SUMMER TRAINING REPORT

“A Study on Analysis of Product and services and Retail Working”

Undertaken at

“Axis Bank”
Submitted in partial fulfillment of the requirements for the awards of the degree of

BACHELOR OF COMMERCE (Hons)

By

Name of the student: Bhavya Vashisht

Enrollment no.: 04324488821
CERTIFICATE FROM TRAINNG MENTOR

Signature of the Guide:

Name of the Guide: Mr. Pratik

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CERTIFICATE FROM FACULTY MENTOR OF THE INSTITUTE

Certified that the Summer Training Report submitted in partial fulfillment of Bachelor of
Commerce (Hons) to be awarded by G.G.S.I.P. University, Delhi by Bhavya Vashisht,
Enrolment No. 04324488821 has been completed under my guidance and is Satisfactory to be
accepted for the program.

Date: Signature of the Guide

Name of the Guide: Mr Pratik

Designation:

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 CERTIFICATE FROM STUDENT

To Whom It May Concern

I Bhavya Vashisht, Enrolment No. 04324488821 from B.COM (H) –V Sem of the Institute
of Innovation in Technology and Management, New Delhi hereby declare that the Summer
Training Report (BCOM 311) entitled “A Study on Analysis of Product and services and
Retail Working” at Axis Bank. is an original work and the same has not been submitted to
any other Institute for the award of any other degree. A presentation of the Summer Training
Report was made on 1/11/2023 and the suggestions as approves by the faculty ware duty
incorporated.

Date: Signature of the Student

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 ACKNOWLEDGEMENT
I would like to express my special thanks of gratitude to my Project guide, Mr. Pratik as well
as Director Ma’am, Ms. Monika Kulshreshtha who gave me the golden opportunity to do
this informative project on the topic “A Study on Analysis of Product and services and
Retail Working” and for their guidance and support in completing my project.

Secondly, I would also like to thank my parents and friends who helped me with their
valuable suggestions and guidance which has been helpful in various phases of the
completion of the project.

Date:

Name: Bhavya Vashisht

Enrollment No.; 04324488821

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 TABLE OF CONTENT
S NO. CONTENT PAGE NO.

1. EXECUTIVE SUMMARY

2. CHAPTER – 1 INTRODUCTION
COMPANY PROFILE

3. CHAPTER – 2 INDUSTRY PROFILE

4. CHAPTER – 3 ABOUT THE PROJECT EXPLANATION OF

THE RESPONSIBILITIES ASSIGNED
OR
DETAILS OF FIELD PROJECT ASSIGNED WITH SAMPLE
COLLECTION PROCESS. ANALYSIS OF DATA COLLECTED

5. CHAPTER – 4 LEARNING SUMMARY FROM THE WORK

EXPERIENCE IN DEPARTMENTS AND FROM FIELD
PROJECT CONDUCTED

6. CHAPTER – 5 CONCLUDING REMARKS

7. REFERENCES / BIBLIOGRAPHY

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 EXECUTIVE SUMMARY

Axis Bank, one of India's leading private sector banks, stands as a stalwart in the
financial industry, offering a wide array of banking and financial services to its
diverse customer base. Established in 1993, the bank has emerged as a key player in
India's financial landscape, driven by a commitment to innovation, customer-
centricity, and technological advancement.
Key Highlights:

• Market Presence: Axis Bank boasts a robust nationwide presence with a vast
network of branches and digital channels, catering to the diverse financial
needs of retail, corporate, and institutional clients.
• Product Portfolio: The bank offers a comprehensive suite of financial
products and services encompassing retail banking, corporate banking, loans,
wealth management, insurance, and digital banking solutions, aiming to
provide holistic financial solutions.
• Technological Innovation: Recognized for its emphasis on technology, Axis
Bank continues to invest in cutting-edge digital initiatives, enhancing customer
experience through mobile banking, internet banking, and innovative fintech
collaborations.
• Customer-Centric Approach: Axis Bank places a strong emphasis on
understanding and fulfilling customer needs, striving to deliver personalized
solutions, superior service, and a seamless banking experience.
• Financial Performance: The bank has demonstrated consistent financial
growth, with a focus on maintaining a healthy balance sheet, prudent risk
management, and sustainable profitability.

Future Outlook:
Looking ahead, Axis Bank remains poised for continued growth and expansion,
leveraging its strengths in technology, customer-centric strategies, and diversified
product offerings. As the banking landscape evolves, the bank is geared to adapt and
innovate, maintaining its position as a frontrunner in India's dynamic financial sector.

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 CHAPTER 1: INTRODUCTION COMPANY PROFILE
Name of the Company: Axis Bank.

Office Address: AXIS BANK LTD, GURGAON CIRCLE HR DEPTT, SCO 50 & 51, OLD JUDICIAL
CIVIL LINES, SECTOR 15, GURGAON HARYANA, PIN 122001 REGISTERED OFFICE: "TRISHUL"-3RD
FLOOR OPPOSITE SAMARTHESHWAR TEMPLE, LAW GARDEN, ELLIS BRIDGE, AHMEDABAD-
380006

Email: ibrm@axisbank.com/

Phone No.: 011 26558232

Website: https://www.axisbank.com

Founders: Amitabh Chaudhry

Founded on 3 December 1993 as UTI Bank

Introduction of axis bank:

Commercial banking services which includes merchant banking, direct finance infrastructure finance,
venture capital fund, advisory, trusteeship, forex, treasury and other related financial services. As on31-
Mar-2009, the Group has 827 branches, extension counters and3,595 automated teller machines
(ATMs).Axis Bank was the first of the new private banks to have begun operations in 1994, after the
Government of India allowed new private banks to be established. The Bank was promoted jointly by the
Administrator of the specified undertaking of the Unit Trust of India (UTI - I), Life Insurance Corporation
of India (LIC) and General Insurance Corporation of India (GIC) and other four PSU insurance
companies, i. e .National Insurance Company Ltd., The New India Assurance Company Ltd., The
Oriental Insurance Company Ltd. and United India Insurance Company Ltd. The Bank today is
capitalized to the extent of Rs. 359.76crores with the public holding (other than promoters) at
57.79%.TheBank's Registered Office is at Ahmedabad and its Central Office is located at Mumbai. The
Bank has a very wide network of more than853 branches and Extension Counters (as on 30th June 2009).
TheBank has a network of over 3723 ATMs (as on 30th June 2009)providing 24 hrs a day banking
convenience to its customers. This is one of the largest ATM networks in the country. The Bank has
strengths in both retail and corporate banking and is committed to adopting the best industry practices
internationally in order to achieve excellence.
History of Axis bank:
The bank was founded on 3 December 1993 as UTI Bank, opening its registered office in Ahmedabad
and a corporate office in Mumbai. The bank was promoted jointly by the Administrator of the Unit Trust
of India (UTI),Life Insurance Corporation of India (LIC), General Insurance Corporation, National
Insurance Company, The New India Assurance Company, The Oriental Insurance Corporation and United
India Insurance Company. The first branch was inaugurated on 2 April 1994 in Ahmedabad by
Manmohan Singh, then finance minister of India

