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

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 and
crowned 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

is also extended to Prof. David Easow (Head of RBA
Department), Ms. Varsha Solanki (Coordinator RBA
Department), Mr. Nishikant Bele (Faculty EMPI) and
also 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 GOEL

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 with
your valuable suggestions.

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 surrounding
the various aspect of the topic.
I hope that this project will be beneficial for the
Organization.
Place: BAREILLY
Date: June

(MUKHAR GOEL)

Roll No.: 9 Batch: 2008-2010

TABLE OF CONTENTS

S.NO

TOPIC

1
2
3
4
5
6

Company Overview
Origin of ING Group
Company Profile
Mission
New Identity
Milestones in the journey of
ING-VYSYA bank
Balance-sheet
Profit & Loss Account
Cash Flow
Board of Directors
Synopsis
Facts about ING VYSYA
Products
Executive Summary
Introduction of Banking Industry
Training session on Selling Skills
KYC
Research methodology
Analysis of Data
Conclusions &
Recommendations
Questionnaire
Bibliography

7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22

PAGE
NO.
7
8
9
9
10
11
13
14
15
16
17
20
22
54
56
66
77
80
88
94
98
102

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

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

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

company called Internationale Nederlanden Group.

Market circles soon abbreviated the name to I-N-G. The
company followed suit by changing the statutory name to
ING 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

insurance

by

companies

successfully
in

countries

establishing
with

life

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

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 of ING-VYSYA

Bank

1930
1948
1985
1987

Set up in Bangalore
Scheduled bank
Largest private sector bank
The Vysya Bank Leasing

Ltd .Commenced
10

10

1988
1990
1992
1993

1996

Pioneered the concept of

Co branding of credit Cards
Promoted Vysya Bank
Housing Finance Ltd.
Deposits cross Rs.1000
crores
Number of branches
crossed 300
Signs Strategic Alliance
with
BBL.,Belgium. Two
National
Awards by Gem &
Jewellery
export Promotion council
for
excellent performance in

1998

export promotion.
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
11

11

Vysya Life Insurance

2001
2002

Company
ING-Vysya commenced life
insurance business.
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

2002

net banking service.

ING takes over the
Management of the Bank

2002

from October 7th , 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
12

12

products like Orange

Savings, Orange Current
and Protected Home Loans
Introduced Protected Home

2004

Loans - a housing loan

product
Introduced Solo - My Own

2005

Account for youth and

Customer Service Line
Phone Banking Service
Introduced Solo - My Own

2006

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)

Sources of funds
Owners fund
Equity share capital

Mar08

Mar07

Mar06

102.47

90.90

90.72

Reserves and
surplus

1323.67

901.60
13

13

817.41

Loan Funds
Secured loans
Unsecured loans
Total

Nil
20,498.20
21,924.20

Nil
16,411.09
16,411.09

Nil
14,243.39
14,243.39

Fixed assets
Gross Block
(-)Revaluation

706.82
109.52

681.06
110.78

676.23
111.54

reserve
(-)Accumulated

429.31

394.33

383.02

depreciation
Net Block
Capital WIP
Investments

167.99
121.70
6293.32

175.95
109.24
4527.81

181.67
112.20
4372.34

Net current assets

Current assets,loans

1013.06

794.65

634.06

& advances
(-) current liabilities &

2256.39

1920.87

1304.29

provisions
Total net current

-1243.32

-1126.22

-670.23

5339.69

3686.78

3995.97

Uses of Funds

assets
Total

14

14

Profit & loss account of ING-VYSYA Bank Ltd.

(Rs in
crores)

Mar08

Mar07

Mar06

Income
Operating
Income

1983.64

1537.22

1321.24

Expenses
Personnel

302.39

238.48

234.19

expenses
Selling Expenses
Administrative

4.28
299.90

3.49
296.56

5.36
295.43

expenses
Cost of sales
Operating profit
Other recurring

606.56
195.03
121.62

538.53
139.38
56.87

534.98
45.01
31.56

Income
Adjusted PBDIT
Financial

316.66
1182.05

196.26
859.31

76.57
741.25

expenses
Depreciation
Other write offs
Adjusted PBT
Tax charges
Adjusted PAT
Non-recurring

38.93
Nil
277.72
94.53
151.57
3.38

37.98
Nil
158.27
38.72
83.92
4.99

37.20
Nil
39.37
12.46
6.01
3.05

items
Reported net

154.95

88.91

9.06

profit
Earnings before

173.39

90.20
15

15

-25.55

appropriation
Equity dividend
Preference

15.37
Nil

5.91
Nil

Nil
Nil

dividend
Dividend Tax
Retained

2.61
155.41

1.00
83.29

Nil
-25.55

earnings

Cash flow
(Rs in crores)
Profit before tax
Net cash flow-

Mar08
251.46
1426.23

Mar07
127.63
308.12

Mar06
21.52
-202.67

operating activity
Net cash used in

-35.55

-17.62

-74.90

investing activity
Net cash used in

202.38

177.87

286.41

16

16

financial activity
Net
increase/decreas
e

1593.06

468.37

8.84

1591.70

1123.33

1114.50

3184.76

1591.70

1123.33

in cash and
equivalent
Cash and
equivalent at the
beginning of the
year
Cash and
equivalent at the
end of the year

Board of Directors

S.no.
1
2
3

Name of the person

Aditya Krishna
Arun Thiagarajan
K R Ramamoorthy

Designation
Director
Director
Director

K R V Subrahmanian

Director

NonExecutive

M Damodaran
17

17

and Non
Independent

6
7

Philipee Damas
Ramakrishnan Subramanian

8
9

Richard Cox
Ryan Andrew Padgett

10

Santosh Ramesh Desai

11

Vaughn Nigel Richtor

Director
Additional
Director
Director
Additional
Director
Director
Additional
director
Managing
Director
and Chief

12

Executive Officer
Additional
Director

Wilfred Nagel
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.

