EXECUTIVE SUMMARYEXECUTIVE SUMMARY

1

EXECUTIVE SUMMARY EXECUTIVE SUMMARY

Axis Bank was the first of the new private banks to have begun operations in 1994, after the

Government of India allowed new private banks to be established. The Bank was promoted

jointly by the Administrator of the specified undertaking of the Unit Trust of India (UTI - I), Life

Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC) and

other four PSU insurance companies, i.e. National Insurance Company Ltd., The New India

Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance

Company Ltd. The word "bank" reflects the origins of banking in temples. According to the

famous passage from the New Testament, when Christ drove the money changers out of the

temple in Jerusalem, he overturned their tables. Matthew 21.12. In Greece, bankers were known

as trapezitai, a name derived from the tables where they sat. Similarly, the English word bank

comes from the Italian banca, for bench or counter.

Barter is also one means of exchange. This system is considered as an old fashioned means of

exchange in which goods were exchanged for goods. Under this system a vegetable grower

would have to find cloth seller who needs vegetable in order to get new clothes. However we can

say this was the only inconvenience of barter system.

In this project, I have endeavored to conduct a comparative analysis of the Savings Account,

Credit Cards etc. in different banks; the focus will be AXIS and other private banks like

CITIBANK, STANDARD CHARTERED BANK, HDFC BANK, ICICI BANK etc. The AXIS

Bank is my base bank with which I have compared savings account facilities with those of other

banks. This will help us to know the kind of services that are provided with the Savings Bank

Account of different banks. This will also help us to know as to how a Savings Account is

opened and the requirements needed for opening it.

Next, I have compared the ULIPS and MUTUAL FUNDS offered by different banks.

Thereafter, I have made a Comparative Analysis of Mutual Funds and ULIPS. There I have

brought out the basic difference between Mutual Funds and ULIPS as to why people invest in

one or both.

2

For the achievement of the aforesaid purpose first of all a study of products offered by AXIS

bank was done. These included savings account, credit cards, mutual funds & ULIPs.

3

INTRODUCTION ABOUT THE PROJECTINTRODUCTION ABOUT THE PROJECT

4

Introduction about the projectIntroduction about the project

The word "bank" reflects the origins of banking in temples. According to the famous passage

from the New Testament, when Christ drove the money changers out of the temple in Jerusalem,

he overturned their tables. Matthew 21.12. In Greece, bankers were known as trapezitai, a name

derived from the tables where they sat. Similarly, the English word bank comes from the Italian

banca, for bench or counter.

The history of banking is closely related to the history of money as monetary payments became

important; people looked for ways to safely store their money. As trade grew, merchants looked

for ways of borrowing money to fund expeditions.

Banking is the mirror reflection of an economy. All the countries economy sails on banking. The

major function of the bank is to lend to the economy. We have many cases at the back of our

mind in which collapse of banking sector lead to failure of economy. So if there is anything

wrong with this sector, entire economy can collapse like earthquake suffered buildings. Thus we

can say that performance of large part of the economy depend on banking sector.

BANKING -A HISTORY

Before studying history of banking lets come into the world when there was no currency. The

world of Barter is known as world when there was no currency.

One of the most improvements over the simplest form of early barter was first the

tendency to select one or two particular items in preference to others so that the preferred barter

items became partly accepted because of their qualities in acting as media of exchange although

of course, they still could be used for their primary purpose of directly satisfying the wants of

traders concerned.

Barter still often plays an important role in trade with countries who currency is not readily

convertible. All the retail level barter has become the main means of exchange on occasions

5

when currencies have collapsed completely as a result of hyper inflation. E.g. in Germany after

the Second World War. In normal circumstances retail barter is much less important but its

persistence has puzzled some economist

Banking sails on money. Money, money and only money if money is not there how would bank

run. Imagine a scene, existence of bank without money. So we can say that Banking without

money is not possible and so let’s also study history of money along with banking.

What is the Business of Banking?

Banking in a traditional sense is the business of accepting deposits of money from public for the

purpose of lending and investment. These deposits can have a distinct feature of being withdraw

able by cheques, which no other financial institution can offer.

In addition, banks also offer various other financial services which include

Issuing Demand Drafts and Travelers cheques

credit Cards

Collection of Cheques, bills of exchange

Safe deposit Lockers

Issuing Letter of Credit and letter of Guarantee

Sale and Purchase of Foreign Exchange

Custodial Services

Investment and Insurance Services

The business of banking is highly regulated since banks deal with money offered to them by the

public and ensuring the safety of this public money is one of the prime responsibilities of any

bank. That is why banks are expected to be prudent in their lending and investment activities.

Every bank has a Compliance Department, which is responsible to ensure that all the services

offered by the bank, and the processes followed are in compliance with the local regulations and

the Bank's corporate policy.

6

Organization profile

7

Type Public BSE: 532215

Founded Ahmedabad, 1994.

Headquarters  Mumbai, India

Key people Shika Sharma, MD & CEO

Industry Financial

Commercial banks

Employees 13,389 (2007)[1]

Website http://www.axisbank.com/

Organization profile-

8

Axis Bank was the first of the new private banks to have begun operations in 1994, after the

Government of India allowed new private banks to be established. The Bank was promoted

jointly by the Administrator of the specified undertaking of the Unit Trust of India (UTI - I), Life

Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC) and

other four PSU insurance companies, i.e. National Insurance Company Ltd., The New India

Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance

Company Ltd.

The Bank today is capitalized to the extent of Rs. 359.76 crores with the public holding (other

than promoters) at 57.79%.

The Bank's Registered Office is at Ahmedabad and its Central Office is located at Mumbai. The

Bank has a very wide network of more than 853 branches and Extension Counters (as on 30th

June 2009). The Bank has a network of over 3723 ATMs (as on 30th June 2009) providing 24

hrs a day banking convenience to its customers. This is one of the largest ATM networks in the

country.

