PROJECT REPORT OF ORIENTAL BANK OF COMMERCE.

A REPORT ON THE “CUSTOMER SATISFACTION ” AT “ORIENTAL BANK OF COMMERCE” , BHADRAK, ODISHA, PIN756100

A report Submitted in partial fulfillment of the requirement for the Award of the degree of Master of Business Administration Administration Submitted by Mr. Chandrakanta Panigrahi MBA (BA), TRI- IV ROLL NO- 07 UNDER THE GUIDANCE OF Prof. Dr. kirti Gupta

INSTITUTE OF MANAGEMENT AND ENTREPRENEURSHIP DEVELOPMENT BHARATI VIDYAPEETH UNIVERSITY PUNE

6

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*2008-2010*

BHARTI VIDYAPEETH UNIVERSITY, PUNE

INSTITUTE OF MANAGEMENT AND ENTREPRENUERSHIP DEVELOPMENT, PAUD ROAD, ERANDWANE PUNE-38 CERTIFICATE OF COMPLETION

This is to certify that Mr. Chandrakanta Panigrahi is a bonafide student, Roll No. :-07 of MBA (BA) program of the university in this institute for the year 2008-10. As a part of the University curriculum, the student has completed the project report titled “CUSTOMER SATISFACTION” at “ORIENTAL BANK OF COMMERECE”. The project report is prepared by the student under the guidance of Dr. Kirti Gupta.

(Teacher Guide) Date: Place:

Program Co-ordinator

Director















PREFACE

Summer training is a very important part of an MBA (BA) curriculum. It

provides an

optimistic iconography for ‘Future’ existence through which students are able to see the real industrial environment which gives an opportunity to relate theory with practice.

I undertook two months training programme at Oriental Bank of Commerce (Bhadrak) and worked on the project “Customer Satisfaction at OBC acquired by me during this period of training.

“.

This report is the knowledge















ACKNOWLEDGEMENT Before I get into the depth of o f the thing, I would like to add ad d a few heartfelt words for the people who at various stages of the project development helped me by their valuable guidance. First and foremost I would like to pay my sincere gratitude which I owe to Mrs. HEMA MIRZI (course coordinator) , and Dr. KIRTI GUPTA (project guide), for their valued help and guidance which they gave me when I needed it the most. It was only due to their sincere help and efforts that I was able to end up with this project. I owe special thanks to Dr.NITIN NAIK , Director of “INSTITUTE OF MANAGEMENT & ENTREPRENEURSHIP DEVLOPMENT,” Pune and Mr. PRADEEP KUMAR PANDA (Branch Manager, Bhadrak) for his valuable co-operation and guidance in completing the project work. Last but not the least; I would like to pay our gratitude to my PARENTS, without their help and blessing I can’t take a single step in right direction.

C handrakanta Panigrahi R oll No. :-07, MBA (BA)















DECLARATION I Chandr Chandraka akanta nta Panigr Panigrahi ahi,, a studen studentt of “INSTI “INSTITUT TUTE E OF MANAGE MANAGEMEN MENT T & ENTREP ENTREPREN RENEUR EURSHI SHIP P DEVLOP DEVLOPMEN MENT” T”,, Pune Pune,, and and session (2008-10) bearing Roll No.:-07of MBA (BA) and University PRN no.:8000 80 0001 0125 258, 8, here hereby by decl declar aree that that the the proj projec ectt repo report rt enti entitl tled ed “CUS “CUSTO TOME MER R SATISFACTION” (ORIENTAL BANK OF OF COMMERCE.) is the outcome of my own work and the same has not been submitted to any college for the award.

Date:















INDEX S.NO. 1.

2.

3.

4. 5. 6. 7.

