Manipulation in 1984 Essay Example

Manipulation in 1984 Essay Example Manipulation in 1984 Essay Manipulation in 1984 Essay Essay Topic: 1984 Language is a very powerful tool and can easily be misused to benefit the person who uses it; harming the people who are subject to its effects. How one utilizes language to spread certain imaginings or viewpoints can greatly influence the way people think. One can use language to manipulate the minds of others and bring them under some form of suppression. In the novel 1984, author George Orwell uses Oceania’s Ministry of Thought’s Newspeak to demonstrate a simple manipulation. George Orwell uses a variation of different verbal methods to stimulate the opinion and principles, making the readers to determine and generate their own feelings about the appearance that occur in the novel 1984. George Orwell’s Newspeak is a massively strong and extreme party-political language which facilitates fraud and manipulation, and its purpose is to restrict the new people’s understanding of the physical world and challenge their ability for free thought. Newspeaks limits the amount of words used, removing and blurring words like â€Å"hot† because it is the contradictory of cold, which limits the mindfulness and information of those who use it, making them more likely to comply and more likely to do what they are told. George Orwells main intention for creating Newspeak was to display how the frequent abuse of language by the government and by media could be used to betray and manipulate people, which could eventually influence and lead to a society, culture and identity in which the people automatically follow their government and carelessly accept all propaganda as reality. In 1984, language is a dominant importance to behavior control. The major intention is that if control of language were centralized in a place, then the likelihood of rebellion or disobedience would be eliminated. Dont you see that the whole aim of Newspeak is to narrow the range of thought? In the end we shall make thoughtcrime literally impossible, because there w

Free sample - The Power Corruption Cycle. translation missing

The Power Corruption Cycle. The Power Corruption CycleCorruption is a social evil, which not only hinders the growth of organizations but also strains the relationship between management and subordinate employees in the workplace. There is therefore a need for all skillful managers to remain within the bounds of ethics in resolving all organizational and workplace problems and in devising innovative strategies that ensure the firm’s continued growth. Research carried out by Transparency International identifies that corruption is propagated by managers through acceptance of bribes by those in power so as to facilitate services against company policy. Bribes may be received as monetary rewards or indirect gifts that are bound to influence the manager inappropriately. This is not only considered illegal but it also hurts economic development and eventually leads to lower product quality and standards. This therefore implies that inferior products and services are introduced in the market at the expense of consumers. Further, the managers end up making poor decisions and hold a poor perspective of employees which destroys the relationship between seniors and subordinates. The case against corruption and the misuse of power can in no way be better illustrated than by the ongoing global financial meltdown whose onset is solely attributed to the mortgage meltdown. Chief Executive Officers of renowned banks such as those on the Wall Street ignored all core ethics in their lending to customers. In fact, little or no collateral was required and minimal investigation was carried out as to the client’s repayment capacity as far as the clients ‘convinced’ those in power that they could meet the demands of the agreement. This has consequently resulted in the world’s worst economic crisis since the Great Depression. (Lahart, 2007) Like all other societal problems, corruption, due to the misuse of power by those in authority, can be stamped out. Various measures such as installing a vigilance system to monitor the relationship between managers and their clients have been proposed. Further proposals are in support of a system that evaluates the manager’s economic standing and compares it to the status and living standards enjoyed. However, the easiest way to stamp out corruption is by appealing to the manager’s moral institution and ethics in combating this detrimental vice. In today’s world, a vital tool in combating leadership problems in any workplace environment is emotional intelligence. It has been defined as the ability of an individual, in this case, the manager, to influence emotions by managing and assessing them in oneself as well as in other people such as employees so as attain the set goals of the organization. Therefore, the inherent relationship between leadership and emotional intelligence cannot be ignored. First, emotional intelligence is crucial in creating self-awareness in the leaders. They ably recognize feelings as they happen, perform accurate assessments and therefore attain self-confidence. Secondly, it ensures managers acquire self-regulation such that they can aptly keep disruptive emotions and impulses at bay, thereby gaining self-control, honesty and integrity. Thirdly, it ensures managers remain motivated, which is the driving force towards attainment of goals. This enables the manager to have a healthy achievement drive, commitment towards the organization’s vision, optimism in the face of obstacles and initiative by acting on available opportunities. Fourthly, emotional intelligence goes a long way in creating empathy whereby the manager is aware of employees’ needs, concerns, feelings and their fears. Finally, it imparts social skills whereby the manager can successfully induce favorable responses in the workforce through effective diplomacy, open communication and listening ability, inspiration, bonding, collaboration and co-operation so as to create group synergy towards achieving the set goals. (Goleman, 1995) Therefore, training managers as to the essence of emotional intelligence shall be more successful than any monitoring tactics installed. This is widely supported by studies as that done by Sosik and Megerian (1999) in which they evaluated the change brought about by emotional intelligence. Findings showed that the managers had radically transformed in their leadership behavior and performance outcomes while their employees felt that their superiors were more receptive, transparent and encouraging (Sosik, 1999). Transparency and accountability go a long way in ensuring that ethics are upheld in an organization therefore leading to a healthy working environment. This serves to illustrate that there is no other greater weapon against power induced corruption than emotional intelligence. References Goleman, D. (1995). Emotional Intelligence: Why It Can Matter More Than IQ. New York: Bantam Books. Lahart, J. (2007). Egg Cracks Differ In Housing, Finance Shells . Wall Street Journal , 12. Sosik, J. J. (1999). Understanding Leader Emotional Intelligence and Performance. In Group Oraganization Management (pp. 367-390).

How systems and processes deployed within the organization are aligned Assignment

How systems and processes deployed within the organization are aligned with organizations objectives - Assignment Example This research aims to evaluate and present the analysis that is provided in the context of theories and practices in operations management at the workplace. Finally suggestions are provided on how the process can be managed better in order to attain organizational objectives. The key to the company’s business operation is the fact that it keeps changing itself with the ever changing world that it exists in. The company undertakes successful business process re-engineering which is objected to provide solutions to the three main factors in business, namely, customer, change and competition. BPR accounts for one of the main operations strategy of Walmart for achieving radical improvement in contemporary and critical measures of performances such quality, costs, services and speed. The strategy focuses on re-examining its basic roots and aiming to undertake complete reinvention. BPR activities have been particularly employed in Walmart for attaining scale of operations and reduci ng costs so as to attain a competitive edge in the market. Following is a typical BPR process undertaken in Walmart involving cross functional cooperation and changes, identifying expectations of customers and also identifying where the process is falling short of meeting those expectations. The supply chain operator in Walmart seeks to enhance efficiency to such a level such as to attain low price leadership among other retailers in the market. (Haag, Cummings & McCubbrey, 2004, p.101). Because of this high efficiency the company has been able to attain low margins as compared to other retailers. As commented by Pete Abell, the research director at AMR Research Inc. at Boston, cost of goods of Walmart is at least low by 5% to 10% from that of its competitors. The retail giant was effective in becoming the best supply chain operator of all times in terms of undertaking two fundamental strategies. Firstly, it has leveraged its scale in numerous ways for the creation of operational ef ficiencies consequently driving significant competitive advantage. Secondly, it has used its scale for creating competitive advantage through best execution and investment in supply chain (Dorado, 2006, p.1). Globally the retailer has around 9000 number of suppliers which includes Nestle, P&G, Unilever and even Kraft. The company also exercises tremendous power and control over its suppliers. For negotiating with suppliers Walmart

Cost Analysis Essay Example | Topics and Well Written Essays - 750 words

Cost Analysis - Essay Example 6 Works cited 8 1. How much do US Airways profits fluctuate due to fuel volatility? The quarterly report of 2013 of US Airways shows that, as compared to 2012, the net income earned by the company in the second quarter of 2013 has decreased, which has further lowered the Earnings per Share (EPS) available to the shareholders. The reason for this decrease in profits can be apportioned to the volatility in prices of fuel. As mentioned in the quarterly report of 2013, on a daily basis the prices of Brent crude oil had fluctuated between $110 per barrel to $97 per barrel in the month of April, and in the quarter end the price was found to be $102 per barrel. Although the U.S. airline Industry is facing moderate fuel prices in the second quarter of 2013, but in the 1st quarter of 2012, the industry faced higher volatility and uncertainty which have affected the business. The uncertainty in the prices of fuel has caused disruptions in the supply of aircraft fuel and has adversely affected the operating results and liquidity of the company. 2. Â  Why is fuel volatility bad for profits? Do a cost analysis alone, and then do a full profit maximizing analysis. Volatility in the prices of fuel has serious affects on profits of the company. The volatility results in ups and downs in dividends and share prices which adverse affects global growth. Volatility in the prices of fuel also affects output, operations and cash flow, which in turn affects profitability. The cost of express and mainline fuel was $1.13billion in the second quarter of 2013, which was 4.6% or $55million lower as compared to the second quarter of 2012. The company is trying to maintain a low cost structure, but it is dependent on two factors, the health of the economy and the price of fuel. The mainline costs per available seat mile excluding special items, fuel and profits have decreased by 0.4%, i.e. 0.04cents, from 8.25cents in the second quarter of 2012, to 8.21cents in the second quarter of 2013. I n such a situation, the company can attempt to maximize its profits by an attempt to minimize its risks by adopting risk control measures. Systematic risk is not under the control of the company, but the company may try to overcome unsystematic risks with the help of strategic decisions. 3. What is Express Operation’s operating cost per ASM? What is its operating cost per RPM? What is the difference between these two numbers? Cost per Available Seat Miles (CASM) is a measure of unit cost used commonly in the airline industry. It is expressed in cents to manage each seat mile offered. It is computed by dividing various measures of operating revenue by ASM (Available Seat Miles). Cost per ASM is used to compare costs of different airlines or of the same airline across different time periods. A lower CASM makes it easier for an airline to make profit, but does not guarantee profitability. Revenue Passenger Mile (RPM) is created when a passenger pays to fly one mile and is consid ered to be the basic measure of airline passenger traffic. RPM can be considered to be the basic amount of production created by an airline. RPM can be calculated by multiplying the number of filled seats by the number of miles flown. Over an airline’s system ASM can be compared to RPM to determine the total passenger load factor. RPM is frequently compared to ASM, as ASM determines the total number of passenger miles that could be produced to verify the amount of revenue

