RECRUITMENT AND SELECTION PROCESS OF HDFC BANK

RECRUITMENT AND SELECTION PROCESS OF HDFC BANK

PROJECT REPORT SUBMITTED TOWARDS

PARTIAL FULFILLMENT OF

POST GRADUATE DIPLOMA IN MANAGEMENT

(Approved by AICTE, Govt. of India)

(Equivalent to MBA)

ACADEMIC SESSION

2009-11

Under the Guidance of: Submitted By:

Prof. S.K. Dash Deepanshu Kushik (BM- 09062)

Associate Professor( HRM) Jyoti Verma (BM- 090)

IMS, Ghaziabad Madhubala Sharma (BM-09099

Manisha Agarwal(BM-09100)

Mohsin Ali (BM-09111)

Nabonita Paul (BM-09112)

Nikhil singh (BM-09124)

Noopur Verma (BM-09131)

Nupur Sharma (BM-09132)

Prateek Dheer(BM- 09)

Nishi Shukla (BM-09245)

INSTITUTE OF MANAGEMENT STUDIES

C-238, BULANDSHAHR ROAD,

LAL QUAN, PB NO: - 57,GHAZIABAD -201009.

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DECLARATION

We hereby declare that all the information that has been collected, analyzed and documented

for the project is authentic possession of us.

We would like to categorically mention that the work here has neither been purchased nor

acquired by any other unfair means. However, for the purpose of the project, information

already compiled in many sources has been utilized.

(DEEPANSHU KAUSHIK)

(JYOTI VERMA)

(MANISHA AGARWAL)

(MADHUBALA SHARMA)

(MOHSIN ALI) (NABONITA PAUL)

(NIKHIL SINGH)

(NOOPUR VERMA)

(NUPUR SHARMA)

(PRATEEK DHEER)

(NISHI SHUKLA)

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CERTIFICATE

This is to certify that this is a report on “RECRUITMENT AND

SELECTION PROCESS OF HDFC BANK” submitted by Deepanshu

Kaushik, Jyoti Verma, Manisha Agarwal, Madhubala Sharma, Mohsin Ali,

Nabonita Paul,Nikhil Singh,Noopur Verma,Nupur Sharma,Nishi Shukla as

a part of the PGDM curriculum for the third trimester. The work has been

undertaken and completed under the guidance of Prof. S.K.DASH and is

satisfactory.

Project Coordinator: PROF S.K.DASHDate: 27-03-10

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INSTITUTE OF MANAGEMENT STUDIESGHAZIABAD

CERTIFICATE

We hereby certify that content presented in the project entitled “RECRUITMENT

AND SELECTION PROCESS OF HDFC BANK” in the partial fulfillment of the

requirement for the award of the degree of POST GRADUATE DIPLOMA IN

MANGEMENT from IMS GHAZIABAD is an authentic record of our own work,

carried out under the guidance of our project guide, Dr. S.K.DASH The matter

embodied in the project has not been copied by us from any sources.

PLACE- GHAZIABAD Deepanshu Kaushik(BM-09062) DATE Jyoti Verma(BM- Manisha Agarwal(BM-09100) Madhubala Sharma(BM-09099) Mohsin Ali(BM-09111) Nabonita Paul(BM-0112) Nikhil singh(BM-09124) Noopur Verma(BM-09131) Nupur Sharma(BM-09132) Prateek Dheer(BM-09) Nishi shukla(BM-09245)

This is to certify that above statements made by the students are true to the best of

my knowledge.

PROF. S.K.DASH (project coordinator)

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ACKNOWLEDGEMENT

Perseverance, inspiration and motivation have always played a key role in the success of

any venture. A successful and satisfactory completion of any project is the outcome of the

invaluable aggregate contribution of different persons fully in radical direction, explicitly or

implicitly.

Whereas vast, varied and valuable reading efforts leads to substantial acquisition of

knowledge via books and allied information sources. True expertise excludes from collateral

practical works and experiences.

Words have never seemed as inadequate as now, when we are endeavoring to express

our heartfelt gratitude at the culmination of the project, to all those made it possible. Even

the best effort is waste without proper guidance and advice. We highly solicit to

PROF. S.K.DASH for launching us into this foray and for giving time-to-time suggestion

and their valuable guidance, co-operation, inspiration and keen supervision to our project.

Last but not the least; we are grateful to God, our Parents, Elders and Friends for

encouraging us to take up this challenging task.

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PREFACE

The primary objective of this report is to provide the insight into the core

of RECRUITMENT AND SELECTION PROCESS OF HDFC BANK

and an understanding Banking Policy & its importance in relation to

Indian Banking Industry.

We hope that the report has made the text interesting and lucid. In writing

this report, we have benefited immensely by referring to many

publications and articles. We express my gratitude to all such authors and

publishers.

Any suggestions to improve this report in contents or in style are always

welcome and will be appreciated and acknowledged.

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ABSTRACT

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.

HDFC Bank deals with three key business segments – Wholesale Banking Services, Retail

Banking Services, Treasury. It has entered the banking consortia of over 50 corporates for

providing working capital finance, trade services, corporate finance and merchant banking.

It is also providing sophisticated product structures in areas of foreign exchange and

derivatives, money markets and debt trading and equity research.

HDFC’s “Human Resource Management function that helps managers recruit, select, train

and develop members for an organization. Obviously, HRM is concerned with the people’s

dimension in organizations.

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TOPIC: SELECTION AND RECRUITMENT PROCESS OF HDFC BANK

TABLE OF CONTENTS

S.NO TOPIC PAGE NO.

1. LOGO 92. History of Banking 103. Banking Structure in india 114. Indian Banking system 125. Indian banking Industry Analysis 136. Objective of the study 157. Introduction 168. History 189. Mission and Buisness Strategy 1910. Management of HDFC bank 2111. Awards to HDFC bank 2212. Product of HDFC bank 2513. About HR Department of HDFC bank 3414. Recruitment 3615. Recruitment and Selection process 3716. Findings 4817. Recommendations 4918. Suggestions 5019. Conclusion 5120. Refrences 52

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LOGO

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HISTORY OF BANKING

Banking is nearly as old as civilization. The history of banking could be said to have started with

the appearance of money. The first record of minted metal coins was in Mesopotamia in about

2500B.C. the first European banknotes, which was handwritten appeared in1661, in Sweden.

cheque and printed paper money appeared in the 1700’s and 1800’s, with many banks created to

deal with increasing trade.

The history of banking in each country runs in lines with the development of trade and industry, and

with the level of political confidence and stability. The ancient Romans developed an advanced

banking system to serve their vast trade network, which extended throughout Europe, Asia and

Africa.

Modern banking began in Venice. The word bank comes from the Italian word “ban co”, meaning

bench, because moneylenders worked on benches in market places. The bank of Venice was

established in 1171 to help the government raise finance for a war.

At the same time, in England merchant started to ask goldsmiths to hold gold and silver in their

safes in return for a fee. Receipts given to the Merchant were sometimes used to buy or sell, with

the metal itself staying under lock and key. The goldsmith realized that they could lend out some of

the gold and silver that they had and charge interest, as not all of the merchants would ask for the

gold and silver back at the same time. Eventually, instead of charging the merchants, the goldsmiths

paid them to deposit their gold and silver.

The bank of England was formed in 1694 to borrow money from the public for the government to

finance the war of Augsburg against France. By 1709, goldsmith were using bank of England notes

of their own receipts.

New technology transformed the banking industry in the 1900’s round the world, banks merged into

larger and fewer groups and expanded into other country.

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BANKING STRUCTURE IN INDIA:

In today’s dynamic world banks are inevitable for the development of a country. Banks play a piv-

otal role in enhancing each and every sector. They have helped bring a draw of development on the

world’s horizon and developing country like India is no exception.

