SUMMER TRAINING

REPORT
ON
ANALYSIS OF PRODUCTAND
SERVICES AND RETAIL WORKING
AT

Axis Bank Ltd Infosys Campus Branch, IT Park

Chandigarh

SUBMITTED TO: PUNJAB UNIVERSITY

FOR THE PARTIAL FULFILLMENT OF THE DEGREE OF

MASTER OF COMMERCE

SUBMITTED BY: ARUSHI

ROLL NO: 42857

M.COM II SEMESTER
 GGDSD College Chandigarh

DECLARATION
I, "ARUSHI”, student of GGDSD COLLEGE, SECTOR-32 hereby declare that the work
presented herein is genuine work done originally by me and has not been published or
submitted elsewhere. Any literature, data or Work done by others and cited in the report has
been given due acknowledgement and listed in the reference section.

ARUSHI

42875

2
 ACKNOWLEDGEMENT
The Summer Internship Program was undoubtedly a great learning experience for me and has
helped me learn immensely. I feel great pleasure in expressing my regards and profound
sense of gratitude to my faculty guide DR AMIT MOHINDROO OF GGDSD COLLEGE
SECTOR -32, CHANDIGARH and company guide KAVERI SHARMA (BRANCH
HEAD) for their inspiration, guidance and support in the completion of this project report.
I express my sincere thanks to MY MENTOR for giving me an opportunity, in the form of
Summer Internship, to have a practical learning experience at Axis Bank. It will inculcate
skill and confidence in me, for my future. Axis Bank has helped me to a great extent in
conducting this study by providing me the required data. The constant support and inputs
rendered by my guides were invaluable. I am extremely grateful to them for providing the
necessary inputs, and guidance at every stage of my project.
I also express my sincere thanks to the administration of GGDSD COLLEGE, Chandigarh
and staff of Axis Bank staff who provided adequate support and facilities to accomplish my
work and completion of project report on time.
Last but not the least; I am highly thankful to my family and friends who were always there
whenever their support was needed and also for showing faith in me.

Place: AXIS BANK LTD.

INFOSYS CAMPUS, IT PARK CHANDIGARH

3
 CONTENTS
Sr. no. Particulars Page
No.
1. Introduction 5
2. Growth of Banking Industry 6
3. Banking structure in India 7-11
 Central Bank
 Commercial Banks
 Cooperative Banks
4. Introduction to the organisation (Axis Bank) 12-21

5. Types of Accounts 22
6. Saving Account 23
7. Current account 24
8. Fixed Deposit Account 25
9. Recurring Deposit Account 26

10. NRI Account 26

11. Demat Account 27

12. Salary account 28

13. Loans 29-30

14. Types of loans 30-32

15. Internet Banking 33-35

16. ATM 36

17. Debit and Credit card 37-38

18. SWOT Analysis 39

19. Advantages and Disadvantages of the study 40

4
 20. Weekly report of Six Weeks 41-49

21. Bibliography 50

INTRODUCTION
Banking sector
A bank is a budgetary middle person and Money maker that makes Money by loaning cash
toa 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.

Banking is nearly as old as civilization. The history of banking could be said to have started
with the appearance of money. The first record of minted metal coins was in Mesopotamia in
about 2500B.C. the first European banknotes, which was handwritten appeared in1661, in
Sweden cheque and printed paper money appeared in the 1700’s and 1800’s, with many
banks created to deal with increasing trade.
The history of banking in each country runs in lines with the development of trade and
industry, and with the level of political confidence and stability. The ancient Romans
developed an advanced banking system to serve their vast trade network, which extended
throughout Europe, Asia and Africa.

5
Modern banking began in Venice. The word bank comes from the Italian word “ban co”,
meaning bench, because moneylenders worked on benches in market places. The bank of
Venice was established in 1171 to help the government raise finance for a war.
At the same time, in England merchant started to ask goldsmiths to hold gold and silver in
their safes in return for a fee.

Growth of banking industry

In the cutting-edge sense, began in the most recent many years of the eighteenth century.
among the principal banks were the Bank of Hindustan, which was set up in 1770 and sold in
1829– 32; and the General Bank of India, set up in 1786 however flopped in 1791.

The biggest bank, and the most established still in presence, is the State Bank of India
(S.B.I). It began as the Bank of Calcutta in June 1806. In 1809, it was renamed as the Bank of
Bengal. This was one of the three banks established by an administration government, the
other two were the Bank of Bombay in 1840 and the Bank of Madras in 1843. The
three banks were converged in 1921 to frame the Imperial Bank of India, which upon India's
autonomy, turned into the State Bank of India in 1955. For a long time, the
administration banks had gone about as semi national banks, as did their successors, until
the point when the Reserve Bank of India was built up in 1935, under the Reserve Bank of
India Act, 1934.In 1960, the State Banks of India was given control of eight state-related
banks under the State Bank of India (Subsidiary Banks) Act, 1959. These are presently called
its
partner banks. In 1969 the Indian government nationalized 14 noteworthy private banks, one
of the huge banks of India was Bank of India. In 1980, six more private banks were
nationalised. These nationalised banks are lion’s share of moneylenders in the Indian
economy. They rule the saving money division due to their substantial size and across the
border organizes.

6
 BANKING STRUCTURE IN INDIA
In today’s dynamic world banks are inevitable for the development of a country. Banks play a
pivotal role in enhancing each and every sector. They have helped bring a draw of
development on the world’s horizon and developing country like India is no exception.

Banks fulfills the role of a financial intermediary. This means that it acts as a vehicle for
moving finance from those who have surplus money to (however temporarily) those who
have deficit. In everyday branch terms the banks channel funds from depositors whose
accounts are in credit to borrowers who are in debit.

Without the intermediary of the banks both their depositors and their borrowers would
have to contact each other directly. This can and does happen of course. This is what has
lead to the very foundation of financial institution like banks.

Before few decades there existed some influential people who used to land money. But a
substantially high rate of interest was charged which made borrowing of money out of the
reach of the majority of the people so there arose a need for a financial intermediate.

The Bank have developed their roles to such an extent that a direct contact between the
depositors and borrowers in now known as disintermediation.

Banking industry has always revolved around the traditional function of taking deposits,
money transfer and making advances. Those three are closely related to each other, the
objective being to lend money, which is the profitable activity of the three. Taking deposits
generates funds for lending and money transfer services are necessary for the attention of
deposits. The Bank have introduced progressively more sophisticated versions of these
services and have diversified introduction in numerable areas of activity not directly relating
to this traditional trinity

7
The Indian Banking system consists of:

8
Reserve Bank of India
A national bank works as the pinnacle controlling establishment in the managing an account
and money related arrangement of the nation. It works as the controller of
credit, broker's bank and ado appreciates the restraining infrastructure of issuing money for
the benefit of the administration. A national bank is typically control and frequently
claimed, by the administration of a nation. The Reserve Bank of India (RBI) is such a bank
inside India.