18

18

Data Collection
1- Questionnaire filled by1)

Existing customers of ING in Bareilly

2)

New customers who are not associated with ING in

Bareilly.
Research Design
1

Problem identification

Data collection related to awareness of ING in

Bareilly.

Sampling Technique
Convenience sampling
1

It is purposive or non-probability sampling.

This sampling method involves deliberate or

purposive selection of particular units of the universe
for consulting a sample, which represents the
universe and when elements are selected for
inclusion in the sample based on the ease of
access, it is called convenience sampling.

19

19

Research technique
Conclusive research
1

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 UttarPradesh.

Bank

Assets

Liabilities

20

A thing for
which
one is
responsible

A thing owned
by a someone
having some
value

CASA

TD/FD

Others

Current

Term

Lockers

account

deposits

Savings

Fixed

account

Depoits

Fee Income
products

Fee Income Products

Life
Insurance

General
Insurance

Mutual
Funds

21

21

Portfolio
management
service

Demat
account

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.

22

22

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.

23

23

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

24

24

ATM network and Corporation Bank ATM network

6 Free ATM transactions per month at 25,000 (Cirrus)
ATMs
Free ING Vysya International Debit Card.
Re-issue charged at Rs. 200/- per request
Shopping convenience at over 200,000 merchant
locations.
Free issue of personalized chequebooks.
Free 2 D.Ds / P.Os not exceeding a value of Rs.
10,000/- per month.
Free transfer of funds across all the branches of ING.
Free Bill Pay service at select centres.
Free Bill Pay service at select centres.
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 ING Vysya Credit Card based on

customers eligibility.

25

25

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

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

26

26

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.

27

27

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

28

28

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.

No restriction in the number of transactions in the

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

29

29

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

30

30

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 Multi branch, Multi-city banking convenience.
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.
No restriction in the number of transactions in the
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 -

31

31

Independent Bank account.

Wide Accessibility through Corporation & HDFC
ATM's.
E-channels to make banking convenient to the
student.
Freedom Account
Key Features:
Quarterly Average Balance to be maintained in the
account reduced to zero. (Zero Balance Account).
Unlimited ATM transactions on all ING Vysya ATM's.
Free four ATM transactions per month in over 25,000
other Bank ATM's in India.
Shopping convenience at over 200,000 merchant
locations, with the ING Vysya International Debit
card.
Free issue of Personalized chequebooks.
Free Electronic Bill Payment service -at select
centres.
Free

Transfer

of

funds

across

all

networked

branches.
Free Statement of Account through E-mail at no

charge.

32

32

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.
Free Multi branch, Multi-city banking convenience.
Eligibility:
Individuals above the age of 18.
Upwardly

mobile

tech

savvy

professionals,

entrepreneurs in metros and urban areas.

Guardians on behalf of minors.

33

33

Salaried individuals.
Trusts / Societies and Charitable Institutions
General Savings Account
Key Features:

Quarterly Average Balance of Rs. 5000/- to be

maintained 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.

34

34

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.
Free Multi branch, Multi-city banking convenience.
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.
Saral Savings Account
Key Features:

Quarterly Average Balance of Rs. 200/- to be

maintained in the account.

35

35

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.

36

36

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:
Individuals above the age of 18.
Customers at Rural & Semi Urban locations.
Guardians on behalf of minors.
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

37

37

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 is
your 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

38

38

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

39

39

Individuals above the age of 18.Guardians on behalf

of minors.
Guardians on behalf of minors.
Salaried individuals.
Average Quarterly balance amount of Rs25000/- to
be maintained

ING Positive Life

Positive 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

40

40

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

41

41

Service Charges/Amount

Details

ING Platina
Account

ING
Formula
Savings
Account

Quarterly Average Balance (QAB*) Requirement

1.Requirement to

maintain Platina
status
2.Requirement to
avoid nonmaintenance
charges
3.*Quarterly
Average

Rs.1,00,000/- NIL
Rs.5,000/- NIL
NIL

Rs.25,000/-

Balance(QAB)
Requirement

Service Charges for Non-Maintenance of Quarterly Average

Balance (QAB)
1.First two calender

No charge;

quarters if QAB > =

Platina status

Rs. 5,000/-

retained

N
IL
N
IL

2.First two calender

quarters if QAB <
Rs. 5,000/-

Rs. 600/- per

quarter;
Platina
42

N
IL

42

status
retained
3.After first two
calender quarters if

Rs. 600/- per

QAB < Rs. 5,000/4.Quarterly service

quarter; Platina Rs. 750/status

charges for non

maintenance of
QAB

withdrawn

NIL
General Charges
Statement of
Accounts
Free Quarterly NIL
1.Where QAB is

Free Yearly

NIL

maintained
2.Where QAB is
not

NIL

Free Quarterly

maintained

Rs. 750/- p.a. NIL

3.Statement of

Rs. 400/- p.a. NIL

Accounts

Rs. 200/- p.a. NIL

4. Additional

Rs. 50/- per Rs. 50/- per

Statement of

request
Issued free
of
charges both
MICR and

Accounts
Daily
Weekly

request
Free

PAP
Fortnightly
Issue of Duplicate
/
43

43

Adhoc statements
Cheque book
issues
ATM usage
Savings
A/c's
with QAB of
ING Vysya ATMs

