1.

INTRODUCT
ION

Page | 1
 INTRODUCTION

Banking system of a nation is the shadow of nation’s economy. A healthy and

profitable banking system is just like the backbone of nation’s economy. It is
necessary for a nation to achieve growth and remain stable in this global
world and global economy. The Indian banking system, with one of the
largest banking networks in the world, has witnessed a series of reforms over
the past few years like the deregulation of interest rates, dilution of the
government stake in public sector banks (PSBs) and the increased
participation of private sector banks.

1.1 History of INDIAN BANKING SYSTEM

Banking in India originated in the last decades of the 18th century. The first
banks were The General Bank of India, which started in 1786, and the Bank
of Hindustan, both of which are now defunct The oldest bank in existence in
India is the State Bank of India, a government-owned bank that traces its
origins back to June 1806 and that is the largest commercial bank in the
country. Allahabad Bank, established in 1865 and still functioning today, is
the oldest Joint Stock bank in India.

Central banking is the responsibility of the Reserve Bank of India, which in

1935 formally took over these responsibilities from the then Imperial Bank of
India, relegating it to commercial banking functions. After India's
independence in 1947, the Reserve Bank was nationalized and given broader
powers. In 1969 the government nationalized the 14 largest commercial
banks; the government nationalized the six next largest in 1980.

Page | 2
 In 1948, the Reserve Bank of India, India's central banking
authority, was nationalized, and it became an institution owned
by the Government of India.

 In 1949, the Banking Regulation Act was enacted which

empowered the Reserve Bank of India (RBI) "to regulate, control,
and inspect the banks in India."

 The Banking Regulation Act also provided that no new bank or

branch of an existing bank could be opened without a license
from the RBI, and no two banks could have common directors

Page | 3
1.2 Liberalization in INDIAN BANKING SYSTEM

In the early 1990s, the then government embarked on a policy of

liberalization, licensing a small number of private banks. These came to be
known as New Generation tech-savvy banks, and included Global Trust Bank
(the first of such new generation banks to be set up), which later

Page | 4
amalgamated with Oriental Bank of Commerce, Axis Bank(earlier as UTI
Bank), ICICI Bank and HDFC Bank. This move, along with the rapid growth in
the economy of India, revitalized the banking sector in India, which has seen
rapid growth with strong contribution from all the three sectors of banks,
namely, government banks, private banks and foreign banks

The next stage for the Indian banking has been setup with the proposed
relaxation in the norms for Foreign Direct Investment, where all Foreign
Investors in banks may be given voting rights which could exceed the
present cap of 10%, at present it has gone up to 49% with some restrictions.

The new policy shook the Banking sector in India completely. Bankers, till
this time, were used to the 4-6-4 method (Borrow at 4%; Lend at 6%; Go
home at 4%) of functioning. The new wave ushered in a modern outlook and
tech-savvy methods of working for traditional banks. All this led to the retail
boom in India. People not just demanded more from their banks but also
received more.

Currently (2009), banking in India is generally fairly mature in terms of

supply, product range and reach-even though reach in rural India still
remains a challenge for the private sector and foreign banks. In terms of
quality of assets and capital adequacy, Indian banks are considered to have
clean, strong and transparent balance sheets relative to other banks in
comparable economies in its region. The Reserve Bank of India is an
autonomous body, with minimal pressure from the government. The stated
policy of the Bank on the Indian Rupee is to manage volatility but without
any fixed exchange rate-and this has mostly been true.

With the growth in the Indian economy expected to be strong for quite some
time-especially in its services sector-the demand for banking services,
especially retail banking, mortgages and investment services are expected
to be strong. One may also expect M&As, takeovers, and asset sales.

Page | 5
Currently, India has 88 scheduled commercial banks (SCBs) - 27 public
sector banks (that is with the Government of India holding a stake), 31
private banks (these do not have government stake; they may be publicly
listed and traded on stock exchanges) and 38 foreign banks. They have a
combined network of over 53,000 branches and 17,000 ATMs. The public
sector banks hold over 75 percent of total assets of the banking industry,
with the private and foreign banks holding 18.2% and 6.5% respectively.

1.3 The Origin of ING Group

ING group originated in 1990 from the merger between “Nationale

Nederlanden” the largest Dutch Insurance Company and “NMB Post Bank”
Group. Combining roots and ambitions, the newly formed company called
Internationale Nederlanden Group ﾝ . Market circles soon abbreviated the
name to I-N-G. The company followed suit by changing the statutory name
to ING Group. ING is a global financial services company providing banking,
investments, life insurance and retirement services and operates in more
than 50 countries.

PROFILE

ING is a global financial institution of Dutch origin offering banking,

investments, life insurance and retirement services. ING serve more than 85
million private, corporate and institutional customers in Europe, North and
Latin America, Asia and Australia. They draw on their experience and
expertise, their commitment to excellent service and their global scale to
meet the needs of a broad customer base, comprising individuals, families,
small businesses, large corporations, institutions and governments

STRATEGY

Page | 6
ING’s overall mission is to help customers manage their financial future.
Capitalizing on

changing customer preferences and building on our solid business

capabilities, ING’s strategic focus is on banking, investments, life insurance
and retirement services. They provide retail customers with the products
they need during their lives to grow savings, manage investments and
prepare for retirement with confidence. With wide range of products,
innovative distribution models and strong footprints in both mature and
developing markets, ING has the long-run economic, technological and
demographic trends on their side. ING aligns its business strategy around a
universal customer ideal: saving and investing for the future should be
easier. While steering the business through turbulent times, ING will execute
efforts across all its business lines to strengthen customer confidence and
meet their needs, preserve a strong capital position, further mitigate risks
and bring its costs in line with revenue expectations.

COPERATE RESPOSIBILITY

ING wants to pursue profit on the basis of sound business ethics and respect
for its stakeholders. Corporate responsibility is therefore a fundamental part
of ING’s strategy: ethical, social and environmental factors play an integral
role in business decisions.

