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SUBMITTED IN PARTIAL FULFILLMENT OF REQUIREMENT FOR THE AWARD OF IN DIPLOMA IN BUSINESS MANAGEMENT TO RASHTRASANT TUKDOJI MAHARAJ NAGPUR UNIVERSITY, NAGPUR FOR THE ACADEMIC YEAR 2009-10
Bank of profile
Research Methodology
Bibliography
Questionnaire.
EXECUTIVE SUMMERY
Welfare means faring or doing well. It is a comprehensive term, and refers to the physical, mental, moral and emotional well-being of an individual. Further, the term welfare is a relative concept, relative in time and space. It therefore, varies from time to time, region to region and from country to country Bank of India is one of the premier banks in the country providing welfare facility in addition to a good salary. Bank is spending lot of money on the employee welfare. The expenses spent by the organization are less in return to the benefits which it receives from the employees hard work. Welfare facility provided by organization is unique for all the employees. The only difference is that the top level officers receive some additional facility along with routine one. With the help of the project on attempt is made to study the welfare measure provided to employees. What is the procedure, time required for sanctioning welfare facility and such other basis policies of the organization. The study is based on the information collected from respondent through questionnaire. The data analyzed is presented in the form of graphs and on the basis of that conclusion are made. In the last, the required suggestions are given. After analyzing the data it is found that the employees are satisfied with the welfare facilities provided to them by the bank.
CHAPTER 1: INTRODUCTION
Welfare is based concept employees welfare is a comprehensive term including various services, benefits and facilities offered by the employees thought such a generous fringe benefits the employers makes life worth living for employees the welfare amenities extend in addition to normal wages & other economic rewards available to employees as per the legal provision. The various welfare measures provided by the employees will have immediate impart on the health, physical & mental efficiency, alertness, moral & overall efficiency of the workers & there b contribution to the highest productivity. Welfare measures may also be provided by the government trade unions, and non-government agencies in addition to the employer. The basics purpose of welfare facility is to enrich the life of employees and keep them happy and contended. 1) SCOPE The labor investigation committee- anything done for intellectual physical, moral and economic betterment of the workers, weather, by employers or government or other agencies over and above what is normally expected on the part of the contracted benefits for which workers may have bargained. The committee on labour welfare- today, welfare is generally accepted by employers. The state steps into widen the area of the applicability only. Welfare is being looked at as social right of workers. The committee described it as a social security measures that contribute to improve the condition under which workers are employed in India. (1969 report) labour welfare includes both statutory as well as non statutory activities undertaken by the employers, trade union & both the central & state government for the physical & mental development of workers.
4) TYPES OF WELFARE FACILITY Welfare service may broadly be classified into two categories 1) Intramural activities which are provided within the establishment such as latrines & urinals, crches, rest centers, canteens, uniform, library, medical aid, subsidized food, shift allowance etc. 2) Extramural activities which are undertaken outside the establishment such as family planning, child welfare, co-operative stores, credit societies, vocational guidance, holiday hams, leaves travel facilities, transport to and from the place of work etc. INTRAMURAL & EXTRAMURAL WELFARE ACTIVITIES Intramural Drinking water Toilet Crches Washing & bathing facility Rest shelter Uniform & protective clothing Recreation facility Canteen Subsidies food Medical aid Extramural Housing Educational Facility Maternity benefit Transportation Sport facility Leave travel Vocational training Holiday homes Co-operative stores Fairprices shops Social insurance Labour welfare may also be divided into two categories 1) Statutory welfare work comprising the legal provision in various pieces of labour legislation 2) Voluntary welfare work includes those activities which are undertaken by employers for there worker voluntarily. Many employers, nowadays, after the following welfare amenities voluntarily 1) EDUCATION A scheme of workers education was envisaged on an all India basis by the government of India, way back in 1957. After assessing the scheme, the National Commission on labour, 1969 (NCL), felt that the scheme is not protect and requires improvement the committee on labour welfare (CLW), 1969,
4)RECREATION Through there is no statutory stipulation in this area progressive employers both in the public and private sector consciously offered facility for recreation sports and cultural activities for example- companies like NIIT and TISCO have appointed a chief fun officer to take care of parties and functions held on every Friday. In addition to holiday packages, dating allowances, anniversary, birthday gift, games and competition and weekend & eating session.
