A

PROJECT REPORT
ON
COMPARITIVE ANALYSIS OF STANDARD
CHARATERED BANK WITH OTHER FOREIGN
BANKS
SUBMITTED IN FULFILMENT OF BBA (GEN)-IIIrd SEM PROJECT
IN GGSIP UNIVERSITY, DWARKA,SEC-16, NEW DELHI
Submitted to:
Dr. Usha nair
(PROJECT GUIDE)

Submitted by:
SHASHANK TYAGI
BBA (GEN)
IIIrd Semester
EnrollNo.30417001714

TECNIA INSTITUTE OF ADVANCED STUDIES

GURU GOBIND SINGH INDRAPRASTHA

UNIVERSITY

CERTIFICATE
This is to certify that the project entitled COMPARITIVE ANALYSIS OF
STANDARD CHARATERED BANK WITH OTHER FOREIGN BANK
Submitted by Shashank Tyagi, Enroll no. 30417001714 has been done under my
guidance and supervision in fulfillment of Bachelor of Business Administration.
The working analysis mentioned in this report has been undertaken by the
candidate himself and necessary reference has been recognized and acknowledged
in the text of the report.

Dr. Usha Nair

(Project guide)

ACKNOWLEDGEMENT
IT WOULD BE A GREAT PLEASURE FOR ME TO TAKE THIS
OPPORTUNITY IN THANKING EVERYBODY WHO HAD BEEN OF GREAT
HELP IN THE COMPLETION OF PROJECT. MY SINCERE GRATITUDE
GOES TO MR. Rahul Kalhans (Wealth Manager) MY ORGANIZATIONAL
GUIDE, WITHOUT WHOSE HELP THIS PROJECT WOULD HAVE SEEMED
IMPOSSIBLE.
AT THE SAME TIME I AM GREATLY OBLIGED TO THE FACULTY GUIDE
OF MY INSTITUTE DR. USHA NAIR FOR HER VALUABLE
CONTRIBUTION TO MY PROJECT.
IT HAS BEEN A GREAT LEARING EXPERIENCE TO BE ON THE JOB CUM
TRAINING AND DOING THE PROJECT SIMULTANEOUSLY, WHICH
ENRICHED MY KNOWLEDGE AND DEVELOPED MY OUTLOOK FOR
BECOMING A BETTER PROFESSIONAL ANTICIPATING WITH
CONVICTION THAT I HAD BEEN OF SOME HELP TO THEM. I WOULD
ALSO LIKE TO TAKE THIS OPPORTUNITY TO THANK ALL THE STAFF
MEMBERS AT Standard Chartered Karol Bagh FOR COOPERATING WITH
ME THROUGHOUT THE TENURE OR MY WORK THERE.

Shashank Tyagi

EXECUTIVE SUMMARY
THE COMPILATION OF THE PROJECT REPORT MEANT FOR
SUBMITTING TO THE FACULITY OF MAHARAJA AGRASEN INSTITUTE
OF MANAGEMENT STUDIES FOR THE PURPOSE OF THE EVALUATION
IN SUMMER TRAINING OF THE REQUIREMENT FOR THE BACHELORS
OF BUSINESS ADMINISTRATION (BBA).
THE DISSERTATION IMPARTS A DEDICATION & PERSPECTIVE
DISCUSSION ON THE COMPARITIVE ANALYSIS OF STANDARD
CHARTERED BANK WITH OTHER FOREIGN BANKS IN
COMPREHENSIVE AND CONCISE WAY ON THE BASIS OF TRAINING
WHICH WAS DONE BY ME IN STANDARD CHARTERED BANK. THIS
REPORT HAS BEEN WRITTEN FOR THE MEN OF MARKETING AS WELL
AS THE COMMONER. MARKETING IS THE HEART OF EVERY
ORGANISATION.

List of contents
Introduction
Industry profile
New Generation Banking
Business of Banking
Various types of deposits

Chapter 1
STANDARD CHARTERED A leading multinational Bank
of the country
A brief history of standard chartered Bank :

The early years

Expansion in Africa and Asia
The impact of war
Standard chartered in 1990s
Standard chartered Today

Chapter 2
Research Methodology
Objective

Sample size
Analysis of information

SWOT Analysis :

2.1

Strengths
Weaknesses
Opportunities
Threats

Chapter 3
Services
3.1

Services provided by standard chartered

3.2

Additional Services

Chapter 4
Account
4.1

Maintaining account with

Standard chartered

4.2

Comparison of saving accounts

With other banks of India

Conclusion
Recommendations
Bibliography
Annexure

INTRODUCTION
Standard Chartered is the worlds leading emerging markets bank. It employs
32000 people in over 500 offices in more than 56 countries in the Asia Pacific
region, South Asia, the Middle East, Africa, United Kingdom and Americas.
The bank serves both consumer and wholesaler banking customers. The
consumer bank provides credit cards, personal loans, mortgages, deposit taking
activity and wealth management services to individuals and medium sized
businesses. The wholesale bank provide service to the multinational, regional and
domestic corporate and institutional clients in trade finance, cash management,
custody, lending foreign exchange, interest rate management and debt capital
markets.
With nearly 150 in emerging markets the bank has unmatched knowledge and
understanding of its customers in its markets.
Standard Chartered recognizes its responsibilities lies to its staff and to the
communities in which it operates.

