Research on Banks and

their Services
BUSINESS RESEARCH METHODS
PGDM 2012-2014
SECTION D
GROUP VII
Philip Chacko
Poorti Sachdeva
Pratap Dhar
Praveen Iyer
Rishabh Mathur
Roshan Das
S.Preet Karan Bhatia

2012204
2012207
2012213
2012216
2012242
2012249
2012250

SUBMITTED TO
Dr. V.S.R. Vijay Kumar

1. EXECUTIVE SUMMARY
This research aims to reveal the services offered by the various banks using a sample
of all categories of people who use internet service because survey is majorly conducted
through internet. Guided by the recommendations, this study adopts an innovative
research design by integrating a conventional survey with questionnaire filed by
respondents. This report provides a detailed description of survey development and
implementation and points out several common pitfalls in survey administration. This
report also presents results on the interactions. Based on the data collected through
questionnaire, we have found that people prefer Axis Bank as their best service
provider which includes online payments, online money transfer, ATM services etc. We
found that Citibank is best at all the services offered it.
2. INTRODUCTION
With popular trends and demands in the world globalization is taking place in our
country. Whenever a person starts earning the very first thing that comes to his mind
is opening of bank account. But it gets very difficult for the person to select a bank out
of the numerous banks available in the market. With the introduction of globalization
banking sector in India has increased by various international banks and the services
offered by these banks are somehow equal in quality and no. Initially people were only
interested in opening an account in the Govt. banks only but, now time has changed,
people prefer banks according to the services offered by the bank.

3. RESEARCH OBJECTIVE
The primary aim of this project is to demonstrate that which bank is best among all the
various banks in terms of the services provided by them. The objectives of the project
are as follows:

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1. RESEARCH DESIGN
Research Techniques used
1. Secondary Research from E-books, online articles, blogs and newspaper articles.
a. It is descriptive in nature.
Descriptive research, also known as statistical research, describes data and characteristics
about the population or phenomenon being studied. However, it does not answer questions
about e.g.: how/when/why the characteristics occurred, which is done under analytic
research.
Although the data description is factual, accurate and systematic, the research cannot
describe what caused a situation. Thus, Descriptive research cannot be used to create
a causal relationship, where one variable affects another. In other words, descriptive
research can be said to have a low requirement for internal validity.
The description is used for frequencies, averages and other statistical calculations. Often the
best approach, prior to writing descriptive research, is to conduct a survey
investigation. Qualitative research often has the aim of description and researchers may
follow-up with examinations of why the observations exist and what the implications of the
findings are.
b. Sources of information are internet websites.
2. Primary Research
It is conclusive in nature.
Surveys: Is a method for collecting quantitative information about items in a population.
The survey is conducted by online questionnaire filled by people
SAMPLING
Sampling is a process of obtaining the information about the entire population by examines
a part of it. The effectiveness of the research depends on the sample size selected for the
survey purpose
Sample Site: is the place from where the sample has been collected. The survey was
conducted online.
Sampling method:

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1. Probability sampling method

Simple Random sample
In statistics, a simple random sample is a subset of individuals (a sample) chosen from a
larger set (a population). Each individual is chosen randomly and entirely by chance, such
that each individual has the same probability of being chosen at any stage during the
sampling process, and each subset of k individuals has the same probability of being chosen
for the sample as any other subset of k individuals. This process and technique is known
as simple random sampling, and should not be confused with random sampling. A simple
random sample is an unbiased surveying technique.
Stratified sample
Stratification is the process of dividing members of the population into homogeneous
subgroups before sampling. The strata should be mutually exclusive: every element in the
population must be assigned to only one stratum. The strata should also be collectively
exhaustive: no population element can be excluded. Then simple random
sampling or systematic sampling is applied within each stratum. This often improves the
representativeness of the sample by reducing sampling error. It can produce a weighted
mean that has less variability than the arithmetic mean of a simple random sample of the
population.
Cluster Sample
Cluster sampling is a sampling technique used when "natural" but relatively homogeneous
groupings are evident in a statistical population. It is often used in marketing research. In
this technique, the total population is divided into these groups (or clusters) and a simple
random sample of the groups is selected. Then the required information is collected from a
simple random sample of the elements within each selected group. This may be done for
every element in these groups or a subsample of elements may be selected within each of
these groups. A common motivation for cluster sampling is to reduce the total number of
interviews and costs given the desired accuracy. Assuming a fixed sample size, the technique
gives more accurate results when most of the variation in the population is within the
groups, not between them.

