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A

SUMMER TRAINING REPORT ON

CUSTOMER SATISFACTION TOWARDS J&K


BANK MODERN DAY PRODUCTS

SUBMITTED IN PARTIAL FULFILLMENT FOR THE


AWARD OF
BACHELOR OF BUSINESS ADMINISTRATION

BY
NAVJOT SINGH
BBA SEM V
UNIVERSITY ROLL NO:

UNDER THE SUPERVISION OF


Mrs. VIDHU KOUL
DEPARTMENT OF MANAGEMENT STUDIES

TRIKUTA COLLEGE OF COMPUTER SCIENCE &


MANAGEMENT STUDIES

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DECLARATION

I hereby declare, that the project report on the topic, CUSTOMER

SATISFACTION TOWARDS J&K BANK MODERN


DAY PRODUCTS completed and submitted under the guidance and

supervision of Mrs. VIDHU KAUL is my original work.

The preparation of the project report is based on my personal findings, several visits
to the organization, interaction with the officials employees customers and
consultation with the eminent scholars and secondary sources. The contents
provided are true to the best of my knowledge and belief.

NAVJOT SINGH

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ACKNOWLEDGEMENT

No project is ever a work of only one person and this one is no exception

This project is the product of many hands and countless hours from many people.
My thanks go out to all those who helped, whether through their comments,
feedback or suggestions.

Firstly, I am particularly indebted to TRIKUTA COLLEGE OF COMPUTER


SCIENCE & MANAGEMENT STUDIES, affiliated to University of Jammu, which
inculcated in me utmost respect for human values & groomed me up in the field of
management sciences to take challenges of corporate world.

I am heartily thankful to J&K Bank, Miran Sahib, Jammu for providing me the
opportunity to carry out the project tainting. I take this opportunity to express my
sincere gratitude to our principal Nusrat Khan for being guide, a true mental and
philosopher throughout B.B.A program.

There is still a debt I owe to my parents, fiends, all well wishers who were directly
or indirectly involved in making this projects realty.

NAVJOT SINGH

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PREFACE

Summer training is a necessary part of elementary theoretical study. It enforces a


student to be well conversant with practical aspect of management profession.
Practical summer training is significantly different from the college studies. Training
is to make us well conversant with the practical aspects of the management
profession.

Promotional strategy formulation depends upon the every aspect of related terms and
marketing research plays vital roles to connect each compartment to form a cohesive
functional unit.

The motivation behind the project was to gain clear understanding about marketing
research. Through this project I have tried to understand the complexities involved
in gathering of data for drawing inferences. The final objective to be produced is
accurate, useful and free from bias. The project has been presented in a simple
format.

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INDEX

C. No. TABLE OF CONTENTS PAGE NOS.

1 AN OVERVIEW 01 02

2 INTRODUCTION TO THE 03 12

COMPNAY

3 INTRODUCTION TO THE 13 27

TOPIC

4 OBJECTIVES OF THE STUDY 28 29

5 RESEARCH METHODOLOGY 30 37

6 DATA ANALYSIS & 38 61

INTERPRETATION

5
7 LIMITATIONS 62 63

8 CONCLUSION 64 66

9 FEEDBACK 67 68

10 FINDINGS & SUGGESTIONS 69 70

11 BIBLIOGRAPHY 71 72

12 ANNEXURE 73 77

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AN OVERVIEW

7
AN OVERVIEW

The banking as it exists today is the result of the transformation that has taken place over
many centuries .Throughout the globe; banking has been in the existence in the one form or
the other. The word bank is said to be of Germanic origin, cognate with the French word
banque & the Italian word banca, both meaning bench .It seems word may have derived
its meaning from the practice of Jewish money changers of Lombardy ( a district in North
Italy),who, in the middle ages, used to do business sitting on benches in the market place.

The history of origins of banks is traceable in Asian times. The New Testament contains a
reference of the activities of the money changers in the templates of Jerusalem. As early as
2000 BC, the temples Babylonia were used as banks & priests acted as financial agents until
the public lost confidence as a result of this belief in religion. In ancient Greece, the famous
Delphi & Olympia served as the great depositories for the surplus funds of the public & were
the main centers of money lending business. The traces of the credit by compensation & by
the transfer orders are found in Assyria, Phoenicia & Egypt before the growth of the system
in its full form in the Greece & Rome.

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INTRODUCTION TO
THE COMPANY

9
History Of Jammu And Kashmir Bank

Industry Financial ,Commercial banks

Founded 1938

Headquarters Srinagar, India

Number of locations > 577 branches/offices

Area served Mostly J & K

Revenue 20,595,000,000 (2007)

Employees 7267

Website http://www.jkbank.net

The Jammu & Kashmir Bank was founded on October 1, 1938 under letters patent issued by
the Maharaja of Kashmir, Hari Singh. The Maharaja invited eminent Kashmiri investors to
become founding directors and shareholders of the bank, the most notable of which were
Abdul Aziz Mantoo, Pesten Gee and the Bhagat Family, all of whom acquired major
shareholdings.

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The Bank commenced business on July 4, 1939 and was considered the first of its nature and
composition as a State owned bank in the country. The Bank was established as a semi-State
Bank with participation in capital by State and the public under the control of State
Government.

The bank had to face serious problems at the time of independence when out of its total ten
branches two branches of Muzzafarabad, Rawalkot and Mirpur fell to the other side of the
line of control (now PoK Kashmir) along with cash and other assets. Following the extension
of Central laws to the state of Jammu & Kashmir, the bank was defined as a government
company as per the provisions of Indian companies act 1956.

