This document provides information about Standard Chartered Bank, including its history and operations. Some key points: - Standard Chartered was formed through the merger of The Standard Bank of British South Africa (founded in 1863) and The Chartered Bank of India, Australia and China (founded in 1853). - It has over 1,200 branches across 56 countries in Asia Pacific, South Asia, Middle East, Africa, UK and Americas. - The bank serves both consumer and wholesale banking customers, combining local expertise with global reach. - Standard Chartered has a long history in banking, dating back over 150 years, and is a leading international bank primarily focused on Asia, Africa and the Middle East.

1. COMPARITIVE ANALYSIS OF
FINANCIAL PRODUCTS AND
SERVICES OF STANDARD
CHARTERED BANK WITH OTHER
MULTINATIONAL BANKS AND
PRIVATE SECTOR BANKS
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2. http://www.studygalaxy.com/
DECLARATION
I , Sweta Arora studying in Third semester of Masters Of Business Administration in the
Academic Year 2007-2009 at Amity Business School, Amity University, Noida, Uttar
Pradesh hereby declare that I have completed the project titled “COMPARITIVE
ANALYSIS OF FINANCIAL PRODUCTS AND SERVICES OF STANDARD
CHARTERED BANK WITH OTHER MULTINATIONAL BANKS AND PRIVATE
SECTOR BANKS” as a part of the course requirement of Masters Of Business
Administration of Amity University.
I further declare that the information presented in this project is true and original to the
best of my knowledge.
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3. CERTIFICATE
This is to certify that Sweta Arora studying in Third Semester of Masters Of Business
Administration in the Academic Year 2007-2009 at Amity Business School, Amity
University, Noida, Uttar Pradesh has completed project on “COMPARITIVE
ANALYSIS OF FINANCIAL PRODUCTS AND SERVICES OF STANDARD
CHARTERED BANK WITH OTHER MULTINATIONAL BANKS AND PRIVATE
SECTOR BANKS”, under my guidance for two months i.e. 01.05.2008 to 30.06.2008
The information presented in this project is true and original to the best of my
knowledge.
Date:
Place: (Prof. Dr. Raju G)
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4. ACKNOWLEDGEMENT
"Sometimes our light goes out
But is blown into flame by another human being.
Each of us owes deepest thanks
To those who have rekindled this light"
No work is a single man’s effort. Cooperation, guidance and coordination are required at
various levels for the successful completion of a project.
I take this opportunity to express my gratitude to all those people who have been
instrumental in successful completion of my project. I extend my sincere thanks to my
faculty guide, DR. RAJU G, who helped me in all possible ways and constantly
encouraged me throughout my project. I also thank him for his valuable guidance and for
being understanding and supportive. I am particularly indebted to Mr.DASHRATH
RENWA, my industry guide for his helpful guidance, comments and suggestions
throughout my project.
I am also grateful to the respondents who filled my questionnaires and helped me in
gaining an insight of “Standard Chartered” as a brand in the Indian market. Their
enthusiastic feedback has given my project a direction. All errors, if any, in the project
are my sole responsibility.
I would also like to express my gratitude towards my parents and friends, who have
always been my source of inspiration and motivation.
(SWETA ARORA)
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5. EXECUTIVE SUMMARY
Standard Chartered Bank having an history of over 150 years in the banking sector has
become one of the world’s fastest growing bank. In India, Standard Chartered started its
operations by opening a branch at Kolkata in 1858 and has completed 150 years of its
existence as a company in 2003.
Standard Chartered offers various financial products and services to its customers to
invest their savings viz. savings account, current account, fixed deposits, mutual funds
and insurance plans in tie up with Bajaj Allianz.
The project is related to comparison of financial products and services of Standard
Chartered Bank with other multinational banks and private sector banks existing in
India. A secondary as well as primary research was conducted. Questionnaires were
designed and were filled by the customers having their relation in the banks studied
taking the sample size as 100.
From the research conducted it was concluded that though Standard Chartered has
grown tremendously in India, it still has a long way to go. The customers are satisfied
with the bank’s savings account but when other products are concerned like current
account, term deposits customers are not much satisfied with the benefits provided. Even
under savings account, average quarterly balance of 10,000 is to be maintained which is
not affordable by all. So, the customers of Standard Chartered are basically the rich class
people. Moreover, people are very much dissatisfied with the Bank’s credit card and
most of them are planning to discontinue the product.
Standard Chartered should target the middle income group. It should focus on brand
building by expanding market. Standard Chartered has restricted its operations in metros
so it should make its stand in non- metros as well. It should improve its services and
check its loopholes to satisfy its customers fully.
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6. TABLE OF CONTENTS
Page no.
Chapter 1 : INTRODUCTION 7 - 10
1.1 Introduction 8
1.2 Rationale 9
1.3 Objectives 9
1.4 Methodology 10
Chapter 2 : INDUSTRY AND COMPANY INTRODUCTION 11 - 18
2.1 Industry Introduction 12 - 13
2.2 Company Introduction 14 - 18
Chapter 3: PRODUCTS AND SERVICES 19 - 43
3.1 Saving Account 20 - 25
3.2 Current Account 26 - 29
3.3 Insurance Plans 30 - 35
3.4 Credit Cards 36 - 38
3.5 Services 39
3.6 Financial Statement 40 - 43
Chapter 4: DATA ANALYSIS AND INTERPRETATION 44 - 80
4.1 Secondary Data Analysis 46 - 53
4.2 Primary Data Analysis 55 - 77
4.3 SWOT Analysis 78 - 80
Chapter 5: FINDINGS, RECOMMENDATIONS
AND CONCLUSION 81 - 92
5.1 Findings 83 - 87
5.2 Recommendations 88 - 89
5.3 Conclusion 90 - 92
APPENDIX 93 - 97
BIBLIOGRAPHY 98 - 99
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7. 7
CHAPTER 1
INTRODUCTION

