Customer Satisfaction towards J&K Bank by Ishfaq Ahmed Reshi

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  • 1. A Summer Training Project Report On “Customer Satisfaction Survey of J&K Bank” Lovely Professional University In the partial fulfillment of the requirement for the award of “Master of Business Administration” Lovely Professional University Submitted by: Ishfaq Ahmed Reshi University Roll No.:- A25 DEPARTMENT OF MANAGEMENT LOVELY PROFESSIONAL UNIVERSITY JALANDHAR NEW DELHI GT ROAD PHAGWARA PUNJAB 1
  • 2. ACKNOWLEDGEMENT (In the name of Allah, the most Beneficent and the most Merciful) A successful project is the result of team work and co-ordination that includes not only the group of developers who put forth the ideas, logic and efforts but also guide them. So at the completion of the project, I feel obliged to extent my gratitude towards all those made valuable contribution throughout my training period. I express my thanks to all those associated with this project including customers at J&K Bank who shared their opinions and experiences through which I received the important information required for the successful completion of the project. I deem it to be profound privilege to express my deep sense of gratitude and profound personal regards to esteem in charge of Marketing Department Mr. Mushtaq Ahmad Khan, whose impeccable guidance, critical analysis, constant encouragement and unparalleled execution of the essential requisites during the entire course of the study are beyond reach of my formal words. In addition, I wish to convey my deep sense of gratitude towards Mr. Hakeem Abid for his constant support and guidance at any time I needed. I would like to record my deepest sense of gratitude to my parents, and friends for their continuous support who helped me for making this project a success. 2
  • 3. DECLARATION I hereby declare that this project report titled “CUSTOMER SATISFATION TOWARDS J&K BANK” has been done all by me under the valuable guidance of my guides in the partial fulfillment for the award of the degree of Masters in Business Administration from Lovely Professional University. I also declare that this project is the result of my own efforts and has not been submitted in part or full towards any other degree. Ishfaq Ahmed Reshi Registration Number: 11205770 Master of business administration Lovely Professional University Phagwara, Punjab 3
  • 4. EXECUTIVE SUMMARY In few years JAMMU & KASHMIR BANK financial services has emerged as a tool for ensuring one’s financial well-being. Customer is considered to be a king .The customer of the present day dictates the terms and conditions through which his needs are to be fulfilled. Banking industry, which is one of the measure financial service providers in the economy, draws the attention of many with regard to the customer services. In this context a study has been conducted with the J&K bank to measure the satisfaction level of customers. This report gives a brief about the history and functioning of J&K bank and the relationship with its customers. It also attempts to analyze the behavior and perception of customers about the facilities provided by the bank. While dealing with customers of the bank most of them showed a satisfactory approach towards the different services and facilities provided by the bank. This project gave me a great learning experience and at the same time it gave me enough scope to check the satisfaction level of customers of the J&K bank for this research I have taken a sample size of 260 and Out of those respondents, 224 respondents are satisfied with the services provided by bank. Out of these 260 respondents, 205 respondents also think that J&K bank products cater all their banking needs, out of these 260 respondents, 130 respondents are availing the services of J&K bank because of its better quality services. , 124 respondents thinks that the services of J&K bank is good than other banks. Out of 260 respondents, 203 respondents are satisfied with the cooperation of J&K bank employees in giving information about the services and products of the bank I hope the research findings and conclusions will be of use. 4
  • 5. S.no Title of contents Page no. 1. Introduction to the Indian Banking System 06 2. Introduction to the Company 07-19 3. SWOT Analysis of J&K Bank 20-21 4. Introduction to the Topic 22-25 5. Literature Review 26-30 6. Research methodology 31-32 7. Data Analysis and Interpretation 33-47 8. Findings,Sugesstions And Recommendations 48-49 9. Bibliography 50-51 10. Annexure 52-58 5
  • 6. INTRODUCTION TO THE INDIAN BANKING SYSTEM1 The Indian Banking system has a large geographic and functional coverage. Presently the total asset size of the Indian banking sector is US$ 270 billion with a branch network exceeding 66,000 branches across the country. Revenues of the banking sector have grown at 6 per cent CAGR over the past few years to reach a size of US$ 15 billion. While commercial banks cater to short and medium term financing requirements, national level and state level financial institutions meet longer-term requirements. This distinction is getting blurred with commercial banks extending project finance. The total disbursements of the financial institutions in 2001 were US$ 14 billion. BANKING Banks are the institutions where those who have some savings can keep their money in the form of deposits & those who need money borrow money on payment of interest with certain conditions that assure recovery of the borrowed money. The rate of interest charged by the bank from its borrower is usually higher than what it pays to the depositor. In addition to the safe money keeping of depositor and money lending to the borrower a bank also helps people in many kinds of money transactions. In brief the main functions of bank are:1. Receiving money from the depositors 2. Lending money on demand 3. Transferring money from one place to another 4. Receiving payment for public utility services such as telephone bills, house tax etc 5. Renting safe deposits locker for safe custody of valuables 6. Helping travelers and tourist by providing travelers cheques and foreign currency etc. 1 Available at www.prakritiindia.co.in url http://www.prakritiindia.co.in/aboutindia/htm/financialsector.htm Viewed on 03/06/2013 6
  • 7. Introduction to the Company 2 Table: 1:-Company at a glance The Jammu and Kashmir Bank Limited Founded 1938 Headquarters M.A Road Srinagar, J&K Number of locations 691 branches/offices ATM = 613 Area served Mostly J & K Industry Financial, Commercial banks Revenue 6,620.53 cr Employees More than 10000 Website http://www.jkbank.net/ 2 Available at www.iloveindia.com url http://www.iloveindia.com/finance/bank/private-banks/jammu-andkashmir-bank.html viewed on 03/06/2013 7
