1. G.L. Bajaj Institute of Management & Research
Approved by A.I.C.T.E., Ministry of HRD, Govt. of India
Plot No. 2, Knowledge Park-III, Greater Noida
PGDM BATCH-2020-22
MINOR PROJECT REPORT – III
ON
Submitted in Partial Fulfilment for the Award of the
DEGREE OF POST GRADUATE DIPLOMA IN MANAGEMENT
2020-22
GUIDE BY: SUBMITTED BY:
Dr. Anand Rai DIVESH CHAUHAN
PGDM20039
GM20052
2. G.L. Bajaj Institute of Management & Research
Approved by A.I.C.T.E., Ministry of HRD, Govt. of India
Plot No. 2, Knowledge Park-III, Greater Noida
PGDM BATCH-2020-22
FACULTY GUIDE CERTIFICATE
This is to certify that the work reported in the Minor Project Report on ''KOTAK MANHINDRA
BANK'', submitted by DIVESH CHAUHAN at G L Bajaj Institute of Management &Research,
Greater Noida, India, is a bonafide record of his work carried out under my supervision. This work
has not been submitted elsewhere for any other degree or diploma.
(Signature of Faculty Guide)
Name: Dr. Anand Rai
Date:
3. G.L. Bajaj Institute of Management & Research
Approved by A.I.C.T.E., Ministry of HRD, Govt. of India
Plot No. 2, Knowledge Park-III, Greater Noida
PGDM BATCH-2020-22
ACKNOWLEDGEMENT
I would like to thank the following people, without whom I would not have been able to complete this
Minor Project Report – III.
My heartfelt thanks go to our Director Dr. Ajay Kumar for providing an opportunity work on the
Minor project right from the first trimester of the program.
I convey my sincere thanks to my Faculty Guide Dr. Anand Rai for providing me the constant support
and guidance to carry out my project effectively and efficiently.
I would also like to convey my gratitude to all faculty members and staff for their support and guidance.
DIVESH CHAUHAN
Roll Number: GM20052
Trimester-III
PGDM Batch 2020-22
GL Bajaj Institute of Management & Research
4. Table ofContents
ACKNOWLEDGEMENT ......................................................................................................................3
CHAPTER 1: COMPANY PROFILE AND EXECUTIVE SUMMARY ....................................................5
CHAPTER 2: PROBLEM STATEMENT AND LITERATUR REVIEW.................................................12
CHAPTER 3: RESEARCH METHODS ..............................................................................................16
CHAPTER 4: DATA ANALYSIS AND FINDINGS...............................................................................19
CHAPTER 5: RECOMMENDATIONS................................................................................................30
CHAPTER 6: REFERNCES...............................................................................................................33
6. COMPANY PROFILE:
The Indian banking system consists of public sector banks, private sector
In 1985 Uday Kotak founded an Indian financial services conglomerate. In February 2003, the Reserve
Bank of India (RBI) issued a banking licence to Kotak Mahindra Finance Ltd (KMFL) the group's
flagship company This approval created banking history since Kotak Mahindra Finance Ltd. is the first
non–banking finance company in India to convert itself in to a bank as Kotak Mahindra Bank Ltd. It is
Indian private sector bank headquartered in Mumbai, Maharashtra, India.
In a study by Brand Finance Banking 500 published in February 2014 by Banker magazine (from The
Financial Times stable), KMBL was ranked 245th among the world's top 500 banks with brand
valuation of around half a billion dollars ($481 million) and brand rating of AA+. As of April 2019, it
is the second largest Indian private sector bank by market capitalization, with 1600 branches & 2519
ATMs
PRODUCT DETAILS
Kotak Mahindra Bank is one of the prominent subsidiaries of Kotak Mahindra group. The activities of
the company being parallel to its objective are very wide and cover all the components of a Bank. The
Basic area of Operations is the Banking business, other products are meant for the regular revenue
generation. Being a Banking house, the company is in regular touch with Banking Accounts,
Investment Services, Convenience Banking and Other Services. They offer complete solutions that
address all your financial requirements, whether you're an individual or a firm. From everyday banking
to long term investments — their offering covers it all. This wide range of products is delivered
to you with a genuine understanding of your specific need and warm, personalised service. Kotak
Mahindra Bank, it’s not about selling you many different products — it's about working out a holistic,
pragmatic solution that addresses your financial needs. Through their varied products, they commit
themselves to becoming “banker” to the customer rather than being “asset financier” to our customers.