1.4 FINANCIAL RESULTS

FY FY2007 FY200 FY20 FY20

2008 6 05 04
Income (in EUR milion)
Insurance operations 54,851 62,208 59,642 57,40 55,61
3 4
Banking operations 11,731 14,602 14,195 13,84 12,67

Page | 7
 8 8
Total Income1 66,291 76,587 73,621 71,12 68,17
0 1
Operating Expenses
Insurance operations 5,422 5,515 5,275 5,195 4,746
Banking operations 10,303 9,967 9,087 8,844 8,795
Total operating expenses 15,725 15,481 14,362 14,03 13,54
9 1
Addition to loan loss provision 1,280 125 103 88 465
Banking operations
Insurance result before tax -1,635 6,533 4,935 3,978 4,322
Banking result before tax 148 4,510 5,005 4,916 3,418
Total result before tax -1,487 11,043 9,940 8,894 7,740
Taxation -721 1,534 1,907 1,379 1,709
Minority interests -38 267 341 305 276
Net result -729 9,241 7,692 7,210 5,755

Figures per ordinary share

(EUR)
Net result -0.36 4.32 3.57 3.32 2.71
Earnings 2)
-0.56 4.32 3.57 3.32 2.71
Dividend 0.74 1.48 1.32 1.18 1.07
Shareholders’ equity 8.55 17.73 17.78 16.96 12.95

Balance Sheet (in EUR

billion)
Total assets 1,332 1.312 1,226 1,159 964
Total equity 29 40 41 38 28
Shareholders’ equity 17 37 38 37 28

Capital Ratios (%)

Page | 8
ING Group debt/equity ratio 13.8% 9.5% 9.0% 9.4% 10.2%
Insurance capital coverage ratio 256% 244% 274% 255% 204%
Insurance debt/equity ratio 8.5% 13.6% 14.2% 13.4% 14.3%
Bank Tier-1 ratio 9.32% 7.39% 7.63% 7.32% 6.92%
Market capitalisation (in EUR 15 60 74 65 49
billion)

Shares (in millions):

Outstanding 2,063 2,226 2,205 2,205 2,205
Preference shares outstanding - 16 63 87 87

Key Performance Indicators

- Net return on equity (ROE) -2.1% 24.2% 23.5% 26.6% 25.4%
- Net result growth -108% 20% 7% 25% n.a.
Insurance
- Value of new life business 1,023 1,113 807 805 632
- Internal rate of return 13.9% 14.3% 13.3% 13.2% 12.1%
- Combined ratio (non-life) 97% 97% 91% 95% 94%
Banking
- Cost/income ratio 87.8% 68.3% 64.0% 63.9% 69.4%
- RAROC after tax 1.2% 19.9% 19.7% 22.6% 14.5%

Assets under management 551 643 600 547 492

(in EUR billion)

Staff (FTEs end of period) 124,66 124,63 119,80 116,6 112,1

1 4 1 14 95

1.5 The ING Vysya BANK Ltd.

Page | 9
ING Vysya Bank Ltd., is an entity formed with the coming together of
erstwhile, Vysya Bank Ltd, a premier bank in the Indian Private Sector and a
global financial powerhouse, ING of Dutch origin, during Oct 2002.

The origin of the erstwhile Vysya Bank was pretty humble. It was in the year
1930 that a team of visionaries came together to form a bank that would
extend a helping hand to those who weren't privileged enough to enjoy
banking services.

ING and ING Vysya Life Insurance are headquartered at Bangalore, while the
corporate office of ING Investment Management is situated at Mumbai. The
synergies arising out of the three distinct but complimentary businesses are
bound to be an asset to the group in the changing market dynamics of the
future. The first such signs are already visible on the horizon with combined
products being successfully launched by the different entities of the group in
conjunction with each other

It's been a long journey since then and the Bank has grown in size and
stature to encompass every area of present-day banking activity and has
carved a distinct identity of being India's Premier Private Sector Bank.

In 1980, the Bank completed fifty years of service to the nation and post
1985; the Bank made rapid strides to reach the coveted position of being the
number one private sector bank. In 1990, the bank completed its Diamond
Jubilee year. At the Diamond Jubilee Celebrations, the then Finance Minister
Prof. Madhu Dandavate, had termed the performance of the bank
stupendous. The 75th anniversary, the Platinum Jubilee of the bank was
celebrated during 2005.

The long journey of seventy-five years has had several milestones

Page | 10
1
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Page | 11
1
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Pion
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t of
Co
bra
ndi
ng The ING Vysya Bank DEHRADUN
of
Cre ING Vysya Bank Dehradun branch was established somewhere in September
dit
Car 2008 and it stands at third position in the region for its performance. It is the
ds newest Private Sector Bank in the city and yet has achieved a remarkable
growth rate in past 7 months. It has got its Journal Ledger of the size of
1 Rs.120,000,000 (12 crore rupees) and has got customer base of 1800 well
990
P satisfied happy customers. Every month around 30 to 40 saving accounts are
rom opened which shows the consistency of the Bank and currently bank holds
ote
d around 1500 saving bank accounts.
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2.OBJECTIVE
igns
Stra
tegi
c
Alli
anc
e
OF THE
wit
h
BBL STUDY
.,
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m.
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Exp
ort
Pro
mot
ion
Cou
ncil
for
exc
elle
nt 2.1 PRIMARY OBJECTIVE:
perf
• To thoroughly study the products & services of ING Vysya Bank.
orm
anc
• To compare the banking products and services offered by ING Vysya
e in
Exp Bank and other private banks (ICICI & HDFC)
ort • To study the customer’s expectations, behavior, responses &
Pro preferences for various saving accounts of ING Vysya Bank.
mot
ion

