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COMPARATIVE ANALYSIS OF KOTAK MAHINDRA BANK

SALARY ACCOUNT WITH ITS COMPETITORS

A report submitted to Accurate Institute of Management and Technology, Greater


Noida as a mandatory part of PGDM curriculum

Submitted to: Submitted by:

Dr. RAJEEV BHARDWAJ RISHI KAPOOR

PGP CELL, AIMT PGDM 08-10

Greater Noida. ROLL NO- DM08078

ACCURATE INSTITUTE OF MANAGEMENT AND TECHNOLOGY

49, Knowledge Park III, Greater Noida-201306.


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E-mail-pgpcell@accurate.in

FOR MORE DETAIL ABOUT THE PROJECT


MAIL ME ON

Rishi548gmail.com

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DECLARATION

I Rishi kapoor, Son of shri Raj kapoor here by declared that the project entitled

which is being submitted in partial fulfillment of the requirements for the awards of

degree of PGDM from the Accurate Institute Of Management & Technology is an

own record carried out by me under the supervision of Mr.Punish Khurana Project

Head and Senior Manager, (KOTAK BANK). The matter embodied in this project

has not been submitted so far for the award of any degree or diploma.

Rishi Kapoor

Course: PGDM

College: Accurate Institute of Management &


Technology

Greater Noida
(U.P)

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TABLE OF CONTENTS

Contents Page

Acknowledgements 2

Declaration 3

List of Tables 4-5

Executive Summary 6

List of Illustrations/Diagrams 7

Chapter 1: 8-34

Introduction 8

History of banking 9-10

Banking system in India 11-15

Kotak Mahindra bank 16-21

Kotak Product Line 22-32

Objective 33-34

Chapter 2: 35-44

The Reserve Bank of India 35-37

Marketing 38-40

Competitors 41-44

Chapter 3: 45-55

Features and Benefits - Kotak Ace Salary Account 45-49

Salary Account Features of Kotak And Others 50

SWOT Analysis of Kotak Mahindra Bank 51-54

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Issues and Challenges for The Company 5 55
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Executive Summary

The service industry is one of the fastest growing sectors in India today. The

upcoming sectors, which are really showing the graph towards upwards, are Telecom,

Banking, and Insurance. These sectors really have a lot of responsibility towards the

economy. Main focus of this report is based on of the COMPARATIVE ANALYSIS

OF KOTAK MAHINDRA BANK SALARY ACCOUNT WITH ITS COMPETITOR

Kotak Mahindra is one of India's leading financial institutions, offering complete

financial solutions that encompass every sphere of life. From commercial banking, to

stock broking, to mutual funds, to life insurance, to investment banking, the group

caters to the financial needs of individuals and corporate. The project report gives an

insight about the salary account of Kotak Mahindra bank and throws the lights upon

the SWOT (Strengths, weakness, opportunities, threats) analysis of bank.

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LIST OF TABLES

NAME OF TABLE Page no

SOME OF THE IMPORTANT MILESTONES OF KOTAK MAHINDRA


GROUP 19

SALARY ACCOUNT FEATURES OF KOTAK AND OTHERS 50

LIST OF CHARTS/FIGURES
Name of chart/Figure Page No
Growth Story of Kotak Group 20

KOTAK SYMBOL 21

HIERARCHY OF RBI 40

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HISTORY OF BANKING

How did banking originate? What activity resulted in Banking, as we know it today?

To answer these questions it is necessary to step back into history to several

thousands of years and study its origins.

Barter

Man was, in the dawn of history, simple and self-sufficient. He lived in caves, killed

animals when hungry and he had no other wants. As time passed, men began living in

villages and started to till the ground. Often the produce of a farmers fields was more

that he required. Similarly, a fisherman often caught more than his family required. In

the ideal situation, the farmer would exchange his produce for fish with the fisherman.

This exchange is known as barter. And in the ideal world they would both be content.

However, a complication could and would arise if the farmer did not require or want

fish. If the farmer required a plough and the smith requires steel there would be

tremendous and horrendous difficulty in matching those that individuals had with that

which they needed. And it was on account of this difficulty of meeting needs that the

barter system surrendered to money.

Money

Money was created or rather born to reduce the value of the items people had to a

common denominator to facilitate exchange of products to satisfy needs. The

fisherman would sell his fish as would the farmer for money. The farmer would then

armed with the money he has in hand purchase a plough. The fisherman with the
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money he has received, would buy the food he needs for his family.

The earliest form of money was bones on which marks were made to distinguish

between values. Metals then began to be used the most popular being gold, silver

and bronze. Symbols, sizes and signs on these differed from time to time and from

country to country. As men began to travel from country to country to exchange

goods and to trade, banking was born.

The term money is derived from the temple of Juno Moneta which was used by the

Romans as a mint for their coins.

Banking

Banks were born to facilitate trade to lend monies to purchase goods, to store

monies and to change currencies. Banking began thousands of years ago. The

Assyrians, Babylonians and Ancient Greeks practiced simple forms of banking

safekeeping, exchanging foreign coins and making loans mainly in connection with

trade. Temples such as those of Ephesus and Delphi were Greek banking institutions.

The Romans did not have State Banks but had minute regulations regarding private

banks. These were calculated to create utmost confidence in the system. Ancient

Rome had two types of bankers those who made loans and those who exchanged

foreign monies.

The term bank is derived from the Italian word banco which means bench. The

early bankers, the Jews of Lombard, transacted their business at benches in the market

place and later in inns and taverns. In those days if a banker failed, his banco or

bench was broken, hence the term bankrupt. Another opinion is that the term

bank evolved from the German word back meaning a joint stock fund which was

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Italianised into banco. As many of these inns/taverns were known by the signs they

had such as eagle, crossed swords etc.

BANKING SYSTEM IN INDIA

The Banking System in India consists of :

Reserve Bank

Development Banks

Public Sector Bank.

