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1.1INTRODUCTION OF ING VYSYA BANK
ING Vysya Bank is a privately owned Indian multinational bank based in Bangalore, with retail,
wholesale, and private banking platforms formed from the 2002 purchase of an equity stake in
Vysya Bank by the Dutch ING Group. This merger marks the first between an Indian bank and a
foreign bank. Prior to this transaction, Vysya Bank had a seven-year-old strategic alliance with
erstwhile Belgian bank Banque Bruxelles Lambert, which was also acquired by ING Group in 1998.
As of March 2013, ING Vysya is the seventh largest private sector bank in India with assets
totaling 54836 crore (US$9.1 billion) and operating a pan-India network of over 1,000 outlets,
including 527 branches, which service over two million customers. ING Group, the highest-ranking
institutional shareholder, currently holds a 44% equity stake in ING Vysya Bank, followed
by Aberdeen Asset Management, private equity firm Chrys Capital, Morgan Stanley, and Citi group,
respectively.
ING Vysya has been ranked the "Safest Banker" by the New Indian Express and among "Top 5 Most
Trusted Private Sector Banks" by the Economic Times
History
Established in 1930s, Vysya Bank was formally incorporated in the city of Bangalore, Karnataka.
The state of Karnataka is known as the "cradle of Indian banking" due to the region's bygone
banking relationship with several European East India Companies during the 17th, 18th and 19th
centuries. Seven of the country's leading banks (Canara Bank, Syndicate Bank, Corporation
Bank, Vijaya Bank, Karnataka Bank, State Bank of Mysore, and ING Vysya Bank) were originally
established in Karnataka.
From the 1930s through the 1950s, Vysya Bank built its banking business organically in southern
India. The bank focused on serving the Vysya community, a merchant/trading community operating
across Karnataka and Andhra Pradesh. In 1958, the bank was licensed by the Reserve Bank of
India (RBI) to expand its banking operations nationwide. In 1972, the RBI upgraded Vysya Bank to
a national B class bank.

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In 1987, Vysya Bank established two independently operating subsidiaries providing equipment
leasing and home mortgaging services (Vysya Bank Leasing Ltd and Vysya Bank Housing Finance
Ltd, respectively). In 1994, Vysya Bank began marketing several innovative financial products to the
fast-growing Indian middle-class segment (e.g. Vysprime and Vysinvest for NRIs,Vysbuy for
consumer financing, Vysmobile for auto loan financing, and Vysequity for common equity
financing).
Globalisation through Europe
Bank. In 1999, Vysya Bank joined the ING Group in co-marketing/distribution of life insurance
products in India. Vysya Bank also acquired a 26% equity stake in the ING Asset Management
Company. In 2000, Vysya Bank, ING Insurance, and the Damani Group formed a life insurance JV;
this innovative collaboration marks the first bancassurance venture in India. In 1995, Vysya Bank
entered into a long-term strategic alliance with Belgian bank Bank Bruxelles Lambert (BBL).
Following this agreement, the Vysya Bank engaged KPMC Peat Marwick for assistance in re-
engineering its business processes in preparation for globalisation. In 1996, an international
investment banking joint venture (JV) with MC Securities (London), an investment banking
subsidiary of BBL, was formally established.
In 1998, the ING Group acquired BBL and all its contractual and JV interests in Vysya
Formal merger with the ING Group
In 2002, Vysya Bank's Board of Directors and the RBI approved Vysya Bank's formal merger with
the ING Group. Under Indian law, this move allowed ING to increase its total equity holdings in
Vysya Bank from 20% to 44%. Peter Alexander Smyth and Jacques PM Kemp were appointed to the
board of the newly formed ING Vysya Bank.
ING Vysya Bank then appointed Bart Hellemans as CEO and managing director (MD) and G.
Mallikarjuna Rao as chairman of the board.

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Post merger News
In 2003, Western Union, a leading global money transfer firm, tied up with ING Vysya for inbound
money transfer services across India. ING Vysya then launched three new endowment products and
an innovative retail savings account called Orange with facilities such as personal accident and free
annual accident coverage. Japanese auto manufacturer Toyota then signed an agreement with ING
Vysya for auto financing services. ING Vysya then inked a deal with fertilizer concern, Madras
Fertiliser Ltd (MFL), to co-market/distribute life insurance products to farmers by employing the
fertilizer company's broker-dealer network in the rural sector.
In 2005, ING Vysya Bank named Ned Swarup to the CEO and MD role. ING Vysya launched an
innovative checking account product for mid-sized businesses. ING Vysya Bank also rolled out its
own proprietary online money transfer service.
In 2006, Vaughn Richtor stepped into the CEO and MD role for a fixed three-year term. Under Mr.
Richtor's leadership, ING Vysya went private and delisted from the Bangalore Stock Exchange. ING
Vysya also forayed into private banking and portfolio management services.
In 2009, Shailendra Bhandari was appointed as CEO and MD of ING Vysya Bank. He was formerly
the Head of Private Equity at Tata Capital, the Tata Group's private equity arm. Having completed
his three-year term in India, Vaughn Richtor was promoted to CEO of ING Banking Asia.
In 2010, the Board of ING Vysya Bank nominated Mr. Arun Thiagarajan to succeed Mr. K.R.
Ramamoorthy as chairman of the board. Mr. Thiagarajan was selected for his vast and diverse
international experience across strategic planning, economics and finance, technology and systems.
As of January 2013, ING Group plans to divest itself of its Indian insurance and investment
management businesses through the sale of its 26% interest in ING Vysya Life Insurance Company
Ltd. to its joint venture partner Exide Industries Ltd.

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CURRENT OPERATIONS
ING Vysya Bank has competed in the banking/financial services and insurance markets for over 80
years and currently serves over 2 million Indian consumers. The bank markets an entire range of
financial products and services, organised under three strategic lines of business: retail, private and
wholesale banking.
Retail banking
With 547 branches and 10 counters, 28 satellite offices and 470 ATM's nationwide, ING Vysya's
retail operation offers checking accounts, savings deposits/CD's, retail wealth management services,
consumer loans, agricultural/rural banking and retail life insurance products. The bank has rapidly
expanded its distribution footprint and has created a national brand presence through several
innovative marketing campaigns.
Private banking
ING Vysya's private bank operates on an advisory-driven model. Specialized market research
remains the bank's focus for the introduction of new tailored products to serve the high-end private
banking segment.
Corporate/wholesale banking
The wholesale banking business provides corporate clients in India a range of commercial,
transactional and electronic banking products. The bank offers client focused products including
working capital finance, trade and transactional services, foreign exchange, term loans and cash
management services. The wholesale banking business comprises four business sub-segments and
multiple product offerings. The business segments Corporate and Investment Banking, Emerging
Corporates, Banking and Financial Institutions and financial markets.
Agriculture and rural banking
Agriculture and Rural Banking deals with all business related to agriculture and allied activities,
Gold Loans, loans to SHGs and lending to government sponsored schemes. Working Capital and
Agriculture Term Loans for Poultry, Dairy, Cold storage units etc. are also being offered to cater
diverse needs of the farming community. The Bank has accelerated retail agricultural lending at a

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few places in North India and Central India especially in Rajasthan, Uttarakhand, Maharashtra,
Gujarat and Madhya Pradesh.
ING VYSYA APPS
ING Vysya bank's mobile app helps customers check the balance and much more than.
PRODUCT & SERVICES-
PRODUCTS
ING VYSYA Bank offers the following four core products:
 Personal banking
Under Personal Banking, ING VYSYA offers:
 Accounts & Deposits
 Loans
 Cards
 Demat
 Investment
 Insurance
 Wholesale banking
 Premium Banking
 Private Banking
 NRI banking
Under NRI Banking, ING VYSYA offers:
 Accounts & Deposits
 Money Transfer
 Investments & Insurance
 Research Reports
 Payment Services

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 SME banking
Under SME Banking, ING VYSYA offers:
 Accounts & Deposits
 Business Financing
 Trade Services
 Payments & Collections
 Cards
ING VYSYA offers Wholesale Banking for Corporates and Financial Institutions & Trusts. The
Bank also provides services such as Investment Banking and other services in the Government
sector.
SERVICES
Wholesale banking services
ING VYSYA Bank provides a range of commercial and transactional banking services, including
working capital finance, trade services, transactional services, cash management, etc. to large, small
and mid-sized corporates and agriculture-based businesses in India. The bank is also a leading
provider of these services to its corporate customers, mutual funds, stock exchange members and
banks.
Retail banking services
ING VYSYA Bank was the first bank in India to launch an International Debit Card in association
with Electron). The bank also issues the Master Card Maestro debit card.The Bank launched
its credit card business in late 2001. By the end of June 2013, it had a credit card base of 5.94
million. By March 2012, the bank had a total card base (debit and credit cards) of over 19.7
million. The Bank is also one of the leading players in the "merchant acquiring" business with over
240,000 point-of-sale (POS) terminals for debit/credit cards acceptance at merchant establishments.
The Bank is positioned in various net based B2C opportunities including a wide range of Internet
banking services for Fixed Deposits, Loans, Bill Payments, etc.

