ING Vysya Summer Training Report

8/6/2019 ING Vysya Summer Training Report

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A PROJECT REPORT

On

Create Awareness of Banks Product offered

by ING-Vysya Bank in Bareilly

(4 May - 20 July)

SUBMITTED TO

In partial fulfillment of the requirement for the award of the

Post Graduate Program of

RESEARCH & BUSINESS ANALYTICS

From

EMPI Group of Institutions2008-2010

SUBMITTED BY

Mukhar Goel

Submitted to

Mr.David Easow

Director,VC-MaGtics

New Delhi


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ACKNOWLEDGMENT

The satisfaction Euphoria that accompany the

successful completion of any work would be

incomplete unless we mention the name of the

person, who made it possible, who constant guidance

and encouragement served as a beckon of light andcrowned our efforts with success. I consider it a

privilege to express through the pages of this report, a few

words of gratitude and respect to those who guided and

inspired in the completion of this project.

I am deeply indebted to Mr. Pankaj Sharma

(Branch Head) for giving me the opportunity to undergo

my project in their esteemed organization and the their

timely suggestions & Valuable guidance. I also want to

give thanks to

Mr. Arastu Sharma (Sales Manager). They constantly

encouraged me and showed the right path from day first

till the completion of my project.

I had visited almost all markets of Bareilly and

collected information of the project. I have also done

promotional activities under the constant guidance of my

project guide.

In the last but not the least, my grateful appreciation

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is also extended to Prof. David Easow (Head of RBA

Department), Ms. Varsha Solanki (Coordinator RBA

Department), Mr. Nishikant Bele (Faculty EMPI) andalso my thanks to all my faculties members, Parents and

friends.

However, I accept the sole responsibility for any

possible errors of omission and would be extremely

grateful to the readers of this project report if they bring

such mistakes to my notice.

MUKHAR GOELMUKHAR GOEL

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Preface

Decision-making is a fundamental part of the research

process. Decisions regarding that what you want to do,how you want to do, what tools and techniques must be

used for the successful completion of the project. In fact it

is the researchers efficiency as a decision maker that

makes project fruitful for those who concern to the area of

study.

Basically when we are playing with computer in every part

of life, I used it in my project not for the ease of my but for

the ease of result explanation to those who will read this

project. The project presents the role of financial system in

life of persons.

I had toiled to achieve the goals desired. Being a

neophyte in this highly competitive world of business, I

had come across several difficulties to make the

objectives a reality. I am presenting this hand carved

efforts in black and white. If anywhere something is found

not in tandem to the theme then you are welcome withyour valuable suggestions.

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DECLARATION

I hereby declare that the project entitled Create

Awareness of Banks Product offered by ING-Vysya

Bank in Bareilly submitted in partial fulfillment of the

requirements for the Post Graduate Program in Research

& Business Analytics is my original work and not

submitted for the award of any degree, fellowship,

diploma, or any other similar title or prizes.

An attempt has been made by me to provide all

relevant and important details regarding the topic to

support the theoretical edifice with concrete research

evidence. This will be helpful to clean the fog surroundingthe various aspect of the topic.

I hope that this project will be beneficial for the

Organization.

Place: BAREILLY (MUKHAR GOEL)

Date: June Roll No.: 9 Batch: 2008-2010

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TABLE OF CONTENTS

S.NO TOPIC PAGE

NO.1 Company Overview 72 Origin of ING Group 83 Company Profile 94 Mission 9

5 New Identity 106 Milestones in the journey of

ING-VYSYA bank

11

7 Balance-sheet 138 Profit & Loss Account 149 Cash Flow 1510 Board of Directors 16

11 Synopsis 1712 Facts about ING VYSYA 2013 Products 2214 Executive Summary 5415 Introduction of Banking Industry 5616 Training session on Selling Skills 6617 KYC 77

18 Research methodology 8019 Analysis of Data 8820 Conclusions &

Recommendations

94

21 Questionnaire 9822 Bibliography 102

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Company Overview

ING Vysya Bank Ltd., is an entity formed with the coming

together of erstwhile, Vysya Bank Ltd, a premier bank in

the Indian Private Sector and a global financial

powerhouse, ING of Dutch origin, during Oct 2002.

