kotak report
TRANSCRIPT
Kotak Mahindra Bank Ltd
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A
Report On a Practical Training At Kotak Mahindra Bank Ltd.
PREPARED BY:-
NAME - Vaibhavi Yogesh ShahCLASS - S.Y.B.B.A.ROLL NO - 132COLLAGE - Maharaja Sayajirao UniversityFACULTY - Faculty of CommerceCOURCE - Bachelor of Business AdministrationACADEMIC YEAR - 2013-2014TENURE OF TRAINING - 14.5.2013 to 15.6.2013
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PrefaceIn today’s world due to the rapid
globalization and industrialization there is an extreme need to skilled and trained managerial personnel in each and every field. Owing to this aspect Maharaja Sayajirao University had made efforts by B.B.A programme.
As everyone knows that there is a vast difference between the theoretical and practical field of studies. The students should know how knowledge of the various related subjects are applicable in practical field; this becomes inevitable as per only reason that simply, the students working of the firm, its problems and the applications of the theoretical concepts which they have been studying. Hence in this context the industrial training provides the opportunity to the students to increase and develop their knowledge and skills.
This report is based on the practically of various concepts, ideas, procedures of
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management field, it contains the general information of Kotak Mahindra Bank Ltd.
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ACKNOWLEDGEMENT
I am Vaibhavi Shah a student of Maharaja Sayajirao University. I am glad to present this report. This report contains the practical training analysis and about the “Kotak Mahindra Bank Ltd” In this one month training period it was indeed a glorious and memorable experience for me to undergone training on the firm.
I would like to thanks to the company and its staff especially Mr. steny shahidharan sir of kotak Mahindra bank ltd who helped me throughout the training and provided me all the data and help me in finding solution and practical problem related to the management of the bank .
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Introduction Multiple businesses. One brand.
Kotak Mahindra is one of India's leading banking and financial services groups, offering a wide range of financial services that encompass every sphere of lifeKotak Mahindra Bank Ltd is a one stop shop for all banking needs. The bank offers personal finance solutions of every kind from savings accounts to credit cards, distribution of mutual funds to life insurance products. Kotak Mahindra Bank offers transaction banking, operates lending verticals, manages IPOs and provides working capital loans. Kotak has one of the largest and most respected Wealth Management teams in India, providing the widest range of solutions to high net worth individuals, entrepreneurs, business families and employed professionals.
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Vision The Global Indian Financial Services Brand Our customers will enjoy the benefits of dealing with a global Indian brand that best understands their needs and delivers customized pragmatic solutions across multiple platforms.We will be a world class Indian financial services group. Our technology and best practices will be bench-marked along international lines while our understanding of customers will be uniquely Indian. We will be more than a repository of our customers' savings. We, the group, will be single window to every financial service in a customer's universe.
The Most Preferred Employer in Financial Services A culture of empowerment and a spirit of enterprise attract bright minds with an entrepreneurial streak to join us and stay with us.Working with a home grown professionally managed company, which has partnerships with
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international leaders, gives our people a perspective that is universal as well as unique.
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The Most Trusted Financial Services CompanyWe will create an ethos of trust across all our constituents. Adhering to high standards of compliance and corporate governance will be an integral part of building trust.
Value CreationValue creation rather than size alone will be our business driver.
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GENERAL INFORMATION NAME OF THE UNIT :
Kotak Mahindra Bank Ltd
LOCATION & REGISTERED OFFICE:
Kotak Mahindra Bank LtdAkota, Vadodara Branch,Ground Floor, Shop No.5 &6,Kalpataru Complex,Fp-13, Akota, Tp_1Opp Devdeep Nagar, Old Padra Road,Vadodara-390020.