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Treasury
The bank has three main product areas - Foreign Exchange and Derivatives, Local Currency Money
Market & Debt Securities, and Equities. These services are provided through the bank's Treasury
team. To comply with statutory reserve requirements, the bank is required to hold 25% of its
deposits in government securities. The Treasury business is responsible for managing the returns and
market risk on this investment portfolio.
OPERATIONS
As of 30 September 2013, ING VYSYA Bank has 3,251 branches and 11,177 ATMs, in 2,022 cities
in India, and all branches of the bank are linked on an online real-time basis. The Bank has overseas
branch operations in Bahrain and Hong Kong.
ING VYSYA Bank has two subsidiaries:
a non-deposit taking non-bank finance company (NBFC). Apart from lending to individuals, the
company grants loans to micro, small and medium business enterprises. It also runs call HDB
Financial Services Limited (‘HDBFS’): HDBFS is engaged in retail asset financing. It is centers
for collection services to the ING VYSYA Bank’s retail loan products. ING VYSYA Bank holds
97.4% shares in HDBFS. As of March 31, 2013, HDBFS has 230 branches in 184 cities. During the
FY 2012-13, HDBFS had turnover of INR 9.6 billion and profit after tax of INR 1 billion. It has
6,404 employees as of 31 March 2013.
ING VYSYA Securities Limited (‘HSL’): HSL is engaged in stock broking. As of March 31,
2013, HDBFS has 194 branches across 150 cities. ING VYSYA Bank has 62.1% shareholding in
HSL. During the FY 2012-13, HSL had turnover of INR 2.3 billion and profit after tax of INR 668
million. During the year, the Company received the “Best e-Brokerage Award - 2012” in the
Outlook Money Awards in the runner up category.

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Shareholding:
On 30 September 2013, the promoter ING VYSYA group held 22.72% of its equity shares. 33.61%
of the shares were owned by the Foreign Institutional Investors (FII). Around 428,000 individual
public shareholders own approx. 8.43% of its shares. The remaining 35.24% shares are owned by
others.
Table 1.1 Shareholding of ING VYSYA
Shareholders (as of 30-September-2013) Shareholding
Promoter Group (ING VYSYA ) 22.72%
Foreign Institutional Investors (FII) 33.61%
Individual shareholders 08.43%
Bodies Corporate 08.01%
Insurance companies 05.38%
Mutual Funds/UTI 04.34%
NRI/OCB/Others 00.40%
Financial Institutions/Banks 00.09%

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ADS/GDRs 17.02%
Total 100.0%
Employees:
As of 31 March 2013, the company has 69,065 employees, out of which 12,295 are women
(17.80%). In June 2013, the company reported an annual attrition rate of approx. 20%.During the
financial year 2012-13, the company incurred INR 42 billion on employee benefit expenses.
CSR Activities:
ING VYSYA Bank has taken several initiatives as part of its corporate social responsibility.
Table 1.2 CSR Activities of ING VYSYA
Initiative Objective Activities Facts/Figures
Sustainable
Livelihood
Provide livelihood finance to empower
rural people, especially women at the
bottom of the pyramid
Training for
Occupation Skills
Credit Counseling
Financial Literacy
Market Linkages
Reached 20 lakh
households across 24
states
Financial
Literacy
Provide affordable access to basic
banking products and services to
excluded and underprivileged sections of
the society
Literacy programs in
schools
‘Power of Banking’
workshops
600 government schools
across Andhra Pradesh
& Odisha in literacy
programs
3365 students across 6
locations covered in

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workshops
Education
Spread the importance of education by
providing quality education to children
Galli School Project
Grow with Books
Library programs
Engineering
scholarships
Child development
program
Family based care
programs
A large number of
students reached
through various
programs across the
country
Training
Enhance employability of youth and
women in the weaker sections of the
society by providing training and
capacity development
Skill-based courses
Technical &
vocational training
Basic computer
programming
Educational support
for children
More than 1500 youth
benefitted through
various programs across
the country
Community
Enable economic growth and sustainable
development through community
building programs
Rain water harvesting
programs
Setting up blood
storage facilities
Construction of
sanitation facilities in
schools
Child Aid Foundation
150 tribal girls
benefitted through
sanitation project
350 poor and needy
children supported
1600+ children rescued

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Our Mission:
➢ Customer Service and Product Innovation tuned to diverse needs of individual and corporate
clientele
➢ Continuous technology up gradation while maintaining human values.
➢Progressive globalization and achieving international standards.
➢ Efficiency and effectiveness built on ethical practices.
Core Values:
 Customer Centricity
 Ethics
 Transparency
 Teamwork
 Ownership
Go Green
Take responsibility for the effects of the
operations of the Bank on the
environment and the society.
Promoting paperless
banking
Multi-channel delivery
(Internet, Mobile,
Phone, ATM)
Energy efficiency
Green infrastructure
As of Mar 2013, 82% of
customer-initiated retail
transactions direct
banking channels,
reducing the need to
commute
66 lakh retail customers
subscribed for e-
statement
20 ATMs operating on
clean energy

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SWOT ANALYSIS
 STRENGTHS
 Support of various promoters
 High level of services
 Knowledge of Indian Market
 WEAKNESSES
 Not having good image
 Market capitalization is very low
 Not been fully able to position itself correctly
 OPPORTUNITIES
 Growing Indian banking sector
 People are becoming more service oriented
 THREATS
 From various competitors
 Foreign banks
 Government banks
 Future market trends

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1.2 INTRODUCTION TO CUSTOMER SATISFACTION
Overall customer satisfaction with retail banks improved significantly from 2012, largely a result of
improvements made by big banks, according to the J.D. Power and Associates 2013 U.S. Retail Banking
Satisfaction Study.
Banks are ranked in 11 different regions based on overall customer satisfaction across six factors:
 Account information
 Channel activities
 Facility
 Fees
 Problem resolution
 Product offerings
After several years of relatively minor increases in overall satisfaction scores, customer satisfaction in
2013 improved significantly, with the largest increase among big banks. While as a group big banks
have historically trailed smaller banks in satisfying customers by a fair margin, the satisfaction gap
between big banks vs. midsize and regional banks has narrowed year over year.
During the past several years, many banks have eliminated free checking and implemented new fees,
which has often negatively impacted overall satisfaction. The study found that as fees have begun to
stabilize and banks have helped their customers better understand their fee structures, satisfaction in
this area has begun to rebound. One-third (33%) of customers say they “completely” understand their
fee structure, compared with 26% in 2012. Fees also have been a major source of customer problems
and complaints. The stability in fees, coupled with banks placing more emphasis on preventing
problems, has lowered the proportion of consumers experiencing a problem by 3 percentage points year
over year, to 18% in 2013.

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ING VYSYA BANK PRIVACY PROMISE TO CUSTOMERS
While information is the cornerstone of our ability to provide superior service, our most important asset
is our customers' trust. Keeping customer information secure, and using it only as our customers would
want us to, is a top priority for all of us at ING VYSYA Bank. Here then, is our promise to our
individual customers:
 The Bank safeguard, according to strict standards of security and confidentiality, any information
our customers share with us.
 The Bank limit the collection and use of customer information to the minimum we require to
deliver superior service to our customers, which includes advising our customers about our
products, services and other opportunities, and to administer our business.
 The Bank permit only authorized employees, who are trained in the proper handling of customer
information, to have access to that information. Employees who violate our Privacy Promise will
be subject to our normal disciplinary process.
 The Bank not reveal customer information to any external organization unless we have
previously informed the customer in disclosures or agreements, have been authorized by the
customer, or are required by law.
 The Bank always maintain control over the confidentiality of our customer information. We
may, however, facilitate relevant offers from reputable companies. These companies are not
permitted to retain any customer information unless the customer has specifically expressed
interest in their products or services.
 The Bank tell customers in plain language initially, and at least once annually, how they may
remove their names from marketing lists. At any time, customers can contact us to remove their
names from such lists.
 Whenever we hire other organizations to provide support services, The Bank require them to
conform to our privacy standards and to allow us to audit them for compliance.For purposes of
credit reporting, verification and risk management, The Bank exchange information about our
customers with reputable reference sources and clearinghouse services.
 The Bank not use or share - internally or externally - personally identifiable medical information
for any purpose other than the underwriting or administration of a customer's policy, claim or

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account, or as disclosed to the customer when the information is collected, or to which the
customer consents.
 The Bank attempt to keep customer files complete, up-to-date, and accurate. The Bank tell our
customers how and where to conveniently access their account information (except when we're
prohibited by law) and how to notify us about errors which The Bank promptly correct.
ING VYSYA BANK CUSTOMER CARE
ING VYSYA Bank customer care service has enabled the bank to reach out to their customers and
help them with any information they might need. The ING VYSYA Bank customer support centres
spread across the country operate 24 x 7 customer care services that are dedicated to provide most
accurate and prompt information regarding the banking products, services and the respective
policies. As the banking field is getting more and more commercialize, there's a bombardment of
highly innovative banking products to lure as many customers as possible. This creates confusion
among the customers about the terms and conditions that the new banking schemes are subject
to. ING VYSYA Bank customer care centres aim to carry forward the transparency ING VYSYA
Bank has maintained with its customers regarding the terms and conditions on any new banking
product and scheme.
PRODUCTS & SERVICES PROVIDED TO CUSTOMER BY ING VYSYA
BANK:
 ACCOUNTS:
 ZING MINOR SAVINGS ACCOUNT: Saving Money is now easier for minor i.e. Presenting,
ING VYSYA Bank's Minor Savings Account. At ING VYSYA Bank it has been our constant
endeavor to create products specifically catering to your needs. The account while offering you a
whole range of services also addresses minor latent need of having an account.