  • 8. HISTORY OF J&K BANK3 The Jammu & Kashmir Bank was founded on October 1, 1938 under letters patent issued by the Maharaja of Jammu and Kashmir, Hari Singh. The Maharaja invited eminent Kashmiri investors to become founding directors and shareholders of the bank, the most notable of which were Abdul Aziz Mantoo, Pesten Gee and the Bhaghat Famil y, all of whom acquired major shareholdings. The Bank commenced business on July 4, 1939 and was considered the first of its nature and composition as a State owned bank in the country. The Bank was established as a semi-State Bank with participation in capital by State and the public under the control of State Government. The bank had to face serious problems at the time of independence when out of its total often branches two branches of Muzaffarabad, Rawalakot and Mirpur fell to the other side of the line of control (now Pakistan-administered Kashmir) along with cash and other assets.Following the extension of Central laws to the state of Jammu & Kashmir, the bank was defined as a government company as per the provisions of Indian companies act 1956. Mushtaq Ahmed is the new CEO& Chairman of J&K bank. It was in the year 1971 that Jammu and Kashmir Bank was granted the status of a 'Scheduled Bank'. Five years later, it was declared as "A" Class Bank, by the Reserve Bank of India (RBI). As the years passed on, the bank started achieving more and more success. Today, it boosts of more than 691 branches across the country. It was onl y recentl y that Jammu and Kashmir Bank became a billion dollar company. Governed by the Companies Act and Banking Regulation Act of India, it is regulated by RBI and SEBI. It finds a listing on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) as well. Awards and Recognitions of J&K Bank Europe Business Assembly Awards, London4 3 Available at www.iloveindia.com url http://www.iloveindia.com/finance/bank/private-banks/jammu-andkashmir-bank.html Viewed on 03/06/2013 8
  • 9. The Bank bagged the prestigious ‘Best Enterprise’ award from Europe Business Assembly (EBA) in London. The Socrates Committee of EBA also awarded the Chairman and CEO - Mr. Mushtaq Ahmad with ‘Manager of the Year’ medal and a special statue. FE India’s Best Banks Award-2012-135 The Bank was ranked as No. 1 in ‘Best Old Private Sector Bank’ category in the survey conducted across the banking industry. In terms of ‘Profitability’, the Bank stands 3rd in the overall banking industry while as 1ST in the category of ‘Old private sector banks’. The Award is the recognition of the Bank's strong fundamentals and dynamic growth model. India Human Capital Awards 20126 For its leadership role in the human resource management practices, J&K Bank was conferred with HR Leadership Award in the second India Human Capital Awards 2012. The award is the recognition of Bank’s strategic and iconic position as a role model for professionalism and management excellence in the banking industry. IPE HRM Congress Awards7 The Bank has been conferred with the prestigious HR Leadership Award at IPE HRM Congress Awards organized under the aegis of APHC Asia Pacific HRM Congress 2012. Dun & Bradstreet Banking Awards8 J&K Bank was awarded the Best Bank in the prestigious 'Dun & Bradstreet (D&B) - Polaris software Banking Awards 2011 in the category for "Rural Reach - Private Sector" 4 Available at:- m.risingkashmir.in url http://m.risingkashmir.in/news/jk-bank-gets-%E2%80%98bestenterprise%E2%80%99-award-from-eba-45406.aspx#.UfpWCNJHKuk 5 Available at:- www.jagranjosh.com url http://www.jagranjosh.com/current-affairs/jammu-and-kashmirwon-fe-indias-best-bank-award-201213-1364899875-1 6 Available at:- www.greaterkashmir.com url http://www.greaterkashmir.com/news/2012/Dec/19/j-kbank-bags-hr-leadership-award-41.asp 7 www.greaterkashmir.com url http://www.greaterkashmir.com/news/2012/Sep/15/jk-bank-bags-hrleadership-award-31.asp Viewed on 04/06/2013 8 Available at :- rk.dzinternational.com url http://rk.dzinternational.com/news/jk-bank-awarded-best-pvtsector-bank-794.aspx 9
  • 10. FE India's best banks Award9 The Bank won the prestigious Financial Express Best Banks Award in the Old Private Sector Banks Category for Scaling up its business and strengthening the balance sheet for the year ended March 2011. The Award is the recognition of the Bank's innovative approach towards the business, both within and outside J&K. J&K Bank’s Annual Report 2008-09 10 J&K Bank’s Annual Report 2008-09 has won three awards at the prestigious LACP 2009 Vision Awards – the world’s largest award programme for Annual Reports, organized by California-based League of American Communications Professionals (LACP), USA. The LACP is a forum within the public relations industry that facilitates discussion of best-in-class practices in public relations and recognizes exemplary communication capabilities at a global level. The awards received include – Rank 73 on the top hundred lists of annual reports from around the world, Platinum Award in the Commercial Banks – Up to $10billon annual revenue from the Asia Pacific Region and Silver Award for Most Creative Report across all sectors from the Asia Pacific Region. 9 Available at :- www.jagranjosh.com url http://www.jagranjosh.com/current-affairs/jammu-and-kashmirwon-fe-indias-best-bank-award-201213-1364899875-1 10 Available at:- www.statetimes.in url http://www.statetimes.in/news/jk-bank-annual-report-wins-three-visionawards/ Viewed on 04/06/2013 10
  • 11. Organizational Profile of Jammu And Kashmir Bank 11 1. Despite government holding 53% of equit y shares, still its private sector bank. 2. It is Government Company under Indian companies Act 1956. 3. It is an operational exclusivit y a virtual monopol y in J&K and functional distinctiveness- government owned private bank. 4. It is a sole banker of the Government of J&K. 5.It is the onl y private sector bank designated as agent of RBI for banking business. 6. It carries out banking business of the Central Government in J&K. 7. It collects taxes pertaining to Central Board of Direct Taxes in J&K. INFRASTRUCTURE: Global Standards of J&K Bank 12 1. It is the fastest growing bank with 691 branches across the country. 2. 98% of the business of J&K bank is computerized. 3. An ywhere banking Tele- Banking and SWIFT are facilities available in J&K bank. 4. Internet banking, SMS and mobile banking is provided by J&K Bank. 5. ATMs connected globall y to all Master- Card networked ATMs. 6. Mobile ATM services are available-first of its kind in Northern India. 7. J&K bank Global access Debit Cards: Cirrus and Maestro enabled. 8. Credit cards are also available. 9. It is live on RTGS S ystem of RBI 10. It has Electronic Fund Transfer (EFT) S ystem available. 11 Available at www.iloveindia.com url http://www.iloveindia.com/finance/bank/private-banks/jammu-andkashmir-bank.html 12 Available at www.docstoc.com url http://www.docstoc.com/docs/119362503/Management-andperformance-of-JandK-Bank Viewed on 09/06/2013 11
  • 12. Performance at a glance 13 1. The aggregate business of the Bank crossed yet another milestone mark and stood at Rs.1, 03,421.03 Crores at the end of FY 2012-13. The total business of the Bank increased by Rs. 16,996.71 Crores from the previous year’s figure of Rs. 86,424.32 Crores, registering a growth of 19.67%. 2. The total deposits of the Bank have grown by Rs. 10,873.72 Crores from Rs. 53,346.90 Crores, as on 31st March, 2012, to Rs. 46,220.62Crores, as on 31st March, 2013, registering a growth of 20.38%.CASA deposits of the Bank at Rs. 25,191 Crores constituted 39.23% of total deposits of the Bank. 3. Cost of deposits for current FY stood at 6.87%. 4. The Bank continued its prudent approach in expanding qualit y credit assets in line with its policy on Credit Risk Management. The net advances of the Bank increased by Rs. 6,122.99 Crores from Rs. 33,077.42 Crores, as on 31st March, 2012, to Rs. 39,200.41 Crores, as on 31st March, 2013, a growth of 18.51%. 5. Yield on advances for the current FY improved to 12.59%, compared to 12.12% for FY 2011-12. 6. Priorit y sector advances (Gross) stood at Rs. 11,591.58 Crores, as on 31st March, 2013. 7. The Bank’s performance in the recovery of NPAs during the year continued to be good. The Bank effected cumulative cash recovery; up gradation of NPAs and technical write-off of Rs. 327.83 Crores, compared to Rs. 316.91 Crores in the previous year. 8. Investment portfolio of the bank increased by Rs. 4,116.74 Crores From Rs. 21,624.32 Crores, as on 31st March, 2012, to Rs. 25,741.06 Crores, as on 31st March, 2013. 13 Available at 16anna.accordfintech.com url http://16anna.accordfintech.com/CompanyProfile/DirectorsReports.aspx?id=23&FinCode=132209 Viewed on 11/06/2013 12
