COMPARATIVE ANALYSIS OF DIRECT BANKING SERVICES OF KOTAK WITH OTHER BANKS

SUMMER TRAINING REPORT SUBMITTED TOWARDS THE PARTIAL FULFILLMENT OF POST GRADUATE DEGREE IN INTERNATIONAL BUSINESS

COMPARATIVE ANALYSIS OF DIRECT BANKING SERVICES OF KOTAK WITH OTHER BANKS

SUBMITTED BY: AMAY GUJRATI_ MBA-IB(2008-2010) Roll No. : A1802008634

INDUSTRY GUIDE Mr. AMIT AGARWAL (BRANCH MANAGER)

FACULTY GUIDE DEEPMALA SONI

AMITY INTERNATIONAL BUSINESS SCHOOL, NOIDA

AMITY UNIVERSITY – UTTAR PRADESH

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INDEX 1. INTRODUCTION………………………………………………………………4 2. ACKNOWLEDGEMENT………………………………………………………5 3. EXECUTIVE SUMMARY……………………………………………………..6 4. RESEARCH METHODOLOGY  RESEARCH OBJECTIVE………………………………………………………………7  IMPORTANCE OF STUDY…………………………………………………………….7  RESEARCH DESIGN…………………………………………………………………..7  SAMPLE DESIGN………………………………………………………………………8  SAMPLE SIZE………………………………………………………………………...8-9

5. CRITICAL REVIEW OF LITRATURE………………………………….10-11 6. BANKING IN INDIA………………………………………………………12-15 7. RETAIL BANKING……………………………………………………….16-18 8. COMPANY PROFILE…………………………………………………....19-20 9. KOTAK RETAIL LIABILITIES…………………………………………..21-42 10. COMPARATIVE ANALYSIS OF DIRECT BANKING SERVICES  KOTAK DIRECT BANKING………………………………………………………44-61  ICICI DIRECT BANKING………………………………………………………….62-70  HDFC DIRECT BANKING………………………………………………………...71-77 2

 SBI DIRECT BANKING……………………………………………………………78-84

11. DATA………………………………………………………………………...85 12. CONCLUSION……………………………………………………………...86 13. RECOMMENDATIONS………………………………………………..87-88 14. BIBLOGRAPHY…………………………………………………………….89 15. ANNEXTURE  GRAPHS……………………………………………………………………………91-99  QUESTIONNAIRE………………………………………………………………100-102  CASE STUDY…………………………………………………………………...103-106

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INTRODUCTION The Indian banking industry is passing through a phase of customers market. A competition has been established within the banks operating in India. With stiff competition and advancement of technology, the services provided by banks have become more easy and convenient.

During my internship I experienced working as a part of Kotak Mahindra Bank Limited (KMBL), Nehru Place Branch. This experience helped me understand the basic functioning of retail banking to its existing and potential customers as well have a knowledge of various Direct Banking Channels.

The study gives detailed information of the Retail sector there being growing worldwide appreciation of the fact that Retail sector play a catalytic role in the development process of most economies.

We have a separate Sales processing cell at KMBL where all the Services regarding Selling of Financial Solutions are processed and served well.

I have presented my learning in the form of a Study of Retail Liabilities Division of Kotak Mahindra Bank and comparative analysis of Direct banking Services Of Kotak with other banks. This describes the All Features and their USPs of a particular Product, Which is and can be the need of consumer in near future.

It was very beneficial as I not only understood the customized products and services offered to the customers, but also the entire procedure of Selling Of RETAIL Products(PARTICULARLY CASA/TD/LI). Besides this I was enlightened on the procedures of how to activate net banking facilities of customers as well as how to make online payment of bills of customers.

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ACKNOWLEDGEMENT I express my sincere gratitude to my industry guide Mr. AMIT AGARWAL, Branch Manager of KOTAK MAHINDRA BANK, NEHRU PLACE Branch for his able guidance, continuous support and cooperation throughout my project, without which the present work would not have been possible.

I would also like to thank the entire team of KOTAK for the constant support and help in the successful completion of my project.

Also, I am thankful to my faculty guide Ms. DEEPMALA SONI of my institute, for her continued guidance and invaluable encouragement.

SIGNATURE AMAY GUJRATI

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EXECUTIVE SUMMARY Banking in India originated in the first decade of 18th century. The first banks were The General Bank of India, which started in 1786, and Bank of Hindustan, both of which are now defunct. The oldest bank in existence in India is the State Bank of India, which originated in the "The Bank of Bengal" in Calcutta in June 1806.

Currently (2007), overall, banking in India is considered as fairly mature in terms of supply, product range and reach-even though reach in rural India still remains a challenge for the private sector and foreign banks In March 2006, the Reserve Bank of India allowed Warburg Pincus to increase its stake in Kotak Mahindra Bank (a private sector bank) to 10%. This is the first time an investor has been allowed to hold more than 5% in a private sector bank since the RBI announced norms in 2005 that any stake exceeding 5% in the private sector banks would need to be vetted by them.

Currently, India has 88 scheduled commercial banks (SCBs) - 28 public sector banks (that is with the Government of India holding a stake), 29 private banks (these do not have government stake; they may be publicly listed and traded on stock exchanges) and 31 foreign banks. They have a combined network of over 53,000 branches and 17,000 ATMs. According to a report by ICRA Limited, a rating agency, the public sector banks hold over 75 percent of total assets of the banking industry, with the private and foreign banks holding 18.2% and 6.5% respectively.

The major work in this research project has been done with the view to analyze the Direct Banking Services and its comparison with its competitors. And to know the areas where the bank performance is lagging behind. I developed questionnaire and duly got them filled from various customers of KOTAK and its competitors.

The analysis of the data so collected was the next logical step to undertake. The data was tabulated, the responses were noted and suitable tools and techniques were applied to infer the data. The survey revealed several important areas of concern for kotak.

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RESEARCH OBJECTIVE PRIMARY OBJECTIVE Primary objective is to make comparative analysis of the direct banking services of Kotak Mahindra Bank and to find out what all things on which the bank should pay more attention in order to satisfy more of its customers.

SECONDARY OBJECTIVE The secondary objective is to find out the different strategies adopted by its competitors this will help the bank to overcome its shortcomings.

IMPORTANCE OF THE STUDY •

By the help of this study, the bank will be able to know its present situation. Thus, the management will be able to take necessary measures by paying more attention on the sectors which are outperforming and by this study they will also come to know what all things the customers want.

•

With the help of this study the company will be able to attract and build a large customer base as they will be able to know the taste and preferences of the customers.

RESEARCH DESIGN I have used a Descriptive Research design in my study as I have described all the features and characteristics of different direct banking channels of kotak and its competitors to arrive on a particular conclusion.

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SAMPLE DESIGN The sampling design adopted for this study is probability proportional to size as it has following advantages:  It reduces the heavily expected non response of many smaller operators.  It provides a simple sample selection rule that allows flexibility in using most upto-date data from a variety of sources, thus minimizing the sample size.  The study involved finding the responses of the customers of Kotak Mahindra Bank in the Delhi/ NCR region specifically. For that we administered the questionnaire to the customers of Kotak as well as to its competitors.

SAMPLE SIZE Determining sample size is a very important issue because samples that are too large may waste time, resources and money, while samples that are too small may lead to inaccurate results. In many cases, we can easily determine the minimum sample size needed to estimate a process parameter, such as the population mean .

When sample data is collected and the sample mean is calculated, that sample mean is typically different from the population mean . This difference between the sample and population means can be thought of as an error. The margin of error is the maximum difference between the observed sample mean population mean :

and the true value of the

Where: is known as the critical value, the positive the area of

value that is at the vertical boundary for

in the right tail of the standard normal distribution.

is the population standard deviation. is the sample size.

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Rearranging this formula, we can solve for the sample size necessary to produce results accurate to a specified confidence and margin of error.

This formula can be used when you know and want to determine the sample size necessary to establish, with a confidence of , the mean value to within . You can still use this formula if you don’t know your population standard deviation and you have a small sample size. Although it’s unlikely that you know when the population mean is not known, you may be able to determine from a similar process or from a pilot test/simulation.

The sample size for the region has been taken to be 100.

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CRITICAL REVIEW OF LITRATURE In India still there is lack of users for internet as a medium for banking purpose, but the banking system are upgrading and bringing many electronic banking medium for customers so that banking can be made more convenient.

[1] Joseph et al. (1999) investigated the influence of internet on the delivery of banking services. They found six underlying dimensions of e-banking service quality such as convenience and accuracy, feedback and complaint management, efficiency, queue management, accessibility and customization. Jun and Cai (2001) identified 17 service quality dimensions of i-banking service quality. These are reliability, responsiveness, competence, courtesy, credibility, access, communication, understanding the customer, collaboration, continuous improvement, content, accuracy, ease of use, timeliness, aesthetics, security and divers features. They also suggested that some dimensions such as responsiveness, reliability and access are critical for both traditional and internet banks. Jayawardhena (2004) transforms the original SERVQUAL scale to the internet context and develops a battery of 21 items to assess service quality in ebanking. By means of an Exploratory Factor Analysis (EFA) and a Confirmatory Factor Analysis (CFA), these 21 items are condensed to five quality dimensions: access, website interface, trust, attention and credibility. From the provider perspective, there are target quality and delivered quality. The focus of process- or supply-led quality definition is rather internal than external, and it is defined as conformance to requirements. It lays emphasis on the importance of the management and the supply-side quality, and there is an important role of the process in determining the quality of outcome (Ghobadian, 1994). Achieving the quality of conformance between the planned (target) quality level and the real quality delivered to customers depends on the service quality management system in an organization.

[2] IAMAI report on online banking 2006. 43% of online banking user haven’t started online financial transaction because of security reasons, 39% haven’t started because they prefer face to face, 22% haven’t started because they don’t know how to use, for 10% sites are not user friendly and for 2% banks are not providing the facility of internet banking. According to research 68% of the customers can not say that when they will be starting the financial transactions through internet. Maximum numbers of online banking users are male and maximum of them are in age the group of 25-35.

Numbers of female users are very less i.e. 17% only. More than 60% of the people who are having account with have accounts in 3-4 banks. Only 37% of Indian Internet users come from Top 10 cities i.e. Mumbai, Bangalore, Delhi, Calcutta, Chennai, Pune, Hyderabad, Ahmedabad, Surat and Nagpur. Another day and another number. As per IAMAI and I-cube, the number of active Internet user (i.e.ones who logon to Internet 10

atleast once a month) is now 32 million and numbers who have used Internet atleast once stands at 46 million.

[3] The Indian Internet Banking Journey In 2001, a Reserve Bank of India survey revealed that of 46 major banks operating in India, around 50% were either offering Internet banking services at various levels or planned to in the near future.

According to a research report,( India Research, Kotak Securities, May 2000.) while in 2001, India's Internet user base was an estimated 9 lakh; it was expected to reach 90 lakh by 2003. Also, while only 1% of these Internet users utilized the Internet banking services in 1998, the Internet banking user base increased to 16.7% by mid- 2000.

[4] Meute r et al. (2000) have identified critical incidents of customer satisfaction and dissatisfaction with technology-based service encounters. Given that business-tobusiness transactions are the fastest growing segment of technology-driven services (Hof, 1999); Meuter and his colleagues (2000) suggested investigating what drives business customer satisfaction or dissatisfaction with technology driven services.

According to Gönroos (1982), customers distinguish the quality of customer interactions that take place during service delivery (functional quality) and the quality of the outcome the customer receives in the service encounter (technical quality). Customers perceive the quality of services of Internet banking based on the performance of online delivery systems – not on the processes in which the delivered service is developed and produced. Because customers perceive Internet banking service quality based on relatively standardized outcomes determined by online systems, customer attitudes toward that outcome reflect overall quality of services delivered Customers usually perceive risks in conducting transactions electronically and particularly if the transactions involve money. Risk perception can be of six different types: time risk, finacial risk, performance risk, psychological risk and safety/confidentiality risk. It is generally considered that risk perception could be higher for electronic banking services. This study aims to understand extent to which whether this is consideration is valid as well as to determine the levels of risk perception differences among those using Internet Banking and those not using it.

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BANKING IN INDIA Banking in India originated in the first decade of 18th century. The first banks were The General Bank of India, which started in 1786, and Bank of Hindustan, both of which are now defunct. The oldest bank in existence in India is the State Bank of India, which originated in the "The Bank of Bengal" in Calcutta in June 1806. This was one of the three presidency banks, the other two being the Bank of Bombay and the Bank of Madras. The presidency banks were established under charters from the British East India Company. They merged in 1925 to form the Imperial Bank of India, which, upon India's independence, became the State Bank of India.For many years the Presidency banks acted as quasi-central banks, as did their successors. The Reserve Bank of India formally took on the responsibility of regulating the Indian banking sector from 1935.

After India's independence in 1947, the Reserve Bank was nationalized and given broader powers.

EARLY HISTORY The first fully Indian owned bank was the Allahabad Bank, established in 1865.However, at the end of late-18th century, there were hardly any banks in India in the modern sense of the term. The American Civil War stopped the supply of cotton to Lancashire from the Confederate States. Promoters opened banks banks to finance trading in Indian cotton. With large exposure to speculative ventures, most of the banks opened in India during that period failed. The depositors lost money and lost interest in keeping deposits with banks. Subsequently, banking in India remained the exclusive domain of Europeans for next several decades until the beginning of the 20 th century.Foreign banks too started to arrive, particularly in Calcutta, in the 1860s. The Comptoire d'Escompte de Paris opened a branch in Calcutta in 1860, and another in Bombay in 1862; branches in Madras and Pondichery, then a French colony,followed.

Calcutta was the most active trading port in India, mainly due to the trade of the British Empire, and so became a banking center.

The Bank of Bengal, which later became the State Bank of India.

