Project Report

On
CUSTOMERS SATISFACTION LEVEL AND THEIR
PERCEPTION TOWARDS
CURRENT ACCOUNTS OF HDFC BANK

Submitted in partial fulfilment of the requirement for the award of
degree of
Master of Business Administration
Session 2013-2015

Under the supervision of: Submitted by:
Mr. Manpreet Singh Ayush Sharma
(HOD) MBA 2
nd
Year

Roll No. 391310

Modern Institute of Engineering & Technology, Mohri

2

ACKNOWLEDGEMENT
I would like to thank Mr. Manpreet Singh in M.I.E.T for his support to carry this project and I
am also thankful to him.
Last but not the least; I would like to thank all the Department Heads who participated in the
project without which the project would have been nothing in terms of value and worth. I
sincerely hope my work would come up to the expectations of all those who are concerned and
will be of some practical help

Ayush Sharma









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TABLE OF CONTENTS
S No. Index of Contents Page No.
1. Chapter- 1 Introduction
The Industry
Background
Swot
Competition Information
Introduction Of The Topic
06-45
06-09
10-17
18-19
19-22
23-44
2. Chapter -2 Literature Review 45-48
3. Chapter -3 Research Methodology
Objectives
Research Design
Collection Of Data
Tools for analysis
Limitation
49-53
50
50-51
51
52
53
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4. Chapter- 4 Analysis And Interpretation
4.1: Customer Profiles of Surveyed Respondents.
4.2 Time period of stay in HDFC Bank
4.3 Major attraction of the bank
4.4 HDFC Bank is providing satisfaction to customers.
4.5 Product of current account you prefer the most.
4.6 current account recommendation of HDFC Bank to others
4.7 Knowledge about extra services being provided by the bank.
4.8 Extra benefits asked by respondents from bank
4.9 Prompt services whenever visit to the branch.
4.10 Preference of other bank over HDFC Bank.
4.11 Overall satisfaction rating with HDFC Bank current account.
54-65
55
56
57
58

59

60
62
63
64
5. Chapter- 5 Findings, Conclusion & Suggestions
Findings and Learning
Suggestions
Conclusion
66-81
67-68
69
70
6. Bibliography 71-72
7. Annexure 73-76



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Chapter - 1
Company
Introduction












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INTRODUCTION

1. INTRODUCTION TO BANKING INDUSTRY
1.1 BANK
Finance is the life blood of trade, commerce and industry. Now-a-days, bank money acts as the
backbone of modern business. Development of any country mainly depends upon the banking
system.
The term bank is derived from the French word Banco which means a Bench or Money
exchange table.
A bank is a financial institution which deals with deposits and advances and other related
services. It receives money from those who want to save in the form of deposits and it lends
money to those who need it.
Oxford Dictionary defines a bank as "an establishment for custody of money, which it pays out
on customer's order."

1.1.1Features of a Bank:

1. Dealing in Money
Bank is a financial institution which deals with other people's money i.e. money given by
depositors.

2. Individual / Firm / Company
A bank may be a person, firm or a company. A banking company means a company which is in
the business of banking.

3. Acceptance of Deposit
A bank accepts money from the people in the form of deposits which are usually repayable on
demand or after the expiry of a fixed period. It gives safety to the deposits of its customers. It
also acts as a custodian of funds of its customers.

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4. Giving Advances
A bank lends out money in the form of loans to those who require it for different purposes.

5. Payment and Withdrawal
A bank provides easy payment and withdrawal facility to its customers in the form of cheques
and drafts, It also brings bank money in circulation. This money is in the form of cheques, drafts,
etc.

6. Agency and Utility Services
A bank provides various banking facilities to its customers. They include general utility services
and agency services.

7. Profit and Service Orientation
A bank is a profit seeking institution having service oriented approach.

8. Connecting Link
A bank acts as a connecting link between borrowers and lenders of money. Banks collect money
from those who have surplus money and give the same to those who are in need of money.

9. Banking Business
A bank's main activity should be to do business of banking which should not be subsidiary to
any other business.

10. Name Identity
A bank should always add the word "bank" to its name to enable people to know that it is a bank
and that it is dealing in money.





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1.2 INTRODUCTION TO HDFC BANK

1.2.1 HDFC BANK
HDFC Bank Limited is a major Indian financial services company based in India, incorporated
in August 1994, after the Reserve Bank of India allowed establishing private sector banks. The
Bank was promoted by the Housing Development Finance Corporation, a premier housing
finance company (set up in 1977) of India. HDFC Bank has 1,725 branches and over 5,000
ATMs, in 780 cities in India, and all branches of the bank are linked on an online real-time basis.
The headquarters of HDFC Bank is in Mumbai, India. And its area served is worldwide.


Organizational Goals
HDFCs main goals are to:
a) Develop close relationships with individual households
b) Maintain its position as the premier housing finance institution in the country,
c) Transform ideas into viable and creative solutions.
d) Provide consistently high returns to shareholders.
e) To grow through diversification by leveraging off the Existing client


1.2.2 Subsidiaries of HDFC Bank consist of:
1. HDFC Bank
2. HDFC Mutual Fund
3. HDFC Standard Life Insurance Company
4. HDFC Realty
5. HDFC Chubb General Insurance Company Limited.
6. Credit Information Bureau (India) Limited
7. Other Companies Co Promoted by HDFC
a) HDFC Trustee Company Ltd.
b) GRUH Finance Ltd
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c) HDFC Developers Ltd.
d) HDFC Venture Capital Ltd.
e) HDFC Securities Ltd
f) HDFC Holding Ltd.

HDFC BANK LIMITED Background of HDFC Bank
BACKGROUND
The Housing Development Finance Corporation Limited (HDFC) was
amongst the first to receive an 'in principle' approval from the Reserve
Bank of India (RBI) to set up a bank in the private sector, as part of
RBI's liberalization of the Indian Banking Industry in 1994. The bank
was incorporated in August 1994 in the name of 'HDFC Bank Limited',
with its registered office in Mumbai, India. HDFC Bank commenced
operations as a Scheduled Commercial Bank in January 1995.

PROMOTER
HDFC is India's premier housing finance company and enjoys an impeccable track record in
India as well as in international markets. Since its inception in 1977, the Corporation has
maintained a consistent and healthy growth in its operations to remain the market leader in
mortgages. Its outstanding loan portfolio covers well over a million dwelling units. HDFC has
developed significant expertise in retail mortgage loans to different market segments and also
has a large corporate client base for its housing related credit facilities. With its experience in the
financial markets, strong market reputation, large shareholder base and unique consumer
franchise, HDFC was ideally positioned to promote a bank in the Indian environment.


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BUSSINESS FOCUS
HDFC Bank's mission is to be a World Class Indian Bank. The objective is to build sound
customer franchises across distinct businesses so as to be the preferred provider of banking
services for target retail and wholesale customer segments, and to achieve healthy growth in
profitability, consistent with the bank's risk appetite. The bank is committed to maintain the
highest level of ethical standards, professional integrity, corporate governance and regulatory
compliance. HDFC Bank's business philosophy is based on four core values: Operational
Excellence, Customer Focus, Product Leadership and People.

AMALGAMATION OF TIMES BANK & CENTURION BANK OF
PUNJAB WITH HDFC BANK


On May 23, 2008, the amalgamation of Centurion Bank of Punjab with HDFC Bank was
formally approved by Reserve Bank of India to complete the statutory and regulatory approval
process. As per the scheme of amalgamation, shareholders of CBOP received 1 share of HDFC
bank for every 29 shares of CBOP.
The merged entity will have a strong deposit base of around Rs1, 22,000 crore and net advances
of around Rs89, 000 crore. The balance sheet size of the combined entity would be over Rs1,
63,000 crore. The amalgamation added significant value to HDFC Bank in terms of increased
branch network, geographic reach, and customer base, and a bigger pool of skilled manpower.

In a milestone transaction in the Indian banking industry, Times Bank Limited (another new
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private sector bank promoted by Bennett, Coleman & Co. / Times Group) was merged with
HDFC Bank Ltd., effective February 26, 2000. This was the first merger of two private banks in
the New Generation Private Sector Banks. As per the scheme of amalgamation approved by the
shareholders of both banks and the Reserve Bank of India, shareholders of Times Bank received
1 share of HDFC Bank for every 5.75 shares of Times Bank.

