Market Evaluation of Financial Products of Standard Chartered Bank1

MARKET EVALUATION OF FINANCIAL PRODUCTS OF
STANDARD CHARTERED BANK
Industry guide: Mr. Harish Dua.

Faculty guide: Mr. Ajay Varade.
Submitted by –
Name : Swati Buttan

Class : BBA (B & I)
Enrollment no. : 0611221806
Delhi College of Advance Studies

(Affiliated to Guru Gobind Singh Indraprastha University)
ACKNOWLEDGEMENT
I express my sincere thanks to the management of Standard Chartered Bank,

Karol Bagh, New Delhi, for providing me an opportunity to undergo
summer training in their esteem organization.
My success at Standard Chartered Bank was because of the contribution and
guide provided to me by the Bank itself. My sincere acknowledgements are
due to them.
I express my gratitude to Mr. Harish Dua (Territory Manager-Wealth

Management) for providing me necessary information and guidance during
my training period. The Project was completed successfully with his
valuable cooperation.
My heartfelt thanks are also towards my faculty guide Mr. Ajay Varade
without whose help and enthusiasm the project would not have been
materialized in the present form.
The learning from this experience has been immense and`` would be
cherished throughout life.
Last but not least I would like to thank all the respondents for giving their
precious time and relevant information and experience, I required, without
which the Project would have been incomplete.
EXECUTIVE SUMMARY
The central bank of India is the Reserve Bank: most large commercial banks
were nationalized in 1969, with more being nationalized in 1980. The
Department of Banking at the Ministry of Finance controls all banking. The
State Bank of India, the largest commercial bank, handles some of the
Reserve Bank’s roles. Cooperatives and credit societies are an important
supplement to the private banking industry, especially in rural areas.
The Entry of Foreign Banks in the Early 1990’s has brought about a
Revolution in the Banking industry. The superior service levels of these
Banks have forced even the Nationalized Banks to wake up to the reality that
if they do not live up to the customer’s expectation they will soon cease to
exist.
Indian Banking Industry today is in the midst of an IT revolution.

Combinations of regulatory and competitive reasons have led to increasing
importance of total banking automation in the Indian Banking Industry.
Earlier profitability gained only secondary importance, since banks lived in

the comfort of a controlled environment. However, today banks cannot
survive only with the Government support. They have to set goals of
profitability along with service and set targets and evolve strategies to reach
them.
The first change along this line was brought in by the foreign banks with
their emphasis on high quality and efficient service combined with
technological advantages like satellite banking and tele-banking manned by
skeletal staff and lesser number of branches.
Further, development of special manpower, innovative products, technology
exploitation and personalized services play a crucial role on the banking
industry today, since the customer has more options in choosing bank. Thus
leading to consumerism in the banking sector. Also, since customers are
becoming more sophisticated and educated, their expectation from the
neighborhood bank is increasing.
To sum, the new private sector banks are poised to redefine banking sector
in India. Though they don’t pose a threat to the existing private banks they
will certainly force them to gear up their strategies to remain in the field.
The last few years have seen a sea change in banking strategies, with more
focus on quality. The adoption of a specialized customer-oriented focus is
fast getting wider acceptability. In a market that keeps growing in depth and
diversity, niche banking is new mantra adopted by all. Thus, instead of
targeting an entire market segment, banks have adopted a specific business
focus to reach their target audience.
Over the last few years, the communication style too has changed with
respect to the banking industry. Further, branding of banking products
such as home loans, consumer durable loans, tele banking, ATMs, net
banking etc have started taking place, especially after the entry of foreign
banks and private sector banks which had the advantage of the latest
technology.
Standard Chartered Bank is the largest international banking group in India
with an employee base of nearly 3500 people across the country. It has the
largest branch network all over India (83 branches in 23 cities) amongst all
international banks in India. With over 2.3 million retail customers, and a
credit card base of 1.3 million, the Bank is a leader in consumer Banking
business.
The graph below shows the Market share of the Nationalized and Private
Banks in India and the share of Standard Chartered Bank.
Market Share
Private/Foreign Standard
Banks Chartered Bank
4% 1%
Nationalized
Banks
95%
The Aim of Standard Chartered Bank is to increase its market share by

capturing the customers of the Other Private Banks and the Nationalized
Banks. The share can also be increased if the Bank is successful in
convincing new people (children, students, etc) to hold accounts with the
Bank.
Thus the thesis report continues with the introduction of banking sector in
India with description of Standard Chartered products taking into
consideration their various products and services with their promotion,
marketing and advertising. At last the report depicts the conclusions and
recommendations followed by the appendices and bibliography.
Contents
1) Objective of the project

2) Methodology
3) Introduction
4) A brief history of Standard Chartered Bank.
5) Products offered by Standard Chartered
6) Multiple Delivery Systems.
7) Strategic analysis’s of Standard Chartered
8) Analysis of survey conducted of Standard Chartered
9) Analysis of survey conducted of other banks
10) Positive aspects of Standard Chartered
11) Conclusion
12) General findings
13) Suggestions
14) Different banks
15) Bibliography
16) Appendix
OBJECTIVES
Various Objectives for conducting the research and analysis

are listed as under:
1. Access the Market Potential of Standard Chartered Bank Saving Account
with the help of a survey conducted on a total of 155 Respondents (50-
Standard Chartered Bank customers , 105-Other Banks customers).
2. Study how new distribution channels such as Internet Banking, ATM
facility, Phone Banking have changed the face of the Banking industry.
3. Study the impact of a customer centric approach being followed by the
Bank, and what is its benefit.
4. Compare the services offered by Standard Chartered Bank and the
customer’s satisfaction level of the same with that of other Banks in the
Private and Government sector, and to access where the Bank has to
improve.
5. Consideration of various promotional and marketing and advertising
strategies of Standard Chartered to the satisfaction among its ultimate
users and consumers.
6. Finally to draw the various conclusion and recommendations on the basis
of the study conducted on specifically taking to consideration the
services, advertising and marketing strategies of the Bank.
Methodology
1) Initially raw data collection enables us to see the prevailing situation

and take an action of improvement accordingly. Thus collection of
raw data is indispensable to gather any kind of information for further
analysis and accordingly taking a decision.
Raw data Information
2) As per the requirements the questionnaire was prepared and a market

survey was done.
Process ……
1. Gaining knowledge about the product:

Reading about the product was the first step undertaken. This gave not
only in depth knowledge about what is been offered by the bank but
also proved useful while developing the questionnaire.
Steps in the Development of the Survey Instruments

The main instruments required for survey was a well-developed
questionnaire. The questionnaire development took place in a series of
steps as described below:
Research objectives are being transformed

Step 1 into information objectives.
The Appropriate data collection methods have

Step 2 been determined
The information required by each objective is

Step 3
being determined.
Step 4 Specific Questions/Scale Measurement format is
developed.
Question/Scale Measurements is being

Step 5 evaluated.
The number of information needed is being

Step 6 determined.
The questionnaire and layout is being evaluated.

Step 7
The Questionnaire format is being finalized.

Step 8
2. Customer Survey:
The people play an important part as a clear perception of people
about the product can be estimated and known. Studying the need
levels of the people regarding the banking product can be observed. It
was very useful in knowing about the requirements of the people.
3. Referred to brochures and websites of competitors:

To understand the competitors product brochures and websites of
various banks were referred and a competitive analogy of all the rates
and necessary features of the Savings account is been made. The table
is been attached in the Appendix.
Introduction
Banking, transactions carried on by any individual or firm engaged in

providing financial services to consumers, businesses, or government
enterprises. In the broadest sense, banking consists of safeguarding and
transfer of funds, lending or facilitating loans, guaranteeing
creditworthiness, and exchange of money. Such institutions as commercial
banks, savings banks, trust companies, finance companies provide these
services, and merchant banks or other institutions engaged in investment
banking. A narrower and more common definition of banking is the
acceptance, transfer, and, most important, creation of deposits. This
includes such depository institutions as commercial banks, savings and
loan associations, building societies, and mutual savings banks. All
countries subject banking to government regulation and supervision,
normally implemented by central banking authorities. For further
information on central banks and investment banking, see the relevant
articles. The money a bank receives as deposits from both individuals and
large companies becomes a bank’s liability. The bank receives assets in the
form of the interest it charges on loans made to governments, businesses,
and private individuals. The chart above depicts how this process works.
Interest given on savings accounts, a percentage return on the bank’s
investments with the money, gives an additional incentive to save. Transfer
of funds can be handled through negotiable instruments, cheques, or direct
transfers performed electronically. Credit cards and account debit cards,
electronic cash tills, computer online banking, and other services provided
by banks extend their usefulness by offering customers additional ways of
gaining access to and using their funds. Automated clearing houses
perform similar services for business customers by handling regular
payments, such as wages, for a company banking with the bank. Longer-
term schemes for providing regular income on savings are often offered
through trust funds or other investment schemes.
Loans to bank customers are drawn on the funds deposited with the bank
and yield interest, which provides the profits for the banking industry, and
the interest on savings accounts. Banks also provide foreign exchange
facilities for individual customers, as well as handling large international
money transfers. Investment banks engage chiefly in financing businesses
and trading in securities.
A BRIEF HISTORY OF STANDARD CHARTERED BANK
The Standard Chartered Group 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 capitalise on the huge expansion of trade and to
earn the handsome profits to be made from financing the movement of
goods from Europe to the East and to Africa.
The Chartered Bank
• Founded by James Wilson following the grant of a Royal Charter by

