A Project Study Report On Training Undertaken At

TITLED

Submitted in partial fulfillment for the Award of Degree of Master Of Business Administration
SUBMITTED BY: Govind Prasad garg MBA (II)
[2007 2009]
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SUBMITTED TO: Mr. Ajay pandey

GAYN VIHAR INTERNATIONAL SCHOOL OF BUSINESS MANAGEMENT JAGTPURA, JAIPUR

PREFACE
Practical training is one of the major component for any professional course like M.B.A. the real place where a professional person faces a problem in a field. It was a good exposure for me to undergo training in a highly esteemed and multi corporate company like Standard Chartered where I got to enhanced my knowledge and experience with respect to COMPARATIVE ANALYSIS OF FINANCIAL PRODUCTS AND SERVICES OF STANDARD CHARTERED BANK. I was able to get familiarized with the corporate environment, team support and management operations in working out the operations of efficiency successfully for the achievement of the end objectives of the organization as a whole. As rightly Quote by Pt. JAWAHAR LAL NEHRU ji: It is good to have enthusiasm but it is essential to have training. Training can be in all way of life. Thus I would say that this training was beneficial educative & good exposure to me, which will certainly help in my near future.

ACKNOWLEGDEMENT
I express my sincere thanks to my project guide Mr. Ajay pandey, for guiding me right from the inception till the successful completion of the project. I sincerely acknowledge them for extending their valuable guidance, support for literature, critical reviews of project and the report and above all the moral support they had provided tno me with all stages of this project.

GOVIND PRASAD GARG MBA Part II

DECLARATION
I Govind Prasad garg s/o Mr. Mahaveer Prasad garg . i declare that the project report titled Analysis of Life Insurance with respect to other financial services is based on my project study. This project report is my original work and this has not been used for any purpose anywhere.

Govind Prasad garg MBA Part II

CERTIFICATE FROM COLLEGE

To whom so ever it may concern

This is to certify that Govind Prasad garg has prepared this project report titled Analysis of Life Insurance with respect to other financial services based on this project study. This project report is his original work and it is submitted for the fulfillment of the MBA Degree.
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Wish him good success for his future career.

Ajay Pandey (Project Guide)

EXECUTIVE SUMMARY
Standard Chartered Bank having an history of over 150 years in the banking sector has become one of the worlds fastest growing bank. In India, Standard Chartered started its operations by opening a branch at Kolkata in 1858 and has completed 150 years of its existence as a company in 2003. Standard Chartered offers various financial products and services to its customers to invest their savings viz. savings account, current account, fixed deposits, mutual funds and insurance plans in tie up with Bajaj Allianz. 1

The project is related to comparison of financial products and services of Standard Chartered Bank with other multinational banks and private sector banks existing in India. A secondary as well as primary research was conducted. Questionnaires were designed and were filled by the customers having their relation in the banks studied taking the sample size as 100. From the research conducted it was concluded that though Standard Chartered has grown tremendously in India, it still has a long way to go. The customers are satisfied with the banks savings account but when other products are concerned like current account, term deposits customers are not much satisfied with the benefits provided. Even under savings account, average quarterly balance of 10,000 is to be maintained which is not affordable by all. So, the customers of Standard Chartered are basically the rich class people. Moreover, people are very much dissatisfied with the Banks credit card and most of them are planning to discontinue the product. Standard Chartered should target the middle income group. It should focus on brand building by expanding market. Standard Chartered has restricted its operations in metros so it should make its stand in non- metros as well. It should improve its services and check its loopholes to satisfy its customers fully.

Table of Content

Chapter No

Particulars Preface Acknowledgement Executive Summary Introduction Introduction Rationale Objectives Methodology Industry & Company Introduction Industry Introduction Company Introduction Achievement for SCB Products & Services Saving Account Current Account Insurance Plans Credit Cards Services Financial Statement Finance Report Research Methodology Research Objectives Process of Research Methodology Tools and Techniques used for data collection Data Analysis & Interpretation Comparative analysis between SCB and Other Multinational Banks Comparative Analysis between SCB and Private Sector Bank Analysis of Primary data
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Page No ii iii vi 10-11 11 11 12 14-16 17-26 27-28 20-35 36-39 40-45 46-48 49-59 61-63 65 65 65-66 67 70-74 75-79 81-103

1 1.1 1.2 1.3 1.4 2 2.1 2.2 2.3 3.1 3.2 3.3 3.4 3.5 4.1 5.1 5.2 5.3 5.4 6.1 6.2 6.3

4 5

7 8 9 10 11 12

SWOT Analysis Findings Recommendations Conclusion Questionnaire Bibliography

105-107 109-114 116-118 118-120 124-127 129

1.1 INTRODUCTION
Saving generally means putting money aside for example by putting money in the bank or investing in a position. Saving in a broader sense refers to economizing, cutting costs or to rescuing someone or something. In terms of personal finance it refers to preserving money for future use, typically by putting into deposit. In banking terms, saving can be in the form of opening a savings account or a current account, investing in fixed deposits or mutual funds or by covering risk through insurance. Savings account are the accounts that let customers set a side a portion of their liquid asset while earning a monetary benefit. Saving accounts are offered by commercial bank, saving and loan associations, credit unions, building societies and mutual savings banks. Current account is the feature packed checking account for the business/ commercial segment of users. Customers have the benefit of high monthly transaction at no additional cost. Cheque book facility is available under this account. Routine payments can be made by the customers by giving standing

instructions to the bank. Nomination and power of attorney facility is also available. A fixed deposit is meant for those investors who want to deposit a lumpsum of money for a fixed period. Fixed deposit can be made for a minimum period of 15 days to 5 yrs and above which gives higher rate of interest in return. Insurance in Law and Economics, is a form of risk management primarily used to hedge against risk of contingent loss. It is defined as the equitable transfer of the risk of a loss, from one entity to another in exchange for a premium. Mutual fund is a professionally managed firm of collective investments that collects money from many investors and puts it in stocks, bonds, short term money market instruments and/ or other securities. Currently the worldwide value of all mutual funds totals more than $26 trillion.

1.2 RATIONALE
The basic aim behind preparing the report is to know where financial products and services of Standard Chartered Bank stand in the Indian market. Who are the major competitors of Standard Chartered bank including both multinational bank and private sector bank. Are the customers of Standard Chartered satisfied with the products and services offered by the bank. The study also aimed at knowing that if the bank is able to give what it promises and if it is successful in the Indian market or not.

1.3 OBJECTIVES

To analyze the various financial products and services offered by various multinational banks And then, on the basis of the products and services offered, compare the performance of these banks with Standard Chartered Bank. Thus by comparing the performance of the various banks I have to devise strategies to increase the business for Standard Chartered Bank and discover the potential market segment which may help Standard Chartered Bank to stay ahead in the competition.

1.4 METHODOLOGY
Since it is basically a market research project along with some marketing and selling of financial products, various market research methods were used to accomplish its goals. I conducted a market survey to know about the various players and their performance in the industry taking into consideration the various products and the product related services provided by them. The stepwise methodology that was used is: 1. Sampling: Population that was taken as a sample included customers of some multinational banks like Standard Chartered Bank, ABN-AMRO, HSBC, Citibank and some new private sector banks like ICICI Bank, HDFC and IDBI. 1

2. Secondary research 3. Survey research was done through Personal Interviews Interactions with consumers of different banks. Questionnaires were designed to conduct interviews. Sample Size was taken as 100. 4. Scaling technique used is ordinal, nominal and interval. 5. Preparation and tabulation of data. 6. Data Analysis. The information thus obtained from the survey was used to discover the potential segment for generating new business for the organization and thereby devise strategies to generate new business from that potential segment.

2.1 INDUSTRY INTRODUCTION

Although the antiquated Indian banking system has its roots in the nineteenth century, the character and structure of the system has, however, changed substantially since 1969, when the major banks were nationalized. Prior to nationalization, banking was concentrated only in urban areas. It was clear that a 2

better banking system was needed to promote the economic goals of the new Indian state. Rural markets for industrial goods could not be developed so long as money lenders charge high rates of interest, which was the main source of rural credit. Moreover, the 'green revolution' depended on farmers finding substantial sources of credit to pay for fertilizers and hybrid seeds. Since the mid-1970s, there has been a spectacular growth in the number of bank branches and in the size of their deposits and advances. According to experts in banking this transformation has no parallel anywhere in the world. After nationalization, there was also a change in recruitment policy. For the first time, the doors of the banks were opened to everyone, irrespective of family status, caste, community, religion or gender. Recruitment was done on a more systematic basis, with merit assessed by conducting aptitude tests by an external agency in a relatively impartial manner. As the size of the banking sector increased, the industry became difficult to manage and Computer technology offered a possible solution. In India in the early 1960s, a small number of industrial houses and a few educational, research and development institutions started using computers. During the late 1960s and 1970s, service-oriented industries such as airlines, railways and insurance companies introduced computers in order to 'improve their functioning' and 'to provide better customer service. However, Banks in India did not introduce computers on a large scale because of the fear that these would result in retrenchment and unemployment. For a long time Indian banks faced very little competition and operated in a protected economy and so no long-term policy or perspective was formulated for the banking sector. Banking sector was simply treated as a part of the public sector. But now, well-computerized foreign banks are beginning to compete seriously with the nationalized banks. They target at the profitable and wealthy 2

part of the market and, in contrast to the nationalized banks, do not recognize any social responsibilities to small account holders or to a rural and semi-urban client. The banking and financial services Industry in India is in a state of inevitable and rapid growth. The market for banking products and services has become more competitive than ever before. With the steady fall in interest rates over the two years, customers started looking for alternate avenues for savings and investments such as pension funds, mutual funds, life insurance products etc. Furthermore, interest margins and hence revenue opportunities have become very thin which are driving banks and financial services companies to look for lending opportunities where intrinsically the delinquency rates on loans are low and where the risk can be spread across a large base of customers. Simultaneously, a rapidly growing middle class having an enormous appetite to borrow from Banks for a better and improved lifestyle, has given banks and financial services companies an opportunity to finance the demand side of the Economy. The multinational banks and some of the new private sector banks in the country have entered the Indian market and seized the opportunity very well. The public sector banks and the old private sector banks, who command over 80% market share in the banking industry, must seize the opportunity in a big way and respond aggressively to market demands if the growth in Retail Banking has to be accelerated in the country itself. To be successful in Retail Banking, banks will need to revamp their business model to :(a) build a large volume, highly scalable operation, 3

(b) package and deliver products rapidly in a dynamic market, (c) leverage effectively on multiple delivery channels (branch, etc.) with a view to contain the cost of operations (d) build collaborative relationships with providers of related financial products and services and move towards converting the network of bank branches into financial supermarkets. internet, ATMs

2.2 COMPANY INTRODUCTION Overview

Standard Chartered leading the way in Asia, Africa and the Middle East
Standard Chartered has a history of over 150 years in banking sector and is in many of the worlds fastest growing markets. It has an extensive global network of over 1,200 branches (including subsidiaries, associates and joint ventures) in 56 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas. As one of the worlds best international bank, Standard Chartered employs over 44,000 people, representing 89 nationalities worldwide. Standard Chartered PLC is listed on both the London Stock Exchange and the Stock Exchange of Hong Kong and is ranked among the top 25 among FTSE100 companies, by market capitalization. Serving both Consumer and Wholesale Banking customers, the Bank combines deep local knowledge with global capability to offer a wide range of innovative products and services as well as award winning solutions. Standard Chartered is committed to be the Right Partner to all its stakeholders by living its values and managing its people, exceeding expectations of its customers. Bank has made a difference in the communities in which it operates and works with its regulators. The Bank is trusted by its customers for its standard of governance and corporate responsibility.

