tqm pareto
TRANSCRIPT
TOTAL QUALITY MANAGEMENT AT HDFC BANK
A Dissertation submitted in partial requirements for the award of MBA Degree of Bangalore University
ByMs Darshana Patel
(Reg no: 04XQCM6021)
Under the guidance ofDr. K V Prabhakar
Senior Professor, MPBIM, Bangalore
M.P. Birla Institute of Management,Associate Bharatiya Vidya Bhavan,
No 53, Race Course Road, Bangalore-560001
2006.
E X ECUT IV E S U MM A R Y
The most important objective of this study is to reduce the
turnaround time taken for a simple account opening. The tools used
to determine the main reasons for such delays are identified in the
Pareto Charts, Service Switching Diagram and surveys through
questionnaires.
The major findings of this research highlight customer
expectation from the banks services, actual and expected turnaround
time for account opening and how they rate their bank in terms of
service provided. It was however found that change in RBI guidelines
was the main cause of such delays with other minor causes.
To eliminate the reasons for delays, separate instruction forms
are recommended titled ìHelp us to serve You betterî that brings
about clarity while filling a form. Also the application forms can be
simplified to make it easy for a lay man to fill in.
The following pages give a detailed study on ìAccount
Opening Delaysî or AOD with suitable recommendations.
M.P.Birla Institute of Management 2Associate Bharatiya Vidya Bhavan
DeclarationI hereby declare that this dissertation entitled, ìTOTAL QUALITY
MANAGEMENT at HDFC Bankî is a bonafide study, completed
under the guidance and supervision of Dr. K V Prabhakar, Senior
Professor, M.P.Birla Institute of Management, Bangalore, (Internal
Guide) and Mr. Baban Balan, HDFC Bank, Bangalore (External
Guide).
I further declare that this dissertation is the result of my own efforts
and that it has not been submitted to any other University or Institute
for the award of a degree or diploma or any degree or other similar
title of recognition.
Place: Bangalore (Ms.Darshana.Patel)
Date:
M.P.Birla Institute of Management 3Associate Bharatiya Vidya Bhavan
Certificate
I hereby certify that this dissertation entitled ìTOTAL QUALITY
MANAGEMENT at HDFC Bankî has been prepared by
Ms.Darshana.Patel under the guidance and supervision of Dr. K V
Prabhakar, Senior Professor, M.P.Birla Institute of Management,
Bangalore. (Internal Guide) and Mr. Baban Balan, HDFC Bank,
Bangalore (External Guide)
Place: BangaloreDate:
(Dr.Nagesh S Malavalli)
Principal
M.P.Birla Institute of Management 4Associate Bharatiya Vidya Bhavan
Certificate
I hereby certify that this dissertation entitled ìTOTAL QUALITY
MANAGEMENT at HDFC Bankî is the result of research work
carried out by Ms.Darshana.Patel under my guidance and supervision.
Place: BangaloreDate: (Dr. K V Prabhakar)
Internal Guide
M.P.Birla Institute of Management 5Associate Bharatiya Vidya Bhavan
External Guides Certificate
M.P.Birla Institute of Management 6Associate Bharatiya Vidya Bhavan
Acknowledgement
It is said ìA teacher affects eternity; he can never tell, where his
influence stops.î
I would like to take this opportunity to thank my project guide,
Dr.K.V.Prabhakar, for highlighting certain aspects that I needed to
cover and also in framing the final report. I would also like to thank
Prof. Shanmugam for his guidance in the area of Quality
Management.
I am also grateful to Mr. Baban Balan, Manager, Quality
Initiatives Group, HDFC Bank, for his guidance and support. Credit
also goes to my parents, without whose moral support and inspiration,
this report would have been incomplete.
My sincere gratitude to Ms. Mona Mitter, Personal
Banker, Kasturba Road branch,HDFC for helping me to choose this
organisation for a detailed study.
T HAN K YO U O NE AND ALL .
M.P.Birla Institute of Management 7Associate Bharatiya Vidya Bhavan
Con ten ts
Particulars Page Number
Introduction 10
Industry Profile 13
Company Profile 17
HDFC and Competitors 21
Area of study 24
Problem Statement 29
Research Objective 32
Research Methodology 34
Research Gap 38
Analysis and Data Interpretation 40
Recommendations 60
Annexure 66
Glossary 71
Bibliography 73
Directions for further research 76
M.P.Birla Institute of Management 8Associate Bharatiya Vidya Bhavan
List o f tab les an d cha rts
Particulars Page Number
Indian Banking Structure 15
Account Opening Procedure 27
Pareto Chart 41-46
Root Cause Diagram 47
Service Switching Behaviour 49
Table 1 52
Chart 1 52
Graph 1 53
Table 2 54
Graph 2 54
Table 3 55
Graph 3 56
Quality Function Deployment 58
M.P.Birla Institute of Management 9Associate Bharatiya Vidya Bhavan
C HA PTER 1: IN TR OD UCTION
M.P.Birla Institute of Management 10Associate Bharatiya Vidya Bhavan
Banking sector faces lot of challenges. It varies from
improving profitability, reinforcing technology, risk
management, customer orientation to meeting international
standards. Each challenge faces a set of steps and procedures.
Lot of care needs to be taken while monitoring them. However,
if at the initial steps, the performance deviates from the
expected standard, the entire process can go haywire.
HDFC wants to implement the concept the Total Quality
Management (TQM) in the process of account openings. A
process is defines as a systematic series of actions directed to
the achievement of a goal. The process therefore has to be:
Goal oriented
Systematic
Capable
Legitimate
TQM also involves Services Process Design and is different
from manufacturing process design. They are-
Output of service processes are not well defined as
manufactured products.
Most service processes involve greater interaction with
customer.
Customers cannot define their needs for services until
after they have some reference or comparison.M.P.Birla Institute of Management 11Associate Bharatiya Vidya Bhavan
In the following pages, we will see how a primary
function of the bank like account opening, even though
perceived simple, undergoes certain procedures. If this
procedure is not carried out effectively initially, it results in
accumulation of delays and brings down the efficiency of the
bank and finally fails to meet the customer's expectation.
In the pages to come, Customer Relationship
Management is leveraged to Account Opening Delays at
HDFC Bank to gain an insight into the banks problem. This
detailed report relates the issue of account opening delays to
the customerís perception of the bank.