DISTRIBUTION NETWORK
HDFC Bank is headquartered in Mumbai. As on December 31, 2009, the Bank has a network of
1725 branches in 771 cities across India. All branches are linked on an online real-time basis.
Customers in over 500 locations are also serviced through Telephone Banking. The Bank's
expansion plans take into account the need to have a presence in all major industrial and
commercial centres, where its corporate customers are located, as well as the need to build a
strong retail customer base for both deposits and loan products. Being a clearing / settlement
bank to various leading stock exchanges, the Bank has branches in centres where the NSE / BSE
have a strong and active member base.
The Bank also has a network of 3898 ATMs across India. HDFC Bank's ATM network can be
accessed by all domestic and international Visa / MasterCard, Visa Electron / Maestro, Plus /
Cirrus and American Express Credit / Charge cardholders.






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Management Structure of HDFC Bank
Name Designation
C M Vasudev Chairman / Chair Person
Harish Engineer Executive Director
Renu Karnad Director
Pandit Palande Director
Bobby Parikh Director
Aditya Puri Managing Director
Paresh Sukthankar Executive Director
Ashim Samanta Director (up to 18.11.2012)
Partho Datta Director
Anami N Roy Director
Mr. Keki Mistry Director
Vijay Merchant Director (appointed on 14.03.2013)

TECHNOLOGY
HDFC Bank operates in a highly automated environment in terms of information technology and
communication systems. All the bank's branches have online connectivity, which enables the
bank to offer speedy funds transfer facilities to its customers. Multi-branch access is also
provided to retail customers through the branch network and Automated Teller Machines
(ATMs).
The Bank has made substantial efforts and investments in acquiring the best technology
available internationally, to build the infrastructure for a world class bank. In terms of core
13

banking software, the Corporate Banking business is supported by Flexcube, while the Retail
Banking business by Finware, both from i-flex Solutions Ltd. The systems are open, scaleable
&web-enabled.

The Bank has prioritised its engagement in technology and the internet as one of its key goals
and has already made significant progress in web-enabling its core businesses. In each of its
businesses, the Bank has succeeded in leveraging its market position, expertise and technology
to create a competitive advantage and build market share.

BUSINESS PROFILE
HDFC Bank caters to a wide range of banking services covering commercial and investment
banking on the wholesale side and transactional / branch banking on the retail side. The bank has
three key business segments:
Wholesale Banking
The Bank's target market is primarily large, blue chip manufacturing companies in the Indian
corporate sector and to a lesser extent, small & mid-sized corporates and agro-based businesses.
For these customers, the Bank provides a wide range of commercial and transactional banking
services, including working capital finance, trade services, transactional services, cash
management, etc. The bank is also a leading provider of structured solutions, which combine cash
management services with vendor and distributor finance for facilitating superior supply chain
management for its corporate customers. Based on its superior product delivery / service levels
and strong customer orientation, the Bank has made significant inroads into the banking consortia
of a number of leading Indian corporates including multinationals, companies from the domestic
business houses and prime public sector companies. It is recognized as a leading provider of cash
management and transactional banking solutions to corporate customers, mutual funds, stock
exchange members and banks.

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a) Treasury
Within this business, the bank has three main product areas - Foreign Exchange and Derivatives,
Local Currency Money Market & Debt Securities, and Equities. With the liberalization of the
financial markets in India, corporates need more sophisticated risk management information,
advice and product structures. These and fine pricing on various treasury products are provided
through the bank's Treasury team. To comply with statutory reserve requirements, the bank is
required to hold 25% of its deposits in government securities. The Treasury business is
responsible for managing the returns and market risk on this investment portfolio.

b) Retail Banking
The objective of the Retail Bank is to provide its target market customers a full range of
financial products and banking services, giving the customer a one-stop window for all his/her
banking requirements. The products are backed by world-class service and delivered to
customers through the growing branch network, as well as through alternative delivery channels
like ATMs, Phone Banking, Net Banking and Mobile Banking.

Mission and Business Strategy
Our mission is to be "a World Class Indian Bank", benchmarking ourselves against international
standards and best practices in terms of product offerings, technology, service levels, risk
management and audit & compliance. The objective is to build sound customer franchises across
distinct businesses. Our business strategy emphasizes the following:
Increase our market share in Indias expanding banking and financial services industry
by following a disciplined growth strategy focusing on quality and not on quantity and
delivering high quality customer service.
Leverage our technology platform and open scale able systems to deliver more products
to more customers and to control operating costs.
15

Maintain our current high standards for asset quality through disciplined credit risk
management.
Develop innovative products and services that attract our targeted customers and address
inefficiencies in the Indian financial sector.
Continue to develop products and services that reduce our cost of funds.
Focus on high earnings growth with low volatility.

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PRODUCTS AND SERVICES


1) PERSONAL BANKI NG SERVI CES

A) Account s & Depos i t s
Savings Account
Regular Savings Account
Savings plus Account
Savings Max Account
Senior Citizens Account
Payroll Salary Account
Regular Salary Account
Kid's Advantage Account
Pension Saving Bank Account
Family Savings Account

Current Account
Plus Current Account
Trade Current Account
Premium Current Account
Regular Current Account
Apex Current Account
Max Current Account

B) Loans
Personal Loans
Home Loans
Two Wheeler Loans
New Car Loans
Overdraft against C

Loan against Securities
Loan against Property
Commercial Vehicle Finance
Working Capital Finance
Construction Equipment Finance

C) Investments & Insurance
Mutual Funds
Insurance
Bonds
Financial Planning
Knowledge Centre
Equities & Derivatives


D) Payment Services
Net Safe
Prepaid Refill
Bill Pay
Direct Pay
Visa Money Transfer
E-Monies Electronic Funds Transfer
Excise & Service Tax Payment


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E) Access Your Bank - One View
Instar Alerts
Mobile Banking


ATM
Phone Banking

2) WHOLESALE BANKING SERVICES
Funded Services
Non Funded Services
Value Added Services
Internet Banking
Clearing Sub-Membership
RTGS sub membership
Fund Transfer
ATM Tie-ups
Corporate Salary a/c
Tax Collection
Financial Institutions
Mutual Funds
Stock Brokers
Insurance Companies
Commodities Business
Trusts


3) NRI BANKING SERVICES
Rupee Saving a/c Rupee Current a/c
Rupee Fixed Deposits Foreign Currency Deposits
Accounts for Returning Indians

4) PAYMENT SERVICES
Net Safe Bill Pay
Insta Pay Direct Pay
Visa Money Online Donation
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SWOT
1.2.4 SWOT ANALYSIS
STRENGTH:
1) Right strategy for the right products.
2) Superior customer service vs. competitors.
3) Great brand image.
4) High degree of customer satisfaction.

WEAKNESSES:
1) Some gaps in range for certain sectors.
2) Customer service staff needs training.
3) Sectorial growth is constrained by low unemployment levels and competition for staff.

OPPORTUNITIES:
1) Profit margins will be good.
2) Could extend to overseas broadly.
3) Could seek better customer deal.
4) An applied research center to create opportunities for developing techniques to provide value-
added services.


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THREATS:
1) Legislation could impact.
2) Great risk involved.
3) Very high competition prevailing in the market.

1.2.5 COMPETITION INFORMATION
HDFC Banks main competitors are as follows:-
1) Axis Bank Ltd.
Axis Bank Limited, formerly UTI Bank, is a financial services firm that had begun operations in
1994, after the Government of India allowed new private banks to be established. The Bank's
Registered Office is at Ahmadabad and its Central Office is located at Mumbai. Axis Bank one
of the largest private sector financer in India for Agriculture loans.
2) ICICI Bank Ltd.
ICICI Bank Limited also known as Industrial Credit and Investment Corporation of India Bank is
the second largest financial service company headquartered at Mumbai, India. The Bank has a
network of 2,533 branches and 6,601 ATMs in India, and has a presence in 19 countries,
including India. ICICI Bank was established in 1994 by ICICI Limited, an Indian financial
institution, as a wholly owned subsidiary.
3) Kotak Mahindra.
The Kotak Mahindra group is a financial organization established in 1985 in India. It was
previously known as the Kotak Mahindra Finance Limited, a non-banking financial company. In
February 2003, Kotak Mahindra Finance Ltd was given the license to carry on banking business
24

by the Reserve Bank of India (RBI). Kotak Mahindra Finance Ltd. is the first company in the
Indian banking history to convert to a bank. Today it has more than 20,000 employees and Rs.
10,000 crore in revenue.
4) State Bank of India
State Bank of India (SBI) (is the largest Indian banking and financial services company (by
turnover and total assets) with its headquarters in Mumbai, India. It is state-owned. SBI provides
a range of banking products through its vast network of branches in India and overseas, including
products aimed at non-resident Indians (NRIs). The State Bank Group, with over 16,000
branches, has the largest banking branch network in India. SBI has 14 Local Head Offices and 57
Zonal Offices that are located at important cities throughout the country. It also has around 130
branches overseas.
5) Yes Bank Ltd.
YES Bank Limited is an Indian Bank, engaged in providing a range of banking and financial
services. The Banks business segments include Treasury, Corporate/Wholesale Banking, and
Retail Banking, Corporate Finance, Transaction Banking and a host of other Banking services. It
was founded by Rana Kapoor and his partner (Late) Ashok Kapur, with the duo holding a
collective financial stake of 27.16%.