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2. Non-Probability sampling method

Convenient sampling
Convenience sampling is a non-probability sampling technique where subjects are selected
because of their convenient accessibility and proximity to the researcher.
Quota sampling
Quota sampling is a method for selecting survey participants. In quota sampling, a
population is first segmented into mutually exclusive sub-groups, just as in stratified
sampling. Then judgment is used to select the subjects or units from each segment based on
a specified proportion. For example, an interviewer may be told to sample 200 females and
300 males between the age of 45 and 60. This means that individuals can put a demand on
who they want to sample (targeting)
Judgment sample
Judgmental sampling is a non-probability sampling technique where the researcher selects
units to be sampled based on their knowledge and professional judgment.
The sampling method used by us for our research project is cluster sampling, we have
collected the information or answers to the questions online so our cluster is people who use
internet service and from which we have taken simple random sample so that Each
individual is chosen randomly and entirely by chance, such that each individual has the
same probability of being chosen at any stage during the sampling process.
Sampling Unit
Here target population is decided as the people living anywhere In India who use internet
and have account in any Bank in India.
Sample size
For the purpose of proper survey, there is need of perfect research instruments to find out
sample size for more accurate result. The sample size of this project is 65.

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Satisfaction level of services offered

by various banks

95% Confidence Interval for

Mean

Descriptives
N
Rate Net Banking

Rate ATM Sevices

Mean

Std.

Std.

