A

SUMMER INTERNSHIP PROJECT

On
CUSTOMER SATISFACTION TOWARDS PRODUCT AND SERVICE OF HDFC BANK

By
NEHA SUKHDEV (92201423170)

Guided By
Dr. GURVISHAL SINHA

A Thesis Submitted to
Marwadi University in Partial Fulfillment of the Requirements for the MBA in the Faculty of
Business Management

JULY, 2023

MARWADI UNIVERSITY
Rajkot-Morbi Road, At & Po. Gauridad,
Rajkot-360003, Gujarat, India
 STUDENT DECLARATION

I. NEHA SUKHDEV…., (92201423170) hereby, declare that the Summer Internship Project
Work entitled “…Customer Satisfaction Towards Product And Service of HDFC Bank….”,
submitted in partial fulfillment of the requirements for the award of the degree of Master of
Business Administration (MBA) of Marwadi University, Rajkot, India is my ideas in my
own words and where others' ideas or words have been included, I have adequately cited and
referenced the sources. I also declare that I have adhered to all principles of academic honesty
and integrity and have not misrepresented fabricated or falsified any idea/data/fact/source in
my submission.

This authentic work has been carried out by me under the supervision of Dr./Prof.
GURVISHAL SINHA also declares that the content of this project report does not form a
basis for the award of any previous degree to anyone else. I understand that any violation of
the above will be cause for disciplinary action by the university and can also evoke penal
action from the sources which have thus not been properly cited or from whom proper
permission has not been taken when needed.

Date:

Place: Rajkot
Signature of the Student
NEHA SUKHDEV
92201423170

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 UNIVERSITY CERTIFICATE

This is to certify that the Summer Internship Project work embodied in this dissertation titled
“Customer Satisfaction Towards Product and Service Of HDFC Bank” was carried out by
NEHA SUKHDEV at HDFC Bank for partial fulfillment of MBA in Faculty of Business
Management to be awarded by Marwadi University. This research/project work has been
carried out under my guidance and supervision and it is up to my satisfaction.

Date:
Place:

Signature & Signature & Signature &

Name of Guide Name of Head of Dept. Name of Principal/Dean

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 COMPANY CERTIFICATE

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 Preface

As a Part of my MBA and also to gain practical knowledge in the field of Management, I
have completed the internship program.
Being aware of the present market is essential for understanding the current market
situation, and this study project has given the chance to do so. Our chance to experience
the actual world came through this research endeavor. Through this study, we were able
to use our theoretical understanding to address real-world issues. We were able to further
our understanding by learning about customer satisfaction data for HDFC Bank's goods
and services thanks to this report. We appreciate Marwadi University's assistance in
providing us with actual market and product knowledge. Even so, we did our best to
ensure that the report was error-free. In addition to this project report, my summer
internship program focused heavily on comprehending and conducting adequate research
on the organization.

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 ACKNOWLEDGEMENT

I would want to use this opportunity to extend my sincere appreciation, thanks, and regards to
everyone who has contributed in some way to the successful completion of this project.

I would like to express my gratitude to Mr. DIPESH KATARMAL (Branch Manager, Morbi),
who gave me the opportunity to complete training at HDFC BANK.

Additionally, I want to thank the HDFC Bank staff for their great assistance and motivational
leadership.

I want to express my gratitude to all the university faculty members and friends who have
supported me in completing this project successfully.

Last but not least, I want to express my gratitude to my parents for giving me the time,
encouragement, and inspiration I needed to write my report.

Date: -

Place: -Morbi

Signature: -

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 ABSTRACT SUMMARY

An organizational study conducted by HDFC Bank is included in the report. Each of HDFC Bank's services and
products has a thorough description. The financial services and products offered by HDFC Bank are the focus of
the report. The research provides an overview of the banking industry, corporate profile, and customer
knowledge of various HDFC Bank products and services. Overall, working with HDFC Bank is a wonderful
choice. Every new hire receives thorough instruction on HDFC Bank products. Through information, market
research serves as a link between the public, customers, and consumers and the market. Information is used to
define and categorize marketing possibilities and issues, assess market behavior, track marketing performance,
and enhance comprehending the marketing process as a whole. The goal of the survey is to learn how satisfied,
knowledgeable, and interested clients are with HDFC bank products.

Research objectives are: -

 opinions of the bank's clients regarding the various services it offers.

 To gauge the public's level of knowledge about the bank's banking services
 To measure the overall degree of client satisfaction with the bank's services and
goods

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 TABLE OF CONTENTS

SR PARTICULARS Page No.

NO.
1 PART A
1.1 GENERAL INFORMATION 9

 BACKGROUND OF THE 10-20

INDUSTRY/SECTOR
Growth and Evolution of the Industry
Key Indicators and Future Trends of the Industry
a. World Market
Analytical Data (Facts & Figures)
b. Country Market
Analytical Data (Facts & Figures)
c. State Market
Analytical Data (Facts & Figures)
 COMPETITOR ANALYSIS 20-23
a) PORTER’S FIVE FORCE MODEL
b) PESTEL ANALYSIS (Tabular form)

2  PART –B 24
PROBLEM IDENTIFICATION 25-34
 Introduction of the study
 Rational of the study
 Research problem
 Identification of Research Gap
 Literature review
 Research Objective
RESEARCH METHODOLOGY 34-36
 Population
 Sample
 Sampling method
 Data Collection Methods
 Data Collection Instruments
 Data Analysis Methods

3 PART C 37

 DATA ANALYSIS & INTERPRETATION

Data analysis & interpretation (Tables & charts) 38-47

4 Result &Findings 48
5 Conclusion 48
6 Suggestions 48
7 Limitations of the study 49
8 Contribution of the study 49-51
9 Bibliography & References 52
10 Annexures 53-57

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 PART A
GENERAL INFORMATION

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 BACKGROUND OF THE INDUSTRY

A bank is a kind of financial institution that offers credit and takes deposits from the general
population. Commercial banking and central banking are the two primary subtypes of
banking in the contemporary industrial world.