6) IndusInd Bank
IndusInd Bank, which commenced operations in 1994, caters to the needs of both consumer and
corporate customers. Its technology platform supports multi-channel delivery capabilities. As on
June 30, 2013, IndusInd Bank had 530 branches, and 1003 ATMs spread across 380
geographical locations of the country. The Bank also has representative offices in London and
Dubai. The Bank believes in driving its business through technology. It enjoys clearing bank
status for both major stock exchanges - BSE and NSE - and major commodity exchanges in the
25

country, including MCX, NCDEX, and NMCE. IndusInd Bank on April 1, 2013 was included in
the NIFTY 50 benchmark index. IndusInd Bank also offers DP facilities for stock and
commodity segments.

7) ING Vysya
ING Vysya Bank Ltd is a global financial institution of Dutch origin offering banking,
investments, life insurance and retirement services. More than 84,000 ING employees server
over 61 million private, corporate and institutional customers in over 40 countries in Europe,
North America, Latin America, Asia and Australia. We draw on our experience and expertise,
our commitment to excellent service and our global scale to meet the needs of a broad customer
base, comprising individuals, families, small, businesses, large corporations, institutions and
governments.
8) J&K
J&K Bank functions as a universal bank in Jammu & Kashmir and as a specialised bank in the
rest of the country. It is also the only private sector bank designated as RBIs agent for banking
business, and carries out the banking business of the Central Government, besides collecting
central taxes for CBDT. The J&K Bank is rated P1, indicating the highest degree of safety by
Standard & Poor and CRISIL. J&K Bank operates on the principle of 'socially empowering
banking' and seeks to deliver innovative financial solutions for household, small and medium
enterprises.




26




















27

Introduction to the Topic
Meaning of Current Account
Businessmen who have a high number of regular transactions with the bank open current bank
account. It also includes deposits, withdrawals & contra transactions. It is also known as
demand deposit account.
Type of Current Account of HDFC Bank
There are many types of current account of HDFC Bank, namely Regular Current Account,
Premium Current Account, Trade Current Account, Plus Current Account, Max Current
Account, Ultimo Current Account, Supreme Current Account, Apex Current account, Ezee
Current Account, Agri Current Account, Current Account for Hospitals and Nursing Homes,
Current Account for Professionals, Merchant Advantage Plus Current account, Merchant
Advantage Current account, Flexi Current Account, Institutional Current Account and HDFC
Bank of Ambala is offering most of them.

Regular Current Account
A Current account is ideal for carrying out day-to-day business transactions. With the HDFC
Bank Regular Current Account, you can access your account anytime, anywhere, pay using
payable at par cheques or deposit cheque at any HDFC bank branch. It also facilitates FREE
NEFT transactions & FREE RTGS collections for faster collections in your account. Regular
Current Account requires you to maintain an average quarterly balance of only Rs. 10,000.
Features and Benefits :
1) Convenient inter-city banking :
Free anywhere cheque payment
2) Free payments and collections through NEFT
3) Free RTGS collection. RTGS payment @ Rs.25/- per transaction
4) Inter-city Account to accounts funds transfer between HDFC Bank accounts at a
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nominal charge of Rs.15/- per transactions
5) Free Demand Drafts (DD) above Rs.100,000/-. Demand drafts up to Rs.50,000/- at flat
cost of Rs.40/-. DDs above Rs.50,000/- & up to Rs.100,000/- at nominal cost of Rs.25/-
6) Free Pay Order (PO) above Rs.100,000/-. Pay Order up to Rs.50,000/- at flat cost of
Rs.40/-. POs above Rs.50,000/- & up to Rs.100,000/- at nominal cost of Rs.25/-
7) Free Pay Order (PO) above Rs.100,000/-. Pay Order up to Rs.50,000/- at flat cost of
Rs.40/-. POs above Rs.50,000/- & up to Rs.100,000/- at nominal cost of Rs.25/-
8) Payable at par cheque book at nominal price.
9) Register for Insta Alert service and receive updates on your account as and when the
select transaction happens - all this without visiting the branch or ATM!
10) HDFC Bank offers you Doorstep Banking, a channel, which is convenient, secure and
hassle-free. Now, you can enjoy the benefits of banking right at your doorstep. The Bank will
arrange to render the services like Cash & Cheque Pickup and Cash Delivery, through a
reputed agency.
11) Enjoy facilities like 24-hour Phone Banking, Net Banking and Mobile Banking that helps
you check your balance & transaction details, find out the status of your cheque or stop
cheque payment.

Premium Current Account
You can avail benefits of inter-city banking account with Premium Current Account that requires
an average quarterly balance of only Rs. 25,000 offers Payable-At-Par cheque book facility &
FREE inter-city clearing transactions across our network up to Rs.15 Lacks per month. A
Current Account with the benefits of accessing your account from a large network of branches,
and through direct access channels - the phone, mobile, Internet and through the ATM.


Features and Benefits:
29

1) Free anywhere collection & payment within HDFC Bank branch network (except Dahej),
up to Rs.15 lacs per month, incremental amount to be charged @ Rs.1.50 per Rs.1, 000/-, min
Rs.25/-
2) Free NEFT Transactions
3) Free RTGS collection. RTGS payment @ Rs.25/- per transaction.
4) Free Inter-city Account to accounts funds transfer between HDFC Bank accounts.
5) Free anywhere collection & payment within HDFC Bank branch network (except Dahej),
up to Rs.15 lacs per month, incremental amount to be charged @ Rs.1.50 per Rs.1,000/-, min
Rs.25/-
6) Free NEFT Transactions
7) Free RTGS collection. RTGS payment @ Rs.25/- per transaction. Free anywhere
collection & payment within HDFC Bank branch network (except Dahej), up to Rs.15 lacs per
month, incremental amount to be charged @ Rs.1.50 per Rs.1, 000/-, min Rs.25/-
8) Free NEFT Transactions
9) Free anywhere collection & payment within HDFC Bank branch network (except Dahej),
up to Rs.15 lacs per month, incremental amount to be charged @ Rs.1.50 per Rs.1, 000/-, min
Rs.25/-
10) Free NEFT Transactions
11) Free RTGS collection. RTGS payment @ Rs.25/- per transaction.
12) Free Inter-city Account to accounts funds transfer between HDFC Bank accounts.
13) Free Demand Drafts (DD) above Rs.100,000/-. Demand drafts up to Rs.50, 000/- at flat
cost of Rs.40/-. DDs above Rs.50, 000/- & up to Rs.100, 000/- at nominal cost of Rs.25/- and can
be issued from any HDFC Bank Branch
14) Free Pay Order (PO) above Rs.100, 000/-. Pay Order up to Rs.50, 000/- at flat cost of
Rs.40/-. POs above Rs.50, 000/- & up to Rs.100, 000/- at nominal cost of Rs.25/- and can be
issued from any HDFC Bank Branch.
15) 100 "At Par" cheque leaves free per month
16) Register for Insta Alert service and receive updates on your account as and when the
select transaction happens - all this without visiting the branch or ATM!
17) HDFC Bank offers you Doorstep Banking*, a channel, which is convenient, secure and
hassle-free. Now, you can enjoy the benefits of banking right at your doorstep. The Bank will
30

arrange to render the services like Cash & Cheque Pickup and Cash Delivery, through a reputed
agency
18) Enjoy facilities like 24-hour Phone Banking, Net Banking and Mobile Banking to access
your account.

Trade Current Account
HDFC Bank Trade Current Account gives you the power of inter-city banking with a single
account. From special cheques that get treated at par with local ones in any city where we have a
branch, to free account to account funds transfer between HDFC Bank accounts, to free inter-city
cheque collection (through clearing) of up to Rs. 35 lakhs per month, our priority services have
become the benchmark for banking efficiency. Trade Current Account requires you to maintain
an average quarterly balance of Rs. 40,000.
Features and Benefits:
1) Free Account to account funds transfer between HDFC Bank accounts.
2) Free RTGS/NEFT Transactions.
3) Free up to 30 Demand Drafts (DD) per month and can be issued from any HDFC Bank
Branch.
4) Free up to 30 Pay Orders (PO) per month and can be issued from any HDFC Bank
Branch.
5) Free anywhere cheque collection within HDFC Bank branch network (except Dahej), up
to Rs.35 lacs per month.
6) Free Outstation Cheque Collection through Speed Clearing (for instruments with value
upto Rs. 1 lac).
7) Convenience to withdraw & deposit cash at all our branches
8) 200 "At Par" cheque leaves per free month. Free at par cheque payments across all HDFC
Bank locations for unlimited value.
9) Register for InstaAlert service and receive updates on your account as and when the
select transaction happens - all this without visiting the branch or ATM!
31

10) HDFC Bank offers you Doorstep Banking, a channel, which is convenient, secure and
hassle-free.
11) Enjoy facilities like 24-hour Phone Banking, Net Banking and Insta Query that helps you
check your balance & transaction details; find out the status of your cheque or stop cheque
payment.