Around the turn of the 20th Century, the Indian economy was passing through a relative period of stability. Around five decades had elapsed since the Indian Mutiny, and the social, industrial and other infrastructure had improved. Indians had established small banks, most of which served particular ethnic and religious communities. The presidency banks dominated banking in India. There were also some exchange banks and a number of Indian joint stock banks. All these banks operated in different segments of the economy. The exchange banks, mostly owned by Europeans, 12

concentrated on financing foreign trade. Indian joint stock banks were generally under capitalized and lacked the experience and maturity to compete with the presidency and exchange banks. This segmentation let Lord Curzon to observe, "In respect of banking it seems we are behind the times. We are like some old fashioned sailing ship, divided by solid wooden bulkheads into separate and cumbersome compartments." By the 1900s, the market expanded with the establishment of banks such as Punjab National Bank, in 1895 in Lahore and Bank of India, in 1906, in Mumbai - both of which were founded under private ownership. Punjab National Bank is the first Swadeshi Bank founded by the leaders like Lala Lajpat Rai, Sardar Dyal Singh Majithia. The Swadeshi movement in particular inspired local businessmen and political figures to found banks of and for the Indian community. A number of banks established then have survived to the present such as Bank of India, Corporation Bank, Indian Bank, Bank of Baroda, Canara Bank and Central Bank of India.

NATIONALIZED BANKS IN INDIA Banking System in India is dominated by nationalized banks. The nationalization of banks in India took place in 1969 by Mrs. Indira Gandhi the then prime minister. The major objective behind nationalization was to spread banking infrastructure in rural areas and make available cheap finance to Indian farmers. Fourteen banks were nationalized in 1969. Before 1969, State Bank of India (SBI) was the only public sector bank in India. SBI was nationalized in 1955 under the SBI Act of 1955. The second phase of nationalization of Indian banks took place in the year 1980. Seven more banks were nationalized with deposits over 200 crores. List of Public Sector Banks in India is as follows:              

Allahabad Bank Andhra Bank Bank of Baroda Bank of India Bank of Maharashtra Canara Bank Central Bank of India Corporation Bank Dena Bank Indian Bank Indian Overseas Bank Oriental Bank of Commerce Punjab and Sind Bank Punjab National Bank 13

            

State Bank of Bikaner & Jaipur State Bank of Hyderabad State Bank of India (SBI) State Bank of Indore State Bank of Mysore State Bank of Patiala State Bank of Saurashtra State Bank of Travancore Syndicate Bank UCO Bank Union Bank of India United Bank of India Vijaya Bank

PRIVATE BANKS IN INDIA All the banks in India were earlier private banks. They were founded in the pre independence era to cater to the banking needs of the people. But after nationalization of banks in 1969 public sector banks came to occupy dominant role in the banking structure. Private sector banking in India received a fillip in 1994 when Reserve Bank of India encouraged setting up of private banks as part of its policy of liberalization of the Indian Banking Industry. Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive an 'in principle' approval from the Reserve Bank of India (RBI) to set up a bank in the private sector. Private Banks have played a major role in the development of Indian banking industry. They have made banking more efficient and customer friendly. In the process they have jolted public sector banks out of complacency and forced them to become more competitive.

Major Private Banks in India is:  Bank of Rajasthan  Bharat Overseas Bank  Axis Bank  Catholic Syrian Bank  Centurion Bank of Punjab  Dhanalakshmi Bank  Federal Bank  HDFC Bank  ICICI Bank  IDBI Bank  IndusInd Bank 14

         

ING Vysya Bank Jammu & Kashmir Bank Karnataka Bank Karur Vysya Bank Kotak Mahindra Bank SBI Commercial and International Bank South Indian Bank United Western Bank UTI Bank YES Bank

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RETAIL BANKING What has contributed to this retail growth? Let me briefly highlight some of thebasic reasons.

First, economic prosperity and the consequent increase in purchasing power have given a fillip to a consumer boom. Note that during the 10 years after 1992, India’s economy grew at an average rate of 6.8 percent and continues to grow at the almost the same rate – not many countries in the world match this performance.

Second, changing consumer Retail banking is, however, quite broad in nature - it refers to the dealing of Commercial banks with individual customers, both on liabilities and assets sides of the balance sheet. Fixed, current / savings accounts on the liabilities side; and mortgages, loans (e.g., personal, housing, auto, and educational) on the assets side, are the more important of the products offered by banks. Related ancillary services include credit cards, or depository services. Today’s retail banking sector is characterized by three basic characteristics: 1 · multiple products (deposits, credit cards, insurance, investments and securities); 2 · multiple channels of distribution (call centre, branch, Internet and kiosk); and multiple customer groups (consumer, small business, and corporate).

3 . What is the nature of retail banking? In a recent book, retail banking has been described as “hotter than vindaloo”1. Considering the fact that vindaloo, the Indian- English innovative curry available in umpteen numbers of restaurants of London, is indeed very hot and spicy, it seems that retail banking is perceived to be the in-thingin today’s world of banking.

DRIVERS OF RETAIL BUSINESS IN INDIA Demographics indicate vast potential for growth in consumption both qualitatively and quantitatively. India is one of the countries having highest proportion (70%) of the population below 35 years of age (young population). The BRIC report of the GoldmanSachs, which predicted a bright future for Brazil, Russia, India and China, mentioned Indian demographic advantage as an important positive factor for India.

Third, technological factors played a major role. Convenience banking in the form of debit cards, internet and phone-banking, anywhere and anytime banking has attracted many new customers into the banking field. Technological innovations relating to increasing use of credit / debit cards, ATMs, direct debits and phone banking has contributed to the growth of retail banking in India.

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Fourth, the Treasury income of the banks, which had strengthened the bottomlines of banks for the past few years, has been on the decline during the last two years. In such a scenario, retail business provides a good vehicle of profit maximisation. Considering the fact that retail’s share in impaired assets is far lower than the overall bank loans and advances, retail loans have put comparatively less provisioning burden on banks apart from diversifying their income streams.

Fifth, decline in interest rates have also contributed to the growth of retail Credit and increasing services in retailing of other financial solutions by generating the demand for these.

OPPORTUNITIES AND CHALLENGES OF RETAIL BANKING IN INDIA Retail banking has immense opportunities in a growing economy like India. As the growth story gets unfolded in India, retail banking is going to emerge a major driver.

How does the world view us? I have already referred to the BRIC Report talking India as an economic superpower. A. T. Kearney, a global management consulting firm, recently identified India as the "second most attractive retail destination" of 30 emergent markets.

The rise of the Indian middle class is an important contributory factor in this regard. The percentage of middle to high income Indian households is expected to continue rising.

The younger population not only wields increasing purchasing power, but as far as acquiring personal debt is concerned, they are perhaps more comfortable than previous generations. Improving consumer purchasing power, coupled with more liberal attitudes toward personal debt, is contributing to India's retail banking segment. Retail sector, which at present is in the nascent stage. Due to bundling of services and delivery channels, the areas of potential conflicts of interest tend to increase in universal banks and financial conglomerates. Some of the key policy issues relevant to the retail banking sector are: financial inclusion, responsible lending, and access to, long-term savings, financial capability, consumer protection, regulation and financial crime prevention.

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CHALLENGES FOR THE INDUSTRY AND ITS STAKEHOLDERS First, retention of customers is going to be a major challenge. According to a research by Reichheld and Sasser in the Harvard Business Review, 5 per cent increase in customer retention can increase profitability by 35 per cent in banking business, 50 per cent in insurance and brokerage, and 125 per cent in the consumer credit card market. Thus, banks need to emphasise retaining customers and increasing market share.

Second, rising indebtedness could turn out to be a cause for concern in the future. India's position, of course, is not comparable to that of the developed world where household debt as a proportion of disposable income is much higher. Such a scenario creates high uncertainty. Expressing concerns about the high growth witnessed in the consumer credit segments the Reserve Bank has, as a temporary measure, put in place risk containment measures and increased the risk weight from 100 per cent to 125 per cent in the case of consumer credit including personal loans and credit cards.

Third, information technology poses both opportunities and challenges. Even with ATM machines and Internet Banking, many consumers still prefer the personal touch of their neighbourhood branch bank. Technology has made it possible to deliver services throughout the branch bank network, providing instant updates to checking accounts and rapid movement of money for stock transfers. However, this dependency on the network has brought IT department’s additional responsibilities and challenges in managing, maintaining and optimizing the performance of retail Banking networks.

Specific challenges include ensuring that account transaction applications run efficiently between the branch offices and data centres.

Fourth, KYC Issues and money laundering risks in retail banking is yet Another

important issue. Retail lending is often regarded as a low risk area for money laundering because of the perception of the sums involved. Banks must also consider seriously the type of identification documents they will accept and other processes to be completed. The Reserve Bank has issued details guidelines on application of KYC norms in November 2004.

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THE COMPANY 1 Kotak Mahindra group was established in year 1985, as “Kotak Capital Management Finance Limited”

2 This company was promoted by Uday Kotak, Sidney A. Pinto and Kotak & Company

3 Industrialists Harish Mahindra and Anand Mahindra took a stake in year 1986 and that’s why the company changed its name to Kotak Mahindra Finance Limited

4 In February 2003 Kotak Mahindra Finance Ltd., the groups flagship company was given the license to carry on the banking business by RBI.(Section 22 in the Banking Regulation Act,1949). Thus it is “20 year old new bank”

5 Kotak Mahindra Finance is India’s first ever company to be converted into a bank

6 Partnering the bank in growth are the leading international players like Goldman Sachs(Investment banking and Equities), Ford Credit (Automobile Finance) and Old Mutual (Life Insurance).

7 Group has a net worth of around Rs 5,600 crores, employs around 17,100 people in its various businesses, distribution network across 344 cities and towns in India and offices in New York, London, Dubai, Mauritius and Singapore.

8 The group services around 3 million customer accounts, and Bank enjoys the trust and confidence of over 6 lakhs customers.

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THE JOURNEY SO FAR

GROUP MANAGEMENT  Mr. Uday Kotak  Mr. C. Jayaram

Executive Vice Chairman & Managing Director

 Mr. Dipak Gupta

OUR CORPORATE IDENTITY

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KOTAK RETAIL LIABILITIES A: SAVINGS ACCOUNTS B: CURRENT ACCOUNTS C: TERM DEPOSIT D: MUTUAL FUNDS E: INSURANCE F: SAFE DEPOSIT LOCKERS G: DEMAT H: TRADE SERVICES

SAVINGS ACCOUNT We have a number of variants of our savings accounts customized to suit your individual needs so pick the one that matches your requirements & sit back to enjoy the Kotak experience!

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 Ace Savings Account  Pro Savings Account  Edge Savings Account  Nova Savings Account  Classic Savings Account - available only in select locations  Easy Savings Account (No Frills Account)  Corporate Salary Accountz

ACE SAVINGS ACCOUNT Features & Benefits Free access at all domestic and international VISA ATMs You no longer have to worry about locating your Bank or Partner Bank ATM - Use the first VISA ATM that you spot, for free cash withdrawal or balance enquiry transactions.

So walk into any VISA ATM in India or abroad to withdraw cash or for balance enquiry.

Multiple access channels Access your account anytime through your land line, mobile phone or internet to get information on your account balance or track your transactions. You can even transfer funds through Phone Banking or Net Banking.

Financial payments facilitated through the savings account Use the free Kotak Payment Gateway to make online payments for your utility bills, credit cards, online trading of shares or even online shopping. All this at the click of a mouse!

Quick and easy funds transfer Transfer funds easily and with speed, to a beneficiary account at another bank. You can avail of this facility by walking into any of our branches or by simple logging on to Net Banking. You 22

also get a free multi-city cheque book so that money from your account is transferred to the beneficiary's account at any of our branch locations, in the fastest possible time.

Free banking transactions You can issue demand drafts or send cheques for collection anywhere in the country for no extra charge.

ActivMoney Earn better returns in your savings account, with our ActivMoney facility that automatically sweeps out idle funds, above a threshold, from your account into Term Deposits. These Term Deposits sweep back into your account to meet fund requirements when your withdrawals exceed the balance available in your account, thereby providing you maximum liquidity.

Free investment account Use the Net Banking facility to purchase/redeem mutual funds online while directly debiting / crediting your bank account. Further, you get a free investment account for tracking your investments with the Bank. This account provides you a consolidated view of all your mutual fund investments across schemes with updated returns status, latest NAV information and research reports.

Dedicated relationship manager You get a one point contact for all your banking related queries and transactions. Your relationship manager is qualified to help you with financial planning and sound investment decisions in order to meet your financial goals.

Family Savings Account The Kotak Ace Savings package allows you to extend the Kotak banking experience to three of your family members. Under this scheme you are eligible to open 3 Edge Savings Account with NMC waiver on all 3 accounts, so long as the AQB of your ACE account is maintained.

Online trading account Link your savings account to your online trading with Kotak Securities to enable transfer of funds from your bank account to your account with Kotak Securities and vice versa.

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PRO SAVINGS ACCOUNT Features & Benefits Unlimited Access Access your bank account at over 35,000 VISA and Cashnet ATMs in India and over 388,000 Merchant Establishments which accepts VISA credit/debit cards in India.

Multiple access channels Access your account through your phone, mobile phone or internet to get information on your account balance or track your transactions. You can even transfer funds through Phone Banking or Net Banking.

Free investment account You can open an investment account, and use the Net Banking facility to purchase/redeem mutual funds online while directly debiting / crediting your bank account. Besides this you get a consolidated view of all your mutual fund investments across schemes with updated returns status, latest NAV information and research reports.

Financial payments facilitated through the savings account Use our free Payment Gateway to make online payments for utility bills, credit cards, online trading of shares or even online shopping.

Quick and easy funds transfer Quick funds transfer to a third party account with another Bank is available across 15 locations through Net Banking. You also get a multi-city cheque book so that money from account is received by the beneficiary in the fastest possible time.

ActivMoney Earn better returns in your savings account, with our ActivMoney facility that automatically sweeps out idle funds, above a threshold, from your account into Term Deposits. These Term Deposits sweep back into your account to meet fund requirements when your withdrawals exceed the balance available in your account, thereby providing you maximum liquidity.

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Dedicated relationship manager You get a one point contact for all your banking related queries and transactions. Your relationship manager will also help you with financial planning and sound investment decisions.

Free banking transactions You can issue demand drafts or send cheques for collection on branch locations without any charge to your account.

Family Savings Account The Kotak Pro Savings package allows you to extend the Kotak banking experience to one of your family members. Under this scheme you are eligible to open 1 Edge Savings Account with NMC waiver, so long as the AQB of your Pro account is maintained.

EDGE SAVINGS ACCOUNT Features & Benefits Unlimited Access Access your bank account at over 35,000 VISA and Cashnet ATMs in India and over 388,000 Merchant Establishments which accepts VISA credit/debit cards in India.

