Patel Rakesh H. INTRODUCTION Banking in India Banking in India originated in the first decade of 18th century. The first banks were The General Bank of India, which started in 1786, and Bank of Hindustan. The oldest bank in existence in India is the State Bank of India, which originated in the "The Bank of Bengal" in Calcutta in June 1806. The Reserve Bank of India formally took on the responsibility of regulating the Indian banking sector from 1935. After India's independence in 1947, the Reserve Bank was nationalized and given broader powers. By the 1960s, the Indian banking industry has become an important tool to facilitate the development of the Indian economy. At the same time, it has emerged as a large employer. In the early 1990s the Narasimha Rao government embarked on a policy of liberalization and gave licenses to a small - 1 - United Bank of India
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Patel Rakesh H.
INTRODUCTION
Banking in India
Banking in India originated in the first decade of 18th
century. The first banks were The General Bank of India, which started
in 1786, and Bank of Hindustan. The oldest bank in existence in India is
the State Bank of India, which originated in the "The Bank of Bengal" in
Calcutta in June 1806. The Reserve Bank of India formally took on the
responsibility of regulating the Indian banking sector from 1935. After
India's independence in 1947, the Reserve Bank was nationalized and
given broader powers. By the 1960s, the Indian banking industry has
become an important tool to facilitate the development of the Indian
economy. At the same time, it has emerged as a large employer.
In the early 1990s the Narasimha Rao government
embarked on a policy of liberalization and gave licenses to a small
number of private banks, which came to be known as New
Generation tech-savvybanks, which included banks such as UTI Bank,
ICICI Bank, IDBI Bank, HDFC Bank etc. Currently, India has 88
scheduled commercial banks (SCBs)
28 public sector banks
29 private banks
31 foreign banks.
They have a combined network of over 53,000 branches and
17,000 ATMs. According to ICRA Limited, a rating agency, the public
sector banks hold over 75% of total assets of the banking industry.
- 1 - United Bank of India
Patel Rakesh H.
HISTORY & DEVELOPMENT OF THE UBI
United Bank of India (UBI) has a pride place in the
economy of the eastern and north-eastern parts of the country. The
Bank which was formed out of the amalgamation of four small banks of
Bengal. One of the constituents of the Banks- Comilla Banking
Corporation Ltd. was established as early as in 1914. Other three
constituents- the Bengal Central Bank Ltd, the Comilla Union Bank Ltd.
and Hooghly Bank Ltd. were established in 1918, 1922 and 1932
respectively. Subsequently, Cuttack Bank Ltd. and Tezpur Industrial
Bank Ltd. got merged with UBI in the year 1961. Hindusthan Mercantile
Bank Ltd. and Narang Bank of India Ltd. were amalgamated with UBI in
1973 and 1976 respectively. Since inception the Bank is known for its
involvement with the economic growth and social development.
UBI with it’s headquarter at Kolkata is predominantly seen
in the eastern and north eastern parts of the country. UBI with its
outstanding performance has created the confidence in itself and it is
that confidence of the people around UBI branches and confidence of
the clients will become the most precious assets in the years to come.
So to build that confidence and to enrich that asset further in the face
of the challenges of the emerging Competitive scenario, UBI is
growing with its involvement and commitments in the overall
development of the country in conformity with the priority accorded by
our Government.
- 2 - United Bank of India
Patel Rakesh H.
Today, the banks are to operate in a more de-regulated
and liberalized environment for which steps are initiated for improvement
of financial strength, enhanced supervision and control and growth in
competitive efficiency. To face the challenges of the 21st century
banking, UBI has devised schemes and developed products which are
more customer friendly and technology oriented. At the same time it has
not lost sight of the importance of rural economy and more particularly
the agriculture and allied activities as well as SME sector which are the
prime source of occupation for our masses.
- 3 - United Bank of India
Patel Rakesh H.
OVERVIEW OF THE UBI
United Bank of India (UBI) is one of the 14 major banks
which were nationalised on July 19, 1969. Its predecessor the United
Bank of India Ltd., was formed in 1950 with the amalgamation of four
banks viz. Comilla Banking Corporation Ltd. (1914), Bengal Central
Bank Ltd. (1918), Comilla Union Bank Ltd. (1922) and Hooghly Bank
Ltd. (1932) (which were established in the years indicated in brackets
after the names). The origin of the Bank thus goes back as far as 1914.
As against 174 branches, Rs. 147 crores of deposits and Rs. 112 crores
of advances at the time of nationalisation in July, 1969, today the Bank
has 1484 branches, over Rs. 54,536 crores of deposits and Rs. 35,727
crores of gross advances as on 31-03-09. Presently the Bank has a
three-tier organisational set-up consisting of the Head Office, 28
Regional Offices and 1484 branches.
