1. The document provides an overview of the Indian banking system and its history from the late 18th century to present day. It discusses key reforms and periods of nationalization and privatization. 2. It then discusses the liberalization of the banking sector in the early 1990s which allowed private banks to form and ushered in modern, tech-savvy banking. 3. Details are given about ING Group, a global financial services company, including its origins and merger history, operations in over 50 countries, and focus on providing banking, investments, insurance, and retirement services.

1. 1.INTRODUCTION
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2. INTRODUCTION
Banking system of a nation is the shadow of nation’s economy. A healthy and profitable
banking system is just like the backbone of nation’s economy. It is necessary for a nation to
achieve growth and remain stable in this global world and global economy. The Indian banking
system, with one of the largest banking networks in the world, has witnessed a series of
reforms over the past few years like the deregulation of interest rates, dilution of the
government stake in public sector banks (PSBs) and the increased participation of private
sector banks.
1.1 History of INDIAN BANKING SYSTEM
Banking in India originated in the last decades of the 18th century. The first banks were The
General Bank of India, which started in 1786, and the Bank of Hindustan, both of which are now
defunct The oldest bank in existence in India is the State Bank of India, a government-owned
bank that traces its origins back to June 1806 and that is the largest commercial bank in the
country. Allahabad Bank, established in 1865 and still functioning today, is the oldest Joint
Stock bank in India.
Central banking is the responsibility of the Reserve Bank of India, which in 1935 formally took
over these responsibilities from the then Imperial Bank of India, relegating it to commercial
banking functions. After India's independence in 1947, the Reserve Bank was nationalized and
given broader powers. In 1969 the government nationalized the 14 largest commercial banks;
the government nationalized the six next largest in 1980.
 In 1948, the Reserve Bank of India, India's central banking authority, was
nationalized, and it became an institution owned by the Government of India.
 In 1949, the Banking Regulation Act was enacted which empowered the Reserve
Bank of India (RBI) "to regulate, control, and inspect the banks in India."
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3.  The Banking Regulation Act also provided that no new bank or branch of an
existing bank could be opened without a license from the RBI, and no two banks
could have common directors
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4. 1.2 Liberalization in INDIAN BANKING SYSTEM
In the early 1990s, the then government embarked on a policy of liberalization, licensing a
small number of private banks. These came to be known as New Generation tech-savvy banks,
and included Global Trust Bank (the first of such new generation banks to be set up), which
later amalgamated with Oriental Bank of Commerce, Axis Bank(earlier as UTI Bank), ICICI Bank
and HDFC Bank. This move, along with the rapid growth in the economy of India, revitalized the
banking sector in India, which has seen rapid growth with strong contribution from all the three
sectors of banks, namely, government banks, private banks and foreign banks
The next stage for the Indian banking has been setup with the proposed relaxation in the
norms for Foreign Direct Investment, where all Foreign Investors in banks may be given voting
rights which could exceed the present cap of 10%, at present it has gone up to 49% with some
restrictions.
The new policy shook the Banking sector in India completely. Bankers, till this time, were used
to the 4-6-4 method (Borrow at 4%; Lend at 6%; Go home at 4%) of functioning. The new wave
ushered in a modern outlook and tech-savvy methods of working for traditional banks. All this
led to the retail boom in India. People not just demanded more from their banks but also
received more.
Currently (2009), banking in India is generally fairly mature in terms of supply, product range
and reach-even though reach in rural India still remains a challenge for the private sector and
foreign banks. In terms of quality of assets and capital adequacy, Indian banks are considered
to have clean, strong and transparent balance sheets relative to other banks in comparable
economies in its region. The Reserve Bank of India is an autonomous body, with minimal
pressure from the government. The stated policy of the Bank on the Indian Rupee is to manage
volatility but without any fixed exchange rate-and this has mostly been true.
With the growth in the Indian economy expected to be strong for quite some time-especially in
its services sector-the demand for banking services, especially retail banking, mortgages and
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5. investment services are expected to be strong. One may also expect M&As, takeovers, and
asset sales.
Currently, India has 88 scheduled commercial banks (SCBs) - 27 public sector banks (that is with
the Government of India holding a stake), 31 private banks (these do not have government
stake; they may be publicly listed and traded on stock exchanges) and 38 foreign banks. They
have a combined network of over 53,000 branches and 17,000 ATMs. The public sector banks
hold over 75 percent of total assets of the banking industry, with the private and foreign banks
holding 18.2% and 6.5% respectively.
1.3 The Origin of ING Group
ING group originated in 1990 from the merger between “Nationale Nederlanden” the largest
Dutch Insurance Company and “NMB Post Bank” Group. Combining roots and ambitions, the
newly formed company called Internationale Nederlanden Group ﾝ . Market circles soon
abbreviated the name to I-N-G. The company followed suit by changing the statutory name to
ING Group. ING is a global financial services company providing banking, investments, life
insurance and retirement services and operates in more than 50 countries.
PROFILE
ING is a global financial institution of Dutch origin offering banking, investments, life insurance
and retirement services. ING serve more than 85 million private, corporate and institutional
customers in Europe, North and Latin America, Asia and Australia. They draw on their
experience and expertise, their commitment to excellent service and their global scale to meet
the needs of a broad customer base, comprising individuals, families, small businesses, large
corporations, institutions and governments
STRATEGY
ING’s overall mission is to help customers manage their financial future. Capitalizing on
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6. changing customer preferences and building on our solid business capabilities, ING’s strategic
focus is on banking, investments, life insurance and retirement services. They provide retail
customers with the products they need during their lives to grow savings, manage investments
and prepare for retirement with confidence. With wide range of products, innovative
distribution models and strong footprints in both mature and developing markets, ING has the
long-run economic, technological and demographic trends on their side. ING aligns its business
strategy around a universal customer ideal: saving and investing for the future should be easier.
While steering the business through turbulent times, ING will execute efforts across all its
business lines to strengthen customer confidence and meet their needs, preserve a strong
capital position, further mitigate risks and bring its costs in line with revenue expectations.
COPERATE RESPOSIBILITY
ING wants to pursue profit on the basis of sound business ethics and respect for its
stakeholders. Corporate responsibility is therefore a fundamental part of ING’s strategy:
ethical, social and environmental factors play an integral role in business decisions.
1.4 FINANCIAL RESULTS
FY 2008 FY2007 FY2006 FY2005 FY2004
Income (in EUR milion)
Insurance operations 54,851 62,208 59,642 57,403 55,614
Banking operations 11,731 14,602 14,195 13,848 12,678
Total Income1 66,291 76,587 73,621 71,120 68,171
Operating Expenses
Insurance operations 5,422 5,515 5,275 5,195 4,746
Banking operations 10,303 9,967 9,087 8,844 8,795
Total operating expenses 15,725 15,481 14,362 14,039 13,541
Addition to loan loss provision Banking 1,280 125 103 88 465
operations
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7. Insurance result before tax -1,635 6,533 4,935 3,978 4,322
Banking result before tax 148 4,510 5,005 4,916 3,418
Total result before tax -1,487 11,043 9,940 8,894 7,740
Taxation -721 1,534 1,907 1,379 1,709
Minority interests -38 267 341 305 276
Net result -729 9,241 7,692 7,210 5,755
Figures per ordinary share (EUR)
Net result -0.36 4.32 3.57 3.32 2.71
Earnings 2) -0.56 4.32 3.57 3.32 2.71
Dividend 0.74 1.48 1.32 1.18 1.07
Shareholders’ equity 8.55 17.73 17.78 16.96 12.95
Balance Sheet (in EUR billion)
Total assets 1,332 1.312 1,226 1,159 964
Total equity 29 40 41 38 28
Shareholders’ equity 17 37 38 37 28
Capital Ratios (%)
ING Group debt/equity ratio 13.8% 9.5% 9.0% 9.4% 10.2%
Insurance capital coverage ratio 256% 244% 274% 255% 204%
Insurance debt/equity ratio 8.5% 13.6% 14.2% 13.4% 14.3%
Bank Tier-1 ratio 9.32% 7.39% 7.63% 7.32% 6.92%
Market capitalisation (in EUR billion) 15 60 74 65 49
Shares (in millions):
Outstanding 2,063 2,226 2,205 2,205 2,205
Preference shares outstanding - 16 63 87 87
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8. Key Performance Indicators
- Net return on equity (ROE) -2.1% 24.2% 23.5% 26.6% 25.4%
- Net result growth -108% 20% 7% 25% n.a.
Insurance
- Value of new life business 1,023 1,113 807 805 632
- Internal rate of return 13.9% 14.3% 13.3% 13.2% 12.1%
- Combined ratio (non-life) 97% 97% 91% 95% 94%
Banking
- Cost/income ratio 87.8% 68.3% 64.0% 63.9% 69.4%
- RAROC after tax 1.2% 19.9% 19.7% 22.6% 14.5%
Assets under management (in EUR 551 643 600 547 492
billion)
Staff (FTEs end of period) 124,661 124,634 119,801 116,614 112,195
1.5 The ING Vysya BANK Ltd.
ING Vysya Bank Ltd., is an entity formed with the coming together of erstwhile, Vysya Bank Ltd,
a premier bank in the Indian Private Sector and a global financial powerhouse, ING of Dutch
origin, during Oct 2002.
The origin of the erstwhile Vysya Bank was pretty humble. It was in the year 1930 that a team
of visionaries came together to form a bank that would extend a helping hand to those who
weren't privileged enough to enjoy banking services.
ING and ING Vysya Life Insurance are headquartered at Bangalore, while the corporate office of
ING Investment Management is situated at Mumbai. The synergies arising out of the three
distinct but complimentary businesses are bound to be an asset to the group in the changing
market dynamics of the future. The first such signs are already visible on the horizon with
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9. combined products being successfully launched by the different entities of the group in
conjunction with each other
It's been a long journey since then and the Bank has grown in size and stature to encompass
every area of present-day banking activity and has carved a distinct identity of being India's
Premier Private Sector Bank.
In 1980, the Bank completed fifty years of service to the nation and post 1985; the Bank made
rapid strides to reach the coveted position of being the number one private sector bank. In
1990, the bank completed its Diamond Jubilee year. At the Diamond Jubilee Celebrations, the
then Finance Minister Prof. Madhu Dandavate, had termed the performance of the bank
stupendous. The 75th anniversary, the Platinum Jubilee of the bank was celebrated during
2005.
The long journey of seventy-five years has had several milestones
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10. 1930
Set
up in
Bang
alore
1948
Sche
dule
d
Bank
1985
Larg
est
Priva
te
Sect
or
Bank
1987
The
Vysy
a
Bank
Leasi
ng
Ltd.
Com
men
ced
1988
Pion
eere
d the
conc
ept
of
Co
bran
ding Page | 10
of
Cred
it