M.P.Birla Institute of Management 12Associate Bharatiya Vidya Bhavan
INDUS TR Y PRO FIL E
M.P.Birla Institute of Management 13Associate Bharatiya Vidya Bhavan
The Indian Banking Industry, which is governed by the
Banking Regulation Act of India, 1949 can be broadly
classified into two major categories, non-scheduled banks and
scheduled banks. Scheduled banks comprise commercial banks
and the co-operative banks. In terms of ownership, commercial
banks can be further grouped into nationalized banks, the State
Bank of India and its group banks, regional rural banks and
private sector banks (the old/ new domestic and foreign).
These banks have over 67,000 branches spread across the
country.
The first phase of financial reforms resulted in the
nationalization of 14 major banks in 1969 and resulted in a
shift from Class banking to Mass banking. This in turn resulted
in a significant growth in the geographical coverage of banks.
Every bank had to earmark a minimum percentage of their loan
portfolio to sectors identified as ìpriority sectorsî.
Commercial banks are the oldest and fastest growing
intermediaries in India. They are also the most important
depositories of public savings and most important disbursers of
finance. For a financial system to mobilize and allocate savings
of the country successfully and positively and productively
there must be a class of financial institutions. The structure and
M.P.Birla Institute of Management 14Associate Bharatiya Vidya Bhavan
CommercialBank
working of the banking system are integral to a countryís
financial stability and economic growth.
The following chart gives the structure of the Indian Banking
Indian Banking SystemReserve Bank of India
Scheduled Banks Non-scheduled Banks
State Coop. Banks
Central Coop. Banks& Primary CreditSocieties
CommercialBank
Indian Foreign
Public SectorBanks
Private Sector Banks(Old & New)
State Bank of India& its subsidiaries
Other Nationalised Banks Regional Rural Banks
Industry-
The factors that influence the growth of banks are the following-
1. Increase in national income.
2. Increase in banking habit.
3. Expansion in banking facilities.
4. Inflows of deposits from Non Resident Indians.
M.P.Birla Institute of Management 15Associate Bharatiya Vidya Bhavan
Even though Public Sector Banking accounts for 78% of
total banking industry, use traditional ways of banking, Private
sector banks have pioneered internet banking , phone banking,
ATMís and so on..
The banking industry is currently dominated by the following five
top players-
1. HDFC Bank ñ headed by Aditya Puri
2. ICICI Bank ñ headed by K.V.Kamath (MD & CEO)
3. State Bank of India ñ headed by A.K.Purwar (Chairman)
4. Citibank- headed by Walter Wriston (CEO)
5. Canara Bank- headed by Mr. M B N Rao (CMD)
The following pages will give a detailed insight in to
HDFC Bank, its main competitors and what problems the bank
is facing with respect to account opening delays.
M.P.Birla Institute of Management 16Associate Bharatiya Vidya Bhavan
C HA PTER 2: PR OFILE OF HDFC BANK
M.P.Birla Institute of Management 17Associate Bharatiya Vidya Bhavan
The Housing Development Finance Corporation Limited
(HDFC) was amongst the first to receive an 'in principle'
approval from the Reserve Bank of India (RBI) to set up a
bank in the private sector, as part of the RBI's liberalisation of
the Indian Banking Industry in 1994. The bank was
incorporated in August 1994 in the name of 'HDFC Bank
Limited', with its registered office in Mumbai, India. HDFC
Bank commenced operations as a Scheduled Commercial Bank
in January 1995. HDFC Bank began operations in 1995 with a
simple mission: to be a "World-class Indian Bank".
Its awards and accolades for the year 2005 include the
following-
Asiamoney Awards Best Domestic Commercial Bank
Asiamoney Awards Best Cash Management Bank -
India .
Hong Kong-based Finance Asia
magazine
"Best Bank in India"
Economic Times Awards "Company of the Year" Award
for Corporate Excellence 2004-05.
The Business Today-KPMG Survey published in the leading Indian
business magazine Business Today has named HDFC Bank "Best
Bank in India" for the third consecutive year in 2005.
M.P.Birla Institute of Management 18Associate Bharatiya Vidya Bhavan
The Asset magazine named HDFC Bank "Best Cash Management
Bank" and "Best Trade Finance Bank" in India, in 2006.
HDFC Bank named the "Most Customer Responsive Company -
Banking and Financial Services in The Economic Times - Avaya
Global Connect Customer Responsiveness Awards 2005"
HDFC Bank has been named Best Domestic Bank in India in The
Asset Triple A Country Awards 2005.
It has also received a CII-EXIM Bank Commendation Cert. for
commitment to TQM- 2000.
Currently they have a net profit for the year quarter ended 31st March
2006 of Rs.870.8 Cr.
Ba c k g r o un d
HDFC was incorporated in 1977 with the primary objective of
meeting a social need ñ that of promoting home ownership by
providing long-term finance to households for their housing needs.
HDFC was promoted with an initial share capital of Rs. 100 million.
B us ines s Ob jec tiv es
The primary objective of HDFC is to enhance residential housing
stock in the country through the provision of housing finance in a
systematic and professional manner, and to promote home ownership.
M.P.Birla Institute of Management 19Associate Bharatiya Vidya Bhavan
Another objective is to increase the flow of resources to the housing
sector by integrating the housing finance sector with the overall
domestic financial markets..
O r ga ni sa t i o n a l Goa ls
HDFCís main goals are to a) develop close relationships with
individual households, b) maintain its position as the premier housing
finance institution in the country, c) maintain its position as the
premier housing finance institution in the country d) provide
consistently high returns to shareholders, and e) to grow through
diversification by leveraging off the existing client base.
V I S I O N S T A T E ME N T -To build a world class Indian bank.
MI SS I O N S T A T EME NT ñ Use enabling technologies to provide value added products and
services to customers at value for money price.
SUBSI DI ARI ES AND ASSOCI ATE COMPANI ES
HDFC Bank HDFC Mutual Fund HDFC Standard Life Insurance Company HDFC Realty HDFC Chubb General Insurance Company Ltd. Credit Information Bureau (India) Limited Other Companies Co-Promoted by HDFC
M.P.Birla Institute of Management 20Associate Bharatiya Vidya Bhavan
HDFC AND ITS CO M P ETIT ORS
M.P.Birla Institute of Management 21Associate Bharatiya Vidya Bhavan
The immediate competitor of HDFC Bank is ICICI
Bank. ICICI Bank is India's second-largest bank with total
assets of about Rs.1,676.59 billion(US$ 38.5 billion) at March
31, 2005 and profit after tax of Rs. 20.05 billion(US$ 461
million) for the year ended March 31, 2005 (Rs. 16.37
billion(US$ 376 million) in fiscal 2004). ICICI Bank has a
network of about 573 branches and extension counters and
over 2,000 ATMs. ICICI Bank offers a wide range of banking
products and financial services to corporate and retail
customers through a variety of delivery channels and through
its specialised subsidiaries and affiliates in the areas of
investment banking, life and non-life insurance, venture capital
and asset management. ICICI Bank set up its international
banking group in fiscal 2002 to cater to the cross border needs
of clients and leverage on its domestic banking strengths to
offer products internationally. ICICI Bank currently has
subsidiaries in the United Kingdom, Canada and Russia,
branches in Singapore and Bahrain and representative offices
in the United States, China, United Arab Emirates, Bangladesh
and South Africa.