The Bank of India was founded in 7th sep 1969 now, Bank of India ,is a body corporate constituted under the banking companies act, 1970, which its head office at star house, plot no C-5,G block, Bandra-Kurla Complex, Bandra East. Mumbai -400051. The bank is doing the business of banking which means the accepting of deposits for the purpose of lending or investment, of deposit of money from the public, repayable on demand or otherwise, withdrawal by cheque, draft, order or otherwise in addition to the business of banking bank is also engaged in other forms of business as contemplated under sec 6(1) of the Banking Regulation Act, 1949. [The government of India come up with the Banking Companies Act,1949 which was later changed to Banking Regulation act 1949 as per amending Act of 1965 Reserve Bank of India was vested with extensive power for the supervision of banking in India as the central banking authority. ] The Bank of India has undergone various phases in its growth path over the last one hundred years the Growth of Bank of India was phenomenal, especially after nationalization in the year 1969 attaining the status of a national level player in term of geographical reach. Today, BOI occupies a premier position in the committee on Indian banks, emerging as the largest nationalization Bank of India in terms of aggregates business volume for 2008-09 with an unbroken record of profits since its inception, BOI continuous its winning performance in a year of Accolades & Awards. ACCOLADES & AWARDS NDTV profit business leadership awards 2008- Best PSU bank BT-KPMG best bank study- Indias best bank D & B-Rolta corporate Award 2008-Top Indian companies CIO green IT awards The Most Trusted Brands (MTB) 2009 as follows NDTV profit business leadership Awards -2009- best PSU bank
BANKING SCHEME 1) STAR DHANVANTARI SUVIDHA SCHEME Loan for the medical professional to set up now clinic, expansion of existing clinic, purchase of equipment, etc. up to Rs.50 lakhs, payable in EMIs within 7 years 2) PRIYADARSHANI YOJNA Scheme for all types of women entrepreneur engaged in economic activities such as micro and small entrepreneur, artisans, professional & self employed,
6) JANASHREE BIMA YOJANA Janashree Bima Yojana, a death-cum-disability insurance scheme for the member of self help women group credit linked to the bank is being implemented. It provides life insurance cover to the rural and urban poor person living below poverty line and marginally above poverty line. Additionally a scholarship allowance (Under Shiksha Sahyog Yogana) is also available to the children of the members of women SHG. The standard will get scholarship of Rs.600/- per half year per child for a maximum period of 4 years. The bank has signed move with LIC to implement the scheme through our brands upto
B) DEPOSITED SCHEME 1) STAR SURAKSHA SAVING BANKS DEPOSIT SCHEME:An unique account for individual (excluding NRI) with host of benefit including accidental death benefit and one DD free of cost every month which helps to remit money to our door once every month. The minimum balance is kept at Rs.500/2) STAR BENEFIT CURRENT DEPOSIT SCHEME A unique product for every one especially for trader & manufactures with 2 tree DDs in a month. This helps in purchasing goods/ row material and facility of depositing cheque at any branch of BOI having BOI Br. For its clearing at question through banks star speed cheque collection scheme free at cost which save time as well as cost. The minimum AQB is kept at Rs.5000/-
3) STAR SAVING PLUS: - (PRIVILEGE CUSTOMER) Convenience of saving account and return of fixed deposit star saving plus offer a host of benefit in a minimum balance of just Rs.25,000 in SB and Rs.5000 in TD 4) DEPOSIT SCHEME FOR GLOBAL INVESTOR/ NRI/ PIOS Yield enhancing scheme products for global Investor/ NRIs/PIOs available.
3) STAR PENSION LOAN For regular pensions or family pensions drawing regular monthly pension through bank.
D) OTHER SERVICES 1) STAR POWER SALARY ACCOUNTS SCHEME For the employees of institutions with 25 or more employees in the net salary brackets of Rs.10, 000 per month or more 2) INTERNATIONAL DEBIT CUM ATM CARD For the saving current and overdraft account holder who are authorized to operate open there account singly
BANKS SUBSIDIARIES/ ASSOCIATED REGIONAL RURAL BANKS (RRBS) Regional Rural Banks sponsored by our banks in 45 districts in the state of M.P., Orissa, Gharkahnd & Maharashtra BOI SHAREHOLDING LTD A joint venture with Bombay Stock Exchange to manage the BSE clearing house activity
SECURITY TRADING CORPORATION OF INDIA LTD Bank is the single largest stakeholder with 29.95% stake in its equity BANK OF INDIA (TANZANIA LTD) The wholly owned subsidiaries was incorporated on 16.07.07 first branch of the subsidiary was opened in Das-es-salaam on 22.04.08
1) CANTEEN A good and well maintained canteen facility is available at the bank premises, for employees. Also foodstuff are supplied at subsidized prise in canteen 2) HOUSING RENT ALLOWANCE BOI is provide cheap & recent house rent allowance facility to there employees and also bank average for housing loan to employees and encourage them to construct house. 3) HOLIDAY HOME BOI established holiday homes at a number of hill station, health resort & other countries with low charges of accommodation, so as to encourage employees to use this facility for rest in a salubrious environment.
