“The New Customer Satisfaction Mantra -CRM for Key Customers with Special Reference to
Kotak Mahindra Bank Ltd.”
A report Submitted in partial fulfillment for the Reuirement of the award of Internship
FACULTY GUIDEPROF.FAROOQUI PRESENTED BY UMANG MEHRA
BBA 2ND SEMESTERAMITY GLOBAL BUSINESS SCHOOL
PATNA
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Title: - The New Customer Satisfaction Mantra- “CRM for key Customers” Key customers or High net worth individuals are the most important customers of the bank, because they provide almost 80% of the revenue to the bank. This project is all about the key customers. It includes their needs, their perception towards the bank. It evaluates their satisfaction level and it suggests the bank to do the same things differently to increase the customer satisfaction level. It will help the bank to perform better in terms of revenue generation. This step was also taken by Kotak Mahindra Bank
Location:-Patna is also one of the oldest continuously inhabited places in the world . In June 2009, the World Bank ranked Patna in second place in India, after Delhi, in terms of the ease of starting a business. It lies between North Latitude 25° 37' and East longitude 85° 12'. The modern city of Patna is situated on the southern bank of the Ganga. The city also straddles the
rivers Sone, Gandak and Punpun. The city is approximately 35 km long and 16 km to 18 km wide. Patna has long been a major agricultural center of trade, its most active exports being grain, sugarcane, sesame, and medium-grained Patna rice. It is also an important business center of eastern India.
As of 2011, the economy of Patna has seen sustained economic growth. In particular, the economy has been spurred by growth in the Fast Moving Consumer Goods industry, the service sector, along with Green revolution businesses.
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MAP OF PATNA
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ACKNOWLEDGEMENT
This has been my first experience in the corporate world and has been a truly learning experience for me. The project assigned to me had a great learning potential and tremendous scope of application. There have been many people who have supported me throughout the project and I take this opportunity to thank them for their time and effort.
I would begin by thanking MR. AMIT K SINHA Sales Manager for having the confidence in me and giving me the opportunity to undergo my summer training in this prestigious company
I am grateful to Prof. FAROOQUI, my faculty guide, without his support and guidance; my project would not have been possible. I want to thank his profusely for his support and encouragement he gave for this project.
I would like to thank my BROTHER RAUNAK MEHRA and HARSH MEHRA for making every effort to ensure that my project was truly a learning experience for me and without whose support the project could not be completed.
I world even like to thanks my seniors to coordinate in my project and try to make it the best one and this is not the last at the end I would also like to thanks few of special persons who have given their special advice in making this project a wonderful once.
DECLARATION
I hereby declare that the project report entitled “The New Customer Satisfaction Mantra- “CRM for Key Customers” is written and submitted by me under the guidance of MR. AMIT K SINHA Sales Manager KOTAK MAHINDRA BANK, PATNA is my original work. The findings and interpretations in the report are based on the data collected by me during the survey. This project is not copied from any source or other project submitted for similar purpose.
UMANG MEHRA
BBA 2ND SEMESTERAMITY GLOBAL BUSINESS SCHOOL
PATNA
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Contents
chapter TOPIC PAGE NUMBER
CH-1 Banking System in India
6-11
CH-2 Kotak Mahindra Bank 12-33CH-3 Customer Relationship
Management in Indian Retail Banking
34-51
CH-4 Current Account 52-70
CH-5 Savings Account 71-83
CH-6 Different Current
Accounts
84-84
Ch-7 Different Savings
Account
85-85
Ch-8 Procedure Adopted for
Opening the Account
86-86
Ch -9 Case Study 87-93
Ch -10 Swat Analysis 94-96Ch-11 Research
Methodology97-99
Ch-12 Conclusion 100-102Ch-13 Suggestions &
Recommandations
103-105
Ch-14 ANNEXURE 106-113
Ch-15 Bibliography 114-115
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Banking System in India
What is a Bank?
The essential function of a bank is to provide services related to the storing of deposits and the extending of credit. The evolution of banking dates back to the earliest writing, and continues in the present where a bank is a financial institution that provides banking and other financial services.
History of Banking in India
Without a sound and effective banking system in India it cannot have a healthy economy. The banking system of India should not only be hassle free but it should be able to meet new challenges posed by the technology and any other external and internal factors.
For the past three decades India's banking system has several outstanding achievements to its credit. The most striking is its extensive reach. It is no longer confined to only metropolitans or cosmopolitans in India. In fact, Indian banking system has reached even to the remote corners of the country. This is one of the main reason of India's growth process.
The government's regular policy for Indian bank since 1969 has paid rich dividends with the nationalization of 14 major private banks of India.
Not long ago, an account holder had to wait for hours at the bank counters for getting a draft or for withdrawing his own money. Today, he has a choice. Gone are days when the most efficient bank transferred money from one branch to other in two days. Now it is simple as instant messaging or dial a pizza. Money have become the order of the day.
The first bank in India, though conservative, was established in 1786. From 1786 till today, the journey of Indian Banking System can be segregated into three distinct phases. They are as mentioned below:Early phase from 1786 to 1969 of Indian Banks Nationalization of Indian Banks and up to 1991 prior to Indian banking sector Reforms. New phase of Indian Banking System with the advent of Indian Financial & Banking Sector Reforms after 1991. To make this write-up more explanatory, I prefix the scenario as Phase I, Phase II and Phase III.
Phase I
The General Bank of India was set up in the year 1786. Next came Bank of Hindustan and Bengal Bank. The East India Company established Bank of Bengal (1809), Bank of Bombay (1840) and Bank of Madras (1843) as independent units and called it Presidency Banks. These three banks were amalgamated in 1920 and Imperial Bank of India was established which started as private shareholders banks, mostly Europeans shareholders.
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In 1865 Allahabad Bank was established and first time exclusively by Indians, Punjab National Bank Ltd. was set up in 1894 with headquarters at Lahore. Between 1906 and 1913, Bank of India, Central Bank of India, Bank of Baroda, Canara Bank, Indian Bank, and Bank of Mysore were set up. Reserve Bank of India came in 1935.
During the first phase the growth was very slow and banks also experienced periodic failures between 1913 and 1948. There were approximately 1100 banks, mostly small. To streamline the functioning and activities of commercial banks, the Government of India came up with The Banking Companies Act, 1949 which was later changed to Banking Regulation Act 1949 as per amending Act of 1965 (Act No. 23 of 1965). Reserve Bank of India was vested with extensive powers for the supervision of banking in india as the Central Banking Authority.
During those days public has lesser confidence in the banks. As an aftermath deposit mobilization was slow. Abreast of it the savings bank facility provided by the Postal department was comparatively safer. Moreover, funds were largely given to traders.
Phase II
Government took major steps in this Indian Banking Sector Reform after independence. In 1955, it nationalised Imperial Bank of India with extensive banking facilities on a large scale specially in rural and semi-urban areas. It After India's independence in 1947, the Reserve Bank was nationalized and given broader powers formed State Bank of India to act as the principal agent of RBI and to handle banking transactions of the Union and state governments all over the country.
Seven banks forming subsidiary of State Bank of India was nationalized in 1960 on 19th July, 1969, major process of nationalization was carried out. It was the effort of the then Prime Minister of India, Mrs. Indira Gandhi. 14 major commercial banks in the country were nationalized.
Second phase of nationalization Indian Banking Sector Reform was carried out in 1980 with seven more banks. This step brought 80% of the banking segment in India under Government ownership.
The following are the steps taken by the Government of India to Regulate Banking Institutions in the Country:1949 : Enactment of Banking Regulation Act. 1955 : Nationalisation of State Bank of India. 1959 : Nationalisation of SBI subsidiaries. 1961 : Insurance cover extended to deposits. 1969 : Nationalisation of 14 major banks. 1971 : Creation of credit guarantee corporation. 1975 : Creation of regional rural banks. 1980 : Nationalisation of seven banks with deposits over 200 crore. After the nationalisation of banks, the branches of the public sector bank India rose to approximately 800% in deposits and advances took a huge jump by 11,000%.
Banking in the sunshine of Government ownership gave the public implicit faith and
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immense confidence about the sustainability of these institutions.
Phase III
This phase has introduced many more products and facilities in the banking sector in its reforms measure. In 1991, under the chairmanship of M Narasimham, a committee was set up by his name which worked for the liberalisation of banking practices.
The country is flooded with foreign banks and their ATM stations. Efforts are being put to give a satisfactory service to customers. Phone banking and net banking is introduced. The entire system became more convenient and swift. Time is given more importance than money.
The financial system of India has shown a great deal of resilience. It is sheltered from any crisis triggered by any external macroeconomics shock as other East Asian Countries suffered. This is all due to a flexible exchange rate regime, the foreign reserves are high, the capital account is not yet fully convertible, and banks and their customers have limited foreign exchange exposure.
Nationalisation
The next significant milestone in Indian Banking happened in the late 1960s when the then Indira Gandhi government nationalizd, on 19th July, 1969, 14 major commercial Indian banks, followed by nationalization of 6 more commercial Indian banks in 1980. The stated reason for the nationalisation was more control of credit delivery. After this, until the 1990s, the nationalised banks grew at a leisurely pace of around 4%-also called as the Hindu growth of the Indian economy.After the amalgamation of New Bank of India with Punjab National Bank, currently there are 19 nationalised banks in India:
-Allahabad Bank -Andhra Bank -Bank of Baroda -Bank of India -Bank of Maharashtra -Canara Bank -Central Bank of India -Corporation Bank -Dena Bank -Indian Bank -Indian Overseas Bank -Oriental Bank of Commerce -Punjab & Sind Bank -Punjab National Bank -Syndicate Bank -Union Bank of India
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Liberalization
In the early 1990s the then Narasimha Rao government embarked on a policy of liberalisation and gave licences to a small number of private banks, which came to be known as New Generation tech-savvy banks, which included banks like ICICI Bank and HDFC Bank. This move along with the rapid growth in the economy of India, kickstarted the banking sector in India, which has seen rapid growth with strong contribution from all the three sectors of banks, namely, government banks, private banks and foreign banks. However there had been a few hiccups for these new banks with many either being taken over like Global Trust Bank while others like Centurion Bank have found the going tough.The next stage for the Indian banking has been setup with the proposed relaxation in the norms for Foreign Direct Investment, where all Foreign Investors in banks may be given voting rights which could exceed the present cap of 10%.
Current scenario
Currently (2005), overall, banking in India is considered as fairly mature in terms of supply, product range and reach-even though reach in rural India still remains a challenge for the private sector and foreign banks. Even in terms of quality of assets and capital adequacy, Indian banks are considered to have clean, strong and transparent balance sheets-as compared to other banks in comparable economies in its region. The Reserve Bank of India is an autonomous body, with minimal pressure from the government. The stated policy of the Bank on the Indian Rupee is to manage volatility-without any stated exchange rate-and this has mostly been true.With the growth in the Indian economy expected to be strong for quite some time-especially in its services sector, the demand for banking services-especially retail banking, mortgages and investment services are expected to be strong. M&As, takeovers, asset sales and much more action (as it is unravelling in China) will happen on this front in India.Recently (March 2006), the Reserve Bank of India allowed Warburg Pincus to increase its stake in Kotak Mahindra Bank (a private sector bank) to 10%. This is the first time an investor has been allowed to hold more than 5% in a private sector bank since the RBI announced norms in 2005 that any stake exceeding 5% in the private sector banks would need to be vetted by them.Currently, India has 88 scheduled commercial banks (SCBs) - 28 public sector banks (that is with the Government of India holding a stake), 29 private banks (these do not have government stake; they may be publicly listed and traded on stock exchanges) and 31 foreign banks. They have a combined network of over 53,000 branches and 17,000 ATMs. According to a report by ICRA Limited, a rating agency, the public sector banks hold over 75 percent of total assets of the banking industry, with the private and foreign banks holding 18.2% and 6.5% respectively.
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SBI group
State Bank of India, with its seven associate banks command the largest banking resources in India. SBI and its associate banks are:-State Bank of India -State Bank of Bikaner & Jaipur -State Bank of Hyderabad -State Bank of Indore -State Bank of Mysore -State Bank of Patiala -State Bank of Saurashtra -State Bank of Travancore
The Bank of Bengal, which later became the State Bank of India.
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Private Sector Banks In India
Private banking in India was practiced since the begining of banking system in India. The first private bank in India to be set up in Private Sector Banks in India was IndusInd Bank. It is one of the fastest growing Bank Private Sector Banks in India. IDBI ranks the tength largest development bank in the world as Private Banks in India and has promoted a world class institutions in India.