Plus Current Account
In today's fast-paced world, your business regularly requires you to receive and send funds to
various cities in the country. From special cheques that get treated at par with local ones in any
city where we have a branch, faster collection of outstation cheques (payable at branch
locations), free account to account funds transfer between HDFC Bank accounts to Free inter-
city cheque collection (clearing) of up to 75 lakhs per month. Plus Current Account requires you
to maintain an average quarterly balance of Rs. 100,000.
Features and Benefits:
1) Free Account to account funds transfer between HDFC Bank accounts
2) Free payment and collection through RTGS
3) Free payment and collection using NEFT
4) Free up to 50 Demand Drafts per month and can be issued from any HDFC Bank
Branch
5) Free up to 50 Pay Orders (PO) per month.
6) Free anywhere cheque collection (clearing) within HDFC Bank branch network (except
Dahej), up to Rs.75 lacs per month
7) Free Outstation Cheque Collection through Speed Clearing (for instruments with value
upto Rs. 1 lac).
8) Convenience to withdraw & deposit cash at all our branches
9) 300 "At Par" cheque leaves free per month. Free at par cheque payments across all HDFC
Bank locations for unlimited value
32

10) Free Cash Deposit upto Rs.10 lacs per month across all HDFC Bank Branches in your
city. What's more, Cash Deposit at HDFC Bank branches in other cities is also free upto Rs.2
lacs per month.
11) Register for InstaAlert service and receive updates on your account as and when the
select transaction happens - all this without visiting the branch or ATM!
12) HDFC Bank offers you Doorstep Banking, a channel, which is convenient, secure and
hassle-free.

Ultima Current Account
Ultima Current Account is the right fit Current Account product for Manufacturers/large
Distributors/Stockiest/Multi specialty Hospitals and Dealers along with Business Banking /
Inventory Funding Customers. Avail a minimum free limit of Rs.2Cr on cash deposit at your
Home Branch Location and a free limit of Rs.50 Lac per month for cash deposit at Non-Home
Branch Location. Also, there is unlimited free local / anywhere cheque collections & payments
facility along with free RTGS/NEFT collections and payments and DD/PO for unlimited value
for your benefit.
Features and Benefits:
1) Free Home Location Cash Deposit limit, which is higher of Rs. 2 Cr per month (100
transactions) or 8 times the AMB maintained in the previous month
2) Non Home Location Cash Deposit of Rs. 50 lac per month (25 transactions). Operational
Limit of Rs. 5 lac for cash deposit at non home branch
3) Free Cash Withdrawal from Home Branch. Free Cash Withdrawal of up to Rs. 75 lac per
month from Non Home Branches
4) 1500 free cheque per month
5) 2000 free bulk transactions per month
6) Unlimited free local / anywhere cheque collections and payments (through both Clearing
& Funds Transfer)
7) Unlimited Free RTGS / NEFT Collections and Payments
8) Unlimited Free DD / MC; Free Correspondent Bank DD of up to Rs. 30 lac per month
33

9) Free Outstation Cheque Collection at Bank Location / Speed Clearing Transactions
10) Free Debit Cards (all variants) / ATM Card / Bill Pay / Insta Alert; 5 free ATM
withdrawals from non HDFC Bank ATMs per month
11) Bank conveniently with facilities like Net Banking, Phone banking and Mobile Banking
check your account balance, pay utility bills or stop cheque payments all via SMS.
12) Doorstep Banking* - a channel that is convenient, secure and hassle-free. We will
arrange to render services like cash and cheque pick-ups and cash deliveries, through a
reputed agency.

Supreme Current Account
For large traders operating across the country, this current account can help reduce transaction
cost. Plus free access to one of the most advanced and secure Net Banking and Mobile Banking
services.
Features and Benefits:
1) Free cash deposits of up to Rs. 10 lakh per month or 10 times the Average Monthly
Balance (whichever is higher), across all HDFC Bank branches pan India.
2) Lower AQB requirements Semi-Urban and Rural Locations
3) Free account-to-account fund transfers between HDFC Bank accounts
4) Free cheque collections anywhere within the HDFC Bank branch network (except
Dahej), up to Rs. 100 lakhs per month.*
5) 200 free "at par" cheque leaves per month and free at par cheque payments of unlimited
value* across all HDFC Bank locations
6) Free outstation cheque collections through Speed Clearing (for instruments with a value
of up to Rs. 1 lakh)
7) Up to 30 free Demand Drafts (DD) or Pay Orders (PO) per month of any value can be
issued from any HDFC Bank branch.
8) Free RTGS (Real Time Gross Settlement) and NEFT (National Electronic Fund Transfer)
collections.
9) Convenient cash withdrawals and deposits at all our branches*
34

10) Free InstaAlert registration for updates on your account as and when transactions happen.
No need to visit a branch or ATM
11) Doorstep Banking* - a channel that is convenient, secure and hassle-free. We will
arrange to render services like cash and cheque pick-ups and cash deliveries, through a
reputed agency.
12) Bank conveniently with facilities like Net Banking, Phone banking and Mobile Banking
check your account balance, pay utility bills or stop cheque payments all via SMS.

Apex Current account
A high end current account that caters to fast growing, large businesses who can derive
maximum advantage from the host of benefits offered.
Features and Benefits:
1) Maximum transactional benefits with faster mobilization of funds
2) Maintain an Average Quarterly Balance of Rs. 10, 00,000.
3) Access to more than 3000 branches.
4) Faster collection of outstation cheques through Speed Clearing. Speed clearing is
absolutely free with your Apex Current Account.
5) Free Inter-city cheque collections and payments within HDFC Bank Network for
unlimited value (excluding Dame).
6) Free account to account funds transfers between HDFC Bank accounts.
7) Free payment and collection through RTGS.
8) Free payment and collection using NEFT.
9) Free Demand Drafts & Pay Orders that can be issued from any HDFC Bank branch.
10) Convenience to withdraw and deposit cash at all our branches*.
11) Free cash deposits up to Rs. 120 lakhs per month across all home branches (subject to a
maximum of 60 transactions per month and a per day limit of Rs. 3 lakh on cash deposits
at non-home branches). Cash deposits at HDFC Bank branches in other cities are also
free up to Rs. 30 lakhs per month*.
12) 1000 free payable-at-par cheque leaves per month.
35

13) Register for InstaAlert and receive updates on your account whenever transactions take
place.
14) Doorstep Banking* for your convenience and security. We will pick-up and deliver cash
and cheques through a reputed agency.

Easy Current Account
For savvy traders operating across multiple cities, this current account can help reduce
transaction cost. Plus free access to one of the most advanced and secure Net Banking and
Mobile Banking services.
Features and Benefits:
1) Free cash deposits of up to Rs. 4 lakh per month or 6 times the Average Monthly Balance
(whichever is higher), across all HDFC Bank branches pan India
2) Lower AQB requirements Semi-Urban and Rural Locations
3) Free account-to-account fund transfers between HDFC Bank accounts
4) Free cheque collections anywhere within the HDFC Bank branch network (except
Dahej), up to Rs. 25 lakh per month
5) 100 free "at par" cheque leaves per month and free at par cheque payments of unlimited
value* across all HDFC Bank locations
6) Free outstation cheque collections through Speed Clearing (for instruments with a value
of up to Rs. 1 lakh)
7) Up to 20 free Demand Drafts (DD) or Pay Orders (PO) per month of any value can be
issued from any HDFC Bank branch
8) Free RTGS (Real Time Gross Settlement) and NEFT (National Electronic Fund Transfer)
collections.
9) Convenient cash withdrawals and deposits at all our branches*
10) Free InstaAlert registration for updates on your account as and when transactions happen.
No need to visit a branch or ATM
36

11) Doorstep Banking* - a channel that is convenient, secure and hassle-free. We will
arrange to render services like cash and cheque pick-ups and cash deliveries, through a
reputed agency.
Max Current Account
High, dynamic cash deposit limit at any location makes this current account ideal for large
businesses operating across the country
Features and Benefits:
1) Maximum transactional benefits with faster mobilization of funds
2) Average Quarterly Balance of Rs. 5,00,000
3) Access to more than 3000 branches
4) Faster collection of outstation cheques. No charges for outstation cheque collection at
HDFC Bank Locations.
5) Free account to account funds transfers between HDFC Bank accounts
6) Free payment and collection through RTGS and NEFT
7) Free Demand Drafts & Pay Orders that can be issued from any HDFC Bank branch
8) Free anywhere cheque collections (through clearing) up to Rs. 3.5 Crores per month
within the HDFC Bank branch network (except Dahej)
9) Faster collection of outstation cheques through Speed Clearing. Speed Clearing is
absolutely free with your Max Current Account
10) 500 free at-par cheque leaves per month
11) Free at-par cheque payments across all HDFC Bank locations for any value*
12) Convenience to withdraw and deposit cash at all HDFC Bank branches*
13) Combined free limit for cash deposit across all HDFC Bank Branches (Home and non-
home locations) of Rs.60 lacs per month (subject to a maximum monthly free limit of
Rs.200 Lacs)*.
14) Register for InstaAlerts and receive updates on your account whenever transactions take
place.
Agri Current Account
37

A current account ideally suited for those in Agriculture related industries where the nature of
business is seasonal.

