COMPARATIVE ANALYSIS

of accounts of KOTAK
MAHINDRA BANK with
other renowned
private banks in
Lucknow region.

Submitted To: Submitted By:

Mr. Mudit Srivastava Aastha Bora
Branch Sales Manager BBA (2007-2010)
Kotak Mahindra bank Amity University

1
2
 ACKNOWLEDGEMENT

I would like to acknowledge certain people who acted as guides, friends

and torch bearers along the way and without whose help I would have not
been able to complete this journey. I would like to express my deepest
and sincere thanks to my company guide Mr. Mudit Srivastava Branch
Sales Manager, KOTAK MAHINDRA BANK, LUCKNOW, Mr.
Darpan Srivastava Area Sales Manager, Kotak and my mentor Ms. Esha
Mittal for their valuable guidance and help.The project could not have
been completed without their support. Thanking them is only a small
gesture for the generosity shown.
I would also like to thank Mr. Asif Khan, Ms. Rashi Nigam
and the other staff members of KOTAK MAHINDRA BANK, for
cooperating with me at every stage of the project. They guided me in
opening the accounts of the customers by giving their valuable time to
me. They acted as a continuous source of inspiration and motivated me
through out the duration of the project helping me a lot in completing this
project. I am also very thankful to all those who are directly or indirectly
related for the successful completion of my project.

3
 EXECTUIVE SUMMARY

The project studies the accounts of Kotak Mahindra Bank

Limited and selling of these accounts to potential and existing customers
in Lucknow.
Loyal customers are very important for any company. It is
being noticed that there is always a gap between services provided by the
company and consumer’s expectation. The aim of any company is
creating a satisfied customer. For this the company must have a good
knowledge about the expectations of their customers and their behaviour
pattern towards the products of the company. Every individual has a
desire to earn money and a rational human being takes all the pains that
are necessary to achieve his aim. One widely used avenues for reaping a
reasonable return on investments by investing in the various schemes and
in a wide variety of products and services being offered by various banks.
In India ample number of banks providing there services to their
customers. This project will help us to know the different aspects of
investors’ perception regarding investing, their awareness, source of
information, preferences, etc. This project contains findings and
recommendations interpreted from the investors’ perception regarding the
services provided by the banking Companies based on the questionnaire
survey conducted for the same purpose. The parameters that has been
taken into consideration includes investors age, occupation, awareness,
number of years they have been banking with that bank, features liked by
them of their bank, their expectations from the bank. Through this project
we will focus that what are those services, facilities, and benefits
prevailing in the market that are mainly luring to the customers towards

4
them and what are the loopholes that still creates troubles for investors
who are highly interested in investing.
Project will do comparison and analysis of the accounts and
services given by different private sector banks to their customers. The
main aim is to know what Investors think about Kotak Mahindra Bank
and what is the market share of the Kotak Mahindra Bank. This study is
very specific I have concentrated that what are the main services or
benefit that attracts the client towards Kotak and what are the main
causes that are making differences. My endeavour was to explore the
investor’s perception regarding services with Kotak Mahindra Bank Ltd.
My study will consider the attitude of the investors towards these services
and also their expectations from it. To support the work primary data has
been collected by means of the questionnaires designed. For doing
comparative analysis of services of Kotak Mahindra Bank Ltd., I had
taken the secondary data of its top three most competitors in this market
and made a chart to compare the services provided by them. According to
secondary data the top most three banking companies in Lucknow region
which are giving competition to Kotak Mahindra Bank Ltd are:
 ICICI BANK LTD.
 HDFC BANK LTD.
 AXIS BANK LTD.
In this small journey of learning I have tried to do justice with the said
project by taking all the factors into consideration what so ever is
affecting customer decision. Questionnaires have been prepared
accordingly and survey has been conducted to know about customers
preferences for the services provided by the company. Finally I would
like to say that my project was quiet interesting as it has given a better
view of status of various banks in term of services provided by them.

5
 CONTENTS

Serial Topic Page No.

