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SUMMER TRAINING REPORT ON Preferred Customers Attitude towards HDFC Bank LTD


Submitted to:
PAU, Ludhiana In partial fulfillment of requirements for the Awards of degree of MBA

Submitted By:
BHARTI KALIA (L-2009-BS-06-MBA (AB)) Punjab Agricultural University Ludhiana 2010

This report could not have been possible without the help of certain people and unstinting support of HDFC bank Ltd. I would like to express my sincere gratitude towards Mr. Harjot Singh Ahluwalia (Branch Manager) for his indicious and technical guidance, invaluable and vital encouragement throughout the entire project which helped me to get inside into the financial working of HDFC bank Ltd. Sincere thanks is also extended to Mr. KARAN GROVER (Relationship Manager) for his generous support , constant direction and mentoring at all stages of training. His selfless and never failing interest, perpetual inspirations, constant encouragement and constructive criticism polished my learning process and I am sure that the experience gained here will go a long way in enriching my career. I would also like to thank Mr. Manpreet Singh, and Mr. Amritpal Singh, Mr. Lalit and Mr. Mohit for providing me with required data and giving direction to complete my project. I would also like to thank Ms. Parminder Kaur and all other sales staff members for their support and guidance. I also express my sincere thanks to my respective Major Advisor Dr. Y.P. Sachdeva, Professor and Head of the Department of Business Management, Punjab Agricultural University, Ludhiana, under whose able guidance this project was completed.

I express my sincere thanks to the whole HDFC bank Ltd. for giving all the facilities during my training period. In deed, the words at my command are not adequate to convey my heart full thanks to my respective parents for the encouragement and inspiration given by them.

(Bharti Kalia) (L-2009-BS-06-MBA(AB))


The project report consists of the activities provided by HDFC Bank Ltd. to deal with their preferred customers. It gives details of the various services, schemes and offers provided by the bank to its preferred customers. This is a primary study to check the preferred customers attitude towards HDFC Bank Ltd services. A well defined and structured questionnaire was built to record the responses of the banks preferred customers. It analyzes their level of satisfaction and the problems faced by them ever.


Chapter No.









1.2 Industry Profile:a.) Origin and development of the industry:Banking in India originated in the first decade of 18th century. The first banks were The General Bank of India, which started in 1786, and Bank of Hindustan, both of which are now defunct. The oldest bank in existence in India is the State Bank of India, which originated in the "The Bank of Bengal" in Calcutta in June 1806. This was one of the three presidency banks, the other two being the Bank of Bombay and the Bank of Madras. The presidency banks were established under charters from the British East India Company. They merged in 1925 to form the Imperial Bank of India, which, upon India's independence, became the State Bank of India. For many years the Presidency banks acted as quasi-central banks, as did their successors. The Reserve Bank of India formally took on the responsibility of regulating the Indian banking sector from 1935. After India's independence in 1947, the Reserve Bank was nationalized and given broader powers. A couple of decades later, foreign banks such as Credit Lyonnais started their Calcutta operations in the 1850s. At that point of time, Calcutta was the most active trading port, mainly due to the trade of the British Empire, and due to which banking activity took roots there and prospered. First of all we must note the fact that these institutions have changed very much in character since their origin, and consequently nowadays perform many functions unknown to those of former times. The first banks seem to have arisen in connection with the business of exchanging money. In ancient times and especially in the Middle Ages the varieties of coins were greater even than at the present day, and they were much less perfectly and honestly minted. Specialists were, therefore, required to determine their exact value and equivalence and to exchange coins of

one mintage for those of another, and their BANK were in great demand at fairs and other places where merchants of different nations met for purposes of trade. Inasmuch as they kept their boxes or chests of coins on benches or "banken," the name bankers came to be applied to them. On account of their technical knowledge and the fact that they were obliged constantly to keep on hand considerable quantities of the precious metals, this business in the early Middle Ages was usually carried on by goldsmiths, but later it was sometimes assumed by the governments of large commercial cities, as, for example, by Amsterdam in 1609, by Hamburg in 1619, and by Nurnberg in 1621. Of these latter the Bank of Amsterdam was the most important and may be regarded as typical of these early institutions. From the earliest times also, bankers have been the chief agents through which foreign exchanges have been conducted. As dealers in coin and bullion they had international connections and knowledge of international affairs not possessed by other merchants, and was, therefore, in a position to undertake the settlement of international accounts by means of orders drawn on bankers in other countries or other cities with whom they had regular business transactions. As keepers of other people's money they also promoted saving, and banks thus became in time the chief savings institutions of the country.

b. Growth and present status of the industry:Currently (2009), banking in India is generally fairly mature in terms of supply, product range and reach-even though reach in rural India still remains a challenge for the private sector and foreign banks. In terms of quality of assets and capital adequacy, Indian banks are considered to have clean, strong and transparent balance sheets relative to other banks in comparable economies in its region. The Reserve Bank of India is an autonomous body, with minimal pressure from the government. The stated policy of the Bank on the Indian Rupee is to manage volatility but without any fixed exchange rate-and this has mostly been true.

With the growth in the Indian economy expected to be strong for quite some timeespecially in its services sector-the demand for banking services, especially retail banking, mortgages and investment services are expected to be strong. One may also expect M&As, takeovers, and asset sales. In March 2006, the Reserve Bank of India allowed Warburg Pincus to increase its stake in Kotak Mahindra Bank (a private sector bank) to 10%. This is the first time an investor has been allowed to hold more than 5% in a private sector bank since the RBI announced norms in 2005 that any stake exceeding 5% in the private sector banks would need to be vetted by them. Currently, India has 88 scheduled commercial banks (SCBs) - 27 public sector banks (that is with the Government of India holding a stake)after merger of New Bank of India in Punjab National Bank in 1993, 29 private banks (these do not have government stake; they may be publicly listed and traded on stock exchanges) and 31 foreign banks. They have a combined network of over 53,000 branches and 17,000 ATMs. According to a report by ICRA Limited, a rating agency, the public sector banks hold over 75 percent of total assets of the banking industry, with the private and foreign banks holding 18.2% and 6.5% respectively Introduction of many products and facilities in the banking sector was in its reforms measure. In 1991, under the chairmanship of M Narasimham, a committee was set up by his name which worked for the liberalization of banking practices. The country is flooded with foreign banks and their ATM stations. Efforts are being put to give a satisfactory service to customers. Phone banking and net banking is introduced. The entire system became more convenient and swift. Time is given more importance than money.

In 1995, the Brookings Institution published a paper entitled The Transformation of the U.S. Banking Industry: What a Long, Strange Trip Its Been. Using a breathtaking array of facts and figures, the paper described in great detail the dramatic changes that had occurred in the U.S. commercial banking industry over the 15 years from 1979 to 1994. The banking industry was transformed during that period, according to the paper (p. 127), by the massive reduction in the number of banking organizations; the significant increase in the number of failures; the dramatic rise in off-balance sheet activities; the major expansion in lending to U.S. corporations by foreign banks; the widespread adoption of ATMs; . . . and the opening up of interstate banking markets. The paper went on to explain that most of these major changes in banking could be traced to two developments: (1) the extraordinary number of major regulatory changes during the period, from deposit deregulation in the early 1980s to the relaxation of branching restrictions later in the decade; and (2) clearly identifiable innovations in technology and applied finance, including improvements in information processing and telecommunication

technologies, the securitization and sale of bank loans, and the development of derivatives markets. Other research would later confirm the papers assessments and its explanation of the course of events in the banking industry over the period 19791994. Over the two decades 19842003, the structure of the U.S. banking industry indeed underwent an almost unprecedented transformationone marked by a substantial decline in the number of commercial banks and savings institutions and by a growing concentration of industry assets among a few dozen extremely large financial institutions. This is not news. As mentioned above, the decline in the number of banking organizations has been ongoing for more than two decades and has been well documented in the literature. Nevertheless, a brief overview will serve

to clarify both the scope of the decline and the increasing concentration of assets among the nations largest banking organizations

At year-end 1984, there were 15,084 banking and thrift organizations (defined as commercial bank and thrift holding companies, independent banks, and independent thrifts). By year-end 2003, that number had fallen to 7,842a decline of almost 48 percent (figure 1). Distributed by size, nearly all the decline occurred in the community bank sector (organizations with less than $1 billion in assets in 2002 dollars), and especially among the smallest size group (less than $100 million in assets in 2002 dollars). Yet the community banking sector still accounts for 94 percent of banking organizations.

c. Future of the industry:The burden of reporting and other regulatory requirements will fall heavily and disproportionately on small banks unless remedial action is taken. Further advances in information technology will permit the development of new products, BANK, and risk-management techniques but may also pose important competitive and supervisory issues. Nonbank entities will continue to offer bank-like products in competition with banks, raising anew the question of whether banks are still special and, more fundamental, whether banks are sufficiently different from nonblank firms to justify the maintenance of a safety net for banks. It is useful, therefore, to try to chart the course of the banking industry in the next five to ten years and to consider what policy issues the industry and regulators will face. The authors of this study do not pretend to be clairvoyant. They are mindful of the many financial predictions that were once offered with confidence but turned out to be wrong or premature. This study is perhaps best described as an exercise in strategic thinking. Its approach is to analyze what has happened in the recent past, consider in detail reasons for expecting recent trends to continue or to change, and draw the consequences for


bank and regulatory policies. As always, uncertainties abound, and events that may now appear fairly improbable may in fact shape the future. This paper closes with a discussion of a number of such possible events. The future-of-banking study addresses three broad questions:

1. What changes in the environment facing banking can be expected in the next five to ten years?

2. What are the prospects for different sectors of the banking industry in this anticipated environment? Because the banking industry is not monolithic and different segments of the industry have, to some degree, different opportunities and vulnerabilities, the study considers separately the prospects for large, complex banking organizations; regional and other midsize banks; community banks; and limited-purpose banks.

