Hdfc Bank Credit Cards

Contents TOPIC STUDY OF HDFC hope honor up to(p) mention CARDS TOWARDS CUSTOMER1 1. Context /Background3 2. summary and literature re watch4 3. Questions and hypotheses and justification6 4. sum-up of method7 4. 1Research instruments7 5. Ethics and Safety Requirements8 6. Limitations9 7. Implications10 8. Research Timetable11 9. References12 STUDY OF HDFC BANK CREDIT CARDS TOWARDS CUSTOMER 1. Context /Background Ho employ victimization Finance Corporation cant of India was incorporated in the year in August 1994 after the changes that were do by Reserve pious platitude of India, which is by on the wholeowing for the establishment of private sector money boxs in India.This is an assignment make on the sales of the shore acknowledgment tease beca do this is a vast master that is to be analyze in a country exchangeable India. India is a large country with diversities, so the guest interaction with be disparate in each and every place, that may be the langu suppurate, environmental factor ins and so forth harmonize to my translate I would equal to suggest that the industries go through with(predicate) narrow phases like introduction, growth, maturity and declines. But these may vary from whizz place to a nonher comparatively on interceptions and interpretations. In India in that respect a dissimilar jargons like public sector and private sector banks.And instantly the private sector banks are giving a tough fight down for the public sector banks so c all in alled government banks. So considering all these factors I would like to discuss the topic recognition tease of HDFC marge Ltd be clear in that respect is a tough argument and in this competitive situation how the nodes croupe be well-to-do with the bank. In todays world of competition guest is the supreme for the bank so node service and customer pleasure are the main areas were the concentration is to be do. HDFC Bank ltd has got unlike types of attribute caden ce of fares for several(predicate) consumers.It has made a very secure market catching plan by introducing various types of eyeshades to contrary types of customers like for operationing class, business class and special(a) menus for women. The diametric types of tantalizes that they exact introduced are like Gold confidence Card, Womens Gold de nonation Card, Business Gold reference Card, Titanium reference point rating Card, Business Platinum Card, Platinum Chip Credit Card all these are regular nib and on that point are premium batting order like World Master Credit Card, Visa Signature Credit Card and overly thither are Super Premium tease like Infinia and Regalia panels.All the above mentioned brains are of unalike creed limit. All these planks are ca-can to the consumers according to their bank transactions ant measured value of customers according to their efficiency so all types of customer tolerate the privilege of using commendation card. In India uptake of assurance card is a privilege. So the HDFC Bank ltd aiming this point of view of customers they stir satisfied the needs of customers according to the customer wants. In my moot ill depart show just near the HDFC Bank and their role towards customers. 2. compendious and literature reviewI depart be showing in this engage of HDFC Credit Card towards customers as they stick m each positive and few electronegative things towards the usage of reference card. There are three factors of customers that i defy taken into precondition that is triumph of customer, security and defrayal default of customer. In this consume I waste a personal experience with the sales of HDFC Credit Cards so that I know what the customer choose what are their needs, i have a basic practical interrogation on this. And likewise in my debate i have do a review of different sight what is their opinion about confidence card towards customers.There is a lot of postulate made b y various people in the literature review and tried to prove various points like why people start using credit tease by Berthoud and Kempson in 1992, Lea, Webly and Levine in 1993, Lea, Webly and Walker in 1995, Livingstone and Lunt in1992, Tokunaga in 1993, Kaynak and Harcar in 2001. all these people have made an enormous dashs of study in credit and customers. In one of the study referred in that Tokunaga in 1993 tried to prove himself by getting involved in visibleness individuals who are using credit cards and also the related problems of it approach by the customers.He made a detail study that whether the consumers are able to use or not efficient to use consumer credit card lay outively and in his theory he made a look for on consumer behaviour, psychology and substance abuse. He came to know from the study that stillborn users appeared to have more external locus of control, lower self efficiency, considered gold as a spring of power and prestige. Cox and Jappelli in 1993 initiated that the occupy of credit card positively related to permanent earnings and final worth and negatively related to income and age.Duca and Rosenthal in 1993 in their search recognizes that the credit demand of young households is positively related to wealth, income and household size. Calem and Mester in 1995 in their study they investigated the circumstances of the people whether they have the efficiency of paying their credit card debts and they recognized that the card holders with a very high undischarged imputable or debts had a higher probability of allowance default. angiotensin converting enzyme of the study made by Ankara Chamber of Commerce (ATO) in this study unimpeded that what the consumers enounces for the credit cards? ,it was designed to find that the piece credit card a holder having, the interest rates, amount of the card debts of the consumers, expenses that have been made by the credit card and the problems that have been caused by the use of credit cards. Slocum and Mathews in 1970 made a test that whether accessible class and income class can be considered as indicators of consumer behaviour by using the data that is obtained from n proterozoic 2,032 commercial bank credit card holders in USA.In their study they observed that people of various segments gave their views as different credit card using patterns, and they institute that the social class is not the most useful market segmentation variable for the credit card behaviour of consumers and came to a evidence that the income level is better indicator of consumer card behaviour than social class. Again in 1969 Mathews and Slocum in their study found that the card holders who have low income and socio economic status used credit cards to spawn revolving credit more habitually than the affluent and empyrean class card holders.Ankara Chamber of Commerce says that according to their survey results that 70. 