Commercial Bank
It operates for profit. It accepts deposits from the public and extends loans to the
households, the firms and the government.
The essential characteristics of commercial banking are as follows:
•Acceptance of deposits from public.
•For lending or investment
•Repayable on demand or lending or investment
•Withdrawal by means of an instrument, whether a cheque or otherwise

Public Sector Banks

Public Sector Banks (PSBs) are those banks where majority of stakes fi with the
Government.
All these PSBs are listed on stock exchanges. Central Government entered banking industry
with the nationalization of Imperial Bank of India in 1955, then in 1969 14 major banks were
nationalized and in 1980 4 more bank were nationalized. To Name a few PSBs: State Bank of
India and is subsidiaries, Bank of India, Bank of Baroda, Mahila Bank, Central Bank of India,
etc. The objectives behind nationalization where:
•To break the ownership and control of banks by a few business
•To prevent the concentration of wealth and economic power,
•To mobilize savings from masses from all parts of the country,
•To cater to the needs of the priority sectors

9
Private Sector Banks
Private Sector Banks in India is made up of private and public banks. But the greater part of
stake is in the hand of private shareholders and not with the Government. Private Banks are
categorized as Old and New Private bank Old Private banks: These are those banks which
were not nationalized
during
the process in1969 and 1980 due to the smaller scale or regional reach only. Example:
thalami Bank, Federal Bank, ING Vysya Bank, Karur Vysya Bank, etc. New Private Banks:
These are the banks which came into operations afire the liberalization in1990s. Banking
Regulation were amended in 1993 so that new private banks can enter the Indian Banking
industry. Example: ICICI Bank, AXIS Bank, HDFC Bank, Yes Bank, Development Credit Bank,
Kotak Mahindra Bank, etc. But there were certain criteria for the establishment of new
private banks which are as follow: -
•Bank should have minimum net worth of Rs 200 Cr.
•Proprotors should hold an iminium of 25% of paid-up capital
•Within 3 years of the starting of the operations, the bank should offer shares to public and
their net worth rust increase to 300 Cr.

Foreign Banks
With the globalization hitting the world, the concept of banking has changed substantially.
The concept of Foreign Banks has changed the prevailing banking scenario in India. Banking
is now crore of crore customer-friendly, modern technology have been implemented like
mobile banking, mobile application of banks, etc. Example: HSBC Bank, JP Morgan Chase
Bank, Deutsche bank, Standard Charter Bank, etc.

10
 Regional Rural Banks
Regional Rural Banks (RRBs) were started in 1970 since even afire the nationalization, there
were cultural issues related to lending to the farmers. The main purpose of RRBs is to
mobilize financial resources from rural-semi-urban areas and grants loans and advances
mostly to small and marginal farmers, agricultural labours, etc. Example: Karnataka Vikas
Gardena Bank, Maharashtra Garmin Bank, etc.

Schedule Co-operative Bank

Larger visit unions are often called cooperative banks. Like credit unions, cooperative banks
are owned by their customers and follow the cooperative principle of one person, one vote.
Unlike credit unions, however, cooperative banks are often regulated under both banking and
cooperative legislation. They provide services such as savings and loans to non-rerefers as
well as to rerefers, and some participate in the wholesale market for hands, Money and even
equities

Urban Co-operative Banks

Urban Co-operative Banks are giving banking facility y to grass root persons. As Urban Co-
operative Banks are mostly working in the rural and semi-urban areas they understand the
genuine commercial needs of the local population in their area of operation Urban Co-
operative Banks help small and medium sized traders, entrepreneurs, artisans and farmers
who are deprived of banking facility as private sector and commercial banks tap only
high profile and successful entrepreneurs Example: Ahmedabad Mercantile Co-Op Bank,
Kakapo Curreri l Coop. Bank.

11
INTRODUCTION TO THE ORGANISATION

12
ABOUT

Introduction:
Axis Bank Ltd., the first
bank to begin operations as
new private banks in 1994
afire the
Government of India
allowed new private banks
to be established. Axis Bank
was jointly
promoted by the Administrator
of the specified undertaking of
the
• Unit Trust of India (UTI-1)

13
• Life Insurance Corporation
of India (LIC)
• General Insurance
Corporation Ltd.
Additionally, with associates
National Insurance Company
Ltd., The New India
Assurance
Company, The Oriental
Insurance Corporation and
United Insurance Company
Ltd.
Hub Bank is the third biggest
private part bank in India.
Pivot Bank offers the entire
range of
14
money related administrations
to client portions covering
Large and Mid-Corporates,
MSME,
Agriculture and Retail
Businesses. The Bank has a
substantial impression of 3703
branches
and 13,814 ATMs spread
over the province as on 12
Aug 2016 which is the biggest
ATM
organize in nation among
Private Sector Banks in
India. The abroad tasks of the
Bank are
15
spread over its seven
worldwide workplaces with
branches at Singapore, Hong
Kong, DIFC
(Dubai International
Financial Center), Colombo
and Shanghai and delegate
workplaces at
Dubai and Abu Dhar
With an accounting report
size of 6,91,330/ - Cr. as
on 31st March 2018, Axis
Bank has
accomplished steady
development and stable

16
resource quality with a 5-year
CAGR (2012-13
to 2017-18) of 15% in Total
Assets, 12% in Total Deposits,
17% in Total Advances.
Introduction:
Axis Bank Ltd., the first
bank to begin operations as
new private banks in 1994
afire the
Government of India
allowed new private banks
to be established. Axis Bank
was jointly

17
promoted by the Administrator
of the specified undertaking of
the
• Unit Trust of India (UTI-1)
• Life Insurance Corporation
of India (LIC)
• General Insurance
Corporation Ltd.
Additionally, with associates
National Insurance Company
Ltd., The New India
Assurance
Company, The Oriental
Insurance Corporation and
United Insurance Company
Ltd.
18
Hub Bank is the third biggest
private part bank in India.
Pivot Bank offers the entire
range of
money related administrations
to client portions covering
Large and Mid-Corporates,
MSME,
Agriculture and Retail
Businesses. The Bank has a
substantial impression of 3703
branches
and 13,814 ATMs spread
over the province as on 12
Aug 2016 which is the biggest
ATM
19
organize in nation among
Private Sector Banks in
India. The abroad tasks of the
Bank are
spread over its seven
worldwide workplaces with
branches at Singapore, Hong
Kong, DIFC
(Dubai International
Financial Center), Colombo
and Shanghai and delegate
workplaces at
Dubai and Abu Dhar
With an accounting report
size of 6,91,330/ - Cr. as

20
on 31st March 2018, Axis
Bank has
accomplished steady
development and stable
resource quality with a 5-year
CAGR (2012-13
to 2017-18) of 15% in Total
Assets, 12% in Total Deposits,
17% in Total Advances.
Introduction:
Axis Bank Ltd., the first
bank to begin operations as
new private banks in 1994
afire the