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Features
 Rs 2500 Average Quarterly Balance requirement
 Debit card is issued after 15 years of age and the limit of withdrawal is rs 1000/day.
 Free mobile banking facility
 At-Par cheque facility with the clearing limit of Rs 50,000
 24x7 Telebanking & Internet banking
 Free quarterly statements and passbooks.
 ORANGE SAVINGS ACCOUNT: ING VYSYA Bank offers a unique savings account which is
easy to operate and allows you to transact immediately. This product has been specially designed
keeping in mind the unique requirements of a farmer and true to its nature has been called the Krishi
Savings Account.
Some of the features of our new product are:
 Average Balance Requirement: This account is offered with the requirement of maintaining the
half-yearly average balance of Rs 5000 only. The Krishi Savings Account entitles you to an
International Master Debit Card. This card comes with: A cash withdrawal limit of Rs 25,000 per
day.
 Anywhere Banking: Being a Krishi account holder, you are entitled to access our wide network of
more than 1000 branches and 4055 ATMs across 440 cities. You can now easily carry out your
transactions through any of the branches or ATMs.
 At Par Cheque Book: Your Krishi Savings Account comes with the At-Par Cheque facility. This
facility enables you to encash the cheques as local instruments at any of the 440 centres where the
Bank has its presence, at no extra cost. Moreover, you can also issue cheques at other centers upto
the limit of Rs 50,000.

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 ZWIPE SAVINGS ACCOUNT: The account is an endeavor by the Bank to understand the
consumers' needs and redefine banking to suit your requirements for a truly comfortable banking
experience. Easy Access Savings Account gives you instant access to your money anywhere,
anytime. Possessing a range of unmatched features, it has been devised to better suit the convenience
of our eclectic client base.
 At-par cheque
 Anywhere Banking
 Telebanking
 iConnect
 Mobile Banking
 Quarterly account statement
You can avail of all these services with a minimum quarterly average balance of Rs.20000.
 PLATINA SAVINGS ACCOUNT: At ING VYSYA Bank, we have always strived to pace our
products with the growing needs of our customers. The Prime Savings account has therefore been
created with your specific financial requirements in mind. Minimum balance required is 100000.
FEATURES:
 Wider accessibility: As a Prime Savings account holder, you enjoy access to a wide network of
over 1000 branches and one of the largest ATM networks in India giving you easy access to your
account from almost any corner of the country.
 Greater convenience: To simplify daily banking, your Prime Savings account comes with an
international photo-signature Debit Card. This unique card comes with withdrawal limit of Rs.
150,000 per day, facilitating transfer of funds, deposits of cash/cheques and payment of insurance
premium (LIC).
 More comfort: Through our 24 hr Internet Banking and Tele Banking services, you can enjoy the
ease of banking from home or office. Through these comprehensive services, you can access a range
of facilities including online funds transfer, requests for a new chequebook, Financial Advisory
Services (FAS), online shopping and information on mutual funds.
 Enhanced privileges: The Prime Savings Account eases your banking experience by providing you
a passbook and monthly statement of account to keep you updated on all your transactions and
assists you better in managing your finances.

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 Added speed: Through the 'At Par' cheque facility, you have the unique advantage to encash your
cheques as a local cheque at more where the bank has a presence at no extra cost. In addition the
account enables you to issue cheques up to Rs. 1 lakh, which will be treated as 'At Par' across these
locations.
 SALARY SAVINGS ACCOUNT: Salary Savings Account from ING VYSYA Bank will do the
job for you. We know how important employee satisfaction is for an organisation to grow to its full
potential. Which is why we have tailored our Salary Savings Account not only to be a convenient
way for you to manage salaries (across various centres, through our centralised database), but also
provide your employees with a range of value added benefits.
 SMART PRIVILEGE ACCOUNT: In today's busy world it's tough being a working woman.
Right from shuttling between a job and family to taking care of her finances she has to be on her toes
all the time. Keeping this in mind, we at ING VYSYA Bank have designed a savings account best
suited for the woman of today. With the Smart Privilege Account, you can manage your money and
your life and as well as enjoy a host of lifestyle privileges. Furthermore ING VYSYA Bank's Smart
Privilege Account ensures that you have enough time for all the important things in life.
 Dedicated Relationship Manager: A Dedicated Relationship Manager will be your one point
contact at the branch for all your banking transactions thus ensuring that you would neither have to
move from one counter to the other nor stand in queues to await your turn.
 Round-the-Clock access through ATMs: There could be an instance when at 3 am you could
require cash. With our round-the-clock access you can withdraw cash up to Rs. 50,000 per day,
deposit cash/cheques, transfer funds, print a mini statement and pay insurance premiums (LIC), all
through our ATM channel which is one of the largest ATM networks in the country.
 Anywhere Banking: Imagine being in an unknown city and still having complete access to all your
transaction needs. As a customer of the bank, you are in control and not restricted to the branch. So
even if you are travelling, you can access your account easily from any of the 1000 plus ING
VYSYA Bank offices spread over 400 cities across the country.
 At-par cheque facility: Your cheque will be treated as a local cheque within the vast ING VYSYA
Bank network of over 1000 offices across 400 cities in India. Now no more running around to get a
Demand Draft issued.
 i-Connect TM: The Complete online banking experience: Its the age of Wi-Fi. All your banking
needs should be on your fingertips, with our i-connect you can check your account status, transfer

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funds, place online request for a new cheque book and many more features without even having to
visit an ING VYSYA Bank branch.
 Financial Advisory Services: Our Financial Advisor will assist you with your financial planning
and help you to earn maximum returns on your savings.
 Discount on Retail Purchases: Just live the feeling of walking into a store and getting amazing
discounts not available to others. As you are a valued customer for us, we shall endeavour to provide
you with discounts at various outlets, periodically. All you have to do is use your new Smart
Privilege Debit Card and avail of discounts at these outlets. Details of such tie-ups will be sent to
you on a regular basis.
 SENIOR CITIZEN ACCOUNT:
ING VYSYA Bank's Senior Citizen Savings Account has been designed keeping in mind the fact
that a senior citizen's banking requirements are wholly different and require special consideration.
 Special Previlege
 A Privilege assures the care which customers deserve
 ING VYSYA bank has introduced Senior Citizen ID card for Senior Privilege patrons.
 Avail of Great benefits with Senior Citizen ID card: ID card acts as an age proof. Enabling
redeem every advantage that you are eligible for. This card will soon help you avail of certain never-
before Senior-citizen benefits at various stores, service providers and installation across the nation.
 Feel safe Everywhere: Apart from provide you with the power to claim great benefits, card also act
as emergency information medium. In case of emergencies, it provides the doctors and authorities
with vital data like your blood group, allergies, illnesses, address and emergency contact details.
This ensures that you are well looked after in any situation, no matter where you are.
 Always a Privilege: It will help in strengthen the bond with us and to be of assistance to you at all
the times, no matter what your need be. Whether its loan, a savings account or any financial services
that you wish to avail of, The Bank make sure that we're always be there by your side.
 Banking Privileges :
 Dedicated Relationship Manager
 Free At-Par Cheque book
 Free Monthly Statement of Accounts and Passbook
 Free Issuance of Pay Orders or Demand Drafts drawn on ING VYSYA Bank branches

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 Free Inward Remittances
 Free Outward Remittances once a year
 Faster credits to foreign cheques providing you prompt availability of funds remitted by your near
and dear ones abroad
 Cheque pickup and Cash delivery services
 Anywhere Banking
 Telebanking
 DEPOSITS:
 FIXED DEPOSITS: ING VYSYA Bank offers you simple reinvestment Fixed Deposits (at
very competitive interest rates), which can be opened with a minimum investment of Rs 10,000.
You can make additions to your deposit in multiples of Rs 1,000 each. The tenure of deposit must
be a minimum of 6 months.
Deposit Schemes:
 Reinvestment Deposits: In a reinvestment deposit, the interest accrued to your deposit at the end
of each quarter is invested along with the principal. The tenure of your deposit must be a minimum
of 6 months. At the end of the quarter, the interest and the principal are both rolled over, and the
interest is calculated on the total sum. Income tax is deducted at source.
 Automatic Rollover: As a Fixed Deposit holder, you can avail of the facility for automatic
rollovers on maturity (for both the principal and interest). You can select this option in the Account
Opening Document (AOD). The options available are:
 Rollover only Principal: Only the principal amount will be rolled over. The interest will be either
credited to your designated account or paid out.
 Rollover Principal and Interest accrued in Reinvestment Deposit: This will rollover both the
deposit and the interest accrued for the same tenure at the interest rate applicable on the maturity
date. On or before the maturity date, you can make the following changes in the rollover
instructions of the deposit:
 Change in tenure
 Change in maturity instructions

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 Change in payment instructions
 Change in principal (only reduced amount)
 Change rollover of Principal to rollover of Principal + Interest, or vice versa.
 Withdrawals
All encashment or withdrawals of Fixed Deposits can only be made at the branch where the deposit
was booked.
 ING FIXED DEPOSIT PLUS: In the Finance Bill of 2006, the government had announced Tax
benefits to Bank Term Deposits which are of over 5 year tenure u/s 80C of IT Act, 1961 vide
Notification Number 203/2006 and SO1220 (E) dated 28/07/2006.
The salient points of the scheme notification are:
 Fixed tenure without premature withdrawal.
 Year is defined as a financial year.
 Amount limited to Rs. 100 minimum and Rs. 100,000 maximum.
 Bank will issue a Fixed Deposit Receipt that shall be the basis of claiming tax benefit.
 Term deposit under this scheme cannot be pledged to secure a loan. Rate(Normal)-
9.25%,Rate(Senior Citizen)-9.75%.
Benefits of tax break u/s 80C of IT Act Benefit Illustrator Example
Assume that a customer invests Rs 100,000 in this scheme @ 8% p.a. in fixed deposit for five
years. He will get a benefit of Rs 30,600 at 30.6 % on the eligible investment of INR 100,000
assuming that he is in Rs 2,50000 lac to Rs 10,0000 lac tax bracket, thus his effective investment
would be Rs 69,400. He would earn Rs 8000 (08 percent on 1 lac) as interest per annum, which
would translate to a return of 11.5 percent on the effective investment of Rs 69,400.

