Final Report On

8/14/2019 Final Report On

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FINAL REPORT

ON

SUBMITTED TO: SUBMITTED BY:

MR SHAMMI KUMAR SURBHI

GERA

FACULTY GUIDE 7NBDH045


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ACKNOWLEDGEMENT

I wish to acknowledge my indebtness and gratitude to the contributions of people

who helped me at every stage of the report.

I would very much like to express my gratitude and propoundsthanks to faculty members for their continues guidance,invaluable suggestions and constant motivation without which itwould not have been possible for me to complete themanagement thesis successfully.

I want to extend my humblest thanks to all the employees of

HDFC BANK LTD Respondents and my friends who participated in

process and supported me with their sweet co-operation and

constant motivation that helped me to complete my report

successfully.


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CERTIFICATE


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CONTENT

1. About HDFC....3

2. Objective..9

3. Targets..11

4. Strategy12

5. Achievements...13

6. Mid Course Correction.14

7. Learning15

8. Limitation.16

9. Conclusion17


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INDUSTRY PROFILE

Banks safeguard money and valuables and provide loans, credit, and payment

services, such as checking accounts, money orders, and cashiers checks. Banks

also may offer investment and insurance products, which they were once

prohibited from selling. As a variety of models for cooperation and integration

among finance industries have emerged, some of the traditional distinctions

between banks, insurance companies, and securities firms have diminished. In

spite of these changes, banks continue to maintain and perform their primary role accepting deposits and lending funds from these deposits.

Goods and services. Banking is comprised of two parts: Monetary Authorities

Central Bank, and Credit Intermediation and Related Activities. The former

includes the bank establishments of the U.S. Federal Reserve System that manage

the Nations money supply and international reserves, hold reserve deposits of

other domestic banks and the central banks of other countries, and issue the

currency we use. The establishments in the credit intermediation and related

services industry provide banking services to the general public. They securely

save the money of depositors, provide checking services, and lend the funds raised

from depositors to consumers and businesses for mortgages, investment loans, and

lines of credit.

Industry organization. There are several types of banks, which differ in the

number of services they provide and the clientele they serve. Although some of the

differences between these types of banks have lessened as they have begun to

expand the range of products and services they offer, there are still key


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distinguishing traits. Commercial banks , which dominate this industry, offer a full

range of services for individuals, businesses, and governments. These banks come

in a wide range of sizes, from large global banks to regional and community banks.

Global banks are involved in international lending and foreign currency trading, inaddition to the more typical banking services. Regional banks have numerous

branches and automated teller machine (ATM) locations throughout a multi-state

area that provide banking services to individuals. Banks have become more

oriented toward marketing and sales. As a result, employees need to know about

all types of products and services offered by banks. Community banks are based

locally and offer more personal attention, which many individuals and small businesses prefer. In recent years, online bankswhich provide all services

entirely over the Internethave entered the market, with some success. However,

many traditional banks have also expanded to offer online banking, and some

formerly Internet-only banks are opting to open branches.

Savings banks and savings and loan associations , sometimes called thrift

institutions, are the second largest group of depository institutions. They were firstestablished as community-based institutions to finance mortgages for people to

buy homes and still cater mostly to the savings and lending needs of individuals.

Credit unions are another kind of depository institution. Most credit unions are

formed by people with a common bond, such as those who work for the same

company or belong to the same labor union or church. Members pool their savings

and, when they need money, they may borrow from the credit union, often at a

lower interest rate than that demanded by other financial institutions.

Federal Reserve banks are Government agencies that perform many financial

services for the Government. Their chief responsibilities are to regulate the


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banking industry and to help implement our Nations monetary policy so our

economy can run more efficiently by controlling the Nations money supplythe

total quantity of money in the country, including cash and bank deposits. For

example, during slower periods of economic activity, the Federal Reserve may purchase government securities from commercial banks, giving them more money

to lend, thus expanding the economy. Federal Reserve banks also perform a variety

of services for other banks. For example, they may make emergency loans to

banks that are short of cash, and clear checks that are drawn and paid out by

different banks.

Interest on loans is the principal source of revenue for most banks, making their

various lending departments critical to their success. The commercial lending

department loans money to companies to start or expand their business or to

purchase inventory and capital equipment. The consumer lending department

handles student loans, credit cards, and loans for home improvements, debt

consolidation, and automobile purchases. Finally, the mortgage lending

department loans money to individuals and businesses to purchase real estate.

The money banks lend comes primarily from deposits in checking and savings

accounts, certificates of deposit, money market accounts, and other deposit

accounts that consumers and businesses set up with the bank. These deposits often

earn interest for their owners, and accounts that offer checking provide owners

with an easy method for making payments safely without using cash. Deposits in

many banks are insured by the Federal Deposit Insurance Corporation, which

guarantees that depositors will get their money back, up to a stated limit, if a bank

should fail.