21
Government of India
allowed new private banks
to be established. Axis Bank
was jointly
promoted by the Administrator
of the specified undertaking of
the
• Unit Trust of India (UTI-1)
• Life Insurance Corporation
of India (LIC)
• General Insurance
Corporation Ltd.
Additionally, with associates
National Insurance Company
Ltd., The New India
Assurance
22
Company, The Oriental
Insurance Corporation and
United Insurance Company
Ltd.
Hub Bank is the third biggest
private part bank in India.
Pivot Bank offers the entire
range of
money related administrations
to client portions covering
Large and Mid-Corporates,
MSME,
Agriculture and Retail
Businesses. The Bank has a
substantial impression of 3703
branches
23
and 13,814 ATMs spread
over the province as on 12
Aug 2016 which is the biggest
ATM
organize in nation among
Private Sector Banks in
India. The abroad tasks of the
Bank are
spread over its seven
worldwide workplaces with
branches at Singapore, Hong
Kong, DIFC
(Dubai International
Financial Center), Colombo
and Shanghai and delegate
workplaces at
24
Dubai and Abu Dhar
With an accounting report
size of 6,91,330/ - Cr. as
on 31st March 2018, Axis
Bank has
accomplished steady
development and stable
resource quality with a 5-year
CAGR (2012-13
to 2017-18) of 15% in Total
Assets, 12% in Total Deposits,
17% in Total Advances.
Introduction:
Axis Bank Ltd., the first
bank to begin operations as
25
new private banks in 1994
afire the
Government of India
allowed new private banks
to be established. Axis Bank
was jointly
promoted by the Administrator
of the specified undertaking of
the
• Unit Trust of India (UTI-1)
• Life Insurance Corporation
of India (LIC)
• General Insurance
Corporation Ltd.
Additionally, with associates
National Insurance Company
26
Ltd., The New India
Assurance
Company, The Oriental
Insurance Corporation and
United Insurance Company
Ltd.
Hub Bank is the third biggest
private part bank in India.
Pivot Bank offers the entire
range of
money related administrations
to client portions covering
Large and Mid-Corporates,
MSME,
Agriculture and Retail
Businesses. The Bank has a
27
substantial impression of 3703
branches
and 13,814 ATMs spread
over the province as on 12
Aug 2016 which is the biggest
ATM
organize in nation among
Private Sector Banks in
India. The abroad tasks of the
Bank are
spread over its seven
worldwide workplaces with
branches at Singapore, Hong
Kong, DIFC
(Dubai International
Financial Center), Colombo
28
and Shanghai and delegate
workplaces at
Dubai and Abu Dhar
With an accounting report
size of 6,91,330/ - Cr. as
on 31st March 2018, Axis
Bank has
accomplished steady
development and stable
resource quality with a 5-year
CAGR (2012-13
to 2017-18) of 15% in Total
Assets, 12% in Total Deposits,
17% in Total Advances.
Introduction:
29
Axis Bank Ltd., the first
bank to begin operations as
new private banks in 1994
afire the
Government of India
allowed new private banks
to be established. Axis Bank
was jointly
promoted by the Administrator
of the specified undertaking of
the
• Unit Trust of India (UTI-1)
• Life Insurance Corporation
of India (LIC)
• General Insurance
Corporation Ltd.
30
Additionally, with associates
National Insurance Company
Ltd., The New India
Assurance
Company, The Oriental
Insurance Corporation and
United Insurance Company
Ltd.
Hub Bank is the third biggest
private part bank in India.
Pivot Bank offers the entire
range of
money related administrations
to client portions covering
Large and Mid-Corporates,
MSME,
31
Agriculture and Retail
Businesses. The Bank has a
substantial impression of 3703
branches
and 13,814 ATMs spread
over the province as on 12
Aug 2016 which is the biggest
ATM
organize in nation among
Private Sector Banks in
India. The abroad tasks of the
Bank are
spread over its seven
worldwide workplaces with
branches at Singapore, Hong
Kong, DIFC
32
(Dubai International
Financial Center), Colombo
and Shanghai and delegate
workplaces at
Dubai and Abu Dhar
With an accounting report
size of 6,91,330/ - Cr. as
on 31st March 2018, Axis
Bank has
accomplished steady
development and stable
resource quality with a 5-year
CAGR (2012-13
to 2017-18) of 15% in Total
Assets, 12% in Total Deposits,
17% in Total Advances.
33
Axis Bank India, the first bank to begin operations as new private banks in 1994 after the
Government of India allowed new private banks to be established. Axis Bank was
jointly promoted by the Administrator of the specified undertaking of the
• Unit Trust of India (UTI)
• Life Insurance Corporation of India (LIC)
• General Insurance Corporation Ltd.
Also with associates viz. National Insurance Company Ltd., the New India Assurance
Company, The Oriental Insurance Corporation and United Insurance Company Ltd

CORPORATE OFFICE
Bombay dyeing mills compound, Pandurang Budhkar Marg, Worli, Mumbai 400025
TEL: (022) 2425 2525

EVOLUTION
UTI was established in 1964 by an Act of Parliament; neither did the Government of India
own it nor contributes any capital. The RBI was asked to contribute one-half of its initial
capital of Rs 5 crore, and given the mandate of running the UTI in the interest of the unit-
holders. The State Bank of India and the Life Insurance Corporation contributed 15 per cent
of the capital each, and the rest was contributed by scheduled commercial banks which
were not nationalized then. This kind of structure for a unit trust is not found anywhere else
in the world. Again, unlike other unit trusts and mutual funds, the UTI was not created to
earn profits. In the course of nearly four decades of its existence, it (the UTI) has succeeded
phenomenally in achieving its objective and has the largest share anywhere in the world of
the domestic mutual fund industry." The emergence of a "foreign expert" during the setting
up of the UTI makes an interesting story. The announcement by the then Finance Minister
that the 18 Government of India was contemplating the establishment of a unit trust caught
the eye of Mr. George Woods, the then President of the World Bank. Mr. Woods took a great
deal of interest in the Indian financial system, as he was one of the principal architects of the
ICICI, in which his bank, First Boston Corporation Bank, had a sizeable shareholding. Mr.
Woods offered, through Mr. B.K. Nehru, who was India's Executive Director on the World
Bank, the

34
services of an expert. The Centre jumped at the offer, and asked the RBI to hold up the
finalization of the unit trust Proposals till the expert visited India. The only point Mr. Sullivan
made was that the provision to limit the ownership of units to individuals might result in
unnecessarily restricting the market for units. While making this point, he had in mind the
practice in the US, where small pension funds are an important class of customers for the
unit trusts. The Centre accepted the foreign expert's suggestion, and the necessary
amendments were made in the draft Bill. Thus, began corporate investment in the UTI,
which received a boost from the tax concession given by the government in the 1990-91
Budget. According to this concession, the dividends received by a company from
investments in other companies, including the UTI, were completely exempt from corporate
income tax, and provided the dividends declared by the investing company were higher than
the dividends received. The result was a phenomenal increase in corporate investment
which accounted for 57 per cent of the total capital under US-64 scheme. Because of high
liquidity the corporate sector used the UTI to park its liquid funds. This added to the
volatility of the UTI funds. The corporate lobby which perhaps subtly opposed the
establishment of the UTI in the public sector made use of it for its own benefits later. The
Government-RBI power game started with the finalization of the UTI charter itself. The RBI
draft of the UTI charter stipulated that the Chairman will be nominated by it, 19 and one
more nominee would be on the Board of Trustees. While finalizing the draft Bill, the Centre
changed this stipulation. The Chairman was to be nominated by the Government, albeit in
Consultation with RBI. Although the appointment was to be made in consultation with the
Reserve Bank, the Government could appoint a person of its choice as Chairman even if the
Bank did not approve of him. Later on in 2002 the UTI was renamed to Axis Bank.

VISION OF THE BANK

“To be the preferred financial solutions provider excelling in customer delivery through
insight, empowered employees and smart use of technology.”
The Bank works on certain values and ethics that it has to concentrate on and makes sure to
fulfill and adhere to them. Some of the core values are as under:

VALUES

35
Customer Centricity
Ownership
Teamwork
Transparency
Ethics

MISSION OF THE BANK

•Customer service and product innovation tuned to diverse needs of individual and corporate
clientele.
•Continuous technology up gradating while maintaining human values.
•Progressive globalization and achieving international standards.
•Efficiency and effectiveness built on ethical practices.
•Customer Satisfaction through providing quality service effectively and efficiently

CORPORATE PROFILE
Axis Bank is the third largest private sector bank in India. The Bank offers the entire
spectrum of financial services to customer segments covering Large and Mid-Corporates,
MSME, Agriculture and Retail Businesses.
The Bank has a large footprint of 4,903 domestic branches (including extension counters)
with 15,953 ATMs & cash recyclers spread across the country as on 31st March 2023. The
Bank has 6 Axis Virtual Centres with over 1,500 Virtual Relationship Managers as on 31st
March 2023. The Overseas operations of the Bank are spread over eight international offices
with branches in Singapore, Dubai (at DIFC), and Gift City-IBU; representative offices in
Dhaka, Dubai, Abu Dhabi, Sharjah and an overseas subsidiary in London, UK. The
international offices focus on Corporate Lending, Coverage Business, Trade Finance,
Syndication, Investment Banking, Liability Businesses, and Private Banking/Wealth
Management offerings.
Axis Bank is one of the first new generation private sector banks to have begun operations in
1994. The Bank was promoted in 1993, jointly by Specified Undertaking of Unit Trust of
India (SUUTI) (then known as Unit Trust of India), Life Insurance Corporation of India
(LIC), General Insurance Corporation of India (GIC), National Insurance Company Ltd.
(NIC), The New India Assurance Company Ltd. (NIA), The Oriental Insurance Company

36
Ltd. (OIC), and United India Insurance Company Ltd. (UIIC). The shareholding of Unit Trust
of India was subsequently transferred to SUUTI, an entity established in 2003. GIC, NIC,
NIA, OIC, UIIC have been reclassified from promoter category to public category. As on
March 31, 2023, SUUTI and LIC are the promoters of the Bank.
With a balance sheet size of Rs. 13,17,326 crores as on 31st March 2023, Axis Bank has
achieved consistent growth and with a 5-year CAGR (2017-18 to 2022-23) of 14% each in
Total Assets & Advances and 16% in Deposits.