Multiple Access Channels Access your account through your phone, mobile phone or internet to get information on your account balance or track your transactions. You can even transfer funds through Phone Banking or Net Banking.

Financial payments facilitated through the savings account Use our free Payment Gateway to make online payments for utility bills, credit cards, online trading of shares or even online shopping.

Quick and easy funds transfer 25

Quick funds transfer to a third party account with another Bank is available across 15 locations through Net Banking. You also get a multi-city cheque book so that money from account is received by the beneficiary in the fastest possible time.

Free investment account You can open an investment account, and use the Net Banking facility to purchase/redeem mutual funds online while directly debiting / crediting your Bank Account. Besides this you get a consolidated view of all your mutual fund investments across schemes with updated returns status, latest NAV information and research reports.

ActivMoney Earn better returns in your savings account, with our ActivMoney facility that automatically sweeps out idle funds, above a threshold, from your account into Term Deposits. These Term Deposits sweep back into your account to meet fund requirements when your withdrawals exceed the balance available in your account, thereby providing you maximum liquidity.

NOVA SAVINGS ACCOUNT Features & Benefits Unlimited Access Access your bank account at over 35,000 VISA and Cashnet ATMs in India and over 388,000 Merchant Establishments which accepts VISA credit/debit cards in India.

Multiple access channels Access your account through your phone, mobile phone or internet to get information on your account balance or track your transactions. You can even transfer funds through Phone Banking or Net Banking.

Financial payments facilitated through the savings account Use our free Kotak Payment Gateway to make online payments for utility bills, credit cards, online trading of shares or even online shopping.

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Quick and easy funds transfer Quick funds transfer to a third party account with another bank is available across 15 locations through Net Banking. You also get a multi-city cheque book so that money from account is received by the beneficiary in the fastest possible time.

Free investment account You can open an investment account, and use the Net Banking facility to purchase / redeem mutual funds online while directly debiting/crediting your bank account. Besides this you get a consolidated view of all your mutual fund investments across schemes with updated returns status, latest NAV information and research reports.

ActivMoney Earn better returns in your savings account, with our ActivMoney facility that automatically sweeps out idle funds, above a threshold, from your account into Term Deposits. These Term Deposits sweep back into your account to meet fund requirements when your withdrawals exceed the balance available in your account, thereby providing you maximum liquidity.

CURRENT ACCOUNT  NEO CURRENT ACCOUNT  EDGE CURRENT ACCOUNT  PRO CURRENT ACCOUNT  ELITE CURRENT ACCOUNT  ACE CURRENT ACCOUNT

EDGE CURRENT ACCOUNT Features and benefits 27

 Activmoney-Earn interest on idle balances automatically ‘swept out’ to TD!  Credit Access- unsecured overdraft up to Rs 10 lakhs.  Free 25 DD’s per month.  Free NEFT and RTGS.  Free payable at-par cheque book.  Free cheque collection for cheques above Rs 1 lakhs.  Free business Debit Card.  Free access at all VISA ATM’s anywhere in India.  Free cash deposit up to Rs 3 lakhs per month.  Home banking service.  Free Net Banking.  Multi-city Banking.  SMS Alerts service.  24x7 toll free phone banking service.

PRO CURRENT ACCOUNT Features and benefits  Activmoney-Earn interest on idle balances automatically ‘swept out’ to TD!  Credit Access- unsecured overdraft up to Rs 10 lakhs.  Free 50 DD’s per month.  Free NEFT and RTGS.  Free payable at-par cheque book.

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 Free cheque collection at all branches.  Free business Debit Card.  Free access at all VISA ATM’s anywhere in India.  Free cash deposit up to Rs 5 lakhs per month.  Free Home banking service.  Free Net Banking.  Multi-city Banking.  SMS Alerts service.  24x7 toll free phone banking service.  Free beat cheque pick –up service.

ELITE CURRENT ACCOUNT Features and benefits  Activmoney-Earn interest on idle balances automatically ‘swept out’ to TD!  Credit Access- unsecured overdraft up to Rs 10 lakhs.  Free 100 DD’s per month.  Free DD’s upto Rs. 10 lakhs per month payable at non branch locations.  Free NEFT and RTGS.  Free payable at-par cheque book.  Free cheque collection at branch locations.  Free business Debit Card.

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 Free access at all VISA ATM’s anywhere in India.  Free cash deposit up to Rs 10 lakhs per month.  Free Home banking service.  Free beat cheque pick-up service.  Free Net Banking.  Multi-city Banking.  Free SMS Alerts service.  24x7 toll free phone banking service.

ACE CURRENT ACCOUNT Features and benefits  Activmoney-Earn interest on idle balances automatically ‘swept out’ to TD!  Credit Access- unsecured overdraft up to Rs 10 lakhs.  Free unlimited DD’s payable at branch locations .  Free DD’s upto Rs. 30 lakhs per month payable at non branch locations.  Free NEFT and RTGS.  Free payable at-par cheque book.  Free cheque collection at branch locations.  Free business Debit Card.  Free access at all VISA ATM’s anywhere in India.  Free cash deposit up to 5 times of average balance maintained per month.

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 Free Home banking service.  Free beat cheque pick-up service.  Free Net Banking.  Multi-city Banking.  Free SMS Alerts service.  24x7 toll free phone banking service.

TERM DEPOSIT Features & Benefits Ease and convenience of operation Not a Kotak Bank customer and wish to apply for term deposit, online?

For the first time in India, New To Bank customer can also apply online for term deposit. If you are an existing customer, you can place a term deposit through Phone Banking or Net Banking. What's more, you can even renew this deposit by placing an instruction over phone. Needless to mention, he can do all this and more by walking across into any of our branches.

Liquidity through overdraft or sweep-in facility Your deposit will be available to you should you need them in case of an emergency.

You can avail upto 85% overdraft against your term by paying 2% above your deposit rate. This facility is available for deposits above Rs.50,000 for a tenure of 181 days or more. You can also choose to link your term deposit to your savings / current account, whereby if need be, your term deposit will automatically be encashed to meet your withdrawal requirement.

No penalty on pre-mature encashment In case your term deposit is pre-maturely encashed, you will earn interest at the rate prevailing on the date of deposit for the withdrawn amount.

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Nomination facility available You can avail this facility for each & every account that you open with us i.e. nominate different persons for different term deposit accounts. You can choose to change the nominee through a declaration in the appropriate form to revise the nomination during the term of the deposit. Incase you are availing the 2-Way-Sweep feature, nomination, if any, made by you in respect of the savings / current account for which you are availing this feature will be deemed to be the nomination for any sweep TD created pursuant to the ActivMoney feature availed by you.

MUTUAL FUNDS Our experienced research team analyses and researches the Mutual Funds available in the market, helping you make more informed decisions. Our recommendations take into account all relevant factors including the investment philosophy of the Asset Management Company, portfolio quality, risk-adjusted returns and market trends. The Mutual funds on our advisory list range form Debt to Equity funds and are drawn from top performing schemes of renowned Mutual Fund houses like Franklin Templeton, Kotak, Reliance, Prudential ICICI etc. Your Relationship Manager will recommend the funds that suit your investment objectives.

Key Features • • •

Assistance at every step of the investment process An experienced research team to analyze and research the Mutual Funds available in the market Portfolio assistance.

Products A) EQUITY SCHEMES B) DEBT SCHEMES C) BALANCED SCHEMES D) FUND OF FUND (FOF) SCHEMES

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E) EXCHANGE TRADE FUND (ETF) SCHEMES

EQUITY SCHEMES              

Kotak 30 Kotak midcap Kotak opportunities Kotak lifestyle Kotak contra Kotak tax saver Kotak global india Kotak mnc Kotak tech Kotak equity arbitrage fund Kotak emerging equity scheme Kotak global emerging market Kotak indo world infrastructure Kotak starkid facility

DEBT SCHEMES            

Kotak income plus Kotak bond Kotak bond short term Kotak liquid Kotak gilt savings Kotak gilt investments Kotak flexi debt Kotak fmp series Kotak floater long term Kotak floater short term Kotak twin advantage series iii Kotak wealth builder series i

BALANCED SCHEMES  Kotak balance  Kotak dynamic asset allocation

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FUND OF FUND(FOF) SCHEMES  Kotak equity FOF  Kotak flexi FOF series I  Kotak flexi FOF series II

EXCHANGE TRADE FUND(ETF) SCHEMES  Kotak gold ETF  Kotak PSU Bank ETF  Kotak Sensex ETF

INSURANCE We offer a range of carefully selected insurance policies across the entire spectrum of life insurance products. Our relationship managers will analyze your insurance needs and develop the solution that works best for you.

Kinds of insurance plans • • • • • • • • • • • • • • • •

Kotak Smart Advantage Plan Kotak Eternal Life Plans Kotak Headstart Child Plans Kotak Safe Investment Plan II Kotak Flexi Plan Kotak Easy Growth Plan Kotak Capital Multiplier Plan Kotak Term Plan Kotak Preferred Term Plan Kotak Child Advantage Plan Kotak Retirement Income Plan Kotak Retirement Income Plan (Unit Linked) Kotak Endowment Plan Kotak Money Back Plan Kotak Premium Return Plan Riders

KOTAK SMART ADVANTAGE PLAN Every step in your life brings with it new learnings. You are determined to make the best of it, so that you can look forward to a great future. How you shape your tomorrow 34

depends greatly on how you build on your today. Kotak Life Insurance introduces Kotak Smart Advantage, a great combination of investment with insurance, to put your savings to work today. It is a market linked plan with 100% premium allocations helping you accumulate wealth systematically, over the long-term.

This plan offers the following key benefits: • • • • • •

Guaranteed returns of up to 275% of your first year premium at maturity Assured bonus additions at regular intervals during the policy term to enhance your fund value 100%1 allocation of your premiums from second year onwards to maximize your earnings potential A unique fund offering you the maximum opportunity for growth Option to maximize protection for your loved ones 1Applicable for premium sizes of Rs.36,000 and above annually from second year onwards.

1

Applicable for premium sizes of Rs.36,000 and above annually from second year onwards.

KOTAK ETERNAL LIFE PLANS Kotak Eternal Life Plans are participating whole life plans that provide enhanced protection till the golden age of 99. The plans provide for a high cover at lower premiums, cash lump sum benefits at desired stage and a way to care for your spouse in the second innings of life. With guaranteed protection for life, opportunity to create wealth, and comprehensive cover options, these plans provide you with a perfect financial solution to suit your needs.

What can Eternal Life do for you? i. Provides you with lifelong protection which continues well beyond retirement to ensure that your loved ones remain secure, irrespective of the uncertainties in life. ii. Enables a high amount of insurance cover at affordable premiums which takes into account your growing responsibilities and keeps pace with your increasing needs. iii. Offers liquidity for planned and unplanned needs so that you have access to your money when you need it the most, adding to your comfort and security at important stages in life. iv.

Presents options and solutions that suit your personal preference which enables you to make a decision that is more suitable and beneficial for you.

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KOTAK HEADSTART CHILD PLANS Every child is different. Each has their own set of dreams and aspirations. As a parent you would like to provide your child with all the building blocks that could develop his or her potential to the fullest. This could mean extra coaching or tuition for talented children, special training or equipment for natural athletes or professional training for born singers. Headstart Child Plans - a specially tailored, cost-effective plan, aims to give your children the financial means to pursue his or her dreams and live them.

The plan offers the following advantages: •

• • • • •

Choice of 2 plan variants o Future Protect o Assure Wealth Maximizes wealth while providing protection Joint life option Save for 2 children with one plan Additional bonus units Flexible Withdrawal

KOTAK SAFE INVESTMENT PLAN II Kotak Safe Investment Plan II is a unit linked plan that combines the benefits of insurance and capital market returns into one. This plan from the stable of Kotak Life Insurance is a true reflection of the company´s essence: innovation that will benefit the investor. What makes investing in Kotak Safe Investment Plan II truly unique is that you enjoy a Guaranteed Maturity Value, with varying degrees of equity exposure depending on your risk appetite. So, if the market value of your units is higher, you reap the benefits with the peace of mind that whilst in a bear market your investment is underpinned by the Guaranteed Maturity Value. And there´s more, the returns are totally taxfree*.

KOTAK FLEXI PLAN There may be times when you wish there was an answer to your financial worries. A solution that allows you to take control of your investments. A way to provide for your family´s future goals and expenses, and to protect your family from the harsh uncertainties of life; be it death, disability or illness. Here is ´Kotak Flexi Plan´ which is designed to do just this. It comes to you with the option of investing in six professionally 36

managed funds, allowing you to allocate your investment in a combination of one or more funds, switch between them and take charge of your investments. The plan aims to earn efficient returns over the long term and helps you plan for your financial goals, with the comfort of a Guaranteed Maturity Value. More importantly, it ensures that your loved ones are protected, if any unfortunate events were to take place…a plan that gives you complete control.

KOTAK EASY GROWTH PLAN Kotak Easy Growth Plans are single premium, market linked insurance plans that keep pace with your ever growing success. It not only helps you save for the future but also lets you reap rich benefits from the investments of your choice. The undisputed advantage of these plans, is its simplicity. This simplicity stems from our clear understanding of what would appeal to a customer who is looking for a hassle free investment option.

KOTAK CAPITAL MULTIPLIER PLAN The Kotak Capital Multiplier Plan is a participating plan that is built in such a way that it allows your money to multiply, and gives you the flexibility of using this money the way you need it, in regular withdrawals. This is an endowment plan, which is very flexible, and has a lot of other in-built benefits.

KOTAK TERM PLAN Kotak Term Plan is a pure risk product that aims to cover your life at a nominal cost.

You may want to take this plan to cover your outstanding debts like a mortgage, a home loan etc. Since this is a pure risk cover product, there are no maturity benefits payable on survival. This is a non-participating plan.

KOTAK PREFERRED TERM PLAN The Kotak Preferred Term Plan is designed to provide you with reduced premium rates for a sum assured of Rs.10 lakhs and above. Only Males over the age of 18 years, who do not use tobacco in any form. And females over the age of 18 years are eligible for this plan.

KOTAK CHILD ADVANTAGE PLAN The Kotak Child Advantage Plan is an investment plan designed to meet your child´s 37

future financial needs. It´s a plan that gives your child the "azaadi" to realize his dreams.

