSBs and development banks.

1.3. NON-BANKING FINANCE COMPANIES


Non-banking finance companies (NBFCs) are financial intermediaries engaged primarily in the business of accepting deposits and marketing loans and advances, investments, leasing, hire purchase etc, NBFCs are of various types, such as loan companies, investment companies, hire purchase, finance companies, equipment leasing companies, mutual benefit financial companies also known as Nidhis miscellaneous, nonbanking companies also known as chit funds and residuary non baking companies (RNBCs). Although NBFCs in India existed for a long time, they short into prominence in late 80s and early 90s. During 1991-1998,the total assets of NBFCs increased at a

compounded Annual growth rate (CAGR) of 36.07% customer orientation, concentration in the main financial centers and attractive rate on return offered by them were some of the reasons for their rapid growth. As on march 31, 1999, the total assets of non-banking finance companies NBFCs/RNBCs (Residuary non-banking companies) aggregated Rs.470.5 billion, representing nearly 5% of total assets of all SCBs.

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2. JAMMU AND KASHMIR BANK PROFILE

2.1. HISTORICAL BACKGROUND


Traditional moneylenders performed the entire banking in the State of Jammu & Kashmir that too at exorbitant interest rates. This was round about during the early 19th century. At the same time some banks like Punjab National Bank, Grindlays Bank and the Imperial Bank of India functioned in the State to a limited extent. The role of these banks was reduced to the acceptance of deposits, as they could not grant loan and advances to the people of the State owing to the statutory limitations. Under this scenario banks could not ameliorate the financial and social position of the people of the State. To overcome this crisis, the then ruler of the State, Maharaja Hari Singh conceived the idea to establish a bank to help people of the State to come out of the economic backwardness. The scheme of forming the bank was formulated by an eminent banker Sir Sorabji N. Pochkanwala, the then Managing Director of the Central Bank of India. The outcome of the efforts of Sir Sorabji resulted in establishment of the Jammu & Kashmir Bank Limited on October 1st, 1938. The bank formally commenced its business on July 4th, 1939. The Bank opened its first branch at Residency Road, Srinagar. Encouraged by the support of the public, it opened another branch at Jammu. By 1946, the number of branches of the bank went up to twelve and a half. From the small beginning the bank has now grown to become a giant with a network of 560 branches spread over the length and breadth of the country. Since the starting of the bank continuous changes have taken place in the financial services scenario. Banking in J&K underwent tremendous transformation. Besides exhibiting its commercial character, the bank has been meeting the social obligations of the people too. The Jammu and Kashmir Bank Ltd., is the first bank of its nature and composition as a State owned bank in the country. The State Government besides contributing more than half of the issued capital also appointed it as its bankers for general banking and treasury business. The bank had to coup up with several serious problems, particularly at the time of independence, when two of its branches at Muzaffarabad and Mirpur fell to the other in

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1947. However, the State government came with assistance of Rs.6.00 lacs to meet the claims. Latest communications of RBI (Jan.2011) reveal that the Govt. of Jammu & Kashmir like other banks has signed an MOU with RBI in terms of which RBI has become bankers to State government. Following the extension of central laws to the State of Jammu & Kashmir, the bank was defined as a Government company as per the provisions of Indian Companies Act, 1956. The era of nationalization of the major banks, when the union government announced control on banking, the bank began to emerge from its regional shell by opening branches beyond the state boundaries & emerged as a leading bank. In 1971, the bank was included in the second schedule of the RBI act 1934. It had its first full time chairman following social control measures in banks in the country. Five years later in 1976,it was declared as an A class bank. By the end of 1980 it s branches measure 212 with aggregated deposits of Rs 191.76 Crores & advances of Rs61.67 Crore The bank Became pioneer in financing different sectors like road transport, horticulture, Hotels, Hostels & House Boats tourism & extended finance to the artisans to promote traditional handicrafts. In fact the bank was the first commercial Indian bank to introduce schemes for financing fruit crops on standing trees in the state of Jammu & Kashmir, a policy that was subsequently emulated by other banks elsewhere in the country. The bank expended its area of operation & widened its credit base by financing schemes like Integral Rural Development (IRDP) SEEUY, PMRY, NRY and other self employment programs sponsored by the State and Central governments. In the year 1983, the bank was granted license from RBI to handle foreign exchange business independently and became the only bank to have its foreign exchange Dealing Department in Srinagar which was later on shifted to Delhi then ultimately to Mumbai under compulsions of Political disturbances prevailing in the State. In 1986, the Jammu & Kashmir Bank became the first and only bank, which was permitted by the RBI to sponsor two regional banks, namely, Kamraz Rural Bank and Jammu Rural

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Bank. Recently in the current financial year the bank has merged both the Rural Banks and formed Jammu and Kashmir Grameen Bank which is first of its kind in the country. With the substantial increase in its capital base, the bank is participating more extensively in financing of infrastructure projects. A number of leading Corporate and blue chip companies as well as a number of prominent Public Sector Undertakings of the Indian government have become part of its clientele. The financials of the bank are very strong. The bank deposit instruments have been highly rated by CRISIL (Credit Rating Information Service of India Limited). The reserves were created not only to meet the statutory requirements but also provided for the bad and doubtful debts and for meeting other contingencies. The free reserves which were less than Rs. 1.00 lacs in1944 and Rs. 7.00 lacs in1966 stood at Rs.42.50 lacs in 1975 and less than Rs.1.00 crore in 1979. In a span of just over 16 years, the reserves have grown 10,000 times and crossed the Rs. 100.00 Cr. Mark in 1995, excluding those held for the risk-weighted assets. With continued impressive business results during the last 15 years, the bank has further strengthened its capital base and reserve base which stood at the incredible figure of Rs.3010 Crores, which signifies a commendable 2900% increase in fifteen years from March, 1995. It also substantiates a sound fund management and the relative policy. The capital and the reserves of the bank increased to Rs.3010.46 crores as on 31st March, 2010from 2622.86 crores of the previous year thereby showing increase of 14.7%

