SUMMER TRAINING REPORT

On
COMPETITOR ANALYSIS OF LIABILITY
PRODUCTS AND SERVICES OF STANDARD
CHARTERED VS OTHER MNCS

Submitted in partial fulfillment of the

requirements of
Post Graduate Programme (PGP)
By
ALOK AGRAWAL
Batch no. - 2008-10
Roll No. - PG20082795
IILM Institute for Higher Education
DLF Golf Course Road, Gurgaon-122 003
 Declaration
The following summer internship report titled “COMPETITOR ANALYSIS OF
LIABILITY PRODUCTS AND SERVICES OF STANDARD CHARTERED VS OTHER
MNCS” is hereby approved as a certified study in management carried out and presented
in a manner satisfactory to warrant its acceptance as a prerequisite for the award of POST
GRADUATE PROGRAMME IN MANAGEMENT for which it has been submitted.

The material provided in this report is original and has not been submitted anywhere for
any other diploma or degree.

Mr.SANJEEV SHARMA ALOK AGRAWAL

Facility guide Student

IILM IILM
 Acknowledgement
First of all I would like to thank the management at STANDARD CHARTERED for giving me
the opportunity to do my two month project training in their esteemed organization .I am highly
obiliged to Mr. Sanjeev Sharma for her keen & watchful guidance & invaluable suggestions &
way of motivating at every phase of work in the training period & granting me to undertake my
training at Gurgaon Branch in NCR.

I express my thanks to all managers under whose able guidance & direction, I was able to give
shape to my training. Their constant review & excellent suggestions throughout the project are
highly commendable.

“Accomplishment of any task necessarily depends upon the willingness and enthusiastic
contribution of time and energy of many people”

I extend my sincere gratitude and thanks to all employees who gave a helping hand and
cooperated directly and indirectly in the fulfillment of this project and report.

I am grateful to my professor also who has shown this work light of day.

I also feel privileged to extend my unfeigned thanks to all who have extended their cooperation
directly or indirectly in preparation of this report.

With best regards

Alok Agrawal
 TABLE OF CONTENTS
PARTICULARS PAGE NUMBER
PART 2
1. Banking Industry Study 06
2. Insurance Industry Study 09
3. Company Profile:
a. History 13
b. Principles and Values 15
c. Business Operation 17
d. Financial Profile 19
e. Operational Success 20
4. Mergers and Acquisitions 21
5. Global Presence 23
6. Competitors 25
7. Features of Banking Products 34
8. Comparison among Banks 41
9. Features of Insurance Products 45
PART 3
10. Objective of Study 54
11. Research Methodology 54
12. General Analysis 57
13. Conclusion 67
14. Recommendations 68
15. Appendix 70
16. References 72

PART 2
 INDUSTRY STUDY
Banking in India originated in the last decades of the 18th century. The
oldest bank in existence in India is the State Bank of India, a government-
owned bank that traces its origins back to June 1806 and that is the largest
commercial bank in the country. Central banking is the responsibility of the
Reserve Bank of India, which in 1935 formally took over these responsibilities
from the then Imperial Bank of India, relegating it to commercial banking
functions. After India's independence in 1947, the Reserve Bank was
nationalized and given broader powers. In 1969 the government nationalized
the 14 largest commercial banks; the government nationalized the six next
largest in 1980.

Currently, India has 88 scheduled commercial banks (SCBs) - 27 public sector

banks (that is with the Government of India holding a stake), 31 private
banks (these do not have government stake; they may be publicly listed and
traded on stock exchanges) and 38 foreign banks. They have a combined
network of over 53,000 branches and 17,000 ATMs. According to a report by
ICRA Limited, a rating agency, the public sector banks hold over 75 percent
of total assets of the banking industry, with the private and foreign banks
holding 18.2% and 6.5% respectively

Nationalization
By the 1960s, the Indian banking industry has become an important tool to
facilitate the development of the Indian economy. At the same time, it has
emerged as a large employer, and a debate has ensued about the possibility
to nationalize the banking industry. India Gandhi, the-then Prime Minister of
India expressed the intention of the GOI in the annual conference of the All
India Congress Meeting in a paper entitled "Stray thoughts on Bank
Nationalization." The paper was received with positive enthusiasm.
Thereafter, her move was swift and sudden, and the GOI issued an ordinance
and nationalized the 14 largest commercial banks with effect from the
midnight of July 19, 1969. Jayaprakash Narayan, a national leader of India,
described the step as a "masterstroke of political sagacity." Within two weeks
of the issue of the ordinance, the Parliament passed the Banking Companies
(Acquisition and Transfer of Undertaking) Bill, and it received the presidential
approval on 9 August, 1969.

A second dose of nationalization of 6 more commercial banks followed in

1980. The stated reason for the nationalization was to give the government
more control of credit delivery. With the second dose of nationalization, the
GOI controlled around 91% of the banking business of India. Later on, in the
year 1993, the government merged New Bank of India with Punjab National
Bank. It was the only merger between nationalized banks and resulted in the
reduction of the number of nationalized banks from 20 to 19. After this, until
the 1990s, the nationalized banks grew at a pace of around 4%, closer to the
average growth rate of the Indian economy.

The nationalized banks were credited by some, including Home minister P.

Chidambaram, to have helped the Indian economy withstand the global
financial crisis of 2007-2009.

Liberalization

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

The next stage for the Indian banking has been setup with the proposed
relaxation in the norms for Foreign Direct Investment, where all Foreign
Investors in banks may be given voting rights which could exceed the
present cap of 10%, at present it has gone up to 49% with some restrictions.
The new policy shook the Banking sector in India completely. Bankers, till this
time, were used to the 4-6-4 method (Borrow at 4%; Lend at 6%; Go home at
4) of functioning. The new wave ushered in a modern outlook and tech-savvy
methods of working for traditional banks. All this led to the retail boom in
India. People not just demanded more from their banks but also received
more.

Currently (2007), banking in India is generally fairly mature in terms of

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

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

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

In recent years critics have charged that the non-government owned banks
are too aggressive in their loan recovery efforts in connection with housing,
vehicle and personal loans. There are press reports that the banks' loan
recovery efforts have driven defaulting borrowers to suicide

INSURANCE INDUSTRY

Life is a roller coaster ride and is full of twists and turns. You cannot take
anything for granted in life. Insurance policies are a safeguard against the
uncertainties of life. Insurance is system by which the losses suffered by a
few are spread over many, exposed to similar risks. Insurance is a protection
against financial loss arising on the happening of an unexpected event.
Insurance policy helps in not only mitigating risks but also provides a
financial cushion against adverse financial burdens suffered.

What Is Insurance?
Insurance is a contract between two parties, the insurer or the insurance
company, and the insured, the person seeking the cover. Within this contract,
the insurer agrees to pay the insurer for financial losses arising out of any
unforeseen events or risk in return for a regular payment of premium. Thus,
these insurance plans are also called as a Risk Cover Plans, which means to
financially compensate for losses that occur uncertainly through accident,
illness, theft, natural disaster. As you can not fight against these man-made
and natural calamities, so at least be prepared for them and their aftermath
by taking insurance policies.

Insurance - Kind of Investment

Insurance is an attractive option for investment but most people are not
aware of its advantages as an investment option. Remember that first and
foremost, insurance is about risk cover and protection. By buying life
insurance, you buy peace of mind. Insurance also serves as an excellent tax
saving mechanism. The Government of India has offered tax incentives to life
insurance products in order to facilitate the flow of funds into productive
assets.

Types of Insurance
Insurance policies cover the risk of life as well as other assets and valuables,
such as, home, automobiles, jewelry et al. On the basis of the risk they cover,
insurance policies can be classified into two categories: Life Insurance and
General Insurance. As the term suggests, Life Insurance covers the risk
involved in a person's life, while General Insurance provides financial
protection against unforeseen events, like accident, flood, earthquake,
disease, etc.

