Jagriti CUSTOMER ATTITUDE TOWARDS HDFC CREDIT CARDS

Summer Training Project Report
On
CUSTOMER ATTITUDE TOWARDS CREDIT CARDS IN HDFC BANK
Submitted in the partial fulfilment of the requirements
For the Degree of
MASTER OF BUSINESS ADMINISTRATION
Submitted to
Department of Management Studies
SUBMITTED BY:
JAGRITI JAYASWAL
Roll No-1709170017
JSS ACADEMY OF TECHNICAL EDUCATION
NOIDA – 201301.UTTAR PRADESH
(Dr. A.P.J. Abdul Kalam Technical University, Lucknow)
(2017-2019)
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JSS ACADEMY OF TECHNICAL EDUCATION,NOIDA
DEPARTMENT OF MANAGEMENT STUDIES
CERTIFICATE
This is to certify that JAGRITI JAYASWAL student of MBA , JSSATE, NOIDA , has
successfully completed her summer training during the period of 11th June 2018 to 25th july
2018. As the partial fulfilment of the requirement for the award of masters of business
administration (MBA) by Dr. A.P.J Abdul Kalam Technical University batch (2017-2019)
…………………………………………….
Prof. (Dr.) Yogendra Singh

(H.O.D – Department of Management Studies)
JSSATE, Noida
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PLAGIARISM DECLARATION CERTIFICATE
I hereby declare that the dissertation entitled “Customer Attitude Towards HDFC Credit
Card” being submitted by me in partial fulfilment of the requirement for the award of the
degree of MBA in Marketing to JSSATE ,Noida, is my own work, all sources have been
properly acknowledged and report contains no plagiarism. The result embodied in this
dissertation has not been submitted to any other university or institute for the award of any
degree or diploma.
Signature: _____________________
Date: ______________________
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ACKNOWLEDGEMENT
I wish to express my sincere gratitude to Mr. Nipun Parashar (Branch Manager) for
providing me an opportunity to do my internship in “HDFC BANK”. I wish to express my
gratitude to the official and other staff members of HDFC BANK, who rendered their help
during the period of internship.
I am highly thankful to Mr. Nipun Parashar for his continuous support throughout the
training.
JAGRITI JAYASWAL
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Table Of Content
S no. Topics Page no.
1 Industry profile 6 - 19
2 Company profile 20 - 32
3 Objectives of the study 33
4 Research methodology 34 - 36
5 Data source used 37 - 60
6 Analysis 61 - 91
7 Findings 92 - 94
8 Suggestions 95
9 Limitations 96
10 Conclusion 97 - 98
11 Bibliography 99
12 100 - 103
Annexures
INDUSTRY PROFILE
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The banking industry in India has a huge canvas of history, which covers the traditional
banking practices from the time of Britishers to the reforms period, nationalization to
privatization of banks and now increasing numbers of foreign banks in India. Therefore,
Banking in India has been through a long journey. Banking industry in India has also
achieved a new height with the changing times. The use of technology has brought a
revolution in the working style of the banks. Nevertheless, the fundamental aspects of
banking i.e. trust and the confidence of the people on the institution remain the same. The
majority of the banks are still successful in keeping with the confidence of the shareholders
as well as other stakeholders. However, with the changing dynamics of banking business
brings new kind of risk exposure. In this paper an attempt has been made to identify the
general sentiments, challenges and opportunities for the Indian Banking Industry. This article
is divided in three parts. First part includes the introduction and general scenario of Indian
banking industry. The second part discusses the various challenges and opportunities faced
by Indian banking industry.
Indian banking system consists of 27 public sector banks, 21 private sector banks, 49 foreign
banks, 56 regional rural banks, 1,562 urban cooperative banks and 94,384 rural cooperative
banks, in addition to cooperative credit institutions.
As of Q1 FY19, total credit extended by commercial banks surged to Rs 86,976.02 billion
(US$ 1,297.38 billion) and deposits grew to Rs 115,070.27 billion (US$ 1,716.44 billion).
Assets of public sector banks stood at US$ 1,557.04 billion in FY18.
Indian banks are increasingly focusing on adopting integrated approach to risk management.
Banks have already embraced the international banking supervision accord of Basel II, and
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majority of the banks already meet capital requirements of Basel III, which has a deadline of
March 31, 2019.
Reserve Bank of India (RBI) has decided to set up Public Credit Registry (PCR) an extensive
database of credit information which is accessible to all stakeholders. The Insolvency and
Bankruptcy Code (Amendment) Ordinance, 2017 Bill has been passed and is expected to
strengthen the banking sector.
Rising incomes are expected to enhance the need for banking services in rural areas and
therefore drive the growth of the sector. As of September 2018, Department of Financial
Services (DFS), Ministry of Finance and National Informatics Centre (NIC) launched Jan
Dhan Darshak as a part of financial inclusion initiative. It is a mobile app to help people
locate financial services in India.
The digital payments revolution will trigger massive changes in the way credit is disbursed in
India. Debit cards have radically replaced credit cards as the preferred payment mode in
India, after demonetization. Debit cards garnered a share of 88.86 per cent of the total card
spending. The banking industry in India has a huge canvas of history, which covers the
traditional banking practices from the time of Britishers to the reforms period, nationalization
to privatization of banks and now increasing numbers of foreign banks in India.
Therefore, Banking in India has been through a long journey. Banking industry in India
has also achieved a new height with the changing times. The use of technology has
brought a revolution in the working style of the banks.
Nevertheless, the fundamental aspects of banking i.e. trust and the confidence of the people
on the institution remain the same. The majority of the banks are still successful in keeping
with the confidence of the shareholders as well as other stakeholders. However, with the
changing dynamics of banking business brings new kind of risk exposure
37
revolution in the working style of the banks.
Nevertheless, the fundamental aspects of banking i.e. trust and the confidence of the people
on the institution remain the same. The majority of the banks are still successful in keeping
with the confidence of the shareholders as well as other stakeholders. However, with the
changing dynamics of banking business brings new kind of risk exposure
revolution in the working style of the banks.
INTRODUCTION
 In recent time, we has witnessed that the World Economy is passing through
some intricate
 circumstances as bankruptcy of banking & financial institutions, debt crisis in major
economies of
 The world and euro zone crisis. The scenario has become very uncertain causing
recession in
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 Major economies like US and Europe. This poses some serious questions about the
survival,
 Growth and maintaining the sustainable development.
In recent time, we has witnessed that the World Economy is passing through some intricate
circumstances as bankruptcy of banking & financial institutions, debt crisis in major
economies of the world and euro zone crisis. The scenario has become very uncertain
causing recession in major economies like US and Europe. This poses some serious questions
about the survival, growth and maintaining the sustainable development.
However, amidst all this turmoil India’s Banking Industry has been amongst the few to
maintain resilience. The tempo of development for the Indian banking industry has been
remarkable over the past decade. It is evident from the higher pace of credit expansion,
expanding profitability and productivity similar to banks in developed markets, lower
incidence of non- performing assets and focus on financial inclusion have contributed to
making Indian banking vibrant and strong. Indian banks have begun to revise their growth
approach and re-evaluate the prospects on hand to keep the economy rolling
 HISTORICAL BACKGROUND
Bank of Hindustan was set up in 1870; it was the earliest Indian Bank. Later, three
presidency banks under Presidency Bank's act 1876 i.e. Bank of Calcutta, Bank of Bombay
and Bank of Madras were set up, which laid foundation for modern banking in India. In
1921, all presidency banks were amalgamated to form the Imperial Bank of India. Imperial
bank carried out limited number of central banking functions prior to establishment of RBI. It
engaged in all types of commercial banking business except dealing in foreign exchange.
Reserve Bank of India Act was passed in 1934 & Reserve Bank of India (RBI) was
constituted as an apex body without major government ownership. Banking Regulations Act
37
was passed in 1949. This regulation brought RBI under government control. Under the act,
RBI got wide ranging powers for supervision & control of banks. The Act also vested
licensing powers & the authority to conduct inspections in RBI. In 1955, RBI acquired
control of the Imperial Bank of India, which was renamed as State Bank of India. In 1959,
SBI took over control of eight private banks floated in the erstwhile princely states, making
them as its 100% subsidiaries.
It was 1960, when RBI was empowered to force compulsory merger of weak banks with the
strong ones. It significantly reduced the total number of banks from 566 in 1951 to 85 in
1969. In July 1969, government nationalized 14 banks having deposits of Rs. 50 crores &
above. In 1980, government acquired 6 more banks with deposits of more than Rs.200 crores.
Nationalization of banks was to make them play the role of catalytic agents for economic
growth. The Narasimha Committee report suggested wide ranging reforms for the banking
sector in 1992 to introduce internationally accepted banking practices. The amendment of
Banking Regulation Act in 1993 saw the entry of new private sector banks. Banking industry
is the back bone for growth of any economy. The journey of Indian Banking Industry has
faced many waves of economic crisis. Recently, we have seen the economic crisis of US in
2008-09 and now the European crisis. The general scenario of the world economy is very
critical. It is the banking rules and regulation framework of India which has prevented it from
the world economic crisis.
 GENERAL BANKING SCENARIO IN INDIA
The general banking scenario in India has become very dynamic now-a-days. Before
preliberalization era, the picture of Indian Banking was completely different as the
Government of India initiated measures to play an active role in the economic life of the
nation, and the Industrial Policy Resolution adopted by the government in 1948 envisaged a
37
mixed economy. This resulted into greater involvement of the state in different segments of
the economy including banking and finance. The Reserve Bank of India was nationalized on
January 1, 1949 under the terms of the Reserve Bank of India (Transfer to Public Ownership)
Act, 1948. 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. By
the 1960s, the Indian banking industry had become an important tool to facilitate the speed of
development of the Indian economy. The Government of India issued an ordinance and
nationalized the 14 largest commercial banks with effect from the midnight of July 19, 1969.
A second dose of nationalization of 6 more commercial banks followed in 1980. The stated
reason for the nationalization was to give the government more control of credit delivery.
With the second dose of nationalization, the Government of India controlled around 91% of
the banking business of India. Later on, in the year 1993, the government merged New Bank
of India with Punjab National Bank. It was the only merger between nationalized banks and
resulted in the reduction of the number of nationalized banks from 20 to 19. After this, until
the 1990s, the nationalized banks grew at a pace of around 4%, closer to the average growth
rate of the Indian economy. In the early 1990s, the then Narasimha Rao government
embarked on a policy of liberalization, licensing a small number of private banks. The next
stage for the Indian banking has been set up 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 74% 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
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for traditional banks. All this led to the retail boom in India. People not just demanded more
from their banks but also received more.
 STRUCTURE OF INDIAN BANKING INDUSTRY
Banking Industry in India functions under the sunshade of Reserve Bank of India - the
regulatory, central bank. Banking Industry mainly consists of: • Commercial Banks • Co-
operative Banks. The commercial banking structure in India consists of: Scheduled
Commercial Banks Unscheduled Bank. Scheduled commercial Banks constitute those banks
which have been included in the Second Schedule of Reserve Bank of India (RBI) Act, 1934.
RBI in turn includes only those banks in this schedule which satisfy the criteria laid down
vide section 42 (60) of the Act. Some co-operative banks are scheduled commercial banks
although not all co-operative banks are. Being a part of the second schedule confers some
benefits to the bank in terms of access to accommodation by RBI during the times of
liquidity constraints. At the same time, however, this status also subjects the bank certain
conditions and obligation towards the reserve regulations of RBI. For the purpose of
assessment of performance of banks, the Reserve Bank of India categorize them as public
sector banks, old private sector banks, new private sector banks and foreign banks.
 CHALLENGES FACED BY INDIAN BANKING INDUSTRY
Developing countries like India, still has a huge number of people who do not have access to
banking services due to scattered and fragmented locations. But if we talk about those people
who are availing banking services, their expectations are raising as the level of services are
increasing due to the emergence of Information Technology and competition. Since, foreign
banks are playing in Indian market, the number of services offered has increased and banks
have laid emphasis on meeting the customer expectations. Now, the existing situation has
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created various challenges and opportunity for Indian Commercial Banks. In order to
encounter the general scenario of banking industry we need to understand the challenges and
opportunities lying with banking industry of India.
Rural Market
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. Consequently, we have seen some examples of inorganic growth strategy adopted by
some nationalized and private sector banks to face upcoming challenges in banking industry
of India. For example recently, ICICI Bank Ltd. merged the Bank of Rajasthan Ltd. in order
to increase its reach in rural market and market share significantly. State Bank of India (SBI),
the largest public sector bank in India has also adopted the same strategy to retain its
position. It is in the process of acquiring its associates. Recently, SBI has merged State Bank
of Indore in 2010.
Management of Risks
The growing competition increases the competitiveness among banks. But, existing global
banking scenario is seriously posing threats for Indian banking industry. We have already
witnessed the bankruptcy of some foreign banks. According to Shrieves (1992), there is a
positive association between changes in risk and capital. Research studied the large sample of
banks and results reveal that regulation was partially effective during the period covered.
Moreover, it was concluded that changes in bank capital over the period studied was risk-
based [1]. Wolgast, (2001) studied the Merger and acquisition activity among financial firms.
The author focused bank supervisors in context with success of mergers, risk management,
financial system stability and market liquidity. The study concluded that large institutions are
37
able to maintain a superior level of risk management [2]. Al-Tamimi and Al-Mazrooei (2007)
examined the risk management practices and techniques in dealing with different types of
risk. Moreover, they compared risk management practices between the two sets of banks.
The study found the three most important types of risk i.e. commercial banks foreign
exchange risk, followed by credit risk, and operating risk [3]. Sensarma and Jayadev (2009)
used selected accounting ratios as risk management variables and attempted to gauge the
overall risk management capability of banks. They used multivariate statistical techniques to
summarize these accounting ratios. Moreover, the paper also analyzed the impact of these
risk management scores on stock returns through regression analysis. Researchers found that
Indian banks' risk management capabilities have been improving over time. Returns on the
banks' stocks appeared to be sensitive to risk management capability of banks.
Growth of Banking
Zhao, Casu and Ferrari (2008) used a balanced panel data set covering the period of 1992-
2004 and employing a Data Envelopment Analysis (DEA)-based Malmquist Total Factor
Productivity (TFP) index. The empirical study indicated that, after an initial adjustment
phase, the Indian banking industry experienced sustained productivity growth, which was
driven mainly by technological progress. Banks' ownership structure does not seem to matter
as much as increased competition in TFP growth. Foreign banks appear to have acted as
technological innovators when competition increased, which added to the competitive
pressure in the banking market. Finally, our results also indicate an increase in risk-taking
behaviour, along with the whole deregulation process [5]. It was found in the study of Goyal
and Joshi (2011a) that small and local banks face difficulty in bearing the impact of global
economy therefore, they need support and it is one of the reasons for merger. Some private
banks used mergers as a strategic tool for expanding their horizons. There is huge potential in
rural markets of India, which is not yet explored by the major banks. Therefore ICICI Bank
37
Ltd. has used mergers as their expansion strategy in rural market. They are successful in
making their presence in rural India. It strengthens their network across geographical
boundary, improves customer base and market share [6].
Market Discipline and Transparency
According to Fernando (2011) transparency and disclosure norms as part of internationally
accepted corporate governance practices are assuming greater importance in the emerging
environment. Banks are expected to be more responsive and accountable to the investors.
Banks have to disclose in their balance sheets a plethora of information on the maturity
profiles of assets and liabilities, lending to sensitive sectors, movements in NPAs, capital,
provisions, shareholdings of the government, value of investment in India and abroad,
operating and profitability indicators, the total investments made in the equity share, units of
mutual funds, bonds, debentures, aggregate advances against shares and so on [7].
Human Resource Management
Gelade and Ivery (2003) examined relationships between human resource management
(HRM), work climate, and organizational performance in the branch network of a retail bank.
Significant correlations were found between work climate, human resource practices, and
business performance. The results showed that the correlations between climate and
performance cannot be explained by their common dependence on HRM factors, and that the
data are consistent with a mediation model in which the effects of HRM practices on
business performance are partially mediated by work climate [8]. Bartel (2004) studied the
relationship between human resource management and establishment performance of
employees on the manufacturing sector. Using a unique longitudinal dataset collected
through site visits to branch operations of a large bank, the author extends his research to the
service sector. Because branch managers had considerable discretion in managing their
operations and employees, the HRM environment could vary across branches. Site visits
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provided specific examples of managerial practices that affected branch performance. An
analysis of responses to the bank’s employee attitude survey that controls for unobserved
branch and manager characteristics shows a positive relationship between branch
performance and employees’ satisfaction with the quality of performance evaluation,
feedback, and recognition at the branch—the “incentives” dimension of a high-performance
work system. In some fixed effects specifications, satisfaction with the quality of
communications at the branch was also important [9].
Global Banking
It is practically and fundamentally impossible for any nation to exclude itself from world
economy. Therefore, for sustainable development, one has to adopt integration process in the
form of liberalization and globalization as India spread the red carpet for foreign firms in