History
The Standard Chartered Group was formed in 1969 by merging two banks: The Standard Bank of British South Africa founded in 1863, and the Chartered Bank of India, Australia and China, founded in 1853. Both the companies were keen to capitalize on the huge expansion of trade and to earn the handsome profits to be made from financing the movement of goods from Europe to the East and Africa.

The Chartered Bank

It was funded by James Wilson following the grant of a Royal Charter by Queen Victoria in 1853 . Chartered opened its first branches in Mumbai (Bombay), Calcutta and Shanghai in 1858, followed by Hong Kong and Singapore in 1859. Its traditional business was in cotton from Mumbai (Bombay), indigo and tea from Calcutta, rice in Burma, sugar from Java, tobacco from Sumatra, hemp in Manila and silk from Yokohama Played a major role in the development of trade with the East which followed the opening of the Suez Canal in 1869, and the extension of the telegraph to China in 1871.

 In 1957 Chartered Bank bought the Eastern Bank together with the Ionian Banks Cyprus Branches. This established a presence in the Gulf.

The Standard Bank

It was founded in the Cape Province of South Africa in 1862 by John Paterson and commenced business in Port Elizabeth, South Africa, in January 1863. Was mainly in financing the development of the diamond fields of Kimberley from 1867 and later extended its network further north to the new town of Johannesburg when gold was discovered there in 1885. Expanded in Southern, Central and Eastern Africa and by 1953 had 600 offices. In 1965, it merged with the Bank of West Africa expanding its operations into Cameroon, Gambia, Ghana, Nigeria and Sierra Leone. In 1969, Chartered and Standard to were merged. However, in 1986 , a hostile takeover bid was made for the Group by Lloyds Bank of the United Kingdom. When the bid was defeated, Standard Chartered entered a period of change and provisions were made for third world debt exposure and loans to corporations 1

and entrepreneurs who could not meet their commitments. Standard Chartered began a series of divestments in the United States and South Africa, and also entered into a number of asset sales. In the early 90s, Standard Chartered focused on developing its strong franchises in Asia, the Middle East and Africa using its operations in the United Kingdom and North America in order to provide customers a bridging gap between these markets. Secondly, it focused on consumer, corporate and institutional banking, and on the provision of treasury services. In 2000, it acquired Grind lays Bank from the ANZ Group and the Chase Consumer Banking operations inHongKong.

Establishment of Standard Chartered Bank around the world

Country United Kingdom China, India, Sri Lanka Hong Kong, Singapore Indonesia, Pakistan

Year Established 1853 1858 1859 1863

Country Australia Mexico, Oman Peru Jersey

Year Established 1964 1968 1973 1978

Philippines Malaysia Japan Zimbabwe The Gambia, Sierra Leone, Thailand Ghana Botswana USA Bangladesh Zambia Kenya Uganda Tanzania Bahrain Jordan Korea Qatar Brunei, UAE

1872 1875 1880 1892 1894 1896 1897 1902 1905 1906 1911 1912 1917 1920 1925 1929 1950 1958
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Brazil Venezuela Falkland Islands, Macau Taiwan Cameroon Nepal Vietnam Cambodia, South Africa Iran Colombia Laos, Argentina Nigeria Lebanon Cote dIvoire Mauritius Turkey Afghanistan

1979 1980 1983 1985 1986 1987 1990 1992 1993 1995 1996 1999 2000 2001 2002 2003 2004

Standard Chartered in India

Standard Chartered Bank India is the countrys largest international bank having 82 branches and over 8,000 employees and is one of the profitable bank in India. The Bank has played a significant role in the history of the banking industry in India since opening its first branch at Kolkata in 1858 and completed 150 years of existence as a company in 2003. Standard Chartered Bank India is an active participant in various advisory forums and has played a lead role in RBI committees on Rupee Derivatives and Options. The Banks back office operations, which were Indias first to be accorded ISO 9002 certification, now form part of the state-of-the-art global processing and reconciliation hub in Chennai. Standard Chartered is one of the worlds most international banks, headquartered in London and Standard Chartered is named after two banks, which merged in 1969. They were originally known as Standard Bank of British South Africa and the Chartered Bank of India, Australia and China. The Chartered Bank opened its branches in 1858 in Calcutta and Mumbai. In the late 1980s Standard Chartered already had considerable exposure to third world debt. To this were added provisions against loans to corporations and entrepreneurs who could not meet their commitments. Standard Chartered reviewed its operations and decided to focus on its core strengths of Consumer Banking, Corporate and Institutional Banking and Treasury in its well established operations in Asia, Africa and Middle East countries. This led to a series of disinvestments notably in Europe, and Africa. During this time staff numbers were reduced; businesses not considered core were sold or closed; associate holdings disposed off; unprofitable branches closed and back office functions consolidated. In 1

addition expensive buildings were sold with the proceeds reinvested in the business, and the senior management team was radically changed and strengthened. Even within this period of apparent retrenchment Standard Chartered Bank expanded its network, re-opening in Vietnam in 1990, Cambodia and Iran in 1992, Tanzania in 1993 and Myanmar in 1995. Standard Chartered is now focused on providing cross border services to its Latin American core customer base, composed of multinational corporations, international financial institutions and selected large local corporations. In 1999, Standard Chartered acquired the global trade finance business of Union Bank of Switzerland. This acquisition makes Standard Chartered one of the leading clearers of dollar payments in the USA. The Chartered Bank opened its first overseas branch in India, at Kolkata, on 12th April 1858. Eight years later the Kolkata agent described the Banks credit locally as splendid and its business as flourishing, particularly the substantial turnover in rice bills with the leading Arab firms. When the Chartered Bank first established itself in India, Kolkata was the most important commercial city, and was the centre of the jute and indigo trades. With the growth of the cotton trade and the opening of the Suez Canal in 1869, Bombay took over from Kolkata as Indias main trade center. Today the Banks branches and sub-branches in India are directed and administered from Mumbai with Kolkata remaining an important trading and banking center. Standard Chartered employs 38000 people in 950 locations in more than 50 countries in the Asia, the United Kingdom and America. Standard Chartered is one of the worlds most international banks, with employees representing 80 nationalities. Standard Chartered PLC is listed on both the London Stock Exchange and the Stock 2

Exchange of Hong Kong and is in the top 25 FTSE-100 companies, by market capitalization. It serves both Consumer and Wholesale Banking customers. Consumer banking provides credit cards, personal loans, mortgages, deposit taking and wealth management services to individuals and small and medium sized enterprises. Wholesale Banking provides corporate and institutional clients with services in trade finance, cash management, lending, securities services, foreign exchange, debt capital markets and corporate finance. Standard Chartered is well established in growth markets and aims to be the right partner for its customers. The Bank combines deep local knowledge with global capability. The Bank is trusted across its network for its standard of governance and its commitment to making a difference in the communities in which it operates. In India, with 83 branches across 33 cities, it services 1,500 Indian corporations, and 2.1 million retail clients. Besides being crucial to its operations, India is the top contributor to the Standard Chartered Group's profits, and houses the largest unit of the group's service and operations hub, Scope International, that employs over a quarter of the bank's 73,000 people.

FORMATION:
The Standard Chartered Group was formed in 1969 through a merger of two banks: The Standard Chartered Bank of British South Africa founded in 1863, and the Chartered Bank of India, Australia and China founded in 1853.

Both of them were keen to capitalize on the huge expansion of trade and to earn the handsome profits to be made from financing the movement of goods from Europe to the East and to Africa.

THE CHARTERED BANK:

Founded by James Wilson following the grant of a Royal Charter by Queen Victoria In 1853. Chartered opened its first branches in Mumbai (Bombay), Calcutta and Shanghai in 1858, followed by Hong Kong and Singapore in 1859. Traditional business was in cotton from Mumbai (Bombay), indigo and tea in Calcutta, rice in Burma, sugar from Java, tobacco from Sumatra, hemp in Manila and silk from Yokohama. Played a major role in the development of trade with the East which followed the opening of the Suez Canal in 1869, and the extension of the telegraph to China in 1871. In 1957, Chartered Bank bought the Eastern Bank together with the Ionian Banks Cyprus branches. This established a presence in the Gulf.

THE STANDARD BANK:

Founded in the Cape Province of South Africa in 1862 by John Paterson. Commenced business in Port Elizabeth, South Africa in January 1863. Was prominent in financing the development of the financial fields of Kimberley from 1867 and later extended its network further north to the new town of Johannesburg when gold was discovered there in 1885. Expanded in Southern, Central and Eastern Africa and by 1953 had 600 offices. In 1965, it merged with the Bank of West Africa expanding its operations into Cameroon, Gambia, Nigeria, Ghana and Sierra Leone.

In 1969, the decision was made by Chartered and by Standard to undergo a friendly merger. All was going well until 1986, when Lloyds Bank of the United Kingdom made a hostile takeover bid for the group.