11. s
1990
Pro
mot
ed
Vysy
a
The ING Vysya Bank DEHRADUN
Bank
Hous ING Vysya Bank Dehradun branch was established somewhere in September 2008 and it stands
ing at third position in the region for its performance. It is the newest Private Sector Bank in the
Fina
nce city and yet has achieved a remarkable growth rate in past 7 months. It has got its Journal
Ltd. Ledger of the size of Rs.120,000,000 (12 crore rupees) and has got customer base of 1800 well
satisfied happy customers. Every month around 30 to 40 saving accounts are opened which
1992
Dep shows the consistency of the Bank and currently bank holds around 1500 saving bank accounts.
osits
cross
Rs.1
000
cror
es
1993
Num
ber
of
Bran
ches
cross
ed
300
1996
Signs
Strat
egic
Allia
nce
with
BBL.,
Belgi
um.
Two
Nati
onal
Awa Page | 11
rds
by
Gem

12. Jewe
llery
Expo
rt
Pro
moti
on
Coun 2.OBJECTIVE OF
cil
for
excel
lent
THE STUDY
perf
orm
ance
in
Expo
rt
Pro
moti
on
1998
Cash
Man
age
men
t
Servi
ces,
&
com
missi
onin
g of
VSAT
. 2.1 PRIMARY OBJECTIVE:
Gold
en • To thoroughly study the products & services of ING Vysya Bank.
Peac
ock • To compare the banking products and services offered by ING Vysya Bank and other
Awa private banks (ICICI & HDFC)
rd -
• To study the customer’s expectations, behavior, responses & preferences for various
for
saving accounts of ING Vysya Bank.
the
best • To study the marketing strategies adopted by ING Vysya Bank to maintain & increase its
HR market share & to retain its customers.
Pract
ices
by Page | 12
Instit
ute
of