Deviation

Error

Lower Bound Upper Bound

Axis

4.60

.548

.245

3.92

5.28

Citi

4.75

.500

.250

3.95

5.55

HDFC

3.40

.548

.245

2.72

4.08

ICICI

13

4.38

.768

.213

3.92

4.85

PNB

3.50

1.732

.866

.74

6.26

SBI

22

4.00

.535

.114

3.76

4.24

Total

53

4.11

.800

.110

3.89

4.33

Axis

5.00

.000

.000

5.00

5.00

Citi

3.00

1.633

.816

.40

5.60

HDFC

4.20

.447

.200

3.64

4.76

ICICI

13

4.85

.376

.104

4.62

5.07

PNB

4.50

.577

.289

3.58

5.42

SBI

22

4.05

.722

.154

3.73

4.37

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Rate Money Transfer

Total

53

4.30

.845

.116

4.07

4.53

Axis

4.60

.548

.245

3.92

5.28

Citi

4.25

.957

.479

2.73

5.77

HDFC

3.80

.837

.374

2.76

4.84

ICICI

13

4.38

.768

.213

3.92

4.85

PNB

2.75

1.258

.629

.75

4.75

SBI

22

3.86

.834

.178

3.49

4.23

Total

53

4.00

.920

.126

3.75

4.25

Axis

4.20

.837

.374

3.16

5.24

Citi

5.00

.000

.000

5.00

5.00

HDFC

3.60

.548

.245

2.92

4.28

ICICI

13

3.77

.832

.231

3.27

4.27

PNB

3.00

1.414

.707

.75

5.25

SBI

22

3.14

1.037

.221

2.68

3.60

Total

53

3.57

1.047

.144

3.28

3.85

Axis

4.40

.548

.245

3.72

5.08

Citi

4.25

.500

.250

3.45

5.05

HDFC

3.40

1.140

.510

1.98

4.82

Services

Rate Credit Card

Services

Rate Online Bill

Payment

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Rate Mobile Banking

ICICI

13

4.54

.519

.144

4.22

4.85

PNB

2.25

.957

.479

.73

3.77

SBI

22

3.91

.750

.160

3.58

4.24

Total

53

3.96

.919

.126

3.71

4.22

Axis

4.20

.837

.374

3.16

5.24

Citi

4.50

.577

.289

3.58

5.42

HDFC

4.00

.707

.316

3.12

4.88

ICICI

13

3.69

.855

.237

3.18

4.21

PNB

3.25

.957

.479

1.73

4.77

SBI

22

3.14

.990

.211

2.70

3.58

Total

53

3.57

.971

.133

3.30

3.83

4.60

.548

.245

3.92

5.28

Citi

4.75

.500

.250

3.95

5.55

HDFC

3.80

.837

.374

2.76

4.84

ICICI

13

3.85

.801

.222

3.36

4.33

PNB

4.00

1.414

.707

1.75

6.25

SBI

22

3.59

.666

.142

3.30

3.89

Total

53

3.89

.824

.113

3.66

4.11

Service/

Rate Cheque Services? Axis

From the earlier table by taking consideration of mean we can infer that following
bank has highest satisfaction level for corresponding services provided below:

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1. Net banking satisfaction:

Citi bank = 4.75

Mean (Net Banking)

5
4.5
4
3.5
3
2.5
2
1.5
1
0.5
0
Axis

Citi

HDFC

ICICI

PNB

SBI

Here we see that the satisfaction in terms of Net banking is highest for Citi
bank and lowest for HDFC bank in the given six banks.

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2. ATM services satisfaction:

Axis bank = 5

Mean (ATM Sevices)

5
4.5
4
3.5
3
2.5
2
1.5
1
0.5
0
Axis

Citi

HDFC

ICICI

PNB

SBI

Here we see that the ATM service satisfaction level is highest for Axis bank
and lowest for Citi Bank for the given six banks.

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3. Money transfer satisfaction:

Axis bank=4.6

Mean (Money Transfer Services)

5
4.5
4

3.5
3
2.5
2
1.5
1
0.5
0
Axis

Citi

HDFC

ICICI

PNB

SBI

Here we see that the Money Transfer Satisfaction level of Axis Bank is the
highest and the lowest for PNB in the given Six Banks.

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4. Credit card service satisfaction:

Citi bank = 5

Mean (Credit Card Services)

5
4.5
4
3.5
3
2.5
2
1.5
1
0.5
0
Axis

Citi

HDFC

ICICI

PNB

SBI

Here we see that the Credit Card Service Satisfaction for Citi Bank is highest
while it is lowest for PNB in the given six banks.

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5. Online bill payment:

ICICI bank =4.54

Mean (Online Bill Payment)

5

4.5
4
3.5
3
2.5
2
1.5
1
0.5
0
Axis

Citi

HDFC

ICICI

PNB

SBI

Here we see that the Online Bill payment satisfaction level for ICICI Bank is
highest and lowest for PNB Bank in the given six Banks.

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6. Mobile banking

Citi bank=4.5

Mean (Mobile Banking Service)

4.5
4
3.5
3
2.5
2
1.5
1
0.5
0
Axis

Citi

HDFC

ICICI

PNB

SBI

Here we see that Citi Bank is the highest and SBI is the lowest in terms of
Mobile Banking Service Satisfaction Level.

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7. Cheque services

Citi bank=4.75

Mean (Cheque Services)

5
4.5
4
3.5
3

2.5
2
1.5
1
0.5
0
Axis

Citi

HDFC

ICICI

PNB

SBI

Here we see that Citi Bank has the highest and SBI has the lowest Cheque
service satisfaction level.

From above inference we can see that Citi bank is offering services at more
satisfactory levels.

