Cultural Values And Its Impact On Identity - 907 Words

People has been trying to find their own identity throughout their lives. Identity, in fact, is a changing subject that are influenced by many different experiences and circumstances. Identity is the product of varieties of sources and is hard to return to its original shape. The society and the environment that people grow up in play major roles in impacting their identity. Changes in these environments create an ever-lasting changes in these identity. Identity slowly becomes concealed in order to help people better survive in their society. People’s real identity becomes hidden so that they can better cope with the changes in culture, learning experience, society’s expectations, and, stereotype. Sometimes, people have to hide their concerns and identity in order to obey cultural changes and avoid being culturally excluded. Culture impacts people’s background and values. Their culture plays a major role in determining who they are. Cultural practices and values may change as the culture goes through different experiences. However, there are times that these cultural values and practices become incorrect as they are changed. Yet, it is difficult for people to question these values and beliefs. For example, Terry Tempest Williams states that in â€Å"The Clan of One- Breasted Women† that â€Å"obedience is revered, and independent thinking is not† (546). Independent thinking are eliminated in order to avoid differences in opinions within the culture. Cultures appreciate obedienceShow MoreRelatedBan Increasing Independence With Limits1648 Words   |  7 Pagesparental discipline as one of the most important family risk factors for youth delinquency and viol ence. These and other authors point out that AI parents in recent generations have not had good role models for parental discipline due to the long-term impact of children having been taken from families and raised in boarding schools. These children, once parents themselves, were not able to draw from experiences of traditional parenting. Thus, while the establishment of consistent, age-appropriate disciplineRead MoreCulture And Identity : What Makes A Person Who They Are1351 Words   |  6 PagesCulture and identity could have numerous diverse definitions due to its nature of being â€Å"a composite of multiple integrated identities† (Samovar, Porter, McDaniel Roy, 2013, p. 216). As most would agree, culture is what makes a person who they are. The distinct relationship between identity and culture is one where they co-exist and correlate with one another. It is the assured characteristic that belongs to a person which makes them different from everyone else in the wor ld. Like a gene, it distinctivelyRead MoreEveryday Use By Alice Walker1698 Words   |  7 Pagesculture. To fully understand self-identity you need to investigate all the cultures you are included in your family and heritage. In the short story, â€Å"Everyday Use† Alice Walker takes a deep look into heritage. This story has a complicated relationships between the mamma and her two daughters. In this short story, it shows that your heritage will form your life. This will make you the person you are today. Culture is one of the most important part of self-identity. It contributes to how an individualRead More Shaping Identity Essay839 Words   |  4 Pages Shaping Identity Identity. What is identity? One will say that it is the distinct personality of an individual. Others will say that identity is the behavior of a person in response to their surrounding environment. At certain points of time, some people search for their identity in order to understand their existence in life. In regards, identity is shaped into an individual through the social trials of life that involve family and peers, the religious beliefs by the practice of certain faithsRead MoreThe Hidden Assault On Our Civil Rights1121 Words   |  5 Pagesculture, and shifting between the two cultures depending on his social physical environment. Yoshino attempts to play two identities by remain at the center of his social interaction but expresses the key challenges that are associated with preservation of authenticity in the midst of prevailing cultural stereotypes. This raises key questions about authenticity and its value in the society. In her article â€Å"Alone Together,† Tur kel observes that authenticity is increasingly losing its significanceRead MoreShaping Identity840 Words   |  4 PagesShaping Identity Identity. What is identity? One will say that it is the distinct personality of an individual. Others will say that identity is the behavior of a person in response to their surrounding environment. At certain points of time, some people search for their identity in order to understand their existence in life. In regards, identity is shaped into an individual through the social trials of life that involve family and peers, the religious beliefs by the practice of certain faithsRead MoreMulticultural Psychology Essay900 Words   |  4 Pagesin which people from different cultural backgrounds interact defines multicultural psychology. Many consider multicultural psychology a fourth force in psychology study. Communication, interactions, research, and investigations into human behaviors give insight into how different cultures interact socially and how they live among the different ethnic groups. Many issues have emerged in multicultural psychology. Two issues discussed in this paper, cultural identity and baby boomers, describe someRead MoreCultural Identity, I Believe, Is A Sense Of Belonging Or1078 Words   |  5 PagesCultural identity, I believe, is a sense of belonging or connection to a social group. It is a self-perception influenced through nationality, race, ethnicity, and religious affiliation – just to name a few. Highly similar to the description provided in the textbook, in which people may identify â€Å"with ethnic, religious, or national identity becoming increasingly dynamic and a matter of individual choice,† (Shiraev Levy, 2017, p.8) captivating the combination of different backgrounds, ideas, andRead MoreDiversity Issues in Career Counseling Essay755 Words   |  4 Pages Abstract This paper will give a brief overview of how bias, assumptions and diversity can impact the career counseling relationship. The impact of values, bias, and the ability to move beyond barriers in the counseling relationship is essential to successful outcomes in working with clients. The rationale for the appropriateness of multicultural counseling competency and the impact of culture in the counseling process will be discussed as will multicultural counseling in the frameworkRead MoreDiversity, Racial, And Cultural Factors1277 Words   |  6 Pages Multicultural competence is defined as acquiring the essential skills in order to interact successful with individuals of diverse cultural or ethnic backgrounds (Holcomb- Mc Coy Myers, 1999). Multicultural competency in counseling helps clinicians diminish the deeply rooted assumptions of a particular group and enables them understand their own values and gain a better perspective and empathy to successfully respond towards the needs of diverse populations. Clinicians are able to learn and recognize