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Recent developments. Technology is having a major impact on the banking

industry. Direct deposit allows companies and governments to electronically

transfer payments into various accounts. Debit cards, which may also be used as

ATM cards, instantaneously deduct money from an account when the card isswiped across a machine at a stores cash register. Electronic banking by phone or

computer allows customers to access information such as account balances and

statement history, pay bills, and transfer money from one account to another. Some

banks also have begun offering online account aggregation, which makes available

in one place detailed and up-to date information on a customers accounts held at

various institutions.

Advancements in technology have also led to improvements in the ways in which

banks process information. The use of check imaging allows banks to store

photographed checks on the computer instead of paper files. Also, the availability

and growing use of credit scoring software allows lending departments to approve

loans in minutes, rather than days.

Other fundamental changes are occurring in the industry as banks diversify their

services to become more competitive. Many banks now offer their customers

financial planning and asset management services, as well as brokerage and

insurance services, often through a subsidiary or third party. Others are beginning

to provide investment banking servicesusually through a subsidiarythat help

companies and governments raise money through the issuance of stocks and

bonds. As banks respond to deregulation and as competition in this sector grows,

the nature of the banking industry will continue to undergo significant change.


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COMPANY PROFILE

The Housing Development Finance Corporation Limited (HDFC) was amongst the

first to receive an 'in principle' approval from the Reserve Bank of India (RBI) to

set up a bank in the private sector, as part of the RBI's Liberalization of the Indian

Banking Industry in 1994. The bank was incorporated in August 1994 in the name

of 'HDFC Bank Limited', with its registered office in Mumbai, India. HDFC Bank

commenced operations as a Scheduled Commercial Bank in January 1995.

HDFC is India's premier housing finance company and enjoys an impeccable track

record in India as well as in international markets. Since its Inception in 1977, the

Corporation has maintained a consistent and healthy Growth in its operations to

remain the market leader in mortgages. Its outstanding loan portfolio covers well

over a million dwelling units. HDFC has developed significant expertise in retail

mortgage loans to different Market segments and also has a large corporate client

base for its housing related credit facilities. With its experience in the financialmarkets, a strong Market reputation, large shareholder base and unique consumer

franchise, HDFC was ideally positioned to promote a bank in the Indian

environment.

HDFC Bank is a young and dynamic bank, with a youthful and enthusiastic team

determined to accomplish the vision of becoming a world-class Indian bank.

The business philosophy is based on four core values

Customer Focus,

Operational Excellence,

Product Leadership and


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People.

They believe that the ultimate identity and success of our bank will reside in the

exceptional quality of our people and their extraordinary efforts. For this reason,we are committed to hiring, developing, motivating and retaining the best people in

the industry

HDFC Bank's mission is to be a World-Class Indian Bank. The Objective is to

build sound customer franchises across distinct businesses so as to be the preferred

provider of banking services for target retail and Wholesale customer segments,and to achieve healthy growth in profitability, consistent with the bank's risk

appetite. The bank is committed to maintain the highest level of ethical standards,

professional integrity, corporate Governance and regulatory compliance. HDFC

Bank's business philosophy is based on four core values - Operational Excellence,

Customer Focus, Product Leadership and People.

HDFC Bank is first among the new generation private sector banks to get banking

license as part banking liberalizations in mid-1990s. Starting operation in 1995, the

bank played a crucial role, along with ICICI Bank, in changing Indian banking

landscape. The bank is promoted by Housing Development Finance Corporation

Limited (HDFC), India's largest home finance company with a reputation for

professionalism. HDFC has its origin in 1977.HDFC Bank enjoys a premium

position among investors, with its shares commanding the highest price-earningsmultiple among the listed large banks. On a capital base of Rs 450 crore, HDFC

Bank has notched up a deposit base of Rs 68,300 crore and advances of 46,944

crore (as on March 31, 2007) in just 12 years of operation. The bank has a network

of over 684 branches and 1695 ATMs spread over 316 cities across India.
http://www.apnaloan.com/home-loan-india/index.htmlhttp://www.apnaloan.com/home-loan-india/index.html


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HDFC Bank has won the Outlook Money & NDTV Profit Best Bank award

in the private sector category.

HDFC Bank chosen as Best retail bank in India by the Asian Banker

Excellence.

Products Offered by HDFC Bank.

Saving Accounts.