Insurance is a federal subject in India and has a history dating back to 1818.
Life and general insurance in India is still a nascent sector with huge
potential for various global players with the life insurance premiums
accounting to 2.5% of the country's GDP while general insurance premiums
to 0.65% of India's GDP.[1]. The Insurance sector in India has gone through a
number of phases and changes, particularly in the recent years when the
Govt. of India in 1999 opened up the insurance sector by allowing private
companies to solicit insurance and also allowing FDI up to 26%. Ever since,
the Indian insurance sector is considered as a booming market with every
other global insurance company wanting to have a lion's share. Currently, the
largest life insurance company in India is still owned by the government.

History of Insurance in India

Insurance in India has its history dating back till 1818 started by Anita
Bhavsar, when Oriental Life Insurance Company was started by Europeans in
Kolkata to cater to the needs of European community. Pre-independent era in
India saw discrimination among the life of foreigners and Indians with higher
premiums being charged for the latter. It was only in the year 1870, Bombay
Mutual Life Assurance Society, the first Indian insurance company covered
Indian lives at normal rates.

At the dawn of the twentieth century, insurance companies started

mushrooming up. In the year 1912, the Life Insurance Companies Act, and
the Provident Fund Act were passed to regulate the insurance business. The
Life Insurance Companies Act, 1912 made it necessary that the premium rate
tables and periodical valuations of companies should be certified by an
actuary. However, the disparage still existed as discrimination between
Indian and foreign companies. The oldest existing insurance company in India
is National Insurance Company Ltd, which was founded in 1906 and is doing
business even today. The Insurance industry earlier consisted of only two
state insurers: Life Insurers i.e. Life Insurance Corporation of India (LIC) and
General Insurers i.e. General Insurance Corporation of India (GIC). GIC had
four subsidiary companies.

With effect from December 2000, these subsidiaries have been de-linked
from parent company and made as independent insurance companies:
Oriental Insurance Company Limited, New India Assurance Company Limited,
National Insurance Company Limited and United India Insurance Company
Limited.

Related Acts

The insurance sector went through a full circle of phases from being
unregulated to completely regulate and then currently being partly
deregulated. It is governed by a number of acts, with the first one being the
Insurance Act, 1938.

The Insurance Act, 1938

The Insurance Act, 1938 was the first legislation governing all forms of
insurance to provide strict state control over insurance business. You can
download the act by clicking here

Life Insurance Corporation Act, 1956

Even though the first legislation was enacted in 1938, it was only in 19
January 1956, that life insurance in India was completely nationalized,
through a Government ordinance; the Life Insurance Corporation Act, 1956
effective from 1.9.1956 was enacted in the same year to, inter-alia, form LIFE
INSURANCE CORPORATION after nationalization of the 245 companies into
one entity. There were 245 insurance companies of both Indian and foreign
origin in 1956. Nationalization was accomplished by the govt. acquisition of
the management of the companies. The Life Insurance Corporation of India
was created on 1 September, 1956, as a result and has grown to be the
largest insurance company in India as of 2006.

General Insurance Business (Nationalization) Act, 1972

The General Insurance Business (Nationalization) Act, 1972 was enacted to

nationalize the 100 odd general insurance companies and subsequently
merging them into four companies. All the companies were amalgamated
into National Insurance, New India Assurance, Oriental Insurance, and United
India Insurance which were headquartered in each of the four metropolitan
cities.

Insurance Regulatory and Development Authority (IRDA) Act, 1999

Till 1999, there were not any private insurance companies in Indian insurance
sector. The Govt. of India then introduced the Insurance Regulatory and
Development Authority Act in 1999, thereby de-regulating the insurance
sector and allowing private companies into the insurance. Further, foreign
investment was also allowed and capped at 26% holding in the Indian
insurance companies. In recent years many private players entered in the
Insurance sector of India. Companies with equal strength competing in the
Indian insurance market. Currently, in India only 2 million people (0.2 % of
total population of 1 billion), are covered under Mediclaim, whereas in
developed nations like USA about 75 % of the total population are covered
under some insurance scheme. With more and more private players in the
sector this scenario may change at a rapid pace.

STANDARD CHARTARED: ORGANISATION

STRUCTURE

History
Standard Chartered was formed in 1969 through a merger of 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 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 between Europe, Asia and 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), Kolkata and
Shanghai in 1858, followed by Hong Kong and Singapore in 1859.
• Traditional trade was in cotton from Mumbai (Bombay), indigo and tea
from Kolkata, rice from Burma, sugar from Java, tobacco from Sumatra,
hemp from 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 Bank's 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, in January 1863.
• Was prominent 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.
From the early 1990s, Standard Chartered has focused on developing its
strong franchises in Asia, Africa and the Middle East. It has concentrated
on consumer, corporate and institutional banking and on the provision of
treasury services - areas in which the Group had particular strength and
expertise.
Since 2000 the Bank has achieved several milestones with a number of
strategic alliances and acquisitions, which have extended the customer
and geographic reach and broadened the product range that Standard
Chartered offers.
 Principles & Values
Standard Chartered success is built on teamwork, partnership and the
diversity of our people.
Heart of values lie diversity and inclusion. They are a fundamental part of
culture, and constitute a long-term priority in aim to become the world's
best international bank.
There are 75,000 people, representing 115 nationalities and 60
nationalities among 500 most senior leaders. . Diversity helps to fuel
creativity and innovation, supporting the development of exciting new
products and services for our customers worldwide.

What they stand for

Strategic intent
• The world's best international bank
• Leading the way in Asia, Africa and the Middle East
Brand promise
• Leading by Example to be The Right Partner
Values
• Responsive
• Trustworthy
• International
• Creative
• Courageous
Approach
• Participation
Focusing on attractive, growing markets where they can leverage
relationships and expertise
• Competitive positioning
Combining global capability, deep local knowledge and creativity to
outperform competitors
• Management Discipline
Continuously improving the way of work, balancing the pursuit of growth
with firm control of costs and risks
Commitment to stakeholders
• Customers
Passionate about customers' success, delighting them with the quality of
service
• People
Helping people to grow, enabling individuals to make a difference and
teams to win
• Communities
Trusted and caring, dedicated to making a difference
• Investors
A distinctive investment delivering outstanding performance and
superior returns
• Regulators
Exemplary governance and ethics wherever are

Business Operations

Standard Chartered PLC, Listed on both the London Stock Exchange and
the Hong Kong Stock Exchange, ranks among the top 25 companies in the
FTSE-100 by market capitalization. The London-headquartered Group as
operated for over 150 years in some of the world’s most dynamic markets,
leading the way in Asia, Africa and the Middle East. Its income and profits
have more than doubled over the last few years primarily as a result of
organic growth and supplemented by acquisitions.
Consumer Banking
Consumer banking offers a broad range of products and services to
meet the borrowing, wealth management and transaction needs of
individuals.
Wholesale Banking
Wholesale Banking has a client-focused strategy, providing trade
finance, cash management, securities services, foreign exchange and
risk management, capital raising and corporate finance solutions.
SME Banking
Our SME Banking division offers products and services to help small and
medium enterprises manage the demands of a growing business,
including the support of out international network and trade expertise.
Islamic Banking
Standard Chartered Saadiq's dedicated team provides comprehensive
international banking services and a wide range of Shariah-compliant
financial products based on Islamic values.
The Standard Chartered Private Bank
Our Private Bank advisors and investment specialists provide customized
solutions to meet the unique needs and aspirations of high net worth
clients.

People
With 125 nationalities represented among 70,000 employees, nearly half of
whom are women, we have an international diverse workforce. We
believe this enables us to better serve our customers and maintain
competitive advantage.

