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Customer perception towards J&K Bank
AT
Submitted To:-
Mr.Mushtaq Ahmad Khan
Incharge marketing Division
Zonal office,central, Kashmir
Submitted By:-
S Surjeet singh
Contact991529
6427,9797946264,
Email:surjeetsodhi59@gmail.com
ACKNOWLEDGEMENT
(In the name of GOD, the most Beneficent and the most Merciful)We offer our prime salutations to
GOD for he has always answered our prayers and provided us good health to complete this phase
of our life. Every effort is motivated by an ambition and all ambitions have an inspiration behind.
We owe this pride place to our revered parents,whose encouragement, positive reception and trust
upon us has always inspired us to move further. We deem it to be our profound privilege to express
our deep sense of gratitude and profound personal regards to esteemed,Mr.MUSHTAQ AHMED
KHAN, Incharge Marketing Division, Zonal Office, Kashmir Central, J&K Bank whose
impeccable guidance, critical analysis, constructive criticism, constant encouragement and
unparalleled execution of the essential requisites during the entire course of study are beyond reach
of our formal words.
We extend our sincere thanks and regards towards our esteemed mentor, Mr.Zaffar Iqbal for his
advice, constant help and suggestions during the course of investigations. I also extend my thanks to
Mr.sandeep singh for his timely help & support.
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TABLE OF CONTENTS
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CHAPTER 1
BREIF HISTORY OF BANKING
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A Brief History of Banking
The History of Banking begins with the first prototype banks of merchants in the ancient world,
which made grain loans to farmers and traders who carried goods between cities. This began around
2000 BC in Assyria and Babylonia. Later, in ancient Greece and during the Roman Empire, lenders
based in temples made loans and added two important innovations: they accepted deposits and
changed money. Archaeology from this period in ancient China and India also shows evidence of
money lending activity.Banking, in the modern sense of the word, can be traced to medieval and
early Renaissance Italy, tothe rich cities in the north such as Florence, Venice and Genoa. The Bardi
and Peruzzi families dominated banking in 14th century Florence, establishing branches in many
other parts of Europe. Perhaps the most famous Italian bank was the Medici bank, established by
Giovanni Medici in 1397. The oldest bank still in existence is Monte dei Paschi di Siena,
headquartered in Siena, Italy, which has been operating continuously since 1472.It is followed by
Bahrenberg Bank of Hamburg (1590).The development of banking spread from northern Italy
through Europe and a number of important innovations took place in Amsterdam during the Dutch
Republic in the 16th century and in London in the 17th century. During the 20th century,
developments in telecommunications and computing caused major changes to banks' operations and
let banks dramatically increase in size and geographic spread. The financial crisis of 20072008
caused many bank failures, including some of the world's largest banks, and provoked much debate
about bank regulation.
In the recent era, the story of "the Banks" commences with the development of the modern banking
system in Middle Ages Europe. At that time, disposable wealth was usually held in the form of gold
or silver bullion. For safety, such assets were kept in the custody of the local goldsmith, he usually
being the only individual who had a vault on his premises. The goldsmith would issue a receipt for
the deposit and, to undertake financial transactions, the buyer would withdraw his gold and give it to
the seller, who would then deposit it again, frequently with the same goldsmith. As this was a time-
consuming process, it became common practice for people to simply exchange smiths' receipts when
conducting financial transactions. As time passed, the goldsmiths began to issue receipts for specific
values of gold, making buying and selling easier still. The smiths' receipts thus became the first
banknotes. The goldsmiths, now fledgling bankers, noticed that at any one time only a small
proportion of the gold held with them was being withdrawn. So they hit upon the idea of issuing
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more of the receipt notes themselves, notes that did not refer to any actual deposited wealth. By
giving these receipts to people seeking capital, in the form of loans, the goldsmiths could use the
money deposited with them by others to make money for themselves. It was found that, for every
unit of gold held by the goldsmith, ten times the sum could be safely issued as notes without anyone
usually becoming any the wiser. If a goldsmith held, say, 100 pounds of other people's gold in his
vaults, he could issue banknotes to the value of 1000 pounds. As long as no more than 10 percent of
the holders of those notes wanted their gold at any one time, no one would realize the fraud being
perpetrated. This practice, known as "fractional reserve lending," continues to this day and is
actually the backbone of the modern banking industry.
INTRODUCTION ABOUT THE BANK
In modern age, Banking constitutes the fundamental basis of economic growth. The term bank is
being used since long time but there is no clear conception regarding its beginning. According to one
viewpoint, in good old days, Italian moneylenders were known as Bane chi or Banacheri, because
these people kept special type of table to transact their business, called Ban chi. Origin of the word,
Bank belongs to the word Banchi or to the Greek word Banque. Both these words refer to some kind
of banking. According to another viewpoint, bank originated from the German word (Italy) Banque
meaning Joint Fund.Casa De SanGiorgio was the first bank to be established in 1148.The First
Public bank of Venice. It was established in 1157.
As per Banking Regulation Act. 1949, Banking means:
Accepting for the purpose of lending or investment of deposit of money from the public, repayable
on demand or otherwise and withdrawable by cheque, draft, order or otherwiseIn simple words,
bank refers to an institution that deals in money. This institution accepts deposits from the people
and gives loans to those who are in need. Besides dealing in money, banks these days perform
various other functions such as credit creation, agency job and general service.Bank, therefore, is
such an institution, which accepts deposits from the people, gives loans, creates credit and
undertakes agency
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In the modern sense originated in the last decades of the 18th century. The first banks were Bank
of Hindustan (1770-1829) and The General Bank of India, established 1786 and since defunct. The
largest bank, and the oldest still in existence, is the State Bank of India, which originated in the Bank
of Calcutta in June 1806, which almost immediately became the Bank of Bengal. This was one of the
three presidency banks, the other two being the Bank of Bombay and the Bank of Madras, all three
of which were established under charters from the British East India Company. The three banks
merged in 1921 to form the Imperial Bank of India, which, upon India's independence, became the
State Bank of India in 1955. For many years the presidency banks acted as quasi-central banks, as
did their successors, until the Reserve Bank of India was established in 1935.In 1969 the Indian
government nationalized all the major banks that it did not already own and these have remained
under government ownership. They are run under a structure know as 'profit-making public sector
undertaking' (PSU) and are allowed to compete and operate as commercial banks. The Indian
banking sector is made up of four types of banks, as well as the PSUs and the state banks; they have
been joined since 1990s by new private commercial banks and a number of foreign banks.Banking in
India was generally fairly mature in terms of supply, product range and reach-even though reach in
rural India and to the poor still remains a challenge. The government has developed initiatives to
address this through the State bank of India expanding its branch network and through the National
Bank for Agriculture and Rural Development with things like microfinance
Post-Independence
The partition of India in 1947 adversely impacted the economies of Punjab and West Bengal,
paralyzing banking activities for months. India's independence marked the end of a regime of the
Laissez-faire for the Indian banking. The Government of India initiated measures to play an active
role in the economic life of the nation, and the Industrial Policy Resolution adopted by the
government in 1948 envisaged a mixed economy. This resulted into greater involvement of the state
in different segments of the economy including banking and finance. The major steps to regulate
banking included.The Reserve Bank of India, India's central banking authority, was established in
April 1935, but was nationalized on 1 January 1949 under the terms of the Reserve Bank of India
(Transfer to Public Ownership) Act, 1948 (RBI, 2005b).In 1949, the Banking Regulation Act was
enacted which empowered the Reserve Bank of India (RBI) "to regulate, control, and inspect the
banks in India". The Banking Regulation Act also provided that no new bank or branch of an
existing bank could be opened without a license from the RBI, and no two banks could have
common directors.
