...Comparative Analysis of IDBI Bank products with Other Banks Summer Internship Program 6/28/2012 AMITY UNIVERSITY-NOIDA LOLI ATHILI MBA-Insurance and Banking Enrollment no. A2828411082 Batch : 2011-2013 Project Report At A Glance Prepared By: Loli Athili Insurance and Banking Amity University, UP Noida Sec 125- 201303 Report Title: A Comparative analysis of IDBI bank products with other banks. Organization: IDBI Bank, Shillong 793003 Period: 10th May to 28th June Organizational Guide: Mr. Tenzing Nima Asst. Manager (Service and Operation) IDBI Bank Police Bazaar, Shillong-793001 Institutional Guide: Mr. J.L. Kapoor Asst. Professor Amity University, Noida, UP. Contents ParticularsDeclaration | Page number 5 | Acknowledgement | 6 | Preface | 7 | Chapter 1: Introduction of Banking Industry in India and Overview of the Organization, IDBI Bank | 9 | Executive Summary | 34 | Research Methodology | 35 | Scope of...
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...• Max Reach Workflow Swift Workflow Express Local Collection CMS Collection Products CMS Procedure Services Correspondent Bank Client Acquisition Process Host to Host Connectivity CMS Structure Disbursement Customer Benefits Operational Constraint Need for CMS Branch Responsibility What is CMS 2. • In a geographically large country like India having a complex financial clearing system, corporate find it increasingly challenging to process collections CMS is the process of optimizing receivable and payables ensuring predictability in the cash flows of CMS clients.3. & Cash Management thus means getting funds in time, quick transfers, quick realization of local and outstation instruments, easy disbursements, accounts reconciliation, controlled processes and customized MIS.payments across dispersed business locations. • Difficulty in collecting data / MIS on the funds collected Increased borrowing and associated costs Uncertainty in cash flows Delays in cash realizations Complex clearing system Geographical spread of the country4. • Pooling of funds • Funds collected Assured Credit • Availability of cleared funds variable • Depends on type of cheque viz. Local/Outstation(Branch/Non branch) • Customer gets credit after fixed number of days once instruments are picked up, even if bank is not yet in funds5. & deposited in Central Account • Instruments picked up at various locations, sent to appropriate clearing houses, funds collected & ...
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...| No. of respondents | Percentage | Strongly Agree | 42 | 38% | Slightly Agree | 38 | 35% | Neutral | 4 | 4% | Slightly Disagree | 14 | 13% | Strongly Disagree | 12 | 11% | Total | 110 | | | Weight(x) | No. of respondents(f) | f*x | Strongly Agree | 5 | 42 | 210 | Slightly Agree | 4 | 38 | 152 | Neutral | 3 | 4 | 12 | Slightly Disagree | 2 | 14 | 28 | Strongly Disagree | 1 | 12 | 12 | | | 110 | 414 | Average rating | | 3.763636 | | No. of respondents | Percentage | Strongly Agree | 60 | 55% | Slightly Agree | 23 | 21% | Neutral | 3 | 3% | Slightly Disagree | 11 | 10% | Strongly Disagree | 13 | 12% | Total | 110 | | | Weight(x) | No. of respondents(f) | f*x | Strongly Agree | 5 | 60 | 300 | Slightly Agree | 4 | 23 | 92 | Neutral | 3 | 3 | 9 | Slightly Disagree | 2 | 11 | 22 | Strongly Disagree | 1 | 13 | 13 | | | 110 | 436 | Average rating | | 3.963636 | | No. of respondents | Percentage | Strongly Agree | 27 | 25% | Slightly Agree | 12 | 11% | Neutral | 34 | 31% | Slightly Disagree | 21 | 19% | Strongly Disagree | 16 | 15% | Total | 110 | | | Weight(x) | No. of respondents(f) | f*x | Strongly Agree | 5 | 27 | 135 | Slightly Agree | 4 | 12 | 48 | Neutral | 3 | 34 | 102 | Slightly Disagree | 2 | 21 | 42 | Strongly Disagree | 1 | 16 | 16 | | | 110 | 343 | Average rating | | 3.118182 | | No. of respondents | Percentage | Strongly Agree | 40 | 36%...