1991. The impact of globalization becomes challenges for the domestic enterprises as they
are bound to compete with global players. If we look at the Indian Banking Industry, then we
find that there are 36 foreign banks operating in India, which becomes a major challenge for
Nationalized and private sector banks. These foreign banks are large in size, technically
advanced and having presence in global market, which gives more and better options and
services to Indian traders.
Financial Inclusion
Financial inclusion has become a necessity in today’s business environment. Whatever is
produced by business houses, that has to be under the check from various perspectives like
environmental concerns, corporate governance, social and ethical issues. Apart from it to
bridge the gap between rich and poor, the poor people of the country should be given proper
attention to improve their economic condition. Dev (2006) stated that financial inclusion is
significant from the point of view of living conditions of poor people, farmers, rural non-
farm enterprises and other vulnerable groups. Financial inclusion, in terms of access to credit
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from formal institutions to various social groups. Apart from formal banking institutions,
which should look at inclusion both as a business opportunity and social responsibility, the
author conclude that role of the self-help group movement and microfinance institutions is
important to improve financial inclusion. The study suggested that this requires new
regulatory procedures and de-politicization of the financial system [10].
Customer Retention
Levesque and McDougall (1996) investigated the major determinants of customer
satisfaction and future intentions in the retail bank sector. They identified the determinants
which include service quality dimensions (e.g. getting it right the first time), service features
(e.g. competitive interest rates), service problems, service recovery and products used. It was
found, in particular, that service problems and the bank’s service recovery ability have a
major impact on customer satisfaction and intentions to switch [14]. Clark (1997) studied the
impact of customer-employee relationships on customer retention rates in a major UK retail
bank. He revealed that employee and customer perceptions of service quality are related to
customer retention rates and that employee and customer perceptions of service quality are
related to each other [15]. Clark (2002) examined the relationship between employees’
perceptions of organizational climate and customer retention in a specific service setting, viz.
a major UK retail bank. Employees’ perceptions of the practices and procedures in relation to
customer care at their branch were investigated using a case study approach. The findings
revealed that there is a relationship between employees’ perceptions of organizational
climate and customer retention at a micro organizational level. He suggested that
organizational climate can be subdivided into five climate themes and that, within each
climate theme, there are several dimensions that are critical to customer retention [16].
Hansemark and Albinsson (2004) explored how the employees of a company experience the
concepts of customer satisfaction and retention. They used phenomenological method,
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allowing the informants’ own interpretations to be discovered. Satisfaction was discussed
from three perspectives: definition of the concept, how to recognize when a customer is
satisfied, and how to enhance satisfaction. The informants’ experience pertaining to these
three categories varied, and a total of seven ways to define, recognize or enhance satisfaction
were discovered. These were: service, feeling, chemistry, relationship and confidence,
dialogue, complaints and retention. All except the first two of these categories of experience
were found to enhance retention, implying that the informants have found that strategies for
enhancing both satisfaction and retention are similar [17]. The strongest connection between
retention and satisfaction strategies turned out to be in terms of relationship and confidence.
Environmental Concerns
It is quite clear from the recently formed Copenhagen Climate Council (CCC) that there is a
severe need for environmental awareness among all the countries of the world. CCC
published Thought Leadership Series on Climate Change which is a collection of
inspirational, concise and clearly argued pieces from some of the world's most renowned
thinkers and business leaders on climate change. The objective of the pieces is to assist in
enhancing the public and political awareness of the actions that could have a significant
impact on global emissions growth and to disseminate the message that it is time to act. The
Thought Leadership Series was aimed at explaining and spreading awareness of the key
elements in the business and policy response to the climate problem. The rationale for the
Thought Leadership Series was to change the focus of people.
Social and Ethical Aspects
There are some banks, which proactively undertake the responsibility to bear the social and
ethical aspects of banking. This is a challenge for commercial banks to consider the these
aspects in their working. Apart from profit maximization, commercial banks are supposed to
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support those organizations, which have some social concerns. Benedikter (2011) defines
Social Banks as “banks with a conscience”. They focus on investing in community,
providing opportunities to the disadvantaged, and supporting social, environmental, and
ethical agendas. Social banks try to invest their money only in endeavors that promote the
greater good of society, instead of those, which generate private profit just for a few. He has
also explained the main difference between mainstream banks and social banks that
mainstream banks are in most cases focused solely on the principle of profit maximization
whereas, social banking implements the triple principle of profit-people-planet [18]. Goyal
and Joshi (2011b) have concluded in their study on social and ethical aspects of Banking
Industry that Banks can project themselves as a socially and ethically oriented organization
by disbursement of loans merely to those organizations, which has social, ethical and
environmental concerns [19].
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COMPANY PROFILE
HDFC Bank Limited (the Bank) is a holding company. The bank offers a range of banking
services covering commercial and investment banking on the wholesale side and
transactional/branch banking on the retail side. It also offers financial services. The bank's
segments include treasury, retail banking, wholesale banking and other banking business.
The treasury segment primarily consists of net interest earnings from the Bank's investment
portfolio, money market borrowing and lending, gains or losses on investment operations and
on account of trading in foreign exchange and derivative contracts. The retail banking
segment serves retail customers through a branch network and other delivery channels, as
well as through alternative delivery channels. The bank provides its corporate and
institutional clients a range of commercial and transactional banking products. The other
banking business segment includes income from para banking activities.
The Housing Development Finance Corporation Limited (HDFC) was amongst the first to
receive an 'in principle' approval from the Reserve Bank of India (RBI) to set up a bank in
the private sector, as part of the RBI's liberalization of the Indian Banking Industry in 1994.
The bank was incorporated in August 1994 in the name of 'HDFC Bank Limited', with its
registered office in Mumbai, India. HDFC Bank commenced operations as a Scheduled
Commercial Bank in January 1995.
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HDFC is India's premier housing finance company and enjoys an impeccable track record in
India as well as in international markets. Since its inception in 1977, the Corporation has
maintained a consistent and healthy growth in its operations to remain the market leader in
mortgages. Its outstanding loan portfolio covers well over a million dwelling units. HDFC
has developed significant expertise in retail mortgage loans to different market segments and
also has a large corporate client base for its housing related credit facilities. With its
experience in the financial markets, a strong market reputation, large shareholder base and
unique consumer franchise, HDFC was ideally positioned to promote a bank in the Indian
environment.
HDFC Bank's mission is to be a World-Class Indian Bank. The objective is to build sound
customer franchises across distinct businesses so as to be the preferred provider of banking
services for target retail and wholesale customer segments, and to achieve healthy growth in
profitability, consistent with the bank's risk appetite. The bank is committed to maintain the
highest level of ethical standards, professional integrity, corporate governance and regulatory
compliance. HDFC Bank's business philosophy is based on four core values - Operational
Excellence, Customer Focus, Product Leadership and People.
As on 30th June, 2010 the authorized share capital of the Bank is Rs. 550 crore. The paid-up
capital as on said date is Rs. 459,69,07,030/- (45,96,90,703 equity shares of Rs. 10/- each).
The HDFC Group holds 23.63 % of the Bank's equity and about 17.05 % of the equity is held
by the ADS Depository (in respect of the bank's American Depository Shares (ADS) Issue).
27.45% of the equity is held by Foreign Institutional Investors (FIIs) and the Bank has about
4,33,078 shareholders.
37
The shares are listed on the Bombay Stock Exchange Limited and the National Stock
Exchange of India Limited. The Bank's American Depository Shares (ADS) are listed on the
New York Stock Exchange (NYSE) under the symbol 'HDB' and the Bank's Global
Depository Receipts (GDRs) are listed on Luxembourg Stock Exchange under ISIN No
US40415F2002.
On May 23, 2008, the amalgamation of Centurion Bank of Punjab with HDFC Bank was
formally approved by Reserve Bank of India to complete the statutory and regulatory
approval process. As per the scheme of amalgamation, shareholders of CBoP received 1
share of HDFC Bank for every 29 shares of CBoP.
The merged entity will have a strong deposit base of around Rs. 1,22,000 crore and net
advances of around Rs. 89,000 crore. The balance sheet size of the combined entity would be
over Rs. 1,63,000 crore. The amalgamation added significant value to HDFC Bank in terms
of increased branch network, geographic reach, and customer base, and a bigger pool of
skilled manpower.
In a milestone transaction in the Indian banking industry, Times Bank Limited (another new
private sector bank promoted by Bennett, Coleman & Co. / Times Group) was merged with
HDFC Bank Ltd., effective February 26, 2000. This was the first merger of two private banks
in the New Generation Private Sector Banks. As per the scheme of amalgamation approved
by the shareholders of both banks and the Reserve Bank of India, shareholders of Times
Bank received 1 share of HDFC Bank for every 5.75 shares of Times Bank.
HDFC Bank is headquartered in Mumbai. The Bank at present has an enviable network of
1,725 branches spread in 780 cities across India. All branches are linked on an online real-
time basis. Customers in over 500 locations are also serviced through Telephone Banking.
37
The Bank's expansion plans take into account the need to have a presence in all major
industrial and commercial centres where its corporate customers are located as well as the
need to build a strong retail customer base for both deposits and loan products. Being a
clearing/settlement bank to various leading stock exchanges, the Bank has branches in the
centres where the NSE/BSE have a strong and active member base.
The Bank also has 4,393 networked ATMs across these cities. Moreover, HDFC Bank's
ATM network can be accessed by all domestic and international Visa/MasterCard, Visa
Electron/Maestro, Plus/Cirrus and American Express Credit/Charge cardholders.
Mr. C.M. Vasudev has been appointed as the Chairman of the Bank with effect from 6th July
2010 subject to the approval of the Reserve Bank of India and the shareholders. Mr. Vasudev
has been a Director of the Bank since October 2006. A retired IAS officer, Mr. Vasudev has
had an illustrious career in the civil services and has held several key positions in India and
overseas, including Finance Secretary, Government of India, Executive Director, World
Bank and Government nominee on the Boards of many companies in the financial sector.
The Managing Director, Mr. Aditya Puri, has been a professional banker for over 25 years,
and before joining HDFC Bank in 1994 was heading Citibank's operations in Malaysia.
The Bank's Board of Directors is composed of eminent individuals with a wealth of
experience in public policy, administration, industry and commercial banking. Senior
executives representing HDFC are also on the Board.
Senior banking professionals with substantial experience in India and abroad head various
businesses and functions and report to the Managing Director. Given the professional
37
expertise of the management team and the overall focus on recruiting and retaining the best
talent in the industry, the bank believes that its people are a significant competitive strength.
HDFC Bank operates in a highly automated environment in terms of information technology
and communication systems. All the bank's branches have online connectivity, which enables
the bank to offer speedy funds transfer facilities to its customers. Multi-branch access is also
provided to retail customers through the branch network and Automated Teller Machines
(ATMs).
The Bank has made substantial efforts and investments in acquiring the best technology
available internationally, to build the infrastructure for a world class bank. The Bank's
business is supported by scalable and robust systems which ensure that our clients always get
the finest services we offer.
The Bank has prioritised its engagement in technology and the internet as one of its key goals
and has already made significant progress in web-enabling its core businesses. In each of its
businesses, the Bank has succeeded in leveraging its market position, expertise and
technology to create a competitive advantage and build market share.
HDFC Bank offers a wide range of commercial and transactional banking services and
treasury products to wholesale and retail customers. The bank has three key business
segments:
Wholesale Banking Services
The Bank's target market ranges from large, blue-chip manufacturing companies in the
Indian corporate to small & mid-sized corporates and agri-based businesses. For these
customers, the Bank provides a wide range of commercial and transactional banking services,
37
including working capital finance, trade services, transactional services, cash management,
etc. The bank is also a leading provider of structured solutions, which combine cash
management services with vendor and distributor finance for facilitating superior supply
chain management for its corporate customers. Based on its superior product delivery /
service levels and strong customer orientation, the Bank has made significant inroads into the
banking consortia of a number of leading Indian corporates including multinationals,
companies from the domestic business houses and prime public sector companies. It is
recognized as a leading provider of cash management and transactional banking solutions to
corporate customers, mutual funds, stock exchange members and banks.
Retail Banking Services
The objective of the Retail Bank is to provide its target market customers a full range of
financial products and banking services, giving the customer a one-stop window for all
his/her banking requirements. The products are backed by world-class service and delivered
to customers through the growing branch network, as well as through alternative delivery
channels like ATMs, Phone Banking, Net Banking and Mobile Banking.
The HDFC Bank Preferred program for high net worth individuals, the HDFC Bank Plus and
the Investment Advisory Services programs have been designed keeping in mind needs of
customers who seek distinct financial solutions, information and advice on various
investment avenues. The Bank also has a wide array of retail loan products including Auto
Loans, Loans against marketable securities, Personal Loans and Loans for Two-wheelers. It
is also a leading provider of Depository Participant (DP) services for retail customers,
providing customers the facility to hold their investments in electronic form.
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HDFC Bank was the first bank in India to launch an International Debit Card in association
with VISA (VISA Electron) and issues the MasterCard Maestro debit card as well. The Bank
launched its credit card business in late 2001. By March 2010, the bank had a total card base
(debit and credit cards) of over 14 million. The Bank is also one of the leading players in the
“merchant acquiring” business with over 90,000 Point-of-sale (POS) terminals for debit /
credit cards acceptance at merchant establishments. The Bank is well positioned as a leader
in various net based B2C opportunities including a wide range of internet banking services
for Fixed Deposits, Loans, Bill Payments, etc.
Treasury
Within this business, the bank has three main product areas - Foreign Exchange and
Derivatives, Local Currency Money Market & Debt Securities, and Equities. With the
liberalization of the financial markets in India, corporates need more sophisticated risk
management information, advice and product structures. These and fine pricing on various
treasury products are provided through the bank's Treasury team. To comply with statutory
reserve requirements, the bank is required to hold 25% of its deposits in government
securities. The Treasury business is responsible for managing the returns and market risk on
this investment portfolio.
Credit Rating
The Bank has its deposit programs rated by two rating agencies - Credit Analysis & Research
Limited (CARE) and Fitch Ratings India Private Limited. The Bank's Fixed Deposit
programme has been rated 'CARE AAA (FD)' [Triple A] by CARE, which represents
instruments considered to be "of the best quality, carrying negligible investment risk". CARE
has also rated the bank's Certificate of Deposit (CD) programme "PR 1+" which represents
37
"superior capacity for repayment of short term promissory obligations". Fitch Ratings India
Pvt. Ltd. (100% subsidiary of Fitch Inc.) has assigned the "AAA ( ind )" rating to the Bank's
deposit programme, with the outlook on the rating as "stable". This rating indicates "highest
credit quality" where "protection factors are very high"
The Bank also has its long term unsecured, subordinated (Tier II) Bonds rated by CARE and
Fitch Ratings India Private Limited and its Tier I perpetual Bonds and Upper Tier II Bonds
rated by CARE and CRISIL Ltd. CARE has assigned the rating of "CARE AAA" for the
subordinated Tier II Bonds while Fitch Ratings India Pvt. Ltd. has assigned the rating "AAA
(ind)" with the outlook on the rating as "stable". CARE has also assigned "CARE AAA
[Triple A]" for the Banks Perpetual bond and Upper Tier II bond issues. CRISIL has
assigned the rating "AAA / Stable" for the Bank's Perpetual Debt programme and Upper Tier
II Bond issue. In each of the cases referred to above, the ratings awarded were the highest
assigned by the rating agency for those instruments.
Corporate Governance Rating
The bank was one of the first four companies, which subjected itself to a Corporate
Governance and Value Creation (GVC) rating by the rating agency, The Credit Rating
Information Services of India Limited (CRISIL). The rating provides an independent
assessment of an entity's current performance and an expectation on its "balanced value
creation and corporate governance practices" in future. The bank has been assigned a
'CRISIL GVC Level 1' rating which indicates that the bank's capability with respect to wealth
creation for all its stakeholders while adopting sound corporate governance practices is the
highest.
Achievements
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HDFC Bank began operations in 1995 with a simple mission: to be a "World-class Indian
Bank". We realised that only a single-minded focus on product quality and service excellence
would help us get there. Today, we are proud to say that we are well on our way towards that
goal.
It is extremely gratifying that our efforts towards providing customer convenience have been
appreciated both nationally and internationally.
 2018
Aadhaar Excellence Awards 2018 • Best Performing Private Bank in Total
Aadhaar Generation & Update
• Best Performing Private Bank in Total
Aadhaar Generation & Update - In House
Model
• Best Performing Branch of HDFC Bank
in Total Aadhaar Generation & Update
for Kidwai Nagar Branch, Kanpur, Uttar
Pradesh.
NASSCOM AI Game Changer Awards Innovative Application in AI - Virtual
2018 Agent Engine