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 LOANS:
 PERSONAL LOAN: There are various needs in our life which cannot be postponed, whether it’s
your home renovation, wedding in your family, education expenses, business expansion, holiday
plans and so on. Whatever be the occasion, ING’s Personal Loan can help. The loan procedure is
 simple, minimal documentation and loan processing time is really fast!
KEY BENEFITS:
 Loan up to 15 Lac
 Attractive Interest Rate & Processing charges
 Easy documentation
 Speedy loan processing
 Hassle free loans - No security/collateral required.
 Flexible repayment options
 Part Payment Option upto 25% of principle outstanding in a year*
 Personalized and professional service
 Special Schemes for salary account holders with ING Vysya Bank.
Conditions Apply. Credit at the sole discretion of ING Vysya Bank.
 HOME LOAN: Is it an apartment you are looking for or a penthouse? Your search for a Ideal
Home ends at ING, you can avail Home Loans from ING for constructing a home, purchasing a
ready built house/flat, or even for refinancing existing loans
KEY BENEFITS:
 Attractive Interest Rates.
 Funding upto 80% of the cost of Property.
 Floating Rate loans linked to IVBR i.e. ING Vysya Base Rate.
 EMI on a monthly reducing balance method.
 Flexible Repayment Options, Maximum Loan Tenor upto 20 years.

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 Convenient part-payment options.
 Nil penalty on partial pre-payments.
 LOAN AGAINST PROPERTY: A home is more than just a house. It is the sum total of
your dreams, aspirations and the love that binds your family. Sometimes, there are situations that
demand finance on a large scale – like when your children get married, go abroad for higher
studies, when you need to provide medical care to your aged parents, fulfill any business need or
any other exigency.At these times, you decide to leverage your house as equity for raising a loan.
We understand your need to support your family and look towards their well-being.
KEY BENEFITS:
 Attractive Interest rates.
 Floating Rate loans linked to IVBR - ING Vysya Base Rate.
 EMI on a monthly reducing balance method.
 Nil penalty on partial pre-payments
 GOLD LOAN: Loan against Gold from ING. Utilise the potential of your Gold, jiyo Easy.
KEY BENEFITS:
 Get Maximum value for your gold as a loan
 Attractive interest rates
 Quick processing
 Easy documentation
 Flexible repayment options
 Your gold is safe with us

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 LOAN AGAINST SECURITIES: ING presents Loan Against Securities – so that you can
enjoy the benefit of your securities without compromising on liquidity.
KEY BENEFITS:
 No EMI’s ; No post-dated cheques.
 You pay Interest only on utilized amount
 Simple and speedy processing
 Exhaustive number of approved securities
 Up to 85% loans against debt securities.
 Up to 50 % loans against equity.
CARDS
 DEBIT CARDS: Modern times necessitate that you need to have access to your money anytime
and any where. The ING VYSYA Bank International Debit Card addresses this need. A deposit
access program, the Debit Card redefines convenience. Apart from being an ATM (Automated
Teller Machine) Card used for withdrawing cash, it also enables you to shop and make cashless
purchases. You can use the card to make payments at shops, department stores, restaurants, petrol
pumps and many more outlets in India and overseas.The ING VYSYA Bank Debit Card is a VISA
Electron Card and is accepted at VISA and VISA Plus ATMs worldwide and all merchant
establishments using electronic terminals and displaying the VISA Electron sign.
 GOLD DEBIT CARD: ING VYSYA Bank's Gold Debit Card is more than just a debit card. It
comes with a host of enhanced benefits and exclusive reward program. Meant for valued ING
VYSYA Bank customers, it is a result of our constant endeavour to understand your requirements
and design products and services with you in mind.
 BUSINESS GOLD DEBIT CARD:The Business Gold Debit Card is an effort from ING
VYSYA Bank to offer customers the very best deals possible through a debit card. Available only to
their most privileged current account holders, the Business Gold Debit Card mirrors great business
success and achievement with a host of enhanced benefits and exclusive value deals.

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The benefits of ING VYSYA Bank Business Card include:
 Instant identification
 Flexibility of usage
 Worldwide reach
 Zero petrol surcharge
 Special offers and discounts on card usage
 Reward program
 Additional safety and enhanced insurance
 Enhanced limits for cash withdrawal
 24-hour customer service
 Customer Service Contact
 REMITTANCE CARD: ING VYSYA Bank's Remittance Card is meant for people who
receive remittances from abroad. It aims to make the procedure of receiving money from your loved
ones abroad easy and hassle free. Thereby rendering the age-old instruments like Demand Drafts and
Pay Orders obsolete.
Other Advantages
ING VYSYA Bank's Remittance Card comes free of cost and with a host of advantages.
Some of them are:
 Free multi-city at-par chequebook on request
 Quarterly interest payment
 Withdraw up to Rs 40,000 every day from ATMs
 Make purchases up to Rs 40,000 every day from merchant outlets
 Free insurance cover of Rs 50,000 on goods purchased using the card
 Get protected against fraudulent transactions from the moment the loss of the card is reported.
 Pay your utility bills, recharge your prepaid mobile card at ING VYSYA Bank ATMs
 Enjoy exclusive Internet Banking, Mobile Banking and Telebanking services from ING
VYSYA bank.

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 REWARDS CARD: Timeliness and convenience is of critical essence while making payments
of salaries and commissions to the employees / agents who are the lifeline of any business. We at
ING VYSYA Bank appreciate the efforts and understand that it is all about the optimum utilization
of the resources with the utmost convenience. The ING VYSYA Bank Rewards Card is a prepaid
reloadable card which can be used for cash withdrawals at all ING VYSYA Bank ATMs as well as
Visa enabled ATMs or making purchases at the numerous merchant outlets across India, thus
making anytime, anywhere access of funds to employees.
Purpose:
Rewards Card can be used for the following varied payment needs:
 Salary Payouts for Low Ticket Salary Account
 Payment instrument for disbursement of benefits like
 Incentives
 Commission
 Rewards
 Bonus
 Reimbursements
 Other payments
 Payment instrument for reimbursements and perquisites like
 Medical Reimbursement
 Local Conveyance
 Entertainment Expenses
 Petrol Entitlement
 Mobile Phone Reimbursement
 Bills Credit

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 GIFT CARD:
 Nearly Perfect: The ING VYSYA Bank Gift Card completely does away with these
concerns. Just load an equivalent amount onto the card and gift it to your loved ones. It lets
your loved one select his own gift for himself.
 Suitable for all occasions: The ING VYSYA Bank Gift Card is suitable for gifting for all
purposes. So be it festivities like Diwali, Christmas or New Year or occasions like
marriages, birthdays, anniversaries or special days like Mother's Day, Valentine's Day, etc,
the ING VYSYA bank Gift Card is the Perfect Gift.
Perfect in more than one ways
 Aesthetic Design - The ING VYSYA Bank Gift Card comes in a unique Gift Wrap shape
thus making it more adorable as a gift.
 Denomination - Load any amount between Rs. 1,000/- and in multiples of Rs. 100
thereafter subject to a maximum limit of uptoRs. 50,000/-.
 Simple to Use - It works in the same way as a Debit Card for purchase transactions at
merchant outlets including hotels, restaurants, shops, etc.
 Balance Enquiry – ING VYSYA bank provides the facility of Balance Enquiry on the Gift
card through our Telebanking facility.
 Redemption of Unutilized Balance - Redeem any unutilized balance within three months
of the expiry of the card form any of the ING VYSYA Bank branches.
 Great Acceptance: The ING VYSYA Bank Gift Card is a VISA Electron signature based
card, which signifies the widest acceptance. It is accepted at over 130,000 VISA enabled
merchant outlets across the country.
 ANNUITY CARD: ING VYSYA Bank in association with Life Insurance Corporation of India
presents the internationally accepted Co-branded Prepaid Annuity Card. The Annuity Card is a rupee
denominated card for receiving the Annuities / Pensions from LIC of India. Now you need not wait
in long queues for depositing your cheques and no more delays in getting the credits of your
Annuities. You will also get your annuity reloaded on your card whenever it is due, so that you can
access your annuity anytime, anywhere. What's more! The Annuity Card comes to you absolutely
free of cost.