No.
1. Introduction 7 - 34
 Kotak Savings Account 16 - 20

 Kotak Current Account 21 - 27

 Comparison of Kotak Accounts with 28 - 32

other Banks
 Objectives of the product 33
2. Methodology 34 - 35
 Data Analysis of Study 35 - 45
3. Result 46 -47
4. Conclusion 48
5. Future Prospects 49
6. Appendices 50 -51
7. Glossary 52 - 54
8. Bibliography 55

INTRODUCTION

Banks are the most significant players in the Indian financial

market. They are the biggest source of credit and they also attract most of
the savings from the population. Dominated by the public sector, the
banking industry has so far acted as an efficient partner in the growth and
the development of the country. Driven by the socialist ideologies and the

6
welfare state concept, public sector banks have been the supporters of
agriculture and other priority sectors. They help the government in its
efforts to ensure equitable economic development.

The Indian Banking sector can be broadly categorized into

nationalized banks, private sector banks and specialized banking
institutions. The Reserve bank of India acts as a centralized body
monitoring any discrepancies and shortcoming in the system. Since the
nationalization of banks in 1969, the public sector banks or nationalized
banks have acquired a place of prominence and has since then
tremendous progress. The need to become highly customer focused has
forced the slow moving public sector banks to adopt a fast track
approach.

In the early 1990s, the then Narasimha Rao government

embarked on a policy of liberalisation and gave licences to a small
number of private banks, which came to be known as New Generation
Tec savvy banks, which included Axis bank, HDFC bank and ICICI
bank. The move along with the rapid growth in the economy of India,
kick started the banking sector in India, which has been rapid growth with
strong contribution from all the three sectors of banks namely-
government banks, private banks and foreign banks. Almost 80% of the
business is still controlled by Public Sector Banks (PSBs). PSBs are still
dominating the commercial banking system. Shares of leading PSBs are
listed on the stock exchanges. The RBI has given licenses to new private
sector banks as part of liberalization process. The RBI has also been
granting licenses to industrial houses. Many banks are successfully
running in the retail and consumer segments but are yet to deliver
services to industrial finance, retail trade, small business and agriculture
finance. The PSBs will play an important role in the industry due to its
number of branches and foreign banks facing the constraint of limited
number of branches and ATMs. Hence, in order to achieve an efficient
banking system, the government should encourage the private banks also.

Relationship Banking

Today banking in India has become an unpopular industry,

much blamed for the problem of its own making. The modern bank
cannot rely on its branch network alone. Customers are now demanding

7
new, more convenient, delivery systems and services such as interest
banking have a dual role for the customer, thus increasing the
productivity of this sector.

They provide traditional banking services, but additionally

offer much greater access to information on their account and on the
banks many other services. To do this a bank has to create information
layers, which can be accessed both by the bank staff and as well as the
customer themselves. The use of interactive electronic links via the
internet can go a long way in providing the customers with greater deal of
information about both their financial situation and about the services
offered by the bank.

Banking System In INDIA

Apex Banking Institutions

8
 Reserve
Bank of India

Agricultural Apex Industrial

Refinance Banking Development
Development Institutions Bank

Export
Import Bank
of India

Services Rendered By Banks In INDIA

9
 ServicesRendered
Services Rendered
ByBanks
By BanksIn
In
INDIA
INDIA

PersonalServices
Personal Services BusinessServices
Business Services AncillaryServices
Ancillary Services

Personal
Personal ForeignTrade
Foreign Trade UnitTrust
Unit Trust
Service
Service

CreditCard
Credit Card MerchantBanking
Merchant Banking BanksDraft
Banks Draft

LifeAssurance
Life Assurance OffshoreBanking
Offshore Banking MailTransfer
Mail Transfer

HirePurchase
Hire Purchase Factoring
Factoring

History Of Private Banks In INDIA

10
 All the banks in INDIA were earlier private banks. They
were founded in the pre-independence era to cater to the banking needs of
the people. After nationalization of banks in 1969 public sector banks
came to occupy dominant role in the banking structure. Private sector
banking in India received a fillip in 1994 when Reserve Banks of India
encouraged of setting up private sector banks as part of its policy of
liberalization of the Indian Banking Industry. Housing Development
Finance Corporation Limited (HDFC) was amongst the first to receive an
‘in principle’ approval from the Reserve Bank Of India (RBI) to set up a
bank in the private sector. Private Banks have played a major role in the
development of Indian banking industry. They have made banking more
efficient and customer friendly. In the process they have jolted public
sector banks out of complacency and forced them to become more
competitive. These private banks include banks like-