SUBSIDIARIES
 The Bank has set up six wholly-owned subsidiaries:
 Axis Securities and Sales Ltd. (Since renamed Axis Capital Ltd.)
 Axis Private Equity Ltd.
 Axis Trustee Services Ltd.
 Axis Asset Management Company Ltd. Axis Mutual Fund Trustee Ltd.
 Axis U.K. Ltd.

PROMOTERS
UTI Bank Ltd. has been promoted by the largest and the best
Financial Institution of the country, UTI. The Bank was set up IN
1993 with a capital of Rs. 115 crores, with
 UTI contributing Rs. 100 crores,
 LIC - Rs. 7.5 crores
 GIC and its four subsidiaries contributing Rs. 1.5 crore each.
Axis Bank is today one of the most competitive and profitable banking franchise in India.
Which can be clearly seen by an analysis of its comprehensive portfolio of banking services
including Corporate Credit, Retail Banking, and Business Banking, Capital Markets, Treasury
and International Banking.

CAPITAL STRUCTURE
The Bank has authorized share capital of Rs. 500 crores
comprising 500,000,000 equity shares of Rs. 10/- each. As on
31st March, 2012 the Bank has issued, subscribed and paid-up
equity capital of Rs. 413.20 crores, constituting 413,203,952

37
shares of Rs. 10/- each. The Bank's shares are listed on the
National Stock Exchange and the Bombay Stock Exchange. The
GDRS issued by the Bank are listed on the London Stock
Exchange (LSE).

DISTRIBUTION NETWORK
The Bank has a network of 1787 domestic branches (including extension counters) and
10,363 ATMs across the country, as on 31st December 2012, the network of Axis Bank
spreads across
1,139 cities and towns, enabling the Bank to reach out to a large cross-section of customers
with an array of products and services. The Bank's overseas network consists of 4 branches in
Singapore, Hong Kong, DIFC - Dubai and Colombo and 3 Representative offices at
Shanghai, Dubai, and Abu Dhabi.

RETAIL BANKING
Axis Bank has developed a strong retail banking franchise over the years. Retail Banking is
one of the key drivers of the Bank's growth strategy and it encompasses a wide range of
products delivered to customers through multiple channels. The Bank offers a complete suite
of products across deposits, loans, investment solutions, payments and cards to help
customers
achieve their financial objectives. The Bank focuses on product differentiation as well as a
high level of customer-service to enable it to build its retail business. The Bank has continued
to develop its risk management capabilities in Retail business, both from a credit and
operations
risk standpoint. The branch channel is effectively utilised for growing the retail assets
business, with loan and card products being offered to existing clientele. The growth areas
identified by the Bank are in the areas of residential mortgages and passenger car loans. Of
the total retail loans portfolio, 88.47% is in the form of secured loans (residential mortgages
and auto loans).
 The Bank offers a wide range of payment solutions to its customers in the form of debit
cards, prepaid cards and credit cards. As on 31st March 2012, the Bank has a base of
approximately 124.99 lac debit cards, placing it among the leading players in the country.
The Bank is also a dominant player in prepaid cards. Axis Bank has over 2 lakh installed
EDC machines - a highest for any bank in India.

38
 Axis Bank Privée', an exclusive private banking service offers advisory, investment and
lending solutions to its customers across 10 cities in the country. Privée follows a client-
focused investment process and a team-based approach for managing client relationships.
The relationship management team is supported by a team of product specialists, client
servicing teams, investment consultants and research experts. The private banking
business focuses on addressing both the personal and corporate advisory needs of an
entrepreneur or business family by bringing solutions offered by various business groups
across the retail and corporate businesses within the Bank under an integrated platform.
 The Bank launched 'Axis Bank Wealth' in 2008-09 targeting customers who have a total
relationship value with the Bank of between Rs.30 lacs and Rs.200 lacs. The value
proposition aims at delivering a 'One Bank' experience to such customers and is
positioned as a complete solution involving banking, investment and asset needs.

MOBILE BANKING
Mobile banking was launched by the bank in October 2004, within the last one and a
half year; the customer base has grown to over five lacks subscribers as of April 2006. Axis
Bank Offers the Automatic Alerts service in mobile banking. A subscriber is alerted through
SMS on the activities in his account with automatic alerts for every debit in his account of
more than Rs. 5,000. Also if the customer is registered for bill payments, he receives an alert
as soon as a bill is presented by the biller for payment.
Benefits
•Safety: Be alerted on any transaction above Rs. 5,000in an individual’s account so that
action can be initiated promptly in case of any misuse of the account.
•Convenience: Know the status of the account from wherever an individualare.

39
BOARD OF DIRECTORS

40
SENIOR MANAGEMENT

41
 Awards and Recognition.

 Axis Bank wins Best Product Innovation in BFSI at the UBS Forums BFSI Tech Summit
and Awards
 Axis Bank wins Infosys Finacle Award for Platinum Level & Gold Level
 Axis Bank recognized as one of the World's Best Banks by Forbes Media
 Axis Bank wins FICO Decision Award for Cloud Deployment
 Axis Bank wins ETBFSI Best Brands Award for Best BFSI Brand
 Axis Bank wins The Asset Triple A Digital Award for Neo API Banking Suite
 Axis Bank wins the Dun & Bradstreet BFSI Award for Best BFSI Customer Experience
(Neo API Banking Suite, a Project Neo Initiative on API Developer Portal)
 Axis Bank wins the Dun & Bradstreet BFSI Award for Best BFSI MSME Support (Neo
Connect, a Project Neo Initiative for Wholesale Banking)
 Axis Bank wins Inclusive Finance India Award for Priority Sector Lending by Banks
(Private)
 Axis Bank wins Banking Innovation Award at the Qorus-Accenture (EFMA) Awards
2022
 Axis Bank (DIFC Branch) wins Le Fonti Award for Excellence of the Year in Innovation
& Banking
 Axis Bank wins ET BFSI Excellence Award for Customer Engagement Initiative of the
Year (Neo Connect)

42
  Platinum Level (1. Corporate to Bank (C2B) digitalization of trade products through
Swift India Channel and Innovative Product offering – Finacle LMS 2. AI
implementation for banking AML compliance unit)
 Gold Level (Merchant cash advance and Neo API banking suite – API developer Portal
for Corporates)

TYPES OF ACCOUNTS
There are different types of bank accounts that can be opened by one or more individuals in
any of the public or private banks in India. The provision of bank accounts is one of the
major aspects of the banking industry. Types of Bank Accounts is one of the most important
topics of financial and general banking awareness syllabus for most of the competitive
exams. In this article, we shall find out more about the different types of bank accounts that
exist in almost all kinds of banks in the country.
 A bank is responsible to maintain a financial account for a customer. This is called a
bank account.
 A bank account represents the funds entrusted to a bank or financial institution by a
customer and the customers can withdraw money from it as per their requirements.
 The financial transactions that occur on a bank account within a given period of time
are reported to the customer on a bank statement.
 The balance of the accounts is the financial position of the customer with the
institution at any given point of time.