The origin of the erstwhile Vysya Bank was pretty humble.

It was in the year 1930 that a team of visionaries came

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together to form a bank that would extend a helping hand

to those who weren't privileged enough to enjoy banking

services.

It's been a long journey since then and the Bank has

grown in size and stature to encompass every area of

present-day banking activity and has carved a distinct

identity of being India's Premier Private Sector Bank.

In 1980, the Bank completed fifty years of service to the

nation and post 1985; the Bank made rapid strides to

reach the coveted position of being the number one

private sector bank. In 1990, the bank completed its

Diamond Jubilee year. At the Diamond Jubilee

Celebrations, the then Finance Minister Prof. Madhu

Dandavate, had termed the performance of the bank

Stupendous. The 75th anniversary, the Platinum Jubilee

of the bank was celebrated during 2005.

The origin of ING Group

On the other hand, ING group originated in 1990 from the

merger between Nationale Nederlanden NV the largest

Dutch Insurance Company and NMB Post Bank Groep

NV. Combining roots and ambitions, the newly formed

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company called Internationale Nederlanden Group.

Market circles soon abbreviated the name to I-N-G. The

company followed suit by changing the statutory name toING Group N.V..

Profile

ING has gained recognition for its integrated approach of

banking, insurance and asset management. Furthermore,

the company differentiates itself from other financial

service providers by successfully establishing life

insurance companies in countries with emerging

economies, such as Korea, Taiwan, Hungary, Poland,

Mexico and Chile. Another specialization is ING Direct, an

Internet and direct marketing concept with which ING is

rapidly winning retail market share in mature markets.

Finally, ING distinguishes itself internationally as a

provider of employee benefits, i.e. arrangements of non

wage benefits, such as pension plans for companies and

their employees.

Mission

ING`s mission is to be a leading, global, client-focused,

innovative and low-cost provider of financial services

through the distribution channels of the clients preference

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in markets where ING can create value.

The new identity

The immediate benefit to the bank, ING Vysya Bank, has

been the pride of having become a Member of the global

financial giant ING. As at the end of the year December

2008, ING's total assets exceeded 13.31 billion euros,

employed over 125000 people, served over 85 million

customers, across 50 countries. This global identity

coupled with the back up of a financial power house and

the status of being the first Indian International Bank,

would also help to enhance productivity, profitability, to

result in improved performance of the bank, for the benefit

of all the stake holders.

Milestones in the long journey ofING-VYSYA

Bank

1930 Set up in Bangalore1948 Scheduled bank

1985 Largest private sector bank1987 The Vysya Bank Leasing

Ltd .Commenced

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1988 Pioneered the concept of

Co branding of credit Cards

1990 Promoted Vysya Bank

Housing Finance Ltd.1992 Deposits cross Rs.1000

crores1993 Number of branches

crossed 3001996 Signs Strategic Alliance with

BBL.,Belgium. Two National

Awards by Gem & Jewellery

export Promotion council for

excellent performance in

export promotion.1998 Cash Management Services

& commissioning of VSAT.

Golden Peacock Award-for

the best HR Practices by

Institute of Directors. Rated

as Best Domestic Bank in

India by Global

Finance(International

Financial Journal-June

1998)2000 State-of-the-art Date Centre

at ITPL, Bangalore.

RBI clears setting up of ING

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Vysya Life Insurance

Company

2001 ING-Vysya commenced life

insurance business.2002 The Bank launched a range

of products & services like

the Vys Vyapar Plus, the

range of loan schemes for

traders, ATM services,

Smartserv, personal

assistant service, Save &

Secure, an account that

provides accident

hospitalization and

insurance cover,

Sambandh, the International

Debit Card and the mi-bank

net banking service.2002 ING takes over the

Management of the Bankfrom October 7th , 2002

2002 RBI clears the new name of

the Bank as ING Vysya

Bank Ltd, vide their letter of

17.12.02

2003 Introduced customer friendly

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products like Orange

Savings, Orange Current

and Protected Home Loans2004 Introduced Protected Home

Loans - a housing loan

product2005 Introduced Solo - My Own

Account for youth and

Customer Service Line

Phone Banking Service2006 Introduced Solo - My Own

Account for youth and

Customer Service Line

Phone Banking Service

Balance sheet of ING-VYSYA Bank Ltd. for the

year ended 31 March 2008

(Rs.i

n crores)

Mar08 Mar07 Mar06

Sources of fundsOwners fund

Equity share capital 102.47 90.90 90.72

Reserves and surplus 1323.67 901.60 817.41

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Profit & loss account of ING-VYSYA Bank Ltd.