Banks fulfills the role of a financial intermediary. This means that it acts as a vehicle for moving fi-

nance from those who have surplus money to (however temporarily) those who have deficit. In ev-

eryday branch terms the banks channel funds from depositors whose accounts are in credit to bor-

rowers who are in debit.

Without the intermediary of the banks both their depositors and their borrowers would have to con-

tact each other directly. This can and does happen of course. This is what has lead to the very foun-

dation of financial institution like banks.

Before few decades there existed some influential people who used to land money. But a substan-

tially high rate of interest was charged which made borrowing of money out of the reach of the ma-

jority of the people so there arose a need for a financial intermediate.

The Bank have developed their roles to such an extent that a direct contact between the depositors

and borrowers in now known as disintermediation.

Banking industry has always revolved around the traditional function of taking deposits, money

transfer and making advances. Those three are closely related to each other, the objective being to

lend money, which is the profitable activity of the three. Taking deposits generates funds for lending

and money transfer services are necessary for the attention of deposits. The Bank have introduced

progressively more sophisticated versions of these services and have diversified introduction in

numerable areas of activity not directly relating to this traditional trinity

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INDIAN BANKING SYSTEM

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Non-Schedule Banks

State co-op Banks

Commercial Banks

Central co-op Banks and Primary Cr. Societies

Commercial Banks

Indian Foreign

Public Sector Banks Private Sector

BanksHDFC,

ICICI etc.

State Bank of India and its

Subsidiaries

Other Nationalized Banks

Regional Rural Banks

Reserve Bank of India

Schedule Banks

INDIAN BANKING INDUSTRY ANALYSIS:

The banking scenario in India has been changing at fast pace from being just the borrowers and

lenders traditionally, the focus has shifted to more differentiated and customized product/service

provider from regulation to liberalization in the year 1991, from planned economy to market.

Economy, from licensing to integration with Global Economics, the changes have been swift. All

most all the sector operating in the economy was affected and banking sector is no exception to this.

Thus the whole of the banking system in the country has undergone a radical change. Let us see

how banking has evolved in the past 57 years of independence.

After independence in 1947 and proclamation in 1950 the country set about drawing its road map

for the future public ownership of banks was seen inevitable and SBI was created in 1955 to

spearhead the expansion of banking into rural India and speed up the process of magnetization.

Political compulsion’s brought about nationalization of bank in 1969 and lobbying by bank

employees and their unions added to the list of nationalized banks a few years later.

Slowly the unions grew in strength, while bank management stagnated. The casualty was to the

customer service declined, complaints increased and bank management was unable to item the rot.

In the meantime, technology was becoming a global phenomenon lacking a vision of the future and

the banks erred badly in opposing the technology up gradation of banks. They mistakenly believed

the technology would lead to retrenchment and eventually the marginalization of unions.

The problem faced by the banking industry soon surfaced in their balance sheets. But the prevailing

accounting practices unable banks to dodge the issue.

The rules of the game under which banks operated changed in 1993. Norms or income Recognition,

Assets classification and loan loss provisioning were put in place and capital adequacy ratio become

mandatory. The cumulative impact of all these changes has been on the concept of state ownership

in banks. It is increasingly becoming clear that the state ownership in bank is no longer sustainable.

The amendment of banking regulation act in 1993 saw the entry of new private sector banks and

foreign banks.

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MAJOR PLAYER IN INDIA

1. HDFC BANK LTD

2. ICICI BANK LTD

3. STATE BANK OF INDIA LTD

4. PUNJAB NATOINAL BANK LTD

5. BANK OF BARODA LTD

6. FEDERAL BANK LTD

7. AXIS BANK LTD

8. ING VYSYA BANK LTD

9. IDBI BANK LTD

10. INDUSIND BANK LTD

11. YES BANK LTD

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OBJECTIVES OF THE STUDY

PRIMARY OBJECTIVE:

To find the Recruitment and Selection System in the organization.

To study the process of intake of employees with relation to Experience, Communication

skills and Qualification in the organization

METHODOLOGY:

In this we have used both of the primary and secondary data . In primary data we had conducted

Personal Interview with the Branch Manager of HDFC Bank, Rajouri Garden Branch regarding

SELECTION AND RECRUITMENT PROCESS OF HDFC BANK.

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INTRODUCTION

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.” They 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.

HDFC Ltd has the objective to enhance residential housing stock and promote home ownership.

Their offerings range from hassle-free home loans and deposit products, to property related services

and a training facility. They also offer specialized financial services to the customer base through

partnerships with some of the best financial institutions worldwide.

HDFC Bank is a young and dynamic bank, with a youthful and enthusiastic team determined to

accomplish the vision of becoming a world-class Indian bank.

Our business philosophy is based on four core values - Customer Focus, Operational Excellence,

Product Leadership and People. We believe that the ultimate identity and success of our bank will

reside in the exceptional quality of our people and their extraordinary efforts. For this reason, we

are committed to hiring, developing, motivating and retaining the best people in the industry.

HDFC Bank specializes in the provision of banking and other financial services to corporate and

institutional clients. The companys services include commercial, transactional and electronic

banking products. It also provides treasury services, retail banking and capital markets

infrastructure. The company primarily operates in India. HDFC Bank is headquartered in Mumbai,

India and employs about 14,900 people. The company recorded revenues of INR124,928 million

(approximately $3,131.9 million) during the fiscal year ended March 2008, an increase of 51.9%

over 2007. The net profit was INR15901.8 million (approximately $398.7 million) in fiscal year

2008, an increase of 39.3% over 2007.

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2007 2008 2009

16051977

3295ATMs (Nos.)

2007 2008 2009

29.1

38.243.9

CREDIT CARDS (Nos. in Lacs)

SnapshotCompany BackgroundIndustry Finance - Banks - Private Sector.Business Group HDFC GroupIncorporation Date 31/12/1994Public Issue Date 31/12/1995Face Value 10.0000

Company/Business Registration No INE040A01018Key Officials CEO Aditya puri

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HISTORY

HDFC Bank was incorporated in the year of 1994 by Housing Development Finance Corporation

Limited (HDFC), India's premier housing finance company. It was among the first companies to

receive an 'in principle' approval from the Reserve Bank of India (RBI) to set up a bank in the

private sector. The Bank commenced its operations as a Scheduled Commercial Bank in January

1995 with the help of RBI's liberalization policies.

In a milestone transaction in the Indian banking industry, Times Bank Limited (promoted by

Bennett, Coleman & Co. / Times Group) was merged with HDFC Bank Ltd., in 2000. This was the

first merger of two private banks in India. 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.

In 2008 HDFC Bank acquired Centurian bank of Punjab taking its total branches to more than

1,000. The amalgamated bank emerged with a strong deposit base of around Rs. 1,22,000 crore and

net advances of around Rs. 89,000 crore. The balance sheet size of the combined entity is over Rs.

1,63,000 crore. 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.

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.

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ABOUT THE BANK

HDFC Bank is a young and dynamic bank, with a youthful and enthusiastic team determined

to accomplish the vision of becoming a world-class Indian bank.

HDFC’s business philosophy is based on four core values - Customer Focus, Operational

Excellence, Product Leadership and People. They believe that the ultimate identity and

success of bank will reside in the exceptional quality of people and their extraordinary efforts.

For this reason, they are committed to hiring, developing, motivating and retaining the best

people in the industry.

Why HDFC is better …?

1. Investment returns: investment returns and business growth provided by HDFC is

validated by bajaj Capital report. HDFC pacify the need of invertors up to healthy level and

make the strong relationship with them.

2. Financial Background and Experience: HDFC existing in the market since 1977. It has a

very handsome experience in the field of finance because it completely involved in finance

Sector only where as the others are running in many other field also like Reliance

(Petroleum, Textile, Telecom etc.)

