Professional Documents
Culture Documents
Genesis
IndusInd Bank derives its name and inspiration from the Indus Valley civilisation -a
culture described by National Geographic as 'one of the greatest of the ancient world'
combining a spirit of innovation with sound business and trade practices.
Mr. Srichand P. Hinduja, a leading Non-Resident Indian businessman and head of the
Hinduja Group, conceived the vision of IndusInd Bank -the first of the new-generation
private banks in India -and through collective contributions from the NRI community
towards India's economic and social development, brought our Bank into being.
The Bank, formally inaugurated in April 1994 by Dr. Manmohan Singh, Honourable
Prime Minister of India who was then the countrys Finance Minister, started with a
capital base of Rs.1,000 million (USD 32 million at the prevailing exchange rate), of
which Rs.600 million was raised through private placement from Indian Residents while
the balance Rs.400 million (USD 13 million) was contributed by Non-Resident Indians.
A New Era
IndusInd Bank, which commenced its operations in 1994, caters to the needs of both
consumer and corporate customers. It has a robust technology platform supporting multichannel delivery capabilities. IndusInd Bank has 441 branches, and 796 ATMs spread
across 303 geographic locations of the country as on September 30, 2012.The Bank also
has 2 Representative offices, one each in London and Dubai.
The Bank believes in driving its business through technology. It has multi-lateral tie-ups
with other banks providing access to their ATMs for its customers. It enjoys clearing bank
status for both major stock exchanges - BSE and NSE - and three major commodity
exchanges in the country - MCX, NCDEX, and NMCE. It also offers DP facilities for
stock and commodity segments. The Bank has been bestowed with the mandate of being
a Settlement Banker for six tea auction centres.
RATINGS:
ICRA AA for Lower Tier II subordinate debt program and ICRA AA- for Upper Tier II
bond program by ICRA. CRISIL A1+ for certificate of deposit program by CRISIL.
CARE AA for Lower Tier II subordinate debt program by CARE. Fitch AA- for Long
Term Debt Instruments and Fitch A1+ for Short Term Debt Instruments by Fitch
Ratings.
Milestones
With over 18 years of Operating History
2012 - 2013
1st Runners- Up
o
2nd Runners-Up
o
Awarded The best bank award among small banks for IT for Operational
Effectiveness by Institute for Development and Research in Banking
Technology (IDRBT).
The CII Environmental Best Practice Award 2012 for the Most Innovative
Project
Awarded the status of Star Brand 2011 ICMR Star Brands of India Survey
2010 - 2011
Excellence Award as the 2nd best New Generation Bank in Kerala for the
second consecutive year awarded by the State Forum of Bankers Clubs,
Kerala
2009 - 2010
Awarded the "Best Priority Sector Bank" amongst the private sector banks
by Duns & Bradstreet
Excellence Award, the 2nd best new generation bank in Kerala by the State
Forum of Bankers Clubs, Kerala
2008 - 2009
Regulatory
clearance
for
113
new
branches
are
in
place
Tied up with BONY Mellon for on line remittances from United States to
India
2007 - 2008
GDR Issue - raised Rs 2,222 million; Ratings: ICRA Highest A1+ - CDs,
Crisil P1+: CDs, FDs
Extensive IT initiatives
2006 - 2007
2005 - 2006
2004 - 2005
2003 - 2004
Ashok Leyland Finance Ltd, a leading NBFC merged with the Bank (total
115 branches), opened representative office in Dubai
2002 - 2003
IndusInd Enterprises & Finance Ltd, a NBFC & one of the promoters of the
Bank amalgamated with the Bank
2001 - 2002
Tie ups with exchange houses in Middle East and banks in the United States
1994 - 2000
IPO - raised Rs 1,800 million, became clearing bank to First Commodities
Clearing Corporation of India
Brand
IndusInd Bank has been aggressive in its brand building program since last year.
As a part of the brand building exercise, the bank has taken many initiatives
which have helped the brand connect up with the customers & enhance the
visibility quotient. IndusInd Bank had launched its first ever mass media
campaign in May-June 2009 along with its punchline Makes you feel richer
and since then, the bank has been consistent in communication through
Television, Radio, and Outdoor & print advertising.