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 ESHOP CARDS:
Worried about revealing your credit card details on the Internet?
ING VYSYA Bank presents the eShop Card. A virtual credit card that allows you to shop online
securely without divulging your credit card details.
All you need is your ING VYSYA Bank Credit Card and an Internet connection! .
 ONLINE TRADING:
Investing and trading @ click of a mouse
ING VYSYA Bank with Geojit Financial Services now offers you an Online Trading Account.
Trade from the comfort of your home or office either through the Internet or the Phone. This service
provides you with an integrated Savings Bank Account, Demat Account and an Online Trading
Account to give you a convenient and paper free trading experience.As an ING VYSYA Bank
Online Trading Customer you would also have the flexibility to get an insight to a complete range of
Corporate Information, Reuter News and Research Tools which would help you to take timely
Investment decisions.
 INVESTMENT
 MUTUAL FUNDS: Invest smartly
A Mutual Fund is a trust that pools the savings of a number of investors who share a common
financial goal. The money thus collected is then invested in capital market instruments such as
shares, debentures and other securities. The income earned through these investments and the capital
appreciation realized are shared by its unit holders in proportion to the number of units owned by
them.Thus a Mutual Fund is the most suitable investment for the common man as it offers an
opportunity to invest in a diversified, professionally managed basket of securities at a relatively low
cost.

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Offering: ING VYSYA Bank’s Financial Advisory team adopts a strong research driven
recommendation model to help customers choose the best funds based on qualitative and
quantitative parameters. Apart from this, a dedicated Relationship Manager can also be assigned to
you to ensure that your investment requirements are taken care of, smoothly and efficiently. Our
advisors understand your profile and lead you through a structured financial planning process to
devise financial solutions best suited to you. The advisors will also help you choose the right
investment products in line with your investment goals.
 DEPOSITORY SERVICES: ING VYSYA Bank is a registered member (Depository
Participant) of NSDL. In this system, physical security holdings are converted into electronic (or in
other words, dematerialized) holdings. ING VYSYA Bank has been enrolled as a Depository
Participant by the NSDL - India's first depository. You can avail of all the depository-related
services by just opening an account with NSDL through ING VYSYA Bank.
 Transfer of shares and settlements: Transfer and settlements have never been easy as it is
under the depository system. All that is required is an instruction slip from you. If you are
selling securities then it has to be a delivery instruction slip. If you are purchasing
securities it has to be a receipt instruction slip or standing instructions for credit.
 Receipt of Corporate Benefits: Even securities entitlements like bonus and rights can be
credited to your Demat Account electronically. All you have to do is choose the right option
in the share application form. Cash benefits like dividends and interest will, however be
forwarded to you directly and not through the depository. However, MICR code details in the
Demat Account would ensure credit of cash corporate action to your respective bank account.
 Dematerialisation of shares: At customer’s request, ING VYSYA bank arranges to convert
their physical holdings into electronic form and this would require opening an account with
NSDL through us called "Beneficiary Account" in the name and style in which the shares are
held and lodge the share certificates with us accompanied by a dematerialisation request
form, separate for each scrip. You are required to only make sure that NSDL has admitted
that scrip for dematerialisation. An upto date list will be provided to you which will be
constantly updated.

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 Rematerilialisation
You have the option to convert your electronic shares back to physical shares.
 Pledge-Hypothecation
 You can also avail loans against your electronic shares. This process is also much
faster than in the case of physical shares.
 Freezing or Locking of Accounts
 You can also keep your accounts frozen or locked for the span of time desired by you.
No debits from your account will be made during this period.
 Dial-Your-Demat
Access your Demat Account(s) through a telephone from any of the Access Centres. Just dial
the Tele-Depository Services number and get all information about your account on Voice, Fax or
even email. Dial-Your-Dematis available 24 hours a day, 365 days a year.
This service offers a wide range of facilities such as:
 Balance Inquiry
 Statement of Demat account by fax or phone or email
 Transaction details by fax or phone or email
 Holding details by fax or phone or email
 Overdue cum Holding details by fax or phone or email
 Rejection details by fax or phone or email
 Change of PIN

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 PAYMENTS:
 BILL PAY:
ING VYSYA Bank's Bill Pay service enables you to make secure payments from the comfort of
your home or office. So its time to say goodbye to late payment fines, long queues, lost bills, and
commissions paid to local errand boys.
Features:-
 Pay bills without stepping out of your home or office
 Link multiple bills to your account
 View and Pay bills anytime, anywhere
 Fast, convenience and hassle-free
 Access to all major utility billers
 Get updates for pending bills
Registration for bill payments through Internet can be done on the Internet itself. Through the ATM,
currently LIC, BSNL and MTNL bills can be registered and paid. To register for bill payment on the
ATM, you need to fill the Registration Form for Bill Payment through ATM and submit it at your
nearest branch. Once successfully registered, your bill will appear for payment on the ATM from the
next billing cycle.

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 ELECTRONIC CLEARING SERVICES:
ECS is an electronic clearing system that facilitates paperless credit / debit transaction directly linked
to your account and also provides for a faster method of effecting periodic and repetitive payments.
Benefits of ECS (Debit)
Through ECS (Debit), you can pay all your Utility bills (electricity/telephone/Mobile bills, credit
cards, etc), Mutual Fund (SIP), Insurance Premium, Loan Installments, credit card payments,
payments of donations and other bill payments.
 TAX PAYMENTS:
 DIRECT TAX PAYMENT: The Bank is authorized for Collection of Income or Other
Direct Taxes on behalf of Central Board of Direct Taxes (CBDT) w.e.f 1 October, 2003. The
assesses or taxpayers can pay Income or Other Direct Taxes as listed below at 214 authorized
branches of ING VYSYA Bank across the country.
 Corporation Tax - Tax on Companies and Tax Deducted at Source from Companies
 Income Tax
 Interest Tax and Expenditure Tax
 Gift Tax
 Wealth Tax
 Fringe Benefit Tax (FBT)
 Securities Transaction Tax (STT)
 Banking Cash Transaction Tax (BCTT)
 Other Tax Deducted or collected at source (TDS or TCS) on salaries of employees, income
from Fixed Deposits, Vendor Payments, Rent, Income from Game Shows or Lottery, etc. Any
other Direct Tax including Advance Tax.

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 OTHER SERVICES:
 MOBILE REFILL:
Forget the road side vendor: In today's age of 24 hours connectivity, do you still need to go to
the roadside vendor every time your mobile runs out of talk time? And what happens when your
roadside vendors does not stock up your operator's recharge coupons?
With ING VYSYA mobile refill facility, you no longer have to worry about losing your mobile
connectivity anytime of the day or night. ING VYSYA Bank's mobile refill facility enables you
to refill your mobile on the ATM.
What's more: Recharging through ATM is absolutely free!
All ING VYSYA Bank debit cardholders (VISA as well as Master) and any VISA debit or
credit cardholders (any bank) can use the facility to recharge through our ATMs.
 LOCKER:
A Safe Deposit Locker with ING VYSYA Bank is the solution to your concern. Located at
select branches. in cities all over the country, our lockers ensure the safe keeping of your
valuables.
 ONLINE SHOPPING:
Safe and Secure Internet Payment.ING VYSYA Bank offers you the convenience of shopping at
many major Online stores from the comfort of your home or office. All you need is an internet
enabled PC. You can choose & then get the items delivered at your doorstep. You can also avail
of numerous online services, get to know about the current special offers/discounts and get a
preview of the new items added on to the shelves by these online retailers/service providers.
You can shop as much as you like and conveniently make instant payments by debiting your
account through the secured payment channel, iConnect - Our internet banking platform.

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E-BANKING FACILITIES PROVIDED BY ING VYSYA BANK.
E-banking facilities are provided by ING VYSYA bank to customer like phone banking,
mobile banking, ATM cards, instant alert.
Advantages of Modern age banking to customers
 Convenience: Unlike your corner bank, online banking sites never close; they're available 24
hours a day, seven days a week and they're only a mouse click away.
 Uniquity: If you're out of state or even out of the country when a money problem arises, you
can log on instantly to your online bank and take care of business, 24/7.
 Transaction speed: Online bank sites generally execute and confirm transactions at quicker
speed. You can withdrew cash from anywhere with help of your ATM or debit card.
 Efficiency: You can access and manage all of your bank accounts, including IRAs, CDs, even
securities, from one secure site.
 Effectiveness: Many online banking sites now offer sophisticated tools, including account
aggregation, stock quotes, rate alerts and portfolio managing programs to help you manage all
of your assets more effectively.