HDFC

ICICI

Axis

Kotak Mahindra Bank

IDBI bank

ABN AMRO

Top Four Private Banks in

Lucknow
11
 ICICI

Top
Kotak
Private
Mahindra HDFC
Banks in
Bank
Lucknow

AXIS

Kotak Mahindra Bank:

12
 Kotak Mahindra is one of India's leading financial
organizations, offering a wide range of financial services that encompass
every sphere of life. From commercial banking, to stock broking, to
mutual funds, to life insurance, to investment banking, the group caters to
the diverse financial needs of individuals and corporate. The group has a
net worth of over Rs. 6,327 crore and has a distribution network of more
than 1300 branches, franchisees, representative offices and satellite
offices across cities and towns in India and offices in New York, London,
San Francisco, Dubai, Mauritius and Singapore. The Group services
around 5.9 million customer accounts.

Established in 1985, The Kotak Mahindra group has long

been one of India's most reputed financial organizations. In February
2003, Kotak Mahindra Finance Ltd, the group's flagship company was
given the license to carry on banking business by the Reserve Bank of
India (RBI). This approval creates banking history since Kotak Mahindra
Finance Ltd. is the first company in India to convert to a bank.

At Kotak Mahindra Bank, they address the entire spectrum

of financial needs for individuals and corporates. They have the products,
the experience, the infrastructure and most importantly the commitment
to deliver pragmatic, end-to-end solutions that really work.

The symbol of the infinite Ka reflects our global Indian

personality. The Ka is uniquely Indian while its curve forms
the infinity sign, which is universal. One of the basic tenets
of economists is that man’s needs are unlimited. The infinite
Ka symbolizes that we have infinite number of ways to meet
those needs.

Achievements Of Kotak Mahindra Bank

13
 1. Winner in 33 categories in the Asia Money Private Banking Poll
2006
2. Ranked No 1 in six categories in the Annual Euro Money Private

Banking Survey Poll for 2006 in INDIA

3. Best Investment Bank in INDIA by Finance Asia
4. Ranked No. 1 in league table for Boo runner/ Lead Manager Public

Equity Offerings in terms of the value of transactions completed

during FISCAL 2006 according to the prime database.
5. Best Booker In INDIA by Finance Asia
6. Topped the Asia Money 2006 Brokers Poll as The Best Local
Booker
7. Adjudged the Best Mutual Fund House in the NDTV Business
Leadership Awards 2006
8. Best bond Fund Group over 3 years by Lipper for the Kotak Bond

Regular Plan
9. Ranked ICRA-MFRI and was the requirement of the silver award
by ICRA for the “Kotak Bond and Regular Plan”
10. Kotak Mahindra Bank amongst Hewitts “Top 25 Best Employers”

Kotak Services

14
We are “20years old new bank”. A part of the Kotak Mahindra Group
that comes into existence nearly twenty years ago and one of India’s
leading financial institutions today enjoying the trust and confidence of
over 5 lakh customers. Partnering Kotak in its growth has been leading
international players like Goldman Sachs (investment banking and
equities), Ford credit (Automobile Finance) and Old mutual (life
insurance). Kotak offer a comprehensive range of financial services and
are market leaders in Retail Equities, Car Finance and Investment
Banking. It distinguished track record made up India’s first ever company
to be converted into a bank. Kotak Mahindra Bank brings pragmatic,
world class financial solutions for Indians the world over.

Products Offered

 Savings Account

 Current Account
 Fixed Account
 DEMAT
 Mutual Funds
 Insurance

SAVINGS ACCOUNT

15
 Savings accounts of Kotak Mahindra Bank are designed to ensure that
customers receive the benefits of quick and convenient banking
transactions along with options of the customer to earn high returns. The
savings account goes beyond the traditional role of savings, to provide its
customers a range of services from funds transfer options to online
payments of bills to attractive returns earned through a comprehensive
suite of investment options. Bank has a number of variants of our savings
account to suit the needs of an individual so pick that, which matches the
requirements and sit back to enjoy the Kotak experience. Some of the
savings accounts of Kotak are:

 Edge Savings Account

 Pro Savings Account
 Ace Savings Account

Keeping Your Money Safe is just one utility of your Savings Account

16
 You’d expect your Savings Account to do more than
that

Savings
Account

Money
Manageme
Safe
Investment Payments Bills nt
Keeping

It’s a new Savings Account for a new age, because we all know that
times have changed.
EDGE Savings Account

17
 Kotak Mahindra Bank’s Edge Savings Account is a
complete financial package customized to suit your individual banking
needs. Our constant endeavour is to enable regular financial transactions
through our online platform so that most of your payments can be made
directly through your account or card.