8. 1.1 INTRODUCTION
Saving generally means putting money aside for example by putting money in the bank
or investing in a position. Saving in a broader sense refers to economizing, cutting costs
or to rescuing someone or something. In terms of personal finance it refers to preserving
money for future use, typically by putting into deposit. In banking terms, saving can be
in the form of opening a savings account or a current account, investing in fixed deposits
or mutual funds or by covering risk through insurance.
Savings account are the accounts that let customers set a side a portion of their liquid
asset while earning a monetary benefit. Saving accounts are offered by commercial bank,
saving and loan associations, credit unions, building societies and mutual savings banks.
Current account is the feature packed checking account for the business/ commercial
segment of users. Customers have the benefit of high monthly transaction at no
additional cost. Cheque book facility is available under this account. Routine payments
can be made by the customers by giving standing instructions to the bank. Nomination
and power of attorney facility is also available.
A fixed deposit is meant for those investors who want to deposit a lumpsum of money
for a fixed period. Fixed deposit can be made for a minimum period of 15 days to 5 yrs
and above which gives higher rate of interest in return.
Insurance in Law and Economics, is a form of risk management primarily used to hedge
against risk of contingent loss. It is defined as the equitable transfer of the risk of a loss,
from one entity to another in exchange for a premium.
Mutual fund is a professionally managed firm of collective investments that collects
money from many investors and puts it in stocks, bonds, short term money market
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9. instruments and/ or other securities. Currently the worldwide value of all mutual funds
totals more than $26 trillion.
1.2 RATIONALE
The basic aim behind preparing the report is to know where financial products and
services of Standard Chartered Bank stand in the Indian market. Who are the major
competitors of Standard Chartered bank including both multinational bank and private
sector bank. Are the customers of Standard Chartered satisfied with the products and
services offered by the bank. The study also aimed at knowing that if the bank is able to
give what it promises and if it is successful in the Indian market or not.
1.3 OBJECTIVES
• To analyze the various financial products and services offered by various
multinational banks
• And then, on the basis of the products and services offered, compare the
performance of these banks with Standard Chartered Bank.
• Thus by comparing the performance of the various banks I have to devise
strategies to increase the business for Standard Chartered Bank and discover the
potential market segment which may help Standard Chartered Bank to stay ahead
in the competition.
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10. 1.4 METHODOLOGY
Since it is basically a market research project along with some marketing and selling of
financial products, various market research methods were used to accomplish its goals. I
conducted a market survey to know about the various players and their performance in
the industry taking into consideration the various products and the product related
services provided by them. The stepwise methodology that was used is:
1. Sampling: Population that was taken as a sample included customers of some
multinational banks like Standard Chartered Bank, ABN-AMRO, HSBC, Citibank
and some new private sector banks like ICICI Bank, HDFC and IDBI.
2. Secondary research
3. Survey research was done through
 Personal Interviews
 Interactions with consumers of different banks.
Questionnaires were designed to conduct interviews. Sample Size was taken as 100.
4. Scaling technique used is ordinal, nominal and interval.
5. Preparation and tabulation of data.
6. Data Analysis.
The information thus obtained from the survey was used to discover the potential
segment for generating new business for the organization and thereby devise strategies
to generate new business from that potential segment.
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11. CHAPTER – 2
INDUSTRY
INTRODUCTION
AND COMPANY
INTRODUCTION
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12. 2.1 INDUSTRY INTRODUCTION
Although the antiquated Indian banking system has its roots in the nineteenth century,
the character and structure of the system has, however, changed substantially since 1969,
when the major banks were nationalized. Prior to nationalization, banking was
concentrated only in urban areas. It was clear that a better banking system was needed to
promote the economic goals of the new Indian state. Rural markets for industrial goods
could not be developed so long as money lenders charge high rates of interest, which
was the main source of rural credit. Moreover, the 'green revolution' depended on
farmers finding substantial sources of credit to pay for fertilizers and hybrid seeds.
Since the mid-1970s, there has been a spectacular growth in the number of bank
branches and in the size of their deposits and advances. According to experts in banking
this transformation has no parallel anywhere in the world. After nationalization, there
was also a change in recruitment policy. For the first time, the doors of the banks were
opened to everyone, irrespective of family status, caste, community, religion or gender.
Recruitment was done on a more systematic basis, with merit assessed by conducting
aptitude tests by an external agency in a relatively impartial manner.
As the size of the banking sector increased, the industry became difficult to manage and
Computer technology offered a possible solution. In India in the early 1960s, a small
number of industrial houses and a few educational, research and development
institutions started using computers. During the late 1960s and 1970s, service-oriented
industries such as airlines, railways and insurance companies introduced computers in
order to 'improve their functioning' and 'to provide better customer service’. However,
Banks in India did not introduce computers on a large scale because of the fear that these
would result in retrenchment and unemployment.
For a long time Indian banks faced very little competition and operated in a protected
economy and so no long-term policy or perspective was formulated for the banking
sector. Banking sector was simply treated as a part of the public sector. But now, well-
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13. computerized foreign banks are beginning to compete seriously with the nationalized
banks. They target at the profitable and wealthy part of the market and, in contrast to the
nationalized banks, do not recognize any social responsibilities to small account holders
or to a rural and semi-urban client.
The banking and financial services Industry in India is in a state of inevitable and rapid
growth. The market for banking products and services has become more competitive
than ever before. With the steady fall in interest rates over the two years, customers
started looking for alternate avenues for savings and investments such as pension funds,
mutual funds, life insurance products etc. Furthermore, interest margins and hence
revenue opportunities have become very thin which are driving banks and financial
services companies to look for lending opportunities where intrinsically the delinquency
rates on loans are low and where the risk can be spread across a large base of customers.
Simultaneously, a rapidly growing middle class having an enormous appetite to borrow
from Banks for a better and improved lifestyle, has given banks and financial services
companies an opportunity to finance the demand side of the Economy.
The multinational banks and some of the new private sector banks in the country have
entered the Indian market and seized the opportunity very well. The public sector banks
and the old private sector banks, who command over 80% market share in the banking
industry, must seize the opportunity in a big way and respond aggressively to market
demands if the growth in Retail Banking has to be accelerated in the country itself.
To be successful in Retail Banking, banks will need to revamp their business model to :-
(a) build a large volume, highly scalable operation,
(b) package and deliver products rapidly in a dynamic market,
(c) leverage effectively on multiple delivery channels (branch, internet, ATMs etc.)
with a view to contain the cost of operations
(d) build collaborative relationships with providers of related financial products and
services and move towards converting the network of bank branches into ‘financial
supermarkets’.
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14. 2.2 COMPANY INTRODUCTION
Overview
Standard Chartered – leading the way in Asia, Africa and the Middle
East
Standard Chartered has a history of over 150 years in banking sector and is in many of
the world’s fastest growing markets. It has an extensive global network of over 1,200
branches (including subsidiaries, associates and joint ventures) in 56 countries in the
Asia Pacific Region, South Asia, the Middle East, Africa, the United Kingdom and the
Americas. As one of the world’s best international bank, Standard Chartered employs
over 44,000 people, representing 89 nationalities worldwide.
Standard Chartered PLC is listed on both the London Stock Exchange and the Stock
Exchange of Hong Kong and is ranked among the top 25 among FTSE-100 companies,
by market capitalization.
Serving both Consumer and Wholesale Banking customers, the Bank combines deep
local knowledge with global capability to offer a wide range of innovative products and
services as well as award winning solutions.
Standard Chartered is committed to be the Right Partner to all its stakeholders by living
its values and managing its people, exceeding expectations of its customers. Bank has
made a difference in the communities in which it operates and works with its regulators.
The Bank is trusted by its customers for its standard of governance and corporate
responsibility.
History
The Standard Chartered Group was formed in 1969 by merging two banks: The Standard
Bank of British South Africa founded in 1863, and the Chartered Bank of India,
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15. Australia and China, founded in 1853. Both the companies were keen to capitalize on the
huge expansion of trade and to earn the handsome profits to be made from financing the
movement of goods from Europe to the East and Africa.
The Chartered Bank
It was funded by James Wilson following the grant of a Royal Charter by Queen
Victoria in 1853 .
 Chartered opened its first branches in Mumbai (Bombay), Calcutta and
Shanghai in 1858, followed by Hong Kong and Singapore in 1859.
 Its traditional business was in cotton from Mumbai (Bombay), indigo and tea
from Calcutta, rice in Burma, sugar from Java, tobacco from Sumatra, hemp
in Manila and silk from Yokohama
 Played a major role in the development of trade with the East which followed
the opening of the Suez Canal in 1869, and the extension of the telegraph to
China in 1871.
 In 1957 Chartered Bank bought the Eastern Bank together with the Ionian
Bank’s Cyprus Branches. This established a presence in the Gulf.
The Standard Bank
 It was founded in the Cape Province of South Africa in 1862 by John
Paterson and commenced business in Port Elizabeth, South Africa, in
January 1863.
 Was mainly in financing the development of the diamond fields of
Kimberley from 1867 and later extended its network further north to
the new town of Johannesburg when gold was discovered there in
1885.
 Expanded in Southern, Central and Eastern Africa and by 1953 had
600 offices.
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16.  In 1965, it merged with the Bank of West Africa expanding its
operations into Cameroon, Gambia, Ghana, Nigeria and Sierra Leone.
In 1969, Chartered and Standard to were merged. However, in 1986 , a hostile takeover
bid was made for the Group by Lloyds Bank of the United Kingdom. When the bid was
defeated, Standard Chartered entered a period of change and provisions were made for
third world debt exposure and loans to corporations and entrepreneurs who could not
meet their commitments. Standard Chartered began a series of divestments in the United
States and South Africa, and also entered into a number of asset sales.
In the early 90s, Standard Chartered focused on developing its strong franchises in Asia,
the Middle East and Africa using its operations in the United Kingdom and North
America in order to provide customers a bridging gap between these markets. Secondly,
it focused on consumer, corporate and institutional banking, and on the provision of
treasury services.
In 2000, it acquired Grind lays Bank from the ANZ Group and the Chase Consumer
Banking operations inHongKong.
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17. Establishment of Standard Chartered Bank around the world
Country Year Established Country Year Established
United Kingdom 1853 Australia 1964
China, India, Sri
Lanka
1858 Mexico, Oman 1968
Hong Kong,
Singapore
1859 Peru 1973
Indonesia,
Pakistan
1863 Jersey 1978
Philippines 1872 Brazil 1979
Malaysia 1875 Venezuela 1980
Japan 1880
Falkland Islands,
Macau
1983
Zimbabwe 1892 Taiwan 1985
The Gambia,
Sierra Leone,
Thailand
1894 Cameroon 1986
Ghana 1896 Nepal 1987
Botswana 1897 Vietnam 1990
USA 1902
Cambodia, South
Africa
1992
Bangladesh 1905 Iran 1993
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18. Zambia 1906 Colombia 1995
Kenya 1911 Laos, Argentina 1996
Uganda 1912 Nigeria 1999
Tanzania 1917 Lebanon 2000
Bahrain 1920 Cote d’Ivoire 2001
Jordan 1925 Mauritius 2002
Korea 1929 Turkey 2003
Qatar 1950 Afghanistan 2004
Brunei, UAE 1958
Standard Chartered in India
Standard Chartered Bank India is the country’s largest international bank having 82
branches and over 8,000 employees and is one of the profitable bank in India. The Bank
has played a significant role in the history of the banking industry in India since opening
its first branch at Kolkata in 1858 and completed 150 years of existence as a company in
2003. Standard Chartered Bank India is an active participant in various advisory forums
and has played a lead role in RBI committees on Rupee Derivatives and Options. The
Bank’s back office operations, which were India’s first to be accorded ISO 9002
certification, now form part of the state-of-the-art global processing and reconciliation
hub in Chennai.
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19. 19

20. 3.1 SAVING ACCOUNT
1. Axcess Plus
Having average quarterly balance of 10,000 and 15,000 .A customer can get instant cash
at over 13,000 ATMs across India and over 8, 10,000 ATMs across the world through
the Visa network. And get a globally valid Debit Card that lets you shop at over 55,000
outlets in India and at over 12 million outlets across the world.
CHAPTER – 3
PRODUCTS AND
SERVICES
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21. Unique features
• Free access to cash anytime, anywhere, across India.
• Provides two types of debit cards –
1. Shop smart debit card : a customer can withdraw Rs.25,000 per day or
shop for Rs.25,000 per day.
2. Gold debit card : a customer can withdraw Rs.95,000 per day or shop for
Rs.95,000 per day. One reward point on every Rs.100 spent and one
dinners card free.
• Phone banking, Internet banking, Multi-city banking, 365 days branches,
extended banking hours, lockers facility and doorstep banking.
• At - par cheque book free of cost.
• Add-on card for your loved one available with the joint account facility
• Choice of photo, non-photo and picture cards
2. Super Value
The unique Super Value savings account is a proof that the best things in life come free.
With an average quarterly balance of just Rs. 50,000, you get a host of services from
Standard Chartered Bank absolutely free.
Unique features
21