Rs. 5,000/- and Free

above
Free

* Other Bank ATM'

s
International
ATMs
- Withdrawal
International
ATMs
- Enquiry

Free

Free

USD 1.50 per USD 1.50 per

withdrawal

withdrawal

USD 0.50 per USD 0.50 per

enquiry

enquiry

Savings A/c's
without QAB
Cash withdrawl at of
other Bank ATMs

Rs. 5,000/-

Balance Enquiry

Rs. 20/- per

Issue of
International
Debit

transaction

Free*

Free

Rs.250/- per

Card

Free*

annum(Inclusive

Annual

Rs. 150/- per

of Service Tax)

Maintenance

annum
44

44

charges for
Debit Card

16

Standing

Instructions

1. Transfer from

one account to
another account

NA

Free

within profile
network(Intercity)
Set Up - Rs. 50/AmendmentRs.25/-

Execution -

2. External

NA

payments

Rs.25/- per
execution +
Demand Draft
charges +
Postage

7 Closure of
Accounts
1. Within 1 year
of
opening
Remittances

NA

Rs. 100/-

1 Demand Draft / Pay Free issuance NA

45

45

2 Charges for PAP

Order

of DDs up to

Rs. 50,000/p.m.
Beyond Rs.
50,000/- p.m.
the charges
are:Up to Rs.
50,000/- - Rs.
2.50 per Rs.
1,000/- (Min
Rs. 50/-)
Rs. 50,001/- to
Rs. 2 lakhs Rs. 2.00/- per
Rs. 1,000/(Min Rs. 125/-)
Rs. 2 lakhs
and above Rs. 1.00/- per
Rs. 1,000/(Min Rs. 400/Max - Rs.
6,000/-)
Free &

46

Free

46

cheque payments unlimited

in intercity
clearing
Up to Rs.
3 Free Limit

50,000/- per

NA

month
Up to Rs.5
lakhs, Rs.25/- Up to Rs.5 lakhs,
per
Rs.25/- per
transaction
Charges for RTGS &
transaction & Rs.5
(Inward : free for
4 all
Rs.5 lakhs and lakhs and above
products)
above
Rs.50/Rs.50/- per
per
transaction
5 Charges for NEFT Up to Rs.1

transaction
Up to Rs.1 lakh,

(Inward & Outward, lakh, Rs.5/-

Rs.5/- per

Inward: free for all per

transaction
products)
&

transaction & Rs.1

Rs.1 lakh &

lakh & above,

Rs.25/- per

above, Rs.25/- transaction

per

(Free if transacted

transaction

through mi-b@nk,

(Free if

Internet Banking)

transacted
through mib@nk, Internet

47

47

All third party

deposits

AAA cash

Minimum charges deposit

Banking)
(Not
applicable
to
third party
AAA (inter-city)

AAA cash

deposits)
6 transaction - cash 2 free
deposits
transactions
per month
up
to value
limit
of Rs.
50,000/Charges beyond
free
Rs. 2/- per
limit
Rs.
Up to and
exclusive
of Rs. 25,000/Above Rs.
25,000/7 to less than Rs.
50,000/Rs. 50,000/- and
above

1,000/Rs. 5/- per

Rs.

1,000/Rs. 5/- per

Rs.
1,000/Rs. 2/- per
Rs.
1,000/Rs. 50/- per

Up to Rs.50,000/Rs.2.50 per
FREE

Rs.1000/-, min

Rs.50; Rs.50,001/to Rs. 2 lakhs -

Rs.2.00 per Rs.1000/- min of Rs.125;

Beyond Rs. 2 lakhs - Rs.1.00 per
Rs.1000/- min Rs.400/- (Max of
Rs.6000/-)

48

48

AAA Fund Transfer

Transfer of funds
1 within networked

NA

Free

branches
Cheque Collection Charges
Local clearing
and
at all AAA
1 (networked

Local
clearing
Free

Free

Free

Free

Free
Rs. 50/- +
Out

Rs. 50/- + Other

networked
branches / non
ING

of pocket

bank charges +

expenses +

Postage / Courier

Vysya Bank
locations upto
and

Other bank
charges +

Rs. 4 per Rs.

including Rs.

Postage.

1,000/- (Min. Rs.

branches)
locations
Outstation
cheque
drawn on ING
2 Vysya branch
locations
3 NRI Accounts
4 Outstation - non

10,000/-

50/- & Max.

Rs. 4 per Rs.

Rs.5,000/-) + Other

Above Rs.
10,000/-

1,000/- (Min.
Rs. 50/- &
Max.
49

bank charges +
Postage / Courier
49

Rs.5,000/-) +
Out of
pocket
expenses +
Other bank
charges +
Postage
Stop Payment of cheque
Transfer of funds

Rs. 50/- per

1 within networked

cheque & Rs.