The Jammu & Kashmir Bank is considered as one of the fastest growing banks in India with
a network of more than 500 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, customers,
borrowers, regulators, employees 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, disclosures, accountability and value.

According to the extended central laws of the state, Jammu & Kashmir
bank was defined as a Government Company as per the provision of Indian Companies Act
1956. In the year 1971, the bank received the status of scheduled bank.. It was declared as
A class bank by RBI in 1976.

1993-94:- The bank tied up with Reuter news agency for instantaneous information
about global foreign currency rates & fluctuations thereof.
1995:- The banking Ombudsman scheme was launched in June, with a view to
provide quick & inexpensive facility to resolve the grievances of banks customers.
1998:- J&K bank limited is coming out with a public issue of 18500000 equity shares
of Rs10 each for cash at a premium of Rs 28 per share aggregating Rs 70.30 crores.

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1999:- The bank entered into an agreement with IBA to connect its ATMs through a
share network.
2000:- J&K bank has tied up with INFOSYS technologies to offer Internet banking
for its e- commerce initiatives.
2001:- The bank has launched J&K bank- AMEX Co. Branded Credit card pursuant
to agreement entered with American Express Bank.
The bank has tied up with the US based insurance giant, METLIFE for the proposed
foray in the insurance sector.
2003:- J&K bank has strengthened its bond with INFOSYS by successfully deploying
FINACLE Core banking.
J&K bank has decided to launch GLOGAL ACCESS CARD (an international Debit
Card) in association with MASTER CARD INTERNATIONAL).
2004:- J&K bank approves Rs300 crores for Reliance Infocom.
J&K bank ties up with ICICI Bank to share ATM networks.
J&K bank signs MoU with BAJAJ Tempo.
IDBI bank ties up for Visa transaction with J&K bank to launch a platform for the
states merchant establishment.
2006:- J&K bank receives approval from RBI for increasing the FIIs holding.
2007:- J&K bank limited has appointed Mr. M S Verma (Ex chairman, State bank of
India) & Mr. G P Gupta (Ex chairman and Managing Director, IDBI) as Directors of
the bank in the meeting of the board of directors held on June-9-2007.

Today the bank has more than 580 branches across the country and has recently become a
billion dollar company and has status of a value driven organization and is always towards
building trust with shareholders employees, customers, borrowers, regulators & other diverse
stakeholders for which it has adopted a strategy directed to developing a sound foundation of
relationship & 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 pursuit. Jammu & Kashmir bank considers good
corporate governance- transparency, disclosures, accountability and value, enabling it to
practice trusteeship, transparency, fairness and control, leading to stakeholders delight,
enhance shareholder value & ethical corporate citizenship. It also ensures that bank is
managed by an independent and highly qualified board following best globally accepted

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practices, transparent disclosures and empowerment of share holders, besides ensuring to
meet share holders aspirations and societal expectations following the principals of
managements executive freedom to drive the bank forward without undue restrains but
within the framework of effective accountability. The excellence achieved by the bank in its
operations stemming from the root of voluntary good governance has not gone unrecognized
and bank has recently bagged three prestigious awards for following fair business practices
and commitment to social obligations.

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Government Ownership: An Advantage

J&K Bank has a unique competitive advantage stemming from its government ownership.
Besides access to low cost of funds, bring the banker both the J&K government, all
government funding is routed though J&K bank.

Mission Of The Bank

Mission have been set to remain a financially strong, sound, growth oriented and profitable
bank with main focus towards providing convenient, reliable, cost effective and personalized
services to all its customers and globally competitive and foray with the business of banking.
The objectives of bank shall provide Value Maximization to all its share holders i.e. its
customers and employees.

Vision Of The Bank


To make J&K Bank a good player built on trust by world-class people and service.

Understanding the needs of customers and offering them superior products and service.
Leveraging technology to service customers quickly, efficiently and conveniently.
Providing an enabling environment to foster growth and learning for our employees.
And above all, building transparency in all our dealings.
The success of the company will be founded in its unflinching commitment to 5 core
values

Integrity,
Customer First,
Boundary less,
Ownership and
Passion.
Each of the values describes what the company stands for, the qualities of their people and
the way they work.

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Company Profile

Incorporated in 1938 as a limited company.


Governed by the Companies Act and Banking Regulation Act of India.
Regulated by Reserve Bank Of India (RBI) & Security Exchange Board Of India
(SEBI).
Listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
53 Percent owned by the government of J&K.
Rated P1+ standard and poor CRISIL connoting highest degree of safety.
Four decades of uninterrupted profitability and dividends.

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Unique Characteristics

Private sector bank despite government holding 53 percent of equity.


Sole banker and lender of last resort to the government of J&K.
Plan and non plan funds, taxes and non tax revenues routed through the bank.
Salaries of government officials disbursed by the Bank.
Only Private Sectors Bank designated as agent of RBI for Banking.
Carries out banking business of the Central Government.
Collects Taxes pertaining to Central Board of Direct Taxes in J&K.

