CHAPTER 1- INTRODUCTION

1.1 About Customer Satisfaction

A customer is the person who purchases another company's goods or services. Customer is also
known as the king. Customers are important because they drive revenues; without them, businesses
have nothing to offer.
Customer satisfaction refers to how satisfied customers are with the products or services they
receive from a particular agency. The level of satisfaction is determined not only by the quality and
type of customer experience but also by the customers’ expectations.
Customers in human services are commonly referred to as service users, consumers or clients.
They can be individuals or groups. An organization with a strong customer service culture places
the customer at the centre of the service design, planning and service delivery. Customer centric
organizations will:
 Determine the customer’s expectations when the plan listen to the customers as they design.
 Focus on the delivery of customer service activities, value the customer feedback when they
measure performance.

1.2 Importance of Customer Satisfaction

There are a number of reasons why customer satisfaction is important in Banking Sector:
 Meeting the needs of the customer is the underlying rationale for the existence of
community service organizations. Customers have a right to quality services that deliver
outcomes.
 Organizations that strive beyond minimum standards and exceed the expectations of their
customers are likely to be leaders in their sector.
 Customers are recognized as key partners in shaping service developments and assessing
quality of service delivery.
1.3 Need for customer Satisfaction

 It’s a leading indicator of consumer repurchase intentions and loyalty.

 It reduces customer churn
 It increases customer lifetime value
 It reduces negative word of mouth
 It’s cheaper to retain customers than acquire new ones

1.4 Introduction to Banking

Definition of Banking

As per Section 5(b) of Banking Regulation Act, 1949“Banking means the accepting, for the purpose
of lending or investment, of deposits of money from the public, repayable on demand or otherwise,
and withdraw able by cheque, draft, order or otherwise.”

As per Section 5(c) of Banking Regulation Act, 1949 ”Banking Company" means any company
which transacts the business of banking in India.”

Meaning of Banking

A banking company is defined as a company which transacts the business of banking in India. The
Indian Banking Regulation Act defines the business of banking by stating the essential functions of a
banker. It also states the various other businesses a banking company may be engaged in and prohibits
certain business to be performed by it.

Banking means accepting the deposits from the customers for lending to the needy and extending the
other services as to issue of demand draft etc. Nowadays after introduction of private sector banks the
banks have become a profit centre and the function become changed and now banks are doing the
insurance and mutual funds also, but nationalized banks are still service oriented in extending loans for
Education loan, and rural development activities.
A Bank is an organization which lends money to the borrowers for a purposeful task and provides a
facility to deposit and withdraw money when needed and charge for it.A bank is a financial institution
licensed to receive deposits and make loans.

Banks may also provide financial services, such as wealth management, currency exchange, and safe
deposit boxes. There are two types of banks: commercial/retail banks and investment banks. In most
countries, banks are regulated by the national government or central bank.

1.5 Classification of Banks in India

The banking industry handles finances in a country including cash and credit. Banks are the
institutional bodies that accept deposits and grant credit to the entities and play a major role in
maintaining the economic stature of a country. Given their importance in the economy, banks are kept
under strict regulation in most of the countries. In India, the Reserve Bank of India (RBI) is the apex
banking institution that regulates the monetary policy in the country.

Banks are classified into classified into four categories –

 Commercial Banks
 Small Finance Banks
 Payments Banks
 Co-operative Banks

1.Commercial Banks:

Commercial Banks are regulated under the Banking Regulation Act, 1949 and their business model is
designed to make profit. Their primary function is to accept deposits and grant loans to the general
public, corporate and government. Commercial Banks can be further classified into public sector
banks, private sector banks, foreign banks and Regional Rural Banks (RRB).

a) Public sector Banks

There are a total of 20 nationalised banks in the country namely below:

1. State Bank of 2. Bank of India 3. Allahabad 4. Bank of 5. Canara Bank
 India Bank Maharashtra

6. Indian 7. Punjab & 8. Punjab 9. Syndicate 10. Andhra Bank

Overseas Sind Bank National Bank
Bank Bank

11. UCO Bank 12. Bank of 13. Union Bank 14. United Bank 15. Vijaya Bank
Baroda of India of India

16. Dena Bank 17. Oriental 18. Indian Bank 19. Central Bank 20. Corporation
Bank of of India Bank
Commerce

b) Private Sector Banks:

These include banks in which major stake or equity is held by private shareholders. All the banking
rules and regulations laid down by the RBI will be applicable on private sector banks as well. Given
below is the list of private-sector banks in India-

