( 5.2 ) SUMMARY OF FINDINGS

1. Distribution of different types of accounts held by the customers of Kotak Mahindra and HDFC Banks.

The results of the data collected show that there is no difference in the types of accounts that are held in the two banks. Out of 44 respondents of Kotak Mahindra Bank 33 respondents have a savings account which is similar to the data of HDFC Bank.

2. Distribution of different types of savings accounts held by the customers of Kotak Mahindra and HDFC Banks.

In both the banks customer preference is more towards availing a lower AQB account.

In case of Kotak Bank 30 out of 44 respondents availed Edge account (the lowest level account offered). This again highlights that Kotak Mahindra Bank can capitalize on the opportunity to convert these account holders into Ace or Pro account holders by educating them of the additional benefits available with these accounts.

3. Distribution of different types of current accounts held by the customers of Kotak Mahindra and HDFC Banks.

The graph highlights that in HDFC Bank there is more number of customers using higher end current account product than Kotak Mahindra Bank customers. In Kotak Mahindra Bank there are more users of Edge Current Account than Ace or Pro account. Thus there lies an opportunity for Kotak Bank to lure the customers to adopt Ace or Pro current accounts.

4. Distribution of income (per month) earned by the customers of Kotak Mahindra Bank and HDFC Bank.

The income reported by the respondents of the two banks is similar. The difference in the type of customers of the two banks lies in the fact that Kotak Mahindra Bank has customers whose income per month is greater than Rs. 1 lac. However out of 44 respondents of HDFC Bank no one had an income level greater than Rs. 1 lac.

5. Distribution of waiting time experienced by the respondents of Kotak Mahindra Bank and HDFC Bank in respective bank branches.

The data shows that 75% of the customers of Kotak Mahindra Bank have to wait less than ten minutes for their transaction to process. Only 25% of respondents have to wait for more than ten minutes. However in case of HDFC Bank 75% of the respondents have to wait for more than ten minutes for their transaction to process.

This highlights the efficiency of Kotak Mahindra Bank in providing quicker services to its customers.

6. Accessibility of bank branches

Out of 44 respondents of HDFC Bank 38 respondents feel that the branches of HDFC bank are easily accessible to them. Only 13% customers of HDFC Bank feel that the bank branches are not easily accessible. However in case of Kotak Mahindra Bank 31% of the respondents feel that branches of the bank are not easily accessible. This

implies that there is a need to increase the number of branches for Kotak Mahindra Bank.

7. Accessibility of ATMs

Out of 44 respondents of HDFC Bank 9% customers of HDFC Bank feel that the bank ATM is not easily accessible. However in case of Kotak Mahindra Bank 31% of the respondents feel that ATM of the bank is not easily accessible. Chi – Square test was conducted for the sample data of 88 respondents to see whether there is a significant difference in the accessibility of ATMs by the customers of Kotak Mahindra Bank and HDFC bank.

8. Distribution of preferred modes of banking by customers of Kotak Mahindra Bank and HDFC Bank.

The respondents of HDFC bank view both net banking and branch banking modes of banking as equal. However more respondents of Kotak Mahindra Bank prefer branch banking than net banking. Kotak Mahindra Bank could take measures to improve and promote net banking and educate its customers about net banking to improve its performance. This is also important because respondents feel that the branches of Kotak bank are not easily accessible. Thus to expand its customer base Kotak can focus to help customer adopt net banking mode.

9. Distribution of preference of customers for change in bank working hours of Kotak Mahindra Bank and HDFC Bank.

Of the total 44 respondents of Kotak Mahindra Bank 68% of the respondents feel that the bank should increase its working hours. Only 32% of the respondents feel that there is no need of increasing the working hours of the bank. Chi – Square test was conducted for the sample data of 88 respondents to see whether there is a significant difference felt in the need to increase the working hours by the customers of Kotak Mahindra Bank and HDFC bank.

10. Distribution of waiting time experienced by the respondents of Kotak Mahindra Bank and HDFC Bank in respective ATMs.

The data shows that approximately 75% of the customers of Kotak Mahindra Bank have to wait less than five minutes for their transaction to process. Only 27% of respondents have to wait for more than five minutes. However in case of HDFC Bank 61% of the respondents have to wait for more than five minutes for their transaction o process.

11. Receiving timely information regarding account

70% respondents of Kotak Mahindra Bank feel that they receive information regarding their accounts by the bank within proper time. Only 15% of the respondents of the bank feel that they do not receive timely information from the bank. However the data collected from HDFC bank shows that 52% respondents feel they receive timely information whereas 47% respondents felt that they do not receive updates of

information timely. This suggests that Kotak Bank provides better services than HDFC Bank.

12. Distribution of average monthly balance maintained by the customers of Kotak Mahindra Bank and HDFC Bank

In both the banks maximum number of respondents keep an average monthly balance of less than Rs. 25000 in their account.

13. Distribution of level of satisfaction experiences by the customers of the Kotak Mahindra Bank and HDFC Bank.

More than half of the respondents of HDFC Bank feel that they are not satisfied with the bank. On the other hand only 34% of the customers of Kotak bank feel that they are not satisfied with the bank. This clearly highlights the efficiency of Kotak Mahindra Bank in keeping its customers satisfied.

14. Distribution of level of satisfaction experienced by the customers of the Kotak Mahindra Bank and HDFC Bank with respect to the knowledge of bank employees.

The data reveals that 93% of the customers of Kotak Mahindra Bank feel that the bank employees are have knowledge to satisfy their queries.