Registered Office Corporate Headquarters

M A Road M A Road

Srinagar 190001 Srinagar 190001

Jammu & Kashmir Jammu & Kashmir

www.jkbank.net

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Products & Services

Support Services:-
Anywhere Banking
Internet Banking
SMS Banking
ATM Services
Debit Cards
Credit Cards
Merchant Acquiring

Depository Services:-
Demat Account
Other Services

Third Party Services:-


Mutual Funds
Insurance Services - Life & Non Life
Remittance Services

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Brand Identity

The new identity for J&K bank is a visual representation of the Banks philosophy and
business strategy. The three colored squares represent the regions of Jammu, Kashmir &
Ladakh. The counter form created by the interaction of the squares is a falcon with
outstretched wings- a symbol of power & empowerment. The synergy between the three
regions propels the bank towards new horizons. Green signifies growth and renewal, blue
conveys stability and unity. Red represents energy and power. All these attributes are
integrated and assimilated in the white counter-form.

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INTRODUCTION TO
THE TOPIC

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Customers

There is no statutory definition of customers. The word customer appears in sec.131 of the
negotiable instruments, 1881 but it is not defined therein. Obviously, a reference has to be
made to the opinion expressed by eminent authorities on banking as also to the decided cases
in order o appreciate the interpretation of what connotes a customer.

As expressed by Sir John Paget , to constitute a customer there must be some


recognizable course, or habit of dealing in the nature of regular banking business, that an
isolated transaction of that nature or series of transactions not commonly associated with
banking is not sufficient .

Thus, a person is not regarded as a customer of the bank immediately on opening an account
and the duration of dealings between the banker and the customer is the deciding factor as to
whether a particular person would be deemed to be a customer or not.

A person becomes a customer of a bank when he goes to the bank with money or a
cheque and asks to have an account opened in his name and the bank accepts the money or
cheque and is prepared to open an account in the name of that person, after that he is entitled
to be called a customer of the bank.

The quality of customer satisfaction in J&K bank has to be high as they are established
primarily to fill the existing gaps in banking and credit needs in urban and semi urban areas.
Meeting the legitimate aspiration of its customers will enable the bank to maintain its image,
create confidence and extract funds comparatively at low cost. RBI had set up a committee
headed by D.Subbarao, the chairman of SBI, to ensure empowerment in the customer service
rendered by banks.

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Customer Satisfaction

Customer satisfaction, in business terms, is a measure of how products and services supplied
by a company meet or surpass customer expectation. It is seen as a key performance indicator
within business. In a competitive marketplace, where businesses compete for customers,
customer satisfaction is seen as a key differentiator and increasingly has become a key
element of business strategy.

Customer Satisfaction: Business Definition

The degree to which customer expectations of a product or service are met, corporate and
individual customers may have widely differing reasons for purchasing a product or service
and therefore any measurement of satisfaction will need to be able to take into account such
differences. The quality of after-sales service can also be a crucial factor in influencing any
purchasing decision. More and more companies are striving, not just for customer
satisfaction, but for customer delight, that extra bit of added value that may lead to increased
customer loyalty. Any extra added value, however, will need to be carefully costed.

Measuring Customer Satisfaction

Organizations are increasingly interested in retaining existing customers while targeting non-
customers; measuring customer satisfaction provides an indication of how successful the
organization is at providing products and/or services to the marketplace.
Customer satisfaction is an ambiguous and abstract concept and the actual manifestation of
the state of satisfaction will vary from person to person and product/service to
product/service. The state of satisfaction depends on a number of both psychological and
physical variables which correlate with satisfaction behaviours such as return and recommend
rate.

The level of satisfaction can also vary depending on other options the customer may have and
other products against which the customer can compare the organization's products.

Because satisfaction is basically a psychological state, care should be taken in the effort of
quantitative measurement, although a large quantity of research in this area has recently been
developed. Work done by Berry (Bart Allen) and Brodeur between 1990 and 1998 defined
ten 'Quality Values' which influence satisfaction behaviour, further expanded by Berry in
2002 and known as the ten domains of satisfaction. These ten domains of satisfaction include:

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Quality, Value, Timeliness, Efficiency, Ease of Access, Environment, Inter-departmental
Teamwork, Front line Service Behaviours, Commitment to the Customer and Innovation.
These factors are emphasized for continuous improvement and organizational change
measurement and are most often utilized to develop the architecture for satisfaction
measurement as an integrated model. Work done by Parasuraman, Zeithaml and Berry
(Leonard L) between 1985 and 1988 provides the basis for the measurement of customer
satisfaction with a service by using the gap between the customer's expectation of
performance and their perceived experience of performance. This provides the measurer with
a satisfaction "gap" which is objective and quantitative in nature. Work done by Cronin and
Taylor propose the "confirmation/disconfirmation" theory of combining the "gap" described
by Parasuraman, Zeithaml and Berry as two different measures (perception and expectation
of performance) into a single measurement of performance according to expectation.
According to Garbrand, customer satisfaction equals perception of performance divided by
expectation of performance. The usual measures of customer satisfaction involve a survey
with a set of statements using a Likert Technique or scale. The customer is asked to evaluate
each statement and in term of their perception and expectation of performance of the
organization being measured.

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Types Of Deposit Products

Our bank provides diverse range of deposit products to meet expectations and requirements
of different customer segments and add value to them. The deposit products offered by the
bank are assigned different names and can be categorized broadly into the following types.
Definition of major deposit schemes is as under:

Saving Account

Salient features Account can be opened with a minimum initial


deposit of Rs.100/- to Rs.500/-
Convenient and easy to operate account to save
time and money.
Suitable for irregular income group No time bar on
depositing or withdrawing money.

Who can open this A person in his/her name.


account? More than one person in their joint names.
Minor through guardian or himself if above 10
years of age.
Illiterate persons.
Blind persons. - Associations, clubs, Societies,
Trusts, etc.