3. What policy issues are the industry and regulators likely to face in the years ahead? Separate consideration is given to



The Housing Development Finance Corporation Limited (HDFC) Bank 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.

The bank was incorporated on 30th August 1994 in the name of HDFC Bank Limited with its registered office in Mumbai. HDFC Bank commenced operations as a Scheduled Commercial Bank on 16th January 1995. The bank has grown consistently and is now amongst the leading players in the industry. HDFC has branch offices in all major cities in India like Calcutta, Chennai, Delhi, Bangalore, Hyderabad, and Ahmadabad apart from HDFC Mumbai. HDFC India deals in varieties of products like home loan, standard life insurance, mutual fund, securities, credit cards, etc.

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.

Mission & Vision

HDFC Bank mission is to be a World-Class Indian Bank. HDFC Bank mission is to provide our customers with the most useful investment guidance and investment- related services available in the country. We want to become a one-stop solution for all your investment needs, one that will help you get the most out of your money. 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 risk appetite. The bank is committed to maintain the highest level of ethical standards, professional integrity, corporate governance and regulatory compliance. HDFC Bank business philosophy is based on four core values Operational Excellence Customer Focus Product Leadership People

Organizational Goals HDFCs goals are: Develop close relationships with individual households Maintain its position as the premier housing finance institution in the country Transform ideas into viable and creative solutions

Provide consistently high returns to shareholders To grow through diversification by leveraging off the existing client base.

Distribution Network
HDFC Bank is headquartered in Mumbai. The Bank at present has an enviable network of over 1725 branches in 779 Indian towns and cities.


The Banks expansion plans take into account the need to have a presence in all major industrial and commercial centers where 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 banks to various leading stock exchange, the bank has branches in the centers where the NSE/BSE have a strong and active member base. The bank offers many innovative products & services to Individual, Corporate, Trusts, Government, Partnerships, Financial Institutions, Mutual Fund, Insurance Companies. The Bank also has a network of about 4232 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, who is a Director of the Bank is appointed as Chairman of the HDFC Bank on a part time basis for a period of three years effective July 06, 2010. 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. It consists of Mr. Keki Miistry, Mrs. Renu Karnad, Mr Gautam deewan, Mr. Arvind Pandey and Mr. Ashim Samanta. 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 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. In terms of software, the Corporate Banking business is supported by Flex cube, while the Retail Banking business by Fin ware, both from i-flex Solutions Ltd. The systems are open, scalable and web-enabled. The Bank has prioritized 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.

Business Profile
HDFC Bank caters to a wide range of banking services covering both commercial and Investment banking on the Wholesale side and transactional / branch banking on the Retail side. The bank has three key business areas:

Wholesale Banking Services

The Bank's target market ranges from large, blue-chip manufacturing companies in the Indian corporate to small & mid-sized corporate and agri-based businesses. For these customers, the Bank provides a wide range of commercial and transactional banking services, 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 corporate 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 the 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. 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 September 30, 2005, the bank had a total card base (debit and credit cards) of 5.2 million cards. The Bank is also one of the leading players in the "merchant acquiring" business with over 50,000. 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.

One of the major trends in recent years has been the dramatic growth of services. The growing importance of the service sector in the economy has forced academic interest towards the field. Services are varied and distinctive enough to require a distinctive approach to be followed in their marketing and management.


THE CONCEPT OF SERVICE The term service is rather general in concept, and it includes a wide variety of services advertising, marketing research, and banking, insurance, legal and marketing services. According to Kotler, A service is any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything. Therefore, its production may or may not be tied to a physical product. Bank, as a service, can be understood in terms of its Marketing Mix elements. These are: The Product Product from services point of view, is a match between service product from customers view point and the suppliers view point. From banks point of view, product are different offerings by bank in form of saving account, current accounts, fixed accounts, de-mat account and salary account. In the form of services, these are Net banking facility, Phone banking facility, Mobile banking facility, ATMs, Debit cards, etc. The Price The price must be attractive enough to cause the customer to purchase and high enough to cover your costs and give you profit. As it is said price is a crude measures, it reflects in a single number all the attributes that a customer may value in a product like time, effort, craftsmanship, innovation, fashion, status, rarity, long term value and so on. The Promotion This involves determining the most effective means of letting your potential customers know the availability and benefits of your product or service. This can be done by promoting the products or services through advertising, sales promotion, public relations, personal selling or direct marketing. In case of banks most commonly adopted promotion tools are direct channels like personal selling through its Marketing Executive, road side marketing through use of banners, hoarding etc.


Place The most important decision element in the distribution strategy relates to the issue of location of service so as to attract the maximum number of customers. In case of HDFC Bank to penetrate into the market, it has a distribution network of nearly 1412 branches in 528 cities all over India and over 3295 ATMs. People An essential ingredient to any service provision is the use of appropriate staff and people. HDFC Bank Recruits the right staff and train them appropriately in the delivery of their service to obtain a form of competitive advantage. For eg. Relationship Managers, premium managers are appointed only to provide better services to their most profitable customers.

The Process In a service organization, the system by which you receive delivery of the service contributes the process. Like, in case of HDFC Bank, delivery of the services is direct through the bank personnel, through the use of mails in the form of monthly statement, or through the use of highly advanced technology like Net banking, Phone banking etc. Therefore, marketing on any services requires a blend of all the marketing mix elements - product, price, promotion, distribution, people, physical evidence and process. The Physical Evidence Physical evidence adds on to the image of the service organization These as perceived the by the customers. constitute physical,

tangible and controllable aspect of any service organization. These are mainly of two types: Peripheral Evidence: that is actually possessed as a part of purchase of service,


but by itself, is of no value. Like in case of a bank, say HDFC Bank, a Cheque book constitutes a peripheral evidence as it is of value only if a customer his money in his account. Essential Evidence: It is something which cannot be possessed by the customers, the building, its size and design, logo and mnemonic device of the organization, are constituents of the essential evidence as the logo of HDFC Bank adds on to the image of the bank. When Indian government removed the barriers for foreign entrants with its liberalization policy, multinational corporations helped in technical upgradation of Indian system. Prior to the change, it was a sellers market and now it is a customer oriented market. For the first time, the customer or the buyers have realized their power and organizations are more focused towards service. The same trend has been seen in the banking sector. Prior to the change, the banks were nationalized and the customers were treated impolitely. But now there has been a dramatic change in the system. It is more focused on the convenience of their customers. With the coming of private banks in Indian banking area, nationalized banks are changing their systems and habits.

Awards and Achievements


HDFC Bank began operations in 1995 with a simple mission: to be a "World-class Indian Bank". We realized 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.



Institutional Investor Magazine HDFC Bank MD, Mr. Aditya Puri among "Asian Captains Poll of Finance 2010" IDRBT Technology 2009 Awards ACI Excellence Awards 2010 FE-EVI Green Business Leadership Award Avaya Global Connect 2010 Forbes Top 2000 Companies Financial Express - Ernst & Young Survey 2009-10

Winner - 1) IT Infrastructure 2) Use of IT within the Bank Runners-up - IT Governance (Large Banks) Highly Commended - Asia Pacific HDFC Bank Best performer in the Banking category

Customer Responsiveness Award - Banking & Financial Services category

Our Bank at 632nd position and among 130 Global High Performers Best New Private Sector Bank Best in Growth Best in strength Best Retail Bank in India Excellence in Automobile Lending Bank M&A Integration Technology Implementation

Asian Banker Excellence Awards 2009

The Asset Triple A Awards Euromoney Private Banking and Wealth Management Poll 2010 Financial Insights Innovation Awards 2010 Global Finance Award

Best Cash Management Bank in India 1) Best Local Bank in India (second year in a row) 2) Best Private Banking Services overall (moved up from No. 2 last year) Innovation in Branch Operations - Server Consolidation Project Best Trade Finance Provider in India for 2010

2 Banking Technology Awards 1) Best Risk Management Initiative and 2) Best Use of 2009 Business Intelligence. SPJIMR Marketing Impact Awards (SMIA) 2010 2nd Prize

2009 Asia Money 2009 Awards IBA Banking Awards 2009 Global Finance Award

'Best Domestic Bank in India'