Board of directors
Their leaders reflect the diversity that drives Standard Chartered's success
and makes us one of the world's most international banks.
Global team
Employees have more than doubled in number over the past five years.
Nearly half the number of employees is women and 68 nationalities are
represented among our senior management, reflecting the policy towards
providing equal opportunity for all.

They are committed to creating an engaging, inclusive work environment,

where people can make a difference, as individuals and as part of a team.
The Bank places great emphasis on continuous improvement to increase
productivity, enhance customer service and reduce administrative tasks, so
that employees can spend more time in rewarding activities that add value to
the Group.
 FINANCIAL PROFILE OF COMPANY

FINANCIAL PROFILE OF COMPANY

$13,968 +26% / 2007: $11,067m / 2006:
Operating Income m $8,620m
+13% / 2007: $4,035m / 2006:
Operating profit $4,568m $3,178m
+32% / 2007: $330bn / 2006:
Total assets $435bn $266bn
Normalised earnings 174.9cen +1% / 2007: 173.0 cents / 2006:
per share ts 149.4 cents
Normalised return on
equity 15.20% 2007: 15.6% / 2006: 16.9%
61.62cen +3.3% / 2007: 59.65 cents /
Dividend per share ts 2006: 53.40 cents
 OPERATIONAL SUCCESS OF COMPANY

Strong
income Group operating income rose 26 per cent to
growth $13.97 billion
Strong profit Group operating profit rose 13 per cent to
growth $4.57 billion
Broad-based Seven of our nine geographical segments each
income delivered over $1 billion of operating income
Robust he Group maintained a liquid, well-capitalized
balance and diversified balance sheet through the
sheet financial turmoil
A successful rights issue further strengthened
Successful the Tier 1 capital ratio to 10.1 per cent at the
rights issue end of 2008
Deposits grew 30 per cent to $274.6 billion in
Solid deposit 2008; the advances to deposits ratio improved
growth to 74.8 percent
Successfully integrated American Express Bank
Benefit from and other acquisitions, extending reach and
acquisitions capabilities
Sustainable $385 million of credit now available to
business microfinance institutions in 15 countries

MERGERS AND ACQUISITIONS IN LAST 9 YEARS

• In 2000, Standard Chartered acquired Grind lays Bank from ANZ Bank,
increasing its presence in private banking and further expanding its
operations in Bangladesh, India and Pakistan. Standard Chartered
retained Grind lays' private banking operations in London and
Luxembourg and the subsidiary in Jersey, all of which it integrated into
 its own private bank. This now serves high net worth customers in
Hong Kong, Dubai, and Johannesburg under the name Standard
Chartered Grind lays Offshore Financial Services. In India, Standard
Chartered integrated most of Grind lays' operations, making Standard
Chartered the largest foreign bank in the country, despite Standard
Chartered having cut some branches and having reduced the staff from
5500 to 3500 people.
• On 15 April 2005, the bank acquired Korea First Bank, beating HSBC in
the bid. Since then the bank has rebranded the branches as SC First
Bank.
• Standard Chartered completed the integration of its Bangkok branch
and Standard Chartered Nakornthon Bank in October, renaming the
new entity Standard Chartered Bank (Thailand). Standard Chartered
also formed strategic alliances with Fleming Family & Partners to
expand private wealth management in Asia and the Middle East, and
acquired stakes in ACB Vietnam, Travelex, American Express Bank in
Bangladesh and Bohai Bank in China.
• On 9 August 2006 Standard Chartered announced that it had acquired
an 81% shareholding in the Union Bank of Pakistan in a deal ultimately
worth $511 million. This deal represented the first acquisition by a
foreign firm of a Pakistani bank and the merged bank, Standard
Chartered Bank (Pakistan), is now Pakistan's sixth largest bank.
• On 22 October, 2006 Standard Chartered announced that it has
received tenders for more than 51 per cent of the issued share capital
of Hsinchu International Bank (“Hsinchu”), established in 1948 in
Hsinchu province in Taiwan. Standard Chartered, which had first
entered Taiwan in 1985, acquired majority ownership of the bank,
Taiwan’s seventh largest private sector bank by loans and deposits as
at 30 June, 2006. Standard Chartered merged its existing three
branches with Hsinchu's 83, and then delisted Hsinchu International
Bank, changing the bank's name to Standard Chartered Bank (Taiwan)
Limited). Prior to the merger, Hsinchu had suffered extensive losses on
defaulted credit card debt.
• In 2007, Standard Chartered opened its Private Banking global
headquarters in Singapore.
• On 23 August, 2007 Standard Chartered entered into an agreement to
buy a 49 percent of an Indian brokerage firm (UTI Securities) for $36
million in cash from Securities Trading Corporation of India Ltd., with
the option to raise its stake to 75 percent in 2008 and, if both partners
agree, to 100 percent by 2010. UTI Securities offers broking, wealth
management and investment banking services across 60 Indian cities.
• On 29 February 2008, Standard Chartered PLC announced it has
received all the required approvals leading to the completion of its
acquisition of American Express Bank Ltd (AEB) from the American
Express Company (AXP). The total cash consideration for the
acquisition is US$ 823 million.
 Standard Chartered’s Global presence
America Africa Asia Middle East Europe
Argentina Botswana Afghanistan Bahrain The Falklands
Venezuela Cameroon Australia Jordan Ireland
Canada Gambia Bangladesh Lebanon Jersey
Bahamas Ghana Brunei Oman Switzerland
Brazil Ivory Coast Cambodia Qatar Turkey
Colombia Kenya China UAE UK
Mexico Mauritius Hong Kong Turkey
Peru Nigeria India UK
US Sierra Leone Indonesia
Venezuela South Africa Japan
Tanzania Laos
Uganda Macus
Zambia Malaysia
Zimbabwe Mauritius
Nepal
Pakistan
Philippines
Singapore
South Korea
Sri Lanka
Taiwan
Thailand
Vietnam
 Products and Services Offered By Standard
Chartered
Through The Network Of Over 500 Offices In More Than 50 Countries,
Standard Chartered Offers Personal Financial Solutions Relevant To You As
Ann Individual. Standard Chartered Treasure Building A Relationship With The
Customer Changing Financial Needs At Different Stages Of Your Life. Their
Long Heritage Of Nearly 150 Years Has Enabled Them To Change With Time,
Offering Quality Products By The Means That Are Convenient To Customers.

Standard Chartered Offer Include:

• Personal Finance

• Credit Cards

• Priority Banking

• Investment Advisory Services

• Personal Investment

• Insurance

• Deposits And Retailers

• Retail FX Products.

Competitors

Barclays Bank
Barclays GRCB in India is led by Samir Bhatia, Managing Director, India and
Indian Ocean. Barclays GRCB India, in a short period of two and a half years,
has grown to be amongst the most respected foreign banks in the country,
servicing more than 830,000 clients.
Barclays opened its doors to commercial customers in November 2006 and
today has a roster of over 2300 clients. This includes large multinationals,
public sector companies and a growing base of small and medium
enterprises. Barclays offers them a broad spectrum of services including
loans, deposits, payments & cash management services, and trade finance
and treasury solutions.
The consumer banking division offers customers a growing suite of products
and services that are relevant both to their current and emerging market
needs. These include innovative propositions from personal loans (that come
with smaller monthly repayments) to credit cards (that allow customers to
choose their payment date). Innovations at Barclays GRCB India are not
limited to the consumer banking division alone. The Indian operations
recently became the first country in Asia and the fourth in the world to launch
‘The Latitude Club’, a global commercial banking proposition from Barclays
that assists corporate customers to identify new business partners
internationally.
Barclays GRCB has a network of 11 ATMs and five branches across India.
Headquartered in Mumbai, Barclays is present in four other cities including
New Delhi, Junagarh which in Gujarat, Kanchipuram which is near Chennai,
and another at Nelamangala near Bengaluru.
Investing in the community is an important part of Barclays sustainability
strategy. Globally, Barclays has focused efforts on financial inclusion,
entrepreneurship, education, enterprise and helping people into employment.
The bank is currently in the midst of exploring how it can leverage its global
partnerships to invest in the growth and development of the communities in
which it operates in India as well.