Saving Account is the account in which a person saves money, in saving

account a person gets some rate of interest i.e 3.5% in HDFC Bank and

saving account are of various types they are as follows:

1. Saving Regular Account: In saving regular account a person has to

maintain a minimum balance of 2500/- and the initial payment is 5000/-

2. Saving Plus Account: In saving plus account a person has to maintain a

minimum balance of 10000/- and the initial payment is 10000/-

3. Saving Max Account: In saving max account a person has to maintain a

minimum balance of 25000/- and the initial payment is 25000/-

4. Senior Citizen Account: In senior citizen account a person has to

maintain a minimum balance of 2500/- and the initial payment is 2500/-

Current Account.


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Current Accounts are basically for businessmen. No rate of interest is there

on current accounts. Current Accounts are of various types they are as

follows:

1. Current Regular Account: In current regular account the minimum

balance which a person has to maintain is 10,000/-

2. Current Premium Account: In current premium account the minimum

balance which a person has to maintain is 25,000/-

3. Current Trade Account: In current trade account the minimum balance

which a person has to maintain is 40,000/-

4. Current Flexi Account: In current trade account the minimum balance

which a person has to maintain is 75,000/-

5. Current Plus Account: In current trade account the minimum balance

which a person has to maintain is 1, 00,000/-

6. Current Max Account: In current trade account the minimum balance


7. Current Apex Account: In current trade account the minimum balance


Demat Accounts.

Fixed Deposits.


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Fixed Deposits are of two types:

1. Sweep in FD: In case of sweep in FD the FD of the person is linked with

the customers account. The benefit of sweep in FD is that if the

minimum balance is less than average quarterly balance than the Sweep

in FD automatically breaks and the whole amount comes into the

account, with this benefit the customer doesnt have to pay the non

maintenance charges.

2. Sweep out FD: A sweep out FD is not there in every case there is two a/c

in which one can take sweep out FD they are Kids Advantage Account &Saving Max Account. In sweep out FD if a person is having an kids

advantage a/c and the balance is more than 5000 i.e if the balance is 5500

than automatically 5000 will go in FD and rest amount will be there in

a/c.


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ORGANIZATION STRUCTURE


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JOB ASSIGNEDOn the Job training assigned is to work as a senior sales officer in HDFC Bank Ltd.

Senior sales officer has to sell saving, current accounts, fixed deposit, demat, hsl,credit card, etc.


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SIP OBJECTIVE

The objectives of the Executive training are:

To avail an opportunity to apply the concepts learnt in classroomsituation.

To learn about the strengths and weaknesses in the corporateenvironment.

To enhance career prospects by the use of the platform provided by theexecutive training.

To develop the qualities required for a corporate executive.

To accomplish the desired targets through professionalism.

To enhance knowledge & gain practical experience.

To get rewards & appraisals by achieving targets on time.

To develop the qualities required for the manager.

To gain a direct exposure to execution and support functions of thecompany.

To overcome the obstacles faced during the achievements of the assigned

targets.

By the use of above mentioned objectives in the company of my internshipi.e. HDFC Bank Ltd, till now I have tried to apply the theoretical conceptsand fundamentals to the practical situations and have learnt how do they


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differ from each other. The concepts have also helped me in many of thedealings with the customers and have thus paved a better way to work.

Moreover, the practical environment has made me aware about the strengths

and weaknesses of the corporate culture. This practical learning has helpedme to deal with the customer directly and solve most of the queries of thecustomers. And thus I am in a position to handle my customers moreeffectively and efficiently by providing them a better service.

Further, the learning acquired by me during internship will help me increasecareer prospects by providing me with a better knowledge of corporateculture and will make me able enough to manage the customers efficiently.This will also help me to cope up with the stress during work and pressure

of corporate environment.

The main qualities required for an executive or a manager is leadership,initiative nature, managerial skills, focused approach, dedication,commitment towards work inquisitiveness, positive attitude, discipline anddecisive nature. All these qualities are being experienced and learnt by meduring this executive training as and when I get an opportunity to getexposed to corporate culture, professionalism, and by putting theoreticalconcepts learnt in the classroom for development of managerial skills.

Executive training gives direct exposure to execution and support functionsof the department with organizational culture, team dynamics, resultorientation, organizational pressure and complexities etc.


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TARGETS

The main objective of the executive training is to achieve the assigned targetsthrough utmost dedication, professionalism and use of theoretical concepts learnt

by me in the class room. The targets assigned to me by my Summer InternshipCompany i.e. HDFC Bank Ltd. is to sell 24 Saving /Current Accounts in total SIP,8 Accounts per month & 2 Accounts per week.

My Summer Internship started on 24 th of March. The first 2 weeks i.e. from 24 th

march till 31 st of March, I went under product training of HDFC Bank Ltd 1stApril onwards I started my field work and started selling saving / currentAccounts. No leads were given to us we have to directly approach to thecustomers, through which a direct interaction was there.


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Executive training helps the student intern to perform according to the targetassigned, which if achieved on a higher side result in a pre placement offer fromthe company. This often enhances portfolio of the student as well as adds value tohis career.