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Despite the provisions, control and regulations of Reserve Bank of India, banks in India except the
State Bank of India or SBI, continued to be owned and operated by private persons. By the 1960s,
the Indian banking industry had become an important tool to facilitate the development of the Indian
economy. At the same time, it had emerged as a large employer, and a debate had ensued about the
nationalization of the banking industry. Indira Gandhi, the then Prime Minister of India, expressed
the intention of the Government of India in the annual conference of the All India Congress Meeting
in a paper entitled "Stray thoughts on Bank Nationalisation. The meeting received the paper with
enthusiasm.Thereafter, her move was swift and sudden. The Government of India issued an
ordinance ('Banking Companies (Acquisition and Transfer of Undertakings) Ordinance, 1969')) and
nationalised the 14 largest commercial banks with effect from the midnight of 19 July 1969. These
banks contained 85 percent of bank deposits in the country. Jayaprakash Narayan, a national leader
of India, described the step as a "masterstroke of political sagacity." Within two weeks of the issue of
the ordinance, the Parliament passed the Banking Companies (Acquisition and Transfer of
Undertaking) Bill, and it received the presidential approval on 9 August 1969.A second dose of
nationalisation of 6 more commercial banks followed in 1980. The stated reason for the
nationalisation was to give the government more control of credit delivery. With the second dose of
nationalisation, the Government of India controlled around 91% of the banking business of India.
Later on, in the year 1993, the government merged New Bank of India with Punjab National Bank. It
was the only merger between nationalised banks and resulted in the reduction of the number of
nationalised banks from 20 to 19. After this, until the 1990s, the nationalised banks grew at a pace of
around 4%, closer to the average growth rate of the Indian economy.
In the early 1990s, the then Narasimha Rao government embarked on a policy of liberalization,
licensing a small number of private banks. These came to be known as New Generation tech-savvy
banks, and included Global Trust Bank (the first of such new generation banks to be set up), which
later amalgamated with Oriental Bank of Commerce, UTI Bank (since renamed Axis Bank), ICICI
Bank and HDFC Bank. This move, along with the rapid growth in the economy of India, revitalised
the banking sector in India, which has seen rapid growth with strong contribution from all the three
sectors of banks, namely, government banks, private banks and foreign banks.
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The next stage for the Indian banking has been set up with the proposed relaxation in the norms for
Foreign Direct Investment, where all Foreign Investors in banks may be given voting rights which
could exceed the present cap of 10%,at present it has gone up to 74% with some restrictions.The
new policy shook the Banking sector in India completely. Bankers, till this time, were used to the 4
64 method (Borrow at 4%; Lend at 6%;Go home at 4) of functioning. The new wave ushered in a
modern outlook and tech-savvy methods of working for traditional banks. All this led to the retail
boom in India. People not just demanded more from their banks but also received more.
Current period
By 2010, banking in India was generally fairly mature in terms of supply, product range and reach-
even though reach in rural India still remains a challenge for the private sector and foreign banks. In
terms of quality of assets and capital adequacy, Indian banks are considered to have clean, strong and
transparent balance sheets relative to other banks in comparable economies in its region. The
Reserve Bank of India is an autonomous body, with minimal pressure from the government. The
stated policy of the Bank on the Indian Rupee is to manage volatility but without any fixed exchange
rate-and this has mostly been true.With the growth in the Indian economy expected to be strong for
quite some time-especially in its services sector-the demand for banking services, especially retail
banking, mortgages and investment services are expected to be strong. One may also expect M&As,
takeovers, and asset sales.In March 2006, the Reserve Bank of India allowed Warburg Pincus to
increase its stake in Kotak Mahindra Bank (a private sector bank) to 10%. This is the first time an
investor has been allowed to hold more than 5% in a private sector bank since the RBI announced
norms in 2005 that any stake exceeding 5% in the private sector banks would need to be vetted by
them.In recent years critics have charged that the non-government owned banks are too aggressive in
their loan recovery efforts in connection with housing, vehicle and personal loans. There are press
reports that the banks' loan recovery efforts have driven defaulting borrowers to suicide.
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At present, the number of nationalized banks is 20. Several Foreign banks were allowed to operate as
per the guidelines of RBI. At present the banking system can be classified in following categories:
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Urban Co-operative Banks
DEVELOPMENT BANKS
BANK
A bank is a commercial or state institution that provides financial services, including issuing money
in form of coins, banknotes or debit cards, receiving deposits of money, lending money and
processing transactions. A commercial bank accepts deposits from customers and in turn makes
loans based on those deposits. Some banks (called Banks of issue) issue banknotes as legal tender.
Many banks offer ancillary financial services to make additional profit; for most banks also rent safe
deposit boxes in their branches. Despite common assumptions, banks do not create money; banks
merely change debt from one form (loans) to another (banknotes).Currently in most jurisdictions
commercial banks are regulated and require permission to operate. Operational authority is granted
by bank regulatory authorities who provide rights to conduct the most fundamental banking services
such as accepting deposits and making loans. A commercial bank is usually defined as an institution
that accepts both deposits and makes loans; there are also financial institutions that provide selected
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banking services without meeting the legal definition of a bank. Banks have influenced economies
and politics for centuries. The primary purpose of a bank was to provide loans to trading companies.
Banks provide funds to allow businesses to purchase inventory, and collected those funds back with
interest when the goods were sold. For centuries, the banking industry only dealt with businesses,
not consumers. Commercial lending today is a very intense activity, with banks carefully analyzing
the financial condition of its business clients to determine the level of risk in each loan transaction.
Banking services have expanded to include services directed at individuals and risks in these much
smaller transactions are pooled.
Banks in India
In India the banks are being segregated in different groups. Each group has its own benefits and
limitations in operating in India. Each has its own dedicated target market. Few of them only work in
rural sector while others in both rural as well as urban. Many, even, are only catering in cities. Some
are of Indian origin and some are foreign players.
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Major Banks in India
ABN-AMRO Bank
Abu Dhabi Commercial Bank Ltd
American Express Bank Ltd
BNP Paribas
Citibank
DBS Bank Ltd
Deutsche Bank
HSBC Ltd
Standard Chartered Bank
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CHAPTER 2
RESERVE BANK OF INDIA
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RESERVE BANK OF INDIA
The Reserve Bank of India (RBI) is India's central banking institution, which controls the monetary
policy of the Indian rupee. It was established on 1 April 1935 during the British Raj in accordance
with the provisions of the Reserve Bank of India Act, 1934.The share capital was divided into shares
of 100 each fully paid, which was entirely owned by private shareholders in the beginning.