INDUSTRY PROFILE
The Indian banking can be broadly categorized into nationalized (govt. owned),
private banks and specialized banking institutions. The reserve bank of India acts
as a centralized body monitoring any discrepancies and short comings in the
system. Since the nationalization of banks in 1969, the public sector banks or the
nationalized banks have acquired a place of prominence and has since then seen
tremendous progress. The need to become highly customer focused has forced the
slow moving public sector banks to adopt a fast track approach. The unleashing of
product and services through the net has galvanized players at all levels of banking
and financial institutions market grid to look a new at their existing portfolio
offerings. Conservative banking practices allowed Indian banks to be insulated
partially from the Asians currency crisis. Indian banks are now quoting higher
valuations when compared to banks in other Asian countries i.e. Hong Kong,
Singapore, Philippines, etc. that have major problems linked to huge non
performing assets (NPA) and payment defaults. Co-operative banks are nimble
footed in approach and armed with efficient branch network focused primarily on
the high revenue niche retail segments. The Indian banking has finally worked up
to the competitive dynamics of the new Indian market and is addressing the
relevant issue to take on the multifarious challenge of globalization. Banks that
employ IT solutions are perceived to be futuristic and proactive players capable of
meeting the multifarious requirements of the large customer base. Private bank
have been fast on the uptake and are reorienting their strategies using the internet
as their medium. The internet has emerged as a new and challenging frontier of
marketing with the conventional physical world tenets being just as applicable like
in any other marketing medium.
The Indian banking has come from a long way from being a sleepy business
institution to a highly proactive and dynamic entity. This transformation has been
highly brought about by the large dose of liberalization and economic reforms that
allowed banks to explore new business opportunity rather than generating revenues
from conventional streams. The bank in Indian is highly fragmented with 30
banking units contributing to almost 50% of deposit and 60% of advances. Indian

nationalized banks continue to be the major lenders in the economy due to their
sheer size penetrative networks which assures them high deposit mobilization. The
Indian banking can be broadly categorized into nationalized, private banks and
specialized banking institutions. The reserve bank of India acts as a centralized
body monitoring any discrepancies and shortcoming in the system. It is the
foremost monitoring body in the Indian financial sector. The nationalized bank
continued to dominate the Indian banks arena. Industry estimate indicate that out of
274 commercial banks operating in India, 233 banks are in public sector and 51 are
in the private sector. The private sector bank grid also includes 24 foreign banks
that have started their operations here. Under the ambit of nationalized banks come
the specialized banking institutions. These co-operative, rural banks focus on the
areas of agriculture, rural development, etc. unlike commercial banks these cooperative banks do not lend on the basis of prime lending rates. They also have the
various tax sops because of their holding pattern and lending structure and hence
have lower overheads. This enable them to give a marginally higher % age on
saving deposits. Many of these co-operative banks diversified into specialized are
alike car finance, housing loans, truck finance, etc. in order to keep pace with their
public sector and private counterparts, the co-operative banks too have invested
heavily in IT to offer high end computerized banking services to its clients.

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NEW GENERATION BANKING

The liberalized policy of government of India permitted entry to private sector in

the banking; the industry has witnessed the entry of 9 new generation private
banks. The major differentiating parameter that distinguishes these banks from all
the other banks in the Indian banking is the level of services that is offered to the
customer. Verify the focus has always been centered on the customer
understanding his needs, preempting him and consequently delighting him with
various configurations of benefits and a wide portfolio of product and services.
These banks have generally been established by promoters of repute or by high
value domestic financial institutions. The popularity of these banks can be
gauged by the fact that in a short span of time, these banks have gained
considerable customer confidence and consequently have shown impressive
growth rates. Today the private banks corners almost 4% share of the total share
of deposit. Most of the banks in this category are concentrated in the high growth
urban areas in metros. With efficiency being the major focus, these banks have
leveraged on their strengths and competencies viz. management, operational,
efficiency and flexibility, superior product positioning and higher employee
productivity skills. The private banks with their focused business and service
portfolio have a reputation of being niche players in the industry.
A strategy that has allowed these banks to concentrate on few reliable high net
worth companies and individuals rather than cater to the mass market. These well
chalked out integrates strategy plans have allowed most of these banks to deliver
superlative level of personalized services. With the reserve bank of India allowing
these banks to operate 70% of their businesses in urban areas, this statutory
requirement has translated into lower deposit mobilization cost and higher margins
relative to public sector banks.

11

BUSINESS OF BANKING
Banking, in an additional sense is the business of accepting deposit of money
from public for the purpose of lending and investment. These deposits can have a
distinct feature of being withdraw able by cheque, which no other financial
institution can offer.
In additional to this banks offer various other financial services also which
include:
Issuing Demand Draft and Travelers Cheque
Collection of Cheque, Bills of Exchange
Safe Deposit Lockers
Issuing Letter of Credit & Letter of Guarantee
Sale and purchase of Foreign Exchange
Custodial services
Investment services

12

The business of banking is highly regulated since banks deal with money offered
to them by the public and ensuring the safety of this public money is the prime
responsibility of any bank. That is why banks are expected to be prudent in their
lending and investment activities. The major regulations and acts that govern the
banking business are:

Banking regulation Act

Reserve Bank of India Act

Foreign Exchange Regulation (amendment) Act, 1993

Indian Contract Act

Negotiable Instrument Act

Banks lend money either for productive purposes to individuals, firms, corporate,
etc. or for buying house property, car and other consumer durable and for
investment purposes to individuals and others. However banks do not finance any
speculative activity. Lending is risk taking. The risk should be covered by having
prudent norms for lending. The depositors of banks are also assured of safety of
their money by deploying some %age of deposits in statutory reserve like SLR &
CRR.