Personal Networking Free Essays

Personal networking is a concept that has gained much relevance overtime it has especially been advanced by capitalism in that man tends to utilize labor from other as well as resources at his / her disposal to make ends meet. In the process it becomes important that one must often rely on peers and acquaintances in order to be successful in both social – economic arena as well as political arena. Although the term is controversial as at is mysterious, many explanations have surfaced. We will write a custom essay sample on Personal Networking or any similar topic only for you Order Now For instance there are those who argue that networking is morally wrong for it leads to marginalization or at least exemplifies it. In that regard those who take that view are opposed to networking concept mainly because it puts some people at disadvantage and this leads to inequality. For an instance in highly unprofessional business environments, job advertisements are not done appropriately. Therefore getting employed in such an environment requires one to have access to insider information on the company. This comes in the form of how networked one is. Networking simply refers to endless efforts of that are put to get connected or make connections for as to facilitate changes with other people or business. It actually involves knowing people as other businesses. It also entails developing communication process with these people and businesses. The communication involved here should be critical and of the accepted language that is persuasive and attracting should be encouraged. This attracts more people who in this are the customers as well as promoting god relationship with other businesses sometimes that leads to increase in profits and consequently success of the business. Networking involves exchanging, interacting and exchanging ideas or referrals, which it demands that trust must be, build between or among the involved parties. Networking is done anywhere for instance when tow people meet at a certain place they can decide to exchange their business cards. This can also happen to more than two people and it is very help full since incase one of them lands on to a job he/she can contact the others. Hence e networking is a very highly appreciated practice since it can alter these living standards. Networking is done al the time and is very essential especially when a newly established business is in need for a fast growth and success. It should network with the other businesses. The managers should network with those of other businesses so that they stand in a position of acquiring ideas that can help them cause tremendous growth to their businesses whenever they apply them. It should also seek to network with customers, offering quick and standard services so that the customers rest assures and trust the business in all its endeavors This will lead to customers recommending the business, which is simply networking. Through giving recommendations on the well services offered by the business, the customers will have networked with the business and more customers will chip in to benefit from the services. This way, the business will attain a fast growth since profits will be high. Networking is very important also for individuals who are engaged in provision of quality products or those who are involved in doing quality work. If these people really want success in their undertakings, they should interact with other people and give out their products. They will also in return get a lot of positive recommendations or reinforcement from the people and this is all what networking entails. Personal networking entails Personal networking is very important and can even help someone in finding a new job. As long as one has quality performance, one just need to reach out for those people who are in the highest ranks in the job and this will enable the person get a job easily. In order to network, one needs to know quite a lot of people, as well as establishing relationships with new people Businesses that practice networking establish very good relationship with the customers as well as the employers. Through networking, the businesses are able to reveal the services that they offer to their customers as well as how it operates. A good relationship between the business and the customers is established and this leads to fast growth of the business (Blyler, Roundy,1993). Through networking also, businesses are able to open up their suppliers and if for example the business is unstable, a consensus may be reached for the supplier to be collecting their dues after an agreed period of tie. This promotes fast growth of the business. Every business organization should have a well-established communication method for it to experience success. Communication is a very important tool in business since it is only through communicating that the business can access its suppliers as well as other business counterparts. It is also important since it helps the business to pass information to its customers for example information about change of location, change in costs, or even introduction of a new property or service in the business. There quite different methods of communication in any business organization. These may include (a) Written method of communication This is a method of communication that uses letters to pass information. It is useful especially for the deaf