HDFC Bank Kotak ICICI Bank Axis Bank YES Bank Induslnd Bank
Mahindra
Bank
DCB Bank Bandhan IDFC Bank City Union Tamilnad Nainital Bank
Bank Bank Mercantile
Bank
Catholic Federal Bank Jammu  Karnataka Dhanlaxmi South Indian
Syrian Bank Kashmir Bank bank bank Bank
Lakshmi Vilas
Ratnakar Karur Vysya Industrial
Bank 
Bank Limited Bank (KVB) Development
(RBL Bank)  Bank of India
 (IDBI)

c) .Foreign Bank:

A foreign bank is one that has its headquarters in a foreign country but operates in India as a private
entity. These banks are under the obligation to follow the regulations of its home country as well as the
country in which they are operating. Given below is the list of foreign banks operating in India –

Australia and New

Westpac Banking
Zealand Banking Group National Australia Bank
Corporation
Ltd.

Bank of Bahrain &

AB Bank Ltd. Sonali Bank Ltd.
Kuwait BSC

Industrial & Commercial

Bank of Nova Scotia BNP Paribas
Bank of China Ltd.

Credit Agricole
Corporate & Investment Societe Generale Deutsche Bank
Bank

PT Bank Maybank
HSBC Bank Mizuho Bank Ltd.
Indonesia TBK

Sumitomo Mitsui Cooperatieve Rabobank

MUFG Bank, Ltd.
Banking Corporation U.A.

Shinhan Bank Woori Bank KEB Hana Bank

Industrial Bank of Korea Bank of Ceylon Credit Suisse A.G

Krung Thai Bank Public Abu Dhabi Commercial

CTBC Bank Co., Ltd.
Co. Ltd. Bank Ltd.

Mashreq Bank PSC First Abu Dhabi Bank Emirates Bank NBD
 PJSC

The Royal Bank of

Barclays Bank Plc. Standard Chartered Bank
Scotland plc

American Express
Bank of America Citibank
Banking Corporation

J.P. Morgan Chase Bank SBM Bank (India)

Kookmin Bank
N.A Limited

DBS Bank India Limited

d) .Regional Rural Bank

These are also scheduled commercial banks but they are established with the main objective of
providing credit to weaker sections of the society like agricultural labourers, marginal farmers and
small enterprises. They usually operate at regional levels in different states of India and may have
branches in selected urban areas as well. Other important functions carried out by RRBs include-

 Providing banking and financial services to rural and semi-urban areas

 Government operations like disbursement of wages of MGNREGA workers, distribution of
pensions, etc.
 Para-Banking facilities like debit cards, credit cards and locker facilities

2. Small Finance Bank

This is a niche banking segment in the country and is aimed to provide financial inclusion to
sections of the society that are not served by other banks. The main customers of small finance
banks include micro industries, small and marginal farmers, unorganized sector entities and small
business units. These are licensed under Section 22 of the Banking Regulation Act, 1949 and are
governed by the provisions of RBI Act, 1934 and FEMA.
Fincare Small Equitas Small
Finance Bank Ltd. Finance Bank Ltd.

ESAF Small Finance Suryoday Small

Bank Ltd. Finance Bank Ltd.

3. Payment Banks:

This is a relatively new model of bank in the Indian Banking industry. It was conceptualised by the
RBI and is allowed to accept a restricted deposit. The amount is currently limited to Rs. 1 Lakh per
customer. They also offer services like ATM cards, debit cards, net-banking and mobile-banking.

4. Co-operative Bank:

Co-operative banks are registered under the Cooperative Societies Act, 1912 and they are run by an
elected managing committee. These work on no-profit no-loss basis and mainly serve entrepreneurs,
small businesses, industries and self-employment in urban areas. In rural areas, they mainly finance
agriculture-based activities like farming, livestock and hatcheries.

i. Urban Co-operative Banks:

Urban Co-operative Banks refer to the primary cooperative banks located in urban and semi-urban
areas. These banks essentially lent to small borrowers and businesses centered around communities,
localities work place groups.According to the RBI, on 31st March, 2003 there were 2,104 Urban Co-
operative Banks of which 56 were scheduled banks. About 79% of these are located in five states, –
Andhra Pradesh, Gujarat, Karnataka, Maharashtra and Tamil Nadu.
 ii. State Co-operative Banks:

A State Cooperative Bank is a federation of the central cooperative bank which acts as custodian
of the cooperative banking structure in the State.