SCB PRESENCE IN INDIA

Mumbai Ahmadabad Surat Vadodara Bhopal Pune New Delhi Amritsar Ludhiana Jalandhar Kanpur Lucknow Noida Gurgaon Bhubaneshwar Jalgaon Secunderabad Thane

Jaipur Kolkata Guwahati Chennai Bangalore Hyderabad Coimbatore Ernakulam Howrah Chandigarh Rajkot Nagpur Patna Allahabad Indore Kerela Silliguri Vadodara

2.3 ACHIEVEMENTS/ IMPORTANT DATES FOR SCB

11 July 2008
Standard Chartered Bank scoops Major Euro Money Awards.

5 June 2008
Standard Chartered Opens Paris Branch Office.

15 May 2008
IFC and Standard Chartered Bank Collaborate on the Launch of Innovative CreditLinked Notes to Improve Financing for Microfinance Sector.

3 May 2008
ADB, Standard Chartered Bank Promote Private Sector Investment in Energy-Efficient Projects in PRC

2 May 2008
Standard Chartered to Acquire a Further Stake in Asia Commercial Bank, Vietnam.

29 Feb 2008
Standard Chartered completes American Express Bank acquisition.

18 Jan 2008
Standard Chartered and China Foundation for Poverty Alleviation sign Loan and Cooperation Agreements.

06 Dec 2007
Standard Chartered completes Acquisition of Harrison Love grove & Co. Ltd 3

03 Dec 2007
Standard Chartered Bank ranked First for Trade Transaction Volumes by SWIFT

06 Dec 2006
Standard Chartered Bank Launches China-Africa Trade Corridor

01 Dec 2006
Standard Chartered takes home an unprecedented haul at The Banker Awards

3.1 SAVING ACCOUNT 1. Axcess Plus

Having average quarterly balance of 10,000 and 15,000 .A customer can get instant cash at over 13,000 ATMs across India and over 8, 10,000 ATMs across the world through the Visa network. And get a globally valid Debit Card that lets you shop at over 55,000 outlets in India and at over 12 million outlets across the world.

Unique features
Free access to cash anytime, anywhere, across India. Provides two types of debit cards 1. Shop smart debit card : a customer can withdraw Rs.25,000 per day or shop for Rs.25,000 per day. 2. Gold debit card : a customer can withdraw Rs.95,000 per day or shop for Rs.95,000 per day. One reward point on every Rs.100 spent and one dinners card free. 3

Phone banking, Internet banking, Multi-city banking, 365 days branches, extended banking hours, lockers facility and doorstep banking. At - par cheque book free of cost. Add-on card for your loved one available with the joint account facility Choice of photo, non-photo and picture cards

2. Super Value
The unique Super Value savings account is a proof that the best things in life come free. With an average quarterly balance of just Rs. 50,000, you get a host of services from Standard Chartered Bank absolutely free.

Unique features
Free globally valid Debit-cum-ATM card both shop smart debit card and gold debit card. Free Access to 6500 ATMs in India Free Payable at Par cheque book/ account statements.

One demand draft free daily. Free Doorstep Banking one per day. Free bill pay Free Inter Bank Funds Transfer Free Foreign Inward Remittance Certificates Free Investment Advisory Services

Other benefits of the SuperValue account:

Globally valid debit card - make purchases at over 12 million merchant outlets and withdraw cash at over 810,000 ATMs worldwide using funds from your account Multicity Branch Banking - access your account even when you are out of town Enjoy extended Banking hours at all our branches, and Speed Cheque Clearing and Metro Clearing facilities

24-hour branches, 365 day branches available at select locations Phone banking - available to you 365 days a year on a 24-hour basis in the metros and everyday of the week at other centers Internet banking - access and transact on your accounts through the Internet from any part of the world Free Investment Advisory Services to assist you in investing in a range of mutual funds Full suite of complimentary banking services including credit cards, loan products and capital market services

3. Parivaar
Parivaar savings account is a unique Wealth Management Solution from Standard Chartered Bank that provides flexibility, convenience and essential tools for wealth accumulation and preservation. Parivaar is much more than a regular Savings Account. It allows maintenance of individual identity and tapping of family's financial strength. It also offers attractive insurance options to protect against unforeseen events and the facility of Systematic Investment Plan (SIP), a

unique long-term wealth building tool. A customer has to maintain an average quarterly balance of Rs.25,000.

Unique features
Your family can maintain individual savings accounts with the benefit of clubbing balances in grouped accounts. Anytime, anywhere access to accounts through ATMs, Phone Banking and Internet banking Option of Systematic Investment Plan (SIP), a well known long term wealth building tool that allows investment of fixed amount of money every month in specific mutual funds. At par cheque book free of cost. Provides both shop smart debit card and gold debit card. Head of the family can access accounts of all the members. Globally valid ATM-cum-debit card can be used at 55,000 merchant outlets in India and 12 million outlets worldwide.

4. Account

A unique account that offers you a double advantage, letting you earn the high interest rate of a fixed deposit while you enjoy the flexibility of a savings or current account.

How does the 2-in-1 account work?

The 2-in-1 account gives the facility of linking your fixed deposits with a savings or current account. In case of any shortfall in the savings or current account, funds will be automatically swept in from the linked fixed deposits, thus giving you a combination of both liquidity and higher returns. In case you need to withdraw amounts in excess of what is available in your savings or current account, we will break your deposit for the exact amount you require. The rest of the deposit continues earning the original high interest. With fixed deposit of Rs.1,00,000 or more a 0 balance account can be maintained.

Unique features
Earn fixed deposit interest rates Enjoy the flexibility of a Savings or a Current Account Free personalized cheque book and Debit/ATM card Flexibility of withdrawing money whenever you need it

Deposit more money in your account to earn a higher rate of interest by placing subsequent deposits Phone Banking for account related information at your fingertips Free doorstep facility , SMS banking , Internet banking and Multicity branch banking.

3.2 CURRENT ACCOUNT 1. Business plus

In business, time is money and the Standard Chartered Business Plus Account saves both time and money of a customer. It is designed to cater to all business needs and give a range of conveniences to its customers unmatched by an ordinary current account.

Unique features
Free Multicity At-Par cheque books that saves valuable time and money (payable at all branch locations) Free drafts and pay orders Express Cheque Collection & National Clearing Speed Service Free National Electronic Fund Transfer in over 63 banks and 26,000 branches across India. Funds can be transferred within 24 hours. Free Consolidated Account Statement for every quarter

The option to maintain and operate account in any of the branches for free. Cheque pick-up or DD/PO delivery/ Cash pick up and delivery as per your convenience Doorstep Banking Facility Anytime access to Business Plus Account from anywhere in the world, through Free Internet banking facility Free Phone Banking Facility Debit Card with all benefits of axcess plus saving account which can be used in over 6500 ATMs across the country Special pricing on Trade Services through International Trade and Treasury Services

2. Enhanced Business Plus Account

The Enhanced Business Plus Account offered by Standard Chartered Bank is designed to make business better and make the most efficient use of money.

Unique features
1

Free drafts and pay orders at all Standard Chartered branch locations Free drafts can be availed in correspondent bank locations upto a limit of Rs.75 lakhs per month Multicity At par cheque books payable at all branch locations Special pricing on Trade Services through our International Trade and Treasury Services Express Cheque Collection & National Clearing Speed Service Free National Electronic Fund Transfer in over 63 banks and 26,000 branches across India . The funds of the customers can be transferred within 24 hours. Easy outstation cheque pick up and collection at 175 locations Remote Pay Facility that provides easy delivery of a draft payable at 42 select locations to any address within 24 hours Free doorstep facility Free Internet banking Free Phone Banking 2

Free Multicity banking Free Debit Card with benefits of Axcess Plus saving account. Flexible banking hours

Average Quarterly Balance of various accounts

Current Account Average Quarterly Balance Enhanced Plus 100 Enhanced Plus 500 Enhanced Plus 1000 Business Business Business Rs.100,000 Rs.500,000 Rs.10,00,000

3.3 INSURANCE PLANS (ULIP)

Standard Chartered Bank has a tie up with Bajaj Allianz for selling of insurance plans. Various insurance plans are as follows:-

1. Young Care Plus

This policy insures a safe financial future giving attractive returns and guaranteed life cover with added benefit of Critical Illness cover.

Unique Features

Loyalty units to enhance the fund value of the customer every year from the sixth policy year. Provides a guaranteed Sum Assured plus to pay premium on behalf of the customer. In case of an unfortunate death of a customer or on being diagnosed to be suffering from specified critical illness, whichever occurs first. The policy continues to participate in investment performance of the fund till maturity even after the payment of Sum Assured as part of death or critical illness benefit. A fund called Asset Allocation Fund looks after the investment of the customer even when market condition change. The fund managers monitor the mix of assets in the fund and manage the mix in order to maximize your returns. If the customer wants to manage the mix of assets for their own policy, there is a choice of 5 other investment funds, with complete flexibility to switch money from one fund to the other to manage the investment better. The policy continues to participate in investment performance of the fund even if the customer is not able to pay the premium for first 3 full years.

The policy provides flexibility of partial withdrawals at any time after three years from commencement of the policy provided first three full years premiums are paid. The policy provides an option to pay top up premiums anytime during the tenure of the policy in order to enhance the savings in the future. The policy also gives an option to choose UL Accidental Permanent Total/Partial Disability Benefit as an individual rider benefit to provide assurance to the whole family.

1. New Unit Gain

This insurance plan is structured in order to provide a secure life cover with extraordinary benefits aligned with commitment to give the ultimate investment plan. 1

Unique Features

Apart from normal allocation the customer receives Loyalty Units equivalent to 51% of First Years Annualized Premium over a period of 10 years. The investment plan gives a choice of six investment funds with unmatched flexibility in order to manage the investments better. Even if the customer is not able to pay3 full years premium, the policy continues to participate in investment performance of the fund. It provides maximum flexibility in ways like an option to increase premium, partial withdrawals anytime after three years from the commencement of policy, provided three full years premiums are paid, advantage of three free switches every year and an option to pay unlimited top up premiums anytime during the tenure of the policy to further enhance the saving of the customers. Option of three simple terms 15, 20 and 25 years. A guaranteed life cover with a flexibility to choose insurance cover according to the changing needs. 2

Many other additional rider benefits in order to provide additional protection.