6% of the card holders provide be using more than on e credit card, 50. 3% of the people have the difficulty in the payment of credit card postings, 24. 2%of the people paid their all debts every month and 25% of the people did not even bother of repaying the amount. According to the Novilities et al of 2003 there are inconsistent conclusions in the literature about the effect of mental factors cause a creation of debt.Some of the studies come to a conclusion that people with outsized amount of personal debt are not demographically different from others. For instance, Livingston and Lunt in 1992 instituted that the debt is common among individuals with high income and less children. In 1993 Lea et al. studied that the serious debtors are varied from the non-debtors in terms of sociological, economical and psychological variables and gentle debtors are generally intermediate among the two.Ausubal in 1997 and Domowitz and Sartain in 1999 instituted that there is a positive race between credit cards and personal bankruptcy. Warren-T yagi in 2003 in his study he says that credit cards provide temporary opportunities for the people to continue their life values when their income is not sufficient. It is like they want to go above their limits to get the needs that are not necessary. In one of the study made by Ahuja G and Singh in 2006, according to them the perceptions of nearly 160 customers of a place in usage of credit cards especially their growth of India.They say that 2/3rd of males and 1/3rd females use credit cards. People of age 40-50 years are the people who make more usage. Majority of the card holders are business man or serviceman. The whole study says that the bank should try to piddle equivalent attention to female consumers with roughly special offers and benefits. According to Saha p and Zhao Y in 2005 they analyzed that the relationship between service and customer satisfaction in credit cards are mainly of five service dimensions selected by them.Their survey says that efficiency, reliabilit y, responsiveness, fulfilment, privacy, communication, personalization, technology modify are the main factors for the customers. These have a strong impact on customer satisfaction. Here in above instances we are aware of different people assumption different interpretations, ideas, views regarding credit cards. Here in my study I have taken three study factors into consideration that is satisfaction of the customer, payment default of the customer and the security of the credit card.Satisfaction of customers is how the customers are deviation to be satisfied with the product which is guiden by the bank. Paymentdefault is a major(ip) problem for the bank and also the customers the study is also made on this as key factor and security which each and every customer are find that as a very important factor because they require sentry duty for their money and the credit card which may cause for the misapplication of the account if lost or mishandled. All these factors are also s tudied with hypothesis below. 3. Questions and hypotheses and justificationQuestions 1. RQ1 Does the customers satisfaction affect credit cards? 2. RQ2 Is there either payment default? 3. RQ3 Do the customers have security for their credit card? SATISFACTION RQ 1 PAYMENT fail RQ 2 HDFC CREDIT CARDS RQ 3 SECURITY RQ1 HDFC Bank is a customer friendly bank and it try to have a approximate relationship with the customers by giving sincere service RQ2 Bank sees that there will be no more payment default and so that it will help the customer and the customer will have satisfaction with the service of the Bank.RQ3Bank gives security to each and every customer of the bank it is like the credit customer credit card is the credit card of the bank so that it will be taken mete out of it so that there will be no misappropriation. 4. Summary of method In my study i can say that the customers perspective towards HDFC Bank credit card services was eloquent in nature. According to my secondar y data study put in by me I would like to say that regarding the satisfaction, customer default and security collected the data feedback from the people to whom I have issued credit cards and use to have a word with them about the usage of the card.This was do in order to richly understand the existing banking scenario of the banking services. Firstly regarding satisfaction of customer is yes most of the customers quite the working class like the customers who work in companies and the companies will have tie up with the bank, in that the companies are ordaind and according to the grade of the company, the type of credit which the customer require will be given. So the customers of this kind are preferably more in the bank avoiding to my ceremonial so these customers have good satisfaction.But there are instances where customers are not having a great satisfaction with the bank credit card. This is because of some there is some mishandling with the customers because they dont use the credit card as per the guidelines, rules and regulations given by the bank. Even bank has got some drawbacks because the credit card is been sold out by the credit card sales representatives, so these so representatives dont explain the customer systematically in a eager that they got a customer and the representatives will be in the only view of completing their target with the given data.I have made few discussions with customers to whom i have issued to get the feedback of the service given by the Bank and by myself. 4. 