Technology 'Best IT Governance Award - Runner up' 'Best Trade Finance Bank in India for 2009

Excellence Award 2008 Asian Banker Excellence in 'Asian Banker Best Retail Bank in India Award 2009 ' Retail Financial Services 2008 2007

Finance Asia Country Awards 'Best Bank and Best Cash Management Bank' Dun & Bradstreet American 'Corporate Best Bank' Award for Achievement 2008 Express Corporate Best Bank CNN-IBN 'Indian of the Year (Business)' Award 2007 Nasscom IT User Award 2008 'Best IT Adoption in the Banking Sector' The Bombay Stock Exchange 'Best Corporate Social Responsibility Practice' Award Business India 'Best Bank 2008' and Nasscom Foundation's Forbes Asia Fab 50 companies in Asia Pacific Business for Social Asian Banker Awards 2007in Best Retail Bank 2008 Responsibility Excellence Retail Financial Services Outlook Money & NDTV Profit Best Bank Award in the Private sector category. Asiamoney Best local Cash Management Bank Award voted The Asian Banker Excellence Best Retail Bank in India Corporates in Retail Financial Services Microsoft & Indian Express Security Strategist Award 2008 Awards Group World Trade Center Award of For honour Business Group survey Financial Express-Ernst & Best Bank Award in the Private Sector category Young Award - Asia Pacific HRM Congress: Business Today Runner up, & many more 'Best Bank' Award outstanding contribution to international services. Today-Monitor One of India's "Most Innovative Companies"


Global HR Excellence Awards 'Employer Brand of the Year 2007 -2008' Award - Fir

Products and Services

HDFC Bank offers variety of products and services to its customers and these are following: Deposit Accounts


SAVINGS ACCOUNT These Accounts are primarily meant to inculcate a sense of saving for the future, accumulating funds over a period of time. Apart from the usual facilities, one get a free ATM card, inter branch banking, net banking, phone banking, debit card and mobile banking among others. Maintain AQB required Rs.10000/- (Urban) Rs.5000/- (Semi Urban) If AQB is less than:

Rs.10,000/- (Urban) per quarter Rs.5000/- (Semi Urban) per quarter


If customer opens a Fixed Deposit Account of Rs. 50,000/-, then he/she no longer have to maintain a minimum balance of Rs. 10,000 on Savings Account.

The following are the types of the saving accounts Savings Account Account -Retail Account Accounts: Salary Trust No Frills Regular


Payroll Classic Regular Premium Defense -Kid's Advantage Account -Pension Saving Bank Account -Family Savings Group CURRENT ACCOUNT HDFC Bank offers current account to meet business requirement of the different customers, whatever the size and scope of business be. Maintain AQB is Rs.10,000/50 cheque leaf Free The following are the types of the current accounts Plus Account Trade Account Premium Current Account Regular Current Account Reimbursement Current Account Current Current


RFC - Domestic Account FIXED DEPOSITS Long-term investments form the chunk of everybody's future plans. HDFC Bank offers fixed deposits as an alternative to simply applying for loans. It allows you to borrow from your own funds for a limited period, thus fulfilling your needs as well as keeping your savings secure. Minimum Deposits accounts Regular Deposit Super Account Sweep-in Account RECURRING DEPOSITS Invest an amount every month in HDFC Bank Recurring deposits so as to meet your financial needs. Saver Fixed Rs.10,000/-

The following are the types of the fixed deposit



Whatever customer needs, range of loans is being provided to help.

Personal Loans - For a wedding,


renovation, education, purchase of a computer or exiting holiday, loans can be taken from HDFC Banks range of Personal Loans.

Home Loans - Get the home of your dreams with a little help from us.

Two Wheeler Loans - With flexible payment options and easy repayment, our Two Wheeler Loan offers the perfect excuse to purchase that bike you've always wanted.

New Car Loans - Drive away the car of your dreams - with our New Car Loan.

Used Car Loans - Choose any used car and well put you in driver's seat.

Overdraft against Car - Get an overdraft against your car and utilize the money for your personal or business needs.

Express Loans - Borrow from Rs. 10,000 to 75,000 for any purpose at low interest rates.

Loans against Securities - Get an overdraft against your securities like Equity Shares, Mutual Fund Units, GOI Relief Bonds, LIC Policies and IMDs/RIBs.

Loans against Property - Get a loan against your residential or commercial property. Flexibility to choose between an EMI based loan or an Overdraft.


Credit Cards Silver Credit Card, Gold Credit Card, Titanium Credit Card, platinum credit card, Value Plus Credit Card, Health Plus Credit Card, HDFC Bank Idea Silver Card, HDFC Bank Idea Gold Card.

Debit cards Easy Shop International Debit Card, Easy Shop Gold Debit Card and Easy Shop Woman's Advantage Debit Card

Prepaid cards - Forex Plus card and Gift Plus Card, Money Plus card, Food Plus card etc.

Forex Services

HDFC Bank has a huge range of forex products and services that can be chosen to transact smoothly, efficiently and in a timely manner. The foreign exchange products and services offered by HDFC Bank are: Trade Finance

Traveller s' Cheques Foreign Currency Cash Foreign Currency Drafts Foreign Currency Cheque Deposits Foreign Currency Remittances Forex Plus Card

Investment Services

When you bank with us, we ensure your money is not just in safe hands. HDFC Bank help you to invest wisely through their financial and investment services. Various investment services offered by HDFC Bank are: Mutual Funds Insurance Bonds Equity Advice Financial Planning Knowledge Centre Equities & Derivatives


Mudra Gold Bar

Payment Services

Net Safe - It is a unique online payment solution that offers complete security while shopping on the Internet. With Net Safe, one can shop online without revealing his Credit Card number.

Prepaid Refill - If a person is HDFC Bank account holder and a prepaid customer, he can refill his prepaid mobile card with prepaid refill service.

Bill Pay - Telephone, electricity and mobile phone bills can now be paid at customers convenience through the Internet, ATMs, mobile phone and telephone with Bill Pay, our comprehensive bill payments solution.

Direct Banking Channels


Wherever you are, your accessible. Experience the



always and



convenience with our range of innovative services. Net Banking - Access your bank account from anywhere in the world, at anytime, at your own convenience.

You can also view your Demat Account through Net Banking. With Net Banking, you can not only view your account balance but also open a Fixed Deposit, transfer funds, pay your electricity, telephone or mobile phone bills and much more. What can I do using Net Banking? View Account Balances & Statements Transfer Funds between accounts Create Fixed Deposits Online Request a Demand Draft Pay Bills Order a Cheque Book Request Stop Payment on a Cheque


One View One View is a revolutionary service from HDFC Bank that allows you to manage multiple accounts in different banks through one single online interface. If you are an HDFC Bank customer and have one or more accounts with Citibank, ICICI Bank, HSBC India, Standard Chartered Bank then One View is just right for you.

Features & Benefits No need to individually log on to internet banking of every account. Just log on different banks. Remember only ONE password. No charges whatsoever Enjoy this convenience, absolutely FREE! ATMs Now, your money is accessible to you 24 hours a day, 7 day a week, 365 days a year from any of our over 4232 ATM across India. So, wherever you are, at whatever time, you will always have access to your account. to One View and manage upto FIVE accounts in


Benefits: 24-hour access to cash - Withdraw up to Rs.10,000/per day on your ATM Card. The fast cash option saves your time by providing the cash in denominations of Rs.500/-. View Account Balances & Mini-statements - Get details of the last 9 transactions on your account with the mini-statement, along with your balance. Order a Cheque Book / Account Statement Transfer Funds between accounts - You can also transfer money from one of your accounts to another. Both accounts must be linked to your ATM Card and Customer ID. A maximum of 5 saving and 5 Current Accounts can be linked. Refill your Prepaid card - If you are an HDFC Bank Account holder and a prepaid customer, you can now refill your prepaid card with our Prepaid Refill service. Pay your utility bills - Pay your cellular, telephone and electricity bills through the ATM using Bill Pay, a comprehensive bill payments solution. Know more about Deposit cash or cheques - You can deposit cash or cheques into your account and the ATM will immediately print a receipt for the same. Phone Banking - When you dial in to Phone Banking, a voice prompt will guide you through the various


transactions. You may also talk to a Phone Banker, who will provide you with the required assistance.

Avail of the following services via Phone Banking: Check your account balance - Get up-to-the-second details of your Savings or Current Accounts and your Fixed Deposits. You can also get the details of the last 9 transactions on your account, or have a mini statement faxed across to you. Enquire on the cheque status - You can use Phone Banking to check on the status of cheques issued or deposited from anywhere in India. Order a Cheque Book / Account Statement - Just call Phone Banking and get your Cheque Book or latest Account Statement delivered at your doorstep. Stop Payment - Stop payment of a single cheque or a series of cheques, 24 hours a day. Loan Related queries - Get details of the outstanding loan amount, enquire about your loan account, request for an interest certificate and repayment schedule, etc. Just call Phone Banking in your city and dial 4 and speak to our Phone Banker.