1. New Secure First

The policy provides a combination of protecting life of an individual with attractive prospect of investing in securities.

Unique Features

An individual can choose the funds in which he/she wishes to invest which gives the individual an opportunity to have a direct stake in the performance of the financial markets The policy gives attractive tax advantages. The policy provides guaranteed death benefit i.e. value of units plus Sum Assured. It provides a choice of five investment funds with flexible investment management. A customer can easily change funds at any time and can also invest in the newer funds that would be introduced from time to time.

It gives attractive investment alternative to fixed interest securities. There is a provision for full/partial withdrawals any time after three years from commencement if three full years premiums are paid. The policy gives unmatched flexibility to match changing needs. 1. Future Secure

An insurance plan that gives a unique Asset Allocation Pension Fund. The plan ensures independence to the individual and provides flexibility to accommodate to the ever changing needs.

Unique Features

An individual can adopt their own investment strategy by choosing from 6 different investment funds with different fund objectives that suits the risk profile of the customer giving him flexibility to switch funds or invest in the newly introduced funds. A unique investment Asset Allocation Pension Fund is offered under this plan. The fund managers monitor the mix of assets in the fund in order to maximize returns. 1

The policy also gives a choice of 5 other investment funds, giving complete flexibility to switch money from one fund to another in order to manage investments better. The policy continues to premium for 3 full years. The policy gives two options a pure pension plan and a pension plan with life cover. It provides 4 additional rider benefits to choose from to further enhance the risk cover. It gives Loyalty Units to enhance the fund value every year from the sixth policy year. The policy provides an option to pay unlimited top up premiums anytime during the tenure of the policy to further enhance the savings. Provides flexibility to increase or decrease the regular premium, change the premium apportionment, switch between funds and also to change the premium payment mode. participate in the investment

performance of the fund even if the customer is not able to pay

3.4 CREDIT CARDS

The Gold Card offered by Standard Chartered is not less than a credit card. It provides special deals at various restaurants, travel benefits and many more privileges. Unique features:-

Some of the exclusive benefits availed by a Gold Card member: Privilege access to Airport Lounges: The Gold Card of Standard Chartered Bank ensures the entry of its holder into exclusive airport lounges in Delhi, Chennai and Kolkata including complimentary non-alcoholic beverages and snacks. Global Acceptance The Gold Card is the most widely accepted and respected credit card in over 19 million VISA and MasterCard establishments worldwide and over 1.1 lac establishments in India and Nepal. 2

Balance Transfer Option The Gold Card helps its holders to transfer the outstanding balance from any other credit card to the Standard Chartered global credit card at a special rate lower than the 2.95% p.m. which is the current rate. Revolver Facility The revolver facility of Gold Card allows payment of just 5% of the outstanding amount on the card every month

Cash Advance Facility The cash advance facility provides 24-hour access to cash upto 30% of the credit limit at 850,000 ATMs worldwide and 6500 ATMs all over India. Doorstep Facility Convenience of facilities at the doorstep of customers. Both pick up and drop facility. Picture Card A picture that is close to the heart of the customer can be used to make the card as unique as he want it to be. Photo Card It can be a measure to safeguard the credit card by opting for a Photo Card

Zero Lost Card Liability In case the card is lost, the customer can avail the benefit of the Zero Lost Card Liability. Credit Free Period The Gold Card provides credit free period of upto 52 days. 24 hour Help-lines A customer can use the help-lines for any queries 24/7. Cheque collection boxes Payments can be made on Standard Chartered Credit Card conveniently by placing the cheques at cheque collection boxes across centers.

Airline/Railway counters The Standard Chartered Credit Card can be used to purchase railway/airline tickets online or at railway & airline counters and gives access to exclusive airport lounges. Instant Buys A customer can pay in easy installments for high value purchases on the credit cards at attractive rates of interest. Rewards Plus Program

One reward point is awarded on every Rs.100 spent on Standard Chartered credit card which can be exchanged for attractive gifts. Travel Cash Back International air tickets which are purchased through Carlson Wagonlit/ BTI Sita gives a special cash back offer.

3.5 SERVICES
Going beyond assurances and promises Service Guarantee by Standard Chartered Bank gives the power to demand the superior service that one truly deserves. Every time a service is delayed beyond the guaranteed time given below, a customer can claim INR 50 for each day of the delay. 2

The Room service Guarantee A representative of the Standard Chartered Bank meets its customer within 24 hours of the call. The ATM card Guarantee ATM card would be received within seven working days of application of the card. The Deposit Confirmation Delivery Guarantee For a new account, the deposit confirmation will reach the customer within five working days of submission of the completed account opening forms to the bank. The Cheque-book Delivery Guarantee The cheque book will be received within seven working days of placing the request. The Finance Against Shares Guarantee The Setting up of overdraft limit and enhancement of the overdraft limit within five working days of receiving the completed documents, and if the customer wishes to enhance the limit, it will be done within three working days of receiving the documents and dividend warrants.

Retail Banking
Personal banking is similar to retail banking. The essence is that the products and services of the bank are tailored to meet individual banking and ancillary needs, including everything from a checking account to investment advice. The different products available through personal banking include current accounts, savings accounts, certificate deposits, cards with rewards, different types of loans, and personal lines of 2

credit, credit cards, private banking services, investment management, insurance and advisory services. Insurance, investment advice and wealth management are high end products offered in Retail banking. The most prominent feature in Retail banking today is technology enabled, customized products and services like anywhere banking, ATMs and the delivery of services through channels like a telephone and the Internet. The idea is that the customer need not come to the branch for their services and that everything should be delivered to the customer at his convenience. The bank will provide single window service, meaning that customers can visit one counter for any banking need. Retail banking is quickly catching up in almost all the countries in the world and is expected to contribute significantly to the banks total revenue. Almost 15-20% of the customers contribute up to 90% of the banks business, so proper service to these customers will deepen the financial relationships. Everyone with a personal bank account needs to be very cautious and pay close attention to all aspects of their account. People should promptly review their bank statement, avoid having to pay unnecessary fees and bank charges, avoid leaving discarded bank documents behind, avoid banking on line in public places Free Web Content, and periodically change their password.

Need for Retail Banking

Personal banking is a need for everyone. Be it saving, credit, investing, tax planning etc. Personal banking becomes handy as it provides opportunity for the customers to avail or access their needs according to their preference. Today Retail Banking sector is characterized by three features: 3

Multiple Products
Deposits Credit Cards Insurance Investments Securities

Multiple Channel of Multiple Customers Distribution

Call Center Branch Internet Kiosk

Groups
Consumer Small Business Corporate

Drivers of the Retail Business in India

Economic Prosperity:
Economic prosperity and increase in purchasing power has given fillip to a Consumer boom. During the 10 yrs after 1992, Indias economy grew at an a Average rate of 6.8%.

Consumer Demographics
Increasing affluent, with bulging middle class The youngest population in the world. Increasing literacy levels Higher adaptability to technology. Urbanization is a continuity trend. Increasing consumption mindset in India.

Technological Factors
Technological factor play a crucial role. Today innovations relating to increase use of credit/debit cards, ATMs, internet and phone banking have contributed to the growth of retail banking in India. 3

Treasury income of the bank

Treasury income of the bank, which had strengthened the bottom line of banks for the past few years, has been on the decline during the last two years. In such scenario, retail business provides a good vehicle of profit maximization.

Opportunities & Challenges/Future of Retail Banking

Retail banking has immense opportunity in a growing economy like India. As the growth story gets unfolded in India, retail banking is going to emerge a major drive. How does the world view us? A.T. Kearney, a global management consulting firm, recently identified India as the second most attractive retail destination of 30 emergent markets. The risk of the Indian middle class is an important contributory factor in this regard. The percentage of middle to high income Indian households is expected to continue rising. The younger population not only wields increasing purchasing power, but as far as acquiring personal debt is concerned, they are perhaps more comfortable than previous generations. Improving consumer purchasing power, coupled with more liberal attitude towards personal debt, is contributing to Indian banking retail segment.

CHALLENGES
First, Retention of customer is going to be a major challenge. According to research by Reich held and Sasser in the Harvard Business Review, 5 percent increase in customer retention can increase profitability by 35 percent in banking business, 50 percent in insurance and brokerage, and 125 percent in the customer in credit card market. Thus, banks need to emphasize retaining and increasing market share. Second, rising indebtedness could turn out to be a cause for concern in the future. Indias position, of course, is not comparable to that of the developed world where household debt as a proportion of disposable income is much higher. Such a scenario creates high uncertainty. Expressing concern about the high growth witnessed in the consumer credit segment the Reserve bank has, as temporary measure, put in place risk containment measure and increased the risk weight from 100 percent to 125 percent in

the case of consumer credit including personal loans and credit cards (Mid- term review of Annual policy, 2004-2005). Third, information technology poses both opportunities and challenges. Even with ATM machines and internet banking, many consumers still prefer the personal touch of their neighborhood branch bank. Technology has made it possible to deliver services thought the bank network, providing instant update to creaking accounts and rapid movement of money for stock transfer. However, this dependency on the network has brought IT departments additional responsibilities and challenges in managing, maintaining and optimizing the performance of retail banking network. Illustratively, ensuring that bank products and services are available, at all times, and across the entire organization is essential for todays retail banks to generate revenues and remain competitive. Beside, there are network management challenges; whereby keeping these complex, distributed networks and applications operating properly in support of business objectives become essential. Specific challenges include ensuring that account transaction applications run efficiently between the branch office and data centers. Fourth, KYC issues & money laundering risks in retail banking is yet another important issue. Retail lending is often regarded as a low risk area for money laundering because of the perception of the sums involved. However, completion for client may also lead to KYC procedures being waived in the bid for new business. Banks must also consider seriously the type of identification documents they will accept & other process to be completed.

Future of Retail Banking

Share of retail credit expected to grow from 22% to 36%. 2

 Dramatic changes expected in the credit portfolio of banks in the next five yrs. Housing will continue to be the biggest growth segment followed by auto loans. Banks need to expand and diversify by focusing on the non urban segment as well as varied income and demographic groups. Rural areas offer tremendous potential to which needs too be exploited.