3. Ethics and Values: HDFC is an ethical and cultural organization which prevents the false

selling and prohibit the false commitment to the customer.

4. Sales Force: Properly trend licensed and Educated People are the strength of the company.

So that they could give the best customer service.

5. Huge branch network HDFC is having 450 branches in all over the country.

6. Online accessibility : It makes the process faster and make the customer delighted.

MISSION AND BUSINESS STRATEGY:-

Mission of HDFC is to be "a World Class Indian Bank", benchmarking themselves against

international standards and best practices in terms of product offerings, technology, service levels,

risk management and audit & compliance. The objective is to build sound customer franchises

across distinct businesses so as to be a preferred provider of banking services for target retail and

wholesale customer segments, and to achieve a healthy growth in profitability, consistent with the

Bank's risk appetite. They are committed to do this while ensuring the highest levels of ethical

standards, professional integrity, corporate governance and regulatory compliance.

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Business strategy of HDFC emphasizes the following:

Increase market share in India’s expanding banking and financial services industry by

following a disciplined growth strategy focusing on quality and not on quantity and

delivering high quality customer service.

Leverage technology platform and open scalable systems to deliver more products to more

customers and to control operating costs.

Maintain the current high standards for asset quality through disciplined credit risk

management.

Develop innovative products and services that attract targeted customers and address

inefficiencies in the Indian financial sector.

Continue to develop products and services that reduce cost of funds

Focus on high earnings growth with low volatility.

BOARD OF DIRECTORS

PERSON DESIGNATION

Mr. Jagdish Capoor Vice President

Mr. Aditya Puri Managing Director

Mr. Paresh Sukthankar Executive Director

Mr. Harish Engineer Executive Director

Mr. Keki M. Mistry Director

Mr. Ashim Samanta Director

Mr. Arvind Pande Director

Mrs. Renu Karnad Director

Mr. C M Vasudev Director

Mr. Gautam Divan Director

Dr. Pandit Palande Directo

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TOP MANAGEMENT

BUSINESS HEADSA Asokan Emerging Enterprise Group

Amit Kumar Retail Branch Banking-West 1

Anil Nath Business Banking - Working Capital & Retail Agri

Arup Rakshit Treasury

Ashima Khanna Bhat Emerging Corporate Group

Ashok Khanna Retail Assets – TW

Bhavesh Chandulal Wholesale Operations

Biju Pillai Retail Assets - EL,PL,LAS & GOLD

Birendra Sahu retail Operations

Deepak Maheshwari Credit and Market Risk

Gsv Surya Prasad Information Technology

Harpreet Singh NRI Business

Jimmy M Tata Corporate Banking

Munish Mittal Information Technology

Nandkishor Laxman Financial Institution Group

Nitin Subramanya Equities and Private Banking

Parag Rao Credit Cards

Rajender Sehgal Financial Institution Group

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Abhay Aima Equities & Private Banking and NRI Business

Anil Jaggia Information Technology and Legal

Ashish Parthasarth Treasury

Bharat Shah Merchant SeRvices

G Subramanian Audit & Compliance

Kaizad Maneck Credit & Market Risk

Mandeep Maitra H.R, Admin & Infrastructure

Navin Puri Branch Banking

Rohit Gaurav Marketing

Sanjay B Dongre Legal

Sanjeev Patel Direct Banking Channel

Tarini Vaidya Treasury

AWARDS

AWARDS:-

2010

Euromoney Private Banking and Wealth Management Poll 2010-

Best Local Bank in India (second year in a row)

Best Private Banking Service overall (moved up from no.2 last year)

Financial Insights Innovation Awards 2010-

Innovation in Branch Operations - Server Consolidation Project

Global Finance Award-

Best Trade Finance Provider in India for 2010

Banking Technology Awards 2009-

Best risk management initiative and

Best use of Business Intelligence.

SPJIMR Marketing Impact Awards (SMIA) 2010-

2nd Prize

Business Today Best Employer Survey-

Listed in top 10 best Employers in the country.

YEAR-2009

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EUROMONEY AWARDS 2009

'BEST BANK IN INDIA'

Economic Times Brand Equity & Nielsen Research annual survey 2009

Most Trusted Brand - Runner Up

Asia Money 2009 Awards

'Best Domestic Bank in India'

IBA Banking Technology Awards 2009

'Best IT Governance Award - Runner up'

Global Finance Award

'Best Trade Finance Bank in India for 2009

IDRBT Banking Technology Excellence Award 2008

'Best IT Governance and Value Delivery'

Asian Banker Excellence in Retail Financial Services

'Asian Banker Best Retail Bank in India Award 2009 '

YEAR-2008

FINANCE ASIA COUNTRY AWARDS FOR ACHIEVEMENT 2008

'BEST BANK AND BEST CASH MANAGEMENT BANK'

CNN-IBN 'Indian of the Year (Business)'Nasscom IT User Award 2008

'Best IT Adoption in the Banking Sector'

Business India 'Best Bank 2008'Forbes Asia Fab 50 companies in Asia PacificAsian Banker Excellence in Retail Financial Services

Best Retail Bank 2008

Asiamoney Best local Cash Management Bank Award voted by CorporatesMicrosoft & Indian Express Group

Security Strategist Award 2008

World Trade Center Award of honour

For outstanding contribution to international trade services.

Business Today One of India's "Most Innovative Companies"Financial Express-Ernst & Young Award

Best Bank Award in the Private Sector category

Global HR Excellence Awards - Asia Pacific

'Employer Brand of the Year 2007 -2008' Award - First Runner up, & many more

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HRM Business Today 'Best Bank' Award

YEAR-2007

DUN & BRADSTREET – AMERICAN EXPRESS CORPORATE BEST BANK AWARD 2007

'Corporate Best Bank' Award

The Bombay Stock Exchange and Nasscom Foundation's Business for Social Responsibility Awards

'Best Corporate Social Responsibility Practice' Award

NDTV Profit Best Bank Award in the Private sector category.The Asian Banker Excellence in Retail Financial Services

Best Retail Bank in India

Asian Banker Our Managing Director Aditya Puri wins the Leadership Achievement Award for India

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 PRODUCT OF HDFC BANK

ACCOUNT & DEPOSITS SERVICE

 Banking should be effortless. With HDFC Bank, the efforts are rewarding. No matter what a

customer's need and occupational status, we have a range of solutions that are second to none.

Whether you're employed in a company and need a simple Savings account or run your own

business and require a robust banking partner, HDFC Bank not only has the perfect solution for

you, but also can recommend products that can augment your planning for the future.

It includes these services: -

Saving accounts.

Current accounts.

Fix deposits.

Demate account.

Safe deposits lockers.

SAVINGS ACCOUNTS

These accounts are primarily meant to inculcate a sense of saving for the future, accumulating funds

over a period of time. Whatever person’s occupation, bank have confident that person will find the

perfect banking solution. There some saving accounts like: - 

Regular Saving Account:

 An easy-to-operate savings account that allows you to issue cheques, draw Demand Drafts and

withdraw cash. Check up on your balances from the comfort of your home or office through Net

Banking, Phone Banking and Mobile Banking. If you need money urgently then you can take

money from the ATM machine. There are 1977 ATM centers across the country.

SAVING PLUS ACCOUNT

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 Introducing the best banking option for you with HDFC Bank Savings plus Account. Now you can

get access to some of the finest banking facilities with HDFC Bank's Savings plus Account. All you

have to do is maintain an Average Quarterly Balance of Rs. 10,000/-.