Term of Option No. I: 7 years, but scheme runs for 12


deposit years
Option No. II: 9 years, but scheme runs for 16

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years.
Option No III: 10 years but scheme runs for 20
years.

Payment
Allowed.
before
maturity

Loan
against
90% of the amount accumulated at the completion
deposit
of first phase.

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Mehandi Deposit

Salient Exclusively for the girl child. - Available in


Features five maturity slabs of 5,7,10,12 and 15 years.
The amount payable under the scheme is
predetermined as Rs.25,000/-, Rs.50,000/- and
Rs.1,00,000/-.
More the period, lesser the amount to be
deposited.
Free Personal Accidental Insurance Cover,
equivalent to the amount payable at the
maturity of the deposit.

Maturity Value Accidental Insurance Cover


Rs. 25,000 Rs. 25,000
Rs.50,000 Rs.50,000
Rs.1,00,000 Rs.1,00,000

Working of the Maturity Chart for General Public Accounts @


Scheme 7.50% 8.00% for 5 yrs maturity period)

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Amount to be Amount
Period
deposited (Rs) payable (Rs)

8,210 15 years 25,000

16,410 15 years 50,000

32,810 15 years 1,00,000

10,250 12 years 25,000

20,500 12 years 50,000

41,000 12 years 1,00,000

11,900 10 years 25,000

23,790 10 years 50,000

47,570 10 years 1,00,000

14,870 7 years 25,000

29,730 7 years 50,000

59,450 7 years 1,00,000

16,830 5 years 25,000

33,650 5 years 50,000

67,300 5 years 1,00,000

Payment
Allowed.
before
maturity

Loan against Allowed


deposits

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Global Access Card

Salient Pin Based -Maestro / Cirrus Debit Card.


Features Provides online access to savings or current
account.
Accepted at all Domestic as Well as
International MasterCard, Maestro,
Cirrus Enabled ATM's and Point Of Sale
locations.
Accepted at National Financial Switch
(NFS) ATM's.
No Transaction Fee at JK Bank ATM's
No Transaction Fee on purchases

Entry Fee & Entry Fee : Rs.100


Charges Half Yearly Usage Charges: Rs.50/-

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Transactional On MasterCard Based Other Bank ATM's (per
Charges Transaction)

Domestic Non Financial


Nil
Transaction

Domestic Financial Transaction Nil

International Non Financial


Rs.15
Transaction

International Financial
Rs.100
Transaction

On National Financial Switch based Other Bank


ATM's (per transaction)

Non Financial Trasaction Nwell

Financial Transaction Nwell

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Credit Card

Customer Benefits 20-50 day Credit Free Period


Revolving Credit Facility on paying of
minimum payment due in the same
billing period.
Hassle free credit facility at competitive
rate of interest.
Cash Withdrawal Facility upto 20% of
total credit limit.
Loyalty programme
24 Hour Customer Assistance at JK
Bank Helpdesk.

Types of Cards Blue Empowerment Card


Silver Empowerment Card
Gold Empowerment Card

Acceptability All Merchant Establishments like shops


who honour MasterCard Credit Cards.
All ATM's which accept MasterCard
Credit Cards.

Eligibility Annual Income


For Salaried -Above Rs 80,000.00
For Self Employed -Above Rs.
1,50,000.00

Documentation Income Proof


Address Proof
Identity Proof

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Credit Limits Blue Empowerment Card- Upto
Rs.25,000.00
Silver Empowerment Card-Upto
Rs.50,000.00
Gold Empowerment Card-Upto
Rs.1,00,000.00

Rate of Interest 2% per month

Late Fee Rs.100

Cash Withdrawal 2% per month from date of Withdrawal


Charges along with tranasctional charges.*

Note: Applications can also be submitted dwerectly at concerned Branch Offices

Internet Banking

Feature Available for both Retail and Corporate users.


s SMS Banking
Statement of Accounts.
Funds Transfer.

Corpor Both corporate and retail clients can access their accounts anytime and from
ate any location via the World Wide Ib. Presently following services are
Interne available to the corporate clients:
t
Access/view of accounts
Bankin
Transfer of Funds between self linked accounts maintained with our
g
bank.
Transfer of Funds from their own accounts to external accounts (e.g.

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Vendor payment)
Transfer of Funds from external to own accounts (e.g. dealer
collection).
Transfers of Bulk upload.
Transfer to non J&K Bank account holders through RBI NEFT.
Transfer of non-standard bills.
Utility bill payments.
Request for DD/PO, Chequebook, stop payment, opening of fixed
deposit and letter of credit.

eComm J&K Bank Secure Payment Gateway, to provide ecommerce facility


erce to the e-banking customers.
facility Tie up with M/S Avenues India Pvt. Ltd., an online shopping site, for
for JK extending ecommerce facility to the e-banking customers.
Bank The facility shall be available to only such e-banking users, which
eBanki have been enabled by the Bank for Bill Payment facility.
ng E-Banking users intending to purchase goods online through the
custom Ccavenue shopping site shall be required to:
ers
Logon to the Master Merchants (M/S Avenues India Pvt.
Ltd.)
website http://world.ccavenue.
com/content/clients.jsp.,
Select the item to be purchased
Select e-banking as the mode of payment.
Select the J & K Bank and the system will take the user to the
J & K Banks e-banking site prompting him to enter his e-
banking user-id and password.
After entering the Banks e-banking site the customer
will be able to pay the amount of bill by debit to its
own account.