Bank assurance
They offer a range of carefully selected insurance policies across the entire spectrum of life
insurance products Relationship managers will analyze your insurance needs and develop the
solution that works best for you.
KOTAK INSURANCE
Kotak Insurance has a wide array of insurance plans that have been designed with the philosophy
that different individuals are bound to have differing insurance needs. The ideal insurance plan is
7. one that addresses the exact insurance needs of the individual that will depend on the age and life
stage of the individual apart from a host of other factors. The various plans offered by KOTAK
INSURANCE are as follows:
• Kotak Smart Advantage Plan
• Kotak Eternal Life Plans
• Kotak Head start Child Plans
• Kotak Safe Investment Plan II
• Kotak Flexi Plan
• Kotak Term Plan
• Kotak Preferred Term Plan
VISION:
• The Global Indian Financial Services Brand
• The Most Trusted Financial Services Company
• Value Creation
BOARD OF DIRECTORS
Name Designation
Mr. Prakash Apte Non-Executive - Independent Director-
Chairperson
Mr. Uday Kotak Executive Director-CEO-MD
Jaimin Bhatt Group Chief Financial Officer
Mr. Dipak Gupta Executive Director
Mr. K V S Manian Executive Director
Mr. Gaurang Shah Executive Director
Mr. C Jayaram Non-Executive - Non Independent Director
Mr. S Mahendra Dev Non-Executive - Independent Director
Ms. Farida Khambata Non-Executive - Independent Director
Mr. Uday Khanna Non-Executive - Independent Director
Mr. Uday Shankar Non-Executive - Independent Director
Mr. Paul Parambi Chief Risk Officer
Ms. Bina Chandarana Joint President & Company Secretary
DRIVERS OF CHANGE
Advantages previously held by large financial institutions have shrunk considerably. The Internet
has levelled the playing field and afforded open access to customers in the global marketplace.
Internet banking is a cost-effective delivery channel for financial institutions. Consumers are
8. embracing the many benefits of Internet banking. Access to one's accounts at any time and from
any location via the World Wide Web is a convenience unknown a short time ago. The primary
drivers of Internet banking are:
• Improve customer access·
• Facilitate the offering of more services·
• Increase customer loyalty·
• Attract new customers
Internet Banking is the most technological advanced means to do Banking. Through this medium
the Account holder can do various types of transactions without having to leave his
Office/Residence. The Account holder has the convenience to do transaction no matter where he
is in the world at any time of the day. Internet is the most cost effective medium of Banking from
the point of view of the Banks; it costs a fraction to the Bank as compared to other mediums like
Branch Banking or ATM. But this medium is not as favoured a medium as it in the west , the
reasons for this is that firstly, this is a relatively new concept in India, secondly , general
perception that this is not safe & thirdly, computers and internet are not widely spread all over
thecountry.
MAIN CONCERNS IN INTERNET BANKING
In a survey conducted by the Online Banking Association, member institutions rated security
as the most important issue of online banking. There is a dual requirement to protect customers'
privacy and protect against fraud.
A multi-layered security architecture comprising firewalls, filtering routers, encryption and
digital certification ensures that account information is protected from unauthorized access:
• Firewalls and filtering routers ensure that only the legitimate Internet users are allowed
to access the system.
• Encryption techniques used by the bank (including the sophisticated public key
encryption) would ensure that privacy of data flowing between the browser and the
Infinity system is protected.
Digital certification procedures provide the assurance that the data you receive is from the Infinity
system.
STRATEGIC ALLIANCES ENTERED BY KOTAK MAHINDRA BANK
NATIONAL ATM ALLIANCES:
The Institute for Development and Research in Banking Technology (IDRBT), a group established
by the Reserve Bank of India (RBI) in1996, has planned to set up a national switch to hook up all
9. of the country's 10,000-odd ATMs. The idea of establishing ATM interconnectivity through a
national switch has been approved by the information chiefs of various Banks. The expected cost of
transactions routed through the switch is to be under 10 rupees (21 cents U.S.) each, due to the high
volumes of transactions -- almost 100,000 per day.