Foreign Banks

Private Sector Banks

Cooperative Banks

Regional Rural Banks

The Reserve Bank of India

The Reserve Bank of India is the Central Bank of the Country and came into being by

the Reserve Bank of India Act 1934. It was nationalized in 1948.

The bank that issues and regulates the issue of currency in India

The banker to the Government of India and the State governments. It

manages the public debt. It has the obligation to transact the banking business

of the Central Government. It undertakes to accept money on behalf of the


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Government and make payment on its behalf.

The bankers bank. Commercial banks maintain their current account

with the Reserve Bank of India.

The bank that manages the volume of credit created by the

commercial banks to ensure price stability.

The bank that manages the external value of the currency (Indian

rupee)

The lender of Last Resort. It will lend to banks in trouble.

Development Banks

These were set up to give long term finance for the development of the country.

These are the Industrial Finance Corporation of India and the Industrial Development

Bank of India, The Industrial Reconstruction Bank of India and the National Bank for

Agriculture and Rural Development. A former development bank, the Industrial

Credit and Investment Corporation of India Ltd. by a reverse merger in 2002, became

a normal commercial bank. It is expected that the other development banks, having

outlived their utility would also be either converted to commercial banks or merged

with commercial banks.

Public Sector Banks

These are banks which the Government either owns or has a majority stake in.

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The largest is the State Bank of India,which was formed by the merger of the

Presidency Banks the Bank of Bengal, the Bank of Bombay and the Bank of Madras

in 1921. It was then known as the Imperial Bank. It was nationalized in 1955 by the

passing of the State Bank of India Act, 1955. It has seven subsidiaries or associates.

The other nationalized banks came into being on July 19, 1969 when Mrs. Gandhis

Government nationalized fourteen banks that had deposits of Rs. 50 crores or more.

On April 15, 1980, six more banks having demand and time liabilities of not less than

Rs.200 crores were nationalized. This was done to take banking to the villages and

serve the developmental needs of all sectors of the economy.

Foreign Banks

These are branches of banks incorporated outside India.

The larger ones that have been operating in India for many years are Standard

Chartered Bank, Citibank, American Express Bank, ABN Amro, BNP Paribas and

Hong Kong and Shanghai Banking Corporation.

In 1995/ 96 many other foreign banks (optimistic in view of Indias liberalization)

opened branches in India. However, after banking began to become increasingly

competitive and margins began to squeeze coupled with large non-performing assets,

many banks closed their branches. These include Dresdner Bank, Comerz Bank, KBC

Bank and Commercial Bank of Siam.

Private Sector Banks

These banks are not government owned or controlled. Their shares are freely traded

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in the Stock Markets.

These may be divided into:

Old Private Sector Banks such Federal Bank, Dhanalakshmi Bank,

Catholic Syrian Bank

New generation Banks such as HDFC Bank, IDBI Bank, UTI Bank

and ICICI Bank. Those have permitted to open provided they had a

capital of Rs. 100 crores.

Cooperative Banks

Cooperative Banks are those that created by a group of individuals to support either a

community or a religious group. They operate in metropolitan, urban and semi urban

centers to cater to the need s of small borrowers.

These are controlled by the RBI and by State Cooperative Acts.

In recent years these have been under a cloud on account as several (particularly in

Gujarat and Andhra Pradesh) collapsed under controversy. They were used as vehicles

by individuals to finance activities which did not succeed.

Regional Rural Banks

These came into being on October 2, 1975 when 5 regional rural banks were

established under what became the Regional Rural Banks Act 1975. These were to

bridge the gap in rural credit granting loans and advances to small and marginal

farmers, artisans, small entrepreneurs and persons of small means engaged in trade,

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commerce, industry or other productive activities within their area of operation.

Local Area Banks

Local Area Banks came into existence in 1999 and licences were given for these

banks as it was felt that regular commercial banks were not financial the rural/

agricultural sector adequately. Licences have given to open branches in three districts.

Branches in urban/ semi urban areas have granted only after ten branches were

established in rural areas/ villages. Four licences were in total granted two in

Andhra, one in Punjab and one in Gujarat. They have opened with an initial capital of

Rs. 5 crores. A Report issued in 2002 has recommended that the capital should

increased to Rs. 25 crores and that these be permitted to operate in six districts.

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KOTAK MAHINDRA BANK

Kotak Mahindra is one of India's leading financial institutions, offering complete

financial solutions that encompass every sphere of life. From commercial banking, to

stock broking, to mutual funds, to life insurance, to investment banking, the group

caters to the financial needs of individuals and corporate.

The group has a net worth of over Rs. 2,900 crores, employs around 8,800 people in

its various businesses and has a distribution network of branches, franchisees,

representative offices and satellite offices across 282 cities and towns in India and

offices in New York, London, Dubai and Mauritius. The Group services around 2

million customer accounts.

In October 2005, Kotak Group acquired the 40% stake in Kotak Prime held by Ford

Credit International (FCI) and FCI acquired the stake in Ford Credit Kotak Mahindra

(FCKM) held by Kotak Group.

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In May 2006, Kotak Group bought 25% stake held by Goldman Sachs in Kotak

Capital and Kotak Securities

Kotak Mahindra Bank, one of Indias leading private sector banks today announced a

major landmark opening of its 100th full fledged bank branch in Saket, New Delhi.

This is a record feat as Kotak Mahindra Bank is the only private sector bank in India

which has reached its 100th bank branch in just 4 years, a feat that none of the other

private sector banks in India have achieved till date.

Mr. Uday S. Kotak is an Executive Vice Chairman and Managing Director at Kotak

Mahindra Bank Limited. He has been with the firm since August, 2002. Mr. Kotak is

the principal Founder and Promoter at Kotak Mahindra Finance Ltd. He is responsible

for the growth of Kotak Mahindra from a fledgling finance company to a financial

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institution providing the full basket of financial services. Mr. Kotak has over 18 years

of experience in the financial services industry. He is Chairman and Director of Kotak

Mahindra Primus Limited. Mr. Kotak is also Director of Kotak Mahindra Bank

Limited. He is a Director of Kotak Mahindra Asset Management Company Limited.