The plan is a participating plan with a 15-day free look period.

KOTAK RETIREMENT INCOME PLAN The Kotak Retirement Income Plan is a savings plan designed to meet your postretirement needs. It is a plan that gives you "Jeene ki azaadi". It gives you the choice to remain independent even after retirement. The Kotak Retirement Income Plan is a participating plan.

The plan comes in two forms: (i) With Cover (ii) Without Cover.

KOTAK RETIREMENT INCOME PLAN (UNIT LINKED) How well you save and invest today will make all the difference tomorrow between having to work and choosing to work. There is no better time than the present to plan for what should be the best years of life - your retirement. By the time you retire, costs of living would have increased substantially making even the most basic commodities like milk and vegetables costlier by probably five times. Medical costs would have doubled or more.An ideal retirement solution is the one that gives you complete flexibility and peace of mind, not only while you save for your retirement but also after you retire. To help you plan towards the golden years of your life, we present to you the Kotak Retirement Plan (Unit-Linked).An investment plan designed to secure your future, it assures that even though you have stopped working, your income does not. It is offered to you in three versions - Regular Premium, With Cover and Without Cover, in addition to a Single Premium version. The regular premium options come with the Kotak "Seal of Guarantee"@. These plans have been designed to ensure that your money earns you handsome returns, safe from the vagaries of the capital market, so that you can retire comfortably and securely. Please note that in these plans, the investment risk in the investment portfolio is to be borne by the policyholder. However, Kotak Life Insurance offers you a Basic Sum Assured/ Guaranteed Maturity Value on the Regular Premium versions of this plan to safeguard against the downside risk of falling markets.

KOTAK ENDOWMENT PLAN Kotak Endowment Plan is a protection plan that covers your life and at the same time ensures that your money does not lie idle. It invests a portion of your premium in financial instruments and ensures a considerable growth in savings. This is a participating plan (with profits).

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KOTAK MONEY BACK PLAN The Kotak Money Back Plan not only covers your life, it also assures you a certain percent of the sum assured as cash payment at regular intervals of every 5 years. It is a savings plan with the added advantage of life cover and regular cash inflow. This plan is ideal for planning special moments like a wedding, your child´s education or purchase of an asset etc. This is a participating plan (with profits).

KOTAK PREMIUM RETURN PLAN This plan is a sure and secure insurance option without the hassles or worries of a conventional insurance plan. With minimal paperwork and procedures, you get the dual benefit of a risk cover and savings. At the end of the term, a minimum of the premiums paid by you will be returned depending on the option you choose. In other words, this is a term plan that makes financial sense by offering maturity benefits as well.

RIDERS Every person has a different need and we at Kotak Life Insurance recognize this. To give you the flexibility to customize and enhance your cover, we offer a set of riders which you may opt for along with your basic policy and shape your policy to suit your individual needs. The riders may be availed of at the time of purchasing the plan, at a nominal cost. The maximum amount of benefit you can avail is equal to the basic sum assured. The aggregate premium on all value-adds should not, however, exceed 30% of the basic premium.

SAFE DEPOSIT LOCKERS Kotak Mahindra Bank offers you Safe Deposit Locker facilities which can be utilized to safe keep your important documents, jewellery and other valuables.

Special Features of our Locker Facility Easy availability and access: You can plan your visit and access your locker on all working days during banking hours.

Convenient sizes: Choose your own locker size, from a range of options - small, medium and large.

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Hassle-free payment: You can set-up standing instructions on your Savings Account, to pay your annual locker rent. Our Locker Facility enables you to avail Locker in your home branch without the constraint of maintaining a linked deposit. You can also opt for Nomination facility.

Nomination for Safe deposit Lockers    



Nomination facility is available to Individual/ Joint hirer/s of Safe Deposit Locker.

Nomination can be made in favour of only one individual.

Safe deposit lockers hired in the names of a minors, the nomination shall be made by the natural guardian/s or court appointed guardians.

In the event of the death of a locker-hirer/s for which there is a nomination on record the contents of the locker will be released to the nominee of the hirer, without insistence on a succession certificate or probate of the Will from the legal heirs of the deceased customer.

In case of death of a sole locker-hirer without nomination, but there is a probated will available; access will be given to the Executor / Administrator.

DEMAT We offer streamlined, efficient depository services that allow you to hold your shares in convenient, "demat" formats and leverage opportunities in the stock-market when you spot them.

Our services include:  Dedicated and trained Customer Care Officer to handle and answer all your queries.  Highly competitive service charges. For the current charges on our demat services.  Three in one account – Demat, Trading, Bank have all in one account.

We also cater to the debt requirements of companies, including the issue of Commercial Paper, Certificate of Deposits, etc. We also provide a composite Demat account that can hold Equity shares as well as Government Securities, Bonds etc.

Documentation In order to open a Demat account, you will need to provide/produce the following documents 40

Account Opening form • • • •

Duly filled Client Relationship Form (Individual or Corporate), Demat Account Opening Form (Individual or Corporate) Duly executed and stamped Depository Participant Client Agreement supplied by the Bank A photograph of each holder/signatory to be pasted on the form and signed across.

Nomination form (optional—applicable only for individual accounts. HUF & Corporate accounts cannot give nomination. )

Note • • • • •

Copy of PAN card is mandatory for all categories of Accounts. In case of Joint holders all the joint holders must provide PAN Card copy Proof of address required for both Indian address and foreign address for NRI Accounts NRI Repatriable Account must provide Copy of General Permission issued by RBI/Bank, till then the standing instruction in the Account will be “N” The HUF accounts can be opened in the name of and operated by the Karta only.

Please carry all the original documents while opening the Demat Accounts to enable the Branch to verify them.

Identity Proof Individual Accounts • • • • • • •

Pan Card Valid Passport Voters ID Valid Driving License Photo Debit/Credit Card issued by Banks College ID card (valid till the applicant is a student) Identity Card/Doc issued by Govt, Statutory/Regulatory Authorities, Scheduled Commercial Banks, Public Financial Institutions, Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council etc. to their Members.

Address Proof 41

• • • • • •

Voters ID Utility Bills--not more than 2 months old from Date of Bill( Telephone bill- only land line bills are acceptable ) Valid Passport /Valid Driving License Leave & License Agreement/Sale Dees ---only Registered copy College ID Card (valid if the applicant is a student) Identity Card/Doc issued by Govt, Statutory/Regulatory Authorities, Scheduled Commercial Banks, Public Financial Institutions, Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council etc. to their Members.

Corporate Accounts • • • • • •

PAN Card copy of the Corporate Board Resolution - Account Opening and Mode of operation List of Authorized Signatories with specimen signatures Photograph of authorized signatories signed across Memorandum and Articles of the company Introduction of the corporate by bank

Corporate Accounts • • • • • •

PAN Card copy of the Corporate Board Resolution - Account Opening and Mode of operation List of Authorized Signatories with specimen signatures Photograph of authorized signatories signed across Memorandum and Articles of the company Introduction of the corporate by bank

Address Proof • • •

Document registered with Registrar of Companies.

Acknowledgement copy of IT Return.

Registered Leave and licnese Agreement or Agreement for Sale.

Charges •

Kotak Mahindra Bank, as a Depository Participant with NSDL, caters to a wide cross section of the country's investing population.

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•

We have designed tariff plans that address the needs of all categories of investors in the capital market. At one end, we have a general tariff for clients who do not transact too frequently. At the other end of the spectrum, we have schemes for frequent traders with high transactions. Here again we have differential tariffs for different sub-brokers.

COMPARATIVE ANALYSIS OF DIRECT BANKING SERVICES

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KOTAK DIRECT BANKING  Net Banking  Mobile Banking  Kotak Payment Gateway  Phone Banking  ATM Network  SMS Banking  Alerts NET BANKING Kotak Mahindra Bank's Net Banking service brings you the timeless world of instant banking. It is quick and easy, available to you 24X7 and it's absolutely free! It gives you instant access to your Banking Accounts, Demat Accounts, Investment Accounts, netc@rd and Insurance Accounts. In addition you can transfer money, pay your bills, pay for your online shopping, make subscription payments and more. And all this comes to you on a robust and secure technology platform.

Features: Net Banking gives you a host of services, giving you complete control of your accounts:  View account balance, account activity, place standing instructions and cheque status.  Open a Term Deposit.  Transfer funds online between your/third party accounts with Kotak Mahindra Bank or any other bank account supported by RBI NEFT system.  Place request for a cheque book, debit card PIN or payment gateway registration.  View securities available for Demat.  View current Mutual Fund holdings, Buy and redeem Mutual Funds online.

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 Shop online at over 3000 websites, make utility bill payments across more than 60 companies and 42 cities.

BANKING ACCOUNTS

Accounts Services  Get details of your combined balance across your Accounts and Term Deposits.  View account balance, account activity, uncleared fund details and cheque status.

Term Deposits Services  Open a Term Deposit or Inquire Term Deposit rates .  View details of all your term deposits, interest, tenures, etc .  Request for a Term Deposit Statement .

Payments Services  Transfer funds between your own accounts or to any accounts with Kotak Mahindra Bank or with any other Bank* which participates in RBI NEFT scheme.  For regular transfer of funds between your accounts or accounts of any other person, you can set up Standing Instructions for direct transfer into account , or request for sending Banker Cheques to the selected address.  For easy reference, maintain a list of beneficiaries. Next time you need to send money, you can just select the beneficiary and the other details will be automatically updated.  RTGS on Net – to transfer amount greater than or equal to rupees one lakh, use RTGS on Net. Money can be transferred to account held with any bank’s branch which participates in RBI RTGS. To avail of this service, submit RTGS on Net registration form to your nearest Branch. Please contact your branch for RTGS on Net registration forms and Beneficiary Registration forms. * Service available in cities serviced by RBI NEFT. Cheque Related service Service  Order a cheque book .

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 Inquire specific cheque status.  Place stop cheque instructions.

Request Statement  Saving or Current: Request physical statement for saving or current account. The Statement will be sent to your mailing address as per our records. Charges as applicable will be debited to your account.  Term Deposit: Request physical Term Deposit Statement. The same will be sent will be sent to your mailing address as per our records within 3 working days.

Charges as applicable will be debited to your account.

Additional Features  Use TDS Inquiry to get information on tax deducted for the previous and current financial year.  Inquire the latest exchange rates.

DEMAT This section provides access to view your Demat account details. You can also trade online in these securities by opening a trading account with Kotak Securities Ltd. details.

Account Services  View account activity, billing details, holding details.  Inquire transaction status, Demat status of securities.

Requests  Place an online request for account statement, Share holding details or billing.  Place a request for Pledge Forms or Client Master Details.

Additional Features  In case you want to convert your existing shares into Demat format, you can view securities available for Demat.  You can view the details of your transactions including settlement date, pay in date, pay out date using the View Settlement calendar option.

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INVESTMENTS This section enables you to view and purchase/redeem Mutual Funds online and other details of your investments with us.

Account Services  Keep track of your investments online - view account details, transaction details and current NAV, percentage gain/loss and IRR.  Get details of investments by Asset Class or Fund Name.

Transaction Services  Purchase/redeem Mutual Funds online.  Place Standing Instruction for auto debit of your account and investments in the selected fund.

Requests  Check status of your Buy/Sell requests.

Other Features  Get the latest NAVs.  Get advisory services and industry updates on a continuous basis.

NETC@RD This is a one time use virtual card which enables you to shop online in a secure way on any website that accepts VISA cards, in a secure way. netc@rd Usage  Generate your netc@rd by either logging onto Net Banking or using small software application - netc@rd QuickPay - installed on your computer.  Cancel cards if you do not wish to use them.

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Transaction Services  View card details including the status of the card, card amount, create date, expiry date  View Transaction details including the card number, merchant name where the card was used and settlement amount.

KOTAK BILLPAY Kotak BillPay is an Electronic Bill Presentment and Payment Service. A secure and hassle free way to pay your bills!!  Kotak BillPay is a simple, convenient and secure way of managing your bill payments from anywhere, anytime .  You can pay your utility bills (telephone, electricity, mobile, etc.), insurance premia, subscriptions to magazines, taxes or make donations.  Kotak BillPay offers you the flexibility of making regular payments by registering the biller or making one time / ad hoc payments using the 'Instant Pay' option.  For registered billers, you will be able to view the bill amount and due date.  You can pay your domestic Visa Credit Cards bills/ transfer funds to any domestic Visa Debit Card using Visa Money Transfer.  Kotak BillPay offers you “AutoPay” wherein you can register for automatic payments from your account. Payments will be scheduled and processed 4 days prior to the due date/Payment date specified by the customer.  You can even pay your Direct Tax through Kotak BillPay .  You can even view your Bill and Payment History .  Additionally, you will also receive Alerts via Email/SMS for any biller addition/deletion, receipt of new bill and status of bill payments and even AutoPay alerts.

To avail of Kotak BillPay, Simply login to Net Banking and click on the BillPay option or call up our 24hrs Customer Contact Centre or walk into your nearest Kotak Mahindra Branch.