1.6 History of Banking in India

Phase I:

The General; Bank of India was set up in the year 1786. Next came Bank of Hindustan and Bengal
Bank. The East India Company established Bank of Bengal (1806), Bank of Bombay (1840) and Bank
of Madras (1843) as independent units and called them Presidency Banks. These three banks were
amalgamated m 1921 and imperial Bank of India was established which started as private shareholders
banks, mostly Europeans shareholders.

In 1865 Allahabad Bank was established and first time exclusively by Indians, Punjab National Bank
Ltd. was set up in 1894 with headquarters at Lahore. Between 1885 and 1913, Bank of India Central
Bank of India, Bank of Baroda, Canara Bank, Indian Bank, and Bank of Mysore were set up Reserve
Bank of India came in 1935.

During the first phase the growth was very slow and banks also experienced periodic failures between
1913 and 1948. There were approximately 1100 banks, mostly small. To streamline the functioning
and activities of commercial banks, the Government of India came up with the Banking Companies
Act, 1949 which was later changed to Banking Regulation Act, 1949 as per amending Act of 1965
(Act No. 23 of 1965). Reserve Bank of India was vested with extensive power for the supervision of
banking in India as the Central Banking Authority.

During those day’s public has lesser confidence in the banks. As an aftermath deposit mobilization
was slow. Abreast of it the savings bank facility provided by the Postal department was comparatively
safer. Moreover, funds were largely given to traders.

Phase II:
Government took major steps in the Indian Banking Sector Reform after independence. In 1955, it
nationalized Imperial Bank of India with extensive banking facilities on a large scale specially in rural
and semi urban areas. It formed State Bank of India to act as the principal agent of RBI and to handle
banking transactions of the Union and State Governments all over the country.

Seven banks forming subsidiary of State Bank of India were nationalized on 19th July 1959. In 1969,
major process of nationalization was carried out. It was the effort of the then Prime Minister of India,
Mrs. Indira Gandhi 14 major commercial banks in the country was nationalized. Second phase of
nationalization in Indian Banking Sector Reform was carried out in 1980 with six more banks. This
step brought 80% of the banking segment in India under Government ownership.

The following are the steps taken by the Government of India to Regulate Banking Institutions in the
country.

i. 1949: Enactment of Banking Regulation Act.

ii. 1955: Nationalization of State Bank of India.

iii. 1959: Nationalization of SBI subsidiaries.

iv. 1961: Insurance cover extended to deposits.

v. 1969: Nationalization of 14 major banks.

vi. 1971: Creation of credit guarantee corporation.

vii. 1975: Creation of regional rural banks.

viii. 1980: Nationalization of 6 banks with deposits over 200 crore.

After the nationalization the branches of the public sector banks in India rose to approximately 800%
and deposits and advances took a huge jump by 11,000%. Banking in the sunshine of Government
ownership gave the public implicit faith and immense confidence about the sustainability of these
institutions
Phase III:

This phase has introduced many more products and facilities in the banking sector in its reforms
measure. In 1991, under the chairmanship of M Narasimham, a committee was setup by his name
which worked for the liberalization of banking practices.

The country is flooded with foreign banks and their ATM stations. Efforts are being made to give a
satisfactory service to customers. Phone banking and net banking is introduced. The entire system
became more convenient and swift. Time is given more importance than money

The financial system of India has shown a great deal of resilience. It is sheltered from any crisis
triggered by any external macro-economic shock as other East Asian Countries suffered. This is all
due to a flexible exchange rate regime, the foreign reserves are high, the capital account is not yet fully
convertible, and banks and their customers have limited foreign exchange exposure.

Here we more concerned about private sector banks and competition among them. Today there are 27
private sector banks in the banking sector; 19 old private sector banks and 8 new private sector banks.
These new banks have brought in state-of-the-art technology and aggressively marketed their products.
The Public sector banks are facing a stiff competition from the new private sector bank. The banks
which have been setup in the 1990’s under the guidelines of the Narasimham Committee are referred
to as NEW PRIVATE SECTOR BANKS

1.7 INTRODUCTION TO AXIS BANK

AXIS bank completed the 5th year of its operation at the end of March 99.The bank witnessed good
growth in its business and profit and also came out with a public issue of its quality for the 1 st time
during the year, which evoked excellent retail response. The bank made significant progress during the
year in line with its committed business target’s, despite difficult market condition the bank spread
over different states, there by enlarging its client based substantially.

