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A SUMMER INTERNSHIP PROJECT on CUSTOMER SATISFACTION TOWARDS FINANCIAL PRODUCT AND SERVICES OF HDFC BANK by ARUNIMA SINGH (180012135219)

Submitted in partial fulfillment of the requirements of the degree of MASTERS IN BUSINESS ADMINISTRATION in FINANCE UNDER THE GUIDANCE OF AJAY KUMAR GUPTA (BRANCH MANAGER, HDFC ROBERTSGANJ)

DEPARTMENT OF BUSINESS ADMINISTRATION LUCKNOW UNIVERSITY

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ACKNOWLEDGEMENT

I take this opportunity to express my deep sense of gratitude, thanks and regards towards all of those who have directly or indirectly helped me in the successful completion of this project. I present my sincere thanks to Mr. AJAY KUMAR GUPTA (Branch Manager,Robertsganj) who allowed me to take training at HDFC BANK. I would also like to thank HDFC bank Staff for their wonderful support & inspirable guiding. I am grateful to all faculty members of university and my friends who have helped me in the successful completion of this project. Last but not the least I am indebted to my PARENTS who provided me their time, support and inspiration needed to prepare this report.

Date: -30-07-2019

Place: -Robertsganj

Signature:-

EXECUTIVE SUMMARY The report contains organizational study done at HDFC Bank. There is detailed description of all the products and services of HDFC Bank. The report topic is Financial products and services of HDFC Bank. The report gives an overview of banking sector and company profile and also awareness of customer about different type of product and services offered by HDFC Bank. On whole HDFC Bank is a good place to work at. Every new recruit is provided with extensive training on the products of HDFC Bank. Market research is a function that links the consumer, customer and public to the market through information. Information are used to identify and define marketing opportunities and problems, evaluate market actions, monitor marketing performance and improve understanding of marketing as process. Purpose of the study is to find out customers satisfaction, awareness and preference for HDFC bank product. Research objectives are: Customers sentiments on the various services provided by bank.  To measure the awareness level of people regarding banking services offered by bank  To evaluate overall satisfaction level of customers regarding services and products offered by the bank

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TABLE OF CONTENTS

SR.NO

PARTICULARS

PAGE NO

I

INTRODUCTION

06

1

ABOUT THE INDUSTRY

07

2

HISTORY OF BANKING

08

3

INDIAN BANKING SYSTEM

10

4

INTRODUCTION TO HDFC BANK

11

5

HISTORY OF HDFC BANK

13

6 7

MISSION – VISSION BUSINESS STRATEGY

14 14

8

BOARDSOF DIRECTORS

15

9 10

AWARDS INTEGRATED FINANCIAL SERVICES

18 22

11

BUSINESS SEGMNTS

23

II

PRODUCT AND SERVICES OF HDFC

25

12

ACCOUNTS & DEPOSITS

26

13 14

LOANS

15 16

INVESTMENTS INSURANCE

54 60

17 18

DEMAT A/C PREMIER BANKING

66 68

19

PAYMENT SERVICE

74

III

PRIMARY STUDY

79

20 21

INTRODUCTION RESEARCH OBJECTIVE

80 80

22

RESEARCH METHODOLOGY

80

23 24

SOURCE OF DATA DATA COLLECTION METHOD

81 81

25

DATA ANALYSIS AND INTERPRETATION

82

26 27 28 29

FINDINGS CONCLUSIONS LIMITATIONS REFRENCE BILBIOGRAPHY

101 102 102 103

30

APPENDIX (QUESTIONNAIRE)

104

CARDS

37 49

INTRODUCTION

ABOUT THE INDUSTRY

Meaning and definition: A bank is a financial institution that accepts deposits from public and creates credit. principal types of banking in modern industrial world is commercial banking & central banking. Banking can be defined as the business activity of accepting and safeguarding money owned by other individuals and then lending out this money in order to earn profit. A banker of a bank is a person ,a firm ,or a company engaged in the business of landing and accepting money. Conclusion of bank:    

Accept deposits of money from public. Pays interest on money deposited with it. Lend or invest money. Repays amount on demand.

ORIGIN OF THE WORD BANK After commerce and arts had revived in Italy, the business of banking was resumed. The world “Bank” is commonly regarded as derived from the Italian word banco, a bench- the Jews in Lombardy having benches in the market place for exchange of money and bills. BIRTH OF BANKING:

Banking is nearly as old as civilization. The history of banking could be said to have started with the appearance of money. The first record of minted metal coins was in Mesopotamia in about 2500B.C. the first European banknotes, which was handwritten appeared in1661, in Sweden. Cheque and printed paper money appeared in the 1700’s and 1800’s, with many banks created to deal with increasing trade.

