1

A

Project Report

On

“A Study to know the Banking Behavior and Preference of

Corporate Customers of Prahalad Nagar area towards

Corporate Banking”

At

“Kotak Mahindra Bank”

Submitted By

Prashant J. Barvaliya (148070592062)

Dhwani M. Thakar (148070592076)

Guided By

Prof. Nilesh Patel.

In Practical Fulfillment of

Masters of Business Administration

Degree Affiliated To Gujarat Technological University

SAL Institute of Management

Batch 2014 - 2016

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PREFACE

The project report is accompanied with practical experience to add some

worthiness to education. This practical training in MBA program

develops core competencies of business world. Thus, we have a practical

outlook of the managerial experts and witness the function of

management in real business.

My work in this project is, therefore, a humble attempt towards this end.

In spite of my best efforts, there may be errors or omissions, which may

please be excused.

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DECLARATION

We, Prashant J. Barvaliya enrolment no.148070592062 & Dhwanee M. Thakar

enrolment no.148070592076, students of SAL institute of management hereby declare

that we have successfully completed this project ― To know banking behavior and

preference of corporate customers of prahalad nagar area towards corporate banking‖

in the academic year 2014-15.

Here we declare that this work is done by us and to the best of our knowledge; no

such work has been submitted by any other person for the award of degree or

diploma.

We also declare that all the information collected from various secondary and primary

sources has been duly acknowledged in this project report.

Date: -

Place: Ahmadabad Signature

(1) Prashant Barvaliya

_____________________

(2) Dhwani Thakar

_______________________

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ACKNOWLEDGEMENT

I am using this opportunity to express my gratitude to everyone who supported me

throughout the course of this MBA project. I am thankful for their aspiring guidance,

invaluably constructive criticism and friendly advice during the project work. I am

sincerely grateful to them for sharing their truthful and illuminating views on a

number of issues related to the project.

I express my warm thanks to Mr. Biren shah and for their support and guidance at

KOTAK MAHINDRA BANK.

I would like to thank Sal Institute of management for giving me this opportunity and I

would like thank Dr. Viral Bhatt the director of this institute for providing this

platform.

I would also like to thank my project internal guide Prof. Nilesh Patel and all the

people who provided me with the facilities being required and conductive conditions

for my MBA project.

Thank you,

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Chapter – 1 Executive Summary

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This report provides an analysis and evaluation of the study to know the banking

behavior and preferences of corporate customers toward different bank as per the

requirement of KOTAK Mahindra bank.

Methods of analysis include primary survey of the corporate customer with the help

of questioner other calculation is done with the help of SPSS software in which cross

tabulation is used for multiple choice questions.

To study the banking behavior of corporate customers, selected samples are taken

with help of convenient sampling of non – probability sampling method.

In this study we have applied one way ANOVA to understand the preference of

corporate customers of Prahalad Nagar area.

According to study most of the customers are associated with the private sector banks.

Hence we have found out the most important reasons for choosing the private sector

bank rather than public sector bank.

Recommendations have taken from corporate customers to improve the banking

services.

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1. History of Banking Sector

2. Phases of Indian Banking System

3. Products of Banking Industry

4. Types of Bank

5. Banking in India

6. Porter‘s Five Forces

7. New Developments in Banking Sector

8. Current Scenario of Indian Banking Industry

9. Major Challenges in Banking Sector

10. PEST Analysis

Chapter – 2

Industry Profile

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A bank is a financial intermediary and money creator that create money by lending

money to a borrower, thereby creating a corresponding deposit on the bank's balance

sheet. The origins of modern banking can be traced to medieval and

early Renaissance Italy, to the rich cities in the north

like Florence, Lucca, Siena, Venice and Genoa. The Bardi and Peruzzi families

dominated banking in 14th century Florence, establishing branches in many other

parts of Europe.

Banking in India in the modern sense originated in the last decades of the 18th

century. Among the first banks were the Bank of Hindustan, which was established in

1770 and liquidated in 1829-32; and the General Bank of India, established 1786 but

failed in 1791.

Modern banking practices, including fractional reserve banking and the issue

of banknotes, emerged in the 17th and 18th centuries. Merchants started to store their

gold with the goldsmiths of London, who possessed private vaults, and charged a fee

for that service. In exchange for each deposit of precious metal, the goldsmiths

issued receipts certifying the quantity and purity of the metal they held as a bailey;

these receipts could not be assigned; only the original depositor could collect the

stored goods.

The three banks were merged in 1921 to form the Imperial Bank of India, which upon

India's independence, became the State Bank of India in 1955. For many years the

presidency banks had acted as quasi-central banks, as did their successors, until the

Reserve Bank of India was established in 1935, under the Reserve Bank of India Act,

1934.

In 1960, the State Banks of India was given control of eight state-associated banks

under the State Bank of India (Subsidiary Banks) Act, 1959. These are now called its

associate banks. In 1969 the Indian government nationalized 14 major private banks.

In 1980, 6 more private banks were nationalized. These nationalized banks are the

majority of lenders in the Indian economy. They dominate the banking sector because

of their large size and widespread networks.

1. HISTORY OF BANKING SECTOR

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Generally banking in India was fairly mature in terms of supply, product range and

reach-even though reach in rural India and to the poor still remains a challenge. The

government has developed initiatives to address this through the State Bank of India

expanding its branch network and through the National Bank for Agriculture and

Rural Development with things like microfinance.

1.1 ORIGIN OF THE WORD

The word bank was borrowed in Middle English from Middle French banque, from

Old Italian banca, from Old High German banc, bank "bench, counter". Benches were

used as desks or exchange counters during the Renaissance by Florentine bankers,

who used to make their transactions atop desks covered by green tablecloths.

2.1 PHASE I

The Bank of India was set up in the year 1786. Next came Bank of Hindustan and

Bengal Bank. The East India Company established Bank of Bengal (1806), Bank of

Bombay (1840) and Bank of Madras (1843) as independent units and called them

Presidency Banks. These three banks were amalgamated m 1921 and imperial Bank

of India was established which started as private shareholders banks, mostly

Europeans shareholders.

In 1865 Allahabad Bank was established and first time exclusively by Indians, Punjab

National Bank Ltd. was set up in 1894 with headquarters at Lahore. Between 1885

and 1913, Bank of India Central Bank of India, Bank of Baroda, Canara Bank, Indian

Bank, and Bank of Mysore were set up Reserve Bank of India came in 1935.

During the first phase the growth was very slow and banks also experienced periodic

failures between 1913 and 1948. There were approximately 1100 banks, mostly small.

To streamline the functioning and activities of commercial banks, the Government of

India came up with the Banking Companies Act, 1949 which was later changed to

Banking Regulation Act, 1949 as per amending Act of 1965 (Act No. 23 of 1965).

Reserve Bank of India was vested with extensive power for the supervision of

banking in India as the Central Banking Authority.

2. PHASES OF INDIAN BANKING SYSTEM

3.

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During those day‘s public has lesser confidence in the banks. As an aftermath deposit

mobilization was slow. Abreast of it the savings bank facility provided by the Postal

department was comparatively safer. Moreover, funds were largely given to traders.

2.2 PHASE II

Government took major steps in the Indian Banking Sector Reform after

independence. In 1955, it nationalized Imperial Bank of India with extensive banking

facilities on a large scale especially in rural and semi urban areas. It formed State

Bank of India to act as the principal agent of RBI and to handle banking transactions

of the Union and State Governments all over the country.

Seven banks forming subsidiary of State Bank of India were nationalized on 19th July

1959. In 1969, major process of nationalization was carried out. It was the effort of

the then Prime Minister of India, Mrs. Indira Gandhi 14 major commercial banks in

the country was nationalized.

Second phase of nationalization in Indian Banking Sector Reform was carried out in

1980 with six more banks. This step brought 80% of the banking segment in India

under Government ownership.

The following are the steps taken by the Government of India to Regulate Banking

Institutions in the country.

1949: Enactment of Banking Regulation Act.

1955: Nationalisation of State Bank of India.

1959: Nationalisation of SBI subsidiaries.

1961: Insurance cover extended to deposits.

1969: Nationalisation of 14 major banks.

1971: Creation of credit guarantee corporation.

1975: Creation of regional rural banks.

1980: Nationalisation of 6 banks with deposits over 200 crore.

After the nationalisation the branches of the public sector banks in India rose to

approximately 800% and deposits and advances took a huge jump by 11,000%.

Banking in the sunshine of Government ownership gave the public implicit faith and

immense confidence about the sustainability of these institutions.

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2.3 PHASE III

This phase has introduced many more products and facilities in the banking sector in

its reforms measure. In 1991, under the chairmanship of M Narasimham, a committee

was setup by his name which worked for the liberalisation of banking practices.

The country is flooded with foreign banks and their ATM stations. Efforts are being

made 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.

The financial system of India has shown a great deal of resilience. It is sheltered from

any crisis triggered by any external macro-economic shock as other East Asian

Countries suffered. This is all due to a flexible exchange rate regime, the foreign

reserves are high, the capital account is not yet fully convertible, and banks and their

customers have limited foreign exchange exposure.

3.1 RETAIL BANKING PRODUCTS

Retail banking is the provision of services by a bank to individual consumers, rather

than to companies, corporations or other banks.

3.1.1 Savings account

Saving accounts are accounts maintained by retail financial institutions that pay

interest but cannot be used directly as money in the narrow sense of a medium of

exchange (for example, by writing a cheque). These accounts let customers set aside a

portion of their liquid assets while earning a monetary return.

