A

Project report
On
Survey Regarding Standard Chartered Bank

C.T INSTITUTE OF MANAGEMENT AND I.T

{Affiliated to Punjab Technical University, Jalandhar}
Maqsudan Campus

SUBMITTED BY:

SUBMITTED TO:

Farooque Azam

Mrs. Rajwinder Kaur

BBA 4th Sem

(Project Guide)

81407320006
1

TABLE OF CONTENTS
S.
No
.
1.

PARTICULARS

RESEARCH METHODOLOGY
Objectives of the Study
Research Methodology
Limitations of the Study

2.

INTRODUCTION TO BANKING

SYSTEM

Introduction to banking
Definitions:
Introduction to banking system
Privatization of Indian banking

3.

PROFILE OF STANDARD CHARTERED BANK

Standard Chartered Bank
History of Standard Chartered Bank
Standard chartered in India

4.
5.

DATA ANALYSIS / INTERPRETATION

Data Analysis and Its Interpretation

FINDINGS OF THE STUDY

Findings of the Study
Suggestions

6.
CONCLUSION

Conclusion

7.
8.
9.

BIBLIOGRAPHY
ANNEXURE
QUESTIONAIRE

RESEARCH METHODOLOGY
OBJECTIVES OF THE STUDY
Banks to know about the different deposit schemes provided by Standard
Chartered Bank.
To know the type of facilities provided by Standard Chartered Bank in
deposits accounts.
To know the satisfaction level of the customers regarding deposit accounts of
Standard Chartered Bank.
To analyze the problems faced by customers while opening an account in
Standard Chartered Bank.
To get information regarding different conditions to be fulfilled for opening a
deposit account in Standard Chartered Bank.
To know the customer satisfaction with banks overall performance. to know
the staff attitude towards customers.

RESEARCH METHODOLOGY
Research means a search for knowledge or gain some new knowledge and
methodology can properly refer to the theoretical analysis of the methods
appropriate to a field of study or to the body of methods and principles
4

particular to a branch of knowledge. A Research methodology has a

specified framework for collecting the data in an effective manner.
Research methodology means a "defining a problem, defining the research
objectives, developing the research plan, collecting the information,
analyzing the information and presentation of findings." Such framework is
called Research Design". The research process that was followed by me
consisting following steps;
A) Defining the problem
B) Developing the research plan
C) Collection of Data
D) Analysis and Interpretation of Data
E) Presentation of findings

A) Defining the problem and research objectives

My

research problem is to study the product and services provided by sales

outbound team of standard chartered bank in Jalandhar

B) Developing the Research Plan

The development of research plan has following steps:
1. Data source
2. Research approach
3. Type of Research Design
4. Research instrument
5. Sampling plan
i) Sample unit
5

ii) Sample size

iii) Contact methods
6. Questionnaire Design

1.

Data Source: The researcher can get two types of data:

a) Primary Data
b) Secondary Data
c) Data Recording

a) Primary Data
Primary data is a data which did not exist earlier and is being collected by the
researcher first time for its specific objectives. In other words, direct personal
interview is conducted with the help of questionnaire.

b) Secondary data
Any data which have been collected earlier for some purpose are the secondary
data. Indirect collection of data from sources containing past or recent past
information like bank's brochures, annual publication, books etc.
Secondary sources used are:
Text books
Internet sites
6

 Newspaper articles
Broachers

2. Research Approach
Survey is best suited for descriptive and analytical research. Survey are
undertaken to learn about people's knowledge, beliefs, preferences, satisfaction
and so on and to measure these magnitudes in the general public.
Therefore, I have done this survey for Descriptive and analytical research process.
Descriptive research includes surveys and fact finding enquiries of different kinds.
The main purpose is description of the state of affairs is noted down and analytical
research used to analyze the material and facts.

3. Research instrument
Questionnaire:
Questionnaire (also known as self-administered survey) is a type of statistical
survey handed out in paper form usually to a specific demographic to gather
information in order to provider better service or goods. A document that contains
7

a set of questions that has been specially formulated as a means of collecting

information and surveying opinions, etc on a specified subject or theme, etc .A
questionnaire was constructed for my survey.

