PROJECT REPORT ON

"Financial Analysis And Service Quality Of HDFC Bank"

SUBMITTED BY

PRAVIN DEVADIGA

(Roll No. 161)

T.Y.B.M.S. FINANCE SEMESTER V

ACADEMIC YEAR

(2016-2017)

UNDER THE GUIDENCE OF

Dr. AMIT NAIK

SUBMITTED TO

UNIVERSITY OF MUMBAI

S.K SOMAIYA COLLEGE OF ARTS SCIENCE AND COMMERCE

(AFFILIATED TO UNIVERSITY OF MUMBAI)

VIDYA NAGAR, VIDYA VIHAR (E),
MUMBAI 400 077.

1
DECLARATION

I PRAVIN DEVADIGA the student of TYBMS semester V (2017-18), hereby declare that I
have completed the project on "Financial analysis and service quality of HDFC bank". In the
academic year 2017-18 under the guidence of Amit Naik

The information submitted is true and original to the best of my knowledge.

Signature of student

2
CERTIFICATE

This is to certify that Mr./Ms. Pravin Devadiga Roll no:161 of Third

Year B.M.S., Semester V (2016-2017) has successfull completed the
project on “FINANCIAL ANALYSIS AND SERVICE QUALITY
OF HDFC BANK” un erthe guidance of

Course Coordinator Pnncrpal

Project Guide/ Internal Examiner

External Examiner

3
Acknowledgement

On the event of completion of my project, I take the opportunities to express my

deep sense of gratitude towards all those people without whose guidance,
inspiration timely help this project would have never seen light of the day. Any
accomplishment requires the effort many people and this project is not different. I
find great pleasure in expressing my deepest sense of gratitude towards my project
guide prof. Dr. Amit Naik whose guidence and inspiration right from the
conceptualization to the finishing stages proved to be very essential and valuable in
the completion of the project.

4
PROJECT REPORT

ON

“FINANCIAL ANALYSIS SERVICE

QUALITY OF HDFC BANK”
AT

5
INDEX

CONTENTS PAGE NO.

1. INTRODUCTION

2. COMPANY PROFILE

3. FINANCIAL ANALYSIS OF HDFC

4. RESEARCH OBJECTIVE

5. RESEARCH METHODOLOGY

6. REVIEW OF LITERATURE

7. DATA ANALYSIS

8. CONCLUSION

9. RECOMMENDATIONS

10. BIBLIOGRAPHY

11. ANNEXURE: QUESTIONNAIRE

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INTRODUCTION OF BANKING

Financial analysis (also referred to as financial statement analysis or accounting analysis or

Analysis of finance) refers to an assessment of the viability, stability and profitability of a
business, sub-business or project.
It is performed by professionals who prepare reports using ratios that make use of information
taken from financial statements and other reports. These reports are usually presented to top
management as one of their bases in making business decisions. Financial analysis may
determine if a business will:

● Continue or discontinue its main operation or part of its business;

● Make or purchase certain materials in the manufacture of its product;
● Acquire or rent/lease certain machineries and equipment in the production of its goods;
● Issue stocks or negotiate for a bank loan to increase its working capital;
● Make decisions regarding investing or lending capital;

Make other decisions that allow management to make an informed selection on various
alternatives in the conduct

Financial analysts often assess the following elements of a firm:

1. Profitability - its ability to earn income and sustain growth in both the short- and long-term.
A company's degree of profitability is usually based on the income statement, which reports on
the company's results of operations;

2. Solvency - its ability to pay its obligation to creditors and other third parties in the long-term;
3. Liquidity - its ability to maintain positive cash flow, while satisfying immediate obligations;

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Both 2 and 3 are based on the company's balance sheet, which indicates the financial condition
of a business as of a given point in time.

4. Stability - the firm's ability to remain in business in the long run, without having to sustain
significant losses in the conduct of its business. Assessing a company's stability requires the use
of both the income statement and the balance sheet, as well as other financial and non-financial
indicators. etc.

Method

Financial analysts often compare financial ratios (of solvency, profitability, growth, etc.):

● Past Performance - Across historical time periods for the same firm (the last 5 years for
example),
● Future Performance - Using historical figures and certain mathematical and statistical
techniques, including present and future values, This extrapolation method is the main
source of errors in financial analysis as past statistics can be poor predictors of future
prospects.
● Comparative Performance - Comparison between similar firms.

These ratios are calculated by dividing a (group of) account balance(s), taken from the balance
sheet and / or the income statement, by another, for example :

Net income / equity = return on equity (ROE)

Net income / total assets = return on assets (ROA)
Asset Management Ratios gauge how efficiently a company can change assets into sales.
Stock price / earnings per share = P/E ratio

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 Comparing financial ratios is merely one way of conducting financial analysis. Financial ratios
face several theoretical challenges:

● They say little about the firm's prospects in an absolute sense. Their insights about
relative performance require a reference point from other time periods or similar firms.
● One ratio holds little meaning. As indicators, ratios can be logically interpreted in at least
two ways. One can partially overcome this problem by combining several related ratios to
paint a more comprehensive picture of the firm's performance.
● Seasonal factors may prevent year-end values from being representative. A ratio's values
may be distorted as account balances change from the beginning to the end of an
accounting period. Use average values for such accounts whenever possible.
● Financial ratios are no more objective than the accounting methods employed. Changes
in accounting policies or choices can yield drastically different ratio values.
● Fundamental analysis.Financial analysts can also use percentage analysis which involves
reducing a series of figures as a percentage of some base amount. For example, a group
of items can be expressed as a percentage of net income. When proportionate changes in
the same figure over a given time period expressed as a percentage is known as
horizontal analysis. Vertical or common-size analysis, reduces all items on a statement to
a “common size” as a percentage of some base value which assists in comparability with
other companies of different sizes. As a result, all Income Statement items are divided by
Sales, and all Balance Sheet items are divided by Total Assets

● Another method is comparative analysis. This provides a better way to determine trends.
Comparative analysis presents the same information for two or more time periods and is
presented side-by-side to allow for easy analysis.of its business.