43
Savings Account
A Savings Account is a place to park or save your access funds and earn interest on it. You
also get a wide range of services like debit cards, internet banking, online bill payments etc.,
with the account. There is no specific upper limit on the amount you can save. However,
there the permissible transactions depend on the type of bank account you open. For instance,
minimum balance requirements for regular Savings Accounts are significantly low compared
to Privileged Savings Accounts. Banks offer several types of Savings Accounts like Joint
Savings Accounts, Family Savings Accounts, Senior Citizens Savings Account, Kids Savings
Account etc.

DOCUMENTS REQUIRED TO OPEN ACCOUNT

PAN Card
Adress Proof
For address proof following documents can be provided :-
 Passport

44
  Aadhar Card
 Driving license
 Voter Card

INTEREST RATES
Upto 50 lakh rupees – 3%
50 lakh to 800 cr. - 3.5%

WAYS TO OPEN SAVING ACCOUNT

Online – In online mode account is opened through online link in which video KYC of
customer is done.
Offline – In offline mode account is opened in offline manner where account opening form is
filled and biometric of customer is taken. In this case Aadhar card is mandatory.

Current Account
Current accounts are used, mainly by business owners or corporations. Banks do not pay any
interest on these accounts. There is no limit on the maximum amount of money you can
hold in this account. Accountholders also enjoy a higher number of daily transactions. A
prominent feature of the current account is the Overdraft Facility. This feature enables
account holders to get access to a credit facility, even when your account balances are low.
You can use the sums borrowed through the overdraft facility to fund your business needs.

INTEREST RATES
No interest is provided on current account.

CURRENT ACCOUNT CAN BE OPENED/USED BY:

45
INDIVIDUALS: Like saving account individuals can open a current account also by following
the same process.
BUSINESS FIRMS: Firms include proprietorship firms, partnership firms and private limited
companies.

DOCUMENTS REQUIRED TO OPEN CURRENT ACCOUNT

For opening a current account Entity proof of the firm is required.
Businesses can use following documents as entity proof of the firm’s existence:
 GST Certificate
 Form B issued by Labour department
 Certificate of registration
 Drug licence (in case of pharmaceutical companies)

Other documents required

1. Proprietorship firm: proprietor’s PAN card and Address proof
2. Partnership firm: PAN card and address proof of all partners
Partnership Deed
3. Private Limited Firms: COI- Certificate of Incorporation
MOA- Memorandum of Association
AOA- Article of Association

Fixed Deposit Account

A Fixed Deposit Account is a type of investment on which you can earn a fixed or steady
interest rate and guaranteed returns on the amount invested. The only trade off is that you
have to fix or block the deposit amount is until maturity. If needed, you can withdraw your
FD before term by paying a premature withdrawal penalty. Fixed Deposits usually offer
higher interest rates than a Savings Account and are considered safe investments for risk-
averse investors.

46
TIME PERIOD

Minimum time period of FD is 25 days.

Maximum time period is 10 years.

INTEREST RATES

Interest rates on fixed deposit vary on the basis of time period for which the amount is
invested. In axis bank currently the maximum rate of interest on FD is 7.10% on 13 months.
The interest can be obtained monthly, quarterly or yearly.

Recurring Deposit Account

A recurring deposit (RD) gives you the flexibility to invest every month rather than investing
a lump sum amount. Banks offer tenures usually from 6 months to 10 years. Unlike FD,
where the interest gets credited every quarter or upon maturity, the interest is strictly paid
upon maturity in an RD. You can set up standing instructions for your bank to debit the
monthly RD amount. You must also maintain sufficient balances in your account so that the
bank can debit the sums on your chosen date.

Features of Recurring Deposit Account

 It is the regular deposit factor and the interest aspect that the account provides
flexibility and ease of investment to the account holders.
 The RD account can be opened by any individual or an institution either jointly or
separately
 Regular monthly instalments to be added can range from as low as INR 50 to any
amount from one bank to another
 The account can be opened ranging from 6 to 120 months.
 Its rate of interest varies from bank to bank
 The Recurring Deposit Account provides the nomination facility as well

47
  Account holders are issued passbooks to know their account summary on a regular
basis
 The bank can deduct a sum of the amount as a penalty if premature withdrawal of the
amount is made.

NRI Account
Non-Resident Indians living abroad can open NRI accounts in India. This type of bank
account is further divided into three types – NRE, NRO and FCNR account.

 Non-residential Ordinary Rupee (NRO) Account is for NRIs who have income sources
in India while they are based abroad. They can also deposit their foreign earnings in
the NRO account.
 Non-residential External Rupee (NRE) Account is another place for NRIs to deposit
their foreign earnings. Sums deposited are converted to INR instantly. NRIs may
repatriate all the money deposited in this account into their bank accounts abroad.
 Foreign Currency Non-Resident Account or FCNR accounts are maintained in foreign
currency denominations. This is a Fixed Deposit Account that offers a fixed interest
rate upon maturity. Accounts holders can avail of loans in India against their FCNR
deposits.

DEMAT Account
The DEMAT Account constitutes the shares and securities held in electronic form. The
DEMAT account stands for Dematerialization Account. Such accounts are maintained by two
depository institutions, the National Securities Depository Limited and the Central
Depository Services Limited.

Features of DEMAT Account

 Such accounts help easy trade of share and securities
 They facilitate conducting stress-free transaction of share

48
  Opening of the DEMAT Account requires the KYC procedure
 The transaction cost is reduced
 Traders can work from any location
 The transfer of securities can be done with less paperwork

Salary Account
A salary account is a type of savings account opened by your employers in which you receive
your monthly salary. Salary accounts come with zero minimum balance and certain features
and benefits like free ATM withdrawals. The best benefit of a salary account is that you are
guaranteed a timely and seamless salary payment and a smooth transaction facility. So, you
can easily use your salary for your daily expenses when you get your salary deposited in this
account.
Linked with your PAN card, a salary account can be turned into a savings account once they
stop receiving salary in it for a specified period.

Benefits of Salary Account

 Zero Balance: The limit of the minimum balance requirement is set to zero.
The employees are not forced to fulfill a specific limit. Even if the salary
account exhausts or reaches below the limit, the employees don’t have to pay
the penalty or extra money to maintain the account.
 Accessibility To Loans: If your employer has a tie-up with the bank, you can
get easier access to loans at reduced rates of interest. The professionals are
offered competitive interest rates and faster documentation loans. The bank
gives the account holders car loans, home loans or personal loans, or any other
service they want.
 Debit Card Facilities: The salary account holders receive free debit card
facilities. Individuals can use the card for online and offline ATM
Withdrawals. The bank also gives special offers on debit card purchases from
time to time.

49
  Personalized Cheque Book: Account holders receive a chequebook after
opening a salary account with a recognized bank. The personalized
chequebook facility helps you make easy and fast payments.
 Online Fund Transfers: The salary account makes the sending and receiving
of funds a cakewalk for its members. It supports online and phone banking
facilities. The account holders can make payments, receive funds or shop their
favourite deals without compromising the good things in life.

ELIGIBILITY
The person who is opening salary account on his/her name must be employed with a
company that has an account relationship with the bank.

50
LOANS
A loan is a sum of money that one or more individuals or companies borrow from banks or
other financial institutions so as to financially manage planned or unplanned events. In
doing so, the borrower incurs a debt, which he has to pay back with interest and within a
given period of time.

The recipient and the lender must agree on the terms of the loan before any money
changes hands. In some cases, the lender requires the borrower to offer an asset up for
collateral, which will be outlined in the loan document. A common loan for American
households is a mortgage, which is taken for the purchase of a property.

Loans can be given to individuals, corporations, and governments. The main idea behind
taking out one is to get funds to grow one’s overall money supply. The interest and fees
serve as sources of revenue for the lender.