Fast Food Franchises Pakistan Essay Example for Free

Fast Food Franchises Pakistan Essay A survey was conducted amongst several people from different categories of the society to determine the conclusion of this report’s research. Also, certain threats to western fast food franchise were discussed. In this report we covered McDonalds, KFC and Pizza Hut as the main western franchise restaurants, with a few references to the Subway chain. 2. Introduction 2. 1. WHAT IS A FRANCHISE? A franchise is defined as a legal and commercial relationship between the owner of a trademark, service mark, trade name, or advertising symbol and an individual or group wishing to use that identification in a business. Each franchise business has been authorized by a parent company, or franchisor, to sell their goods or services either in a retail space or a designated geographical location. The franchise administers the method of conducting business between the two parties. Generally, a franchisee sells goods or services supplied by the franchisor or that meet the franchisors quality standards. The franchisee has the rights to market the product or service using the operating methods of the franchisor. The franchisee has the obligation to pay the franchisor certain fees and royalties in exchange for these rights. The franchisor has the obligation to provide these rights and generally support the franchisee. In this sense, franchising is not a business or an industry, but a method used by businesses for the marketing and distribution of their products or services. Both franchisor and franchisee have a strong vested interest in the success of the brand and keeping their customers happy. 2. 2. WHAT IS FAST FOOD? Fast food is any food that is quick, convenient, and usually inexpensive. It is a type of food that can be prepared and served very quickly. While any meal with low preparation time can be considered to be fast food, typically the term refers to food sold in a restaurant or store with low quality preparation and served to the customer in a packaged form for take-away. Fast food can be bought just about anywhere that sells food and snacks. Street vendors and drive-thru restaurants are probably the most common places to find fast food. Its so popular because for a cheap price you can usually get a meal thats satisfying. But fast food is inexpensive because it is usually made with cheaper ingredients such as high fat meat and foods that contain lots of unhealthy fats (saturated and trans-fats) and cholesterol, instead of nutritious foods such as lean meats, fresh fruits, and vegetables. Fast food in Pakistan is available almost anywhere, and the franchising of international fast food brands has created a new and successful market. 1 2. 3. WESTERN FAST FOOD CHAINS IN PAKISTAN Globalization has made our world a smaller place. Cultural exchange has exposed our society to foreign ideas and foreign foods have entered our country. The following is an introduction of the three most famous western franchises in Pakistan: 2. 4. McDonalds [pic] McDonalds first opened its store in Pakistan in September 1998. Since then, they have opened seventeen new stores throughout Pakistan. Today, millions of Pakistanis place their trust in McDonalds everyday to provide them with food of a very high quality as well as good service. In the past five years, the response to McDonalds coming from Pakistanis has been overwhelming. Currently, Lakson Group Companies has taken over McDonalds Corporation, USA and a local partner making it a 100% owned and operated Pakistani company. The first set of golden arches began shining back in September 1998 in the city of Lahore. The opening was met with great excitement, and about a week later the McDonalds in Karachi opened. As of 2005, there were 18 restaurants in Pakistan: 7 in Karachi, 1 in Hyderabad, 9 in Lahore, and 1 in Faisalabad. [1] 2. 5. KFC [pic] In Pakistan KFC was franchised by Artal Restaurants International in 1997. it was a Belgium based business group. KFC opened its first restaurant in Pakistan in 1997 at Nipa Chorangi, Gulshan-e-Iqbal, Karachi. KFC opened its first restaurant in Lahore, in June 1997, which was third in Pakistan. Today, KFC has more than 43 restaurants in Pakistan. The market is ripe for many more restaurants and the investors are keen to invest. In 2001, KFC franchise was taken over by Gray Mackenzie Restaurants International. Currently KFC in Pakistan is owned by a Dubai based company Cupola which is the worlds largest restaurant system with over 32,500 restaurants in more than 100 countries and territories. KFC is in a phase of growth and is expanding rapidly. The quality of their product is convincing the customers not to shift to any other brand. KFC has won several awards for there good food quality, customer relationship and for providing means of income for the masses of the country. The company is presently a giant in the fried chicken industry as there competitors are far behind. Presently they are trying to innovate there products for the ease of the customers, and they are also focusing on providing there customers with more healthy food. KFC is expected to dominate the huge local market of fast food restaurants in the Pakistan and provide high quality and healthier food to their customers. KFC has a huge scope of progressing further and has lots of opportunities in local market. KFC is expected to have more than 100 branches all over Pakistan in the near future. [2] 2. 6. PIZZA HUT [pic] When it was initially opened in Pakistan, over 10 years ago in December 1993, Pizza Hut got a very good response by the Pakistani consumer base. Pizza Hut–Pakistan is working under a franchise agreement between MCR (Private) Limited and TRICON Restaurants International (Former Pepsi Co restaurant International). Pizza Hut Pakistan reports to TRICON (India) TRICON Singapore simultaneously. Pizza Hut opened its first outlet in Clifton Karachi and the people of Pakistan welcomed them with open arms. As most restaurants do, Pizza Hut did not face the problem of taste development because it introduced some of the local taste in their Pizzas, like Chicken Tikka Pizza, Masala Pizza and Chappli Kebab Pizza. Currently, Pizza Hut has 14 outlets in all over Pakistan and it still aiming to further expand. It is the market leader in the pizza market within Pakistan. [3] 3. ECONOMIC AND SOCIAL IMPACT The establishment of western franchise fast food chains in Pakistan has affected the business activities to some extent. They have also developed new tastes for our society and lifestyles. Here are a few aspects of how McDonalds, KFC and Pizza Hut have contributed in our economy and social lives. 3. 1. [pic] †¢ McDonald’s in Pakistan is currently employing about 1,000 Pakistanis and each store is managed by Pakistani managers. †¢ McDonalds has investment of over Rs 300 crore in the country and payment of taxes and duties amounting to more than Rs 100 crore. †¢ Since McDonalds is doing so well in Pakistan they will continue to grow and add more stores in more cities in the future. †¢ The managers working for Lakson, reportedly monthly to the McDonalds headquarter located in Illinois. In the eighteen restaurant located in Pakistan all of the employees, managers as well as those working for Lakson are of Pakistani descent. †¢ Since McDonalds first opened in Pakistan back in September of 1998 they have been able to add things to their menu that cater to the needs of the Pakistanis culture. Almost all the people of Pakistan practice Islam. The Islamic dietary laws are called Halal. Halal is also the term for permitted foods. Prohibited foods as described in the Quran are called Haram. Some of these foods include pork and birds of prey, alcohol is also prohibited and stimulants, such as coffee and tea, are avoided by the most devout. There are also guidelines on how meat must be slaughtered. McDonalds has tried to work with this by offering menu choices such as the McArabia that are acceptable for Muslims. In Muslim countries all of McDonalds meat is slaughtered and prepared according to Islamic Halal standards. Not that long ago McDonalds change their burgers, cookies, and hamburger buns so they do not contain any lard, making more acceptable to more people in Pakistan. †¢ They also keep the classics on the menu. They do offer what they call a McArabia, which is chicken on flatbread with a special sauce and they also offer many of the originals such as the Big Mac and hamburger with chicken. So while McDonalds has modified their menu to include some local favorites they have also kept the infamous burgers and meals. †¢ As does the McDonalds in the United States, the McDonalds in Pakistan also caters to the children of the community. They offer four types of happy meals, which of course include a toy. Currently with the purchase of a happy meal the kids get a Kung Fu Panda Movie toy. †¢ Another exciting fixation that McDonalds Pakistan is doing is they are now offering their McDelivery service free of charge. This delivery service will deliver all menu items to customers with order of RS 150 or more. Since this service is relatively new it is only offered at two stores at this time. They include Karachi and Lahore, but other locations will be added to this list soon. †¢ Just like the McDonalds in the United States they also hold birthday parties at McDonalds in Pakistan. They even offer birthday packages with food and surprises for the kids. †¢ McDonalds has also become involved in the Pakistani community by taking part in local projects and charities. As stated in their vision McDonalds is firmly committed to giving back to the communities they operate in. They take part by giving money they receive in stores every month to Darul Skoon (orphan house). †¢ When McDonalds opened its first store in Pakistan the drive through lines were seven kilometers long. With lines this long is was obvious that many Pakistanis were happy to welcome McDonalds into their homes. †¢ According to The News International McDonalds in Pakistan has sold more burgers in Pakistan than anywhere else in the world. With only 18 stores currently in Pakistan this shows how busy McDonalds is. Many people are excited to have McDonalds because it is a brand-name and it gives them the opportunity to enjoy the same things that foreigners enjoy. †¢ McDonalds costs the same in Pakistan as in the US, and given the per capita GDP disparity between the two countries, it is the cheapest food in the United States, while being one of the most expensive in Pakistan. Even with the high cost people are still flocking to McDonalds. †¢ McDonalds business operation in Pakistan overall has been a complete success for the McDonalds Corporation as well as the Pakistani community. Both parties involved have gained more than their anticipated outcome from the arrival of McDonalds back in 1998. †¢ In the future it is believed that McDonalds will continue to grow within Pakistan and throughout the world. It is also felt that the Pakistani people will work very hard to keep McDonalds name and food service at the high quality people are used to. [4] 3. 2. †¢ [pic]The government of Pakistan receives over Rs. 10 million per month from KFC Pakistan as direct taxes. †¢ Around 95% of all food and packaging material used in KFC Pakistan is produced locally, which sums up to a purchase of over Rs. 35 million per month. †¢ For each new outlet developed by KFC Pakistan, it costs approximately Rs. 40 million, which is a huge amount for Pakistani construction industry. †¢ The products of KFC are not comparatively cheaper than the other brands in the market but still it doesnt matter much because the quality as compared to there competitors is so good that people still go to KFC. KFC has tried to cater to the local environment in recent years and some achievements and adaptations include: †¢ Offered discounts on festival like Eid and Ramzan (all you can eat deals). †¢ Expansion of outlets throughout Pakistan. †¢ Children diversified products (nuggets, chicky meals). †¢ Improved dessert section (deal with Wall’s ice cream). †¢ Employing over 1000 Pakistanis. †¢ Introduction of local menu such as Arabian rice. [5] 3. 3. [pic]One of the greatest strengths of Pizza Hut is its strong brand name. Pizza hut is a well-known and popular chain of restaurants not only all over the world but also in Pakistan as well. Its positive brand image has furthered helped it gain a competitive edge in the market. †¢ Pizza Hut offers a different varieties of pizzas that agree with the tastes of all members of the target market. †¢ Main strength lies in the variety of deals offered by Pizza Hut from time to time. Deals such as â€Å"Midnight Deal† and â€Å"Rupee 1 Deal† actually help attract customers from different income segments. It has also pioneered in introducing membership cards to offer the members pizza at discounted rate. Special dicount cards are also offered. †¢ Yet strength of Pizza Hut is the large number of outlets that can be found all over Karachi and also within Pakistan. Pizza Hut has its outlets in all major areas of Karachi. †¢ Pizza Hut branches also have an unmatched ambiance not found in other restaurants. The ambiance and the environment and the feeling of just being there and being seen there is also unmatched by its competitors. †¢ Pizza Hut employs thosuands of Pakistanis. Another internal strength of Pizza Hut is that it has an attractive compensation program and low employee turnover. It provides best compensation package in the industry. It has a Health Care Policy, according to which it provides medical facilities to all its employees. Thus resulting in lower employee turnover rate. †¢ Pizza hut branches,such as the one in Clifton, Karachi , have installed arcades to provide recreation for children. Dot puzzles and a colouring layout is designed behind te dinner mats for the children. [6] 3. 4. PUBLIC SURVEY ON ECONOMIC AND SOCIAL IMPACT A host of people were surveyed during this research to obtain the general public opinion on western franchises contributions : [pic] The survey conducted amongst several people in the writing of this report shows a general agreement that international franchise does bring valuable investment and income to Pakistan. Most people agree that there was an increment in government revenue since franchises were established here. [pic] The general survey suggests that most people consider the investment and revenue generated by the franchise industry as the most valuable contribution. Social progress was considered least important whereas the various career opportunities opened up by the franchise industry fared as the second best contribution. Many people agreed that the exposure to western culture through fast food was important too. [pic] In recent years, the health oriented approach to diet has taken a grasp over our society. Fast food is generally considered unhealthy because it is usually made with cheaper ingredients such as high fat meat and foods that contain lots of unhealthy fats (saturated and trans-fats) and cholesterol, instead of nutritious foods. However, the survey indicated that though the fast food maybe considered as unhealthy, the healthy approach to life does not affect the fast food industry very much. However, most people surveyed (33%) were not sure about this factor’s impact on business. 4. PROBLEMS AND THREATS FACED BY WESTERN FAST FOOD FRANCHISE Every business in Pakistan faces certain problems, and the western fast food franchises are no exceptions. Developing a franchise restaurant in a new country is difficult, and maintainence of business and market strenght is the toughest job for theses franchises. Here are a few problems they faced by Mcdonalds, KFC and Pizza Hut once they were established in Paksitan : 4. 1. PROBLEMS AND THREATS. †¢ [pic] POLITICAL: McDonalds, being an American restaurant, has faced problems due to politics and had to deal with the instability of the government. In 2007-08, Pakistan was having problems with their President Pervez Musharraf, an important US ally. There is also the conflict with Kashmir which could cause U. S. relations to deteriorate and cause McDonalds business in Pakistan to drop dramatically. †¢ GLOBAL: Another worry that can cause future problems for McDonalds is if the United States were to pull out the aid they are providing Pakistan for any reason. At that time since Musharraf was backing President Bush in the war on terror the United States was giving a large amount of aid and highly beneficial trade deals to Pakistan. Any mishap between the US and current Pakistani government can destroy the American business and influence. †¢ SECURITY: Some people who were angry about the bombings in Afghanistan in 2001immediately related McDonalds back to the United States and began to vandalize the property. Many people believe that McDonalds in one of the most popular American symbols, which of course puts it at risk when political upheaval begins. So while many Pakistanis enjoy McDonalds others see it as an American company and proceed to vandalize it due to what is going on with the war. There has been protesting against U. S. led attacks against Iraq and some groups have chosen to boycott against all western products including McDonalds. Along with these boycotts sales dropped a little, but there were not any drastic changes. [7] †¢ [pic] LOCAL FOODS: One of the mian competion for western franchises is the local food industry. Pakistan has a vast arsenal of traditional local menus. Hence, KFC still needs to capture fast food market because their market share in Pakistan is still low as compared to their competitor. †¢ DIESEASE: In 2005-07, Pakistan faced major a crises on the breakage of the bird flu virus. As KFC’s main specialty is chicken, in time of epedemics like bird flu they face heavy losses. KFC still needs to innovate their products to maintain competitive advantage. †¢ POLITICS: Politics has played a major role in the franchise food business. A couple of years back in Pakistan a few of KFCs branches were burned because the people thought that they were generating money for the US. †¢ HEALTH FACTOR : Fried Chicken is usually considered the most fat-containing food item. Oil in which chicken is fried is high in cholestrol, and the healthy approach to diet in recent years may hinder KFC’s growth. †¢ [pic]LOCAL FOODS: A major threat for Pizza Hut is the competition from local restaurants. Not only are other franchises a threat but also local restaurants such as Lal Qila, Usmania, Village etc. these restaurants pose as a potential threat to Pizza Hut because they also offer food which is the ultimate aim of the customer. †¢ POLITICAL: Pizza Hut, being an American franchise restaurant, has faced problems similar to that of KFC and McDonalds due to politcal reasons. Hostilty towards American influences can lead to a decrease in sales and hamper business activity. †¢ HEALTH FACTOR: Food form Pizza Hut is considered relatively heavy, due to the massive amounts of cheese used in their pizzas. The ever present salad bar has not dispelled health concerns as people believe that the sauces used in the salad themselves contain heavy fat contents. Pizza Hut has, however, tried to diversify its menu with the introduction of new appetizers. 4. 2. PUBLIC SURVEY ON PROBLEMS AND THREATS FACED BY WESTERN FAST FOOD Many people had their own opinions on which problem threatens the western fast food industry the most in Pakistan. One of the major issues was the health factor as the point of â€Å"well balanced diet† is highly debatable in terms of fast food. [pic] Many people believe that the most important threat faced by western fast food franchise is the security. Most franchises are of American origin, and hence the on going war on terror hugely affect Pak-US relations. Also, any instabilty in the political system can turn the franchise into victims of vandalism. A large propotion of people also expressed that the vast local food industry challenges the strenght of the western fast food franchise. They argued that since local foods are cheaper, few people can afford western fast food. Those who argued for global crises claimed that the recent recession can make western fast food unaffordable. 4. 3. HEALTH FACTOR AS A THREAT [pic] A majority of people agreed that the main rival to KFC, McDonalds and Pizza Hut is the more healthier menu of Subway. Subway offers a large variety of healthy meals with heavy vegetable and protein content as compared to other franchises. Hence Subway is a major threat to the business of these franchises. [pic] This survey on health was again conducted, but from a different angle. KFC and its fried chicken, which is highly oily, was considered appropriately as the most unhealthiest restaurant. However, in this second survey most people also argued that the many sauces used by Subway in its sandwiches contain large fat contents, so Subway may not necessarily pose a huge threat to the other franchises. 5. GENERAL CONSUMER RESPONSE In this report, research was also conducted on factors which compell the people to dine in these western fast food franchises. For this purpose we would like to like to categorize people as follows: i) Low category people ii) Middle category people iii) High category people Their responses are: i) Low category people:- These people eat fast food very seldom. They visit fast food restaurants only at special occassions,as it is not that much easy for everyone to afford the quality food provided by the western fast food franchises like KFC, McDonalds etc. Some of these people dont want to waste their money on fast food, and rather have food at their own homes. Besides this, these people are also not habitual of fast food. They are not encouraging the fast food business in Pakistan. Even if fast food has been banned in this country, these people wont be affected in any way. ii) Middle category people:- These people consume fast foods on a consistent basis. It depends upon the status factor. Many people like to boast about having dinner in a â€Å"foreign† and â€Å"branded† restaurant. They eat out in these restaurants once or even twice in a week. They pay a valuable response to fast food as they look for quality food and this response encourages the western fast food franchises. iii) High category people:- The people in this category have fast foods very often. They not only look for quality foods but they consider it as a means of having fun with friends. The natural ambience of these restaurants is also a major attraction to them. No matter how high the prices of food items at western fast food franchises go, these people are always ready to pay. They are helping to increase the trend of fast foods in Pakistan, which definitely encourages their business. Besides these categories there are also some health conscious people (as discussed previoulsy) who donot want eat fast food because of fat contents in these fast foods. Such people can be found in all categories discuused above. Reasearch on most important factor for dining in a western franchise fast food is as follows: [pic] The unmatchable quality of food offered by the western franchise fast food restaurants is the main factor of attracting people. Fast food is also widley considers to be tasty, as proved by the above consesnus. The price of food at these restaurants is also significant when opting to dine there. A very few people just dine in these restaurants because of the ambience and its attractiveness. The following is the survey on peoples preferences of various fast food franchises: [pic] Most people, particularly here in Karachi, prefer to dine at Pizza Hut. It is the different variety of pizzas offered that has given Pizza Hut its widespread popularity. Also most Pakistanis generally enjoy heavy diet, and pizzas fulfill this desire. As seen above, very few people enjoy the light delicacies offered by Subway. Chicken constitutes in the basic diet of people here, and it is no surprise to see KFC score 31%. 6. CONCLUSION In culmination, we would like to conclude that the establishment of western fast food franchises in Pakistan has indeed proved to be a successful business endeavor. The economic and social contributions outweigh the threats they face by a greater margin. With greater and successful planning, the western fast food franchises can easily minimize their threats and problems. Doing so can speed their progressive activities in Pakistan. We can also conclude that the general public response to these franchises in Pakistan is positive and many people are willing to dine at these franchise restaurants because of they high quality and standard they deliver. 7. QUESTIONNAIRE Franchise Food Chains in Pakistan Questionnaire 1. Select below the income band you fall under: o Rs. 5000-10,000 pm o Rs. 10,000-20,000 pm o Rs. 20,000-40,000 pm o Rs. 40,000 above pm 2. How often do you dine out in a month: o Once o Twice o Thrice o Never 3. Do you prefer Pakistani restaurants or western franchise? o Pakistani o Western 4. For western, kindly rate the following restaurants according to your preferences on a scale from 1-5 (1 being the highest): o KFC_____ o Pizza Hut_____ o Subway _____ o McDonalds _____ 5. What are the factors you consider most important when dining out in a western franchise? (Rank from 1-5, 1 being the highest) o Price_______ o Ambience_______ o Status Quo_______ o Taste_______. o Quality_______ 6. Do you think western franchise in food industry is bringing good investments in Pakistan? o Yes________ o If No, then why? 7. In recent years do you think that the more health oriented approach of people has affected the franchise food industry: o Yes o No o Not sure 8. Do you agree that Subway offers a healthier alternative to fast food? o Yes o No o Not sure 9. Rank on a scale from 1-5 (1 being the highest) the most important contributions of fast food chains in Pakistan: o Career Opportunities ________ o Investment/Revenues ________ o Social Progress ________ o Cultural Exchange ________. 10. Has the political situation in Pakistan drastically affected franchise food business: o Yes o No o To some extent o Not sure 11. What are the factors that can hinder the growth of Franchise food industry in our country? o Political Instability o Global Crisis o Security Concerns o Local Food industry o Others, Please specify: 12. On a scale of 1-4 (1 being the highest) rate the restaurants which offer the healthiest food. o Pizza Hut _______ o Subway _______ o McDonalds _______ o KFC _______ 13. According to you what percentage of the urban population consumes franchise fast food? o 60%-40% o 40%-20%. o 20%-10% o Less than 10% 9. BIBLIOGRAPHY WEBSITES: †¢ Corporate Webpage of McDonalds. McDonalds Corporate. 2004. Mar. 2005. . †¢  ¦Corporate Website of Pakistan McDonalds. McDonalds Pakistan. Aug. 2002. Mar. 2005. †¢ http://www. fratfiles. com/topics/kfc+pakistan/0 †¢ http://www. fratfiles. com/essays/55556. html †¢ http://en. wikipedia. org/wiki/Fast-food_restaurant †¢ http://answers. yahoo. com/question/index? qid= †¢ http://www. fratfiles. com/topics/pizza+hut+pakistan/0 [1] Reference: http://en. wikipedia. org/wiki/Fast-food_restaurant [2] Refer.ence:  §? Corporate Website of Pakistan McDonalds. McDonalds Pakistan. Aug. 2002. Mar. 2005. †¢ [3] Reference: http://www. fratfiles. com/topics/ ¦Corporate Website of Pakistan McDonalds. McDonalds Pakistan. Aug. 2002. Mar. 2005. [4] Reference: http://www. fratfiles. com/topics/kfc+pakistan/0 †¢ [5] Reference: http://www. fratfiles. com/topics/pizza+hut+pakistan/0 †¢ [6] Reference: Corporate Website of Pakistan McDonalds. McDonalds Pakistan. Aug. 2002. Mar. 2005. [7] Reference: http://www. fratfiles. com/topics/kfc+pakistan/0 [8] Reference: http://www. fratfiles. com/topics/pizza+hut+pakistan/0 [9] Reference: http://www. fratfiles. com/essays/55556. html.