He is the Chairman of Kotak Securities Ltd. He is also on the board of the following

subsidiary companies of Kotak Mahindra Bank Limited: Kotak Securities Limited,

Kotak Mahindra Capital Company Limited, and OM Kotak Mahindra Life Insurance

Company Limited. Previously, he has served as Non Executive Director of Blue Star

Limited until October 2002. He is a Member of Advisory Committee of National

Stock Exchange of India Ltd. Mr. Kotak, received a Post-graduate degree in Business

Administration from Jamnalal Bajaj Institute of Management Studies of Mumbai

University

Kotak Mahindra Bank amongst Hewitts Top 25 Best Employers

Mumbai, April 17, 2009: Kotak Mahindra Bank, one of Indias leading private banks

has bagged the Hewitt Best Employers in India award for the second time in a row.

Mr. Subhro Bhaduri Executive Vice President-HR, Kotak Mahindra Bank received the

Award. Speaking on the occasion Mr. Bhaduri said, We are indeed very proud to be

the recipients of the Prestigious Hewitt-Outlook Business Best Employers in India

Study for the second time. Our People practices are aligned to our culture and values

and this makes Kotak Mahindra Bank a preferred employer in the industry. Through

significant time, energy and investment in people

Management practices and processes, we have been able to maintain Kotak Mahindra

Bank as one of the Best Employers in India in 2009.


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An independent jury comprising of has selected the Hewitt Best Employer awardees

eminent members from the industry and academic world. The 2009 study also

introduced new research initiatives to evaluate how new dimensions such as personal

values, CSR, and workplace diversity impact human capital management for business

growth and witnessed participation from over 230 organizations. The views of over

800,000 employees have been represented by over 46,000 employees across India,

making this one of the largest employee research studies conducted in the country.

SOME OF THE IMPORTANT MILESTONES OF KOTAK MAHINDRA

GROUP
1986: Kotak Mahindra Finance Limited starts the activity of Bill Discounting
1987: Kotak Mahindra Finance Limited enters the Lease and Hire Purchase Market.
1990: The Auto Finance division is started
1991: The Investment Banking Division is started. Takes over FICOM, one of India

Enters the Funds Syndication sector


1995: Brokerage and Distribution businesses incorporated into a separate Company -

Kotak Securities. Investment Banking division incorporated into a separate Company

- Kotak Mahindra Capital Company


1996: The Auto Finance Business is hived off into a separate company - Kotak

Mahindra Prime Limited (formerly known as Kotak Mahindra Primus Limited).

Kotak Mahindra takes a significant stake in Ford Credit Kotak Mahindra Limited, for

financing Ford vehicles. The launch of Matrix Information Services Limited marks

the Groups entry into information distribution.


1998: Enters the mutual fund market with the launch of Kotak Mahindra Asset

Management Company.
2000: Kotak Mahindra ties up with Old Mutual plc. for the Life Insurance business.

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Kotak Securities launches its on-line broking site (www.kotaksecurities.com).

Commencement of private equity activity through setting up of Kotak Mahindra

Venture Capital Fund.


2001: Matrix sold to Friday Corporation Launches Insurance Services
2003: Kotak Mahindra Finance Ltd. converts to a commercial bank the first Indian

Company to do so.
2004: Launches India Growth Fund, a private equity fund.
2005: Kotak Group realigns joint venture in Ford Credit; Buys Kotak Mahindra

Prime (formerly known as Kotak Mahindra Primus Limited) and sells Ford credit

Kotak Mahindra. Launches a real estate fund.

Growth Story of Kotak Group

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KOTAK SYMBOL

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KOTAK PRODUCT LINE

SAVINGS ACCOUNTS

Our Savings Accounts are designed to ensure you receive the benefits of quick &

convenient banking transactions along with options for your money to earn high

returns. The savings account goes beyond the traditional role of savings, to provide

you a range of services from funds transfer options to online payments of bills to

attractive returns earned through a comprehensive suite of investment options.`

We have a number of variants of our savings accounts customized to suit your

individual needs so pick the one that matches your requirements & sit back to enjoy

the Kotak experience!

TERM DEPOSITS

Kotak Mahindra Bank brings you Term Deposit at highly attractive interest rates

coupled with special facilities like Overdraft and Re-investment option.

Features & Benefits

Ease and convenience of operation not a Kotak Bank customer and wish to apply for

term deposit online?

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For the first time in India, New To Bank customer can also apply online for term

deposit.

If you are an existing customer, you can place a term deposit through Phone Banking

or Net Banking. What's more, you can even renew this deposit by placing an

instruction over phone. Needless to mention, he can do all this and more by walking

across into any of our branches.

Liquidity through overdraft or sweep-in facility your deposit will be available to you

should you need them in case of an emergency. You can avail up to 85% overdraft

against your term by paying 2% above your deposit rate. This facility is available for

deposits above Rs.50,000 for a tenure of 181 days or more. You can also choose to

link your term deposit to your savings / current account, whereby if need be, your

term deposit will automatically be encased to meet your withdrawal requirement.

No penalty on pre-mature encashment In case your term deposit is pre-maturely

encased, you will earn interest at the rate prevailing on the date of deposit for the

withdrawn amount.

Nomination facility available You can avail this facility for each & every account that

you open with us i.e. nominate different persons for different term deposit accounts.

You can choose to change the nominee through a declaration in the appropriate form

to revise the nomination during the term of the deposit.

In case you are availing the 2-Way-Sweep feature, nomination, if any, made by you in

respect of the savings / current account for which you are availing this feature will be

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deemed to be the nomination for any sweep TD created pursuant to the Active Money

feature availed by you.

DEMAT ACCOUNT

We offer streamlined, efficient depository services that allow you to hold your shares

in convenient, "demat" formats and leverage opportunities in the stock market when

you spot them.

Our services include

Dedicated and trained Customer Care Officer to handle and answer all your

queries.