The bank continue to introduce new products, upgrade the technology support system to improve
operational efficiencies and strengthen its human resource based on the whole, 2002-2003 has been a
productive years for the bank in terms of both growth and consolidation of business as well as
strengthening of its infrastructure. The bank ended the year 2002-2003 conducting business in 80 cities
and towns, with 192branches and extension counters and 822 ATMs. The AXIS bank will spread out
across the country with operation in 23 states and 1 union territory.

Axis Bank was the first of the new private banks to have begun operations in 1994, after the
Government of India allowed new private banks to be established. AXIS, the largest mutual fund in
India, Life Insurance Corporation of India (LIC) and General Insurance Corporation Ltd. and its four
subsidiaries viz. Promoted the Bank jointly National InsuranceCompany Ltd., The New India
Assurance Company, The Oriental Insurance Corporation and United Insurance Company Ltd. The
Bank today is capitalized to the extent of Rs. 230.88 Crore with the public holding (other than
promoters) at 45.63%.

The Bank's Registered Office is at Ahmadabad and its Central Office is located at Mumbai. Presently
the Bank has a very wide network of more than 200 branch offices and Extension Counters. The Bank
has a network of over 2010 ATMs providing 24hrs a day banking convenience to its customers. This is
one of the largest ATM networks in the country. The Bank has strengths in both retail and corporate
banking and is committed to adopting the best industry practices internationally in order to achieve
excellence

1.8 HISTORY OF AXIS BANK

Axis Bank, previously called UTI Bank, was the first of the new private banks to have begun
operations in 1994, after the Government of India allowed new private banks to be established. The
Bank was promoted jointly by the Administrator of the Specified Undertaking of the Unit Trust of
India (UTI-I), Life Insurance Corporation of India (LIC), General Insurance Corporation Ltd.,
National Insurance Company Ltd., The New India Assurance Company, The Oriental Insurance
Corporation and United Insurance Company Ltd. UTI-I holds a special position in the Indian capital
markets and has promoted many leading financial institutions in the country. As on the year ended
March 31, 2006 the Bank had a net worth of Rs. 2872.19 crores with the public holding (other than
promoters) at 56.65%. Net Profit for the year was up 44.98% to Rs485.08 cores.
Axis Bank stands apart from its private sector competitors — ICICI Bank and HDFC Bank — in one
crucial respect. While the other two banks have envisaged retail banking as a key area of strategic
emphasis — with the share of the retail business (both on the funding and asset sides)growing strongly
year after year— the share of retail business, particularly retail assets, has actually come down quite
sharply in the case of Axis Bank. The numbers here are quite interesting. For ICICI Bank, retail loans
now (as of June 2007) account for as much as 70 per cent of the bank’s total loan book of Rs 2,00,000
crore. For HDFC Bank, retail assets are around57 per cent (Rs 28,000 crore) of the total loans as of
March 2007.

In the case of Axis Bank, retail loans have declined from 30 per cent of the total loan book of Rs
25,800 crore in June 2006 to around 23 per cent of loan book of Rs.41,280 crore (as of June 2007).
Even over a longer period, while the overall asset growth for Axis Bank has been quite high and has
matched that of the other banks, retail exposures grew at a slower pace. If the sharp decline in the
retail asset book in the past year in the case of Axis Bank is part of a deliberate business strategy, this
could have significant implications (not necessarily negative) for the overall future profitability of the
business.

Despite the relatively slower growth of the retail book over a period of time and the outright decline
seen in the past year, the bank’s fundamentals are quite resilient. With the high-level of mid-corporate
and wholesale corporate lending the bank has been doing, one would have expected the net interest
margins to have been under greater pressure.

The bank, though, appears to have insulated such pressures. Interest margins, while they have declined
from the 3.15 per cent seen in 2003-04, are still hovering close to the 3 per cent mark. (The
comparable margins for ICICI Bank and HDFC Bank are around 2.60 per cent and 4 per cent
respectively. The margins for ICICI Bank are lower despite its much larger share of the higher margin
retail business, since funding costs also are higher). Such strong emphasis and focus on lending also
does not appear to have had any deleterious impact on the overall asset quality.