SAVING MAX ACCOUNT

Welcome to a world of convenience. Presenting Savings Max account, loaded with maximum

benefits to make your banking experience a pleasure. By maintaining an average quarterly balance

of just Rs. 25,000/- you get a host of premium services from HDFC Bank absolutely free.

SENIOR CITIZEN ACCOUNT

HDFC Bank appreciates your needs and endeavors, which is why, they present an account

especially dedicated to customer, which like a dutiful child will help you fulfill your needs in the

best manner possible.

NO FRILLS ACCOUNT

 In an effort to make banking simpler and more accessible for customers, bank has introduced the

'No Frills' Savings Account, which offers customer all the basic banking facilities. Customer can

even avail of services like Net Banking, Mobile banking free of cost. In this customer can put Zero

Initial Pay-in and a Zero Balance account

INSTITUTIONAL SAVING ACCOUNTS

 A specially designed account that offers twin benefits of a savings as well as a current account.

Customer’s funds continue to earn you interest while he enjoys hassle-free banking & a host of

other features. All this and more in a Zero Balance account.

SALARY ACCOUNTS

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In this account customer can get salary from where he/she doing such job and organization or

company at where the customer of the bank in doing job deposit their salary in to the salary account

a person can get salary.

There are various kinds of saving accounts in the HDFC Bank like: -

Pay roll account.

Classic salary account.

Regular salary account.

Premium salary account.

Defense salary account.

No frills salary account.

Reimbursement salary account.

KID’S ADVANTAGE ACCOUNT

 Start saving for your child today and secure his/her future a sentence tells by the Hdfc bank. Open a

Savings Account and transfer money every month into customer’s Kids Advantage Account and

watch the savings grow as customer’s child grows. The accumulated savings in the Kids Advantage

Account can over the years help in meeting customer child's needs.

Main features and benefits of this account are as follow:-

CURRENT ACCOUNTS

HDFC Bank Current Account gives the power of inter-city banking with a single account and

access to more than cities. From special cheques that get treated at par with local ones in any city

where branch, faster collection of outstation cheques (payable at branch locations), free account to

account funds transfer between HDFC Bank accounts to Free inter-city clearing of up to 100 lakhs

per month, bank’s  priority services have become the benchmark for banking efficiency.

Now, with an HDFC Bank Current Account, experience the freedom of multi-city banking. Person

can have the power of multi-location access to his account from any of our 761 branches in 327

cities. Not only that, he can do most of his banking transactions from the comfort of his office or

home without stepping out.

There are various kinds of current account in this bank like: - 

Plus current account

 HDFC Bank plus Current Account gives the power of inter-city banking with a single account and

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access to more than cities. Plus Current Account requires maintaining an average quarterly balance

of Rs. 100,000.

TRADE CURRENT ACCOUNT

 In today's changing business requirements, you need to transfer funds across cities, and time is of

the essence. HDFC Bank Trade Current Account gives power of inter-city banking with a single

account.

 From special cheques that get treated at par with local ones in any city where bank have a branch,

to free account to account funds transfer between HDFC Bank accounts, to free inter-city clearing

of up to 50 lakhs per month, bank’s priority services have become the benchmark for banking

efficiency. Trade Current Account requires maintaining an average quarterly balance of Rs. 40,000.

 PREMIUM CURRENT ACCOUNT

 Business needs a partner who can manage finances while concentrate on growing business. Form

this account customer can avail benefits of inter-city banking account that requires an average

quarterly balance of only Rs. 25,000, offers Payable-At-Par cheque book facility & FREE inter-city

clearing transactions across our network up to Rs.25 Lacs per month.

 A Current Account with the benefits of accessing account from a large network of branches, and

through direct access channels - the phone, mobile, Internet and through the ATM.

REGULAR CURRENT ACCOUNT

A Current account is ideal for carrying out day-to-day business transactions. With the HDFC Bank

Regular Current Account, customer can access account anytime, anywhere, pay using payable at par

cheques or deposit cheque at any HDFC bank branch. It also facilitates FREE NEFT transactions &

FREE RTGS collections for faster collections in account. Regular Current Account requires to

maintain an average quarterly balance of only Rs. 10,000.

 With a vast network of branches in cities all over the country, and access to a multitude of ATM's,

customer can keep track of all transactions anytime. 

 REIMBURSEMENT CURRENT ACCOUNT

 No more paperwork, no more receipts to keep track of - a hassle-free account that allows deposit

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the reimbursements receive from company/organization on a monthly basis.

To open this account a person has to follow these processes:

Procure an Account Opening Document (AOD) from HDFC Bank. (If person has just joined, first

request to company to open up a Salary Account for particular person).

Mention Salary Account number and Debit Card number on the AOD so that Debit card can be

linked to both, Salary Account as well as new Reimbursement Account.

Request company to directly credit cash payments to the Reimbursement Account.

RFC – DOMESTIC ACCOUNT

 Full name of this account is Resident foreign currency account.

 Have you accumulated foreign currency from travelling abroad frequently? Received gifts from

relatives in foreign currency? Or earned it by any other means as approved by the Reserve Bank of

India?

If so, open Resident Foreign Currency Domestic Account and manage foreign currency efficiently.

Person can choose to set up your account either in US Dollar, Great Britain Pound or Euro.

To open this accounts a person as to follow this process: -

Choose the currency in which person wish to operate. Open account with an initial amount as per

the following-US Dollar = 250 Great Britain Pound = 200 Euro = 250 and maintain an Average

Quarterly Balance of the same amount.

FLEXI CURRENT ACCOUNT

Tired of static transaction limits during peak seasons? HDFC Bank Flexi Current Account is the

answer to changing banking needs during peak seasons.

With HDFC Bank Flexi Current Account Cash Deposit and Anywhere Transaction limits are a

multiple of the balance you maintain in Current Account. So, during peak seasons, customer get the

benefit of higher transaction limits due to the higher average balances maintained in account.

What’s more, during lean seasons, person need not worry about maintaining huge balances to enjoy

high transaction limits, which person anyway may not need. Flexi Current Account requires to

maintain a minimum Average Monthly Balance (AMB) of just Rs. 75,000. 

APEX CURRENT ACCOUNT

The top position is always the desirable position. With the Apex current account, take business to a

new high. On maintaining an average quarterly balance of Rs. 10 lakhs, this account makes sure

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person make the most of every business opportunities coming his way. Unlimited, free, anywhere

Banking experience at the APEX is reserved for person who joints this.

.

MAX CURRENT ACCOUNT

 Maximum benefits and minimum hassles for customer with Max Current Account with a Rs. 5

lakhs average quarterly balance requirement, bank present to world of privileges that helps business

expand and grow. Features like maximum free transaction limits including other beneficial features

on this current account truly enhances business potential to the Maximum. 

FIX DEPOSITS SERVICE

 Long-term investments form the chunk of everybody's future plans. An alternative to simply

applying for loans, fixed deposits allow to borrow from own funds for a limited period, thus

fulfilling needs as well as keeping savings secure.

People can invest his/her money into either in security market or gold or mutual fund or into a fix

deposits. People always go to that way where he/she can get more benefits and minimum risks. So,

for this purpose he has a better chance to deposits money in to the fix deposit.

If people believe in long-term investments and wish to earn higher interests on his/her savings, now

is the time to invest money in HDFC bank Fixed Deposit. Get up to 9.75% on HDFC Bank Fixed

Deposit with an additional 0.50% for Senior Citizens. What's more NO PENALTY if withdraw part

of the FD in times of need. Flexibility, Security and High Returns all bundled into one offering. 

REGULAR FIX DEPOSIT

As per the rules and regulation of the bank a person can deposit their money in to a fix deposit in

the bank and can get the benefits of these facilities.

.