Writing a Personal Narrative :: Personal Reflection

A narrative is a story. In writing a narrative essay, you share with the reader some personal experience of your own in order to make a point or convey a message. You may choose to tell how your grandfather influenced your desire to become an orthodontist, or perhaps you’ll relate the story of the time you didn’t make the cut for the basketball team. Whatever story you tell, your purpose is to share with others some experience that has taught you something or changed you somehow. Remember that narration is more than just description. Your essay should be descriptive, but it should also emphasize the significance of a particular event, object, or person. There are several components of an effective narrative. The following are some things to keep in mind when writing your essay: Focus Narrative effect is the main point of your story—the moral, the message, the insight you offer. Without a specific narrative effect, your essay is merely a series of unconnected events. If you are unsure what your main point is, you might ask yourself, â€Å"Why am I telling this story? Why should someone else be interested in reading about my experience?† In addition, you must decide whether to reveal your point explicitly (stated directly) or implicitly (suggested but not stated). Development Details add depth and color to your narrative. If your essay consists merely of dry facts, readers quickly grow uninterested. You can describe things through the methods of scene and summary. In the scene method, use very detailed, evocative description to immerse the reader in the situation or place you describe. Your goal is to make the scene come alive for the reader. Usually narratives are based on one or two key scenes. Reserve in-depth detail for these key scenes, and fill in the rest of the story using the method of summary (giving a brief synopsis of events). Organization and Coherence The narrative consists of three basic parts: The orientation, at the beginning of the essay, establishes the setting, characters, and other essential elements of the story. The complication involves rising conflict that leads up to the climax (the point of highest action in the story). Then, in the resolution, the conflict is resolved and the narrative effect is revealed or suggested. Your narrative also needs a time structure. You must decide whether chronological time or psychological time best suits your story. In chronological time, events are described in the order in which they