Eligibility for Loan

The eligibility criteria to get a loan varies based on the type of loan you are looking for.
Generally speaking, you may consider the following simple criteria to check your eligibility.
 A decent credit score
 Constant income flow
 Age between 23 years and 60 years at the time of entry
 A few assets such as FDs, investments, immovable property, etc.
 A good relationship with your bank
 A timely debt repayment history

Documents Required
Salaried Applicants
 Application form with photograph
 Identity and address proof

51
 Last 6 months’ bank account statement
 Latest Salary Slip
 Form 16

Self-Employed Applicants
 Application form with photograph
 Identity and address proof
 Last 6 months’ bank account statement
 Proof of business
 Business profile
 Income Tax returns (self and business) for the last three years
 Profit/loss statements and balance sheets of the last three years

TYPES OF LOANS
Education Loan
Education loans are financing instruments that aid the borrower pursue education. The
course can either be an undergraduate degree, a postgraduate degree, or any other
diploma/certification course from a reputed institution/university. You must have the
admission pass provided by the institution to get the financing. The financing is available
both for domestic and international courses.
Any student with Indian nationality can apply for education loan to study in India or abroad.

The eligibility criteria are as follows:

 The applicant and co-applicant should be over 18 years of age and citizen of India.
 The student needs to have secured at least 50% marks during HSC and graduation.
 The student needs to have obtained admission to career-oriented courses viz. Medicine,
Engineering, Management, etc., either at the graduate or post-graduate level.

52
 Secured admission in India or abroad from a recognised college/education institution
through entrance test/ merit-based selection process post completion of HSC (10+2), is a
must.
 The co-applicant, i.e., parent(s) or guardian, need to have a regular source of income.

Amount of Loan
Minimum amount: Rs. 50,000
Maximum amount: 95% of total fee to study in India
85% of total fee to study in abroad

Personal Loan
Whenever there is a liquidity issue, you can go for a personal loan. The purpose of taking a
personal loan can be anything from repaying an old debt, going on vacation, funding for the
downpayment of a house/car, and medical emergency to purchasing big-ticket furniture or
gadgets. Personal loans are offered based on the applicant’s past relationship with the
lender and credit score.
Personal Loan Details
Max Loan Amount Rs. 40 Lakhs
Max Loan Tenure Up to 60 months
Interest Rate Starting from 10.49% p.a.
Processing Fees Up to 2% of loan amount + GST
Documents Required No Documents for Pre-approved Personal Loan
For Non Pre-approved Last 3 Months Bank Statements, 2 Latest Salary Slip and KYC

Vehicle Loan
Vehicle loans finance the purchase of two-wheeler and four-wheeler vehicles. Further, the
four-wheeled vehicle can be a new one or a used one. Based on the on-road price of the
vehicle, the loan amount will be determined by the lender. You may have to get ready with
a downpayment to get the vehicle as the loan rarely provides 100% financing. The vehicle
will be owned by the lender until full repayment is made.

53
Home Loan
Home loans are dedicated to receiving funds in order to purchase a house/flat, construct a
house, renovate/repair an existing house, or purchase a plot for the construction of a
house/flats. In this case, the property will be held by the lender and the ownership will be
transferred to the rightful owner upon completion of repayments.

Axis Bank Home Loan offers home loans starting at Rs. 3,00,000. The Axis Bank Home Loan
comes with a host of benefits such as smaller EMIs where you can space out your payment
over a longer tenure, attractive interest rates, an easy application process, doorstep service,
etc. Find out more about the Axis Bank Home Loan below:

Home Loan Details

Loan Amount Up to Rs 5 crore
Loan Tenure Up to 30 years
Floating Interest Rate 8.75% - 9.15%
Fixed Interest Rate 14%
Processing Fee Up to 1% of the loan amount +GST (minimum Rs 10,000)

54
 INTERNET BANKING
Online banking, also known as internet banking, virtual banking, web banking or home
banking, is a system that enables customers of a bank or other financial institution to conduct
a range of financial transactions through the financial institution's website or mobile app.
Since the early 2000s this has become the most common way that customers access their
bank accounts.

The online banking system will typically connect to or be part of the core banking system
operated by a bank to provide customers access to banking services in addition to or in place
of historic branch banking. Online banking significantly reduces the banks' operating cost by
reducing reliance on a branch network and offers convenience to some customers by
lessening the need to visit a branch bank as well as being able to perform banking
transactions even when branches are closed.

Internet banking provides personal and corporate banking services offering features such as
making electronic payments, viewing account balances, obtaining statements, checking recent
transactions and transferring money between accounts.

To access a bank and online banking facility, a customer with internet access will need to
register with the bank for the service, and set up a password and other credentials for
customer verification. The customer visits the financial institution's secure website, and
enters the online banking facility using the customer number and credentials previously set
up.

Each financial institution can determine the types of financial transactions which a customer
may transact through online banking, but usually includes obtaining account balances, a list
of recent transactions, electronic bill payments, financing loans and funds transfers between a
customer's or another's accounts. Most banks set limits on the amounts that may be
transacted, and other restrictions. Most banks also enable customers to download copies of
bank statements, which can be printed at the customer's premises (some banks charge a fee
for mailing hard copies of bank statements). Some banks also enable customers to download
transactions directly into the customer's accounting software. The facility may also enable the

55
customer to order a cheque book, statements, report loss of credit cards, stop payment on a
cheque, advise change of address and other routine actions.

Some financial institutions offer special internet banking services, for example, Personal
financial management support, such as importing data into personal accounting software.
Some online banking platforms support account aggregation to allow the customers to
monitor all of their accounts in one place whether they are with their main bank or with
other institutions.

Criticism and problems

 The increase in online banking with a concomitant closure of local bank branch offices
or reduced retail opening hours discriminates against people who cannot use online
banking, for physical or mental limitations like age, or illness.
 Online banking requires access to broadband services. However not everyone has equal
access to the internet, which has been called the digital divide. In March 2022, the U.S.
Federal Communications Commission formed a task force to prevent
digital discrimination.

INTERNET BANKING IN AXIS BANK

Axis Bank ensures hassle free internet banking registrations in just a few easy steps. Online
banking is secure with the added two-step authentication system of Netsecure. Follow the
below steps for Internet banking registration and start banking online.

Step 1: Go to the Axis Bank login page on its official website. Click on ‘Login’ and then on
‘First Time User Register’ option. You will be directed to the registration page.

Step 2: Enter either your customer ID or registered mobile number. The customer ID is
mentioned in the welcome letter and also printed on your cheque book. You can also obtain
your Customer ID by sending an SMS CUSTID to 56161600.

56
Step 3: If you have a savings or current account with Axis Bank, you will next be displayed
one or more out of the following options: Debit Card, OTP, Email link and KYC. Choose one
of the options and fill up the details to set your password and to complete your registration.

Step 4: You can now login using one of the following options:
Customer ID/login ID & Password
Debit card number, ATM PIN, OTP
Customer ID & MPIN
Registered mobile number, MPIN & OTP
For the first option in above step, you can login using an alphanumeric Login ID instead of
the customer ID. You can create this Login ID only once by logging in to Internet Banking,
going to My Profile, and clicking on “Personalise your Login ID”

Step 5: When you login to Internet Banking for the first time after registration, you will have
to set three security questions and their answers.

These are the steps that are needed to be followed to avail internet bank services in axis bank
which allow the customers to perform banking operations on their mobile phones in an easy
and convenient manner.

57
ATM
An automated teller machine (ATM) is an electronic telecommunications device that enables
customers of financial institutions to perform financial transactions, such as cash
withdrawals, deposits, funds transfers, balance inquiries or account information inquiries, at
any time and without the need for direct interaction with bank staff.

