customer staisfacton and kyc

1. CUSTOMER SATISFACTION AND KYC IN THE
AMRITSAR CENTRAL CO-OPERATIVE BANK LTD.
 Presented by Ajayveer Singh Deol
 Roll no. 2014MGB1097
 MBA-B (GEN) 3rd semester

2. INTRODUCTION OF THE ORGANISATION
 The Amritsar Central Co-operative Bank Limited is one of
the District Central Co-operative Bank functioning for the
benefit of rural sector in Punjab.
 The present area of operation of this Bank is Amritsar,
Ajnala and Baba Bakala Tehsils. Earlier the Bank was
providing credit to the members of Co-operative societies
i.e. PAC/individuals handloom/ weaver/ LC societies etc.
But at present the bank is also providing credit to
individuals, firms, companies and sanities.

3. OBJECTIVES OF THE BANK
 To promote economic interest of the members of the bank
and the public in accordance with co-operative principles.
 To carry on Banking and credit business.
 To make arrangements for supervision and inspection of
its affiliated co-operative societies.
 To provide credit facilities to its members on convenient
and easy terms as practicable.
 To undertake such measures as are conducive to the spread
of co-operative education and training.
 To encourage its members by offering the suitable
facilities

4. MISSION OF THE BANK
 Promotion and sustenance of economic interest &
providing easy finance, cost effective and quality banking
services to customers & PACs.

5. INTRODUCTION TO TOPIC
 In a competitive marketplace where business complete for
customers, customer satisfaction is seen as a key
differentiator and increasingly has become a key element of
business strategy.
 Customers satisfaction refers to the extent to which are
happy with the products and provided by a business.
Customers satisfaction level can be measured using survey
techniques and questionnaires.
 Gaining high levels of customer satisfaction is very
important to a business because satisfied customers are
most likely to the loyal and to make repeat orders and to
use a wide range of services offered by an business.

6. KYC
 Know Your Customer – KYC enables banks to
know/understand their customers and their financial
dealings to be able to serve them better and prudently
manage the risks of Money Laundering and Financing of
Terrorism. It includes :-
 Put in place a system to monitor the accounts and
transactions on a regular basis.
 Update customer information and records at reasonable
intervals.
 Maintain proper records of customer identifications and
clearly indicate, in writing.
 Monitor and check unusually large cash transactions,
especially those which are out of character/ inconsistent
with the history.

7. OBJECTIVES OF THE STUDY
 To study the satisfaction level of the customer of Amritsar
Central Co-operative Bank Limited.
 To get information regarding different conditions to be
fulfilled for opening an account in Amritsar Central Co-
operative Bank Limited.
 To know about the different products and services provided
by Amritsar Central Co-operative Bank Limited.
 To know the type of facilities provided by Amritsar Central
Co-operative Bank limited.
 To Know the staff attitude towards bank's customers.
 To analyze the problems faced by the customers while
opening an account in Amritsar Central Co-operative Bank
Limited.

8. KYC
 To establish the identity of the client. This means
identifying the customer and verifying his/her identity by
using reliable, independent source documents, data or
information.
 To ensure that sufficient information is obtained on the
nature of employment/business that the customer
does/expects to undertake and the purpose of the account.
 To prevent banks from being used, intentionally or
unintentionally, by criminal elements for money
laundering activities.

9. RESEARCH METHODOLOGY
 Data Sources
Primary Sources : personal interview, observation. Questionnaire and
through schedules.
Secondary Sources : Text books, Internet sites, Newspaper articles
andBroachers.
 Research Approach: Descriptive and analytical research process.
 Sampling plan :
a)Sample unit : The target population must be defined that has to be
sampled. It is necessary so as to develop a sample frame so that everyone
in the target population has equal chance of being sampled.
b)Sample size : 50 Respondants
c)Contact methods : by telephone interview, personal interview, Mail etc.
here, in my survey, I have contacted the respondents through Personal
interviews.
d)Sampling technique : Random Sampling

10. DATA ANALYSIS AND INTERPRETATION
1) People having account in Amritsar Central Co-Operative Bank Ltd.
Interpretation:
 Amritsar Central Co-operative Bank Ltd. is one of the oldest Co-operative Bank in Punjab.
From the above table it is clear that all the 100% respondents are aware of Amritsar Central Co-
operative Bank Ltd.