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e- NSDL (National Securities Depository Ltd.), the first and largest
Paymen depository in India, established in August 1996 and promoted by
t of institutions of national stature responsible for economic development
Tax for of the country has since established a national infrastructure of
JK international standards that handles most of the securities held and
Bank settled in dematerialised form in the Indian capital market. Tax
E- Information Network (TIN), a repository of nationwide tax related
bankin information, has been established by National Securities Depository
g Limited on behalf of Income Tax Department of India (ITD)
custom
Although India had a vibrant capital market which is more than a
ers
century old, the paper-based settlement of trades caused substantial
problems like bad delivery and delayed transfer of title till recently.

e-Payment facilitates payment of direct taxes online by taxpayers. To


avail of this facility the taxpayer is required to have a net-banking
account with any of the banks certified by NSDL,CBDT and RBI for
collection of Direct TAX. Recently J&K Bank has been added to the
list.

32
OBJECTIVES OF THE
STUDY

33
Objectives Of The Study
The objectives of the present study, undertaken to review the customer services in J &K
Bank are:-
To examine the experience and expectations of the customers regarding deposit
products & financial services of J&K Bank.
To inquire into the reasons for the customers happiness and dissatisfaction with the
services provided by J&K Bank regarding deposit products & financial services.

Scope Of The Study


Since the concept of customer satisfaction is very wide with varied dimensions, the
study solicited views pertaining to experience & expectations of the customer regarding
deposit products; reasons for the customer happiness with the services/ facilities rendered by
J&K Bank.

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RESEARCH
METHODOLOGY

35
Research
Research is a systematic and continuous method of defining a problem, collecting the
facts and analyzing them, reaching conclusion forming generalizations. It is the systematic
and objective identification, collection, analysis, dissemination, and use of information for
the purpose of assisting management in decision making, by the identification of solutions to
problems and opportunities.
As per Websters 20th century dictionary, Research is defined as a careful patient,
diligent enquiry or examination in some field of knowledge undertaken to establish facts or
principles.

Research Methodology

The research methodology adopted conclusive and descriptive to study customer


satisfaction with special reference to J&K Bank services.

As the term suggests, conclusive research is meant to provide information that is useful in
reaching conclusions or decision making. The purpose of the conclusive research is to
provide a reliable or representative picture of the population with valid research
instrument.

Descriptive research describes data and characteristics of the population being studied.
Descriptive research answers who, what, where, when, and how. The descriptive design
deals with facts and characteristics concerning with individual respondents.

Research Design:
Research design is the plan, structure and strategy of investigation conceived so as to obtain
answers to research can be called fact oriented; it may be defining hypothesis, it may suggest

36
new opportunities, such that we had carried exploratory research that covers the survey of
individuals with interview. Typically, a research design involves the following components,
or tasks:
Defining the information needed.
Designing the research.
Specifying the measurement and scaling procedures.
Constructing and presenting a questionnaire or an appropriate form for data
collection.
Specifying the sampling process and sampling size.
Developing a plan of data analysis.

Exploratory Research Design


Explorative studies are undertaken with a view to know more about the problem.
These studies help in a proper definition of the problem, and development of specific
hypothesis is to be tested later by more conclusive research designs. Its basic purpose is to
identify factors underlying a problem and to determine which one of them need to be further
researched by using rigorous conclusive research designs.
Descriptive Research Design
Descriptive research is more rigid than exploratory research. As opposed to
exploratory research, descriptive research defines questions, people surveyed, and the method
of analysis prior to beginning data collection. In other words, the who, what, where, when,
why and how aspects of the research are defined in advance. Such preparation allows the
opportunity to make any required changes before the costly process of data collection has
begun.
Preparation of research design
Decision regarding what, where, when, how much by what means connecting an enquiry or a
research study constitute a research study constitute a research design .It constitutes the blue
print for the collection measurement and analysis of the data.
Research design encompasses the following:
-Data collection

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-Type of research design
-Research tools

Data Collection
After the research problem in marketing has been identified and selected, the next step is to
gather the requisite data. At this stage, there is much temptation among the researchers to
organize the field survey to collect the data. While a field survey may be necessary for data
collection, it should be resorted to only when all other sources of data collection have been
exhausted.
Process Of Data Collection:
There are two basic types of data: Secondary & Primary.
1)Secondary Data:
Secondary data is one which is already collected by individuals or organizations which is
either published or unpublished. In other words, it is readily available in various forms & the
researcher is to pick & choose the extent & relevance to his needs. Thus, secondary data
represent the existing information which may be available from internal records or external
records.

Sources Of Secondary Data:


a) Internal Data: Different internal reports prepared by the firms.
Financial reports
Balance-sheet
Working capital statement
Income & Expenditure account
Broucher & Prospectus, etc.
b)External Data: Different reports gathered through govt., commercial, industry &
miscellaneous sources.

Indexes
Guides
Directories & so on.

