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Customer Satisfaction in Hdfc Bank

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-693420-434340 Summer Internship Project Report On ‘Customer Satisfaction in HDFC Bank’ Submitted in Partial Fulfillment of PGDM- Batch 2017-19 Under the guidance of – Faculty Guide: Submitted by: Prof.Anindita Sharma Suguna Soumya Associate Professor Roll No: 2017046 JSB, Ghaziabad Industry Guide: Sanjay Kumar Saini Branch Manager HDFC Bank Chapter No Description Page No. Title Page 1 Acknowledgement 4 Preface 5 Executive Summary 6 1 Introduction to the project 1.1 Introduction 1.2 Scope 1.3 Objective 7-9 2 Literature Review 10-13 3 Company Profile 3.1 HDFC Bank Profile 3.2 Key Executive 3.3 Technology used in HDFC Bank 3.4 Product and Customer Segments 3.5 Marketing Strategy of HDFC Bank 3.6Marketing Mix of HDFC Bank 3.7 SWOT analysis of HDFC Bank 14-28 4 Topic Profile 4.1 Introduction to the topic 4.2 Introduction to banking 4.3 History of banking in India 4.4Banking structure in India 29-36 5 Research Methodology 5.1 Research Methodology 5.2 Research Design 5.3 Data Collection 37-39 6 Data Analysis and Interpretation 40-59 7 Findings and Conclusion 7.1 Findings 7.2 Suggestions and Recommendations 7.3 Limitations 7.4 Conclusion 60-64 References 65 Annexure-1 66-69 ACKNOWLEDGEMENT I take this opportunity to express my deep sense of gratitude, thanks and regards towards all of those who have directly or indirectly helped me in the successful completion of this project. I present my sincere thanks to my industry mentor Mr.Sanjay Kumar Saini, who provided me with a wonderful opportunity to do my summer internship project at HDFC Bank. I would like to thank the whole staff at HDFC Bank for their support and guidance. I also thank my faculty guide Dr.Anindita Sharma, JSB Ghaziabad who has sincerely supported me with valuable insights into the completion of this project. I’m grateful to all the faculty members of JSB Ghaziabad and my friends who have helped me in the successful completion of this project.

Last but not the least I’m indebted to my parents who provided me their time, support and inspiration needed to prepare this report. Suguna Soumya (PGDM 2017-2019) PREFACE The summer Internship Project is an integral part of the course curriculum of PGDM. The topic given to me was ‘customer satisfaction’ in HDFC Bank The project has been conducted at HDFC Bank at multiple branches. A short training of 2 days was provided by the HDFC Bank to all the interns. The training involved teaching the interns basics of banking, company profile of HDFC Bank and its products.. After that a survey was conducted targeting HDFC Bank customers.

The respondents were contacted through a survey with the help of a questionnaire and convenience sampling was used. The aim to perform this survey is to find out the satisfaction level of customers at HDFC Bank and to collect their feedback. The primary data for the project report was obtained from the questionnaire and the secondary data was collected from various websites, books and articles published in newspapers. EXECUTIVE SUMMARY The project is on “Customer satisfaction towards HDFC Bank”.

I was assigned HDFC Bank Preet Vihar branch to do my research project. The main objective of my research project was to find out the satisfaction level of HDFC Bank customers and also to collect their feedback regarding the bank. I was required to do a research project to study customer satisfaction level of HDFC Bank customers by conducting a survey and I had to analyze the data and give appropriate findings and suggestions. The report will give you a brief about the research methodology, which I was supposed to use in the study. You will also get information about HDFC Bank and its products.

You will get a brief overview of banking and apart from this you will come to know about the research methodology used, analyzed and interpreted the collected data. I hope that you will find this report interesting and informative. CHAPTER-1 Introduction to the project Introduction to the project Scope of the project Objective of the project INTRODUCTION TO THE PROJECT The report contains the research study done at HDFC Bank. The report title is ‘Customer Satisfaction towards HDFC banking Services”.

The report gives an overview of the company profile, banking industry, literature review on customer satisfaction and customer satisfaction towards HDFC bank. The methodology used for the study was through convenience sampling, which is targeted for the different customers of HDFC Bank at different branches. To do this research project, survey of 50 respondents was taken. The result from the data has been thoroughly analyzed and interpreted to give proper findings and suggestions. HDFC is among the top private bank in India, it could however increase its brand value by using proper advertising tools to increase its brand value and create more brand awareness.

SCOPE OF THE PROJECT A study on customer satisfaction level was conducted regarding various services provided by the HDFC bank and the customer’s perception towards it. The HDFC bank provides various financial products and services to their customers. The purpose of this study is to derive the satisfaction level of the customer towards the services provided by the HDFC bank. The research shows the data analysis of the research conducted which will be helpful for further development and growth of the company. This research focuses on the level of customer satisfaction obtained from using various banking products and services of HDFC bank. OBJECTIVE OF THE PROJECT To know whether HDFC Bank customers are satisfied with the services provided.

To know the interest level of HDFC Bank customers To know the major problems incurred by HDFC Bank customers. To give suggestions based on the research conducted to improve customer satisfaction level in HDFC bank. CHAPTER-2 Literature Review LITERATURE REVIEW Bahia, K and J Nantel (2000) The paper suggested an alternative scale for measuring service quality in retail banking. The study developed a scale called as Banking Service Quality Scale which contained factors like effectiveness and assurance, access, price, tangibles, service portfolio and reliability. This model was found to be more reliable than SERVQUAL Jamal, A., Naser, K., (2002) The study examined key drivers of customer satisfaction using 167 customers and it was found that core and relational performances had impact on customer satisfaction and there was negative relationship between customer expertise and customer satisfaction. Sureshchandar et al(2002) The study examined relationship between service quality and customer satisfaction in Indian banking sector.

These were found to be independent but closely related. Both constructs vary significantly in core services ,human element, systematization of service delivery, tangibles and social responsibility. Mahadevan, S et al. (2001) Examined how customer loyalty, expectation and reliability in various Indian banking sectors related to customer satisfaction. It revealed that public expectation from banking sector and consequential demands on banks especially at operating levels have been growing. The findings of the study were based on nine dimensions of quality which includes reliability, response, reputations, durability etc.

On the basis of the results of the study they developed a customer satisfaction model which highlighted the need of training of employees so that they can give the best possible service. James F. Devlin (2003) Conducted a study with an objective to provide an insight into some factors which explain why customers in the retail banking sector might consider switching from traditional methods of conducting their banking activities to internet banking either partially or fully. An important finding was that the level of bank charges and level of over draft interest rates were not significant in motivating individuals to internet banking. It also revealed that the level of satisfaction with elements of the existing retail banking services have a significant impact on their propensity to use internet banking. It also found that a high level of satisfaction with in – branch service is associated with a lower propensity to switch to internet banking.