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VARIOUS TYPES OF DEPOSITS

BANK DEPOSIT
Banks basically offer two types of deposits:

Demand Deposit

Term Deposit

Demand Deposit - by its nature, are payable as and when the depositor makes
demand to pay. There are two types of accounts which are demand deposit in
nature. These are:

Saving Account

Current Account

Any amount can be deposited in these accounts at any time. The amount
deposited or a part of it can be withdrawn any time by using a cheque. However,
banks normally stipulate a minimum balance to be maintained in this account.

Saving Account - is offered only to individuals and non trading entities. Banks
also pay interest on saving account. The interest is paid on the minimum balance
held in the account between the 10 th and the last day of the month. The interest is
paid on a quarterly basis. The rate of interest is determined by RBI.

14

Current Account - can be opened in the name of individual or any firm or a

company. No interest is paid on the balances held in this account.

Term Deposit are the deposit where a fixed sum of money is kept for a
specific period and the money is repaid only of the expiry of this period. The
interest offered on these deposits depends upon the period of the deposit. Banks
accept term deposits for periods ranging from 15 days to 10 years. However, our
bank accept deposit for a maximum period of 5years. Banks are free to determine
the interest rates on the deposits. The interest is normally paid out every quarter.
But at the request of the customer, the interest is paid every month but at a
discount rate of interest.
Three most common forms of terms deposit are:

Fixed deposits

Reinvestment deposits

Recurring deposits

Fixed deposits are those where a fixed amount is deposited by the customer
for a certain period and interest on it is paid by the bank every quarter. On the
expiry of the term, the principal amount is paid back to the customer or the deposit
is renewed at the request of the customer.

Reinvestment deposit are similar to the fix3d deposit with the difference that
the interest is payable every quarter is compounded with the principle amount. In
effect, the interest on a reinvestment is paid along with the principle on maturity
only.

Recurring deposit is the deposit where a certain amount says 1000 is

deposited every month as a monthly installment for a certain period ranging from
6 months to 5 years. The total amount deposited over the period is paid with
accrued interest on maturity.

15

SCBs Deposit Products

Standard chartered bank offers the following deposit products in the addition to
above conventional deposits.

Cluster Deposit this is fixed or Reinvestment Deposit. The amount

deposited, say Rs. 10,000 each. The deposit thus offers a flexibility of partial
withdrawal in multiples of Rs.1000. the penalty is charged only on the amount
withdrawal.

Two in One Deposit this product has features of a fixed reinvestment

cluster deposit and a saving / current account. The cluster deposit is linked to a
savings account or current account. Thus, the customer can withdraw partial
amount from his cluster by issuing a cheque or using ATM card. He can also fund
either of these accounts. However, a subsequent term deposit can made with Rs.
10,000 or more. In case there more than one deposits in this account, the last
deposit is uplifted in case of withdrawal. When ATM is used to withdraw from
this account, the customer can withdraw only 75% of his deposit or Rs. 25,000 /whichever is lower. Two-in- one account with savings account can be opened
with a minimum amount of Rs.60,000 /- while that with a current account can be
opened with minimum Rs. 1,10,000 /-

Easy save / easy current account these saving and current account offer
special benefits to customers. At customers request the bank sends representative
to the residence or work place of the customer to complete the account opening
formalities. After opening the account, room service is provided for picking up
the cheque to be deposited in the customers account from any place.
Similarly, customer can request to deliver cash to self up to 20,000 by debiting
the account against a cheque to be handed over at the time of receipt of the cash.
In case the cash to be delivered to the third person, maximum up to Rs. 10,000 /is delivered only at the residence after identification. Request to deliver Demand
Draft and pay orders issued by debiting the account are also accepted.

16

While there no service charges for opening the account under room service, other
services provided is charged. The services are provided only if the average
balance maintained by the customer in savings account is Rs. 10,000 and in
current account is Rs. 25000. these services are available in two-in-one account
only if the link savings account has the average balance of Rs. 5000 along with
50,000 in the deposit account. In case of two-in-one with current account the
balance requirements are Rs. 100,000 in deposit account.

Business plus account - this is a current account which offers following

services to the customers. For this account the monthly average balance
should be Rs 50,000 or more.

Multicity Cheque books : These cheque are payable are payable at par at
Mumbai, Chennai, Calcutta and New Delhi branches. This virtually
facilitates the customer to conduct banking at any of these cities.

National Clearing Speed Service :

Cheque deposited for National

Clearing (drawn ay any of the four metro cities) by 4 p.m. are credited
within four working days.

Free Draft and Pay Orders :

Two drafts drawn in SCB and two pay

orders free of charge per day subject to a draft and 20 pay orders per quarter.

Other Free Services :

Cheque book, Certificate of Balance, FIRC and

standing instructions for fixed payments. Also if the balance is above Rs.1,
00,000, free stop payment and Outward Clearing Cheque returns.

Quarterly consolidated statement :

A consolidated statement for all the

deposits with bank.

Free demat account : No charges for opening a demat account.

17

 Special rates on advances : A discount on Professional Loan and Finance

against shares.

Chapter - 1
STANDARD
CHARTERED A leading
Multi National
Bank of the country
18

HISTORY OF STANDARD CHARTERED

Standard Chartered is the worlds leading emerging markets bank headquartered in
London. Its businesses however, have always been overwhelmingly international.
This is the summary of main events in the history of standard chartered and some
of the organizations with which it merged.