Features and Benefits:
1) Agri Current Account offers those involved in Trading of agricultural commodities, the
benefit of Half Yearly Average Balance Requirement of Rs. 10000/-. As such, you need
not bother about AQB charges in non-business months.
2) Free unlimited cash withdrawals from Home Branch.
3) 50 free Payableatpar cheque leaves per month.
4) Free Cash Deposits up to Rs.10 lacs per month across all branches in your home city*.
5) Free account to account funds transfers within HDFC bank.
6) Free Local cheque collections and payments.
7) Free payments and collections through NEFT.
8) Free RTGS collections. RTGS payments @ Rs. 25 per transaction.
9) Free payments (clearing transactions) at all HDFC bank locations.
10) Free issuance of Pay Orders(PO)/Demand Drafts(DD) for instruments above the value of
Rs.50,000/- on any HDFC Bank Locations
11) Doorstep Banking* - a channel that is convenient, secure and hassle-free. We will
arrange to render the services like Cash & Cheque Pick-ups and Cash Deliveries, through
a reputed agency.
12) Free 24-hour Phone Banking, Net Banking and Mobile Banking so you can check your
balance and transaction details, find out the status of your cheques or stop cheque
payments.
13) InstaAlerts registration to get updates on your account as and when transactions happen.
No need to visit a branch or ATM.

Current Account for Hospitals and Nursing Homes
38

Best suited for Hospitals and Nursing Homes, this current account comes with higher cash
deposit limits.
Features and Benefits:
1) Free Cash Deposit up to Rs. 10 lakhs per month at Home Location.
2) Free account to account funds transfers (local and anywhere) within HDFC bank.
3) Free Local cheque collections and payments.
4) Free payments and collections through NEFT.
5) Free payments and collections through RTGS.
6) Free cheque payments (clearing transactions) at all HDFC bank locations.
7) Free cash withdrawals at Home Branch.
8) 200 free Payableatpar cheque leaves per month.
9) Up to 30 free Pay Orders (POs) per month can be issued from any HDFC bank branch.
10) Up to 30 free Demand Drafts (DDs) per month can be issued from any HDFC bank
branch.
11) Doorstep Banking* - a channel that is convenient, secure and hassle-free. We will
arrange to render services like Cash & Cheque Pick-ups and Cash Deliveries, through a
reputed agency.
12) Free 24-hour Phone Banking, Net Banking and Mobile Banking so you can check your
balance and transaction details, find out the status of your cheques or stop cheque
payments.
13) Register for InstaAlerts to get updates on your account as and when transactions happen.
No visiting a branch or ATM.
14) You can enjoy all the above mentioned facilities and many more by just maintaining an
Average Quarterly Balance (AQB) of Rs. 40,000.

Current Account for Professionals
Doctors, Architects, Chartered Accountants and other professionals can derive maximum value
from this current account.
39

Features and Benefits:
1) Average Quarterly Balance (AQB) requirement of Rs. 10,000.
2) Free Cash Deposits up to Rs.10 lacs per month across all branches in your home city*
3) Free account to account funds transfers (local and anywhere) within HDFC bank.
4) Free Local cheque collection and payment.
5) Free payments and collections through NEFT.
6) Free payments and collections through RTGS.
7) Free cheque payments (clearing transactions) at all HDFC bank locations.
8) Free cash withdrawals at your home branch.
9) 50 free payable atpar cheque leaves per month.
10) 30 free Pay Orders (PO's) per month can be issued from any HDFC bank branch.
11) 30 free Demand Drafts (DDs) per month can be issued from any HDFC bank branch.
12) Doorstep Banking* - a channel that is convenient, secure and hassle-free. We will
arrange to render the services like Cash & Cheque Pick-ups and Cash Deliveries, through
a reputed agency.
13) Free 24-hour Phone Banking, Net Banking and Mobile Banking so you can check your
balance and transaction details, find out the status of your cheques or stop cheque
payments.

Merchant Advantage plus Current account
Best suited for large retail outlets. Cash deposit limits are linked to transaction volumes on card
swipe machines, making this current account cost effective.
Features and Benefits:
1) Enjoy a free monthly Cash Deposit limit* at your home branch that is four times the
amount swiped at the HDFC Bank EDC Machine linked to the Merchant Advantage Plus
Current Account.
2) Get free Regular and Business Debit Cards with your Merchant Advantage plus Current
Account.
40

3) Pay your vendors and suppliers across the country using multiple remittance options like
local, at-par cheques, Demand Drafts, Pay Orders, RTGS (Real Time Gross Settlement)
for greater convenience and reduced cost.
4) Enjoy 24-hour access to Net Banking, Phone Banking, ATMs and Mobile Banking.
5) Enjoy special privileges with Doorstep Banking services like cash and cheque pick-ups
and cash deliveries at nominal rates.
6) Get special offers and a host of privileges with your Business Debit Card.
7) Make your utility bill payments with Bill Pay. This service is absolutely free.
8) Get free monthly account statements.
9) Use InstaAlerts and get free balances and transaction alerts on your mobile phone and via
email.
10) Average Minimum Balance requirement is Rs.1, 00,000 per month. Non maintenance
charges for the minimum balance is Rs. 1,000/- per month
11) Bank conveniently with facilities like Net Banking, Phone banking and Mobile Banking
check your account balance, pay utility bills or stop cheque payments all via SMS.

Merchant Advantage Current account
Ideal current account for retail outlets. Cash deposit limits are linked to transaction volumes on
card swipe machines, making this account cost effective.
Features and Benefits:
1) Enjoy a free monthly Cash Deposit limit* at your home branch location that is four times
the amount swiped at the HDFC Bank EDC Machine linked to your Merchant Advantage
Current Account
2) Pay your vendors and suppliers across the country using multiple remittance options like
local, at-par cheques, Demand Drafts, Pay Orders, RTGS (Real Time Gross Settlement)
for greater convenience and reduced cost.
3) Enjoy 24-hour access to your account through Net Banking, Phone Banking, ATMs and
Mobile Banking
41

4) Enjoy special privileges with Doorstep Banking services like cash and cheque pick-ups
and cash deliveries at nominal rates
5) Get a free Regular Debit Card, which comes with a host of privileges and benefits
6) Make your utility bill payments with BillPay. This is absolutely free.
7) Get free monthly account statements
8) Use InstaAlerts and get free balance and transaction alerts on your mobile phone and
email.
9) Average Minimum Balance requirement is Rs.25, 000 per month. Non maintenance
charges for the minimum balance is Rs. 300/- per month.
10) Bank conveniently with facilities like Net Banking, Phone banking and Mobile Banking
check your account balance, pay utility bills or stop cheque payments all via SMS.

Flexi Current Account
Ideal for businesses with high seasonal requirement. This current account offers dynamic cash
deposit limits to match business seasonality thereby reducing cost.
Features and Benefits:
1) Enjoy dynamic free limits on Intercity Cheque Collections & Account to Account Funds
Transfer as well as Cash Deposit at home location branches based on the AMB (Average
Monthly Balance) maintained*
2) Take for example your AMB in a particular month is Rs.2,00,000 then your dynamic free
transaction limit for that month will be as per follows:
3) Transaction Dynamic Free Limits*
4) Cash deposit at home branch Rs. 20,00,000 (10 times AMB)
5) Collections and funds transfers anywhere (except Dahej) Rs. 70,00,000 (35 times
AMB)
6) Free RTGS/NEFT Transactions.
7) 40 free Demand Drafts and 40 free Pay Orders issued from any HDFC Bank branch*
8) Convenience to withdraw and deposit cash at all HDFC Bank branches*.
42

9) Competitive pricing on Demand Drafts drawn on Correspondent Banking Locations and
Outstation Cheque Collection at HDFC Bank Locations
10) InstaAlerts receive updates on your account whenever transactions happen.
11) Enjoy 24-hour Phone Banking, Net Banking and InstaQuery that helps you check your
balance and transaction details, find out the status of cheques or stop cheque payments.
12) Doorstep Banking* for your convenience and security. We will arrange for cash and
cheque pick-ups and cash deliveries, through a reputed agency.