Gani A,Mushtaq Bhatt(2003) The study is conducted to do a comparative study of service quality of commercial banks and its dimensions in commercial banks. SERVQUAL is used and sample size was 800 customers. The study found out that CITI bank and Standard chartered bank are good in tangibility and in reliability also they are good. In responsiveness parameter Indian banks are inferior to foreign banks.

In Assurance and empathy Indian banks are inferior Parimal Vyas (2004) The empirical study conducted by Vyas, Parimal (2004) – tried to measure customer satisfaction considering the prevalent state of IT adoption among selected branches of nationalized, private, co-operative and foreign banks located at Baroda. The total sample size of the study was 12 1 customers of above categories of banks. The major finding of the study was that there were effective implementations of e-banking services in case of private banks and foreign banks where as nationalized banks were found to have lesser degree of computerization. It also revealed the fact that, without IT the banking sector would not be able to serve the changing needs of the market. Murgesan Selvam (2005) Conducted a study titled ‘Customer satisfaction of banking service an overview’ to assess the measurement criteria and to evaluate customer satisfaction of banking services.

The study selected 50 customers via, quota sampling method from five branches of 42 banks operating in the Tiruchirappalli city. One of the finding of the study is that the ATM facility is contributed relatively maximum to the ultimate satisfaction. The study revealed that technology adaptation process is slow in banks of that area. Navdeep Aggarwal and Mohit Gupta (2003) This study basically finds out the primary dimensions and sub dimensions of service quality. Informal structured interviews are conducted with branch managers and academicians to formulate a banking service quality model. The study found out that service time and personal interactions are very important along with ambience for service quality.

Arora S (2005) This study analysed factors influencing customer satisfaction in public sector, private sector and foreign banks in northern India. 300 customers were given questionnaires which reveled that significant differences exist in customer satisfaction level of customers in each group of banks regarding routine operation and situational and interactive factors. Foreign banks were found to be the leaders in mechanization and automation Vaniranjan (2006) This study examined the impact of service quality dimensions on customer satisfaction. It revealed that the important services offered by banks are traditional services, non-traditional services, tangibles, reliability, responsiveness, assurance and empathy. It also found that reliability and non-traditional services affect more on the customer satisfaction level. The study concluded that the private sector banks and associates of State Bank of India are better in providing services to the customers than the nationalist banks and co-operative banks.

P K Gupta(2008) Objective of this study was to find out the behavior of customers with respect to internet banking vis-à-vis conventional banking. The study found out that internet banking was found to be easier and speedier than conventional banking and trust, accuracy and confidentiality were the most important factors here. CHAPTER-3 Company Profile HDFC Bank Profile Key Executives Technology used in HDFC Bank Product and Customer Segments Marketing Strategy of HDFC Bank Marketing Mix of HDFC Bank SWOT Analysis of HDFC Bank COMPANY PROFILE The Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive an ‘in principle’ approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as part of the RBI’s liberalization of the Indian Banking Industry in 1994. The bank was incorporated in August 1994 in the name of ‘HDFC Bank Limited’, with its registered office in Mumbai, India.

HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995. HDFC is India’s premier housing finance company and enjoys an impeccable track record in India as well as in international markets. Since its inception in 1977, the Corporation has maintained a Consistent and healthy growth in its operations to remain the market leader in mortgages. Its outstanding loan portfolio covers well over a million dwelling units.

HDFC has developed significant expertise in retail mortgage loans to different market segments and also has a large corporate client base for its housing related credit facilities. With its experience in the financial markets, a strong market reputation, large shareholder base and unique consumer franchise, HDFC was ideally positioned to promote a bank in the Indian environment. HDFC Bank began operations in 1995 with a simple mission to be a “World Class Indian Bank.” It realized that only a single minded focus on product quality and service excellence would help us get there. Today, the Bank is proud to say that it is well on its way towards that goal. Strong national network HDFC bank ltd provides various financial products and services. It operates in three segments: Retail Banking, Wholesale Banking, and Treasury.

The Retail banking segment provides various deposit products, including savings Accounts, current accounts, fixed deposits, and demat accounts. It also offers Auto, personal, commercial vehicle, home, gold, and educational loans; loans Against securities and property and health care finance Working capital finance, construction equipment finance, and warehouse Receipt loans, as well as credit cards, debit cards, depository, investment Advisory, bill payments, and transactional services. In addition, this segment Sells third party financial products, such as mutual funds and insurance, as Well as distributes life and general insurance products through its tie-ups with insurance companies and mutual fund houses. The wholesale banking Segment provides loans, non-fund facilities, and transaction services to large Corporate, emerging corporate, small and medium enterprise, supply chain, Public sector undertaking, central and state government departments, and Institutional customers. It offers deposit and transaction banking products, Supply chain financing, working capital and term finance, agricultural loans, and funded non-funded treasury, and foreign exchange products.  This segment’s services include trade services, cash management, and money Market, custodial, tax collection, and electronic banking.

In addition, it provides correspondent bank services to co-operative banks, private banks, foreign banks, and regional rural banks. The Treasury Services segment operates primarily in areas, such as foreign exchange, money market, interest rate trading, and Equities. The company was founded in Mumbai, India. As of March 31, 2018, the Bank’s distribution network was at 4,787 branches across 2,691 cities. All branches are linked online on a real-time basis.

Customers across India are also serviced through multiple delivery channels such as Phone Banking, Net Banking, Mobile Banking, and SMS based banking. The Bank’s expansion plans take into account the need to have a presence in all major industrial and commercial centers, where its corporate customers are located, as well as the need to build a strong retail customer base for both deposits and loan products. Being a clearing / settlement bank to various leading stock exchanges, the Bank has branches in centers where the NSE / BSE have a strong and active member base. The Bank also has a network of 12,635 ATMs across India. HDFC Bank’s ATM network can be accessed by all domestic and international Visa / MasterCard, Visa Electron / Maestro, Plus / Cirrus and American Express Credit / Charge cardholders.