 FIVE YEAR TAX SAVING FIX DEPOSIT

 In 2006, it was announced for the first time that Bank fixed deposits booked by an Individual/HUF

for 5 years & up to Rs. 1,00,000/- will be allowed exemption under Sec 80C of the Income Tax

Act,1961 subject to necessary declarations taken from the Customer.

SUPPER SAVER FACILITY

 Customer can enjoy a high rate of interest along with the liquidity of a Savings Account by opting

for a Super Saver Facility on his or her  savings account. Avail of an overdraft facility of up to 75%

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of the value of his or her Fixed Deposit. 

SWEEP-IN FACILITY

 Do you wish to avoid taking overdrafts, and still take advantage of your Fixed Deposits? Then

what you need is a Sweep-In Facility on savings account. Link Fixed Deposit to Savings or Current

Account and use it to fall back on in case of emergencies. A deficit in Savings or Current Account is

taken care of by using up an exact value from Fixed Deposit. Since deposits are broken down in

units of Re 1/-, customer will lose interest only for the actual amount that has been withdrawn.

.

DEMAT ACCOUNT SERVICE

Nowadays share market is becoming is the main occupation of the person. So to avoid faulty

processes demat account is really most important for the share market and for the safety of shares it

is most important. 

HDFC BANK is one of the leading Depository Participant (DP) in the country with over 8 Lac

demat accounts. 

HDFC Bank Demat services offers a secure and convenient way to keep track of securities and

investments, over a period of time, without the hassle of handling physical documents that get

mutilated or lost in transit.

HDFC BANK is Depository participant both with -National Securities Depositories Limited

(NSDL) and Central Depository Services Limited (CDSL). 

WHOLESALE BANKING SERVICES:-

The Bank's target market ranges from large, blue chip manufacturing companies in the Indian

corporate to small & mid-sized corporate 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 with vendor and

distributor finance for facilitating superior supply chain management for its corporate customers.

HDFC 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 recognized as a leading provider of cash management and transactional

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

RETAIL BANKING SERVICES:-

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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, Net Banking and Mobile Banking.

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 card business in late 2001. By March 2009, the bank had a total card base (debit and credit

cards) of over 13 million. The Bank is also one of the leading players in the “merchant acquiring”

business with over 70,000 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.

TREASURY:-

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

Local Currency Money Market & Debt Securities, and Equities. These services 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.

INTERNET BANKING SYSTEM SECURITY: -

LOGIN SECURITY: Access to customer's Net Banking account is granted using a Customer ID

and IPIN (internet banking password) that is privy to the customer. Without a valid IPIN

corresponding to the customer ID, access to customer account cannot be gained by anyone.

The customer's Net Banking service is revoked if not in use by customer for more than 180 days for

security.

IPIN SECURITY: IPIN is randomly generated by the system and directly printed on tamper proof

media such that it is not accessible by anyone other than the customer.

Customer is forced to change his IPIN such upon first login such that customer is assured that IPIN

is not compromised before delivery.

IPIN is stored by the Bank by use of encryption technology such that it is not accessible to anyone

including the system administrator.

SESSION SECURITY: Access to the customers are provided through a secure webpage that

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encrypts the session between the customer's computer and the webpage using 128-bit encryption so

that the communication between the customer's computers and the webpage cannot be intercepted

by anyone over the internet.HDFC Bank systems time out the customer's login sessions to his Net

Banking account upon prolonged inactivity for protection against misuse.

DIGITAL CERTIFICATE: The webpage of the HDFC Bank's internet banking server is identified

by means of a digital certificate provided by Verisign to ensure its customer that they are on the

correct site and protect themselves from revealing their confidential account information on some

fake website.

VIRTUAL KEYBOARD: Customer can use the feature of Virtual Keyboard while logging into his

Net Banking account. This protects the users IPIN from being compromised by key logger software

installed on untrusted/shared computers e.g. cyber cafes.

INSTA ALERT: The Bank has Insta Alert service to send SMS/ Email alert to the customer upon

registration for defined transaction denominations and while adding beneficiary/ies for carrying out

Third Party Transfer transactions.

SECURITY SOLUTIONS: All banking systems are secured using state-of-the-art security

solutions acknowledged world wide viz, firewalls, intrusion detection systems, intrusion prevention

systems, anti-malware systems to extend secure banking services to our customers.

SECURITY TEAMS: The Bank has robust processes, skilled people and competent service

providers who monitor the security of our systems round the clock.

FINANCIAL INSTITUTIONS & TRUSTS

Banks.

Financial Institutions.

Mutual Funds.

Stock Brokers.

Insurance Companies.

Commodity Businesses.

Trusts.

GOVERNMENT SECTOR

HDFC Bank acts as an active medium between the government and the customers by means of

various services. These services include:

Tax Collection wherein customers can directly pay their taxes like Direct taxes, Indirect

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taxes and Sales Tax collections at their local HDFC Bank.

E-Ticketing - Helps the customer by providing him a direct access to book a Railway Ticket

online and get it home delivered.

Opening of L/C's is done by the bank on behalf of Government of India, Mints and Presses,

thus facilitating imports for the Government.

Collection of levies and taxes on behalf of Municipal Corporations i.e. Kalyan -Dombivli

Municipal Corporation, is undertaken by the Bank.

Collection of stamp duty is done via franking mode in the state's of Maharashtra & Gujarat.

The Stamp Duty Franking Facility is available at following branches in Maharashtra Fort,

Chembur, Lower Parel, Mira Road, Thane (Talao Pali), Panvel, Ratnagiri, Pune(FC Road),

Kolhapur, Nagpur, Pimpri.

The Stamp Duty Franking Facility is available at following branches in Gujarat

Disbursement of Pension to retired Employees of Central Govt and Defence is directly done

by HDFC Bank along with the disbursement of pension to the members of EPFO

(Employees Provident Fund Organisation).

Electronic Collection of fees on behalf of DGFT is done by the bank too.

HUMAN RESOURCE DEPARTMENT

“Human Resource Management function that helps managers recruit, select, train and develop

members for an organization. Obviously, HRM is concerned with the people’s dimension in

organizations.

Work force of an Organization is one of the most important inputs of components. It is said that

people are our single most important assets. Because of the unique importance of HUMAN

RESOURCE and its complexity due to ever changing psychology, behavior and attitudes of men

and women at work, in all business concerns, there is one common element. I.e. Human personnel

function, i.e., manpower management function is becoming increasingly specialized. The personnel

function or system can be broadly defined as the management of people at work- management of

managers and management of workers. Personnel function is particularly interested in personnel

relationship and interaction of employees-human relations.

In a sense, management is personnel administration. Management is the development of people, and

not mere direction of material resources. Human capital is the greatest asset of a business

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enterprise. The essential ingredient of management is the leadership and direction of people. Each

manager of people has to be his own personnel man. Personnel management is not something you

really turn over to personnel department staff.

Responsibilities of Human Resource Department.

HRD maintain daily attendance record through branch manager via E-mail.

Take decisions for approval regarding leave notes.

He takes the decision related to the recruitment, selection and training of the candidates.

He talks to the consultant related to the recruitment of the qualified candidates. He also

does screening of the candidates, shortlist the candidate and takes the first round of the

interview.

He maintains the database of the candidates to come for an interview. He also maintains

personal file of each employee. He also completes the joining formalities of each new

employee.

They are taking surprising visit in every branch and collect information about

employees.

He is responsible for the monthly salary of the employees as per their attendants and

passing to the Branch Manager.

Human Resource planning

This is handled by doing the planning at the beginning of every year. At the end of the year, the

Human Resource department from each Branch receives the requirement for the person for whole

year. Then the planning of recruitment and training is done by training manager and recruiting

manager which is approved from Head of HR Department.

