Corporate Identification and Competition Analysis

SIP project report submitted in partial fulfillment of the requirements for the MMM
Program

By: BINISH DANIEL

Sinhgad Institute of Management and Computer Application (PUNE)

(2007-2009)
 CERTIFICATE

This is to certify that Mr. Binish Daniel of Sinhgad institute of management and computer
application has successfully completed the project work titled “Corporate Identification and
Competition Analysis” in partial fulfillment of requirement for the award of MMM

This project is the record of authentic work carried out during the academic year
2007 – 2008.

BINISH DANIEL Dr. Trupti

(MMM) (Project Guide)

Batch 2007-2009

CONTENTS
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ACKNOWLEDGEMENTS……………………………………………………………5

(I) EXECUTIVE SUMMARY.................................................................................6

(II) INTRODUCTION…………………………………..………………………… 7
(III) ABOUT THE PROJECT……………………………………………...….……9
(IV) METHODOLOGY……………………………………………………………11

1. INDIAN BANKING SECTOR AND OVERVIEW….

……………..13
1.1 Early History……………………………………………..13
1.2 During the War.…………………………………………..15
1.3 Post Independence…………………………………...…...16
1.4 Nationalization………………………………………..….16
1.5 Liberalization…………………………………………….17
1.6 Current Situation……………………………………….. 17

2. HDFC BANK………………………………………………………....20
2.1 History……………………………………………………20
2.2 Mission…………………………………………………...20
2.3 Businesses………………………………………………..21
2.3. A Wholesale Banking Services…………………..21
2.3. B Retail Banking Services..……………………....21
2.3. C Treasury………………………………………..22
2.4 Distribution Network……………………………………. 23

3. CORPORATE SALARY ACCOUNT…………………………….. .24

3.1 HDFC Bank……………………………………………....24
3.1. A Overview………………………………….......24
3.1. B Products:
3.1. B.i Corporate Salary Premium Account……....24
3.1. B.ii Corporate Salary Regular
Account……….27
3.2 ICICI Bank……………………………………………… 28
3.3 Axis Bank……………………………………………….. 31
3.4 State Bank of India……………………………………… 34
3.5 IndusInd Bank…………………………………………... 35
3.6 IDBI Bank………………………………………………. 37
3.7 Union Bank of India…………………………………….. 39

4. COMPARITIVE SWOT ANALYSIS……………………………....40

4.1 SWOT Analysis of Competitors………………………....40
4.2 SWOT Analysis of HDFC Bank………………………....42

5. ANALYSIS & INTERPRETATION………………………………..44

5.1 Area wise analysis………………………………………..44
5.1. A Mapusa……………………………………...44
5.1. B Porvorim………………………………….....45
5.1 C Panjim………………………………………46
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 5.1 D Verna……………………………………….47
5.1 E Goa………………………………………....48
5.2 Sector wise analysis…………………………………….50
5.2 A Tourism…………………………………….50
5.2 B Manufacturing……………………………...51
5.2 C Logistics……………………………………52
5.2 D Pharmaceutical………………………….....53
5.2 E Real Estate…………………………………54

6. RESULTS ……………………..…………………………………….55
6.1 Key Findings……………………………………………56

7. RECOMMENDATIONS…………………………………………....57

8. LIMITATIONS……………………………………………………...58

9. BIBLIOGRAPHY...............................................................................59

10. ANNEXURE ………………………………………………………..60

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 ACKNOWLEDGEMENTS

“Acknowledgement is an art, one can write glib stanzas without meaning a word, and On the
other hand one can make a simple expression of gratitude”

Though the language is a poor substitute for the sentiments , yet there is no way out to
recover it for expressing my profound gratitude , indebtedness and sincere regards to Institute
Of Management Technology for giving me this platform from where I could pursue this
summer internship

My sincere thanks go to Mr. Ryan Noronha, (Manager Corporate Salary) and Mr. Supresh
Lingadkar, (Team Leader Corporate Salary) for being my company guide. It was under their
constant guidance that I have been able to complete my project and make it a true learning
experience.

I also thank to Mr. Abhishek Gupta for giving me this opportunity to get training in this
esteemed organization.

I also thank Dr Apoorva Palkar and Dr.Trupti without whose constant support it would not
have been possible to finish the project.

(BINISH DANIEL)

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 I. EXECUTIVE SUMMARY

Currently, India has 88 scheduled commercial banks (SCBs) - 28 public sector banks
(that is with the Government of India holding a stake), 29 private banks (these do not have
government stake; they may be publicly listed and traded on stock exchanges) and 31 foreign
banks. This has increased lot of competition among the banks to retain the existing customers
and to keep adding new customers. For this every bank has to be aware of strengths and
weakness of their counterparts, so that they can provide better service than their competitors.
This project will help HDFC bank in achieving this.

This report comprises of the following sections:

 Brief Introduction of the Indian Banking Sector

 Brief Introduction about HDFC Bank
 Methodology
 Details of products of HDFC Bank and other banks
 Comparative Analysis
 Proposed HDFC Strategy (Recommendations)

The Key findings of this report are:

 There are many companies which need to be tapped for corporate salary account.

 There are many features that HDFC Bank can add to its existing products.

 There is a strong competition among the banks.