IndusInd Bank understands its customers money is not just money. It is the
vehicle to realise their dreams! Hence, the bank aims to ensure that the customers
experience with the bank is pleasant and enriching. That they get value for their
money, enabling them to lead a richer, fuller, content life... For this, the bank:
o
Further, as a banking partner, the bank also aims to help its customers discover
how they can do more things with their money.
In the recent advertising campaign, the Bank reinforces its focus on Innovative
banking based on the philosophy of Responsive Innovation. The bank is taking
responsiveness theme to customers and reinforces its commitment to give bestof-class services in the industry.
Engaged with all our stakeholders and will deliver sustainable and
compliant returns
MARKET SHARE
Types of Banks
State Bank of India and
Associates
Nationalized Banks
Domestic Private Sector Banks
New Domestic Private Sector
Banks
Foreign Banks
08
19
25
09
29
Table 1.1
Complementing the roles of the nationalized and private banks are the specialized
financial institutions or Non Banking Financial Institutions (NBFIs). With their focused
portfolio of products and services, these Non Banking Financial Institutions act as an
important catalyst in contributing to the overall growth of the financial services
sector. NBFIs offer loans for working capital requirements, facilitate mergers and
acquisitions, IPO finance, etc. apart from financial consultancy services. Trends are now
changing as banks (both public and private) have now started focusing on NBFC domains
like long and medium-term finance, working cap requirements. IPO financing to etc. to
meet the multifarious needs of the business community.
Commercial Financing
The commercial financing model in Indian banking can be broadly categorized into
project finance and working capital finance. These two segments form the pivot around
which banks operate.
Project Finance
Banks offer long term and short terms loans to business houses, corporations to setup
their projects. These loans are disbursed after the approval from the banks core credit
validating committee. In India, there are 11 national level land 46 state level financial
and investment institutions that cater to long term funding requirements of the industry.
The project finance segment is highly competitive with various players
Offering innovative schemes to entice corporate.
Working Capital
In order to meet the diverse needs and requirements of the business community, banks
offer working capital funds to corporate. Working capital finance is specialized line of
business and is largely dominated by the commercial banks. The Indian banking saw
dramatic changes in the last decade or so ever since the advent of liberalization and
Indias integration with the world economy. These economic reforms and the entry of
private players saw nationalized banks revamp their service and product portfolio to
incorporate new, innovative customer-centric schemes. The Indian banking finally woke
up to the surging demands of the ever-discerning Indian consumer. The need to become
highly customer focused (generated by high competitive levels) forced the slow-moving
public sector banks to adopt a fast track approach. Taking a leaf out of the private sector
banks, the public sector banks too went for major image changes (including corporate
brand building exercises) and customer friendly schemes. These customer friendly
programs included revamping of the product and service portfolio by introducing new
product & service schemes (like credit cards, hassle-free housing loan schemes,
educational loans and flexi-deposit schemes) integration of the branch network by using
advance networking technology and customer personalization programs (through ATMs
and anytime banking etc.). Many banks have started capitalizing on the recent stock
market surge by adding (Initial Public Offering) IPO financing options and schemes in
their product mix. IPO finance has received a positive response from the investors and
is becoming popular amongst the business community. The objective of all these
strategies was very clear to bridge the service & product gap that was inherent in the
banking system. To cater to the increasing customer demands and the surge in business
volumes, many public sector banks have ploughed back funds to invest heavily in
technology upgrades and
systems like LANs, WANs, VSATs etc. Marketing and brand building programs were
also given a new thrust in the new liberalized banking scenario. Promotional budgets
were hiked to cater to the new and large discerning target audience. Banks were now
keen on marketing their products and service though various mediums to reach their core
customers. Direct marketing, Internet marketing, hoarding, press ads, television
sponsorships, image makeovers etc. became an integral part of a banks marketing mix.
To meet the personalized needs of the customer and in order to differentiate its services,
banks repositioned themselves in specialized fields, like housing loans, car finance,
educational loans etc. to optimally service the customer. Permission marketing became
the new strategy that banks began to propound i.e. feeding the customer (with his or her
consent) with product and service information and thereby enticing him towards the
banks product service portfolio.
individuals rather than cater to the mass market. These well-chalked out integrates
strategy plans have allowed most of these banks to deliver superlative levels of
personalized services. With the Reserve Bank of India allowing these banks to operate
70% of their businesses in urban areas, this statutory requirement has translated into
lower deposit mobilization costs and higher margins relative to public sector banks.