22. • Free globally valid Debit-cum-ATM card both shop smart debit card and gold
debit card.
• Free Access to 6500 ATMs in India
• Free Payable at Par cheque book/ account statements.
• One demand draft free daily.
• Free Doorstep Banking – one per day.
• Free bill pay
• Free Inter Bank Funds Transfer
• Free Foreign Inward Remittance Certificates
• Free Investment Advisory Services
Other benefits of the SuperValue account:
• Globally valid debit card - make purchases at over 12 million merchant
outlets and withdraw cash at over 810,000 ATMs worldwide using funds
from your account
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23. • Multicity Branch Banking - access your account even when you are out of
town
• Enjoy extended Banking hours at all our branches, and Speed Cheque
Clearing and Metro Clearing facilities
• 24-hour branches, 365 day branches available at select locations
• Phone banking - available to you 365 days a year on a 24-hour basis in the
metros and everyday of the week at other centers
• Internet banking - access and transact on your accounts through the Internet
from any part of the world
• Free Investment Advisory Services to assist you in investing in a range of
mutual funds
• Full suite of complimentary banking services including credit cards, loan
products and capital market services
3. Parivaar
Parivaar savings account is a unique Wealth Management Solution from Standard
Chartered Bank that provides flexibility, convenience and essential tools for wealth
accumulation and preservation. Parivaar is much more than a regular Savings Account.
It allows maintenance of individual identity and tapping of family's financial strength. It
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24. also offers attractive insurance options to protect against unforeseen events and the
facility of Systematic Investment Plan (SIP), a unique long-term wealth building tool. A
customer has to maintain an average quarterly balance of Rs.25,000.
Unique features
• Your family can maintain individual savings accounts with the benefit of
clubbing balances in grouped accounts.
• Anytime, anywhere access to accounts through ATMs, Phone Banking and
Internet banking
• Option of Systematic Investment Plan (SIP), a well known long term wealth
building tool that allows investment of fixed amount of money every month
in specific mutual funds.
• At par cheque book free of cost.
• Provides both shop smart debit card and gold debit card.
• Head of the family can access accounts of all the members.
• Globally valid ATM-cum-debit card can be used at 55,000 merchant outlets
in India and 12 million outlets worldwide.
4. 2-1 Account
A unique account that offers you a double advantage, letting you earn the high interest
rate of a fixed deposit while you enjoy the flexibility of a savings or current account.
How does the 2-in-1 account work?
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25. The 2-in-1 account gives the facility of linking your fixed deposits with a savings or
current account. In case of any shortfall in the savings or current account, funds will be
automatically swept in from the linked fixed deposits, thus giving you a combination of
both liquidity and higher returns.
In case you need to withdraw amounts in excess of what is available in your savings or
current account, we will break your deposit for the exact amount you require. The rest of
the deposit continues earning the original high interest.
With fixed deposit of Rs.1,00,000 or more a 0 balance account can be maintained.
Unique features
• Earn fixed deposit interest rates
• Enjoy the flexibility of a Savings or a Current Account
• Free personalized cheque book and Debit/ATM card
• Flexibility of withdrawing money whenever you need it
• Deposit more money in your account to earn a higher rate of interest by
placing subsequent deposits
• Phone Banking for account related information at your fingertips
• Free doorstep facility , SMS banking , Internet banking and Multicity branch
banking.
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26. 3.2 CURRENT ACCOUNT
1. Business plus
In business, time is money and the Standard Chartered Business Plus Account saves
both time and money of a customer. It is designed to cater to all business needs and
give a range of conveniences to its customers unmatched by an ordinary current
account.
Unique features
• Free Multicity At-Par cheque books that saves valuable time and money
(payable at all branch locations)
• Free drafts and pay orders
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27. • Express Cheque Collection & National Clearing Speed Service
• Free National Electronic Fund Transfer in over 63 banks and 26,000 branches
across India. Funds can be transferred within 24 hours.
• Free Consolidated Account Statement for every quarter
• The option to maintain and operate account in any of the branches for free.
• Cheque pick-up or DD/PO delivery/ Cash pick up and delivery as per your
convenience
• Doorstep Banking Facility
• Anytime access to Business Plus Account from anywhere in the world,
through Free Internet banking facility
• Free Phone Banking Facility
• Debit Card with all benefits of axcess plus saving account which can be used
in over 6500 ATMs across the country
• Special pricing on Trade Services through International Trade and Treasury
Services
2. Enhanced Business Plus Account
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28. The Enhanced Business Plus Account offered by Standard Chartered Bank is designed to
make business better and make the most efficient use of money.
Unique features
• Free drafts and pay orders at all Standard Chartered branch locations
• Free drafts can be availed in correspondent bank locations upto a limit of
Rs.75 lakhs per month
• Multicity At – par cheque books payable at all branch locations
• Special pricing on Trade Services through our International Trade and
Treasury Services
• Express Cheque Collection & National Clearing Speed Service
• Free National Electronic Fund Transfer in over 63 banks and 26,000 branches
across India . The funds of the customers can be transferred within 24 hours.
• Easy outstation cheque pick up and collection at 175 locations
• Remote Pay Facility that provides easy delivery of a draft payable at 42 select
locations to any address within 24 hours
• Free doorstep facility
• Free Internet banking
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29. • Free Phone Banking
• Free Multicity banking
• Free Debit Card with benefits of Axcess Plus saving account.
• Flexible banking hours
Average Quarterly Balance of various accounts
Current Account Average
Quarterly
Balance
Enhanced Business Plus
100
Rs.100,000
Enhanced Business Plus
500
Rs.500,000
Enhanced Business Plus
1000
Rs.10,00,000
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30. 3.3 INSURANCE PLANS (ULIP)
Standard Chartered Bank has a tie up with Bajaj Allianz for selling of insurance plans.
Various insurance plans are as follows:-
1. Young Care Plus
This policy insures a safe financial future giving attractive returns and guaranteed
life cover with added benefit of Critical Illness cover.
Unique Features
• Loyalty units to enhance the fund value of the customer every year
from the sixth policy year.
• Provides a guaranteed Sum Assured plus to pay premium on behalf
of the customer. In case of an unfortunate death of a customer or
on being diagnosed to be suffering from specified critical illness,
whichever occurs first.
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31. • The policy continues to participate in investment performance of the
fund till maturity even after the payment of Sum Assured as part of
death or critical illness benefit.
• A fund called ‘Asset Allocation Fund’ looks after the investment of
the customer even when market condition change. The fund
managers monitor the mix of assets in the fund and manage the
mix in order to maximize your returns.
• If the customer wants to manage the mix of assets for their own
policy, there is a choice of 5 other investment funds, with
complete flexibility to switch money from one fund to the other to
manage the investment better.
• The policy continues to participate in investment performance of the
fund even if the customer is not able to pay the premium for first 3
full years.
• The policy provides flexibility of partial withdrawals at any time after
three years from commencement of the policy provided first three full
years’ premiums are paid.
• The policy provides an option to pay top up premiums anytime during
the tenure of the policy in order to enhance the savings in the future.
• The policy also gives an option to choose UL Accidental Permanent
Total/Partial Disability Benefit as an individual rider benefit to
provide assurance to the whole family.
2. New Unit Gain
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32. This insurance plan is structured in order to provide a secure life cover with
extraordinary benefits aligned with commitment to give the ‘ultimate investment
plan’.
Unique Features
• Apart from normal allocation the customer receives Loyalty Units
equivalent to 51% of First Year’s Annualized Premium over a
period of 10 years.
• The investment plan gives a choice of six investment funds with
unmatched flexibility in order to manage the investments better.
• Even if the customer is not able to pay3 full years premium, the
policy continues to participate in investment performance of the
fund.
• It provides maximum flexibility in ways like an option to increase
premium, partial withdrawals anytime after three years from the
commencement of policy, provided three full years premiums are
paid, advantage of three free switches every year and an option to
pay unlimited top up premiums anytime during the tenure of the
policy to further enhance the saving of the customers.
• Option of three simple terms – 15, 20 and 25 years.
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33. • A guaranteed life cover with a flexibility to choose insurance cover
according to the changing needs.
• Many other additional rider benefits in order to provide additional
protection.
3. New Secure First
The policy provides a combination of protecting life of an individual with
attractive prospect of investing in securities.
Unique Features
• An individual can choose the funds in which he/she wishes to
invest which gives the individual an opportunity to have a direct
stake in the performance of the financial markets
• The policy gives attractive tax advantages.
• The policy provides guaranteed death benefit i.e. value of units
plus Sum Assured.
• It provides a choice of five investment funds with flexible
investment management. A customer can easily change funds at
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34. any time and can also invest in the newer funds that would be
introduced from time to time.
• It gives attractive investment alternative to fixed interest
securities.
• There is a provision for full/partial withdrawals any time after
three years from commencement if three full year’s premiums are
paid.
• The policy gives unmatched flexibility to match changing needs.
4. Future Secure
An insurance plan that gives a unique Asset Allocation Pension Fund.
The plan ensures independence to the individual and provides flexibility to
accommodate to the ever changing needs.
Unique Features
• An individual can adopt their own investment strategy by choosing
from 6 different investment funds with different fund objectives that
suits the risk profile of the customer giving him flexibility to switch
funds or invest in the newly introduced funds.
• A unique investment ‘Asset Allocation Pension Fund’ is offered
under this plan. The fund managers monitor the mix of assets in the
fund in order to maximize returns.
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35. • The policy also gives a choice of 5 other investment funds, giving
complete flexibility to switch money from one fund to another in
order to manage investments better.
• The policy continues to participate in the investment performance of
the fund even if the customer is not able to pay premium for 3 full
years.
• The policy gives two options – a pure pension plan and a pension
plan with life cover.
• It provides 4 additional rider benefits to choose from to further
enhance the risk cover.
• It gives Loyalty Units to enhance the fund value every year from the
sixth policy year.
• The policy provides an option to pay unlimited top up premiums
anytime during the tenure of the policy to further enhance the
savings.
• Provides flexibility to increase or decrease the regular premium,
change the premium apportionment, switch between funds and also
to change the premium payment mode.
35