The early years

Standard chartered is named after two banks which merged in 1969. They were
originally known as the standard bank of British South Africa and the chartered
bank of India, Australia and china. Of the two banks, the chartered bank is the
older having been founded in 1853 following the grant of a royal charter from
Queen Victoria. The moving force behind the chartered was a Scott, James Wilson,
who made his fortune in London making hats. James Wilson went on to start the
economists, still one of the worlds pre-eminent publications. Nine years later,
1962, the standard bank was founded by a group of businessmen led by another
Scott, John Paterson, who had immigrated to the Cape Province in South Africa
and had become a successful merchant. Both banks were keen to capitalize on the
huge expansion of trade between Europe, Asia and Africa and to reap the
handsome profits to be made from financing that trade. The chartered bank opened
its first branch in 1858 in Chennai and Mumbai. A branch opened in shanghai that
summer beginning standard chartereds unbroken presence in china. The following
year the chartered bank opened a branch in Hong Kong and an agency was opened
in Singapore, a privilege to continue to exercise up until the end of the 19 th century.
Over the following decades both the standard bank and the chartered bank printed

19

bank notes in a variety of countries including chin, south Africa, Zimbabwe,

Malaysia and even during the siege of marketing in south Africa. Today standard
chartered is still one of the three banks, which prints Hong- Kongs bank notes.

EXPANSION IN AFRICA AND ASIA

The standard bank opened for business in Port Elizabeth, South Africa in 1863. It
pursued a policy of expansion and soon amalgamated with several other banks
including the commercial bank of Port Elizabeth, the Colesberg bank, the British
kaffarian bank and the Fauresmith bank. The standard bank was prominent in the
financing and development of diamond fields of Kimberly in 1867 and later
extended its network further north to the new town of Johannesburg when gold was
discovered there in 1885.
Over time half the output of the second largest gold field in the world passed
through the standard bank on its way to London. In
1892 the standard bank opened for business in Zimbabwe and expanded into
Mozambique in 1894, Botswana in 1897, Malawi in 1901, Zambia in 1906, Kenya,
Zanzibar and the democratic republic in Congo in 1911 and Uganda in 1912. Of
these new businesses, Botswana, Zanzibar and the D.R.C. proved the most difficult
and the branches soon closed. A branch in Botswana opened again in 1934 but
lasted only for a year and it was not until 1950 that the bank reopened for business
in Botswana. In Asia the chartered bank expanded opening offices including
Myanmar in 1862, Pakistan and Indonesia in 1863, they Philippines in 1872,
Malaysia in 1875, Japan in 1880 and Thailand in 1894. Some 34 years after the
chartered bank appointed an agent in Sri Lanka it opened a branch in 1892 to take
advantage of businesses from the tea and rubber industries. During 1904 a branch
opened in Vietnam. Both the chartered and the standard bank opened offices in
New York and Hamburger in the early 1900s. The chartered bank gaining the first
branch license to be issued to a foreign bank in New York.

20

STANDARD CHARTERED IN THE 1990s

Even within this period of apparent retrenchment the standard chartered expanded
its network, re-opening in Vietnam in 1990, Cambodia and Iran in 1992, Tanzania
in 1993 and Myanmar in
1995. With opening of branches in Macau and Taiwan in 1983 and 1985 plus a
representative office in Laos, the Standard chartered now has office in every
country in the Asia pacific region with the exception of North Korea. In 1998
standard chartered concluded the purchase of a controlling interest in Banco
exterior de Los Andes an Andean region bank involved in trade finance. With this
purchase standard chartered now offers full banking services in Colombia, Peru
and Venezuela. In 1999, standard chartered acquire the global trade finance
businesses of union bank of Switzerland. This acquisition makes standard
chartered one of the leading clearers of the dollar payment in the U.S.A. standard
chartered also opened a new subsidiary, standard chartered Nigeria Ltd. in Lagos,
acquired 75% of equity of Nakornthon bank Thailand and agreed terms to acquire
89% of the share capital of metropolitan bank of Lebanon.

21

STANDARD CHARTERED TODAY

Today standard chartered is the worlds leading emerging markets bank employing
30,000 people in 500 offices in more than 50 countries primarily in countries in
Asia pacific region, south Asia, Middle East, Africa and the Americas.
The new millennium has brought with it two of its largest acquisition in the history
of bank with the purchase of Grindlays bank from the ANZ group and the
acquisition of chase consumer banking operations in Hong Kong in 2000.
These acquisitions demonstrate standard chartered firm commitment to the
emerging markets, where we have a strong and established presence and where we
see our future growth.

22

Chapter 2
RESEARCH
METHODOLOGY

23

REASEARCH METHODOLOGY AND LIMITATIONS

Data collection has been done from both sources primary as well as secondary and
also by questionnaire.

Primary data: by meeting various managers of the Standard Chartered bank,

Kotak Mahindra, ABN-AMRO bank, ICICI, and HDFC.

Secondary data: from newspaper, magazines, Internet.

Questionnaire: questionnaire was filled by both account holder of Standard
Chartered bank as well as by non account holder of Standard Chartered bank.

Limitations: in the meetings manager were not ready to give the correct figure
as regards turn-over of the company.

24

OBJECTIVES
No research is useful if it does not have any research objective. Research objective
tells the researcher as for what kind of information or results, the research has to be
carried out. Without the research objective, the researcher will not be able to carry
out research and without any research, objective it will not be of any use.
1.

To examine the working of STANDARD CHARTERED BANK.

