BANKING SERVICES

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STUDY ON ESSENTIAL BANKING SERVICES:

STUDY ON ESSENTIAL BANKING SERVICES

GROUP MEMBERS :

GROUP MEMBERS Nishant Mishra MBA/1029/2010 Ravi Kumar Goyal MBA/1061/2010 Hrishikesh Kr. Singh MBA/1065/2010 Ganesh Prasad MBA/1112/2010

BANK:

BANK A bank is a financial institution that serves as a financial intermediary . Types of bank Central Bank Commercial Bank Saving Bank

INDUSTRY PROFILE:

INDUSTRY PROFILE Banks are the Financial backbone of economy . A bank is a financial institution that deals with money and credit. From past three decades the India’s banking system has several outstanding achievements to its credit. The first bank in India was established in the year 1786 .

JOURNEY OF INDIAN BANKING SYSTEM:

JOURNEY OF INDIAN BANKING SYSTEM Phase 1 :Early phase from 1786 to 1969. Phase2 : Nationalization of banks up to 1991 prior to Indian banking sector reforms. Phase 3 : New phase of Indian banking system with the advent of Indian banking and financial reforms after 1991.

NATURE AND SCOPE OF BANKING ACTIVITIES:

NATURE AND SCOPE OF BANKING ACTIVITIES Money deposited in a bank remains safe. Precious articles too can be kept in the safe custody of banks in lockers. Banks provide credit facilities to their customers. Customers with bank accounts also enjoy better credit in the business world. Banks encourage the habit of saving and thrift among people. Banks provide a convenient and safe means of transferring money from one place to another and facilitate business dealings/ transactions. Banks collect and realise bills, cheques, interest and dividend warrants etc. on behalf of their customers.

SERVICE ACTIVITIES :

SERVICE ACTIVITIES Service activities of banks may be categorised as follows: Agency services General services

AGENCY SERVICES :

AGENCY SERVICES Collection of cheques, drafts, and bills of exchange on behalf of customers. Collection of dividend and interest warrants of customers. Collection of pension of government employees. Purchase and sale of securities on the instructions of customers. Executing standing orders for payment of rent, electricity bill, insurance premium etc. Acting as correspondent or representative of customers in dealing with other banks. Acting as trustee or executor when so nominated.

GENERAL SERVICES:

GENERAL SERVICES Issue of letters of credit, traveller’s cheques and circular notes. Safe custody of valuables like gold, jewellery and important documents in safe deposit vaults (lockers) available on hire. Supply of trade information. Acting as a referee as regards financial status of customers. Acceptance of bills of exchange on behalf of customers. Underwriting loans floated by government and public bodies.

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PERSONAL BANKING : CORPORATE BANKING: savings account trade finance term deposits retail assets Safe deposit locker transaction banking loans investments convenience banking car finance cards BUSINESS: NRI SERVICES: business solutions privy league current accounts wealth management personal loans PRODUCTS

OBJECTIVE OF STUDY:

OBJECTIVE OF STUDY To find the services provided by bank. To find the expectation of customers from their bank. To find the satisfaction level of customer. To find an innovative idea which will help the bank to increase their business.

SCOPE OF STUDY :

SCOPE OF STUDY The study will help to find the gap between the bank and their customers. To create awareness about the various banking services to their customers.

SURVEY:

SURVEY Survey Area : Kutchahery Chowk , Ranchi Sample Size : 50 Focused Bank : SBI main branch

AREA OF SURVEY: KUTCHERY CHOWK RANCHI:

AREA OF SURVEY: KUTCHERY CHOWK RANCHI Densely populated area. It located in the centre of Ranchi. Court, CCL, CMPDI. Bank operated in Kutchery : Union Bank Bank of India State Bank of India ICICI Bank Allahabad bank

QUESTIONNAIRE :

QUESTIONNAIRE Q.1 From which profession you belong? Advocate Businessman Service Holder Others

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Q.2 Why do you need a bank? Saving Account Salary Account Current Account Others

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Q.3. Which Bank you prefer? State Bank of India Allahabad Bank Bank of India ICICI Bank Others

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Q.4 Which of the services you uses the most? Loans Fixed Deposit Locker Transactions Others

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Q.5 Rate the banking services in terms of satisfaction. Highly satisfied Satisfied Neutral Dissatisfied Highly Dissatisfied

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Q.6 Which type of problem you faced while visiting bank? More Paper Work Time Consuming Procedure Employee Attitude Communication Gap

FINDINGS :

FINDINGS Most of the customers prefer SBI. Poor CRM with common people. Lack of awareness about services. Customers are not updated with technology. Long processing time. (draft, loan, etc)

SUGGESTIONS:

SUGGESTIONS Maintain good CRM To create awareness about modern banking To extend the working hour for service holders Implement KYC norms properly. To reduce the processing time.

LIMITATIONS:

LIMITATIONS Time constraints. Money Constraints. Human resource.

REFERENCES:

REFERENCES

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