Page | 13
1
998
C
Man
age
me
nt
Ser
vice
s, & • To study the marketing strategies adopted by ING Vysya Bank to
co maintain & increase its market share & to retain its customers.
mm
issi 2.2 SECONDARY OBJECTIVE:
oni
ng • To study banking operations.
of
VSA • To get the knowledge about marketing strategies of bank.
T.
Gol
den
Pea 2.3 DURATION OF THE STUDY
coc
k Duration of the study is 14 weeks.
Awa
rd -
for
the
2.4 LIMITATIONS
bes
t • Research is only done in Dehradun city
HR
Pra • Research is self-financed so money is a major constraint
ctic
es • Respondents are biased toward their current bank.
by
Inst • Time is 14 weeks, so much of economic fluctuations are not seen
itut
e of
Dire
ctor 2.5 SCOPE OF STUDY
s.
Rat The scope of any study can be defined in terms of the area and the sample
ed
size which will be reviewed for satisfying the objective of the subject matter.
as
Bes The first part of the report can be made on the basis of the secondary data
t
collected about the different saving bank accounts of private sector banks
Do
mespresent in Dehradun via internet, magazines and journals.
tic
Ban The scope of the study is in Dehradun, and around 100 people are targeted
k in
Indi for the survey which is done through questionnaire.
a
by As the scope of study is limited to Dehradun and to 100 people only, thus
Glo
picture presented in the testimony may not be the complete picture.
bal
Fina
nce Page | 14
(Int
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3. LITRATURE
a
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REVIEW
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Plus
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Page | 16
per
son
al
assi
nt
ser
vice
,
Sav
e&
Sec
ure, LITRATURE REVIEW
an
acc
oun
t
that 3.1 Types of saving accounts offered by ING Vysya Bank
pro
vid
es
acci A) ORANGE SAVINGS ACCOUNT:
den This account is the basic product of ING Vysya Bank. In this account
t
hos minimum cash balance required to open an account & the Quarterly Average
pita Balance requirement is Rs5000. Some of the major features and benefits of
lizat
ion this account are:
and
insu
ran FREE
ce • Free issue of International Debit Card.
cov
er, • Unlimited ATM transactions at over 25,000 (Cirrus/Cashnet) ATM’s in
Sa
India, where QAB is maintained.
mb
and • Shopping convenience at over 2 Lakh merchant locations, with the ING
h,
Vysya International Debit card.
the
Inte • Unlimited ATM transactions at over 196 ING Vysya ATM’s.
rnat
ion • 2 Demand Drafts with a value not exceeding Rs.50,000 per annum,
al where QAB is maintained.
Deb
it • Unlimited usage of payable at par (PAP) Cheques.
Car
d • Transfer of funds across all branches.
and • National Electronic Funds Transfer (NEFT) through the internet
the
mi- banking channel.
b@ • Electronic Bill Payment service.
nk
net • Smartserv - Personal Assistance Service.
ban
kin • Statement of Account through E-mail.
g
ser
vice Page | 17
.

2
ING
tak
es
ove
r
the • Mi-b@nk - Internet banking facility.
Man
age • RTGS (Real Time Gross Settlement) transactions at all branches.
me
• AAA Cash deposit (Customers) – Free up to 2 transactions per month
nt
of and a value limit of Rs. 50,000/-
the
Ban
k
fro
BENEFITS
m
Oct • Free unlimited access to 25,000 + other bank ATM’s- enhanced
obe
r accessibility.
7th • Free multi branch, Multi-city banking convenience.
,
200 • Payable at par Cheques.
2
• Smartserv- Personal Concierge Services.

2
002
RBI B) ING FORMULA SAVINGS ACCOUNT:
clea
rs
the This is the product of ING Vysya Bank which is targeted towards the upper
new
na middle class segment of the society. Basically the targeted segment is the
me age group between 18-40 yrs. This product has its significance particularly in
of
the Metropolitan/A grade cities. This product is also useful for people who travel
Ban frequently particularly to Metropolitan/A grade cities.
k as
ING Minimum cash balance required to open this account and Quarterly Average
Vys Balance requirement is Rs. 25000/-
ya
Ban
k Some of the major features and benefits of this account are :
Ltd,
vid • Maximum withdrawal limit from ING’s ATM or any other bank’s ATM is
e
Rs. 50,000.
thei
r • Maximum shopping limit through ING’s ATM/Debit card is Rs. 75,000.
lett
er • Free Payable at Par cheques.
of
• Exclusive F1 themed, Internet Banking services.
17.
12. Page | 18
02

2
Intr
odu
ced
cust
om
er • Formula 1 International Debit card.
frie
ndl • Free sms alerts on transactions above Rs. 1500.
y
pro
duc SPECIAL BENEFITS CARD
ts
FUEL GAUGE
like
Ora • Fill fuel across any petrol pump in India and get the 2.5% surcharge
nge
Sav waived.
ings
,
Ora
nge
Curr
ent SPEED LAP
and • Shop using your ING Formula savings account and get Formula One
Prot
ect merchandise.
ed
Ho
me RACE DAY
Loa • Whenever there is a Formula 1 race anywhere in the world, there is
ns
a race for u as well. Shop using your ING Formula debit card on the
day of the race and top 25 spenders for the race day wins vouchers
2
004 from ING.
Intr
odu • 3 winners – Gift vouchers worth Rs. 5000/-
ced • 10 runner ups- Gift vouchers worth Rs. 2000/-
Prot
ect • 12 second runner ups- Gift vouchers worth Rs. 1000/-
ed
Ho
me
Loa
ns - C) PLATINA ACCOUNTS
a This product (account) of ING Vysya Bank is a special product for special
hou
sing class of customers. This can also be termed as Preferred Platina Banking.
loa This product is designed to reduce the efforts put in handling banking and
n
pro financial needs. This product has special features which are mainly meant for
duc business class people who have to make large payments and have regular
t
Page | 19
2
005
Intr
ced
Sol
o-
My
Ow
n transactions. The Platina account holder becomes the preferred customer of
Acc
oun the bank.
t forThe average quarterly balance (QAB) is Rs. 100,000
you
th
and Features:
Cus
tom • Dedicated Relationship Manager
er Our dedicated relationship managers can help you manage your money;
Ser
vice while you pursue your passion, be it business or pleasure.
Line • Wealth Management Service
–
Pho Our preferred banking services offer you customized financial strategies
ne
on how to invest and where to invest based on simple financial risk
Ban
kin profiling.
g
Ser • ING Platina Debit Card
vice Use your ING Platina Gold Debit Card and withdraw cash up to Rs1 lac per
day from any ATM, Avail a 1% cash back on shopping with your Debit
2
Card.
006
B • Account Representative Services
ank
has Now when you are out building a business empire or taking that well
net deserved vacation, just nominate someone else to do your routine
wor
ked banking enquires.
all • Preferential rates on ING products
the
bra Get more out of the Platina relationship. Avail preferential rates on
nch Demat, Bank Lockers, Personal and Home loans.
es
to
facil
itat
e 3.2 Types of saving accounts offered by other private banks
AAA
tran
sact ICICI BANK
ions
i.e.
Any A) ICICI Savings Bank Account:
whe
re, Page | 20
Any
tim
e&
Any
Ban
kin
g

ICICI Bank is also offering the saving accounts as their products.