RECRUITMENT

Recruitment is a process of searching for prospective candidates for the given job in the industry. As

we know it is very important for an industrial concerns to have efficient and effective personnel

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with right quality and at right time and at right place available whenever they are needed. Every

organization needs employee time by time because of promotion or retirement of an employee. For

this purpose an organization need to search for the right candidate. And so it needs to encourage this

type of right candidates whenever they require.

Sources of Recruitment

Personal data of candidates and data bank maintain by the HR. department.

Campus Recruitment.

Company’s own website.

Placement consultants.

Advertisement in the news papers like Times of India, Gujarat

Samachar.

Employee reference.

Recruitment Process

Selection

Selection is the process of taking individuals out of the pool of job applicants with

requisite qualifications and competence to fill jobs in the organization. It is define as the

process of differentiating between applicants in order to identify and hire those with a

greater likelihood of success in a job.

Selection is based on probation base, they are taking experienced person for 6 month’s

probation and for fresher the probation period is 1 year.

While the selection of the senior level post, is taken by head office at Mumbai.

Training and Development

Training aims at increasing the aptitudes, skills and abilities of workers to perform

specific job. It makes employees more effective and skillful. In present dynamic world

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Applicamt pool

Profile Check

Shortlist Screening Interview

of business training is more important there is an ever present need for training men. So

that new and changed techniques may be adopted. A new and changed technique may be

taken as an advantages and improvement affected in the old methods.

Training is learning experience that seeks relatively permanent change in an individual

that will improve his/her ability to perform on the job.

They provide “on the job” training to their employees in the branch as they select these

employees for selling various products of bank by direct marketing. Whenever they

select new candidates for any post, they use to give them on the job work.

In case of sales persons to distribute their various products, in the beginning the person

has to work under the observation of his senior then the have to go in market to have

their own experience.

The time for training program for the candidate is depends up on the relevant position of

his work area. They also provide training related to customer care and communication.

RECRUITMENT AND SELECTION PROCESS

Meaning:

Recruitment and Selection system refers to sourcing and building efficient Human Resource to the

organization to attain its objectives.

Functions:1. • Retail assets • Credit cards • Retail assets • Retail credit2. • Retail liabilities • Direct banking • Direct sales liabilities • Foreign exchange services • Liabilities product group • Marketing • Retail branch banking3. • Support function • Custody and depository services • Finance • Human resources • Operations4. • Wholesale banking • Corporate banking • Credit and market risk

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• Customer service desk • Emerging corporate group • Emerging enterprise group • Equities and private banking • FIG • Health care finance • Investment banking • NRI businesses • Stock exchange and correspondent banking

This policy complies with, and supports, the Company’s Equal Opportunities Policy by:

Ensuring that every stage of the recruitment and selection process is carried out in a

systematic way, based on pre-agreed criteria, to eliminate the potential for personal bias

affecting the decision making process.

Ensuring that all decision points are fully documented to assist with subsequent monitoring.

Making the whole procedure as open as possible, to ensure that all candidates understand

why decisions have been taken and, where they wish, to obtain meaningful feedback.

Enabling demonstration of robust, transparent processes and thereby providing a basis for

defense in the event of challenge.

There are seven main stages to the procedure:

Pre-advertisement

Placing advertisements and dealing with enquiries and applicants

Short-listing

Interviewing and selection

Post-selection procedures

Induction

Monitoring

Analyzing Your Workplace:

To assist you analyze your workplace to identify recruitment or selection issues for women, we

suggest you:

Revisit your workforce profile to find where your female employees are.

Consult with your employees.

Examine your existing recruitment and selection policies and practices.

Developing Policy and Procedures

Put in place a policy requiring recruitment and selection processes to select the best person

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for the job.

Develop a quality, consistent process for recruitment that delivers diverse recruits.

Have a recruitment strategy that links to your business plan, and to a strategy to retain

employees.

Reviewing Recruitment and Selection Opportunities

Monitor each stage of the recruitment process to identify any practice that may disadvantage

some candidates.

Investigate whether women have equal opportunity in the recruitment and selection process

by collecting information on the numbers of men and women:

Applying for positions

Being short-listed

Being interviewed

Being appointed, and

Survey staff about their perception of equity in recruitment procedures.

Consider collecting diversity information as part of the process. There could be a pool of

diverse candidates you’re not reaching or unnecessarily excluding.

Reviewing Job Descriptions:

Ensure all job profiles/descriptions reflect the real requirements of the job, rather than

describing the person who filled that job previously.

Write job profiles in language that encourages both men and women to apply – including

women of and Differing backgrounds. For example, avoid use of jargon and acronyms that

tend to be exclusive.

Recruiting and selecting the right people is paramount to the success of the HDFC BANK LTD. and

its ability to retain a workforce of the highest quality. This recruitment and selection policy sets out

the procedure to ensure that the best people are recruited on merit and that are the recruitment

process is free from bias and discrimination.

PRINCIPLES:

Following are the guiding principles for recruitment and on-boarding process.

• Attracting and recruiting the right people is one of the most important activities of the organization

and is the responsibility to be owned by each and every employee of the organization.

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• Merit will be the single most important factor in selection process.

• They will ensure a diversity, both gender and ethnicity by targeted candidate sourcing with the

help of recruitment vendors and the referral program.

• While skills and profile matching play an important role, they will hire people who are team

players and have the right attitude most relevant to the culture of the organization. Attitude is as

important as aptitude.

• They believe in becoming a company of giants and emphasis is in hiring people who can grow

bigger and better than they presently are.

• They believe in providing their employee with fulfilling career paths. Towards this, they will post

vacancies internally as a preferred option while evaluating external candidates.

• They believe that each candidate interviewed irrespective of whether she/he is selected should

become a friend of the organization. They treat all the candidates with the utmost respect. They

will be open and fair in communication with them; this way they also enhance the brand image of

the organization.

• They will continuously assess, identify and cultivate strategic talent pools including those at the

universities, management schools, and community forums to address their long term needs.

HIRING APPROVAL

• All recruitment activities shall be undertaken based on the hiring plan as approved by the Business

Head, HR Head & the CEO. For each approved position, a hiring requisition will be required prior

to initiation of any recruitment activity. If the hiring was not included in the planned budget, it will

also require approval from the CEO based on a recommendation from the Head HR and the CFO.

• Recruitment expense will be allocated to the concerned business unit, and expenditure should be

budgeted and pre-approved by the business unit head and the HR Head.

CANDIDATE SOURCING:

The hiring manager along with the Human Resource Department would decide the channel / source

to use based on the nature of the recruitment. The following sources of recruitment may be

considered:

• Internal Sources:

- Whenever any vacancy arises, the possibility of fulfilling the requirement internally via

reassignment and relocation, re-allocation of the responsibilities or internal promotion will be

explored by the hiring function along with the HR Department.

- Internal job postings to explore internal candidates.

• Employee Referrals – HDFC will encourage employees to refer suitable candidates for open

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positions.

• Other external sources include:

- Recruitment agencies

- External job postings

- College / campus requirement

Requirement advertisements

APPLICATION PROCESSING:

HDFC will process all applications promptly and inform the applicant or source regarding the status

of the application. HDFC will respond to all solicited applications within 5 working days of

receiving the application.

INTERVIEW PROCESS:

• All candidates are required to undergo a face to face interview with the interview panel before

selection.

• Interviews may be conducted at a place at mutually convenient locations and time in an effort to

maintain confidentiality of the hiring effort.

• One on one meeting shall be preferred as the interview format, however depending on the

constraints panel interviews / telephone / video conference screening could be used.

• For recruitment at junior levels, job fairs, universities etc, where large volume of candidates,

HDFC will use recruitment tests for purpose of short listing. The candidate may be tested on the

basic aptitude, analytical skills or other skills required for the job of the candidates.