Higher education Essay

Modern day education is aided with a variety of technology, computers, projectors, internet, and many more. Diverse knowledge is being spread among the people. Everything that can be simplified has been made simpler. Science has explored every aspect of life. There is much to learn and more to assimilate. Internet provides abysmal knowledge. There is no end to it. One can learn everything he wishes to. Every topic has developed into a subject. New inventions and discoveries have revealed the unknown world to us more variedly. Once a new aspect is discovered, hundreds of heads start babbling over it, and you get a dogma from hearsay. Not only our planet but the whole universe has become accessible. Now we have good and learned teachers to impart us with knowledge of what they know. Every one is a master in his field. We and our children are getting taught by professionals of their field. Presently our education is based on making us the best in our area of interest, to help us reach our goals more easily. More of the fact based knowledge is being grasped by us. What we learn helps us in our career and in our profession. Professionalism is deep-rooted in our society now and this education makes us so. Skill-development and vocational education has added a new feather to the modern system of education. There is something to learn for everyone. Even an infant these days goes to a kindergarten. And a little grown, mentally and physically is promoted to a Montessori. Everything is being categorized, be it a primary, middle, a higher secondary or graduate school. We have temples of education known by a familiar word the â€Å"university†. Whatsoever we are getting educated day by day and what’s good about is that it’s a never-ending process. Rightly said by Aristotle, â€Å"Education is an ornament in prosperity and a refugee in adversity. † is what everybody feels now. THE CON’S Well, that was the positive side, but every story has two telling. Of all the virtue, our education system has developed into mere schooling now. New trends are being developed which are far more a baloney that boon. Albert Einstein once said â€Å"Education is that which remains, if one has forgotten everything one learned in school. † Firstly our education is confined to schools and colleges. It has become a process of spoon feeding. â€Å"Spoon feeding in the long run teaches us nothing but the shape of the spoon† were the words of E. M. Forster. We are being fed with facts and knowledge. Not art, not books, but life itself is the true basis of teaching and learning. Cramming of facts and dates, hi-fi mathematical formulas, theories and doctrines should be at college levels when one has chosen his area of interest. What will the history pay a doctor or a mathematician, or medical terms to a historian? Secondly, an art can only be learned from a workshop of those who are earning their bread from it. Modern education has spread more ignorance than knowledge. Most of the women even don’t know, where, the fabric they are wearing, came from. The word â€Å"How† is missing in our world which causes ignorance. â€Å"Education†¦has produced a vast population able to read but unable to distinguish what is worth reading. † says G. M. Trevelyan. Thirdly all education is bad which is not self-education. Presently, children after school are sent to tuitions. This is a clear question mark on the ability of school teacher. Homework tutorials are mushrooming up in our society. Students are thought of like they can’t do anything on their own and so are sent even to do the homework. Our schoolings got a lot of loop-holes. They guide us through a well catered pathway which finally leads to professionalism. Homework is a waste of time, if it is to repeat class work done today or to be repeated as class work to be done tomorrow. Our schooling does not leave us with time to get educated. Mark Twain once said that† I have never let my schooling interfere with my education†. Our child’s normal routine has become to wake up early, brush up their minds with light reading, go to school, then go to tuition and finally come home and do the homework. Finally our education is producing machines out of pupil. They read books, they speak books and they do books. Discussing in class lead to complications, which remains as confusions for a life time if left untreated. Vladimir Nabokov, a U. S critic, poet and novelist says â€Å"Discussion in class, which means letting twenty young blockheads and two cocky neurotics discuss something that neither their teacher nor they know. † So, it’s a matter of debate that our education system is fallacious or fair.

Training Report on Wholesale Banking Operation in Axis Bank.