or those people who have hearing problems, though they can still use sign language. Written method of communication is effective since the message is conveyed very fast once it is read by a few people. Written method or simply use of letters can be essential both for internal communication as well as external communication. They can be used to communicate to workers on pay rises, disciplinary measures as well as promotions. They can also include use of diagrams but this mostly depends on the nature of the message. This method of communication is cheap since no electronics are used moreover, there is a record kept for reference purposes. It also contains a lot of information especially when use of figures is practiced. However, written method of communication can be sometimes unreliable since it can be distorted or get lost. There is also possibility of not reaching the addressed people and can also be inconvenient method especially when the information to be communicated is urgent. This is due to the fact it takes quite a lot of time to construct the letters. There is no evidence whether the message has been delivered and received by the concerned people unless the concerned provides feedback. Additionally, the written form of communication a lot uncertainties since in case of wrong information, the recipients reply to it as it is. (b) Visual method of communication According to, Spitzberg, and Cupach. (1984). This also keeps workers informed on what is going on within the business enterprise. It mainly consists of picture accompanied by text. The picture or diagram has a meaning that is intended to pass across. This method of communication is very time consuming especially in drawing the pictures and the diagrams. Wrong information is likely to be passed to the concerned people, for example where the person drawing the pictures is not well conversant with relating the intended message to be communicated and the picture to represent this. However, if the pictures are kept attractive and eye catching, (Asante, Gudykunst, 1989) they tend to draw attention of many people and if the message is well depicted in the pictures, then many people receives it. c) High tech method of communication. This simply refers to use of electronic communication, such as computers, televised pictures, e-mails, telephones as well as telex. It is a method that has facilitated communication process in terms of speed and reliance. For instance, use of e-mails in businesses for communicating takes a very short period of time and it is very reliable since an assurance that the intended recipients get the information is created. This method of communication is also used to reach people who are very far for example outside the country since there is a provision for Wide Area Network (WAN). This leads to attraction of customers from far and wide, who get to network with the business and hence success is achieved. In addition, accuracy is a very important element that is also achieved through use of this method as well as provision of immediate feedback. However, this method of communication is very expensive, for instance, it costs the business enterprise a lot of resources to buy computers, VDU screens as well as fixing telephones and telephone lines. Leiss, (1990) states that effective communication is the key factor that enhances administrative function. Effective communication simply refers to passing of the required messages to the intended recipients and ensuring that the messages reach the targeted people who are the recipients. It also entails use of the right communication channels that ensures which ensures that all the recipients have got the message as well as using the correct and the right language, which ought to be polite in passing messages. Administration is a very important practice in any business organization since it is through it that a peaceful working environment as well as an organized running of the organization is achieved. For the administrative functions to be satisfactorily met, effective communication should be encouraged. Guidelines to effective communication include: The urgency of the message to be communicated should be considered so as to be able to choose the effective method of communication. Here, very urgent messages should be communicated through High tech methods while those which are not urgent can be communicated through written methods. In order to communicate effectively, the administration also should consider the target or rather the audience. If for example, the target recipients of the message are deaf people, then the best methods of communications to be used are visual and written methods. Using oral communication in this scenario hinders communication and this leads to communication barrier, something that affects the business negatively leading to its collapse or losses. Effective communication is also achieved through realization and consideration of the other people’s interests, values as well as respect for their well being. This means that, no messages that demand people to do things that they cannot afford or are beyond their capabilities should be conveyed to the people(Stocklmayer, Gore, Bryant, 2001). Effective communication should also put into considerations the time when the message is being conveyed to the recipients. For instance, Messages that come from the administration at the closing hour of the business when most of the workers are in a rush to reach their respective homes or attend to other duties are most likely not to be given the required attention (Allen, 1987). This then leads to poor flow of messages within the hierarchy. However, messages that are released or passed to the recipients in the morning hours are likely to draw quite a lot of attention from the recipients. This leads to a very nice flow of information and the overall result is success to the business since coordination will be maintained. Conclusion. Personal networking is very useful and important. It is one of the most attributes that a person can use to reach higher levels of success for example when one secures a good job through his efforts in meeting and making new friends. Networking is also very essential in business for it is only the way through which the businesses get to be known by quite a lot of people who also become the customers and this translates to success. How to cite Personal Networking, Papers