After nationalisation, the Bank expanded its branch
network in a big way and actively participated in the developmental
activities, particularly in the rural and semi-urban areas in conformity
with the objectives of nationalisation. In recognition of the role played by
the Bank, it was designated as Lead Bank in several districts and at
present it is the Lead Bank in 30 districts in the States of West Bengal,
Assam, Manipur and Tripura. UBI played a significant role in the spread
of banking services in different parts of the country, more particularly in
Eastern and North-Eastern India. UBI has sponsored 4 Regional Rural
Banks (RRB) one each in West Bengal, Assam, Manipur and Tripura.
- 4 - United Bank of India
Patel Rakesh H.
These four RRBs together have over 1000 branches. United Bank of
India has contributed 35% of the share capital/ additional capital to all
the four RRBs in four different states. In its efforts to provide banking
services to the people living in the not easily accessible areas of the
Sunder bans in West Bengal, UBI had established two floating mobile
branches on motor launches which moved from island to island on
different days of the week. The floating mobile branches were
discontinued with the opening of full-fledged branches at the centres
which were being served by the floating mobile branches.
The Bank has three full fledged Overseas Branches one
each at Kolkata, New Delhi and Mumbai. The operations of 500
branches have been computerised either fully or partially and Electronic
Fund Transfer System came to be implemented in the Bank's branches
at Kolkata, Delhi, Mumbai and Chennai. The Bank has ATMs all over the
country and having Cash Tree arrangement with 11 other Banks.
The name of the RRBs, the location of the Head Office and the name of
the present Chairmen are given in the following table:
Name of the RRB Location of H.O. Name of the Chairman
Bangiya Gramin Vikash Bank
Berhampur, W. Bengal
Sri Samar Sengupta
Assam Gramin Vikash Bank
Guwahati, Assam Sri Ramdev Yadav
Tripura Gramin Bank Agartala, TripuraSri Nilmani
Gangopadhyay
Manipur Rural Bank Imphal, Manipur Sri Umesh Prasad Singh
- 5 - United Bank of India
Patel Rakesh H.
Assam Gramin Vikash Bank has been constituted on
12th January, 2006 following Govt. of India's Notification amalgamating
erstwhile 4 RRBs ,viz.,Pragjyotish Gaonlia Bank, Cachar Gramin Bank,
Subansiri Gaonlia Bank and Lakhimi Gaonlia Bank in the State of
Assam. Recently, on 21st February, 2007, Bangiya Gramin Vikash Bank
has been constituted following Govt. of India's Notification amalgamating
erstwhile 5 RRBs,viz., Gaur Gramin Bank, Mallabhum Gramin Bank,
Sagar Gramin Bank, Nadia Gramin Bank and Murshidabad Gramin
Bank in the State of West Bengal.
These RRBs as on 31.12.06 are having total deposit of
Rs. 5771.33 Cr. and outstanding advance of Rs. 2690.80 Cr. Out of this
advance amount Rs. 1862.64 Cr. is in Priority Sector, which includes Rs.
603.06 Cr. in Agricultural Sector and Rs. 1259.58 Cr. in SSI and other
priority sector and it turns out to be 69%, 22% and 47% of total
outstanding advance respectively.
United Bank of India has a RRB Department headed by a
General Manager to look after and monitor the functioning of the
sponsored RRBs.
- 6 - United Bank of India
Regional Distribution of Branches
6%
4%
5%
4%
64%
17%
East
North East
Central
Western
Northern
Southern
Patel Rakesh H.
Regional Distribution of Branches
(As on 18.12.2009, 1484 Branches: All Under CBS)
- 7 - United Bank of India
East 64%
North East 17%
Central 6%
Western 4%
Northern 5%
Southern 4%
Patel Rakesh H.
BANK PROFILE
1. NAME OF THE BANK : UNITED BANK OF INDIA
2. HEAD OFFICE : KOLKATA-70001
3. TOTAL BRANCHES : 1484
4. WEBSITE : www.unitedbankofindia.com
5. BOARD OF DIRECTORS:
BOARD OF DIRECTORS Name Designation
Shri Satish C. Gupta Chairman and Managing Director
Foreign Currency (Domestic) Account denominated in foreign currency
by depositing foreign currency (a) Saved from your trip abroad (b)
Received as gift from person/s during their visit to India.
- 33 - United Bank of India
Patel Rakesh H. The balances held in the account can be used for any
purpose for which foreign exchange can be bought from a bank in India.
Special Features of liberalized schemes:
1. Endorsement of foreign exchange purchased on passport is
optional.
2. International Credit Cards/ ATM Cards/ Debit Cards can be used
outside India for making payment for permissible expenses/
permissible imports to the extent of limit of the card.
3. Foreign exchange can be purchased from any of our authorized
branch by deposit of cash if foreign exchange is equivalent to INR
50000/- only, otherwise payment has to be made by way of a
crossed cheque/demand draft only.