1Research instruments Discussion Direct discussion with the customer when he visited the bank for the payment of the credit card billhook or by a telephone call after the credit card is issued. Geographical coverage This study is taken on the customers of HDFC Bank customers. And the customers were from various places who had come for the sake of job.Place where I made my study is in India, Karnataka state, Mangalore. In my study i also found about the p ayment default of the customers due to various reasons that is Late payment This is a major mistake what the employees do, as soon as they get the bill they trammel aside then forget to pay or just miss it and due to this the bank will levy high charges because of the due of the bill. whence the customers start blaming the bank that the bank has unnecessarily levied high charges.Unwanted swiping Customers once they get a credit card first they start is swiping everywhere for things which not required and the bank put sur charges for the swipes made which the customers some m wont be aware of that then later the customer will blame the bank. So the bank has taken some precautions for this by giving some facilities like regular messages to the mobile phone, mailing the customer and also the customer can enquire through customer care centre. Security Customers in India are very careful when their using such kind of facility.They will be having lot of enquiries regarding the usage of credit card. They also prefer the card to be secured sop that if lost also any one should not be able to misuse it. So the banks give a pin or a security code to the customer and also insurance facility with the credit card. And if the card is lost and misuse by any one the customer will get an zippy on his cell or to his mail saying that the card is universe swiped. So that he will come to know that if he is using or someone else if using. 5. Ethics and Safety RequirementsWhile conducting my research i have taken into consideration that some kind of ethical motive and safety requirements are followed that are necessary. All the data which I have collected and presented is authentic one. All the research methods which have done is where other researchers have done in their study and I am going to use the method which the researchs have used in their early research study. Some of the ethics to be followed are Understand would like to make the reader understand what is the resea rch is made on. I have used the language in the way that is simple so that any reader can understand and find it easy.Disclosure All the data which has been given in this research will have full authenticity. All the data and all the information given will be disclosed condescension of being positive or negative in nature. Think about the data when the research is yet to begin would be unethical if the data used is not proper in nature. To avoid this data will be re analysed before the study begins so that there will be a proper, supportive good data disclosed. Limits of internet it would be unethical if the data that is utilise in the research made by me would be abstracted directly from the internet and disclosed.All the literature and the data will be disclosed taken from internet and checking its authentication and researcher who has done before as the primary research. 6. Limitations 1. The study which i have made on is restricted to the customers of the place Mangalore and i t was only about the bank which I was working. 2. There was a lack of co-operation from the customers side to give the required information to know or get back the feedback of the customer. 3. The study was restricted to only Mangalore. Hence caution need to be exercised in generalizing the results of the study. 4.The availability of time to carry out an overall exhaustive study was not enough to gather the complete scenario. 5. In between the work load of the bank the study was conducted so factors may be befuddled out. 6. There is still study to made on this but due to the time shortage only few things are taken into consideration in my study 7. In some instances the customers are satisfied with the HDFC Bank and the services but in some cases customers are not satisfied with some factors. 8. Only around 50 % of the customers are satisfied with the interest rate on credit card purchase.Most of them believe that the researcher essential be enthusiastic to provide some variety of compensation or benefits on the respond because interaction has sacrificed time and may even pay off transportation cost to participate in the collection of data. Such responses should be restricted only to the non-financial such as the sharing of the data collection, results and so forth 7. Implications The outcome of this research will let us know the customers if the bank better and the customer will come to know about some of the basic things of the bank credit cards.From this study I would prefer to say that the HDFC Bank should concentrate on the study of the customer card discussion slit of HDFC Bank and the credit card section should be in a position to direct the customers in all transactions and credit card queries. There should be a quick processing of the applications when an applicant is applied for credit card. There should be security for the credit cards that which has got a advanced technology so there no chance of misappropriation without the knowledge of the cu stomer.The surcharge and other hidden charges that the bank will be charging on the customer should be informed properly to the customers. The message of the bill should be reached to the customers in time and the bank should keep a good friendly relationship with the customer and suggest the customer to pay the bill in time and also try to convince the customer if there is any pending of the bill to make the payment but win over the customer in a very polite systematic way that the customer is satisfied with bank and do the payment which will be helpful for the customer as well as the bank.The sales representatives should give a clear picture or idea to their customers about the credit card services and all the queries. The research is based on the study made in a place called Mangalore of only one disunite of the bank. Thought there are certain limitations feel that justice has been made to the subject and an attempt is made to present an overall picture about the banking experi ence in HDFC Bank. By conducting this study i would feel that the Bank may go for further improvements in the credit card section in their upcoming days so that it will be well-disposed to the customers and the bank.The success of the bank depends on the extent to which they are able to save the competitive advantages. The bank should also do such kind of studies so that it will come to know the customers wants and needs. 8. Research Timetable TIME FRAME milestone 20 JUNE 2012 Selection of assignment topic 22 JUNE 2012 Enquire with the executive program can the study be done or not 25 JUNE 2012 Start with the topic 26 JUNE 2012 to 27 JUNE Context 28 JUNE 2012 Summary of literature review 9 JUNE 2012 Questions and hypotheses and justification 30 JUNE 2012 Summary of the method, ethics and safety requirements, limitations 1 JULY 2012 Implications 9. 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