Queen Victoria in 1853.
• Chartered opened its first branches in Mumbai (Bombay), Calcutta
and Shanghai in 1858, followed by Hong Kong and Singapore in
1859.
• Traditional business was in cotton from Mumbai (Bombay), indigo
and tea from Calcutta, rice in Burma, sugar from Java, tobacco from
Sumatra, hemp in Manila and silk from Yokohama.
• Played a major role in the development of trade with the East which
followed the opening of the Suez Canal in 1869 and the extension of
the telegraph to China in 1871.
• In 1957 Chartered Bank bought the Eastern Bank together with the
Ionian 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, South Africa, 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.
In 1969, the decision was made by Chartered and by Standard to undergo a
friendly merger. All was going well until 1986, when a hostile takeover bid
was made for the Group by Lloyds Bank of the United Kingdom. When the
bid was defeated, Standard Chartered entered a period of change. Provisions
had to be made against third world debt exposure and loans to corporations
and entrepreneurs who could not meet their commitments. Standard
Chartered began a series of divestments notably in the United States and
South Africa, and also entered into a number of asset sales.
From the early 1990s, Standard Chartered has focused on developing its
strong franchises in Asia, the Middle East and Africa using its operations in
the United Kingdom and North America to provide customers with a bridge
between these markets. Secondly, it would focus on consumer, corporate and
institutional banking and on the provision of treasury services - areas in
which the Group had particular strength and expertise.
In the new millennium we acquired Grindlays Bank from the ANZ Group
and the Chase Consumer Banking operations in Hong Kong in 2000. Since
2005, we have achieve several milestones with a number of strategic
alliances and acquisitions that will extend our customer or geographic reach
and broaden our product range.
Business & Strategy

Our business
Listed on both the London Stock Exchange and the Hong Kong Stock
Exchange, Standard Chartered PLC is consistently ranked in the top 25
FTSE 100 companies by market capitalisation.
By combining our global capabilities with deep local knowledge, we

develop innovative products and services to meet the diverse and ever-
changing needs of individual, corporate and institutional customers in some
of the world's most exciting and dynamic markets.
Personal Banking
Through our global network of over 1,700 branches and outlets, we offer
personal financial solutions to meet the needs of more than 14 million
customers across Asia, Africa and the Middle East.
SME Banking
Our SME Banking division offers a wide range of products and services to
help small and medium-sized enterprises manage the demands of a growing
business.
Wholesale Banking
Headquartered in Singapore and London, with on-the-ground expertise that

spans our global network, our Wholesale Banking division provides
corporate and institutional clients with innovative solutions in trade finance,
cash management, securities services, foreign exchange and risk
management, capital raising, and corporate finance.
Islamic Banking
Standard Chartered Saadiq's dedicated Islamic Banking team provides

comprehensive international banking services and a wide range of Shariah
compliant financial products that are based on Islamic values.
Private Banking
Our Private Bank advisors and investment specialists provide customised

solutions to meet the unique needs and aspirations of high net worth clients.
What we 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 we can leverage our

relationships and expertise
• Competitive positioning
Combining global capability, deep local knowledge and creativity to

outperform our competitors
• Management Discipline
Continuously improving the way we work, balancing the pursuit of

growth with firm control of costs and risks
Commitment to stakeholders
• Customers
Passionate about our customers' success, delighting them with the

quality of our service.
• Our People
Helping our 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 we are.
Standard Charted Bank – a Constitution of :

1. People : Standard Chartered employs 73,000 people in more
than 70 countries and territories worldwide. Our culture is
centred on diversity and inclusion - key strengths that fuel our
success.
2. Our board of directors : Our leaders reflect the diversity that
drives Standard Chartered's success and makes us one of the
world's most international banks.
3. Our global team : As we grow and evolve, our commitment
remains the same - to get the best out of the broadest spectrum
of people, making sure that every individual feels valued for the
strengths they bring to Standard Chartered.As a global team, we
represent more than 115 nationalities - our 500 most senior
employees come from over 61 different countries.Our primary
focus is on three strands of diversity - gender, nationality and
disability, with a particular emphasis on visual impairment.
Overall, our male to female employee ratio is roughly 50:50.
16% of our senior managers are women and our aim is to
balance this figure over the next few years.
4. Principles & Values : At Standard Chartered our success is built
on teamwork, partnership and the diversity of our people.At the
heart of our values lie diversity and inclusion. They are a
fundamental part of our culture, and constitute a long-term
priority in our aim to become the world's best international
bank.Today we employ 73,000 people, representing 115
nationalities, and you'll find 61 nationalities among our 500
most senior leaders. We believe this diversity helps to fuel
creativity and innovation, supporting the development of
exciting new products and services for our customers
worldwide.
Financial Products offered by Standard Chartered
CURRENT ACCOUNTS : An account opened and operated primarily

by corporate for Commercial use, wherein the number of
transactions are much Higher than a normal savings account.
No interest is paid on these accounts.
ELIGIBILITY
• Resident Indians
• Sole proprietorship concerns
• Partnership Firms
• Associations/ societies
• Public and Pvt. Ltd. companies
• HUF
• Foreign nationals/ liaison offices (QA 22)
BALANCE REQUIREMENTS
• Minimum average quarterly balance of Rs. 50000/-.
• Failure to maintain minimum average balance attracts a ledger
fees of Rs. 300 per quarter.
PRODUCT FEATURES
• High liquidity
• Unlimited transactions
• Zero interest
• Any branch banking
Different Current Accounts:
Business Plus Current Account
• FREE National Electronic Funds Transfer

• FREE Demand Drafts & Pay Orders at our branch locations.
• Demand Drafts on over 470 correspondent bank locations at just
0.15% of draft value.
• FREE Payable at par chequebooks
• FREE Outstation cheque clearing on our branch locations
• FREE NetBanking
• FREE Phone banking
• FREE Anywhere Banking
• Doorstep Banking
• International Debit card including Gold Debit card
• RTGS facilities
The Standard Chartered Bank’s Business Plus current account is a powerful

banking tool that gives your organization a host of benefits enumerated
below:
 FREE Demand Drafts on our branch locations: As a Business

Plus customer, you can now avail of drafts & pay orders payable at
any of our branches up to 75 a quarter.
 FREE Payable at par cheques: You can issue cheques payable at
par at any of our branch locations, FREE of cost.
 FREE National Electronic Fund Transfers: Now, transfer funds
seamlessly to accounts in over 67 banks and 28000 branches across
India. The funds can be transferred within 24 hours*.
 FREE Anywhere Banking facility: You can conduct your
banking transactions from any of our branches spread across the
country, irrespective of the branch where your account was
opened.
 Get your 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: You now have an
opportunity to avail of drafts on over 470 locations, at most just
0.15% of the draft value.
 Quick transfer: You can transfer funds between your accounts
with our bank – almost instantaneously and FREE!
 Doorstep Banking: You can 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.
 FREE Internet Banking: Access your 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 your account from the comfort of
your home / office. You can get account information, request for
drafts, give stop cheque instructions, transfer funds and do much
more with just one phone call. Anytime of the day.
 Debit Card with aXcessPlus benefits: You can now get access
(upto 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.
 Real Time Gross Settlement facility offered: You will be able to
instantaneously transfer your funds to accounts in other banks
using this facility.
You will need to maintain a minimum average quarterly balance of Rs.