The commercial activity of receiving, securing, and then lending out other people's money for
a profit is referred to as banking.

A banker is a person, group, or business that deals with the receipt and deposit of money.

Conclusion of the bank:

Accept public money deposits.

It pays interest on money deposited with it.

Make an investment or a loan.

When asked, return the money.

THE HISTORY OF THE WORD BANK

Banking activities were restarted after Italy's economy and creative life had recovered.

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 HISTORY OF BANKING

Nearly as old as civilization itself is banking. The creation of money is the beginning of
banking history. Around 2500 B.C., the first metal coins were produced in Mesopotamia. In
Sweden in 1661, the first handwritten banknotes from Europe were produced. Cheques and
printed paper money first appeared in the 1700s and 1800s, and numerous banks were
founded to deal with the growth in trade.

The history of banking in each nation is correlated with the growth of trade, industry, and
political confidence and stability. The ancient Romans created a sophisticated banking system
to support their extensive commerce network that spanned Europe, Asia, and Africa.

Modern banking originated in Venice. The word bank is composed of Italian words.

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M a r w a d i u n i v e r s i t y, R a j ko t P a g e 12 | 68
 INTRODUCTION TO HDFC BANK

The Housing Development Finance Corporation Limited (HDFC) was one of the first
organizations to be given 'in principle' clearance to create a bank in the private sector as part
of the Reserve Bank of India's (RBI) liberalization of the Indian Banking Industry in 1994.
With its registered office in Mumbai, India, the bank was established in August 1994 under
the name "HDFC Bank Limited." The HDFC Bank started operating as a Scheduled
Commercial Bank in January 1995. The best housing finance company in India is HDFC,
which has a strong reputation in both domestic and foreign markets. The Corporation has
maintained steady and healthy development in its operations since its founding in 1977 to
keep its position as the market leader in the mortgage industry. Its HDFC Bank launched its
operations in 1995 with the simple ambition of being a "World Class Indian Bank." We Came
to-the conclusion that concentrating only on superior product quality and customer service
was the only way to get there. We are happy to say that we are close to accomplishing that
target as of right now.

An Indian bank called HDFC Bank Limited (the Bank) provides numerous banking and
financial services, such as commercial banking and treasury operations. With a total of
177000 employees, the bank has 7860 branches and 20352 automated teller machines
(ATMs).

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 HISTORY OF HDFC BANK

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In 1995, HDFC Bank launched its operations with the simple ambition of being a "World
Class Indian Bank." We came to-the conclusion that concentrating only on superior product
quality and customer service was the only way to get there. We are happy to say that we are
close to accomplishing that target as of right now.

An Indian bank called HDFC Bank Limited (the Bank) provides numerous banking and
financial services, such as commercial banking and treasury operations. With a total of
177000 employees, the bank has 7860 branches and 20352 automated teller machines
(ATMs).

The best housing finance company in India is HDFC, which has a strong reputation in both
domestic and foreign markets. The Corporation has maintained steady and healthy
development in its operations since its founding in 1977 to keep its position as the market
leader in the mortgage industry. Over a million residential units are included in its impressive
loan portfolio.

In addition to having a sizable corporate clientele for its housing-related credit facilities,
HDFC has extensive expertise in retail mortgage loans to various market groups. In order to
promote a bank in the Indian market, HDFC was in a strong position thanks to its experience
in the financial sector, solid reputation in the marketplace, substantial shareholder base, and
distinctive customer franchise. In a significant deal for the Indian banking sector, Times Bank
was bought.

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MISSION

 Excellent Indian Bank

 Compared to international standards.
 To establish solid customer franchises across multiple businesses.
 Products, technology, service levels, risk management, and best practices for audit
and compliance

VISION STATEMENT OF HDFC BANK

The highest ethical standards, professional honesty, and regulatory compliance are all
priorities for HDFC Bank. Four key values serve as the cornerstones of HDFC Bank's
business philosophy:

1. Operational excellence.

2. Customer Service.

3. Product dominance.

4. Individuals.

In order to provide its target market consumers with a one-stop shop for all of their needs, the
HDFC Bank aims to offer a broad range of financial products and banking services. The
programs for HDFC Bank Plus and investment advisory services were developed with the
interests of consumers in mind who are searching for particular financial solutions, details,
and guidance on numerous investment possibilities.

BUSINESS STRATEGIES

1. Increasing market share in India's growing banking sector

2. Providing excellent customer service
3. Maintaining current high asset quality standards through disciplined credit risk
management
4. Create innovative products and services that appeal to specific customers while
addressing inefficiencies in the Indian financial sector.

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GROWTH & EVOLUTION OF THE INDUSTRY

The development of the Indian banking sector can be divided into four major phases:

Phase I: Prior to Nationalization (1955).

Nationalization and Consolidation Era, Phase II (1955–1990)

Phase III (1990–2004): Partial Liberalization and the Implementation of Financial and
Banking Sector Reforms in India

Phase IV: Extended Period of Liberalization (since 2004)

More than a century before independence, in the year 1770, in the then-capital of India,
Calcutta, the Bank of Hindustan—first India's bank—was established2.

There are many different ways that the Indian banking sector is now organized.

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 KEY INDICATORS AND FUTURE TRENDS IN THE BANKING INDUSTRY

 Digitization of banking services and solutions for tech-savvy clientele

 With the addition of features like UPI (Unified Payments Interface), mobile
banking has improved.
 Blockchain technology should be used for transactions that need to be secure
and transparent.
 Robots with artificial intelligence are used for customer care and fraud
detection.
 Innovative financial products and services are being offered by a growing
number of fintech businesses.
 Banks with no physical branches and only online operations.
 The efficiency of cloud banking is increased while operating costs are
decreased.
 Examples of cutting-edge banking strategies that improve financial inclusion
include payments and small finance banks.