In 2001 UTI Bank agreed to merge with Global Trust Bank, but the Reserve Bank of India (RBI)
withheld approval and the merger did not take place. In 2004, the RBI put Global Trust under moratorium
and supervised its merger with Oriental Bank of Commerce. The following year, UTI bank was listed on
the London Stock Exchange. In the year 2006, UTI Bank opened its first overseas branch in Singapore.

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The same year it opened an office in Shanghai, China. In 2007, it opened a branch in the Dubai
International Financial Centre and branches in Hong Kong.

On 30 July 2007, UTI Bank changed its name to Axis Bank.

In 2009, Shikha Sharma was appointed as the MD and CEO of Axis Bank.

In 2013, Axis Bank's subsidiary, Axis Bank UK commenced banking operations.

On 1 January 2019, Amitabh Chaudhry took over as MD and CEO.

In year 2021, the Bank had reduced its stake in Yes Bank from 2.39 per cent to 1.96 per cent

Services
• Retail banking
The bank offers lending services to individuals and small businesses, along with liability products,
card services, Internet banking, automated teller machines (ATM) services, depository, financial
advisory services, and Non-resident Indian (NRI) services. Axis bank is a participant in RBI's
NEFT enabled participating banks list.

• Corporate banking
Transaction banking: Axis Bank provides products and services related to transaction banking to
customers in areas of current accounts, cash management services, capital market services, trade,
foreign exchange and derivatives, cross-border trade and correspondent banking services, and tax
collections on behalf of the Government and various State Governments in India.

• Investment banking and trustee services: The bank provides investment banking and
trusteeship services through its owned subsidiaries. Axis Capital Limited provides investment
banking services relating to equity capital markets, institutional stock brokering besides M&A
advisory. Axis Trustee Services Limited is engaged in trusteeship activities, acting as a debenture
trustee and as a trustee to various securitization trusts.

• International banking
The bank offers corporate banking, trade finance, treasury and risk management through the
branches at Singapore, Hong Kong, DIFC, Shanghai and Colombo, and as also retail liability
products from its branches at Hong Kong and Colombo. The representative office at Dhaka was
inaugurated during the current financial year

Issues and concerns

• Operation Red Spider
Main article: Operation Red Spider
An Indian online magazine conducted a sting operation which was publicised along with 2013
videos evidence showing a wide range of violations and money-laundering schemes by top
officials at a number of Indian banks, including Axis Bank. Consequently, penalties of ₹50 million
(US$630,000) on Axis Bank, ₹45 million (US$560,000) on HDFC Bank, and ₹10 million
(US$130,000) on ICICI Bank were imposed by the Reserve Bank of India.

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 • 2016 Demonetisation related money laundering
Following the 2016 Indian Banknote Demonetisation, a number of Axis Bank employees were
arrested for facilitating money laundering activities. Some media outlets highlighted the
disproportionate number of cases involving the bank, and claimed that the bank's aggressive
performance targets and internal culture fostered such activities and that the blame does not lie
solely in the hands of arrested employees.

• Initiatives
Axis Thought Factory
An innovation hub located in Bengaluru has an in-house innovation team and an accelerator
program, primarily working on artificial intelligence. With this launch, Axis Bank became the first
Indian bank to introduce a dedicated innovation lab in the country.

• Asha home loans

Asha home loans targets first-time home buyers in the lower-income segment. The product offers
loans from ₹100,000 (US$1,300)–₹1.5 million (US$19,000) in small towns (population less than
1 million) and up to ₹2.8 million (US$35,000) in larger towns (population over 1 million), to
customers with family incomes of ₹8,000 (US$100)–₹10,000 (US$130) per month and above.

• eKYC
eKYC (electronic know your customer) is an online, paperless Aadhaar card-based process for
fulfilling KYC requirements to start investing in mutual funds without the submission of any
documents. Axis Bank partnered with Visa Inc. to launch the 'eKYC' facility, and was the first
organization in India to introduce biometrics-based

THEIR LEADING TEAM:

1. CEO – AMITABH CHAUDARY

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2. Deputy Managing Director- Rajiv Anand

3. Executive Director- Subrat Mohanty

4. Chief Financial Officer- Puneet Sharma

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 CHAPTER – 2 INDUSTRY PROFILE
Banking sector: -
A bank is a budgetary middle person and Money maker that makes Money by loaning
cash to a borrower. Loaning exercises can be performed straightforwardly by giving
credit or by implication through capital market. Capital market are monetary market
for the purchasing and offering of long haul obligation or value supported securities.
These business sectors channel the abundance of savers to the individuals who can put
it to long haul beneficial utilize, for example, organizations or governments
influencing bug-to term speculations. Monetary controllers, for example, the
Securities and Exchange Board of India (SEBI) or U.S. Securities and Exchange
Commission (SEC), direct the capital market in their wards to ensure financial
specialists against extortion, among different obligations. Because of the significance
in the monetary framework and impact on national economies, banks are very directed
in perch of nations either by National Government or Central Bank.

Growth of Banking Sector

The growth of the banking sector has been a dynamic journey, influenced by various
factors such as economic changes, technological advancements, regulatory reforms,
and evolving customer needs. Here's an overview of the growth trajectory in the
banking sector:

• Technological Advancements:

• Digital Transformation: The emergence of digital technologies has

revolutionized banking operations. Online banking, mobile apps, AI-powered
customer service, and blockchain have transformed the way banks interact with
customers, process transactions, and manage data.
• Fintech Disruption: The rise of fintech companies has led to innovative
financial solutions, challenging traditional banking models. Banks have
increasingly collaborated with or adopted fintech innovations to enhance their
services.
• Regulatory Changes:

• Liberalization and Globalization: Many countries have undertaken reforms to

liberalize their banking sectors, allowing for foreign investment, easing
regulations, and promoting competition.
• Stricter Compliance Standards: Post-financial crisis, regulatory bodies have
implemented stricter norms to ensure financial stability, risk management, and
transparency in banking operations.