The Bank has strengths in both retail and corporate banking and is committed to adopting the

best industry practices internationally in order to achieve excellence.

9

Company History - Axis Bank

1993

- The Bank was incorporated on 3rd December and Certificate of business on 14th December.

The Bank transacts banking business of all description. UTI Bank Ltd. was promoted by Unit

Trust of India, Life Insurance Corporation of India, General Insurance Corporation of

India and its four subsidiaries.

- The bank was the first private sector bank to get a license under the new guidelines issued by the

RBI.

1997

- The Bank obtained license to act as Depository Participant with NSDL and applied for

registration with SEBI to act as `Trustee to Debenture Holders'.

- Rupees 100 crores was contributed by UTI, the rest from LIC Rs 7.5 crores, GIC and its four

subsidiaries Rs 1.5 crores each.

1998

- The Bank has 28 branches in urban and semi urban areas as on 31st July. All the branches are

fully computerised and networked throughVSAT. ATM services are available in 27 branches.

- The Bank came out with a public issue of 1,50,00,000 No. of equity shares of Rs 10 each at a

premium of Rs 11 per share aggregating to Rs 31.50 crores and Offer for sale of 2,00,00,000 No.

of equity shares for cash at a price of Rs 21 per share. Out of the public issue

2,20,000 shares were reserved for allotment on preferencial basis to employees of UTI Bank.

Balance of 3,47,80,000 shares were offered to the public.

- The company offers ATM cards, using which account-holders can withdraw money from any of

the bank's ATMs across the country which are inter-connected by VSAT.

10

- UTI Bank has launched a new retail product with operationalflexibility for its customers.

Axis Bank, previously called UTI Bank, was the first of the new private banks to have begun

operations in 1994, after the Government of India allowed new private banks to be established.

The Bank was promoted jointly by the Administrator of the Specified Undertaking of the Unit

Trust of India (UTI-I), Life Insurance Corporation of India (LIC), General Insurance Corporation

Ltd., National Insurance Company Ltd., The New India Assurance Company, The Oriental

Insurance Corporation and United Insurance Company Ltd. UTI-I holds a special position in the

Indian capital markets and has promoted many leading financial institutions in the country. The

bank changed its name to Axis Bank in April 2007 to avoid confusion with other unrelated entities

with similar name.[2] Shikha Sharma was named as the bank's managing director and CEO on 20

April 2009.[3]

As on the year ended March 31, 2009 the Bank had a total income of Rs. 13,745.04 crores and a

net profit of Rs 1,812.93 crores.

- UTI Bank will sign a co-brand agreement with the market, leader, Citibank NA for entering into

the highly promising credit card business.

- UTI Bank promoted by India's pioneer mutual fund Unit Trust of India along with LIC, GIC and

its four subsidiaries.

1999

- UTI Bank and Citibank have launched an international co-branded credit card.

- UTI Bank and Citibank have come together to launch an international co-branded credit card

under the MasterCard umbrella.

- UTI Bank Ltd has inaugurated an off site ATM at Ashok Nagar here, taking the total number of

its off site ATMs to 13.m

11

2000

- The Bank has announced the launch of Tele-Depository Services for its depository clients.

- UTI Bank has launch of `iConnect', its Internet banking Product.

- UTI Bank has signed a memorandum of understanding with equitymaster.com for e-broking

activities of the site.

- Infinity.com financial Securities Ltd., an e-broking outfit is typing up with UTI Bank for a

banking interface.

- Geojit Securities Ltd, the first company to start online trading services, has signed a MoU with

UTI Bank to enable investors to buy\sell demat stocks through the company's website.

- Indiabulls has signed a memorandum of understanding with UTI Bank.

- UTI Bank has entered into an agreement with Stock Holding Corporation of India for providing

loans against shares to SCHCIL's customers and funding investors in public and rights issues.

- ICRA has upgraded the rating og UTI Bank's Rs 500-crore certificate of deposit programme to

A1+.

- UTI Bank has tied up with L&T Trade.com for providing customised

online trading solution for brokers.

2001

- UTI Bank launched a private placement of non-convertible debentures to raise up to Rs 75

crore.

12

- UTI Bank has opened two offsite ATMs and one extension counter with an ATM in Mangalore,

taking its total number of ATMs across the country to 355.

- UTI Bank has recorded a 62 per cent rise in net profit for the quarter ended September 30, 2001,

at Rs 30.95 crore. For the second quarter ended September 30, 2000, the net profit was Rs 19.08

crore.

The total income of the bank during the quarter was up 53 per cent at Rs 366.25 crore.

13

Research

Methodology

Research Methodology

Research methodology

14

Research Methodology is away to systematically solve the research problems it may be

understood as a science of studying how research is done scientifically. Research is a common

parlance refers to a search for knowledge, it is an academic activity and as such the term should

be used in a technical sense. The main aim of research is to find out the truth which is hidden and

which has not been discovered.

Objectives of the study

The objective of our project is to compare the similar features of the products and services of

HSBC with those of other banks and to give recommendations to HSBC to consider the same, if

deemed necessary, for improving its performance to get an edge over its competitor banks.

BUSINESS CAPABILITIES

Personal Banking

Credit and Debit Cards

Private Clients

Corporate and Institutional banking

Commercial banking

Payments and Cash Management

Trade Services

Bullion

Treasury and Capital Markets

Custody and Clearing

Investment Banking

Insurance services

Asset Management

Private Equity

15

Products offered by Axis bank-

ACCOUNTS DEPOSITS

INVESTMENTS

INSURANCE

LimitationsLimitations

As the samples are taken randomly and the population size of PUNE is large, sampling errors

are inevitable.