Key Features:
 AQB – 10,000
 Unlimited Access
 Financial Payment facilitated through the savings account
 Quick and easy fund transfer
 Multiple Access Banking
 ActivMoney
 Phone banking
 Net Banking

PRO Savings Account

18
 Kotak Mahindra Bank’s Pro Savings Account is an
account packed with powerful features to provide you a superior banking
experience at a very comfortable balance requirement. We provide you a
relationship manager who will specifically take care of your banking and
investment needs.

Key Features:
 AQB – 20,000
 Unlimited Access
 Global Debit Card
 Free Electronic Funds Transfer

 Dedicated Relationship Manager

 Multiple Access Channels
 Family Savings Account
 Phone Banking
 ActivMoney
 Net Banking

19
 ACE Savings Account

Kotak Mahindra Bank’s Ace Savings Account has been

designed as a gateway to a world of financial benefits and privileged
banking transactions. The account carries benefits ranging from personal
investment advisory services to free banking transactions. You will find
that this package of services and privileges is unmatched by any other
Savings Account in the market.

Key Features:
 Free Home Banking
 Phone Banking
 Net Banking
 Global Debit Card
 ActivMoney
 Free Demand Draft
 Family Savings Account
 Free Electronic Fund Transfer
 Dedicated Relationship Manager

20
 CURRENT ACCOUNT

Kotak Mahindra Bank offers you unparalleled

advantages with its Current Account offerings. Whether you have a
small, mid size business or an enterprise spread across multiple locations
in the country, you would find a current account that’s just designed for
you. It has feature ranging from Free DD’s, Free Cheque Book and Free
Collection of Cheque facility to Free Trading Account and Demat
Account and more. Kotak offers many types of Current Account which
are-

 Neo Current Account

 Edge Current Account
 Pro Current Account
 Elite Current Account
 Ace Current Account

21
Now earn Interest on your Current Account

Current
Account

Gold
Provides Free Home Phone
Debit
Interest DD’s Banking Banking
Card

Ask your heart a question-

Which other bank provides such facilities in Current
Accounts????

22
 NEO Current Account

At Kotak Mahindra Bank, we believe that every little thing

matters. That’s why we bring to you Kotak Neo Current Account, power
packed with exclusive features that can make a tremendous difference to
the way you do business.

Features:
 AQB – 10,000
 Free Phone Banking
 Free Net Banking
 Free NEFT and RTGS through Net Banking
 10 DDs free per month
 Free cash deposit upto Rs. 2 lakh p.m

 Charges reversal offer upto Rs.1000 p.a

 Unsecured overdraft facility upto Rs.10 lakh
 Multi-city Banking
 Business Debit Card
 Free Payable at-par Cheque Book

23
 EDGE Current Account

At Kotak we believe that every little thing matters,

that’s why we bring to you Kotak Edge Current Account which is power
packed with exclusive features that can make a tremendous difference to
the way you do business.

Features:
 AQB – 25000
 Free NEFT and RTGS
 Kotak ActivMoney
 Unsecured Overdraft upto Rs.10lakh
 Multi-City Banking
 Free Net Banking
 Free Phone Banking
 Free cash deposit upto Rs.3 lakh p.m
 Free Cheque Collection for Cheques above Rs.1 lakh
 Free 25 DDs per month
 Free Global Debit Card
 Free Payable at-par Cheque Book

24
 PRO Current Account

At Kotak Mahindra Bank, we believe that every little

thing matters. That’s why we bring to you the Kotak Pro Current
Account, power-packed with exclusive features that can make a
tremendous difference to the way you do business.

Features:
 AQB – 50,000
 Kotak ActivMoney
 Free 50 DDs p.m
 Free Cash Deposit upto Rs.5 lakh p.m
 Free Beat Cheque pick-up service
 Multi-City Banking
 Free NEFT and RTGS
 Free Net Banking
 Free Phone Banking
 Free Home Banking Service
 Unsecured overdraft upto Rs.10 lakh
 Free Cheque-Collection at Branch Location
 Free Global Debit Card
 Free payable at-par Cheque Book

25
 ELITE Current Account

At Kotak Mahindra Bank, we believe that every little

thing matters. That’s why we bring to you the Kotak ELITE Current
Account, power-packed with exclusive features that can make a
tremendous difference to the way you do business.