ICICI Bank's equity shares are listed in India on the Bombay Stock
Exchange and the National Stock Exchange of India Limited and its
American Depositary Receipts (ADRs) are listed on the New York Stock
Exchange (NYSE)
The next competitor bank is State Bank Of India or
SBI.SBI is the largest bank in India with deposits of Rs
M.P.Birla Institute of Management 22Associate Bharatiya Vidya Bhavan
3,67,000 crore as on March 31, 2005. It dominates the Indian
banking sector with a market share of around 20% in terms of
total banking sector deposits. The increasing focus on
upgrading the technology back-bone of the bank will enable it
to leverage its reach better, improve service levels, provide
new delivery platforms, and improve operating efficiency to
counter the threat of competition effectively. Once the core
banking solution (CBS) is fully implemented, it will cover over
10,000 branches and ATMs of the State Bank group, and
emerge as the strongest technology enabled distribution
network in India.
The increasing integration of SBI with its associate
banks (associates) and subsidiaries will further strengthen its
dominant position in the banking sector and position it as the
countryís largest universal bank.
Both these banks apply TQM to the services they
provide. Also there are independent audits, such as Customer
Operations Performance Center (COPC) and the eServices
Capability Model (eSCM). External certifications have two
basic advantages. First, because they are objective evaluations
by credible, independent third parties that measure on specific
operational parameters, the certification process is quite
rigorous and adept at identifying problem areas. Second, they
establish credibility with clients, as the auditing bodies are
neutral and not connected with the vendor in any way.
M.P.Birla Institute of Management 23Associate Bharatiya Vidya Bhavan
C H A P TE R 3: CR I T I C A L I SS U E I N V O L V E D I N T HE S TUD Y
A/C Opening delays at various branches of the bank(South region)
M.P.Birla Institute of Management 24Associate Bharatiya Vidya Bhavan
One of the important functions of the Bank is to accept
deposits from the public for the purpose of lending. In fact,
depositors are the major stakeholders of the Banking System.
The depositors and their interests form the key area of the
regulatory framework for banking in India and this has been
enshrined in the Banking Regulation Act, 1949. The Reserve
Bank of India is empowered to issue directives / advices on
interest rates on deposits and other aspects regarding conduct
of deposit accounts from time to time. With liberalization in
the financial system and deregulation of interest rates, banks
are now free to formulate deposit products within the broad
guidelines issued by the RBI.
This policy document on deposits outlines the guiding
principles in respect of formulation of various deposit products
offered by the Bank and terms and conditions governing the
conduct of the account. The document recognises the rights of
depositors and aims at dissemination of information with
regard to various aspects of acceptance of deposits from the
members of the public, conduct and operations of various
deposits accounts, payment of interest on various deposit
accounts, closure of deposit accounts, method of disposal of
deposits of deceased depositors, etc., for the benefit of
customers. It is expected that this document will impart greater
transparency in dealing with the individual customers and
create awareness among customers of their rights. The ultimateM.P.Birla Institute of Management 25Associate Bharatiya Vidya Bhavan
objective is that the customer will get services they are
rightfully entitled to receive without demand.
While adopting this policy, the bank reiterates its
commitments to individual customers outlined in Bankers' Fair
Practice Code of Indian Banks' Association. This document is
a broad framework under which the rights of common
depositors are recognized. Detailed operational instructions on
various deposit schemes and related services will be issued
from time to time.
As we all know, the primary function of a bank is to
accept funds from public and henceforth, an account needs to
be created. An account opening for a customer is easy as it
involves just filling in a form and submitting it with proper id
proofs. However, for a bank the processing of the application
form involves a set of procedures with costs incurred at every
stage.
The RBI prescribes certain guidelines, which the bank
has to necessarily follow while opening an account.
The following flowchart gives the various procedures involved in opening an account with the HDFC Bank.
M.P.Birla Institute of Management 26Associate Bharatiya Vidya Bhavan
AOProc es s .igx
StartCus
tomer walks i nto
branc h
Sales Pitc h made
Cus tomerdec i des to No
open ac c ount
Appl ic ation form gi ven to
c us tomer Yes A
Cus tomer requires A/c
numberi mmedi atel y
YesIns ta Ac c
ount features explai ned to
c us tomer
Cus tomer c ons ents for Ins ta Ac ount
Yes Ins ta Ac c ountKi t Proc es s ed
No No
Cus tomer fi ll s i n Ac c ount
Opening Form
B
ID Proof Addres s proof Photograph
NoExi s ti ng
c us tomerSati s fac tory
YesSatis fac tory
YesSatis fac
No
tory
PB c ontac ts c us tomer
for addnl doc s
Yes
Val id c us tomer i d provi ded
No
Manager Exc epti
on
No
Yes
No
Manager Exc epti
on
No
Yes
Yes
A
Cus tomer
Cus tomer able to
produc e addnl Doc s
No
Yes
Funds parked in Dummy A/c
A
PB c ontac ts
s ubmits form
Yes
Cus tomer
Ac not opened. MC i s s ued to
c us t for IPfunds
No
Addnl DocVerified by PB
Sati s fac tory
Cl earFunds
avai lable
NoForm returned
to PB
c us tomer to c l ear
exc epti on.
abl e to c lear
exc epti on
No Send doc s to
CPU
Yes
C
Yes
PB AuthChec ks
Appl i c ati on form for
c ompl etenes s
No
ApprovedYes
Couri er ControlSheet prepared Send
forms toCPU
Formsrec ei ved at
CPU
Forms s ent toDVU
DVU Identifies exc epti on
No
Yes
Puts form
Returns form tobranc h C
No
M.P.Birla Instituotneholfd
ManagementDoc 27
s atis fac tory for
Assoc
Forms ent to Branc h s
eeks exc eption
iate Bharatiya Vidya BhavanYes
DVU Yes
Imagi ngDept
approval No Addnl Doc sReqd
NoB
Yes
At the presale stage, the customer has a choice of getting
an Insta Account for an immediate account number or can fill
in the form for a normal one.
