A PROJECT ON “EDUCATION LOAN SCHEME OF ABHUDAY ABHU DAYA A BANK” BANK ” SUBMITTED TO THE UNIVERSITY OF MUMBAI IN PARTIAL FULFILLMENT FOR THE AWARD OF THE DEGREE OF BACHELOR OF COMMERCE (BANKING AND INSURANCE) SEMESTER V (SEAT NO:
BY NIYATI SHREEKANT WARKAR THE S.I.A COLLEGE OF HIGHER EDUCATION 2!"#2!$
)
DECLARATION DECLARATION BY THE RESERCH STUDENT ““EDUCATION EDUCATION LOAN SCHEME OF I hereby declare that this project titled ““ ABHUDAY ABHU DAYA A BANK” BANK ”. Submitted by me is based on actual work carried out K ANDALKAR. LKAR. by me under the guidance and supervision of MR.MAHESH KANDA
Any reference reference to work work done by any any other person person or institution institution or any material obtained from other sources have been duly citied and reference. It is in future to state that this work is not submitted anywhere else for any examination.
SIGNATURE OF STUDENT
(NIYATI WARKAR)
ACKOWLEDGEMENT
MAHESH.G.KANDALKAR for his I am thankful to Professor MR. MAHESH.G.KANDALKAR valuable guidance in successful completion of this project.
My over riding debt due to our Principal MRS. D%. PADAMAJA PADAMAJA ARVIND MAM and librarian MRS.BHARATI RAO MAM . ast but not the least I cannot forget my friends and my parents whose constant encouragement and support made this task a happy job.
SIGNATURE
NIYATI NIYATI SHREEKANT SHRE EKANT WARKAR (THIRD YEAR BACHELOR OF COMMERCE) (BANKING AND INSURANCE)
T&' SIA C'*' O+ H,*&'% E-/01,. P334 MIDC R'5,-'1,0 A%'0 D67,8, G96&00 R0-4 N'0% B00;, M0-,%4 D67,8, (E051). <2! 2=. E60,:
[email protected]
!"#$I%I!A$" $his is to certify that& Mr. 'I(A$I S)#""*A'$ +A#*A# Student of ,!-M ,anking and Insurance /0 1234536 Seat 'o. 'o. has successfully completed his Project +ork on "78! "7 8!A A$II-' ' -A' A' I' I' A,) A,)87 87A A(A ,A ,A'* '* unde underr the the guid guidan ance ce of P#-% .M#. .M#. MA)"S).9.*A'7A MA)"S).9.*A'7A*A# *A# as per Mumbai 8niversity syllabus.
COURSE CO#ORDIN CO#ORDINA ATOR
E>TERNAL E>AMINER
PROJECT GUIDE
PRINCIPAL
INDEX CHAPTERS NO.
CHAPTERS NAME
PAGE NO.
1.
INTRODUCTION OF TOPIC
6
2.
REVIEW OF LITERATURE
12
3.
RESEARCH & METHODOLOGY
39
4.
DATA ANALYSIS & INTERPRETATION
51
5.
CONCLUSION
63
6.
BIBLIOGRAPHY
65
CHAPTER !
INTRODUCTION
TITLE
THE PROJECT ON
EDUCATION LOAN SCHEME O A!HUDA" A!HUDA "A !AN#
I6?%10/' + 0 5/&'6':
$he project helps helps us in understanding understanding the clear clear meaning of education education loan facilities provided in ,ank of Abhudaya . It explains about the various loan scheme in banks.
,y the analysis of Abhudaya ,ank we get to know about different types of loan scheme involved in ,ank and the importance of loan scheme in today:s banking sector . $o find out various loan schemes of Abhudaya ,ank and how they are used to solve the problems of customer customer and to be profitable to the bank. #esearch and methodology is being used for collection of primary and secondary data.
O7;'/1,8' + 51-9:
$o study about the loan schemes.
$o know the process of education loan scheme .
$o identify the benefits of "ducation loan schemes to students.
$o find out the customer response and extent of the education loan scheme provided.
S/?': It was just a month back when #eserve ,ank 9overnor #aghuram #ajan while answering ;ueries about educational loans explained the role of central bank in improving the ;uality of student loans. 7espite high level of defaults in repayment of loans taken by students to pursue higher education the governor empathises with the students while informing the media about the various issues and loops in the system of student loans disbursed. !ases of students defaulting on loan payments prompted Indian ,ankers Association to review the education loan scheme. +e explore what this means for students. "ducation loan is becoming popular day by day because of rising fee structure of higher education. It came into existence in 3<<= started by S,I ,ank and after that many banks started offering student loan. $he Indian banking sector began giving education loan from 1223 onwards. ,ut recently& in the wake of increasing 'on Performing Assets 'PA0 on educational loans& the Indian ,ankers Association I,A0 has revised the educational loan scheme& framed in 1223. $hough the situation is far from worrying& banks have been advised to be prudent and cautious while granting educational educational loans. %or % or instance& State evel ,ankers> !ommittee S,!0 !hairperson 8sha Ananthasubramanian sent a strong message to banks in Punjab and )aryana when she told in a committee meeting that&?$he non5performing assets level is certainly on the higher side in case of education loan advanced collateral free. -nly the meritorious rather than the deserving candidates should be considered for granting education loan.@
L,6,101,5 + 51-9:
Area
for survey survey is restricted restricted upto 7ombivli+"S$0 branch.
