AXIS BANK
A STUDY ON BANKING PROCEDURES
Objective
To study the nature of product & services of AXIS BANK. To know about the Banking Procedures.
RESEARCH METHODOLOGY Secondary data
LIMITATION OF STUDY
Project shows limited scope. The topic covers condense data.
BANKING IN INDIA
First bank was established in 1786. The journey of Indian Banking System can be segregated into three distinct phases.
PHASE I - Early phase from 1786 to 1969 of Indian Banks PHASE II - Nationalization of Indian Banks and up to 1991 PHASE III - Indian Financial & Banking Sector Reforms after 1991
INDIAN BANKING SYSTEM
CURRENT SCENARIO
The industry is currently in a transition. The Public Sector Bank`s in the process of shedding their flab in terms of excessive manpower, excessive non Performing Assets (NPA`S) and excessive governmental. The private sector banks are consolidation themselves through mergers and acquisitions.
AXIS BANK
Axis Bank Begun operations in 1994. Bank was promoted by UTI-I ,LIC & GIC Registered Office is at Ahmedabad & Central Office is at Mumbai The Bank has a 1281 branches & over 6270 ATMs
Axiss Mission And Values
Mission Customer Service and Product Innovation Continuous technology upgradation . Progressive globalization and achieving international standards. Efficiency and effectiveness built on ethical practices VISION 2015: To be the preferred financial solutions provider excelling in customer delivery through insight, empowered employees and smart use of technology
PRODUCTS AND SERVICES
ACCOUNTS Saving Account Current Account Salary Account
Procedure of Opening a Saving Account
The account opening form has to be filled. Requirement of 1 I.D proof and 1 Residence proof 2 passport size photographs Signature on the proofs of the applicant The amount required for opening the account has been taken The form has been filled by branch. Branch attached the documents with it and dispatched it to the Mumbai office. After three-four days the account has been opened Customer gets the welcome kit within 7 days.
DEPOSITS
Fixed Deposits Encash 24 Recurring Deposits Tax Saver Fixed Deposit
Procedure for Opening the Deposits
Required saving account with the bank. The fixed deposit (Encash24, Recurring Deposit) form has to be filled. The deposit can be done by cash or directly transferred from the account. After the deposit the F.D (Encash24, Recurring Deposit) has been created in the system. The printout of the deposit given to the customer The recurring deposit amount has been debited from the account every month.
LIMITS
Required amount for shorter period of time Interest charged on the amount used Limits made on the bussiness,land,stock
Procedure for Making a Limit
For Commission Agents For Farmers For SMEs
SMARTCARDS
Debit Card Credit Card Travel Card
Procedure for Debit Card
Applied at the time of account opening. Also be apply after that. A debit card form has been filled. Choose from the various debit cards according to their needs. The Procedure is same for all but the charges differs.
Procedure for Credit Card
A person must have a fixed deposit in the bank. A credit card apply form has to be filled. A person can choose from various credit cards according to the needs. Use 80% of the amount against the fixed deposit.
Procedure for Travel Card
Travel Cards made in the branch. According to the need of the customer. Bank will charge some amount for that. The travel card has been made on the desired amount of the customer.
INVESTMENT
Mohur Gold Coins Online Trading Mutual Funds
INSURANCE
Tie up with Max Life for the Life Insurance. Tie up with Bajaj Allianz for General Insurance.
Procedure for the Insurance
A person who wants to insure his product, life, vehicle can come to the branch For every insurance there are different forms For the life insurance a medical test has been done. If the person clears the test the insurance has been done The payment can be done either in cash form or directly debited from the account.
PAYMENT:
Bill Pay Direct Tax Payment
Procedure for Payments
There is software in the system which is used for it. A person who wants to pay the tax or bills can pay in the branch. A person gets his customer code from the income tax authority. Person has to fill that code into amount pay slip and deposit the money. Either he can give draft or cheque to the bank. For bill pay there is also codes which customer has to mention while paying.
Procedure for Making a Demand Draft
Required a saving account in the bank. A draft voucher has to be filled. The full detail mentioned on the voucher Charges are deducted from the account. After that the print has been made. When the DD has been issued a sign has been taken on the DD issue register.
Procedure for Doing (RTGS, NEFT)
Less than Rs 2 lakhs the NEFT has been done and above RTGS. For both the form is same. Full information has to given in the form. The cheque has to be cut of Yourself. The RTGS(NEFT) lodged in the system. The time for the RTGS is 24 hours and for NEFT it is 48 hours.
Procedure for Clearing
Customer drops the cheque in the clearing box. The cheques have been taken out and lodged in the system. For the same branch cheque lodged in the MICROUT For the other branch cheque lodged in the MICROUT1 The cheque of CMS has been lodged in MICROUT2. After lodging the cheque goes to the clearing house. At clearing house the cheques are exchanged by the different banks. The inward cheques have been lodged in the system. The amount has been credited or debited to the customer.
SUGGESTIONS
Maintain the growth at steady rate. Maximum promotion of products and increase in advertisements. Analyses competitors strategy and work on it, clearly. Providing services to customers in best of their manner. Educate the customers about the benefits of e- banking. Tapping the opportunities and trying to vanish the weakness Use its strength optimally to give its competitors a disadvantageous position.
CONCLUSION
LOANS
Home Loan Car Loan Personal Loan Loan Against Shares Loan Against Property Loan Against Security