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2.REVIEW OF LITERATURE
As we know that each study has some background information is gather by the researcher from the
other studies conducted by the other people in the area. Revises are the guidelines to understand the
problem so reviews provide some secondary data regarding the problem.
Faulhaber (1995) conducted a research on Banking Markets: Productivity, Risk
and Customer Satisfaction. A structural model was developed which incorporates bank decisions on
productivity, risk taking and customer satisfaction into an equilibrium model of banking markets. This
structural model was estimated directly for 219 large U.S. banks, 1984-1992. The results were: (i)
banks differ widely in their ability to manage risk; (ii) greater customer satisfaction correlates with
greater profitability, principally due to higher levels of demand; (iv) very large bank-specific effects
that previous researches discovered appear to have been largely captured in the structural model.
Shamsuddoha and Alamgir( 2004) formulated research on Loyalty and Satisfaction Construct in
Retail Banking - An Empirical Study on Bank Customers. This study investigated
customer satisfaction as the most important factor behind loyalty in retail banking. Various study
showed that satisfaction plays an important role to establish loyal customer base. This study points out
that satisfaction and loyalty relationship was critical for retail banks. Understanding the factors behind
loyalty as well as the antecedents of customer satisfaction was an important issue for academic research
as well as for marketing in financial services. The major aim of this study was to identify satisfaction as
the major factor behind customer loyalty in retail banking. To comply with the aim, two basic questions
had been investigated where one was related to determine the relationship between satisfactionand
loyalty in retail banking, and the second one was to determine the role of dimensions of service quality
towards satisfaction. The research had been carried out through secondary research and primary
research. Survey method had been used for primary research. Personal contact approach through
questionnaire had been introduced to conduct the survey. The findings revealed that satisfaction and
loyalty were related to each other. Moreover, satisfaction had a positive and direct impact on loyalty in
banking.Inthis key words were Loyalty, Satisfaction, Retail bank.

36. 36
Fuchita(2005) conducted research customer satisfaction surveys as a means of improving disclosure
Japan's Financial Services Agency (FSA) requested the banks, securities brokerages, and insurance
companies to conduct customer satisfaction surveys and publish the results. Some have opined that
such a request by the financial authorities constitutes excessive intervention in the private sector's
management of the financial services business. The author argued that the disclosure
of customer satisfactionand other non-financial information was a welcome request from the standpoint
of full disclosure.
Naga and Rajan (June2005) formulated research on Measuring Customer Relationships. The Case of
the Retail Banking Industry argued that GAAP was ill suited for estimating the future profitability of
intangibles. It characterized the core deposit intangible, an important retail banking intangible
representing a bank's relationships with its customers, using financial and nonfinancial metrics on price,
service, customer usage, and customer satisfaction. This result occurred because the activities
underlying the measures were causally interlinked to profits, and explicitly illustrate these linkages with
a structural path model. Measurement model also predicted significant interactive effects in the way our
measures were informative about future profits, and documented such effects, not just among the
individual measures, but also across the measures and environmental factors such as the bank's strategy.
In sum, measurement model illustrated the key drivers, measures, and interactions in retail
banking customer relationships.
David (2007) conducted a study thatthe relative efficiency of banks, taking into account
a customer satisfactionratingformulated research on this paperused customer satisfaction scored
generated for a New Zealand wide survey of consumers to augment analysis of bank efficiency, and to
achieve greater consistency with shareholder value analysis. It was found that
the customer satisfaction score needs to be adjusted for the number of locations (branches) through
which customers were served. The extent of divergence in efficiency was significantly reduced,
consistent with propositions that a large divergence in efficiency scores should not be sustainable in a
competitive market.

37. 37
Haisley and Loewenstein (2009)conducted a research on the effect of gift sequence on deposit
balances and customer sentiment in a commercial bank. The impact of gifts on deposit balances
and customer sentiment was examined in a longitudinal field experiment conducted on depositors at
a bank. Several factors were manipulated: gift type, the accompanying message, and the sequence
of gift value, which was either increasing ($35 then $100 gift), decreasing ($100 then $35 gift), or a
single gift. Gifts increased deposit balances, survey response rates, and measures of customer
satisfaction, trust and loyalty compared to the no-gift control. Within gift conditions the sequence of
gift value was the most important factor, with a highly detrimental effect of decreasing value on
deposit balances. These results showed evidence of persistence in a long term follow-up analysis of
deposit balances. It concluded that by providing reciprocation, gift giving, sequence effects,
preference patterns customer are satisfied.
Hazra and Srivastava(2009) conducted research on impact of service quality on customer loyalty,
commitment and trust in the Indian banking sector. It examined the relationship of service quality
with customer loyalty, commitment and trust from the customer’s perspective in the Indian banking
sector. Data was collected from 300 customers of public and private sector banks using structured
interview schedules. The results showed that dimensions of service quality such as assurance-
empathy, reliability and tangibles significantly predict customer trust and commitment. The results
also indicated that service quality was positively associated with customer loyalty.
Private bank customers were more committed and loyal as they receive better quality of service.
The study implied that public sector banks should also come forward and try their best to provide
better quality service to win back their customers’ loyalty and commitment.
Mengi (2009)formulated Customer Satisfaction with Service Quality: An Empirical Study of Public
and Private Sector Banks. It compared customers’ perceptions of service quality of public
and private banks of Jammu. The service quality of both the banks had been measured using
SERVQUAL (service quality) scale. SERVQUAL scale was used to determine different dimensions
of service quality and chi-square analysis was used to understand the impact of SERVPERF
(service performance) dimensions (tangibility, reliability, responsiveness, assurance and empathy)
on customer satisfaction. It was found that customers of public sector banks are more satisfied with
the service quality, than those of private sector banks.

38. 38
Sinha and Sharma (2009) formulated research on the Legality of Forex Derivative Contracts:
Recent Developments in India June 01, 2009. It critically examined the ruling in Rajshree Sugar &
Chemicals Ltd. v. ING VYSYA bank which upholds the legal validity of forex derivative contracts
under Indian law. It also reflects on ICICI Bank Ltd. v. Sundaram Multi Pap Ltd. which followed
the same trend in a different context.
The perusal of literature revealed the most of the researches are in foreign. They had discussed
about the various problem faced by Customer in bank but it was also discussed whether the
customers are satisfied with the present banking services and the problem faced by them by not
providing services at time.

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3.1 NEED OF THE STUDY
After conducting the review of researchers done by various professional a gap has been identified.
Various studies were conducted on the impact of service quality on customer loyalty,
commitment and trust in the indian banking sector and customer satisfaction keeping in view the
increasing market size and intense competition. But till now there had not been any research
regarding customer satisfaction in ING VYSYA bank related to matters like whether the
customers were satisfied with the present banking services and customers perception towards
banking.This gap had been identified and it had let to the present research being undertaken. So
the need was felt to cover the areas neglected. Thus here customer satisfaction in ING VYSYA
bank has been taken care of.
3.2 SCOPE OF THE STUDY
The scope of the present study was limited to customer of ING VYSYA Bank, Dinanagar only.
3.3 OBJECTIVES OF THE STUDY
1.) To know whether the customers are satisfied with the present banking services .
2) To know the services preferred by customer.
3.) To study the scope for further improvement in banking scenario.
4.) To provide the appropriate recommendations to bank to increase customer’s satisfaction rate.

40. 40
4.RESEARCH METHODOLOGY
Research methodology is a systemic way to solve the research problem. It may be understood as a
science of studying how research is done systematically.
Research
According to Clifford Woody research comprises defining and redefining problems ,formulating
hypothesis or suggested solutions; collecting, organising and evaluating data; making deductions
and reaching conclusions; and at last carefully testing the conclusion to determine whether they
fit the formulating hypothesis.
D.Slesinger and M.Stephenson in the Encyclopaedia of social science define the research as “the
manipulation of things,concepts or symbols for the purpose of generlising to extent, correct or
verify knowledge, whether that aids in construction of theory or in practice of an art”.
4.1 Research Design
Research design is known as a framework within which the whole activity of research and
methods or procedures are clearly mentioned under which the research is to conduct.
Descriptive research and Conclusion Oriented research
The descriptive research is concerned with specific predictions, with narration of facts and
characteristics concerning individuals, groups or situations. This research conducted is a descriptive
one. The conclusion oriented research aims at determining a particular result from the research done.
4.2 Sampling design
A sampling design is a definite plan for obtaining a sample from a given population. It refers to
the technique or the procedure the researcher adopts in selecting items for the sample. The
following factors have to decide within the scope of sample design:
4.2.1 Universe
All the items under consideration in any field of study constitute a ‘universe’ or ‘population’.
This study constitute all the customers of ING VYSYA Bank, Dinanagar.

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4.2.2 Sampling frame
Sample frame refers from where the questionnaires are to be filled. Our sample frame consists of
customers and staff of ING VYSYA Bank.
4.2.3 Sampling unit
Sampling unit is the every single person who is a customer of ING VYSYA bank and can fill the
questionnaire. Or in other words , every single respondent.
4.2.4 Sample size
It is the number of respondents under consideration .In this report sample size is 100.
4.2.5 Sampling Technique
It is a method of selecting sample size for the study. Sampling technique used for this study is
convenience sampling.
4.3 Data Collection and Analysis
4.3.1 Data Collection
It is the type of data used for the study. In this study both primary and secondary data is used.
Secondary Data
The secondary data are those data which have already been collected by someone else and which
have already been passed through the statistical process. Magazines, journals are used as source of
secondary data.
Primary Data
Primary data is first hand information and thus happen to be original. Such original data is
compiled and studied for a specific purpose.