Capital Market
Stock market volatility touches every participant directly/indirectly in the capital market.
General feeling is that the stock markets worldwide have become very fragile in the recent
past on account of various developments such as Asian crisis. Brazil Real fall and Russian
debacle. Many far-reaching stock reforms have been introduced in the Indian market for
the last few years. These reforms, in turn, changed market structure. Changing market
structure influences nature of stock price behavior.
C O M P E T I T I O N I N F O R M ATI O N
Ranking
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
BANK
CITY BANK
ICICI BANKING CORPORATION
HDFC BANK
AMERICAN EXPRESS
HSBC
STANDARD CHARTERED GRINDLAYS
STATE BANK OF INDIA
CANARA BANK
IDBI BANK
BANK OF AMERICA
ABN- AMRO BANK
GLOBAL TRUST BANK
BANK OF INDIA
CORPORATION BANK
BANK OF BARODA
DEUTSCHE BANK
PUNJAB NATIONAL BANK
BANK OF MAHARASHTRA
INDUSIND BANK
DENA BANK
BANK OF PUNJAB
BANK OF NOVA SCOTIA
CREDIT LYONNAIS
ANDHRA BANK
SYNDICATE BANK
UCO BANK
INDUSIND BANK
ORIENTAL BANK OF COMMERCE
BANK OF MADURA
KARUR VYSYA BANK
TAMILNADU MERCANTILE BANK
STATE BANK OF PATIALA
JAMMU & KASHMIR BANK
Table 1.4
Brand IndusInd Bank modern and dynamic look appeals to the growing middle
income earners
WEAKNESS
OPPORTUNITIES
THREATS
CHAPTER 2:
RESEARCH METHODOLOGY
The primary purpose of this study is to present a clear picture of how banking
started in India.
To increase the competition in this sector so that the common people has the
advantage of enjoying quality services at a reasonable cost
Insurance has a far reaching effect in synchronizing between the various service
sectors. So if this sector can grow, the prospects of the various other services
sector remains to be promising.
To make the private players responsible to the investors and not to the
government
sampling
technique
employed
was
Convenience
Sampling.
where Delhi
City was divided into 14 Area sample under five blocks of similar
Category
1.
Internet
2.
Newspaper
3.
Prospectus
The sample size of customers and prospects is fairly small and consistent
conclusions cannot be drawn on the information provided.
One major constraint was the small sample size as it may lead to slight
variations in the end result also the Personal loan Policy was later
modified and became more comepetitive which resulted in deviation.
A few customers were either quite reluctant to part with their precious
time or had problems in attaching weights and emphasis to different
attributes.
Customers in refinance cases were in direct contact with the dealers and
were more bothered with getting the delivery of the car rather than
handling the delays on availing the finance as it did not directly affect
them.
CHAPTER 3:
CONCEPTUAL DISCUSSION
market share, profit margins, budgets, financial analysis, capital investment, government
actions, demographic changes, emerging technology and cultural trends are also
addressed.
There are two major components to your marketing strategy:
1. how your enterprise will address the competitive marketplace
2. how you will implement and support your day to day operations
In today's very competitive marketplace a strategy that insures a consistent approach to
offering your product or service in a way that will outsell the competition is critical.
However, in concert with defining the marketing strategy you must also have a well
defined methodology for the day to day process of implementing it.
In the process of creating a marketing strategy, you must consider many factors.Since
each category must address some unique considerations, it is not reasonable to identify
'every' important factor at a generic level.However, many are common to all marketing
strategies.
You begin the creation of your strategy by deciding what the overall objective of your
enterprise should be. In general this falls into one of four categories:
If the market is very attractive and your enterprise is one of the strongest in the
industry you will want to invest your best resources in support of your offering.
If the market is very attractive but your enterprise is one of the weaker ones in the
industry you must concentrate on strengthening the enterprise, using your offering
as a stepping stone toward this objective.
If the market is not especially attractive, but your enterprise is one of the strongest
in the industry then an effective marketing and sales effort for your offering will
be good for generating near term profits.
If the market is not especially attractive and your enterprise is one of the weaker
ones in the industry you should promote this offering only if it supports a more
profitable part of your business (for instance, if this segment completes a product
line range) or if it absorbs some of the overhead costs of a more profitable
segment. Otherwise, you should determine the most cost effective way to divest
your enterprise of this offering.
next step is to choose a strategy for the offering that will be most effective in the
market.