3.1.2 Money market account

A money market account (MMA) or money market deposit account (MMDA) is a

non-financial account that pays interest based on current interest rates in the money

markets.

Money market accounts typically have a relatively high rate of interest and require a

higher minimum balance to earn interest or avoid monthly fees.

3. PRODUCTS OF BANKING INDUSTRY

4.

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3.1.3 Certificate of Deposit

A savings certificate entitling the bearer to receive interest. A CD bears a maturity

date, a specified fixed interest rate and can be issued in any denomination. CDs are

generally issued by commercial banks and are insured by the FDIC. The term of a CD

generally ranges from one month to five years.

3.1.4 Individual retirement account (IRA)

An Individual Retirement Account or IRA, is a form of "individual retirement plan"

provided by many financial institutions, that provides tax advantages for retirement

savings.

3.1.5 Credit card

A credit card is a payment card issued to users as a system of payment. It allows the

cardholder to pay for goods and services based on the holder's promise to pay for

them.

3.1.6 Debit card

A debit card is a plastic payment card that provides the cardholder electronic access to

their bank account(s) at a financial institution. Some cards may bear a stored value

with which a payment is made, while most relay a message to the cardholder's bank to

withdraw funds from a payer's designated bank account. The card, where accepted,

can be used instead of cash when making purchases.

3.1.7 Mortgage

A mortgage loan, also referred to as a mortgage, is used by purchasers of real property

to raise capital to buy real estate; or by existing property owners to raise funds for any

purpose while putting a lien on the property being mortgaged.

3.1.8 Mutual fund

A mutual fund is a type of professionally managed investment fund that pools money

from many investors to purchase securities. While there is no legal definition of the

term "mutual fund", it is most commonly applied only to those collective investment

vehicles that are regulated and sold to the general public.

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3.1.9 Personal loan

A personal loan is a smaller loan than a mortgage and is generally used to finance a

car or other vehicle, renovations to a home, consolidation of debt, to finance a

vacation of one kind or another, and a great number of other things.

3.1.10 Time deposits

A time deposit is an interest-bearing deposit held by a bank or financial institution for

a fixed term whereby the depositor can only withdraw the funds after giving notice.

3.1.11 ATM card

An ATM card is any payment card issued by a financial institution that enables a

customer to access an automated teller machine (ATM) in order to perform

transactions such as deposits, cash withdrawals, obtaining account information, etc.

3.1.12 Cheque Book

A book of cheques with your name printed on them that is given to you by your bank

to make payments.

3.2 BUSINESS (OR COMMERCIAL/INVESTMENT) BANKING

3.2.1 Current Accounts

A current account is a type of deposit account that caters to professionals and

businessmen alike. Dealing largely with liquid deposits, this product allows for

withdrawal of funds and checks being written against the balance and does not limit

the number of transactions in a day.

3.2.2 Business loan

Businesses require an adequate amount of capital to fund startup expenses or pay for

expansions. As such, companies take out business loans to gain the financial

assistance they need. A business loan is debt that the company is obligated to repay

according to the loan‘s terms and conditions.

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3.2.3 Capital raising (Equity / Debt / Hybrids)

Equity

In an accounting context, shareholders' equity (or stockholders' equity,

shareholders' funds, shareholders' capital or similar terms) represents the equity

of a company as divided among individual shareholders of common or preferred

stock. Negative shareholders' equity is often referred to as a (positive)

shareholders' deficit.

Debt

Debt capital is the capital that a business raises by taking out a loan. It is a loan

made to a company that is normally repaid at some future date.

Preference Share

Preferred stock is a type of stock which may have any combination of features

not possessed by common stock including properties of both equity and a debt

instrument, and is generally considered a hybrid instrument.

3.2.4 Mezzanine finance

Mezzanine financing is basically debt capital that gives the lender the rights to

convert to an ownership or equity interest in the company if the loan is not paid back

in time and in full. It is generally subordinated to debt provided by senior lenders such

as banks and venture capital companies.

3.2.5 Project finance

Project finance is the long-term financing of infrastructure and industrial projects

based upon the projected cash flows of the project rather than the balance sheets of its

sponsors. Usually, a project financing structure involves a number of equity investors,

known as 'sponsors', as well as a 'syndicate' of banks or other lending institutions that

provide loans to the operation.

3.2.6 Revolving credit

Revolving credit is a type of credit that does not have a fixed number of payments, in

contrast to installment credit. Credit cards are an example of revolving credit used by

consumers. Corporate revolving credit facilities are typically used to provide liquidity

for a company's day-to-day operations.

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3.2.7 Long Term loan

A type of loan that has an extended time period for repayment usually lasting between

three and 30 years. Car loans and home mortgages are examples of long-term loans.

3.2.8 Cash Management Services (Lock box, Remote Deposit Capture,

Merchant Processing)

Cash management is the stewardship or proper use of an entity‘s cash resources. It

serves as the means to keep an organization functioning by making the best use of

cash or liquid resources of the organization.

4.1 Commercial Banks

Banking means accepting deposits of money from the public for the purpose of

lending or investment. Commercial Banks provide financial services to businesses,

including credit and debit cards, bank accounts, deposits and loans, and secured and

unsecured loans. Due to deregulation, commercial banks are also competing more

with investment banks in money market operations, bond underwriting, and financial

advisory work. Commercial banks in modern capitalist societies act as financial

intermediaries, raising funds from depositors and lending the same funds to

borrowers. The depositors‘ claims against the bank, their deposits, are liquid, meaning

banks are expected to redeem deposits on demand, instantly.

Banks‘ claims against their borrowers are much less liquid, giving borrowers a much

longer span of time to repay money owed banks. Because a bank cannot immediately

reclaim money lent to borrowers, it may face bankruptcy if all its depositors show up

on a given day to withdraw all their money.

4.2 Retail Banks

Retail banks provide basic banking services to individual consumers. Examples

include savings banks, savings and loan associations, and recurring and fixed

deposits. Products and services include safe deposit boxes, checking and savings

accounting, certificates of deposit (CDs), mortgages, personal, consumer and car

loans.

4. TYPES OF BANK

5.

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4.3 Public Sector Banks

Public sectors banks are those in which the government has a major stake and they

usually need to emphasize on social objectives than on profitability.

4.4 Cooperative Banks

Cooperative Banks are governed by the provisions of State Cooperative Societies Act

and meant essentially for providing cheap credit to their members. It is an important

source of rural credit i.e., agricultural financing in India.

4.5 Community banks

Locally operated financial institutions that empower employees to make local

decisions to serve their customers and the partners.

4.6 Community development banks

Regulated banks that provide financial services and credit to under-served markets or

populations.

4.7 Land development banks

The special banks providing Long Term Loans are called Land Development Banks,

in the short, LDB. The history of LDB is quite old. The first LDB was started at Jhang

in Punjab in 1920. The main objective of the LDBs is to promote the development of

land, agriculture and increase the agricultural production. The LDBs provide long-

term finance to members directly through their branches.

4.8 Credit unions or Co-operative Banks

Not-for-profit cooperatives owned by the depositors and often offering rates more

favorable than for-profit banks. Typically, membership is restricted to employees of a

particular company, residents of a defined area, members of a certain union or

religious organizations, and their immediate families.

4.9 Postal savings banks:

savings banks associated with national postal systems.

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4.10 Private Banks

Banks that manage the assets of high-net-worth individuals. Historically a minimum

of USD 1 million was required to open an account, however, over the last years many

private banks have lowered their entry hurdles to USD 250,000 for private investors.

4.11 Offshore banks

Banks located in jurisdictions with low taxation and regulation. Many offshore banks

are essentially private banks.

4.12 Specialized Banks

Specialized banks are foreign exchange banks, industrial banks, development banks,

export-import banks catering to specific needs of these unique activities. These banks

provide financial aid to industries, heavy turnkey projects and foreign trade.

4.13 Central Banks

Central banks are bankers‘ banks, and these banks trace their history from the Bank of

England. They guarantee stable monetary and financial policy from country to

country and play an important role in the economy of the country.

Typical functions include implementing monetary policy, managing foreign exchange

and gold reserves, making decisions regarding official interest rates, acting as banker

to the government and other banks, and regulating and supervising the banking

industry.

4.14 Savings bank

In Europe, savings banks took their roots in the 19th or sometimes even in the 18th

century. Their original objective was to provide easily accessible savings products to

all strata of the population. In some countries, savings banks were created on public

initiative; in others, socially committed individuals created foundations to put in place

the necessary infrastructure.

Nowadays, European savings banks have kept their focus on retail banking:

payments, savings products, credits and insurances for individuals or small and

medium-sized enterprises. Apart from this retail focus, they also differ from

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commercial banks by their broadly decentralized distribution network, providing local

and regional outreach—and by their socially responsible approach to business and

society.

4.15 Merchant banks

Merchant banks were traditionally banks which engaged in trade finance. The modern

definition, however, refers to banks which provide capital to firms in the form of

shares rather than loans. Unlike venture caps, they tend not to invest in new

companies.

4.16 Universal banks,

Universal banks, more commonly known as financial services companies, engage in

several of these activities. These big banks are much diversified groups that, among

other services, also distribute insurance— hence the term bank assurance,

a portmanteau word combining "banque or bank" and "assurance", signifying that

both banking and insurance are provided by the same corporate entity.

4.17 Islamic banks

Islamic banks adhere to the concepts of Islamic law. This form of banking revolves

around several well-established principles based on Islamic canons. All banking

activities must avoid interest, a concept that is forbidden in Islam. Instead, the bank

earns profit and fees on the financing facilities that it extends to customers.