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 • Personalization and Convenience: Customers now demand personalized
services and seamless, convenient banking experiences accessible anytime,
anywhere.
• Focus on Security: With increasing cyber threats, customers expect robust
security measures in banking operations to protect their data and transactions.
• Mergers and Acquisitions: Banks have engaged in mergers and acquisitions to
expand their market reach, optimize operational efficiency, and gain
competitive advantages.
• Rise of Non-Banking Players: Non-banking entities like fintech companies,
payment processors, and tech giants have entered the financial space,
intensifying competition for traditional banks.
• Cross-Border Operations: Many banks have expanded internationally,
establishing branches or partnerships abroad to tap into global markets and
serve international clients.
• Diversification of Services: Banks have diversified their services beyond
traditional banking, offering wealth management, insurance, investment
banking, and advisory services to cater to varied customer needs.
• ESG Integration: Banks are increasingly incorporating Environmental, Social,
and Governance (ESG) factors into their operations, investments, and lending
decisions, aligning with sustainable practices and social responsibility.

Banking Sector in India

The banking sector in India is a dynamic and crucial component of the country's
economy. Here's an overview:

• Diverse Landscape: India's banking sector comprises various types of banks,

including public sector banks, private sector banks, foreign banks, cooperative
banks, and regional rural banks, each playing a distinct role in catering to
different segments of the population and industries.

• Regulatory Bodies: The Reserve Bank of India (RBI) is the central regulatory
authority governing the banking sector. It formulates and regulates monetary
policy, issues licenses, supervises banks, and ensures financial stability.

• Public Sector Banks (PSBs): These banks are owned and operated by the
government. They historically held a dominant position in the market and
continue to play a significant role in providing banking services to the masses,
especially in rural areas.

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 • Private Sector Banks: Private banks, including established ones like HDFC
Bank, ICICI Bank, and Axis Bank, have gained prominence for their
technological innovation, customer-centric services, and efficiency. They cater
to various segments of society, including retail, corporate, and high net-worth
individuals.

• Foreign Banks: International banks operating in India provide specialized

services, primarily to businesses involved in international trade and high net-
worth individuals. They contribute to the diversification of banking services
available in the country.

• Technological Advancements: The sector has seen rapid technological

advancements, with banks focusing on digitalization, mobile banking, online
transactions, and the adoption of fintech solutions to enhance customer
experience and operational efficiency.

• Financial Inclusion: The government and RBI have initiated several programs
to promote financial inclusion, ensuring banking services reach the unbanked
and underbanked populations. Initiatives like Jan Dhan Yojana aim to provide
basic banking facilities to all.

The Indian Banking System consists of-

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Government initiatives
The Indian government has undertaken various initiatives across different sectors to
drive economic growth, social welfare, technological advancement, and more. Here
are some prominent government initiatives:

• Make in India: Launched to promote manufacturing and position India as a

global manufacturing hub, this initiative aims to attract foreign investment,
foster innovation, and encourage the production of goods within the country.
• Digital India: Focused on digitizing government services, promoting digital
literacy, and expanding internet connectivity, this initiative aims to transform
India into a digitally empowered society and knowledge economy.
• Swachh Bharat Abhiyan (Clean India Mission): This nationwide cleanliness
campaign aims to eliminate open defecation, improve sanitation, and promote
hygiene across urban and rural areas.
• Jan Dhan Yojana: A financial inclusion program aimed at providing access to
financial services, including banking and insurance, to the unbanked
population. It seeks to ensure financial security for all by offering affordable
financial products.
• Ayushman Bharat Yojana: Launched as the world's largest government-
funded healthcare program, it aims to provide health coverage to economically
vulnerable families for secondary and tertiary hospitalization expenses.
• Skill India Mission: Focused on enhancing the skills of the Indian workforce,
this initiative aims to provide training and skill development to millions of
youth across various sectors, aligning their skills with market demands.
• Pradhan Mantri Awas Yojana (PMAY): A housing initiative aiming to
provide affordable housing to all citizens by 2022, catering to both urban and
rural areas, and addressing the housing shortage in the country.
• Startup India: Designed to nurture and support startups in India, this initiative
provides various incentives, funding opportunities, and regulatory support to
foster entrepreneurship and innovation.
• Atmanirbhar Bharat Abhiyan (Self-Reliant India Mission): Introduced to
promote self-reliance and boost domestic manufacturing, this initiative
encourages local production, reducing dependency on imports across various
sectors.

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Negotiable instrument act

The Negotiable Instruments Act, 1881 is an important legislation governing negotiable

instruments in India. Negotiable instruments are written documents guaranteeing the
unconditional payment of a specific amount of money either on-demand or at a
determined future date.

Key Aspects of the Negotiable Instruments Act:

• Definition of Negotiable Instruments: The Act defines three primary types of

negotiable instruments: promissory notes, bills of exchange, and cheques.

• Promissory Note: It is a written promise to pay a specific sum of money to a

designated person or the bearer at a future date.

• Bill of Exchange: It is an instrument that orders a person to pay a specific sum

of money to another person or the bearer of the instrument on-demand or at a
specified future date.

• Cheque: A cheque is a bill of exchange drawn on a specified banker and not

expressed to be payable otherwise than on demand.

2. Characteristics of Negotiable Instruments:

• Negotiability: These instruments can be transferred from one person to another

by endorsement and delivery, making them easily transferable.

• Holder in Due Course: A holder who receives the instrument in good faith, for
consideration, before the due date, and without any notice of defects in the
instrument becomes a holder in due course and enjoys certain legal privileges.

3. Rights and Liabilities of Parties: The Act specifies the rights, duties, and
liabilities of parties involved in negotiable instruments, including drawers, payees,
endorsers, and holders.

4. Legal Framework: The Act provides legal guidelines regarding the negotiation,
payment, dishonor, and enforcement of negotiable instruments. It outlines the
procedures and consequences of dishonor, including the right to legal recourse in case
of non-payment.