This service is Free of Charge

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List of Billers Type of Biller Utility Payments

Biller Name Airtel Broadband Services & Telephone Airtel Mobile

Andhra Pradesh Central Power Distribution Co. Ltd. Bangalore Electricity Supply Company Ltd (BESCOM) BEST BPL Mobile Communication Limited BSES Rajdhani BSES Yamuna BSNL Ahmedabad BSNL Bangalore BSNL Chandigarh BSNL Faridabad BSNL Goa BSNL Gurgaon BSNL Kalyan BSNL Ludhiana BSNL Nagpur BSNL Pune BSNL Surat CESC Hyd Metro Water IDEA Cellular

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Locations available Chennai, Delhi, Karnataka, Madhya Pradesh, Mumbai AndhraPradesh,Chennai, Delhi, Gujarat,Karnataka,Kerala, Kolkata,MadhyaPradesh, Maharashtra, Mumbai, Punjab, Uttar Pradesh Andhra Pradesh Bangalore Mumbai Maharashtra, Mumbai Delhi Delhi Gujarat Karnataka Punjab Haryana Maharashtra Haryana Mumbai Punjab Maharashtra Maharashtra Gujarat Kolkata Andhra Pradesh AndhraPradesh, Delhi, Gujarat, Haryana,HimachalPradesh, Kerala,MadhyaPradesh, Maharashtra,Rajasthan

IDEA Cellular (UP East) In2Cable Mahanagar Gas MSEB MPSEB [Bhopal] MTNL MTNL Dolphin MTNL Garuda NDPL Reliance Energy Reliance Infocomm Ltd. RPG Cellular Spice Spice Communications Tata Indicom

TATA Power Torrent Power Ahmedabad Torrent Power Surat Vodafone

Donations

Cancer Patients Aid Association Childline India Foundation CRY- Child Rights And You HELPAGE National Association For The Blind PETA PRIDE SAVE ShreeSiddhivinayakTemple Trust WISE 50

Uttar Pradesh Mumbai Mumbai Mumbai,Aurangabad,Kolhapur, Nashik, Nagpur, Pune Madhya Pradesh Delhi, Mumbai Delhi, Mumbai Mumbai Delhi Mumbai All India Chennai Punjab Karnataka Andhra Pradesh, Chennai, Delhi, Gujarat, Haryana, Himachal Pradesh, Karnataka, Kerala, Kolkata, Maharashtra, Mumbai, Orissa, Punjab, Rajasthan, Tamil Nadu, West Bengal, UP East, UP West, Madhya Pradesh Mumbai Gujarat Gujarat Andhra Pradesh, Chennai, Delhi, Gujarat, Karnataka, Kolkata, Mumbai, Punjab, Rajasthan, Uttar Pradesh All India

Insurance

Subscriptions

AVIVA Life Insurance Birla Sun Life Insurance ICICI Pru Life Insurance Kotak Life Insurance Life Insurance Corporation MAX NEWYORK Life Insurance METLIFE TATA AIG Life SBI Life Insurance

All India

India Today Readers Digest Wisden Asia Cricket

All India

Get Money Receive funds from any non Kotak Bank Account to your Kotak Bank account using RBI’s ECS facility absolutely FREE.  Registration to be done on Net Banking or at our nearest bank branch to avail Get Money service.  Debit Bank account details (ECS Debit Mandate Form) need to be verified by Debit Bank. This verification / lodgment process takes up to a maximum of 25 days from date of submission of ECS Mandate Form to our nearest bank branch.  You can either receive funds on Ad-hoc basis (one-time) or can set up a Standing Instruction (SI) to receive funds on regular basis, post successful activation of Get Money registration. You also have the option to modify or delete the Standing Instruction.  Get Money funds transfer requests can be given on Net Banking, 24 Hrs Customer Contact Centre or our nearest bank branch.  You will receive Email and SMS alerts on the registered email ID and Mobile number with the bank for all the events on Get Money.  You can even view details of your pending transfer requests and transfer history post logging into Net Banking.  You can register multiple Bank accounts as debit bank accounts under the Get Money service.

Requests This section enables you to manage your account by modifying your account access 51

and account details. The various options available under this section are as follows:  Register for Payment Gateway Service - with payment gateway you can shop online over more than 3000 websites, make utility bill payments across more than 60 companies and 42 cities, pay insurance premium, pay for magazine subscriptions, make donations to charitable and religious institutions, transfer money to Kotak Securities for margin money, Settlement transfer or IPO funding, transfer money to your Kotak commodities account for investment in commodities and use Visa Money Transfer facility to pay your credit card bills or transfer money to any VISA debit card across the country.  Debit Card request - report for lost/stolen debit cards, request for new Debit Card PIN, change your Debit Card primary account or de-link accounts from your Debit Card.  Account related requests - Request for Balance/Interest certificate.  Do Not Contact request - register your self under this section to discontinue receiving marketing related calls from the bank.

Profile  Update your profile whenever there is change of contact details. This will help you in receiving timely information from the bank.

Mail  This section provides you a secure mail service to contact the bank with your complaints/suggestions. You can also place your "Home Banking" requests in this section.

MOBILE BANKING You can experience the benefits of online banking anywhere and anytime, without the need for a computer. All this absolutely FREE*! Using the service, you can access your bank accounts and investment accounts at your fingertips, anytime, anywhere. All this convenience comes to you on a secure and user friendly GPRS-based Mobile Banking platform.

Mobile Banking Features 52

         

Menu driven service – no need to remember complex codes.

Security through 128 bit encryption.

Check your account balances for Current, Savings & Term Deposit accounts View your account activity Transfer funds between your accounts or other accounts in Kotak Bank Purchase Mutual Fund units Redeem Mutual Fund units Report loss/theft of Debit Card and request for replacement Check status of your Cheque instruments Request issue of new Cheque book

What you need to access this service ?  A Kotak Mahindra Bank account  A Java-enabled handset  An active GPRS connection (Advanced GPRS recommended) from your service provider  Registration for Net Banking and a Net banking password  Activation Key - the Activation Key is generated on first login.

Security Features Kotak Mobile banking platform uses secured Https protocol for communication between the mobile client and the mobile server. Protected by the most stringent security systems, Kotak Mobile Banking allows you to transact over a completely secure medium. All your transactions travel via 128-bit SSL encrypted medium, the highest level of security on the network. The servers are protected with firewalls that make unauthorized access impossible.

Downloading the Application All you need to get started using Kotak Mobile Banking is to download the application by sending K MOBILE <Last 4 digits of your CRN> as SMS to 5676788. Please note you need to send the message from the mobile number you have registered with the bank. You can also call our 24 Hrs Customer Contact Center for downloading Kotak Mobile Banking application. You would be receiving the link to download the application on your mobile number registered with the bank. Please make sure that you have updated your current mobile number with us.

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Registration Access to Kotak Mobile Banking will be granted once you register your Activation Key (which will be displayed on your handset) with us. To activate Mobile Banking on your handset, please call our 24 Hrs Customer Contact Center at our toll free number - 1800 116022 (North India) or 1800 226022 (Rest of India) .

‘*Mobile Banking is offered to our customers absolutely FREE. There are no charges levied by us for accessing this service. However, please note that you will need to pay for the GPRS subscription charges as levied by your Mobile phone service providers.

User Guide To download Kotak Mobile Banking, SMS K MOBILE <Last 4 digits of CRN> to 5676788. After installation of the application please run the same to access your account and follow the instructions below to familiarize yourself with the application.

1) When you run the application, the login screen will appear. Enter your Net Banking User ID (your Customer Relationship Number as mentioned on your Kotak Debit Card) or Net Banking Nick Name and your Net Banking password.

2) After entering your username and password press “Login” which will display an Activation Key for your handset. Please note the Activation Key being displayed on your screen and call our 24 hrs. Customer Contact Center at our toll free numbers- 1800 116022 (North India) or 1800 2256022 (Rest of India) to activate this service. Our Customer care officer will register the Activation Key. 3) Now Login again to start using Kotak Mobile Banking.

4) The Main Menu shows the following options: a) Select Banking to transact on your banking account. b) Select Investments to purchase or redeem your Mutual Fund units. c) Select Password to switch to a new password.

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d) Select Contact Us to get our contact details. e) Select Logout to sign out of the system.

5) Banking Menu shows the following options: a) Select Acct. Balance to get details of the balance in your bank account b) Select View TD Accts. to view details of all your term deposits, interest, tenures etc. c) Select Acct. Activity to view last 10 transactions in your account. d) Select Req. Stmt. to get an e-mail account statement for a selected period. e) Select Payments to transfer funds between your own accounts in Kotak Bank or third party accounts in Kotak Bank. f) Select Cheque Requests to order a new chequebook or inquire specific cheque status. g) Select Report Loss of Card to hotlist a card and get a replacement for the same.

6) Investments Menu shows the following options: a) Select Invest. Acct. to view holdings in your portfolio. b) Select Redeem to sell mutual fund units in the schemes held in your portfolio. c) Select Last 5 NAV to view the last 5 days NAV of schemes held in your portfolio. d) Select NAV Search to retrieve the NAV of a scheme held in your portfolio by typing a keyword.

KOTAK PAYMENT GATEWAY Kotak Payment Gateway enables you to shop online at over 3000 websites, make utility bill payments across more than 60 companies and 42 cities, pay insurance premium, pay for magazine subscriptions, make donations to charitable and religious institutions, 55

transfer money to Kotak Securities for margin money, settlement transfer or IPO funding and use Visa Money Transfer facility to pay your credit card bills or transfer money to any VISA debit card across the country. Kotak Payment Gateway is an Internet based facility using which you can pay online merchants by debiting your selected Bank account.

Online Shopping This service enables you to make purchases across various online shopping sites offering gifts, flowers, airline tickets, exclusive designer wear, jewellery, latest electronic gadgets / household items, subscription to books / periodicals, registration to matrimonial / educational sites or astrology services and much more. You can now make Online Payment towards your Utility Bills, Insurance premium, Donations, Mutual Fund Investment. You can also book travel tickets and enjoy entertainment services by visiting the merchant’s website.

Online Trading This service enables you to transfer money instantly to your account with Kotak Securities, for funding your margin money or funding your IPO account. An account with Kotak Securities enables you to buy/sell securities online. This gives you the power of any where anytime trading.

VISA Money Transfer This service enables you to make payments for your VISA credit cards or transfer money to any VISA Debit Card. So no need to write cheques to pay credit card bills or transfer money.

PHONE BANKING We have a 24 hrs Customer Contact Center to offer you personalised service round the clock. Just pick up the phone and call us on at our Toll Free number 1800 116022 (North India) OR 1800 226022 (Rest of India). If you are calling from abroad, you may call +91 22 6600 6022. Whether it is something as urgent as a stop payment or you simply want to know your balance just give us a call. Our toll free number gives you access to your account, from anywhere... anytime. And what's more, this facility comes to you absolutely free of cost!

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Powered By:  PIN Security Automated identification process when you use our 24 by 7 Phone Banking service will help save your call time as well as give you more security, as you will be validated by using a 6 digit Phone Banking Personal Identification Number (PIN) that should be known to no one but yourself. Accessing Phone Banking is easy. All you are required to do when you call us, is to enter you Customer Relationship Number followed by the '#' key, and validate it by entering your Phone Banking PIN. Once done successfully, you will be able to speak with our Customer Care Officer who will be glad to assist you in your queries or transactions.

 PIN Change If you are a first time caller, you will prompted by the system to change your Phone Banking PIN to one of your choice, after you've been successfully identified by the system. We request you to change your PIN accordingly to help ensure that your account information is not available to anyone but you.

Additionally, you have the option of changing your Phone Banking PIN directly, at your convenience, by dialing "5" on our Main Menu when you call us.

 PIN Generation / Regeneration For all our customers who haven't had the opportunity to register themselves for Phone Banking, or those who've have forgotten the Phone Banking PIN allocated to them, our Customer Care Officers will gladly enable you for your access immediately with your consent. All you will be required to do is ask for your access or we ourselves will offer to do so.  Customer Care Officers Our Customer Care Officers are available 24 by 7 to assist you in your queries or transactions that you may wish to conduct on your account. You may reach a Customer Care Officer anytime during your call by dialing "0".

In addition to the existing services available over Phone Banking such as:  Enquire on your account details - your balance, account activity, uncleared fund details and cheque status.

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    

Enquire on the latest interest and exchange rates.

Request for fund transfer* between your accounts at Kotak Mahindra Bank.

Open a term deposit or get details of all your term deposits .

Initiate standing instructions or place stop cheque payment instructions.

Request a cheque book and account statements.

You can give us financial instructions through our Phone Banking service based on your account operating mandate, i.e. if you have a single or unconditional signing authority on your account, you can transact on your accounts through the phone.

Demat accountholders can avail of the following Services through Phone Banking:  Request for a Demat transaction or holding statement.  Enquire about your transaction or holding details.  Request for a Demat Instruction Slip booklet to be sent to you.

Investment accountholders can avail of the following Services through Phone Banking:  Enquire on your account and transaction details  Current NAV details of your investments  Request a statement of account  Purchase and redeem investments online  Check the status of your purchase and redemption requests  Purchase / Redemption of Mutual Fund units  Third Party Funds Transfer to other accounts within our Bank**  Registration for Mobile Banking / Net Banking.

ATM NETWORK Our strategically located and constantly growing ATM network brings the bank within your easy reach. The state of the art touch screen Kotak Mahindra Bank ATMs are part of the Visa/Plus and Cashnet ATM network. That means you can withdraw cash from our ATM Network with any International and Domestic Visa/Visa Electron/Plus Credit 58

Cards/Debit Cards.

“Total number of ATMs : 349”

Services available 24-hour access to cash.  Transfer funds between accounts.  View Account Balances and Mini Statement.  Pin Change option. 

SMS BANKING Kotak Mahindra Bank's SMS Banking service enables you to access your bank account, investment account and demat account on your Mobile Phone. Now get latest update on your account balance, salary credits, large debits, large credits, holding value and much more, on your mobile anytime. It is quick and easy, available to you 24X7 and it's absolutely free!

Simply send an SMS to 9971056767 or 5676788 to get the details for following updates.

SMS Commands Banking Account Balance Inquiry Last 3 Transactions Last 3 months statement on email Statement on email for a particular month in the current financial year Statement on email for any particular period Cheque Status Inquiry New Cheque Book Request Investment Accounts Know Your Account No. Holding Value Demat Accounts Know Your Account No. Holding Value Locator Know the nearest ATM Know the nearest Branch

K BAL B K TXN B K STMT B K STMT B E K STMT B F G K CHQSTATUS B C K CHQBOOK B K MFACCT A K MFBAL X K DPACCT A K DPBAL Y K ATM Z K BRANCH Z

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PIN Regeneration Net Banking Phone Banking Debit Card Debit Cards Activation of Debit Card for use at Merchant Establishments

K NETPIN A K PHONEPIN A K DEBITPIN D K POSACT D

A - Last 4 digits of Customer Relationship Number B - Last 4 digits of Account Number C - Complete Cheque Number D - Last 4 digits of Debit Card Number E - First 3 letters of the month F - Start period. First 3 letters of the month followed by last 2 digits of the year (Eg: For September 2007 please mention as SEP07) G - End Period. First 3 letters of the month followed by last 2 digits of the year (Eg: For February 2008 please mention as FEB08) X - Last 4 digits of Investment Account Y - Last 4 digits of Demat Account Z - 6 digit Postal Pincode.