In the modern sense originated in the last decades of the 18th century. Among the first

banks were the Bank of Hindustan, which was established in 1770 and liquidated in

1829-32; and the General Bank of India, established 1786 but failed in 1791.

The largest bank, and the oldest still in existence, is the State Bank of India. It

originated as the Bank of Calcutta in June 1806. In 1809, it was renamed as the Bank

of Bengal. This was one of the three banks funded by a presidency government, the

other two were the Bank of Bombay and the Bank of Madras. The three banks were

merged in 1921 to form the Imperial Bank of India, which upon India's independence,

became the State Bank of India in 1955. For many years the presidency banks had

5. BANKING IN INDIA

6.

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acted as quasi-central banks, as did their successors, until the Reserve Bank of India

was established in 1935, under the Reserve Bank of India Act, 1934

5.1 NATIONALIZES BANKS IN INDIA

1. Allahabad Bank

2. Andhra Bank

3. Bank of Baroda

4. Bank of India

5. Bank of Maharashtra

6. Canara Bank

7. Central Bank of India

8. Corporation Bank

9. Dena Bank

10. Indian Bank

11. Indian Overseas Bank

12. Oriental Bank of Commerce

13. Punjab & Sind Bank

14. Punjab National Bank

15. Syndicate Bank

16. UCO Bank

17. Union Bank of India

18. United Bank of India

19. Vijaya Bank

5.2 NEW PRIVATE SECTOR BANKS

• ICICI Bank

• IDBI Bank

• HDFC Bank

• Axis Bank

• Kotak Mahindra Bank

• IndusInd Bank

• Development Credit Bank

• Yes Bank

Porter‘s Five forces Model determine long – term profitability & is a reality check to

see if an industry is attractive enough to enter or not. If all of those forces are high

then the industry is less favorable to enter. Before entering an industry one check

whether those forces is low, so it‘s favorable for the firm to enter.

6. PORTER’S FIVE FORCES

7.

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1. Power of Buyer: -

Customer‘s bargaining power is high because banks provide homogenous kind of

services and customer can get all information very easily. So, the switching cost

is LOW for the customer.

2. Power of Supplier: -

In the banking industry, supplier‘s bargaining power is LOW because banks have

to meet many regulatory criteria, made by RBI.

3. Competitive Rivalry: -

Competition in the banking industry is very HIGH because of large number of

public, private, foreign and co – operative banks.

4. Availability of Substitutes: -

There is HIGH threat from substitutes such as mutual funds, T – Bills,

Government securities and NBFC‘s.

5. Threat of new entrant: -

Banking regulations require the approval of the regulator RBI before setting up a

new bank. So, the threat of new entrants is LOW in the banking sector.

Figure 1: - Porter’s five Forces

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1. Drive-to-digital: No trend has impacted the financial services industry as much or

as quickly as the drive-to-digital. In fact, according to two recent reports

from Accenture, 35% of banks‘ market share in North America could be in play

by 2020 as traditional branch banking gives way to new digital

players. Moven CEO and best-selling author Brett King says, ―In 2014, we‘ll see

greater experimentation in new products and revenue around mobile, web and

social channels.‖

2. Payment disruption: It is virtually impossible to keep track of the new players

hoping to disrupt the payments marketplace. With so many steps and interactions

in a normal person-to-person (P2P) or retail payments process, there is no

shortage of players trying to grab a piece of the payments pie. Of greater

consequence than the loss of steps in the payments process to non-traditional

players is the potential of losing the insight connected with payments transactions.

This is the ―crown jewel‖ of payments activity.

3. Increased non-bank competition: In 2014, the trusted role of banks and credit

unions as the collector of funds, provider of loans, processor of payments and

advisor of financial relationships will continue to come under fire from non-

traditional players including new financial organizations (neobanks), hardware

providers, third party payment processors, and mobile app developers that

merchants and consumers are using to chip away at the traditional financial

services model.

Finovate founder Jim Bruene predicts, ―The alt-lending sector will begin to be

viewed as a serious competitive threat to mainstream lenders with an outside

threat that one or more financial institutions will begin to offer P2P lending

services of their own.‖

4. Branch optimization: Current branch-based distribution models are no longer

sustainable and are unable to meet the rapidly evolving customer needs for real

time access and simplicity in banking interactions. While branchless banking is

definitely a ways off, less-branch banking will begin to emerge in 2014. ―Banks

will begin to figure out how to achieve ‗perceived convenience‘ much less

expensively than in the past,‖ says Novantas managing director Sherief Meleis.

7. NEW DEVELOPMENT IN BANKING SECTOR

8.

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5. Focus on customer 3.0: Customer 3.0 is digitally connected, highly informed and

demands a highly personalized approach in his or her communications, products

and service. Instead of walking into a local branch office and sitting down to open

an account during banking hours, these customers purchase their banking services

much like they purchase music, books or other products . . . online, 24/7.

The frame of reference for these customers is not other financial institutions, but

the best digital retailers and social marketers. Those banks with a mobile-first

strategy are the strongest competitors for these customers. ―When implementing a

mobile-first strategy for digital consumers, banks will need to be sure to include

the same service fundamentals that were found in branches,‖ says Wade Arnold,

founder and CEO of Banno.

6. Breaking down silos: In order to manage customer information more effectively,

banks will begin to eliminate both human and data silos by integrating data,

systems and processes across different product lines. Data will be shared and

leveraged in real-time on all of the bank‘s touch points, allowing banks to provide

more personalized service based on a complete customer profile.

―In 2014, we‘ll start seeing banking examples of cross-channel experiences,

driven by insights and powered by channel analytics,‖ said Danny Tang,

worldwide financial transformation leader at IBM. ―The leaders in the industry

will eliminate silos, starting the convergence of mobile and online banking and

building a linkage between the digital and physical channels.‖

7. Engagement: At a time when everything around us is becoming more complex,

consumers are searching out those products and companies that can simplify our

lives. But it‘s important to recognize that simplifying an interaction with

customers does not mean that the underlying product or service is simple. Instead,

the key is to rethink as opposed to append and look for ways to eliminate steps,

paperwork and processes that overly complicate.

8. In 2014, financial institutions will begin to realize that simplicity is mutually

beneficial to both customers and the organizations. Not only will those firms that

simplify see improved trust and loyalty, they will also realize savings from

redundant and outdated processes, reduced customer inquiries and fewer refunds

and reversals. As Jin Zwicky, vice president of experience design at

Singapore‘s OCBC Bank, told me, ―Simplicity is the ‗forever black,‘‖ meaning

that simplicity is a standard that always works and is in fashion.

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9. Improving contextual experiences: According to Aite Group senior analyst, Ron

Shevlin, a new type of marketing will emerge in 2014 – activity-based

marketing – or marketing within the context of an activity being performed by a

customer or prospect. Activity-based marketing will change the point of

interaction, moving that point closer to the point of customer need.

New merchant-funded reward platforms will emerge that improve the targeting of

offers and social media channel insight will be used to improve service and

delivery. Finally, banks will continue to improve real-time alerts and notifications

that will strengthen loyalty and engagement.

―Digital channels will mature from being transactional to being engaging in the

coming year,‖ says Nicole Sturgill, research director for retail banking at CEB

Tower Group. ―Financial institutions will also focus more on developing the

channels to improve customer service and to help customers better manage their

finances.‖

10. Differentiating brands: According to Simon Clough, partner and group board

director at U.K. - based clear, ―Consumers view most banking brands as

undesirable and wholly undifferentiated.‖ The digitalization of the industry is

further commoditizing our brands, with fewer face-to-face interactions limiting

our ability to set banks apart.

Banks and credit unions will begin to find ways to stand out in a crowded

competitive marketplace in 2014, leveraging all channels to make their message

heard.

11. Global innovation perspective: Unfortunately, some of the most exciting

banking innovations over the past several years have occurred in the Asia Pacific

region, Eastern Europe and not in the U.S. or U.K. In 2014, banks and credit

unions will begin to look beyond our shores for innovative ideas, learning from

overseas organizations that in some cases are far ahead of our domestic offerings.

With the potential to become the fifth largest banking industry in the world by 2020

and third largest by 2025 according to KPMG-CII report, India‘s banking and

8. CURRENT SCENARIO OF INDIAN BANKING

INDUSTRY

9.

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financial sector is expanding rapidly. The Indian Banking industry is currently worth

Rs. 81 trillion (US $ 1.31 trillion) and banks are now utilizing the latest technologies

like internet and mobile devices to carry out transactions and communicate with the

masses.

The Indian banking sector consists of 26 public sector banks, 20 private sector banks

and 43 foreign banks along with 61 regional rural banks (RRBs) and more than

90,000 credit cooperatives.

Another emerging trend witnessed by the banking sector is the use of social media

platform like Facebook to attract customers. In September 2013 ICICI bank launched

a Facebook bill payment and fund transfer service called ‗Pockets‘ for customer

convenience.

Figure 2: -Market share of Banks

25

High transaction costs.

A major concern before the banking industry is the high transaction cost of

carrying non- performing assets in their books. The growth led to strains in the

operational efficiency of banks and the accumulation of non-performing assets

(NPA‟s) in their loan portfolios.

IT revolution

The Indian banks are subject to tremendous pressures to perform as otherwise

their very survival would be at stake. The application of IT and e-banking is

becoming the order of the day with the banking system heading towards virtual

banking.