Simple Random and judgment sampling techniques were selected due to time and financial

constraints.

The study heavily relies on primary data which has been collected from public at large; hence

authenticity of data can pose as a limitation.

People are apprehensive and uncooperative in giving information at times.

16

DATA COLLECTIONDATA COLLECTION

DATA COLLECTION

17

PRIMARY DATA SOURCES

Observation method- In Addition to this information was also collected through primary

sources like discussion with my project guide, experts within and outside the company.

SECONDARY DATA SOURCE

Internet

Newspaper

Magazines

The data which is been collected from the primary source and secondary source states some im

portent facts .every year there is a increase in sales of 20%.the production department .of the

company is well equipped.the cost of the project is maintained by the finance manager.

It is a systematic examination of all 3 levels of the environment with at least three purposes:

Detecting important economic, social, cultural, environmental, health, technological,

and political trends, situations, and events.

18

Identifying the potential opportunities and threats for the institution implied by these

trends, situations, and events.

Gaining an accurate understanding of your organization’s strengths and limitations

Banking Privileges

Dedicated Relationship Managers

Free At-Par Cheque book

Free International VISA Debit Cards for primary and joint account holders

Free Monthly Statement of Accounts and Free Passbook

Free Issuance of Pay Orders or Demand Drafts drawn on Axis Bank branches

Free Inward Remittances

Free Outward Remittances once a year

Free monthly e-statement

Faster credits to foreign cheques providing you prompt availability of funds remitted

Cheque pickup and Cash delivery services

Anywhere Banking

Telebanking

Free Mobile Banking

iConnect

Customised Loan Offerings

Product analysis

ACCOUNTS-

19

zero Balance Savings AccountSave at ZeroSaving Money is now easier

Presenting, Axis Bank's Zero Balance Savings Account. At Axis Bank it has been our constant

endeavor to create products specifically catering to your needs. The account while offering you a

whole range of services also addresses your latent need of having an account without the hassle

of maintaining an average quarterly balance.

Features

No Average Quarterly Balance requirement

Free International Debit Card with an Accidental Insurance cover up to Rs 2 lakhs*

(charges for the primary holder are waived)

Free mobile banking facility

Access through more than 825 branches and more than 3595 ATMs

At-Par cheque facility with the clearing limit of Rs 50,000

24x7 Telebanking & Internet banking

Free quarterly statements

Free monthly e-statement

* Conditions Apply

1. Initial funding of Rs. 5,500.

2. Account maintenance fee of Rs. 500 per annum

Krishi Savings Account

20

Axis Bank offers a unique savings account which is easy to operate and allows you to transact

immediately. This product has been specially designed keeping in mind the unique requirements

of a farmer and true to its nature has been called the Krishi Savings Account.

Some of the features of our new product are:

Average Balance Requirement

This account is offered with the requirement of maintaining the half-yearly average balance of

Rs 1000 only.

International Master Debit Card

The Krishi Savings Account entitles you to an International Master Debit Card with which you

can access your account anytime through the Axis Bank ATM network free of cost.

This card comes with:

A cash withdrawal limit of Rs 25,000 per day

Free Accident Insurance cover of Rs 2 lacs

Anywhere Banking

Being a Krishi account holder, you are entitled to access our wide network of more than 825

branches and 3595 ATMs across 440 cities. You can now easily carry out your transactions

through any of the branches or ATMs.

At Par Cheque Book

Your Krishi Savings Account comes with the At-Par Cheque facility. This facility enables you to

encash the cheques as local instruments at any of the 440 centres where the Bank has its

presence, at no extra cost. Moreover, you can also issue cheques at other centers upto the limit of

Rs 50,000.

21

EasyAccess Savings Account : Features

At Par Cheque BookAs an EasyAccess Savings Account Holder, you will receive the "At-

par" cheque book. You can encash these cheques as local cheques at any of the 257 centers

where the bank has a presence, at no extra cost. Drafts are now history.

ATM NetworkEasyAccess Savings Account also entitles you to an International Debit Card

with which you can access your account anytime at all our ATMs - both, Visa enabled and our

partner banks - across the country. Withdrawals and deposits (money as well as cheques) are

possible with your Debit Card. And unlike most other ATMs, an Axis Bank ATM allows you to

withdraw upto Rs 40,000 per day.

Anywhere BankingYou can transact through any of our branch offices all of which are

interconnected for your banking convenience. Transactions like cash deposits, cash withdrawal,

transfers and clearing deposits can all be carried out wherever you happen to be.

TelebankingOur Telebanking service provides you instant access to your savings account. It

offers you a wide range of services over the phone such as Account Information, Balance

Inquiry, Transaction Details, Status of your Cheque (available only during branch business

hours) and even Statement of Account on Fax.

iConnectThe idea of "your Bank on your desktop" is now a reality with iConnect. You can

lookup the status of your savings account, request your new cheque book, undertake a range of

financial transactions, avail financial advisory services, get information on mutual funds and

shop online by just clicking the mouse.

22

Mobile BankingMobile Banking enables you to bank with us through your mobile phone

irrespective of where you are. Avail facilities like balance inquiry, debit or credit alerts, last three

transaction details and cheque status.

Account StatementQuarterly statements are delivered free of cost.

Quarterly InterestEvery quarter, interest would be credited at the rate of 3.5% per annum in

your account.

Free monthly e-statementAxis Bank offers the facility of free monthly e-statement.

23

..

Power SaluteSalute to the defence forces

Are you looking for an account that fits with your life in the Defence Forces?

Defence Salary Account from Axis Bank is a product designed keeping in mind how tough a life

in the Defence Forces is. Not only does it come to you absolutely free, no minimum balance is

required either. You can also access the entire Axis Bank network, including more than 2300

ATMs and 550 branch offices (and growing) no matter where you are posted.