NA

branches

100/- per series

Cheque return charges per instrument

Cheques
deposited
by customers and Rs. 50/- +
Other bank
1 returned unpaid charges +
outstation
Postage
(returned to us)
Cheques
deposited
by customers and Rs. 50/- per
2 returned unpaid instrument
local (returned to
us)
3 Cheque issued by Rs. 200/- per
customers and

cheque for

Rs. 200/- per

cheque if it is due

returned by us

cheque

to insufficient of

including ECS

bouncing. For funds. NIL for any

50

50

Mandate and Post

dated cheques

other reasons

other
reason. - No charge

including IVBL
cheques
Special Services
1

Balance

confirmation

Signature

verification

3 No due certificate

Rs. 25/-

Rs. 25/-

Rs. 25 per

Rs. 25 per

attestation
Rs.25/- per

attestation
Rs.25/- per

certificate.
Rs.100 for

certificate.

each
enquiry

more than one

4 Old record Enquiry year old
from
the date of

Rs.100 for each

enquiry more
than
one year old from
the date of
request

request
C
s

5
instructio
ns or

noting

Free

Free

change

in the

signature
/name

e
c

51

51

Conditions Apply:
1)

QAB - Quarterly Average Balance is sum of end of

the day balance during the quarter divided by no. of

days in the quarter
2)

Service charges indicated above excludes applicable

service tax; subject to change from time to time.

3)

Bank reserves the right to change or discontinue

some of the facilities.

4)

Free facilities are available only against maintenance

of quarterly average balance.

5)

Customer depositing cash of Rs.25,000/- and above

under "Anywhere Banking" should produce letter as per

Bank's format, from the account holder.

52

52

Introduction: Executive summary of the

project Executive Summary
Banking Industry, which is basically my concern industry
around which my project has to be revolved, is really a
very complex industry. And to work for this was really a
complex and hectic task and few times I felt so frustrated
that I thought to left the project and go for any new
industry and new project. Challenges, which I faced while
doing this project, were followingBanking sector was quite similar in offering and
products and because of that it was very difficult to
discriminate between our product and products of the
competitors.
Target customers and respondents were too busy
persons that to get their time and view for specific
questions was very difficult.
Sensitivity of the industry was also a very frequent
factor, which was very important to measure
correctly.
Area covered for the project while doing job also was

very large and it was very difficult to correlate two

53

53

different customers/respondents views in a one.

Every financial customer has his/her own need and
according to the requirements of the customer
product customization was not possible.
So above challenges some time forced me to leave the
project but anyhow I did my project in all circumstances.
Basically in this project I analyzed thatWhat factors are really responsible for performance of
ING Banks performance in this competitive era.

Industry status & ING-VYSYA Banks interface

Industry introduction
The Indian Banking industry, which is governed by the
Banking Regulation Act of India, 1949 can be broadly
classified into two major categories, non-scheduled banks
and

scheduled

banks.

Scheduled

banks

comprise

commercial banks and the co-operative banks. In terms of

ownership, commercial banks can be further grouped into
nationalized banks, the State Bank of India and its group
banks, regional rural banks and private sector banks (the
old/ new domestic and foreign). These banks have over
67,000 branches spread across the country in every city

and villages of all nook and corners of the land.

54

54

The first phase of financial reforms resulted in the

nationalization of 14 major banks in 1969 and resulted in a
shift from Class banking to Mass banking. This in turn
resulted in a significant growth in the geographical
coverage of banks. Every bank had to earmark a minimum
percentage of their loan portfolio to sectors identified as
priority sectors. The manufacturing sector also grew
during the 1970s in protected environs and the banking
sector was a critical source. The next wave of reforms saw
the nationalization of 6 more commercial banks in 1980.
Since then the number of scheduled commercial banks
increased four-fold and the number of bank branches
increased eight-fold. And that was not the limit of growth.
After the second phase of financial sector reforms and
liberalization of the sector in the early nineties, the Public
Sector Banks (PSB) s found it extremely difficult to
compete with the new private sector banks and the foreign
banks. The new private sector banks first made their
appearance after the guidelines permitting them were
issued in January 1993. Eight new private sector banks
are presently in operation. These banks due to their late
start have access to state-of-the-art technology, which in
turn helps them to save on manpower costs. During the
year 2000, the State Bank Of India (SBI) and its 7

associates accounted for a 25 percent share in

55

55

deposits and 28.1 percent share in credit. The 20

nationalized banks accounted for 53.2 percent of the
deposits and 47.5 percent of credit during the same
period. The share of foreign banks (numbering 42),
regional rural banks and other scheduled commercial
banks accounted for 5.7 percent, 3.9 percent and 12.2
percent respectively in deposits and 8.41 percent, 3.14
percent and 12.85 percent respectively in credit during the
year 2000.about the detail of the current scenario we will
go through the trends in modern economy of the country.
Current Scenario:
The industry is currently in a transition phase. On the one
hand, the PSBs, which are the mainstay of the Indian
Banking system are in the process of shedding their flab in
terms of excessive manpower, excessive non Performing
Assets (Npas) and excessive governmental equity, while
on the other hand the private sector banks are
consolidating

themselves

through

mergers

and

acquisitions.
PSBs, which currently account for more than 78 percent of
total banking industry assets are saddled with NPAs (a
mind-boggling Rs 830 billion in 2000), falling revenues
from traditional sources, lack of modern technology and a

massive workforce while the new private sector banks are

56

56

forging ahead and rewriting the traditional banking

business model by way of their sheer innovation and
service. The PSBs are of course currently working out
challenging strategies even as 20 percent of their massive
employee strength has dwindled in the wake of the
successful

Voluntary

Retirement

Schemes

(VRS)

schemes.
The private players however cannot match the PSBs
great reach, great size and access to low cost deposits.
Therefore one of the means for them to combat the PSBs
has been through the merger and acquisition (M&A) route.
Over the last two years, the industry has witnessed
several such instances. For instance, HDFC Banks
merger with Times Bank , ICICI Banks acquisition of ITC
Classic, Anagram

Finance

and

Bank

of

Madurai.