1,00,000 to avail of the facilities of the Enhanced Business Plus 100 Current
Account.
Enhanced Business Plus Current Account (EBP 1000)
• FREE National Electronic Funds Transfer

• FREE Demand Drafts & Pay Orders at our branch locations
• FREE Drafts on correspondent bank locations upto Rs. 75 lakhs per
month
• FREE Payable at par chequebooks
• FREE Outstation cheque clearing on our branch locations
• FREE Net Banking
• FREE Phone banking
• FREE Anywhere Banking
• FREE Doorstep Banking
• RTGS facilities
• International Debit card including Gold Debit card
• Priority Banking program*
• No commissions on Travelers’ Cheques
You will need to maintain a minimum average quarterly balance of

Rs. 10, 00,000 to avail of the facilities of the Enhanced Business Plus 1000
Current Account.
The Standard Chartered Bank’s Enhanced Business Plus 1000 Current

Account is a powerful banking tool that gives your organization a host of
benefits enumerated below:
 FREE Demand Drafts on our branch locations: As an Enhanced

Business Plus customer, you can now avail of drafts & pay orders
payable at any of our Standard Chartered Bank branches.
 FREE Drafts on correspondent bank locations: You now have
an opportunity to avail of free drafts drawn on over 470 locations,
up to a limit of Rs. 75 lakhs per month.
 FREE Payable at par cheques: You can issue cheques payable at
par at any of our branch locations, free of cost.
 FREE National Electronic Fund Transfers: Now, transfer funds
seamlessly to accounts in over 67 banks and 28000 branches across
India. The funds can be transferred within 24 hours*.
 FREE Doorstep Banking: You can 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.
 FREE Anywhere Banking facility: You can conduct your
banking transactions from any of our branches spread across the
country, irrespective of the branch where your account was
opened.
 Get your 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: You can transfer funds between your accounts
with our bank – almost instantaneously and free!
 FREE Net Banking: Access your 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 your account from the comfort of
your home / office. You can get account information, request for
drafts, give stop cheque instructions, transfer funds and do much
more with just one phone call. Anytime of the day.
 Debit Card with aXcessPlus benefits: You can now get access
(upto 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.
 Real Time Gross Settlement facility offered: You will be able to
instantaneously transfer your funds using this facility.
 Priority Banking: You have the opportunity of availing of the
benefits and privileges of the Priority Banking program.
Membership to the Priority banking program is by invitation only.
SAVING ACCOUNT:
An account primarily opened for & operated by individuals , wherein

the number of transactions are few and which give the customer
liquidity , with the facility to earn some interest on the residual
balances.
Purpose and Description :
1. The savings accounts is a transaction account wherein a

deposit is placed with the bank for an unspecified period
of time.
2. The depositor can withdraw the money whenever required
through any of the following means:
Withdrawal slip, cheques, transfer, through an ATM or Debit Card,
standing instructions, remittances or by making purchases made on a
linked Debit Card at merchant establishments.
Interest Paid :
• Interest on the is determined in accordance with directives of

the Reserve Bank of India.
• The current rate is 4% .
• Interest is calculated on the minimum credit balance between
the close of the business on the 10 th. & the last day of each
calendar month.
• Interest is paid on quarterly rests.
Eligibility :
• Individuals
• Trusts / Societies / Charitable Organisation
• HUF’s ( for individuals for the sole purpose of savings & not
for the purpose of business )
• Resident Indians & Foreign Nationals.
Product Features :
• Account can be in Sole name or joint names.

• Average Quarterly Balance
• Average quarterly balance of Rs.10,000 to be maintained.
• Non - maintenance of AQB attracts a ledger fees of Rs.750/- per
quarter.
• Transaction oriented account : Mode of transaction is through
Cheque books, ATM Card or Debit Card.
• Account can be operated at any of our branches across the
country , 365 days a year from 10 A.M -7 P.M.
Saving Account Product Offering :
• aXcess Plus Saving Accounts

• Super Value Savings Accounts
• – in – one aXcess Plus Account
• Corporate Executive Account
• aXcess Plus Saving Account
‘‘The power of accessing your account . Anywhere , Anytime.’’

A power packed savings account , which is an innovative &
convenient solution for all banking needs of the customer . It comes
with a globally valid ATM – cum –debit – card , which allows one to
access money from any bank’s ATM’s , that has a VISA ELECTRON
sign. Thus, in addition to Standard Chartered bank ATM’s the
customer has a power of accessing his account from the ATM’s of
other banks as well . In addition , the Debit Card can even be used to
make purchases anywhere in India & abroad from outlets that display
the VISA ELECTRON sign , which includes over 25,000 outlets in
India & over 10 million outlets worldwide . It is even accompanied by
special offers & discounts that help the customer get more from his
money.
ATM-cum-Debit Card
• Product: Deposits access card which provides ATM access and

purchase functionality at merchant outlets. The caption is “Buy-
now-pay-now” product.
• Positioning: Packaged into aXcess Plus savings account to
provide unparalleled account access.
• Charges Associated:
• Annual charge of Rs 100
• Over and above four free transactions from a competitor bank
ATM, a charge of Rs 50/transaction would be levied.
• In case of non-maintenance of average quarterly balance in the
account, every transaction from a different bank ATM would
attract charges of Rs 50/ transaction.
• Key Features: Visa Electron Card.
• Key Competition: HDFC Bank, ICICI Bank, Citibank and HSBC.
Features:
• Deposit access card : Provides access to the account through

ATM’s and through purchase at merchant outlets.
Amount withdrawn or the purchase amount is directly debited to
the account.
• Visa Electron franchise.
• Globally valid card.
• Accepted at over 25000 merchant outlets in India and at over 10
million outlets worldwide.
• Accepted at over 2400 ATM’s in India and at over 6,50,000
ATM’s worldwide.
• Works as a fully functional ATM card at the bank’s own
ATM’s.
• Comes with a lost card insurance of Rs 50,000
• The goods purchased through the Debit card are automatically
protected against theft or fire upto the limit of Rs 15,000.
Super Value Savings Account
A savings account where the Average Quarterly Balance to be

maintained is Rs 50,000 and a whole lot of value added services are
offered free of cost which otherwise would be charged in case of a
normal aXcess plus savings account.
• Product: Upgrade savings account.
• Positioning : a savings account that gives you more value for
your money.
• Average quarterly balance : Rs 50,000
• Key Features : Free debit card, basket of free services and
discounts.
• Target Customers : customers who wish to upgrade from a basic
savings account and enjoy convenience banking.
• Key Competition : Citibank and ABN-AMRO
KEY FEATURES
• Free Debit Card.

• Free Demand Drafts/ Pay Orders
• Free ATM- cum-Debit Card
• Free cash delivery
• Free Draft delivery
• Free Payable at par cheques
• Free FIRC’s
• Free investment advisory services
• Free standing instructions
• Free remittances
• All other features and benefits of the aXcess Plus saving account
• Free accidental policy of Rs.2.5 Lakhs
Documentation requirements for opening a Savings Account

with the bank
The following documents are required to open an account:

1. Duly completed account opening form
2. A Signature card for each of the applicants.
3. A photograph of each of the applicants with a signature on the
reverse.
4. Duly filled in nomination form DA1 (wherever applicable).
5. Debit Card Photo/Picture Card application, if applicable(with
photograph of the applicant)
6. An introduction is always required for the applicant/s.
7. Documents for Room Service- Sign up form, Indemnity form,
Resolution to open the account and transact through Room
Service.
Any combination of the following documents confirming the Name ,

Signature and Address on the application form is valid:
Document Identity Signature Address

Passport   
Driving License   
PAN Card   No
Ration Card(applicant No No 
is not he mukhiya)
Govt or Defence ID   
Card(may vary from
card to card)
• Our People Helping our people Communities Trusted
to grow, enabling and
individuals to make caring,
a difference and dedicated
teams to win to making
a
difference
• Investors A distinctive Regulator
investment
delivering
outstanding
performance
and superior
returns
Exemplary governance
and ethics wherever
we are
Self cheque(min No  No
amount Rs 1000)
Banker’s Verification No No No
of Signature
Investment Services offered By Standard Charted

Standard Charted Bank, using over 150 yrs of expertise, promises you to
guide you through the world of exciting new investment opportunities in
India and overseas.
From shortest term deployment of funds to planning your retirement, w

pledge to got the extra mile to ensure that you reach your chosen financial
goals.
• Standard Charted plus Bajaj Alliance.
• Dealing in 4-5 products.
• Product with insurance cover.
• Investment products (saving a/cs plus insurance).
Investment plans plus Insurance Covers.
Young Care Plan :
1. 100% credit.
2. 1st year 60% charges and 40% investment.
3. 50 thousand investment per year.
4. Insurance cover of 5 lakhs.
5. Time period 10yrs ( 3 yrs compulsory).
6. Customer is going to pay upto 3 yrs if died.
7. If alien, 10 yrs premium of 50 k.
8. Covers inflation rate every year.
9. Premium * max = paying capacity. , *min = 20 k.
10.Mode of payment annually.
New Unit Gain Plus : Flexible Investments were never so easy.
1. Guaranteed Life Cover

2. Partial and full withdrawals after 3 years.
3. 3 years mandatory.
4. 3 terms – 15, 20, 25.
5. Age of maturity. *max = 65, * min = 40.
6. Return Allocation = 45%
7. 100% - 200% credit.
8. Current return 30- 40%
9. Not less than 18-20% return.
Century Plus Plan :
1. Take 10 yrs compulsory.

2. Allocation 98%.
3. 25% credit.
4. Very simple plan.
5. Minimum 50 k premium.
Future Secure Plan :
1. Minimum term 5 yrs.

2. Age Limit. * min = 18, *max = 65.
3. Pension to wife after death of husband.
4. 10 lakh growth.
5. 1/3 total cash given , rest amount in pension.
New Secure First : An investment plan which offers double

advantage with flexibility.
1. This flexible unit linked life insurance plan provides you

protection and participation in market-linked returns.
2. Double benefit of sum assured + fund value in case of demise.
3. Choice of 5 investment options, 3 free switches and premium
redirection option.
Bajaj Allianz Care First : A medical insurance plan that allows

you to renew till the age of 65 yrs. Premium guaranteed for the
length of each policy term of 3 yrs.
1. Generous hospital cover upto 7 lakhs.