With the complete gamut of banking services (including overdrafts, loans and zero-balance

requirements) you can now rest assured about your family and all their financial needs. It's our

way of showing our appreciation to your work.

Banking Privileges:

At-par Cheque Facility

Your job involves constant transfers across the country. With the at-par cheque facility it will no

longer be necessary to set up new bank accounts with each transfer.

Additional Debit Card

Along with a free International Debit Card, you also get a free card for the joint account holder.

This means that your child or spouse also enjoy the same benefits of banking with Axis Bank.

Financial Advisory Services

Our solutions answer to the twin goals of meeting your requirements and to diversify and spread

the risk of your investment portfolio, so you can look forward to a comfortable and worry-free

24

life. We first understand your exact investment needs and then design the perfect investment .  

Your investment plan could include investments in:

Mutual Funds - Debt and Equity

Bonds

Axis Bank Fixed Deposits

25

Smart Privilege Account

For the woman of today

In today's busy world it's tough being a working woman. Right from shuttling between a job and

family to taking care of her finances she has to be on her toes all the time. Keeping this in mind,

we at Axis Bank have designed a savings account best suited for the woman of today. With the

Smart Privilege Account, you can manage your money and your life and as well as enjoy a host

of lifestyle privileges. Furthermore Axis Bank's Smart Privilege Account ensures that you have

enough time for all the important things in life.

Zero Balance Minor Account

There could be an instance when at 3 am you could require cash. With our round-the-clock access

you can withdraw cash up to Rs. 40,000 per day, deposit cash/cheques, transfer funds, print a mini

statement and pay insurance premiums (LIC), all through our ATM channel which is one of the

largest ATM networks in the countr

26

senior PrivilegeBecause life begins at sixty

Are you seeking a banking style that compliments your senior status?

Axis Bank's Senior Citizen Savings Account has been designed keeping in mind the fact that a

senior citizen's banking requirements are wholly different and require special consideration.

Special Previlege

A Privilege assures the care you deserve

We have introduced Senior Citizen ID card for our Senior Privilege patrons. Let us briefly

introduce the wide range of advantages it hold for you.

Avail of Great benefits with Senior Citizen ID card

ID card acts as an age proof. Enabling you to redeem every advantage that you are eligible for.

This card will soon help you avail of certain never-before Senior-citizen benefits at various

stores, service providers and installation across the nation.

Feel safe Everywhere

Apart from provide you with the power to claim great benefits, card also act as emergency

information medium. In case of emergencies, it provides the doctors and authorities with vital

data like your blood group, allergies, illnesses, address and emergency contact details. This

ensures that you are well looked after in any situation, no matter where you are.

27

Always a Privilege

It will help in strengthen the bond with us and to be of assistance to you at all the times, no

matter what your need be. Whether its loan, a savings account or any financial services that you

wish to avail of, we will make sure that we're always be there by your side

.

28

Pension Savings Account

Are you a Pensioner seeking banking solutions tailored to your needs? 

Pension Savings Bank Account, from Axis Bank is specifically, designed for Pensioner's

(Existing &

Prospective) of Central Govt. Civil Ministries/ Departments & Defence Ministry keeping in

mind the fact that Pensioner's banking requirements are wholly different and require special

consideration.

Benefits

Timely communication to the customer on receipt of the PPO

No delays in commencement of pension disbursals - The Bank is handling the disbursement

of Pension under a Centralised Pension Disbursement Module wherein the Pensioner records

are credited centrally through its Centralised Pension Payment Hub (CCPH) at Mumbai.

Timely issue of Form- 16A for tax deducted at source in the immediately previous financial

year

Timely revisions based on changes in rates of Pension or Dearness Allowance, done

centrally from the CCPH

Note

The Bank is authorised by RBI and Central Pension Accounting Office (CPAO) for

disbursement of Central Civil Pension through its 218 authorised branches across the country.

29

DEPOSITS

Fixed DepositsSafety, Security and Growth

Axis Bank offers you simple reinvestment Fixed Deposits (at very competitive interest rates),

which can be opened with a minimum investment of Rs 10,000. You can make additions to your

deposit in multiples of Rs 1,000 each. The tenure of your deposit must be a minimum of 6

months.

Deposit Schemes

ReinvestmentDeposits:

In a reinvestment deposit, the interest accrued to your deposit at the end of each quarter is

invested along with the principal. The tenure of your deposit must be a minimum of 6 months. At

the end of the quarter, the interest and the principal are both rolled over, and the interest is

calculated on the total sum. Income tax is deducted at source.

AutomaticRollover:

As a Fixed Deposit holder, you can avail of the facility for automatic rollovers on maturity (for

both the principal and interest). You can select this option in the Account Opening Document

(AOD). The options available are:

30

RolloveronlyPrincipal:

Only the principal amount will be rolled over. The interest will be either credited to your

designated account or paid out.

Rollover Principal and Interest accrued in Reinvestment Deposit:

This will rollover both the deposit and the interest accrued for the same tenure at the interest rate

applicable on the maturity date.

On or before the maturity date, you can make the following changes in the rollover instructions

of the deposit: 

Change in tenure

Change in maturity instructions

Change in payment instructions

Change in principal (only reduced amount)

.

31

Tax Saver Fixed Deposit

In the Finance Bill of 2006, the government had announced Tax benefits to Bank Term Deposits

which are of over 5 year tenure u/s 80C of IT Act, 1961 vide Notification Number 203/2006 and

SO1220 (E) dated 28/07/2006.

The salient points of the scheme notification are; (a) Fixed tenure without premature withdrawal.

