PRESTIGE INSTITUTE OF MANAGEMENT AND RESEARCH INDORE (M.P)

PRESTIGE INSTITUTE OF MANAGEMENT AND RESEARCH INDORE (M.P)Summer Training Report On AXIS BANK Comparative Analysis of AXIS BANKS Products and Services With Other Banks

Submitted in partial fulfillment of the requirement of Under Graduate Program (UG)

Submitted By: - Submitted To:-Harpreet Kaur Prof. Khushboo BBA 4th Sem. Makwana ACKNOWLEDGEMENTThe successful completion of any task remains incomplete without mentioning the people who make it possible.These are the people who constant guidance in several aspects of this report has made my work successful. I feel delighted to express a few words of gratitude and response to all those distinguished personalities who have guided and inspired me for the successful completion of this report. I deeply indebted to my industry guide for giving me the opportunity to do this project under his guidance.I express my sincere gratitude for the continuous guidance and encouragement that he has provided me to carry out the project work. I have gratification in expressing my sincere thanks to my faculty guide for providing the necessary advice and support during the course of this work.Last, but not the least certainly, I pay thanks to my family members and to all my friends who have helped me directly or indirectly during the completion of work.

PREFACEThis report is the outcome of four weeks of exhaustive training at AXIS BANK, JHANSI. The idea and intension of taking training in this field came up to me because of tremendous changes in banking services.These days presences of banking as services industry for anyone is must and no individual can ignore it. To have an insight on this emerging domain of BANKS in India and its potentials as a career led me to AXIS to do my summer project in this field. The purpose of training was to provide practical exposure of working environment, along with learning of operational aspects of banking industry and the role managers play in the sectors.During my training the task assigned to me was Comparative analysis of axis banks products and services with other banksIt had been an enriching and experience that gave me immense knowledge and brief insight of a banking industry.

EXECUTIVE SUMMARYThe banking sector in India has become very much competitive in last few years with the increasing growth of private and public sector banks. Day by day the competition is most stringent and crucial .I undertook training in AXIS bank limited for profiling to understand the banking operation and services provided by axis bank. This project is basically formulated to make a comparison of the products and services being provided by the different banks like ICICI and HDFC bank leveling with the presences of AXIS BANK. The marketing needs are continuously changes and so are the needs of products and services. So this project also represents the basic facilities being provided by the banks and help the required people make their decision while choosing a bank for their products and services.The study evolves an attempt to bring forward the various facilities being provided by the top privatized banks. Also the significance of AXIS BANK has been brought forward in the report.AXIS bank was established in and is working with the larger assets side in private sector banks. It is one of the fastest growing banks in the country and has an extremely competitive and profitable banking franchise evidenced by:Comprehensive portfolio of banking services including Corporate Credit, Retail Banking, Business Banking, Capital Markets, Treasury and International Banking.The key learning that I learnt was the fact that I saw the real corporate world. What is the pressure that each employee faces each day? I was working in a professional working environment with professional working people. This was my real learning. Apart from that I worked on real projects, learned the product and services of the bank. I also learned how to communicate with different types of clients.I would thank AXIS BANK to give me such an immense opportunity to work with them. I learned there working and functioning of the bank. Axis bank is one of the fastest growing banks in India and has extremely competitive and profitable banking franchise. Axis bank is the first new generation private sector bank to be established in India under the overall reform programmers initiated by Government of India in 1991. Axis bank started its operation in 1994.

TABLE OF CONTENTSTOPICS:-COMPANY STUDY1. Introduction2. History of Bank3. Industry Profile (Indian Banking System)4. About AXIS bank5. Organization Structure6. Products and Services7. Competitors PROJECT REPORTComparative analysis of axis banks product and services with other banks 8. Introduction 9. Objective 10. SWOT Analysis 11. Data Analysis 12. Results & Findings 13. Recommendations & Suggestions 14. Conclusion 15. Limitation of the study 16. Reference

INTRODUCTION

Banking in India is developing in leaps and bounds which have made it to map new heights since it came into existence in eighteenth century. With advent of technology in banking, the banks in India have come up with even more advanced products which they offer to citizens of the country. Though the banking is improving in India, yet there are many challenges which the banking industry needs to meet ahead.The corporate and the business world is always the back bone of any nation. So the banking sector has always given its best to provide the same with the best available services to make the purpose futile. Herby in this report a comparative study of products and services are studied by me so as to bring forward the services being provided by the bank.