HDFC Bank free essay sample

Private banking is a concept which is new and fast emerging in the world of banking where changes have become a necessity in order for banks to survive in this competitive environment vis-a-vis not only from the public and private sector banks but also from the foreign banks. The objective of the research is to explore the various products, which a private banker deals into and the systematic process involved to match client requirements with the right kind of product. Through this research one of the main objectives is to explore the reason why most of the banks are injecting private banking as business profile to their set of service offerings. Though private banking evolved in late 80’s in Asia, in India its not more than 15 years old. HDFC started it in Aug 1994 and since then it has been a remarkable success. Today there are enormous solutions to cater client needs but what suits best to a client is where private banking fits in. Every client will have different needs, liking and preferences. So a customized portfolio for every client is the need of the day. This research will highlight more on the product portfolio of HDFC Private Banking, how they have changed or innovatively structured to be attractive and competitive. Research objective 1. To identify the major attributes of customer satisfaction. 2. To study customer perception about HDFC BANK Ltd. 3. To identify and study the various ways of ensuring customer satisfaction adopted by HDFC. BANKING STRUCTURE IN INDIA Scheduled Banks in India (A) Scheduled Commercial Banks Public sector Banks Private sector Banks Foreign Banks in India Regional Rural Bank (28) (27) (29) (102) Nationalized Bank Other Public Sector Banks (IDBI) SBI and its Associates Old Private Banks New Private Banks (B) Scheduled Cooperative Banks Scheduled Urban Cooperative Banks (55) Scheduled State Cooperative Banks (31) Here we more concerned about private sector banks and competition among them. Today, there are 27 private sector banks in the banking sector: 19 old private sector banks and 8 new private sector banks. The banks which have been setup in the 1990s under the guidelines of the Narasimham Committee are referred to as NEW PRIVATE SECTOR BANKS. introduction The banking section will navigate through all the aspects of the Banking System in India. It will discuss upon the matters with the birth of the banking concept in the country to new players adding their names in the industry in coming few years. The banker of all banks, Reserve Bank of India (RBI), the Indian Banks Association (IBA) and top 20 banks like IDBI, HSBC, HDFC, ABN AMRO, etc. has been well defined under three separate heads with one page dedicated to each bank. However, in the introduction part of the entire banking cosmos, the past has been well explained under three different heads namely: History of Banking in India Nationalization of Banks in India Scheduled Commercial Banks in India The first deals with the history part since the dawn of banking system in India. Government took major step in the 1969 to put the banking sector into systems and it nationalized 14 private banks in the mentioned year. This has been elaborated in Nationalization Banks in India. The last but not the least explains about the scheduled and unscheduled banks in India. Section 42 (6) (a) of RBI Act 1934 lays down the condition of scheduled commercial banks. The descriptions along with a list of scheduled commercial banks are given on this page. HISTORY OF BANKING IN INDIA Without a sound and effective banking system in India it cannot have a healthy economy. The banking system of India should not only be hassle free but it should be able to meet new challenges posed by the technology and any other external and internal factors. For the past three decades Indias banking system has several outstanding achievements to its credit. The most striking is its extensive reach. It is no longer confined to only metropolitans or cosmopolitans in India. In fact, Indian banking system has reached even to the remote corners of the country. This is one of the main reasons of Indias growth process. The governments regular policy for Indian bank since 1969 has paid rich dividends with the nationalization of 14 major private banks of India. Not long ago, an account holder had to wait for hours at the bank counters for getting a draft or for withdrawing his own money. Today, he has a choice. Gone are days when the most efficient bank transferred money from one branch to other in two days. Now it is simple as instant messaging or dial a pizza. Money have become the order of the day. The first bank in India, though conservative, was established in 1786. From 1786 till today, the journey of Indian Banking System can be segregated into three distinct phases. They are as mentioned below: Early phase from 1786 to 1969 of Indian Banks Nationalization of Indian Banks and up to 1991 prior to Indian banking sector Reforms. New phase of Indian Banking System with the advent of Indian Financial Banking Sector Reforms after 1991. To make this write-up more explanatory, I prefix the scenario as Phase I, Phase II and Phase III. Phase I The General Bank of India was set up in the year 1786. Next came Bank of Hindustan and Bengal Bank. The East India Company established Bank of Bengal (1809), Bank of Bombay (1840) and Bank of Madras (1843) as independent units and called it Presidency Banks. These three banks were amalgamated in 1920 and Imperial Bank of India was established which started as private shareholders banks, mostly Europeans shareholders. In 1865 Allahabad Bank was established and first time exclusively by Indians, Punjab National Bank Ltd. was set up in 1894 with headquarters at Lahore. Between 1906 and 1913, Bank of India, Central Bank of India, Bank of Baroda, Canara Bank, Indian Bank, and Bank of Mysore were set up. Reserve Bank of India came in 1935. During the first phase the growth was very slow and banks also experienced periodic failures between 1913 and 1948. There were approximately 1100 banks, mostly small. To streamline the functioning and activities of commercial banks, the Government of India came up with The Banking Companies Act, 1949 which was later changed to Banking Regulation Act 1949 as per amending Act of 1965 (Act No. 23 of 1965). Reserve Bank of India was vested with extensive powers for the supervision of banking in India as the Central Banking Authority. Phase II Government took major steps in this Indian Banking Sector Reform after independence. In 1955, it nationalized Imperial Bank of India with extensive banking facilities on a large scale especially in rural and semi-urban areas. It formed State Bank of India to act as the principal agent of RBI and to handle banking transactions of the Union and State Governments all over the country. Seven banks forming subsidiary of State Bank of India was nationalized in 1960 on 19th July, 1969, major process of nationalization was carried out. It was the effort of the then Prime Minister of India, Mrs. Indira Gandhi. 