Online Banking

ONLINE SB ACCOUNT APPLICATION
pg. 1

EXECUTIVE SUMMARY
The banking sector in India has made remarkable progress since the
economic reforms in 1991. New private sector banks have brought the
necessary competition into the industry and spearheaded the changes
towards higher utilization of technology, improved customer service and
innovative products. Customers are now becoming increasingly conscious of
their rights and are demanding more than ever before. The recent trends
show that most banks are shifting from a product-centric model to a
customer-centric model as customer satisfaction has become one of the
major determinants of business growth. In this context, prioritization of
preferences and close monitoring of customer satisfaction have become
essential for banks. Keeping these in mind, an attempt has been made in
this study to analyze the factors that are essential in influencing the
investment decision of the customers of the public sector banks. For this
purpose, Factor Analysis, which is the most appropriate multivariate
technique, has been used to identify the groups of determinants. Factor
analysis identifies common dimensions of factors from the observed
variables that link together the seemingly unrelated variables and provides
insight into the underlying structure of the data. Secondly, this study also
suggests some measures to formulate marketing strategies to lure
customers towards banks.
Online SB account application was a new concept for both bank and
customers. There were lacks of awareness about using this new
product. So, I was instructed to train the staff as well as to open as
many account in four branches of SBI namely Patna secretariat (code
pg. 2

153), Frazer road (code 3476), Patna city (code 1423), Patliputra (code
1513). Under the guidance of Mr. Arun Kumar, I was able to instruct
both the staff and customer regarding online SBI account application.
257 online saving accounts were opened by me for the customers
during this tenure.

pg. 3

INTRODUCTION
A bank is a financial institution whose primary activity is to act as a payment
agent for customers and to borrow and lend money. It is an institution for
receiving, keeping, and lending money.
An organization, usually a corporation, chartered by a state or federal
government, which does most or all of the following: receives demand
deposits and time deposits, honors instruments drawn on them, and pays
interest on them; discounts notes, makes loans, and invests in securities;
collects checks, drafts, and notes; certifies depositor's checks; and issues
drafts and cashier's checks.
Banking is business receiving for lending or investment, of deposits of
money, from public repayable on demand or otherwise and which draw able
by cheque, draw and order. In general terms, Banking is the Process of
business activity of accepting and safeguarding money owned by other
individuals and entities, and then lending out this money in order to earn a
profit.
Banks play very important role in the economic life of the nation. The health
of the economy is closely related to the soundness of its banking system.
Although banks create no new wealth but their borrowing, lending and
related activities facilitate the process of
production, distribution, exchange and consumption of wealth. In this way
they become very effective partners in the process of economic development.
Today, modern banks are very useful for the utilization of the resources of
the country. The banks are mobilizing the savings of the people for the
pg. 4

investment purposes. The savings are encouraged and saving rate increases.
If there would be no banks then a
great portion of a capital of the country would remain idle.
A bank as a matter of fact is just like a heart in the economic structure and
the Capital provided by it is like blood in it. As long as blood is in circulation
the organs will remain sound and healthy. If the blood is not supplied to any
organ then that part would become useless. So if the finance is not provided
to Agriculture sector or industrial sector, it will be destroyed. Loan facility
provided by banks works as an incentive to the producer to increase the
production.
Bank provides necessary funds for executive program in the process of
economic development. They collect savings of large masses of people
scattered throughout the country, which is the absence of bank world have
remained idle and unproductive. These amounts are collected, pooled
together and made available to commerce and industry for meting the
requirement. This provides finance for successfully carrying on various
stages of production as well as distribution.
Bank stimulate the habit of savings amount people by the security and
interest they offer with these savings which are deposited by people are in
position to utilize the deposited amount more productively. The bank
increased the transaction capacity of the customers by advancing loans
when they require for additional funds to finance their expanded program of
transaction. In short, the economic development of a particular country
depends on the sound banking system.
pg. 5

Banking is also important to business because businesses deposit their
extra money here. This way their money is not only safe but also earns
interest for them. On the other hand, businesses can borrow money from
banks when they need to invest in business. Apart from that Banks also act
as guarantee giver in case of creditors and suppliers.

pg. 6

PRODUCT AND SERVICES OFFERS BY BANK
Deposits: A bank accepts deposits from the public. People can deposit their
cash balances in either of the following accounts to their convenience:-
Fixed Deposit Account: Cash is deposited in this account for a fixed
period. The depositor gets receipts for the amount deposited. It is
called Fixed Deposit Receipt. The receipt indicates the name of the
depositor, amount of deposit, rate of interest and the period of deposit.
This receipt is not transferable. If the depositor stands in need of the
amount before the expiry of fixed period, he can withdraw the same
after paying the discount to the bank.
Savings Account: This type of deposit suits to those who just want to
keep their small savings in a bank and might need to withdraw them
occasionally. Banks provide a certain rate of interest on the minimum
balance kept by the depositor during the month.
Current Account: This type of account is kept by the businessman
who are required to withdraw money every new and then. Banks do
not pay any interest on this account. Any sum or any number of
withdrawals can be presented by such an account holder

pg. 7

OBJECTIVES OF THE STUDY
To understand the scope of SB account application by SBI bank.
To understand how to improve the online SB account application of
SBI bank.
To understand how to improve conversion period towards direct cash
transfer scheme by SBI.
To study the improve the efficacy.
To know the brand and advertisement influence on customers about
SBI bank.

