Final Report

PROGRESS REPORT FOR SUMMER PROJECT

ON

BANKING

AT

COMPANY GUIDE FACULTY GUIDE================= =================MR. ABHISHEK KHAJURIA PROF. NARESH SHARMABRANCH MANAGER UNIVERSITY OFJAMMU

KATHUA, J&K THE MANAGEMENT SCHOOL KATHUA CAMPUS

Prepared By:

SOURAB KHAJURIA

Roll No. 77-MBA-11

MEMO OF TRANSMITTAL

This report has been submitted as per request to Mr Abhishek Khajuria (HDFC Bank Manager, Kathua

Branch) and Prof. Naresh Sharma(Faculty,University of Jammu) towards the completion of my

Summer Internship at HDFC Bank, Kathua Branch. I have studied the process followed by HDFC for

the banking operations and employee engagement and have made suggestions for

changes/improvements in the process in consultation with the Branch Manager.

The objective behind writing this report was twofold. Firstly, it gave me an opportunity to conceptual

framework behind banking operations and functioning in India as prescribed by RBI (such as KYI etc)

and those followed by HDFC to cater to the needs of the residents of Kathua as well those of the

industrial establishment in Kathua region. Secondly, it fulfils my course curriculum requirements at

The Management School, University Of Jammu.

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ACKNOWLEDGEMENTS

At the outset I would like to thank HDFC for providing me the opportunity to attend the summer

internship program at the HDFC Retail Branch in Kathua (J&K). The Summer Internship Program has

been a great value addition to my profile and I hope to contribute immensely towards the banking

sector provided I get an opportunity to do it in the later years of my career. It was a pleasing

experience to work on this project under the guidance of Mr Abhishek Khajuria. I extend my sincere

gratitude to him for his support and guidance for the project. I also extend my sincere gratitude to all

the colleagues and seniors at HDFC, and Prof Naresh Sharma (Faculty, The Management School.

University Of Jammu) for the support and guidance during various stages of the project. I would also

like to thank all the clients of HDFC who took time out of their busy schedule and contributed

immensely in helping me complete the project.

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Table of ContentsEXECUTIVE SUMMARY...........................................................................................................................1

1. Banking Structure in India..............................................................................................................3

1.1. State bank group....................................................................................................................4

1.2. Nationalized banks.................................................................................................................4

1.3. Regional Rural Banks (RRBs)..................................................................................................4

2. HDFC Bank.....................................................................................................................................4

2.1. Promoters..............................................................................................................................5

2.2. Business Focus.......................................................................................................................5

2.3. Capital Structure....................................................................................................................5

2.4. Amalgamation of Times Bank and Centurion Bank of Punjab with HDFC Bank.....................6

2.5. Distribution Network.............................................................................................................6

2.6. Management.........................................................................................................................7

2.7. Technology used in HDFC Bank..............................................................................................7

2.8. Business Profile......................................................................................................................8

2.8.1. Wholesale Banking.............................................................................................................8

2.8.2. Treasury.............................................................................................................................9

2.8.3. Retail Banking....................................................................................................................9

2.9. Ratings/Rewards..................................................................................................................10

2.10. Corporate Governance Rating..........................................................................................10

2.11. Positioning Strategy:........................................................................................................11

2.12. Swot Analysis:..................................................................................................................11

2.12.1. STRENGHTS:.....................................................................................................................11

2.12.2. WEAKNESS:......................................................................................................................11

2.12.3. OPPORTUNITY:.................................................................................................................11

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2.12.4. THREATS:.........................................................................................................................11

2.13. Milestones of HDFC BANK:...............................................................................................12

3. HDFC Bank Kathua (J&K)..............................................................................................................13

3.1. Swot Analysis.......................................................................................................................13

3.1.1. STRENGHTS:.....................................................................................................................13

3.1.2. WEAKNESS:......................................................................................................................13

3.1.3. OPPORTUNITY:.................................................................................................................14

3.1.4. THREATS:.........................................................................................................................14

3.2. Understanding the Products and Services...........................................................................14

4. Standardisation of Services..........................................................................................................28

4.1. Wipro’s Lean Journey – an Excerpt......................................................................................28

4.2. Application of Wipro’s Lean Knowledge Work.....................................................................29

5. Understanding the Competition..................................................................................................32

5.1. Market Share.......................................................................................................................36

5.2. Taking on the competition...................................................................................................38

6. Conclusion...................................................................................................................................40

Works Cited.........................................................................................................................................41

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OBJECTIVES OF STUDY

1. Study of products and services offered to retail customers.

2. Ascertaining the behavior and perception of the existing customers towards products/ services in banking.

3. Study the value of existing customers and reduced cost associated with servicing them and ways to increasing the overall efficiency of bank performance.

4. Identifying the most profitable and least profitable customer (Banding)

5. To identify and study the various ways of ensuring customer satisfaction adopted by HDFC bank.

6. Receiving the customer feedback that leads to new and improved product and services.

RESEARCH METHODOLOGY:

Research Instrument – Structured Questionnaire

Research Approach – Descriptive Research was used for the research.

Sampling Method – Random Sampling

Sampling Universe – Sample universe for research are the customer of Bilaspur city.

Sample unit: The respondents comprises of Govt. Employees, Self Employed, professionals, housewives etc

Sample Frame – The sample frame is taken as the existing customer of HDFC Bank.

Sample Size – Sample size under study was taken 100 customers.

DATA COLLECTION: Primary data – through personal interview and questionnaire

Secondary Data – company data base, RBI site and through internet.

KEY FINDINGS:1

Bank has shown better utilization of cash balance of customer by cross selling other products.

Officials employed find themselves in much burden as there are very less number of

sales executives.

Most of the people have a positive attitude about the investment products. Most of the respondents are having more than two accounts and holds more than two

products with HDFC Bank.

The registers and files are maintained on a daily basis and in a organized manner.

KEY CONCLUSION:

Customer Relationships can be achieved by the whole company working together to give customers what they really want. It’s is a business strategy to create and sustain long-term, profitable customer relationships.

CRM lead to better understanding of all aspects of customer behaviour; regarding issues and benefits offered by a company and helps differentiate itself from others.

In bank loyalty programs should be taken place to reward the customers for maintaining a product with them

Bank are visited by two people most profitable and least profitable customers.

For knowing the profitability of customer banding was studied to identifying most profitable and least profitable customers.

LIMITATIONS OF THE STUDY:

During the project following limitations where known:

The area was large and it was not possible to deal with each and every customers.