Please Note: You can send the SMS in either upper case (Capital letters) or lower case (small letters) i.e. K BAL and k bal, both will help you to know your account balance  The SMS commands contain blank spaces which should be kept when sending SMS. There are 2 blank spaces, one after ‘K’ and the other after the code say BAL.  Please use only the mobile number which has been registered to use the SMS Banking & Alerts' facility. For your safety, we will not accept requests from any other mobile number.  PIN regeneration requests will be accepted through SMS, however New PIN will be sent to your registered communication address via post only. 

“SMS Banking is available for registered customers only”.

ALERTS

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You can subscribe for automatic updates for your account on either your mobile or email. These alerts are sent on happening of a particular transaction. For example if your balance falls below the Average Quarterly Balance, or if there is a large credit into your account.

List of Alerts:  Large Debit Alert.  Large Credit Alert.  Balance below Average Quarterly Balance Alert.  Periodic Bank Account Balance - Daily/Weekly (Sent every Monday).  Standing Instruction (SI) Failure Alert.

Free service!*

Please Note:  You need to subscribe/ register for these alerts.  These Alerts will be sent over SMS and/or Email as requested by you.  You can select the Alerts that you wish to get and the mode (SMS and/or email).

ICICI DIRECT BANKING    

NET BANKING MOBILE BANKING PHONE BANKING ATM NET BANKING

Net Banking Features: 61

 Balance Enquiry and Statement Check out your last 10 transactions in your bank account with real-time balance.  Transaction History Check out past transactions from the date of account opening.  Transfer Funds Online Transfer funds to any ICICI Bank account in India as well as to non-ICICI-Bank accounts in over 100 cities across India.  Card-2-Card Fund Transfer Send money to over 27 million Visa Debit Cardholders or Credit Cardholders across 150 cities in India.  Use your Debit Card Online Your Internet Banking User ID and password is required to use your VISA Debit Card online to shop, buy tickets, pay bills and more.  Pre-paid Mobile Recharge Recharge your pre-paid mobile online anywhere, anytime in just a few minutes.  Pay your Utility Bills Pay bills to providers of utility services like electricity, telephone and post-paid mobiles. You can also pay your insurance premiums and ICICI Bank Credit Card dues.  Send a Smart Money Order Send a money order anytime and get it door-delivered to any destination in India .  Open Fixed Deposits and Recurring Deposits Apply online to open Fixed Deposits and Recurring Deposits.  Order a Demand Draft / Pay Order Order a Demand Draft to be issued from your ICICI Bank account. The Demand Draft / Pay Order will be sent to your registered address.  Subscribe for Mobile Banking Subscribe to Mobile Banking Alerts and Requests for banking on the move.  Request a Cheque Book The cheque book is delivered to your communication address upon request.

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 Stop Payment Request Issue instructions to stop payment of a particular cheque.  Request a Debit Card Apply online for an ATM/Debit Card.  Monthly Bank Account Statement by E-mail Subscribe to free monthly Bank Account statements to be delivered to your email address.  Re-issue/Upgrade of ATM/Debit Card Get your lost ATM/Debit Card re-issued or upgrade your current ATM/Debit Card.  Link Bank Accounts to ATM/Debit Card Link your multiple ICICI Bank accounts to a single ATM/Debit Card.  Renewal / Premature Closure of FD/RD Renew your current Fixed Deposit account or request its premature closure.  De-block/Activate ATM/Debit Card Activate your hot-listed (blocked) ATM/Debit Card.  Request a Duplicate Physical Bank Statement Get a physical copy of your Bank Statement delivered at your registered address. .

Credit Card Feature  Redeem Reward Points Check out our rewards catalogue and order online against your accumulated reward points.  Payment Due Dates Check out payment status and amount due.  Credit Card Statements by e-mail Subscribe for free statements to be delivered to your e-mail address.  View Statements View and print current and past statements.

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 Place request for change of address Issue instructions to change your communication address.  Pay your Utility bills Pay utility bills online with your ICICI Bank Credit Card.  Subscribe for Credit Card alerts.

Subscribe to Credit Card alerts on sms or e-mail.  Dial-A-Draft Order a demand draft to be delivered to your communication address.  Duplicate PIN Apply online for a duplicate ATM PIN to enable cash withdrawal with your ICICI Bank Credit Card.

Demat Features  E-instruction Issue transfer instructions from your desktop.  Holding Statement View your real-time share holdings anytime.  Transaction Statement View your share-transaction history.

 ISIN Look-up Search and view the 12-digit International Security Identification Number (ISIN) for any scrip available in dematerialised form.  Settlement Calendar View the pay-in and pay-out dates for all market types across exchanges.  Customer Ledger and bills View bills paid and the charges debited within the selected time period.  Place Service Requests Online Place service requests pertaining to your ICICI Bank Demat Account or queries on the status of any form submitted at an ICICI Bank Demat branch.  Secure Mailbox Track your communication and resolve any queries with ICICI Bank.  Request an add-on card Apply for an add-on credit card to be delivered to your communication address.  Place Service Requests Online Place service requests pertaining to your ICICI Bank Credit Card and track the status of requests online.  Secure Mailbox 64

Track your communication and resolve any queries with ICICI Bank.

Loan Features  Loan Details View details related to your loan account like: type of loan, date of sanction, the amount sanctioned, the disbursal status, interest rate, balance tenure, current EMI and overdue amount, if any.  Profile Information View your personal information as present in the bank’s records. You can view information like residential address, office address, mailing address and property address (for home loans only).  Disbursement Details View details related to the disbursement of your loan amount. You can view information like the disbursement date and amount disbursed.  Amortization Schedule This option gives information on how the loan amount gets amortized over the tenure of the loan.  Repayment Details For customers who have opted for Auto-Debit and ECS modes of payment, this section will show your Bank, Branch and Bank account number.  Place Service Requests Online.

Place service requests pertaining to your ICICI Bank Loan Account and track the status of requests made online.

MOBILE BANKING The freedom of conducting banking operations using the mobile phone has been fast catching up around the world for its convenience. We have been at the forefront of launching mobile services in India to convenience our customers.Use your mobile phone to effect transactions and check accounts. Operate your Bank Account, Credit Card and Demat account. Apply for bank relationships using your mobile phone. You can also query the account for a wide range of information that you usually want on a regular basis. You can do your banking operations sitting anywhere, while you are doing anything. It is discreet, personalized and on your phone. Use it when at a meeting, in a movie hall, while making your Sunday brunch, or any other place you can't usually expect to get the information you want. It is an empowering and user-friendly mode of accessing your bank account.

You can now access the following ICICI Bank services via your mobile phone: 65

Bank accounts

Credit cards

Demat

Loan

Fund transfer

Balance Details

Holding Enquiry

Bill payment

Last Payment Details

Transaction Status

Balance enquiry

Payment Due Date Reward Point Status

Bill Enquiry

Provisional Income Tax Certificate Final Income Tax Certificate Reset Letter

Last 5 transactions Cheque Book Request

ISIN Enquiry

Reschedule d Letter Loan Agreement Copy

Stop Cheque Request

Other services Locate Branch

Locate ATM

Phone Banking Number Prepaid Mobile Recharge* Apply for Bank Products Status of service Request Raise

Cheque Status Enquiry

Phone Banking Self Phone Banking (IVR) access Mechanisms are as follows:

For Deposits -The customer would need to key-in his ATM/Debit Card Number and it corresponding ATM PIN. For Credit Cards -The customer would need to key-in his 16 digit Card Number and its corresponding ATM PIN. For Demat Account Holders -The customer would need to key-in his 14 Digit Demat Account Number and its TPIN.

For Bond Account Holders -The customer would need to key in his Bonds holder Number only.

What's more...this facility comes to you totally free of charge!

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Banks Functionalities Enter Debit Card number + ATM PIN Instant Readout: Available Balance, Funds in Clearing (Dynamic).

Card + ATM PIN >> Press # - Last 5 transactions.

Card + ATM PIN >> Press 1 - Cheque and cheque book related queries (cheque book request, stop payment of cheque, deposited cheque status, issued cheque status) Card + ATM PIN >> Press 2 - Internet Banking and Bill Payment related query ( User id, new password, payee confirmation, bill payment, all other Internet banking related queries) Card + ATM PIN >> Press 3 - To update your address, telephone no or email id ( Address change request, mobile banking, email id updation) Card + ATM PIN >> Press 4 - Statement related queries ( By email, by courier, all other statement related queries).

Card Functionalities Enter Credit Card number + ATM PIN Instant readout : Last payment made OR last statement TAD, MAD, due date (Dynamic) + Outstanding balance, Available credit limit.

Card + ATM PIN >> Press # - Last 5 transactions.

Card + ATM PIN >> Press 1 - Payment related queries (Auto debit, all other payment related queries).

Card + ATM PIN >> Press 2 - Statement related queries (By email, by fax, by courier, all other statement related queries).

Card + ATM PIN >> Press 3 - To update address, telephone no. or email id ( Change address, mobile no.updation / registration, email id registration / updation) Card + ATM PIN >> Press 4 - Internet banking related queries ( User id, new password, all other internet banking related queries) 67

Demat Functionalities ISIN query.

Holding statement.

Transaction History.

Submitting Delivery Instructions.

Request for Instruction Booklet.

Bonds Functionalities Information on Redemption .

Information on Interest .

Information on Dispatch of Bonds certificates.

others Lost/Replacement card.

ATM pin re-issue .

Standing Instructions.

Complaints and suggestions.

Inquire about any ICICI Bank product.

ATM ICICI Bank's 24 Hour ATM network is one of the largest and most widespread ATM Network in India. Our ATMs are located in commercial areas, residential localities, major petrol pumps, airports, near railway stations and other places which are conveniently accessible to our customers. ICICI Bank ATMs features user-friendly graphic screens with easy to follow instructions. We have introduced ATMs which interact with customers in their local language for increased convenience.

Following are the features available on our ATMs, which can be accessed from anywhere at anytime.

Cash Withdrawal: Withdraw upto Rs. 25,000/- per day from your account (50,000 for HNI's). Fast Cash option provides the facility of withdrawing prefixed amounts. Ultra Fast Cash option allows you to withdraw Rs.3000/- in one shot.

Balance Enquiry : Know your ledger balance and available balance.

Mini Statement : Get a printout of your last 8 transactions and your current balance.

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Deposit Cash / Cheques : Available at all full function ATMs, Customers can deposit both cash and cheques. Cash deposited in ATMs will be credited to the account on the same day (provided cash is deposited before the clearing) and cheques are sent for clearing on the next working day.

Funds Transfer: Transfer funds from one account to another linked account in the same branch.

PIN Change : Change the Personal Identification Number (PIN) of ATM or Debit card.

The latest feature of our ATMs, this functionality can be used for payment of bills, making donations to temples / trusts, buying internet packs, airtime recharges for prepaid mobile phones and much more...

Others :Request for a checkbook from our ATMs and our concerned branch will dispatch it such that it reaches you within 10 working days.

Charges: There is no charge levied on ICICI Bank customers for transacting on ICICI Bank's ATMs. However for customers not maintaining the minimum quarterly average balance in their savings account, first 6 transactions in the quarter will be free and Rs. 25 per transaction will be charged thereafter.

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HDFC DIRECT BANKING NET BANKING NetBanking is HDFC Bank's Internet Banking service. Providing up-to-the-second account information, NetBanking lets you manage your account from the comfort of your mouse - anytime, anywhere.

Our industry leading service provides a host of features at your finger-tips:       

View Account Balances & Statements.

Transfer Funds between accounts.

Create Fixed Deposits Online.

Request a Demand Draft.

Pay Bills.

Order a Cheque Book.

Request Stop Payment on a Cheque.

THIRD PARTY TRANSFER Third-Party Transfer is a NetBanking feature for which you will need your unique Customer ID and IPIN (password). Login to NetBanking to confirm that your ID is active in our records.With Third-Party Transfer (TPT) you can transfer funds online from your HDFC Bank account to another HDFC Bank/Other Bank account (beneficiary), anywhere in India.This is a real-time transaction and the debit and credit will reflect in the respective accounts immediately. There is no charge for this facility.

Third Party Transfer can be initiated: 1)From your Account to other Bank Accounts using  National electronic Funds Transfer (NEFT) - Funds will be credited to the beneficiary account in two working days  Real Time Gross Settlement (RTGS) - Funds will be credited to the beneficiary account on the same working day.

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2)From your HDFC Bank account to other HDFC Bank accounts (different cust ids).

3)From your account to any Visa Card (Debit or Credit) within India.

4)For issuance of Third Party Demand Drafts from your account.

You can transfer upto a maximum of Rs. 5,00,000/- per cust id per day using this facility. This amount can be transferred in parts or on a single basis.

INSTA IPIN FACILITY It has been our constant endeavor to make banking a hassle-free experience for you. At HDFC Bank, we understand that it is quite possible to forget even important things like your NetBanking password (IPIN). But that should not be holding you back from accessing your bank account. You can now re-generate your Net Banking password instantly with the help of your Debit Card details and start using your new password (IPIN) immediately. No need to request for a new password and await its arrival. And it is even better as you select your new HDFC Bank password yourself so it becomes much easier to remember the same. All you need is an active HDFC Bank Debit card.

Following are the steps that need to be followed for online resetting of your Net Banking IPIN:  Click on the link 'Forgot your IPIN.  Input your Customer ID number and confirm.  After inputting the Customer ID details, you will be shown a list of HDFC Bank Debit Cards that are linked to the Customer ID.  Select any one of the linked cards.  Post card selection you will be asked to input your ATM PIN & Expiry Date. You will then be asked to reset your Net Banking password (IPIN) and confirm the same.  Post successful resetting of IPIN, you will be asked to re-login into NetBanking using the newly generated IPIN.

CREDIT CARDS ONLINE The Following Credit Cards Net banking Features Are Available :71

View    

Account Information.

Unbilled Transactions.

Credit Card Statement..

Download Card Statement (up to last 6 months).

Request for  Autopay Register (Only for HDFC Bank account holders).  Autopay Deregister.  Statement on E-Mail.  Credit Card ATM PIN.  Register New Card.  Deregister Card.  Update Contact Details.  Credit Card Payment (Only for HDFC Bank account holders).

This service is offered completely free and you can be assured of complete privacy when you use our Net Banking facility.