Once the form is filled in by the customer, it is verified
by the PB (Personal Banker) and is sent to Chennai for
verification. The PB requires all documents relating to ID
proof, photographs and address proof. Once these are
satisfactory, the funds to open the account are deposited in a
Dummy account and the form is sent to Chennai for further
verification.
In the ìFulfillî step, DVU is Data Verification Unit that
is located in Chennai for south region (for north and west
being Mumbai). Here, it is seen if the application and
documents comply with the rules of the RBI and depending on
the outcome either the account is opened or the form is sent
bank to the branch (can even be put on hold) for additional
documents to be sent in.
The main branches wherein such issues reached an
alarming rate were the following-
Sarjapur
Jaynagar
Indiranagar
M G Road
The following pages will contain a detailed study on the branches and
solutions will be recommended.
M.P.Birla Institute of Management 28Associate Bharatiya Vidya Bhavan
C HA PTER 4 : PR OBLEM STA TEM ENT
M.P.Birla Institute of Management 29Associate Bharatiya Vidya Bhavan
HDFC Bank has 379 branches and 900 ATMs in 183
cities. It has grown at a blistering pace since 1995, with its net
profit growing at an annualised average rate of 104 per cent. Its
retail loans have risen from Rs 845 crore in 2001 to Rs 7,325
crore in 2004. Its size is now comparable to some of the
smaller public sector banks which dominate India's landscape.
The bank opens, on an average atleast 25-30 accounts
per week for its customers compared to its competitors who
have an average of just 15-25 (for ICICI) and 10-12 (for SBI).
However, the recent changes in the RBI rules with respect to
account opening have reduced the efficiency of the bank
thereby causing delays.
Account opening involves various steps and hence
processing expenses and delays occur if the documents do not
suffice. The RBI does not specify the documents to be
obtained. For ensuring this, banks have followed know your
customer norms (KYC). It is for the individual banks to
determine list of acceptable documents. RBI has lately
mandated that certain information pertaining to the applicant
(individual/corporate) need to necessarily be captured at the
time of account opening. This is called the AML/KYC form
(AML-Anti Money Laundering i.e. source or destination of
money is not revealed to the bank).
M.P.Birla Institute of Management 30Associate Bharatiya Vidya Bhavan
The list of documents acceptable is dependent on the
type of accounts being opened. The bank has a comprehensive
list of those documents which are acceptable for various
account types on the basis of type of entity, utility of accounts
and facilities provided. These recent changes brought in by the
RBI with respect to account opening have brought in a
problem of delay in account opening.
M.P.Birla Institute of Management 31Associate Bharatiya Vidya Bhavan
C H A P TER 5 : RE S EA R CH O B J E C TI V E
M.P.Birla Institute of Management 32Associate Bharatiya Vidya Bhavan
The project is undertaken with the following objective-
i. Identifying the branches that are a victim to the
RBIís new rules.
ii. Identifying the main reasons for the delays in
account opening.
iii. Application of various statistical models to
minimize the delays.
iv. Customer expectations about their bank through a
survey with the help of a questionnaire.
M.P.Birla Institute of Management 33Associate Bharatiya Vidya Bhavan
C H A P TER 6 :RE S E AR CH M ET H O DO L O G Y
M.P.Birla Institute of Management 34Associate Bharatiya Vidya Bhavan
The bank has divided the south region as S1 and S2 with
branches under it. Some of these branches have a really high
rate of delays in account opening.
The methodology used to conduct the research for the purpose
of this dissertation includes:
Sample survey of bank customers to gauge an idea on
Customer Satisfaction
Explore reasons for delays in account opening.
Study the database of the bank to get an insight into the
working of the bank and its policies.
To make the above observations, the following tools of Total
Quality Management were used-
Pareto analysis- is a bar chart that illustrates the frequency
recurrence of a set of items. It is a technique based on Pareto
principle of ìthe vital few and trivial manyî. It is also called
the 80-20 rule.
Root-Cause analysis- It is a diagram that gives the
relationship between quality characteristic and its factors. It is
M.P.Birla Institute of Management 35Associate Bharatiya Vidya Bhavan
a pictorial representation and is also called Fish Bone Diagram
or Ishikawa diagram.
Quality Function Deployment- It refers to that concept that
integrates a firms TQM efforts by unifying the four functional
strategies-
1. Marketing
2. Sales
3. Product design
4. Operations management
The main quality characteristic is chosen and the major
causes for the same are listed. Each cause is analysed
thoroughly to find the most influential cause resulting in poor
quality of service delivery. This will vary from place to place
and environment to environment.
Sample Survey- A questionnaire titled ìSERVICE QUALITY
LEVERAGED TO ACQUIRING NEW CUSTOMERS, RETAINING
EXISTING CUSTOMERS AND REGAINING THE LOST
CUSTOMERSî
The questionnaire aims at getting a perception about the
services provided by the bank to the customers and leverage it
to the efficiency of in account opening. The respondents
included customers from HDFC, ICICI, SBI, Citibank, Canara
M.P.Birla Institute of Management 36Associate Bharatiya Vidya Bhavan
bank. A sample questionnaire is enclosed at the end in
Annexure.
The Z test was used to find any significant differences
between the sample mean and a population mean. (The sample
size taken was 50.) It indicates how likely it is that a sample
with a certain mean and standard deviation came from the
population being studiedóthat it has a population mean.
Then, a Z test is applied to verify the hypothesis-
H0: There is no difference between sample values and the population
values.
H1: There is a difference between sample values and the population
values.
The confidence level taken in this study is 95% i.e. z is
greater than 1.96 or less than -1.96, and the difference is statistically
significant. That is, it is so unlikely that the sample came from this
population (5% chance or less) that we reject the null hypothesis and
say that the sample is different from the population.
All the data was fed into an excel sheet and necessary
calculations for Z were done. It included average, median, mode and
standard deviation. The in built statistical functions for a Z test was
used to determine the values and conclusions were drawn based on
the same.
M.P.Birla Institute of Management 37Associate Bharatiya Vidya Bhavan
RES EA RC H GAP
M.P.Birla Institute of Management 38Associate Bharatiya Vidya Bhavan
The research includes analyzing the process of account
opening. This procedure itself is divided into separate functions and
is distribute in two places (Bangalore and Chennai). Hence, the study
is focused mainly on problems at Bangalore and the problems faced
in Chennai remain undiscovered.
Also, the survey was used to gauge customersí
perceptions about their banks, the size of the sample is not very large
and hence any predictions made on the population, may at times be
inaccurate.