The first Private Bank in India to receive an in principle approval from the Reserve Bank of India was Housing Development Finance Corporation Limited, to set up a bank in the private sector banks in India as part of the RBI's liberalisation of the Indian Banking Industry. It was incorporated in August 1994 as HDFC Bank Limited with registered office in Mumbai and commenced operations as Scheduled Commercial Bank in January 1995.
ING Vysya, yet another Private Bank of India was incorporated in the year 1930. Bangalore has a pride of place for having the first branch inception in the year 1934. With successive years of patronage and constantly setting new standards in banking, ING Vysya Bank has many credits to its account.
List of Private Banks in India -Bank of Punjab -Bank of Rajasthan -Catholic Syrian Bank -Centurion Bank -City Union Bank -Dhanalakshmi Bank -Development Credit Bank -Federal Bank -HDFC Bank -ICICI Bank -IDBI Bank -IndusInd Bank -ING Vysya Bank -Jammu & Kashmir Bank -Karnataka Bank -Karur Vysya Bank -Laxmi Vilas Bank -South Indian Bank -United Western Bank -UTI Bank
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KOTAK MAHINDRA GROUP
KOTAK MAHINDRA GROUP is one of India's leading financial institutions,
offering complete financial solutions that encompass every sphere of life. From
commercial banking, to stock broking, to mutual funds, to life insurance, to
investment banking, the group caters to the financial needs of individuals and
corporate.
The group has a net worth of around Rs.2900 Crores and employs over
8800employees in its various businesses. With a presence in 74 cities in India
and offices in New York, London, Dubai and Mauritius, it provides services to a
customer base of over 500000.
Kotak Mahindra has international partnerships with Goldman Sachs (one of the
world's largest investment banks and brokerage firms), Ford Credit (one of the
world's largest dedicated automobile financiers) and Old Mutual (a large
insurance, banking and asset management conglomerate).
THE JOURNEY SO FAR...
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HISTORY OF GROUP
The Kotak Mahindra Group was born in 1985 as Kotak Capital Management Finance
Limited. Mr.Uday Kotak, Sidney A. A. Pinto and Kotak & Company promoted this company.
Industrialists Harish Mahindra and Anand Mahindra took a stake in 1986, and that's when the
company changed its name to Kotak Mahindra Finance Limited.
Since then it's been a steady and confident journey to growth and success.
1985 The company was incorporated on 21st November 1985 under the
name Kotak Capital Management Finance Ltd. The Company has been
promoted by Mr. Uday S. Kotak, Mr. S.A.A Pinto and Kotak &
Company. The company obtained the certificate of commencement of
business on 11th February 1986 and the Existing promoters were
joined by Mr Harish Mahindra and Mr. Anand Mahindra. The
company's name was changed on 8th April 1986 to its present name
Kotak Mahindra Finance Ltd.
- The Company deals in Bill discounting, leasing and hire purchase,
corporate finance, management of fixed deposit mobilization,
financing against securities, money market operations, consumer
finance, investment banking and clients' money management
1986 Kotak Mahindra Finance Limited starts the activity of Bill
Discounting.
1987 Kotak Mahindra Finance Limited enters the Leases and Hire Purchase
market.
1990 3,08770 No. of equity shares subscribed for by the promoters,
directors, 3,41,230 No. of equity shares allotted as rights as on 28.3.89.
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19,50,000 shares issued as bonus (6,50,000 shares in prop. 1:1 as on
29.7.89 and 13,00,000 shares in prop. 1:1 as on 27.2.91). The Auto
Finance Division is started
1991 The Investment Banking Division is started.
Takes over FICOM, one of India’s largest financial retail marketing
networks.
An application was made to SEBI for approval for setting up a Mutual
Fund trust and an asset management company. The newly set up
Corporate Advisory Services Group received several mandates for
advice on mergers and acquisitions and re-structuring.
The Company's newly established Foreign Exchange Risk
Management Service carters to the vast potential demand for price risk
management. The Company established itself as a major leasing and
hire-purchase company and as a source of finance for purchasers of
automobiles.
1992 Enters the Funds Syndication sector. In January, the Company offered
and allotted 15,50,000 - 14% secured partly convertible debentures of
Rs 90 each for a total value of Rs 13.95 crores in the following
manner: (i) 2,00,000 debentures to promoters, directors, etc. (ii) 77,500
debentures to employees (including working directors)/workers on
preferential basis (iii) 12,72,500 debentures to Indian public through
prospectus.
- Additional 30,000 debentures to promoters, directors, etc., 9,500
debentures to employees and 1,93000 debentures to Indian public were
allotted to retain oversubscription.
- As per the terms of debenture issue, a portion of Rs 45 of each
debenture of Rs 90 was to be converted into 1 equity share of Rs 10
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each at a premium of Rs 35 per share as on the date of allotment of the
debentures. Accordingly 17,82500 No. of equity shares allotted as on
25th February, 1992, being the date of allotment of the debentures. The
non-convertible portion of Rs 45 of each debenture would be redeemed
at par in three equal installments of Rs 15, Rs 15 and Rs 15 at the end
of the 7th, 8th and 9th year respectively from the date of allotment of
the debentures.
- In April, the Company has raised Rs. 18 crores by issue of
Commercial Paper which has been awarded P1 + rating by Credit
Rating and Information Services of India limited (CRISIL) indicating
highest standards of safety.
1993 During February, the Company issued 69,82,500 Rights equity shares
of Rs 10 each at a premium of Rs 15 per share in proportion 1:1 (all
were taken-up). Additional 13,950 shares were allotted to those who
had applied for additional shares.
- The Company issued through a Prospectus 4400000 No. of equity
shares of Rs 10 each for cash at a premium of Rs 140 per share of
which the following were reserved for allotment (i) 130000 shares to
promoters, directors, their relatives etc., (ii)25000 shares to
Foreign/Indian Financial Institutions (all were taken up). Of the
remaining 50,000 shares reserved for allotment on a preferential basis
to employees (only 34,600 shares taken up). Another 555000 shares to
NRIs were reserved on non-repatriation basis (all were taken up).
- Balance 3640000 shares, along with 15,400 shares not taken up by
employees', were offered for public subscription.
- At the 8th Annual General Meeting held on 28th September the
Company has reserved 6122000 No. of equity shares of Rs 10 each for
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cash to be allotted at such issue price as may be decided by the board
to Foreign Institutional Investors and/or, Foreign and/or Indian Pension
and/or Mutual and/or other Funds and/or Institutions, Banks,
Companies, Bodies and/or individuals and/or Groups of Individuals.
- The Company's newly set up Corporate Advisory Services Group
received several mandates for advice on mergers and acquisitions and
re-structuring and some have already been executed with success.
1994 The Company entered into a Memorandum of Understanding with KB
Currency Advisors Inc. USA to market their Foreign Exchange Fund
Management programme.
- 183,65,500 Rights equity shares issued in prop. 1:1. 11,800 No. of
equity shares forfeited.
- The Company has received the approval of Securities and Exchange
Board of India (SEBI) for setting up a Mutual Fund.
1995 Brokerage and Distribution businesses incorporated into a separate
company - Kotak Securities.
Investment Banking division incorporated into a separate company -
Kotak Mahindra Capital Company. The Company issued 400000 -
17% Secured Redeemable Non-convertible Debenture of Rs 2500 each
including 96000 - 16% NCDs reserved for NRIs/URB (only 9510
taken-up). Unsubscribed portion of 90 debentures issued to the public.
These are redeemable at par on 7.3.2001 with an option for early
redemption up to a maximum of 5% of the issue amount every year.
The Company entered into a joint venture agreement with Ford Credit
International Inc. (FCI), a subsidiary of Ford Motor Credit Co., USA. It
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was proposed to finance all non Ford Passenger cars.
Kotak Mahindra Capital company became a subsidiary of the
Company
1996 The Auto Finance Business is hived off into a separate company -
Kotak Mahindra Primus Limited.
Kotak Mahindra takes a significant stake in Ford Credit Kotak
Mahindra Limited, for financing Ford vehicles.
The launch of Matrix Information Services Limited marks the Group’s
entry into information distribution. The Company's operations were
affected by the liquidity crunch, scarcity of resources, sluggishness in
the capital markets and the overall deceleration of economic growth.
The Company has entered into a MOU with the Chubb Corporation,
New Jersey, U.S.A., one of the largest American Insurance firms, to
develop a Joint Venture dedicated to the conduct of casuallity and
property insurance business in India.
The Company has invested a sum of about Rs 200 lakhs in Matrix
Information Services private Ltd. (Matrix), a company formed for
providing comprehensive value added information to business and
general users. Matrix is a wholly owned subsidiary of the company.
The Company has divested its entire holding of 20,00,070 No. of
equity shares of Rs 10 each of Kotak Mahindra Securities Ltd. (KMSL)
and 20,00,000 ordinary shares of US $ 1 each of Kotak Mahindra
International Ltd.
Hamko Financial Services Ltd., Kotak Mahindra Securities Ltd.,
provides of broking services to institutional and corporate clients,
Kotak, Mahindra Asset Management Company, Kotak Mahindra
International Ltd., an offshore company and Kotak Mahindra (UK)
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Ltd., are all subsidiaries of the Company.
The Company's public issue of 400000 16-17% Secured Redeemable
Non-Convertible Debentures of Rs.2500 each for cash at par
aggregating Rs.100 crores in January.
1997 In recognition of the Company's prudent funds management, CRISIL
has assigned a rating of AA+ to the Company's public issue of Non-
Convertible Debentures and P1+ for all short term borrowings up to
Rs.35000 lakes.
Kotak Mahindra Finance Ltd. has decided to venture into health
insurance business.
Kotak Mahindra Finance has launched a new consumer finance
product called Kotak Mahindra K-Value.
Hamko is a 100 per cent subsidiary of KMFL and investment in it was
structured to avoid limitations of Section 372 under the Companies
Act.
The company has diversified into various activities for which it has set
up subsidiaries including broking, capital market activities, auto
finance, etc
1998 Enters the Mutual Fund market with the launch of Kotak Mahindra
Asset Management Company. Kotak Mahindra Asset Management
Company Limited (KMAMCL) launched its mutual fund schemes in
December.
The Company it would launch its mutual fund with two schemes --
KGilt Unit Scheme and K30 Unit Scheme.
Kotak Mahindra Finance is a joint venture with Goldman Sachs.
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1999 The `FAA' (pronounced `F double A') rating assigned to the fixed
deposit programme of Ford Credit Kotak Mahindra (FCKM) has been
reaffirmed.
the allotment to the Company of 50,000 equity shares of Rs. 10 each
by Kotak Mahindra Trustee Company Limited (KMTCL) on 12th May
2000 Kotak Mahindra ties up with Old Mutual Plc. for the Life Insurance
business.
Kotak Securities launches kotakstreet.com - its on-line broking site.
Formal commencement of private equity activity through setting up of
Kotak Mahindra Venture Capital Fund. Kotak Mahindra Finance Ltd
(KMFL) and Chubb Corporation of the US have decided to call off
their joint venture for entering the general insurance business in India.
The Company has decided to set up a venture capital fund with an
initial corpus of Rs. 100 crore.
KMFL has set up a new asset reconstruction division to offer recovery
management services to players in the financial services industry.
The Company Issue of 91,82,500 No. of Equity Shares of Rs. 10/- each
for cash at a premium of Rs. 90/- per share aggregating Rs.
91,82,50,000 to the Equity Shareholders of the Company on Rights
basis in the ratio of one equity share for every our equity shares held on
15th February.
Mr. K.K. Sheth has resigned effective from May 8.
Kotak Securities an affiliate of Kotak Mahindra Finance Ltd., has
launched electronic broking services for retail investors.
Kotak Mahindra Finance is in talks with foreign insurers for a joint
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venture in the life insurance business.
The Company has proposed to start-up capital of Rs 150 crore in its
life insurance joint venture with Old Mutual, the UK based financial
services group.
The Company proposes to make the necessary applications to the RBI
and the Insurance Regulatory and Development Authority for entering
the life insurance business.
OM Kotak Mahindra Life Insurance Company, the recently formed
joint venture company of Kotak Mahindra Finance and Old Mutual Plc
has filed its application for approve of life insurance license on 1st
September.
Kotak Mahindra Finance Ltd has been assigned And AAA rating
(indicating highest credit quality) for its Rs.510 million medium term
borrowing programme.
Fitch India has assigned a rating of Ind AAA to the Rs 51-crore
medium term borrowing program of Kotak Mahindra Finance Ltd for
high credit quality and negligible risk factor. 2001
The Company recommended a swap ratio of 25 shares of KMFL for
every share of Pannier Trading which has a 75 per cent equity stake in
Kotak Securities.
The Bharath Petroleum Corporation Ltd (BPCL) has decided to part
ways with Kotak Mahindra, one of the leading domestic financial
services company, in its convenient store venture In & Out.