Open a Fixed deposit or Enquire on your Fixed deposits / TDS - Talk to our Phone Banker to easily open a Fixed Deposit over the phone, by simply authorizing a transfer of funds from your Savings Account. Transfer Funds between accounts - You can also transfer money from one of your accounts to another. Both accounts must be linked to your Customer ID. You can transfer amounts up to Rs 1 Lac in a single day. Pay your bills - Pay your cellular, telephone, electricity and HDFC Bank credit card bills through the Phone Banking using Bill Pay, a comprehensive bill payments solution. Report loss of your ATM / Debit Card / Forex Plus Card - If your ATM / Debit Card / Forex Plus Card is lost, call any Phone Banking numbers to deactivate your card(s). Learn about all our other products - Get details on HDFC Bank products & services by talking to our Phone Banker. Enquire about latest Interest / Exchange rates - Get latest Interest rates on Deposits and Foreign Exchange rates by talking to our Phone Banker. Mobile Banking - Access your account on your mobile phone screen at no airtime cost. Use SMS technology to conduct your banking transactions from your cell phone.


Our Mobile Banking service provides a host of features at your finger-tips through SMS: Get your balance details Obtain your last 3 transaction details Request a cheque book Stop a cheque payment Enquire cheque status Request an account statement Get Fixed Deposit details Pay your bills

Insta Alert Just register for our Insta Alert service and receive updates on your account as and when the select transaction happens - all this without visiting the branch or ATM.

You can register for any or all of the following alerts: Debit transactions greater than Rs.5,000/ Rs.10, 000/ Rs.20,000/Rs. 50,000 Credit in account greater than Rs.5,000/ Rs.10, 000/ Rs.20,000/Rs. 50,000 Account Balance below Rs.5,000/ Rs.10, 000/ Rs.20,000/Rs. 50,000Weekly account balance


Salary Credits Utility bill payment due Alert

Bill Pay - Now, you have the luxury of paying your telephone, electricity and mobile phone bills at your convenience through the Internet, ATMs, your mobile phone or telephone - using Bill Pay, a comprehensive bill payments solution. LIC insurance premiums can also be paid through this facility.

A variety of payment modes available - Internet, ATMs, your Mobile phone, Telephone and Direct Pay. Inter City/ Inter Branch Banking - Our sophisticated computerized network gives you the flexibility of accessing your Savings or Current Account from any of our over 531 branches and over 1300 ATMs across India. HDFC BANK, NAKODAR HDFC Bank, Nakodar playing a pioneer role in providing banking services to the residents of Nakodar. I have got an opportunity to complete my summer training here.


The branch is situated in the heart of the city satisfying the banking needs of the people with its efficient Bank Staff, Reliable and Prompt services and under the esteem guidance of its Head Office. This Branch is providing Retail banking services.

SWOT Analysis

Amalgamation with Centurion Bank of Punjab provided large database of Punjab. Location is also strength of HDFC Bank. Totally NRI belt of 28 villages comes under tehsil Nakodar.






comparatively large farms which is proved as a boom for selling agri-products. Foreign Exchange service is available with HDFC only at Nakodar. Due to large no. of branches wide coverage is possible. Loans are disbursed aggressively. WEEKNESS Sitting arrangement is not satisfactory. Staff availability is less during peak hours. Sales staff is less as compare to other banks. Database is less as compare to other banks. KYC process is very lengthy as well as time consuming.



Can attract more customers by charging less interest rates on loans as compare to other local banks.

Bank can penetrate easily with proper utilization of huge network available. THREATS

Decentralization policy of Capital Local Area bank is a major setback for HDFC Bank. Liberalized policy of Axis Bank of KYC is also giving competition.

Financial Analysis
Financial analysis refers to the process of determining the financial strengths and weakness of a company or firm by establishment strategic relations between the items of the Balance Sheet, Profit & Loss Account and other operative data. In short, it is the analysis and interpretation of information contained in financial statements to obtain a better understanding of the companies performance, position, profitability and financial soundness. A. Ratios 1) Liquidity Ratio Liquidity refers to the ability of a concern to meet its current obligations as and when these become


due. The short - term obligations are met by realizing amounts from current assets. a) Current Ratio: Current ratio is the relationship between current assets and current liabilities. This ratio is used for short term liquidity position. Current Assets Current Ratio Liabilities [Current Assets = Cash + Balances with Banks + Other Assets Deferred Tax] Rs. 11,50,613 2010= 1.21 Rs. 9,50,398 Rs. 9,13,476 2009 = Rs. 7,84,949 = 1.16 = = Current

Rs. 5,73,107 2008 = Rs. 5,26,446 Rs. 4,52,912 2007 = Rs. 6,29,698 = .72 = 1.09


Analysis: This ratio depicts whether the Bank has sufficient Current Assets to pay its Current Liabilities. The rule of thumb of this ratio is 2:1. But as shown in all the 3 years this rule of thumb is not met. Although rate of growth in current ratio is higher in year 2008 (1.09) as compare to 2007 (0.72), but ratio is progressing at lower rate in year 2009 (1.16) and 2010 (1.21). However, an increasing ratio at good rate promises the good future of the bank.

Quick Ratio: Quick ratio also known as Acid Test or Liquid Ratio is a more rigorous test of liquidity than the current ratio. The term Liquid refers to the ability of a firm to pay its short-term obligations as and when they become due. Quick Assets Quick Ratio = Current

Liabilities Rs. 8,55,358 2010 = Rs. 9,50,398 Rs. 6,91,900 2009 = Rs. 7,84,949 = 0.88 = 0.90


Rs. 4,47,400 2008 = Rs. 5,26,446 Rs. 3,55,088 2007 = Rs. 6,29,698 Analysis: Quick ratio shows that how many times the quick assets are available to pay the current liabilities of bank. The rule of thumb is 0.5:1. As data clearly depicts that bank satisfies this ratio. In the year 2007 the ratio is being satisfied at 0.56 by bank and ratio increases at higher rate to 0.85 in 2008 year. A small increase is shown in year 2009 and 2010 at 0.88 and .90 respectively. The main reason behind that the bank is keeping cash excess of its CRR. The bank is fully satisfying its short term solvency. 2) Operating Profit Ratio Operating Profit Operating *100 Total Income [Operating Profit = Total Income Interest Expended Operating Expense] [Total Income = Interest Earned + other Income] Rs. 6,42,972 Profit Ratio = = 0.56 = 0.85


2010= 32.18% Rs. 19,98,052 Rs. 5,17,896 2009 = 26.39% Rs. 19,62,288

*100 =


Rs. 1,34,387 2008 = Rs. 3,74,483 Rs. 3,55,088 2007 = *100 = 33.28% Rs. 3,02,896 Analysis: Operating Profit ratio shows the profit earned by Bank from its operating activities. Operating profit is obtained by adding all Income of Bank and deducting the operating expenses. All non-recurring Income and Expenditure are ignored. When see the data it shows that Bank has 33.28% as operating profit in year 2007 which increase to 35.34% in year 2008. In the year 2009 it is 26.39% which is less as compare to 2007 and 2008 years. But bank has a ratio of 32.18% in year 2010 it means after a year it comes on track successfully. So Bank promises a good future deal towards its Holders and Customers. 3) Operating Cost Ratio *100 = 35.34%


Operating Cost Operating *100 Total Income [Operating Cost = Interest Expended + Operating Expense] [Total Income = Interest Earned + other Income] Rs. 13,55,080 2010= 67.82% Rs. 19,98,052 Rs. 3,62,059 2009 = *100 Rs. 5,59,932 Rs. 2,40,096 2008 = *100 Rs. 3,74,483 Rs. 2,02,105 2007 = *100 Rs. 3,02,896 Analysis: Operating Cost ratio depicts the operating cost incurred by Bank to earn its operating total Income. As shown by above ratio its clearly depicts that Banks operating cost is rising leading to reducing operating profit. Banks operating cost in the year 2007 was 66.72% and it reduced to 64.11% in year 2008. But = 66.72% = 64.11% = 64.66% *100 = Cost Ratio =


again it is increasing 64.66% in year 2009 and 67.82% in 2010. Presenting a good future of bank in spite of such increase because overall income of Banks rising. 4) Profitability Ratio Net Profit after Tax Profitability *100 Total Income [Total Income = Interest Earned + other Income] Rs. 2,94,869 2010= 14.75% Rs. 19,98,052 Rs. 87,078 2009 = *100 Rs. 5,59,932 Rs. 66,556 2008 = *100 Rs. 3,74,483 Rs. 50,950 2007 = *100 Rs. 3,02,896 = 16.82% = 17.77% = 15.55% *100 = Ratio =



Profitability ratio shows the Net Profit after tax earned by bank upon his total Income. Banks total income is increasing each consecutive year. In the year 2007 the Bank has earned 16.82% profit after tax on his total income and it raise to 17.77% in year 2008. But now it is continuously falling in year 2009 and 2010 which is 15.55% and 14.75% respectively. But overall prospective of bank is highly good because banks overall income is rising.