KEY EXECUTIVES Senior Management Team Aditya Puri Managing Director Paresh Sukthankar Deputy Managing Director Kaizad Bharucha Executive Director Abhay Aima Group Head – Equities, Private Banking, Third Party Products, NRI & International Consumer Business Arvind Kapil Group Head – Unsecured Loans, Home, and Mortgage Loans Ashima Bhat Group Head – Finance, Administration & Infrastructure Ashish Parthasarthy Treasurer Ashok Khanna Group Head- Vehicle Loans Bhavesh Zaveri Country Head – Wholesale Banking Operations and Cash Management Products Chakrapani V Country Head -Internal Audit and Chief of Internal Vigilance Jimmy Tata Chief Risk Officer Munish Mittal Chief Information Officer Navin Puri Country Head – Branch Banking Neil Francisco Group Head – Underwriting and Risk Intelligence and Control Nirav Shah Country Head – Emerging Corporates Group, Infrastructure Finance Group & Rural Banking Group Nitin Chugh Country Head – Digital Banking Parag Rao Country Head – Card Payment Products, Merchant Acquiring Services and Marketing Philip Mathew Chief People Officer Rajesh Kumar Group Head, Co-Head – Retail Risk Rakesh Singh Group Head – Investment Banking, Private Banking, Capital Markets and Financial Institutions Ravi Narayanan Country Head – Branch Banking & Retail Trade Forex Rahul Shukla Group Head – Corporate Banking & Business Banking at HDFC Bank TECHNOLOGY USED IN HDFC BANK HDFC Bank operates in a highly automated environment in terms of information technology and communication systems. All the bank’s branches have online connectivity, which enables the bank to offer speedy funds transfer facilities to its customers. Multi-branch access is also provided to retail customers through the branch network and Automated Teller Machines (ATMs).The Bank has made substantial efforts and investments in acquiring the best technology available internationally, to build the infrastructure for a world class bank. In terms of core banking software, the Corporate Banking business is supported by Flexcube, while the Retail Banking business by Finware, both from i-flex Solutions Ltd.

The systems are open, scaleable and web-enabled. The Bank has prioritised its engagement in technology and the internet as one of its key goals and has already made significant progress in web-enabling its core businesses. In each of its businesses, the Bank has succeeded in leveraging its market position, expertise and technology to create a competitive advantage and build market share. Network Based on the bank’s hub & spoke architecture for the network, the branches are distributed under different regions and each major location has a regional hub.

The branches falling under a location connect to the hub at the main region. These hubs then connect to the central site (data center) using a combination of 2 Mbps and 64 Kbps pipes, depending on the total volume of the transactions that pass through. C.N. Ram, Head-Information Technology, HDFC Bank says, “Each branch is connected to their regional hub, as to connect every branch directly to the data center involves huge costs. This kind of architecture helps save cost.” A highlight of HDFC Bank’s network is the presence of two or more hubs in one location.

“To balance the load and reduce the dependency on a single line, the bank has two hub locations within a region to share the load. The branches are split between the two hubs, so that one hub failure does not incapacitate all the branches in that region,” explained C.N. Ram. A step ahead In the coming years HDFC Bank plans to deploy connections, with built-in redundancy in the network. For example, Madras could be connected to Bangalore and Kolkata, with all three of them being connected to Chandivili.

Therefore, if the Kolkata-Chandivili link fails, then Kolkata will use the Madras link to connect to the Chandivili data center. The bank is also considering alternate connectivity solutions as VSATs are relatively more expensive, and in remote areas it is difficult to set up the required infrastructure. The bank has tested CDMA and GSM solutions—especially for ATMs as they consume very small bandwidths. The bank’s servers have also undergone phases of development in line with the bank’s expansion plans. Storage The bank currently deploys SAN but feels they will need to consider NAS sometime in the future. According to C.

N. Ram the bank’s storage requirement is growing at a rate of four to five percent every month. With an increase in data volume, the capacity of the hardware also needs to be updated. This calls for huge investments as all areas like backup, disaster recovery and others need to be addressed. The bank has to store data for seven years as per the RBI guidelines, and as it is not necessary to store the data on-line—the bank uses tapes for off-line storage. The bank anticipates storage costs to come down, and bulk purchases would be economical.

PRODUCT AND CUSTOMER SEGMENTS HDFC Bank offers a wide range of commercial and transactional banking services and treasury products to wholesale and retail customers. The bank has three key business segments: Wholesale Banking Services – The Bank’s target market ranges from large, blue–chip manufacturing companies in the Indian corporate to small & mid–sized corporates and agro–based businesses. Retail Banking Services – The objective of the Retail Bank is to provide its target market customers a full range of financial products and banking services, giving the customer a one–stop window for all his/her banking requirements. Treasury – Within this business, the bank has three main product areas – Foreign Exchange and Derivatives, Local Currency Money Market & Debt Securities, and Equities. The Treasury business is responsible for managing the returns and market risk on this investment portfolio. HDFC Securities (HSL) and HDB Financial Services (HDBFSL) are its subsidiaries.

Services offered by the company: Personal Banking Accounts & Deposits Loans Cards Forex Investments & Insurance NRI Banking Accounts & Deposits Remittances Investments & Insurance Loans  Payment Services Wholesale Banking Corporate Small & Medium Enterprises Financial Institutions & Trusts Government Sector MARKETING STRATEGY OF HDFC BANK As a part of liberalizing the Banking industry Housing Development Finance Corporation Limited (HDFC) was given in-principle approval by Reserve Bank of India in 1994 and later on, it commenced its operations as a scheduled commercial Bank in 1995. The Bank has build core banking infrastructure which is supported by Flexcube for corporate banking business and i-flex solutions Ltd. for Retail Banking business. For catering to the needs of High net worth Individuals, the Bank has preferred program as HDFC Bank Plus. Wealth management investment advisory services cater to the distinct financial needs and investment avenues along with advisory services.

Segmentation, targeting, positioning in of HDFC Bank HDFC has segmented the customers on the basis of income group like formulating the structure of Classic, preferred and imperial and also using customer financial needs to segment the market like those of in need of general banking services (Retail & corporate banking) and those customers who are HNI’s and are in need on investment advisory services. Bank has the majority of its customer base who are tech-savvy, Young and are more inclined to products coupled with technology. Product & services offered by the company are targeted to salaried class, entrepreneurs, and High net worth Individuals (HNI’s). Bank has positioned itself as a preferred provider of financial services by incorporating technological advancement in its core businesses. Competitive advantage of HDFC Bank Brand visibility: Reaching out to nook & corner of the country has helped the brand in increasing its visibility in the market is not only metro or urban but also in the suburban centers.