Major Players in Retail Banking Central bank Nationalized banks

Reserve Bank of India (Regulatory Bank)

State Bank of India Allahabad Bank Andhra Bank Bank of Baroda Bank of India Bank of Maharashtra Canara Bank Central Bank of India Corporation 1

Bank Dena Bank Indian Bank Indian Overseas Bank Oriental Bank of Commerce Punjab & Sind Bank Punjab National Bank Syndicate Bank Union Bank of India United Bank of India UCO Bank IDBI Bank

Private banks

Axis Bank Bank of Rajasthan Federal Bank HDFC Bank ICICI Bank ING Vysya Bank Jammu & Kashmir Bank Kotak Mahindra Bank SBI Commercial and International Bank South Indian Bank YES Bank

Foreign banks

Citibank HSBC Standard Chartered Deutsche Bank-ABN AMRO Bank- American Express Bank ltd.-DBS Bank ltd.

Regional banks

South Malabar Gramin Bank

PHONE BANKING

It is a service that enables to access financial information and services 24hours a day, 7 days a week. Phone Banking avails: Check Account Balance. Get details about Specific Instructions. Inquire about the status of a particular cheque. Order Demand Drafts. Stop a cheque or a series of cheques. Transfer funds among linked accounts. Ask for a statement of a account or a cheque book Change Deposit tenure. Get information on Deposit rates, lending rates, exchange rates and banking charges. Make complaints and suggestions. Access any information in SCBs products and services.

MOBILE BANKING
CARDLESS CASH:
It allows SCB customers to transfer cash instantaneously to anybody irrespective of whether the beneficiary has a SCB account or not within all cities where SCB is present. No transaction fee. Can transfer a maximum of Rs. 10,000/- per day to a mobile number. Can transfer a maximum of Rs. 20,000/- per day per card. Transaction valid only for 24 hours.

ONLINE BANKING
Online Banking is absolutely free, easy and secure, allowing accessing most bank services and a host of features. Online Banking provides a range of services at the fingertips. Account Information. Funds and Payments. Inter Bank Fund Transfer. Investment Services. Credit Card Services.

Online Applications. Market Watch. Personal Update. Personal Mailbox.

SME BANKING (Small and Medium Entrepreneurial Banking)

The aim of SME banking is to help the business reach at its fullest potential i.e., to provide international support for the growth of business. It supports the customers with customized product packages, responsive services and access to expert advice.

Benefits at a glance:
Enjoy preferential pricing on business transactions. Receive rewards on banking services rendered. Take advantage of the national network and trade expertise. Gain unlimited access to professional advice, products and services through Relationship Manager. Get the right products, services and support for local and international businesses.

FINANCIAL REPORT
Balance Sheet as at 31 March, 2007 For the year ended For the year ended 31.3.2007(Rs. 000s)

. 31.3.2006(Rs. 000s) _____________________________________________________ Capital & Liabilities Capital 5,281,975 Reserves & Surplus 40,334,119 Deposits 284,598,056 Borrowings 79,167,877 Other Liab. & 50,164,127

5,281,975 52,726,184 341,740,351 63,518,196 Provisions 125,265,063

______________________________________________________ Total capital & liabilities 588,531,769 459,546,154

______________________________________
Assets

Cash & Bal. with the RBI 20,035,416 14,012,047 Balances with banks 20,232,683 33,868,569 & Money at call & short notice Investments 119,022,852 106,317,316 Advances 301,037,976 240,767,280 Fixed Assets 8,772,625 8,913,964 Other Assets 119,430,217 55,666,978 _______________________________________________________ Total assets 588,531,769 459,546,154 Contingent liabilities 8,159,001,109 3,809,554,242

______________________________________
Bills for collection 46,620,844 56,331,265

______________________________________
Profit and Loss Account as at 31 March, 2007 . 31.3.2006(Rs. 000s) _____________________________________________________ Income 40,427,830 30,563,503 Other Income 13,473,330 10,577,377 ______________________________________________________ Total Income 53,901,160 41,140,880
2

For the year ended

For the year ended 31.3.2007(Rs. 000s)

______________________________________
Expenditure Interest Expended 16,518,869 11,901,671 Operating Expenses 14,002,839 12,010,999 Provisions & Contingency 9,736,330 8,179,733 _______________________________________________________ Total Expenditure 40,258,038 32,092,403 _______________________________________________________ Net Profit 13,643,122 9,048,477

Significant changes:For a bank one of the most important forms of liability is the amount of deposits it has procured from the public. For Standard Chartered Bank, this figure has shown an increase of almost 20%. The increase in provision is also very tremendous from 50,164,127 to 125,265,063 i.e. an increase of 150%. Now as far as assets are concerned the company has been able to create good amount derivative deposits. In other words, the company utilized the amount it collected in the form of deposits towards advances and other assets thereby increasing the overall assets. Contingent liabilities have also shown a tremendous increase of 4,349,446,867 crores i.e. almost an increase of 114%.

When we look at the income and expenditure of the company over the year, both have shown an increase of 31% and 25% respectively increasing the net profit of the company by almost 50%.

RESEARCH METHODOLOGY
1. Research: 1

Research is the process of finding out the interpretation and analysis of survey data made during the course of summer training study. It is impact of how different respondents and for which overall representation of consumer population and its impact is obtained. What is generally demanding is the basis of survey, the methods of research conduct and the necessary conclusive inferences. The following can be summarized as vitals of research:-

2. Objective: The Objective for the basis of Research was: COMPARATIVE ANALYSIS OFFINANCIAL PRODUCTS AND SERVICES OF STANDARD CHARTERED BANK.

3. Process of Research methodology: 1. Collection of Data: - The data for research and necessary
evidences can be obtained n the following two ways: -

a) Primary Data: - Where the data is fresh and collected by the

surveyor himself by interviewing posing direct personal questionnaire to the respondents.

b) Secondary Data: - Where the data information can be collected

through other sources which are either published sources such as magazines, books and journals and via references such as websites.

1. Interpretation of data; - After the collection of data, data is

interpreted and analyzed to form necessary findings during survey

and are represented graphically through charts and pies, which serves a significant portion of the summer training project.

2. Conclusion: - When the data is interpreted and analyzed we

researched at the conclusion of the survey conducted, which is used to summarize the whole story of summer training and marketing survey and its analysis. 4. Questionnaire: - For the purpose of conducting fruitful survey, necessary set of questions are being drafted by the surveyor which is called questionnaire and put forth against respondent individual to get their views about the particular questionable aspect. Questionnaire can be either Open ended or close ended.

1. Open ended: - where the respondents were asked to freely and

comfortably give their views on the necessary questions put before them.

2. Close ended: - where the respondents are set limited to the

choices framed by surveyor and made to select any one out of them. He cannot give open review in respect to them. 5. Sampling: During the course of summer training Random sampling is used where individuals have been collected randomly from various parts of the city and are represented as respondents. These respondents act as a major source of fulfilling and conducive in achieving the objective of the project. 6. Sample Size: 100 individuals were interviewed and questioned as respondents from them the primary data was obtained and therefore

these respondents were taken as sample size representing entire population of surveyed mass.

4. Tools and Techniques used for Data Collection:A structured questionnaire shall serve as the research instrument for data collection. Discussions with the different officials in Standard Chartered bank shall provide useful inputs in the form of to achieve the objective of study.

Table 1

Comparative Analysis Standard Chartered Vs. Other Multinational Banks

Bank Services 1. Branches Standard Chartered 68(Metros) & 83(India) 165 Yes ABNAMRO 17(Metros) & 19(India) 78 Yes Citibank 25(Metros) & 35(India) 376 Yes HSBC 30(Metros) & 39(India) 158 Yes

2. ATMs 3.ATM/Debit Card 4.Charges Rs. 200 p.a. Rs. 200 p.a. Rs. 100 p.a. Rs. 150 p.a. for ATM card 5.ATM/Debit Yes Yes Yes Yes Card access to other banks 6.Charges 4 2 Rs. 50 per Rs. 50 per per transaction transaction transaction transaction transaction free/month free/month from ATMs and then and then of other Rs. 50 per Rs. 40 per banks transaction transaction 7.Locker Yes, Rs. Yes Yes Yes Facility 2000 per
3

8.Cheque deposit boxes 9. Global Debit card 10. Global Credit card 11.Average banking hrs 12. Sunday Banking 13.Minimun Balance Saving 14. Charges for nonmaintenanc e of min. balance 15.Cash Withdrawal per day 16. Cash transaction from nonbranch 17.Statemen t charges 18. 24 hours branch 19. 365 days branch 20.Automat

annum Yes Yes Yes 10 AM 7 PM Yes 10,000 Rs. 750 per quarter

Yes Yes Yes 10 AM 7 PM Yes 10,000 Rs 200 to Rs 1800 per month 25,000 1,00,000 Yes

Yes Yes Yes 10 AM 2 PM Yes 10,000 Rs 250 per month

Yes Yes Yes 9 AM 4 PM No 10,000 Rs 300 per quarter

25,000 Yes

50,000 Yes

25,000 Yes

Free Yes Yes Yes

Free No Yes No
2

Free No Yes No

Free No No Yes

ed cheque reorder 21. Multicity Branch banking 22. National clearing 23. Speed Clearing 24. Net Banking 25. Mobile Banking 26.Phone Banking 27. DMAT 28.Priority Banking 29.Flexibilit y of Interest Rates 30.Door step Banking 31. Cash Delivery 32. Cash pick up 33. Cheque pick up

Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes

Yes Yes(3-5 days) Yes Yes Yes Yes Yes Yes No Yes

Yes Yes(7-15 days) Yes Yes Yes Yes Yes Yes No Yes

Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes(charge d) Yes(charge d) Yes

Yes(charge Up to 1 lakh Yes(charge d) free & d) above charged Yes(charge Yes(charge Yes(charge d) d) d) Yes Yes Yes

Explanation :
1. Most of the branches of Multinational banks are concentrated in the metros. The branches of Standard Chartered bank are comparatively more than ABN Amro, Citi bank and HSBC bank. But ATMs of Citi bank are higher. 2. Almost every bank provides ATM cards to their customers to make banking more easier. Customers do not have to visit the banks for deposits and withdrawals. ATM service can be accessed through other banks as well. Few banks provide this facility free of cost while others have charges for it. All the banks mentioned above have their respective charges. 4

3.

Locker facility is chargeable under Standard Chartered bank at Rs. 2000 p.a. but in other banks this facility is offered free of cost.

4.

Banking hours of the banks are almost the same. Branches are open even on Sundays and Standard Chartered bank provides 24 hours banking to its customers.