(Rs in

crores)

Mar08 Mar07 Mar06Income

Operating Income 1983.64 1537.22 1321.24

Expenses

Personnel

expenses

302.39 238.48 234.19

Selling Expenses 4.28 3.49 5.36Administrative

expenses

299.90 296.56 295.43

Cost of sales 606.56 538.53 534.98

Operating profit 195.03 139.38 45.01

Other recurring

Income

121.62 56.87 31.56

Adjusted PBDIT 316.66 196.26 76.57

Financial

expenses

1182.05 859.31 741.25

Depreciation 38.93 37.98 37.20Other write offs Nil Nil Nil

Adjusted PBT 277.72 158.27 39.37Tax charges 94.53 38.72 12.46

Adjusted PAT 151.57 83.92 6.01Non-recurring

items

3.38 4.99 3.05

Reported net

profit

154.95 88.91 9.06

Earnings before 173.39 90.20 -25.55

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appropriation

Equity dividend 15.37 5.91 Nil

Preference

dividend

Nil Nil Nil

Dividend Tax 2.61 1.00 Nil

Retained

earnings

155.41 83.29 -25.55

Cash flow

(Rs in crores)

Mar08 Mar07 Mar06

Profit before tax 251.46 127.63 21.52Net cash flow-

operating activity

1426.23 308.12 -202.67

Net cash used in

investing activity

-35.55 -17.62 -74.90

Net cash used in 202.38 177.87 286.41

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financial activity

Net

increase/decrease

in cash and

equivalent

1593.06 468.37 8.84

Cash and

equivalent at the

beginning of the

year

1591.70 1123.33 1114.50

Cash and

equivalent at the

end of the year

3184.76 1591.70 1123.33

Board of Directors

S.no. Name of the person Designation

1 Aditya Krishna Director 2 Arun Thiagarajan Director

3 K R Ramamoorthy Director

4 K R V Subrahmanian Director

5 M Damodaran Non-Executive

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and Non

Independent

Director6 Philipee Damas Additional Director 7 Ramakrishnan Subramanian Director

8 Richard Cox Additional Director 9 Ryan Andrew Padgett Director

10 Santosh Ramesh Desai Additional director 11 Vaughn Nigel Richtor Managing Director

and Chief

Executive Officer

12 Wilfred Nagel Additional Director

Synopsis

Title Awareness of ING-VYSYA in Bareilly

Objective To do the market analysis of the Bareilly city

and to make aware the people of Bareilly about ING Bank

Null Hypothesis (H0). ING Bank is not better than other

banks present in Bareilly.

Alternate Hypothesis (H1). ING Bank is better than other

banks present in Bareilly.

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Research technique

Conclusive research

This type of research helps in reaching certain

conclusions and also in taking decisions.

Some facts about ING-Vysya bank

ING-Vysya bank branches works on profit centre

Around 500 branches in India and 13 in Uttar-

Pradesh.

Bank

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Assets Liabilities

A thing for which

one is responsible


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Fee Income Products

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A thing owned by

a someone

having somevalue

CASA OthersTD/FD

Current

account

Savings

account

Fixed

Depoits

Term

deposits

Fee Income

products

Lockers

Life Insurance General

Insurance

Mutual Funds Portfolio

management

service


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Products

Orange Savings Bank Account

Key Features:

Quarterly Average Balance (QAB) of Rs. 5000/-

Free issue of the International Debit Card.

Shopping convenience at over 2 Lakh merchant

locations, with the ING Vysya International Debit

card.

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Demataccount


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Free Unlimited ATM transactions at over 25,000

(Cirrus/Cash net) ATM's in India, where QAB is

maintained.

Free Unlimited ATM transactions at over 196 ING

Vysya ATM's.

Free 2 Demand Drafts with a value not exceeding

Rs. 50,000 per annum, where the QAB is maintained.