Timely technological up gradation

Already electronic transfers, clearings, settlements have reduced translation

times. To face competition it is necessary for banks to absorb the technology and

upgrade their services.

Intense Competition

The RBI and Government of India kept banking industry open for the participants

of private sector banks and foreign banks. The foreign banks were also permitted

to set up shop on India either as branches or as subsidiaries. Due to this lowered

entry barriers many new players have entered the market such as private banks,

foreign banks, non-banking finance companies, etc. The foreign banks and new

private sector banks have spearhead the hi-tech revolution. For survival and

growth in highly competitive environment banks have to follow the prompt and

efficient customer service, which calls for appropriate customer centric policies

and customer friendly procedures.

Privacy and Safety

Among the most important aspects of savings, i.e., safety, liquidity and

profitability, safety is at the top most priority. The areas which might endanger

security in e-banking can be:

Credit risk

Liquidity, interest rate risk, market risks

Legal risk

9. MAJOR CHALLENGES IN BANKING SECTOR

26

Global banking:

The impact of globalization becomes challenges for the domestic enterprises as

they are bound to compete with global players. If we look at the Indian Banking

Industry, then we find that there are 36 foreign banks operating in India, which

becomes a major challenge for Nationalized and private sector banks.

Financial inclusion:

Financial inclusion has become a necessity in today‘s business environment.

Whatever is produced by business houses, that has to be under the check from

various perspectives like environmental concerns, corporate governance, social

and ethical issues. In India, RBI has initiated several measures to achieve greater

financial inclusion, such as facilitating no-frills accounts and GCCs for small

deposit sand credit.

10.1 Political analysis

Monetary policy becomes more restrictive over the past years. Inflation has remained

a policy headache for the government and the central bank for the past two years.

Inflation was a primary concern among the policy makers during 2010-11. Inflation,

which remained at elevated levels for a large part of FY11, was largely driven

by food and fuel items and later on transmitted to manufacturing products to

become a general phenomenon. The average inflation rate in India was 7.99%

between 1969 and 2010.

10.2 Economic analysis

The Indian economy has recorded remarkable growth over the past decade. India's

economic growth is expected to robust in 2012 and 2013. The International Monetary

Fund (IMF) has pared India‘s economic growth projection to 6.9% in 2012 from its

January estimate of 7%, the only emerging economy for which it has done so. Banks

provide capital formation to various sectors which directly help in the growth of

Indian economy.

10. PEST ANALYSIS

27

10.3 Social analysis

Indian banking system has been progressing rapidly. There are ample opportunities

for the banks to cover untapped rural market. Yet, banking facilities are not available

in many rural areas. Many farmers are taking loan from moneylender at a very high

rate of interest. Small-scale industries would remain important for banks. Changes

could be expected in near future for unorganized sectors.

10.4 Technological analysis

In recent time, Indian banking industry has been consistently working towards the

development of technological changes and its usage in the banking operations for the

improvement of their efficiency. With the application of new and improved

technologies banks expected to reduce costs, time and give customer satisfaction.

Core banking has changed the face of banking by offering value added services. Core

banking applications helps to provide complete front and backend automation of

banks. Technological developments would render flow of information and data faster

leading to faster appraisal and decision-making. This would enable banks to make

credit management more effective, besides leading to an appreciable reduction in

transaction cost.

ATM (Automated Teller Machine) is electronic machine, which is operated by a

customer himself to deposit or to withdraw cash from bank. ATMs reduce the work

pressure on bank's staff and avoid queues in bank premises. ATMs are of great help

to travelers. They need not carry large amount of cash with them. They can withdraw

cash from any city or state, across the country and even from outside the country with

the help of ATM.

28

1. Introduction

Vision of Kotak Mahindra Bank

2. History of Kotak Mahindra Bank

3. Merger with ING Vysya Bank

4. Awards and Recognitions

5. SWOT Analysis

6. Products and Services

Chapter – 3

Company Profile

29

Kotak Mahindra Bank is the fourth largest Indian private sector bank by market

capitalization, headquartered in Mumbai, Maharashtra. The bank‘s registered office

(headquarters) is located at 27BKC, Bandra Kurla Complex, Bandra

East, Mumbai,Maharashtra, India.

In February 2003, Kotak Mahindra Finance Ltd, the group's flagship company was

given the licence to carry on banking business by the Reserve Bank of India (RBI).

Kotak Mahindra Finance Ltd. is the first company in the Indian banking history to

convert to a bank.

As on September 30, 2014, Kotak Mahindra Bank has over 641 branches and over

1,159 ATMs spread across 363 locations in the country. The bank, before merger with

ING Vysya had around 29,000 employees.

Table – 1. About Kotak Mahindra Bank

Type Public company Products Deposit accounts,

Loans,Investment

services, Business

banking solutions,

Treasury and Fixed

income products etc.

Traded as BSE: 500247

NSE: KOTAKBANK

Revenue ₹109.63

billion(US$1.7 billion)

(2011)

Industry Banking, Financial service Net

income ₹15.69

billion(US$250 millio

n)(2011)

Founded 1985 (as Kotak Mahindra

Finance Ltd)

Number

of

employees

29,000 (before merger

with ING

Vysya) (2015)

Headquarters Mumbai, Republic of India Website www.kotak.com

1. INTRODUCTION

30

Vision of Kotak Mahindra Bank

To be the most trusted Global Indian Financial Services brand and the most preferred

financial services employer with focus on creating value.

Kotak Mahindra group, established in 1985 by Uday Kotak, is one of India‘s leading

financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd.

(KMFL), the Group‘s flagship company, received a banking licence from the Reserve

Bank of India (RBI). With this, KMFL became the first non-banking finance company

in India to be converted into a bank – Kotak Mahindra Bank Limited (KMBL).

In a study by Brand Finance Banking 500, published in February 2014 by the Banker

magazine (from The Financial Times Stable), KMBL was ranked 245th among the

world‘s top 500 banks with brand valuation of around half a billion dollars ($481

million) and brand rating of AA+. KMBL is also ranked among the top 5 Best

Ranked Companies for Corporate Governance in IR Global Ranking.

2.1 TIMELINES

Table – 2. Time line of Kotak Mahindra Bank

Year Milestone

1985 Kotak Mahindra Finance Limited commences bill discounting business

1987 Kotak Mahindra Finance Limited enters leasing and hire purchase

business

1990 Starts the auto finance division for financing passenger cars

1991 Launches investment banking business

2. HISTORY OF KOTAK MAHINDRA BANK

31

1992 Enters the funds syndication business

1995

Commenced joint venture with Goldman Sachs Group Inc.Investment

Banking division incorporated into a separate company - Kotak Mahindra

Capital Company

1996

The auto finance business is hived off into a separate company - Kotak

Mahindra Prime Limited (formerly known as Kotak Mahindra Primus

Limited).

Kotak Mahindra takes a significant stake in Ford Credit Kotak Mahindra

Limited, for financing Ford vehicles.

1998 Launches mutual fund through Kotak Mahindra Asset Management

Company (KMAMC).

2000 Kotak Securities launches online broking business (now

www.kotaksecurities.com[6]

).

2001 Launches insurance business, partners Old Mutual from South Africa to

form Kotak Mahindra Old Mutual Life Insurance Ltd.

2003

Kotak Mahindra Finance Ltd. (KMFL), the group's flagship company,

receives banking license from the Reserve Bank of India (RBI). With

this, KMFL becomes the first non-banking finance company to be

converted into a commercial bank - Kotak Mahindra Bank Ltd.

2004 Enters alternate assets business with the launch of a private equity fund.

2005

Kotak Mahindra Group realigns joint venture in Ford Credit; takes 100%

ownership of Kotak Mahindra Prime (formerly known as Kotak

Mahindra Primus Limited) and sells its stake in Ford credit Mahindra to

Ford.

2005 Launches a real estate fund

2006 Buys out Goldman Sachs' equity stake in Kotak Mahindra Capital

Company and Kotak Securities Ltd.

2008 Launched a Pension Fund under India's National Pension System (NPS)

2009 Kotak Mahindra Bank Ltd. opens a representative office in Dubai

Kotak Mahindra Bank Ltd. becomes anchor investor in Ahmedabad

32

Commodities Exchange (ACE)

2015 ING Vysya Bank has merged with Kotak Mahindra Bank with effect

from April 1, 2015.[7]

In 2014, Kotak Bank acquired ING Vysya Bank for a deal valued

at ₹15000 crore (US$2.4 billion). With the merger, the total human resource

count will jump to almost 40,000 heads and the branch was expected to rise over

1200.[8]

Post the merger, ING Group which controlled ING Vysya Bank will own

7% share in Kotak Mahindra Bank.

Won ‗Gold Award for Best Innovation – World‘s first socially powered bank

account‘ and ‗Gold Award for Best App developed – World‘s first banking

application using Twitter‘ awards at the Indian Digital Media Awards 2014 for

Kotak Jifi

Recognized as Highest Fundraising Company in Corporate Challenge category in

Standard Chartered Mumbai Marathon 2014

Kotak Mahindra Bank was ranked 292nd among India's most trusted brands

according to the Brand Trust Report 2012, a study conducted by Trust Research

Advisory. In the Brand Trust Report 2013, Kotak Mahindra Bank was ranked

861st among India's most trusted brands and subsequently, according to the Brand

Trust Report 2014, Kotak Mahindra Bank was ranked 114th among India's most

trusted brands.