CHAPTERS

Introduction of the subject Customer Satisfaction

PAGE NO. 7-15 8

Benefits of Customer Satisfaction Customer Satisfaction Survey Customer Satisfaction Process Company Profile Introduction of the Company Management Profile Competitors

9 11 13 16-31 17 18 20

Product and Services Future of Banking in India Achievements and Awards

22 28 30

Company Mission, Vision and Value Research Methodology Statement of the problem Objective

31 32-37 34 35

Sample Size ,Methods and Data Collection

36

Limitation of the Study

37

Analysis And Interpretation Findings and Conclusion Suggestions Appendices

38-48 49 52 54-56

Bibliography

55

Customer Feedback Form

56

































CUSTOMERS SATISFACTION Customer satisfaction refers to the extent to which customers are happy with the products and services provided by a business. Customer satisfaction levels can be measured using survey techniques and questionnaires DEFINITIONS:

Customer er satisf satisfact action ion is equival equivalent ent to making making sure sure that that produc productt and servic servicee Definition Definition 1: Custom performance meets customer expectations. Definition 2: Customer satisfaction is the perception of the customer that the outcome of a

business transaction is equal to or greater than his/her e xpectation. Definition 3: Customer satisfaction occurs when acquisition of products and/or services provides

a minimum negative departure from expectations when compared with other acquisitions. Gaining high levels of customer satisfaction is very important to a business because satisfaction customers are most likely to be loyal and to make repeat orders and to use a wide range of services offered by a business There are many factors which lead in high levels of customer satisfaction including. Products and services which are customer focused and hence provide high levels of value for money.

















BENEFITS OF CUSTOMER SATISFACTION The importance of customer satisfaction and support is increasingly becoming a vital business issue as organization realize the benefits of Customer Relationship Management (CRM) for providing effective customer service. Professionals working within customer-focused business or those running call centers or help desks, need to keep informed about the latest customer satisfaction techniques for running a valuable customer service function. From small customer service departments to large call centers, the importance of developing a valued relationship with customers using CRM is essential to support customer and long-term business growth.

What Do Customers Want?

Before we begin to create tools to measure the level of satisfaction, it is important to develop a clear understanding of what exactly the customer wants. We need to know what our customers expect from the products and services we provide. Customer expectations have two types – 

Expressed



Implied

Expressed Customer Expectations are those requirements that are written down n the contract

















There are many reasons why customer expectations are likely to change overtime. Process improvements, advent of new technology, changes in customer’s priorities, improved quality of service provided by competitors are just a few examples. The customer is always right. Supplier’s job is to provide the customer what he/she wants, when he/she he/she wants wants it. it. Custom Customer er satisf satisfact action ion is custom customer’ er’ss percep perceptio tion n that that a suppli supplier er has met or exceeded their expectations.

WHAT CONSTITUTES SATISFACTION?

We cannot create customer customer satisfact satisfaction ion just by meeting meeting customer’s customer’s requirements requirements fully fully because because these have to be met in any case. However failing short is certain to create dissatisfaction Major Attributes of customer satisfaction in banking industry can be summarized as: 

Product quality



Premium Outflow



Return on Investment



Services



Responsiveness and ability to resolve complaints and reject reports.



Overall communication, accessibility and attitude.



















Satisfaction surveys

Depending Depending upon the customer customer base and available available resources, resources, we can choose a method method that is most effective in measuring the customer’s perceptions. The purpose of the exercise is to identify priorities for improvements. We must develop a method or combination of methods that helps to continually improve service.

CUSTOMER SATISFACTION SURVEYS Formal survey has emerged as by far the best method of periodically the customer satisfaction. The survey are not marketing tools but an information—gaining tool. Enough homework needs to be before embarking on the actual survey. This includes: 

Defining Objectives of the Survey



Design Survey approach



Develop questionnaires and forms



Administer Survey (Email, Telephone or Post)



Method of compiling data and analyzing the findings



Format of the report to present the findings

There is no point in asking irrelevant questions on a customer satisfaction questionnaire. The basic purpose is to find out what we are doing right or wrong. Where is the scope for improvement, where do we stand vis-à-vis other suppliers. How we can serve the customer cu stomer



















Survey forms should be easy to fill out with minimum amount of time and efforts on customer’s part. They should be designed to actively encourage the customer to complete the questions. Yet they must provide accurate data should also be sufficiently reliable for management decision making. This can be achieved by incorporating objective type questions where customer has to “rate” on scale of say 1 to 10. For repeated surveys, you could provide the rating that was previously accorded by the customer. This works like a reference point for the customer. Space should always be provided for the customers own opinions this enables them to state any additional requirements or report any shortcomings that are not cov ered by the objective questions. Normally, we deal various personnel at various levels in the customer’s organization—the buyer, user, receiving inspector, finance and purchase person etc. surveying a number of respondents for each customer gives a complete perspective of customer satisfaction. It may be necessary to device a different questionnaire for each of them.



















