INTRODUCTION TO THE COMPANY

The Jammu & Kashmir Bank was founded on October 1, 1938 under letters patent issued by the
Maharaja of Kashmir, Hari Singh. The Maharaja invited eminent Kashmiri investors to become
founding directors and shareholders of the bank, the most notable of which were Abdul Aziz
Mantoo, Pesten Gee and the Bhagat Family, all of whom acquired major shareholdings. The
Bank commenced business on July 4, 1939 and was considered the first of its nature and
composition as a State owned bank in the country. The Bank was established as a semi-State
Bank with participation in capital by State and the public under the control of State
Government.
Mission Of The Bank
Mission have been set to remain a financially strong, sound, growth oriented and profitable bank with
main focus towards providing convenient, reliable, cost effective and personalized services to all its
customers and globally competitive and foray with the business of banking. The objectives of bank
shall provide ‘Value Maximization’ to all its share holders i.e. its customers and employees.
Vision Of The Bank
• To make J&K Bank a good player built on trust by world-class people and service.
• Understanding the needs of customers and offering them superior products and
service.
• Leveraging technology to service customers quickly, efficiently and conveniently.
• Providing an enabling environment to foster growth and learning for our
employees.
• And above all, building transparency in all our dealings
 CHARACTERISTICS
• Private sector bank despite government holding 53 percent of equity.
• Sole banker and lender of last resort to the government of J&K.
• Plan and non plan funds, taxes and non tax revenues routed through the bank.
• Salaries of government officials disbursed by the Bank.
• Only Private Sectors Bank designated as agent of RBI for Banking.
• Carries out banking business of the Central Government.
• Collects Taxes pertaining to Central Board of Direct Taxes in J&K.

PRODUCTS AND SERVICES

Support Services:-
• Anywhere Banking
• Internet Banking
• SMS Banking
• ATM Services
• Debit Cards
• Credit Cards
• Merchant Acquiring
Depository Services:-
• Demat Account
• Other Services
Third Party Services:-
• Mutual Funds
• Insurance Services - Life & Non Life
• Remittance Services
 INTRODUCTION TO THE TOPIC
CUSTOMERS
There is no statutory definition of customers. The word customer appears in sec.131 of the
negotiable instruments, 1881 but it is not defined therein. Obviously, a reference has to be made
to the opinion expressed by eminent authorities on banking as also to the decided cases in order o
appreciate the interpretation of what connotes a customer.
A person becomes a customer of a bank when he goes to the bank with money or a cheque and asks
to have an account opened in his name and the bank accepts the money or cheque and is
prepared to open an account in the name of that person, after that he is entitled to be called a
customer of the bank.
CUSTOMER SATISFACTION
Customer satisfaction, in business terms, is a measure of how products and services supplied by
a company meet or surpass customer expectation. It is seen as a key performance indicator
within business. In a competitive marketplace, where businesses compete for customers,
customer satisfaction is seen as a key differentiator and increasingly has become a key
element of business strategy.
MEASURING CUSTOMER SATISFACTION
Customer satisfaction is an ambiguous and abstract concept and the actual manifestation of the state of
satisfaction will vary from person to person and product/service to product/service. The state of
satisfaction depends on a number of both psychological and physical variables which correlate with
satisfaction behaviours such as return and recommend rate.
The level of satisfaction can also vary depending on other options the customer may have and other
products against which the customer can compare the organization's products.
 TYPES OF DEPOSITS PRODUCTS
Our bank provides diverse range of deposit products to meet expectations and requirements
of different customer segments and add value to them. The deposit products offered by
the bank are assigned different names and can be categorized broadly into the following
types. Definition of major deposit schemes is as under:
SAVING ACCOUNT
Salient features:
• Account can be opened with a minimum initial deposit of Rs.100/- to Rs.500/-
• Convenient and easy to operate account to save time and money.
• Suitable for irregular income group No time bar on depositing or withdrawing money.
MEHANDI DEPOSIT
Salient features:
• Exclusively for the girl child. - Available in five maturity slabs of 5,7,10,12 and 15
years.
• The amount payable under the scheme is predetermined as Rs.25,000/-, Rs.50,000/-
and Rs.1,00,000/-.
• More the period, lesser the amount to be deposited.
• Free Personal Accidental Insurance Cover, equivalent to the amount payable at the
maturity of the deposit.
 GLOBAL ACCESS CARD
• Global Access Card
Salient features
• Pin Based -Maestro / Cirrus Debit Card.
• Provides online access to savings or current account.
• Accepted at all Domestic as Well as International MasterCard™,Maestro™,Cirrus™ Enabled ATM's and Point Of Sale
locations.
• Accepted at National Financial Switch (NFS) ATM's.
• No Transaction Fee at JK Bank ATM's
• No Transaction Fee on purchases
Credit Card
Customer Benefits
• 20-50 day Credit Free Period
• Revolving Credit Facility on paying of minimum payment due in the same billing period.
• Hassle free credit facility at competitive rate of interest.
• Cash Withdrawal Facility upto 20% of total credit limit.
• Loyalty programme
• 24 Hour Customer Assistance at JK Bank Helpdesk.
INTERNET BANKING
• Available for both Retail and Corporate users.
• SMS Banking
• Statement of Accounts.
• Funds Transfer.
 OBJECTIVE OF THE STUDY
The objectives of the present study, undertaken to review the customer services in J &K Bank are:-

• To examine the experience and expectations of the customers regarding deposit products
& financial services of J&K Bank.
• To inquire into the reasons for the customers happiness and dissatisfaction with the
services provided by J&K Bank regarding deposit products & financial services.