The bank’s non-performing loans are even now, after five years of extremely rapid asset build-up,
below 1 per cent of its total loans. From a medium-term perspective, it appears that Axis Bank could
be charting out a niche for itself in the private bank space. It appears to be following a business
strategy quite different from the high-volume and commodity-style approach of ICICI Bank and
HDFC Bank. That strategy also has its pluses in terms of the relatively higher margins in some
segments of the retail business and the in-built credit risk diversification (and mitigation) achieved
through a widely dispersed retail credit portfolio.

But, as indicated above, Axis Bank has been to able to maintain the quality of its loan portfolio
despite the concentrated nature of wholesale corporate lending. The Bank today is capitalized to the
extent of Rs. 357.48 crore with the public holding (other than promoters) at 57.03%. The Bank's
Registered Office is a Ahmadabad and its Central Office is located at Mumbai. Presently, the Bank has
a very wide network of more than 608 branch offices and Extension Counters. The Bank has a
network of over 2595 ATMs providing 24 hrs a day banking convenience to its customers. This is one
of the largest ATM networks in the country. The Bank has strengths in both retail and corporate
banking and is committed to adopting the best industry practices internationally in order to achieve
excellence. Axis Bank continued its robust growth in the December 2007 quarter and has once again
beaten analysts’ expectations on all parameters.

However, the difference this quarter is that the growth in profitability has been driven more by a
significant jump in the net interest income (core business) rather than non-interest income unlike in
last several quarters. Net interest income leaped by 91 per cent y-o-y to Rs 747 crore—the highest in
the past four quarters—as advances and deposits grew by 50 per cent and 35 per cent respectively and
also there was an increase in net interest margin (NIM). Its NIM went up by 63 basis points q-o-q and
91 basis points y-o-y to3.91 per cent. This was because of a jump in yield on advances while CASA
(current and savings account) was maintained at 45 per cent sequentially. Though other income went
up 74 per cent y-o-y to Rs 488 crore, it was still lower than the 87 per cent growth reported in the
September 2007 quarter. The bank’s fee income increased by 81 per cent to Rs 348 crore and trading
profits were up 65 per cent to Rs 131 crore in Q3. All these factors led to doubling of operating profit
to Rs 672 crore while operating expenses went up 67 per cent. However, its net profit grew relatively
slower at 66 per cent to Rs 307 crore as provisions and contingencies went up 290 per cent and a 68
per cent jump was recorded in tax provisioning. However, growth in net profit is still higher than
previous three quarters and has been higher than expectations.
 1.9 Vision of AxisBank
To be the preferred financial solutions provider excelling in customer delivery through insight,
empowered employees and smart use of technology

1.10 Core Values of Axis bank

 Customer Centricity
 Ethics
 Transparency
 Teamwork
 Ownership
1.11 Reasons for the bank to change its brand name

Bank has done this partly because there are shareholder-unrelated entities that carry the UTI brand,
which was becoming increasingly untenable. If there are no shareholder relations between the two
organizations, how can they actually share a common name? When UTI was split into two
vehicles, the brand was given to UTI Mutual Fund and others were permitted to use the brand only
till January 2008.

When it became clear to the bank that it was no longer tenable, they decided to have a brand of
our own. The name Axis was chosen as it means a line of reference, around which everything is
measured. Their feeling is that with time, people will think of the bank brand as Axis Bank. The
tough test was whether in the next six months people would forget old name or not. Otherwise,
nothing has really changed in the bank. They raised capital worth Rs 4,500 crore, which helped
Axis Bank to start off on a strong footing. They feel that this capital would last at least for three
years in the case of pure organic growth.

The UTI brand had a quasi-government sovereign ring to it, especially when it goes outside
metros. It was an advantage, then why bank have taken this decision on cost of losing it?Bank’s
customer base is very different from the customer base of a mutual fund. So they have never really
able to ride on the brand. The pace at which customer base have grown indicates the level of
customer service bank provide.

Also, the UTI brand was seen as apublic sector brand. They were board-managed private sector
entity. By changing the name, Bank has reinforced this image.