Features:
 AQB – 1,00,000
 Kotak ActivMoney
 Free Net Banking
 Free Phone Banking
 Free 100 DDs p.m payable at Branch Locations
 Unsecured Overdraft upto 10 lakh
 Free RTGS and NEFT
 Free Home Banking
 Free Global Debit Card
 Free Beat Pick-up Service
 Free Cash Deposit upto Rs.10 lakh p.m
 Multi-City Banking
 Free Payable at-par Cheque Book

26
 ACE Current Account

At Kotak Mahindra Bank, we believe that every little thing

matters. That’s why we bring to you the Kotak Ace Current Account,
power-packed with exclusive features that can make a tremendous
difference to the way you do business.

Features:
 AQB – 2,50,000
 Kotak ActivMoney
 Free Home Banking
 Free Beat Pick-up Service
 Free Net Banking
 Free Phone Banking
 Free unlimited DDs payable at branch locations
 Free DDs upto Rs.30lakh payable at non-branch locations
 Unsecured Overdraft upto Rs.10lakh
 Multi-City Banking
 Free NEFT and RTGS
 Free Global Debit Card
 Free Cheque Collection at Branch Locations
 Better Forex Rates and Efficient Trade Services
 Free payable at-par Cheque Books

27
Comparison Of Various Features and
Benefits Of Various Banks with
Kotak Mahindra Bank

Comparison of Rate of Interest given in Savings Account

Banks Rate of Interest of

Savings Account

3.50% till a particular amount

and after that they give an Interest
Kotak Mahindra Bank
at the FD rate

ICICI 3.50%

HDFC 3.50%

AXIS 3.50%

28
Comparison of Minimum Balances of Savings and Current Account of
Various banks with Kotak Mahindra Bank

Minimum Minimum
Banks Balance for Balance for
Current Savings
Account Account

Kotak Mahindra 10,000 10,000

Bank

ICICI 10,000 10,000

HDFC 10,000 10,000

Axis 5,000 10,000

29
30
 Bank
Features s and their Current Accounts
KOTAK ICICI HDFC AXIS

Norma
Account Name NEO Silver Regular l
AQB 10,000 10,000 10,000 10,000
Rs.95
Business Debit Card Free Silver per card
Annual Fess Free Rs. 99 p.a
Acess to any ATM Free Free
till 1lac-
NEFT Free Free Rs.5p.t
above 1lac-
Rs.25p.t
1lac-5lac
RTGS Free Free Rs.25p.t
above 5lac-
Rs.50p.t
At par cheques Free Payable
Home Banking Available NA Available NA
Multicity cheque book Free for 1lac 1lakh p.m
1 lakh
Cash Deposit Limit 2Lac p.m p.m
Anywhere banking Free NA Free

Business
Account Name Edge Gold Premium Advantage
AQB 25,000 25,000 25,000 25,000
free above 1
Demand drafts 25 p.m lac 10p.m
NEFT&RTGS Free Free
Business Debit Card Free Gold
Annual Fees Free Free
free above 1
Pay Orders (free) NA NA lac Free
Cheque leaves (free) NA NA 100p.m
Cash Deposit (free) 3Lac p.m 3lac p.m 3lac p.m
Cheque
Collection(free) 1Lac Above 1lac Upto 25Lac
Anywhere Banking Free Free Free
Multicity Cheque Book Free NA

Account Name Pro Titanium NA NA

31
32
Features Banks and their Savings Account

Kotak ICICI HDFC Axis

Account Edge Pro Ace Regular Regular Savings Easy
Name Max Acess

AQB 10,000 20,000 75,000 10,000 10,000 25,000 5,000

NEFT Free Free Free No No Free No
RTGS Charge charge Free No No
applicable applicable
2way Yes Yes Yes Yes Yes Yes No
sweep
Home Free Free Free No No Free No
Banking
Debit Card Yes Yes Yes Yes Yes Yes
accessbility
Monthly Free Free Free Free No Free Free
Statement
Net Yes Yes Yes Yes Yes Yes Yes
Banking
Carbonized Yes Yes Yes No No No No
Cheque book
Debit Card Free Free Free No No Free Free
Bill Pay Yes Yes Yes No Yes Yes No

33
OBJECTIVES OF THE STUDY

The objectives of the undergoing study are as follows:

 Study and analyse the features of the products Kotak Mahindra Bank.