Foreign Currency Non-Resident A/C
Eligibility:
Non-Resident Indians(NRI) and Persons of Indian Origin
(PIO), singly and/ or jointly with a non resident only.
- 34 - United Bank of India
Patel Rakesh H. Currency of Deposit:
US Dollar, Pound & Euro.
Forms of deposit:
Term Deposit only.
Period of Deposit:
Minimum 1 Year to Maximum 5 Years.
Rate of Interest:
As published from time to time.
Advantages:
In terms of prevailing provisions of Income Tax Law, interest income
from such deposits is exempt from Income Tax. Balances held in
such accounts are also exempt from Wealth Tax. Further, gifts made
to close relatives are free from Gift Tax.
Facility of automatic renewal of deposits on maturity period and safe
custody of deposit receipts are also available in UBI.
Non-Resident Ordinary Account (NRO)
Eligibility:
Non-Resident Indians(NRI) and Persons of Indian Origin
(PIO), singly and/ or jointly with a Non-Resident/ Resident.
- 35 - United Bank of India
Patel Rakesh H. Form of Deposit:
Savings/ Current/ Recurring/ Term Deposit
Period of Deposit:
Maximum of 10 Years in case of Term Deposits.
Rate of Interest: As applicable from time to time. Features:
Joint Account with Resident Indian permissible.
Loan facility against security of Recurring/ Term Deposit.
Facility of automatic renewal of deposits on maturity and safe
custody of deposit receipt is also available.
DEPOSITS
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Patel Rakesh H.
OTHER BANKING SERVICES OF UBI
- 37 - United Bank of India
Year Rs. In crore
Mar'07 37,167
Mar'08 46,971
Mar'09 54,535.90
Sep'09 64739.55DEPOSITS
37,167
46,971
54,535.9064739.55
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
Mar'07 Mar'08 Mar'09 Sep'09
Year
Rs.
in c
rore
Patel Rakesh H. Other services are a service given by bank other than the
general banking services like Loans & Advances, Account & Deposits
etc. The Other service include services like collection of tax, E-Payment,
life insurance, otlas(online tax a
ccounting system), mobile service etc.
The United Bank of India also provide all these types of
services which are mentioned below:
United International ATM cum VISA Debit Card
Collection of Tax
Corporate Banking
E-Payment
Internet Banking
United Ujjwal Bhawishya Insurance
Safe Deposit Locker
United Demat
Online Tax Accounting System (OTLAS)
United Mobile Services
United Telebanking
- 38 - United Bank of India
Patel Rakesh H.
United International ATM cum VISA Debit Card
Carry the customer’s Bank account in his wallet thus giving him
complete and instant access to the money in his account without
the hassles of carrying cash.
"United International Debit Card" the ATM cum VISA debit card of
the bank provides access to customers account from anywhere
and at any time.
Every purchase and ATM transaction appears in customer
passbook / statement of accounts, so that he can track his
spending.
The customer of member banks can use their ATM
card at any ATMs of member Banks. There are 12 member Banks under
CashTree Network. In addition to this customer can have access to
more than 18000 VISA enabled ATMs in India and more than one million
ATMs across 221 countries worldwide.
Above all customer can enjoy his shopping/ dinning and pay
through the card in more than 100000 VISA accredited shops
establishment in India and more than 30 million worldwide.
United International Visa Debit card is issued Free of Charges.
- 39 - United Bank of India
Patel Rakesh H.
Collection of Tax
The bank accepts direct tax like Income Tax, Corporate
Tax, Wealth Tax, Gift Tax, Estate Duty, Indirect tax like Excise duty,
Customs duty and Service Tax and State Tax like Sales tax and
Professional Tax through the designated branches. Tax payers are
required to fill up the respective Challans correctly for prompt credit of
the Tax amount to Govt. A/c. In case of payment by cheque, double
stamping of dates indicating the date of tender and date of realization of
cheque is affixed on the Challan and the Challan is released after
realization. If the assessee reports loss of receipted copy of Challan, its
duplicate is not issued. Instead a certificate is issued recording the
details of Tax payment.
E-Payment
Payment of Service Tax through `e-payment' has been
made mandatory w.e.f. 01.10.2006 for the tax payers paying Service
Tax of Rs. 50.00 lacs and above in a year. The bank offers `e-payment'
facility through internet banking for payment of Service Tax at specified
branches.
- 40 - United Bank of India
Patel Rakesh H.
Corporate Banking
Corporate Business Group at Head office, Kolkata caters
to the needs of large Corporate, NBFCs, Housing Finance Companies
etc. providing a wide range of financial products/services with
requirements exceeding Rs.25.00 Crores in the form of :
I) Term loans to fund capital expenditure for setting up new units,
expansion and modernization projects, under Infrastructure and non-
Infrastructure Sectors.
II) Working capital finance to various Units.