13. tors.
Rate
d as
Best
Dom
estic
2.2 SECONDARY OBJECTIVE:
Bank
in • To study banking operations.
India
by • To get the knowledge about marketing strategies of bank.
Glob
al
Fina
nce 2.3 DURATION OF THE STUDY
(Inte
rnati Duration of the study is 14 weeks.
onal
Fina
ncial
Jour 2.4 LIMITATIONS
nal -
June • Research is only done in Dehradun city
1998
) • Research is self-financed so money is a major constraint
• Respondents are biased toward their current bank.
2000
State • Time is 14 weeks, so much of economic fluctuations are not seen
-of -
the -
art
2.5 SCOPE OF STUDY
Date
Cent
re at The scope of any study can be defined in terms of the area and the sample size which will be
ITPL, reviewed for satisfying the objective of the subject matter. The first part of the report can be
Bang
aloremade on the basis of the secondary data collected about the different saving bank accounts of
. private sector banks present in Dehradun via internet, magazines and journals.
RBI
clear
The scope of the study is in Dehradun, and around 100 people are targeted for the survey
s
setti which is done through questionnaire.
ng
up ofAs the scope of study is limited to Dehradun and to 100 people only, thus picture presented in
ING
Vysy the testimony may not be the complete picture.
a
Life
Insur
ance
Com Page | 13
pany
2001

14. Vysy
a
com
men
ced
life
insur
ance
busi
ness.
2002
The
Bank
laun
ched
a
rang
e of
prod
ucts
&
servi
ces
like
the
Vys
Vyap
ar
Plus,
the
rang
e of
loan
sche
mes
for
trad
ers,
ATM
servi
ces,
Smar
tserv
,
pers
onal
assis
tant
servi Page | 14
ce,
Save
&

15. re,
an
acco
unt
that
provi
des
accid
ent
hosp
italiz
LITRATURE
ation
and
3.
insur
REVIEW
ance
cove
r,
Sam
band
h,
the
Inter
natio
nal
Debi
t
Card
and
the
mi-
b@n
k net
bank
ing
servi
ce.
2002
ING
take
s
over
the
Man
age
men
t of
the
Bank
from Page | 15
Octo
ber
7th ,

16. 2002
RBI
clear
s the
new LITRATURE REVIEW
nam
e of
the
Bank
as 3.1 Types of saving accounts offered by ING Vysya Bank
ING
Vysy
a A) ORANGE SAVINGS ACCOUNT:
Bank
Ltd, This account is the basic product of ING Vysya Bank. In this account minimum cash balance
vide required to open an account & the Quarterly Average Balance requirement is Rs5000. Some of
their
lette the major features and benefits of this account are:
r of
17.1
2.02 FREE
• Free issue of International Debit Card.
2003 • Unlimited ATM transactions at over 25,000 (Cirrus/Cashnet) ATM’s in India, where QAB
Intro
duce is maintained.
d • Shopping convenience at over 2 Lakh merchant locations, with the ING Vysya
cust
ome International Debit card.
r • Unlimited ATM transactions at over 196 ING Vysya ATM’s.
frien
dly • 2 Demand Drafts with a value not exceeding Rs.50,000 per annum, where QAB is
prod maintained.
ucts
like • Unlimited usage of payable at par (PAP) Cheques.
Oran • Transfer of funds across all branches.
ge
Savi • National Electronic Funds Transfer (NEFT) through the internet banking channel.
ngs,
• Electronic Bill Payment service.
Oran
ge • Smartserv - Personal Assistance Service.
Curr
ent • Statement of Account through E-mail.
and • Mi-b@nk - Internet banking facility.
Prot
ecte • RTGS (Real Time Gross Settlement) transactions at all branches.
d • AAA Cash deposit (Customers) – Free up to 2 transactions per month and a value limit
Hom
e
Loan Page | 16
s

17. Intro
duce
d
Prot
ecte
d of Rs. 50,000/-
Hom
e
Loan
s-a
hous BENEFITS
ing • Free unlimited access to 25,000 + other bank ATM’s- enhanced accessibility.
loan
prod • Free multi branch, Multi-city banking convenience.
uct
• Payable at par Cheques.
• Smartserv- Personal Concierge Services.
2005
Intro
duce
d
Solo B) ING FORMULA SAVINGS ACCOUNT:
- My
Own
Acco This is the product of ING Vysya Bank which is targeted towards the upper middle class
unt segment of the society. Basically the targeted segment is the age group between 18-40 yrs. This
for
yout product has its significance particularly in Metropolitan/A grade cities. This product is also
h useful for people who travel frequently particularly to Metropolitan/A grade cities.
and
Cust Minimum cash balance required to open this account and Quarterly Average Balance
ome requirement is Rs. 25000/-
r
Servi
ce Some of the major features and benefits of this account are :
Line
– • Maximum withdrawal limit from ING’s ATM or any other bank’s ATM is Rs. 50,000.
Phon • Maximum shopping limit through ING’s ATM/Debit card is Rs. 75,000.
e
Bank • Free Payable at Par cheques.
ing
• Exclusive F1 themed, Internet Banking services.
Servi
ce • Formula 1 International Debit card.
• Free sms alerts on transactions above Rs. 1500.
2006
Bank
has SPECIAL BENEFITS CARD
netw FUEL GAUGE
orke
d all
Page | 17
the
bran
ches
to

18. tate
AAA
trans
actio
ns
i.e. • Fill fuel across any petrol pump in India and get the 2.5% surcharge waived.
Any
wher
e,
Anyt
ime
& SPEED LAP
Anyh
• Shop using your ING Formula savings account and get Formula One merchandise.
ow
Bank
ing
RACE DAY
• Whenever there is a Formula 1 race anywhere in the world, there is a race for u as
well. Shop using your ING Formula debit card on the day of the race and top 25
spenders for the race day wins vouchers from ING.
• 3 winners – Gift vouchers worth Rs. 5000/-
• 10 runner ups- Gift vouchers worth Rs. 2000/-
• 12 second runner ups- Gift vouchers worth Rs. 1000/-
C) PLATINA ACCOUNTS
This product (account) of ING Vysya Bank is a special product for special class of customers.
This can also be termed as Preferred Platina Banking. This product is designed to reduce the
efforts put in handling banking and financial needs. This product has special features which are
mainly meant for business class people who have to make large payments and have regular
transactions. The Platina account holder becomes the preferred customer of the bank.
The average quarterly balance (QAB) is Rs. 100,000
Features:
• Dedicated Relationship Manager
Our dedicated relationship managers can help you manage your money; while you pursue
your passion, be it business or pleasure.
• Wealth Management Service
Page | 18