  • 13. Insurance Business 14 The Bank’s income reached Rs. 37.41 Crores from the Insurance Business. In life insurance, the Bank mobilized business of Rs. 63.44 Crores and in non-life segment, business of Rs. 92.88 Crores was Mobilized during the year. Meaning of Logo of J&K Bank15:The new identity for J&K Bank is a visual representation of the banks philosophy and business strategy. The three colored squares represent the three regions of J&K namely Jammu, Kashmir and Ladakh. The counter form created by the interactions of the squares is a falcon with outstretched wings-a symbol of power and empowerment. Green signifies Growth and Renewal Blue conveys Stability and Unity. Red Represent Energy and Power The synergy between the three regions propels the bank towards new horizons. All these attributes are integrated and assimilated in the white counter-form. 14 Available at 16anna.accordfintech.com url http://16anna.accordfintech.com/CompanyProfile/DirectorsReports.aspx?id=23&FinCode=132209 15 Available at www.jkbank.net url http://www.jkbank.net/newwid.php Viewed on 11/06/2013 13
  • 14. Channels of Distribution 16 The Jammu & Kashmir Bank is today one of the fastest growing banks in India with a network of 691 branches/offices spread across the country offering world class banking products/services to its customers. Today, the Bank has a status of value driven organization and is always working towards building trust with Shareholders, Employees, Customers, Borrowers, Regulators and other diverse Stakeholders, for which it has adopted a strategy directed to developing a sound foundation of relationship and trust aimed at achieving excellence, which of course, comes from the womb of good Corporate Governance. J&K Bank is managed by an independent and highly qualified Board following best globally accepted practices, transparent disclosures and empowerment of shareholders, besides ensuring to meet shareholders’ aspirations and societal expectations following the principles of management's executive freedom to drive the bank forward without undue restraints but within the framework of effective accountability During FY 2012-13, 70 new branches were established and 12 Extension Counters were upgraded into full-fledged Branches, thereby taking the number of branches to 691, as on 31st March, 2013, spread over 20 states and one union territory. The area-wise breakup of the branch network (excluding extension counters/mobile branches and Service branches), as at the end of FY 2012-13 is as under: Table 2:Area Branches Metro 39 Urban 184 Semi urban 136 Rural 332 Total 691 16 Available at economictimes.indiatimes.com url http://economictimes.indiatimes.com/jammu-&-kashmirbank-ltd/directorsreport/companyid-8611.cms Viewed 13/06/2013 14
  • 15. Products/Services offered by J&K Bank 17 1. Saving Bank Deposits A. Deluxe Savings Account B.General Savings Account C.Deluxe Salary Account D.General Salary Account Bank also offers a basic no frills savings account “SB UJALA” for inclusion of economically disadvantaged sections of society. 2. Term deposits A. Millennium Deposits Scheme B.Flexi Deposits Scheme C.Fix ed Deposits Scheme D.Child Care Scheme E.Cash Certificates F.uper Earner Deposits Scheme G.Recurring Deposits Scheme H.Recurring plus Account I.smart Saver Scheme J.Depositors Pension Scheme 3. Value added schemes A. Tax Saver Term Deposit Scheme B.Mehendi Deposit Certificate C.Daily Deposit Saving Scheme 17 Available at http://www.jkbank.net 15
  • 16. 4. Gift cheque scheme 5. Current accounts A. Platinum Current Account B.Gold Current Account C.Premium Plus D.Current Account E.Premium Current Account F.Basic Current Account 6. Loans A. Housing Loan Scheme B.Education Loan Scheme C.Car Loan Scheme D.Car Loan for Used Car E.Commercial Vehicle Finance F.Commercial Vehicle Finance (Used Vehicles) G.Two Wheeler Finance 7. Other Finances A. Consumer Loan. B.Consumption Loan. C.Personal Loan to Pensioners Mortgage D.Loan for Trade & Service Sector E.Loans against Mortgage of Immovable Propert y F.Fair Price Shop Scheme 8. Specialized Finance Schemes A. Help Tourism (For Kashmir valley only) B.All Purpose AgriTerm Loan C.Fruit Advances Scheme (Apple) D.Zafran Finance 16
  • 17. E.Roshni Financing Scheme F.Craft Development Finance G. Dastakar Finance H.Giri Finance Scheme I.Khatamband Craftsmen Finance J.Commercial Premises Finance K.Laptop/PC Finance 9. CREDIT CARDS A.Global Access Card B.Empowerment Credit Cards 10. Types of Cards A.Blue Empowerment Card B.Silver Empowerment Card C.Gold Empowerment Card 11. INSURANCE The Bank diversified its operations when it ventured into the insurance business, both life and non-life segments. A. Life Insurance Segment PNB MetLife India Insurance B.Non Life Insurance Segment Bajaj Allianz General Insurance Co. Ltd. 17
  • 18. REGISTERED OFFICE M A Road Srinagar 190 001 Jammu & Kashmir CORPORATE HEADQUARTERS M A Road Srinagar 190 001 Jammu & Kashmir www.jkbank.net MISSION OF THE BANK 18 The mission of J&K bank is two-fold: To provide the people of J&K international qualit y financial service and solutions and to be a super-specialist bank in the rest of the country. The two together will make us the most profitable Bank in the country. Since J&K bank is going to complete 75 years of its existence in 2013. Therefore, to commemorate the platinum jubilee of its existence, it has announced some ambitious plans of expansion as well as future Business Plans achievements. VISION OF THE BANK 19 1. To catalyze economic transportation and catalyze on growth. 2. To engender and catalyze economic transportation of Jammu and Kashmir and catalyze from the growth induced financial prosperity thus engineered. 3. To make Jammu and Kashmir most prosperous state in the country. 18 19 Available at www.jkbank.net url http://www.jkbank.net/history.php Available at www.jkbank.net url http://www.jkbank.net/history.php 18
  • 19. HIGHLIGHTS20 1. The fastest growing bank with 691 branches across the country. 2. Over 98% of the business computerized 3. Internet banking, SMS are provided by bank to their customers 4. Mobile banking to be launched. 5. Anywhere banking, telebanking and swift banking provided. 6. ATMs connected globally to all master networked ATMs. 7. Mobile ATM services available first of its kind in northern India. 8. JK Bank global access debit card cirrus and maestro enabled. 9. Credit card 20 Available at www.docstoc.com url http://www.docstoc.com/docs/119362503/Management-andperformance-of-JandK-Bank Viewed on 16/06/2013 19
  • 20. SWOT ANALYSIS OF J&K BANK The term SWOT is the acronym made up of four words viz, Strengths, Weaknesses, Opportunities and Threats. The first two variables are internal to an organization whereas the last two are external. SRENGTHS 1. Good reputation, excellent growth and customer loyalt y and trust. 2. A listed company on BSE and NSE with four decades of uninterrupted profitabilit y and dividend payments. 3. Wide network of branches across the state and country 4. World class banking services like Telebanking and excellent ATM network. 5. Innovative in products and services supported in latest technology. 6. Best practices in corporate governance. 7. The bank has also branches in far areas of the J &K state. 8. The bank plays a proactive role in the development of J&K econom y. WEAKNESS 1. Lesser promotions and advertisement of bank and its products within and outside state. 2. Bank doesn’t have any branch outside India to enter global market. 3. The credit card facilities are not available on some online shopping stores. OPPORTUNITIES 1. The bank can have tie ups with national and international financial institutions to offer new and upgraded services and products. 2. The bank enjoys very well customer loyalty. It can diversify its business so as not to lose the customers to the competing rivals. 20