However, despite the gaps, an effort has been made to
throw light on the process of account opening and the defects related
to it. This had been leveraged to the concept of Customer
Relationship Management.
M.P.Birla Institute of Management 39Associate Bharatiya Vidya Bhavan
C H A P TER 7 : ANALY S IS AND D A TA INT E RPR E TAT I O N
M.P.Birla Institute of Management 40Associate Bharatiya Vidya Bhavan
Val
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Pareto analysis
It was identified that certain branches in S1 and S2 were reaching a
high AOD Rate (Account Opening Delay). On a detailed study it was
found that the following branches in S1 and S2 were the main
branches with high AODís. The Pareto charts are given below related
to S1 and S2.
South 1
25 120.0020 100.0015 80.00
60.0010 40.00
5 20.000 0.00
In numbers
Cumalative
Bra nche s
Source-Field Investigation
M.P.Birla Institute of Management 41Associate Bharatiya Vidya Bhavan
South 2
140120100
80604020
0
120.00100.0080.0060.0040.0020.000.00
In numbers
Cumalative
Branche s
Source-Field Investigation
The study in depth is divided into 4 branches wherein
delays had reached an alarming rate compared to its
competitors.
The branches visited were that of Sarjapur, M G Road,
Jaynagar and Indiranagar, from which relevant information had
to be extracted from their database. (The data is ranges from
4th February to 2nd May). Major reasons were identified and
tabulated to give the following Pareto charts for each branch-
M.P.Birla Institute of Management 42Associate Bharatiya Vidya Bhavan
30 120.00
25 100.00
20 80.00
15 60.00
10 40.00
5 20.00
0 0.00
At Sa rja pur Bra nch, HDFC Ba n k.
in numbers
cumalative
Source-Field Investigation
Ob s e r v a t i o n
At this branch, most of the account holders were employees of
Wipro. A bank official from this branch sits at the Wipro office and
handles all queries of the account holders through e mails. On
speaking to the official there, it was found that the introduction letter
to the bank was signed by the team lead. Presently, due to change in
the company policies, the signature of a senior level management is
required. This causes a delay in the bank procedure of account
opening. It was also found that the bank was understaffed.
M.P.Birla Institute of Management 43Associate Bharatiya Vidya Bhavan
30 120.00
25 100.00
20 80.00
15 60.00
10 40.00
5 20.00
0 0.00
Intr
oduc
tion
lette
r/ID
R
eqd
Sig
natu
reR
elat
ed
Adr
ess
rela
ted
Nam
ere
late
d
Co
Info
not
give
n
Oth
ers
At M G Roa d Bra nch, HDFC Ba n k
In numbers
Cumalative
Source-Field Investigation
Ob s e r v a t i o n
This branch has a lot of corporate accounts and the value of
transactions is also huge. Due to this it was found that most of the
delays were caused by no proper introduction letter or ID proof
(Refer graph). Either the company information was inadequate or
there was a signature mismatch.
M.P.Birla Institute of Management 44Associate Bharatiya Vidya Bhavan
Sig
natu
rere
late
d
Add
ress
rela
ted(
142
&14
3)
Intr
oduc
tion
lette
r no
t gi
ven/
ID
Nam
e re
late
d
Boa
rdre
solu
tion
is
self
atte
sted
Cod
edi
ffers
(pro
duc
t and
LC
co
de)
Per
man
ent
add
reqd
inA
ML
form FD
rela
ted
Bra
nch
code
not i
ndic
ated
At J ay naga r bra nch, HDFC Ba n k.
14 120.00
12 100.00
1080.00
860.00
640.004
2 20.00
In numbers
Cumalative
0 0.00
Source-Field Investigation
Obs erva tio n
This branch even though was well managed; the wok load seemed to
be very heavy on all working days of the bank. The highest rate of
delays was caused by signature mismatch. The increase of work load
seemed to be the major cause of reducing the efficiency of the bank.
Also, the new concept of AML form seemed to cause a lot of
inconvenience to the customers (refer Glossary for the meaning of
AML).
M.P.Birla Institute of Management 45Associate Bharatiya Vidya Bhavan
30 120.00
25 100.00
20 80.00
15 60.00
10 40.00
5 20.00
0 0.00
At I ndi ra na ga r branch, HDFC Ba n k
In numbers
cumalative
Source-Field Investigation
Obs erva tio n
This branch was the most unorganized of all the above. The work
load was very high and the staff was unable to cope up to the work
pressure. There was no proper co ordination between the employees
and customers kept coming back with complaints that irked the staff
as well as the customers.
The above Pareto charts represent the reasons for which
the application forms were rejected with the contributions of
each reason indicated in the dotted lines. The meaning of
certain banking terms are indicated in the glossary at the end.
M.P.Birla Institute of Management 46Associate Bharatiya Vidya Bhavan
RECOMMENDATIONS
Root Cause AnalysisThis approach was used to analyse, in detail, the reasons that
contribute to the delays in account opening. On observing the
customer database and working of the banks, the following Fish Bone
Diagram was formed.
CustomersEmployees Training
4 81
52
6 93 Account7 Opening Delays
10 (AOD)
1311
1412
ExternalFactors
ManagementPolicies
M.P.Birla Institute of Management 47Associate Bharatiya Vidya Bhavan
The numbers in the Root Cause Diagram indicated the following sub
causes. These sub causes are a result of observations and analysis of
database at the
Sub reason Number Reason
1 Customers are in hurry
2 Customers are illiterate
3 Customer needs to be educated on bank
needs and requirements
4 Increase of work load
5 Reduction in efficiency due to
miscommunications
6 Multi tasking
7 Communication gaps
8 Orientation
9 Fundamentals not clear
10 Change in RBI guidelines
11 Break down of support systems
12 Other uncontrollable factors
13 Lengthy procedures for just a verification
14 Application form is labourious to fill
The sub reasons identified are a result of observing the process the
bank follows to open an account. The main reasons are the parties
involved in account opening.
M.P.Birla Institute of Management 48Associate Bharatiya Vidya Bhavan
The following diagram gives another aspect to AOD that may result
in service switching behaviour that needs to be avoided in any
organisation.
SERVI CE SWI TCHI NG DI AGRAM
Inconvenience Response toService Failure
Service Switching Behaviour
Service Encounter Failures
Core ServiceFailures
Competition
M.P.Birla Institute of Management 49Associate Bharatiya Vidya Bhavan
The head Inconvenience includes-
Location or time slots allotted
Waiting for service
The head Service Encounter Failure includes-
Uncaring
Impolite
Unknowledgeable
The head Responsive Service Failure includes-
Negative response
Reluctant response
The head Competition includes-
Found better service elsewhere
The head Core Service Failure includes-
Service mistakes
Processing errors
Service catastrophe
The survey conducted will reveal if the bankís services suffer from
any of the above traits. Also, it will aim at measuring the level of
satisfaction the customers have when it comes to transacting with
their bank.