HISTORY OF BANKThe first bank in India, though conservative, was established in 1786. The journey of Indian Banking System can be segregated into three distinct phases.PHASE - 1 (1786 to 1969) 1786 - The General Bank of India Next came Bank of Hindustan and Bengal Bank. The East India Company established Bank of Bengal (1809), Bank of Bombay (1840) and Bank of Madras (1843) as independent units and called it Presidency Banks. These three banks were amalgamated in 1920 and Imperial Bank of India was established which started as private shareholders banks. In 1865 Allahabad Bank was established and first time exclusively by Indians, Punjab National Bank Ltd. was set up in 1894 with headquarters at Lahore. Between 1906 and 1913, Bank of India, Central Bank of India, Bank of Baroda, Canara Bank, Indian Bank, and Bank of Mysore were set up. Reserve Bank of India came in 1935. During the first phase the growth was very slow, Banks also experienced periodic failures between 1913 and 1948. There were approximately 1100 banks, mostly small, The Government of India came up with The Banking Companies Act, 1949 which was later changed to Banking Regulation Act 1949 as per amending Act of 1965 (Act No. 23 of 1965). Reserve Bank of India was vested with extensive powers for the supervision of banking in India as the Central Banking Authority.PHASE - 2 In 1955, it nationalized Imperial Bank of India with extensive banking facilities on a large scale specially in rural and semi-urban areas. It formed State Bank of India to act as the principal agent of RBI 7 Banks formed subsidiary of State Bank of India were nationalized. It was the effort of the then Prime Minister of India, Mrs. Indira Gandhi. 14 major commercial banks in the country was nationalized. The branches of the public sector bank India rose to approximately 800% in deposits and advances took a huge jump by 11,000%.

PHASE - 3 This phase has introduced many more products and facilities in the banking sector in its reforms measure. In 1991, under the chairmanship of M Narasimha , a committee was set up by his name which worked for the liberalization of banking practices. The country is flooded with foreign banks and their ATM stations. Efforts were being put to give a satisfactory service to customers. Phone banking and net banking was introduced. The entire system became more convenient and swift. Time was given more importance than money.

INDUSTRY PROFILE INDIAN BANKING SYSTEM

ABOUT AXIS BANK

VISSION & MISSION VISSION: - To be the preferred financial solutions provider excelling in customer delivery through insight, empowered employees and smart use of technology.

MISSION: - Customer service and product innovation tuned to diverse need of individual and corporate clients and continuous technology up gradation while maintaining human values.CORE VALUES Customer Satisfaction through :- Providing quality service effectively and efficiently. Smile, it enhances your face value is a service quality stressed on. Periodic Customer Service Audits.

Maximizations of Stakeholder value

Success through Teamwork, Integrity and People

ORGANIZATION STRUCTURE

Board of Directors Dr. Sanjiv Misra (Chairman) Shikha Sharma (MD & CEO) K.N. Prithviraj (Director) V. R. Kaundinya (Director) S.B Mathur (Director) Prasad Menon (Director) Rabindranath Bhattacharyya (Director) Prof. Samir K Barua (Director) Som Mittal (Director) Ireena Vittal (Director) Rohit Bhagat (Director) V Srinivasan (Executive Director) Somnath Sengupta (Executive Director) Smt.Usha Sangwan (Director)The board includes the following:-1. Committee of Directors Credit committee and investment Committees Asset-Liability committee (ALCO)2. Risk Management Committee of the Board Operation risk management committee (ORMC) Credit risk management committee3. Audit committee Committee of executives

PRODUCT AND SERVICESPRODUCTS Investment Banking Corporate Banking Retail Banking Private Banking Investment Management Mortgage Loan Credit Card SERVICESAxis Bank operates in four segments:Treasuryoperations,Retail banking,Corporate/Wholesale bankingand other banking business.Treasury operations: The Banks treasury operation services include investments in sovereign and corporate debt, equity and mutual funds, trading operations, derivative trading and foreign exchange operations on the account, and for customers and central funding.Retail banking: In the retail banking category, the bank offers services such as lending to individuals/small businesses subject to the orientation, product and granularity criterion, along with liability products, card services, Internet banking,automated teller machines(ATM) services, depository, financial advisory services, andNon-resident Indian(NRI) services.Corporate/wholesale banking: The Bank offers to corporate and other organizations services including corporate relationship not included under retail banking, corporate advisory services, placements and syndication, management of public issues,project appraisals,capital marketrelated services andcash managementservices.NRI services: Products and services for NRIs that facilitate investments in India.Business banking: The Bank accepts income and other direct taxes through its 214 authorized branches at 137 locations and central excise and service taxes (including e-Payments) through 56 authorized branches at 14 locations.Investment banking: BanksInvestment Bankingbusiness comprises activities related toEquity Capital Markets,Mergers and Acquisitionsand Private Equity Advisory. The bank is aSEBI-registered Category IMerchant Bankerand has been active in advising Indian companies in raising equity throughIPOs,QIPs, andRights issuesetc. During the financial year ended 31 March 2012, Axis Bank undertook 9 transactions including 5 IPOs and 2 Open Offers.Lending to small and medium enterprises: Axis BankSMEbusiness is segmented in three groups: Small Enterprises, Medium Enterprises andSupply Chain Finance. Under the Small Business Group a subgroup for financingmicro enterprisesis also set up.Axis bank is the first Indian Bank having TCDC cards in 11 currencies.Agriculture banking: 759 branches of the Bank provide banking services, including agricultural loans, to farmers.As on 31 March 2013, the Banks outstanding loans in the agricultural sector was INR 148 billion, constituting 7.5% of its total advances.