4. Sampling plan:
Sample is a group of few items which represents the population or universe from
where it has been taken. The sampling plan calls for three decisions;
a) Sample unit
b) Sample size
c) Contact methods
a) Sample unit who is to be surveyed?
The target population must be defined that has to be sampled. It is necessary so as
to develop a sample frame so that everyone in the target population has an equal
chance of being sampled. I have completed my survey in Standard Chartered
Bank, Jalandhar.
8

b) Sample size - how many people have to be surveyed?

Generally, large sample size gives more reliable results than small samples. The
sample consisted of 20 account holders of Standard Chartered Bank, Jalandhar.
c) Contact methods
Once the sampling plan has been determined the Questionnaire is how the subject
should be contracted i.e. by telephone interview, personal interview, observation,
mail etc. here, in my survey, I have contacted the respondents through personal
interviews.

5. Questionnaire Design:
a) There are 12 questions in my questionnaire and I asked all these questions from
20 account holders of Standard Chartered Bank, Jalandhar.

C) Collecting the information

After this, I have collected the information from the respondents with the help of
Questionnaire.

D) Data Analysis and Interpretation

The next step is to extract the pertinent findings from the collected data have
tabulated the collected data and developed frequency distributions.
9

Thus, the whole data was grouped aspect wise and was presented in tabular form.
Thus, frequencies and percentages were prepared to render impact of study.

E) Presentations of findings
This was the last step of survey.

LIMITATIONS OF THE STUDY:

Due to constraints of time and resources, the study is likely to suffer from certain
limitations. Some of these are mentioned here under so that the findings of the
study may be understood in a proper perspective.

The limitations of the study are:

Some of the respondents of the survey were unwilling to share information.
The research was carried out on in-house customers. i.e. within the branch in the
small city of Punjab viz. Jalandhar so the response may vary by including the
respondents from other branches in other areas as well.

10

The research was carried out in a short period of 6 weeks as a part of summer
training. Therefore the sample size and other parameters were selected
accordingly so as to finish the work within the given time frame.
The information given by the respondents might be biased because some of them
might not be interested to give correct information.

INTRODUCTION TO BANKING SYSTEM

The world of banking has assumed a new dimension at dawn of the

21stcentury with the advent of tech banking, thereby lending the industry
stamp of universality. In general, banking ay be classified as retail and
corporate banking. Retail banking, which is designed to meet the
requirements of individual customers and encourage their saving, includes
11

payment of utility bills, consumer loans, credit cards, Checking account and
the like. Corporate banking, on the other hand, caters to the needs of
corporate customers like bills discounting, opening letters of credit,
managing cash, etc.Metamorphic changes took place in the Indian financial
system during the eighties and nineties consequent began shaping up its
command earmarked ambitious plan for economic growth. Consequently, a
sea change in money and capital markets took place. Applications of
marketing concept in the banking sector were introduced to enhance the
customer satisfaction. The policy of privatization of banking services aims at
encouraging the competition in banking sector and introduction of financial
services. Consequently, services such as Demat, Internet Banking, Portfolio
Management, Venture Capital, etc., came into existence to cater to the
needs of public. An important agenda for every banker today is greater
operational efficiency and customer satisfaction. The new watchword for the
bank is ambitious: customer delight.

The introduction to the marketing concept to banking sector can be traced

back to American Banking Association Conference of 1958. Bank marketing
12

can be defined as the part of management activity, which seems to direct

the flow of banking services profitability to the customers. The marketing
concept basically requires that there should be thorough understanding of
customers need and to learn about market it operates in. Further the market
is segmented so as to understand the requirements of the customer at a
profit to the bank.

DEFINITIONS:
According to Whitehead,
A Bank is defined as an institution which collects surplus funds from the
public, safeguards them, and makes them available to the true owner when
required and also lends sums be their true owners to those who are indeed of
funds and can provide security.

According to Kent says, A Bank is an organization whose principal

operations are concerned with the accumulation of the temporarily idle
money of the general public for the purpose of advances to others for
expenditures.