III) Corporate Loans for a variety of business related purposes.
IV) Export Credit.
Proposals from the Corporates will be handled directly at
Corporate Business Group ensuring speedy disposal.
- 41 - United Bank of India
Patel Rakesh H.
Internet Banking
'United Online' internet banking service of United Bank
of India is a latest value added service introduced for his account holder.
"Internet Banking" refers to the internet banking service offered by UBI
to the user including services such as enquiry about balance in the
Account, details about transactions in the Account(s), statement of
Account, transfer of funds and any other service as UBI may decide to
provide from time to time through internet. It provides services such as:
1. Query Mode:
a. Account view.
b. Cheque Inquiry Status
c. Statement of account.
2. Fund Transfer Mode:
a.To own account.
b. To third party account of Internet enabled Branch of UBI.
3. Payment of Taxes Mode:
a . E-Payment of Indirect Tax (Central excise & service Tax)
b. E-payment of Direct Tax
c. E-payment of Commercial Tax
- 42 - United Bank of India
Patel Rakesh H.
United Ujjwal Bhawishya Insurance
United Bank of India is proud to offer a range of Life
Insurance solutions from Tata AIG Life Insurance Company Limited.
Tata AIG Life Insurance Company Limited (Tata AIG Life)
is a joint venture company, formed by the Tata Group and American
International Group, Inc. (AIG). Tata AIG Life provides insurance
solutions to individuals and corporate. Tata AIG Life Insurance Company
was licensed to operate in India on February 12, 2001 and started
operations on April 1, 2001.
The life insurance solutions from Tata AIG with United
Bank of India have been especially developed to overcome any
unexpected event and help cater to all people’s financial needs – Child’s
education, Child’s marriage, person’s retirement or protection for his
family from uncertainties.
- 43 - United Bank of India
Patel Rakesh H.
Locker
Safe Deposit Locker is an important service which gives the
customer a facility for safe keeping of articles by hiring a locker from
the Bank. Locker facility is primarily intended for the benefit of
account holders giving by the bank.
One or more individuals, firms, companies and other associations
may hire a locker.
The lockers are of different sizes and the rate of rent varies with the
size of the locker. All rents are payable in advance within due date.
The applicant who has been allotted a locker may keep a deposit (but
not as a condition for allotment), the annual interest from which would
take care of the annual rent of the locker.
Those who opt for annual payment and default in payment will not be
allowed to operate the locker till the arrear rent is cleared.
Nomination facility is available for Safe Deposit Lockers also.
- 44 - United Bank of India
Patel Rakesh H.
OTLAS
Online Tax Accounting System (OTLAS) was
introduced in United Bank of India w.e.f. 01.06.2004 for collection of
Direct Tax. Under this system tax payers can make payment maintained
with the branch or by a cheque/ draft drawn on the same branch or
another bank branch at the same center where the payment is made.
The payment can also be made by outstation cheque/ draft. In that case
the Challan will be handed over to the tax payer after realisation of the
proceeds of payment by Cheque. While depositing tax, identical
information is to be furnished in both parts of the Challan. Quoting of
PAN/ TAN by the taxpayer is mandatory for prompt credit of the tax to
Govt. A/c.
United Demat
United Bank of India offers Depository Services, "United
Demat" with its own server attached to the Premier Depository, Central
Depository Services (India) Ltd. (CDSL).
Initially "United Demat" has been launched in nine
branches spread across the country.
- 45 - United Bank of India
Patel Rakesh H.
United Mobile Services
United Mobile Service is available to customers of
selected branches. The facility is provided by using SMS (Short
Messaging Service) technology. So if persons have mobile phone and
registered as a user of this facility, they can avail this service from any
location in India and abroad.
Facilities available under the Scheme are:
Balance Inquiry
Mini Statement of Accounts
Cheque Status Inquiry
Inquiry relating to maturity of Term Deposits
Cheque Book Request
The facility can store his/her mobile number also
(optional) and in such situation, he/she need not state his account type
and account number for availing the facility.
- 46 - United Bank of India
Patel Rakesh H.
United Telebanking
Facilities and Operational procedure:
The major facilities available are as follows:
Balance enquiry
Last 5 transactions enquiry
Mini Statement through fax/e-mail
Bank product related information
Fund transfer within linked account
PIN Change.
ATM and Branch location details by fax
Operational Procedure:
1. Customers willing to apply for Telebanking facilities have to fill up
the application and the same has to be submitted to the respective
branch, where the customer is having the account.
2. The Customer shall self generate the PIN by dialing 033-22428940
3. PIN to be generated between 10 AM to 6 PM on any working day,
after 24 hours of submission of application.
- 47 - United Bank of India
Patel Rakesh H.