36. 3.4 CREDIT CARDS
The Gold Card offered by Standard Chartered is not less than a credit card. It provides
special deals at various restaurants, travel benefits and many more privileges.
Unique features:-
Some of the exclusive benefits availed by a Gold Card member:
Privilege access to Airport Lounges: The Gold Card of Standard Chartered Bank
ensures the entry of its holder into exclusive airport lounges in Delhi, Chennai and
Kolkata including complimentary non-alcoholic beverages and snacks.
Global Acceptance
The Gold Card is the most widely accepted and respected credit card in over 19 million
VISA and MasterCard establishments worldwide and over 1.1 lac establishments in
India and Nepal.
Balance Transfer Option
The Gold Card helps its holders to transfer the outstanding balance from any other credit
card to the Standard Chartered global credit card at a special rate lower than the 2.95%
p.m. which is the current rate.
Revolver Facility
The revolver facility of Gold Card allows payment of just 5% of the outstanding amount
on the card every month
36

37. Cash Advance Facility
The cash advance facility provides 24-hour access to cash upto 30% of the credit limit at
850,000 ATMs worldwide and 6500 ATMs all over India.
Doorstep Facility
Convenience of facilities at the doorstep of customers. Both pick up and drop facility.
Picture Card
A picture that is close to the heart of the customer can be used to make the card as
unique as he want it to be.
Photo Card
It can be a measure to safeguard the credit card by opting for a Photo Card
Zero Lost Card Liability
In case the card is lost, the customer can avail the benefit of the Zero Lost Card Liability.
Credit Free Period
The Gold Card provides credit free period of upto 52 days.
24 hour Help-lines
A customer can use the help-lines for any queries 24/7.
Cheque collection boxes
Payments can be made on Standard Chartered Credit Card conveniently by placing the
cheques at cheque collection boxes across centers.
Airline/Railway counters
The Standard Chartered Credit Card can be used to purchase railway/airline tickets
online or at railway & airline counters and gives access to exclusive airport lounges.
37

38. Instant Buys
A customer can pay in easy installments for high value purchases on the credit cards at
attractive rates of interest.
Rewards Plus Program
One reward point is awarded on every Rs.100 spent on Standard Chartered credit card
which can be exchanged for attractive gifts.
Travel Cash Back
International air tickets which are purchased through Carlson Wagonlit/ BTI Sita gives a
special cash back offer.
38

39. 3.5 SERVICES
Going beyond assurances and promises
Service Guarantee by Standard Chartered Bank gives the power to demand the superior
service that one truly deserves. Every time a service is delayed beyond the guaranteed
time given below, a customer can claim INR 50 for each day of the delay.
The Room service Guarantee
A representative of the Standard Chartered Bank meets its customer within 24 hours of
the call.
The ATM card Guarantee
ATM card would be received within seven working days of application of the card.
The Deposit Confirmation Delivery Guarantee
For a new account, the deposit confirmation will reach the customer within five working
days of submission of the completed account opening forms to the bank.
The Cheque-book Delivery Guarantee
The cheque book will be received within seven working days of placing the request.
The Finance Against Shares Guarantee
The Setting up of overdraft limit and enhancement of the overdraft limit
within five working days of receiving the completed documents, and if the customer
wishes to enhance the limit, it will be done within three working days of receiving the
documents and dividend warrants.
39

40. 40
3.6 FINANCIAL
STATEMENT
2006 - 07

41. Financial Report
Balance Sheet as at 31 March, 2007
For the year ended For the year ended
. 31.3.2007(Rs. 000s) 31.3.2006(Rs.
000s)
_____________________________________________________
Capital & Liabilities
Capital 5,281,975 5,281,975
Reserves & Surplus 52,726,184 40,334,119
Deposits 341,740,351 284,598,056
Borrowings 63,518,196 79,167,877
Other Liab. & Provisions 125,265,063 50,164,127
______________________________________________________
Total capital & liabilities 588,531,769 459,546,154
______________________________________
Assets
Cash & Bal. with the RBI 20,035,416 14,012,047
Balances with banks 20,232,683 33,868,569
& Money at call & short notice
Investments 119,022,852 106,317,316
Advances 301,037,976 240,767,280
Fixed Assets 8,772,625 8,913,964
Other Assets 119,430,217 55,666,978
_______________________________________________________
Total assets 588,531,769 459,546,154
Contingent liabilities 8,159,001,109 3,809,554,242
______________________________________
Bills for collection 56,331,265 46,620,844
______________________________________
41

42. Profit and Loss Account as at 31 March, 2007
For the year ended For the year ended
. 31.3.2007(Rs. 000s) 31.3.2006(Rs. 000s)
_____________________________________________________
Income 40,427,830 30,563,503
Other Income 13,473,330 10,577,377
______________________________________________________
Total Income 53,901,160 41,140,880
______________________________________
Expenditure
Interest Expended 16,518,869 11,901,671
Operating Expenses 14,002,839 12,010,999
Provisions & Contingency 9,736,330 8,179,733
_______________________________________________________
Total Expenditure 40,258,038 32,092,403
_______________________________________________________
Net Profit 13,643,122 9,048,477
42

43. Significant changes:-
• For a bank one of the most important forms of liability is the amount of
deposits it has procured from the public. For Standard Chartered Bank, this
figure has shown an increase of almost 20%.
• The increase in provision is also very tremendous from 50,164,127 to
125,265,063 i.e. an increase of 150%.
• Now as far as assets are concerned the company has been able to create good
amount derivative deposits. In other words, the company utilized the amount
it collected in the form of deposits towards advances and other assets thereby
increasing the overall assets.
• Contingent liabilities have also shown a tremendous increase of
4,349,446,867 crores i.e. almost an increase of 114%.
• When we look at the income and expenditure of the company over the year,
both have shown an increase of 31% and 25% respectively increasing the net
profit of the company by almost 50%.
43

44. CHAPTER – 4
DATA ANALYSIS
AND
INTERPRETATION
44

45. 4.1
SECONDARY
DATA
ANALYSIS
45

46. Table 4.1
Comparative Analysis – Standard
Chartered Vs. Other Multinational Banks
Bank Services Standard
Chartered
ABN-
AMRO
Citibank HSBC
1. Branches 68(Metros)
& 83(India)
17(Metros)
& 19(India)
25(Metros)
& 35(India)
30(Metros)
& 39(India)
2. ATM’s 165 78 376 158
3.ATM/Debit
Card
Yes Yes Yes Yes
4.Charges for
ATM card
Rs. 200 p.a. Rs. 200 p.a. Rs. 100 p.a. Rs. 150 p.a.
5.ATM/Debit
Card access
to other
banks
Yes Yes Yes Yes
6.Charges per
transaction
from ATM’s
of other
banks
4 transaction
free/month
and then Rs.
50 per
transaction
2 transaction
free/month
and then Rs.
40 per
transaction
Rs. 50 per
transaction
Rs. 50 per
transaction
7.Locker
Facility
Yes, Rs.
2000 per
annum
Yes Yes Yes
8.Cheque
deposit boxes
Yes Yes Yes Yes
9. Global
Debit card
Yes Yes Yes Yes
10. Global
Credit card
Yes Yes Yes Yes
11.Average
banking hrs
10 AM – 7
PM
10 AM – 7
PM
10 AM – 2
PM
9 AM – 4
PM
12. Sunday
46

47. Banking Yes Yes Yes No
13.Minimun
Balance
Saving
10,000 10,000 10,000 10,000
14. Charges
for non-
maintenance
of min.
balance
Rs. 750 per
quarter
Rs 200 to Rs
1800 per
month
Rs 250 per
month
Rs 300 per
quarter
15.Cash
Withdrawal
per day
25,000 25,000 –
1,00,000
50,000 25,000
16. Cash
transaction
from non-
branch
Yes Yes Yes Yes
17.Statement
charges
Free Free Free Free
18. 24 hours
branch
Yes No No No
19. 365 days
branch
Yes Yes Yes No
20.Automated
cheque
reorder
Yes No No Yes
21. Multicity
Branch
banking
Yes Yes Yes Yes
22. National
clearing
Yes Yes(3-5
days)
Yes(7-15
days)
Yes
23. Speed
Clearing
Yes Yes Yes Yes
24. Net
Banking
Yes Yes Yes Yes
25. Mobile
Banking
Yes Yes Yes Yes
26.Phone
Banking
Yes Yes Yes Yes
27. DMAT Yes Yes Yes Yes
47