2. Cashless Treatment available across over 2000 leading
hospitals in over 200 towns across India.
3. Specific day care treatments requiring less than 24 hrs.
Multiple Delivery Channels
Automatic Teller Machine (ATM) :
An ATM is generally a machine that can deliver cash to the

customers to the demand after authentication. However, nowadays we
have ATMs that are used to vend different FMCG products also. An
ATM does the basic function of a bank’s branch , i.e. , delivering
money on demand. Hence setting of newer branches is not required
thereby significantly lowering infrastructure costs. These keys also
hold the keys to future operational efficiency.
Net Banking :
Net banking means carrying out banking transactions via the

internet. Thus the need for a branch is completely eliminated by the
technology. Also this helps in serving the customer better and
tailoring products better suited for the customer.
A customer can view his accounting details, transaction history,
order drafts, electronically make payments, transfer funds and
electronically communicate with the bank through the Internet for
which he may have wanted to visit the bank branch. Net banking
helps a bank spread its reach to the entire world at afraction of the
cost.
Phone Banking :
This means carrying out of the banking transactions through

telephone. A customer can call up the bank’s helpline or phone
banking number to conduct transactions like transfer of funds, making
payments, checking of account balance, ordering cheques, etc. This
also eliminates customer of the need to visit the bank branch.
Mobile Banking :
Banks can now help a customer conduct certain transactions

through the mobile phones with the help of technologies like WAP,
SMS, etc. This helps the banks to combine the Internet and the
telephone and leverage it to cut costs and at the same time provide its
customer the convenience.
The Importance of Choosing a Correct Distribution Channel
The promise of lower transaction costs, increased sales

productivity, and more convenient service has lured banks into setting
up new delivery channels. Earlier, vast brick and mortar branch
network has been considered as an inherent advantage of established
banks and new entrants were at huge disadvantage vis-à-vis the
established players in terms of customer reach.
The foundation for creating such delivery channels is superior
insights into customer behavior. These can come in many forms, but
at their most basic they entail understanding customer needs for the
delivery of different products, how these needs vary by customer
types ( including small businesses), current customer behaviour, and
customer profitability.
The steps to be followed in making a new distribution channel

successful :
•Understand customers’ current channel/transaction behaviour.
•Use sophisticated experimental customer research to assess the
economic impact of tactics designed to change that behavior.
•Design non-branch channels to emphasize personalized
interaction to counteract decreased loyalty due to using artificial
intelligence.
Strategic Alliances entered by Standard Charted

Bank:
National ATM Alliance
The Institute for Development and Research in Banking

Technology (IDRBT), a group established by the RBI in 1996 has
planned to set up a national switch to hook up all of the country’s
10000 odd ATMs.
The idea of established ATM interconnectivity through a national
switch has been approved by the information chiefs of various banks.
Cashnet
Its an alliance between Citibank, IDBI, SCB and UTI bank. This is
the country’s first independent shared ATM network.
Cashnet will give access to more than 1300 ATMs for more than 6
million debit and credit cardholders of the member banks.
Standard Charted Bank and Bharat Petroleum Corporation of
India
They have entered into an alliance to launch a globally valid co-

branded debit card, smart fill in association with Visa international.
Smartfills functions as a debit -cum- ATM card, providing
customers online access to their accounts while they shop or withdraw
cash.
Standard Charted Bank and Allianz Bajaj Life Insurance

Company
The Standard Charted Group has entered into an alliance with

Allianz Bajaj Life Insurance Company to market and distribute the
latter’s insurance products.
Standard Charted Bank and REDIFF.com
They have entered into an alliance to provide online and offline

banking and related services to the Indian customer.
The alliance will enable information on the entire range of the
banks customer banking products to be made available to the 6.4
million online customers of Rediff.com
Standard Charted and Department of Post
Under the alliance, India post will market credit cards and other consumer
banking products of Standard Chartered Bank through Data Post. While the
partnership will enable Standard Chartered to leverage the extensive national
network of post offices to distribute and market its products, the post offices
will also be the payment collection points for the bank's credit card
customers. The bank will also utilise Speed Post extensively to send its
credit cards to customers.
THE RESULTS OF A SURVEY WHICH WAS CONDUCTED ON 50

RESPONDENTS HAVING SAVING ACCOUNTS IN STANDARD
CHARTERED BANK IS AS FOLLOWED
DURATION WITH BANK
The study of 50 Standard Chartered Bank respondents consisted of a

majority of customers who had been with the Bank for a reasonable amount
of time. This is good as these customers have had the opportunity to
properly access the service level of the Bank, and can compare their
experiences of Standard Chartered Bank with banks they have previously
and are currently dealing with.
Out of the total respondents only 3% have been with the Bank for less than 6
months, the rest 97% have had the opportunity to know about the strengths
and weaknesses of the Bank.
Another inference that we can draw from this study is that couple of years
the Bank has been actively acquiring new customers as from the survey we
can see that about 80% of the customers have opened their accounts during
the past two years. The reason for this could be that during the past two
years the Bank has been able to convince many prospective customers about
the superior service it is able to offer in comparison to competing Banks.
Another reason could be that the customer base of the Bank has increased
due to sheer word of mouth of the Banks millions of satisfied customers.
REASON FOR CHOOSING BANK
The Bank is always interested to know what was that one reason that
prompted the customer to open an account with the Bank even though he is
flooded with very attractive options from the competing Banks.
If the Bank could get to know of that very compelling factor that convinced
the customer to open the account then the Bank could use this in it’s favor to
attract more customers.
From the study conducted the factor which has come out strongest in this
regards is the “Other Reasons” getting 44% of the responses , going deeper
into this response by asking the respondent what is the factor they include in
this Other Reasons is that most people are not the deciding factor when they
open a saving account, this is done so by their employers. The customer’s
salary accounts are created by the companies in which they work.
A very important inference that can be drawn from this is that Standard
Chartered Bank should be active in maintaining close links with the
corporate sector, this would help the Bank get very profitable Corporate
Accounts in addition to the Saving Accounts..
Closely following the “Other Reasons” option was that 34% of the
respondents opened their account with the Bank because Standard Chartered
Bank was Recommend by Family/Friends. This is a very important finding
as the existing customers of the Bank have been recommending the Bank to
their acquaintances after their good experiences with the Bank.
But this could also turn as an disadvantage to the Bank as if there are some
dissatisfied customer he might dissuade a prospective account holder, to
deal with this problem the bank should keep up with it’s good service and
continue to make it’s Account holders satisfied with it’s consistently good
services and products it offers.
The next important factor while choosing a Bank is the Distance the Bank
is located from the Office/Residence of the Customer, 16% of the
respondents felt this was the most important factor.
This is an area of concern for the Bank as Standard Chartered Bank has only
13 Branches which are located in Delhi apart from this the All India figure
for number of Branches of Standard Chartered Bank is 57. This figure is not
very impressive when compared to Standard Chartered Banks rivals ICICI
Bank and HDFC Bank which have a massive Delhi and All India branch
presence.
The Bank must increase their Branch Presence in Especially the Metro cities
which the Bank is targeting. Apart from this an effort should be made to
increase Branch presence in the potential profitable parts of the country.
The forth most important factor which influences the customer to open an
Account is the Reputation/Brand Name of Standard Chartered Bank., 6%
of the respondents choose this option. Standard Chartered Bank is an
Internationally Recognized Name when it comes to Banking, it has a very
strong Reputation and has tremendous Goodwill in all sections of the
society.
The Bank should be careful that their Goodwill is maintained for the years to
come, this would bring in much more business for the Bank..
The fifth factor which did not receive any responses was “Advertisement”
The respondents did not feel that Advertisements prompted them to open
accounts with the Bank. This does not undermine the importance of
Advertisements when it comes to informing the customers of the new
products and offerings the Bank is providing.
OTHER ACCOUNTS HELD

Holding Multiple Saving Accounts is a very common practice today, it
would be highly rare to find a person who holds only a single Account with
a particular Bank. It is common for people to hold two or three accounts in
their name. Multiple Accounts held by customers give them the opportunity
to compare the services offered by different Banks.
In our study we found the Bank whose Account was held by most number of
customers in addition to Standard Chartered Bank was ICICI Bank with 12
respondents this was followed by HDFC Bank.
Banks like ICICI Bank and HDFC Bank pose a serious threat to Standard
Chartered Bank when it comes to Saving Accounts simply for the reason
that these Banks have been successful in creating a vast network of Branches
and ATM all over the country.
In the Other Banks category it included Government and Private/Foreign