YEAR OF THE BANK ESTABLISHMENT: February 2003
ESTABLISHMENT OF O.P.ROAD BRANCH : 30 November 2012
BANK: Kotak Mahindra Bank
STATE : Gujarat
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DISTRICT : Vadodara
BRANCH : Akota Branch Baroda
IFSC CODE : KKBK0002744
BRANCH CODE : 002744
FARM OF ORGANISATION: service sector
SIZE OF UNIT: Large Scale Unit
MANAGING DIRECTOR: Mr. Uday S Kotak
BRANCH MANAGER: Mrs. Nirali Haribhakti
TOTAL UNITS: Alkapuri –Kotak Mahindra Bank Trident circle, Trident Complex – Kotak life insurance Karelibaug-Kotak securities VIP road – Kotak Mahindra Bank Ltd
WEBSITE: www.Kotak.com
PHONE NO.: 18001026022
EMAIL ID: [email protected]
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Awards BankingICAI Award
Excellence in Financial Reporting under Category 1 - Banking Sector for the year ending 31st March, 2010
Asia money Best Local Cash Management Bank 2010
IDG India Kotak won the CIO 100 'The Agile 100' award 2010
IDRBT Banking Technology Excellence Awards Best Bank Award in IT Framework and Governance Among Other Banks' – 2009 Banking Technology Award for IT Governance and Value Delivery, 2008
IR Global Rankings12
Best Corporate Governance Practices - Ranked among the top 5 companies in Asia Pacific, 2009Finance Asia
Best Private Bank in India, for Wealth Management business, 2009
Kotak Royal Signature Credit Card Was chosen "Product of the Year" in a survey conducted by Nielsen in 2009
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
Euro money
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Best Private Banking Services (overall), 2009
Emerson Uptime Champion Awards Technology Senate Emerson Uptime Championship Award in the BFSI category, 2008
History and Development Kotak Mahindra Bank Ltd is a charter member of financial planning standards board India (FBSB India) and it encourages financial planning and certified financial planner (CEF) certificationMilestones that have shaped the Kotak Mahindra Group, since 1986 Since the inception of the erstwhile Kotak Mahindra Finance Limited in 1985, it has been a steady and confident journey leading to growth and success. The milestones of the group growth story are listed below year wiseKotak Mahindra Bank is an Indian financial service firm established in 1985. It was previously known as Kotak Mahindra Finance Limited, a non-banking financial company. In February 2003, Kotak Mahindra Finance Ltd, the
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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. Today it has more than 363 branches, 20,000 employees and 10,000 crore in revenue.[2]
Mr. Uday Kotak is Executive Vice Chairman & Managing Director of Kotak Mahindra Bank Ltd. In July 2011 Mr. C. Jayaram and Mr. Dipak Gupta, whole time directors of the Bank, were appointe Joint Managing Directors of Kotak Mahindra Bank. Dr. Shankar Acharya is the chairman of board of Directors in the company.The Bank has its registered office at Nariman Bhavan, Nariman Point, Mumbai.
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HistoryIt bought stressed assets from a number of banks, at full loan value of 1,000 crores in 2005. In January 2011, the bank reported a 32% rise in net profit to 188 crores for the quarter ended December 2010 against 142 crores the corresponding quarter last year. Kotak Mahindra bank also reached the top 100 most trusted brands of India in The Brand Trust Report published by Trust Research Advisory in 2011.Year Milestone
1986
Kotak Mahindra Finance Limited starts the activity of Bill Discounting
1987
Kotak Mahindra Finance Limited enters the Lease and Hire Purchase market
1998
Enters the mutual fund market with the launch of Kotak Mahindra Asset Management Company.
2000
Kotak Mahindra ties up with Old Mutual plc. for the Life Insurance business.
2003
Kotak Mahindra Finance Ltd. converts to a commercial bank - the first Indian company to do so.
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2006
Bought the 25% stake held by Goldman Sachs in Kotak Mahindra Capital Company and Securities
2009
Kotak Mahindra Bank Ltd. Opened a representative office in Dubai
2011
Kotak Mahindra Bank Ltd entered into a Business Cooperation arrangement with CIMB Group, Malaysia.
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Type Public
Traded as BSE: 500247NSE: KOTAKBANK
Industry Financial service
Founded 1985 (as Kotak Mahindra Finance Ltd)
Headquarters Mumbai, Republic of India
Key people Uday Kotak (Vice Chairman) & (MD)
Products
Deposit accounts, Loans, Investment services, Business banking solutions, Treasury and Fixed income products etc.
Revenue 10,963 crore (US$1.9 billion)(2011)[1]
Net income 1,569 crore (US$270 million)(2011)
Website www.kotak.com
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Accounts and services
Current account
Term deposit
Safe deposit lockers
Financial inclusion Saving account
Saving Account Advantage of kotak Mahindra bank is that it gives 6.0% interest p.a. on your Savings Account balance over Rs. 1 lakh. And 5.5% p.a. on balance up to Rs.1 lakh to customers, rather than other bank only give up to 4.0% interest only.There are mainly three accounts important which can be opened in cities.
Ace saving account Pro saving account Edge saving account
Ace saving accou nt The Kotak Ace Account is the top-end variant of the Kotak Savings Account, where you also enjoy a wide range of free services and greater financial flexibility
The Kotak Ace Savings Account with maximum free banking services.
This top end Savings Account variant is suited for those who would like to avail maximum banking and investment related benefits, over and above the numerous FREE services provided by the Kotak Pro Savings Account.Some of the extra benefits of the Kotak Ace Savings Account include:
Free Access to all Domestic VISA ATMs20
Free Gold Debit Card for 1st Year. Free add-on and supplementary debit card for 1st
Year. Three NMC Waived Edge Savings Accounts for
family members* Free Demand Drafts (Unlimited at Kotak locations) Free RTGS Extended Debit Card withdrawal limit of Rs. 1.75
lac per day through ATM / POS 15% Discount on Locker Rent * Waiver on first year Demat Annual maintenance
charge Free outstation cheque collection
Note: customers can enjoy the advantages of the Kotak Ace Savings Account by maintaining an Average Monthly Balance of Rs. 50,000.