Highly competitive service charges. For the current charges on our demat

services

Three in one account Demat, Trading, Bank have all in one account. For

details

Free Online access to your Demat account

We also cater to the debt requirements of companies, including the issue of

Commercial Paper, Certificate of Deposits, etc. We also provide a composite

Demat account that can hold Equity shares as well as Government Securities,

Bonds etc.

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LIFE INSURANCE

Kotak Mahindra Old Mutual Life Insurance Ltd.

Kotak Mahindra Old Mutual Life Insurance is a 74:26 joint venture between Kotak

Mahindra Bank Ltd. and Old Mutual plc. Kotak Mahindra Old Mutual Life Insurance

is one of the fastest growing insurance companies in India and has shown remarkable

growth since its inception in 2001.

Old Mutual, a company with 160 years experience in life insurance, is an international

financial services group listed on the London Stock Exchange and included in the

FTSE 100 list of companies, with assets under management worth $ 400 Billion as on

30th June, 2006. For customers, this joint venture translates into a company that

combines international expertise with the understanding of the local market.

MUTAL FUND

Kotak Mahindra Asset Management Company Limited (KMAMC)

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Kotak Mahindra Asset Management Company Limited (KMAMC), a wholly owned

subsidiary of KMBL, is the Asset Manager for Kotak Mahindra Mutual Fund

(KMMF). KMAMC started operations in December 1998 and has over 4 Lac

investors in various schemes. KMMF offers schemes catering to investors with

varying risk - return profiles and was the first fund house in the country to launch a

dedicated gilt scheme investing only in government securities.

We are sponsored by Kotak Mahindra Bank Limited, one of India's fastest growing

banks, with a pedigree of over twenty years in the Indian Financial Markets. Kotak

Mahindra Asset Management Co. Ltd., a wholly owned subsidiary of the bank, is our

Investment Manager.

We made a humble beginning in the Mutual Fund space with the launch of our first

scheme in December, 1998. Today we offer a complete bouquet of products and

services suiting the diverse and varying needs and risk-return profiles of our investors.

We are committed to offering innovative investment solutions and world class

services and conveniences to facilitate wealth creation for our investors.

CAR FINANCE

Kotak Mahindra Prime Limited (KMPL) is a subsidiary of Kotak Mahindra Bank

Limited formed to finance all passenger vehicles. The company is dedicated to

financing and supporting automotive and automotive related manufacturers, dealers

and retail customers.The Company offers car financing in the form of loans for the

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entire range of passenger cars and multi utility vehicles. The Company also offers

Inventory funding to car dealers and has entered into strategic arrangement with

various car manufacturers

HOME LOAN

Why are home loans the best way to materialize your dream? The reasons are simple

and straight-forward. The decision to buy a home is one of the biggest financial

decisions that an individual takes. There are many concerns that an individual

grapples with while considering his requirements, because a home often truly

represents the wholeness of his personality and aspirations. Whatever the purpose of

buying a home is - whether it is a place to reside in, an investment in property to avail

capital appreciation, or a source of rental income, availing a home loan is today the

most convenient and best way to realize ones dream.

At Kotak Mahindra Bank, we offer highly customized facilities of availing home

loans. Importantly, we appoint a dedicated manager who takes customers through the

entire process, starting with the filling in of the application forms and culminating in

the loan disbursement process. This otherwise seemingly difficult process is made

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simpler and more convenient for the customer. Sometimes, customers are unable to

spare that extra time from their hectic schedules, and the Bank Doorstep Service

makes the home buying process seamless and pleasurable. A relationship that is happy

from the start is extended through the attention the customer gets through his loan

repayment tenure and beyond.

Features & Benefits

The key advantages of Kotak Mahindra Bank Home Loans are:

High Eligibility for Businessmen

Doorstep Service

Attractive Interest Rates

Simplified Documentation

Insurance Options to cover your home loans at attractive premium

Quicker Turnaround time

PERSONAL LOAN

Our quick and easy Personal Loans are called Jaldi Loans. Our Personal Loans help to

make a difference in your life. No matter what your financial needs are - unexpected

expenses, school fees, wedding in the family, home improvement or that long awaited

vacation. Whatever the occasion, our range of Personal Loans can help.

The procedure is simple, documentation is minimal and approval is quick.


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Features and Benefits

Avail loans from Rs.50,000 - 50 lakh*: You can avail of a loan from Rs.50,000 - 50

lakh* for any purpose based on your income and repayment capacity and fulfill all

your financial needs.

Quick approval: With a Jaldi Loan, you are not far away from making your dreams

come true. In as less as 72 hours you can turn your dreams into reality.

Minimal paperwork & hassle free processing: Our minimal document requirements

leave you tension and hassle free. Additionally, worries are kept at bay, as no security

or collateral is required.

Flexible repayment options: Our flexible loan tenors range from 12 - 60 months for

salaried customers and 12- 36 months from businessmen / professionals, which don't

overburden you with a worry to pay heavy EMIs.

Convenience of service at your doorstep: Our Jaldi Loans are just a phone call away;

you can fix an appointment with any of representatives and they could assist you in all

your loan formalities.

Customer privileges:

If you are a Kotak Mahindra Bank account holder, we have special rates for

you.

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If you are an auto / personal / home loan customer or are a credit card holder

or paying an insurance premium or enjoying an OD/CC facility avail of instant

loans without income documents.

If you are an existing Kotak Mahindra Bank Personal Loan customer with a

clear repayment of 12 months or more, we can Top-Up your personal loan.

COMMERCIAL LOANS

FIRST Group (FG) represents the asset arm of Kotak Bank which offers a one stop

shop for all financial needs of customers of Transportation, Logistics, Infrastructure,

and Tractor Industries.

Through our varied products, we commit ourselves to becoming banker to the

customer rather than being asset financier to our customers.