REPORT ON SUMMER TRAINING OF Submitted to KCL-IMT (PTU) In partial fulfillment of the requirements for the award of degree of MASTER OF BUSINESS ADMINISTRATION Submitted by: Name of the student : KIRAN DOGRA Roll No: 1174251| Supervisor: Dr. SUKHMANI WARAICH Ass. prof. | DEPARTMENT OF MANAGEMENT KCL-IMT JALANDHAR BATCH-2011-2013 DECLARATIONI, â€Å"KIRAN DOGRA†, hereby declare that the work presented herein is genuine work done originally by me and has not been published or submitted elsewhere for the requirement of a MBA program me. Any literature, data or works done by others and cited within this research project has been given due acknowledgement and listed in the reference section. _______________________ (Student's name ; Signature) PREFACE Someone has rightly said that practical experience is for  better and closer to the real world then mere theoretical exposure. The practical experience helps the students view the real world closely, which in turn widely nfluences their  perceptions and argument their understanding of the real situation. Report work constitutes the backbone of any management education program me. A management student has to do report work quite frequently during his entire span. The report work entitle â€Å"WHOLESALE BANKING OPERATION OF AXIS BANK† aims to analyze various services and products provided by AXIS and for this purpose TANDA city have been chosen. CERTIFICATE This is to certify that the project work of Ms. KIRAN DOGRA on WHOLESALE BANKING OPERATION with AXIS BANK has been compiled under my supervision and guidance. _________________________ (Faculty Name ; Signature) ACKNOWLEDGEMENT I present this project report on â€Å"whole banking operations† IN AXISBANK LTD. , WARDHA with a sense of great pleasure and satisfaction. I undersign with pleasure take this opportunity to thank all those related directly or indirectly in preparation of this project report. I started working on this project under the invaluable guidance of Honorable Miss. Riddhi Deshpande mam for which I am very much thankful for her valued time given for the purpose. Without her co-operation our project work would have been difficult to complete.I express our sincere thanks to Mr. HITESH RAWAL, (Branch Manager) in Axis Bank Ltd. ,TANDA and staff in that organization. I am also thankful to Dr. INDERPREET SINGH sir [Director of our college] and Miss. sukhmani waraich [Project In charge] to allow us to carry out this project. I also thank all my friends who have more or less contributed to the preparation of this project report. I will be always indebted to them. INDEX S. No. | CHAPTERS| PAGE No. | 1. | CHAPTER – 1 (COMPANY PROFILE)| 8-22| 1. 1 | Introduction of axis bank| 8| 1. 2| History of axis bank| 9-13| 1. 3| Management of axis bank| 14-15| 1. | Definition of banking| 15| 1. 5| Meaning of banking| 15| 1. 6| Product of axis bank| 15-16| 1. 7| Customer services on banking operation| 16-17| 1. 8| Tradit ional banking activity | 17| 1. 9 | Accounting for bank account| 17-18| 1. 10| Economic function| 18-20| 1. 11| Types of investment ban| 20| 1. 12| Mortgage banking| 20-22| 1. 13| KYC (know your customer)| 22| 1. 14| Competitors | 22| | | | 2. | CHAPTER – 2| 23-26| | Need, Scope, Objectives, methodology and limitation of the study. | 23-26| | | | | | | 3. | Chapter – 3| 27-38| 3. 1| Project introduction| 27| 3. 2| Meaning of wholesale banking operation| 27-28| . 3| Concept | 28-34| 3. 4| Current account information| 34-35| 3. 4. 1| Channel one:(for successful business)| 34| 3. 4. 2| Builders and real estate| 35| 3. 5| Training in wholesale banking operation| 35-38| 3. 5. 1| Corporate| 35-36| 3. 5. 2| Small and medium enterprises| 36-37| 3. 5. 3| Government | 37-38| | | | 4. | Chapter – 4| 39-51| 4. 1| Data analysis| 39-51| | | | 5. | Chapter – 5| 52| 5. 1| Finding and suggestion| 52| 5. 2| Conclusion and recommendation| 52| | | | 6. | Chapter – 6| 53| | Bibliography| 54| | Appendices-Customer Feedback Form| 55-57| CHAPTER 1 1. COMPANY PROFILE 1. INTRODUCTION OF AXIS BANK Commercial banking services which includes merchant banking, direct finance infrastructure finance, venture capital fund, advisory, trusteeship, forex, treasury and other related financial services. Axis Bank Limited  is an Indian  financial services  firm that had begun operations in 1994, after the  Government of India  allowed new private banks to be established. The Bank was promoted jointly by the Administrator of the Specified Undertaking of the Unit Trust of India  (UTI),  Life Insurance Corporation of India  (LIC), General Insurance Corporation Ltd. , National Insurance Company Ltd.The New India Assurance Company,  The Oriental Insurance corporation  and  United India Insurance Company  UTI holds a special position in the Indian capital markets and has promoted many leading financial institutions in the country. As on the year ended 31 March, 2012, Axis Bank had an operating revenue of 13,437 crores and a net profit of 4242 crores. Axis Bank opened its registered office in Ahmedabad and corporate office in Mumbai in December 1993. The first branch was inaugurated in April 1994 in Ahmedabad by Dr. Manmohan Singh , then the honorable Finance Minister . 1. 2 HISTORY OF AXIS BANK 1993:The Bank was incorporated on 3rd December and Certificate of business on 14th December. The Bank transacts banking business of all description. UTI Bank Ltd. was promoted by Unit Trust of India, Life Insurance Corporation of India, General Insurance Corporation of India and its four subsidiaries. The bank was the first private sector bank to get a license under the new guidelines issued by the RBI. 1997: The Bank obtained license to act as Depository Participant with NSDL and applied for registration with SEBI to act as `Trustee to Debenture Holders'. Rupees 100 crores was contributed by UTI, the rest from LIC Rs 7. crores, GIC and its four subsidiaries Rs 1. 5 crores each. 1998: The Bank has 28 branches in urban and semi urban areas as on31st July. All the branches are fully computerized and networked through VSAT. ATM services are available in 27 branches. The Bank came out with a public issue of 1,50,00,000 No. of equity shares of Rs10 each at a premium of Rs 11 per share aggregating to Rs 31. 50crores and Offer for sale of 2,00,00,000 No. of equity shares for cash at a price of Rs 21 per share. Out of the public issue 2, 20,000 shares were reserved for allotment on preferential basis to employees of UTI Bank.Balance of 3, 47, 80,000 shares were offered to the public. The company offers ATM cards, using which account-holders can with draw money from any of the bank's ATMs across the country which is inter-connected by VSAT. UTI Bank has launched a new retail product with operational flexibility for its customers. UTI Bank will sign a co-brand agreement with the market, leader, Citibank NA for entering i nto the highly promising credit card business. UTI Bank promoted by India's pioneer mutual fund Unit Trust of India along with LIC, GIC and its four subsidiaries. 1999: UTI Bank and Citibank have launched an international co-branded Credit card.UTI Bank and Citibank have come together to launch an international co-branded credit card under the Master Card umbrella. UTI Bank Ltd has inaugurated an offsite ATM at Ashok Nagar here, taking the total number of its offsite ATMs. 2000: The Bank has announced the launch of Tele-Depository Services for Its depository clients. UTI Bank has launch of `I Connect', its Internet banking Product. UTI Bank has signed a memorandum of understanding with equitymaster. com for e-broking activities of the site. Infinity. com financial Securities Ltd. , an e-broking outfit is Typing up with UTI Bank for a banking interface.Geojit Securities Ltd, the first company to start online trading services, has signed a MoU with UTI Bank to enable investors to buys ell demat stocks through the company's website. India bulls have signed a memorandum of understanding with UTI Bank. UTI Bank has entered into an agreement with Stock Holding Corporation of India for providing loans against hares to SCHCIL's customers and funding investors in public and rights issues. ICRA has upgraded the rating UTI Bank's Rs 500 crores certificate of deposit programmed to A1+. UTI Bank has tied up with L&T Trade. com for providing customized online trading solution for brokers. 001: UTI Bank launched a private placement of non-convertible debentures to rise up to Rs 75 crores. UTI Bank has opened two offsite ATMs and one extension counter with an ATM in Mangalore, taking its total number of ATMs across the country to 355. UTI Bank has recorded 62 per cent rise in net profit for the quarter ended September 30, 2001, at Rs 30. 95 crores. For the second quarter ended September 30, 2000, the net profit was Rs 19. 08 crores. The total income of the bank during the quar ter was up 53 per cent at Rs 366. 25 crores. 2002: UTI Bank Ltd has informed BSE that Shri B R Barwale has resigned as a Director of the Bank w. . f. January 02, 2002. A C Shah, former chairman of Bank of Baroda, also retired from the bank’s board in the third quarter of last year. His place continues to be vacant. MD a modern took over as the director of the board after taking in there INS of UTI. B S Pandit has also joined the bank’s board subsequent to the retirement of K G Vassal. UTI Bank Ltd has informed that Shri Paul Fletcher has been appointed as an Additional Director Nominee of CDC Financial Service (Mauritius) Ltd of the Bank . And Shri Donald Peck has been appointed as an Additional Director (nominee of South Asia Regional Fund) of the Bank.UTI Bank Ltd has informed that on laying down the office of Chairman of LIC on being appointed as Chairman of SEBI, Shri G N Bajpai, Nominee Director of LIC has resigned as a Director of the Bank. 2003: UTI Bank Ltd has informed BSE that at the meeting of the Board of Directors of the company held on January 16, 2003, Shri R N Bharadwaj, Managing Director of LIC has been appointed as an Additional Director of the Bank with immediate effect. – UTI Bank, the private sector bank has opened a branch at Nellore. The bank’s Chairman and Managing Director, Dr P. J. Nayak, inaugurating the bank branch at GT Road on May 26.Speaking on the occasion, Dr Nayak said. This marks another step towards the extensive customer banking focus that we are providing across the country and reinforces our commitment to bring superior banking services, marked by convenience and closeness to customers. -UTI Bank Ltd. has informed the Exchange that at its meeting held on June 25, 2003 the BOD have decided the following: 1) To appoint Mr. A T Pannir Selvam, former CMD of Union Bank of India and Prof. Jayanth Varma of the Indian Institute of Management, Ahmadabad as additional directors of the Bank with immediate effect.Further, Mr. Pannir Selvam will be the nominee director of the Administrator of the specified undertaking of the Unit Trust of India (UTI-I) and Mr. Jayanth Varma will be an Independent Director. 2) To issue Non-Convertible Unsecured Redeemable Debentures up to Rs. 100 crores, in one or more tranches as the Bank's Tier – II capital. -UTI has been authorized to launch 16 ATM son the Western Railway Stations of Mumbai Division. -UTI filed suit against financial institutions IFCI Ltd in the debt recovery tribunal at Mumbai to recover Rs. 5cr in dues. -UTI bank made an entry to the Food Credit Programme; it has made an entry into the 59 cluster which includes private sector, public sector, old private sector and co-operative banks. -Shri Ajeet Prasad, Nominee of UTI has resigned as the director of the bank. -Banks Chairman and MD Dr. P. J. Nayak inaugurated a new branch at Nellore. -UTI bank allots shares under Employee Stock Option Scheme to its employees. -Unveils pre-p aid travel card ‘Visa Electron Travel Currency Card' -Allotment of 58923equity shares of Rs 10 each under ESOP. UTI Bank ties up with UK govt fund for contract farm in -Shri B S Pandit, nominee of the Administrator of the Specified Undertaking of the Unit Trust of India(UTI-I) has resigned as a director from the Bank w e f November 12,2003. -UTI Bank unveils new ATM in Sikkim. 2004: Comes out with Rs. 500 Unsecured Redeemable Non-Convertible Debenture Issue, issue fully subscribed -UTI Bank Ltd has informed that Shri Ajeet Prasad, Nominee of the Administrator of the Specified Undertaking of the Unit Trust of India (UTI – I) has been appointed as an Additional Director of the Bank w. e. f. January 20,2004. UTI Bank opens new branch in Udupi-UTI Bank, Geojit in pact for trading platform in Qatar -UTI Bank ties up with Shri ram Group Cos-Unveils premium payment facility through ATMs applicable to LIC UTI Bank customers –Metal junction (MJ)- the online trading and pr ocurement joint venture of Tata Steel and Steel Authority of India(SAIL)- has roped in UTI Bank to start off own equipment for Tata Steel. -DIEBOLD Systems Private Ltd, a wholly owned subsidiary of Diebold Incorporated, has secured a major contract for the supply of ATMs an services to UTI Bank -HSBC completes acquisition of 14. % stake in UTI Bank for . 6 m -UTI Bank installs ATM in Thiruvananthapuram –Launches Remittance Card' in association with Remit2India, a Web site offering money transfer services. 2005: * UTI Bank enters into a banc assurance partnership with Bajaj Allianz General for selling general insurance products through its branch network. * UTI Bank launches its first Satellite Retail Assets Centre (SRAC) in Karnataka at Mangalore. 2006: * UBL sets up branch in Jaipur. UTI Bank unveils priority banking lounge. * UTI Bank launches operations of UBL Sales, its Sales Subsidiary -Inaugurates its first office in Bangalore. * UTI Bank announces the launch of its Cre dit Card Business. * UTI Bank becomes the first Indian Bank to successfully issue Foreign Currency Hybrid Capital in the International Market. * UTI Bank Business Gold Debit Card MasterCard Launched – Designed for business related spending by SMEs and self employed professionals. 2007:AXIS Bank Ltd has informed that consequent upon handing over charge as Administrator of the Specified Undertaking of the Unit Trust of India (SUUTI), Shri. S B Mathur, the Nominee Director of SUUTI has resigned as a Director of the Bank December 06, 2007. * AXIS Bank Ltd has informed that Fitch Ratings on December 14, 2007, has upgraded the Bank's National Long-term rating to ‘AAA(ind)' from ‘AA+(ind)'. * AXIS Bank Ltd has appointed Shri K N Prithvi raj as an Additional Director on the Board at Directors of the Bank. * Company name has been changed from UTI Bank Ltd to Axis Bank Ltd. 008: * Axis Bank launches Platinum Credit Card, India's first EMV chip based card. * Axis Bank set up its branch at Ilanji at Meenakshi Nagar on the Coutralam-Madurai road on April 16. 2009: * Axis Bank today said its board has recommended the appointment of Shikha Sharma, currently chief of ICICI group's life insurance business, as its next managing director and CEO. * Axis Bank has set up a new branch at Perumbavoor. The bank has a network of 832 branches along with 8 extension counters and 3622 ATMs across the country. Axis Bank, on Wednesday entered into a strategic alliance with Motilal Oswal, the financial services firm, in order to facilitate the online trading for the bank's customers. * AXIS Bank Ltd has informed that the Board of Directors of the Bank at its meeting held on June 01, 2009, inducted Smt. Shikha Sharma as an Additional Director of the Bank. * Axis bank has received final clearance from the Securities and Exchange Board of India (SEBI) to begin its mutual fund operations and will launch debt and equity schemes soon whereas IDBI Bank is awaiting the regulator' s permit for an entry. Axis Bank opened the new branch at Irinjalakuda while it has a network of 892 branches, 8 extension counters and 3,806 ATMs across the country. 