2002 Matrix sold to Friday Corporation
Launches Insurance Services.
KMFL's business has seen a fast growth with the total disbursement of
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commercial vehicle loan of the company in the last fiscal was tuned to
Rs. 250cr.
RBI has given in-principle approval to Kotak Mahindra Finance Ltd to
convert itself into a bank, thereby becoming the first ever non-banking
finance company converted into a bank.
Mr Uday Kotak says, there won't be any fresh capital infusion in the
bank in the near future.
KMFL informed BSE the FITCH ratings assigned: Fixed Deposit
Programme - Ind AAA Non-Convertible Debenture - Ind AAA
Mr.Ajay Sondhi has been appointed as the Additional Director of
Kotak Mahindra Finance Ltd.
Kotal Mahindra Finance Company has shortlisted i-flex solutions
'Flexicube' and 'Infosys', 'Finnacle' for its core banking solutions.
KMFL has raised 76.22cr by selling securitized commercial vehicle
loans to investors.
CRISIL has assigned ‘AAA (SO)' rating for Rs.83cr securitization
Programme of Kotak Mahindra Finance Ltd.
Mr.Uday Kotak has been appointed as the Executive Vice Chairman
and Managing Director of the company.
Kotak Mahindra Finance Ltd has mobilized Rs.10489cr , asset-backed
securitization of commercial vehicle receivables.
Business Standard and Business Standard digital have ceased to be the
subsidiaries of Kotak Mahindra Finance Ltd.
Mr.C Jayaram and Mr. Dipak Gupta are appointed as whole time
Directors on the Board of Kotak Mahindra Finance Ltd.
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2003 Finance limited converts to a commercial bank-the first Indian
company to do so. Madison Communications has won the Rs.30cr
Kotak Mahindra's media AOR account.
The proposal of changing the name from 'Kotak Mahindra Finance Ltd'
to 'Kotak Mahindra Bank Ltd' and the proposal to change the
Authorized capital from 100,00,00,000 divided into 10,00,00,000
equity shares of Rs.10 each has been approved by the company
shareholders.
RBI has granted license to Kotak Mahindra Finance Ltd to embark on
its banking business.
O & M has got the creative account of Kotak Mahindra Bank, and has
said to be working professionally.
Kotak Mahindra Bank has received a lot of interest from portfolio
investors, private equity investors and potential strategic investors.
Kotak Mahindra Bank has entered into an ATM sharing agreement
with UTI Bank, which would allow KMB's customer free access to
around 800 ATM's.
Kotak Mahindra Bank has started its operations in New Delhi by
inaugurating a branch Cannaught place office.
Dr.Shankar Acharya has been appointed as the Additional Director to
the board of the bank.
The Board of Kotak Mahindra Bank Ltd accepts the resignation of
Mr.S.A.A Pinto and Mr.M.R Punja as the Directors of the Bank.
Kotak Mahindra Investment Co Ltd. PCC a subsidiary of Kotak
Mahindra Capital Company has constituted itself from a private
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company to a public limited co. and has changed its name to 'Global
Investment Opportunities Fund Ltd'.
Kotak Mahindra bank has unveiled several home finance products
options which includes Home loan, Home equity Loan, Home loan
transfer and Home improvement loans.
Kotak Mahindra Bank launches online remittance services called,
FUNDS to HOME for Non-resident Indians.
In response to the repo rate cut by the RBI, the Kotak Mahindra Bank
has reduced its lending rates in home loans.
Kotak Mahindra Bank Limited has informed that the equity shares of
the Bank have been delisted from the Delhi Stock Exchange
Association Ltd w.e.f December 10, 2003.
2004 Launches India growth fund, a private equity fund. Kotak Mahindra
Bank Limited has informed that the Bank's equity shares will be
delisted from The Stock Exchange, Ahmadabad with effect from
January 20, 2004.
Kotak Mahindra Bank sets up branch in Surat
Kotak Mahindra Mutual Fund has launched Kotak Opportunities, an
open-ended equity growth scheme
Kotak Mahindra Bank inks pact with Reuters
2005 Kotak group realigns joint venture in ford credit.
Buys Kotak Mahindra Prime (formerly known as KM Primus Limited)
and sells Ford Credit Kotak Mahindra
Launches a real estate fund. Kotak Mahindra Bank purchases stressed
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assets worth Rs 1,000 cr
Kotak Bank join hands with IndianNGOs.com
Kotak Mahindra Bank invests Rs 25 cr in BFW
2006 Bought the 25% stake held by Goldman Sachs in Kotak Mahindra
Capital and Kotak Securities. Kotak Mahindra joins hand HDFC Bank
to share ATMs.
Kotak Mahindra to buy out Goldman Sachs' stake in JVs
Kotak Mahindra Bank sets up branch in Valsad
Kotak Mahindra subsidiary acquires Ford Credit's auto portfolio
2007 Kotak Mahindra Bank Launches Home Banking, Improves Banking
Experience. Kotak Mahindra Bank Launches Home Banking, Improves
Banking Experience
Kotak Mahindra Bank Launches Salary 2 Wealth
Kotak Mahindra Bank Launches Kotak Gold Debit Card
Kotak Mahindra Bank Ties up with Taxshax.com, Simplifies Filing of
IT Returns
2008 Kotak Mahindra Asset Management Company Limited (KMAMCL)
launched its mutual fund schemes in December.
The Company it would launch its mutual fund with two schemes --
KGilt Unit Scheme and K30 Unit Scheme.
Kotak Mahindra Finance is a joint venture with Goldman Sachs.
1999
The `FAA' (pronounced `F double A') rating assigned to the fixed
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deposit programmes of Ford Credit Kotak Mahindra (FCKM) has been
reaffirmed.
With the allotment to the Company of 50,000 equity shares of Rs. 10
each by Kotak Mahindra Trustee Company Limited (KMTCL) on 12th
May.
- Kotak Mahindra Bank launched credit cards for its customers.
2009 Kotak entered into tie up with Russia's top investment bank
Kotak Mahindra Bank Wins IT Team of the Year for 3rd Consecutive
Time at the Banking Technology Awards 2008
CORPORATE IDENTITY
An idea in the highest sense of a word cannot be conveyed, but a symbol
can be:
Page 25
The symbol of the Infinite Ka reflects our global Indian personality. The Ka is
uniquely while its curve forms the infinity sign, which is universal. One of the
basic tenets of economics is that man’s needs are unlimited. The Infinite Ka
symbolizes that we have an infinite number of ways to meet those needs.
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VISION STATEMENT
The global Indian financial services brand: our customers will enjoy
the benefits of dealing with a global Indian brand that best understand
their needs and delivers customized pragmatic solutions across multiple
platforms. We will be a world-class Indian financial services group. Our
technology and best practices will be benchmarked along international
lines while our understanding of customers will be uniquely Indian. We
will be more than a repository of our customers’ savings. We, the group,
will be a single window to every financial service in costumer’s universe.
The most preferred employer in financial services: A culture of
empowerment and a spirit of enterprise attracts bright minds with an
entrepreneurial streak to join us and stay with us. Working with a home-
grown, professionally-managed company, which has partnerships with
international leader, gives our people a perspective that is universal as
well as unique.
The most trusted financial services company: We will create an ethos
of trust across all our constituents. Adhering to high standards of
compliance and cooperate governance will be an integral part of building
trust.
Value creation: Value creation rather than size alone will be our
business driver.
27
KEY GROUP BUSINESSES:
Page 28
KOATAK MAHINDRA PRIME LTD
KOTAK SECURITIES
LTD
KOATK MAHINDRA
CAPITAL LTD
KOTAK MAHINDRA BANK LTD
KOTAK OLD MUTUAL
LIFE INSURANCE
KOTAK MAHINDRA
AMC LTD
KEY GROUP COMPANIES AND THEIR BUSINESSES:
Kotak Mahindra Bank Ltd. is the Kotak Mahindra Group’s flagship company.
Kotak Mahindra Finance Ltd that was established in 1985, was converted into a
bank - Kotak Mahindra Bank Ltd in March 2003 thus becoming the first Indian
finance company to be converted into a Bank. It’s banking operations offers a
central platform for customer relationships across the group’s various
businesses. The bank has a presence in the Commercial Vehicles, Retail
Finance, Corporate Banking and Treasury and has recently entered the Housing
Finance segment
Kotak Mahindra Capital Company Kotak Mahindra Capital Company
Limited (KMCC), India's premier Investment Bank and a Primary Dealer (PD)
approved by the RBI, is a strategic joint venture between Kotak Mahindra Bank
Limited and the Goldman Sachs Group, LLP. KMCC's core business areas
include Equity Issuances, Mergers & Acquisitions, Structured Finance and
Advisory Services, Fixed Income Securities and Principal Business.
Kotak Securities Ltd., a strategic joint venture between Kotak Mahindra Bank
Limited and the Goldman Sachs Group, LLP, is one of the India’s largest
brokerage and securities distribution house. Over the years, Kotak Securities has
been one of the leading investment broking houses catering to the needs of both
institutional and retails investor categories with presence all over the country
through franchisees and coordinators. Kotak Street - the retail arm of Kotak
Securities Ltd., offers online and offline services well-researched expertise and
financial products to the retail investors.
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Kotak Mahindra Primus Limited (KMP) is a joint venture between Kotak
Mahindra Bank Ltd and Ford Credit International Inc., (USA) formed to finance
all Ford passenger vehicles. KMP is one of the country’s leading players in car
finance and is focused to financing and supporting automotive and automotive
related manufacturers, dealers and retail customers.
Kotak Mahindra Asset Management Company (KMAMC), a subsidiary of
Kotak Mahindra Bank, is the asset manager for Kotak Mahindra Mutual Fund
(KMMF). KMMF manages funds in excess of Rs. 4000 crores and offers
schemes catering to investors with varying risk- return profiles. It was the first
fund house in the country to launch a dedicated gilt scheme investing only in
government securities.
Kotak Mahindra Old Mutual Life Insurance Limited is a joint venture
between Kotak Mahindra Bank Ltd. and Old Mutual plc. Kotak Life Insurance
helps customers to take important financial decisions at every stage in life by
offering them a wide range of innovative life insurance products, to make them
financially independent.
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About Kotak Mahindra Bank
Kotak Mahindra Bank is the flagship company of the group. The company
was incorporated in 1985 and over the years has spread its business into the
entire spectrum of financial services, either directly or through subsidiaries
Creating banking history
Established in 1984, The Kotak Mahindra group has long been one of India's
most reputed financial organizations. In February 2003, Kotak Mahindra
Finance Ltd, the group's flagship company was given the license to carry on
banking business by the Reserve Bank of India (RBI). This approval creates
banking history since Kotak Mahindra Finance Ltd. is the first Finance
company in India to be converted to a bank.
The complete bank
At Kotak Mahindra Bank, we address the entire spectrum of financial needs for
individuals and corporate. From Retail Finance to Equities, Mutual Funds to
Life Insurance and Investment Banking, we have the products, the experience,
the infrastructure and most importantly the commitment to deliver pragmatic,
end-to-end solutions that really work.
A license authorizing the bank to carry on banking business has been obtained
from the Reserve Bank of India in terms of Section 22 if the Banking
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Regulation Act, 1949. It must be distinctly understood, however, that in issuing
the license, the Reserve Bank of India does not undertake any responsibility for
the financial soundness of the bank or the correctness of any of the statements
made or opinion expressed in this connection.
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MAIN RETAIL BANKING SERVICES:
Deposits
Savings Account
Current Account
Term Deposits
Investment Services
Demat
Mutual Funds
Banc assurance
Convenience Banking
Net Banking
Phone Banking
Home Banking
ATM Network
Global Debit Card
Mobile Banking & Alert
Loans
Personal Loans
Home Finance
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INTRODUCTION TO
“Customer Relationship
Management in Indian Retail
Banking”
What is a Customer
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-A customer is not an outsider to our business. He is the definite part of it. A customer is not an interruption of our work. He is the purpose of it.
-A customer is not someone to argue or match wits with. He deserves courteous and attentive treatment.
-A customer brings us his wants. It is our job to handle them properly and profitably both to him and us.
-A customer is doing us a favour by letting us serve him. We are not doing him any favour.
CUSTOMER RELATIONSHIP MANAGEMENT
Customer relationship management (CRM) is developing into a major
element of corporate strategy for many organizations. CRM, also known by
other terms such as relationship marketing and customer management, is
concerned with creation, development and enhancement of individualized
customer relationships with carefully targeted customers and customer groups
resulting in maximizing their customer life time value.
Industry leaders are now addressing how to transform their approach to
customer management. A new form of cross-functional marketing, i.e. CRM is
replacing narrow functionally based traditional marketing. The traditional
approach marketing has been continuously questioned in recent years. This
approach emphasized on the management of the key marketing mix elements
such as product, price, promotion, and place within the functional context of the
marketing department.