Pricing : A pricing strategy is mostly influenced by your requirement for net income and
your objectives for long term market control. There are three basic strategies you can
consider.
A SKIMMING STRATEGY
If your offering has enough differentiation to justify a high price and you desire
quick cash and have minimal desires for significant market penetration and
control, then you set your prices very high.
Promotions : There are two basic promotion strategies, PUSH and PULL.
The PULL STRATEGY requires direct interface with the end user of the offering.
Use of channels of distribution is minimized during the first stages of promotion
and a major commitment to advertising is required. The objective is to "pull" the
prospects into the various channel outlets creating a demand the channels cannot
ignore.
There are many strategies for advertising an offering. Some of these include:
your offering stacks up well when comparing features then a product comparison
ad can be beneficial.
Corporate advertising
When you have a variety of offerings and your audience is fairly broad, it is often
beneficial to promote your enterprise identity rather than a specific offering.
Distribution :
On-premise Sales involves the sale of your offering using a field sales
organization that visits the prospect's facilities to make the sale.
Direct Sales involves the sale of your offering using a direct, in-house sales
organization that does all selling through the Internet, telephone or mail order
contact.
Self-service Retail Sales involves the sale of your offering using self service retail
methods of distribution.
Full-service Retail Sales involves the sale of your offering through a full service
retail distribution channel.
Emerging technology - Technological changes that are occurring may or may not
favor the actions of your enterprise.
Cultural trends - Cultural changes such as fashion trends and life style trends may
or may not support your offering's penetration of the market
The potential for market penetration involves whether you are selling to past
customers or a new prospect, how aware the prospects are of what you are
offering, competition, growth rate of the industry and demographics.
The prospect's willingness to pay higher price because your offering provides a
better solution to their problem.
The amount of time it will take the prospect to make a purchase decision is
affected by the prospects confidence in your offering, the number and quality of
competitive offerings, the number of people involved in the decision, the urgency
of the need for your offering and the risk involved in making the purchase
decision.
Whether some or all of the technology for the offering is proprietary to the
enterprise.
The benefits the prospect will derive from use of the offering.
The extent to which common introduction problems can be avoided such as lack
of adherence to industry standards, unavailability of materials, poor quality
control, regulatory problems and the inability to explain the benefits of the
offering to the prospect.
The competition :
It is essential to know who the competition is and to understand their strengths and
weaknesses. Factors to consider include:
Your enterprise :
An honest appraisal of the strength of your enterprise is a critical factor in the
development of your strategy. Factors to consider include:
The freedom of the enterprise to make critical business decisions without undue
influence from distributors, suppliers, unions, creditors, investors and other
outside influences.
Development :
A review of the strength and viability of the product/service development program will
heavily influence the direction of your strategy. Factors to consider include:
Personnel who understand the relevant technologies and are able to perform the
tasks necessary to meet the development objectives.
Production :
The following factors are considered:
The necessary production personnel skill level and/or the enterprise's ability to
hire or train qualified personnel.
The ability of the enterprise to control the quality of raw materials and production.
Marketing / sales :
Factors to consider include:
Sales promotion techniques such as trade allowances, special pricing and contests.
Customer services :
strength of the customer service function has a strong influence on long term market
success. Factors to consider include:
Experience of the Customer Service manager in the areas of similar offerings and
customers, quality control, technical support, product documentation, sales and
marketing.
One or more factors that causes your customer support to stand out as unique in
the eyes of the customer.
Conclusion :
Two of the most important assessments are described below.
1. Cost to enter market : This is an analysis of the factors that will influence your
costs to achieve significant market penetration. Factors to consider include:
2. Profit potential : This is an analysis of the factors that could influence the
potential for generating and maintaining profits over an extended period. Factors
to consider include:
Market potential for new products considering market growth, prospect's need for
your offering, the benefits of the offering, the number of barriers to immediate
use, the credibility of the offering and the impact on the customer's daily
operations.
The freedom of the enterprise to make critical business decisions without undue influence
from distributors, suppliers, unions, investors and other outside influences.
in
India.