WORLD MARKET, FACTS & FIGURES • In 2021, the value of the global commercial
banking sector will be $2.48 trillion.

 The market for internet banking is anticipated to reach $31.81 billion in value by
2027.
 By market capitalization, J.P. Morgan Chase is the biggest bank in the world.
 Roughly 40% of ATM customers frequent the devices 8–10 times every month.
 The market for ATMs is anticipated to grow to $30.50 billion by 2027.
 In 2019, banks all over the world made the largest investments in enhancing their
digital banking services.
 The market for mobile banking is anticipated to reach $1.82 billion in value by 2026.

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COUNTRY MARKET, FACTS & FIGURES

 M&A activity with an emphasis on India will hit a record high of US$ 171 billion in
2022.
 According to a Refinitiv analysis, domestic M&A activity hit a record high in 2022,
reaching US$ 119.2 billion, up 156.3 percent from 2021. Mergers and acquisitions in
2022 involved organizations like HDFC Bank, HDFC, Ambuja Cements, ACC,
Adani Group Biocon, Mindtree, L&T Infotech, AM/NS, and Essar Ports.
 In June 2022, 45.60 crore bank accounts had been opened as part of the government's
largest financial inclusion initiative, the Pradhan Mantri Jan Dhan Yojana (PMJDY),
and 1.68 trillion rupees (US$ 21.56 billion) had been deposited into Jan Dhan bank
accounts.
 In April 2022, HDFC Bank, the biggest private bank in India, announced a
transformational merger with HDFC Limited.
 It was declared by the Reserve Bank of India (RBI) that its.

STATE MARKET, FACTS & FIGURES

 As part of the State Budget for 2022–2023:

 The Swarnim Jayanti Mukhymantri Shehari Vikas Yojana has given urban
development authority Rs. 3,822 crores (US$ 479.38 million).
 The Mid-Day Meal Scheme received Rs. 733 crores (US$ 91.94 million), while the
Samagra Shiksha Abhiyan earned Rs. 1,079 crores (US$ 135.33 million).
 Rs. 404 crores (US$ 50.67 million) has been allotted for the National Health Mission.
 Rs. 1,100 crores (US$ 137.99 million) has been allotted for Mukhya Mantri Gram
Sadak Yojana.
 The amount allotted for urban development is Rs. 9,702 crores ($1,216.73 million).
 Rs. 9,002 crores (US$ 1,126.38 million) has been allotted for agriculture and related
activities

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 1. PORTER’S FIVE FORCE MODEL

Competitive Rivalry in the Market

The banking industry is the most significant segment of the finance industry and is crucial to
the development of the Indian economy, hence there is intense competition in this sector. It
not only reached the well-known big cities but also the outlying areas of the nation, which is
crucial for development. This change has resulted in a large number of banks and financial
institutions entering the market to offer banking services to customers, which has led to
severe competition among big businesses. With net revenues of around a trillion Indian
Rupees, HDFC Bank is the largest private sector bank in India, according to Statista (2020).
The institution's primary rival is The ICICI Bank.

Threat of Substitutes
Since financial institutions have been around since the beginning, it is unlikely that they will
be replaced because of how their structure and design have changed over time. No other
resource can take the place of the finance sector as a necessity for businesses in the present
era. As a kind of alternative solution finance, digital transformation of services and products
has altered the fundamental nature of financial dealing and engagement among clients and the
industry. Businesses and financial institutions have both shown flexibility in their approach to
serving clients by offering a range of useful products (Pratihari and Uzma, 2018). However, it
is doubtful that banking and financial services will soon be replaced. As a result, the threat of
alternatives has grown inside the sector.

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The Threat of New Entrants
In the banking sector, the threat of new competitors is minimal. It's challenging for new
institutions to get off the ground because the sector depends on other people's payments and
financial records. Given the nature of the industry, people are more willing to invest their
money in prominent, well-known, sizable organizations that they see as reliable. To create
commodities and meet industrial demand, streamlined banking system operations require
significant investment, in addition to other difficulties like creating communication networks,
getting over political obstacles, and coping with laws and regulations (Hoffman et al., 2015).
As a result, the banking sector faces little competition from new competitors.
Bargaining Power of Buyers
The banking industry is regarded to have significant buyer bargaining power. The consumer's
power in the banking sector has considerably expanded thanks to technology. Consumers
may now compare the prices of holding various accounts and the services made by other
banks considerably more effectively and at a lesser cost due to the nature of conducting
business. Customers that make deposits anticipate getting the best services available.
Customers may change banks because there are so many available if they are attracted to a
new set of services or a lower price. Ngo and Pavelkova (2017). The banking sector may
experience greater consumer purchasing power as a result of this process.

Because suppliers' influence is mostly reliant on demand, their bargaining power is viewed as
moderate to high in the financial sector. However, they play a significant role in maintaining
suppliers' conditions fair due to the industry's continued growth and rising customer demand.
Customers' deposits, mortgages, loans, securities, and lending from other financial
institutions satisfy the banks' needs, enabling them to offer the services required by the
market while upholding reasonable expectations for investments and withdrawals, allowing
suppliers to participate (Xu, Zhao, and Wang, 2017). In this situation, supplier bargaining
strength can be characterized as moderate.