 Comparative study between Kotak Mahindra Bank with other Banks.

 Possible improvements to be brought in for the development of their
further business.

Rational For the Project:

This study is helpful to find out the strengths and the
weakness of the deposits and mobilization schemes of the Kotak
Mahindra Bank and ways to overcome its weakness. This study provides
useful inputs to find out the current position of the Kotak Mahindra Bank
in the market in comparisons to its competitors.

Limitations:
For the study of this project only current and savings
accounts had to be taken under consideration of different banks. All other
products that a bank provides had to be ignored.

34
 RESEARCH METHODOLOGY

Research Tools:

For this research I have used both primary and secondary data.

Primary Data:

Data collection for the research work in this project has

completely done on the basis of questionnaire method. The data
collection method was survey, which was incorporated for collecting the
information. The survey is important because it helps in collecting the
great deal of information about the individual respondent.

Secondary Data:

For secondary data, I have used material (pamphlets and

brochures) from various banks, books, magazines and some websites.

Sampling Procedure:

The technique used here was convenient sampling. I

approached all Kotak Mahindra bank customers and other people, those
not using the services of Kotak Mahindra bank and have accounts with
other banks.

Graphical method of presentation has been used in

order to compare the savings and current account of Kotak Mahindra
Bank with other banks.

35
 DATA ANALYSIS OF THE STUDY

FOR GENERAL CUSTOMERS

Q1. Which bank are you banking with?

ICICI HDFC AXIS OTHERS

35 20 13 32

Banks Prefered By People

32% 35%
ICICI
HDFC
AXIS
OTHERS

13%
20%

36
Q2. Account preferred by the people?

Saving Account Current Account

57 43

Types Of Account Prefered

60 57

50
43

40

Number Of
30 Savings Account
People
Current Acount
20

10

0
1 2
Type Of Account

Q3. Are people satisfied with the services provided by their bank?

37
 YES NO
81 19

S a tis fa c tio n L e v e l O f P e o p le

19

YE S
NO

81

Q4. Have you heard about Kotak Mahindra Bank?

38
 YES NO
79 21

A w a re n e s s A b o u t K o ta k

21

YES 79

NO

39
Q5. How did people come to know about Kotak Mahindra Bank?

Advertisement Bank References

40 25 35

Source of Information About Kotak

40

35

30

25

20

15

10

0
Advertisement Bank References

40
Q6. Have people heard about the additional features provided by Kotak
Mahindra Bank?

YES NO
24 76

Awareness of People about Kotak

24 YES
NO

76

41
Q7. Would you like to open an account in Kotak Mahindra Bank?

YES NO
23 77

Customer Preference To Open An Account With

Kotak Mahindra Bank

77

YES
NO

23

FOR KOTAK CUSTOMERS

42
Q1. How long have you been banking with Kotak Mahindra
Bank?

6 Months or Less 1 Year or Less More Than 1 Year

24 42 34

People Banking With Kotak

45

40

35

30

25
Number Of people
20
Series2
15

10

0
6 Months or 1 Year or Less More Than 1
Less Year

Q2. Accounts preferred the most by customers?

43
 Savings Account Current Account
57 43

Prefered Account

60

50

40

Number of
30 Savings Account
People
Current Account

20

10

0
1 2
Type of Account

Q3. Feature of the bank liked by the customers the most?

44
Home Banking 2way Sweep Carbonized Family Savings
Cheque Book Account
42 24 10 24

Features Liked by the Customers

45

40

35

30

Number of 25
Customers Series1
20
Series2
15 Series3

10

0
Home 2way Sweep Carbonized Family
Banking Cheque Savings
Book Account

Q4. Are people satisfied with their account?