19. Our preferred banking services offer you customized financial strategies on how to invest
and where to invest based on simple financial risk profiling.
• ING Platina Debit Card
Use your ING Platina Gold Debit Card and withdraw cash up to Rs1 lac per day from any
ATM, Avail a 1% cash back on shopping with your Debit Card.
• Account Representative Services
Now when you are out building a business empire or taking that well deserved vacation,
just nominate someone else to do your routine banking enquires.
• Preferential rates on ING products
Get more out of the Platina relationship. Avail preferential rates on Demat, Bank
Lockers, Personal and Home loans.
3.2 Types of saving accounts offered by other private banks
ICICI BANK
A) ICICI Savings Bank Account:
ICICI Bank is also offering the saving accounts as their products.
• The ICICI Bank International debit card is a debit-cum-ATM card provides with the
convenience of acceptance at merchant establishments and cash withdrawals at ATM.
• Money Multiplier Facility
• Internet Banking is offered free of cost.
• Anywhere Banking facility entitles the account holder to withdraw or deposit cash upto
a limit of Rs.50,000 across all ICICI Bank branches.
• An average quarterly balance of Rs.10,000 only in metro and urban locations.
• Nomination facility is available.
• Interest is payable half-yearly.
Page | 19

20. Third party withdrawal limit is only Rs 15,000 and free demand draft making facility for a
month is only up to Rs 10,000. Free withdrawal limit from ATM card is only up to Rs 25,000 in
all accounts.
B) GOLD PRIVILAGE ACCOUNTS
The Gold Privilege Account brings the customer exclusive benefits, especially created for
valuable customers. The minimum quarterly average balance (QAB) requirement for Gold
Privilege account is Rs.50,000. Non-maintenance of the required QAB in any quarter attracts a
charge as per the following guidelines:
If QAB is between Rs.50,000 and Rs.25,000, charge of Rs.250 will be levied
If QAB is between Rs.25,000 and Rs.10,000, charge of Rs.500 will be levied
If QAB falls below Rs.10,000, charge of Rs.750 will be levied
Your Gold Privilege account entitles you to select privileges and offers:
BENIFITS
• Jump Queue facility in ICICI Bank branches.
• Free usage of payable-at-par chequebook.
• International VISA Gold debit card with higher daily withdrawal and spend limit.
• Waiver of annual fee for Debit card.
• Free and Unlimited access (cash withdrawals and balance enquiry) to any Bank's ATM in
the country using ICICI Bank International Gold Debit card.
• Waiver of DD/PO charges for up to Rs.100,000 per day.
• Waiver of Anywhere Banking charges across all ICICI Bank branches.
• Priority Processing through ICICI Bank Phone Banking.
• Preferential rates for Gold Coins.
• Better rates for Foreign Exchange Service.
Page | 20

21. • Discounts on Safe deposit locker facility.
• Special asset deals from time to time.
C) TITANIUM PRIVILAGED ACCOUNT
This product from ICICI is mainly to serve privileged customer (upper class)
In constant endeavor to fulfill all the banking needs and enhance exclusivity ICICI Bank
launched Titanium Privilege Account - tailored to take care of customer’s banking and
investment requirements and status. This account offers a dedicated Branch Relationship
Manager supported with a Phone Banking Relationship Manager.
Customer can realize the benefits of a Titanium Privilege Account on the basis of his total
relationship value (TRV) with the bank. Customer need to maintain a TRV of between Rs. 5 lac
and Rs. 10 lac and a quarterly average balance (QAB) of Rs.75,000. In addition to this, there is
waiver of QAB charges, subject to FD of min. 3.75 Lac.
BENIFITS
• Branch Relationship Manager supported with Phone Banking Relationship Manager.
• Priority processing at all ICICI bank branches and through customer care.
• A higher daily withdrawal and spend limit on a Titanium debit card.
• Free International Titanium Debit Card.
• Unlimited free access to any bank’s ATM throughout the country.
• Free usage of multi-city cheque book.
• Free physical monthly account statement.
• Anywhere banking.
• Complete waiver on DD/PO charges.
• Preferential rate on purchase of ICICI Bank Pure Gold.
• Preferential rates on purchase of foreign exchange with a complete waiver on
Page | 21

22. commission charges.
• Discounted rates on safety locker charges.
HDFC BANK
A) REGULAR SAVING ACCOUNT
An easy-to-operate savings account that allows customer to issue cheques, draw Demand
Drafts and withdraw cash. Customer can check balances from the comfort of his home or office
through NetBanking, PhoneBanking and MobileBanking.
Withdrawal of cash from any of the 3275 ATM centers spread across the country.
FEATURES & BENEFITS
• Facilities like NetBanking and MobileBanking.
• Customer can check the account balance, pay utility bills or stop cheque payment,
through SMS.
• Personalized cheques with customer’s name printed on each cheque leaf for enhanced
security.
• Advantage of BillPay, an instant solution to all frequent utility bill payments.
Instructions for payment over the phone or through the Internet.
• Customers can avail the facilities like Safe Deposit Locker, Sweep-In and Super Saver
facility on their account.
• Free cash withdrawals on any other Bank's ATM
• Free Payable-at-Par chequebook, without any usage charges upto a limit of Rs.50,000/-
per month.
• Free InstaAlerts for all account holders for lifetime of the account.
• Free Passbook facility available at home branch for account holders (individuals).
• Free Email Statement facility.
Page | 22