Centurion Bank, IndusInd Bank, Bank of Punjab, Vysya

Bank are said to be on the lookout. The UTI bank- Global
Trust Bank merger however opened a pandoras box and
brought about the realization that all was not well in the
functioning of many of the private sector banks. Private
sector Banks have pioneered internet banking, phone
banking, anywhere banking, mobile banking, debit cards,
Automatic Teller Machines (ATMs) and combined various
other services and integrated them into the mainstream

banking arena, while the PSBs are still

57

57

grappling with disgruntled employees in the aftermath of

successful

VRS

schemes.

Also,

following

Indias

commitment to the WTO agreement in respect of the

services sector, foreign banks, including both new and the
existing ones, have been permitted to open up to 12
branches a year with effect from 1998-99 as against the
earlier stipulation of 8 branches.
Tasks of government diluting their equity from 51 percent
to 33 percent in November 2000 have also opened up a
new opportunity for the takeover of even the PSBs. The
FDI rules being more rationalized in Q1FY02 may also
pave the way for foreign banks taking the M& A route to
acquire willing Indian partners.
Meanwhile the economic and corporate sector slowdown
has led to an increasing number of banks focusing on the
retail segment. Many of them are also entering the new
vistas of Insurance. Banks with their phenomenal reach
and a regular interface with the retail investor are the best
placed to enter into the insurance sector. Banks in India
have been allowed to provide fee-based insurance
services without risk participation, invest in an insurance
company for providing infrastructure and services support
and set up of a separate joint-venture insurance company
with risk participation.

58

58

Aggregate Performance of the Banking Industry

Aggregate deposits of scheduled commercial banks
increased at a compounded annual average growth rate
(Cagr) of 17.8 percent during 1969-99, while bank credit
expanded at a Cagr of 16.3 percent per annum. Banks
investments in government and other approved securities
recorded a Cagr of 18.8 percent per annum during the
same period. In FY01 the economic slowdown resulted in
a Gross Domestic Product (GDP) growth of only 6.0
percent as against the previous years 6.4 percent. The
WPI Index (a measure of inflation) increased by 7.1
percent as against 3.3 percent in FY00. Similarly, money
supply (M3) grew by around 16.2 percent as against 14.6
percent a year ago. The growth in aggregate deposits of
the scheduled commercial banks at 15.4 percent in FY01
percent was lower than that of 19.3 percent in the
previous year, while the growth in credit by SCBs slowed
down to 15.6 percent in FY01 against 23 percent a year
ago.
The industrial slowdown also affected the earnings of
listed banks. The net profits of 20 listed banks dropped by
34.43 percent in the quarter ended March 2001. Net
profits grew by 40.75 percent in the first quarter of 20002001, but dropped to 4.56 percent in the fourth quarter of

2000-2001.

59

59

On the Capital Adequacy Ratio (CAR) front while most

banks managed to fulfill the norms, it was a feat achieved
with its own share of difficulties. The CAR, which at
present is 9.0 percent, is likely to be hiked to 12.0 percent
by the year 2004 based on the Basle Committee
recommendations. Any bank that wishes to grow its assets
needs to also shore up its capital at the same time so that
its capital as a percentage of the risk-weighted assets is
maintained at the stipulated rate. While the IPO route was
a much-fancied one in the early 90s, the current scenario
doesnt look too attractive for bank majors.
Consequently, banks have been forced to explore other
avenues to shore up their capital base. While some are
wooing foreign partners to add to the capital others are
employing the M&A route. Many are also going in for right
issues at prices considerably lower than the market prices
to woo the investors.
Interest Rate Scene
The two years, post the East Asian crises in 1997-98 saw
a climb in the global interest rates. It was only in the later
half of FY01 that the US Fed cut interest rates. India has
however remained more or less insulated. The past 2
years in our country was characterized by a mounting

60

60

intention of the Reserve Bank Of India (RBI) to steadily

reduce interest rates resulting in a narrowing differential
between global and domestic rates. The RBI has been
affecting bank rate and CRR cuts at regular intervals to
improve liquidity and reduce rates. The only exception was
in July 2000 when the RBI increased the Cash Reserve
Ratio (CRR) to stem the fall in the rupee against the dollar.
The steady fall in the interest rates resulted in squeezed
margins for the banks in general.
Governmental Policy:
After the first phase and second phase of financial
reforms, in the 1980s commercial banks began to function
in a highly regulated environment, with administered
interest rate structure, quantitative restrictions on credit
flows, high reserve requirements and reservation of a
significant proportion of lendable resources for the priority
and the government sectors. The restrictive regulatory
norms led to the credit rationing for the private sector and
the interest rate controls led to the unproductive use of
credit and low levels of investment and growth. The
resultant financial repression led to decline in productivity
and efficiency and erosion of profitability of the banking
sector in general.

This was when the need to develop a sound commercial

61

61

banking system was felt. This was worked out mainly with
the help of the recommendations of the Committee on the
Financial System (Chairman: Shri M. Narasimham), 1991.
The resultant financial sector reforms called for interest
rate flexibility for banks, reduction in reserve requirements,
and a number of structural measures. Interest rates have
thus been steadily deregulated in the past few years with
banks being free to fix their Prime Lending Rates (PLRs)
and deposit rates for most banking products. Credit
market reforms included introduction of new instruments
of credit, changes in the credit delivery system and
integration of functional roles of diverse players, such as,
banks, financial institutions and non-banking financial
companies (Nbfcs). Domestic Private Sector Banks were
allowed to be set up, PSBs were allowed to access the
markets to shore up their Cars.