Time was the major constraint as I have only two months and the area is very vast .Even though I have put up the best of my efforts to cover all the areas given to me.

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Many of the customers where not cooperative when they are asked give few minutes.

As HDFC Bank is a big brand, many times the answers of the respondent may be affected by his good or bad experience about some other product.

To convince the people for a proper interviewing process is also difficult.

Compilation of data on competitor analysis was difficult due to non- availability of correct information.

EXECUTIVE SUMMARY

India’s banking sector is growing rapidly and is expected to enjoy even greater growth opportunities

in the future. Several Indian banks are pursuing global strategies, as Indian companies globalise and

people of Indian origin increase their investment in India. At the same time, a large number of global

banks have stepped up their focus on India, keen to participate in the sector’s growth. Indian banks,

in particular attackers, have leveraged the nation’s IT skills to establish a competitive advantage. IT

has now become a distinctive capability that these banks can successfully export to international

markets as they globalise. Today, the question often asked is: how competitive are Indian banks and

how do the practices at work in these banks compare against global best practices.

Keeping the above questions in mind, the report has been written to understand the working of the

HDFC bank, Kathua Branch and the steps which could be taken to improve the operational activities.

PURPOSE

The primary purpose of this report is to:

1. Study the Banking sector in India and understand the legalities involved with the working.

2. Understand the procedure followed by HDFC bank to run its banking services.

3. Understand the procedure followed by HDFC bank, Kathua Branch to run its banking

services.

4. Make suggestions/recommendations to the process followed by the retail branch Kathua to

improve its operational activities.

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FINDINGS AND RECOMMENDATIONS

The conditions in the banking industry have changed and are changing all over the world. In our

country, economic reform and in particular financial sector reform has altered the atmosphere in

which the participants operate.

First, market size - Usually, a small market does not attract too many competitors. The size of the

market is so large and with GDP likely to grow at 6.5 per cent in the medium-to long-term, the Indian

banking industry has become very attractive-as never before.

Second, industry profitability-higher by the standards of the past or international standards is

attracting more new entrants. Hence, increasing competition in the industry.

Third, rapid technological change-This enables not only quicker and more efficient service but

advantage to new entrants over existing players.

Fourth, product innovations-Features such as home banking, ATMs are all making the industry to be

continuously alert, and fiercely competitive.

Fifth consumers of banking services are getting increasingly agile, enlightened, cost and quality

conscious. They are already forcing the pace of competition on price, product and quality products

To increase its foothold in Kathua region, HDFC has to increase its presence in the district and reach

out to the customers, instead of customers reaching out the bank. Since the foothold of banks like

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Jammu and Kashmir bank is very strong in the region HDFC has to come out with the innovative

techniques like standardisation of services and employee engagement programs etc.

1. Banking Structure in India

Banking in India originated in the last decades of the 18th century. The first banks were The General

Bank of India, which started in 1786, and Bank of Hindustan, which started in 1790; both are now

defunct. The oldest bank in existence in India is the State Bank of India, which originated in the Bank

of Calcutta in June 1806, which almost immediately became the Bank of Bengal. This was one of the

three presidency banks, the other two being the Bank of Bombay and the Bank of Madras, all three

of which were established under charters from the British East India Company. For many years the

Presidency banks acted as quasi-central banks, as did their successors. The three banks merged in

1921 to form the Imperial Bank of India, which, upon India's independence, became the State Bank

of India in 1955.

The present structure of Banking in India is shown below:

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About 92 per cent of the country’s banking segment is under State control while the balance

comprises private sector and foreign banks. The public sector commercial banks are divided into

three categories.

1.1. State bank group

This group consists of 8 banks comprising of the State Bank of India (SBI) and Associate Banks of SBI.

The Reserve Bank of India (RBI) owns the majority share of SBI and some Associate Banks of SBI. SBI

has 13 head offices governed each by a board of directors under the supervision of a central board.

The boards of directors and their committees hold monthly meetings while the executive committee

of each central board meets every week.

1.2. Nationalized banks

In 1969, the Government arranged the nationalization of 14 scheduled commercial banks in order to

expand the branch network, followed by six more in 1980. A merger reduced the number from 20 to

19. Nationalized banks are wholly owned by the Government, although few of them have made

public issues. In contrast to the state bank group, nationalized banks are centrally governed, i.e., by

their respective head offices. Thus, there is only one board for each nationalized bank and meetings

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are less frequent (generally, once a month). The state bank group and nationalized banks are

together referred to as the public sector banks (PSBs).

1.3. Regional Rural Banks (RRBs)

In 1975, the state bank group and nationalized banks were required to sponsor and set up RRBs in

partnership with individual states to provide low-cost financing and credit facilities to the rural

masses.

2. HDFC Bank

The Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive an

'in principle' approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as

part of the RBI's liberalization of the Indian Banking Industry in 1994.The bank was incorporated in

August 1994 in the name of 'HDFC Bank Limited', with its registered office in Mumbai, India. HDFC

Bank commenced operations as a Scheduled Commercial Bank in January1995. HDFC is India's

premier housing finance company and enjoys an impeccable track record in India as well as in

international markets. Since its inception in 1977, the Corporation has maintained a consistent and

healthy growth in its operations to remain the market leader in mortgages. Its outstanding loan

portfolio covers well over a million dwelling units. HDFC has developed significant expertise in retail

mortgage loans to different market segments and also has a large corporate client base for its

housing related credit facilities. With its experience in the financial markets, a strong market

reputation, large shareholder base and unique consumer franchise, HDFC was ideally positioned to

promote a bank in the Indian environment.

HDFC Bank began operations in 1995 with a simple mission: to be a “World Class Indian Bank.” We

realized that only a single minded focus on product quality and service excellence would help us get

there. Today, we are proud to say that we are well on our way towards that goal.

Today HDFC Bank is the fourth largest bank in India by assets and the 2nd Largest by Market cap as on

29th Feb 2012 (Source : nseindia.com). In 2008 HDFC Bank acquired Centurion Bank of Punjab taking

its total branches to more than 1000.

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1.4. Promoters

HDFC is India’s premier housing finance company and enjoys an impeccable track record in India as

well as in international markets. Since its inception in 1977, the Corporation has maintained a

consistent and healthy growth in its operations to remain the market leader in mortgages. Its

outstanding loan portfolio covers well over a million dwelling units. HDFC has developed significant

expertise in retail mortgage loans to different market segments and also has a large corporate client

base for its housing related credit facilities. With its experience in the financial markets, strong

market reputation, large shareholder base and unique consumer franchise, HDFC was ideally

positioned to promote a bank in the Indian environment.