HSBC Bank
HSBC's origins in India date back to 1853, when the Mercantile Bank of India
was established in Mumbai. The Bank has since, steadily grown in reach and
service offerings, keeping pace with the evolving banking and financial needs
of its customers.

In India, the Bank offers a comprehensive suite of world-class products and

services to its corporate and commercial banking clients as also to a fast
growing personal banking customer base.
• Personal Banking
HSBC offers a wide range of personal financial services, including
personal lending and deposit products, through its branch network in
Ahmadabad, Bangalore, Chennai, Chandigarh, Coimbatore, Gurgaon,
Hyderabad, Jaipur, Kochi, Kolkata, Ludhiana, Mumbai, New Delhi, Noida,
Pune, Thane, Trivandrum and Visakhapatnam.
• Non Resident Indian Banking
HSBC's Non Resident Indian Banking (NRI) centers located in Asia-
Pacific, the Middle East, Europe and North America, together with
HSBC's offices worldwide, provide the international Indian Diaspora
access to a range of products and services. These include NRI related
investment (both international and domestic), transactional and
deposit products, together with a full range of personal and private
banking products in India and overseas. Internet banking also provides
easy access to HSBC's services.
• Financial Planning Services
Services include investment and custodian management and access to
stock broking and insurance services, which are offered to resident as
well as non-resident Indians.
• Corporate Banking
HSBC has well-established, long-term corporate banking relationships
with large domestic Indian corporations and foreign multinationals
operating in India. Services include term and working capital finance,
trade facilities, corporate deposits, syndications, payments and cash
management services and factoring.
• Business Banking
HSBC's Extra Mile Business Banking offers two types of account to
small and medium-sized businesses - The Business Account and the
Business Vantage Account. Services include Business Phone Banking,
Business Doorstep Banking and Multi Branch Business Banking.

• Payments and Cash Management

• Trade (international and domestic) and Factoring Services
• Institutional Banking
• Treasury and Capital Markets
• Custody and Clearing
ABN AMRO

ABN AMRO in India

Traditionally known as a strong diamond financing bank, ABN AMRO today

offers unparalleled suite of client services in India.

By leveraging global reach and drawing on the expertise of team of research,

sales and trading, equity capital market and M&A advisory professionals,
ABN AMRO have led many of the biggest and most innovative landmark
transactions in India for Corporate and Institutional Clients.

In addition, ABN AMRO also offer a broad range of transaction banking

products, fixed income and foreign exchange products and services including
sales and trading, fixed income origination, derivatives, structured lending
and commodity financing.

For Business Banking clients, ABN AMRO offer top quality services in trade
finance, business loans, supply chain management, credit facilities, payment
and cash management- solutions that help small to medium size businesses
enhance cash flow, boost overall business efficiency and capitalize on new
opportunities.

Through a diverse range of product offerings including personal loans, credit

cards, savings accounts, financial planning, investment and insurance
services, ABN AMRO meets the everyday financial needs of over a million
Personal Banking clients in India.

In addition ABN AMRO has Van Gogh Preferred Banking which represents
a new standard of relationship banking which has been exclusively created to
offer an enhanced level of service to demanding individuals. Van Gogh
preferred banking services offers a wide range of wealth maximization
opportunities offering new standards of freedom, access, advice and service.

ABN AMRO Broking offer world class research, timely advice, extreme ease
of use and swift real time transaction systems for our clients.

Private Banking Services in India offers select and premium clients a

comprehensive range of quality Portfolio Advisory Services along with a
sophisticated execution platform. ABN AMRO aid in enhancing their wealth
with premium services including investment advisory, non-discretionary
portfolio management, investment funds, international estate planning and
trust.

• Asset Management
• The Microfinance

CITI Bank

Citibank is a major international bank, founded in 1812 as the City Bank of

New York, later First National City Bank of New York. Citibank is now the
consumer banking arm of financial services giant Citigroup, one of the largest
companies in the world. As of March 2007, it is the largest bank in the United
States by holdings.

Citibank has operations in more than 100 countries and territories around the
world. More than half of its 1,400 offices are in the United States, mostly in
the New York City, Chicago, Miami, and Washington, D.C. metropolitan areas,
as well as in California.
In addition to the standard banking transactions, Citibank offers insurance,
credit card and investment products. Their online services division is among
the most successful in the field, claiming about 15 million users.

As a result of the global financial crisis and huge losses in the value of its
subprime mortgage assets, Citibank was rescued by the U.S. government
under plans agreed for Citigroup. On November 23, 2008, in addition to initial
aid of $25 billion, a further $25 billion was invested in the corporation
together with guarantees for risky assets amounting to $306 billion.

Citibank's major presence in California is fairly recent. The bank had only a
handful of branches in that state before acquiring the assets of California
Federal Bank in 2002 with Citicorp's purchase of Golden State Bancorp.

In 2001, Citibank settled a $45 million class action lawsuit for improperly
assessing late fees. Following this Citibank lobbied the United States
Congress to pass legislation that would limit class action lawsuits to $5
million unless they were initiated on a federal level. Some consumer
advocate websites report that Citibank is still improperly assessing late fees.

In August 2004, Citibank entered the Texas market with the purchase of First
American Bank of Bryan, Texas. The deal established Citi's retail banking
presence in Texas, giving Citibank over 100 branches, $3.5 billion in assets
and approximately 120,000 new customers in the state. First American Bank
was renamed Citibank Texas after the take-over was completed on March 31,
2005.

In 2008, Citibank was crowned Deal of the Year - Securitization Deal of the
Year at the 2008 ALB Japan Law Awards
Deutsche Bank

With a presence in 75 countries and an asset base of Euro 964 billion,

Deutsche Bank is one of the leading banks in the world. For the last 135
years we have offered financial solutions to demanding customers in the
world’s most dynamic markets. Deutsche‘s approach of pursuing excellence,
delivering innovative solutions, leveraging unique insights and building long-
term relationships has earned us the trust of millions of customers. Today,
Deutsche Bank is highly respected all over the world by individuals and
corporates alike for its strong advisory approach and innovative banking
services.

For the past 27 years, Deutsche Bank has made a mark in India in global
markets, investment banking, global equities, asset management, corporate
and transaction banking and private wealth management. We have
partnered some of the country’s top corporations and leading institutions and
our consistent performance and business focus has won us various awards -
including:
• The Best Investment Bank in India - by Euromoney in 2007
• Best Debt House in India - by Euromoney in 2007
• Best Cash Management Bank in South Asia - by Triple Asset Asian
Awards in 2007
• Best Private Bank in India - by Asiamoney Private Banking Polls in 2007
• Award for Outstanding contribution towards the promotion of Indo-
German economic relations - by the Indo-German Chamber of Commerce in
2006

In the 4th quarter of 2005, Deutsche Bank has launched its retail banking
services in India with a comprehensive range of high quality-products and
services to provide the customer an excellent banking experience. With db
Financial Planning - Deutsche Bank’s sophisticated advisory service -
customers will be empowered to have a 360° optimization of their finances.
Deutsche Bank is dedicated to excellence and has constantly challenged
status quo to deliver superior solutions to its customers. Our passion to
perform will ensure that our customers benefit from a world-class retail
banking experience.
Products and Services Offered By Standard Chartered

Through The Network Of Over 500 Offices In More Than 50 Countries,

Standard Chartered Offers Personal Financial Solutions Relevant To You As
Ann Individual. Standard Chartered Treasure Building A Relationship With The
Customer Changing Financial Needs At Different Stages Of Your Life. Their
Long Heritage Of Nearly 150 Years Has Enabled Them To Change With Time,
Offering Quality Products By The Means That Are Convenient To Customers.