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Bank Wise Analysis

Now we compare the services of an individual bank and to find out which services
need improvement within their structure.

Axis Bank Services

5

4.6

4.6

4.6
4.4

4.2

Net Banking

ATM

Money
Transfer

Credit Card

4.2

Online
Transfer

Mobile
Banking

Cheque
service

In Axis bank we see that most of their services are good. Improvements in the
Mobile banking and Credit card Services will make it a top quality Bank.

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Citi Bank services

5

4.75
4.25

4.25

4.5

4.75

Net Banking

ATM

Money
Transfer

Credit Card

Online
Transfer

Mobile
Banking

Cheque
service

City bank needs to Improve on the ATM services and is highly rated otherwise.

HDFC Bank Services

4.2
3.8
3.4

Net Banking

ATM

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Money
Transfer

4
3.6

Credit Card

3.8

3.4

Online
Transfer

Mobile
Banking

Cheque
service

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We can see that other than mobile banking and ATM services of HDFC are
satisfactory. The other services need more improvements.

ICICI Bank Services

4.85
4.38

4.54

4.38
3.77

Net Banking

ATM

Money
Transfer

Credit Card

Online
Transfer

3.69

3.85

Mobile
Banking

Cheque
service

Credit card, Mobile Banking and Cheque services need improvements in ICICI
Bank.

PNB Services
4.5
4

2.75

3.25

3
2.25

ATM

Money
Transfer

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Credit Card

Online
Transfer

Mobile
Banking

Cheque service

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Other than ATM and Cheque services PNB needs major improvement in the other
services.

SBI Services
4

4.05

3.91

3.86
3.14

Net Banking

ATM

Money
Transfer

Credit Card

3.59
3.14

Online
Transfer

Mobile
Banking

Cheque
service

SBI Services need improvements in all services even though their Net
Banking and ATM Services are at satisfactory levels.

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ANOVA

F
Rate Net Banking

Between Groups

Sig.

3.016

.019

6.165

.000

3.070

.018

3.705

.007

7.149

.000

2.754

.029

Within Groups
Total
Rate ATM Sevices

Between Groups
Within Groups
Total

Rate Money Transfer

Between Groups

Services
Within Groups
Total
Rate Credit Card Services

Between Groups
Within Groups
Total

Rate Online Bill Payment

Between Groups

Within Groups
Total
Between Groups

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Rate Mobile Banking

Within Groups

Service/
Total
Rate Cheque Services?

Between Groups

2.560

.040

Within Groups
Total

In this anova table independent variable is type of banks (categorical) and

dependent variable is satisfaction levels of services like net banking, atm services,
money transfer, credit card, online bill payment, mobile banking services, and
Cheque service.
On considering above significance levels we conclude that null hypothesis is
rejected and hence means of all banks are not equal for any of the services.

Here we have done multivariate regression analysis of dependent variable(ease of

opening of bank account) and independent variable(ease of getting educational
loan ,Cheque services and overdraft facilities).

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ANOVAb
Model
1

Sum of Squares
Regression

df

Mean Square

4.210

1.403

Residual

31.714

49

.647

Total

35.925

52

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F
2.168

Sig.
.104a

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From above table we can see that significance is .104 hence we accept null
hypothesis which means all the 3 services does not affect the satisfaction of
opening an account in bank.

FINDING BEST BANK OVERALL

4.5
4
3.5
3
2.5

4.51

4.35

3.74

4.2
3.32

1.5

3.67

1
0.5
0
Axis

Citi

HDFC

ICICI

PNB

SBI

Bank Average of
the Services
Axis
4.51
Citi
4.35
HDFC
3.74
ICICI
4.2
PNB
3.32
SBI
3.67
This graph and table shows the overall customer perceptions of the various banks
and according to our research Axis bank has the best customer goodwill with a
score of 4.51 with CITI bank and ICICI bank not far behind.

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