1.5. Business Focus

HDFC Bank’s mission is to be a World Class Indian Bank. The objective is to build sound customer

franchises across distinct businesses so as to be the preferred provider of banking services for target

retail and wholesale customer segments, and to achieve healthy growth in profitability, consistent

with the bank’s risk appetite. The bank is committed to maintain the highest level of ethical

standards, professional integrity, corporate governance and regulatory compliance. HDFC Bank’s

business philosophy is based on four core values: Operational Excellence, Customer Focus, Product

Leadership and People.

1.6. Capital Structure

As on 31st March, 2012 the authorized share capital of the Bank is Rs. 550 crore. The paid-up capital

as on the said date is Rs. 469,33,76,540 (234,66,88,270 equity shares of Rs. 2/- each). The HDFC

Group holds 23.15 % of the Bank's equity and about 17.29 % of the equity is held by the ADS / GDR

Depositories (in respect of the bank's American Depository Shares (ADS) and Global Depository

Receipts (GDR) Issues). 30.68 % of the equity is held by Foreign Institutional Investors (FIIs) and the

Bank has 4,47,924 shareholders. 

The shares are listed on the Bombay Stock Exchange Limited and The National Stock Exchange of

India Limited. The Bank's American Depository Shares (ADS) are listed on the New York Stock

Exchange (NYSE) under the symbol 'HDB' and the Bank's Global Depository Receipts (GDRs) are

listed on Luxembourg Stock Exchange under ISIN No US40415F2002.

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1.7. Amalgamation of Times Bank and Centurion Bank of Punjab with HDFC Bank

On May 23, 2008, the amalgamation of Centurion Bank of Punjab with HDFC Bank was formally

approved by Reserve Bank of India to complete the statutory and regulatory approval process. As

per the scheme of amalgamation, shareholders of CBoP received 1 share of HDFC Bank for every 29

shares of CBoP.

The amalgamation added significant value to HDFC Bank in terms of increased branch network,

geographic reach, and customer base, and a bigger pool of skilled manpower.

In a milestone transaction in the Indian banking industry, Times Bank Limited (another new private

sector bank promoted by Bennett, Coleman & Co. / Times Group) was merged with HDFC Bank Ltd.,

effective February 26, 2000. This was the first merger of two private banks in the New Generation

Private Sector Banks. As per the scheme of amalgamation approved by the shareholders of both

banks and the Reserve Bank of India, shareholders of Times Bank received 1 share of HDFC Bank for

every 5.75 shares of Times Bank.

1.8. Distribution Network

HDFC Bank is headquartered in Mumbai. As on March 31, 2012, the Bank has a network of 2544

branches in 1399 cities across India. All branches are linked on an online real-time basis. Customers

in over 800 locations are also serviced through Telephone Banking. The Bank’s expansion plans take

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into account the need to have a presence in all major industrial and commercial centres, where its

corporate customers are located, as well as the need to build a strong retail customer base for both

deposits and loan products. Being a clearing / settlement bank to various leading stock exchanges,

the Bank has branches in centres where the NSE / BSE have a strong and active member base.

The Bank also has a network of 8913 ATMs across India. HDFC Bank’s ATM network can be accessed

by all domestic and international Visa / MasterCard, Visa Electron / Maestro, Plus / Cirrus and

American Express Credit / Charge cardholders.

1.9. Management

Mr. C.M. Vasudev has been appointed as the Chairman of the Bank with effect from 6th July 2010.

Mr. Vasudev has been a Director of the Bank since October 2006. A retired IAS officer, Mr. Vasudev

has had an illustrious career in the civil services and has held several key positions in India and

overseas, including Finance Secretary, Government of India, Executive Director, World Bank and

Government nominee on the Boards of many companies in the financial sector.

The Managing Director, Mr. Aditya Puri, has been a professional banker for over 25 years, and

before joining HDFC Bank in 1994 was heading Citibank's operations in Malaysia.

The Bank's Board of Directors is composed of eminent individuals with a wealth of experience in

public policy, administration, industry and commercial banking. Senior executives representing

HDFC are also on the Board.

Senior banking professionals with substantial experience in India and abroad head various

businesses and functions and report to the Managing Director. Given the professional expertise of

the management team and the overall focus on recruiting and retaining the best talent in the

industry, the bank believes that its people are a significant competitive strength.

1.10. Technology used in HDFC Bank

HDFC Bank operates in a highly automated environment in terms of information technology and

communication systems. All the bank's branches have online connectivity, which enables the bank

to offer speedy funds transfer facilities to its customers. Multi-branch access is also provided to

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retail customers through the branch network and Automated Teller Machines (ATMs).

The Bank has made substantial efforts and investments in acquiring the best technology available

internationally, to build the infrastructure for a world class bank. The Bank's business is supported

by scalable and robust systems which ensure that the clients always get the finest services we offer.

The Bank has prioritised its engagement in technology and the internet as one of its key goals and

has already made significant progress in web-enabling its core businesses. In each of its businesses,

the Bank has succeeded in leveraging its market position, expertise and technology to create a

competitive advantage and build market share.

Technology brings the following benefit to the bank and the customers:

1.11. Business Profile

HDFC Bank caters to a wide range of banking services covering commercial and investment banking

on the wholesale side and transactional / branch banking on the retail side. The bank has three key

business segments: 

1.11.1. Wholesale Banking

The Bank’s target market is primarily large, blue-chip manufacturing companies in the Indian

corporate sector and to a lesser extent, small & mid-sized corporates and agri-based businesses. For

these customers, the Bank provides a wide range of commercial and transactional banking services,

including working capital finance, trade services, transactional services, cash management, etc. The

bank is also a leading provider of structured solutions, which combine cash management services

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Central Processing Units Derived Economies of Scale

Data Warehousing, CRM Cross Sell; Improved cost efficiency

Continous Improvement in technology Superior products

Electronic Straight Through Processing

Reduces Transaction Cost

with vendor and distributor finance for facilitating superior supply chain management for its

corporate customers. Based on its superior product delivery / service levels and strong customer

orientation, the Bank has made significant inroads into the banking consortia of a number of leading

Indian corporates including multinationals, companies from the domestic business houses and prime

public sector companies. It is recognised as a leading provider of cash management and

transactional banking solutions to corporate customers, mutual funds, stock exchange members and

banks.

