Professional Documents
Culture Documents
Under the guidance of Mr. P.R. Dev (Senior Manager, Mktg. cell, CO, Ranchi)
Submitted by:
Arijeet Mondal (2011MB0034)
Shri Ammembal Subba Rao Pai Founder Canara Bank "A good bank is not only the financial heart of the community, but also one with an obligation of helping in every possible manner to improve the economic conditions of the common people" - A. Subba Rao Pai.
Founding Principles
To remove Superstition and ignorance. To spread education among all to sub-serve the first principle. To inculcate the habit of thrift and savings. To transform the financial institution not only as the financial heart of the community but the social heart as well. To assist the needy. To work with sense of service and dedication. To develop a concern for fellow human being and sensitivity to the surroundings with a view to make changes/remove hardships and sufferings.
Milestone
1st July 1906 - Canara Hindu Permanent Fund Ltd. formally registered with a capital of 2000 shares of Rs.50/- each, with 4 employees. 1910 - Canara Hindu Permanent Fund renamed as Canara Bank Limited. 1976 - 1000th branch inaugurated 1983 - Overseas branch at London inaugurated Cancard (the Banks credit card) Launched. 1984 - Merger with the Laksmi Commercial Bank Limited 1987- Canbank Mutual Fund & Canfin Homes launched 1989 - Canbank Venture Capital Fund started. 1995-96-Became the first Bank to be conferred with ISO 9002 certification for one of its branches in Bangalore. 2003-04-Launched Internet & Mobile Banking Services 2004-05-100% Branch computerization 2005-06-Entered 100th Year in Banking Service. It Launched Core Banking Solution in selected branches. Number One Position in Aggregate Business among Nationalized Banks
Contd..
2006-07- Retained Number One Position in Aggregate Business among Nationalized Banks. 2007-08- Launching of New Brand Identity and Launching of a Call Centre. 2008-09 The Bank crossed the coveted Rs. 3 lakh crore in aggregate business. The Banks 3rd foreign branch at Shanghai was commissioned 2009-10 The Banks aggregate business crossed Rs.4 lakh crore mark. Net profit of the Bank crossed Rs.3000 crore. The Banks branch network crossed the 3000 mark. 2010-11 The Banks aggregate business crossed Rs.5 lakh crore mark. Net profit of the Bank crossed Rs. 4000 crore 2012 Global Business Crosses 5.59 lakh crore Net Profit for FY12 at 3283 crore
Contd..
At present Canara Bank has 3616 branches. 3151 ATM covering 846 centers. With 100% CBS, the Bank offers technology banking, such as, Internet Banking, Mobile Banking and Funds Transfer through NEFT and RTGS across all branches. Products & Services:
SAVINGS AND DEPOSITS LOANS TECHNOLOGY PRODUCTS MUTUAL FUNDS INSURANCE CONSULTANCY SERVICES ONLINE TRADING
Life Insurance
Canara HSBC Oriental Bank of Commerce Life Secure Smart Plan Canara HSBC Oriental Bank of Commerce Life Insurance Dream Smart Plan Canara HSBC Oriental Bank of Commerce Life Insurance Grow Smart Plan Canara HSBC Oriental Bank of Commerce Life Pure Term Plan Canara HSBC Oriental Bank of Commerce Life Insurance Future Smart Plan Canara HSBC Oriental Bank of Commerce Life Insurance Insure Smart Plan Canara HSBC Oriental Bank of Commerce Life Insurance Smart Sanchay Plan
ORGANISATION STRUCTURE
HEAD OFFICE (BANGLORE) HEADED BY CHAIRMAN CUM MD
CIRCLE OFFICE (34) HEADED BY GENERAL MANAGER REGIONAL OFFICE (26) HEADED BY DEPUTY GENERAL MANAGER BRANCH (3616) HEADED BY CHIEF MANAGER
Technology Products
1. Internet Banking:- Internet banking refers to systems that enable bank customers to access accounts and general information on bank products and services through a personal computer (PC) or other intelligent device. Mobile Banking:- Mobile banking is a term used for performing balance checks, account transactions, payments etc. via a mobile device such as a mobile phone. Mobile banking today is most often performed via SMS or the Mobile Internet but can also use special programs, called clients, downloaded to the mobile device.
2.
3.
ATM cum Debit Card:- A debit card (also known as a bank card or check card) is a plastic card that provides an alternative payment method to cash when making purchases.
Research methodology
Research Design: To prepare the background of our study, we have used exploratory research method at the initial phase. For this purpose secondary data is used extensively from different sources. Previous research paper, related articles have been studied. After this, we have gone through a descriptive research with sample population. Interview has been conducted with the help of open ended questionnaire.
Source of Data
Primary data source: Interview and Questionnaire. Secondary data source: Companys web site, Financial articles, Previous research papers. Sampling: Since our target population is homogenous in nature, we have used convenient sampling due to money and time constraint. Sample is selected irrespective of family background, stream of study and gender. Target population: All Saving Bank Account holders of Canara Bank (Saraidhela Branch,Bank More Branch)above the age of 18 years. Sample size: 300 Scale used: Likert Scale is used to measure the attitude of target population.
53%
23%
Gender-wise distribution
Request a cheque book 17% Female Payment reminders Status of cheques View last three transactions Male Checking account balance 83% 39.97 0 5 10 15 20 25 30 35 40 19.11 20.92 21.06 28.15
Male Female
83%
Conclusion
Some of the banks are not able to calculate accurately the cost of their technological services. Most of the banks are operating in loss or at near break-even as far as debit card is concerned. As we all know that banking sector in India is very competitive in nature, the only option to a bank to attract customers is to differentiate their services. In Canara Bank it has been seen that the penetration of iBanking is still very low (about 32%). local market acceptance of e-commerce and the penetration level of internet among customers are two major barriers to these electronic modes of payment. It has also been seen that most of the internet banking users fall in the age group of 26 to 35 years.
Contd
Most of the i-Banking users are businessman. Most of the customers prefer ATM as a mode of banking. Compared to Canara Banks i-Banking, its mobile banking is more successful. The security aspect is one of the strongest barriers for the mass acceptance of mobile banking. In case of Canara Banks Debit card, major parts of the users use it only 5 to 10 times a month. The main causes of dissatisfaction of 57% debit card users are less number of ATM and Lack of ATM maintenance.
RECOMMENDATIONS
1. In order to cut the operation cost of a branch and attract customer in this highly competitive industry, Canara Bank must concentrate on the popularization of its technological services. 2. As mass advertisement is not a wise idea for this nonprofitable product, awareness of Canara Banks technoproduct among customers should be through bank staffs. 3. To attract more customers in i-Banking, Canara Bank must introduce some integrated services (Mobile recharge, Ticket booking etc.) 4. In case of Canara Banks mobile banking, special focus should be made on the security issues of SMS banking. Developing Mobile applications supported on JAVA enabled phone increases the security of mobile banking as well as it provides the facility of using more services. 5. Pull based mobile banking services are rarely used. It should concentrate on free-of-cost mobile services more. 6. Canara Bank should establish more ATM in the city.
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