2)Primary Data:
Primary data is one which is collected details regarding his research problem. Primary data is
the first hand data collected by means of observation & communication. In majority of cases,

38
researchers will have to go in for primary data in addition to secondary data. The experts
have expected two basic methods or means of getting the primary data namely
Communication & Observation.
1) Communication Method: Communication involves the questioning the selected
respondents to get the detailed desired information using a questionnaire.
Questionnaire
Interviews, etc.
2) Observation Method: Observation is the process of observing the respondents about
their current behaviour where no questions are asked & their observed behaviour or
reaction is recorded.
Questionnaire

A Questionnaire, whether it is called a schedule, interview form, or measuring


instrument, is a structured technique for data collection that consists of series of question,
written or verbal, that a respondent answers.
Objectives of a Questionnaire
It must translate the information needed into a set of specific questions that the
respondents can and will answer.
A questionnaire must uplift, motivate, and encourage the respondent to become involved
in the interview, to cooperate, and to complete the interview.
A questionnaire should minimize response error

Sample Size

Sample Size: The sample size taken is 100

39
DATA ANALYSIS &
INTERPRETATION

40
Data Analysis & Interpretation

Managers need information, not raw data. Research helps in generating information
by analyzing data after its collection. Data analysis usually involves reducing accumulated
data to a manageable size, developing summaries, looking for patterns and applying statistical
techniques. Scaled responses on questionnaires and experimental instruments often require
the analyst to derive various functions, as well as to explore relationships among variables.
In various cases when we deal with statistics we find that the variables are related to
each other or we can also say two variables seem to move in the same direction such as both
are increasing or decreasing or even some factors tend to move in the opposite direction also
means one is increasing and the other is decreasing. Analysis has been done by applying
various statistical tools to study the basic factors that lead to Job satisfaction among Job
Work Assignees.

41
Age of respondents

Age % of Respondents

Less than 20 2

20-40 years 63

40-60 years 25

60-80 years 6

80 years and above 4

Respondents

2%
6% 4%

25% Less than 20


20-40 years
40-60 years
63%
60-80 years
80 years and above

Interpretation
Most of the customers of the bank are within the age group of 20-60.

42
Gender

Gender % of Respondents
Male 75
Female 25

Respondents

Female
25%

Male
75%

Interpretation

Most of the customers associated with the bank are male.

43
Profession

Profession % of Respondents

Business 44

Salaried 19

Student 22

Others 15

Respondents

15%

44% Business
22%
Salaried
Student
19% Others

Interpretation
Most of the customers of the bank are from the business class.

44
Questions Asked Through Questionnaire

Q1. How long have you been a customer of J&K bank?

Time Period % of Respondents


Less than 1 year 7
1-3 years 18
3-5 years 24
5-7 years 30
More than 7 years 21

Respondents
7
21
Inte 18 Less than 1 year
rpr 1-3 years
3-5 years
etat
5-7 years
ion More than 7 years
30 24
This
sho
ws that out of 150 respondents, Most of them were the customers of the for more than 5
years.

45
Q2. Are you aware of the any/ all of the deposit products?

Deposit Products % of Respondents


SB Ujala 12
Child Care Deposit 27
Mehandi Deposit 11
Smart Saver 11
Flexi Deposit 16
Recurring Plus 23

Respondents

SB Ujala
12%
23% Child Care Deposit
Mehandi Deposit
27%
16% Smart Saver
Flexi Deposit
11% 11%
Recurring Plus

Interpretation

Very few were aware of these deposit products and out of these, most of them were aware of
child care deposits.

46
Q3.What type of deposit products services you access with J&K bank?

Deposit Products % of Respondents


Saving Account 90
Current Account 18
Fixed Deposit 21
Recurring Deposit 8

Respondents

21

Saving Account
Current Account

18 Fixed Deposit
Recurring Deposit
90

Interpretation

This shows that savings account is the most accessible and popular deposit product among
the customer and Recurring Deposit is the least.

47
Q4. How would they rate that particular services being provided by the J&K bank?

Ratings % of Respondents
Excellent 24
Good 62
Average 11
Poor 2
Very Poor 1

Respondents
2% 1%

11% 24%
Excellent
Good
Average

62% Poor
Very Poor

Interpretation

This shows that most of the customers are happy with the services provided by J&K Bank
and they rate the services as good.

48
Q5. Are you aware of the following financial services of the J&K bank?

Financial services % of Respondents


Internet banking 20
Credit card 28
Depository networks 4
Debit/ATM card 48

Respondents

20%

Internet banking
48% Credit card
Depository networks
Debit/atm card
28%

4%

Interpretation

Most of the customers were aware of Debit/ATM Card and very few were aware of
depository networks.

49
Q6. Do you access any of the above mentioned financial services of the J&K bank?

Services accessed % of Respondents


Yes 73
No 27

Respondents

27%

Yes
No

73%

Interpretation

Out of 150 respondents, only 110 respondents are accessing these financial services.

50
Financial services % of Respondents
Internet banking 3
Credit card 10
Depository networks 0

Debit/ATM card 87

Respondents

3
10 0

Internet banking
Credit card
Depository networks
Debit/ATM card

87

Interpretation

Debit/ATM Card service is the most accessed service.

51
Q7. Have you face any sort of difficulty while using any of the financial services?

Difficulty Faced % of Respondents


Yes 18
No 82

Respondents

18%

Yes

No

82%

Interpretation

Out of these 110 respondents, 90 of them do not face any sort of difficulty while using these
financial services while 20 of them are facing some sort of difficulty.

52
Q8. Does information about the latest offers/interest rates of the deposit products & financial
services of bank easily accessible?

Information accessibility Respondents


Yes 42
No 58

Respondents

42%

58% Yes
No

Interpretation
Out of 150 respondents, 63 respondents agreed that the information about the latest
offers/interests rates is easily accessible while 87 dont agree with this.