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5. Amendment and Modernization: Over the years, the Act has undergone
amendments to align with contemporary banking practices and technological
advancements. Amendments have been made to accommodate electronic clearing
systems, electronic fund transfers, and other modern payment mechanisms.

Importance:
The Negotiable Instruments Act provides a legal framework that ensures the smooth
functioning of financial transactions involving negotiable instruments. It establishes
uniformity, predictability, and enforceability in financial dealings, contributing to the
stability and reliability of the banking and financial system in India.

Understanding the provisions of this Act is crucial for businesses, financial

institutions, and individuals involved in transactions related to negotiable instruments,
ensuring compliance with legal requirements and safeguarding their rights in financial
dealing

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What is E-banking ?
E-banking refers to electronic banking. It is like e-business in banking
industry.
E-banking is also Called as “Virtual Banking” or “Online
Banking”
.
E-banking is a result of growing expectations of bank’s customers.

E-banking involves information technology based banking. Under this

I.T system. The banking services are delivered by way of a Computer Controlled
System. This system does involve direct interface with the
customers. The customers do not have to visit the bank's premises.
E-Banking is also defined as the automated delivery of new and traditional
banking products and services directly to customers through electronic.
Interactive communication channels, E-banking includes the systems
that enable financial institution customers, individuals of businesses. To
access accounts. Transact business or obtain information on Financial
products and services through a public or private network, including
the Internet.

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The population services covered under E-banking include :-
• Automated Teller Machines
• Debit Cards
• Electronic Funds Transfer (EFT) System
• Internet banking
• Mobile banking
• SMS banking
Customer's access e-banking services using an intelligent electronic
device, such as a personal computer, personal digital assistant, automated teller
machine, Touch tone telephone. While the risks and controls are similar for
the various e-banking access channels, this booklet focuses specifically on
Internet-based services.
• ECOMMERCE
• E-FINANCE
• E-BANKING
• INTERNET
• BANKING
• MOBILE
• BANKING
• OTHER
• ELECTRONIC
• CHANNEL

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1) AUTOMATIC TALLER MACHINE
What is ATM ?
On most modern ATM’s. the customer is identified by inserting a plastic
ATM card with a magnetic stripe or a plastic smart card with a chip
that contains a unique card number and some security information such
as an expiration date or CVVC (CVV). Authentications is provided by the
customer entering a personal identification number (PIN) which must match
the PIN stored in the chip on the card (if the card is so equipped) or in
the issuing financial institution’s database.
Using an A TM. Customers can access their bank deposit or credit
accounts in order to make a variety of transactions such as cash
withdrawals, check balances, mobile phones, or credit. If the currency being
withdrawn from the ATM is different from that in which the bank
account is denominated the money will be converted at an official exchange
rate. Thus, ATMs often provide the best possible exchange rates for
foreign travellers, and are widely used for this purpose.
ATM IN INDIA :-
The first ATM in India was set up in 1987 by HSBC in Mumbai. In
the following twelve years, about 1500 ATMs were set up in India. In
1997, ‘the Indian Banks' Association (IBA) set up Swadhan. the first
network of shared ATMs in India. It was managed by for five years,
and allowed India Switch Company (ISC) rdholders to withdraw
cash from any ATM in the network. For a fee if they did not have
an account with the bank that owned the ATM. In 2002, the network
connected over of the 1000 ATMs of the 53 member banks of the
association. The network was capable of handling 250,000 transactions
per day, but only 5000 transactions, worth about 100,000, took place
each day. In contrast, ICICI Bank's network of about 640 ATMs
handled transactions worth about 20,000,000 each day. After the
contract with the ISC expired, IBA failed to find a bidder to manage the
operationally uneconomical network, and shut it down on 31 December
2003.
After the collapse of Swadhan, Bank of India, Union Bank or India,
United Bank of Indian Bank, Indian bank and Syndicate Bank formed
an-sharing network called Cash Tree, Citibank, the Industrial
Development Bank of India, Standard Charted Bank and Axis Bank
formed a similar network called Cash net, Punjab national bank and
Canara Bank also created such networks.
SERVICES BY ATM :
Initially, the following basic transaction were available By the ATM

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machine.
• Cash Withdrawal
• Balance Enquiry
• Mini Statement
• Instant Fund Transfer
• 24/7 Availability
• Secure
• Better Fund Management
• Paper Less
• ATM are generally availability on 24 hour schedule every day, 7
days per week and 365 days. This suggests that you don’t need to
have any bank branch available to withdraw money.
Advantages of ATM :-
• Your cash is always safe if withdrawals are done using it. That is
mainly because ATM is operated using a secured Flag number.
• It is possible to withdraw from many regional and global banks.
• ATMs are a method of deal because they are internationally
acknowledged.
• It reduces the hustle and bustle required when performing transaction
via a teller. Since there is no usage of slides in ATMs there's no
stressful filling of forms.
• It's quicker than queuing in the lender. Even though there is an
extended queue in the ATMs, it will generally continue quicker than
with tellers.
• It may also be used in foreign countries.
2) DEBIT CARDS :-
Types of the debit cards :
1. Ru Pay Platinum
Features & benefits :-
• A daily cash withdrawals & purchase limited of INR 20000 each
• A daily ATM funds transfer limit of INR 20000
• A daily Liability Cover (CLC) of INR 10000
• Overall Purchase Protection of INR 10000
• Personal Accident cover of INR 1,00,000
• Additionally Education benefits of INR 25000 for Vidhyaarthi
account holder respectively
• NPCI Offers –
a. Concierge services
b. Fuel surcharge waiver