HDFC Bank featured for the fourth time
BrandZ's Top 100 Global Brands List
in the Brand’s Top 100 Global Brands
List
14th Visa Asia Pacific Security Summit India and South Asia Champion Security
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Award 2018
National Payments Excellence Awards HDFC Bank wins NPCI National
2018 Payments Excellence Awards
Dun & Bradstreet Corporate Award 2018 Best Bank
Federation of Indian Export Organisation

Best Bank : Export Finance - Non
(FIEO)
MSME
Bank of the Year
Business Today Best Bank Awards
Best in Innovation
Best Large Bank
Fastest Growing Large Bank
Dun & Bradstreet BFSI Awards 2018 India's Leading Bank - Private sector
- Fastest Growing Large Bank
10th BW Businessworld-PwC Best
- Best Large Bank
Banks' (2017) Survey
- Lifetime Achievement Award - Mr.
Aditya Puri
 2017
Business India 19th Best Bank survey Best Bank for the year 2017 - HDFC Bank
The Asset Triple A Country Awards Best IPO, India
2017
Fortune HDFC Bank MD Aditya Puri on Fortune
Businessperson of the year list

Forbes Asia's 13th Fab 50 Companies
HDFC Bank in Forbes Asia's Top 50 List
List
Forbes' List of 5 Companies That Have
37
Shaped Asia, And The World HDFC Bank in Top 5 companies that have
shaped Asia, and the World

1) Best Bank - Use of Technology for Fraud
IDRBT Banking Technology Excellence
Prevention (Large Banks)
Awards 2016-17
2) Best Bank - Cyber Security and Defense
(LargeBanks)
3) Best Bank - Innovative Use of
Technology (Large Banks)
BrandZ Top 50 Most Valuable Indian Ranked India's Most Valuable Brand for 4th
Brands year in a row
CNBC TV 18 Financial Advisor Awards Best Performing Bank - Private Sector
2016-17
Asiamoney India Banking Awards 2017 Best Domestic Bank - India
 2016
Institutional Investor All-Asia Executive Mr. Aditya Puri ranked Best CEO
Team ranking 2016 -HDFC Bank ranked Best Company in
Banks sector of Asia ex-Japan

BrandZ Top 50 Most Valuable Indian HDFC Bank has been ranked India's
Brands most valuable brand for the 3rd
consecutive year
CNBC-TV18 India Business Leader Outstanding Business Leader of the year
Awards (IBLA) 2015-16

The Financial Express India's Best Banks Lifetime Achievement Award to Mr.
Awards Aditya Puri
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IDRBT Banking Technology Excellence Best Bank in Banking Technology
Awards 2016 Excellence for the year 2015-16

Cisco-CNBC TV 18 Digitizing India Award for Innovations in the Financial
Awards Industry & Digital Banking

Business Today Best Companies to Work for in India
IBA Awards HDFC Bank wins prestigious IBA
Banking Technology Awards

Barron's World's Top 30 CEOs Mr. Aditya Puri in Barron's Top 30
Global CEOs for 2nd year

NABARD Award Best Bank in JLG-Bank Linkage
programme in Assam
Business Today - KPMG India's Best HDFC Bank wins Bank of the year and
Bank Best Digital Banking Initiative awards

Outlook Money Awards 2015 - Best Bank of the year : Runner up
- Winner : Institutional Financial
Distributor of the year