The history of banking in each country runs in lines with the development of trade and industry, and with the level of political confidence and stability. The ancient Romans developed an advanced banking system to serve their vast trade network, which extended throughout Europe, Asia and Africa.

HISTORY OF BANKING Banking is nearly as old as civilization. The history of banking could be said to have started with the appearance of money. The first record of minted metal coins was in Mesopotamia in about 2500B.C. the first European banknotes, which was handwritten appeared in1661, in Sweden. cheque and printed paper money appeared in the 1700’s and 1800’s, with many banks created to deal with increasing trade.

The history of banking in each country runs in lines with the development of trade and industry, and with the level of political confidence and stability. The ancient Romans developed an advanced banking system to serve their vast trade network, which extended throughout Europe, Asia and Africa.

Modern banking began in Venice. The word bank comes from the Italian word “ban co”, meaning bench, because moneylenders worked on benches in market places. The bank of Venice was established in 1171 to help the government raise finance for a war.

At the same time, in England merchant started to ask goldsmiths to hold gold and silver in their safes in return for a fee. Receipts given to the Merchant were sometimes used to buy or sell, with the metal itself staying under lock and key. The goldsmith realized that they could lend out some of the gold and silver that they had and charge interest, as not all of the merchants would ask for

the gold and silver back at the same time. Eventually, instead of charging the merchants, the goldsmiths paid them to deposit their gold and silver.

The bank of England was formed in 1694 to borrow money from the public for the government to finance the war of Augsburg against France. By 1709, goldsmith were using bank of England notes of their own receipts.

New technology transformed the banking industry in the 1900’s round the world, banks merged into larger and fewer groups and expanded into other country.

INDIAN BANKING SYSTEM

Reserve Bank of India

Schedule Banks Non-Schedule Banks

State co-op Banks

Central co-op Banks and Primary Cr. Societies

Commercial Banks

Indian

Public Sector Banks

Commercial Banks

Foreign

Private Sector Banks

HDFC, ICICI etc.

State Bank of India and its Subsidiaries

Other Nationalized Banks

Regional Rural Banks

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INTRODUCTION (HDFC BANK) 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. 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 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.

HDFC Bank Limited (the Bank) is an India-based banking company engaged in providing a range of banking and financial services, including commercial banking and treasury operations. The Bank has a network of 4014 branches and 11766 automated teller machines (ATMs) and total employees is 76286.

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We understand your world

Type

Public

Traded as

BSE: 500180 NSE: HDFCBANK NYSE: HDB BSE SENSEX Constituent CNX Nifty Constituent

Industry

Banking, financial services

Founded

August 1994; 24 years ago

Headquarters

Mumbai, Maharashtra, India

Area served

India

Key people

Shyamala Gopinath (Non-Exe Chairperson)[1]

Aditya Puri (Managing Director)[2][3]

Products

Credit cards, consumer banking, banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, wealth management[4]

Revenue

₹116,597 crore (US$17 billion) (2019)[5]

Operating income

₹23,263 crore (US$3.4 billion) (2019)[5]

Net income

₹21,078 crore (US$3.0 billion) (2019)[5]

Total assets

₹1,189,432 crore(US$170 billion) (2019)[6]

Number of employees

104,154 (June 30, 2019)[7]

HISTORY OF HDFC BANK HDFC BANK LTD 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.

If ever there was a man with a mission it was Hasmukhbhai Parekh, Founder and ChairmanEmeritus, of HDFC Group. HDFC BANK LTD was amongst the first 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.It 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 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 In a milestone transaction in the Indian banking industry, Times Bank was merged with HDFC Bank Ltd., effective February 26, 2000.

MISSION I.

World Class Indian Bank

II.

Benchmarking against international standards.

III.

To build sound customer franchises across distinct businesses

IV.

Best practices in terms of product offerings, technology, service levels, risk management and audit & compliance

VISION STATEMENT OF HDFC BANK The HDFC Bank is committed to maintain the highest level of ethical standards, professional integrity and regulatory compliance. HDFC Bank’s business philosophy is based on four core values such as:1. Operational excellence. 2. Customer Focus. 3. Product leadership. 4. People. The objective of the HDFC Bank is to provide its target market customers a full range of financial products and banking services, giving the customer a one-step window for all his/her requirements. The HDFC Bank plus and the investment advisory services programs have been designed keeping in mind needs of customers who seeks distinct financial solutions, information and advice on various investment avenues.

BUSINESS STRATEGY I.

Increasing market share in India’s expanding banking

II.

Delivering high quality customer service

III.

Maintaining current high standards for asset quality through disciplined credit risk management

IV.

Develop innovative products and services that attract targeted customers and address inefficiencies in the Indian financial sector.

BOARD OF DIRECTORS Sr. No.