AWARDS

HDFC Bank began operations in 1995 with a simple mission: to be a "World-class Indian Bank".
We realised that only a single-minded focus on product quality and service excellence would help

9
us get there. Today, we are proud to say that we are well on our way towards that goal.
It is extremely gratifying that our efforts towards providing customer convenience have been
appreciated both nationally and internationally.

2016

Asiamoney FX Poll 2016 -Ranked No. 1 in the Best Domestic Provider for
FX Products and Services in India
-Ranked No.2 in the Best Domestic Provider of
FX Services and for FX Research and Market
Coverage
-Ranked No. 1 in the Best Local Cash
Management Bank in India
BrandZ Top 50 Most Valuable IndianHDFC Bank has been ranked India's most
Brands valuable brand for the 3rd consecutive year
CNBC-TV18 India Business LeaderOutstanding Business Leader of the year
Awards (IBLA) 2015-16
The Financial Express India's Best BanksLifetime Achievement Award to Mr.AdityaPuri
Awards
IDRBT Banking Technology ExcellenceBest Bank in Banking Technology Excellence for
Awards 2016 the year 2015-16
Cisco-CNBC TV 18 Digitizing IndiaAward for Innovations in the Financial Industry
Awards & Digital Banking
Dun & Bradstreet Corporate Awards 2016 HDFC Bank wins Dun & Bradstreet Corporate
Award 2016 in the Banking sector
The Financial Express India's Best Banks- Profitability: Rank 1
Awards 2015 - Efficiency: Rank 1
- Strength & Soundness: Rank 1
Outlook Money Awards 2015 - Best Bank of the year : Runner up

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 - Winner : Institutional Financial Distributor of
the year
Pension Fund Regulatory and Development- Best Performing Bank - Maximum APY
Authority awards for Atal Pension Yojana Subscribers
- Best Performing Bank in the Private sector
Banks category
- Best Performing Bank : Atal Pension Yojana
Carnivals in Private Sector Banks
Business Today KPMG India's Best Banks 2015 Awards
Barron's World's Top 30 CEOs Mr.AdityaPuri in Barron's Top 30 Global CEOs
for 2nd year
IBA Awards HDFC Bank wins prestigious IBA Banking
Technology Awards
Business Today Best Companies to Work for in India
NABARD Award Best Bank in JLG-Bank Linkage programme in
Assam
Business Today - KPMG India's Best Bank HDFC Bank wins Bank of the year and Best
Digital Banking Initiative awards
NABARD Award - The Best Bank in SHGHDFC Bank wins NABARD Award
Credit Linkage in Tamil Nadu

COMPANY
PROFILE

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

HDFC Bank comprises of a dynamic and enthusiastic team determined to accomplish the vision
of becoming a World-class Indian bank. HDFC bank‟s business philosophy is based on our four
core values - Customer Focus, Operational Excellence, Product Leadership and People. They
believe that the ultimate identity and success of their bank will reside in the exceptional quality
of people and their extraordinary efforts. They are committed to hiring, developing, motivating
and retaining the best people in the industry.

BUSINESS FOCUS

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

MISSION STATEMENT OF HDFC BANK

* World Class Indian Bank.

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* Benchmarking against international standards.

* To build sound customer franchises across distinct businesses

* Best practices in terms of product offerings, technology, service

levels, risk management and
audit& compliance

VISION STATEMENT OF HDFC BANK

The HDFC Bank is committed to maintain the highest level of ethical standards, professional
integrity and regulatory compliance. HDFC Bank‟s business philosophy is based on four core
values such as:-

1. Operational excellence.
2. Customer Focus.
3.Product leadership.
4. People.

The objective of the HDFC Bank is to provide its target market customers a full range of
financial products and banking services, giving the customer a one-step window for all his/her
requirements. The HDFC Bank plus and the investment advisory services programs have been
designed keeping in mind needs of customers who seeks distinct financial solutions, information
and advice on various investment avenues.

BUSINESS STRATEGY

* Increasing market share in India’s expanding banking

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* Delivering high quality customer service

* Maintaining current high standards for asset quality through

disciplined credit risk management

* Develop innovative products and services that attract targeted

customers and address inefficiencies in the Indian financial
sector.

DISTRIBUTION NETWORK

HDFC Bank is headquartered in Mumbai. The Bank at present has an enviable network of over
1229 branches spread over 444 cities across India. All branches are linked on an online real-time
basis. Customers in over 120 locations are also serviced through Telephone Banking. The Bank's
expansion plans take into account the need to have a presence in all major industrial and
commercial centers where its corporate customers are located as well as the need to build a
strong retail customer base for both deposits and loan products. Being a clearing/settlement bank
to various leading stock exchanges, the Bank has branches in the centers where the NSE/BSE has
a strong and active member base.

The Bank also has a network of about over 2526 networked ATMs across these cities. Moreover,
HDFC Bank's ATM network can be accessed by all domestic and international Visa/MasterCard,
Visa Electron/Maestro, Plus/Cirrus and American Express Credit/Charge cardholders.

PROMOTER
HDFC is India's premier housing finance company and enjoys an impeccable track record in
India as well as in international markets. Since its inception in 1977, the Corporation has
maintained a consistent and healthy growth in its operations to remain a market leader in
mortgages. Its outstanding loan portfolio covers well over a million dwelling units. HDFC has
developed significant expertise in retail mortgage loans to different market segments and also

15
has a large corporate client base for its housing related credit facilities. With its experience in the
financial markets, a strong market reputation, large shareholder base and unique consumer
franchise, HDFC was ideally positioned to promote a bank in the Indian environment.

MANAGEMENT
Mr. C.M. Vasudev has been appointed as the Chairman of the Bank with effect from 6th July
2010 subject to the approval of the Reserve Bank of India and the shareholders. Mr. Vasudev has
been a Director of the Bank since October 2006. A retired IAS officer, Mr. Vasudev has had an
illustrious career in the civil services and has held several key positions in India and overseas,
including Finance Secretary, Government of India, Executive Director, World Bank and
Government nominee on the Boards of many companies in the financial sector.
The Managing Director, Mr. Aditya Puri, has been a professional banker for over 25 years, and
before joining HDFC Bank in 1994 was heading Citibank's operations in Malaysia.
The Bank's Board of Directors is composed of eminent individuals with a wealth of experience
in public policy, administration, industry and commercial banking. Senior executives
representing HDFC are also on the Board.
Senior banking professionals with substantial experience in India and abroad head various
businesses and functions and report to the Managing Director. Given the professional expertise
of the management team and the overall focus on recruiting and retaining the best talent in the
industry, the bank believes that its people are a significant competitive strength.