COMPETITORSThe two main competitors of axis bank are as follows:- HDFC Bank ICICI Bank

PROJECT

COMPARATIVE ANALYSIS OF AXIS BANKS PRODUCTS AND SERVICES WITH OTHER BANKS

INTRODUCTIONAXIS BANK The AXIS Bank is a leading private sector bank and financial services company in India offering a wide range of products and services to corporate and retail customers through a variety of delivery channels. Since commencing operations in April 1994 the Bank has grown both in terms of its physical network of branches, extension counters and ATMs, as well as in terms of the size of asset base. The Bank's ATM network of 3,595 ATMs is the third largest in the country. The Bank has a wide presence through its 835 Branches & Extension Counters across 515 cities and towns across India.

AXIS Bank Corporate Office The Axis Bank Corporate Office in Mumbai (also known as the Axis House), received the Platinum rating by the US Green Building Council for its environment friendly facilities and reduction of carbon emission.

International Branches Singapore Hong Kong Dubai Shanghai Colombo

OBJECTIVES1. Consumer awareness about the products and services provided by the axis bank.

2. Consumer preference about various products and services.

3. Customer satisfaction with the service provided by the bank.

4. Draw out with conclusions and suggestion based on the analysis and the interpretation of data.

SWOT ANALYSIS Strength Axis bank has been given the rating as one of top three positions in terms of fastest growth in private sector bank. The bank has its presence in 1139 cities and towns. The banks financial positions grow at a rate of 20% every year which is a major positive sign for any bank.Weakness Lesser no. of branches compared to its competitors. Image of the bank still under the shadow of the UTI debacle.Opportunity Expansion in rural areas. Going to foreign markets and exploring the new economies.Threats New banking licenses issued by the Reserve Bank Of India. Foreign banks. Competitors

DATA ANALYSISKINDS OF ACCOUNT AVAILABLE IN AXIS BANK Saving account -39% Fixed deposit-28% Current account-23% Others-10%

STATUS OF SALARY/SAVING ACCOUNTS OF AXIS BANKVery good-18%Good-46%Excellent-7%Satisfactory-29%

PRODUCT OF AXIS BANK OTHER THAN SALARY/SAVING ACCOUNTYes-69%No-31%

DIFFERENT CHANNELS USED TO ACCESS ACCOUNTDirect branch-39%Mobile branch-16%Net banking-26%Phone banking-19%

DIFFERENT BANKS AND THEIR EASE OF ACCESS (BRANCH & ATM)AXIS bank-26%HDFC bank-41%ICICI bank-33%

DIFFERENT BANKS AND THEIR FLEXIBILITY IN ITS PRODUCTSAXIS bank-25%HDFC bank-44%ICICI bank-31%

DIFFERENT BANKS IN PROVIDING SERVICES REGARDING TRANSACTIONSAXIS bank-38%HDFC bank-28%ICICI bank-34%

AREA OF IMPROVEMENT FOR AXIS BANKProducts-23%Services-27%Technology-17%Updates-33%

IN COMPARISON TO OTHER BANKS RATING OF AXIS BANKExcellent-22%Good-37%Average-21%Poor-14%Cant say-6%

EXPECTATIONS OF COSTUMERS WHILE OPENING AN ACCOUNT IN A BANKQuick services-29%Proper information-22%Working hours-19%Fewer Formalities-24%Variety of products-6%

RESULTS & FINDINGS

The bank has good relation with its customers. The customers are satisfied with the relationship manager service provided by Axis Bank. The bank and its customers have a long term relationship. Axis Bank has the tendency to retain its customers at any cost. They believe that the old customer is more profitable instead of a new one thats why they try to maintain good and long term relations to their customers. Less no. of customer use mobile banking or net banking. The accounts of these three banks dont have much difference in terms of features but when it comes to number of branches and ATMs HDFC Bank is ahead of the Axis Bank. The customers of Axis Bank are satisfied with their savings and salary accounts.

RECOMMENDATION & SUGGESTIONS

AXIS Bank needs to promote and encourage people to use internet banking. In terms of ease of access AXIS Bank needs to increase the number of ATMs. The Bank should be more flexible in order to compete with its competitors like HDFC, ICICI. Mostly service class persons prefer the axis bank in the comparison of business and students and other class persons thus it needs to promote its product and services that are offered mainly for the business class people and students. Because these two class forms major users of the banking services.

CONCLUSION

The study mainly was on the customer orientation that how they think, what they want from their banks and how they take decision going to any bank. In this study I found that the bond of Axis Bank with its customers is good, because Axis Bank mainly focuses on retaining their customers. This study finds that however Axis Bank is not the leading private sector bank but its vast range of products and availability of options make it one of the better banks in India. The bank should pay more attention on giving updates and should increase the level of service providing because the competitors of axis are better in this area. The bank should try to increase the use of technology like mobile and net banking among its customers.

LIMITATIONS OF STUDY

The study was based on a very modest sample size hence cannot be called as a representation of the views and opinion of the majority.

In a rapidly changing industry, analysis on one day or in one segment can change very quickly. The environmental changes are vital to be considered in order to assimilate the findings.

REFERENCES www.axisbank.com www.google.com www.finance.india.mart.com Journals & Broachers of axis bank Business and economics magazine Economic times

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