Edge saving account The Kotak Pro Savings Account is the most recommended of our Savings Account suite. It offers you the 'best in class' features at a very manageable monthly average balance. As you glance through the numerous features and benefits of this account, you will quickly see why this is truly the new age savings account The Kotak Pro Savings Account with additional free banking services.
This account is ideally suited for those who are interested in availing banking related benefits, as well as taking advantage of the numerous FREE services provided by the Kotak Pro Savings Account.
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Some of the key advantages of the Kotak Pro Savings Account include:
Free Access to all Domestic VISA ATMs Free Gold Debit Card for 1st Year Free Classic Debit Card One NMC Waived Edge Savings Account for your
family member* Free cash pick-up / delivery (5 calls per month) Free instrument pick-up / delivery (5 calls per
month) Free NEFT through Net banking Free Cash withdrawal from any Kotak Branch
across India. 50 % Discount on first year Demat AMC
Note: customers can enjoy the advantages of the Kotak Pro Savings Account by simply maintaining an Average Monthly Balance of Rs. 20,000.
Edge saving accountThe Kotak Edge Account is the basic variant of the Kotak Savings Account. It has been designed to suit the requirements of the new age professional, who wants a bank account to provide that little bit extra to be able to live life worry-free.The Kotak Edge Savings Account with peace of mind.
This account is ideally suited for those who are interested in availing of the banking related benefits, without the additional FREE services provided by the Kotak Pro Savings Account.
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Some of the key benefits of the Kotak Edge Savings Account include:
Free Access to all Kotak Mahindra Bank VISA ATMs. Free Classic Debit Card for 1st Year Free At-par Cheque (up to 25 leaves per qtr.) Free Phone Banking, Net Banking, Mobile Banking
and SMS Banking Free NEFT through Net banking
Note: customers can enjoy the advantages of the Kotak Edge Savings Account by simply maintaining an Average Monthly Balance of Rs. 10,000
Current account Accounts designed for small-mid size business or an enterprise
Kotak Mahindra Bank offers you unparalleled advantages with its three Current Account offerings. Whether you have a small/ mid size business or you are an enterprise spread across multiple locations in the country, you would find a Current Account that's just designed for you. With features ranging from Free DDs, Free Cheque Collection, Free At -Par Cheque facility to Free Trading Account & free Demat Account, and more!
Neo Current Account Features & Benefits
Charges Reversal offer
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Maintain an average balance of Rs 25,000 or more in your account & get 50% of all charges levied, maximum up to Rs 1000, for the services availed during the financial year, reversed after each financial year! Please Note: AQB NMC charges shall be excluded. Average balance shall be calculated over the term of the account in every financial year. The account should be open & should not be in temporary overdraft or dormancy at the end of the year
Unsecured Overdraft Facility Demand Drafts - Enjoy the benefit of DDs
payable at more than 125 Kotak branch locations & more than 1000 Kotak non-branch locations at very nominal charges!
Free NEFT - All NEFT transactions done through Net Banking are absolutely free! Transfer funds across all major banks covering more than 10000 branches at more than 200 locations pan India
Free RTGS Free At - Par Cheques Faster Cheque Collection Better Forex Rates & Efficient Trade Services Multi - City Banking Business Debit Card with Access at all Domestic
VISA and Cash net ATMs Free Cash Deposit at Home Branch-Every
month you can deposit cash at home branch absolutely free up to Rs 2 lakhs.
Cash /Cheque Pickup and Delivery-You can use our 'Home Banking' service for cash pick up or delivery from/to your doorstep upto Rs. 5 lakhs at very nominal charges. You can also use this service for cheque pick up and DD delivery.
Beat Cheque Pick-up-You can get all cheques which are to be deposited in your account, picked
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up from your office every day at a very nominal charge!
SMS Requests and Alerts-Our SMS Requests & Alerts service enable you to track your account transactions through your mobile phone. You shall receive weekly SMS alerts for account balance! Also any large credits/debits, balance below AQB, SI failure and SI successfully executed shall be intimated to you via SMS alerts. You can also request your account balance, last 3 transactions details & cheque book by SMS sent to 9971056767 / 5676788
24 x 7 Phone Banking-Our 24-hrs Customer Contact Center offers you personalized service round the clock. Just pick up the phone and call us on our toll free number 1800 102 6022 pan India.