TECHNOLOGY

HDFC Bank operates in a highly automated environment in terms of information technology and
communication systems. All the bank's branches have online connectivity, which enables the
bank to offer speedy funds transfer facilities to its customers. Multi-branch access is also
provided to retail customers through the branch network and Automated Teller(ATMs).
The Bank has made substantial efforts and investments in acquiring the best technology
available internationally, to build the infrastructure for a world class bank. The Bank's business
is supported by scalable and robust systems which ensure that our clients always get the finest
services we offer.

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

QUALITY POLICY

SECURITY: The bank provides long term financial security to their policy. The bank does
this by offering life insurance and pension products.

TRUST: The bank appreciates the trust placed by their policy holders in the bank. Hence, it will
aim to manage their investments very carefully and live up to this trust.

INNOVATION: Recognizing the different needs of our customers, the bank offers a range of
innovative products to meet these needs.

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INTEGRITY

CUSTOMER CENTRIC

PEOPLE CARE “ONE FOR ALL AND ALL FOR ONE”

TEAM WORK

BUSINESS

HDFC Bank offers a wide range of commercial and transactional banking services and treasury
products to wholesale and retail customers. The bank has three key business segments.

Wholesale Banking Services

The Bank's target market ranges from large, blue-chip manufacturing companies in the Indian
corporate to small & mid-sized corporates and agri-based businesses. For these customers, the
Bank provides a wide range of commercial and transactional banking services, including
working capital finance, trade services, transactional services, cash management, etc. The bank is
also a leading provider of structured solutions, which combine cash management services with

18
vendor and distributor finance for facilitating superior supply chain management for its corporate
customers. Based on its superior product delivery / service levels and strong customer
orientation, the Bank has made significant inroads into the banking consortia of a number of
leading Indian corporates including multinationals, companies from the domestic business
houses and prime public sector companies. It is recognised as a leading provider of cash
management and transactional banking solutions to corporate customers, mutual funds, stock
exchange members and banks.

Retail Banking Services

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

The HDFC Bank Preferred program for high net worth individuals, the HDFC Bank Plus and the
Investment Advisory Services programs have been designed keeping in mind needs of customers
who seek distinct financial solutions, information and advice on various investment avenues. The
Bank also has a wide array of retail loan products including Auto Loans, Loans against
marketable securities, Personal Loans and Loans for Two-wheelers.

It is also a leading provider of Depository Participant (DP) services for retail customers,
providing customers the facility to hold their investments in electronic form. HDFC Bank was
the first bank in India to launch an International Debit Card in association with VISA (VISA
Electron) and issues the Mastercard Maestro debit card as well. The Bank launched its credit
card business in late 2001. By March 2010, the bank had a total card base (debit and credit cards)
of over 14 million. The Bank is also one of the leading players in the “merchant acquiring”
business with over 90,000 Point-of-sale (POS) terminals for debit / credit cards acceptance at
merchant establishments. The Bank is well positioned as a leader in various net based B2C

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opportunities including a wide range of internet banking services for Fixed Deposits, Loans, Bill
Payments, etc.

Treasury

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

SERVICE QUALITY IN BANKS

In the days of intense competition, the banks are no different from any other consumer marketing
company. It has become essential for the service firms in general and banks in particular to
identify what the customer's requirements are and how those customer requirements can be met
effectively. In the days where product and price differences are blurred, superior service by the
service provider is the only differentiator left before the banks to attract, retain and partner with
the customers. Superior service quality enables a firm to differentiate itself from its competition,
gain a sustainable competitive advantage, and enhance efficiency .The benefits of service quality
include increased customer satisfaction, improved customer retention, positive word of mouth,
reduced staff turnover, decreased operating costs, enlarged market share, increased profitability,
and improved financial performance. The construct of service quality has therefore been a
subject of great interest to service marketing researchers.
Service quality has been defined by various experts in various ways as: 'Service Quality is the
difference between customers' expectations for service performance prior to the service
encounter and their perceptions of the service received.' According to Gefan „Service quality is

20
the subjective comparison that customers make between the qualities of service that they want to
receive and what they actually get.' Parasuraman says, 'Service quality is determined by the
differences between customer's expectations of services provider's performance and their
evaluation of the services they received.
Service quality is 'the delivery of excellent or superior service relative to customer expectations‟.
Service quality is recognized as a multidimensional construct. While the number of dimensions
often varies from researcher to researcher, there is some consensus that service quality consists
of three primary aspects: outcome quality, interaction quality, and physical service environment
quality. Outcome quality refers to the customer's assessment of the core service which is the
prime motivating factor for obtaining the services (e.g. money received from ATM). Interaction
quality refers to the customer's assessment of the service delivery process, which is typically
rendered via a

physical interface between the service provider, in person, or via technical equipment, and the
customer. It includes, for instance, the consumer's evaluation of the attitude of the service
providing staff. The physical service environment quality dimension refers to the consumer's
evaluation of any tangible aspect associated with the facilities or equipment that the service is
provided in/ with. It includes, for example, the physical conditions of an ATM machine.
The most popular dimensions of service quality--features five dimensions: tangibles,
reliability, responsiveness, empathy, and assurance. The tangibles dimension corresponds to
the aforementioned physical environment aspect, the reliability dimension corresponds to the
service outcome aspect, and the remaining three represent aspects of interaction quality. Both the
costs and the revenue of firms are affected by repeat purchases, positive word-of-mouth
recommendation, and customer feedback. Moreover, there is strong evidence that service quality
has either a direct influence on the behavioral intentions of customers and/or an indirect
influence on such intentions, mediated through customer satisfaction.
RATER is an instrument that might be used to define and measure banking service quality and
to create useful quality-assessment tools.

The RATER may finally provide the following benefits to the HDFC bank:

21
1. It is the first approach to add and mix the customers‟ religious beliefs and cultural values with
other quality dimensions.