  • 21. 3. The historical activities of the state such as carpet industry, dastakar finance, Khatamband schemes and many other activities of historical importance are not still fully covered by J&K Bank. 4. The bank can introduce sale of gold coins to make more profits. THREATS 1. High level of competition from the other national banks particularl y within and outside J &K state. 2. Policies regarding interest rate have to be flexible to compete with other banks in this stiff competition. 3. Technological changes in the banking sector on changing rapidl y. The need of the hour is that the bank should have innovation in the products and services and keep itself updated with latest technologies. 4. Customer friendly services and products should be given priorit y as other banks are posing stiff competition by offering new customers tuned products and services to attract customers of other banks. 5. Labor problems because of the disturbances in the state which results in strikes and tense conditions. 21
  • 22. INTRODUCTION TO TOPIC Customer satisfaction Customer satisfaction , a term frequentl y used in marketing, is a measure of how products and services supplied by a company meet or surpass customer expectation. Customer satisfaction is defined as "the number of customers, or percentage of total customers, whose reported experience with a firm, its products, or its services (ratings) exceeds specified satisfaction goals. In a survey of nearly 200 senior marketing managers, 71 percent responded that they found a customer satisfaction metric very useful in managing and monitoring their businesses. It is seen as a key performance indicator within business and is often part of a Balanced Scorecard. In a competitive market place where businesses compete for customers, customer satisfaction is seen as a key differentiator and increasingl y has become a key element of business strategy. "Within organizations, customer satisfaction ratings can have powerful effects. They focus employees on the importance of fulfilling customers ‘expectations. Furthermore, when these ratings dip, they warn of problems that can affect sales and profitabilit y. These metrics quantify an important dynamic. When a brand has loyal customers, it gains positive word-of-mouth marketing, which is both free and highl y effective. Therefore, it is essential for businesses to effectivel y manage customer satisfaction. To be able do this, firms need reliable and representative measures of satisfaction. "In researching satisfaction, firms generall y ask customers whether their product or service has met or exceeded expectations. Thus, expectations are a key factor behind satisfaction. When customers have high expectations and the realit y falls short, they will be disappointed and will likel y rate their experience as less than satisfying. For this reason, a luxury resort, for example, might receive a lower satisfaction rating than a budget motel—even though its facilities and service would be deemed superior in 'absolute' terms. 22
  • 23. The importance of customer satisfaction diminishes when a firm has increased bargaining power . Customer Satisfaction Process - Five Steps:1. Understanding Customer Expectations a. How customer’s “wants and needs”, customer’s standards and expectations, are incorporated into our promises to customers to not only make a sale, but achieve high Customer Satisfaction (repetitive business)? B. We must know what our customers expect from us. We must work with our customers to precisely learn their expectations C. Customer Expectations differ by region by country 2. Promises to Customers A.Set promises that can be kept B.Aim to exceed expectations rather than to meet them C.Delight customers by surprising them (Surprise is something not promised, yet delivered) 3. Execution A. Products and Services are provided to customers B.Customers had certain expectations before products/services were delivered C.Depending if these expectations were met, not met, or exceeded customer experiences certain level of “Customer Satisfaction” 23
  • 24. D.Occasionally there are problems with products/services provided E.A problem can be fixed during the initial call or a visit (first contact resolution), or a ticket is opened F.Tickets is worked on. Customer problems are eventually solved G.Depending on how the Problem Resolution is handled customer experiences certain level of “Customer Satisfaction” H.How ongoing work towards better Customer Satisfaction is communicated to organization (development, sales, etc)? 4. Ongoing Dialog with a Customer A. Executive meetings B.User Group meetings C.Other meetings, How feedback received from a customer (“current” Customer Satisfaction) is communicated to market stapilisation scheme (MSS). 5. Customer Satisfaction Surveys and Metrics A. Customer Satisfaction Surveys B.Event Driven Surveys C.Internal Indicators of Customer Satisfaction 24
  • 25. D.Tickets Resolved Within Objectives E.Tickets Overdue F.Resolve Time G.Response Time H.How Survey results are communicated to organization? I.Corrective actions. 25
  • 26. Literature review The review of the literature is related to customer satisfaction towards banks. Following are the reviews of different authors and researchers M.Malhotra and Arora. (1999) have conducted a research on “customer satisfaction of public and private sector banks”, and found that the customer satisfaction in the public banks and the private, with the purpose of helping banking managements to formulate marketing strategies to attract customers towards them. The exploratory study was done by collecting data from the clients of Amritsar, Ludhiana, and Chandigarh. Twenty attributes were taken into consideration for measuring the level of satisfaction/dissatisfaction. The study found that there are six factors, in order of their importance are routine operation factor, price factor, situation factor, environmental factor, technology factor, interactive factor .similarly for customers of private sector , the factors found to be important are staff factor, routine operation factor, service factor, environmental factors, technology factor, interactive factor and promotional factor. Moreover factor wise average scores of these factors reveals that there is significant difference between the satisfaction level of the customers of public and the private sector banks. The latter are found to be more satisfied. few strategies suggested by the authors to improve service quality are proper training of the staff, conducting market surveys periodically, personalizing the service ,avoiding long queues, having well lit, ventilated and clean surroundings. M.Mohamed Siddik & DR Selvachandra (2011), have conducted a research on “customer satisfaction towards banking services of icici bank”, and found that that majority of the respondents preferred their branches because of quality of service. Convenience and popularity of branch were given subsequent preference. there has been quite positive opinion registered with regard to the common problem encountered by the customers in the banks, relating to that is delay in service in the branches, customers were dissatisfied with the services rendered by the staffs, and dissatisfied with the delay in loan sanctions, at the outset of the proportion of the problems are relatively meager. Therefore they 26