13

According to Indian Banking Companies Act:

Banking company is one which transacts the business of banking, which
means the accepting for the purpose of lending or investment of deposits of
money from the public repayable on demand or otherwise and withdrawal by
Cheque, draft, order or otherwise.
The term bank in the modern times refers to an institution having
the following features:
1. It deals with money; it accepts deposits and advances loans.
2. It also deals with credit; it has the ability to expand its liabilities as to its
reserves.
3. It is commercial institution that creates demand deposits which serve as a
medium of exchange and, as a result, the banks manage the payment system
of the country.
So banks are like:

Oxygen for economy which is necessary for the generation and

management of the blood i.e. the finance of the economy and

14

circulates through the network of the bank i.e. the network of

branch.

INTRODUCTION TO BANKING
The ancient banking system of India constituted of indigenous bankers.
They have been carrying on their age old banking operations in different
parts of the country under different names.
Then came commercial banking in 1770 with the establishment of the
first joint stock bank, named the Bank of Hindustan, by an English Agency
in Calcutta, but this bank failed in 1832. In fact, real beginning of modern
commercial banking in the country was made with the establishment of
the
Bank of Bengal 1806, Later on, the Bank of Bombay and Bank of Madras
were also set up in 1840 and 1843 respectively. All these banks were
called Presidency Banks. In 1881, the first purely Indian Bank i.e. Ouch

15

Commercial Bank came into being. It was followed by the setting up of

Punjab National Bank in 1894.
The commercial banking system is divided into 2 categories.

Public Sector Banks

Private Sector Banks

STANDARD CHARTERED BANK

Standard Chartered leading the way in Asia, Africa and the
Middle East Standard Chartered PLC is listed on both the London Stock
Exchange and the Hong Kong Stock Exchange and is consistently ranked
in the top 25 among FTSE-100 companies by market capitalization.
Standard Chartered has a history of over 150 years in banking and
operates in many of the world's fastest-growing markets with an
extensive global network of over 1,400 branches (including subsidiaries,
associates and joint ventures) in over 50 countries in the Asia Pacific
16

Region, South Asia, the Middle East, Africa, the United Kingdom and the
Americas.
As one of the world's most international banks, Standard Chartered
employs almost 60,000 people, representing over 100 nationalities,
worldwide. This diversity lies at the heart of the Bank's values and
supports the Bank's growth as the world increasingly becomes one
market.

With strong organic growth supported by strategic alliances and

acquisitions and driven by its strengths in the balance and diversity of its
business, products, geography and people, Standard Chartered is well
positioned in the emerging trade corridors of Asia, Africa and the Middle
East.
Standard Chartered derives over 90 per cent of profits from Asia, Africa
and the Middle East. Serving both Consumer and Wholesale Banking
customers worldwide, the Bank combines deep local knowledge with
global capability to offer a wide range of innovative products and services
as well as award winning solutions.
17

Trusted across its network for its standard of governance and corporate
responsibility, Standard Chartered takes a long term view of the
consequences of its actions to ensure that the Bank builds a sustainable
business through social inclusion, environmental protection and good
governance.
Standard Chartered is also committed to all its stakeholders by living its
values

in

its

approach

towards

managing

its

people,

exceeding

expectations of its customers, making a difference in communities and

working with regulators.

History of Standard Chartered

Bank
The Standard Chartered Group was formed in 1969 through a merger of
two banks: The Standard Bank of British South Africa founded in 1863,
and the Chartered Bank of India, Australia and China, founded in 1853.

18

Both companies were keen to capitalize on the huge expansion of trade

and to earn the handsome profits to be made from financing the
movement of Europe to the East and to Africa.
The Chartered Bank:
Founded by James Wilson following the grant of a Royal Charter by
Queen Victoria in 1853
Chartered opened its first branches in Mumbai (Bombay), Calcutta and
Shanghai in 1858, followed by Hong Kong and Singapore in 1859
Traditional business was in cotton from Mumbai (Bombay), indigo
and tea from Calcutta, rice in Burma, sugar from Java, tobacco from
Sumatra, hemp in Manila and silk from Yokohama.
Played a major role in the development of trade with the East which
Followed the opening of the Suez Canal in 1869, and the extension of
the telegraph to China in 1871
n 1957 Chartered Bank bought the Eastern Bank together with the
Ionian Banks Cyprus Branches. This established a presence in the gulf
The Standard Bank:
19