Following India's independence in 1947, the RBI was nationalised in the year 1949.RBI assumes an
important part in the development strategy of the Government of India, and as a leading member of
the Alliance for Financial Inclusion (AFI), is notably active in promoting financial inclusion policy.
RBI is also a member of the Asian Clearing Union. The general superintendence and direction of the
RBI is entrusted with the 21-member-strong Central Board of Directorsthe Governor (currently
Duvvuri Subbarao), four Deputy Governors, two Finance Ministry representative, ten government-
nominated directors to represent important elements from India's economy, and four directors to
represent local boards headquartered at Mumbai, Kolkata, Chennai and New Delhi. Each of these
local boards consists of five members who represent regional interests, as well as the interests of co-
operative and indigenous bank
Main Functions:
Monetary Authority:
Objective:
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Maintaining price stability and ensuring adequate flow of credit to productive sectors.
Prescribes broad parameters of banking operations within which the country's banking and
financial system functions.
Maintain public confidence in the system, protect depositors' interest and provide cost-
effective banking services to the public.
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 of good
quality
TYPES OF BANKS
PUBLIC PRIVATE
SECTOR SECTOR
BANKS BANKS
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SCHEDULED NON-SCHEDULED
CO-OPERATIVE
BANKS BANKS
BANKS EXCHANGE AGRICULTURE SAVING CENTRAL
COMMERCIAL INDUSTRIAL
BANKBANK BANK BANK BANK
Scheduled Banks in India (Public Sector):
Scheduled Banks are those banks, which are included in the second schedule of the Reserve Bank
Act, 1934. In terms of Section 42(5) of the Reserve Bank of India Act, a bank should fulfill the
following conditions:
It must have a paid up capital & reserve of an aggregate value of not less than Rs. 5 lacks.
It must satisfy RBI that its affairs are not conducted in a manner detrimental to the
depositors.
The scheduled banks enjoy certain privileges like approaching RBI for financial assistance;
refinance etc. and correspondingly, they have certain obligations like maintaining certain
cash reserves as prescribed by the RBI, submission of returns etc. The scheduled
commercials Banks in India comprises of state bank of India and its eight association, the
other nineteen nationalized foreign banks, private sector banks co-operative banks and
regional rural banks. As at the end of 30th June, 1999, there were 300 scheduled banks in
India having a total networking of 64,918 branches among them. Non scheduled banks are
those joint stock banks, which are not included in the second schedule of RBI Act on account
of the failure to comply with the minimum requirements for being scheduled. As on 30 th Jun,
1997, there are only, 3 non scheduled commercial banks operating in the country with a total
of 9 branches:
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State Bank of Indore
Andhra Bank
Corporation Bank
Dena Bank
Syndicate Bank
Bank of Baroda
Indian Bank
Allahabad Bank
Bank of Maharashtra
Canara Bank
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State Bank of Bikaner and Jaipur
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CHAPTER 3
J&K Bank carries out banking business of the Central Government.Inspite of a government equity
holding of 53 per cent, Jammu & Kashmir Bank (J&K Bank) is regarded as a private sector bank
.J&K Bank is the one and only banker and lender of last resort to the Government of J&K. Plan and
non-plan funds, taxes and non-tax revenues are routed through the J&K Bank J&K Bank claims the
distinction of being the only private sector bank that has been designated as agent of RBI for banking
The services of J&K Bank are utilized for the purposes of disbursing the salaries of Government
officials. J&K Bank collects taxes pertaining to Central Board of Direct Taxes, in Jammu & Kashmir
COMPANY PROFILE
The Jammu & Kashmir Bank is today one of the fastest growing banks in India with a network of
more than 691 branches/offices spread across the country offering world class banking
products/services to its customers. Today, the Bank has a status of value driven organization and is
always working towards building trust with Shareholders, Employees, Customers, Borrowers,
Regulators and other diverse Stakeholders, for which it has adopted a strategy directed to developing
a sound foundation of relationship and trust aimed at achieving excellence, which of course, comes
from the womb of good Corporate Governance. Good Governance is a source of competitive
advantage and a critical input for achieving excellence in all pursuits. J&K Bank considers good
Corporate Governance as the sine qua non of a good banking system and has adopted a policy based
on all the four pillars of good governance Transparency, Disclosure, Accountability and Value,
enabling it to practice Trusteeship, Transparency, Fairness and Control, leading to stakeholders
delight, enhanced shareholder value and ethical corporate citizenship. It also ensures that bank is
managed by an independent and highly qualified Board following best globally accepted practices,
transparent disclosures and empowerment of shareholders, besides ensuring to meet shareholders
aspirations and societal expectations following the principles of management's executive freedom to
drive the bank forward without undue restraints but within the framework of effective
accountability.During FY 2012-13, 70 new branches were established and 12 Extension Counters
were upgraded into full-fledged Branches, thereby taking the number of branches to 685, as on 31st
March, 2013, spread over 20 states and one union territory. The area-wise breakup of the branch
network (excluding extension counters/mobile branches and Service branches), as at the end of FY
2012-13 is as under:
Area Branches
Metro 39
Urban 178
Semi-Urban 136
Rural 332
TOTAL 685
The Bank's vision is To catalyze economic transformation and capitalize on growth. The bank
aspires to make Jammu and Kashmir the most prosperous state in the country, by helping create a new
financial architecture for the J&K economy, at the center of which will be the J&K Bank. The Bank is
committed to achieve healthy growth in profitability and simultaneously to remain consistent with the
Bank's risk appetite and at the same time ensuring the highest levels of ethical standards, professional
integrity and regulatory compliance.
MISSION OF THE BANK
The companys mission is two-fold: To provide the people of J&K international quality financial
services and solutions and to be a super-specialist bank in the rest of the country. The two together
will make it the most profitable bank in the country.
The Bank won the prestigious Asian Banking Award 2005 for its Development Project Financing
Programme, contributing significantly to the development of tourism industry of the J&K State. The
award was presented by the Under Secretary Finance, Philippines, at a glittering Gala Dinner award
function held at Manila, Philippines on June 17, 2005. The annual Asian banking awards recognize
and honor Asian banks for outstanding, innovative and world-class products and programmes
implemented during the previous year. It is the most respected and premier banking awards program
in Asia Pacific region.It is worth mentioning that the Bank has won the Asian Banking Award
consecutively for the two years. Before this, the Bank had won the award for Customer Convenience
Programmes and was also given runners up certificate for its project Motivating Employees for
Better Performance' under Operational Efficiency Programme' category. The Bank was ranked fifth
among the top ten Asian banks and 762nd among top 1000 World banks. A renowned business journal
"Business Today ranked JK Bank among 25 top investor friendly companies in India, the only bank
in the whole Indian Banking industry, which has been ranked in the magazine among first 10 Investor
Friendly Companies. The Bank for the second consecutive year was ranked Best Private Sector Bank
in Financial Express/ Ernest and Young combined Survey for the year 2002-03 released recently.