53
Sources Of Awareness

Sources of awareness % of Respondents


Advertisements 39
Employees 50
Sale representatives 0
Others 11

Respondents

0% 11%

39% Advertisements
Employees
Sale representatives
Others
50%

Interpretation

Employees are the major source of information to the customers.

54
Q9. Whether the formalities required for opening an account in J&K bank are easy to fulfil?

Easiness in the fulfilment of formalities % of Respondents


Yes 84
No 16

Respondents

16%

Yes
No
84%

Interpretation

Out of 150 respondents, 126 of the respondents agreed that the formalities required for
opening of the account are easy to fulfil while 24 of the respondents do not agree with this.

55
Q10. Are the rate of interest on deposit/advances are competitive & upon your satisfaction?

Satisfaction with interest rates % of Respondents

Yes 83

No 17

Respondents

17%

Yes
No

83%

Interpretation

Out of 150 respondents, 124 of the respondents favours that interest rates are competitive &
upon their satisfaction.

56
Q11. What type of charges levied by the bank for the financial services provided by them?

Charges levied % of Respondents


Cheaper 29
Competitive 22
Affordable 42
Costly 7

Respondents

29
Cheaper
Competitive
Affordable
42
Costly

22

Interpretation

Most of the customers find the charges levied as cheaper and affordable.

57
Q12. Does holding your deposit account to your nearest J&K bank enhance your satisfaction?

Satisfaction enhancement % of Respondents


Yes 83
No 17

Respondents

17%

Yes
No

83%

Interpretation

Out of 150 respondents, 125 of the respondents agrees that holding their deposits to their
nearest J&K bank branch enhance their satisfaction while 25
were not of the same opinion.

58
Q13. How would you rate the employees on helpfulness, in other words willingness to help
you?

Employees on helpfulness % of Respondents


Excellent 21
Good 51
Average 23
Poor 3
Very Poor 2

Respondents
3% 2%

21%

23% Excellent
Good
Average
Poor
Very Poor

51%

Interpretation

Most of the respondents rated the employees as GOOD.

59
Q14. Do you want to see any change or improvement in the product & services?

Improvements % of Respondents
Increase in number of atms 63
Connectivity 31
Increase in the credit limits 26
Automatic renewal of fixed deposits 51

Respondents
Increase in number of atms Connectivity
Increase in the credit limits Automatic renewal of fixed deposits

51
63

26
31

Interpretation

Out of 150 respondents, each person responds to more than one option.
94 of the respondents want increase in the number of ATMs.
47 of the respondents want improvement in the connectivity of branches/ transaction
failure.
39 of the respondents want increase in the credit limits.
77 of the respondents want automatic renewal of fixed deposits.

60
Q15. Are they satisfied & would they like to continue with J&K bank?

Satisfaction % of Respondents
Yes 96
No 4

Respondents

4%

Yes
No

96%

Interpretation

Out of 150 respondents, 144 of the respondents are satisfied & would like to continue with
J&K bank while 6 of them were not satisfied with the bank.

61
Q16. How likely are you to recommend the deposit products (saving, fixed deposits, etc) and
financial services (internet banking, credit card, debit card, etc) of J&Kbank to your friends
or relatives?

Recommendations % of Respondents
Excellent 24
Good 59
Average 11
Poor 5
Very poor 1

Respondents

Excellent
Good
Average
Poor
Very poor

Interpretation

Most of the respondents recommended the services as GOOD.

62
Q17. How would you rate the customer satisfaction level?

Customer satisfaction level % of Respondents


0 - 20 6
20 40 12
40 60 50
60 80 23
80 100 9

Respondents

9% 6%

12%
0 - 20
23% 20 - 40
40 60
60 80
80 - 100

50%

Interpretation

Most of them were satisfied with the bank and its services.

63
LIMITATIONS

64
Limitations Of The Study

The sample size for the survey was small.

Problems with incomplete questionnaires.

The analysis is based on the respondents reply, so there is an element of error.

The Direct personal investigation is restricted in scope.

Results are bound to be bias due to personal biasness.

Investors sample was very less, so it may not represent the actual results.

The respondent might not respond actual feelings or facts either to demonstrate a
superior status or by being frivolous while filling up the questionnaire.

Coverage of survey area is not sufficient to reach a satisfactory conclusion.

65
CONCLUSION

66
Conclusion

The success of any service sector organization/ bank depends on the loyalty of the
customers and positive customer service orientation of the staff. The major challenge for
bank today is their capacity to integrate with their national and global counterparts without
sacrificing their own cultural ethos.

The future of the government banks depends upon their capability to provide better
services in terms of variety, quality and cost. The government banks have to realize the
implication of market economy & adjust accordingly. However, the J&K bank will have to
equip itself to meet the challenges of tomorrow banking. With the committed performance,
leadership, professionalization of management, knowledge, skill, adoption of new technology
& positive attitude of employees of the bank, these organizations have a bright future.

Since the J&K bank is now operating in a more competitive environment, the need
for them to take care of customers requwerement has become more urgent. Winning over the
customer loyalty should be the guiding philosophy of the J&K bank. The bank must take
better care of their clients & thus should improve their image & customer satisfaction, & in
the process not loose sight of profit. Customer should be made aware not only of the various
schemes and services offered by the bank, but also the formalities, procedures, legal
requwerements & limitations in the matter of providing services by the bank, through a
proper mix of advertisement, literature, interfaces, seminars, customer meetings, etc.