• The ICICI Bank International debit card is a debit-cum-ATM card

provides with the convenience of acceptance at merchant
establishments and cash withdrawals at ATM.
• Money Multiplier Facility
• Internet Banking is offered free of cost.
• Anywhere Banking facility entitles the account holder to withdraw or
deposit cash upto a limit of Rs.50,000 across all ICICI Bank branches.
• An average quarterly balance of Rs.10,000 only in metro and urban
locations.
• Nomination facility is available.
• Interest is payable half-yearly.

Third party withdrawal limit is only Rs 15,000 and free demand draft making
facility for a month is only up to Rs 10,000. Free withdrawal limit from ATM
card is only up to Rs 25,000 in all accounts.

B) GOLD PRIVILAGE ACCOUNTS

The Gold Privilege Account brings the customer exclusive benefits, especially
created for valuable customers. The minimum quarterly average balance
(QAB) requirement for Gold Privilege account is Rs.50,000. Non-maintenance
of the required QAB in any quarter attracts a charge as per the following
guidelines:

If QAB is between Rs.50,000 and Rs.25,000, charge of Rs.250 will be levied

If QAB is between Rs.25,000 and Rs.10,000, charge of Rs.500 will be levied
If QAB falls below Rs.10,000, charge of Rs.750 will be levied
Your Gold Privilege account entitles you to select privileges and offers:

Page | 21
BENIFITS
• Jump Queue facility in ICICI Bank branches.
• Free usage of payable-at-par chequebook.
• International VISA Gold debit card with higher daily withdrawal and
spend limit.
• Waiver of annual fee for Debit card.
• Free and Unlimited access (cash withdrawals and balance enquiry) to
any Bank's ATM in the country using ICICI Bank International Gold
Debit card.
• Waiver of DD/PO charges for up to Rs.100,000 per day.
• Waiver of Anywhere Banking charges across all ICICI Bank branches.
• Priority Processing through ICICI Bank Phone Banking.
• Preferential rates for Gold Coins.
• Better rates for Foreign Exchange Service.
• Discounts on Safe deposit locker facility.
• Special asset deals from time to time.
C) TITANIUM PRIVILAGED ACCOUNT

This product from ICICI is mainly to serve privileged customer (upper class)

In constant endeavor to fulfill all the banking needs and enhance exclusivity
ICICI Bank launched Titanium Privilege Account - tailored to take care of
customer’s banking and investment requirements and status. This account
offers a dedicated Branch Relationship Manager supported with a Phone
Banking Relationship Manager.

Customer can realize the benefits of a Titanium Privilege Account on the

basis of his total relationship value (TRV) with the bank. Customer need to

Page | 22
maintain a TRV of between Rs. 5 lac and Rs. 10 lac and a quarterly average
balance (QAB) of Rs.75,000. In addition to this, there is waiver of QAB
charges, subject to FD of min. 3.75 Lac.

BENIFITS
• Branch Relationship Manager supported with Phone Banking
Relationship Manager.
• Priority processing at all ICICI bank branches and through customer
care.
• A higher daily withdrawal and spend limit on a Titanium debit card.
• Free International Titanium Debit Card.
• Unlimited free access to any bank’s ATM throughout the country.
• Free usage of multi-city cheque book.
• Free physical monthly account statement.
• Anywhere banking.
• Complete waiver on DD/PO charges.
• Preferential rate on purchase of ICICI Bank Pure Gold.
• Preferential rates on purchase of foreign exchange with a complete
waiver on commission charges.
• Discounted rates on safety locker charges.
HDFC BANK

A) REGULAR SAVING ACCOUNT

An easy-to-operate savings account that allows customer to issue cheques,
draw Demand Drafts and withdraw cash. Customer can check balances from
the comfort of his home or office through NetBanking, PhoneBanking and
MobileBanking.
Withdrawal of cash from any of the 3275 ATM centers spread across the
country.

Page | 23
FEATURES & BENEFITS

• Facilities like NetBanking and MobileBanking.

• Customer can check the account balance, pay utility bills or stop
cheque payment, through SMS.
• Personalized cheques with customer’s name printed on each cheque
leaf for enhanced security.
• Advantage of BillPay, an instant solution to all frequent utility bill
payments. Instructions for payment over the phone or through the
Internet.
• Customers can avail the facilities like Safe Deposit Locker, Sweep-In
and Super Saver facility on their account.
• Free cash withdrawals on any other Bank's ATM
• Free Payable-at-Par chequebook, without any usage charges upto a
limit of Rs.50,000/- per month.
• Free InstaAlerts for all account holders for lifetime of the account.
• Free Passbook facility available at home branch for account holders
(individuals).
• Free Email Statement facility.

B) SAVING MAX ACCOUNT

Welcome to a world of convenience. HDFC has presented SavingsMax

account, loaded with maximum benefits to make banking experience a
pleasure. By maintaining an average quarterly balance of just Rs. 25,000/-
customer can get a host of premium services from HDFC Bank.

Page | 24
FEATURES & BENIFITS

• Free unlimited transactions: Cash withdrawal and balance enquiry, at

all HDFC Bank ATMs & on any other Bank's ATM using your HDFC Bank
Debit Card.
• Free Gold Debit Card for primary account holder for lifetime of the
account. Gold Debit Card for other account holders at Rs 250/- p.a.
• Free Woman's Advantage/International Debit Card for all account
holders for lifetime of the account.
• Free Payable-at-Par (PAP) chequebook, without any usage charges
upto a limit of 1 lac per month.*
• Free Demand Drafts on HDFC Bank locations, upto a limit of 50,000/-
per day at home branch.
• Self/Third Party Cash Deposit/Withdrawal at non-home branches, upto
Rs 50,000/- per day free. Above Rs 50,000 a charge of Rs 2.90 per
thousand on the full amount would be applicable.
• Optional sweep out facility to transfer extra savings to a Fixed Deposit,
at the threshold of Rs.50,000/-.In the event of the balance in
SavingsMax account exceeding Rs 50,000/-, the amount in excess of
Rs 50,000/- will be swept out in to a Fixed Deposit with a minimum
value of Rs 25000/- for a 1year 1day period.
• Free BillPay & InstaAlerts for all account holders for lifetime of the
account.
• Free Monthly Statement of Account.
• 50% off on the Locker rental for the 1st year only.
• Folio maintenance charges on Demat account free for first year.
• Free National Electronic Funds Transfer facility, NetBanking,
MobileBanking.
• Free Passbook facility available at home branch for account holders