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2.2. DEPOSITORY PARTICIPATION


In congruence to the commitment of the bank to provide state of the art financial services to its existing and prospective customers, the bank joined hands with NSDL and started its Depository Service Operation from Delhi, Srinagar and Jammu on 23rd March, 2001 as the first ISO certified Indian Bank DP in the market. To start with, the bank provided quality services to more than 4000 customers with custody of securities worth Rs.915 crores. The bank continues to be DP of NSDL & CSDL and has established sub- Broking offices at U.C.Sgr., Pulwama, Sopore, Kathua, Patel Nagar, R.R.Jammu and Udhampur. Total depository accounts have increased to 14217 and the value of the securities held in these Demat accounts stood at Rs.8032.89 crores as on 31-3-2010. With the break-up of (3415 accounts at Delhi value of Rs.5733.25 Cr, 4966 at Jammu for value of Rs.149.83 Cr. And 4878 accounts at Srinagar for value of Rs.2145.84 Cr. And the rest with seven subBroking offices).

2.2. FIXED ASSETS AND PREMISES


The creation of fixed assets got the first attention in 1971 when a piece of land at Azadpur, Delhi was purchased at a total cost of Rs.1.46 lacs. In the subsequent years, the bank made outright purchase of buildings at Andheri, Mumbai, Delhi, Gurgaon and other major places. The bank is taking concrete steps to create more real assets not only in the State of J&K where construction of guest house and training college on owned land is being taken up shortly, but also in other parts of the country like Ahmadabad, Goa and Mumbai where the same has been already acquired. The renovation, face lifting of branches in general and branches identified for full/partial computerization has been completed and these premises now provide cleaner & pollution free atmosphere to the valued customers. The banks long cherished dream came true when Mr. Yashwant Sinha, the then Union Finance Minister inaugurated the new Corporate Headquarters of the bank at a very

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impressive ceremony on September 2, 2001 at Srinagar. The five storied building with a double storied annex is one of the best buildings in the State. The bank has built its own Zonal Offices in Kashmir, Jammu and Delhi & International Banking Division atSrinagar. Acquisition of flats for the staff at various places outside the State has already been made.

2.3. MARKET RESEARCH AND ADVERTISING


Marketing & Research Cell, which was created in Corporate Headquarters, last year in tune with the PWC (Price Water Cooper) recommendations, has come up with various values- added products and services to suit customer expectations and requirements. The Cell on continuous basis conducts the market research and identifies the need and expectations of the customers and accordingly shapes the product/services. To reach existing and potential customers through effective communication is vital for business growth in a competitive environment. Keeping this in view, creative promotional campaigns were undertaken to create a strong brand identity for the bank. With multiple options available to the customer in shopping their products, more focus was laid on retail advertising during the previous year and extensive promotional campaign through print and electronic media was undertaken which showed significant results in the form of increased demand for the banks products and customer base.

2.4. CUSTOMER SERVICE


The bank continued its emphasis on maintaining high standards of service to its customer. In this direction, the bank introduced various hi-tech & customer friendly products during the year, providing Value added services to achieve customer satisfaction. Customer complaints received are dealt promptly & expeditiously. The bank is a member of the banking Codes &Standards Board of India &has adopted Codes of banks comment to customer a voluntary code providing protections & Right to know to the customers. The
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bank has established a Codes of banks comment to customer a voluntary code providing protections & Right to know to the customers. The bank has established a 24 X 7 help desk to address customer queries & the desk is slated to be converted into a full-fledged call center in 2008-9. The bank has taken ISO 9000 certification for customer service of various branches. The bank has revamped its delivery channels & added Business Development & promotion Centres (BDPCs) with an aim to get closer to & provide hassle-free service to the customer. Marketing managers & business promotion officers have been placed in all zones for execution of the marketing initiatives.

2.5. FINANCIAL INCLUSIONS


As conveyed through brand & logo, the bank has adopted the missing serving to Empower it is basically Aimed at bringing within its fold the individuals, areas & the segments which has remained unserved & ignored ,hitherto .The bank has initiated adoption of areas for financial scheme in this context .The bank adopted two blocks-Ganderbal from Kashmir Division & R S Pora from Jammu Division-durring2007-08 for financial inclusion under the patronage for Reaching Out to All.

In keeping with its tradition of providing liberal & easily accessible financial service to the under service, the bank launched the fallowing schemes for financial inclusion of these under privileged sections of the society. Financing to weekly Market Hawkers. Financing of Vegetable Vendors J&K bank Craft Development loan. Educational Loan for primary &secondary& Higher/Professional Education. Apple Finance

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J&K bank is the only bank who has formed first grameen bank in the country by merging two of its banks Jammu Rural bank & Kamraz Rural bank.

2.6. TECHNOLOGY MANAGEMENT


The highlights of information technology initiatives undertaken by the bank during 200910 are as under: With computerization of 32 branches during 2009-10, total number of computerized branches has increased to 542 out of total business units of 580 (including Ext. counters and Service branches), covering over 98% business operations of the bank. With rollover of 87 additional branches to core banking solutions (CBS-Financial) during the year, the number of branches on CBS has gone up to 407, which encompass more than 85% of the total business of the bank. 330 branches are rendering internet and SMS banking facilities while 511 branches offer Any where Banking facilities. E Banking facility has been made available at all 407 CBS branches. During the year, 24 off-sight ATMs were realigned, 44 new ATMs installed taking the total number of ATMs to 288. Successful implementation of Integrated Computerized Currency Operations & Management System (ICCOMS), Depository Software (DP Secure), development & implementation of RCC reporting software, centralized inward clearing, Master Card and National Financial Switch (NFS) Transaction Reconciliation System, web based on-line Tax application system, and call tracking for ATM Helpdesk etc. was achieved during the year.

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2.7. RISK MANAGEMENT


The bank continued to focus on risk management on an enterprise wide basis and developing Integrated Risk Management System for efficient management of various risks viz. credit, market & operational. The bank has taken the following initiatives for strengthening risk management practices in line with business strategies as also to achieve compliance with industry best practices and regulatory requirements.