42. 42
The various sources of information are:
1. Questionnaires from respondents.
2. Consulting with officials of the bank.
4.3.2 Tools of presentation and Analysis
Tables, percentage, bar graphs and pie charts were used to analyze the data.
4.4 LIMITATIONS OF THE STUDY
1. The Banking association of ING VYSYA Bank walk- in have considered.
2. The Respondents were sometimes not ready to provide the required information.
3. Many a time the data collected from various sources was contradictory.
4. Time Bound: Research conducted was one time research i.e. restricted to 6 weeks.
5. Sample Size was small i.e.100.
6. People were reluctant to spare their time for the survey.
7. Responses may be biased given by the sample population because people hesitate to
release their personal life issues in public.

43. 43
5. DATA ANALYSIS AND INTERPRETATION
STATEMENT 5.1: Demographic Profile of Respondents
Table 5.1: Demographic Profile of Respondents
Analysis and Interpretation:The above table represented the demographics of the
respondents, majority of the respondents were of 20 – 45 years. Most of the respondents were
with an income ranging between Rs 10000-30000.
DEMOGRAPHICS
NUMBER OF
RESPONDENTS
PERCENTAGE OF
RESPONDENTS
Age:
Less than 10 years
10 -20
20 - 45
Above 45 years
0
6
79
15
0
6
79
15
TOTAL 100 100
Income
10000- 30000
30000- 50000
Above 50000
47
28
18
51
30
19
Total 93 100

44. 44
STATEMENT 5.2: Time period for which Customers are associated with
ING VYSYA Bank
Table 5.2: Time period for which Customers are associated with ING VYSYA Bank
Figure 5.1: Time period for which Customers are associated with ING VYSYA Bank
Analysis and Interpretation:
The above analysis shows us that since ING VYSYA Bank was a growing bank so maximum
no. of respondents falls in the category of 1-3 years. ING VYSYA bank has made its presence
strong in the past 3-4 years. Only 2% of respondents had been associated with the bank as in
when it was UTI bank. From the above analysis it was interpreted that majority of the
respondents were customer of ING VYSYA bank from last three years.
55%
40%
3%
2%
Association with ING VYSYA Bank
1-3yrs
3-7yrs
7-
10yrs
Time
Period
No. of Respondents % of Respondent
1-3 years 55 55
3-7 years 40 40
7-10 years 3 3
Above 10
Years
2 2
TOTAL 100 100

45. 45
STATEMENT5. 3: Visit in the branch
Table 5.3: Visit in the branch
Visit in the branch No. of respondent % of respondents
Never 1 1
1-3 times 50 50
4-9 times 34 34
10-19 times 15 15
Total 100 100
Figure 5.2: Visit in the branch
Analysis and Interpretation:
From the above given data it was analyzed that 50% of the respondents have visited
ING VYSYA bank branch 1-3 times in last 3 months, 34% have visited 4-9 times,
15% have visited 10-19 times and 1% never visited the branch in last 3 months. It
was interpreted that majority of the respondents have visited.
1%
50%
34%
15%
Visit in the Branch
never
1-3
times
4-9
times
10-
19times

46. 46
STATEMENT5.4: Source of awareness regarding ING VYSYA Bank
Table 5.4: Source of Awareness Regarding ING VYSYA Bank
Medium No. of respondents % of Respondent
Advertisement 18 18
Peer Group 18 18
Newspaper 6 6
Direct 58 58
TOTAL 100 100
Figure 5.3: Source of Awareness Regarding ING VYSYA Bank
Analysis and Interpretation:
From the above data it had been analyzed that 18% of respondents got awareness about ING
VYSYA bank through advertisements on television, hoardings, posters etc. 18% of
respondents came to know about ING VYSYA Bank through the Peer group, 6% got through
newspapers and the 58% through direct contact with the bank. As per the above analysis it
had been interpreted that maximum no. of respondents got awareness regarding ING VYSYA
bank through direct contact rather than other sources.
18%
18%
6%
58%
Source Of Awareness
Advertisemen
ts
Peer group
Newspaper
Direct

47. 47
STATEMENT5.5: Perception towards ING VYSYA Bank.
Table5.5:Perception towards ING VYSYA Bank.
Perception No. of respondent % of respondents
Friendly Staff 93 28
Timely Product Delivery
And Servicing
89 27
Provide Value Added
Services
79 24
Compete With
Competitors
70 21
Total 331 100
Figure 5.4 Perception Towards ING VYSYA Bank
Analysis and Interpretation:
From the above data it was analyzed that 28% of respondents perceived that ING VYSYA
bank had friendly staff, 27% of respondents thought that ING VYSYA bank provide timely
product delivery and services, 24% said that it provide value added services. From the above
analysis it can be interpreted that respondents perceived ING VYSYA bank staff as a friendly
staff.
28%
27%
24%
21%
Friendly Staff
Timely product
delivery
Provide value
added services
Compete with
compititors

48. 48
STATEMENT5. 6: Facilities availed by respondents from ING VYSYA Bank
Table 5.6: Facilities availed by respondents from ING VYSYA Bank
FACILITIES No. of respondents % of Respondent
Deposits 75 40
Loan 25 14
Overdraft Facilities 15 8
Internet Banking 70 38
TOTAL 185 100
Figure 5.5: Facilities Availed by Respondents
Analysis& Interpretation
From the above data it had been analyzed that 40% of the respondents said that they availed
deposit facility of the Bank and 38% respondents said that they used internet banking facilities,
14% said that they used overdraft facilities and 8% said that they availed overdraft facilities.
From the above analysis it had been interpreted that respondents took less overdraft facilities as
they had to pay interest to the bank.
41%
13%8%
38%
Deposits
Loans
Overdrafts
Internet Banking

49. 49
STATEMENT5. 7: Type of accounts in ING VYSYA Bank
Table 5.7: Type of accounts in ING VYSYA Bank
Account No. of respondents % of Respondent
Savings 73 63
Current account 23 20
Fixed deposits 5 4
Demat 4 3
Any Other 10 10
TOTAL 115 100
Figure 5.6: Type of Accounts in ING VYSYA Bank
Analysis and Interpretation:
The above diagram shows that 63% of respondents said that they had saving account in ING
VYSYA bank ,20% of respondents had current account, 4% of respondents had the fixed
deposit account,3% had Demat Account and 10% of respondents were those who had other
accounts with the ING VYSYA bank i.e Recurring Deposit, salary etc. Respondents were more
satisfied with saving accounts than current accounts because of factors like interest on the
deposits, better services, free cheque books etc.
0
20
40
60
80
100
120
no. of
respondents
%of
respondents

50. 50
STATEMENT5.8: Usage of modern age banking facilities
Table 5.8: Usage of modern age banking facilities
Facilities No. of respondent % of respondents
Phone banking 45 15%
ATM/Debit card 75 25%
Mobile banking 54 18%
Net banking 48 16%
Insta alerts 33 11%
E-mail statement 45 15%
Total 300 100
Figure 5.7:Usage of modern age banking facilities
35
75
50
20
180
19
42
28
11
100
Phone banking ATM/Debit
card
Net banking Insta alerts Total
0
50
100
150
200
250
300
No.of Respondents % of Respondents

51. 51
Analysis & Interpretation
From the above data it had been analyzed that 15% of the respondents used phone banking, 25% of
the respondents used ATM/Debit card, 18% used mobile banking, 16% of the respondents used net
banking, 11% used insta alerts and 15% used e-mail statement.
From the above analysis it was interpreted that majority of the respondents used
ATM/Debit card.

52. 52
STATEMENT 5.9: Ranking the services of ING VYSYA Bank.
Table 5.9:Ranking the services of ING VYSYA Bank.
Services Rank 1 Rank 2 Rank 3 Rank 4 Rank 5 Weighted
average score
Time saving 12 22 20 38 8 308
Inexpensive 62 22 2 6 8 176
Easy processing 12 38 32 12 6 262
Easy fund transfer 12 14 32 32 10 314
Anytime banking 2 4 14 12 68 440
Total 100 100 100 100 100
Analysis and Interpretation:
As in the above table various services of bank were being ranked to know the respondents reaction
towards these services. Inexpensive services were ranked 1 with summated score of 176. Second
rank was given to easy processing. Time saving was ranked third, easy fund transfer and anytime
banking were ranked 4 and 5 respectively.
From the above table it had been concluded that according to respondents inexpensive services was
the main service provided by ING VYSYA bank. Easy processing and time saving were the next
main services provided by the ING VYSYA bank.