48. 28.Priority
Banking
Yes Yes Yes Yes
29.Flexibility
of Interest
Rates
Yes No No Yes
30.Door step
Banking
Yes Yes Yes Yes
31. Cash
Delivery
Yes(charged) Up to 1 lakh
free & above
charged
Yes(charged) Yes(charged)
32. Cash pick
up
Yes(charged) Yes(charged) Yes(charged) Yes(charged)
33. Cheque
pick up
Yes Yes Yes Yes
Explanation :
1. Most of the branches of Multinational banks are concentrated in the metros. The
branches of Standard Chartered bank are comparatively more than ABN Amro, Citi
bank and HSBC bank. But ATMs of Citi bank are higher.
2. Almost every bank provides ATM cards to their customers to make banking more
easier. Customers do not have to visit the banks for deposits and withdrawals. ATM
service can be accessed through other banks as well. Few banks provide this facility
free of cost while others have charges for it. All the banks mentioned above have
their respective charges.
3. Locker facility is chargeable under Standard Chartered bank at Rs. 2000 p.a. but in
other banks this facility is offered free of cost.
4. Banking hours of the banks are almost the same. Branches are open even on
Sundays and Standard Chartered bank provides 24 hours banking to its customers.
48

49. 5. The Average Quarterly Balance is Rs. 10,000 for all the four banks. If the customer
is not maintaining this minimum balance there are charges for non maintenance.
6. Bank statements are available free of cost.
7. Cash withdrawal per day for Standard Chartered bank is the lowest at Rs.25,000
while for ABN Amro it is the highest and ranges from Rs. 25,000 to Rs. 1,00,000.
8. Doorstep banking is a new facility which was first introduced by Standard
Chartered bank and is now used by almost every bank. Banks have their respective
pickup and drop charges.
9. Multibranch banking, phone banking, mobile banking, internet banking, national
clearing and speed clearing facilities are provided by all the four banks.
10. Priority banking includes customers of high value and is provided by every bank
these days.
49

50. Table 4.2
Comparative Analysis – Standard
Chartered Vs. New Private Sector Banks
Bank ICICI HDFC AXIS IDBI
Services
1. Branches 158(Metros)
& 508(India)
194(Metros)
& 446(India)
96(Metros)
& 247(India)
43(Metros)
& 120(India)
2. ATM’s 1910 1147 1599 329
3.ATM/Debit
Card
Yes Yes Yes Yes
4.Charges for
ATM card
Rs. 99 p.a. Rs. 100 p.a. Rs. 150 p.a. Rs. 100 p.a.
5.ATM/Debit
Card access
to other
banks
Yes Yes Yes Yes
6.Charges per
transaction
from ATM’s
of other
banks
Rs. 50 per
transaction
Rs. 50-100
per
transaction
Rs. 50 per
transaction
Rs. 50 per
transaction
7.Locker
Facility
Yes, Rs. 750
per annum
Yes Yes Yes
8.Cheque
deposit boxes
Yes Yes Yes Yes
9. Global
Debit card
Yes Yes Yes Yes
10. Global
Credit card
Yes Yes Yes Yes
11.Average
banking hrs
9 AM – 4
PM
10 AM – 4
PM
10 AM – 4
PM
10 AM – 4
PM
12. Sunday
Banking
No Yes No No
13.Minimun 5,000 5,000 5,000 5,000
50

51. Balance
Saving
14. Charges
for non-
maintenance
of min.
balance
Rs. 300 per
quarter
Rs 150 to Rs
500 per
month
Rs 200 per
month
Rs 100 per
quarter
15.Cash
Withdrawal
per day
15,000 15,000 20,000 25,000
16. Cash
transaction
from non-
branch
Yes Yes( Up to
1,00,000)
Yes(Up to
1,50,000)
Yes(Up to
50,000)
17.Statement
charges
Free Free Free Free
18. 24 hours
branch
No No No No
19. 365 days
branch
No No No No
20.Automated
cheque
reorder
No No No No
21. Multicity
Branch
banking
Yes Yes Yes(selected
cities)
Yes
22. National
clearing
Yes Yes Yes Yes
23. Speed
Clearing
Yes Yes Yes Yes
24. Net
Banking
Yes Yes Yes Yes
25. Mobile
Banking
Yes Yes Yes Yes
26.Phone
Banking
Yes Yes Yes Yes
27. DMAT Yes Yes Yes No
28.Priority Yes Yes Yes Yes
51

52. Banking
29.Flexibility
of Interest
Rates
Yes Yes Yes Yes
30.Door step
Banking
Yes Yes Yes (for
selected
customers)
Yes(for
selected
customers)
31. Cash
Delivery
Yes(charged) Yes(charged) Yes(charged) Yes(charged)
32. Cash pick
up
Yes(charged) Yes(charged) Yes(charged) Yes(charged)
33. Cheque
pick up
Free once a
month
Yes(charged) Yes(charged) Yes(charged)
Explanation :
1. The branches of private sector banks are spread all over India and is not
concentrated only in the metro cities.
2. The number of ATMs of private sector banks are comparatively high than that of
multinational banks. Banks have charges for the ATM cards and ATM services of
other banks can be accessed by paying an amount.
3. Locker facility is provided by all the banks. Its chargeable under ICICI bank but is
provided free of cost by the remaining banks.
4. Banking hours of all the four banks are almost the same. No 24 hours banking is
provided by any of the banks and only HDFC bank provides banking on Sundays.
5. Minimum balance for saving account for all the banks are Rs.5,000 and there is a
charge for non- maintenance of this balance.
6. Cash transaction from other banks can be done by customers of all the four banks.
52

53. 7. National clearing, speed clearing, mobile banking, phone banking, internet banking
and Multicity branch banking is provided by all the banks. But AXIS bank has
Multicity branch banking facility only in selected cities.
8. Priority banking is available under all the banks.
9. Doorstep banking is provided by all the banks but AXIS and IDBI provide this
facility only to priority banking customers. All the banks have charges for cash pick
up, cheque pick up and cash delivery.
53

54. 4.2 PRIMARY
DATA
ANALYSIS
54

55. DEMOGRAPHIC ATTRIBUTIONS
Age
Table 4.3
Age
15 15.0 15.0 15.0
26 26.0 26.0 41.0
40 40.0 40.0 81.0
19 19.0 19.0 100.0
100 100.0 100.0
Below 20 years
Between 20 and 40 years
Between 40 and 60 years
Above 60 years
Total
Valid
Frequency Percent Valid Percent
Cumulative
Percent
Figure 4.1
15%
26%
40%
19%
Below 20 years
Between 20 and 40 years
Between 40 and 60 years
Above 60 years
From the above analysis, I can analyze that normally people in the age group 20-60
maintain their relations with multinational or private sector banks. While, people in the
age group of below 20 years and above 60 years are somewhat indifferent.
55

56. Occupation
Table 4.4
Occupation
13 13.0 13.0 13.0
47 47.0 47.0 60.0
36 36.0 36.0 96.0
4 4.0 4.0 100.0
100 100.0 100.0
Student
Service
Business
Others
Total
Valid
Frequency Percent Valid Percent
Cumulative
Percent
Figure 4.2
13%
47%
36%
4%
Student
Service
Business
Others
From the above figure, we can analyze that the major proportion of the customers of the
Multinational banks and the Private sector banks are from the service class and the
business class. So the potential market segment of the customers of the various banks
comprises of the service and the business class.
56

57. Annual Income
Table 4.5
Annual Income
13 13.0 13.0 13.0
11 11.0 11.0 24.0
44 44.0 44.0 68.0
32 32.0 32.0 100.0
100 100.0 100.0
Dependant
Below 2 Lakh
Between 2-5 Lakh
Above 5 Lakh
Total
Valid
Frequency Percent Valid Percent
Cumulative
Percent
Figure 4.3
13%
11%
44%
32%
Dependent
Below 2 lakh
Between 2-5 lakh
Above 5lakh
From the above results, it can be analyzed that people whose income is above two lakhs
normally go for relations with multinational banks or some private sector banks. While
people who are dependent prefer Public sector banks.
57

58. Factors Affecting the banking habits of people
The banking habits were studied on the basis of six features included in the
questionnaire. The respondents were asked to rate each of these features on a scale of
five factors namely lowest, low, average, high and highest. The following results were
obtained for each of these factors:
1. Location
Table 4.6
Location
11 11.0 11.0 11.0
50 50.0 50.0 61.0
39 39.0 39.0 100.0
100 100.0 100.0
Average
High
Highest
Total
Valid
Frequency Percent Valid Percent
Cumulative
Percent
Figure 4.4
11
50
39
0
10
20
30
40
50
Average High Highest
Location
From the above figure, it can be said that people normally rated the factor “Location” as
high. Thus it can be concluded that location is one of the most important factor for
people while choosing a particular bank.
58