2010: Axis Bank Limited has informed that at the meeting of the Board of Directors held on January 15, 2010, the following decisions were taken: * To appoint Dr. Adarsh Kishore, former Finance Secretary, Government of India and former Executive Director, International Monetary Fund representing Bangladesh, Bhutan, India and Sri Lanka as the Non-Executive Chairman of the Bank, subject to RBI approval; * To appoint Shri S.B. Mathur, former Chairman, LIC and the National Stock Exchange of India, as an Additional Independent Director, with immediate effect. 1. 3 MANAGEMENT OF AXIS BANK ORGANIZATION STRUCTURE OF AXIS BANK PROMOTERS: Axis Bank Ltd. has been promoted by the largest and the best Financial Institution of the country, UTI. The Bank was set up with a capital of Rs. 115 crores, with UTI contributing Rs. 100 Crores , LIC – Rs. 7. 5 Crores and GIC and its four subsidiaries contributing Rs. . 5 Crores each SUUTI – Shareholding 27. 02%Erstwhile Unit Trust of India was setup as a body corporate under the UTI Act, 1963, with a view to encourage savings and investment. In December 2002, the UTI Act, 1963 was repealed with the passage of Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 by the Parliament, paving the way for the bifurcation of UTI into 2 entities, UTI-I and UTI-II with effect from1st February 2003. In accordance with the Act, the Undertaking specified as UTI I has been transferred and ested in the Administrator of the Specified Undertaking of the Unit Trust of India (SUUTI), who manages assured return schemes along with 6. 75% US-64 Bonds,6. 60% ARS Bonds with a Unit Capital of over Rs. 14167. 59 crores. The Government of India has currently appointed Shri K. N. Prithviraj as the Administrator of the Specified undertaking of UTI, to look after and admini ster the schemes under UTI where Government has continuing obligations and commitments to the investors, which it will uphold. 1. 4 DEFINITIONS OF BANKINGA bank is a financial institution licensed by a government. Its primary activity is to lend money. Many other financial activities were allowed over time. For example banks are important players in financial markets and offer financial services such as investment funds. Banking can also be defined as engaging in the business of keeping money for savings and checking accounts or for exchange or for issuing loans and credit. Transacting business with a bank: Depositing or withdrawing funds or requesting a loan.Bank – a supply or stock held in reserve for future use (especially in emergencies) 1. 5 MEANING OF BANKING An organization, usually a corporation, chartered by a state or federal government, which does most or all of the following: receives demand deposits and time deposits, honors instruments drawn on them, and pays in terest on them; discounts notes, makes loans, and invests in securities; collects checks, drafts, and notes; certifies depositor's checks; and issues drafts and cashier's checks. 1. 6 PRODUCT OF AXIS BANK * Product of axis bank * Easy Access Saving Account Saving Account for Women * Prime Saving Account * Senior Citizens Saving Account * Priority Banking * Corporate Salary Account * Trust /NGOs Saving Account * Resident Foreign Currency Account * Online Trading Account * Current Account * Term Deposits * Locker Facilities * NRI Services * Depository Services * Financial Advisory Services * Wealth Management Services * Insurance Solutions – Life and General * Retail Loans * Credit Loans * Travel Currency Cards * Remittance Cards * Gift Cards 1. 7 CUSTOMER SERVICE IN BANKING OPERATION * Cheque Drop Box FacilityRBI's Committee on Procedures and Performance Audit on Public Services has recommended that both the drop box facility and the facility for acknowledgement of the cheques at the regular collection counters should be available to customers and no branch should refuse to give an acknowledgement if the customer tenders the cheques at the counters. * Issue of Cheque Books: The Committee has observed that some banks do not allow depositors to collect their cheque book at the branch but insist on dispatching the cheque book by courier to the depositor.Further, it is stated by the Committee that the deposit or is forced to sign a declaration that a dispatch by the courier is at the depositor's risk and consequence and that the depositor shall not hold the bank liable in any manner whatsoever in respect of such dispatch of cheque book. Committee has observed this as an unfair practice and advised banks to refrain from obtaining such undertakings from depositors. Banks should also ensure that cheque books are delivered over the counters on request to the depositors or his authorized representative. Statement of Accounts / Pass Books: The Committee has noted that banks invariably show the entries in depositor’s passbooks /statement of accounts as â€Å"By Clearing† or â€Å"By Cheque†. Further, in the case of Electronic Clearing System (ECS) and RBI Electronic Funds Transfer (RBIEFTR) banks invariably do not provide any details even though brief particulars of the remittance are provided to the receiving bank. In some cases computerized entries use sophisticated codes which just cannot be deciphered.With a view to avoiding inconvenience to depositors, banks are advised to avoid such inscrutable entries in passbooks statements of account and ensure that brief, intelligible particulars are invariably entered in passbooks / statements of account. Banks may also ensure that they adhere to the monthly periodicity prescribed by us while sending statement of accounts. 1. 8 TRADITIONAL BANKING ACTIVITIES Banks act as payment agents by conducting checking or current accounts for customers, paying cheques drawn by customers o n the bank, and collecting cheques deposited to customers' current accounts.Banks also enable customer payments via other payment methods such as telegraphic transfer, EFTPOS, and ATM. Banks borrow money by accepting funds deposited on current accounts, by accepting term deposits, and by issuing debt securities such as bank notes and bonds. Banks lend money by making advances to customers on current accounts, by making installment loans, and by investing in marketable debt securities and other forms of money lending. Banks provide almost all payment services, and a bank account is considered indispensable by most businesses, individuals and governments.Non-banks that provide payment services such as remittance companies are not normally considered an adequate substitute for having a bank account. Banks borrow most funds from households and non-financial businesses, and lend most funds to households and non-financial businesses, but non-bank lenders provide a significant and in many cases adequate substitute for bank loans, and money market funds, cash management trusts and other non-bank financial institutions in many cases provide an adequate substitute to banks. 1. 9 ACCOUNTING FOR BANK ACCOUNTBank statements are accounting records produced by banks under the various accounting standards of the world. Under GAAP and IFRS there are two kinds of accounts: debit and credit. Credit accounts are Revenue, Equity and Liabilities. Debit Accounts are Assets and Expenses. This means you credit a credit account to increase its balance, and you debit a debit account to increase its balance. This also means you debit your savings account every time you deposit money into it (and the account is normally in deficit), while you credit your credit card account every time you spend money from it (and the account is normally in credit).However, if you read your bank statement, it will say the opposite—that you credit your account when you deposit money, and you debit it when you withdraw funds. If you have cash in your account, you have a positive (or credit) balance; if you are overdrawn, you have a negative (or deficit) balance. There a son for this is that the bank, and not you, has produced the bank statement. Your savings might be your assets, but the bank's liability, so they are credit accounts (which should have a positive balance).Conversely, your loans are your liabilities but the bank's assets, so they are debit accounts (which should have a also have a positive balance). Where bank transactions, balances, credits and debits are discussed below, they are done so from the viewpoint of the accountholder—which is traditionally what most people are used to seeing. 1. 10 ECONIMIC FUNCTION * Issue of money: In the form of bank note sand current accounts subject to cheque or payment at the customer's order. These claim son banks can act as money because they are negotiable and/or repayable on demand, and hence valued at par.They are eff ectively transferable by mere delivery, in the case of banknotes, or by drawing a cheque that the payee may bank or cash. * Netting and settlement of payments: Banks act as both collection and paying agents for customers, participating in interbank clearing and settlement systems to collect, present, be presented with, and pay payment instruments. This enables banks to economies on reserves held for settlement of payments, since inward and outward payments offset each other. It also enables the offsetting of payment flows between geographical areas, reducing the cost of settlement between them. * Credit intermediation:Banks borrow and lend back-to-back on their own account as middle men. * Credit quality improvement: Banks lend money to ordinary commercial and personal borrowers (ordinary credit quality), but are high quality borrowers. The improvement comes from diversification of the bank's assets and capital which provides a buffer to absorb losses without defaulting on its oblig ations. However, banknotes and deposits are generally unsecured; if the bank gets into difficulty and pledges assets as security, to raise the funding it needs to continue to operate, this puts the note holders and depositors in an economically subordinated position. Maturity Transformation: Banks borrow more on demand debt and short term debt, but provide more long term loans. In other words, they borrow short and lend long. With a stronger credit quality than most other borrowers, banks can do this by aggregating issues (e. g. accepting deposits and issuing banknotes) and redemptions (e. g. withdrawals and redemptions of banknotes), maintaining reserves of cash, investing in marketable securities that can be readily converted to cash if needed, and raising replacement funding as needed from various sources (e. g. wholesale cash markets and securities markets). Banking channels: Banks offer many different channels to access their banking and other services: * A branch, banking cent re or financial centre is a retail location where a bank or financial institution offers a wide array of face-to-face service to its customers. * ATM is a computerized telecommunications device that provides a financial institution's customers a method of financial transactions in a public space without the need for a human clerk or bank teller. Most banks now have more ATMs than branches, and ATMs are providing a wider range of services to a wider range of users.For example in Hong Kong, most ATMs enable anyone to deposit cash to any customer of the bank's account by feeding in the notes and entering the account number to be credited. Also, most ATMs enable card holders from other banks to get their account balance and withdraw cash, even if the card is issued by a foreign bank. * Mail is part of the postal system which itself is a system where in written documents typically enclosed in envelopes, and also small packages containing other matter, are delivered to destinations around the world. This can be used to deposit cheques and to send orders to the bank to pay money to third parties.Banks also normally use mail to deliver periodic account statements to customers. * Telephone banking is a service provided by a financial institution which allows its customers to perform transactions over the telephone. This normally includes bill payments for bills from major billers (e. g. for electricity). * Online banking is a term used for performing transactions, payments etc. over the Internet through a bank, credit union or building society's secure website. * Mobile banking is a method of using one's mobile phone to conduct simple banking transactions by remotely linking into a banking network. Video banking is a term used for performing banking transactions or professional banking consultations via a remote video and audio connection. Video banking can be performed via purpose built banking transaction machines (similar to an Automated teller machine), or via a vi deoconference enabled bank branch. 1. 11 TYPES OF INVESTMENT BANKS * Investment banks â€Å"underwrite† (guarantee the sale of) stock and bond issues, trade for their own accounts, make markets, and advise corporations on capital market activities such as mergers and acquisitions. * Merchant banks were traditionally banks which engaged in trade finance.The modern definition, however, refers to banks which provide capital to firms in the form of shares rather than loans. Unlike venture capital firms, they tend not to invest in new companies. 1. 12 MORTGAGE BANKING Mortgage banking deals primarily with originating mortgage loans and servicing them. Read more about it here as well as about what a career in mortgage banking involves. Mortgage banking is meant for a single purpose, to service the real estate finance industry. Mortgage banking deals specifically with originating mortgage loans as well as servicing them.Mortgage banks are state-licensed entities from which consumers can get mortgage loans directly. Usually, mortgage banks avail funds from the Federal National Mortgage Association, or FNMA, also known as Fannie Mae, the Federal Home Loan Mortgage Corporation, or FHLMC, also known as Freddie Mac, or any other large companies that service mortgages, which are related to the secondary mortgage market. Here are a few pointers about the nitty-gritty of mortgage banking. * Mortgage Banks Specialize in Mortgage Loans: Unlike a savings bank that is federally chartered, in general mortgage banks specialize in only providing mortgage loans.Hence, customers do not deposit their money in these banks. As has been mentioned above, the secondary wholesale market is their primary source of funds. Freddie Mac and Fannie Mae are examples of the lenders in the secondary market. * Mortgage Banks Differ in Size: While some mortgage banks can be nationwide, others can originate a volume of loan that can exceed that of a commercial bank that is nationwide. Many of th ese mortgage banks utilize specialty servicers like Real Time Resolutions to carry out tasks like fraud detection work and repurchase. Mortgage Banks have Two Sources of Revenue: The two main sources of income are from loan servicing fees (if they are into loansevicing0, and fees from loan origination. Mortgage bankers, by and large, are choosing not to service the loans they have originated. That is because they are entitled to earn a service-released premium by selling them soon after the mortgage loans are closed and funded. The investor in the secondary market that purchases the loan has the ability of earning revenue for providing servicing of the loan every month the borrower keeps the loan. Different Banking Laws Apply to Mortgage Banks: Mortgage banks usually operate under banking laws that are quite different, according to the state they operate in. You will need to check each individual state’s financial department or state banking in order to get list of mortgage b ankers in each state. While federal laws apply to the operation of a federal bank, in terms of consumer protection, usually consumers have additional rights, which are applicable according to each state. * Mortgage Bankers can be More Competitive:Since they only specialize in lending and do not have to subsidize any of the losses that other departments may have incurred, as in regular banking, mortgage bankers have the ability of being really competitive when lending for mortgage. However, they usually do not have the advantage of accessing adjustable rate mortgages that are low cost, which federal banks are typically associated with, and federal money access. * A Career in Mortgage Banking: Professionals in mortgage banking in the job market today need to have a college degree in business or finance, or some specific experience or training related to the field.Skills in good customer service, an inherent ability with numbers, and computer skills are also essential requirements for mortgage banking jobs. A mortgage banking professional’s job involves reviewing credit scores, determining the kind of loan that is most beneficial for the customer and guiding them through the process of application as well as closing. The loan officer has to be very organized and detail oriented, and need to be able to handle the large amounts of paperwork and reporting that are required for getting loans approved, up to the closing.A mortgage banking professional also has to have thorough know-how about the regulations associated with federal mortgage as well as the various types. 