21
c. IRCTC cash back
d. Utility bill payment cash back
e. Domestic lounge access
2. RuPay classic
Features & benefits :-
• A daily cash withdraw & purchase limit of INR 10000 each
• A daily ATM fund transfer limit of INR 20000
• A card Liability Cover (CLC) of INR 10000
• Overall Purchase Protection of INR 10000
• NPCI Offers :-
a. Concierge services
b. Fuel surcharge waiver
c. IRCTC cash back
d. Bill payment cash back
e. Domestic lounge access
3. Visa business gold
Features & benefits :-
A daily cash withdraw & purchase limit of INR 10000 each
A daily ATM fund transfer limit of INR 20000
A card Liability Cover (CLC) of INR 10000
Overall Purchase Protection of INR 10000
Personal Air Accident cover of INR 1,00,000
Personal Accident cover of INR 1,00,000
Exclusive Offers brought to you by VISA
6. Visa gold
Features & benefits :-
A daily cash withdrawal & purchase limit of INR 5000 each for the
Bachpan Savings Account and INR 75,000 each for all other Savings
Account variants
A daily ATM fund transfer limit of INR 20000
A Card Liability Cover (CLC) of INR 75,000
Overall Purchase Protection of INR 10000
Personal Air Accident cover of INR 1,00,000
Personal Accident cover of INR 1,00,000
Exclusive Offer brought to you by VISA
3). INTERNET BANKING
The Bank will provide Internet Banking facility for its customer
providing services like statement enquiry, funds transfer, payment of bills,
prepaid recharges, repayment scheduled etc. The transaction will have a twostep
authentication process in order to secure payments. The Bank will
22
take appropriate measure to educate customers regarding the usage of such
facilities. It will also ensure that sufficient steps are taken to ensure secure
Internet banking.
Features
• Account Details : View your bank account details, account balance,
download statement and more. Also view your Loan & debit card
Account detail Details too all in place.
• Fund Transfer : Transfer fund to your own account , other AU SFB
Bank account or Other Bank account seamlessly.
• Request Service : Give a request for Cheque book, Demand Draft,
Stop Cheque Payment, Debit card Loyalty Point Redemption etc.
• Investment Services : View your complete Portfolio with the bank ,
Create Fixed Deposit , Apply for IPO etc.

4). MOBILE BANKING

Mobile Banking provides a secure, anytime, anywhere banking experience from a mobile
device by enabling access to AU SFB all rights reserved. This document is constitute
Property of AU SFB, and no part of this document may be reproduced or transmitted in any
form or by any means, electronic or mechanical, including photocopying or recording or in
any manner whatsoever without explicit consent of AU SFB. Any violation shall be treated as

23
violation of terms of employment and appropriate action shall be taken accordingly.
Company Circulation services like fund transfers, payment of utility bills and prepaid
recharges. Customers can also view the details of their banking relationship and place service
requests using mobile banking. The Bank will take appropriate measures to educate
customers regarding the secure usage of such facilities.

It will also INTERNET BANKING Money Transfer Loan Module Account History Account
Opening New Customer Data Login Mobile Balance Enquiry ensure that sufficient steps are
taken by them to ensure secure Mobile Banking The Bank will provide SMS/E-Mail alerts to
all subscribed customers for all financial transactions above a threshold limit. The Bank will
also send SMS alerts for transactions made through Debit cards. The Bank will also provide
an account Statement in the PDF format , through e-mail if requested by the customer. The
Bank will provide the balance position at agreed periodicity viz, weekly, fortnightly etc. to
current account holders with high transaction on request.

5). E - CHEQUE 
An e-cheque is the electronic version or representation of paper cheque.  The Information
and Legal Framework on the E-Cheque is the same as that of the paper cheques.  It can now
be used in place of paper cheques to do any and all remote transactions. An E-cheque work
the same way a cheque does, the cheque writer "writes" the e-Cheque using one of many
types of electronic devices and "gives" the e-Cheque to the payee electronically. The payee
"deposits" the Electronic Cheque receives credit, and the payee's bank "clears" the e-Cheque
to the paying bank. The paying bank validates the e-Cheque and then "charges" the check
writer's account for the check

6) ELECTRONIC FUND TRANSFER

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An electronic fund transfer (EFT) is a transaction that takes place over a computerized
network, either accounts at the same bank or to different accounts at separate financial
institutions.

Advantages :-
1. Time savings : Money transfer between virtual accounts usually takes a few minutes,
while a wire transfer or a postal one may Electronic Fund TRansfer Direct Deposit Payment
Direct Debit payment Wire Transfer Electronic Bill Payment take several days. Also, you will
not waste your time waiting in lines at a bank or post office.

2. Expenses control : Even if someone is eager to bring his disbursements under control, it is
necessary to be patient enough to write down all the petty expenses, which often takes a large
part of the total amount of disbursements. The virtual account contains the history of all
transaction indicating the store and the amount you spent. And you can check it anytime you
want this advantage of electronic payment system is pretty important in this case.

3. Reduced risk of loss and theft : You cannot forget your virtual wallet somewhere and it
cannot be taken away by robbers. Although in cyberspace there are many scanners, in one of
the previous articles we described in detail to make your e-currency account secure.

4. Low commissions : If you pay for internet service provided or mobile account
replenishment through the UPT ( unattended payment terminal ) you will encounter high
fees. As for the electronic payment system : a fee of this kind of operations consists of 1% of
the total amount , and this a considerable advantage.

5. User-friendly : Usually every service is designed to reach the widest possible audience, so
it has the intuitively understandable user interface. In addition, there is always the
opportunity to submit a question to a support team, which often works 24 / 7

7) NEFT (National Electronic Fund Transfer)

What is NEFT ?
National Electronic Funds Transfer (NEFT) is a nation-wide payment system facilitating one-
to-one funds transfer. Under this Scheme, individuals can electronically transfer funds from
any bank branch to any individual having an account with any other bank branch in the
country participating in the Scheme. Process :-

Step-1 : Customer fills an application form providing details of the beneficiary (like name,
bank, branch name, IFSC, account type and account number) and the amount to be remitted.
The remitter authorizes his/her bank branch to debit his account and remit the specified
amount to the beneficiary. This facility is also available through online banking and some
banks offer the NEFT facility even through the A I M.

25
Step-2 : The originating bank branch prepares a message and send the message to its pooling
centre ( also called the NEFT Service Centre )

Step-3 : The pooling centre forwards the message to the NEFT Clearing Centre (operated by
National Clearing Cell , Reserve Bank of India , Mumbai ) to be included for the next
available batch.

Step-4 : The Clearing sorts the funds transfer transaction destination bank- wise and prepares
accounting entries to receive funds from the originating banks (debit) and give the funds to
the destination banks (credit). Thereafter, bankwise remittance message are forwarded to the
destination banks through their pooling centre (NEFT Service Centre).

Step-5 : The destination banks receive the inward remittance message from the Clearing
Centre and pass on the credit to the beneficiary customers account.