With stiff competition and advancement of technology, the services provided by banks
have become more easy and convenient. The past days are witness to an hour wait before
withdrawing cash from accounts or a cheque from north of the country being cleared in
one month in the south.
The following are the major services provided by the Banks.
BANK ACCOUNT
Open bank account - the most common and first service of the banking sector. There are
different types of bank account in Indian banking sector. The bank accounts are as
follows:
Bank Savings Account - Bank Savings Account can be opened for eligible
person / persons and certain organisations / agencies (as advised by Reserve Bank
of India (RBI) from time to time)
Bank Term Deposits Account - Bank Term Deposits Account can be opened by
individuals / partnership firms / Private and Public Limited Companies / HUFs/
Specified Associates / Societies / Trusts, etc.
Bank Account Online - With the advancement of technology, the major banks in
the public and private sector has facilitated their customer to open bank account
card)
ABN
card
credit card
AMRO
Standard
credit
Chartered
ANZ - Gold
ANZ - Silver
International Credit
Bank
Of
India
Indiacard
Citibank
Citibank
Silver
Electronic
Credit Card
Bol - Gold
BoB - Exclusive
Club Card
BoB - Premium
HSBC - Gold
HSBC - Classic
Citibank - Gold
Citibank - Silver
Credit Card
Credit Card
Women
ICICI
Gold
Card
Solid
SBI Card
Stanchart - Gold
Stanchart - Executive
Stanchart - Classic
Debit Card
Debit
cards,
also
known
as
check
cards
look
card,
our
money
is
quickly
deducted
from
LOANS
Banks in India with the way of development have become
easy to apply in loan market. The following loans are given
by almost all the banks in the country:
Personal Loan
Home Loan
brilliance,
studying
at
recognized
MONEY TRANSFER
Beside lending and depositing money, banks also carry
money from one corner of the globe to another. This act of
banks is known as transfer of money. This activity is termed
as remittance business. Banks generally issue Demand Drafts,
Banker's Cheques, Money Orders or other such instruments
for transferring the money. This is a type of Telegraphic
Transfer or Tele Cash Orders.
It has been only a couple of years that banks have jumped
into the money transfer businessess in India. The international
money transfer market grew 9.3% from 2003 to 2004 i.e.
from US$213 bn. to US$233 bn. in 2004. Economists say that
the market of money transfer will further grow at cumulative
10.1% average growth rate through 2008.
With the use of high technology and varieties of product it
seems
that
"Free"
money
transfers
will
become
(automatic
teller
machine),
enable
to
draw
MOBILE BANKING
Mobile Banking is a service that allows customers to do
banking transactions on their mobile phone without making a
call , using the SMS facility.
Mobile Banking works on the 'Text Messaging Facility' also
called the SMS that is available on mobile phones. This
facility allows sending a short text message from mobile
phone instead of making a phone call.
All that is need to do is, to type out a short text message on
mobile phone and send it out to a specific mobile banking
number given by the bank .The response is sent as an SMS
message, all in the matter of a few seconds.
The following transactions are currently available across
India -
Bill Presentment
28.15
21.06
20.92
19.11
deposits / TDS
Pay bills
INTERNET BANKING
Internet banking is the technology that allows banking
customers to do the things they would normally do at their
services).
Bill Payment
Funds Transfer
Ticket Booking
Online Shopping
CHAPTER 4
DAT ANALYSIS
52
No
92%
-
8%
Graph 4.1
Figure 1
92% people out of 100 are aware of IndusInd Bank and 8%people are not
aware of IndusInd Bank.The IndusInd Bank was earlier known as UTI Bank,
and its name havs recently changed due to which the non metro awreness
about the bank is still has to improve. Bank is focusing on its presence by
opening new ATM and promoting Retail Assets.
53
2. Have you ever opted for services & products from IndusInd
Bank?
(a) Yes
61%
(b) No
39%
Graph 4.2
figure 2
61% out of 100 people have opted for services & products from IndusInd Bank
Customers are using its online banking policy that makes them enable to use the
following services: prepaid mobile recharge, e-statement, online shopping etc. Bank is
now focusing on Retail assets and has added new products like Personal loan, LAS,
Education loan , Agri Lending etc through which new customers are adding in total
portfolio.