Adjudged Best Bank among Emerging Banks at Outlook Money Awards 2013

Adjudged Best Medium Sized Bank of the Year 2013 by Business World

Kotak Junior ad film adjudged Best Banking Ad Worldwide 2013, by Bank

Innovation – a leading global blog on banking

Won Asian Banker‘s IT Award in Best Self Service category for Courtesy Call

Back feature

4. AWARDS AND RECOGNITIONS

3. MERGER WITH ING VYSYA BANK

33

Won ‗Platinum for Innovation – World‘s first Twitter Enabled Banking Product‘,

‗Gold for Best Usage of Viral Marketing‘, ‗Gold for Best Usage of Social Media‘,

‗Gold for Best Usage of Digital Marketing‘ and ‗Gold for Best Digital Strategy‘

at Campaign India Digital Crest Awards 2013 for Kotak Jifi

Won EMC Transformer Award 2013 for innovative implementation of storage

technologies in the Bank

Won National Securities Depository Ltd. (NSDL) award in the Best Performer in

account Growth Rate category 2013, for Demat Accounts.

Won EMC Transformer Award 2013 for innovative implementation of storage

technologies in the Bank

Won National Securities Depository Ltd. (NSDL) award in the Best Performer in

account Growth Rate category 2013, for Demat Accounts

Won Green IT Enterprise Award 2013 by CIO Forum and Schneider Electric for

various power and saving techniques implemented in Data Centre (Was also

ranked among the Top 10 in the Large Enterprises category)

Received award for Innovative Use of Data Storage at the CNBC TV18 India

Innovation Award, 2013

Won the award for the Best Managed Board by Aon Hewitt-Mint Study 2012

Won the Best Bank Award under the New Private Sector Bank category (runner-

up) at the Financial Express Awards

Voted as the Best Local Cash Management Bank in India for small companies

(turnover < US$100 million) by Asiamoney, 2012

Won the Silver Effie – a prestigious advertising effectiveness award for the 6%

campaign featuring Subbu in the financial services category

Won the Asian e-payment Awards at the Asian Leadership Awards in the Best e-

Payment Bank, the Best Online Payment Platform and e-Payment Market

Leadership category

Won the Celent Model Bank Award for core banking implementation in the

category Infrastructure & Architecture

Won the Security in Bank award by Data Security Council of India (DSCI) at the

DSCI Excellence Awards, 2012

Won the IT Transformer's Award at The EMC Transformer's Awards, 2012

34

Won the Gold award at the Trade & Forfaiting Review (TFR) Awards 2012,

under the category, Best Local Trade Bank in India

4.1 IBA Banking Technology Awards

Best Customer Relationship Achievement – Winner 2008 & 2009

Best overall winner, 2007

Best IT Team of the Year, 4 years in a row from 2006 to 2009

Best IT Security Policies & Practices, 2007.

Best Investment Bank in India, 2010

Best Equity House in India, 2010

Best Broker in India, 2010

Best Domestic Equity House, 2010

Best Local Brokerage in the Asia money Brokers Poll ? 2010

Best Investment Bank in India, 2010

Best Bank for Equity Finance in India, 2010

Best Domestic Investment Bank, 2010

Best Investment Bank in India, 2006, 2007, 2008, 2009 & 2010

Best Equity House in India, 2008 & 2010

Best Domestic Equity House, 2008, 2009 & 2010

Kotak Mahindra Bank has launched a credit card called Kotak Trump Card

that offers 10% cash back on dining as well as movie and play spends.

Kotak Mahindra Bank (KMB) has introduced Stock Ace, a new product

offering for individual customers which provides them the power of instant

liquidity.

35

Table – 3. SWOT Analysis of Kotak Mahindra Bank

Strengths Weaknesses

Despite losing market share over the

last four years, KMB‘s investment

banking and stock broking franchises

are amongst the best in India

KMB has one of the most stable top

management teams with almost the

entire top management team being

employed with the bank for more

than a decade.

A diversified business model across

lending, asset management, capital

market and insurance help the

company to capture the entire value

chain in the financial services sector

and helps maintain earnings growth.

KMB is a market leader in car and

commercial vehicle finance with

strong appraisal skills in this

business.

KMB has negligible exposure to

stressed sectors such as power, infra,

Aviation and Textiles.

KMB has a weak liability franchise,

its CASA ratio is amongst the lower

for Indian banks. When still with SA

at 12 % of total deposits and – 7% of

its total liabilities.

KMB has a weak presence in

corporate banking. However,

increasingly the company is focusing

on corporate banking.

KMB is heavily reliant on the

interbank market on the ―Liability‖

side of the balance sheet.

Opportunities Threats

KMB has the opportunity to

strengthen its liability franchise by

increasing its CASA deposits.

The recent deregulation of the saving

rate by the RBI gives KMB an

Convergence of regulations for

NBFCs in line with banks could

affects profitability of the company

by – 6% - 7% given that – 27 % of its

lending business is through an NBFC

5. SWOT ANALYSIS OF KOTAK MAHINDRA BANK

36

opportunity to top new customers and

strengthen its CASA base.

It has the opportunity to diversity on

the ―Asset‖ side of the balance sheet

by increasing market share in

corporate banking.

KMB can use its presence across

management; capital market and

insurance to cross sell its products.

which has lower regulatory

obligations that bank.

Continued weakness in non – leading

business could affect earnings growth

if the leading business is unable to

maintain its momentum.

Table – 4. Products and Services of Kotak Mahindra Bank.

6.1 Accounts & Deposits 6.2 Loans

Savings Account

Current Account

Corporate Salary Accounts

Jifi Account

Term Deposits

Safe Deposit Locker

Kotak 3-in-1 Account

Home Loans

Personal Loans

Education Loans

Tractor Finance

Loan against Property

Rural Auto & Farm Equipment

Finance

Home Improvement Loans

Home loan balance Transfer

Gold Loans

Commercial Vehicle Finance

Loan against Securities

Construction

Equipment/Infrastructure Finance

Saral Auto Finance

6.3 Cards 6.4 Investments & Insurance

Debit Card

Debit Card Services

Credit Card

Pradhan Mantri Bima Yojna

Qualified Foreign Investor (QFI)

ASBA

6. PRODUCT AND SERVICES OF KOTAK

37

Compare Credit Card

Credit Card Services

Prepaid Cards

Kotak Netc@rd

Kotak offers

Mutual Funds

Life Insurance

Demat Account

National Pension System

6.5 Financial Inclusions 6.6 Convenience Banking

Financial Inclusions

BSBDA – Bank Branches

Small Accounts – correspondent

(FINO Ltd.)

BSBDA/Small Account – Business

Correspondents (Manipal

Technologies Ltd.)

Business Correspondent Details

Grievance Redressal

News

List of Village Covered by BC

Model

Money Watch

Contests & Winners

Hashtag Banking

Net Banking

SMS Banking

Kotak Payment Gateway

Mobile Banking

Insta Balance Services

Immediate Payment Services

Unstructured Supplementary Service

Data (USSD)

Alerts

ATM Network

Phone Banking

Cash Deposit kiosk (CDK)

List of Billers

6.7 Make Payments

Online Shopping

Travel & Entertainments

Utility Payments & Recharge

Mail Money

Message Money

Credit Card Payment

e Taxes

Money Transfer

Pay Loan EMI

Kotak Netc@rd

Kaypay

Secure your online transaction

38

1. Research

2. Research Methodology

3. Research Design

4. Data Collection Method

5. Sample Size and Sampling Design

6. Objectives of Study

7. Benefits of the Study

8. Limitations of the Study

Chapter – 4

Research Methodology

39

―Research is formalized curiosity. It is poking and prying with a purpose.‖

~Nora Zeale Hurston

The process used to collect information and data for the purpose of making business

decisions. The methodology may include publication research, interviews, surveys

and other research techniques, and could include both present and historical

information.

―Research design is the framework of conducting research for a project. It specifies

all the details of procedure necessary for obtaining, processing & analyzing the

information needed to exactly define the research problem & to solve that research

problem.‖

There are three types of research designs

3.1 EXPLORATORY DESIGN

An exploratory study is generally based on the secondary data that are readily

available. It does not have a formal and rigid design as the researcher may have to

change his focus or direction, depending on the availability of new ideas and

relationships among variables. An exploratory study is in the nature of the

preliminary, investigation wherein the researcher himself is not sufficient

knowledgeable and is, therefore, unable to frame detailed research questions.

3.2 DESCRIPTIVE DESIGN

Descriptive study is undertaken in much circumstance. When the researcher is

interested in knowing the characteristics of certain groups such as age, sex,

educational level, occupation or income or a descriptive study may be necessary.

1. RESEARCH

2. RESEARCH METHODOLOGY

3.

3. RESEARCH DESIGN

4.

40

3.3 CAUSAL

“As the name implies a causal design investigates the cause and effect relationship

between two or more variable.‖

In this study Descriptive Research Design is used to analyze and to find out

nature of the problem.

Exploratory Design Conclusive

Research

RESEARCH DESIGNS

1. Qualitative Analysis

2. Secondary Data.

3. Experts Opinion

4. Experience Surveys

5. Focus Group.

Causal Designs Descriptive Designs

Malty Sectional Single

Sectional

Cross Sectional Designs Longitudinal Designs

Method Of

Disagreement

Method of

Agreement

Figure: -3 Research Design

41

4.1 SOURCES OF DATA.

4.1.1 Primary Source of Data

Primary sources are original materials. Primary data is collected by a person for own

purpose.