8). RTGS (Real Time Gross Settlement) ‘Real Time Settlement’ ,

RTGS is the fastest possible money transfer system through the banking channel. RTGS is
typically meant for larger value transactions and the minimum amount that can be sent via
this mode is Rs.2 lakh. RTGS system does not require any physical exchange of money; the
central bank makes adjustments in the electronic accounts of Bank A and Bank B, reducing
the balance in Bank A’s account by the amount in question and increasing the balance of
Bank B’s account by the same amount. The RTGS system is suited for low-volume, high-
value transactions. It lowers settlement risk, besides giving an accurate picture of an
institution’s account at any point of time. The objective of RTGS systems by central banks
throughout the world is to minimize risk in high-value electronic payment settlement
systems. In an RTGS system, transactions are settled across accounts held at a central bank
on a continuous gross basis.

26
RTGS Process
1. Go to Branch
2. Fill out the form of RTGS available and a cheque designated “Yourself for RTGS and
transfer amount” commission amount in amount.
3. Submit the form and cheque over counter.

Please note that RTGS is only acceptable for amount greater than Rs. 2,00,000/- For amount
lesser that you may opt for NEFT or IMPS.

27
 Chapter III: Details of Field Project Assigned with Sample
Collection Process. Analysis of Data collected

"COMPERATIVE ANALYSIS OF PRODUCTS AND SERVICE OF

AXIX BANK"

OBJECTIVES
• Consumer mindfulness about the items and administrations gave by the axis
bank.
• Consumer inclination about different items and administrations.
• Customer satisfaction with the service provided by the bank.
• TO gain the knowledge of products & services of axis bank and to compare it
with
• other banks.
• Recommendation to increase customer satisfaction level.

28
LITERATURE REVIEW
• Uppal R K and Poonam Rani (2012), in their study titled Customer Perception
towards Better Banking Services in India- An Empirical Study, analyzed
customer perception about CRM, reliability, accuracy, security and transparency
among the customers of public sector banks, Indian private sector banks and
foreign banks in Amritsar, Punjab. They have found that most of the customers
are satisfied with banking services and that customer satisfaction can be
improved by ensuring more speed in rendering transactions and giving prompt
services.

• D Mishra (1997) makes a study on the performance of commercial banks in India

choosing relevant parameters like quality of service, risk management,
profitability etc. His conclusion is that the banks should try to increase quality,
balance risk management, and optimize profitability to survive and succeed. He
identifies four challenges for the bank namely competition, credit, customer and
control.

• Gaganjot Singh (1998) in his study "New innovations in banking industry — a

study of new private sector banks" views that the new private sector banks in
India are using better technology and are offering better services to the
customers. The new private banks have emerged as a model to the banking
industry in terms of service levels, ambience, technology etc. As the public-
sector banks have already established a huge customer base, they become
complacent and are slow to become customer friendly. They are also less
innovative in the use of technology-assisted customer service. Because of their
huge customer base, they feel that they can withstand competitions from new
generation banks.

• Parimal Vyas (2000) studied customers' satisfaction from the services provided
by different banks and analyzed the response of customers towards the actual
time taken by banks to complete the banking transactions. The findings of the
study revealed that nationalized banks and co-operative banks need to improve
on reducing the time taken to complete banking transactions. Comparatively the
private and foreign banks take much less time for completing their transactions.
The study suggested that the nationalized commercial banks and co-operative
banks must increase the use Of information technology and customer
relationship management to deliver standardized services to their target
customers.

29
 • Mosad Zineldin (2005) in his study "Quality and Customer Relationship
Management as Competitive Strategy in the Swedish Banking Industry" stated
that a bank had to create customer relationships that deliver value beyond that
provided by the core product. This involved added tangible and intangible
elements to the core products, thus creating and enhancing the "product
surrounding." One necessary condition for the realization of quality was the
creation of value-added services, quality measurement and control. Thus, it was
an important function to ensure the fulfillment of given customer requirements.
The key ways for building a strong competitive position were value-added
services and differentiation.

RESEARCH METHODOLOGY
• TYPE: -DESCRIPTIVE

• Follow questionnaire method

SAMPLE SIZE AND METHOD OF SELECTING SAMPLE
• I chose a sample size of 100 respondents consisting of based on judgment
sampling
• All respondents were the customers of Axis Bank. The method was simple
random sampling
DATA SOURCE
For this project both primary and secondary data were valuable sources of information
• Primary data: - such data collected first hand, either by the researcher or by
someone else, especially for the study is known as primary data.
• Secondary data: - any data, which have been gathered earlier for some other
purpose, are secondary data in the hand of researcher.

SCOPE OF STUDY
• The store blend of an association particularly the sparing records are the
foundation of each bank as a customary man is most disposed to put resources into it
because of its comfort and simple accessibility.
• This venture manages the different client concerns with respect to these and
attempts to propose suitable recommending considering conclusions.

30
 OUESTIONNAIRE LEADING TO COMPARATIVE
ANALYSIS OF PRODUCTS & SERVICES OF AXIS BANK
WITH ITS COMPETITORS

Dear respondent,
I am student of Bcom (h) studying at Institute of Innovation in technology and
Management, Delhi. The aim of this questionnaire is to survey comparative analysis of
products and services of axis bank with its competitors. I assure you the information
given by you will be kept quite confidential and it will not be misuse. It will be used for
study purpose only. You are requested to fill questionnaire.
Thank you.
Yours faithful
Bhavya Vashisht

1. Name:______________________________________________________
2. Age:______________________________________________________
3. Address:____________________________________________________
4. Occupation:__________________________________________________

5. What kind of account do you have in axis bank?

a) Saving account []
b) Fixed deposits [ ]
c) Current account [ ]
d) Others []
6. .How you find the salary/saving accounts of axis bank?
a) Very good []
b) Good []
c) Excellent [ ]
d) Satisfactory []
7.Do you have any other products of axis bank other than salary/saving account?
a) Yes []
b) No []

8.Which channel you use to excess your account?

a) Direct branch []
b) Mobile banking []
c) Net banking []
d) Phone banking []

31
.9.Which bank has ease of access (branch and ATM)?
a) Axis bank [ ]
b) HDFC bank []
c) ICICI bank []
10. Which bank offers you flexibility in its products?
a) Axis bank []
b) HDFC bank []
c) ICICI bank []

I l. Which bank is better in providing services regarding transition?

a) Axis bank []
b) HDFC bank []
c) ICICI bank []
12. Which is the area Of improvement Of axis bank?
a) Product []
b) Services []
c) Technology []
d) Update []
13. In cooperation to another bank how would you rate axis bank?
a) Excellent []
b) Good []
c) Average []
d) Poor []
e) Can't say []
14. What features/attributes, while opening an account do you expect from a bank?
a) Quick services[]
b) Proper information []
c) Working hours []
d) Less formalities []
e) Varity of product []
15. Your opinion regarding bank service provided by axis bank.
a) Highly satisfied [ ]
b) Satisfied []
c) Moderate []
d) Dissatisfied []
e) Highly dissatisfied []

32
 SURVEY

WHAT KIND OF ACCOUNT DO YOU HAVE IN AXIS BANK?