CREDIT RISK:

The bank has focused on improving the credit appraisal and approval process. New standardized appraisal formats have been introduced in the Corporate & SME segments. Centralized processing of credit proposals has been introduced to separate the business development & credit appraisal system. To bring objectivity to the credit risk assessment, eligible borrowers in Corporate & SME segments have been brought under the internal credit rating system during 2007-08. Credit Audit/Loan Review Mechanism has been introduced for standard accounts of Rs.1crore and above. It would help to improve the credit quality & manage credit risk proactively.

MARKET RISK:

The bank is implementing the recommendations of the consultants engaged by the bank for developing a cohesive integrated risk management system particularly in relation to interest rate risk quantification techniques, liquidity management& reporting system. With an endeavor to Asset Liability Management & thereby the market risk management, the bank has switched over to Duration Gap Analysis instead of the Traditional Gap Analysis. With these systems in place, the bank has contained market risk particularly on investment

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portfolio by reducing the non-SLR bonds & debentures portfolio & the duration of overall investment portfolio.

OPERATIONAL RISK:

The bank has constituted an Operational Risk Management Committee (ORMC) at the apex level to monitor progress on operational risk management. A comprehensive policy for Disaster Management & Business Continuity plan (BCP) has been formulated. The bank has already initiated identification risk areas of business units, capturing various operational risk events & analyzing their causative factors.

2.8. FUTURE TRENDS FOR THE YEAR 2011


Business strategy of the bank for 2010-11is built on premise of budget estimates of state & national economy as well as the untapped potential. The strategy aims at expansion, aggressive credit growth & improved liability management. The bank aims to increase leading to improve margins & build volumes. For this purpose the bank will target under serviced areas with high turnover, specialized sectoral lending & specialist commodity financing branch chain for leather, grains & spices. The crux will be to become a universal bank in J&K & a specialized bank in rest of India. The macroeconomic outlook for 2010-2011 is positive & the economy is expected to grow at 8.5% the signs of economic recovery & deflation shall lead the bank to achieve its goal. To achieve the broad based objectives, the following new initiatives have been undertaken by the bank: Innovative financial products like Apple finance, saffron finance, sheep rearing finance, Artisans loan schemes, school bus finance, Khatam band finance, Giri finance, Dastakar finance etc.
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Monetizing bank branch network by offering cash management corridors to school / colleges, revenue/bill collection for various agencies/departments. Third party product distribution. Mutual fund schemes of reliance, UTI & kotak, life insurance products of MetLife India, Non-life insurance products of Bajaj Allianz etc. Entrepreneurs & for project with high yield particularly for creation of venture capital financing .For innovative viable ventures conceived by infrastructure for developing of agriculture/Horticulture in the state. Channel financing. For factoring receivables of suppliers, traders of arts & craft, Commission & forwarding agents

2.9.1. VISION STATEMENT


TO CATALYZE ECONOMIC TRANSFORMATION & CAPITALIZE ON GROWTH. The vision of Jammu & Kashmir bank is to engender economic transformation of Jammu& Kashmir state & capitalize from the growth induces financial prosperity thus engineered. The bank aspires to make Jammu & Kashmir the most prosperous state in country, by helping create a new financial architecture for the Jammu & Kashmir economy, at the center of which will be the Jammu & Kashmir bank.

2.9.2. MISSION STATEMENT


A two-fold mission of Jammu & Kashmir bank is: To provide the people of Jammu & Kashmir, international quality financial service, solutions & to be a super-specialist bank in the rest of country.
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2.10. AWARDS RECEIVED BY THE BANK Udyog Rattan award by IES presented by Mr. I. K. Gujral, former Honble
prime Minster of India.

Pride of India and IMM Award for Excellence as Top Professional manager
and outstanding performance in Management Quality and Innovations in the field of banking by Mr. H. D. DeveGowda, former Honble Prime Minister of India

Excellence Award by Institute of Economic Studies, Delhi. Pride of India Gold Award Indira Gandhi Priyadarshini Award Jammu & Kashmir Government Award for outstanding work in Jammu &
Kashmir Bank presented by the Governor of Jammu and Kashmir on independence day.

Best banker of the year 2001award by Rotary Club of Delhi Capital,


presented by Shri L. K. Advani, Former Deputy Prime Minister of India.

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2.11. NAME OF THE BOARD OF DIRECTORS


*1. Mushtaq Ahmad 2. M.S.VERMA 3. R.K.Gupta 4. Sudhanshu Pandey, IAS 5. Ab. Majid Mir 6. Ashok Kumar 7. Arnab Roy 8. B.L.Dogra 9.Mohd Ibrahim Shahdad 10. Vikrant Kuthiula 11. Prof. Nisar Ali 12. A.M. Mattoo 13. Nihal C. Garware Chairman & C.E.O Director Director Director Executive Director Executive Director Director Director Director Director Director Director Director

*Mr. Mushtaq Ahmed has taken over charge of Chairman and CEO from May 2010

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2.12. PRODUCT PROFILE OF JAMMU AND KASHMIR BANK


J&K Bank offers a wide range of services in the Personal Banking Segment, which are indexed here. Our products are designed with flexibility to suit your personal requirements. Enjoy 24-hour facility through our ATMs - growing speedily it has crossed the 5000 mark. Jammu & Kashmir BANK CAR LOAN: J&K BANK car loan scheme has been designed to help you in purchasing your dreams car. Bank charges low interest rates, & gives you easy repayment options. Jammu & Kashmir BANK HOME LOAN: THE MOST PREFERRED HOME LOAN PROVIDER" voted in AWAAZ Consumer Awards. Jammu & Kashmir BANK HOME LOANS now offers Interest Rates concessions on GREEN HOMES in accordance with Jammu & Kashmir BANK's commitment to Environment protection program. PERSONAL LOAN: The loan will be granted for any legitimate purpose whatsoever (e.g. expenses for domestic or foreign travel, medical treatment of self or a family member, meeting any financial liability, such as marriage of son/daughter, defraying educational expenses of wards, meeting margins for purchase of assets etc.)