23. B) SAVING MAX ACCOUNT
Welcome to a world of convenience. HDFC has presented SavingsMax account, loaded with
maximum benefits to make banking experience a pleasure. By maintaining an average quarterly
balance of just Rs. 25,000/- customer can get a host of premium services from HDFC Bank.
FEATURES & BENIFITS
• Free unlimited transactions: Cash withdrawal and balance enquiry, at all HDFC Bank
ATMs & on any other Bank's ATM using your HDFC Bank Debit Card.
• Free Gold Debit Card for primary account holder for lifetime of the account. Gold Debit
Card for other account holders at Rs 250/- p.a.
• Free Woman's Advantage/International Debit Card for all account holders for lifetime
of the account.
• Free Payable-at-Par (PAP) chequebook, without any usage charges upto a limit of 1 lac
per month.*
• Free Demand Drafts on HDFC Bank locations, upto a limit of 50,000/- per day at home
branch.
• Self/Third Party Cash Deposit/Withdrawal at non-home branches, upto Rs 50,000/- per
day free. Above Rs 50,000 a charge of Rs 2.90 per thousand on the full amount would
be applicable.
• Optional sweep out facility to transfer extra savings to a Fixed Deposit, at the threshold
of Rs.50,000/-.In the event of the balance in SavingsMax account exceeding Rs
50,000/-, the amount in excess of Rs 50,000/- will be swept out in to a Fixed Deposit
with a minimum value of Rs 25000/- for a 1year 1day period.
• Free BillPay & InstaAlerts for all account holders for lifetime of the account.
• Free Monthly Statement of Account.
Page | 23

24. • 50% off on the Locker rental for the 1st year only.
• Folio maintenance charges on Demat account free for first year.
• Free National Electronic Funds Transfer facility, NetBanking, MobileBanking.
• Free Passbook facility available at home branch for account holders (individuals).
• Free Email Statement facility
C) PREFERRED BANKING ACCOUNTS
This account has been offered by HDFC for its preferred customers, so as to give special
benefits to them. The minimum quarterly available balance (QAB) that has to be maintained in
this account is Rs. 2,00,000
FEATURES & BENIFITS
• Dedicated Relationship Manager
• Customized Investment Solutions
• Investment Options
• e-Broking
• Expedited Tax Payments
• Relationship Pricing
• Business Solutions
• On-demand exclusive privileges
• Annual Service Charge Waiver
Page | 24