NABARD Award - The Best Bank in HDFC Bank wins NABARD Award
SHG Credit Linkage in Tamil Nadu
 2015
National Payments Excellence Awards 2015 HDFC Bank wins NPCI National Payments
Excellence Awards
Business Today KPMG India's Best Banks 2015 Awards
Kerala's State Forum of Bankers' Club Award

Best Bank Branch
FinanceAsia Awards Best Equity Deal in Asia Award
IDC Insights Award 2015

Excellence in Customer Experience
37
QualTech Award
HDFC Bank wins Award at 27th QIMPRO
Convention
Lean Sigma project competition Best Case Study Award
IDRBT Banking Technology Excellence Awards Best Bank Award for Cyber Security Risk
2014-15 Management among Large Banks

-BestAsianBank
Finance Asia Country Awards 2015
- Best Domestic Bank - India

Forbes Asia
Fab 50 Companies List for the 9th year
-Business Leader of the Year - Aditya Puri
AIMA Managing India Awards 2015
Research Objectives
 To know people’s attitude towards the product.
 To evaluate the features and facilities offered by the credit card providing bank
HDFC in India.
 To find out the future scope in Indian credit card market.
 Researches can be conducted to find out the percentage of people using a certain
product or facility (credit card).
 To know the types of consumers and their demographic characteristics for a particular
product.
 Their preferences, likes and dislikes which lead to the further modernization of the
sales strategies by the marketer.
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 To find out the number of persons using the product, or how frequently they use the
product etc.
 To understand the relationship between consumer behavior and the marketing
concept, the societal marketing concept, as well as segmentation, targeting and
positioning.
 To understand how marketers are increasingly able to reach consumers wherever
consumers wish to be reached.
 To understand the relationship between consumer behavior and customer value,
satisfaction, trust and retention.
 To understand how new technologies are enabling marketers to better satisfy the
needs and wants of the consumers.
 To know the awareness of the product.
 To know the customer service satisfaction from the respondents.
RESEARCH METHODOLOGY
Nature of the Study:
It is a descriptive study in nature.
(A descriptive study is that in which the objectives are clearly defined/established.)
Basic research design
It is a descriptive study in nature as the objectives are clearly defined and I have to conduct
the study to gather the primary data so as to get the appropriate results.
Secondary research design
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In the descriptive study also I have chosen the casual relationship under which the cause and
effect relationship is studied to know how change in one variable affect the other variable.
Universe of the study:-
Geography covered: Delhi (East Delhi)
I have conducted the study at Delhi (East Delhi) as it is an important industrial hub in this
area having a lot of businessmen, government servants having high posts, a large number of
other professionals and high profile students necessary to conduct the study.
Sampling:-
Sample size: 100 people
I have limited my study only up to 100 people as it is not possible to cover all the people
using credit card of different categories.
The time constraint is also a hurdle for conducting survey with a large population.
Sampling Design: -
Stratified random Sampling:-
The sampling design I have chosen is stratified random sampling as it is not possible to
conduct the study using random sampling method to get appropriate results.
(Stratified sampling is that sampling under which the whole population is divided into
homogenous groups so as to collect the data in an effective manner and can get appropriate
results related to the problem statement.)
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Technique:
I have used Interview technique for conducting the study and to collect the primary data
from the respondents with the help of a questionnaire.
(In the interview technique the respondents are asked open or close ended question related to
the problem.)
Questionnaire design
A structured questionnaire is used to collect the primary data directly friom the respondents.
In the questionnaire both open and close ended questions are used to collect the data.
(Open ended questions are those in which the respondents have to answer only from the
options selected by the researcher and have no choice other than that.
Close ended questions are those in which the respondents can answer the researcher’s
questions with their own options.)
Sources of data:-
I have collected the data from the following sources-
1. Primary sources-respondents
2. Secondary sources-print or electronic media
Data collection tools:-
Primary data
Primary data is collected with the help of survey method using interview technique.
Secondary data
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Secondary data is collected from-
a) Print media like books magazines and news-papers
b) Electronic media like websites of HDFC bank, articles
On net and other social networking sites, Television, etc.
Data analysis tools:
To interpret the collected data I have used the following data analysis techniques:-
1. Coding
2. Data entry
DATA SOURCES USED
I started my work with the hypothesis that HDFC bank’s credit cards are in more demand
than any other bank’s credit cards in Delhi.
With the full study of credit card scheme I came to a conclusion that HDFC Bank is more in
demand because of some its special features in comparison to other Banks.
The special features are:
1. Fast approval with minimum documentation.
2. The credit card will be possessed & activated within 48 hours after completing
documentation.
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3. It has attractive credit card utilization.
HDFC Bank operates in a highly automated environment in terms of information technology
and communication system.
About Credit Cards
A credit card is basically a service provided by banks to customers who may or may not be
having accounts with them. As the name suggests, they are meant to give credit to the user. With
a credit card, users can shop for commodities, consumer goods, fuel, automobiles, and practically
everything under the sun, at stores where credit cards are accepted, without paying any interest.
One can also avail cash on credit for an interest rate from his credit card via the bank’s ATM.
The affiliations for credit cards are with two international bodies, VISA and Master Card, which
are basically economic joint ventures of more than 20,000 financial institutions each, with the
former having a better acceptability in our country. Credit cards trace their history way back to
1914, and have become a necessity for millions across the world.
The most essential term one should be familiar with is a billing cycle. This refers to the time
span when you can purchase goods on credit, and pay later. As a standard, the billing cycle of
credit cards in India is of 45 days. This means that if my billing cycle starts at 1st March, I can
purchase a T-Shirt on that date and pay for it 45 days later, i.e., 14th April. However, the
purchase period, i.e., the period in which you can actually purchase is of 30 days. Hence, I would
be billed for my purchases until 30th March and start off on a fresh purchase period starting the
next day, for which I would be billed in the next cycle.
Another term to be familiar with is the grace period. Usually, banks offer a grace period after
you bill is due, before charging the interest, which is actually an advantage in case of
emergencies. One should always go for the card offering the longest grace period.
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The credit limit signifies the amount of credit you can avail in one billing cycle. Banks generally
have different categories of credit cards to indicate the same. The ranking goes like this; Silver
(standard, lowest credit), Gold (higher credit), Platinum (highest credit). Banks usually assign
these categories based on one's paying capabilities according to their parameters.
There are often many additional charges such as membership fees, annual fees, renewal fees, etc.
One should always check for these while making a choice between different options, since these
charges, though trivial at first, sum up to a huge amount over the due course of time.
The interest rate (APR) that would be charged by banks is also very important. Generally,
companies charge between 2-3% per month. One should always go for the card having the
minimum APR.
Advantages
 First of all, they rule out the necessity of carrying extra cash, as they are accepted
almost everywhere now, which in turn results in instant cash or credit in case of an
urgent requirement.
 Credit cards give a grace period for payment, which means that even if one does not
have cash even in his bank account, he can make purchases and pay for them later.
 Credit cards are handy, and can be carried anywhere with ease. While this might not
be a significant advantage in words, it is extremely beneficial in practical usage.
Disadvantages
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 Credit cards frequently lead to spontaneous buying decisions, which are often
unaffordable. Since the user rarely keeps a check on how much has been spent prior
to every transaction, credit bills are often more than expected.
 Credit cards, if used to avail cash, come at an enormous interest rate of 35-40%.
 There are security issues also; Credit cards, if stolen, could be used to do fraudulent
purchases, and billed to the owners’ account, if proper action is not take on time.
A few points to be taken care of while handling credit cards
 Never reveal your credit card number to anybody. While shopping online, ensure that
the source is credible and your account details would not be leaked.
 Sign your credit card as soon as it arrives. This would minimize its use to some extent
in case of theft.
 Verify the purchases with your credit card when the bill arrives. Always keep a
record of all your transactions. The most effective way would be to store your copy of
the transaction slip.
 If the credit card is damaged or has expired, be sure to dispose it properly, after
cutting it in two or more pieces with a pair of scissors
 If your credit card is lost or stolen, inform the police as well as the credit card
company.
In context of the Indian market, the leading credit card service providers are ICICI, HDFC,
HSBC and Standard Chartered to name a few. These financial institutions have tried their
hands on ensuring value-addition while offering customer-friendly credit card deals. The
Best credit cards in India are usually meant for specific user group such as women, students
and small business owners. These cards are offered to the prospective customers with
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appealing deals. Statistics have clearly revealed that the number of credit card holders in
India is close to 22 million as on January, 2007. It has been also revealed that the increasing
consumerism in the country has led to a two-fold increase in the number of credit card
transactions from FY 2003-04 to 2005-06. The trends were as favorable as ever in the
financial years, FY 2006-07 and 2007-08 and the same is likely to continue in the coming
financial years.
How does a credit card actually work? Suppose you go shopping for clothes. You decide to
pay through your credit card instead of using cash. This is what happens:
 You hand over your credit card to the merchant.
 The merchant runs it through his card swiping machine.
 The machine reads the data on the card and transmits the same to the acquiring bank,
which has provided the machine to the merchant.
 The acquiring bank then transmits the data to the card association which in turn
passes it to the issuing bank.
 The issuing bank on receiving the data checks whether the card is eligible for the
requested amount of credit and sends the information back through the same route.
All this happens in a matter of seconds.
 Once your bank has verified that you are eligible for the amount of credit requested,
you are free to walk away with your newly-bought clothes.
The merchant is paid the money by his bank which in turn collects the same from your bank.
Both your bank and the merchant’s bank make a small commission on the transaction which
results in the merchant getting paid a lesser amount than what he billed you. And you end up
with free credit which is actually financed.
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SOME QUESTIONS ABOUT CREDIT CARDS
Q1. What is a credit card?
Ans. Credit Card allows you to purchase a product or service on credit with charges
applicable in the form of interest rate.
Q2. Is the interest rate applicable right from the day of purchase?
Ans. Usually, first 30 to 50 days calculated from the day of billing/purchase are interest-free.
Thereafter, interest rate will be levied by the bank on the balance outstanding.
Q3. What is the benefit of using a credit card?
Ans. With the help of credit cards, you can purchase goods and services without needing
hard cash. Interest is charged by the banks for any outstanding balance only after a specific
period of time.
Q4. What is a debit card?
Ans. Debit card is just like an ATM card, allowing you to purchase only if there is a balance
in your account. Whenever you make any transaction with Debit Card, your bank balance is
instantly reduced.
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Q5. For how long a credit card remains valid?
Ans. Once issued, a credit card remains valid for one to five years, depending upon the
policy of the issuing bank.
Q6. What is the process of getting a credit card?
Ans. First, select a credit card company you want to get associated with. Fill the application
form and provide all the requisite documents. After processing your credit card application
and verifying your particulars, you would be assigned a credit limit. Usually, it takes 3 weeks
to receive your credit card.
Q7. What is a Global card and how it benefits the user?
Ans. Global credit cards are useful for frequent overseas travelers. You can use these cards
abroad to pay for the transactions done there.
Q8. What is co-branded card? How it helps the user?
Ans. When a card is sold by the bank in partnership with some commercial partner, it is a co-
branded card. Consumers derive many benefits out of this partnership as they get lots of free
offers, prizes, discounts, etc., on the co-branded products.
Q9. How much interest rate is charged by the card providers?
Ans. Credit card providers charge 2 to 3% per month on the balance outstanding. It is always
advisable to pay off entire debts before the due date. Keeping your credit card bills pending
for long may harm your financial interests.
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Q10. What are the different types of credit cards?
Ans. Banks issue credit cards with varying features and facilities. Some banks categorize
their card range as Gold, Silver or Executive. The difference lies in the level of facilities
attached with each category. For example, Gold Card – a premium segment credit card will
offer better features and more privileges to the users than Silver Card.
Q11. What are the eligibility requirements to get a credit card?
Ans. Different banks set up their own 'minimum income' requirements for credit card
applicants. The income requirement differs with the credit card chosen, ranging from Rs.60,
000 to Rs.2 lakh per annum. A regular and steady income source is what the banks look for.
Besides, you should be at least 21 years of age but not more than 65 years.
Q12. What are the costs involved in owning a credit card?
Ans. There are two types of fees involved - Joining fees and Annual fees. Joining fees is a
one-time payment that varies between Rs.100 and Rs.1000. Annual fees is a recurring fee
that is charged every year for continuing the membership on the card.
With increased competition in the credit card market, these fees have registered a significant
drop in the recent times.
Q13. What happens if I fail to pay credit card bills in time?
Ans. It is advisable to pay at least minimum amount due every month because the late
payment fees are significantly higher in case of minimum payments – around 15 to 30% of
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the minimum amount due. After paying minimum dues, you can extend the credit for further
convenient time at lower rates.
Q14. Is it wise to use credit card when I have enough cash?
Ans. Well, it depends on what benefits you are looking for. With credit cards, you can delay
the payments up to 50 days. You can also enjoy discounts and special offers on payments
made through credit cards. Finally, you have to decide whether it is beneficial or not to shop
with credit card.
Q15. What is credit card number?
Ans. It is a 16-digit number that stores information about the card issuer, the country and the
Credit card owner.
HDFC Bank Credit Card
HDFC is one of the major credit card issuers in India and has more than 3.5 million cards out
of the nearly 28 million credit cards issued in the country, accounting for 15 to 20 per cent of
the market share.
HDFC Bank also offers a Visa Signature credit card to its high-end customers who have a
credit limit of Rs three lakh and upwards. Visa Signature has been positioned above all other
premium products offered in the market and would be offered only by invitation. HDFC
credit card members will get special offers on various HDFC bank products including auto
loans, loan against shares, demat and foreign exchange services, besides exclusive privileges
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from a wide array of global partners. The most popular HDFC credit cards include its Silver
Credit Card, Gold Card and its limited edition Titanium Credit Card. HDFC also offers
specialized cards like Health Plus Credit Card (special benefit card) and Woman Gold's Card
(premium card).
Types of HDFC credit cards
 HDFC Silver Credit Card
 HDFC Health Plus Credit Card
 HDFC Titanium Credit Card
 HDFC Platinum Plus Credit Card
 HDFC Bank Gold Business Credit Card
 HDFC Idea Silver Credit Card
 HDFC Bank Value Plus Credit Card
 HDFC Gold Credit Card
 HDFC Women's Gold Credit Card
 HDFC Corporate Card
 HDFC Bank World MasterCard Credit Card
 HDFC Visa Signature Credit Card
HDFC Silver Credit Card
Main Features
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The HDFC Bank Silver Credit Card can be used for all your requirements, be it shopping,
eating out, holidaying, and fuelling up your vehicle, railway ticket reservations - just about
any financial requirement, planned or on impulse
Earn while you spend
with us, money spent is money earned. For every Rs. 200 you spend, you earn 1 reward
point. You can redeem these accumulated points for exciting gifts and offers from our
exclusive rewards program.
Add on cards
Get up to 3 add-on cards for your spouse, parents, siblings (own brother/sister), son and/or
daughter (over 18 years) and allow them to enjoy the many benefits of the HDFC Bank
International Silver Credit Card
Zero liability on lost card
In case your credit card gets lost, report it immediately to our 24-hour call centre. After you
do this, you carry zero liability on any fraudulent transactions on your card.
Widely accepted
Accepted at over 110,000 merchant establishments across India and Nepal and close to 18
million merchant establishments around the world.
VALUE PLUS CREDIT CARD
Features & Benefits
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Value plus Cash back- Anytime Anywhere
Use your Value Plus Credit Card anywhere anytime during the year and avail up to 5% cash
back on retail spends.
Category Cash back *
Railway, Hospitals, Medical stores 5%
Grocery, Dept Stores, Supermarket, Restaurants 1.50%
*The cash back will be credited to your card account in subsequent statement subject to the
condition that the total amount due in the current statement is Rs 10000 or above. The change
is effective from 15th Jan 2009.
Worldwide acceptance
The HDFC Bank International Value plus Credit Card is accepted at over 23 million
Merchant Establishments around the world, including 110,000 Merchant Establishments in
India.
Cash Advance
Just step into any one of our ATMs or VISA Member ATMs and withdraw cash up to 10% of
your credit limit at a very nominal charge (Please refer to the Schedule of charges).
Revolving credit facility
This feature allows you to pay a minimum amount, which is 5% (subject to a minimum
amount of Rs.200) of your total bill amount or any higher amount whichever is convenient
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for you. You can then carry forward the balance to a better financial month, for which you
pay a charge of 3.25% per month.
Interest Free Credit Period
Your Card now gets an Interest Free Credit Period of up to 50 days from the date of purchase
(subject to the submission of the charge by the Merchant). Subsequently, if you carry forward