CASH NET:
It is an Alliance between Citibank, Industrial Development Bank of India, Kotak Mahindra Bank and
UTI Bank. This is the country's first independent shared ATM network. IDBI Bank received
permission from the Reserve Bank (RBI) to serve as the network's settlement bank. Cash net will
give access to more than 1,300 ATMs for more than 6million debit cardholders of
the member banks. The alliance would constitute about a third of the total card base and 15 percent of
the ATM base in the country.
Kotak Mahindra Bank and REDIFF.com:
REDIFF.com India and Kotak Mahindra Bank have entered into an alliance to provide online and
offline banking and related services to the Indian consumer. The alliance will enable information on
the entire range of the banks consumer banking products to be made available to the 6.4 million
online customers of Rediff.com. The services offered include detailed information on various
deposits, loans and mortgages, credit cards, mutual funds and insurance products of the bank. Users
will be able to directly interact with the bank and request for products online.
IV. OTHER SERVICES
BANKING HOURS:
Kotak Mahindra Bank Account holders have been able to infer that Branch Banking is the second
most Frequent Point of Interaction with the Bank. The Average Banking Hours is a very important
aspect associated with any Bank. In today’s fast paced life where people who hold Accounts with the
Bank are busy working it is important that they can find a way to visit the Bank without having to
miss out on work. The Average Banking Hours of Kotak Mahindra Bank is from 9am to7pm, the
Bank is open to the public for ten hours. These timings are convenient for especially those Account
holders who are working, these people can visit the Bank after their Office finishes.
Apart from the Average Banking Hours Kotak Mahindra Bank offers to its Account holders 24 Hour
Branch, 365 Days Branch and the facility of Sunday Banking. Kotak Mahindra Bank is the only Bank
10. which offers a 24 Hour Branch in India, this is a big boon for people who cannot take the
time out to visit the Bank during the normal working hours and is also very handy during
emergencies. The 365 Day Branch of Kotak Mahindra Bank is also unique and the only other Bank
offering this service is ABN Amro, this Branch is open regardless of the fact that it is a Sunday or a
public holiday. Sunday Banking is very useful for people who are busy throughout the week and the
only day when they find the time is Sunday. Other Banks offering this service apart from Kotak
Mahindra Bank are ABN Amro and CITIBANK.
Best Compliments Card – the perfect gift: It is a prepaid card from Kotak Mahindra Bank. It lets
your loved ones choose their own gift or shop or enjoy at any place that accepts
Visa cards, be it a shopping mall, a restaurant or a multiplex. So go ahead and give someone the
perfect gift!
• No Kotak Mahindra Bank account required
• Not restricted to a single brand or outlet –
• Accepted at over 3lakhs merchant establishments in India that accept Visa cards Can be used at
your convenience
• No need to spend the entire value in a single purchase
11. EXECUTIVE SUMMARY:
1. INTRODUCTION: Kotak Mahindra Bank Limited is an Indian private sector bank
headquartered in Mumbai, Maharashtra, India. It offers banking products and financial services for
corporate and retail customers in the areas of personal finance, investment banking, life insurance,
and wealth management.
2. Products and Services: The Basic area of Operations is the Banking business, other products are
meant for the regular revenue generation. They offer complete solutions that address all your
financial requirements, whether you're an individual or a firm. Kotak Mahindra Bank, it's not about
selling you many different products — it's about working out a holistic, pragmatic solution that
addresses your financial needs. It offers a wide range of banking and financial services including
investment banking, personal banking, general insurance, life insurance, and wealth management.
3. Share Performance: A flagship company of the well-known financial conglomerate Kotak
Mahindra Group, Kotak Mahindra Bank was the first banking entity in the country created by
conversion of a financial institution in 2003. Over the last 30 days, the KOTAK MAHINDRA
BANK share price is down 9.6%. Over the last one year, KOTAK MAHINDRA BANK share
price has moved down from Rs 1,384.8 to Rs 1,197.4, registering a Loss of Rs 187.5 or around
13.5%
4. Major Competitors Banks are SBI, HDFC, ICICI, AXIS, CITI Bank for Kotak Mahindra Bank.
5. Kotak Mahindra Bank encourages their customers to choose e-statements for their credit cards. This
helps to reduce the wastage of paper, while also allowing them to store and retrieve statements
electronically, at their convenience. As a token of appreciation for every customer who opts foran
e-credit card statement, Bank plants a sapling in partnership with Grow-Trees.com.
6. Kotak Mahindra Group’s results for the financial year demonstrate the strong fundamental
growth in India. However, concerns remain on the global economic scenario’s impact on the
Indian economy.