25. 3.3 CLASSIFICATION/ CATEGORIZATION
So, for convenience of the project and comparison the different accounts can be classified
into three categories:
Category A Category B Category C
1. PLATINA ACCOUNT FORMULA SAVING ORANGE SAVING
(ING) ACCOUNT (ING) ACCOUNT (ING)
2. TITANIUM PRIVILAGED GOLD PRIVILAGED SAVING ACCOUNT
ACCOUNT (ICICI) ACCOUNT (ICICI) (ICICI)
3. PREFERRED BANKING SAVING MAX REGULAR SAVING
ACCOUNT/PLATINUM ACCOUNT (HDFC) ACCOUNT (HDFC)
(HDFC)
Service quality
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26. ING Vysya Bank provides the top notch quality to its customers. They have so many special
features that no other banks provide till date, like:
1. Special cabin/room for its customers to wait and relax when there is a rush or when
customer is asked to wait for some time.
2. Fastest RTGS and NEFT services, which takes place within minutes.
3. A well behaving staff and special highly sensitive customer care department. This is
head by a well efficient customer care manager.
4. Account verification with in promised 5 days.
5. Working hours from 10 a.m. to 6 p.m. (7 in p.m. if any customer is in need)
6. Doing things in the right way at right time.
7. It is the only Bank which provides the facility of withdrawal of 1 lakh rupees from any
ATM at one go.
3.4 FINANCIAL FIGURES W
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27. In Rs. Crores Q3 Q3 % YTD YTD %
2008-09 2007-08 growth 2008 2007 growth
Net Interest Income 172.7 144.9 19.2% 487 357 36.1%
Other Income 149 95.7 55.9% 400 279 43.3%
Total Income 321.8 240.6 33.8% 887.8 637.5 39.3%
Operating Costs 215.3 158.9 35.5% 585.0 438 33.6%
Operating Profit 106.5 81.7 30.4% 302.8 199.5 51.8%
Operating Profit
after Exceptional 106.5 100 6.4% 302.8 219.8 37.7%
Items
Provision & 21.6 27.7 -22.1% 84.7 33.9 150.1%
Contingencies
Profit before Tax 84.9 72.4 17.3% 218.1 186 17.3%
Provision for Taxes 32.8 29.6 11% 78.4 71.9 9.1%
Profit after Tax 52.1 42.8 21.8% 139.7 114 22.5%
3.5 Growth at ING Vysya Bank.
In terms of pure numbers, the performance over the decades can better be appreciated from
the following table:
Rs. in millions
Year Networth Deposits Advances Profits Outlets
1940 0.001 0.400 0.400 0.001 4
1950 1.40 5.30 3.80 0.09 16
1960 1.60 20.10 13.50 0.13 19
1970 3.00 91.50 62.80 0.74 39
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28. 1980 11.50 1414.30 813.70 1.13 228
1990 162.10 8509.40 4584.80 50.35 319
2000 5900.00 74240.00 39380.00 443.10 481
2001 6527.00 81411.10 43163.10 371.90 484
2002 6863.24 80680.00 44180.00 687.50 483
2003 7067.90 91870.00 56120.00 863.50 456
2004 7473.20 104780.00 69367.30 590.01 523
2005 7094.00 125693.10 90805.90 (381.80) 536
2006 10196.70 133352.50 102315.20 90.6 562
2007 11101.90 154185.70 119761.70 889.0 626
2008 14260.00 204980.00 146500.00 1569.00 677
Even in the recessionary period the ING Vysya Bank is going in profits. While other banks are
losing a big percentage of their expected profits.
ING Vysya Bank Q3 Profit up 22%
Continued Profit Growth sustained by Strong Fee Income Performance
The Board of Directors of ING Vysya Bank Ltd. approved the unaudited financial results of the
Bank for the quarter and period ended 31 December 2008 at its meeting in Bangalore at 23rd
January 2009.
3.6 FINANCIAL HIGHLIGHTS
Q3 Performance
Net Profit after Tax (PAT) for the quarter ended 31 December 2008 increased by 22% to
Rs.52.1 Crores from Rs.42.8 crores for the quarter ended 31 December 2007 and Profit before
Tax (PBT) rose 17% to Rs.84.9 crores from Rs.72.4 crores.
However, excluding the impact of exceptional items reported in the quarter ended 31
December 2007, PAT grew by 70% and PBT by 57% over the same quarter last year.
Net Interest Income (NII) was up 19% to Rs.172.7 crores from Rs.144.9 crores and Fee & Other
Income increased by 56% to Rs.149.1 crores from Rs.95.7 crores in the prior year.
Nine months ended December’08
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29. The PAT for the period ended 31 December 2008 increased 23% to Rs.139.7 crores from
Rs.114.1 crores for the period ended 31 December 2007 and PBT grew 17% to Rs.218.1 crores
from Rs.186.0 crores.
However, excluding exceptional items reported in the previous year, PAT increased by 40% and
PBT by 32% over the corresponding period last year. NII grew 36% to Rs. 487.2 crores from Rs.
357.9 crores and Fee & Other Income was up 43% to Rs. 400.6 crores from Rs. 279.6 crores in
the previous year.
3.7 Business Highlights
Total Deposits grew 25% to Rs. 22,401 crores as at end December 2008 from Rs.17,871 crores
the year before. Current and Savings (CASA) deposits rose 8% to Rs.5,819 crores as at end
December 2008 from Rs. 5,406 crores as at end December 2007.
Advances grew 19% to Rs.16,014 crores in December 2008 from Rs. 13,409 crores in December
2007. Total Assets of the bank registered a 30% growth to Rs.29,050 crores. The Credit Deposit
Ratio was at 71.5% in December 2008 against 75.0% in December 2007.
The Gross NPA ratio and Net NPA ratio were at 1.84% and 1.09% respectively as at 31
December 2008 compared to 1.81% and 0.71% respectively as at 31 December 2007. The net
worth of the Bank as at 31 December 2008 stood at Rs.1,568 crores compared to Rs. 1,459
crores as at end December 2007 and the Capital Adequacy Ratio stood at 10.72% in December
2008. In October 2008, the bank increased its capital through the issue of Tier 1 Perpetual debt
amounting to approx. Rs.95 crores. Subsequent to the quarter end, the Bank raised an
additional Rs.200 crores of Upper Tier 2 capital which has been subscribed entirely by ING
Group.
3.8 ING Vysya FOUNDATION (ING – CSR)
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30. World over ING has strengthened its name as a good corporate citizen. The ING Chances for
Children initiative (CFC) a global program in partnership with UNICEF is to educate 50,000
underprivileged children in three countries, Ethiopia, India and Brazil by 2008. In India the focus
is primarily in the districts of Dharampuri and Krishnagiri in Tamil Nadu. Through the national
Child labor Elimination (NCLP) bridge schools, ING provides much needed support to UNICEF, to
fund, monitor, and provide children with quality primary education
The Indian arm of the Chances for Children programs is run by the support of ING business
units in India (ING, ING Life Insurance and ING Investment Management) through the ING Vysya
Foundation.
The Foundation was set up almost 3 year ago and was actively involved in the post Tsunami
rehabilitation of the victims. ING Group set up a dedicated Tsunami Support account. In India,
the Foundation partnered with five NGO providing much needed financial support, from
rebuilding of schools to providing fishing boats, giving much needed hope to destroyed lives.
The Indian chapter of CFC involves the partnership of the Foundation with 7 NGO working in
primary education. Not only does the Foundation provide much needed financial support to
these organizations but also runs strong voluntary programs giving the employees a chance to
meet the children, work with them and take ownership and responsibility for the vision of its
partners. The Foundation creates systems that ensure CSR activities within the organization.
Various programs are initiated with the employees, whether it is taking 100 children for a day
out to the planetarium or watching a film with them. It collectively influences the culture of the
organization; and also provides the employees with an opportunity to contribute to the vision
of the organizations CSR.
Recently ING Vysya Foundation launched its initiative “Run Ricky Run”. In this initiative, for
every run Ricky makes the Foundation will sponsor one child to go to school through its
association with its NGO partner in Bangalore, SUKRUPA.
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31. Addressing health care, poverty or human rights issues, there is no better way than through the
corridors of education. The main focus of the Foundation in India is to support not for profit
organizations working in the area of education.
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32. DATA 4.
INTERPRETATION
AND ANALYSIS
4.1 Comparative analysis of saving accounts:
a. Basic Saving Accounts (Category C)
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33. PARTICULARS HDFC ICICI ING Vysya
ACCOUNT NAME Saving Regular Savings Orange Savings
Account Account Account
AVERAGE QUATERLY
BALANCE Rs10,000 Rs 10,000 Rs. 5,000
AQB MAINTAINANCE Rs 750.00 per Rs 750.00 Rs 750.00 per
quarter Only. per quarter quarter Only.
CHARGES
Only.
SWEEP OUT FACILITY Available N.A Available