45
 YES NO
83 17

Satisfaction Level of People

17

83

YES
NO

RESULT

46
 After doing a detailed market study and a comparative
study between Kotak and its competitors the result is that Kotak has some
strengths but we can not ignore the weaknesses that it has. In future, the
bank has many opportunities to grow only if it takes care of the threats
which it is facing in the current time. The strengths, weaknesses,
opportunities and threats for Kotak are:

STRENGHTS:

 Focus on Customer Service

 Superior Savings and Investment Plans
 Safe, Simpler and Smarter Banking
 A Technology enabled Service, through Automated Channels
without Physical Branch Access

WEAKNESSES:

 Not very localised, due to which people are not aware of Banking
Products and Services Provided by The Bank
 It is Prioritising on the Premium Class and Middle Class not to the
needs of Lower Class
 It is Highly Urbanized and Catering to the needs of the People of
Urban Area only
 It has a Particular Range of Products which does not suit every
Financial need

OPPORTUNITIES:

47
  With the Development of Rural Areas, Bank should widen its
activities by opening of Branches in Rural Areas and Diversifying its
Products to meet the needs of all Strata’s of Society and even the
Rural Class
 Better Publicity and Market Awareness can Increase the
Penetration of the Bank in the Market and thus Trotting Growth of the
Bank
 Increase in the Number of Branches and Technology enable
Services through Automated Channels can Challenge the other Banks

THREATS:

 Major competitors are ICICI, HDFC and AXIS bank

 Various other Nationalized Banks are coming Forward and they are
Diversifying their Products and Services
 If Kotak does not reduces its AQB atleast in the Savings Account it
might loose its customers to other banks in some time

CONCLUSION

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 There is a need of constant innovation in retail banking.
In bracing for tomorrow, a paradigm shift in bank financing through
innovative products and mechanisms involving constant up gradation and
revalidation of the bank’s internal systems and processes is called for
Banks now need to use retail as a growing trigger. This requires product
development and differentiation, innovation and business process re-
engineering, micro planning, marketing, prudent pricing, customization,
technological upgradation, home/electronic/mobile banking, cost
reduction and cost selling. While retail banking offers phenomenal
opportunities for growth, the challenges are equally daunting.

How far the retail banking is able to lead growth of the

banking industry in future would depend upon the capacity building of
the banks to meet the challenges and make use of the opportunities
profitably. However, the kind of technology used and the efficiency of
operation would provide the much needed competitive edge for success
in retail banking business. Furthermore, in all these, customer’s interest is
of paramount importance. The banking sector in India is demonstrating
this and I do hope they would continue to chart in this traded path.

Recommendations

 Banks should open more branches to increase its network

 Banks should give more emphasis on its advertisement

 In such a competitive environment the bank must try to shorten the

processing time of account opening by excluding unnecessary
formalities

 The bank must concentrate more on personal relationship and

services offered, as differentiation on the basis of product is difficult

FUTURE PROSPECTS

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 As current market place is highly competitive and each
corporate is expanding its business round the globe for its global presence
so they do study related to market trend regarding to their market share in
comparison to their competitors. In this study we have found out the
Market share of Kotak Mahindra Bank and have compared it with other
Private sector banks. In future if ever Kotak Mahinda Bank needs to
improve on its products and services it can study the project and
understand its weaknesses and the project will help it take better
decisions as it can easy compare itself to its competitors or to the banks it
might loose. Thus, this project in future would be very beneficial for
Kotak Mahindra Bank as just a glance on it might tell Kotak what is
beneficial for it.

APPENDICES

QUESTIONNAIRE
(For General Customers)

Name_____________ Contact No.__________________

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 Occupation_________ Age_______________________
Address____________________________________________________

1. Which Bank are you banking with?

A. ICICI
B. HDFC
C. AXIS
D. OTHER(please specify)________________

2. Which type of account you have with the bank?

A. Savings
B. Current

3. Are you satisfied with the services of your bank?

A. Yes
B. No

4. If no, please specify the problem

5. Have you heard about Kotak Mahindra Bank?

A. Yes
B. No

6. How did you come to know about Kotak Mahindra Bank?

A. Advertisement
B. Bank
C. References

7. Which feature of your bank you like the most?

__________________________________________________________

8. Would you like to open an account in Kotak Mahindra Bank?

A. Yes B. No

QUESTIONNAIRE
(For Kotak Mahindra Bank Customers)

Name________________ Contact No.__________________

Occupation___________ Age________________________
Address____________________________________________________

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1. How did you come to know about Kotak Mahindra Bank?
A. Advertisement
B. References
C. Bank

2. How long you have been banking with this bank?

A. 6 months or less
B. 1 year or less
C. More than 1 year

3. Which type of account you are operating?

A. Savings
B. Current

4. Which feature of Savings and Current account of Kotak

Mahindra Bank you like the most?
A. Home Banking
B. 2way sweep
C. Carbonized Cheque Book
D. Family Savings Account

5. Are you satisfied with your accounts?

A. Yes B. No

6. If no, please specify the problem

_________________________________________________________

7. What more benefits do you expect from Kotak Mahindra

Bank?