Page | 25
 (individuals).
• Free Email Statement facility

C) PREFERRED BANKING ACCOUNTS

This account has been offered by HDFC for its preferred customers, so as to
give special benefits to them. The minimum quarterly available balance
(QAB) that has to be maintained in this account is Rs. 2,00,000

FEATURES & BENIFITS

• Dedicated Relationship Manager

• Customized Investment Solutions
• Investment Options
• e-Broking
• Expedited Tax Payments
• Relationship Pricing
• Business Solutions
• On-demand exclusive privileges
• Annual Service Charge Waiver

Page | 26
3.3 CLASSIFICATION/ CATEGORIZATION
So, for convenience of the project and comparison the different accounts
can be classified into three categories:

Category A Category B Category C

1. PLATINA ACCOUNT FORMULA SAVING ORANGE

SAVING

(ING) ACCOUNT (ING)

ACCOUNT (ING)

2. TITANIUM PRIVILAGED GOLD PRIVILAGED SAVING

ACCOUNT

ACCOUNT (ICICI) ACCOUNT (ICICI) (ICICI)

3. PREFERRED BANKING SAVING MAX

REGULAR SAVING

ACCOUNT/PLATINUM ACCOUNT (HDFC) ACCOUNT

(HDFC)

(HDFC)

Service quality

Page | 27
 ING Vysya Bank provides the top notch quality to its customers. They
have so many special features that no other banks provide till date, like:

1. Special cabin/room for its customers to wait and relax when

there is a rush or when customer is asked to wait for some
time.

2. Fastest RTGS and NEFT services, which takes place within

minutes.

3. A well behaving staff and special highly sensitive customer

care department. This is head by a well efficient customer
care manager.

4. Account verification with in promised 5 days.

5. Working hours from 10 a.m. to 6 p.m. (7 in p.m. if any

customer is in need)

6. Doing things in the right way at right time.

7. It is the only Bank which provides the facility of withdrawal of

1 lakh rupees from any ATM at one go.

3.4 FINANCIAL FIGURES W

Page | 28
In Rs. Crores Q3 Q3 %
YTD YTD %
2008-09 2007-08 growth
2008 2007 growth

Net Interest Income 172.7 144.9 19.2% 487

357 36.1%

Other Income 149 95.7 55.9% 400

279 43.3%

Total Income 321.8 240.6 33.8% 887.8

637.5 39.3%

Operating Costs 215.3 158.9 35.5% 585.0

438 33.6%

Operating Profit 106.5 81.7 30.4% 302.8

199.5 51.8%

Operating Profit
after Exceptional 106.5 100 6.4% 302.8
219.8 37.7%
Items

Provision & 21.6 27.7 -22.1% 84.7

33.9 150.1%
Contingencies

Profit before Tax 84.9 72.4 17.3% 218.1

186 17.3%
Provision for Taxes 32.8 29.6 11% 78.4
71.9 9.1%
Profit after Tax 52.1 42.8 21.8%
139.7 114 22.5%

3.5 Growth at ING Vysya Bank.

Page | 29
In terms of pure numbers, the performance over the decades can better be
appreciated from the following table:

Rs. in millions

Yea
Networth Deposits Advances Profits Outlets
r

1940 0.001 0.400 0.400 0.001 4

1950 1.40 5.30 3.80 0.09 16
1960 1.60 20.10 13.50 0.13 19
1970 3.00 91.50 62.80 0.74 39
1980 11.50 1414.30 813.70 1.13 228
1990 162.10 8509.40 4584.80 50.35 319
2000 5900.00 74240.00 39380.00 443.10 481
2001 6527.00 81411.10 43163.10 371.90 484
2002 6863.24 80680.00 44180.00 687.50 483
2003 7067.90 91870.00 56120.00 863.50 456
2004 7473.20 104780.00 69367.30 590.01 523
2005 7094.00 125693.10 90805.90 (381.80) 536
2006 10196.70 133352.50 102315.20 90.6 562
2007 11101.90 154185.70 119761.70 889.0 626
2008 14260.00 204980.00 146500.00 1569.00 677

Even in the recessionary period the ING Vysya Bank is going in profits. While
other banks are losing a big percentage of their expected profits.

ING Vysya Bank Q3 Profit up 22%

Continued Profit Growth sustained by Strong Fee Income Performance

The Board of Directors of ING Vysya Bank Ltd. approved the unaudited
financial results of the Bank for the quarter and period ended 31 December
2008 at its meeting in Bangalore at 23rd January 2009.

3.6 FINANCIAL HIGHLIGHTS

Q3 Performance

Net Profit after Tax (PAT) for the quarter ended 31 December 2008 increased
by 22% to Rs.52.1 Crores from Rs.42.8 crores for the quarter ended 31

Page | 30
December 2007 and Profit before Tax (PBT) rose 17% to Rs.84.9 crores
from Rs.72.4 crores.

However, excluding the impact of exceptional items reported in the quarter

ended 31 December 2007, PAT grew by 70% and PBT by 57% over the same
quarter last year.

Net Interest Income (NII) was up 19% to Rs.172.7 crores from

Rs.144.9 crores and Fee & Other Income increased by 56% to Rs.149.1
crores from Rs.95.7 crores in the prior year.

Nine months ended December’08

The PAT for the period ended 31 December 2008 increased 23% to Rs.139.7
crores from

Rs.114.1 crores for the period ended 31 December 2007 and PBT grew 17%
to Rs.218.1 crores

from Rs.186.0 crores.

However, excluding exceptional items reported in the previous year, PAT

increased by 40% and

PBT by 32% over the corresponding period last year. NII grew 36% to Rs.
487.2 crores from Rs.

357.9 crores and Fee & Other Income was up 43% to Rs. 400.6 crores from
Rs. 279.6 crores in

the previous year.