14 major commercial banks in the country was nationalized. Second phase of nationalization Indian Banking Sector Reform was carried out in 1980 with seven more banks. This step brought 80% of the banking segment in India under Government ownership. The following are the steps taken by the Government of India to Regulate Banking Institutions in the Country: 1949: Enactment of Banking Regulation Act. 1955: Nationalization of State Bank of India. 1959: Nationalization of SBI subsidiaries. 1961: Insurance cover extended to deposits. 1969: Nationalization of 14 major banks. 1971: Creation of credit guarantee corporation. 1975: Creation of regional rural banks. 1980: Nationalization of seven banks with deposits over 200 crore. After the nationalization of banks, the branches of the public sector bank India rose to approximately 800% in deposits and advances took a huge jump by 11,000%. Banking in the sunshine of Government ownership gave the public implicit faith and immense confidence about the sustainability of these institutions. Phase III This phase has introduced many more products and facilities in the banking sector in its reforms measure. In 1991, under the chairmanship of M Narasimham, a committee was set up by his name which worked for the liberalization of banking practices. The country is flooded with foreign banks and their ATM stations. Efforts are being put to give a satisfactory service to customers. Phone banking and net banking is introduced. The entire system became more convenient and swift. Time is given more importance than money. BANKS IN INDIA In India the banks are being segregated in different groups. Each group has their own benefits and limitations in operating in India. Each has their own dedicated target market. Few of them only work in rural sector while others in both rural as well as urban. Many even are only catering in cities. Some are of Indian origin and some are foreign players. All these details and many more is discussed over here. The banks and its relation with the customers, their mode of operation, the names of banks under different groups and other such useful information’s are talked about. One more section has been taken note of is the upcoming foreign banks in India. The RBI has shown certain interest to involve more of foreign banks than the existing one recently. This step has paved a way for few more foreign banks to start business in India. Major Banks in India ABN-AMRO Bank Abu Dhabi Commercial Bank American Express Bank Andhra Bank Allahabad Bank Bank of Baroda Bank of India Bank of Maharastra Bank of Punjab Bank of Rajasthan Bank of Ceylon BNP Paribas Bank Canara Bank Catholic Syrian Bank Central Bank of India Centurion Bank China Trust Commercial Bank Citi Bank City Union Bank Corporation Bank Dena Bank Deutsche Bank Development Credit Bank Dhanalakshmi Bank Federal Bank HDFC Bank HSBC HDFC Bank IDBI Bank Indian Bank Indian Overseas Bank IndusInd Bank ING Vysya Bank Jammu Kashmir Bank JPMorgan Chase Bank Karnataka Bank Karur Vysya Bank Laxmi Vilas Bank Oriental Bank of Commerce Punjab National Bank Punjab Sind Bank Scotia Bank South Indian Bank Standard Chartered Bank State Bank of India (SBI) State Bank of Bikaner Jaipur State Bank of Hyderabad State Bank of Indore State Bank of Mysore State Bank of Saurastra State Bank of Travancore Syndicate Bank Taib Bank UCO Bank Union Bank of India United Bank of India United Bank Of India United Western Bank UTI Bank Fact Files of Banks in India The first, the oldest, the largest, the biggest, get all such types of information’s about Banking in India in this section. The first bank in India to be given an ISO Certification Canara Bank The first bank in Northern India to get ISO 9002 certification for their selected branches Punjab and Sind Bank The first Indian bank to have been started solely with Indian capital Punjab National Bank The first among the private sector banks in Kerala to become a scheduled bank in 1946 under the RBI Act South Indian Bank Indias oldest, largest and most successful commercial bank, offering the widest possible range of domestic, international and NRI products and services, through its vast network in India and overseas State Bank of India Indias second largest private sector bank and is now the largest scheduled commercial bank in India The Federal Bank Limited Bank which started as private shareholders banks, mostly Europeans shareholders Imperial Bank of India The first Indian bank to open a branch outside India in London in 1946 and the first to open a branch in continental Europe at Paris in 1974 Bank of India, founded in 1906 in Mumbai The oldest Public Sector Bank in India having branches all over India and serving the customers for the last 132 years Allahabad Bank The first Indian commercial bank which was wholly owned and managed by Indians Central Bank of India Bank of India was founded in 1906 in Mumbai. It became the first Indian bank to open a branch outside India in London in 1946 and the first to open a branch in continental Europe at Paris in 1974. PUBLIC SECTOR BANKS Among the Public Sector Banks in India, United Bank of India is one of the 14 major banks, which were nationalized on July 19, 1969. Its predecessor, in the Public Sector Banks, the United Bank of India Ltd. , was formed in 1950 with the amalgamation of four banks viz. Camilla Banking Corporation Ltd. (1914), Bengal Central Bank Ltd. (1918), Camilla Union Bank Ltd. (1922) and Hooghly Bank Ltd. (1932). Oriental Bank of Commerce (OBC), Government of India