Institutional Current Account
Institutional Current Account is a specially designed current account product for Trusts,
Associations, Societies, Clubs, Non-Profit Organizations and Government Department
Municipal Bodies. It has features which are specially designed keeping in mind the requirement
of the Institutional segment.
Features and Benefits:
1) Free local and anywhere fund transfer facility within HDFC Bank.
2) Free local and anywhere cheque payment facility.
3) Free anywhere cheque collection of Rs. 350 lac per month, above which charges at Rs.
1.50/1000 subject to minimum of Rs. 50 per transaction.
4) Free bulk transaction of 300 transactions per month, beyond which Rs. 10 per transaction.
5) Free Outstation cheque collection at Bank location.
6) Minimum free limit for cash deposit at home location is Rs. 50 lac per month or 50
transactions, whichever is lower, beyond which charges at Rs. 4 / 1000.
7) Free cash withdrawal at Home Branch.
8) Free DD/PO payable at Bank location.
9) Free 25 RTGS / NEFT payment transactions per month.
10) Free collections through RTGS / NEFT.
11) Free 500 payable at par cheque leaves per month, beyond which Rs. 2 per cheque leave.
43

12) Free InstaAlerts registration for updates on your account as and when transactions
happen. No need to visit a branch or ATM.
13) Doorstep Banking* - a channel that is convenient, secure and hassle-free. We will
arrange to render services like Cash & Cheque pick-ups and Cash Deliveries, through a
reputed agency.

1.2.3 PROBLEMS OF THE ORGANIZATION
1) Organization is not aware of level of satisfaction of the existing customers.
2) Customers are switching to other banks.
3) In some Current Account there are very low transactions of funds.
4) Organization is not aware that for what reasons customer prefers this bank.
5) Organization wanted to know that customer is aware of the extra services or not.

1. 3 Int roduct i on t o cust omer sat i sf act i on
Customer satisfaction is essential for the survival of any business. The best way to find out
whether customers are satisfied or not is to ask them their opinions about your products and
services, what's most important to them, and then make improvements to those areas that have
the biggest impact on their satisfaction.
Customer satisfaction, however, is when the customer is satisfied with aproduct/service that
meets the customers needs, wants, and expectations.
The level of satisfaction is determined not only by the quality and type of customer
experience but also by the customers expectations. A customer may be defined as someone who

Has a direct relationship with, or is directly affected by your agency and
Receives or relies on one or more of your agencys services or products.
44



The ultimate aim of measuring customer satisfaction must be to act on the information gathered,
close the gaps between the customers perception of service and the actual service provided.
An organization with a strong customer serviceculture places the customer at the centre of
service design, planning and service delivery. Customer centric organizations will:

Determine the customers expectations when they plan listen to the customer
asthey design.
measure performance.

1.3.1 Measure Customer Satisfaction.
In todays competitive environment, every organization is trying to attract the
customers by assuring highest degree of satisfaction. Satisfied customers are the main
determinants of success or failure of the business of an organization.
Customer satisfaction measurement helps the organization to know:
How well are the products and services able to meetcustomer needs and expectations?
How well is the business process working?
Where to make the changes to improve the performance of product or process?
What is the effect of the changes made for improvements?
45


1.3.2 Information search
Once the consumer has recognized a problem, they search for information on products and
services that can solve that problem. Belch and Belch (2007) explain that consumers undertake
both an internal (memory) and an external search.
Sources of information include: -
Personal sources
Commercial sources
Public sources
Personal experiences
The relevant internal psychological process that is associated with information search is
perception. Perception is defined as the process by which an individual receives, selects,
organizes, and interprets information to create a meaningful picture of the world.

1.3.3 The selective consumer behavior process
Stage Description
Selective exposure consumers select which promotional messages they will expose
themselves to.
Selective comprehension consumer interpret messages in line with their beliefs, attitudes,
motives and experiences
Selective retention consumers remember messages that are more meaningful or important
to them. The implication of the process helps develop an effective promotional strategy,
and select which sources of information are more effective for the brand.
1.3.4 Information evaluation
At this time the consumer compares the brand and products that are in their evoked set. How can
the marketing organization increase the likelihood that their brand is part of the consumers
46

evoked set? Consumers evaluate alternatives I terms of the functional and psychological benefits
that they offer. The marketing organization needs to understand what benefits consumers are
seeking and therefore which attributes are most important in terms of making a decision.
Purchase decision
Once the alternatives have been evaluated, the consumer is ready to make a purchase decision.
Sometimes purchase intention doesnt result in an actual purchase. The marketing organization
must facilitate the consumer to act on their purchase intention. The organization can use variety
of technique to achieve this. The provision of credit or payment terms may encourage purchase,
or a sales promotion such as the opportunity to receive a premium or enter a competition may
provide an incentive to buy now. The relevant internal psychological process that is associated
with purchase decision is integration. Once the integration achieved, the organization can
influence the purchase decisions much more easily.
Post purchase evaluation
It is common for the customers to experience concerns after making a purchase decision. This
arises from a concept that is known as cognitive dissonance. The customer, having bought a
product, may feel that an alternative would have been preferable. In these circumstances that
customer will not repurchase immediately, but is likely to switch brands next time.
To manage the post-purchase stage, it is the job of the marketing team to persuade the potential
customer that the product will satisfy his or her needs. Then after having made a purchase, the
customer should be encouraged that he or she has made the right decision. It is not affected by
advertisement.
Internal influences
Consumer behavior is influenced by demographics, psychographics, personality, motivation,
knowledge, attitudes, beliefs and feelings. Consumer behavior concern with consumer need
consumer actions in the direction of satisfying needs leads to his behavior of every individual
depend on thinking.
External influences
47

Consumer behavior is influenced by: culture, sub-culture, locality, royalty, ethnicity, family,
social class, reference groups, lifestyle, sex and all.








Chapter 2

LITERATURE
REVIEW



48






3.1 LITERATURE REVIEW
Both the technical and the functional dimensions of service management were shown to correlate
with customer satisfaction. Thus, SMEs seem to evaluate their banking relationship not only on
the basis of the effectiveness and quality of banks' service outcomes but also on the care and
manner in which the bankers deliver services. (Nicolas Lundahl, Fatima Vegholm, Lars
Silver, Managing Service Quality Volume: 19 Issue: 5 2009)
The purpose of this paper is to explore the relationship between corporate social responsibility
(CSR) and customer outcomes. This paper reviews the literature on CSR effects and satisfaction,
noting gaps in the literature. A series of propositions is put forward to guide future research
endeavors. By understanding the likely impact on customer satisfaction of CSR initiatives vis--
vis customer-centric initiatives, the academic research community can assist managers to
understand how to best allocate company resources in situations of low customer satisfaction.
Such endeavors are managerially relevant and topical. Researchers seeking to test the
propositions put forward in this paper would be able to gain links with, and possibly attract
funding from, banks to conduct their research. Such endeavors may assist researchers to redefine
the stakeholder view by placing customers at the center of a network of stakeholders. An
understanding of how to best allocate company resources to increase the proportion of satisfied
customers will allow bank marketers to reduce customer churn and hence increase market share
and profits. (Lynette M. McDonald, Sharyn Rundle-Thiele, International Journal of Bank
Marketing Volume: 26 Issue: 3 2008)
49