2. It provides for multi-faced analysis of customer satisfaction.

3. It links quality with customers‟ satisfaction and service encounter.

4. It provides information at several levels, already organized into meaningful groupings.

5. It is a proven approach, which results in usable answers to meet customers‟ needs.

6. It is empirically grounded, systematic and well documented.

Banks managers can use the RATER model and its dimensions first to identify the
following issues:

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DIMENSIONS OF SERVICE QUALITY

TANGIBILITY: This dimension deal with modern looking equipments and visual appealing
part of banks.

23
RELIABILITY: This dimension has a direct positive effect on perceived service quality and
customer satisfaction in banking institutions. Banks must provide error free service and secure
online transactions to make customers feel comfortable.

RESPONSIVENESS: Customers expect that the banks must respond their inquiry promptly.
Responsiveness describes how often a bank voluntarily provides services that are important to its
customers. Researchers examining the responsiveness of banking services have highlighted the
importance of perceived service quality and customer satisfaction.

ASSURANCE: Customer expects that the bank must be secured and the behavior of the
employees must be encouraging.

EMPATHY: individual attention, customized service and convenient banking hours are very
much important in today’s service.

In order to achieve better understanding of service quality in banking sector, the proposed five
service quality dimensions are conceptualized to illustrate the overall service quality of the
banking in relation to customers‟ and providers perspective.

Banking was in the sector featuring medium goods and higher customer producer interactions,
since in banking, consumers and service providers interact personally and the use of goods is at a
medium level. Hence, in banking, where there are high customer-producer interactions, the
quality of service is determined to a large extent by the skills and attitudes of people producing
the service.

In the case of services, because customers are often either direct observers of the production
process or active participants, how the process is performed also has a strong influence on the
overall impression of the quality of service. A well-performed service encounter may even
overcome the negative impression caused by poor technical quality as well as generate positive
word-of-mouth, particularly if customers

24
can see that employees have worked very hard to satisfy them in the face of problems outside
their control. Employees are part of the process, which connects with the customer at the point of
sale, and hence employees remain the key to success at these service encounters or “moments of
truth”. It is these encounters with customers during a service that are the most important
determinants of overall customer satisfaction, and a customer’s experience with the service will
be defined by the brief experience with the firm’s personnel and the firm‟s systems. The
rudeness of the bank’s customer service representative, the abruptness of the employee at the
teller counter, or the lack of interest of the person at the check deposit counter can alter one‟s
overall attitude towards the service, perhaps even reversing the impression caused by high
technical quality.

Another important service quality factor, competence, is defined by whether the bank performs
the service right the first time, whether the employees of the bank tell customers exactly when
services will be performed, whether the bank lives up to its promises, whether customers feel
safe in their transactions with the bank and whether the employees show a sincere interest in
solving the customers‟ problems. In short, this dimension is related to the banks‟ ability to
perform the promised service accurately and dependably. Performing the service dependably and
accurately is the heart of service marketing excellence. When a company performs a service
carelessly, when it makes avoidable mistakes, and when it fails to deliver on promises made to
attract customers, it shakes customers‟ confidence in its capabilities and undermines its chances
of earning a reputation for service excellence.

It is very important to do the service right the first time. In case a service problem does crop up,
by resolving the problem to the customer’s satisfaction, the company can significantly improve
customer retention. However, companies fare best when they prevent service problems
altogether and fare worst when service problems occur and the company either ignores them or
does not resolve them to the customer’s satisfaction.

Performing the service accurately is perhaps the most important factor in service quality
excellence. The cost of performing the service inaccurately includes not only the cost of redoing

25
the service but also the cost associated with negative word-of-mouth generated by displeased
customers. In case of services, the factory is the field. Again, services are intangible and hence
the criteria for flawless services are more subjective than the criteria for defect-free tangible
goods. Hence for most services, customers‟ perceptions of whether the service has been
performed correctly, and not provider-established criteria, are the major determinants of
reliability.

The service quality factor tangible is defined by whether the physical facilities and materials
associated with the service are visually appealing at the bank. These are all factors that customers
notice before or upon entering the bank. Such visual factors help consumers form their initial
impressions. A crucial challenge in service marketing is that customers cannot see a service but
can see the various tangibles associated with it - all these tangibles, the service facilities,
equipment and communication materials are clues about the intangible service. If unmanaged,
these clues can send to the customer’s wrong messages about the service and render ineffective
the marketing strategy of the company. On the other hand, improving quality through tangibles
means attention to the smallest details that competitors might consider trivial. Yet, these visible
details can add up for customers and signal a message of caring and competence.Customers may
reveal new aspects of service quality in banking that are important to them, and these would have
to be incorporated in the scale so as to further explore the concept of service quality in the
banking arena.

RESEARCH OBJECTIVE

The objective of the study is as follows:

➢ To examine the essential dimensions of service quality i.e. RATER- Reliability, assurance,
tangibles, empathy and responsiveness of HDFC bank and its effect on customer’s satisfaction.

➢ To find out the level of perception of the customers from the service quality offered by the
banks.

26
➢ To know which service quality dimension of the bank is performing well.

➢ To identify which dimension of service quality needs improvement so that the quality of
service of HDFC banks is enhanced.

IMPORTANCE AND SCOPE OF THE STUDY

The study would try to throw some insights into the existing services provided by the banks,
perceptions and the actual service quality of the bank. The results of the study would be able to
recognize the lacunae in the system and thus provide key areas where improvement is required
for better performance and success ratio. In the days of intense competition, superior service is
the only differentiator left before the banks to attract, retain and partner with the customers.
Superior service quality enables a firm to differentiate itself from its competition, gain a
sustainable competitive advantage, and enhance efficiency

27
SCOPE OF STUDY

The scope of this research is to identify the service quality of HDFC bank. This research is based
on primary data and secondary data. This study only focuses on the dimensions of service quality
i.e. RATER. It aims to understand the skill of the company in the area of service quality that are
performing well and shows those areas which require improvement. The study was done taking
two branches of HDFC bank into consideration.