your outstanding balance you just pay a nominal interest of 3.25% per month.
Lost Card Liability
If you happen to lose your Card, don't panic. The first thing to do is Call us at any of our 24-
Hour Customer Call Centers and report the loss. Please make sure that you file a lost report
for the Lost/Stolen Card at the nearest police station and send us the acknowledgement copy.
GOLD CREDIT CARD
Features & Benefits
Up to 5% cash back on air/ rail ticketing
5% Cash back on domestic air ticket bookings through domestic airline websites or rail ticket
bookings through irctc.co.in if your statement balance for that month is above Rs 35000.
Note: You can earn up to Rs 1000 as cash back in a month. The applicable cash back will be
credited to your card account within 60 days from the billing date of these transactions.
Attractive Reward Points*
Earn 1 reward point per Rs 150 spent on the Gold Credit Card. The reward points for air and
rail transactions earning cash back will be reversed.
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Rewards points redemption
After earning all those reward points on your HDFC Bank Gold Credit Card, redeem them
for exciting gifts and services! You could even convert them to airline miles with India's
leading airlines through the My Rewards programme.
Accepted at over 23 million Merchant Establishments around the world, including 110,000
Merchant Establishments in India.
Pay a minimum amount, which is 5% (subject to a minimum amount of Rs.200) of your total
bill amount or any higher amount whichever is convenient and carry forward the balance to a
better financial month. For this facility you pay a nominal charge of just 3.25% per month
(39.0% annually).
Free Add-on card
You can share these wonderful features with your loved ones too - we offer the facility of an
add-on card for your spouse, children or parents. Allow us to offer add-on cards to you FREE
OF COST with our compliments.
Interest free credit facility
Avail of up to 50 days of interest free period from the date of purchase (subject to the
submission of the charge by the Merchant).
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Lost Card Liability
In case you lose your card, intimate us immediately. If any fraudulent transactions happen
after you have intimated us, you are fully absolved of any liability on those transactions up to
Rs. 2.00 lacs.
TITANIUM CREDIT CARD
Features & Benefits
Titanium Rewards*
The unique reward points structure gives you 2 reward points for every Rs150 on your
domestic spends and 5 reward points for every Rs150 on your international spends.
Zero petrol surcharge
Earn while you spend on your fuel As a HDFC Bank Titanium Card customer, you enjoy not
only a full waiver of the fuel surcharge that would be normally applicable otherwise, you also
get the benefit of earning reward points on these spends.
Lost card liability
after you have intimated to us, you are fully absolved of any liability on those transactions up
to Rs. 3.00 lacs.
37
Revolving Credit Facility #
you can enjoy the Revolving Credit Facility of the Titanium Credit Card at an interest rate of
3.15% per month.
WOMEN'S GOLD CREDIT CARD
Features & Benefits
5% cash back on your Monthly household purchases
Get a whopping 5% cash back on all grocery/ supermarket/ Medical store purchases on your
woman's gold card if your statement balance for that month is above Rs 20000.
Wide choice of redemption
My Rewards gives you an array of redemption opportunities for your Points - From
microwaves to refrigerators, from Barbie dolls to latest Fashion labels, we take pride in
giving you one of the widest options for getting rewarded! You can also redeem your
accumulated reward points for air miles on leading airlines like Jet Airways, Air India, and
Kingfisher Airlines.
Pay a minimum amount, which is 5% (subject to a minimum amount of Rs.200) of your total
bill amount or any higher amount whichever is convenient and carry forward the balance to a
better financial month. For this facility you pay a nominal charge of just 3.25% per month
(39% annually).
37
Lost card liability
after you have intimated us, you are fully absolved of any liability on those transactions up to
Rs. 2.00 lacs.
Accepted at over 23 million merchant establishments around the world, including 110,000
merchant establishments in India.
PLATINUM PLUS CREDIT CARD
Features & Benefits
Attractive Reward Points
The unique Rewards program on the Platinum Plus Credit Card now lets you accumulate 2
reward points per Rs.150 spent.
0% Fuel surcharge
You can now fuel up as and when you want, without worrying about the surcharge - enjoy
complete freedom from fuel surcharge when you purchase fuel between Rs 400 and Rs 5000
with your Platinum plus Credit Card
Lost card liability
37
after you have intimated to us, you are fully absolved of any liability on those transactions up
to Rs. 3.00 lacs
You can enjoy the Revolving Credit Facility of the Platinum Plus Credit Card at an interest
rate of 3.15% per month.
Utility bills through your credit card
register your Platinum Plus Credit Card with Smart Pay, HDFC Bank's Utility Bill payment
service. Ensure that all your utility bills are paid on time, without any hassle for you.
VISA SIGNATURE CREDIT CARD
Features & Benefits
Signature Golf
Enjoy preferred access and rates at 500 of the most exclusive golf courses in India & around
the world, with your HDFC Bank Visa Signature Credit Card.
To make a reservation, please call the toll-free Concierge Service number of the Visa
Signature Customer Centre or send an online request through Concierge Online. Please click
here for detailed Terms and conditions.
37
Signature Access
Don't let airport transfers wear you out. HDFC Bank Visa Signature Credit card entitles you
a Priority pass that provides you access to exclusive airport lounges across the world. Priority
Pass is the world's largest independent airport lounge program, which gives the cardholder
access to more than 500 airport lounges in more than 275 cities worldwide.
Priority Pass is Priced at Rs. 500/annum
Signature Rewards
What does one reward a connoisseur for? We reward them for their passion, refinement, taste
and experience. The rewards range from exotic to interesting to measurable. All yours with a
powerful accelerated Reward Program. Earn 2 Reward Points for every Rs.150 spent on your
card and double Reward Points (2 extra points) for every Rs. 150 spent above Rs. 15000.
Experience the power of the HDFC Bank Visa Signature Credit Card. Experience the
delights.
Signature Benefits
Superiority of HDFC Bank Visa Signature Credit Card is evident even in everyday use. You
also enjoy an interest free period up to 50 days, the lowest interest rate of 3.05% on revolving
credit facility (36.6% annually)# and petrol surcharge waiver of 2.5% across all petrol pumps
in the country. Enjoy the world at your fingertips.
WORLD MASTERCARD CREDIT CARD
Features & Benefits
37
World Luxury
HDFC Bank World Master Card entitles you to an exclusive "Taj Epicure" membership.
Indulge yourself in the hospitality of Taj hotels and resorts world wide. And there's more!
You can now enjoy the fine culinary delights of the Taj and enjoy a discount on all your
visits through Taj Epicure membership.
Taj Epicure Membership is Priced at Rs. 1500/annum.
World Rewards
What does one reward a connoisseur for? We reward them for their passion, refinement, taste
and experience. The rewards range from exotic to interesting to measurable - all yours with a
powerful accelerated Reward Program! Earn up to 4 reward points per Rs 150/- using the
HDFC Bank World Credit Card.
World Benefits
Superiority of HDFC Bank World MasterCard Credit Card is evident even in everyday use.
You also enjoy an interest free period up to 50 days, the lowest interest rate of 3.05% on
revolving credit facility (36.6% annually) # and petrol surcharge waiver of 2.5% across all
petrol pumps in the country. Enjoy the world at your fingertips
CORPORATE PLATINUM CREDIT CARD
Corporate Features
24x7 online MIS availability
60 MIS reports for better informed business decisions.
37
Substantial savings for the business through better negotiations with airlines, hotel chains and
other service providers.
Streamlines accounting procedures by consolidating transaction data from around the world.
Helps in integrating with the existing accounting systems
Helps in minimizing paperwork and simplifying reconciliation and compliance tasks.
Smart Data online Reports
 Card programme analysis including transaction totals, ATM usage etc.
 Spending Analysis by category
 Expense reports
 Cost allocation details & summary
 Merchant summary & details
 Account management for detailed transaction information at employee level.
Cardholder Benefits
My rewards
Earn up to 2 reward points for every Rs.150 spent on the card.
Earn up to 4 reward points for every Rs.150 spent on international transactions
Travel Benefits
10% cash back on all air tickets and hotels booked on www.yatra.com, through MasterCard
travel benefits program
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Petrol Surcharge Waiver
Offering 0% surcharge on petrol spends across all petrol pumps.
Up to 50 days interest free period on your card.
Protection Through Insurance
To show how much we care, we have provided accident insurance covers up to 25 lacs on air
travel and 3 lacs on rail travel.
CORPORATE CARD
Corporate Benefits
24x7 online MIS availability
60 MIS reports for better informed business decisions.
Substantial savings for the business through better negotiations with airlines, hotel chains and
other service providers.
Streamlines accounting procedures by consolidating transaction data from around the world.
Helps in integrating with the existing accounting systems
Helps in minimizing paperwork and simplifying reconciliation and compliance tasks.
Smart Data online Reports
 Card programmer analysis including transaction totals, ATM usage etc.
 Spending Analysis by category
 Expense reports
 Cost allocation details & summary
37
 Merchant summary & details
 Account management for detailed transaction information at employee level.
Cardholder Benefits
My rewards
Earn up to 2 reward points for every Rs.150 spent on the card.
Earn up to 4 reward points for every Rs.150 spent on international transactions
Travel Benefits
10% cash back on all air tickets and hotels booked on www.yatra.com, through MasterCard
travel benefits program
Petrol Surcharge Waiver
Offering 0% surcharge on petrol spends across all petrol pumps.
Up to 50 days interest free period on your card.
Protection Through Insurance
To show how much we care, we have provided accident insurance covers up to 25 lacs on air
travel and 3 lacs on rail travel.
HDFC BANK GOLD BUSINESS CREDIT CARD
Features of Gold Business Card
Better Business with the HDFC Bank Business card
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 Higher Credit Limits
Get Up to 10 lacs as credit limit on the card basis the company / business financials.
 Spend Based Interest Rates #
Pay lesser rate of interest when you spend more on the Gold Business card. The card
offers you a unique benefit of spend based interest rates. i.e. The more you spend on the
card in a month the less interest you accrue. The interest rates are 3.25% pm for spends up
to Rs 10000 in a month and 3.05% for spends above Rs 10,000 on incremental spends.
 Petro Surcharge Waiver
Drive the extra mile with the Gold Business card. Enjoy full waiver of the fuel surcharge
across all fuel pumps.
Business Savings
 Earn rewards with your Card
Enjoy the benefits of our exciting Rewards Programme. You will earn 1 Reward Point for
every Rs.200 spent on your Card. By accumulating these, you can redeem them into air
miles, gift cards and host of exciting gifts and offers.
Save on Business spends
Save on your business related spends with our extensive partner tie-ups. Our partner tie-ups
are across office and business equipment, services and supplies, Travel services,
Telecommunications & Security System and Services with leading brands including Acer
Laptops, HP/Canon/Xerox Printers, Honda Power products, Reliance world Blackberry, Tata
AIG and many more....
Other Features:-
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Cash at your fingertips
In a situation where you need cash, just step into any one of our ATMs or MasterCard
Member ATMs and withdraw cash up to 10% of your credit limit at a very nominal charge.
Enjoy up to 45 days interest free credit on your purchases.
ANALYSIS
After conducting the study I come to know that most of the respondents are using different
type of HDFC bank credit cards according to their use and capacity to spend and repay.
REASONS OF OWING THE CREDIT CARD
After conducting the study it is found that most of the users own a credit card due to the
following reasons:-
Businessmen own a credit card due to their necessity as it is not possible for them to take a
lot of cash every time when they go out on a business trip , some own it for shopping purpose
or for having a cash amount beyond that of an ATM card.
37
Government servants own it for shopping purpose or as a trend to have a credit card as a
reputation symbol ooor for cash.
Students and others like brokers traders etc. own a credit crd for shopping , as a trend or for
cash.
Different type of people has different type of reasons for having the credit cards like:-
Table 2.1
Reasons/respondents Businessmen Govt.Employee Students Others
Necessity 30 5 2 6
Shopping 2 4 3 12
Trend Nil 3 5 2
For cash 4 8 4 10
Total 36 20 14 30
REASONS OF OWING THE CREDIT CARD
Graph 2.1
37
35
30
25 Necessity
20 Shopping
15 Trend
10 For cash
5
0
This table and graph shows that the respondents have different reasons for owing the credit
cards like some have them for trend ,some for shopping , some for necessity and some other
have it for cash.
% of the respondents in the above graph
Table 2.2
Businessmen 36%
Govt. Employee 20%
Students 14%
37
Others 30%
Graph 2.2
Businessmen
Govt. Employee
Students
Others
SOURCE OF BRAND INFORMATION:
Television was the biggest source of brand information followed by friends, newspapers,
magazines, radio. Posters, movie theatres and internet were not that important. The
following graph gives the details
Graph 2.3
37
Sources of Brand Information
TV
Friends
Newspapers
Magazines
Radio
Showrooms
Internet
Movie Theatre
Poster
Others
It is clear from the above graph that most of the customers are influenced by the television
and after the television it comes friends, newspaper and etc.
EFFECT OF INTERST RATE
Interest rate is the main factor which affects nearly all the respondents as nearly all of them
need a low interest rate on the amount they have to pay to the credit card issuing agency.
Table 2.3
37
RESPONDENTS/INTEREST 2-5% 5-8% 8-10% More than
RATE 10%
Businessmen 4 8 10 10
Govt. employee 8 9 4 3
Students 9 6 3 2
Others 9 7 5 3
Total 30 30 22 18
Graph 2.4
10
9
8
7
6
Businessmen
5
4 Govt. employee
3 Students
2 Others
1
0
2-5% 5-8% 8-10% More
than
10%
It means that the customers are highly influenced by the interest rate charged by the bank for
making the transactions using the credit cards having the different interest rate structure
depending upon the type of the credit card the customers are having.
37
Nearly all the customers need low interest rate for their credit cards and mre credit limit is
the requirement against low interest rate by all the customers.
Percentage of the interest rates required
Table 2.4
Interest rate PERCENTAGE
2-5% 30
5-8% 30
8-10% 22
More than 10% 18
Graph 2.5
PERCENTAGE
30
25
20
15
10 PERCENTAGE
0
2-5% 5-8% 8-10% More
than
10%
37
This graph shows that 30 percent customers need 2-5% interest rate, 30 percent more need
interest rate varying from 5-8% , next 22% need interest rate from 8-10% and only 18% can
bear an interest rate of more than 10%.
Worldwide acceptability facility requirement
Most of the respondents require a worldwide acceptability for the credit card which the one is
using .
Table 2.5
Respondents/worldwide Yes No
acceptability
Businessmen 22 2
Govt. employee 18 6
Students 12 18
Others 16 6
Total 68 32
Graph 2.6
37
yes
Businessmen
Govt. employee
students
Others
Graph 2.7
No
Businessmen
Govt. employee
students
Others
37
The above table and charts shows that nearly all the respondents except the students are in
favor for the world wide acceptability and the students in majority are not in favor for the
worldwide acceptability
Percentage of worldwide acceptability
Table 2.6
Yes No
68 32
Graph 2.8
Yes
No
The above two charts clearly shows that 68% of the respondents are in favor for the
worldwide acceptability but 32% of the respondents are against the worldwide acceptability
for the credit cards.
37
CREDIT LIMITS REQUIREMENTS
Different respondents have different credit limits requirements for their credit card as for
their purpose of using it or having it like businessmen need a higher credit limit as compared
to that of the government servants or students or others who require a lower credit limit than
their business counterparts required.
Table 2.7
Respondents/Credit 20000-30000 30000-50000 50000-80000 Above 80000
Limit Rs Rs. Rs. Rs.
Govt. employees 4 7 4 4
Students 10 8 2 0
Others 12 11 6 2
Total 28 30 20 22
Graph 2.9
37
18
16
14
12 Businessmen
10 Govt. employees
8 Students
6 Others
4
2
0
20000- 30000- 50000- Above
30000 50000 80000 80000
Rs Rs. Rs. Rs.
The above table and graph shows that most of the respondents are in faour for the credit limit
of 20000-30000 and 30000-50000 rupees but some respondents like the businessmen also
need a credit limit of 50000-80000 or more than 80000rupees.
Percentage of respondents for credit limit
Table 2.8
Credit limit Percentage
20000-30000 Rs. 28
30000-50000 Rs. 30
50000-80000 Rs. 20
Above 80000 Rs. 22
37
Graph 2.10
Percentage
30
25
20
15
10 Percentage
5
0
20000- 30000- 50000- Above
30000 50000 80000 80000
Rs. Rs. Rs. Rs.
It means all the respondents are having different attitude towards the credit limit
requirements according to their needs and their capacity. Some of the respondents need a
credit limit up to Rs. 30000 or Rs.up to 50000 or Rs. 80000 or more than Rs. 80000.
Reward point requirement
The reward point requirement of the respondents de[ends on their use of the credit card as the
shoppers need much reward points as compared to that of the cash takers or the businessmen
as the high number of reard points make them to get some cash back against their shopping
spree.
Table 2.9
37
Respondents/response No point much point Average point Neutral
Businessmen 1 3 3 5
Govt.servants 2 6 7 3
Students 2 16 15 3
Others 2 15 16 1
Total 7 40 41 12
Graph 2.11
This table and graph shows that most of the customers need more reward points or average
points but very few need no reward points or are neutral to the reward point system.
37
GRACE PERIOD REQUIREMENT
Different respondents required different grace period for their credit cards according to their
use and need as the businessmen need a higher grace period than the others or the students or
the government servants.
Table 2.10
RESPONDENTS/GRACE 45 DAYS 50 DAYS 60 DAYS MORE THAN
PERIOD 60 DAYS
BUSINESSMEN 4 8 9 5
GOVT. EMPLOYEES 3 5 8 8
STUDENTS 2 4 10 3
OTHERS 5 7 9 10
TOTAL 14 24 36 26
Graph 2.12
37
12
10 BUSINESSMEN
8 GOVT.
EMPLOYEES
6
STUDENTS
4
OTHERS
2
0
45 50 60 MORE
DAYS DAYS DAYS THAN
60
DAYS
This table and graph shows that most of the respondents need more than 60 days or more
than 60 days credit limit upto which they can make their payments to the bank and can save
themselves from paying any extra charge for the late payment.
Percentage of grace period
Percentage of 45 days= 14
Percentage of 50 days= 24
Percentage of 60 days = 36
Percentage of more than 60 days =26
Table 2.11
37
GRACE PERIOD PERENTAGE
45 DAYS 14
50 DAYS 24
60 DAYS 36
MORE THAN 60 DAYS 26
Graph 2.13
Percentage
45 DAYS
50 DAYS
60 DAYS
MORE THAN 60
DAYS
The above table and charts shows that most of the respondents require a credit limit of more
than 60 days for paying their credit card payments against the transaction they made with
their credit cards.
CREDIT CARD USES FOR CASH WITHDRAWL
Credit card users for cash withdrawal have different opinion categorisewise as per their need.
Table 2.12
RESPONDENTS/RESPONSE YES NO
37
BUSINESSMEN 22 12
GOVT.SERANS 18 14
STUDENTS 10 6
OTHERS 8 10
TOTAL 58 42
Graph 2.14
25
20
15 YES
10 NO
TS S
EN A NS N ER
M
S S ER UDE T H
E . S T O
S IN VT S
O
BU G
The above table and charts shows that more tan half of the respondents need cash withdrawal
with the use of their credit card as for their daily needs may it be the businessmen ,the
government servants or the students or the other category respondents.
37
Percentage of cash withdrawal
Percentage of positive response = 58
Percentage of negative response =42
Table 2.13
RESPONSE PERENTAGE
YES 58
NO 42
Graph 2.15
PERENTAGE
60
50
40
30 PERENTAGE
20
10
0
YES NO
TRAVELLING BENEFITS ATTITUDE
Different type of credit card users have different attitude against the traveling benefits
provided by the credit card issuer agency
37
Table 2.14
Respondents/response Necessary Beneficial No need Neutral