The bank should involve their employees in all customers education programmes.
Time norms for specified business transaction should be displayed prominently in the
banking hall, so that it attracts the customers attention as well as that of the employees for
adherence. The J&K bank must explore the market and look more closely at customers
expectations and demands, if they have to succeed in the competitive & changed globalize
economic environment.

67
The future of the bank depends upon their capability to provide better service in
terms of variety, quality & cost. It is a matter of great satisfaction for the bank that the vast
majority of rural & urban middle class people & the poor regard the J&K bank, as their own
bank & like to associate with them, if they can provide the optimum economic benefits.
Given sincerity of approach, sound management & customer service, there is a tremendous
scope of bank to grow in the liberalized economy, notwithstanding the competition that is
emerging in the changed economic scenario.

68
FEEDBACK

69
Positive Feedback:-

Customers are satisfied with the services of the bank. According to them, the services
provided by the bank are good and up to their satisfaction.
Employees of the bank are good, cooperative, skilled, well-trained and efficient.
Behaviour of the bank employees is soft and polite.
Work culture is good in the bank
Good location of branches of the bank so that any customer can easily reach to any
branch.
ATMs are also situated along with most of the branches of the bank which provide
comfort and convenience to the customers.

Negative Feedback :-

Most of the customers suffers from parking problems in many branches .


e.g JK Bank Link Road, JAMMU, JK Bank Kachi Chhawni, JK Bank NUC, etc.
Delayed services & long waiting time in the QUEUE.
Entry on the Pass book isnt computerized.
System failure is often.

70
FINDINGS &
SUGGESTIONS

71
Findings & Suggestions

Most of the customers were male. So bank should motivate female to be the
customers of J&K bank.
Majority of the customers are those who were the customers of the bank for more than
5 years. But the percentage of new customers was very low. So bank should make a
strategy to attract new customers.
Very few of the customers are aware of the different deposit schemes being provided
by the bank. So high level awareness/ advertisements/promotions are needed to be
done in order to promote these deposit schemes/products.
The customers of J&K bank are having no knowledge regarding their Depositary
networks & are having very less information about Internet banking. They should be
made aware through various programmes.
Lack of information accessibility regarding interest rates/new offers is also the major
hurdle in promoting their services. It should be eradicated.
The bank should encourage its employees to be friendly & helpful in their dealing
with customers.
There should be automatic renewal of fixed deposits.
There is still room for the better operations of the financial services.
Number of ATMs should be increased.

72
BIBLIOGRAPHY

73
Reference Books

Marketing Management by Philip Kotler.


Marketing Management by C.N. Sontakki.

Websites

www.j&kbank.net
www.rbi.org.in
www.business.com

74
ANNEXURE

75
Questionnaire

NAME
AGE
SEX Male Female
PROFFESSION
a. Employee
b. Business
c. Student
d. Other
1) How long have you been a customer of J&K bank?
a. Less than 1 year
b. 1 3 years
c. 3 5 years
d. 5 7 years
e. More than 7 years

2) Are you aware of the any/all of the Deposits products?


a. SB Ujala
b. Child Care Deposit
c. Mehndi Deposit
d. Smart Saver
e. Flexi Deposit
f. Recurring Plus

3) What type of Deposit Product Services you access with J&K bank and please rate the
particular service which you are using?
a. Savings account
Excellent
Good
Average
Poor
Very Poor
b. Current Account
Excellent
Good
Average
Poor

76
Very Poor

c. Fixed Deposits
Excellent
Good
Average
Poor
Very Poor
d. Recurring Deposits
Excellent
Good
Average
Poor
Very Poor
4) Are you aware of the following financial services of the J&K bank?
a. Internet Banking
b. Credit Card
c. Depository Networks
d. Debit/ATM Card

5) Do you access any of the above mentioned financial services of the J&K bank?
a. Yes
b. No
If yes, then please mention.......................................

6) Have you faced any sort of difficulty while using any of the financial services?
a. Yes
b. No
If yes, then please mention......................................

7) Does information about the latest offers/ interest rates of the Deposit Products &
Financial services of the bank are easily accessible?
a. Yes
b. No

If yes, then please mention the means of your awareness?


a. Advertisements
b. Employees
c. Sale Representatives
d. Others

8) Whether the formalities required for opening an account in J&K bank are easy to
fulfil?

77
a. Yes
b. No

9) Are the rates of interest on deposits/advances are competitive and upon your
satisfaction?
a. Yes
b. No

10) What type of charges levied by the bank for the financial services provided by them?
a. Cheaper
b. Competitive
c. Affordable
d. Costly

11) Does holding your deposit accounts to your nearest J&K bank branch enhance your
satisfaction?
a. Yes
b. No

12) How would you rate the employees on helpfulness, in other words willingness to help
you?
a. Excellent
b. Good
c. Average
d. Poor
e. Very Poor

13) Do you want to see any change or improvement in the products and services?
a. Increase in the number of ATMs.
b. Connectivity of branches / transaction failure.
c. Increase in the Credit limits.
d. Automatic renewal of the fixed deposits.
If none of above, then please mention...........................................

14) Are you satisfied and would you like to continue with J&K bank?
a. Yes
b. No

15) How likely are you to recommend the deposit products (savings, FDs, etc) & financial
services (e-banking, credit/debit card) of J&K bank to your friends/relatives?
a. Excellent
b. Good
c. Average
d. Poor

78
e. Very Poor

16) How would you rate your satisfaction level?


a. 0 20
b. 20 40
c. 40 60
d. 60 80
e. 80 100

79