Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
BY
NAVJOT SINGH
BBA SEM V
UNIVERSITY ROLL NO:
1
DECLARATION
The preparation of the project report is based on my personal findings, several visits
to the organization, interaction with the officials employees customers and
consultation with the eminent scholars and secondary sources. The contents
provided are true to the best of my knowledge and belief.
NAVJOT SINGH
2
ACKNOWLEDGEMENT
No project is ever a work of only one person and this one is no exception
This project is the product of many hands and countless hours from many people.
My thanks go out to all those who helped, whether through their comments,
feedback or suggestions.
I am heartily thankful to J&K Bank, Miran Sahib, Jammu for providing me the
opportunity to carry out the project tainting. I take this opportunity to express my
sincere gratitude to our principal Nusrat Khan for being guide, a true mental and
philosopher throughout B.B.A program.
There is still a debt I owe to my parents, fiends, all well wishers who were directly
or indirectly involved in making this projects realty.
NAVJOT SINGH
3
PREFACE
Promotional strategy formulation depends upon the every aspect of related terms and
marketing research plays vital roles to connect each compartment to form a cohesive
functional unit.
The motivation behind the project was to gain clear understanding about marketing
research. Through this project I have tried to understand the complexities involved
in gathering of data for drawing inferences. The final objective to be produced is
accurate, useful and free from bias. The project has been presented in a simple
format.
4
INDEX
1 AN OVERVIEW 01 02
2 INTRODUCTION TO THE 03 12
COMPNAY
3 INTRODUCTION TO THE 13 27
TOPIC
5 RESEARCH METHODOLOGY 30 37
INTERPRETATION
5
7 LIMITATIONS 62 63
8 CONCLUSION 64 66
9 FEEDBACK 67 68
11 BIBLIOGRAPHY 71 72
12 ANNEXURE 73 77
6
AN OVERVIEW
7
AN OVERVIEW
The banking as it exists today is the result of the transformation that has taken place over
many centuries .Throughout the globe; banking has been in the existence in the one form or
the other. The word bank is said to be of Germanic origin, cognate with the French word
banque & the Italian word banca, both meaning bench .It seems word may have derived
its meaning from the practice of Jewish money changers of Lombardy ( a district in North
Italy),who, in the middle ages, used to do business sitting on benches in the market place.
The history of origins of banks is traceable in Asian times. The New Testament contains a
reference of the activities of the money changers in the templates of Jerusalem. As early as
2000 BC, the temples Babylonia were used as banks & priests acted as financial agents until
the public lost confidence as a result of this belief in religion. In ancient Greece, the famous
Delphi & Olympia served as the great depositories for the surplus funds of the public & were
the main centers of money lending business. The traces of the credit by compensation & by
the transfer orders are found in Assyria, Phoenicia & Egypt before the growth of the system
in its full form in the Greece & Rome.
8
INTRODUCTION TO
THE COMPANY
9
History Of Jammu And Kashmir Bank
Founded 1938
Employees 7267
Website http://www.jkbank.net
The Jammu & Kashmir Bank was founded on October 1, 1938 under letters patent issued by
the Maharaja of Kashmir, Hari Singh. The Maharaja invited eminent Kashmiri investors to
become founding directors and shareholders of the bank, the most notable of which were
Abdul Aziz Mantoo, Pesten Gee and the Bhagat Family, all of whom acquired major
shareholdings.
10
The Bank commenced business on July 4, 1939 and was considered the first of its nature and
composition as a State owned bank in the country. The Bank was established as a semi-State
Bank with participation in capital by State and the public under the control of State
Government.
The bank had to face serious problems at the time of independence when out of its total ten
branches two branches of Muzzafarabad, Rawalkot and Mirpur fell to the other side of the
line of control (now PoK Kashmir) along with cash and other assets. Following the extension
of Central laws to the state of Jammu & Kashmir, the bank was defined as a government
company as per the provisions of Indian companies act 1956.