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...Federal Bank Limited (NSE: FEDERALBNK, BSE: 500469, LSE: FEDS) is a major Indian commercial bank in the private sector, headquartered at Aluva, Kochi, Kerala. It is the fourth largest bank in India in terms of capital base.[1] As of 18 April 2013, Federal Bank has 1124 branches spread across 24 states in India and 1272 ATMs around the country (across 108 metro centres, 224 urban centres, 384 semi-urban locations and 87 rural areas). Federal Bank opened its 1000th branch at Muthoor, Thiruvalla in Kerala on 17 August 2012,[2] and is planning to hire 2000 professionals by September 2012.[3][4] The Bank would be the first Bank from Kerala to cross the milestone of 1000 branch network. Contents [hide] * 1 History * 2 Acquisitions and Mergers * 3 Sponsorships * 4 References * 5 External links ------------------------------------------------- History[edit] In the year 1931, Travancore Federal Bank was inaugurated at Pattamukkil Varattisseril at Nedumpuram, near Thiruvalla, Kerala. The 14 founders included Sri.Pattamukkil Varattisseril Oommen Varghese, his brothers Oommen Chacko, Oommen Kurian, Oommen George and also another person from Thiruvalla, Kavumbhagam Mundapallil Lukose, and others. Oommen Varghese was the Chairman and Oommen Chacko the Manager. After it had functioned for nearly 10 years, the bank's day to day transaction had to be stopped due to the ill-health of the Manager. Understanding this situation, a lawyer from Perumbavoor named Sri K.P...
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...SUMMER INTERNSHIP PROGRAM-2012 A Report On Brand Equity of IDBI Federal Life Insurance Co Ltd. Submitted by: Chetan Paranjpe 11BSPHH010239 Project Report On Brand Equity of IDBI Federal Life Insurance Co Ltd SUBMITTED TO Faculty Guide: Company Guide: Prof. G Radha Krishna Mrs. Shanthi Yagyanath IBS Hyderabad Assistant Branch Head IDBI Federal AUTHORIZATION This project has been prepared under the guidance of Mrs. Shanthi Yagyanath, Assistant Branch Head, IDBI federal Life Insurance and Dr. Radha Krishna, Faculty Guide, IBS Hyderabad. This Report is been submitted as a partial fulfillment of MBA program of IBS Hyderabad ACKNOWLEDGEMENT I would like to take an opportunity to thanks all those who have made working on this project feasible for me. I would like to thank IDBI federal for providing me with the opportunity to work for them and giving me the taste of my first corporate and professional world. It gave me an opportunity to understand real life situation and implement those things which I had earlier come across only in textbooks as a part of my course. I would like to extend my sincere gratitude to Mrs. Shanthi Yagyanath for allowing me to work...
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...Name : Dhaval Patil Enrolment No : 13BSP1669 IBS Campus : Mumbai Mobile No : 86525575275 Email–Id : dhpatil13@gmail.com SUMMER INTERNSHIP PROGRAM Project Proposal I. Project Proposed Name of the Organization : IDBI Federal Life Insurance Co Ltd Title of the project : Brand equity and its effects on sales of IDBI Federal Area of the project : Marketing II. Description of the project in Brief IDBI Federal Life Insurance Co. Ltd has built a strong brand in insurance sector by providing value and convenience to the customer. The brand can add significant value when its well-recognized and as positive association in the mind of the consumer this concept is referred to as Brand equity. Brand equity affects the sales. In India 24 insurance companies are currently operating. Differentiation factors of IDBI Federal Life Insurance Co. Ltd will be identified. A study on consumer perception, brand awareness will be conducted and Brand value analysis will be done with IDBI Federal. This project also aims to help the company to achieve its sales objective by focusing on their branding strategies and to understand its effectiveness by understanding the customer perception towards these strategies. III. Objective of the Project Our main objective is to selling the child-insurance and life-insurance...
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...Institutions 20.1 Introduction In the previous lesson you have learnt that companies raise long-term and medium-term finance by issuing shares and debentures. Specialised financial institutions are also an important source of such finance. In this lesson, we shall discuss the role and functions of specialised financial institutions. 20.2 Objectives After studying this lesson, you will be able to :- l explain the need for and importance of specialised financial institutions; l identify the types of such institutions; l describe the functions and objectives of Industrial Finance Corporation of India (IFCI) and State Financial Corporations (SFCs); l discuss the role and objectives of Industrial Development Bank of India (IDBI); l state the functions of IDBI; l Recall the meaning of ‘investment trust’; 56 :: Business Studies l discuss the objectives and function of Unit Trust of India (U.T.I.) ; l Explain the objectives of Industrial Credit and Investment Corporation of India (ICICI) ; l describe the functions of ICICI ; 20.3 Need for and importance of Specialised Financial Institutions (SFIs) SFIs are institutions set up mainly by the government for providing medium and long-term financial assistance to industry. As these institutions provide developmental finance, that is, finance for investment in fixed assets, they are also known as ‘development banks’ or ‘development financial institutions’. These institutions receive funds for their financing operations primarily...