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 2. PESTEL ANALYSIS

Political factors

Government policies have a significant impact on banking practices. If the government

modifies the terms of agricultural loans only for their own benefit, favoring farmers and
winning their support, it may have an adverse effect on bank business, and HDFC Bank may
therefore experience a loss. Likewise, if they pass new lending or labor legislation, it can
have an effect on HDFC's operations. Banks and HDFC are currently suffering losses as a
result of demonetization. According to DNA (2017), HDFC had their lowest quarterly profit
rise in history.

Economic Factors

Because the government creates economic policies that might affect HDFC Bank's operations
and business, political and economic factors are intimately interwoven. For instance,
adjustments to monetary or fiscal policy may have a favorable or negative effect on HDFC.
Similar to this, banks will gain as well if India's growth rate picks up as people's incomes rise
because their revenues would increase.

Socio-cultural Factors

Even in the most remote areas of India, HDFC Bank has locations. However, there are a
number of variables that affect HDFCS revenues in diverse countries, including education
level, support for such firms, and perceptions of people from varied backgrounds. For
instance, if residents of a rural Indian region refuse to utilize or trust banks with their money,
HDFC will conduct less business there than it would in a major city where banking is widely
used. Therefore, the way of life and viewpoints of individuals in diverse places can influence
whether HDFC Bank's revenue increases or decreases.

Technological Factors

Technology is everything in banks, and HDFC works to make its clients' lives easier by
implementing the newest technological developments. People now live in a cashless society
that is convenient and secure thanks to credit and debit cards. HDFC is attracting more clients
by utilizing technology in all of its services, including online banking, ATMs, bank transfers,
and SMS banking, which is resulting in rising earnings and the gradual expansion of their
enterprise.

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Environmental Factors

By integrating technology into its mobile and online banking, HDFC is consuming less paper.
This clarifies how they are using technology to benefit the environment. The entire banking
process can now be completed online, saving clients' time and the environment. With the help
of these services, HDFC Bank has developed a solid reputation among those who are more
conscious of and accountable for our planet's declining conditions.

Legal Factors

The banking sector is required to abide by strict laws and rules, which HDFC Bank has done
since it was founded in India. The continuation and expansion of the business depend on
adherence to these regulations and legal obligations. Additionally, it shields them from further
legal action. HDFC will likely continue to expand at its current rate if it continues in this
direction.

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 PART B
PROBLEM IDENTIFICATION
&
RESEARCH METHODOLOGY

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 INTRODUCTION OF THE STUDY
Customer satisfaction is a gauge of a customer's level of satisfaction with a service or good
they received from a business. Expectations of the customer as well as experience quality and
kind have a role in determining customer satisfaction. A customer is someone who interacts
with an agency on both sides and is affected by it. An agency is necessary and relied upon by
customers for one or more of their goods or services. Customers of personal services may
also be referred to as consumers, service users, or customers. Both people and groups can be
clients. When planning and valuing service delivery, businesses that are driven to give their
clients outstanding service ask customer feedback. An organization that values its customers
pays heed to expectations.

Customer satisfaction is a
measure of a customer's
satisfaction (how pleased the
customer is)
with a service or product
received from an agency.
Satisfaction does not only
depend on the
quality and type of customer
experience, but also on the
customer’s expectations.

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A customer is defined as
someone who has a mutual
relationship with an agency
and is affected by
an agency. Customers require
and depend on one or more of
their products or services from
an
agency
Consumers, service users, or
customers are usually referred
to as personal services
customers.
Clients can be groups or
individuals. Organizations

M a r w a d i u n i v e r s i t y, R a j ko t P a g e 26 | 68
that are motivated to provide
excellent
service to their customers
gather feedback from
consumers as they plan and
value service
delivery. A customer-centric
organization listens to the
expectations of its customers
when
designing ads. It also
appreciates customer feedback
and focuses on providing
customer service
and measuring performance

M a r w a d i u n i v e r s i t y, R a j ko t P a g e 27 | 68
Customer satisfaction is a
measure of a customer's
satisfaction (how pleased the
customer is)
with a service or product
received from an agency.
Satisfaction does not only
depend on the
quality and type of customer
experience but also on the
customer's expectations.
A customer is defined as
someone who has a mutual
relationship with an agency
and is affected by

M a r w a d i u n i v e r s i t y, R a j ko t P a g e 28 | 68
an agency. Customers require
and depend on one or more of
their products or services from
an
agency
Consumers, service users, or
customers are usually referred
to as personal services
customers.
Clients can be groups or
individuals. Organizations
that are motivated to provide
excellent
service to their customers
gather feedback from

M a r w a d i u n i v e r s i t y, R a j ko t P a g e 29 | 68
consumers as they plan and
value service
delivery. A customer-centric
organization listens to the
expectations of its customers
when
designing ads. It also
appreciates customer feedback
and focuses on providing
customer service
and measuring performance
Customer satisfaction is a
measure of a customer's
satisfaction (how pleased the
customer is)

M a r w a d i u n i v e r s i t y, R a j ko t P a g e 30 | 68
with a service or product
received from an agency.
Satisfaction does not only
depend on the
quality and type of customer
experience, but also on the
customer’s expectations.
A customer is defined as
someone who has a mutual
relationship with an agency
and is affected by
an agency. Customers require
and depend on one or more of
their products or services from
an
agency
M a r w a d i u n i v e r s i t y, R a j ko t P a g e 31 | 68
Consumers, service users, or
customers are usually referred
to as personal services
customers.
Clients can be groups or
individuals. Organizations
that are motivated to provide
excellent
service to their customers
gather feedback from
consumers as they plan and
value service
delivery. A customer-centric
organization listens to the
expectations of its customers
when
M a r w a d i u n i v e r s i t y, R a j ko t P a g e 32 | 68
designing ads. It also
appreciates customer feedback
and focuses on providing
customer service
and measuring performance
Customer satisfaction is a
measure of a customer's
satisfaction (how pleased the
customer is)
with a service or product
received from an agency.
Satisfaction does not only
depend on the
quality and type of customer
experience but also on the
customer's expectations.
M a r w a d i u n i v e r s i t y, R a j ko t P a g e 33 | 68
A customer is defined as
someone who has a mutual
relationship with an agency
and is affected by
an agency. Customers require
and depend on one or more of
their products or services from
an
agency
Consumers, service users, or
customers are usually referred
to as personal services
customers.
Clients can be groups or
individuals. Organizations