The Jammu & Kashmir Bank is considered as one of the fastest growing banks in India with
a network of more than 500 branches/offices spread across the country offering world class
banking products/services to its customers. Today, the Bank has a status of value driven
organization and is always working towards building trust with shareholders, customers,
borrowers, regulators, employees and other diverse stakeholders, for which it has adopted a
strategy directed to developing a sound foundation of relationship and trust aimed at
achieving excellence, which of course, comes from the womb of good corporate governance.
Good governance is a source of competitive advantage and a critical input for achieving
excellence in all pursuits. J&K Bank considers good corporate governance as the sine qua
non of a good banking system and has adopted a policy based on all the four pillars of good
governance transparency, disclosures, accountability and value.
According to the extended central laws of the state, Jammu & Kashmir
bank was defined as a Government Company as per the provision of Indian Companies Act
1956. In the year 1971, the bank received the status of scheduled bank.. It was declared as
A class bank by RBI in 1976.
1993-94:- The bank tied up with Reuter news agency for instantaneous information
about global foreign currency rates & fluctuations thereof.
1995:- The banking Ombudsman scheme was launched in June, with a view to
provide quick & inexpensive facility to resolve the grievances of banks customers.
1998:- J&K bank limited is coming out with a public issue of 18500000 equity shares
of Rs10 each for cash at a premium of Rs 28 per share aggregating Rs 70.30 crores.
11
1999:- The bank entered into an agreement with IBA to connect its ATMs through a
share network.
2000:- J&K bank has tied up with INFOSYS technologies to offer Internet banking
for its e- commerce initiatives.
2001:- The bank has launched J&K bank- AMEX Co. Branded Credit card pursuant
to agreement entered with American Express Bank.
The bank has tied up with the US based insurance giant, METLIFE for the proposed
foray in the insurance sector.
2003:- J&K bank has strengthened its bond with INFOSYS by successfully deploying
FINACLE Core banking.
J&K bank has decided to launch GLOGAL ACCESS CARD (an international Debit
Card) in association with MASTER CARD INTERNATIONAL).
2004:- J&K bank approves Rs300 crores for Reliance Infocom.
J&K bank ties up with ICICI Bank to share ATM networks.
J&K bank signs MoU with BAJAJ Tempo.
IDBI bank ties up for Visa transaction with J&K bank to launch a platform for the
states merchant establishment.
2006:- J&K bank receives approval from RBI for increasing the FIIs holding.
2007:- J&K bank limited has appointed Mr. M S Verma (Ex chairman, State bank of
India) & Mr. G P Gupta (Ex chairman and Managing Director, IDBI) as Directors of
the bank in the meeting of the board of directors held on June-9-2007.
Today the bank has more than 580 branches across the country and has recently become a
billion dollar company and has status of a value driven organization and is always towards
building trust with shareholders employees, customers, borrowers, regulators & other diverse
stakeholders for which it has adopted a strategy directed to developing a sound foundation of
relationship & trust aimed at achieving excellence, which of course, comes from the womb of
good corporate governance. Good governance is a source of competitive advantage and a
critical input for achieving excellence in all pursuit. Jammu & Kashmir bank considers good
corporate governance- transparency, disclosures, accountability and value, enabling it to
practice trusteeship, transparency, fairness and control, leading to stakeholders delight,
enhance shareholder value & ethical corporate citizenship. It also ensures that bank is
managed by an independent and highly qualified board following best globally accepted
12
practices, transparent disclosures and empowerment of share holders, besides ensuring to
meet share holders aspirations and societal expectations following the principals of
managements executive freedom to drive the bank forward without undue restrains but
within the framework of effective accountability. The excellence achieved by the bank in its
operations stemming from the root of voluntary good governance has not gone unrecognized
and bank has recently bagged three prestigious awards for following fair business practices
and commitment to social obligations.
13
Government Ownership: An Advantage
J&K Bank has a unique competitive advantage stemming from its government ownership.
Besides access to low cost of funds, bring the banker both the J&K government, all
government funding is routed though J&K bank.