Free Unlimited usage of payable at par (PAP)Cheques.

Free Transfer of funds across all branches.

Free National Electronic Funds Transfer (NEFT)

through the internet banking channel.

Free Electronic Bill Payment service

Free Smartserv - Personal Assistance Service

Free Statement of Account through E-mail.

Free Mi-b@nk - Internet banking facility.

Free RTGS (Real Time Gross Settlement)

transactions at all branches.

Free AAA Cash deposit (Customers) - Free up to 2

transactions per month and a value limit of Rs.

50,000/-.

Free Up gradation from any other savings account of

the Bank to the Orange Savings Account at no

additional cost.

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Benefits:

Free unlimited access to 25,000+ other bank ATMs -

enhanced accessibility.

Free Multi branch, Multi-city banking convenience.

Payable at par Cheques.

Smartserv Personal Concierge Services

Eligibility:

Individuals above the age of 18.

Upwardly mobile tech savvy professionals,

entrepreneurs in metros and urban areas.

Guardians on behalf of minors.

Salaried individuals.

Trusts / Societies and Charitable Institutions

Advantages Salary Account

Key Features:

Zero Balance Account.

Free Unlimited ATM transactions on the ING Vysya

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AAA Cash deposits are restricted to two transactions

with a value not exceeding Rs. 50,000/- per month.

Benefits:

The quarterly average balance of Rs. 5000/- is

waived as long as the employee is employed with the

corporate. (Zero Balance Account). Enhanced Accessibility - Unlimited access to ING

Vysya and Corporation Bank ATMs and 6

transactions at Cirrus ATMs per month.

Free multi-city, multi-branch banking convenience.

Minimum documentation supported by an official

communication from the corporate.

No restriction in the number of transactions in the

account

Eligibility:

The minimum number of employees of the corporate,

whose salary accounts are to be opened, should be

10.

The average salary credit in to the employees

orange salary account should be equal to or higher

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than Rs. 10,000/- per month.

Where there is a joint account holder, the normal

KYC norms need to be adhered to for the joint

account holder

Preferably corporate to have a current account with

ING.

Orange Salary Account

Key Features:

Zero Balance Account. (QAB requirement of Rs.

5000/- reduced to zero)

Free Unlimited ATM transactions on the ING Vysya

ATM network and Corporation Bank ATM

network.

Free unlimited ATM transactions at 25,000 (Cirrus)

ATMs.

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Free ING Vysya International Debit Card

Re-issue charged at Rs. 200/- per request.

Shopping convenience at over 200,000 merchant

locations.

Free issue and unlimited usage of Payable at Par

cheque books.

Free transfer of funds across all the branches of ING.

Free Personal Assistance Service - Smartserv at

select centres.

Free Bill Pay service at select centres.

Free statement of account through e-mail.

Internet banking facility. (Mi-b@nk)

Free Customer Service Line.

Free joint account status with one other family

member.

Adhoc Checkout* (Temp Overdraft) to an extent of 50

% of the last salary credit charged at 18 % for the

number of days overdrawn. Service Charge of

Rs.100/- for every month that the account is

overdrawn.

Free for life Credit Card based on Customers

eligibility

AAA Cash deposits are restricted to two transactions

with a value not exceeding Rs. 50,000/- per month

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Benefits:

The quarterly average balance of Rs. 5000/- is

waived as long as the employee is employed with the

corporate. (Zero Balance Account).

Enhanced Accessibility - Unlimited access to ING

Vysya, Corporation Bank and Cirrus ATMs

Enhanced Accessibility - Unlimited access to ING

Vysya, Corporation Bank and Cirrus ATMs

Minimum documentation supported by an official

communication from the corporate.


account.

Privileged Customer status for retail loan products.

Eligibility:

The minimum number of employees of the corporate,

whose salary accounts are to be opened, should be

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20.

The average salary credit in to the employees

orange salary account should be equal to or higher

than Rs.20,000/- per month.

Where there is a joint account holder, the normal

KYC norms need to be adhered to for the joint

account holder.

Preferably corporate to have a current account with

ING.

Solo Savings Account

Key Features:

Quarterly Average Balance - Rs. 500/- to be

maintained in the account.