3.7 Business Highlights

Total Deposits grew 25% to Rs. 22,401 crores as at end December 2008
from Rs.17,871 crores the year before. Current and Savings (CASA)
deposits rose 8% to Rs.5,819 crores as at end December 2008 from Rs.
5,406 crores as at end December 2007.

Page | 31
Advances grew 19% to Rs.16,014 crores in December 2008 from Rs. 13,409
crores in December 2007. Total Assets of the bank registered a 30% growth
to Rs.29,050 crores. The Credit Deposit Ratio was at 71.5% in December
2008 against 75.0% in December 2007.

The Gross NPA ratio and Net NPA ratio were at 1.84% and 1.09% respectively
as at 31 December 2008 compared to 1.81% and 0.71% respectively as at
31 December 2007. The net worth of the Bank as at 31 December 2008
stood at Rs.1,568 crores compared to Rs. 1,459 crores as at end December
2007 and the Capital Adequacy Ratio stood at 10.72% in December 2008. In
October 2008, the bank increased its capital through the issue of Tier 1
Perpetual debt amounting to approx. Rs.95 crores. Subsequent to the quarter
end, the Bank raised an additional Rs.200 crores of Upper Tier 2 capital
which has been subscribed entirely by ING Group.

3.8 ING Vysya FOUNDATION (ING – CSR)

World over ING has strengthened its name as a good corporate citizen. The
ING Chances for Children initiative (CFC) a global program in partnership
with UNICEF is to educate 50,000 underprivileged children in three countries,
Ethiopia, India and Brazil by 2008. In India the focus is primarily in the
districts of Dharampuri and Krishnagiri in Tamil Nadu. Through the national
Child labor Elimination (NCLP) bridge schools, ING provides much needed
support to UNICEF, to fund, monitor, and provide children with quality
primary education

The Indian arm of the Chances for Children programs is run by the support of
ING business units in India (ING, ING Life Insurance and ING Investment
Management) through the ING Vysya Foundation.

The Foundation was set up almost 3 year ago and was actively involved in
the post Tsunami rehabilitation of the victims. ING Group set up a dedicated

Page | 32
Tsunami Support account. In India, the Foundation partnered with five NGO
providing much needed financial support, from rebuilding of schools to
providing fishing boats, giving much needed hope to destroyed lives.

The Indian chapter of CFC involves the partnership of the Foundation with 7
NGO working in primary education. Not only does the Foundation provide
much needed financial support to these organizations but also runs strong
voluntary programs giving the employees a chance to meet the children,
work with them and take ownership and responsibility for the vision of its
partners. The Foundation creates systems that ensure CSR activities within
the organization. Various programs are initiated with the employees, whether
it is taking 100 children for a day out to the planetarium or watching a film
with them. It collectively influences the culture of the organization; and also
provides the employees with an opportunity to contribute to the vision of the
organizations CSR.

Recently ING Vysya Foundation launched its initiative “Run Ricky Run”. In this
initiative, for every run Ricky makes the Foundation will sponsor one child to
go to school through its association with its NGO partner in Bangalore,
SUKRUPA.

Addressing health care, poverty or human rights issues, there is no better

way than through the corridors of education. The main focus of the
Foundation in India is to support not for profit organizations working in the
area of education.

Page | 33
 DATA
4.

INTERPRETA

Page | 34
 TION AND
ANALYSIS

4.1 Comparative analysis of saving accounts:

a. Basic Saving Accounts (Category C)

Page | 35
PARTICULARS HDFC ICICI ING Vysya
ACCOUNT NAME Saving Savings Orange
Regular Account Savings
Account Account
AVERAGE
QUATERLY Rs10,000 Rs 10,000 Rs. 5,000

BALANCE

AQB Rs 750.00 Rs 750.00 Rs 750.00 per

per quarter per quarter Only.
MAINTAINANCE
Only. quarter
CHARGES
Only.
SWEEP OUT Available N.A Available

FACILITY
3 per month

FREE from N.A Unlimited from

SBI/Andhra any bank’s
TRANSACTIONS
Bank ATM ATM
THIRD PARTY N.A Rs.15,000 Rs.25,000 per

CASH per day day

WITHDRAWL/DEP
OSIT
NET BANKING Free Free Free

MOBILE BANKING Free Free Free

Page | 36
b. Preferred Saving Accounts (Category B)

PARTICULARS HDFC ICICI ING Vysya

Account name SAVING MAX GOLD FORMULA

ACCOUNT PRIVILAGE SAVING
D ACCOUNT
ACCOUNT

AQB (Average 25,000 50,000 25,000

Quarterly

Page | 37
 Balance)

Free DD Upto N.A. Upto

50,000/qat 50,000/qat.

Third Party Cash Upto 15,000 N.A. Upto 25,000

Deposit

Smart-serv N.A. N.A. Present

Free Transaction 6 in a year N.A. Unlimited

Direct 12 annual
Special Features Bill Preference passes of
Payments rates on famous night
from gold coins clubs and
accounts restaurants,
across India
Jump Que Facility Present N.A. Present

c. Privileged Saving Accounts (Category A)

PARTICULARS HDFC ICICI ING Vysya

Account Name Privileged Titanium Platina

Platinum

Page | 38
 QAB (Quarterly 2,00,000 75,000 + 1,00,000
Available Balance) TRV of 5 to
10 lac

DD/PO Wavier Available N.A. Available upto

upto 50,000 50,000

PAP books Unlimited unlimited unlimited

One Lakh Cash

N.A. N.A. Available*
withdrawal from
any ATM

Cash Back Offer N.A. N.A. 1 to 2 %

on Shoping*

Cashnet enabled N.A. N.A. Available

credit/debit card

4.2 FACTS AND PEOPLES’ PERCEPTION

A) SAVING ACCOUNTS OF RESPONDENTS IN THE BANK

Page | 39
As per the data collected and analyzed, most of the people in Dehradun
have chosen ICICI Bank for their banking. It is because ICICI was the first
private banking player in the newly formed state (U.K.) they hold the
accounts of 51% of the respondents. Next rank comes to HDFC with 31% of
accounts. ING has captured 18% (speculative) of the market share within 6
months of its establishment in the State.

Page | 40
 B) KNOWLEDGE OF THE ACCOUNT AND SERVICES
ASSOCIATED.