Undertaking offers Domestic, NRI and Commercial banking services. OBC is implementing a GRAMEEN PROJECT in Dehradun District (UP) and Hanumangarh District (Rajasthan) disbursing small loans. This Public Sector Bank India has implemented 14 point action plan for strengthening of credit delivery to women and has designated 5 branches as specialized branches for women entrepreneurs. The following are the list of Public Sector Banks in India Allahabad Bank Andhra Bank Bank of Baroda Bank of India Bank of Maharastra Canara Bank Central Bank of India Corporation Bank Dena Bank Indian Bank Indian Overseas Bank Oriental Bank of Commerce Punjab Sind Bank Punjab National Bank Syndicate Bank UCO Bank Union Bank of India United Bank of India Vijaya Bank List of State Bank of India and its subsidiary, a Public Sector Banks State Bank of India State Bank of Bikaner Jaipur State Bank of Hyderabad State Bank of Indore State Bank of Mysore State Bank of Saurastra State Bank of Travancore PRIVATE SECTOR BANKS: Private banking in India was practiced since the beginning of banking system in India. The first private bank in India to be set up in Private Sector Banks in India was IndusInd Bank. It is one of the fastest growing Bank Private Sector Banks in India. IDBI ranks the tenth largest development bank in the world as Private Banks in India and has promoted world class institutions in India. The first Private Bank in India to receive an in principle approval from the Reserve Bank of India was Housing Development Finance Corporation Limited, to set up a bank in the private sector banks in India as part of the RBIs liberalization of the Indian Banking Industry. It was incorporated in August 1994 as HDFC Bank Limited with registered office in Mumbai and commenced operations as Scheduled Commercial Bank in January 1995. ING Vysya, yet another Private Bank of India was incorporated in the year 1930. Bangalore has a pride of place for having the first branch inception in the year 1934. With successive years of patronage and constantly setting new standards in banking, ING Vysya Bank has many credits to its account. List of Private Banks in India Bank of Punjab Bank of Rajasthan Catholic Syrian Bank Centurion Bank City Union Bank Dhanalakshmi Bank Development Credit Bank Federal Bank HDFC Bank HDFC Bank IDBI Bank IndusInd Bank ING Vysya Bank Jammu Kashmir Bank Karnataka Bank Karur Vysya Bank Laxmi Vilas Bank South Indian Bank United Western Bank INDIAN BANKING INDUSTRY The Indian banking market is growing at an astonishing rate, with Assets expected to reach US$1 trillion by 2010. An expanding economy, middle class, and technological innovations are all contributing to this growth. The country’s middle class accounts for over 320 million People. In correlation with the growth of the economy, rising income levels, increased standard of living, and affordability of banking products are promising factors for continued expansion. The Indian banking market is growing at an astonishing rate, with Assets expected to reach US$1 trillion by 2010. An expanding economy, middle class, and technological innovations are all contributing to this growth. Source: The Indian banking Industry is in the middle of an IT revolution, Focusing on the expansion of retail and rural banking. Players are becoming increasingly customer centric in their approach, which has resulted in innovative methods of offering new banking products and services. Banks are now realizing the importance of being a big player and are beginning to focus their attention on mergers and acquisitions to take advantage of economies of scale and/or comply with Basel II regulation. â€Å"Indian banking industry assets are expected to reach US$1 trillion by 2010 and are poised to receive a greater infusion of foreign capital,† says Prathima Rajan, analyst in Celents banking group and author of the report. â€Å"The banking industry should focus on having a small number of large players that can compete globally rather than having a large number of fragmented players. \ WE UNDERSTAND YOUR WORLD Type : Public (BSE: 500180, NYSE: HDB) Founded : 1994 Headquarters : Mumbai, India Industry : Banking Insurance Capital Markets and allied Industries Products : Financial services. Website : www. hdfcbank. com Key people : Jagdish kapoor (Chairman) OVERVIEW The Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive an in principle approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as part of the RBIs liberalization of the Indian Banking Industry in 1994. The bank was incorporated in August 1994 in the name of HDFC Bank Limited, with its registered office in Mumbai, India. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995. HDFC is Indias premier housing finance company and enjoys an impeccable track record in India as well as in international markets. Since its inception in 1977, the Corporation has maintained a consistent and healthy growth in its operations to remain the market leader in mortgages. Its outstanding loan portfolio covers well over a million dwelling units. HDFC has developed significant expertise in retail mortgage loans to different market segments and also has a large corporate client base for its housing related credit facilities. With its experience in the financial markets, a strong market reputation, large shareholder base and unique consumer franchise, HDFC was ideally positioned to promote a bank in the Indian environment. HDFC Bank began operations in 1995 with a simple mission : to be a â€Å" World Class Indian Bank. † We realized that only a single mindedfocus on product quality and service excellence would help us get there. Today, we are proud to say that we are well on our way towards that goal. The Bank’s staffing needs continued to increase during the year particularly in the retail banking businesses in line with the business growth. Total number of employees increased from 14878 as of March31,2006 to 21477 as of March 31, 2007. The Bank continues tofocus on training its employees on a continuing basis, both on the joband through training programs conducted by internal and externalfaculty. The Bank has consistently believed that broader employee ownership of its shares has a positive impact on its performance and employee motivation. The Bank’s employee stock option scheme so far covers around 9000 employees. It is more important for every organization to know about from where and where to spent money. And balanced between these two things rupee earned and rupee spent are required for smooth running of business and financial soundness. This type of watch can control and eliminate the unnecessary spending of business. In this diagram it include both things from where Bank earned Rupee and where to spent. HDFC BANK earned from the ‘Interest from Advances’ 51. 