Mission have been set to remain a financially strong, sound, growth oriented and profitable
bank with main focus towards providing convenient, reliable, cost effective and personalized
services to all its customers and globally competitive and foray with the business of banking.
The objectives of bank shall provide Value Maximization to all its share holders i.e. its
customers and employees.
Understanding the needs of customers and offering them superior products and service.
Leveraging technology to service customers quickly, efficiently and conveniently.
Providing an enabling environment to foster growth and learning for our employees.
And above all, building transparency in all our dealings.
The success of the company will be founded in its unflinching commitment to 5 core
values
Integrity,
Customer First,
Boundary less,
Ownership and
Passion.
Each of the values describes what the company stands for, the qualities of their people and
the way they work.
14
Company Profile
15
Unique Characteristics
M A Road M A Road
www.jkbank.net
16
Products & Services
Support Services:-
Anywhere Banking
Internet Banking
SMS Banking
ATM Services
Debit Cards
Credit Cards
Merchant Acquiring
Depository Services:-
Demat Account
Other Services
17
Brand Identity
The new identity for J&K bank is a visual representation of the Banks philosophy and
business strategy. The three colored squares represent the regions of Jammu, Kashmir &
Ladakh. The counter form created by the interaction of the squares is a falcon with
outstretched wings- a symbol of power & empowerment. The synergy between the three
regions propels the bank towards new horizons. Green signifies growth and renewal, blue
conveys stability and unity. Red represents energy and power. All these attributes are
integrated and assimilated in the white counter-form.
18
INTRODUCTION TO
THE TOPIC
19
Customers
There is no statutory definition of customers. The word customer appears in sec.131 of the
negotiable instruments, 1881 but it is not defined therein. Obviously, a reference has to be
made to the opinion expressed by eminent authorities on banking as also to the decided cases
in order o appreciate the interpretation of what connotes a customer.
Thus, a person is not regarded as a customer of the bank immediately on opening an account
and the duration of dealings between the banker and the customer is the deciding factor as to
whether a particular person would be deemed to be a customer or not.
A person becomes a customer of a bank when he goes to the bank with money or a
cheque and asks to have an account opened in his name and the bank accepts the money or
cheque and is prepared to open an account in the name of that person, after that he is entitled
to be called a customer of the bank.
The quality of customer satisfaction in J&K bank has to be high as they are established
primarily to fill the existing gaps in banking and credit needs in urban and semi urban areas.
Meeting the legitimate aspiration of its customers will enable the bank to maintain its image,
create confidence and extract funds comparatively at low cost. RBI had set up a committee
headed by D.Subbarao, the chairman of SBI, to ensure empowerment in the customer service
rendered by banks.
20
Customer Satisfaction
Customer satisfaction, in business terms, is a measure of how products and services supplied
by a company meet or surpass customer expectation. It is seen as a key performance indicator
within business. In a competitive marketplace, where businesses compete for customers,
customer satisfaction is seen as a key differentiator and increasingly has become a key
element of business strategy.
The degree to which customer expectations of a product or service are met, corporate and
individual customers may have widely differing reasons for purchasing a product or service
and therefore any measurement of satisfaction will need to be able to take into account such
differences. The quality of after-sales service can also be a crucial factor in influencing any
purchasing decision. More and more companies are striving, not just for customer
satisfaction, but for customer delight, that extra bit of added value that may lead to increased
customer loyalty. Any extra added value, however, will need to be carefully costed.
Organizations are increasingly interested in retaining existing customers while targeting non-
customers; measuring customer satisfaction provides an indication of how successful the
organization is at providing products and/or services to the marketplace.
Customer satisfaction is an ambiguous and abstract concept and the actual manifestation of
the state of satisfaction will vary from person to person and product/service to
product/service. The state of satisfaction depends on a number of both psychological and
physical variables which correlate with satisfaction behaviours such as return and recommend
rate.
The level of satisfaction can also vary depending on other options the customer may have and
other products against which the customer can compare the organization's products.