• The interview process will focus on the evaluating the candidates suitability in terms of the job

description and fit within the organization.

• Each interviewer will complete the interview feedback form and submit it to HR. HR will compile

the results from a various interviews and provide these to the line manager for the final decision.

The following are the guidelines wit respect to the interview levels. The line manager will own the

overall interview process:

Position, Level Equipment Hiring Decision by Interview by Salary Fitment Offer Letter Signed by Direct Report CEO Head CEO/ HR Head, Management Team (for relevant functions) Approval

- CEO Proposal – HR Head CEO State Head/ Regional Function Heads, Cluster Heads Regional Branch Heads, National

functional Heads Regional Branch Head / National Functional Head, Regional HR Approval – CEO

Proposal – HR Head HR Head Branch Manager / National Functional Managers Regional Branch Heads, National functional

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Heads Regional Branch Head / National Functional Head, Regional HR, Cluster / State Head Approval – HR Head

Proposal – C & B Manager HR Head Senior Relationship Manager Regional Branch Head/ Branch Manager Regional Branch Head/

Branch Manager, Regional HR Approval – HR Head Proposal – C & B Manager Staffing Leader Junior Relationship Manager Branch Manager Branch Manager, Cluster Head Approval – C&B

Manager Proposal – Regional HR Mgr. Regional HR Manager

For campus / bulk hiring process, each panel will be specifically authorized with respect to hiring decision, pay by the HR Head & CEO prior to the process.

RECRUITMENT EXPENSES:

• All recruitment expenses including recruitment fees, advertisement expenses and interview related

expenses will be allocated to the concerned business unit.

• The candidate will be informed about the nature of the expenses that are reimbursable and the

supporting documents required (in original). HR will ensure that candidate fills the necessary

reimbursement forms and that he/she receives the reimbursement at the earliest.

• Outstation/International Candidates - HDFC will pay for appropriate air fare and expenses

incurred for the stay for candidates who they decide to fly from other locations. Prior approval from

the Regional HR Leader / HR Head is required to invite candidates. For candidates from

International Locations, prior approval from the HR Head needs to be taken.

PRE-EMPLOYEMENT CHECK:

This will include both a professional reference check as well as the background check.

• Professional reference check will be completed by the hiring manager. HDFC will request contact

information for 2 references from the candidate, and check the quality of previous work experience

and key personal characteristics/conduct/ previous record etc.

• For key positions in areas, HDFC will also perform a background check to assess the integrity

conduct of the candidate.

• The following information regarding the candidate will be verified:

Proof of educational qualifications

Any professional certificate that is essential to the job

Address details

Passport details

Date of birth

Proof of previous employment (service certificate)

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Any negative feedback and comment in the reference check will be investigated by HR and if found

genuine shall be a cause for disqualification of the candidate or dismissal from employment.

OFFER PROCESS:• Once the hiring decision is finalized, HR will prepare an offer / fitment as per the compensation

structure and grade and keeping in mind the internal equity.

• The offer would be communicated to the selected candidates by the hiring manager along with

HR. The candidate will sign the contract letter to formally accept employment from the

organization.

PRE-EMPLOYMENT PROCESS:

As an organization, HDFC will make all necessary arrangements to ensure a smooth joining process

for the employees. HR will provide the candidate a check list prior to joining to ease joining

formalities.

RELOCATION FOR EMPLOYMENT:

Where the employee has to relocate and has been pre-approved by the HR Head and the staffing

leader, the relocating candidate shall be eligible for the following relocation assistance:

The joining employ has the option to avail temporary accommodation (which includes

laundry) for the first two weeks arranged by organization. The stay in company provided

accommodation can be extended by two weeks further based on specific approval from the

Head HR. Where the stay extends beyond 4 weeks, the respective will not be paid housing

allowance foe the corresponding period.

Local travel assistance up to positions of RO/RM/equivalent and below will be reimbursed

for one week and for SRM/equivalent and above will be reimbursed up to two weeks.

Food expenses during the period will be reimbursed as per actual up to Rs 500/-per day per

person.

Approved reasonable expenses incurred in transporting the personal goods including the

transportation /registration of one automobile to the city of work. Employees are advised to

use the designated moving agencies as per rates negotiated by Administration. Where

negotiated rates are not available, the employee is required to submit 3 quotations and

secure approval from Administration before assigning the contract to a moving firm.

EMPLOYEMENT OF RELATIVES:

The organization employs, purely on merit, the relatives of our employees as long as it does not

create a potential conflict of interest. To avoid a potential conflict of interest and to reduce the

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possibilities of favoritism – the following guidelines must be followed:

Relatives are not assigned to a position where he/she has the opportunity to check, process,

and review, approve, audit or otherwise affect the work of the persons cited and above.

NO one is assigned to a position where she/he influences the professional progress or

promotion of the persons cited above.

If one is aware of a situation that appears to be an opportunity for people to display

favoritism to relatives, one should contact the Department Head or Human Resources

Department.

Employees will not be part of the hiring process of their relatives

DEFINITION OF RELATIVES:

Relatives would include husband, wife, children, parents, sisters, brothers, first cousins, brothers-in-

law, sisters-in-law, mother –in-law, and father-in-law.

Employees who are aware of candidature of their relatives for the organization must immediately

report to the HR function in writing for information and records. Failure to immediately report such

cases will be considered as a serious violation of the recruitment policy and may entail a

disciplinary action.

INTERNSHIP PROGRAM:

As part of university hire program, HDFC will provide internship opportunities to students. Such

internships will provide opportunities to students to learn while making real contributions to the

company. HDFC will follow the following process:

• HR will coordinate with business groups to identify potential opportunities for intern hires.

• Internship requests could be received either from the students directly or as nominations from

the educational institute.

• HR and hiring manager to tele-interview the candidates with subsequent personal interviews

in the office

• HR to coordinate with the hiring manager to develop the project plan for the hire

Based on the demonstrated capability, the intern will be provided with the opportunity to work

in multiple departments to gain a wider business understanding

INTERNSHIP CRITERIA:

Typically, the intern will be a pre-final year student of the Bachelor or Master degree

programs specializing in Financial Services/IT and any other business stream as required.

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Interns will be expected to manage their won accommodation and it will not be provided by

the company.

Intern will be required to sign the confidentiality and code of conducts documents of the

company.

EMPLOYEE ON-BOARDING – PROCESS:

The overall purpose of the new hire integration process is to ensure that the new employee is able

settle in smoothly and is able to contributing at the earliest.

PRE EMPLOYMENT INDUCTION:

HDFC’s employee induction process shall begin as per the employee accepts the job offer. The

process includes:

Welcome pack: As soon as the candidate accepts the offer, a welcome pack will be sent to

the employee.

o A congratulatory note regarding the decision to join the organization.

o Contact details of a HR representative and the hiring manager.

o A brief company overview document.

Pre-joining checklist: Include details of the documents required from the employee. In case

the employee is relocating from a different location, details of the relocation process and the

visa requirement will be outlined in this checklist.

Expectations on the first day of the joining.

Office resources: HR shall intimate the immediate supervisor the joining date and

immediate supervisor shall work with the IT and administration team to set up the following

5 days prior to employee joining, the following elements and are in working order: Email

ID, phone, computing resources, work space/office, access cards, joining kit including bank

account opening form, initial reading material.

POST JOINING ORIENTATION AND INDUCTION:

Joining kit: The employee upon joining would be welcomed by the HR representative and

would be given a joining kit that will include: Access card, information on employee’s email

and phone number, Bank account opening form, corporate insurance application form(if

applicable),HR & Admin policy manual, other relevant reading material ( to be prepared by

hiring manager)

Classroom Induction: The employee integration process will also include classroom

training and induction where the employee will receive presentations and trainings on

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various topics that would further ingrain the into the organization

On the job training: Besides formal training sessions, the employee will undergo on-the-

job function specific trainings that are facilitated by the respective functions to help the new

employee acquaint himself/herself with work in progress.