Penalty for non-maintenance of QAB will be Rs. 150/-

per quarter.

Free International Debit Card, above 18 years of age,

which affords shopping convenience at over 90,000

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shopping outlets across the country.

Free & unlimited access to all ING ATM's.

Free 30 transactions per annum at HDFC & Corp

Bank ATM's.


Free Fund transfers within the Profile network

through E-banking channels.

Internet Banking through Mi-b@nk.

Free access to the Customer Service Line.

Personalized Chequebook above 18 years of age.

Smartserv & SMS Alerts at Rs. 100/- per annum.


account. Bill Pay facility.

Financial transactions at the branch will be charged

at Rs. 50/- per transaction.

In the course of normal operations, if the account is

overdrawn, interest will be charged at 13 % per

annum, for the number of days overdrawn.

Demat Account for electronic storage of shares.

Benefits:

Student's first initiation into empowered banking -

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Mi-b@nk - Internet banking facility

Customer Service Line facility

Conversion from other type of accounts to the

Freedom Savings Account is not allowed.

Annual Maintenance Charge of Rs.1000/- + taxes to

be collected in advance, upfront from the Customer

every year.

Benefits:

Customers can use up to the last penny in their

account.

No unexpected service charges for non-maintenance

of balances.

Free limited access to over 20,000+ other banks

ATM's every month - enhanced accessibility.


Eligibility:


Upwardly mobile tech savvy professionals,

entrepreneurs in metros and urban areas.


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Trusts / Societies and Charitable Institutions

General Savings Account

Key Features:

Quarterly Average Balance of Rs. 5000/- to bemaintained in the account.

Service charge for non-maintenance of the quarterly

average balance is Rs. 200/- + taxes per quarter.

Free Unlimited ATM transactions on all ING Vysya

ATM's.

Shopping convenience at over 200,000 merchant

locations, with the ING Vysya International Debit

card.

Free International Debit Card for the first year, with a

renewal fee of Rs. 150/- from the second year.

Free Electronic Bill Payment service -at select

centres.

Free Transfer of funds across all networked

branches. (AAA Banking)

Free Statement of Account through E-mail at no

charge.

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Free issue of Personalized chequebooks.

Mi-b@nk - Internet banking facility.

Free Customer Service Line facility.

Benefits:

Basic banking account without any frills.

Service charge for non-maintenance of QAB is only

Rs. 200 + taxes per quarter.


Eligibility:


Upwardly mobile tech savvy professionals,entrepreneurs in metros and urban areas.



Trusts / Societies and Charitable Institutions.

Saral Savings Account

Key Features:

Quarterly Average Balance of Rs. 200/- to be

maintained in the account.

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Penalty for non-maintenance of QAB will be Rs. 45/-

per quarter.

Free issue of personalized chequebook.

Free 4 Cash transactions per month at the base

branch through withdrawal slips.

Over and above 4 transactions per month, every

additional transaction during the month will be

charged at Rs. 20/- per transaction. Free annual Statement of Account.

Additional value added services at a cost:

Debit Card - Rs. 100/- per annum.

Internet Banking - Rs. 100/- per annum.

Customer Service Line - Rs. 100/- per annum.

All AAA cash deposits and withdrawals are charged

at Rs. 50/- per transaction.

Adhoc / Additional statement of accounts will be

charged at Rs. 50/- per transaction.

Up gradation from any other savings account of the

Bank to the Orange Savings account at no additional

cost.

Benefits:

Very low quarterly average balance.

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Basic banking facilities - with a view of financial

inclusion.

For the reach of banking facilities to a vast section of

the population.

Benefits of technology extended at a negligible cost

Eligibility:


Customers at Rural & Semi Urban locations.


Any individual.

Trusts / Societies and Charitable Institutions.

Formula Savings Account

International Debit card

Recognized the world over

The ING Formula debit card is accepted at over 23

million* merchant establishments worldwide,

including 1,10,000* merchant establishments in India

(*information basis MasterCard)

Race anytime, anywhere

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Now you dont need to carry around large amounts

of cash to shop, travel or entertain. Whether your

purchase is planned or on impulse, all you need isyour ING Formula debit card

Easy pit stops

Need cash? Just step into any one of our ATMs or

member ATMs and withdraw cash up to Rs. 50,

000/- a day from ING ATM

Whats more, utilize this facility at over 25,000 ATMs

across the country, free of charge.