Name of Director

Designation

1

Mrs. Shyamala Gopinath

Part Time Non- Executive Chairperson and Independent Director

2

Mr. Malay Patel

Independent Director

3

Mr. Umesh Chandra Sarangi

Independent Director

4

Mr. Keki Mistry

Non Executive Director

5

Mr. Srikanth Nadhamuni

Non-Executive Director

6

Mr. Sanjiv Sachar

Additional Independent Director

7

Mr. Sandeep Parekh

Additional Independent Director

8

Mr. MD Ranganath

Additional Independent Director

9

Mr. Aditya Puri

Managing Director

10

Mr. Kaizad Bharucha

Executive Director

SENIOR MANAGEMENT TEAM Aditya Puri

Managing Director

Kaizad Bharucha

Executive Director

Abhay Aima

Group Head - Equities, Private Banking, Third Party Products, NRI & International Consumer Business

Arvind Kapil

Group Head - Unsecured Loans, Home, and Mortgage Loans

Arvind Vohra

Group Head, Retail Branch Banking at HDFC Bank

Ashima Bhat

Group Head - Finance, Administration & Infrastructure

Ashish Parthasarthy

Treasurer

Ashok Khanna

Group Head- Vehicle Loans

Benjamin Frank Group Head - Wholesale Credit Bhavesh Zaveri

Country Head - Wholesale Banking Operations and Cash Management Products

Chakrapani V

Country Head - Internal Audit and Quality Initiatives Group

Jimmy Tata

Chief Risk Officer

Munish Mittal

Chief Information Officer

Nirav Shah

Country Head - Emerging Corporates Group, Infrastructure Finance Group & Rural Banking Group

Nitin Chugh

Country Head - Digital Banking

Parag Rao

Country Head - Card Payment Products, Merchant Acquiring Services and Marketing

Rajesh Kumar

Group Head - Retail Credit and Risk

Rakesh Singh

Group Head - Investment Banking, Private Banking, Capital Markets, and Financial Institutions at HDFC Bank.

Rahul Shukla

Group Head - Corporate Banking & Business Banking at HDFC Bank

Sashi Jagdhishan Chief Financial Officer Smita Bhagat

Country Head - Government and Institutional Business, e-Commerce and Start-ups

Srinivasan Vaidyanathan

Group Head - Finance

S Sampathkumar

Group Head - Liability Products, Third Party Products, and Non-Resident Business

Vinay Razdan

Chief Human Resources Officer (CHRO)

AWARDS AND ACHIEVEMENTS 2019 BrandZ Top 100 HDFC Bank featured for the fifth time in the BrandZ's Top 100 Most Valuable Global Global Brands List Brands 2019 Governance Now BFSI Awards 2019.

-Digital Bank -Tech Trendsetter

Businessworld Magna -Best Large Bank Awards 2019 -Fastest Growing Large Bank - Runner up American Indian Foundation

Aditya Puri honoured for corporate and philanthropic leadership

Express Computer BFSI Digital Innovation Awards 2019.

Leadership Award for Outstanding Initiatives in Big Data / Analytics Artificial Intelligence Enterprise Applications

The Banker Bank of the Year Awards 2018

Bank of the Year - India

The Banker Global Private Banking Awards 2018.

Best Private Bank in India

Mint - EY Emerging Technology Awards

Winner - Robotic Process Automation (Software) category.

Forbes' World's Best Banks report

No. 1 Bank in India - HDFC Bank

Euromoney Trade Finance Survey 2019

Best Service (Asian Banks only) - India Market Leader (Asian Banks only) - India

The Financial Express India's Best

Best Bank - New Private Sector category

Banks Awards 201718 FE CFO Awards 2019 Best CFO / Newsmaker of the Year Asiamoney Best Bank Best Digital Bank (India) Awards 2019 AIMA-JRD Tata Corporate Leadership Award 2018

HDFC Bank MD Mr. Aditya Puri has been conferred the AIMAJRD Tata Corporate Leadership Award for the Year 2018

Outlook Money Awards 2019

Best Private Sector Bank Award - Gold

IDC Financial Insights Innovation Awards (FIIA) 2019

Asia's Most Secure Bank

Dun & Bradstreet BFSI Awards 2019

India's Leading Bank - Private Sector

Euromoney Private Banking and Wealth Management Survey 2019

No. 1 in Asset Management category

Business Today KPMG India's Best Bank Awards 2019

- Bank of the Year - HDFC Bank and SBI Best Large Bank - HDFC Bank

FE Best Bank Awards Best Bank: New Private Sector

We understand your world

Type

Public

Traded as

BSE: 500180 NSE: HDFCBANK NYSE: HDB BSE SENSEX Constituent CNX Nifty Constituent

Industry

Banking, financial services

Founded

August 1994; 24 years ago

Headquarters

Mumbai, Maharashtra, India

Area served