Net Banking-Log on to our website to avail of our highly convenient Net banking services such as:
1. View account balances2. Download account statement3. Online tax payments through E tax4. Fund transfer5. NEFT payments6. RTGS payments7. Utility Bill payments through Bill Pay8. Credit Card payments through Visa Money
Transfer9. Buying / redemption of mutual funds
Edge current account Features & Benefits
Kotak ActivMoney - ActivMoney gives you the unique opportunity to maximize your returns while offering liquidity at the same time. Daily balances in your Current Account, above a
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certain amount are automatically swept into fixed deposits. The 'swept out amount' is brought back into the account to meet fund requirements when the account balance goes below the threshold level. So you not only enjoy attractive returns on your idle balances but also maximize liquidity.
Unsecured Overdraft Facility Free Demand Drafts
Free NEFT Free RTGS At - Par Cheques Free Cheque Collection Better Forex Rates & Efficient Trade Services Multi - City Banking Business Debit Card with Access at all Domestic VISA and
Cashnet ATMs Free Cash Deposit at Home Branch Cash /Cheque Pickup and Delivery Beat Cheque Pick-up SMS Requests and Alerts Net Banking
Pro current account Key Features
Free DDs, NEFT, RTGS & at - par cheque book Free cheque collection Free cash deposit at home branch Free Home Banking service Kotak ActivMoney Unsecured overdraft facility upto Rs.10 lakhs
Elite current account
Key features
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Free DDs, NEFT, RTGS & at - par cheque book Free cheque collection Free cash deposit at home branch Free Home Banking service Kotak ActivMoney Unsecured overdraft facility up to Rs.10 lakhs
Ace current account
Key Features
Free DDs, NEFT, RTGS & at - par cheque book Free cheque collection & free cheque returns Free cash deposit at home branch Free Home Banking service Kotak ActivMoney Unsecured overdraft facility upto Rs.10 lakhs
Term deposit
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Tax Saving Deposits
Save tax along with great returns over the investment in Kotak Mahindra Bank's Tax Saving Term Deposits. The regular Tax Saving products are available to all resident individuals, HUFs and Minors and the senior citizens' Tax Saving products are available to resident individuals above the age of 60 years.
Reap the benefits of Tax Saving on an amount between Rs. 100 to 100,000 in multiples of Rs. 100.
Choose to receive interest quarterly or keep it invested till maturity.
Tax Saving Deposit can be booked for min 5 year up to 10 year.
Interest rates for Tax Saving TDs for general customers as well as senior citizen are applicable as per their normal schedule.
Partial withdrawal / premature withdrawal are not allowed.
TDS will be applicable as per existing guidelines. Nomination facility is available.
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Sr. No Particulars Regular
(Rs.) Sr Citizen (Rs.)
A Tax Saving Term Deposit amount 10,000 10,000
B Immediate Tax saving (Tax-30.90%) 3,090 3,090
C Effective investment (A-B) 6,910 6,910 D Maturity amount after 5 Yrs 15,227 15,605 E Total Pre Tax Benefit (D-C) 8,317 8,695 F Rate of interest 8.50% 9.00%
G Effective Annualized Yield (5 Yrs) 16.63% 17.39%
Senior citizen depositTo facilitate senior citizens with maximum returns over Term Deposits, Kotak Mahindra Bank offers special rates on these deposits. All Resident Indians Individuals, above 60 years of age can avail benefits of this scheme. New customers need to submit a valid age proof along with the application.
You can book a Term Deposit with an interest payout frequency which suites your requirement i.e. Monthly or Quarterly and you can also keep it invested till maturity.
Key Features
Ease and convenience of operation Liquidity through overdraft or sweep-in facility Partial / Premature withdrawal of Term Deposit permitted. Nomination facility available
Recurring Deposit
A small saving made every month can bring you one step closer to your dreams. Make the smarter choice and save with Kotak Recurring Deposit and maximize the returns from your savings.With Kotak Recurring Deposit, make savings a habit with monthly investment amounts as low as 100/-Watch your money grow:
Per Month RD Instalments ( )
RD Tenure (Months)
Maturity Amount ( )
5000 12 62900
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24 131486 36 206274
Interest calculated at 8.75% p.a. Senior Citizens earn additional 0.50%. After maturity amounts have been rounded off to the nearest rupee. Interest rates are subject to change from time to time. Key Features
Enjoy easy payment options from your Savings/Current Account
No TDS applicable on recurring deposits Simple, safe & risk averse investment option Nomination facility available
Sweep-In Facility
With Sweep-In-Facility you can Link your existing Term Deposit to your Savings or Current Account. In case of a shortfall in the account in processing a debit instruction, the deficit is taken care of by withdrawing an exact value from your Term Deposit. The deposit is broken in units of Re 1/- thereby giving you the convenience of getting payments processed with ease ensuring complete peace of mind. Features & Benefits
Link your Term Deposit to Savings Account or Current Account.