Because satisfaction is basically a psychological state, care should be taken in the effort of
quantitative measurement, although a large quantity of research in this area has recently been
developed. Work done by Berry (Bart Allen) and Brodeur between 1990 and 1998 defined
ten 'Quality Values' which influence satisfaction behaviour, further expanded by Berry in
2002 and known as the ten domains of satisfaction. These ten domains of satisfaction include:
21
Quality, Value, Timeliness, Efficiency, Ease of Access, Environment, Inter-departmental
Teamwork, Front line Service Behaviours, Commitment to the Customer and Innovation.
These factors are emphasized for continuous improvement and organizational change
measurement and are most often utilized to develop the architecture for satisfaction
measurement as an integrated model. Work done by Parasuraman, Zeithaml and Berry
(Leonard L) between 1985 and 1988 provides the basis for the measurement of customer
satisfaction with a service by using the gap between the customer's expectation of
performance and their perceived experience of performance. This provides the measurer with
a satisfaction "gap" which is objective and quantitative in nature. Work done by Cronin and
Taylor propose the "confirmation/disconfirmation" theory of combining the "gap" described
by Parasuraman, Zeithaml and Berry as two different measures (perception and expectation
of performance) into a single measurement of performance according to expectation.
According to Garbrand, customer satisfaction equals perception of performance divided by
expectation of performance. The usual measures of customer satisfaction involve a survey
with a set of statements using a Likert Technique or scale. The customer is asked to evaluate
each statement and in term of their perception and expectation of performance of the
organization being measured.
22
Types Of Deposit Products
Our bank provides diverse range of deposit products to meet expectations and requirements
of different customer segments and add value to them. The deposit products offered by the
bank are assigned different names and can be categorized broadly into the following types.
Definition of major deposit schemes is as under:
Saving Account
23
years.
Option No III: 10 years but scheme runs for 20
years.
Payment
Allowed.
before
maturity
Loan
against
90% of the amount accumulated at the completion
deposit
of first phase.
24
Mehandi Deposit
25
Amount to be Amount
Period
deposited (Rs) payable (Rs)
Payment
Allowed.
before
maturity
26
Global Access Card
27
Transactional On MasterCard Based Other Bank ATM's (per
Charges Transaction)
International Financial
Rs.100
Transaction
28
Credit Card
29
Credit Limits Blue Empowerment Card- Upto
Rs.25,000.00
Silver Empowerment Card-Upto
Rs.50,000.00
Gold Empowerment Card-Upto
Rs.1,00,000.00
Internet Banking
Corpor Both corporate and retail clients can access their accounts anytime and from
ate any location via the World Wide Ib. Presently following services are
Interne available to the corporate clients:
t
Access/view of accounts
Bankin
Transfer of Funds between self linked accounts maintained with our
g
bank.
Transfer of Funds from their own accounts to external accounts (e.g.
30
Vendor payment)
Transfer of Funds from external to own accounts (e.g. dealer
collection).
Transfers of Bulk upload.
Transfer to non J&K Bank account holders through RBI NEFT.
Transfer of non-standard bills.
Utility bill payments.
Request for DD/PO, Chequebook, stop payment, opening of fixed
deposit and letter of credit.
31
e- NSDL (National Securities Depository Ltd.), the first and largest
Paymen depository in India, established in August 1996 and promoted by
t of institutions of national stature responsible for economic development
Tax for of the country has since established a national infrastructure of
JK international standards that handles most of the securities held and
Bank settled in dematerialised form in the Indian capital market. Tax
E- Information Network (TIN), a repository of nationwide tax related
bankin information, has been established by National Securities Depository
g Limited on behalf of Income Tax Department of India (ITD)
custom
Although India had a vibrant capital market which is more than a
ers
century old, the paper-based settlement of trades caused substantial
problems like bad delivery and delayed transfer of title till recently.
32
OBJECTIVES OF THE
STUDY
33
Objectives Of The Study
The objectives of the present study, undertaken to review the customer services in J &K
Bank are:-
To examine the experience and expectations of the customers regarding deposit
products & financial services of J&K Bank.