Bank was awarded Shiromani Award' for outstanding achievements in the field of banking and
commitment to national progress and human welfare during the year under report. The Bank has
figured among 24 Indian companies in Forbes Global - 100 best under a billion Asia's Rising
Companies', listed by Forbes magazine in its issue dated November 01 2006. The publication has
commended J&K Bank for representing economic dynamism in the region, sustained growth in all
spheres and an excellent track record of rewarding its shareholders.
The new identity of the J&K Bank is a visual representation of the Banks philosophy
and business strategy. The three colored squares represent the three regions of the state viz, Jammu,
Kashmir and Ladakh. The counter-form created by the interaction of the squares is a falcon with
outstretched wings a symbol of power, speed and empowerment. The synergy between the three
regions propels the bank towards new horizons. Green signifies growth and renewal, blue conveys
stability and unity, and red represents energy and power. All these attributes are integrated and
assimilated in the white counter-form.
Income Analysis
Interest income of the Bank recorded a growth of ` 1,301.22 Crores and increased from ` 4,835.58
Crores in FY 2011-12 to ` 6,136.80 Crores in FY 2012-13. Interest expenses increased from `
2,997.22 Crores to ` 3,820.76 Crores during the year. The Net Interest Income increased from `
1,838.36 Crores to ` 2,316.04 Crores on YoY basis. The Net Income from operations Interest Spread
plus Non-interest Income] has increased to ` 2,799.77 Crores in FY 2012-13 from ` 2,172.48 Cr in FY
2011-12, growing by 28.87%. The Operating Expenses exhibited an increase of ` 186.86 Crores
during FY 2012-13 and stood at ` 989.01 Crores, as compared to ` 802.15 Crores in FY 2011-12. The
Cost to Income ratio (Operating Expenses to Net Operating Income) has come down from 36.92% in
FY 2011-12 to 35.33% in FY 2012-13.
Gross Profit
The Gross Profit for FY 2012-13 stood at ` 1,810.76 Crores, as compared to ` 1,370.33 Crores in FY
2011-12, registering a growth of 32.14%
CHAPTER 4
PRODUCT DETAILS OF J&K BANK
The J and K bank has always inclination to launch new products deposit scheme and loans depending
upon the market conditions and requirements of customers. The products are tailored to suit
everybodys requirements. The products are:
Loans or Advances.
Deposit Schemes
LOANS OR ADVANCES:
The scale of finance to be assessed on the basis of number of fruit boxes marketed/ forwarded
during the previous year with a reasonable increase based on average growth during the last
three years.
The average per box market price will be aligned to the actual market rates.
Hassle free renewal of the credit limit from January onwards subject to satisfactory conduct
of the account.
Option for additional financial assistance for cold storage of the produce as per stipulated
rates.
Zafran Finance
Objective:-To provide adequate and need based financial assistance for cultivation of saffron. The
term loan shall cover the entire plantation & production costs including plant material, agricultural
machinery, labour, etc.
Roshni Financing Scheme
Objective:-To provide finance to occupants desirous of acquiring freehold rights of the land under
their occupation, as per the SRO-64 dated 5th March 2007, issued by Govt of Jammu & Kashmir.
Giri Finance Scheme
Nature of Facility: -Cash Credit /SOD facility
Objective: -To provide adequate and hassle-free working capital finance to Walnut kernel Traders for
taking care of the expenses involved in procuring and sales of kernels.
Laptop/PC Finance
Nature of Facility: -Term Loan
Purpose: - To provide finance for purchase of Laptop/ PCs to regular students of recognized
schools, colleges & universities in India, i.e.
1.Regular students of recognized schools & colleges from LKG to 12th Class.
2.Graduation courses: BA, B.Com, B. Sc, BVSc etc.
3.Post graduation courses: Masters, M.Phil. and PhD.
4.Professional degree courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental,
Management, Computer etc.
Finance under this product shall also be provided to regular teachers of recognized private schools.
Contractor Finance
Nature of Facility :-Facility to be extended by way of:
i) Running Account in the form of Secured Overdraft / Cash Credit Facility
ii) Cheque Purchase Facility
iii) Bank Guarantee Facility.
Purpose :- To facilitate the contractors for meeting working capital requirements for executing
contracts/works allotted by Government Departments / Undertakings, Autonomous Bodies, Defence
Departments, etc.
JK Bank Commercial Floriculture Finance
Nature of Facility: -Composite Term loan
Objective:-To provide adequate and need based financial assistance for commercial cultivation of
Flowers.
Seed Capital Fund Scheme under Sher-e Kashmir Employment and Welfare Programme for
the Youth (SKEWPY) of Government of Jammu & Kashmir.
Objective: -To provide finance to eligible candidates sponsored by JKEDI under the Seed Capital
Fund Scheme of Government of Jammu & Kashmir.
Purpose: - Finance under this product shall be available to trained and registered first generation
entrepreneurs sponsored by the JKEDI under the Seed Capital Scheme to start environment-friendly
ventures relating to certain core areas of the state economy which inter-alia shall include:
i) Horticulture, floriculture, cultivation of medicinal and aromatic plants;
ii) food-processing at the household/village level;
iii) Establishment of facilities for storage of food products/horticulture products: particularly cold
chains;
iv) handloom, handicrafts and other artisanal products: particularly design improvement, technology-
transfer and marketing;
v) ventures in poultry, sheep-breeding and production, collection, storage and marketing of milk:
aimed at import substitution;
Non-Cumulative Plans
Lump sum deposits with an option to withdraw interest on quarterly basis.
Fixed Deposit
Super Earner Deposit Plan
Tax Saver Deposit Plan
Hybrid Plans
Plans combining the features of simple deposit plans to cater to the special requirement of the target
customer.
Child-care Deposit Plan
Depositors Pension Plan.
Smart Saver Plan
CURRENT ACCOUNT:
Bank also offers a basic no frills savings account SB UJALA for inclusion of economically
disadvantaged sections of society.
Cumulative (Growth) Plans
Cash Certificate
Ideal for All types of investors-short, medium and long term.
Minimum deposit: Rs. 1000/- and above.
Tenure :6 months to 10 years.
Interest rate :Fixed.
Interest calculation :Quarterly compounding basis
Interest payouts: On maturity.
Add-ons :Loan facility upto 90% of amount deposited plus interest accrued.
Premature withdrawal Allowed with penalty of:
Before completion of 6 months: 1% less than the rate of interest applicable for the period the
deposit remains with the bank.
After completion of 6 months: 0.50% less than the rate of interest applicable for the period the
deposit remains with the bank.
The incentives shall be available to a customer for a period of 3 months from the date of opening of
the TSTDS.
Loan facility : - No loan facility available against the deposit.
Premature withdrawal:-Not allowed before expiry of 5 years from the date of account opening.
Non-Cumulative (Growth) Plans
Premature withdrawal
Allowed with penalty of
Before completion of 6 months: 1% less than the rate of interest applicable for the period the
deposit remains with the bank.
After completion of 6 months: 0.50% less than the rate of interest applicable for the
period the deposit remains with the bank.