59. 2. Ambience
Table 4.7
Ambience
3 3.0 3.0 3.0
8 8.0 8.0 11.0
51 51.0 51.0 62.0
34 34.0 34.0 96.0
4 4.0 4.0 100.0
100 100.0 100.0
Lowest
Low
Average
High
Highest
Total
Valid
Frequency Percent Valid Percent
Cumulative
Percent
Figure 4.5
3
8
51
34
4
0
10
20
30
40
50
60
Lowest Low Average High Highest
Ambience
From the above figure, it is pretty clear that people rate the factor “ambience” as average
or high. The reason behind rating this factor as normally average is that people told that
they hardly have the time to go to the bank. Though, it does have an effect on people but
is not of much importance to them so they rated it as average.
59

60. 3. Timings
Table 4.8
Timings
1 1.0 1.0 1.0
4 4.0 4.0 5.0
58 58.0 58.0 63.0
36 36.0 36.0 99.0
1 1.0 1.0 100.0
100 100.0 100.0
Lowest
Low
Average
High
Highest
Total
Valid
Frequency Percent Valid Percent
Cumulative
Percent
Figure 4.6
1
4
58
36
1
0
10
20
30
40
50
60
Lowest Low Average High Highest
Timings
From the above figure, it is evident that the factor “timings” is rated as average by
people. Many people rated this factor as average because they think that all the banks
have the same timings. Therefore it is not of much importance to people while choosing
particular bank.
60

61. 4. Products Offered
Table 4.9
Product Offered
17 17.0 17.0 17.0
64 64.0 64.0 81.0
17 17.0 17.0 98.0
2 2.0 2.0 100.0
100 100.0 100.0
Low
Average
High
Highest
Total
Valid
Frequency Percent Valid Percent
Cumulative
Percent
Figure 4.7
17
64
17
2
0
10
20
30
40
50
60
70
Low Average High Highest
Products offered
From the above figure, it is evident that the factor “products offered” is rated as average
by people. Many people rated this factor as average because they think that all the banks
offer the same kind of products. Therefore it is not of much importance to people while
choosing particular bank.
61

62. 5. Information
Table 4.10
Information
15 15.0 15.0 15.0
74 74.0 74.0 89.0
11 11.0 11.0 100.0
100 100.0 100.0
Average
High
Highest
Total
Valid
Frequency Percent Valid Percent
Cumulative
Percent
Figure 4.8
15
74
11
0
10
20
30
40
50
60
70
80
Average High Highest
Information
Most of the respondents rated this factor as high. The reason behind such rating was that
most of the respondents felt that they were not provided with the right information about
62

63. the products. So they wanted that they should be provided with the right information and
should not be deceived.
6. Service
Table 4.11
Service
1 1.0 1.0 1.0
40 40.0 40.0 41.0
59 59.0 59.0 100.0
100 100.0 100.0
Average
High
Highest
Total
Valid
Frequency Percent Valid Percent
Cumulative
Percent
Figure 4.9
1
40
59
0
10
20
30
40
50
60
Average High Highest
Service
This factor was rated by the respondents as the highest. Almost every respondent rated
“Service” as highest because they felt that once they use any product of a bank then the
services which are provided along with the product effect the relationship of the
63

64. customers with that particular bank. On the basis of the results obtained from the survey
it can be clearly stated that “Service” is the most important criteria for choosing a bank.
Rating of Banks
1. Multi-national Banks
Standard Chartered Bank
Table 4.12
Standard Chartered
3 3.0 3.0 3.0
32 32.0 32.0 35.0
50 50.0 50.0 85.0
15 15.0 15.0 100.0
100 100.0 100.0
Low
Average
High
Highest
Total
Valid
Frequency Percent Valid Percent
Cumulative
Percent
Figure 4.10
3
32
50
15
0
5
10
15
20
25
30
35
40
45
50
Low Average High Highest
Standard Chartered Bank
64

65. Standard Chartered Bank is normally rated by people as “high” which means that people
keep a good opinion about Standard Chartered Bank.
ABN Amro
Table 4.13
ABN Amro
38 38.0 38.0 38.0
60 60.0 60.0 98.0
2 2.0 2.0 100.0
100 100.0 100.0
Average
High
Highest
Total
Valid
Frequency Percent Valid Percent
Cumulative
Percent
Figure 4.11
38
60
2
0
10
20
30
40
50
60
Average High Highest
ABN Amro
From the above data it can be stated that ABN - Amro also has a good reputation among
multinational banks as it has been rated by most of the respondents as an above average
bank.
65

66. Citibank
Table 4.14
Citibank
30 30.0 30.0 30.0
66 66.0 66.0 96.0
4 4.0 4.0 100.0
100 100.0 100.0
Average
High
Highest
Total
Valid
Frequency Percent Valid Percent
Cumulative
Percent
Figure 4.12
30
66
4
0
10
20
30
40
50
60
70
Average High Highest
Citi Bank
Citibank has also been rated as an above average bank by the respondents. People feel
that Citibank is providing good facilities along with the products it offers.
66

67. HSBC
Table 4.15
HSBC
6 6.0 6.0 6.0
71 71.0 71.0 77.0
23 23.0 23.0 100.0
100 100.0 100.0
Average
High
Highest
Total
Valid
Frequency Percent Valid Percent
Cumulative
Percent
Figure 4.13
6
71
23
0
10
20
30
40
50
60
70
80
Average High Highest
HSBC
67

68. From the above data, it is evident that HSBC is the best rated bank among all
multinational banks in India. The respondents who had their relationship with HSBC
were very much satisfied with the services provided by HSBC.
Private Sector Banks
ICICI Bank
Table 4.16
ICICI
2 2.0 2.0 2.0
72 72.0 72.0 74.0
25 25.0 25.0 99.0
1 1.0 1.0 100.0
100 100.0 100.0
Low
Average
High
Highest
Total
Valid
Frequency Percent Valid Percent
Cumulative
Percent
Figure 4.14
2
72
25
1
0
10
20
30
40
50
60
70
80
Low Average High Highest
ICICI
ICICI was rated as an above average bank when compared with the multinational banks
and the new private players in this industry. Some respondents had a good experience
68

69. with ICICI and were satisfied with the facilities and services provided by them while
some were not satisfied with ICICI. So there was a mixed opinion about ICICI.
HDFC
Table 4.17
HDFC
6 6.0 6.0 6.0
67 67.0 67.0 73.0
27 27.0 27.0 100.0
100 100.0 100.0
Low
Average
High
Total
Valid
Frequency Percent Valid Percent
Cumulative
Percent
Figure 4.15
6
67
27
0
10
20
30
40
50
60
70
Low Average High
HDFC
From the above data obtained it can be analyzed that HDFC was rated as an average
bank by most of the respondents. The reason behind such ratings was that people were
not satisfied with the services provided by HDFC. Some had faced the problem because
69

70. of non availability of third party transactions while some were tired of a long queue
outside its ATM machines.
IDBI
Table 4.18
IDBI
1 1.0 1.0 1.0
19 19.0 19.0 20.0
76 76.0 76.0 96.0
4 4.0 4.0 100.0
100 100.0 100.0
Lowest
Low
Average
High
Total
Valid
Frequency Percent Valid Percent
Cumulative
Percent
Figure 4.16
1
19
76
4
0
10
20
30
40
50
60
70
80
Lowest Low Average High
East
70

71. IDBI was also rated as an average bank by most of the respondents. Although a very few
had maintained relationships with IDBI but even these few were not satisfied with the
services and other facilities provided by IDBI.
For Standard Chartered Bank Only
Products Offered
Saving Account
Table 4.19
Saving Acc
45 45.0 45.0 45.0
55 55.0 55.0 100.0
100 100.0 100.0
Yes
No
Total
Valid
Frequency Percent Valid Percent
Cumulative
Percent
Figure 4.17
45
55
0
20
40
60
Yes No
Saving Account
71

72. From the survey, I analyzed that people who had relations with Standard Chartered Bank
preferred to have their saving account with Standard Chartered Bank.
Current Account
Table 4.20
Current Acc
7 7.0 7.0 7.0
93 93.0 93.0 100.0
100 100.0 100.0
Yes
No
Total
Valid
Frequency Percent Valid Percent
Cumulative
Percent
Figure 4.18
7
93
0
10
20
30
40
50
60
70
80
90
100
Yes No
Current
Account
72

73. From the above data it can be easily interpreted that a very few of those people who
were maintaining relationship with Standard Chartered Bank had their Current account
in Standard Chartered bank. So it can be said that people were not much interested in
having their Current Account with Standard Chartered Bank.
Term Deposits
Table 4.21
Term Deposits
1 1.0 1.0 1.0
99 99.0 99.0 100.0
100 100.0 100.0
Yes
No
Total
Valid
Frequency Percent Valid Percent
Cumulative
Percent
Figure 4.19
1
99
0
20
40
60
80
100
120
Yes No
Term Deposit
From the above figures it is pretty clear that “Term Deposits” of Standard Chartered
Bank is not a very popular product . Therefore Standard Chartered will have to make this
product more attractive to attract more customers.
73