 Founded in the Cape Province of South Africa in 1862 by John

Paterson. Commenced business in Port Elizabeth, South Africa, in
January 1863Was prominent in financing the development of the
diamond fields of

Kimberley from 1867 and later extended its

network further north to the new town of Annenberg when Gold was
discovered there in 1885
Expanded in Southern, Central and Eastern Africa and by 1953 had
600 offices
In 1965, it merged with the Bank of West Africa expanding its
operations into

Cameroon, Gambia, Ghana, Nigeria and Sierra Leone

In 1969, the decision was

made by Chartered and by Standard to

undergo a friendly merger. All was going well until 1986, when Lloyds
Bank of the United Kingdom made a hostile takeover bid for the Group.
When the bid was defeated, Standard Chartered entered a period of
change. Provisions had to be made against third world debt exposure and
loans to corporations and entrepreneurs who could not meet their
commitments. Standard Chartered began a series of divestments notably
in the United States and South Africa, and entered into a number of asset
20

sales. From the early 90s, Standard Chartered has focused on developing
its strong franchises in Asia, the Middle East and Africa using its
operations in the United Kingdom and North America to provide
customers with a bridge between these markets. Secondly, it would focus
on consumer, corporate and institutional banking, and on the provision n
of treasury services areas in which the Group had particular strength
and expertise. In the new millennium we acquired Grind lays Bank from
the ANZ Group and the Chase Consumer Banking operations in Hong
Kong in 2000.

STANDARD CHARTERED IN INDIA

The Chartered Bank opened its first overseas branch in India, at Kolkata, on
12 April 1858. Eight years later the Kolkata agent described the Bank's
credit locally as splendid and its business as flourishing, particularly the
substantial turnover in rice bills with the leading Arab firms. When The

21

Chartered Bank first established itself in India, Kolkata was the most
important commercial city, and was the centre of the jute and indigo trades.
With the growth of the cotton trade and the opening of the Suez Canal in
1869, Bombay took over from Kolkata as India's main trade centre. Today
the

Bank's

branches

and

sub-branches

in

India

are

directed

and

administered from Mumbai (Bombay) with Kolkata remaining an important

trading and banking centre.
Standard Chartered Bank in India is the largest international banking Group
in India. The bank having a combined customer base of 2.4 million in retail
banking and over 1200 corporate customers.
The key businesses of Standard Chartered Bank in India include consumer
banking - primarily credit cards, mortgages, personal loans and wealth
management - and - wholesale banking, where the Bank specializes in the
provision of cash management, trade, finance, treasury and custody
services.
Standard Chartered India was the first to issue first global credit card in India,
the first to issue Photo card, the first Picture Card and was the first credit card
22

some other product innovations of Standard Chartered Bank in India include

the 'Sapnay' credit card, the international debit card that provides free access
to over 1500 Visa ATM's, a first in the banking industry, Mileage, an overdraft
facility against the security of a car and Smart Credit, a personal line of credit
for salaried customers.

Products and services offered by Standard Chartered Bank

India
Personal Banking:

Personal Banking Plans

Accounts

Debit Cards

Prepaid Cards

Credit Cards

Loans

Investment Services
23

Insurance

Online Services

Special Offers

NRI Accounts

Commercial Banking
SME Banking

Term Loan

Express Trade

Trade Services & Working Capital

Business Installment Loan

International Trade Account

Loan/Overdraft Against Property

FOREX

Your business is growing we provide international support At

Standard Chartered, we know that doing business in today's economic climate is
challenging - and that situations and business needs can change overnight.
24

DATA ANALYSIS AND ITS

INTERPRETATION

1. Are you aware of deposit accounts provided by Standard

Chartered Bank ?
Response
Yes
No

%age of respondents
100%
00%

25

Interpretation :
Standard Chartered is one of the major overseas bank in India.
From the
above graph it is clear that all the 100% respondents are aware of
Standard
Chartered Bank.