1.12 INNVOVATIONS IN SERVICES AND PRODUCTS SINCE THE BEGINNING

1. FASTag Overview
FASTag is a perfect new-age solution for payment at toll plazas. It is a contactless toll collection
system that allows cashless payment using Radio-frequency Identification (RFID) technology. By
affixing an active FASTag on your vehicle’s windscreen, you can pass through toll plazas without
stopping for physical cash transactions.
FASTag is a simple to use, reloadable tag, which enables automatic deduction of toll charges from
its linked bank account. You can get your FASTag from any of Axis Bank’s 4000+ branches, or
 apply online and have it delivered to youFASTag is Promoted by MORTH (Ministry of Road
Transport and Highways), NHAI (National Highways Authority of India), IHMCL (Indian
Highways Management Company Limited) and NPCI National Payments Corporation of India).
 Cashless payment
 Save on Fuel & Time
 Doorstep Delivery
 2.5 % Cash back Incentive

2. PAYPRO
PayPro is a comprehensive solution for customers, which enables them to process all electronic and
physical payments through a single file upload mechanism. This platform allows a corporate user
to upload files containing multiple transactions having different payment modes like Direct Credit,
RTGS, NEFT, IMPS, Demand Draft printing and Customer cheque printing. The corporates have
the option of printing cheques at Axis bank location or at their own premises.

3. Safe Deposit Locker

Axis Bank's Safe Deposit Locker relieves you of all your safety concerns regarding your
valuables. Book the Axis Bank Safe Deposit Locker online and choose the locker size of your
choice. The benefits of Safe Deposit Locker include convenient locker rent payment options,
nomination for hassle-free release of locker contents and much more. Axis Bank locker
facilities are available in over 2,000 branches.

4. National Pension System (NPS)

National Pension System is an investment cum pension scheme initiated by Government of

India to provide old age security and pension to all citizens of India. It is an investment tool
that provides market –based returns. Axis Bank has been appointed by PFRDA to acts as one
of the Points of Presence (POP) for NPS. There are two models available under NPS :
  All Citizen Model- Available to all citizens of India
 Corporate Sector Model- Provide NPS benefits to the employee of corporate entities

5. Credit Cards

Axis Bank offers a wide range of Credit Cards for you to choose from. Each Credit Card offers
unique features and benefits, along with unmatched privileges. From Flipkart gift vouchers to Axis
EDGE REWARDS points, you can earn a host of rewards with your Axis Bank Credit Card. Here
are few different types of credit cards provided by Axis Bank:

 IndianOil Axis Bank Credit Card

 Flipkart Axis Bank Credit Card
 Axis Bank FreeCharge Credit Card
 Axis Bank Neo Credit Card
 Miles and More Axis Bank Credit Card
 Axis Bank Insta Easy Credit Card

6. Debit Cards

In a world going cashless, debit cards are your best friends! Free yourself from carrying around
rolls of cash everywhere you go. Withdraw cash from your account as and when you require it
with Axis Bank debit cards and receive exclusive benefits, from free movie tickets to restaurant
discounts. Choose from a range of debit cards according to your daily withdrawal needs. Enjoy a
secure and fast shopping experience every time. Various types of debit cards are provided by Axis
Bank out of which few innovative ones are given below:

 Burgundy Debit Card

 Delight Debit Card
 Online Rewards Debit Card
 Rewards+ Debit Card
 7. Digital Payments

Digital payments are technically defined as any payments made using digital instruments.

In digital payment, the payer and the payee, both use electronic modes to send and receive money.
No hard cash is used.

i. Samsung Pay
Samsung Pay is a mobile payment and digital wallet service by Samsung Electronics that
lets users make payments using compatible phones and other Samsung-produced devices. ...
In countries like India it also supports bill payments.

 Benefits Secure : Wide acceptance / Easy to use

 Top Features: Safe and simple way to pay anywhere with your Samsung Phone

ii. Bharat QR

BharatQR, developed by NPCI, Mastercard, and Visa, is an integrated paymentsystem in India.The

money transferred through BharatQR is received directly in the user's linked bank account. It
provides a common interface between RuPay, Mastercard, Visa, American Express as opposed to
other such systems used by startups and is interoperable with all the banks.

 Benefits :Safe / Convenient / Everywhere

 Top Features :Scan and Pay Everywhere

8. Forex
 Forex Card

Our various Forex products let you buy, sell and manage foreign currency of different denominations,
at the best rates, with quick and secure banking transactions.

 Multi-CurrencyForex Card
Axis Bank offers Multi-Currency Forex Card which offers convenient, hassle-free payments in
order to make your foreign travel a memorable experience. You can use this prepaid foreign
currency card to pay in 16 countries and make hassle-free everyday purchases while abroad! With
the contactless money card, you can just wave and pay. Other features and benefits of the Multi-
Currency Forex Card include being protected from currency fluctuations, being valid for multiple
trips and being able to avail special offers. The Forex Card is the perfect travel partner when you
are going abroad. The advantages of owning a Forex card has been listed down below.