Safety Car

The debit card in your hands is the safest way to

transaction

Special Benefits card

Fuel Gauge

Fill fuel across any petrol pump in India and get

the 2.5% surcharge waived

Speed Lap

Shop using your ING Formula savings account

and get Formula One merchandise. Refer to the

rewards catalogue in your usage guide.

Depending upon which item you are interested in

use your ING Formula debit card to shop for the

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required amount fill in the details on the form and

send it to us for us to send you the Formula One

merchandise absolutely free.

Race Day

Whenever there is a Formula 1 race anywhere in

the world, there is a race for you as well. Shop

using your ING Formula debit card on the day of

the race and top 25 spenders for the race day wins

vouchers from ING

3 winners Gift vouchers worth Rs 5000/-

10 runner ups Gift vouchers worth Rs 2000/- 12

second runner ups Gift vouchers worth Rs

1000/-

12 second runner ups Gift vouchers worth Rs 1000/-

Benefits

1) Formula 1 International Debit card

2) Free Payable at Par cheques

3) Exclusive F1 themed, Internet Banking services

4) Free sms alerts on transactions above Rs1,500

Eligibility

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Individuals above the age of 18.Guardians on behalf

of minors.



Average Quarterly balance amount of Rs25000/- to

be maintained

ING Positive LifePositive Life is a non-medical unit linked insurance plan

for just Rs. 834/-* per month. Now you can meet all your

personal goals and aspirations with ease. With ING Life

Insurance you can truly experience the joy of living a

positive life.

Key Benefits of Positive Life:

Avail the benefits of Systematic Investment by

paying your premiums at pre-determined intervals.

Convenient policy terms of 10, 15 and 20 years

allow you to match your life goals to the policy terms.

Free Unlimited ATM transactions in over 25,000

(Cirrus) ATMs in India.

Flexible premium paying terms allows you to

choose the period you wish to pay, starting from a

minimum of 3 years.

Choice of flexible investment options based on

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individual risk preferences.

Simple documentation and easy processing of the

policy.

Key Benefits

Limited Premium Payment

Flexible investment options

Systematic Investment benefit

Eligibility

Minimum entry age: 0 years

Maximum entry age: 50 years

Policy Term

Policy term can be 10, 15 or 20 years

Premium Payment Terms

Minimum of 3 years upto the policy term

ING Platina & ING Formula Savings

Accounts

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http://void%280%29/http://void%280%29/


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Details

Service Charges/Amount

ING PlatinaAccount

ING Formula

Savings

Account

Quarterly Average Balance (QAB*) Requirement

1.Requirement to

maintain Platina

status

2.Requirement to

avoid non-

maintenance

charges

3.*Quarterly

Average

Balance(QAB)

Requirement

Rs.1,00,000/-

Rs.5,000/-

NIL

NIL

NIL

Rs.25,000/-

Service Charges for Non-Maintenance of Quarterly Average

Balance (QAB)

1.First two calender

quarters if QAB > =

Rs. 5,000/-

2.First two calender

quarters if QAB 1500000 2

Table 15: Categorization of respondents on the basisof Education

96

Under-Graduate 5

Graduate 85Post-Graduate 10

96

2

25

65

6 21500000


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Table 16: General impression of the respondents

about

ING-Vysya Bank

High Quality services &

Reliability

5

Average quality services

& Dependability

90

Low quality services & 5

97 97

5

85

10

UG

Graduate

PG


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4. The network of ING in Bareilly is lagging behind a

little than its competitors like ICICI bank and HDFC

bank.5. It can be distilled from data that ING bank has good

market share as compared to its competitors

considering the amount of resources deployed by

them in the market.

6. It has a very good potential to have the new

customers especially the youth because it has the

Formula a/c, which is very much liked by the youth in

the other cities.

7. Most of the residents of Bareilly dont know about the

establishment of ING-Vysya Bank in Bareilly.

8. Most of the persons having contacts in big cities

know about ING-Vysya Bank very well and also the

products.