EXIM PRODUCTS AND SERVICES
Product and Services for Exporters:
Pre-shipment finance in Rupee and foreign currency. Post-shipment finance in Rupee and foreign currency. Exporters' Gold Card Scheme. All types of remittances as permissible under FEMA 1999. Competitive and finer exchange rates/ Service charges. Exchange Earners Foreign Currency (EEFC) accounts facility.
Products and Services for Importers:
Establishment of Import letters of credit for imports into India.
Arrangement of buyer's credit at competitive rates.
Handling of Import Bills on collection basis.
Remittance of advance payment against Imports.
Issuance of Guarantees as permissible under FEMA.
- 48 - United Bank of India
Patel Rakesh H. Credit reports on overseas suppliers.
Competitive and finer exchange rates/ service charges.
Remittances
Demand Drafts / Banker's Cheque:
1) Application for purchase of Demand Draft may be made by a
duly filled in form signed by the applicant (with address) giving
full particular of the Draft intended to be purchased.
2) Exchange shall be charged as per Bank's schedule of charges.
3) No bearer Draft will be issued.
Telegraphic Transfer:
1) A Telegraphic Transfer is a form of remittance, which is advised
by telegram, telex or fax machines.
2) The fundamental principles of such transfer are otherwise
identical with the Mail Transfer.
- 49 - United Bank of India
Patel Rakesh H.3) Drawee Branches afford credit of Telegraphic Transfer to
customers account within a maximum period of 2 days from the
date of deposit of funds for TT.
4) Exchange shall be charged as per Bank's schedule of charges.
ECS (Electronic Clearing Services)
What is Electronic Clearing Service (Debit Clearing &
Credit Clearing)?
The Reserve Bank of India has introduced the
Electronic Clearing Service (Debit) Scheme to provide faster method of
effecting periodic and repetitive payment by direct debit to customers
accounts (duly authorised) thereby minimizing paper transactions and
increasing customers satisfaction and Electronic Clearing Service
(Credit) Scheme to provide institutions having to make large number of
payments (such as Interest/Dividends) can directly deposit the amount
into the bank accounts of the share-holders/ depositors/ investors
without having to issue paper instruments involving printing of warrants
(in costly MICR formats) dispatching them by post (most often by Regd.
Post).
Benefits under ECS (Debit) & ECS (Credit):
- 50 - United Bank of India
Patel Rakesh H. Faster collection of bills by the Companies and better Cash
management by them.
Eliminates the need to go to the collection centres/banks by the
customers and no need to stand.
Automatic debiting/crediting to the accounts once the mandates are
given by the customers to that effect cuts down the procedural
delay.
Loss of instruments in transit or fraudulent encashment there of
totally eliminated
Payment on due date.
Limit:
There would be no per transaction limit for ECS, EFT
transactions with effect from November, 01, 2004.
Service Charge:
To encourage electronic mode of payment which is fast
and efficient, Service Charge for ECS for beneficiary is free of cost and
for user is negotiable.
- 51 - United Bank of India
Patel Rakesh H.
EFT (Electronic Fund Transfer)
What is RBI EFT System?
RBI EFT is a scheme introduced by Reserve Bank of
India (RBI) to help banks offer their customers money transfer service
from account to account of any bank branch to any other bank branch.
The EFT system presently covers all the branches of 27 Public Sector
Banks, Selected Scheduled Commercial Banks, Scheduled State Co-
operative Banks and Scheduled Urban Co-operative Banks.
Any Limit on the amount of individual transaction?
There would be no per transaction limit for ECS, EFT
transactions with effect from November 01, 2004.
Service Charge:
Upto Rs.10000/-, Rs. 35/- per transaction.
Above Rs.10000/- to Rs.100000/-, Rs.3/- per thousand.
Above Rs.100000/-, Rs.2.50 per thousand.
- 52 - United Bank of India
Patel Rakesh H.
National Electronic Fund Transfer (NEFT)
United Bank of India has joined live operation of NEFT in
16.08.2006 as informed by R.B.I. With addition of United Bank of India,
RBI NEFT membership goes to 34 banks with 6623 branches of which
36 branches of (UBI) are participating in NEFT Live Operation.
There are four batches of NEFT daily at 9.30 A.M., 10.30
A.M., 12.00 Noon & 4.00 P.M. on weekdays and 9.30 A.M., 10.30 A.M.
& 12.00 Noon on Saturdays.
NEFT is credit pushed transaction i.e. only credit can be
sent, debit cannot be raised. Only Inter Bank transactions (i.e. within
Bank branches of other Banks) are routed through NEFT.
United Bank of India, Mumbai Branch will act as NEFT
Service Branch, RBI Mumbai will act as NEFT Centre and IBR
Department, H.O. will act as Bank's Service Centre. Net amount will be
debited/credited to the Bank A/c of the Bank at NEFT Centre of RBI.
- 53 - United Bank of India
Patel Rakesh H.