Subsidiaries: The bank leverage on its other subsidiaries like Housing & Development Finance Corporation Ltd. which is known for extending housing loans, HDFC Mutual Fund for Mutual fund schemes, HDFC ERGO General Insurance for selling general insurance products, HDFC Life for Life insurance, HDFC Credila for education loan. Bank earns commission/ fees on selling/distributing these products through its network of branches. BCG (Growth Share) Matrix of HDFC Bank- Its Retail Banking Vertical stood with Retail Advances at? 5, 06,843 Crores and Retail Deposit? 2, 95,161 and commands high market share in the Banking industry. The wholesale banking vertical of the Bank is equally performing with the activities such as Investment banking, cash management, and Foreign Exchange. The other segments in which HDFC deals are International Banking and treasury.

Out of these strategic businesses Retail Banking and Wholesale banking command a handsome market share and is, therefore, are Stars while other two are question marks in the BCG matrix. Distribution strategy in the Marketing strategy of HDFC Bank– Being a Tech Savvy commercial banking company, HDFC bank has decentralized it is most of the business operations by making it accessible and user-friendly online interface. The bank have a physical distribution network of 4750+ branches in more than 2600 cities with around 12500 ATM’s located on onshore and offshore locations. Bank has recently introduced “EVA” an artificial intelligence based Chat bot assistant which helps the customers in providing product information and respond to queries of the customers on the real-time basis. In addition, bank facilitates its services through various alternate delivery channels such as like mobile banking, net-banking, SMS banking, phone banking, ATMs etc. Brand equity of HDFC Bank HDFC Bank has been ranked 258th in the list of Global 2000 companies and 234th in the Forbes magazine list of Growth companies.

The Bank has Market Capitalization of $ 57.4 billion as of May 2017. It has won several awards & accolades for the astounding technological advancement & innovation, such as Dun & Bradstreet BFSI Awards 2018, Asia’s 13th Fab Company in list of 50 companies (by Forbes), HDFC Bank bagged place in top 5 Companies That Have Shaped Asia & the World as per Forbes in 2017, IBA Banking Technology Awards 2017, Leading BFSI company award by Dun & Bradstreet in 2017 and many others. Competitive analysis of HDFC Bank HDFC Bank has been offering entire spectrum of financial products like personal banking, SME loans, Agro Loans, NRI services, Wholesale banking through technology driven mediums supported by smart phones and tablets which is not only helping the customers in conveniently consuming the services but it is also reducing the cost of distribution of the products & services by the Bank. To reach out to the millennial customer’s bank has forayed into social media banking through HDFC Bank OnChat through which customers and non-customers can complete e-commerce transactions through FB messenger which is supported by Techbins solutions Pvt.

Ltd. The bank competes with banking & NBFC financial institutions such as ICICI Bank, Axis Banks, PSU Banks like PNB, SBI, Canara Bank, NBFC’s like Indiabulls, Murugappa Group etc. Market analysis of HDFC Bank Banking industry has been going through the NPA (Non performing assets) turmoil and to overcome the challenges various automation of processes such as loan syndication, Customer loan life cycle, automation of trade finances, Chatbot for customer queries, HDFC interactive humanoid “IRA” technology demonstrator with artificial intelligence & robotics are some of the initiatives taken by HDFC Bank which are helping it in emerging as a pioneer in the Banking Industry. Customer analysis of HDFC Bank HDFC bank has segregated it customers based on MAB (Monthly average balance)/QAB (Quarterly average balance). It has categorized it as General, Classic, Preferred and Imperia. General customers are those who do day to day banking activities and have to maintain minimum required balance as prescribed by the Bank time to time.

Classic is the customers maintaining min MAB of 1 Lakh in the savings account or 5 Lakh in the combination of Savings Accounts and Fixed Deposit. Preferred customers are those maintaining (MAB) of 1 Lakh in savings account or 5 Lakh QAB in current or 15 lakh in combination of Savings Accounts, Fixed Deposit and current account while Imperia are those maintaining (MAB) of 10 Lakh in savings account or 15 Lakh QAB in current or 15 lakh in combination of Savings Accounts, Fixed Deposit. MARKETING MIX OF HDFC The marketing mix is very much responsible for the growth of any company and this marketing mix has made HDFC Bank one of the most coveted banks in India. Product HDFC offers mainly banking services, but there are many financial products which it offers along with banking. HDFC ergo, HDFC life and HDFC home loans are some of the products.

In total, the financial product portfolio of HDFC is huge. The USP of HDFC is that it designs competitive products which guarantee great response from the market and an almost unlimited longevity for business life. In terms of a banking, its product are its services, like net banking and ATM, and being a major bank, HDFC has planned its products in proportion with the ever increasing customer’s needs, demands and expectations. Apart from offering accounts, it has carried forward its namesake of being a housing finance corporation, and offers large variety of loans for purchasing houses, construction, re-construction, buying housing land, apartments etc. with maximum loan cover of up to 85%, and maximum repayment period of up to 20 years which is a major propulsion factor for it as a bank. Being into the services business, the major support for the product lies in its distribution.

Thus, after the product, the place and distribution of HDFC bank services is most important for the success of HDFC. Price HDFC is known to hold major market share in the banking sector of India, and this is because of reasonable yet profit invoking price structure for its services, which is justified to an extent, as every corporation has to sustain inflation and overcome market hurdles. HDFC bank has premium competitive pricing. When compared with national and PSU bank, the pricing is premium, because the minimum amount required to open an account is high. But at the same time, there are many rules, like home load interest, which are as per RBI guidelines and are competitive in nature. Thus, prices for these products are in control by the market and not by the corporation.

It provides reasonable loans at maximum repayment tenure and at par interest rates to both old and new customers. Apart from regular charges, it does not charge anything for miscellaneous and associated functions such as cheque replacement, advance loan repayment, take over etc. that justifies a lot.  Thus, in some places HDFC is premium priced, whereas in others it is evenly priced as per competition. Place The bank has an amazing 3488 branches in 2231 cities across the world. It is headquartered in Mumbai, India.

HDFC bank has 11,426 ATM’s across India. Furthermore, the banks services are delivered not only through ATMs or branches, but also through an excellent net banking service, phone banking, mobile banking and SMS banking. HDFC ensures that it has a presence so that it can concentrate on its huge commercial clientele along with being present for its retail clients. Banking is an intricate function as it includes certain confidential and security invoking processes that are to be carried on a regular basis, and they are done with minimal margin of errors, that cannot function in an unsafe environment. To make sure that all the daily confidential processes are duly met, placing these facilities becomes a very thoughtful function in itself, and HDFC has overcome these challenges by placing its operational premises at some of the most easily accessible locations across cities and towns, that are made available to its large number of account holders at strategically planned branches. Promotion From the very beginning, HDFC has planned and executed its promotional activities in a manner that has suited its service catalogue, and has maintained a 360 degree approach in planning its commercials, campaigns and marketing activities in general.