 World Traveller Forex Card

The Axis Bank World Traveller Forex Card is the perfect travel companion for the Indian
globetrotter! You can earn award miles for loading and each time you spend using the Travellers
Forex Card. The Forex Card accepts 17 of the most widely used currencies and can be used across
30 million retail and 1,00,000 e-commerce sites. With the World Traveller Forex Card, you do not
have to go through the hassle of getting different currencies for different countries each time you
travel. The World Traveller Forex Card also lets you enroll in the Miles & More membership
program.

 International Fund Transfer

 Online Fund Transfer
 Foreign Currency Cash
 Foreign Currency Demand Drafts

9. Investments
 Mutual Funds

Axis Bank’s mutual funds recommendation has a strong research driven premise. Pick the best
mutual fund schemes based on qualitative and quantitative parameters. Need expert advice
when it comes to sifting through mutual funds schemes? Then you are at the right place! Find
out benefits of mutual funds with our relationship managers who will aid you in your financial
planning process and also help you make good investment decisions, anytime you may need
help.

 Demat Account

The Axis Bank Demat Account enables easy conversion of shares from physical holdings to
electronic units along with simplified transfer, settlement, and overall management of shares.
This online demat account allows you to access your holdings and transactions from anywhere
using Internet Banking or Mobile App. The Demat Account features and benefits include easy
dematerialisation and rematerialisation of shares, easy share transfer and management,
corporate benefits like automatic electronic transfer of dividends and interest. It also gives you
the option of pledging your electronic shares to avail a loan.

 E-Depository Services
Axis Bank offers its customers e-Depository Servicesas a part of its capital market services.
Axis e-Depository servicesisaninternet based service which lets Demat Account holders and
brokers submit delivery instructions online using a service called Speed-e. You can also
view the status of your delivery instructions on the Speed-e website.The Axis e-Depository
also offers the Dial-Your-Demat facility which lets you access your demat account via
phone from any of our access centres. The Dial-Your-Demat service is available 24X7, 365
days a year.

 7.75% Savings Bonds

7.75% Savings (Taxable) Bonds 2018 allow customers to make convenient investments with
low-risk returns. The features and benefits of the Savings Bonds include the option of
choosing between cumulative and non-cumulative bonds, high interest rates, and a longer
maturity period. The minimum investment amount is Rs.1,000 and in multiples of Rs.1,000
thereof, there is no upper limit on investment for these Bonds. The interest on these Bonds is
taxable.

10. Public Provident Fund

 The Public Provident fund (PPF) that not only offers tax exemption on principal but also on
interest. Some of the advantages of PPF investments are that you can enjoy high interest rates
with minimum risks. Moreover, you can also enjoy loan facilities and partial withdrawals. You
can also check your balance, transfer funds and view mini statements online, anywhere and
anytime!

11. IPO SMART

The Axis Bank IPOSmart service allows you to apply for IPOs without letting go of your
funds, and continue earning interest on them. With IPOSmart, you can invest in IPOs without
using cheques and DDs as the bank with directly allot payments as required. The Axis Bank
IPOSmart Features and Benefits include convenient and transparent management of funds.
IPOSmart allows for instant release/unblocking of funds after allotment/non-allotment of
shares while giving you the option to authorize your bank to make payments in case of
allotments, removing the need for cheques or DDs.

12. KisanVikasPatra

Then the KisanVikasPatra is just what you need! Regardless of the market fluctuations, you
will get the sum invested guaranteed with double the amount at the end of the maturity period.
It is a low-risk savings option

13. Travel Insurance

I. Travel Guard Insurance for Overseas Travel

 Accident Sickness CoverA benefit for each day you are an inpatient in a hospital due to
injury or sickness.
 Personnel ProtectionGlobal Protection policy valid 24 hours a day, 365 days a year
 Other BenefitsYou need no medical certification, whatever your age.

II. Student Travel Insurance

  Accident Sickness CoverAccident& Sickness Reimbursement limits of $50,000, $100,000
and $250,000
 Personnel ProtectionUnique Global Security Service by Red24 providing advice on personal
risks across all plans
 Other BenefitsRelocation Support Program for the 365 day

14. BURGANDY WEALTH MANAGEMENT

The best-in-class products and solutions are carefully selected by Burgundy’s in-house research
team, a formidable panel of economists, equity researchers and product experts. who will analyze
your assets and portfolio, take into consideration the prevalent market conditions, and then
recommend solutions that optimize your wealth journey.At Burgundy, you’ll enjoy the highly
personalized, expertise-driven approach of an investment houses, with the stability and execution
abilities of one of India’s largest private sector banks. You will be supported by the entire Axis
franchise and have access to a wide array of investment instruments.We live by a maxim; there is no
such thing as a right solution, there are only solutions that are right for you.