M a r w a d i u n i v e r s i t y, R a j ko t P a g e 34 | 68
that are motivated to provide
excellent
service to their customers
gather feedback from
consumers as they plan and
value service
delivery. A customer-centric
organization listens to the
expectations of its customers
when
designing ads. It also
appreciates customer feedback
and focuses on providing
customer service
and measuring performance
RATIONAL OF THE STUDY
 In recent years, the Indian banking sector has expanded rapidly, giving rise to a wide
range of goods and services. The research's conclusions are as follows:
 (Customer satisfaction level.

M a r w a d i u n i v e r s i t y, R a j ko t P a g e 35 | 68
  (The challenges faced by customers.
 (Client perceptions of the bank.
 (The items and services that the consumer prefers from the bank's selection.
RESEARCH PROBLEMS

Currently, the banking sector's top concern is customer happiness. Finding out what the
customer wants and needs is quite challenging. Serving the customer gets challenging as a
result. Additionally, it is quite challenging for marketers to draw in new clients and keep hold
of existing ones. Gaining a sizable market share depends on attracting and keeping clients.

NEED OF THE STUDY

 To discover more about client happiness.

 (To find out how customers feel about HDFC Bank. to look into how satisfied
customers are with the services and goods they receive.
 (To look into the problems that clients are having.
 (To enhance customer service.)

Ways to find out customer satisfaction

A customer satisfaction survey, also known as a questionnaire, is frequently carried out by a

business after a consumer has made a purchase or gotten a service from it. There are five
various circumstances that can be used to gauge consumer pleasure, and each one has a
distinct function. So, it's important to ask the appropriate question.

Examples of customer satisfaction surveys include the ones below: -

1) NPS Survey Template

By asking a single question, a Net Promoter Score survey can be used to gauge client
happiness or loyalty. For example, how satisfied are you with the product offered by our
business?

On a scale from 0 to 10, clients can rate themselves.

Customer contentment, loyalty, and general attitude are measured using NPS rather than
comments on a specific product or experience. Due to its widespread use across numerous
industries, NPS is an effective tool for evaluating customer loyalty and satisfaction against
rivals.

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NPS questionnaires are provided to customers by text message or email. It might also show
up on the website as a pop-up or chat box for online businesses. A customer feedback
software example that provides businesses with NPS insights and collects NPS

Customers are considered detractors if their response falls between 0 and 6.

An illustration of customer feedback software that offers organizations NPS analytics and
gathers NPS

If a customer's response is between 0 and 6, they are viewed as a detractor.

The company is more likely to lose these clients and these people are more likely to hinder
the company's progress through unfavorable word of mouth.

If a customer's response is between 7 and 8, they are deemed passive. Although they are
happy with the company's services and goods, they are not die-hard customers. Passive
clients can be made into die-hard supporters or they can switch to a rival.

If a customer answers between 9 and 10, they are considered a promoter.

Through recommendations and referrals, these clients will help the company grow.

The NPS score has a possible range of -100 to 100. An NPS score of 50 or more is regarded
as good, and one of 70 or higher as world-class. The Net Promoter Score (NPS) is a great tool
for recognizing and rewarding devoted consumers as well as for identifying disgruntled
customers and addressing their concerns in a small firm.

2) Customer Satisfaction Survey (CSAT)

CSAT, or customer satisfaction survey, is used to gauge consumer happiness with a product
or service as opposed to NPS, which gauges customer loyalty. Will you, for instance, suggest
our product to coworkers, acquaintances, or other family members? A scale from 1 to 5 will
be used to rate the response. The total number of respondents multiplied by the proportion of
satisfied customers yields the CSAT score, which is then multiplied by 100. CSAT surveys
are used to evaluate the effectiveness of particular goods and services as well as to address
specific customer service concerns.

3) Post-Purchase Survey

A post-purchase survey is delivered to customers who have just purchased goods or services
from the business. This survey will assist in getting client feedback on their particular

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transaction experience. These surveys are utilized for business improvement because they aid
in pinpointing certain areas of the firm that want improvement. Post-purchase surveys can be
used to ascertain whether they need to enhance their customer service or product quality if
the NPS score is poor. Open-ended questions that rate the customer's experience on a scale of
"Strongly agree" to "Strongly disagree" or "Poor to Excellent" are the norm in post-purchase
surveys.

4) Product or Service Development

Concept testing is another name for surveys used to develop products or services. This survey
is issued to customers when a business introduces a new product to gauge interest and
ascertain the likelihood that current customers will buy the product. Once the company has
input from the survey, it can make improvements to its products before releasing them.

The business must offer a sample of the product being tested for this survey, either in person
or online, along with the cost. Sending these surveys to the firm's most devoted and lucrative
clients will yield better responses.

5) Usability Survey

Additionally, called experience surveys, these are. The organization employs internet
businesses to gather client feedback on their website in an effort to enhance the customer
experience. These surveys with questions will appear when a consumer or shopper visits the
business' website. Multiple choice, open-ended, or even live messaging questions that give
the customer the information they need are all possibilities. These polls contribute to
improving website navigation, simplifying material, and improving the consumer experience.