SCOPE OF THE STUDY
The study basically tries to identify the customers are satisfied with their
services of SB account application and their scope among SBI bank and
other banks and know about the Customer preferences among SBI bank.
The study was done to individual customer restricted to the city of Patna.

pg. 8

RESEARCH METHODOLOGY
The methodology used in conducting the research work on SBI Bank with
major emphasis on its working capital Management involves the following
steps:
Why I have selected SBI Bank only?
I have selected SBI Bank for my summer training because it is the company
that is growing day by day. It has maximum market share with comparison
to its competitors. And it is the company that gives highest business.

Defining the problem and deciding research objectives:
Defining the objective is the most important part of any study process.
Proper defining of the problem is a must for proceeding further with the
research process. The type of study to be carried out, the questions to be
raised, the sampling procedure to be followed, and the data to be collected,
all depends on a correct understanding of the problem. Also, by clearly
focusing on the real problem, the research job can be simplified and
completed with the minimum cost, effort and data.

Identified problem or the objectives of the research discussed in the
report are:
1. Developing the research plan:

In this a plan was developed about how to collect the require information i.e.
whom to contact for gathering the relevant data. Data is the foundation of
all research. It is the raw material with which a researcher functions.
pg. 9

Therefore, it requires great care to select the sources of data. Data, or facts,
may be obtained from several sources. Data sources can either be primary
or secondary.

A. Secondary data:

The sources from which secondary data was collected:
Press releases of the company.
Newsletters and In-house journals.
Brochures and detailed descriptive leaflets
Magazines like Business World, Outlook, Auto India, etc.
Websites such as www.sbi.co.in, www.google.com. These were the
sources from which secondary data has been gathered. Most of the
information presented in this report was extracted from the above
data sources.

B. Primary data:
Collection of primary data was conducted by visiting the people
personally for the preparation of the report.
2. Research approach:
It means the way by which the information was collected. Visiting the
various places of Patna, getting the questionnaire filled by different
individuals.
pg. 10

Beside this, frequent visit to the showrooms of the company was of great
help to conduct the analysis and research work.
3. Contact methods:
Instrument or Data collected Forms: It is the method by which data is
gathered. It could be done through various instruments like questionnaires,
observations, getting information from the staff members of the agency,
contacting to the motor mechanics was sufficient enough to conduct the
study.

4. Collection of Information:
The primary information was collected by face-to-face and direct interviews
with the peoples and the customers. They provide the relevant information
regarding the profile of the company as compared to the other company in
the Indian market. Most employees suggested visiting companys web site,
as it was not possible for them to spare time from their busy schedules.

The secondary sources of information were various web sites of the
companies, newspapers & magazines such as the times of India, The
Hindustan Times, Business world, Auto India, etc.

5. Analyzing the information:
The data collected was carefully analyzed. The research and analysis of the
information has been done on the basis of various sales and marketing
strategies adopted by the company during its tenure.
pg. 11

6. Reporting and conclusions and recommendations:
This is the most vital part of the work undertaken. After collection and
analysis of data, it was recorded in the form as prescribed. The major part of
the report is the findings. The finding also includes charts, tables and
diagrams etc. The report also mentioned the limitations of the project
undertaken. Then conclusion has been drawn out of the findings and
various recommendations have been given at the end of the report. Certain
tables on the basis of which the findings were made have been included in
the appendices section followed by the bibliography.

pg. 12

COMPANY PROFILE OF SBI

Pure Banking Nothing Else

pg. 13

HISTORY OF SBI:-
The origins of State Bank of India date back to 1806 when the Bank of
Calcutta (later called the Bank of Bengal) was established. In 1921, the
Bank of Bengal and two other Presidency banks (Bank of Madras and Bank
of Bombay) were amalgamated to form the Imperial Bank of India. In 1955,
the controlling interest in the Imperial Bank of India was acquired by the
Reserve Bank of India and the State Bank of India (SBI) came into existence
by an act of Parliament as successor to the Imperial Bank of India.
Today, State Bank of India (SBI) has spread its arms around the world and
has a network of branches spanning all time zones. SBI's International
Banking Group delivers the full range of cross-border finance solutions
through its four wings - the Domestic division, the Foreign Offices division,
the Foreign Department and the International Services division.
State Bank of India (SBI) is the largest bank in India. If one measures by
the number of branch offices and employees, SBI is the largest bank in the
world. Established in 1806 as Bank of Calcutta, it is the oldest commercial
bank in the Indian subcontinent. SBI provides various domestic,
international and NRI products and services, through its vast network in
India and overseas. With an asset base of $126 billion and its reach, it is a
regional banking behemoth. The government nationalized the bank in 1955,
with the Reserve Bank of India taking a 60% ownership stake. In recent
years the bank has focused on three priorities, 1), reducing its
huge staff through Golden handshake schemes known as the Voluntary
Retirement Scheme, which saw many of its best and brightest defect to the
pg. 14

private sector, 2), computerizing its operations and 3), changing the attitude
of its employees (through an ambitious programme aptly named 'Parivartan'
which means change) as a large number of employees are very rude to
customers.