The FIRST Groups services offered include :-

PRODUCT PORTFOLIO

Commercial Vehicle Financing

Infrastructure Financing

Tractor and Farm Equipment Financing

SARAL Loans

Working Capital Financing

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GOLD

Kotak Mahindra Bank brings you Gold Eternity, 24 Carat pure gold coins and bars,

carrying a 99.99% Assay Certification, signifying the highest level of purity as per

international standards.

Manufactured in Switzerland by PAMP, one of the worlds premier gold

refiners and a brand recognized world wide as a guarantee of excellence and

quality

Certified by one of the top assayers in the world

Tamper proof packaging to ensure the purity of the gold bar

Unique number on every certicard, with records maintained in Switzerland

Competitive pricing based on daily pricing in the international bullion market

Kotak Gold Eternity come to you in varied denominations. You can choose

from a range of coins and bars in 5gm, 8gm, 20gm, 50 gm and 100 gm.

CURRENT ACCOUNT

At Kotak Mahindra Bank, we know how critical it is for your business to have quick

and timely access to funds. We also understand how important smooth and seamless

banking transactions are for business relationships.

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Our Current Accounts have been designed to help you compete effectively in the

contemporary business environment. They include a 2 Way Sweep feature that

delivers liquidity combined with higher returns.

Features and Benefits

Minimum Account Balance required is Nil

2 Way Sweep for liquidity and higher returns

Free-up country cheque collection for 13 locations

Personalised Cheque book

KOTAK CREDIT CARDS

FORTUNE GOLD CARD


INTEREST FREE CASH WITHDRAWALS
ZERO CHARGE EMI
2.5% FUEL SURCHARGE WAIVER
0% BALANCE TRANSFER
FREE FOR LIFE

TRUMP GOLD CARD


10% CASH BACK ACROSS ALL RESTAURANTS
10% CASH BACK ON MOVIES AND PLAYS
ZERO CHARGE EMI
2.5% FUEL SURCHARGE WAIVER
FREE FOR LIFE
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LEAGUE PLATINUM CARD
EXCLUSIVE DINING BENEFITS AT THE TAJ
AUTO ENCASHMENT OF REWARD POINTS
SMS US AND WE WILL REACH YOU
LOST OR STOLEN CARD FRAUD COVER

ROYALE SIGNATURE CARD


SPECIAL CONCIERGE SERVICES TO ASSIST YOU
ENJOY GOLF PRIVILEGES WORLDWIDE
AUTO ENCASHMENT OF REWARD POINTS
LOST OR STOLEN CARD FRAUD COVER
EXCLUSIVE DINING BENEFITS AT THE TAJ

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Project at glance:

COMPARATIVE ANALYSIS OF KOTAK MAHINDRA BANK SALARY


ACCOUNT WITH ITS COMPETITORS

Objective:

The main of the present study of is accomplish the following objective.

Proper understanding and analysis of banking industry.

To know about brand awareness of Kotak Mahindra Bank and

customers preference about Kotak Mahindra Bank.

Conduct market survey on a sample selected from the customer and

derived opinion on that research.

Along with it I will be gaining the thorough knowledge of banking

sector. This will give me in more confidence in marketing products

given to me.

As the Kotak Mahindra Bank well reputed bank in India its great

chance for me to observed different products launch by other

competitor companies like ICICI BANK, HDFC BANK etc.

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RESERVE BANK of INDIA

Establishment

The Reserve Bank of India was established on April 1, 1935 in accordance with the

provisions of the Reserve Bank of India Act, 1934.

The Central Office of the Reserve Bank was initially established in Calcutta but was

permanently moved to Mumbai in 1937. The Central Office is where the Governor

sits and where policies are formulated.

Though originally privately owned, since nationalization in 1949, the Reserve Bank is

fully owned by the Government of India.

Main Functions

Monetary Authority:

Formulates, implements and monitors the monetary policy.

Objective: maintaining price stability and ensuring adequate flow of credit to

productive sectors.

Regulator and supervisor of the financial system:


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Prescribes broad parameters of banking operations within which the country's

banking and financial system functions.

Objective: maintain public confidence in the system, protect depositors'

interest and provide cost-effective banking services to the public.

Manager of Foreign Exchange

Manages the Foreign Exchange Management Act, 1999.

Objective: to facilitate external trade and payment and promote orderly

development and maintenance of foreign exchange market in India.

Issuer of currency:

Issues and exchanges or destroys currency and coins not fit for circulation.

Objective: to give the public adequate quantity of supplies of currency notes

and coins and in good quality.

Developmental role

Performs a wide range of promotional functions to support national objectives.

Related Functions

Banker to the Government: performs merchant banking function for the

central and the state governments; also acts as their banker.

Banker to banks: maintains banking accounts of all scheduled banks.

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HIERARCHY OF RBI

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MARKETING OF KOTAK

Marketing at Kotak Mahindra Bank categorizes in to four departments - Marketing

Communications, PR & Corporate Communications, Marketing Activation &

Marketing Operations. These departments act as an advisory and support channel

towards marketing strategies and PR planning to ensure effective brand building

through brand awareness and visibility. The objective is to implement effective

campaigns and promotions which would help in meeting the business targets and

getting media coverage for the same.


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We provide support at two broad levels - Branch Marketing and Central Marketing.

Marketing Activation

All marketing activities done at a branch level come under branch marketing. This

may be in the form of new branch launches, branch based events, sales promotions,

merchandising, and creation of any marketing collaterals for the branches. Branch

centric PR & outdoor support also comes under the branch marketing.

Promotion Documents

Promotion proposal

Please fill the promotion proposal once the branch finalizes a promotional activity

Provide a description of the activity that you wish to undertake.

Please mention if any Special Offers like AQB waiver etc are required. (For all AQB

related offers approvals from Amit Pathak, & Amresh Mohan are necessary.)

Other details like Venue, activity period needs to be filled in correctly.

If you need any marketing or promotion material please specify the correct quantity

Detail out planned cost break up for any sponsorship or manpower that you need for

the activity.

Give the planned promotion output in form of planned leads and conversions. We can

then match them with the actual leads and conversions post the activity.