UBI POLICES
Mediclaim Insurance Scheme for Retired Employees
1. Company to extend the Mediclaim facility:
Bajaj Allianz General Insurance Co. Ltd.
2. Objective:
To extend mediclaim insurance benefits upto a maximum
limit of Rs.1.5 lacs on floater basis to each of the retired employees and
his/her spouse who would become the member of the scheme for
treatment in India against payment of Premium of Rs.2928/-.
3. Family: Retired employee himself/herself and his/her spouse.
4. Maximum Entry Age Limit: 80 years.
5. Disease: Any illness, ailment, disease or injury warranting
hospitalization. All pre-existing diseases will remain covered.
6. Pre & Post Hospitalisation period: 30 days as pre-hospitalisation
and 60 days post-hospitalization period.
7. Room Tariff Per Day: Rs.750/-(for ICU/ICCU-Rs.2,000/- &
Cataract Operation- Rs.7,500/-)
8. Minimum Group Size: 1000 retired employees.
- 54 - United Bank of India
Patel Rakesh H.
Policy on Collection of Cheques/Instruments
Keeping in view the technological progress in payment
and settlement systems and the qualitative changes in operational
systems and processes that have been undertaken by a number of
banks, the Reserve Bank of India had, with effect from 1st November
2004, withdrawn its earlier instructions to commercial banks on (i)
Immediate Credit of local/outstation cheques, (ii) Interest Payment for
Delayed Collection.
Immediate Credit of Local Cheques / Instruments:
Branches / extension counters of the Bank will provide
immediate credit for Local / Outstation Cheques / Instruments upto an
aggregate value of Rs.15,000/- and in case of Prepaid Instruments like
DD / PO / Bankers’ Cheque / Dividend Warrants /etc. and also Cheques
issued by Govt.Depts. / Undertakings, PSU, etc.upto an aggregate value
of Rs.20,000/-
Payment of Interest for delayed Cheques:
As part of the compensation policy, the Bank will pay
interest to its customer on the amount of collection instruments in case
there is delay in giving credit beyond the time period.
- 55 - United Bank of India
Patel Rakesh H.
SCOPE OF THE STUDY
Each and every project study along with its certain
objectives also has scope for future. And this scope in future gives to
new researches a new need to research a new project with a new
scope. Scope of the study not only consist one or two future business
plan but sometime it also gives idea about a new business which
becomes much more profitable for the researches then the older one.
Scope of the study could give the projected scenario for
a new successful strategy with a proper implementation plan. Whatever
scope I observed in my project are not exactly having all the features of
the scope which I described above but also not lacking all the features.
Research study could give an idea of network expansion for capturing
more market and customer with better services and lower cost, with
out compromising with quality.
In future customer requirements could be added with the product and
services for getting an edge over competitors.
Consumer behavior could also be used for the purpose of launching a
new product with extra benefits which are required by customers for
their account (saving or current) and/or for their investments.
Factors which are responsible for the performance for bank can also
be used for the modification of the strategy and product for being
more profitable.
- 56 - United Bank of India
Patel Rakesh H.
OBJECTIVE OF THE STUDY
Project study which is being conducted by me is not only
a formality for the fulfillment of the t.y.b.b.a. project report, But being a
management student and a good employee I tried my best to extract
best of the information available in the market. The objectives which are
being covered by me in this project are as following-
To Understand how banking activities actually takes place.
To know the concept of loan, deposits & other services.
To gain an insight and in depth knowledge about banking
products/Services.
To know how the other services provided by bank to its customer.
To know the customer’s interest in bank’s various products.
To have an insight into the attitudes and behaviors of customers.
To access the degree of satisfaction of the consumers.
- 57 - United Bank of India
Patel Rakesh H.
LIMITATIONS OF THE STUDY
Although the study was carried out with extreme
enthusiasm and careful planning there are several limitations, which
handicapped the research viz,
1. Time Constraints:
The time stipulated for the project to be completed is less
and thus there are chances that some information might have been left
out, however due care is taken to include all the information needed.
2. Sample size:
Due to time constraints the sample size was relatively
small and would definitely have been more representative if I had
collected information from more respondents.
3. Accuracy:
It is difficult to know that all the respondents gave
accurate information; some respondents tend to give misleading
information. And the tool, used for research is structured questionnaire
which may give the instrumental error if any question has not been
understood by the individual.
4. Difficult to find respondents:
- 58 - United Bank of India
Patel Rakesh H. It was difficult to find respondents as they were busy in
their schedule, and collection of data was very difficult. Therefore, the
study had to be carried out based on the availability of respondents.
RESEARCH
Meaning of Research
Research in common parlance refers to a search for
knowledge. Once can also define research as a scientific and systematic
search for pertinent information on a specific topic. In fact, research is
an art of scientific investigation. Redman and Mory define research as a
“systematized effort to gain new knowledge.”
