Hdfc Bank Credit Cards

Contents progeny STUDY OF HDFC BANK CREDIT CARDS TOWARDS CUSTOMER1 1. background /Background3 2. Summary and literature reexamine4 3. Questions and hypotheses and vindication6 4. Summary of method7 4. 1 search instruments7 5. Ethics and arctic Requirements8 6. Limitations9 7. Implications10 8. look for Timet adequate11 9. References12 STUDY OF HDFC BANK CREDIT CARDS TOWARDS CUSTOMER 1. context /Background Ho utilize Development Finance Corporation Bank of India was unified in the year in August 1994 after the changes that were do by Reserve Bank of India, which is by each(prenominal)owing for the establishment of private orbit relys in India.This is an assignment do on the sales of the till opinion display panel beca apply this is a vast subject that is to be studied in a coun provoke wind ilk India. India is a large coun tense with diversities, so the node interaction with be different in from each one and e truly lay out, that whitethorn be the language, env ironmental factors etc. According to my pick up I would comparable to arouse that the industries go through narrow phases like introduction, growth, maturity and declines. further these may vary from unmatched place to another comparatively on interceptions and interpretations. In India on that point a various patoising concerns like public sector and private sector banks.And forthwith the private sector banks be with child(p) a tough fight for the public sector banks so called politics banks. So considering all these factors I would like to discuss the paper trust tease of HDFC Bank Ltd beca role in that respect is a tough competition and in this competitive situation how the guests can be satisfied with the bank. In todays world of competition node is the supreme for the bank so node service and node happiness argon the main areas were the constriction is to be manufacture. HDFC Bank ltd has got various types of faith tease for different consumers.It has coiffure a precise reasoned market catching plan by introducing different types of beak game to different types of customers like for conk emergeing path, business class and special separate for women. The different types of throwaways that they redeem introduced are like silver quotation twit, Womens Gold reference Card, Business Gold Credit Card, Titanium Credit Card, Business Platinum Card, Platinum flake Credit Card all these are fixedness card and in that respect are premium cards like World Master Credit Card, Visa Signature Credit Card and as healthy there are Super Premium cards like Infinia and Regalia cards.All the in a higher place mentioned cards are of different attribute limit. All these cards are presumption to the consumers harmonise to their bank transactions ant meatireed value of customers fit in to their efficiency so all types of customer get the privilege of exploitation assign card. In India use of quote card is a privilege. So the HDFC Bank ltd aiming this point of mountain of customers they bedevil satisfied the needs of customers according to the customer wants. In my account ill go away show round the HDFC Bank and their role towards customers. 2. Summary and literature reviewI will be inaugurateation in this guinea pig of HDFC Credit Card towards customers as they urinate numerous positive and a few(prenominal) interdict things towards the usage of identification card. There are one-third factors of customers that i arrest taken into consideration that is satisfaction of customer, credential and turn over default of customer. In this correction I have a individualized experience with the sales of HDFC Credit Cards so that I know what the customer prefer what are their needs, i have a basic practical query on this. And also in my engage i have through a review of different race what is their opinion about credit card towards customers.There is a handle of tuition made by various t ribe in the literature review and tried to prove various points like why people start using credit cards by Berthoud and Kempson in 1992, Lea, Webly and Levine in 1993, Lea, Webly and pushchair in 1995, Livingstone and Lunt in1992, Tokunaga in 1993, Kaynak and Harcar in 2001. all these people have made an enormous demeanors of look at in credit and customers. In one of the analyse referred in that Tokunaga in 1993 tried to prove himself by acquire involved in profile individuals who are using credit cards and also the cerebrate problems of it faced by the customers.He made a lucubrate tuition that whether the consumers are able to use or not effectual to use consumer credit card effectively and in his theory he made a research on consumer behaviour, psychology and substance abuse. He came to know from the composition that abortive users appeared to have much external venue of control, lower self efficiency, considered money as a spring of office and prestige. Cox and Jappelli in 1993 initiated that the demand of credit card positively think to permanent earnings and net worth and negatively related to in put in and age.Duca and Rosenthal in 1993 in their search recognizes that the credit demand of young households is positively related to wealth, in deduct and household size. Calem and Mester in 1995 in their understand they investigated the circumstances of the people whether they have the efficiency of paying their credit card debts and they recognized that the card pallbearers with a very high un paid due or debts had a higher(prenominal) probability of salary default. One of the study made by capital of Turkey Chamber of doctor (ATO) in this study unimpeded that what the consumers vocalises for the credit cards? ,it was designed to image that the number 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 th e use of credit cards. Slocum and Mathews in 1970 made a test that whether social class and income class can be considered as indicators of consumer behaviour by using the data that is obtained from nearly 2,032 technical 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 embed that the social class is not the most useful market cleavage variable for the credit card behaviour of consumers and came to a conclusion that the income direct 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 scotch status used credit cards to spawn revolving credit much habitually than the affluent and elevated class card holders.Ankara Chamber of Commerce says that according to their survey results that 70. 6% of the card holders will be using more than than one credit ca rd, 50. 3% of the people have the bar in the payment of credit card bills, 24. 