5.

The Average Quarterly Balance is Rs. 10,000 for all the four banks. If the customer is not maintaining this minimum balance there are charges for non maintenance.

6. 7.

Bank statements are available free of cost. Cash withdrawal per day for to Rs. 1,00,000. Standard Chartered bank is the lowest at

Rs.25,000 while for ABN Amro it is the highest and ranges from Rs. 25,000

8.

Doorstep banking is a new facility which was first introduced by Standard Chartered bank and is now used by almost every bank. Banks have their respective pickup and drop charges.

9.

Multibranch banking, phone banking, mobile banking, internet banking, national clearing and speed clearing facilities are provided by all the four banks.

10. Priority banking includes customers of high value and is provided by every bank these days.

Table 2

Comparative Analysis Standard Chartered Vs. New Private Sector Banks

1

Bank Services 1. Branches 2. ATMs 3.ATM/Debit Card 4.Charges for ATM card 5.ATM/Debit Card access to other banks 6.Charges per transaction from ATMs of other banks 7.Locker Facility 8.Cheque deposit boxes 9. Global Debit card 10. Global Credit card 11.Average banking hrs

ICICI

HDFC

AXIS 96(Metros) & 247(India) 1599 Yes

IDBI 43(Metros) & 120(India) 329 Yes

158(Metros) 194(Metros) & & 508(India) 446(India) 1910 1147 Yes Yes Rs. 99 p.a. Yes

Rs. 100 p.a. Rs. 150 p.a. Rs. 100 p.a. Yes Yes Yes

Rs. 50 per transaction

Rs. 50-100 per transaction

Rs. 50 per transaction

Rs. 50 per transaction

Yes, Rs. 750 per annum Yes Yes Yes 9 AM 4 PM

Yes Yes Yes Yes 10 AM 4 PM

1

Yes Yes Yes Yes 10 AM 4 PM

Yes Yes Yes Yes 10 AM 4 PM

12. Sunday Banking 13.Minimun Balance Saving 14. Charges for nonmaintenanc e of min. balance 15.Cash Withdrawal per day 16. Cash transaction from nonbranch 17.Statemen t charges 18. 24 hours branch 19. 365 days branch 20.Automat ed cheque reorder 21. Multicity Branch banking 22. National clearing 23. Speed Clearing 24. Net

No 5,000 Rs. 300 per quarter

Yes 5,000 Rs 150 to Rs 500 per month 15,000 Yes( Up to 1,00,000) Free No No No Yes Yes Yes Yes
2

No 5,000 Rs 200 per month

No 5,000 Rs 100 per quarter

15,000 Yes

20,000 Yes(Up to 1,50,000) Free No No No Yes(selecte d cities) Yes Yes Yes

25,000 Yes(Up to 50,000) Free No No No Yes Yes Yes Yes

Free No No No Yes Yes Yes Yes

Banking 25. Mobile Banking 26.Phone Banking 27. DMAT 28.Priority Banking 29.Flexibilit y of Interest Rates 30.Door step Banking 31. Cash Delivery 32. Cash pick up 33. Cheque pick up

Yes Yes Yes Yes Yes Yes

Yes Yes Yes Yes Yes Yes

Yes Yes Yes Yes Yes Yes (for selected customers) Yes(charge d) Yes(charge d) Yes(charge d)

Yes Yes No Yes Yes Yes(for selected customers) Yes(charge d) Yes(charge d) Yes(charge d)

Yes(charge Yes(charge d) d) Yes(charge Yes(charge d) d) Free once a Yes(charge month d)

Explanation :
1. The branches of private sector banks are spread all over India and is not concentrated only in the metro cities. 2. The number of ATMs of private sector banks are comparatively high than that of multinational banks. Banks have charges for the ATM cards and ATM services of other banks can be accessed by paying an amount. 3. Locker facility is provided by all the banks. Its chargeable under ICICI bank but is provided free of cost by the remaining banks. 4. Banking hours of all the four banks are almost the same. No 24 hours banking is provided by any of the banks and only HDFC bank provides banking on Sundays. 5. Minimum balance for saving account for all the banks are Rs.5,000 and there is a charge for non- maintenance of this balance. 4

6.

Cash transaction from other banks can be done by customers of all the four banks.

7.

National clearing, speed clearing, mobile banking, phone banking, internet banking and Multicity branch banking is provided by all the banks. But AXIS bank has Multicity branch banking facility only in selected cities.

8. 9.

Priority banking is available under all the banks. Doorstep banking is provided by all the banks but AXIS and IDBI provide this facility only to priority banking customers. All the banks have charges for cash pick up, cheque pick up and cash delivery.

DEMOGRAPHIC ATTRIBUTIONS Age

Table 4.3

Age Frequency 15 26 40 19 100 Percent 15.0 26.0 40.0 19.0 100.0 Valid Percent 15.0 26.0 40.0 19.0 100.0 Cumulative Percent 15.0 41.0 81.0 100.0

Valid

Below 20 years Between 20 and 40 years Between 40 and 60 years Above 60 years Total

Figure 4.1
From the above analysis, I can analyze that normally people in the age group 20-60 maintain their relations with multinational or private sector banks. While, people in the age group of below 20 years and above 60 years are somewhat indifferent.

Occupation
Table 4.4
Occupation Frequency 13 47 36 4 100 Percent 13.0 47.0 36.0 4.0 100.0 Valid Percent 13.0 47.0 36.0 4.0 100.0 Cumulative Percent 13.0 60.0 96.0 100.0

Valid

Student Service Business Others Total

Figure 4.2
From the above figure, we can analyze that the major proportion of the customers of the Multinational banks and the Private sector banks are from the service class and the business class. So the potential market segment of the customers of the various banks comprises of the service and the business class.

Annual Income
Table 4.5
Annual Income Frequency 13 11 44 32 100 Percent 13.0 11.0 44.0 32.0 100.0 Valid Percent 13.0 11.0 44.0 32.0 100.0 Cumulative Percent 13.0 24.0 68.0 100.0

Valid

Dependant Below 2 Lakh Between 2-5 Lakh Above 5 Lakh Total

Figure 4.3

From the above results, it can be analyzed that people whose income is above two lakhs normally go for relations with multinational banks or some private sector banks. While people who are dependent prefer Public sector banks.

Factors Affecting the banking habits of people

1

The banking habits were studied on the basis of six features included in the questionnaire. The respondents were asked to rate each of these features on a scale of five factors namely lowest, low, average, high and highest. The following results were obtained for each of these factors:

1. Location Table 4.6

Location Frequency 11 50 39 100 Percent 11.0 50.0 39.0 100.0 Valid Percent 11.0 50.0 39.0 100.0 C umulative Percent 11.0 61.0 100.0

Valid

Average H igh H ighest Total

From the above figure, it can be said that people normally rated the factor Location as high. Thus it can be concluded that location is one of the most important factor for people while choosing a particular bank.

Figure 4.4

2. Ambience Table 4.7

A mbience Frequency Valid Low est Low Average H igh H ighest Total 3 8 51 34 4 100 Percent 3.0 8.0 51.0 34.0 4.0 100.0 Valid Percent 3.0 8.0 51.0 34.0 4.0 100.0 C umulative Percent 3.0 11.0 62.0 96.0 100.0

Figure 4.5
From the above figure, it is pretty clear that people rate the factor ambience as average or high. The reason behind rating this factor as normally average is that people told that they hardly have the time to go to the bank. Though, it does have an effect on people but is not of much importance to them so they rated it as average.

3. Timings Table 4.8

Timings Frequency Valid Lowest Low Average High Highest Total 1 4 58 36 1 100 Percent 1.0 4.0 58.0 36.0 1.0 100.0 Valid Percent 1.0 4.0 58.0 36.0 1.0 100.0 Cumulative Percent 1.0 5.0 63.0 99.0 100.0

Figure 4.6

From the above figure, it is evident that the factor timings is rated as average by people. Many people rated this factor as average because they think that all the banks have the same timings. Therefore it is not of much importance to people while choosing particular bank.

4. Products Offered Table 4.9

Product O ffered Frequency 17 64 17 2 100 Percent 17.0 64.0 17.0 2.0 100.0 Valid Percent 17.0 64.0 17.0 2.0 100.0 C umulative Percent 17.0 81.0 98.0 100.0

Valid

Low Average H igh H ighest Total

Figure 4.7

From the above figure, it is evident that the factor products offered is rated as average by people. Many people rated this factor as average because they think that all the banks offer the same kind of products. Therefore it is not of much importance to people while choosing particular bank.

5. Information Table 4.10

Information Frequency 15 74 11 100 Percent 15.0 74.0 11.0 100.0 Valid Percent 15.0 74.0 11.0 100.0 Cumulative Percent 15.0 89.0 100.0

Valid

Average High Highest Total

Figure 4.8

Most of the respondents rated this factor as high. The reason behind such rating was that most of the respondents felt that they were not provided with the right information about the products. So they wanted that they should be provided with the right information and should not be deceived.

6. Service Table 4.11

Service Frequency Valid Average H igh H ighest Total 1 40 59 100 Percent 1.0 40.0 59.0 100.0 Valid Percent 1.0 40.0 59.0 100.0 C umulative Percent 1.0 41.0 100.0

Figure 4.9

This factor was rated by the respondents as the highest. Almost every respondent rated Service as highest because they felt that once they use any product of a bank then the services which are provided along with the product effect the relationship of the customers with that particular bank. On the basis of the results obtained from the survey it can be clearly stated that Service is the most important criteria for choosing a bank.

Rating of Banks 1. Multi-national Banks Standard Chartered Bank

Table 4.12
Standard Chartered Frequency Valid Low Average High Highest Total 3 32 50 15 100 Percent 3.0 32.0 50.0 15.0 100.0 Valid Percent 3.0 32.0 50.0 15.0 100.0 Cumulative Percent 3.0 35.0 85.0 100.0

Figure 4.10
Standard Chartered Bank is normally rated by people as high which means that people keep a good opinion about Standard Chartered Bank.

ABN Amro
2

Table 4.13
AB A N mro Frequency 38 60 2 100 Percent 38.0 60.0 2.0 100.0 Valid Percent 38.0 60.0 2.0 100.0 C umulative Percent 38.0 98.0 100.0

Valid

Average H igh H ighest Total

Figure 4.11
From the above data it can be stated that ABN - Amro also has a good reputation among multinational banks as it has been rated by most of the respondents as an above average bank.