1.11.2. Treasury

Within this business, the bank has three main product areas - Foreign Exchange and Derivatives,

Local Currency Money Market & Debt Securities, and Equities. With the liberalisation of the financial

markets in India, corporates need more sophisticated risk management information, advice and

product structures. These and fine pricing on various treasury products are provided through the

bank’s Treasury team. To comply with statutory reserve requirements, the bank is required to hold

25% of its deposits in government securities. The Treasury business is responsible for managing the

returns and market risk on this investment portfolio.

1.11.3. Retail Banking

The objective of the Retail Bank is to provide its target market customers a full range of financial

products and banking services, giving the customer a one-stop window for all his/her banking

requirements. The products are backed by world-class service and delivered to customers through

the growing branch network, as well as through alternative delivery channels like ATMs, Phone

Banking, NetBanking and Mobile Banking.

The HDFC Bank Preferred program for high net worth individuals, the HDFC Bank Plus and the

Investment Advisory Services programs have been designed keeping in mind needs of customers

who seek distinct financial solutions, information and advice on various investment avenues. The

Bank also has a wide array of retail loan products including Auto Loans, Loans against marketable

securities, Personal Loans and Loans for Two-wheelers. It is also a leading provider of Depository

Participant (DP) services for retail customers, providing customers the facility to hold their

investments in electronic form.

HDFC Bank was the first bank in India to launch an International Debit Card in association with VISA

(VISA Electron) and issues the MasterCard Maestro debit card as well. The Bank launched its credit

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card business in late 2001. By March 2011, the bank had a total card base (debit and credit cards) of

over 16.6 million. The Bank is also one of the leading players in the “merchant acquiring” business

with over 120,000 Point-of-sale (POS) terminals for debit / credit cards acceptance at merchant

establishments. The Bank is well positioned as a leader in various net based B2C opportunities

including a wide range of internet banking services for Fixed Deposits, Loans, Bill Payments, etc.

1.12. Corporate Governance Rating

The bank was one of the first four companies, which subjected itself to a Corporate Governance and

Value Creation (GVC) rating by the rating agency, The Credit Rating Information Services of India

Limited (CRISIL). The rating provides an independent assessment of an entity's current performance

and an expectation on its "balanced value creation and corporate governance practices" in future.

The bank was assigned a 'CRISIL GVC Level 1' rating in January 2007 which indicates that the bank's

capability with respect to wealth creation for all its stakeholders while adopting sound corporate

governance practices is the highest.

1.13. Positioning Strategy:

HDFC Bank has positioned itself as a bank which gives higher standard of services through product

innovation for the diverse need of individual and corporate clients. Following points in the

positioning are highlighted:

1) Customer centric

2) Service oriented

3) Product innovation

1.14. Swot Analysis:

1.14.1. STRENGHTS:

1) ISO 9001 certification for its depository and custody operations & for its backend processing

of retail operation and direct banking operations.

2) It has a highly automated environment in terms of information technology and

communication system.

3) Bank boasts of strong brand equity.

4) The Bank has a strong retail depository base and has more than million customers.

5) It has many innovative products like kids Advantage scheme, NRI services.

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1.14.2. WEAKNESS:

1) Account opening and delivery of cheque book takes comparatively more time.

2) Lack of availability of different credit products like CC Limit, Bill discounting facilities.

1.14.3. OPPORTUNITY:

1) Branch Expansion.

2) Door step services.

3) Greater liberalization in foreign ownership via FDI in Indian Private Sector Banks.

4) Infrastructure improvements and better systems for trading & settlement in the govt.

securities and foreign exchange markets.

1.14.4. THREATS:

1) The bank started facing competition from players like SBI, PNB Bank in the finance market.

This threatens to reduce the profit margins in the future.

2) Some Private Banks give 7 day banking services and 8am -8pm banking services.

3. HDFC Bank Kathua (J&K)

Kathua is a city and a Municipal Council in the Indian state of Jammu and Kashmir. It is the largest

city of the Kathua district in Jammu and Kashmir. On the outskirts of Kathua, there is a well

developed industrial estate, SICOP (State industrial cooperation), including the Nirmal Industries,

Chenab Textile Mill (CTM). This venture of Birla Group, established in the 1970s, contributed greatly

to the development of Kathua. In addition to CTM, there are several other factories, manufacturing

cement, iron, and other products. There is a unit Celine Health Care Pvt. Ltd. that is in the

manufacturing of cosmetic products.

In continuation with its policy of growth, HDFC Bank has started a new branch in town Kathua (J&K).

It is a new and the only branch which has been opened in this region and has been awarded as semi

urban region status. The semi urban region status allows it to recover breakeven with the fixed costs

in a time period which is longer than the urban branches. The branch is in 4 th month of its operation

in Kathua dated 1st July 2012.

The head of the branch is Mr. Abhishek Khajuria (Branch Manager) who supervises a team 10

people.

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1.15. Swot Analysis

1.15.1. STRENGHTS:

1) The bank draws upon its brand name leverage in a semi urban branch.

2) The bank provides door to door services which are not done by its competitors.

3) It has a highly automated environment in terms of information technology and

communication system.

4) It has many innovative products like kids Advantage scheme, NRI services.

1.15.2. WEAKNESS:

1) Account opening and delivery of cheque book takes comparatively more time.

1.15.3. OPPORTUNITY:

1) Branch Expansion.

1.15.4. THREATS:

1) The bank faces competition from major players in the regional market like J&K bank, SBI etc.

1.16. Understanding the Products and Services

Following are the products and services that are offered by the Kathua branch.

Product 1: Accounts and Deposits

1) Savings Account

Product Key FeaturesRegular Savings Account Access the account across a wide network of

branches and ATMs

Senior Citizen Account FREE travellers chequesGet insurance against hospitalization in case of an accident.

