A PROJECT REPORT

On
“Create Awareness of Bank’s 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.

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 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

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 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 researcher’s 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.

4 4
 DECLARATION
I hereby declare that the project entitled “Create
Awareness of Bank’s 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 (MUKHAR GOEL)

Date: June Roll No.: 9 Batch: 2008-2010

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 TABLE OF CONTENTS
S.NO TOPIC PAGE
NO.
1 Company Overview 7
2 Origin of ING Group 8
3 Company Profile 9
4 Mission 9
5 New Identity 10
6 Milestones in the journey of 11
ING-VYSYA bank
7 Balance-sheet 13
8 Profit & Loss Account 14
9 Cash Flow 15
10 Board of Directors 16
11 Synopsis 17
12 Facts about ING VYSYA 20
13 Products 22
14 Executive Summary 54
15 Introduction of Banking Industry 56
16 Training session on Selling Skills 66
17 KYC 77
18 Research methodology 80
19 Analysis of Data 88
20 Conclusions & 94
Recommendations
21 Questionnaire 98
22 Bibliography 102

6 6
 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 a 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

7 7
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

8 8
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 by successfully establishing life
insurance companies in countries with 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 client’s preference

9 9
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 Set up in Bangalore

1948 Scheduled bank
1985 Largest private sector bank
1987 The Vysya Bank Leasing
Ltd .Commenced

10 10
1988 Pioneered the concept of
Co branding of credit Cards
1990 Promoted Vysya Bank
Housing Finance Ltd.
1992 Deposits cross Rs.1000
crores
1993 Number of branches
crossed 300
1996 Signs Strategic Alliance with
BBL.,Belgium. Two National
Awards by Gem & Jewellery
export Promotion council for
excellent performance in
export promotion.
1998 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
Company
2001 ING-Vysya commenced life
insurance business.
2002 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
net banking service.
2002 ING takes over the
Management of the Bank
from October 7th , 2002
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
2004 Introduced Protected Home
Loans - a housing loan
product
2005 Introduced Solo - My Own
Account for youth and
Customer Service Line –
Phone Banking Service
2006 Introduced Solo - My Own
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)
Mar’08 Mar’07 Mar’06

Sources of funds
Owner’s fund
Equity share capital 102.47 90.90 90.72
Reserves and surplus 1323.67 901.60 817.41

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Loan Funds
Secured loans Nil Nil Nil
Unsecured loans 20,498.20 16,411.09 14,243.39
Total 21,924.20 16,411.09 14,243.39

Uses of Funds

Fixed assets
Gross Block 706.82 681.06 676.23
(-)Revaluation 109.52 110.78 111.54
reserve
(-)Accumulated 429.31 394.33 383.02
depreciation
Net Block 167.99 175.95 181.67
Capital WIP 121.70 109.24 112.20
Investments 6293.32 4527.81 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
assets

Total 5339.69 3686.78 3995.97

14 14
 Profit & loss account of ING-VYSYA Bank Ltd.

(Rs in
crores)

Mar’08 Mar’07 Mar’06

Income
Operating Income 1983.64 1537.22 1321.24

Expenses
Personnel 302.39 238.48 234.19
expenses
Selling Expenses 4.28 3.49 5.36
Administrative 299.90 296.56 295.43
expenses
Cost of sales 606.56 538.53 534.98
Operating profit 195.03 139.38 45.01
Other recurring 121.62 56.87 31.56
Income
Adjusted PBDIT 316.66 196.26 76.57
Financial 1182.05 859.31 741.25
expenses
Depreciation 38.93 37.98 37.20
Other write offs Nil Nil Nil
Adjusted PBT 277.72 158.27 39.37
Tax charges 94.53 38.72 12.46
Adjusted PAT 151.57 83.92 6.01
Non-recurring 3.38 4.99 3.05
items
Reported net 154.95 88.91 9.06
profit
Earnings before 173.39 90.20 -25.55

15 15
appropriation
Equity dividend 15.37 5.91 Nil
Preference Nil Nil Nil
dividend
Dividend Tax 2.61 1.00 Nil
Retained 155.41 83.29 -25.55
earnings

Cash flow
(Rs in crores)
Mar’08 Mar’07 Mar’06
Profit before tax 251.46 127.63 21.52
Net cash flow- 1426.23 308.12 -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

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financial activity
Net 1593.06 468.37 8.84
increase/decrease
in cash and
equivalent
Cash and 1591.70 1123.33 1114.50
equivalent at the
beginning of the
year
Cash and 3184.76 1591.70 1123.33
equivalent at the
end of the year

Board of Directors

S.no. Name of the person Designation

1 Aditya Krishna Director
2 Arun Thiagarajan Director
3 K R Ramamoorthy Director

4 K R V Subrahmanian Director
5 M Damodaran Non-Executive

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 and Non
Independent
Director
6 Philipee Damas Additional Director
7 Ramakrishnan Subramanian Director
8 Richard Cox Additional Director
9 Ryan Andrew Padgett Director
10 Santosh Ramesh Desai Additional director
11 Vaughn Nigel Richtor Managing Director
and Chief
Executive Officer
12 Wilfred Nagel Additional Director

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.