ATMs were originally developed as cash dispensers, and have evolved to provide many other
bank-related functions:
 Paying routine bills, fees, and taxes (utilities, phone bills, social security, legal fees,
income taxes, etc.)
 Printing or ordering bank statements
 Updating passbooks
 Cash advances
 Cheque Processing Module
 Paying (in full or partially) the credit balance on a card linked to a specific current
account.
 Transferring money between linked accounts (such as transferring between accounts)
 Deposit currency recognition, acceptance, and recycling.

Using an ATM, customers can access their bank deposit or credit accounts in order to make a
variety of financial transactions, most notably cash withdrawals and balance checking, as
well as transferring credit to and from mobile phones. ATMs can also be used to withdraw
cash in a foreign country. 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 the financial
institution's exchange rate. Customers are typically identified by inserting a plastic ATM card
(or some other acceptable payment card) into the ATM, with authentication being 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.

58
DEBIT CARD
A debit card is a payment card that deducts money directly from your checking account. Also
called “check cards” or "bank cards," debit cards can be used to buy goods or services or to
get cash from an ATM. Debit cards can help you reduce the need to carry cash, although
using these cards can sometimes entail fees.

Features
 Debit cards are payment cards that reduce the need to carry cash or physical checks to
make purchases.
 You can use debit cards at ATMs to withdraw cash.
 Debit card purchases may require a personal identification number (PIN), but some
purchases can be made without one.
 You may be charged an ATM transaction fee if you use your debit card to withdraw cash
from an ATM that's not affiliated with your bank.
 Some debit cards offer rewards, similar to credit card rewards, such as 1%
back on purchases.

CREDIT CARD
A credit card is a thin rectangular piece of plastic or metal issued by a bank or financial
services company that allows cardholders to borrow funds with which to pay for goods and
services with merchants that accept cards for payment. Credit cards impose the condition that
cardholders pay back the borrowed money, plus any applicable interest, as well as any
additional agreed-upon charges, either in full by the billing date or over time.

Features
 Credit cards are plastic or metal cards used to pay for items or services using credit.
 Credit cards charge interest on the money spent.
 Credit cards may be issued by stores, banks, or other financial institutions and often offer
perks like cash back, discounts, or reward miles.
 Secured credit cards and debit cards offer options for those with little or bad credit.

59
The credit card issuer issues a credit card to a customer at the time or after an account has
been approved by the credit provider, which need not be the same entity as the card issuer.
The cardholders can then use it to make purchases at merchants accepting that card. When a
purchase is made, the cardholder agrees to pay the card issuer. The cardholder indicates
consent to pay by signing a receipt with a record of the card details and indicating the amount
to be paid or by entering a personal identification number (PIN). Also, many merchants now
accept verbal authorizations via telephone and electronic authorization using the Internet,
known as a card not present transaction (CNP).

Similarities Between Credit and Debit Cards

 Both provide the facility to use money through cards when there is no cash in hand.
 Credit and debit cards bear the logo of the card company such as Visa, MasterCard,
American Express (Amex), and we can use both to purchase goods and services.

Difference Between Credit and Debit Cards

 Definition: A credit card is a facility given by the bank that enables the customer to
spend money on that credit card account at any time with the contract of paying that
money back later. A debit card, on the other hand, is the electronic card of a
customer’s personal account that gives the ability to make card payments or withdraw
cash from an ATM. This is the main difference between credit and debit cards.
 Amount: The amount in a credit card is fixed as per arranged by the credit card
facility of the bank while the amount in a debit card varies according to the amount in
your personal account.
 Money Withdrawal: Withdrawal is also a major difference between credit and debit
cards. Only card payments can be made using a credit card whereas you can do both
card payments as well as money withdrawals from a debit card.
 Password: There is no password required to use a credit card, but a password is
required to use a debit card, i,e. when withdrawing cash from a cash machine.
 Balance: The balance or the money to be paid back to the bank in a credit card is sent
as a monthly statement to you. However, you have to update your personal account to
check the amount of money of money have spent. This is another difference between
credit and debit card

60
SWOT ANALYSIS
Strength
 Axis bank has been given the rating as one of best three positions as far as speediest
development in private division bank.
 The bank has its presence in 1139 cities and towns.
 The banks financial positions grow at a rate of 20% every year which is a major positive
sign for any bank.

Weakness
 Lesser no. of branches compared to its competitors.
 Image of the bank still under the shadow of the UTI debacle.
 In Rural areas there are no branches.
 Axis bank has minimal market share due to high competition in the banking sector.

Opportunity
 Expansion in rural areas.
 Going to foreign markets and exploring the new economies.
 UPI payments and mobile wallets can be promoted.

Threats
 New banking licenses issued by the Reserve Bank of India
 Foreign banks
 Competitors

61
 ADVANTAGES OF THE STUDY
There are many advantages of doing an internship or a study on a particular subject or
topic, some of the main advantages of my internship at Axis bank are listed below:
 Learning about various products and services of the bank.

 Getting knowledge about day-to-day workings of the bank.

 Learn to deal with customers.

 Real time work experience.

 Learning of new skills.

 Get to know more about banking as career.

 This internship helps in developing professional connections.

 Helpful in building self-confidence.

LIMITATIONS OF THE STYDY

With the lot of advantages there are few disadvantages of this internship according to

my experience of 6 weeks of internship, all those disadvantages are listed below:

 The first disadvantage for me is the lack of time available for the internship, I have only

six weeks, which is not a sufficient time for deep knowledge of a subject or banking

sector.

 Another disadvantage of doing an internship in a bank is that an intern can only work

manually paper work, bank do not provide access of their system to the intern, as it is

concerned with the hard earned money of general public, this results in half knowledge.

62
WEEKLY REPORT
I completed my summer training from Axis Bank ltd. Infosys Campus IT Park Chandigarh
branch. It is located inside the Infosys campus Chandigarh. The main purpose of opening the
branch inside Infosys campus is to provide better services to more than 4000 employees of
Infosys and more than 1000 employees of other vendors working in the campus. The branch
is also open to give services to the customers who are not employed in the campus.

The employees of Infosys and other venders working in the campus have their
Salary accounts, saving accounts and their family member’s accounts in the branch. Branch
also have ATM facility for the customers. It is a small branch but the employees are fully
dedicated towards their duty of providing services to the customers. They are always open to
help the customers and to solve their queries.

Branch also provides loan facilities to its customers. Customers are offered to
avail personal loan on the basis of their salaries if they have salaries account with the bank
without any collateral security. Customers can also avail home loan, car loan, education loan
etc. from the branch.

WEEK 1
Calling customers
 For personal loan – Personal loan is offered by the bank to the customers on the
basis of their salaries if they have salary account with the bank without any collateral
security.

Bank provides me a list of 20-30 customers daily with the amount of personal loan
offered to them I had to call all the customers greet them, ash if they have any query
related to banking or their account which is with the branch. Then tell them about
the personal loan offer and the amount offered to them and the interest rate to be
charged on the loan.

63
 Interest is charged on the basis of amount of personal loan:
For less than 10 lakhs - 11.5% to 15%
For more than 10 lakhs – 10.5% to 11%

After calling the customer I have to write remarks on the list as per the response of the
customer weather they are interested in the offer or not. Then the bank staff will call the
customers who are interested for follow up.

 For home loan – Same as personal loan bank also offers home loans the customers.
In home loan I have to call those customers who are already availing or had availed
home loan but from any other bank. Firstly greet the customer, ask if they have any
query related to banking or their account which is with the bank.

Then I have to ask the customer that from which bank he/she is taking home loan
services, at which interest rate and how much time is left for the loan period. After
that tell the customer the interest rate of Axis Bank and ask them if they are
interested in taking home loan or transferring the loan from other bank to Axis Bank
After call I have to give remarks about the response of customer.

 For Debit card pick up – Sometimes the Debit cards of customers are delivered to the
branch. So in such case bank will inform the customer about the same.

In case of debit card I have to call the customer and inform that their debit card is
delivered to the branch and they can pick it up from the branch if possible and if not
the bank will deliver it to the address of the customer as per the need of the
customer.