(b) Year is defined as a financial year. (c) Amount limited to Rs. 100 minimum and Rs. 100,000

maximum. (d) Bank will issue a Fixed Deposit Receipt that shall be the basis of claiming tax

benefit. (e) Term deposit under this scheme cannot be pledged to secure a loan.

Benefits of tax break u/s 80C of IT Act Benefit Illustrator Example

Assume that a customer invests Rs 100,000 in this scheme @ 8% p.a. in fixed deposit for five

years. He will get a benefit of Rs 30,600 at 30.6 % on the eligible investment of INR 100,000

assuming that he is in Rs 2,50000 lac to Rs 10,0000 lac tax bracket, thus his effective investment

would be Rs 69,400. He would earn Rs 8000 (08 percent on 1 lac) as interest per annum, which

would translate to a return of 11.5 percent on the effective investment of Rs 69,400.

32

Recurring Deposits

Power of compounding

Are you considering saving money a bit at a time?

Axis Bank's Recurring Deposit scheme will allow you with an opportunity to build up your

savings through regular monthly deposits of fixed sum over a fixed period of time.

Features

Recurring deposits are accepted in equal monthly installments of minimum Rs 1,000 and

above in multiples of Rs 500 thereafter.

The fixed number of installments for which a depositor can opt are 12, 24, 36, 39, 48, 60, 63,

72, 84, 96, 108 and 120 months.

Transfer of Accounts - a recurring deposit account can be transferred from one office of the

Bank to another branch.

The amount of installment once fixed, cannot be changed .

Installment for any calendar month is to be paid on or before the last working day of the

month. Where there is delay in payment of installment, one can regularise the account by

paying the defaulted installment together with a penalty (at present it is @ PLR plus 4 % for

the period of delay).Fraction of a month will be treated as full month for the purpose of

calculating the penalty.

The total amount repayable to a depositor, inclusive of interest, depends on the amount of

monthly installments and the period of deposit.

33

Mutual Funds

Invest smartly

A Mutual Fund is a trust that pools the savings of a number of investors who share a common

financial goal. The money thus collected is then invested in capital market instruments such as

shares, debentures and other securities. The income earned through these investments and the

capital appreciation realized are shared by its unit holders in proportion to the number of units

owned by them.

Thus a Mutual Fund is the most suitable investment for the common man as it offers an

opportunity to invest in a diversified, professionally managed basket of securities at a relatively

low cost.

Our Offering

As Axis Bank Financial Advisory team, we adopt a strong research driven recommendation

model to help you choose the best funds based on qualitative and quantitative parameters. 

Apart from this, a dedicated Relationship Manager can also be assigned to you to ensure that

your investment requirements are taken care of, smoothly and efficiently. Our advisors

understand your profile and lead you through a structured financial planning process to devise

financial solutions best suited to you. The advisors will also help you choose the right investment

productsinlinewithyourinvestmentgoals.

We offer a unique 'One Page Portfolio Snapshot' report across investment products to our

customers investing in Mutual Funds. This report can be viewed through our Internet Banking

module.

34

Kal Bhi, Aaj Bhi - Jiyoge Life Bindaas

The future brings it with many challenges. One of the most important issues is securing financial

independence after retirement. One should continue to live life to the fullest even after

retirement, its essential that we start planning for the Future now

Therefore to help you live "Kal Bhi, Aaj Bhi," a Bindaas Life, you need an investment solution

that takes care of your retirement needs.

The goal of retirement planning is to achieve financial security, so that the need to be employed

post retirement is not a necessity.

An investment plan for your post- retirement life should provide you with steady income every

month, as per your needs. If you consider the effect of inflation on the cost of living, a retirement

plan is a guaranteed way to face rising costs in the future. So that you can ensure a comfortable

retired life and make your dreams a reality.

35

Mohur Gold

Thought to be one of the first known metals, gold has been coveted throughout history for its

beauty, scarcity, malleability, and uncanny resistance to rust and corrosion. Centuries ago, gold's

unique combination of properties -- its sun-like color, its soft hardness and especially its

imperviousness to decay -- imbued it with magical associations in the eyes of many. Because of

these unique properties, gold has traditionally been the currency of choice for much of the

world's population. The value of gold has transcended all national, political, and cultural borders,

to become a desired asset. It in the form of coins and bars has attracted investments across

various cultures for centuries.

Mohur Gold Coins/Bars

Axis Bank brings to you Mohur Gold coins/bars in the purest form!

Made in Switzerland, Mohur Gold coins/bars carry the Assay certification of being 24 carat,

99.99% pure!

It comes to you in a specialized packaging that is tamper proof so that its purity is preserved.

Available in 5 gms, 8 gms, 10 gms, 20 gms & 50 gms, it is on offer in select branches of Axis

Bank.

36

INSURANCEINSURANCE

DEATH BENEFIT

Want to add a life insurance benefit as well? In the unfortunate event of your death, this Death

Benefit entitles your family to the full Sum Assured (maximum of Rs. 50 lakhs). So your family

can continue to live in the same house, children can continue their education.

ELIGIBILITY: Anyone between the ages of 18 and 60 years can apply for this plan. The policy

is valid for a period of five years, during which the premiums do not change. Such premium will,

however, increase on renewal after five years. Renewal is not guaranteed and is at the sole

discretion of the Company.