INSTA ALERTS Just register for our Insta Alert service and receive updates on your account as and when the select transaction happens - all this without visiting the branch or ATM! You can register for any or all of the following alerts:      

Debit transactions greater than Rs. 5,000/ Rs.10, 000/ Rs. 20,000/Rs. 50,000.

Credit in account greater than Rs. 5,000/ Rs.10, 000/ Rs. 20,000/Rs. 50,000.

Account Balance below Rs. 5,000/ Rs.10, 000/ Rs. 20,000/Rs. 50,000-.

Weekly account balance.

Salary Credits.

Utility bill payment due Alert.

Eligibility To register for InstaAlert, all you need is a Saving or Current account (Sole Proprietorship/Partnership/Other Corporate) with HDFC Bank. Both Resident and Non Resident Indians are eligible.

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Fees

Insta Alert is FREE (w.e.f. April 2007) for Current Accounts are charged at Rs. 50/- per quarter.

all

Savings

Accounts

.

MOBILE BANKING  Banking with HDFC Bank: Full suite of MobileBanking and Payment Services including Fund Transfer facility. You can transfer funds to any HDFC Bank Account / any Bank Account in India or any Visa Card (Debit or Credit) within India using ngpay.  Entertainment at Fame Cinemas, INOX Cinemas: Search for shows, select / view seats and pay for tickets.  Travel through IRCTC, Deccan, Make-My-Trip, Yatra, redBus: Search for options, price trips and book tickets.  Shopping from Ferns N Petals, Archies, FutureBazaar: Search, buy and ship products to anyone, anywhere in India.  Telecom Services with BPL Mobile: Manage your accounts, top-up the prepaid balance and pay your monthly postpaid bills.

INSTA QUERY Our InstaQuery service provides a host of features at your finger-tips through SMS:        

Get your balance details.

Obtain your last 3 transaction details.

Request a cheque book.

Stop a cheque payment.

Enquire cheque status Request an account statement.

Get Fixed Deposit details.

Request for Internet PIN re-generation.

How does it work?

InstaQuery works through a set of text messages (SMS). With SMS you can perform a 73

wide range of query-based transactions from your mobile phone, without even making a call.  All you need to do is to type in the specified code for the transaction as a text message and send it to 5676712.  You will receive the response in the form of a text message on your mobile phone screen within a few seconds.

ATM You can enjoy the following benefits at any of our over            

3295 ATMs across India :-

Credit Card Payment.

Cheque Status Enquiry.

Regenerate Internet PIN. 24-hour access to cash.

View Account Balances & Mini-statements.

Order a Cheque Book / Account Statement.

Transfer Funds between accounts.

Refill your Prepaid card.

Pay your utility bills.

Deposit cash or cheques.

Change your PIN. Learn about all our other products.

TRANSACTION FEES There is no charge for using the card at HDFC Bank ATM. Transaction Cash Withdrawal Transaction done on Other NIL Bank ATMs in India Transaction done on Other Rs. 110/Bank ATMs outside India

PHONE BANKING Avail of the following services via PhoneBanking:

74

Balance Inquiry NIL Rs. 15/-

            

Check your account balance.

Enquire on the cheque status.

Order a Cheque Book / Account Statement.

Stop Payment.

Loan Related queries.

Open a Fixed deposit or Enquire on your Fixed deposits / TDS. Transfer Funds between accounts.

Pay your bills.

Report loss of your ATM / Debit Card / ForexPlus.

Learn about all our other products.

Enquire about latest Interest / Exchange rates.

Request a Demand Draft / Manager's Cheque.

Demat Related Queries.

E-PAYMENTS ONLINE BILL PAYMENT Key benefits:  Convenience at its best - No queuing up at collection centres or writing cheques any more!  A variety of payment modes available - ATMs, NetBanking and PhoneBanking.  Payments can be made right up to the due date.  Check your bill amount before you make any payments - ensuring you pay the exact amount you wish to.  Receive discount from specific billers on payments made through BillPay. Discounts will be provided in the next month's bills.

We have tie-up with over 80 Utility Companies across India. Using BillPay, you can pay your bills for 5 different electricity consumer numbers, 5 different phone (landline + cellular) numbers and 5 different insurance policy numbers - via ATM, NetBanking and Phone Banking.

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INSTANT PAY Key Benefits:  Convenience - No need to stand in queue or write cheques, customers can pay at their convenience from their home or office.  No registration hassles - No need to register for the service before paying bills.

Important things to know:  For Electricity Companies, you have to make payment at least 2 days before the due date.  You need to have NetBanking password for making the payments.  Submit the correct bill details, incorrect details will lead to wrong payments to the Utility Company. In such a case, customers will have to follow up with utility company.

Charges:  For each transaction, there is a nominal fee of Rs 10/- (plus taxes).

DIRECT PAY  Shop online on any websites offering HDFC Bank's Direct Pay facility.  Select the products that you would like to purchase.  In the checkout process, select HDFC Bank's Direct Debit / NetBanking as your option.  Authorise the transaction using your Customer ID & NetBanking password.  The purchases are debited directly to your account and credited to the account of the establishment (or the website where the purchases were made).

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However, shopping is not the only option that you have. You can also purchase railway tickets, pay your telephone, mobile and insurance premium online.

SBI DIRECT BANKING INTERNET BANKING www.onlinesbi.com the Internet banking portal of the bank, enables its retail banking customers to operate their accounts all across India, removing the restrictions imposed by geography and time. It's a platform that enables the customers to carry out their banking activities from their desktop, aided by the power and convenience of the Internet.

Availing the Internet banking services, you can do the following normal banking transactions online:  Self-account funds transfer across India.     

Third party transfers in the same branch.

New account opening.

Demand Draft requests.

Standing instructions.

New Cheque-book request and much more.

Apart from these, the other salient value-added features available are:  Railway tickets booking.         

Utility bill payments.

LIC and other insurance premia payments.

SBI Mutual funds Investments.

Remit Subscription to PPF account.

Credit card dues payments.

Deposit your taxes.

Donations to your religious inspirations.

Donations to Red Cross and such other organisations.

Setting up SMS alerts for transaction information.

Truly smart services to cover most of your banking transactions. Above all, you can 77

transfer funds between your accounts held at several locations. All this and much more from your desktop.

All this at no cost - It's free! And most important -the site is 'VeriSign' certified indicating that it's absolutely safe and secure for you to transact online.

MOBILE BANKING Away from home, bills can be paid or money sent to the loved ones or balance enquiries done anytime 24x7 !!!That is what SBI FreedoM offers -convenience, simple, secure, anytime and anywhere banking.The service is presently available on java enabled mobile phones over SMS/ GPRS/ WAP as also non java phones with GPRS connection. The service can be availed over the free GPRS facilities offered by various mobile service providers. The services for other non-Java mobile phones are under development and will be offered using Unstructured Supplementary Services Data (USSD).

The following functionalities will be provided in the Phase I :  Funds transfer (within and outside the bank –using NEFT).  Enquiry services (Balance enquiry/ Mini statement).  Request services (cheque book request).  Bill Payment (Utility bills, credit cards).  M Commerce (Mobile Top Up, Merchant payment, SBI life insurance premium).

Business Rules Governing Mobile Banking Services  The Mobile Banking Service will be available to all the customers having a satisfactory running account (Current/ Savings). The customers will have to register for the services.  Daily transaction limits for fund transfer and bill/ merchant payment will be Rs.5000.00and Rs.10,000.00 respectively per customer with an overall calendar month limit of Rs.30,000.00.  The service will be carrier-agnostic i.e. all customers can avail the mobile banking service with the Bank irrespective of the service provider for their mobiles.  The service is free of charge. However, the cost of SMS / GPRS connectivity will 78

have to be borne by the customer.

E-COMMERCE&M-COMMERCE Policy Document for empanelment of Vendors/ Merchants/ Billers The following guidelines have been approved by the Bank’s Board for empanelment of aggregator / merchants for e-Commerce & m-Commerce transactions: The Bank's liability regarding delivery of the product and/or quality thereof is nil (which will be made clear in the disclaimer). E-Commerce / m-Commerce facility would be made available to firms only if they authorize the Bank to debit their collection account and credit the customer account in respect of unresolved claims of the customers. The guidelines / policies are grouped under the following heads: Business criteria applicable for selection: Several business related parameters have been prescribed. The details of aforesaid parameters along with value statement and stipulations are given in Annexure “A”.  Commercial criteria for such accreditation: Commercial parameters signifying stipulations are contained in Annexure “B”.  Technology parameters for the tie-up: Technology parameters to ensure and safeguard the interests of all stakeholders have been provided in Annexure “C”.  The Entity desiring to enter into an arrangement with the Bank would need to submit their proposal to the Bank on the format prescribed in Annexure “D”.

ATM SERVICES State Bank offers you the convenience of over 8500 ATMs in India, the largest network in the country and continuing to expand fast! This means that you can transact free of cost at the ATMs of State Bank Group (This includes the ATMs of State Bank of India as well as the Associate Banks – namely, State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Indore, State Bank of Mysore, State Bank of Patiala, State Bank of Saurashtra, and State Bank of Travancore) and wholly owned subsidiary viz.

SBI Commercial and International Bank Ltd., using the State Bank ATM-cum-Debit (Cash Plus) card.

KINDS OF CARDS ACCEPTED AT STATE BANK ATMs 79

Besides State Bank ATM-Cum-Debit Card and State Bank International ATM-CumDebit Cards following cards are also accepted at State Bank ATMs:  State Bank Credit Card.  ATM Cards issued by Banks under bilateral sharing viz. Andhra Bank,Axis Bank, Bank of India, The Bank of Rajasthan Ltd., Canara Bank, Corporation Bank, Dena Bank, HDFC Bank, Indian Bank, Indus Ind Bank, Punjab National Bank, UCO Bank and Union Bank of India.  Cards issued by banks (other than banks under bilateral sharing) displaying Maestro, Master Card, Cirrus, VISA and VISA Electron logos.  All Debit/ Credit Cards issued by any bank outside India displaying Maestro, Master Card, Cirrus, VISA and VISA Electron logos.

Features:  Withdraw cash from over 8500 ATMs of our group FREE.  Recharge pre-paid mobile phones of Vodafone, IDEA, Reliance and BPL without any charges at any State Bank ATM.  Recharge pre-paid mobile phones of AIRTEL of 11 Circles viz. Mumbai, Delhi, Gujarat, M.P., U.P. (East), U.P. (West), Karnataka, Kerala, Andhra Pradesh, Tamilnadu, and Chennai, through ATM/ SMS anywhere in India.  Recharge mobile phones of AIRTEL, Vodafone, IDEA and BPL without any charges at all ATMs as well as by sending SMS (after registration at State Bank ATM).The text of SMS will be as under:Service Provider

SMS Text

Send SMS to

Airtel

RC (AMOUNT) PIN

535

BPL

RC SBI (AMOUNT) PIN

140

Vodafone

RC SBI (AMOUNT) PIN

147

IDEA

RC SBI (AMOUNT) PIN

575

 Payment of SBI Credit Card bills.  Payment of SBI Life insurance premium.

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 Pay fees of select colleges.  Donate to Temple Trusts: - (a) Vaishno Devi (b) Shirdi Saibaba (c) Gurudwara Takht Saheb, Nanded (d) Tirupati and (e) Sri Jagannath Temple, Puri.

Transaction Limits:  Daily limit of Rs 25,000/- at the ATM  Daily limit of Rs 50,000/- at Point of Sale (POS) terminal for debit transactions Combined daily limit of Rs 75,000/ The breakup of Multi Option Deposit Scheme units is available through the Saving Bank / Current Account linked with the ATM-Cum-Debit Card, if attached with the MODS.The withdrawals can be made in units of Rs 1000/from the Deposits.

Fees: There is no joining fee for State Bank ATM-cum-Debit (Cash Plus) card. Annual maintenance fee of Rs. 50/- p.a. will be recovered from the second year of issue.

State Bank Cash Plus International Card WITHDRAWAL LIMIT: i) Cash Withdrawals(per day) : India Minimum Rs. 100

Abroad Depends on the Bank whose ATM is being used Maximum Rs. 45000 US$1000 or equivalent

ii) Transaction at POS (per day) : Maximum

India Rs. 1,00,000

Abroad US$1000 or equivalent 81

Maximum permitted aggregate utilization in a day is Rs. 145000 in India and equivalent to US$ 2000 abroad (subject to compliance with the RBI and Exchange Control/ FEMA Regulations).

TRANSACTION COSTS: The Card holder's account is liable to be debited with the following fees, if the transaction is made at an ATM owned by bank other than SBI and its Associates: Type of transaction

Transactions at ATMs of Banks under arrangements for Bilateral Sharing of ATM Network (A) Rs. 20/-

Transactions at ATMs of other Banks under Maestro / Master Card/ Cirrus network (In India) (B) Rs. 20/-

Transactions at ATMs under Maestro / Master Card/ Cirrus network (Abroad)

(C) Cash Rs. 150/- * Withdrawal Balance Nil Nil Rs.15/- * Inquiry (* plusService Taxand Education Cess as applicable)

: When used on ATMs of Banks other than those under bilateral sharing arrangement but displaying Master Card/ Maestro/ Cirrus logos, non completion of transaction due to insufficient balance in the designated account will betreated as a declined transaction andwill attract same charges as balance inquiry fee, noted above.

Note

Fees The State Bank Cash Plus International Card is available for one time joining fee of Rs 200/-. Annual maintenance fee of Rs. 50/- p.a. will be recovered from the second year of issue.

STATE BANK INTERNATIONAL ATM-CUM DEBIT CARD

Eligibility All Saving Bank and Current Account holders having accounts with networked branches and are:  18 years of age & above  Account type: Sole or Joint with “Either or Survivor” / “Anyone or Survivor” 82

 NRE account holders are also eligible but NRO account holders are not.

Benefits  Convenience to the customers traveling overseas.  Can be used as Domestic ATM-cum-Debit Card.  Available at a nominal joining fee of Rs. 200/-.  Daily limit of US $ 1000 or equivalent at the ATM and US $ 1000 or equivalent at Point of Sale (POS) terminal for debit transaction.  Purchase Protection*up to Rs. 5000/- and Personal Accident cover*up to Rs. 2,00,000/-.  Charges for usage abroad: Rs. 150+ Service Tax per cash withdrawal Rs. 15 + Service Tax per enquiry.