62

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Training on Selling Skills

One day we all summer trainees got a chance to attend a
special training session of sales in ING-Vysya Bank. There
we come to know the basics of selling. I am very thankful
to my seniors especially Pankaj Sharma Sir and Arastu
Sharma Sir who made us to attend this training session.
Here are some of the key learnings of that session.
What is selling?
Selling is a process of mutual exchange of goods or
services for a value. One of the most effective ways of
increasing the organizational profits.

63

63

Sales Cycle

Lead Generation

Preparation for the sale

Meeting the customer

Introduction

Presentation

Closing
Follow-up

64

64

Steps of Selling

Step1: Lead Generation

A lead is generally defined as someone who shows an
interest in any of the products/services.
The aim should be to fill the lead funnel with as many
qualified leads as possible to build a strong and valuable
database.

65

65

Leads

Poor
Good
Qualifyi
Qualif
ng
ying
Leads
Leads

C
u
s
t
o
m
e
r
s

C
u
s
t
o
m
e
r
s

w
h
o

w
h
o

y
o
u
t
h
i
n
k
w

y
o
u
t
h
i
n
k

m
a

F
o
l
l
o
w
u
p
a
n
d
c
o
n
v
e
r
t

Step 2:The Commandments of

Preparation
1.

First impression is important. A customer will form an

opinion of you within the first 30 seconds. You will be
judged on:
Your appearance
Your attitude

Your presentation

2.

Dress appropriately. Wear clothes that relate to the

job you are in. Pay attention to things like hygiene,

cleanliness, neat clothing etc. These are important!

67

67

3.

Keep copies of product brochures, account opening

1& other

related forms. Circulars 7 any other related

references that you may need on your table.

4.

Collect background information of the customer (if

available). Go through the same prior to the meeting.
Plan your questions that you wish to ask.

5.

Dont smoke or chew gum prior to any meeting

customer. If you are in the habit, best is to wash the
mouth with water or any mouthwash prior to meeting
a customer.

6.

Remember to speak in a clear loud voice enough to

be heard.

7.

Sit up in a chair and lean slightly toward the

customer. Show interest in what theyre saying. Try not

to do things like cross your arms and lean away.
Maintain eye contact and a pleasant expression on your
face.

8. Do not let telephone calls disturb you during the

68

68

conversation.

In

case

of

emergency,

seek

the

permission of the customer & try, limit to a minimum and

as brief as possible.
Learn to make criticism. When your customer to
you that you could do a job better or faster,
recognize these as a way to improve your
performance.

Step 3: Meeting the Customer

1)

A Introduction

Greet the customer cheerfully and politely. Address

him/her with their formal name and shake hands.

Sit in a position that both of you can see each

other clearly

Remember to speak in a clear voice loud enough

to be heard.

69

69

Introduce yourself, the organization, your role and

the purpose of todays meeting

Set a timeline for the meeting and ask the

customer if he is ok with the time-line.
Use the detailer to make the introduction and
let the customer choose the product. If you know the
background, you can indicate the product that you are
detailing and get on with the detailing.
b) Presentation
As on the detailerTips for effective presentation
Memorize the details on the chart

Hold the chart in such a way that its visible to the

customer clearly

Use a pen/pointer and point out the product and

introduces the product.

70

70

Use a pen/pointer and speak about each of the

features of the product.

Use a pen/pointer and speak about the advantages

comparing the same to the features of the product.

Show the charges chart and point to the relevant

table for the same.

Ask if there are any questions that the customers

may have.

Ask if the customer is interested in any of the

products.

Step 4: Closing

Get a commitment from the customer in the form of

yes or ask for any objections.

Hand over the appropriate form to the customer

71

71

Run through the various details in the form

Indicate where the customer has to provide additional

data.

Check for the possibility of the customer needs for

other products of the bank.

Thank the customer for the time and agree on a new

date/time to collect the documents.

What is KYC
KYC is Know Your Customer Guidelines that we need to
follow as a bank. Every customer of the bank should
necessarily satisfy the KYC norms laid down.
How can I do KYC for a lead?

When you meet a customer, he should seem what he has

72

72

stated about himself. For example a salaried employee

should be able to state the name of the organization and
the location of the office easily without having to refer to
any document.
What documents should I ask for?
The prescribe documents as to what has been given in the
application form and also in the sales detailer
What should I do when I get the documents?
Look at each of the documents and compare with the data
given by the customer. If there is any deviation, clarify with
the customer immediately.
What should I do if the customer has no supporting
document?
Ask of the customer can get it in a few days time, if no,
drop the lead.
Whats the impact of not following KYC?

The organization faces a reputation risk and the sales

73

73

executive may face appropriate charges/actions for noncomplying with KYC

Research Methodology
Objective of the study
Project study, which is being conducted by me for the last
two month, is not only a formality for the fulfillment of the
two-year full time Post Graduate Program in Research
and Business Analytics. But being a management student
and a good employee I tried my best to extract best of the
information available in the market for the use of society
and people. The objectives areTo know about environmental factors affecting
ING-Vysya Banks performance.
To analyze the role of advertisement for bank
performance.
To know the perception and conception of customers
towards banking products and specially focused for
ING Banks product.
To explore the potential areas for the new bank
branches which will provide both price and people to
the bank with constant promotion and placing
strategy.