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LITERATURE REVIEW & RESEARCH GAP

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 RESEARCH OBJECTIVE

 To ascertain which characteristics most significantly impact clients' decision to use a

particular bank.
 (In order to contrast the many goods and services the bank provides.)
 (To ascertain the preferences of the customers among the various goods and services
offered.)
 (To gauge how satisfied customers are with the bank.)
 (To find out which banking industry customers prefer.)

RESEARCH METHODOLOGY

The investigation is carried out logically and methodically. Scientific methods, precise
procedures, consumer data gathering, and data analysis employing logical and scientific
instruments are used to explain the general questions. It takes appropriate information to
conduct this research. As a result, data was acquired online from relevant websites and from
customers.

RESEARCH DESIGN

The research methodology employed is descriptive. The study was conducted using the next
research methodology:

Theoretical/detailed study was finished in the first step.

The second step of customer satisfaction was attained by HDFC Bank.

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Sample Design

Before gathering data from the population, a particular, firm plan must be developed. The
study should select a particular sample. Non-probability sampling and probability sampling
are the two types of sampling. In this investigation, non-probability sampling is the only
method employed.

Sampling

Preventing money laundering and fraud AI can help banks adhere to Anti-Money Laundering
(AML) requirements by recognizing questionable transactions and activity.

- Reporting Requirements Automation of the process of creating and submitting regulatory

reports to authorities can benefit from AI.

DATA COLLECTION METHOD

 Primary Data
The study uses both internal and external data sources. Researchers acquired the basic
ingredients. All internal data are collected from company records and documents; all
external data are collected.
There are two categories of data gathering techniques:

A questionnaire is used to collect data in this case.

 Secondary Data

It is based on information found in common books, internal sources, newspapers, and

magazines, as well as information found on the company website, extra profiles, and yearly
reports from both internal and external sources.

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 DATA COLLECTION INSTRUMENT

Hypotheses Testing through SPSS.

HYPOTHESES

Interpretation:

The dependent variable and the two independent variables had a strong correlation. since the
significance level is less than 0.05 and the correlation ranges from -1 to 1.

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 PART C

DATA ANALYSIS AND INTERPRETATION

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 DATA ANALYSIS AND INTERPRETATION

AGE GROUP AND DISTRIBUTION OF MALE-FEMALE CUSTOMER DEALING

WITH HDFC BANK

AGE GROUP-WISE

AGE NO. OF PERSONS

LESS THAN 25 12
25-35 20
35-45 18
45-55 6
ABOVE 55 4

GENDER

GENDER NO. OF PERSONS PERCENTAGE OF

GENDER DIVISION
MALE 38 63.33%
FEMALE 22 36.66%

DATA ANALYSIS FOR OCCUPATION OF THE CUSTOMER IN THE HDFC BANK

OCCUPATION NO. OF PERSONS

SERVICE 12
BUSINESS 30
PROFESSIONAL 9
STUDENT 6
OTHERS 3

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 DISTRIBUTION OF INCOME OF CUSTOMERS OF HDFC BANK
INCOME NO. OF PERSONS
0 TO 50000 1
50000 – 150000 3
150000-250000 7
250000-350000 12
350000-450000 17
450000-550000 12
550000 and above 8

NO. OF PERSONS

0-50000 50K-150K 150K-250K 250K-350K

350K-450K 450K-550K 550K AND ABOVE

1. FOR HOW LONG ARE YOU PART OF HDFC BANK?

RESPONSE NO OF RESPONDENTS % OF RESPONDENTS

LESS THAN 6 MONTHS 5 8.3%

LESS THAN 1 YEAR 12 20%
LESS THAN 2 YEARS 24 40%
MORE THAN 2 YEARS 19 31.66%
TOTAL 60 100%

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 GRAPH

NO. OF RESPONDENTS

8%
LESS THAN 6 MONTHS
32% LESS THAN 1 YEAR
20%
LESS THAN 2 YEARS
MORE THAN 2 YEARS

40%

INTERPRETATION

According to the graph, the bulk of respondents, or 40%, joined HDFC Bank less than two
years ago, while 32% of the clients had been doing so for two years or more. 20% of the
consumers have been with HDFC Bank for less than a year, while 8% have been with the
company for just six months.

2. WHAT ARE THE REASONS THAT ATTRACT YOU TO BE A CUSTOMER OF

HDFC BANK?

RESPONSE NO. OF RESPONDENT

PRODUCT 20

SERVICE 11

IMAGE OF BANK 8

ALL OF THE ABOVE 21

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 NO. OF RESPONDENTS

ALL OF THE ABOVE PRODUCT

35% 33%

IMAGE OF THE BANK SERVICE

13% 18%

INTERPRETATION

It is obvious from the aforementioned graph that 34% of consumers are drawn to the bank's
products, and 18% are drawn to its services. The other clients are drawn to HDFC Bank by its
reputation and overall offerings.

3. DO YOU KNOW ABOUT THESE PRODUCTS OF HDFC BANK?

PRODUCTS NO. OF RESPONDENTS
SAVINGS A/C 60
FIXED DEPOSITS 38
CURRENT A/C 35
DEMAT A/C 20
CREDIT CARD 60
MUTUAL FUND 29
LOAN 48
INSURANCE 56

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 NO OF RESPONDENTS
NO OF RESPONDENTS
60

60

56
48
38

35

29
20
S S S
G FD A
/C
A
/C D D A
N CE
IN R N N
T
AT CA LO A
V N FU R
SA RE EM IT L A
R D ED
A SU
C
U R TU IN
C U
M

INTERPRETATION

It is evident from the graph above that while the majority of customers are unaware of
savings accounts, 93.33% are. 80% of individuals are familiar with loan services, 58% are
familiar with current accounts, and 63% are familiar with fixed deposits. Few of them are
familiar with mutual funds. Only 33.33% of people are aware of demat accounts.

4. DO YOU KNOW ABOUT THE EXTRA SERVICES BEING PROVIDED BY THE

BANK?