14 % ,‘Interest from Investment’ 27. 12 %, bank earned commission exchange and brokerage of 15. 25 %. These are the major earning sources of the bank. Bank also earned from the Forex and Derivatives and some other Interest Income. Bank spent 39. 75 % on Interest Expense, 30. 27 % on Operating Expense and 14. 58 % on Provision. Bank also spent Dividend and Tax on dividend, Loss on Investment , Tax. As we discuss above that balancing is must between these two for every organization especially in the era of globalization where there are stiff competition among various market players. The combined entity would have a nationwide network of 1167 branches; a strong deposit base of around Rs. 1,22,000 crores and net advances of around Rs. 89,000 crores. The balance sheet size ofthe combined entity would be over Rs. 1,63,000 crores. On March 27, 2008, the shareholders of the Bank accorded their consent to a scheme of amalgamation of Centurion Bank of PunjabLimited with HDFC Bank Limited. The shareholders of the Bank approved the issuance of one equity share of Rs. 10/- each of HDFC Bank Limited for every 29 equity shares of Re. 1/- each held in Centurion Bank of Punjab Limited. This is subject to receipt of Approvals from the Reserve Bank of India, stock exchanges and Other requisite statutory and regulatory authorities. The shareholders Also accorded their consent to issue equity shares and/or warrants convertible into equity shares at the rate of Rs. 1,530. 13 each to HDFC Limited and/or other promoter group companies on preferentialbasis, subject to final regulatory approvals in this regard. The Shareholders of the Bank have also approved an increase in theauthorized capital from Rs. 450 crores to Rs. 550 crores. Promoted in 1995 by Housing Development Finance Corporation (HDFC), Indias leading housing finance company, HDFC Bank is one of Indias premier banks providing a wide range of financial productsand services to its over 11 million customers across hundreds of Indian cities using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking. Within a relatively short span of time, the bank has emerged as a leading player in retail banking, wholesale banking, and treasury operations, its three principal business segments. The banks competitive strength clearly lies in the use of technology and the ability to deliver world-class service with rapid response time. Over the last 13 years, the bank has successfully gained market share in its target customer franchises while maintaining healthy profitability and asset quality. As on March 31, 2008, the Bank had a network of 761 branches and 1,977 ATMs in 327 cities. For the year ended March 31, 2008, the Bank reported a net profit of INR 15. 90 billion (Rs. 1590. 2crore),up 39. 3%, over the corresponding year ended March 31, 2007. As of March 31, 2008 total deposits were INR 1007. 69 billion,(Rs. 100,769 crore) up 47. 5% over the corresponding year ended March 31, 2007. Total balance sheet size too grew by 46. 0% to INR 1,331. 77 billion (133177 crore). Leading Indian and international Publications have recognized the bank for its performance and Quality ACHIEVEMENT IN 2007 Business Today-Monitor Group survey One of Indias Most Innovative Companies Financial Express-Ernst Young Award Best Bank Award in the Private Sector category Global HR Excellence Awards Asia Pacific HRM Congress: Employer Brand of the Year 2007 -2008 Award First Runner up, many more Business Today Best Bank Award Dun Bradstreet – American Express Corporate Best Bank Award 2007 Corporate Best Bank Award The Bombay Stock Exchange and Nasscom Foundations Business for Social Responsibility Awards 2007 Best Corporate Social Responsibility Practice Award Outlook Money NDTV Profit Best Bank Award in the Private sector category. The Asian Banker Excellence in Retail Financial Services Awards Best Retail Bank in India Asian Banker HDFC BANK Managing Director Aditya Puri wins the Leadership Achievement Award for India HDFC BANK PRODUCT AND CUSTOMER SEGMENTS PERSONAL BANKING Loan Product Deposit Product Investment Insurance Auto Loan Loan Against Security Loan Against Property Personal loan 2-wheeler loan Commercial vehicles finance Home loans Retail business banking Tractor loan Working Capital Finance Construction Equipment Finance Health Care Finance Education Loan Gold Loan Saving A/c Current A/c Fixed deposit Demat A/c Trading A/c Safe deposit locker Mutual Fund Bonds Knowledge Centre Insurance General and Health Insurance Equity and Derivatives Mudra Gold Bar Cards Payment Services Access To Bank Credit Card Debit Card Prepaid Card Forex Services Product Services Trade Services Forex service Branch Locater RBI Guidelines Net Safe Merchant Prepaid Refill Bill pay Visa Bill pay InstaPay DirectPay VisaMoney Transfer e–Monies Electronic Funds Transfer Online Payment of Direct Tax NetBanking OneView InstaAlert MobileBanking ATM Phone Banking Email Statements Branch Network WHOLESALE BANKING Corporate Small and Medium Enterprises Financial Institutions and Trusts Funded Services Non Funded Services Value Added Services Internet Banking Funded Services Non Funded Services Specialized Services Value added services Internet Banking BANKS Clearing Sub-Membership RTGS – sub membership Fund Transfer ATM Tie-ups Corporate Salary a/c Tax Collection Financial Institutions Mutual Funds Stock Brokers Insurance Companies Commodities Business Trusts NRI SERVICES Accounts Deposits Remittances Rupee Saving a/c Rupee Current a/c Rupee Fixed Deposits Foreign Currency Deposits Accounts for Returning Indians North America UK Europe South East Asia Middle East Africa Others Quick remit IndiaLink Cheque LockBox Telegraphic/ Wire Transfer Funds Transfer Cheques/DDs/TCs Investment Insurances Loans Mutual Funds Insurance Private Banking Portfolio Investment Scheme Home Loans Loans Against Securities Loans Against Deposits Gold