11. 2) People aware of Banking Services provided by Amritsar Central co-
operative Bank Ltd.
Interpretation:
 The study show that maximum numbers of people are aware of saving account of
Amritsar Central Co-operative Bank Ltd. From the above table it is clear that 56% of
respondents are aware of saving account, 20% current account, 10% loan and fixed
deposits and remaining 4% are aware of agriculture loans.
Particulars No. of
Respondent
% of
Respondent
Saving A/c 28 56%
Current A/c 10 20%
Fixed Deposit 5 10%
Agriculture
Loans
2 4%
Loans 5 10%
Total 50 100

12. 3) Main criteria specified for opening an account in Amritsar Central Co-
operative Bank Ltd.
Interpretation:
 Majority of Respondents have opened an account in Amritsar Central Co-op. Bank Ltd.
Due to goodwill of the Bank, 24% due to nearness of Office to Bank, 20% due to good
staff behaviour and remaining 6% due to personal contacts with the Bank Staff.
Particulars No. of
Respondent
% of
Respondent
Goodwill of
bank
25 50%
Staff
Behaviour
10 20%
Nearness to
Bank
12 24%
Personal
Contact
3 6%
Total 50 100%

13. 4) Average time taken for any transaction by Amritsar Central Co-op. Bank Ltd.
Interpretation:
 Majority of the respondents said that the average time taken for transaction is between 5
to 10 minutes in their bank. 26% respondents said the average time taken for transaction
is between 10-15 minutes, 20% said it is between 15-20 minutes and remaining 14% said
that the average time taken for transaction by their bank is 20-25 minutes
Time Taken No. of
Respondent
% of
Respondent
5 to 10 min. 20 40%
10 to 15 min. 13 26%
15 to 20 min 10 20%
20 to 25 min 7 14%
Total 50 100

14. 5) How do you come to know about the Amritsar Central Co-operative Bank Ltd.
Interpretation:
 From the above graph it is clear that majority of the respondents have come to know
about the products and services of Amritsar Central Co-operative Bank Ltd. Through
newspaper. 30% of respondents have come to know about the product & services of
Amritsar Central Co-operative Bank Ltd. Through friends, 14% through pamphlets and
10% through hoarding, banner & television.
Particulars No. of
Respondent
% of
Respondent
TV 5 10%
Friends 15 30%
Hoarding/Banner 5 10%
News Paper 18 36%
Pamphlets 7 14%
Total 50 100

15. 6) From how long, you are dealing with Amritsar Central Co-operative Bank limited.
Interpretation:
 From the above table it is clear that 34% of customers are dealing with Amritsar Central
Co-operative Bank Ltd. from last 3-5 years, 26% customers are dealing with Bank from
last more than 5 years, 20% of customers are dealing with Bank from last 2-3 years, 10%
customers are dealing Bank for last 6 months and rest of them are dealing with Bank
from last one year
Duration No. of
Respondent
% of
Respondent
6 months 5 10%
1 Year 5 10%
2-3 Years 10 20%
3-5 Years 17 34%
More than 5
Years
13 26%
Total 50 100%

16. 7) Reason for opening an account with Amritsar Central Co-operative Bank Ltd.
Interpretation:
 From the above table it is clear that 24% of customers have opened their account due to
network for bank,52% due its quick services, 14% due to brand name, 10% due to staff
behaviour, 26% bec they are with bank for more than 5 years.
Responses No. of
Respondent
% of
Respondent
Network 12 24%
Quick Services 26 52%
Brand Name 7 14%
Staff Behaviour 5 10%
More than 5
Years
13 26%
Total 50 100%