To inquire into the reasons for the customers happiness and dissatisfaction with the
services provided by J&K Bank regarding deposit products & financial services.
34
RESEARCH
METHODOLOGY
35
Research
Research is a systematic and continuous method of defining a problem, collecting the
facts and analyzing them, reaching conclusion forming generalizations. It is the systematic
and objective identification, collection, analysis, dissemination, and use of information for
the purpose of assisting management in decision making, by the identification of solutions to
problems and opportunities.
As per Websters 20th century dictionary, Research is defined as a careful patient,
diligent enquiry or examination in some field of knowledge undertaken to establish facts or
principles.
Research Methodology
As the term suggests, conclusive research is meant to provide information that is useful in
reaching conclusions or decision making. The purpose of the conclusive research is to
provide a reliable or representative picture of the population with valid research
instrument.
Descriptive research describes data and characteristics of the population being studied.
Descriptive research answers who, what, where, when, and how. The descriptive design
deals with facts and characteristics concerning with individual respondents.
Research Design:
Research design is the plan, structure and strategy of investigation conceived so as to obtain
answers to research can be called fact oriented; it may be defining hypothesis, it may suggest
36
new opportunities, such that we had carried exploratory research that covers the survey of
individuals with interview. Typically, a research design involves the following components,
or tasks:
Defining the information needed.
Designing the research.
Specifying the measurement and scaling procedures.
Constructing and presenting a questionnaire or an appropriate form for data
collection.
Specifying the sampling process and sampling size.
Developing a plan of data analysis.
37
-Type of research design
-Research tools
Data Collection
After the research problem in marketing has been identified and selected, the next step is to
gather the requisite data. At this stage, there is much temptation among the researchers to
organize the field survey to collect the data. While a field survey may be necessary for data
collection, it should be resorted to only when all other sources of data collection have been
exhausted.
Process Of Data Collection:
There are two basic types of data: Secondary & Primary.
1)Secondary Data:
Secondary data is one which is already collected by individuals or organizations which is
either published or unpublished. In other words, it is readily available in various forms & the
researcher is to pick & choose the extent & relevance to his needs. Thus, secondary data
represent the existing information which may be available from internal records or external
records.
Indexes
Guides
Directories & so on.
2)Primary Data:
Primary data is one which is collected details regarding his research problem. Primary data is
the first hand data collected by means of observation & communication. In majority of cases,
38
researchers will have to go in for primary data in addition to secondary data. The experts
have expected two basic methods or means of getting the primary data namely
Communication & Observation.
1) Communication Method: Communication involves the questioning the selected
respondents to get the detailed desired information using a questionnaire.
Questionnaire
Interviews, etc.
2) Observation Method: Observation is the process of observing the respondents about
their current behaviour where no questions are asked & their observed behaviour or
reaction is recorded.
Questionnaire
Sample Size
39
DATA ANALYSIS &
INTERPRETATION
40
Data Analysis & Interpretation
Managers need information, not raw data. Research helps in generating information
by analyzing data after its collection. Data analysis usually involves reducing accumulated
data to a manageable size, developing summaries, looking for patterns and applying statistical
techniques. Scaled responses on questionnaires and experimental instruments often require
the analyst to derive various functions, as well as to explore relationships among variables.
In various cases when we deal with statistics we find that the variables are related to
each other or we can also say two variables seem to move in the same direction such as both
are increasing or decreasing or even some factors tend to move in the opposite direction also
means one is increasing and the other is decreasing. Analysis has been done by applying
various statistical tools to study the basic factors that lead to Job satisfaction among Job
Work Assignees.
41
Age of respondents
Age % of Respondents
Less than 20 2
20-40 years 63
40-60 years 25
60-80 years 6
Respondents
2%
6% 4%
Interpretation
Most of the customers of the bank are within the age group of 20-60.