M.P.Birla Institute of Management 50Associate Bharatiya Vidya Bhavan
Su r v e y with qu e sti onna i r e
The survey done with the help of questionnaire was aimed at
knowing the customers perception about their bank. The
questionnaire was filled in by customers of the following banks to
facilitate a comparative study of their efficiencies and leveraging it to
account opening. The aim was also to find out the effect of the sub
causes (mentioned in the Root Cause Diagram) on account opening
and to what extent it affected the banks mentioned.
The banks were-
HDFC Bank
ICICI Bank
SBI
Citibank
Canara Bank
The hypothesis is framed as follows-
H0: There is no difference between sample values and the population
values.
H1: There is a difference between sample values and the population
values.
The following findings show that H0 is accepted.
The survey done, revealed the following findings.
M.P.Birla Institute of Management 51Associate Bharatiya Vidya Bhavan
T a b l e 1
The table will correlate the time taken by the three banks (HDFC,
ICICI and SBI) to open an account. This will show the efficiency of
the banks and will indicate which bank has a competitive advantage.
Bank name
Instantly Withinone hour
Withinone day
Morethan twodays
Total
HDFC 1 0 7 1 9ICICI 3 0 2 4 9SBI 1 1 2 3 9Citibank 1 3 2 9Canarabank
1 1 1 6 9
Total 7 2 15 16 45
Cha rt1Source-Field Investigation
Name ofbank
Average Median StandardDeviation
Z value
HDFC2.25 1 3.20 .68
ICICI2.25 2.5 2 .81
SBI2.25 1.5 2 .79
Citibank3 3 2 .50
CanaraBank
2.25 1 2.50 .73
Source-Field Investigation
M.P.Birla Institute of Management 52Associate Bharatiya Vidya Bhavan
Gra ph 1
Time taken by banks to open accounts
876543210
HDFC ICICI SBI Citibank CanaraBank
InstantlyWithin one hour Within one day More than 2 days
Bank
Source-Field Investigation
I nterpre ta tio n
From the above tabulated data, it is seen that most of the banks open
accounts of their customers in more than two days. HDFC Bank has
the highest reading of ìwithin one dayî category. Inspite of this, it
faces problems in certain branches that have been identified before.
However it faces close competition with ICICI and SBI bank in the
ìwithin one dayî category. From the z test done for the sample, all
the values lie between +1.96 to -1.96, and hence it the null hypothesis
can be accepted and it can be said that the sample does not differ
from the population.
M.P.Birla Institute of Management 53Associate Bharatiya Vidya Bhavan
Ta ble 2 : P ercei v e d le v els o f s er v ic e s by cu s t o m e rs a t t heir b a n k s ( o ut o f 9 ) .
Statements HDFC ICICI SBI CitibankCanaraBank
Prompt service 6 6.16 5.83 7.83 6.11
Courteous employees 6.87 5.83 6.167 7.5 6.17
Caring employees 5.89 5.5 5.33 7.33 5.67
Services at promised time 7 6.167 4.83 8.33 6.11
Visually appealing 6.5 6.67 4.83 6.5 5.89
Willingness to help 6.7 5.67 6.167 7.67 6.22
Instills confidence 6.78 6.167 5.167 6.5 6.56
Feel safe while transacting 8.11 6.167 7 7.67 7.64
Source-Field Investigation
Gra ph 2Perceived service levels of customers from their banks
1086420
Prompt service
Courteous employees
Caring employees
Services at promised
time
Visually appealing
Willingness to help
Instills confidence
Made to feel safe while
transacting
HDFC
ICICI
SBI
Citibank
Canara Bank
Characteristics
Source-Field Investigation
M.P.Birla Institute of Management 54Associate Bharatiya Vidya Bhavan
I n t erpr e t a t i o n
We see that HDFC is perceived to be the safest bank while Citibank
is perceived to be the most prompt bank. This is because Citibank
encourages net banking and imposes a fine on the customer if he
enters the branch for a simple query. ICICI though is a close
competitor of HDFC. However, it was found in the survey that the
traits of ìcourteous employeesî and ìcaring for customersî
were deteriorating. SBI is not perceived to be visually
appealing. Old customers are used to the banks ways and are
satisfied. However, the new customers expect more from the bank.
Ta ble 3
Name of bank Overall rating of the bank (out of 9)HDFC 6.78ICICI 5.5SBI 6.73Citibank 7Canara Bank 6
Source-Field Investigation
M.P.Birla Institute of Management 55Associate Bharatiya Vidya Bhavan
Gra ph 3
Overall Rating of the banks
86.78
7
6
5
4
3
2
1
0
5.5
6.73 7
6
HDFC ICICI SBI Citibank Canara Bank
Source-Field Investigation
I nterpre ta tio n
According to a recent survey, it was revealed that the top most
respected bank in India today is SBI after which ranks HDFC,
Citibank, ICICI Bank and finally Punjab National Bank. However,
when it comes to customer satisfaction in this survey, Citibank
customers were the most satisfied as Net banking saved them lot of
time and money. Hence it has the highest rating.
M.P.Birla Institute of Management 56Associate Bharatiya Vidya Bhavan
Quality Function Deployment
QFD is an excellent way of capturing ìvoice of customersî. It
refers to both determining what will satisfy the customer and
secondly, translating those customer desires into the target design. In
the manufacturing industry, it is used early in the production process
to determine what will satisfy the customer and also where to deploy
quality efforts.
The two terms essential here are Expected quality and Exciting
quality. Expected quality in this research refers to the fact that
customers expect their account to be opened in a day or two. Exciting
quality refers to traits that a customer does not expect and enhances
the value of the product or process.
The QFD process is linked by the following matrices-
M.P.Birla Institute of Management 57Associate Bharatiya Vidya Bhavan
Th e Qua lity Fun ctio n De p loy men t Pr o cess
4Operating
Instructions
1Customer
Requirement PlanningMatrix
3Process Plan and Quality
ControlCharts
2Technical Features
DeploymentMatrix
M.P.Birla Institute of Management 58Associate Bharatiya Vidya Bhavan
In the first matrix of Customer Requirements and Planning
identification of expected and exciting quality is done. In the survey
it was revealed that customers wanted their accounts to be opened
instantly or hardly in a day. To provide for exciting quality, HDFC
has offered schemes to account opening to add value to its services.