Sample sie was restricted upto =2 customer.
!ollecting secondary data was time consuming.
7ifficulties were faced while collecting the primary data.
CHAPTER 2
RE$IE% O LITERATURE
A7&9-090 C#?'%01,8' B0 L1-
Abhyudaya ,ank T9?': !o5-perat !o5-perative ive I-51%9 : ,anking %inancial services F-'- : Bune 3<4= H'0-@0%1'%5 : Mumbai& India
Puneethkumar ar #aju Shetty K'9 ?'?' : Puneethkum managing director0 P%-/15 : %orex C trade&Mortgages&7emat Services
internet banking #evenue #eve nueDD E₹3F3& 3F3&G=1 G=1.HGG .HGG milli million8 on8S1. S1.2 2 billion01231J3F0 <31. 1.36 366 6 mi millllio ion n 8S3G million01231J3F0 N'1 ,/6' : E₹<3 W'75,1' : www.abhyudayabank.co.in
HISTORY + A7&9-090 C#O?'%01,8' B0 $he ,eginningD A dedicated group of social workers workers and labour labour movement activists& imbued imbued with the spirit of service to the cause of mill workers& other industrial and hitherto neglected economically weaker sections of society started Abhyudaya !o5op. !redit !redit Society td. td. in 3<4G& with with a small share share capital of #s. =&222. $he area of *alachowki& Sewri& Parel and their surroundings were predominantly populated by low income industrial labour and lower middle class people at that time. In a short period of time Abhyudaya !o5 op. !redit Society got converted into an 8rban !o5op. ,ank. %inally in Bune 3<4=& Abhyudaya !o5op. ,ank td. was established full5fledged co5 operative ,ank.
A %orward MarchD $he ,ank was conferred with Scheduled ,ank Status by #eserve ,ank of India in September 3
BRANCHES BRAN CHES OF ABHUDAY ABHUDAYA A BANK
It has branches in Metropolitan Mumbai& 'avi Mumbai& Pune& $hane& #aigad& 'agpur& 'ashik& 'anded& *ankavali and Aurangabad in Maharastra State& /adodara and Ahmedabad in 9ujarat State& 8dupi and Mangalore in *arnataka State. $he area of operation of the bank is confined to F States •
Maharashtra
•
9ujarat
•
*arnataka.
$he ,ank further proposes to extend its area of operation to other States. Abhyudaya !o5opera !o5operative tive ,ank td td has 33 333 computeried computeried branches branches in India
PRODUCTS PROD UCTS OF ABHUDAY ABHUDAYA A BAN BANK K
DEPOSITS SCHEME OF BANK
S08,*5 A//1 + 1&' B0 $he bank has only one type of Saving Account which re;uires maintenance of a minimum balance of #s.F22 which also happens to be the minimum amount of money re;uired to initially open the account. $he account renders all the basic banking transactions and earns interest KGL p.a. which is calculated on the daily balances maintained in the account and credited every half5year in March and September.
T'%6 D'?5,1 S/&'6'5 + 1&' B0 $he Abhyudaya !o5-perative ,ank imited offers a range of 5, 19?'5 of deposit schemes and any scheme can be chosen by individuals for saving purposes. $he schemes offered are the followingD M1&9 I/6' D'?5,1 S/&'6' an account re;uiring a minimum
deposit of #s.=22 for opening and interest on the deposit is payable monthly either in cash or through credited the account held by the depositor. $he customer can also avail a loan of up to <2L against his deposits. 0%1'%9 I1'%'51 D'?5,1 S/&'6' in this scheme the minimum deposit
re;uirement is also #s.=22 and interest is paid ;uarterly through cash or account credit. oans up to <2L of the deposit value can also be taken in this scheme of deposit. F,'- D'?5,1 R'/',?1 a traditional fixed deposit account where the
interest is paid along with the principal on the date of maturity of the deposit. $he minimum deposit re;uired to opt for this scheme is #s.=22. 0%1'%9 I1'%'51 C6 R',8'516'1 P0 with only #s.=22& one can
open this account. Interest will be earned ;uarterly and reinvested with the
deposit to earn further interest. oan is also available against the deposit up to a maximum limit of <2L. R'/%%,* D'?5,1 S/&'6' in this scheme the depositor has the facility
to make monthly deposits of smaller amounts which would cumulate into a large corpus. $he account can be opted with a minimum monthly deposit of #s.=2 and loans up to <2L can also be availed on the deposits. A7&9-090 10 S08,* S/&'6' a scheme of fixed deposit designed
with the objective of saving tax under Section H2!. $he minimum value of deposit should be #s.=222 and the deposit has to be held for a minimum tenure of = years to make it eligible for tax exemption. $he fixed deposits earn a rate of interest which depends on the tenure chosen. $he general range of interest rates for the bank>s fixed deposit schemes is 4.=2L to H.=2L. Senior citiens get an additional interest rate which can be 2.1=L or 2.=2L with the latter being more common.