53. 53
STATEMENT 5.10: Rating the satisfaction level of the customers regarding ING VYSYA
Bank
Table 5.10: Rating the satisfaction level of the customers regarding ING VYSYA Bank
Features Strongly
Agree (5)
Agree
(4)
Neutra
l
(3)
Disagree
(2)
Strongly
Disagree (1)
Summated
Score
8.1) Better Age
Facilities Than Other
Banks
14 48 24 12 02 360
8.2) Fastest And Most
Flexible Services
18 42 30 10 00 368
8.3) Reasonable Interest
Rate on Loans
10 26 20 38 06 296
8.4)Socially
Responsible
20 44 26 04 06 368
8.5) Insecurity 4 13 15 25 43 210
Summated score
Strongly Disagree - (100*1) = 100
Disagree - (100*2) = 200
Neutral - (100*3) = 300
Agree - (100*4) = 400
Strongly Agree - (100*5) = 500

54. 54
Analysis and Interpretation:
From the above table it was seen that the statements ” better E age facilities than other banks” the
value lies between neutral and agree but the value is more towards agree so the respondents were
agreed to this statement, value of statement “fastest and most flexible services” and “ socially
responsible” lies between neutral and agree but the values were more inclined towards agree so the
respondents were again agreed to the statement, the statements “Reasonable interest rate on Loans”
lies between disagree and neutral but the value were more inclined towards neutral. Value of
statement “insecurity” lies between disagree and neutral but it is more inclined towards disagree. So,
the respondents disagreed to this statement.
So, it is concluded that majority of respondents rated social responsibility and fastest and most
flexible services were provided by ING VYSYA Bank as it lied between strongly agree and agree

55. 55
STATEMENT 5.11: Satisfied with loan facilities
Table 5.11: Satisfied with loan facilities
Option No. of respondents % of Respondent
Yes 67 67
Not Sure 30 30
Nos 3 3
TOTAL 100 100
Figure 5.8: Satisfied with Loan Facilities
Analysis and Interpretation:
From the above table it was analyzed that 67% of the respondents were satisfied with the loan
facilities, 3% of the respondents were not satisfied with the loan facilities and 30% were not sure that
whether they were satisfied or not.
From the above analysis it was interpreted that majority of the respondents were satisfied with the
loan facility provide by ING VYSYA bank like student loan, personal loan, home finance and car
loan.
67%
30%
3%
SATISFIED WITH LOAN FACILITIES
Yes
Notsure
No

56. 56
6. FINDINGS OF THE STUDY
After researching through financial performance of ING VYSYA Bank and so many questions,
following are the findings of the study:
 Majority of the respondents were customer of ING VYSYA bank from last three years.
 Maximum no. of respondents got awareness regarding ING VYSYA bank through direct
rather than other sources.
 Majority of the respondents visited branch 1-3 times in last 3 months.
 Majority of the respondents were satisfied customer of ING VYSYA Bank and do
not want any changes in it. But as they were not highly satisfied there is a scope of
improvement
 Majority of the respondents used ATM/Debit card.
 Majority of respondents rated social responsibility and fastest and most flexible services were
provided by ING VYSYA Bank as it lied between strongly agree and agree
 Easy processing and anytime banking were the next main services provided by the ING
VYSYA bank.
 Majority of the respondents were more satisfied with saving accounts than current accounts
because of factors like interest on the deposits, better services, free cheque books etc.
 Majority of the respondents were satisfied with the procedure of opening accounts.
 Maximum respondents were of the view that minimum balance limit should be somewhat
less.

57. 57
7. CONCLUSION AND RECOMMENDATIONS
7.1 CONCLUSION
After completing this project we understand that if any organization wants to lead the market then it
has to focus on customer centered strategies and to provide better customer services.
ING VYSYA bank is one of the leading banks in private sector in India. It has made a mark in the
field of banking industry in a short span of time. It has strongly worked to widen its network. It has
more than 1000 branches and extension counters. The bank provides innumerable services to its
customers. It includes personal banking, dematerialization, auto loan, anywhere banking etc. Bank is
paying full attention to its customers and is also providing good services to the customers. The
market reputation of the bank is increasing day by day because of the increase in the size of the
balance sheet though it has to face cut throat competition.After conducting the review of researchers
done by various professional a gap has been identified. Various studies were conducted on the
Impact of Service Quality on Customer Loyalty, Commitment and Trust in the Indian Banking
Sector and customer satisfaction keeping in view the increasing market size and intense competition.
But till now there has not been any research regarding customer satisfaction in ING VYSYA bank
regarding whether the customers are satisfied with the present banking services and customers
perception towards banking.This gap has been identified and it has let to the present research being
undertaken. So the need was felt to cover the areas neglected. Thus here customer satisfaction in
ING VYSYA bank has been taken care of.
To conclude we can say that ING VYSYA bank is successfully moving towards its goals while
taking special care of the interests of its customers.

58. 58
7. 2. RECOMMENDATIONS
The recommendations are the important part of any type of study because through this the Bank comes to
know about their shortcomings and helps in further improvements. The following recommendations were
made after the study:
 As ING VYSYA bank has made its presence strong in the past 3-4 year so my recommendation
is that bank needs to maintain & strengthen its position among its competitors in market. And to
achieve this goal, Bank needs to focus on more customer oriented services.
 ING VYSYA bank’s accountholders usually have less fixed deposits accounts. It can increase
interest on fixed deposit accounts & thus providing more competitive products to its customers.
 In today’s scenario almost all the banks provide satisfactory ATM facility, so in order to have
competitive edge over other banks; it should improve mobile & net banking facility for its
customers. Bank can put some efforts to aware the customers about mobile & net banking &
assure them regarding its safety.
 ING VYSYA bank should provide most flexible & customized services to its priority customers
so that its word of mouth advertisement can be increased.
 ING VYSYA bank should keep a reasonable minimum limit so that its easy for every customer
to maintain their accounts.

59. 59
REFERENCES
 Faulhaber (1995) “Banking Markets: Productivity, Risk and Customer Satisfaction”.pp95-14
 Shamsuddoha and Alamgir ( 2004) “ Loyalty and Satisfaction Construct in Retail Banking -
An Empirical Study onBank Customers”, The Chittagong University Journal of Business
Administration, Vol. 19, 2004 http://www.bank.org.uk/internet-banking/
 Fuchita (2005) “Means of Improving Disclosure”, Nomura Capital Market Review, Vol. 8,
No.3, pp. 14-20, Autumn 2005
 David (2007) “TripeThe Relative Efficiency of Banks”,20th Australasian Finance &
Banking Conference 2007 Paper .
 Haisley and Loewenstein (2009) “It is Not What You Get But When You Get it: The Effect
of Gift Sequence on Deposit Balances and Customer Sentiment in a Commercial Bank”
 Hazra and Srivastava(2009) “Impact of Service Quality on Customer Loyalty, Commitment
and Trust in the Indian Banking Sector”, The IUP Journal of Marketing Management, Vol.
VIII, Nos. 3 & 4, pp. 74-95, August & November 2009
 Mengi (2009) “Customer Satisfaction with Service Quality” The IUP Journal of
Management Research, Vol. VIII, No. 9, pp. 7-17, September 2009 Nagar andRajan (June
2005) “Measuring Customer Relationships” http://ssrn.com/abstract=730723
 Nitsure, Rupa rage,”current operations”,Economic and Political Weekly,Dec 27,2003 issue
 Maheshwara Rao,T.Uma and Hymavathi.,”shareholdings of bank”,Indian journal of
marketing ,vol.XXXV, No.4,April 2005
 Malhotra ,T.D,privacy promise to customers,Sultan Chand and Sons,New Delhi,2002.
 Kannabiran G.,Narayan P.C.,”-ECS”. Retrieved from doi.wiley.com/10.1002/itdj.20025

60. 60
QUESTIONNAIRE
Dear Respondent,
I Aradhana, of Apeejay Institute of Management Technical Campus Jalandhar is
conducting a research on “Customer Satisfaction in ING VYSYA Bank”. So, I request you to
spare a few minutes from your busy schedule and fill this form. I assure you that the information will
be kept confidential.
 Name of the Customer:
 Age:
 Sex: Male Female
 Address:
 Income (Rs.) : 10000-30,000 30,000-50,000 Above 50,000
1.) You have been a customer of ING VYSYA Bank since:
a) 1-3 years b) 3-7 years
c) 7-10 years d) 10 years above
2.) To what extent are you satisfied with ING VYSYA Bank?
(a) Highly satisfied (b) satisfied
(c) Dissatisfied (d) highly dissatisfied
3.) How did you come to know about the ING VYSYA Bank?
a) Advertisement b) Peer Group
c) Newspaper d) Direct

61. 61
4.) What is your Perception Towards ING VYSYA Bank?
a) Friendly Staff b) Timely Product Delivery And Services
c) Provide Value Added Services d) Complete With Competitors
5.) Which facility you have taken from ING VYSYA Bank?
a) Deposit b) Loans
c) Overdraft Facilities d) Internet Banking
6.) What type of account do you have with the bank?
a) Savings A/C b) Fixes deposit A/C
c) Current account d) Any Other
7.) Which of the following modern age banking facilities are you aware of? (Multiple answers)
(a) Phone banking (b) ATM/ Debit card
(c) Mobile banking (d) net banking
(e) Insta alerts (f) Email statement
8.) Please Rank the Services of ING VYSYA Bank on scale of 1 to 5. (Where 1 is the major cause
and 5 is the minor cause)
A) Time Saving
B) Inexpensive
C) Easy Processing
D) Easy Fund Transfer
E) Anytime Banking

62. 62
9.) Please rate the satisfaction level regarding the following features of ING VYSYA bank
Features Strongly
Agree (5)
Agree
(4)
Neutral
(3)
Disagree
(2)
Strongly
Disagree (1)
Summated
Score
8.1) Better Age
Facilities Than Other
Banks
8.2) Fastest And Most
Flexible Services
8.3) Reasonable
Interest Rate on Loans
8.4)Socially
Responsible
8.5) Insecurity
10.) Are you satisfied with the categories of loans available, options are student loan,
personal loan, home finance and car finance ?
YES NOT SURE NO
11.) Do you think senior citizen are satisfied with the with the services provided by ING VYSYA
bank.
YES NO
Thank You