  • 27. suggested that banks should provide sufficient training programmes to mitigate the above probes. Mishra j.k and jain M(2006-2007) have conducted a research on “customer satisfaction: a study of nationalized and private banks”‘ and analyzes that satisfaction of the customers is an invaluable asset for the modern organizations, providing unmatched competitive edge, it helps in building long term relationship as well as brand equity. the best approach to customer retention is to deliver high level of customer satisfaction that result in strong customer loyalty. Jyoti Agarwal (2012) have conducted a research on “customer satisfaction in Indian banking services “and found that the banking sector in India is undergoing major changes due to competition and the advent of technology. The customer is looking for better quality services which enhance his/her satisfaction. This study derives its basis from various research findings and is also in line with empirical findings with respect to customer satisfaction by other researchers. To sum up, the results of the study leads that The customer satisfaction in terms of service quality is a relational marketing paradigm. The relationships are mostly viewed from the perspective of the firm providing services. For service firm in our case the banks, buildings strong relationship is important for improving customer satisfaction through service quality. Customer service must watch with marketing efforts, otherwise a customer would remain a disatisfied soul and all marketing efforts will go down the drain. Public sector banks like SBI fall much below the perceptions of their customers on all dimensions of service quality. Private Banks such as icici banks are exceeding the perceptions of their customers on all dimensions of service quality Dr Naveen Kumar and dr. v.k gangal (2011) have conducted a research on “customer satisfaction in new generation banks “and found that the majority of India’s banks are not very diversified in terms of the products and services they offer. One strategic focus that banks can implement to remain competitive would be to retain as many customers as 27
  • 28. possible. And customer retention is possible through customer satisfaction only. thus; customer ‘satisfaction is the key of success in today’s competitive era. Anber Abraheem Shlash and Shireen Yaseen (2011) have conducted a research on “customer satisfaction in commercial banks working in Jordon” and found out that this research was to examine the level of Customer satisfaction of commercial bank working in Jordan. Customer satisfaction was measured by a nine item adapted from Walfried et al. (2000), 260 questionnaires were distributed randomly to customers of commercial banks branches located (thirteen commercial banks in Jordan ) in IRBID (Acity of Jordan ). Multiple regression analysis was employed to test the customer satisfaction. The results of this study indicated that service quality is an important antecedent of customer satisfaction. It is apparent from the present study that managers and decision makers in Jordanian commercial banks to seek and improve the elements of service quality that make the most significant contributions on customer satisfaction. Deepti Kanojia, D.R. Yadav (2012) have conducted a research on “customer satisfaction in commercial banks”, and found out that The Indian Banking Industry has undergone radical changes due to liberalization and globalization measures undertaken since 1991. Today, Indian Banking Industry is one of the largest industry in the world. There has been a great surge in efficient customer services. A highly satisfied and delighted customer is a very vital and non-financial asset for the banks in the emerging IT era. The curtsey, accuracy and speed are like a crown factors for a bank. Based on the responses of 100 customers of Punjab National Bank operating in the Meerut district of Uttar Pradesh has been taken into consideration. The survey was conducted in Meerut district. Puja khatri and yukti Ahuja (2008) have conducted a research on “customer satisfaction in public sector and private sector banks of India”, and found out that the Indian banking sector has witnessed heightened competition with so many banks coming up with all their potential and using their global strength to their advantage in order to establish themselves in the market. Private bank seem to have satisfied its customers with good services and they have been successful in retaining its customers by providing better facilities than public sector banks, but 28
  • 29. still private banks need to go long way to become customer’s first preference. Private banks need to concentrate more on their credit facilities and insurance service since customers do not have a very good opinion about these facilities being offered by private banks. While as public banks need to improve their service quality to stay in the race. R.k uppal (2009) have conducted a research on “customer service and customer satisfaction in Indian commercial banks” and found out that in the emerging competitive environment and IT era with little or no distinction in the product offering. It is speed of rendering service that sets apart one bank from another. Prompt service is equated with quality service. Time is a major factor which affects the quality and reputation of the banks’banks are providing quick service and that is why they are becoming more popular.Hence,it is vey essential that all bank groups should put in place the right kind of systems to further cut down on service time and render instantaneous service to the customers. Only such banks will satisfy the customers ‘expectations and tend to service in the rat race for market shares in the days to come. Vimi jham and kaleem mohd khan,(2008) have conducted a research on “customer satisfaction in the Indian banking sector” and found that customer satisfaction variables which lead to relationship building, and developing a conceptual framework of relationship marketing practices in Indian banks by capturing the perspectives of customers with respect to their satisfaction with various services. It also sought to identify whether demographics have a role to play in customer satisfaction. The three relation dimensions, namely traditional services, multi channel banking and internal marketing, which lead to customer satisfaction, were identified through factor analysis. A repeated measure of annova was run on the relationship dimensions to assess significant difference in the level of satisfaction of the customer. A perceptual map was created using the factor scores of each of the five banks which helped identify how each bank was positioned in the customer’s minds. Reporting on the different satisfaction levels of the customers, the findings suggest that while private banks have been able to attract the younger customers with higher educational levels, who are comfortable with multi 29