Branch Manager or any relevant authority needs to approve the activity.

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To download a copy of a promotion proposal please click here

Promotion Codes

Promotion codes are generated to track the efficiency of the activity. Marketing

generates the code once the activity is approved.

Marketing Communications

Marketing Communications takes care of the creation, rollout and analysis of all

national campaigns at the brand and product level. This includes doing various brand

and product campaigns as well as researches to monitor the growth of the brand and

the campaign deliveries. This department also takes care of creative conceptualization

and rollout of all regional requests (events, promotions, contests, campaigns) Central

marketing also provides support to both the product team and the branches in terms of

conceptualizing and standardizing marketing collaterals. These include standard

branch collaterals like posters, banners, e-mailers, brochures etc.

Process for all Marketing Collaterals

Please fill in the creative brief with all relevant details which will help us to

understand your requirements and design appropriate collaterals for you. Please

ensure that the creative brief is filled in detail so that the creative team gets an

accurate understanding of the requirement. Partially filled briefs / requests without

creative brief will not be entertained.

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After receiving the creative brief marketing would come up with design of the

collaterals and share it with the concerned team

All collaterals will be subject to compliance/legal approval

Post compliance/legal approval the collaterals would be put into print.

Post campaign you are requested to send the details of the leads captured / business

sourced, so that we can have an understanding of the effectiveness of the campaigns.

All regional requests need to be routed through the respective Regional Marketing

Manager for that region.

COMPETITORS

HDFC BANK

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 the RBI's liberalisation of the Indian
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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.

ICICI BANK

ICICI Bank is India's second-largest bank with total assets of Rs. 3,793.01 billion

(US$ 75 billion) at March 31, 2009 and profit after tax Rs. 37.58 billion for the year

ended March 31, 2009. The Bank has a network of 1,471 branches and about 4,721

ATMs in India and presence in 18 countries. ICICI Bank offers a wide range of

banking products and financial services to corporate and retail customers through a

variety of delivery channels and through its specialized subsidiaries and affiliates in

the areas of investment banking, life and non-life insurance, venture capital and asset

management.

SBI BANK

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The origin of the State Bank of India goes back to the first decade of the nineteenth

century with the establishment of the Bank of Calcutta in Calcutta on 2 June 1806.

Three years later the bank received its charter and was re-designed as the Bank of

Bengal (2 January 1809). A unique institution, it was the first joint-stock bank of

British India sponsored by the Government of Bengal. The Bank of Bombay (15 April

1840) and the Bank of Madras (1 July 1843) followed the Bank of Bengal. These

three banks remained at the apex of modern banking in India till their amalgamation

as the Imperial Bank of India on 27 January 1921.

Primarily Anglo-Indian creations, the three presidency banks came into existence

either as a result of the compulsions of imperial finance or by the felt needs of local

European commerce and were not imposed from outside in an arbitrary manner to

modernize India's economy. Their evolution was, however, shaped by ideas culled

from similar developments in Europe and England, and was influenced by changes

occurring in the structure of both the local trading environment and those in the

relations of the Indian economy to the economy of Europe and the global economic

framework.

AXIS BANK

Axis Bank was the first of the new private banks to have begun operations in 1994,

after the Government of India allowed new private banks to be established. The Bank

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was promoted jointly by the Administrator of the specified undertaking of the Unit

Trust of India (UTI - I), Life Insurance Corporation of India (LIC) and General

Insurance Corporation of India (GIC) and other four PSU insurance companies, i.e.

National Insurance Company Ltd., The New India Assurance Company Ltd., The

Oriental Insurance Company Ltd. and United India Insurance Company Ltd.

The Bank today is capitalized to the extent of Rs. 359.76 crores with the public

holding (other than promoters) at 57.79%.

The Bank's Registered Office is at Ahmedabad and its Central Office is located at

Mumbai. The Bank has a very wide network of more than 853 branches and

Extension Counters (as on 30th June 2009). The Bank has a network of over 3723

ATMs (as on 30th June 2009) providing 24 hrs a day banking convenience to its

customers. This is one of the largest ATM networks in the country.

The Bank has strengths in both retail and corporate banking and is committed to

adopting the best industry practices internationally in order to achieve excellence.

SOME OTHER COMPETITORS ARE.

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Features & Benefits - Kotak Ace Salary Account

EDGE Privileges

You need a savings avenue that makes the most of your hard-earned money. We offer

you the Kotak Edge Salary Account, armed with Kotak ActivMoney and our entire

gamut of Banking Privileges. The feature rich Kotak Edge Salary Account is the ideal

way to make your money work harder.

Activ Money

Your Kotak Edge Salary Your Kotak Ace Salary Account combines liquidity of a

Savings Account with the attractive returns of a Term Deposit through the unique

Kotak Activ Money benefit.

Kotak Advantages

Your Ace Salary account comes to you with a host of advantages that are aimed at

providing you a superior Banking experience.

Free At-par Cheques

Kotak Mahindra Bank's At-par cheques are treated as 'local clearing' cheques

across select locations in the country. The At-par Cheque facility comes to you

'free' of charge. You can now save DD making charges while enjoying the

convenience of a cheque.

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Free Demand Drafts

Avail Demand Drafts, free of cost, payable at any location in India, up to a

pre-specified limit, just by calling our Phone Banking Service.

Free Cheque Collection

Outstation cheques, drawn on any of our branch locations, would be collected

'free of charge' for you. Only a nominal charge is levied for non-branch

locations.

Free Electronic Fund Transfer Transfer

Transfer funds to third party accounts in other banks, without drawing a

Demand Draft or a cheque, by using our Electronic Fund Transfer facility.

With this facility you can save on Demand Draft making/couriering charges

and also transfer funds faster!

Bill Pay Services

This service enables you to make your Utility Bill payments like electricity,

telephone and mobile phone bills.

Ace Privileges

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Your Ace account has been designed with exclusive benefits that give an extra fillip

to your banking experience.