Earn applicable interest on the money till it is swept-in the account, while the remaining Term
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Deposit amount will fetch you interest of Term Deposit at the contracted rate.
Only an exact amount required to make up for the deficit in the account is withdrawn from your Term Deposit in the units of Re. 1/- thereby giving you the convenience of getting payments processed with ease ensuring complete peace of mind
Only the principal amount of the Term Deposit will be considered for the sweep-in facility
Multiple Term Deposits can be linked to your Savings account.
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Safe Deposit Lockers
Kotak Mahindra Bank offers you Safe Deposit Locker facilities which can be utilized to safe keep your important documents, jewellery and other valuables.Key Features
Easy availability and access Convenient sizes Hassle-free payment Nomination for Safe deposit Lockers
Features & Benefits
Easy availability and accessYou can plan your visit and access your locker on all working days during banking hours.
Convenient sizesChoose your own locker size, from a range of options - small, medium and large.
Hassle-free paymentYou can set-up standing instructions on your Savings Account, to pay your annual locker rent.Our Locker Facility enables you to avail Locker in your home branch without the constraint of maintaining a linked deposit. You can also opt for Nomination facility.
Nomination for Safe deposit Lockers1. Nomination facility is available to Individual/
Joint hirer/s of Safe Deposit Locker.
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2. Nomination can be made in favour of only one individual.
3. Safe deposit lockers hired in the names of a minors, the nomination shall be made by the natural guardian/s or court appointed guardians.
4. In the event of the death of a locker-hirer/s for which there is a nomination on record the contents of the locker will be released to the nominee of the hirer, without insistence on a succession certificate or probate of the Will from the legal heirs of the deceased customer.
5. In case of death of a sole locker-hirer without nomination, but there is a probated will available; access will be given to the Executor / Administrator.
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Loans
Kotak Mahindra Bank presents Personal Finance - the single expert source for all your financial needs. Unexpected expenses, education, wedding in the family, home improvement or that long awaited vacation.
Learn more about Loans: Home Loans Personal Loans Kotak Stock Ace Gold Loan Education Loan
Home loan
At Kotak Mahindra Bank, we offer highly customized facilities of availing home loans. Importantly, we appoint a dedicated manager who takes customers through the entire process, starting with the filling in of the application forms and culminating in the loan disbursement process. This otherwise seemingly difficult process is made simpler and more convenient for the customer. Sometimes, customers are unable to spare that extra time from their hectic schedules, and the Bank Doorstep Service makes the home buying process seamless and pleasurable. A relationship that is happy from the start is extended through the attention the customer gets through his loan repayment tenure and beyond. We believe that in order to succeed, we need to offer not only competitive products, but also the best
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possible service and value-added features and benefits. In a market where the basic product is largely similar, the differentiator is our ability to understand the customer's need completely and structure the value-adds appropriately. It is with this thought in mind that we innovate constantly, based on our interaction with the customer. Features & Benefits
The key advantages of Kotak Mahindra Bank Home Loans are:
High Eligibility for Businessmen Doorstep Service Attractive Interest Rates Simplified Documentation Insurance Options to cover your home loans at
attractive premium Quicker Turnaround time
Personal Loans
Our Personal Loans help to make a difference in your life. No matter what your financial needs are - unexpected expenses, school fees, wedding in the family, home improvement or that long awaited vacation. Whatever the occasion, our range of Personal Loans can help.The procedure is simple, documentation is minimal and approval is quick. Features & Benefits
Avail loans from Rs 50,000 - Rs.15 lakhs*: You can avail of a loan from Rs 50,000 - Rs.15 lakhs* for any purpose based on your income and
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repayment capacity and fulfill all your financial needs.
Quick approval: With a Kotak Mahindra Bank Personal Loan, you are not far away from making your dreams come true. In as less as 72 hours you can turn your dreams into reality.
Minimal paperwork & hassle free processing: Our minimal document requirements leave you tension and hassle free. Additionally, worries are kept at bay, as no security or collateral is required.
Flexible repayment options: Our flexible loan tenors range from 12 - 60 months for salaried customers and from 12- 36 months for businessmen / professionals, which don't overburden you with a worry to pay heavy EMIs.
Convenience of service at your doorstep: Our Loans are just a phone call away; you can fix an appointment with any of our representatives and they could assist you in all your loan formalities.