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 II. INTRODUCTION

The Indian banking system has undergone significant structural transformation since the
1990s. An administered regime under state ownership until the initiation of financial sector
reforms in 1992, the sector was opened to greater competition by the entry of new private
banks and more liberal entry of foreign banks in line with the recommendations of the Report
of the Committee on the Financial System (chaired by Shri M. Narasimham):

…freedom of entry into the financial system should be liberalized and the Reserve
Bank should now permit the establishment of new banks in the private sector, provided they
conform to the minimum startup capital and other requirements and the set of prudential
norms with regard to accounting, provisioning and other aspects of operations. (Government
of India, 1991, p.72)

A second Committee on Banking Sector Reforms (also chaired by Shri M. Narasimham) was
appointed in 1998 to review the record of implementation of financial system reforms and to
look ahead and chart the reforms necessary in the years ahead. In its stocktaking of the
recommendations of the first phase of reforms, the Committee observed that:

One of the more significant measures instituted since 1991 has been the permission
for new private banks to be set up, and the more liberal approach towards foreign bank
offices being opened in India. These steps have enhanced the competitive framework for
banking — the more so as the new private and foreign banks have higher productivity levels
based on newer technology and lower levels of manning. (Government of India, 1998, Para
1.21)

During this period, ownership in public sector banks was also diversified. Along with the
flexible entry norms for private and foreign banks, this changed the competitive conditions in
the banking industry. The importance of competition was also recognized by the Reserve
Bank, when it observed that:

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Competition is sought to be fostered by permitting new private sector banks, and more liberal
entry of branches of foreign banks….Competition is sought to be fostered in rural and semi-
urban areas also by encouraging Local Area Banks. Some diversification of ownership in
select public sector banks has helped the process of autonomy and thus some response to
competitive pressures. (Reddy, 2000) and more recently: the competition induced by the new
private sector banks has clearly re-energized the Indian banking sector as a whole: new
technology is now the norm, new products are being introduced continuously, and new
business practices have become common place. (Mohan, 2004)

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 III. ABOUT THE PROJECT:

OBJECTIVE:

 Identify potential customers, which still don’t have corporate salary accounts with any
of the banks.
 Identify and analyze competitors’ products which they are offering to customers in
that area.
 Give suggestions to make changes in the existing product by doing comparative study
of HDFC Bank with competitors’.

In this globalized world with increasing competition and workforce banks are playing an
important role. Corporate are looking for banks which take care of the salaries of their
employees so that they can invest their time in other important areas. This has indeed
increased pressure on banks to come up with new innovative products to attract corporate. To
grow and prosper HDFC Bank has come up with new products like Corporate Salary
Premium Account and Corporate Salary Regular Account (the features has been described
below).

To improve its customer base so that other products like loans, de-mat accounts along with
the salary accounts can be offered to customers I was assigned five areas in an around North
Goa. The areas assigned to me were

 Panjim
 Mapusa

 Parvorim

 Ponda

 Verna

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I had to visit the companies in this area and collect relevant data related to the number of
employees, the current bank with which they deal with along with the name of the person
concerned. I have been able to visit more than 200 companies in the areas assigned to me and
collect the data regarding the bank they deal in and the number of employees working in the
organization.

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 IV. METHODOLOGY

The methodology adopted by me can be divided into two parts. The first part was the data
collecting part and the next was analyzing the data. The broad steps used by me are as
follows:-

Part I (DATA COLLECTION):

For the collection of data I first of all designed the sample (Representative of the universe).

Universe: The size of the universe was provided by the sales manager of corporate salary
account. According to him the total number of companies in north Goa was around 2200.

Sample size: The sample size of my research was 220 companies which was 10% of the
universe.

Secondary Data: First of all I collected the data which was already with my industrial
guides like name of the different places of my area, types of companies, existing customers
list etc.

Primary Data: After that I collected primary data with the help of a questionnaire
(Instrument of data collection) which I made with the help of my team leader. For collecting
the data I did the following activities:

 Visit the different areas and identify the different companies out there
 Visit the different companies and try to meet the concerned person and get the
telephone number of the person concerned.

 Meet the person personally or speak over the telephone.

 Collect data on the basis of the questionnaire.

 Organize the entire data in excel sheet according to the different areas visited.

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Part II (DATA ANALYSIS)

 Organize the data collected according to the banks preferred by companies.

 Find out the different features these banks provide.

 Compare these features with HDFC Bank.

 Find out the differences and draw conclusion why companies prefer different banks.

 Steps that can be taken to improve and attract more customers.

While doing so I had to keep in mind the time schedule for the project. I had planned a time
frame and was able to adhere to the time frame decided in the beginning of the project.

Time Frame Work Done

Collect data of different corporate along

with the number of employees and the
40 – 45 days
salary account of the employees is in which
bank

Visit the different banks and collect the

4 – 5 days features offered by them in their salary
accounts.

Analysis of the corporate on the basis of

8 – 10 days banks preferred to find out why they prefer
certain banks over others

Here I collected data of corporate for the time assigned and then in the second part I visited
different banks to collect the different features provided by them in their salary accounts so
that I could compare it with HDFC and find out the differences. Then I tried to find out what
other features the bank can offer to attract more customers.
[12]
I did the analysis on two basis:

1. Area wise analysis.

2. Sector wise analysis.

1. INDIAN BANKING SECTOR — AN OVERVIEW

Banking in India originated in the first decade of 18th century with The General Bank of
India coming into existence in 1786. This was followed by Bank of Hindustan. Both these
banks are now defunct. The oldest bank in existence in India is the State Bank of India being
established as "The Bank of Bengal" in Calcutta in June 1806. A couple of decades later,
foreign banks like Credit Lyonnais started their Calcutta operations in the 1850s. At that
point of time, Calcutta was the most active trading port, mainly due to the trade of the British
Empire, and due to which banking activity took roots there and prospered. The first fully
Indian owned bank was the Allahabad Bank, which was established in 1865.

By the 1900s, the market expanded with the establishment of banks such as Punjab National
Bank, in 1895 in Lahore and Bank of India, in 1906, in Mumbai - both of which were
founded under private ownership. The Reserve Bank of India formally took on the
responsibility of regulating the Indian banking sector from 1935. After India's independence
in 1947, the Reserve Bank was nationalized and given broader powers.

1.1 Early history

At the end of late-18th century, there were hardly any banks in India in the modern sense of
the term. At the time of the American Civil War, a void was created as the supply of cotton to
Lancashire stopped from the Americas. Some banks were opened at that time which
functioned as entities to finance industry, including speculative trades in cotton. With large
exposure to speculative ventures, most of the banks opened in India during that period could
not survive and failed. The depositors lost money and lost interest in keeping deposits with
banks. Subsequently, banking in India remained the exclusive domain of Europeans for next
several decades until the beginning of the 20th century.
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The Bank of Bengal, which later became the State Bank of India.