1. 13 KYC (KNOW YOUR CUSTOMER) As per KYC guideline the RBI has advised banks to follow KYC guidelines of RBI mandates banks to collect three proofs from their customers they are1 Photograph2 Proof of Identity3 Proof of address Accordingly, Axis bank has framed its KYC procedure according to which, a photograph and documentary proof of personal identification and address proof are required t be p rovided.The account Opening form provides the nature of documents required / procedure to be followed for opening a new account. You may also log in to our websitewww. axisbank. com for such information which is displayed product-wise. 1. 14 COMPETITORS 1. ICICI Bank Ltd. 2. HDFC Bank Ltd. 3. State Bank of India 4. HSBC Bank 5. RBS (Royal Bank of Scotland) 6. Maharashtra Bank of India 7. Canara Bank 8. Andhra Bank 9. IDBI bank 10. Bank of India 11. Punjab National Bank 12. Central Bank 13. Allahabad Bank 14.ING Vysya 15. Centurion Bank CHAPTER 2 2. NEED, SCOPE, OBJECTIVE, METHODOLOGY AND LIMITATIONS OF THE STUDY 2. 1 NEED OF RESEARCH The research is significant for me and the bank thus significant as follow to the trainee as follow: – * To the trainee †¢The research has provided the trainee practical knowledge regarding the organization working, survey and other aspect of marketing. †¢This research is also essential for me in fulfillment of MBA curriculum. * To the bank Research would help the bank to get the lead of potential customer and current satisfaction level among existing relationship companies †¢To study the opportunity of cross sailing of other product and services †¢The suggestion provide the researcher will be helpful to improvement of class and quality of service to new and current customers and also help to enhance the activities * To the customer †¢The research will become a medium to convey the dissatisfaction factor to the appropriate person in the management 2. 2 SCOPE OF RESEARCHThe research was conducted for AXIS bank limited in Hoshiarpur City. The research was conducted in operational and marketing aspect of the bank products and survey. The research collected to detail information by personal interview and data collection sheet. 2. 3 OBJECTIVES OF THE STUDY This study has been conducted with a variety of important objectives in mind. The following provides us with the  objectives that have tried to achi eve through the study. The extent to which these objectives have been met could judge from the conclusions and suggestions, which appear in the later of this study. The main objective of the study is to know about the potential of the market regarding people’s dealing in financial services. †¢ To know the role of all financial services. †¢ To know where people have already opened their Account and on what basis. 2. 4 RESEARCH METHODOLOGY Research is an art of scientific investigation. In other word research is a scientific and systematic search for pertinent information on specific topic. The logic behind taking research methodology into consideration is that one can have knowledge about the method and procedure adopted for achievement of objectives of the project.With the adoption of  this others can evaluate the results also. Its main aim is to keep the researchers on the right track. The methodology adopted for studying the objectives was surveying the saving a ccount holders of District HOSHIARPUR. So keeping in view the nature of requirements of the study to collect all the relevant information regarding the comparison of saving account of Centurion Bank of Punjab with other  banks direct personal interview method with structured questionnaire was adopted for the collection of primary data. Secondary data has been collected through the various magazines and newspaper a nd by surfing on internet.And the guide in the organization was consulted at many times. 2. 5 SELECTION OF THE SAMPLE It becomes impossible to contact each and every individual of the population due to limitations of essential resources like time and money. Therefore, the study is preferably allowed down to a representation sample to make the study more manageable. Keeping in view the objectives and resource limitation of the study, 100 respondents were considered. Respondents – 100 The selected sample is representative of the population and is accurate and practi cable. 2. 6 SAMPLING TECHNIQUETo study the Project, a Simple Random Sampling technique is used. 2. 7 SAMPLING PLAN The following factors will be taken into consideration within scope of sampling plan. 1 Sampling unit: It defines the target population that will be sampled i. e. it answers who is to be surveyed. In this study, the sampling unit is customers using internet banking. 1 Sampling size: It indicates the numbers of people to be surveyed. Though large samples give more reliable results than small sample but due to constraints of time and money, the sample size was restricted to 50 respondents. 2. 8 COLLECTION OF DATAAfter the research problem has been defined and the research design has been chalked out, the task of data collection begins. The data can be collected mainly through primary sources, but it was supplement with secondary data. * Primary data collection: Primary data is the data which is collected through observation or direct communication with the respondents in one form or another. These are several methods for primary data collection like Observation Method, Interview Method, through schedules, through questionnaires and so on. * Secondary data collection methods: Secondary data is collected through Internet. Internet We also take into consideration the internet facility with which we  collect lot  of  latest information. * Journal and publications of different banks We also take into consideration the journals and publications issued by the bank  at different times. We  comes to know about the Branches, ATM, locations and other useful information. 2. 9 LIMITATION OF RESEARCH Every research has its own constraints which keep limitation to work similarly this research has also limitation due to which the researcher could not get detailed information regarding project. These are: – Though full efforts have been made but due to the lack of past experience in the marketing field I failed some areas have been left from includi ng in the study †¢ Due to the limitation of time I was unable to cover more sample (data collection sheet) and to fridge the lead granted. CHAPTER 3 PROJECT INTRODUCTION 3. 1 PROJECT INTRODUCTION As a part of curriculum the students of MBA have to undergo Summer Internship Program (SIP). Wherein a student gets the knowledge about practical life, how the work is done in companies, how to get acquainted with working conditions and other many such things, etc. he main aim behind this program is that students get some experience with which he could get assistance while searching the job. This program is generally provided by a company and it lasts for at least two months. Students as per their specializations could apply for SIP and get the opportunity to work in a company, which the college suggests. As a management student I also have to undergo SIP. I got the opportunity to complete this program in AXIS BANK LTD. , for two months. Axis bank is one of the leading BANKS in banking sector in India. First of the two months was devoted to training.Our training started with the session of information about bank product and sale sand – what is the meaning of the concepts, importance of sales and marketing was taught. The second part was about open an account-why we open an account in bank, about the banking sector- as avenue for investment, how banking sector is Better Avenue for investment. The next session was about detailed knowledge about banking sector-how to sell these products in market. The last session was about the practical knowledge about how to get appointment of customers and how to convince them to take the product.In the second month we have sell the products directly in the market, procedure of selling the products etc. 3. 2 MEANING OF WHOLESALE BANKING OPERATIONS The Wholesale Banking contains products sold to large and middle market commercial companies, as well as to consumers on a whole sale basis. This includes lending, treasury manag ement, mutual funds, asset-based lending, commercial real estate, corporate and institutional trust services, and investment banking through Wells Fargo Securities. The company also owns Baring ton Associates, a middle market investment bank.Wells Fargo historically has avoided large corporate loans as stand-alone products, instead requiring that borrowers purchase other products along with loans which the bank sees as a loss leader. One area that is very profitable to Wells, however, is asset-based lending: lending to large companies using assets as collateral that are not normally used in other loans. This can be compared to subprime lending, but on a corporate level. The main brand name for this activity is â€Å"Wells Fargo Foothill,† and is regularly marketed into mb stone ads in the Wall Street Journal.Wells Fargo also owns East dil Secured, which is described as a â€Å"real estate investment bank† but is essentially one of the largest commercial real estate bro kers for very large transactions (such as the purchase and sale of large Class-A office buildings in central business districts throughout the United States). The wholesale banking operations consist of the following transactions: 1. Opening of Account 2. Issue of Check book 3. International Debit / Credit Card 4. Issue of Demand Draft (DD) 5. Net banking 6. E-mail statement 7. Phone banking 8. Insta Query 9. Insta Alert 10. Bill pay 11. Passbook 12.Quarterly Account Statement 13. Loan Facility. 3. 3 CONCEPT 3. 3. 1 SAVING ACCOUNT INFORMATION Definition: A deposit account at a bank or savings and loan which pays interest, but cannot be withdrawn by check writing. Types of Saving Account In Axis Banking 1. Zero Balance Savings Account At Axis Bank it has been constant endeavor to create products specifically catering to your needs. The account while offering a whole range of services also addresses your latent need of having an account without the hassle of maintaining an average qua rterly balance. Features: – 1. No Average Quarterly Balance requirement 2.Free International Debit Card with an Accidental Insurance cover up to Rs 2 lakhs* (charges for the primary holder are waived). 3. Free mobile banking facility 4. Access through more than 825 branches and more than 3595 ATMs 5. At-Par cheque facility with the clearing limit of Rs 50,000 6. 24Ãâ€"7 Tele banking & Internet banking. 7. Free quarterly statements8. Free monthly e-statement Conditions Apply:- 1. Initial funding of Rs. 5,500. 2. Account maintenance fee of Rs. 500 per annum 2. Krishi Savings Account (Kheti Ho Khushahali ki) Axis Bank offers a unique savings account which is easy to operate and allows you to transact immediately.This product has been specially designed keeping in mind the unique requirements of a farmer and true to its nature has been called the Krishi Savings Account. Some of the features of our new product are: Average Balance Requirement : This account is offered with the re quirement of maintaining the half-yearly average balance of Rs 1000only. International Master Debit Card: The Krishi Savings Account entitles you to an International Master Debit Card with which you can access your account anytime through the Axis Bank ATM network free of cost. This card comes with a cash withdrawal limit of Rs 25,000 per day.Free Accident Insurance cover of Rs 2 lacks. Anywhere Banking: Being a Krishi account holder, you are entitled to access our wide network of more than 825 branches and 3595 ATMs across 440 cities. You can now easily carry out your transactions through any of the branches or ATMs. At Par Cheque Book: Your Krishi Savings Account comes with the At-Par Cheque facility. This facility enables you to en cash the cheques as local instruments at any of the 440 centers where the Bank has its presence, at no extra cost. Moreover, you can also issue cheques at other centers upto the limit of Rs 50,000. Easy Access Savings Account (Banking made easy) * A â €“ Accessibility * C – Convenience * C – Comfort * E – Earnings * S – Speed * S – Service Want a savings account that transcends geographical boundaries? Presenting, Axis Bank's Easy Access Savings Account. The account is an endeavor by the Bank to understand the consumers' needs and redefine banking to suit your requirements for a truly comfortable banking experience. Easy Access Savings Account gives you instant access to your money anywhere, anytime. Possessing a range of unmatched features, it has been devised to better suit the convenience of our eclectic client base.You can avail of all these services with a minimum quarterly average balance of Rs. 5,000 in metro or urban centers, Rs. 2,500 in semi urban centers and Rs. 1,000in rural centers. †¢At-par cheque †¢ATM Network †¢Anywhere Banking †¢ Tele banking †¢ i Connect †¢Mobile Banking †¢Quarterly account statement †¢Quarterly interest @ 3. 