L0 S/&'6'5 + 1&' B0 $he Abhyudaya !o5-perative ,ank imited also has multiple types of loan schemes for varied re;uirements and purposes. $hese includeD P'%50 L0 a loan granted to meet expenses of a personal nature like
buying gadgets& furnishing a home& marriage expenses& etc. $he maximum available amount of loan is #s.= lakhs which should be repaid within = years S?'/,0 C05& C'%1,+,/01' F0/,,19 +% S00%9 E0%'%5 individuals earning
a salary can avail of this facility which is granted for F4 months up to a maximum of #s.=2& 222 H5,* L0 loan given to fund housing expenses like buying or constructing a house& renovations& etc. $he maximum loan available is #s.62 lakhs which should be repaid within 1G2 months or 12 years E-/01, L0 loan granted to students for further education which
comes with an upper limit depending on whether education is sought in India or abroad. %or India& the maximum limit is #s.32 lakhs to be repaid in 32 or 3= years and for foreign education the limit exceeds to #s.12 lakhs to be repaid in 32 or 3= years V/01,0 V /01,0 E-/01, L0 J loan for the purpose of undertaking any
type of vocational education course approved by eligible authorities L0 0*0,51 P'-*' + G- O%06'15 gold loan which is offered
against the value of 11 *arat gold jewelry or ornaments. SOD 0*0,51 P'-*' + G- O%06'15 a secured overdraft facility
against 13& 11 or 1F karat 9old ornaments with a value of #s.1=& 222 to #s.3= lakhs and which has to be repaid within 31 months. L0SOD 0*0,51 G8'%6'1 S'/%,1,'5 government securities can
be pledged to avail a loan or a secured overdraft up to <2L of the value of the securities pledged.
L0 SOD 0*0,51 T' T'%6 %6 D'?5,15 term deposits held with the bank
can be pledged to avail loan which would be limited to <2L of the balance in the deposit account. V'&,/' V' &,/' L0 (P%,801') loan for buying a private vehicle for private
purposes with a maximum of #s.6= lakhs V'&,/' V' &,/' L0 (C66'%/,0)# loan granted to fund purchases of a
commercial vehicle to be used for commercial purposes with a maximum limit of #s.322 lakhs T0, # A1 L05 specific loans provided to buy a taxi or an auto. $he
maximum allowable amount is <2L of the on5road price of the vehicle L0 0*0,51 P%?'%19 loans up to #s.322 lakhs can be taken by mortgaging any private or commercial property O1&'% L05 some other
specialied loans areD S-7 against Immovable Property #ent Securitiation oan oans for repairsrenovations of flatshouses& Shops and 9alas oans C Advances to Medical Practitioners oans C Advances to other Professionals
I1'%'1 B0,* $hough the bank has a limited reach& yet it also has the facility of internet banking like its contemporar contemporaries. ies. "very customer customer of the bank is provided provided with a uni;ue user id using which the customer can log into his account and carry out banking transactions online easily. +hether it is making fund transfers& monitoring individual individual accounts& applying for loans or investing in fixed deposit schemes& internet banking has the solution for every need
S'%8,/'5 ++'%'- 79 7 9 A7&9-090 A7&9-090 C#?. B0 :
$he ,ank has launched its interactive website for easy accessibility of various products C services for its customers. ,ank has successfully implemented !ore ,anking Solution !,S0 technology& through this technology the bank is offering Any ,ranch ,anking Service to the customers. ,ank customers can transact cash& transfer of fund& clearing& remittances& etc. from any branch of the bank. ,ank is offering Abhyudaya #uPay 7ebit !ard which can be used for cash withdrawals& mini statements& balance en;uiry and can be used at Point of Sale terminals for merchant transactions. $he bank has offsite A$M>s installed at Abhyudaya 'agar C 9hatkopar. ,ank is providing all types of %oreign "xchange C Money $ransfer Services such as Money9ram C Npress Money. ,ank is also offering $ele5banking and Internet ,anking services. !ustomers of our bank can get monthly statement of account through email. ,ank has installed !ash 7eposit Machines at 'ew Panvel& /ashi C 'ehru 'agar& subse;uently ,ank will install !ash 7eposit Machines at other ,ranches. -n 1=th Bune 123=& ,ank is launching Mobile ,anking Services to its /alued !ustomers on the occasion of its =3st %oundation 7ay !elebration. ,ank has implemented Pradhan Mantri Ban57han (ojana PMB7(0 for achieving the national objective of %inancial Inclusion C providing banking services to common man. ,ank has launched Pradhan Mantri Beevanjyoti ,ima (ojana PMB,(0 C Pradhan Mantri Suraksha ,ima (ojana PMS,(0. ,ank has registered itself with !PSMS !entral Planned Scheme Monitoring System0 which is a project of 7ept. of& Ministry of %inanceO 'ew 7elhi for providing AA7)AA# based 7irect !ash $ransfer ,enefits Subsidies0 to the customers.