Govt. servants 5 8 2 6
Students 0 2 15 3
Others 4 7 12 4
Total 29 29 29 13
Graph 2.16
20
18
16
14
12 Businessmen
10 Govt. servants
8 Students
Others
6
4
2
0
Necessary Beneficial No need Neutral
Percentage
Necessary = 29
Beneficial = 29
No need = 29
Neutral = 13
Table 2.15
Response PERCENTAGE
Necessary 29
37
Beneficial 29
No need 29
Neutral 13
Graph 2.17
PERCENTAGE
Necessary
Beneficial
No need
Neutral
The above tables and charts clearly shows that 29% of each category related to understand the
traveling benefits necessary, beneficial, need no traveling benefits but 13% of the respondents are
neutral in the case of the traveling benefits related to the credit cards
Customer's response towards advanced technology
Different type of respondents using credit card have their own attitude towards the technology as
per their perception.
Table2.16
37
Respondents /responses
Advanced Common Older Need
technology technology technology Modification
Businessmen 8 7 2 4
Govt.servants 5 7 1 8
Students 7 8 3 6
Others 11 9 2 12
Total 31 31 8 30
Graph 2.18
37
14
12
10 businessmen
8 Govt.servants
6 students
4 others
2
0
M odification
tec hnology
tec hnology
Advanced Common tec hnology