15. Axis OK
Axis OK is a secure mobile app which helps you do banking on any android device even without
internet services. Axis OK provides a fast interface that is simple to understand and use.

How to get started with “Axis OK”

 Download the “Axis OK” application on your Android device from the Google Play Store
 The application is ready to use without any prerequisite registration
 The request received should be from the mobile number registered with the bank
 In case of dual-SIM phones, please make sure that the mobile number registered with Axis Bank is
to be inserted in primary sim slot to be able to use Axis OK

16. BHIM Axis Pay UPI App

Unified Payments Interface (UPI) is a platform provided by the National Payments Corporation of
India (NPCI) to facilitate inter-operability amongst various banks. It’s a one-stop solution for
 multiple bank accounts. It allows all account holders to send and receive money using their
smartphones a single identifier – virtual payments address (VPA) commonly known as UPI ID –
without entering any bank account information. Therefore, customers do not need to know the
payee's or payer’s IFS code, bank account details, etc. and this makes the process simpler. So
customers can make faster payments to their peers and merchants.
Our UPI services for customers (peer–to peer and peer-to-merchant payments) are present across
various platforms, including:
 BHIM Axis Pay
 Axis Mobile
 Google Pay
 Amazon
 Uber
 Ola
 Freecharge

17. Axis Remote Banking

Axis remote banking makes your banking experience simple and hassle-free by dedicating a digital
relationship manager for your service at all times. Avail remote banking services at the comfort of
your home or office and get all your queries answered. Along with this, avail benefits by using the
remote banking services of Axis.
Axis remote banking brings the privileges of remote banking services right under your roof, at
your convenience and fulfils all your financial needs.

18. Central Government Interest Subsidy Scheme for Economically Weaker Section for
Education Loans

Axis Bank offers Education Loans to students belonging to the Economically Weaker Section as per
the Central Government Interest Subsidy Scheme. Find out more about the Education Loan Subsidy
Scheme offered by Axis Bank below: Government of India, Ministry of HRD vide letter no. F. 11-
4/2010 – U.5(i) dated 25th May 2010 has formulated a scheme to provide full interest subsidy during
the period of moratorium i.e. course period plus one year or six months after getting a job, whichever is
earlier. This scheme is available for education loans taken by students belonging to economically
weaker sections (EWS) (where annual parental income from all sources is up to and inclusive of Rs.
4.5 lakhs) under the IBA approved Model Educational Loan Scheme, for pursuing any of the approved
courses of studies in technical and professional streams, from recognized institutions in India.

19. Universal Bank Offering

Axis Bank offers a wide range of Universal Bank Offering solutions as part of its Correspondent
Banking and FI Services. Axis Bank’s Correspondent Banking Services include Treasury
Solutions, Credit and Financing Solutions, Transaction Banking, Capital Markets, Global
Payments and Corporate Cards.

 TreasurySolutions
Axis Bank offers a range of Treasury Management solutions to meet your funding & Investment
requirements. Further, you can benefit from our market standing in forex and derivatives space.

 Credit and Financing Solutions

We provide credit and capital to suit your needs at competitive pricing. Our product offering
includes working capital finance, term loans, trade services, structured finance and supply chain
financing designed to ease your liquidity position.
 Transaction banking
Axis Bank offers a comprehensive suite of products and services to meet your business
requirements including Trade &Forex Services, Business Current Accounts, Salary
Accounts,and Cash Management Services. We offer tailor-made solutions at competitive pricing.
Technology-backed processes ensure quick turnaround time.
 Markets
We provide you with Debt & Equity solutions, M&A, Depository & Advisory services to meet the
complex business requirements in today’s dynamic markets.
 Payments
We have set-up a robust infrastructure for processing payments from across the world. Over time,
we have developed expertise in processing cross-border payments and providing technology-
backed innovative payment solutions. We would like to partner with you for providing local
 clearing services. We customize our offering for you. Our customer service and processing
rates are among the best in the country.

 CardsAxis Bank offers Corporate Cards and Travel Currency Cards with a host of
unparalleled benefits.