,ank is a part of !(%I !hild C (outh %inance International0 programme launched by Indian ,anks Association for education school childrens regarding basic banking product C services ,ank has implemented adopted other #,I Schemes such as #$9S& "!S& '"%$& Speed !learing etc. ,ank has taken corporate Agency of I! of India C $he 'ew India Assurance !o. td. And all types of life insurance policies of I! C general insurance policies of $he 'ew India Assurance !o. td. Are made available at our branches. -ut of 333 branches& == branches are rendering all seven days a week service to the customers. $he customers are free to operate on other banks A$Ms through '%S 'etwork of more than 1.12 akh A$Ms and customers of other banks can transact from 33G A$Ms machines installed by our bank. $he ,ank has offsite A$M>s installed at Abhyudaya 'agar C 9hatkopar. ,ank is also offering 7emat& Pan !ard %acility& C -nline $ax $ax Payment Services through network of our branches. In two branches vi. /ashi C 'ew Panvel :%ranking: facility has been made available for the general public.
ABHYUDAYA BANK IN PURSUIT OF GROWTH Shri Puneethkumar #. Shetty D Managing 7irector Shri #ajeev 7. 9angal D !hief 9eneral Manager Shri Prasanta *. Mohapatra D 9eneral Manager I$ & $reasury C !learing 0 Shri Sonudas A. 'aik D 9eneral Manager 7evelopment C *(!AM0 Shri !amillo %. %ernandes D 9eneral Manager )#M C Accounts0 Shri. Premnath S. Salian D 9eneral Manager !redit C %orex 0 Shri Anil *. 'ikam D 7eputy 9eneral Manager Pune one C #egional -ffice 8dupi0 Shri ,haskar M. Shetty D 7eputy 9eneral Manager +estern one C #egional -ffice Ahmedabad0 Shri Anthony P. 'aronha D 7eputy 9eneral Manager !entral aw0 Shri Pradeep /. *amat D 7eputy 9eneral Manager egal and #ecovery0 Shri 9irish /. #ane D 7eputy 9eneral Manager !entral one 0
BOARD OF DIRECTORS OF BANK
E-/01, L0 Abhyudaya !o5opera !o5operative tive ,ank imited imited offers offers two types types of "ducation "ducation oan schemes to students.
-ne loan is for higher studies taken in India or abroad while
the other one is for /ocational courses and training.
S/&'6'5 +% E-/01, L0 +% &,*&'% '-/01, , I-,0 0- A7%0A7%0-
E-/01, L0 F'01%'5: $he loan can be taken to fund studies undertaken either in India or abroad$he eligible courses for Indian studies include approved courses which result in graduation& post5graduation degree or diploma courses which are conducted by universities or colleges recognied by 89!& 9overnment& AI!$"& AI,MS& I!M#& etc.& specialied courses like !A& !S& !%A& etc.& courses conducted by known institutes like IIMs& IISc& 'I$s& II$s& 'I%$& 'I7& N#I& etc.& a regular degree or a diploma course in fields like aeronautical& pilot training& shipping& etc. if the courses are approved by the 7irector 9eneral of !ivil Aviation or Shipping and the course is taken in India& approved courses in Indian which are offered by reputed foreign institutes.%or studying abroad the courses which are covered under the scope of the loan include job5oriented professional or technical courses in graduation which are offered by reputed institutes& post5graduation courses like M,A& A!A& MS& etc.& courses conducted conducted by known institutes like !IMA& ondon or !PA& 8SA& degree or diploma courses in specialied fields of aeronautical& pilot training& shipping& etc. which are recognied by competent authorities in India or abroad and are conducted with a purpose of granting jobs in India or abroad.$he expenses which the loan covers include the college& school or hostel fee& any examination& laboratory or library fee& related travel expenses or passage money re;uired for studying abroad& cost of books& e;uipment& instruments or uniforms& any insurance premium for the student borrower& any sort of !aution 7eposit& #efundable 7eposit& ,uilding %und& etc. if it is supported by the institute>s bills and receipts& cost of the computer which may be re;uired to complete the course& other course related expenses like undertaking study tours or
thesis work& etc.%or studying in India& the maximum allowable limit of loan is #s.32 lakhs and for studying abroad& the limit is extended to #s.12 lakhs$here is a repayment holiday when the loan is not re;uired to be serviced. $his period is called the moratorium period and is e;uivalent to the course year plus one year or 4 months after getting a job& whichever is earlier.$he loan if taken up to the value of #s.6.= lakhs should be repaid within 32 years and loans above this value should be repaid within a maximum period of 3= years. )owever& the total repayment period of the loan including the moratorium period must not exceed 12 years.$here will be a concession of 3L in the interest rate chargeable if the student services the interest part of the loan during the moratorium period%or loans up to #s.G lakhs& the bank does not re;uire any margin. %or loans higher of this value& =L margin for Indian education and 3=L margin for foreign education is re;uired#egular membership would be re;uired for the applicant and the co5applicant and the charge would be 3L of the amount of loan sanctioned with a minimum of #s.3222 and a maximum of #s.1=22. sureties can make do with nominal membership of #s.322%or loans up to #s.G lakhs& parents would act as co5borrowers. oans above this amount would re;uire a security. oans above #s.G lakhs and up to #s.6.= lakhs would re;uire an additional collateral security in the form of two outside sureties acceptable to the bank. %or loans higher than #s.6.= lakhs& the security would be a tangible collateral security of a value e;ual to the loan& two outside sureties and the assignment of future income of the student to the bank. Parents would have to act as co5borrowers in all cases above.$here is no service charge on the loan$here is no prepayment penalty for prepaying the loan.