BENEFIT ILLUSTRATIONS

For a Healthy Male - Age 30; Occupational Class - I; Premium Mode - Annual

.FAMILY COVER

BENEFIT COVER

Benefit Cover Premium

PREMIUM

Health Insurance Benefit

Cancer Benefit

Life Insurance Benefits

Family Accidental Death &

Dismemberment Benefit - Family (FADD)

Total Permanent Disability (TPD)

Accidental Hospitalization Cash (AHC)

Death Benefit

1,000

700,000

1,000,000

7,000

1,000,000

2

1,736

1,120

700

4,980

Total Premium^ Rs. 8,538

Health Insurance Premium ^

Life Insurance Premium ^

Total Premium^

Rs. 2

Rs.8,536

Rs. 8538

37

SELF ACCIDENTAL COVER

BENEFIT COVER

Benefit Cover Premium

PREMIUM

Health Insurance Benefit

Cancer Benefit

Life Insurance Benefits

Family Accidental Death &

Dismemberment Benefit - Family (FADD)

Total Permanent Disability (TPD)

Accidental Hospitalization Cash (AHC)

Death Benefit

1,000

15,00,000

1,000

15,000

15,00,000

2

3,000

1

1,500

7,470

Total Premium^ Rs. 11,973

Health Insurance Premium ^

Life Insurance Premium ^

Total Premium^

Rs. 2

Rs.11,971

Rs.11,973

CRITICAL ILLNESS BENEFIT

BENEFIT COVER

Benefit Cover Premium

PREMIUM

Health Insurance Benefit

Cancer Benefit

Life Insurance Benefits

Family Accidental Death &

Dismemberment Benefit - Family (FADD)

Total Permanent Disability (TPD)

Accidental Hospitalization Cash (AHC)

Death Benefit

2,000,000

1,000

1,000

100

1000

6560

1

1

10

5

38

Total Premium^ Rs. 6,577

Health Insurance Premium ^

Life Insurance Premium ^

Total Premium^

Rs.6560

Rs.17

Rs.6577

39

DATA ANALYSIS &INTERPRETATION

40

Data analysis &interpretation

standard chartered bank account2.502.001.501.000.50

Fre

qu

en

cy

200

150

100

50

0

93

7

standard chartered bank account

Mean =1.93Std. Dev. =0.256

N =100

41

citi bank account2.502.001.501.000.50

Fre

qu

en

cy

125

100

75

50

25

0

90

10

citi bank account

Mean =1.90Std. Dev. =0.302

N =100

42

43

Axis bank account2.502.001.501.000.50

Fr

e q u e n cy

100

80

60

40

20

0

75

25

axis bank account

Mean =1.75Std. Dev. =0.435

N =100

3.Chart showing periodic investment by various income group people

monthly quarterly

half-yearly annually

below 3 lacs

3-5 lacs

5-7 lacs

above 7 lacs

income slab

Pies show counts35.71%n=5

28.57%n=4

35.71%n=5

20.00%n=6

50.00%n=15

30.00%n=9

43.75%n=7

37.50%n=6

18.75%n=3

30.00%n=12

65.00%n=26

5.00%n=2

This pie chart shows the periodic investment made by various income group people. If we take

the cumulative frequency of 3-5 lacs income group people, we will find that 51 (4+ 15+26+6)

respondents out of 100 make investment from this income group. Similarly if we take the

44

cumulative frequency of below 3 lacs income group people, we will find that 30(5+6+12+7)

respondents out of 100 respondents make investment from this income group. Therefore, AXIS

should focus on these two incomes group people for increasing its number of investors because

81 % (51+30) of respondents who make investment are from these two income group.

This pie chart shows the number and percentage of AXIS and Non AXIS account holders from

different income group. AXIS account holders are from only two income groups I.e. 3-5 lacs and

above 7 lacs income group. Therefore AXIS should focus on these income groups. Now among

these two income group more attention should be given to above 7 lacs income group people. It

is because of the reason that if we take cumulative frequency of above 7 lacs income group, we

will find that out of 14 (11+3) people surveyed in this income group, 11 people are AXIS

account holders. While in case of 3-5 lacs income group, out of 51(14+37) surveyed from this

group, only 14 people are AXIS account holders. Therefore, we can clearly see that conversion

rate in above 7 lacs income group is much more than 3-5 lacs group. Hence AXIS should focus

on this group in order to increase its number of account holders.

45

5.BAR GRAPH showing credit card analysis

This bar graph shows following two things :

1. which bank’s credit card do the respondent have

2. Why did the respondent prefer that credit card to other banks?

If we look at the bar of AXIS, we will find that 29 (9+10+10) respondents out of 100

have AXIS credit card. The reasons that were given for preference of AXIS credit card

46

which bank's credit card do the respondent have

any othersbi bankstandard chartered

bank

citi bankhdfc bankicici bankAXISMissing

C o u nt

12

10

8

6

4

2

0

3

0

2

7

4

0

10

0 0

3

00

4

6

10

0 0

6

0

6

0

8

9

0

3

00

2

0

6

00 0000000

11

maximum credit periodcredit limitno hidden chargesminimum annual feesMissing

why did the respondent prefer that credit card to

other banks

are no hidden charges, credit limit, and maximum credit period. The only good

competitor of AXIS in credit cards is ICICI bank which has 20 (6+8+6) credit card

holders. One of the reason fro which people have preferred ICICI credit card is

Minimum annual fees. This reason is not there in case of AXIS bank. This means that

Annual fees charged by AXIS are more than ICICI bank. Therefore AXIS should reduce

its annual fees in order to pull some of the credit card holders from ICICI bank. The

missing bar shows number of respondents who don’t have any credit card

6. BAR GRAPH showing the ATM card analysis

The bar graph shows “Which bank’s ATM card do the respondent use” and “Why did the

respondent prefer that ATM to other banks”. ICICI is leading in this with 28 ATM card

holders.SBI have 26 ATM card holders. AXIS is at third position with 20 ATM card holders.

AXIS should take following steps to increase its number of ATM card holders :

a) It should reduce its Minimum balance limit.

b) It should increase its number of ATM’s in city.

7.BAR GRAPH showing HSBC Bank account analysis

a) It should reduce “average quarterly balance” required to keep an account.

b) It should open more branches in Jaipur as there is only one branch of AXIS in PUNE.