These promotional activities include variety of subtle television commercials with a message, a recent and innovative method of promotion by placing signboards and milestones in the rural portions of country in local/native language, and placing “No Parking” boards outside residential and commercial buildings, that has promoted its connection with the masses and making prospective client base associated with the name i.e. HDFC. HDFC uses undifferentiated marketing techniques; it mainly focuses on introducing its financial products to everyone. Because banking in general, is a mass market product.

However, for the HNI customers well trained relationship managers, wealth managers are used to retain the HNI clients with HDFC. Thus, this service too is a promotional product for HDFC. At the end, the promotions are focused on one thing only – to spread the name of HDFC far and wide. SWOT ANALYSIS OF HDFC BANK Strengths HDFC bank is the second largest private banking sector in India having 2,201 branches and 7,110 ATM’s HDFC bank is located in 1,174 cities in India and has more than 800 locations to serve customers through Telephone banking The bank’s ATM card is compatible with all domestic and international Visa/Master card, Visa Electron/ Maestro, Plus/cirus and American Express. This is one reason for HDFC cards to be the most preferred card for shopping and online transactions HDFC bank has the high degree of customer satisfaction when compared to other private banks The attrition rate in HDFC is low and it is one of the best places to work in private banking sector HDFC has lots of awards and recognition, it has received ‘Best Bank’ award from various financial rating institutions like Dun and Bradstreet, Financial express, Euro money awards for excellence, Finance Asia country awards etc HDFC has good financial advisors in terms of guiding customers towards right investments Weaknesses HDFC bank doesn’t have strong presence in Rural areas, where as ICICI bank its direct competitor is expanding in rural market HDFC cannot enjoy first mover advantage in rural areas.

Rural people are hard core loyalist in terms of banking services. HDFC lacks in aggressive marketing strategies like ICICI The bank focuses mostly on high end clients Some of the bank’s product categories lack in performance and doesn’t have reach in the market The share prices of HDFC are often fluctuating causing uncertainty for the investors Opportunities HDFC bank has better asset quality parameters over government banks, hence the profit growth is likely to increase The companies in large and SME are growing at very fast pace. HDFC has good reputation in terms of maintaining corporate salary accounts HDFC bank has improved it’s bad debts portfolio and the recovery of bad debts are high when compared to government banks HDFC has very good opportunities in abroad Greater scope for acquisitions and strategic alliances due to strong financial position Threats HDFC’s nonperforming assets (NPA) increased from 0.18 % to 0.20%. Though it is a slight variation it’s not a good sign for the financial health of the bank The non banking financial companies and new age banks are increasing in India The HDFC is not able to expand its market share as ICICI imposes major threat The government banks are trying to modernize to compete with private banks RBI has opened up to 74% for  foreign banks to invest in Indian market CHAPTER-4 Topic Profile Introduction to the topic Introduction to banking History of banking in India Banking structure in India INTRODUCTION TO THE TOPIC The banking industry is a commoditized space. With everyone offering nearly the same products and services without much room to compete on price, the experience customers have with their banks is what gives one bank a competitive advantage over another. Banking operations are becoming increasingly customer dictated.

The demand for ‘banking supermalls’ offering one stop integrated financial services is well on the rise. With the phenomenal increase in the country’s population and the increased demand for banking services; speed, service quality and customer satisfaction are going to be key differentiators for each bank’s future success. The relationship between a bank and their customer has the biggest impact on customer satisfaction. People want to be treated as if they matter. They want to form a relationship with their bank, and they want their bank to make an effort to get to know them instead of just pushing a product.

Thus it is imperative for banks to get useful feedback on their actual response time and customer service quality aspects of retail banking, which in turn will help them take positive steps to maintain a competitive edge. Customer satisfaction is quite a complex issue and there is a lot of debate and confusion about what exactly is required and how to go about it. The word ‘satisfied’ itself has a number of different meanings for respondents which can be split into the broad themes of contentment/happiness, relief, achieving aims and happy outcome and the fact that they did not encounter any hassle. Because customer satisfaction is so important in the banking industry, measuring the customer experience and identifying ways to improve in this area is essential.

Improving the customer experience is the best way to differentiate from the competition and improve the financial performance of the bank. INTRODUCTION TO BANKING A bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly by loaning or indirectly through capital markets. A bank may be defined as an institution that accepts deposits, makes loans, pays checks, and provides financial services. A bank is a financial intermediary for the safeguarding, transferring, exchanging, or lending of money. A primary role of banks is connecting those with funds, such as investors and depositors, to those seeking funds, such as individuals or businesses needing loans.

A bank is the connection between customers that have capital deficits and customers with capital surpluses. Banks distribute the medium of exchange. Banking is a business. Banks sell their services to earn money, and they must market and manage those services in a competitive field. Banks are financial intermediaries that safeguard, transfer, exchange, and lend money and like other businesses that must earn a profit to survive.

The services banks offer to customers have to do almost entirely with handling money or finances for other people. Banks are critical to our economy. The primary function of banks is to put their account holders’ money to use by lending it out to others who are in need of the same. Banks and money are essential to maintaining economies and they impact the entire societies and nations.

Hence they are closely regulated and strict procedures and principles are advised to be followed by the banks by various authorities and governments. In the United States, banks may be chartered by federal or state governments and in India government decides the rules for opening any banks or its branches. From a business structure perspective, most of the Banks are corporations or cooperative societies and may be owned by groups of individuals, corporations, or some combination of the two. Around the world banks are supervised by governments to guarantee the safety and stability of the money supply and of the country. HISTORY OF BANKING IN INDIA According to the Banking Companies Act of 1949, Banking is defined as, accepting for the purpose of lending or investment of deposit money from the public, repayable on demand or otherwise and withdrawable by cheque draft, order or otherwise. It also defines Bank as an institution dealing in money and credit.

It safeguards the savings of the public and gives loans and advances. The main functions of the banking sector are as following: It provides liquidity for economic growth of a country. It acts as the main pillar of the whole financial system. It offers safety for the depositors who want to deposit their savings in the Bank.

It offers liquidity for the borrowers both on short and long-term basis based on their need. It provides credit or loan to dealers, households, small as well as large business houses. It helps to manage all the financial transactions between different parties. It provides the Government with the flexibility to reach to the masses across the country The banking sector was developed during the British era. British East India Company established three banks, Bank of Bengal – 1809 Bank of Bombay – 1840 Bank of Madras – 1843 These three banks were later amalgamated and called Imperial Bank, which was taken over by SBI in 1955.