3 per month
FREE TRANSACTIONS from N.A Unlimited from
SBI/Andhra any bank’s ATM
Bank ATM
THIRD PARTY CASH N.A Rs.15,000 Rs.25,000 per day
WITHDRAWL/DEPOSIT per day
NET BANKING Free Free Free
MOBILE BANKING Free Free Free
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34. b. Preferred Saving Accounts (Category B)
PARTICULARS HDFC ICICI ING Vysya
Account name SAVING MAX GOLD FORMULA SAVING
ACCOUNT PRIVILAGED ACCOUNT
ACCOUNT
AQB (Average 25,000 50,000 25,000
Quarterly Balance)
Free DD Upto N.A. Upto 50,000/qat.
50,000/qat
Third Party Cash Upto 15,000 N.A. Upto 25,000
Deposit
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35. Smart-serv N.A. N.A. Present
Free Transaction 6 in a year N.A. Unlimited
Direct 12 annual passes
Special Features Bill Payments Preference of famous night
from accounts rates on gold clubs and
coins restaurants, across
India
Jump Que Facility Present N.A. Present
c. Privileged Saving Accounts (Category A)
PARTICULARS HDFC ICICI ING Vysya
Account Name Privileged Titanium Platina
Platinum
QAB (Quarterly 2,00,000 75,000 + TRV 1,00,000
Available Balance) of 5 to 10 lac
DD/PO Wavier Available upto N.A. Available upto
50,000 50,000
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36. PAP books Unlimited unlimited unlimited
One Lakh Cash
N.A. N.A. Available*
withdrawal from any
ATM
Cash Back Offer on N.A. N.A. 1 to 2 %
Shoping*
Cashnet enabled N.A. N.A. Available
credit/debit card
4.2 FACTS AND PEOPLES’ PERCEPTION
A) SAVING ACCOUNTS OF RESPONDENTS IN THE BANK
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37. As per the data collected and analyzed, most of the people in Dehradun have chosen ICICI Bank
for their banking. It is because ICICI was the first private banking player in the newly formed
state (U.K.) they hold the accounts of 51% of the respondents. Next rank comes to HDFC with
31% of accounts. ING has captured 18% (speculative) of the market share within 6 months of its
establishment in the State.
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38. B) KNOWLEDGE OF THE ACCOUNT AND SERVICES ASSOCIATED.
C) QUARTERLY AVAILABLE BALANCE THAT HAS TO BE MAINTAINED
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39. It is the amount which one has to maintain for a single quarter. 45% of the respondent were
maintaining 5,000 rupees. 35% were maintaining nothing, 12% were holding 10,000 as their
QAB. And 8% were holding more than 10,000 rupees.
Out of 45% of the respondents who maintain 5,000 rupees as their QAB, most of the
respondents are having account in ICICI and ING Vysya bank.
D) BANK PROVIDING SPECIAL FACILITY LIKE smart-serve
Smart serv is type of special services in which a person can send/present gifts to any of his/her
known in any of the city by just telling your banker the address of the person. The gift will be
purchased and will be delivered by the bank only, and the amount for the gift will be
automatically deducted from the sender’s account.
10% of the people who were really enjoying some of the special services provided by bank
were found to be associated with ING Vysya Bank.
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40. E) PEOPLES’ RATING: ACCORDING TO THEIR PERCEPTION
51% of the people have rated ICICI Bank as 1st, this is because of wide market share of ICICI
Bank. 2nd Rank has been awarded to HDFC Bank by approximately 23% of respondents. 3rd
rating is given to ING Vysya bank by approx. 15% of the respondents. And last comes AXIS Bank.
Thus ING Vysya is better than AXIS and HDFC Bank in its Marketing Strategy.
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41. F) PEOPLE’S MOST FREQUENT POINTS OF INTERACTION WITH BANK
All of the bank customers interact most frequently with the bank by doing their transactions
from ATM. 35% of them visit branch quite often and 35% of the respondents also go for phone
banking. Internet Banking is the 2nd most point of interaction of bank and the customer. People
who use Internet banking and mobile banking were found to be associated mainly with ICICI
and ING Vysya Bank. ING Vysya is having best Internet banking attributes. This implies the
technological advancement in Dehradun Citizens.
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42. G) PERCEPTION OF RESPONDENTS ABOUT THEIR BANK/S
4 - Most/excellent 3- Reasonably good
2- Fair 1- Disappointing
1. Most of the people who are associated with ING Vysya Bank found their Bank charges
quite nominal and well justified. About 97% of the ING Vysya customers state the same. Even
AXIS Bank is charging best rates of charges to its customers. ICICI customer agrees that they
think of getting better bank charges.
2. People have ranked ICICI at the top notch for its 12hrs. working hours 8 to 8. Even
ING Vysya operates from 10 to 7, which is 2 hrs. more than HDFC and AXIS. Therefore ING
Vysya Bank has an edge over AXIS and HDFC as per working hours.
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43. 3. 80% people have again rated ICICI as one of the best banks location wise. Its large no.
of branches provides access to bank anywhere. As ING Vysya has got no other branch in
Uttrakhand it has been rated lowest as per most of the respondents and ING Vysya customers.
According to respondents even AXIS and HDFC bank have no. of branches and are located at an
accessible location.
4- Most/excellent 3- Reasonably good
2- Fair 1- Disappointing/least
4. Almost all respondents who are in connection with ING Vysya Bank have rated it best
in the customer care services. 55% of the respondent who are associated with HDFC Bank have
rated HDFC, reasonably good in customer care services. But customer of ICICI and AXIS Bank
are not very much delighted with customer care services of their bank. This way ING Vysya has
got an advantage of delivering excellent customer care services.
5. In case of “Behavior of the Staff” most of the ING Vysya customers have rated ING the
best. Almost 100% of the ING customers are well satisfied with their banker’s behavior. On the
other hand 72% customers of ICICI bank and other respondents as well have ranked ICICI as
very disappointing as per behavior of the staff. Most of them stated that when they visit
branch, any of the employee there, hardly pays full attention towards them. Even some of the
preferred customers have to stay in a cue or have to wait for long to get their job done by the
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44. bank. HDFC and AXIS Bank has been rated reasonably good by the respondents as far as
behavior of the staff is concerned.
6. With the criteria of Variety of Accounts, people have rated ICICI as the top one. This is
because ICICI is having bank accounts for the different customers with different needs. They
have account for old age citizen, pension account, kids account of various types and many
more. Whereas ING Vysya has been rated least, because they are operating with only 3 types of
saving accounts in the city. They do have various other kinds of accounts but these are not
available in Dehradun. This is probably due to very less time of their establishment. They are
not providing the full services because its been just 6 months that they have established in
Uttrakhand (DEHRADUN).
4- Most/excellent 3- Reasonably good
2- Fair 1- Disappointing
7. Most of the ING Vysya customers are happy with processing speed of their banking
transactions. ING Vysya Bank boasts about delivering the commitment. According to the ING an
account takes 5 days for activation.
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45. 8. The queries handling is done very well by ING Vysya bank according to the
respondents. 57% of the ICICI customers are unhappy with the bank regarding their queries
handling. Whereas AXIS Bank has been rated good.
H) VARIABLES INFLUENCING ACCOUNT OPENING IN A PARTICULAR
BANK.
1) I will prefer, if my friend recommends me to open an account in a
particular bank. ( WORD OF MOUTH)
According to the respondents, they mainly disagree for opening a bank account on their
friend’s or relatives’ recommendation. And to 27% of the respondents it doesn’t matter.
Very few people agree to the recommendation. This means that the WORD OF MOUTH
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46. is not an essential marketing channel for opening an account in bank. People first try to
find the real facts by their own.
2) I am very cautious about Average Quarterly Balance non-maintenance
charge. (QAB)
Many people are bothered about their QAB, and to 23% people QAB doesn’t mean
much. According to them they were never charged for not keeping enough QAB.
Page | 46