FIXED DEPOSITE:

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Jammu & Kashmir Bank fixed deposit is a good option to earn higher income on surplus funds. Bank offers flexibility in period from 15 days to 10 years & can be opened with a nominal amount of Rs. 1000 only.

SAVINGS ACCOUNT: Jammu & Kashmir BANK provides the facility to open your savings account in single or joint names. It has low minimum balance requirements & has full security of money at all times. It provides easy & wide accessibility.

Jammu & Kashmir BANK EDUCATION LOAN: Jammu & Kashmir Bank offers loan to Indian national seeking higher education in India or abroad & have secured admission. Bank gives loan for graduation, post graduation, professional course, etc., which have employment prospects. INTERNATIONAL BANKING: Jammu & Kashmir BANK offers loan for trade finance, merchant banking, correspondent banking etc. CORPORATE BANKING: Jammu & Kashmir Bank provides finance for corporate accounts, mid corporate groups & project finance etc.

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2.13. WORK FLOW MODEL

Application Form

Personal Discussion

Banks Field Investigation

Credit Appraisal by the Bank

Offer Letter Submission of Legal Document & Legal Check

Technical Valuation Check

Registration of Property Documents

Signing Agreement

Disbursement
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3. MCKINSEYS 7s FRAME WORK


7s model was created by McKinsey & company in 1980. Seven factors are included in this model. The model also includes practical guidance for the students. The 7s framework was dividing in thinking about organizational efficiency. In order to analyze how well the organization is positioned to attain its planned objective, this 7s model was created. Tom Peters 7 Robert Waterman two consultants worked on this model. The basic idea of the model is that there are seven internal aspects of an organization.

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3.1. SKILLS
Communication Skill The employees of the bank possess excellent communication skill that helps them to interact with the customers very freely. They are able to communicate everything they want, to their customers very effectively because of their communication skill that they have. Technical Skill The employees of the bank possess a very good technical skill since they have to evaluate huge amounts of data. They are also equipped with the knowledge of the latest technology that comes in their daily use of working. Decision Making Skill The employees of the bank are acquainted with enormous knowledge in their field of work which enables them to make strategic decisions whenever the need arises to take such decisions. Human Skill The employees of the bank are very polite and helpful persons. They treat their customers very friendly whenever there is any interaction of theirs and its customers.

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3.2. STYLE
Bank has centralized system of leadership style Ensuring that the banks board of directors meets regularly, provides effective leadership, exercises control over management & monitors executive performance. Establishing a framework of strategic control & continuously reviewing its efficiency. Establishing clearly documented & transparent management processes for policy development, implementation & review, decision-making, monitoring, control & reporting. Ensuring that the Chairman has responsibility for all aspects of executive management & is accountable to the board for the ultimate performance of the Bank & implementation of the policies laid down by the board.

3.3. SHARED VALUES


To enhance shareholder value To protect the interests of share holders & other stake holders including customers, employees & society at large To ensure transparency & integrity in communication & to make available full accurate & clear information to all concerned. To ensure accountability for performance & to achieve excellence at all levels. To provide corporate leadership of highest standard for others to emulate

3.4. SYSTEM

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The bank has been proactive in responding to the opportunities thrown open by evolving technology & increasing technology penetration. Technologies have been used innovatively for achieving financial inclusion & technology driven banking solutions have been implemented to achieve enhanced customer satisfaction.

NETWORKING
More than 500 branches were added to wide area network during the year. Presently all the branches & ATMs of the bank are networked. The network plays a major role in supporting the Banks business application & is capable of carrying data voice & video in a secure manner.

INTERNET BANKING
With enabling of over 500 branches for Internet Banking, all the branches of the bank are now Internet Banking enabled.

ATM
The Banks ATM network is among the largest in the country. It crossed the milestone of 380 ATMs in December 2010. The bank is planning to increase the number of its ATMs to 500 in coming year.

3.5. STAFF
Selection period of staff in Jammu & Kashmir Bank: Tier I preliminary examination Tier II Main Test Tier III Group Discussion & Interview

RECRUITMENT
Effective leadership, exercises control over management & monitors executive performance.
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Establishing a framework of strategic control & continuously reviewing its efficiency.

Establishing clearly documented & transparent management processes for policy development, implementation & review, decision-making, monitoring, control & reporting.

Ensuring that the Chairman has responsibility for all aspects of executive management & is accountable to the board for the ultimate performance of the Bank & implementation of the policies laid down by the board.

3.6. STRATEGY
The bank has established a codes of banks comment to customer a voluntary code that provides protection and Right to information to the customer. The bank has outsourced its marketing research and advertising to PWC (Price Water Cooper) who does the research and enable the bank to develop new products and services according to customer needs and wants. The bank has established a new method of paying its employees the bonus that has been encrypted in the banks Payment of Bonus Act. The bank has also introduced 24*7 help desk to address to its customers day-in and day-out and it will be integrated with the full-fledged call centre support. The bank has improved its delivery channel and added Business Development and Promotion Centres with an aim to get closer and provide hassle-free services to its customers. The bank has developed integrated risk management system for efficient management of various risks viz. credit risk, market risk and operational risk.

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3.7. STRUCTURE

BOD

CEO

ED(Business Operations)

H & RD

Treasury Operations

ED (corp. Functionality)

A & AP

Financial services F b& RM D & LM S & BD

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T& ISP

Regulator y

S&C

Business Support

SWOT ANALYSIS
4.1. STRENGTHS

BRAND NAME:
J&K BANK has earned a reputation in market over the period of time.

WIDE DISTRIBUTION NETWORK: The bank has Excellent, penetration in the country with more than 500 branches & more than 3000 ATMs.