The Reserve Bank of India was established in 1935, followed by the Punjab National Bank, Bank of India, Canara Bank and Indian Bank. They have been the pallbearers in the History of Banking in India. In 1969, 14 major banks were nationalized and in 1980, 6 major private sector banks were taken over by the government. Indian banking system, over the years, has gone through various phases.

For ease of study and understanding, it can be broken into four phases:- Early Phase: During the first phase, the growth was very slow and banks experienced periodic failures during the Early Phase between. There were approximately 1100 banks, mostly small which failed in the early phase. Pre Nationalization Phase: Breakthrough happened in this phase, was Reserve Bank of India. Reserve Bank of India (RBI) was created with the central task of maintaining monetary stability in India. This phase of Indian banking was eventful and was a phase of restructuring, regulation. However, despite these provisions, control and regulations, banks in India except the State Bank of India, continued to be owned and operated by private persons Post Nationalization Phase: This phase of Indian banking not so happening for entry of new banks.

Undoubtedly, it was a phase of expansion, consolidation and increment in many ways. The banking sector grew at a phenomenal rate, fruits of nationalization were evident, and the common man was now banking with great trust. Modern Phase: This is the phase of “New Generation” tech-savvy banks. This phase can be called as “The Reforms Phase”. Currently, banking in India is generally 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. Prof K.V.

Bhanu Murthy has also segregated the Indian banking periods into four eras. These are: Early historical and formative era: 1770-19052 Pre-independence era: 1906-19463 Post-independence regulated era: 1947-19934 Post-independence deregulated era from 1993 onwards BANKING STRUCTURE IN INDIA Reserve Bank of India (RBI) The country had no central bank prior to the establishment of the RBI. The RBI is the supreme monetary and banking authority in the country and controls the banking system in India. It is called the Reserve Bank’ as it keeps the reserves of all commercial banks. Scheduled & Non –scheduled Banks A scheduled bank is a bank that is listed under the second schedule of the RBI Act, 1934. In order to be included under this schedule of the RBI Act, banks have to fulfill certain conditions such as having a paid up capital and reserves of at least 0.5 million and satisfying the Reserve Bank that its affairs are not being conducted in a manner prejudicial to the interests of its depositors.

Scheduled banks are further classified into commercial and cooperative banks. Non- scheduled banks are those which are not included in the second schedule of the RBI Act, 1934. At present these are only three such banks in the country. Commercial Banks Commercial banks may be defined as, any banking organization that deals with the deposits and loans of business organizations. Commercial banks issue bank checks and drafts, as well as accept money on term deposits.  Commercial banks also act as moneylenders, by way of installment loans and overdrafts. Commercial banks also allow for a variety of deposit accounts, such as checking, savings, and time deposit.

These institutions are run to make a profit and owned by a group of individuals. Scheduled Commercial Banks (SCBs): Scheduled commercial banks (SCBs) account for a major proportion of the business of the scheduled banks. SCBs in India are categorized into the five groups based on their ownership and/or their nature of operations. State Bank of India and its six associates (excluding State Bank of Saurashtra, which has been merged with the SBI with effect from August 13, 2008) are recognized as a separate category of SCBs, because of the distinct statutes (SBI Act, 1955 and SBI Subsidiary Banks Act, 1959) that govern them. Nationalized banks  and SBI and associates  together form the public sector banks group IDBI ltd. has been included in the nationalized banks group since December 2004.

Private sector banks include the old private sector banks and the new generation private sector banks- which were incorporated according to the revised guidelines issued by the RBI regarding the entry of private sector banks in 1993. Foreign banks are present in the country either through complete branch/subsidiary route presence or through their representative offices. Types of Scheduled Commercial Banks Public Sector Banks These are banks where majority stake is held by the Government of India.Examples of public sector banks are: SBI, Bank of India, Canara Bank, etc. Private Sector Banks These are banks majority of share capital of the bank is held by private individuals. These banks are registered as companies with limited liability. Examples of private sector banks are: ICICI Bank, Axis bank, HDFC, etc.

Foreign Banks These banks are registered and have their headquarters in a foreign country but operate their branches in our country. Examples of foreign banks in India are: HSBC, Citibank, Standard Chartered Bank, etc Regional Rural Banks Regional Rural Banks were established under the provisions of an Ordinance promulgated on the 26th September 1975 and the RRB Act, 1976 with an objective to ensure sufficient institutional credit for agriculture and other rural sectors. The area of operation of RRBs is limited to the area as notified by GoI covering one or more districts in the State.RRBs are jointly owned by GoI, the concerned State Government and Sponsor Banks (27 scheduled commercial banks and one State Cooperative Bank); the issued capital of a RRB is shared by the owners in the proportion of 50%, 15% and 35% respectively.Prathama bank is the first Regional Rural Bank in India located in the city Moradabad in Uttar Pradesh. CHAPTER-5 Research Methodology Research Methodology Research Design Data Collection RESEARCH METHODOLOGY Research methodology is the specific procedures or techniques used to identify, select, process, and analyze information about a topic. In a research paper, the methodology section allows the reader to critically evaluate a study’s overall validity and reliability RESEARCH DESIGN A research design is a systematic approach that a researcher uses to conduct a scientific study.

It is the overall synchronization of identified components and data resulting in a plausible outcome.  To conclusively come up with an authentic and accurate result, the research design should follow a strategic methodology, in line with the type of research chosen. DATA COLLECTION The objectives of the project are such that both primary and secondary data is required to achieve them. So both primary and secondary data was used for the project. The mode of collecting primary data is questionnaire mode and sources of secondary data are various magazines, books, newspapers, & websites etc. Primary Data: The primary data was collected to measure the customer satisfaction and their perception regarding HDFC Bank.

The primary data was collected by means of questionnaire and analysis was done on the basis of response received from the customers. The questionnaire has been designed in such a manner that the consumer’s satisfaction level can be measured and consumer can enter his responses easily. Secondary Data: The purpose of collecting secondary data was to achieve the objective of studying the recent trends and developments taking place in banking. Sample Method: Convenience sampling method is used for the survey of this project. It is a non-probability sample. This is the least reliable design but normally the cheapest and easiest to conduct .In this method Researcher have the freedom to choose whomever they find, thus the name convenience.