5 % per annum †¢Free monthly e-statement. You can avail of all these services with a minimum quarterly average balance of Rs. 5,000 in metro or urban centers, Rs. 2,500 in semi urban centers and Rs. 1,000 in rural centers. Corporate Salary Account:Our Corporate Salary Power Offering is designed to offer pay roll solutions through in a 24 X 7 environment. We leverage on our extensive network of distribution channels spread across 450 centers through a network of more than 827 branches and 3595 ATMs besides our superior service delivery model and product features, as a strong differentiator, to provide value to the end user. Benefit to Employers: †¢Efficient salary disbursal. Web Upload – Transfer salaries/reimbursements directly from your current account with Axis Bank to your employee's accounts using I Connect from your office. Single-instruction salary credit – Same day salary credits for all companies having Corporate Account with Axis Bank. Dedicated relationship manager at metro locations to understand the financial requirements of your employees. Benefit to Employees: †¢No minimum balance criteria. †¢Unparalleled Access – Anywhere banking facility through our network of Branches, ATM and Internet banking facility. †¢AT Par cheque books payable locally at all Axis Bank locations. †¢International Debit cum ATM cards with enhanced Cash withdrawal facility and other value add ones. Online Banking with funds transfer, online shopping and bill payment options. †¢Depository services with free online trading accounts. †¢Meal Cards on a master card platform. †¢Employee Reimbursement accounts as a savings account variant. Preferential pricing on loan products and credit cards and other banking products ; services. 3. Prime Savings Account: Want a customized savings account to suit your specific financial requirements? At Axis Bank, we have always strived to pace our products with the growing needs of our cu stomers.The Prime Savings account has therefore been created with your specific financial requirements in mind. Through the ‘At Par' cheque facility, you have the unique advantage to en cash your cheques as a local cheque at more than 330 centers where the bank has a presence at no extra cost. In addition the account enables you to issue cheques up to Rs. 1 lakhs, which will be treated as ‘At Par' across these locations. You can avail of all these services with a minimum average balance of Rs 25,000 in metro/urban/semi-urban centers and Rs 10,000 in rural centers. 4.Smart Privilege Account: (For the woman of today) In today's busy world it's tough being a working woman. Right from shuttling between a job and family to taking care of her finances she has to be on her toes all the time. Keeping this in mind, we at Axis Bank have designed a savings account best suited for the woman of today. With the Smart Privilege Account, you can manage your money and your life and as we ll as enjoy a host of lifestyle privileges. Furthermore Axis Bank's Smart Privilege Account ensures that you have enough time for all the important things in life. Senior Privilege: (Because life begins at sixty) Are you seeking a banking style that compliments your senior status? Axis Bank's Senior Citizen Savings Account has been designed keeping in mind the fact that a senior citizen's banking requirements are wholly different and require special consideration. * Special Privilege: (A Privilege assures the care you deserve): We have introduced Senior Citizen ID card for our Senior Privilege patrons. Let us briefly introduce the wide range of advantages it hold for you. * Avail of Great benefits with Senior Citizen ID cardID card acts as an age proof. Enabling you to redeem every advantage that you are eligible for, this card will soon help you avail of certain never-before Senior-citizen benefits at various stores, service providers and installation across the nation. * Feel safe Every where Apart from provide you with the power to claim great benefits, card also act as emergency information medium. In case of emergencies, it provides the doctors and authorities with vital data like your blood group, allergies, illnesses, address and emergency contact details.This ensures that you are well looked after in any situation, no matter where you are. * Always a Privilege It will help in strengthen the bond with us and to be of assistance to you at all the times, no matter what your need be. Whether its loan, a savings account or any financial services that you wish to avail of, we will make sure that we're always be there by your side. * Power Salute (Salute to the defense forces) Are you looking for an account that fits with your life in the Defence Forces? Defense Salary Account from Axis Bank is a product designed keeping in mind how tough a life in the Defense Forces is.Not only does it come to you absolutely free, no minimum balance is required either. You c an also access the entire Axis Bank network, including more than 2300 ATMs and 550 branch offices (and growing) no matter where you are posted. With the complete gamut of banking services (including overdrafts, loans and zero-balance requirements) you can now rest assured about your family and all their financial needs. It sour way of showing our appreciation to your work. * Banking Privileges: At-par Cheque Facility * Your job involves constant transfers across the country.With the at-par cheque facility it will no longer be necessary to set up new bank accounts with each transfer. * Additional Debit Card * Along with a free International Debit Card, you also get a free card for the joint account holder. This means that your child or spouse also enjoy the same benefits of banking with Axis Bank. * Financial Advisory Services * Our solutions answer to the twin goals of meeting your requirements and to diversify and spread the risk of your investment portfolio, so you can look forwar d to a comfortable and worry-free life.We first understand your exact investment needs and then design the perfect investment plan for you. 5. Trust/NGO Savings Account: Thoughtful banking for people who spend their lives thinking of others Need special banking for special causes? Axis Banks Trust Account is an effort to offer thoughtful banking for people who spend their lives thinking of others. It is a complete banking solution for Trusts, Associations, Societies, Government Bodies, Section 25 companies and NGOs, so that the organizations can devote all of their time to their noble motivations. Features:- A savings account for your trust with a concessional average quarterly Balance a multi-city at-par cheque facility with no limit on clearing payments at centers across the country wherever we are present. Free anywhere banking across all our Branches and Extension Counters and over all our ATMs. Free Demand Drafts or Pay Orders as and when required by you to remit funds. Free co llection of cheques at outstations locations free monthly e-statement Monthly Statement of Account delivered at your doorstep.Facility for collecting donations in your account through our network of Branches and extension counters across the country, as well as through I Connect – our Internet Banking facility. Also, Axis Bank can offer the facility to donate funds to your Trust through our Internet Banking facility I Connect to its customers. An Axis Bank customer can donate any amount to your Trust through the Internet. In such cases, the savings account of the customer gets debited and the savings account of your Trust gets credited with the amount of donation at the same time.At the end of every month, the Bank will provide an MIS giving details of the amount of donations and the name of donor. This will enable the Trust to issue receipts to the donors. Free Internet Banking facility that enables you to view the status of your account, transfer funds and carry out a numbe r of banking activities from the comfort of your home or office. * Investment Advice * Our Financial Advisory Desk will provide portfolio management advice as well as help you undertake investments. * Free Demat To facilitate your investments, we offer a free Demat Account (charges due to NSDL must still be levied) to our esteemed account holders in the Trust or Society segment. * Foreign Contribution (Regulation) Act [FCRA] accounts * The FCRA account enables approved organizations to receive foreign contributions for utilization in their activities in India. The Bank will provide assistance in the process of documentation and obtaining necessary approvals from Ministry of Home Affairs at New Delhi. 3. 4 CURRENT ACCOUNT INFORMATION 3. 4. 1 CHANNEL ONE: (FOR SUCCESSFUL BUSINESSES)The ‘Channel One’ Current Account is an effort in that direction where we take care of your day to day banking requirements leaving you with more time for your business. Channel One Current Acc ount is most appropriate choice of successful businesses. At a monthly Average Balance (MAB ) of Rs. 10 lack. FEATURES: 1. Relationship Manager. 2. Doorstep Banking. 3. Anywhere Banking. 4. Free Internet Banking. 5. Free 24 hour Tele banking. 6. Mobile Banking Service. 7. International debit card. 8. Cheque Protection Facility. 9. Free 24 – hour cheque deposited facility. 10. Payment of Government Taxes/ Dues. 11. Foreign exchange services. . 4. 2 BUILDERS AND REAL ESTATE: Axis Bank understands the increasing demands on businesses in this segment . Here’s presenting the Axis Bank Builder ; Real Estate Current Account a current account with unparalleled product features built to suit Builders ; Realtors exclusively. This account offers you unmatched convenience while adding financial value to your businesses spread over geographies. . At a monthly Average Balance (MAB) of Rs. 5 Lacks this account comes loaded with special facilities and benefits, most appropriate for yo ur business. FEATURES: 1. Home Branch Cash Deposit. 2. Non – Home Branch Cash Withdrawal. . Free Anywhere Banking. 4. Cluster facility. 5. Zero Balance account for Vendors and Suppliers. 6. Franking Facility. 7. Customer cheque printing. 8. Internet Banking. 9. Free 24-hour Phone banking. 10. Mobile Alerts. 11. ATM cum Debit Card. 12. Free Monthly Account Statement. 3. 5 TRAINING IN WHOLESALE BANKING OPERATION 3. 5. 1 CORPORATES Corporate Banking reflects Axis Bank's strengths in providing our corporate clients in India, a wide array of commercial, transactional and electronic banking products. We achieve this through innovative product development and a well-integrated approach to relationship management. Funded Services: Working Capital Finance, Bill Discounting, Export Credit, Short Term Finance, Structured Finance, Term Lending. * Non Funded Services: Letter of Credit, Collection of Documents, Bank Guarantees. * Value Added Services: Syndication Services, Real Time Gross Settlement, Cash Management Services, Corporate Salary Accounts, Reimbursement Account, Bankers to Right/Public Issue, Forex Desk, Money Market Desk, Derivatives Desk, Employees Trusts, Cash Surplus Corporate, Tax Collection * Internet Banking: Supply Chain Management, Corporate Internet Banking, Payment Gateway Services. 3. . 2 SMALL AND MEDIUM ENTERPRISES: At Axis Bank we understand how much of hard work goes into establishing a successful SME. We also understand that your business is anything but â€Å"small† and as demanding as ever. And as your business expands and enters new territories and markets, you need to keep pace with the growing requests that come in, which may lead to purchasing new, or updating existing plant and equipment, or employing new staff to cope with the demand. That's why we at Axis Bank have assembled products, services, resources and expert advice to help ensure that your business excels.Solutions are designed to meet your varying needs. The follo wing links will help you identify your individual needs. * Funded Services: Funded Services from Axis Bank are meant to directly bolster the day-to-day working of a small and a medium business enterprise. From working capital finance to credit substitutes; from export credit to construction equipment loan – we cater to virtually every business requirement of an SME. Click on the services below that best define your needs * Non-Funded Services: Under Non-Funded services Axis Bank offers solutions that act as a catalyst to propel your business.Imagine a situation where you have a letter of credit and need finance against the same or you have a tender and you need to equip yourself with a guarantee in order to go ahead. This is exactly where we can help you so that you don't face any roadblocks when it comes to your business. The following are the services that will precisely tell you what we can do Business Accounts, Letters of Credit, Collection of Documents, Axis Bank Trade, Guarantees, Cash Management Services, Money Market Desk, Derivatives Desk, Services to Cash Surplus Corporate, Services to Employee Trusts, Bankers to Rights/Public Issue, Tax Collection. Specialized Services: Axis Bank is one of the most trusted entities when it comes to specialized services like selling of precious metals to customers. Under specialized services you can also avail customized control of your value chain through our internet banking platform. * Value Added Services: There is a plethora of services that we offer under value added services. There's corporate salary account which ensures smooth payment methods to your staff. You can avail an assortment of credit cards and debit cards from our merchant services. The following are the highlights of this service:Real Time Gross Settlement, Reimbursement Account, Custody Services, Corporate Salary Accounts, Merchant Services, Axis Bank Gold Business Credit Card. * Internet Banking: Internet banking is a revolutionary servi ce under the banking sector and Axis Bank is a forerunner in providing you with this service. We provide state-of-the-art payment gateway services to industries and companies in order to ease transaction processing. This in turn enhances the credibility of your business and makes banking extremely cost-efficient. 3. 5. 3 GOVERNMENT SECTOR:Axis Bank acts as an active medium between the government and the customers by means of various services. These services include : * Tax Collection Where in customers can directly pay their taxes like Direct taxes, Indirect taxes and Sales Tax collections at their local Axis Bank * E-Ticketing Helps the customer by providing him a direct access to book a Railway Ticket online and get it home delivered * Opening of L/C's is done by the bank on behalf of Government of India, Mints and Presses, thus facilitating imports for the Government. * Collection of levies and taxes on behalf of Municipal Corporations i. . Kalyan -Dombivli Municipal Corporation, is undertaken by the Bank. * Collection of stamp duty is done via franking mode in the states of Maharashtra & Gujarat. The Stamp Duty Franking Facility is available at following branches in Maharashtra Fort, Chembur, Lower Parel, Mira Road, Thane (Talao Pali), Panvel, Ratnagiri, Pune (FC Road), Kolhapur, Nagpur, Pimpri. The Stamp Duty Franking Facility is available at following branches in Gujarat Ahmedabad (Navrangpura), Kutch (Mundra), Baroda (Gotri Road), Surat (Ring Road), Bhavnagar & Vapi (GIDC). Disbursement of Pension to retired Employees of Central Govt and Defence is directly done by Axis Bank along with the disbursement of pension to the members of EPFO (Employees Provident Fund Organization) * Electronic Collection of fees on behalf of DGFT is done by the bank too * Ministry of Corporate Affairs Collection of ROC fees for the Ministry through authorized Branches and Net Banking. * Collection of Property Tax through Selected Branches on behalf of Municipal Corporation of Delhi CHAPTER 4 DATA ANALYSIS & INTERPRETATION 4. 1 Analysis of QuestionnaireThe study was conducted and primary data was collected through questionnaire method. For this purpose, 100 respondents of the TANDA city were approached of 100% in the branch has been shown below: Q1 Customer having accou