D/6'15 %'@,%'-: $he following documents should be submitted for availing the loanD atest photograph of the applicant Photo identity proofAddress proofPA' !ardParents and guardians having regular source of income so that they can pay the monthly interestA declaration or an affidavit stating that no other "ducation oans have been availed from anywhere elseAn offer letter from the university& college or institution stating the course details and the procedure of admission.Passport copy for seeking admission abroadatest mark sheets.
E,*,7,,19: $he student should comply with the following eligibility criteria to successfully avail the loanD )e or she should be an Indian 'ational.$he student should have obtained admission in a college or a university based on a merit5base merit5based d selection process or examination .
R01' + ,1'%'51 :
$he rate of interest charged on the loan depends on the gender of the student and the amount of loan availedD F% 795:
oans up to #s.32 lakhs charge an interest rate of 3FL per annum and loans above #s.32 lakhs charge an interest rate of 3GL per annum. F% *,%5:
oans of up to #s.32 lakhs would charge an interest rate of 31.=2L and loans of higher values would charge an interest rate of 3F.=2L per annum.
V/01,0 E-/01, L0 F'01%'5: $he loan is granted for vocational or skill development courses$he course could be of any duration ranging from 4 months to F years$he course should be conducted by a recognied State or !entral 9overnment institute& any statutory or technical body or any training department of the 9overnment. !ourses conducted by II$s& I$!s and Polytechnic institutes of the country come under this eligibility purview.$he course related expenses which are considered for the loan include the tuition or the course fee as fixed by the 9overnment or any authority appointed by the 9overnment& any examination& laboratory or library fee& caution deposit& cost of purchase of books& e;uipment& instruments& any other reasonable course related expenses.If expenses. If the course is taken in a private institute& the course fee payable by the loan would be 31=L of the course fee stipulated by the 9overnment.!ourse having durations up to a year could avail a maximum of #s.=2& 222 as loan while courses whose durations are higher can avail a maximum loan of #s.3.= lakhs. $his maximum limit of loan can be increased to #s.6=& 222 and #s.1 lakh respectively as per the discretion of the bank$he moratorium period under this loan scheme would depend on the course duration. %or courses up to 3 year& the period would be 4 months post course completion while for courses above 3 year& the period would be 31 months post the course completion of 4 months post getting a job& whichever whichever is earlier. earlier. $he repayment repayment tenure granted for for courses up up to 3 year is F years to = years while courses of higher durations would result in a repayment period of = years to 6 years. Margin is not re;uired to be maintained for the loan. A regular membership would be re;uired for the applicant and co5applicant of the loan which would be 3L of the loan taken or #s.1=22 whichever is lower. $he sureties would have to pay a nominal membership of #s.322. $he loan would re;uire the parents of the student to act as co5borrowers or joint applicants of the loan. $he loan has no
service charges re;uired to be paid Prepayment can be done anytime without any penalty.
D/6'15 %'@,%'-: $he following documents should be submittedD atest photograph of the applicant and co5applicantsA valid Photo identity proofA valid Address proofPA' !ardParents and guardians having regular source of income so that they can pay the monthly interestA declaration or an affidavit stating that no other "ducation oans have been availed from anywhere elseAn offer letter from the university& college or institution stating the course details and the procedure of admissionPassport copy for seeking admission abroadatest mark sheets
E,*,7,,19: $he following would be eligible for this scheme of loanD $he student must be an Indian 'ational$he student must have passed !lass N examinations conducted by the State or !entral ,oards$he student must have obtained admission in a 9overnment recognied vocational training course which would result in him getting a job.$he parents of the student must act as joint borrower. If the student is married& the spouse& parents or the parents5in5law can act as a joint borrower.
R01' + I1'%'51 $he /ocational "ducation oan would charge a 3FL rate of interest for boy students and a 31.=2L rate of interest for girl students.
EMI C0/01%
"very loan of the bank can be calculated to give the payable instalment through the bank>s "MI calculator facility facility which calculates the "MIs payable for the loan. -ne would have to provide the loan amount& the repayment tenure and the rate of interest in the re;uired fields and the instalment would be calculated. %or exampleD A loan for higher higher education education in India India taken by a male student student for #s.32 #s.32 lakhs and repayable within 32 years would attract a rate of 3FL and the corresponding correspon ding "MI would come to #s.3G&
CHAPTER =
RESEARCH & METHODOLO'"
R!"#$% "'(') Research is the systematic process of collecting and analyzing information (data) in order increase our understanding of the phenomenon about which we are concerned or interested. The following kind of projects usually don't make for good research:
selfenlightenment comparing data sets correlating data sets answer problems with yes!no answer
M*%+,+-+) The underlying and analysis of how research does or should proceed often influenced by discipline. "#n epistemology$ is a theory of knowledge. %t is the theory that decides what can be obser&ed.