47

respondent's ageabove 6045-60 years26-45 years18-25 years

Co

un

t

20

15

10

5

0 0

2

0

6

4

2

6

0

18

14

20

0

12

5

11

any otherentrepreneurservice

proffesional/self employed

any otherentrepreneurservice

proffesional/self employed

occupation

This line graph shows the number of respondents engaged in various occupations under various

age groups. Maximum number of respondents (37) fall in age group 18-25 years age groups.

Also 50% of respondents are in Service.

48

10.PIE CHART showing various aspects considered for investment and frequency of respondents

financial security

service quality

attractive plans

aspect considered for investment

Pies show counts

This pie chart shows the various aspects that are considered for investment by respondents. 85%

of respondents consider Financial security before making any investment.10% respondents make

investment by looking at attractive plans. While rest looks for service quality.

49

11.BAR GRAPH relationship between ULIP and respondent’s age

respondent's ageabove 6045-60 years26-45 years18-25 years

Co

un

t

20

15

10

5

0

2

15

7

20

2

1918

17

noyes

whether respondent is an existing investor in

ulip or not

This bar graph shows the number of respondents in various age groups who are existing investor

in ULIP. Only 56% of respondents are existing investors in ULIP. The maximum number of

investors in ULIP is from age group 45-60 years.

50

51

12.BAR GRAPH relationship between Fixed deposit and respondent’s age

respondent's ageabove 6045-60 years26-45 years18-25 years

Co

un

t

25

20

15

10

5

0

2

18

5

24

2

16

20

13

noyes

whether respondent is an existing investor in Fixed deposit or not

This bar graph shows the number of respondents in various age groups who are existing investor

in Fixed Deposit. Only 51% of respondents are existing investors in FD .The maximum number

of investors in FD is from age group 26-45 years. Therefore AXIS should focus on this age

group for increasing their amount of Fixed Deposits.

52

13.BAR GRAPH relationship between NSC and respondent’s age

respondent's ageabove 6045-60 years26-45 years18-25 years

Co

un

t

40

30

20

10

02

20

15

32

2

14

10

5

noyes

whether respondent is an existing investor in

NSC or not

This bar graph shows the number of respondents in various age groups who are existing investor

in NSC. Only 31% of respondents are existing investors in NSC. The maximum number of

investors in NSC is from age group 45-60 years. Therefore AXIS should focus on this age

group for increasing their amount of NSC.

53

14.BAR GRAPH relationship between PPF and respondent’s age

respondent's ageabove 6045-60 years26-45 years18-25 years

Co

un

t

40

30

20

10

02

1616

33

2

18

9

4

noyes

whether respondent is an existing investor in

PPF or not

This bar graph shows the number of respondents in various age groups who are existing investor

in PPF (Public provident fund). Only 33% of respondents are existing investors in PPF. The

maximum number of investors in PPF is from age group 45-60 years. Therefore AXIS should

focus on this age group for increasing their amount of PPF.

From above it is clear that maximum investors are in ULIP and Fixed deposit. Therefore AXIS

should launch attractive plans in ULIP and Fixed Deposit for capturing large portion of

investment market.

54

15.BAR GRAPH showing the reason due to which respondent make a choice for insurance plan

how do respondent make a choice for insurance planchargesclaims credibilityreturnsterm periodpremium benefitscompany

Co

un

t

30

20

10

0

1012

29

19

13

17

This bar graph shows various factors that respondent consider for making a choice for insurance

plan.29% of respondents give highest priority to “Returns”. 19% of respondents give highest

priority to “Term Period”. Therefore AXIS and TATA AIG must launch such insurance plans

which give maximum returns (i.e. bonus).

55

16.PIE CHART showing the top most investment ranked by respondents

This pie chart shows the top most investment ranked by respondent. Real Estate has been given

the top most priority by maximum number of respondents. Second top most priority has been

given to Equities. Third, fourth, fifth priority have been to Insurance, Mutual Funds and SIP

respectively. Therefore AXIS EQUITY FUNDS have good growth prospects. They should target

customers for making investment in their Equity fund.

The project is prepared to create customer awareness about the AXIS wealth management services exclusively for Power Vantage segment

56

Findings

Findings

57

A major portion of the people in Pune is not aware of the mutual funds, SIP, ULIP and

their benefits so the main motive of the project was to change the mind set of the people

regarding mutual funds, sip etc. and to move their savings from deposits to mutual funds.

To know the response and to gather the information about the different class of customers

following method were used which are as follows:- During this project I have learnt

about corporate ethics and some of the points which are mention below:-

I came to know about mutual funds and ULIP’s, how they work etc. which enhanced my

knowledge.

I understood how to search data and how to convert them.

I developed a convincing attitude and improved communication skills.

I understood that customer relationship is one of the most important factors in business.

For maintaining customer relationship proper follow ups should be there and every sales

personnel should follow this.

I learnt the importance of Financial Planning and how to do Financial Planning of an

individual.

I learnt different types of pitches i.e. how to handle different class of customers at

different point of time.

58

Suggestions-

Being, my first work experience it was a learning period for me and I learnt a lot in very

less time as the working environment of the bank is excellent but still I would like to give few

suggestions as mentioned below:-

The quality of service should be improved which the bank is providing to existing

customers.

AXIS should also have a software where in the customers can also see his/her portfolio

any time.

Last but not the least the person in life who is proficient like Mr. RAJ who have such a

high degree of clarity and focus in their thoughts and action to which I render my heartiest and

deep sense of gratitude for their tremendous cooperation in this Endeavour.