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...Role of Information Technology in enhancing the customer reach at IDBI Federal Life Insurance Company Ltd. Background of the Study Information technology has been providing wide range of benefits to all the business sectors. It has become hugely beneficial to the Insurance industry also. The key area in which it has provided major improvements and benefits is customer support. Insurance industry is perhaps the best example of an “information-based” industry, because its activities consist of gathering, processing and distributing information. To drive growth and profitability of the company, efforts are required to interact with and retain the customers. Information technology is driving changes in the functions of the insurance companies with its innovations. The companies that fail to keep up with the latest technologies have the risk falling behind in competition by relinquishing their leadership positions. Making no mistake, the insurance industry is at a pivot point as further success is likely to rest on today’s technology strategies and decisions. With increased competition among insurers, service has become a key issue. Customers are looking for more and features that add to better service. So, any insurance company today must meet the need of the hour with more and more sophisticated approaches while handling the customers. Today, managing the customer intelligently is very essential for the insurer, especially in this highly competitive environment. This project...
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...Chapter 1: Introduction Security has been a universal desire right from the earliest civilizations. This quest for security has led to the concept of insurance. Insurance is a contract between two parties whereby one party called insurer undertakes, in exchange for a fixed sum called premium to pay the other party an assured sum of money on the occurrence of a certain event. Life insurance protects against the economic loss in the event of death. A family is generally dependent for its food, clothing and shelter on the income brought by the bread earner of the family. So long as he lives, that family secure but the death of the person may put the family in a very difficult situation. Uncertainty of death is inherent in human life. It is this uncertainty that gives rise to the necessity for some form of protection against the financial loss arising from death. Life insurance substitutes this uncertainty by certainty. Insurance sector plays a very important role in the development of any economy also, as it provides long term funds for infrastructure development and at the same time strengthens the risk taking ability. Insurance is a contract between the insurance company (insurer) and the policyholder (insured). In return for a consideration (the premium), the insurance company promises to pay a specified amount to the insured on the happening of a specified event. Meaning of Customer Buying Behaviour: Before business can develop marketing strategies, they must understand...
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...1.1Introduction to Training and Development Definition of Training: Training is a systematic development of knowledge, skills and attitudes required by an individual to perform adequately a given task or job. Training refers to efforts that help enhance employee skills for carrying out the present job. According to Edwin B Flippo, training is the act of increasing knowledge and skills of an employee for doing a particular job. Needs for training: • To improve the current job performance of employees • To familiarize employees with the policies and procedures of the organization. • To enhance the creativity, adaptability and versatility of the employees and to facilitate learning at the work place • To prepare employees for future job. • To change the skills, knowledge and attitudes of the employees on a permanent basis. • To help employees manage their careers. • To maintain knowledgeable work force. • To gain competitive advantage through a knowledgeable work force. • To promote organizational growth through individual growth. Areas of training: • Company policies and procedures • Human relations training • Skill based training • Problem solving training Onsite Workshops for Leadership Team Employees need more than bosses... They need mentors: Professionals skilled at assessing employee development needs and committed to guiding employees toward professional success. Leadership Training...
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...RELATIONSHIP MANAGEMENT | CRM IN BANKING INDUSTRY | Submitted by- Kartikeya Vairagare 046 laxita Chauhan 048 Manvendra Gautam 050 Mohit dave 053 Pranit Bhagat 055 Piyush Shende 057 Shambhavi Singh 078 | Introduction In recent time, we has witnessed that the World Economy is passing through some intricate circumstances as bankruptcy of banking & financial institutions, debt crisis in major economies of the world and euro zone crisis. The scenario has become very uncertain causing recession in major economies like US and Europe. This poses some serious questions about the survival, growth and maintaining the sustainable development. However, amidst all this turmoil India’s Banking Industry has been amongst the few to maintain resilience. The tempo of development for the Indian banking industry has been remarkable over the past decade. It is evident from the higher pace of credit expansion, expanding profitability and productivity similar to banks in developed markets, lower incidence of non- performing assets and focus on financial inclusion have contributed to making Indian banking vibrant and strong. Indian banks have begun to revise their growth approach and re-evaluate the prospects on hand to keep the economy rolling. 1. HISTORICAL BACKGROUND Bank of Hindustan was set up in 1870; it was the earliest Indian Bank. Later, three presidency banks under Presidency...