2.
To identify and assess customer satisfaction level of the customers of
STANDARD CHARTERED BANK and to suggest measures for improvement of
services rendered, depending on the customer satisfaction level.
3.
To understand customer requirement and expectations and uncover the
relationship of STANDARD CHARTERED BANK services factors & attributes
that derive customer loyalty.
4.
Measure STANDARD CHARTERED BANK performance in each factor
and attribute and clearly understand to what extent customers expectations in the
different segments are met.
5.
Identify STANDARD CHARTEREDS competitive strengths and
Weaknesses of each factor foe resource prioritization.

25

SAMPLE SIZE

TOTAL NUMBER OF QUETIONNAIRE FILLED.

= 50.
AREA IN WHICH SURVEY WAS CONDUCTED.
= SOUTH DELHI
= EAST DELHI
= NCR.(NOIDA,GHAZIABAD)
NUMBER OF QUETIONNAIRE FILLED IN SOUTH DELHI, EAST DELHI & NCR.
= SOUTH DELHI 10
= EAST DELHI 18
= NCR - 22.

26

1.1 SWOT ANALYSIS

STRENGTH

Market position is strong

Aggressive foreign bank
Shareholders return has grown more than 7 times
Maintain a position as a leading Asian cash management provider
Brand SCBs modern and dynamic look appeals to the growing middle
income earners
On of the most profitable MNC in India
Improved product proposition
Better geographic balances
Multi-cultural organization that offers opportunities to good managers

27

WEAKNESS

HDFC, ICICI, ABM-AMBRO, KOTAK and HSBC are dominant players

Has disadvantage due to last entry
Fewer locations as compared to other MNC banks
Service delivery reception is weak

28

OPPORTUNITIES

Branch expansion for rapid growth

Increase focus on value creation in whole banking
Improve shareholders return
Build market share in consumer banking as consumer banking continues to
offer highest potential for growth
Broadening of the demographic base
Tie ups with master card networks
Integrated sales and service approach
Can offer a complete corporate package into under proposed corporate
relationship

29

THREATS

IDBI is pitching in quite aggressively

Citibank is expanding in new markets
Competitive products and offers from ICICI and HDFC
Proposed networking of all branches in next 6 months
Reduced business in OECD business

30

Chapter 3
SERVICES

31

Services provided by standard chartered

Through the network of over 500 offices in more than 50 countries, standard
chartered offers personal financial solution relevant to you as an individual,
standard chartered treasure building a relationship with the customer, developing
an understanding of customers changing financial needs at different stages of your
life. Their long heritage of nearly 150 years has enabled them to change with time,
offering quality products by means that are convenient to customer.

Standard chartered offer includes:

Personal finance.
Credit cards.
Priority banking.
Investment advisory services.
Personal investments.
Insurance.
Deposits and Retail services
Retail FX products.

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1. PERSONAL FINANCE.
Mortgages
In many of the markets where standard chartered operate, especially in key markets
of Hong Kong, Singapore, Malaysia, they are reported to be the market leader for
mortgages. Their experienced and dedicated teams will guide the individual in
every single step to enable him a smooth and hassie-free experience, offering him
rates and repayment packages most suitable, start by trying our instant approval
service.

Unique features:

Low interest rates, option of flat or reducing interest rates.

Low EMI (equated monthly installments).
No hidden costs like processing charge. Everything is done up front.
Quick approval and realization.

33

 Tax benefits.
No unfair collateral demands.
A simple mortgage process.

Personal loans
Standard Chartered bank helps the customer to de in control of his/her own
finances. Personal loans, without any guarantees or collaterals, are available to
customer to meet specific credit needs. Choose installment loan or Revolving loan,
whatever suits best. Whether planning a vacation, re-decorating home, paying for
childs college education, or simply wish to have a standby line of credit for
unforeseen expenses, Standard Chartered Banks personal loans can help fulfill the
dreams.
Personal loan is specially designed to get the money need in time, without having
to answer unnecessary questions, and without any collateral or mortgages.

Unique features:
Choose the repayment plan most convenient, ranging from a compact 12months period to a comfortable 36-month span.

Free to use the money for renovating house or meeting some

unexpected expenses etc.
No collateral or security.
Quick and easy processing.

34

2. CREDIT CARDS
Standard Chartered visa and MasterCard credit cards
Standard Chartered credit cards provide financial flexibility, worldwide
acceptance, and round- the- clock convenience.

Benefits:
Welcomed at the largest number of merchant outlets across the world.
Revolving credit facility, allowing repaying card outstanding over
time, at a convenience.
Cash withdrawal in local currency at Visa and MasterCard linked
ATMs across the world.
Platinum, Gold or Classic cards to suit lifestyle and needs.
Smart credit cards with special privileges and security.
Attractive rewards programs.

35

 Affinity and co branded credit cards that give additional benefits from
our partners.
World-class service assistance and 24-hour customer help line.

3. PRIORITY BANKING
Experience new Standards in banking. And lead a life of privilege and preferred
financial solutions tailored perfectly for you with priority banking from Standard
Chartered.
Designed specially for those who appreciate only finest things in life, priority
banking offers the very highest levels of personalized banking to match unique
status.
By embracing a holistic approach to financial well being and commitment to
personal Wealth Management with a full range of innovative products and services,
a customer will find banking with a reassuring and secure experience.
Bank is committed to helping a plan, build and protect wealth by offering
individual attention as well as international and investment opportunities to meet
current and future needs.
Standard Chartered bank priority banking is created specifically for a chosen few
individuals, who will settle for nothing but the best and demand the highest
Standards of services in all your banking relationships.