Older Need
The above table and chart shows that nearly 31% of the respondents need advanced
technology for the credit cards other 32% need common technology for the credit cards and
only 8% if the respondents are in favor for the old technology but 30% of the respondents
need modification in the technology in relation with the credit cards
EASY PAYMENT MODES
Easy payment modes in HDFC bank has made it easy for the customers to pay their credit
card bills easily in comparison to any other bank which is proved to be a success for the
HDFC bank to sell more and more credit cards in the market and grab a large market share in
the industry of credit cards in India.
HDFC Bank customers can make credit card payment via cell phone
37
For the first time in India, a novel mobile commerce concept of mPay (mobile payment) has
been introduced by the HDFC Bank in association with Reliance Communications. mPay
will facilitate the HDFC Bank credit card holders to make payments by merely using their
Reliance mobile phone handsets. Rahul N Bhagat, country head - retail liabilities (marketing
& direct banking channels), HDFC Bank said, "Although HDFC mPay facility is currently
available only to the Reliance Mobile phone users, we would in future tie-up with other
Indian cellular operators too. Since over 84% of our banking transactions are currently routed
through the alternate banking channels, mPay is expected to expand our credit card base
across the country."
CN Ram, head - information technology, HDFC Bank said, "The mPay platform eliminates
the necessity to use a plastic credit card since the mobile handset itself acts as a virtual credit
card with no separate card number provided as card holder's mobile number suffices the
requisite customer identification details. The new payment concept thus offers hassle free
transactions in a more secured environment since there is no need to enter credit card details
while making payments. It also thus eliminates the card skimming and related fraud risks."
It is found that due to the use of mPay technology HDFC Bank has received a lot of
responses from the customers in the form of credit card purchasing ( different types) ,
It is found that the customers are feeling a sigh of relief with the use of this technology as
now they don't have to wait for or to go to the banks to pay their credit card bills and in this
way they can now save their precious time and energy to do any other work. Hence it is said
to be a huge benefit for the customers of HDFC bank customers to use the mPay technology
to pay their credit card bills.
This technology has proved to be a great success for the HDFC bank as this technology not
only increases the number of credit card sales but also increases the satisfaction level of the
37
customers and hence increases the spending which results in high returns to the bank in the
form of interest and other charges payable to the bank by the customers.
But this technology has its drawbacks also in the form of reliance use which may not be
possible for all the customers especially for those who don't use Reliance mobile phones or
Reliance network.
In other words we can say that this technology is beneficial only for those customers who are
using Reliance mobile phones and not to be beneficial for all the customers using HDFC
bank credit cards.
HDFC Bank's offering – Forex on Swipe
HDFC Bank, one of India's leading private sector banks and one-stop financial supermarket,
has introduced yet another innovative Foreign Exchange offering for the benefit of its retail
customers – Forex on Swipe.
This facility is available to all Resident HDFC Bank Cardholders. Apart from availing
Foreign Exchange on the spot i.e. FCY Cash, Travelers Cheques and Foreign Demand Drafts
- cardholders can also avail of a Credit period, if they use their credit card. The foreign
exchange would be available against the Credit Limit of the card and this offering eliminates
the need to make payment for the purchase of Foreign Exchange by way of INR Cash,
cheque or draft, on which he would have been paying charges previously.
The issuance of Foreign Exchange could be availed up to the limit available on the Card and
will be subject to the overall ceiling as per FEMA.
All that a customer has to do to avail of this facility is:
37
Walk into the branch, submit his requirement for foreign exchange and sign the necessary
documents. After taking the required documentation from the customer, the branch will
swipe the card for the amount in Indian Rupees on the POS terminal. The Performa invoice
will be issued to the customer for the transaction, and a charge slip generated which the
customer will sign.
HDFC Bank launches World MasterCard credit card for premium customers
HDFC Bank, one of India's premier banks, announced the launch of the HDFC Bank World
MasterCard Credit Card targeting high end customers and their discerning lifestyle. The
HDFC Bank World MasterCard credit card, with a credit limit of Rs 3 lakhs upwards, will be
more exclusive than most of the premium products offered in the market and will be made
available by invitation only.
The cardholders will be offered a complete portfolio of financial solutions from Bank including Auto Loans,
Loan against Shares, Demat and Foreign Exchange services. The HDFC Bank World MasterCard credit card
also offers the cardholder unique and exclusive privileges from a wide array of Global Alliances.
Speaking on the occasion, Mr. Pralay Mondal, Country Head – Retail Assets & Credit Cards,
HDFC Bank said: "With the increase in number of Indian millionaires, the aspirations of our
customers have become truly global. They are constantly seeking products that provide them
with preferential access to services and benefits. As India's best bank, it is our constant
endeavor to offer world-class products and services. The HDFC Bank World MasterCard
Credit Card is best suited to address all needs of the truly elite Indian customers."
Mr. Nitin Gupta, General Manager, South Asia, MasterCard Worldwide, said: "We are
delighted to have worked with HDFC Bank in developing this exclusive product offering for
37
their affluent customers. With the strong economic growth in the country, there is a growing
affluence across the country, in large metros as well as in the smaller towns. MasterCard
firmly believes that the HDFC Bank World MasterCard credit card will be of great value to
HDFC Bank's customers in this segment, offering them a product that is meaningful to their
lifestyle."
Exclusive HDFC Bank World MasterCard Credit Card Privileges
- Complimentary 3 nights stay at any of over 4000 RCI resorts worldwide.
- Complimentary Taj Epicure dining Program membership offering 10% discount on dining
& other benefits.
- Special offers on HDFC Bank Auto Loans, Loans against Shares, Demat and Foreign
Exchange products.
- Complimentary membership to India's best dining & hotel program.
- 6% cash back on domestic air tickets through our travel partner.
Other Powerful benefits:
- Priority Bookings & Discounts at over 28,000 hotels and resorts worldwide
- 24x7 Concierge Services
- Accelerated Rewards Program offering up to 4 reward points per Rs 150
- Rs 1.5 Cr Air Accident cover
- Petrol surcharge waiver across all petrol pumps
- 2.5% p.m. revolve interest rate
37
New customers will be welcomed into the program with an exclusive complimentary gift.
The HDFC Bank World MasterCard Credit Card privileges and benefits can be experienced
at a special joining fee of Rs.9,999 and a renewal fee of Rs 2,999 thereafter.
With the introduction of this plan HDFC bank put itself much beyond other banks in
providing this type of world class facility in the Indian credit card market to grab a large
market share and to earn more and more benefits from the customers using high class credit
cards.
By introducing the World MasterCard credit card HDFC Bank put itself in a position from
where it can grab a large number of millionaire customers and can expand its market share to
a great extent in case of millionaire customers with the attractive offers like:
- Complimentary 3 nights stay at any of over 4000 RCI resorts worldwide.
- Complimentary Taj Epicure dining Program membership offering 10% discount on dining
& other benefits.
- Special offers on HDFC Bank Auto Loans, Loans against Shares, Demat and Foreign
Exchange products.
- Complimentary membership to India's best dining & hotel program.
- 6% cash back on domestic air tickets through our travel partner
Besides these facilities HDFC Bank also provide its customers with the following facilities:
- Priority Bookings & Discounts at over 28,000 hotels and resorts worldwide
- 24x7 Concierge Services
- Accelerated Rewards Program offering up to 4 reward points per Rs 150
37
- Rs 1.5 Cr Air Accident cover
- Petrol surcharge waiver across all petrol pumps
- 2.5% p.m. revolve interest rate
New customers will be welcomed into the program with an exclusive complimentary gift.
The HDFC Bank World MasterCard Credit Card privileges and benefits can be experienced
at a special joining fee of Rs.9,999 and a renewal fee of Rs 2,999 thereafter.
HDFC Bank’s mission
Lower risk = greater customer value
HDFC Bank’s move to reduce fraud related to credit cards was unique and intelligent. It was
unique because it was the first bank in the country to implement a Proactive Risk
Management (PRM) solution, and intelligent because it created a truly win-win situation for
its customers and the organization’s business.
We presented HDFC Bank with the Intelligent Enterprise Award 2005 in the Banking
category at the Technology Senate 2005, and C N Ram, Head, Information Technology,
HDFC Bank, accepted the trophy.
With the mission of providing lower risk against greater customer value HDFC Bank assures
its customers with high quality services and with low risk and high customer
satisfaction(value) so that the customers can enjoy their fullest with the use of HDFC credit
card than any other banks .
37
Customer satisfaction level
Table 4.1
Respondents/responses Highly Moderately Neutral Dissatisfied
satisfied satisfied
Govt. servants 12 7 1 3
Students 7 8 8 2
Others 14 6 2 6
Total 48 28 12 12
Customer satisfaction level
Graph 4.1
16
14
12 Businessmen
10
Govt. servants
8
Students
6
4 Others
2
0
This table and graph shows that nearly 40% of the total customers related to the HDFC Bank
are dissatisfied with the services provided by the bank.
37
PERENTAGE
Highly satisfied = 48
Moderately satisfied = 28
Neutral = 12
Dissatisfied = 12
Table 4.2
RESPONSE PERCENTGE
HIGHLY SATISFIED 48
MODERATELY SATISFIED 28
NEUTRAL 12
DISSATISFIED 12
Graph 4.2
37
PERCENTGE
HIGHLY
SATISFIED
MODERATELY
SATISFIED
NEUTRAL
DISSATISFIED
The main reasons behind this are:-
 employee's poor services:-
a. Related to accounts
b. related to payments
c. related to bills
d. related to offers
 employee's rudeness
So it is the banks' top levels' responsibility to overcome the so called problems so that the
dissatisfaction level can be brought down and the reputation of providing high quality
services can be fulfilled before the customers
FINDINGS
Summary of findings
After conducting the study and analyzing the data I come to the know that:-
37
Proactive Risk Manager for Debit and Credit Card Fraud Detection
HDFC bank is trying its best to attract the customers with the introduction of the latest
technology like the Proactive Risk Manager for Debit and Credit Card Fraud Detection
which is equally beneficial for the bank and the customers as the bank.
For the bank it has been able to cut losses due to risks and fraudulent practices related to
credit cards by around 30 percent. The lead-time for checking information from the credit
card holder has been reduced by around 60 percent.
For the customers the primary objective was to reduce credit card related risks and fraudulent
practices in the bank. The other objective was to provide more value to customers by sending
an alert every time a suspect transaction was made. This means that whenever there was a
purchase of high-value, or a transaction was carried out at a risk-prone merchant location, the
cardholder would be called on the phone or sent an e-mail, depending on the perceived risk,
to confirm the authenticity of the transaction.
Special Cash Offer
HDFC bank announces 50% cash back with HDFC Bank credit cards with cleartrip so as to
grab a large market share of credit card holding in the Indian industry.In this offer
Cleartrip.com and HDFC Bank bring an amazing cashback offer on domestic flights,
international flights and hotel bookings for their customers.
This offer will proved to be a success for the HDFC bank as it will help to attract a lot of
customers and to compete with the rivals in the credit card industry in India successfully to
grab a large market share.
37
HDFC Bank’s mission
HDFC Bank’s mission “Lower risk = greater customer value”
With the mission of providing lower risk against greater customer value HDFC Bank assures
its customers with high quality services and with low risk and high customer
satisfaction(value) so that the customers can enjoy their fullest with the use of HDFC credit
card than any other banks.
HDFC Bank World MasterCard Credit Card
Keeping in mind the increasing number of Indian millionaires HDFC Bank, one of India's
premier banks launch the HDFC Bank World MasterCard Credit Card targeting high end
customers and their discerning lifestyle. The HDFC Bank World MasterCard credit card,
with a credit limit of Rs 3 lakhs upwards, will be more exclusive than most of the premium
products offered in the market and will be made available by invitation only.
HDFC bank take this step to grab the high end customer’s market as with the increase in
number of Indian millionaires, the aspirations of customers have become truly global. They
are constantly seeking products that provide them with preferential access to services and
benefits and to constantly offer world-class products and services. The HDFC Bank World
MasterCard Credit Card is best suited to address all needs of the truly elite Indian customers.
For the first time in India, a novel mobile commerce concept of mPay (mobile payment) has
been introduced by the HDFC Bank in association with Reliance Communications. mPay
will facilitate the HDFC Bank credit card holders to make payments by merely using their
Reliance mobile phone handsets.
Scaling and Modeling
37
HDFC bank is using scaling and modeling techniques to reduce further losses and create
more customer value. The bank plans to perform statistical modeling of transactions in order
to maintain the optimal transaction-to-alert ratio. It will also help to increase the rate of fraud
detection to 60 percent from 40 percent.
Besides these steps to attract the customers with great offers the bank has to check the
satisfaction level of the customers as some customers are found to be dissatisfied with the
employee's behavior and the bank’s policies to withdraw the schemes without any prior
notice or information to the customers like forfeited ness of the reward points saying that the
scheme has been over.
Some customers are complaining that they are charged more interest than described in the
format they receive when having the credit card.
Some others are not satisfied with the grace period offered to them for the payments.
A few customers are complaining that the bank has seized their salary account if they find
themselves unable to pay the credits within the time period they are given to repay the
amount.
So it is the bank's duty to check the customer's complaints regularly and to solve them as
soon as possible so as to satisfy the customers and provide them with high level of
satisfaction.
SUGGESTIONS
HDFC bank is doing well currently but it has some drawbacks also like removing of schemes
without any prior notice to the customers which may be proved armful for the large
customers based bank as it may disappoint the customers and they can lose the confidence
37
with the bank and in result the bank cab lose its customers with a minor mistake of non
informance.
The bank should inform the customers with the introduction or removal of any schemes so
that they can enjoy the schemes with full and have no complaint about the removal.
In the same way the bank forfeited the reward points without any prior notice to the
customers which may be proved harmful for the bank as it may lose its large customer base
and its profits also in the future.
Thus it is the bank's duty to inform the customers properly about the reward point redemption
or forfeited ness in all the cases.
The employees of HDFC bank are found to be rude to some customers which is not a good
thing on their part as it may lose the confidence of the customers towards the employees and
the bank also which will not be a good thing for the bank's future policies and it may have to
face the problem of losing its market share also if the problem is not handled well and on all
the levels.
It is the bank's duty to inform all its existing customers with the schemes introduced recently
and about all the terms and conditions related to the offers, concessions, and other such
things which may be proved beneficial for the customers and can proved to be helpful in
expanding its customer base in the future.
LIMITATIONS
For any study and research work it is difficult to get 100% success, some points always
remain lacking there. This study also suffers from certain which are as
37
1. Sample size:
The limited sample size chosen (100 respondents) might not be enough to describe the clear
picture of the product preference and other factors foe the overall market.
2. Time constraints:
The scope of this research was limited to Delhi only due to the availability of time which
restrict to go in much depth of the problem.
3. Non availability of the secondary data:
A very less secondary data was available so the research had to be started from the root level.
If some published data would have been available, it may perhaps be helpful in the study.
4. Inability
Inability to understand the respondent’s bias exactly.
CONCLUSION
BOOM IN HDFC CREDIT CARD SALES
37
After conducting the study and analyzing the whole report I come to the conclusion that
HDFC bank's credit cards are in great demand than any other bank's credit cards in Delhi.
The main reasons behind this success story are-
1. The high quality service provided by the bank's personnel
2. The use of latest technology
3. The easy access to the problems
4. Shorter problems overcome time
5. High quality and skilled personnel
6. Highly profitable schemes launched by the HDFC bank
7. High reward points
8. Types of credit cards according to the class in the society
9. Special schemes for women customers
10. Large acceptability across the globe
11. Special mPay schemes which enables the customers to pay their dues without going
to the bank or through the agents.
12. Special concession on air tickets with clear trip
13. Special concession for medical checkup in Apollo Hospitals
14. Special concession on the shopping with Vimal textile stores
HIGH CUSTOMER SATISFACTION RATE
HDFC bank is providing the customers with high value of satisfaction so that it can grow its
customer base in the market and can earn high profits in the future.
37
FOCUS ON WOMEN CUSTOMERS
HDFC bank is focusing on the women customers with priority as they are playing a vital role
in purchasing and decision making process of the family and can be proved beneficial in the
future for the bank to enlarge its market share.
For this the bank is providing the women with the following features and benefits-
5% cash back on your Monthly household purchases
Get a whopping 5% cash back on all grocery/ supermarket/ Medical store purchases on your
woman's gold card if your statement balance for that month is above Rs 20000.
Wide choice of redemption
HDFC bank's rewards gives you an array of redemption opportunities for your Points - From
microwaves to refrigerators, from Barbie dolls to latest Fashion labels, we take pride in
giving you one of the widest options for getting rewarded! You can also redeem your
accumulated reward points for air miles on leading airlines like Jet Airways, Air India, and
Kingfisher Airlines.
FOCUS ON MILIONAIRES
HDFC bank is focusing on the increasing number of millionaires in India with the
introduction of World MasterCard credit card for premium customers so that it can grab the
market share of the millionaires in future and can earn high profits.
BIBLIOGRAPHY
1. Batra, R. and Ahtola, O. (1991). Measuring the hedonic and utilitarian sources of
consumer attitudes. Marketing Letters, 2(2), pp.159-170.
37
2. Brown, K. and Cullen, C. (2006). Maslow’s hierarchy of needs used to measure motivation
for religious behaviour. Mental Health, Religion and Culture, 9(1).
3. Blackwell, Miniard, Engle. Consumer Behaviour. Thomson4 (13), pp.38-41.
4. Katz, D. (1960). The Functional Approach to the Study of Attitudes. Public Opinion
Quarterly, 24(2, Special Issue: Attitude Change), p.163.
5. Mothersbaugh, D. and Hawkins, D. (2009). Consumer Behavior Building Marketing
Strategy. 11th ed. McGraw-Hill, pp.359-362.
6. Tyagi, C. and Kumar, A. (2004). Consumer Behaviour. New Delhi: Atlantic publishers
and distributors, p.50.
7. Albert, N. and Merunka, D. (2013b) ‘The role of brand love in consumer-brand
relationships’, Journal of Consumer Marketing, 30(3), pp. 258–266.
8. Khan, Matin. Consumer Behaviour and Advertising Management. New Age. pp. 387–393.
9. Wood, W. and Neal, D. T. (2009) ‘The habitual consumer’, Journal of Consumer
Psychology, 19(4), pp. 579–592.
10. Batra. K.Satish and Kazmi. Consumer Behaviour. Excel Books.
INTERNET SITES
www.hdfcbank.com
https://www.hdfcbank.com/personal/credit_card/cards-ataglance
https://www.goodreturns.in/hdfc-credit-card-ccb2.
https://journals.lib.unb.ca/index.php/jcim/article/view/12728/13656
ANNEXURES
37
NAME : …………………………….......……………………
ADDRESS : …………………………….......……………………
…………………………….......……………………
CONACT NO. : …………………………….......……………………
E-MAIL : ………………………….......……………………
OCCUPATION : …………………………….......……………………
AGE : ………………………….......……………………
1. HOW LONG HAVE YOU BEEN USING HDFC BANK?
<6 MONTHS [ ] 0.5-1YEARS [ ]
1-1.5YEAR [ ] 2 YEARS [ ]
2. WHICH CARD OF HDFC DO YOU USE?
ATM [ ]
CREDIT CARD [ ]
37
3. DO YOU FIND THE LOCATIONS OF HDFC CREDIT CARDSCOUNTERS
CONVEINIENTLY?
YES [ ] NO [ ]
IF NO, SUGGEST THE BEST SUITABLE LOCATION
…………………………………………
4. HOW DO YOU FIND THE SERVICES OF HDFC CREDIT CARDS?
EXCELLENT
GOOD
SATISFACTORY
BAD
VERY BAD
5. HAVE YOU EVER FACED ANY PROBLEM WHILE USING ANY OF HDFC
Bank CREDIT CARD?
YES NO
6. IF YES, PLEASE SPECIFY THE PROBLEM…………………………………..
37
………………………………………………………………………………………..
7. WHICH BANK’SCREDIT CARD SERVICE IS BEST ACCORDING TO YOU?
ICICI
SBI
UTI
PNB
HDFC
ANY OTHER BANK ………………………………………………………..
8. WHICH MEDIA AFFECT YOU THE MOST
SPECIFY…………………………………………………………………
9. What extent of credit limit you required for your credit card?
1. 20000-30000
2. 30000-50000
3. 50000-80000
4. above 80000
10. Which facility of the credit card you prefer most?
37
1. Traveling benefits ( )
2. Cash withdrawal ( )
3. Reward points ( )
4. Worldwide acceptability ( )
11. Are you satisfied with the services offered by the HDFC bank credit cards related to the
benefits?
1. Highly Satisfied ( )
2. Moderately satisfied ( )
3. Dissatisfied ( )
4. Neutral ( )
Date: (Signature)
37