Standard Chartered Offer Include:

• Personal Finance

• Credit Cards

• Priority Banking

• Investment Advisory Services

• Personal Investment

• Insurance

• Deposits And Retailers

• Retail FX Products.

FEATURES OF BANKING PRODUCTS AND SERVICES

SAVING ACCOUNT FEATURES:
AXcessPlus Account

Exclusive benefits of an aXcessPlus savings account:

• FREE Unlimited Visa ATM transactions (Cash withdrawal)

• FREE Standard Chartered Bank branch access across the country
• FREE Doorstep Banking
• FREE Demand Drafts/Pay Orders (drawn at SCB locations)
• FREE Payable at Par Chequebook

Get instant cash at over 20,000 ATMs across India and over 10, 00,000 ATMs
across the world through the Visa network. And get a globally valid Debit
Card that lets you shop at over 3, 26,000 outlets in India and at over 14
million outlets across the world.
Additional Benefits.

• International Debit Card

• Phone Banking
• Online Banking
• Extended Banking Hours

SuperValue Account

Exclusive benefits of a SuperValue Account:

• Free globally valid Debit-cum-ATM card

• Free Access to at over 20,000 Visa ATMs in India
• Free Doorstep Banking
• Free Payable at Par cheque book/ account statements / DDs
• Free Inter Bank Funds Transfer
• Free Foreign Inward Remittance Certificates

Additional Benefits.

• Multicity 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
• Online 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

2 in 1 Account

Exclusive benefits of a 2 in 1 account:

Effective 28th March 2009, the 2 in 1 limit on the operative account
has been enhanced from the current 75% to 95% of the linked Term
Deposit value

• Earn fixed deposit interest rates

• Enjoy the flexibility of a Savings or a Current Account
• Get a free personalized cheque book and Debit/ATM card
• Withdraw money whenever you need it
• Deposit more money in your account to earn a higher rate of interest
by placing subsequent deposits
• Get account related information at your fingertips with Phone Banking

The 2-in-1 account gives you the facility of linking 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.
And that’s not all either. In case there is need to withdraw amounts in excess
of what is available in savings or current account, bank will break your
deposit for the exact amount required. The rest of the deposit continues
earning the original high interest.

Parivaar Account

Parivaar is much more than a regular Savings Account. It allows customer to

maintain individual identity while allowing tapping family's financial strength.
Here are some of the features of the Parivaar savings account:

• 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 Online Banking.
• Globally valid ATM-cum-debit card can be used at 3, 26,000 merchant
outlets in India and 14 million outlets worldwide.
With the Parivaar account, family can maintain individual savings accounts
with the benefit of clubbing balances in grouped accounts.

AaSaan Account

Exclusive benefits of an aaSaan savings account:

• No Minimum Balance requirement

• Free unlimited access to any SCB branch across the country for
Customer-in-person
• Unlimited Free access to Standard Chartered Bank ATM's
• Up to 4 free cash withdrawal transactions per month at other domestic
VISA ATMs*
• Nominal quarterly fee of Rs. 100 (reversed if the Average Balance in
the quarter is Rs. 10,000 or more)
• Complete control over banking requirements:
o International Debit Card
o Phone Banking
o Online Banking
o Extended banking hours*
o Locker facility*
o Doorstep Banking

No Frills Account

Here are some of the unique features available on No Frills Account:

• Low Average Quarterly Balance of Rs. 250

• ATM card & Debit Card available
• 4 free transactions per month at any Standard Chartered Bank channel
(Online Banking, Phone Banking, ATM & Branch)
• Anywhere banking – Access your account from any branch of Standard
Chartered Bank
• Access to Phone Banking and Online Banking
• Free Cheque deposit at any SCB Branch or ATM

CURRENT ACCOUNT FEATURES:

Business Plus Account

Benefits of having a Business Plus Account:

 • FREE Drafts on our branch locations: A Business Plus customer can
now avail of drafts & pay orders payable at any of our branches up to
75 a quarter.
• FREE Payable at par cheques: Issue cheques payable at par at any
of branch locations, free of cost.
• FREE National Electronic Fund Transfers: Transfer funds
seamlessly to accounts in over 63 banks and 26000 branches across
India. The funds can be transferred within 24 hours*.
• FREE Anywhere banking facility: Conduct your banking transactions
from any of branches spread across the country, irrespective of the
branch where account was opened.

Whatever banking requirements our Business Plus Account will give you a
mix of value and transactional convenience that is unsurpassed.

• Get funds faster without any additional cost Cheques drawn on

any bank at our branch locations are cleared in just 7 days, Moreover,
this service is available to you free of charge.
• Drafts on correspondent bank locations Get an opportunity to
avail of drafts on over 470 locations, at most competitive rates
• Quick transfer between one accounts with our bank – almost
instantaneously and free!
• Doorstep Banking Request for cash pick-up and delivery, cheque
pick-up, draft/PO delivery, to/from your home or office. Just call / fax
the request.
• FREE Internet Banking Access account any time of the day from
anywhere in the world through our Secured Internet Banking facility.
And do routine banking transactions online.
• FREE Phone Banking Access account from the comfort of your
home / office. Get account information, request for drafts, give stop
cheque instructions, transfer funds and do much more with just one
phone call – any time of the day.
• Debit Card with aXcessPlus benefits Get FREE access (4 free
transactions per month) to your money through over 20000 VISA ATMs
spread across the country. You'll also get all the special privileges and
offers, made available to our Debit Card customers.

Enhanced Business Plus Account

• FREE Drafts on branch locations A Business Plus customer can now

avail of drafts & pay orders payable at any of our branches up to 75 a
quarter.
 • FREE Drafts on correspondent bank locations Have an opportunity
to avail free drafts drawn on over 470 locations, up to a limit of Rs. 75
lakhs per month*.
• FREE Payable at par cheques Issue cheques payable at par at any of
our branch locations, free of cost.
• FREE National Electronic Fund Transfers Transfer funds seamlessly
to accounts in over 63 banks and 26000 branches across India. The
funds can be transferred within 24 hours*.
• FREE Doorstep Banking Request for cash pick-up and delivery,
cheque pick-up, draft/PO delivery, to/from your home or office. Just
call / fax us your request.
• You can access your account from the comfort of your home / office
through Phone Banking. You can get account information, request for
drafts, give stop cheque instructions, transfer funds and do much more
with just one phone call – any time of the day.

• Get funds faster without any additional cost Cheques drawn on any
bank at our branch locations are cleared in just 7 days, Moreover, this
service is available to you free of charge.
• Quick transfer funds between your accounts with our bank – almost
instantaneously and free
• FREE Internet Banking Access to account any time of the day from
anywhere in the world through our Secured Internet Banking facility.
And do routine banking transactions online.
• FREE Phone Banking Access to account from the comfort of your
home / office. Get account information, request for drafts, give stop
cheque instructions, transfer funds and do much more with just one
phone call – any time of the day.
• FREE Anywhere banking facility Conduct banking transactions from any
of our branches spread across the country, irrespective of the branch
where your account was opened.
• Get all the special privileges and offers, made available to our Debit
Card customers.