Technical features deployment translates the features of the
service to customer requirements. Here, services can be efficient to
reduce turn around time in account opening delays.
Technical features deployment controls the critical processes
with the help of quality control charts and process plans.
The final step of operating instructions ensures that the bankers
contribute to the firmís efforts to meet the requirements set down in
the processes and services parameters.
M.P.Birla Institute of Management 59Associate Bharatiya Vidya Bhavan
C H A P T E R 8: REC O MM EN D AT I O N S
M.P.Birla Institute of Management 60Associate Bharatiya Vidya Bhavan
The main causes of delays are identified now. If the very
initial step of ìfilling inî the application form is taken care of,
the rate of delays will reduce. It resembles the proverb ìA
battle well begun is half won.î
Hence the following suggestions are recommended-
Separate time slots can be allotted initially for accepting
application forms, or even a separate counter can be
maintained at the beginning to facilitate individual attention.
This assistance provided to the customer will make sure that
the form will be defect free.
All details regarding the id proof can be explained to him. It
was found in the survey that many of them forget how they
have signed in the application form. Hence, a counterfoil can
be given to the customer that contains his signature that he can
refer to in future if he forgets the way he has signed. Also, the
bank can explain their inability to the customer to process the
application form if his signature differs from the documents
presented for id proof. In such cases, a fresh form is filled that
irks the customer too.
M.P.Birla Institute of Management 61Associate Bharatiya Vidya Bhavan
If the bank is not able to do the above, then when the
application form is handed over to the customer, a separate
instruction titled ìHelp us serve You betterî can be given that
contains all the requirements of the bank with respect to types
of id proofs needed and other requirements based on customer
type (i.e. individual, joint, company accounts etc.)
The Personal Banker needs to verify the documents before it is
sent to the head office at Chennai. If he is doubtful about the
form being accepted, (yet it is sent Chennai) he may ask the
customer to keep additional documents ready as id proof rather
than wait till the form is sent back to the respective branch.
When the customer is asked to fill in the application form, it
has to be found out if he is an existing or a new customer.
Existing customersí details are already keyed into the system
and hence the bank can take advantage of this and reduce the
time taken to process the account opening. Separate
application forms can be designed for existing customers and
the processing of these can be diverted to a separate
department so that the Data Verification Unit and Imaging
departments can concentrate on the forms of new customers.
This will also reduce the work load of the departments and
increase efficiency and accuracy.
M.P.Birla Institute of Management 62Associate Bharatiya Vidya Bhavan
In the survey, customers revealed that they found the filling in
of application forms a labourious job. Also, they were
apprehensive about filling in the form by themselves and
preferred to fill in, in the presence of a bank official to avoid
mistakes. Hence the bank can encourage net banking or
simplify the application form to reduce the customersí
apprehensions.
The bank needs to courier the application forms to Chennai.
Inspite, it can fax it or scan it to the head office. If this does not
work out, the bank can think of setting up a separate branch in
Bangalore itself so that the turnaround time (presently 4
working days) can be reduced. Aspects like time and cost can
be reduced and thereby the bankís efficiency can be leveraged.
It was found in the survey that Citibank had a very innovative
idea to receive feedback from its customers. They send out a
periodic questionnaire to its customers and every filled and
submitted form would receive an incentive in the form of small
gift like pens, diaries, desk calendars etc.. HDFC bank can
apply the same procedure to reduce their costs and at the same
time get back valuable feedback. Also, it can discourage
customers to come to branch for any queries as it will cost the
bank to attend a customer just for a simple issue. CustomerM.P.Birla Institute of Management 63Associate Bharatiya Vidya Bhavan
friendly websites can be designed to facilitate easy net banking
to allow the bank to concentrate on other important issues. If
this is not feasible for all customers, this can be encouraged
among senior citizens and working officials.
It can be said that HDFC Bank is one of the most popular
banks when it comes to customer satisfaction despite its
conventional method of banking. It lives up to its punch line-
Unmatched features . World class services. It is Indiaís leading
private sector bank. (An established brand in itself.)
A customer enters into a bank with a decision to open an
account only if he feels it is safe to transact with it and if he
feels that the bank will live up to his expectations. Hence,
account opening procedures can be simplified by the above
suggestions and points to ponder on are highlighted in the Root
Cause diagram and the Service Switching Diagram.
Macro-level recommendations:
Provide the bank employees first-hand best corporate
practices
Expose the bank employees to the environment in which
the bank customers use the bank's services
M.P.Birla Institute of Management 64Associate Bharatiya Vidya Bhavan
Constantly retrain the bank staff in the theory and practice
of TQM
Showcase the customer quality
Establish a continuous improvement culture in the Bank
Initiate vigorously continuous process improvement in the
Bank. The process improvement can be brought about by;
(a) Breakthrough thinking;
(b) process stabilization; and
(c) Incremental improvement.
The following tools for continuous improvement in the
quality of service in the Bank are quite helpful:
1. Brainstorming
2. Process mapping
3. Cause and effect diagrams
4. Asking why (five times)
5. Check sheets
6. Pareto analysis
7. Matrix analysis
8. Consensus building
9. Paired comparisons/emphasis on curve ranking
10.Force field analysis
11.Team purpose analysis
12.Cost/benefit analysis
13.Priorities grid
14.Time-cost analysis
M.P.Birla Institute of Management 65Associate Bharatiya Vidya Bhavan
ANN E X UR E A sample questionnaire is given below that was used in the survey.
M P Birla Institute of ManagementBangalore
(Associate Bharatiya Vidya Bhavan)
I am a student of M P Birla Institute of Management,
Bangalore, pursuing my MBA program. As a part of the
MBA curriculum, I have taken up a research project on
ìService Quality Leveraged to acquiring new customers,
retaining existing customers and regaining the lost
customersî. In this connection I need some information from
you. The questionnaire is, herewith, enclosed. Kindly give
your responses to the questions. I sincerely assure you that
your responses will be kept strictly confidential and shall
only be used for academic purpose. I shall greatly appreciate
your cooperation.