Kotak Stock Ace
Kotak Stock Ace provides gives you the opportunity to capitalize on your investments by providing liquidity against your investment in marketable securities like equity shares, mutual funds, etc by way of an overdraft facility.In addition you can enjoy the benefits of our current account & convenience banking like:Key Features
Multi-city banking
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Complete online access to your funds, for banking and investment ease
Debit Card Access to the entire ATM network 24/7 free Phone Banking service SMS Alerts Service
Gold Loan
Kotak Mahindra Bank now presents Kotak Gold Loan that offers quick and easy financing at very attractive interest rates. With this offering, Kotak brings to you a product designed to make your future full of golden opportunities and growth. Key Features
Instant loan Utmost safety of your gold Minimal documentation Higher Loan to Value Easy repayment with multiple modes Overdraft facility Need not be an existing Kotak Bank customer
Education LoanA loan that helps you fulfills all your educational needs.
Education is the most important investment one makes in life. Therefore, Kotak Mahindra Bank brings to you Education Loans, which aims to finance the meritorious students for pursuing higher education (professional or technical) in India and abroad.
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Features and benefits:
You can avail a loan of up to Rs. 10 Lacs* for education in India and Rs. 20 Lacs* for education abroad based on your income and repayment capacity to fulfill all your financial needs.
Quick approval with a Kotak Mahindra Bank Education Loan, you are not far away from making your dreams come true.
Our minimal documentation requirements leave you relaxed.
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LOCATION ADVANTAGES- This branch has chosen the location of the
unit at about 6 to 7 K.m away from the Baroda city because of few reason
- In that area there were no more other existing bank
- The munjmahuda area is now developing more n more this days due to many companies which are located in outskirts.
- Nearby area all customers can also get home banking facility , they no need to run far away
- Many high class and rich people, and foreigners and do these transactions here because there are many hotels/restaurants and hospital in vincity.
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Marketing Department It is clearly said that Marketing Department is the Front Face of any organization or branch/bank. This is said because marketing is the only means from where the consumers can know about the upcoming products of the firm or organization, which indirectly gives result in increased sales of products.
Marketing in other sense means promoting the product publicity and to bring revenue through sales. Marketing Department does the function of creating demand in people & generates sales from it.
Kotak Mahindra Bank Ltd is having a full-fledged marketing dept. where all the functions related to marketing are performed. As a part of marketing strategy Kotak Bank has increased its home banking facility in each and every area.
PRODUCT PLANNING:-
At kotak branch the market division set up a team which surveys & researches into the need of the
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customers. When branch launches any new product. For. e.g.-when Kotak bank introduced its silk product especially for women. This product is mainly for woman’s who would love to watch movies every month, so the movie Ticket where also available or cash back facility. Firstly needs to be known and as per that facility may be available, silk account also provide junior account free with mother. Also the safety lockers and credit cards were given .Hence, the marketing department informs production department to produce according to the needs of consumers.
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MARKETING RESEARCH Marketing research may be defined as scientific & controlled process of gathering non-routine information regarding the product & its market condition. It helps the management to solve problems.
Marketing research concentrates on the study products planning & development, effectives of personal selling, advertising & sales promotion, distribution system, marketing strategies, market competition, buying behavior & attitude of consumer.
Marketing research is carried out periodically with the help from the students who approach “Kotak Mahindra Bank Ltd” for industrial training. Survey is conducted by the students doing B.B.A. /M.B.A. under the guidance of “Marketing Department”. At the end of the survey, the results are verified & conclusion is abstracted.
The survey form is to be filled by consumers who enjoy the KOTAK benefits or who don’t have that facility in others government Bank. Likewise the need of different types of consumer can be known and improvement can be made further.
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JUST A MOMENTName –
Contact no –
Business/work place/job-
Which bank you are working with?
Does u get 6% interest in your transaction in saving account?
Do you had problems or forget to pay any bills?
Are you in any need of loan?
Are you interested in banking with kotak Mahindra Bank Ltd?
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(Notice-this are the forms to be filled up by new or any old customers for feedback and suggestions)
TARGET MARKET OF KOTAK MAHINDRA BANK LTD-
All the customers of the whole city Baroda is the target market for Kotak Mahindra Bank. Also the town of Baroda city is the target market Kotak transaction & its products. To reach each and every houses and aware about the products through any media like advertising in television, posters, seminars etc
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Kotak Mahindra BankParent Company Privately owned bankCategory Banking ServicesSector Banking and financeTagline/ Slogan Let’s make money simpleUSP Professionalism in Banking
STPSegment Individual and Industry bankingTarget Group Investment SectorPositioning Complete Banking solutions
SWOT Analysis
Strength
1. Innovative financial products of diverse categories2. Kotak Mahindra Finance Ltd. is the first company in the Indian banking history to convert to a bank3. Comprehensive Cash Management System4. Has over 20,000 employees5. Customer account base of over 2.7 million
Weakness 1. Lesser penetration as being late
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entrants2. Low publicity and marketing as compared to other premium banks in the urban areas
Opportunity
1. Increase in Industry banking2. Explore opportunities abroad by International banking
Threats
1. Economic slowdown2. Highly competitive environment3. Stringent Banking Norms
Competition
Competitors
1. Axis bank2. Union Bank of India3. Federal bank
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HUMAN REASOURCE
DEPARTMENT
RECRUITMENT, SELECTION & INDUCTION
Recruitment Procedure:-Recruitment is the process of collective data
and information about these Candidates who are willing to do job in the Organization.