The new CRM approach, while recognizing these key elements still need to be
addressed, reflect the need to create an integrated cross functional which focus
on marketing – one which emphasizes keeping as well as winning customers.
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Thus the focus is shifting from customer acquisition to customer retention and
ensuring the appropriate amount of time, money and managerial resources are
directed towards these tasks.
The adoption of CRM is being filled by a recognition that long-term
relationship with customers is one of the most important assets of the
organization and that information – enabled systems must be developed that
will give them “customer ownership”. Successful ownership will create
competitive advantage, which result in improved customer retention and
profitability for the company.
CRM an overview
Businesses today are continually looking for ways to achieve a competitive
advantage. Margins are shrinking, competition is increasing and industries are
consolidating. While customer expectation intensify for quality, service and
delivery, businesses are reducing staff and the same time searching for ways to
arm employees with information to make better decisions and innovate.
Customer is the most important asset in businesses. Consequently, applying
some management resources to improve the customer’s experience and
maximize the profit, potential of that asset is important. The concept of CRM as
a strategy reflects the business process and technology that can be combined to
optimize revenue, profitability and customer royalty.
The CRM market is evolving rapidly and is one of the fastest growing market
segments in application software .CRM has captured the mind share of senior
executives across a variety of industries. With a rapid growth of E-customer
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applications and the increasing need to sell to and support customers through
Internet, CRM solutions must provide a focal point for all the customers- facing
activities across the channels.
What is Customer Relationship Management?
It is a comprehensive approach that provides seamless coordination
between sales, customer service, marketing and field support and other
customer touching functions. CRM integrates people, process and
technology to maximize relationship with all customers including e-
customers, distribution channels and suppliers.
It is customer focused business strategy designed to optimize revenue,
profitability and customer royalty. By implementing a CRM strategy, an
organization can improve the business processes and technology
solutions around selling and marketing and servicing functions across all
customer touch – (for example: web, e-mail, phone, fax, in- person).
A primary objective of CRM is to provide the entire organization with a
complete, 360 –degree view of the customer, no matter where the information
resides or where the customer touch point occurred. Today, many businesses
manage different customer relationships with multiple information systems,
which weaken customer service and ultimate reduce total sales potential. To
realize the benefits of CRM, it is important to have an integrated solution across
all customers information systems, tying together the front and front offices for
a complete view of the customers in order to serve them better.
Why is it necessary?
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Many companies are turning to customer relationship management systems to
better understand customer wants and needs.
CRM applications often used in combination with data warehousing e-
commerce application and call-center, which allows companies to assess
information about customers buying history, preferences, complaints and other
data so they can better anticipate what customer will want. The goal is to instill
greater customer loyalty.
Other benefits include:
The ability to provide faster response to customer inquiries.
Increase efficiency through automation.
Having a deeper knowledge of customers.
Getting more marketing of cross selling opportunities.
Identifying the most profitable customers.
Receiving the customer feedback that leads to new and improved product
and services.
Doing One to One marketing.
WHY NOW?
What makes CRM appropriate for today’s environment? While there are many
number of environmental factors and business advancement that impact and
enable the real importance for CRM in today’s environment is competitive and
differentiation. CRM promises to be competitive and differentiation in today’s
environment.
Organization today is finding it difficult to compete on the basis of product.
Technology advancement has enabled the near immediate replication of product
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features and functions. It is just a matter of weeks between a product launch and
saturation of the market. Just think about it, are there many products out there
that are truly unique?
Price, which has traditionally been another basis of competitive differentiation,
is no longer a means for many to compete. Complex channel networks have
caused parity pricing.
Promotion strategies have similarly lessened as a means of differentiation.
Clubs abound, special offer are the norm, and sales are continual.
Place of distribution has likewise become less influential in the success or
failure of a business. The Internet has created an avenue for even the smallest
business to compete.
While all these factors are still important, none of them can alone support the
success of most business. CRM –the ability to provide a more meaningful sales
and service experience promises to be means of differentiating, of providing
customers with a reason to frequent your business rather than that of your
competitors.
Ownership of customer relationship provides exponentially greater rewards than
differences in product, price, promotion or place of distribution could ever offer.
All of these factors can even be mitigated if you can serve as the one stop
provider that can identify. Quantify, and service customer’s need.
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Implementing CRM
If CRM involves optimizing product, price, place of distribution, promotion,
sales and service, why are so many companies struggling? Hasn’t anyone really
mastered the art and science of CRM, and if not, why is it so difficult?
CRM is difficult because it is an enterprise-wide initiative.
CRM is not a technology initiative. Many have confused CRM as a
technology initiative, and assigned the CRM implementation project to
their I.S or I.T group. CRM conferences often equates to technology
exhibits and demonstration. Technology is needed in order to implement
CRM, particularly the customization part but technology is not the driver
of CRM, or the solution to successful CRM implementation
CRM is not exclusively a sales initiative. Similar to marketing, CRM is
often lodged within the sales department. The sales force, after all, is
extremely close to their customers, understanding their needs and wants,
and trying to fulfill them. Sales, however, is just one functional area that can
benefit from CRM, and that is necessary for effective CRM.
CRM is not exclusively a marketing initiative. Many organizations have
merely equated CRM with customer-focused marketing, or
data-driven/database marketing. CRM requires marketing expertise. But
CRM is not strictly a marketing initiative.
CRM is not exclusively a service initiative. As with sales and marketing,
customer service is one functional aspect of successful CRM
implementation. But customer service is not the sole driver of the
process.
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CRM involves marketing, sales, service and technology, as well as the
other inner workings of an organization.
Thus it is properly described as an enterprise-wide initiative. It involves all the
areas of the organization and all the functions of the organization and it requires
all areas of the organization to be working together in harmony. CRM requires
all areas of the organization to not only exist in harmony, but to be working
toward the common goal of stronger relationships.
IMPORTANCE OF CRM
Value of CRM to business
A CRM strategy is designed to increase revenue and profitability by attracting
new customers, growing customer business, increasing customer satisfaction
and loyalty, enabling more efficient business processes and utilizing lower cost
technologies.
The primary goal of CRM is higher revenue, not cutting costs. A CRM solution
improves sales and marketing efforts and enables organizations to provide
superior service to customers. New customers are gained, and existing
customers are retained and buy more in greater quantity. And customer’s
benefits are receiving superior customer service and getting the products and
services they want, when they want them.
An enterprise that does not have CRM strategy or use CRM applications is at a
competitive disadvantage.
Before engaging on a mission to implement a CRM strategy, it is critical to
determine what the specific objectives are and how to measure the return on
investment.
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There are sobering statistics that over one-half of CRM implementations ”fail”,
primarily due to lack of consensus on agreed –upon and more importantly,
measurable goals. While objectives can address specific points of poor
performance-for examples low sales performance or customer satisfaction
scores-it is important that they also address supporting the entire customer life
cycle.
CUSTOMER RELATIONSHIP MANAGEMENT IN BANKING
Banks Become Customer-Centric
The post-liberalized banking sector in India has been witnessing spectacular
changes. The major reasons for the recent radical changes in banking industry’s
portfolio are competition, consolidation, information technology and the need to
be customer-centric.
Banks could improve the profitability by adopting strategies like market
segmentation, innovation, price bundling and relationship. Technology has a
major role to play in retail banking, but its role is complementary to customer
service initiatives.
Due to increased financial market products like commercial paper and variety of
financial instruments, big corporate clientele of several commercial banks have
shifted their loyalty, and have been raising resources from the market directly
and commercial banks have become more retail customer-centric by offering
wide range of services. Banks have identified new customer segments like
students, workingwomen, and high rich net worthy individuals.
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CUSTOMER RELATIONSHIP PROFITABILITY
Regulated era has given assured profits to banks, but in the post deregulation
period as margins are falling down substantially, banks are concentrating on
customer relationships. Banking services can be divided into three categories:
core services, facilitating services and supporting services. Core service is the
reason for being in the market. Facilitating services are needed so that the core
service can be used, and supporting services exactly discriminates the service
package from the services of competitors.
Customer relationship is the base on which the structure of retail banking will
evolve. The cost to develop customer relationship is always higher than the
revenue,
But when the relationship grows new demands will appear and then the
incremental revenue would be higher than incremental costs.
The cost associated with building up of the relationship is huge. They are
advertising costs, price incentives, set up costs for accounts and service costs
etc.
Customer service delivery is vital for the success of banking operations. This is
not possible only through technology. Process consistency within and across
service channels is paramount. Banks are increasingly making investment in a
single type of process, rather investing in asset of processes that depends on
human resource policies.
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THE OLD CONCEPT v/s THE NEW CONCEPT OF CRM IN BANKING
THE OLD CONCEPT:
THE BACK OFFICE (FINANCE, HR, ADMINISTRATION) THE FRONT OFFICE (SALES, MARKETING)THE CUSTOMER
According to this concept, the back office did not link the customer. Customer was seen with only with the front office that is sales and marketing.
THE NEW CONCEPT:
THE BACK OFFICE
THE FRONT OFFICE THE CUSTOMER THE BACK OFFICE
THE BACK OFFICE
In this concept customer is the center of all the activities. She can know about whole organizational activities. The new concept of CRM treats the customer as the uncrowned king of the business.
This is considered to be crucial for retaining customers since the success of any firm or organization is determined by it's ability to track customer dissatisfaction, so that suitable correction could happen in the product or process to present complaints. The circuit is completed thus for an effective & rounded of solutions for addressing business issue in a comprehensive way.
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The Need for CRMThe lifelong customer has never been such valuable. People are demanding much for less and responding to their needs is a constant challenge.
When we are not certain about present day customers , how can we be sure of getting customers five years down the line, next year ,next month, or for that matter even tomorrow.
The old way of marketing and advertising are in deep trouble, it may not work any more. It costs five times more to find a customer then to retain her. Therefore it is wise enough to retain her.
Firms of late have realized that service to a customer does not stop by delivering a good product on time, with a good price. Leaving them in darkness with the risk of responsive competitor providing timely information & service and snatching away the customer from their holds, forced organization to look for a concept will enable them to achieve customer's delight.
Instead of looking at the internal process the orientation came to look outside the business and more towards the customers.
Customer suddenly become the heart of the whole organization , and organizations started releasing that the entire business evolves around the customer. It is the customer centric approach, which is supposed to be the nucleus of CRM. The Banks want to be a major retail consumer Banks in India. The part of retail Banking goes not only with Credit Card but Debit Cards and Smart Cards as well.The Customer can get a bunch of additional services with co-branded cards, which have tie-ups with petroleum CO’s, airlines, hospital chains.Banks have introduced Debit Cards self-explanatory card that caters very well to the tastes of credit averse Indians. The banks are providing all products under one roof and that includes the retail staff as well.
HDFC Bank, ICICI, UTI Bank and HSBC, Citi are wooing corporate to open salary accounts. The minimum balance required for these accounts is zero and hence customer base of these Banks is exponentially increasing.ATM network, which provides visibility and convenience and hence helps in increase customer acquisition, is set near railway station, petrol pump, shopping complexes etc.Internet Banking is available to the customer at his desktop, while the branches may be 2 to 3 kms. Away.
Some banks have already ventured to maintain relationship with online banking through Internet. The latest trend in banking strategy is clicks&bricks in which customer can debit or credit accounts, check balances and even trade on it. car loans is other area in which banks are developing relationship with the customer. The ideal model of maintainining relationship with the customer focuses on the customer service issues. Banks are providing customers with the highest quality services with special emphasis on recognizing customer needs and cross selling (expanding relationship with existing clients to increase range of services delivered to the clients) appropriate bank services.In a nutshell the customer has become the fulcrum of all Banking activities.
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CUSTOMER LIFE CYCLE
1. Customer needs acquisition and assessment.
2. Customer development through personalization and customization.
3. Customer equity leverage through cross selling
4. Customer retention and referrals for new customers.
1. The ideal method of customer acquisition is through referrals as it is directly reflects ones product or service quality. But still most of the companies go for the traditional mass media advertising and the argument they give is that we need the initial critical mass of customers to get further referrals.
2. A customer can be developed or nurtured through personalization of communication to him and customization of products and services through mutual learning process. Making him feel important at every single point.
3. Customer equity leverage through cross selling. Cross selling means “Expanding relationships with existing clients"
4. And as we all know it is about 4 times costlier to acquire a new customer rather than the cost incurred on retaining one. So customer retention is the key.
Page 46
Who are HNI Customers?
They are High net worth individual customer.
They are the major targets for private bankers.
Bank provides premium class facilities to these clients and tries to cater
their special needs related to financial and non-financial in nature.
They are high profile customers.