Example includes informal pools of friends and neighbors or people responding to a newspaper’s invitation for readers to state their position on some public issue. Sample Size: Sample size denotes the number of elements selected for the study. For the present study, 50 respondents were selected at random. All the 50 respondents were the customers of different branches of HDFC Bank. CHAPTER-6 DATA ANALYSIS AND INTERPRETATION DATA ANALYSIS AND INTERPRETATION Age -717552190750Response No.

of respondents % of respondents Below 30 Years 12 24% 30-40 Years 16 32% 40-50 Years 12 24% Above 50 Years 10 20% Response No. of respondents % of respondents Below 30 Years 12 24% 30-40 Years 16 32% 40-50 Years 12 24% Above 50 Years 10 20% Interpretation: From the above graph it is clear that majority of the customers of HDFC Bank are from the age group 30-40 years i.e.32%. 24% of the respondents are below 30 years old, 24% respondents are also between 40-50 years old. About 20% of the respondents are above 50 years old. Education qualification Responses No. of respondents % of respondents Under Graduate 3 6% Graduate 21 42% Post Graduate 26 52% Interpretation: Majority of the customers are Post Graduates 52%, 42% of the respondents are graduated and 6% of respondents are under graduates.

3. Occupation Response No. of Responses % of responses Business 13 26% Profession 12 24% Service 16 32% Student 9 18% Other 0 0% Interpretation: Majority of HDFC Bank customers work in the service sector i.e. 32%. 26% are in business sector, 24% are professionals and the remaining 18% are students. 4.

Annual Income Response No. of respondents % of respondents Less than 2 lakh 7 14% Between 2-5 Lakh 12 24% Between 5-8 Lakh 21 42% Above 8 lakh 10 20% Interpretation: Majority of HDFC Bank customers are from the annual income group 5-8 Lakh. 24% customers are in the income group 2-5 lakh. 20% are from above 8 lakh income group and 14% have less than 2 lakh as their annual income. 5. How long have you been a part of HDFC Bank? Response No.

of respondents % of respondents Less than a year 13 26% 1-4 years 23 46% 4-7 years 7 14% More than 7 years 7 14% Interpretation: Majority of HDFC Bank customers are a part of the bank from 1-4 years. 26% of the customers are part of the bank for less than a year.14% of the customers are part f the bank for 4-7 years and 14% are part of the bank for more than 7 years. 6. Do you always get prompt service whenever you visit the branch? Response No.

of responses % of responses Always 22 44% Often 15 30% Sometimes 8 16% Rarely 5 10% Never 0 0% Interpretation: 44% of HDFC Bank customers feel they have always gotten prompt service whenever they visited the bank branch. 30% feel they have often got prompt service. 16% feel they sometimes get prompt service. 10% feel they rarely get prompt service.

7. Are you able to use banking services online? Response No. of Respondents % of respondents Always 19 38% Often 8 16% Sometimes 8 16% Rarely 12 24% Never 3 6% Interpretation: 38% of HDFC Bank customers are always able to use banking services online. 16% often use online banking services and 16% customers use online banking services sometimes. 24% rarely use online banking services and 6% customers never use online banking services.

8. How many times have you faced a problem related to your banking account in the last one year? Responses No. of respondents % of respondents Once 16 32% 1-5 times 22 44% 5-10 times 4 8% More than 10 times 4 8% Never 4 8% Interpretation: Majority of customers i.e. 44% have experienced problems in their banking account 1-5 times. 32% customers have experienced a problem once. 8% have experienced problems 5-10 times.

8% have experienced problems more than 10 times. 8% have never experienced problems regarding their banking account. 9. How quickly were your problems and issues addressed by the bank staff? Response No.

of respondents % of respondents Immediately 23 46.9% Within 24 hours 17 34.7% Within 48 hours 6 12.2% Within 3-5 business days 2 4.1% More than a week 1 2% Interpretation: Majority of HDFC Bank customer’s i.e. 46.9% problems were quickly addressed by the bank staff. 34.7% customer’s problems were solved within 24 hours. 12.2% customer’s problems were solved within 48 hours. 4.5% respondent’s problems were solved within 3-5 business days.

2% respondent’s problems were solved after more than a week. 10. Do you agree that the procedure to open a bank account with HDFC bank is difficult? Response No. of respondents % of respondents Strongly disagree 13 26% Disagree 19 38% Neutral 9 18% Agree 7 14% Strongly agree 2 4% Interpretation: 38% respondents disagree that the procedure to open a bank account in HDFC Bank is difficult, 26% strongly disagree, 18% are neutral on this statement, 14% agree and 4% strongly agree on the statement.

11. Do you agree that the process of depositing and withdrawing money from HDFC Bank is complex? Response No. of respondents % of respondents Strongly disagree 13 26% Disagree 8 36% Neutral 11 22% Agree 4 8% Strongly agree 4 8% Interpretation: 36% of respondents disagree that the process of depositing and withdrawing money in HDFC Bank is complex. 26% strongly disagree on the statement, 22% respondents are neutral. 8% agree with the statement and 8% strongly agree with the statement 12. Do you agree that you are satisfied with the way the queries of the customers have been resolved by the HDFC Bank? Response No.

of respondents % of respondents Strongly disagree 5 10% Disagree 7 14% Neutral 8 16% Agree 26 52% Strongly agree 4 8% Interpretation: Majority of the respondent’s i.e.52% agree that they are satisfied with the way their queries have been resolved by the bank. 16% are neutral on the statement, 14% disagree with the statement, 10% strongly disagree and 8% strongly agree. 13. Do you agree that minimum account limit is not high and easy to maintain in HDFC Bank? Response No.

of respondents % of respondents Strongly disagree 11 22% Disagree 8 16% Neutral 9 18% Agree 17 34% Strongly agree 5 10% Interpretation: 34% of HDFC customers agree that minimum account limit is not high and easy to maintain. 22% strongly disagree on the statement 18% are neutral, 16% disagree and 10% strongly agree on the statement. 14. The terms and conditions set by HDFC Bank are acceptable.

Response No. of respondents % of respondents Strongly disagree 2 4% Disagree 3 6% Neutral 15 30% Agree 26 52% Strongly agree 4 8% Interpretation: 52% respondents agree that the terms and conditions of HDFC Bank are acceptable. 30% are neutral on the statement, 8% strongly agree with the statement, 6% disagree with the statement and 4% strongly disagree with the statement. 15. Are you satisfied with the way HDFC Bank staff deals with the customers? Response No. of respondents % of respondents Very satisfied 25 50% Somewhat satisfied 10 20% Neutral 8 16% Somewhat dissatisfied 6 12% Very dissatisfied 1 2% Interpretation: 50% of the respondents are very satisfied with the way HDFC Bank staff deals with the customers, 20% are somewhat satisfied, 16% are neutral, 12% are somewhat dissatisfied and 2% are very dissatisfied.