Interpretation: -
from the above graph we can see that majority (39%) people have saving
account in axis bank. While, 23% have current account and FD & other accounts are
respectively 28% and 10%. Thus, we can say that most of customers are preferring
saving account in AXIS bank.

HOW YOU FIND THE SALARY/SAVING ACCOUNTS OF AXIS BANK?

33
Interpretation: -
In above chart we can see review of customers on their saving or salary
account in axis bank majority of customer gives "good" criteria less give "very good".it
shows service quality of axis bank to its customers.

DO YOU HAVE ANY OTHER PRODUCT OF AXIS BANK OTHER THAN

SALARY/SAVING ACCOUNT?

Interpretation: -
From the above information we can interpret that many customers have other products
other than saving/salary account such like, locker, investment, OD, CC, loan, credit
card, etc.

WHICH CHANNEL YOU USE TO ACCESS YOUR ACCOUNTS?

34
Interpretation: -
Above chart shows the current trend of using channel for accessing accounts. According
to above information majority customers are accessing their accounts through walk-in
to branch less no. of customers are using other channel like, mobile banking, net
banking, phone banking. Which describes unawareness about technologies in banking
services.

WHICH BANK HAS EASE OF ACCESS (BRANCH &ATM)?

Interpretation: -
Above information is regarding review of customers on ease of access. The first number
on ease of access is HDFC and the second one is ICICI and the last is axis bank.

WHICH BANK OFFERS YOU THE FLEXIBILITY IN ITS PRODUCTS?

35
Interpretation: -
This chart shows the flexibility of bank in it's products. In this criteria HDFC is also
better and the ICICI is second and last is AXIS.

WHICH BANK IS BETTER IN PROVIDING SERVICES REGARDING

TRANSACTIONS?

Interpretation: -
This chart is better to understand regular transaction services of competitor's bank. Axis
bank is giving better service regarding transactions as compare to HDFC and ICICI.

WHICH IS THE AREA OF IMPROVEMENT FOR AXIS BANK?

36
Interpretation: -
This is also important review of axis's customer for improving their area of banking.
From the above chart we can see that axis bank should improve technologies for using
banking operations and products also.

IN COMPARION TO ANOTHER BANK HOW WOULD YOU RATE AXIS

BANK?

Interpretation: -
This Is also important which shows customer's rating for axis
bank comparing with another bank. Majority customers rated the axis bank in
"good" criteria and less in 'poor". Which shows that axis bank is giving proper
products & services to customers.

WHAT FEATURES/ATTRIBUTES, WHILE OPENING AN ACCOUNT DO

YOU EXPECT FROM A BANK?

37
Interpretation: -
This chart is also showing customer's expectations from axis bank while opening
account. 24% respondents said that they expect less formalities while opening account.
While 22% respondents said that they expect proper information, other respondent
expect quick access, variety of products and working hours of banking.

YOUR OPENION REGARDING BANK SERVICES PROVIDED BY AXIS

BANK

38
 Hypothesis testing
Step - I
• Ho: Opinion regarding bank services of axis bank is uniformed
• HI : Opinion regarding bank services of axis bank in not uniformed

Step—2
Alpha is 0.05

Step— 3
Degree of freedom (DO
n-I
= 5-1
DF=4

Step — 4 Calculation ofx2 (chi-square) = (Of-Fe)2 / Fe

When the frequency of observed data is less than 10

Therefore the 4th and 5th class is merged.

Step—5 Table values = 9.4877

Step — 6
Interpretation
As the table value is 9.4877 is less than calculated value 64.4
So, the Ho hypothesis is rejected
Alternate is accepted.

39
 FINDINGS

• The bank has good relationship with its customers. The customers are satisfied
with the relationship manager service provided by Axis Bank.

• The bank and its customers have a long-term relationship. Axis Bank has the
tendency to retain its customers at any cost. They believe that the old customer
is more profitable instead of a new one that's why they try to maintain good and
long-term relations to their customers.

• Less no. of customer uses mobile banking or net banking.

• The accounts of these three banks don 't have much difference in terms of
features but when it comes to number of branches and ATM's HDFC Bank is
ahead of the Axis Bank.

• The customers of Axis Bank are satisfied with their savings and salary accounts.

40
 RECOMMENDATION & SUGGESTIONS

AXIS Bank was one of the first private banks to launch operations in the country in
1994, after the Government of India passed a resolution in favor of privatization. An IT
savvy bank, AXIS Bank is a pioneer in adopting modern technologies in the banking
sector. It a very large network of branch offices and extension counters across the
country

• AXIS Bank needs to promote and encourage people to use internet banking

• In terms of ease of access AXIS Bank needs to increase the number of ATM's

• The Bank should be more flexible to compete with its competitors like HDFC,
ICICI.

• Mostly benefit class people lean toward the Axis bank in the correlation of
business and understudies and different class people along these lines it needs to
advance its item and administrations that are offered predominantly for the
business class individuals and understudies. Since these two class frames
significant clients of the keeping money administrations

41
 Chapter IV: Learning Summary From the Work Experience in
Departments and From Field Project conducted

Learning Summary from Internship in Axis Bank's Finance Department:

1. Understanding Financial Operations:

Working within the finance department provided a comprehensive insight into the day-
to-day financial operations of a leading banking institution. I gained exposure to
accounting practices, financial reporting, and the intricacies of managing financial
transactions within a large-scale banking setup.

2. Risk Management and Compliance:

The internship offered an opportunity to delve into risk management frameworks and
compliance procedures within the banking sector. Learning about regulatory
requirements, assessing risk exposure, and the significance of compliance in ensuring
the bank's stability was a significant takeaway.