They have income of above Rs.10 lakhs per annum.
The customer who can maintain at least a very high amount in their
accounts.
Bank tries to maintain long-term relationship with these clients.
HNI customers have a Relationship Manager
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How to approach HNI Customers:
Approaching to prospective customer is very important for any organization. If
banks rightly approach customer then a long-term relation can be expected.
Followings are the steps how a bank approached to HNI customers.
DATA COLLECTION: Normally banks maintain their data bank, which is
collected from various sources like Credit Card holders, Different Account
Holder’s Primary data, Yellow pages, Directories.
TELE CALLING: Once the data is collected then the tele callers call upon to
these contacts and make the clients aware about various facilities provided by
the banks. If the clients show their inclination then a appointment is fixed with
these clients and the Relationship managers visit the clients.
ROLE OF RELATIONSHIP MANAGER: This appointment is called as a
LEAD. This lead is transferred to the relationship manager and the client is
approached personally. Relationship manager explain the facilities provided and
take note to the clients’ additional needs which can also be fulfilled by their
services. If the client is convinced the lead converts in the customer form.
CORPORATE BANKING: Relationship manager analyses the requirements
of the customers and provide the best-suited product. Relationship manager
explains the various investment options available in the market and give the
customer the opportunity to select the option, which is suitable to him.
PORTFOLIO MANAGEMENT: If the customer has invested then the role of
the manager is to design his portfolio keeping in mind the risk and return
factors. Portfolio manager provide these customer the requisite information
48
about the investment opportunities available in the market according to the
profile of the customer.
HANDLING QUERIES: Frequent services and time to time updating of the
market circumstances are shared with these customers. The relationship
manager with the help of other officers clarifies their doubts and queries are
handled with a special care.
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Gems and Jewellery Industry. Builders (Real Estate)
V.K.I Industry Area.
Suspects
Prospects
First Time Customers
HNI CUSTOMERS
Mainly my work was to deal with HNI customers and to find out the interested
potential customers for opening the account in KMBL.I had convinced them to
build a new and healthy relationship by opening the account. Instead of
covering all the areas, I have decided to cover 2 important sectors:
Gem and Jewellery Industry
Builders Industry (Real Estate)
Local Businessmen
I have selected the first two sectors, as they are the booming sectors of market.
These two segments are my suspects. Suspects are those persons who might buy
the product and who will be ready to open the account in KMBL. Then I have
determined the most likely prospects from these suspects through telecalling
and explaining about the features of account. /prospects are those persons who
are interested in opening the account. By opening the account and building
relationship, they have become the first-time customers. These three steps can
be referred as customer development Process, how you are creating the
relationship with customers.
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THE NEW CONCEPT:
THE BACK OFFICE
THE FRONT OFFICE THE CUSTOMER THE BACK OFFICE
THE BACK OFFICE
In this concept customer is the center of all the activities. She can know about whole organizational activities. The new concept of CRM treats the customer as the uncrowned king of the business.
This is considered to be crucial for retaining customers since the success of any firm or organization is determined by it's ability to track customer dissatisfaction, so that suitable correction could happen in the product or process to present complaints. The circuit is completed thus for an effective & rounded of solutions for addressing business issue in a comprehensive way.
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Current Account
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CURRENT ACCOUNT
Basically a current account is opened for artificially created entity. This
artificially created entity can be a firm, sole proprietorship, association,
partnership or anything else. No interest is paid on the current account. The
bank charges some nominal amount for the transaction that takes place.
Tools for opening of the Current accounts
Walk in: - There was a huge number of walk in customers in KMBL, we use to
open their current accounts
References: - References were being collected from the leads which we were
having and from other sources like Chartered Accountants, Relatives, Friends
etc.
Cold Calls: - This refers to the telephonic call, which we use to make; we use
to take appointment before approaching the person.
Hot calls: - This refers to the direct face-to-face calls, which we use to make
without taking any prior appointments.
Databases: - The various databases provided by the KMBL itself, which
includes directories, yellow pages, club directories, etc.
Procedure of opening of the account is as follows
Preparing the proposal
Meeting to the financial advisor of that office and giving him the
proposal, telling him the benefits, which the firm will be getting after
opening its account in HSBC bank.
Seeking permission of opening of account.
Meeting to the owner of the firm/company
Filling up the forms and completing the necessary Documentation.
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KMBL and Current Account
HSBC Bank has various current accounts to match different needs of the
businessman. All these account are designed to suit the various need of the
businessman.
Types of Current Account at KMBL
Kotak Edge Current Account
Kotak Pro Current Account
Kotak Ace Current Account
KMBL and Savings Account
Kotak Edge Current Account
Kotak Pro Current Account
Kotak Ace Current Account
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Kotak Edge Current Account
Features
Attractive Returns
Business Advantages
Convenience Banking.
Everyone needs a well-equipped bank account to keep pace with the business
endeavors. Kotak Mahindra Bank offers the Kotak Edge Current Account,
armed with Kotak 2-Way Sweep and entire gamut of banking privileges,
providing the extra edge to get ahead. The feature rich Kotak Edge Current
Account is the ideal way to make money work harder.
ATTRACTIVE RETURNS:
Kotak Edge Current Account combines liquidity of a Current account with the
attractive returns of a Term Deposits through the unique Kotak 2-Way Sweep.
KOTAK ADVANTAGES
Experience the ‘edge’ of business gains while banking through a host of
advantages offered by Kotak Edge Current Account.
Free Demand Drafts
Avail Demand Drafts, free of cost, payable at any of the branch locations, just
by calling Phone Banking services. There is no limit to the number/value of
Demand Drafts drawn by the customer at these locations
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Free Home Banking
For free cash/demand draft delivery, dial phone banking service and enjoy time
saving banking experience from the comfort of home or office. The customer
can also use the facility for free cash/cheque pickup.
Free At par Cheques
Kotak Mahindra Bank’s At-par cheques are treated as ‘local clearing’ cheques
across select locations in the country. The At-par cheque facility comes to the
customer free of charge. The customer can now save DD making charges while
enjoying the convenience of a cheque
Free Cheque Collections
Outstation cheques, drawn on any of the branch locations, would be collected
‘free of charge’ for the account holder. Only a nominal charge is levied for non-
branch location.
Free Electronic Fund Transfer
Transfer funds to third party accounts in other banks, without drawing a
Demand Draft or a cheque, by using Electronic Transfer facility. With this
facility, the accountholder can save on Demand Draft making/couriering
charges and also transfer funds faster.
Overdraft against Term Deposit
As a Kotak Edge Current accountholder, you can avail an overdraft against
Term Deposit held with KMBL. This facility helps effectively tackle short-term
cash flow problems and since the Term Deposits remains intact, the
accountholder continue to earn interest on the investment.
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CONVENIENCE BANKING
A host of convenience banking facilities allows the accountholder to access
account anytime, anywhere.
Global Debit Card
Access the account free of cost at 1000+ Kotak Mahindra Bank and HDFC
Bank ATMs by using the VISA Global Debit Card. The accountholder can also
use Debit Card at all VISA affiliated merchant establishments and ATMs
worldwide.
Phone Banking
Dial 24 hour Toll Free number 1800 116022 (North India) OR (Rest of India)
from anywhere and customer Care Officer will help instantly with all banking
requirements.
Net Banking
Just log on to “www.kotak.com” to access Net banking facility. Take
advantage of the Internet to bank from home, office or anywhere in the world at
a time of convenience.
Page 57
At-Home Services
This service enables the accountholder to make Utility Bill payments like
electricity, telephone and mobile phone bills and also get document delivery and
pickup from the bank.
Mobile Banking
Use this service to access bank account anywhere, anytime. It is quick and easy,
available to the accountholder 24X7 and it’s absolutely free. The accountholder
don’t have to pay any charge to avail this service. The account holder can use
Mobile Banking to check account balance, last 3 transactions details, issued
cheque status and request a cheque book. The customer can use Alerts Service
to get Alerts by SMS and/or email whenever the balance falls below the
Average Quarterly Balance or a Standing Instruction set by the account holder
fails.
Eligibility Criteria
These current accounts are offered to Sole Proprietorships, Partnerships
and Private Limited Companies.
To be eligible
Edge Account customers need to maintain a minimum average quarterly
balance of Rs.25000. Non-maintenance of this balance invites a fee of Rs.750
per quarter.
Documentation Criteria
Account Opening Requirements:
Completed Account Opening Form
Page 58
Passport size photograph of every signatory duly signed
PAN card
Address Proof document
Identity card
Additional documents required:
Partnerships: Partnership Deed
Limited Company: Memorandum and Articles, Board Resolution,
Page 59
Kotak Pro Current Account
Features
Attractive Returns
Business Advantages
Pro Privileges
Convenience Banking.
Everyone needs a well-equipped bank account to keep pace with the business
endeavors. Kotak Mahindra Bank offers the Kotak Pro Current Account, armed
with Kotak 2-Way Sweep and entire gamut of banking privileges and ‘user
friendly’ Convenience Banking facilities. The feature rich Kotak Pro Current
Account is the ideal way to make money work harder.
ATTRACTIVE RETURNS:
Kotak Pro Current Account combines liquidity of a Current account with the
attractive returns of a Term Deposits through the unique Kotak 2-Way Sweep.
BUSINESS ADVANTAGES
The host of features offered by Kotak Pro Current Account makes money to
work while offering Convenient Banking experience.
Free Demand Drafts
Avail Demand Drafts, free of cost, payable at any of the branch locations, just
by calling Phone Banking services. There is no limit to the number/value of
Demand Drafts drawn by the customer at these locations. What’s more, the
customer can avail free DDs upto a pre-specified limit, at non-branch locations
too.
Page 60
Free Cheque Collections
Outstation cheques, drawn on any of the branch locations, would be collected
‘free of charge’ for the account holder. Only a nominal charge is levied for non-
branch location.
Free Home Banking
For free cash/demand draft delivery, dial phone banking service and enjoy time
saving banking experience from the comfort of home or office. The customer
can also use the facility for free cash/cheque pickup.
Free At par Cheques
Kotak Mahindra Bank’s At-par cheques are treated as ‘local clearing’ cheques
across select locations in the country. The At-par cheque facility comes to the
customer free of charge. The customer can now save DD making charges while
enjoying the convenience of a cheque.
Free Electronic Fund Transfer
Transfer funds to third party accounts in other banks, without drawing a
Demand Draft or a cheque, by using Electronic Transfer facility. With this
facility, the accountholder can save on Demand Draft making/couriering
charges and also transfer funds faster.
PRO PRIVILAGE
Kotak Pro Savings account comes with special privileges that provide an extra
fillip to banking experience.
Page 61
Family Savings Account
Kotak Pro Savings package entitles a Family Savings Account. This account
comes with a host of benefits like Kotak 2-Way Sweep, At-par cheque facility
and other beneficial features. So now, even dear ones of the accountholder can
enjoy the banking.
Free Cheque Pick-up
The accountholder can avail the added benefit of a ‘free’ cheque pick up
service. This service enables to have cheques and documents picked up from the
doorstep on a daily basis, helping the accountholder to devote more time and
energy to business
Free At-Home Services
This service enables the accountholder to make Utility Bill payments like
electricity, telephone and mobile phone bills and also get document delivery and
pick up from the bank.
Page 62
CONVENIENCE BANKING
A host of convenience banking facilities allows the accountholder to access
account anytime, anywhere.
Global Debit Card
Access the account free of cost at 1000+ Kotak Mahindra Bank and HDFC
Bank ATMs by using the VISA Global Debit Card. The accountholder can also
use Debit Card at all VISA affiliated merchant establishments and ATMs
worldwide.
Phone Banking
Dial 24 hour Toll Free number 1800 116022 (North India) OR (Rest of India)
from anywhere and customer Care Officer will help instantly with all banking
requirements.
Net Banking
Just log on “www.kotak.com” to access “Net banking facility” . Take
advantage of the Internet to bank from home, office or anywhere in the world at
a time of convenience.
Mobile Banking
Use this service to access bank account anywhere, anytime. It is quick and easy,
available to the accountholder 24X7 and it’s absolutely free. The accountholder
don’t have to pay any charge to avail this service. The account holder can use
Mobile Banking to check account balance, last 3 transactions details, issued
cheque status and request a cheque book. The customer can use Alerts Service
to get Alerts by SMS and/or email whenever the balance falls below the
Page 63
Average Quarterly Balance or a Standing Instruction set by the account holder
fails or the accountholder can even ask for account balance to be sent on a daily
basis or weekly basis.
Eligibility Criteria
These current accounts are offered to Sole Proprietorships, Partnerships
and Private Limited Companies.
To be eligible
Pro Account customers need to maintain a minimum average quarterly balance
of Rs.50000. Non-maintenance of this balance invites a fee of Rs.750 per
quarter.