CONSUMER SATISFACTION PROCESS The paramount goal of marketing is to understand the customer and to influence buying behaviour. The process can be depicted as follows:

Need recognition- realization of the difference between the desired and the current situation that serves as a trigger for entire process.



Search for information.



Pre purchase alternative evaluation.



Consumption(utilization of the procured option)



Post purchase alternative re-evaluation.



Divestment(disposal of the unconsumed product and it’s remnants)



















This is not a legal document creating rights and obligations. The Code has been prepared to promote fair banking practices and to give information in respect of various activities relating to customer service. We wish to acknowledge the initiative taken by the Ministry of Finance, Government of India and Ministry of Administrative Reforms and Public Grievances for encouraging us to bring out this Code. We maintain constant consultations with our clientele through various Seminars, Customer Meets, etc. to evaluate improve and widen the range of service to customer. However, all our customers are requested to keep us informed of their experiences about the various services rendered by the Bank and feel free to comment on this Code. We intend to bring it out in many Regional Languages in subsequent years. COMMON PRACTICES FOLLOWED BY OBC BRANCHES

Display business hours.



















Accord immediate credit in respect of outstation and local cheques upto a specified limit subject to certain conditions, as advised by RBI from time to time. Provide complaint/suggestion box in the branch premises. Display address of Regional/Zonal and Central Offices as well as Nodal Officer dealing with customer grievances/complaints.







































INTRODUCTION

Oriental Bank of Commerce India was established in the year 1943 on 19th February in Lahore. After partition, Oriental Bank of Commerce shifted its Registered Office from Lahore to Amritsar paying every rupee to its departing customers. Oriental Bank of Commerce was nationalized on 15th April in 1980. Then OBC bank had 307 branches with Rs. 282.61 crores as deposits and as advance Rs. 152.69. The National Institute of Bank Management (NIBM), rated OBC Bank as "Customer Friendly" Bank.





















Corporate banking,Personal banking, Industrial finance, Agricultural finance,Financing of trade, International banking Oriental Bank Commerce has been ranked 38th amongst top 500 companies by The Economic Times.

OB C

has

earned

9th

position

among

top

50

trusted

brands

in

India.

Oriental Bank Commerce India maintains relationship with more than 200 leading international banks worldwide. OBC India has Rupee Drawing Arrangements with 15 exchange companies in UAE and 1 in Singapore.









































SCHEDULED COMMERCIAL BANKS IN INDIA (Competitors)

The commercial banking structure in India consists of: • •

Scheduled Commercial Banks in India Unscheduled Banks in India

Scheduled Banks in India constitute those banks which have been included in the Second Schedule of Reserve Bank of India (RBI) Act, 1934. RBI in turn includes only those banks in this schedule which satisfy the criteria laid down vide section 42 (6) (a) of the Act. As on 30th June, 1999, there were 300 scheduled banks in India having a total network of 64,918





















• • • • • • • • • • • • •

Central Bank of India Corporation Bank Dena Bank Indian Overseas Bank Indian Bank Oriental Bank of Commerce Punjab National Bank Punjab and Sind Bank Syndicate Bank Union Bank of India United Bank of India UCO Bank Vijaya Bank























PRODUCTS AND SERVICES

Saving Accounts























4. Furnish PAN or declaration of Form No. 60 / 61as the case may be. The minimum balance will be:-























reputed institution. ORIGINALS be shown only at the time of scrutiny of papers)/ Business address.























Minimum Amount of Deposit and balance to be maintained

Urban & Metropolitan Rs.5000/Rural & Semi-urban Rs.1000/-

V lidit

F

fS h

li it d

i d

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Scheme Credit Schemes - Flexible Housing Loan, Car Finance, Personal Loan, Credit Cards

Social Banking - Mahila Udyam Nidhi Scheme, Krishi Card, OBC Farmers Welfare Trust













































































































































































































































































































































































































PROJECT REPORT OF ORIENTAL BANK OF COMMERCE.

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