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Summer Training Project Report

CUSTOMER ATTITUDE TOWARDS CREDIT CARDS IN HDFC BANK

Submitted in the partial fulfilment of the requirements

For the Degree of

MASTER OF BUSINESS ADMINISTRATION

JSS ACADEMY OF TECHNICAL EDUCATION

NOIDA – 201301.UTTAR PRADESH

(Dr. A.P.J. Abdul Kalam Technical University, Lucknow)

DEPARTMENT OF MANAGEMENT STUDIES

Prof. (Dr.) Yogendra Singh

providing me an opportunity to do my internship in “HDFC BANK”. I wish to express my

during the period of internship.

S no. Topics Page no.

3 Objectives of the study 33

5 Data source used 37 - 60

by Indian banking industry.

banks, in addition to cooperative credit institutions.

As of Q1 FY19, total credit extended by commercial banks surged to Rs 86,976.02 billion

Assets of public sector banks stood at US$ 1,557.04 billion in FY18.

March 31, 2019.

strengthen the banking sector.

locate financial services in India.

to privatization of banks and now increasing numbers of foreign banks in India.

brought a revolution in the working style of the banks.

changing dynamics of banking business brings new kind of risk exposure

revolution in the working style of the banks.

changing dynamics of banking business brings new kind of risk exposure

revolution in the working style of the banks.

 circumstances as bankruptcy of banking & financial institutions, debt crisis in major

 Growth and maintaining the sustainable development.

circumstances as bankruptcy of banking & financial institutions, debt crisis in major

about the survival, growth and maintaining the sustainable development.

expanding profitability and productivity similar to banks in developed markets, lower

them as its 100% subsidiaries.

sector in 1992 to introduce internationally accepted banking practices. The amendment of

the world economic crisis.

 GENERAL BANKING SCENARIO IN INDIA

from their banks but also received more.

 STRUCTURE OF INDIAN BANKING INDUSTRY

 CHALLENGES FACED BY INDIAN BANKING INDUSTRY

opportunities lying with banking industry of India.

banks' stocks appeared to be sensitive to risk management capability of banks.

technological innovators when competition increased, which added to the competitive

boundary, improves customer base and market share [6].

Market Discipline and Transparency

According to Fernando (2011) transparency and disclosure norms as part of internationally

provisions, shareholdings of the government, value of investment in India and abroad,

Human Resource Management

relationship between human resource management and establishment performance of

employees on the manufacturing sector. Using a unique longitudinal dataset collected

branch and manager characteristics shows a positive relationship between branch

performance and employees’ satisfaction with the quality of performance evaluation,

feedback, and recognition at the branch—the “incentives” dimension of a high-performance

communications at the branch was also important [9].

services to Indian traders.

Financial inclusion has become a necessity in today’s business environment. Whatever is

regulatory procedures and de-politicization of the financial system [10].

Levesque and McDougall (1996) investigated the major determinants of customer

impact of customer-employee relationships on customer retention rates in a major UK retail

revealed that there is a relationship between employees’ perceptions of organizational

climate and customer retention at a micro organizational level. He suggested that

concepts of customer satisfaction and retention. They used phenomenological method,

published Thought Leadership Series on Climate Change which is a collection of

Thought Leadership Series was to change the focus of people.