Ethics have always played a crucial role in the realm of business and commerce. This paper aims to
extract the principle factors of ethical practices to develop a model for competitive advantage in banking
and to show the relation between ethical practice and customer satisfaction and the linked reason for
satisfaction as a tool for competitive advantage. Based on the literature review, ethical issues in banking
have been identified as a foundation work. Then an empirical study using survey research has been
completed. The survey questionnaire has been designed using the literature and pilot survey input. Factor
analysis has been conducted to derive ethical factors for competitive advantage from the survey data,
which included 186 responses. ?2 tests were also carried out to show the linked .From the analysis; two
principle factors have been extracted: the cost leveraging factor; and the value leveraging factor which
lead to competitive advantage. Moreover, it also revealed that high ethical practice results in high
customer satisfaction and performance. ( Goitom Tesfom, Nancy J. Birch Journal of Services
Marketing Volume: 25 Issue: 5 2011)
This research investigated the relationship between three elements core service quality,
relational service quality- and perceived value and customer satisfaction and future intentions
across four services. The results revealed that core service quality (the promise) and perceived
value were the most important drivers of customer satisfaction with relational service quality (the
delivery) a significant but less important driver. A direct link between customer satisfaction and
future intentions was established. The relative importance of the three drivers of satisfaction
varied among services. Specifically, the importance of core service quality and perceived value
was reversed depending on the service. A major conclusion was that both perceived value and
service quality dimensions should be incorporated into customer satisfaction models to provide a
more complete picture of the drivers of satisfaction. . (Gordon H.G. McDougall, Birch Journal
of Services Marketing Volume: 25 Issue: 5 2011)
Results from independent two-sample t-tests and logistic regression support all five hypotheses,
confirming that young and older bank customers differ significantly in their perception of switching
barriers: relational benefits, switching costs, availability and attractiveness of alternatives, service
recovery and the duration of time they intend to end their relationship with their banks. This study was
conducted among employees of two higher education institutions. Thus, further research needs to test the
research results in a diverse population. Since younger customers are more likely to change their banks
easily, if retail banks want to retain younger customers they need to offer more meaningful incentives to
younger customers than they offer to older customers. In terms of practice the findings in this research
highlight the need for managers to design different switching barrier packages for each customer age
50

group. ( Goitom Tesfom, Nancy J. Birch Journal of Services Marketing Volume: 25 Issue:
5 2011)

This research investigated the relationship between three elements core service quality,
relational service quality- and perceived value and customer satisfaction and future intentions
across four services. The results revealed that core service quality (the promise) and perceived
value were the most important drivers of customer satisfaction with relational service quality (the
delivery) a significant but less important driver. A direct link between customer satisfaction and
future intentions was established. The relative importance of the three drivers of satisfaction
varied among services. Specifically, the importance of core service quality and perceived value
was reversed depending on the service. A major conclusion was that both perceived value and
service quality dimensions should be incorporated into customer satisfaction models to provide a
more complete picture of the drivers of satisfaction. (Gordon H.G. McDougall, (Professor of
Marketing, School of Business and Economics, Wilfred Laurier University, Waterloo,
Ontario, Canada), Terrence Levesque, (Professor of Economics, School of Business and
Economics, Wilfrid Laurier University, Waterloo, Ontario, Canada)






51






Chapter 2

RESEARCH
METHODOLOGY

52









RESEARCH METHODOLOGY
3.1 OBJECTIVES OF THE STUDY

Main objective:
To know the customers satisfaction level and their perception towards of HDFC Bank
services.

Sub objectives:
To know that whether the customer is getting prompt services from the bank or not.
To know the level of interest of customer towards differentproducts of current account.
To know the reasons that attracts the customers to be a part of the bank.
To know the customer awareness regarding the Banks extra services.

3.2 RESEARCH METHODOLOGY
This topic describes the methods of the study of the project. Research is a careful
investigation or inquiry especially through search for new facts in branch of
53

knowledge: market research specifies the information.Research problem is the one which
requires a researcher to find out the best solution for the gi ven pr obl em t hat i s t o f i nd
out t he cour s e of act i on, t he act i on t he obj ect i ves can be obtained optimally in
the context of a given environment.

RESEARCH DESIGN
A framework or blueprint for conducting the research project. It specifies the details of the
procedures necessary for obtaining the information needed to structure and/or solve research
problems.


cedures.
appropriate form for data collection.



3.3 Data Collection: -
The data are collected by the primary and secondary sources both to know the customers
satisfaction level towards Current Account of HDFC Bank.
a) Primary sources:-
The primary sources are those through which data can be collected by first hand. The data
has been collected directly from respondents with the help of questionnaires and analysis was
done on the basis of response received from the customers.The questionnaire has been
designed in such a manner that the consumers satisfactionlevel can be measured easily.
SECONDARY DATA:-
Secondary data means data that are already available i.e. they refer the data which have already
been collected and analyzed by someone else. When the researcher utilizes secondary data, than
he has to look into various sources from where he can obtain them, in this case he is certainly not
confronted with the problems that are usually associated with the collection of original data.
54

Secondary data may either be published data or unpublished data. Usually published data are
available in:
The main source of information for the project was
Weekly magazine;
Internet
Newspapers

AREA OF STUDY
The area of survey is Ambala Cantt.
SAMPLE SIZE
The sample of 100 persons was taken on the basis of convenience.
Tools for analysis
Graphical tools:
Graphical tools used are
Pie chart
Bar diagram

LIMITATIONS
All efforts have been made to present a true picture of the satisfaction level of customers towards current
account of hdfc bank, but there are certain limitations to be kept in mind while going through the report.
1) SAMPLE SIZE:-
The size of samples greatly affects the survey results, but the size may not be substantial, may be too
short for the conduct of survey in market.
2) TIME:-
55

Time constraints were a great barrier as the work was to be completed in a given time period.
3) INFORMATION MAY BE BIASED:-
Respondents answer may be biased; it may be influenced by other factors such as advertisements,
brand ambassador, family members, relatives etc.
4) LIMITED AREA OF STUDY:-
The area of study is also greatly affecting the study done;this study is done in limited area only in
Ambala cantt.



Chapter 4
Data Analysis
And
56

Interpretation






Data Analysis
Q. 1 CUSTOMER PROFILE OF SURVEYED RESPONDENTS
Table 4.1 Customer Profiles of Surveyed Respondents.
Feedback No. of Respondents Percentage of
Respondents(N=100)
Business 92 92%
Profession 8 8%
Services 0 0%
Total 100 100%
Source: questionnaire survey

57


Figure 4.1 OCCUPATIONS OF THE RESPONDENTS


INTERPRETATION:
According to the above analysis it is concluded that out of sample of 100 people, 92%
respondents were businessman, 8% respondents were having profession and 0% respondents
were serviceman.

Q. 2 HOW LONG YOU ARE A PART OF HDFC BANK?
Table 4.2
Feedback No. of Respondents Percentage of
Respondents (N=100)
Less Than 6 Months 20 20%
Less Than 1 Year 37 37%
0%
20%
40%
60%
80%
100%
Business
Profession
Service
92%
8%
0%
Percentage of Respondents
Percentage of Respondents
58

Less Than 2 Years 14 14%
More Than 2 Years 29 29%
Total 100 100%

Figure 4.2 Time period of stay in HDFC Bank

INTERPRETATION:
The above diagram shows that 20% respondents were a part of bank for less than 6 months, 37%
respondents were a part of bank for less than 1 year, 14% respondents were a part of bank for
less than 2 years and 29% respondents were a part of bank for more than 2 years.

Q. 3. WHAT ARE THE REASONS THAT ATTRACT YOU TO BE A CUSTOMER OF
THE BANK?
Table 4.3
Feedback No. of Respondents Percentage of
Respondents (N=100)
20%
37%
14%
29%
Percentage of respondents
Less Than 6 Months
Less Than 1 year
Less Than 2 Years
More Than 2 Years
59

Its Image 40 40%
Its Services 30 30%
Its Product 20 20%
All Above 10 10%
Total 100 100%


Figure 4.3 Major attraction of the bank
INTERPRETATION:
The above diagram shows that 40% respondents were attracted to the bank because of its image,
30% were attracted because of its services, 20% were attracted because of its products, and 10%
were attracted because of all three reasons.

Q.4. ARE YOU SATISFIED WITH THE FEATURES AND BENEFITS OF THE
PRODUCTS OF CURRENT ACCOUNT?
Table 4.4
40%
30%
20%
10%
0%
10%
20%
30%
40%
50%
0 1 2 3 4 5
Percentage of respondents
Percentage Of Respondents
60

Feedback No. of Respondents Percentage of
Respondents (N=100)
Strongly Agree 22 22%
Agree 47 47%
Neutral 29 29%
Disagree 2 2%
Strongly Disagree 0 0%
Total 100 100%
Source: questionnaire survey

Figure 4.4 HDFC Bank is providing satisfaction to customers.
INTERPRETATION:
From the above analysis it is concluded that 22% respondents were strongly agree with the
statement , 47% respondents only agree with the statement, 29% respondents were neutral, 2%
respondents were disagree but no respondent was strongly disagree with the above statement.

22%
47%
29%
2%
0%
0%
10%
20%
30%
40%
50%
Strongly
Agree
Agree Neutral Disagree Strongly
Disagree
Percentage of respondents
Percentage Of Respondents
61

Q 5. Which product of current account you prefer?
Table 4.5
Feedback No. of Respondents Percentage of
Respondents(N=100)
Regular Current Account 25 25%
Premium Current Account 46 46%
Trade Current Account 15 15%
Plus Current Account 14 14%
Total 100 100%
Source: questionnaire survey

Figure 4.5 Product of current account you prefer the most.
INTERPRETATION:
From the above analysis it is concluded that most of the respondents preferred Premium Current
Account, 25% respondents preferred Regular Current Account, 15% respondents preferred Trade
Current Account and 14% respondents preferred Plus Current Account.