Citibank
Table 4.14
Citibank Frequency 30 66 4 100 Percent 30.0 66.0 4.0 100.0 Valid Percent 30.0 66.0 4.0 100.0 Cumulative Percent 30.0 96.0 100.0

Valid

Average High Highest Total

Figure 4.12
Citibank has also been rated as an above average bank by the respondents. People feel that Citibank is providing good facilities along with the products it offers.

HSBC
Table 4.15
HSBC Frequency Valid Average High Highest Total 6 71 23 100 Percent 6.0 71.0 23.0 100.0 Valid Percent 6.0 71.0 23.0 100.0 Cumulative Percent 6.0 77.0 100.0

Figure 4.13

From the above data, it is evident that HSBC is the best rated bank among all multinational banks in India. The respondents who had their relationship with HSBC were very much satisfied with the services provided by HSBC.

Private Sector Banks

3

ICICI Bank
Table 4.16
IC I IC Frequency Valid Low Average H igh H ighest Total 2 72 25 1 100 Percent 2.0 72.0 25.0 1.0 100.0 Valid Percent 2.0 72.0 25.0 1.0 100.0 C umulative Percent 2.0 74.0 99.0 100.0

Figure 4.14
ICICI was rated as an above average bank when compared with the multinational banks and the new private players in this industry. Some respondents had a good experience with ICICI and were satisfied with the facilities and services provided by them while some were not satisfied with ICICI. So there was a mixed opinion about ICICI.

HDFC
Table 4.17
H FC D Frequency Valid Low Average H igh Total 6 67 27 100 Percent 6.0 67.0 27.0 100.0 Valid Percent 6.0 67.0 27.0 100.0 C umulative Percent 6.0 73.0 100.0

Figure 4.15
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From the above data obtained it can be analyzed that HDFC was rated as an average bank by most of the respondents. The reason behind such ratings was that people were not satisfied with the services provided by HDFC. Some had faced the problem because of non availability of third party transactions while some were tired of a long queue outside its ATM machines.

IDBI
Table 4.18
ID I B Frequency Valid Low est Low Average H igh Total 1 19 76 4 100 Percent 1.0 19.0 76.0 4.0 100.0 Valid Percent 1.0 19.0 76.0 4.0 100.0 C umulative Percent 1.0 20.0 96.0 100.0

Figure 4.16

IDBI was also rated as an average bank by most of the respondents. Although a very few had maintained relationships with IDBI but even these few were not satisfied with the services and other facilities provided by IDBI.

For Standard Chartered Bank Only

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Products Offered
Saving Account Table 4.19
Saving Acc Frequency 45 55 100 Percent 45.0 55.0 100.0 Valid Percent 45.0 55.0 100.0 Cumulative Percent 45.0 100.0

Valid

Yes No Total

Figure 4.17
From the survey, I analyzed that people who had relations with Standard Chartered Bank preferred to have their saving account with Standard Chartered Bank.

Current Account Table 4.20

C urrent A cc Frequency Valid Yes N o Total 7 93 100 Percent 7.0 93.0 100.0 Valid Percent 7.0 93.0 100.0 C ulative um Percent 7.0 100.0

Figure 4.18
1

From the above data it can be easily interpreted that a very few of those people who were maintaining relationship with Standard Chartered Bank had their Current account in Standard Chartered bank. So it can be said that people were not much interested in having their Current Account with Standard Chartered Bank.

Term Deposits Table 4.21

Term D eposits Frequency Valid Yes N o Total 1 99 100 Percent 1.0 99.0 100.0 Valid Percent 1.0 99.0 100.0 C ulative um Percent 1.0 100.0

Figure 4.19

From the above figures it is pretty clear that Term Deposits of Standard Chartered Bank is not a very popular product . Therefore Standard Chartered will have to make this product more attractive to attract more customers.

Credit Cards Table 4.22

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C redit C ards Frequency 21 79 100 Percent 21.0 79.0 100.0 Valid Percent 21.0 79.0 100.0 C umulative Percent 21.0 100.0

Valid

Yes N o Total

Figure 4.20

While conducting my market survey I found that people were not satisfied with this product of Standard Chartered Bank. Instead they wanted to discontinue with this product as they felt that they were deceived. This was because they were not provided with the right information about how to use the product.

Satisfaction Table 4.23

satisfaction Frequency 33 16 51 100 Percent 33.0 16.0 51.0 100.0 Valid Percent 33.0 16.0 51.0 100.0 Cumulative Percent 33.0 49.0 100.0

Valid

Yes No Not applicable Total

Figure 4.21

From the above data it can be interpreted that people who had their relations with Standard Chartered Bank were pretty much satisfied with Standard Chartered Bank. A majority of the people who were not satisfied with Standard Chartered were those people who were using the credit card of Standard Chartered Bank.

Annual Income/Standard Chartered Bank Table 4.24

Annual Income * Standard Chartered Crosstabulation Count Low Annual Income Dependant Below 2 Lakh Between 2-5 Lakh Above 5 Lakh Standard Chartered Average High 5 6 6 4 15 24 6 16 32 50 Highest 2 1 3 9 15 Total 13 11 44 32 100

Total

2 1 3

Figure 4.22

The above table which shows the rating of people in different income group shows that people whose income is above two lakhs rated Standard Chartered as high which means that they were pretty much satisfied with Standard Chartered Bank.

Occupation/Service Table 4.25

O ccupation * Service C rosstabulation C ount Average O ccupation Student Service Business O thers 1 Service H igh 5 25 10 40 H ighest 8 21 26 4 59 Total 13 47 36 4 100

Total

Figure 4.23

The above data shows that the factor service was very important for the business class and the service class people. They wanted that service should be up to the mark and they should not face any problems because it leads to irritation.

SWOT ANALYSIS
Strengths
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1. Diversity, resilience and flexibility. 2. Multinational Bank with a good financial backup from the UK. 3. Quality service is assured if one has a banking relationship with Standard Chartered Bank 4. Four free transactions from ATMs of any bank plus unlimited access to ATMs of Standard Chartered Bank across the country in a month. 5. Good infrastructure & good incentives for the result oriented employees. 6. Large number of branches in Metros. 7. Strong sales team who are recruited through tough interviews.

Weakness
3

1. Number of Standard Chartered ATMs is less than its close competitors. 2. Average quarterly balance is comparatively higher than most of its competitors. 3. Penalties are higher for non-maintenance of average quarterly balance, cheque bouncing, etc. 4. Bank charges are high (Demand draft, pay order charges). 5. Customer of middle income group hesitates to start a relationship with Standard Chartered Bank.

Opportunity
1. Explore the market with Parivaar account. 2. Lot of scope for product variation. 3. Tap the middle income group and the salaried class. 4. Lot of scope for growth in the Indian market.

Threats
1. ATM infrastructure of its competitors. 2. Players have similar strategies. 3. There is not much differentiation between the services and products of other banks.

FINDINGS
Findings from secondary data:Multinational Banks
The number of branches of Standard Chartered bank are the highest among all the multinational banks surveyed. It has 68 branches in metro and 83 all over in India. While the number of ATMs of Citi bank is highest at 376. All the banks provide ATM cards while there are some charges for it. For Standard Chartered bank it is Rs. 200 p.a., for ABN Amro it is Rs. 200 p.a., for Citi bank it is Rs. 100 p.a. and for HSBC it is Rs. 150 p.a. The customers of these banks have the facility to access the ATMs of other banks but have to pay the following charges For Standard Chartered customers it is free for first 4 transactions in a month and then the charges are Rs. 50 per transaction. For ABN Amro customers, it is free for first 2

transactions in a month and then the charges are Rs. 40 per transaction. For Citi bank and HSBC customers the charges are Rs. 50 per transaction. All the banks provide locker facility. Standard Chartered bank charges Rs. 2000 p.a. while other banks offer this facility free of cost. The bank timings of all the banks are almost the same. Except for HSBC, all the three banks provide Sunday banking as well. Standard Chartered bank provide 24 hours banking also. The minimum balance for the savings account is Rs. 10,000 and if the customer does not maintain this minimum balance, he has to bear some charges. For Standard Chartered customers it is Rs. 750 per quarter, for ABN Amro customers, it is Rs.200 to Rs.1800 per month, for Citi bank customers, it is Rs.250 per month and for that of HSBC customers, it is Rs. 300 per Quarter. Cash withdrawal per day for Standard Chartered bank is Rs.25,000, for ABN Amro Rs.25000- Rs.1,00,000, for Citi bank Rs.50,000 and for HSBC Rs.25,000. Cash transaction from non-branch is provided by all the banks. Multicity branch banking, national clearing, speed clearing, phone banking, internet banking, mobile banking, priority banking and DMAT facility is provided by all the banks. Doorstep banking which was first introduced by Standard Chartered bank is provided by all the banks now. Banks have there different charges for cheque pick up, cash pickup and cash delivery depending upon the amount.

Private Sector banks

The number of branches of HDFC in metro cities is the highest at 194 and all over India, ICICI has maximum number of branches and ATMs at 508 and 1910 respectively. All the banks provide ATM cards but have their respective charges such as for ICICI Rs. 99 p.a., for HDFC Rs. 100 p.a., for AXIS Rs. 150 p.a. and for IDBI Rs.100 p.a. The customers can has the advantage of accessing other banks ATMs also but they have to bear some charges. For ICICI the charges are Rs.50 per transaction, for HDFC Rs.50- Rs.100 per transaction, for AXIS and IDBI Rs.50 per transaction. Locker facility is available with all the banks. ICICI has a charge of Rs. 750 p.a. while other banks provide this facility for free. Bank timings of all the banks are almost the same. HDFC provides Sunday banking but 2 hours banking is not provided by any of the banks. The average balance of saving account is Rs.5000 and in case of nonmaintenance of this balance, the customer is charged. For ICICI the charges are Rs.300 per quarter, for HDFC it is Rs.150 Rs. 500 per month, for AXIS it is Rs. 200 per month and for IDBI it is Rs. 100 per quarter. The cash withdrawal per day for ICICI customers are Rs.15,000, for HDFC is Rs. 15,000, for AXIS is Rs. 20,000 and for IDBI is Rs. 25,000. All the banks provide facilities like Multicity branch banking, phone banking, internet banking, mobile banking, national clearing, speed clearing and priority banking. DMAT facility is provided by all the banks except IDBI. Doorstep banking is provided by all the banks but AXIS and IDBI provide this facility only to its priority customers. Banks have their own charges for cash pickup, cheque pickup and cash delivery. 1

Findings from primary data:When we consider the demographic factors, the following are the findings:People falling under the age group of 20 years to 60 years constitute the major proportion of customers of Multinational banks and private sector banks. The percentage is 66. The customers of Multinational banks and private sector banks are basically from service class which constitute 47 percentage and business class which constitute 36 percentage. The majority customers of multinational and private sector banks have their annual income above 2 lakhs and they form 76 percentage of the people surveyed.