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 Data Collection

1- Questionnaire filled by-

a) Existing customers of ING in Bareilly

b) New customers who are not associated with ING in
Bareilly.

Research Design

• Problem identification

• Data collection related to awareness of ING in

Bareilly.

Sampling Technique

Convenience sampling
• 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.

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Research technique
Conclusive research
• 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 Uttar-

Pradesh.
Bank

Assets Liabilities

A thing for which

20
one is responsible20
 A thing owned by
a someone
having some
value

CASA TD/FD Others

Current Term Lockers

account deposits

Fee Income
Savings Fixed products
account Depoits

Fee Income Products

Life Insurance General Mutual Funds Portfolio

Insurance management
service

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 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.

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  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.

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Benefits:

 Free unlimited access to 25,000+ other bank ATM’s -

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

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 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.

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  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 ATM’s and 6
transactions at Cirrus ATM’s 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 employee’s
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

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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 ATM’s

 Enhanced Accessibility - Unlimited access to ING

Vysya, Corporation Bank and Cirrus ATM’s

 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 employee’s

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

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 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.

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  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.

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  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 don’t 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 ATM’s or
member ATM’s and withdraw cash up to Rs. 50,
000/- a day from ING ATM
What’s more, utilize this facility at over 25,000 ATM’s
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) ATM’s 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
ING Formula
Details ING Platina
Savings
Account
Account
Quarterly Average Balance (QAB*) Requirement
1.Requirement to
maintain Platina
status
2.Requirement to
Rs.1,00,000/- NIL
avoid non-
Rs.5,000/- NIL
maintenance
charges
NIL Rs.25,000/-
3.*Quarterly
Average
Balance(QAB)
Requirement
Service Charges for Non-Maintenance of Quarterly Average
Balance (QAB)
1.First two calender No charge; NIL
quarters if QAB > = Platina status
Rs. 5,000/- retained NIL
2.First two calender
quarters if QAB < Rs. 600/- per NIL
Rs. 5,000/- quarter; Platina

42 42
 status retained
3.After first two
calender quarters if Rs. 600/- per
QAB < Rs. 5,000/- quarter; Platina
Rs. 750/-
4.Quarterly service status
charges for non withdrawn
maintenance of QAB
NIL
General Charges
Statement of
Accounts
Free Quarterly NIL
1.Where QAB is Free Yearly NIL
maintained NIL Free Quarterly
2.Where QAB is not
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 request
Accounts Issued free of Free
Daily charges - both
Weekly MICR and 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 Free Free

International ATMs USD 1.50 per USD 1.50 per

- Withdrawal withdrawal withdrawal
International ATMs USD 0.50 per USD 0.50 per
- Enquiry enquiry enquiry

Savings A/c's
Cash withdrawl at without QAB of
other Bank ATMs Rs. 5,000/-
Balance Enquiry Rs. 20/- per
Issue of transaction Free*
International Debit Free Rs.250/- per
Card Free* annum(Inclusive
Annual Rs. 150/- per of Service Tax)
Maintenance annum

44 44
 charges for Debit
Card

Standing
6
Instructions
1. Transfer from
one account to
another account NA Free
within profile
network(Intercity)
Set Up - Rs. 50/-
Amendment-
Rs.25/-
Execution -
2. External
NA Rs.25/- per
payments
execution +
Demand Draft
charges +
Postage
Closure of
7
Accounts
1. Within 1 year of
NA Rs. 100/-
opening
Remittances
1 Demand Draft / Pay Free issuance NA

45 45
 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/-)
Order
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/-)
2 Charges for PAP Free & Free

46 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
Charges for RTGS
transaction & transaction & Rs.5
4 (Inward : free for all
Rs.5 lakhs and lakhs and above
products)
above Rs.50/- Rs.50/- per
per transaction
transaction
5 Charges for NEFT Up to Rs.1 Up to Rs.1 lakh,
(Inward & Outward, lakh, Rs.5/- Rs.5/- per
Inward: free for all per transaction & Rs.1
products) transaction & lakh & above,
Rs.1 lakh & Rs.25/- per
above, Rs.25/- transaction
per (Free if transacted
transaction through mi-b@nk,
(Free if Internet Banking)
transacted
through mi-
b@nk, Internet