Cheque book facility:-Nocheque book facility shall be allowed under this scheme.
Premature withdrawal:-Allowed. However, if the deposit is withdrawn before the period of six
months, the account shall attract penalty of Rs. 75/- per occasion.
Monthly Income Plans
Monthly Yield Deposit Plan
Ideal for:- Retail medium and long term investors seeking regular monthly returns.
Minimum deposit:-Rs.1000/- and its multiples.
Tenure:-1 year to 10 years.
Interest rate:-Fixed.
Interest calculation:-Simple Interest (discounted).
Interest payouts:-Monthly.
Add-ons:-Loan facility up to 90% of amount deposited.
Premature withdrawal:-Before completion of 6 months: 1% less than the rate of interest applicable
for the period the deposit remains with the bank.
After completion of 6 months: 0.50% less than the rate of interest applicable for the period the
deposit remains with the bank.
Hybrid Plans
Childcare Deposit Plan
Ideal for:- Parents/guardians desirous of investing over a long term with regular monthly savings for
their children.
Plan combination:-Recurring deposit plan (Phase -I) and Cash certificate (Phase-II).
Minimum deposit:-Rs 100/- and multiples thereof.
Tenure:-7, 9 and 10 years as recurring (Phase-I) and 5 , 7 and 10 years respectively as term deposit
(Phase-II).
Interest rate:-Fixed.
Interest rates will be applied as per the rate structure prevalent at the time of beginning of the
respective phases.
Interest calculation:-Quarterly compounded interest.
Interest payouts:- On maturity.
Add-ons:-Accidental Insurance Cover for the Parent / Guardian (linked to the size of monthly deposit
amount).
Delayed payment of installments:-In case of installments not deposited on due dates, a penalty @
2% per annum above the applicable deposit rate shall be imposed for the period the installment
remains in arrears.The period of installments to be considered shall be the actual month from the date
of opening of account and not the calendar month. However no penalty shall be imposed if an
installment is deposited within 15 days of the due date.
Premature withdrawal:-As in the case of other term deposits.
Depositors Pension Plan
Ideal For:-Persons who do not enjoy pension benefits either from their present employers or their
parent business or who want to enhance their pensions with regular monthly returns.
Plan combination:- Recurring Deposit Plan (Phase I) and Monthly Yield Deposit Plan (Phase II)
Minimum Monthly Installment:-Rs 25/- and multiples of Rs 25/-, Rs 50/- or Rs 100/-.
Tenure:-Phase I: 84, 105 or 111 months.
Phase-II: As per the option of depositor.
Interest rate:-Fixed.
Interest Calculation:- Quarterly Compounding basis for Phase I.
Simple interest for phase-II.
Collection of cheques
Local Normal charges.
Outstation through own bank Normal charges.
Outstation through other banks Normal charges.
Marketing is the process of communicating the value of a product or service to customers, for the
purpose of selling the product or service. It is a critical business function for attracting
customers.From a societal point of view, marketing is the link between a societys material
requirements and its economic patterns of response. Marketing satisfies these needs and wants
through exchange processes and building long term relationships. It is the process of communicating
the value of a product or service through positioning to customers. Marketing can be looked at as an
organizational function and a set of processes for creating, delivering and communicating value to
customers, and managing customer relationships in ways that also benefit the organisation and
its shareholders. Marketing is the science of choosing target markets through market analysis
and market segmentation, as well as understanding consumer buying behaviour and providing
superior customer value.
There are five competing concepts under which organizations can choose to operate their business;
the production concept, the product concept, the selling concept, the marketing concept, and the
holistic marketing concept. The four components of holistic marketing are relationship marketing,
internal marketing, integrated marketing, and socially responsive marketing. The set of engagements
necessary for successful marketing management includes, capturing marketing insights, connecting
with customers, building strong brands, shaping the market offerings, delivering and communicating
value, creating long-term growth, and developing marketing strategies and plans.
Services marketing
Services marketing is a sub field of marketing, which can be split into the two main areas of goods
marketing (which includes the marketing of fast moving consumer goods (FMCG) and durables) and
services marketing. Services marketing typically refers to both business to consumer (B2C) and
business to business (B2B) services, and includes marketing of services like telecommunications
services, financial services, all types of hospitality services, car rental services, air travel, health care
services and professional services. The range of approaches and expressions of a marketing idea
developed with the hope that it be effective in conveying the ideas to the diverse population of people
who receive it.Services are economic activities offered by one party to another. Often time-based,
performances bring about desired results to recipients, objects, or other assets for which purchasers
have responsibility. In exchange for money, time, and effort, service customers expect value from
access to goods, labor, professional skills, facilities, networks, and systems; but they do not normally
take ownership of any of the physical elements involved. Marketing of services is a relatively new
phenomenon in the domain of marketing, having gained in importance as a discipline only towards
the end of the 20th century. Services marketing first came to the fore in the 1980s when the debate
started on whether marketing of services was significantly different from that of products so as to be
classified as a separate discipline. Prior to this, services were considered just an aid to the production
and marketing of goods and hence were not deemed as having separate relevance of their own.
7ps of marketing
The first four elements in marketing mix are the same as those in the traditional marketing mix.
However, given the unique nature of services, the implications of these are slightly different in case of
services.
1. Product: In case of services, the product is intangible, heterogeneous and perishable.
Moreover, its production and consumption are inseparable. Hence, there is scope for
customizing the offering as per customer requirements and the actual customer encounter
therefore assumes particular significance. However, too much customization would
compromise the standard delivery of the service and adversely affect its quality. Hence
particular care has to be taken in designing the service offering.
2. Pricing: Pricing of services is tougher than pricing of goods. While the latter can be priced easily
by taking into account the raw material costs, in case of services attendant costs - such as labor and
overhead costs - also need to be factored in. Thus a restaurant not only has to charge for the cost of
the food served but also has to calculate a price for the ambience provided. The final price for the
service is then arrived at by including a mark up for an adequate profit margin.
3. Place: Since service delivery is concurrent with its production and cannot be stored or transported,
the location of the service product assumes importance. Service providers have to give special
thought to where the service would be provided. Thus, a fine dine restaurant is better located in a
busy, upscale market as against on the outskirts of a city. Similarly, a holiday resort is better situated
in the countryside away from the rush and noise of a city.
4. Promotion: Since a service offering can be easily replicated promotion becomes crucial in
differentiating a service offering in the mind of the consumer. Thus, service providers offering
identical services such as airlines or banks and insurance companies invest heavily in advertising their
services. This is crucial in attracting customers in a segment where the services providers have nearly
identical offerings.
We now look at the 3 new elements of the services marketing mix - people, process and physical
evidence - which are unique to the marketing of services.
5. People: People are a defining factor in a service delivery process, since a service is inseparable
from the person providing it. Thus, a restaurant is known as much for its food as for the service
provided by its staff. The same is true of banks and department stores. Consequently, customer
service training for staff has become a top priority for many organizations today.
6. Process: The process of service delivery is crucial since it ensures that the same standard of service
is repeatedly delivered to the customers. Therefore, most companies have a service blue print which
provides the details of the service delivery process, often going down to even defining the service
script and the greeting phrases to be used by the service staff.