REVIEW OF LITERATURE

It is relevant to refer briefly to the previous studies and research in the related areas of the subject
to find out and to fill up the research gaps. The following are the some studies conducted by the
eminent authors and practitioners on the area of service quality of banks

Manish Mittal and Arunna Dhademade (2005) they found that higher profitability is the only
major parameter for evaluating banking sector performance from the shareholders point of view.
It is for the banks to strike a balance between commercial and social objectives. They found that
public sector banks are less profitable than private sector banks. Foreign banks top the list in
terms of net profitability. Private sector banks earn higher non-interest income than public sector
banks, because these banks offer more and more fee based services to business houses or

28
corporate sector. Thus there is urgent need for public sector banks to provide such services to
stand in competition with private sector banks.
Dangwal and kapoor (2010) also undertook the study on financial performance of nationalized
banks in India and assessed the growth index value of various parameters through overall
profitability indices. They found that out of 19 banks, four banks had excellent performance, five
banks had good performance and six banks had poor performance. Thus the performance of
nationalized banks differ widely

Prasana Chandra (2010): Fundamental of financial management covers all the aspects of the
subject from the basics overview of the financial environment to the financial analysis and
financial planning. The basic consists of forms of business organization which gives detailed
information about the financial management of the organization. After the analysis part
budgeting of capital and fundamental valuation of concept is in detail. It provides an introduction
to the financial management and to the financial environment. The fundamental of financial
management provides a good coverage ofthe basic concepts relating to the financial
environment. The topics are explained with

various examples like the tax system, financial institution, banking arrangement & the regulatory
framework. All the concepts are explained using numerous examples & illustration besides the
illustration given within the chapter, additional concepts, tools & technique with illustration are
provided at the end of chapter section. The book takes an analytical approach and explains the
various analytical methods in context.

Jha DK and D S Sarangi (2011): The financial performance of seven public sector and private
sector banks during the period 2009-10. They used three sets of ratio, operating performance
ratio, financial ratio and Efficiency ratio. The study revealed that Axis bank was on the top of
these banks followed by ICICI, BOT, PNB, SBI, IDBI and HDFC.
(Dhandabani, 2010), Examined the nature of linkage between service quality and customer
loyalty in Indian retail banking. Study used confirmatory factor analysis to identify the service
quality dimension. The resulted dimensions are Reliability, Responsiveness, Knowledge and

29
recovery; and Tangibles. The service quality dimensions lead to customer satisfaction and the
customers' satisfaction leads to customer's loyalty. The structural equation model reveals that
there is no significant direct linkage between service quality and customers loyalty. At the same
time, the service quality has a significant indirect impact on customer's loyalty especially
through customer's satisfaction.

Prabha, Divya et al. (2006)', in their study analyzed the service quality perceptions of the
Corporate customers in Coimbatore regarding the services provided by their banks. For the study
they considered both product and service based sectors and SERVQUAL scale based
questionnaire for the survey. By this study it has been revealed that even though customers are
more satisfied with the competence and customer orientedness dimensions of service quality,
still banks need to focus upon the aspects of communication, modernization and quickness of
service.

Bhat, Mushtaq A. (2005)~ conducted a study to examine service quality in banks and its
variation across demographic variables. The data required for the study has been collected from
800 customers of five different banks, viz., State Bank of India, Punjab National Bank, Jammu &
Kashmir Bank, City Bank and SCGB, scattered over four northern states of India. The study
revealed that service quality of foreign banks is comparatively much better than that of Indian
Banks and there are service quality variations across demographic variables like age, income,
occupation, geographic location of banks etc.

Bodla, B.S. (2004)~ through his empirical study, tried to examine and measure the quality of
services provided by commercial banks in India. For the study, sample consisted of the
customers of four private sector banks and four pubic sector banks in Chandigarh, Delhi and
Haryana. The study revealed the significant gap existed between the expectations and
perceptions in relation to quality of services offered by these selected banks. It also found that

30
service quality of private sector banks is better than that of public sector banks on all dimensions
except 'assurance'.

Chang, Tung-Zong (2004)~ pointed out in his study that superior service quality has a
positive effect on business profitability. It proposed a model for the positive relationship between
market orientation and business performance, ie., market orientation --+ service quality +
business performance.
Sharma, Alka et al. (2004)~ compared four leading banks by using American perspective
concept of service quality - SERVQUALISERVPERF, on the assumption that customers do not
perceive quality as a onedimensional concept. This model explains the service quality on the
basis of gap between the expected level of service and perception of the customers regarding the
level of service received. The study pointed out that ICICI bank and SBI provide better quality
services compared to the services of other banks and public sector banks have failed to satisfy
their customers.

Dr. (Mrs.) Anita (2014): It is very important for the customer to spend some of their time in
banks to avail all services. Relationship marketing should be emphasized on the co-operate staff
members and special training should be provided also private banks are ahead of public banks in
the strategic intent. Also in order to keep the customer satisfied the infrastructure of the banks
decor sitting facility are adequate also overall improvement of the banks is necessary by making
the customers available with the latest technology and services. Naloni studied the service
quality model for customers in PSB's she stated that the entry of new private sector banks has led
to improve customer service and products.

Renu Bagoria (2014): The main objective of this paper is to make a comparative study between
private sector banks and public sector banks and the adoption of various services provided by
this bank. The different services provided by these banks are M-Banking, Net banking, ATM,
etc. One of the services provided by the bank i.e. Mobile banking helps us to conduct numerous
financial transactions through mobile phone or personal digital assistant (pda).Data analysis had
been made in private sector banks like ICICI Bank, INDUSSIND Bank, HDFC Bank, Axis Bank

31
and public sector banks like SBI Bank, SBBJ, IDBI and OBC Bank. These banks also provide
Mobile Banking service. The overall study showed that the transaction of Mobile banking
through public sector bank is higher than private sector.

Neetu sharma, dr. Richa chaudhary, dr.harsh purohit (2014): Banking institution try to spread
Green environment product by way of Finance to those Industries which make "GreenProduct"
Eg : Automobile Industry give more importance to battery bike or solar car etc. Green banking is
an umbrella that makes bank sustainable in Economic, environment & Social dimensions. Green
banking is making technological improvement in banking sector. It is a smart way of thinking
with a vision of future sustainability. Green banking is still a major issue & can take an important
for development of our country India. The environmental friendly activities such as using energy
efficient

alliance, implement green data centers help in improving their operational efficiency as well as
cost saving factor for a long run.