Bank of Bengal H.O.
Roots:-
The State Bank of India traces its roots to the first decade of
19th century, when the Bank of Calcutta, later renamed the Bank of Bengal,
was established on 2 June 1806. The government amalgamated
Bank of Bengal and two other Presidency banks, namely, the Bank of
Bombay (incorporated on 15 April 1840) and the Bank of Madras on 27
January 1921, and named the reorganized banking entity the Imperial Bank
of India. All these Presidency banks had been incorporated as joint stock
companies, and were the result of the royal charters. The Imperial Bank of
India continued as a joint stock company. Until the establishment of a
central bank in India the Imperial Bank and its early predecessors served as
India's central bank, at least in terms of issuing the currency. The State
Bank of India Act 1955, enacted by the Parliament of India, authorized the
Reserve Bank of India, which is the central banking organization of India, to
pg. 15

acquire a controlling interest in the Imperial Bank of India, which was
renamed the State Bank of India on 30 April 1955.

Bank of Madras
Timeline:
June 2, 1806: The Bank of Calcutta established.
January 2, 1809: This became the Bank of Bengal.
April 15, 1840: Bank of Bombay established.
July 1, 1843: Bank of Madras established.
1861: Paper Currency Act passed.
January 27, 1921: all three banks amalgamated to form Imperial
Bank of India.
July 1, 1955: State Bank of India formed; becomes the
first Indian bank to be nationalized.
1959: State Bank of India (Subsidiary Banks) Act passed,
enabling the State Bank of India to take over eight former
State-associated banks as its subsidiaries.
pg. 16

1980s When Bank of Cochin in Kerala faced a financial crisis,
the government merged it with State Bank of
India.
June 29, 2007: The Government of India today acquired the entire Reserve
Bank of India (RBI) shareholding in State Bank of India (SBI),
consisting of over 314 million equity shares at a total amount of over 355
billion rupees.

Bank of Bombay

Associate banks:
There are seven other associate banks that fall under SBI. They all use the
"State Bank of India" name followed by the regional headquarters' name.
These were originally banks belonging to princely states before
the government nationalized them in 1959. In tune with the first Five Year
Plan, emphasizing the development of rural India, the
government integrated these banks with the State Bank of India
to expand its rural outreach. The State Bank group refers to the seven
pg. 17

associates and the parent bank. All the banks use the same logo of a blue
keyhole. Currently, the group is merging all the associate banks into SBI,
which will create a "mega bank", and one hopes, streamline operations and
unlock value.
1. State Bank of Bikaner & Jaipur
2. State Bank of Hyderabad
3. State Bank of Indore
4. State Bank of Mysore
5. State Bank of Patiala
6. State Bank of Saurashtra

State Bank of India Mumbai LHO
Foreign Offices:
State Bank of India is present in 32 countries, where it has 131
branches serving the international needs of the bank's foreign customers,
and in some cases conducts retail operations. The focus of these offices is
India-related business.

pg. 18

SBI Office in UK
Growth:
State Bank of India has often acted as guarantor to the Indian
Government, most notably during Chandra Shekhar's tenure as Prime
Minister of India. With more than 12240 branches and a further 8000+
associate bank branches, the SBI has extensive coverage. Following its arch-
rival ICICI Bank, State Bank of India has electronically
networked most of its metropolitan, urban and semi-urban branches under
its Core Banking System (CBS), with over 4500 branches being incorporated
so far. The bank has the largest ATM network in the country
having more than 21000 ATMs. The State Bank of India has had
steady growth over its history, though the Harshad Mehta scam in 1992
marred its image. In recent years, the bank has sought to
expand its overseas operations by buying foreign banks. It is the only Indian
bank to feature in the top 100 world banks in the Fortune Global 500 rating
and various other rankings. According to the Forbes 2000 listing it tops all
Indian companies.
Fortune Global 500 Ranking 2010:
pg. 19

SBI debuted in the Fortune Global 500 at 363 ranks in 2009. In 2010 it
moved up to 283. As per fortune 500-2010 following are the data for SBI in
$ million. Revenues 28212.8. Profits 2473.3,Assets 323043.9.Stockholders'
equity 18519.8 and no of employees are 200,299.
Corporate Details:
This site provides comprehensive information on State Bank of India or SBI Bank,
the premier Nationalized Indian Bank. State Bank of India is actively involved since
1973 in non-profit activity called Community Services Banking.
State Bank of India is India's largest bank amongst all public and private sector
banks operating in India. State Bank of India owns and operates the following
subsidiaries and Joint Ventures -
State Bank Of India Credit Card
State Bank Of India Online
State Bank Of India USA
State Bank Of India Services
State Bank Of India Mutual Funds
State Bank Of India Branch
Banking Subsidiaries:
State Bank of Bikaner and Jaipur (SBBJ)
State Bank of Hyderabad (SBH)
State Bank of Indore (SBI)
State Bank of Mysore (SBM)
State Bank of Patiala (SBP)
State Bank of Saurashtra (SBS)
State Bank of Travancore (SBT)
pg. 20

Foreign Subsidiaries:
State bank of India International (Mauritius) Ltd.
State Bank of India (California).
State Bank of India (Canada).
INMB Bank Ltd, Lagos.
Non- banking Subsidiaries:
SBI Capital Markets Ltd (SBICAP)
SBI Funds Management Pvt Ltd (SBI FUNDS)
SBI DFHI Ltd (SBI DFHI)
SBI Factors and Commercial Services Pvt Ltd (SBI FACTORS)
SBI Cards & Payments Services Pvt. Ltd. (SBICPSL)
Performance:
During the year, the Company recorded a total turnover of Rs 129.78 billion
(US $ 2.89billion),export turnover of Rs 11.42 billion (US $ 0.25 billion),
import turnover of Rs 0.38 billion (US$ 8.46 million) and domestic turnover
of Rs 117.98 billion (US $ 2.63 billion).As at March31, 2010, the Company
had advances outstanding of Rs 30,298 million (US $ 674.79 million),of
which the export outstanding stood at Rs 1,955 million (US $ 43.54 million),
import outstanding at Rs 99 million (US $ 2.20 million) and domestic
outstanding at Rs 28,244 million (US $ 629.04 million). Gross NPAs stand at
Rs 6,352 million (US $ 141.47 million) and Net NPAs stand at Rs 5,068
million (US $ 112.87 million). The amount to be transferred to Reserve Fund
is Rs 13.16 million (US $ 0.29 million).

pg. 21

Summary of Financial Results

2011-12
(in Rs. Mn.)