Scope of the Study

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74

Each and every project study along with its certain

objectives also has scope for future. And this scope in
future gives to new researches a new need to research a
new project with a new scope. Scope of the study not only
consist one or two future business plan but sometime it
also gives idea about a new business which becomes
much more profitable for the researches then the older
one.
Scope of the study could give the projected scenario
for

new

successful

strategy

with

proper

implementation plan. Whatever scope I observed in my

project are not exactly having all the features of the scope,
which I described above, but also not lacking all the
features.
Research study could give an idea of network
expansion for capturing more market and customer
with better services and lower cost, with out
compromising with quality.
In future customer requirements could be added with
the product and services for getting an edge over
competitors.
Consumer behavior could also be used for the
purpose of launching a new product with extra
benefits which are required by customers for their

account (saving or current) and/or for their

75

75

investments.
Factors, which are responsible for the performance
for bank, can also be used for the modification of the
strategy and product for being more profitable.
Factors which I observed while doing project study
are following1.

Competitors

2.

Customer Behavior

3.

Advertisement/promotional activities

4.
5.

Attitude of manpower and

Economic conditions
These all could also be interchanged with each
other for each other in banks strategies for
making a final business plan to effect the market
with a positive way without disturbing a lot to
market,

customers

and

competitors

with

disturbance in market shares.

Tools and Techniques
As no study could be successfully completed without
proper tools and techniques, same with my project. For
the better presentation and right explanation I used tools
of statistics and computer very frequently. And I am very

thankful to all those tools for helping me a lot. Basic tools

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76

which I used for project from statistics areBar Charts

Pie charts
Tables
Bar charts and pie charts are really useful tools for every
research to show the result in a well clear, ease and
simple way. Because I used bar charts and pie charts in
project for showing data in a systematic way, so it need
not necessary for any observer to read all the theoretical
detail, simple on seeing the charts any body could know
that what is being said.
Technological Tools
Ms- Excel
Ms-Access
Ms-Word
Above application software of Microsoft helped me a lot in
making project more interactive and productive.
Microsoft-Excel had a great role in my project, it
created for me a situation of you sit and get. I
provided it simply all the detail of data and in return it
given me all the relevant information..
Microsoft-Access did the performance of my personal
assistant who organizes my all the details of document

77

77

without disturbing them even a single time in all the project

duration.
And in last Microsoft-Word did help me for the
documentation of the project in a presentable form.
Applied Principles and Concepts
While I started to do the project the main thing, which was
the matter of concern was that, around what principles I
have to revolve my project. Because with out having any
hypothesis and objective we cannot determine that what
output or result we are expecting form the project.
And second thing is that having only tools and techniques
for the purpose of project is not relevant until unless we
have the principals for which we have to use those tools
and techniques.
Mathematical Averages
Standard Deviation
Correlation
Sources of Primary and Secondary data:
For the purpose of project data is very much required
which works as a food for process, which will ultimately
give output in the form of information. So before
mentioning the source of data for the project I would like to

mention that what type of data I have collected for the

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78

purpose of project and what it is exactly.

Primary Data:
Primary data is basically the live data which I collected
on field while doing cold calls with the customers and I
shown them list of question for which I had required
their responses. In some cases I got no response form
their side and than on the basis of my previous
experiences I filled those fields.
Source: Main source for the primary data for the project
was questionnaires, which I got filled by the customers
or some times filled myself on the basis of discussion
with the customers.
Secondary Data:
Secondary data for the base of the project I collected
from intranet of the Bank and from Internet, RBI Bulletin
etc.
Statistical Analysis
In this segment I will show my findings in the form of
graphs and charts. All the data which I got form the market
will not be disclosed over here but extract of that in the
form of information will definitely be here.