3. Financial Analysis and Reporting:

I was exposed to the process of financial analysis, interpreting financial statements, and
generating reports vital for decision-making. Understanding how these reports are used
to assess performance, identify trends, and support strategic planning was a valuable
learning experience.

4. Exposure to Banking Products:

Engaging with various banking products, such as loans, investment instruments, and
insurance, provided practical knowledge about their functionalities, customer
engagement, and the importance of tailoring financial solutions to meet diverse
customer needs.

5. Interdepartmental Collaboration:
Collaborating with different departments highlighted the interconnectedness of
operations within a bank. Understanding how finance interacts with other divisions like
marketing, risk, and operations broadened my perspective on holistic business
functions.

6. Project Management Skills:

Conducting a field project offered hands-on experience in project management.
Planning, executing, and presenting the project honed my organizational, analytical,
and communication skills, vital for addressing real-world challenges.

42
7. Adapting to Industry Dynamics:
Experiencing the dynamic nature of the banking industry and adapting to changes in
technology, regulations, and customer preferences emphasized the need for adaptability
and continuous learning in a rapidly evolving sector.

8. Professional Growth and Networking:

The internship not only enhanced my technical skills but also provided opportunities
for professional growth and networking. Engaging with industry professionals,
understanding their perspectives, and building professional relationships was
invaluable.

9. Ethical and Responsible Banking Practices:

Witnessing the emphasis on ethical banking practices and responsible financial
management reinforced the importance of integrity, transparency, and ethical conduct
in the financial sector.

10. Career Alignment and Future Aspirations:

The internship experience reaffirmed my interest in pursuing a career in finance. The
exposure to the intricacies of banking operations and financial management has
solidified my aspirations to contribute meaningfully in the finance domain.

This summary reflects the diverse learning experiences and key takeaways gained from
your internship in Axis Bank's finance department, showcasing both technical skills and
broader insights into the banking industry.

1. Exposure to Finance Operations:

During the internship, you were immersed in various finance-related operations, such
as observing and participating in day-to-day financial activities. This exposure provided
practical knowledge of how financial transactions are processed, recorded, and
managed within the banking environment.

2. Shadowing Finance Professionals:

You had the opportunity to shadow and work alongside experienced finance
professionals within the bank. This hands-on experience allowed you to observe their
workflows, decision-making processes, and approaches to handling financial
challenges.

3. Training and Skill Development:

The internship might have included training sessions or workshops focusing on
financial concepts, banking products, software tools, and industry-specific practices.

43
These sessions aimed to enhance your technical skills and understanding of financial
instruments.

4. Project Assignments:
You were likely assigned specific projects or tasks related to finance, such as analyzing
financial data, preparing reports, conducting market research, or assisting in regulatory
compliance procedures. These projects provided practical application of theoretical
knowledge and helped in skill refinement.

5. Mentorship and Guidance:

You might have been assigned a mentor or supervisor who guided you through your
tasks, provided feedback, and offered insights into the intricacies of working in the
finance department. This mentorship facilitated your learning process and
understanding of the banking sector.

6. Collaborative Work Environment:

Being part of a collaborative work environment allowed you to interact with team
members, share ideas, and contribute to group discussions. This exposure fostered
teamwork and communication skills crucial for professional growth.

7. Networking Opportunities:
During your tenure, you likely had opportunities to interact with professionals from
different departments within the bank, enabling you to build a professional network.
Engaging with individuals from diverse backgrounds provided insights into various
facets of the banking industry.

8. Adapting to Industry Dynamics:

Working in a dynamic industry like banking exposed you to the fast-paced nature of
financial services.
9. Professional Development:
The internship experience contributed significantly to your professional development,
enhancing your understanding of the finance domain, refining your analytical skills,
and preparing you for potential career opportunities in the banking and financial sector.

Overall, your two-month internship at Axis Bank provided a comprehensive immersion

into the world of finance, offering practical experiences that complemented theoretical
knowledge and contributed significantly to your professional development within the
banking sector.

44
 Chapter V: Concluding Remarks

• Much is changing in the banking landscape — with regulation, technology,

demographics, customer expectations, greater competition and issues with
banks' own legacy business and operating kneels. The challenges are clear, even
if the karate endgame is not.

• The contemplate primarily was on the client introduction that how they think,
what they need from their banks and how they take choice heading off to any
bank.

• In this examination I found that the obligation of Axis Bank with its clients is
great, since Axis Bank essentially centers around holding their clients.

• This consider finds that anyway Axis Bank isn't the main restricted area bank
,however its huge scope of items and accessibility of choices improve it one of
the banks in India.

• The bank should give careful consideration on giving updates and should expand
the level of administration giving because the contenders of Axis are better
around there.

• The bank should attempt to expand the utilization of innovation like versatile
and net managing an account among its clients.

45
LIMITATIONS OF STUDY
• The consider depended on an exceptionally unobtrusive example measure thus
can't be called as a portrayal of the perspectives and conclusion of the larger part.

• In quickly evolving industry, examination on multi day or in one fragment can

change rapidly. The natural changes are essential to be considered to absorb the
discoveries.

• To convince the people for a proper interviewing process is also difficult.

• Compilation of data on competitor's analysis was difficult due to non-availability

of correct information.
List of Abbreviations

46
 References/ Bibliography

https://www.rbi.org.in/

http://www.axisbank.com/personal/index.aspx

http://iansuraksha.gov.in/

"Retail Banking: Facing the Future" by Boston Consultancy Group

http://www.bcgindia.com/documesnts/file15123.pdf

l. Uppal R. K (2011), India banking sector reforms: Rationale, efficacy and necessity of
third reforms,' Business Administration and Management (BAM), Prime Journals, Vol.
1(3), March 10th, 201 1, pp. 68-72.

2. Mishra, D. (1997). Fundamentals for Banks. IBA Bulletin, XIX (8), 42.

3. Singh, Gaga jot. (1998). New Innovations in Banking Industry — A study of New
Private Sector Banks. Deep and Deep Publications, New Delhi, 36-63.

4. Parimal Vyas (2000). "Measurement Of Customer Satisfaction: A Study Of Banking

Services", Business Perspectives, Vol. 4, September, pp.73-87.

5. Mosad Zineldin (2005). "Quality and Customer Relationship Management as

Competitive Strategy in the Swedish Banking Industry", The TQM Magazine, Vol. 17,
No.4, p.329.

47