13. PROBLEM STATEMENT
“Comparative Study of the Product and Marketing Strategies of Kotak Mahindra Bank”
RESEARCH OBJECTIVES
Various Objectives for conducting the research and analysis are listed as under:
1. Access the Market Potential of Kotak Mahindra Bank Saving Account with the help of a survey.
2. Study how new distribution channels such as Internet Banking, ATM facility, Phone Banking have
changed the face of the Banking industry.
3. Study the impact of a customer centric approach being followed by the Bank, and what is its benefit.
4. Compare the services offered by Kotak Mahindra Bank and the customer’s satisfaction level of the
same with that of other Banks in the Private and Government sector, and to access where the Bank
has to improve.
5. Consideration of various promotional and marketing and advertising strategies of Kotak Mahindra
to the satisfaction among its ultimate users and consumers.
Additional Information:
The project is based on the sales strategies for the Banking products with special references to KOTAK
MAHINDRA BANK and the consumer perception about the same.
• First and Foremost, the purpose of KOTAKMAHINDRA BANK is to fulfil the need for investment
under one roof.
• This project shows, the common man has started capital market term like bull and bear
explode new time.
• It gives the detail view of the regulatory framework for the KOTAK MAHINDRA BANK
• The focus the shift to various products of KOTAK MAHINDRA BANK to cater to the needs
such as return explanation, financial position, risk tolerance, etc.
• The next phase look up the investment in growth oriented stock which are available at attractive
relative valuation.
Further to this, project proceeds with the research designed in the light of the core objectives of the
study along with the sub objectives that are given due consideration throughout the research. It also
enlists all the data sources as to by which means the study has gained momentum. The data has been
collected by virtue of questionnaires and websites, respectively. The scope of the study suggested in
favour of the companies striving to emerge as super powers drawn out by the survey. These companies
14. can fine tune their prospective ones and can grab the opportunities of the transforming the weakness of
other into their own strength.
LITERATURE REVIEW:
Tse and Wilton (1988) defined Customer satisfaction is, “the consumer’s response to the evaluation
of the perceived discrepancy between prior expectations and the actual performance of the
product perceived after its consumption.
Jamal, A., & Naser, K. (2002) have looked into the impact of service quality dimensions and customer
expertise on satisfaction in their study. They interviewed sample of 167 respondents as apart of their
study. Their findings indicated that both core and relational dimensions of service quality appeared to
be linked to customer satisfaction. They also found that expertise is negatively related to satisfaction.
The paper discusses implications for Bank managers.
Kumar, N., & Gangal, V. K. (2011) have found in their study that
• The customers feel satisfy with Bank staff and also praised the efforts of Bank staff.
• The Bank is failed to maintain the privacy of transactions which is utmost requirement of Bank.
• Lay out, cleanliness and Security & Safety of the branch are good and satisfactory
• Customers are ready to recommend this Bank to a friends or relatives and remain a customer
of this Bank in future in too.
Over all out of 31 parameters, Bank has failed to satisfy customers at 15 parameters. But unfortunately
these include the most important parameters such as cost of services, privacy of transactions, response
time.
Jain, Rathi and Sharma (2013) stated that there are various technical components of customer
relationship management like customer information, sales, marketing trends and marketing efficiency
in order to improve the relationship between the organisations and customers. It involves the capturing
of customer data from across the organisation and consolidating in a central database. The data is then
analysed and the results are distributed through email, websites, etc. the internet has revolutionised
the way business is done and has taken the enterprise information system within the reach of the
customer.
15. Vikas Choudhary and Suman Tandon(2011) stated that due to cut throat competition, it was required
to have inner strength and control over costs, new techniques of managing various branches,
motivating people, proper consideration for innovation, better system and procedures, fixing adequate
and reasonable norms and creation of team spirit in bank management. It was observed that Indian
banks were considered to have clean, strong and transparent balance sheets in addition to other banks
in terms of quality of assets and capital adequacy. It still remained a challenge for the private and
foreign banks to extend their hands in the rural areas in terms of policies. The Reserve Bank of India is
an autonomous body which was expected to be strong for some time while providing it’s banking
services, especially retail banking, mortgages and investment services, Mergers & Acquisitions,
takeovers, and asset sales.