Page | 41
 C) QUARTERLY AVAILABLE BALANCE THAT HAS TO BE
MAINTAINED

It is the amount which one has to maintain for a single quarter. 45% of the
respondent were maintaining 5,000 rupees. 35% were maintaining nothing,
12% were holding 10,000 as their QAB. And 8% were holding more than
10,000 rupees.

Out of 45% of the respondents who maintain 5,000 rupees as their QAB,
most of the respondents are having account in ICICI and ING Vysya bank.

D) BANK PROVIDING SPECIAL FACILITY LIKE smart-

serve

Page | 42
Smart serv is type of special services in which a person can send/present
gifts to any of his/her known in any of the city by just telling your banker the
address of the person. The gift will be purchased and will be delivered by the
bank only, and the amount for the gift will be automatically deducted from
the sender’s account.

10% of the people who were really enjoying some of the special services
provided by bank were found to be associated with ING Vysya Bank.

E) PEOPLES’ RATING: ACCORDING TO THEIR

PERCEPTION

Page | 43
51% of the people have rated ICICI Bank as 1st, this is because of wide
market share of ICICI Bank. 2nd Rank has been awarded to HDFC Bank by
approximately 23% of respondents. 3rd rating is given to ING Vysya bank by
approx. 15% of the respondents. And last comes AXIS Bank. Thus ING Vysya
is better than AXIS and HDFC Bank in its Marketing Strategy.

F) PEOPLE’S MOST FREQUENT POINTS OF

INTERACTION WITH BANK

Page | 44
All of the bank customers interact most frequently with the bank by doing
their transactions from ATM. 35% of them visit branch quite often and 35% of
the respondents also go for phone banking. Internet Banking is the 2nd most
point of interaction of bank and the customer. People who use Internet
banking and mobile banking were found to be associated mainly with ICICI
and ING Vysya Bank. ING Vysya is having best Internet banking attributes.
This implies the technological advancement in Dehradun Citizens.

G) PERCEPTION OF RESPONDENTS ABOUT THEIR

BANK/S

Page | 45
4 - Most/excellent 3-
Reasonably good

2- Fair 1- Disappointing

1. Most of the people who are associated with ING Vysya Bank found
their Bank charges quite nominal and well justified. About 97% of the ING
Vysya customers state the same. Even AXIS Bank is charging best rates of
charges to its customers. ICICI customer agrees that they think of getting
better bank charges.

2. People have ranked ICICI at the top notch for its 12hrs. working
hours 8 to 8. Even ING Vysya operates from 10 to 7, which is 2 hrs. more
than HDFC and AXIS. Therefore ING Vysya Bank has an edge over AXIS and
HDFC as per working hours.

3. 80% people have again rated ICICI as one of the best banks location
wise. Its large no. of branches provides access to bank anywhere. As ING
Vysya has got no other branch in Uttrakhand it has been rated lowest as per
most of the respondents and ING Vysya customers. According to respondents

Page | 46
even AXIS and HDFC bank have no. of branches and are located at an
accessible location.

4- Most/excellent 3- Reasonably
good

2- Fair 1- Disappointing/least

4. Almost all respondents who are in connection with ING Vysya Bank
have rated it best in the customer care services. 55% of the respondent who
are associated with HDFC Bank have rated HDFC, reasonably good in
customer care services. But customer of ICICI and AXIS Bank are not very
much delighted with customer care services of their bank. This way ING
Vysya has got an advantage of delivering excellent customer care services.

5. In case of “Behavior of the Staff” most of the ING Vysya customers

have rated ING the best. Almost 100% of the ING customers are well
satisfied with their banker’s behavior. On the other hand 72% customers of
ICICI bank and other respondents as well have ranked ICICI as very
disappointing as per behavior of the staff. Most of them stated that when
they visit branch, any of the employee there, hardly pays full attention
towards them. Even some of the preferred customers have to stay in a cue
or have to wait for long to get their job done by the bank. HDFC and AXIS

Page | 47
Bank has been rated reasonably good by the respondents as far as behavior
of the staff is concerned.

6. With the criteria of Variety of Accounts, people have rated ICICI as

the top one. This is because ICICI is having bank accounts for the different
customers with different needs. They have account for old age citizen,
pension account, kids account of various types and many more. Whereas ING
Vysya has been rated least, because they are operating with only 3 types of
saving accounts in the city. They do have various other kinds of accounts but
these are not available in Dehradun. This is probably due to very less time of
their establishment. They are not providing the full services because its been
just 6 months that they have established in Uttrakhand (DEHRADUN).

4- Most/excellent 3-
Reasonably good

2- Fair 1-
Disappointing

Page | 48
 7. Most of the ING Vysya customers are happy with processing speed
of their banking transactions. ING Vysya Bank boasts about delivering the
commitment. According to the ING an account takes 5 days for activation.

8. The queries handling is done very well by ING Vysya bank according
to the respondents. 57% of the ICICI customers are unhappy with the bank
regarding their queries handling. Whereas AXIS Bank has been rated good.

H) VARIABLES INFLUENCING ACCOUNT OPENING IN A

PARTICULAR BANK.

1) I will prefer, if my friend recommends me to open an account

in a particular bank. ( WORD OF MOUTH)

Page | 49
 According to the respondents, they mainly disagree for opening a bank
account on their friend’s or relatives’ recommendation. And to 27% of
the respondents it doesn’t matter. Very few people agree to the
recommendation. This means that the WORD OF MOUTH is not an
essential marketing channel for opening an account in bank. People
first try to find the real facts by their own.

2) I am very cautious about Average Quarterly Balance non-

maintenance charge. (QAB)

Page | 50
 Many people are bothered about their QAB, and to 23% people QAB
doesn’t mean much. According to them they were never charged for
not keeping enough QAB.

3) I am generally motivated by the television add for saving

bank account.

Most of the respondents were unaware of the new advertisements of

various banks. For them it hardly plays any important role in capturing
market share.

4) I am generally bothered about the distance between my

home and

Page | 51
Most of the respondents were very much bothered about the distance from
their bank and home. That implies that PROXIMITY to bank is one of the very
BOLD VARIABLE for account opening.

5) I prefer saving bank account as it is popular.

Page | 52
6) I give importance to DD and cheque facility in saving bank
account.

7) I give preference to instant alert, net banking and phone

banking.

Page | 53
8) I give importance to the third party cash deposits and
withdrawal.