7. Physical Evidence: Since services are intangible in nature most service providers strive to
incorporate certain tangible elements into their offering to enhance customer experience. Thus, there
are hair salons that have well designed waiting areas often with magazines and plush sofas for patrons
to read and relax while they await their turn. Similarly, restaurants invest heavily in their interior
design and decorations to offer a tangible and unique experience to their guests.
Perception
Perception is the ability to pick out something through the different senses. It can be through seeing,
hearing, smelling or touching. The sensory stimulus of the body system consciously registers an
activity or event in the human memory. Perception depends on complex functions of the nervous
system, but subjectively seems mostly effortless because this processing happens outside conscious
awareness.
Bank Marketing
The origin of bank marketing dates back to the succeeding years of the succeeding years of world
war ii when it was associated with public relations , advertisings and promotional efforts, particularly
known as business development. It was only towards the second half of the 20 thcentaury that the
concept of the marketing began to catch up in the banks in England and the USA. The compulsion to
understand the needs and the preferences of the customers and the impact of various markets led to
the growth of market research and other sophisticated and disciplined marketing effort. Bank
managements were forced to rethink their strategies and device new business models to operate
competitively in high tech, multichannel banking market. After the introduction of stringent norms,
banks in India witnessed their profits sliding down, sometimes by alarming margins. But with the
recovery symptoms in the sector bank managements are integrating carefully selected technology to
improve customer service, empower their work forces and increasing core operating efficiencies. This
prudent use of technology is designed to increase revenue and control costs, producing sustained
growth and profitability.One of the key challenges for the banks today is to create a single view of the
enterprise and of customers across multiple channels. For competitive advantage, banks today need
the ability to quickly translate business strategies in to actions that can be measured and monitored
throughout the organization. This is achievable by careful and planned marketing strategy. Marketing
solutions enable banks to implement effective business strategies, maximize the profits, retain and
grow customer accounts and execute marketing campaigns. Banks world are seeking to increase the
efficiency and effectiveness of their marketing campaigns. This enables the banks to execute highly
targeted marketing campaigns that yield higher response rates. The solution offers rules for retention,
loyality, customer acquisition, development, activation and reactivation. The concept of bank
marketing is the combination or compendium of two different words, Bank and marketing. In true
sense, it is application of marketing principles in the banking services or conceptualization of
marketing in the decision making process of banking organizations. The match of marketing with
banking services is formulation of overall marketing strategy which suits the saving and investment
preferences, needs and requirements, likes and dislikes of customers.One definition of bank
marketing, as referred to by the national institute of Bank Management, pune (2000), is: Bank
Marketing is the aggregate of functions, directed at providing services to satisfy customers
financial(and other related) needs and wants, more effectively and efficiently than competitors
keeping in view the organizational objectives of the bank.
Marketing is positioning
In the formation of overall marketing strategies of banking service industry, the following decisions
are considered significant in the liberalization business environment.
Product Planning
The banking or financial companies should aim at creating new generic products as per customer
needs. Creation of attractive schemes has to be coupled with efficient delivery to optimize customer
satisfaction. It is always better to bring modification in the existing products by adding some new
feature and elimination of outdated products. For designing and developing a new product, banks
should take the help of market research to assess the needs of the customers, availability of existing
product and future growth in demand
Selection of suitable place
This involves searching of suitable places for offering the services. That is, locating the branch at a
sensitive point, this is accessible to the actual and potential customers for activating the bank
business.
Pricing Policy
The potential customers generally frame their investment strategies in the background of pricing
decision. The price takes different dimension depending upon the type of financial services and the
price of financial services are linked with return. Only competitive price and the promised return
catch the sentiments of the customers
Branding
Brand name or scheme name very often signifies the market segments inherent benefits and
investment objectives and customers loyality
Customer Service
Market orientation of product of product and customer orientation of services are the key factors in
the competitive world bank services. Prompt and timely services as per the customers need would
make a distinct difference. The quality of the services offered in turn helps to develop loyality among
the customers.
Market Segmentation
The segmentation of market is based on the changing needs of customers. Market segmentation is
identified on the basis of nature of the product, direct and indirect benefits of the product, behavior or
attitude of the customer, and product usage rate.
Distributional policy
The determination of proper channel to be used for selling product or service is also a key issue in the
marketing of banking product or services. Before launching of a product or a service, there should be
clear cut idea about of distribution of the product to make it accessible to the ultimate customer.
Promotional policy:
In order to promote the business in highly competitive world, a creative promotional tool helps
potential customers to buy products and services.
The following are emerging functions in marketing of banking or financial services industries and
having greater significance in this competitive market.
Product development
To assess the potential for retail asset business based on market feed back and to enhance
existing products or develop new products.
Channel Management
To identify third party agencies such as direct sales agents, collection agents verification
agencies and finalize terms and conditions, responsibility pricing with each agency
To monitor the performance of these agencies on an ongoing basis and ensuring a high quality
channel operation over time
Appraisal Management
To scrutinize and recommend approval or rejection of retail loan proposal received from
branches by way of credit scoring system and sound judgment.
To build the retail asset business in liaison with direct selling agents and branch heads in order to
achieve the business target for the region.
To identify and recommend suitable third party agencies for marketing, collection and verification
in their area of operations as well as to ensure quality of the credit portfolio and to follow up
delinquent cases.
Branch Management
To achieve the business target of the branch with a predominately retail business focus
Brand Management
To develop strong brand name for the product/ service and corporate image for the company through
various innovative devices.
Bank Environment
Bank marketing systems operates within the framework of forces that constitute the systems
environment. These forces are either external or internal to the bank. The bank cannot control external
forces. But it has to adapt itself to the environmental forces and work according to the conditions and
situations of the external environment factors. These elements can be divided into macro and micro. T
macro environment are social, cultural, economic conditions, legislations etc. The micro environment
includes suppliers, marketing middlemen and customers. These external environmental factors are
closely related to the banks and are included as a part of the banks total marketing system. External
macro environmental factors include demography, economic conditions, political and legal forces and
technology. Demography is important to the bank marketing executives because people who have
money and are willing to deposit in the banks and people who need and are willing to take loans from
banks, and people who need bank services constitute the bank market.Economic conditions which
affects bank marketing includes national income, per capital income, trends in distribution of income
and wealth, money supply, interest rates offered by the various financial institutions prices, inflation,
deflation, services, etc. political and legal forces include the ideologies and activities of political
parties, which influence bank activities, particularly granting loans and advances to priority sector.