I also convey my deepest regards to all members of wealth managementteam

59

conclusion

60

Conclusion

This training program has played a significant role in developing an understanding about the

working of an organization. As the project on comparative analysis is of such a nature, where

the knowledge of various products and services offered by various banks is to be gathered.

The most important thing is that, for any of the organization, its central concentrating area is

its Customers/Consumers. After all an ultimate aim of an organization is to make its

customers happy and satisfied. As the project was on the understanding the behavior of the

consumers and scope for selling, therefore got the opportunity to come across many of the

customers of the bank. As per the different surveys, a good percentage of users are those who

are not satisfied with the services offered by the organization due to different reasons and

most significant reason can be the after sales services. In the current scenario of fierce

competition, only those will be able to survive, who provide best services to its consumer

base. Today’s consumer is ready to pay more but there should not be any compromise in the

quality and services.

On the basis that a business is in existence to constantly innovate and market its products and

services, then the role of the customer changes. The customer is not simply a consumer of

such things but is now transformed into a source of business intelligence and information,

providing feedback and insight back to the business.

Therefore today more than ever, every interaction with a customer counts.

Information from the interaction can help the business build strategies to influence the

behavior of its customers – a huge aspiration as increasingly; the customer understands the

value he or she has to the business and can therefore exploit and manipulate this position to

great benefit!

61

Bibiliography

62

Bibliography

Magazines:

Business World

Business Today

Other Management Books

Newspaper:

Economic Times

Websites:

www.wikipedia.org

www.google.com

63

Annexure

64

Questionnaire

This survey is to assess investment awareness and savings capacity. Please answer to the best of

your knowledge. Confidentiality of the information should be maintained.

Personal information

Name:

Address:

Mobile/ Tel. no:

E-mail id:

General information (Profile based)

What is your age (in years)?

a )18-25 b)26-45

c) 45-60 d)Above 60

What is your Educational Qualification?

a) Under Graduate c) Graduate

b) Post Graduate d) Technical/Professional degree

What is your Marital status?

a) Married b) Unmarried

65

What is your occupation?

a) Professional /Self employed

b) Service

c) Entrepreneur

d) Any other (specify)

Ideally you fall in which income slab?

a) Below 3 lac

b) 3 lac – 5 lac

c) 5 lac – 7 lac

d) Above 7 la

How often do you invest?

i) Monthly ii) Quarterly iii) Half-yearly iv)Annually

What are your reasons for making investments? Tick as applicable,

Child’s Education Planning

Child’s Marriage Planning

Retirement Planning

Contingency Planning

Property Planning

Tax Planning

66

You prefer to invest through,

a) Self

b) Bank

c) Personal Relationship Manager

d) Financial Planner

Which according to you would you prefer to invest in?

a) Equities

b) Real estate

c) Insurance(life/non-life)

d) Mutual fund

e) Bank deposit/SIP

f) Govt.bonds/securities

Please mention the time frame for which you are comfortable investing your money.

□        12 months □        2-3 years

□        5-10 years □        More than 10 years

 Tick the three most important aspects which you consider to be important for your

investments?

67

Particulars

Financial Security

Service Quality

Attractive Plans

Personalized Service

Simple Procedure

Friendly Approach

Are you satisfied with the quality of services offered by your banker/ financial planner?

□ Completely Satisfied

□ Somewhat Satisfied

□ Completely Dissatisfied

□ Somewhat Dissatisfied

□ Can’t Say

What do you know about AXIS mutual funds?

□ It has a good past performance.

□ It offers good schemes.

□ It is known for its customer service.

□ I know only about its advertisements in print and media.

□ Don’t know anything about AXIS Mutual Funds

Have you invested in your tax savings this year?

Yes No

Which tax savings investment will you opt for this year?

a) Insurance (Life Ins.)

b) Mutual Funds(ELSS)

c) Pension Plans

d) NSC

68

e) Home Loans

f) Medical Premium

In which bank do you have an account?

a) AXIS b) ICICI BANK

c) HDFC BANK d)CITI BANK

e) STANDARD CHARTERED BANK f) SBI BANK

Which type of account do you have?

a) Saving account b)Current account

Why do you prefer to have account in respective bank(s)?

A) Low A.Q.B

B) Customer Service

c) Number of branches in city

d) Any other

Do you have any credit card?

a) Yes b)No

If yes, which bank’s credit card do you have?

a) AXIS b) ICICI BANK

c) HDFC BANK d)CITI BANK

69

e) STANDARD CHARTERED BANK f) SBI BANK

Why do you prefer that credit card over other banks?

a) Minimum annual fees b) No hidden charges

c) Credit limit d) Maximum credit period

Which bank’s ATM card do you use?

a) AXIS b) ICICI BANK

c) HDFC BANK d)CITI BANK

e) STANDARD CHARTERED BANK f) SBI BANK

Why do you prefer the above specified bank’s ATM over other banks?

a) Minimum balance limit

b) Withdrawal limit

c) Number of ATM’s in city

70

Annexure

QuestionnaireQuestionnaire

71

Name:-

Name of the department:-

1. What are the duies of finance manager in indrayani?

Ans: - a) ……….. b)………… c)………… d)………….. e)………… f)………… g)…………h)…………....

2. Are you aware with the all policies of the Company?

Ans: - Yes

No

3. From which source you got the knowledge about new technologies?

Ans: - a) finance Department

b) Colleagues

c) Intranet

4. Are the staff members courteous and helpful to each other?

Ans: - Yes

72

No

5. Does it any need of changes?

Ans: - Yes

No

1. Is the amount of raw material need to be grown?

Ans: - Yes

No

2. Are you satisfied with the all financial policies policies?

Ans: - Yes

No

3. Would you like to suggest your viwe about these policies?

Ans: -……………………………………………………………………………… ………………………………………………………………………………. ……………………………………………………………………………….

73

74

75

76