After the call my duty is to write the remark on the envelope of the debit card with
date.

 I learned a lot through my experience of calling the customers. It teaches me

how to deal with the customers in the real world.

 This is also very beneficial for improving my communication skills.

 It is also very helpful to make a connect with the customer by calling them
personally to ask their queries.

64
  This will be helpful for the bank to retain their customer as the customer will
feel that the bank is giving him the required attention.

 There is no need to visit the branch for the customer for solving their
problems and for getting answers to their queries.

WEEK 2
Voucher Checking
Everyday various debit and credit transections take place in every bank, for every transection
a voucher is filled, stamped and signed.

During the summer training I learned about voucher checking. I have to place all the
vouchers of the day together check weather they are properly stamped or not and the date
of the stamp must be correct I have to ensure that also.

The next step is to count number of debit and credit vouchers in the day.

The information on the vouchers is also matched with the daily transection report. Name
account number, amount of debit/credit is mentioned on the transection report all of this is
also matched with the details on the voucher.

After checking all the vouchers of the day the transection report is attached to the and it is
stamped and signed by the BRO.

Learning about Types of Accounts

There are different types of accounts in every bank as explained above in the report. All the
accounts have their own importance and features.

During my internship period I have learned about Saving Account, Current Account, Salary
Account, FD Account, RD Account, NRI Account and Demat Account and also assisted band
staff in opening Saving and Salary accounts online.

I learned about the process of account opening through both offline form and online link i.e.
video KYC, the documents required for opening an account, eligibility of a customer to open
an account and minimum balance that a customer must maintain in the account.

65
WEEK 3
Filling of Forms
Account Closure Form: In axis bank service is top most priority. But if due to some reason
the customer wants to close the bank account it can be done by just filling an account closure
form.

I have learned to fill the account closure form for closing the account. The account closure
form only needs some details of the customer like name, account no. of the account which is
to be closed, reason for closure, mobile number, signature of customer and the mode by
which the customer wants to receive the proceeds or balance in the account that is to be
closed.

The proceeds can be credited to the customer’s another axis bank account if available or can
be paid to the customer through a DD.

After that the form is signed by the operations head and branch head of the branch and send
for the further proceedings.

Account Opening Form: Most of the accounts are opened through online mode now a days.
But if there is any issue in opening account through online mode or it is not convenient for
the customer to open online account then account is opened through offline mode by filling
the account opening form.

I have learned to fill the account opening form. This form needs few details of the customer
to be filled like, Full name, Mobile number, address, type of account (saving or current) to be
opened, email id, mother name, father name, signature of customer and nominee details
like name, relation with account holder etc. Initial amount to be deposited in the account
must be mentioned.

66
Some documents are also needed with the account opening from to open the account like,
PAN, address proof and photograph. In case of account opening through filling a form
Aadhar card is mandatory to provide.

Biometric of customer is also taken through biometric machine available in the bank. Then
the biometric is matched with the biometric available at UIDAI which are taken when our
aadhar card is generated that is why aadhar card is mandatory.

Deposit Slip: Deposit slip is filled by the customer when they want to deposit cash in their
account.

It is just a simple short slip which need only few details like account number in which the
cash is to be deposited, amount of cash which is to be deposited, and how much notes of a
particular denomination is to be deposited.

E.g.- a customer wants to deposit 10,000 which includes 10 notes of 500, 20 notes of 200
and 10 notes of 100. So, he has to mention this on the slip.

Form for exchanging 2000-rupee denomination: For exchange of 2000 rupee noter a
different form is filled. I helped few customers in filling the form. There are only a few details
that are needed to be filled in the form like, name of the customer, mobile no, aadhar card
no., number of notes to be exchanged, amount etc. A photocopy of aadhar card is also
attached with the form.

67
WEEK 4
Filing of Documents
Filing of documents in a proper manner is very important task as it prevents from any future
inconvenience.
In banks there are different types of files and registers for different documents that must be
maintained for smooth and convenient functioning.
Some of important files and registers are listed below:

 Inward clearing file

 DD issue register
 Checklist of Branch Head and Operation Head
 FD and RD file
 Remittance outward forms file
 Account opening forms file
 STR 8

Any related document to any of the file is placed in it accordingly.

Online Account Opening

In forth week I have also learned about online account opening. In this process of account
opening there is no need to fill any type of form. Now a days most of the accounts are
opened through this process.

Process of online account opening

In this process account is opened through a link, the customer will provide PAN and address
proof, then details of customer is filled through the online form. After that the customer will
get a video call for video KYC from back end. Then customer will make online payment for
the initial funding for the account and the account number is generated within few minutes.

Benefits of online account opening

 Easy process
 Less time consuming
 Convenient to customer

68
WEEK 5
Remittance Outward form

Foreign outward remittance is the process of sending money from India to another country.
There are a number of reasons why people need to send money abroad. It can be for
business purposes, education, medical treatment, emigration, and more.

RBI Guidelines for Outward Remittance from India

The RBI has strict guidelines in place for outward remittance, designed to ensure that the
process is safe and secure. The RBI guidelines for outward remittance stipulate that

- Individuals can only send up to USD 2,50,000 per year abroad.

- Businesses can send up to USD 5,00,000 per year.

- Outward remittances can only be made in freely convertible currencies (typically of nations
that are politically and economically stable, such as Great Britain Pound, US Dollar, Japanese
Yen, Euro, etc).

- The recipient of the outward remittance must be declared to the authorised financial
institution at the time of making the transaction.

- The required documents include:

 Permanent Account Number (PAN) card copy

 Form A2
 Proof of adequate funds
 Original fee slip/receipt/bill where necessary, etc.

During the internship period I also learn how to fill the remittance outward or telegraphic
transfer form, which is filled on A2 form. As mentioned above there are some documents
which are required to be attached with the A2 form. Details from the documents are needed
to be filled in the A2 form, which includes:

 Name of PAN card holder, PAN card number, (the PAN is of the person who is sending the
money to foreign country)
 Customer id and account number of the sender

69
 Name of the passport holder and passport number of the traveller.
 Amount of money to be sent in both Indian rupee and foreign currency.
 Currency Rate at which the amount is transferred.
 Payment details i.e. name, address, account no., of the foreign bank, transit no. etc.

After filling the form completely, it is signed and stamped by the branch head or operations
head.

WEEK 6
Learning about Types of loans
There are different types of loans provided by every bank as explained above in the report.
All them have their own importance and features.

In last week of the internship, I learned about loans. As mentioned above in the report I get
to know about the loan facility provided by bank to the customers. I get to know about the
types of loan, interest charged on each type and eligibility of availing the loan services.

70
 ADDITIONAL LEARNINGS DURING THE
INTERNSHIP PERIOD

Valuation of Multilated or Torn Notes

 Value of Torn notes (whose half part is missing) are measured on the basis of scale.
 If both the pieces of note are available its value is full.
 If note is in 3 parts its value is zero.
 Burnt note's value is measured on a different scale (their value is very less).

Customer Dealing: During my internship person I have also learned hoe to deal with the
customers and how to handle their queries.

Minor workings of the bank

 All the important notices must be on every notice board of the bank.
 Proper documentation must be there, no unwanted document should be there in any
file or on any desk.
 Entry of cash opening and cash closure is done both on register (manually) and
through online mode.
 No cash transaction is made after cash closure.
 All the important information and daily targets are discussed in the morning meeting.

71
BIBLIOGRAPHY
www.axisbank.com
textbook.com
www.dbs.com
sudoku.com
www.ixambee.com
scribd.com
https://jupiter.money/blog/salary-account-meaning-benefit-features/
https://jupiter.money/international-money-transfer/outward-remittance/
https://www.investopedia.com/terms/c/creditcard.asp
https://www.investopedia.com/terms/d/debitcard.asp

72