16. What is your feedback regarding the bank’s customer service representatives? Response No. of respondents % of respondents Very satisfied 21 42% Somewhat satisfied 11 22% Neutral 16 26% Somewhat dissatisfied 4 8% Very dissatisfied 1 2% Interpretation: 42% are very satisfied with HDFC customer care service representatives. 26% are neutral, 22% are somewhat satisfied, and 8% are somewhat dissatisfied.

17. Do you use services of other alternate banks? Response No. of responses % of responses Yes 36 72% No 13 26% Maybe 1 2% Interpretation: 72% respondents use services of other alternate banks, 26% do not use services of other alternate banks. 18. Would you recommend HDFC Bank as a preferred banking choice to your colleagues/Friends/Family Members? Response No.

of respondents % of respondents Yes 27 54% No 4 8% Maybe 9 38% Interpretation: 54% respondents would recommend HDFC Bank to their family and friends, 38% would maybe recommend and 8% would not recommend at all. 19. Overall, I’m very satisfied with the service quality provided by HDFC Bank. Response No. of respondents % of respondents Strongly disagree 2 4% Disagree 3 6% Neutral 10 20% Agree 27 54% Strongly agree 8 16% Interpretation: 54% respondents agree that they are satisfied with overall service quality provided by HDFC Bank, 20% are neutral on the statement, 16% strongly agree, 6% disagree and 4% strongly disagree. CHAPTER-7 FINDINGS AND CONCLUSION Findings Suggestions Limitations Conclusion FINDINGS From the analysis of the above collected data, the major findings are: ? 76% customers have experienced problems related to their banking account at least once or 1-5 times ? Almost 74% of customers get ‘always’ or ‘often’ get prompt service whenever they visit the bank branch ? 72% of HDFC sampled customers use services of other alternate banks ? 50% of the HDFC Bank customers are very satisfied with the service provided by the customer care service representatives and 20% are somewhat satisfied ? 22% sampled customers strongly disagree that the average monthly balance is easy to maintain whereas 11% customers disagree with the same.

SUGGESTIONS AND RECOMMENDATIONS Banking is a dynamic sector and also there is stiff competition to survive in the market. HDFC should try to introduce innovative services and products which would be appealing for people. Due to the stiff competition HDFC Bank should implement proper marketing strategies to create better brand image and brand awareness. HDFC Bank should come up with unique services and products where the customer is compelled to use HDFC as the preferred banking choice. HDFC Bank’s majority customer base is middle to higher class.

It could try to come up with services for all the income groups. HDFC Bank should constantly ask for customer feedback so that they can improve their customer service and use customer’s valuable insights for the betterment of the organization. HDFC Bank should try to employ more qualified with essential skills as it is one of the most important steps to create better service quality HDFC should employ strategies which enables people to opt HDFC as their preferred banking choice. LIMITATIONS OF THE STUDY A research study is incomplete without a few limitations.

These are: The research was carried out in a short period of time Sample size had to be limited because of limited time. The information given by the respondents might not be fully accurate Some of the respondents of the survey were unwilling to share information. CONCLUSION At the end I would like to conclude that there is a lot of stiff competition among the private banks in India. The race to get on top of the leader board never stops.

The majority of customers are satisfied. But the bank should try to target on the rest of the customers who are not satisfied. The customers are aware about the bank’s services but the Bank should try to create more bank awareness so that it can increase its customer base. HDFC Bank should introduce advertising strategies; it can use digital media as it is one of the strongest emerging tools in today’s scenario. HDFC should also try to target people of all income groups to increase its consumer base.

REFERENCES Books Agarwal, P.K.,(2009), “Consumer Behavior”, New Delhi. Rajeev kumar,(2007), “Consumer Behavior” Himalya publishing house. Kothari, C.R.,(2009), “Research Methodology”, New age International publication ltd., New Delhi. Gupta,A.K & Singh, R., (2009), “Research Methodology”, Vayu education of India, New Delhi Websites ANNEXURE 1 QUESTIONNAIRE What is your age? Below 30 years 30-40 years 40-50 years Above 50 years What is your education qualification? Under Graduate Graduate Post Graduate What is your Occupation? Business Profession Service Student Other What is your annual income? Less than 2 lakh 2-5 lakh 5-8 lakh Above 8 lakh How long have you been a part of HDFC Bank? Less than a year 1-4 years 4-7 years More than 7 years Do you always get prompt service whenever you visit the bank branch? Always Often Sometimes Rarely Never Are you able to use banking services online? Always Often Sometimes Rarely Never How many times have you faced a problem related to your banking account in the last 1 year? Once 1-5 times 5-10 times More than 10 times Never How quickly were your problems and issues addressed by the bank staff? Immediately Within 24 hours Within 48hours Within 3-5 business days More than a week Do you agree that the procedure to open a bank account in HDFC Bank is difficult? Strongly disagree Disagree Neutral Agree Strongly agree Do you agree that the process of depositing and withdrawing money from HDFC Bank is complex? Strongly disagree Disagree Neutral Agree Strongly agree Are you satisfied with the way the queries of the customers have been resolved by the HDFC Bank? Strongly disagree Disagree Neutral Agree Strongly agree Do you agree that minimum account limit is not high and easy to maintain in HDFC Bank? Strongly disagree Disagree Neutral Agree Strongly agree Terms and conditions set by HDFC Bank is acceptable.

Strongly disagree Disagree Neutral Agree Strongly agree Are you satisfied with the way HDFC Bank staff deals with the customers? Very satisfied Somewhat satisfied Neutral Dissatisfied Very dissatisfied What is your feedback regarding the bank’s customer service representatives? Very satisfied Somewhat satisfied Neutral Somewhat dissatisfied Very dissatisfied Are you satisfied with the financial transactions of the bank? Very satisfied Somewhat satisfied Neutral Somewhat dissatisfied Very dissatisfied Do you think HDFC Bank offers competitive interest rate? Strongly disagree Disagree Neutral Agree Strongly agree Do you think HDFC Bank caters to all your banking needs? Yes No Maybe Do you services of other alternate banks? Yes No Would you recommend HDFC Bank as a preferred banking choice to your colleagues/Friends/Family Members? Yes No Maybe Overall, I’m very satisfied with the service quality provided by HDFC Bank. Strongly disagree Disagree Neutral Agree Strongly agree

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