4.1.2 Secondary Source of Data

Secondary data is data collected by someone other than the user. Common sources of

secondary data for social science include censuses, organizational records and data

collected through qualitative methodologies or qualitative research. Primary data, by

contrast, are collected by the investigator conducting the research.

In this study primary data is collected from commercial clients with the use of

questionnaire.

5.1.1 SAMPLE SIZE.

This study is conducted to know the banking behavior of commercial customers

towards corporate banking and for that purpose 100 sample size is taken.

5.1.2 SAMPLING DESIGN

We may then consider different types of probability samples. Although there are a

number of different methods that might be used to create a sample, they generally can

be grouped into one of two categories: probability samples or non-probability

samples.

4. DATA COLLECTION METHOD

5.

5. SAMPLE SIZE AND SAMPLING DESIGN.

6.

42

A) PROBABILITY SAMPLES

The idea behind this type is random selection. More specifically, each sample from

the population of interest has a known probability of selection under a given sampling

scheme. There are four categories of probability samples described below.

1. Simple Random Sampling

The most widely known type of a random sample is the simple random sample (SRS).

This is characterized by the fact that the probability of selection is the same for every

case in the population. Simple random sampling is a method of selecting units from a

population of size N such that every possible sample of size and has equal chance of

being drawn.

2. Stratified Random Sampling

In this form of sampling, the population is first divided into two or more mutually

exclusive segments based on some categories of variables of interest in the research. It

is designed to organize the population into homogenous subsets before sampling, then

Convenience

Sampling

Judgmental

Sampling

Snowball

Sampling

Quota

Samplin

g

Probability Sampling Non- Probability Sampling

Simple

Random

Samplin

g

Cluster

Sampling

Stratified

Sampling

Systematic

Random

Sampling

SAMPLING

DESIGN

Figure: -4 Sampling Design

43

drawing a random sample within each subset. With stratified random sampling the

population of N units is divided into subpopulations of units respectively. These

subpopulations, called strata, are non-overlapping and together they comprise the

whole of the population.

When these have been determined, a sample is drawn from each, with a separate draw

for each of the different strata. The sample sizes within the strata are denoted by

respectively. If a SRS is taken within each stratum, then the whole sampling

procedure is described as stratified random sampling.

The primary benefit of this method is to ensure that cases from smaller strata of the

population are included in sufficient numbers to allow comparison. An example

makes it easier to understand. Say that you're interested in how job satisfaction varies

by race among a group of employees at a firm. To explore this issue, we need to

create a sample of the employees of the firm.

3. Systematic Sampling

This method of sampling is at first glance very different from SRS. In practice, it is a

variant of simple random sampling that involves some listing of elements - every nth

element of list is then drawn for inclusion in the sample. Say you have a list of 10,000

people and you want a sample of 1,000.

Creating such a sample includes three steps:

1. Divide number of cases in the population by the desired sample size. In this

example, dividing 10,000 by 1,000 gives a value of 10.

2. Select a random number between one and the value attained in Step 1. In this

example, we choose a number between 1 and 10 - say we pick 7.

3. Starting with case number chosen in Step 2, take every tenth record (7, 17, 27,

etc.).

4. Cluster Sampling

In some instances the sampling unit consists of a group or cluster of smaller units that

we call elements or subunits (these are the units of analysis for your study). There are

two main reasons for the widespread application of cluster sampling. Although the

44

first intention may be to use the elements as sampling units, it is found in many

surveys that no reliable list of elements in the population is available and that it would

be prohibitively expensive to construct such a list. In many countries there are no

complete and updated lists of the people, the houses or the farms in any large

geographical region.

B) NON PROBABILITY SAMPLING

Social research is often conducted in situations where a researcher cannot select the

kinds of probability samples used in large-scale social surveys. For example, say you

wanted to study homelessness - there is no list of homeless individuals nor are you

likely to create such a list. However, you need to get some kind of a sample of

respondents in order to conduct your research. To gather such a sample, you would

likely use some form of non-probability sampling.

To reiterate, the primary difference between probability methods of sampling and

non-probability methods is that in the latter you do not know the likelihood that any

element of a population will be selected for study.

There are four primary types of non-probability sampling methods:

1. Availability or convenience Sampling

Availability sampling is a method of choosing subjects who are available or easy to

find. This method is also sometimes referred to as haphazard, accidental, or

convenience sampling. The primary advantage of the method is that it is very easy to

carry out, relative to other methods. A researcher can merely stand out on his/her

favorite street corner or in his/her favorite tavern and hand out surveys. One place this

used to show up often is in university courses. Years ago, researchers often would

conduct surveys of students in their large lecture courses. For example, all students

taking introductory sociology courses would have been given a survey and compelled

to fill it out. There are some advantages to this design - it is easy to do, particularly

with a captive audience, and in some schools you can attain a large number of

interviews through this method.

2. Purposive or Judgmental Sampling

Purposive sampling is a sampling method in which elements are chosen based on

purpose of the study. Purposive sampling may involve studying the entire population

45

of some limited group (sociology faculty at Columbia) or a subset of a population

(Columbia faculty who have won Nobel Prizes). As with other non-probability

sampling methods, purposive sampling does not produce a sample that is

representative of a larger population, but it can be exactly what is needed in some

cases - study of organization, community, or some other clearly defined and relatively

limited group.

3. Quota Sampling

Quota sampling is designed to overcome the most obvious flaw of availability

sampling. Rather than taking just anyone, you set quotas to ensure that the sample you

get represents certain characteristics in proportion to their prevalence in the

population. Note that for this method, you have to know something about the

characteristics of the population ahead of time. Say you want to make sure you have a

sample proportional to the population in terms of gender - you have to know what

percentage of the population is male and female, then collect sample until yours

matches. Marketing studies are particularly fond of this form of research design.

4. Snowball Sampling

Judgmental sampling is a non-probability sampling technique where the researcher

selects units to be sampled based on their knowledge and professional judgment. This

type of sampling technique is also known as purposive sampling and authoritative

sampling.

Snowball sampling is a method in which a researcher identifies one member of some

population of interest, speaks to him/her, and then asks that person to identify others

in the population that the researcher might speak to. This person is then asked to refer

the researcher to yet another person, and so on.

Snowball sampling is very good for cases where members of a special population are

difficult to locate. For example, several studies of Mexican migrants in Los Angeles

have used snowball sampling to get respondents.

In this study convenience sampling of Non - probability sampling is used,

because samples of the study are targeted as per the availability of respondents.

46

To know the banking behavior and preference of corporate customers of prahlad

nagar area towards corporate banking.

To know what are the most important factors for choosing particular bank and

what are the reasons for switching customers from one bank to another.

To know which are the major banking services that corporate customers use and

to find out the important factors that helps customers to keep associated with the

bank.

It helps to know the banking behavior and preferences of the corporate customers

towards corporate banking.

This study helps to find out the major banking services that corporate customers

use in their day –to – day transactions.

This study helped to know that which sector‘s bank is preferred by corporate

customers.

It helped to know the most attractive factors of banks that keep the corporate

customers to associated with the bank.

This study helps to know which banks provides banking services to the most of

the corporate customers of prahlad nagar area.

This report is based on the primary data which is collected with the use of

questionnaire by taking responses of corporate customers, and to take response of

corporate customers is quite difficult, hence this is one limitation of this study.

6. OBJECTIVES OF STUDY

7.

7. BENEFITS OF THE STUDY

8.

8. LIMITATIONS OF THE STUDY

9.

47

After collecting data from corporate customers, it is require to process that data on

SPSS software. Hence it require to have knowledge of that software also.

This study is time consuming and costly as well.

It requires huge human efforts as well as technical skill to find out fruit full

results.

48

Chapter – 5 Data Analysis

49

Sole Proprietorship Partnership Private Sector

Frequency 34 9 57

0

10

20

30

40

50

60

Figure: -5. Graphical Presentation of Constitution Types

Existing in Prahlad Nagar Area

Table – 5. Major Constitutions Existed in Prahlad Nagar Area

Constitution Type Frequency Percent

Sole Proprietorship 34 34

Partnership 9 9

Private Sector 57 57

Total 100 100

Interpretation: -

As we can see in the above graph that, mostly private Limited companies are

existed in Prahlad Nagar area. Very few partnership firms are there and there is no

Franchising firms, Joint Ventures, Co – operative firms, HUFs and other firms in

that particular area.

Hence mostly there are privet sector and Sole Proprietary firms are doing business.

50

Table – 6. Cross Tabulation Between Constitution Type and Their Proffered Bank

Bank

Constitution Type

Total Solo Proprietary

[34]

Partnership

[9]

Private Sector

[57]

Public Sector 14 4 28 46

Foreign Bank 1 0 0 1

Private Sector 29 6 47 82

Co – Operative 2 1 1 4

NBFC 0 0 0 0

Other 0 0 0 0

Interpretation: -

As we can see in the above graph that, out of 57% private Ltd. Companies and

34% sole proprietary firms, 47% private Ltd. Companies and 29% sole proprietary

firms prefer private sector banks respectively.

28% of Private ltd. Companies also prefer public sector banks for their day – to –

day transactions.

Very few corporate customers would like to go for the Co – operative banks.