Proprietory Ratio: Proprietory ratio indicates the extent to which the Assets of the company can be lost without affecting the interest from the creditors. solvency. Shareholders Higher ratio, higher long term

Fund Proprietory Ratio = Total Assets [Shareholders Fund = Capital + Reserve and Surplus] Rs.21,51,959 2010= 0.09 Rs. 2,22,45,860 Rs. 5,29,953 2009 = Rs. 73,50,639 Rs. 4,51,985 2008 = = 0.09 = 0.07 =


Rs. 51,42,900 Rs. 2,69,188 2007 = Rs. 42,30,699 Analysis: The above analysis shows that 6 paise is contribution of shareholders in every rupee invested into the Bank. This increased gradually in next year 9 paise but slightly fall to 7 paise and then again rise to 9 paise in 2010. It shows that bank premises a good long solvency. = 0.06




Objectives of the report

1. To know about Preferred Customers attitude towards HDFC bank services. 2. To know the satisfaction level of Preferred Customers of HDFC Bank Ltd. regarding: Extra Benefits etc. 3. To trace out the problems faced by the Preferred Customers of HDFC Bank Ltd.

Products, Services, Dealing, Rate charges,

To study brand image of the bank.


Preferred Customers
Preferred Customers is that Customers of Bank which is being preferentially treated by the bank. Preferred Customers are most Profitable Customers for the HDFC Bank for the reason that he has a large sum of money in the Bank. On fulfilling the Eligibility criteria, any customer of the Bank became a Preferred Customer and also he enjoys many services from the Bank at concessional rates which are not enjoyed by the normal Customers of the Bank. HDFC Bank as a process gives Bending to the accounts as per the profitability. The bends ranges from 1 to 5 Where: 1 is least profitable 5 is most profitable. The Preferred Program The Preferred program has designed to take care of most profitability customers of the bank.


With HDFC Bank Preferred Program, customers comfort always comes first. Ideal for seasoned professionals or businessmen, this program will provide with a banker dedicated to take care of all banking and investment needs of customers. It also means customers get preferential rates on various banking products and other exclusive benefits.

The objectives of the Preferred Program are: Enhance the size of the relationship that the preferred customers have with the bank. Thus growth over the current relationship value remains the foremost objective. Deepen the relationship by cross selling as many of the banks product and services to the preferred customers. This will result in higher loyalty and greater profitability of these relationships. Provide the best possible service to these customers. Thus each preferred relationship will have a Relationship Manager to take care of all service needs. Through a process of referrals from exiting preferred customers and through targeted programs on select customer database, acquire new preferred customers into the program.

Benefits available to Preferred Customers


The following benefits will be available to all preferred customers: All Preferred customers will have a dedicated Relationship Manager to look after their relationship. The role of the RM will be to offer all product and services of the bank to the customers and make it easy for the customers to avail of these services. The RM will also be responsible to take care of all servicing needs to the preferred customers.
Special price offs or discounts on product and

services. The list below provides the discounts available Seria l No. 1. 2. Waiver of Items minimum Remarks AQB All accounts belonging to customers under the Preferred program will get a zero balance waiver. The daily limits applicable to all debit cards issued to Preferred customers will be cash withdrawal at ATMs Rs. 25,000/-, at POS; Rs. 3. Special design Debit card 50,000/-. All Preferred customers will get a specially designed debit card. This card will be used as an 4. Gold Debit card free for life identifier for a whole host of marketing programs. The annual fee of Rs. 500/- will be waived for life for all customers under the Preferred program. This waiver will apply to all the account holders in 5. that group. PAP cheque book facility on the Preferred customers will get free PAP cheque SB account 6. PAP facility on Current accounts books on the SB account. This facility will be available on request. Preferred customers can also request for a free PAP cheque book on their Current account. Intercity funds transfers will be charged at Rs. 7. 50% discount on lockers charges 1.50/- per 1,000. Preferred customers will get a reduced annual rental of 50 per cent on lockers.

maintenance charges Higher limits on the Debit Card



Better conversion rates on FX Conversion rates on FX transactions can be txns improved upto 8 paise on the card rates for both buy and sell FX txns. Preferred customers will get a waiver on the also avail of the My City Benefit card free of charge. Account opening charges reduced to Rs. 399 for Preferred customers. Reduced annual charges on There is no charge.


Gold Credit Card free for life* portfolio)

(*life = as long as customer on annual fee on Gold credit cards. Customers can

1 0. 1 1. 1 2. 1 3.

HSL a/c

Demat accounts Cheque pick up Preferred customer can request for a free cheque pick up for deposit into their account. Free combined statement Preferred customers will receive a combined statement at a monthly frequency free of charge. The statement will provide details of their CASA and FD accounts. The set up fee of Rs. 150/- and transaction charge of Rs. 25/- per txn is waived for Preferred Special products* pricing on customers. asset Preferred customers will get a reduced piecing on Asset products.

1 4. 1 5.

Free standing instructions


per the Verification & Pricing Norms for Bank

Customers Asset Loans policy published by the Retail Asset Group. Service charge waivers of up to Rs. 2,000/annually In addition to the above mentioned Price offs/Discounts, Preferred customers will be entitled to a waiver of up to Rs. 2,000/- annually on service charges that the Bank recovers on a whole host of services. Charges included in his list are:


Serial Items No. 1. 2. 3. 4. 5. 6. DD/MC charges* Inter-branch funds transfer charges Stop payment charges Cheque return charges Cheque collection charges DD cancellation charges

Serial No. 7. 8. 9. 10. 11.

Items Hold mail charges Duplicate statement Certificate of balance FIRC* charges Recovery of old records

MC charges* = Managers Cheque Charges (its only for the local transactions). FIRC* = Foreign Inward Remittance Certificate (its a duplicate certificate).

On-demand exclusive privileges

No charges on NEFT & RTGS transactions through Netbanking. Get Free Alerts on your mobile phone or in your mailbox by registering for our InstaAlert facility. It comes at no cost to you. Register for free e-Age Banking - Avail of MobileBanking, NetBanking, or PhoneBanking facilities. Waiver of AQB non-maintenance charges Free Preferred International Gold Debit Card, with higher spending limit of up to Rs. 50,000 and cash withdrawal of up to Rs. 75,000 in a single day. No charges will be levied for balance enquiry and cash withdrawal if you transact on non


HDFC Bank ATM (VISA/ MasterCard / Euronet/ SBI/ Andhra Bank) in India.

A life time free HDFC Bank Credit Card which offers you exclusive and preferential benefits!* Request for a free "At Par" cheque book payable at any HDFC Bank branch across the country, doing away with the need for asking for a demand draft. Avail of a locker at just 50% of the annual fee. (Subject to availability) Open multiple Demat accounts absolutely free of charge. Also, avail of a discounted rate on transactions on your Demat account. Preferential Forex rates. Avail of combined monthly statement of your Savings, Current and Fixed Deposit accounts where you are principal holder. Free Standing Instructions facility. Cheque pick up facility. Avail of the BillPay facility and take care of all your utility bills and LIC premiums through PhoneBanking and NetBanking.

Eligibility for entry into the Preferred Programme The terms and requirements for being eligible for the HDFC Bank Preferred Programmer are following: You are eligible for the Preferred Program if you:

Hold at least one Savings or Current account, sole or joint account, with HDFC Bank. Maintain a minimum Average Monthly balance of Rs. 15 Lakhs across all your accounts (Savings, Current and Fixed Deposits*) OR


Maintain an Average Quarterly Balance of Rs. 2 Lakhs in your Savings account. OR Maintain an Average Quarterly Balance of Rs. 5 Lakhs in your Current account. The requisite balance can be maintained over your accounts and over those of your immediate family members.

Note: For the purpose of arriving at the relationship size for a single customer or a group comprising of multiple customers, only those accounts in which the customer(s) is/are the first holder(s) should be considered i.e. the customer ID necessarily has to be the first holder CustomerID. Once a customer has been grouped under one relationship, the same customer cannot from part of another relationship. At the time of entry of a group into the preferred program, all CASA accounts being aggregated to arrive at the qualifying criteria should have been with the bank for one full quarter. Even if one account has not been with the bank for one full quarter and is being considered to reach the qualifying criteria, then the case needs to be approved as an exception by the RBM. In case multiple FDs need to be belonging to a group are being aggregated to arrive at the qualifying criteria, then all FDs need to be of tenors of at least 6 months. In case even if a


single FD of a tenor less than 6 months then an exception approval need to be obtained from the RBM. The entry into the Preferred program will be as per the criteria defined above. All relationship will be continuously monitored every quarter to ensure that at least one of the eligibility criteria is always satisfied by that relationship or group i.e. At least one of the eligibility criteria with respect to SB, CA or Fixed Deposits has to be met. Going forward, the eligibility criteria will be based on profitability i.e. Net revenue realization from the relationship/group after netting off all servicing costs. The data of implementation of Profitability criteria will be communicated later.