Banks. In the Government Banks there were Bank of Baroda, Punjab
National Bank, Central Bank of India. The Banks in the private sector
included CITIBANK, ABN Amro,HSBC,etc.
The one Bank in the Government sector which got a reasonable number of
responses was State Bank of India (SBI), SBI is the largest commercial
Bank in India, it has the largest branch network amongst all Banks be it in
the Public or Private sector. But due to little attention given on customer
service as is the case with most public sector undertakings, it’s customers
are shifting to Banks in Private Sector like Standard Chartered Bank.
MOST FREQUENT POINT OF INTERACTION WITH THE BANK
The answer to the Question that what would be the point of interaction with
a Bank would have a few years ago have been the Branch. But today this is
not the obvious answer. The Account holders have the option to use the
ATM machines to withdraw or deposit money, or do various other
transactions, he could also use the facility of Phone Banking or Internet
Banking from the comfort of his home or office. Apart from this some
Banks Including Standard Chartered Bank are provided with facility of Door
Step Banking where the customer can even deposit or withdraw cash without
ever having to leave his home.
The Banks are very interested to know the most popular Point of
Interaction with the Bank as if the Bank is lacking in one of these steps can
be taken to make the situation better.
From the study we can see more than half (more than 50%) of the total
respondents feel that they interact most with the Bank with the help of
ATM. Banks prefer if it’s Account holders use the ATM machines to do
transaction rather than coming to the Branch as the cost per transaction is
lower when using the ATM machine than using the branch.
Hence the importance of ATM cannot be overstated.
Account holders of Standard Chartered Bank Saving Account having Visa

Electron Debit Card can access other Banks ATM machines four times per
month for free, after that the Account holder has to pay Rs. 50 per
transaction. But holders of ATM cards cannot access machines belonging to
other Banks.
The number of ATM machines installed by Standard Chartered Bank is 35

in Delhi and the All India tally is 246 machines. When this figure is
compared to ICICI Bank which has thrice the number of machines in Delhi
or HDFC Bank which has nearly twice the number of machines in Delhi,
this is worrying for Standard Chartered Bank.
Apart from the above two Banks State Bank of India, UTI Bank have a very
intensive network of ATM machines all over the country.
The Second most popular point of interaction that arises from the study is
the Branch with 32% of the respondents favoring this option. Standard
Chartered Bank is unique in an aspect that it follows the “Any Branch
Banking” wherein the Account holder can use any of the Banks 246
Branches all over the country.
An aspect that customers really appreciate is the 24 hour Branches and the
365 Days Branches of Standard Chartered Bank. The 24 Hour Branch of
Standard Chartered Bank is located at Inner Circle Connaught Place New
Delhi apart from these Branches in Mumbai and other cities in India.
Standard Chartered Bank is the only Bank which has the facility of a 24
Hour Branch. As for a 365 Day Branch the only Bank having this facility
apart from Standard Chartered Bank is ABN Amro Bank.
Standard Chartered Bank customers have the advantage of being able to do
Cash Transactions from Non-Branch, this facility is provided by a select
few Banks and popular Banks like ICICI Bank and HDFC Bank do not
provide this service.
Standard Chartered Bank should open more Branches in Delhi as Branch
Banking is the second most Frequent Point of Interaction. There is a need to
increase it’s Branch presence in other Cities around India if Standard
Chartered Bank wants to be known as a household name in the country.
The third most Frequent Point of Interaction is Phone Banking with 11.5%
of the respondents favoring this medium. Phone Banking is one of the new
age Banking techniques. It is in it’s infancy in India and people have not
taken to it as is the case in other Developed Countries in the World.
In the study it was seen that customers have mixed feeling when it comes to
Phone Banking as sometimes they do not find it as an effective alternate to
traditional forms of Banking.
The forth most Frequent Point of Interaction with the Bank is Internet
Banking with 4% of the respondents favoring this medium. Internet
Banking is the most modern means of Banking available to the customers
but due to the general perception that this medium is not safe it is not used
by many people.
In our study only 60% of the total respondents have atleast once used
Internet Banking.
The two option which were not favored by any respondents as the most
Frequent Point of Interaction are Drop Box Facility and Door Step
Banking.
Accounts holders admit having used the Drop Box facility and find it quite a
convenience but do not consider it as the most frequent point of interaction.
When it comes to Door Step Banking very few Account Holders admit
having used the service. This is due to two reasons ,first, people don’t
consider it as the most safe means of Banking and second, transactions done
through this medium cost the customers.
TIMES ATM USED PER WEEK
The study has confirmed the fact that ATM is a very popular means of
Banking today , in fact it is the Most Frequent Point of Interaction with the
Bank. Banks prefer the use of ATM as the cost per transaction is quite low
as compared to Branch Banking.
Banks are always interested to know the frequency with which the ATM
machines are used per month. From our study we infer that most Account
holders (50% of the respondents) use the ATM Less than 2 times per week,
this is followed by 40% of the respondents who use the facility between 2 to
4 times per week. Only 10% of the total respondents use the ATM facility
and more than 4 times per week.
This finding has an important implication, even though Standard Chartered
Bank does not have a very large network of ATM machines and Account
holders can access ATM machines of other Banks (4 free transactions
only).Most Account holders would not face much problem as even if they
are not able to find a Standard Chartered Bank ATM machine they can use
other Bank ATM without fearing that they would have to pay Rs. 50 per
transaction fee.
OVERALL SATISFACTION LEVEL
Overall Satisfaction level of the customer is a very important parameter

which is valued by all especially service providers like Banks. It includes
everything and encompasses total experience of the Account holder with the
Bank. It shows the general perception of the account holder. If people who
have had experience in dealing with the Bank have a high Overall
Satisfaction Level they would definitely Recommend the Bank to their
Acquaintances.
Any service provider would want their customers to have a high Overall
Satisfaction level. Standard Chartered Bank has scored very well in this
regard.
The most important thing is that no respondent has complained that they
are overall dissatisfied with the bank. This is a very important finding
because this shows the effort Standard Chartered Bank puts in providing
their customers a superior service has not gone waste.
More than half of the total respondents (52%) say that they are somewhat
satisfied with the overall service of the Bank. About 30% of the total
respondents say that they are Very Satisfied with their Overall Experience
with the Bank.
Hence about 82% of the Respondents are Satisfied with their Overall
Experience with the Bank.
There is another category of Respondents (20% of total) who say that they
are neither satisfied nor dissatisfied with their Overall Experience with the
Bank. This is a worrying aspect and the Bank should pay more attention to
these segment of Account holders.
The study is showing a very good Overall Satisfaction Level by the

Account holders.
SATISFACTION LEVEL WITH NUMBER OF BRANCHES

Standard Chartered Bank has 57 Branches all over India, and in Delhi alone
it has 13 Branches.
From the study we can see that about 40% of the total respondent has said
that they are somewhat satisfied with the number of Branches of Standard
Chartered Bank, and only 8% of the total respondents have said they are
very satisfied with number of Branches.
There is a large portion of respondent (32%) who are neither satisfied nor
dissatisfied with number of Standard Chartered Bank Branches whereas 10%
of the respondents are somewhat dissatisfied.
A comparison of the different Banks with number of Branches each has
is given below-
BANK NO. OF BRANCHES NO. OF BRANCHES

(INDIA) (DELHI)
Standard Chartered 83 13
Bank
ICICI Bank 450 33
HDFC Bank 201 19
IDBI 65 9
CITIBANK 126 9
HSBC 28 3
AMN Amro 9 3
UTI 70 -
GTB 91 5
From the above table we can see that ICICI Bank is the clear winner when it
comes to number of Branches in Delhi and on an All India basis, following
it is HDFC Bank. CITIBANK is next when it comes to All India figure but it
does not have many Branches in Delhi.
If we look at the figures from strictly Delhi point of view then we can infer
Standard Chartered Bank has put in a lot of effort on Delhi when number of
Branches is concerned.. Nearly 23% of the total Branches of Standard
Chartered Bank are located in Delhi.
The corresponding figure for ICICI Bank is 8.25% , for HDFC Bank is
9.45% , CITIBANK is 7.14%.
The reason for this may be the fact that Standard Chartered Bank is a Bank
which wants to cater to niche customers who are willing to maintain a
comparatively higher balance in their accounts as compared to account
holders of other banks. Therefore Standard Chartered Bank is concentrating
on Metro cities like Delhi.
SATISFACTION LEVEL WITH BANKING HOURS (10 am to 7 pm)

From the study of Standard Chartered Bank Account holders we have been
able to infer that Branch Banking is the second most Frequent Point of
Interaction with the Bank. The Average Banking Hours is a very important
aspect associated with any Bank. In todays fast paced life where people who
hold Accounts with the Bank are busy working it is important that they can
find a way to visit the Bank without having to miss out on work.
The Average Banking Hours of Standard Chartered Bank is from 10am to