9. ING-Vysya Bank is providing more facilities to its

customers in comparison to other banks such as

hospital scheme, investment scheme etc10. Locker facilities in ING-Vysya Bank are more

modernized in comparison to other banks.

11. Commercials of ING-Vysya Bank have a very

deep impact on the minds of people. Even they can

remember the name after the 15 days of the telecast

of the commercials on television.

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12. Operating time for cash counter is from 10 in the

morning till 6 in the evening. This is much more than

any other bank in Bareilly.13. ULIP plans are beneficial from the long-term

perspective whereas customer should invest in

mutual funds if he wants quick returns.

14. Most of the market is still unaware about the ULIP

plans and hence by making proper promotional

strategy companies can increase there sales.

Findings

1.ING bank has potential a tapped market in Bareilly

and hence has opportunities for growth.

2.The products of ING bank have good credibility in the

region compare to its competitors.

3.The advertisement of the bank was very effective

from the first day of its airing till the fifth day and there

after it starts declining.

4.The initial balance for A/C opening is Rs, 5000/- and

thats why people are reluctant in opening the same.

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5. ING is very much compliance to follow the KYC

norms.

6. The size of the locker provided by the ING-VysyaBank is big in size as compared to other

banks.

7. The residents of Bareilly like the products of ING-

Vysya Bank. Most of them need some change. So, they

can be the new potential customers for ING Bank.

8. Even today, the people of Bareilly believe in the

government banks. For them, ING Bank is a private bank.

Recommendations

1) More resources should be allocated in the market of

Bareilly as there is big untapped market in Bareilly, so it

becomes necessary for ING bank for taking an edge over

the competitors.

2) A short advertising campaign in Bareilly has produced

good results in a short span of times, so to gain long term

benefits is very necessary for ING bank to carry on thiscampaign with more intensity.

3) Besides opening more branches it should also look for

opening some extension counter in D.D.Puram.

4) As a number of colleges are going to be opened in

Bareilly in the next few years, so ING should try to gain

some contacts with these colleges.

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5) Most of the people in Bareilly wants that they should not

stand in queue in bank . If we can convince them on this,

than this can open a vast potential market for ING Bank inBareilly.

6) The cash withdrawal time can be one of the aspects to

gain popularity in Bareilly.

7) The benefits provided by the ING Bank to its customers

should be advertise so that people can understand that

customers satisfaction is the main aim for the persons

working in ING.

8) The businessman should be convinced on the cash

operating time. This makes ING to tap the huge market of

Bareilly.

LIMITATIONS

1. The sample size is very less, hence the responses of

just 100 respondents does not imply for the complete

population.

2. There was lack of time and resources that prevented

from carrying out an in depth study.

3. The findings of the survey are based on the subjective

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500000-1000000

>1500000

9)Your current Bank __________________________

10) What products/services you are presently availing

Saving a/c Mutual Fund

Current a/c SIP

FDR Equity

Life Insurance Lockers

Demat a/c Credit card

Loans

11) How happy you are with the services provided by

your existing bank.

Highly satisfied

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Satisfied

Neither satisfied nor dissatisfied

Dissatisfied

Highly dissatisfied

12) Before this survey, how often had you heard of

ING Vysya Bank Ltd.

Ive never heard before

Ive seen or heard a few times

I see or hear frequently

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If yes, then please specify

_____________________________

16) What kind of banking services you generally wish

to use

High priority services

Preferred services

Normal services

17) In which form of investment you invest the most

FDR Equity

Mutual Funds Shares

SIP Gold

Life Insurance Government

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preferences (Please rate on 1-5 scale)

Safety/Security

Operating Time

Rental/Safety charges

Locker Size

Parking Space outside Bank

21) Please give us some references

______________________________________________

____________________________________________________________________________________________

______________________________________________

______________________________________________

______________________________________________

______________________________

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BIBLIOGRAPHY

1) www.ingvysyabank.com

2) www.google.com3) R.S. Sharma, Business statistics, First India Print,

India, 2004,

4) Aaker Kumar and Day, Marketing research, 6th

Ed.,john willy & sons,1997.

5) ICFAI Journal of Banking

6) The Economics times

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7) The Times of India

ING Vysya Summer Training Report

Documents

Transcript of ING Vysya Summer Training Report