Dr. Anurag B Singh and Ms.Priyanka Tandon (2012): The researcher has mentioned the
importance of the banking sector in the economic development of the country. In India banking
system is featured by large network of Bank branches, serving many kinds of financial services
of the people. The research Methodology used by there is a comparative analysis of both the
banks based on the mean and compound growth rate (CGR). The study is based on secondary
data collected from magazines, journals & other published documents. Which was a limitation
since it’s difficult to prove the geniuses of the data.
Pawankumar Avdhanam and Sriniwas Kolluru, Ramkrishne Fonnd, (2013) in their study that
state bank group other than SBI home finance has performed better throughout the period of
study. Though there was a decline in PAT for the year 2000-01 but then there was continuous
rise in PAT. Most public sector banks have performed better over year.
Vasant Desai, (2013): The performance of a bank can be assessed in there broad dimension viz.
business development, customer service and housekeeping. The resources that a branch has are
manpower, premises, planning, system procedure, organizational structure and general

32
administration. The efficiency of a branch would be measured by the extent which it has
balanced between three parameters

William George A J and Dr. Manoj P K (2013): This research paper is a study of the modern
management philosophy of customer relationship management (CRM) which deals with the
maintenance of a sound relationship with the customers. The study is carried out in the Kerala
based commercial banks. Also this study compares the CRM between the public and private
sector banks of the same region. Kerala has been very conducive and of great benefit for the
development of banking sector. The Indian banking sector is undergoing many changes and the
banks are facing many challenges. Customers switch banks and go to other banks where they
find better services and thus the find it difficult to retain their old customers.

MS. Foiza (2013): The development of electronic commerce is growing at a fast pace because of
advancing global infrastructure. To meet these demands businesses need innovative ways to
create value such as different IT infrastructure, different enterprise architectures and different
ways of thinking about doing business. By adopting technology in banks it has established the
use of different technology tools in banking. Which enables bank to reduce transaction cost,
saving money and also saving time’s E-Banking refers to deploying banking services over
electronic and communication networks directly to customers. Internet banking provides benefits
such as cost saving reaches new segment of population, efficiency, enhancement of the banks
reputation and better customer service.
Cheenu Goel, Chitwan Bhutani Rekhi, (2013)The commercial banking system provides a large
portion of the medium of exchange of a given country and is the primary instruments through
which monetary policy is implemented. Commercial banks make the productive utilization of
idle finds and thus assist the society to produce wealth. Berry, Kehoe and Lindgreen’s study
(1980) revealed that the most frustrating aspects of bank marketing were lack of management
support, lack of interdepartmental co-operation, crisis management and government intrusion. It
shows that during the earlier period there was not much focus on marketing of financial services.
There was hardly any marketing done by banks but after 1991 there are tremendous changes in
the banking sector in India competition among banks emerged due to entry of private sector
banks and foreign banks.

33
E. Gordon and K. Natrajan (2014): The economic development of any country depends on the
existence of a well-organized financial system. It includes financial markets and financial
institutions which support the system. Financial system provides the intermediation between
savings and investment and promoters faster economic development.
Garimachoudhary(2014): used network of banks, productivity of banks, capital adequacy ratio,
growth of banks as an indicator of measuring banks performance. The study related that private
sector banks have expanded faster than public sector banks.

The capital adequacy of new private sector banks is above RBI minimum requirements. However
the assets base of public sector banks raise faster than private sector banks.
Dr. (Mrs.) Anita (2014): It is very important for the customer to spend some of their time in
banks to avail all services. Relationship marketing should be emphasized on the co-operate staff
members and special training should be provided also private banks are ahead of public banks in
the strategic intent. Also in order to keep the customer satisfied the infrastructure of the banks
decor sitting facility are adequate also overall improvement of the banks is necessary by making
the customers available with the latest technology and services. Naloni studied the service
quality model for customers in PSB's she stated that the entry of new private sector banks has led
to improve customer service and products.
Renu Bagoria (2014): The main objective of this paper is to make a comparative study between
private sector banks and public sector banks and the adoption of various services provided by
this bank. The different services provided by these banks are M-Banking, Net banking, ATM,
etc. One of the services provided by the bank i.e. Mobile banking helps us to conduct numerous
financial transactions through mobile phone or personal digital assistant (pda). Data analysis had
been made in private sector banks like ICICI Bank, INDUSSIND Bank, HDFC Bank, Axis Bank
and public sector banks like SBI Bank, SBBJ, IDBI and OBC Bank. These banks also provide
Mobile Banking service. The overall study showed that the transaction of Mobile banking
through public sector bank is higher than private sector.

AlpeshGajera (2015) in his research article an financial performance evaluation of private and
public sector banks found that there in significance difference in the financial performance of

34
these banks and private sector banks are performed better than public sector banks in respect of
capital adequacy ratio and financial performance,

Dr Richa Jain, Prof. Mitali Amit Shelankar & Prof Bharti Sumit Mirchandani, (2015) Tools /
Techniques of financial statement analysis:- The various tools and techniques offinancial
statement analysis are

Trend Percentage Analysis: It is also known as Intra firm comparison in which the financial
statements of the same company for few years are compared for some important series of
information.
Comparative Statement: These are the statement of financial positions at different periods of
time. The financial position is shown in a comparative form over two period of time.
Common Size Statements: The common size statements, balance sheet and income statements
are shown in terms of percentages. The data is shown as percentage of total assets, liabilities and
sales.
Ratio Analysis: It is a technique of analysis and interpretation of financial statements. It is the
process of establishing and interpreting various financial ratios for helping in taking decisions.
Funds Flow Statements: It is a statement of studying the changes in the financial position of a
business enterprise between the beginning and the end it is a statement indicating rises of funds
for a period of time.
Cash Flow Statements: It shows the changes in cash flow between two periods.