Limited KYC Account Get zero initial pay-in and a zero balance accountUse our free Mobile Banking service to bank anywhere

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Kids Advantage Account Receive free Education Insurance coverAvail FREE DD/ MC at the different HDFC Bank branches

Family Savings Group Account Enjoy FREE lifetime EasyShop International Debit Card for all members in the groupSavings account to savings account sweep-in to a nominated account

SavingsMax Account Get a FREE Titanium Royale Debit CardEnjoy an Accidental Hospitalization cover of Rs. 1 lac per annum

No Frills Account Get a FREE Titanium Royale Debit CardEnjoy an Accidental Hospitalization cover of Rs. 1 lac per annum

Institutional Savings Account Enjoy freedom from maintaining balance with our zero balance accountEnjoy comprehensive banking with us using our various collection and payment services

Pension Savings Account Experience on time pension disbursalsBenefit from immediate action in case family pension is devolved to spouse

Savings Plus Account Free lifetime International Debit CardFree Payable-at-Par chequebook, without any usage charges

2) Salary Accounts

Product Key FeaturesPremium Salary Account Free Personal Accidental Death Cover of Rs. 5

lakhs*Free for life Titanium Debit Card for the primary applicant

Defence Salary Account Free Additional ATM Card for Personnel Below Office Rank (PBORs)*Unlimited Free Demand Drafts / Managers Cheques at HDFC Bank branch locations

Payroll Account Zero balance accountFree for life International Debit Card for the primary applicant

Reimbursement Account Zero Balance Account

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Track and Manage your reimbursements separately

Regular Salary Account Free Personal Accidental Death Cover of Rs. 1 lakh*Free for life International Debit Card for the primary applicant

Classic Salary Account Free for life International Debit Card for the primary applicantFree cheque book of 25 leaves per quarter

No Frills Salary Account Zero Balance AccountFree ATM Card for life for the primary applicant

3) Current Accounts

Product Key FeaturesPremium Current Account Free collection of funds through RTGS and NEFT

Free local and anywhere cheque payment across HDFC Bank locations

RFC - Domestic Account Retain your foreign exchange funds in the same currency in which you receive itConvert your FX funds at your own opportune time

Apex Current Account Access to more than 2000 branchesHuge savings in inter-city transactions for payable-at-par cheques, funds transfers, NEFT, RTGS and Demand Drafts/Pay Orders

Merchant Advantage Current Account Pay your vendors and suppliers across the country using multiple remittance optionsFree Regular Debit Card with a host of privileges and benefitsFlexible cash deposit limits per month*

Regular Current Account Free local cheque collection and paymentsFree collection of funds through RTGS and NEFT

Flexi Current Account Free RTGS/NEFT transactions40 free Demand Drafts and 40 free Pay Orders issued from any HDFC Bank Branch

Max Current Account Faster collection of outstation chequesFree Pay Orders which can be issued from any HDFC Bank branch

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Merchant Advantage Plus Current Account Get special offers on the Business Debit CardsEnjoy a free monthly Cash Deposit limit* at your home branch location

4) Deposits

Product Key FeaturesRegular Fixed Deposit Earn higher interest on your savings

Flexibility, security and excellent returns

Super Saver Facility Like two accounts working togetherEnjoy a high rate of interest and benefit from an overdraft facility up to 75% of the value of your Fixed Deposit

Recurring Deposit Invest every month and be prepared for the futureMake investments as small as Rs 500/- per month

5 Year Tax Saving Fixed Deposit Save with 5 year tenureMinimum deposit just Rs 100/-, maximum Rs 1 lakh

Sweep-in Facility Avoid overdrafts while still taking advantage of your Fixed DepositsChoose between a Savings or Current Account to link to your Fixed Deposit

5) Demat Account

Product Key FeaturesDemat Account No Account Opening charges

1st year waiver on Annual Folio Maintenance ChargesTransaction linked Annual Folio Maintenance charge from 2nd year onwards (More you transact, Lesser you pay)

6) Safe Deposit Locker

Product Key FeaturesSafe Deposit Locker Wide availability of locker locations and

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sizesAccess to safe-deposit lockers at all branches, no matter where your account is held.Lockers are rented for one year, and rent is payable in advance.

7) Rural Accounts

Product Key FeaturesKisan No Frills Saving Account Exclusive “No Frills Saving Account” for farmers

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Car N Cash Loans Top-up your loan till your original loan amount19

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20

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7) Government Sponsored Programs

Product Key FeaturesGovernment Sponsored Programs HDFC Bank participates in a variety of

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8) Rural Loans

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Government Sponsored Programs to support the lesser privileged strata of the society. These

21

schemes assist socially backward classes and help increase employment generation.

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22

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23

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24

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25

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26

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risk arising out of Accidental Loss or damage to your vehicle, third party liability and injury or death involving your commercial vehicle

27

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priceless possessions and property in a single policy.Minimum documentation is required for this policy.Avail premium discounts of upto 15% for certain security features.A coverage option on burglary, theft and larceny is also offered.

The other products which are offered by Kathua Branch are

28

ProductsForex

Premium Banking

Private Banking

4. Standardisation of Services

1.17. Wipro’s Lean Journey – an Excerpt

The application of lean principles to knowledge work involves an ambitious initiative at Wipro

Technologies. Based in Bangalore, India, Wipro is one of the largest IT services and product

engineering companies in the world. It has more than 100,000 employees and 72 delivery centres in

55 countries. The operations Wipro had been studying build complex custom software. They look

nothing like an assembly line. Projects are assigned to teams whose members are chosen on the

basis of the skills needed to address the tasks, which range from designing software that controls a

digital set-top box to creating new e-commerce platforms. Just as a team of lawyers working on a

major case typically includes members with a wide range of expertise, a Wipro software team

consists of people with highly varied experience. Some are quite seasoned, others are just starting

out; some have specialized skills, others are generalists; some provide broad oversight and support,

others do the actual work. By bouncing ideas off one another and trying things out, they come up

with solutions. Several challenges prompted Wipro to embark upon its lean journey, in 2004. Its

need for highly skilled employees was increasing just as turnover was rising because of strong

industry demand. The days when the company could compete on the basis of low labor costs were

over. Nor could it continue to compete on superior quality; its main rivals had caught up. In search of

a sustainable advantage, Wipro’s leaders decided to build a lean system. Although they recognized

that this approach was unproven in knowledge work and would require a profound transformation

of the company, they believed that the potential payoff—the ability to improve faster than their

competitors—was worth the risk. Wipro’s managers were unable to find companies that had used

lean techniques to produce custom software on a vast scale. And they discovered that even leading

strategy consultancies lacked relevant experience. So Sambuddha Deb, the senior manager in charge

of operations, assembled nine other Wipro managers. The group gathered around a conference

table and asked a simple question: “How do we do it?” Their answer: “We’ll educate ourselves. We’ll

come up with our own ideas for adapting lean to a large-scale software operation, and then we’ll try

them out.” The managers began studying how the lean approach had been applied in

29

manufacturing. They pored over all the written material they could find, toured lean factories, and

conferred with a former Toyota guru. Then they brainstormed about how to use what they had

learned; each picked an existing project to test their ideas on. Gradually they identify ed practices

that worked. We’ve been studying this effort from the start. We analyzed the results of 1,883 Wipro

projects that involved complex product engineering or the delivery of IT solutions. Of those projects,

772 used a lean approach, and 1,111 did not. We also observed many of them as they were being

carried out. Making an operation lean is a journey of many years, not a big-bang endeavour. Still, we

discovered that the lean approach is already having a significant impact. The lean projects we

studied performed no better than others on measures of quality (defects and mistakes), perhaps

because standards were already high. But they produced superior results in terms of time and cost.