54
19%
8%
42%
7%
(e) NBFC
12%
2%
(g) Others
10%
Graph 4.3
Figure 3
8%out of 100 having Personal loan from IndusInd Bank as Bank has started offering
personal loan to external customer only from Apr 2011.
55
4.
76%
14%
10%
Graph 4.4
Figure 4
76% out of 100 came to know about Personal loans offered by IndusInd Bank through
Advertisement.
10% out of 100 came to know through company/ friend
14% out of 100 came to know through word of mouth/ corporate relationship.
56
5. What made you select IndusInd Bank for opting Personal Loan?
Emi
Brand name
Procedures
Facilities
Policies
Advertisement
Foreclosure charges
Graph 4.5
Figure 5
52% out of 100 chose IndusInd Bank because of its 0% foreclosure charge and 26%
believe that the Rate of interset (EMI) offered to customer is lowest across industry
57
6.
68%
(b) Average
19%
(c) Bad
13%
Graph 4.6
Figure 6
68% out of 100 people find Marketing Strategies by IndusInd Bank as Good, as
currently bank is focusing on grabing the market by offering lowest intrest rate,
attractive schemes of 0% foreclosure and part payment option,
19% out of 100 people find Marketing Strategies by IndusInd Bank as Average,
and still believe that HDFC bank and SBI bank are better.
13% out of 100 people find Marketing Strategies by IndusInd Bank as Bad as they
believe in other secured loans like Gold loan, Loan against property offered at
much lower rates.
58
7.
What motivates you for selecting any bank for Personal loan.
(a) Rate of interest
42%
4%
(c) Procedures
9%
(d) Facilities
3%
(f) Policies
8%
34%
part payment
Graph 4.7
Figure 7
42%% people chose IndusInd Bank for its low rate of interest
59
8. Which Bank would you prefer if you have never applied for Personal
Loan?
(a) IDBI Bank
12%
17%
56%
7%
(e) GE Capital
5%
3%
Graph 4.8
Figure 8
Based on the current market offering and strategy 30% people would prefer
IndusInd Bank for Personal loans.
It is the second highest among other banks HDFC being the most preferable with
43%.
60
CHAPTER - 5:
FINDINGS & RECOMMENDATIONS
61
FINDINGS
It was found that all the branches have not been able to contribute their due share to
the overall growth of the bank.
About 14% of the branches have show decline in deposits levels whereas about 16%
of branches could not show even 5% growth in deposits.
It was also found that the market share of the Bank in deposits was l,6l/ in March
1999, which has been coming down and reached 1.22% in 2004. During 2004-2005
the growth in banks aggregate deposits was 1.09% as against the banking industry
growth of 1 7.29% which has resulted in to further slippage in Bank market share to 1
.6% in March, 2005.
There is a need for improving the corporate dealing as it is a necessary for the
survival of any organisation in the corporate world.
The bank requires aggressive advertising through the print and the electronic media,
as very less proportion of population is aware of Dena Bank.
Computerizations of all the branches should be done as early as possible.
To improve its accessibility, the bank should increase its ATM network.
The bank should initiate services like online trading and E-commerce.
The reasonable balanced growth of all the branches is necessary for overall
development of the Bank.
There is a need for improving the growth in Retail Banking because the pace of
growth in retail banking is very slow in spite of good product lines.
The NPA (Non Performing Assets) management should be the most crucial concern
area for the Bank, therefore the Bank should plan and implement certain corrective
measures to decrease its NPAs.
62
LIMITATIONS
Though IndusInd Bank seems to be ruling the roost in various segments of bank product
industry, findings suggest that its marketing strategies are not without loopholes. Let us
have a look at these loopholes or limitations in brief.
The pricing strategy adopted by IndusInd shows considerable fluctuation, which has led
the consumer base to remain almost stagnant in many segments. Usually, the prices of
these products are too high to make these affordable to the common masses and
particularly those belonging to low-income groups. This phenomenon seems to be most
evident in culinary goods segment, which constitutes the backbone of IndusInd industrial
base.
WHEN INTERPRETATING THE FINDINGS AND CONCLUSION OF THIS
RESEARCH STUDY READERS SHOULD TAKE INTO CONSIDERATION SOME
OF THE LIMITATIONS AS LISTED BELOW:
Although factors such as Respondent: Age, gender are not taken under
consideration when analyzing the data.
Due to Time and Resources limitation it will affect the results of findings
and thus the conclusion drawn.