STRATEGY

The various strategies adopted by me to sell Saving and thus achieve my targetswere taken from the theoretical concepts embedded in the books of ICFAI

publications. The strategies are as follows:

Strategy 1: Strategy which I have adopted to achieve the targets.

Firstly I collected the contact numbers & name of customers whichcomes under my region. After collecting the contact numbers I send

the message to give them awareness regarding the product. We got

calls out of these customers which were interested to get more


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information about the product. This strategy really helped me to

achieve my targets.

Strategy 2: I used the policy to stand in front of ATM machines and

attend the existing customers to know their satisfaction from HDFC

Bank and to know their more requirements & then I personally meet

them to get more references. This strategy also helped me to achieve

my targets.

Strategy 3: Cold calling is another strategy which is adopted by me. In

this strategy I meet unknown customers in the market to know about

their perceptions about the product & to know through real

conversations about what they really want. Then we match our

product with the customers needs and preferences.

Strategy 4: Tele calling is another strategy adopted by me. In this

strategy I firstly call customers tells about the products offered by

bank if anyone is interested than fix ups an appointment. This strategy

also helped me to achieve my targets.

ACHIEVEMENTS

WEEKS WORK DONE

1st WEEK TRAINING


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2nd WEEK 2 Saving Accounts worth Rs 10000 & 2Fixed Deposit worth Rs 20000

3 rd WEEK 1 Saving Account worth Rs 5000 with 1Gold Card

4 th WEEK 1 Saving Account worth Rs 5000 & 1Demat Account

5 th WEEK 1 Fixed Deposit worth Rs 10000

6 th WEEK 1 Senior Citizen Account worth Rs 2500+ 1 Fixed Deposit worth Rs 5000 & 1Saving Account worth Rs 5000 + 1Gold Card worth Rs 566

7th

WEEK 1 Saving Account + 1 Demat Accountworth Rs 5000 & 1 Saving Accountworth Rs 5000 + 1 Gold Card worth Rs566

8 th WEEK 1 Senior Citizen Saving Account worthRs 2500 + 1 Fixed Deposit worth Rs10000,1 Saving Account worth Rs 5600& 1 Fixed Deposit worth Rs 8000.

9 th WEEK 2 Saving Accounts worth Rs 11200.

10 th WEEK 1 Saving Account worth Rs 5200 & 1Fixed Deposit worth Rs 5000.

11 th WEEK 1 Saving Max Account worth Rs 25000+ 1 Fixed Deposit worth Rs 1,00,000, 1Kids Advantage Account + 1 FixedDeposit worth Rs 10000, 1 SavingAccount worth Rs 5200 + 1 Gold Cardworth Rs 566.

12 th WEEK 1 Saving Account + 1 Fixed Depositworth Rs 10000, 1 Saving Account + 1Demat worth Rs 5000, 1 SavingAccount + 1 Demat worth Rs 5200.


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13 th WEEK 1 Saving Account + 1 Gold Card worthRs 5000, 1 Saving Account + 1 GoldCard worth Rs 5000, Fixed Depositworth Rs 81000

14th

WEEK

LEARNING


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The main learning is time management i.e. between office work, college work and

other important things

The next learning is that one has to be calm when somebody is not listening to u

and when your boss is upset even when you are right at your point which means

one has to be patient

Eustress is very important which means positive stress. Actually it motivates

people. Without Eustress people would have taken things for granted.

Taking responsibilities is learning along with the exposure that one is getting by

moving into the market and interacting with the people.

The corporate world is highly competitive and people want to succeed at any cost.

Customer relationship management is very necessary retaining a customer is rather

more difficult than making a new one. To retain the existing customer it is very

important to make good relations with them

From my last 7 weeks experience I learnt most important thing is that always do

your home work before meet with the customers. If you do not have proper

knowledge then you cannot grab the customers. Invest some time to know as much

as you can about your competitors, your prospects, your product, your company.

LIMITATION


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The main constraints faced by me in the achievement of the targets assigned by thecompany are as follows:

The level of cut throat competition faced by the company from its

competitors is intense. It results in high attrition rate of the customers. Andthus resulting in a high rate of retention.

Area is restricted.


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AWARDS


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CONCLUSION

The executive training is proving to be an opportunity to have a practical

knowledge of the Banking industry. It provides us a path for our career prospects

in terms of the knowledge, experience, managerial skills, positive attitude etc. It

has given a chance to get exposure to the corporate environment.

SIP is about the practical knowledge in the corporate world.

To know about the culture of an organization and Working environment.

To open a saving account with higher amount is not very easy job.

It is tough to convince the people.

In HDFC they require initial amount of Rs 5000/- to open a saving account

mostly people are not ready to pay this amount in advance because they

want zero balance account.

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