2010-11*
(in Rs. Mn.)

Total Turnover

1,29,781

1,82,825
Domestic
Turnover

1,17,977

1,55,562
International
Turnover

11,804

27,263
Advances
Outstanding

30,294

45,139

Total Income
4,931

6,765

Profit Before Tax

108

1,850
Profit After Tax

66

1,219

pg. 22

State Bank of India offers following product & services to
customers:-
SBI has every product for every need. Listed below are some of its major
products and services.
1. Personal Banking:

Personal banking is similar to retail banking. The essence is that the
products and services of the bank are tailored to meet individual banking
and ancillary needs, including everything from a checking account to
investment advice.

A. Deposit schemes
a) Current Account: Minimum Account Opening Balance is Rs 10,000/-
Current Accounts are non interest bearing accounts.
Most Important Terms & Conditions
Overdraft facility available based on credit history
Free ATM / Debit Card in the 1
st
year; charge from 2
nd
year onwards.
No restrictions on number of Payments / Withdrawals
No interest paid on Deposits
pg. 23

Transfer of account to any branch possible
Account maintenance charge applicable
No Passbook is issued but Statement of account is issued
Nomination facility available
KYC Norms of RBI to be followed for opening of Account
b) Saving & Deposit Account:
Savings With Cheque Book
Minimum account opening balance: Rs 5,000/-
Interest payable on the daily closing balance subject to a minimum of Rs
10,000/- and is credited to the account monthly.
Savings without Cheque Book
Minimum Account Opening Balance: Rs 1,000 Interest Paybale on the
minimum daily closing balance subject to a minimum of Rs 2,000/- and is
credited to the account monthly.
Savings remain liquid, safe and earn interest
Interest calculated on daily product basis
Charges applied in case of non-maintenance of Average
Quarterly Balance (AQB)
Nomination facility available
Passbook issued to account holders
Cheque Book / ATM Cards available free of cost in the 1
st

year.Charge from 2
nd
year onwards.

pg. 24

c) Term Deposits
Minimum Account Opening Balance Rs 50,000/- Interest is payable
Quarterly, Yearly or at Maturity, at the option of the depositor. A fixed
deposit can be used as Security for your loans and Overdraft facilities. Retail
Department a) Savings & Current Administration including Account
Opening, Cheque Book Issue, Standing Instruction Monetary, Interbank
Transfer, Cheque Clearing etc. b) Term Deposits section including account
opening and interest payment etc.
2. Personal finance

a) Housing Loan

A home loan is a secured loan that borrowers obtain in order to purchase a
home. Because a home is the largest purchase many individuals will ever
make, most borrowers utilize home loans to assist with their home
purchase.
SBI Home Loans come to you on the solid foundation of trust and
transparency built in the tradition of State Bank of India.
SBI Offers three types of Home Loan for its customers
SBI Easy Home Loan
Loan amount upto 30 lacs
pg. 25

Interest rate: Present effective rate being 9.75% p.a.
SBI Advantage Home Loan
Loan amount above 30 lacs and upto 75 lacs
Interest rate: Present effective rate being 10% p.a.
SBI Premium Home Loan
Loan amount above 75 lacs and upto 5 crore
Interest rate: Present effective rate being 10% p.a.
b) Car Loan

A Loan which is sanctioned for the purchase of an automobile is known as
car loan.
SBI Offers two types of car Loan for its customers:
SBI Easy Car Loan
Loan amount : Maximum Loan amount will be 2.5 times of net annual
income. Spouses income could also be considered provided the spouse
becomes a co-borrower in the loan. Loan amount below Rs. 5 lacs will cover
under the scheme.
Interest rate : Present effective rate being 9.25% p.a
SBI Advantage Car Loan
Loan amount : There is no upper limit for the amount of a car loan. A
maximum loan amount of 4 times the net annual income can be sanctioned.
pg. 26

Spouses income could also be considered provided the spouse becomes a
co-borrower in the loan.
Interest rate : Present effective rate being 11% p.a
c) Education Loan

A term loan granted to Indian Nationals for pursuing higher education in
India or abroad where admission has been secured.
Loan Amount : For studies in India, maximum Rs. 10 lacs
Studies abroad, maximum Rs. 20 lacs
Interest Rate : Upto 4 lacs 12%
Above 4 lacs and upto 7.5 lacs 13.50%
Above 7.5 lacs 12.50%