E-PAY  Bill Payment@OnlineSBI.com (e-Pay) will let you to pay your Telephone, Mobile,

Electricity, Insurance and Credit Card bills electronically over our Online SBI website http://www.onlinesbi.com.  Say good-bye to queues: Check & Pay your bills online, 24 hours a day, over ePay. You even get a Cyber Receipt for your payments done online or scheduled over online SBI!.  If your biller presents bills online, you can also give us AutoPay instructions and we will pay the bills as and when it falls due.  The service is available for select local billers at Ahmedabad, Bangalore, Bhopal, Bhuvaneshwar,Chandigarh, Chennai,Delhi, Guwahati,Hyderabad, Kolkata, Lucknow, Mumbai, Patna,Thiruvanathapuram. The national billers like LIC,SBI Cards, SBI Life Insurance etc. can be paid at any centre accross the country.  You can add billers online using the Add Biller link on http://www.onlinesbi.com site or you can fill up the SBI e-Pay Registration Form (SeRF) which is available at the branch and submit thereat. Branch will add your Billers for payment over ePay.

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DATA Methods of data collection: Research is a way of finding out new dimensions of looking at familiar things in order to explore ways of changing it .research is nothing but purposive investigation with various goals such as means for gaining knowledge can be carried out either arbitrarily or in a systematic fashion.

We have done the primary as well as the secondary data collection method.

Primary data:  Questionnaire Secondary data:  Internet and company Website.

84

CONCLUSION  Kotak Mahindra Bank offers most of the direct banking services free of charge..  Most of the customers of Kotak Mahindra Bank are the satisfied with direct banking facility offered by bank.  Most of the customers of Kotak use net banking among all the other direct banking channels.  Most of the people who have there account in different banks use direct banking channels for knowing there account status or for various account related information.  Most of the male customers have fear of improper knowledge while using different direct banking channels while the female customers have fear of hacking of there accounts while using direct banking channels.  From the study I also conclude that persons belonging to the age group of 20-30 yrs find direct banking more convenient than personal banking.  From the above study I also conclude that persons belonging to the age group of 20-30 yrs give more importance to speed than the others who give more importance to safety.  From the above study I also conclude that most of the people rate very good to the direct banking services of kotak Mahindra bank.

85

RECOMMENDATIONS With few years in banking business and seeing the responses of the customers I can say that the bank has great potential to perform well in future with the help of this study I would like to give following recommendations:-

 The company should pay more attention on customer satisfaction this will help them in building good relationships with them which will prove to be profitable for them in long run.  The company should also keep an eye on competitors strategy and bring about necessary changes from time to time  In such a competitive environment the bank must persevere to shorten the processing time and reduce unnecessary formalities to speed up the processes.  The bank must concentrate more on personal relationship and services offered as differentiation on the basis of product is difficult.  The concept of “customer touch point” should gradually evolve at various interface of the management hierarchy within the bank. This means that a concept of centralized data base collection and assortment should be introduced in the bank, so that important customer information does not change hands frequently.  The branches must look in for corporate tie up with the existing organizations.  Bank can adopt the concept of franchise so as to focus on a particular Target market.

86

 Bank should think of UBOs also for expanding its relationship horizon. Proper product knowledge should be given to the UBO’s especially about the products for which it is acting as a corporate selling agent (HSBC got tie up with Canara Bank and Oriental Bank of Commerce for its life insurance).

87

BIBLIOGRAPHY  http://www.kotak.com 

http://www.kotaklifeinsurance.com

 Research Methodology Methods And Techniques (C.R.KOTHARI)

88

GRAPHS

89

FIGURE 1

Count Occupation business gender

male female

Total

student

service

others

Total

19

15

20

11

65

7

16

9

3

35

26

31

29

14

100

90

FIGURE 2 Count Charges(a13) yes ICICI BANKS (a4)

Total

no

Total

5

10

15

KOTAK

13

28

41

SBI

15

12

27

HDFC

5

5

10

OTHERS

2

5

7

40

60

100

91

FIGURE 3 Count Satisfaction(a14) yes BANKS ICICI (a4)

Total

no

Total

11

4

15

KOTAK

27

14

41

SBI

17

10

27

HDFC

8

2

10

OTHERS

4

3

7

67

33

100

92

FIGURE 4 Count Channels net banking Banks

ICICI

phone banking

auto pay

SMS banking

Total

4

3

3

3

2

15

17

8

7

6

3

41

SBI

7

4

3

12

1

27

HDFC

3

2

4

1

0

10

OTHERS

1

3

0

1

2

7

32

20

17

23

8

100

KOTAK

Total

home banking

93

FIGURE 5 Count Purpose account information gender

Total

fund transfers

e-payments

investments

Total

male

24

19

15

7

65

female

18

6

5

6

35

42

25

20

13

100

94

FIGURE 6 Count Fears improper hacking gender

Total

bad customer

knowledge

costly

service

Total

male

18

22

17

8

65

female

13

10

7

5

35

31

32

24

13

100

95

FIGURE 7 Count types direct banking age

Total

personal banking

Total

20-30

35

20

55

30-40

18

8

26

40-50

8

2

10

50 and above

3

6

9

64

36

100

96

FIGURE 8 Count a9 safety age

Total

speed

feasibility

reliability

Total

20-30

16

18

12

9

55

30-40

13

3

5

5

26

40-50

3

4

1

2

10

50 and above

4

0

2

3

9

36

25

20

19

100

97

FIGURE 9 Count rating satisfactory Banks

Total

good

very good

excellent

Total

ICICI

5

6

2

2

15

KOTAK

7

11

17

5

40

SBI

4

18

4

2

28

HDFC

1

2

4

3

10

OTHERS

0

1

5

1

7

17

38

32

13

100

98

QUESTIONNAIRE 1: NAME-------------------------------------2: GENDER: ------------------3: OCCUPATION: a) b) c) d)

Business Student Service others

4: AGE GROUP: a) 20-30 b) 30-40 c) 40-50 d) 50 and above

5: WHICH BANK DO YOU BANK WITH? a) ICICI b) KOTAK c) SBI d) HDFC e) OTHERS

6: WHICH OF THE FOLLOWING YOU FIND MORE CONVENIENT FOR BANKING USE?

99

a)

Direct Banking

b)

Personal Banking

7: HOW FREQUENTLY DO YOU USE DIRECT BANKING CHANNELS? a) Daily b) Weekly c) Monthly d) Quarterly

8: DO YOU HAVE ANY FEAR WHILE USING DIRECT BANKING CHANNELS? a) Hacking b) Improper knowledge c) Costly d) Bad customer service

9: WHICH DIRECT BANKING CHANNELS DO YOU USE? a) Net Banking b) Home Banking c) Phone Banking d) Auto pay e) SMS Banking

100

10: WHAT FACTORS YOU CONSIDER WHILE OPTING FOR DIRECT BANKING CHANNELS? a) Safety b) Speed c) Feasibility d) Reliability

11: FOR WHAT PURPOSE YOU USE DIRECT BANKING CHANNELS? a) Account Information b) Fund transfers c) e payments d) Investments

12: ARE YOU SATISFIED WITH THE SECURITY MEASURES PROVIDED BY THE BANKS FOR DIRECT BANKING? a) Yes b) No

13: HOW WOULD YOU RATE DIRECT BANKING SERVICES? a) Satisfactory b) Good c) Very good d) Excellent

101

14: DOES YOUR BANK CHARGE YOU FOR USING DIRECT BANKING SERVICES? a)

Yes

b)

No

15: ARE YOU SATISFIED WITH THE DIRECT BANKING CHANNELS YOU USE? a) Yes b) No

102

CASE STUDY ON KOTAK MAHINDRA BANK The article was written by Personalfn for Business India, and was carried in its July 4, 2005 issue with the title, "And the winner is...". The original draft, in its entirety, has been retained over here.

Talk of life insurance nowadays and ULIPs immediately spring to mind. ULIPs' popularity, for some life insurance companies has surged to such an extent that they have become the talk of the town. But have individuals also evaluated the option of investing in tax-saving funds/equity linked saving schemes (ELSS), which offer similar tax benefits? We don't think so.

ULIPs basically work like a mutual fund with a life cover thrown in. They invest the premium in market-linked instruments like stocks, corporate bonds and government securities. Investments in ULIPs attract tax benefits under Section 80C. A tax-saving fund is a diversified equity fund. It works like an open-ended diversified equity fund that invests predominantly in the stock market to generate growth by way of capital appreciation for investors. The only difference between an equity fund and a taxsaving fund is that the latter has a 3-year lock-in and tax benefits under Section 80C. To that end there is a common ground between tax-saving funds and ULIPs in the shape of Section 80C tax benefits.

So how does one go about comparing ULIPs vis-à-vis tax-saving funds? An illustration will help in putting things in perspective.

ULIP from ABC Company Ltd. Age (Yrs) Term of Premium paying Sum Assured Premium Maturity policy (Yrs) term (Yrs) (Rs) (Rs) amount (Rs) 30

10

10

1,000,000

100,000

1,520,375

Assumed returns 10% CAGR The figures used in the illustration above are based on that of an existing life insurance company.

The returns could vary across life insurance companies.

As can be seen from the table, an individual decides to invest in a ULIP having a sum assured of Rs 1,000,000 and tenure of 10 years. The premium for the same would be approximately Rs 100,000. The assumed rate of return is 10% (compounded 103

annualized). The individual has selected the growth option i.e. the entire investible amount can be invested in equities.

The maturity amount in the above example at the end of the tenure would be Rs 1,520,375. That is presuming that the investments grow at the rate of 10%. But company illustrations can often be misleading. That is because the returns calculated by life insurance companies are often on that portion of premium, which is net of expenses.

In other words, the 10% return shown in the above illustration has not been calculated on the premium of Rs 100,000 but on a figure, which is less than that, after deducting expenses from the premium. Therefore, the net return on Rs 100,000 works out to approximately 7.50% in our illustration. Also, for some life insurance companies, the fund management charges are not factored into the returns shown in their illustration, which means that the net return will take a further beating to the extent of the fund management charges.

But individuals might argue that a ULIP offers life insurance as well whereas a taxsaving fund does not. To counter this argument, let us take an example of an individual buying a term plan plus investing in a tax-saving fund.

Term plan from XYZ Company Ltd. Age (Yrs) Sum Assured Premium Tenure Death benefit (Rs) (Rs) (Yrs) (Rs) 30

1,500,000

3,600

10

1,500,000

The figures used in the illustration above are based on that of an existing life insurance company.

The returns could vary across life insurance companies. As the table indicates, an individual, instead of investing the entire amount of Rs 100,000 in a ULIP, opts for a term plan from XYZ Company Ltd for a sum assured of Rs 1,500,000. The premium amounts to Rs 3,600 per annum.

Systematic investment plan Amount invested Amount invested Investment Assumed Maturity per month (Rs)* per annum (Rs)* tenure (Yrs) return (%)** value (Rs) 8,033

96,400

10

8.00

1,456,247

8,033

96,400

10

9.00

1,534,993

8,033

96,400

10

10.00

1,618,308

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* Figures rounded off ** Compounded Annualized Return In the table, we have assumed that the individual makes an investment of Rs 96,400 per annum (Rs 100,000 - Rs 3,600) in tax-saving funds. This amount is further divided into 12 parts for 12 months as we have also assumed that the individual will make regular monthly investments every year. Assuming a 10% rate of return, he will get approximately Rs 1,618,308 at the end of the tenure. But since mutual fund NAVs are usually net of expenses, we have also assumed returns at the rate of 9% and 8%.

The best part about keeping one's investment needs and insurance needs apart is that both work towards their respective goals separately. Therefore, in case of an eventuality, the individual's nominees would stand to get not only the sum assured from the term plan (i.e. Rs 1,500,000) but also the amount that has been invested in a taxsaving fund. Of course, since the tax-saving fund has a lock-in period of 3 years, the maturity amount would differ to that extent. In our example, we have calculated the maturity value after 10 years. The nominees would stand to gain only that part of the maturity amount, which has been unlocked i.e. become free from the said lock-in period and can be redeemed.

One reason why ULIP returns are on the lower side compared to tax-saving funds is due to the higher expenses charged by them. The expenses take their toll on the 'investible surplus', which reduces to the extent of the expenses. For example, mortality charges as well as the commission paid to agents are factored into the ULIP expenses.

While mortality charges are unique to ULIPs as compared to tax-saving funds, commissions form a part of tax-saving funds as well. But while life insurance agents can earn upto 25%-30% commission by selling a ULIP upfront in the first year, their taxsaving fund counterparts earn a measly 1.50%-2.00%. Also, the trail commission earned can go upto 5% for a ULIP while it is in the region of around 0.50%-0.75% in case of tax-saving funds.

Another advantage tax-saving funds offer is the option of staying invested in the scheme during maturity. In case individuals feel that the markets are not conducive to a sale, they can stay invested till the markets turn in their favour. This is unlike in ULIPs where individuals do not have the option of staying invested post-maturity. If at the time of maturity, equity markets are down and your ULIP returns have taken a hit, you do not have the option of staying invested. You have to necessarily collect the maturity proceeds.

105

A point to be considered before individuals take the plunge in tax-saving funds is that they invest 100% of their corpus in equities. Balanced or debt schemes are not available for availing the tax benefits under Section 80C. Therefore, individuals who do not have the risk appetite for equities could opt for a balanced ULIP, as tax-saving funds would be too risky for them. Also, a ULIP offers an individual the choice to 'protect' his portfolio if need be by way of a restructure. He can shift his money from high-risk equities to debt or go for a balanced portfolio. Unlike investments in tax saving funds where you either hold on to your investments or sell them.

Besides, many insurance companies have introduced ULIPs with a capital guarantee.

This product protects individuals from a potential market slide. In case of a market slide, the insurance company purports to at least return the premia paid by the individual. This is unlike investments in a mutual fund scheme where you are partner to both profits as well as losses incurred by the scheme.

So where does all this talk lead to? Individuals who have the stomach for taking risk can separate their investment and insurance needs. They can consider the option of buying a term plan separately and investing in tax-saving funds. Whilst investors who do not have an appetite for risks, but who would still like to add a dash of equity to their portfolio, could look at investing in a balanced ULIP

106