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The document discusses the 7 Ps of marketing in Indian banks and the attributes or Cs that banks consider when evaluating customers. It outlines the key elements of product, price, promotion, place, people, process, and physical evidence that banks use in their marketing. It also describes the characteristics a bank examines in a customer, including character, capacity, collateral, conditions, capital, creditworthiness, competition, capacity to repay, and being courteous. Finally, it provides a table comparing the features of different types of bank accounts for non-resident Indians including NRE, NRO, and FCNR accounts.
The document discusses the 7 Ps of marketing in Indian banks and the attributes or Cs that banks consider when evaluating customers. It outlines the key elements of product, price, promotion, place, people, process, and physical evidence that banks use in their marketing. It also describes the characteristics a bank examines in a customer, including character, capacity, collateral, conditions, capital, creditworthiness, competition, capacity to repay, and being courteous. Finally, it provides a table comparing the features of different types of bank accounts for non-resident Indians including NRE, NRO, and FCNR accounts.
The document discusses the 7 Ps of marketing in Indian banks and the attributes or Cs that banks consider when evaluating customers. It outlines the key elements of product, price, promotion, place, people, process, and physical evidence that banks use in their marketing. It also describes the characteristics a bank examines in a customer, including character, capacity, collateral, conditions, capital, creditworthiness, competition, capacity to repay, and being courteous. Finally, it provides a table comparing the features of different types of bank accounts for non-resident Indians including NRE, NRO, and FCNR accounts.
(i) PRODUCT - product' satisfies the needs and wants of customers. (ii) PRICE - The price' of the product is fixed in the form of interest, service charges and other fees to cover transaction costs, overheads, risk premium and to generate a reasonable surplus for the bank (iii) PROMOTION -promotion' includes all publicity vehicles that aim at customer information, education and image building. (iv) PLACE - place' of a branch, he said suitable location and convenience determine the choice of a bank by a customer. A bulk of the banking business for any branch should come from its immediate neighbourhood (v) PEOPLE - a team of motivated and dedicated staff with positive attitudes in favour of business development and offering high service quality will make the bank the most preferred one for the customers. (vi) PROCESS- processes' in providing banking services, systems and procedures are viewed as vehicles for the delivery of customer satisfaction.Hence, banks keep on refining or reinventing or re-engineering their systems and procedures to keep managing customers' ever increasing expectations (vii) PHYSICAL EVIDENCE - will help evaluate the service before its purchase and to assess the customers' comfort zone with the service during and after consumption. The conditions like lighting, temperature, noise and colour create favourable perceptions among customers.
(B) Cs of Banking Attributes of a Customer (i) Character: The bank assesses the trustworthiness of candidates for character. Factors for character criteria are: business experience and knowledge, personal and/or small business credit history, references, and education. (ii) Capacity: The business and individual's ability to pay back the small business credit determines capacity. Bankers will review the cash flow of the business and determine alternative courses of repayment available. (iii) (iv) Collateral:To reduce the risk of lending, collateral in various forms of assets can act as another method of repayment. Collateral would include: equipment, real estate, inventory, account receivables, and securities.
A personal guarantee (signed document) can be required as an additional reassurance of repayment. Obtaining small business credit and providing guarantees may seem troubling, but the bank really does not want to exercise its position on seizing and liquidating assets. In most cases, the banker will work diligently to find payment solutions. Conditions: This is a review of the small business credit or loan conditions in terms of use for expansion or buying equipment. This also applies to the external environment that impact a company's ability for repayment such as: customer base, competitors, liabilities, and economics. (v) Capital: A business owner's investment into their own company sends a message of confidence in the business and the ability to repay the small business credit or loan. Net- worth and equity are the two key financials used. Ultimately, a business owner unwilling to invest their own funds in the company will often find banks are unwilling to take the first risk. (vi) Creditworthiness (vii) Competition (viii) Capacity to Repay (ix) Curteous ( C) Accounts NRE NRO FCNR (B) Purpose of account To park overseas savings remitted to India after converting to Rupees To park overseas savings remitted to India after converting to Rupees and Indian earnings To park overseas savings without converting into Rupees Currency Rupees Rupees USD, EURO, GBP, CAD, JPY, AUD Minimum Balance Rs. 1,000 Rs. 1,000 USD 1000 or equivalent Type of account Savings, Current, TDR ,STDR Savings, Current, TDR, STDR TDR, STDR Investment Term Min: 1 Year Max: 10 Years Min: 7 Days Max: 10 Years Min: 1 Year Max: 5 Years Joint Holding Only with NRIs Both with Resident and NRIs Only with NRIs Repatriability of Principal Freely Repatriable Up to USD 1 million (Conditional) Freely Repatriable Repatriability of Interest Freely Repatriable Freely Repatriable subject to deduction of tax Freely Repatriable Taxability in India Interest income tax free in India Interest income is taxed as per India Income Tax Rules. Reduced tax under Double Tax Avoidance Agreement Interest income tax free in India