DIVERSIFIED PORTFOLIO: J&K BANK has all the products under its belt, which help it to extend the relationship with existing customer. Jammu & Kashmir BANK has umbrella of products to offer their customer, if once customer has relationship with the bank. Some products, which Jammu & Kashmir BANK is offering are Personal Loans, Car Loans, Housing Loans & Educational loans.
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GOVERNMENT OWNED: Government owns 50% stake in Jammu & Kashmir BANK. This gives Jammu & Kashmir BANK an edge over private banks in terms of customer security.

LOW TRANSACTION COST Jammu & Kashmir BANK offers very low transaction costs, which attracts small customers. 4.2. WEAKNESS The existing hierarchical management structure of the bank, although strength in some respects, is a barrier to change.

MODERNISATION: J&K BANK lags with respect to private players in terms of modernization of its process, infrastructure, centralization, etc.

4.3. OPPORTUNITIES J&K BANK is planning to increase its number of branches & ATMs within the country and they are also planning to go international, which will further increase its reach to its customers. Increasing trade & business relations & a large number of expatriate populations offer a great opportunity to expand on foreign soil.

4.4. THREATS

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Large numbers of MNC banks are mushrooming in the Indian market due to the friendly policies adopted by the government. This can increase the level of competition & prove a potential threat for the market share of Jammu & Kashmir BANK.

Consumers expectations have increased many folds in last few years & the bank has not been responsive enough to meet them on time.

Private Banks have started venturing in to the rural & semi urban sector, which used to the bastion of the State Bank & other Public Sector units.

5. ANALYSIS OF FINANCIAL STATEMENT


BUSINESS & PROFITABILITY During 2009-10, the bank recorded a (planned & directed) growth in all business sectors. Deposits recorded a growth of Rs.37237.16 Cr. For the FY 2010 from Rs.33004.10 Cr. For the FY2009, while reserves and surplus increased to Rs.2961.97 in FY 2011 from Rs2574.37 in FY 2010 and the advances increased from Rs.20941 Cr. In FY2010 to Rs23057.30 Cr in F 2011. Better liability management resulted in the bank mobilizing more demand and saving deposits than time deposits against overall trend in the industry. Net profit recorded an impressive increase of Rs.512.38 Cr. For FY2010 from Rs.409.83 Cr. In FY2009. The bank continued to create shareholder value, as a result of which earnings per share during 2009-10 increased to Rs.105.75 from Rs.84.54 in 2008-09, while the book value per share increased from 541.04 as on March, 2009 to Rs.621 as on March, 2010.

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6. LEARNING EXPERIENCE
The stay at Jammu and Kashmir bank was very informative and right platform for indigenous of various procedures and processes. It had an excellent exposure to all aspects of the industry. Though the duration of the in-plant training was short, I got an exposure to the various facets of banking at Jammu and Kashmir bank. The main objective of the in plant training was to have a particular knowledge of real world business and a brief study of the related industry, organization , its background, nature and its working and analysis of the various product profiles of the organization.

For in plant training I visited the Jammu and Kashmir bank Srinagar Branch, and has learnt extensively about the industry, organization, its growth, prospects, about company its product, its mission, vision etc. also had a brief study on their various departments like marketing, financial and human resource. In the mean time and I also came across the companys different strategies. With the help 7s framework, I gained lot of knowledge about the integration and co-ordination of the various departments, at the same time SWOT analysis was carried out

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to understand the different variables governing the marketing aspects of Jammu and Kashmir bank. It was really a great experience to understand different functions and situations in the real life environment

7.1. GENERAL INTRODUCTION


A services delivery is set of principles, policies, standards and constraints used to guide the design, development, deployment, operation and retirement of the services delivered by the service provider with view to offering a consistent service experience to a specific user community in a specific business context. A services delivery is a context in which service providers capabilities are arranged into services.

7.1.1.STATEMENT OF THE PROBLEM


Services are activities, benefits or satisfaction which are offered for sale or provided in connection with sale of goods. The present study is basically to know about the services provided by the Jammu & Kashmir bank. The bank is facing tough competition through local and international banks that are currently the market leaders and hence it was necessary to make study on the effectiveness of the services provided by the bank to the customers. Thus the statement of my problem is to analyse the effectiveness of services provided by the Jammu & Kashmir bank.
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7.1.2. OBJECTIVES OF THE STUDY


To ascertain the effectiveness of the customer services delivery. To determine the customers services with the bank. To identify the services delivery gap of the bank. To suggest the measures to improve customer services delivery in Jammu & Kashmir bank.

7.1.3. SCOPE OF THE STUDY


The scope of the present study is restricted to analyse the effectiveness of the services provided by the bank. The parameters that are taken into consideration are bankers service competence thats their knowledge that they have about the services provided by the bank. There responsiveness thats willingness of the bankers to deliver the services to the customers effectively and efficiently. The banker should be able to understand the kind of service that customer is seeking from the bank while communicating with him because it will assist the banker in delivering the services required by the customer effectively. The banker should possess the good communication skill so that he could effectively communicate about the services that bank provides to the customers. This skill will also help in understanding the services required by the customer and will assist him in delivering those services effectively to the customers. By delivering this customer required services effectively it will help the bankers to build the cordial relation with the customers and this will lead to the customers loyalty with the bank and also they will hire other services that the bank provides to its customers.

8. RESEARCH METHODOLOGY
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8.1. Research Design Choice of research design: As I was interested in knowing the Effectiveness of service delivery of Jammu & Kashmir Bank through various parameters, a descriptive study had to be adopted by me. Determining the sources of data collection: The major source of my data was that of the primary data which was supplemented by secondary data also. After determining the sources of data collection my next step was to find methods of data collection. Methods of data collection: In case of primary data collection, methods that were used are as under:

Observation method. Questionnaire method. Interviewing method. Tele Calling. In case of secondary data, methods that were used are as:

Internet. Customer database given by Jammu & Kashmir Bank. Product pamphlets.

8.2. SAMPLING SAMPLE FRAME:-Customer Database provided by the Jammu & Kashmir Bank SAMLING TYPE:-Random Sampling SAMPLE SIZE:- I selected my sample size as 100 which was selected according to the area given to me by Jammu & Kashmir Bank and analytical feasibility, using the customer base provided by Jammu & Kashmir, Bank.