Grouping Rules for grouping Serial No. 1. Entity satisfying the entry Who can be groped?

criteria Individual

Spouse, children, father brother, sister



Ltd/Company/HUF in which the ind 2. Proprietorship firm

the Proprietor, Partner, Director or Ka Proprietorship in the individual capa individuals All partners in their individual capacity individuals All Directors in their individual capacity individuals The Karta and Co-parceners in their

family members as per the grouping c 3. Partnership firm

family members as per the grouping c 4. Pvt. Ltd Company

family members as per the grouping c 5. 6. HUF Trust/Society

capacity None of the trustees and members of th can be grouped

Other conditions The Cust ID of the main member in the group should be assigned as the Group ID. Even if there is a single Cust ID in a group, it should be assigned as the Group ID for the single Cust ID.

A maximum of 10 Cust ID can form a part of a group. A Cust ID cannot form part of 2 groups in its capacity as the first account holder ID e.g. If Cust ID C1 is part of group G1, then all accounts where C1 is the first holder can only be included in group G1. However, in case C1 is a joint holder in some account, then that can be grouped in a different group. Cases not satisfying the above grouping criteria need to be referred to Product approval. Management for exception

Only one RM service all members of a group.


As stated in the section on eligibility criteria, the relationship size can be met at a group level. In case the branch would like to induct a particular relationship/group that does meet the entry criteria into the Preferred program then the RBM needs to approve the case as an exception. Important 1. 2. The waiver of Rs. 2,000/ per annum on service All Cust IDs within a group will enjoy the price

charges will be available at a group level. discounts as available under the program. Exception cases Existing Customers not meeting the only as exceptions with the

eligibility criteria can be inducted into the program

approval of the RBM. New Customers whose accounts are opened in a Quarter can be inducted into the program based on CASA balances, only as exceptions approved by RBMs as AQB will not be available. Deemed Preferred Customers Recognizing a need for a strong cross sell of the Preferred program into select customer segments and also that in certain cases key functionaries/officials can influence banking decisions; this new category is being introduced under the Preferred program. R.M.s can induct the following persons into the preferred program as deemed preferred customers: 1. Officials of the rank of General Manager

and Vice-Presidents in all Cat A and CSRM








company discontinues its salary relationship with the bank, the Preferred status on its officials will be withdrawn. 2. Officials of the rank of General Manager and Vice-Presidents in all companies having a Corporate Banking relationship with the bank. 3. Key officials of Trusts/Societies/Ltd. Companies restricted to a maximum of 3 such officials per relationship. Note: Family members of deemed Preferred customers cannot be included in the program. Ongoing review of customers in the Preferred program The RM will counsel the customer at the end of the first quarter. The objective of the counseling is to know whether the customers met the criteria or not. Ethnic codes There will be separate ethnic codes track Preferred customers and Deemed Customers. Waivers and Flexi-Waivers Waiver and Flexi-waiver will be at group level Standard waiver will be RS 2000/ Higher waiver amount will be offered to large value relationship, through exception sign-offs. These waivers will be based profitability of the relationship and will be approved by the product group in the format attached in Annexure IX) The total waiver amount will be lower 20% of profitability or 20,000/


All Flexi-Waivers will be reviewed by the product group every quarter to ensure that profitability norms are maintained.

The above charges will be computed and stored in the service module to track the waiver limit. Need for study Need laid down the foundation of every research. So as far as the need of study of Preferred Customers attitude towards HDFC Bank services is related with a lot of basis and reasons are there for this research. Preferred Customers are those Customers who are preferentially treated by the banks as regards to the services and products and all these Preferred Customers satisfy and fulfill the eligibility criteria laid down by the bank which is of course something special. A question generally comes in our mind that how and why the concept of Preferred Customer has evolved. As known the Bank has large number customers which are holding big accounts and big amount of funds in the Bank. They require some special kind of services because of there large sum of money and large size of accounts. But Banks failed to give them special attention from their large list of customers. Being not fully satisfied they may change their holding size or shift to other banks due to the increasing competition between Banks. To hold these special and large customers requiring special services bank categories into Preferred Customers from the Bank viewpoint. Preferred Customers are most Profitable

Customers for the Bank for the reason that he has a large sum of money in the Bank. Thus Bank starts giving the special services to their preferred customers.


By giving special services to the Preferred Customers Banks not only keep on satisfying them also filled its pocket by huge profits. To study out such eligibility criteria is one of the important objective and need of research as such study help us to explain the pros and cons of such criteria. Such criterion is also called as Preferred Programme. A Preferred Programme is laid down for Preferred Customers of HDFC Bank whom has to satisfy such criteria. It is a kind of conditions for the Preferred Customers. A big part of our research devotes to such preferred programme study. It reveals the attitude of Preferred Customers. Under the category of Preferred Customers benefits available to Preferred Customers is main attraction. Many kinds of benefit are provided to the Preferred Customers. Its include waiver of services charges like free Direct Banking, reduce charges i.e. 50% on locker facility etc. To study about such benefits and its responses from Preferred Customers is also our main need of research. As from above it is very cleared that above points to be assured in details with may study. I tried to raise some issues concentrate with Preferred Customers and Preferred Program. The need of study is not only to check the attitude of Preferred Customers but also know their satisfaction level and reasons of the satisfaction and dissatisfaction and to know about their problems and further expectations from the bank.



Research methodology is the specification of method of acquiring the information needed to structure or solve the problem at hand. It is not concerned to decision of the fact, but also building up to data


knowledge and to discover the new facts involved through the process of dynamic change in the society. Research Design Research design is a pattern or an outline of research project working. It is a statement of essentials elements of a study. Under this project, research design carried out was Descriptive in nature, which aims at the description of the state of affairs as it exits at present Data collection Primary data source: People from different profession were personally visited and interviewed. They were the main source of Primary data. The method of collection of primary data was direct personal interview through a structured questionnaire. Secondary Data Source: It was collected from internal sources. The secondary data was collected on the basis of organizational file, official records, news papers,

magazines, management books, preserved information in the companys database and website of the company.

SAMPLING PLAN: Population/Universe: All the Preferred Customers of HDFC Bank ltd. Sampling Units: It includes any Preferred Customer of HDFC Bank, Nakodar Branch.


Sample Technique: The sample unit was selected on the basis of convenience of sampling members of the sample had accessibility as the basis of selection. Sample selection was done at the convenience of researcher. Research Instrument: Structured Questionnaire. Contact Method: Personal Interview. Sample Size: Sample size includes 100 Preferred customers of HDFC Bank, Nakodar Branch. Data Analysis and Interpretation After gathering the information the next work is towards the finding of the conclusions by logical inference. The data, which was in the form of responses was incapable interpretation until converted into the significant information, tabulation of data was done to present the data into easily understandable form. The data was processed with Simple Average, Percentage and were represented with the help of Tables, Bar Graphs, Pie Charts and Histograms.


Limitations of The Study

The results of the study are based on the data given by the respondents. Any biased information on their part may have distorted the actual results.

The accuracy of the result is also limited by the reliability of tools of investigation, data analysis and the knowledge of the researcher.

The sample size in relation to total size of population is small and thus findings may not highlight the exact perception.

The time and financial constraints also have some binding on the quality of the study.


The study is conducted in the months of June and July 2009, so it is representative of that period only.








Customers of HDFC Bank Ltd., Nakodar branch only. So it is representative of above only.



This chapter contains the various research results and discusses them in detail regarding the various aspects and parameters of the study. Information collected has been tabulated and presented on graph according to the defined parameters so as to interpret the general statement in a better way. 1. To study what sort of customers of HDFC Bank are preferred? Occupation Agriculture Business Service Retired Total No. of Respondents 75 10 10 5 100 % of total responses 75% 10% 10% 5% 100%



10% 10%

5% Agriculture Business Service Retired 75%

FIGURE 1 Figure 1 shows that about 75 % of the customers are agriculturist. 10% are businessmen, 10% are servicemen and 5% are retired person.

2) Income Level of Preferred Customers

Income Level (in Rs.) Below Rs.4,00,000 p.a. Rs.4,00,000 - Rs.8,00,000 p.a. Rs.8,00,000 - Rs.12,00,000 p.a. Above Rs.12,00,000 p.a. Total

No. of Respondents 30 45 20 5 100

% of Total Responses 30% 45% 20% 5%



Below Rs.4,00,000 p.a. 20% 5% 30% Rs.4,00,000 - Rs.8,00,000 p.a. Rs.8,00,000 Rs.12,00,000 p.a. 45% Above Rs.12,00,000 p.a.

Figure 2 Figure 2 shows that 30% of the Preferred Customers belong to the below Rs.4,00,000 p.a. income class and 45% of Preferred Customers are under income level of Rs.4,00,000 - Rs.8,00,000 p.a. 20% and 5% of Preferred Customers belongs to Rs.8,00,000 Rs.12,00,000 p.a. and Above Rs.12,00,000 p.a.