At the beginning of the 20th century, Indian economy was passing through a relative period
of stability. Around five decades have elapsed since the India's First war of Independence,
and the social, industrial and other infrastructure have developed. At that time there were
very small banks operated by Indians, and most of them were owned and operated by
particular communities. The banking in India was controlled and dominated by the
presidency banks, namely, the Bank of Bombay, the Bank of Bengal, and the Bank of Madras
- which later on merged to form the Imperial Bank of India, and Imperial Bank of India, upon
India's independence, was renamed the State Bank of India. There were also some exchange
banks, as also a number of Indian joint stock banks. All these banks operated in different
segments of the economy. The presidency banks were like the central banks and discharged
most of the functions of central banks. They were established under charters from the British
East India Company. The exchange banks, mostly owned by the Europeans, concentrated on
financing of foreign trade. Indian joint stock banks were generally undercapitalized and
lacked the experience and maturity to compete with the presidency banks, and the exchange
banks. There was potential for many new banks as the economy was growing. Under these
circumstances, many Indians came forward to set up banks, and many banks were set up at
that time, a number of which have survived to the present such as Bank of India and
Corporation Bank, Indian Bank, Bank of Baroda, and Canara Bank

1.2 During the Wars

The period during the First World War (1914-1918) through the end of the Second World
War (1939-1945), and two years thereafter until the independence of India were challenging
for the Indian banking. The years of the First World War were turbulent, and it took toll of
many banks which simply collapsed despite the Indian economy gaining indirect boost due to

[14]
war-related economic activities. At least 94 banks in India failed during the years 1913 to
1918 as indicated in the following table:

Number of banks Authorized capital Paid-up Capital

Years
that failed (Rs. Lakhs) (Rs. Lakhs)

1913 12 274 35

1914 42 710 109

1915 11 56 5

1916 13 231 4

1917 9 76 25

1918 7 209 1

1.3 Post-independence

India's independence marked the end of a regime of the Laissez-faire for the Indian banking.
The Government of India initiated measures to play an active role in the economic life of the
nation, and the Industrial Policy Resolution adopted by the government in 1948 envisaged a
mixed economy. This resulted into greater involvement of the state in different segments of
the economy including banking and finance. The major steps to regulate banking included:

 In 1948, the Reserve Bank of India, India's central banking authority, was
nationalized, and it became an institution owned by the Government of India.
 In 1949, the Banking Regulation Act was enacted which empowered the Reserve
Bank of India (RBI) "to regulate, control, and inspect the banks in India."

[15]
  The Banking Regulation Act also provided that no new bank or branch of an existing
bank may be opened without a license from the RBI, and no two banks could have
common directors.

However, despite these provisions, control and regulations, banks in India except the State
Bank of India, continued to be owned and operated by private persons. This changed with the
nationalization of major banks in India on 19th July, 1969.

1.4 Nationalization

By the 1960s, the Indian banking industry has become an important tool to facilitate the
development of the Indian economy. At the same time, it has emerged as a large employer,
and a debate has ensued about the possibility to nationalize the banking industry. Indira
Gandhi, the-then Prime Minister of India issued an ordinance and nationalized the 14 largest
commercial banks with effect from the midnight of July 19, 1969.

A second dose of nationalization of 6 more commercial banks followed in 1980. The stated
reason for the nationalization was to give the government more control of credit delivery.
After this, until the 1990s, the nationalized banks grew at a pace of around 4%, closer to the
average growth rate of the Indian economy.

1.5 Liberalization

In the early 1990s the then Narsimha Rao government embarked on a policy of liberalisation
and gave licenses to a small number of private banks, which came to be known as New
Generation tech-savvy banks, which included banks such as Global Trust Bank (the first of
such new generation banks to be set up) which later amalgamated with Oriental Bank of
Commerce, UTI Bank (now re-named as Axis Bank), ICICI Bank and HDFC Bank. This
move, along with the rapid growth in the economy of India, kick started the banking sector in
India, which has seen rapid growth with strong contribution from all the three sectors of
banks, namely, government banks, private banks and foreign banks.

The next stage for the Indian banking has been setup with the proposed relaxation in the
norms for Foreign Direct Investment, where all Foreign Investors in banks may be given

[16]
voting rights which could exceed the present cap of 10%, at present it has gone up to 49%
with some restrictions.

The new policy shook the Banking sector in India completely. Bankers, till this time, were
used to the 4-6-4 method (Borrow at 4%; Lend at 6%; Go home at 4) of functioning. The new
wave ushered in a modern outlook and tech-savvy methods of working for traditional banks.
All this led to the retail boom in India. People not just demanded more from their banks but
also received more.

1.6 Current situation

Currently banking in India is generally fairly mature in terms of supply, product range and
reach-even though reach in rural India still remains a challenge for the private sector and
foreign banks. In terms of quality of assets and capital adequacy, Indian banks are considered
to have clean, strong and transparent balance sheets relative to other banks in comparable
economies in its region. The Reserve Bank of India is an autonomous body, with minimal
pressure from the government. The stated policy of the Bank on the Indian Rupee is to
manage volatility but without any fixed exchange rate-and this has mostly been true.

With the growth in the Indian economy expected to be strong for quite some time-especially
in its services sector-the demand for banking services, especially retail banking, mortgages
and investment services are expected to be strong. One may also expect M&A s, takeovers,
and asset sales.

In March 2006, the Reserve Bank of India allowed Warburg Pincus to increase its stake in
Kotak Mahindra Bank (a private sector bank) to 10%. This is the first time an investor has
been allowed to hold more than 5% in a private sector bank since the RBI announced norms
in 2005 that any stake exceeding 5% in the private sector banks would need to be vetted by
them.

Currently, India has 88 scheduled commercial banks (SCBs) - 28 public sector banks (that is
with the Government of India holding a stake), 29 private banks (these do not have
government stake; they may be publicly listed and traded on stock exchanges) and 31 foreign
banks. They have a combined network of over 53,000 branches and 17,000 ATMs.
According to a report by ICRA Limited, a rating agency, the public sector banks hold over 75
[17]
percent of total assets of the banking industry, with the private and foreign banks holding
18.2% and 6.5% respectively.