3. Services:
State Bank of India offers a wide range of services in the Personal Banking
Segment which are indexed here.

pg. 27

a) ATM Services

State Bank offers you the convenience of over 21,000 ATMs in India, the
largest network in the country and continuing to expand fast! This means
that you can transact free of cost at the ATMs of State Bank Group and
wholly owned subsidiary viz. SBI Commercial and International Bank Ltd.,
using the State Bank ATM-cum-Debit (Cash Plus) card.
KINDS OF CARDS ACCEPTED AT STATE BANK ATMs :
Besides State Bank ATM-Cum-Debit Card and State Bank International
ATM-Cum-Debit Cards following cards are also accepted at State Bank
ATMs: -
1) State Bank Credit Card.
2) Cards issued by other banks displaying Maestro, Master Card, Cirrus,
VISA and VISA Electron logos.
3) All Debit/ Credit Cards issued by any bank outside India displaying
Maestro, Master Card, Cirrus, VISA and VISA Electron logos.
State Bank ATM-cum-Debit (State Bank Cash plus) Card:
India's largest bank is proud to offer you unparalleled convenience viz.
State Bank ATM-cum-Debit (Cash Plus) card. With this card, there is no
pg. 28

need to carry cash in your wallet. You can now withdraw cash and make
purchases anytime you wish to with your ATM-cum-Debit Card.

Get an ATM-cum-Debit card with which you can transact for FREE at any of
over 21,000 ATMs of State Bank Group within our country.
Transaction Limits: Daily limit of Rs 40,000/- at the ATM
Daily limit of Rs 50,000/- at Point of Sale (POS) terminal for debit
transactions
Combined daily limit of Rs 90,000/-
b) INTERNET BANKING

www.sbionline.com, the Internet banking portal of our bank, enables its retail
banking customers to operate their accounts from anywhere anytime, removing the
restrictions imposed by geography and time. It's a platform that enables the
customers to carry out their banking activities from their desktop, aided by the
power and convenience of the Internet. Using Internet banking services, you
can do the following normal banking transactions online:
pg. 29

Funds transfer between own accounts.
Third party transfers to accounts maintained at any branch of SBI
Group Transfers to accounts in State Bank Group
Inter Bank Transfers to accounts with other Banks
Online standing instructions for periodical transfer for the above
Credit PPF accounts across branches
Request for Issue of Demand Draft
Request for opening of new accounts

Request for closure of Loan Accounts

c) E-RAIL

Book your Railways Ticket Online
The facility has been launched wef Ist September 2003 in association with
IRCTC. The scheme facilitates Booking of Railways Ticket Online.
d) Mobile Banking
pg. 30

State Bank Freedom Your Mobile Your Bank
Away from home, balance enquiries can be made and/or money sent to the
loved ones or bills can be paid anytime 24x7!!! That is what State Bank
Freedom offers -convenient, simple, secure, anytime and anywhere banking.
The following functionalities are available:
Funds transfer (within and outside the bank)
Interbank Mobile Payment Services (IMPS)
Enquiry services (Balance enquiry/ Mini statement)
Cheque book request
Demat Enquiry Service
Bill Payment (Utility bills, credit cards, Insurance premium),
Donations, Subscriptions
Mobile Top up
M Commerce (Top up of Tatasky, BigTV, SunDirect, DishTV
connections and receive recharge pins for DigitalTV/Videocon d2h,
SBI life insurance premium).

pg. 31

e) Safe Deposit Locker

For the safety of your valuables, we offer safe deposit locker facility at a
large number of our branches. There is a nominal annual rent, which
depends on the size of the locker and the centre at which the branch is
located. The rent is payable in advance for the Financial Year. A copy of the
locker agreement regarding operation of the locker can be provided to the
locker hirer at the time of allotment of the locker.
1. Annual rental is payable in advance.
2. Rental depends on the size of the lockers and location of the branch via
metro/urban or semi-urban/rural
3. One time registration charges for all center is also levied.
4. KYC norms are applicable for locker hirers.
5. Lockers cannot be allotted to minors either singly or jointly with others.

pg. 32

E) Pension Plan:
Increasing life expectancy rate, rising health care costs, absence of social
security system in India and disintegration of joint family system are some
of the key reasons that makes retirement planning very critical.
To help you continue celebrating your life post-retirement to the fullest, SBI
Life presents you an array of pension plans which are simple and innovative.

a) SBI Life Life Long Pension Plus:

SBI Life - Lifelong Pension Plus is a unique individual non participating
traditional pension plan, which gives you total safety and security while
offering you complete transparency and flexibility. This Plan is a perfect way
for you to accumulate your savings and purchase an annuity with it, a time
of your choice, to give you regular income. You would agree that all this will
surely give you a secure future, and a joyous retirement.
Key Features:
You have complete freedom to avail of a Pure Pension option or get the
added advantage of insurance protection.
Complete Transparency: You will know how your premiums are
growing each step of the way. At the end of each financial year, the
fund will be credited with investment income based on the investment
return earned.
pg. 33

Guaranteed Additions of 10% of Annual Premium on 15th policy
anniversary & 10% of Annual Premium on every 5th policy
anniversary thereafter in case of Regular Premium policy whereas for
Single Premium policy, 1% of Single Premium on 15th policy
anniversary & 1% of Single Premium on every 5th policy anniversary
thereafter.
b) SBI Life Smart Pension:

SBI Life -Smart Pension, a unit linked deferred pension plan.With the
changing social and economic environment, shifting individual and family
needs, it is advisable to follow a dynamic retirement planning process to
improve the probability of success of your retirement plan.
A unit linked deferred pension plan, which offers you the flexibility to
provide for all your retirement goals at one go or as per your convenience,
spread over a period of time. Whats more, it provides you a minimum
guaranteed return on the gross premiums paid.
Key Features:
Enjoy the benefit of guaranteed amount at maturity.
Option to avail pension by paying only one single premium.
Phase your retirement income - You have an option to take multiple
single premium Policies, at lower costs.
pg. 34