2. How did you get the know about Standard Chartered

Bank ?
Particulars
Word of Mouth
Advertisement /Media
Executive /Telecaller from the bank
Friends/Relatives

%age of Respondents
10%
70%
05%
15%
26

Interpretation :
From the above graph it is depicted that majority of the
respondents have
come to know about Standard Chartered Bank through
advertisements
/media sources i.e. 70%. 15% respondents have come to know
about
Standard Chartered Bank through friends /relatives, 10% through
word of
mouth and remaining 5% respondents through executive /tellecaller
from the
bank.

3. Which type of deposit account do you have in

Standard Chartered
27

Bank ?
Response
Saving Account
Current Account
Others

%age of Respondents
80%
15%
05%

Interpretation :
From the above graph it clear that majority (80%)of the
respondents have
saving account with Standard Chartered Bank while 15%
respondents have
current account because they belong to business community.
Only 5%
respondents have other deposits account in Standard
Chartered Bank.
28

4. Are you aware of following facilities provided by

Standard
Chartered Bank in your account ?
Facilities
No. of Respondents
Free Internet Banking
21%
Free cheque book
40%
Free Phone Banking
16%
Free Mobile Banking
13%
Free Door Step Facility
10%

29

Interpretation :
Majority of the respondents are provided free cheque book
facility
followed by other services like mobile banking, internet
banking, free
statements/cheque book etc.

5. Do you face any problem or you are not properly

treated in
Standard Chartered Bank ?
Response %age of Respondents
Yes 5%
No 95%
Cant Say 0%
5%
95%
0%
Yes No Cant Say
Interpretation :
30

From the above graph it is clear that majority of the

respondents are not
facing any problem and they are well treated in Standard
Chartered Bank.
Only 5% respondents said that they are facing some
problems.

6. Are you satisfied with your deposit account in

Standard
Chartered Bank. ?
Response %age of Respondents
Yes 90%
No 10%
90%
10%
31

Yes No
INTERPRETATION :
From the above pie chart it is clear that majority (90%) of the
respondents
are satisfied with their present deposit account in Standard
Chartered Bank.
90% of the respondents have different deposit account such
as Savings,
Current, Term Deposits etc. While 10% of the respondents are
not satisfied
with their deposit account in Standard Chartered Bank. They
are willing to
shift to another bank.

7. Why you have opened account with Standard

Chartered Bank ?
Responses %age of Respondents
Network 25%
Quick Services 50%
Brand Name 15%
One stop bank 10%
32

25%
50%
15%
10%
Network Quick Services Brand Name One stop bank
INTERPRETATION:
The table shows 25% customers have opened their deposit
account in
Standard Chartered Bank due to good network of branches.
50% customers
have opened their account due to quality of services provided
by the Bank.
Only 15% customers have opened their account due to brand
name. Other
10% customers response to one stop bank reason. Standard
Chartered Bank
is a one stop bank because it provides all modern banking
facilities and
products to customers under one roof.

FINDINGS AND SUGGESTIONS

FINDINGS OF THE STUDY

33

_ Standard Chartered is one of the major overseas bank in

India. From
the above study it is clear that all the 100% respondents are
aware of
Standard Chartered Bank.
_ Majority of the respondents have come to know about
Standard
Chartered Bank through advertisements /media sources.
_ From the above study it clear that majority of the
respondents have
saving account with Standard Chartered Bank
_ Majority of the respondents are provided free cheque book
facility
followed by other services like mobile banking, internet
banking, free
statements/cheque book etc.
_ From the above study it is clear that majority of the
respondents are
not facing any problem and they are well treated in Standard
Chartered Bank.
_ Majority of the respondents are satisfied with their present
deposit
account in Standard Chartered Bank. 90% of the respondents
have
different deposit account such as Savings, Current, Term
Deposits etc.
34