On average, the lean projects were completed in 5% less time than had been anticipated; the other

projects typically finished at the forecasted time. And the lean projects came in 9% under budget;

the others were 2% under budget. In the end we came up with six principles, which we’ll describe in

detail below. By using them, managers can create the customized lean approaches best suited to

their organizations.

Wipro’s six principles and lean knowledge concept can be understood from the figure describes

below:

Fig1: Wipro’s Lean Knowledge Work

1.18. Application of Wipro’s Lean Knowledge Work

Wipro’s Lean Knowledge concept was used to standardise the work operations in Kathua Branch. The six principles were used in the following manner –

30

Principle 1 – Continually root out all waste

A Wipro team whose project was falling behind schedule went through this exercise, it discovered,

first, that its members were solving the same problems over and over. Further questions revealed a

bigger issue: The team was so busy trying to keep up with its work that it was neglecting to create

standard solutions and train people. This meant that few members had the expertise to handle a

variety of problems. In response, the team restructured the project along functional lines, assigned

individuals to be primary and backup leaders of each function, and made them responsible for

creating standard solutions and training the other team members. People rotated into a different

function each quarter to further ensure that everyone acquired broad skills. Although these

measures initially added to the time needed to perform work, soon the team was able to speed up,

and it delivered its project on schedule. Encourage everyone to look for small forms of waste, not

just big ones.

A similar approach was adopted by the Kathua Branch where the staff was divided into five groups (2

members each). Initially the formation of the team was done in such a way that one person was

good in one particular area and the other person would act as his backup and simultaneously learn

from the first person experience. For example an employee who has good acquaintances in the

‘industrial estate’ Kathua was given the responsibility of handling ‘current accounts’ in the industry.

He was accompanied with another employee who would learn from his experience and would act as

his backup in case of his absence during the first month During the first month of its

implementation, it was seen that although it slowed up the process of target completion of the

bank, there was a considerable increase in the knowledge base of the employees. This increase in

the knowledge base could be leveraged in the second month and could be used to over achieve the

targets.

Principle 2 – Strive to make tacit knowledge explicit

Specifying knowledge work involves four steps:

1) Look for repeatable parts of the process and codify them:

Almost all areas of knowledge work have more commonality than meets the naked eye. At

Wipro, teams found it difficult to specify the overall code-writing process, because it often

involved onetime novel solutions. But when they reframed the question to ask “What do we

do repeatedly?” they realized that many aspects of the process, including peer review, daily

builds (integrating all the pieces of code written that day into the program), testing, and

31

customer reviews all occurred frequently within a project and across projects and could be

standardized.

2) Don’t try to specify everything initially, if ever:

Some tasks occur so rarely that the investment needed to specify them is not worthwhile.

And sometimes a problem is so poorly understood that an expert must advise about how

best to address it. However, even in these instances parts of the process can be specified. A

Japanese bank that wanted to grow its home mortgage business found that hiring expert

credit analysts to support the desired growth would be costly and difficult. But managers

recognized that by carefully studying past lending decisions, they could derive the rules used

to make them and embed those rules in an IT system. The system didn’t completely

eliminate the need for experts, who had to make judgment calls in cases that were unusually

complex or involved special factors. However, the vast majority of cases could be handled

automatically, allowing the company to rapidly and safely grow its mortgage business.

3) Use data to get buy-in:

A major benefit of specifying repeatable processes is that knowledge workers are then freed

up to focus on the parts of the job where they can create the most value.

4) Keep studying the work that has been designated as tacit:

Even if work isn’t specified today, that doesn’t mean that it can’t be tomorrow. What is

currently an uncommon event may happen frequently in the future. And the understanding

of complicated problems can grow over time.

Above four steps were used in Kathua Branch to codify the tacit knowledge. A common database

was developed where employees could see what are the legalities involved in issuing various

products to the customers. This database was updated regularly by the employees once they

encounter a new situation so that things become easier in future. Also an informal meeting was

conducted at the end of office hours for half an hour where employees shared their experiences in

the field and in the branch.

Principle 3 – Specify how workers should communicate with one another.

Recognizing that many problems are too big or complex for one person to tackle, organizations are

increasingly using teams to do knowledge work. However, once multiple people are involved in a

32

process, effective communication becomes imperative— especially because teams may have

members all over the world. A lean system can promote good communication by articulating the

ways in which it should be carried out.

Define who should be communicating, how often, and what: Knowledge workers need to understand

who will use their output. When the supplier of the work is in direct contact with the “customer”

(typically someone on the same team), the two can collaborate to ensure that the output performs

as expected. If frequent communication generates a rich flow of information, problems can be

spotted and fixed early on. And when the desired content of communication is spelled out, people

get the information they need and don’t have to waste time trying to figure out what others are

saying.

The same principle was applied in Kathua Bank Branch.

Principle 4: Use the scientific method to solve problems as soon as possible. The people who created the problem should fix it.

If a problem arises, ideally the person who created it should fix it. Problems can crop up because the

work process is flawed or because the worker has made a mistake. In either case, involving the

worker in solving the problem usually results in a quicker solution, because the people closest to a

problem typically know the most about it.

Whenever a mistake is committed by an employee, it was encouraged that he is the one was given

the responsibility to correct it. Branch Manager insisted that the mistake once committed should not

occur again. For this the common mistakes were made explicit so that the frequency of the mistakes

was reduced.

Principle 5: Remember, a lean system takes years to build

The initiative in the Kathua branch is just one month old and it was insisted with the bank manager

that the Wipro’s Lean Knowledge Work would take time to be fully effective. However there are

promising signs that the initiative would bring positive results to the branch.

Principle 6: Leaders must trail the blaze

This requires a significant investment of management time. During our research, we found that

teams that had leaders who were heavily engaged in the lean initiative—who educated their teams

33

and persuaded them that lean efforts would improve performance— were more successful than

teams whose leaders were not.