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8.3. LIMITATIONS OF THE STUDY


Study was conducted only with limited branches in Srinagar. The outcome cannot be generalized to the bank performance as a whole the study throws light on selected areas of service. The outcome does not reflect the customer perception with the banker with references to all the services. There was poor response from respondents as they were not comfortable with few questions in the questionnaire.

9. DATA INTERPRETATION AND INFERENCE


Table No 9.1: Table showing the satisfaction level of customers. S NO. Level of Satisfaction No. of Respondents %age

1) 2) 3) 4) 5)

Highly Satisfied Satisfied Partly Satisfied Not Satisfied Total

31 59 7 3 100

31 59 7 3 100

Interpretation: From the above table it is clear that

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1) 31% of respondents are highly satisfied with the services provided by the bank. 2) 59% of the customers are satisfied from the services that bank is providing them. 3) 7% of banks customers are partially satisfied by the services provided to them. 4) 3% of its customers are not at all satisfied about the services that the bank is providing them which is of concern for the bank in terms of its customer retention ship. Inference: From the above its clear that majority of the customers of the bank are satisfied by the services provided by the bank.

Graph No 9.1: Graph showing the satisfaction level of customers about services provided by the bank.
70

60

50

40 Series1 30

20

10

0 Highly satisfied Satisfied Partly Satisfied Not Satisfied

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Table no 9.2: Table showing the criteria used for evaluating the service quality of the bank. S No. Service Quality Creditability 1) Responsiveness 2) Competence 3) Access 4) Communication 5) 15 15 10 10 15 15 25 25 No. of Respondents % age 35 35

Interpretation: From the above it is clear that 1) 35%of the respondents consider creditability as first criteria for evaluating the services quality of the bank. 2) 25% consider responsiveness for evaluating the service quality of the bank. 3) 15% consider bankers competence for evaluating the service quality of the bank. 4) 10% considered access to the bank for evaluating the service quality of the bank.

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5) 15% respondents considered the communication skill is very important for evaluating the service quality of the bank

Inference: The above table shows that most of the customers consider the creditability as criteria for evaluating the services quality of the banker. GRAPH No 9.2: Graph showing the criterias used for evaluating the service quality of the bank.
40 35 30 25 20 15 Series1 10 5 0 creditability Responsiveness Competence Access Communication

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Table No 9.3: Table showing the respondents view about the best services in the bank. S No. Best services in the bank 1) 2) Prompt services Responsiveness of the banker 3) 4) Less waiting time Infra-structure facilities 28 12 28 12 33 27 33 27 No. of Respondents %age

Interpretation: From the above table its clear that 1) 33% of the banks respondents answered that prompt service is the field in which the bank is best. 2) 27% of respondents consider that the responsiveness of employees of the bank is best. 3) 28% of respondents answered that bank is best in availing the services to them with very less waiting time. 4) 12% of respondents answered that bank provides them the best infra-structure facilities that is required by the bank to deliver the service.

Inference:

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From the above table its clear that most of the customers of the bank said that the prompt services of the bank, is best among the rest of the services that bank provides.

Graph No 9.3: Graph showing the respondents view on the best services of the bank.
35 30 25 20 15 10 5 0 Prompt Service Responsiveness of the banker Less waiting time Infra-structure facilities Series1

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Table No 9.4: Table showing the respondents view on the occurrence of poor services in the bank. S No. Occurrence of poor service 1) 2) Total Yes No 17 83 100 17 83 100 No. of respondents % age

Interpretation: From the above it is clear that 1) 83% of the respondents said that the bank always provides them the best services. 2) 17% of the respondents said that the bank is providing little poor quality service.

Inference: From the above table its quite clear that majority of the customers said they didnt experience any poor services in the bank.

Graph No 9.4: Graph showing the response of the respondents on the occurrence poor service in the bank.

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Yes No

Table No 9.5: Table showing friendly personnels of the bank. S No. 1) 2) Best Employees Security Banker at receipt counter No. of respondents 8 12 % age 8 12

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3) 4) 5) 6) 7) 8)

Banker at cash counter Manager Asst. Manager Peon All None

18 22 28 4 5 3

18 22 28 4 5 3

Interpretation: From the above table it is evident that 1) 8% of the respondents feel that Security personals of the bank are friendly. 2) 12% of respondents feel that Banker at Receipt Counter are friendly. 3) 18% feel that Banker at the Cash Counter. 4) 22% respondents feel Bank Managers are friendly. 5) 28% feel Asst. Managers of the bank are friendly. 6) 4% of respondents feel that peons of the bank are friendly. 7) 5% feel every personal of the bank is friendly. 8) 3% of respondents feel there is no one friendly in the bank. Inference: From the above table it becomes clear that Asst-manager is the friendly persons in the bank. Graph No 9.5: Graph showing the respondents view on the friendly personnels of the bank.

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30

25

20

15 Series1 10

0 Security Banker atBanker at Manager Asst. receipt cah Manager counter counter Peon All None

Table No 9.6: Table showing waiting time strategies of bank. S No. Waiting time strategies 1) Newspaper 40 40 No. of respondents % age

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2) 3) 4) Total

Magazine Television Company Brochure

25 10 25 100

25 10 25 100

Interpretation: From the above table its clear that 1) 40% of respondents proposed that bank keeps them engaged with news papers so that they may not feel waiting time. 2) 25% respondents said that bank keeps them engaged by availing magazines. 3) 10% of respondents said bank keeps them engaged by having a television in the branch when they have to wait for the service. 4) 25% of respondents said that they are provided the brochure of the bank to check the various new inclusions in their services, while they are waiting for the services.

Inference: From the above table its clear that the most customers of the bank use the newspapers during their waiting time that is provided by the bank in order to make its customers feel at ease, when they are waiting for the service.

Graph No 9.6: Graph showing the response of respondents about the various waiting time strategies used by the bank.