Unique features:

36

 Personalized priority card will give instant recognition of priority

status at all branches of Standard Chartered bank, worldwide.
A dedicated customer relationship Manager trained to understand
specific financial needs and help to manage assets at home and
abroad. It is as personalized as can be.
Preferential pricing on our various products.
Entitled to exclusive benefits.
A complimentary pre-approved Gold Standard credit card.
Special foreign exchange rates.
Special invitations to exclusive events.
Many account facilities, which are absolutely free of charge.

4. INVESTMENT ADVISORY SERVICES

The Standard Chartered investment advisory services is comprehensive process
that assists in planning for future. With this service, they can help to review
financial goals, conduct a financial health check, evaluate risk profile and asset
allocation plan to realize financial aspirations.

5. PERSONAL INVESTMENTS
Standard Chartered is the leading independent distributor of unit trusts and mutual
funds in Asia. Because they dont actually manage their own investment funds,
they are absolutely objective in fund evaluation process. Bringing unmatched

37

around the world, it can be assured of different investment options and a wealth of
informative and relevant updates.
With trained investment services consultants from countries around the globe, they
can help to make the right investment decisions. Using a unique risk evaluation to
gauge the level of risk customer can be comfortable with, coupled with a
proprietary fund evaluation process to identify funds, assess risks and shortlist topperforming funds; customer can be ensured of a personalized investment portfolio
catered to needs.
Standard Chartered Bank investment services puts a whole new whole new world
of possibilities within the reach of people who would like to achieve their financial
goals but have many other demands on their time.

Unique features:
A one-stop offering a wide range of investment options to grow your
wealth.
Available across 8 cities.
Trained investment services counselors.
Sophisticated research franchise.
Impartial and unbiased analysis on options best suited.
Tailor made investment plans suited to risk taking ability.

38

6. INSURANCE

Standard Chartered recognizes the things important to customer and his family.
They are dedicated to protecting the customer, his family, and his hard earned
assets and even his future earning giving him the assurance he needs.
Their strategic alliance with prudential and CGU insurance puts us in a very strong
position to provide for life and General Insurance needs. With a comprehensive
range of products, Standard Chartered is set to protect the world

7. DEPOSITS AND RETAIL SERVICES

Deposits
Standard Chartered offers a wide array of deposit products in both local and
foreign currencies to help to earn competitive interest rates. Their international
network offers an extra convenience while abroad. In some countries, they offer
premium interest savings plans like Higher Education Funds to turn the dreams
into reality.

Retail services
Standard Chartered offers a comprehensive range of retail services in many
countries. These includes:
Automated banking services.
Demand drafts.
Foreign exchange services.
Local and foreign currency cheques.

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 Safe deposit boxes.

Telegraphic transfers.
Travelers cheques.

8. RETAIL FX PRODUCTS
Standard Chartered is now offering valuable customers an easy and flexible way to
invest in foreign currencies. They provide high flexibility to enable sophisticated
investors to capitalize on opportunities in the currency markets.

Some of the Retail FX products include:

FX Margin Trading.
Currency Trading.
Premium Currency Deposit.
Principle Protected Currency Deposit.

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ADDITIONAL SERVICES
1. INTERNET BANKING
Youre banking needs now taken care of at the click of a mouse. With secure
Internet ID and Password, a customer can login and take care of his/her banking
and credit card needs at his/her convenience and time. No more queues, no more
waiting.

2. PHONE BANKING
As part of commitment to meeting all needs, Standard Chartered offer Phone
Banking A service that enables you to access a wealth of financial information,
24 hours a day, 7 days a week.

Through Phone Banking:

Check your account balance.

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 Get details about specific transactions.

Inquire about the status of a particular cheque.
Order demand drafts.
Transfer funds amongst your linked accounts.
Get information on deposit rates, lending rates, exchange rates and bank
charges.
Access information an any of our products and services.
Call room services to open your account.
Make complaints and suggestions.

3. MOBILE AND E-MAIL ALERTS

Standard Chartered always try and make life simple. Mobile and E-mail Alerts
service is designed just for that.

4. SMART FILL DEBIT CARD

Smart fill Debit card, launched in association with Bharat Petroleum, will help to
save on fuel purchases and even gets you free fuel.

Unique features:
Earn reward points every time you use the card to make purchases anywhere,
which you can then redeem for fuel at select Bharat Petroleum outlets.

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 When the card is use to make purchases at select Bharat Petroleum outlets, the
customer dont have to pay the 2.5% surcharge levied on most credit or debit
cards.
Smart fill debit card is globally valid. It gives access to 12 millions merchant
establishments worldwide and over 55,000 in India.
A customer can access over 3500 ATMs in India for FREE* and over 750,000
ATMs worldwide through the Visa ATM network.
The card gets an exclusive discount of 5% at select In & Out stores at Bharat
Petroleum outlets, besides benefits at leading retail outlets and restaurant.

5. ATM
Standard Chartered ATMs give the freedom to conduct most of the banking
transactions 24 hours a day, 365 days a year.
The ATM card is and absolutely free. There are no transaction charges on the use
of the card.
Whats more, use ATM card at any of the 70 ATM centers across the country.

6. CREDIT CARD HELP-LINE

As part of commitment to meeting all needs, Standard Chartered offer the facility
of calling them over the phone to access a wealth of information on credit cards, 24
hours a day, 7 days a week.