F) Health Plan:
Financial planning is incomplete without planning health insurance. Due to
todays hectic lifestyle, improper diet, lack of exercise we are at higher risk of
contingencies of untimely serious illnesses. Sudden health problems could
have deep hole in your pockets. Medical science has advanced by leaps and
bounds in the last few decades. Theres a definite need to cover for health
insurance to reduce the financial burden.

a) SBI Life Hospital Cash:

Good health is the most valuable asset that we have, but nowadays with
increasing levels of stress, negligible physical activity and changing lifestyle
our vulnerability to diseases is increasing at an alarming pace.
The cost of healthcare is rising everyday and more than the cost of your
treatment, indirect costs like - hospital room rent, nursing expenses, post
discharge expenses, recuperating expenses, ambulatory charges etc account
for a major part of the overall cost incurred. Lack of sufficient savings or a
suitable health policy may force you to compromise on the quality of medical
treatment. We feel you certainly deserve better.
SBI Life - Hospital Cash is a comprehensive plan that covers not only
pg. 35

hospitalization expenses but also other incidental costs. This plan offers you
complete freedom from worries.
Key Features:
100% payout from day one of hospitalization without any deductible.
Guaranteed coverage up to 75 years.
Coverage of Pre-existing diseases after 2 years.
Enhanced sum assured and increased payouts on each policy
anniversary in case of No claim.

5. DEMAT SERVICES:
State Bank of India, which is countrys largest public sector bank, is
certainly the most preferred choice of crores of Indians. It provides the
facility where you can trade online through demit accounts since this
account is one of the prerequisites to start with any kind of trading.
SBI Demat account brokerage charge:
SBI Demat account brokerage charges vary depending on the amount
which one puts in. There are various types of brokerages as well.
SBI Demat account turnover per month versus brokerage rates are-
Turnover Brokerage
0 5 lakh 0.50%
5 10 lakh 0.45%
10 25 lakh 0.40%
25 50 lakh 0.35%
50 75 lakh 0.30%
75 lakh 2 Crore 0.25%
2 Crore and above 0.15%

pg. 36

SBI Demat account turnover versus brokerage rates for Intraday trading
are-
Turnover Brokerage
< 25 lakh 0.15%
25 50 lakh 0.12%
50 lakh 1.5 Crore 0.10%
1.5 3 Crore 0.08%
3 6 Crore 0.07%
6 10 Crore 0.06%
Above 10 Crore 0.05%
6. CUSTOMER RELATATION SERVICES:
The SBI customer care service is probably the best customer service offered
by various banks in India and across the world. The SBI customer care
service is presumably the most excellent in comparison to other banks. The
bank through its customer service deals with all kinds of difficulties faced by
the clients in relation to the banking services offered by SBI. The customer
care executive pay attention to the problems put out by the bank customers
and provides them with an applicable and relevant solution to their doubts
concerning the bank products and services. The SBI always aims for
providing necessary assistance and information to its clients and attempts
to cater to all the banking needs regarding the highest quality of its services.
SBI has a 24 hour customer care helpline specially devoted to entertain all
the queries, suggestion and problems etc. put up by the banks customers.
One can dial up the customer care helpline and esquire about any of the
product and services including that on the home loan and other offered by
the bank. One can also get information about the terms and conditions laid
down by the bank about the various services and products offered by the
bank.
pg. 37

AWARDS & RECOGNITIONS

Adjudged, Bank of The Year 2009, India by The Banker b Magazine for
the second year in succession.
Awarded Best Bank - Large, and Most Socially Responsible Bank
from Business World Best Bank Awards 2009.
The Bank bagged the BEST BANK 2009 Award by Business India.
Adjudged the Most Trusted Brand 2009 - Economic Times, Brand
Equity.
Bagged the awards for Most Preferred Bank, Most Preferred Credit
Card and Most Preferred Home Loan Brand from CNBC AWAAZ
Consumer Awards, Sept 09.
Awarded Visionaries of Financial Inclusion Year 2009 by Financial
Information Network & Operations Ltd.
Awarded Technology Bank of the Year in recognition of outstanding
achievements in banking technology IBA Banking Technology
Awards 2009.
pg. 38

Selected as the winner of Golden Peacock National Training Award for
the year 2009 by the Golden Peacock Awards Jury.
Awarded the Strongest Banks in Asia Award 2010 for the Asia- Pacific
region under The Asian Banker Excellence in Retail Financial Services
Awards 2010.
Awarded the Best Microfinance Award for 2009 under The Asian Banker
Excellence in Retail Financial Services Awards 2010.

pg. 39

ONLINE SB ACCOUNT
Online Savings Bank Account Application for Resident Individuals
Submit Info Online Visit Branch with Docs Your Account
Opened Expeditiously
1. Savings Bank Online Account Application Process In Brief
You may fill up an application online for opening a Savings Bank
account. The process in brief would be as follows:
2. Fill up and submit the required details online.
3. Print the Account Opening Form (AOF) on A4 size white papers.
4. Attach the required documents, such as photographs and proof of
identity and address, as mentioned in the AOF.
5. A TCRN (Temporary Customer Reference Number) will be generated,
which please note down. TCRN will also be sent on the registered
mobile number of the applicant(s).