63
RECOMMENDATIONS
IndusInd should work a bit more efficiently on its products pricing to cope
up with the rising competition in the market.
IndusInd should introduce some new products to target the other segment
of the customers to seek a greater market share.
People are not aware of wide variety of schemes offered by the company;
tend to think the company as only providing traditional banking services.
The competition in market is very high due to the private players.
64
CHAPTER - 6:
CONCLUSION AND SUGGESTIONS
65
CONCLUSIONS
Almost all the Banks offer similar features and facilities with their current account,
therefore for existing customers of Current Account of any Bank to shift to another Bank;
this is very rarely the criteria or reason.
The level of service in terms of delivering whatever is promised, fast response in case of
problems, is the most important benefit that the customers seek, from the Bank they have
a Current Account with.
Network reach and visibility of a Bank is a very important criterion for the customer
while opening a Current Account. We can also conclude from our analysis that network
reach in terms of Branches and ATMs is directly proportional to the market share in case
of Private Players.
In case of a new customer, if a bank approaches it first for opening a Current Account
with them, then there is a good chance for the bank of getting many future businesses and
cross sales from the deal.
Aggressive Marketing is the key to increasing the market share in this area, since the
market has a lot of potential both in terms of untapped market.
66
SUGESSTIONS
1. After completing my thesis i can say that IndusInd Bank is one of the top banks
performing in India.
2. It was started in 1955 and since then it has kept its dignity in spite of increasing
competition.
3. It has collaborated with certain foreign companies in order to increase its asset
value and goodwill. It has been dealing in many products like accounts, demats,
loans, cards etc.
4. The marketing strategies adopted by the bank are innovative and impressive.
Since majority of population stays in villages the bank has to explore the rural
markets also.
5. In addition to this the bank should have a branch in every city of the country. By
keeping a regular check the operating cost can be minimized.
6. The main aim of the bank should be bringing money from other countries to
India. From the findings it is clear that there is an intense competition in banking
industry and as a result prices are declining at a regular pattern.
7. The reason for this increasing competition is the increase in demand and
aggressive promotional campaigns done by the banks.
8. More stress should be given on marketing skills and customer dealing.
9. Rate of interest should be increased
10. Advertising should be used for big range of products and services.
11. More awareness should be emphasized
12. Fast processing should be done.
13. Proper training programs should take place to make the personnel more skillful.
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BIBLIOGRAPHY
The information has been derived from various reliable sources:
1. Books and authors:
Banking theory law and practices by Sundharam and Varshney
Research methodology by Kothari C.R.
Marketing research by Gupta S.L
Marketing Management by Phillip Kotler
Brand positioning by Subroto sengupta
Positioning: The Battle for your mind by Al Ries & Jack Trout
Ahluwalia, I.J. (1988). "Industrial Policy and Performance in India" in Lucas,
R.E.B. and G.F. Papanek (eds.) (1988). The Indian Economy: Recent
Development and Future Prospects. Delhi: Oxford University Press, pp. 151-162
Ahluwalia, I.J. (1996). "India's Opening up to Trade and Investment" in I.J.
Ahluwalia, Rakesh Mohan and Omkar Goswami, Policy Reform in India . Edited
by Charles Oman. Paris: OECD, pp. 17-41
AIAM (1999). Recommendations for Developing Indian Automotive Policy.
Association of Indian Automobile Manufacturers, New Delhi
2. Newspapers and magazines:
Economic times
Times of India
H.T
India Today
Business World
The Economist
3. Web-sites:
http://www.indusind.com
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http://www.IndusIndbank.com/xmlapplication/aboutus/financials/images/Annual-Report2008.pdf
http://www.IndusIndbank.com/xmlapplication/aboutus/financials/images/Annual-Report2007.pdf
69
ANNEX URE
QUESTIONNAIRE
Name: ____________________________
Age : _____________________________
Occupation: ________________________
Service
Profession
Business
Others
Have you ever opted for services & products from any other bank?
Yes
No
If Yes,
Which Bank have you taken from?
IDBI Bank
HDFC Bank
UTI Bank
CITI Bank
How did you come to know about the services & products?
Advertisement
Word of Mouth
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What made you select this particular bank for the services & products?
Convenient location
Procedures
Facilities
Working hours
Advertisement
71