They are using both types of sources for recruitment. Sources of Recruitment:-
1. Internal Sources2. External Sources
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1) INTERNAL SOURCES :-Internal sources means employee are
recruited from within the organization. These types of sources are include transfer promotion, devotion depreciation etc. Generally these sources are given primary important when there is need for recruitment of a person.
For a specific post in Kotak Branch is using these sources extensively as circular is passed in the organization. When is a post vacant due to retirement death present employee? When they are really competent are given opportunity if being permeated to higher post. This is done on the base of their past working records or performance during one or ability to door with responsibility granter also.
2) EXTERNAL SOURCES :External means employees are HR
recruitment outside the organization. These types of sources (Include advertisement education for technical institutions brought employment exchange etc) are of vital importance to the organization because it gives fresh out looks to the organization.
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“Kotak Mahindra Bank also conduct campus interview in education in all colleges like M.S.University and Gujarat University and many more. They select according to the marks scored or different types of skill they required. Sometimes direct recruitment is practical through application from candidates.
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SELECTION “Selection is the process of choosing the
individuals who process the necessary skill, abilities and personality to successfully fill specific jobs in the organization”. Selection process consists of identifying the need for a job, defining the requirements of the most position and the jobholder, advertising the position and choosing the most appropriate persons for the job. Recruiting employees with the correct skills can recruit workers at a wage or salary that the business can afford will reduce costs.
SELECTION PROCESS
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INVITING APPLICATION
PRELIMINARY INTERVIEW
SELECTION INTERVIEW
EMPLOYMENT INTERVIEW
CHECKING OF REFERENCE
GROUP DISCUSSION
PHYSICAL EXAMINATIONS
FINAL SELECTION
EMPLOYEE SELECTION PROCESS Employee selection is the process of putting
right men on right job. It is a procedure of matching organizational requirements with the skills and qualifications of people. Effective selection can be done only when there is effective matching. By selecting best candidate for the required job, the organization will get quality performance of employees. Moreover, organization will face less of absenteeism and employee turnover problems. By selecting right candidate for the required job. Origination will also save time and money. Proper selecting of candidate takes place during selection procedure. All the potential candidates who apply for the given job are tested.
But selection must be differentiated from recruitment, though these are two phases of employment process, recruitment is considered to be a positive process as it motivates more of candidates to apply for the job. It creates a pool of applicants. It is just sourcing of data. While selection is a negative process as the inappropriate candidates are rejected here. Recruitment precedes selection in staffing process. Selection involves choosing the best candidate with best abilities, skills and knowledge for the required job. The Employee selection process takes place in following order:-
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1. Preliminary Interviews: - It is used to eliminate those candidates who do not meet the minimum eligibility criteria laid down by the Organization. The skills, academic and family background, competencies and interests of the candidate are examined during preliminary interview. Preliminary interviews are less formalized and planned than the final interviews. The candidates are given a brief up about the company and the job profile and it is also examined how much the candidate knows about the company. Preliminary interviews are also called screening interviews.
2. Application Blanks: - The candidate who clear the preliminary interviews are required to fill application blank. It contains data record of the candidates such as details about age, qualification, reason for leaving previous job, experience, etc.
3. Written Tests: - Various written tests conducted during selection procedure are aptitude test, intelligence test reasoning test, personality test, etc. These tests are used to objectively assess the potential candidate. They should not be biased.
4. Employment Interviews: - It is a one to one interaction between the interviewer and the potential candidate. It is used to find whether the candidate is best suited for the required job or not. But such interviews consume time and money bot. Moreover the competencies of the candidate
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cannot be judged. Such interviews may be biased at times. Such interviews should be conducted properly. No distractions should be there in room. There should be an honest communication between candidate and interviewer.
5. Medical Examination: - Medical test are conducted to ensure physical fitness of the potential employee. It will decrease chances of employee absenteeism.
6. Appointment letter: - A reference check is made about the candidate selected and then finally he is appointed by giving a formal appointment letter.
First of all for qualified personnel this unit gives advertisement in daily newspaper for particular vacancy and the qualification for that particular post. The persons who have interested for that post, they can apply for this job in the company.