47 47
 Banking)
(Not
applicable to
third party
AAA cash
AAA (inter-city)
deposits)
6 transaction - cash FREE
2 free
deposits
transactions
per month up
to value limit
of Rs. 50,000/-
Charges beyond free
limit Up to Rs.50,000/-
Rs. 2/- per Rs.
Rs.2.50 per
1,000/-
Up to and exclusive Rs.1000/-, min
Rs. 5/- per Rs.
of Rs. 25,000/- Rs.50;
1,000/-
Above Rs. 25,000/- Rs.50,001/- to Rs.
Rs. 5/- per Rs.
to less than Rs. 2 lakhs - Rs.2.00
7 1,000/-
50,000/- per Rs.1000/- min
Rs. 2/- per Rs.
Rs. 50,000/- and of Rs.125;
1,000/-
above Beyond Rs. 2
Rs. 50/- per
All third party lakhs - Rs.1.00 per
AAA cash
deposits Rs.1000/- min
deposit
Minimum charges 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
Local clearing
1 (networked Free
– Free
branches)
locations
Outstation cheque
drawn on ING
2 Free Free
Vysya branch
locations
3 NRI Accounts Free
4 Outstation - non Rs. 50/- + Out Rs. 50/- + Other
networked of pocket bank charges +
branches / non ING expenses + Postage / Courier
Vysya Bank Other bank
locations upto and charges + Rs. 4 per Rs.
including Rs. Postage. 1,000/- (Min. Rs.
10,000/- 50/- & Max.
Rs. 4 per Rs. Rs.5,000/-) + Other
Above Rs. 10,000/- 1,000/- (Min. bank charges +
Rs. 50/- & Max. Postage / Courier

49 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 NA cheque & Rs.
branches 100/- per series
Cheque return charges per instrument
Cheques deposited
Rs. 50/- +
by customers and
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 Rs. 200/- per
customers and cheque for 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.
including IVBL - No charge
cheques
Special Services
Balance
1 Rs. 25/- Rs. 25/-
confirmation
Signature Rs. 25 per Rs. 25 per
2
verification attestation attestation
Rs.25/- per Rs.25/- per
3 No due certificate
certificate. certificate.
Rs.100 for
Rs.100 for each
each enquiry
enquiry more than
more than one
4 Old record Enquiry one year old from
year old from
the date of
the date of
request
request
Charges for changes
in the operational
5 instructions or noting Free Free
change in the
signature/name

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 following-
 Banking 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 that-
What factors are really responsible for performance of
ING Bank’s performance in this competitive era.

Industry status & ING-VYSYA Bank’s 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 PSB’s
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 Bank’s
merger with Times Bank , ICICI Bank’s 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 pandora’s 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 India’s
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 year’s 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 2000-
2001, 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 doesn’t 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 62
 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 learning’s 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

Good Qualifying Leads Poor Qualifying Leads

Customers who you think will fulfill Customers who you think may not able
the KYC norms without much to provide required documentation as
difficulty and you can convert them per the KYC norms.
into your customers.

Follow-up and convert Stop working on such

leads

66 66
 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
& 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. Don’t 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 they’re 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

a) 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 today’s 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 detailer-

Tips for effective presentation

 Memorize the details on the chart

 Hold the chart in such a way that it’s 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.

What’s the impact of not following KYC?

The organization faces a reputation risk and the sales

73 73
executive may face appropriate charges/actions for non-
complying 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 are-
 To know about environmental factors affecting
ING-Vysya Bank’s 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 Bank’s 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

74 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 a new successful strategy with a 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 following-
1. Competitors
2. Customer Behavior
3. Advertisement/promotional activities
4. Attitude of manpower and
5. 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

76 76
which I used for project from statistics are-
 Bar 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

78 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 100
Area Bareilly
Type Primary & Secondary
Industry Banking
Respondent Customers