SCOPE OF THE STUDY

Since the concept of customer satisfaction is very wide with varied dimensions, the study
solicited views pertaining to experience & expectations of the customer regarding deposit
products; reasons for the customer happiness with the services/ facilities rendered by J&K
Bank.
 RESEARCH METHODLOGY
• The research methodology adopted conclusive and descriptive to study
customer satisfaction with special reference to J&K Bank services.
• As the term suggests, conclusive research is meant to provide information
that is useful in reaching conclusions or decision making. The purpose of the
conclusive research is to provide a reliable or representative picture of the
population with valid research instrument.
RESEARCH DESIGN
• Research design is the plan, structure and strategy of investigation conceived so
as to obtain answers to research can be called fact oriented; it may be defining
hypothesis, it may suggest new opportunities, such that we had carried
exploratory research that covers the survey of individuals with interview.
Typically, a research design involves the following components, or tasks:
• Defining the information needed.
• Designing the research.
• Specifying the measurement and scaling procedures.
• Constructing and presenting a questionnaire or an appropriate form for data
collection.
• Specifying the sampling process and sampling size.
• Developing a plan of data analysis.
 Research design encompasses the following
- Data Collection
- DATA COLLECTION

After the research problem in marketing has been identified and selected, the next step is to
gather the requisite data. At this stage,there is much temptation among the researchers to
organize the field survey to collect the data. While a field survey may be necessary for
data collection, it should be resorted to only when all other sources of data collection
have been exhausted.
Process Of Data Collection:
There are two basic types of data: Secondary & Primary.
1) Secondary Data
2) Primary Data

SAMPLE SIZE
Sample Size:The sample size taken is 100
Data analysis and
interpretation
Q1. How long have you been a
customer of J&K bank?

Respondents

30

25

20

15 Respondents
10

0
Less than 1 1-3 years 3-5 years 5-7 years More than 7
year years
Q2. Are you aware of the any/ all of
the deposit products”?
Respondents

12%

23%
SB Ujala

Child Care Deposit

Mehandi Deposit

Smart Saver
27%
Flexi Deposit

16% Recurring Plus

11% 11%
 Q3.What type of deposit products
services you access with J&K bank?
Respondents

90
100
80
Axis Title

60
40 Respondents
18 21
8
20
0
Saving Account Current Account Fixed Deposit Recurring Deposit
Axis Title
 Q4. How would they rate that
particular services being provided by
the J&K bank?
Respondents
2% 1%

11%
24%

Excellent
62% Good
Average
Poor
Very Poor
Q5. Are you aware of the following
financial services of the J&K bank?

Respondents

20%

Internet banking
48% Credit card
Depository networks
Debit/atm card

28%

4%
 LIMITATIONS OF THE STUDY
 The sample size for the survey was small.
 Problems with incomplete questionnaires.
 The analysis is based on the respondents reply, so there is an
element of error.
 The Direct personal investigation is restricted in scope.
 Results are bound to be bias due to personal biasness.
 Investors sample was very less, so it may not represent the actual
results.
 The respondent might not respond actual feelings or facts either
to demonstrate a superior status or by being frivolous while
filling up the questionnaire.
 Coverage of survey area is not sufficient to reach a satisfactory
conclusion
 CONCLUSION
The success of any service sector organization/ bank depends on the loyalty of the
customers and positive customer service orientation of the staff. The major
challenge for bank today is their capacity to integrate with their national and
global counterparts without sacrificing their own cultural ethos.
The future of the government banks depends upon their capability to
provide better services in terms of variety, quality and cost. The government
banks have to realize the implication of market economy & adjust accordingly.
However, the J&K bank will have to equip itself to meet the challenges of
tomorrow banking. With the committed performance, leadership,
professionalization of management, knowledge, skill, adoption of new
technology & positive attitude of employees of the bank, these organizations
have a bright future.
The future of the bank depends upon their capability to provide better service in
terms of variety, quality & cost. It is a matter of great satisfaction for the bank
that the vast majority of rural & urban middle class people & the poor regard
the J&K bank, as their own bank & like to associate with them, if they can
provide the optimum economic benefits. Given sincerity of approach, sound
management & customer service, there is a tremendous scope of bank to grow
in the liberalized economy, notwithstanding the competition that is emerging in
the changed economic scenario.
 FINDING SUGGESTIONS
• Most of the customers were male. So bank should motivate female to be the customers
of J&K bank.
• Majority of the customers are those who were the customers of the bank for more than
5 years. But the percentage of new customers was very low. So bank should make a
strategy to attract new customers.
• Very few of the customers are aware of the different deposit schemes being provided
by the bank. So high level awareness/ advertisements/promotions are needed to be
done in order to promote these deposit schemes/products.
• The customers of J&K bank are having no knowledge regarding their Depositary
networks & are having very less information about Internet banking. They should be
made aware through various programmes.
• Lack of information accessibility regarding interest rates/new offers is also the major
hurdle in promoting their services. It should be eradicated.
• The bank should encourage its employees to be friendly & helpful in their dealing with
customers.
• There should be automatic renewal of fixed deposits.
• There is still room for the better operations of the financial services.
• Number of ATM’s should be increased.
 BIBLOGRAPHY

REFERENCE BOOKS
 Marketing Management by Philip Kotler.
 Marketing Management by C.N. Sontakki.
WEBSITES
• www.j&kbank.net
• www.rbi.org.in
• www.business.com
Thank You