After all the application, they are to be scrutinized. This person who is found to be suitable for job they are to send call letter for interview. In interview, the personnel manager, marketing manager and selection committee ask different types of question to the candidates. These questions are related with the general knowledge and for a particular job. The person, who is found to be suitable in interview, is selected as an employee of “Kotak Mahindra Bank Ltd”
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INDUCTION PROCEDURE
Induction is a technique which a new employee is Real-labilitiated in to the charges surrounding and introduced for the practices policies and purpose of the organization.
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TRAINING AND DEVELOPMENT
Every organization need to have a trained employee Kotak Bank being a developed Branch had realized the importance of training for their employee. It is always necessary to raises the skill level and increase adaptability of employee. Training is a process of leaving sequence of programmed behavior. It is a molding or employee present skill in the light of the requirements of the organization.
Training schedule of kotak bank is prepared as under:
Identifications of the training needs. Training records of all employees. Training feedback.
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Kotak Mahindra Bank gives the following two types of training:-
1)ON THE JOB TRAINING :Coaching MentoringJob rotationJob instruction
2)OFF THE JOB TRAINING :A)LECTURES :
The Kotak branch has organizing behavior of expects to provide off the job training to its managerial personnel. The lectures are organized with co-ordination with various institutes .
B)SELECTIVE READING :The union is provided training of this kind to
its employees.
C)STIMULATING :Stimulating technique like role playing is
applied for training for managerial personnel. In additions of this the union also takes up programs for productivity and mental witness and stability. It also helps to increase potential of the employee. They also call for co-ordination meeting of various departmental heads
PERFORMANCE APPRAISAL
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Performance appraisal is the step where the management fined affective work. Performance appraisals a process of evaluating on employee performance of a job terms of its requirements. Bank prepares confidential reports for each and every individual generally this system of performance appraisal is followed by the government sector organization various departmental head regularly prepared reposts regarding the performance of the sub-ordinates.
This report is kept confidential and it is as used for future reference. Whenever necessary the report is looked upon the non to non appraisal is done. In this performance appraisal period employees appraisal period employees records from is as the under:-
A-1 Employee No.
B-1 Personnel DataName of EmployeeResignation, DivisionQualificationJoining DataLast Data of promotionDate of IssueDate of retirement.
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WAGES AND SALARY – ADMINISTRATION
In Kotak bank compensation is a comprehensive from which include wage salaries and all other allowance and benefits salaries are paid on monthly basis or on the bases or on basis of work done.
At the end of the month personnel department send the order to timekeeping office to submit the files of workers attendance and aim the bases of that they decide the wages and salary of employee. In kotak bank Wages and Salary are paid after 4 the date of every month respectively. The Account department pays wages and salary detail pay is calculated by adding benefits and subtracts the deduction of P.F. and E.S.I schemes.
Some incentive were also give to sales department employees for extra charges of petrol and oil,Data charges of cell phones and others activity.
TIME KEEPING SYSTEMS Time keeping is one of the important things that for each and every of the Employee working hours should be fixed. Office timing:
9.30 p.m. to 08.00 a.m.
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Only 2 holidays per month are allowed more than that there salary is to be cutoff.
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EXECUTIVE SUMMARY
The Kotak Mahindra Bank Ltd. Represents system management of all types of transaction. Profitability of this bank increase year to year.
Study of the Kotak Mahindra Bank Ltd is inspiring me to take finance in future. Its origin and history also understanding the company and finance highlight of the company after completion of industrial training .We gain lots of knowledge about the management of the company.
The main objective of the industrial is practical knowledge about practical work in the company and how to manage to work. Without the organization this type of the bank is still stage of the development of India.
I visited Bank and had my great experience to get knowledge what happened in real finance of business. In company profit, I can know when the bank is started. In marketing department I can know the sales department activity.
I can get the sufficient information regarding finance department because of the finance planning, capitalization stock, capital structure and other information.
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CONCLUSION
These 4 weeks in training has really helped me a lot to gain of practical knowledge from the first day itself. It was so gratifying to work with the Kotak Bank. The internal management of the firm is excellent. It was good and memorable experience to undertake the project work in Kotak Branch. I have nearly learned about all the process.
I must record one aspect that rapid progress has been made by this unit and will get rapid success. The workers of the unit are working by taking the goal of the firm into consideration. The bank has an efficient management and good co-ordination between various departments. The employees working in the bank are very much trained and experienced they are given good facilities that motivate the employees to the work. As there is short for success the bank is outing more efficient to become a No.1 Bank in India. From seeing the entire department, I can conclude that the bank had best, delight future for the coming year.
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I gain lot of knowledge from The Kotak Mahindra Bank Ltd. . I also got to know about the critically handling the situation.
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http://aboutus.kotak.com/ kotak-mahindra-group/our-businesses.html
http://www.kotak.com/ bank/perso nal-banking/cards/.html
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