14

1

29

2 4

0

6

1

28

0

47

1

0

5

10

15

20

25

30

35

40

45

50

Public Sector Foreign Bank Private Sector Co – Operative

Solo Proprietary [34] Partnership[9] Private Sactor[57]

Figure: - 6. Graphical Presentation of Constitution Type and Their preferred Bank

51

Table – 7. Cross Tabulation Between Nature of Business and Their Existing Banking Services

Banking Services Manufacturing Retailing Service Wholesale

Trade Other Total

Custody / Depository Services

(Security Services) 0 0 0 1 0 1

Export Finance 2 0 2 1 3 8

Working capital Loan 2 1 5 3 0 11

Term Loan 4 2 11 7 0 24

C.C 7 1 15 7 1 31

O.D 1 0 3 2 3 9

Bank Guarantees 2 1 13 4 1 21

L.C 1 0 0 0 1 2

Structured Finance (project

finance, Acquisition finance) 0 0 0 0 1 1

Foreign Exchange 1 0 6 2 2 11

Asset Management 0 0 0 0 0 0

Factoring / Commercial Finance 0 0 0 0 0 0

Finance for mergers and

acquisitions 0 0 0 0 0 0

Equity Trading 0 0 0 0 0 0

Payment Services 0 0 0 0 0 0

Debt capital market instrument

(Bank, commercial paper) and

Trading thereof

0 0 0 0 0 0

Total 20 5 55 27` 12 119

Interpretation: -

As per graphical presentation we can say that out of 119 responses of corporate

customers 31 respondents use C.C (Cash Credit) limit, 24 use term loans, 21 use

bank guarantee and remaining service of banks are also used by these customers.

C.C limit service is mostly used by service sector companies.

Most of Service sector companies and Manufacturing companies use term loans

for their working capital requirement.

Most of Banking services like, Assets management, factoring/commercial finance,

Finance for mergers and acquisitions, Equity Trading, Payment services, Debit

capital market instrument and trading thereof are not used by commercial

customers.

52

0

2

2

4

7

1

2

1

0

1

0

0

1

2

1

0

1

0

0

0

0

2

5

11

15

3

13

0

0

6

1

1

3

7

7

2

4

0

0

2

0

3

0

0

1

3

1

1

1

2

Custody / Depository Services (Security Services)

Export Finance

Working capital Loan

Term Loan

C.C

O.D

Bank Guarantees

L.C

Structured Finance (project finance, Acquisition

finance)

Foreign Exchange

Figure: - 7. Graphical Presentation of Nature of Business and

their existing Banking Services

Other Wholesale Trade Service Retailing Manufacturing

53

14

46 38

31

21 18

2 6 5 2 3 3 3 1

13

Figure: - 8. Graphical Presentation of Customer

Association with Bank

Responces

Interpretation: -

As per the graphical presentation 46% of the corporate customers are associated with

HDFC bank and 38% of customers are associated with ICICI bank. Hence we can say

that most of the market of Prahlad nagar area is covered by HDFC and ICICI bank.

Table – 8. Associated Bank With Customers

Name of The Bank Responses Percent

SBI 14 6.80%

HDFC 46 22.30%

ICICI 38 18.40%

Axis 31 15.00%

BOB 21 10.20%

Kotak 18 8.70%

Nagrik Bank 2 1.00%

Citi Bank 6 2.90%

BOI 5 2.40%

Union Bank 2 1.00%

Yes Bank 3 1.50%

IDBI 3 1.50%

PNB 3 1.50%

Vijya Bank 1 0.50%

Other 13 6.30%

Total 206 100.00%

54

Table – 9. Cross Tabulation of Banks and Their Services

Name

of

Bank

Custody /

Depository

Services

(Security

Services)

Export

Finance

Working

Capita

Loan

Term

Loan C.C O.D

Bank

Guarantees L.C

Structured

Finance

(project

finance,

Acquisition

finance)

Foreign

Exchange Total

SBI 1 1 0 2 3 0 1 0 1 0 9

HDFC 0 2 6 16 11 5 15 1 0 5 61

ICICI 0 3 6 12 10 3 11 0 1 4 50

Axis 0 0 4 8 10 2 5 0 1 1 31

BOB 0 1 3 8 7 3 9 1 0 0 32

Kotak 0 1 3 4 5 2 4 0 1 5 25

Nagrik

Bank 0 1 0 0 2 0 0 0 0 1 4

Citi

Bank 0 1 1 1 4 0 2 0 0 1 10

BOI 0 0 2 1 2 0 1 0 0 1 7

Union

Bank 0 0 0 1 1 1 1 0 0 0 4

Yes

Bank 1 0 0 0 1 1 0 0 0 0 3

IDBI 0 0 0 1 2 0 0 0 0 1 4

PNB 0 0 0 1 2 0 0 0 0 0 3

Other 1 2 1 2 4 3 1 0 0 2 16

Total 3 12 26 57 64 20 50 2 4 21 259

Interpretation: -

As per data collection and analysis it is found that out of 259 responses HDFC

provides services to 61 and ICICI serves their services to 50 respondents. Hence most

of the corporate customers use services of HDFC bank and ICICI bank.

Out of 61 respondents of HDFC 16 uses term loans and 15 uses bank guarantee and

out of 50 respondents of ICICI 12 uses term loans and 11 uses banks guarantee.

Hence in comparison of both most of the corporate customers prefer term loan and

bank guarantee of HDFC bank while customers of ICICI bank prefer C.C, O.D, Term

loan and Bank Guarantee of ICICI bank.

55

0 2 3

1 0 2

0 1 1 0 0 0 0 0 1 3

12

7 6 6 5

0 1 0 0

3

0 1 0

3

7

21

18

15

9

5

0 2

0 0 0 1 2 0

5 4

11 10 9

6 6

2 2 4

2 0

2 0 1

4

SBI HDFC ICICI Axis BOB Kotak Nagrik

Bank

Citi

Bank

BOI Union

Bank

Yes

Bank

IDBI PNB Vijya

Bank

Other

Figure: -9. Graphical Presentation of Bank and Since how

long customers are associated with that Bank

Less than 1 year[5] 1 to 3 years[21] 3 to 5 years[38] More than 5 year[36]

Table – 10. Cross Tabulation Between Banks and Association with them(Years)

Name of the

bank

Number of Years

Total Less than 1

year[5]

1 to 3

years[21]

3 to 5

years[38]

More than 5

year[36]

SBI 0 3 7 4 14

HDFC 2 12 21 11 46

ICICI 3 7 18 10 38

Axis 1 6 15 9 31

BOB 0 6 9 6 21

Kotak 2 5 5 6 18

Nagrik Bank 0 0 0 2 2

Citi Bank 1 1 2 2 6

BOI 1 0 0 4 5

Union Bank 0 0 0 2 2

Yes Bank 0 3 0 0 3

IDBI 0 0 1 2 3

PNB 0 1 2 0 3

Vijya Bank 0 0 0 1 1

Other 1 3 5 4 13

Interpretation: -

As per graph most of the customers of prahlad nagar area are associated with HDFC

and ICICI bank for 3 to 5 years. Very few customers are there who are associated

with all banks for less than 1 year.

56

85 85

38

2 10

Responses

Figure: -10. Graphical Presentation of

Communication Media Used by Banks

E - Mail SMS Relationship Manager Advertisement Self Visit

Table – 11. Communication Media

Media Responses Percent

E – Mail 85 38.60%

SMS 85 38.60%

Relationship Manager 38 17.30%

Advertisement 2 0.90%

Self-Visit 10 4.50%

Total 220 100.00%

Interpretation: -

As we can see in the above graph that 38.60% of banks use E –mails and SMS

services to give information about new banking products to their customers. Other

customers get information about new products via calls from relationship manager,

self – visits and Advertisements.

57

17

86

4

25

2

66

3

64

20

78

1 5 2

98

2

14 3 7

0

20

40

60

80

100

120

Responses

Table – 12. Most Important Reasons For Choosing Bank

Reasons for choosing bank Responses Percent

Low service charges 17 3.40%

Image of the bank 86 17.30%

Several Branches 4 0.80%

Low interest on loan 25 5.00%

Friendliness of bank personnel 2 0.40%

Variety of service Offered 66 13.30%

Ease of opening of new account 3 0.60%

Convenient Branch Location 64 12.90%

Accurate Bank Statement 20 4.00%

Safe investment 78 15.70%

Bank‘s interest in helping the community 1 0.20%

Adequate number of seller 5 1.00%

Ease of Obtaining loan 2 0.40%

Speed And Quality Services 98 19.70%

Innovativeness and adoption of new technology 2 0.40%

Online banking 14 2.80%

Convenient ATM Location 3 0.60%

24 - Hours ATM 7 1.40%

Total 497 100.00%

Figure: -11. Graphical Presentation of Most Important Factors for Choosing Bank

58

Interpretation: -

As par collection of data five most important factors for choosing a bank are;

1. Speed and Quality Services

2. Image of the bank

3. Safe investment

4. Variety of services offered

5. Convenient Branch Location

There are some other factors which also play an important role for choosing a

particular bank. Like; Low interest on loan, Low service charge. Accurate Bank

Statements etc.

59

Table – 13. Cross Tabulation of Proffered Bank and Reasons for choosing that bank

Reasons for choosing bank

Proffered bank

Public

Sector

Foreign

Bank

Private

Sectored

Co –

Operative

Low service charges 6 0 16 0

Image of the bank 41 1 70 4

Several Branches 2 0 3 0

Low interest on loan 9 0 19 1

Friendliness of bank personnel 1 0 1 1

Variety of service Offered 32 0 56 3

Ease of opening of new account 2 0 2 0

Convenient Branch Location 29 0 54 3

Accurate Bank Statement 10 1 15 0

Safe investment 38 1 65 3

Bank‘s interest in helping the

community 1 0 1 0

Adequate number of seller 3 1 3 0

Ease of Obtaining loan 1 0 1 1

Speed And Quality Services 44 1 82 3

Innovativeness and adoption of

new technology 0 0 2 0

Online banking 4 0 11 1

Convenient ATM Location 1 0 2 0

24 - Hours ATM 4 0 5 0

Interpretation: -

As we can see in the above table that private sector banks are providing speed and

quality services, safe investment, and variety of services to the corporate customer

and image of the bank is also an important factor for choosing private sector bank.