25%
46%
15% 14%
0%
10%
20%
30%
40%
50%
Regular
Current
Account
Premium
Current
Account
Trade
Current
Account
Plus Current
Account
Percentage of Respondents
Percentage Of Respondents
62

Q 6. Which of the following extra services of the bank would you like to go in
for?
Table 4.6
Feedback No. of Respondents Percentage of
Respondents(N=100)
Phone Banking 5 5%
ATM 40 40%
Net Banking 5 5%
Bill Payment 10 10%
All Above 40 40%
Total 100 100%
Source: questionnaire survey

Figure 4.6 Extra benefits asked by respondents from bank.
INTERPRETATION:
From the above analysis of given sample of 100 respondents , 40% respondents know about
ATM services , 5% respondents know about Phone banking , 5% respondents know about Net
0%
10%
20%
30%
40%
5%
40%
5%
10%
40%
Percentage of Respondents
Percentage Of Respondents
63

Banking, 10% respondents know about Bill Payment and 40% respondents know about all
services.

Ques 7. Do you always get prompt services whenever you visit the branch?
Table 4.7
Feedback No. of Respondents Percentage of
Respondents(N=100)
Always 30 30%
Often 34 34%
Sometimes 27 27%
Rarely 7 7%
Never 2 2%
Total 100 100%

Figure 4.7 Prompt services whenever visit to the branch.

0%
10%
20%
30%
40%
No. Of Respondents
30%
34%
27%
7%
2%
Percentage of Respondents
Always
Often
Sometimes
Rarely
Never
64

INTERPRETATION:
From the above analysis it is concluded that 30% respondents always get prompt services
whenever they visit the branch, 34% respondents often get prompt services and 27% respondents
get sometimes prompt services and 7% get rarely prompt services whenever they visit the branch
and 2% respondents never get prompt services whenever they visit the branch.




Ques 8. If another bank provides you same facilities, would you like to switch
to other bank?
Table 4.8
Feedback No. of Respondents Percentage of
Respondents(N=100)
No, Not At All 48 48%
I May Consider 22 22%
Yes, Surely 2 2%
Cant Say 28 28%
Total 100 100%
ANALYSIS 11: Preference of other bank over HDFC Bank.
65


Figure 4.8


INTERPRETATION:
According to the above analysis, it is concluded that most of the respondents would not like to
switch to other bank and 2% respondents would surely switch to other bank and 28%
respondents cant say anything but 22% respondents may consider other bank.

Q. 9. What is your overall satisfaction rating with HDFC Bank ?
Table 4.9
Feedback No. of Respondents Percentage of
Respondents (N=100)
Very Dissatisfied 0 0%
Somewhat Dissatisfied 2 2%
0%
10%
20%
30%
40%
50%
No, Not At
All
I May
Consider
Yes, Surely Can't Say
48%
22%
2%
28%
Percentage of Respondents
Percentage Of Respondents
66

Neutral 29 29%
Somewhat Satisfied 47 47%
Very Satisfied 22 22%
Total 100 100%

ANALYSIS11: Overall satisfaction rating with HDFC Bank current account.

Figure 4.9
INTERPRETATION:
The above diagram shows that no respondent is very dissatisfied with HDFC Bank, only 2%
respondent is somewhat dissatisfied with the bank, 29% respondents were neutral and 47%
respondents were somewhat satisfied and 22% respondents were very satisfied with the HDFC
Bank.


0%
2%
29%
47%
22%
0%
10%
20%
30%
40%
50%
Percentage of Respondents
Percentage Of Respondents
67







Chapter 5

Finding
Suggestion
Conclusion

68






FINDING & LEARNING
1) It is concluded that out of sample of 100 people, 92% respondents were businessman, 8%
respondents were having profession and 0% respondents were serviceman.
2) It is concluded that 20% respondents were a part of bank for less than 6 months, 37%
respondents were a part of bank for less than 1 year, 14% respondents were a part of bank for
less than 2 years and 29% respondents were a part of bank for more than 2 years.
3) It is concluded that 40% respondents were attracted to the bank because of its image, 30%
were attracted because of its services, 20% were attracted because of its products, and 10% were
attracted because of all three reasons.
4) It is concluded that 84% respondents were satisfied with benefits and features of current
account and 16% respondents was not satisfied with benefits and features of current account of
the HDFC Bank.
5) It is concluded that most of the respondents preferred Premium Current Account, 25%
respondents preferred Regular Current Account, 15% respondents preferred Trade Current
Account and 14% respondents preferred Plus Current Account.
6) It is concluded out of given sample of 100 respondents, 48% respondents will definitely
recommend product to others, 22% respondents will probably recommend product to others,
27% respondents will might or might not recommend, 3% respondents will probably not
recommend, but no respondent will definitely not recommend product to others.
69

7) It is concluded that all respondents know about extra services being provided by the bank.
8) It is concluded that out of given sample of 100 respondents , 40% respondents use ATM
services , 5% respondents use Phone banking , 5% respondents use Net Banking, 10%
respondents use Bill Payment and 40% respondents use all services.
9) It is concluded that 30% respondents always get prompt services whenever they visit the
branch, 34% respondents often get prompt services and 27% respondents get sometimes prompt
services and 7% get rarely prompt services whenever they visit the branch and 2% respondents
never get prompt services whenever they visit the branch.
10) It is concluded that most of the respondents (48%) would not like to switch to other bank and
2% respondents would surely switch to other bank and 28% respondents cant say anything but
22% respondents may consider other bank.
11) It is concluded that no respondent is very dissatisfied with HDFC Bank, only 2% respondent
is somewhat dissatisfied with the bank, 29% respondents were neutral and 47% respondents were
somewhat satisfied and 22% respondents were very satisfied with the HDFC Bank.

OTHER FINDINGS:
1) Out of 100 respondents, most of the respondents were a part of the bank for less than 1
year.
2) Most of the respondents were attracted to the bank because of its image.
3) Most of the respondents were agree that HDFC Bank is providing 100% satisfaction.
4) Only 84% respondents were satisfied with benefits and features of current account of the
HDFC Bank.
5) Most of the respondents preferred Premium Current Account.
6) 56 respondents were using other bank account than HDFC Bank and 44 respondents were
not using other bank account than HDFC Bank.
7) All customers are aware of extra services offered by HDFC Bank.
8) Most of the respondents are go in for ATM services
9) It is concluded that most of the respondents would not like to switch to other bank.
70

10) Most of the respondents will definitely recommend product to others.







SUGGESTIONS
1. Bank should try to retain the loyal customers.
2. Bank should try to attract customers by its services and products
3. Bank should try to change the perception of the customers in a positive way that it
provides 100% satisfaction to its customers.
4. The bank should enhance their services according to the needs of the customer so that
they can be satisfied with benefits and features of the current account.
5. Bank should satisfy the customer in such a way that they could not switch to other bank.
6. Bank should focus on net banking and phone banking.
7. The bank should make its procedures less time consuming.
8. Bank should try to satisfy its customers in overall performance.


CONCLUSION
5.2.1 CONSUMER RESEARCH:
Consumer research deals with consumer and their problem and solution to the problem. This
study helps to know about the consumers need and expectation levels regarding products and
ascertainable levels of consumer satisfaction.
5.2.2 PRODUCT RESEARCH:
71

Under product research I came to know about the modification which consumers want so the
features and benefits of the product of the current account.






BIBLIOGRAPHY
1. www.hdfcbank.com
2. www.scribed.com`
3. www.google.co.in
4. www.hdfcbank.com/personal/prd_glance.htm
5. http://en.wikipedia.org/wiki/Yes_Bank
6. http://en.wikipedia.org/wiki/State_Bank_of_India
7. http://en.wikipedia.org/wiki/Kotak_Mahindra_Bank
8. http://en.wikipedia.org/wiki/Axis_Bank
9. http://en.wikipedia.org/wiki/ICICI_Bank
10. http://www.hdfcbank.com/personal/accounts/current_accounts/plus_current_account/plus
_acc.htm
11. http://www.hdfcbank.com/personal/accounts/current_accounts/trade_current_account/tra
de_acc.htm
12. http://www.hdfcbank.com/personal/accounts/current_accounts/premium_current_account
/premium_acc.htm
13. http://www.hdfcbank.com/personal/accounts/current_accounts/regular_current_account/r
egularcc_acc.htm