Documentation Criteria
Account Opening Requirements:
Completed Account Opening Form
Passport size photograph of every signatory duly signed
PAN card
Address Proof document
Identity card
Additional documents required:
Partnerships: Partnership Deed
Limited Company: Memorandum and Articles, Board Resolution,
List of Directors
Page 64
Kotak Ace Current Account
Features
Attractive Returns
Business Advantages
Ace Privileges
Convenience Banking.
ATTRACTIVE RETURNS:
Kotak Ace Current Account combines liquidity of a current account with the
attractive returns of a Term Deposits through the unique Kotak 2-Way Sweep.
KOTAK ADVANTAGES
Ace current Account comes with a host of advantages that are aimed at
providing superior banking experience.
Free Demand Drafts
Avail Demand Drafts, free of cost, payable at any of the branch locations, just
by calling Phone Banking services. There is no limit to the number/value of
Demand Drafts drawn by the customer at these locations. What’s more, the
customer can avail free DDs up to a pre-specified limit, at non-branch locations
too.
Page 65
Free Cheque Collections
Outstation cheques, drawn on any of the branch locations, would be collected
‘free of charge’ for the account holder. Only a nominal charge is levied for non-
branch location.
Free Home Banking
For free cash/demand draft delivery, dial phone-banking service and enjoy time
saving banking experience from the comfort of home or office. The customer
can also use the facility for free cash/cheque pickup.
Free At par Cheques
Kotak Mahindra Bank’s At-par cheques are treated as ‘local clearing’ cheques
across select locations in the country. The At-par cheque facility comes to the
customer free of charge. The customer can now save DD making charges while
enjoying the convenience of a cheque.
Free Electronic Fund Transfer
Transfer funds to third party accounts in other banks, without drawing a
Demand Draft or a cheque, by using Electronic Transfer facility. With this
facility, the accountholder can save on Demand Draft making/couriering
charges and also transfer funds faster.
Overdraft against Term Deposit
As a Kotak Ace Current accountholder, you can avail an overdraft against Term
Deposit held with KMBL. This facility helps effectively tackle short-term cash
flow problems and since the Term Deposits remains intact, the accountholder
continue to earn interest on the investment.
Page 66
ACE PRIVILAGES
Ace account has been designed with exclusive benefits that give an extra fillip
to banking.
Free Cheque Pick-up
The accountholder can avail the added benefit of a ‘free’ cheque pick up
service. This service enables to have cheques and documents picked up from the
doorstep on a daily basis, helping the accountholder to devote more time and
energy to business
Free Demat Account
As an Ace Current Account customer, the accountholder can open a Demat
Account with Kotak bank free of charge. Even the annual charges towards the
Demat account are waived off.
Family Savings Account
Ace account allows extending the Kotak banking experience with 3 family
savings accounts. The family savings account comes with a host of benefits like
Kotak 2-Way Sweep, At-par Cheque facility and other attractive features.
Free Trading Account
Kotak Ace savings account customer can avail a ‘free Trading account with
Kotak Securities, giving access to online trading through Kotaksecurities.com.
And with Payment Gateway facility, the accountholder can pay trading bills
online from bank account directly.
Page 67
Free Investment Account
Avail a free investment account that provides a consolidated view of all the
investments. The Investment account statement gives a ‘single window view’ of
Mutual Fund portfolio, listing the NAV of each scheme invested into, current
consolidated value of portfolio, and realized/unrealized returns against each
investment made.
Personal Investment Advisor
To identify and analyze the specific investment requirements, KMBL provide a
dedicated Personal Investment Advisor. This person alerts the customer of
investment opportunities, sends regular updates and feedback on the
performance of the investments, helping for monitor, manage and grow wealth
in the ever fluid investment climate.
CONVENIENCE BANKING
A host of convenience banking facilities allows the accountholder to access
account anytime, anywhere.
Global Debit Card Free
Access the account free of cost at 1000+ Kotak Mahindra Bank and HDFC
Bank ATMs by using the VISA Global Debit Card. The accountholder can also
use Debit Card at all VISA affiliated merchant establishments and ATMs
worldwide.
Page 68
Phone Banking
Dial 24 hour Toll Free number 1800 116022 (North India) OR (Rest of India)
from anywhere and customer Care Officer will help instantly with all banking
requirements.
Net Banking
Just log on www.kotak.com to access Net banking facility. Take advantage of
the Internet to bank from home, office or anywhere in the world at a time of
convenience.
At-Home Services
This service enables the accountholder to make Utility Bill payments like
electricity, telephone and mobile phone bills and also get document delivery and
pickup from the bank.
Mobile Banking
Use this service to access bank account anywhere, anytime. It is quick and easy,
available to the accountholder 24X7 and it’s absolutely free. The accountholder
don’t have to pay any charge to avail this service. The account holder can use
Mobile Banking to check account balance, last 3 transactions details, issued
cheque status and request a cheque book. The customer can use Alerts Service
to get Alerts by SMS and/or email whenever the balance falls below the
Average Quarterly Balance or a Standing Instruction set by the account holder
fails or the accountholder can even ask for account balance to be sent on a daily
basis or weekly basis.
Page 69
Eligibility Criteria
These current accounts are offered to Sole Proprietorships, Partnerships
and Private Limited Companies.
To be eligible
Ace Account customers need to maintain a minimum average quarterly balance
of Rs.250000. Non-maintenance of this balance invites a fee of Rs 750 per
quarter.
Documentation Criteria
Account Opening Requirements:
Completed Account Opening Form
Passport size photograph of every signatory duly signed
PAN card
Address Proof document
Identity card
Additional documents required:
Partnerships: Partnership Deed
Limited Company: Memorandum and Articles, Board Resolution,
List of Directors
Page 70
Savings Account
Page 71
Kotak Edge Savings Account
Features
Attractive Returns
Kotak Advantages
Convenience Banking.
Everyone needs a savings avenue that makes the most of their hard earned
money. Kotak Mahindra Bank offers the Kotak Edge savings Account, armed
with Kotak 2-Way Sweep and entire gamut of banking privileges. The feature
rich Kotak Edge savings Account is the ideal way to make money work harder.
ATTRACTIVE RETURNS:
Kotak Edge savings Account combines liquidity of a savings account with the
attractive returns of a Term Deposits through the unique Kotak 2-Way Sweep.
2-Way Sweep
2-Way Sweep ensures that the money never stops working by linking the
savings account to a term deposit.
Attractive Returns: Funds above a pre-set limit in the saving account
are automatically swept into a Term Deposit account in units of Rs
10,000 and invested for a period of 181 days, allowing the customer to
earn higher interest on the savings.
Maximum Liquidity: Should cash withdrawals and cheques issued
exceed the balance in the savings account, KMBL make sure that the
transactions are honored. KMBL do that by sweeping the Term Deposits
Page 72
into the savings account in units of Rs 10000. And then too, it takes care
to transfer only the latest term deposits which ensure that the interest loss
is minimized. The remaining amount in the term deposit account
continues to earn higher interest at the original applicable rate. KMBL
levy no penalty for premature withdrawals from term deposits.
KOTAK ADVANTAGES
Experience the ‘edge’ while banking through a host of advantages offered by
Kotak Edge Savings Account.
Free Home Banking
For free cash/demand draft delivery, dial phone banking service and enjoy time
saving banking experience from the comfort of home or office. The customer
can also use the facility for free cash/cheque pickup.
Free At par Cheques
Kotak Mahindra Bank’s At-par cheques are treated as ‘local clearing’ cheques
across select locations in the country. The At-par cheque facility comes to the
customer free of charge. The customer can now save DD making charges while
enjoying the convenience of a cheque.
Free Cheque Collections
Outstation cheques, drawn on any of the branch locations, would be collected
‘free of charge’ for the account holder. Only a nominal charge is levied for non-
branch location.
Page 73
Free Electronic Fund Transfer
Transfer funds to third party accounts in other banks, without drawing a
Demand Draft or a cheque, by using Electronic Transfer facility. With this
facility, the accountholder can save on Demand Draft making/couriering
charges and also transfer funds faster.
CONVENIENCE BANKING
A host of convenience banking facilities allows the accountholder to access
account anytime, anywhere.
Global Debit Card
Access the account free of cost at 1000+ Kotak Mahindra Bank and HDFC
Bank ATMs by using the VISA Global Debit Card. The accountholder can also
use Debit Card at all VISA affiliated merchant establishments and ATMs
worldwide.
Phone Banking
Dial 24 hour Toll Free number 1800 116022 (North India) OR (Rest of India)
from anywhere and customer Care Officer will help instantly with all banking
requirements.
Net Banking
Just log on www.kotak.com to access Net banking facility. Take advantage of
the Internet to bank from home, office or anywhere in the world at a time of
convenience.
Page 74
At-Home Services
This service enables the accountholder to make Utility Bill payments like
electricity, telephone and mobile phone bills and also get document delivery and
pickup from the bank.
Mobile Banking
Use this service to access bank account anywhere, anytime. It is quick and easy,
available to the accountholder 24X7 and it’s absolutely free. The accountholder
don’t have to pay any charge to avail this service. The account holder can use
Mobile Banking to check account balance, last 3 transactions details, issued
cheque status and request a cheque book. The customer can use Alerts Service
to get Alerts by SMS and/or email whenever the balance falls below the
Average Quarterly Balance or a Standing Instruction set by the account holder
fails.
Page 75
Kotak Pro Savings Account
Features
Attractive Returns
Kotak Advantages
Pro Privileges
Convenience Banking.
Everyone needs a savings avenue that makes the most of their hard earned
money. Kotak Mahindra Bank offers the Kotak Pro savings Account, armed
with Kotak 2-Way Sweep and entire gamut of banking privileges and ‘user-
friendly’ Convenience Banking facilities. The feature rich Kotak Pro savings
Account is the ideal way to make money work harder.
ATTRACTIVE RETURNS:
Kotak Pro Savings Account combines liquidity of a savings account with the
attractive returns of a Term Deposits through the unique Kotak 2-Way Sweep.
KOTAK ADVANTAGES
The host of features offered by Kotak Pro Savings Account makes money to
work while offering Convenient Banking experience.
Free Home Banking
For free cash/demand draft delivery, dial phone banking service and enjoy time
saving banking experience from the comfort of home or office. The customer
can also use the facility for free cash/cheque pickup.
Page 76
Free At par Cheques
Kotak Mahindra Bank’s At-par cheques are treated as ‘local clearing’ cheques
across select locations in the country. The At-par cheque facility comes to the
customer free of charge. The customer can now save DD making charges while
enjoying the convenience of a cheque.
Free Demand Drafts
Avail Demand Drafts, free of cost, payable at any of the branch locations, just
by calling Phone Banking services. There is no limit on the number/ value of
DD’s drawn by the customers at these locations. What’s more, the customer can
avail free DDs up to a pre-specified limit, at non-branch locations too.
Free Cheque Collections
Outstation cheques, drawn on any of the branch locations, would be collected
‘free of charge’ for the account holder. Only a nominal charge is levied for non-
branch location.
Free Electronic Fund Transfer
Transfer funds to third party accounts in other banks, without drawing a
Demand Draft or a cheque, by using Electronic Transfer facility. With this
facility, the accountholder can save on Demand Draft making/couriering
charges and also transfer funds faster.
PRO PRIVILAGE
Kotak Pro Savings account comes with special privileges that provide an extra
fillip to banking experience.
Family Savings Account
Kotak Pro Savings package entitles a Family Savings Account. This account
comes with a host of benefits like Kotak 2-Way Sweep, At-par cheque facility
Page 77
and other beneficial features. So now, even dear ones of the accountholder can
enjoy the banking.
Free At-Home Services
This service enables the accountholder to make Utility Bill payments like
electricity, telephone and mobile phone bills and also get document delivery and
pickup from the bank.
CONVENIENCE BANKING
A host of convenience banking facilities allows the accountholder to access
account anytime, anywhere.
Global Debit Card
Access the account free of cost at 1000+ Kotak Mahindra Bank and HDFC
Bank ATMs by using the VISA Global Debit Card. The accountholder can also
use Debit Card at all VISA affiliated merchant establishments and ATMs
worldwide.
Phone Banking
Dial 24 hour Toll Free number 1800 116022 (North India) OR (Rest of India)
from anywhere and customer Care Officer will help instantly with all banking
requirements.
Net Banking
Just log on www.kotak.com to access Net banking facility. Take advantage of
the Internet to bank from home, office or anywhere in the world at a time of
convenience.