Banks are important financial intermediaries, which accept deposits from public for the purpose of
lending and investment. Through this function (Bank Marketing), they get related businesses or
ancillary services like remittance, demand draft issues, mail transfers, telegraphic transfers, collection
of bills, sale and purchase of foreign exchange, safe custody and safe deposit vault, guarantee
facilities, sale of travelers cheques, trustee and executor services, etc. Apart from these traditional
services, others such as merchant banking, port folio management, leasing, hire-purchase, etc. are
services that have been added in recent years. These services are being rendered by the banks mainly
with a view to attracting and retaining deposits and advances, customers and thus develop their
business further.Bank marketing principles if practiced in a right fashion besr the efficacy of
generation enriching and tapping the business potentials, satisfying the customers and sub-serving the
social interests. The time-honored innovation in perception becomes essential to conceptualize the
modern marketing principles in the banking services.With the help of different marketing research,
the bankers get an opportunity to understand the expectations of customers/prospectus. A good
number of foreign banks and few of the Indian commercial banks, of course working in the private
sector appear serious to the problem and therefore they succeed in capitalizing on opportunities
optically. The credibility for this goes to application of modern marketing principles.After
understanding the needs and wants of the customer, the marketer interested in designing creative or
time honored policies, the success rate reaches at its peak. If the marketing processes are understood
by the marketer, the task of satisfying customers becomes easy. The formulation and innovation
processes of the marketing mixes move in a right and desired order. The customers get the services in
tune with their expectations which help banks in mobilizing saving and deposits by transforming the
prospects into actual customers and the actual customers into habitual customers.The Indian banks are
facing a lot of competition from foreign leading banks and to some extent even from the Indian
commercial and private banks. This by using technology and marketing can solve the problem the
competition for banks and can help in improving the quality of services.The quality of mix plays a
decisive role in getting the business and increasing the market share. So banks need to use the mixes
for better services.It is not only sufficient offer customer quality service, or promote bank in right
fashion or use meaningful strategies. Bank promote arrange as overriding priority to the magnitude of
social costs. In short, the marketing concept points to the following essentials, which contribute
towards banks success. Banks cannot exist without the customers.The purpose of the bank is to
create, win and help customer. The customer is and should be the central focus of everything the bank
does It is also a way of organizing the bank. The starting point for organizational design should be the
customer and the bank should ensure that the services are performed and delivered in most effective
way. Ultimate aim of the bank is to delivery total satisfaction to the customer. Customer satisfaction is
affected by the performance of all the personnel of the bank
CHAPTER 6
RESEARCH METHODOLOGY
RESEARCH METHODOLOGY
Introduction and Meaning:
Research Methodology is a way to systematically solve the research problem. The Research
Methodology includes the various methods and techniques for conducting a Research. D. Slesinger
and M.Stephenson in the encyclopedia of Social Sciences define Research as the manipulation of
things, concepts or symbols for the purpose of generalizing to extend, correct or verify knowledge,
whether that knowledge aids in construction of theory or in the practice of an art.
Research is a careful investigation or inquiry especially through search for new facts in branch of
knowledge: market research specifies the information. Required to address these issues: designs the
method for collecting information: manage and implements the data collection process analyses the
results and communicates the finding and their implications.Research problem is the one which
requires a researcher to find out the best solution for the given problem that is to find out the course
of action, the action the objectives can be obtained optimally in the context of a given environment.
Techniques:
The problem definition can be said to be the quite essential part of the research process; as it
determine precisely, what the managerial problem is and the type of information that the research can
generate to help the problem before conducting the fieldwork. It is better to decide upon the
method/technique of data collection. Generally, there are two technique of data collection are:
1. Census Technique
2. Sample Technique or Convenient sampling
A census is a complete enumeration of each and every unit of population where as in a sample only a
part of the universe is studied and conclusion about the entire universe is drawn about that basis. The
census method is costlier and more time consuming as compared to sampling method but the result
are near representatives than sample method.The availability of resources, time factor degree of
accuracy desire and scope of the problem enable us to apply sample technique.
Data Collection:
The objectives of the project are such that both primary and secondary data is required to achieve
them. So both primary and secondary data was used for the project. The mode of collecting primary
data is questionnaire mode and sources of secondary data are various magazines, books, newspapers,
& websites etc.
Primary Data:
The primary data was collected to measure the customer satisfaction regarding J&K Bank. The
primary data was collected by means of direct personal interview method through structured
questionnaire and analysis was done on the basis of response received from the customers. The source
for the primary data was a questionnaire. The questionnaire is the most popular and useful method for
the collecting survey data and helps in analyzing the information from the framed questions to get the
real picture of the subject. The questionnaire has been designed in such a manner that the customers
satisfaction level can be measured and consumer can enter his/her responses easily.The questionnaire
that was used for the collection of the research data contained 10 questions. Out of which, 9 questions
were closed question based on options and 1 open end question. The questions were based on
variables like markets segmentation.
The questions used in the questionnaire contained information and details about the bank like
Details of the person interacted about product being utilized
Customers current level of knowledge regarding bank product
Customers preferences about the product which they would rate higher than other product and
Customers media preference or the way in which they would like the product to be advertised or
promoted
The questionnaire was distributed to 63 customers in rural, semi urban and urban areas in Jammu And
Kashmir State. The customers were:
Students.
Customers of different bank branches.
Govt employees.
Pensioner.
SECONDARY DATA:
The secondary data used in the research was collected from
The Jammu and Kashmir banks magazines.
Articles from newspapers.
Websites.
Dairies.
CHAPTER 7
OBJECTIVES AND LIMITATIONS OF STUDY
Objectives of the study
Every company has a particular goal. A study without objectives cannot reach the destination.
My project work was also directed to some particular targets and the main objectives of the
study are as bellow:
To study the customer perception towards various products and services of J&K Bank.
Qno.1 Occupation
Salaried
Pensioner
Business
Housewife
Student
5.76%
24.53% 4.33% Salaried
51.95% pensioner
business
house wife
student
13.42%
Interpretation: From the above graph it has been observed that, the majority of customers i.e
57.14% are salaried.
Qno.2 How did you come to know about the J&K Bank?
Television
Word of mouth
Newspaper
Billboard
Newspaper 6 9.52
Billboard 9 14.28
Awareness
14.28%
9.52% television
word of mouth
newspaper
53.97%
billboard
22.22%
Interpretation: From the above pie-chart, it has been observed that among the sample size of 63
customers, majority of customers i.e, 53.96% rated television who created awareness about the J&K
Bank among the customers. This implies that among all the five options television play important role
in creating awareness among customers about the J&K Bank
Type of account
saving account
1.58% current account
6.34% term deposit
92.08%
Interpretation:From survey it has been observed that majority of customers i.e 92% are a having
saving account with the J&K Bank.
Qno4. Are you aware about all the services provided by J&K Bank?
Yes
No
Awareness
25.39% YES
NO
74.61%
Interpretation: From the survey it has been observed that majority of customers i.e 74.60% said
yes and 25.39% customers said no .This implies that about 25% of the customers dont have enough
knowledge about all the products and services provided by J&K Bank. There is a big opportunity for
the bank to attract these customers towards other services. And the bank staff should get involved in
providing knowledge and awareness to customers about the various products and services offered by
J&K Bank.
Qno.5 Are you using free SMS service provided by J&K bank?
Yes
No
Free SMS
29.63%
YES
NO
70.37%
Interpretation: From the above survey it is clear that majority of customers i.e 60.31% of J&K Bank
use free SMS service and rest of 25.39% customers dont use free SMS service.