Ms Darshana Patel
M.P.Birla Institute of Management 66Associate Bharatiya Vidya Bhavan
SE RV I C E Q UA L I T Y LE V E RA GED TO AC Q U I R I N G N EW CU STO M E R S, R ET A I N I N G E X I S T I N G CU STO M E R S AN D
R EG A I N I N G THE LOST CU STO M E R S
(A research project for HDFC Bank, Bangalore)
Name:
Gender:
Age:
Occupation:
Name of your Bank:
Type of account held: Savings Bank Current account Term Deposit Recurring Deposit
M.P.Birla Institute of Management 67Associate Bharatiya Vidya Bhavan
Time taken by your bank to open your account: Instantly Within one hour Within one day More than two days
How long have you been a customer: Less than a year One to two years Two to five years More than five years
P AR T - I
I would like to know your impression about how well your bank provides services relative to your expectations. Please think about the2 levels of expectations defined below:Minimum Service Level: The minimum level of service you consider adequate.Desired Service Level: The level of service performance you desire.
For each of the following statements please indicate ñ(a) your minimum service level by encircling one of the numbers in the first column.(b)your desired service level by encircling one of the numbers in the second column(c) your perception of service by encircling one of the numbers in the third column.
M.P.Birla Institute of Management 68Associate Bharatiya Vidya Bhavan
When it comes to -
My minimum level of service is:
My Desired level of service is:
My Perception of performance is:
1. Promptservice to customers
1 2 3 4 5 6 7 8 9 1 2 3 4 5 6 7 89
1 2 3 4 5 6 78 9
2.Employees who areconsistently courteous
1 2 3 4 5 6 7 8 9 1 2 3 4 5 6 7 89
1 2 3 4 5 6 78 9
3.Employees deal withcustomers in caring fashion
1 2 3 4 5 6 7 8 9 1 2 3 4 5 6 7 89
1 2 3 4 5 6 78 9
4.Providesservice at promised time
1 2 3 4 5 6 7 8 9 1 2 3 4 5 6 7 89
1 2 3 4 5 6 78 9
5. Visuallyappealing materialsassociatedwith services(eg.in-bank signs)
1 2 3 4 5 6 7 8 9 1 2 3 4 5 6 7 89
1 2 3 4 5 6 78 9
6.Willingnessto help customers
1 2 3 4 5 6 7 8 9 1 2 3 4 5 6 7 89
1 2 3 4 5 6 78 9
7.Employeesinstill confidence in customers
1 2 3 4 5 6 7 8 9 1 2 3 4 5 6 7 89
1 2 3 4 5 6 78 9
8.Makingcustomers feel safe intransactions
1 2 3 4 5 6 7 8 9 1 2 3 4 5 6 7 89
1 2 3 4 5 6 78 9
M.P.Birla Institute of Management 69Associate Bharatiya Vidya Bhavan
P AR T- I I 1. How would you rate the overall quality of services provided by thebank?(Circle one number below)
Extremely poor Extremely good
1 2 3 4 5 6 7 8 9
2. Listed below are 5 general features pertaining to the bank and services it offers. I would like to know how important each of these features are to you. Please allocate a total of 100 points among the following 5 features-Please be sure that the points you give add up to 100
1. The appearance of the bankís physical facilities, Fixtures,personnel and communications material points
2. The bankís ability to perform the promised services dependablyand accurately points
3. The bankís willingness to help the customers and provide promptservices points
4. The knowledge and courtesy of the bankís employees and theirability to convey thrust and confidence points
5. The caring, individualized attention the bank provides to you points
Total Points allocated 100 PointsT HANK YOU F OR S PARING YOUR VA L U A BL E T I M E IN G IVING
YOUR R ES P ON SE S
M.P.Birla Institute of Management 70Associate Bharatiya Vidya Bhavan
GL OSS AR Y
M.P.Birla Institute of Management 71Associate Bharatiya Vidya Bhavan
The study includes few banking terminologies. Their meanings are
given below-
No Posting- Funds that need to be parked in dummy account
are not yet done i.e. not posted.
AML- Anti Money Laundering. A set of procedures, laws or
regulations designed to stop the practice of generating income
through illegal actions. In most cases money launderers hide
their actions through a series of steps that make it look like
money coming from illegal or unethical sources was earned
legitimately.
Pan form 60- Permanent Account Number is a number by
which the Assessing Officer can identify any person. Presently
the Income Tax Department is allotting PAN under the New
Series to all assessees which consists of ten alphanumeric
characters and is issued in the form of a laminated card. The
General Index Register Number is a number given an
Assessing Officer to the assessees in the General Index
Register maintained by him whichalso contains the
designation and the particulars of the Assessing Officer
M.P.Birla Institute of Management 72Associate Bharatiya Vidya Bhavan
BIBL IO GR APHY
M.P.Birla Institute of Management 73Associate Bharatiya Vidya Bhavan
This research project is well supported by facts from the following
journals and websites-
Books:
"Total Quality Management" by Mr. Sridhar Bhatt (7th Edition)
"Banks and Financial Institutions" by Mr. L M Bhole , Tata
McGraw -Hill Publications, 4th Edition
"Total Quality Management" by Oakland John S, Heinemann
publications, 1980
"How to Lead Your Business Beyond TQM" by Michel E
Joyce, Pitman Publications, 1995
"Quality Improvement through Standards" by Dale Barrie G
and Oakland John S, Stanley Thornes Publishers Ltd.,
London 2000
"What is Total Quality Control" by Ishikawa Kaoru
(Translated by David J Luj), Prentice Hall Publications NJ,
2004
"Quality, Productivity and Competitive Position" by Deming
Walter F, MIT Cambridge, Mass Publications, 20M.P.Birla Institute of Management 74Associate Bharatiya Vidya Bhavan
Business Magazines:
Business World
Business Standard
Economic Times
Financial Express
Business India
Fortune
Websites Used:
www.go ogl e.co m
www.hd fcbank .co m
www.bu sin ess week .co m
M.P.Birla Institute of Management 75Associate Bharatiya Vidya Bhavan
DIR E C T I O NS F O R F U RT H ER RE S E A R C H
M.P.Birla Institute of Management 76Associate Bharatiya Vidya Bhavan
Based on our research findings, I give below fertile areas for future
research:
Energizing the Customer Care through TQM
Making World Class Performance a Reality through TQM
Bench marking the Best Corporate Practices in the Application
of TQM in the Banking Sector
Cascading Effects of TQM on the Performance of Banks
Using Banking Resources Effectively through Total Quality
Management
Total Quality Control-The Japanese Way in the Banking
Sector
Appropriate Tools of TQM in Banking Operations
Flow Charting the Customer Service Operations through TQM
in Banking Sector
In our view, the aforesaid areas constitute 'green pasture' for future
research in this vital segment of the Banking Sector. Perhaps the line
of thinking, on which our research investigation is based, is quite
helpful.
M.P.Birla Institute of Management 77Associate Bharatiya Vidya Bhavan
M.P.Birla Institute of Management 78Associate Bharatiya Vidya Bhavan