PROBATION POLICY:

Probation is a trial that is mutual opportunity for the employee and HDFC to confirm

suitability for continued employment. The probation period is to establish a stronger

understanding of mutual capabilities, expectations and understanding which may include

functional training. The employee must demonstrate suitability for continued employment.

An assessment will be based on factors related to work performance, work habits,

productivity, attitude and compatibility, attendance and punctuality, and any other matter

that is linked to job performance and expectations.

All new hires will be placed on probation for a period of 6 months from the date of joining

HR will initiate the confirmation process by sending an appraisal form to the immediate

supervisor before the completion of probationary period. The appraisal form will need to be

approved by the supervisor’s leadership.

All letters of confirmation or extension of probation will be signed by the HR head and will

be stored in employee file for records.

REFERRAL BONUS AMOUNT :

• The Referral Bonus Program is operated under the authority of the Budget and Control Board’s

Employee Bonus Guidelines. Under these guidelines, an employee may receive multiple bonuses,

the total of which may not exceed $2,000 in any fiscal year.

• Referral bonus payments may be paid in a lump sum or in periodic payments until the new

employee has completed his or her probationary period. Payments cannot be made until the referred

candidate has been employed for a minimum of one month. For example, a $1,000 referral bonus

can be structured as follows:

- $250 referral bonus awarded after three months from the hire date,

- $250 referral bonus awarded after six months from the hire date,

- $500 referral bonus awarded at the end of the probationary period.

REFERRAL BONUS PROGRAM ADMINISTRATION :

The Referral Program operates in accordance with the following program requirements:

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• Referral bonuses are awarded at the discretion of management with the Agency Director or his

designee having final approval authority.

• Funding for the program must come from existing agency resources.

• The Agency will provide a form for completion and submission by either the applicant or the

referring employee with the applicant’s application indicating that the referring employee has made

the referral.

• The Agency will designate a position as “hard-to-fill” before the position is posted.

• Employees selected for eligible positions must be employed by the agency for at least one month

before a referring employee may be eligible to receive a referral bonus.

Referred candidates cannot be current employees of the hiring agency in any capacity, to include

temporary, temporary grant, research grant, time- limited project, or contract employees. Both the

referring employee and the referred candidate must be employed by the agency when any referral

bonus is paid receive the referral bonus.

• Any disputes arising from the application of this program will be the responsibility of the Agency

Director or his designee to resolve and will not be considered a grievance under the State Employee

Grievance Procedure Act.

• The agency HR Office will monitor the use of the Referral Bonus Program and will report

annually to the Office of Human Resources information on the use of the Referral Bonus Program.

• The hiring process will be fair and consistent with agency policy and procedures, with no bias for

or against candidates whose selection might make another employee eligible for a referral bonus.

Amount paid to the employees who refer the candidates and if they get selected varies from Rs.

7000 to Rs.2000 based on the grade of the employee refereed and the refereed candidate placed.

This amount is paid to the employees in two ways:

1. Immediately when the candidate is joined

2. After the completion of 3 months of the candidate selected.

Only middle level and senior level management employees have the opportunity of referring the

candidates. This policy/scheme is not applicable to the top management employees. Also the

employees who are under probation or training period are not eligible for this employee referral

policy.

FINDINGS

Recruitment at an officer and managerial level is not done effectively.

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Many people in the organization today are in the wrong jobs and as a result, they are not

utilizing their full potential.

Hiring people based on personal connections when the person is not qualified for the job.

Most recruitment that involves managers is done during discussions at lunch hour, at social

clubs or during the coffee break time.

Inadequate recruitment procedures resulted in a number of staff not being sufficiently

qualified either for the positions they hold or their grades levels, especially in management

positions.

Psychometric test is not conducted during the selection process.

Confusion in the designation and level to the employees even after permanent status for

employment is given.

Proper training is not given to the recruitment team and manager.

Reaching few prospects due to internal recruitment, internet advertising most of the time.

RECOMMENDATIONS

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The organization should provide or set up a communication lab for the benefit of the fresher

and existing employees that makes a career development and new opportunity to grow up in

the organization.

This increases the employee morale and helps to attain the target.

Communication classes should be conducted timely to all employees should be followed by

organization.

Refresher courses may organize intermittently for all employees in the rank and file category

to relive job fatigue and monotony of every day work life. So employees can gain skills by

Communication.

Candidates who enter into the Job Market must make sure that their efficiency in

Communication is up to the expectation of an organization which will make them to go

through the Recruitment and Selection system of Royal Sundaram Alliance Insurance

Company.

The respondents in the corporate exhibits that communication skills are necessary for all the

employees from different channels.

FOS (Fleet on street) Team should be made involved to pass through more communication

classes from language experts.

The company should allot funds to create a communication laboratory for the beneficiary of

all the employees.

SUGGESTIONS

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1. Psychometric tests have to be conducted to assessing the personality of the applicants – will

they fit in?

2. Look for different skills as well as the ideas of the candidate at the time of recruitment and

selection process.

3. Adopting adequate recruitment procedures to employ efficient and talented people.

4. Job responsibilities have to be clearly explained to the candidate before the joining formality

is done.

5. Campus recruitments, job fairs may attract more skilled and talented employees towards the

organization.

6. Provide orientation training to all new employees before their initial work assignments and

to all current employees who receive a different task or job.

7. Referral scheme has to be encouraged more at times when the requirement is urgent.

CONCLUSION

Recruitment is essential to effective Human Resources Management. It is the heart of the

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whole HR systems in the organization. The effectiveness of many other HR activities, such

as selection and training depends largely on the quality of new employees attracted through

the recruitment the recruitment process.

Policies should always be reviewed as these are affected by the changing environment.

Management should get specific training on the process of recruitment to increase their

awareness on the dangers of wrong placements.

Effective recruitment is important in achieving high organizational performance and

minimizing labor turnover. As of now HDFC Bank Ltd. has a team of effective human

resource which is efficiently managing the organization at its best. Though the recruitment

process adopted by the organization needs to be improved, challenges are ahead for the HR

Department to recruit people after the effect of recession.

In the present competitive & dynamic environment, it has become essential for organization

to build and sustainable.

In competitive advantage, the Communication skill set has assumed more importance than

even before. Dynamic and growth-oriented organization recognizes Communication as an

important aspect of the Recruitment and Selection system for managerial function in a

rapidly changing and economic environment.

Insurance industries should possess a valuable work force with good communication skill

sets to get a good deal or business from their customers. In this sector the Open Market

channel is the main source of revenue for the company for which they should be able to

communicate well with their clients. Then the company can reach its profitability and

objectives easily.

The company should take the suggestions and ideas from the employees and can conduct

and examine the communication skill set within the employees. So that they can analyze the

need and act accordingly for a better result and the growth of its own and valuable

workforce.

REFRENCES

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BOOKS REFFERED:

ASWATHAPPA, K. (2009), Human Resource Management

DESSLER, GARY (2008), Human Resource Management

ROBBINS, STEPHEN P.,(2008) “Organizational Behaviour” of Prentice Hall

of India (New Delhi)

CHHABRA , T. N.,(2008), Human Resource Management

WEBSITES REFFERED:

http://en.wikipedia.org/wiki/HDFC_Bank

http://business.mapsofindia.com/banks/hdfc-bank-branches/

http://business.mapsofindia.com/banks-in-india/hdfc.html/

http://www.slideshare.net/vin4a/recruitment-and-selection-at-hdfc

REPORTS/ARTICLES REFFERED:

Annual report of HDFC BANK 2009

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