2. Benefits
Convenience:
The AOF can be filled at your convenience and fields that can be
validated are checked for errors.
Quick:
Time taken for opening of the account at the branch will get reduced
as the data will already be available in the system.
Safety:
The data will
3. Information That You Will Need to Provide
For opening an account, you need to provide the following information:
KYC (Know Your Customer) information: The acceptable KYC
documents are available through drop down menu in the AOF.
Information about the Savings Bank account you wish to open and the
facilities you would want in the account.
pg. 40

Form 60, if you do not have Permanent Account Number (PAN) of
Income Tax.
Form DA-1 (optional), if you wish to make a nomination
(recommended).
4. Documents That You Will Need to Provide
For each person who wishes to open the account, you will need to provide:
2 Recent passport-size colored photographs.
KYC documents as mentioned in the AOF.
If you give photocopies, please produce the original documents for
verification when you visit our branch.

5. Step-by-Step Account Opening Process
Step 1: Fill the Customer Information Section
This section will have to be filled for each person wishing to open the
account.
You must fill Part A first. Once you fill Part A and save the form, a
Temporary Customer Reference Number (TCRN) will be generated
which may please be noted. You will need it later to edit the form, if
you desire, and to link the customer in the Account Opening Form.
Subsequent parts in this step can be filled only after you have
successfully filled Part A.
Step 2: Fill the Account Information Section
Part A: Type of Account and Services Required.
Part B: Nomination Form (optional but recommended).
Note:
This section will have to be filled for each account that you wish to
open.
You must fill Part A first. Once you fill Part A and save the form, a
Temporary Account Reference Number (TARN) will be generated which
may please be noted. You will need it later to edit or print the form.
Subsequent parts in this step can be filled only after you have
successfully filled Part A.
pg. 41

After successful filling up of data in the account opening form, an SMS
notification will be sent to 1st applicant's mobile number along with the
TARN.
Step 3: Read the Savings Bank Rules
Please read these rules carefully before signing the account opening
form. By applying to the Bank for opening the account, you would be
confirming that you have read the rules and that you agree to abide by
these. A print of the same can also be taken by you after generation of
TARN.
6. FAQ's
START NOW

pg. 42

DATA ANALYSIS & INTERPRETATION
Q1. On which bank you depend for your regular transaction?

( ) No. of People
SBI 60 % (1200)
ICICI 33 % (660)
HDFC 5% (100)
OTHER 2% (40)
TOTAL NO. OF PEOPLE 2000

It has been observed that approximately 60% correspondents are using the
service of SBI for their daily transaction, around 33% of people are using
ICICI Bank for their transaction and only 5% & 2% of people are using
HDFC & other Bank service respectively in Bhubaneswar. It also shows that
SBI have the highest market position in Bhubaneswar as per my sample.
60%
33%
5% 2%
RESPONSES OF PEOPLE IN %
SBI
ICICI
HDFC
OTHER
pg. 43

Q2. Are you aware of Product & Services offered by SBI?

YES

85% (1700)
NO 15% (300)
Total No. of People 200

From the above data it is clear that most of the customers (around 85%) of
Bhubaneswar have the idea about the Product & Services of SBI, the rest
15% have the idea about the product they are using. In this 15% most of the
people are from typical rural area (Farmers).

YES
85%
NO
15%
pg. 44

Q3. Are you aware of the Online SB account application of SBI?

YES 91%(1900)
NO 9% (100)

It is clear that most of the people have the idea about the advance product of
SBI. Almost all the 95% people who have the idea about the Online SB
account application user of SBI product & service.

91%
9%
% OF PEOPLE
YES
NO
pg. 45

Q4. Which bank you prefer for taking these services?

SBI
75% (1800)

ICICI 5% (140)
HDFC 14% (40)

OTHER 6% (20)

According to my sample size 85% of people prefer SBI for Online SB
account application Services, but some people prefer ICICI, HDFC or
OTHER Bank for loan because they are working with that bank & it is easier
for them to get loan from their bank & it easier for them to pay the interest
because it is less as compare to other bank because they are the employee of
that bank.
75%
5%
14%
6%
Sales
SBI
ICICI
HDFC
OTHER
pg. 46

Q5. If you prefer SBI for taking Online SB account application Services
than what influence you to take Loan from SBI?

Most of the people said that they prefer SBI for taking Online SB account
application Services because of the transparency and the lowest interest rate
for any kind of transaction. And it is easy to get loan from SBI as compare to
other bank because less paper work is require and as it is the largest govt.
bank in India and having partnership with RBI (Reserve Bank of India) and
other association, it is easier for SBI to give loan to people with a longer
repayment period.

pg. 47

Q6. What do you feel about the services providing by SBI For Merchant
for doing payment purchasing of goods?
Bad 5% (0)
Satisfactory

8% (40)
Good

50% (1100)
Excellent

37% (860)
TOTAL NO. OF PEOPLE

200

From this it is clear that the service provide by SBI in its advance product is
good in between the customer. All of them satisfy with the product provide
by SBI. 55% of people said that the service provide by SBI is good & 43%
said it is excellent & just 2% of people said that it is satisfactory.
5%
8%
50%
37%
CUSTOMER PERCEPTION TOWARDS THE SERVICE PROVIDE
BY SBI IN ADVANCE PRODUCT
BAD
SATISFACTORY
GOOD
EXCELLENT
pg. 48