Option Average Quarterly Balance

Enhanced Business Plus 100 Rs.100,000
Enhanced Business Plus1000 Rs.10,00,000**
 COMPARISON AMONG BANKS:
Basis- Saving Account Features
Particula Standard ABN
HSBC Deutsche Barclays
rs Chartered AMRO
Flex
Access Mass Zero
privilage/
plus/ Market, balance/
Saving Flex plus/ Value plus/
Supervalue Power/ Advantage
Account Flex Advantage
/ Parivaar/ Vantage/ / Saving
advantag
2 in 1 Premium Plus
e
No. of
81 28 42 8 4
Branches
A/c
0/ 10000/
Opening 10000 50000 25000 40000
25000
Balance
Interest
3.50% 3.50% 3.50% 3.50% 3.50%
Rate
AQB 10000 50000 25000 40000 25000
Shop Internation Classic/
Debit Normal/
Smart/ al Debit Internation
card Gold
Gold Card al
Withdraw
Free Free Free Free Free
al
Rewards 1 point per
NA NA NA NA
Point Rs. 100
SMS
Free Free Free Free Free
Banking
Local Local Local
Cheque cheque cheque cheque
At par At par
Book book/ At book/ At book/ At
par par par

Free up to
0/ 2 DD PM/
Demand Free/ 50/ 1.5 lakh/
1 DD per NA Unlimited
Draft 50 Free up to
day
2.5 lakh
 85 or . 1.75 / 1.5
DD No
125% of 50 NA per Rs.
Charges charges
amount 1000
0/ 2 times
per month 1 per day/
Door Step
up to 3 1 per day/ Free Free Free
Banking
lakhs/ 1 free
every day
Phone
Free Free Free Free Free
Banking
Internet
Free Free Free Free Free
Banking
Multicity
Branch Free Free Free Free Free
Banking
Balance
Inquiry Free Free Free Free Free
Charges
Bill
Free Free Free Free Free
Payments
Free/ Quarterly/ Monthly
Statemen
monthly/ Monthly monthly/ Monthly and
ts
Quarterly monthly Quarterly
RTGS
Yes Yes Yes Yes Yes
facility
Banking
9 hrs 10 hrs 9 hrs 9 hrs 9 hrs
Hr

Basis- Current Account Features

Particul Standard
ABN AMRO HSBC Deutsche
ars Chartered

Current BP 50/ Enhance BP Value Plus Silver/ Business Normal/

Account 100/ Enhance BP Gold-100/ Gold / B. Current+
1000 500 Vantage Cu. Sil/ Cu.
/ Gold/ Cu.
 Business
Platinum
Select

No. Of
81 28 42 8
Branches

20000/
Account 25000/ 35000/
50000/100000/100 40000/100000/50
Opening 100000/ 75000/
0000 0000
Balance 1000000 250000/
500000

Debit Gold/
Gold Gold Normal
Card Classic

Charges 150/400
Of Debit 900 200 Debit 495/ 95
Card Card +

Cheque
At Par At Par At Par At Par
Book

Free Own/
5 Lac/ 15/
Demand 25 At SCB Free/
NA NA 15 Lac/ 55
Draft Unlimited
Lac/ 1
Crore

Free Own/
Free/ 50 Lakhs On 5 Lac/ 15/
DD Limit Non Abn 20 Lakh/
Non SCB/ 75 Lakhs NA 15 Lac/ 55
Free 20 Lakh/ 40 Lakh
On Non SCB Lac/ 1
Crore

Door
1 Daily Free/ Nil/ 1 Per Day/ 1 Free To
Step NA
Unlimited Per Day All
Banking

Phone
Free Free Free Free
Banking

Internet
Free Free Free Free
Banking

Multicity Free Free Free Free

Branch
 Banking

Balance
Inquiry Free Free Free Free
Charges

Quarterl
Stateme Free/ Monthly/ y/
Monthly Monthly
nts Quarterly Monthly/
Monthly

RTGS
Yes Yes Yes Yes
Facility

FEATURES OF INSURANCE PRODUCTS AND

SERVICES
CASH GAIN:
Besides giving regular Cash Benefits, this plan takes care of life insurance
needs also. On death during the term of policy, the following are paid
irrespective of the Cash Benefits already paid:
• Bajaj Allianz Cash Gain Economy: Sum Assured + Bonuses
• Bajaj Allianz Cash Gain Gold: Double Sum Assured + Bonuses
• Bajaj Allianz Cash Gain Diamond: Triple Sum Assured + Bonuses
• Bajaj Allianz Cash Gain Platinum: Quadruple Sum Assured + Bonuses

This plan pays out a guaranteed amount on survival at the end of every 1/5th
of the policy term selected. A total of 75% of the Sum Assured is paid out in
the first 4 Cash Benefits. On maturity, 50% of the Sum Assured is paid along
with accrued bonuses. Hence the Total Cash/Survival Benefit distributed
under this plan comes to more than 100% of the Sum Assured - in fact 125%
of the Sum Assured.
1st Cash 2nd Cash 3rd Cash 4th Cash
On Maturity
Benefit Benefit Benefit Benefit
 50% of Sum
10% of Sum 15% of Sum 25% of Sum 25% of Sum Assured +
Assured Assured Assured Assured Accrued
Bonuses

The benefits will further increase by way of Accrued Bonuses that are
distributed
at maturity or on death, if earlier. In case of maturity or death after 15 full
policy
years, the company may pay an additional terminal bonus for in-force
policies.

Eligibility for Cash Gain Plan:

Conditions Cash gain Economy

15 20 25 30 Cash gain Gold/
year year year year Diamond/ Platinum
s s s s
Minimum Age at 15 14 13 12
18 Years
entry Years Years Years Years
50 Years (subject to
Maximum Age at 55 50 45 40
maximum age of maturity
Entry Years Years Years Years
being 70 Years
Minimum Age at
18 18 18 18
entry for additional 18 years
years years years years
Riders
Rs. Rs. Rs. Rs.
Minimum Sum
5000 5000 5000 5000 Rs. 50000
Assured
0 0 0 0
Maximum Sum No No No No
No Limit
Assured Limit Limit Limit Limit
Minimum Age at
50 50 50 50
entry for additional 50 Years
Years Years Years Years
Riders
Rs. 5000 for Yearly, Rs. 2500 for Half yearly, Rs. 1250 for
Minimum Premium
Quarterly, Rs. 700 for monthly
CHILD GAIN:
Available as:
Option 1: Child Gain 21
Option 2: Child Gain 24
Option 3: Child Gain 21 Plus
Option 4: Child Gain 24 Plus

Common features in the 4 Options of Bajaj Allianz ‘Child Gain’ Plan

1. Limited Premium Payment Term which means that the premiums are
payable
till your child attains age 18 years.
2. Contributions grow by the way of compounded annual bonuses, which
will
be paid with the first guaranteed payout (policy anniversary following
age 18 of child), for in-force policies. In addition to the annual bonuses,
a terminal bonus may also be paid.
3. Be eligible for Tax Benefits under Section 80C and Section 10(10)D of
the
Income Tax Act.
4. Assuring Child’s Future: In an uncertain world, the prime interest of
child cannot be jeopardized in any way. Which is why we have built in
some added benefits in all our plans to protect the interests of your
child’s future, by counter insuring the policyholder.

INBUILT BENEFITS:
1. Premium Waiver Benefit: In case of death or accidental total
permanent disability
of the policyholder during the premium payment term, all future
premium
payments are waived. This benefit will not be available in the event of
accidental
permanent total disability after age 65 of the policyholder.
2. Family Income Benefit: In case of death or accidental total
permanent disability
of the policyholder during the term of the policy, a monthly income
benefit of
1% of the sum assured (12% per annum) subject to a maximum of
Rs.10, 000
p.m. becomes payable till the end of the policy term. This benefit will
not be
 available in the event of accidental permanent total disability after age
65 of the
policyholder.
3. Option to Purchase further Insurance at Maturity: For ensuring
continuity of the valuable insurance protection that the child was
enjoying, we offer the child an option to purchase a with profits
endowment or an equivalent plan from Bajaj Allianz Life Insurance
Company for twice the amount of face value of this policy, without any
medical examination, on the premium rates prevailing at that time (The
application must be made at least 6 months prior to maturity of this
policy).