17. 8) Satisfaction with the time taken by Bank for opening of Account.
Interpretation:
 The above table shows the percentage of satisfaction level of customer for opening of
Account. 50% of the customers are satisfied with the time taken by Bank for opening of
an account, 48% of the customers are highly satisfied with the time taken by bank for
opening at account & 2% of the customers are not satisfied with the time taken by bank
for opening of an Account. Therefore, it has been analyzed that most of the customers of
the bank are satisfied with the time taken by bank for opening of A/c in Amritsar Central
Co-operative Bank Ltd.
Level of
Satisfaction
No. of
Respondent
% of
Respondent
Highly
satisfactory
24 48%
Satisfactory 25 50%
Not
Satisfactory
1 2%
Total 50 100%

18. 9) Satisfaction with the services provided by Bank for opening of
Account.
Interpretation:
 From the above table it is clear that the majority of the respondents are satisfied with
products and services being provided by the Amritsar Central Co-operative Bank Ltd. As
compared to 70% satisfied customer 30% of respondents are not satisfied with products
and services of Amritsar Central Co-operative Bank Ltd.
Level of
Satisfaction
No. of
Respondent
% of
Respondent
Highly
satisfactory
24 48%
Satisfactory 25 50%
Not
Satisfactory
1 2%
Total 50 100%

19. 10) No. of Visits at Amritsar Central Co-operative Bank Ltd. in a month.
Interpretation:
 From the above graph it is clear that majority (70%) of the respondents visit the Amritsar
Central Co-operative Bank Ltd., 1-4 times in a month, 20% respondents visit 5-10 months
and remaining 10% respondents visit the Bank 11-15 times in a month.
No. of Visits No. of
Respondent
% of
Respondent
1-4 times 35 70%
5-10 times 10 20%
11-15 times 5 10%
Never 0 0%
Total 50 100%

20. 11) Would you like to recommend the name of Amritsar Central Co-op. Bank Ltd. To
your known persons?
Interpretation:
 From the above table it is clear that 86% customers would like to recommend the name
of the Amritsar Central Co-operative Bank Ltd. To other persons only 4% customers
would not like to recommend the name of Amritsar Central Co-op Bank Ltd. and 10%
customers are confused to give response.
Responses No. of
Respondent
% of
Respondent
Yes 43 86%
No 2 4%
Can't Say 5 10%
Total 50 100%

21. 12) How do you rate the attitude of staff of Amritsar Central Co-op. Bank Ltd.
towards customers?
Interpretation:
 From the above table it is clear that 14% respondents are highly satisfied with the
behaviour of staff of Amritsar Central Co-operative Bank Ltd. While 60% respondents
are satisfied with staff behaviour, 20% of the respondents are not satisfied with the staff
behaviour of Amritsar Central Co-operative Bank Ltd. and 4% are highly dissatisfied with
staff behaviour.
Responses No. of
Respondent
% of
Respondent
Highly
Satisfied
7 14%
Satisfied 30 60%
Dis Satisfied 10 20%
Highly Dis
satisfied
2 4%
Total 50 100%

22. 13) Are you satisfied with the overall performance of Amritsar Central Co-operative
Bank Ltd.
Interpretation:
 From the above table it is clear that the majority (80%) of the respondents are satisfied
with the overall performance of Amritsar Central Co-operative Bank Ltd. and remaining
20% respondents are not satisfied with the performance of the Amritsar Central Co-
operative Bank Ltd.
Satisfaction
Level
No. of
Respondent
% of
Respondent
Yes 40 80%
No 10 20%
Total 50 100%