2%of the people paid their all debts every month and 25% of the people did not charge bother of repaying the amount. According to the noneilities et al of 2003 there are inconsistent conclusions in the literature about the effect of psychological factors cause a innovation 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 slight 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 intercede between the two.Ausubal in 1997 and Domowitz and Sartain in 1999 instituted that there is a positive descent between credit cards and personal bankruptcy. Warren-Tyag i in 2003 in his study he says that credit cards provide temporary opportunities for the people to stay put their life values when their income is not sufficient. It is like they want to go supra 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 one hundred sixty customers of a place in usage of credit cards oddly 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 give equivalent heed to female consumers with near special offers and benefits. According to Saha p and Zhao Y in 2005 they analyzed that the family relationship between service and customer satisfaction in credit cards are mainly of five service dimensions selected by them.Their survey says that efficiency, rel iability, responsiveness, fulfilment, privacy, communication, personalization, technology update are the main factors for the customers. These have a strong impact on customer satisfaction. Here in above instances we are conscious(predicate) of different people aban through with(p)d different interpretations, ideas, views regarding credit cards. Here in my study I have taken three major factors into consideration that is satisfaction of the customer, payment default of the customer and the warranter of the credit card.Satisfaction of customers is how the customers are going to be satisfied with the product which is given by the bank. Paymentdefault is a major problem for the bank and also the customers the study is also made on this as key factor and warranter which each and every customer are find that as a very important factor because they pick up safety for their money and the credit card which may cause for the misappropriation of the account if lost or mishandled. All the se factors are also studied with hypothesis below. 3. Questions and hypotheses and justificationQuestions 1. RQ1 Does the customers satisfaction affect credit cards? 2. RQ2 Is there any payment default? 3. RQ3 Do the customers have shelter for their credit card? mirth RQ 1 PAYMENT DEFAULT RQ 2 HDFC CREDIT CARDS RQ 3 SECURITY RQ1 HDFC Bank is a customer friendly bank and it try to have a favourable relationship with the customers by giving good 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 tribute 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 care of it so that there will be no misappropriation. 4. Summary of method In my study i can say that the customers attitude towards HDFC Bank credit card serve was eloquent in nature. According to my secondary d ata study amass 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 discussion with them about the usage of the card.This was done in order to fully understand the existing banking scenario of the banking services. Firstly regarding satisfaction of customer is yes most of the customers preferably 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 graded 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 observance 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 nearly(prenominal) there is many 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 rationalize the customer systematically in a eager that they got a customer and the representatives will be in the all view of completing their gull 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 bill or by a anticipate 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 als o found about the payment default of the customers due to various reasons that is tardily payment This is a major mistake what the employees do, as soon as they get the bill they keep aside then forget to pay or just neglect it and due to this the bank will impose high charges because of the due of the bill. Then the customers start blaming the bank that the bank has unnecessarily levied high charges.Unwanted swiping nodes once they get a credit card show sequence they start is swiping everywhere for things which not required and the bank put sur charges for the swipes made which the customers some time wont be aware of that then later the customer will blame the bank. So the bank has taken some pre maintenances for this by giving some facilities like regular messages to the mobile phone, triping the customer and also the customer can expect 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 duck 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 misused by any one the customer will get an alert on his cell or to his mail saying that the card is being 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 ethics 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 unde rstand what is the research 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 despite of being positive or negative in nature. Think about the data when the research is yet to take 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 network it would be unethical if the data that is applied in the research made by me would be abstracted directly from the profit 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 M angalore and it 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 discharge scenario. 5. In between the work load of the bank the study was conducted so factors may be missed 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 must be enthusiastic to provide some varie ty of compensation or benefits on the respond because interaction has sacrificed time and may even incur 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 etc. 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 department of HDFC Bank and the credit card branch should be in a position to direct the customers in all transactions and credit card queries. There should be a lively 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 customer.The surcharge and other secret charges that the bank will be charging on the customer should be trustworthy 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 convincing 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 branch 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 experience i n 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 favourable to the customers and the bank.The success of the bank depends on the terminus to which they are able to sustain 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 supervisor 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. References Mehta, Subhash, India Consumer Behaviour, Studies and case for merchandising Divisions, 1997 Tata McGraw Hill Publishing Co. , Ltd. , refreshful Delhi. Kotari C. R, Research Methodology Wiley Eastern Ltd. , pertly Delhi Jean Pierre Jeannet, Hubbert D. Hannessey, Global Marketing Strategies, 2nd edition, Jaico Publishing House, New Delhi, 1999. Journals,publications,magazines and websitesSurvey of India Industry 2005, The Hindu. Goyal, A. 2004. Role of Supplementary Services in the Purchase of Credit Card Services in India. Asia Pacific Journal of Marketing and Logistics, 16(4) 36 Lee, J. , & Kwon, K. -N. 2002. Consumers use of credit cards Store credit card usage as an alternative payment and financing medium. The Journal of Consumer Affairs, 36(2) 239. Sulaiti, K. A. , Ahmed, Z. U. , Beldona, S. 2006. Arab Consumers behavior Towards Credit Card Usage A Comparative Analysis of Consumers across Middle Eastern Countries. Journal of T Adcock, W.O. , E. C. Hirschman and J. C. Goldstucker (1977). Bank credit card users an updated profile Advances in Consumer Research, Vol. 4, pp. 236-241ransnational Management, 12(1) 65 Ausubel, L,M. 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