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...Central Interest Subsidy Scheme on Education Loan 1.Objective of Scheme: Ministry of HRD (MoHRD), Government of India (GoI), has formulated the Central Interest Subsidy Scheme with an objective to provide full interest subsidy for the period of moratorium on Education Loan to the students from Economically Weaker Section (EWS) with a total parental income upper limit of Rs. 4.50 lacs p.a. for pursuing approved technical/professional courses in India after class XII. The MoHRD has appointed Canara Bank as Nodal Bank for the scheme. 2. Features of the Scheme: Sr. Features No. 1 Target clientele Details • Students from Economically Weaker Sections (EWS) with a parental upper income limit of Rs. 4.50 lacs per annum • Admitted to approved technical/professional courses in India after class XII. • Students from Economically Weaker Sections (EWS) with a parental upper income limit of Rs. 4.50 lacs per annum. As per scheme, the income documents of parents will be certified by designated authority/ authorities appointed by District Level Consultative Committee (DLCC) at the district / sub – district / Block etc. level. The Branches / RACs have to contact their respective DLCC to obtain the list of such delegated authorities. • Admission to approved technical/professional courses in India after class XII in India in Educational Institutions established by Acts of Parliament, other institutions recognized by the concerned statutory bodies, Indian Institutes of Management (IIMs) and other...
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...b)10,001-15000 c) 15,001-20,000 d) 20,001-25,000 e)>25,000 3. Which are the banks you are dealing with? a) ICICI Bank b)HDFC Bank c) Bank d) Axis bank e)IDBI Bank f) Others 4. Since how long are you holding a Account in the following banks Years | ICICI | HDFC | HSBC | Axis bank | IDBI | Others | a)6m-1yr | | | | | | | b)1yr-2yr | | | | | | | c)2yr-5yr | | | | | | | d)> 5yr | | | | | | | 5.In last 6 months which channels did you mostly used for your every daily transaction? Channels | ICICI | HDFC | HSBC | Axis bank | IDBI | Others | a) Branch transaction | | | | | | | b) ATM | | | | | | | c) Tele-banking | | | | | | | d) Online banking | | | | | | | e) Mobile banking | | | | | | | 6. In which of the following banks are you aware of Mobile Banking services? Banks | YES | NO | ICICI Bank | | | HDFC Bank | | | HSBC Bank | | | Axis bank | | | IDBI Bank | | | 7. Employee status a) Employee b) Student c) Business d) Unemployed e) Retired 8. How much are you satisfied with the bank with following channels?(Rank them 1 being highest) Transactions | ICICI | HDFC | HSBC | Axis bank | IDBI | Others | a) Branch transaction | | | | | | | b) ATM | | | | | | | c) Tele-banking | | | | | | | d) Online...
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...History of Insurance development in India: Insurance in its modern form first arrived in India through a British company called the Oriental Life Insurance Company in 1818, followed by the Bombay Assurance Company in 1823, and the Madras Equitable Life Insurance Society in 1829. They insured the lives of Europeans living in India. The first company that sold policies to Indians with “fair value” was the Bombay Mutual Life Assurance Society starting in 1871.The first general insurance company, Triton Insurance Company Limited, was established in 1850. For the next hundred years, both life and non-life insurance were confined mostly to the wealthy living in larg metropolitans. Indian Insurance Market: With a huge population base and large untapped market, insurance industry is a big opportunity area in India for national as well as foreign investors. India is the fifth largest life insurance market in the emerging insurance economies globally and is growing at 32-34% annually. This impressive growth in the market has been driven by liberalization, with new players’ significantly enhancing product awareness and promoting consumer education and information. The strong growth potential of the country has also made international players to look at the Indian insurance market. Moreover, saturation of insurance markets in many developed economies has made the Indian market more attractive for international insurance players, according to "Booming Insurance Market in India...
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...IDBI Federal Life Insurance Company Limited Registered Office: 1st Floor Trade View, Oasis Complex, Kamala city, P.B. Marg, Lower parel (W), Mumbai - 400013, India IRDA Registration No: 135 Website: www.idbifederal.com Toll-Free : 18001025005 (For non-MTNL subscribers) /1800221120 (for MTNL subscribers) IDBI Federal Incomesurance Endowment and Money Back Plan - What if Analysis (Product Unique Identification No - 135N010V01) Some benefits are guaranteed and some benefits are variable with returns based on the future performance of IDBI Federal Life Insurance Company Limited. If your policy offers guaranteed returns then these will be clearly marked “guaranteed” in the illustration shown below. If your policy offers variable returns then the illustration will show two different rates of assumed future investment returns. These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back as the value of your policy is dependent on a number of factors including future investment performance. Details of Person to be Insured Date of illustration Name of the person to be insured Date of birth of the person to be insured Age of person to be insured (in years) Gender of the person to be insured Plan Details Plan option Policy term (in years) Premium payment period (in years) Premium payment mode Sum insured (in Rs) Instalment premium (in Rs) Service tax and education cess (in Rs) Total installment premium (in Rs) Guaranteed...
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