Payout Structure:
For Child Gain 21 and Child Gain 21 Plus: The minimum guaranteed
payouts are as
follows:

Policy Anniversary
following completion 18 19 20 21
of Age
Payout as % of Sum
20% + Accrued
Assured 25% 25% 35%
Bonuses

For Child Gain 24 and Child Gain 24 Plus: The minimum guaranteed
payouts are as
follows:
Policy Anniversary
following completion 18 20 22 24
of Age
Payout as % of Sum
25% + Accrued
Assured 25% 25% 40%
Bonuses

Eligibility for Child Gain Plan:

Child Gain 21 and Child Child Gain 24 and Child

Conditions
gain 21 plus gain 24 plus
Maximum age of policy
20 Years 20 Years
holder
 Minimum age of policy
50 Years 50 Years
holder
Maximum age of Child 13 Years 13 Years
Minimum age of Child 0 Years 0 Years
Minimum Premium
5 5
Payment Term
Maximum Premium
18 18
Payment Term
21 less age at entry of LA 24 less age at entry of LA
Maximum policy term
(child) (child)
Maximum age of child at
21 Years 24 Years
maturity
Minimum sum Assured Rs. 100000 Rs. 100000
Maximum sum Assured Rs. 5000000 Rs. 5000000
Rs. 5000 for Yearly, Rs. 2000 for Half yearly, Rs. 1250
Minimum Premium
for Quarterly, Rs. 700 for monthly

Available as:
Bajaj Allianz Invest Gain Economy: The basic package
Bajaj Allianz Invest Gain Gold: With double protection
Bajaj Allianz Invest Gain Diamond: With triple protection
Bajaj Allianz Invest Gain Platinum: With quadruple protection

Additional Protection:
Get the option to add the following additional benefits, providing total
protection against uncertainties.
a) Family Income Benefit (FIB) – Have the unique Family Income Benefit
from Bajaj Allianz that ensures total financial protection for loved ones. In
case of death or accidental total permanent disability, a guaranteed monthly
income of 1% of the sum assured (12% per annum) is paid till the end of the
policy term or at least for a period of 10 years, whichever is higher.
Moreover, all future premiums are waived.
b) Comprehensive Accident Protection: This benefit provides
comprehensive cover in case of an accident. It comprises of:
Accidental Death Benefit
Accidents are always sudden and sometimes fatal. Bajaj Allianz Accidental
Death Benefit gives the loved ones something to start with after the
permanent loss of income by paying an amount equal to the Sum Assured.
(subject to a maximum of Rs. 50, 00,000/- under all policies with Bajaj Allianz
taken together).
Accidental Permanent Total/Partial Disability Benefit
Accidents are unpredictable, and so are the consequences. They may lead to
a disability - partial or total. This Benefit provides a financial cushion against
such misfortunes. Insured will get 50% of the Sum Assured in case of partial
disability and 100% in case of total disability. (subject to a maximum of Rs.
25, 00,000/- for partial and Rs. 50, 00,000/- for total disability under all
policies with Bajaj Allianz taken together).
Waiver of Premium Benefit: An accident may lead to permanent total
disability, limiting one's ability to earn. Bajaj Allianz Waiver of Premium
benefit is a helping hand when one needs it most. It waives off all future
premiums while keeping the valuable life insurance cover alive, thus enabling
you to live up to your commitments.
c) Critical Illness Benefit (CI)
Some illnesses are critical. They not only alter one's life's pattern but also
result in a financial drain. Bajaj Allianz Critical Illness Benefit softens the
impact on the family by paying out the Critical Illness Benefit under the plan
immediately, while other policy benefits continue (excluding Hospital Cash
Benefit). We cover 11 Critical Illnesses. You have the flexibility of choosing
Critical Illness cover up to the basic Sum Assured selected by you (Minimum
Rs. 50,000).
d) Hospital Cash Benefit (HC)
The worry of settling hospital bills (room charges) adds to the trauma of
hospitalization. Bajaj Allianz Hospital Cash Benefit reduces this financial
burden and helps recovery with peace of mind.
e) Mahila Gain Rider Benefit
Provides protection against risks specific to women.

Number of payouts for Invest gain plans:

Policy Premium Payment Terms

Term available
5-9 years 2 3
10-14
years 2 3 5
15-19
years 2 3 5 7 10
20-24
years 2 3 5 7 10 12
25 & above 2 3 5 7 10 12
Eligibility for Invest gain plans:

Invest Gain Gold/ Diamond/

Conditions Invest Gain Economy
Platinum
Minimum Age of 0 ( risk commences at
18 years
entry age of 7)
Maximum Age at
65 years 50 years
Entry
Maximum Age at
70 years 70 years
Maturity
Minimum Term 5 years
Maximum Term
Minimum Sum
Rs. 50000
Assured
Maximum Sum
No Limit
Assured
Rs. 5000 for Yearly, Rs. 2500 for Half yearly, Rs. 1250 for
Minimum Premium
Quarterly, Rs. 700 for monthly
Premium Payment
Equal to Policy term or limited as per the table given
Term
 PART 3

Objective
1. To find out the spread of customers for the type of relationship they
have with their banks.

2. To find out overall satisfaction and dissatisfaction level among

customers.

3. To find out the level of interest customer have in opening account with
Standard Chartered.

Research methodology:
In this service industry, any company’s primary objective is to gain more and
more customer satisfaction and to extend the market share. For this it is very
important for any company to rely on strong marketing research and the
areas of development. In the collection of appropriate data and most
important is the correct analysis of data is very important. If everything is
done fine bank would be able to know:

1. Current scenario of the market.

2. Competition in the market

3. Areas of development

4. Base for Strategy formulation.

Procedure:

For the research the process that has been taken, following steps was
followed:

1. Gaining knowledge about the project

2. Deciding the objective of study

3. Developing survey instruments

4. Data collection through primary and secondary ways

5. Analyzing the data of various areas to come up to a suitable

conclusion.

1. Gaining knowledge about the project

In this section detailed study of the existing information was done. All the
factors that has to be taken over on to account for suitable study. Also it
gave in depth knowledge of the features and services that are currently
offered by any bank.

2. Deciding the objective of study

The main objective of this study was to find out the reasons for selection of
any bank account over others. There are numerous factors that lead to these
selections. So this study could help bank to design suitable strategies for
making a design for bank accounts.

3. Developing survey instruments

The main instruments required for survey was a well developed
questionnaire. This helped a lot in gaining the customer experience on
primary level.

4. Data collection through primary and secondary ways

The sample was collected on the basis of people who are majors from
different parts of gurgaon.

a. Primary data: The data that was primarily collected was face to
face through questionnaire. All of them were in writing and so was
the response.

b. Secondary sources: Apart from the primary data other supporting

data was through internet and various magazines. This helped in
strengthening our research and helped in coming to suitable
conclusion.

5. Analyzing the data of various areas to come up to a suitable

conclusion.

The main part of analysis that was done was on Microsoft excel. Through
various pie and bar charts a suitable conclusion was drawn.
General Analysis.

Considering the age factors it has been found out that most of the people are
between the age group 0f 30-40. These could be due to the reason that most
of the people residing in gurgaon are working and that too in MNC. So as per
the culture of MNC, there are lots of young people working there.

These can be seen from the chart that approximately 56% are in 30-40 range
of age group, 28% in 20-30 range, 11% in 40-50 range and 5% in 50 and
above range of age group.
After classifying the sample on the basis of age, it was analyzed that among
the entire major share was of the salaried class and businessmen. This is
again due to the same reason. Since most of the families are nuclear in
gurgaon so there are more middle age population residing. This affects
banking because this class requires fast and simplest transactions and any
discrepancy will lead to greatest dissatisfaction in them.