TABLE Data collection
Primar' source
&uestionnaire
Secondar' source
E%ternal source
$nternal source
Surve' o#servations E%periments
Sales records
$nternet
!arketin activities Pu#lished data
Standardis ed
Cost in"ormation Distri#ution
Electroni
Printed Store audits
Government Trade associations Periodicals
Warehouse withdrawal Services
News papers
Consumer purchase
Books
Panels
Annual reports
Sinle source
P#("# S+/#$ rimary rimary source source is use to collec collectt initia initiall materi material al durin during g the resear research ch proces process. s. rimary data is the data that the researcher collects himself using methods such as sur&eys direct obser&ations inter&iews as well as logs. rimary data is the reliable way to collect data because the researcher we know where it came from and how it was collected and analyse since he did it himself. rimary sourness of information allows the learner to accesses original and unedited information. # primary source reuires the learner to interact with the source and e*tract information. P#("# D"*" $"' 0 )"*%#, 0 +--+(') *%+,!
+) -) /) 1)
,ur&e r&eys ues uesti tion onna nair ires es 0bse 0bser& r&at atio ion n 2*pe 2*peri rime ment ntss
S/# R!"#
%$,ur&ey research is one of the most important areas of measurement in applied rese resear arch ch.. The The broa broad d area area of sur& sur&ey ey rese resear arch ch enco encomp mpas asse sess any any measu measurem remen entt procedure that in&ol&ed asking uestions of respondent. # sur&ey can be anything from a short paper and predating feedback from to an intensi&e one on one in death inter&iew ,ur& ,ur&ey ey can can di&i di&ide de in to two two cate catego gori ries es:: the the ues uesti tion oner er and and the the inte inter& r&ie iews ws uestionnaires are usually are in the written format that the respondent completes. %nte %nter& r&ie iews ws are are comp comple lete ted d by the the inte inter& r&ie iewe werr base base on the the resp respon onde dent nt says says.. ,ometimes it3s hard to tell the difference between the uestionnaires and the inter&iew. 4or instance some people think uestioner always asked short closed 2nded uestions while inter&iews always asked openended once. 5ut you will see uestionnaires with open 6ended uestions and their will often be a series of closed ended uestions asked in an inter&iew. inter&iew. ,ur& ,ur&ey ey rese resear arch ch has has chan change ge dram dramat atic ical ally ly durin during g last last few few deca decade des. s. 7e ha&e ha&e #uto #utoma mate ted d tele teleph phon onee ,er& ,er&ic icee that that use use rand random om deal dealin ing g meth method odss ther theree are are computerized kiosks in public places that allow eople to ask input. # whole new &ariation of group inter&iew as e&ol&ed has focus group methodology. %ncreasingly %ncreasingly sur&ey research is tightly integrated with the deli&ery of ser&ice. 8our 9otel room has a sur&ey on the desk. %ndian railway and catering company presents a short customer satisfaction sur&ey when you Tra&el 5y a Railways. 8ou get a call for an inter&iew se&eral days after your last call to a computer company for technical assistance. 8ou 8ou are asked to complete a short sur&ey when you &isit a website. 7hen most people think of uestionnaires they think of the male sur&ey. #ll of us ha&e at some time or the other recei&e a uestionnaire in the mail there are many ad&antages in mail sur&eys. They are relati&ely ine*pensi&e to administrator. 8ou can send the e*act same instrument to a wide number of people. They allow the respondents to fill it out at their often &ery low. #nd mail uestionnaires are not the best &ehicles asking for the details return responses.
# second type is a group administrated uestionnaire. # sample of respondent is brought together and asked to respond to a structured seuence of uestions. Traditionally Traditionally The uestionnaire to that that was present and is fairly sure that there would be a height or a clarification. #nd there were often organizational setting where it was relati&ely as assemble the group.
7hat3s the difference between groups administrate uestionnaires and a group inter&iew or focus group. %n the group administrate uestionnaire each respondent is hand handed ed on inst instrum rumen entt and and aske asked d to comp comple lete te it whil whilee in the the room. room. 2ach 2ach Respondent completes its instrument in the group inter&iew or focus group the inter&iew facilitates the session. eople work has a group listening to each other comments and answering the uestions. ,omeone takes notes for entire group people don3t complete complete inter&iew indi&idually indi&idually..
# less 4amiliar type of uestionnaires is the household dropoff sur&ey. %n this #pproach researcher goes to the respondent home or business and handles the respondent the instrument. %n ,ome cases the respondent is asked to mail it back or the inter&iew returns to pick it up this approach attempts to blend the ad&antages of the mail sur&ey and the group administrate uestionnaire. ;ike the mail sur&ey respondent can work on the instrument in pri&ate when it3s con&enient. ;ike the group administrate uestionnaire the inter&iewer makes personal
$NTE()$EWS
%nter& %nter&iew iewss are person personal al form of resear research ch then then uesti uestionn onnair aire. e. %n the perso personal nal inter&iew inter&iew the inter&iewer works directly with the respondent. =nlike with the >ail sur&eys the inter&iewer has an opportunity to ro&e or ask followup uestions. #nd inter&iews are generally easier for the respondent especially if opinions or impres impressio sions ns are sought sought.. %nter& %nter&iew iewss can be &ery &ery time time consum consuming ing and they are reso resourc urcee inte intens nsi& i&e. e. The The inte inter& r&ie iewe werr is cons consid idere ered d part part of the the meas measure ureme ment nt inst instru rume ment nt an inte inter& r&ie iew w has has to be well well trai traine ned d in how how to resp respon ond d to any any contingency.