RESPONSE NO. OF RESPONDENTS

YES 26

NO 15

SOME OF THEM 19

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 NO. OF RESPONDENTS

32%

43%

25%

YES NO SOME OF THEM

INTERPRETATION

It is evident from the above graph that 43% of customers are aware of other services offered
by the bank, 32% are aware of some more services, and 25% are unaware of any additional
services offered by the bank.

5. WHICH OF THE FOLLOWING EXTRA SERVICES OF THE BANK WOULD

YOU LIKE TO GO IN FOR?

EXTRA SERVICES NO OF RESPONDENTS

PHONE BANKING 58

ATM 59

NET BANKING 49

BILL PAYMENT 29

MOBILE BANKING 41

NONE OF THESE 0

ALL OF THE ABOVE 35

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 NO OF RESPONDENTS
NO OF RESPONDENTS
70

60

50

40

30

20

10

0
P HONE ATM NET BILL MOBIL E NONE OF AL L OF TH E
BANK ING BANK ING P AYMENT BANK ING TH ESE ABOVE

INTERPRETATION

It is evident from the aforementioned graph that practically all customers desire ATM
services. 96% and 81.6% of people want phone banking and online banking services,
respectively. While 58.3% of customers want to take advantage of every benefit offered to
them. 68 percent of people wish to use mobile banking services. Customers desire to use bill
payment services in 48% of cases. No consumer had the opportunity to use none of the
aforementioned services, hence this indicates a success for the bank.

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6. WHAT IS THE MAIN REASON THAT YOU TYPICALLY VISIT THE BANK
BRANCH?

RESPONSE NO OF RESPONDENTS

TO MAKE A DEPOSIT 60

TO GET ADVICE FOR 25

INVESTMENT OPTION
TO INQUIRE ABOUT THE 15
BALANCE
TO WITHDRAW CASH 35

OTHER REASONS 20

NO OF RESPONDENTS
NO OF RESPONDENTS
60

35
25

20
15

TO MAK E A TO G ET AD VI C E TO I NQUI R E TO W I TH D R AW OTH ER REASONS

D EP OSI T FOR I NVESTMENT ABOUT BAL ANC E C ASH
OP TI ON

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INTERPRETATION

It is evident from the graph above that 100% of the consumers come to make deposits. While
58% of clients go to banks to withdraw money 25% of clients visit banks to check their
balance, and 33% of customers visit banks for tasks like investing guidance.

7. HOW WILL YOU RATE HDFC BANK IN MAINTAINING GOOD CUSTOMER RELATIONSHIP?

RESPONSE NO. OF RESPONDENTS

GOOD 47

AVERAGE 9

BAD 4

NO. OF RESPONDENTS
7%

15%

78%
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GOOD AVERAGE BAD

INTERPRETATION

As can be seen from the aforementioned graph, 78% of consumers thought HDFC Bank did a
good job of sustaining client ties. 15% of customers gave it an average rating for upholding
positive customer relations. While 7% of them gave it a poor rating.

8. IF YOU ARE PROVIDED WITH BETTER SERVICES OF OTHER BANK,

WOULD YOU LIKE TO MOVE TO OTHER BANK?

RESPONSE NO OF RESPONDENTS

YES 32

NO 28

NO OF RESPONDENTS

47%
53%

YES NO

INTERPRETATION

It is evident from the graph above that 53% of customers would switch banks if better service
was offered. While 47% of customers say they won't switch banks even if better services are
offered.

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FINDINGS

 (The vast majority of clients are happy with HDFC Bank's services and choose to
work with them.) (The vast majority of clients are aware of the services offered by
HDFC bank.) (The majority of customers believe the banking services at HDFC
Bank to be satisfactory. The majority of consumers are eager to share HDFC Bank
with their friends (respondents report having problems with time and facilities, while
a minority have some problems with personnel behavior) Bill payment, ATMs, and
mobile banking are the least favored extra services, whereas net banking is the most
preferred. (The majority of clients are pleased with how staff members treat them
(Principal factor).

CONCLUSION

Finally, I want to emphasize how rapidly the Indian banking industry is growing. The
distribution network of HDFC Bank in India consists of 7860 branches, 20352 ATMs, and
177000 staff. Even if the majority of clients favor HDFC Bank, the bank should concentrate
on the few remaining unhappy customers. Although bank services are known to customers,
the bank should seek to increase awareness of its offerings.

(The bank should put more effort into fostering positive relationships with customers (The
bank should improve their service based on customer feedback (The bank should make its
procedures less time-consuming (The bank should try to inform customers about all of their
additional services.

SUGGESTION

 I would suggest that the bank refrain from diversifying its product and service
offerings to the extent where it loses focus on customer satisfaction.
 To ensure that consumers complete tasks and receive their loans, banks should
develop clear, concise policies.
 Banks should make it easier to view loan fees and interest payments in relation to the
many conditions that must be taken into an account when applying for a loan.

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LIMITATIONS OF THE STUDY

This project will undoubtedly have some problems; while every attempt has been taken to
minimize inaccuracies, some will inevitably persist owing to the restrictions of the study.

The following are: (Small sample size) (The responses may not be completely honest. Some
respondents might not want to give accurate answers.

CONTRIBUTION OF THE STUDY

Artificial intelligence is being used in the banking industry, including by HDFC Bank, to
enhance decision-making, streamline operations, lower costs, and improve customer
experience. Here are some crucial applications of AI in a bank like HDFC:

1. Customer Service and Support

-Bots and virtual assistants Use chatbots that are powered by artificial intelligence to respond
to consumer questions, offer account information, complete transactions, and provide tailored
recommendations.

-Individual Assistants Integrate voice-activated AI assistants so that consumers may

communicate with the bank in everyday language.