47. 3) I am generally motivated by the television add for saving bank account.
Most of the respondents were unaware of the new advertisements of various banks.
For them it hardly plays any important role in capturing market share.
4) I am generally bothered about the distance between my home and
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48. Most of the respondents were very much bothered about the distance from their bank and
home. That implies that PROXIMITY to bank is one of the very BOLD VARIABLE for account
opening.
5) I prefer saving bank account as it is popular.
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49. 6) I give importance to DD and cheque facility in saving bank account.
7) I give preference to instant alert, net banking and phone banking.
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50. 8) I give importance to the third party cash deposits and withdrawal.
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51. Page | 51

52. 5. OBSERVATIONS
&
RESULTS
The study conducted directs toward the Private Banking scenario in the city DEHRADUN. Study
suggested that a large market share has been captured by ICICI Bank and HDFC Bank. Out of
two ICICI is enjoying the maximum market share. This is probably because of the reason that
ICICI was the first private bank in the state as well as in city.
Most of the people know about the account and services associated with it. Most of the people
are maintaining 5,000 rupees as QAB in their private banking account, but most of them except
ING Vysya customer are unaware of the special facilities available.
People have ranked ICICI bank as best in the city. This is may be due to the oldest persistence of
ICICI bank in the city. They have rated HDFC as 3rd and ING Vysya as 2nd.
Almost everyone comes in contact with their bank by the use of ATM machines. 80% of the
respondents were using internet banking that implies high literacy rate in the city.
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53. People think that the staff of ICICI does not behave well with their customers but ING Vysya
customers are glad with the staff of ING Vysya Bank. But on the other hand ICICI customers are
very happy with the working hours of ICICI bank. HDFC customers are a bit unhappy with the
working hours of their bank.
People are very much bothered by the distance between their home and the bank. They
believe that this a major issue which influence the customer to open an account in any bank.
Most of the people are not entertained by the television advertisements about various banks.
Even word of mouth has not been proved as strong marketing channel about banking. It implies
that for banking customer is looking at the commitment, real facts, distance between their
home and bank, behavior of the banker, QAB and many more.
SWOT ANALYSIS
Strengths Weakness
• ING as one on the biggest financial • Very few branches
MNC. 7th in 500 fortune • Less variety of financial/banking
• Only foreign bank which has acquired products
an Indian private bank (Vysya Bank) • Location
• Higher rate of interest than other
private banks
• Most of the financial plans are
Page | 53

54. legalized under 80(ccc)
• Top notch customer care and staff
behavior
• Unique features with different kinds of
accounts
• Working hours
Opportunities Threats
• New segment of doctors, students and • Presence of two top private banking
CAs as they like innovation in their players in the market (ICICI & HDFC)
financial needs and like to enjoy the • Large market share already captured
services. • Non willingness of Dehradun citizens to
• High class (upper strata) population of change for something new, or to try
city innovation in their banking.
• Increase in different kind of financial
products
• NGO and Public Relations
6.REFERENCES
• www.ingvysyabank.com
• www.icicibank.com
• www.hdfcbank.com
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55. • www.moneycontrol.com
• www.economictimes.com
• www.blackle.com
• www.wikipedia.com
Page | 55

56. 7.APPENDIX
Questionnaire
Page | 56

57. Comparative analysis of saving bank accounts of different
private sector banks
Dear respondent,
We are conducting a research to know the general perception and attitude of customer
towards the products & services that are offered by ING Vysya Bank & other private
banks (ICICI & HDFC) in Dehradun. The information will be valuable input for the
research and we assure you that the information will be kept confidential. We hope that
you will co-ordinate with us and give quite a few minutes from your precious time and
give the genuine answer.
Personal Details:-
Name:-
Gender :- M F
Age:-
Address:-
Occupation:- Service
Professional
Businessman
Others (Please Specify)…………..
Educational Qualification:- Under Graduate
Graduate
Post graduate
Phone no.(Optional):-
Page | 57

58. Annual Income:- Below 1 Lac
1 Lac – 3 Lac
3 Lac - 5 Lac
Above 5 Lac
1) Do you have a saving account in any of the Private banks in Dehradun ?
a) Yes
b) No
2) In which of the following banks do you have saving bank account?
1. ING Vysya Bank
2. ICICI Bank 4. Any Other Bank
3. HDFC Bank (Please Specify…………………………)
3) Do you have complete knowledge of the saving account and services associated with
that account you have?
a) Yes
b) No
c) Can’t say
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59. 4) Are you a preferred/privileged customer of your bank?
a) Yes b) No
5) How much Quarterly Available Balance (QAB) you need to maintain?
a. Nil
b. 5,000
c. 10,000
d. More than above
6) Does your Bank provides you some special services like, smart serv, mi-banking?
a. Yes
b. No
7) Please rate the following banks on the scale of 4 where 1is the least and 4 is the most
according to your perception you are having for reputation of the banks.
ING Vysya Bank ICICI Bank HDFC Bank Axis Bank
8) What is your most frequent point of interaction with the bank?
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60. • Visit Branch
• ATM
• Phone Banking
• Drop Box
• Internet Banking
• Mobile Banking
9) Please rate the following banks on the basis of your perception about the given
attributes out of 4, where 1 is the least/disappointing and 4 is the most/excellent
ING
Vysya HDFC
S.NO ATTRIBUTES Bank ICICI Bank Bank Axis Bank
1. Bank charges
2. Customer care
3. Variety of saving bank account
4. Behavior of the staff
5. Working Hours
6. Location
7. Personalized attention
8. Processing Speed
9. Grievance/queries handling
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61. 10) Please rate the following variables which influence you when it comes to open an
account on the scale of 1 to 5 where 1 is strongly disagree and 5 is strongly agree.
SRONGLY STRONGLY
SL NO STATEMENTS DISAGREE…………………………… AGREE
1 2 3 4 5
I will prefer, if my friend recommends me to open
1 an account in a particular bank.
I am very cautious about Average Quarterly
2 Balance non-maintenance charge.
I am generally motivated by the television add for
3 saving bank account.
I m generally bothered about the distance
4 between my home and the Bank.
5 I prefer saving bank account as it is popular.
6 I give importance to DD and cheque facility in
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62. saving bank account.
I give preference to instant alert, net-banking,
7 phone banking, and mobile banking.
I give importance to the third party cash deposits
8 and withdrawal.
Any other suggestions regarding the bank please mention:-
……………………………………………………………………………………………………………………………………………………………
…………………………………………………………………………………………………………………………………….
Tthank you for your cooperation for devoting your valuable time and sharing the valuable
information with us which will help us to complete our project successfully.
Place………………… Date……………………..
Signature of the respondent
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