3) To find out whether Preferred Customers have exclusive dealing with HDFC Bank HDFC As a Primary Bank Yes No Total No. of Respondents 60 40 100 % of Total Responses 60% 40%


IsH F a prim bank DC ary

40% 60%

Yes No

Figure 3 Figure 3 shows that 60% of the Preferred Customers deal only with HDFC Bank where as 40% of the Preferred Customers deals with HDFC Bank and other Banks also (like SBI, PNB, PSB, OBC, Capital Local Area Bank etc.)

4) Duration of association with the Bank Duration of Association with the Bank Less than 6 months 6 months 1 year 1 year 3 years No. of Respondents 2 12 46 % 2% 12% 46% of Total



above 3 years Total

40 100
Duration of association with the bank





Less than 6 months 6 months 1 year 1 year 3 years above 3 years 46%

Figure 4 Figure 4 reveals that 46% of the Preferred Customers are associated with the HDFC Bank from the time period 1-3 years. 40% of the Preferred Customers are dealing with the HDFC Bank from the time period more than 3 years. For the period of 6 months 1 year and less than 6 months the percentage is 12% and 2% respectively.

5) Appropriate source through which Preferred Customers got the knowledge of Bank and its products Sources Awareness of Customers No. of Respondents % of Total Responses


Newspapers Magazines Television Brochures Bank Staff Internet Friend and Family Total

2 1 5 1 51 0 40 100

2% 1% 5% 1% 51% 0% 40%

Sources of customer awareness

2%1% 5% 1% 40%

Newspapers Magazines Television Brochures Bank Staff 51% Internet Friend and Family


Figure 5 Figure 6 depicts that majority of the Preferred Customers (51%) got the awareness about Bank and its products through Bank staff, 40% came to know through friends and family, where as 5% and 2% through television and newspapers respectively. There were fewer Preferred Customers who came to know about the Bank and its products through Magazines (1%), brochures (1%). This figure also shows that not a single Preferred Customer had come to know about the Bank and its products through internet. 6) Types of Accounts of Preferred



% Type of Accounts Saving Account Current Account Fixed Deposit Total No. of Responses 86 23 35 144




(approx) 60% 16% 24%

Types of accounts of preferred customers

24% Saving Account Current Account 16% 60% Fixed Deposit

Figure 6 Figure 6 shows that 60% Preferred Customers are holding maximum Saving Account, followed by fixed Deposit 14% and only few of them have Current Account i.e.16%.

7) Reasons for using HDFC Banks Services


% Reasons Speedy Transactions Convenient Location Brand Image Customer Relations Reliable & Prompt Services Friends Reference Any Other Total or Family 20 0 135 15% 0% No. of Responses 40 15 5 21 34




(approx) 29% 11% 4% 16% 25%

Reasonsfor usingH F services DC

SpeedyTransactions Convenient Location 29% Brand Image 11% 16% 4% Reliable & Prom pt Services Friendsor Fam ily Reference Custom Relations er

15% 25%

Figure 7 Figure 7 shows that near about equal number of Preferred Customers (29%) have availed the services of HDFC Bank because of Speedy Transactions and 25% because of Reliable and Prompt services, whereas approx 16% of them because of the Customer Relations. 11% and 15% (approx) of Preferred Customers use the services of HDFC Bank because of Convenient Location and Friend and Family Reference. Approx 4% are using because of Brand Image.


8) Reason to be a Preferred Customer Reason to be a Preferred No. of Responses 22 26 4 10 7 41 56 0 166 % of Total


Customer Wide Range of Benefits Wide Coverage Tax Benefits Knowledge of customers needs to Bank Lower Cost Better Services More Facilities Any Other Total

(approx) 13% 16% 2% 6% 4% 25% 34% 0%

Reasonto be PreferredCustom er
Wide Range of Benefits 34% 13% 16% Tax Benefits 25% 4% 2% 6% Knowledge of customers needsto Bank Lower Cost Wide Coverage

Figure 8 Figure 8 shows that 34% respondents became the Preferred Customers of HDFC Bank because of more facilities provided by bank as compare to other.25% became preferred because of its better services. Where as 13% and 16% became the Preferred Customer because of its wide range of benefits and wide coverage respectively. Knowledge of customers needs to bank (6%), lower cost (4%) and Tax Benefit (2%) also induced the respondents to be the Preferred Customers of HDFC bank.


9) Knowledge about the special/detailed benefits of products and services being offered by the HDFC Bank Knowledge about the products and services Yes No Total No. of Respondents 49 51 100 % of Total Responses 49% 51%

K nowledg of detailed benefitsof e productsand services

Yes No

Figure 10 Figure 10 depicts that only 49% of respondents have knowledge about the products and services provided by HDFC Bank. Majority of customers i.e. 51% of respondents have not knowledge about the all benefits, products and services being offered by Bank.


10) To know about whether Relationship Manager gives information about services R.M. update you on latest No. of Respondents 86 14 100 % of Total latest products and

Products and Services Yes No Total

Responses 86% 14%

R.M. g ives inform ationabout latest productsand services

100 80 60 40 20 0 Yes No 14 No. of Respondents 86

Figure10 Figure 10 show that almost 86% of respondents believe that their R.M. updates them on latest Products and Services being offered by Bank. Only 14 respondents believe that his/her R.M. does not update on latest products and services.

11) Preferential Treatment


Comparison Yes No Total


normal No. of Responses 100 0 100

% 100% 0%



customers of the Bank


F yourself beingprefrentially eel treated


Yes No 100%

Figure 11 Figure 11 clearly shows that all the Preferred Customers (100%) feel that they are preferentially treated as compare to normal customers. 12)


12.1) Awareness of Direct Banking Channels

Awareness of Direct Banking Channels Yes No Total

No. of Responses 73 27 100

% of Total Respo 73% 27%

Awarenessof direct banking channels

Yes No



Figure 12.1 Figure 12.1 depicts that 73% of respondents are aware about Direct Banking Channels, whereas 27% of respondents are aware about Direct Banking Channels.


12.2) Usage of Direct Banking Channels

DBC Channels Net Banking Phone Banking Mobile Banking Insta Alert ATM Total

No. of Responses 20 44 5 12 77 158

% of No of Responses (approx) 13% 28% 3% 7% 49%

Usag of D e irect B ankingChannels

80 60 40 20 0 77 44 20 5 12 No. of Responses

Figure 12.2 Out of the total 158 responses received from respondents who use DBC, Figure 12.2 shows that maximum Preferred Customers use ATM as a Direct Banking Channel supported by 77 responses. 44 responses are in the favor of Phone Banking which is followed by Net Banking (20), Insta Alert (12) and least to the Mobile Banking (5).



Satisfaction level of Preferred Customers on

different parameters

Highly Parameters Time Involvement Satisfied 23 Satisfied 70 32 42 24 64 70 Indifferent 5 12 36 0 0 18

Dissatisfie d 2 42 6 1 0 0

Highly Dissatisfied 0 0 0 0 0 0

Documentation 14 Working Hours 16 Behavior of Staff 75 Competency of RM Brand Image 36 12

S atisfactionof P referredCustom ers fromTim Involvem e ent

80 60 40 23

70 Highly Satisfied Satisfied Indifferent Dissatisfied 5 Pa meters ra 2 0 Highly Dissatisfied

t d p s e r f . o N n

20 0

Figure 13.1 Figure 13.1 depicts that majority of the Preferred Customers 70 are satisfied from the time taken by the


bank for doing the work. Whereas 23 respondents are highly satisfied. No one is highly dissatisfied whereas 5 and 2 Preferred Customers are indifferent and dissatisfied from the time involvement parameters.

S atisfactionof PreferredCustom ers fromD ocum entation

50 40 30 20 14 12 32

42 Highly Satisfied Satisfied Indifferent Dissatisfied 0 Pa m ra eters Highly Dissatisfied

t e d n o p s r f . N

10 0

Figure 13.2 Figure 13.2 shows that a large number of respondents 42 are dissatisfied from documentation where as 14 and 32 Preferred Customers are highly satisfied and satisfied from the documentation. Whereas 12 Preferred Customers are indifferent towards documentation.


S atisfactionof PreferredCustom ers fromW orkingH ours

45 40 35 30 25 20 16 6 0 Pa meters ra 15 10 5 0 42 36 Highly Satisfied Satisfied Indifferent Dissatisfied Highly Dissatisfied

t d n p s e r f . o N

Figure 13.3 Figure 13.3 shows that majority of the Preferred Customers 42 are satisfied from the working hours of the bank followed by 36 Preferred Customers who are indifferent. And 16 and 6 respondents are highly satisfied and dissatisfied respectively and no one is highly dissatisfied from the working hours of the bank.

S atisfactionof PreferredCustom ers fromB ehavior of S taff

80 60 40 75 Highly Satisfied Satisfied 24 0 0 Pa meters ra 1 0 Indifferent Dissatisfied Highly Dissatisfied

t d n p s e r f . o N



Figure 13.4 Figure 13.4 makes it clear that maximum numbers of Preferred Customers are highly satisfied from the behavior of staff, followed by 24 people who are satisfied. And only 1 dissatisfied respondent and where as indifferent, highly dissatisfied from the behavior of staff is none.