7pm , the Bank is open to the public for nine hours. These timings are
convenient for Especially those Account holders who are working, these
people can visit the Bank after their Office finishes.
Apart from the Average Banking Hours Standard Chartered Bank offers to
it’s Account holders 24 Hour Branch , 365 Days Branch and the facility of
Sunday Banking.
Standard Chartered Bank is the only Bank which offers a 24 Hour Branch in
India, this is a big boon for people who cannot take the time out to visit the
Bank during the normal working hours and is also very handy during
emergencies.
The 365 Day Branch of Standard Chartered Bank is also unique and the only
other Bank offering this service is ABN Amro , this Branch is open
regardless of the fact that it is a Sunday or a public holiday.
Sunday Banking is very useful for people who are busy throughout the week
and the only day when they find the time is Sunday. Other Banks offering
this service apart from Standard Chartered Bank are ABN Amro and
CITIBANK.
From the analysis of the data that has been collected from Standard
Chartered Bank Account holders we can see that majority of the respondents
are satisfied with the Average Banking Hours.
The respondents who are Somewhat Satisfied with the Banking Hours
consists of 44% of the total , while 28% of the total respondents studied say
that they are Very Satisfied. In all 72% of the total respondents are Satisfied
with the Banking Hours of Standard Chartered Bank.
The respondents who are Neither Satisfied nor Dissatisfied consist of 20% of
total number studied , while 8% of the respondents are Somewhat
Dissatisfied.
SATISFACTION LEVEL WITH PHONE BANKING
The concept of Banking by Phone is Quite new in India , but to it’s credit it
has become Quite popular in a short span of time. This service is available to
customers of all Private/Foreign Banks and some Indian Government Banks
also provide their Account holder’s with this service.
With the help of phone Banking Account holders are able to do a number of
transactions without having to leave one’s home.
But despite these benefits that accrue from Phone Banking there is the aspect
of impersonality that is associated with this medium. During the study we
have seen that Account holders often complain that the Phone Banking
Executives are not able to solve their problems effectively. There have been
instances when Phone Banking Executives have behaved rudely with the
Account holders.
The Account holders feel that even though Phone Banking is useful in
certain situations but is not a very effective way to do Banking as there is no
face to face interaction.
More than half of the respondents (52% of the total respondents)
interviewed felt that they were Satisfied with the Phone Banking service
offered by Standard Chartered Bank , while 28% of the total respondents felt
that they were Neither Satisfied nor Dissatisfied with Phone Banking.
Out of the Account holders Satisfied with Phone Banking 40% were
somewhat satisfied and 12% were Very Satisfied.
SATISFACTION LEVEL WITH CORRESPONDENCE FROM BANK

REACHING IN TIME
The Bank has to often communicate with the Account holders regarding
many aspects like informing them of the balance in accounts, informing
about new offers and products, delivering important passwords and personal
identification numbers, etc.
The information that is sent to the Account holders through this medium is
very important and if the Bank is not able to maintain a satisfactorily
standard, it would adversely affect the image of the Bank in the minds of the
customers.
The results from the study shows a worrying aspects , More than two-third
of the total respondents (78%) were in someway or the other Dissatisfied
with the Bank in regards to correspondence from Bank reaching in time. The
percentage of respondents who were Very Dissatisfied were 34% of the
total, and 44% of the respondents were Somewhat Dissatisfied.
The respondents who were Somewhat Satisfied were 22% of the total
number of respondents.
No one was Very Satisfied with this service.
WOULD CUSTOMER RECOMMEND THE BANK TO

ACQUAINTANCES ?
Standard Chartered Bank like any other Bank is always on the lookout for
people to open Accounts with the Bank , this would increase the deposit
base of the Bank. The existing Account holders of the Bank can convince a
lot of people they know to open Accounts with the Bank.
Account holders of the Bank can by their Word of Mouth publicity convince
a lot of people to open Accounts with the Bank. In the earlier part of the
study when the Reason for Opening A Saving Account with Standard
Chartered Bank was studied “Recommended by Family/Friends” came out
to be the second strongest reason. Hence now it is imperative to find out
whether the Existing account holders of the Bank would recommend the
Bank to their Acquaintances.
The results are Quite encouraging for Standard Chartered Bank , About
three- forth of the total respondents (74%) said they would Recommend
the Bank to people they know , while 26% felt they would not
recommend the Bank as they were not satisfied with the services offered
by Standard Chartered Bank.
The above finding shows that most of the respondents are satisfied by the
services offered by the Bank , but the Bank should improve their services
especially for the segment representing one-third of the respondents so that
they can also change their view regarding this subject.
Having dissatisfied customers is very dangerous as there is always a Risk
that these customers might shift to one of Standard Chartered Bank’s
competitors , or they might discourage one of the prospective customer from
opening an Account with the Bank.
THE RESULTS OF A GENERAL SURVEY WHICH WAS

CONDUCTED ON 105 RESPONDENTS BELONGING TO 10
DIFFERENT BANKS IS AS FOLLOWS
BANKS STUDIED
BANKS STUDIED
25
20 20
20
15
10 10 10 10 10
10
5 5 5
5
0
k
nk
nk
BI
ro
B
C
B
SB
an
AN
BO
SB
PN
ID
Ba
Am
Ba
IB
IB
H
FC
a
IC
N
IT
hr
AB
IC
C
D
d
H
An
This study involved mainly Banks operating in the Private Sector, there are
some Banks from the Public Sector but these are at a relatively lower
proportion.
The Private Bank include both Indian and Foreign Banks , the Indian Banks
included ICICI Bank , HDFC Bank While the Foreign Banks apart from
Standard Chartered Bank studied included CITIBANK , HSBC , ABN
Amro.
The Government Banks included most noticeably State Bank of India
(India’s Oldest and largest commercial Bank) , Bank of Baroda , apart from
other Banks.
ATM FACILITY PROVIDED BY BANK ?
ATM Banking has today totally Revolutionized Banking in India, it has

completely changed the image one used to associate with Banking at one
time . The Account holders no longer have to wait in queues so that can
Withdraw/Deposit their own money , today simply by inserting the Card in
the machine the Account holder can do a variety of transactions any time ,
any place.
The respondents in the study included Account holders from both the Private
and Government Banks , as far as the Private Banks are concerned 100% of
the respondents were using the ATM facility provided by the Bank using
either the ATM card or Debit Card.
But from the respondents in the Government sector Banks not all the
Account holders were using the ATM facility. In some cases the respondents
interested in the ATM facility but could not avail the service because the
Government Banks had delayed the delivery of cards even after the Account
holder had applied for the same. Other Account holders preferred the
traditional method of Banking rather than this new medium.
Overall 86% of the total respondents studied use the ATM facility
provided by the Bank, while 14% of the respondents did not use ATM
facility. This entire 14% segment represented account holders from the
Government Sector Banks.
IS MONEY MORE SAFE IN A NATIONALIZED BANK RATHER

THAN A PRIVATE BANK ?
The safety of Funds that are invested in a Bank is of primarily importance in
every depositors mind. Ever since Private and Foreign Banks came on in the
Indian scene there has lingered in the minds of potential depositors whether
the money they invest in these Banks would be returned to them . This could
have been the reason that even after providing much superior service as
compared to Government Banks the deposit base of these banks have not
reached their potential.
Hence to judge the Market Potential of Saving Accounts it was very
important to access whether potential and current clients have the feeling
that Private sector Banks are not as safe as their Government counterparts.
The results from the respondents Questioned is extremely promising as out
of the total sample size only 7% felt that private Banks were not as safe
as their Government counterparts.
The largest chunk of respondents were who said they Disagreed to the
statement that Private Banks were not as safe as the Government Banks
representing 46% of the respondents. Another 33% of the respondents felt
that they Strongly Disagreed to the above and 20% of the respondents
Neither Agreed nor Disagreed to the above statement.
From the above implication it is very clear that today the public has come to
trust the Private sector Banks , this can also be seen from the fact that the
deposit base of Private Banks is increasing at a higher pace than that of
government Banks are rising.
DOES ADVERTISEMENTS HAVE BEARING ON CHOICE OF

BANK ?
Advertisement has become an important means used to popularize the goods

and services produced by different organizations. Banks are no exception to
this , Banks often advertise in Newpapers , magazines , television , etc
informing people regarding new products being introduced by them.
With the emergence of Private and Foreign Banks who aim to provide the
customers with a differentiated product , advertisement plays an important
role in creating a image in the minds of the people of a highly differentiated
product.
These Banks keep aside a huge advertisement budget , And it is not
uncommon for Celebrities from movies and sports industry to endorse the
products being offered by the Banks.
It is important to know whether people feel that they get influenced by
Advertisements , and if the answer is yes then it would be worthwhile for the
Banks to invest more on advertisements.
The results from the study shows that according to people advertisement
does have a bearing on choice of Bank , More than 69% of the respondents
felt Advertisement is important while the balance 31% felt the opposite.
DO FREEBIES OFFERED BY THE BANK HAVE A BEARING ON
THE CHOICE OF BANK ?
Apart from advertisements Banks often offer prospective customers offers

and incentives to lure them to open accounts with the Bank. This freebies
include free debit card , free insurance or some other of the Banks products.
It is seen these incentives have some effect on convincing the customer to
open an account with the Bank.
These offers and incentives help the Bank in offering a Differentiated

product in a highly competitive market.
It is necessary to know whether these free incentives offered have a bearing