17. REASEARCH METHODOLOGY
As the title of the project suggests the purpose is to study the access of prudential in area like
Delhi NCR, Haryana, Rajasthan. Research comprises defining and redefining problems,
formulating hypothesis or suggested solutions; collecting, organizing and evaluating data; making
deductions and reaching conclusions; and at last, carefully testing the conclusions to determine
whether they fit the formulating Hypothesis. In short, the search for Knowledge through Objective
and Systematic method of finding solutions to a problem is research.
SOURCES OF DATA
Data is collected from primary as well as secondary source. For primary data customer were
personally intervened and for secondary data annual report, journals, internet and personal
interview.
METHODOLOGY:
The methodology adopted in conducting this survey was quite simple. First
there was collection of data from various sources including personal interview. Then after scanning
and properly analyzing and interpreting the information available on hand, a final report
was prepared.
1. PRIMARY DATA:
Primary data was collected from the sample by a self-administered questionnaire in presence of
the interviewer.
2. SECONDARY DATA:
The chief sources of secondary data were magazines, newspaper, journals etc.
Sampling:
Survey was conducted on 155 respondents. Here, majorly respondents were from Delhi NCR, Haryana,
Rajasthan.
18. RESEARCH DESIGN
Type of Research
Descriptive research
Descriptive research is also called Statistical Research. The main goal of this type of research is
to describe the data and characteristics about what is being studied. The idea behind this type of
research is to study frequencies, averages and other statistical calculations. Although this research
is highly accurate, it does not gather the causes behind a situation. The line Managers revealed
about various strategies involved in performing business activities and gathering data using
various techniques and software applications.
Descriptive research includes Surveys and fact-finding enquiries of different kinds. The main
characteristic of this method is that the researcher has no control over the variables; he can only
report what has happened or what is happening. Simple statistical tools have been used to analyse
and interpret the data collected from the field. The study has used percentile method and the data
are presented in the forms of diagrams. Interpreting the information available on hand, a final
report was prepared.
LIMITATIONS
The study could not be made that comprehensive due to time constraints. Some customers feel
uncomfortable to reveal some personal information relating to income etc. it might have happened
that some more essential information could have been collected.
• Time constraint.
• Biases and non-cooperation of the respondents.
• Financial constraint.
• Geographical selectivity in study limiting to particular regions only.
• People were not interested in giving personal opinion.
20. Data Analysis and Finding:
DURATION WITH BANK:
The study of 50 Kotak Mahindra Bank respondents consisted of a majority of customers who had been
with the Bank for a reasonable amount of time. This is good as these customers have had the opportunity
to properly access the service level of the Bank, and can compare their experiences of Kotak Mahindra
Bank with banks they have previously and are currently dealing with. Out of the total respondents only
3% have been with the Bank for less than 6 months, the rest 97% have had the opportunity to
know about the strengths and weaknesses of theBank.
Another inference that we can draw from this study is that couple of years the Bank has been actively
acquiring new customers as from the survey we can see that about 80% of the customers have opened
their accounts during the past two years. The reason for this could be that during the past two years the
Bank has been able to convince many prospective customers about the superior service it is able to
offer in comparison to competing Banks. Another reason could be that the customer base of the
Bank has increased due to sheer word of mouth of the Banks millions of satisfiedcustomer.
Duration with the
bank
1 to 2 years
Over 2 Years
Less than 6
months 6 months
to 1 year
21. REASON FOR CHOOSING BANK:
If the Bank could get to know of that very compelling factor that convinced the customer to open
the account then the Bank could use this in its favor to attract more customers. From the study
conducted the factor which has come out strongest in this regards is the getting 44% of the
responses, going deeper into this response by asking the respondent what is the factor they include
in this Other Reasons is that most people are not the deciding factor when they open a saving
account, this is done so by their employers. The customer’s salary accounts are created by the
companies in which they work.