74. Credit Cards
Table 4.22
Credit Cards
21 21.0 21.0 21.0
79 79.0 79.0 100.0
100 100.0 100.0
Yes
No
Total
Valid
Frequency Percent Valid Percent
Cumulative
Percent
Figure 4.20
21
79
0
10
20
30
40
50
60
70
80
90
Yes No
Credit Cards
While conducting my market survey I found that people were not satisfied with this
product of Standard Chartered Bank. Instead they wanted to discontinue with this
74

75. product as they felt that they were deceived. This was because they were not provided
with the right information about how to use the product.
Satisfaction
Table 4.23
satisfaction
33 33.0 33.0 33.0
16 16.0 16.0 49.0
51 51.0 51.0 100.0
100 100.0 100.0
Yes
No
Not applicable
Total
Valid
Frequency Percent Valid Percent
Cumulative
Percent
Figure 4.21
33
16
51
0
10
20
30
40
50
60
Yes No Not
Applicable
Satisfaction
From the above data it can be interpreted that people who had their relations with
Standard Chartered Bank were pretty much satisfied with Standard Chartered Bank. A
majority of the people who were not satisfied with Standard Chartered were those people
who were using the credit card of Standard Chartered Bank.
75

76. Annual Income/Standard Chartered Bank
Table 4.24
Annual Income * Standard Chartered Crosstabulation
Count
5 6 2 13
6 4 1 11
2 15 24 3 44
1 6 16 9 32
3 32 50 15 100
Dependant
Below 2 Lakh
Between 2-5 Lakh
Above 5 Lakh
Annual
Income
Total
Low Average High Highest
Standard Chartered
Total
Figure 4.22
5
6
2
6
4
1
2
15
24
16
1
6
16
9
0%
20%
40%
60%
80%
100%
Dependent Below 2 lakh Between 2- 5
lakh
Above 5 lakh
Highest
High
Average
Low
The above table which shows the rating of people in different income group shows that
people whose income is above two lakhs rated Standard Chartered as “high” which
means that they were pretty much satisfied with Standard Chartered Bank.
76

77. Occupation/Service
Table 4.25
Occupation * Service Crosstabulation
Count
5 8 13
1 25 21 47
10 26 36
4 4
1 40 59 100
Student
Service
Business
Others
Occupation
Total
Average High Highest
Service
Total
Figure 4.23
5
8
1
25
21
10
26
4
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Student Service Business Others
Highest
High
Average
The above data shows that the factor “service” was very important for the business class
and the service class people. They wanted that service should be up to the mark and they
should not face any problems because it leads to irritation.
77

78. 78
4.3 SWOT
ANALYSIS

79. SWOT ANALYSIS
Strengths
1. Diversity, resilience and flexibility.
2. Multinational Bank with a good financial backup from the UK.
3. Quality service is assured if one has a banking relationship with Standard
Chartered Bank
4. Four free transactions from ATMs of any bank plus unlimited access to ATMs of
Standard Chartered Bank across the country in a month.
5. Good infrastructure & good incentives for the result oriented employees.
6. Large number of branches in Metros.
7. Strong sales team who are recruited through tough interviews.
Weakness
1. Number of Standard Chartered ATMs is less than its close competitors.
2. Average quarterly balance is comparatively higher than most of its competitors.
79

80. 3. Penalties are higher for non-maintenance of average quarterly balance, cheque
bouncing, etc.
4. Bank charges are high (Demand draft, pay order charges).
5. Customer of middle income group hesitates to start a relationship with Standard
Chartered Bank.
Opportunity
1. Explore the market with Parivaar account.
2. Lot of scope for product variation.
3. Tap the middle income group and the salaried class.
4. Lot of scope for growth in the Indian market.
Threat
1. ATM infrastructure of its competitors.
2. Players have similar strategies.
3. There is not much differentiation between the services and products of other
banks.
80

81. CHAPTER – 5
FINDINGS,
RECOMMENDATIO
NS AND
CONCLUSION
81

82. 5.1 FINDINGS
Findings from secondary data:-
Multinational Banks
• The number of branches of Standard Chartered bank are the highest among all the
multinational banks surveyed. It has 68 branches in metro and 83 all over in India.
While the number of ATMs of Citi bank is highest at 376.
• All the banks provide ATM cards while there are some charges for it. For Standard
Chartered bank it is Rs. 200 p.a., for ABN Amro it is Rs. 200 p.a., for Citi bank it is
Rs. 100 p.a. and for HSBC it is Rs. 150 p.a.
• The customers of these banks have the facility to access the ATMs of other banks but
have to pay the following charges – For Standard Chartered customers it is free for
first 4 transactions in a month and then the charges are Rs. 50 per transaction. For
ABN Amro customers, it is free for first 2 transactions in a month and then the
charges are Rs. 40 per transaction. For Citi bank and HSBC customers the charges
are Rs. 50 per transaction.
• All the banks provide locker facility. Standard Chartered bank charges Rs. 2000 p.a.
while other banks offer this facility free of cost.
• The bank timings of all the banks are almost the same. Except for HSBC, all the
three banks provide Sunday banking as well. Standard Chartered bank provide 24
hours banking also.
• The minimum balance for the savings account is Rs. 10,000 and if the customer does
not maintain this minimum balance, he has to bear some charges. For Standard
Chartered customers it is Rs. 750 per quarter, for ABN Amro customers, it is Rs.200
to Rs.1800 per month, for Citi bank customers, it is Rs.250 per month and for that of
HSBC customers, it is Rs. 300 per Quarter.
82

83. • Cash withdrawal per day for Standard Chartered bank is Rs.25,000, for ABN Amro
Rs.25000- Rs.1,00,000, for Citi bank Rs.50,000 and for HSBC Rs.25,000.
• Cash transaction from non-branch is provided by all the banks.
• Multicity branch banking, national clearing, speed clearing, phone banking, internet
banking, mobile banking, priority banking and DMAT facility is provided by all the
banks.
• Doorstep banking which was first introduced by Standard Chartered bank is provided
by all the banks now. Banks have there different charges for cheque pick up, cash
pickup and cash delivery depending upon the amount.
Private Sector banks
• The number of branches of HDFC in metro cities is the highest at 194 and all over
India, ICICI has maximum number of branches and ATMs at 508 and 1910
respectively.
• All the banks provide ATM cards but have their respective charges such as for ICICI
Rs. 99 p.a., for HDFC Rs. 100 p.a., for AXIS Rs. 150 p.a. and for IDBI Rs.100 p.a.
• The customers can has the advantage of accessing other banks ATMs also but they
have to bear some charges. For ICICI the charges are Rs.50 per transaction, for
HDFC Rs.50- Rs.100 per transaction, for AXIS and IDBI Rs.50 per transaction.
• Locker facility is available with all the banks. ICICI has a charge of Rs. 750 p.a.
while other banks provide this facility for free.
• Bank timings of all the banks are almost the same. HDFC provides Sunday banking
but 2 hours banking is not provided by any of the banks.
• The average balance of saving account is Rs.5000 and in case of non- maintenance
of this balance, the customer is charged. For ICICI the charges are Rs.300 per
quarter, for HDFC it is Rs.150 – Rs. 500 per month, for AXIS it is Rs. 200 per month
and for IDBI it is Rs. 100 per quarter.
• The cash withdrawal per day for ICICI customers are Rs.15,000, for HDFC is Rs.
15,000, for AXIS is Rs. 20,000 and for IDBI is Rs. 25,000.
83

84. • All the banks provide facilities like Multicity branch banking, phone banking,
internet banking, mobile banking, national clearing, speed clearing and priority
banking.
• DMAT facility is provided by all the banks except IDBI.
• Doorstep banking is provided by all the banks but AXIS and IDBI provide this
facility only to its priority customers. Banks have their own charges for cash pickup,
cheque pickup and cash delivery.
Findings from primary data:-
When we consider the demographic factors, the following are the findings:-
• People falling under the age group of 20 years to 60 years constitute the major
proportion of customers of Multinational banks and private sector banks. The
percentage is 66.
• The customers of Multinational banks and private sector banks are basically from
service class which constitute 47 percentage and business class which constitute
36 percentage.
• The majority customers of multinational and private sector banks have their
annual income above 2 lakhs and they form 76 percentage of the people
surveyed.
When we consider the factors affecting banking habits of people, these are the findings:-
• People rated location as an important factor. 89 percentage of the population
surveyed were in favour of this.
84

85. • Only 51 percentage people said that ambience is an important factor in selecting
a bank while others believe that this factor does not really matter much as they
hardly have to visit bank.
• Timings is again not considered as an important factor as people believe that
almost every bank has the same timing. 58 percentage people supported this
factor.
• Same is the case with the products offered. People say that almost every bank
offer same type of products so only 64 percentage people rated this as an
important factor.
• Information was rated as an important factor as people believe that they should
have the right information about the products and services that the banks offer.
• Service is the highest rated factor. 99 percenatge of the people say that the kind
of service the bank offers influences their decision to select a bank to a great
extent.
When we consider the rating of banks both multinational an private sector bank, these
are the views of the customers:-
Multinational banks
• HSBC is the most rated bank among all the multinational banks and the
customers are very much satisfied with the services provided by the bank. 94
percentage of the people are satisfied with the services of this bank.
• People rated Standard Chartered bank, ABN Amro and Citi bank as above
average which means people form good opinion about these three banks and
people in favour of these three banks formed 65 percentage ,62 percentage and
70 percentage of the population surveyed. Customers of these banks are satisfied.
Private sector banks
85