  • 30. channel banking, the customers of the national bank are older and more satisfied with the traditional facilities. Ernst and young survey(2011) have conducted a research on “customer satisfaction towards retail banking” and found that more than 20,500 global retail banking customers including 1,000 respondents from india,was surveyed. The survey aimed to identify the driving factor of customer satisfaction and relationship with their banks. Majority of the retail customers of Indian of Indian banking sector are satisfied with the banking system, according to the survey. The positive attitude showed by the banks in handling the global financial melt-down of 2008, has increased the trust of the people in the banking system of the country. As per the survey, 75% of the retail banking customers in India said that their trust in the banking industry grew in 2010.”Indian has the highest level of trust and satisfaction in their banking industry. 30
  • 31. Research methodology In management research, research methodology is a systematic approach to achieve the research objective. It is a guideline to a researcher for conducting whole research. It is a pre planned rules and regulations which helps in saving time, cost, and researcher labor to conduct the research. It helps the researcher in minimizing the errors in research. Primary Objective of the study 1. To study the satisfaction level of customers towards the services offered by J&K Bank. 2. To study the existing relationship between the J&K bank and its customer. Secondary Objectives of the study 3. To analyze the behavior and perception of customers about the services and facilities provided by the bank. 4. To provide broad guidelines and suggestions to the company for the improvement of company relationship and their satisfaction level. Sources of data collection Two types of data were taken into consideration i.e., primary and secondary data. But major emphasis was given on gathering primary data. The secondary data was used only to supplement the primary data and to make things clear. Secondary Data:Some books, previous project reports and annual report of the bank for some topic like Introduction to the topic and also referred some websites has been consulted. Primary Data:The primary data was collected through questionnaire and analysis was done on the basis of response received from the customers. 31
  • 32. Statistical Tool The tool for obtaining the information was questionnaire. Sampling Convenient sampling has been used for collection of the data. Sample size Because of the various constraints imposed on our project work, especially time and cost, the sample size was limited to 260. Collection procedure The responses were recorded directly onto each questionnaire. Tools of analysis: The data has been analyzed through various statistical tools and techniques. The tools used are tables and column charts. 32
  • 33. Data Analysis and Interpretation ta Q1. How long have you been dealing with bank? Table 3 Dealing with Less than 1-year year 1-5 years 5-10 years bank More than 10 years Frequency 18 63 84 95 How long have you been dealing with bank? 95 18 63 Less than 1 year 1-5 years 05-10 years 84 Fig 1 More than 10 years Respondent dealing with bank Analysis The above chart (Figure 2) shows majority of the respondents are dealing with bank from more ) than 10 years. As it is indicated in the chart that out of 260 respondents about 95 respondents are dealing with bank from more than 10 years while as 84 respondents are dealing with bank from 5-10 years and 63 respondents are dealing with bank from 1 years and 18 respondents are 10 1-5 dealing with bank less than 1 year. This shows that majority of respondents are dealing with bank from more than 10 years. 33
  • 34. Q2. Which services do you avail from J&K bank? Table 4 Services availing Saving bank Current bank Loans from bank account account Frequency 218 69 Fixed deposits 13 18 Which services do you avail from j&k bank? 13 18 Saving bank account 69 Current account 218 Loans Fixed deposits Fig 2 Services availing from bank. Analysis The above chart (Figure 3) shows that majority of respondents having savings bank account. As ) it is indicated in the chart out of 260 respondents 218 having saving bank account while 69 having current account, 13 having loans and 18 having fixed deposits. This shows that majority of respondents having savings bank account. 34
  • 35. Q3. Which add on services do you avail from the bank? Table 5 Add on services Debit car card Sms-alert E-banking banking Frequency 232 50 55 Which add on services do you avail from the bank? 55 50 232 Debit card Sms alert E-Banking Fig 3 Add on services availing from bank Analysis The above chart (Figure 4) shows that majority of respondents availing debit card services. As it ) is indicated in the chart out of 260 respondents 232 are availing debit card services, 55 are availing e-banking services while 50 are availing sms alert services. This shows that majority of banking respondents availing debit card services from the bank. 35
  • 36. Q4. Are you satisfied with the services provided by the b bank? Table 6 Customer Satisfied Yes No To some extent 224 05 31 with the services Frequency Are you satisfied with the services provided by the bank? 5 31 Yes No 224 To some extent Fig 4 Customers satisfied with the services Analysis The above chart (Figure 5) shows that majority of respondents are satisfied with the 5) services provided by the bank. As it is indicated in the chart out of 260 respondents 224 are satisfied, while 31 are satisfied to some extent and 5 respondents are not satisfied with the services provided by the bank. This shows that majority of respondents are satisfied with the services of the bank. 36
  • 37. Q5. You are availing the services of J&K bank because of its? Table 7 Availing the services Better service quality Less service charges of J&K bank because Frequency Strong branch network 130 44 86 You are availing the services of j&k bank because of its? 0 86 130 Better service quality Less service charges Strong branch network 44 Fig 5 customers availing services of J&K bank because.. Analysis The above chart (Figure 6) shows that majority of respondents availing services of J&K bank ) due to better service quality. As it is indicated in the chart out of 260 respondents 130 are availing the services due to better service quality, 86 availing services due to strong branch he network, while as 44 are availing services because of less service charges. This shows that majority of respondents are availing the services of the bank du to its better service quality. due 37
  • 38. Q6.Being a customer of J&K bank do you avail the services from other banks as well? Table 8 Customers availing Yes No Intending to avail 178 10 services from other banks Frequency 72 Being a customer of J&K bank do you avail the services from other banks as well? 10 72 YES NO 178 Intending to avail Fig 6 Customer availing services from other banks. Analysis The above chart (Figure 6) shows that majority of respondents are not availing the services from other banks. As it is indicated in the chart out of 260 respondents 178 are not availing the services from other banks, 72 are availing the services from other banks while as 10 respondents om are intending to avail the services of other banks in future. This shows that majority of respondents are not availing the services of other banks. 38