MOST FREQUENT POINT OF INTERACTION WITH THE BANK:
The Banks are very interested to know the most popular Point of Interaction with the Bank as if
the Bank is lacking in one of these steps can be taken to make the situation better. From the study
we can see more than half (more than 50%) of the total respondents feel that they interact most
with the Bank with the help of ATM. Hence the importance of ATM cannot be over stated. The
Second most popular point of interaction that arises from the study is the Branch with 32% of
the respondents favouring this option. Kotak Mahindra Bank is unique in an aspect that it follows
the “Any Branch Banking” where in the Account holder can use any of the Bank’s156 Branches
all over the country. An aspect that customers really appreciate is the 24 hour Branches and the
365 Days Branches of Kotak Mahindra Bank.
Reason for choosing the
bank
0%
16%
Recommended by family/friend
34%
Brand Name reputation of the
bank
Branch near office/residence
Other Reasons
44%
22. The 24 Hour Branch of Kotak Mahindra Bank is located at sector 18 Noida. Apart from these
Branches in Mumbai and other cities in India Kotak Mahindra Bank is the only Bank which has
the facility of a 24Hour Branch. As for a 365 Day Branch the only Bank having this facility apart
from Kotak Mahindra is UTI Bank. The third most Frequent Point of Interaction is Phone
Banking with 11.5% of the respondents favoring this medium. Phone Banking is one of the new
age Banking techniques. It is in its infancy in India and people have not taken to it as is the case
in other Developed Countries in the World. In the study it was seen that customers have mixed
feeling when it comes to Phone Banking as sometimes they do not find it as an effective alternate
to traditional forms of Banking. The forth most Frequent Point of Interaction with the Bank is
Internet Banking with 4% of the respondents favoring this medium.
Internet Banking is the most modern means of Banking available to the customers but due to the
general perception that this medium is not safe it is not used by many people. In our study only
60% of the total respondents have at least once used Internet Banking. The two options which
were not favored by any respondents as the most Frequent Point of Interaction are Drop Box
Facility and Door Step Banking.
3
0
2
5
2
0
Visit
Branch
ATM
1
5
Phone
Banking
Drop Box
1
0
Internet
Banking
Door Step
Mod
e
23. OVERALL SATISFACTION LEVEL:
Any service provider would want their customers to have a high Overall Satisfaction level. Kotak
Mahindra Bank has scored very well in this regard. The most important thing is that no respondent
has complained that they are overall dissatisfied with the bank.
This is a very important finding because this shows the effort Kotak Bank puts in providing their
customers a superior service has not gone waste. More than half of the total respondents (52%)
say that they are somewhat satisfied with the overall service of the Bank.
About 30%of the total respondents say that they are Very Satisfied with their Overall
Experience with the Bank.
OVERALL SATISFACTION LEVEL
Hence about 82% of the Respondents are satisfied with their Overall Experience with the Bank. The
study is showing a very good Overall Satisfaction Level by the Account holders.
Satisfaction
Level
3
0
2
5
2
0
Satisfaction
Level
1
0
Very Satisfied Neutra
l
Somewhat Very
Dissatisfied
Dissatisfie
24. SATISFACTION LEVEL WITH BANK STAFF
Banks are institutions which are backed up by a large amount of capital; today’s Banks are spending
a huge amount of money on technology, improvement in infrastructure, etc. But even today the most
lasting impact about any Bank comes from the customers experience with the Bank Staff. Any
paining experience can have a lasting impact on the mind of the customer; this can force him to
change Banks or even discourage others from joining the Bank. Hence Banks should train their
employees to maintain good relations and be cooperative with the customers.
From the results of the findings, we can see that Kotak Mahindra Bank has been successful in
marinating a high level of customer satisfaction with the employees. Only 4% of the total respondents
included in the study were dissatisfied. The number of respondents who were Very Satisfied
represented 30% of the total respondents while those who were Somewhat Satisfied were 46% of the
total. The respondents who were Neither Satisfied nor Dissatisfied are 20% of the total.
Satisfaction level with bank
Staff
2
5
2
0
1
5
1
0
Satisfaction level with
bank
Staff
Very Somewh
at
Satisfied
Neutral
Somewh
Ver
y
Dissatisfied
Dissatisfied
25. SATISFACTION LEVEL WITH BANKING HOURS (10 am to 7 pm)
From the analysis of the data that has been collected from Kotak Mahindra Bank Account holders
we can see that majority of the respondents are satisfied with the Average Banking Hours.
The respondents who are Somewhat Satisfied with the Banking Hours consist of 44% of the total,
while 28% of the total respondents studied say that they are Very Satisfied. In all 72% of
the total respondents are satisfied with the Banking Hours of Kotak Mahindra Bank.
The respondents who are neither Satisfied nor Dissatisfied consist of 20% of total number studied,
while 8% of the respondents are somewhat dissatisfied.