When we consider the factors affecting banking habits of people, these are the findings:People rated location as an important factor. 89 percentage of the population surveyed were in favour of this. Only 51 percentage people said that ambience is an important factor in selecting a bank while others believe that this factor does not really matter much as they hardly have to visit bank.

Timings is again not considered as an important factor as people believe that almost every bank has the same timing. 58 percentage people supported this factor. Same is the case with the products offered. People say that almost every bank offer same type of products so only 64 percentage people rated this as an important factor. Information was rated as an important factor as people believe that they should have the right information about the products and services that the banks offer. Service is the highest rated factor. 99 percenatge of the people say that the kind of service the bank offers influences their decision to select a bank to a great extent. When we consider the rating of banks both multinational an private sector bank, these are the views of the customers:-

Multinational banks

HSBC is the most rated bank among all the multinational banks and the customers are very much satisfied with the services provided by the bank. 94 percentage of the people are satisfied with the services of this bank. People rated Standard Chartered bank, ABN Amro and Citi bank as above average which means people form good opinion about these three banks and people in favour of these three banks formed 65 percentage , 62 percentage and 70 percentage of the population surveyed. Customers of these banks are satisfied.

Private sector banks

Customers carry a mixed response about the services provided by ICICI bank and 72 percentage of the people are in favour of the bank. Customers of HDFC bank are not satisfied with the bank as they say they have to wait in long queue and there is non availability of 3 rd party. 67 percentage people rated it as an average bank. IDBI does not have much customers and moreover its customers are not satisfied with the services of the bank. 76 percentage people rated it as an average bank. Services provided by Standard Chartered bank and customer satisfaction:Customers holding savings account in this bank are very much satisfied and form 45 percentage of the people. But customers of current account, term deposit and credit cards are very dissatisfied. Customers satisfied with these products constitute only 7

percenatge, 1 percentage and 21 percentage respectively of the population. When the total population is considered, people who are already Standard Chartered customers, among them 67 percentage people are satisfied with the products and services of the bank while others are dissatisfied and this dissatisfied customer constitute basically customers of credit cards.

RECOMMENDATIONS
These are few recommendations which can help Standard Chartered Bank to stay ahead in the competition. Brand building: Standard Chartered needs to build a good brand image by providing innovative products and top class services accordingly with their products. Improve its Services: There are many people who were not too much satisfied with the services provided by Standard Chartered Bank. The services provided by the other multinational banks in India are much better as compared with Standard Chartered, therefore Standard Chartered strongly needs to improve its services in order to compete with the other multinational and private sector banks in India. Standard Chartered Bank should install a number of offsite ATMs to make its presence felt in area where it has low or no presence at all. 3

 Understand challenges that Standard Chartered Bank is facing from the competition and also analyze and understand the future prospects and use it to understand the opportunities and threats facing the business and the factors driving success. Get insight into performing better in the market. Pinpoint growth sectors and identify factors driving change. Identify market and brand leaders and understand the competitive environment. Identify the needs of the various segments of its consumers: For example, a senior citizen might opt for a higher-cost MNC bank simply because it offers free home pick-up and delivery of even small-value cheques. A businessman would like a bank that offers a sweep facility.

Recommendations Credit Cards

Unmet Needs
It includes some benefits which are not currently being offered by the credit card industry and hence becomes an opportunity.

Need for a customized Card for Internet transactions:

Business is rapidly growing over the Internet so there exists a great need for a card that is suitable for transacting safely and conveniently over the Internet. The growing number of Internet users will provide a lucrative market for this product. 3

Need for Premium benefits:

Even though the premium segment includes credit cards, there is a dearth of premium benefits under it. An example of these are Special airport Lounges. These benefits are available to the Indian consumer only when he goes abroad, but when he is in India, he doesnt get all the extra premium benefits which are associated with Premium cards.

Proliferation of ATMs:
The credit card can be used by a customer to withdraw cash from an ATM. This revolving credit facility also turns out to be a major revenue earner for the issuing bank (interest charges range from 1.99 % to 3 % per month). There are many ATMs in the metros but only a few in most non-metro cities. The lack of the ATMs doesnt allow the credit card to be used to its potential.

CONCLUSION
Service with a smile: in todays banking sector, a customer will settle for nothing less. He realizes, somewhat belatedly, that he is a king. He demands from banks not just world-class products and services, but a red carpet as well. His choice of one entity over another as his principal bank is determined by considering service quality rather than any other factor. He wants competitive loan rates on one hand and on the other he also wants his loan or credit card application processed in double-quick time. He insists to be promptly informed of changes in deposit rates and service charges, and he bristles with customer rights if his bank is slow to redress any grievance he may have. He cherishes the convenience of impersonal internet banking, but he wants that when he is on a visit to the branch, he has full comfort of personalized behavior with human interactions and facilities that make his banking experience pleasurable. In short, he wants a financial house that will not just clear his cheques and update his passbook but that the bank cares and for more than just as a customer. Therefore, he wants a customer-friendly bank.

Service Quality
The overall service standards of a bank is what makes a bank customer-friendly and is rated for ease of opening an account, how courteous, accessible and knowledgeable its staffs are, transaction time taken for services, how innovative the bank is in introducing new products and services, how proactively the bank informs customers about the changes in deposit rates or service charges, how quickly it redresses grievances of its customers, how likely it is to retain customers, and how probable it is that its customers will recommend the bank to others.

Branch Facilities
Any branch of a multinational or leading Indian private bank is no less than a plush country club. While many other banks, of course, have miles to go in this sphere, but there is a growing realizations among them that offering a pleasant banking ambience with comfortable seating, air-conditioning, restroom and drinking water facilities and easy access to bank stationery makes a good business.

ATM Service
ATM Service has automated the most common day-to-day banking transactions like cash withdrawal, cheque deposits and statement generation and has liberated customers from time wasting branch visits and surly staff.

Banks are increasingly waking up to the merits of an expansive, glitch-free ATM network. Banks are investing highly in technology (read newer machines), so theyll be fewer card rejects. And theyre entering into tie-ups with one another in order to share their ATM network (for a nominal fee which the customer has to pay); which means the customer no longer has to bear the agony of having to stand in overlong queues at the banks ATMs.

Market Potential
With a growing national economy, the financial-sector reforms and a growing middle class group, the Indian market offers huge potential for Standard Chartered Bank to grow and expand. The large and growing middle class population and increase in disposable incomes have created booming markets for housing, motor, televisions, computers, mobile phones and many other products, most of which require financing. SCB has been very effective in grasping this opportunity with its product and service offerings.

The Road Aheadfor SCB

After offering its 150 years of service to India, Standard Chartered Bank continues to be committed to the country and optimistic in contributing to the Indian Financial Sector. The Standard Chartered Group considers India as one of its greatest economic opportunity in the 21st century and is proud to be so strongly positioned here. The Bank has striving plans to transform its business in the country in the future and plans to further expand its operations across the country 2

QUESTIONNARE
1. Your criteria for choosing a particular bank: (Please tick the appropriate box, 1- lowest 2 -low 3- average 4 high and 5 the highest)
4

Rating Scale Features 1. Location 2. Ambience 3. Timings 4. Products Offered 5. Clarity of Information 6. Service

2. Rate the following banks on a scale of 1 to 5 of satisfaction level. (Please tick the appropriate box, 1 being the lowest and 5 the highest) Rating Scale Bank 1.Standard Chartered 2. Citibank 3. ABN Amro 4. HSBC 5. HDFC 6. ICICI 7.IDBI 1 2 3 4 5

3. Any other facilities not provided by your current bank? ____________________________________________________ ______

4. Do you have relationships with other banks, if yes, please specify (a) Standard chartered Bank (b) ABN AMRO (c) HSBC (d) Citibank (e) HDFC (f) ICICI (g) IDBI (h) Others... 5. Type of services availed in the above mentioned bank. Bank Services 1.Saving A/c 2.Current A/c 3, Term Deposit 4. Credit cards 5. Loans 6.Insurance 7. Locker SCB ABN HSBC Citibank HDFC ICICI IDBI AMRO

For Standard Chartered Customers only 1. What facilities are you availing in Standard Chartered Bank? a) Saving A/c b) Current A/c c) Term Deposits d) Credit cards e) Loans f) Insurance g) Locker h) Others .. 1. Are you happy with the current services and products being offered at Standard Chartered Bank? a) Yes b) No

2. How many times do you use ATMs in a month? a) 1-4 times b) 5-10 times c) more than 10 times d) Never

Personal Details 1.Name __________________________________________________ 1. Age a) Below 20 years c). 40 60 years 2. Sex a) Male b) Female b) 20 40 years d) Above 60 years

3. Marital Status a) Married b) Single 4. Occupation a) Student c) Business ______________________ b) Service d) Others

5. Annual Income a) Below Rs 2, 00,000 p.a. b) Between Rs 2, 00,000 & 5, 00,000 c) Above 5, 00,000 6. Contact Number/Email _______________________

BIBLIOGRAPHY
1. Internet Sites www.google.com www.economictimes.com www.standardchartered.co.in www.hsbc.com www.abnamro.com www.hdfcbank.com www.icicibankom www.indiainfoline.com

2. Magazines and Newspapers. Economic Times Business India Business Standard The Times Of India

1. Books Name of the author - Philip Kotler, Name of the book Principles of Marketing, Publisher Asoke K. Ghosh, Year 2006 Name of the author Naresh K. Malhotra, Name of the book Marketing Research, Publisher Asoke K. Ghosh, Year - 2007 4. Product Manual, Standard Chartered Bank