  • 39. Q7. Comparing the services of other banks the services of J&K bank are? vices Table 9 Comparing the Excellent Good Average 124 38 services of J&K bank with other banks Frequency 98 comparing the services of other banks the services of J&K bank are? 0 38 98 EXCELLENT GOOD 124 AVERAGE Fig 7 Comparing the services of J&K bank with others. Analysis The above chart (Figure 8) shows that majority of respondents thinks that the services of J&K ) bank is good as compared to other banks. As it is indicated in the chart out of 260 respondents 124 thinks that services of J&K bank is good from other banks, 98 thinks that services of J&K bank is excellent while as 38 thinks that J&K bank provide average services from other banks. This shows that majority of respondents thinks that J&K bank provides good services to its customers as compared to other banks. 39
  • 40. Q8. DO you think the products of J&K bank cater to all your banking needs? bank Table 10 The products of J&K Yes No To some extent 0 55 bank cater all banking needs Frequency 205 DO you think the products of j&k bank cater to all your banking needs? 55 0 YES NO 205 TO SOME EXTENT Fig 8 J&K bank products cater all banking needs to its customers. Analysis The above chart (Figure 9) shows that majority of respondents thinks that J&K bank products ) cater their banking needs. As it is indicated in the chart out of 260 respondents 205 thinks that J&K bank caters all their banking needs, 55 thinks that the products of J&K bank cater their needs to some extent. This shows that majority of respondents thinks that J&K bank products ome cater all their banking needs. 40
  • 41. Q9. Are the employees of J&K bank cooperative and helpful in giving information about services of J&K bank? Tabl 11 Employees of J&K Yes No To some extent 11 46 bank are cooperative Frequency 203 Are the employees of J&K bank cooperative and helpful in giving information about services of J&K bank? 11 46 YES NO 203 TO SOME EXTENT Fig 9 J&K bank employees are cooperative towards its customers. Analysis:The above chart (Figure 10) shows that majority of respondents are satisfied with the employees ) of J&K bank. As it is indicated in the chart out of 260 respondents 203 are satisfied with the employees of J&K bank in giving information about the services and products of the bank, 46 are satisfied to some extent and 11 respondents are not satisfied with the employees of J&K bank. This shows that majority of respondents are satisfied with the employees of J&K bank. 41
  • 42. Q10. Are you satisfied with the complaint redressal mechanism of J&K bank? Table 12 Satisfied with Yes complaint No To some extent 10 73 redressal mechanism Frequency 177 Are you satisfied with the complaint redressal mechanism of J&K bank? 73 YES 177 10 NO TO SOME EXTENT Fig 10 Satisfied with the complaint redressal mechanism of J&K bank Analysis:The above chart (Figure 11) shows that majority of respondents are satisfied with the complaint ) redressal mechanism of J&K bank. As it is indicated in the chart out of 260 respondents 177 are satisfied with the complaint redressal mechanism, 73 are satisfied to some extent and 10 respondents are not satisfied with the complaint readressal mechanism of J&K bank. This shows that majority of respondents are satisfied with the complaint redressal mechanism of J&K bank. 42
  • 43. Q11. How do you rate the security of your transaction through J&K bank? Table 13 Security transactions of Excellent Good Average 150 22 through J&K bank Frequency 88 How do you rate the security of your transaction through J&K bank? 0 22 88 Excellent Good 150 Average Fig 11 Security of transactions through J&K bank Analysis The above chart (Figure 11) shows that majority of respondents are satisfied with the security of transactions through J&K bank. As it is indicated in the chart out of 260 respondents 150 thinks &K that security of transactions through J&K bank is good, 88 respondents thinks that it is excellent while as 22 respondents thinks that security of transactions through J&K bank is average. This shows that majority of the customers thinks that J&K bank is having good secur system of security transactions for its customers. 43
  • 44. Q12. Are you satisfied with the time taken by J&K bank in each successful transaction? Table 14 Satisfied with time Yes taken in No To some extent each 9 58 successful transaction Frequency 193 Are you satisfied with the time taken by jandk bank in each successful transaction? 58 9 Yes 193 No To some extent Fig 12 Customers satisfied with time taken in each successful transaction. Analysis The above chart (Figure 13) shows that majority of respondents are satisfied with the time taken ) in each successful transaction. As it is indicated in the chart out of 260 respon respondents 193 are satisfied, 58 are satisfied to some extent and 9 respondents are not satisfied with the time taken by bank in each successful transaction. This shows that majority of the customers are satisfied with the time taken by bank in each successful transaction. 44
  • 45. Q13. Taking into consideration your recent experience with jandk bank the quality of services you received was? Table 15 Recent Very good Satisfactory Average Poor 105 137 16 2 experience with J&K bank Frequency Taking into consideration your recent experience with jandk bank the quality of services you received was? 16 2 105 Very good Satisfactory 137 Average Poor Fig 13 Customers recent experience with J&K bank. Analysis:The above chart (Figure 14) shows that majority of respondents thinks that their recent ) experience with the bank is satisfactory. As it is indicated in the chart out of 260 respondents 137 having satisfactory recent experience with the bank, 105 having very good, 16 having average factory and 2 respondents having poor recent experience with the bank. This shows that majority of the customers are satisfied with the recent experience with the J&K bank. 45
  • 46. Q14. Would you like to continue your relation with jandk bank? Table 16 Continued relation with J&K Yes No bank Frequency 260 0 Would you like to continue your relation with jandk bank? 0 Yes No 260 Fig 14 Continue relation with the J&K bank bank. Analysis:The above chart (Figure 15) shows that majority of respondents are continuing their relation with ) J&K bank. As it is indicated in the chart out of 260 respondents all the customers are continuing their relation with J&K bank. 46
  • 47. Q15. Will you recommend your bank to your friends and relatives? Table 17 Recommending J&K Definitely Probably May or may not be 76 46 bank to friends and relatives Frequency 138 Will you recommend your bank to your friends and relatives? 0 0 46 138 Definitely Probably 76 May or may not be Fig 15 Customers recommending J&K to their friends and relatives. Analysis The above chart (Figure 16) shows that majority of respondents recommend J&K bank to their ) friends and relatives. As it is indicated in the chart out of 260 respondents 138 will definitely recommend J&K bank to their friends and relatives, 76 will probably recommend and 46 respondents may or may not recommend J&K bank to their friends and relatives. This s shows that majority of the customers will recommend J&K bank to their friends and relatives. 47