Page | 54
Page | 55
 5. OBSERVATIO
NS
&
RESULTS

The study conducted directs toward the Private Banking scenario in the city
DEHRADUN. Study suggested that a large market share has been captured
by ICICI Bank and HDFC Bank. Out of two ICICI is enjoying the maximum
market share. This is probably because of the reason that ICICI was the first
private bank in the state as well as in city.

Most of the people know about the account and services associated with it.
Most of the people are maintaining 5,000 rupees as QAB in their private
banking account, but most of them except ING Vysya customer are unaware
of the special facilities available.

Page | 56
People have ranked ICICI bank as best in the city. This is may be due to the
oldest persistence of ICICI bank in the city. They have rated HDFC as 3rd and
ING Vysya as 2nd.

Almost everyone comes in contact with their bank by the use of ATM
machines. 80% of the respondents were using internet banking that implies
high literacy rate in the city.

People think that the staff of ICICI does not behave well with their customers
but ING Vysya customers are glad with the staff of ING Vysya Bank. But on
the other hand ICICI customers are very happy with the working hours of
ICICI bank. HDFC customers are a bit unhappy with the working hours of
their bank.

People are very much bothered by the distance between their home and the
bank. They believe that this a major issue which influence the customer to
open an account in any bank. Most of the people are not entertained by the
television advertisements about various banks. Even word of mouth has not
been proved as strong marketing channel about banking. It implies that for
banking customer is looking at the commitment, real facts, distance
between their home and bank, behavior of the banker, QAB and many
more.

SWOT ANALYSIS

Page | 57
 Strengths Weakness

• ING as one on the biggest • Very few branches

financial MNC. 7th in 500 • Less variety of
fortune financial/banking products
• Only foreign bank which has • Location
acquired an Indian private bank
(Vysya Bank)
• Higher rate of interest than
other private banks
• Most of the financial plans are
legalized under 80(ccc)
• Top notch customer care and
staff behavior
• Unique features with different
kinds of accounts
• Working hours

Opportunities Threats

• New segment of doctors, • Presence of two top private

students and CAs as they like
innovation in their financial
needs and like to enjoy the
services.
• High class (upper strata)
population of city
• Increase in different kind of
financial products
• NGO and Public Relations
banking players in the market
(ICICI & HDFC)
• Large market share already
captured
• Non willingness of Dehradun
citizens to change for
something new, or to try
innovation in their banking.

6.REFERENCES
Page | 58
• www.ingvysyabank.com

• www.icicibank.com

• www.hdfcbank.com

• www.moneycontrol.com

• www.economictimes.com

• www.blackle.com

• www.wikipedia.com

Page | 59
7.APPENDIX

Page | 60
 Questionnaire

Comparative analysis of saving bank

accounts of different private sector banks
Dear respondent,

We are conducting a research to know the general perception and

attitude of customer towards the products & services that are offered
by ING Vysya Bank & other private banks (ICICI & HDFC) in Dehradun.
The information will be valuable input for the research and we assure
you that the information will be kept confidential. We hope that you
will co-ordinate with us and give quite a few minutes from your
precious time and give the genuine answer.

Personal Details:-
Name:-

Gender :- M F

Age:-

Address:-

Occupation:- Service
Professional
Businessman

Page | 61
 Others (Please Specify)…………..

Educational Qualification:- Under Graduate

Graduate

Post graduate

Phone no.(Optional):-

Annual Income:- Below 1 Lac

1 Lac – 3 Lac
3 Lac - 5 Lac
Above 5 Lac

1) Do you have a saving account in any of the Private banks in Dehradun

?

a) Yes

b) No

2) In which of the following banks do you have saving bank account?

1. ING Vysya Bank

2. ICICI Bank 4. Any Other Bank

3. HDFC Bank (Please Specify………

…………………)

Page | 62
3) Do you have complete knowledge of the saving account and services
associated with that account you have?

a) Yes

b) No
c) Can’t say

4) Are you a preferred/privileged customer of your bank?

a) Yes b) No

5) How much Quarterly Available Balance (QAB) you need to maintain?

a. Nil

b. 5,000

c. 10,000

d. More than above

6) Does your Bank provides you some special services like, smart serv,
mi-banking?

a. Yes

b. No

Page | 63
 7) Please rate the following banks on the scale of 4 where 1is the least
and 4 is the most according to your perception you are having for
reputation of the banks.

ING Vysya ICICI Bank HDFC Bank Axis Bank

Bank

8) What is your most frequent point of interaction with the bank?

• Visit Branch

• ATM

• Phone Banking

• Drop Box

• Internet Banking

• Mobile Banking

9) Please rate the following banks on the basis of your perception about
the given attributes out of 4, where 1 is the least/disappointing and 4
is the most/excellent

S.NO ATTRIBUTES ING ICICI HDFC Axis

Vysy Bank Bank Bank

Page | 64
 a
Bank

1. Bank charges

2. Customer care

Variety of saving bank

3. account

4. Behavior of the staff

5. Working Hours

6. Location

7. Personalized attention

8. Processing Speed

Grievance/queries
9. handling

Page | 65
 10) Please rate the following variables which influence you when it
comes to open an account on the scale of 1 to 5 where 1 is strongly
disagree and 5 is strongly agree.

SL SRONGLY DISAGREE……… STRONGLY

NO STATEMENTS …………………… AGREE
1 2 3 4 5

I will prefer, if my friend recommends me

1 to open an account in a particular bank.

I am very cautious about Average

Quarterly Balance non-maintenance
2 charge.

I am generally motivated by the

3 television add for saving bank account.

I m generally bothered about the

distance between my home and the
4 Bank.

I prefer saving bank account as it is

5 popular.

I give importance to DD and cheque

6 facility in saving bank account.

I give preference to instant alert, net-

banking, phone banking, and mobile
7 banking.

I give importance to the third party cash

8 deposits and withdrawal.

Any other suggestions regarding the bank please mention:-

…………………………………………………………………………………………………………
…………………………………………………………………………………………………………
…………………………………………………………………………….

Page | 66
 Tthank you for your cooperation for devoting your valuable time and sharing the
valuable information with us which will help us to complete our project
successfully.

Place…………………
Date……………………..

Sig
nature of the respondent

Page | 67