Credit Card Payment Services Access To Bank NetSafe BillPay InstaPay DirectPay Visa Money Online Donation NetBanking OneView InstaAlert ATM PhoneBanking Email Statements Branch Network BUSINESS STRETEGY HDFC BANK mission is to be A World Class Indian Bank, benchmarking themselves against international standards and best practices in terms of product offerings, technology, service levels,risk management and audit compliance. The objective is to build sound customer franchises across distinct businesses so as to be a preferred provider of banking services for target retail and wholesale customer segments, and to achieve a healthy growth in profitability, consistent with the Banks risk appetite. Bank is committed to do this while ensuring the highest levels of ethical standards, professional integrity, corporate governance and regulatory compliance. Continue to develop new product and technology is the main business strategy of the bank. Maintain good relation with the customers is the main and prime objective of the bank. HDFC BANK business strategy emphasizes the following : Increase market share in India’s expanding banking and financial services industry by following a disciplined growth strategy focusing on quality and not on quantity and delivering high quality customer service. Leverage our technology platform and open scaleable systems to deliver more products to more customers and to control operating costs. Maintain current high standards for asset quality through disciplined credit risk management. Develop innovative products and services that attract thetargeted customers and address inefficiencies in the Indian financial sector. Continue to develop products and services that reduce bank’s cost of funds. Focus on high earnings growth with low volatility. TECHNOLOGY USED IN HDFC BANK In the era of globalization each and every sector faced the stiff competition from their rivals. And world also converted into the flat from the globe. After the policy of liberalization and RBI initiatives to take the step for the private sector banks, more and more changes are taking the part into it. And there are create competition between the private sector banks and public sector bank. Private sector banks are today used the latest technology for thedifferent transaction of day to day banking life. As we know that Information Technology plays the vital role in the each and every industries and gives the optimum return from the limited resources. Banks are service industries and today IT gives the innovative Technology application to Banking industries. HDFC BANK is the leader in the industries and today IT and HDFC BANK together combined they reached the sky. New technology changed the mind of the customers and changed the queue concept from the history banking transaction. Today there are different channels are available for the banking transactions. We can see that the how technology gives the best results in the below diagram. There are drastically changes seen in the use of Internet banking, in a year 2001 (2%) and in the year 2009 ( 25%). These type of technology gives the freedom to retail customers. Centralized Processing Units Derived Economies of Scale Electronic Straight Through Processing Reduced Transaction Cost Data Warehousing , CRM Improve cost efficiency, Cross sell Innovative Technology Application Provide new or superior products HDFC BANK is the very consistent player in the New private sector banks. New private sector banks to withstand the competition from public sector banks came up with innovative products and superior service. RESEARCH METHODOLOGY Data Collection Techniques: This project consists of two parts. The first part is a study of the banking industry, HDFC Bank using secondary data sources. This secondary information has been sourced from the internet and from business related magazines and newspapers. The second part of the study has been done using an exploratory research process and a structured questionnaire was developed for this purpose. For the collection of primary data this was the only method used. The reason I used this method is because a need was felt for the free influx of information about the products. Also this method allowed the use of skills gained in class. Sample Design: The population considered for the purpose of the survey was people residing in Delhi and the National Capital Region (NCR). Sampling Technique Used: Since the information required was not of a very technical nature and also looking at the scope of the project and the extent of the target segment, the sampling technique employed was Convenience Sampling. I administered the questionnaires. Sample Size: I have restricted the sample size to 50 respondents. This was done keeping in mind the time constraints and the fact that I felt that this number would be enough to serve the information needs required to show the trends. Customer Satisfaction: Customer satisfaction is equivalent to making sure that product and service performance meets customer expectations. It is the perception of the customer that the outcome of a business transaction is equal to or greater than his/her expectation. Customer satisfaction occurs when the acquisition of products and /or services provides a minimum negative departure from expectations when compared with other acquisitions and when the marginal utility of a transaction is equal to or greater than preceding acquisitions. Customer satisfaction occurs when the perception of the reward from the purchase of goods or services by the customer meets or exceeds his/her perceived sacrifice. The perception is a consequence of matching past purchase and consumption experience with the current purchase. Customer Service and Satisfaction: When we talk about customer service and/or satisfaction, we talk about creativity. Creativity allows us to handle or diffuse problems at hand or later on rather in the process of conducting the everyday business. We talk about how, or what, does the organization have to do to gain not only the sale but also the loyalty of the customer. We want to know the payoff of the transaction both in the short and long term. We want to know what our customers Want? We want to know if our customers are satisfied. Satisfaction, Of course, means that what we delivered to a customer met the customer’s Approval.