5) GOOD WORKING CONDITION working condition in bank are excellent the environment is neat and clean everywhere & at, premises gardening is done so that greenery is there the pleasant environment of bank keeps employees fit & fine 6) REIMBURSEMENT OF EXPENSES TOWARDS MEDICAL CHECK-UP Employees above 40 year of age are covered under the scheme reimbursement is permissible toward medical check-up of spouse also. Reimbursement is permitted once doing the year. An employee claiming for
1) OFFICIATING ALLOWANCE 6% of BP pm. Provided the period of officiating is not less than 7 days in a calendar month or a continuous period of 7 days. This allowance will rank for PF only.
2) DEPUTATION ALLOWANCE if an officer is deputed to serve as a member of the facility in any teaching establishment of the bank he shall be eligible to a deputation allowance at 4% of his BP subject to a maximum of Rs.750/- pm. however, if deputed to
3) MEDICAL AID The reimbursement of bed charges, zonal manager has to authorized, for sanctioning charges for officers for treatment of self, up to Rs.1000/- for officer in scale IV & above and up to Rs.750/- for officer up to scale III and for charges incurred over the aforementioned amount zonal authority may recommended to H.O. for reimbursement 100% reimbursement for office who dies in harness. Bed charge on hospitalization involving admission in ICU/ICCU, scale IV and above Rs.2000/- per day and up to scale III Rs.1500/- Per day.
4) DEPUTATION TO TRAINING CENTER I) Load Trainees:- Rs.75/- per day for Mumbai & Delhi (Noida) Rs.60/- per day for the other centers
5) REIMBURSEMENT
OF
TRAVELING
EXPENSES
ON
MONTH
CONSOLIDATED BASIS. Eligible officer who own and use a vehicle for banks works have option to claim reimbursement of traveling expenses either or monetary basis or in term of consumption of petrol per month. Optioned can be exercised only once and will not be allowed to be change in type of vehicle and/ or place of posting. Promotee officers during the probationary period and DRUs during the first year of probation are not eligible. However, they may be reimbursed actual expenses incurred by them.
NEED OF RESEARCH METHODOLOGY HR research is the process of evaluating the effectiveness of human resources, policies and practices and developing more appropriate once. It include 1) Conducting morale, attitude, job satisfaction and behavior surveys
Visit hrmba.blogspot.com for more project reports, presentations, notes etc. 6) Developing more approximate policies, procedure, and programmer of
personal. OBJECTIVE OF THE STUDY Main objective The main objective of carrying out line topic is to study welfare facilities provided by Bank of India to the employee. OTHER OBJECTIVES
RESEARCH DESIGN A research design is the arrangement of condition for collection and analysis of data in a manner that aims to combine relevance to the research purpose with economy in procedure. Infact, the design of research study is descriptive as it is intended to describe to factor study is descriptive as it is intended to describe to factors that management is likely to be interested in such as employees feeling as opinion
DATA COLLECTION PRIMARY DATA Personal interview method is used for collected information from the employees through questionnaire SECONDARY DATA Secondary data is collected from referring books and websites of Bank of India THE SAMPLE
Technically speaking, processing implies, editing, coding, classification and tabulation of collected data so that they are amenable to analysis the term analysis refers to the computation of certain measure along with searching for pattern of relationship that exist among data group thus ,In the process of analysis, relationship or differences supporting or conflicting with original or new hypothesis should be subjected to statistical test of significance to determine with what validity data can be said to indicate any conclusion.
The concept of processing and analysis, can now proceed with the explanation of all the processing operations1) EDITINGEditing involves a careful scouting of the completed questionnaire add/ or schedules. Editing is done to assure that the data are accurate, consistent with other facts gathered, uniformally entered, as completed as possible and have been well arranged to facilitate coding & tabulation
2) CODING Coding is necessary for efficient analysis and through it the several replies may be reduced to a small number of classes which contain the critical information required for analysis. Coding decision should usually be taken at the designing stage of the questionnaire. 3) CLASSIFICATION The necessities classification of data which happen to be the process of arranging data in group or classes on the basis of common characteristic of data having a common characteristic are placed I one class and in this way the entire data get divided into a number of group or classes.