7. ELECTRONIC CLEARING SYSTEM

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Standard Chartered introduces ECS (Electronic Clearing system), an innovation

facility for busy people. With this facility, card bill amount automatically gets
debited from your saving bank account.
So that customer doesnt have to worry about last minute payment rush, since this
entire process happens through the Reserve Bank of India electronic clearing
mechanism, customer can enjoy the advantages of ECS.

8. FAX BANKING
Its the most efficient way to stay on top of the business finance. Every day,
Standard Chartered fax a report of all transaction made the previous day, customer
will still receive his/her regular monthly statements.

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Chapter 4
ACCOUNTS

45

MAINTAINING ACCOUNTS WITH STANDARD

CHARTERED

DEPOSITS

DEMAND DEPOSITS

SAVINGS A/C

TIME DEPOSITS

CURRENT A/C

FIXED DEPOSITS

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AXCESS PLUS A/C

SUPER VALUE A/C

PARIVAAR A/C SARAL A/C

DEMAND DEPOSITS

SAVINGS ACCOUNT
Standard chartered introduces aXcess plus a revolutionary savings account that
provides with unparallel access to money. An account primarily opened for and
operated by individuals, wherein the numbers of transactions are few and which
give the customer liquidity with the facility to earn some interest on the residual
balance.
With the aXcess plus account the customer can now aXcess cash at over 1800
ATMs in India to free and at over 6,50,000 ATM worldwide through the visa
network. Besides he can use his account to shop for goods and services at over
25,000 outlets in India and at 10 million outlets worldwide, without ever handling
to carry cash.
The aXcess Plus account provides with a globally valid debit card that provides
these and a host of other exciting benefits.

47

Unique features
There are several unique features about the standard chartered banks aXcess Plus
account, each designed to provide the most convenient banking experience can
ever get!
Free aXcess to cash at over 1800 ATMs in 35 cities in India
Globally valid debit card
The debit can be used to make purchase at over 25,000 merchant outlets in
India and at over 10 million outlets worldwide.
Phone banking, internet banking, Multicity banking and 365 days
branches, extended banking hours, lockers facility and doorstep banking.
Unique free insurance benefits lost card insurance, purchase protection
and personal accident cover.
Exciting usage benefits such as travel cash back discount on air fair, rasoi
ongoing privileges in restaurants, fabdeals special privileges for shopping
at select merchant outlets etc.

2 in -1 Account
A unique account that offers you double advantage letting you earn the high
interest rate of a fixed deposit while you enjoy the flexibility of a savings and
current account.

Unique features:
Earn fixed deposit interest rates

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 Enjoy the flexibility of a saving or a current account

Free personalized cheque book and ATM card
Flexibility of withdrawing money wherever you need it
Deposit more money in your account to earn higher rate of interest by
simply filling a subsequent deposit slip
Phone banking for current account related information at your fingertips.

2-in-1 Account interest rates

Tenor

Rate of interest (% p.a.)

15 days 29 days

3.75%

30 days less than 46 days

4.00%

46 days less than 2 months

4.00%

2 months less than 3 months

4.00%

3 months less than 6 months

4.00%

6 months less than 9 months

4.25%

9 months less than 12 months

4.25%

12 months less than 18 months

4.25%

18 months less than 24 months

4.25%

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24 months less than 36 months

4.25%

36 months less than 48 months

4.50%

48 months less than 60 months

4.50%

60 months

4.50%

Above interest rates are offered by standard chartered bank and are subject to
change without prior notice. Deposits of Rs. 15 lakh and above may be opened for
tenors starting 7 days.

Procedure:
On opening a 2-in-1 account two accounts are opened an FD and a transaction
account .The FD earns the high interest rates and the transaction account is used as
a normal savings or current account.
In case you need to withdraw amounts in excess of what is available in your
transaction account we will break your deposit for the exact amount you require.
The rest of the deposit continues earning the original high interest on the amount
withdrawn you will lose only 1% of the interest rate you are eligible for.

PARIVAAR ACCOUNT
A unique wealth management solution that offers the entire family flexibility and
tools for wealth accumulation and preservation.

Unique features:

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 A family can maintain individuals savings account with the benefit of

clubbing balances in the grouped accounts
Attractively priced health insurance options to protect against
unforeseen events
Free accident hospitalization cover of Rs. 50,000 for the primary
account holder
Free access to accounts through 5500 ATMs in the country at all
branches of the bank and through phone banking and internet banking
Option of systematic Investment Plan (SIP) the best known long term
wealth building tools that allows customers to invest a fixed amount of
money every month in specific mutual fund. This comes with a direct
debit facility and avoids the need to remember dates and write cheque
every month
Globally valid ATM-cum-debit card can be used at 55000 merchant
outlets in India and 12 million outlets worldwide
Up to 4 free cash withdrawals per account every month at other banks
ATMs in India through the visa ATM network. Unlimited free
transaction at all SCBs ATM.

CURRENT ACCOUNT
An account opened and operated primarily by corporate for commercial use
wherein the numbers of transactions are much higher than a normal savings
account.

Unique features:

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 High liquidity
Unlimited transaction
Zero interest
Any branch banking

CONCLUSION
With years of banking experience, Standard Chartered is undoubtedly in a strong
position to help growing business sail through the complexities they may face.
Standard Chartered Bank offers one of the widest range of banking products and
services in the market today. Managing a growing business demands most of your
time and energy. That is why working with the right bank can help ones business
sail more smoothly and Standard Chartered Bank helps in doing that as it
understands todays business requirements.
The bank provides the right kind of services and accounts at the right time and
according to the need of market.
The expertise of Standard Chartered with over 150 years experience, global
network of 500 offices in 56 countries making it one of the leading providers of
treasury financial services.
As the largest independent distributor of third party funds, Standard Chartered
gives investors choice, unbiased evaluation of funds and a portfolio management
account that matches your risk profile and investment goals.