on the choice of Bank. Out of the respondents questioned 59% of the
respondents felt that these freebies does help them make up their mind
regarding a certain Bank , while 41% of the respondents felt that these were
not important.
MOST FREQUENT POINT OF INTERACTION WITH BANK
Banks in the Private and Government sector provide to their customers with
different types of medium through which they can interact with the Bank.
Private Sector Banks have been in the forefront of providing their customers
with technologically advanced mediums like Internet Banking , Mobile
Banking , ATM Facility , Phone Banking ,etc.
Government Banks have rather late realized that if they do not invest in
these modern medium of Banking their deposit base would shrink. Now
these Banks are investing heavily in installing ATM machines , they have set
up call centers for Phone Banking, etc.
State Bank of India is one such Bank which has one of the largest network of
ATM machines all over the country.
Generally the study has concluded that for Private Sector Banks ATM has
come out as the most frequent point of interaction with the Bank , But
Branch Banking is more popular when Government Banks are concerned.
Phone Banking and Internet Banking are western concepts of Banking which
have been popularized by Private Banks operating in India. The usage of
these mediums are restricted to Private Banks. Government Banks are
currently putting these mediums in place for it’s customers but it will be
some time before Internet and Phone Banking will become popular for
Government Bank Account holders.
Overall the medium which has come out as the most popular point of
interaction with Banks is the ATM Facility with 42.85% of the respondents
choosing this option.
Next most popular Point of Interaction with the Banks is Branch Banking
with 30.47% of the respondents choosing this option. Phone Banking
comes next with 19.05% of the respondents choosing this as the most
frequent point of interaction.
Internet Banking is favored by 7.6% of the respondents as their favorite
medium and Drop Box Facility is not considered by anyone as their most
frequent point of interaction.
Standard Chartered Bank
POSITIVE ASPECTS
1. Debit card holders of Standard Chartered Bank Access Plus Saving

Account can use their card to transact from other Visa Electron machines
four times free per month. This is a unique benefit which is available to
Standard Chartered Bank customers. After the free transactions every
time other machines are used RS. 50 is charged per transaction.
This is over and above the Unlimited free use of Standard Chartered
Bank machines the customer is entitled.
One more Bank which allows it’s customers two free use of other Bank
machine is ABN Amro Bank. All other Banks charge their customers if
they use other Bank machines.
Standard Chartered Bank has a network of 246 machines All over India
and 35 in the Delhi Region alone. The corresponding figure for ABN
Amro is 40 and 13 respectively.
In the study an attempt was made to find out how many times the ATM
Facility was used by Account holders per week , the results showed that
50% of the respondents used the machine Less than two times per week
and 40% used the Facility between two and four times per week.
From the above we can infer that on the basis of ATM usage rate
Standard Chartered Bank Account holders would not get in a position
that they might have to pay the transactional fee of using other Bank
machines.
2. Average Banking hours (10am to 7pm) of Standard Chartered Bank is

nine hours per day. This is very good when compared to other Banks.
Only ICICI Bank has better working hours (8am to 8pm) , But it does not
offer it’s customers 24 Hour Branch and 365 Day Branch as is the case
with Standard Chartered Bank.
Standard Chartered Bank is the only Bank in the country offering a 24
Hour Branch. At this Branch account holders can do their Banking
transactions at any time. This is one of the many firsts which Standard
Chartered Bank is associated.
Apart from Standard Chartered Bank , ABN Amro Bank is the only Bank
which offers a 365 Day Branch.
Sunday Banking is allowed at Standard Chartered Bank , this is a unique
feature as established Banks like ICICI Bank and HDFC Banks do not
provide these services.
The Account holders are very satisfied with these facilities offered by
Standard Chartered Bank.
3. The Maximum Withdrawal Limit from a Standard Chartered Bank ATM

machine per day is RS. 25000. By allowing it’s customers access to this
amount of their cash Standard Chartered Bank is allowing lot of
Convenience to it’s customers. It frees the customers of the worry that if
there is an emergency , he will not fall short of cash.
The ATM facility users at the Bank are very satisfied by this service.
The above limit for ICICI Bank and HDFC Bank is RS.15000 , which is
far less than Standard Chartered Bank’s limit.
4. Standard Chartered Bank offers it’s customers the facility of cash

transaction from non-branch , this is also one of the unique facilities
offered by the Bank. Established players like ICICI Bank and HDFC
Bank does not provide this service.
The Account holders of the Bank find the above extremely useful.
5. Standard Chartered Bank offers to it’s Account holders to Link Their

saving account with other Standard Chartered Bank products like credit
cards, etc. The customers of the Bank find this facility very useful as it
frees them of the worry of having to make individual payments , and
having to remember due dates.
Another very useful service offered to the Account holders is the
automatic payment of Utility Bills(electricity, water, phones payments).
Crosstabs
Null Hypothesis: There is no association between age and banking

preference of Standard Chartered Bank
Alternative Hypothesis: There is association between age and banking

Case Processing Summary
Cases
Valid Missing Total
N Percent N Percent N Percent
Age *
19 19% 81% 81% 100 100.0%
StanC
CONCLUSION
1. Standard Chartered Bank is a Leading Bank in the country , it provides a

variety of products and services to different segments of customers.
2. The Bank aims to serve customers from teenagers to senior citizens ,
hence different products designed to suit specific requirements of the
above.
3. Aims to serve all classes of the society from the salaried middle class to
the high income business class.
Customers are categorized and segmented according to their
requirements and needs.
For Example , the Axcess Plus Saving Account aims to serve middle
class customers so minimum balance required to be maintained is RS.
10000. While the Super Value Saving Account is targeted at high income
customers, the minimum balance requirement is RS. 50000.
4. Customers who are more profitable to the Bank (High Value Customers)
are provided special facilities. Priority Banking is meant to serve these
high value customers.
5. The Bank prides itself with the ability to provide differentative products
in the crowed market of saving accounts. Bank offers free insurance ,
special co-branded debit cards (Smartfill Debit Card) which makes it’s
product unique.
6. The Bank is also involved in marketing activities which serves as a
medium of advertisement for the Bank. These are as follows:
• Extended happy hours at certain pubs in Delhi for the Bank’s account
holders.
• Gift Vouchers on making utility payments , such as cell phones ,
electricity and MTNL bills.
• Free Gifts like T-shirts/watches to it’s customers.
• Free add-on cards for relatives.
7. The Bank wants it’s customers to transact more through Internet Banking
and ATM , Rather than the customers using the branch.
8. The Credit/Debit Cards provided by the Bank are Internationally
Accepted around the world , Hence giving the customers the convenience
to transact anytime , anywhere.
9. The Bank has tied up with other Banks so that it’s customers can use
other Bank’s ATM facility for free (four free transactions)
10. The Bank also provides DEMAT account and also sells Mutual Funds ,
this provides the Bank and Government additional revenue.
11. The Bank has been very successful in enlarging it’s customer base during
the last couple of years.
12. The Number One Reason of people choosing Standard Chartered Bank is
the Brand Name/Reputation of the Bank.
Hence it should be careful that the Brand name and Goodwill the Bank
has earned is not diluted.
13. The Biggest competitors of the Bank are ICICI Bank and HDFC Bank.
14. ATM Facility is most popular way to transact with the Bank.
15. Overall the customers appreciate the service and products offered by the
Bank and are willing to recommend the Bank to their acquaintances , But
more attention has to paid towards:
• Increasing the number of ATM machines.
• Improving Internet Banking Facility.
• Correspondence from Bank reaching in time.
• Employee Courtesy.
16.Advertisements do play a role in attracting prospective customers to the
Bank.
Age * Standard Chartered Cross tabulation
StanC Total
0 1 2 3 4 5
Age 1 Count 2 1 1 1 0 0 5
Expected Count 0. 1. 0. 1. 1. 0.
5
1 3 6 0 1 9
2 Count 1 0 2 0 2 1 6
6
3 6 1 9 1 1
3 Count 0. 0. 0. 0. 0. 0.
2
2 8 1 4 2 3
2
1 9 2 3 1 4
4 Count 1 1 2 0 2 0 6
6
9 0 5 4 2 8
Total Count 2. 5. 1. 4. 1.
4 19
8 1 4 2 5
19
0 8 1 4 2 5
Age group 1 represents people between age 18-25 years.