[18]
2. HDFC BANK

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2.1 History

HDFC Bank was incorporated in August 1994 in the name of 'HDFC Bank Limited', with its
registered office in Mumbai, India. The Bank commenced operations as a Scheduled
Commercial Bank in January 1995.

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 liberalization of the Indian Banking Industry in 1994.

Headquartered in Mumbai, HDFC Bank, has a network of over 531 branches spread over 228
cities across India. All branches are linked on an online real-time basis. Customers in over
120 locations are serviced through Telephone Banking. The Bank also has a network of about
over 1054 networked ATMs across these cities. 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.

HDFC Bank has won many awards for its excellent service. Major among them are "Best
Bank in India" by Hong Kong-based Finance Asia magazine in 2005 and "Company of the
Year" Award for Corporate Excellence 2004-05

2.2 Mission
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.

2.3 Businesses

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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:

2.3. A Wholesale Banking Services

The Bank's target market ranges from large, blue-chip manufacturing companies in the Indian
corporate to small & mid-sized corporate 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 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 corporate including multinationals,
companies from the domestic business houses and prime public sector companies. It is
recognized as a leading provider of cash management and transactional banking solutions to
corporate customers, mutual funds, stock exchange members and banks.

2.3. B 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 the 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.

[21]
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 September 30, 2005, the bank had a total
card base (debit and credit cards) of 5.2 million cards. The Bank is also one of the leading
players in the "merchant acquiring" business with over 50,000 Point-of-sale (POS) terminals
for debit / credit cards acceptance at merchant establishments.

2.3. C 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
liberalization of the financial markets in India, corporate 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.

2.4 Distribution Network:

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HDFC Bank is headquartered in Mumbai. The Bank at present has an enviable network of
over 744 branches spread over 339 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 centres 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
centres where the NSE/BSE has a strong and active member base.

The Bank also has a network of about over 1658 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.

3. CORPORATE SALARY ACCOUNT:

3.1 HDFC Bank

3.1. An Overview

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When we open a HDFC Bank Corporate Salary Account we give our employees more than
just an account. They get a host of e-Age Banking facilities such as Free Net Banking, Phone
Banking, Mobile Banking, International Debit Card (valid in 140 countries) and Bill Pay.
This also includes free demand drafts and preferential interest rates on personal loans.

3.1. B PRODUCTS
3.1. B. i Corporate Salary Premium Account (Rs. 25,000 and above)

1. Rationale
 The major focus today for the salary segment is enhancing relationship and
preventing attrition in the existing base.
 The number of products exceptions done for higher end corporate is increasing by
the day and the same is difficult to monitor, implement and keep track.
 We need to differentiate clearly between our lower/mid category corporate and the
higher end corporate.

2. Target Segment
The following are the segments to which this product would specifically cater:
 Pharmaceutical
 Tourism
 Hotel Industry
 Real Estate
 Manufacturing
 Logistics
 Entertainment
The rationale used for arriving at the above segment is as follows:
 The workforce in these segments would most be of Managerial level and over.
 All the above jobs require a certain level of high education.
 There is permanency of jobs in these segments.

3. Eligibility

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  This product will be offered to only those corporate, which have an average salary
of Rs. 25,000.
 Minimum number of employees should be at least 15

4. Features and Benefits

The special additional features that will be offered to those corporate apart from all the
facilities & special features to our regulars salary corporate (Product 105) will be as follows:

 10 transactions per month on all domestic VISA/Cirrus network ATMs.

 Free Personal Insurance Accident Cover up to Rs 2 lacs on the Debit Card its
mandatory to use the Debit Card at the Point of Sale to activate the Insurance
Cover.
 Withdrawal limits of Rs 25,000 at ATM and Rs 50,000 at POS.
 Free Debit card for all applicants for Life, free add on debit card for life.
 Free Demat Account for the first year.
 OD facility to eligible corporate.
 Free Bill Pay and insta Alerts facility.
 Free installation of E-net facility for upload of salary accounts.
 Free Payable at Par cheque by default.
 Free monthly account statements.
 Free monthly email statements (optional).
 Loans at preferential rates.
 Silver and Gold Credit Cards at preferential rates.
 Free Passbook facility available at home branch for account holders (individual).
 Free DDs up to Rs 25,000 per instrument payable at HDFC Bank branch
locations.
 Investment and advisory services.
 Free Passbook facility available at home branch for account holders (individual).
 Third party cash transactions through teller counters
 Home branches – Free
 Non Home branches – Up to a limit of 10,000 per day – Rs 100, above Rs
10,000 – Not allowed.
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 5. Account Opening Procedure and Operations

 Documents to be collected as valid photo id and address proof

 Account opening process – Gyaanline – Products – Corporate Salary – Account
Opening Process.

3.1. B.ii Corporate Salary Regular Account

1. Rationale
A set of benefits offered for bulk acquisition of accounts of executives working in large
and mid-size corporate. Since the companies will be screened, the accounts will be of
assured quality. There is also a high probability of procurement of the main account of the
company from where the funds are transferred.

2. Eligibility

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  This product will be offered to only those corporate, which have average salary of
Rs. 7,500 plus in Metro and Non Metro and Rs. 5000/ plus in Semi Urban
Locations.
 Minimum number of employees should be at least 15.

3. Features and Benefits

 Interest rates as applicable to the savings account
 Zero balance account
 Free Quarterly Account Statements
 Free Monthly email statements (Optional)
 Free Payable at Par Chequebook by default
 Free International Debit Card
 Free Phone Banking
 Free Mobile Commerce
 Free Net Banking
 Free Insta Alerts
 Bill Pay at Rs. 25/- (Plus taxes), per quarter per cust id
 Free Sweep In facility
 Full function Branch Services
 Free Inter-city/branch banking
 Safe deposit lockers

3.2 ICICI BANK

Advantage - Employees

The employees automatically become ICICI Bank Salary Account holders with special
benefits and privileges and receive instant salary credit. The benefits include International
debit card, corporate card with Individual Liability (CCIL), access to Phone Banking and
Internet Banking, Demat accounts, and a host of other services to complement their savings
account. Here are some of the features of ICICI Bank Salary Account: -  

BANKING
[27]
 Welcome-Kit

ICICI Bank Salary Account customers fill up a form and getting their cheque books
and debit cards immediately.