Qno6. How do you feel about the work culture and ambience of J&K Bank?
Excellent
Very good
Good
Average
Poor
Good 12 19.04
Average 02 3.17
poor 0 0
Work culture
excellent
19.14% 3.19%
very good
Good
Average
14.35%
63.32% poor
Interpretation: From the above pie-chart it has been observed that majority customers feel that the
work culture and ambience of J&K Bank are excellent. This implies that J&K Bank is known for
excellent customer service among all the banks in Srinagar.
Qno7. Do you think, the branch and ATM network of J&K Bank is good enough to cater
all the customers ?
Strongly agree
Agree
Neutral
Disagree
Neutral 06 10
Disagree 03 5
Branch ATM
Interpretation: From this pie-chart it has been observed that, majority of customers 60.31% feel
strongly agree and 4.76% feel strongly disagree about the branch and ATM network of J&K Bank.
This depicts that half of the customers are dissatisfied about the branch and ATM network
Rate of interest
14.28%
Excellent
20.63% 47.62% very good
good
Average
17.46%
Interpretation: From the survey it is clear that majority of customer i.e 48% have rated J&K bank
excellent.
Good 11 17.46
Poor 05 7.93
Net banking
17.47% 7.93% Excellent
very good
good
60.32% poor
14.28%
Interpretation: From above study it is clear that majority of customers i.e 60.30% have
rated J&K bank excellent with regard to net banking.
(c).With regard to how well knowledgeable bank staff is in solving your problem?
Excellent
Very good
Good
poor
Good 07 11.11
poor 03 4.76
Bank staff knowledge
37.87%
Interpretation: From above survey it is clear that majority of customers i.e 46.03% has
rated J&K Bank excellent.
Good 10 15.87
Terms and condition
15.87%
3.17% 38.10% excellent
very good
good
poor
42.86%
Interpretation: From survey it is clear that majority of customers have rated J&K bank very good.
Q9. When you think of J&K Bank, what comes first in your mind?
Quality service
Wide branch network
Easy accessibility
Speedily transaction
20.63%
Interpretation: From the survey it is clear that majority of customers i.e 47.61% think that the
quality service is the key reason for customer satisfaction provided by bank. This implies that J&k
Bank is known for quality service.
.QNO10 Would you recommend this bank to your friends, relatives and associates?
Yes
No
Recommend
8.82%
YES
NO
91.18%
Interpretation:
This study implies that when talking about the recommendation , all the customers are ready and feel
great to recommend the bank to their friends and relatives. This shows the positive word of mouth
publicity of the bank and the bank is attracting and maintaining the customers to generate a high
profit for the bank
QNO11 Do you think J&K bank is working for well being of society?
Yes
No
9.50%
YES
NO
90.50%
Interpretation: From above graph it is clear that 90% of customers feel that J&K bank is working
for well being of society,10% of customers feel that J&K bank is not socially responsible.
Drawback
28.57%
YES
NO
71.43%
Interpretation:
This chart explains that about 28.57% feel that there are few drawbacks in the services of J&K Bank
and 72.42% are those customers who feel that there are no drawbacks in the services provided by
J&K Bank. These customers give suggestions and remedies to make improvements in the service
level so that the J&K Bank should maintain loyal customer base and cam maintain a good brand
image among the customers.
CHAPTER 9
FINDING,SUGGESTION AND RECOMMENDATION
FINDINGS:
From this project, it has been observed that J&K Bank is holding the No. 1 market share
among all the private sector banks in Srinagar.
It has been observed that television is the most attractive and profitable marketing channels of
J&K Bank for creating awareness among customers.
A large number of J&K Bank customers are holding savings account among other products
and services provided by J&K Bank like current a/c, fixed deposits, recurring deposits etc.
It has been observed that 25.39% of the customers are not aware about all the products and
services provided by J&K Bank.
It has been observed that about half of the customers (39.68%) dont use free SMS facility of
the Bank.
All of the customers are satisfied with the work culture and ambience of J&K Bank.
4.76% of the customers feel that the branch and ATM network of J&K Bank is not good
enough to cater all the customers.
It has been observed that of 47.61% customers think that the quality service is the key reason
for customer satisfaction provided by bank.
It has been observed that 98.4% customers are willing to recommend it to others.
It has been observed that 9.5% of customers think that J&K bank is not working for well
being of society.
It has been observed that 28.7% of customers fell that there are drawbacks in services
provided by j&k bank.
It has been observed that 47.61% of customers feel that rate of interest provided by J&K bank
is excellent.
It has been observed that 46.03% of customers feel that bank staff is well knowledgeable in
solving customer problems.
It has been observed that 38.09% of cutomers feel that terms and conditions set by J&K bank
are excellent.
SUGGESTIONS AND RECOMMENDATIONS
About 25.39% of the customers are not aware about all the products and services provided by
the bank, therefore the J&K Bank employees should get involved in providing information
about the other services offered by the bank rather than pitching accounts to them.
About (39.68%) of the customers dont use free SMS facility of the bank, the Bank staff
should make the customers aware about the benefits of using free SMS service.
The J&K Bank should decrease the time period for the activation of credit cards so that the
customers feel satisfied with the bank.
Only 4.76% of the customers feel that the branch and ATM network is not good enough to
cater all the customers, therefore the ATM and branch network should be increased so that
4.76% of customers also feel that bank can cater their needs.
CHAPTER 10
BIBLOGRAPHY
BIBLIOGRAPHY:
Websites:
www.jkbank.net
http:/papers.ssrn.com/sol3/papers.cfm-abstract
http:/ www.researchandmarkets.com
http:/google.com
http:/ www.economicwatch.com/banking
http://en.wikipedia.org/wiki/bank
Text book:
Marketing research by Naresh K Malhotra.
Marketing Management by Philip Kotler
CHAPTER 11
ANNEXURE
ANNEXURE
QUESTIONAIRE
I will be thankful to the respondents, if you will spare 4-5 minutes from your valuable time to answer
this questionnaire, which will help, the J&K Bank to reach up to your expectations in serving you and
also finish my project towards the partial fulfillment of MBA Degree.
Gender__________ Name________________ Contact No._______________
Occupation
Salaried
Pensioner
Business
Housewife
Q.NO4. Are you aware about all services provided by J&K bank?
Yes
No
QNO5. Are you using the free SMS service provided by J&K bank?
Yes
No
QNO6. How do you feel about work culture and ambience of J&K bank?
Excellent
Very good
Good
Average
QNO7. Do you think the branch and ATM network of J&K bank is good enough to
Cater all customers?
Strongly agree
Agree
Neutral
Disagree
(c).With regard to how well knowledgeable bank staff is in solving your problem?
Excellent
Very good
Good
Poor
QNO9.When you think of j&k bank, what comes first in your mind?
Quality service
Wide branch network
Easy accessibility
Speedily transaction
QNO.11.Do you think J&K bank are working for the well being of the society?
Yes
No
QNO.12.Do you find any drawback in services offered by J&K bank, if yes specify?
Yes
No
please give some suggestions to serve you better__________________