  • 48. Findings, Suggestions and Recommendations FINDINGS 1. Out of 260 respondents, 95 respondents are dealing with bank from more than 10 years. 2. Out of 260 respondents, 218 respondents having savings bank account. 3. Out of 260 respondents, 232 respondents are availing debit card services from the bank. 4. Out of 260 respondents, 224 respondents are satisfied with the services provided by bank. 5. Out of 260 respondents, 130 respondents are availing the services of J&K bank because of its better quality services. 6. Out of 260 respondents, 178 respondents are not availing the services of other banks. 7. Out of 260 respondents, 124 respondents thinks that the services of J&K bank is good than other banks. 8. Out of 260 respondents, 205 respondents think that J&K bank products cater all their banking needs. 9. Out of 260 respondents, 203 respondents are satisfied with the cooperation of J&K bank employees in giving information about the services and products of the bank. 10. Out of 260 respondents, 177 respondents are satisfied with the complaint redressal mechanism of J&K bank. 11. Out of 260 respondents, 193 respondents are satisfied with the time taken by bank in each successful transaction. 12. Out of 260 respondents, 137 respondents feel satisfactory with their recent experience with the bank. 13. Out of 260 respondents, all the respondents like to continue their relation with the bank. 48
  • 49. 14. Out of 260 respondents, 130 respondents will definitely recommend J&K bank to their friends and relatives. Suggestions and Recommendations In the light of the findings of the study the following are made for improvement of the customer service in J&K Bank: 1. J&K bank should improve their services which would lead better results and client’s satisfaction. 2. The bank should open more branches and ATMs so that the customers do not face an y problem. 3. The bank should also open more branches as well as ATMs outside the state so that the customer’s doesn’t feel any inconvenience. 4. The bank should decrease the quarterly charges on savings account. 5. Bank should make sure that each and every customer using online banking facilities should be notified with e-alerts on each and every transaction. 6. Internet banking should try to reduce the complexit y of online banking features. 7. Keeping in view the progress and growth of J&K bank its management should reduce interest rates on house & education loans to make a bank customer attractive. 8. The bank should give more attention towards the societ y under CSR. 9. There should be proper information about the product/ services 10. More efforts should be made by the employees to give maximum attention to their customers. The approach of the employees should be such that sense of belongingness should be created among the customers. 49
  • 50. BIBLOGRAPHY 1. Books:A. Kotler, Phillip (2003), Marketing Management, 9th Ed. New Jersey: Pearson Education. B. Etzel, M. J., Walker, B.J & Stanton, W.J (2001), Marketing: 12thEd. New York: The McGraw-Hill Companies, Inc., 2001. 2. Websites:http://www.jkbank.net http://www.greaterkashmir.com http://www.risingkashmir.com http://www.economictimes.com References 1.M.Malhotra and arora (1999),Customer satisfaction of public and private sector banks, abhigyan, vol,17,no.3,pp.19-30. 2. Mr. Siddik & dr.selvachandra (2011) A study on customer satisfaction towards banking services of icici bank in Chennai city, IJEMR-Sept. 2011-vol. 1 issue 4. 3. Mishra j.k and Jain M (2006-2007) Constituent dimensions of customer satisfaction.Banks’.prajnan.35 (4), 390-398. 4. Jyoti Agarwal (2012)”customer satisfaction in Indian banking services” (A study in Aligarh district) international journal of computing and business research (IJCBR) ISSN (online):22296166 volume 3 issue 1 January 2012, pp.1-14. 5. Mr. Kumar and Mr.gangal (2011), Customer satisfaction in new generation banks out international referred research journalVol-11, issue-4, oct.2011, pp.177-186. 50
  • 51. 6. Shlash (Astt. Professor, Marketing Department Petra University, Jordan) Shireen Yaseen Mohammad Alhamadani (Assistant Professor, Petra uni.)Middle Eastern Finance and Economics ISSN: 1450-2889 Issue 14 (2011) © Euro Journals Publishing, Inc. 2011. 7. Kanojia, D.R. Yadav (2012)International Journal of Trade and Commerce-IIARTC JanuaryJune 2012, Volume 1, No. 1, pp. 90-99 ISSN-2277-5811 © SGSR. www.sgsrjournals.com. 8. Puja khatri and yukti Ahuja (2008) International journal of engineering and management sciences (I.J.E.M.S) Vol 1(1):, pp.42-51. 9. R.K Uppal (2009) “customer service and customer satisfaction in Indian commercial banks” Asia pacific journal of social sciences, vol.1, no.1, jan-june 2009.pp.127-141. 10. Vimi jham and kaleem mohd khan,(2008),“Customer satisfaction in the Indian banking sector “A study,IIMB management review, volume 20,number 1. 11. Ernst and young survey (2011) Vol (not available) ANNEXURE QUESTIONNAIRE FOR CUSTOMERS 51
  • 52. The Jammu & Kashmir Bank Ltd A study on Customer Satisfaction Survey of Jammu and Kashmir Bank. I am collecting this data for my dissertation Purpose only. The information that I will get from this data will not be provided to any other organization and will be kept confidential. This is for my research work only. Q1. Personal detail Name: Gender: M F Occupation: Address: Q 2. How long have you been dealing with bank. A. Less than 1 year B. 1-5 years C. 5-10 years D. More than 10 years. Q3. Which services do you avail from J&K bank. A. Saving bank account B. Current account 52
  • 53. C. Loans D. Fixed deposits Q4. Which add on services do you avail from the bank. A. Debit card B. SMS alerts C. E-banking Q5. Are you satisfied with the services provided by the bank. A. Yes B. No C. To some extend Q6. You are availing the services of J&K bank because of its. A. Better service quality B. Less service charges C. Strong branch network Q7.(a) Being a customer of J&K bank do you avail the services from other banks as well. A. Yes B. No C. Intending to avail (b) Comparing the services of other banks, the services of J&K bank are 53
  • 54. A. Excellent B. Good C. Average Q8. Do you think the products of J&K bank cater to all your banking needs A. Yes B. No C. To some extent Q9. Are the employees of J&K bank cooperative & helpful in giving information about services of J&K bank. A. Yes B. No C. To some extent Q10. Are you satisfied with the complaint redresssal mechanismof J&K bank. A. Yes B. No C. To some extent Q11. How do you rate the security of your transactions through J&K bank. A. Excellent B. Good C. Average 54
  • 55. Q12. Are you satisfied with the time taken by J&K bank in each successful transaction. A. Yes B. No C. To some extent Q13. Taking into consideration your recent experience with J&K bank the quality of services you received was. A. Very good B. Satisfactory C. Average Q14. Would you like to continue your relation with J&K bank. A. Yes B. No Q15. Will you recommend your bank to your friends & relatives. A. Definitely B. Probably C. May or may not Q16. Any suggestions or recommendations: 55
  • 56. Date: Signature Organizational Hierarchy and Board of Directors CHAIRMAN AND CEO OF J&K BANK 56
  • 57. Mr.Mushtaq Ahmad. DIRECTORS TABLE 18. Mr.Hari Narayan lyer Mr. M.L.Shahdad Mr. Vikrant Kuthaila Prof. Nissar Ali Mr. A.M.Matto Mr. R.K.Gupta Mr. Nihal. C.Garware EXECUTIVE PRESIDENTS. TABLE 19. Mushtaq Ahmad Parvez Ahmed Om Prakash Sharma Abdul Hamid Banday PRESIDENTS. TABLE 20 Vagish Chander Shafat Ahmad Banday Meera Jamwal R.K. Shah Surjeet Singh Abdul Rauf Bhat 57
  • 58. Abdul Rashid Surinder Krishen Bhat Mohammad Syed Wani Nayeem-Ullah VICE PRESIDENTS: Table 21 Suman Durswal Sohan Singh Billawria Nishi Baru Mohammad Ibrahim Wani Abdul Rashid Sheigan Ghulam Mohammad Sadiq Viqar-ul-Mulk Nazki Arvind Gupta Naqi Hussain Ashok Kumar Pandita Mohammad Sultan Kaboo Rakesh Gandotra Arun Gandotra Ghulam Nabi Teli Sunil Gupta Rajni Saraf Gurcharan Singh Mukhtar Ahmad Mohammad Maqbool Lone Aftab Ahmad Qazi Chetan Paljor Mohammad Younis Patoo Ashok Kumar Koul Mushtaq Ahmad Mir Nazir Ahmad Bhat Mohammad Ashraf Zargar Ashraf Ali Shafat Hussain 58