 Money Multiplier  

The Money Multiplier feature gives the liquidity of a Savings Account coupled with
high earnings of a Fixed Deposit. This is achieved by creating a Fixed Deposit linked
to your Savings Account.

 Debit Card

We offer an International “N-Cash” Debit card to our Salary Account customers to

provide them access to our extensive ATM network. The card also allows them to
shop at over 11,000 merchant establishments.

• Free Internet Banking

 Online Funds Transfer

We give the employees the facility to transfer funds online from any part of the world.

 Mobile Banking

 Phone Banking

 Free Utility Bill Payments

The employees can pay utility bills like electricity; phone bills etc. using ICICI Bank
Internet Banking.

 Reimbursement Account

If the employee opts to disburse/reimburse the travel, food etc. expenses via
reimbursement accounts, a reimbursement account can be opened simultaneously
[28]
 along with the Salary Account savings bank account, which would be linked together
with the debit card already held by your employee.

 Free Remittance Facilities

Salary Account customers can avail of free remittance (demand drafts, cheques, pay
orders) up to Rs.25, 000 on ICICI Bank network.

 Cash Delivery and Cheque Pick-up Facility

 Bureau de change

The employees can meet all their foreign currency needs, buy internationally valid
travelers cheques issued by Thomas Cook, American Express, VISA and avail of a
host of other travel related services.

CARDS & LOANS

 CCIL - Silver Card

Salary Account holders have the privilege of receiving the ICICI Bank Silver credit
card (Corporate Card with Independent Liability), free for the first year (available
subject to employees satisfying the eligibility criteria).

 Personal Loans
 Home Loans

 Car Loans

 Two Wheeler Loans

[29]
  Loans Against Securities

INVESTMENT SERVICES

 Demat Services
 Relief Bonds/ Mutual Funds/ Insurance

Salary Account customers can invest in Government of India relief and savings
bonds, a basket of mutual funds, foreign exchange facilities and Insurance products
through ICICI Bank.

 Gold Coin

Employees can buy 24 karats Pure Gold, which ICICI Bank brings to them. Each coin
comes straight from Switzerland. Refined to 99.99% fine gold and sealed with a
unique Certificate of Authenticity- guaranteeing you its purity.

3.3 AXIS BANK

Salary Power

Salary Savings Account from Axis Bank has been tailored not only to be a convenient way to
manage salaries (across various centers, through our centralized database), but also provide
employees with a range of value added benefits.

Salary Savings Account comes with a host of facilities that give the employees access to a
complete gamut of banking services (including overdrafts, loans and zero-
balance requirements) on a preferential basis.

Salary Power : Features

 Balance Requirement

[30]
 Zero balance account.

 Anywhere Banking.

 International Debit cum ATM Card

Personal Accident Insurance cover of up to Rs 2 lacs per cardholder. Cash

withdrawal of up to Rs 25,000 daily. Purchase protection and Zero Card Liability.

 Joint Account Facility

 Flexi (2-in-1) Encash Deposits

 Demand Drafts

Free Demand Drafts drawn on Axis Bank Branches.

 Overdraft Facility :

Up to 50% of net salary at Personal Loan rates.

 Outstation Cheques

Free collection, only out-of-pocket expenses to be recovered.

 Demat Account

 Financial Advisory Services

 Optional Gold Debit Card

 Credit Cards

 Online Trading

 Built-In Insurance (Medical and Burglary) scheme

[31]
 Unique facility of availing Insurance option in built in the account available.

 Built-in SIP scheme

Unique facility of availing SIP option in built in the account available.

 Priority Banking

Reduced balance criteria for availing Priority Banking that entitles you to exclusive
banking and lifestyle privileges.

 Internet Banking

Available as iConnect with enhanced features like free bill payments (eg, electricity
bills) and electronic payment of premiums (LIC - Insurance Premium) at select
centers.

 Telebanking

 Mobile Banking

 Nomination Facility

 Funds Transfer

Transfer funds from Salary Power account to any bank account in India free of
charge.

 Meal Card

The best substitute for the traditional Sodexho/Accor Meal coupons/vouchers.

 Gift Card

Prepaid, Rupee Denominated, Non Reloadable card - Ideal for Gifting.

[32]
 3.4 STATE BANK OF INDIA

Corporate Salary Account

Benefits to Employees

 Employees will enjoy convenience of Anywhere Banking at the largest network of

Core Banking Branches presently numbering 9400 plus across the country.
 Extensive alternative channels. 8400 plus ATMs of State Bank Group Free Internet
Banking.

 Complete gamut of Banking Services including

a. Auto sweep facility

b. Core Power

c. Loans at attractive rates on preferential basis

d. Range of other value added benefits

[33]
 e. Multicity cheques

f. Easy overdraft up to 2 months salary

g. Utility Bills Payment

h. Statement of Account

i. ATM cum Debit Card

3.5 INDUSIND BANK

 Corporate Salary Account

For corporate

Indus Comfort accounts offer many conveniences. Employees can avail the comfort of all the
facilities of a savings account, preferential pricing on loans, salary advance and overdraft
facility. All these come at no extra cost and at no minimum balance.

 Zero balance account

 Salary Advance facility

The employees can avail of loan equivalent to one month net salary and repayment in
3 EMI's. Payment at the rate of interest @PLR+3%

 Salary Overdraft facility

[34]
 The employees can avail of overdraft equivalent to one month net salary. Repayment
in 12 EMI's and rate of interest @PLR+4%

 Preferential Pricing on other products

The employees can avail of preferential pricing on our loan schemes. IndusInd Bank
Ltd. also offers Car loans, Personal Loans, Home Loans and Credit Cards.

 Joint Account facility

 24 hr ATM facilities

 Bank by phone service

Should the employees wish to bank on the telephone, they can ask for bank drafts,
Open fixed deposits, Transfer funds within their accounts or check their balance,
order new cheque books, etc. they just need to call our Phone Banking Officers, and
they shall be at your service.