5. Understanding the Competition

Kathua had eight banks before arrival of HDFC. Following are the banks which have presence in

Kathua region in addition to new entrant HDFC:

1) Jammu and Kashmir Bank:

J&K Bank functions as a universal bank in Jammu & Kashmir and as a specialised bank in the

rest of the country. It is also the only private sector bank designated as RBI’s agent for

banking business, and carries out the banking business of the Central Government, besides

collecting central taxes for CBDT.

J&K Bank follows a two-legged business model whereby it seeks to increase lending in its

home state which results in higher margins despite modest volumes, and at the same time,

seeks to capture niche lending opportunities on a pan-India basis to build volumes and

improve margins.

J&K Bank operates on the principle of 'socially empowering banking' and seeks to deliver

innovative financial solutions for household, small and medium enterprises.

The Bank, incorporated in 1938, and is listed on the NSE and the BSE. It has a track record of

uninterrupted profits and dividends for four decades. The J&K Bank is rated P1+, indicating

the highest degree of safety by Standard & Poor and CRISIL.

2) State Bank of India:

State Bank of India (SBI) is the largest banking and financial services company in India by

revenue, assets and market capitalization. It is a state-owned corporation with its

headquarters in Mumbai, Maharashtra. As of March 2011, it had assets ofUS$370 billion

with over 13,000 outlets including 150 overseas branches and agents globally. The bank

traces its ancestry to British India, through the Imperial Bank of India, to the founding in

1806 of the Bank of Calcutta, making it the oldest commercial bank in the Indian

Subcontinent. Bank of Madras merged into the other two presidency banks—Bank of

Calcutta and Bank of Bombay—to form the Imperial Bank of India, which in turn became the

State Bank of India. The Government of India nationalized the Imperial Bank of India in 1955,

with the Reserve Bank of India taking a 60% stake, and renamed it the State Bank of India. In

34

2008, the government took over the stake held by the Reserve Bank of India. SBI is ranked

292 globally in Fortune Global 500list in 2011.

SBI provides a range of banking products through its vast network of branches in India and

overseas, including products aimed at non-resident Indians (NRIs). The State Bank Group,

with over 16,000 branches, has the largest banking branch network in India. SBI has 14 local

head offices situated at Chandigarh, Delhi, Lucknow, Patna, Kolkata, Guwahati (North East

Circle), Bhuwaneshwar, Hyderabad, Chennai, Trivandram, Banglore, Mumbai, Bhopal &

Ahmedabad and 57 Zonal Offices that are located at important cities throughout the

country. It also has around 130 branches overseas.

3) Punjab National Bank

Punjab National Bank (PNB) is an Indian financial services company based in New Delhi,

India. PNB is the third largest bank in India by assets. It was founded in 1894 and is currently

the second largest state-owned commercial bank in India ahead of Bank of Baroda with

about 5000 branches across 764 cities. It serves over 37 million customers. The bank has

been ranked 248th biggest bank in the world by the Bankers Almanac, London. The bank's

total assets for financial year 2007 were about US$60 billion. PNB has a banking subsidiary in

the UK, as well as branches in Hong Kong, Dubai and Kabul, and representative offices in

Almaty, Dubai, Oslo, and Shanghai.

4) UCO Bank

Uco Bank, formerly United Commercial Bank, established in 1943 in Kolkata, is one of the

oldest and major commercial bank of India. Ghanshyam Das Birla, an eminent Indian

industrialist, during the Quit India movement of 1942, had conceived the idea of organizing

a commercial bank with Indian capital and management, and the United Commercial Bank

Limited was incorporated to give shape to that idea. Bank started with its Head Office at

Kolkata Capital with an issued capital of Rs 2 crore and a Paid-up capital of Rs 1 crore. The

bank, along with 13 major commercial banks of India, was nationalized on 19 July 1969 by

the Government of India. Its name was changed to UCO Bank, in 1985, by an act of Indian

Parliament as a bank in Bangladesh existed in the name “United Commercial Bank” which

was posing problem in the international banking arena. As of 2011 the bank had 2206

Service Units spread all over India, with four overseas branches two each

in Singapore and Hong Kong. Mr Arun Kaul is Chairman and Managing director of UCO Bank.

It has a turnover of Rs 48000 crores35

5) Union Bank of India

Union Bank of India (UBI) (BSE: 532477) is one of India's largest state-owned banks (the

government owns 55.43% of its share capital), is listed on the Forbes 2000. It has assets of

USD 13.45 billion and all the bank's branches have been networked with its 3025 ATMs. Its

online. Tele-banking facility is available to all its Core Banking Customers - individual as well

as corporate. UBI began its international expansion in 2007 with the opening of

representative offices in Abu Dhabi, United Arab Emirates, and Shanghai, Peoples Republic

of China. The next year, UBI established a branch in Hong Kong, its first branch outside India.

In 2009, UBI opened a representative office in Sydney, Australia.

6) Punjab & Sind Bank:

Punjab & Sind Bank (P&SB) is a major Public Sector bank in Northern India. Of its almost

1000 branches and offices spread throughout India, almost 400 are in Punjab state, though

the bank's corporate headquarters is in New Delhi.

Punjab & Sind was one of the few banks in northern India that honoured their obligations to

Hindu clients that left Pakistan and migrated to India at Partition, even though all the bulk of

its operations had been in Pakistan and it had only a few branches in India.

On 15 April 1980 Punjab & Sind Bank was among six banks that the Government of India

nationalized in the second wave of nationalizations. (The first wave had been in 1969 when

the government nationalized the top 14 banks). After nationalization bank lost its focus and

was left behind in the race.

At some point in the 1960s Punjab & Sind Bank established a branch in London. In 1991 Bank

of Baroda acquired Punjab & Sind Bank's London branch at the behest of the Reserve Bank

of India following Punjab & Sind's involvement in the Sethia fraud in 1987.

Since 2004 Punjab & Sind has again shown growth of more than 40% year on year. Recently

its IPO received tremendous response from the public and the issue was oversubscribed by

more than 50 times. Recently the bank crossed a mark of Rs 1 lack crore in business.

7) Canara Bank

Canara Bank is a major Commercial government owned bank headquartered in Bangalore,

Karnataka. It was established in 1906, making it one of the oldest banks in the country. As of

December 2011, the bank had a network of 3564 branches and 4000 ATMs spread across

India. The bank also has offices abroad in London, Hong Kong, Moscow, Shanghai, Doha, 36

and Dubai. Widely known for customer centricity, Canara Bank was founded in 1906 by Shri

Ammembal Subba Rao Pai, a great visionary and philanthropist, at Mangalore, then a small

port in Karnataka. The bank was nationalisated in 1969. In 2006, the bank completed a

century of operation in the Indian banking industry. Today, Canara Bank occupies a premier

position in the comity of Indian banks with an unbroken record of profits since its inception.