Satisfaction with Banking
Hours
2
5
2
0
1
5
1
0
Satisfaction with Banking
Hours
Verr Somewhat Neutral Somewhat Very
Satisfied Sarisfied Dissatisfied
Dissatisfied
26. THE RESULTS OF A GENERAL SURVEY WHICH WAS CONDUCTED
ON 10 DIFFERENT BANKS IS AS FOLLOWS:
MOST IMPORTANT QUALITY IN A BANK
From the survey of more than hundred respondents belonging to different Banks we can to the
conclusion that Efficient Service offered by Banks is considered most important by account.
This study involved mainly Banks operating in the Private Sector, there are some Banks from the
Public Sector but these are at a relatively lower proportion. The Private Bank include both Indian
and Foreign Banks, the Indian Banks included ICICI Bank, HDFC Bank While the Foreign Banks
apart from Kotak Mahindra Bank studied included CITIBANK, HSBC, ABN Amro. The
Government Banks included most noticeably State Bank of India(India’s Oldest and largest
commercialBank),BankofBaroda, apart from other Banks.
62% of the respondents felt that the Bank should concentrate more on this service aspect. The
next aspect which is considered highly important by the Accountholders of various Banks is the
Staff of the Bank.
ATM
Décor
27. It is true that today’s Banking far less of Branch Banking as it was the case a few years ago , today
Account holders have a constant interaction with non-human interface like ATM machines ,
Internet Banking , Drop Box , Even phone Banking when customers do not interact in a face to
face manner with the Bank employees .But in the minds of the respondents it is very important
that the Staff the Bank employs should be cooperative, courteous and qualified to solve the
various problems of the Account holders. The percentage of respondents favoring Staff quality as
most important was 26% of the entire sample size.
The most frequent point of interaction with the Bank is ATM facility, the Account holders
whether in Private/Foreign sector or the Government sector have been provided with ATM
facility by their respective Banks. To judge the performance level of any Bank today it is crucial
that the ATM service of the Bank be studied, this includes not only the number of ATM machines
installed by the Bank, but also how technologically advanced the machines are (number of
transaction that can be done with the ATM Facility), the effort Bank undertakes to maintain
the machines and also the overall experience of the Account holder with the service. The
percentage of respondent considering the ATM service as most important was 12% of the total
sample size.
But from the respondents who were questioned none of them said that the Décor/Ambience
of the Bank Branch was most important.
On further Questioning it was revealed that they did want well-maintained Branches/OtherBank
Interaction points but this was not the most important aspect.
28. DO PRIVATE BANKS PROVIDE SUPERIOR SERVICES COMPARED TO
GOVERNMENT BANKS?
The general perception is that the service quality of Private Banks is superior to that offered by
Government sector Banks; we wanted to study whether this is a true phenomenon or whether this
was just hear say.
The most important findings would come from the group of respondents who hold Saving
Accounts with both Private and Government run Banks, as these people would be in the best
position to judge the service offered by the Banks. According to this group of respondents the
Range of Products that are offered by Private sector Banks are much more diverse than those
offered by Government Banks. Also these respondents felt that the Banks in the Private sector
were much more flexible than their Government counterparts when dealing with customers.
Private sector Banks are much more proactive when it comes to offering it’s customers new-age
methods of Banking like ATM Facility, Internet Banking , Phone Banking, These services make
the life of Account holders much easier. Another major difference that comes to most of the
respondents minds when comparing the Private and Government sector Banks is the Staff Attitude
towards the customers. Sure Private sector Bank Account holders have had problems dealing with
Bank Staff, but they still feel it is much better than how Government employees
29. behave. These Government employees show as if they are doing a favouring on the customer
when they do their job. Private sector Bank customers are offered many freebies and incentives
to remain with the Bank, or try new products of the Bank. This is never the case with Government
Banks. Overall the result of this question very clearly states that people consider the service
level of Private Banks much higher than Government Banks as 79% of the respondents
agree and only 21% of the respondents disagree.
GENERAL FINDINGS
• ATM Facility is more widely used by customers belonging to Private/Foreign Banks as
compared to Government Banks.
• Customer’s value Efficient Service over every other aspect, this is far more important than the
number of ATM machines, Staff, Décor of Bank.
• Reputation of Bank is most important when it comes to choosing especially a Private Bank.
• The general perception is that Private Banks provides better services as compared to a
Government Bank.
• People realize that Private Banks are as safe as compared to Government Banks.