Page 78
Mobile Banking
Use this service to access bank account anywhere, anytime. It is quick and easy,
available to the accountholder 24X7 and it’s absolutely free. The accountholder
don’t have to pay any charge to avail this service. The account holder can use
Mobile Banking to check account balance, last 3 transactions details, issued
cheque status and request a cheque book. The customer can use Alerts Service
to get Alerts by SMS and/or email whenever the balance falls below the
Average Quarterly Balance or a Standing Instruction set by the account holder
fails.
Kotak Ace Savings Account
Features
Attractive Returns
Kotak Advantages
Ace Privileges
Convenience Banking.
Everyone needs a savings avenue that makes the most of their hard earned
money. Kotak Mahindra Bank offers the Kotak Ace savings Account, armed
with Kotak 2-Way Sweep and entire gamut of banking privileges and ‘user-
friendly’ Convenience Banking facilities. The feature rich Kotak Ace savings
Account is the ideal way to make money work harder
ATTRACTIVE RETURNS:
Kotak Ace savings Account combines liquidity of a savings account with the
attractive returns of a Term Deposits through the unique Kotak 2-Way Sweep.
Page 79
KOTAK ADVANTAGES
Ace savings Account comes with a host of advantages that are aimed at
providing superior banking experience.
Free Home Banking
For free cash/demand draft delivery, dial phone banking service and enjoy time
saving banking experience from the comfort of home or office. The customer
can also use the facility for free cash/cheque pickup.
Free At par Cheques
Kotak Mahindra Bank’s At-par cheques are treated as ‘local clearing’ cheques
across select locations in the country. The At-par cheque facility comes to the
customer free of charge. The customer can now save DD making charges while
enjoying the convenience of a cheque.
Free Demand Drafts
Avail Demand Drafts, free of cost, payable at any of the branch locations, just
by calling Phone Banking services. There is no limit to the number/value of
Demand Drafts drawn by the customer at these locations. What’s more, the
customer can avail free DDs up to a pre-specified limit, at non-branch locations
too.
Free Cheque Collections
Outstation cheques, drawn on any of the branch locations, would be collected
‘free of charge’ for the account holder. Only a nominal charge is levied for non-
branch location.
Free Electronic Fund Transfer
Transfer funds to third party accounts in other banks, without drawing a
Demand Draft or a cheque, by using Electronic Transfer facility. With this
Page 80
facility, the accountholder can save on Demand Draft making/couriering
charges and also transfer funds faster.
Free At-Home Services
This service enables the accountholder to make Utility Bill payments like
electricity, telephone and mobile phone bills and also get document delivery and
pickup from the bank.
ACE PRIVILAGES
Ace account has been designed with exclusive benefits that give an extra fillip
to banking.
Free Demat Account
As an Ace Savings Account customer, the accountholder can open a Demat
Account with Kotak bank free of charge. Even the annual charges towards the
Demat account are waived off.
Family Savings Account
Ace account allows extending the Kotak banking experience with 3 family
savings accounts. The family savings account comes with a host of benefits like
Kotak 2-Way Sweep, At-par Cheque facility and other attractive features.
Page 81
Free Trading Account
Kotak Ace savings account customer can avail a ‘free Trading account with
Kotak Securities, giving access to online trading through Kotaksecurities.com.
And with Payment Gateway facility, the accountholder can pay trading bills
online from bank account directly.
Free Investment Account
Avail a free investment account that provides a consolidated view of all the
investments. The Investment account statement gives a ‘single window view’ of
Mutual Fund portfolio, listing the NAV of each scheme invested into, current
consolidated value of portfolio, and realized/unrealized returns against each
investment made.
Personal Investment Advisor
To identify and analyze the specific investment requirements, KMBL provide a
dedicated Personal Investment Advisor. This person alerts the customer of
investment opportunities, sends regular updates and feedback on the
performance of the investments, helping for monitor, manage and grow wealth
in the ever fluid investment climate.
CONVENIENCE BANKING
A host of convenience banking facilities allows the accountholder to access
account anytime, anywhere.
Global Debit Card Free
Access the account free of cost at 1000+ Kotak Mahindra Bank and HDFC
Bank ATMs by using the VISA Global Debit Card. The accountholder can also
Page 82
use Debit Card at all VISA affiliated merchant establishments and ATMs
worldwide.
Phone Banking
Dial 24 hour Toll Free number 1800 116022 (North India) OR (Rest of India)
from anywhere and customer Care Officer will help instantly with all banking
requirements.
Net Banking
Just log on www.kotak.com to access Net banking facility. Take advantage of
the Internet to bank from home, office or anywhere in the world at a time of
convenience.
Mobile Banking
Use this service to access bank account anywhere, anytime. It is quick and easy,
available to the accountholder 24X7 and it’s absolutely free. The accountholder
don’t have to pay any charge to avail this service. The account holder can use
Mobile Banking to check account balance, last 3 transactions details, issued
cheque status and request a cheque book. The customer can use Alerts Service
to get Alerts by SMS and/or email whenever the balance falls below the
Average Quarterly Balance or a Standing Instruction set by the account holder
fails or the accountholder can even ask for account balance to be sent on a daily
basis or weekly basis.
Page 83
Different Current Accounts :-
FEATURES EDGE A/C PRO A/C ACE A/C
AQB 10000 20000 75000
Investment a/c Free Free Free
Add. Savings a/c Nil 1 a/c 3a/c
2-Way Sweep Above 20k Above40K Above150k
Home Banking Free Free Free
DD Charged Free up to Rs5
lacs p.a
Free up to Rs30
lacs p.a
Cheque CollectionsFree
Free Free
Statements Quarterly Quarterly Monthly
Convenience
Banking
Free Free Free
At par Cheque
Book
Free Free Free
ATM cum Debit
card
Free for 1st yr Free for 1st yr. Free for life
Daily cash Limit 25K 25K 75K
Daily POS Limit 25K 25K 50K
Own/HDFC ATM’s Free Free Free
Visa Domestic
ATM
Charged Free Free
Visa International
ATM
Charged Charged Free
Page 84
FEATURES EDGE A/C PRO A/C ACE A/C
AQB 10000 20000 75000
Investment a/c Free Free Free
Add. Savings a/c Nil 1 a/c 3a/c
2-Way Sweep Above 20k Above40K Above150k
Home Banking Free Free Free
DD Charged Free up to Rs 5 lacs
p.a
Free up to Rs 30 lacs
p.a
Cheque CollectionsFree
Free Free
Statements Quarterly Quarterly Monthly
Convenience
Banking
Free Free Free
At par Cheque Book Free Free Free
ATM cum Debit card Free for 1st yr Free for 1st yr. Free for life
Daily cash Limit 25K 25K 75K
Daily POS Limit 25K 25K 50K
Own/HDFC ATM’s Free Free Free
Visa Domestic ATM Charged Free Free
Visa International
ATM
Charged Charged Free
Different Savings Account
Procedure Adopted for Opening the Account
Page 85
Negative
Page 86
Call up the prospective customer
Visit to the prospective customer
Collect the necessary documents
Sales department check the documentsCollection of further required documents
Customer Interested
Customer Convinced And Applies
Documents Sent
to Sales. Dept.
Deviations
Deviations sent to the sales .Dept.
Verification of Documents by Bank File Rejected
CASE
STUDY
CRM is a well defined series of functions, skills, processes and technologies which
Together allows companies to more profitably manage customers as "TANGIBLE
Page 87
ASSETS “The emphasis here is on defining customers as valuable in the long run
& on viewing customer relationship as learning relationship.
CRM focuses on improving customer relationship by improving the area of sales, marketing, customer service & support. But the means to achieve this is through appropriate system or through better technologies. The ultimate aim is to improve customer satisfaction & achieve higher revenue & profitability, but keeping selling costs lower.
Kotak Mahindra is one of India's leading financial institutions, offering diverse finance solutions, that encompass every sphere of life. From Corporate Finance, to Retail Finance to Investment Banking, to Mutual Fund, to Life Insurance, they meet the everyday financial needs of an individual as well as a corporate giant.
Kotak Mahindra has international partnerships with Goldman Sachs (one of the world's largest investment banks and brokerage firms), Ford Credit (one of the world's largest dedicated automobile financiers) and Old Mutual (a large insurance, banking and asset management conglomerate). The Group operates in over 50 cities in India and the USA, UK and UAE, employing over 1100 dedicated professionals and services a client base of over a half million customers
To offer prompt and efficient service to it's clients, the Group has been structured into three SBUs of Wealth Management, Knowledge Management and Asset Management. Through 8 companies created for the purpose of the above, Kotak Mahindra has operations in the areas of Retail Broking, Mutual Funds, Investment Banking , Debt Trading, Auto Finance, Corporate & Technology Finance and Consumer Finance to name a few.
Kotak Mahindra Finance Ltd. (KMFL) would be shortly converting itself into a Commercial Bank bringing all its operations under a single head. The new Bank is due to be launched by the last quarter of the current fiscal, and is expected to offer a wide range of services to retail and corporate customers across India.
As part of its IT strategy, one of Kotak Mahindra's early initiatives was to combine the various customer databases across the various companies into a single central repository containing unique individuals and other business and family relationships. The Data server was on an Oracle/Unix Platform. In order to gain an early advantage the Group needed to meet critical time-frames.
Page 88
Q1. WHAT ARE THE STEPS TAKEN INDIA ‘S ONE OF THE LEADING FINANCIAL INSTITUTION IN ORDER TO DEVELOP HEALTY RELATIONSHIP WITH ITS CUSTOMERS?Q2.WHAT ARE THE STEPS TAKEN BY THIS FINANCIAL INSTITUTION IN ORDER TO INDENTIFY HIN CUSTOMERS?
ANSWERS:-CONSUMER RELATIONSHIP MANAGEMENT:-
SYNOPSIS
This case study basically deals with two main factors which are as
follows
1. about crm
2. How Kotak Mahindra bank adopted different ways in order to
attain crm
Answers
Page 89
(ANS1)
The relationship with customer should be based on mutually beneficial relationship. A
bank should not concentrate its attention towards earning of profits only but focus
should be directed to the customers’ wealth creation or value enhancement with the
motto of earning through service and India, being a poor country, it is a matter of
realisation that the bottom 75 per cent of the consumer pyramid basically relates to the
retail sector customers, and if one is looking at a growth opportunity, it must focus its
attention with tailormade products and services to meet their needs. Banking is no
exception to this reality.
The main thrust of CRM is to improve an organisation’s efficiency, economy and
effectiveness through reduction of sales cycle times and selling costs, identification of
new markets and channels for expansion, improvement of customer value, satisfaction,
retention and thereby increasing profitability and market share of the enterprise.
Successful CRM focuses on understanding the needs and desires of the customers and is
achieved by placing these needs at the heart of thebusiness by integrating them with the
organisation’s strategy, people, technology and business processes. (Heygate, 1999).
There must be total commitment for the enterprise towards this end.
KOTAK MAHINDRA BANK AIMED AT ACHIVING AT CRM AND FOR THIS IT
JOINED HANDS WITH ZENSAR TECHNOLOGIES.
Zensar Technologies, a leading global IT and BPO services provider, today announced a centralized customer relationship management centre for Kotak Mahindra Bank, one of India's most reputed financial organizations. With an aim to creating a differentiated customer service and experience in the currently cluttered credit cards market, Kotak Mahindra Bank has decided to invest in building a specialized centre for CRM with Zensar for its credit card business.Dr Ganesh Natarajan, Deputy Chairman and MD, Zensar and Chairman NASSCOM at the occasion said, "This partnership with Kotak is a strategic one for Zensar and we look forward to a significant scale up of this business to a 500 seat centre in the near future. This is the first engagement in the domestic market for our BPO business, reiterating our focus and belief in India as a market."The centre located at Zensar's Pune campus would cater to activities such as customer acquisition, customer service, collections and retention for Kotak's recently launched credit card product range. The operation commenced with 20 associates in April 2008, and has been scaled up to over 250 associates today. This centre will support Kotak cards' business in ten cities across India with focus on customer experience as one of the key differentiators.Subrat Pani, Business Head, Credit Cards, Kotak Mahindra Bank said, "With our suite of Simple & Powerful credit cards, we aim to make a difference in the aspirational Indian customer's life. We as the credit cards industry have to do a lot to make it easier
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for customers to understand and use credit cards, and above all keep the cardholders happy. The set of people, processes and innovative technologies that we are working with at Zensar is aimed at creating that enhanced customer experience that we look forward to deliver consistently to our cardholders".Kotak Credit Cards is the newest addition to the wide array of financial services offerings of the Kotak Group. The card range on offer includes 2 Visa Gold Cards, a Visa Platinum Card and a Visa Signature Card. Kotak cards has taken a fresh approach on card design, and has introduced India's 1st vertical card. With the CRM centre with Zensar, Kotak Cards is demonstrating its fresh approach to enhanced customer experience in the credit cards industry.Hiren Kulkarni, Head of Zensar's BPO said, "Zensar and Kotak are now looking at jointly addressing requirements of business continuity by setting up a 100 seater functional centre in Zensar's Hyderabad facility. This facility will also address the Southern India market of Bengalooru, Hyderabad, Chennai and Coimbatore."Plans have been chalked out to establish dedicated communication infrastructure that will connect Kotak and Zensar's data centre to host systems specific to Kotak's business requirements. This is the first domestic account for Zensar in the BPO space exhibiting immense growth opportunities for the Company. The success of this Kotak-Zensar association will go into determining the future for Indian Financial Services and outsourcing industry.