42
Gender
Gender % of Respondents
Male 75
Female 25
Respondents
Female
25%
Male
75%
Interpretation
43
Profession
Profession % of Respondents
Business 44
Salaried 19
Student 22
Others 15
Respondents
15%
44% Business
22%
Salaried
Student
19% Others
Interpretation
Most of the customers of the bank are from the business class.
44
Questions Asked Through Questionnaire
Respondents
7
21
Inte 18 Less than 1 year
rpr 1-3 years
3-5 years
etat
5-7 years
ion More than 7 years
30 24
This
sho
ws that out of 150 respondents, Most of them were the customers of the for more than 5
years.
45
Q2. Are you aware of the any/ all of the deposit products?
Respondents
SB Ujala
12%
23% Child Care Deposit
Mehandi Deposit
27%
16% Smart Saver
Flexi Deposit
11% 11%
Recurring Plus
Interpretation
Very few were aware of these deposit products and out of these, most of them were aware of
child care deposits.
46
Q3.What type of deposit products services you access with J&K bank?
Respondents
21
Saving Account
Current Account
18 Fixed Deposit
Recurring Deposit
90
Interpretation
This shows that savings account is the most accessible and popular deposit product among
the customer and Recurring Deposit is the least.
47
Q4. How would they rate that particular services being provided by the J&K bank?
Ratings % of Respondents
Excellent 24
Good 62
Average 11
Poor 2
Very Poor 1
Respondents
2% 1%
11% 24%
Excellent
Good
Average
62% Poor
Very Poor
Interpretation
This shows that most of the customers are happy with the services provided by J&K Bank
and they rate the services as good.
48
Q5. Are you aware of the following financial services of the J&K bank?
Respondents
20%
Internet banking
48% Credit card
Depository networks
Debit/atm card
28%
4%
Interpretation
Most of the customers were aware of Debit/ATM Card and very few were aware of
depository networks.
49
Q6. Do you access any of the above mentioned financial services of the J&K bank?
Respondents
27%
Yes
No
73%
Interpretation
Out of 150 respondents, only 110 respondents are accessing these financial services.
50
Financial services % of Respondents
Internet banking 3
Credit card 10
Depository networks 0
Debit/ATM card 87
Respondents
3
10 0
Internet banking
Credit card
Depository networks
Debit/ATM card
87
Interpretation
51
Q7. Have you face any sort of difficulty while using any of the financial services?
Respondents
18%
Yes
No
82%
Interpretation
Out of these 110 respondents, 90 of them do not face any sort of difficulty while using these
financial services while 20 of them are facing some sort of difficulty.
52
Q8. Does information about the latest offers/interest rates of the deposit products & financial
services of bank easily accessible?
Respondents
42%
58% Yes
No
Interpretation
Out of 150 respondents, 63 respondents agreed that the information about the latest
offers/interests rates is easily accessible while 87 dont agree with this.
53
Sources Of Awareness
Respondents
0% 11%
39% Advertisements
Employees
Sale representatives
Others
50%
Interpretation
54
Q9. Whether the formalities required for opening an account in J&K bank are easy to fulfil?
Respondents
16%
Yes
No
84%
Interpretation
Out of 150 respondents, 126 of the respondents agreed that the formalities required for
opening of the account are easy to fulfil while 24 of the respondents do not agree with this.
55
Q10. Are the rate of interest on deposit/advances are competitive & upon your satisfaction?
Yes 83
No 17
Respondents
17%
Yes
No
83%
Interpretation
Out of 150 respondents, 124 of the respondents favours that interest rates are competitive &
upon their satisfaction.
56
Q11. What type of charges levied by the bank for the financial services provided by them?
Respondents
29
Cheaper
Competitive
Affordable
42
Costly
22
Interpretation
Most of the customers find the charges levied as cheaper and affordable.
57
Q12. Does holding your deposit account to your nearest J&K bank enhance your satisfaction?
Respondents
17%
Yes
No
83%
Interpretation
Out of 150 respondents, 125 of the respondents agrees that holding their deposits to their
nearest J&K bank branch enhance their satisfaction while 25
were not of the same opinion.