 Mailbox Service

The employees can use the mailboxes, situated at 180 convenient locations across the
city. All they have to do is drop their cheques, documents and instructions and they'll
be cleared within the day.

 Mobile Banking
 Demat Account

 Internet Banking

 Free courier pickups of cheques

 Cheque Protection Facility

By authorizing us to 'sweep' funds from the fixed deposits or another account in case
the balances are inadequate, the cheques will be protected for clearing.

[35]
  Cash Delivery

Free Cash Delivery for up to Rs.25000/- at your office address.

 Nationwide Clearing 
 Multi City Banking

 Multi-City Cheques

 Flexi Fixed deposits

 Fixed Deposits

The fixed deposits were never more accessible, or more liquid. Placed in units of Rs
1,000 each, you can Encash a part of your deposit without affecting the interest on the
rest.

3.6 IDBI BANK

Corporate Salary Account

Benefits to Employer

We provide complete freedom from cash disbursement and account reconciliations. Apart

from disbursing the salaries, our payroll account provides with world-class service and loads
of benefits. 

 Reimbursement Account

Zero balance Savings Account can be opened for all employees to root their
reimbursements like travel expenses.
[36]
  Salary Cheque Pickup

We can arrange for salary cheque pickups from a specified location every month.

 IDBI Gift Card

We have a fantastic gift card which can remove the hassle of making cash payments
at times of bonus payments

 Tax Filing for All the Employees Once A Year

 Tax Collection facility

 Pension disbursement

 Online salary disbursements

Benefits to Employees

Through the Corporate Payroll Account, salaries are credited to the employee's accounts
electronically anywhere in India. Apart from this direct credit facility, the employees will be
eligible for all the benefits and facilities that come along with our savings accounts. All this
come with no minimum balance requirement.

 Convenience / Easy Banking

We deliver convenience banking, which includes completing all documentation work

at the doorstep and that we shall provide all deliverables immediately.

 Reimbursement Account:

We can also open a separate reimbursement account, which would be a savings

account linked to the main debit card.

 International Debit cum ATM card

 Utility bill payments

 Online tax payments

[37]
  Online railway ticket booking

 Phone Banking

 SMS Banking

 Internet Banking

 Electronic Funds Transfer:

Funds can be transferred from the account to any other account in other banks in 15
locations. The funds are transferred within 3 days.

 Investment Advisory Services

3.7 UNION BANK OF INDIA

Union Super Salary Account (USSA)

USSA is a unique product packaged to suit the salaried class with salient features as under:

 Minimum Criteria:

[38]
 Employees of any Corporate, Institution, Business Organization, Govt. Dept., etc.
with employee strength of minimum 15 and minimum net monthly salary
disbursement not less than Rs.1.50 lacs, can open a salary account.

 Welcome Kit:

Comprehensive Welcome Kit, containing International Debit Card, Internet Banking

(Union e-Banking) PIN, Phone Banking (Union Dial) PIN and Multicity Cheque
Book, is provided to holder at the time of opening.

 ATM Banking
 Net Banking

 Phone Banking

 Overdraft Facility:

USSA holder can apply for an overdraft facility to the extent of 90% of the net salary
credited in the previous month, which will be considered at the discretion of the Bank.

 Financial Services:

USSA Opens doors for a wide range of additional financial services, such as Retail
Loans (Home, Vehicle, Comfort), Insurance (life/non-life), Mutual Funds, Demat,
Online Trading etc., subject to usual terms.

4. COMPARATIVE SWOT ANALYSIS

4.1 SWOT OF CORPORATE SALARY ACCOUNTS

COMPETITORS (This holds true for all major competitors)

[39]
 STRENGTHS WEAKNESSES OPPORTUNITIES THREATS

Well established & Undifferentiated products Same as mentioned Entry by foreign &
recognized for their Advertisements later in this section for private banks into
Corporate Salary Accounts this business
HDFC
Small global network

STRENGTHS

 Well Established and Recognized

Most competing banks have been in the business of providing corporate salary
accounts since a few years now. Over this period they have build ‘mass’ recognition.

 Global network
Other banks with their global network offer unmatched advantages to the companies.
The customer can open a salary account with other banks and can transact with the
bank globally at convenient locations.

WEAKNESSES

 Undifferentiated Product
Most banks are offering similar features in their corporate salary account products.

 Advertisements

[40]
 There are very few banks that are promoting their corporate salary accounts compared
to HDFC Bank. There are very few advertisements coming out of other banks.

OPPORTUNITIES

It is the same as that of HDFC. Please refer to the next section.

THREATS

 Entry of new players

Since entry barriers to this business are low for a bank, the greatest threat is foreign
banks, which can provide better services.

4.2 HDFC BANK

STRENGTHS WEAKNESSES OPPORTUNITIES THREATS

Strong Reputation Advertisements First mover Existence of well

Indian Bank Small Global network advantage established players
Promotion of product New to market Entry of new
players
[41]
STRENGTHS

 Strong reputation
Companies will not be able to ignore corporate salary account from HDFC. If they
were well communicated that HDFC is offering corporate salary account, they would
at least definitely consider it.

 Indian Bank
HDFC bank is an Indian bank and Indian companies normally prefer to work with an
Indian Bank. Also, HDFC provides better service than other PSU banks in India. So,
it has advantage over other Indian and Foreign banks.

 Promotion of product
HDFC has been its product on a much larger scale as compared to other banks. They
have two different products for two completely different segments base on the
average salary and number of employees of the company, while most of the other
banks are offering same product to all the segments.

WEAKNESSES

 Small Global Network

Most banks have a global network and HDFC does not have a strong global presence.

OPPORTUNITIES

 First mover advantage

[42]
 There are lots new companies are coming into the market and there are lots of small
companies which don’t have corporate salary accounts with any of the banks. HDFC
bank can capitalize this being the first one to offer them their products.

THREATS
 Existence of well established players
(Self explanatory)

 Entry of new players (Low Entry Barrier)

New players could copy HDFC’s product and introduce their own variations in the
market. As already mentioned, the Barriers to Entry are low.