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Not only this, the bank provides the widest range of foreign currencies for your
investment needs plus other products such as housing loan, insurance and unit
trusts.
Standard Chartered Bank well developed remote channels for your banking
convenience through our 24-hour phone banking and internet banking.
Foreign banks in India are subject to the same regulations as scheduled banks.
Currently about 25 foreign banks are licensed to operate in India. Foreign bank
branches in India finance trade through their global networks.
All commercial banks including Standard Chartered face stiff restriction on the use
of both their assets and liabilities. Forty percent of loan must be directed to
priority sectors and the high liquidity ratio and cash reserve requirements
severely limit the availability of deposits for lending. Since July 1993, foreign
Banks like Standard Chartered have been require to make 32 percent of their loans
to the priority sector. Within the target of 32 percent, two sub targets for loans to
the small scale sectors (minimum of 10 percent) and exports (minimum of 12
percent) have been fixed.
Foreign banks, however, are not required to open branches in rural areas, or to
make loans to the agricultural sector.
Therefore on the completion of this project the following conclusions have been
derived.
Standard Chartered bank has been working in various fields of banking and
has grown as one of the leading banks of India.
The customers satisfaction level can be judged by the questionnaire filled
by various customers during the research process.
The customers satisfaction level can be judged by various positive answers
received during the questionnaire filling process.

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 The Standard chartered bank has always been aware of its weakness and
strengths and is also aware of its prospective opportunities and threats
through regular SWOT analysis.

RECOMMENDATIONS
1. STRONG NEEDS OF BRAND BUILDING
The bank needs to make a lot of marketing efforts. The level of recognition that
may be desired by any brand has not been achieved by Standard Chartered Bank. A
lot of noise is made whenever a child is born and as long as that noise is not made
the doctors are not sure about life of that child. Same is the case in marketing.
Whenever a new branch comes into existence it is necessary that they announce
there birth. Here comes the pre-launch exercises, and in similar in the case after the
birth, the name has to be taken again.
Promotional strategies
Press publicity:
Paper inserts
Advertisements in newspaper (local and national)
Interest cards distribution

54

 Mailers/personal invitations to selective section of society

Leaflets
Outdoor publicity

Banners in commercial areas and prime sites

Air balloons at shopping complexes
Bus stand shelters
Off site ATM for developing business
Advertisements on dividers and railings

Media
Local channel advertisements (cable TV scrolls)
Advertisements in news and business channels

Face to face

Through personal interaction of marketing executives.

Meeting
Detailing about schemes and updating them from time to time
Events sponsoring in local clubs and social gathering
Road shows

Senior citizens, housewives , students, service class

Educational bodies
Local clubs like young clubs, laughter club, senior citizen club,
ladies club, etc
Commercial places and market establishment

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2. NEED A CHANGE IN MARKETING FOCUS

The marketing team of the branch has until now focused on selling of their most
competitive product, which are there fixed deposits. The rates of interest, which
they provide on fixed deposits, are really competitive and highest in the market.
But this strategy could not be held for a longer period of time as in the long run
it would become liability to the bank to pay such high rate of interest and it
would lower the revenues of the branch. Even the survey conducted proved that
the fastest selling product is savings account amongst the consumer. With a
network that is good enough this bank can make efforts to increase the market
share in the area where the competition is so tough. This needs a brain storming
from the top management in the branch as to how about fixing the targets in
each category of accounts.

Solid network required to develop the business further

If we see the results of the survey, it is evident that people prefer strong network
system to make their banking life as comfortable and reachable as possible. For
Standard Chartered bank to enjoy a good customer base, they should make efforts
towards developing more and more ATM in the cities and extension counters to
facilitate better and fast service. Updating of technology from time to time is very
necessary. Standard Chartered bank was the very first bank to start few of the very
good services like internet banking, bringing about new services to attract more
and more consumers should carry on this tradition further.

Corrective positioning of Standard Chartered bank

Standard Chartered bank is known for its corporate operations. Very big names in
the corporate world have their account with the bank. For the past so many years it
has been catering to these clients only and has generated an image of being a
corporate bank. The product extension into the retail segment need separate focus
and separate positioning in the market. The bank cannot carry on its old image for

56

both segment of market. For this a distinctive advertising campaign has to be

developed (refer to the promotional activities stated earlier) to reposition the brand
in potential consumers mind. It should be noted that both the type of clients differ
from each other in their true nature. One is a very low profile relationship, which
talks about masses. This type of client requires assurance, trust, information and
support. This is retail banking. While on the other hand the second type of
relationship is stronger, which is the corporate client that requires different setup
all together.

BIBLIOGRAPHY

www.banknetindia.com
www.rbi.org.in
www.economictimes.indiatimes.com
www.indianfoline.com
www.finance.indiamart.com/investment_in_india/banks
www.standard.chartered.broacher.and.mannuals
www.finance.indiamart.com/investment_in_india/banks.html
www.indianfoline.com/nevi/bank.html

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www.finanace.indiamart.com/investment_in_india/standar
d_chartered_bank.html
www.abn_amrobank.com
www.hdfc.com
www.icicibank.com
www.standardchartered.com
www.standardchartered.com/in
http://economic.indiatimes.com/banking/bn11299.html

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