58
Q13. How would you rate the employees on helpfulness, in other words willingness to help
you?
Respondents
3% 2%
21%
23% Excellent
Good
Average
Poor
Very Poor
51%
Interpretation
59
Q14. Do you want to see any change or improvement in the product & services?
Improvements % of Respondents
Increase in number of atms 63
Connectivity 31
Increase in the credit limits 26
Automatic renewal of fixed deposits 51
Respondents
Increase in number of atms Connectivity
Increase in the credit limits Automatic renewal of fixed deposits
51
63
26
31
Interpretation
Out of 150 respondents, each person responds to more than one option.
94 of the respondents want increase in the number of ATMs.
47 of the respondents want improvement in the connectivity of branches/ transaction
failure.
39 of the respondents want increase in the credit limits.
77 of the respondents want automatic renewal of fixed deposits.
60
Q15. Are they satisfied & would they like to continue with J&K bank?
Satisfaction % of Respondents
Yes 96
No 4
Respondents
4%
Yes
No
96%
Interpretation
Out of 150 respondents, 144 of the respondents are satisfied & would like to continue with
J&K bank while 6 of them were not satisfied with the bank.
61
Q16. How likely are you to recommend the deposit products (saving, fixed deposits, etc) and
financial services (internet banking, credit card, debit card, etc) of J&Kbank to your friends
or relatives?
Recommendations % of Respondents
Excellent 24
Good 59
Average 11
Poor 5
Very poor 1
Respondents
Excellent
Good
Average
Poor
Very poor
Interpretation
62
Q17. How would you rate the customer satisfaction level?
Respondents
9% 6%
12%
0 - 20
23% 20 - 40
40 60
60 80
80 - 100
50%
Interpretation
Most of them were satisfied with the bank and its services.
63
LIMITATIONS
64
Limitations Of The Study
Investors sample was very less, so it may not represent the actual results.
The respondent might not respond actual feelings or facts either to demonstrate a
superior status or by being frivolous while filling up the questionnaire.
65
CONCLUSION
66
Conclusion
The success of any service sector organization/ bank depends on the loyalty of the
customers and positive customer service orientation of the staff. The major challenge for
bank today is their capacity to integrate with their national and global counterparts without
sacrificing their own cultural ethos.
The future of the government banks depends upon their capability to provide better
services in terms of variety, quality and cost. The government banks have to realize the
implication of market economy & adjust accordingly. However, the J&K bank will have to
equip itself to meet the challenges of tomorrow banking. With the committed performance,
leadership, professionalization of management, knowledge, skill, adoption of new technology
& positive attitude of employees of the bank, these organizations have a bright future.
Since the J&K bank is now operating in a more competitive environment, the need
for them to take care of customers requwerement has become more urgent. Winning over the
customer loyalty should be the guiding philosophy of the J&K bank. The bank must take
better care of their clients & thus should improve their image & customer satisfaction, & in
the process not loose sight of profit. Customer should be made aware not only of the various
schemes and services offered by the bank, but also the formalities, procedures, legal
requwerements & limitations in the matter of providing services by the bank, through a
proper mix of advertisement, literature, interfaces, seminars, customer meetings, etc.
The bank should involve their employees in all customers education programmes.
Time norms for specified business transaction should be displayed prominently in the
banking hall, so that it attracts the customers attention as well as that of the employees for
adherence. The J&K bank must explore the market and look more closely at customers
expectations and demands, if they have to succeed in the competitive & changed globalize
economic environment.
67
The future of the bank depends upon their capability to provide better service in
terms of variety, quality & cost. It is a matter of great satisfaction for the bank that the vast
majority of rural & urban middle class people & the poor regard the J&K bank, as their own
bank & like to associate with them, if they can provide the optimum economic benefits.
Given sincerity of approach, sound management & customer service, there is a tremendous
scope of bank to grow in the liberalized economy, notwithstanding the competition that is
emerging in the changed economic scenario.