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45 40 35 30 25 20 15 10 5 0 Newspaper Magazine Television Company Brochure Series1

Table No 9.7: Table showing the customers view on the lacking facilities of the bank. S No. Facilities lacking in No of respondents the bank % age

1)

Non-Availability of

28

28

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Banker 2) 3) 4) ATM-Problems Lack of Ambience Lack of Documents 32 35 5 32 35 5

Interpretation: From the above table its clear that 1) 28% responses were about non-availability of the banker. 2) 32% respondents said banks ATM facility is lacking. 3) 35% said ambience in the bank is lacking. 4) 5% said that there is lack of transaction documents in the bank.

Inference: From the above table it becomes clear that the most of the customers feel Ambience and ATM are the facilities that are lacking in the bank.

Graph No 9.7: Graph showing the customers view on the lacking facilities of the bank.

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40 35 30 25 20 Series1 15 10 5 0 Non-Availability of Banker ATM-problem Lack of Ambience Lack of Documents

Table No 9.8: Table showing customers view on the better parking facilities in the bank.
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S No.

Parking facilities in the bank

No of respondents

% age

1) 2) Total

Yes No

92 8 100

92 8 100

Interpretation: From the table it is clear that 1) 92% of respondents are satisfied with the parking facilities provided by the bank. 2) 8% of the respondents are not, satisfied by the parking facilities of the bank.

Inference: From the above table its quite clear that majority of the customers feel that bank do provide them the better parking facility.

Graph No 9.8: Graph showing does the bank has better parking facilities.

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No 8%

Yes 92%

Table No 9.9: Table showing the customers view on the knowledge level of bankers.
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S No

Knowledge level of Bankers

Nos. of Respondents 32 38 22 8

% age

1) 2) 3) 4)

Excellent Good Fair Bad

32 38 22 8

Interpretation: 1) From the above table its clear 2) 32% of respondents expressed their response in favour of the excellent knowledge level that the employees of the bank have. 3) 38% of respondents considered the knowledge level of the employees is good 4) 22% of the respondents gave their response in favour of the employees having fair level of knowledge. 5) 8% assumed the knowledge level of the bankers being bad which, can be of little concern for the bank.

Inference: The above table represents that the knowledge level of the employees of the bank is good.

Graph No 9.9:

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Graph showing the respondents grading of the knowledge level of bankers.


40 35 30 25 20 Series1 15 10 5 0 Excellent Good Fair Bad

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Table No 9.10: Table showing the customers view on the service competence of the banker. S No Service competence of the bankers 1) 2) 3) 4) Excellent Good Acceptable Un-acceptable 42 28 23 7 42 28 23 7 Nos. of Respondents % age

Interpretation: From the above table its clear 1) 42% of respondents answered that the service competence of the employees is excellent. 2) 28% said the service competence of the employees is good 3) 23% said service competence of the employees acceptable 4) 7% said the service competence of bankers is not acceptable.

Inference: From the above table its quite clear that majority of the customers said that the service competence of the banker is excellent.

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Graph No 9.10: Graph showing the customers view on the service competence of the bankers.
45 40 35 30 25 20 15 10 5 0 Excellent Good Acceptable Unacceptable Series1

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Table No 9.11: Table showing the presence of service delivery gap in the bank. S No Presence of service delivery gap 1) 2) Yes No 17 83 17 83 Nos. of Respondents % age

Interpretation: From the above table we observe that 1) 83% of the banks customers feel there is no delivery gap in the services rendered by the bank. 2) 17% respondents answered that there is delivery gap in the services of the bank.

Inference: From the above graph its clear that most of the customers feel there is no delivery gap in the services delivered by the bank.

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Graph No 9.11: Graph showing the presence of service delivery gap in the bank.

Yes No

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Table No 9.12: Table showing customers view on the in-effective services of the bank. S No In-effective services of the bank 1) 2) 3) Credit Card Facilities Net Banking Loan Facilities 56 28 16 56 28 16 Nos. of Respondents % age

Interpretation: From the above table its clear 1) 56% of respondents said the credit card facility is the in-effective service in the bank. 2) 28% respondents replied that net banking is in-effective service in the bank. 3) 16% respondents answered that loan facilities are in-effective which is little higher than it should have been.

Inference: From the above graph its clear that majority of the customers feel that credit card facilities and net banking services are the in-effective services in the bank.

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Graph No 9.12: Graph showing response of the customers about the in-effective services of the bank.
60

50

40

30 Series1 20

10

0 Credit Card Facilitiies Net Banking Loan Facilities

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Table No 9.13: Table showing the kind of services availed by the customers of the bank. S No Customer taken services 1) 2) 3) 4) S.B A/C Current A/C Locker Facility Loan Facility 36 33 16 15 36 33 16 15 Nos. of Respondents % age

Interpretation: From the above table its clear 1) 36% of respondents were holding savings bank account. 2) 33% of respondents were holding current bank account. 3) 16% of the respondents were also using the locker facility from the bank. 4) 15% of respondents said they were also using the loan facilities provided by the bank.

Inference: From the above graph its quite clear that most of the customers of the bank are availing only savings and current bank account.

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Graph No 9.13: Graph showing the various services availed by the customers of the bank.
40 35 30 25 20 15 10 5 0 S.B A/C Current A/C Locker Facility Loan Facility

Series1

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Table No 9.14: Table showing the customers view on the friendly services of the bank. S No Availability of the friendly services in the bank 1) 2) Yes No 92 8 92 8 Nos. of Respondents % age

Interpretation: From the above table we find that 1) 92% customers of the bank, agree that bank provides them friendly services to them. 2) 8% of customers say that the bank doesnt provide any friendly service to the customers.

Inference: The above graph shows that most of the customers of the bank agree with the fact that bank, provides them friendly service which is a positive point for the banks long term business and development. The small percentage which, consider the bank does not provide any friendly services to them needs to be consulted and make them feel the services delivered are friendly.

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Graph No 9.14: Graph showing does the bank provides friendly services.