According to Clifford woody research comprises
defining and redefining problems, formulating hypothesis or suggested
solutions; colleting, organizing and evaluating data; making deductions
and reaching conclusions; and at last carefully testing the conclusions to
determine whether they fit the formulating hypothesis. Research is, thus,
an original contribution to the existing stock of knowledge making for its
advancement. It is the pursuit of truth with the help of study, observation,
comparison and experiment.
In short, the search for knowledge through objective
and systematic method of finding solution to a problem is research. The
systematic approach concerning generalization and the formulation of a
theory is also research.
As such the term ‘research’ refers to the systematic
method consisting of enunciating the problem, formulating a hypothesis,
- 59 - United Bank of India
Patel Rakesh H.collecting the facts or data, analyzing the facts and reaching certain
conclusions either in the form of solutions towards the concerned
problems or in certain generalizations for some theoretical formulation.
RESEARCH DESIGN
The formidable problem that follows the task of defining
the research problem is the preparation of the design of the research
project, popularly known as the “research design”. Decisions regarding
what, where, when, how much, by what means concerning an inquiry or
a research study constitute a research design. “A research design is the
arrangement of conditions for collection and analysis of data in a
manner that aims to combine relevance to the research purpose with
economy in procedure.” In fact, the research design is the conceptual
structure within which research is conducted; it constitutes the blueprint
for the collection, measurement and analysis of data. As such the design
includes an outline of what the researcher will do from writing the
hypothesis and its operational implications to the final analysis of data.
The best suitable research designs for my study is
Descriptive design which one of the most important and widely used
design in research. The studies concerned with the characteristics of
individual or group are the examples of descriptive research studies.
Most of the social research comes under this category. The aim of this
study is to obtain complete and accurate information from the individual
or group.
- 60 - United Bank of India
Patel Rakesh H.
METHOD OF DATA COLLECTION
To know the response, the researcher used
questionnaire method. It has been designed as a primary research
instrument. Questionnaires were distributed to respondents and they
were asked to answer the questions given in the questionnaire. The
questionnaires were used as an instrumentation technique, because it is
an important method of data collection. The success of the
questionnaire method in collecting the information depends largely on
proper drafting. So in the present study questions were arranged and
interconnected logically. The structured questionnaire will reduce both
interviewers and interpreters bias. Further, coding and analysis was
done for each question’s response to reach into findings, suggestions
and finally to the conclusion about the topic.
- 61 - United Bank of India
Patel Rakesh H.
TYPES OF DATA
For the purpose of project, data is very much required
which works as a food for process which will ultimately give output in the
form of information. So before mentioning the source of data for the
project I would like to mention that what type of data I have collected for
the purpose of project and what it is exactly.
PRIMARY DATA:
Primary data are those collected by the investigator
himself for the first time and thus they are original in character, they are
collected for a particular purpose. A well-structured questionnaire was
personally administrated to the selected sample to collect the primary
data.
SECONDARY DATA:
Secondary data are those, which have already been
collected by some other persons for their purpose and published.
Secondary data are usually in the shape of finished products. Two types
of secondary data were collected for the preparation of the project work:
Internal Data was generated from company’s brochures, manuals
and annual reports.
- 62 - United Bank of India
Patel Rakesh H. External Data, on the other hand, was generated from magazines,
research books, intranet and internet (websites).
Research Method
Descriptive Method
A descriptive study tries to discover answers to the
questions who, what, when, where, and, sometimes, how. The
researcher attempts to describe or define a subject, often by creating a
profile of a group of problems, people, or events. Such studies may
involve the collection of data and the creation of a distribution of the
number of times the researcher observes a single event or characteristic
(the research variable), or they may involve relating the interaction of
two or more variables. Organizations that maintain databases of their
employees, customers, and suppliers already have significant data to
conduct descriptive studies using internal information. Yet many firms
that have such data files do not mine them regularly for the decision-
making insight they might provide.
This descriptive study is popular in business research
because of its versatility across disciplines. In for-profit, not-for-profit and
government organizations, descriptive investigations have a broad
appeal to the administrator and policy analyst for planning, monitoring,
and evaluating. In this context, how questions address issues such as
quantity, cost, efficiency, effectiveness, and adequacy. Descriptive
studies may or may not have the potential for drawing powerful
- 63 - United Bank of India
Patel Rakesh H.inferences. A descriptive study, however, does not explain why an event
has occurred or why the variables interact the way they do.
SAMPLE METHOD:
Convenience sampling method is used for the survey of
this project. It is a non-probability sample. This is the least reliable
design but normally the cheapest and easiest to conduct .In this method
Researcher have the freedom to choose whomever they find, thus the
name convenience.
SAMPLE SIZE:
Sample size denotes the number of elements selected
for the study. For the study, 50 respondents were selected at random.