80 80
Table1: Correlation between awareness of customers
about ING

NO. OF RESPONSE AGE

15 20-25
25 25-30
5 30-35
10 35-40
11 40-45
10 45-50
12 50-60
12 60-ABOVE

25
20
15
10 No.of
responses
5
0
20- 30- 40- 50-
25 35 45 60

81 81
 TABLE 2: PERCEPTION OF ING AS A BANK

TYPE OF BANK RESPONSES

PRIVATE 50
PUBLIC 15
PRIVATE/PUBLIC 25
DON'T KNOW 10

10

Private
25
Public
50 Private/Public
Don't know

15

TABLE 3 : RATING OF CUSTOMERS FOR ING BANK

AS A GOOD BANK
PARAMETER RESPONSES
EFFICIENCY 75%

82 82
 INTERNET BANKING/ATMs 5%
PRODUCT RANGE 10%
NETWORK 5%
PHONE BANKING 5%

Efficiency

Internet
5%5% banking/ATM
10%
s
5%
Product
range
75%
Network

Phone
Banking

TABLE 4: MARKET SHARES OF ING IN BAREILLY IN

COMPARISION TO COMPETITORS
BANK NAME % OF SHARE
SBI 30%
IDBI 15%
ICICI 25%
PNB 10%
HDFC 5%
ING 5%

83 83
 OTHERS 10%

30%
25% SBI
IDBI
20%
ICICI
15%
PNB
10% HDFC
5% ING
0% OTHERS
% OF SHARE

TABLE 5: FACTORS RESPONSIBLE FOR

PERFORMANCE OF ING BANK IN BAREILLY

PARAMETERS % OF SHARE
PRODUCT 50%
ADVERTISMENT 5%
MANPOWER 25%
NET-BANKING 2%
PHONE BANKING 5%
INVESTMENT SCHEME 10%
NETWORK 3%

84 84
 60%
50%
50% PRODUCT
ADVERTISMENT
40%
MANPOWER
30% 25% NET-BANKING
PHONE BANKING
20%
PERSENTAGE INVESTMENT SCHEME
10%
10% 5% 5% NETWORK
2% 3%
0%
% OF SHARE
PARAMETERS

TABLE 6: THE EFFECTIVENESS OF COMMERCIALS

OF ING BANK

DAYS AFTER THE AD IS

SEEN POSITIVE RESPONSE
0-5 days 45
6-10 days 15
11-15 days 25
More than 15 days 15

85 85
 45
40
35
30
25
20
15 Positive
10 response
5
0
0-5 11-
days 15
days

Table 7:Products/Services the customers are

presently availing

86 86
 Savings account 35
Current Account 25
FDR 15
Life Insurance 5
Mutual Fund 7
SIP 2
Lockers 5
Demat Account 6

87 87
 Savings a/c
6 Current a/c
25
7 35 FDR
5 LI
MF
15 SIP
25 Lockers
Demat a/c

88 88
 Table:8 Satisfaction level of the respondents from
their respective banks

Highly satisfied 2
Satisfied 75
Neither satisfied nor 15
dissatisfied
Dissatisfied 6
Highly Dissatisfied 2

89 89
 6 22

15 H.Satisfied
Satisfied
N.S.N.DS
DS
H.DS
75

90 90
 Table 9: No.of Respondents know about ING Bank

Never heard 80
Heard few times 15
Heard frequently 5

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 25

Preferred services 35
Normal services 40

25 High priority
services
40
Preferred
services
Normal
35 services

92 92
 Table 11:Type of investment the respondents like to
invest
FDR, NSC 55
Mutual Fund 5
SIP 5
LI 15
Shares 5
Gold 5
Govt. & Tax saving Bonds 10

10 FDR,NSC
5 MF
5
SIP
LI
15 55 Shares
5 Gold
5 Govt.Bonds

Table 12: No.of Respondents availing the facility of

Locker

Yes 65
No 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 35
Operating time 15
Rental/Security charges 35
Locker Size 10

94 94
 Parking space outside 5
bank

5
10

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

15

Preferences of respondents in respect of

hiring a locker

Table 14: Categorization of respondents on the basis

of Annual Income

< 60000 2
60000-100000 25
100000-500000 65

95 95
500000-1500000 6
>1500000 2

<60000
6 22
25 60000-
100000
100000-
500000
500000-
1500000
65
>1500000

Table 15: Categorization of respondents on the basis

of Education

Under-Graduate 5
Graduate 85
Post-Graduate 10

96 96
 10 5

UG
Graduate
PG

85

Table 16: General impression of the respondents

about
ING-Vysya Bank

High Quality services & 5

Reliability
Average quality services 90
& Dependability
Low quality services & 5

97 97
 Reliability

High quality
5 5 services

Average
quality
services
Low quality
90 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 don’t 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

that’s why people are reluctant in opening the same.

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 respondent’s 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._______________

103 103
5) Education__________________

6) Marital Status ______________-

7) Occupation:

Salaried Retired

Business House-wife

Self-Employed Student

Agriculture
Others(specify)_________

8) Income P.A.:

<60000

60000-100000

100000-500000

104 104
500000-1000000

>1500000

9) Your current Bank __________________________

10) 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.

I’ve never heard before

I’ve 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 Shares

SIP Gold

Life Insurance Government

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

It’s 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

109 109
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

______________________________________________
______________________________________________
______________________________________________
______________________________________________
______________________________________________
______________________________________________
______________________________

110 110
 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, 6th
Ed.,john willy & sons,1997.
5) ICFAI Journal of Banking
6) The Economics times

111 111
 7) The Times of India

112 112