Yes No

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10. SUMMARY OF FINDINGS


1) The report revealed that some customers of the bank are not satisfied by the services of the bank. 2) There was less response about Access to the bank is used as criteria for evaluating the quality of services in the bank. 3) The report also revealed that customers were treated friendly by the bankers whenever they come in the bank for availing services or for any other purpose. 4) There was only little percentage (12%) of customers who said the infra-structural facilities, of the bank is good. 5) There report also revealed that some customers of the bank said that they have experienced poor services in the bank. 6) Majority of the customers (38%) said that the knowledge level of the employees is good. 7) The report also revealed the existence of delivery gap in the services of the bank. 8) Only (10%) of the customers said the T.V as the best waiting time strategy used by the bank. 9) There was very less response about the other employees in the bank being friendly with customers. 10) The report revealed that about 7% of the customers of the bank said that service competence of the banker is un-acceptable. 11) Majority of the customers (92%) said bank provides them better parking facility. 12) The report revealed that most of the customers said Ambience and ATM services of the bank are the facilities that are lacking in the bank.

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11. SUGGESTIONS
From the analysis of the collected data, it is found that customers in banks expect a quick and quality service which the bank can offer without much financial burden. The

following are suggestions, which can be considered for improving the quality of service, and improve the level of satisfaction to the banking customers. 1) The bank is doing good in its area of operation which is revealed by the customer base of the bank, but the bank should consider the ways which will take them to more higher levels of growth and profitability and at the same time focus on improving the effectiveness of the loan and locker facilities of the bank. 2) The banker should properly identify the needs and wants of its customers and suggest to them the services that satisfies there need, to improve the satisfaction level of the customers towards the services offered by the bank. 3) The employees who are new to the organization should be trained regularly so that they get accustomed with the banking operation that will lead in the effective functioning of overall banking operations. 4) The bank should search for latest information technology available for their bank, so that it can be implemented to improve the quality of technology based services. 5) The bank needs to find out the causes behind the in-effective services, such that these services can be created in such am manner that they will work according to customers perception about that particular service of the bank.

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12. CONCLUSION
Privatization, the liberalization and globalization are important contemporary forces. Only those enterprise can survive, which work economically and effectively, providing customer-oriented service and using the latest technology. Today, Government owned bodies, particularly in India, are not providing customer satisfaction services, though they have a very huge infrastructure of large base. The truth of this observation becomes obvious when we observe the performance of public sector bank in India, inefficiencies of the public sector banks. Within few years, private sector banks have set a blistering pace of growth, easily beating the growth rate of public sector banks. The base for these private banks is very small, but their share in the total net profit of banking system is disproportionately high. The study has been conducted with the Jammu & Kashmir bank which is a state owned bank. In the competitive market economy, firms can survive only if it could assess the needs of the customer well in advance and meet the same in time. A customer in banking industry expects a good service, which can be fulfilled well only when the banker identifies what the customer needs. With the advent of science and technology, the banks started to offer techno-oriented services and also use this to out beat the competitors. Thus this study to some extent threw the ideas of customers expectation and how the same has been fulfilled by the Bank under study. To conclude, the bank which acts as one of the main facilitator in removing the hindrances of commerce and trade can become an effective, economic and efficient facilitator, through offering a qualitative and quick service to their customers. This will enable not only the customer to meet his needs but also the company as a whole.

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BIBLIOGRAPHY
Websites: 1. www.jammuandkashmir.com 2. www.google.com 3. www.rbi.org

Books: Research Methodology Services Marketing Services Marketing Services marketing Marketing Management Marketing Research Money Banking and Finance (G.C Beri, McGraw Hill Publication) (S M Jha Himalaya Publications, 6th revised edition 2003) (Dr Natrajan, Mergham Publication) (Zeithamal, Bitner, Mcgraw Hill Publication, fifth Edition) (Phillip Kotler, Prentice Hall- Gale. 1999) (C.R Kothari, New Age International Publishers) (S.K Sinha, Bsc Publishers and co. 2009)

Journals and magazines: 1. India Today. 2. Business today. 3. Economic times.

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ANNEXURE

Please co-operate to fill this Questionnaire Questionnaire for customers: Name: - --------------------------------------------------------Address --------------------------------------------------------Telephone No ----------------------------------------------Email ID-----------------------------------------------------Age: - --------------------------------------------------------Sex ---------------------------------------------------------------

1. What is your level of satisfaction about the services provided by the Bank? a) Highly satisfied b) Satisfied c) Partly satisfied d) Not satisfied

2. Which of the following you consider best in the bank a) Prompt service

b) Responsiveness of the banker


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c) Less waiting time

d) Infrastructure facilities

3. How do you rate the knowledge level of the bankers about various schemes of the bank ? a) Excellent

b) Good

c) Acceptable

d) Fair

4. Have you encountered with following problems in the bank a) Waiting in the queue b) Unpleasant behaviour of the bankers c) Poor infrastructure d) Poor response of the banker

5. Are you being treated as value customer of the bank? a) Yes b) No

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6. Which of the following personnel of the bank treat you friendly a) Security b) Banker at receipt counter c) Banker at cash counter d) Bank Manager e) Asst. Bank Manager f) Peon g) All h) None

7. Has there been any service encounter that you had in the bank a) Yes b) No

8. Is there any difference between the services promised and services delivered a) Yes b) NO

9. How does the bank keep you occupied while you are waiting for the service

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a) Newspaper b) Magazine c) Television d) Company brochure

10. Have you come across any lack of facilities during the service in the bank a) Non availability of banker b) ATM Problem c) Lack of ambience d) Lack of transaction documents

11. Does the bank provide parking facilities? a) Yes b) No

12. Which of the following you consider for evaluating the services quality of the bank a) Creditability b) Responsiveness c) Competence d) Access e) Communication

13. How do you consider the service competence of the banker

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a) Excellent b) Good c) Acceptable d) Unacceptable

14. Does the banker provide customer friendly service a) Yes b) No Your suggestions please -----------------------------------------------------------------------------------------------..Thank you for your co-operation

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