Free Demat Account

As an Ace Savings customer, you can also open a Demat Account with us

free of charge.

Reimbursement Current Account

As Salary account holders employees can also opt for a Reimbursement

account which helps you to manage the official reimbursements, petty cash

etc., this facility specifically will help you eliminate cash handling related to

petty expenses

Family Savings Accounts

Your Ace account allows you to now extend the Kotak banking experience to

three of your family members. The Family Savings Accounts come to you

with a host of benefits like Kotak ActivMoney, At-par Cheque facility and

other attractive features. So now even your dear ones can enjoy banking the

'Kotak way'!

Your savings account will be provided a link to your online trading account

with Kotak securities to enable your to transfer funds from your bank account

to your account with KS and vice versa". And with our Payment Gateway

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facility you can even pay your trading bills online from your bank account

directly.

Free Investment Account

Avail a free Investment Account that provides you a consolidated view of all

your investments. The Investment Account statement gives a 'single window

view' of your Mutual Fund portfolio, listing the NAV of each scheme invested

into, current consolidated value of your portfolio, and realized/unrealized

returns against each investment made.

Personal Investment Advisor

To identify and analyse your specific investment requirements we provide you

a dedicated Personal Investment Advisor. This person alerts you to investment

opportunities, sends you regular updates and feedback on the performance of

your investments, helping you monitor, manage and grow your wealth in the

ever fluid investment climate.

Convenience Banking

A host of Convenience Banking facilities allow you to access your account anytime,

anywhere.

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Global Debit Card

Access your account free of cost at any VISA ATM in India or abroad using

your Global Debit Card. You can use your Debit Card at all VISA affiliated

merchant establishments worldwide. As an Ace Savings account holder you

can gift free add-on cards to your family members too.

Phone Banking

Dial our 24 hour Toll Free number 1800 116022 (North India) OR 1800

226022 (Rest of India) from anywhere and our customer Care Officer will

help you instantly with your banking requirements.

Net Banking

Just log on to www.kotak.com to access our Net Banking facility. Take

advantage of the Internet to bank from home, office or anywhere in the world

at a time of your convenience.

Mobile Banking & Alerts

Use this service to access your bank account anywhere, anytime! It is quick

and easy, available to you 24X7 and its absolutely free! You dont have to pay

any charge to avail this service. You can use Mobile Banking to check account

balance, last 3 transaction details, issued cheque status and request a cheque

book. You can use Alerts Service to get Alerts by SMS and / or email

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whenever a debit or credit above any amount specified by you happens to your

account.

SALARY ACCOUNT FEATURES OF KOTAK AND OTHERS

S.NO. Column1 Column1


S. FEATURE SALARY2WEALTH
NO 1 Minimum
S 17,000 10,000 12,000
Average Salary
2 Minimum 20 10 25
Number Of
Employees
3 Reimbursement YES YES YES
Account
4 Term Deposit YES, Sweep In Yes but only YES: But not
Sweep threshold of Rs sweep In automated
20,000 & Sweep Out
at Rs 10,000,
Automated, 2 way
sweep
5 Investment Available to all NA NA
Account employees

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6 Investment Available to all Only to selective Only to
Advisory employees customers- selective
Services Available to all customers-
Available to all
7 Account Monthly Free Quarterly Free Quarterly Free
Statements
8 Free Online Bill YES YES YES
Payments
9 Salary Alerts on YES YES YES
Mobile
10 Net Card YES NA NA
11 Account In a week's time. In a week's time- Instant
Opening & ( can provide instant Instant kit
Welcome Kits kits only for selective facility
CAT A companies)
12 Online Purchase/ Redeem NA NA
Investment Mutual fund of 23
AMCs

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SWOT ANALYSIS OF KOTAK MAHINDRA BANK

COMPETITIVE ADVANTAGE

SWOT ANALYSIS

Environmental Scan

Internal Analysis External Analysis

Strength Weaknesses Opportunities Threats

SWOT Matrix

STRENGTHS

1. The Kotak Mahindra group which is one of the largest financial instiutions in

India, ever since its inception in 1986 the Kotak Mahindra group has created

numerous success stories in whatever business they landed. It gives kotak

mahindra insurance company an advantage to enjoy the already existing

goodwill of kotak mahindra group.

2. The kotak Mahindra bank providing good personalized service to their salary

account, they give salary account according to the need of the customer.

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3. Kotak Mahindra Company has been rewarded with Kotak Mahindra Bank

amongst Hewitts Top 25 Best Employers this depicts the actual

performance of the organization in terms of its efficiency.

4. The company spends less on marketing so it actually has more finances

available to sustain the growth of the company and provide better returns to

the customers.

5. Kotak Mahindra bank offers the most flexible, innovative unique products

and features such as free Global Debit Card, Active Money which surely

gives it a competitive edge over the competitors.

6. The distribution channel is amazing with a wide reach as the company has

offices all over India in more than 60 cities.

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WEAKNESS

1. The company does not spend much on marketing and it actually may be a

reason for not being a market leader among the private players.

2. The company has yet to make any significant presence in the rural sector as

the brand name is yet not famous in the rural India.

3. The company has a conservative approach and they believe in steady and very

safe progress , which actually results them to be in a position where they are

behind some of the more aggressive market players like ICICI

4. In India the rural market and middle class society still dont have faith in

private insurers and their genuinity.

5. Kotak Mahindra bank offers have very less no of branch and ATM.

OPPORTUNITIES

1. The whole rural market is a kind of niche segment for opening of accounts,

deposits, borrowings, and insurance business. So, kotak is at par with all

other private companies and the its an equal competition for all, there is an

opportunity to make a mark and be the first among the private bank and

capture the rural market.

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2. The Kotak being such a big name has an opportunity to grow its insurance

business as well increase its distribution channel whole over the world by

using the goodwill of the group companies and they can even target the

customers of each company of their group to get insurance through them by

offering special incentives or schemes.