79

79

Detail:
Size of Data
Area
Type
Industry
Respondent

100
Bareilly
Primary & Secondary
Banking
Customers

80

80

Table1: Correlation between awareness of customers

about ING
NO. OF RESPONSE

15
25
5
10

AGE

20-25
25-30
30-35
35-40
40-45
45-50
50-60
60ABOVE

11
10
12
12

25
20
15
10

No.of
response
s

5
0 20-

30- 40- 50-

25

81

35

45

60

81

TABLE 2: PERCEPTION OF ING AS A BANK

TYPE OF BANK

RESPONSE
S

PRIVATE
PUBLIC
PRIVATE/PUBLIC
DON'T KNOW

50
15
25
10

10
25
50

Private
Public
Private/Publi
c
Don't know

15

TABLE 3 : RATING OF CUSTOMERS FOR ING BANK

AS A GOOD BANK

RESPONSE
S

PARAMETER

EFFICIENCY

75%
82

82

INTERNET BANKING/ATMs
PRODUCT RANGE
NETWORK
PHONE BANKING

5%
10
%
5%
5%

Efficiency

10%

Internet
banking/ATM

5%5%

s
Product
range

5%
75%

Network

Phone

TABLE 4: MARKET SHARES OF ING IN BAREILLY IN

COMPARISION TO COMPETITORS
BANK NAME

SBI
IDBI
ICICI

% OF
SHARE

30%
15%
25%

PNB
HDFC
ING

10%
5%
5%
83

83

OTHERS

10%

30%
SBI

25%

IDBI

20%

ICICI

15%

PNB

10%

HDFC

5%

ING
OTHER
S

0%
% OF SHARE

TABLE 5: FACTORS RESPONSIBLE FOR

PERFORMANCE OF ING BANK IN BAREILLY

PARAMETERS

PRODUCT
ADVERTISMENT
MANPOWER
NET-BANKING

% OF
SHARE

50%
5%
25%
2%

PHONE BANKING
INVESTMENT SCHEME
NETWORK

5%
10%
3%
84

84

60%
50%
50%

PRODUCT

ADVERTISMENT
40%
MANPOWER
25
%

30%

NET-BANKING

PHONE BANKING
20%
INVESTMENT SCHEME
10%
10%

5
%

2
%

5
%

NETWORK

3
%

0%
% OF SHARE
PARAMETER
S

TABLE 6: THE EFFECTIVENESS OF COMMERCIALS

OF ING BANK
DAYS AFTER THE AD
IS
SEEN

POSITIVE
RESPONSE

0-5 days
6-10 days
11-15 days
More than 15 days

45
15
25
15

85

85

45
40
35
30

25
20
15

Positive
respons
e

10
5
0
0-5
days

1115
days

Table 7:Products/Services the customers are

presently availing

86

86

Savings
account
Current
Account

3
5
2
5
1
5
5
7
2
5
6

FDR
Life Insurance
Mutual Fund
SIP
Lockers
Demat Account

87

87

Savings
a/c
Current a/c
FDR

6
35

LI
MF
SIP
Lockers

1
5
25

Demat a/c

88

88

Table:8 Satisfaction level of the respondents from

their respective banks
Highly satisfied
Satisfied
Neither satisfied nor
dissatisfied
Dissatisfied
Highly Dissatisfied

2
75
15
6
2

89

89

22
H.Satisfie
d
Satisfied
N.S.N.DS
DS

15

H.DS
75

90

90

Table 9: No.of Respondents know about ING Bank

8
0
1
5
5

Never heard
Heard few times
Heard frequently

5
15

Never heard
Heard few
times
Heard
frequently
80

91

91

Table: 10 Kind of Banking services the respondents

wish to use
High priority services
Preferred services
Normal services

25
35
40

High priority
services
Preferred
services
Normal

25
40

35

services

92

92

Table 11:Type of investment the respondents like to

invest
FDR, NSC
Mutual Fund
SIP
LI
Shares
Gold
Govt. & Tax saving Bonds

55
5
5
15
5
5
10

FDR,NSC
MF

10

5
15

55
5

SIP
LI
Shares
Gold
Govt.Bond
s

Table 12: No.of Respondents availing the facility of

Locker

Yes
No

65
35
93

93

70
60
50
40

no.of

30

Respondents

20
10
0
Yes

No

Table 13: Preferences of the respondents at the time

of hiring the locker
Safety/Security
Operating time
Rental/Security
charges
Locker Size

35
15
35
10
94

94

Parking space outside

bank

5
10
35
safety/security
operating time
rental/Security charges
Locker size
parking space
35
15

Preferences of respondents in
hiring a locker

Table 14: Categorization of respondents on the basis

of Annual Income
< 60000
60000-100000

2
25

100000-500000

65
95

95

500000-1500000
>1500000

6
2

<60000

6 22
25

65

60000100000
100000500000
5000001500000
>1500000

Table 15: Categorization of respondents on the basis

of Education
Under-Graduate

Graduate
Post-Graduate

85
10
96

96

10

5
UG
Graduat
e
PG
85

Table 16: General impression of the respondents

about
ING-Vysya Bank
High Quality services &
Reliability
Average quality services
& Dependability
Low quality services &

5
90
5
97

97

Reliability

High quality
5

services
Average
quality

90

services
Low quality

services

Conclusions and Recommendations

Conclusions
1.

Customers of Bareilly have enough awareness level

about ING Vysya bank as well as about its services
and products.

2.

The advertising campaign has successfully been able

to increase the market share of ING in Bareilly.

3.

The modern days technology like Internet banking,

phone banking, used by ING bank for providing
banking services has sent positive signals in the
mind of consumers.

98

98

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 etc

10. 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.

99

99

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

100

100

5. ING is very much compliance to follow the KYC

norms.
6.

The size of the locker provided by the ING-Vysya

Bank 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 this
campaign 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.

101

101

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 in
Bareilly.
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

102

102

opinion of the respondents and there is no way of

assessing truth of the statements.
4.

There is some respondents bias, which cannot be

removed.
5.

Lastly, some amount of error exists in the data filling

process because of the following reasons:

Influence of others.
Misunderstanding

of

the

concept.

Hurried filling of the questionnaire.

Questionnaire
1) Name ________________
2) Age

________________

3) Sex

_________________

4) Contact No._______________

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103

5)

Education__________________

6)

Marital Status ______________-

7)

Occupation:

Salaried

Retired

Business

House-wife

SelfEmployed

Student

Agriculture
Others(specify)_________

8) Income P.A.:

<60000

60000-100000

100000-500000

104

104

500000-1000000
>1500000

9)

10)

Your current Bank __________________________

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

105

105

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

106

106

13) How you came to know about ING Vysya Bank Ltd.
TV Commercials

Word of Mouth

Billboards

14) What are your general impressions of ING Vysya

Bank
High quality services and reliability

Average quality services and dependability

Low quality services and reliability

15) Are you associated with ING Vysya bank

Yes

No

107

107

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
SIP

Shares
Gold

Governme
nt

Life Insurance
108

108

and tax saving bonds

18) If you invest in mutual funds more frequently,

would you like all your funds to be managed and
controlled at a single point rather than scattered

Yes of course

I am not sure

Its not possible

19) Have you hired a safe deposit locker in any of the

bank

Yes
No

If yes, then please specify________________________

20) If you would hire a locker, what will be your

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109

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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110

BIBLIOGRAPHY

1)

www.ingvysyabank.com

2)

www.google.com

3)

R.S. Sharma, Business statistics, First India Print, India,

2004,

4)

Aaker Kumar and Day, Marketing research, 6 th Ed.,john

willy & sons,1997.

5)

ICFAI Journal of Banking

6)

The Economics times

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7) The Times of India

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112