Fernando Ferreng (2012) it is generally agreed that recent economic crisis intensified worldwide
competition among financial institution. This competition has direct impact on how bank deal
with their customer and achieve its objectives performance evaluation of banks is the key
function for improving banks performance. Banks profitability and success to a large extent
depends on bank branch financial performance
Ramchandan Azhagasahi and Sandanvn Gejalakshmi (2012): In their study found the impact of
assets management operational efficiency and bank size on the financial performance of the
public sector and private sector bank. The research revealed that bank with higher total capital
deposits and total assets do not always mean that they have better financial performance. The

35
overall banking sector is strongly influenced by assets utilization, Operational efficiency and
interest income.

NutanTroke and P K Pachorkar (2012): The study related that the private sector bank the
percentage of other income in the total income is higher than public sector bank. Public sector
bank depend on intent income for their efficiency and performance. The operational efficiency of
private sector banks is better than public sector banks. Private sector bank use their assets quality
better than public sector banks.

Dr.Dhanabhakyam & M.kavitha (2012) in their research used some important ratio to analyses
the financial performance of selected public sector banks such as ratio of advances to assets, ratio
of capital to deposit, ratio of capital to working fund, ratio of demand deposit to total deposit,
credit deposit ratio, return on average net worth ratio, ratio of liquid assets to working fund etc.
The ratio of advances to assets shows an increasing trend for most of the public sector bank. It
shows aggressiveness of bank in lending which ultimately result in high profitability.of capital to
deposit also indicates an increasing trend in the capital of banks. This ratio enables the bank to
meet the contingencies of repayment of deposit. The ratio of capital to deposit in decline. The
ratio capitals to working fund also indicate that the overall efficiency of the selected public
sector banks are good. On the other hand the ratios of demand depart to total deposit is declining.
This indicates better liquidity position of bank. The credit deposit ratio of most of the bank show
an increasing trend. It shows that the profitability of the banks in government. The return on
average net worth also shown an increasing trend.

36
RESEARCH METHODOLOGY

DATA SOURCE

Primary Data:

The primary data was collected by means of a survey. Questionnaires were prepared and
customers of the banks were approached to fill up the questionnaires. The questionnaire contains
18 questions which reflect on the type and quality of services provided by the banks to the
customers. The response of the customer and the is recorded on a grade scale of strongly
disagree, disagree, uncertain, agree and strongly agree for each question. The filled up
information was later analyzed to obtain the required interpretation and the findings.

Secondary Data:

In order to have a proper understanding of the service quality of bank a depth study was done
from the various sources such as books, a lot of data is also collected from the official websites
of the banks and the articles from various search engines like Google, yahoo search and
answers.com.

37
RESEARCH DESIGN

The research design is exploratory till identification of service quality parameters. Later it
becomes descriptive when it comes to evaluating customer perception of service quality of the
banks.

Descriptive research, also known as statistical research, describes data and characteristics
about the population or phenomenon being studied. Descriptive research answers the questions
who, what, where, when and how.

Although the data description is factual, accurate and systematic, the research cannot describe
what caused a situation. Thus, descriptive research cannot be used to create a causal relationship,
where one variable affects another. In other words, descriptive research can be said to have a low
requirement for internal validity.

The description is used for frequencies, averages and other statistical calculations. Often the best
approach, prior to writing descriptive research, is to conduct a survey investigation. Qualitative
research often has the aim of description and researchers may follow-up with examinations of
why the observations exist and what the implications of the findings are

38
RESEARCH SAMPLE

SAMPLING PLAN:

Since it is not possible to study whole universe, it becomes necessary to take sample from the
universe to know about its characteristics.

➢ Sampling Units: Customers of HDFC bank

➢ Sample Technique: Random Sampling.

➢ Research Instrument: Structured Questionnaire.

➢ Contact Method: Personal Interview.

SAMPLE SIZE:

The work is a case of HDFC Bank, one of the largest bank of Indian banking industry together
representing over 25 per cent of the market share of Indian banking space. The survey was
conducted in the city of Mumbai with two branches of HDFC Bank, with 100 customers as
respondent.

39
DATA COLLECTION TOOL

1. Strongly disagree

2. Disagree

3. Neither agree nor disagree

4. Agree

5. Strongly agree

Likert scaling is a bipolar scaling method, measuring either positive or negative response to a
statement. The questionnaire consists of two parts. The first part consists of four questions
concerning the demographic information of the respondent such as the name, age, educational
qualifications and gender. The second part consisting of 18 questions exploring the respondent’s
perception about the service quality of HDFC. For evaluation of service quality of HDFC bank
service quality dimension of reliability, assurance, tangibility, empathy and responsiveness is
used in order to evaluate the actual service quality of HDFC bank.

LIMITATIONS OF THE STRATEGY

40
 ● The study is only for the HDFC Bank confined to a particular location and a very small
sample of respondents. Hence the findings cannot be treated as representative of the
entire banking industry.

● The study can also not be generalized for public and private sector banks of the country.

● Respondents may give biased answers for the required data. Some of the respondents did
not like to respond.

● Respondents tried to escape some statements by simply answering “neither agree nor
disagree” to most of the statements. This was one of the most important limitation faced,
as it was difficult to analyse and come at a right conclusion.

● In our study we have included 100 customers of bank because of time limit.

DATA ANALSIS

Ques.1 HDFC bank has modern looking equipment.

41
 Strongly Disagree

Disagree

Neither agree nor disagree

Agree

Strongly agree

INTERPRETATION

HDFC bank has modern-looking and hi-tech equipments. Here analysis show that most of the
respondents disagreed with this statement. Among the total respondents 50% disagreed, 32%
were neutral and 8% agreed. After analysis I found that majority of the respondents think that
HDFC Bank do not have modern looking equipments or no hi-tech equipments.

Ques.2 The bank's physical features are visually appealing.

Strongly disagree

Disagree

42
Neither agree nor disagree

Agree
Strongly agree

INTERPRETATION

HDFC bank’s physical facilities are visually appealing. From this statement I found that 17
persons agreed. 29 persons were uncertain and 4 persons disagreed. This means 58% people
Were uncertain about this statement. Out of the total respondents only 4% disagreed and no one
strongly agreed or disagreed with the statement. 17% people agreed that HDFC bank’s physical
facilities are visually appealing.