#lmost e&eryone is familiar to telephone inter&iew. Telephone inter&iew enables a researcher to gather information rapidly. >ost of the major public opinion polls that are reported based on telephone inter&iew. ;ike personal inter&iew they allow for some personal contact between the inter&iewer and the respondent. #nd they allow the inter&iewer to ask followup uestions. 5ut they also ha&e some major disad&anta disad&antages. ges. >any people people don3t don3t ha&e publically publically ;isted ;isted telephone telephone ?umbers. ?umbers. ,ome don3t ha&e telephones. eople often don3t like the intrusion of a call to their homes. #nd Teleph Telephone one inter&iews ha&e to be relati&ely short or people will impose upon.
SEC*NDA(+ SEC*NDA(+ S*,(CES
Secondary sources are edited primary sources, second-hand version. They represents thinking of someone else. Secondary Source are data that were collected by persons or agencies for purposes other than solving the problem at hand. They are one of the cheapest and easiest means of access to information. Hence, the rst thing a researches should do is to search for Secondary Source available on the topic. The amount of Secondary Source is overwhelming, and researchers have to locate and utilie the data that are relevant to their research. Secondary sources take the role of analying, e!plaining, and combining he information from f rom the primary source with additional information. Secondary Source analysis is commonly known as second-hand analysis. "t is simply the analysis of pre-e!isting data in a di#erent way or to answer a di#erent $uestion than originally intended. Secondary Source analysis utilied the data that was collected by someone else in order to further a study that you are interested in completing. "n contrast to Secondary Source, primary data comes from observations made by the researchers themselves. This often creates credibility issues that do not arise with Secondary Source.
,se o" Secondar' Source %. Secondary Source may actually provide enough information to resolve the problem being investigated. &. Secondary Source can be a valuable source of new ideas that can be e!plored later through primary research. '.
Secondary Source is of us in collecting primary data.
(. Secondary Source also helps to dene the population, select the sample primary information collection and dene the parameters of primary research. ). Secondary Source can also serve as a reference base against which to compare the validity or accuracy of primary data.
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The most signicant benet of Secondary Source is saving in cost and time. &. This involve very little time, e#ort and money compared to primary research. '. *ertain research pro+ects may not be feasible for a rm, recourse to Secondary Source will be the only solution. or e.g., "f a rm needs information on the entire population of some country, it will neither be physically nor nancially possible for the company to obtain it. (. Historical data is always Secondary Source. "f a rm wants to obtain information on something that happened in the past, it cannot conduct primary research to obtain it. ). "n some cases Secondary Source can be more accurate than primary data. or e!ample, if a company wants information on the sales, prots and so forth, of other companies, it can get more reliable information from government released sources than companies themselves.
Limitations Limitations o" Secondar' Sources espite many potential benets of Secondary Source, it has a number of limitation. %. roblems of t are likely to occur between the date re$uired for current research and the available data. &. The researchers have no knowledge of how the data were collected, not do they have any control over it. Therefore, they do not know anything anyt hing about its accuracy or its bounds of error. error. '. "t is also very di/cult to evaluate the accuracy of the data already collected (. "n many cases the Secondary Source may not be su/cient to meet the data re$uirement for the research at hand. Secondary Source can be outdate, and hence, cannot be used in current research.
Suita#ilit' The central problem of Secondary Source by which denition was not gathered for purposes of the present research. 0ay only partially part ially address the research $uestion. ata denitions, categories, levels of aggregation may di#er, if only slightly, from those re$uired, re$uired, time series many not be continuous. 1alidity of data may vary - government sources likely to be valid, 1alidity va lid, but company statistics may be unreliable, minutes of meetings may be 2messaged34 newspaper articles adhere to +ournalistic standards34 "ntegration of Secondary Source with each other and with primary data also an issue. *ommon sources of Secondary Source are social science surveys and data from government agencies, including the 5ureau of the *ensus, the 5ureau of 6abor Statistics and various other agencies. The data collected is most often collected via survey research methods. ata from e!perimental studies may also be used.
Sources o" Secondar' Source "rom Government %. irect irector or 7eneral 7eneral of *ommer *ommercia ciall "ntelli "ntelligenc gence e and Statis Statistic tics, s, 8olkata &. 95"3s Handboo Handbook k of Statistics Statistics on "ndian "ndian :conomy :conomy '. 95" 5ulletin 5ulletin 5; 5; Statement Statement (.
ational >ational Sampl Sample e Surveys Surveys ?. gurin guring g out how to word the $uesti $uestion on to get at the issue issue of interest
inally, once you have your $uestions written, there is the issue of how best to place them th em in your survey. survey. @ou3ll @ou3ll see that although there are many aspects of survey construction that are +ust common sense, if you are not careful you can make critical errors that have dramatic e#ects on your results.