60

14

45

36 30

21 17

2 5 5

2 3 3 3 1

13

1 5

8 6 3

7

0 1 1 0 0 1 0 0 3

0 1 2 2 0 2 0 0 1 0 0 0 0 0 0

Figure: -12. Graphical Presentation of Banks and Types of

Accounts Maintained by customers

Current A/c Salary A/c Loan A/c

Table – 14. Cross Tabulation of Banks and Types of Accounts Maintained by

Corporate Customers

Name of the Bank

Bank account

Current A/c Salary A/c Loan A/c

SBI 14 1 0

HDFC 45 5 1

ICICI 36 8 2

Axis 30 6 2

BOB 21 3 0

Kotak 17 7 2

Nagrik Bank 2 0 0

Citi Bank 5 1 0

BOI 5 1 1

Union Bank 2 0 0

Yes Bank 3 0 0

IDBI 3 1 0

PNB 3 0 0

Vijya Bank 1 0 0

Other 13 3 0

Interpretation: -

Out of 100 respondents almost 100 respondents are having current account. HDFC

bank has 51 respondents out of that 45 have current account. Then ICICI has 46

respondents out of that 36 has current account.

Customers like to have their salary account in either ICICI bank or Kotak bank.

61

28

7

43

0 0 0 1 0

36

10

77

4 2 2 3 0

0

10

20

30

40

50

60

70

80

90

Finamcial Benefits Technology/Reputation Speed And Quality

Services

Attractiveness/ Influence

Public Sector Foreign Bank Private Sectore Co - Operative

Table – 15. Cross Tabulation Between Bank Preferred by customers and their

Attractive Factors

Preferred

Bank

Attractive factor

Financial

Benefits

Technology/

Reputation

Speed And

Quality

Services

Attractiveness/

Influence

Public Sector 28 7 43 0

Foreign Bank 0 0 1 0

Private Sector 36 10 77 4

Co - Operative 2 2 3 0

Interpretation: -

As we know that most of the customers are associated with private sector banks rather

than public sector bank because of Speed and quality services offered by these banks.

This is the most important factor that attracts customers to have an account in private

sector bank.

Figure: - 13. Graphical Presentation of Customer’s Preferred Banks and their Attractive Factors

62

Statements N Mean

Statistic Statistic

Bank branch located near my company 100 1.40

Speed in handling and processing by the 100 1.06

Willing by the bank to bend the terms for me when negotiating a

contract. 100 1.27

Reaching the right person when calling the bank. 100 1.04

Bank services and their features realize my needs. 100 1.86

No or Few mistakes made by bank 100 2.05

Informal events organized by the bank such as golf, visiting

football matches, etc. 100 3.59

Quality of the service delivered 100 1.01

Feeling that the bank supports my company. 100 1.81

Relying on the bank whenever I need to. 100 2.21

Bank delivers good value for money. 100 1.79

The bank‘s image is well suited to our corporate culture. 100 1.04

The relationship manager is available any time 100 1.53

Regular contact with relationship manager 100 2.65

The relationship manager has knowledge about my business and

understand my problems. 100 1.53

The relationship manager comes with advice on services that

can be useful for my business. 100 1.45

Willingness by the relationship manager to solve my

problem(s). 100 1.58

Bank acts as one institute with the relationship manager 100 1.80

Interpretation: -

To understand the preference of the corporate customers, we asked some questions to

corporate customers with reference to the relationship with bank, and the statements

are measured on the four point scale 1 = Most important, 2 = Rather Important, 3 =

Rather unimportant, 4 = Not at all important.

As we can see in the table that, mean value of Quality of service delivered is 1.01.

Hence it is near to 1. That‘s why we can say that, delivery of quality service is the

most important for the corporate customers.

63

TESTING OF HYPOTHESIS

Testing of hypothesis between various constitution types and important factors in

relationship with bank

Ho: - There is no significant difference in preference of important factors in relation

with bank amongst the various constitution types

H1: - There is a significant difference in preference of important factors in relation

with bank amongst the various constitution types

Interpretation: -

We have applied one way ANOVA analysis to understand the significant difference

amongst constitution type at 5% level of significance.

The significant value of table is 0.821 which is more than 0.05. It suggested that null

hypothesis Ho is accepted. There for there is no significant difference in preference

amongst Solo proprietary, Partnership, Franchising, Private Sector, Joint Venture, Co

– Operative Firm, HUF and Other and important factors in relationship with bank. It

means there is similar preference amongst all the constitution types regarding

important factors in relationship with bank.

ANOVA

Sum of Squares d. f Mean Square F Sig.

Between Groups 3.39 2 1.695 0.197 0.821

Within Groups 833.97 97 8.598

Total 837.36 99

64

Testing of hypothesis between Nature of Business and important factors in

relationship with bank

Ho: - There is no significant difference in preference of important factors in relation

with bank amongst all the nature of businesses

H1: - There is a significant difference in preference of important factors in relation

with bank amongst all the nature of businesses

ANOVA

Sum of Squares df Mean Square F Sig.

Between Groups 20.462 4 5.116 0.595 0.667

Within Groups 816.898 95 8.599

Total 837.36 99

Interpretation: -

The significant value of table is 0.667 which is more than 0.05. It suggested that null

hypothesis Ho is accepted. There for there is no significant difference amongst

Manufacturing, Retailing, Services, Wholesale Trade, and Others and important

factors in relationship with bank. It means there is similar preference amongst all the

Nature of businesses regarding important factors in relationship with bank.

65

Testing of hypothesis between association with bank of Business and important

factors in relationship with bank

Ho: - There is no significant difference in preference of important factors in relation

with bank amongst their association with a particular bank

H1: - There is a significant difference in preference of important factors in relation

with bank amongst their association with a particular bank

ANOVA

Sum of Squares d. f Mean Square F Sig.

Between Groups 84.789 3 28.263 3.605 0.016

Within Groups 752.571 96 7.839

Total 837.36 99

(I) Existence of Business (J) Existence of Business Mean Difference (I-J) S.E

Less than one year 1 to 3 years 2.762 1.73

3 to 5 years 2.31 1.7

More than 5 years 0.75 1.67

1 to 3 years Less than one year -2.762 1.73

3 to 5 years -0.452 0.81

More than 5 years -2.012* 0.73

3 to 5 years Less than one year -2.31 1.7

1 to 3 years 0.452 0.81

More than 5 years -1.56 0.67

More than 5 years Less than one year -0.75 1.67

1 to 3 years 2.012* 0.73

3 to 5 years 1.56 0.67

66

Interpretation: -

The statistical table value suggested that significance value is 0.016 which is less than

0.05 there for null hypothesis Ho is rejected and alternate hypothesis H1 is accepted.

It means there is a significant difference amongst the various groups of years of

association with the bank.

Now, we want to understand that which particular group of year has similarity and

which group of year has significance difference there for we have applied the POST

HOC (TUKKEY) test.

Results of POST HOC (Tukkey) test suggested that year group 1 – 3 and more than

five year have similarity amongst the overall perception of important factors in

relationship with bank, while there is less similarity between year groups of less than

one year and 3 – 5 year.

67

Chapter – 6 Findings

68

Following are some of the point that has been found out by the analysis:

Out of 100, 82 customers are associated with private sector banks rather than

public sector bank because of Speed and quality services offered by private sector

banks.

The survey says that, Most of Service sector companies and Manufacturing

companies use term loans for their working capital requirement. C.C limit service

is mostly used by service sector companies.

Most of the market of Prahlad nagar area is covered by HDFC and ICICI bank.

As per the survey,

Speed and Quality Services,

Image of the bank,

Safe investment,

Variety of services offered,

Convenient Branch Location

Are most important factors for choosing a particular bank.

Corporate customers want speed in handling and processing the banking

operations.

69

Chapter – 7

Recommendations

70

Following are the suggestion and recommendation for KOTAK MAHINDRA BANK

on the bases of survey and analysis:

As per the suggestion of corporate customer they want customize services from

Kotak Mahindra Bank

They should reduce interest on loan and services charges from customers.

They should try to improve their speed of services delivery.

Mainly Kotak provides loans to those corporate customer who want loan of more

than 30 lakh, but there is a high potential of small businesses so, they should also

focus on that.

Give proper Understanding about products and services of bank and discus about

future need of customer with reference to their business model.

71

Chapter – 8

Conclusion

72

This study is conducted to know banking behavior and preference of corporate

customers of Prahalad nagar area towards corporate banking. How they think? What

they want from their banks? and what are the factors that they take in to account while

choosing any particular bank? To find out the answers of these questions, this study

was conducted.

During this study we came in to interaction with many corporate houses, and that

interaction added some values to our knowledge. It was the great experience of

learning real research.

We took responses of corporate customers and hence we came to know that the

preference and banking behavior of corporate customers for corporate banking.

After collection of data we analyzed whole data with the help of SPSS software. This

analysis helped us to get proper knowledge of data analysis.

In this study it is found that the bond of ICICI and HDFC bank with their customer is

good, because of their corporate services. Kotak bank is good in use of technology

like mobile and internet banking amongst the customers.

73

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