From the data that we got it is clear that about 83% lies in salaried and
business class and left is between self employed and students.

The third question was corresponding to type of the bank the customers are
with. From the analysis it has been identified that all salaried have their
salary accounts in a private sector bank due to easier movements of funds
rather than complications in public sector bank. People who have accounts in
MNC bank were mainly the Business class people and HNIs. This is due to
high level of service expectations which only MNCs are able to provide to its
customers.

Fourth question was corresponding to the name of banks the customers are
with. Among the sample of 100 respondents the selection of banks by the
customers were also diverted towards the private sector bank due same
reason. Almost all companies try to credit salaries through electronic
transfers so people tend to get these account without any choice. The only
selection they can make is between 1 or 2 banks. Among all majorities have
their accounts in either ICICI or CITI bank. Only few had accounts in public
sector banks.

Below is the graph that shows the details.

Once the banks are being selected the next question was of the type of
relationship customer had with the banks. It was classified under savings
account, current account; demat account and some other services like fixed
deposit or loans.

Among the masses that are working had salary account that has been
categorized under savings account. Few had loans outstanding and current
accounts were mainly held by business class.
Customers select any bank on the basis of kind of kind of services they
provide. These features are almost same for all kinds of bank. Through
personal interviews it was found that customer were attracted towards banks
through their past encounters. So among all Phone banking, Internet banking,
Multicity banking is there for each and every bank but few bank give
doorstep banking like Standard Chartered, HSBC so these are attracting
customers.
Once the customers are attracted towards particular service the next comes
the mode of accessing the bank services. Since every saving account
customer gets a debit card and ATM being the simplest and cheapest mode,
majority of the sample chooses ATM transaction, next preference was given
to phone and internet banking as it is used for some administrative related
queries like updating of address or cheque book request and many more.
Also some bank charge a fee for bank visit like CITI bank so the branch
banking is very less, SMS is introduced recently so it is not much popular.
Next question was very important which was measuring the overall customer
satisfaction level. This compromised of numerous factors like past
encounters, quality of service, and response to complaints, charges, interest
rates and value added services. Once everything has been combined the
customer comes to conclusion of how much he is satisfied with the services.
If his overall expectation less than the services given by bank, it can be said
that customer is dissatisfied but if bank is able to give more than the
perceived the customer would be delighted. In a broader view it has been
seen that more or less people were quite satisfied with the bank they are
associated with. Among the few that are not satisfied was due to the failure
of value added service that was not given from bank’s side.

In this survey customer were almost satisfied with the services that are been
given to them.
After considering the fact of level of satisfaction, next comes the level of
dissatisfaction. The main reason for the dissatisfaction was of due to bad
customer services and high hidden cost. People complaint that their queries
are not listed and have not been sorted also the charges are not clearly
mentioned while opening account. Few CITIBANK customer complained that
the branch visit charges are never mentioned while account opening.
Once everything has been measured then a small marketing part of Standard
chartered products was there. In these questions it was asked whether
customers are interested in having any relationship with Standard Chartered.
In this question the respondents were not interested in opening account
because of high AQB and NRV also the reason was of less branches and
ATMs.
 Conclusion
As per the findings and analysis on saving account in different banks, it has
been found out that there is high variance in the Average quarterly balance
that is essential to be maintained. Almost all the banks have minimum
requirement of Rs. 10000 since their main targets are HNI class. For Standard
chartered also the main segment is the same. Also there is almost the same
levels of services that bank give to its customers but the difference is in the
banking hours and some in the amount of hidden costs that are there while
dealing with any bank.
Also to some banks, the benefits such as reward points and gifts on occasions
make them unique as compared to their competitors.

Recommendations:
1. The bank should try to improve the ATM services, as it one of the major
dissatisfaction factor for the bank or else bank should promote the fact
of free transactions across any bank.

2. Bank should make people aware about the basic concepts of saving
account and the benefits that can be derived out of it. Different
features of saving account as compared to the other banks should also
be promoted.

3. Also it was found that the customers don’t mind keeping high balance
in their saving account and bank should tap this by keeping a higher
AQB and reduce the charges of different services.

4. It has also been found that ATM is the most preferred source of banking
and bank should make more franchisees for the ATM cards as this will
help in generating more revenue through advertisements.

5. Apart from HNI’s other sections of society should also be targeted as

there are large banking opportunities that are untapped.
6. The customer satisfaction levels are lowest in Standard Chartered
among all banks so bank needs to work on its general image as such by
promoting itself tilted towards customers.

7. When we talk about the banking preferences of businessmen then they

are looking for nation wide service and wide network of ATMs because
of the nature of their thus the bank should work on this fact by making
its presence felt on a national level.

8. One very shocking result which has come out of our analysis is that as
the income of the customer rises his preference for our banks falls,
which is contrary to the bank’s objective thus the bank needs to check
on this result and work on factors responsible for the same which could
range from lack of concern shown by the bank to the fact that people
do not like the breach of privacy which private bank do my making calls
for other products of the bank on repetitive basis. Thus the bank needs
to respect this right of the customer and not make unsolicited calls to
them and also remember that they can no longer survive by taking
customer for a ride.

9. Though the bank offers free doorstep banking once a day fact is also
not known to many customers or they still do not trust this service
what ever the reason the bank can popularize this service to gain an
edge over nationalized banks.

10. One complain which really came up during the course of our
market research was that most of the customers felt that the sales
agents who approach them on behalf of the bank are not qualified
enough to perform the task for this esteemed bank and thus we
recommend that college student or fresh graduates from reputed
colleges can be hired on part time basis for this job.

11. Quality of service has been rated highly important by all

demographic factors as a reason for banking with a particular bank,
standard chartered needs to improve the services provided to its
existing customers before attracting more in the future and use word of
mouth as a promotional tool to increase the sales potential of its
savings account.
 APPENDIX
Questionnaire

IILM INSTITUTE OF HIGHER EDUCATION

QUESTIONAIRE ON SELECTION OF SERVICES IN BANKS

NAME……………………….
Phone No……………………
Question 1) what is your age?
a. 20-30 b. 30-40 c. 40-50 d. 50 and above
Question 2) what is your occupation?
a. Salaried b. self employed. c. Student d. Business
Question 3) what type of bank you are with?
a. Nationalized
b. Private
c. MNC
Question 4) please names the bank.
a. HDFC
b. ICICI
c. Standard Chartered
d. SBI
e. CITI BANK
f. Others. Please specify………………………………….
Question 5) what type of account you have with bank?
a. Saving a/c
b. Current account
c. Demat Account
d. Others. Please specify…………………………………..

Question 6) what are the areas of attraction?

a. 365 days banking
b. Phone banking
c. Internet banking
d. Doorstep banking
e. Multicity banking
f. Any other. Please Specify……………………………..
Question 7) how do you access your account with your bank?
a) Branch
b) ATM
c) Phone Banking
d) Internet
e) SMS
Question 8) Are you satisfied with the services provided by your bank
a. Very satisfied
b. Satisfied
c. Neutral
d. Dissatisfied
e. Highly dissatisfied
Question 9) what can be the reasons for dissatisfaction?

a) Hidden charges are high.

b) Slow transaction.

c) Lack of information

d) Bad customer services.

e) Others. Please specify……………

Question 10) Are you interested in opening account in standard chartered.
a. Yes b. No c. already have.
Question 11) Any areas of improvement you can mention to make your
satisfaction level higher.

REFERENCES

Websites
• www.standardchartered.com
• www.wikipedia.com
• www.google.com
Books
• Management of banks and financial Institutions by Justin Paul
• Financial Services by M Y Khan