8) ICICI (Industrial Credit and Investment Corporation Of India)

ICICI (Industrial Credit and Investment Corporation Of India) Bank Ltd. is an Indian diversified

financial services company headquartered in Mumbai, Maharashtra. It is the second largest

bank in India by assets and third largest by market capitalization. It offers a wide range of

banking products and financial services to corporate and retail customers through a variety

of delivery channels and through its specialized subsidiaries in the areas of investment

banking, life and non-life insurance, venture capital and asset management. The Bank has a

network of 2,630 branches and 8,003 ATM's in India, and has a presence in 19 countries,

including India.

The bank has subsidiaries in the United Kingdom, Russia, and Canada; branches in United

States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance

Centre; and representative offices in United Arab Emirates, China, South Africa, Bangladesh,

Thailand, Malaysia and Indonesia. The company's UK subsidiary has established branches in

Belgium and Germany.

ICICI Bank is one of the Big Four banks of India, along with State Bank of India, Punjab

National Bank and HDFC Bank.

1.19. Market Share

A market research was conducted to estimate the market share of different banks in Kathua region:

Research Objective: Estimate the market share of different banks in Kathua region.

Research Design:

Data Collection Design:

Interview 100 people who would be divided into the following categories:

1) 20 people (service class)

2) 20 people (retired)

37

3) 20 people (businessmen)

4) 20 students

Time Frame:

The data collection period was complete in two weeks.

Scope:

The research was conducted only in Kathua region. (The results might differ in different regions of Jammu and Kashmir)

The survey was conducted for the savings account only. (The results might differ for different services provided by banks)

An additional survey for the current accounts was conducted taking the 20 businessmen as sample.

Data Collection:

The data collection was done in 2 weeks.

20 people (service class) – The data was collected from people working in different sectors like

Construction, Power Development, Hydroelectric department etc

20 people (retired) – The data was collected from different wards of Kathua so that there is no spill

over effect from the same region.

20 people (businessmen) – The data was collected from the Industrial area and Lakhanpur (major

business hub)

20 students – The data was collected from the college students aged between 18 to 21.

Results:

The results that came out of the research are shown below:

38

62%

23%

5% 10%

Savings Account

J&K BankSBIPNBRest

Fig 2 – Research Results – Savings Account

80%

12% 7%1%

Current Account

J&KPNBSBURest

Fig 3 – Research Results – Current Account

Findings and Conclusion:

1) J&K bank enjoys the most favoured bank status in the region.

2) SBI comes at the second position though there is stark gap between 1st and 2nd position.

3) Most of the people had multiple accounts amongst which J&K bank option was a default.

39

Although the results of the above research are applicable only to the savings and current account

but is known that Jammu and Kashmir bank is the most favoured bank in the region because of its

niche positioning and its widespread reach in the area.

1.20. Taking on the competition

Following are the recommendations which should be implemented by HDFC to take the competition head on:

1) Increasing the awareness among the residents about the existence of the largest private

bank in Kathua.

2) Door to Door Service

3) Spreading the reach through ATMs

4) Customized Banking

1) Increasing the awareness among the residents about the existence of the largest private

New marketing campaign should be designed to improve the visibility of the bank in Kathua region.

The campaign should include promotional activities like banners, local newspapers, local media and

word of the mouth publicity. The duration of the campaign should be decided after the assessment

of the initial impact of the campaign.

2) Door to Door Service

In order to boost the image as well as the services of the bank, special emphasis should be provided

on the door to door services. These services should reach out to the customers instead of customer

reaching to the bank. This would be a first of a kind initiative in Kathua as most of the banks are

established nationalised banks which have a permanent client base and these banks generally do not

provide such services.

3) Spreading the reach through ATMs

An extensive network of ATMs would help in tackling the competition. This would also ensure that a

right message is passed to the customer that the HDFC is here to grow and reach out to large section

of the customers.40

4) Customized Banking

This initiative should be launched on a pilot basis with only loyal customers forming a part of the

test. This initiative would involve customising the services according to the need of the loyal

customers.

6. Conclusion

HDFC Bank aims to ride the growth opportunities thrown up by the increasing affluence of rural India

to grow at a faster pace than the industry average over the next few years. There is a tremendous

opportunity in rural India with the country’s GDP poised to grow at 7 per cent-plus over the next few

years, HDFC Bank is well-positioned to tap this opportunity for rapid growth. The bank has also focus

on organic growth, having completed the acquisition of Centurion Bank of Punjab (CBoP) which has

given it a strong pan-India footprint.

The bank is also constantly innovating and coming up with new offerings like its loans against gold

jewellery facility which helps the bank to tap business from small shop—keepers, small businesses

and others in rural areas. This business is a good one in the interiors of the country.

HDFC Bank’s strategy presently is to grow organically and has the ability to achieve the future

growth targets organically. Besides, bank has laid a great deal of emphasis on the asset quality — it

has never been in distress and the NPA levels are very low.

HDFC bank Kathua is working on the same lines to ensure its success. In its two months of operation,

it has achieved its targets and expects to continue to grow according to the industry standards.

Services like door to door service, customised service, extended network of ATMs are an attempt to

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reach out to the customers. Also standardisation of working environment helps it to improve its

operational efficiency as well as employee engagement.

Works Cited

HDFC. (2012, May). Retrieved from HDFC: http://www.hdfcbank.com/aboutus/default.htm

HDFC Bank. (2012, May). Retrieved from HDFC Bank: http://www.hdfcbank.com/

India Brand and Equity Foundation. (2012, April). Retrieved from India Brand and Equity Foundation: http://www.ibef.org/industry/Banking.aspx

India Brand and Equity Foundation. (May, 2012). Retrieved from India Brand and Equity Foundation: http://www.ibef.org/download/Banking50112.pdf

Kathua. (2012, May). Retrieved from Kathua: http://kathua.nic.in/

Nationalised Banks. (2012, May). Retrieved from Nationalised Banks: http://en.wikipedia.org/wiki/List_of_banks_in_India

Reserve Bank of India. (2012, May). Retrieved from Reserve Bank of India: http://www.rbi.org.in

The Hindu. (2012). Retrieved from The Hindu Business Line: http://www.thehindubusinessline.com/industry-and-economy/banking/article1451236.ece

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