- Specialized Services By using artificial intelligence (AI) to evaluate consumer data and
behavior, the bank will be able to offer services and product recommendations that are
specifically tailored to each customer.

2. Fraud Detection and Prevention

-Finding abnormalities Real-time transaction monitoring by artificial intelligence can spot

suspicious patterns and alert users to potentially fraudulent activity.

- Behavior Biometrics Analyze user behavior and biometric data with artificial intelligence to
confirm identification and find unwanted access.

- Predictive Analytics

-AI systems forecast and stop fraudulent activity based on prior data and patterns.

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3. Risk Assessment and Credit Scoring

-Credit Scoring Models Create AI-powered credit scoring models that evaluate a customer's
creditworthiness using a wider range of data sources and characteristics.

- Risk Assessment By examining monetary trends, market information, and consumer

behavior, AI can foresee future hazards and market swings.

4. Automated Customer Onboarding

-Credit scoring models Create AI-powered credit scoring models that evaluate a customer's
creditworthiness using a wider range of data sources and characteristics.

-Risk Assessment By examining monetary trends, market information, and consumer

behavior, AI can foresee future hazards and market swings.

5. Data Analytics and Insights

-Analysis of enormous Amounts of Data Process and analyze enormous amounts of data
using artificial intelligence to glean insightful information that can be utilized to guide
business plans.

-AI can help with decision-making by forecasting consumer behavior, market trends, and
financial performance.

6. Process Automation

-Robotic process automation (RPA) By automating repetitive and normal processes like data
entry and reconciliation, RPA can be utilized to increase operational efficiency.

- Document Processing AI can automatically extract and classify data from documents like
bills, statements, and contracts.

7. Investment and Wealth Management

-Investment portfolios can be optimized using AI-powered algorithms in portfolio

management based on the goals, risk tolerance, and market conditions of individual
customers.

-Financial Consultation Use AI-powered tools to offer customers individualized investment

advice and advice on financial matters.

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8. Regulatory Compliance

-Preventing money laundering and fraud AI can help banks adhere to Anti-Money Laundering
(AML) requirements by recognizing questionable transactions and activity.

-Reporting Requirements Automation of the process of creating and submitting regulatory

reports to authorities can benefit from AI.

9. Market Insights and Sentiment Analysis

- Examining social media Use artificial intelligence to track consumer sentiment on social
media channels, enabling the bank to respond to comments and adjust services as necessary.

-Market Predictions Implement artificial intelligence algorithms that examine market data to
forecast trends and help clients decide on investments wisely.

-A strong data infrastructure, engagement with AI specialists and vendors, a strategic strategy,
and a dedication to data security and privacy are all necessary for HDFC Bank or any other
bank to use AI successfully. AI systems must also be continuously monitored and improved
in order to adjust to shifting client needs and technology breakthroughs.

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BIBLIOGRAPHY

www.bankbazaar.com
www.hdfcbank.com
www.scholar.google.co.in
www.marketing91.com
www.quora.com
www.business-standard.com
www.en.wikipedia.org

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ANNEXURE

1. AGE GROUP

A. Less than 25

B. 25-35

C. 35-45

D. 45-55

E. 55 and above

2. GENDER

A. MALE

B. FEMALE

3. OCCUPATION

A. SERVICE

B. BUSINESS

C. PROFESSION

D. STUDENT

E. OTHER

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4. INCOME

A. 0 TO 50000

B. 50000 – 150000

C. 150000-250000

D. 250000-350000

E. 350000-450000

F. 450000-550000

G. 550000 and above

5. FOR HOW LONG ARE YOU A PART OF HDFC BANK?

A. LESS THAN 6 MONTHS

B. LESS THAN 1 YEAR

C. LESS THAN 2 YEARS

D. MORE THAN 2 YEARS

6. WHAT ARE THE REASONS THAT ATTRACT YOU TO BE A CUSTOMER OF

HDFC BANK?

A. PRODUCTS

B. SERVICES

C. IMAGE OF THE BANK

D. ALL OF THE ABOVE

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7. ARE YOU AWARE OF DIFFERENT PRODUCTS & SERVICES OFFERED BY
HDFC BANK?

A. YES

B. NO

C. SOME OF THEM

8. DO YOU KNOW ABOUT THESE PRODUCTS OF HDFC BANK?

A. SAVINGS A/C

B. FIXED DEPOSITS

C. CURRENT A/C

D. DEMAT A/C

E. CREDIT CARDS

F. MUTUAL FUNDS

G. LOAN

H. INSURANCE

9. .DO YOU KNOW ABOUT THE EXTRA SERVICES BEING PROVIDED BY THE
BANK?

A. YES

B. NO

C. SOME OF THEM

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10. WHICH OF THE FOLLOWING EXTRA SERVICE OF THE BANK WOULD
YOU LIKE TO GO IN FOR?

A. PHONE BANKING

B. ATM

C. NET BANKING

D. BILL PAYMENT

E. MOBILE BANKING

F. NONE OF THESE

G. ALL OF THESE

11. WHAT IS THE MAIN REASON THAT YOU TYPICALLY VISIT THE BANK
BRANCH?

A. TO MAKE A DEPOSIT

B. TO GET ADVICE FOR INVESTMENT OPTION

C. TO INQUIRE ABOUT THE BALANCE

D. TO WITHDRAW CASH

E. OTHER REASONS

12. HOW WILL YOU RATE HDFC BANK IN MAINTAINING GOOD CUSTOMER
RELATIONSHIP?

A. GOOD

B. AVERAGE

C. BAD

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13. IF YOU ARE PROVIDED WITH BETTER SERVICE OF OTHER BANKS,
WOULD YOU LIKE TO MOVE TO THE OTHER BANK?

A. YES

B. NO

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