(ANS2)
Kotak Mahindra is one of India's leading financial institutions, offering
diverse finance solutions, that encompass every sphere of life. From
Corporate Finance, to Retail Finance to Investment Banking, to Mutual
Fund, to Life Insurance, they meet the everyday financial needs of an
individual as well as a corporate giant.
As part of its IT strategy, one of Kotak Mahindra's early initiatives was to
combine the various customer databases across the various companies into
a single central repository containing unique individuals and other business
and family relationships. The Data server was on an Oracle/Unix Platform.
In order to gain an early advantage the Group needed to meet critical time-
frames.
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THESE ARE THE FOLLOWING CHALLENGES
To identify and extract relevant data from as many as 8 host systems
To be able to get from the IT managers in each of the 8 companies, the various non-address static information regarding the data.
To understand and solve the anomalies represented by this data in the short available time
To generate a single database consisting of cleansed, deduped and enriched data consisting of unique corporate and individual customers.
To map and combine entire data (address and non-address) across the various systems into a single system.
THE SOLUTION
Kotak Mahindra used Spectrum Business Support Limited's expertise in understanding data-related issues, anomalies and exceptions in the data and resolving them. Spectrum Business Support Limited provided its considerable experience and knowledge of working with data related issues to identify problem sources and fixes.
Spectrum's DataFIX tools were used to cleanse, standardize and dedupe the data of over 1 million in a short span of 25 days, and to provide a unique base of Individuals and Households. The data covered more than 25 metros and mini-metros including some from rural India as well. Customised rules were generated and provided for the various types of data - depending on customer type (Corporate or Individual), customer location and customer address. Spectrum leveraged the full power of its automated routines, data-sensitised manpower, comprehensive master tables and experience in the financial domain to undertake this task as a time-critical mission.
In addition to a one-time legacy Deduplication this project involved Spectrum conducting an incremental deduplication (matching new records added in the interim while the cleansing process was going on, with the already matched data).
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In addition to name and address information, Spectrum also cleansed a lot of non-address information like marital status, date of birth etc. Finally Spectrum undertook the task of integrating the data across the various source systems using mapping tables and a thorough understanding of the data elements and data ranges in each of the individual systems.
At the end of the day, Kotak Mahindra was a satisfied and happy
customer having met its goal on time.
CONCLUSION:-THUS WE CAN SAY THAT NOW MODERN BANKS ARE DEVELOPING DIFFERENT WAYS AND TECHNOLOGIES FOR ATTANING CONSUMER RELATIONSHIP AND TO MANAGE IT AS WELL FOR ITS SUSTAINENCE IN THE MODER MARKET.
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SWOT ANALYSIS
SWOT ANALYSIS OF KMB
Strengths:
Very fast growing bank of Patna as well as of India.
Track record of high growth and profitability.
Strong financial background.
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One of the biggest financial institutions before converting into bank.
Long experience of banking that is why it is called 25 years old new
bank.
Latest technology used by the bank.
Free Home Banking transaction facility.
Very good database maintained by the bank, i.e., Banking Customer
Information Database.
Weaknesses:
Low brand image.
High average quarterly balance to be maintained by the costumer.
Lack of coordination between different departments.
Lack of costumer awareness regarding services and bank because of low
advertising.
Opportunities:
Opportunities of entering into major cities of Patna.
Scope of more ATM networks.
Opportunities to increase its customer base in liabilities section by
marketing their products on local television channels, canopy, hoardings.
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Threats:
Threats from nationalized banks.
Threats from private bank like ICICI, UTI, HDFC because these banks
open both savings and current account at a very nominal amount with
somewhat similar services
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RESEARCH
METHODOLOGY
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Title of the Study:
“CUSTOMER RELATION SHIP MANAGEMENT IN INDIAN RETAIL BANKING”
Objective:
To understand the Indian Banking System.
To understand the retail trends followed by the modern retail Banks. To
understand the banking relationship of organizations with their existing
banker.
Product Innovation for them.
To generate the business by generating leads.
Type of research:
Research design Descriptive
Sample size : 100 customers
Method of selecting sample :
Questionnaire:
The data was collected through questionnaire, in which different question were asked
Scope of study:
My study will help to understanding the Indian banking system as well as to identify the existing bank “Market reputation”
My study will provide information about general practices adopted by the various bank in order to carry their customers in the area of retail banking business.
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. Limitations of the study:
Due to time constraint, the research was confined to Udaipur only
Sample size is very small.
Some of the respondents shows biasness and gave wrong information.
Some of the respondents do not cooperate and are not interested in
answering.
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CONCLUSION
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CONCLUSION Limitations of Retail BankingThe bank into retailing will have to face following bottlenecks in its operations
Huge sales and promotion expenditure Managing human resources Managing technology Pressure on margins Continuous follow-up Attitude hurdles Security problems
Huge Sales and Promotion Expenditure
In order to survive in the world of fierce competition with so many players, each bank has to incur huge amount of funds on sales and promotion. No bank can deny this expenditure because they need to build their image among the customers, to get business.
Managing Human Resources
Retail banking caters to the need of individual customers. For this purpose qualified and trained staff is needed to be maintained. For training those employees, banks spend a huge amount of money. Sometimes these trained personnel leave the job halfway which increases the expenditure of the bank. Apart from this banks also have to maintain various cells regarding customer grievance, employee grievance, etc. which again increases the expenditure of the bank.
Managing TechnologyTechnology plays an important role in retail banking. Today majority of transactions in banks are done through ATMs, Mobile banking, Phone banking, Internet banking. For this purpose it is necessary effective and efficient management of technology. Maintaining technology incurs huge expenditure, which sometimes create problem for the banks to accumulate funds for these purposes.
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Pressures on MarginTo retain the existing customer base as well as to expand, the banks are pressurized to keep the minimum prices possible. Thus the banks have huge pressures on their margins.Continuous Follow-upIn order to earn more profit banks are going for mass banking. But in this race the maintenance of the customer base becomes very difficult. The problems like NPA’s and delay in payment of usage changes occur which leads to losses for the banks. Thus the banks have to maintain continuous follow-up programs, which require efficient technology, human resources as well as surplus funds to control expenditure on such programs.
Attitude HurdlesEarlier the major players in the banking industry were public sector banks. But due to the advent of liberalization and globalization, private and foreign sectors banks have come up which has resulted into a drastic change in the Indian Banking scenario. With these banks the latest technology has also come up. But still a huge chunk of people does not avail itself with the benefits. People still prefer going to banks and carry out the regular paper work when then same thing can be done very easily through their mobile phones and internet. Thus people from rural areas should be given proper information and should be educated and their attitude needs to be changed, since it is a major hurdle for the growth of the retail banking products.
Security ProblemsRetail banking products like net banking, phone and mobile banking and ATMs are solely dependent on technology. If there is any problem in the network or a system as a whole, it would result into huge losses for the banks as well as their customers. Therefore proper security measures should be in place to secure customers’ date and identification codes.
“This study has helped me to know the whole functioning of one of the major pillars of our economy which is Banks. With the Advent of Globalization and Liberalization new ways to improve customer relationship have emerged in front of the banks. These new ideas will help them in acquiring new customers and maintaining the existing customer base. One of the new fast emerging tools with banks to improve up on customer retention and satisfaction is Retail Banking and by adopting this many banks have achieved growth in their business like never before”
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Suggestions
&
Recommandations
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SUGGESTIONS & RECOMMENDATIONS
Kotak Mahindra Bank should chalk out some programs to create general
awareness regarding its presence and various services of the bank. More
attention is required in distant located firms and caters the needs of those
commercial areas.
Personal Marketing / Aggressive Marketing: Today is the era of
competition. In order to increase the banking network (in terms of clients
and business volume) an aggressive approach is required. The bank
should recruit more number of marketing personnel, so that they can
cover the whole of the city. Personal marketing can be one of the methods
or modes of taking people into confidence.
Promotional campaign: - In the era of such stringent competitiveness
one has to take care of promotional activities.
It can be done in following ways:
Promotion Through Customers :
Through motivating the existing customers to get more business can be
one of the modes to have greater access or approachability. The
motivation to the customers can be through gifts or through any
memento.
Reference Selling :
Few of the Bank’s existing customers specially esteemed ones can be
asked to give references about relatives/ friends or any acquaintance that
they consider potential customer. Thus the business volume can be
increased.
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Advertising: - Initially when we took our work we found that general
awareness amongst people regarding KMBL Bank was very low. The bank
should instead of being centrally advertised, try to advertise locally. This can
be done in following ways: -
Public welfare banners: - An excellent way to advertise which can
be done through tree guards having KMBL Bank’s name.
Traffic posts especially at commercial locations can have boards of
Bank.
One or two Neon boards can be put at the center places of Udaipur.
Ad Campaign through FM, Radio, Hoardings, and Television
The bank should come up with more branches in other major cities of Rajasthan
The bank should open more ATM networks.
There should be Education training programmes for Sales Executives by
KMBL.
Processing time of opening an account should be reduced.
Introduction of HR practices
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ANNEXURE
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Questionnaire
Name: _______________________________________
Nature of Occupation
(a) Salaried [ ]
Government Semi-govt. Private
(b) Self-Employed [ ]
Lawyer Doctor Engineer
Architect Builder Consultant
Exporter Importer Jeweler
Others, Please specify_____________
Q1. In which bank you are operating your savings account?
____________________________________
Q2. In which bank you are operating your current account?
________________________________________
Q3. How much minimum balance or average quarterly balance you have to
maintain in your account?
Savings Account _________________
Current Account _________________
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Q4.Why has you chosen this bank?
Past Relationship Brand name
Near to home/office Others, Please specify_______
Q5. Are you satisfied with the services provided by your bank?
Yes No
(i) If yes, then
What core benefits you are availing from your bank?
Home Banking (Free/ charged)
Net Banking (Free/ charged)
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Phone Banking (Free/ charged)
At-par cheque Book (Free/ charged)
Global Debit Card (Free/ charged)
Demand Draft (Free/ charged)
Auto Sweep FD (Free/ charged)
24 hrs ATM (Free/ charged)
Investment a/c (Free/ charged)
Additional savings a/c (Free/ charged)
Others, please specify ______________________________
(ii) If No, then why?
___________________________________________________
Q6. What exactly you are looking for in your bank? Please write your
expectations.
_____________________________________________________________________
________________________________________________________
Address: ______________________ Phone No: ___________
______________________
______________________
______________________
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Questionnaire
1) Name of the Organization:
2) Address:
________________________________________________________
_______________________________________________________________
_______________________________________________________________
3) Telephone Number
4) Name of Contact person:
5) About Organization:
______________________________________________
_______________________________________________________________
6) In which bank do you have an account and what is the nature of the
account?
_____________________________________________________________
7) What are the reasons you have relationship with these banks?
Safety ٱ
Past relationship ٱ
Proximity ٱ
others ٱ
8) Which of the following facilities does your bank provide you and which
one does
You use?
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Facility Provides Use Frequency
Branch Banking
Internet Banking
Phone Banking
Home Banking
ATM
9) Are you aware of the following services provided by banks?
10) Do you have an FCRA account & where?
___________________________________________________________
11) What are the various sources of funds, their frequency and form of
receipts?
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Facility Aware Availed
Auto sweep into FD
At par cheques
Credit Cards
Investment Advisory
Source Response in numbers
INDIA
ABROAD
Form of receipt Response in numbers
Demand Draft
Cash
Cheque
Other
12) Could you specify the areas from which the majority of your funds come?
Within City ٱ
Within Rajasthan ٱ
All Over India ٱ
abroad ٱ
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Amount Response in
numbers
Below 10 Lacks
11–30 Lacks
31–50 Lacks
51–70 Lacks
71 Lacks and above
13) What are the major payments you make and in what form they are made?
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Payments Response in Numbers
Cash Cheque Draft Other
Administrative
Salary
Fund Raising
Project Expenses
Bibliography
Bibliography
1. AMIT K SINHA, “SALES DPARTMENT MANAGER”KOTAK MAHINDRA BANK, PATNA
2. LITRATURE PROVIDED BT THE COMPANY
3. WWW.KOTAK.COM
4. WWW.GOOGLE.COM
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