S atisfactionof P referredCustom ers fromCom petencyof RM

80 60 40 36


Highly Satisfied Satisfied Indifferent Dissatisfied 0 2 0 Highly Dissatisfied

t d n p s e r f . o N

20 0

Pa meters ra

Figure 13.5 Figure 13.5 indicates that majority of Preferred Customers 64 are satisfied from the competency of RM. 34 of them are highly satisfied and 2 are dissatisfied.


S atisfactionof PreferredCustom ers fromB rand Im e ag

80 60 40 70 Highly Satisfied Satisfied Indifferent 12 18 0 P ra a meters 0 Dissatisfied Highly Dissatisfied

t d n p s e r f . o N

20 0

Figure 13.6 Figure 13.6 depicts that majority of the respondents 70 are satisfied with the brand image, whereas 12 are highly satisfied. Whereas 18 of them indifferent about the brand. So we can say that majority of the Preferred Customers have a very good opinion about the brand image of HDFC Bank. 14.1) Problem faced by Preferred Customers while using the Bank Services Problem Services Yes No Total while using the Bank No. of Responses 9 91 100 % of

Responses 9% 91%


Whether problemfacedwhile using B S ank ervices

9% Yes No 91%

Figure 14.1

14.2) faced?

Which of the following problems you have

Problems faced


of %




Responses Wrong Transaction 0 Delay in operations 1 Late credit of out station 3 cheques Misinformed 1 No response from Bank 4 Total 9

(approx) 0% 11% 33% 11% 45%


Problem facedbycustom s ers

4 4 3 3 2 1 1 Delayin operations Late credit of out station cheques Misinform ed 0 0 Pa meters ra No response from Bank WrongTransaction

n p s e r f . o N

Figure 14.2 Figure 14.1 and 14.2 shows that majority of the Preferred Customers (84%) have not faced any problem while using the Bank services. Only 16% of the Customers have faced the problems which are wrong transactions, delay in operations, late credit of outstation cheques and no response from the bank.

15) Bank assistance to preferred customers in case of problem? Bank assistance in case No. of respondents of problem Yes No Total 92 8 100 % of total responses 92% 8%


B assistanceto preferred ank custom tosolveproblem ers

8% Yes 92% No

Figure 15 As shown in figure 15, 92 respondents said that they got assistance from bank whenever they faced any problem and only 8 respondents feel that they didnt get the assistance when needed.



The concept of Preferred Customers is not too old for the Banking Industry. But due to increasing competition among Banks give a new direction to this


concept. The Preferred Customers are the most profitable customers of banks holding big account and money in Banks. One of the main objectives of our study is to study the satisfaction level of Preferred Customers of HDFC Bank regarding its products, services etc. and our conclusion highlights the reasons of the satisfaction of Preferred Customers backed by solid reasons developed from findings our research. Our research shows that majority of the Preferred Customers dealing only (54%) with HDFC Bank, 46% and 40% holding account for period 1-3 years and 3 or more years, induced by Bank Staff to be a Preferred Customers and bank. Out of total respondents only 16% Preferred Customers feel problems like wrong transactions, delay in operations etc. while 73% using Direct Banking Channels of HDFC Bank. All this reveals the highly satisfaction level of the Preferred Customers of HDFC Bank. However, the big satisfaction and their level can be judged from the problems faced and preferential treatment of Preferred Customers. Our research find out that 96% are satisfied by rate charges, only 40% are satisfied on their complete knowledge of banks different benefits, products and services. 86% Preferred Customers fully satisfied that their R.M. update them of latest information of Bank and every Preferred Customers feel that he is preferentially treated by the bank. The above facts clearly reveal that the Preferred Customers are not fully satisfied from the bank on the matter of knowledge of products and services but still attracted by speedy transactions and Reliable and Prompt services of the


prefer bank because of more facilities as compare to other banks, better services etc. In this research, I find that 84% Preferred Customers have no problem while using the Direct Banking Channels. So on the problem level almost every Preferred Customers is satisfied and for about problem every one believes that such will be removed by Bank soon. However, to judge the satisfaction level on other fronts, I laid down some parameters. The responses of such parameters are highly satisfying for the bank. I find that 70% of Preferred Customers are satisfied on the parameters of time involvement at transactions. Only 2% dissatisfied but 23% are highly satisfied too. Only 32% of Preferred Customers ranks satisfy on parameters of documentation. Although just 42% preferred Customers satisfy on parameters of working hours because 36% have indifferent on working hours parameters. On the Behavior of staff 75% of the Preferred Customers are highly satisfied. Competency of RM satisfy the 64% Preferred Customers, while 36% are highly satisfied. 70% Preferred Customers are satisfied by the Brand Image of HDFC Bank and 12% is highly satisfied on these parameters. Thus on the basis of all above an overview can be made that because of satisfying parameters and least problems the Preferred Customers of bank are satisfied. The satisfactions of Preferred Customers are bought by all the creative, co-operative man power of the Bank. INDIA IS ON THE THRESHOLD OF



This holds true as HDFC Bank is providing services efficiently and satisfying its customers. Employees of the bank are also well versed with its services and are very cooperative. We can there by conclude that HDFC Bank being the pioneer leaves no stone unturned to give its best to its customers and making banking pleasurable for them.

An organization is as good as the customers think. Todays customer is smart, well aware, intelligent and rational, who knows the value of time and he will like to have simple, hassle free, fast and accurate services from the bank. It is therefore, imperative for the bank not only to offer him quality services that are reliable and prompt but also to make him happy and satisfied. This chapter represents the suggestions which may prove helpful to the bank.

Separate cash counter for preferred


HDFC Bank needs to increase its space.


HDFC Bank needs to increase counters

because during the Peak hours there is heavy crowd in the Bank.

Some more products for farmers to be

introduced as 75% of profile consist of farmers.


Some brochures should be provided in language so that they can easily

understand different products, their benefits etc. and do not face any documentation problem.

Dear Sir/Madam I am a student of M.B.A. doing a project on Analysis of Preferred Customers of HDFC Bank LTD, Nakodar. Kindly give your 5 minutes me to help the Bank serve you better. Thank You 1) Occupation? 7) Business


8) Agriculture 9) Retired 10) Service Any other please specify 2) Tick the appropriate class of Income to which you belong? Income Level (in Rs.) Below Rs.4,00,000 p.a. Rs.4,00,000 - Rs.8,00,000 p.a. Rs.8,00,000 - Rs.12,00,000 p.a. Above Rs.12,00,000 p.a. 3) Is the HDFC Bank your Primary Bank? a. Yes b. No If No, Please Specify the name 4) For how long you are dealing with HDFC Bank? A. Less than 6 months B. 6 months 1 year C. 1 year 3 years D. above 3 years 5) How did you come to know about HDFC Bank and its products? A. Newspapers B. Magzines C. Television D. Agents E. Brochures F. Bank Staff G. Internet H. Friend and Family 6) Which accounts do you have with HDFC Bank of the following: A. Saving Account


B. Current Account C. Fixed Deposit 7) Tick the reasons for using the Services of HDFC Bank? A. Speedy Transactions. B. Convenient Location.. C. Brand Image D. Customer Relations E. Reliable & Prompt Services...... F. Friends or Family Reference..... G. Any Other.. 8) Tick the appropriate reason to be a Preferred Customer of HDFC Bank? Reasons a. b. c. d. e. f. g. Wide Range of Benefits Wide Coverage Tax Benefits Knowledge of customers needs to Bank Lower Cost Better Services More Facilities
9) Do you have appropriate knowledge about the

special benefits, products and services being offered by the HDFC Bank to its Preferred Customers? a. Yes b. No If Yes, do you find benefits being provided by bank to its preferred customers are really beneficial for you? a. Yes

b. No Bank? b. No

Does your R.M. update you on latest Products and Services being offered by a. Yes



Do you feel yourself being preferentially

treated as compare to the normal Customers of HDFC Bank? a. Yes 12) b. No

Are you aware about Direct Banking Channels? a. Yes b. No

If Yes, Which of the Direct Banking Channels do you use? A. B. C. D. E. 13) Net Banking Phone Banking Mobile Banking Insta Alert ATM

How will you rate the Bank on the following

parameters? Parameters Time Involvement Documentation Working Hours Behavior of Staff Competency of Staff Brand Image 14) Have you faced any problem while using a. Yes b. No Highly Satisfied Satisfied Indifferent Dissatisfie d Highly


the Bank Services?

If Yes, which of the following problems you have faced? a. Wrong Transaction b. Delay in operations c. Late credit of out station cheques d. Misinformed


e. No response from Bank f. 15. problem? a. Yes


Any Other

Does your bank assist you in case of any

b. No you have any further


demands/suggestions that you think should be taken care of by the bank?

(Demographic Profile) Name: Address:

Co ntact No. . Age :

Occupation: Date: Signature ( Thanks for your co-operation)


BIBLIOGRAPHY Marketing Research by Naresh K. Malhotra and Satyabhushan Dash

Marketing Management by Philip Kotler