Age group 1 represents people above 45 years.
GENERAL FINDINGS
1. ATM Facility is more widely used by customers belonging to

Private/Foreign Banks as compared to Government Banks.
2. Customers value Efficient Service over every other aspect , this is far
more important than the number of ATM machines , Staff , Décor of
Bank.
3. Reputation of Bank is most important when it comes to choosing
especially a Private Bank.
4. The general perception is that Private Banks provide better services as
compared to a Government Bank.
5. People realize that Private Banks are as safe as compared to Government
Banks.
6. Advertisements and Freebies can be used to attract more customers.
Dependence of Gender and Standard Chartered Banking preference:
If we try to find out that if there is any relation between sex and Banking
Preference, we find the tabulated data as follows:
Crosstabs
Null Hypothesis: There is no association between sex and banking
Alternative Hypothesis: There is association between sex and banking

Case Processing Summary
Cases
Valid Missing Total
N Percent N Percent N Percent
Gender *
19 19% 81 81% 100 100.0%
StanC
There are a total of 100 people who participated in my study, out of which
only 19 people bank with Standard Chartered bank and the rest with the
some other Bank.
SUGGESTIONS
The “SUVIDHA” Account that is offered by CITIBANK has become very
popular in Banglore , But the biggest competition to Standard Chartered
Bank especially in Delhi and Mumbai are ICICI Bank and HDFC Bank.
To gain a foothold in these lucrative markets Standard Chartered Bank
should:
1. The Number one complaint of Standard Chartered Bank customers is the

limited number of ATM machines (Delhi-35 All India-246) that the
Bank operates. Since ATM is the most popular point of interaction with
the Bank it is imperative that the Bank increases the number of ATM
machines.
Standard Chartered Bank must enter into alliances with other Banks , so
that it’s customers can use those Bank’s ATM facility free of any charge.
2. The Bank should upgrade the ATM machines with video conferencing
facility , this would help the Bank project the ATM machine as a mini-
branch.
3. The Bank should take advantage of it’s world wide network of ATM
machines , as more and more Indians are travelling abroad. The
advantages of being able to access one’s account anywhere in the world
must be highlighted.
4. The Bank should reduce the Transaction cost of Non-Standard Chartered

Bank ATM machines.
5. Account holders of Standard Chartered Bank often have experienced that

there is a delay on the part of the Bank to dispatch correspondence meant
for the Account holder.
More than four-fifth of the respondents were Dissatisfied to a certain
extent because of delay for important correspondence in reaching the
customer in time.
6. Account holders who have applied for Internet Banking complain that
there is a delay in the password reaching them , hence causing
inconvenience. Also there have been occasions when Debit Card has
reached but PIN which comes separately has not reached.
7. Apart from this account holders have been frustrated because of delay in
the Statement of Account reaching them.
8. Overall the Account holders who have availed the Phone Banking service
are quite satisfied with the service , they feel it is a useful and convenient
facility. But some respondents felt that it would be better if the Phone
Banking executives were more sensitive to the needs of the customers ,
and made effort that the problem is solved without the Account holder
requiring to call again.
9. Set up a dedicated call center for Debit card holders on the same lines of
the Global Consumer Bank Division for Credit Cards.
10.Account holders feel that it would be good if the Bank offered incentives,
freebies to it’s existing customers , this would keep the customers happy
and satisfied with the Bank.
Account holders feel that the Bank is quick to give offers to it’s
customers only when it feels that customer is going to stop doing
business with the Bank.
11.Another overwhelming Demand of the Account holders of the Bank is

that they should receiving free monthly statement of account from the
Bank instead of the current quarterly statement.
The account holders of ICICI Bank and HDFC Bank get Free monthly
statements and the customers feel that there is no reason why Standard
Chartered Bank should not provide them with the same.
12.Door Step Banking is a medium of Banking for the future, Standard

Chartered Bank is again been in the forefront of offering new and
innovative facilities to it’s customers.
Leading Banks such as ICICI and HDFC are yet to provide this service to
it’s customers.The Bank should put in extra effort to popularize this
service.
13. The Bank should launch schemes whereby people are encouraged to open
accounts for their children , also special incentives and offers should be
given for students to open accounts with the Bank.
This would help increase the deposit base of the bank.
14. Try to convince companies to open Corporate Accounts with the
Bank.
15. The Bank should extend the service of dropping important documents to
all it’s customers. This facility should not be restricted to the high value
customers.
16. It was observed that during the Branch visits there was insufficient or
waning management support , this aspect needs to be looked into.
BIBLOGRAPHY
There was immense need and flow of the information while conducting the
analysis as well as while writing the thesis report, which was gathered
through various sources mentioned below:
Internet
www. Standard Chartered Bank. com

www. Standard Chartered Bank.co.in
www. Standard Chartered Bank.com
www.indiainfoline.com
www.google.com
www.economictimes.com
Various Magazines and Newspapers such as
A&M
Outlook
Financial Times
The Economic Times
The Times of India
The Hindustan Times
Reference Books-
Marketing Management – Philip Kotler

Marketing Management- V S Ramaswamy & S Namakumary
Marketing Research- Harper W Boyd, Jr; Ralph Westfall; Stanley
F.Stasch
Journals, Broachers and various other documents gathered and

collected from bank and various other sources such as ATM centers and
associates.
APPENDEX
The Questionnaire used specifically for standard Chartered Bank Account

holders is below.
The responses of 50 Account holders were taken using this Questionnaire.
QUESTIONNAIRE
NAME
ADDRESS
AGE
Below 25 years 25 to 40 35 to 50 50 to 60 Above 60 years
OCCUPATION
Business Professional Service student Others
ANNUAL INCOME
Less than 1.5 lakhs 1.5 lakhs to 3 lakhs 3 lakhs to 5 lakhs Above 5
lakhs
1) For how long have you held a saving account with the bank?
Less than 6 months 6 months to 1 year
1 to 2 years Over 2 years
What made you choose Standard Chartered Bank?
Recommended by family/friends
Brand Name/Reputation of Bank

Advertisement
Branch near Residence/Office
Other Reason (please specify)
In addition to the above account do you hold a saving account in some other
bank? If yes please specify below.
What is your most frequent point of interaction with the bank?
Visit Branch
ATM
Phone Banking
Drop Box
Internet Banking
How many times a week do you use your ATM/Debit Card?
Less than 2 times a week

2 to 4 times a week
More than 4 times a week
Rate your Satisfaction level on the following specific parameters regarding

the services offered by Standard Chartered Bank.
Very Somewhat Neither Somewhat Very

Satisfied Satisfied Satisfied nor Dissatisfied Dissatisfied
Dissatisfied
Overall
Satisfaction
Level
Number of
Branches
Number of
ATM
Banking
Hours(Avg.
10am-7pm.)
Phone
Banking
Internet
Banking
Bank Staff
(courteous,
qualified)
Efficiency in
handling
daily
transaction
Statements
reach in time
In your opinion is the minimum balance(Rs. 10000) on the high side?
Yes No
Do you think the bank should communicate more by way of advertisements

to convey to the customers regarding new products?
Yes No
How many times a week do you use your ATM/Debit Card?
Less than 2 times a week

2 to 4 times a week
More than 4 times a week
Rate your Satisfaction level on the following specific parameters regarding

the services offered by Standard Chartered Bank.
Would you Recommend this bank to your acquaintances.
Yes No
Are there any suggestions which according to you will make the services of
the bank better? If yes please specify in the space below.

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MARKET EVALUATION OF FINANCIAL PRODUCTS OF

STANDARD CHARTERED BANK

Industry guide: Mr. Harish Dua.

Name : Swati Buttan

Delhi College of Advance Studies

I express my sincere thanks to the management of Standard Chartered Bank,

I express my gratitude to Mr. Harish Dua (Territory Manager-Wealth

Indian Banking Industry today is in the midst of an IT revolution.

Earlier profitability gained only secondary importance, since banks lived in

The Aim of Standard Chartered Bank is to increase its market share by

1) Objective of the project

Various Objectives for conducting the research and analysis

1) Initially raw data collection enables us to see the prevailing situation

Raw data Information

2) As per the requirements the questionnaire was prepared and a market

1. Gaining knowledge about the product:

Steps in the Development of the Survey Instruments

Research objectives are being transformed

The Appropriate data collection methods have

The information required by each objective is

Question/Scale Measurements is being

The number of information needed is being

The questionnaire and layout is being evaluated.

The Questionnaire format is being finalized.

3. Referred to brochures and websites of competitors:

Banking, transactions carried on by any individual or firm engaged in

The Chartered Bank

• Founded by James Wilson following the grant of a Royal Charter by

The Standard Bank

• Founded in the Cape Province of South Africa in 1862 by John

Business & Strategy

By combining our global capabilities with deep local knowledge, we

Headquartered in Singapore and London, with on-the-ground expertise that

Standard Chartered Saadiq's dedicated Islamic Banking team provides

Our Private Bank advisors and investment specialists provide customised

What we stand for

• The world's best international bank

• Leading by Example to be The Right Partner

Focusing on attractive, growing markets where we can leverage our

Combining global capability, deep local knowledge and creativity to

Continuously improving the way we work, balancing the pursuit of

Passionate about our customers' success, delighting them with the

Helping our people to grow, enabling individuals to make a difference

Trusted and caring, dedicated to making a difference

A distinctive investment delivering outstanding performance and

Exemplary governance and ethics wherever we are.

Standard Charted Bank – a Constitution of :

Financial Products offered by Standard Chartered

CURRENT ACCOUNTS : An account opened and operated primarily

Business Plus Current Account

• FREE National Electronic Funds Transfer

The Standard Chartered Bank’s Business Plus current account is a powerful

 FREE Demand Drafts on our branch locations: As a Business

You will need to maintain a minimum average quarterly balance of Rs.

Enhanced Business Plus Current Account (EBP 1000)

• FREE National Electronic Funds Transfer

You will need to maintain a minimum average quarterly balance of

The Standard Chartered Bank’s Enhanced Business Plus 1000 Current

 FREE Demand Drafts on our branch locations: As an Enhanced

An account primarily opened for & operated by individuals , wherein

Purpose and Description :

1. The savings accounts is a transaction account wherein a

• Interest on the is determined in accordance with directives of