23. FINDINGS OF THE STUDY
 It is clear that all the 100% respondents were aware of Amritsar central co-operative bank ltd.
 The study shows that maximum numbers of people are aware of saving account of Amritsar central co-operative bank
limited.
 Majority of the respondents have opened an account in Amritsar central co-operative bank limited due to goodwill of the
bank.
 Majority of the respondents said that the average time taken for transaction is between 5 to 10 minutes in their bank.
 It is revealed that majority of the respondents have come to know about the products and services of Amritsar central co-
operative bank ltd.
 The study shows that 34% of customers are dealing with Amritsar central co-operative bank ltd. from last 3-5 years.
 It is depicted from this study that 24% customers have opened their account in Amritsar central co-operative bank ltd. Due
to good network of branches.
 The study shows that the percentage of satisfaction level of customer for opening of account. 50% of the customers are
satisfied with the time taken by bank for opening of an account, 48% of the customers are highly satisfied with the time
taken by bank for opening at account & 2% of the customers are not satisfied with the time taken by bank for opening of an
account.
 It could be analyzed from the majority of the respondents are satisfied with products and services being provided by the
Amritsar central co-operative bank ltd.
 Majority (70%) of the respondents visit the Amritsar central co-operative bank ltd. 1-4 times in a month.
 It is revealed that 86% customers would like to recommend the name of the Amritsar central co-operative bank ltd. To other
persons.
 It is clear that majority (80%) of the respondents are satisfied with the overall performance of Amritsar central co-operative
bank ltd. And remaining 20% respondents are not satisfied with the performance of the Amritsar central co-operative bank
ltd.
KYC
 No respondant was willing to send information on their own at the very first attempt.
 A lot of queries amd questioning was done by cutomer against kyc.
 Some people showed up after 15 days i.e. after the deadline given to them.

24. RECOMMENDATIONS
 ATMs should be provided for the convenience of the customers, so that bank can give itself modern
look and customers are more satisfied.
 In order to create awareness regarding the various products and services provided by Amritsar central
co-operative bank ltd., various medium of media should be put to use to advertise about the services
provided by the bank.
 New strategies should be made by the bank which enables them to face the competition with other
government and private sectors bank like HDFC, ICICI and IDBI etc.
 Customers generally complain that full knowledge is not given to them. Thus the bank should
properly disclose the features of products and services being provided by the bank to their customers.
 The need of the customer should be properly understood so that customer feels satisfied. The
relationship values should be maintained.
 The branches should promote co-operation and coordination among employees which help them in
efficient working.
 Maintenance of proper hierarchy should be done. A good bierarchy set up can ensure better results
within bank.
 Banks should facelift their branch and give ultra modern outlook, so as to provide neat and nice
environment in branches.
KYC
 Banks should take steps to provide proper training to its employees on the statutory/ regulatory
requirements and the internal policy & procedures so that the risks are well understood and
managed.
 Employees should also be educated on the need for proper handling of customer queries.
 Distribution of pamphlets etc. .may be considered

25. LIMITATIONS OF THE STUDY
The limitation of the study are:
 Some of the respondents of the survey were unwilling to share
information.
 The research was carried out on in-house customers i.e. within the
branch in the small city of Punjab viz. Amritsar, so the response may
vary by including respondents from other branches in other areas as
well.
 The research was carried out in a short period of 6 weeks as a part of
summer training. Therefore the sample size and other parameters were
selected accordingly so as to finish the work within the given time
frame.
 The information given by the respondents might be biased because
some of them might not be interested to give correct information.

26. CONCLUSION
 The customer satisfaction is very important for success of bank. Only those banks will be
at the top, which can satisfy their customer. If the employees are performing their job
efficiently it will improve the level of customer relations.
 The face of Indian banking is changing rapidly. The competition and challenges in Indian
banking sector is increasing day by day. I made this project on the topic entitled
"Customer satisfaction & services provided by the Amritsar central co-operative bank
ltd." From the above study I concluded that the account holders of the Amritsar central
co-operative bank ltd. are satisfied with the bank.
 Amritsar central co-operative bank ltd. Is the most reputed co-operative sector bank in
Punjab. The bank has to take necessary initiatives in order to increase customer base. The
bank should increase number of branches and install ATMs at the prime locations of
Amritsar.
 The bank can also introduce gifts and prizes from time to time. The interest for different
deposit account should be increased.
 From the above study, I can conclude that Amritsar central co-operative bank ltd. Has
maintained excellent position in the market and the customers are satisfied with the
overall performance of Amritsar central co-operative bank ltd. So, we can say that
Amritsar central co-operative bank ltd. Is well known for understanding the customers
needs in the modern era of banking.

27. THANK YOU