3. The good showing at the stock markets and growing Indian economy

enables the kotak company to give better .

4. The kotak Mahindra should come also lover segment.

THREATS

1. The rural India and middle class India still do not have faith in private players.

2. The Kotak Mahindra bank is competing with private companies, which are

spending huge amounts on marketing, so to maintain a competitive edge with

these companies in terms of acquiring market shares would be a tough task.

3. Now a days every cost is very important feature for Kotak, bank should

reduce the cost and control the pricing.

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ISSUES AND CHALLENGES FOR THE COMPANY:

1. The company doesnt spend much on marketing and it actually may be a

reason for not being a market leader among the private players.

2. The company has yet to make any significant presence in the rural sector

as the brand name is yet not famous in the rural India.

3. The company has a conservative approach and they believe in steady and

very safe progress , which actually results them to be in a position where

they are behind some of the more aggressive market players like ICICI

4. In India the rural market and middle class society still dont have faith in

private bank and their genuinity

The kotak mahindra bank is competing with private companies which are spending

huge amounts on marketing, so to maintain a competitive edge with these companies

in terms of acquiring market shares would be a tough task.

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RESEARCH OBJECTIVE

Our main objective was to find out that customer are satisfy with their salary account

or not. The main problem was how they use banking service. On which area bank

need improvement. The accountholder is happy with the services provided by bank.

To get all information a thorough planning had to be done, so I first started with

designing the questionnaire for the clients whom I was going to target and to know

about their investment pattern. The main things to be known from the clients were:

1. Are they happy with bank

2. Which channel they use

3. Other product they use

4. area of improvement

Research Methodology:

Research Methodology is the basic framework, which provides guidelines for the rest

of the research process and a way to systematically solve the research problem. It is a
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map or a blue print according to which the research is to be conducted. The research

methodology specific to this project is as follows.

Type of Research

Research type for this project includes surveys and fact-finding enquiries of different

kinds. The research aims at gathering information about effectiveness of Promotional

strategies of Kotak Mahindra Bank.

Research Requirement

A research design is master plan specifying the methods and procedures for collecting

and analyzing the needed information. Here is our project we adopted the descriptive

(sample survey) and analytical research method.

Research instrument

There is various way of research instrument of collecting primary data, the various

methods are:-

1. Questionnaires.

2. Psychological tools.

3. Mechanical Devices.

4. Qualitative Measures.

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From the above mentioned research instruments I had used only Questionnaires

technique to find out the various information about the clients such as their turnover,

chartered accountant, investment behaviors, who is their financial consultant etc. And

this was the technique which I felt the best way to extract information about the client.

Sampling Plan

Like in many marketing research project where making a census study of the entire

universe would be impossible an account of limitations of time and money. Hence

sampling becomes inevitable, in the study also, sampling is done to gather

information from the market place. However the success of the sample truly

represents that of the universe.

Sample size

100 questionnaires for Kotak Mahindra Bank customers.

Data collection Method

Data collection is an elaborate process in which researcher makes a planned search for

all relevant information. Here in this project we have used both the primary and

secondary data.

Major company we take

Business Standard Limited

Franchise India Holdings Ltd.

Pen 2 Print

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Primary data: Questionnaire

Secondary data:Kotak Mahindra Bank Website

ICICI, HDFC Bank Website

Books

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Q1. How do you find the salary account provided by Kotak Mahindra Bank?

Q2. Do you have any other product of Kotak Mahindra Bank except Salary Account

(like Term Deposit, Demat Account, Insurance, Mutual Fund, Home loan, Personal

loan, car loan, etc)?

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Q3. Are you satisfied with your salary account?

Q4.Which channel you use to Access your Account?

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Q5. Are you satisfied with your Relationship Manager Service?

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Q6. Do you receive updates on new product feature, various investment products

offering?

Q7. What are the area of improvement?

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FINDING

According the survey people are satisfied with their salary account

they are happy with the product and offerings.

Salary account customer do not have third party product like Term

Deposit, Demat Account, Insurance, Mutual Fund, Home loan,

Personal loan, car loan, etc).

Salary account customer are not satisfy with the service of bank and

the service provide by the relationship manager

Very less people are using Mobile or SMS banking

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CONCLUSION AND RECOMMENDATION

The customer of Kotak Mahindra Bank is highly satisfy with the product and

service of the bank means bank have done good work on that.

The very first thing that Kotak Mahindra Bank required to increase the

infrastructure means bank need to open new branches across the india.

Now Kotak Mahindra Bank is well known brand in the financial market so

bank have to enter in the mass banking

Apart from premier banking Kotak Mahindra Bank have to increase the reach

and come on lower segment.

Urban market is saturated now bank have to focus on to the rural market

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REFERENCES
In order to obtain more information regarding the present study and to substantiate it
with theoretical proof, the following references were made

Websites visited:

www.kotak.com

www.rbi.org.in

www.google.com

www.icicibank.com

www.hewittasia.com

MAGAZINES:

BUSINESS TODAY

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QUESTIONNAIRE CORPORATE SALARY ACCOUNTS

1 How do you find the salary account provided by Kotak Mahindra Bank?

(a)Excellent (b) Very Good (c) Good (d) Satisfactory (e)


Poor

2 Do you have any other product of Kotak Mahindra Bank except Salary
Account (like Term Deposit, Demat Account, Insurance, Mutual Fund,
Home loan, Personal loan, car loan, etc)?
(a) Yes (b) No

3 Are you satisfied with your salary account?


(a) Yes (b) No

4 Which channel you use to Access your Account?


(a) Direct Branch (b) Phone Banking (c) Net Banking (d) Mobile Banking

5 Are you satisfied with your Relationship Manager Service?


(a)Yes (b) No

6 Do you receive updates on new product feature, various investment


product offering?

(a)Yes (b) No

7 What are the area of improvement


(a) Service (b) Product (c) RM (d) Technology (e)Updates.

8 Suggestions:

...

NAME :...

COMPANY :
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CELL NO. :

SIGNATURE :

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