CHAPTER <
DATA ANAL"SIS & INTERPRETATION
$NT(*D,CT$*N ata analysis is critical to the management of risk and the oversight of claims handling. Anderstanding a program3s e!perience e!perience sets the direction for future action by outlining what has occurred, occurred, where the program stands today Bthe current baselineC, and what opportunity. ata analysis as a discipline contains three interrelated interrelated components • • •
rocess 0anagement ata ;. %, Standard ublishing *orp, 5oston, 0<, Spring &%C and its ve stages. %. *apture &. Storage '.
'51,0,%' ?In general the word ;uestionnaire refers to a device for securing answer to the ;uestions by using form which the respondent fills in himself.@ .
T5 ?%'?0%01, $he tools chosen for the research work was ;uestionnaire. It consisted of one ;uestionnaire forms which are asked to customers . A list of < ;uestions was asked to customer to know there point of view.
-. Do 'ou know a#out the education loan o/ered #' this #ank 0
+es +es No
123 423
?J ? J =J = J )J ) J (J ( J 'J ' J &J & J %J % J J @:S @ :S
>;
$nterpretation5 %rom the above graph it is clear that 62L of respondent know about the education loan whereas F2L of them are not aware about it.
6.7ow 'ou came to know a#out the education loan o" this #ank 0
Advertisement
893
word o" mouth
623
(e"erred #' 'our -83 "amil' : "riend
?J ?J =J = J )J ) J (J ( J 'J ' J &J & J %J % J J
$nte $nterp rpre reta tati tion on55 rom the above graph =(J of the respondents came to know about the education loan through advertisement, &J came to know through word of mouth K %=J came to know through friendEfamily.
4.What made 'ou select this #ank0 Service &ualit' Simple Procedure $nterest (ate Advertisement
;83 -<3 -93 -63
=J )J (J 'J &J %J J Servic Serv ice e Lu Lual alit ity y
Simple Simpl e roced ocedur ure e
"nter nterest est 9ate
$nte $nterp rpre reta tati tion on55 %rom the above graph it is clear that =4L of respondent selected this bank because of its service ;uality&3HL selected this bank because of the simple procedure&3GL selected due to low interest rate and 31 L through advertisement .
9.Do 'ou like the marketin strate' o" #ank 0
Good
183
Averae
623
Poor
93
MJ ?J =J )J (J 'J &J %J J good
average
bad
$nte $nterp rpre reta tati tion on55 %rom the above graph graph it is clear than than 64L of respondent respondent felt that the marketing strategy of the bank is good& 12L felt it:s average& G L said it:s poor.
;.=or which course 'ou have taken Education Loan 0 C.A C.S N$$T>s !BA
693 -83 -23 ;23
)J ()J (J ')J 'J &)J &J %)J %J )J J *<
*S
>""TNs
05<
$nterp $nt erpret retati ation5 on5 %rom the above graph it is clear that 1GL of respondent have taken education loan for chartered accountant& 34L for company secretary& and 32L for 'IIt:s course C =2L for M,A
8.Are 'ou satis?ed satis?ed #' the service o" #ank 0 +es +es No
123 423
?J =J )J (J 'J &J %J J @:S @ :S
>;
$nterpretation5
%rom the above graph 62L are satisfied with bank:s service whereas F2L are not satisfied.
1.Do the interest rate chared #' #ank on loan reasona#le 0 183 693
@es @es No
?J =J )J (J 'J &J %J J @:S @ :S
>;
$nterpretation5
%rom the above graph it is clear that around 64L of respondent think that the interest rate charged by bank is reasonable and 1GL think that it is not reasonable.
<.$s the Education Loan immediatel' passed 0 +es +es No
8<3 463
?J =J )J (J 'J &J %J J @:S @ :S
>;
$nterpretation5 %rom the above graph it is clear that 4HL of respondent said that education loan was passed immediately but F1L said that it was was not passed immediately.
@.Do 'ou et an' ta% #ene?t 0 +es +es No
1<3 663
MJ M J ?J ? J =J = J )J ) J (J ( J 'J ' J &J & J %J % J J @es
>o
$nterpretation5 rom the above graph we came to know that ?MJ of respondent said that they got the ta! benet K &&J said they didn3t get ta! benet yet.
CHAPTER
CONCLUSION
$he study on education loan of abhudaya bank gave a vast learning experience to me and has helped to enhance my knowledge. "ducation loans are important and helpful to all parts of society. Abhudaya bank provides Q"ducation oans> which helps financial counselors& students& and their parents because loans enable people to make informed decisions about paying off debts. $he wide variety of "ducation loan programs by Abhudaya ,ank also makes it easier for students to save and even build credit. %inally& these loans enable students to continue their "duation which will create their bright career. !ustomer of Abhudaya ,ank get education loan at very low interest rate and the time span of returning the loan amount is also good and documentation work is also easy so customer find it easy to take loan from Abhudaya ,ank ,ank and therefore therefore they preferred preferred to to choose Abhud Abhudaya aya ,ank to take education loan . $herefore& all this easy procedure helped the bank for customer retention and to get more and more customer.
CHAPTER "
BIBLIOGRAPHY
Bi#lioraph'
httpsDen.wikipedia.orgwikiAbhyudayaR!o5 operativeR,ankRtd
httpsDwww.abhyudayabank.co.inenglishProfile.aspx
httpDwww.paisabaaar.comabhyudaya5co5operative5 bankeducation5loan