5. ANALYSIS & INTERPRETATION

5.1 Area Wise analysis:

5.1. A Mapusa Area

[43]
 Bank Company
AXIS 2
HDFC 4
SBI 3
NE 9
Total 18

MAPUSA AREA

11%

22% AXIS
HDFC
SBI
50%
NE

17%

 Interpretation: As per the survey conducted by me in Mapusa area one thing was
very clear that the area consists of very small profile corporates or rather we can say
that either they were not having enough employee numbers to meet our condition or
they were paying through cash or cheque and that can be easily seen by the
percentage of NE in the above diagram. The share of HDFC in rest of the companies
is highest.

5.2. B Porvorim Area

BANK COMPANIES
AXIS 2
BOI 2
CASH 2
HDFC 4
NE 6
[44]
 Total 16

PARVORIM AREA

13%

AXIS
37% 13%
BOI
CASH
HDFC
13%
NE

24%

 Interpretation: As far as Parvorim is concerned it gives a mixed view about the

corporate account scenario as 37% area is unapproachable but still 13% are with in
the reach of the banks and here HDFC has a chance of providing better service and
grab the share of other two players.

5.3. C Panjim Area:

BANK COMPANIES
ANDHRA BANK 1
AXIS 10
BOI 7
CANARA BANK 1
CASH 10
CORPORATION
BANK 4
HDFC 35
ICICI 17
IDBI 2
[45]
 ORIENTAL BANK 1
Overseas Bank 1
SBI 2
Sindicate bank 1
STD.CHART. 1
Union Bank 1
NE 29
TOTAL 123
ANDHRA BANK
PANJIM AREA
AXIS
BOI
1% 8% CANARA BANK
CASH
22% 6%
1% CORPORATION BANK
9% HDFC
ICICI
1%
1%
1%
2% 3% IDBI
1%
1%
2% ORIENTAL BANK
Overseas Bank
14% SBI
27% Sindicate bank
STD.CHART.
Union Bank
NE

 Interpretation: This is one of the most developed part of GOA as it is the capital of
state and every facility is available at this place. It consists of around one thousand
companies with good salary upload. All the banks working in GOA has one or two
branches here and the competition is very stiff .All banks are trying to out focus other
bank by providing better facilites.But still HDFC has a good hold in this part also.

5.4. D Verna Area:

BANK COMPANIES
AXIS
BANK 2
BOB 1
BOI 2
Canara 1
CASH 4
HDFC 20
icici 7
IDBI 1
Indusind 1
IOB 1
SBI 5

[46]
 NE 18
TOTAL 63

VERNA AREA

AXIS BANK
3%2%
3% BOB
2%
6% BOI
28% Canara
CASH
HDFC
icici
IDBI
Indusind
8% 31%
IOB
2% SBI
2%
2% NE
11%

 Interpretation: Verna is the industrial hub in GOA and each and every bank is
targeting that part very well but HDFC has done very well in this area as it holds
around 31% of companies in the area then the best figure is of NE but there is still 6%
companies paying in cash and some banks facilities are not up to the mark so
opportunity still lies there.

5.5. E NORTH GOA:

BANK COMPANIES
ANDHRA BANK 1
AXIS BANK 16
BOB 1
BOI 11
CANARA BANK 2
CASH 16
CORPORATION BANK 4
HDFC 63
ICICI 24
IDBI 3
Indusind 1
IOB 2
ORIENTAL BANK 1
SBI 10
[47]
 Sindicate bank 1
STD.CHART. 1
Union Bank 1
NE 62
TOTAL 220
ANDHRA BANK
GOA AXIS BANK
BOB
BOI
CANARA BANK
0% 7% CASH
0%
5% CORPORATION BANK
28% 1%
HDFC
7%
ICICI
2% IDBI
Indusind
0%
0%
0% IOB
5%
0% ORIENTAL BANK
1%
0%
1% 29% SBI
11% Sindicate bank
STD.CHART.
Union Bank
NE

 Interpretation: When we talk about the entire GOA then one thing is clear that
HDFC bank has done a great work in regards to the corporate salary accounts with
almost 30% and next bank to follow is icici with just 11%.But the major aspect of the
research and survey is that GOA consists of corporates and companies which are
small in size and they are NE for the purpose of banks around 28% company falls in
that category. But still the opportunity lies with the companies paying in cash that is
somewhat around 7% and companies which are not satisfied with the services of the
other banks.

[48]
5.2 Sector Wise Analysis:

5.2. A Tourism:

BANK COMPANIES
AXIS BANK 3
CASH 3
CORP. BANK 1
HDFC 10
ICICI 2
SBI 4
STD.CHART. 1
NE 13
TOTAL 17

[49]
 TOURISM SECTOR

8%
AXIS BANK
8%
CASH
35% 3%
CORPORATION BANK
HDFC
ICICI
27% SBI
3% STD.CHART.
11% NE
5%

 Interpretation: Tourism is the most developed and still further developing sector in
GOA and lot of revenue is generated from this particular sector. HDFC has a nice grip
on the companies working in this sector as 27% companies have the salary account of
the bank. But still the major thing is that 35% companies are not qualified for the
accounts and also about 8% companies paying in cash. Here we can see that
opportunity lies in the companies that will function in the season time and those
paying in cash. Providing special services in this sector could do miracles for any
company as service centric industry always appreciate the one who provides better
and quick

5.2. B Manufacturing:

BANK COMPANIES
AXIS 2
BOB 1
BOI 4
CASH 6
HDFC 16
ICICI 10
Indusind 1
Union Bank 1
SBI 4
NE 12
TOTAL 57

[50]
 MANUFACTURING SECTOR

AXIS
4%2%
7% BOB
20%
BOI
11% CASH
HDFC
7%
ICICI
2%
2% Indusind
27% Union Bank
18%
SBI
NE

 Interpretation: In this field the competition is more over between HDFC and ICICI
is there and a bigger chunk is again with NE and cash payment done is also 11% of all
companies working in this field. But here the scope lies with the new emerging
companies and smaller companies growing in size and number of employees

5.2. C Logistics:

BANK COMPANIES
AXIS BANK 1
BOI 2
CANARA
BANK 1
HDFC 5
ICICI 3
IDBI 1
NE 6
TOTAL 19

[51]
 LOGISTICS SECTOR

5%
11% AXIS BANK
32%
5% BOI
CANARA BANK
HDFC
ICICI
IDBI
5% 26%
NE
16%

Interpretation: Here in this sector companies are there in large number but they are either
controlled by any metro or sub metro state headquarter or they are really small in size to
fulfill the requirement of the banks. Here more or less every bank is at the same level and the
aspect of growth is also very low in this field as they are easily managing their work with the
help of lesser workers.Once again in logistics sector HDFC bank is ahead of any other bank,
But here its main competitor ICICI bank is not much behind, so particularly in logistics sector
HDFC bank has to be very careful.