Q8. Which features you like most in Online SB account application of
SBI?
LESS PAPER WORK 3% (6)
ATTRACTIVE INTEREST RATE 35% (70)
TRANSPARENCY 20% (40)
SIMPLE AND FAST PROCESSING 2% (4)
LONGER REPAYMENT PERIOD 40% (80)

Most of the people like the attractive interest rate & longer repayment
period. Its easier for people to repay the whole loan amount with its interest
with low interest rate and with longer repayment period.
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
LESS PAPER WORK ATTRACTIVE
INTEREST RATE
TRANSPARENCY SIMPLE & FAST
PROCESSING
LONGER
REPAYMENT
PERIOD
FEATURES LIKE BY CUSTOMER
pg. 49

FINDINGS
From this project it is found that online SBI account application is a new
concept for both the customers as well as concerned staff members.
It has been observed that at present approximately 55% of people are
opening their saving account through online mode. But in coming days
this percentage is going to increase.
Online SB account application helps in opening of account in less time
in comparison to offline mode. Hence more customers can be
approached through this.
Customers do not need to stand for longer time period in a queue for
opening of saving account as it can be opened online within 2 to 3
minutes.
Major benefits of online SB account applications are safety, convenience,
and quicker in approach.
Online saving account can be opened for individual, jointly or for
maximum of three persons.
Online saving account can be opened by customers itself also by filling
the forms through internet and submitting it to the nearest branch in
which he or she wants to open the account.
Provision of zero balance account is available in this.
Incentives for concerned staff as well as for branch manager is also kept
for opening online SB account application.
Hilsa branch is on the top by opening the maximum number of online
SBI account application. On the other hand there are still some
branches in far flung areas where this facility is not available.
A satisfactory response was received from customers for online SBI
account application as they praise for convenience, safety and speedy
process.

pg. 50

REASONS FOR HIGHLY USE OF SBI ADVANCE PRODUCT:
LESS PAPER WORK
NO HIDDEN CHARGES
TRANSPARENCY
SIMPLE & FAST PROCESSING
LONGER REPAYMENT PERIOD
QUICK PROCESSING

pg. 51

SUGGESTION & RECOMMENDATION
Customer needs to inform about online saving A/c on the mass level.
The concerned saving a/c, staff shall be trained to open the saving a/c
through online mode.
Sometime INB saver link is disconnected. Thats needs to be checked
in order to provide 24 hour service.
Standalone internet along with guidance staff should be provided in
all branch of SBI for opening saving account through online mode.
A banner showing detailed step wise process of open online say a/c
must be put up in all branches.
A separate person must be present to guide the customers regarding
online SB account application for opening saving account.
Good Incentives must be given to concerned person for opening of
saving account through online mode.At present it is very low.
If possible the concerned person should directly approach the
customer so that customer may save time of visiting the branch.
Bank may take the help of nearest cyber caf for filling forms of online
saving account for those customers who cannot open their account by
themselves. This will also make this process speedy so that more
number of customers can be approached in shorter time.
Bank can do some internship programs in various management
colleges to make this scheme popular.
SBI must take feedbacks of customers regarding their views and
convenience for online SB account application.
pg. 52

CONCLUSION
From the analysis part it can be conclude that customers have a good
respond towards SBI Online SB Account Application in Patna. SBI is in 1st
position having large number of customers & providing good services to
them. The bank has a wide customer base, so the bank should concentrate
on this to retain these customers.
In present scenario SBI is the largest SBI Online SB Account Application
Provider issuer in India. Within a very short period of time the achievement
made by SBI is excellent, what a normal bank cannot expect, but it is being
done by SBI. It happens due to employee dedication towards the
organization, fastest growing Indian economy, & brand image.
To be the largest advance product issuer, SBI should focus on-
Launch Innovative product
Customized advance products
Better customer services

pg. 53

pg. 54

QUESTIONNAIRE
Name - _____________________________________
Occupation-__________________________________
Contact Detail -_______________________________
Q. On which bank you depend for your regular transaction?
a) SBI
b) ICICI Bank
c) HDFC Bank
d) Other Bank, Specify (_____________)
Q. Are you aware of products & services provided by SBI?
a) YES
b) NO
Q. If yes are you aware of the Online SB Account Application services of SBI?
a) YES
b) NO
Q. Which bank you prefer for taking this services?
a) SBI
b) ICICI Bank
c) HDFC Bank
d) Other Bank, Specify (_____________)
Q. What do you feel about the services providing by SBI in Online SB
Account Application?
a) Bad
b) Satisfactory
pg. 55

c) Good
d) Excellent

Q. Which features you like most in Online SB Account Application of
SBI?
a) Less paper work
b) Attractive interest rate
c) Transparency
d) Simple & fast processing
e) Specially design product for self employed
f) Any other feature, specify ( _____________ )

Q. Any suggestion you want to give for the betterment of SBI Online SB
Account Application.
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
__________________________________________________________________________.

pg. 56

pg. 57

BIBLIOGRAPHY:

Text Books:
Solomon, Michael R. (2002), Consumer Behavior: Buying, Having, Being. 5th Ed.
New Jersey: Prentice Hall

Wilson A. (2003), Marketing Research: An Integrated Approach

Naresh Ku. Malhotra, Marketing Research: An Applied Orientation, Fifth Edition

Internet:
www.google.co.in
www.sbi.com
www.sbi.co.in
www.bnet.com

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