68
FEEDBACK
69
Positive Feedback:-
Customers are satisfied with the services of the bank. According to them, the services
provided by the bank are good and up to their satisfaction.
Employees of the bank are good, cooperative, skilled, well-trained and efficient.
Behaviour of the bank employees is soft and polite.
Work culture is good in the bank
Good location of branches of the bank so that any customer can easily reach to any
branch.
ATMs are also situated along with most of the branches of the bank which provide
comfort and convenience to the customers.
Negative Feedback :-
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FINDINGS &
SUGGESTIONS
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Findings & Suggestions
Most of the customers were male. So bank should motivate female to be the
customers of J&K bank.
Majority of the customers are those who were the customers of the bank for more than
5 years. But the percentage of new customers was very low. So bank should make a
strategy to attract new customers.
Very few of the customers are aware of the different deposit schemes being provided
by the bank. So high level awareness/ advertisements/promotions are needed to be
done in order to promote these deposit schemes/products.
The customers of J&K bank are having no knowledge regarding their Depositary
networks & are having very less information about Internet banking. They should be
made aware through various programmes.
Lack of information accessibility regarding interest rates/new offers is also the major
hurdle in promoting their services. It should be eradicated.
The bank should encourage its employees to be friendly & helpful in their dealing
with customers.
There should be automatic renewal of fixed deposits.
There is still room for the better operations of the financial services.
Number of ATMs should be increased.
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BIBLIOGRAPHY
73
Reference Books
Websites
www.j&kbank.net
www.rbi.org.in
www.business.com
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ANNEXURE
75
Questionnaire
NAME
AGE
SEX Male Female
PROFFESSION
a. Employee
b. Business
c. Student
d. Other
1) How long have you been a customer of J&K bank?
a. Less than 1 year
b. 1 3 years
c. 3 5 years
d. 5 7 years
e. More than 7 years
3) What type of Deposit Product Services you access with J&K bank and please rate the
particular service which you are using?
a. Savings account
Excellent
Good
Average
Poor
Very Poor
b. Current Account
Excellent
Good
Average
Poor
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Very Poor
c. Fixed Deposits
Excellent
Good
Average
Poor
Very Poor
d. Recurring Deposits
Excellent
Good
Average
Poor
Very Poor
4) Are you aware of the following financial services of the J&K bank?
a. Internet Banking
b. Credit Card
c. Depository Networks
d. Debit/ATM Card
5) Do you access any of the above mentioned financial services of the J&K bank?
a. Yes
b. No
If yes, then please mention.......................................
6) Have you faced any sort of difficulty while using any of the financial services?
a. Yes
b. No
If yes, then please mention......................................
7) Does information about the latest offers/ interest rates of the Deposit Products &
Financial services of the bank are easily accessible?
a. Yes
b. No
8) Whether the formalities required for opening an account in J&K bank are easy to
fulfil?
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a. Yes
b. No
9) Are the rates of interest on deposits/advances are competitive and upon your
satisfaction?
a. Yes
b. No
10) What type of charges levied by the bank for the financial services provided by them?
a. Cheaper
b. Competitive
c. Affordable
d. Costly
11) Does holding your deposit accounts to your nearest J&K bank branch enhance your
satisfaction?
a. Yes
b. No
12) How would you rate the employees on helpfulness, in other words willingness to help
you?
a. Excellent
b. Good
c. Average
d. Poor
e. Very Poor
13) Do you want to see any change or improvement in the products and services?
a. Increase in the number of ATMs.
b. Connectivity of branches / transaction failure.
c. Increase in the Credit limits.
d. Automatic renewal of the fixed deposits.
If none of above, then please mention...........................................
14) Are you satisfied and would you like to continue with J&K bank?
a. Yes
b. No
15) How likely are you to recommend the deposit products (savings, FDs, etc) & financial
services (e-banking, credit/debit card) of J&K bank to your friends/relatives?
a. Excellent
b. Good
c. Average
d. Poor
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e. Very Poor
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