86. • Customers carry a mixed response about the services provided by ICICI bank
and 72 percentage of the people are in favour of the bank.
• Customers of HDFC bank are not satisfied with the bank as they say they have to
wait in long queue and there is non availability of 3rd
party. 67 percentage people
rated it as an average bank.
• IDBI does not have much customers and moreover its customers are not satisfied
with the services of the bank. 76 percentage people rated it as an average bank.
Services provided by Standard Chartered bank and customer satisfaction:-
• Customers holding savings account in this bank are very much satisfied and form
45 percentage of the people.
• But customers of current account, term deposit and credit cards are very
dissatisfied. Customers satisfied with these products constitute only 7 percenatge,
1 percentage and 21 percentage respectively of the population.
• When the total population is considered, people who are already Standard
Chartered customers, among them 67 percentage people are satisfied with the
products and services of the bank while others are dissatisfied and this
dissatisfied customer constitute basically customers of credit cards.
86

87. 5.2 RECOMMENDATIONS
These are few recommendations which can help Standard Chartered Bank to stay ahead
in the competition.
 Brand building: Standard Chartered needs to build a good brand image by
providing innovative products and top class services accordingly with their
products.
 Improve its Services: There are many people who were not too much
satisfied with the services provided by Standard Chartered Bank. The
services provided by the other multinational banks in India are much better
as compared with Standard Chartered, therefore Standard Chartered
strongly needs to improve its services in order to compete with the other
multinational and private sector banks in India.
 Standard Chartered Bank should install a number of offsite ATMs to make
its presence felt in area where it has low or no presence at all.
 Understand challenges that Standard Chartered Bank is facing from the
competition and also analyze and understand the future prospects and use it
87

88. to understand the opportunities and threats facing the business and the
factors driving success.
 Get insight into performing better in the market.
 Pinpoint growth sectors and identify factors driving change.
 Identify market and brand leaders and understand the competitive
environment.
 Identify the needs of the various segments of its consumers: For example, a
senior citizen might opt for a higher-cost MNC bank simply because it
offers free home pick-up and delivery of even small-value cheques. A
businessman would like a bank that offers a sweep facility.
Recommendations – Credit Cards
Unmet Needs
It includes some benefits which are not currently being offered by the credit card
industry and hence becomes an opportunity.
Need for a customized Card for Internet transactions:
Business is rapidly growing over the Internet so there exists a great need for a card that
is suitable for transacting safely and conveniently over the Internet. The growing number
of Internet users will provide a lucrative market for this product.
Need for ‘Premium’ benefits:
Even though the premium segment includes credit cards, there is a dearth of ‘premium’
benefits under it. An example of these are Special airport Lounges. These benefits are
88

89. available to the Indian consumer only when he goes abroad, but when he is in India, he
doesn’t get all the extra ‘premium’ benefits which are associated with Premium cards.
Proliferation of ATMs:
The credit card can be used by a customer to withdraw cash from an ATM. This
revolving credit facility also turns out to be a major revenue earner for the issuing bank
(interest charges range from 1.99 % to 3 % per month). There are many ATMs in the
metros but only a few in most non-metro cities. The lack of the ATMs doesn’t allow the
credit card to be used to its potential.
5.3 CONCLUSION
Service with a smile: in today’s banking sector, a customer will settle for nothing less.
He realizes, somewhat belatedly, that he is a king. He demands from banks not just
world-class products and services, but a red carpet as well. His choice of one entity over
another as his principal bank is determined by considering service quality rather than any
other factor. He wants competitive loan rates on one hand and on the other he also wants
his loan or credit card application processed in double-quick time. He insists to be
promptly informed of changes in deposit rates and service charges, and he bristles with
‘customer rights’ if his bank is slow to redress any grievance he may have. He cherishes
the convenience of impersonal internet banking, but he wants that when he is on a visit
to the branch, he has full comfort of personalized behavior with human interactions and
facilities that make his banking experience pleasurable. In short, he wants a financial
house that will not just clear his cheques and update his passbook but that the bank cares
and for more than just as a customer. Therefore, he wants a customer-friendly bank.
Service Quality
89

90. The overall service standards of a bank is what makes a bank customer-friendly and is
rated for ease of opening an account, how courteous, accessible and knowledgeable its
staffs are, transaction time taken for services, how innovative the bank is in introducing
new products and services, how proactively the bank informs customers about the
changes in deposit rates or service charges, how quickly it redresses grievances of its
customers, how likely it is to retain customers, and how probable it is that its customers
will recommend the bank to others.
Branch Facilities
Any branch of a multinational or leading Indian private bank is no less than a plush
country club. While many other banks, of course, have miles to go in this sphere, but
there is a growing realizations among them that offering a
pleasant banking ambience with comfortable seating, air-conditioning, restroom and
drinking water facilities and easy access to bank stationery makes a good business.
ATM Service
ATM Service has automated the most common day-to-day banking transactions like
cash withdrawal, cheque deposits and statement generation and has liberated customers
from time wasting branch visits and surly staff.
Banks are increasingly waking up to the merits of an expansive, glitch-free ATM
network. Banks are investing highly in technology (read newer machines), so they’ll be
fewer card rejects. And they’re entering into tie-ups with one another in order to share
their ATM network (for a nominal fee which the customer has to pay); which means the
customer no longer has to bear the agony of having to stand in overlong queues at the
bank’s ATMs.
90

91. Market Potential
With a growing national economy, the financial-sector reforms and a growing middle
class group, the Indian market offers huge potential for Standard Chartered Bank to
grow and expand. The large and growing middle class population and increase in
disposable incomes have created booming markets for housing, motor, televisions,
computers, mobile phones and many other products, most of which require financing.
SCB has been very effective in grasping this opportunity with its product and service
offerings.
The Road Ahead…for SCB
After offering its 150 years of service to India, Standard Chartered Bank continues to be
committed to the country and optimistic in contributing to the Indian Financial Sector.
The Standard Chartered Group considers India as one of its greatest economic
opportunity in the 21st century and is proud to be so strongly positioned here. The Bank
has striving plans to transform its business in the country in the future and plans to
further expand its operations across the country
91

92. APPENDIX
92

93. QUESTIONNAIRE
1. Your criteria for choosing a particular bank:
(Please tick the appropriate box, 1- lowest 2 -low 3- average 4 – high
and 5 the highest)
Rating Scale
Features
1 2 3 4 5
1. Location
2. Ambience
3. Timings
4. Products
Offered
5. Clarity of
Information
6. Service
2. Rate the following banks on a scale of 1 to 5 of satisfaction level.
(Please tick the appropriate box, 1 being the lowest and 5 the highest)
Rating Scale
1 2 3 4 5
93

94. Bank
1.Standard
Chartered
2. Citibank
3. ABN Amro
4. HSBC
5. HDFC
6. ICICI
7.IDBI
3. Any other facilities not provided by your current bank?
__________________________________________________________
4. Do you have relationships with other banks, if yes, please specify
(a) Standard chartered Bank (b) ABN AMRO
(c) HSBC (d) Citibank
(e) HDFC (f) ICICI
(g) IDBI (h)
Others…………………………………...
5. Type of services availed in the above mentioned bank.
Bank
Services
SCB ABN
AMRO
HSBC Citibank HDFC ICICI IDBI
1.Saving
A/c
2.Current
A/c
3, Term
Deposit
4. Credit
cards
5. Loans
6.Insuranc
94

95. e
7. Locker
For Standard Chartered Customers only
1. What facilities are you availing in Standard Chartered Bank?
a) Saving A/c
b) Current A/c
c) Term Deposits
d) Credit cards
e) Loans
f) Insurance
g) Locker
h) Others
………………………………………………………..
2. Are you happy with the current services and products being offered at
Standard Chartered Bank?
a) Yes b) No
3. How many times do you use ATM’s in a month?
a) 1-4 times b) 5-10 times
c) more than 10 times d) Never
Personal Details
1.Name __________________________________________________
2. Age
a) Below 20 years b) 20 – 40 years
c). 40 – 60 years d) Above 60 years
95

96. 3. Sex
a) Male b) Female
4. Marital Status
a) Married
b) Single
5. Occupation
a) Student b) Service
c) Business d) Others
______________________
6. Annual Income
a) Below Rs 2, 00,000 p.a.
b) Between Rs 2, 00,000 & 5, 00,000
c) Above 5, 00,000
7. Contact Number/Email _______________________
96

97. BIBLIOGRAPHY
1. Internet Sites
• www.google.com
• www.economictimes.com
• www.standardchartered.co.in
• www.hsbc.com
• www.abnamro.com
• www.hdfcbank.com
• www.icicibankom
• www.indiainfoline.com
97

98. 2. Magazines and Newspapers.
• Economic Times
• Business India
• Business Standard
• The Times Of India
3. Books
• Name of the author - Philip Kotler, Name of the book – Principles of
Marketing, Publisher – Asoke K. Ghosh, Year - 2006
• Name of the author – Naresh K. Malhotra, Name of the book -
Marketing Research, Publisher – Asoke K. Ghosh, Year - 2007
4. Product Manual, Standard Chartered Bank
98

99. 99