5.2. D Pharmaceutical:

BANK COMPANIES
AXIS
BANK 2
HDFC 5
ICICI 1
IOB 1
NE 3
TOTAL 12

[52]
 PHARMACEUTICAL SECTOR

17%
25%
AXIS BANK
HDFC
ICICI
IOB
8%
NE
8% 42%

Interpretation: Here there is no need of the explanation as it is clearly shown that 42%
companies are with HDFC bank only and here its competitor is axis bank. As the companies
for pharma are really big in size no one pays in cash and the banks if like to increase their
business in this area then they have to look for new huge setups but still a smaller part is not
eligible. Banks receive a lot of revenue from this sector as lots and lots of pharma companies
are setup in GOA due to various reasons.

5.2. E Real Estate:

BANK COMPANIES
ANDHRA BANK 1
AXIS BANK 3
CASH 1
CORP. BANK 2
HDFC 2
ICICI 2
ORIENTAL BANK 1
NE 8
TOTAL 20

[53]
 REAL ESTATE SECTOR

5% ANDHRA BANK
15% AXIS BANK
CASH
40%
CORPORATION BANK
5%
HDFC
ICICI
10%
ORIENTAL BANK
NE
10%
5%
10%

Interpretation: Real Estate is a big sector in GOA as Indians as well as the foreigners/NRI’s
are interested in land/building/house purchase at beautiful and professionally sound places
but the problem is that the companies working are really small in size and does not have
much of the employees, so they don’t provide much business to the banks but if we go
according to the data collected by me it would be AXIS bank who is leading in this sector and
at the same time ICICI and CORP. bank is having same share as HDFC.

6. RESULT

When I compare the different features provided by different banks, it can be seen that there is
hardly any difference between them. Therefore, companies choose the banks on the basis of
perception that they have about them and it also depends on which bank approaches them
first. So, one has to constantly visit the areas to find new customers.

Apart of this the results on the basis of Area and sectorial analysis are as follows

 According to data collected, ICICI Bank is the closest competitor of HDFC Bank
followed by Axis Bank and SBI. There is also presence of other banks like Bank of
[54]
 Maharashtra, Bank of India, and Indian overseas bank, etc. So, HDFC should always
keep check on the new products these banks are coming up with.
 The companies are dealing with more private banks than public sector bank. This
shows that the service is an important deciding factor for the companies.
 In the areas where there are small scale industries public sector and co-operative
banks are more dominant but in the areas where there are more IT companies private
sector banks are more dominant.

6.1 KEY FINDINGS

 One of the main criteria of companies to choose a particular bank is the perception
about that bank and reputation of that bank in the market.
 Sales force of HDFC bank is found to be very active. As, most of the companies
that I visited told that a sales executive has already come to them in last 10-15
days.
 Companies are not willing to change their banks very easily. They believe in long
term relations especially when it comes to banks. So, customer loyalty is quite
high in this segment.

[55]
  Workers of small scale industries have taken loans with their respective local
banks and they deposit their salary cheque with that bank only, so that their
installment is automatically deducted by the bank.
 Many small scale industries also don’t prefer opening corporate salary accounts as
they deal in cash and their employee strength is quite low (8-10).
 Many companies have average salary level less than 7,500 which is a criterion for
opening salary accounts with HDFC Bank.

7. RECOMMENDATIONS

 A new product should be introduced for the companies where average salary level is
below 5000.
 Customer relationship executives of HDFC bank should constantly stay in touch with
companies, so that whenever new employees join them their accounts can be opened
immediately.
 Slabs should be introduce in the existing products i.e. as the number of employees
increases the average salary level can be lowered.
 Different strategies for different kind of companies and it should be according to the
comfort of the employees working.

[56]
 To capture market in Goa need to compete with its major competitors like icici and
axis bank by providing lesser paper work and maintaining all records on computerized
systems.
 After selection of sales force entire product knowledge and process need to be done to
open an account or to generate a code should be told before going to the field.
 Do all the processes regarding account generation should be done without any hassle
to the company owner and the workers and also the production.
 Keeping a regular follow up on the potential leads generated by the sales force.
 Handling the sales force efficiently and with proper supervision could really help the
sales to rise.

8. LIMITATIONS

 It was not possible to cover all the companies in the areas alloted because of the time

limit and large number of companies in the area.

 Reluctance on part of the companies to disclose information regarding their

employees and the current banker.

 There is no source to authenticate the data provided by the companies.

[57]
  Distance between two companies in a particular area like verna is too much and

without much availability of proper transport it was in possible to move into many

companies.

9. ANNEXURE

Dear Sir/Madam, I am a student of Sinhgad Institute of Management &

Computer Application (Pune University). I am doing a survey to understand the
competition between different bank’s offerings in corporate salary account. It’s
been very kind to you if you will please give some time to provide me following
data. Thank You!

Sr. Name Of The Ph.No. Location Bank Employees Sector Remarks

[58]
No. Company

10. BIBLIOGRAPHY

 www.hdfcbank.com
 www.Wikipedia.org

 www.icicibank.com

 www.axisbank.com

 www.indusind.com

 www.unionbankofindia.com
[59]
 www.statebankofindia.com

 www.idbi.com

[60]