DATA INTERPRETATION
Ques 1: How many Welfare facility are you availing on routing basis?
0%
40% 50 %
1 to 5 5 to 10 1 & above 0
1 0%
Observation All the employees of Bank of India availing routine Welfare Facility 50% employees say that they are availed 10 & above Welfare Facility and reset of 40% & 10% employees saying that they are availing 1 to 5 and 5 to 10 Welfare facility respectively.
20 %
1 to 5 Not Availed
80%
Observation 80% employees says that they are availing 1 to 5 special welfare facility rested 20% employees are not availing any special welfare facility.
Ques3: How much time it will take sanctioning a routine welfare facility?
Observation From the chart it is observed that, all employees says that for sanctioning a routine welfare facility time require is 1 to 2 week.
Ques 4: How much time it will take sanctioning a special welfare facility?
1 to 2 week 3 week
90%
Observation From the above chart it is observed that 90% employees say that for sanctioning a special welfare facility time required is 1-2 week. & 10% employees says that time required for sanctioning welfare facility is 3 week
Ques 5: Briefly explain the procedure of availing routine welfare facility in point?
20
Making an application submit proof & immidiate sanction it Only application is required
80
Observation 80% employees says that to make the application submit proof & it sanction & rest of 20% employees say that only application is required
Ques 6: Briefly explain procedure for availing the special welfare facility ?
Observation 90% employees says that they have to just apply, submit proof & take approval of higher authority and only 10% employees says that the procedure is lengthy .
10
Highly satisfied
50 40
Observation The 50% employees of the bank are highly satisfied with the procedure of availing routine welfare facility while 40% employees are partly satisfied & the remaining 10% of employees are satisfied.
4% 0 6% 0
Observation The 60% employees of the bank are satisfied with the procedure of availing special welfare facility and remaining 40% employees are highly satisfied.
40 %
6 0%
Do not agree
Observation 60% employees are agreed that the welfare benefits plays as a motivational role. While 40% are highly agree on this issue.
0%
80%
Observation 20% employees say that to add some more welfare facility & 80% employees is not giving any suggestions.
Visit hrmba.blogspot.com for more project reports, presentations, notes etc. All the routine welfare facilities are availed by all the employees in
Bank of India in different proportion. More than 70% employees are availing routine welfare facility an routine basis. More than 30% employees are availing special welfare facility according to the need arise The time required for sanctioning the special welfare facility is maximum 2 week. The employee are not getting in storage facility for outdoor clothing The routine welfare facilities are availed by every one in the organization & time required is also nominal. The process of availing special welfare facility is very lengthy & hence it can be availed by simple process. The employees of Bank of India are highly satisfied with the routine welfare facility, which they are availing on regular basis. The employees of Bank of India are satisfied as they are getting special welfare facility with a simple process.
Suggestion
1) The employees should be provided with storage facility for external clothing
Limitation
1) The study may not cover each & every facility provided by the organization. 2) The result may be depended on the answer received from respondent. 3) The study does not cover entire workforce
CHAPTER 7: BIBLOGRAPHY
Sr.no
Authors
year
Tital
Cityof publishing
Publisher
Pages
V.S.P. Rao
2005
405 ,452
1997
HR.&Pers nnel New Delhi TataMc Manag o GrawHill Publishing Research Methodology R.M. New Delhi NewAge International Publishers Deep&Deep Publication Pvt.Ltd
446, 447
1985
1,8
P.P.ARYA
2002
New Delhi
14
WEBSITES
CHAPTER 8: QUESTIONNAIRE
Visit hrmba.blogspot.com for more project reports, presentations, notes etc.
2) How many special welfare facility have you availed? A) 1 to 5 B) Not Availed
3) How much time it will take sanctioning routine welfare facility? A) 1 to 2 week B) 2 to 3 week C) 1 to 2 month
4) How much time it will take sanctioning routine welfare facility? A) 1 to 2 week B) 3 week C) 1 to 2 week
A) Making an application submit proof & immediate sanctioning B) Only application is required
6) Briefly explain procedure for availing the special welfare facility? A) Make an application, submit proof of sanction it. B) Lengthy process C) Not availed 7) How much are satisfied about procedure of availing routine welfare facility? A) Highly satisfied B) Partly satisfied C) Satisfied
8) How much are you satisfied about procedure of availing special welfare facility?