GLOSSARY

 AQB:

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 Average Quarterly Balance – It is the minimum amount required to
be maintained on an average in 3 months or 90 days by the account
holder

 Kotak ActivMoney –
ActivMoney gives you the unique opportunity to maximize your
returns while offering liquidity at the same time. Daily balances in
your Current Account, above a certain amount are automatically swept
into Fixed Deposit. The ‘swept out amount’ is brought back into the
account to meet fund requirments when the account balance goes
below the threshold level. So you not only enjoy attractive return on
your idle balances but also maximise liquidity.

 Unsecured Overdraft Facility –

With our unique feature credit Access, you can avail Overdraft
Facility upto 10lakhs on your account for your business needs or
emergencies. This facility is available after six months of account
relationship with the bank.

 Free NEFT –
All NEFT transactions done through branch or net banking are
absolutely free. Transfer of funds across all major banks covering
more than 10,000 branches at more than 200 locations across India.

 Free RTGS –
All RTGS transactions through branch and net banking are absolutely
free. With this service you can transfer any amount above Rs. 1 lakh
to more than 50000 branches of banks at a faster speed and absolutely
free of charge.

 Free At – Par Cheques –

Get free payable at-par cheque books that are treated as ‘local clearing
cheques' across all the branch locations. Save on DD charges while
enjoying the convenience of a cheque. These get cleared in 2 to 3 days
rather than 15 to 20 days as in case of normal cheques.

 Dedicated Relationship Manager –

At Kotak we understand that your needs are unique and hence we
provide you a dedicated relationship manager who will be your single
point of contact at the bank. He will ensure that your requirements are

53
 patronised and will also provide you valuable advice regarding smart
money management.

 Free Beat cheque pick - up –

You can get all cheques which are to be deposited in your account,
picked up directly from your office everyday absolutely free of
charge.

 Net Banking –
Log on to the website www.kotak.com to avail of our highly
convenient Net Banking such as-

 View account balance

 Download account statement
 Fund transfer
 NEFT payment
 RTGS payment
 Utility Bill pay through BillPay
 Online tax payment through E tax
 Credit Card payments through Visa Money Transfer

 Multi – City Banking –

Your account/s with the Kotak Mahindra Bank will be recognised
across all our branches. You can walk into any branch across the
country to satisfy all your banking needs.

 Family Account –
It is a special facility to high value and good existing customers of
bank in which bank offers zero balance accounts apart from other
accounts already running with good balances above the required
average quarterly balance.

 NMC:
Non – Maintenance Charges are levied on account holder for not
maintaining AQB. It is Rs.900 per quarter on Edge Savings Account,
Rs.1500 p.q on Pro Savings Account and Rs.5000 p.q on Ace Savings
Account.

 Home Banking –
It is a facility to help you do all your bank work at home. In this you
can get all your cash and cheques which are to be deposited in your
account picked up from your home or shop every day at a nominal

54
 charge in Neo Current Account and for free in Elite Current Account.
Even if you want to withdraw cash you will receive the amount at
home. Thus, you won’t have to come to the bank again and again.

 Global Debit Card –

You can use your Kotak Mahindra Bank Global Debit Card to
withdraw cash from any VISA ATM anywhere in the world. You can
use the card to debit your Current Account for all business related
expenses and easily track your transactions. You can use any VISA
and Cashnet ATM anywhere in India absolutely free.

 Phone Banking –
Just pick up the phone and call us on our toll free number
1800116022(North India) or 1800226022 (Rest of India) which is a
24hr customer care center. Through an sms on a toll free number you
can check your account balance, check the details of your last
transaction, etc.

BIBLIOGRAPHY

 www.kotak.com

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 www.google.com

 www.wikipedia.com

 www.icici.com

 www.hdfc.com

 www.axis.com

 Brochures and Handouts made available by the bank

 Books and Magazines

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