CONCLUSION

Based on the study conducted it can be concluded that responsiveness, assurance and reliability
are the critical dimensions of service quality of HDFC bank and they are directly related to
overall service quality. The factors that may delight customers tend to be concerned more with
the intangible nature of the service, commitment, attentiveness, friendliness, care, and courtesy.

43
 The employees give prompt services, always are ready to answer the questions and
are trustworthy. The main sources of dissatisfaction appear to be cleanliness, up to date
technology modern equipments, and neatly dressed up employees. The Tangibility dimension of
service quality of HDFC bank is highly disappointing and serious steps are needed to be taken to
enhance this dimension. Customers of the bank are dissatisfied with the empathy dimension. To
satisfy these customers, the management can take some attempts, noted earlier as
recommendations.
The study brings about the areas which require urgent attention of the employees, the
management, and the policy makers of the industry. These are areas in which customers are
hugely dissatisfied with the services of the banks against their expectation. This high degree of
dissatisfaction resulting from the services received clearly questions the design of services or
subsequent response of the bank employees. These limitations are too serious to be avoided as
these question the front-line
people dealing with the customers and the approach of the management in taking customers
seriously.
The management should understand the benefits of service quality. It include increased
customer satisfaction, improved customer retention, positive word of mouth, reduced staff
turnover, decreased operating costs, enlarged market share, increased profitability, and improved
financial performance. In the days of intense competition, superior service is the only
differentiator left before the banks to attract, retain and partner with the customers. Superior
service quality enables a firm to differentiate itself from its competition, gain a sustainable
competitive advantage, and enhance efficiency. Thus, improving service quality leads to the
customer satisfaction and, ultimately, to customer loyalty.
RECOMMENDATIONS

➢ Reliability is an obvious place to start. Customers of the bank want to know their resources are
safe and within trustworthy institutions. A way to ensure this peace of mind would be to take
steps to ensure bank employees are well trained, so each bank associate is able to offer complete
and comprehensive information at all times. Consistent policies combined with a knowledgeable
staff will foster a high degree of institutional cohesion and reliability.

44
➢ Responsiveness, again when associated with a well-trained staff and timely answers to
service-related questions, would make significant inroads into causing HDFC bank be regarded
as responsive. Staff should be encouraged to present relevant options to banking customers in a
manner that does not resemble salesmanship so much as a desire to serve.

➢ Intangibles please customers just as much as tangibles in the banking industry. People tend to
visit the same branch of a bank over and over again. Usually, this is a location close to their
home or their workplace. It is natural that customers become comfortable and habituated to these
branch banks, for the same reason they develop familiarity with a neighborhood supermarket or
convenience store. It makes sense that bank employees would be encouraged to learn to
recognize these regular customers, learn their names, and begin to identify their basic service
requirements.

➢ Learning to understand customers‟ needs will allow bank associates to offer enhanced
services, perhaps lowering customers‟ banking costs and increasing their investment potential.
This could also open up the possibility of increased profits for banks, for when perceived as
more service and customer oriented, they will, in effect, become a useful
and pleasant way to “shop.”

➢ Keeping the bank with up-to-date technologically are important factors. Modern equipments,
new improved technology should be replaced with the old ones. If the staff inside is pleasant and
well-informed, in an aesthetically pleasing environment, then customer satisfaction will be high.

➢ The five-dimensional structure could possibly serve as a meaningful framework for tracking a
bank‟s service quality performance over time and comparing it against the performance of
competitors. Items on some dimensions should be expanded if that is necessary for reliability.

➢ Thus, the banking industries must continuously measure and improve these dimensions in
order to gain customers‟ loyalty.

45
BIBLIOGRAPHY

Websites
www.hdfcbank.com
www.hdfcindia.com
www. Scribd. Com
www.marketresearch.com

46
ANNEXURE: QUESTIONNAIRE

Name :
Age :
Educational qualification :
Gender:
a) Male.
b) Female

1. HDFC bank has modern looking equipment.

a) Strongly Disagree

47
 b) Disagree
c) Neither agree Nor disagree
d) Agree
e) Strongly Agree

2. The bank's physical features are visually appealing .

a) Strongly Disagree
b) Disagree
c) Neither agree Nor disagree
d) Agree
e) Strongly Agree

3. For the past how many years you have account with this bank?
Ans:

4. What type of account do you have in HDFC Bank?

a) Savings account
b) Current account
c) Both Savings and Current account
d) Others (please specify)
......................................

5. Why you have preferred this particular bank for opening an account?
( you may tick multiple )
a) Due to brand name
b) Less Documentation

48
 c) Near to your place
d) Due to existing account holder
e) Less processing time
f) For features and benefits

6. Do you hold any type of Credit card?

a) Yes
b) No

7. Have you taken any type of loan from HDFC bank?

a) Yes
b) No

8. The bank's reception desk employees are neat appearing.

a) Strongly Disagree
b) Disagree
c) Neither agree Nor disagree
d) Agree
e) Strongly Agree

9. When you have a problem, the bank shows a sincere interest in solving it.
a) Strongly Disagree
b) Disagree
c) Neither agree Nor disagree
d) Agree
e) Strongly Agree

10. Employees in the bank tell you exactly when the services will be performed.
a) Strongly Disagree
b) Disagree
c) Neither agree Nor disagree

49
 d) Agree
e) Strongly Agree

11. Employees in the bank are always willing to help you.

a) Yes
b) No
c) Maybe

12. The behavior of employees in the bank instills confidence in you.

a) Strongly Disagree
b) Disagree
c) Neither agree Nor disagree
d) Agree
e) Strongly Agree

13. You feel safe in your transactions with the bank.

a) Yes
b) No

14. The bank gives you individual attention.

a) Strongly Disagree
b) Disagree
c) Neither agree Nor disagree
d) Agree
e) Strongly Agree

15. What is your level of satisfaction with HDFC bank?

a) Fully Satisfied
b) Satisfied
c) Somewhat Satisfied

50
 d) Not satisfied at all

16. Would you recommend this bank to your friends, relatives, associates
a) Yes
b) No

17. Do you have any suggestions or services you would like to see offered at bank.
Ans:

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