SAMPLING METHOD:
A sample is a representative part of the population. In
sampling technique, information is collected only from a representative
part of the universe and the conclusions are drawn on that basis for the
entire universe. A convenience sampling technique was used to collect
data from the respondents.
DATA COLLECTION METHODS:-
Data is collected by survey method through filled questioners.
RESEARCH INSTRUMENTS:-
- 64 - United Bank of India
Patel Rakesh H. Questionnaire design to gather the information from
respondents having multiple choice questions, open-ended questions.
ANALYSIS (Through Questionnair)
Q: 1 How Do you come to know about UBI bank?
1. Marketing
2. Ad’s
3. Exhibition
4. Word of mouth
5. Others
Result: Most of them know to UBI bank by Marketing and Exhibition, very less
percentage know by word of mouth & ads.
Q:2 Which factors play an important role while opening an account?
1. Ad’s
2. Special offer
3. Operational staff
4. Convincing power
5. Credibility of Bank
- 65 - United Bank of India
52%
10%
30%
3%
5%
0%
10%
20%
30%
40%
50%
60%
Marketing Ad’s Exhibition
Word ofmouth
Others
10%
20%
5%
52%
13%
0%
10%
20%
30%
40%
50%
60%
Patel Rakesh H.
Result: Most of the respondents thinks that credibility of bank play a important role
to bring customers.
Q:3 Do UBI bank provides these services faster than another Bank?
1. Yes
2. No
Result: Most of the respondents think UBI bank provide faster service than other
banks.
Q:4 Are you facing any problem while maintain your account at UBI bank?
1. Yes
2. No
- 66 - United Bank of India
35%
65%
0%
10%
20%
30%
40%
50%
60%
70%
Yes No
8%
92%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Yes No
Patel Rakesh H.
Result: Very less respondents are facing problems for maintain the account.
Q: 5 Do you want to suggest any improvements in UBI bank?
1. New Branches
2. Extra charges
3. Fast Service
4. Monthly Statement
5. Others
Result: Equal number of person suggests opening new branches and providing fast
service and very less suggest about extra charges and monthly charges.
Q:6 Do you think that UBI Bank is a safe place for your money?
1. Yes
2. No
- 67 - United Bank of India
27%
10%
27%30%
6%
0%
5%
10%
15%
20%
25%
30%
35%
New Bra
nche
s
Extra
char
ges
Fast S
ervic
e
Mon
thly
State
ment
Other
s
5%
95%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Yes No
Patel Rakesh H.
Result: Most of the respondents are think that UBI Bank is a safe place for money.
Q: 7 DO you think UBI Bank needs more advertisement?
1. Yes
2. No
Result: The 55% of respondents think that UBI Bank need more advertisement and
45% respondents think that UBI Bank need not more advertisement.
Q: 8 Your level of satisfaction of the banking services given by UBI Bank
1. Very Satisfied
2. Satisfied
3. Normal
4. Dissatisfied
5. Very dissatisfied
- 68 - United Bank of India
45%
55%
0%
10%
20%
30%
40%
50%
60%
Yes No
68%
20%
8% 3%1%
0%10%
20%30%
40%50%
60%70%
80%
Very S
atisf
ied
Satisf
ied
Normal
Dissatis
fied
Very d
issati
sfied
Patel Rakesh H.
Result: Most of the respondents are very satisfied with the banking services given
by UBI bank.
FINDINGS
1. Most of the persons satisfied with saving account, they do not want to
invest in other products of bank.
2. Most of the persons accounts running satisfactory in UBI Bank.
3. Bank provides faster service than other private and public sector
banks.
4. Loan is any amount borrowed from the financial institution or bank
against keeping some property as security.
5. Each and Every person is aware of loan and its types.
RECOMMENDATIONS
1. UBI bank should open new branches in rural areas.
2. Extra charges should reduce.
3. Staff should more cooperative than before.
4. Force on selling other products like fixed deposit, insurance policy to
their customers.
- 69 - United Bank of India
Patel Rakesh H.
CONCLUSION
Having known deeply about the United Bank of India
one (i) can definitely say that its future is very bright. Large amount of
customers are covered by the bank in all over the country. Each
branch of the bank is doing a successful business and earning very
good return.
United Bank of India is one of the fastest growing banks
all over the country. Since the bank was incorporated in 1977 with the
primary objective of meeting a social need that of household for their
housing need, it has been growing spontaneously and making
success all over the country through its powerful management
system.
Through banking service the bank covered large amount
of customers in almost all financial fields, like Loan & Advances,
Securities, internet banking, Insurance, Fixed deposits and recently
developing various cards, Even today also different type of
investment schemes are developing and provide different investment
to the customers.
- 70 - United Bank of India
Patel Rakesh H. The United Bank of India has been achieving its
targeted goals and still it is growing day by day.
BIBLIOGRAPHY
The following sources become very much helpful for me