While 10% of the respondents are not satisfied with their

deposit
account in Standard Chartered Bank. They are willing to shift
to
another bank.
_ The study shows people have opened their deposit account
in
Standard Chartered Bank due to good network of branches,
brand
name, modern banking facilities.
_ The above study shows majority of customers spent only 5
to 10
minutes to perform only transaction in the Bank
_ From the study it is clear that 85% customers would like to
recommend the name of Standard Chartered Bank to other
persons.
_ Majority of the respondents are satisfied with knowledge of
bank
employees regarding various deposit accounts of Standard
Chartered
Bank.
_ From the above study it is clear that majority of the
respondents are
satisfied with the overall performance of Standard Chartered
Bank.
SUGGESTIONS
35

_ Standard Chartered Bank should increase the number of

branches and
ATMs.
_ The bank should bring out new products and schemes at
time-to-time
so that more people can be attracted.
_ Even some gifts and prizes may be offered to the customers
for their
retention.
_ The charges for non-maintenance of balance are the higher,
so they
should be reduced.
_ Even the charges for account opening are high, so they
should also be
reduced.
_ More exposure is required through various resources
selecting the
right type of media. E.g advertisements, giving broachers.

CONCLUSION
CONCLUSION
The face of banking is changing rapidly. The competition and
challenges in
36

Indian banking sector is increasing day by day. I made this

project on the
deposits provided by Standard Chartered Bank. From the
above study I
concluded that the deposits of Standard Chartered Bank are
increasing which
shows a positive sign in favour of bank. The deposits account
holders of
Standard Chartered Bank are satisfied with the bank. The
bank is also
providing customer friendly facilities to the account holders of
Standard
Chartered.
Standard Chartered Bank is one of the oldest foreign banks in
India.
Standard Chartered Bank has to take necessary initiatives in
order to
increase customer base. The bank should increase number of
branches and
install ATMs at the prime locations of Jalandhar. The bank can
also
introduce gifts and prizes from time to time. The accounting
opening
charges for current and saving account should be reduced, so
more and more
customers can join Standard Chartered Bank.
37

From the above study, I can conclude that Standard Chartered

Bank has
maintained excellent position in the market and the
customers are satisfied
with the overall performance of Standard Chartered Bank. So,
we can say
that Standard Chartered Bank is well known for understanding
the customer
needs in the modern era of banking.

BIBLIOGRAPHY
38

BIBLIOGRAPHY
Books :
_ P. N. Varshney, Indian Financial System And Commercial
Banking,
published by Sultan Chand & Sons, Edition-1999
_ Dr. R. R. Paul : Banking & International Trade, Kalyani
Publishers,
Edition -1996
Websites :
_ www.standardchartered.com
_ www.google.com

39

ANNEXURE
QUESTIONNAIRE
1. Are you aware of deposit accounts provided by
Standard
Chartered Bank ?
Yes _ No _
2. How did you get the know about Standard Chartered
Bank ?
Word of Mouth _ Advertisement /Media _
Bank Executive /Telecaller _ Friends/Relatives _
3. Which type of deposit account do you have in
Standard Chartered
Bank ?
Saving Account _ Current Account _ Others _
4. Are you aware of following facilities provided by
Standard
Chartered Bank in your account ?
Free Internet Banking _ Free cheque book _
Free Phone Banking _ Free Mobile Banking _
Free Door Step Facility _
5. Do you face any problem or you are not properly
treated in
Standard Chartered Bank ?
40

Yes _ No _ Cant Say _

6. Are you satisfied with your deposit account in
Standard
Chartered Bank. ?
Yes _ No _
7. Why you have opened account with Standard
Chartered Bank ?
Network _ Quick Services _
Brand Name _ One stop bank _
8. How much time you spent for any transaction in
Standard
Chartered Bank ?
5 to 10 minutes _ 15 to 20 minutes _
More than that _
9. Would you like to recommend the name of Standard
Chartered
Bank to your known person ?
Yes _ No _ Cant Say _
10. How do you rate the attitude of staff of Standard
Chartered Bank
towards customers ?
Highly Satisfied _ Satisfied _
Dissatisfied _ Highly Dissatisfied _
11. How do you rate the knowledge of bank employees
regarding
various deposits accounts and services ?
41

Highly Satisfied _ Satisfied _

Dissatisfied _ Highly Dissatisfied _
12. Are you satisfied with the overall performance of
Standard
Chartered Bank?
Yes _ No _

42