• Advertisements and Freebies can be used to attract more customer.
31. CONCLUSION AND RECOMMENDATION
Kotak Mahindra Bank is Leading Bank in the country, it provides a variety of products and
services to different segments of customers. The Bank aims to serve customers from teenagers
to senior citizens, hence different products designed to suit specific requirements of the above
aims to serve all classes of the society from the salaried middleclass to the high income business
class. Customers are categorized and segmented according to their requirements and needs. For
Example, the EDGE Saving Account aims to serve middleclass customers so minimum balance
required to be maintained is Rs. 10000. While the PRO and ACE Saving Accounts are targeting
the high income customers, the minimum balance requirement is Rs. 20000 and Rs. 75000.
Customers who are more profitable to the Bank (High Value Customers) are provided special
facilities. Priority banking is meant to serve these high value customers. The Bank prides itself
with the ability to provide differentiate products in the crowded market of saving accounts.
Bank offers the free home baking, special co-branded debit cards (Smart fill Debit Card) which
makes its product unique. The Bank is also involved in marketing activities which serves as a
medium of advertisement for the Bank. These are as follows:
• Extended happy hours at certain pubs in Delhi for the Bank’s account holders.
• Gift Vouchers on making utility payments, such as cell phones, electricity and
MTNLbills.
• Free add-on cards for relatives.
• The Bank wants its customers totransact more through Internet Banking and
ATM, Rather than the customers using the branch.
• The Debit Cards provided by the Bank are Internationally Accepted around
the world, hence giving the customers the convenience to transact anytime,
anywhere.
• The Bank has tied up with other Banks so that it’s customers cause other
Bank’s ATM facility for freetransactions
• The Bank also provides DEMAT account and also sells Mutual Funds, this
provides the Bank and Government additional revenue.
The Bank has been very successful in enlarging its customer base during the last couple
of years.
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32. • The Number One Reason of people choosing Kotak Mahindra Bank is the Brand
Name/Reputation of the Bank. Hence it should be careful that the Brand name and
Goodwill the Bank has earned is not diluted.
• The Biggest competitors of the Bank are ICICI Bank and HDFC Bank and
STANDRAD CHARTERED.
• ATM Facility & Internet Banking is most popular way to transact with the Bank.
In order to sustain or for further growth in the market they also need to focus on acquiring
the more corporate clients. HDFC Bank is leader in corporate accounts as of now in private
sector. If Kotak Mahindra Bank will pay more focus on dealing with corporate clients with
best marketing strategy and amazing offers then they could probably become 1st largest
bank in India in private sector.
Overall, the customers appreciate the service and products offered by the Bank and are
willing to recommend the Bank to their acquaintances, but more attention has to paid
towards.
• Increasing the number of ATM machines
• Improving Internet Banking Facility.
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34. REFERENCES:
There was immense need and flow of the information while conducting the analysis as well
as while writing the thesis report, which was gathered through various sources mentioned
below:
• Various Magazines and Newspapers such as Outlook Financial Times, The Economic
Times , The Times of India ,The Hindustan Times, etc.
• Self-made questionnaires, Journals, Broachers and various other company related
documents
Internet Sources:
1. https://blog.investyadnya.in/hdfc-bank-vs-kotak-mahindra-bank-vs-icici-bank-vs-axis-
bank/
2. https://www.equitymaster.com/research-it/sector-info/bank/Banking-Sector-Analysis-
Report.asp?utm_source=CompInfoPage&utm_medium=website&utm_campaign=sector-
report&utm_content=banking
3. https://economictimes.indiatimes.com/markets/stocks/news/kotak-mahindra-bank-reports-
12-growth-in-deposits/articleshow/75008825.cms?from=mdr
4. https://economictimes.indiatimes.com/industry/banking/finance/banking/kotak-mahindra-
vs-hdfc-bank-are-they-following-divergent-strategies-or-are-similar-at-their-
core/articleshow/58084659.cms?from=mdr
5. https://economictimes.indiatimes.com/opinion/interviews/we-are-moving-from-high-net-
worth-to-mass-retail-dipak-gupta/articleshow/58085543.cms
6. https://www.livemint.com/market/mark-to-market/reality-check-for-kotak-bank-stock-as-
growth-slows-and-slippages-rise-11579525033402.html
7. https://www.kotak.com/en/stories-in-focus/growth-opportunities-for-a-business.html
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